TYW TS&W/Claymore Tax-Advantaged Balanced Fund Common Stock

As previously announced, the Board of Trustees as well as the shareholders of TS&W/Claymore Tax-Advantaged Balanced Fund(NYSE: TYW), a diversified closed-end management investment company (“TYW”), have approved a reorganization of TYW into an open-end fund, Rydex | SGI Municipal Income Fund (the “Rydex | SGI Fund”), a series of Security Income Fund.

The closing of the reorganization is expected to occur after the close of trading on the New York Stock Exchange (“NYSE”) on January 13, 2012 (“Closing Date”). Upon the Closing Date, Rydex | SGI Fund will acquire substantially all of the assets and will assume the stated liabilities of TYW, in exchange for Class A Shares of Rydex | SGI Fund (the “New Shares”) to be issued to TYW. Immediately thereafter, TYW will distribute such New Shares to its shareholders and shareholders of TYW will become shareholders of Rydex | SGI Fund .

In order to allow the reorganization to proceed in an organized and efficient manner, TYW’s shares will cease to be traded on the “NYSE as of the close of trading on December 30, 2011. Thus, during the period from December 31, 2011 until January 17, 2012 (the first business day following the Closing Date), there will be no market for selling or purchasing shares of the TYW. Beginning on the first business day following the Closing Date, however, shareholders may redeem New Shares of Rydex | SGI Fund at net asset value without any redemption fee.

In connection with the reorganization, TYW will redeem 100% of its outstanding auction market preferred shares (“AMPS”). The redemption price will be equal to the liquidation preference per share, plus accumulated, but unpaid, dividends as of the applicable redemption date (as noted in the table below).

Series   CUSIP Number   Number of Shares Redeemed   Amount Redeemed   Redemption Date M7   87280R207   2,100   $52,500,000   January 10, 2012 T28   87280R306   2,100   $52,500,000   January 11, 2012

Rydex | SGI Fund will seek to provide current income with an emphasis on income exempt from federal income tax, while also considering capital appreciation. In pursuit of its objective, Rydex | SGI Fund will invest, under normal market conditions, at least 80% of its assets in a diversified portfolio of municipal securities whose interest is free from federal income tax. Rydex | SGI Fund will allocate assets across different market sectors and maturities and may invest in municipal bonds rated in any rating category or in unrated municipal bonds. Rydex | SGI Fund, however, will invest under normal market conditions, at least 80% of its assets in investment grade securities.

Security Global InvestorsSM will serve as investment adviser to the Rydex | SGI Fund and Rydex Distributors, LLC will distribute the Rydex | SGI Fund. Guggenheim Partners Asset Management, LLC (“GPAM”) will serve as investment sub-adviser to the Rydex | SGI Fund. GPAM is a subsidiary of Guggenheim Partners, LLC and Security Global InvestorsSM and Rydex Distributors, LLC are subsidiaries of Security Benefit Corporation, which is a subsidiary of Guggenheim SBC Holdings, LLC, an entity managed by an affiliate of Guggenheim Partners, LLC. GPAM will manage the Rydex | SGI Fund utilizing a dynamic strategy that combines a rigorous municipal security selection process with a relative value analysis. There can be no assurance that the Rydex | SGI Fund will be successful in achieving its investment objective.

The foregoing is not an offer to sell, nor a solicitation of an offer to buy, shares of TYW.

Guggenheim Funds Investment Advisors, LLC acts as the Investment Adviser for TYW.

With assets exceeding $115 billion*, Guggenheim Investments has a long, distinguished history of serving institutional investors, ultra-high-net-worth individuals, family offices and financial intermediaries. We offer clients a wide range of differentiated capabilities built on a proven commitment to investment excellence. Guggenheim Investments has offices in Chicago and New York along with a global network of offices throughout the United States, Europe, and Asia.

Guggenheim Investments represents the investment management businesses of Guggenheim Partners, LLC (“GP”). The following businesses comprise Guggenheim Investments: Security Investors, LLC (SI) doing business as Security Global InvestorsSM and Rydex Investments, Guggenheim Partners Asset Management, LLC, (“GPAM”), Guggenheim Investment Management, LLC, (“GIM”), Guggenheim Funds Investment Advisors, LLC, Guggenheim Funds Distributors, Inc., Guggenheim Aviation, GS GAMMA Advisors, LLC, Guggenheim Real Estate, LLC, Guggenheim Structured Real Estate, Guggenheim Partners Europe, Claymore Investments, Inc., Transparent Value Advisors, LLC and Guggenheim Partners India Management.

* Asset figure is based upon the best available information as of 9/30/2011 and consists of assets under management and serviced assets of the various asset managers comprising Guggenheim Investments. The total asset figure includes $8.7B of leverage for assets under management and $0.8B of leverage for serviced assets.

Investors should consider the investment objectives and policies, risk considerations, charges and expenses of TYW carefully before they invest. For this and more information, please contact a securities representative or Guggenheim Funds, 2455 Corporate West Drive, Lisle, Illinois 60532, 800-345-7999.

The foregoing does not constitute an offer of any securities for sale. The proxy statement/prospectus relating to the Reorganization contains important information relating to the foregoing and shareholders are urged to read it. Free copies of the proxy statement/prospectus are available by calling Guggenheim Funds at 800-345-7999 or on the SEC's web site at www.sec.gov.

Following the closing of the Reorganization, Rydex | SGI Fund intends to commence a continuous offering of its securities. Other than in the Reorganization, securities of the Rydex | SGI Fund may not be sold nor may offers to buy be accepted prior to that time. A registration statement relating to these securities has been filed with the Securities and Exchange Commission and is effective; however, the Rydex | SGI Fund has not yet commenced offering its shares. Information contained herein is subject to completion or amendment. This communication shall not constitute an offer to sell or a solicitation of any offer to buy; nor shall there be any sale of these securities in any state where the offer, solicitation, or sale is not permitted.

NOT FDIC-INSURED | NOT BANK-GUARANTEED | MAY LOSE VALUE

Member FINRA/SIPC (12/11)