European Capital Invests Euro 20 Million in Onduline, Leading Global Supplier Of Corrugated Bitumen Sheets to the Roofing Market

Paris (ots/PRNewswire) -

European Capital, S.A. SICAR announced today it has arranged the
euro 20 million (US$24 million) mezzanine facility of Onduline, a
leading global supplier of corrugated bitumen sheets to the roofing
market. European Capital's investment takes the form of mezzanine
bonds and supports ABN AMRO Capital France and Astorg Partners'
acquisition of Onduline.

"We are pleased that ABN AMRO Capital and Astorg Partners, two
excellent European private equity sponsors, came to us for financing
in their acquisition of Onduline," said Ira Wagner, President of
European Capital Financial Services Limited ("European Capital
Services"), the sub-investment manager of European Capital.
"Onduline's leadership in a niche market, attractive sales growth in
both emerging and industrialized markets and strong cash flow
generation make it a great addition to our growing portfolio of
investments."

European Capital has invested euro 390 million (US$472 million) in
17 companies since its formation in August of 2005. For more
information about European Capital's portfolio, go to
http://www.europeancapital.com/our_portfolio/our_portfolio.cfm.

"Onduline is the worldwide leader in the overlay and underlay
bitumen sheets markets, offering competitive products that are easy
to install and provide excellent thermal, waterproofing and weather
insulation," said Jean Eichenlaub, European Capital Managing
Director. "The Company has been especially successful in leveraging
its significant barriers to entry, including its leading market share
in a niche market, large capacity manufacturing abilities, economies
of scale and proprietary mono-layer technology."

"Onduline's committed management team has tremendous experience in
the roofing industry and a solid track record of growing the
business, driving both sales growth and EBITDA margins," said
Stephane Legrand, European Capital Vice President. "We are confident
in their leadership and believe they will continue to drive
Onduline's growth and capitalize on opportunities."

Headquartered in Paris, Onduline was the first company to
introduce single-layer corrugated bitumen sheets as an economical
lightweight solution for thermal and acoustic insulation on pitched
roofs for residential construction, agricultural warehousing and
lightweight industrial applications. The Company now designs,
produces and markets overlay and underlay bitumen sheets, bitumen
membranes and complementary roofing products. Overlay bitumen sheets
are used as the external layer on pitched roofs or as wall-cladding
material on non-residential buildings and housing. Underlay bitumen
sheets are used as waterproofing and insulation shields designed to
fit under roof tiles on non-residential buildings and housing.
Bitumen membranes are used for weatherproofing and insulation on flat
roofs for industrial buildings and warehouses. The Company has
approximately 1,000 employees and operates 10 production plants in
Italy, Portugal, France, Belgium, Turkey, Poland, Ukraine, Brazil and
Malaysia and also has 23 sales offices worldwide. The Company's
products are sold through more than 15,000 construction materials
merchants. In 2005, Onduline recorded annual sales of approximately
euro 264 million.

"This is our first time working with European Capital and we were
impressed with their responsiveness, determination and financing
abilities, all which contributed to the smooth closing of this
transaction," said Pascal Noguera, Senior Director of Astorg
Partners.

"We are delighted to work with European Capital in this
investment," said Patrice Verrier, Managing Partner of ABN AMRO
Capital France. "Their team's experience in the middle market and
mezzanine financing enabled them to quickly address and resolve
issues that arose throughout the transaction process."

ABOUT EUROPEAN CAPITAL

European Capital is a buyout and mezzanine fund with capital
resources of euro 1.1 billion (US$1.3 billion). European Capital
invests in and sponsors management and employee buyouts, invests in
private equity buyouts and provides capital directly to private and
mid-sized public companies. European Capital invests from euro 5
million to euro 125 million per transaction in equity, mezzanine debt
and senior debt to fund growth, acquisitions and recapitalizations.

Companies interested in learning more about European Capital's
flexible financing should contact Jean Eichenlaub at
+33(0)1-40-68-06-66 in Paris, or Nathalie Faure Beaulieu or Simon
Henderson at +44(0)20-7539-7000 in London, or visit the website at
http://www.EuropeanCapital.com.

ABOUT AMERICAN CAPITAL

American Capital Strategies Ltd. (Nasdaq: ACAS), an affiliate of
European Capital, is a publicly traded buyout and mezzanine fund with
capital resources of approximately US$7 billion. American Capital
invests in and sponsors management and employee buyouts, invests in
private equity buyouts, provides capital directly to early stage and
mature private and small public companies and through its asset
management business is a manager of debt and equity investments in
private companies and commercial loan obligations. American Capital
provides senior debt, mezzanine debt and equity to fund growth,
acquisitions, recapitalizations and securitizations. American Capital
invests up to US$300 million per company.

ABOUT ABN AMRO CAPITAL

ABN AMRO Capital is the global private equity business of ABN
AMRO, with teams operating in seven countries worldwide including the
Netherlands, UK, France, Spain, Italy, Sweden and Australia. Total
funds under management by ABN AMRO Capital are euro 2.7 billion, of
which euro 250 million of capital are provided by international
investors in ABN AMRO Capital managed funds in the UK and France. In
2005, ABN AMRO Capital led 13 buyouts for a global value of euro 2.6
billion (euro 634 million in equity investments) as well as 12 exits.

In France in the last 12 months, the team has completed 3
transactions: Bel'm, a doors manufacturer; Bonna Sabla-Consolis, a
manufacturer of pre-fabricated concrete products; and Nutrition &
Sante, a manufacturer dietary food products. Moreover, ABN AMRO
Capital France has actively supported its portfolio companies in
build-ups, such as Score Groupe's, a provider of outsourced canteen
management services, acquisition of Amphytrion and GM Restauration.

ABOUT ASTORG PARTNERS

Astorg Partners is an independent fund management company, owned
by its four founding partners, which specializes in French mid-market
buyouts. It currently manages approximately euro 500 million of
capital. Astorg Partners seeks to partner with successful and
entrepreneurial management teams and acquire businesses with
attractive growth prospects, which Astorg will support through
experienced advice and adequate capital. Astorg Partners focuses its
investment strategy on small to mid-cap enterprises, investing
between EUR15 million and euro 90 million per transaction in
companies with revenues generally between euro 30 million and euro
300 million. Although clearly a multi-sector investor, Astorg
Partners has particular industry expertise in retail, healthcare and
professional services. Astorg Partners closed 48 transactions over
the last fifteen years.

This press release contains forward-looking statements. The
statements regarding expected results of American Capital Strategies
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 American Capital has
made investments.

Web site: http://www.americancapital.com
http://www.EuropeanCapital.com

ots Originaltext: European Capital, S.A.
Im Internet recherchierbar: http://www.presseportal.de

Contact:
Jean Eichenlaub, Managing Director, +33(0)1-40-68-06-66, or Stephane
Legrand, Vice President, +33(0)1-40-68-06-66, both of European
Capital Services, or Brian Maney, Director, Corporate Communications
of American Capital Strategies Ltd., +1-301-951-6122