Shareholders Approve all Proxy Proposals at Gladstone Capital Annual Shareholders Meeting

MCLEAN, Va.--(BUSINESS WIRE)-- Gladstone Capital Corp. (NASDAQ:GLAD) (the "Company") announced today that shareholders voted in favor of all proxy proposals set forth in the proxy statement and discussed at today's Annual Shareholders Meeting held at the Hilton McLean Tysons Corner in McLean, VA.

Those who held shares of Gladstone Capital Corporation as of December 5, 2008, the record date for the Annual Shareholders Meeting, were entitled to vote on the matters set forth on the proxy card and explained in the proxy statement which was distributed to all shareholders. The matters approved at the meeting were election of four directors to hold office until the 2012 Annual Meeting, approval of a proposal to authorize the Company to sell shares of its common stock at a price below its then current net asset value per share, and ratification of the selection of PricewaterhouseCoopers LLP as the Company's independent registered public accounting firm for its fiscal year ending September 30, 2009.

Gladstone Capital is a specialty finance company that invests in debt securities consisting primarily of senior term loans, second lien loans, and senior subordinate loans in small and medium sized businesses. For more information please visit our website at www.GladstoneCapital.com.

Please contact Investor Relations with any questions at 703-287-5893.

This press release may include statements that may constitute "forward-looking statements," including statements with regard to the future performance of the Company. Words such as "should," "could," "believes," "feel," "expects," "confident," "estimated," "projects," "strive," "goals," "seeks," and "future" or similar expressions are intended to identify forward-looking statements. These forward-looking statements inherently involve certain risks and uncertainties, although they are based on the Company's current plans that are believed to be reasonable as of the date of this press release. Factors that may cause the Company's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements include, among others, those factors listed under the caption "Risk Factors" in the Company's Form 10-K for the fiscal year ended September 30, 2008, as filed on December 2, 2008 and the Company's Quarterly Report on Form 10-Q for the quarter ended December 31, 2008, as filed on February 3, 2009. The Company cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

    Source: Gladstone Capital Corp.

Released February 19, 2009