Hartcourt: News 2002 - 500 Beiträge pro Seite

[2002buyer]

Dieser Thread sollte ausschließlich für NEWS von Hartcourt (PR) benutzt werden.
Diskussionen sollten weiter in anderen Threads stattfinden.

Warum?
Damit man sich hier über sachliche Meldungen (PR)informieren kann.
Interessenten können sich dadurch selbst ein Bild machen ohne die ganze Diskussion verfolgen zu müssen.
Das erspart ihnen viel Zeit.

Vielen Dank

[criminal]

2002buyer

Sag mal wieviel threads wollt ihr noch?

Junge wach mal auf,normal bist du nicht!

[2002buyer]

Elephant Talk Ltd., a Hartcourt Subsidiary, Completed the Merger WithStaruni Corporation



New Entity, Elephant Talk Communications Inc., Will Be Traded
Under New Ticker Symbol, ETLK

LOS ANGELES, Jan. 17 /PRNewswire-FirstCall/ -- Staruni Corp. (OTC Bulletin Board: SRUN) today announced the closing of the merger with Elephant Talk Limited, a subsidiary of The Hartcourt Companies, Inc. (OTC Bulletin Board: HRCT). Staruni also announces the approval of a 1 for 10 reverse split. The company will change its name to Elephant Talk Communications, Inc. and commence trading of its shares on the US OTC Bulletin Board Market on January 22, 2002 under the ticker symbol ETLK. As a result of the merger, 51.8% of the outstanding shares will be distributed to The Hartcourt Companies Inc., 38.2% to the shareholders of Elephant Talk Limited and 10% to Staruni shareholders. Complete details are available in the coming 8K filing. Additional information can be found at www.elephanttalk.com .

"We are pleased to finalize the merger and commence trading of our shares in the US markets. The listing will allow us to raise the necessary capital for business expansion and unlock the valuation of our company," said Mr. Russelle Choi, President and CEO of Elephant Talk Communications, Inc. "The Company`s strategy is to leverage our expertise and established relationships with carriers in the region to pursue early entry into selected deregulating markets in the PRC and Asian Pacific regions," added Mr. Choi. "We have also successfully signed new service agreements and are currently implementing interconnections with first tier North American carriers for terminating their minutes in the region. Fusing our established network with new technology expertise will consolidate our ability to provide high quality services to end-users and provide positive returns for our investors."

Hartcourt`s CEO and President, Dr. Wallace Ching stated: "This is a rewarding event for Hartcourt and its shareholders. In a difficult environment, we have been able to execute our strategy to create market valuation for our assets. This is the first of our companies to become publicly traded and our Sinobull and AI-Asia divisions will follow, as planned. The process allows the newly trading companies to be valued in the public markets and enhances its ability to raise capital for further growth and acquisitions. It also provides Hartcourt leverage and liquidity over the ownership in the companies to facilitate new ventures and acquisitions of its own. As we rapidly develop the commerce framework between our companies, the synergy will create additional funding, marketing, and expansion opportunities to continue the successful deployment of our organizational plans."

Elephant Talk is striving to become the leading Internet Telephony Service Provider (ITSP) focusing on the deployment of IP-based communications services. The information technology and telecommunications sectors are experience rapid development. The Company is well positioned to capture market share in the expanding China market through its strategic partnerships and service agreements with various Chinese authorities, incumbent telecom houses, and state enterprises with nation-wide ISP, ICP, Call Centers and V-SAT licenses. Its recent partnership with JiTong Communications is an example of this strategy`s success. In the coming quarters, the Company will be phase-launching its PC-to-Phone and PC-to-Fax services with strategic emphasis on Greater China markets.

About Elephant Talk Communications, Inc.

Elephant Talk Communications Inc. (ET) is a licensed ISR carrier (licenses including US FCC 214, HK ETS and ISP PNETS) providing voice, data transmission, pre-paid calling cards and ISP services. ET commenced operations as an international long distance services provider in late 1994 by establishing and operating hubs in Hong Kong and the US as its gateway to the North American and World carrier markets. The Company is a facility-based international long distance carrier offering highly reliable, low-cost switch-voice services for both the wholesale and retail market. ET is a brand-name provider of global long-distance telecom services and one of the leading international telecommunication service providers in Hong Kong. ET integrates advanced US telecommunication technologies to service China and Hong Kong`s first tier telecommunications carrier markets, while facilitating price point and first-mover advantages for Hong Kong based carriers.

Forward-Looking Statement

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.


MAKE YOUR OPINION COUNT - Click Here
tbutton.prnewswire.com/prn/11690X29523728

SOURCE Staruni Corporation; The Hartcourt Companies, Inc.


CONTACT: Roxana Yung, General Manager of Elephant Talk Communications
Inc., 011 (852) 2707 0703, or fax, 011 (852) 2707 0707,
[e-mail]

URL: www.elephanttalk.com
www.prnewswire.com

[MeinHerr]

um ehrlich zu sein ..

is ne gute Idee von dir, Buyer ..

dann weiß jeder zumindest, wo er die aktuellen Infos findet.

kann ja nich verkehrt sein, direkt auf Anhieb immer den aktuellen Stand zu haben.

Gruß: MH (mein das hier ernst)

[criminal]

@meinherr

Wie oft du deine Meinung wechselst!



KÖSTLICH!!!!!!!!!!!!!!!!!!!

[MeinHerr]

jau criminal .. ich änder sie wie meine unterwäsche .. täglich .. is doch nix schlimmes dabei

mal was andres .. wie fügste eigentlich die Smilis ein ??

ich kenn nur und .. wie kriegt man die andern dinger in den text ??

gruß .. MH

[MeinHerr]

Jau .. habs schon gefunden ..





eigentlich ganz einfach wenn man weiß wies geht ..

[2002buyer]

Dieser thread ist eigentlich für NEWS gedacht.

Für unsachliche Diskussionen gibt es genug Alternativen.

Hier soll man sich über Hartcourt informieren und dann über einen Einstieg oder Ausstieg entscheiden. Zuviel nichtssagende Beiträge erschweren nur die Arbeit.

Vielen Dank

[DGromm]

Hi 2002Buyer: Habe folgende Theorie, die meiner Meinung nach zur Zeit, bevor der entgültige Anstieg beginnt, vorherscht, wobei ich die Kursschwankungen zwischen 0,20 und 0,50 zugrunde lege.

- Im Moment wird der Kurs wieder bewußt gedrückt. Die Vorgehensweise ist, so wie ich es sehe, recht einfach. A verkauft große Stücke und B kauft diese in der form kleiner Pakete. Der Kurs wird dadurch gedrückt, da einige mitverkaufen. Zwischendurch immer wieder kleine Käufe, die dann im Paket verkauft werden. Kurs sackt weiter.

A und B kennen sich oder sind dieselbe Person.

- Ist der Kurs unten, wird direkt ein ganzer Sack gekauft, dieser steht nicht komplett zur Verfügung. Kurs klettert, viele kaufen mit, Kurs klettert weiter.

- Dies einige Male im Jahr praktiziert ergibt guten Gewinn. Der Kurs dürfte demnach in kurzer Zeit wieder hoch auf mindestens 0,40 klettern.

- Gut, um auch kurze Gewinne einzusacken, aber für die Pusher geht dann der Schuß nach hinten los, wenn HRCT mit einer weiteren guten News kommt. Deine letzten Informationen waren schon verdammt gut und deuten darauf hin, daß es bald losgeht.

Was meinst Du ?

Gruß - DG

[Gunsi]

Ihr müßt mal lesen was bei RBB im Amiland über unser Invest geredet wird. Es schaut gar nicht gut aus für unser Baby..
Ist aber nur meine Meinung. Bin leider selber noch dick drin. Der Doc hat uns ganz schön verarscht, und hat schnell noch die Kurve gekratzt.

Gunsi

[MeinHerr]

Quatsch Gunsi .. mach Dir ma keene Sorgen. Les Dir mal genau das Posting von DGromm (über Deinem Posing) durch .. er hat damit schon völlig recht. In 2 bis 3 Wochen is der Kurs wieder bei etwa 0,40 / 0, 50.

Nachkaufen is angesagt.

laß Dich von den Ammi-Fuckern nich mürbe machen, die bashen gerade wieder. Geh mal in das Nasda-Wall-Board (kommste über die Webseite der Ammi-Wallstreet rein), da kriegste die richtigen Infos und die sind saugut.

