HOUSTON, Feb 02, 2010 (BUSINESS WIRE) ----Kayne Anderson MLP Investment Company (the "Company") (NYSE: KYN) today provided a summary unaudited balance sheet and announced its net asset value and asset coverage ratios under the Investment Company Act of 1940 (the "1940 Act") as of January 31, 2010.

As of January 31, 2010, the Company's net assets were $1.249 billion and its net asset value per share was $21.49. As of January 31, 2010, the Company's asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 456% and the Company's asset coverage ratio under the 1940 Act with respect to total leverage (debt and preferred stock) was 380%.

   Kayne Anderson MLP Investment Company
   Balance Sheet
   January 31, 2010
   (Unaudited)
   (in millions)
   Investments                                      $       1,862.4
   Repurchase agreements and cash                           0.8
   Deposits                                                 0.4
   Accrued income                                           14.4
   Receivable for securities sold                           5.4
   Other assets                                             2.7
   Total assets                                             1,886.1
   Short-term borrowings                                    2.0
   Senior notes                                             370.0
   Preferred stock                                          75.0
   Total leverage                                           447.0
   Payable for securities purchased                         32.8
   Deferred tax liability                                   149.2
   Other liabilities                                        8.0
   Total liabilities                                        190.0
   Net assets                                       $       1,249.1
   58.1 million common shares currently outstanding
   

Long-term investments were comprised of Midstream MLPs (70%), General Partner MLPs (8%), MLP Affiliates (9%), Propane MLPs (7%), Shipping (4%), Upstream MLPs (1%), and Coal and Other MLPs (1%).

The Company's ten largest holdings by issuer at January 31, 2010 were:

   Units/Par ($)   Amount        Percent of
   (in thousands)  ($ millions)  Long-Term
   Investments
   1.   Plains All American Pipeline, L.P. (Midstream MLP)   2,876           152.7         8.2%
   2.   Enterprise Products Partners L.P. (Midstream MLP)    4,399           134.9         7.2%
   3.   Magellan Midstream Partners, L.P. (Midstream MLP)    3,130           131.4         7.1%
   4.   Kinder Morgan Management, LLC (MLP Affiliate)        2,303           124.7         6.7%
   5.   Inergy, L.P. (Propane MLP)                           3,432           122.3         6.6%
   6.   MarkWest Energy Partners, L.P. (Midstream MLP)       3,450 / $2,000  101.9         5.5%
   7.   Energy Transfer Partners, L.P. (Midstream MLP)       1,912           85.5          4.6%
   8.   Copano Energy L.L.C. (Midstream MLP)                 3,634 / $2,300  84.9          4.6%
   9.   Energy Transfer Equity, L.P. (General Partner MLP)   2,473           79.2          4.3%
   10.  Regency Energy Partners LP (Pipeline MLP)            3,272 / $3,000  77.0          4.1%
   

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
   

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