American Capital Strategies Ltd.

American Capital Strategies Ltd. is listed on NASDAQ (ACAS). American Capital Strategies, Ltd. (which is referred throughout this report as American Capital, we and us) is a publicly traded buyout and mezzanine fund that provides investment capital to middle market companies, which we generally consider to be companies with sales between $10 million and $750 million. We invest in senior and mezzanine (subordinated) debt and equity of companies in need of capital for buyouts, growth, acquisitions and recapitalizations. Our ability to fund the entire capital structure is an advantage in completing many middle market transactions. Our wholly-owned operating subsidiary, American Capital Financial Services, Inc., or ACFS, provides financial advisory services to our portfolio companies. We invested on average $38 million in 2004 in each new portfolio company. We generally have not invested more than 5% of our equity capital in one transaction. Our largest investment as of December 31, 2004 has been $83 million.

American Claims Evaluation Inc.

American Claims Evaluation Inc. is listed on NASDAQ (AMCE). American Claims Evaluation, Inc. was incorporated in the State of New York and commenced operations in April 1982. The Company provides a full range of vocational rehabilitation and disability management services designed to maximize injured workers abilities in order to reintegrate them into their respective communities through its wholly owned subsidiary, RPM Rehabilitation & Associates, Inc. (RPM). The functional capabilities of the injured workers referred to the Company vary. Comprehensive, in-house vocational evaluations are utilized to assess aptitudes, interests, values and abilities. Issues of medical restrictions, functional overlays, illiteracy and occupational diseases are assessed and factored into the development of a rehabilitation strategy. Specifically, in working with injured workers, the purpose and intent are to bring the injured worker back to work with the employer of injury as soon as medically feasible.

ATRION Corporation ..ufactures, sells and distributes products and components, primarily for the medical and health care industry. The Companys products range from ophthal..

American Vanguard Corporation ..er the laws of the State of Delaware in January 1969 and operates as a holding company. Unless the context otherwise requires, references to the Compa..

AXT Inc ..h-performance compound and single element semiconductor substrates comprising gallium arsenide (GaAs), indium phosphide (InP) and germanium (Ge). Our ..

Boston Communications Group Inc. ..porated in Massachusetts in 1988 and provides innovative products and services to enable advanced voice and data services for wireless operators, incl..

Brown-Forman Corporation ..s incorporated under the laws of the State of Delaware in 1933, successor to a business founded in 1870 as a partnership and subsequently incorporated..

Bioject Medical Technologies Inc. ..-free injection systems that improve the way patients take medications and vaccines. Our long-term goal is to become the leading supplier of needle-fr..

Big Lots Inc. ..a Delaware corporation (Consolidated (Delaware)), was merged (the Merger) with and into Big Lots, Inc., an Ohio corporation and a wholly owned subsidi..

Biomed Realty Trust ..ny refer to BioMed Realty Trust, Inc., a Maryland corporation and any of our subsidiaries, including BioMed Realty, L.P., a Maryland limited partnersh..

Biopure Corporation ..new class of pharmaceuticals that are administered intravenously to transport oxygen to the body's tissues. Using our patented and proprietary technol..

Blyth Inc. ..ompany, which may be referred to as we, us or our) is a Home Expressions company competing primarily in the home fragrance and decorative accessories ..

Capital Bank Corporation ..ompany incorporated under the laws of North Carolina on August 10, 1998. The Companys primary function is to serve as the holding company for its whol..

Catapult Communicatons Corporation .. the Company or the Registrant) designs, develops, manufactures, markets and supports advanced software-based test systems for the global telecommunic..

Chromcraft Revington Inc. .. incorporated in 1992 under the laws of Delaware, is engaged in the design, manufacture and sale of residential and commercial furniture through its w..

Community Financial Corp. ..irginia corporation, which owns Community Bank (the Bank or Community Bank). The Bank was organized in 1928 as a Virginia-chartered building and loan ..

China Eastern Airlines Corporation Ltd. ..ny was established on April 14, 1995 under the laws of China as a company limited by shares in connection with the restructuring of our predecessor an..

