Allied Capital Corporation Announces Separation of Chairman and CEO Roles and Promotion of John M. Scheurer to CEO

• Press Release
• Source: Allied Capital
• On 7:10 am EST, Monday March 2, 2009

WASHINGTON--(BUSINESS WIRE)--Allied Capital (NYSE: ALD - News) announced today that the roles of Chairman of the Board and CEO are being separated effective March 3, 2009.

William L. Walton, who has been Chairman of the Board, President and Chief Executive Officer since 1997 and a director since 1986, will continue to serve full time as the Company’s Chairman of the Board. In that capacity, he will be an executive officer and be responsible for the overall strategic direction of the Company.

John M. Scheurer, Managing Director of the Company who has held key leadership positions during his 18-year tenure, has been appointed Chief Executive Officer and President. Mr. Scheurer will assume responsibility for the executive management of the Company.

“During this critical time for the financial services industry, with the increasingly challenging environment, we believe that separating the Executive Chairman and CEO roles to expand our executive leadership team will enable me to focus on my responsibilities as Chairman and John to devote his full attention to the management of our business. John brings decades of experience, demonstrated leadership and investment credentials and a long list of achievements at Allied Capital to this role as the Company’s Chief Executive Officer. His deep knowledge of our business and his commitment to building value for our shareholders makes him the right choice for this role,” said Mr. Walton.

Mr. Scheurer commented, “I am looking forward to working with Bill, our Board and our management team on our common mission of building value for our shareholders.”

About Allied Capital

Allied Capital (NYSE: ALD - News) is a business development company (BDC) in the U.S. that is regulated under the Investment Company Act of 1940. Allied Capital invests long-term debt and equity capital in middle market businesses nationwide. Founded in 1958 and operating as a public company since 1960, Allied Capital has been investing in the U.S. entrepreneurial economy for 50 years. Allied Capital has a diverse portfolio of investments in 117 companies across a variety of industries. For more information, please visit www.alliedcapital.com, call Allied Capital investor relations toll-free at (888) 818-5298, or e-mail us at ir@alliedcapital.com.

Forward-Looking Statements

The information contained in this press release contains 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 and conditions to differ materially from those projected in these forward-looking statements, and these factors are enumerated in Allied Capital’s filings with the Securities and Exchange Commission.

Investor Relations Inquiries:
Allied Capital Corporation
Shelley Huchel, 202-721-6100
or
Media Inquiries:
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Tom Becker, 212-573-6100