?10 Million Repayment from Devglass

    RNS Number : 4388K
  European Capital Limited
  18 December 2008
   

    First Floor, Dorey Court
Admiral Park 
St. Peter Port, Guernsey GY1 4AF





    18 December 2008

    Contact: European Capital Financial Services Limited Tel: + 33 1 40 68 06 66

    St?ane Legrand, Director
    Olivia Reveilliez, Manager
    Marie Bal, Communication Manager
               

    EUROPEAN CAPITAL RECEIVES EUR10 MILLION REPAYMENT
    FROM GROUP DEVGLASS

    St. Peter Port, Guernsey - 18 December 2008 - European Capital Limited and its subsidiaries (LSE: ECAS) ("European Capital") announced
today that they have received a repayment of EUR10 million of junior mezzanine bonds from Newglass, parent company of portfolio company
Devglass, the leading independent French manufacturer and distributor of dual-pane insulated glass for windows.

    "We are very happy with our investment in Devglass and our working relationship with the company's highly experienced management team,"
said St?ane Legrand, Director, European Capital Financial Services Limited ("European Capital Services").  "Devglass has grown by 20% in
2008, in line with its average annual growth rate over the past five years.  The group also increased its staff by more than 50 employees
during the year."

    "Devglass benefits from the development of the regulatory framework and the strengthening of government incentives aimed at reducing
energy consumption," said Olivia Reveilliez, Manager, European Capital Services.  "In addition, Devglass has continued to increase its
market share due to its highly customer oriented business model."

    "Following substantial business plan outperformance, Devglass is able to reduce its financing cost and accelerate its development," said
Olivier Rambeau, Chairman of Devglass.  "In 2009, the group will pursue domestic development through organic growth, as well as
acquisitions."

    European Capital has invested over EUR1 billion ($1.4 billion) in France and EUR3.3 billion ($4.1 billion) in Europe since its
inception.

    For more information about European Capital's portfolio, please go to www.europeancapital.com


    ABOUT EUROPEAN CAPITAL
    European Capital is a publicly traded investment company for pan-European equity, mezzanine and senior debt investments with current
capital resources of approximately EUR2.7 billion ($3.7 billion). It is managed by European Capital Financial Services (Guernsey) Limited
("ECFSG" or the "Investment Manager"), a wholly-owned affiliate of American Capital, Ltd.

    European Capital invests in and sponsors management and employee buyouts, invests in private equity buyouts and provides capital
directly to private and public companies headquartered primarily in Europe.  European Capital generally invests between EUR5 million and
EUR500 million per transaction in equity, mezzanine debt and senior debt to fund growth, acquisitions and recapitalisations.

    The investment objective of European Capital is to provide investors with dividend income and the potential for share value appreciation
by investing in debt and equity investments in private and public companies headquartered primarily in Europe.

    European Capital seeks to achieve this through pursuing the following types of investments:

    European Capital One Stop Buyouts*
    Through our One Stop Buyouts*, European Capital provides equity, mezzanine debt and senior debt as the lead investor in the buyout of
private and public companies.

    Mezzanine Direct with Sponsors
    European Capital provides one stop financing of subordinated debt and equity financing for buyouts sponsored by private equity firms
where European Capital is either the sole or lead mezzanine debt investor.

    Syndicated Mezzanine and Senior Debt
    European Capital provides mezzanine financing for buyouts sponsored by private equity firms where European Capital is neither the sole
nor lead mezzanine or senior debt investor.

    Direct Investments
    European Capital provides debt and equity financing directly to private and public companies, which is used for growth, acquisitions or
recapitalisations, and investing in structured finance vehicles.

    ABOUT AMERICAN CAPITAL
    American Capital, with $17 billion in capital resources under management, is the only private equity fund and the largest alternative
asset management company in the S&P 500.  American Capital, both directly and through its global asset management business, originates,
underwrites and manages investments in private equity, leveraged finance, real estate and structured products.  American Capital and its
affiliates invest from $5 million to $800 million per company in North America and EUR5 million to EUR500 million per company in Europe. 
American Capital was founded in 1986 and currently has 11 offices in the U.S., Europe and Asia.

    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.









This information is provided by RNS
The company news service from the London Stock Exchange
 
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