Kayne Anderson MLP Investment Company Prices Public Follow-On Offering of Common Stock

HOUSTON--(Business Wire)--
Kayne Anderson MLP Investment Company (the "Company") (NYSE: KYN) announced
today the pricing of a public offering of common stock. The Company agreed to
sell a total of 5,500,000 shares at a price to the public of $20.25 per share
(exclusive of 825,000 shares that the underwriters may purchase pursuant to a
45-day option to cover over-allotments). Net proceeds from the offering of
approximately $107 million will be used to make new additional portfolio
investments that are consistent with the Company`s investment objective and
policies, and for general corporate purposes. The offering is scheduled to close
on August 5, 2009.

UBS Securities LLC, Citigroup Global Markets Inc., and Morgan Stanley & Co.
Incorporated are acting as joint book-running managers. RBC Capital Markets
Corporation, Stifel, Nicolaus & Company, Incorporated, SMH Capital Inc. and
Wunderlich Securities, Inc. are acting as co-managing underwriters on the
offering. A copy of the prospectus supplement and prospectus relating to the
offering may be obtained from the following addresses:

UBS Securities LLC Citigroup Global Markets Inc.
Attn: Prospectus Department Attn: Prospectus Department
299 Park Avenue Brooklyn Army Terminal
New York, NY 10171 140 58th Street, 8th Floor
Telephone: 888-827-7275 Brooklyn, NY 11220
Telephone: 800-831-9146

Morgan Stanley & Co. Incorporated
Attn: Prospectus Department
180 Varick Street, 2nd Floor
New York, NY 10014
Email:

prospectus@morganstanley.com
Telephone: 866-718-1649

Investors may also obtain these documents free of charge from the Company`s
website at www.kaynefunds.com or the SEC`s website at www.sec.gov.

This press release does not constitute an offer to sell or a solicitation to buy
the securities described herein, nor shall there be any sale of these securities
in any state or jurisdiction in which such offer or solicitation or sale would
be unlawful prior to registration or qualification under the laws of such state
or jurisdiction. A registration statement relating to these securities was filed
with, and has been declared effective by, the Securities and Exchange
Commission.

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, and in other companies that, as their principal business, operate
assets used in the gathering, transporting, processing, storing, refining,
distributing, mining or marketing of 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.

KA Fund Advisors, LLC
Monique Vo, 877-657-3863
http://www.kaynefunds.com

Copyright Business Wire 2009

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