American Capital Holdings Inc. Acquires Public Company

Business Wire, Nov 26, 2002

Business Editors

SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Nov. 26, 2002

American Capital Holdings Inc. (OTC: ACPH) today announced the acquisition of SWUNG Inc. (OTC: SWGI), a Nevada public company. American Capital Holdings begins trading today under the company's new symbol ACPH.

As part of the company's reorganization, the common shares have effected a reverse split in the ratio of 100-1. This structure will now facilitate a significant change in the company's stock price and allow for the acquisition of more commercial real estate properties using cash and stock.

The company, whose corporate headquarters are based in Scottsdale, also announced the appointment of a new board of directors who have collectively been involved in over $1 billion in commercial real estate transactions over several years.

ACPH further announced the opening of escrow on a commercial property acquisition, of a 30,000-square-foot, two-story office building on 1.7 acres in Memphis, Tenn. The purchase will be completed using a combination of cash and stock. The company further intends to acquire several more commercial real estate assets by accessing its vast network of financial and corporate divestiture departments, using stock and cash to purchase undervalued retail and office buildings. The business plan has provision to refurbish and lease the properties to commercial organizations with a view to an eventual sale at a significant profit.

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