NGP Capital Resources Company Announces Plan to Retain Oak Hill Advisors, L.P. as its New Investment Advisor

Houston, July 21, 2014 (GLOBE NEWSWIRE) -- NGP Capital Resources Company (NASDAQ: NGPC)(the "Company") today announced that it has entered into anagreement with Oak Hill Advisors, L.P. ("OHA") pursuant to whichOHA will become the Company's new investment advisor, subject toapproval by the Company's stockholders and other conditions. OHA is a leading independent investment firm specializing in abroad range of fixed income investments across a wide spectrum ofindustries throughout the U.S. and Europe.  At the closing ofthe transactions contemplated by the agreement (the "Closing"), OHAwill replace NGP Investment Advisor, LP, which has served as theCompany's investment advisor since the Company's initial publicoffering in November 2004.

Ken Hersh, Chairman of the Company's Board ofDirectors, commented, "This decision is the culmination of alengthy process to evaluate strategic alternatives, which began inSeptember of last year.  After considering a wide range ofalternatives and proposals and a variety of different structures,the Board concluded that the best course of action for the Companyis to revise its current investment strategy to phase out itsprimary reliance on smaller upstream energy companies and focus onthe broader middle market debt origination and loan syndicationmarket. We believe that OHA is an excellent choice as the Company'sinvestment advisor to pursue this new strategy."

OHA has been investing in the credit markets formore than 20 years. The firm currently manages in excess of $23billion of capital across a broad range of fixed incomeinvestments, including high yield bonds, leveraged loans, directlending, distressed investments, mortgage strategies and corporatestructured products.  The firm has approximately 180 employeesand is headquartered in New York.

Pursuant to the agreement and subject to theterms and conditions set forth therein, including the approval ofthe Company's stockholders:

• OHA will become the investment advisor and administrator forthe Company under a new Investment Advisory Agreement and a newAdministration Agreement, the terms of which are designed, in part,to decrease management fees and reduce expenses in comparison withthe Company's historical levels;
• The Company's current Board of Directors will be replaced by anew slate of five directors appointed by OHA, including threeindependent directors plus Glenn R. August, Founder and ChiefExecutive Officer of OHA, who will become the Company's Chairman,and Robert B. Okun, Chief Investment Officer of U.S. Credit and aSenior Partner of OHA;
• The Company will change its name to "OHA InvestmentCorporation;" and
• An affiliate of OHA will purchase $5 million of the Company'scommon stock, of which $1 million will be purchased from theCompany at Closing, in newly issued shares at a price equal to theCompany's net asset value per share. The remaining $4 million willbe purchased in open market transactions within one year afterClosing, or in newly issued shares at the Company's net asset valueper share if not purchased within such one-year period. 

"We are very excited about this opportunity tobecome the Company's investment advisor and to take this importantstep in expanding our middle market investing business," stated Mr.August. "Our long history and proven strategy of investing in belowinvestment grade credit should provide significant opportunities toexpand the size of the Company's portfolio and attract additionalcapital for future growth."

Mr. Okun added, "Since 2002, OHA has invested $3billion in approximately 100 middle market private capitaltransactions. Many of these opportunities would have been highlyattractive investments for the Company's portfolio, as we focus ourdirect lending efforts on consistent, attractive risk-adjustedreturns."

Steve Gardner, the Company's President and ChiefExecutive Officer, said, "OHA is a well-established, highlyrespected name in the investment community.  Their provencredit investment strategy, and the size and experience of theirinvestment team across a broad geographic and industry footprintwill provide opportunities for increased middle market deal flowand efficient growth for the Company. We believe the proposedtransactions with OHA will provide excellent opportunities for ourstockholders going forward."

The appointment of OHA as the Company's newinvestment advisor is subject to the approval of the Company'sstockholders, and the Closing is subject to customary lender andregulatory approvals and the satisfaction of certain customaryclosing conditions.  The Company intends to file a preliminaryproxy statement with the U.S. Securities and Exchange Commission(the "SEC") within the next few days in connection with thestockholder approval process and the Company's annual meeting.Subject to such approvals, the Company and OHA expect that thetransactions contemplated by the agreement will close in September2014.

