GGE Announces Increase to Quarterly Dividend to $0.3125

Guggenheim Enhanced Equity Strategy Fund a closed-end management investment company, announces that it is increasing its quarterly dividend to $0.3125 per share, effective with its August 2011 dividend. The increased dividend compares to $0.1250 per share for the Fund's most recent dividend, paid on May 31, 2011. Since it was announced on March 14, 2011, that Guggenheim Partners Asset Management, LLC (“GPAM”) was to be appointed interim investment sub-adviser (for a period of up to 150 days from May 16, 2011, or until shareholders have approved a new investment sub-advisory agreement with GPAM, whichever comes first), the Fund's discount has narrowed by 679 basis points. Guggenheim Funds Investment Advisors, LLC, the Fund's investment adviser, believes that the demonstrated track record and reputation of GPAM, combined with the increased distribution rate, may help to continue narrowing the Fund's discount to net asset value and further enhance shareholder value.