MBIA Capital/Claymore Managed Duration Investment Grade Municipal Fund Announces Trustee Appointment.

LISLE, Ill. -- On March 13, 2006, the Board of Trustees of the MBIA Capital/Claymore Managed Duration Investment Grade Municipal Fund (NYSE:MZF) appointed Randall Barnes as a Trustee of the Fund to serve until the annual meeting of shareholders of the Fund to be held in 2006. Mr. Barnes is not an "interested" Trustee, as defined under the Investment Company Act of 1940, as amended, and serves as a trustee for a number of other closed-end management investment companies for which Claymore Advisors, LLC serves as adviser. Mr. Barnes most recently served as Senior Vice President and Treasurer of PepsiCo, Inc. from 1993-1997 as well as holding various other leadership positions during his ten-year tenure at the company.

Mr. Barnes succeeds Jerry Rosenbloom, who resigned from the Board of Trustees in order to pursue other interests.

MBIA Capital Management Corp. is the Fund's Investment Adviser. Based in Armonk, NY, MBIA specializes in the management of fixed-income securities, with $48.7 billion in fixed-income assets under management as of December 31, 2005. Founded in 1994, MBIA Capital Management Corp. maintains a particular expertise in investment-grade municipal bond investing, and is a wholly-owned subsidiary of MBIA Inc.

Claymore Securities, Inc., the Fund's Servicing Agent, is a privately held financial services company offering unique investment solutions for financial advisors and their valued clients. Claymore entities have provided supervision, management, servicing or distribution on approximately $13 billion in assets through closed-end funds, unit investment trusts, exchange-traded funds, mutual funds and separately managed accounts.

The Fund is a closed-end investment company and is not FDIC-insured, nor bank guaranteed and may lose value. An investment in the Fund is subject to certain risks and other considerations. Such risks and considerations include, but are not limited to: Market and Selection Risk, Municipal Bond Market Risk, Interest Rate Risk, Credit Risk, Reinvestment Risk, Leverage Risk, Hedging Risk, Derivatives Risk, Anti-Takeover Provisions Risk, Market Disruption Risk and Non-Diversification Risk.

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