GAIN Gladstone Investment Corporation

Gladstone Investment Corporation Completes its Initial Public Offering and Begins Trading on NASDAQ Under the Symbol: GAIN MCLEAN, Va., June 28 /PRNewswire-FirstCall/ -- Gladstone Investment Corporation (NASDAQ:GAIN) (the "Company") today announced that it sold 14,400,000 shares of its common stock in an initial public offering at a price of $15.00 per share on Wednesday, June 22, 2005. Ferris, Baker Watts was the retail book runner and Jefferies & Company, Inc. acted as the institutional book runner. RBC Capital Markets, BB&T Capital Markets, Oppenheimer & Co., Stifel, Nicolaus & Company, J.J.B. Hilliard. W.L. Lyons, Inc and Wunderlich Securities, Inc. were co-underwriters of the offering. The stock began trading June 23 on NASDAQ under the ticker "GAIN." The final prospectus related to the offering is available on the Company's website, listed under Securities and Exchange Commission's filings at http://www.gladstoneinvestment.com/secfilings.htm. A prospectus may also be obtained through the SEC website at http://www.sec.gov/. A paper copy may be obtained by writing to Gladstone Management Corporation, Investor Relations, 1521 Westbranch Drive, Suite 200, McLean, VA 22210 or by email at . Gladstone Investment Corporation is an investment company that seeks to make equity-type investments in small and mid-sized private businesses in the U.S. For more information please visit our website at http://www.gladstoneinvestment.com/. This press release may include statements that may constitute "forward- looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements with regard to the future performance of the Company. Words such as "believes," "expects," "projects" 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" of the Company's Prospectus, as filed with the Securities and Exchange Commission on May 22, 2005. 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. CONTACT: Kelly Sargent of Gladstone Investment Corporation, +1-703-287-5835, . DATASOURCE: Gladstone Investment Corporation CONTACT: Kelly Sargent of Gladstone Investment Corporation, +1-703-287-5835, Web site: http://www.gladstoneinvestment.com/

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