Gladstone Investment

Officers and Directors

GLADSTONE INVESTMENT CORPORATION (NASDAQ - GAIN)

Vice Chairman and Chief Investment Officer

George "Chip" Stelljes III

Mr. Stelljes joined the Gladstone Companies in October 2002. He currently serves as Vice Chairman and Chief Investment Officer of Gladstone Investment Corporation and President of the Advisor in our McLean, VA headquarters. From 1999 to 2001, Mr. Stelljes was a Managing member of Camden Partners and Cahill Warnock & Company, private equity firms which finance public growth companies in the education, healthcare and business services sectors. From 1997 to 1999, Mr. Stelljes was a Managing Director and Partner of Columbia Capital, a venture capital firm focused on investments in communications and information technology. From 1989 to 1997, Mr. Stelljes held various positions including Executive Vice President and Principal with Allied Capital Corporation and its affiliates, where he served on its Investment Committee. Mr. Stelljes currently serves as a General Partner and Investment Committee member of Patriot Capital, a private equity fund, and he is a member of the board of directors of Intrepid Capital, an investment firm. He is a former Board member and Regional President of the National Association of Small Business Investment Companies. Mr. Stelljes holds an MBA degree from the University of Virginia and a BA from Vanderbilt University.