Hercules Announces Participation in Sling Media's $46.6 Million Equity Financing

Hercules Announces Participation in Sling Media's $46.6 Million Equity Financing

PALO ALTO, Calif., Feb. 13 /PRNewswire-FirstCall/ -- Hercules Technology Growth Capital, Inc. (NASDAQ:HTGC), a leading debt and equity growth capital provider to technology and life science companies, announced it participated in a $46.6 million round of equity financing on Jan. 23, 2006 for Sling Media, Inc., a digital lifestyle products company.

(Logo: http://www.newscom.com/cgi-bin/prnh/20050609/SFTH149LOGO )

Sling Media, Inc., has developed a device that allows people to watch cable and satellite TV on their laptops or cell phones while away from home. The company's first product, the Slingbox(TM), is a breakthrough consumer electronics device that enables consumers to watch their living room TV programming from wherever they are by turning virtually any Internet-connected Windows-based computer or any Windows Mobile-based PDA or smartphone into a personal TV. The Slingbox redirects, or "placeshifts," a single live TV stream from a basic cable connection, cable box, satellite receiver or digital video recorder (DVR) to the viewer's PC -- located anywhere in the home or anywhere in the world, via the Internet.

"The Slingbox uses a proprietary video streaming technology that makes the concept of 'TV placeshifting' a reality and positions Sling Media as a leader in the rapidly expanding streaming video market," said Sam Bhaumik, managing director of Hercules Technology Growth Capital.

About Hercules Technology Growth Capital:

Founded in December 2003, Hercules Technology Growth Capital, Inc. is a NASDAQ traded specialty finance company providing 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. Hercules focuses its investments in companies active in technology and technology-related industries such as computer software and hardware, networking systems, semiconductors, semiconductor capital equipment, information technology infrastructure, Internet consumer and business services, telecommunications, and life sciences. The company's investments are originated through its principal office located in Silicon Valley, as well as additional offices in the Boston, Boulder 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 http://www.herculestech.com/. Companies interested in learning more about financing opportunities should contact info@herculestech.com or call 650-289-3060.

About Sling Media:

Sling Media, Inc. is a digital lifestyle products company creating a family of consumer electronics solutions that are a natural extension of today's digital way of life. The first member of the Sling Media family is the award-winning Slingbox(TM), a device that allows consumers to access their living room television experience at any time, from any location, using a variety of different displays including laptops and desktop PCs, PDAs and smartphones. The Slingbox is available from leading retailers nationwide and through Sling Media's own website. For more information on Sling Media or the Slingbox, visit www.slingmedia.com.

Forward-Looking Statements:

The statements contained in this release that are not purely historical are forward-looking statements, which involve risk and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. These statements may be identified by their use of forward-looking terminology such as "believes", "expects", "may", "should", "would", "will", "intends", "plans", "estimates", "anticipates" and similar words, and include, but are not limited to, statements regarding the expectations, intentions or strategies of Hercules Technology Growth Capital, Inc. For these statements, Hercules claims the protection of the safe harbor for forward-looking statements provisions contained in the Private Securities Litigation Reform Act of 1995. You should be aware that Hercules' actual results could differ materially from those contained in the forward-looking statements due to a number of risks and uncertainties affecting its business. Factors that may cause actual results to differ from forward-looking statements include Hercules' limited operating history as a business development company, the extent to which Hercules incurs debt to fund its investments, fluctuations in interest rates, the concentration of Hercules' investments in a limited number of emerging-growth or expansion stage technology-related companies, the illiquid nature of the securities Hercules' holds, the highly competitive market for investment opportunities in which Hercules operates and others discussed in Hercules' filings with the Securities and Exchange Commission. 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.

Photo: http://www.newscom.com/cgi-bin/prnh/20050609/SFTH149LOGO
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk photodesk@prnewswire.com
Source: Hercules Technology Growth Capital, Inc.

CONTACT: Hercules Technology Growth Capital, Inc., +1-650-289-3060, or
info@herculestech.com; or Christina Carrabino for Hercules Technology Growth
Capital, Inc., +1-650-470-0200, or christina@stapleton.com

Web site: http://www.slingmedia.com/

Web site: http://www.herculestech.com/

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