Allied Capital Commercial Corp. declares extra dividend of 10 cents per share.

WASHINGTON--(BUSINESS WIRE)--Dec. 17, 1996--

Total annual distribution increases 11% to $1.98 per share

Allied Capital Commercial Corp. (Nasdaq:ALCC) Tuesday declared an extra dividend of 10 cents per share.

This is the fourth consecutive year that Allied Capital Commercial has declared an annual extra dividend. For 1996, including the regular quarterly dividend of 50 cents per share payable Dec. 31, 1996 and the extra dividend of 10 cents per share, the company will distribute a total of $1.98 per share.

The 1996 total annual distribution represents an 11% increase over the 1995 total annual distribution of $1.78 per share.

The annual extra dividend is payable as follows: -0-

             Amount:             10 cents per share
             Ex-dividend Date:   Dec. 24, 1996
             Record Date:        Dec. 27, 1996
             Payable Date:       Jan. 31, 1997

-0-

Allied Capital Commercial Corp. is a publicly traded commercial mortgage REIT. The company is headquartered in Washington, D.C. and traded on the Nasdaq National Market, symbol ALCC. There are a total of 14,201,722 shares outstanding. The company currently pays a regular quarterly cash dividend of 50 cents per share.

For 1996, the company will pay a total of $1.98 per share. For 1995, the company paid a total of $1.78 per share; for 1994, distributions totaled $1.47 per share. A recent stock quote is $22 per share and the shares are marginable.

For additional information or a copy of the company's annual report, please contact Allied Capital's Investor Relations Department at 202/973-6383, fax to 202/659-2053 or visit our world wide web site at www.alliedcapital.com .

CONTACT: Allied Capital, Washington

Suzanne Sparrow, 202/973-6326