Hartcourt Confirms Extension of Holding Period for 144 Shares
LOS ANGELES, CA -- (MARKET WIRE) -- 03/02/2004 -- The Hartcourt Companies, Inc. (OTC BB: HRCT) (Frankfurt: 900009), www.hartcourt.com, announced today that major shareholders including Enlight Group and former Huaqing shareholders have confirmed that they will honor the agreement to extend the holding period of 55 million restricted shares for another year, as previously announced. Some HuaQing shareholders have filed Form 144 in errors and Hartcourt has not released the restriction on these shares.
About Hartcourt
The Hartcourt Companies, Inc. is one of China's fastest growing companies in the IT distribution, retail and services sector. Hartcourt's growth strategy is to acquire controlling interests in profitable companies with proven management within this sector in key geographical areas of China. Recent acquisitions of Hartcourt included seven key IT distribution, retail and services companies covering all major regions of China that have highest GDP-per-capita. Detailed information on Hartcourt can be obtained from: www.hartcourt.com.
Forward-looking statements
The statements made in this press release, which are not historical facts, contain certain forward-looking statements concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward-looking statement.
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Contact:
Ms. TingTing Ni
Tel: 8621 5213 8810
Fax: 8621 5213 8870
Email: ir@hartcourt.com
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