Exhibit 99.1

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

TRIANGLE CAPITAL CORPORATION REPORTS FIRST QUARTER 2012 RESULTS

RALEIGH, NC – May 2, 2012, Triangle Capital Corporation (NYSE: TCAP) (“Triangle” or the “Company”), a leading provider of capital to lower middle market companies located throughout the United States, today announced its financial results for the first quarter of 2012.

Highlights

In commenting on the Company’s results, Garland S. Tucker, III, President and Chief Executive Officer, stated, “2012 has been very active for Triangle in numerous respects. We completed our seventh public equity offering, our first public bond offering, and we originated approximately $90 million of investments in seven new portfolio companies. We continue to be pleased with the credit quality of our existing portfolio, and look forward to increasing our distributable income during the balance of 2012.”

First Quarter 2012 Results

Total investment income during the first quarter of 2012 was $19.1 million, compared to total investment income of $12.4 million for the first quarter of 2011, representing an increase of 53.8%. The Company’s increase in investment income is primarily attributable to new portfolio investments made during 2011 and 2012 which resulted in an increase in total loan interest, fee, dividend and paid-in-kind interest income of approximately $6.7 million.

Net investment income during the first quarter of 2012 was $12.2 million, compared to net investment income of $7.9 million for the first quarter of 2011, representing an increase of 54.6%. The Company’s net investment income per share during the first quarter of 2012 was $0.49 based on a weighted average share count of 25,075,300 as compared to $0.47 during the first quarter of 2011, based on a weighted average share count of 16,848,570.

The Company’s net increase in net assets resulting from operations was $12.6 million during the first quarter of 2012, as compared to a net increase in net assets resulting from operations of $12.4 million during the first quarter of 2011. The Company’s net increase in net assets resulting from operations was $0.50 per share during the first quarter of 2012 based on a weighted average share count of 25,075,300, as compared to a net increase in net assets resulting from operations of $0.73 per share during the first quarter of 2011, based on a weighted average share count of 16,848,570.

The Company’s net asset value, or NAV, per share at March 31, 2012, was $15.12 as compared to $14.68 per share at December 31, 2011. As of March 31, 2012, the Company’s weighted average yield on its outstanding, currently yielding, debt investments was approximately 15.1%.

Liquidity and Capital Resources

At March 31, 2012, the Company had cash and cash equivalents totaling $142.5 million.

Commenting on the Company’s liquidity position, Steven C. Lilly, Chief Financial Officer, stated, “Our ability to access the capital markets in multiple ways has been a strength for Triangle. In addition, our public offerings were well timed as we have already invested approximately 63% of the net offering proceeds, which positions us favorably as we move into the second quarter. Our liquidity at quarter-end, including funds available to us under our existing credit facility and undrawn SBA debentures, totaled approximately $228 million, which is a very comfortable number for us.”

The Company has a three-year senior secured credit facility (the “Credit Facility”) with a commitment of $75.0 million, an accordion feature which allows for an increase in the total loan size up to $90.0 million, and contains two one-year extension options bringing the total potential funding period to five years from closing. As of March 31, 2012, the Company had no outstanding debt under the Credit Facility.

During the first quarter of 2012, Triangle pre-paid $10.4 million in Small Business Administration (“SBA”) guaranteed debentures that bore interest at a weighted average interest rate of 6.2%. As of March 31, 2012, the Company had outstanding non-callable, fixed rate SBA guaranteed debentures totaling $213.9 million with a weighted average interest rate of 4.76%

During the first quarter of 2012, the Company completed a public offering of 4.3 million shares of common stock with net proceeds of approximately $77.2 million.

Also during the first quarter of 2012, the Company completed an underwritten public offering of $69.0 million in aggregate principal amount of senior unsecured notes. The notes will mature on

March 15, 2019, and may be redeemed in whole or in part at any time or from time to time at the Company’s option on or after March 15, 2015. The notes bear interest at a rate of 7.00% per year payable quarterly on March 15, June 15, September 15 and December 15 of each year, beginning June 15, 2012.

