Two of the investments, totaling euro 43 million ($51 million), were
implemented by the London office of European Capital Financial Services
Limited ("European Capital Services"), the sub-investment manager of European
Capital .
"We are delighted with the tremendous progress European Capital has made
in the European middle market and excited about the strong pipeline of
investment opportunities we have moving forward .com.

advanta sunamerica

LVP has already made three investments in LVP III and expects to
continue to make three to four additional investments per year.

buyouts ventures

The statements
regarding expected results of 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 American Capital has made
investments. LVP invested $3. "The fund will be invested in software, communications and
semiconductor companies that share the key characteristics we seek in
new investments: defensible and differentiated technology, evangelical
customers, capital -efficient business models, experienced management
teams, and markets at the inflection point for demand acceleration,"
he added. LVP's investments include: Atheros, BigFix,
BroadLogic, Commerce One, Informative, KnowNow, Radiance Technologies,
Rapt, Reconnex, Ubicom, and Veraz Networks.

advanta scf

wfd consolidations

SICAR ("European
Capital") announced today it has invested approximately euro 121 million ($144
million ) in 6 companies year to date, totaling 15 companies since its
formation in August 2005.
European Capital has invested euro 301 million ($359 million) in 15
companies since its formation in August of 2005.

millichap wfd

V.5 million
in Alma Consulting Group, a French provider of tax recovery and cost reduction
services for companies, to support Apax Partners' acquisition.

The industry focus may be, for example , retail, Internet, or life sciences.

ventures recapitalization

European
Capital Services' Paris office implemented four transactions totaling euro 78
million ($93 million): euro 13 million in Poliris, a French online publisher
of real estate housing listings for real estate agencies, to support 3i's
acquisition; euro 14 million in Tokheim SAS, a European supplier of retail
fuel systems, to support Electra Partners Europe's acquisition; an undisclosed
amount in the One Stop Buyout(TM) of Action Sport Holding, a distributor of
motorcycle and bicycle gear and accessories in France; and euro 22.P.

About Levensohn Venture Partners

Levensohn Venture Partners is an early commercialization stage
venture capital investor .

ventures pacesetter

Consistent with the firm's nine-year history, Levensohn Venture
Partners III, L.

ventures seapoint

The London office's investments included euro 19 million in Partners
in Lighting International N. In addition ,
these transactions could not have been executed without our experienced and
dedicated team of investment professionals in our European offices,
accompanied by the backing of American Capital 's corporate infrastructure.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.

ABOUT AMERICAN CAPITAL
American Capital (Nasdaq: ACAS) is a publicly traded buyout and mezzanine
fund with capital resources of approximately $7 billion.

microtechnology imin

"We will be following Levensohn Venture Partners' highly selective
and successful strategy of early-commercialization stage investing as
we move forward with our investments in LVP III," said Pascal
Levensohn.

1m 100mm

, a European manufacturer of lighting fixtures
for consumer and commercial environments, to support CVC Capital Partners'
recapitalization , and euro 24 million in TSL Education Ltd.EuropeanCapital.

This press release contains forward -looking statements. will be invested in information technology
companies that have reached early commercialization of their product
and are experiencing an acceleration of revenues.5 million in Reconnex in March 2005 as
part of the company's Series B financing round.

longworth rwi

European Capital Invests Euro 121 Million in Buyout and Mezzanine Transactions

pacrim invests

The close of Levensohn Venture
Partners III brings LVP's total current committed capital in two
active funds to $164 million.

sunamerica 100mm

1 billion ( $1.
LVP's most recent investment, which closed this month, was
Reconnex, an electronic risk management company that helps companies
guard against information disclosures originating within their
organization . LVP Managing Director
Pascal Levensohn has joined their board of directors.

1m pacesetter

For more information about
European Capital's portfolio, go to http://www.com.EuropeanCapital. 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.

seapoint microtechnology

Business Editors

SAN FRANCISCO----Levensohn Venture
Partners (LVP) today announced the close of its third venture capital
fund, which will focus on early-commercialization stage investments in
information technology companies.

leveraged pacesetter

LUXEMBOURG, European Capital Limited
and its wholly owned subsidiary European Capital S., a provider of
classified advertising for job vacancies in UK schools, colleges and
universities, to support Exponent Private Equity's acquisition.
"European Capital's success results from our ability to provide senior debt,
mezzanine debt and equity and complete One Stop Buyouts(TM)."

ABOUT EUROPEAN CAPITAL
European Capital is a buyout and mezzanine fund with capital resources of
euro 1. American Capital provides senior debt, mezzanine debt and
equity to fund growth, acquisitions, recapitalizations and securitizations.
American Capital invests up to $300 million per transaction.

Levensohn Venture Partners Closes Third Venture Capital Fund; Reconnex Investment is Third Portfolio Company in LVP III

pacrim ventures

A. Of the six companies invested in 2006, five are
majority owned by private equity sponsors including 3i, Apax Partners, CVC
Capital Partners Limited, Electra Partners Europe and Exponent Private Equity. Founded in 1996, LVP invests in emerging
technology leaders in enterprise software, communications and
semiconductors.

scf eakin

primedia pacesetter

The Reconnex
board includes Matt Howard of Norwest Venture Partners, Randy Haykin
of Outlook Ventures , Ed Kozel, the former CTO of Cisco Systems, and
Mike West, Chairman of the board of Extreme Networks .
In addition to Pascal Levensohn, LVP's seasoned team of investment
professionals includes Managing Directors Keith Benjamin and Kip
Sheeline and Principals Jeff Karras and Steve Reale.

Industry focus venture capitalists specialize in providing investments to start-up or early-stage companies in major industries without regard for the exact location of a company.

davitt consolidations

Since the start of 2006, the
London office has already arranged two mezzanine investments and the Paris
office has completed a One Stop Buyout(TM) and arranged three mezzanine
investments," said Ira Wagner, President of European Capital Services.

1m wfd

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,
Simon Henderson at or Nathalie Faure Beaulieu at + 44 (0)207 539 7000 in
London, or visit the website at http://www.

pacrim turnarounds

levp.

millichap pacesetter

LVP III's other portfolio companies are Ubicom, a fabless
semiconductor company developing communications processor and software
platforms for home and small office environments, and Radiance
Technologies , which has developed software that optimizes the flow of
large-file, mission-critical digital assets via a set of
patent-pending "Digital Logistics" algorithms. Focusing on building companies as they
transition from research and development through initial revenues, LVP
works in partnership with its portfolio companies to ensure they grow
into successful businesses. For more information,
visit www.com

millichap 1m

Committed capital to
LVP III totals $60 million.