Gladstone Investment Corp.

David A.R. Dullum has been our President, Secretary and a director since our inception. Mr. Dullum has more than 30 years of professional investment experience and is a principal and general partner of New England Partners, a private equity firm based in Boston. As a principal and managing general partner at New England Partners, Mr. Dullum has been responsible with other managing general partners for overseeing the raising of pools of capital and for identifying and structuring investments in and acquisitions of operating companies. From 1976-1990, he was a Managing General Partner of the Chicago-based private equity firm Frontenac Company. During his 14 year tenure at Frontenac, he was instrumental in increasing funds under management from $3 million to over $250 million. As a managing general partner at Frontenac, Mr. Dullum was also responsible with other managing general partners for overseeing the raising of pools of capital and identifying and structuring investments in and acquisitions of operating companies. Mr. Dullum serves as a director of Simkar Corporation, a manufacturer of industrial and consumer lighting products and Fetco Home Decor, Inc., a designer and manufacturer of home decor products. He also serves as a director of three publicly traded companies: Gladstone Capital Corp. (NASDAQ:GLAD); Gladstone Commercial Corp. (NASDAQ:GOOD); and Gladstone Investment Corp. (NASDAQ:GAIN) and is the Audit Committee Chair for GLAD and GAIN. He has lectured on venture capital at the J. L. Kellogg Graduate School of Management, Northwestern University, and was a member of the Board of Trustees of the Stanford Graduate School of Business Trust and former Chairman of the National Association of Small Business Investment Companies. Mr. Dullum holds a B.M.E. from Georgia Institute of Technology and an M.B.A. from Stanford Graduate Business School.

Ms. Williams joined Gladstone in June 2005 and served as our Chief Compliance Officer from April 2006 through August 2007. Ms. Williams currently serves as our Internal Counsel. Prior to joining Gladstone, Ms. Williams served as a business associate with Cooley Godward LLP of Reston, Virginia, and as a corporate and securities associate with Bass, Berry and Sims PLC of Memphis, Tennessee. Ms. Williams is a member of the bars of the Commonwealth of Virginia and the States of Arkansas and Tennessee . She holds a JD from the University of Arkansas School of Law and a BA from Rhodes College .

Mr. Perrigo joined our firm in February 2008 and was appointed to serve as the Chief Financial Officer over Gladstone Investment Corporation. From May 2006 to January 2008, Mr. Perrigo served as Vice President of Finance for Simplicity, Inc. (formerly In Phonic, Inc.). Prior to that, Mr. Perrigo held various positions, including that of Audit Senior Manager, with Ernst & Young, LLP from January 1999 to April 2006. Mr. Perrigo is CPA in the State of Maryland and received a B.S. degree in accounting from George Mason University .

Mr. Cooper has been a Managing Director or Principal since June 2001. From 1986 to 2000, Mr. Cooper served as a Senior Vice President or Principal of Allied Capital Corporation and its affiliate funds. At Allied Capital, Mr. Cooper was responsible for identifying, sourcing, underwriting, managing, financing and servicing all forms of commercial real estate. During his time at Allied Capital, Mr. Cooper also administered an investment portfolio of over $250 million. Mr. Cooper holds a BA from Washington and Lee University.

"Mr. Massey has been a Managing Director since May 2004. Prior to joining Gladstone, Mr. Massey was Vice President of Asset Management with Kennedy Associates Real Estate Counsel, a $6 billion pension fund advisor. Mr. Massey’s responsibilities included asset management of approximately $450 million of Class A office and industrial properties with over 200 tenants located throughout the eastern half of the United States. Formerly, Mr. Massey was President of a broadcast tower acquisitions company focused in US and Latin America. Prior, he was the Director of Business Development for two domestic & international cellular tower & in-building network companies. Previously, Mr. Massey held acquisitions and asset management roles with other commercial real estate firms. Mr. Massey's responsibilities included coordination and evaluation of more than 40 nonperforming loan and REO portfolios, in addition to underwriting several hundred debt and equity investments valued at nearly $4 billion. Further, Mr. Massey was directly responsible for a portfolio of nonperforming loans and REO properties valued at approximately $100 million. Mr. Massey began his career in consumer banking, where he was responsible for daily operations at a 3,000-member credit union. He received his undergraduate degree from Virginia Polytechnic Institute and State University."

