Exhibit 99.1

            TICC ANNOUNCES $15 MILLION TRANSACTION WITH SEGOVIA, INC.

Greenwich, CT - 2/8/2005 - Technology Investment Capital Corp. (NASDAQ: TICC)
announced today that it has completed a $15 million investment in senior secured
notes with warrants issued by Segovia, Inc., a leading provider of secure global
voice, data, and video broadband satellite services.

ABOUT SEGOVIA, INC.

Headquartered in Herndon, Virginia, Segovia is a leading provider of secure
global voice, data, and video broadband satellite services. As the first company
to build a secure global internet protocol ("IP") satellite network, Segovia has
become a key strategic supplier of communications to the U.S. Department of
Defense, civilian agencies, and private sector organizations. More information
on Segovia can be found at www.segoviaip.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.