Hartcourt Subsidiary StreamingAsia.com to Host Web Site of Leading Chinese Motion Picture
LOS ANGELES, Jun 2, 2000 (BUSINESS WIRE) -- The Hartcourt Companies Inc. (OTC:HRCT)(Frankfurt:HCT), www.hartcourt.com, today announced that StreamingAsia.com, owned by its SinoBull.com subsidiary, will provide movie trailers and highlight segments via the Internet to the fans of one of Hong Kong's most distinctive filmmakers.
StreamingAsia, a leader in integrated media solutions, will provide the rich media presence and manage the official Web site of the movie "In the Mood for Love."
"In the Mood for Love" star Tony Leung was awarded Best Male Performance at the 2000 Cannes Film Festival, and the film, directed by Wong Kar-Wai won the Grand Prix for Technique.
Hartcourt owns about 48% of SinoBull, which owns StreamingAsia.com, the leading service provider for Internet audio and video solutions in Asia. Sinobull.com, through its subsidiaries, has already been averaging approximately 1.6 million page views per day since its launch on March 1, 2000.
Patrick Kwan, President of StreamingAsia.com, said "StreamingAsia.com is honored to have been selected by 'In the Mood for Love' to provide streaming media and Web site management. Due to the worldwide appeal of Wong Kar-Wai and Tony Leung, this site is likely to be one of the most visited Internet streaming audio and video sites in Hong Kong."
"StreamingAsia has once again shown it is the company of choice to first tier clients including world class entertainers and motion picture production companies," said Michael Bianco, President and Chief Executive Officer of the SinoBull. "We congratulate both Mr. Leung and Mr. Wong Kar-Wai for their respective achievements. Through the development of our capabilities and work of our creative staff, StreamingAsia continues to be a leader in expanding the SinoBull online services to leading companies based in Greater China."
Mr. Bianco pointed out that with high profile clients such as E!Online Tricast and director Wong Kar-Wai, StreamingAsia provides the type of leading edge integrated media and Web development solutions for the expanding television and film industries into the Web-Generation.
With the recent completion of the LogicSpace acquisition, StreamingAsia continues to expand operations as it seeks to provide solutions for an Asian film and entertainment industry that is gaining U.S. attention, and U.S. movies are trying to gain additional access to Asian markets. For American films, U.S. permanent trade relations with China include provisions to double the number of foreign films China allows in its theaters under a revenue-sharing agreement.
About StreamingAsia
StreamingAsia (www.streamingasia.com) provides content publishers Web portals with services for the delivery of "streaming" or live and on-demand video and audio content over the Internet. StreamingAsia is a wholly owned subsidiary of SinoBull Group and is responsible for the design, operation and maintenance of SinoBull Group's Web site.
About Hartcourt
The Hartcourt Companies is a holding and development company that is building a network of Internet and telecommunication service companies in The People's Republic of China (China), including Hong Kong, in partnership with Chinese entrepreneurs as well as Chinese government-owned entities.
Its mission is to become one of the leading broadband applications infrastructure providers in Asia, including the development of broadband networks and vertical market focused content for broadband and wireless applications. Detailed information on Hartcourt and its major subsidiary SinoBull, which has developed a financial services Web portal and a platform providing secure online stock trading for major brokerage firms in China, may be obtained via the company's Web site, www.hartcourt.com.
Forward-looking statements
Certain statements in this news release may constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements involve risks, uncertainties and other factors, which may cause the actual results, performance or achievement expressed or implied by such forward-looking statements to differ materially from the forward-looking statements.
The Financial Relations Board, Inc. serves as financial relations counsel to this company and is acting on the Company's behalf in issuing this bulletin and receiving compensation therefor. The information contained herein is furnished for information purposes only and is not to be construed as an offer to buy or sell securities.
CONTACT: The Hartcourt Companies Inc., Los Angeles
Jack Westfield, 310/410-7290
or
The Financial Relations Board
310/442-0599
Kristen Kopay (investors/analysts)
Carl Dameron (media)
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