Cascade Natural Gas Corporation ..rporated under the laws of the state of Washington on January 2, 1953. Its principal business is the distribution of natural gas to customers in the s..

Church & Dwight Company Inc. ..road range of consumer and specialty products. It sells its products, primarily under the ARM & HAMMER and TROJAN brand names, to consumers through su..

Claires Stores Inc. ..d fashion accessories for pre-teens and teenagers as well as young adults. We are organized based on our geographic markets, which include our North A..

COMARCO Inc. ..less Technologies, Inc. (collectively, we, Comarco,), is a leading provider of wireless test solutions for the wireless industry. Comarco also designs..

ConAgra Foods Inc. ..ackaged food company serving a wide variety of food customers. Over time, the company, which was first incorporated in 1919, has grown through acquisi..

Coley Pharmaceutical Group Inc. ..overing and developing a novel class of drug candidates for cancers, infectious diseases and respiratory disorders. Our proprietary TLR TherapeuticsT ..

Craftmade International Inc. ..the state of Texas in July 1985, reincorporated in the state of Delaware in December 1991, and is organized into two operating segments: Craftmade Int..

Clifton Savings Bancorp Inc. ..ederal corporation at the direction of Clifton Savings Bank, S.L.A. in connection with the mutual holding company reorganization of Clifton Savings. T..

Cholestech Corporation ..information for immediate risk assessment and therapeutic monitoring of heart disease and diabetes. We currently manufacture the LDX® System (the LDX ..

Cubic Corporation .. State of California in 1949 and began operations in 1951. In 1984, the Company moved its corporate domicile to the State of Delaware. We design, deve..

Converium Holding AG ..nd on June 19, 2001 as a joint stock company as defined in article 620 et seq. of the Swiss Code of Obligations. We were registered on June 21, 2001 i..

Cypress Bioscience Inc. .. in providing products for the treatment of patients with Functional Somatic Syndromes and other central nervous system disorders. Functional Somatic ..

Devon Energy Corporation ..es, (Devon) is an independent energy company engaged primarily in oil and gas exploration, development and production, the acquisition of producing pr..

Washington Mutual Inc. ..ual, Inc. (together with its subsidiaries, Washington Mutual,) is a retailer of financial services to consumers and small businesses. Based on our con..

DOV Pharmaceutical Inc. ..discovery, in-licensing, development and commercialization of novel drug candidates for central nervous system, or CNS, and other disorders, including..

DRS Technologies Inc. ..RS, we, our and us are to DRS Technologies, Inc. and its subsidiaries. GENERAL DRS Technologies is a leading supplier of defense electronics products ..

Dillards Inc. ..rant) is an outgrowth of a department store originally founded in 1938 by William Dillard. The Company was incorporated in Delaware in 1964. The Compa..

Brinker International Inc. ..d in the ownership, operation, development and franchising of the Chilis Grill & Bar (Chilis), Romanos Macaroni Grill (Macaroni Grill), Maggianos Litt..

EuroTrust A-S ..rganized in 1986 under the Danish Act on Limited Companies of the Kingdom of Denmark. Originally, we were organized under the name Telepartner A-S. In..

Eltek Ltd. ..f Israel on January 1, 1970. We are a public limited liability company under the Israeli Companies Law 5759-1999 and operate under this law and associ..

Entercom Communications Corporation ..nies in the United States based on revenues. We operate in 20 markets, including Boston, Seattle, Denver, Portland, Sacramento, Kansas City, Indianapo..

Epoch Holding Corporation ..pany whose primary line of business is investment management and investment advisory services. The operations of the Company are conducted through its..

Escalon Medical Corp. ..corporation initially incorporated in California in 1987, and reincorporated in Pennsylvania in November 2001. Within this document, the Company colle..

Excel Maritime Carriers Ltd. ..a shipping company specializing in the world-wide seaborne transportation of dry bulk cargoes. We were incorporated under the laws of the Republic of ..

First Community Bank Corporation of America (FL) ..as defined by Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements invol..

FedFirst Financial Corporation ..tered savings and loan holding company established in 1999 to be the holding company for First Federal Savings Bank, a federally chartered savings ban..

