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American Capital exited its investment in SmithBucklin Corporation in the fourth quarter of 2006.

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American Capital Invests $17 Million in World's Largest Association Management and Professional Services Company

Bethesda, MD - July 7, 2005 - American Capital Strategies Ltd. (Nasdaq:ACAS) announced today it has invested $17 million in SmithBucklin Corporation, the world's largest association management and professional services company. American Capital's investment takes the form of a senior term B loan and senior subordinated debt and supports the SmithBucklin Employee Stock Ownership Plan's ("ESOP") purchase of the business from the financial investors who had the majority interest in the Company. In addition, SmithBucklin secured a revolving credit facility and a senior term A loan from LaSalle Bank and other financing to complete the transaction. As a result of this transaction, SmithBucklin employees own 100% of SmithBucklin's common stock through the ESOP. More...