GAIN Gladstone Investment Corporation

MCLEAN, Va., Oct. 11 /PRNewswire-FirstCall/ -- Gladstone Investment Corp. (NASDAQ:GAIN) (the "Company") announced today that the Board of Directors declared its cash dividends of $0.04 per common share for each of the months of October, November and December of 2005. Monthly dividends will be payable on October 31, 2005, November 30, 2005, and December 30, 2005 to shareholders of record for those dates on October 21, 2005, November 21, 2005 and December 21, 2005, respectively. This represents a 100% increase in the monthly dividend of $0.02 per common share paid for the months of July, August and September 2005. Gladstone Investment offers a Dividend Reinvestment Plan (DRIP). For more information regarding the DRIP, please visit our website at http://www.gladstoneinvestment.com/. The Company estimates the tax characteristics of its dividend on a quarterly basis and those estimates are subject to recharacterization. The current dividend is estimated to be a distribution of ordinary income. The actual tax characteristics will be reported to each shareholder on Form 1099 for the year ending December 2005. Summary Table for the third quarter of 2005: Declared X-Dividend Record Date Payment Date Amount October 11 October 19 October 21 October 31 $0.04 October 11 November 17 November 21 November 30 $0.04 October 11 December 19 December 21 December 30 $0.04 Total for the Quarter Ending December 31, 2005: $0.12 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/. For further information contact our Investor Relations Manager, Kelly Sargent at 703-287-5835. 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," "estimated," "estimates," "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 Registration Statement on Form N-2, as filed with the Securities and Exchange Commission on June 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. DATASOURCE: Gladstone Investment Corp. CONTACT: Kelly Sargent, Investor Relations Manager of Gladstone Investment Corp., +1-703-287-5835 Web site: http://www.gladstoneinvestment.com/

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