Kayne Anderson MLP Investment Company Executes Definitive Agreement for Private Placement of $50 Million of Mandatory Redeemable Preferred Shares

Kayne Anderson MLP Investment Company (the “Company”) (NYSE:KYN)
announced today that it executed a definitive agreement for the private
placement of $50 million of Series J Mandatory Redeemable Preferred
Shares (the “Series J MRP Shares”) with an institutional investor. The
Series J MRP Shares will mature on November 9, 2021 and pay quarterly
cash dividends at a rate of 3.36% per annum. Funding will take place on
November 9, 2016. Net proceeds from the offering will be used to
refinance existing leverage and for general corporate purposes.

The Series J MRP Shares will not be registered under the Securities Act
of 1933, and may not be offered or sold in the United States absent
registration or an applicable exemption from registration.

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 (collectively, “MLPs”),
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.

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