Ms. Simpson joined the firm as a Managing Director in early 2007. Prior to joining Gladstone , Ms. Simpson worked for Morgenthaler Partners arranging debt financing for their leveraged buyouts. From 1999 to 2006, Ms. Simpson worked for National City Bank, most recently as Senior Vice President in Credit Administration, as well as a relationship manager for closely held and equity sponsor-owned middle market companies. Ms. Simpson served on active duty for four years as a lieutenant in the U.S. Army. She holds a BS in Economics from University of Pennsylvania and an MBA from Case Western Reserve University .

Mr. Sateri joined the firm as a Managing Director in April 2007. Prior to joining Gladstone , Mr. Sateri directed an independent consultancy providing distressed debt valuation, CMBS securitization and loans sale advisory services to institutional investors, national advisory firms and government clients. From 1989 to 1998, Mr. Sateri worked for Wachovia Bank (predecessor/affiliated companies) in a variety of areas including corporate development, operations, credit risk management, special assets, commercial lending, and lastly capital markets where he served as Vice President and Senior Portfolio Manger overseeing a team responsible for underwriting, servicing and managing an asset based loan portfolio with half a billion dollars in commitments to highly leveraged, growth oriented, middle market companies. He holds a bachelor’s degree in Business Administration from The University of Hawaii at Manoa and is a member of the Risk Management Association.

Mr. Freal joined the firm in February 2002 from American Capital Strategies, where he was a Managing Director. From 1995 through 1997 he was a private investor and financial consultant. From 1989 to 1995, Mr. Freal was President of RDS Capital Partners, a private merchant banking company that he co-founded to acquire middle-market commercial and industrial companies. Prior to founding RDS, he was employed by several Washington D.C. area and Philadelphia banks as a Loan Officer providing general corporate and buyout financing to middle-market and national companies. Mr. Freal received both undergraduate and graduate degrees in Business from George Mason University.

Michael Brown joined Gladstone Investment Corporation in October 2005 as Managing Director and opened a Dallas office. Mr. Brown has over 23 years of principal mezzanine and senior equity investing and portfolio management experience to middle market manufacturing, distribution and business service companies located throughout the United States. Immediately prior to joining Gladstone, Mr. Brown was Co-founder and Managing Partner of Stratford Capital Partners, LP and Stratford Equity Partners, LP, a Dallas-based $130 million mezzanine and senior equity investment fund affiliated with Hicks, Muse, Tate & Furst and other large institutional limited partners. Prior to Stratford, Mr. Brown was a Partner with The Sunwestern Investment Group, a Dallas-based private equity fund. Mr. Brown received a Bachelors of Business Administration in Finance from the University of Georgia and a Masters of Business Administration from the University of Texas at Austin.

Ms. Rollins has been a Managing Director or Principal since June 2001. 1998 to 2001, Ms. Rollins served as Vice President and Principal of American Capital Strategies where she was responsible for marketing, originations, underwriting and portfolio management for the Bethesda, Maryland office. From 1993 to 1997, Ms. Rollins served as Managing Director and Deputy Managing Director of Bulgarian American Enterprise Fund, a private investment firm which focuses on making loans to and investments in Bulgaria. Ms. Rollins holds a Masters of International Management with Honors from the American Graduate School of International Management and graduated Phi Beta Kappa with a BA from the University of North Carolina, Chapel Hill.

Ms. Keene has been our Portfolio Management Coordinator since September 2002. Her background includes diverse experience in business management and sales most recently with Xerox Corporations and she co-founded and managed Virginia's 41st winery. She holds a Master's Degree from George Washington University.

