PRESS RELEASE
Published on December 24, 2003
PRESS RELEASE FOR IMMEDIATE RELEASE
HARRIS & HARRIS GROUP, INC. DECEMBER 24, 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, INC. ANNOUNCES
FOLLOW-ON PUBLIC OFFERING OF 2,000,000 SHARES OF
COMMON STOCK AT $8.00 PER SHARE
Harris & Harris Group, Inc. (NASDAQ: TINY), today announced
that it has priced a follow-on public offering of 2,000,000
shares of its common stock. All of the shares are being sold by
the Company. We intend to use the net proceeds of the offering
to make new investments in tiny technology as well as follow-on
investments in our existing venture capital investments, and for
working capital. The shares are being offered through the
underwriter Punk, Ziegel & Company, LP. A copy of the final
prospectus related to the offering can be obtained from Punk,
Ziegel & Company, LP by calling 212-308-9494.
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, prior to this
offering.
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.