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To: Andrew Cubides who wrote (18064)	7/20/1999 12:27:00 PM
From: Andrew Cubides	Respond to of 25711

Hartcourt to Participate in National ISP Venture in China Business Editors LOS ANGELES--(BUSINESS WIRE)--July 20, 1999--The Hartcourt Companies Inc. (OTC BB: HRCT) Tuesday announced that it has signed a Joint Venture Agreement with IPC Technology International Ltd. to establish a nationwide internet service provider in China. Hartcourt will undertake to raise $45 million in debt and equity for the joint venture, while IPC, a representative of a major Beijing Internet corporation, will provide it with a national license, an operating agreement with China Telecom, and a 200,000-subscriber base within 24 months. Both parties are committed to provide the most sophisticated technology for the system infrastructure in addition to strong strategic alliances for its marketing program. The national license will also allow the joint venture to engage in e-commerce activities and other Internet services. The joint venture will be called SINONET, and should start the operation within six months . IPC will hold 65 percent and Hartcourt will hold 35 percent of ownership in the ISP joint venture. Hartcourt has the option to purchase an additional 16 percent once the Chinese government changes its policy of foreign participation in the telecom industry, especially when China is admitted to the World Trade Organization (WTO). While there are more than 400 ISP licenses in China, less than 50 are operating and their operations are limited to the county or the city in which they are licensed. There are only four national licenses; the biggest is CHINANET, which is owned and operated by China Telecom. A national license will allow the joint venture company to operate in any county or city, making the marketing of its services easier, especially in creating brand name for SINONET. The 200,000-subscriber base will create the third-largest ISP in China. Dr. Alan Phan, chairman and chief executive officer of Hartcourt, said, "Previously, our deal with a Chinese ISP could not be completed due to the issue of management change and company liabilities. This joint venture is definitely a much better proposition. The JV will start without any liability, and will have 200,000 subscribers by year 2, guaranteed by the Chinese partner. With the explosion of Internet usage in China, the potential for SINONET to become the leading ISP of China is not far-fetched." Jansen Wong, chairman and president of IPC Technology, said, "We are delighted to work with Hartcourt management. From the beginning, we found them to be strongly committed to the goal of being the best Internet company in China. It is our same objective. The Chinese consumers will greatly benefit from this venture because we will bring the latest technology to SINONET, and a customer service program unparalleled in China." Four weeks ago, Hartcourt announced that it has signed an agreement to purchase 35% ownership in UAC Stock Trading OnLine. Phan said, "With the investment in UAC and this joint venture with IPC, Hartcourt is in a unique position to become a household name in the Asian, and perhaps the global, Internet industry." 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.

To: Andrew Cubides who wrote (18064)	7/21/1999 10:02:00 AM
From: Andrew Cubides	Read Replies (1) \| Respond to of 25711

Jul 21 1999 8:22AM SOURCE: BusinessWire (CHAT) ChatCom, Inc. Ready To Sign Agreement On New Security System Business Editors CHATSWORTH, Calif.--(BUSINESS WIRE)--July 21, 1999--ChatCom, Inc. (Nasdaq Bulletin Board:CHAT) announced today that they are on the verge of signing a license agreement with the developer of a signature verification and authorization system that is virtually foolproof. The system has never been beaten under all tests and Beta site trials. ChatCom will include the new security system with its complete line of servers with deliveries commencing in 60 to 90-days. Markets would include any requiring a high degree of security such as government agencies, banks, credit card issuers and the internet. The addition of this unique capability further enhances the already powerful and flexible ChatCom server line. The new security system will allow users to protect selected files and information from all others on the system be it internet or intranet. It will also verify credit card users and protect banks from accepting invalid checks. CEO Roche admits that IBM is the recognized leader in the server marketplace but even IBM doesn't have this technology. As one of ChatCom's board members might say "Houston we have a launch." "This is a major step forward for any server company and we are very fortunate to have this technology. I can only foresee substantially improved performance by the company," said new CEO Roche. Statements contained in this letter which are not historical facts are forward looking statements under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Although the Company believes the expectations reflected in such forward looking statements are based upon reasonable assumptions, it can give not assurances that its expectations will be attained. Forward looking statements involve known and unknown risks that could cause the Company's actual results to differ materially from expected results, including the need to raise additional capital and those risks described in the Company's various filings with the SEC, including Form 8K filed April 1999.