Exhibit 99.1

Hercules Technology Growth Capital Announces the First Distribution of
 Realized Capital Gains of More than $3 Million Representing Approximately
               $0.10 per Share to be Distributed in 2008


    PALO ALTO, Calif.--(BUSINESS WIRE)--Dec. 27, 2007--Hercules
Technology Growth Capital, Inc. (NASDAQ:HTGC), the premier specialty
finance company providing venture debt and equity to venture capital
and private equity backed technology and life science companies at all
stages of development, today announced that the Company anticipates
that it will have approximately $3.2 million to $3.4 million of
realized long-term capital gains in 2007 from its warrant and equity
investments. The Company intends to elect to pay the 4% excise tax so
that it can spillover the capital gains for distribution to its
shareholders in 2008. These distributions represent a return of
approximately $0.10 per share to its shareholders based on the current
shares outstanding.

    About Hercules Technology Growth Capital, Inc.:

    Hercules Technology Growth Capital, Inc. is a NASDAQ traded
specialty finance company providing debt and equity growth capital to
technology and life science companies at all stages of development.
Founded in December 2003, the company primarily finances privately
held companies backed by leading venture capital and private equity
firms. Hercules invests in a broad range of ventures active in
technology and life science industries and offers a full suite of
growth capital products up and down the capital structure. The company
is headquartered in Palo Alto, Calif. and has additional offices in
the Boston, Boulder, Los Angeles and Chicago areas. Providing capital
to publicly-traded or privately-held companies backed by leading
venture capital and private equity firms involves a high degree of
credit risk and may result in potential losses of capital. For more
information, please visit www.HTGC.com.

    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 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 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.

    CONTACT: Hercules Technology Growth Capital, Inc.
             Main, 650-289-3060 HT-HN
             info@htgc.com
             Sally Borg, 650-289-3066
             sborg@htgc.com