[2002buyer]

Servus DGromm

Deine Theorie klingt recht interessant.
Allerdings weiß ich noch nicht genau was gemacht wird. Es fällt nur immer wieder auf, daß vor den News der Kurs gedrückt wird.


Was Hartcourt fehlt sind große Käufer, die den Kurs stützen. Sollten auch die Investoren kommen, die Wallace Ching versprach, dann wird die Manipulation aufhören.

Es stehen in der nächsten Zeit sehr viele Meldungen an. Daher denke ich wird der Kurs mal mächtig gedrückt.

Mich ärgert zum einen, daß longs momentan nicht verdienen. Die Basher sind die großen Gewinner der letzten Monate. Dieses wird sich demnächst ändern. Jeder der noch seinen Glauben an Hartcourt und die schlechte Zeit ausgesessen hat wird bald wieder schwarze Zahlen schreiben.

Selbst wenn wir in den letzten Monaten an Hartcourt nichts verdient haben, so haben wir unser Gesicht behalten. Jeder der sich heute negativ zu Hartcourt äußert wird in ein paar Monaten als erster den Erfolg bejubeln.
Selbstverständlich werden wir dann andere "Username" finden.


Ich will dir aber sagen, warum ich mit Hartcourt nicht zocke, obwohl man sehr gut verdienen kann.
Hartcourt habe ich ´99 gekauft, weil ich überzeugt war. Die Zukunftsaussichten waren zum damaligen Zeitpunkt genial. Seit meinem Kauft das Unternehmen Fundamental stark zugelegt. Was in dieser Zeit nicht gestiegen ist, ist der Kurs. Wir werden aber in der nahen Zukunft deutlich höhere Kurse sehen und das reicht mir völlig aus.

[FunArg]

Hallo an alle,meinHerr kannst Du mir die richtige internetadresse durchgeben?Danke FunArg

[2002buyer]

Gunsi

Das ist quatsch was du geschrieben hast. Zum einen hat sich der Doc nicht aus dem Staub gemacht.
Und zweitens wird das RB von Bashern genutzt. Das die nur Blödsinn schreiben ist normal. Die ganzen longs haben sich aus dem RB zurückgezogen, da dort nur gelogen wird.

[Gunsi]

@MeinHerr

Würdest du mir bitte den Link dazu mal hier reinstellen.
Danke

Ja meine armen Nerven. Ich befass mich zur zeit nicht viel mit HRCT da ich noch andere Invests habe die zur Zeit bei mir die Priorität haben. Ich lese nur ab und zu hier.
Wenn ich aber sehe wie der Kurs unter o,2 $ rutscht dazu dann das lesen bei RBB, dann kriegt man halt die Krise.
Dass überall so viel Gelogen wird ist einanderes Problem..

Gruß Gunsi

[Arzgebigler]

Hallo Hartcourtler,
daß Hartcourt heute so extrem fällt, beunruhigt mich aber auch sehr. Dafür muß es doch einen Grund geben? Ist irgendwas bzgl. Zahlen bekannt. Da sollte doch diese Woche was veröffentlicht werden. Ich kann mir nicht vorstellen, daß dies wieder nur die MM`s sind. Aber abgesehen von dem heutigen Kursverlauf glaube ich nicht, daß Hartcourt an der OTC eine Zukunft hat. Von einem Wechsel z.B. zur GEM habe ich schon ewig nichts mehr gehört, im Gegenteil, Hartcourt bringt sogar noch seine Töchter an die OTC. Wie seht Ihr das?
Viele Grüße aus dem Erzgebirge!

[2002buyer]

Die Zahlen werden demnächst kommen.
Am Montag ist Bush in China. Bei seinem letzten Besuch sind die China Aktien sehr gut gestiegen und Hartcourt hat einen super run hingelegt.
Und wenn dann noch gute News kommen dürfte der Kurs wieder deutlich Richtung Norden gehen.

Der Gang an den OTC ist um einiges billiger und schneller zu bewerkstelligen wie ein IPO. Von diesem Markt kann man problemlos an einen anderen Exchange wechseln. Und ich denke es wird auch langfristig das Ziel sein die Beteiligungen an den Hongkonger Markt zu bringen.

In einer PR von ETLK wurde die schon angekündigt.

wünsche ein schönes Wochenende

[2002buyer]

Sinobull Übernahme - Filing

Hier ist der Link dazu:

http://www.sec.gov/Archives/edgar/data/1081471/0001130319-02…

[DGromm]

Na Bitte, es entwickelt sich doch alles weiterhin zur vollen Zufriedenheit. Was wollen wir mehr.

Lassen wir weiter die Zeit spielen und freuen uns, wenns soweit ist, auf einen Kurs, den jetzt ohnehin keiner abschätzen kann. Aber eines ist sicher:

Alle HRCT-Aktionäre werden vol zufrieden sein

[2002buyer]

Hartcourt and Elephant Talk Appoint Investor Relations Firm; Lexington Enterprises Ltd. Chosen to Represent Companies

PR Newswire - Tuesday, March 12, 2002

LOS ANGELES, March 12 /PRNewswire-FirstCall/ -- The Hartcourt Companies, Inc. (OTC Bulletin Board: HRCT; Frankfurt: HCT), www.hartcourt.com , and Elephant Talk Communications, Inc. (OTC Bulletin Board: ETLK), www.ElephantTalk.com announced today that Lexington Enterprises Ltd., has been appointed as their official investors relation firm, and will be the companies formal channel for information dissemination and all investor inquiries.

Lexington Enterprises www.lexingtonenterprises.com is an Investor Relations and Public Relations firm headquartered in Vancouver, BC, Canada. They increase investor awareness, develop relationships with new investors, provide support for current shareholder`s and create institutional and industry interest, throughout the US, Europe and Asia. Their IR programs are designed to build a strong, long-term shareholder base and achieve full stock valuation for their client companies.

Lexington`s Vice President of Marketing, Ms. Lidija Brus, "Our mission is to provide the investment community with an accurate and attractive portrayal of The Hartcourt Companies and Elephant Talk`s current businesses, and their significant growth potential in the Greater China and Asian markets. We create investor awareness and build shareholder value through a comprehensive range of services custom designed to meet each of our clients needs. Our entire team is looking forward to working for these two fine companies."

Hartcourt CEO, Dr. Wallace Ching, stated, "This is a first step in presenting our compelling story to the investing public. Lexington will strengthen our presence in the investment community, help us develop relationships with key capital decision makers, and solicit institutional coverage. Their services will create significant access to new investors for our companies, and provide our current shareholders a centralized presence for information dissemination and support. The Hartcourt Companies and Elephant Talk are entering new phases in their development and it is important that we have a professional Investor Relations team representing us. We look forward to working with Lexington Enterprises and their fine staff."

About Elephant Talk Communications, Inc.

Elephant Talk Communications Inc. is a leading telecommunications company established in 1994 and is located and operated in Hong Kong with offices in Boston, MA. It also owns switching facilities in China, Hong Kong, U.S., Taiwan and Singapore. Elephant Talk operates international long distance service on both sides of the Pacific to over 220 foreign destinations. They enable telecommunications carriers and other service providers the ability to offer long distance, voice, data, fax, and VOIP services to their end- customers, through an advanced and scaleable network. More information on Elephant Talk could be founded at www.ElephantTalk.com .

About Hartcourt Companies, Inc.

The Hartcourt Companies, Inc. is a holding and development enterprise that has built a broad network of Internet, media, and telecommunication companies in Greater China. In partnership with leading Chinese entrepreneurs and government-sponsored entities, Hartcourt is developing and investing in emerging technologies while building an integrated commercial framework for its subsidiaries and their partners. Hartcourt`s operative business strategy is designed to facilitate a series of venture spin-offs via IPO or public merger to fully realize the value of these assets for its investors. Detailed information on Hartcourt can be obtained via the company`s Web site: www.hartcourt.com .

Forward-looking statements

The statements made in this press release, which are not historical facts, contain certain forward-looking statements concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company`s operations generally, may differ materially from what is projected in such forward- looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company`s dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward- looking statement.

For more information please contact: Norik Yaghoobian Vice President Lexington Enterprises Ltd. Suite 204, 910 Richards Street Vancouver, BC V6B 3C1 Email: [e-mail] Tel: [phone] Fax: [phone] www.lexingtonenterprises.com MAKE YOUR OPINION COUNT - Click Here http://tbutton.prnewswire.com/prn/11690X18121052

SOURCE The Hartcourt Companies, Inc.; Elephant Talk Communications, Inc.

