MILLER/HOWARD HIGH INCOME EQUITY FUND (HIE) ANNOUNCES CHANGES TO INVESTMENT AND DISCLOSURE POLICIES

Woodstock, NY, June 14, 2017 -- The Board of Trustees of the Miller/Howard High Income Equity Fund (NYSE: HIE) (CUSIP–600379 101) (the “Fund”) has agreed to make the changes to the Fund’s Investment Policies described below. 

•    Leverage. The Fund currently uses leverage to seek to achieve its investment objectives. The Fund currently uses leverage by borrowing funds from banks or other financial institutions. The Fund may also utilize leverage through reverse repurchase agreements, dollar rolls, and/or the issuance of preferred shares, as described in the Fund’s offering documents. Issuing debt or preferred securities, or borrowing money, is often referred to as traditional leverage, and entering into reverse repurchase agreements, dollar rolls, swaps, futures, forwards and other derivative transactions, and securities lending arrangements, that have similar effects as leverage, is often referred to as effective leverage.

       The Fund’s current policy states that it will not employ leverage, either traditional or effective leverage, of more than 20% of the Fund's Managed Assets as measured at the time when leverage is incurred. Effective August 15, 2017, the Fund’s securities lending activities will not be included in the 20% limitation on leverage.

The changes in the policy are designed to provide the Investment Manager greater flexibility in regard to the Fund’s securities lending practice.

In addition, the Board of Trustees of the Fund has agreed to modify certain Fund policies by adopting a revised Website and Portfolio Holdings Disclosure Policy (the “Policy”). The revised Policy can be found in its entirety in the Fund’s Semi-Annual Report to Shareholders dated April 30, 2017. The Policy supersedes and replaces any previous policies of the same or similar subject matter. The Policy includes, among other things, that:

• The Fund may make available top 10 portfolio holdings, weights, issuer information, and other portfolio characteristics on the Fund’s website on a monthly and/or quarterly basis 15 days after the end of the period for which such holdings (and/or other information) are shown.
• The Fund may make available full portfolio holdings, weights, or issuer information on the Fund’s website on a monthly and/or quarterly basis 30 days after the end of the period for which such holdings (and/or other information) are shown.
• The Fund may provide other portfolio information monthly and/or quarterly on the Fund’s website 15 days after the end of the period for which such holdings (and/or other information) are shown. 

The Miller/Howard High Income Equity Fund seeks to provide a high level of current income and capital appreciation potential to help investors secure their investment goals. 

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About the Fund

The Fund is managed by Miller/Howard Investments Inc., based in Woodstock, New York. As of March 31, 2017, the firm managed approximately $6.6 billion in assets, including $0.5 billion in assets under advisement. Miller/Howard Investments focuses on income-producing equities. The emphasis is on high-quality stocks with high yield and strong dividend growth offering investors the opportunity for capital appreciation, current income, and growth of income. The firm has managed portfolios for major institutions and individuals for over two decades.

For information, call shareholder servicing:

American Stock Transfer

1-800-937-5449

Attachments:

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/212748f5-2990-487e-af00-f7775334aded

Steve Chun
Miller/Howard Investments Inc.
845-679-9166
[email protected]