Harris & Harris Group announced today that nFX Corporation has named Mr. Joel Voelz as its new President and CEO. Mr. Charles E. Harris, the Chairman and CEO of Harris & Harris Group, has been serving as Chairman and CEO of nFX. Mr. Harris will continue as Chairman of nFX. Mr. Mel P. Melsheimer, a consultant to Harris & Harris Group, who has been serving as President of nFX, will become a director of nFX.

Mr. Voelz is a graduate of the Massachusetts Institute of Technology (BS, 1975) and the University of Chicago (MBA, 1978). From 1993 to the present, he has acted as an independent consultant to software and on-line service firms, focusing on multimedia and interactive services, through his firm, Talos/Venture Acceleration. His clients have included Spectrum Holobyte, AT&T and (Colossal) Pictures. From 1990 to 1993, he served as General Manager of the Scientific Modeling Division and from 1986 to 1989 as Director of Corporate Marketing for Autodesk, Inc. From 1984 to 1986 he served as cofounder and manager of marketing and business development of Trinzic Corporation. From 1978 to 1984, he served in varying capacities for Texas Instruments, including: Manager, Business and Market Development in the Consumer Electronics Group, Portable and Educational Products; Manager, Marketing Strategy in Texas Instruments’ Corporate Development Group; and marketing and planning positions in T.I.’s Semiconductor Group.

Mr. Voelz will be introduced to the shareholders of nFX at its annual meeting on January 10, 1996. At that time, nFX will outline its progress toward its strategy of targeting its MIT- patented and exclusively licensed software for interactive on-line products, graphical user interfaces, and interactive graphics. In particular, nFX believes that its proprietary technology has important advantages for user-controlled interactive animations and graphics for the Internet, on-line services, and multimedia title development.

At the shareholders' meeting, nFX intends to review its progress in 1995 towards its goal of moving from technology development to commercialization of the technology. The shareholders will be informed that a central focus of nFX is to develop and provide software products for interactive, real-time, user-controlled graphics and animation for the Internet, on-line services and other multimedia vehicles. Among other things, nFX intends to enable its Viewer to be used seamlessly with Web browsers, giving users the ability to create and manipulate graphics and animations in real-time. nFX believes that its technology has the potential to allow Web browsers to:

nFX is a development stage company headquartered in Santa Clara, California, which was incorporated and began commercial software development in 1993. To date, its revenues have been derived primarily from technology development contracts with major corporations and government contracts.

Harris & Harris Group owns approximately 37.5% on nFX on a fully diluted basis.

Harris & Harris Group is a Business Development Company with 10,333,902 common shares issued and outstanding.

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