Oxford Lane Capital Corp. Announces Preferred Stock Offering

Oxford Lane Capital Corp. (the "Company")

and

today announced that it plans to offer shares of its Series 2024 Term Preferred Shares (the "Preferred Stock") in an underwritten public offering. The public offering price and other terms of the Preferred Stock are to be determined by negotiations between the Company and the underwriters. The Company also plans to grant the underwriters a 30-day option to purchase additional shares of Preferred Stock on the same terms and conditions to cover over-allotments, if any. The Preferred Stock is listed on the NASDAQ Global Select Market under the symbol "OXLCN." Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc. (NYSE MKT:

), and Deutsche Bank Securities Inc. are acting as the joint bookrunning managers for the offering. BB&T Capital Markets, a division of BB&T Securities, LLC, and Maxim Group LLC are acting as co-managers for the offering. The Company plans to use the net proceeds of this offering for acquiring investments and/or for general working capital purposes, which may include the payment of operating expenses, including advisory and administrative fees and expenses, and/or for the redemption of all or a portion of its Series 2017 Term Preferred Shares when they become redeemable after December 31, 2014. This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities in this offering or any other securities nor will there be any sale of these securities or any other securities referred to in this press release in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or jurisdiction.