ACAS American Capital, Ltd.

American Capital Names Frank Do Senior Vice President, Managing Director in Los Angeles Office BETHESDA, Md., April 30 /PRNewswire-FirstCall/ -- American Capital Strategies Ltd. announced today the promotion of Frank Do to Senior Vice President and Managing Director. He will lead American Capital's nine-person Los Angeles office. "We are very happy to announce Frank Do's promotion to Senior Vice President and Managing Director in American Capital's Los Angeles office," said American Capital Chairman, President and CEO Malon Wilkus. "Frank is a strong buyout professional and is the perfect person to manage the Los Angeles office of American Capital. His extensive buyout experience, wide-ranging contacts and management and organizational skills have enriched American Capital since he joined us two years ago, and he has proven his capabilities through his excellent investment results. We look forward to working with Frank as he implements his progressive vision for his office." Mr. Do joined American Capital as a Principal in the Los Angeles office in January 2002. He has more than fourteen years of private equity buyout experience with total invested capital of over $350 million. Prior to joining American Capital, Mr. Do was General Partner at Westar Capital, a private equity firm based in Southern California. Before that, he was a Principal at Chase Capital Partners (now JP Morgan Partners), a private equity firm with approximately $18 billion under management. His investment experience includes middle market buyouts, leveraged recapitalizations, mezzanine debt, growth equity and venture capital. Mr. Do has experience investing in a broad range of industries, including consumer products, information services, specialty retailing, industrial manufacturing, value-added distribution, healthcare services and devices, and capital goods. Mr. Do holds a B.A. in Economics and International Relations from Claremont McKenna College and an M.B.A. from Harvard Business School. As of March 31, 2004, American Capital shareholders have enjoyed a total return of 296% since the Company's IPO -- an annualized return of 23%, assuming reinvestment of dividends. American Capital has declared a total of $13.82 per share in dividends since its August 1997 IPO. American Capital is a publicly traded buyout and mezzanine fund with capital resources in excess of $2.7 billion. American Capital is an investor in and sponsor of management and employee buyouts; invests in private equity sponsored buyouts, and provides capital directly to private and small public companies. American Capital provides senior debt, mezzanine debt and equity to fund growth, acquisitions and recapitalizations. Companies interested in learning more about American Capital's flexible financing should contact Mark Opel, Principal, at (800) 248-9340, or visit our website at http://www.americancapital.com/. 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 or national economic conditions, or changes in the conditions of the industries in which American Capital has made investments. DATASOURCE: American Capital Strategies Ltd. CONTACT: Ira Wagner, Chief Operating Officer, +1-301-951-6122, or Brian Maney, Director, Corporate Communications, +1-301-951-6122, both of American Capital Strategies Ltd. Web site: http://www.americancapital.com/

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