TYW Adopts Open-Market Share Repurchase Plan

LISLE, Ill.--([ BUSINESS WIRE ])--[ TS&W/Claymore Tax-Advantaged Balanced Fund ] (NYSE: [ TYW ]) ("TYW" or the "Fund") today announced that the Fund's Board of Trustees approved an open-market share repurchase plan (the "Plan").

Under the terms of the Plan, the Fund is authorized to purchase up to 5% of its outstanding common shares in the open market on a quarterly basis, subject to applicable regulatory and legal restrictions and in consideration of certain operational and market factors, including the size of the market price discount to net asset value of the Fund. The amount and timing of repurchases will be at the discretion of the Investment Adviser to the Fund, and subject to market conditions and investment considerations. The Fund intends to conduct the Plan in accordance with Rule 10b-18 under the Securities Exchange Act of 1934.

The Plan is intended to enhance shareholder value. The Fund's Board of Trustees has authorized the share repurchase program in the belief that share repurchases may at times represent attractive investment opportunities for the Fund.

There is no assurance that the Fund will purchase shares at any particular discount levels or in any particular amounts. There is also no assurance that the market price of the Fund's shares, either absolutely or relative to net asset value, will increase as a result of any share repurchases.

The Fund's investment objective is to provide a high level of total after-tax return, including attractive tax-advantaged income. Under normal market conditions, the Fund seeks to achieve its investment objective by investing in a portfolio of assets consisting primarily of (i) municipal securities, the interest on which is exempt from regular Federal income tax, and which is not a preference item for purposes of the alternative minimum tax and (ii) common stocks and preferred securities that are eligible to pay dividends which, for individual shareholders, qualify for the long term capital gains rate. Further information regarding the Fund may be found online at [ www.claymore.com/TYW ].

Claymore Advisors, LLC (an affiliate of [ Claymore Securities, Inc. ]) serves as Investment Adviser to the Fund. [ Claymore Securities, Inc. ] 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 and/or distribution on approximately $13.8 billion in assets, as of September 30, 2008. Claymore currently offers closed-end funds, unit investment trusts and exchange-traded funds. To learn more about all of Claymore's closed-end funds, please visit [ www.claymore.com/CEF ]. Registered investment products are sold by prospectus only and investors should read the prospectus carefully before investing.

SMC Fixed Income Management, LP serves as an Investment Sub-Adviser to the Fund andis responsible for the day-to-day management of the municipal securities portion of the Fund. SMC uses both bottom-up and top-down analysis in constructing portfolios.

[ Thompson, Siegel & Walmsley LLC ] ("TS&W") serves as an Investment Sub-Adviser to the Fund and is responsible for the day-to-day management of the equity and income securities portion of the Fund. TS&W was founded in 1969 and provides investment management services to corporations, pension and profit-sharing plans, 401(k) and thrift plans, trusts, estates and other institutions and individuals. As of June 30, 2008, TS&W had approximately $7.4 billion in assets under management.

This information does not represent an offer to sell securities of the Fund and it is not soliciting an offer to buy securities of the Fund. There can be no assurance that the Fund will achieve its investment objectives. The net asset value of the Fund will fluctuate with the value of the underlying securities. It is important to note that closed-end funds trade on their market value, not net asset value, and closed-end funds often trade at a discount to their net asset value. Past performance is not indicative of future performance. An investment in the Fund is subject to certain risks and other considerations. Such risks and considerations include, but are not limited to: Investment Risk, Market Discount Risk, Interest Rate Risk, Credit Risk, Lower-Grade and Unrated Securities Risk, Leverage Risk, Issuer Risk, Country Risk, Prepayment Risk, Reinvestment Risk, Derivatives Risk, Inflation/Deflation Risk, Management Risk, Turnover Risk, Anti-Takeover Provisions, Smaller Company Risk, and Market Disruption, Geopolitical Risk and AMPS 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.

Member FINRA/SIPC (1/09)

NOT FDIC-INSURED | NOT BANK-GUARANTEED | MAY LOSE VALUE

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TYW Adopts Open-Market Share Repurchase Plan