Kayne Anderson Energy Development Company Provides Unaudited Balance Sheet Information and Announces its Net Asset Value and Asset Coverage Ratios at October 31, 2016

Kayne Anderson Energy Development Company (the “Company”) (NYSE:KED)
today provided a summary unaudited statement of assets and liabilities
and announced its net asset value and asset coverage ratios under the
Investment Company Act of 1940 (the “1940 Act”) as of October 31, 2016.

As of October 31, 2016, the Company’s net assets were $198 million, and
its net asset value per share was $18.46. As of October 31, 2016, the
Company’s asset coverage ratio under the 1940 Act with respect to senior
securities representing indebtedness was 378% and the Company’s asset
coverage ratio under the 1940 Act with respect to total leverage (debt
and preferred stock) was 288%.

Long-term investments were comprised of Midstream MLP (87%), Midstream
Company (6%), General Partner MLP (4%) and Shipping MLP (3%).

The Company’s ten largest holdings by issuer at October 31, 2016 were:

The Company is a non-diversified, closed-end investment company
registered under the Investment Company Act of 1940. The Company's
investment objective is to generate both current income and capital
appreciation primarily through equity and debt investments. The Company
will seek to achieve this objective by investing at least 80% of its net
assets together with the proceeds of any borrowings (its "total assets")
in securities of companies that derive the majority of their revenue
from activities in the energy industry, including: (a) Midstream Energy
Companies, which are businesses that operate assets used to gather,
transport, process, treat, terminal and store natural gas, natural gas
liquids, propane, crude oil or refined petroleum products; (b) Upstream
Energy Companies, which are businesses engaged in the exploration,
extraction and production of natural resources, including natural gas,
natural gas liquids and crude oil, from onshore and offshore geological
reservoirs; and (c) Other Energy Companies, which are businesses engaged
in owning, leasing, managing, producing, processing and sale of coal and
coal reserves; the marine transportation of crude oil, refined petroleum
products, liquefied natural gas, as well as other energy-related natural
resources using tank vessels and bulk carriers; and refining, marketing
and distributing refined energy products, such as motor gasoline and
propane to retail customers and industrial end-users.

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 materially
differ from the Company's historical experience and its present
expectations or projections indicated in any forward-looking statement.
These risks include, but are not limited to, changes in economic and
political conditions; regulatory and legal changes; energy industry
risk; commodity pricing risk; leverage risk; valuation risk;
non-diversification 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.

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