PRESS RELEASE
| HARRIS & HARRIS GROUP, INC. |
MAY 5, 2003 |
| ONE ROCKEFELLER PLAZA |
|
| NEW YORK, NEW YORK 10020 |
|
| NASDAQ/NMS SYMBOL: TINY |
|
| CONTACT: CHARLES E. HARRIS |
|
| 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.
Harris & Harris Group, Inc. is a Business Development Company with 11,498,845 common shares outstanding.
Detailed information about Harris & Harris Group, Inc. and its holdings can be found on its website at http://www.TinyTechVC.com.
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 |
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.
|
