Swank Capital and Cushing® Asset Management Announce a Potential Constituent Change to The Cushing® MLP Market Cap Index

DALLAS, June 20, 2016 /PRNewswire/ -- Swank Capital, LLC and Cushing® Asset Management, LP announce a potential interim change and special rebalancing of The Cushing® MLP Market Cap Index (the "Index"). Index constituent The Williams Companies, Inc. (NYSE: WMB) previously entered into an Agreement and Plan of Merger with Index constituent Energy Transfer Equity, L.P. (NYSE: ETE) and affiliated entities wherein WMB would be merged into Energy Transfer Corp LP, an ETE subsidiary that will trade publicly on the NYSE following the merger. The completion of the merger is subject to the approval of WMB stockholders. A special meeting of the stockholders of WMB is scheduled for June 27, 2016, at 9:00 AM Central Daylight Time for the purpose of considering and voting on the proposed acquisition.

If the acquisition is approved, WMB will be removed from the Index and replaced with Holly Energy Partners, L.P. (NYSE: HEP) after the markets close on June 27, 2016. Additionally, because WMB is an incumbent constituent with a weighting exceeding 3.5%, the Index will be rebalanced and all constituent weightings will be adjusted as shown below. The changes will be effective on June 28, 2016.

If the acquisition is not approved, there will be no change to the constituents of the Index or to Index constituent weightings.

Cushing® MLP Market Cap Index constituents effective June 28, 2016, if acquisition approved by WMB stockholders on June 27, 2016:

Constituents removed effective June 28, 2016, if acquisition approved by WMB stockholders on June 27, 2016:

ABOUT THE CUSHING® MLP MARKET CAP INDEX

The Cushing® MLP Market Cap Index provides a benchmark that is designed to track the performance of widely held master limited partnerships (MLPs). The Index is weighted on a float-adjusted market capitalization basis, with the weight of each constituent capped at 7.5% at rebalance. The Index price level is calculated by S&P Dow Jones Indices while the constituents are selected from the entire universe of publicly traded MLPs. The Cushing® MLP Market Cap Index is calculated by S&P Dow Jones Indices and reported on a real-time basis under the Bloomberg ticker "CMCI".

ABOUT SWANK CAPITAL AND CUSHING® ASSET MANAGEMENT

Cushing® Asset Management, LP ("Cushing"), a subsidiary of Swank Capital, LLC, is an SEC-registered investment adviser headquartered in Dallas, Texas. Cushing serves as investment adviser to affiliated funds and managed accounts which invest primarily in securities of MLPs and other natural resource companies.

Cushing is also dedicated to serving the needs of MLP and energy income investors by sponsoring a variety of industry benchmarks, including The Cushing® 30 MLP Index (Bloomberg Ticker: MLPX), The Cushing® MLP High Income Index (Bloomberg Ticker: MLPY) and The Cushing® Upstream Energy Income Index (Bloomberg Ticker: CRTY). For more information, please visit www.swankcapital.com/the-cushing-indices.

The Cushing® MLP Market Cap Index (the "Index") is the exclusive property of Cushing Asset Management, LP, which has contracted with S&P Opco, LLC (a subsidiary of S&P Dow Jones Indices LLC) ("S&P Dow Jones Indices") to calculate and maintain the Index. S&P® is a registered trademark of Standard & Poor's Financial Services LLC ("SPFS"); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"); and, these trademarks have been licensed to S&P Dow Jones Indices. "Calculated by S&P Dow Jones Indices" and its related stylized mark(s) have been licensed for use by Cushing Asset Management, LP. Neither S&P Dow Jones Indices, SPFS, Dow Jones nor any of their affiliates sponsor and promote the Index and none shall be liable for any errors or omissions in calculating the Index.

CUSH-CMCI

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SOURCE Cushing Asset Management, LP; Swank Capital, LLC