FOR IMMEDIATE RELEASE:
31 January 2008

Contact
Tom McHale, Director, European Capital Financial Services Limited +44 (0)207 539 7100
Juan Carlos Morales Cortes, Finance Director, European Capital Financial Services Limited +44 (0)207 539 7000
Justin Cressall, Vice President, Equity Capital Markets, American Capital +44 (0)207 539 7100

EUROPEAN CAPITAL WILL REPORT Q4 2007 RESULTS ON 13 FEBRUARY
Shareholder Call Scheduled for 14 February

St. Peter Port, Guernsey – 31 January 2008 – European Capital Limited (LSE: ECAS) announced today it will report fourth quarter 2007 earnings on Wednesday 13 February 2008. European Capital invites shareholders, analysts and other interested persons to attend the European Capital Shareholder Call on Thursday 14 February at 14:30 GMT (9:30 EST).  Callers within the UK can dial +44 (0)800 678 1161.  Other callers from within Europe should dial +44 (0) 207 740 9501.  Callers within the United States should dial +1 (866) 804-8688.  The access code for callers is 320 568.

Point your browser to www.EuropeanCapital.com and click on the Q4 2007 Shareholder Call Slide Show button.

BEFORE THE CALL:
REVIEW SLIDE PRESENTATION IN ADVANCE OF THE SHAREHOLDER CALL
The quarterly shareholder presentation includes a slide presentation to accompany the call that participants may download and print prior to the call.  You may wish to take the time to review the slides in advance of the Shareholder Call.

DURING THE CALL:
VIEW STREAMING SLIDE PRESENTATION DURING THE SHAREHOLDER CALL
During the Shareholder Call you may watch and listen to the webcast or listen to the Shareholder Call by phone and step through the slides at your own pace.

AFTER THE CALL:
LISTEN AND VIEW AUDIO SLIDE PRESENTATION AFTER THE CALL
The audio of the Shareholder Call combined with the slide presentation will be made available after the call on 14 February on our website www.EuropeanCapital.com.

AUDIO ONLY PRESENTATION AVAILABLE AFTER THE SHAREHOLDER CALL:
There will be a phone recording available from 23:59 GMT Thursday 14 February until 23:59 GMT Thursday 28 February.  If you are interested in hearing the recording of the presentation, please dial +44 (0)800 032 9687 or +44 (0)207 136 9233. The access code for callers is 77284642.

For further information or questions, please do not hesitate to call our Investor Relations Department at +44 (0)20 7539 7100.

ABOUT EUROPEAN CAPITAL

European Capital is a publicly traded investment company for pan-European equity, mezzanine and senior debt investments with capital resources of approximately €2.3 billion ($3.3 billion).  It is managed by European Capital Financial Services (Guernsey) Limited (“ECFSG” or “the Investment Manager”), a wholly-owned affiliate of American Capital Strategies, Ltd (“American Capital”).

European Capital invests in and sponsors management and employee buyouts, invests in private equity buyouts and provides capital directly to private and public companies headquartered predominantly in Europe.  European Capital generally invests between €5 million and €500 million per transaction in equity, mezzanine debt and senior debt to fund growth, acquisitions and recapitalizations.

The investment objective of European Capital is to provide investors with dividend income and the potential for share value appreciation by investing in debt and equity investments in private and public companies headquartered primarily in Europe. European Capital seeks to achieve this through pursuing the following types of investments:

European Capital One Stop Buyouts™
Through our One Stop Buyouts™, European Capital provides equity, mezzanine debt and senior debt as the lead investor in the buyout of private and public companies.

Mezzanine Direct with Sponsors
European Capital provides debt and equity financing for buyouts sponsored by private equity firms where European Capital is either the sole or lead mezzanine debt investor.

Syndicated Mezzanine and Senior Debt
European Capital provides mezzanine and senior financing for buyouts sponsored by private equity firms where European Capital is neither the sole nor lead mezzanine or senior debt investor.

Direct Investments
European Capital provides debt and equity financing directly to private and public companies, which is used for growth, acquisitions or recapitalisations, and investing in structured finance vehicles.

Companies interested in learning more about European Capital's flexible financing should contact Jean Eichenlaub at +33 (0)1 40 68 06 66 in Paris, Nathalie Faure Beaulieu or Simon Henderson at +44 (0)20 7539 7000 in London, Robert von Finckenstein at +49 (0)69 7171 2970 in Frankfurt, or Luis Felipe Castellanos at +(34) 91  745 99 63 in Madrid, or visit the website at www.EuropeanCapital.com

ABOUT AMERICAN CAPITAL

American Capital Strategies Ltd. (Nasdaq: ACAS), with $20 billion in capital resources under management¹, is an affiliate of European Capital and a member of the S&P 500. It is the largest U.S. publicly traded private equity firm and one of the largest publicly traded alternative asset managers.  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.

¹ Capital resources under management is an estimate of internally and externally managed assets and available capital resources as of November 30, 2007 and does not include any fair value adjustments subsequent to September 30, 2007.

This press release contains forward-looking statements. The statements regarding expected results of European Capital and/or American Capital 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 European Capital and/or American Capital has made investments.