Business Development Corporation of America Names Robert Grunewald Chief Investment Officer

Seasoned Business Development Executive Joins Adviser to Business Development Corporation of America

NEW YORK--(EON: Enhanced Online News)--The Board of Directors of Business Development Corporation of America (“BDCA”), a non-traded business development company, announced today that Robert Grunewald has joined BDCA Adviser, LLC as its Chief Investment Officer. Mr. Grunewald will work closely with Peter Budko, CEO of BDCA Adviser, in this executive leadership role. He will have primary responsibility for the identification, acquisition and management of investments for Business Development Corporation of America, an American Realty Capital-sponsored public non-listed business development company.

“With over 25 years of experience in middle market finance, business development companies and asset management, Mr. Grunewald brings an unusually broad and diverse skill set to our company”

“With over 25 years of experience in middle market finance, business development companies and asset management, Mr. Grunewald brings an unusually broad and diverse skill set to our company,” commented Peter Budko, CEO of BDCA Adviser, LLC, the adviser to the Company. “Within the finance industry, he has participated as a lender, investment banker, M&A advisor, portfolio manager and hedge fund operator. Mr. Grunewald’s unparalleled relationships and contacts within the middle market finance arena will allow BDCA to source attractive debt and equity investments from a large universe of middle market originators and sponsors.”

Mr. Grunewald commented, “I am thrilled to join Pete and the American Realty Capital and BDCA teams. I very much look forward to putting my experience and relationships to work for an organization focused on excellence and industry best practices. We intend to deliver to our retail investors best of class investment solutions traditionally reserved for a small set of institutions.”

As head of Financial Services M&A at NationsBank/Montgomery Securities from 1992 through 1997, Mr. Grunewald and his team completed numerous assignments for clients throughout the specialty finance industry. In 1997, Mr. Grunewald was recruited to head up the Specialty Finance Investment Banking Practice at what became Wachovia Securities. At Wachovia, Bob managed a number of high profile transactions, including initial public offerings and secondary offerings for some of the largest publicly-traded BDCs and finance companies including CapitalSource, American Capital Strategies, Allied Capital, Ares Capital and Gladstone Capital.

In 2006, Mr. Grunewald joined American Capital Strategies (ACAS), a publicly-traded BDC and global asset manager with current assets under management in excess of $52 billion. As head of the Financial Services Investment Practice from 2006 through 2009, Mr. Grunewald and his team focused on investment activity in the specialty finance, insurance, depository and asset management sectors. In his three years at ACAS, Mr. Grunewald committed over $1 billion to debt and equity investments and also founded two highly successful financial services companies at ACAS: Core Financial Holdings, a diversified commercial finance company and asset based lender, and American Capital Agency Corporation (NASDAQ:AGNC), a publicly traded mortgage REIT, currently with over $43 billion in assets.

A registration statement relating to the common stock of BDCA was filed with and has been declared effective by the U.S. Securities and Exchange Commission (the “SEC”). These securities have not been approved or disapproved by the SEC or any state securities commission, nor have they passed upon the accuracy or adequacy of the prospectus. The offering of BDCA’s common stock is being made solely by means of a written prospectus forming part of the effective registration statement. The prospectus, which is available at http://www.sec.gov or may be obtained by calling 1-877-373-2522, contains additional information about BDCA. The prospectus should be read carefully by an investor before investing. Investors are advised to consider the investment objective, risks, charges and expenses of BDCA carefully before investing. This press release is not an offer to sell these securities and is not soliciting an offer to buy these securities in any state where the offer and sale is not permitted.

This press release may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results and trends could differ materially from those set forth in such statements due to various factors.