Bethesda, MD - July 3, 2002 - American Capital Strategies Ltd. (Nasdaq:ACAS) announced today that Eugene L. Podsiadlo has resigned as a member of the company's Board of Directors. Mr. Podsiadlo is in the process of developing a new retail investment company product for individual investors to which he will devote his full business time and attention.
"It's been a privilege to be a member of the American Capital Board of Directors," said Mr. Podsiadlo. "I'm going to miss being involved with American Capital's middle market financing business. Unfortunately, the lead venture investor for my new product has asked that I resign from all company boards so that I can focus on the final product development."
"American Capital's Board will miss Gene's contributions," said American Capital Chairman, President and CEO Malon Wilkus. "We wish him well in raising capital for his new venture in today's difficult environment where demands for performance are greater than ever before. We're certain that Gene will have great success in his future endeavors."
American Capital is a publicly traded buyout and mezzanine fund with capital resources exceeding $1 billion. American Capital is an equity partner in management and employee buyouts; invests in debt and equity of companies led by private equity firms, and provides capital directly to private and small public companies. American Capital funds growth, acquisitions and recapitalizations. The Company has paid $8.98 per share in dividends since going public in 1997.
Companies interested in learning more about American Capital's flexible financing and ability to provide senior debt, subordinated debt and equity should contact Mark Opel, Principal, at (800) 248-9340, or visit our website.
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 or national economic conditions, or changes in the conditions of the industries in which American Capital has made investments.
