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Oxford Lane Capital Corp. Updates Prior Announcement of Redemption of 8.50% Series 2017 Term Preferred Stock

GREENWICH, CT--(Marketwired - Jun 30, 2015) - Oxford Lane Capital Corp. (the "Company") ( NASDAQ : OXLC ) ( NASDAQ : OXLCP ) ( NASDAQ : OXLCO ) ( NASDAQ : OXLCN ) issued a press release on June 23, 2015 (the "Prior Press Release") announcing that it had called for redemption and will redeem on July 24, 2015 (the "Redemption Date") all of the issued and outstanding shares (an aggregate of 632,450 shares) of the Company's 8.50% Series 2017 Term Preferred Stock (the "Shares"), which is traded on the NASDAQ Global Select Market under the ticker OXLCP, for a redemption price of $25 per Share plus $0.13577 in accrued but unpaid dividends per Share to the Redemption Date, for an aggregate redemption price of $25.13577 per Share. The July 10, 2015 record date for the redemption of the Shares noted in the Prior Press Release, however, was designated solely for the internal purposes of the Redemption and Paying Agent, and will have no effect on the redemption of the Shares. As a result, anyone who holds the Shares on the Redemption Date will have their Shares redeemed.

About Oxford Lane Capital Corp.

Oxford Lane Capital Corp. is a publicly-traded registered closed-end management investment company. It currently seeks to achieve its investment objective of maximizing total return by investing in securitization vehicles which, in turn, primarily invest in senior secured loans made to companies whose debt is unrated or is rated below investment grade.

Forward-Looking Statements

This press release contains forward-looking statements subject to the inherent uncertainties in predicting future results and conditions. Any statements that are not statements of historical fact (including statements containing the words "believes," "plans," "anticipates," "expects," "estimates" and similar expressions) should also be considered to be forward-looking statements. Certain factors could cause actual results and conditions to differ materially from those projected in these forward-looking statements. These factors are identified from time to time in our filings with the Securities and Exchange Commission. We undertake no obligation to update such statements to reflect subsequent events, unless required to do so by law.