Triangle Capital Corporation Announces First Investment From Second Fund

RALEIGH, N.C., Jan. 13, 2010 (GLOBE 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 an $8 million subordinated debt investment in ZoomSystems, Inc. ("ZoomSystems"). ZoomSystems partners with leading brands to implement networks of fully automated retail kiosks in high-traffic locations such as airports, shopping centers, supermarkets and retail stores. This investment represents Triangle's first investment through its proposed second SBIC fund.

As previously announced, Triangle submitted an application to the SBA for a second SBIC license on September 11, 2009. The license application is currently under consideration, and the proposed fund was granted SBA approval to make this pre-licensing investment.

"This investment is exciting for Triangle on two fronts. We have added an innovative company with significant growth potential to our portfolio, and we were able almost immediately to deploy cash proceeds from our recent public offering. By making this investment from our proposed second SBIC fund, we were able to invest idle cash at an attractive interest rate while maintaining the ability to receive future leverage on that cash in the form of low cost SBA guaranteed debentures if the SBIC license application is approved," 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 $20.0 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 has elected 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 stockholders.

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 January 13, 2010