Exhibit 99.1


    TICC ANNOUNCES $8 MILLION TRANSACTION WITH CRYSTALTECH WEB HOSTING, INC.

Greenwich, CT - 03/28/2005 - Technology Investment Capital Corp. (Nasdaq: TICC)
announced today that it has completed an $8 million investment in senior secured
notes issued by CrystalTech Web Hosting, Inc., an Internet services company
providing web hosting services as well as domain registration and other services
to small businesses and individuals.


ABOUT CRYSTALTECH WEB HOSTING, INC.

Founded in 1992, CrystalTech is an Internet services company providing web
hosting services as well as domain registration and other services to small
businesses and individuals. CrystalTech is a wholly-owned subsidiary of Newtek
Business Services, Inc. (Nasdaq: NKBS), a publicly-traded provider of financial
and business services to small and medium-sized businesses. More information on
CrystalTech can be found at www.crystaltech.com.


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.