Cornerstone Progressive Return Fund Announces Continuing Monthly Distributions

NEW YORK, NY--(Marketwired - Feb 13, 2015) - Cornerstone Progressive Return Fund (NYSE MKT: CFP) (the "Fund"), a closed-end management investment company, announced that the Fund is declaring the following distributions.

Record Date	Payable Date	Per Share
April 15, 2015	April 30, 2015	$0.2858
May 15, 2015	May 29, 2015	$0.2858
June 15, 2015	June 30, 2015	$0.2858

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.

It should be noted that these distributions are not tied to the Fund's investment income or capital gains and do not represent yield or investment return on the Fund's portfolio. The distribution policy will be reviewed and approved at least annually by the Board and can be modified at their discretion for the benefit of the Fund and its shareholders. The Board remains convinced that monthly distributions of this kind enhance flexibility for shareholders in managing their investment in the Fund. Shareholders have the option of reinvesting all or a portion of these distributions in additional shares of the Fund through the Fund's reinvestment plan or receiving them in cash. Shareholders should carefully read the description of the reinvestment plan contained in the Fund's report to shareholders, which may at times provide additional benefit to shareholders who participate in the plan.