/CONTACT: Norik Yaghoobian, Vice President of Lexington Enterprises Ltd. [phone], or fax, [phone], [e-mail], for The Hartcourt Companies, Inc. and Elephant Talk Communications, Inc./

/Web site: http://www.lexingtonenterprises.com /

/Web site: http://www.ElephantTalk.com

http://www.hartcourt.com /

(HRCT ETLK)

[2002buyer]

ElephantTalk Announces Three Agreements for IP Services In Greater ChinaRegion

LOS ANGELES, Mar 14, 2002 /PRNewswire-FirstCall via COMTEX/ -- Elephant Talk Communications, Inc. (OTC Bulletin Board: ETLK) www.elephanttalk.com , today announced three new agreements with JiTong Network Communications, China Netcom Corporation, and Great Wall Broadband Network, to launch new Internet Protocol (IP) services in the Greater China Region, Taiwan and Hong Kong. ElephantTalk is a majority owned subsidiary of The Hartcourt Companies, Inc. (OTC Bulletin Board: HRCT, Frankfurt: HCT), www.hartcourt.com .

ElephantTalk has recently reached expanded reseller and cross branding agreements for Voice-Over-Internet-Protocol (VOIP) services with two of China`s largest and most influential telecom operators, JiTong Network Communications Company Limited ( www.gb.com.cn ), and China Netcom Corporation Limited ( www.cnc.net.cn ). ElephantTalk plans to provide a full range of IP telephony services, including PC2phone, PC2fax and other IP-based valued added services to selected high demand locations in Greater China in phase one of the program.

ElephantTalk has also signed a letter of intent with Great Wall Broadband Network ( www.gwbnet.com ), a rising star spearheading the development of a comprehensive broadband network across the major cities of China. Great Wall and ElephantTalk will co-operate in the sales and marketing of the PC2Phone and PC2Fax services in targeting their customers who are subscribing to their broadband network services.

"ElephantTalk`s proven record and established relationships with large carriers in the traditional International Direct Dial (IDD) market has provided us first mover status in capitalizing on these new opportunities," said Mr. Russelle Choi, President and CEO of ElephantTalk. "The partnerships with JiTong, China Netcom and Great Wall Broadband will allow us to enter new markets, expand our networks, build our VOIP services, increase and diversify revenue, and strengthen our customer base."

ElephantTalk will soon offer higher margin VOIP services to areas in Greater China where the demand for connectivity for calls to international destinations rank among the highest in the region. The services will initially target corporate customers. China`s telecom sector is still mostly regulated -- thus competitive pressure hasn`t lowered long distance charges as it has in the US -- the cost savings using VOIP compared to regular long distance can be as high as 50%-80%. ElephantTalk has installed packet- switched technology in its infrastructure and will route VOIP traffic through its privately managed IP networks.


Recently released reports:
-- Probe Research: Voice over IP (VOIP) traffic was responsible for a
record-setting 7.7 billion minutes in 2000, and the market is still in
its early stages. It is expected to grow dramatically, to 500 billion
minutes by 2005.

-- International Data Corporation (IDC): The PRC will render the highest
global growth in Internet telephony service revenue from 2002 onwards,
due to population size and the relative lack of basic telephony
services in the country. In addition, the research firm predicted that
Taiwan and Hong Kong, both relatively progressive telecom environments,
would produce substantial revenue growth from Non-PSTN market segments.

ElephantTalk is developing its strategies to capture market share in the expanding and untapped telecom markets of Greater China and Asia, and is striving to become a leading Internet Telephony Service Provider (ITSP), focused on the deployment of IP-based communications.

About ElephantTalk

Elephant Talk Communications, Inc. is a leading telecommunications company established in 1994 and is located and operated in Hong Kong with offices in Cerritos, California and Boston, Massachusetts. The company also owns switching facilities in China, Hong Kong, U.S., Taiwan and Singapore. ElephantTalk operates international long distance service on both sides of the Pacific to over 220 foreign destinations. They enable telecommunications carriers and other service providers the ability to offer long distance, voice, data, fax, and VOIP services to their end-customers, through an advanced and scaleable network. More information on ElephantTalk can be found at www.elephanttalk.com

About Hartcourt

The Hartcourt Companies is a holding and development enterprise building a broad network of Internet, media, and telecommunication companies in Greater China. In partnership with leading Chinese entrepreneurs and government- sponsored entities, Hartcourt is developing and investing in emerging technologies while building an integrated commercial framework for its subsidiaries and their partners. More information on Hartcourt can be found at www.hartcourt.com .

The statements made in this press release, which are not historical facts, contain certain forward-looking statements concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company`s operations generally, may differ materially from what is projected in such forward- looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company`s dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward- looking statement.

For more information please contact: Norik Yaghoobian, Vice President of Lexington Enterprises Ltd., Suite 204, 910 Richards Street, Vancouver, BC - V6B 3C1, Email: [e-mail], Telephone: [phone], Fax: [phone].

[2002buyer]

ElephantTalk Signs Milestone Agreement With EADS Multicoms; EADSMulticoms Expands in Asia in Partnership With ElephantTalk

LOS ANGELES, Mar 21, 2002 /PRNewswire-FirstCall via COMTEX/ -- EADS Multicoms, a 100% subsidiary of EADS (EADS, NV), has joined forces with Elephant Talk Communications, Inc. (OTC Bulletin Board: ETLK), to accelerate its business development in Asia. EADS, the European Aeronautic Defense and Space company, is the European leader and number two worldwide in the aeronautics, defense and space fields, after Boeing. ElephantTalk is a subsidiary of the Hartcourt Companies, Inc. (OTC Bulletin Board: HRCT).

Multicoms is an interconnect carrier operating circuit and packet switched voice solutions and services. The company operates hybrid and satellite long distance telecommunications, (license L 33-1), with its own long distance telephony network, providing solutions and services for interconnections with African, Asian, East European and Middle Eastern countries, and in difficult to reach destinations without access to fiber networks, fixed line, or standard wireless networks. More information about Multicoms can be obtained at www.multicoms.net .

ElephantTalk and EADS Multicoms have signed reciprocal carrier agreements to use each other`s networks, and call termination agreements to terminate premium quality telephony traffic in China and other areas of Asia for Multicoms, and for ElephantTalk to terminate traffic in Europe and in difficult access areas serviced by Multicoms. Estimates for the Multicoms termination traffic are for 5-6 million minutes initially, with revenues surpassing $1 million annually. Estimates for other revenues resulting from the agreement will be forthcoming as services are initiated. The agreement is to take effect immediately.

Mr. Russelle K.P. Choi, the Chairman of ElephantTalk, explains that, "This is a no overlap, a win-win partnership. ElephantTalk and Multicoms networks are totally complementary. To take advantage of Multicoms direct routes to 67 hard-to-reach destinations and European cell phone networks, will definitely result in significant increase in income for ElephantTalk. In addition, ElephantTalk can benefit from the stable direct routes of Multicoms and from pricing advantages and service quality management resulting from direct negotiation of interconnection and call termination agreements established by Multicoms with local PTOs."

After opening its Main Point of Presence (MPoP) in New York last month, EADS Multicoms is now announcing the opening of its Asia MPoP in Hong Kong. This fourth MPoP will support Multicoms` business growth by collecting Asian telephony traffic. This commercial and technical event represents a significant milestone in Multicoms` ramp-up, since the Pacific area is experiencing a rising and sustained growth rate.

Multicoms will benefit from the direct interconnection with the ElephantTalk`s telecommunications networks that have access to over 270 destinations worldwide. "Accessing state-of-the-art telecommunications infrastructure in the Greater China region helps Multicoms to continue its fast growth pace while minimizing the investment since the company takes advantage of high quality available infrastructure," stated Mr. Gilles Deveau, Multicoms Chief Executive Officer. He further added, "With the help of ElephantTalk`s sales locations in the Asia Pacific region and their networks complementary geographical coverage ElephantTalk is perfect for Multicoms to extend its leverage and to access the Asian markets, while ElephantTalk will benefit with additional traffic and revenues."

About ElephantTalk

Elephant Talk Communications, Inc. is a leading telecommunications company established in 1994, located and operated in Hong Kong with offices in Cerritos, CA. and Boston, MA. The company owns switching facilities in China, Hong Kong, U.S., Taiwan and Singapore. ElephantTalk operates international long distance services on both sides of the Pacific to over 220 foreign destinations. They enable telecommunications carriers and other service providers the ability to offer long distance voice, data, fax, and VoIP services to their end-customers, through an advanced and scaleable network. More information on ElephantTalk can be found at www.elephanttalk.com .

