Kayne Anderson MLP Investment Company Provides Unaudited Balance Sheet Information and Announces its Net Asset Value and Asset Coverage Ratios at August 31, 2009

As of August 31, 2009, the Company's net assets were $924 million and its net asset value per share was $18.02. As of August 31, 2009, the Company's asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 427% and the Company's asset coverage ratio under the 1940 Act with respect to total leverage (debt and preferred stock) was 343%.

Kayne Anderson MLP Investment Company
Balance Sheet
August 31, 2009
(Unaudited)
                                   (in millions)
Investments                        $         1,349.4
Repurchase agreements and cash               1.7
Deposits                                     0.1
Accrued income                               0.7
Receivable for securities sold               0.3
Other assets                                 2.3
Total assets                                 1,354.5
Short-term borrowings                        2.0
Senior notes                                 304.0
Preferred stock                              75.0
Total leverage                               381.0
Payable for securities purchased             19.5
Deferred tax liability                       19.3
Other liabilities                            10.6
Total liabilities                            49.4
Net assets                         $         924.1
51.3 million common shares currently outstanding

Long-term investments were comprised of Midstream MLPs (64%), General Partner MLPs (14%), MLP Affiliates (8%), Propane MLPs (7%), Shipping (4%), Upstream MLPs (2%), and Coal and Other MLPs (1%).

The Company's ten largest holdings by issuer at August 31, 2009 were:

                                                               Units/Par ($)    Amount         Percent of
                                                               (in thousands)   ($ millions)   Long-Term
                                                                                               Investments
1.   Plains All American Pipeline, L.P. (Midstream MLP)        2,876            136.5          10.1%
2.   Enterprise Products Partners L.P. (Midstream MLP)         3,829            103.4          7.7%
3.   Inergy, L.P. (Propane MLP)                                3,216            89.7           6.6%
4.   Kinder Morgan Management, LLC (MLP Affiliate)             1,844            87.3           6.5%
5.   Energy Transfer Partners, L.P. (Midstream MLP)            1,812            73.5           5.4%
6.   Magellan Midstream Holdings, L.P. (General Partner MLP)   3,224            70.2           5.2%
7.   Energy Transfer Equity, L.P. (General Partner MLP)        2,490            66.9           5.0%
8.   MarkWest Energy Partners, L.P. (Midstream MLP)            2,733 / $9,649   65.5           4.9%
9.   Copano Energy, L.L.C. (Midstream MLP)                     3,370            52.3           3.9%
10.  Enbridge Energy Partners, L.P. (Midstream MLP)            1,214            52.0           3.9%

Kayne Anderson MLP Investment Company is a non-diversified, closed-end management investment company registered under the Investment Company Act of 1940, whose common stock is traded on the NYSE. The Company's investment objective is to obtain a high after-tax total return by investing at least 85% of its total assets in energy-related master limited partnerships and their affiliates, and in other companies that, as their principal business, operate assets used in the gathering, transporting, processing, storing, refining, distributing, mining or marketing natural gas, natural gas liquids (including propane), crude oil, refined petroleum products or coal.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This press release contains "forward-looking statements" as defined under the U.S. federal securities laws. Generally, the words "believe," "expect," "intend," "estimate," "anticipate," "project," "will" and similar expressions identify forward-looking statements, which generally are not historical in nature. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ from the Company's historical experience and its present expectations or projections indicated in any forward-looking statements. These risks include, but are not limited to, changes in economic and political conditions; regulatory and legal changes; MLP industry risk; leverage risk; valuation risk; interest rate risk; tax risk; and other risks discussed in the Company's filings with the SEC. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. The Company undertakes no obligation to publicly update or revise any forward-looking statements made herein. There is no assurance that the Company's investment objectives will be attained.

SOURCE: Kayne Anderson MLP Investment Company

KA Fund Advisors, LLC 
Monique Vo, 877-657-3863 
http://www.kaynefunds.com