Directorate Change

31 December 2018

Alcentra European Floating Rate Income Fund Limited ("the Company")

Director Change

The Company announces that in accordance with its succession plan, Jon Bridel, a non-executive director of the Company and Chair of the Audit Committee, has given notice that he will be stepping down from his role on the board of directors of the Company with effect from 30 June 2019.

Trudi Clark will become the Chair of the Audit Committee with effect from 30 June 2019.

Ian Fitzgerald, Chairman of the Company, said "I would like to thank Jon very much indeed for his contribution to the board and the running of the Company. Jon has been with us since the original IPO and has been a valuable, experienced and positive team member throughout the life of the Company, not only as Audit Chair but in all areas of the Company's business.

We shall miss him when he steps down and we wish him all the very best for the future".

Enquiries:

BNP Paribas Securities Services S.C.A., Guernsey Branch:

Siobhan Lavery +44 1534 709181