About Multicoms

Multicoms, an alternative international interconnect carrier, has a global presence and terminates traffic in more than 60 hard-to-reach locations. The company operates an end to end managed network that supports circuit and packet switch solutions designed for premium voice services. By negotiating Call Termination Agreements and interconnect directly with local PTOs, EADS Multicoms is able to guarantee its customers with `last mile` quality of service and attractive pricing through dynamic and permanent price adjustments. The company has been selected by more than 20 major telecom operators including 5 incumbents and 4 tier ones. Multicoms is a fully owned subsidiary of European Aeronautics Defense and Space Company (EADS, NV), the European leader and number two worldwide in the Aeronautics, Defense and Space fields, just after Boeing. (www.eads.net ) (www.multicoms.net )

[Rattlesnake]

LOS ANGELES, Mar 22, 2002 /PRNewswire-FirstCall via COMTEX/ -- The Hartcourt
Companies, Inc. (OTC Bulletin Board: HRCT; Frankfurt: 900009),
www.hartcourt.com, announced today that its subsidiary, Sinobull Financial
Group, www.sinobullfinancial.com, will exhibit its products at the Securex show
in Shanghai. Securex, http://luyan.sohu.com/securex/web/nae1.htm , is China`s
most popular financial products and services exhibition. Sinobull will use this
occasion to showcase its newest products: MetaStock of Equis/Reuters and
Sinobull Wireless Internet. Organizers expect over 80,000 investors to attend
the show from Friday March 22 to Sunday March 24, 2002.

Sinobull Group has recently completed, and is now ready to market, the Chinese
version of the MetaStock software, the world`s leading technical analysis and
charting software. MetaStock has won the Technical Analysis of Stocks and
Commodities magazine`s Reader`s Choice award for analysis software the past 8
years running. Sinobull has converted the MetaStock software to localized
language and programming to make it accessible to millions of Chinese investors
demanding professional financial tools to manage their trading activity and
portfolio positions. Sinobull Group is an exclusive Greater China distributor of
MetaStock, appointed by Equis (www.equis.com), a wholly-owned subsidiary of
Reuters (Nasdaq: RTRSY).

Sinobull Group will also introduce Sinobull Wireless Internet, a powerful
wireless application using "Streaming Mobile Application Real-Time Technology"
(SMART) to provide streaming, automatically updating, stock market information
in real-time over wireless devices from mobile phones, pagers to PDA`s. Through
Java programs, SinoBull Wireless Internet updates stock market information
automatically, anytime, anyplace, with the latest Hang Seng Index, stock quotes,
FX quotes, transaction volumes and chart analysis.

Mr. Stephen Tang, CEO of Sinobull Financial Group, comments, "Sinobull Financial
Group continues to develop its position as a premier financial information and
service provider for leading institutions and retail investors. These new
products were created to meet the demand of China`s investors for reliable,
professional financial information, and equity and portfolio management
software. Our launching of SinoBull Wireless Internet and the Chinese MetaStock
software demonstrates our continuing commitment to develop innovative and market
leading financial management services and technology."

The Hartcourt Companies has announced that it will publicly divest its Sinobull
Financial Group subsidiary in a reverse merger with Global Telephone
Communications Inc. (OTC Bulletin Board: GTCI). The reverse merger will result
in Sinobull Financial Group actively trading on the U.S. equity markets and is
pending SEC approval.

About Sinobull Financial Group

Sinobull Financial Group develops financial technology, financial operating
platforms and internet-based financial services. Sinobull`s operating companies
include: Shanghai Sinobull Information Company Ltd. (formerly Shanghai Guo Mao
Science & Technology Company Ltd.), Sinobull Network Technology Company Limited
(formerly Beijing Shangdi Net Technologies Center Company Limited), Financial
Telecom Ltd, Fintel Wireless Ltd., Ton Bo Software, HCTV Financial TV Channel
Ltd. and Sinobull Magazine Ltd. Sinobull.com is a financial information and
stock trading website. Sinobull Group and its strategic partners provide news,
data and analysis to the business community and media outlets. Services include:
real-time pricing, historical pricing, indicative data, analytics and electronic
communications. Clients include China`s investment institutions, commercial
banks, government offices and agencies, corporations, and news/media
organizations. www.sinobullfinancial.com

Forward Looking Statement

The statements made in this press release, which are not historical facts,
contain certain forward-looking statements concerning potential developments
affecting the business, prospects, financial conditions and other aspects of the
company to which this release pertains. The actual results of the specific items
described in this release, and the company` operations generally, may differ
materially from what is projected in such forward-looking statements. Although
such statements are based upon the best judgments of management of the company
as of the date of this release, significant deviations in magnitude, timing and
other factors may result from business risks and uncertainties including,
without limitation, the company`s dependence on third parties, general market
and economic conditions, technical factors, the availability of outside capital,
receipt of revenues and other factors, many of which are beyond the control of
the company. The company disclaims any obligation to update information
contained in any forward-looking statement.



For more information ... please contact



Larry Kristof

Vice President

Lexington Enterprises Ltd.

Suite 204, 910 Richards Street

Vancouver, BC V6B 3C1

Email: [e-mail]

Telephone: [phone]

Fax: [phone]

[2002buyer]

Financial Telecom, a Hartcourt Subsidiary, to Provide Content ForShanghai Net Bank`s Cable TV Programs

LOS ANGELES, Mar 28, 2002 /PRNewswire-FirstCall via COMTEX/ -- The Hartcourt Companies, Inc. (OTC Bulletin Board: HRCT; Frankfurt: 900009), www.hartcourt.com , announced today that its Hong Kong subsidiary, Financial Telecom Ltd. (FTL), www.fintel.com , has signed an agreement to provide financial data and reports to Shanghai Net Bank, Ltd. Shanghai Net Bank has a contract with Shenzhen Cable Broadcasting & CATV to operate a daily show on financial matters. FTL has also signed a contract with Wise Spot to provide similar services for the Wise Spot network of mobile phones and wireless PDA.

The FTL data feed will include real time quotes, news, indicators, charts, commentary, and expert analysis of all data and information related to the Hong Kong Stock Exchange, Hong Kong Futures Exchange, and Foreign Exchange Spot rates.

Mr. Stephen Tang, CEO of FTL comments, "Sinobull Financial Group continues to develop its position as a premier financial information and service provider for leading institutions and retail investors. Shenzhen Cable TV Broadcasting and Wise Spot `s wireless network represent the first, of what we anticipate will be many, additional long-term clients for our rapidly expanding Sinobull operations."

Hartcourt has announced that it will publicly divest its Sinobull Financial Group subsidiary in a reverse merger with Global Telephone Communications Inc. (OTC Bulletin Board: GTCI). The reverse merger will result in Sinobull Financial Group actively trading on the U.S. equity markets.

For details on Sinobull Financial Group, please visit, www.sinobullfinancial.com .

About Hartcourt

The Hartcourt Companies is a holding and development enterprise that has built a broad network of Internet, media, and telecommunication companies in Greater China. In partnership with leading Chinese entrepreneurs and government-sponsored entities, Hartcourt is developing and investing in emerging technologies while building an integrated commercial framework for its subsidiaries and their partners. Hartcourt`s operative business strategy is designed to facilitate a series of venture divestitures via IPO or public merger to fully realize the value of these assets for its investors. Detailed information on Hartcourt can be obtained via the company`s Web site: www.hartcourt.com .

About Sinobull Financial Group

Sinobull Financial Group develops financial technology, financial operating platforms and internet-based financial services. Sinobull`s operating companies include: Shanghai Sinobull Information Company Ltd. (formerly Shanghai Guo Mao Science & Technology Company Ltd.), Sinobull Network Technology Company Limited (formerly Beijing Shangdi Net Technologies Center Company Limited), Financial Telecom Ltd, Fintel Wireless Ltd., Ton Bo Software, HCTV Financial TV Channel Ltd. and Sinobull Magazine Ltd. Sinobull.com is a financial information and stock trading website. Sinobull Group and its strategic partners provide news, data and analysis to the business community and media outlets. Services include: real-time pricing, historical pricing, indicative data, analytics and electronic communications. Clients include China`s investment institutions, commercial banks, government offices and agencies, corporations, and news/media organizations. www.sinobullfinancial.com

Forward Looking Statement

The statements made in this press release, which are not historical facts, contain certain forward-looking statements concerning potential developments affecting the business, prospects, financial conditions and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company`s operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company`s dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward-looking statement.

