SOURCE: Kayne Anderson MLP Investment Company

April 18, 2008 17:18 ET

Kayne Anderson MLP Investment Company Enters Into New $200 Million Unsecured Revolving Credit Facility

HOUSTON, TX--(Marketwire - April 18, 2008) - Kayne Anderson MLP Investment Company (the "Company") (NYSE: KYN) announced that on April 15, 2008 it entered into a new $200 million unsecured revolving credit facility with the Custodial Trust Company ("CTC"). The facility has a 364-day commitment terminating on April 14, 2009 that may be extended for additional non-overlapping 364-day periods if mutually agreed upon by both the Company and CTC. The Company's previous $200 million secured revolving credit facility with CTC was uncommitted.

The Company currently had approximately $27 million outstanding under its credit facility as of April 15, 2008. Outstanding loan balances will accrue interest daily at a rate equal to the one-month LIBOR plus 1.65 percent. The Company will pay a fee equal to a rate of 0.50 percent on any unused amounts of the credit facility.

"Our new committed revolving credit facility provides assurance that funds will be available to take advantage of attractive investment opportunities or for refinancing other indebtedness of the Company," said Kevin McCarthy, CEO and President.

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.

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