American CapitalStrategies Ltd. (Nasdaq: ACAS) announced today that Douglas Cooper has joinedthe Company as Managing Director of the Commercial Mortgage Asset ManagementGroup. Mr. Cooper was Managing Director at Allied Capital Corporation untilmid-2005, where he was involved in all aspects of the company's CommercialMortgage-Backed Securities investment program, including bond investmentselection, real estate due diligence, structuring, securitization andsurveillance. Mr. Cooper will be responsible for developing a team to manageand invest in commercial mortgage securitizations. "American Capital is pleased to announce the launch of its new CommercialMortgage Asset Management Group, to be headed by Doug Cooper, a professionalwith over 20 years experience in commercial real estate finance," saidChairman, President and CEO Malon Wilkus. "Commercial mortgage assetmanagement offers the opportunity for highly predictable and steady assetmanagement income and current cash returns on equity investments in a granularpool of assets. Consistent with American Capital's initiation of its assetmanagement business with European Capital, the establishment of our CommercialMortgage Asset Management Group follows significant due diligence and marketresearch. Further, we are leveraging American Capital's strong franchise inthe asset backed securities market, where we have pioneered the issuance ofmiddle market Collateralized Loan Obligations, issuing $2.2 billion of bondsbacked by $2.7 billion of commercial loans in seven CLOs. Two of these CLOshave been fully repaid; four have received ratings upgrades. We are confidentof similar success in commercial mortgage investing." Mr. Cooper joins American Capital from CWCapital LLC, where he wasManaging Director in charge of its Washington office. CWCapital oversaw theMay, 2005 acquisition of Allied Capital's CMBS and CDO portfolio by the Caissede Depot en placement de Quebec. Mr. Cooper has spent his career in thecommercial real estate mortgage business, including nine years of direct CMBSdue diligence and surveillance experience and has been involved in theinvestment decisions of over 60 CMBS transactions totaling over $100 billionin underlying loans. ABOUT AMERICAN CAPITAL American Capital is a publicly traded buyout and mezzanine fund withcapital resources of approximately $6.7 billion. American Capital invests inand sponsors management and employee buyouts, invests in private equitybuyouts, provides capital directly to private and small public companies andthrough its asset management business is a manager of debt and equityinvestments in private companies. American Capital provides senior debt,mezzanine debt and equity to fund growth, acquisitions and recapitalizations. As of September 30, 2005, American Capital shareholders have enjoyed atotal return of 407% since the Company's IPO -- an annualized return of 22%,assuming reinvestment of dividends. American Capital has paid a total of $868million in dividends and paid $18.29 dividends per share since its August 1997IPO at $15 per share. Companies interested in learning more about American Capital's flexiblefinancing should contact Mark Opel, Senior Vice President, BusinessDevelopment, at (800) 248-9340, or visit our website. Performance data quoted above represents past performance of AmericanCapital. Past performance does not guarantee future results and theinvestment return and principal value of an investment in American Capitalwill likely fluctuate. Consequently, an investor's shares, when sold, may beworth more or less than their original cost. Additionally, American Capital'scurrent performance may be lower or higher than the performance data quotedabove. This press release contains forward-looking statements. The statementsregarding expected results of American Capital Strategies are subject tovarious factors and uncertainties, including the uncertainties associated withthe timing of transaction closings, changes in interest rates, availability oftransactions, changes in regional, national or international economicconditions, or changes in the conditions of the industries in which AmericanCapital has made investments.

Source: PR Newswire