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American Capital Realizes a Gain of $69 Million in the Second Quarter From Its Investment in BPWest
Provides $68 Million to Support Castle Harlan’s $250 Million Acquisition of BPWest

Bethesda, MD – May 5, 2008 – American Capital Strategies Ltd. (Nasdaq: ACAS) announced today that it has realized a gain of $69 million in the second quarter of 2008 from the sale of its portfolio company BPWest Inc., the holding company for Anchor Drilling Fluids USA Inc., to Castle Harlan Inc. American Capital's inception to date total realized gain on its investment in BPWest is $80 million. Including the investments in BPWest of American Capital's funds under management, the gain totals $123 million over the life of the investment. Including inception to date dividends, cumulative gains and dividend income realized by American Capital and affiliates of American Capital totaled over $139 million over the life of the investment.

American Capital Invests $21 Million in BPWest

Bethesda, MD – July 21, 2005 – American Capital Strategies Ltd. (Nasdaq:ACAS) announced today it has invested $21 million in BPWest Inc., an entity formed to acquire Jordan Drilling Fluids Inc., parent company of Anchor Drilling Fluids USA Inc. Anchor is a leading provider of drilling fluid products and services for oil and gas drilling. American Capital's investment takes the form of a senior term B loan, senior subordinated debt, preferred and common equity. PNC Business Credit is providing a revolving credit facility and a senior term A loan. Post close, American Capital owns approximately 69% of Anchor Drilling Fluids, on a fully diluted basis. [more...]