HCF Nexpoint Credit Strategies Fund

NexPoint Credit Strategies Fund (the “Fund”) (NYSE: HCF) announced that certain changes were made to the composition of the Board of Trustees of NexPoint Credit Strategies Fund (the “Board”), all of which were approved by the Board at a meeting held on June 8, 2012, and effective as of that date. The Board accepted the resignation of R. Joseph Dougherty as a Trustee of the Fund in connection with his departure from Pyxis Capital, L.P., the former adviser to the Fund (“Pyxis”). Ethan Powell, the President of NexPoint, was elected to replace Mr. Dougherty. In addition, Mr. Powell was elected Executive Vice President of the Fund. He was previously Secretary of the Fund, and continues to hold that position. The Board also elected Scott F. Kavanaugh, a current independent trustee of the Fund, as Chairman of the Board. These changes will not result in any changes to the identity of the Fund’s portfolio managers, the advisory or administrative services fees paid by the Fund or the services to be provided to the Fund.

About NexPoint Credit Strategies Fund

The Fund is a non-diversified, closed-end management investment company. The Fund’s investment objectives are to provide both current income and capital appreciation. The Fund seeks to primarily invest in secured and unsecured floating and fixed rate loans, bonds and other debt obligations, debt obligations of stressed, distressed and bankrupt issuers, structured products and equities. Within the categories of obligations and securities in which the Fund invests, the investment adviser employs various trading strategies, including capital structure arbitrage, pair trades and shorting. Pyxis Capital, L.P. (formerly, Highland Funds Asset Management, L.P.) has served as the Fund’s investment adviser since December 15th, 2011 and is an affiliate of Highland Capital Management, L.P., the Fund’s investment adviser from inception in 2006 to December 14th, 2011. The Fund’s shares are listed on the NYSE under the symbol “HCF”. An investment in the Fund is not appropriate for all investors. No assurance can be given that the Fund will achieve its investment objectives.

Shares of closed-end investment companies frequently trade at a discount to net asset value. The price of the Fund’s shares is determined by a number of factors, several of which are beyond the control of the Fund. Therefore, the Fund cannot predict whether its shares will trade at, below or above net asset value.

Past performance does not guarantee future results.

Nexpoint Credit Strategies Fund (NYSE:HCF)
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Nexpoint Credit Strategies Fund (NYSE:HCF)
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