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Microcap & Penny Stocks : The Hartcourt Companies, Inc. (HRCT) -- Ignore unavailable to you. Want to Upgrade?

To: SinoKnowledge who wrote (953)	5/22/2000 8:49:00 AM
From: Investorman	Read Replies (1) \| Respond to of 2413

Hartcourt Subsidiary Sinobull.com Completes Acquisition of 50% Interest of Shanghai Guo Mao; Agreement is a Prelude to a 100% Merger of the Two Entities LOS ANGELES, MAY 22, 2000 (BUSINESS WIRE) -- The Hartcourt Companies Inc. (OTC:HRCT) (Frankfurt:HCT (www.hartcourt.com) today announced that its subsidiary, Sinobull.com, has completed the acquisition of 50% of China's leading provider of real-time financial data for futures, indexes and commodities trading, Guo Mao, with headquarters in Shanghai. This is a continuing step in an agreement that calls for 100% of Guo Mao and four other operating companies controlled by Hartcourt, and Sinobull.com to be rolled up into one holding company called Sinobull.com. The other entities are Financial Telecom Ltd., Streaming Asia Ltd., UAC Stock Exchange On-Line Ltd., and Shangdi Network. Management's objective is to use these collective assets to create the first nationwide online securities trading platform and a premier financial Web site portal in China. Sinobull.com's Web site was soft-launched on March 1, 2000, and is currently averaging 1.6 million daily page views with minimal advertising or promotion. Hartcourt owns about 48% of Sinobull.com. Hartcourt Chief Operating Officer Dr. Charlie Yang said: "This is a critical event in the building of what we believe will be a leading source of financial information, stock trading and e-commerce in China. Having the sophistication and resources of Guo Mao as part of Sinobull.com gives Sinobull.com capabilities that simply do not exist anywhere else. "When you add these capabilities to such other parts of Sinobull.com as UAC Stock Exchange Online, the key financial information and analysis resources of Shangdi Network, and the financial data bank and wireless information services of Financial Telecom, Sinobull.com represents a uniquely powerful Chinese financial portal. "When you add the recently acquired streaming video and audio content capabilities of Streaming Asia, Sinobull.com is very well positioned to lead the nationwide marketplace." About Shanghai Guo Mao Guo Mao is principally engaged in the business of developing financial content for broadcast over existing TV channels and networks in China. The company's programs cover information relating to Chinese and other Southeast Asian markets, as well as those in Europe and the United States. Guo Mao is also the leading provider of real-time financial information to securities brokers, financial institutions, corporations, financial service companies and serious individual investors in China. Guo Mao has additional expertise in covering futures-based and foreign exchange markets. In mid-1999, the company launched the advanced "Guo Mao 2000" data service to provide enhanced services to its expanding roster of clients. The company also develops financial-related software dealing with real-time quotes, market analysis, market trend analysis and financial risk management. 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 young Chinese entrepreneurs as well as Chinese government-owned entities. Its mission is to become one of the leading Internet and broadband wireless companies in Asia. It recently participated in the launch of a comprehensive financial Web site portal called Sinobull.com. Sinobull.com was developed to deliver real-time quotes, charts, research and analysis as well as other collateral information regarding stocks, bonds, currencies and commodities trading on Chinese and other Asian-based markets. A second major joint venture with Beijing-based Innostar HiTech Enterprises is preparing to start a national Internet service provider and IP phone service in China utilizing satellite for wireless data and voice transmission to computers, mobile phones, PDAs, pagers and cable television set-top boxes. Detailed information on Hartcourt can be obtained via the company's Web site, www.hartcourt.com. Forward-looking statements This news release includes forward-looking statements that depend on circumstances that may or may not occur including the performance of the companies now held, the acquisition and performance of new companies and other factors listed in the company's Form 10-KSB for the period ending Dec. 31, 1999. Changes in these factors could alter the company's financial performance and future prospects. 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 Dr. Alan Phan, 310/410-7290 or The Financial Relations Board, Los Angeles 310/442-0599 Morgan Fry (General Information) Kristen Kopay (Investor/Analyst Contact) Ashley Piggot (Media Contact) URL: businesswire.com Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. Copyright (C) 2000 Business Wire. All rights reserved.