MVC Capital, Inc. (NYSE: MVC), a publicly traded business development company that makes private debt and equity investments, has announced that its board of directors has declared a dividend of $0.12 per share, or a total of approximately $2.9 million, to be distributed to shareholders for the second quarter of fiscal 2011. The dividend is payable on April 29, 2011 to shareholders of record on April 25, 2010. This distribution represents the twenty-fourth consecutive quarterly dividend paid by the Fund since implementing a dividend policy in July of 2005. These quarterly dividends have resulted in approximately $67 million in distributions to the Fund’s shareholders.

The amount and specific timing of any future dividends paid pursuant to the Fund's quarterly dividend policy will be determined by the board of directors each quarter.

MVC-G

About MVC Capital, Inc.

MVC Capital is a Business Development Company traded on the New York Stock Exchange that provides long-term debt and equity investment capital to fund growth, acquisitions and recapitalizations of companies in a variety of industries. For MVC's investor relations, please call 914-510-9400. All media inquiries should be directed to Nathaniel Garnick at 212-687-8080.

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 the company's periodic filings with the Securities and Exchange Commission.

Copyright Business Wire 2010

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