Hartcourt Subsidiary to Participate with China
Telecom In Campaign to Bring ISP Services to 10 Million New Users
LOS ANGELES, June 6 /PRNewswire/ -- The Hartcourt Companies, Inc. (OTC Bulletin Board: HRCT; Frankfurt: HCT)
www.hartcourt.com today announced that its subsidiary, Sinobull.com, has agreed to become a strategic partner in China
Telecom's new campaign to obtain 10 Million new ISP subscribers by the end of 2001. The goal of the China Telecom project
is to establish a consumer focused web portal for its ChinaNet ISP called www.sinohome.com, with SinoBull being its primary
financial data provider. A major multi-media blast with advertisements promoting www.sinohome.com and other ChinaNet ISP
services will be distributed through Chinese-based newsprint, radio and television.
Following the advertising strategy of AOL in the U.S. market, China Telecom intends to mail out 10 Million CD-ROMs in the
next 5 months and 20 Million CD-ROMs in the following 12 months to offer a trial period of free ISP service and other
promotional services to targeted households in China. The CDs will have the SinoBull logo at the right top corner of the
opening page, linking users to the SinoBull.com web site. SinoBull financial software tools will be embedded into the CDs
allowing consumers to gain access to real time stock quotes and research as well as the ability to perform on-line trading via the
hyperlink with Sinobull.com. In addition, the SinoBull logo and highlights will be printed on the back cover of the first shipment
of CDs sent out by China Telecom's 7,000 distributors.
Dr. Alan Phan, Chairman & CEO of Hartcourt said, ``China Telecom, China's largest telecom provider, is today in a similar
position in the Chinese market as AT&T had been in the U.S. back in the 1960s. They establish the technology trends, and
dominate the Chinese market in the areas of telecommunications and the Internet. For SinoBull to be included in their marketing
strategy is a great honor. If we get just 5 percent of these new subscribers to log onto SinoBull regularly, we would expect to
leapfrog into the number-one position for all financial portals in Greater China. This is an achievable goal which we hope to
realize by year-end 2000.''
About China Telecom:
China Telecom is a state-owned company and is the number-one telephone service provider in China. Besides its exclusive
land-line phone service, China Telecom is also ranked first in mobile phone subscribers via its subsidiary, China Mobile. Its
Internet Service Provider, ChinaNet, has more than 80 percent share of the ISP market.
About the SinoBull Group:
SinoBull is a technology-driven financial services group providing retail investors and financial institutions in Greater China with
access to comprehensive financial information and the ability to execute financial transactions online. SinoBull offers these
services through four major channels: financial portal, online trading platform, data broadcasting and financial technology
solutions. Sinobull.com Ltd. is planning to complete an Initial Public Offering later this year.
The Hartcourt Companies, Inc. 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.
Its mission is to become one of the leading broadband applications infrastructure providers in Asia, including the development
of broadband networks and vertical market focused content for broadband and wireless applications. Detailed information on
Hartcourt and its major subsidiary SinoBull, which has developed a financial services Web portal and a platform providing
secure online stock trading for major brokerage firms in China may be obtained via the company's Web site,
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.
SOURCE: The Hartcourt Companies, Inc.