Harris & Harris Group Reports Financial Statements as of September 30, 2009

Download as PDF

NEW YORK, Nov. 6, 2009 (GLOBE NEWSWIRE) -- Harris & Harris Group, Inc. (Nasdaq:TINY) reported today that, as of September 30, 2009, its net asset value and net asset value per share were $111,532,206 and $4.30, respectively. 


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


                 Sept. 30,      June 30,      Dec. 31,      Sept. 30,
                   2009          2009           2008          2008
                (Unaudited)   (Unaudited)    (Audited)     (Unaudited)

 Investments,
  in Public
  and Private
  Portfolio
  Companies,
  at Value      $ 70,049,615  $ 63,959,811  $ 56,965,153  $ 63,942,445

 Investments,
  in U.S.
  Treasury
  Obligations,
  at Value      $ 66,971,440  $ 46,395,504  $ 52,983,940  $ 57,032,781

 Total Assets   $139,136,433  $112,355,847  $111,627,601  $123,076,500

 Net Assets     $111,532,206  $110,412,973  $109,531,113  $121,113,660

 Net Asset
  Value per
  Share         $       4.30  $       4.27  $       4.24  $       4.68

 Shares
  Outstanding     25,966,758    25,859,573    25,859,573    25,859,573

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, including articles on nanotechnology, cleantech and venture capital, 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, 2008, the Company's report on Form 10-Q for the quarter ended September 30, 2009 and 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, 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
          Douglas W. Jamison
          (212) 582-0900

Released November 6, 2009