Exhibit 99.1

		3700 Glenwood Ave., Ste. 530 Raleigh, NC 27612

TRIANGLE CAPITAL CORPORATION REPORTS THIRD QUARTER 2010 RESULTS

RALEIGH, NC — November 3, 2010, 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 its financial results for the third quarter of 2010.

Commenting on the quarter, Garland S. Tucker, III, President and CEO, stated, “The third quarter was an especially active time for us as we initiated approximately $30 million of new investments, we experienced approximately $30 million of principal repayments, we recapitalized a portion of our SBA debentures at extremely favorable rates, and we raised over $41 million of equity capital in a successful follow-on offering in September. As we begin to focus on 2011, we remain pleased with the performance of our existing portfolio and we are delighted with the quality of new investment opportunities we are seeing.”

Third Quarter 2010 Results

Total investment income during the third quarter of 2010 was $9.8 million, compared to total investment income of $7.1 million for the third quarter of 2009, representing an increase of 37.9%. The Company’s increase in investment income is primarily attributable to new portfolio investments made during 2009 and 2010 which resulted in an increase in total loan interest, fee, dividend and paid-in-kind interest income of approximately $2.8 million, offset by a decrease in interest income from cash and cash equivalent investments of $0.1 million.

Net investment income during the third quarter of 2010 was $5.6 million, compared to net investment income of $3.7 million for the third quarter of 2009, representing an increase of 51.0%. The Company’s net investment income per share during the third quarter of 2010 was $0.46, based on a weighted average share count of 12,258,614, as compared to $0.41 during the third quarter of 2009, based on a weighted average share count of 9,129,192.

The Company’s net increase in net assets resulting from operations was $7.2 million during the third quarter of 2010, as compared to a net decrease in net assets resulting from operations of $0.8 million during the third quarter of 2009. The Company’s net increase in net assets resulting from operations was $0.59 per share during the third quarter of 2010 based on a weighted average share count of 12,258,614, as compared to a net decrease in net assets resulting from operations of $0.09 per share during the third quarter of 2009, based on a weighted average share count of 9,129,192.

The Company’s net asset value per share at September 30, 2010, was $11.99 as compared to $11.08 per share at June 30, 2010. As of September 30, 2010, the Company’s weighted average yield on its outstanding, currently yielding, debt investments was approximately 15.1%.

Liquidity and Capital Resources

At September 30, 2010, the Company had cash and cash equivalents totaling $74.1 million.

During the third quarter of 2010, the Company completed a public offering of 2.8 million shares of common stock with net proceeds of approximately $41.3 million.

Commenting on the Company’s liquidity and capital resources, Steven C. Lilly, Chief Financial Officer, stated, “Triangle is fortunate to enjoy a strong liquidity position at what we believe is a very opportune time in the mezzanine market. Based on our cash on hand as of September 30, 2010, and our incremental SBA commitments, we have access to approximately $160 million of capital which provides us with significant corporate visibility as we prepare to move into 2011.”

Also during the third quarter of 2010, Triangle pre-paid $22.3 million in Small Business Administration (“SBA”) guaranteed debentures that bore interest at a weighted average interest rate of 5.8%. During the same period, Triangle issued $32.6 million of new 10-year SBA-guaranteed debentures at a weighted average fixed interest rate of 3.7%. Triangle also issued a five-year SBA-guaranteed Low to Moderate Income (“LMI”) debenture with a principal amount of $7.8 million and a fixed interest rate of 2.5% for proceeds of $6.8 million. As of September 30, 2010, the Company had non-callable, fixed rate SBA guaranteed debentures outstanding totaling $139.0 million. The Company has the ability to issue up to a total of $225.0 million in SBA-guaranteed debentures.

Dividend Information

On August 25, 2010, Triangle announced that its board of directors had declared a cash dividend of $0.41 per share. This was the Company’s fifteenth consecutive quarterly dividend since its initial public offering in February, 2007. The dividend was payable as follows:

          Record Date: September 8, 2010
          Payment Date: September 22, 2010

Triangle has adopted a dividend reinvestment plan (“DRIP”) that provides for reinvestment of dividends on behalf of its stockholders, unless a stockholder elects to receive cash. As a result, when the Company declares a cash dividend, stockholders who have not opted out of the DRIP will have their cash dividends automatically reinvested in additional shares of the Company’s common stock, rather than receiving cash dividends.

