Saba Capital Income & Opportunities Fund (NYSE:BRW) ("BRW") and Saba Capital Income & Opportunities Fund II (NYSE:SABA) ("SABA") today announced that the previously approved reorganization of BRW and SABA has been terminated, with plans to reevaluate alternatives in the future. Each fund Board's determination to no longer proceed with the reorganization was based on management's recommendation due to current market conditions.

 

In addition, each fund's previously approved share repurchase program will continue in effect.

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