Fleetwood Enterprises Inc. ..ing both recreational vehicles and manufactured housing. In fiscal 2005, we sold 50,746 recreational vehicles. In calendar 2004, we held a 15.3 percen..

Flextronics International Ltd. ..manufacturing services (EMS) to original equipment manufacturers (OEMs) in the following industries: . handheld devices, with products such as cellula..

First National Lincoln Corporation ..ed under the general business laws of the State of Maine on January 15, 1985, for the purpose of becoming the parent holding company of The First Nati..

Fidelity Bankshares Inc. ..n which, on May 15, 2001, became the holding company parent of Fidelity Federal Bank & Trust, following the completion of the second step mutual-to-st..

Forward Air Corporation .. transportation and related logistics services to the North American deferred air freight market. We offer our customers scheduled surface transportat..

Global Imaging Systems Inc. ..this annual report, the terms Global, Company, our, or we refer to Global Imaging Systems, Inc. and its subsidiaries. General We are one of the leadin..

General Motors Corporation ..y reference to the indicated pages in Part II: Item Page(s) Wholesale Volumes II-6 through II-9 Employment and Payrolls II-16 Note 24 to the GM Consol..

Gold Fields Ltd. .. of gold and major holder of gold reserves in South Africa, Ghana and Australia. Gold Fields is primarily involved in underground and surface gold min..

Gander Mountain Company ..ailer offering a broad assortment of competitively priced merchandise that caters to the needs of outdoor lifestyle enthusiasts, with a particular foc..

SANTANDER BANCORP ..olding company, registered under the Bank Holding Company Act of 1956, as amended and, accordingly, subject to the supervision and regulation by the F..

Great Southern Bancorp Inc. ..is a financial holding company which, as of December 31, 2003, owned directly all of the stock of Great Southern Bank (Great Southern or the Bank) and..

Hanover Compressor Company .., together with its subsidiaries, is a global market leader in the full service natural gas compression business and is also a leading provider of ser..

Double Eagle Petroleum Company ..Wyoming Corporation on January 13, 1972, and reincorporated in February 2001 in the State of Maryland, explores for, develops, produces and sells crud..

HON INDUSTRIES Inc. ..ed in 1944. The Company is a provider of office furniture and hearth products. Approximately 75% of fiscal year 2004 net sales were in office furnitur..

Home Federal Bancorp Inc. ..rally chartered stock corporation at the direction of Home Federal Savings and Loan Association of Nampa (Association) in connection with its mutual h..

Hungarian Telephone & Cable Corp. ..ed in Delaware in 1992 as a holding company with the intention of acquiring concessions from the government of the Republic of Hungary to own and oper..

Ibis Technology Corporation .. within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that relate to future events or our future f..

IDM Pharma Inc. ..rein, the following discussion contains forward-looking statements that involve risks and uncertainties. These statements reflect management's current..

Immunomedics Inc. ..focused on the development of monoclonal antibody-based products for the targeted treatment of cancer, autoimmune and other serious diseases. We have ..

Incyte Corporation ..at involve risks and uncertainties. These statements relate to future periods, future events or our future operating or financial plans or performance..

Illinois Tool Works Inc. .. and incorporated in 1915. The Company is a worldwide manufacturer of highly engineered products and specialty systems. The Company has approximately ..

Essex Property Trust Inc. ..istered and self-managed equity real estate investment trust (REIT) engaged in the ownership, acquisition, development and management of multifamily a..

Lynch Corporation .. laws of the State of Indiana, is a diversified holding company with subsidiaries engaged in manufacturing. The Companys executive offices are located..

LIN TV Corp .. operator with stations located in the United States and Puerto Rico. At December 31, 2004, our stations covered approximately 8.1% of U.S. television..

Medicis Pharmaceutical Corporation ..its wholly owned subsidiaries is a leading specialty pharmaceutical company focusing primarily on helping patients attain a healthy and youthful appea..

Hersha Hospitality Trust ..d real estate investment trust that was organized in 1998 and completed its initial public offering in January of 1999. Our common shares are traded o..

MannKind Corporation ..annKind, we, company, us and our refer to MannKind Corporation and its subsidiary. Technospherc® and MedTone® are our registered trademark in the Unit..