Harris & Harris Group Reports Financial Statements as of March 31, 2009

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NEW YORK, May 8, 2009 (GLOBE NEWSWIRE) -- Harris & Harris Group, Inc. (Nasdaq:TINY) reported today that, as of March 31, 2009, its net asset value and its net asset value per share (NAV) were $109,215,327 and 4.22, respectively. 



                  SUMMARY OF FINANCIAL RESULTS
                  ----------------------------

                                   March 31,     Dec. 31,     March 31,
                                     2009          2008         2008
                                 (Unaudited)    (Audited)   (Unaudited)

 Investments, in Private
 Portfolio Companies, at Value  $58,793,688  $56,965,153   $83,097,863

 Investments, in U.S. Treasury
 Obligations, at Value          $51,340,811  $52,983,940   $53,589,100

 Total Assets                  $111,210,138 $111,627,601  $140,772,639

 Net Assets                    $109,215,327 $109,531,113  $136,541,289

 NAV                                  $4.22        $4.24         $5.86

 Shares Outstanding              25,859,573   25,859,573    23,314,573

Harris & Harris Group is a publicly traded venture capital company that invests in nanotechnology and microsystems.

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 year ended December 31, 2008, as well as subsequent SEC 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, Harris & Harris Group, Inc., undertakes no obligation to update or revise these forward-looking statements to reflect new events or uncertainties. The reference to the website www.HHVC.com has been provided as a convenience, and the information contained on such website is not incorporated by reference into this press release. 

CONTACT:  Harris & Harris Group, Inc.
          Douglas W. Jamison
          (212) 582-0900

Released May 8, 2009