Market Overview

Month-End Portfolio Data Now Available for Ares Dynamic Credit Allocation Fund, Inc.

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Ares Capital Management II LLC today announced that monthly fund
composition and performance data for Ares Dynamic Credit Allocation
Fund, Inc. (NYSE:ARDC) as of June 30, 2018 is now available via www.arespublicfunds.com.

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

About Ares Management, L.P.
Ares Management, L.P. (NYSE: ARES) is a leading global alternative asset manager with approximately
$112 billion1 of assets under management and more than 15
offices in the United States, Europe and Asia as of March 31, 2018.
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
three distinct but complementary investment groups in Credit, 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.

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
investment objective, risks, charges and expenses of ARDC carefully
before investing.

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

1 As of March 31, 2018, AUM amounts include 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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