CapitalSource Inc. (CSE)

BUSINESS SUMMARY

CapitalSource is a leading commercial lending, investment and asset management business focused on the middle market operating through three focused lending businesses: Structured Finance, Healthcare and Specialty Finance and Corporate Finance. Headquartered in Chevy Chase, MD, CapitalSource has a national network of offices in cities including Atlanta, Boston, Buffalo, Chicago, Dallas, Los Angeles, Nashville, New York, Philadelphia, St. Louis and San Francisco.CapitalSource was founded in 2000 in response to a change in the banking industry that created the opportunity for a large-scale commercial finance company. Given the consolidation and significant growth of banks, it recognized that they would increasingly view high-touch, middle market finance as less strategic. Based on their experience, that they had the blueprint for a better lending model. That model emphasizes speed and execution, deep industry or sector expertise, unforgiving credit standards that incorporate a dual-track underwriting approach and a full embrace of technology.

Calamos Convertible Opportunities Income Fund (CHI)

BUSINESS SUMMARY
Calamos Convertible Opportunities:Income Fund is a closed-ended fund managed by Calamos Advisors LLC. It seeks to make its investments in the consumer discretionary, financial, energy, consumer staples, information technology, industrials, materials, healthcare, utilities, and telecommunication services industries. The fund invests in the public fixed income markets of the United States. It primarily invests in high yield fixed income securities and convertible securities that are either investment grade, BB rated, rated B and below, or unrated. The fund employs a fundamental analysis to invest in value securities. It seeks total return through a combination of capital appreciation and current income.

With a time-tested track record of high current income and total return—with reduced volatility compared to the stock market1—Calamos Market Neutral Income Fund may be a compelling choice for a wide range of asset allocation needs.

In particular, the fund may be a valuable addition for investors seeking:

* High current income. The investment management team uses complementary strategies to generate income from multiple sources. Accordingly, the fund may be a compelling alternative—or complement—to traditional fixed-income investments.
* A conservative total return strategy. Since its inception, the fund has delivered returns comparable to the stock market, but with reduced volatility.
* Enhanced diversification. With historically low correlation relative to other asset classes, the fund may help mitigate the overall volatility of an investment portfolio.
* Access to investment strategies not widely available to individual investors. The fund provides a blend of strategies not broadly available to individual investors.

American Capital Strategies, Ltd. (ACAS)

BUSINESS SUMMMARY
American Capital is the second largest U.S. publicly traded alternative asset manager with approximately $11 billion in assets under management (second to Fortress (NYSE: FIG)). American Capital, both directly and through its global asset management business, is an investor in management and employee buyouts, private equity buyouts, and early stage and mature private and public companies. American Capital provides senior debt, mezzanine debt and equity to fund growth, acquisitions, recapitalizations and securitizations. American Capital and its affiliates invest from $5 million to $800 million per company in North America and €5 million to €400 million per company in Europe.

Since its August 1997 IPO, American Capital and the funds it manages have invested approximately $13 billion in over 250 portfolio companies. The portfolio includes services, transportation, construction, wholesale, retail, health care and industrial, consumer, chemical and food products. It have 200 investment professionals in ten offices in the United States and Europe.

Investment Value -Offer shareholders an opportunity to invest in privately held middle market companies through ownership of our stock. American Capital has paid or declared $23.33 per share in dividends since going public in 1997, and has provided a 22.3% annualized return and a 591.6% total return over that time, assuming dividends are reinvested.

Ares Capital Corporation (ARCC)

BUSINESS SUMMARY
Ares Capital Corporation operates as a closed-end, nondiversified management investment company in the United States. It primarily invests first and second lien senior loans, long-term mezzanine debt, and equity investments. The company?s investment portfolio include investment in companies operating in various industries, comprising health care, containers/packaging other services, consumer products, environmental services, restaurants, manufacturing, education, financial, printing/publishing, aerospace and defense, cargo transport, farming and agriculture, homebuilding, and broadcasting/cable. Ares capital Management LLC serves as the investment advisor to the company. Ares Capital Corporation was founded in 2004 and is headquartered in New York City.

Target Investments

We focus primarily on transactions involving private middle market companies with EBITDA of $5 to $50 million. Our target investment or final hold in any one company generally ranges from $10 to $50 million although the investment sizes may be more or less than the targeted range and are expected to grow with our capital availability. Capital is deployed opportunistically and creatively in structures which generate the most attractive total risk-adjusted returns.

We are long term investors by nature and have experience owning significant, illiquid positions in private companies. As such, we typically seek to invest in North American-based companies with a history of stable cash flows, demonstrated competitive advantages and experienced management teams. In addition, we are strongly oriented to companies with identifiable growth prospects that can generate significant free cash flow. Sectors that we consider to be highly attractive include basic and growth manufacturing, business services, consumer products, health care products and services, and information technology services. We will also consider more challenging or cyclical industries such as restaurants, retail, oil and gas, and technology - however, we tend to be more cautious pursuing investments in these sectors.


