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American Capital Invests $45 Million in Leading Content Outsourcing Firm

Bethesda, MD - August 17, 2005 - American Capital Strategies Ltd. (Nasdaq:ACAS) announced today it has invested $45 million in the recapitalization of TechBooks Inc., a leading electronic content outsourcing firm. American Capital's investment takes the form of senior and junior subordinated debt and convertible preferred equity. Bank of America is providing a revolving credit facility. TechBooks management is maintaining a controlling equity interest. Post close, American Capital owns approximately 20% of TechBooks, on a fully diluted basis. More...