SHAREHOLDER UPDATES

Q2 2008 Shareholder Presentation

Investor Fact Sheet

Investor Conference and Annual Meeting – New York, NY – May 19th

2007 Annual Report

AMERICAN CAPITAL NEWS

American Capital Realizes $57 Million Gain from Sale of Contec, Provides Financing to Support Acquisition by Bain Capital with Contec Management

American Capital Declares $1.05 Q3 2008 Dividend, Reports $0.71 NOI and $0.95 Realized Earnings in Q2 2008

More American Capital News »

PRESS COVERAGE

Buyouts Beat: Five Questions with Bowen Diehl, Buyouts

American Capital Portfolio Company Confluence's new CEO aims to boost sales, The Greenville News

More Press Coverage »

STOCK RETURNS CALCULATOR

Calculate Returns On Your
American Capital Stock

* Includes Dividends Reinvested

INVESTOR RELATIONS

Investment Value

American Capital shareholders participate in a distinctive investment relationship. The Company deploys capital provided by public shareholders in order to make long-term investments in growing middle market businesses. By doing so, we facilitate the flow of investor dollars to businesses in need of capital throughout America. At the same time American Capital shareholders enjoy the liquidity, transparency and independent governance associated with a public company.

Individual Shareholders: click here to receive regular e-mail updates from American Capital.

Annualized Returns to Investors

ACAS outperformed 9%, 17%, 43% and 79% of all U.S. public companies with a current market capitalization greater than $1 billion in the 1-year, 3-years, 5-years and since IPO, in each case ending June 30, 2008.

	YTD 2008	1 Year Ending 6/30/08	3 Years Ending 6/30/08	5 Years Ending 6/30/08	8/29/97^A Through 6/30/08
American Capital*	-40.1%	-36.6%	-4.0%	9.0%	14.4%
S&P 500^B**	-22.5%	-13.1%	4.4%	7.6%	5.0%
Dow Jones 30 Industrials^B**	-24.8%	-13.2%	5.8%	7.2%	5.9%
Nasdaq Composite^B	-25.3%	-11.9%	3.7%	7.2%	3.5%
Russell 2000^B	-19.0%	-17.2%	2.5%	9.0%	4.6%

^A ACAS IPO date priced at $15.00 per share.

^B Source: FactSet.

* Includes reinvested dividends calculated based on close price 1 day prior to payment date.

** Includes dividends reinvested as of ex-dividend date.