[2002buyer]

Financial Telecom Granted China Data Distributorship From Bank of China`s Sino Information Services 24 Hour Data Service in High Demand From Investment Markets


LOS ANGELES, Apr 1, 2002 /PRNewswire-FirstCall via COMTEX/ -- The Hartcourt
Companies, Inc. (OTC Bulletin Board: HRCT, Frankfurt: HCT 900009),
www.hartcourt.com , announced today that Sino Information Services Co. Ltd. --
the information and technical arm of the Bank of China Group ( www.icbc.com.cn/
), Hong Kong, has granted Financial Telecom Ltd. (FTL), ( www.fintel.com ), the
distributorship in mainland China for its real time quotation data feeds on
foreign exchange, precious metal, interest rates and related financial
information as quoted and traded by the Bank of China Group, available 24 hours
a day.

The Financial Telecom data feed services will include real time quotes, news,
indicators, charts, commentary, and expert analysis of all data and information
related to the Hong Kong Stock Exchange, Hong Kong Futures Exchange, and Foreign
Exchange Spot rates. Globally, approximately $1.5 trillion of foreign exchange
is currently traded daily.

Sinobull Financial Group has previously signed agreements with China`s Bank of
Communications to develop a variety of financial products for the FX (foreign
exchange) trading markets, with Shanghai Net Bank to provide financial data and
reports, and a contract with Wise Spot to provide financial data services for
the Wise Spot network of mobile phones and wireless PDA`s (See March 28, 2002
press release).

Mr. Stephen Tang, CEO of FTL comments, "This is an exciting opportunity for the
Sinobull Financial Group and Financial Telecom Ltd. to benefit from this agency
arrangement as the Bank of China quotes are accepted as an industry standard by
the investment markets in Hong Kong. The demand for reliable quotations and
information on these internationally traded instruments represents a large and
underserved market. The right to distribute this data will strengthen the
information content of our Sinobull Financial Network while also providing
revenues from the data feed distribution to institutional users in China."

Mr. Jiang Tai, President of Sinobull Financial Group, comments, "These
agreements, and the very positive response for Sinobull`s Chinese version of
MetaStock, Sinobull Wireless PDA and Sinobull Data services at the recent
industry leading Securex Trade Show continue to add to our momentum in the
financial products and services sector. Sinobull`s data feeds on commodities and
foreign exchanges continue to be the best in the financial industry, our data is
being used daily by multiple media sources, and our research reports are among
the most respected in the nation."

About Sinobull Financial Group

Sinobull Financial Group develops financial technology, financial operating
platforms and internet-based financial services. Sinobull`s operating companies
include: Financial Telecom Ltd., Sinobull Information Company Ltd., Ton Bo
software, HCTV and Sinobull Magazine Ltd. Sinobull.com is a financial
information and stock trading website. Sinobull Financial Group and its
strategic partners provide news, data and analysis to the investment community
and media outlets. Services include: real-time pricing, historical pricing,
indicative data, analysis and electronic communications. Clients include China`s
investment institutions, commercial banks, government offices and agencies,
corporations, and news/media organizations. For more details visit
www.sinobullfinancial.com .

Forward-looking statements

The statements made in this press release, which are not historical facts,
contain certain forward-looking statements concerning potential developments
affecting the business, prospects, financial condition and other aspects of the
company to which this release pertains. The actual results of the specific items
described in this release, and the company`s operations generally, may differ
materially from what is projected in such forward-looking statements. Although
such statements are based upon the best judgments of management of the company
as of the date of this release, significant deviations in magnitude, timing and
other factors may result from business risks and uncertainties including,
without limitation, the company`s dependence on third parties, general market
and economic conditions, technical factors, the availability of outside capital,
receipt of revenues and other factors, many of which are beyond the control of
the company. The company disclaims any obligation to update information
contained in any forward-looking statement.



For more information ... please contact:



Larry Kristof

Lexington Enterprises Ltd.

Suite 204, 910 Richards Street

Vancouver, BC V6B 3C1

E: [e-mail]

T: 604.484.8286

F: 604.484.8287

[2002buyer]

Dr. Wallace Ching, Hartcourt`s CEO, to Visit Six Cities to Meet With Shareholders and Investors
via COMTEX

April 5, 2002

LOS ANGELES, Apr 5, 2002 /PRNewswire-FirstCall via COMTEX/ --

The Hartcourt Companies, Inc. (OTC Bulletin Board: HRCT; Frankfurt: 900009), www.hartcourt.com, announced today that Dr. Wallace Ching, CEO of Hartcourt, will hold meetings in six (6) cities in the US and Europe to brief shareholders and interested investors on the Company`s current operations and future plans.

The schedule will be as follows:
Sunday April 14, 2002 at 11 AM in San Francisco at Holiday Inn Airport, 275 S. Airport Blvd.

Tuesday April 16, 2002 at 7 PM in Los Angeles at Holiday Inn Airport 9901 La Cienega Blvd.

Thursday April 18, 2002 at 7 PM in New York City at Holiday Inn Midtown 440 West 57th St.

Saturday April 20, 2002 at 11 AM in Ft. Lauderdale at Holiday Inn 999 Ft. Lauderdale Beach

Sunday April 21, 2002 at 7 PM in Dallas at Holiday Inn Express DFW Airport 309 State Hwy 114, West Grapevine

Tuesday April 23, 2002 at 7PM in Frankfurt, Germany at Holiday Inn Express Airport Langener Strasse 20.

All shareholders and interested investors are welcome to attend the meeting. Meeting rooms at all sites have been confirmed with the exception of New York City, where confirmation is expected shortly. For further information, and to ensure reserved seats, please call Lexington at [phone] or Email to: [e-mail].

About Hartcourt Companies, Inc.

The Hartcourt Companies, Inc. is a holding and development enterprise that has built a broad network of Internet, media, and telecommunication companies in Greater China. In partnership with leading Chinese entrepreneurs and government-sponsored entities, Hartcourt is developing and investing in emerging technologies while building an integrated commercial framework for its subsidiaries and their partners. Hartcourt`s operative business strategy is designed to facilitate a series of venture spin-offs via IPO or public merger to fully realize the value of these assets for its investors. Detailed information on Hartcourt can be obtained via the company`s Web site: www.hartcourt.com .

Forward-looking statements

The statements made in this press release, which are not historical facts, contain certain forward-looking statements concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company`s operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company`s dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward-looking statement.

For more information ... please contact: Larry Kristof Lexington Enterprises Ltd. Suite 204, 910 Richards Street Vancouver, BC V6B 3C1 E: [e-mail] T: 604.484.8286 F: 604.484.8287 MAKE YOUR OPINION COUNT - Click Here http://tbutton.prnewswire.com/prn/11690X43784232
SOURCE The Hartcourt Companies, Inc.

Larry Kristof of Lexington Enterprises Ltd., [phone], fax [phone], [e-mail], for The Hartcourt Companies, Inc.

http://www.hartcourt.com

Copyright (C) 2002 PR Newswire. All rights reserved.

[spooky0815]

AI-Asia, a Hartcourt Subsidiary, and Kangrun Technology Ltd. Sign Acquisition Agreement

LOS ANGELES, Apr 8, 2002 /PRNewswire-FirstCall via COMTEX/ -- The Hartcourt Companies, Inc. (OTC Bulletin Board: HRCT, Frankfurt: 900009), www.hartcourt.com
, announced today that AI-Asia, Ltd. (HK), its subsidiary, has signed an agreement to acquire 100 percent of the economic proceeds of Kangrun Jia Yuan Technology Ltd. of Beijing, China ( www.kangrun.com ). Kangrun provides system integration, networking solutions, modular networking products, computer systems and storage devices to corporate enterprises in China.

Two major strategic partnerships of Kangrun are IBM-China ( www.ibm.com ) and Ortronics (www.ortronics.com ). In 2001, Kangrun`s unaudited sales revenue was $57 Million RMB / $7.1 Million US.

The transaction is structured so that AI-Asia will acquire 100 percent of Kangrun`s revenues, profits, and expenses and provides AI-Asia the exclusive right to acquire 100 percent of the share capital of Kangrun when restrictions on foreign ownership are lifted. Currently, a foreign entity cannot directly
hold ownership in Kangrun Technology due to the restrictions imposed by the Chinese government on foreign ownership in distribution businesses.

