Solar Capital Announces June 30, 2011 Financial Results, NII $0.59 Per Share; Declares Quarterly Dividend Of $0.60 Per Share

Solar Capital Ltd. (NASDAQ: SLRC), today reported net investment income (NII) of $0.59 per share for the three months ended June 30, 2011, with a net asset value (NAV) per share of $23.22 and net income per share of $0.34. Solar Capital also announced that its Board of Directors has declared a third quarter dividend of $0.60 per share, payable on October 4, 2011 to stockholders of record on September 20, 2011. The Company expects the dividend to be paid from taxable earnings with specific tax characteristics reported to stockholders after the end of the calendar year.

Selected Highlights
($ in millions, except per share amounts)
			June 30, 2011					December 31, 2010
Investment Portfolio			$	1,004.5				$	976.2
Total Assets			$	1,400.5				$	1,291.8
Net Assets			$	846.3				$	827.0
NAV per share			$	23.22				$	22.73
Investment Portfolio Composition:
Senior Secured Loans			$	303.4				$	247.1
Subordinated Debt			$	608.2				$	649.8
Equity Investments			$	92.9				$	79.3
Weighted Average Portfolio Statistics:
Yield on Fair Value				14.0	%				14.3	%
Yield on Cost				13.4	%				13.8	%

Earnings Highlights
			Three months ended									Six months ended
			June 30, 2011					June 30, 2010				June 30, 2011				June 30, 2010
Investment income			$	35.3				$	28.3			$	67.6			$	63.6
Net investment income			$	21.4				$	15.2			$	40.5			$	36.3
Net realized and unrealized gain				(9.0	)				1.3				20.9				42.2
Net income			$	12.4				$	16.5			$	61.4			$	78.5

“Once again, we had sequential improvement in our net investment income per share,” said Michael Gross, Chairman and CEO of Solar Capital Ltd. “We have additional low cost capital available to invest. Our low cost financing affords us the ability to take advantage of the attractive investment environment.”

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