Ms. Jones joined our firm in July 2004. Prior to joining Gladstone, Ms. Jones served as a Corporate Accountant for AvalonBay Communities, Inc. Ms. Jones has also worked for American Express Tax & Business Services. Ms. Jones is a CPA with the State of Virginia and holds a BBA from James Madison University.

Ms. Novara has been Head of Resource Management since April 2004. Ms. Novara served as Assistant Vice President of Human Resources with the WMF Group and as a Consultant to Prudential Financial. From 1996 to 1997, Ms. Novara worked for TREEV a publicly held imaging software vendor. From 1992 to 1996, Ms. Novara worked for Environmental Products Corporation in their corporate Human Resources department. Ms. Novara is certified through SHRM as a PHR, holds an MA from Marymount University in Human Resources Management and a BA in Spanish and French from St. Mary’s College of Notre Dame.

Mr. Gerson joined our firm in February 2006 as Treasurer. From 2004 to early 2006 Mr. Gerson was Assistant Vice President of Finance at the Bozzuto Group, a real estate developer, manager and owner, where he was responsible for financing over $350 million of multi-family and for-sale residential projects. From 1995 to 2004 he held various finance positions, including Director, Finance from 2000 to 2004, at PG&E National Energy Group where he led, and assisted in, the financing of over $3.5 billion in power generation assets. Prior to PG&E, from 1993 to 1995 he was a business consultant at American Management Systems. From 1986 to 1991 Mr. Gerson served on submarines in the U.S. Navy. Mr. Gerson holds an MBA from the Yale School of Management, a B.S. in mechanical engineering from the U.S. Naval Academy, and is a CFA charter holder.

Mr. Mead was appointed as a Director of the Company in 2005. Mr. Mead is Chairman of Gerard Mead Capital Management which he founded in 2003, a firm which provides investment management services to pension funds, endowments, insurance companies and high net worth individuals. From 1966 to 2003, Mr. Mead was employed by the Bethlehem Steel Corporation where he held a series of engineering, corporate finance and investment positions with increasing management responsibility. From 1987 to 2003 Mr. Mead served as Chairman and Pension Fund Manager of the Pension Trust of Bethlehem Steel Corporation and Subsidiary Companies. From 1972 to 1987 he served successively as Investment Analyst, Director of Investment Research, and Trustee of the Pension Trust, during which time he was also a Corporate Finance Analyst and Investor Relations Contact for Institutional Investors of Bethlehem Steel. Prior to that time Mr. Mead was a steel plant engineer. Mr. Mead holds a MBA degree from Harvard Business School and a BSCE from Lehigh University.

John H. Outland has extensive experience in structured mortgage finance, having worked with commercial and residential mortgage portfolios and securities for 22 years. With his experience as an investment banker, MBS issuer and credit enhancement provider, Mr. Outland brings the perspectives of these participants in MBS transactions to the firm. Prior to joining 1789 Capital Advisors, Mr. Outland was a Vice President of Mortgage -Backed Securities at Financial Guaranty Insurance Company where he was responsible for sourcing, negotiating and closing the MBS transactions in which Financial Guaranty was the guarantor. These transactions totaled $1.5 billion and included both prime and subprime residential mortgages. Prior to joining Financial Guaranty, Mr. Outland was Senior Vice President of Citicorp Mortgage Securities where he was responsible for the securitization of Citicorp non-conforming mortgage loan originations. Mr. Outland managed 33 transactions totaling $6.8 billion, and he was responsible for the creating the mortgage pools, negotiating credit enhancement levels, managing auctions and price negotiations, and closing the transactions. Prior to joining Citicorp, Mr. Outland was Vice President - Real Estate and Mortgage Finance at Nomura Securities International where he managed Nomura's portfolio of investments in Resolution Trust Corporation assets. Mr. Outland participated in the bidding for RTC assets and negotiated the financing of commercial mortgages in preparation for securitization. Prior to joining Nomura, Mr. Outland was Vice President - Mortgage Finance at Goldman Sachs where he developed and maintained mortgage and corporate finance relationships with major financial institutions. Mr. Outland managed 28 financing transactions, including mortgage-backed and mortgage pass-through securities as well as corporate equity and debt issues. Mr. Outland holds a B.A. in Chemical Engineering from Georgia Institute of Technology and an MBA from Harvard Business School.

