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Harris & Harris Group Notes the Completion of Contour Energy Systems Series C Financing

Harris & Harris Group, Inc. notes that Contour Energy Systems, Inc. announced it has successfully raised over $20 million in a Series C round of financing, with new investor, SBI Jefferies Asia Fund LP, joining existing investors, Harris & Harris Group, CMEA Capital, Schlumberger, U.S. Venture Partners and EDBI. The proceeds from this financing are expected to support further expansion of Contour Energy's research and development efforts in carbon-fluoride chemistries that aim to significantly increase the energy and power densities of next-generation primary and rechargeable batteries targeting applications in consumer, industrial, medical, military and specialty markets worldwide. Contour Energy also intends to expand production capacity and allocate working capital in support of projected sales growth.

Harris & Harris Group first announced its investment in the Series C financing on June 21, 2011. The Company participated in this financing with an investment of $720,000, bringing its total investment at cost in Contour Energy to $4.029 million. Contour Energy's press release may be accessed at

Harris & Harris Group is a publicly traded venture capital company that invests in nanotechnology and microsystems. Detailed information about Harris & Harris Group and its holdings can be found on its website at

This news 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 news release. Please see the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2010, as well as subsequent filings, 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, the Company undertakes no obligation to update or revise these forward-looking statements to reflect new events or uncertainties. The references to the websites and have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this news release. Harris & Harris Group is not responsible for the content of third party websites.

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