European Capital Invests Euro 121 Million in Buyout and Mezzanine Transactions

European Capital Invests Euro 121 Million in Buyout and Mezzanine Transactions

March 15, 2006

    LUXEMBOURG, March 15 /Xinhua-PRNewswire/ -- European
Capital Limited and its wholly owned subsidiary European
Capital S.A. SICAR ("European Capital") announced
today it has invested approximately euro 121 million ($144
million) in 6 companies year to date, totaling 15 companies
since its formation in August 2005.  Of the six companies
invested in 2006, five are majority owned by private equity
sponsors including 3i, Apax Partners, CVC Capital Partners
Limited, Electra Partners Europe and Exponent Private
Equity.

    Two of the investments, totaling euro 43 million ($51
million), were implemented by the London office of European
Capital Financial Services Limited ("European Capital
Services"), the sub-investment manager of European
Capital.  The London office's investments included euro 19
million in Partners in Lighting International N.V., a
European manufacturer of lighting fixtures for consumer and
commercial environments, to support CVC Capital Partners'
recapitalization, and euro 24 million in TSL Education
Ltd., a provider of classified advertising for job
vacancies in UK schools, colleges and universities, to
support Exponent Private Equity's acquisition.  European
Capital Services' Paris office implemented four
transactions totaling euro 78 million ($93 million): euro
13 million in Poliris, a French online publisher of real
estate housing listings for real estate agencies, to
support 3i's acquisition; euro 14 million in Tokheim SAS, a
European supplier of retail fuel systems, to support Electra
Partners Europe's acquisition; an undisclosed amount in the
One Stop Buyout(TM) of Action Sport Holding, a distributor
of motorcycle and bicycle gear and accessories in France;
and euro 22.5 million in Alma Consulting Group, a French
provider of tax recovery and cost reduction services for
companies, to support Apax Partners' acquisition. 

    European Capital has invested euro 301 million ($359
million) in 15 companies since its formation in August of
2005.  For more information about European Capital's
portfolio, go to http://www.EuropeanCapital.com . 

    "We are delighted with the tremendous progress
European Capital has made in the European middle market and
excited about the strong pipeline of investment
opportunities we have moving forward.  Since the start of
2006, the London office has already arranged two mezzanine
investments and the Paris office has completed a One Stop
Buyout(TM) and arranged three mezzanine investments,"
said Ira Wagner, President of European Capital Services. 
"European Capital's success results from our ability
to provide senior debt, mezzanine debt and equity and
complete One Stop Buyouts(TM).  In addition, these
transactions could not have been executed without our
experienced and dedicated team of investment professionals
in our European offices, accompanied by the backing of
American Capital's corporate infrastructure."  

    About European Capital

    European Capital is a buyout and mezzanine fund with
capital resources of euro 1.1 billion ($1.3 billion).
European Capital invests in and sponsors management and
employee buyouts, invests in private equity buyouts and
provides capital directly to private and mid-sized public
companies. European Capital invests from euro 5 million to
euro 125 million per transaction in equity, mezzanine debt
and senior debt to fund growth, acquisitions and
recapitalizations. 

    Companies interested in learning more about European
Capital's flexible financing should contact Jean Eichenlaub
at + 33 (0)1 40 68 06 66 in Paris, Simon Henderson at or
Nathalie Faure Beaulieu at + 44 (0)207 539 7000 in London,
or visit the website at http://www.EuropeanCapital.com .  

    About American Capital

    American Capital (Nasdaq: ACAS) is a publicly traded
buyout and mezzanine fund with capital resources of
approximately $7 billion.  American Capital invests in and
sponsors management and employee buyouts, invests in
private equity buyouts, provides capital directly to early
stage and mature private and small public companies and
through its asset management business is a manager of debt
and equity investments in private companies and commercial
loan obligations. American Capital provides senior debt,
mezzanine debt and equity to fund growth, acquisitions,
recapitalizations and securitizations. American Capital
invests up to $300 million per transaction.

    This press release contains forward-looking statements.
The statements regarding expected results of American
Capital are subject to various factors and uncertainties,
including the uncertainties associated with the timing of
transaction closings, changes in interest rates,
availability of transactions, changes in regional, national
or international economic conditions, or changes in the
conditions of the industries in which American Capital has
made investments.

    For more information, please contact:

     Jean Eichenlaub, 
     Managing Director, European Capital Services
     Tel:   [phone]

     Simon Henderson, 
     Managing Director, European Capital Services
     Tel:   [phone]
     
     Nathalie Faure Beaulieu,
     Managing Director, European Capital Services
     Tel:   [phone]

     Brian Maney, 
     Director, Corporate Communications,
     American Capital
     Tel:  [phone]

SOURCE  European Capital