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To: Daniel Miller who wrote (7918)	9/22/1999 10:20:00 PM
From: Mr Metals	Respond to of 9115

It trades on the pinks right now DM......I know we both HATE the pinks but it does have an awesome story...Sooner or later it will get off the pinkies, in my opinion that is.. RTOW ON THE PINKS..... NOT A BUY RECO.......DO YOUR DD REAL HARD..... MM

To: Daniel Miller who wrote (7918)	9/23/1999 9:46:00 AM
From: Mr Metals	Respond to of 9115

Check this out DM.... NEWS FOR HRCT OTC:BB Hartcourt Completes Acquisition of Financial Telecoms Ltd. Hartcourt Completes Acquisition of Financial Telecoms Ltd. LONG BEACH, Calif., Sep 22, 1999 (BUSINESS WIRE) -- The Hartcourt Companies, Inc. (OTC: HRCT) today announced that the acquisition of Financial Telecom Ltd. of Hong Kong (FTL) was completed as all the payments have been made to the escrow account. This is the first of the three Chinese Internet transactions Hartcourt is committed to acquire, in the process of becoming the leading Internet company in China. FTL is a financial databank providing real-time stock quotes and other information of Hongkong listed-companies to institutional and retail investors. FTL has been in business for 16 years and had HK$16.6 million in revenues in 1998. Another strategic acquisition, UAC Online Stock Trading Inc., is being completed as soon as the Joint Venture license is issued. UAC is the first and only E-Trade of China, utilizing the Chinapac intranet of China Telecom to connect investors to brokerage firms in China. There are 40 Million investors and 4,000. brokerage offices in China. UAC and FTL will set up an extensive financial portal (www.asianetvest.com.hk) featuring stock trading, real-time quotes, chat rooms and company databank for investors in China and Hong Kong stock markets. "It will be the first of its kind in China," Dr. Alan Phan, chairman & CEO of Hartcourt, said. "It will be modeled after Ragingbull.com and Marketwatch.com. Considering the population and the nature of the Chinese investment community, www.asianetvest.com.hk should be the top financial portal in the Chinese language." The site will be fully functional by November 1999. Dr. Phan continued: "Currently, we are very busy negotiating strategic alliances as well as merger and acquisition possibilities with bigger Internet companies, working on our investor relations program, selecting a powerful management team and Board of Directors, pushing ahead with the creation of a national ISP for China, preparing for listings on Nasdaq and other overseas exchanges etc. "However, we are committed to complete these two acquisitions first and foremost. We have completed a major step in becoming a leading Internet company in China. With UAC and FTL under our portfolio, Hartcourt will emerge as a power house in China Internet industry. "The revenues and earnings of these two Internet acquisitions alone will be sufficient to create tremendous value for our shareholders. Our plan, with the consent of the Chinese partners, is to bring this E-Finance superstar to an IPO around August 2000." Note: 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. Copyright (C) 1999 Business Wire. All rights reserved. Distributed via COMTEX. -0- CONTACT: The Hartcourt Companies Inc., Long Beach Dr. Alan V. Phan, 562/426-9796 WEB PAGE: businesswire.com GEOGRAPHY: CALIFORNIA INTERNATIONAL ASIA PACIFIC INDUSTRY CODE: INTERACTIVE/MULTIMEDIA/INTERNET COMED BANKING MERGERS/ACQ MM