ST. PETER PORT, Guernsey, September 21 /PRNewswire/ --

European Capital Limited ("European Capital") (LSE: ECAS) announced today
that ECAS s.a.r.l, a wholly-owned subsidiary of European Capital, on
September 7 completed the refinancing of 31 million pounds sterling (euro 46
million) in senior secured credit facilities of portfolio company Miles 33
Group Ltd. Lloyds TSB Bank plc and Bank of Ireland each provided 15m pounds
sterling of loan term facilities and Lloyds TSB Bank plc provided an
additional 1m pounds sterling revolving credit facility. Following the
refinancing, European Capital holds a 28 million pounds sterling (euro 41
million) investment in Miles 33, consisting of equity, a loan note and
mezzanine debt. European Capital completed its original One Stop Buyout(TM)
of Miles 33 on 11 June 2007 investing 57 million pounds sterling (euro 83
million) alongside the company's management and previous owner. European
Capital has refinanced euro 504 million of senior loans in eight
One-Stop-Buyouts(TM).

"We continue to be successful in syndicating senior credit facilities in
our One Stop Buyouts(TM), underscoring the strength of our growing portfolio
in a time of market uncertainty," said Simon Henderson, European Capital
Managing Director.

Founded in 1976, Miles 33 is a supplier of computer software to the
publishing sector, with regional newspapers being its largest customer
segment. Miles 33's integrated suite of modules supports key functions such
as editorial production and workflow, advertising booking (paper and online),
customer relationship management and credit management. The company also
supplies law firms with practice management and financial software. Miles 33
has an innovative sales model, which has enabled the company to build long
standing customer relationships with leading newspaper publishers and to
generate strong growth in recurring revenues. Miles 33 is based in Bracknell,
Berkshire, UK.

For more information about European Capital's investment in Miles 33,
please visit 
http://www.europeancapital.com/news/newsreleases/2007/PR20070611.html.

ABOUT EUROPEAN CAPITAL

European Capital is a publicly traded investment company for pan-European
equity, mezzanine and senior debt investments with capital resources of
approximately euro 2.3 billion (US$3.2 billion). It is managed by European
Capital Financial Services (Guernsey) Limited ("ECFSG" or "the Investment
Manager"), a wholly-owned affiliate of American Capital Strategies, Ltd
("American Capital").

European Capital invests in and sponsors management and employee buyouts,
invests in private equity buyouts and provides capital directly to private
and public companies headquartered predominantly in Europe. European Capital
generally invests between euro 5 million and euro 500 million per transaction
in equity, mezzanine debt and senior debt to fund growth, acquisitions and
recapitalizations.

The investment objective of European Capital is to provide investors with
dividend income and the potential for share value appreciation by investing
in debt and equity investments in private and public companies headquartered
primarily in Europe.

European Capital seeks to achieve this through pursuing the following
types of investments:

European Capital One Stop Buyouts(TM)

Through our One Stop Buyouts(TM), European Capital provides equity,
mezzanine debt and senior debt as the lead investor in the buyout of private
and public companies.

Mezzanine Direct with Sponsors

European Capital provides debt and equity financing for buyouts sponsored
by private equity firms where European Capital is either the sole or lead
mezzanine debt investor.

Syndicated Mezzanine and Senior Debt

European Capital provides mezzanine and senior financing for buyouts
sponsored by private equity firms where European Capital is neither the sole
nor lead mezzanine or senior debt investor.

Direct Investments

European Capital provides debt and equity financing directly to private
and public companies, which is used for growth, acquisitions or
recapitalizations, and investing in structured finance vehicles.

Companies interested in learning more about European Capital's flexible
financing should contact Simon Henderson or Nathalie Faure Beaulieu at 
+44-(0)-20-7539-7000 in London, Jean Eichenlaub at +33-(0)-1-40-68-06-66 in 
Paris, Robert von Finckenstein at +49-(0)-69-71-71-297-0 in Frankfurt, or 
Luis Felipe Castellanos at +(34)-91-745-99-63 in Madrid, or visit the website 
at http://www.EuropeanCapital.com.

ABOUT AMERICAN CAPITAL

American Capital Strategies Ltd. (Nasdaq: ACAS), with US$17 billion in
assets under management (1), is an affiliate of European Capital and a member
of the S&P 500. It is the largest U.S. publicly traded private equity fund
and one of the largest publicly traded alternative asset managers. American
Capital, both directly and through its global asset management business, is
an investor in management and employee buyouts, private equity buyouts, and
early stage and mature private and public companies. American Capital
provides senior debt, mezzanine debt and equity to fund growth, acquisitions,
recapitalizations and securitizations. American Capital and its affiliates
invest from US$5 million to US$800 million per company in North America and
euro 5 million to euro 500 million per company in Europe.

(1) Includes internally and externally managed assets at fair value as of
3/31/07, including our investments in externally managed funds, plus
investments at cost through 6/30/07 and less repayments through 6/30/07.

This press release contains forward-looking statements. The statements
regarding expected results of American Capital Strategies 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.

Web site: http://www.EuropeanCapital.com
              http://www.americancapital.com