Carlyle Capital Corporation Intends to File for Compulsory Winding up in Guernsey

March 16, 2008


Carlyle Capital Corporation Intends to File for Compulsory Winding up in Guernsey
NEW YORK--(BUSINESS WIRE)

Carlyle Capital Corporation Limited (Euronext Amsterdam ticker symbol: CCC; ISIN: GG00B1VYV826) (the Company), today announced that its Board of Directors recommended that Class A Shareholders vote in favor of a compulsory winding up proceeding under the Companies Law in Guernsey. The shareholder approval process was completed on March 16, 2008, with Class A Shareholders voting unanimously in favor of a compulsory winding up proceeding under the Companies Law in Guernsey.

The Company will now move forward with the winding up and liquidation application. During a compulsory winding up, all remaining CCC assets will be liquidated by a court appointed liquidator in a timely and orderly manner.

As expected, the Company received default notices from its remaining two lenders and it believes that its lenders have now taken possession of substantially all of its U.S. government agency AAA-rated residential mortgage-backed securities (RMBS). As a result, the Company believes its liabilities exceed its assets.

The recommendation was made by the Board following extensive analysis of the Company’s prospects and careful consideration of other options for continuing the business. The Company will work with the court appointed liquidator to ensure an orderly realization of assets and their subsequent distribution.

The Company will provide updates as appropriate.

For any additional information please visit the Company’s website at www.carlylecapitalcorp.com.

About Carlyle Capital Corporation

The Company is a Guernsey investment company that was formed on August 29, 2006 and completed its initial offering in July 2007. Carlyle Investment Management L.L.C. (“CIM”) manages the Company pursuant to a management agreement. CIM is a registered investment adviser under the U.S. Investment Advisers Act of 1940 and is an affiliate of The Carlyle Group.

Contacts
Carlyle Capital Corporation Limited
Rowland Hunt, +1 (212) 813-4707