Exhibit 99.1

          HERCULES ANNOUNCES SECOND QUARTER DIVIDEND OF $0.30 PER SHARE

    PALO ALTO, Calif., July 19 /PRNewswire-FirstCall/ -- Hercules Technology
Growth Capital, Inc. (Nasdaq: HTGC), a leading specialty finance company
providing venture capital and private equity backed technology and life science
companies with debt and equity growth capital, today announced that its Board of
Directors has declared a second quarter dividend of $0.30 per share. The
dividend will be payable on August 28, 2006 to shareholders of record as of July
31, 2006. The ex-dividend date is July 26, 2006. Specific tax characteristics of
all dividends reported will be reported to shareholders on Form 1099 after the
year ended 2006.

    About Hercules Technology Growth Capital, Inc.:

    Founded in December 2003, Hercules Technology Growth Capital, Inc. is a
NASDAQ traded specialty finance company providing debt and equity growth capital
to technology-related companies at all stages of development. The company
primarily finances privately-held companies backed by leading venture capital
and private equity firms and also may finance certain publicly-traded companies.
Hercules focuses its investments in companies active in technology and
technology-related industries such as computer software and hardware, networking
systems, semiconductors, semiconductor capital equipment, information technology
infrastructure, Internet consumer and business services, telecommunications, and
life sciences. The company's investments are originated through its principal
office located in Silicon Valley, as well as additional offices in the Boston,
Boulder 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 http://www.herculestech.com . Companies
interested in learning more about financing opportunities should contact
info@herculestech.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.

SOURCE  Hercules Technology Growth Capital, Inc.
    -0-                             07/19/2006
    /CONTACT:  Main, +1-650-289-3060, or info@herculestech.com, or David Lund,
+1-650-289-3077, or dlund@herculestech.com, both of Hercules Technology Growth
Capital, Inc./
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    /Web site:  http://www.herculestech.com /
    (HTGC)