NEWSWEEK ARTICLE ON SILICON VALLEY
The cover article in the current issue of Newsweek, dated March 25, 2002, is entitled, "Welcome Back to Silicon Valley, How the Dot-Com Crash Saved Technology." Pages 45 and 46 of this article mention Nantero. Page 46 also mentions nanotechnology.
In August 2001, Harris & Harris Group invested in privately held Nantero, Inc., a spinoff of Harvard University, which is developing a high density nonvolatile random access memory chip using nanotechnology. More recently, Harris & Harris Group decided to focus all of its new business activities on small tech and announced investments in two other privately held companies, Nanopharma, Inc. and NeoPhotonics Corp. Nanopharma is a spinoff of Massachusetts General Hospital which is developing fully biodegradable nanoscopic drug delivery vehicles based on proprietary molecular constructs and "biological stealth" materials. NeoPhotonics Corp. develops and manufactures advanced planar optical devices by monolithically integrating active and passive optical materials using the company's proprietary nanomaterials-based process solutions.
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.