Mr. Coulon has served as a Director since August 2003. Since 2000, Mr. Coulon has been a private investor in real estate. From 1991 through his retirement in 2000, Mr. Coulon served as Director of Portfolio Management for the Morgan Stanley Real Estate Fund. From 1980-1991, Mr. Coulon served as Senior Vice President of asset management for Boston Company Real Estate Council, Inc. Mr. Coulon was a founder of the National Association of Real Estate Investment Managers and is a past President of the National Association of Real Estate Investment Fiduciaries. Mr. Coulon holds a MBA from Harvard University.

Ms. English has been a Director since June 5, 2002. Until March 31, 2004, English held the positions of President, Discovery Enterprises Worldwide, and President, Discovery.com, launching and rapidly developing new initiatives that build upon and enhance Discovery's television brands and consumer relationships. Ms. English is an experienced executive with a wide-ranging background in marketing, corporate planning and business development. She most recently served as Senior Vice President of the National Geographic Society, where she was responsible for marketing, book publishing, Traveler magazine, World magazine for children, educational media and international publishing. English spearheaded the 1995 launch of National Geographic magazine in the Japanese language, the publication's first-ever non-English edition. She had previously served as Vice President of Marketing, directing product development and marketing activities for Society membership, books, videos, magazines and other educational products. She was a member of the Society's Board of Trustees and Education Foundation Board. Prior to her tenure at the National Geographic Society, English served as a Consultant for such clients as Marriott Corporation and MCI. She had also been Vice President, corporate planning and business development for Marriott Corporation. Prior to Marriott, English worked as Senior Engagement Manager for the international consulting firm McKinsey & Company, helping top management in major media and diversified companies design and implement strategic plans, improvements in operations and organizational changes. Ms. English is active within the volunteer, nonprofit and corporate communities. She has served as Director of Riggs National Corporation in Washington, DC; Director of Windsor Pet Care, Inc. of Hasbrouk Heights, NJ; Trustee of the Supreme Court Historical Society in Washington, DC; a member of the Yale School of Management Advisory Board in New Haven, CT; and a Director of the Potomac KnowledgeWay. She currently serves as a Director of the NEA Foundation for the Improvement of Education, the Educational Testing Service (ETS), and as Chairman of the Board of Sweet Briar College. English received a Bachelor of Arts in International Affairs at Sweet Briar College and a Master of Public and Private Management degree from Yale University's School of Management.

Mr. Adelgren has been a Director since December 2002. From 1997 to the present, Mr. Adelgren has been Pastor for the Missionary Alliance Church. From 1991 to 1997 he was Pastor of New Life Alliance Church. From 1988 to 1991, Mr. Adelgren was a Vice President of Finance for Williams & Watts, Inc. in Fairfield NJ, a logistics management and procurement business. From 1965 to 1988, Mr. Adelgren served in the United States Navy. During his career in the Navy, he served in eight different commands and ships. His last three were as the Director of the Strategic Submarine Support Department, Executive Officer at the Naval Supply Center and as the Director of the Joint Uniform Military Pay System at the Navy Finance Center. Paul Adelgren received numerous awards and medals during his distinguished career in the Navy and he retired as a Captain in the USN to pursue his business career. In 1965, Mr. Adelgren received a Bachelor of Arts degree from the University of Kansas. He attended the Navy Supply Corps School in Athens, GA. In 1972, at Harvard Business School, he received a Masters in Business Administration (with honors) in Data Processing Management and Operations Research.