Harris & Harris Group Notes Cobalt Technologies' New Equity Round of Financing

Harris & Harris Group Notes Cobalt Technologies' New Equity Round of Financing

NEW YORK, Nov. 1, 2012 (GLOBE NEWSWIRE) -- Harris & Harris Group, Inc.
(Nasdaq:TINY), an early-stage, active investor in transformative
nanotechnology companies, notes the announcement by Cobalt Technologies, Inc.,
that Bunge Global Innovation LLC, a wholly-owned subsidiary of global
agribusiness and food company Bunge Limited ("Bunge"), has joined its Series E
Preferred Stock round as a strategic investor.

The investment follows Cobalt's agreement with Bunge and specialty chemicals
company Rhodia Poliamida e Especialidades Ltda. ("Rhodia") to operate a pilot
plant demonstrating the production of n-butanol utilizing sugarcane bagasse as
feedstock at the Laboratório Nacional de Ciência e Tecnologia do Bioetanol
facility in Campinas, Brazil. The terms of the agreement also provide for the
parties to work together on co-location of a demonstration scale facility and
to consider co-location of a commercial-scale biorefinery at a Bunge sugarcane
mill.N-butanol is a widely used industrial chemical found in paints, lacquers
and other surface coatings. Cobalt's press release may be accessed at
http://www.cobalttech.com/news/news-item/cobalt-technologies-adds-bunge-as-strategic-investor/.

All institutional investors from previous rounds participated in the Series E
Preferred financing, including Pinnacle Ventures, Malaysian Life Sciences
Capital Fund, VantagePoint Capital Partners, The Whittemore Collection, Ltd.,
Life Sciences Partners (LSP), @Ventures and Harris and Harris Group.

Detailed information about Harris & Harris Group and its holdings can be found
on its website at www.HHVC.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 for the fiscal
year ended December 31, 2011, 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
www.HHVC.com and www.cobalttech.com have been provided as a convenience, and
the information contained on such websites is not incorporated by reference
into this press release.Harris & Harris Group is not responsible for the
contents of third party websites.

CONTACT: DOUGLAS W. JAMISON
         TEL. NO. (212) 582-0900
 
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