[February 15, 2012]

Apollo Senior Floating Rate Fund Inc. Declares March 2012 Monthly Distribution of $0.105 Per Share

Apollo Senior Floating Rate Fund Inc. (the "Fund") (NYSE: AFT) today announced the declaration of its distribution for the month of March, 2012 of $0.105 per common share, payable on the date noted below.

The following dates apply to the declared distribution:

Ex-Date: March 16, 2012
Record Date: March 20, 2012
Payment Date: March 30, 2012
Per Share Amount: $0.105

Forward-Looking Statements
This press release may contain statements that are forward looking, as that term is defined by the Private Securities Litigation Reform Act of 1995 or by the Seurities and Exchange Commission in its rules, regulations and releases. These statements include, but are not limited to, discussions related to the Fund's expectations regarding the performance of its business, its liquidity and capital resources and the other non-historical statements in the discussion and analysis. These forward-looking statements are based on management's beliefs, as well as assumptions made by, and information currently available to, management. When used in this release, the words "believe," "anticipate," "estimate," "expect," "intend" and similar expressions are intended to identify forward-looking statements. Although management believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will prove to have been correct. These statements are subject to certain risks, uncertainties and assumptions, including risks relating to the Fund's dependence on certain key personnel, market conditions generally, changes in the regulatory environment, the variability of Fund revenue, net income and cash flow, the Fund's use of leverage and other risks.

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