Dividends ARES CAPITAL CORPORATION (NASDAQ - ARCC)

Common Equity (NASDAQ - ARCC)
Description:
Common stock, $0.001 par value
LTM Dividend Payout Ratio (%): 101.86
Current Dividend Yield (%): NA

Ex-Dividend Date Record Date Declaration Date Pay Date Amount Type
3/15/2007 3/19/2007 3/8/2007 3/30/2007 $0.4100 Quarterly
12/13/2006 12/15/2006 11/7/2006 12/29/2006 $0.1000 Special
12/13/2006 12/15/2006 11/7/2006 12/29/2006 $0.4000 Quarterly
9/13/2006 9/15/2006 8/9/2006 9/29/2006 $0.4000 Quarterly
6/13/2006 6/15/2006 5/8/2006 6/30/2006 $0.3800 Quarterly
3/22/2006 3/24/2006 2/28/2006 4/14/2006 $0.3600 Quarterly
12/20/2005 12/22/2005 12/12/2005 1/17/2006 $0.3400 Quarterly

Apollo Investment Corporation (AINV)

BUSINESS SUMMARY
Apollo Investment Corporation (AIC) is a public investment firm specializing in mezzanine and senior secured loans to middle-market companies. The firm offers multiple layers of the capital structure including: second lien debt, subordinated debt, holding company PIK, debt preferred or convertible, equity common equity, co-investments. AIC has an expertise in the following industries: business services, cable television, chemicals, consumer products, direct marketing, distribution, energy/utilities, financial services, healthcare, manufacturing, media, publishing, retail and transportation. The firm?s typical investment range is between $20 million to $150 million. The company was incorporated in 2004, and is based in New York City.



Portfolio Companies

Advantage Sales & Marketing
Sponsor: J.W. Childs / Merrill Lynch Global Private Equity
Leading sales and marketing agency in the U.S.

Alliance Mortgage Investments, Inc.
Sponsor: Airlie
Leading residential mortgage company

ALM Media Holdings, Inc.
Sponsor: Wasserstein & Co.
Publisher of legal periodicals

American Asphalt & Grading Co.
Sponsor: Code Hennessy & Simmons
Leading provider of residential infrastructure

American Safety Razor
Sponsor: Lion Capital
Manufacturer of razors / razorblades

Anthony International
Sponsor: Aurora Capital Group
Manufacturer of glass refrigerator and freezer doors

API Heat Transfer, Inc.
Sponsor: Audax Group
Manufacturer of heat-transfer equipment

Applied Systems, Inc.
Sponsor: Bain Capital
Leading provider of enterprise management software to the insurance distribution industry

Associated Materials
Sponsor: Investcorp/ Harvest Partners
Manufacturer / distributor of exterior residential building products

Audatex Holdings III, B.V.
Sponsor: GTCR Golder Rauner
Largest global provider of automotive claims processing solutions

BNY Convergex Group
Sponsor: GTCR Golder Rauner
Leading institutional agency-only broker and financial technology provider

Brenntag Holding GmbH
Sponsor: Bain Capital
Distributor of industrial and specialty chemicals

C.H.I. Overhead Doors, Inc.
Sponsor: JLL Partners
Manufacturer of garage doors

Clean Earth, Inc.
Sponsor: Littlejohn & Co.
Leading contaminated materials treatment services provider

Collect America, Ltd.
Sponsor: KRG Capital Partners
Accounts receivable management company

Cygnus Business Media
Sponsor: ABRY Partners
Business-to-business media company

Delta Educational Systems, Inc.
Sponsor: Gryphon Investors
For-profit postsecondary education school company

Diam International
Sponsor: Heritage Partners
Designs, manufactures and distributes merchandising systems

Dr. Leonard's Healthcare Corp.
Sponsor: Cortec Group
Leading direct mail marketer of home healthcare

DSI Renal, Inc.
Sponsor: Centre Partners
Kidney dialysis services

Deluxe Entertainment Services Group Inc.
Sponsor: MacAndrews & Forbes
Leading provider of film processing services to the motion picture industry

Eurofresh
Sponsor: Bruckmann, Rosser & Sherrill
Producer and marketer of greenhouse tomatoes

European Directories (fka YBR)
Sponsor: Macquarie Capital Alliance Group
Leading directories publishing business with operations in Europe

FCI International
Sponsor: Bain Capital
World's fourth largest connector manufacturer

Fleetpride Corporation
Sponsor: Investcorp
Largest independent distributor of aftermarket heavy duty truck and trailer parts

