September 25, 2012 at 18:00 PM EDT
NexPoint Credit Strategies Fund Announces New Portfolio Manager

NexPoint Credit Strategies Fund (the “Trust”) (NYSE: NHF) announced today that it has appointed James Dondero as Portfolio Manager.

Mr. Dondero has over 25 years of experience in the credit markets. In addition to his role at NexPoint, Mr. Dondero is the President of Highland Capital Management, L.P., which he co-founded in 1993. Prior to founding Highland, Mr. Dondero served as Chief Investment Officer of Protective Life’s GIC subsidiary and helped grow the business from concept to over $2 billion between 1989 and 1993. His portfolio management experience includes mortgage-backed securities, investment grade corporates, leveraged bank loans, high-yield bonds, emerging market debt, derivatives, and equity securities. He received a BS in Commerce (Accounting and Finance) from the University of Virginia. Mr. Dondero is a Certified Public Accountant, a Certified Management Accountant, and a Chartered Financial Analyst.

About NexPoint Credit Strategies Fund

NexPoint Credit Strategies Fund is a closed-end fund managed by NexPoint Advisors, L.P. The Fund is invested primarily in below investment grade debt and equity securities and has the ability to hedge risk. The manager attempts to exceed the return of Dow Jones Credit Suisse Hedge Fund Index in a transparent, registered fund format with monthly dividends. NexPoint Advisors, L.P. has served as the Fund’s investment adviser since June 11th, 2012 and is an affiliate of Pyxis Capital, L.P., the Fund’s investment adviser from December 15th, 2011 to June 10th, 2012 and Highland Capital Management, L.P., the Fund’s investment adviser from inception in 2006 to December 14th, 2011. The Fund’s shares were listed on the NYSE under the symbol “HCF” but effective September 10, 2012, they are trading under the symbol “NHF”. 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.

Contacts:

NexPoint Credit Strategies Fund
Shareholder Services, 877-665-1287
info@nexpointadvisors.com
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