Harris & Harris Group Inc.

NEWS RELEASE

HARRIS & HARRIS GROUP, INC.	June 5, 2002
ONE ROCKEFELLER PLAZA
NEW YORK, NEW YORK 10020
NASDAQ/NMS SYMBOL: TINY
CONTACT: MEL P. MELSHEIMER
TEL. NO. (212) 332-3614

HARRIS & HARRIS GROUP NOTES NEOPHOTONICS AND DOW CORNING NNOUNCE STRATEGIC ALLIANCE

Shareholders of Harris & Harris Group, Inc. may be interested to read today's joint press release from Dow Corning Corp. and NeoPhotonics Corp. that discusses the formation of a strategic partnership to develop the next generation of photonic crystal technology. The press release's list of investors in privately held NeoPhotonics includes "Small Technology Venture Capital." Although Harris & Harris Group, Inc. intends to ask its shareholders to change the Company's name to Small-Technology Venture Capital, Inc., at this year's annual meeting, the Company's name remains Harris & Harris Group, Inc. at this time.

Harris & Harris Group recently decided to focus its new business activities exclusively on small technology, including nanotechnology, microsystems and microelectromechanical systems (MEMS) technology. In 1994, Harris & Harris Group invested in its first small tech company, Nanophase Technologies Corporation, a spinoff from Argonne National Laboratory, which completed an initial public offering in 1997. Harris & Harris Group sold its interest in Nanophase in 2001 and invested part of the proceeds of the sale in August, 2001, in privately held Nantero, Inc., a Harvard University spinoff developing advanced semiconductors using nanotechnology. On February 12, 2002, Harris & Harris Group invested in NanoPharma Corp., a Massachusetts General Hospital spinoff founded to develop advanced drug delivery systems. On March 7, 2002, Harris & Harris Group invested in NanoOpto Corp. which is applying proprietary nano-optics and nano-manufacturing technology to design and make components for optical networking. On March 8, 2002, Harris & Harris Group invested in NeoPhotonics Corp., a privately held company that develops patented technology that enables the manufacture of unique nanoscale optical compositions for the telecommunications industry. On May 6, 2002, Harris & Harris Group invested in Nanotechnologies, Inc., a privately held company that develops and produces a wide variety of high-performance nanoscale materials for industry.

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.