Month-End Portfolio Data Now Available for Ares Management’s Closed-End Funds

Ares Capital Management II LLC today announced that monthly fund composition and performance data for Ares Dynamic Credit Allocation Fund (NYSE:ARDC) and Ares Multi-Strategy Credit Fund (NYSE:ARMF) as of June 30, 2014, are now available via www.arespublicfunds.com.

About Ares Dynamic Credit Allocation Fund

Ares Dynamic Credit Allocation Fund is a non-diversified, closed-end management company that is externally managed by Ares Capital Management II LLC, a subsidiary of Ares Management, L.P. (NYSE: ARES), a leading global alternative asset manager with approximately $77 billion in assets under management as of March 31, 20141. Ares Dynamic Credit Allocation Fund seeks to provide an attractive level of total return primarily through current income and, secondarily, through capital appreciation. The Fund invests in a broad, dynamically-managed portfolio of credit investments. There can be no assurance that the Fund will achieve its investment objective. The Fund’s net asset value may be accessed through its NASDAQ ticker symbol, XACDX. Additional information is available at www.arespublicfunds.com.

About Ares Multi-Strategy Credit Fund

Ares Multi-Strategy Credit Fund is a non-diversified, closed-end management company that is externally managed by Ares Capital Management II LLC, a subsidiary of Ares Management, L.P. (NYSE: ARES), a leading global alternative asset manager with approximately $77 billion in assets under management as of March 31, 2014i. Ares Multi-Strategy Credit Fund seeks to provide an attractive risk-adjusted level of total return, primarily through current income and, secondarily, through capital appreciation, by investing primarily in a broad, dynamically managed portfolio of below investment grade senior secured loans, high yield corporate bonds, other similar fixed-income instruments, including derivatives, collateralized loan obligations, and other asset backed securities. There can be no assurance that the Fund will achieve its investment objective. The Fund’s net asset value may be accessed through its NASDAQ ticker symbol, XAMFX. Additional information is available at www.arespublicfunds.com.

This document is not an offer to sell securities and is not soliciting an offer to buy securities in any jurisdiction where the offer or sale is not permitted. An investor should consider the Fund’s investment objective, risks, charges and expenses carefully before investing.

Ares Dynamic Credit Allocation Fund and Ares Multi-Strategy Credit Fund are closed-end funds, which do not engage in continuous offerings of their shares. Since their respective initial public offerings, the funds have traded on the New York Stock Exchange under the symbols ARDC and ARMF. Investors wishing to purchase or sell shares may do so by placing orders through a broker dealer or other intermediary.

1 Ares Management, L.P. (“Ares”) is the parent to several registered investment advisers, including Ares Capital Management II LLC. AUM refers to the assets of the funds, alternative asset companies and other entities and accounts that are managed or co‐managed by Ares. It also includes funds managed by Ivy Hill Asset Management, L.P., a wholly owned portfolio company of Ares Capital Corporation, and a registered investment adviser. It includes drawn and undrawn amounts, including certain amounts that are subject to regulatory leverage restrictions and/or borrowing base restrictions. AUM amounts are as of March 31, 2014 and differences may arise due to rounding.

Mendel Communications LLCBill Mendel, 212-397-1030bill@mendelcommunications.comorDestra Capital Investments877-855-3434ARDC@destracapital.comwww.arespublicfunds.com

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