Patriot Capital Funding Announces Results of the 2008 Annual Meeting of Stockholders

WESTPORT, Conn.--(BUSINESS WIRE)--Patriot Capital Funding, Inc. (NasdaqGS: PCAP) held its annual meeting of stockholders today. Five items were submitted for stockholder approval. Stockholders approved all of the proposals during the meeting. The items voted upon included the following:

• Proposal No. 1: election of two directors to Patriot Capital Funding’s Board of Directors who will serve for three years;
• Proposal No. 2: the ratification of the selection of Grant Thornton LLP to serve as the independent registered public accounting firm for Patriot Capital Funding for the fiscal year ending December 31, 2008;
• Proposal No. 3: the authorization for Patriot Capital Funding, with the approval of its Board of Directors, to sell shares of its common stock below the then current net asset value per share in one or more offerings;
• Proposal No. 4: the authorization for Patriot Capital Funding to issue shares of restricted stock under its Employee Restricted Stock Plan; and
• Proposal No. 5: the approval of a proposal to authorize Patriot Capital Funding to issue securities to subscribe to, convert to, or purchase shares of its common stock in one or more offerings.

About Patriot Capital Funding, Inc.

Patriot Capital Funding, Inc. (www.patcapfunding.com) is a specialty finance company providing customized financing solutions primarily to private equity sponsors focused on making investments in small- to mid-sized companies. Patriot Capital Funding typically invests in companies with annual revenues ranging from $10 million to $100 million that operate in diverse industry sectors. Investments usually take the form of senior secured loans, junior secured loans, and/or subordinated debt investments – which may contain equity or equity-related instruments. Patriot Capital Funding also offers "one-stop" financing, which typically includes a revolving credit line, one or more senior term loans and a subordinated debt investment. Patriot Capital Funding also makes equity co-investments of generally up to $3.0 million and, to a lesser extent, investments in broadly syndicated loans.

Forward-Looking Statements

This press release may contain certain forward-looking statements, including statements with regard to the future performance of Patriot Capital Funding. Words such as “believes,” “expects,” “projects,” and “future” or similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. Certain factors could cause actual results to differ materially from those projected in these forward-looking statements, and some of these factors are enumerated in Patriot Capital Funding’s Form 10-K for the year ended December 31, 2007, and other filings with the Securities and Exchange Commission. Patriot Capital Funding undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.