MVC Capital, Inc.
Nov 19, 2009

MVC Capital Announces Sale of Vitality Foodservice, Inc. to Nestlé Professional

PURCHASE, N.Y., Nov 19, 2009 (BUSINESS WIRE) -- MVC Capital, Inc. (NYSE: MVC) (the "Fund"), a publicly traded business development company that makes private debt and equity investments, today announced that the North American division of Vitality Foodservice, Inc., ("Vitality"), an MVC portfolio company, has signed a definitive agreement to be acquired for cash by Nestlé Professional, ("Nestlé"), a globally managed business dedicated to the out of home food and beverage market. The acquisition is expected to close shortly after receiving various regulatory approvals and the satisfaction of other customary closing conditions and contingencies. The acquisition price has not been publicly disclosed. Vitality's European operations, a small portion of Vitality, will not be sold as part of this transaction.

The anticipated gross proceeds to the Fund resulting from this transaction (excluding the value of the escrow and European operations) are expected to approximate the Fund's current carrying value for its entire investment in Vitality. The value of the escrow and Vitality's European operations will be determined at the time of closing.

"I also note that, at the time the definitive offer was received, the value was in excess of our then reflected carrying value for Vitality," said Michael Tokarz, Chairman & Portfolio Manager of MVC Capital. "The Valuation Committee has since increased the carrying value to reflect anticipated proceeds from the transaction."

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About MVC Capital, Inc.

MVC is a business development company traded on the New York Stock Exchange that provides long-term debt and equity investment capital to fund growth, acquisitions and recapitalizations of companies in a variety of industries. For additional information about MVC, please visit the MVC's website at www.mvccapital.com. All media inquiries should be directed to Nathaniel Garnick at 212-687-8080.

About Vitality Foodservice, Inc.

Vitality Foodservice, Inc., headquartered in Tampa, Florida, is a leading provider of beverage solutions to the foodservice industry worldwide. What sets Vitality apart is its ability to provide foodservice operators with complete beverage programs including innovative dispensing equipment, a wide assortment of beverages, beverage sales experts, and a dedicated service network. Foodservice operators have counted on Vitality to help them serve top quality beverages including juices, teas, coffees, cocktail and smoothie mixes, innovative specialty drinks and much more. Vitality's broad and diverse base of foodservice customers covers many segments including restaurants, lodging, cruise lines, healthcare, military, education, business and industry, and gaming. With thousands of Vitality dispensers in use worldwide, millions of consumers enjoy Vitality beverages everyday.

Forward-Looking Statements

The information contained in this press release contains forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. Certain factors could cause actual results and conditions to differ materially from those projected in these forward-looking statements, and these factors are enumerated in the company's periodic filings with the Securities and Exchange Commission.

SOURCE: MVC Capital, Inc.

MVC Capital, Inc.
Nathaniel Garnick, 212-687-8080

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