Dividend and Distribution Information

On February 28, 2012, Triangle announced that its board of directors had declared a cash dividend of $0.47 per share. This was the Company’s twenty-first consecutive quarterly dividend since its initial public offering in February, 2007. The dividend was payable as follows:

Record Date: March 14, 2012

Payment Date: March 28, 2012

At the time of its IPO in February, 2007, Triangle 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 first quarter of 2012, Triangle made four new investments totaling approximately $41.0 million, two debt investments in existing portfolio companies totaling approximately $0.8 million, and one equity investment in an existing portfolio company of approximately $0.2 million. During the first quarter of 2012, the Company received two loan repayments at par totaling approximately $6.7 million and received normal principal repayments and partial loan prepayments totaling approximately $1.6 million.

New investment transactions which occurred during the first quarter of 2012 are summarized as follows:

In February, 2012, Triangle made a $6.3 million investment in Stella Environmental Services, LLC (“Stella”) consisting of subordinated debt with warrants. Stella, formerly a division of Sprint Logistics, is the leading operator of waste transfer stations and disposal logistics in the Houston area for municipal solid waste.

In March, 2012, Triangle made a $12.0 million investment in United Biologics, LLC (“United”) consisting of first lien debt and equity. United tests for and treats allergies using immunotherapy.

In March, 2012, Triangle made a $14.2 million investment in The Krystal Company (“Krystal”) consisting of subordinated debt and equity. Krystal is a quick serve restaurant with company-owned units and franchises throughout the country and is widely recognized for its well-known KRYSTAL Burgers.

In March, 2012, Triangle made an $8.5 million subordinated debt investment in ROM Corporation (“ROM”). ROM is the leading manufacturer of roll-up shutter doors for emergency vehicle storage compartments, emergency scene lighting products, truck and trailer access equipment such as ramps and steps, and other related emergency vehicle and industrial components.

Investments subsequent to quarter end are summarized as follows:

In April, 2012, Triangle made a $23.0 million investment in WSO Holdings, LP (“WSO”), consisting of subordinated debt and equity. WSO is a supplier of organic and natural sweeteners to retail, food service, and industrial food manufacturers in the U.S. and Canada.

In April, 2012, Triangle made a $7.0 million subordinated debt investment in Tomich Brothers, LLC (“Tomich”). Tomich is a processor and world-wide distributor of seafood indigenous to the waters of California.

In April, 2012, Triangle made an $18.5 million investment in Chromaflo Technologies, LLC (“Chromaflo”). Chromaflo develops, manufactures and distributes architectural and industrial colorants for the paint and coatings industries.

Conference Call to Discuss First Quarter 2012 Results

Triangle has scheduled a conference call to discuss first quarter results for Thursday, May 3, 2012, 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 May 8, 2012. To access the replay, please dial 855-859-2056 or 404-537-3406 and enter the passcode 74677030.

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 May 31, 2012.

About Triangle Capital Corporation

Triangle Capital Corporation (www.TCAP.com) invests capital in established companies in the lower middle market to fund growth, changes of control and other corporate events. Triangle offers a wide variety of investment structures, and specializes in mezzanine financing with equity components. 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. Triangle typically invests $5.0 million - $25.0 million per transaction in companies with annual revenues between $20.0 million and $200.0 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 NYSE, 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 and shareholders may receive a hard copy of the completed audited financial statements free of charge upon request to the Company at 3700 Glenwood Avenue, Suite 530, Raleigh, NC 27612. 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

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TRIANGLE CAPITAL CORPORATION

Consolidated Balance Sheets

TRIANGLE CAPITAL CORPORATION

Unaudited Consolidated Statements of Operations

TRIANGLE CAPITAL CORPORATION

Unaudited Consolidated Statements of Cash Flows