[September 11, 2012]

Hercules Technology Growth Capital Announces Quarter-to-Date Q3 2012 Portfolio Update with New Originations of over $93.0 million

Hercules Technology Growth Capital, Inc. (NYSE: HTGC), the leading specialty finance company providing senior secured loans to venture capital companies in technology-related markets at all stages of development, including technology, biotechnology, life science, and clean-tech industries, today announced its quarter-to-date Q3 2012 portfolio update.

New Originations Quarter-to-Date:

As of September 10, 2012, in the third quarter of 2012, Hercules has originated commitments of over $93.0 million to new and existing portfolio companies.

Hercules' new investment commitments include:

• $15.0 million commitment to Coronado Biosciences, Inc., (Nasdaq: CND) a company focused on the development of novel immunotherapy agents for the treatment of autoimmune diseases and cancer.
• $30.5 million commitment to EducationDynamics, higher education's leading marketing information and technology services company dedicated to helping institutions find, enroll and retain students.
• $3.0 million commitment to EndPlay, Inc., a leading provider of SaaS (News - Alert) content management, engagement and monetization solutions delivered in the cloud.
• $20.0 million commitment to Fulcrum BioEnergy, Inc., a leader in the development of next-generation ethanol production in the United States.

In addition, Hercules provided over $25.0 million in commitments to existing portfolio companies.

Principal Repayments:

As of September 10, 2012, Hercules received approximately $40.0 million in principal repayments, of which approximately $7.6 million were unscheduled early repayments.

In addition, in July Hercules received payment of $2.0 million for its total debt investments in MaxVision Holding, L.L.C. As of June 30, 2012 Hercules valued these debt investments, which had a total cost basis of approximately $7.1 million at a fair value of approximately $169,000. These investments were accounted for on a non-accrual basis. In the third quarter of 2012, Hercules will record a realized loss of $5.1 million and a reversal of previously recorded unrealized depreciation of $6.9 million for the MaxVision debt investments.

As of September 11, 2012, Hercules received approximately $40.0 million in principal repayments, of which approximately $5.6 million were unschduled early repayments. In addition, in July Hercules received payment of $2.0 million for its total debt investments in MaxVision Holding, L.L.C. As of June 30, 2012 Hercules valued these debt investments, which had a total cost basis of approximately $7.1 million at a fair value of approximately $169,000. These investments were accounted for on a non-accrual basis. In the third quarter of 2012, Hercules will record a realized loss of $5.1 million and a reversal of previously recorded unrealized depreciation of $6.9 million for the MaxVision debt investments.

Unfunded Commitments - Future Portfolio Growth Potential:

As of September 10, 2012, Hercules had unfunded debt commitments of approximately $69.8 million. Since these commitments may expire without being drawn upon, unfunded commitments do not necessarily represent future cash requirements or future earning assets for Hercules. Approximately $35.0 million of these unfunded commitments are dependent upon the portfolio company reaching certain milestones before the Hercules debt commitment would become available.

Signed Term Sheets - Additional Future Portfolio Growth Potential:

As of September 10, 2012, Hercules has approximately $141.5 million of signed non-binding term sheets subject to completion of definitive documentation with prospective portfolio companies, which generally convert to contractual commitments within approximately 45 to 60 days. Non-binding term sheets are subject to completion of Hercules' due diligence, investment committee approval, legal review, and negotiation of definitive documentation. It is important to note not all signed non-binding term sheets are expected to close and do not necessarily represent any future cash requirements.

Portfolio Company Liquidity Events:

Filed IPOs:

As of September 10, 2012, Hercules had warrant positions in over 115 different technology-related companies, three of which have filed Form S-1 Registration Statements in contemplation of a potential IPO:

• Glori Energy, Inc.
• iWatt, Inc.
• Trulia

There can be no assurances that these companies will complete their IPOs in a timely manner or at all.

NYSE Bell Ringing:

On Friday, September 14, 2012 executives and guests of Hercules will visit the New York Stock Exchange (NYSE) and Manuel A. Henriquez will ring the NYSE Opening Bell. Hercules is celebrating the transfer of its stock listing to the NYSE from NASDAQ and the company began trading on the NYSE on April 30, 2012 under the ticker symbol "HTGC." In addition, the Company's 7.00% Senior Notes due 2019 trade on the NYSE under the symbol "HTGZ."

About Hercules Technology Growth Capital, Inc.:

Hercules Technology Growth Capital (NYSE: HTGC), is a leading specialty finance firm providing loans to technology-related companies at all stages of development including technology, life science, and clean-tech industries. Since inception, Hercules has committed more than $2.9 billion to over 211 companies and is the lender of choice for entrepreneurs and venture capital firms seeking growth capital financing Hercules common stock trades on the New York Stock Exchange ("NYSE") under the ticker symbol "HTGC."

In addition, the Company's 7.00% Senior Notes due 2019 trade on the NYSE under the symbol "HTGZ."

Companies interested in learning more about financing opportunities should contact info@htgc.com, or call 650.289.3060.

Forward-Looking Statements:

The statements contained in this release that are not purely historical are forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to uncertainties and other factors that could cause actual results to differ materially from those expressed in the forward-looking statements including, without limitation, the risks, uncertainties, including the uncertainties surrounding the current market turbulence, and other factors we identify from time to time in our filings with the Securities and Exchange Commission. Although we believe that the assumptions on which these forward-looking statements are based are reasonable, any of those assumptions could prove to be inaccurate and, as a result, the forward-looking statements based on those assumptions also could be incorrect. You should not place undue reliance on these forward-looking statements. The forward-looking statements contained in this release are made as of the date hereof, and Hercules assumes no obligation to update the forward-looking statements for subsequent events.

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