Harris & Harris Group Notes HzO Receives Innovation Award

NEW YORK, Jan. 12, 2012 (GLOBE NEWSWIRE) -- Harris & Harris Group, Inc. (Nasdaq:TINY) notes that its portfolio company, HzO, Inc., was named an International Consumer Electronics Show (CES) Innovations 2012 Design and Engineering Awards Honoree in the embedded technologies category. This award honors outstanding design and engineering in consumer electronics products as judged by a panel of independent industrial designers, engineers and members of the media selected by the organizers of CES. Details on this award can be viewed at http://www.businesswire.com/news/home/20120110006702/en/Utah-Company-Winning-Accolades-Consumer-Electronics-Show and http://www.cesweb.org/awards/innovations/2012-innovations-honorees.htm.  

HzO develops proprietary nanotechnology-enabled coatings that protect electronic devices from water, humidity and other liquids. The company is displaying its technology at the CES 2012 conference in Las Vegas, Nevada, as part of a booth hosted by its partner company, ZAGG Inc. (Nasdaq:ZAGG). Examples of media coverage, including videos, of its technology can be accessed from the following sources:

• The New York Times: http://gadgetwise.blogs.nytimes.com/2012/01/11/how-to-use-an-ipod-under-water/
   
• USA Today: http://content.usatoday.com/communities/technologylive/post/2012/01/ces-2012-hzo-protects-gadgets-from-watery-deaths/1?csp=34tech&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+usatoday-TechTopStories+%28Tech+-+Top+Stories%29
   
• Forbes: http://www.forbes.com/sites/mobiledia/2012/01/11/ces-2012-waterproof-phones-inside-and-out/
   
• IT World: http://www.itworld.com/hardware/240821/ces-2012-hzo-waterproofs-phones-electronics
   
• MacWorld: http://www.macworld.com/article/164771/2012/01/new_technology_waterproofs_iphones_ipads.html

Harris & Harris Group is an early-stage, active investor in transformative nanotechnology companies. Detailed information about Harris & Harris Group and its holdings can be found on its website at www.HHVC.com.

This press release may contain statements of a forward-looking nature relating to future events. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. These statements reflect the Company's current beliefs, and a number of important factors could cause actual results to differ materially from those expressed in this press release. Please see the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2010, as well as subsequent filings, filed with the Securities and Exchange Commission for a more detailed discussion of the risks and uncertainties associated with the Company's business, including but not limited to the risks and uncertainties associated with venture capital investing and other significant factors that could affect the Company's actual results. Except as otherwise required by Federal securities laws, the Company undertakes no obligation to update or revise these forward-looking statements to reflect new events or uncertainties. The references to the websites www.HHVC.com, www.businesswire.com, www.cesweb.org, www.nytimes.com, www.usatoday.com, www.forbes.com, www.itworld.com and www.macworld.com have been provided as a convenience, and the information contained on such website is not incorporated by reference into this press release.  Harris & Harris Group is not responsible for the contents of third party websites.

CONTACT: Douglas W. Jamison
         Harris & Harris Group, Inc.
         Chairman and Chief Executive Officer
         (212) 582-0900

Released January 12, 2012