NEW YORK, Jun 2, 2010 (GlobeNewswire via COMTEX) --
Harris & Harris Group, Inc.
/quotes/comstock/15*!tiny/quotes/nls/tiny
(TINY
4.25,
+0.15,
+3.66%)
, announced that its Compensation Committee has cancelled
its previously scheduled meetings for the purpose of awarding stock
options pursuant to the Harris & Harris Group, Inc. 2006 Equity
Incentive Plan (the "Plan") in 2010, and will not award stock options
for at least the next year. The Compensation Committee believes this
action better aligns management's interests with our shareholders'
interests at a time when our shares are trading below net asset value
per share ("NAV"). The Compensation Committee also decided that any
future grants of options, if they occur, will not be awarded at a price
below NAV.

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 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, 2009, 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
reference to the website www.HHVC.com
has been provided as a convenience, and the information contained on
such website is not incorporated by reference into this press release.

This news release was distributed by GlobeNewswire, www.globenewswire.com

SOURCE: Harris & Harris Group

CONTACT:  Harris & Harris Group, Inc.
Douglas W. Jamison
(212) 582-0900