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

To: daddyo2 who wrote (2130)	5/22/2001 9:58:51 PM
From: georgevista	Read Replies (2) \| Respond to of 2413

Hartcourt to Purchase an Additional 35% of StreamingAsia Agreement Will Make Hartcourt an 85% Owner of StreamingAsia to Consolidate Financial Results and to Bring SA Public LOS ANGELES, May 22, 2001 /PRNewswire via COMTEX/ -- The Hartcourt Companies, Inc. (OTC Bulletin Board: HRCT chart, msgs; Frankfurt:HCT) www.hartcourt.com, today announced that it has agreed to purchase an additional 35 percent of StreamingAsia Ltd.(SA), the leading Webcasting solutions provider of Hong Kong, making Hartcourt an 85 percent owner of SA. The change is necessary to facilitate Hartcourt's effort to bring SA into a public vehicle. Mr. Alan Chow will remain the CEO of StreamingAsia and Mr. Patrick Kwan, the founder, will stay on as Chief Technology Officer. Dr. Alan V. Phan, Hartcourt's Chairman, said, "We believe multimedia streaming is the technology of the future. From education to entertainment, Webcasting will contribute substantially to the dynamic growth of these industries. By owning 85 percent of SA, we shall have a free hand to merge SA with Total Solution System (TSS), another Hartcourt affiliate, as well as with many other multimedia companies. We are happy that we now have the opportunity to transform SA into a much bigger entity." About StreamingAsia Ltd. StreamingAsia is Hong Kong's leading Internet Broadcaster providing comprehensive audio and video delivery or streaming solutions to businesses, professionals, organizations and content publishers. The StreamingAsia Group of companies (LogicSpace, SyndicateAsia, and StreamingAsia) provide comprehensive IT, content syndication, and streaming media solutions. Its powerful network infrastructure enables the Group to stream superior-quality audio and video content over the Internet to targeted web-enabled audiences all over the world. Other details could be obtained via the Company web site, www.streamingasia.com. 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 four main divisions: the StreamingAsia Group of video web-casting; the SinoBull E-finance platform and data provider; the broadband ISP and internet infrastructure group of ETNS; and The Hartcourt Capital Inc., 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.