MVC Capital Declares Third Quarter 2018 Dividend

MVC Capital, Inc. (NYSE:MVC), a publicly traded business development company that makes private debt and equity investments, announced today that its board of directors declared a regular dividend of $0.15 per share. The dividend is payable on July 31, 2018 to shareholders of record on July 26, 2018. The distribution represents the fifty-third consecutive quarterly dividend paid by the Company since implementing a dividend policy in July of 2005. The cumulative dividends issued under current management total approximately $7.14 per share.

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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 acquisitions, growth and recapitalizations of companies in a variety of industries. For MVC's investor relations, please call Jackie Rothchild at 914-510-9400 or Jeffrey Goldberger at 212-896-1249.

Forward-Looking Statements

The amount and specific timing of any future dividends is subject to the final determination of the Board of Directors and depends upon the actual results of the Company and applicable provisions of law. At this time, the Fund is unable to make a conclusive determination as to the characteristics of the distributions discussed herein. All or a portion of the distribution may be characterized as ordinary income, capital gains, or a return of capital. In January, a Form 1099 DIV will be sent to shareholders that will state the aggregate amount and actual tax characterization of distributions for the preceding year. There can be no assurance that future MVC dividend payments will match or exceed historic ones, or that they will be made at all.

Contact:

Investor Relations

Jackie Rothchild

MVC Capital, Inc.

914-510-9400