First Capital News

For Immediate Release
Media Contact:
Glen Stein
Executive Vice President & Chief Financial Officer
First Capital Issues $100 Million of Unsecured Notes due 2015 in the High Yield Market

BOCA RATON, Florida, January 4, 2011 – First Capital Holdings, Inc. (together with its subsidiaries "First Capital") announced that two of its subsidiaries issued $100.0 million in aggregate principal amount of Senior Notes due 2015 in a private placement that closed on December 21, 2010. The net proceeds from the offering of the notes were used to repay certain outstanding indebtedness and for general corporate purposes.

"This new unsecured debt is an important element of our ongoing growth strategy," said Lee Wilson, Chief Executive Officer of First Capital. "We are focused on making new loans to new clients in 2011."

“The issuance of these high yield bonds completes the final part of our 2010 funding strategy,” said Glen Stein, Chief Capital Markets Officer of First Capital. “In March, we closed our first term securitization with a $100 million issuance. In May, we raised $139 million of equity. During the year, we renewed or extended $585 million of senior credit facilities. Now, these high yield bonds provide First Capital with stable unsecured debt for 5 years at an attractive fixed rate and with favorable terms.”

The notes were not, and will not be, registered under the Securities Act of 1933, as amended (the “Act”). The First Capital co-issuers were FCC Holdings, LLC and its wholly-owned subsidiary, FCC Holdings Finance Subsidiary, Inc.

About First Capital

First Capital is a specialized commercial finance company positioned to enable entrepreneurs to achieve their goals through working capital loans typically ranging from $3-$15 million in the form of Asset Based Lending and Factoring.  Our commitment is to build long-lasting, mutually-beneficial relationships with clients and their advisors.  Headquartered in Boca Raton, Florida, the firm has additional full-service offices in New York, Los Angeles, Atlanta and Oklahoma City with sales offices located across the United States.

Forward-Looking Information

This press release contains “forward-looking” statements.  Forward-looking statements reflect current expectations and projections about future events, and thus involve uncertainty and risk.  It is possible that future events, including whether the offering is completed on the terms specified or at all, may differ from expectations due to a variety of risks and other factors such as market conditions. It is not possible to foresee or identify all such factors.  Any forward-looking statements in this press release are based on certain assumptions and analyses made in light of First Capital’s experience and perception of historical trends, current conditions, expected future developments, and other factors it believes are appropriate in the circumstances.  Forward-looking statements are not a guarantee of future performance and actual results or developments may differ materially from expectations.  First Capital does not intend to update any particular forward-looking statements contained in this press release. This announcement does not constitute an offer to sell, or the solicitation of offers to buy, any security.