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American Capital Invests $71 Million in Buyout of Leading Manufacturer, Marketer and Distributor of Expandable Polystyerene Foam Products

Bethesda, MD – June 17, 2004 – American Capital Strategies Ltd. (Nasdaq:ACAS) announced today it has invested $71 million in the acquisition of Life-Like Products LLC from ZS Fund LP. Life-Like is a leading manufacturer, marketer and distributor of expanded polystyrene foam ("EPS") consumer and industrial products and a marketer and distributor of hobby trains, train sets and racecars. American Capital's investment takes the form of senior term loans, senior subordinated debt, junior subordinated debt with warrants and common and redeemable preferred equity. American Capital is also providing a revolving credit facility. American Capital owns approximately 80% of Life-Like on a fully diluted basis. [more...]