Liberty Term Trust, Inc - 1999 to Terminate On Schedule and Stop Trading December 10, 1999

Business Wire, Dec 2, 1999

PITTSBURGH--(BUSINESS WIRE)--Dec. 2, 1999--

Federated Investors and the Board of Directors of Liberty Term Trust, Inc. - 1999 (NYSE:LTT)(CUSIP: 531282101) announced today that the Trust is on schedule to liquidate its assets at the fund's net asset value (NAV) on Dec. 17, 1999 as stated in the fund's prospectus when LTT was first offered in 1992.

In connection with the Trust's scheduled plan of liquidation adopted by the Trust's Board of Directors, the Trust's stock will stop trading on the New York Stock Exchange (NYSE) at the close of business on Dec. 10, 1999. The stock will be de-listed from the NYSE effective Monday, Dec. 13, 1999.

Shareholders of record on Dec. 10, 1999 will receive a final monthly dividend of $0.035 per share payable on Dec. 17, 1999. All shareholders of record on Dec. 10, 1999 will also receive a liquidating distribution of the Trust's assets on Dec. 17, 1999. Assets in the fund were approximately $39 million as of Nov. 30, 1999, and the fund's NAV on Nov. 30 was $9.18, which includes the final monthly dividend of $0.035 per share.

Liberty Term Trust, Inc - 1999's investment advisor is Federated Investors Management, Co., a wholly-owned subsidiary of Federated Investors, Inc., one of the largest investment companies in the United States, managing approximately $115 billion in more than 175 mutual funds and separate accounts as of Sept. 30, 1999.