Garden Fresh Restaurant Holdings
Sponsor: Sun Capital Partners
Restaurant chain operator

GS Prysmian (aka Pirelli Cables)
Sponsor: Goldman Sachs Capital Partners
Manufacturer / distributor of cables for the energy and telecom industries

Hanley Wood, LLC
Sponsor: JPM Partners / Wasserstein & Co.
Leading B-2-B media company serving residential & commerical construction

Language Line
Sponsor: ABRY Partners
Provider of over-the-phone interpretation services

Latham International, Inc.
Sponsor: Brockway Moran & Partners
Manufacturer of swimming pool components & accessories

Lexicon Marketing
Sponsor: Quad-C / Golden Gate
Direct marketer and provider of educational multimedia courses

LVI Services, Inc.
Sponsor: Code Hennessy & Simmons
Largest provider of remediation, demolition, restoration & emergency response services

MEG Energy Corp.
Sponsor: Warburg Pincus
Developer / operator of an oil sands exploration and production project based in Canada

MW Industries, Inc..
Sponsor: Brockway Moran & Partners
Manufacturer and catalog distributor of engineered springs and specialty fasteners and related components

Natural Products Group, LLC
Sponsor: Harvest Partners
Direct marketer and manufacturer of branded personal care products

N.E.W. Customer Service Companies
Sponsor: Berkshire Partners LLC
Provider of extended service warranties

Nielsen Finance VNU
Sponsor: Consortium
Leading global information and media company

Oceania Cruises, Inc.
Sponsor: None
Operator of cruise ships in the upper premium segment of the cruise line industry

OTC Investors Corp.
Sponsor: The Carlyle Group
Leading direct marketer of party supplies, novelties, toys and children's arts and crafts

PBM Holdings, Inc.
Sponsor: None
Leading provider of private label infant formula

PlayPower Holdings, Inc.
Sponsor: Investcorp
Manufacturer of a wide range of recreational products

Pro Mach
Sponsor: Odyssey Investment Partners
Designer / manufacturer of packaging machinery

Quality Home Brands Holdings, LLC
Sponsor: Quad-C
Providers of decorative lighting fixtures to predominantly the residential market

Safety Products Holdings, LLC
Sponsor: Odyssey Investment Partners
Global provider of personal protection equipment

Serpering Investments, B.V. (Casema)
Sponsor: Cinven/Warburg Pincus
Cable television operator in the Netherlands

Sheridan Healthcare, Inc.
Sponsor: J.W. Childs
Leading provider of anesthesia and neonatology (intensive care for infants) physician outsourcing services to hospitals and ambulatory surgery centers in the U.S.

SigmaKalon
Sponsor: Bain Capital
Leading manufacturer and distributor of decorative coatings

Sorenson Communications Holdings
Sponsor: GTCR / Golder Rauner
Leading provider of video relay services

Summit Business Media
Sponsor: Wind Point Partners
Leading business-to-business media company

Tumi Holdings, Inc.
Sponsor: Doughty Hanson & Co.
Manufacturer of travel, business and personal accessories

TDS Logistics
Sponsor: Yucaipa
Provider of automotive logistics management

Varel International, Ltd.
Sponsor: KRG Capital Partners, LLC
Designer/manufacturer of drill bits for use in oil and gas exploration and production as well as in mining applications

WDAC Intermediate Corp.
Sponsor: Apax / Cinven
Leading publisher of yellow & white pages in Europe

YPSO France SAS / Altice France Est SAS (Numericable)
Sponsor: Cinven / Altice
Leading provider of analog and digital cable television, broadband internet and voice over internet protocol telephony services in France


Common Equity
NASDAQ - AINV
Description:
Common stock, $0.001 par value

Ex-Dividend Record Declared Payable Per Share Amount Type
03/20/07 03/22/07 03/06/07 03/29/07 $0.510 Regular Cash
12/19/06 12/21/06 12/06/06 12/28/06 $0.500 Regular Cash
09/19/06 09/21/06 09/07/06 09/28/06 $0.470 Regular Cash
06/20/06 06/22/06 06/09/06 06/29/06 $0.450 Regular Cash
03/10/06 03/14/06 03/03/06 03/30/06 $0.450 Regular Cash
12/20/05 12/22/05 12/12/05 12/29/05 $0.440 Regular Cash
09/20/05 09/22/05 09/12/05 09/29/05 $0.430 Regular Cash
06/21/05 06/23/05 06/16/05 06/30/05 $0.310 Regular Cash
03/22/05 03/24/05 03/14/05 03/30/05 $0.260 Regular Cash
12/21/04 12/23/04 12/14/04 12/30/04 $0.180 Regular Cash
09/21/04 09/23/04 09/10/04 09/30/04 $0.045 Regular Cash