Former U.S. Senator Thomas A. Daschle Joins Apollo Investment Corporation's Board of Directors

Senator Daschle is Special Policy Advisor in the Washington, D.C.office of the prominent law firm Alston & Bird, where he advisesclients on public policy issues with a special emphasis on financialservices, health care, energy, telecommunications, taxes, trade andinternational matters.

"We are pleased to have Tom Daschle join our Board," said JohnHannan, Chief Executive Officer of Apollo Investment Corporation. "Welook forward to working with him and the unique perspective he bringsto our Board."

Senator Daschle served the state of South Dakota and the UnitedStates for more than 25 years. He was elected to the House ofRepresentatives in 1978, where he served four terms, and to the Senatein 1986. He was re-elected in 1992 and 1998.

In his first year as a senator, Senator Daschle was appointed tothe powerful Senate Finance Committee, an unusual honor for afreshman. In 1988, he was named the first-ever co-chair of theDemocratic Policy Committee, making him the first South Dakotan everto hold a Senate leadership position. He became Senate Minority Leaderin 1994 and Senate Majority Leader in 2001.

Senator Daschle's appointment brings the Apollo InvestmentCorporation's Board to a total of 8 directors. Senator Daschle joinsthe following independent, non-employee directors on Apollo InvestmentCorporation's Board of Directors: Martin E. Franklin, Carl Spielvogel,Elliot Stein, Jr., Gerald Tsai, Jr. and Bradley J. Wechsler.

ABOUT APOLLO INVESTMENT CORPORATION

Apollo Investment Corporation, or the Company, is a closed-endinvestment company that has elected to be treated as a businessdevelopment company under the Investment Company Act of 1940. TheCompany's investment portfolio is principally in middle-market privatecompanies. The Company invests primarily in mezzanine loans and seniorsecured loans in furtherance of its business plan and also invests inthe equity of portfolio companies. From time to time, the Companyinvests in public companies that are not thinly traded. ApolloInvestment Corporation is managed by Apollo Investment Management,L.P., an affiliate of Apollo Management, L.P., a leading privateequity investor.

FORWARD-LOOKING STATEMENTS

Statements included herein may constitute "forward-lookingstatements" within the meaning of the Private Securities LitigationReform Act of 1995. These statements are not guarantees of futureperformance or results and involve a number of risks anduncertainties. Actual results may differ materially from those in theforward-looking statements as a result of a number of factors,including those described from time to time in our filings with theSecurities and Exchange Commission. The Company undertakes no duty toupdate any forward-looking statements made herein.