PSEC – A Prospect Capital Fund

Prospect Capital Schedules First Fiscal Quarter Earnings Release and Conference Call

November 6, 2007

NEW YORK, NY — (MARKET WIRE) — 11/06/07 — Prospect Capital Corporation (NASDAQ: PSEC)(the “Company”) announced today that it expects to file its 10-Q reportwith its first fiscal quarter results for the period ended September 30,2007, by Friday, November 9, 2007, and issue its earnings press releasebefore the opening of the financial markets on Monday, November 12, 2007.

The Company will host a conference call on Monday, November 12, 2007, at11:00 am Eastern Time. The conference call dial-in number will be877-407-0782. A recording of the conference call will be available forapproximately 30 days. To hear a replay, call 877-660-6853 and use Accountnumber 286 and Conference ID number 261411.

About Prospect Capital Corporation

Prospect Capital Corporation (www.prospectstreet.com/) is a closed-endinvestment company that lends to and invests in private and microcap publicbusinesses. Prospect Capital’s investment objective is to generate bothcurrent income and capital appreciation through debt and equityinvestments.

Prospect Capital has elected to be treated as a business developmentcompany under the Investment Company Act of 1940 (“1940 Act”). We arerequired to comply with a series of regulatory requirements under the 1940Act as well as applicable NASDAQ, federal and state laws and regulations.We have elected to be treated as a regulated investment company under theInternal Revenue Code of 1986. Failure to comply with any of the laws andregulations that apply to Prospect Capital could have a material adverseeffect on Prospect Capital and its shareholders.

This press release contains forward-looking statements within the meaningof the Private Securities Litigation Reform Act of 1995. Any suchstatements, other than statements of historical fact, are likely to beaffected by other unknowable future events and conditions, includingelements of the future that are or are not under the Company’s control, andthat the Company may or may not have considered; accordingly, suchstatements cannot be guarantees of any aspect of future performance.Actual developments and results are highly likely to vary materially fromthese estimates and projections of the future. Such statements speak onlyas of the time when made, and the Company undertakes no obligation toupdate any such statement now or in the future.

Contact:Please send investment proposals to:Prospect Capital CorporationGrier Eliasekgrier@prospectstreet.com(212) 448-0702