FOR IMMEDIATE RELEASE:
17 April 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 Q1 2008 RESULTS ON 13 MAY
Shareholder Call Scheduled for 14 May

St. Peter Port, Guernsey – 17 April 2008 – European Capital Limited (“European Capital”) (LSE: ECAS) announced today it will report first quarter 2008 earnings on Tuesday 13 May 2008.  European Capital invites shareholders, analysts and other interested persons to attend the European Capital Shareholder Call on Wednesday 14 May at 14:30 BST (9:30 EST).  Callers within the UK can dial +44 (0)800 62 66 06.  Other callers from within Europe should dial +44 (0)129 648 0100.  Callers within the United States should dial +1 (866) 804 8688.  The access code for callers is 386 589.

Point your browser to www.EuropeanCapital.com and click on the Q1 2008 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 May on our website www.EuropeanCapital.com.

AUDIO ONLY PRESENTATION AVAILABLE AFTER THE SHAREHOLDER CALL:
There will be a phone recording available from 1:00 BST Thursday 15 May until 1:00 BST Wednesday 28 May.  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 65497516.

For further information or questions, please do not hesitate to call our Investor Relations Department at +44 (0)207 539 7100 or send an email to IR@EuropeanCapital.com.

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 €2.8 billion ($4.4 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 recapitalisations.

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, Simon Henderson or Nathalie Faure Beaulieu at + 44 (0)20 7539 7000 in London, Robert von Finckenstein at +49 (0) 69 71 71 297-0 in Frankfurt, or Luis Felipe Castellanos at +(34) 91 423 27 60 in Madrid, or visit the website at www.EuropeanCapital.com.

ABOUT AMERICAN CAPITAL

American Capital Strategies Ltd. (Nasdaq: ACAS), with $19 billion in capital resources under management, is an affiliate of European Capital and a member of the S&P 500.  It is the largest U.S. publicly traded private equity fund and 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.

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.