Duff&Phelps Utilities &orate Bond Trust 

Duff & Phelps Utility and Corporate Bond Trust Inc. is a diversified, closed-end management investment company. The Fund's investment objective is to seek high current income consistent with investing in securities of investment grade quality. The Fund seeks to achieve its investment objective by investing substantially all of its assets in a diversified portfolio of income securities. In normal market conditions, approximately 80% of the Fund's total assets will be invested, in the aggregate, in utility and corporate bonds, and over 25% of the Fund's total assets will be invested in utility income securities. The Fund invests in various industries, including financial; industrial; telecommunications; electric, gas and water, and oil and gas storage, transportation and production. The Fund's investment advisor is Duff & Phelps Investment Management Co.