NEW YORK, NY--(MARKET WIRE)--Mar 16, 2009 -- The Zweig Fund, Inc. (NYSE:ZF - News) announced that its first quarterly distribution for 2009 will be $0.075 per share, payable on April 27, 2009, to shareholders of record on April 8, 2009 (ex-date April 6, 2009).

The distribution represents a cash dividend yield of 10% on an annualized basis. Distributions may represent earnings from net investment income, capital gains, excess gains taxable as ordinary income or, if necessary, return of capital. The tax status of the Fund's distributions is determined at the end of the taxable year.

The Zweig Fund, Inc. is a closed-end fund with an objective of increasing capital primarily through investment in equity securities consistent with the preservation of capital and reduction of risk as determined by the fund's investment adviser. The Zweig closed-end funds are advised by Zweig Advisers LLC. For more information on the Fund, please contact shareholder services at 800.272.2700 or visit us on the web at www.virtus.com.

     For Further Information:
     Zweig Funds Shareholder Services
     (800) 272-2700
      
     Patricia Baronowski
     The Altman Group
     (212) 400-2604