JMP Securities Closes $78 Million Initial Public Offering For Hercules Technology Growth Capital
Six Million Common Shares Placed

SAN FRANCISCO, June 16, 2005 - JMP Securities LLC announced today that it served as the lead manager of an initial public offering for Hercules Technology Growth Capital, Inc. (NASDAQ: HTGC), a specialty finance company. Ferris, Baker Watts, Incorporated served as co-manager of the offering.

Hercules Technology Growth Capital sold 6.0 million common shares in the offering at a price of $13.00 per share, raising gross proceeds of $78.0 million. The company has granted the underwriters an option to purchase up to 900,000 additional shares of common stock to cover over-allotments, if any.

This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities in this offering. A copy of the final prospectus relating to the offering may be obtained from JMP Securities LLC, Investment Banking Department, 600 Montgomery Street, Suite 1100, San Francisco, CA 94111; telephone: (415) 835-8900; facsimile: (415) 835-8920.

Hercules Technology Growth Capital, Inc. is a specialty finance company that provides debt and equity growth capital to technology-related companies at all stages of development. The company primarily finances privately-held companies backed by leading venture capital and private equity firms and also may finance certain publicly-traded companies. The company’s investment objective is to achieve current income and capital appreciation.

JMP Securities LLC is a full-service investment bank providing equity research, institutional brokerage and investment banking services to public and private growth companies and their investors. For more information, visit www.jmpsecurities.com.

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