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Press release from Business Wire

Ares Capital Corporation Announces Management Promotions

<p class='bwalignc'> <i>Michael J. Arougheti Promoted to CEO and R. Kipp deVeer III Promoted to President;</i> </p> <p class='bwalignc'> <i>Also Messrs. Beckman, Goldstein and Smith Named as Executive Vice Presidents</i> </p>

Monday, May 06, 2013

Ares Capital Corporation Announces Management Promotions

16:15 EDT Monday, May 06, 2013

NEW YORK (Business Wire) -- Ares Capital Corporation (Nasdaq: ARCC) announced today that its Board of Directors has promoted its President, Michael J. Arougheti, to Chief Executive Officer, and four longstanding executives of its investment adviser, Ares Capital Management LLC, to officer roles within Ares Capital Corporation.

Michael J. Arougheti has been promoted to Chief Executive Officer. Mr. Arougheti served as the President of Ares Capital Corporation since its IPO in 2004 until his promotion to Chief Executive Officer and has served as a director since 2009. Mr. Arougheti will also continue to serve as a Senior Partner in the Private Debt Group of Ares Management LLC, a global alternative asset manager and an SEC-registered investment adviser, a member of Ares Management's Executive Committee and a member of Ares Capital Management's Investment Committee.

R. Kipp deVeer III has been promoted to President. Mr. deVeer will also continue to serve as a Senior Partner in the Private Debt Group of Ares Management and as a member of Ares Capital Management's Investment Committee. Mr. deVeer has been with Ares Management since 2004.

Eric B. Beckman has been promoted to Executive Vice President. Mr. Beckman will also continue to serve as a Senior Partner in the Private Debt Group of Ares Management and as a member of Ares Capital Management's Investment Committee. Mr. Beckman has been with Ares Management since 1998.

Mitchell S. Goldstein has been promoted to Executive Vice President. Mr. Goldstein will also continue to serve as a Senior Partner in the Private Debt Group of Ares Management and as a member of Ares Capital Management's Investment Committee. Mr. Goldstein has been with Ares Management since 2005.

Michael L. Smith has been promoted to Executive Vice President. Mr. Smith will also continue to serve as a Senior Partner in the Private Debt Group of Ares Management and as a member of Ares Capital Management's Investment Committee. Mr. Smith has been with Ares Management since 2004.

“These promotions recognize the leadership that these individuals have demonstrated since ARCC's formation and solidify their roles in leading the company going forward,” said Bennett Rosenthal, Chairman of Ares Capital Corporation. “On behalf of the Board, we congratulate Mike, Kipp, Eric, Mitch and Mike on their accomplishments in growing our company and look forward to their continued contributions in the future.”

“I am honored by the Board's continued support and confidence in the management team,” said Michael Arougheti, Chief Executive Officer. “I also want to congratulate Kipp, Eric, Mitch and Mike on their accomplishments and look forward to continuing our working relationship.”

ABOUT ARES CAPITAL CORPORATION

Ares Capital is a leading specialty finance company that provides one-stop financing solutions to U.S. middle market companies and private equity sponsors. Ares Capital originates and invests in senior secured loans, mezzanine debt and, to a lesser extent, equity investments through its national direct origination platform. Ares Capital's investment objective is to generate both current income and capital appreciation through debt and equity investments primarily in private companies. Ares Capital has elected to be regulated as a business development company and is externally managed by a wholly owned subsidiary of Ares Management LLC. Ares Management is a global alternative asset manager and an SEC-registered investment adviser with approximately $59 billion of committed capital under management as of March 31, 2013.

FORWARD-LOOKING STATEMENTS

Statements included herein may constitute “forward-looking statements,” which relate to future events or our future performance or financial condition. These statements are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results and conditions may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in Ares Capital's filings with the U.S. Securities and Exchange Commission. Ares Capital undertakes no duty to update any forward-looking statements made herein.

Ares Capital Corporation
Carl G. Drake, 888-818-5298

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