Allied Capital Earnings To Be Released February 24, 2010; Conference Call Scheduled

Allied Capital Corporation (NYSE: ALD) announced that it will release fourth quarter 2009 results on Wednesday, February 24, 2010. The company will host a webcast/conference call at 10:15 a.m. (Eastern Standard Time) that morning to discuss the results for the quarter. All interested parties are welcome to attend the live webcast, which will be hosted through our web site at www.alliedcapital.com. Please visit the web site to test your connection before the call. You can also access the conference call by dialing [phone] approximately 15 minutes prior to the call. International callers should dial [phone]. All callers should reference the Allied Capital Fourth Quarter 2009 Earnings Call or passcode “55558256.”

An archived replay of the event will be available through March 10, 2010 by calling [phone] (international callers please dial [phone]). Please reference passcode “55558256”. An archived replay will also be available on our website. For complete information about the webcast/conference call and the replay, please visit our website or call Allied Capital Investor Relations at [phone].

About Allied Capital

Allied Capital (NYSE: ALD) is a business development company (BDC) that is regulated under the Investment Company Act of 1940. Allied Capital invests long-term debt and equity capital in middle market businesses nationwide. Founded in 1958 and operating as a public company since 1960, Allied Capital has been investing in the U.S. entrepreneurial economy for over 50 years. Allied Capital has a diverse portfolio of investments in 92 companies across a variety of industries. For more information, please visit www.alliedcapital.com, call Allied Capital investor relations toll-free at [phone], or e-mail us at [e-mail].

Forward-Looking Statements

The information contained in this press release contains forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. Certain factors could cause actual results and conditions to differ materially from those projected in these forward-looking statements, and these factors are enumerated in Allied Capital’s filings with the Securities and Exchange Commission.