3RD QUARTER 2003 NAV PRESS RELEASE

HARRIS & HARRIS GROUP, INC. LETTERHEAD




PRESS RELEASE FOR IMMEDIATE RELEASE

HARRIS & HARRIS GROUP, INC. OCTOBER 15, 2003
111 WEST 57th STREET
NEW YORK, NEW YORK 10019 CONTACT: CHARLES E. HARRIS

NASDAQ/NMS SYMBOL: TINY TEL. NO. (212) 582-0900

HARRIS & HARRIS GROUP REPORTS NET ASSET VALUE OF
$2.11 PER SHARE AS OF SEPTEMBER 30, 2003

Harris & Harris Group, Inc. announced today that at
September 30, 2003, its unaudited net asset value and net
asset value per share (NAV) were $24,225,912 and $2.11,
respectively.

Valuations of venture capital deals remain subdued,
and the pace of investment by the venture capital industry
as a whole has picked up only slightly from depressed levels,
despite the recovery in the stock market. There continue to
be ample venture capital investment opportunities in tiny
technology. Although some deals are oversubscribed, venture
capital in general, including tiny technology, remains, in
our view, essentially a buyer's market. Because tiny
technology enables so many different applications, it is
difficult to generalize about the field. But in nanotechnology
in particular, there is growing government and private funding
of research and development, and there are continual scientific,
technological and commercial developments. Notwithstanding
all of this constructive activity, we are unaware of any
privately held tiny technology companies that are currently
preparing initial public offerings or that are negotiating
to be purchased by larger corporations.

SUMMARY OF FINANCIAL RESULTS

September 30, 2003 June 30, 2003 December 31, 2002
(Unaudited) (Unaudited) (Audited)

Total Assets $34,392,032 $35,903,212 $35,951,969

Net Assets $24,225,912 $25,496,210 $27,256,046

Total Net
Income Tax
Liability $585,749 $591,055 $1,527,000

Accrued Profit
Sharing $0 $1,523 $15,233

Net Asset
Value per Share $2.11 $2.22 $2.37

Shares
Outstanding 11,498,845 11,498,845 11,498,845


Harris & Harris Group is a publicly traded venture
capital company that now makes initial investments exclusively
in tiny technology, including nanotechnology, microsystems and
microelectromechanical systems (MEMS). The Company's last 12
initial private equity investments have been in tiny-technology
enabled companies.

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.