Wednesday February 16, 10:36 pm Eastern Time
Company Press Release
Hartcourt Chairman to Speak on China Market for Online Stock Trading
LONG BEACH, Calif.--(BUSINESS WIRE)--Feb. 16, 2000--The Hartcourt Companies Inc. (OTC:HRCT - news; Frankfurt:HCT), www.hartcourt.com, today announced that Dr. Alan Phan, its chairman, will be the main speaker at two receptions held in Dusseldorf, Germany, and Miami.
The subject will be the current development in the burgeoning market for online stock trading in China.
The first seminar will be held at the Steigenberger Hotel in Dusseldorf on Saturday, March 18, 2000, at 3 p.m., and the other at the Sheraton Hotel in Ft. Lauderdale, Fla., on Sunday, March 19, 2000, at 7 p.m.
For details, call Frank Scheunert in Germany, Phone: 49-211-210-8970 or Lynlea Talmon in the United States, Phone: 562/426-9796.
Hartcourt is the major shareholder of Sinobull.com, a comprehensive financial portal of China which is the resulting entity of a merger of five financial service and data providers. Sinobull.com is planning an IPO this summer. Hartcourt is also a joint venture partner in Innostar, a wireless ISP via satellite and an IP phone service provider in China.
Last Sunday, Hartcourt announced the investment of $2 million to purchase 30 percent of eMPACT Solutions Inc., an e-commerce system management company in New Jersey.
Phan explained the potential of this venture: ``In cooperation with a major Chinese company, we are planning to establish a central network of servers to provide Web site management services for e-commerce companies in China. It will be similar to the business model of Exodus (Nasdaq:EXDS - news) and Hewlett-Packard (NYSE:HWP - news) here in the U.S.
``The new joint venture will set up Internet Data Centers in five major cities, with state-of-the-art hardware and software, to guarantee a trouble-free operation around the clock with high level of security. As the market for these e-commerce companies is projected to rise rapidly in the next few years, we will be able to respond to their needs in a timely fashion. eMPACT specializes in these management services, and their technical staff has proven to be the best talents in this field.''
Phan continued, ``The March seminars will be part of our PR campaign to communicate the strategic advantages of Hartcourt operations and investments in China Internet industry. By this time, we should be able to prove beyond any doubt that Hartcourt is maintaining its unmatchable performance, as evidenced in 1999.''
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.
Hartcourt Companies Inc., Long Beach
Alan V. Phan, 562/426-9796