Blackstone / GSO Long-Short Credit Income Fund Declares Monthly Distributions of $0.108 Per Share

  Blackstone / GSO Long-Short Credit Income Fund Declares Monthly
  Distributions of $0.108 Per Share

Business Wire

NEW YORK -- August 23, 2013

Blackstone / GSO Long-Short Credit Income Fund (the “Fund”) (NYSE: BGX)
announced the declaration of monthly distributions of $0.108 per common share,
payable on the dates noted below. Based on the Fund’s initial public offering
price of $20.00 per share and current share price of $18.12 (as of its close
on August 22, 2013), the distributions represent an annualized yield of 6.48%
and 7.15% respectively.

BGX’s strategy allows the manager to allocate to both floating rate loans and
high yield bonds, while maintaining a core portfolio of 70% secured loans.
With an asset composition of just over 75% floating rate loans, we believe
that the Fund is well positioned to take advantage of a potential rise in
interest rates.

The following dates apply to the distributions declared:

Ex-Date: September 18, 2013
Record Date: September 20, 2013
Payable Date: September 30, 2013
Per Share Amount: $0.108

Ex-Date: October 16, 2013
Record Date: October 18, 2013
Payable Date: October 31, 2013
Per Share Amount: $0.108

Ex-Date: November 14, 2013
Record Date: November 18, 2013
Payable Date: November 29, 2013
Per Share Amount: $0.108


A portion of each distribution may be treated as paid from sources other than
net investment income, including but not limited to short-term capital gain,
long-term capital gain or return of capital. The final determination of the
source of these distributions will be made after the Fund’s year end.

The amounts and sources of distributions reported are only estimates and are
not provided for tax reporting purposes. The actual amounts and sources of the
amounts for tax reporting purposes will depend upon the Fund’s investment
experience during the remainder of its fiscal year and may be subject to
changes based on tax regulations. The Fund will send to investors, a Form
1099-DIV for the calendar year that will define how to report these
distributions for federal income tax purposes.

Blackstone / GSO Long-Short Credit Income Fund

The Fund is a non-diversified, closed-end management investment company that
is managed by GSO / Blackstone Debt Funds Management LLC, an affiliate of The
Blackstone Group L.P. (“Blackstone”) and subsidiary of GSO Capital Partners LP
(“GSO”). The Fund’s primary objective is to provide current income, with a
secondary objective of capital appreciation. There can be no assurance the
Fund will achieve its investment objectives. Additional information is
available at www.blackstone-gso.com/bgx-index.php.

About The Blackstone Group and GSO Capital Partners

Blackstone is one of the world’s leading investment and advisory firms. We
seek to create positive economic impact and long-term value for our investors,
the companies we invest in, the companies we advise and the broader global
economy. We do this through the commitment of our extraordinary people and
flexible capital. Our credit business, GSO Capital Partners LP, with
approximately $62 billion of assets under management as of June 30, 2013, is
one of the largest credit-oriented alternative asset managers in the world and
a major participant in leveraged finance. GSO specializes in collateralized
loan obligation vehicles (CLOs) and credit-oriented funds, which include
leveraged loans, special situations, mezzanine, distressed, secondary market
and rescue financing credit strategies. Our other alternative asset management
businesses include the management of private equity funds, real estate funds,
hedge fund solutions and closed-end funds. Blackstone also provides various
financial advisory services, including financial and strategic advisory,
restructuring and reorganization advisory and fund placement services. Further
information is available at www.blackstone.com. Follow us on Twitter
@Blackstone.

Blackstone / GSO Long-Short Credit Income Fund is a closed-end fund and
closed-end funds do not continuously issue shares for sale as open-end mutual
funds do. Since its initial public offering, the Fund has traded on the New
York Stock Exchange under the symbol BGX. Investors wishing to buy or sell
shares need to place orders through an intermediary or broker.

Contact the Fund at 1-877-299-1588 or visit the Fund’s website at
www.blackstone-gso.com/bgx-index.php for additional information.

Contact:

Blackstone / GSO Long-Short Credit Income Fund
Jane Lee, 877-876-1121