Market Overview

Blackstone / GSO Senior Floating Rate Term Fund Update on Potential Rights Offering

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In January 2018, Blackstone / GSO Senior Floating Rate Term Fund (NYSE: BSL) (the "Fund") filed a registration statement with the Securities and
Exchange Commission ("SEC") relating to the offering of additional
common shares of the Fund pursuant to a transferable rights offering
(the "Rights Offering"). The Fund is continuing to evaluate the
possibility of pursuing the Rights Offering.

If the Fund determines to pursue the Rights Offering, the final terms of
the Rights Offering are subject to approval by the Fund's Board of
Trustees (the "Board"). There is no assurance that the Fund will proceed
with the Rights Offering or that the Board will approve the final terms
of the Rights Offering.

The Rights Offering, if made, will be made only by means of a
prospectus. A Registration Statement relating to the securities has been
filed with the SEC but has not yet been declared effective by the SEC.
These securities may not be sold nor may offers to purchase be accepted
prior to the time the Registration Statement becomes effective with the
SEC. The information in the Registration Statement is not complete and
may be changed.

This press release shall not constitute an offer to sell or constitute a
solicitation of an offer to buy any securities of the Fund. Investors
should read the prospectus, when available, and consider the investment
objective, risks, fees and expenses of the Fund carefully before
investing. The prospectus will contain this and additional information
about the Fund. If the Fund proceeds with the Rights Offering, a copy of
the prospectus will be available on EDGAR at www.sec.gov
and from your financial adviser.

The Fund

The Fund's primary investment objective is to seek high current income,
with a secondary objective to seek preservation of capital, consistent
with its primary goal of high current income. The Fund had approximately
$269 million of total net assets and 15.26 million common shares
outstanding as of June 30, 2018.

About The Blackstone Group L.P. and GSO Capital Partners LP

The Blackstone Group L.P. ("Blackstone") is one of the world's leading
investment firms. Blackstone seeks to create positive economic impact
and long-term value for its investors, the companies it invests in, and
the communities in which it works. The firm does this by using
extraordinary people and flexible capital to help companies solve
problems. Blackstone's asset management businesses, with approximately
$440 billion in assets under management as of June 30, 2018, include
investment vehicles focused on private equity, real estate, hedge fund
solutions, non-investment grade credit, secondary private equity funds
of funds and multi-asset class strategies. Blackstone also provides
capital markets services. Further information is available at www.blackstone.com.
Follow Blackstone on Twitter @Blackstone.

GSO Capital Partners LP ("GSO") is part of the global credit investment
platform of Blackstone. GSO is one of the largest alternative managers
in the world focused on the leveraged-finance, or non-investment grade
related, marketplace. GSO seeks to generate attractive risk-adjusted
returns in its business by investing in a broad array of strategies
including mezzanine debt, distressed investing, leveraged loans and
other special-situation strategies. Its funds are major providers of
credit for small and middle-market companies, and it also advances
rescue financing to help distressed companies. Overall, Blackstone's
credit platform, which also includes Blackstone Insurance Solutions and
Harvest Fund Advisors LLC's energy MLP business, has assets under
management of over $120 billion, as of June 30, 2018.

Investors wishing to buy or sell shares need to place orders through an
intermediary or broker.

Contact the Fund at 1-877-299-1588 or visit the Fund's website at www.blackstone-gso.com
for additional information.

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