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SHAREHOLDER UPDATES

Q3 2008 Shareholder Presentation

2007 Annual Report

AMERICAN CAPITAL NEWS

American Capital to Present at Merrill Lynch Banking & Financial Services Conference

American Capital Announces Plan To Acquire European Capital, Revises Dividend Policy and Reports Q3 2008 Earnings

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PRESS COVERAGE

American Capital Dons Debt Hat, Promenades To A Stronger Exit, Dow Jones Private Equity Analyst

Buyouts Beat: Five Questions with Bowen Diehl, Buyouts

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NEWSLETTER

American Capital Newsletter

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OUR PEOPLE

Joel Gulick

Associate General Counsel

Joel Gulick joined American Capital in 2005 as Assistant General Counsel responsible for executive compensation matters. Prior to joining American Capital, Mr. Gulick was an Associate in the Tax Group of Arnold & Porter LLP in Washington, D.C., where his practice focused primarily on transactional employee benefits matters. He also advised clients regarding certain tax-qualified plan matters.

Mr. Gulick received his J.D. with High Honors from the George Washington University School of Law, where he was a member of the Law Review and Order of the Coif. He received his B.A., cum laude, in History from Gettysburg College. Mr. Gulick is a member of the Maryland and District of Columbia Bars.