Yes but it’s available with a little trick 🙂
If you try to save a website as a template, you’ll find out that there is no link to it in administration mode (web site settings). You must change the following in the URL and it will be available:
Change from this URL:
http://mywebsite/sitedirectory/minsubsite/default.aspx
To this URL:
http://mywebsite/sitedirectory/minsubsite/_layouts/savetmpl.aspx
and you may save your website as a template!
