HOUSTON, TX--(MARKET WIRE)--Apr 1, 2009 -- Kayne Anderson MLP Investment Company (the "Company") (NYSE:KYN - News) today provided a summary unaudited balance sheet and announced its net asset value and asset coverage ratios under the Investment Company Act of 1940 (the "1940 Act") as of March 31, 2009.

As of March 31, 2009, the Company's net assets were $657 million and its net asset value per share was $14.75. As of March 31, 2009, the Company's asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 341% and the Company's asset coverage ratio under the 1940 Act with respect to total leverage (debt and preferred stock) was 273%.

 
                   Kayne Anderson MLP Investment Company
                              Balance Sheet
                             March 31, 2009
                               (Unaudited)

                                                              (in millions)
                                                              -------------
Investments                                                   $       923.7
Repurchase agreements and cash                                         11.1
Deposits                                                               21.6
Net deferred tax asset(1)                                              86.2
Accrued income                                                          0.8
Receivable for securities sold                                          5.4
Other assets                                                            2.6
                                                              -------------
  Total assets                                                      1,051.4


Short-term borrowings                                                     -
Senior notes                                                          304.0
Preferred stock                                                        75.0
                                                              -------------
  Total leverage                                                      379.0
                                                              -------------

Payable for securities purchased                                        7.2
Other liabilities                                                       8.4
                                                              -------------
  Total liabilities                                                    15.6

Net assets                                                    $       656.8
                                                              -------------

44.5 million common shares currently outstanding
(1) The Company had no valuation allowance at March 31, 2009

Long-term investments were comprised of Midstream MLPs (62%), General Partner MLPs (12%), MLP Affiliates (10%), Propane MLPs (7%), Coal MLPs (3%), Upstream MLPs (3%), and Shipping and Other MLPs (3%).

The Company's ten largest holdings by issuer at March 31, 2009 were:

 
                                                             Percent of
                            Units / Par ($)     Amount        Long-Term
                            (in thousands)   ($ millions)    Investments
                            --------------- --------------- --------------
1. Plains All American
 Pipeline, L.P. (Midstream
 MLP)                                 2,876           105.7           11.4%
2. Enterprise Products
 Partners L.P. (Midstream
 MLP)                                 3,721            82.8            9.0%
3. Kinder Morgan
 Management, LLC (MLP
 Affiliate)                           1,935            78.9            8.5%
4. Energy Transfer
 Partners, L.P. (Midstream
 MLP)                                 2,073            76.5            8.3%
5. Inergy, L.P. (Propane
 MLP)                                 3,085            67.6            7.3%
6. Magellan Midstream
 Holdings, L.P. (General
 Partner MLP)                         3,034            53.1            5.7%
7. Copano Energy Partners,
 L.L.C. (Midstream MLP)               3,453            46.0            5.0%
8. Enbridge Energy Partners
 L.P. (Midstream MLP)                 1,337            40.0            4.3%
9. MarkWest Energy
 Partners, L.P. (Midstream
 MLP)                       2,326 / $ 4,295            30.0            3.2%
10. Energy Transfer Equity,
 L.P. (General Partner MLP)           1,402            29.6            3.2%

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 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.

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