Guggenheim Equal Weight Enhanced Equity Income Fund January 2014 Distribution

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| Source: Guggenheim Investments Illinois

NEW YORK, Jan. 27, 2014 (GLOBE NEWSWIRE) -- Guggenheim Equal Weight Enhanced Equity Income Fund (NYSE:GEQ) announced today important information concerning its distribution declared on January 2, 2014. This press release is issued as required by the Fund's managed distribution plan and an exemptive order received from the U.S. Securities and Exchange Commission. The Board of Trustees has approved the implementation of a distribution policy to make quarterly cash distributions to common shareholders, stated in terms of a fixed amount per common share. This information is sent to you for informational purposes only and is an estimate of the sources of the January 2014 distribution. It is not determinative of the tax character of the Fund's distributions for the calendar year. Shareholders should note that the Fund's total regular distribution amount is subject to change as a result of market conditions or other factors.

The amounts and sources of distributions reported in this notice are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund's investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes.

Distribution Period: January 2014
Record Date: January 15, 2014
Payable Date: January 31, 2014
Distribution Amount Per Common Share: $0.4375

The following table sets forth the estimated amounts of the current distribution and the cumulative distributions paid this fiscal year to date from the following sources: net investment income; net realized short-term capital gains; net realized long-term capital gains and return of capital. All amounts are expressed per common share.

         
  Current Distribution ($) % Breakdown of the Current Quarterly Distribution Total Cumulative Distributions for the Fiscal Year to Date ($) % Breakdown of the Total Cumulative Distributions for the Fiscal Year to Date
Net Investment Income $ 0.0116 2.65% $ 0.0116 2.65%
Net Realized Short- Term Capital Gains -- -- -- --
Net Realized Long- Term Capital Gains -- -- -- --
Return of Capital $ 0.4259 97.35% $ 0.4259 97.35%
Total (per common share) $ 0.4375 100.00% $ 0.4375 100.00%

You should not necessarily draw any conclusions about the Fund's investment performance from the amount of this distribution or from the terms of the Fund's managed distribution plan.

The Fund estimates that it has distributed more than its income and capital gains; therefore, a portion of your distribution may be a return of capital. A return of capital may occur, for example, when some or all of the money that you invested in the Fund is paid back to you. A return of capital distribution does not necessarily reflect the Fund's Investment performance and should not be confused with "yield" or "income".

Set forth in the table below is information relating to the Fund's performance based on its net asset value (NAV) for certain periods.

   
Average annual total return (in relation to NAV) for the period since inception (October 27, 2011) to December 31, 2013 13.33%
Annualized current distribution rate expressed as a percentage of NAV as of December 31, 2013 8.33%
Cumulative total return (in relation to NAV) for the fiscal year through December 31, 2013 20.28%
Annualized cumulative fiscal year distributions as a percentage of NAV as of December 31, 2013 8.33%

About Guggenheim Investments

Guggenheim Investments represents the investment management division of Guggenheim Partners, LLC ("Guggenheim"), which consists of investment managers with approximately $172 billion in combined total assets*. Collectively, Guggenheim Investments has a long, distinguished history of serving institutional investors, ultra-high-net-worth individuals, family offices and financial intermediaries. Guggenheim Investments offers clients a wide range of differentiated capabilities built on a proven commitment to investment excellence. Guggenheim Investments has offices in Chicago, New York City and Santa Monica, along with a global network of offices throughout the United States, Europe, and Asia.

Guggenheim Investments is comprised of several investment management entities within Guggenheim, which includes Guggenheim Funds Distributors, LLC and Guggenheim Funds Investment Advisors, LLC (together, "Guggenheim Funds"). Guggenheim Funds Investment Advisors, LLC serves as Investment Adviser for GEQ.

* Guggenheim Investments total asset figure is as of 12.31.2013 and includes $12.497B of leverage for Assets Under Management and $0.390B of leverage for Serviced Assets.  Total assets include assets from Security Investors, LLC, Guggenheim Partners Investment Management, LLC, Guggenheim Funds and its affiliated entities, and some business units including Guggenheim Real Estate, LLC, Guggenheim Aviation, GS GAMMA Advisors, LLC, Guggenheim Partners Europe Limited, Transparent Value Advisors, LLC, and Guggenheim Partners India Management.  Values from some funds are based upon prior periods.

This information does not represent an offer to sell securities of the Fund and it is not soliciting an offer to buy securities of the Fund. There can be no assurance that the Fund will achieve its investment objective. Investments in the Fund involve operating expenses and fees. The net asset value of the Fund will fluctuate with the value of the underlying securities. It is important to note that closed-end funds trade on their market value, not net asset value, and closed-end funds often trade at a discount to their net asset value. Past performance is not indicative of future performance. An investment in closed-end funds is subject to investment risk, including the possible loss of the entire amount that you invest. Some general risks and considerations associated with investing in a closed-end fund include: Investment and Market Risk; Lower Grade Securities Risk; Equity Securities Risk; Foreign Securities Risk; Interest Rate Risk; Illiquidity Risk; Derivative Risk; Management Risk; Anti-Takeover Provisions; Market Disruption Risk and Leverage Risk. See www.guggenheiminvestments.com/cef for a detailed discussion of fund-specific risks.

Investors should consider the investment objectives and policies, risk considerations, charges and expenses of any investment before they invest. For this and more information visit www.guggenheiminvestments.com or contact a securities representative or Guggenheim Funds Distributors, LLC 2455 Corporate West Drive, Lisle, IL 60532, 800-345-7999.

NOT FDIC-INSURED | NOT BANK-GUARANTEED | MAY LOSE VALUE
Member FINRA/SIPC (1/14)

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