SOURCE: Kayne Anderson MLP Investment Company

October 02, 2007 11:57 ET

Kayne Anderson MLP Investment Company Announces Its Net Asset Value at September 30, 2007

LOS ANGELES, CA--(Marketwire - October 2, 2007) - Kayne Anderson MLP Investment Company (the "Company") (NYSE: KYN) today announced its net asset value at September 30, 2007.

At September 30, 2007, the Company's net assets were $1.3 billion and its net asset value per share was $29.95, based on 43.0 million shares outstanding.

At September 30, 2007, the Company's total assets and long-term investments were $2.2 billion. Long-term investments were comprised of Midstream MLPs (77%), Upstream MLPs (7%), Propane MLPs (5%), MLP Affiliates (4%), Coal MLPs (3%), Shipping MLPs (2%) and Other (2%).

The Company's ten largest holdings by issuer at September 30, 2007, with comparative holdings at August 31, 2007, were:

                        August 31, 2007            September 30, 2007
                     --------------------- --------------------------------
                       Units      Amount     Units      Amount  Percent of
                        (in         ($        (in         ($    Long-Term
                     thousands) millions)  thousands) millions) Investments
                     ---------- ---------- ---------- ---------- ---------
1. Energy Transfer
    Partners, L.P.        4,262      221.8      4,212      205.7       9.4%
2. Plains All
    American Pipeline,
    L.P.                  3,112      179.1      3,112      169.6       7.7%
3. Enterprise
    Products Partners
    L.P.                  5,463      161.2      5,463      165.2       7.5%
4. Magellan
    Midstream Partners,
    L.P.                  3,871      166.4      3,756      150.3       6.8%
5. Copano Energy
    Partners, L.L.C.      3,923      153.0      3,901      143.3       6.5%
6. Kinder Morgan
    Management, LLC       2,897      139.4      2,897      135.4       6.2%
7. Crosstex Energy,
    L.P.                  2,971      104.5      2,971      101.9       4.6%
8. Inergy, L.P.           2,839       92.5      2,839       89.8       4.1%
9. Enbridge Energy
    Partners, L.P.        1,487       75.8      1,493       72.9       3.3%
10. MarkWest Energy
     Partners, L.P.       2,183       69.6      2,183       66.9       3.0%

Kayne Anderson MLP Investment Company is a non-diversified, closed-end management investment company registered under the Investment Company Act of 1940, whose common stock is traded on the NYSE. The Company's investment objective is to obtain a high after-tax total return by investing at least 85% of its total assets in energy-related master limited partnerships and their affiliates, and in other companies that, as their principal business, operate assets used in the gathering, transporting, processing, storing, refining, distributing, mining or marketing natural gas, natural gas liquids (including propane), crude oil, refined petroleum products or coal.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This press release contains "forward-looking statements" as defined under the U.S. federal securities laws. Generally, the words "believe," "expect," "intend," "estimate," "anticipate," "project," "will" and similar expressions identify forward-looking statements, which generally are not historical in nature. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ from the Company's historical experience and its present expectations or projections indicated in any forward-looking statements. These risks include, but are not limited to, changes in economic and political conditions; regulatory and legal changes; MLP industry risk; leverage risk; valuation risk; interest rate risk; tax risk; and other risks discussed in the Company's filings with the SEC. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. The Company undertakes no obligation to publicly update or revise any forward-looking statements made herein. There is no assurance that the Company's investment objectives will be attained.