Virtus Investment PRTRS (VRTS)

NEW YORK, NY -- (Marketwire) -- 09/16/10 -- The Zweig Total Return Fund, Inc. (NYSE: ZTR) announced today that its Board of Directors has approved the filing of a registration statement with the Securities and Exchange Commission to offer additional shares of its common stock through a contemplated rights offering.

The registration statement contemplates that the Fund will issue to shareholders non-transferable rights entitling them to acquire one share of common stock for each five shares held, with the right to subscribe for additional shares not subscribed for by others in the primary subscription. The subscription price per share will be equal to 95% of the lower of the net asset value per share of the Fund's common stock at the close of business on the expiration date of the subscription period or the average of the last reported sales price of a share of the Fund's common stock on the New York Stock Exchange on such date and the four preceding business days. The Fund will determine and announce the definitive terms of the rights offering at a later date.

The Zweig Total Return Fund is a closed-end fund with an investment objective to seek the highest total return, consisting of capital appreciation and current income, consistent with the preservation of capital. The Fund is advised by Zweig Advisers LLC, an affiliated investment manager of Virtus Investment Partners, Inc. (NASDAQ: VRTS).

For more information on the Fund, contact Shareholder Services at 800.272.2700 or visit us on the web at www.virtus.com.

A registration statement relating to these rights has not yet been filed with the Securities and Exchange Commission. These securities may not be sold, nor may offers to buy be accepted prior to the time the registration statement becomes effective. This communication shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state, or an exemption therefrom.