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MCG Capital Stockholders Elect Companya?s Director Nominees

^{Published on 2010-05-26 07:15:25 - Market Wire}
 

ARLINGTON, Va.--([ BUSINESS WIRE ])--MCG Capital Corporation (Nasdaq: MCGC) (aMCGa or the aCompanya) today announced that, based on the preliminary results from todaya™s 2010 annual meeting, MCG stockholders have re-elected both of the Companya™s director nominees a" Steven F. Tunney, Sr. and Kim D. Kelly a" to the MCG Board of Directors by a substantial margin. Stockholders also have approved the ratification of the Companya™s independent registered public accounting firm for the year ending December 31, 2010, and amendments to the Companya™s employee and non-employee director restricted stock plans. The proposals related to the issuance of securities below net asset value and the issuance of securities to subscribe to, convert to, or purchase shares of the Companya™s common stock did not pass.

"On behalf of MCGa™s Board of Directors and management team, we thank stockholders for their patience and overwhelming support throughout this process"

aOn behalf of MCGa™s Board of Directors and management team, we thank stockholders for their patience and overwhelming support throughout this process,a said Steven F. Tunney, Sr., President and CEO of MCG. aTodaya™s outcome demonstrates the confidence that MCG stockholders have in our leadership team. We remain dedicated and focused on executing our comprehensive strategy to maximize value for all MCG stockholders.a

IVS Associates, Inc., the independent Inspector of Elections, has indicated that it expects to issue a preliminary tabulation of the vote results early next week. Final results of the matters voted on at the annual meeting will be announced once they are certified by the Inspector.

About MCG Capital Corporation

MCG Capital Corporation is a solutions-focused commercial finance company providing capital and advisory services to middle-market companies throughout the United States. Our investment objective is to achieve current income and capital gains. Our capital is generally used by our portfolio companies to finance acquisitions, recapitalizations, buyouts, organic growth and working capital. For more information, please visit [ www.mcgcapital.com ].

Forward-looking Statements:

Statements in this press release regarding managementa™s future expectations, beliefs, intentions, goals, strategies, plans or prospects, including statements regarding the results of the 2010 Annual Meeting may constitute forward-looking statements for purposes of the safe harbor protection under applicable securities laws.Forward-looking statements can be identified by terminology such as aanticipate,a abelieve,a acould,a acould increase the likelihood,a aestimate,a aexpect,a aintend,a ais planned,a amay,a ashould,a awill,a awill enable,a awould be expected,a alook forward,a amay provide,a awoulda or similar terms, variations of such terms or the negative of those terms.Such forward-looking statements involve known and unknown risks, uncertainties and other factors including those risks, uncertainties and factors referred to in MCGa™s Quarterly Report on Form 10-Q for the quarter ended March 31, 2010 filed with the Securities and Exchange Commission under the section aRisk Factors,a as well as other documents that may be filed by MCG from time to time with the Securities and Exchange Commission.As a result of such risks, uncertainties and factors, actual results may differ materially from any future results, performance or achievements discussed in or implied by the forward-looking statements contained herein, in particular if the final results of the vote taken atthe Annual Meeting differs from the preliminary results stated herein, if the results of such votes are subject to challenge or if the Company is otherwise unable to execute, or is unsuccessful in executing, its current strategic plan. MCG is providing the information in this press release as of this date and assumes no obligations to update the information included in this press release or revise any forward-looking statements, whether as a result of new information, future events or otherwise.