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

To: Investorman who wrote (1080)	7/24/2000 10:30:18 AM
From: Investorman	Read Replies (1) \| Respond to of 2413

Hartcourt Confirms Merger Talks With Hong Kong Stock Exchange Listed Company; Company Aims to Broaden Activities in Mainland China LOS ANGELES, Jul 24, 2000 (BUSINESS WIRE) -- The Hartcourt Companies Inc. (OTC: HRCT)(Frankfurt: HCT), www.hartcourt.com, today confirmed that its chairman and CEO, Dr. Alan V. Phan, is in Hong Kong negotiating the details of a potential merger between Hartcourt and a company listed on The Hong Kong Stock Exchange's Main Board. Dr. Phan said, "We are exploring a business combination with a Hong Kong listed company that would immediately increase the shareholder value of Hartcourt and give the company greater access to the global capital markets. Hong Kong is the Asian hub for most major international investment banking firms. We believe that a Hong Kong listing could equate into greater institutional coverage and participation and that a combination with a well-positioned partner would cement the strategic advantages we currently have in place. Our goal is to create a much larger and dynamic company with double our current shareholder base listed on multiple exchanges. This would be a true 'win-win' situation for both companies." The parties agreed that pending the outcome of the negotiations, Hartcourt would suspend its current efforts to gain listing onto the Nasdaq NMS. 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 Chinese entrepreneurs as well as Chinese government-owned entities. Hartcourt's business goal over the next three years is to complete a series of IPO's or spin-offs focused on three main divisions: the SinoBull E-Finance Platform and wireless financial services; Broadband ISP and Internet infrastructure; and the Financial Transactions Group (online banking, insurance, equipment leasing, mortgages, credit, bill payment, etc.). Detailed information on Hartcourt can be obtained via the company's Web site, www.hartcourt.com. Forward-looking statements 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. CONTACT: The Hartcourt Companies Jack Westfield, 310/410-7290 URL: businesswire.com