Harris & Harris Group Notes D-Wave Systems' New Equity Round of Financing

NEW YORK, Oct. 4, 2012 (GLOBE NEWSWIRE) -- Harris & Harris Group, Inc. (Nasdaq:TINY), an early-stage, active investor in transformative nanotechnology companies, notes today's announcement by D-Wave Systems, Inc., that it has closed a $30 million round of equity funding with Bezos Expeditions and In-Q-Tel joining current D-Wave investors, including Harris & Harris Group, Business Development Bank of Canada, Draper Fisher Jurvetson, Goldman Sachs, Growthworks, International Investment and Underwriting and Kensington Partners Limited. D-Wave will use the new funding to augment its commercial operations and further increase its capabilities to provide solutions to its customers through development of quantum computing applications. D-Wave Systems' press release may be accessed at http://finance.yahoo.com/news/d-wave-systems-inc-worlds-110000845.html.

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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, 2011, 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 and http://finance.yahoo.com have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. Harris & Harris Group is not responsible for the contents of third party websites.

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Released October 4, 2012