Market Overview

Stone Harbor Emerging Markets Total Income Fund Declares Monthly Distributions of $0.1511 Per Share

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Stone Harbor Emerging Markets Total Income Fund ("the Fund"),
which is traded on the New York Stock Exchange under the symbol "EDI",
announced the declaration of monthly distributions of $0.1511 per common
share, payable on the dates noted below. Based of the Fund's current
share price of $12.86 and net asset value per share of $12.88 (as of
close on July 18, 2018), the distributions represent an annualized
distribution rate of 14.10% and 14.08% respectively.

The following dates apply to the distributions declared:

Ex-Distribution Date     Record Date     Payable Date
August 17, 2018     August 20, 2018     August 30, 2018
September 14, 2018     September 17, 2018     September 27, 2018
October 12, 2018     October 15, 2018     October 25, 2018
       

This press release is not for tax reporting purposes but is being
provided to announce the amount of the Fund's distributions that have
been declared by the Board of Directors. In early 2019, after definitive
information is available, the Fund will send shareholders a Form
1099-DIV, if applicable, specifying how the distributions paid by the
Fund during the prior calendar year should be characterized for purposes
of reporting the distributions on a shareholder's tax return (e.g.,
ordinary income, long-term capital gain or return of capital).

The Fund is a non-diversified, closed-end management investment
company that is managed by Stone Harbor Investment Partners LP ("Stone
Harbor"). The Fund's primary investment objective is to maximize total
return, which consists of income and capital appreciation on its
investments in emerging markets securities.
There is no assurance
that the Fund will achieve its investment objective.

The Fund seeks to achieve its investment objective by investing at
least 80% of its net assets (plus borrowings for investment purposes) in
emerging markets debt, which includes fixed income securities and other
instruments, including derivatives, that are economically tied to
emerging market countries, that are denominated in the predominant
currency of the local market of an emerging market country or whose
performance is linked to those countries' markets, currencies, economies
or ability to repay loans. The Fund normally expects to invest up to 20%
of its total assets in emerging markets equity, which includes
securities issued by either single country or regional exchange-traded
funds, common stocks, preferred stocks, other equity securities and
other instruments (including derivatives) that are economically tied to
the equity markets of emerging market countries, that are denominated in
the predominant currency of the local market of an emerging market
country or whose performance is linked or otherwise related to those
countries' markets, currencies, or economies. A security or instrument
is economically tied to an emerging market country if it is principally
traded on the country's securities markets or if the issuer is organized
or principally operates in the country, derives a majority of its income
from its operations within the country or has a majority of its assets
within the country.

Stone Harbor Investment Partners LP is a global institutional fixed
income investment manager, specializing in credit and asset allocation
strategies. The firm's investment strategies are based on fundamental
insights, derived from a combination of proprietary research and the
in-depth knowledge and specialized experience of the firm's team. Based
in New York, Stone Harbor employs approximately 145 people across its
headquarters and offices in Chicago, London, Melbourne and Singapore.
Founded in 2006, Stone Harbor is an employee-owned partnership with
approximately $30.8 billion of assets under management as of June 30,
2018. For more information, please visit Stone Harbor's website at
www.shiplp.com.

For more complete information, please call 877.206.0791 (toll-free)
or visit the Fund's website -
www.shiplpcef.com.

The Stone Harbor Emerging Markets Total Income Fund is a closed-end
fund and closed-end funds do not continuously issue shares for sale as
open-end mutual funds do. Since its initial public offering, the Fund
has traded on the New York Stock Exchange under the symbol EDI.
Investors wishing to buy or sell shares need to place orders through an
intermediary or broker.

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