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Hercules Technology Announces the Appointment of Robert P. Badavas to the Company’s Board of Directors

Palo Alto, Calif. – March 21, 2006

Hercules Technology Growth Capital, Inc. (NASDAQ: HTGC), a leading debt and equity growth capital provider to technology and life science companies, today announced that Robert P. Badavas has been elected to the company’s board of directors. Mr. Badavas will become the chairman of the audit committee and will be a member of the company’s compensation committee. Allyn Woodward and Joseph Chow, the company’s other independent directors, will also remain on those committees.

Mr. Badavas has more than 30 years of executive level finance and management experience. Currently, he is the president and chief executive officer of TAC Worldwide, an information technology and engineering staffing solutions company. He joined TAC Worldwide in 2003 as executive vice president and chief financial officer. Prior to joining TAC Worldwide, Mr. Badavas held several executive level positions, including chief operating officer at Atlas Venture, a $2+ billion venture capital firm with headquarters in Boston; chief executive officer of Cerulean Technology, a wireless application software company that was sold to Aether Systems in 2000; and senior vice president and chief financial officer of Chipcom, where he played an important role in its successful IPO and subsequent sale to 3Com Corporation for $900 million in 1995.

“Bob is a proven executive with strong financial leadership experience,” said Manuel Henriquez, chairman, president and CEO of Hercules. “His extensive technology industry experience, along with his venture capital knowledge, makes him a great addition to our highly experienced board. We look forward to adding his expertise and valuable insight as we continue to grow our business.”

Mr. Badavas serves on the board of directors of RSA Security Corporation (NASDAQ: RSAS), as chairman of the audit committee, and previously served as a director of Renaissance Corporation, a prominent U.S. staffing company. He also serves as chairman of the board of directors for the Learning Center for Deaf Children in Framingham, MA. He is a CPA and began his career in Boston at Price Waterhouse. Mr. Badavas received his Bachelor of Science degree, with high honors, in Accounting and Finance from Bentley College.