Fifth Street Finance Corp. Locks $43 Million of SBIC Debentures; Now Utilizing Entire $225 Million of Capacity With a Blended

Fifth Street Finance Corp. Locks $43 Million of SBIC Debentures; Now Utilizing
Entire $225 Million of Capacity With a Blended Interest Rate Fixed at 3.323%
Per Annum

WHITE PLAINS, NY, March 24, 2014 (GLOBE NEWSWIRE) -- Fifth Street Finance
Corp. (NASDAQ:FSC) ("FSC") today announced that Fifth Street Mezzanine
Partners V, L.P., its second SBIC subsidiary, had pricing fixed on the
remaining $43 million of its outstanding debentures at an interest rate of
3.191% per annum for 10 years. As a result, the total fixed debentures
outstanding in connection with both SBIC licenses increased to $225 million
(the limit for a family of funds) with a blended interest rate of 3.323% per
annum. In addition, FSC maintains relationships with multiple bank lenders,
has several different types of unsecured debt with staggered maturities and is
rated investment grade by both Fitch Ratings and Standard and Poor's.

About Fifth Street Finance Corp.

Fifth Street Finance Corp. is a leading specialty finance company that
provides custom-tailored financing solutions to small and mid-sized companies,
primarily in connection with investments by private equity sponsors. The
company originates and invests in one-stop financings, first lien, second
lien, mezzanine debt and equity co-investments. The company's investment
objective is to maximize its portfolio's total return by generating current
income from its debt investments and capital appreciation from its equity
investments. The company has elected to be regulated as a business development
company and is externally managed by Fifth Street Management LLC. Named both
2013 "Lender Firm of the Year" by The M&A Advisor and "Lender of the Year" by
Mergers & Acquisitions, Fifth Street Management is an SEC-registered
investment adviser and leading alternative asset manager with over $3 billion
in assets under management. With a track record of more than 15 years, Fifth
Street's nationally recognized platform has the ability to hold loans up to
$150 million, commit up to $250 million and structure and syndicate
transactions up to $500 million. FSC's website can be found at
fsc.fifthstreetfinance.com.

Forward-Looking Statements

This press release may contain certain forward-looking statements, including
statements with regard to the future performance of the company. Words such as
"believes," "expects," "estimates," "projects," "anticipates," and "future" or
similar expressions are intended to identify forward-looking statements. These
forward-looking statements are subject to the inherent uncertainties in
predicting future results and conditions. Certain factors could cause actual
results to differ materially from those projected in these forward-looking
statements, and these factors are identified from time to time in the
company's filings with the Securities and Exchange Commission. 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: Investor Contact:
         Dean Choksi, Executive Director of Finance &
         Head of Investor Relations
         (914) 286-6855
         dchoksi@fifthstreetfinance.com
        
         Media Contact:
         Nick Rust
         Prosek Partners
         (212) 279-3115 ext. 252
         pro-fifthstreet@prosek.com

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