Fifth Street Finance Corp. Announces a 10% Increase to Its Monthly Dividend, Representing an Annualized Run Rate of $1.10 Per

Fifth Street Finance Corp. Announces a 10% Increase to Its Monthly Dividend,
Representing an Annualized Run Rate of $1.10 Per Share

WHITE PLAINS, NY, July 7, 2014 (GLOBE NEWSWIRE) -- Fifth Street Finance Corp.
(NASDAQ:FSC) ("FSC") today announced that its Board of Directors declared
monthly dividends of 9.17 cents per share for September 2014 through November
2014, an annualized dividend run rate of $1.10 per share. The new dividend
represents a 10% increase over the 8.33 cents per share monthly dividend
declared through August 2014.

The following table reflects the per share dividends which the Board of
Directors declared on July 2, 2014:

                                    
Record Date        Payment Date       Amount
September 15, 2014 September 30, 2014 $0.0917
October 15, 2014   October 31, 2014   $0.0917
November 14, 2014  November 28, 2014  $0.0917

"At FSC, we are executing on strategic initiatives intended to drive future
earnings growth, including the timely funding of an initial portfolio in SLF
JV 1, a joint venture between FSC and a subsidiary of Kemper Corporation
(NYSE:KMPR).Continuing to fund additional investments in SLF JV 1 along with
potentially completing and expanding other similar joint ventures have
provided our Board of Directors with confidence in making its most recent
dividend declaration.As a result, we are pleased to announce a 10% increase
in our monthly dividend to an annualized run rate of $1.10 per share beginning
in September 2014," stated FSC's Chief Executive Officer, Leonard M.
Tannenbaum.

Dividends may include net investment income, capital gains and/or return of
capital.The tax status of distributions will be determined at the end of the
taxable year.

About Fifth Street Finance Corp.'s Dividend Reinvestment Plan

FSC's amended dividend reinvestment plan ("DRIP") provides for reinvestment of
dividends, unless stockholders elect to receive cash.As a result, if FSC's
Board of Directors declares a cash dividend, FSC's stockholders whose shares
are registered in their name and who have not "opted out" of FSC's DRIP will
have their cash dividends automatically reinvested in additional shares of FSC
common stock, rather than receiving cash dividends. FSC provides up to a 5%
discount on newly-issued shares purchased through the DRIP (provided that
shares are not issued at less than net asset value per share). If you are a
FSC stockholder and your shares of FSC common stock are held through a
brokerage firm or other financial intermediary and you wish to participate in
the DRIP, please contact your broker or other financial intermediary.

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.FSC'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, an SEC-registered
investment adviser and leading alternative asset manager with $5 billion in
assets under management.With a track record of more than 16 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.Fifth Street Management received the 2014 ACG
New York Champion's Award for "Senior Lender Firm of the Year" and was named
both 2013 "Lender Firm of the Year" by The M&A Advisor and "Lender of the
Year" by Mergers & Acquisitions. 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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