FOR IMMEDIATE RELEASE:
June 21, 2007

Contact
Adam Spence, Managing Director (212) 219-2009
Steve Gord , Vice President (610) 238-0210
Brian Maney, Director, Corporate Communications (301) 951-6122

AMERICAN CAPITAL INVESTS $38 MILLION IN CAMP SYSTEMS INTERNATIONAL

Bethesda, MD – June 21, 2007 – American Capital Strategies Ltd. (Nasdaq:ACAS) announced today that it has invested $38 million in CAMP Systems International Inc., the leading provider of subscription-based maintenance tracking information services to the corporate aviation market.  American Capital’s investment supports the recapitalization of the Company and takes the form of a second lien term loan.  Merrill Lynch Capital led the syndication of a term loan B.  CAMP Systems is a portfolio company of Warburg Pincus, the global private equity firm.

“CAMP Systems International is an innovative company backed by an outstanding global private equity firm,” said Brian Graff, American Capital Regional Managing Director.  “We are pleased to be working with the Company’s excellent management team and private equity partner Warburg Pincus.”

American Capital has invested directly and through its funds under management $8.7 billion in the last twelve months, $4.6 billion year to date and approximately $3 billion quarter to date.  Not including funds under management, American Capital has invested $6.1 billion in the last twelve months, $3.1 billion year to date and approximately $2 billion quarter to date.  For more information about American Capital’s portfolio, click here.

“CAMP Systems commands the largest share of the market for maintenance tracking services for corporate aircraft.  The Company’s software provides corporate jet owners the important and complex service of aiding in maintaining airworthiness compliance, and, as such, enjoys tremendously high subscription renewal rates,” said Adam Spence, American Capital Managing Director.  “CAMP Systems has captured market leadership through its early introduction of web-based tracking of maintenance services, its strong partnerships with several leading corporate aircraft OEMs and its diversification into brokerage services, providing both additional revenues and ready access to new potential customers.”

“CAMP Systems stands out from its competitors in its ability to serve the complete array of aircraft types.  As a result, it has achieved industry-leading scale and impressive financial performance.  Management has taken steps to broaden its customer base, including the successful integration of strategic acquisitions,” said Steve Gord, American Capital Vice President.  “To build on its outstanding renewal rates, CAMP Systems has developed a variety of value added offerings including database services and flight scheduling.”

Founded in 1967, CAMP Systems International has the largest market share for the provision of maintenance tracking services to corporate aircraft. The Company’s service alerts owners and operators and their maintenance staffs to maintenance requirements, provides online and live technical support and serves as a data storage warehouse for plane maintenance records.  The Company also provides flight scheduling services and market intelligence to aircraft brokers.  CAMP Systems is headquartered in Islip, NY and CAMP Europe is based in Paris, France.  CAMP Systems also has facilities in Wichita, KS, Dania, FL, Tinton Falls, NJ and Savannah, GA, Montreal, Canada and Hyderabad, India.

“We are delighted that American Capital is investing in CAMP Systems,” said Ken Gray, CEO of CAMP Systems.  “With the backing of our larger group of investment partners we are in an excellent position to further grow our business and solidify our leading market position at home and abroad.”

ABOUT AMERICAN CAPITAL

American Capital is the second largest U.S. publicly traded alternative asset manager with $12 billion in assets under management (second to Fortress (NYSE: FIG)).  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 $5 million to $800 million per company in North America and €5 million to €500 million per company in Europe.

As of May 31, 2007, American Capital shareholders have enjoyed a total return of 656% since the Company's IPO - an annualized return of 23%, assuming reinvestment of dividends.  American Capital has paid a total of $1.6 billion in dividends and paid or declared $24.24 dividends per share since its August 1997 IPO at $15 per share.

Companies interested in learning more about American Capital's flexible financing should contact Mark Opel, Senior Vice President, Business Development, at (800) 248-9340, or visit www.AmericanCapital.com or www.EuropeanCapital.com.

Performance data quoted above represents past performance of American Capital. Past performance does not guarantee future results and the investment return and principal value of an investment in American Capital will likely fluctuate. Consequently, an investor's shares, when sold, may be worth more or less than their original cost. Additionally, American Capital's current performance may be lower or higher than the performance data quoted above.

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.

This announcement is neither an offer to sell nor a solicitation to buy securities. This announcement appears as a matter of record only.