OVERLAND PARK, Kan. - January 31, 2006 - Tortoise Energy Capital Corp. (NYSE: TYY), today announced it has successfully completed an offering of Series I Money Market Cumulative Preferred Shares (MMP Shares) raising a total of $70 million before fees and expenses of the transaction. The MMP Shares are rated "Aa2"and "AA" by Moody's Investor Services, Inc. and Fitch Ratings, respectively.

Lehman Brothers Inc. acted as book running manager and A.G. Edwards & Sons, Inc., Oppenheimer & Co. Inc., Stifel, Nicolaus & Company, Incorporated and Wachovia Capital Markets, LLC also participated as underwriters for the offering. MMP Shares may only be bought or sold through an auction or in a secondary market maintained by certain broker-dealers. There is no assurance that such market will be maintained.

Following the issuance of the Series I MMP Shares, the total assets of Tortoise Energy Capital Corp. are approximately $575 million. The issuance of the MMP Shares completes the Company's initial leverage plans.

The Company intends to use the net proceeds of the offering to fully repay all outstanding indebtedness under the Company's revolving credit facility and will invest the proceeds in accordance with its investment objectives and policies. Additionally, Tortoise Energy Capital has entered into swap agreements with respect to $40 million of the MMP Shares which fix the borrowing costs of $20 million through 2013, and the remainder through 2018. The weighted average borrowing cost is approximately 5.2 percent including marketing fees. The company utilizes interest rate swaps to fix its leverage cost. This has the benefit of eliminating the potential impact of increasing short-term interest rates during the swap term.

These swap agreements are in addition to the swap agreements already in place for the Company's $120 million of Series A & B Auction Rate Senior Notes. Further, the Company intends to enter into additional swap agreements in order to fix its borrowing costs for the remainder of the Tortoise MMP Shares, effectively fixing the borrowing costs on all debt and preferred stock.

About Tortoise Energy Capital
Tortoise Energy Capital Corp. provides financing primarily for master limited partnerships in the energy infrastructure sector. Tortoise Energy Capital's goal is to provide its shareholders with a high level of total return with an emphasis on current distributions to stockholders.

About Tortoise Capital Advisors
Tortoise Capital Advisors, LLC, the adviser to Tortoise Energy Capital Corp., is a pioneer in capital markets for investment companies and separately managed accounts focused on MLPs in the energy infrastructure sector. Tortoise Capital Advisors also serves as the adviser to Tortoise Energy Infrastructure Corp. (NYSE: TYG) and Tortoise North American Energy Corp (NYSE: TYN). To date, the adviser has approximately $1.5 billion of energy infrastructure investment assets under management. For more information, visit our website at www.tortoiseadvisors.com.

Safe Harbor Statement
This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.

Contact information
Tortoise Capital Advisors, LLC
Pam Kearney, Investor Relations
(913) 322-5839
pkearney@tortoiseadvisors.com