Keefe, Bruyette & Woods, a Stifel company,served as financial advisor to the Company in connection with theagreement.

Conference Call at 11:00 a.m. EasternTime on July 22, 2014

We invite all interested persons to participatein our conference call tomorrow morning, July 22, 2014 at 11:00a.m. Eastern Time. The dial-in number for the call is (877)303-7617. International callers should dial (760) 666-3609. Thecall will also be accessible via the internet, on the Company'sInvestor Relations page at www.ngpcrc.com.

About NGP Capital ResourcesCompany

NGP Capital Resources Company is a closed-end,non-diversified management investment company that has elected tobe regulated as a business development company under the InvestmentCompany Act of 1940. We principally invest in private companies andfrom time to time, we may also invest in public companies. Weinvest primarily in senior secured and mezzanine loans according toour business plan and in some instances receive equity interests inportfolio companies in connection with such investments. Ourmanager is NGP Investment Advisor, LP, an affiliate of NGP EnergyCapital Management ("NGP ECM"). Founded in 1988, NGP ECM is apremier investment franchise in the natural resources industry,which together with its affiliates has managed approximately $13billion in cumulative committed capital since inception. NGP ECM'sinvestment platform includes Natural Gas Partners, NGP GlobalAdaptation Partners, NGP Capital Resources Company and NGP EnergyTechnology Partners, L.P. www.ngpenergycapital.com.

About Oak Hill Advisors,L.P.

Oak Hill Advisors, L.P. is a leading independentinvestment firm specializing in high yield bonds, leveraged loans,direct lending, distressed investments, mortgage strategies andcorporate structured products throughout the United States andEurope.  OHA manages credit hedge funds, long-only funds,distressed funds, other specialty credit funds and customizedmandates. The firm employs a fundamental value-oriented strategyfocused on credit analysis, relative value analysis, risk-adjustedreturn generation, loss avoidance and active risk management thathas been in place for more than two decades.  More informationcan be found at www.oakhilladvisors.com.

Forward-Looking Statements

This press release may contain forward-lookingstatements. We may use words such as "anticipates," "believes,""intends," "plans," "expects," "projects," "estimates," "will,""should," "may" and similar expressions to identify forward-lookingstatements. These forward-looking statements are subject to variousrisks and uncertainties. Certain factors could cause actual resultsand conditions to differ materially from those projected, includingthe uncertainties associated with the timing or likelihood oftransaction closings, changes in interest rates, availability oftransactions, the  future operating results of our portfoliocompanies, regulatory factors, changes in regional, national, orinternational  economic conditions and their  impact onthe industries in which we invest, other changes in the conditionsof the industries in which we invest and other factors enumeratedin our filings with the SEC. You should not place undue reliance onsuch forward-looking statements, which speak only as of the datethey are made. We undertake no obligation to update ourforward-looking statements made herein, unless required by law.

Persons considering an investment in NGP CapitalResources Company should consider the investment objectives, risks,and charges and expenses of the Company carefully before investing.Such information and other information about us is available in ourannual report on Form 10-K, in our quarterly reports on Form 10-Qand in prospectuses we issue from time to time in connection withour offering of securities. Such materials are filed with the SECand copies are available on the SEC's website, www.sec.gov, and in the InvestorRelations section of our website at www.ngpcrc.com. Prospective investorsshould read such materials carefully before investing.

NGP CAPITAL RESOURCES COMPANYCONTACTS:

Steve Gardner (sgardner@ngpcrc.com), or

L. Scott Biar (investor_relations@ngpcrc.com), (713)752-0062

OAK HILL ADVISORS, L.P.CONTACTS:

Jeremy Fielding (Jeremy-Fielding@kekst.com),or

James David, Kekst and Company (James-David@kekst.com), (212)521-4800