INVESTOR RELATIONS

NOTICE

This section of the website is dedicated to providing information on the recommended all-share offer made by American Capital, Ltd. ("ACAS") for the entire issued and to be issued share capital of European Capital Limited ("European Capital") not already owned by ACAS, which is intended to be implemented by way of a court approved scheme of arrangement under Part VIII of the Companies (Guernsey) Law, 2008 (as amended) ("the Scheme") (the "Scheme Website").

Overseas Shareholders

The Scheme Website contains information on the Scheme. The accessing and viewing of such information may be restricted if you are subject to the laws of any jurisdiction other than the UK or Guernsey. Before accessing the Scheme Website you should inform yourself about, and observe, applicable legal and regulatory requirements in your jurisdiction, including obtaining governmental or other consents and observing any other formalities.

You represent that European Capital is lawfully entitled to make the content of the Scheme Website available to you under applicable securities laws. If you are unable to give this representation do not view the content of the Scheme Website.

Responsibility

The directors of European Capital accept responsibility for the information contained in the Scheme Website, which appears through clicking the link below, relating to European Capital and the directors of European Capital, save that only the independent directors (comprising Alexis Babeau, Huw Evans and Jean-Louis Gleizes) accept responsibility for their conclusions regarding the offer, for giving the background to and reasons for their conclusions regarding the offer, and for any views of the independent directors expressed in the information contained in the Scheme Website. To the best of the knowledge and belief of the directors of European Capital (who have taken all reasonable care to ensure that such is the case), the information contained in the Scheme Website for which they are respectively accepting responsibility is in accordance with the facts and does not omit anything likely to affect the import of such information.

The directors of European Capital are responsible in the terms set out above solely for the information contained in the Scheme Website which appears through clicking the link below and not for any other information which you may visit on leaving the Scheme Website.

Acceptance of Disclaimer

By clicking "Continue" you hereby acknowledge that you have read and understood the notice set out above and that you agree to be bound by its terms.