PRESS RELEASE
| HARRIS & HARRIS GROUP, INC. |
APRIL 23, 2002 |
| ONE ROCKEFELLER PLAZA |
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| NEW YORK, NEW YORK 10020 |
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| NASDAQ/NMS SYMBOL: TINY |
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| CONTACT: CHARLES E. HARRIS |
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| TEL. NO. (212) 332-3606 |
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HARRIS & HARRIS GROUP REPORTS NET ASSET VALUE OF $2.63 PER SHARE AS OF MARCH 31, 2002
Harris & Harris Group, Inc. announced today that its unaudited net asset value and net asset value per share (NAV) at March 31, 2002 were $23,297,836 and $2.63, respectively.
SUMMARY OF FINANCIAL RESULTS
|
March 31, 2002 |
December 31, 2001 |
March 31, 2001 |
|
(Unaudited) |
(Audited) |
(Unaudited) |
| Total Assets |
$35,005,570 |
$39,682,367 |
$30,814,330 |
| Net Assets |
$23,297,836 |
$24,334,770 |
$28,036,135 |
| Total Income Tax Liability |
$1,362,663 |
$1,619,538 |
$1,364,470 |
| Net Asset Value per Share |
$2.63 |
$2.75 |
$3.09 |
| Shares Outstanding |
8,864,231 |
8,864,231 |
9,064,231 |
Harris & Harris Group is a publicly traded venture capital company organized as a Business Development Company. Harris & Harris Group has 8,864,231 common shares issued and outstanding.
Detailed information about Harris & Harris Group and its holdings can also be found on its website at www.hhgp.com.
This press release may contain statements of a forward-looking nature relating to future events. Statements contained in this press release that are forward looking statements are intended to be made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. 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 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.
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