(PRNewswire) The American Stock Exchange® (Amex®) and ING Clarion Real Estate today announced the trading of common shares in a new closed-end fund, the ING Clarion Real Estate Income Fund (SYMBOL: IIA). This is the first ever closed-end fund to be issued by ING Clarion Real Estate and the first real estate closed-end fund to invest in both real estate equity securities and real estate fixed-income securities.

"We are extremely proud to welcome ING Clarion Real Estate's first ever closed-end fund to the American Stock Exchange," said Tom Rzepski, vice president of the Amex's closed-end fund business. "This is an exciting new investment opportunity for investors and we're pleased to offer issuers the combined strength of our specialist auction market, competitive pricing structure and customized services."

ING Clarion Real Estate Investment Fund is a newly organized non-diversified closed-end management investment company. The fund's primary investment objectives are to seek high current income and capital appreciation.

"ING Clarion is pleased to bring our experience serving institutional real estate investors for over 20 years to the investors in this unique real estate closed end fund", said Ritson Ferguson, chief investment officer.

The fund is issuing 14 million common shares at an initial price of $15.00 per share, resulting in gross proceeds of $210 million (exclusive of the underwriters' over allotments). The lead manager of the underwriting syndicate is A.G. Edwards & Sons, Inc, the co-managers include A.G. Edwards & Sons, Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, BB&T Capital Markets, A division of Scott & Stringfellow, Huntleigh Securities Corporation, Janney Montgomery Scott LLC, J.J.B. Hilliard, W.L. Lyons, Inc., Legg Mason Wood Walker Incorporated, McDonald Investments Inc., A Keycorp Company, Oppenheimer & Co. Inc., RBC Capital Markets, Stifel Nicolaus & Company, Incorporated, and the specialist for the ING Clarion Real Income Fund is Performance Capital Group LLC.

The American Stock Exchange currently lists 138 closed-end funds with over $17 billion in assets. For additional information on this fund or other Amex- listed closed-end funds, please call 1-800-THE-AMEX.