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American Capital Invests $32 Million in Leading Designer, Importer and Distributor of Accent Furniture

Bethesda, MD - October 31, 2005 - American Capital Strategies Ltd. (Nasdaq:ACAS) announced today it has invested $32 million in the debt refinancing of Stein World LLC, a leading designer, importer and distributor of residential accent furniture and portable lighting. American Capital's investment takes the form of a senior term B loan and senior and junior subordinated debt. GE Antares Capital, a unit of GE Commercial Finance, and Dymas Capital Management are investing in a senior term A loan and are also providing a revolving credit facility. Goense Bounds & Partners, New York Life Insurance Company, Stein World management and private investors are currently invested in the equity. Goense Bounds is the majority equity investor. More...

Stein World Gets Accents Right

Stein World LLC, a leading designer, importer and distributor of residential accent furniture and portable lighting, was started 18 years ago on Harve Stein's observation of an untapped market for quality, imported, accent furniture sold at prices below those of nationally branded manufacturers. Early on, the company focused on wicker and rattan furniture from the Philippines and wooden chairs from Italy. After Harve Stein's son, Andy, purchased the company in 1999, he focused exclusively on importing from China. Since then, the company has grown to source from several vendors in China while maintaining a local Chinese office. Stein World also operates distribution warehouse facilities at its headquarters in Memphis, Tennessee. A line of portable lighting fixtures was added in 2005. More...