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Qioptiq Group

European Capital and American Capital Jointly Invest $85 Million in the Qioptiq Group

St. Peter Port, Guernsey – 15 May 2008 – European Capital Limited (LSE: ECAS) ("European Capital"), announced today that it has invested $57 million in the Qioptiq Group, a leading designer, developer and manufacturer of high-precision optical solutions for the defence, medical and industrial markets. The investment was led by the Paris office of European Capital Financial Services Limited ("European Capital Services") and supports Candover's recapitalisation of Qioptiq. European Capital invested mezzanine debt in Qioptiq, which was arranged and underwritten by The Royal Bank of Scotland and Unicredit. In addition to the $57 million investment by European Capital, its affiliate American Capital Strategies, Ltd. (Nasdaq: ACAS) ("American Capital") invested $28 million in the transaction.