Trustees of Five Pioneer Closed-End Funds Elect New Chairman

The Trustees of five Pioneer closed-end funds announced today that Thomas J. Perna has been elected Chairman of the Board of Trustees of the funds, to take effect May 19, 2012. The funds include Pioneer Diversified High Income Trust (HNW), Pioneer Floating Rate Trust (PHD), Pioneer High Income Trust (PHT), Pioneer Municipal High Income Advantage Trust (MAV), Pioneer Municipal High Income Trust (MHI).

Mr. Perna has been an independent Trustee of the funds since 2006. John F. Cogan, Jr., the current Chairman, will continue to serve as President (Principal Executive Officer) and a Trustee of the funds. The transition to an independent Chairman accords with current governance trends in the mutual fund industry.

Mr. Perna retired as Senior Executive Vice President of The Bank of New York in 2004, after serving as head of the Financial Institutions Banking, Asset Servicing and Broker Dealer Services Sectors. Mr. Perna currently serves as Chairman of the Board of Directors of Quadriserv, Inc., and as a Director of Broadridge Financial Solutions, Inc.

About the Pioneer Closed-End Funds

The funds are closed-end investment companies. Four of these funds trade on the New York Stock Exchange (NYSE) under the following symbols: MHI, MAV, PHT, and PHD. HNW trades on the NYSE Amex. Pioneer Investment Management, Inc. is each fund’s investment adviser. For more information, please visit http://us.pioneerinvestments.com/

© 2012 Pioneer Investment Management, Inc.Member of the UniCredit Banking Group,Register of Banking Groups