PSEC – A Prospect Capital Fund

William J. Gremp Joins Prospect Energy Corporation’s Board of Directors

July 20, 2006

NEW YORK, NY – (MARKET WIRE) – 07/20/06 – Prospect Energy Corporation
(NASDAQ: PSEC) (“Prospect”) announced today that William J. Gremp has
joined Prospect’s Board of Directors. “We are delighted to have
recruited Bill Gremp to ou…