Ares Multi-Strategy Credit Fund, Inc. Declares Special Distribution

NEW YORK--(BUSINESS WIRE)--

Ares Multi-Strategy Credit Fund, Inc. (the "Fund") ARMF announced the declaration of a special distribution of the Fund of $0.0676 per common share (the "Special Distribution"). The Special Distribution will be in addition to the $0.1525 per share distribution declared by the Fund on August 11, 2015 (together with the Special Distribution, the "Distributions"). The Distributions are payable as noted below.

	Ex-Date:				August 25, 2015
	Record Date:				August 27, 2015
	Payable Date:				August 28, 2015
	Total Per Share Amount:				$0.2201

The Special Distribution is being declared in connection with the reorganization of the Fund into Ares Dynamic Credit Allocation Fund, Inc. ARDC, whereby ARDC would acquire all of the assets and assume the stated liabilities of the Fund in exchange for newly issued shares of ARDC, with ARDC being the surviving fund (the "Reorganization"). The Reorganization is expected to close on or about August 31, 2015. The Reorganization was approved by stockholders at a joint special meeting held on July 14, 2015.

The timing and amount of these and any other distributions, if any, are at the discretion of the Fund. As required by Section 19(a) of the Investment Company Act of 1940, a notice will be distributed to the Fund's stockholders in the event that a portion of a distribution is derived from sources other than undistributed net investment income, such as from short-term capital gain, long-term capital gain, or return of capital. Such notices will also be posted on the Fund's website at www.arespublicfunds.com.

The amounts and sources of distributions reported are only estimates and are not provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund's investment performance during the remainder of its taxable year and may be subject to change based on tax regulations. In January or February, investors will be sent a Form 1099 DIV for the previous year that will define how to report these distributions for federal income tax purposes.

This press release is not intended to, and does not constitute, an offer to purchase or sell shares of the Fund or ARDC.

About Ares Multi-Strategy Credit Fund, Inc.

Ares Multi-Strategy Credit Fund, Inc. ("ARMF") is a non-diversified, closed-end management company that is externally managed by Ares Capital Management II LLC, a subsidiary of Ares Management, L.P. ARMF seeks to provide an attractive risk-adjusted level of total return, primarily through current income and, secondarily, through capital appreciation. ARMF invests in a broad, dynamically managed portfolio of credit investments. There can be no assurance that ARMF will achieve its investment objective. ARMF's net asset value may be accessed through its NASDAQ ticker symbol, XAMFX. Additional information is available at www.arespublicfunds.com.

About Ares Management, L.P.

Ares Management, L.P. ARES is a leading global alternative asset manager with approximately $88 billion¹ of assets under management and more than 15 offices in the United States, Europe and Asia as of June 30, 2015. Since its inception in 1997, Ares has adhered to a disciplined investment philosophy that focuses on delivering strong risk-adjusted investment returns throughout market cycles. Ares believes each of its four distinct but complementary investment groups in Tradable Credit, Direct Lending, Private Equity and Real Estate is a market leader based on assets under management and investment performance. Ares was built upon the fundamental principle that each group benefits from being part of the greater whole.

Forward-Looking Statements

Statements included herein may constitute "forward-looking statements" within the meaning of the U.S. securities laws, and may relate to future events or our future performance or financial condition. These statements are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in our filings with the Securities and Exchange Commission and others beyond the Fund's control. Ares Multi-Strategy Credit Fund, Inc. undertakes no duty to update any forward-looking statements made herein.

This document is not an offer to sell securities and is not soliciting an offer to buy securities in any jurisdiction where the offer or sale is not permitted. An investor should consider the Fund's investment objective, risks, charges and expenses carefully before investing.

Ares Multi-Strategy Credit Fund is a closed-end fund, which does not engage in a continuous offering of its shares. Since its initial public offering, the Fund has traded on the New York Stock Exchange under the symbol ARMF. Investors wishing to purchase or sell shares may do so by placing orders through a broker dealer or other intermediary.

¹ As of June 30, 2015, AUM amounts include capital available to vehicles managed or co-managed by Ares, including funds managed by Ivy Hill Asset Management, L.P., a wholly owned portfolio company of Ares Capital Corporation and a registered investment adviser.

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