When the Company declares and pays dividends, it determines the allocation of the distribution between current income, accumulated income and return of capital on the basis of accounting principles generally accepted in the United States (“GAAP”). At each year end, the Company is required for tax purposes to determine the dividend allocation based on tax accounting principles. Due to differences between GAAP and tax accounting principles, the portion of each dividend distribution that is ordinary income, capital gain or return of capital may differ for GAAP and tax purposes.

Recent Portfolio Activity

During the third quarter of 2010, Triangle made three new investments totaling approximately $26.1 million, and four debt investments in existing portfolio companies totaling approximately $3.9 million. In addition, the Company sold one equity investment in a portfolio company resulting in a realized gain of approximately $0.3 million, and sold a convertible note investment in a portfolio company resulting in a realized gain of approximately $0.9 million. Also during the third quarter of 2010, four portfolio company loans were repaid at par totaling approximately $25.9 million and Triangle received normal principal repayments totaling approximately $2.8 million.

Previously announced investment transactions during the third quarter of 2010 are summarized as follows:

On July 9, 2010, the Company made a $5.5 million investment in Hatch Chile Co., LLC (“Hatch Chile”) consisting of subordinated debt with warrants. Hatch Chile is a food products company that distributes branded, green chile based cooking sauces and related canned chile and tomato products for retail customers, primarily in the Southwestern United States.

On August 6, 2010, Triangle made a $13.9 million investment in Carolina Beer & Beverage (“CBB”) consisting of subordinated debt and equity. CBB performs beverage manufacturing and co-packaging, as well as fee-based warehousing, logistics and distribution services. CBB is a co-packer for some of the largest and fastest growing national and international beverage companies, producing well known energy drinks, flavored malt beverages, and organic and natural beverages.

On September 15, 2010, the Company made a $6.7 million investment in AP Services, Inc. (“AP Services”) consisting of subordinated debt and equity. AP Services, headquartered in Freeport, Pennsylvania, is a supplier of gaskets, packing, and other fluid sealing technologies and services to power plants and original equipment manufacturers.

Subsequent to quarter end, on October 29, 2010, Triangle closed a $10.8 million investment in Infrastructure Corporation of America (“ICA”) consisting of subordinated debt with warrants. ICA maintains public transportation infrastructure, including roadways, bridges, toll ways, rest areas and welcome centers. This investment is in support of ICA’s acquisition of full-service engineering firm Florence & Hutcheson, which adds planning, design-build, civil, geotechnical, environmental, construction engineering and inspection, and water resources to ICA’s existing services.

Also on October 29, 2010, the Company made a $6.0 million subordinated debt investment in McKenzie Sports Products, LLC (“McKenzie”). McKenzie is the largest designer and manufacturer of taxidermy forms and supplies used to mount hunting and fishing trophies in the United States.

Conference Call to Discuss Third Quarter 2010 Results

Triangle has scheduled a conference call to discuss third quarter results for Thursday, November 4, 2010, at 9:00 a.m. ET.

To listen to the call, please dial 877-312-5521 or 253-237-1143 approximately 10 minutes prior to the start of the call. A taped replay will be made available approximately two hours after the conclusion of the call and will remain available until November 9, 2010. To access the replay, please dial 800-642-1687 or 706-645-9291 and enter the passcode 20147650.

Triangle’s quarterly results conference call will also be available via a live webcast on the investor relations section of its website at http://ir.tcap.com/events.cfm. Access the website 15 minutes prior to

the start of the call to download and install any necessary audio software. An archived webcast replay will be available on the Company’s website until January 31, 2011.

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 million – $15.0 million per transaction in companies with annual revenues between $20.0 million and $100.0 million and EBITDA between $3.0 million 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.