Kangrun is one of the top IBM distributors (5 star) in China for PC, server, laptop, storage devices and solutions for corporate customers. They are the general sales agent for Northern China for Ortronics. Their clients include; Tsinghua University, Beijing University, China Telecom, SK Corp, People`s Daily, Tom.com, and the Chang Sheng Fund.

Mr. Xia Qing, CEO of Kangrun, comments, "We are anxious to complete this transaction with AI-Asia so we can proceed with Kangrun`s expansion plans. The admission of China into the WTO has opened many marketing opportunities for companies like Kangrun, and we plan to pursue them aggressively. Hartcourt, the
parent company of AI-Asia, has established a reputation in China as a can-do company. We are proud to be part of this deal."

"Kangrun Technology is a great fit for AI-Asia," said Dr. Wallace Ching, Hartcourt`s CEO. "They are generating solid revenues and China`s opening technology markets and Government mandated IT spending create excellent expansion opportunities for their businesses. Together with ControlTech and
LogicSpace/StreamingAsia, we continue to structure the AI-Asia division to prepare it for public listing. We look forward to their addition to AI-Asia`s systems technology and networking operations."

About Hartcourt

The Hartcourt Companies is a holding and development enterprise that has built a broad network of Internet, media, and telecommunication companies in Greater China. In partnership with leading Chinese entrepreneurs and government-sponsored entities, Hartcourt is developing and investing in emerging
technologies while building an integrated commercial framework for its subsidiaries and their partners. Hartcourt`s operative business strategy is designed to facilitate a series of venture divestitures via IPO or public merger to fully realize the value of these assets for its investors. Detailed information on Hartcourt can be obtained via the company`s Web site:
www.hartcourt.com .

About AI-Asia

AI-Asia Inc. is a holding company division of The Hartcourt companies created to acquire assets and companies in the multi-media technology and services sector. Its objective is to identify, develop, and maintain first- mover technologies,
products and services for corporate and consumer internet deployment. AI-Asia is providing its clientele with a comprehensive range of internet enabling solutions, preparing them to participate in the rapidly emerging streaming and
broadband communications revolution in Greater China.

The statements made in this press release, which are not historical facts, contain certain forward-looking statements concerning potential developments affecting the business, prospects, financial condition and other aspects of the
company to which this release pertains. The actual results of the specific items described in this release, and the company`s operations generally, may differ materially from what is projected in such forward- looking statements. Although
such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company`s dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information
contained in any forward- looking statement.


For more information, please contact:
Larry Kristof
Vice President
Lexington Enterprises Ltd.
Suite 204, 910 Richards Street
Vancouver, BC V6B 3C1
E: [e-mail]
T: 604.484.8286
F: 604.484.8287

MAKE YOUR OPINION COUNT - Click Here
http://tbutton.prnewswire.com/prn/11690X36857054

SOURCE The Hartcourt Companies, Inc.


CONTACT: Larry Kristof, Vice President, of Lexington Enterprises Ltd.,
[phone], or fax, [phone], [e-mail]

URL: http://www.ortronics.com
http://www.ibm.com
http://www.hartcourt.com
http://www.prnewswire.com




spooky

[Rattlesnake]

LOS ANGELES, Apr 12, 2002 /PRNewswire-FirstCall via COMTEX/ -- The Hartcourt
Companies, Inc. (OTC Bulletin Board: HRCT) www.hartcourt.com, announced today
that its subsidiary, Sinobull Network Technology, has signed partnership
agreements with five of Greater China`s leading telecom and Internet companies
to begin the distribution of its comprehensive financial information, stock
quotes, and analysis on the local and international stock markets to millions of
mobile phone users in China. Sinobull Network owns and operates www.sinobull.com
, one of the leading financial information portals in China ... voted "Most
Popular Financial Web Site" two years running by the China Security Times.

The company`s recently signed revenue sharing deals with key players in the
mobile data business include:

-- UTStarcom (Nasdaq: UTSI) www.utstar.com -- the key supplier of PAS

mobile networks and equipment for China Telecom, China`s largest

telecom company

-- CellStar www.cellstar.com -- one of China`s largest mobile phone

distributors

-- China Telecom 168 -- 168 is the SMS service of China Telecom

-- HongLian95 www.hl95.com -- a major value added telecom services

provider in China

-- Sina.com (Nasdaq: SINA) www.sina.com -- one of Greater China`s largest

portals

-- China Telecom Hotline -- information hotline services from China

Telecom, via fix line

"Mobile data communication is a very exciting area of growth for the mobile
communication industry, and Sinobull Network has successfully leveraged its
unique advantages in financial content to secure revenue sharing agreements with
these key industry players", said Dr. Wallace Ching, Hartcourt`s CEO. "The
agreements have generated revenue from day one, and we expect a very healthy
growth in this business as the mobile data market continues to expand."

China has recently passed Japan and the US and now has the largest mobile phone
user population in the world, with approximately 140 million registered
subscribers. Data mobile communication is becoming a very important sector of
revenue growth for carriers. Short messaging service (SMS) enabled mobile chat,
financial data, and other forms of data communication have become very popular
with mobile users and is growing at a rapid rate. According to industry reports,
SMS traffic is projected to generate approximately 300 million USD for China`s
mobile phone markets in 2002.

Hartcourt has announced that it will publicly divest its operating division, the
Sinobull Financial Group, in a reverse merger with Global Telephone
Communications Inc. (OTC Bulletin Board: GTCI). The reverse merger will result
in Sinobull Financial Group actively trading on the U.S. equity markets.

About Hartcourt

The Hartcourt Companies is a holding and development enterprise that has built a
broad network of Internet, media, and telecommunication companies in Greater
China. In partnership with leading Chinese entrepreneurs and
government-sponsored entities, Hartcourt is developing and investing in emerging
technologies while building an integrated commercial framework for its
subsidiaries and their partners. Hartcourt`s operative business strategy is
designed to facilitate a series of venture divestitures via IPO or public merger
to fully realize the value of these assets for its investors. Detailed
information on Hartcourt can be obtained via the company`s Web site:
www.hartcourt.com .

About Sinobull Financial Group

Sinobull Financial Group develops financial technology, financial operating
platforms and internet-based financial services. Sinobull`s operating companies
include: Sinobull Information Company Ltd., Sinobull Network Technology,
Financial Telecom Ltd., Ton Bo software, HCTV Financial TV channel Ltd. and
Sinobull Magazine Ltd. Sinobull.com is a financial information and stock trading
website. Sinobull Group and its strategic partners provide news, data and
analysis to the business community and media outlets. Services include;
real-time pricing, historical pricing, indicative data, analysis and electronic
communications. Clients include China`s investment institutions, commercial
banks, government offices and agencies, corporations, and news/media
organizations. www.sinobullfinancial.com .

Forward-looking statements

The statements made in this press release, which are not historical facts,
contain certain forward-looking statements concerning potential developments
affecting the business, prospects, financial condition and other aspects of the
company to which this release pertains. The actual results of the specific items
described in this release, and the company`s operations generally, may differ
materially from what is projected in such forward- looking statements. Although
such statements are based upon the best judgments of management of the company
as of the date of this release, significant deviations in magnitude, timing and
other factors may result from business risks and uncertainties including,
without limitation, the company`s dependence on third parties, general market
and economic conditions, technical factors, the availability of outside capital,
receipt of revenues and other factors, many of which are beyond the control of
the company. The company disclaims any obligation to update information
contained in any forward- looking statement.

[2002buyer]

Letter from CEO, Dr. Wallace Ching:
April 12th, 2002


General Update

Much has happened since my last letter; let me bring you up to date. Apart from working closely with each subsidiary, I have focused a lot of my efforts building the team and client base for Hartcourt Capital. For instance, David Chen has joined us full time as Investment Director after helping us to set up Sinobull Media, and Belle Liang has come on board from Credit Suisse First Boston (CSFB) where she was a research analyst covering Greater China. With the addition of our locally recruited associates, the team is rapidly taking shape and our teammates in Shanghai and Hong Kong have already started to actively solicit and evaluate companies in China. The focus is on companies in select high-growth sectors for either direct acquisition or to provide a selection of investment banking services, for instance, to assist them in obtaining a listing on the U.S. markets.

We have already made significant progress and are close to signing a few mandates, including a private placement exercise for a Korean company, and a listing advisory service for an advertising company in Guangzhou. We will certainly keep you updated once these mandates are signed and become disclose-able to the public.

