Firsthand Technology Value Fund Discloses Top Portfolio Holdings

Firsthand Technology Value Fund Discloses Top Portfolio Holdings

SAN JOSE, Calif., Dec. 4, 2012 (GLOBE NEWSWIRE) -- Firsthand Technology Value
Fund, Inc. (Nasdaq:SVVC) (the "Fund"), a publicly-traded venture capital fund
that invests in technology and cleantech companies, disclosed today that its
top five holdings as of November 30, 2012 were Facebook, Twitter, SolarCity,
Pivotal Systems, and Gilt Groupe.

1.Facebook, Inc. (Nasdaq:FB) is an online social networking service with
    more than 1 billion monthly active users worldwide. As of November 30,
    2012, the Fund's investment in Facebook consisted of 600,000 shares of
    common stock and represented approximately 8.3% of the Fund's estimated
    gross assets*.
    
2.Twitter, Inc. is an online social networking service that lets users send
    and receive 140-character messages ("tweets"). As of November 30, 2012,
    the Fund's investment in Twitter consisted of 154,000 shares of preferred
    stock and 727,200 shares of common stock and represented approximately
    7.5% of the Fund's estimated gross assets*.
    
3.SolarCity Corp. is a leading installer of commercial and residential solar
    photovoltaic systems. The company filed an S-1 registration statement with
    the SEC on October 5, 2012, announcing its intention to go public. As of
    November 30, 2012, the Fund's investment in SolarCity consisted of 426,300
    shares of common stock and represented approximately 3.6% of the Fund's
    estimated gross assets*.
    
4.Pivotal Systems Corp. provides monitoring and process control technologies
    for the semiconductor manufacturing industry. As of November 30, 2012, the
    Fund's investment in Pivotal consisted of 4,765,876 shares of preferred
    stock and represented approximately 2.0% of the Fund's estimated gross
    assets*.
    
5.Gilt Groupe Holdings, Inc. is a leader in online "flash sales" of designer
    merchandise at discount prices. As of November 30, 2012, the Fund's
    investment in Gilt Groupe consisted of 198,841 shares of common stock and
    represented approximately 1.9% of the Fund's estimated gross assets*.

As of November 30, 2012, the Fund's top five holdings constituted 23.4% of the
Fund's estimated gross assets*. The Fund held approximately $146 million, or
$17.08 per share, in cash, as of that date. Complete financial statements and
a detailed schedule of investments for the period ended September 30, 2012 are
available on the Fund's website at www.firsthandtvf.com.

About Firsthand Technology Value Fund

Firsthand Technology Value Fund, Inc. is a publicly-traded venture capital
fund that invests in technology and cleantech companies. More information
about the Fund and its holdings can be found online at www.firsthandtvf.com.

*Estimated gross assets as of November 30, 2012 represent preliminary gross
assets of approximately $197 million as of September 30, 2012 plus the net
change in unrealized appreciation/depreciation of publicly-traded securities
since September 30, 2012. For the purposes of calculating the percentage of
gross assets represented by each investment, the value of each holding is
determined by the most recent of: (1) the purchase price, (2) the market value
for public securities, less any discounts taken due to restrictions on the
stock, or (3) the September 30, 2012 fair value of each security, as
determined by our Board of Directors.

The Fund is a non-diversified, closed-end investment company that elected to
be treated as a business development company under the Investment Company Act
of 1940. The Fund's investment objective is to seek long-term growth of
capital. Under normal circumstances, the Fund will invest at least 80% of its
total assets for investment purposes in technology and cleantech companies.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This press release
contains "forward-looking statements" as defined under the U.S. federal
securities laws. Generally, the words "believe," "expect," "intend,"
"estimate," "anticipate," "project," "will," and similar expressions identify
forward-looking statements, which generally are not historical in nature.
Forward-looking statements are subject to certain risks and uncertainties that
could cause actual results to materially differ from the Fund's historical
experience and its present expectations or projections indicated in any
forward-looking statement. These risks include, but are not limited to,
changes in economic and political conditions, regulatory and legal changes,
technology and cleantech industry risk, valuation risk, non-diversification
risk, interest rate risk, tax risk, and other risks discussed in the Fund's
filings with the SEC. You should not place undue reliance on forward-looking
statements, which speak only as of the date they are made. The Fund undertakes
no obligation to publicly update or revise any forward-looking statements made
herein. There is no assurance that the Fund's investment objectives will be
attained. We acknowledge that, notwithstanding the foregoing, the safe harbor
for forward-looking statements under the Private Securities Litigation Reform
Act of 1995 does not apply to investment companies such as us.

CONTACT: Heather Hohlowski
         Firsthand Capital Management, Inc.
         (408) 624-9525
         vc@firsthandtvf.com

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