New MVC Management Provides Investor Update

17 Mar '03
Mar 17, 2003

New MVC Management Provides Investor Update

MENLO PARK, CA - March 17, 2003 - MVC Capital (NYSE: MVC), today announced that, consistent with the previously stated objectives of the Fund's new management, the Board's valuation committee is conducting a thorough review of the Fund's holdings to assess the fair value of its investments. As a result, MVC will temporarily suspend reporting NAV and will delay filing its 10-Q for the period ended January 31, 2003 until after the portfolio review is completed.

MVC Capital is a publicly traded business development company. For additional information about the Fund, please contact Kim Levy or Keil Decker at 212-687-8080.