NexPoint Credit Strategies Fund Announces the Regular Monthly Dividend

NexPoint Credit Strategies Fund (NYSE: NHF) (“NHF” or the “Fund”) today announced its regular monthly dividend on its common stock. A dividend of $.050 per share will be payable on the last business day of August to shareholders of record at the close of business August 22, 2013. As of July 31, 2013, the Trust had estimated undistributed net investment income of approximately $6.0 million (unaudited).

The Fund is a closed-end fund managed by NexPoint Advisors, L.P. (the “Manager”), an affiliated adviser of Highland Capital Management, L.P. The Fund invests primarily in below investment grade debt and equity and has the ability to hedge risk. The Manager attempts to deliver consistent returns in excess of the DJ Credit Suisse Hedge Fund and the HFRX Global Hedge Fund indices in a transparent, registered fund format with consistent monthly dividends.

Shareholder Loyalty Program

In July 2012, the Manager implemented a unique and creative shareholder loyalty program (the “Program”). The purpose of the Program is to promote shareholder loyalty and the Program is available to all existing shareholders. Existing shareholders that purchase additional shares of NHF through the Program are entitled to a 2% gross-up (the “Gross-up Shares”). The Gross-up Shares are funded by the Manager and are used to purchase shares of NHF to be held in escrow for 12 months. If at the end of the 12 month period the shareholder continues to hold the additional purchased shares, the Gross-up Shares are transferred out of escrow and to the shareholder’s brokerage account. Employees of the Manager and affiliates are entitled to a larger gross-up than unaffiliated shareholders. As of June, 2013, the Program holds shares valued at $34 million representing approximately 6.8% of the outstanding shares of the Fund.

Total operating expenses as of the most recent fund prospectus are 2.26%. Performance data represents past performance, which does not guarantee future results. Current performance may be higher or lower than the figures shown. Investment return and principal value will fluctuate with market conditions, and you may have a gain or loss when you sell your shares. For most recent month-end performance please visit www.nexpointadvisors.com or call 866-351-4440.

The information in this presentation contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the fact that they do not relate strictly to historical or current facts. Forward-looking statements often include words such as "anticipates," "estimates," "expects," "projects," "intends," "plans," "believes" and words and terms of similar substance in connection with discussions of future operating or financial performance.

These forward-looking statements are based on our current expectations and assumptions regarding the fund’s portfolio and performance, the economy and other future conditions and forecasts of future events, circumstances and results. As with any projection or forecast, they are inherently susceptible to uncertainty and changes in circumstances. The fund’s actual results may vary materially from those expressed or implied in its forward-looking statements.

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. 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.