Forward Looking Statements

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 and some of these uncertainties are enumerated in Triangle’s filings with the Securities and Exchange Commission. Certain factors that could cause actual results to differ materially from those contained in the forward-looking statements are included in our annual reports on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K, each as filed with the Securities and Exchange Commission. Copies are available on the SEC’s website at www.sec.gov. 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.

Contacts

Sheri Blair Colquitt
Vice President, Investor Relations
919-719-4784
scolquitt@tcap.com

Steven C. Lilly
Chief Financial Officer
919-719-4789
slilly@tcap.com

# # #

TRIANGLE CAPITAL CORPORATION
Consolidated Balance Sheets

		September 30,				December 31,
		2010				2009
		(Unaudited)
Assets
Investments at fair value:
Non—Control / Non—Affiliate investments (cost of $180,441,851 and $143,239,223 at September 30, 2010 and December 31, 2009, respectively)		$	180,835,768			$	138,281,894
Affiliate investments (cost of $46,610,233 and $47,934,280 at September 30, 2010 and December 31, 2009, respectively)			35,987,510				45,735,905
Control investments (cost of $20,107,190 and $18,767,587 at September 30, 2010 and December 31, 2009, respectively)			23,755,121				17,300,171
Total investments at fair value			240,578,399				201,317,970
Cash and cash equivalents			74,087,213				55,200,421
Interest and fees receivable			603,892				676,961
Prepaid expenses and other current assets			240,009				286,790
Deferred financing fees			4,355,344				3,540,492
Property and equipment, net			45,802				28,666
Total assets		$	319,910,659			$	261,051,300
Liabilities
Accounts payable and accrued liabilities		$	1,627,793			$	2,222,177
Interest payable			524,319				2,333,952
Dividends payable			—				4,774,534
Taxes payable			49,573				59,178
Deferred revenue			47,500				75,000
Deferred income taxes			211,187				577,267
SBA guaranteed debentures payable			139,021,466				121,910,000
Total liabilities			141,481,838				131,952,108
Net Assets
Common stock, $0.001 par value per share (150,000,000 shares authorized, 14,885,134 and 11,702,511 shares issued and outstanding as of September 30, 2010 and December 31, 2009, respectively)			14,885				11,703
Additional paid-in capital			182,663,381				136,769,259
Investment income in excess of distributions			195,415				1,070,452
Accumulated realized gains on investments			2,347,198				448,164
Net unrealized depreciation of investments			(6,792,058	)			(9,200,386	)
Total net assets			178,428,821				129,099,192
Total liabilities and net assets		$	319,910,659			$	261,051,300
Net asset value per share		$	11.99			$	11.03

TRIANGLE CAPITAL CORPORATION
Unaudited Consolidated Statements of Operations

		Three Months				Three Months				Nine Months				Nine Months
		Ended				Ended				Ended				Ended
		September 30, 2010				September 30, 2009				September 30, 2010				September 30, 2009
Investment income:
Loan interest, fee and dividend income:
Non–Control / Non–Affiliate investments		$	6,654,541			$	3,850,305			$	16,673,386			$	12,252,053
Affiliate investments			1,044,088				1,374,819				3,152,758				3,215,690
Control investments			333,993				232,575				1,056,463				713,553
Total loan interest, fee and dividend income			8,032,622				5,457,699				20,882,607				16,181,296
Payment–in–kind interest income:
Non–Control / Non–Affiliate investments			1,338,018				711,882				3,301,525				2,322,402
Affiliate investments			231,525				600,532				797,448				978,568
Control investments			117,419				122,738				377,276				286,816
Total payment–in–kind interest income			1,686,962				1,435,152				4,476,249				3,587,786
Interest income from cash and cash equivalent investments			67,501				203,792				207,283				408,464
Total investment income			9,787,085				7,096,643				25,566,139				20,177,546
Expenses:
Interest expense			1,864,442				1,749,593				5,442,426				5,137,159
Amortization of deferred financing fees			469,394				90,500				665,455				268,810
General and administrative expenses			1,840,794				1,538,693				5,493,495				4,766,841
Total expenses			4,174,630				3,378,786				11,601,376				10,172,810
Net investment income			5,612,455				3,717,857				13,964,763				10,004,736
Net realized gain (loss) on investments — Non-Control/Non-Affiliate			1,210,481				—				(1,623,104	)			848,164
Net realized gain (loss) on investment — Affiliate			(19,100	)			—				3,522,138				—
Net unrealized appreciation (depreciation) of investments			358,936				(4,504,933	)			2,408,328				(15,028,496	)
Total net gain (loss) on investments before income taxes			1,550,317				(4,504,933	)			4,307,362				(14,180,332	)
Income tax benefit (provision)			20,410				8,417				(72,334	)			(38,277	)
Net increase (decrease) in net assets resulting from operations		$	7,183,182			$	(778,659	)		$	18,199,791			$	(4,213,873	)
Net investment income per share — basic and diluted		$	0.46			$	0.41			$	1.16			$	1.25
Net increase (decrease) in net assets resulting from operations per share — basic and diluted		$	0.59			$	(0.09	)		$	1.51			$	(0.53	)
Dividends declared per common share		$	0.41			$	0.41			$	1.23			$	1.21
Distributions of capital gains declared per common share		$	—			$	—			$	—			$	0.05
Weighted average number of shares outstanding — basic and diluted			12,258,614				9,129,192				12,047,852				8,024,933

