Hercules Technology Provides $20 Million in Venture Debt to Glam Media, Inc., an Online Media Network Recognized as the Leading Site for Women

PALO ALTO, Calif.--(BUSINESS WIRE)--

Hercules Technology Growth Capital, Inc. (NASDAQ:HTGC), the premier specialty finance company providing venture debt and equity to venture capital and private equity backed technology and life science companies at all stages of development, today announced that it provided $20 million in debt financing to Glam Media, Inc., in March 2008. Hercules served as the sole debt provider among a group of equity investors in the $84.6 million financing round to Glam Media. The company operates a distributed media network, which currently stands as the largest in reach for women in the U.S. with more than one in 10 females in the 18-and-over demographic.

"Glam Media is an attractive company for Hercules because Glam has made significant inroads against the competition for brand advertisers in a short period of time," said Steve Kuo, managing director at Hercules. "Glam Media is growing extremely fast and enjoys experienced entrepreneurial leadership from its management team."

The company recently announced the creation of Glam International, which will extend the network's global reach to several markets outside the U.S., including the United Kingdom, Germany, France and Japan.

"Glam Media's global extension mirrors Hercules' own efforts to expand and provide venture debt capital to venture backed companies outside the U.S.," continued Kuo.

"Glam Media looks to continue on the path of growth and expansion as we enter new markets and geographies," said Samir Arora, chairman and CEO of Glam Media. "Hercules' debt financing will provide additional financial flexibility to support Glam Media's continued growth and leadership position in brand advertising and the media network space."

Glam Media is backed by several leading venture capital firms, including Hubert Burda Media, GLG Partners, Accel Partners, DAG Ventures, Draper Fisher Jurvetson, Walden Venture Capital and Information Capital.

About Hercules Technology Growth Capital, Inc.:

Hercules Technology Growth Capital, Inc. is a NASDAQ traded specialty finance company providing debt and equity growth capital to technology and life science companies at all stages of development. Founded in December 2003, the company primarily finances privately held companies backed by leading venture capital and private equity firms. Hercules invests in a broad range of ventures active in technology and life science industries and offers a full suite of growth capital products up and down the capital structure. The company is headquartered in Palo Alto, Calif. and has additional offices in the Boston, Boulder, San Diego and Chicago areas. Providing capital to publicly-traded or privately-held companies backed by leading venture capital and private equity firms involves a high degree of credit risk and may result in potential losses of capital. For more information, please visit www.HTGC.com.

Companies interested in learning more about financing opportunities should contact info@HTGC.com, or call 650.289.3060.

About Glam Media, Inc.:

Glam Media's distributed media network model is in part changing the very definition of what a media company is in the 21st Century. With more than 53 million unique monthly visitors (comScore MediaMetrix) Glam Media provides a compelling mix of fresh, original content created in-house with a carefully curated Glam Publishing Network of more than 450 popular and influential lifestyle Web sites, blogs and magazines. For premium national brand advertisers, Glam Media offers an unprecedented array of targeted options that are singularly attractive to both upscale and aspirational consumers. Glam Media is backed by Hubert Burda Media, GLG Partners, Accel Partners, DAG Ventures, Draper Fisher Jurvetson, Walden Venture Capital and Information Capital. Glam Media is based in New York City and Brisbane, California. For more information, please visit www.glammedia.com.

Forward-Looking Statements:

The statements contained in this release that are not purely historical are forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to uncertainties and other factors that could cause actual results to differ materially from those expressed in the forward-looking statements including, without limitation, the risks, uncertainties and other factors we identify from time to time in our filings with the Securities and Exchange Commission. Although we believe that the assumptions on which these forward-looking statements are reasonable, any of those assumptions could prove to be inaccurate and, as a result, the forward-looking statements based on those assumptions also could be incorrect. You should not place undue reliance on these forward-looking statements. The forward-looking statements contained in this release are made as of the date hereof, and Hercules assumes no obligation to update the forward-looking statements for subsequent events.

Source: Hercules Technology Growth Capital, Inc.

Released April 9, 2008