Harris & Harris Group Announces Alexei A. Andreev to Join Company

    Business Editors

    NEW YORK--(BUSINESS WIRE)--Feb. 28, 2005--Harris & Harris Group, Inc., announced today that Alexei A. Andreev has agreed to join the Company in mid-March as an Executive Vice President and a Managing Director. Mr. Andreev is an Associate with Draper Fisher Jurvetson. He will establish and direct the activity of a new Northern California office for Harris & Harris Group. In addition, Mr. Andreev will be one of the Company's four decision makers with respect to all of its venture capital investments along with Charles E. Harris, Douglas W. Jamison and Daniel V. Leff, and Mr. Andreev will be involved in the Company's strategic direction along with the Company's other senior officers.
    Prior to joining Draper Fisher Jurvetson, Mr. Andreev worked for TLcom Capital Partners, a London-based venture capital fund. In addition, he previously was an Associate with Renaissance Capital Group/Sputnik Funds, a large private equity venture capital fund in Moscow. He was also a researcher at the Centre of Nanotechnology, Isan, in Troitsk, Russia, at the Laboratory of Nanophysics. Mr. Andreev received his Ph.D. degree from the Moscow Steel and Alloys Institute. He also received an M.B.A. from the Stanford Graduate School of Business, and a B.S. with honors in Engineering/Material Sciences from the Moscow Steel and Alloys Institute. He was the recipient of the Scholarship for the Most Promising Young Scientist from the Russian Academy of Sciences, the State Scientific Scholarship for Outstanding Young Scientists, the Scholarship from the International Center of Fundamental Physics and the Soros Science Foundation Graduate Scholarship.
    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 22 initial private equity investments have been in tiny-technology enabled companies.
    Harris & Harris Group is a business development company with 17,248,845 common shares outstanding.
    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 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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CONTACT: Harris & Harris Group, Inc., New York Charles E. Harris, 212-582-0900

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