Business NewsMarketWire • Prospect Capital Files Preliminary Proxy Statement With SEC in Opposition to Ares/Allied Merger as Part of Enhanced Bid for Allied Capital

Prospect Capital Files Preliminary Proxy Statement With SEC in Opposition to Ares/Allied Merger as Part of Enhanced Bid for Allied Capital

Prospect Capital Files Preliminary Proxy Statement With SEC in Opposition to Ares/Allied Merger as Part of Enhanced Bid for Allied Capital

NEW YORK, NY--(Marketwire - February 1, 2010) - Prospect Capital Corporation (NASDAQ: PSEC) ("Prospect") on Friday, January 29, 2010 filed with the Securities and Exchange Commission a preliminary proxy statement in opposition to the proposed merger between Allied Capital Corporation ("Allied") and Ares Capital Corporation ("Ares") in furtherance of Prospect's increased proposal to acquire Allied made on January 26, 2010. "We believe that our increased merger proposal should not only provide superior value to Allied shareholders, when compared to the Ares proposal, but also should provide significant value to Prospect shareholders," said John F. Barry III, Chairman and CEO of Prospect. "In our view, the credit markets have improved significantly since October when Allied agreed to merge with Ares. We believe the significant improvement in the credit markets likely increases the value of the Allied portfolio since

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