According to Standard & Poor’s, the ratings were upgraded based on the company’s improved financial performance. For the fourth quarter of 2009, Broadview Networks achieved an EBITDA margin of 17.9 percent versus 14.8 percent for the same period in 2008. The company also reported a gross profit of margin of 51.8 percent, up from 49.8 percent for the same period in 2008.

“S&P’s upgrade on our ratings reflects our success in meeting and exceeding our customers’ needs and our continued focus on expense and capital management,” said Mike Robinson, chief executive officer for Broadview Networks. “As the economy recovers, we expect that momentum to continue.”

Standard & Poor’s report noted that Broadview Networks has achieved net free cash flow positive results after capital expenditures and is likely to be net free cash flow neutral to positive for 2010, making the outlook for the company stable.

Standard & Poor’s credit analyst Catherine Cosentino said, “The upgrade reflects the company’s progress in achieving improved financial results in 2009, despite a difficult economy and its effect on business telecom spending.”

About Broadview Networks www.broadviewnet.com

Broadview Networks is a network-based business communications provider serving customers nationwide. Broadview provides the total solution for business communications including local and long distance voice communications; premises-based and patented hosted VoIP systems; data services encompassing VPN- and MPLS-enabled applications; traditional telephone hardware; high-speed Internet services; a full suite of managed services; and a range of professional services. Broadview customers benefit from award-winning customer service including a web-based account management tool and a primary point-of-contact for real-time, personal customer care.

Broadview Networks is a control investment of MCG Capital Corporation (NASDAQ: MCGC). Broadview Networks’ largest investors are MCG Capital, Baker Capital, and New Enterprise Associates.

Forward Looking Statement

This press release contains forward-looking statements describing future plans and objectives. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, and other factors, some of which are beyond our control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. Although we believe that the assumptions on which these forward-looking statements are based are reasonable, any of those assumptions could prove to be inaccurate, and as a result, the forward-looking statements based on those assumptions also could be incorrect. In light of these and other uncertainties, the inclusion of a projection or forward-looking statement in this press release should not be regarded as a representation by us that our plans and objectives will be achieved. You should not place undue reliance on these forward-looking statements, which apply only as of the date of this press release. We undertake no obligation to update such statements to reflect subsequent.