TICC Prices Public Offering of Common Stock

Technology Investment Capital Corp. (the "Company") (NASDAQ: TICC) announced today that it has priced its public offering of 5,000,000 shares of its common stock at an offering price of $14.50 per share. TICC expects to raise approximately $72.5 million of gross proceeds in the current public offering. TICC has granted the underwriters an option for a period of 30 days to purchase up to an additional 750,000 shares of its common stock to cover over-allotments, if any. The offering is subject to customary closing conditions and is expected to close on Tuesday, December 13, 2005.

The Company expects to use the net proceeds of the offering to repay amounts outstanding under the Company's credit facility and to fund investments in portfolio companies, as well as for general corporate purposes. Wachovia Securities, RBC Capital Markets, Stifel Nicolaus and BB&T Capital Markets, a division of Scott & Stringfellow, Inc. are acting as underwriters for the offering. Wachovia Securities is the sole bookrunning manager and RBC Capital Markets is the co-lead manager.

This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities in this offering, nor shall there be any sale of these securities in any state in which such an offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state. The offering may be made only by means of a prospectus and a related prospectus supplement, copies of which may be obtained, when available, from Wachovia Capital Markets LLC, 7 Saint Paul Street, 1st Floor, Baltimore, MD. 21202.

About Technology Investment Capital Corp.

We are a publicly traded business development company principally engaged in providing capital to small to mid-size technology-related companies. While the structures of our financings vary, we look to invest primarily in the debt and equity of established technology-related businesses. Companies interested in learning more about financing opportunities should contact Barry Osherow at (203) 661-9572 or visit our website at www.ticc.com.

Forward-Looking Statements

This press release contains forward-looking statements subject to the inherent uncertainties in predicting future results and conditions. Any statements that are not statements of historical fact (including statements containing the words "believes," "plans," "anticipates," "expects," "estimates" and similar expressions) should also be considered to be forward-looking statements. Certain factors could cause actual results and conditions to differ materially from those projected in these forward-looking statements. These factors are identified from time to time in our filings with the Securities and Exchange Commission. We undertake no obligation to update such statements to reflect subsequent events.

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