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Harris & Harris Group Reports Financial Statements As Of June 30, 2012

NEW YORK, Aug. 8, 2012 (GLOBE NEWSWIRE) -- Harris & Harris Group, Inc. (Nasdaq:TINY), reported today that, as of June 30, 2012, its net asset value and net asset value per share were $151,357,790 and $4.88, respectively.

         
SUMMARY OF FINANCIAL POSITION
         
  June 30, 2012 March 2012 December 31, 2011 June 30, 2011
  (Unaudited) (Unaudited) (Audited) (Unaudited)
         
Total Assets $157,864,070 $156,782,743 $150,343,653 $173,384,222
Net Assets $151,357,790 $151,726,414 $145,698,407 $168,426,152
Net Asset Value per Share $4.88 $4.89 $4.70 $5.43
Shares Outstanding 31,000,601 31,000,601 31,000,601 31,000,601
         

As of June 30, 2012, we owned an aggregate of 2,215,849 shares of Solazyme. We valued this position at $30,800,301. The key input to our valuation of Solazyme was the share price as of the close of trading on June 29, 2012, which was $13.90. At June 30, 2012, this investment represented $0.99 of our net asset value per share. As of August 7, 2012, Solazyme's closing price was $13.63 per share, and we owned 2,128,790 shares of Solazyme. At this price, our shares of Solazyme are valued at $29,015,408, or $0.94 of our net asset value per share, as of August 7, 2012.

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