Exhibit 99.1
(ALLIED CAPITAL LOGO)
Allied Capital Announces 2007 Financial Results
February 20, 2008 – Washington, DC –
Allied Capital Corporation (NYSE: ALD) today announced 2007 financial results.
Highlights for 2007
    Net investment income was $0.91 per share, or $141.0 million
 
    Net realized gains were $1.74 per share, or $268.5 million
 
    The total of net investment income and net realized gains was $2.65 per share, or $409.5 million
 
    Net unrealized depreciation was $1.66 per share, or $256.2 million; including the reversal of net unrealized appreciation associated with net realized gains of $1.25 per share, or $192.8 million and net declines in investment values of $0.41 per share, or $63.4 million
 
    Net income was $0.99 per share, or $153.3 million
 
    Paid $2.64 per share, or $407.3 million in dividends to shareholders
 
    Net asset value per share was $17.54 at December 31, 2007
 
    Shareholders’ equity was $2.8 billion at December 31, 2007
 
    New investments totaled $1.8 billion for the year, including $609.3 million in the fourth quarter
For the year ended December 31, 2007, net investment income was $141.0 million or $0.91 per share compared to net investment income of $189.2 million or $1.30 per share for the year ended December 31, 2006. For the year ended December 31, 2007, the company had net realized gains of $268.5 million, including a $262.4 million gain from the sale of its investment in Mercury Air Centers, Inc. For the year ended December 31, 2006, the company had net realized gains of $533.3 million, including a $434.4 million gain from the sale of its majority investment in Advantage Sales & Marketing, Inc.
For the year ended December 31, 2007, the sum of net investment income and net realized gains was $409.5 million or $2.65 per share, as compared to $722.5 million or $4.96 per share for the year ended December 31, 2006. Net investment income was reduced in 2007 by stock option expense of $35.2 million or $0.23 per share, which included a one-time charge of $14.4 million or $0.09 per share resulting from a FASB 123R expense related to the cancellation of stock options in conjunction with a tender offer that was completed in the third quarter of 2007. Stock option expense for 2006 was $15.6 million or $0.11 per share. In addition, net investment income was reduced by excise tax expense of $16.3 million or $0.11 per share for 2007 and $15.1 million or $0.10 per share for 2006.
For the year ended December 31, 2007, net change in unrealized appreciation or depreciation was a decrease of $256.2 million or $1.66 per share. The net depreciation for 2007 resulted from the reversal of net unrealized appreciation associated with net realized gains of $192.8 million or $1.25 per share and net declines in investment values of $63.4 million or $0.41 per share. Net declines in investment values for the year ended December 31, 2007, included depreciation of $174.5 million in the value of Ciena Capital, LLC (formerly Business Loan Express, LLC) and net appreciation in the remainder of the portfolio of $111.1 million. For the year ended December 31, 2006, net change in unrealized appreciation or depreciation was a decrease of $477.4 million or $3.28 per share. The net depreciation for 2006 resulted from the reversal of net unrealized appreciation associated with net realized gains of $479.0 million or $3.29 per share and net increases in investment values of $1.6 million or $0.01 per share.
Net income for the year ended December 31, 2007, was $153.3 million or $0.99 per share, as compared to $245.1 million or $1.68 per share for the year ended December 31, 2006.
For the three months ended December 31, 2007, net investment income was $58.0 million or $0.37 per share compared to net investment income of $49.1 million or

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The following information was filed by Allied Capital Corp on Wednesday, February 20, 2008 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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