PRESS RELEASE
Published on July 22, 2003
PRESS RELEASE FOR IMMEDIATE RELEASE
HARRIS & HARRIS GROUP, INC. JULY 22, 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
$2.22 PER SHARE AS OF JUNE 30, 2003
Harris & Harris Group, Inc. announced today that its
unaudited net asset value and net asset value per share (NAV)
at June 30, 2003, were $25,496,210 and $2.22, respectively.
SUMMARY OF FINANCIAL RESULTS
June 30, 2003 March 31, 2003 December 31, 2002
(Unaudited) (Unaudited) (Audited)
Total Assets $35,903,212 $35,958,424 $35,951,969
Net Assets $25,496,210 $26,040,919 $27,256,046
Total Net Income
Tax Liability $591,055 $596,798 $1,527,000
Accrued Profit
Sharing $1,523 $1,523 $15,233
Net Asset Value
per Share $2.22 $2.26 $2.37
Shares
Outstanding 11,498,845 11,498,845 11,498,845
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.