CORRECTING and REPLACING Gladstone Investment Announces Third Quarter Earnings Release and Conference Call Dates

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MCLEAN, Va.--(BUSINESS WIRE)--

Headline of release (dated January 25, 2007) should read: Gladstone Investment Announces Third Quarter Earnings Release and Conference Call Dates (sted: Gladstone Investment Announces Second Quarter Earnings Release and Conference Call Dates).

Corrected release reads:

GLADSTONE INVESTMENT ANNOUNCES THIRD QUARTER EARNINGS RELEASE AND CONFERENCE CALL DATES

Gladstone Investment Corp. (NASDAQ:GAIN) (the "Company") announced today that the Company plans to report earnings after the market closes on Monday, February 5, 2007 for the third quarter ending December 31, 2006. The Company will hold a conference call Tuesday, February 6, 2007 at 8:30 am EST to discuss its third quarter earnings. Please call (877) 407-8031 to enter the conference. An operator will monitor the call and set a queue for the questions.

A replay of the conference call will be available through March 6, 2007. To hear the replay, please dial (877) 660-6853, access playback account 286 and use ID code 229412. The online replay will be available approximately two hours after the call concludes.

The live audio broadcast of Gladstone Investment's quarterly conference call will be available online at www.GladstoneInvestment.com and www.investorcalendar.com.

Gladstone Investment Corporation is an investment company that seeks to make debt and equity investments in small and mid-sized private businesses in the U.S. in connection with acquisitions, changes in control and recapitalizations. For more information please visit our website at www.GladstoneInvestment.com

For further information contact our Investor Relations at 703-287-5835.

This press release may include statements that may constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements with regard to the future performance of the Company. Words such as "believes," "expects," "anticipates," "estimated," "plans," "projects" and "future" or similar expressions are intended to identify forward-looking statements. These forward-looking statements inherently involve certain risks and uncertainties, although they are based on the Company's current plans that are believed to be reasonable as of the date of this press release. Factors that may cause the Company's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements include, among others, those factors listed under the caption "Risk factors" of the Company's Form 10-K dated March 31, 2006, as filed with the Securities and Exchange Commission on June 14, 2006, and in the Company's registration statement on Form N-2, as amended, as filed with the Securities and Exchange Commission on December 22, 2006. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Source: Gladstone Investment Corporation

Released January 25, 2007