European Capital Invests in The One Stop Buyout(TM) Of DEVGLASS, Holds 40% Equity Stake

St. Peter Port, Guernsey (ots/PRNewswire) -

European Capital S.A. SICAR, a wholly-owned subsidiary of European
Capital Limited (LSE: ECAS), announced today that it has invested in
the One Stop Buyout(TM) of DEVGLASS, the leading independent French
manufacturer and distributor of dual-pane insulated glass for
windows. The investment was led by the Paris office of European
Capital Financial Services Limited ("European Capital Services"), the
sub-investment manager of European Capital. The investment was made
by European Capital S.A. SICAR and its subsidiary ECAS S.a.r.l, and
takes the form of senior bonds, senior and junior mezzanine bonds,
convertible bonds and common equity. European Capital holds 40% of
the equity in DEVGLASS alongside Olivier Rambeau, DEVGLASS' Chairman
and CEO, who continues to hold a majority equity stake.

"We are pleased to be investing in DEVGLASS and partnering with an
exceptional management team that has an impressive entrepreneurial
track record," said Jean Eichenlaub, Managing Director of European
Capital Services. "European Capital will support DEVGLASS' further
development."

"Aided by the evolution of the regulatory framework and the
development of government incentives aiming at reducing energy
consumption, as well as the increasing demand from consumers, the
market for insulated double-glass windows should keep experiencing
sustainable growth," said Stephane Legrand, European Capital Services
Director. "Led by a proven and committed management team, DEVGLASS
commands a significant market edge, having been at the forefront of
guaranteeing short lead times facilitated by its strategic plant
locations, highly automated production process and efficient
logistics chain."

"DEVGLASS' strict quality standards and responsiveness have earned
it a broad and loyal customer base," said Olivia Reveilliez, European
Capital Services Manager. "DEVGLASS has a clearly defined plan to
further consolidate its leading market position through both the
build-up of sales with existing clients and the recruitment of new
customers."

DEVGLASS produces insulated glass in a process that includes glass
cutting, preparing spacers and assembling glass/pane spacers.
DEVGLASS has four main product groups: standard double-glass;
superior double-glass with improved heating and/or sound insulation;
laminated safety and security double-glass panes; and
newly-introduced triple-glass. Headquartered in Vendee, France,
DEVGLASS has manufacturing plants in Saint-Laurent-sur-Sevre, Vendee
and in Alencon, Orne. DEVGLASS has nearly 300 employees and is
expected to achieve more than 60 million euro of sales in 2007,
equating to a 20% compound average growth rate over the past five
years.

"We are delighted that European Capital is investing in DEVGLASS,"
said Olivier Rambeau, DEVGLASS Founder, Chairman and CEO. "Its strong
one stop financing package, flexibility and capacity in assisting us
in developing the group provides invaluable support for our expansion
plans."

European Capital has invested over 1.7 billion euro (US$2.4
billion) in the last twelve months, 1.4 billion euro (US$1.9 billion)
year to date and 425 million euro (US$601 million) quarter to date.
For more information about European Capital's portfolio, go to
http://www.ECAS.com/our_portfolio/portfolio.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 2.3 billion euro (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 5 million euro
and 500 million euro 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 recapitalisations, and investing in structured finance vehicles.

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, Nathalie Faure Beaulieu or Simon
Henderson at +44-(0)20-7539-7000 in London, Robert von Finckenstein
at +49-(0)69-7171-2970 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$16
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 firm 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 5 million euro to 500 million euro per
company in Europe.

(1)Assets Under Management is an estimate of internally and
externally managed assets as of August 31, 2007 and does not include
any fair value adjustments subsequent to June 30, 2007.

This press release contains forward-looking statements. The
statements regarding expected results of European Capital and/or
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 European
Capital and/or American Capital has made investments.

Web site: http://www.EuropeanCapital.com
http://www.ECAS.com/our_portfolio/portfolio.html

ots Originaltext: European Capital
Im Internet recherchierbar: http://www.presseportal.de

Contact:
Jean Eichenlaub, Managing Director, +33-(0)1-40-68-06-66; or Stephane
Legrand, Director, +33-(0)1-40-68-06-66, or Olivia Reveilliez,
Manager, +33-(0)1-40-68-06-66, or Marie Bal, Communications Manager,
+33-(0)1-40-68-68-66, all of European Capital Limited