Advisors Asset Management (AAM) Sponsors Record Fixed Income Municipal UIT Offering.

59 Firms Participate in $138.5 Million UIT Offering

MONUMENT, Colo. -- Advisors Asset Management, Inc. (AAM), a leading investment solutions partner, today announced the introduction of the largest fixed income Unit Investment Trust (UIT) to date, the Insured Tax Exempt Municipal ("ITEM") Portfolio. SMC Fixed Income Management, LP (FIM) is the portfolio advisor for the ITEM Portfolios. AAM is the product sponsor and primary distributor. The total offering was $138.5 million and 59 firms participated on the date of deposit, Thursday, February 12, 2009.

Series 1 deposited on December 12, 2008, with 83 firms participating, totaling over $115 million. Series 2 deposited on January 23, 2009, totaling over $110 million with 59 firms participating.

This is the third ITEM Portfolio and is a diversified long-term municipal bond portfolio seeking federally tax-exempt interest income and capital preservation. Notably, the underlying portfolio securities are individually insured by Berkshire Hathaway Assurance Corp. (BHAC), a financial guaranty insurance company rated AAA by Standard and Poor's, and Aaa by Moody's.

"According to our records, this $138.5 million offering surpasses the former $128 million record for a fixed income UIT set in 1982," said AAM CEO Scott Colyer. "Municipal bonds are historically among the safest long-term investments available, making them an attractive option in the current market. This UIT offers investors the opportunity for risk-adjusted returns while gaining access to BHAC-insured municipal bonds."

"As more investors turn to the municipal bond market," said Andrew S. Williams, AAM's President, "the ITEM Portfolios may appeal to those looking to take advantage of the potentially higher yield associated with longer-term municipals. Additionally, we have reinvented the UIT bond business by reducing the overall sales charge in an attempt to provide an attractive cost structure resulting in a more competitive yield for the investor."

Founded in 2006, the Portfolio Consultant, SMC Fixed Income Management, LP, is a privately owned investment manager. In addition to providing portfolio consulting services to the trusts, FIM provides investment management services to mutual funds and managed accounts for high net worth individuals. They also make direct investments on behalf of their clients.

Sales inquiries should be directed to Jeff Coron, Senior Vice President, Business Development, AAM, at 484-362-0974, or [e-mail].

UITs are sold only by prospectus. Information contained herein is subject to change. Units may not be sold nor may an offer to buy be accepted prior to the UIT's date of deposit. There are various risks associated with investing in municipal bonds and investors should consult their financial professional before making any investment decisions.

About Advisors Asset Management (AAM)

Advisors Asset Management, Inc. (AAM) is an investment solutions partner for Broker/Dealers and Advisors, offering an array of financial tools, leading technologies, and industry expertise. AAM provides bond services, portfolio support, financial tools, Unit Investment Trusts (UITs), structured products, and Separately Managed Accounts (SMAs). Established in 1979, AAM has nine major offices across the nation and partners with more than 75 broker/dealers (25,000 registered reps), 2,500 independent registered advisors, and 175 street accounts which includes small and regional BDs and wirehouses. AAM is a broker/dealer, member FINRA/SIPC, SEC registered investment advisor and SEC registered investment company.