To: StockDung who wrote (763 ) 3/28/2000 10:18:00 PM From: Sir Auric Goldfinger Read Replies (1) | Respond to of 2413
Look at this! Not to be outdone by CYBR, HRCT cuts a wireless PDA deal in China, LOL: "Hartcourt's Subsidiary, UAC Online, Releases Chinese Stock 3/28/0 9:15 (New York) Trading Applications for Palm OS and Windows CE Business Editors LONG BEACH, Calif.--(BUSINESS WIRE)--March 28, 2000--The Hartcourt Companies Inc. (OTCBB:HRCT)(FRANKFURT:HCT), www.hartcourt.com, today announced that its subsidiary, UAC Online Stock Trading, has finished development of a new stock trading application for Chinese users of the Palm Operating System and Microsoft's (Nasdaq:MSFT) Windows CE. These software programs will enable Chinese investors to trade stocks online on Hong Kong and Mainland China markets via their PDA (Personal Digital Assistant), connecting to Hartcourt's subsidiary, the financial portal SinoBull.com. The two most popular PDA's in China are currently the Palm Pilot series by 3Com (Nasdaq:COMS) using Palm OS and the Jornada series by Hewlett-Packard (NYSE:HWP), which uses the Windows CE platform. UAC Online utilizes the UAC Huaqing Shitai 162, a secure Virtual Private Network through a series of leased lines with China Telecom to transmit stock transaction data. It is the only system that enables customers to trade online nationwide, as stock trading over the Internet is discouraged by the government due to security concerns. Hartcourt's subsidiaries with partner Hua Xia Info, have co-developed the "Stock Easy" set top box in joint cooperation with Legend Computers, China's largest computer manufacturer, and Microsoft of China. These set top boxes will provide an easy and secure online trading solution through SinoBull.com, as well as Internet access, to the 80 million cable TV subscriber market. Hartcourt's partner and one of China's largest brokerages, Hua Xia Securities (China Securities Co.), will be promoting the full range of online devices connecting to SinoBull.com, to its client base, including promotional price reductions. UAC Online and SinoBull.com are also working on a WAP (wireless application protocol) portal, designed to enable investors to trade stocks through their mobile phones. Once completed, clients of SinoBull.com will be able to trade stocks, get real time quotes and access comprehensive financial data, through all mainstream online devices available in the Chinese market. In order to maintain top market position, UAC Online is expanding to provide online stock trading solutions to financial institutions across China. Thus revenues will be generated per online stock transaction whether it be through SinoBull.com, or the recently signed Guosen Securities, or another brokerage. Dr. Alan Phan, chairman and chief executive officer of Hartcourt, said: "I am very proud of the progress our Chinese subsidiaries have made over the last few months. They have worked very hard to build a top market position for SinoBull.com in China, gaining momentum day by day. Once we officially launch SinoBull.com, I foresee it being one of the most popular Web sites in China, especially as we add wireless access by mobile devices. "Due to the great interest by the company's shareholders, Hartcourt reaffirms its commitment that shareholders will be allowed to purchase SinoBull.com IPO shares at the issuing price, the amount (in proportion to number of Hartcourt shares held) and the cut-off date for this option will be announced at a later date. We are moving full speed ahead with the SinoBull.com IPO." Certain statements in this news release may constitute "forward-looking" statements within the meaning of Section 21E of the Securities and 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. --30--rs/la* KB/la CONTACT: Hartcourt Companies Inc. Dr. Alan V. Phan, 562/426-9796 KEYWORD: CALIFORNIA INTERNATIONAL ASIA PACIFIC INDUSTRY KEYWORD: INTERNET SOFTWARE COMPUTERS/ELECTRONICS TELECOMMUNICATIONS Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. URL: businesswire.com