Hartcourt-News

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Hartcourt-News

 
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HRCT NEWS: Hartcourt Was One of the Best-Performing Stocks of 1999
LONG BEACH, Calif.--(BUSINESS WIRE)--Jan. 9, 2000--The Hartcourt Cos. Inc.
(OTCBB:HRCT)(Frankfurt:HCT) (Web site: www.hartcourt.com) today announced that HRCT has the honor to be one of the best-performing stocks in 1999.

The share price appreciated 5,264 percent -- starting from $0.28 on Dec. 31, 1998, to close at $15.12 on Dec. 31, 1999.

Dr. Alan Phan, chairman and chief executive officer of Hartcourt said: "Many people will think that these results are just a fluke. However, I believe that the share price reflects the achievements of Hartcourt during the past year. Actually, the results of what we are doing will
not come into focus for another six to 12 months -- so the real achievements are much bigger than what they are perceived right now.

"No matter which direction the company's stock trades at any given moment in time, the progressive nature of our organization continues to move from developmental stages to its functional status."

Phan continued: "During the past eight months, we have acquired and merged five Chinese Internet companies to create a major financial services and data provider for Chinese investors. The merged entity, Sinobull.com, will have more revenue and earnings than any existing
Chinese Internet company.

"Thanks to existing brand names and licenses from its subsidiaries, Sinobull.com commands a unique market position. In addition, another joint venture with Innostar of Beijing will create the first and only wireless Internet Service Provider (ISP) network and IP phone via satellite in China at this time. The true value of all these operations should become clear by year's end."

Hartcourt is creating the most comprehensive financial portal in China called Sinobull.com which has the active participation of five powerful Chinese partners: 1) the No. 1 brand name with Hua Xia Info; 2) the only online stock trading system with UAC; 3) the most sophisticated data delivery network via satellite with Guo Mao; 4) the oldest financial data provider with FTL; and 5) the best software engineers and Web designers with StreamingAsia.com.

Sinobull.com will also have a major American partner that plans on joining forces sometime in January. It also plans to do an IPO during the second quarter of 2000.

For further information, visit Hartcourt's Web site at www.hartcourt.com.

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.

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