May 26, 2005 (Overland Park, Kansas) - Tortoise Energy Capital Corporation (NYSE: TYY), a closed-end management investment company (the "Company"), announced today that the Securities and Exchange Commission has declared effective the Company's registration statement for an initial public offering of 14,000,000 shares of common stock at $25 per share, representing aggregate proceeds of $350 million before fees and expenses of the transaction. The underwriters have been granted an option to purchase up to 2,100,000 additional common units to cover over-allotments, if any.

The Company's common shares will begin trading today on the New York Stock Exchange (subject to notice of issuance). Lehman Brothers and Stifel, Nicolaus & Company, Incorporated acted as joint book-running managers, and, together with Wachovia Capital Markets, LLC, acted as joint lead manager for the offering. A copy of the final Prospectus relating to this offering may be obtained from the offices of Lehman Brothers Inc., c/o ADP Financial Services, Integrated Distribution Services, 1155 Long Island Avenue, Edgewood, New York, 11717; Stifel, Nicolaus & Company, Incorporated, 501 North Broadway, St. Louis, Missouri, 63102; and Wachovia Capital Markets, LLC, 301 South College Street, Charlotte, North Carolina, 28258.

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.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This press release may contain "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 differ from the Company's historical experience and its present expectations or projections. These risks include, but are not limited to, changes in economic and political conditions; regulatory and legal changes; MLP industry risk; leverage risk; valuation risk; interest rate risk; tax risk and other risks discussed in the Company'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 Company undertakes no obligation to publicly update or revise any forward-looking statements. There is no assurance that Tortoise Energy's investment objective will be attained.

Contact: 
     Tortoise Capital Advisors, LLC
     Investor Relations Dept., 913-981-1020