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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

William Rudat

Vice President, Technology Group

Will Rudat works in the Technology Group at American Capital, pursuing early and mid stage venture investments, as well as late stage growth equity and leveraged buyout opportunities, in technology-oriented companies. Mr. Rudat is actively involved with portfolio companies Contour Semiconductor, Moxy Media, and FreeConference.com, and serves on the Board of Directors of FreeConference.com. He joined American Capital in February 2002 and was promoted to Associate, Operations Team, in 2003, and then to Vice President in 2007. During his tenure with the Operations Team, Mr. Rudat evaluated and executed investments and operational improvements in support of the restructuring, growth, and exit strategies of more than 15 portfolio companies comprising $500MM of invested capital. Mr. Rudat helped complete the sale of portfolio companies EuroCaribe Packing Company, Logex, and Stravina.

Prior to American Capital, Mr. Rudat held corporate development positions with startup telecommunications companies CityNet Telecommunications and NETtel Communications. He started his career as an auditor with Ernst & Young LLP, working primarily in the Financial Services and Aerospace and Defense industries.

Mr. Rudat holds an MBA in Finance and Operations Management from the Wharton School of the University of Pennsylvania, and a BBA in Accounting from the University of Wisconsin, where he was a four-year Division I letterman in swimming. He is a Certified Public Accountant.

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