Cornerstone Progressive Return Fund Announces Continuing Monthly Distributions

NEW YORK, NY--(Marketwired - Aug 8, 2014) - Cornerstone Progressive Return Fund (NYSE MKT: CFP) (the "Fund"), a closed-end management investment company, today announced that the Fund is declaring the following distributions:

Record Date		Payable Date		Per Share
October 15, 2014		October 31, 2014		$0.0773
November 14, 2014		November 28, 2014		$0.0773
December 15, 2014		December 31, 2014		$0.0773

The Board of Trustees (the "Board") believes that the Fund's shareholders are well served by regular distributions which increase liquidity and provide flexibility to individual shareholders in managing their investment. Accordingly, it is the intention of the Board that the Fund will make continuous monthly distributions. The monthly distributions will be reviewed by the Board and declared periodically throughout the year. From time to time, the Board may consider resetting the distribution amount.