European Capital Receives Proceeds of euro 74 Million From The GO Voyages Exit

ST. PETER PORT, Guernsey, July 6, 2010 - European Capital Limited ("European Capital") announced today that it has
received proceeds of euro 74 million from exiting its investment in GO
Voyages.

Created in 1997, GO Voyages, employing 350 people, is one of the largest
on-line travel agents in Europe and the market leader for on-line leisure
flight tickets in France. In March 2007, European Capital provided euro 50
million to support the acquisition of GO Voyages by an affiliate of Groupe
Arnault and Compagnie Nationale a Portefeuille (Groupe Albert Frere).
European Capital's investment took the form of senior and junior mezzanine
bonds and preferred and common equity.

On July 2nd 2010, funds advised by AXA Private Equity purchased GO
Voyages, leading to the repayment of European Capital's senior and junior
mezzanine bonds and to the sale of European Capital's preferred and common
shares, generating proceeds of euro 74 million. European Capital realized a
16% annual blended mezzanine rate of return, a 19% annual blended equity rate
of return and a euro 10 million equity gain from the transaction.

"GO Voyages has been a remarkable investment for European Capital and is
the second exit for European Capital's Paris branch in 2010, following the
Spotless Group exit, which generated proceeds of euro 131 million," said Ira
Wagner, President of European Capital Financial Services. "European Capital
has been pleased to partner with Groupe Arnault and Compagnie Nationale a
Portefeuille which brought an invaluable contribution to the success of GO
Voyages."

"We are pleased to have supported GO Voyages and its outstanding
management team in building on the Company's leading position in the
fast-growing on-line tourism market," said Stephane Legrand, Director of
European Capital Financial Services. "It exemplifies European Capital's
willingness to support the development of leading companies in rapidly moving
markets."

"European Capital's in-depth, hands on and expert support has been
instrumental in the achievement of GO Voyages' outstanding growth over the
last three years," said Carlos da Silva, CEO of GO Voyages. "We valued their
contribution in helping us capture an ever greater share of the rapidly
growing online tourism market and successfully initiate our international
expansion in other major European markets," said Nicolas Brumelot, Deputy CEO
of GO Voyages.

For more information about European Capital's investment in GO Voyages,
please visit:
www.europeancapital.com/our_portfolio/companies/spotless_group.html

ABOUT EUROPEAN CAPITAL

European Capital is an investment company for pan-European equity,
mezzanine and senior debt investments with euro 1.3 billion in assets under
management. It is managed by European Capital Financial Services (Guernsey)
Limited ("ECFSG" or the "Investment Manager"), a wholly-owned affiliate of
American Capital Ltd.

ABOUT AMERICAN CAPITAL

American Capital Ltd. (Nasdaq: ACAS) is a publicly traded private equity
firm and global asset manager with US$14 billion in capital resources under
management. American Capital, both directly and through its asset management
business, originates, underwrites and manages investments in middle market
private equity, leveraged finance, real estate and structured products.
Founded in 1986, American Capital currently has eight offices in the U.S.,
Europe and Asia. For further information, please refer to
www.AmericanCapital.com.

ABOUT AXA PRIVATE EQUITY

Founded in 1996, AXA Private Equity, an AXA Investment Managers company,
is a diversified private equity firm with US$25 billion of assets managed or
advised and eight offices in Paris, Frankfurt, London, New York, Singapore,
Milan, Zurich and Vienna. For further information, please refer to
www.axaprivateequity.com.

ABOUT GROUPE ARNAULT

Groupe Arnault is the family holding company of Bernard Arnault which
controls LVMH - Moet Hennessy Louis Vuitton.

ABOUT COMPAGNIE NATIONALE A PORTEFEUILLE

Compagnie Nationale a Portefeuille is Albert Frere's family office and
holds directly and indirectly minority investments in leading European Groups
such as Total, GDF Suez, Lafarge, Iberdrola and Imerys.

This press release contains forward-looking statements. The statements
regarding expected results of European Capital and/or American Capital are
subject to various factors and uncertainties, including the uncertainties
associated with the timing of transaction closings, changes in interest
rates, availability of transactions, changes in regional, national or
international economic conditions, or changes in the conditions of the
industries in which European Capital and/or American Capital has made
investments.

    Contact: European Capital Financial Services Limited Tel:
+33-(0)1-40-68-06-66

    Ira Wagner, President
    Tristan Parisot, Managing Director
    Stephane Legrand, Director
    Kevin Abrial, Investment Director

Ira Wagner, President; Tristan Parisot, Managing Director; Stephane Legrand, Director; or Kevin Abrial, Investment Director, all of European Capital Financial Services Limited, Tel: +33-(0)1-40-68-06-66