The Stone Harbor Emerging Markets Total Income Fund Announces A Special Distribution

NEW YORK, Dec. 14, 2012

As of December 13, 2012, the Fund's market price was $25.02 per share and its net asset value was $24.78 per share.

The special distribution is intended to allow the Fund to meet its 2012 distribution requirement for federal excise tax purposes. The Fund currently estimates that the entire distribution will consist of ordinary income. For calendar 2012 the total of distributions per share were $0.2441 or 0.98% of the closing price December 13, 2012.

The Fund has adopted a managed distribution plan as permitted by exemptive relief obtained from the Securities and Exchange Commission. A portion of each distribution may be treated as paid from sources other than net income, including but not limited to short-term capital gain, long-term capital gain and return of capital. The final determination of the source of these distributions, including the percentage of qualified dividend income, will be made after the Fund's year end.

EDI will pay an excise distribution in 2012 as follows:

Ex Date	Record Date ARIVA.DE Börsen-Geflüster Kurse Stone Harbor Emerging Markets Total Income Fund Common Shares of Beneficial Interests -   0,00%	Payable Date
December 24, 2012	December 27, 2012	December 31, 2012

Stone Harbor Investment Partners LP ("Stone Harbor") is a global institutional fixed income investment manager, specializing in credit and asset allocation strategies. The firm manages institutional clients' assets in a range of investment products: emerging markets debt, high yield, bank loans, as well as multi-sector products, such as global high yield and core plus type investing. The firm's investment strategies are based on fundamental insights, derived from a combination of proprietary research and the in-depth knowledge and specialized experience of the firm's team. Based in New York, Stone Harbor employs over 130 people across its headquarters and offices in London and Singapore. Stone Harbor is a 100% employee-owned limited partnership.

This press release is not for tax reporting purposes but is being provided to announce the amount of the Fund's distributions that have been declared by the Board of Trustees of the Fund. In early 2013, after definitive information is available, the Fund will send shareholders a Form 1099-DIV, if applicable, specifying how the distributions paid by the Fund during the prior calendar year should be characterized for purposes of reporting the distributions on a shareholder's tax return (e.g., ordinary income, long-term capital gain or return of capital).

The Fund is a non-diversified, closed-end management investment company that is managed by Stone Harbor. The Fund's investment objective is to maximize total return, which consists of income and capital appreciation from investments in emerging markets securities.  There is no assurance that the Fund will achieve its investment objective.

The Fund seeks to achieve its investment objective by investing at least 80% of its net assets (plus borrowings for investment purposes) in emerging markets debt, which includes fixed income securities and other instruments, including derivatives, that are economically tied to emerging market countries, that are denominated in the predominant currency of the local market of an emerging market country or whose performance is linked to those countries' markets, currencies, economies or ability to repay loans.  The Fund normally expects to invest up to 20% of its total assets in emerging markets equity, which includes securities issued by either single country or regional exchange-traded funds, common stocks, preferred stocks, other equity securities and other instruments (including derivatives) that are economically tied to the equity markets of emerging market countries, that are denominated in the predominant currency of the local market of an emerging market country or whose performance is linked or otherwise related to those countries' markets, currencies, or economies. A security or instrument is economically tied to an emerging market country if it is principally traded on the country's securities markets or if the issuer is organized or principally operates in the country, derives a majority of its income from its operations within the country or has a majority of its assets within the country.

For more complete information, please call 877.206.0791 (toll-free) or visit the Fund's website - www.shiplpcef.com.  

Stone Harbor Emerging Markets Total Income Fund is a closed-end fund and closed-end funds do not continuously issue shares for sale as open-end mutual funds do. Since its initial public offering, the Fund has traded on the New York Stock Exchange under the symbol EDI. Investors wishing to buy or sell shares need to place orders through an intermediary or broker.

SOURCE Stone Harbor Investment Partners LP