TRIANGLE CAPITAL CORPORATION
Unaudited Consolidated Statements of Cash Flows

		Nine Months				Nine Months
		Ended				Ended
		September 30,				September 30,
		2010				2009
Cash flows from operating activities:
Net increase (decrease) in net assets resulting from operations		$	18,199,791			$	(4,213,873	)
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash used in operating activities:
Purchases of portfolio investments			(88,215,260	)			(27,943,735	)
Repayments received/sales of portfolio investments			53,975,274				9,289,106
Loan origination and other fees received			1,713,818				540,000
Net realized gain on investments			(1,899,034	)			(848,164	)
Net unrealized depreciation (appreciation) of investments			(2,042,248	)			15,434,615
Deferred income taxes			(366,080	)			(406,120	)
Payment—in—kind interest accrued, net of payments received			(1,249,763	)			(2,008,357	)
Amortization of deferred financing fees			665,455				268,810
Accretion of loan origination and other fees			(1,065,703	)			(443,135	)
Accretion of loan discounts			(477,513	)			(306,075	)
Accretion of discount on SBA guaranteed debentures payable			7,548				—
Depreciation expense			13,569				16,711
Stock-based compensation			848,623				512,448
Changes in operating assets and liabilities:
Interest and fees receivable			73,069				314,296
Prepaid expenses			46,781				(180,972	)
Accounts payable and accrued liabilities			(594,384	)			(158,034	)
Interest payable			(1,809,633	)			(1,311,242	)
Deferred revenue			(27,500	)			112,500
Taxes payable			(9,605	)			(5,537	)
Net cash used in operating activities			(22,212,795	)			(11,336,758	)
Cash flows from investing activities:
Purchases of property and equipment			(30,705	)			(3,194	)
Net cash used in investing activities			(30,705	)			(3,194	)
Cash flows from financing activities:
Borrowings under SBA guaranteed debentures payable			39,403,918				—
Repayments of SBA guaranteed debentures payable			(22,300,000	)			—
Financing fees paid			(1,480,307	)			(194,000	)
Proceeds from public stock offerings, net of expenses			41,250,089				27,091,248
Common stock withheld for payroll taxes upon vesting of restricted stock			(234,912	)			(66,900	)
Cash dividends paid			(15,508,496	)			(8,917,022	)
Cash distributions paid			—				(352,366	)
Net cash provided by financing activities			41,130,292				17,560,960
Net increase in cash and cash equivalents			18,886,792				6,221,008
Cash and cash equivalents, beginning of period			55,200,421				27,193,287
Cash and cash equivalents, end of period		$	74,087,213			$	33,414,295
Supplemental disclosure of cash flow information:
Cash paid for interest		$	7,244,511			$	6,448,401