Kayne Anderson MLP Investment Company Provides Unaudited Balance Sheet Information and Announces its Net Asset Value and Asset Coverage Ratios at December 31, 2011

Kayne Anderson MLP Investment Company (the Company) (NYSE:
KYN) 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 December 31, 2011. As of
December 31, 2011, the Companys net assets were $2.2 billion, and
its net asset value per share was $28.73. As of December 31, 2011,
the Companys asset coverage ratio under the 1940 Act with respect
to senior securities representing indebtedness was 403% and the
Companys asset coverage ratio under the 1940 Act with respect to
total leverage (debt and preferred stock) was 304%.
Kayne Anderson MLP Investment Company Balance Sheet December 31,
2011 (Unaudited) (in millions) Per Share Investments $
3,783.5 $ 50.36 Cash 6.5 0.09 Deposits 0.4 Accrued income 0.6 0.01
Receivable for securities sold 9.5 0.13 Other assets 9.2 0.12 Total
assets 3,809.7 50.71 Credit facility borrowings 22.0 0.29
Senior notes 775.0 10.32 Preferred stock 260.0 3.46 Total leverage
1,057.0 14.07 Payable for securities purchased 22.2 0.30
Deferred tax liability 562.6 7.49 Other liabilities 9.2 0.12 Total
liabilities 594.0 7.91 Net assets $ 2,158.7 $ 28.73
The Company had 75.13 million common shares outstanding as of
December 31, 2011. Long-term investments were comprised of
Midstream MLPs (68%), MLP Affiliates (10%), General Partner MLPs
(8%), Shipping MLPs (5%), Propane MLPs (2%), Upstream MLPs Income
Trust (2%) and Coal MLPs Other (5%). The Companys ten largest
holdings by issuer at December 31, 2011 were: Units(in
thousands) Amount ($ millions) Percent of Long-Term
Investments 1. Enterprise Products Partners L.P. (Midstream MLP)
7,286 337.9 8.9% 2. Kinder Morgan Management, LLC (MLP Affiliate)
3,740 293.7 7.8% 3. Plains All American Pipeline, L.P. (Midstream
MLP) 2,951 216.7 5.7% 4. MarkWest Energy Partners, L.P. (Midstream
MLP) 3,750 206.5 5.5% 5. Energy Transfer Equity, L.P. (General
Partner MLP) 4,425 179.5 4.7% 6. Williams Partners L.P. (Midstream
MLP) 2,850 171.0 4.5% 7. Magellan Midstream Partners, L.P.
(Midstream MLP) 2,389 164.5 4.3% 8. Regency Energy Partners LP
(Midstream MLP) 6,310 156.9 4.1% 9. El Paso Pipeline Partners, L.P.
(Midstream MLP) 3,918 135.6 3.6% 10. ONEOK Partners, L.P.
(Midstream MLP) 2,307 133.2 3.5% 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.