Exhibit 99.1
TICC ANNOUNCES $20 MILLION TRANSACTION WITH GENUTEC BUSINESS SOLUTIONS, INC.
Greenwich, CT - 09/20/2005 - Technology Investment Capital Corp. (Nasdaq: TICC)
announced today that it has completed a $20 million investment in preferred
stock with warrants issued by GenuTec Business Solutions, Inc., a provider of
interactive voice messaging services to businesses for marketing and
notification purposes. The preferred stock TICC received in connection with its
investment in GenuTec may be exchanged, at TICC's option, for senior secured
notes issued by GenuTec.
ABOUT GENUTEC BUSINESS SOLUTIONS, INC.
GenuTec was founded to provide communications solutions to enhance sales,
marketing and customer care for businesses. Since its inception, GenuTec has
focused on delivering customized communications tools to businesses. These tools
are designed to complement existing technologies, without requiring additional
expenditure by customers for specialized hardware or software. To learn more
about GenuTec, please visit its web site at www.genutec.com.
ABOUT TECHNOLOGY INVESTMENT CAPITAL CORP.
We are a publicly traded business development company principally engaged in
providing capital to small to mid-size technology-related companies. While the
structures of our financings vary, we look to invest primarily in the debt and
equity of established technology-related businesses. Companies interested in
learning more about financing opportunities should contact Barry Osherow at
(203) 661-9572 or visit our website at www.ticc.com.
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements subject to the inherent
uncertainties in predicting future results and conditions. Any statements that
are not statements of historical fact (including statements containing the words
"believes," "plans," "anticipates," "expects," "estimates" and similar
expressions) should also be considered to be forward-looking statements. Certain
factors could cause actual results and conditions to differ materially from
those projected in these forward-looking statements. These factors are
identified from time to time in our filings with the Securities and Exchange
Commission. We undertake no obligation to update such statements to reflect
subsequent events.
