FFC and FLC Announce Officer Change

The Boards of Directors of Flaherty & Crumrine/Claymore
Preferred Securities Income Fund Incorporated (NYSE: FFC) and Flaherty
& Crumrine/Claymore Total Return Fund Incorporated (NYSE: FLC) have
elected Chad Conwell to the position of Chief Compliance Officer of
the Funds. Mr. Conwell is a Vice President of each Fund and a Vice
President and Chief Compliance Officer of the Funds' investment
adviser, Flaherty & Crumrine Incorporated. Before joining Flaherty &
Crumrine in July 2005, Mr. Conwell was an associate at the law firm of
Paul, Hastings, Janofsky & Walker, LLP.
   Mr. Conwell replaces Peter C. Stimes who has served as Chief
Compliance Officer since July 2004. Mr. Stimes resigned as Vice
President, Assistant Secretary and Chief Compliance Officer effective
today. The Board had elected Mr. Conwell as an Assistant Compliance
Officer of the Funds in July in anticipation of Mr. Stimes' scheduled
resignation.