Kayne Anderson Energy Development Company Increases Quarterly Distribution by 22.6% to $0.38 per Share

Kayne Anderson Energy Development Company

announced today its quarterly distribution of $0.38 per share for the quarter ended May 31, 2011, representing an increase of 22.6% from the prior quarter's distribution of $0.31 per share. The Company also announced today its unaudited net asset value of $234 million or $22.75 per share as of May 31, 2011, representing an increase of $0.87 per share (4.0%) from the Company's NAV of $21.88 as of February 28, 2011. The distribution will be payable on July 22, 2011 to common stockholders of record on July 13, 2011, with an ex-dividend date of July 11, 2011. It is anticipated that none of this distribution will be treated as a return of capital for tax purposes. The final determination of such amount will be made in early 2012 when the Company can determine its earnings and profits. The final tax status of the distribution may differ substantially from this preliminary information.