Not good. Should not trade at premium to NAV, obviously.

Houston, TX – December 18, 2008 – Kayne Anderson MLP Investment Company (the “Company”) (NYSE: KYN) declared today its quarterly dividend/distribution of $0.50 per share for the period September 1, 2008 to November 30, 2008 and stated that it expects to generate sufficient cash and other income from portfolio investments to sustain this quarterly dividend/distribution during fiscal year 2009.
The dividend/distribution for the quarter ended November 30, 2008 will be payable on January 9, 2009 to common stockholders of record on January 5, 2009, with an ex-dividend date of January 2, 2009. It is anticipated that substantially all of this dividend/distribution will be treated as a return of capital. The final determination of such amount will be made in early 2009 when the Company can determine its earnings and profits. The final tax status of the dividend/distribution may differ substantially from this preliminary information.
"We are pleased to be able to maintain our distribution in spite of the very difficult market conditions for MLPs, as the lost income from the assets that were sold during the quarter was more than offset by lower interest costs, lower management fees and lower operating expenses. Based on our current expectations of distributions from our portfolio investments, we expect to generate sufficient cash and other income to sustain this distribution rate during 2009," stated Kevin McCarthy, CEO of the Company.
“Payment of future distributions is subject to board approval, as well as meeting the covenants of our senior debt and the asset coverage requirements of the 1940 Act. Of course, should market conditions deteriorate further and/or MLP distributions be less than our expectations, we would re-evaluate the appropriate distribution rate at that time," said Mr. McCarthy.