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|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | February 15,2008 |  |                                                                                                   
|Barney A. Richmond
Chairman
.
American Capital
Holdings
1016 Clemmons Street,
#302
Jupiter,FL 33477-3305

Dear Mr. Richmond:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                  |  |                                                                                                   
|Your recent letters to
Chairman Mark W,Olson and
Angela Desmond (dated December 17, 2007,
January 1,2008, and
January 2, 2008) concerning American Capital Holdings
("ACH") and Wieseneck,Andres
&Company,P.A.
("Wieseneck")  have been forwarded to
my attention. I write to respond to one aspect of your letters, I understand that Gordon
Seymour, the PCAOB's General Counsel,will separately respond to another
aspect of your letters.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                  |  |                                                                                                   
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|You refer to potential
PCAOB disciplinary action against Wieseneck,and,in connection with that
point,
you say that you would
like to meet with PCAOB staff
to discuss aspects of
ACH's accounting, PCAOB disciplinary investigations are nonpublic by law,and the staff
does not disclose,confirm, or
deny the existence of particular investigations unless
and until they result in a public disciplinary order. In investigating potential auditor
misconduct,the staff
evaluates evidence
gathered from various sources including,where
appropriate,evidence obtained from an auditor's clients.In the event that your
letters are relevant to issues that we are addressing in any investigation, we will
take them into account, and
WIwill
follow up to the extent we believe appropriate.
While we appreciate your offer to meet and to provide additional documents, we do not
at this time see a need for eithdr of those things. If this changes,
we will contact you. |                  |  |                                                                                                   
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Sincerely,





Claudius Modesti

Director