MAY 5, 2003 NAV PRESS RELEASE
Published on May 8, 2003
PRESS RELEASE FOR IMMEDIATE RELEASE
HARRIS & HARRIS GROUP, INC. MAY 5, 2003
ONE ROCKEFELLER PLAZA
NEW YORK, NEW YORK 10020 CONTACT: CHARLES E.
HARRIS
NASDAQ/NMS SYMBOL: TINY TEL. NO. (212) 332-3606
HARRIS & HARRIS GROUP REPORTS NET ASSET VALUE OF
$2.26 PER SHARE AS OF MARCH 31, 2003
Harris & Harris Group, Inc. announced today that its
unaudited net asset value and net asset value per share (NAV) at
March 31, 2003, were $26,040,919 and $2.26, respectively.
SUMMARY OF FINANCIAL RESULTS
March 31, 2003 December 31, 2002 March 31, 2002
(Unaudited) (Audited) (Unaudited)
Total Assets $35,958,424 $35,951,969 $35,005,570
Net Assets $26,040,919 $27,256,046 $23,297,836
Total Net Income
Tax Liability $596,798 $1,527,000 $1,362,663
Accrued Profit
Sharing $1,523 $15,233 $306,241
Net Asset Value
per Share $2.26 $2.37 $2.63
Shares
Outstanding 11,498,845 11,498,845 8,864,231
Harris & Harris Group is a Business Development Company with
11,498,845 common shares outstanding.
Detailed information about Harris & Harris Group and its
holdings can be found on its website at www.TinyTechVC.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 and recent Prospectus 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.