Triangle Capital Corporation Announces Two New Investments Totaling $9.8 Million

RALEIGH, N.C., March 13, 2008 (PRIME NEWSWIRE) -- Triangle Capital Corporation (Nasdaq:TCAP) ("Triangle" or "the Company"), a leading specialty finance company that provides customized financing solutions to lower middle market companies located throughout the United States, today announced that it closed investments in AssetPoint, LLC ("AssetPoint") and Electronic Systems Protection, Inc. ("ESP") totaling, in aggregate, $9.8 million.

On March 6, 2008, Triangle closed a $5.5 million investment in AssetPoint consisting of $4.3 million in subordinated debt, $0.5 million in equity, and an unfunded subordinated debt commitment of $0.7 million. For over twenty five years, AssetPoint has been a pioneer in delivering integrated enterprise asset management and computerized maintenance management software and services that improve profitability and productivity for the process and manufacturing industries. AssetPoint's primary improvement tool, TabWareEFx is an application routinely accessed by tens of thousands of users to manage billions of dollars in critical plant and facility assets worldwide. AssetPoint, headquartered in Greenville, SC, is recognized by industry analysts as one of the top suppliers of enterprise asset management solutions.

On March 7, 2008, the Company closed a $4.3 million investment in ESP comprised of $1.0 million in senior debt, $3.0 million in subordinated debt, and $0.3 million in equity. ESP, headquartered in Zebulon, NC, is one of the leading manufacturers of power protection technology for the office technology industry. ESP's patented power filtration system and power protection technology are used by many of the world's premier electronic equipment manufacturers.

"We are very pleased to add AssetPoint and ESP to our already well-balanced investment portfolio. Both companies have records of strong historical performance, appear to be well positioned for future growth, and are reflective of the high quality investment opportunities Triangle likes to identify," commented Garland S. Tucker, III, President and Chief Executive Officer of the Company.

About Triangle Capital Corporation

Triangle Capital Corporation (www.TCAP.com) is a specialty finance company organized to provide customized financing solutions to lower middle market companies located throughout the United States. Triangle's investment objective is to seek attractive returns by generating current income from debt investments and capital appreciation from equity related investments. Triangle's investment philosophy is to partner with business owners, management teams and financial sponsors to provide flexible financing solutions to fund growth, changes of control, or other corporate events. Triangle typically invests $5.0 - $15.0 million per transaction in companies with annual revenues between $20.0 and $75.0 million and EBITDA between $2.0 and $10.0 million.

Triangle has elected to be treated as a business development company under the Investment Company Act of 1940 ("1940 Act"). Triangle is required to comply with a series of regulatory requirements under the 1940 Act as well as applicable NASDAQ, federal and state laws and regulations. Triangle intends to elect to be treated as a regulated investment company under the Internal Revenue Code of 1986. Failure to comply with any of the laws and regulations that apply to Triangle could have a material adverse effect on Triangle and its shareholders.

This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any such statements, other than statements of historical fact, are likely to be affected by other unknowable future events and conditions, including elements of the future that are or are not under the Company's control, and that the Company may or may not have considered; accordingly, such statements cannot be guarantees or assurances of any aspect of future performance. Actual developments and results are highly likely to vary materially from these estimates and projections of the future. Such statements speak only as of the time when made, and the Company undertakes no obligation to update any such statement now or in the future.

CONTACT:  Triangle Capital Corporation
          Sheri B. Colquitt, Vice President, Investor Relations
            919-719-4784
            scolquitt@tcap.com
          Steven C. Lilly, Chief Financial Officer
            919-719-4789
            slilly@tcap.com

Released March 13, 2008