XAI Flt Rt & Alt Incm Tr

The Fund today announced that the Board of Trustees of the Fund has approved a liquidity plan, involving a series of liquidity opportunities for shareholders, including an initial tender offer (the “Initial Tender Offer”) followed by two subsequent tender offers, to be completed unless specified discount to net asset value (“NAV”) or NAV performance objectives are achieved. The implementation of the liquidity plan and the tender offers contemplated thereby are contingent upon shareholder approval of the proposed investment sub-advisory agreement among the Fund, XAI and Rockford Tower Asset Management, L.L.C. (the “King Street Sub-Adviser “), a wholly owned subsidiary of King Street Capital Management, L.P. ( “King Street “) (the “King Street Sub-Advisory Agreement “).

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