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Fort Dearborn Income Securities, Inc. -- Reports Earnings.

NEW YORK -- Fort Dearborn Income Securities, Inc. ("Fund") (NYSE: FDI), a closed-end management investment company seeking a stable stream of current income consistent with external interest rate conditions and a total return over time that is above what shareholders could receive by investing individually in the investment grade and long-term maturity sectors of the bond market, today announced its performance for the fiscal third quarter ended and fiscal year-to-date June 30, 2006.

For the fiscal third quarter ended June 30, 2006, the Fund's earnings from net investment income were $1,858,163, equal to $0.21 per share. During this period, the Fund paid dividends of $1,755,133, equal to $0.20 per share. Total net realized and unrealized losses from investment transactions were $(2,941,181), equal to $(0.34) per share, for the same period. This compares to earnings from net investment income of $1,846,754, equal to $0.21 per share; dividends paid of $1,755,133, equal to $0.20 per share; and total net realized and unrealized gains from investment transactions of $4,595,182, equal to $0.52 per share, for the fiscal third quarter ended June 30, 2005.

For the nine months ended June 30, 2006, the Fund's earnings from net investment income were $5,377,773, equal to $0.61 per share. During this period, the Fund paid dividends of $5,440,912, equal to $0.62 per share, short-term capital gains of $1,043,427, equal to $0.12 per share and long-term capital distributions of $193,942, equal to $0.02 per share. Total net realized and unrealized losses from investment transactions were $(8,104,948), equal to $(0.92) per share, for the same period. This compares to earnings from net investment income of $5,377,468, equal to $0.61 per share; dividends from net investment income of $5,458,464, equal to $0.62 per share and long-term capital gains distributions of $930,220, equal to $0.11 per share; and total net realized and unrealized gains from investment transactions of $3,050,380, equal to $0.35 per share, for the nine months ended June 30, 2005.

On June 30, 2006, total net assets of the Fund were $133,065,186. The net asset value per share was $15.16, based on 8,775,665 shares outstanding, which represents a decrease of 9.28% from the net asset value per share of $16.71 ($146,625,855 attributable to 8,775,665 shares outstanding) on June 30, 2005.
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Publication:Business Wire
Date:Aug 14, 2006
Words:424
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