Harris & Harris Group Elects Lori Pressman to Board of Directors
Harris & Harris Group, Inc. announced today that its Board of Directors has expanded its size from nine to ten and has elected Lori D. Pressman to fill the vacancy thus created.
Ms. Pressman, a self-employed business consultant, provides advisory services to start-ups and venture capital companies. Among other projects for Harris & Harris Group, she has served as a consultant to the Company in its due diligence work on Nantero, Inc., Nanopharma Corp and, NEO Photonics Corporation. From September 1989 to July 2000, she was employed by the Massachusetts Institute of Technology in the Technology Licensing Office, serving as Technology Licensing Officer from 1989 to 1995 and Assistant Director from 1996 to 2000. From September 1984 to September 1989, she was Senior Development Engineer at Lasertron, Inc. From November 1983 to September 1984, she was employed by the American Lung Association. From 1980 to 1982, she was a Member of Solid State Materials Research Laboratory at Bell Laboratories. She is Chair of the Survey Statistics and Metrics Committee of the Association of University Technology Managers for which she edited the recent report on Academic Technology Transfer of 190 U.S. and Canadian Institutions. Ms. Pressman was graduated from the Massachusetts Institute of Technology, Physics (S.B.), and the Columbia School of Engineering (MSEE).
The recent additions of Ms. Pressman and Dr. Kelly S. Kirkpatrick to the Board of Directors reflect Harris & Harris Group's decision to focus its new business activities exclusively on small technology (small tech), including nanotechnology, microsystems technology 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 company developing advanced seminconductors using nanotechnology. In February, 2002, the Company invested in privately held Nanopharma Corp., a research-based company founded to develop advanced drug delivery systems. On March 13, 2002, Harris & Harris Group also noted its investment in NEO Photonics Corporation, a privately held producer of novel materials compositions to enable a unique optical integration platform.
Harris & Harris Group is a Business Development Company with 8,864,231 common shares 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.