As some of you may notice, we have recently appointed Lexington Enterprises as our official investor relations firm. From the outset, you should expect to see a more structured and aggressive approach in releasing corporate updates and promotion of Hartcourt`s business strategy to a broader group of private and institutional investors. Together with our newly designed websites, which are rapidly progressing, we hope to present to our investors a stronger, more focused, unified corporate image.

As for our other group companies, ElelphantTalk has obtained its listing status on the OTC and signed a number of new initiatives, which we have detailed in recent press releases. With assistance from Lexington Enterprises, the next step is to increase media and analyst awareness and convey to potential investors and institutions the company`s potential to become one of the leading telecommunication service providers in the Asia Pacific, Indo-China region.

Sinobull Financial Group continues to make progress in post-merger integration and our subsidiaries are already cross-selling products using each other`s sales force. A case in point is the recent launch of the MetaStock product in Shanghai which is a result of collaboration between Financial Telecom and Sinobull Information. Our popular financial portal SinoBull.com is generating over 30 million visitors monthly and we are planning to utilize this exposure more aggressively to market the products and services of our subsidiaries.

At the recent Shanghai Securex financial trade show the local bank branches of the Industrial and Commercial Bank of China, the Bank of Communications, and the Agricultural Bank of China all were showing their electronic banking systems embedded with our SinoBull quotation service.

We developed many direct sales leads from bank officials, brokerage firms, and professional investors for our Chinese version of MetaStock and our Sinobull Wireless PDA. Sinobull`s PDA bundles the advanced GPRS network application from China Mobile Shanghai, and the top Compaq PDA model, to offer the fastest mobile streaming quotation service in China. This product also provides a plug-in for institutions to download their trading systems into our PDA. In addition, we are currently in talks with China Mobile Shanghai for a joint promotion.

Sinobull`s Data services also generated significant interest and after the show we conducted a number of discussions with TV stations, both in Shanghai and Beijing, on the provision of HK stock quotes for their financial TV programs. We also plan to participate in the upcoming nation-wide seminar to be attended by hundreds of China TV channels this summer (possibly in Zhuhai) and to present the Sinobull Data feed to all the attending TV channels.

The status of the Sinobull market listing is progressing and we are replying to a last minute request from the SEC for additional audit information. This is a routine request and we are currently waiting for the group`s audit to be completed for submission to the SEC. Once that information is filed and cleared, we expect the reverse merger of Sinobull to take place shortly after. Our CFO and accounting firm are working diligently to bring this to a timely resolution. And, there is a silver lining to this unexpected delay as Sinobull companies have signed additional business in the past few weeks and this should add to any listing valuation.

AI-Asia has combined the operations of LogicSpace and StreamingAsia to reduce overhead and will continue to provide web solution and streaming services while expanding development of Enterprise Resource Planning programs (ERP). We are working hard writing code and expanding this product to take advantage of higher product margins and to meet the increasing demand for business management software from Chinese businesses. The first contract for these services has already been signed.

The development of a small sum transaction payment gateway is in the final stages; this will facilitate online transactions for online games, subscriptions for research articles, and other value added internet services. In addition, AI-Asia has established an engineering team in Shenzhen, which borders Hongkong, to save on costs and is setting up a sales team to market its services in the Pearl Delta area, targeting medium size enterprises.

AI-Asia is also planning to add Kangrun Technologies to provide products and services for network enterprises and media system technology. Kangrun is one of the top IBM distributors (5 star) in China for PC, server, laptop, storage devices and solutions for corporate customers. They are the general sales agent in Northern China for Ortronics. Their clients include; Tsinghua University, Beijing University, China Telecom, SK Corp, People`s Daily, Tom.com, and the Chang Sheng Fund. In 2001, Kangrun`s unaudited sales revenue was $57 Million RMB / $7.1 Million US.

We continue to structure the division to prepare it for public listing and after signing the acquisition agreements with most of the relevant parties in December 2001, our team has worked hard to overcome any remaining legal obstacles in bringing together the companies under AI-Asia`s umbrella. We envision the consolidation of Kangrun Technologies, Control Tech, and LogicSpace will be completed in the second quarter and thereafter we will proceed to take AI-Asia to the public markets.

Lastly, I am looking forward to my trip to the US and Germany. I hope to see you all there and share with you my views and vision for the company.

Comments on the 10K

Last year saw a continuing contraction in the global economic sector and more than three trillion dollars of wealth effect lost from the US stock markets alone. There was also a severe economic downturn in Hong Kong that had a negative impact on some of our businesses. Failure to meet planned objectives on some ventures was an unpleasant reality and a condition Hrct shared with a majority of publicly traded companies.

Our organization doesn`t operate in a vacuum and the same environment that effected the overall markets had a pronounced impact on some of our operations and projected ventures. To counterbalance this we lowered overhead, relocated many personnel and operations to China where the costs are significantly lower, consolidated operations, and sought out new markets as we attempted to stay ahead of sharply deteriorating market conditions, while maintaining a balance in our distribution of resources to insure continued growth.

In the past our approach to acquisitions was in line with the highly valued markets and rapidly expanding technology sector. As these market conditions reversed it resulted in the failure of some of these acquired companies to produce the results that were anticipated. As the year reached an end we had some hard decisions to make in relation to certain operations and decided to be proactive and take a very conservative approach by writing down much of the goodwill on under performing assets in the 4th quarter of 2001.

We felt this was especially prudent in light of the potential changes in the regulatory environment in accounting practices for technology companies. While this strategy produced one-time loss items, it allows us to move forward in 2002 with minimal exposure to unusual events and to significantly lessen their continuing drag on our financials. This will help expedite the company`s successful transition to cash flow positive and profitable operations.

In addition, this conservative approach has prompted us to change the timeline for completion of the V-2 Technology acquisition while we examine viable strategies to restructure the areas of the business with high cash burn rate and consolidate the valuable remaining assets. We will continue to pursue development and distribution agreements with V-2 in the interim. To compensate for this move we have acquired Kangrun Technologies (see recent press release), a firm with $7 million in revenues. We have also decided to suspend our development of Renew Logistics until we can devote the necessary resources to make this venture successful.

Our objective is to create a solid foundation for our future growth and establish the most favorable conditions to achieve our financial objectives. We have made significant progress, while maintaining a strong and growing presence in our business segments as we continue to pursue new business opportunities and target complementary acquisitions.

We plan to continue to oversee and refine our operations and ventures to maintain this level of accountability throughout our organization. We expect additional challenges but we are confident in our ability to successfully achieve our goals.


Looking forward

We have just been through one of the sharpest recession in the last twenty years. Hartcourt has persevered, and it has made our operations more efficient and more focused.

In spite of the poor market conditions Hartcourt has evolved into a synergistic network of 5 business divisions, with 200 employees, and 12 portfolio-operating companies with estimated annual revenues in excess of $20 million. A figure that currently doesn`t include revenues from Kangrun Technology, Control Tech, or potential contributions from Hartcourt Capital.

Now we begin our task of taking a refocused and revitalized organization forward as the opportunities in China continue to expand and we make strong and successful efforts to extend our operational reach to additional locations in Greater Asia.

I am excited about our future and I look forward to updating you on our progress. And finally, I would like to thank you, our shareholders. I know these have been difficult times and the entire Hartcourt organization extends its deepest appreciation for your support.

[tbu.to-hrct-ftrl]

Friday April 12, 5:33 pm Eastern Time
Press Release
SOURCE: The Hartcourt Companies, Inc.
Hartcourt Reports Results for Fourth Quarter and Year end 2001
LOS ANGELES, April 12 /PRNewswire-FirstCall/ -- The Hartcourt Companies, Inc. (OTC Bulletin Board: HRCT; Frankfurt: 900009), www.hartcourt.com, today reported financial results for the fourth quarter and year ending December 31, 2001. Revenues for the year 2001 were $10,621,205 as compared to $1,391,666 for year 2000, a 663% increase. Revenues for the fourth quarter of 2001 were $4,680,453 as compared $3,809,526 for the third quarter of 2001 and $507,258 for the fourth quarter of 2000.

On a pro forma basis Hartcourt reported a six ($0.06) cents loss per share. These pro forma results are exclusive of non-recurring one-time gains and losses, one-time legal and professional fees associated with the acquisitions and public offering costs. Hartcourt lost eight ($0.08) cents per share for year 2001 as compared to eleven ($0.11) cents for year 2000. Hartcourt recorded one-time write down of goodwill and intangible software costs of $1,785,262 or three ($0.03) cents per share, and one-time costs in legal and professional costs of $1,300,199 or two ($0.02) cents incurred in connection with the acquisitions of the subsidiaries and public offerings. Cash flow from operating activities improved from ($2,513,094) for year 2000 to ($1,472,146) for year 2001.

Revenues for the three months ended December 31, 2001 were derived from Hartcourt`s 51% owned subsidiary Elephant Talk Inc.; its 58.53% owned subsidiary Financial Telecom Limited (``FTL``); its 66.67% owned subsidiary Haike Caijin TV (HCTV); and its 85% owned subsidiary StreamingAsia.Com Ltd. (``StreamingAsia``).

``We continued to show significant progress across our operating divisions,`` said Mr. Manu Ohri, Hartcourt CFO. ``Revenues continued to expand during the fourth quarter and operating expenses continued to decline from consolidation, and strategic relocation of personnel and assets. In response to market conditions and pending accounting rule changes in 2002, Hartcourt took a conservative approach and impaired goodwill in Q4. The reduction in goodwill serves to appreciably reduce amortization expense going forward and positions the company on a shorter path to profitable operations.``

Hartcourt CEO and President, Dr. Wallace Ching stated: ``In spite of a challenging environment during 2001 we continued to record steady progress with revenue growth, execution of our business strategies, completion of key acquisitions, and the public divestiture of our ElephantTalk subsidiary. We expect Sinobull to list in Q2 and recent agreements to acquire Control Tech Centenary Group Ltd. and Kangrun Technology will add to our steadily growing network of portfolio companies and lead the way to a market listing for AI- Asia to follow. Year 2001 was a building year for our young organization, and in spite of the severe market conditions, Hartcourt now consists of five operating divisions comprised of 12 companies with 200 employees. We have had a strong start to this year in relation to revenue growth and will continue to assess operational performance across our organization as we strive to meet our goals for revenue growth and profitability during 2002.``

Hartcourt`s fourth quarter 2001 accomplishments and subsequent events:


-- Dr. Wallace Ching named as CEO and President of Hartcourt, Dr. Phan
remains as Chairman

-- ElephantTalk completed the merger with Staruni Corporation and trades
under the ticker ETLK

-- AI-Asia purchases 100% of Control Tech Centenary

-- ElephantTalk signed agreements with EADS Multicom, Jitong, Great Wall
Broadband and China Netcom Corporation

-- Sinobull launches the Chinese version of Equis Meta Stock

-- Financial Telecom provides financial content for Shanghai Net Bank
cable TV

-- AI-Asia and Kangrun Technology Ltd. Sign acquisition agreement

-- Hartcourt announced the formation of Hartcourt Capital to offer
investment-banking services and launch China venture fund

[2002buyer]

Hartcourt Capital to Obtain Equity Listing for CC&E Communications Hartcourt Subsidiary Partners With Shanghai Reach-Bridge Investment to Take CC&E to International Capital Markets


LOS ANGELES, Apr 17, 2002 /PRNewswire-FirstCall via COMTEX/ -- The Hartcourt
Companies, Inc. (OTC Bulletin Board: HRCT; Frankfurt: 900009), www.hartcourt.com
, announced today that its subsidiary, Hartcourt Capital Inc., together with
Shanghai Reach-Bridge Investment Consulting Company Ltd (SRBIC), have been
appointed as joint financial advisors by CC&E Communications Co. Ltd. to assist
the company in going public on international stock markets. Hartcourt Capital is
providing services on a fee and equity basis.

CC&E Communications Co. Ltd is a full service-advertising agency and content
production house based in Guangzhou. Its core businesses include television
content production, a traditional advertising agency, and broad spectrum media
purchasing. The Company syndicates and sells the broadcasting right of its
programs to a network of 350 Television stations throughout China. CC&E
approached US$10m in revenue and US$1m in net profit for 2001 according to its
unaudited financial statements.

"The Chinese media sector is currently undergoing an explosive growth stage and
CC&E is very fortunate to be a well-positioned player within the sector," said
Mr. Sandy Ng, President and Executive Director of CC&E. "We are very pleased to
retain Hartcourt Capital and SRBIC`s services, and we look forward to taking
CC&E to the public markets. This will allow our company access to the
international capital markets to acquire additional funding to finance our new
program production, the planned expansion of our program distribution network,
and facilitate CC&E`s transition into a full service multi-media provider. It
will also put the company in a favorable position as we seek out suitable peer
companies for potential acquisitions in order to meet our planned growth and
market penetration targets."

Dickson Leung, CEO of SRBIC, says, "We are fortunate to have been chosen to
partner with Hartcourt Capital in representing and advising CC&E in achieving
their goals for an international listing. I look forward to working with Dr.
Ching and his entire management team as we create a new corporate structure for
CC&E and bring them to the public markets."

Close to one billion people in China are exposed to television programming and
approximately 80 million have cable access, both these markets are the largest
in the world. China has over 500 television stations and 3600 channels, the
demand for production and programming content are enormous. In addition,
advertising spending topped $9 billion in 2000 and is growing 12% yearly.

"The timing is right for CC&E to tap the international capital markets," states
Dr. Wallace Ching, CEO of Hartcourt Capital Inc. "Post-WTO, China is gradually
opening up its media industry for foreign participation and the media sector
presents tremendous potential as a high growth area that rewards first mover
advantage. We are pleased to be chosen by CC&E Communications to represent and
assist them in acquiring a listing on the equity markets and to accomplish their
goals for expansion in the Greater China media industry."

About Hartcourt

The Hartcourt Companies is a holding and development enterprise that has built a
broad network of Internet, media, and telecommunication companies in Greater
China. In partnership with leading Chinese entrepreneurs and
government-sponsored entities, Hartcourt is developing and investing in emerging
technologies while building an integrated commercial framework for its
subsidiaries and their partners. Hartcourt`s operative business strategy is
designed to facilitate a series of venture divestitures via IPO or public merger
to fully realize the value of these assets for its investors. Detailed
information on Hartcourt can be obtained via the company`s Web site:
www.hartcourt.com .

The statements made in this press release, which are not historical facts,
contain certain forward-looking statements concerning potential developments
affecting the business, prospects, financial condition and other aspects of the
company to which this release pertains. The actual results of the specific items
described in this release, and the company`s operations generally, may differ
materially from what is projected in such forward-looking statements. Although
such statements are based upon the best judgments of management of the company
as of the date of this release, significant deviations in magnitude, timing and
other factors may result from business risks and uncertainties including,
without limitation, the company`s dependence on third parties, general market
and economic conditions, technical factors, the availability of outside capital,
receipt of revenues and other factors, many of which are beyond the control of
the company. The company disclaims any obligation to update information
contained in any forward-looking statement.



For more information ... please contact:



Larry Kristof

Vice President

Lexington Enterprises Ltd.

Suite 204, 910 Richards Street

Vancouver, BC V6B 3C1

E: [e-mail]

T: 604.484.8286

F: 604.484.8287



MAKE YOUR OPINION COUNT - Click Here

http://tbutton.prnewswire.com/prn/11690X44589873

SOURCE The Hartcourt Companies, Inc.



CONTACT: Larry Kristof, Vice President of Lexington Enterprises Ltd.,

[phone], fax [phone], [e-mail], for The

[2002buyer]

Wednesday April 17, 6:02 am Eastern Time

Press Release

SOURCE: Elephant Talk Communications, Inc.

ElephantTalk Extends Footholds in Indo-China and South Asian Regions; Hartcourt Subsidiary Signs MOU to Acquire 100 Percent of GridTel.Net Limited

HONG KONG, April 17 /PRNewswire-FirstCall/ -- Elephant Talk Communications, Inc. (OTC Bulletin Board: ETLK - news) today
announced that it has signed a Memorandum-of- Understanding to acquire GridTel.Net Limited, a medium-sized international exchange
carrier. The transaction will provide ElephantTalk significant additional corporate and wholesale telecommunication clients and expand
the company`s established direct routing to transcontinental operating hubs, submarine and terrestrial cabling networks, satellite
connections, and related technical support facilities throughout the region. ElephantTalk is a subsidiary of the Hartcourt Companies, Inc.
(OTC Bulletin Board: HRCT - news).

GridTel.Net has points of presence (POPs) assets in Kathmandu, two sites in Bangladesh, Indonesia, Mongolia, Bangkok, Mumbai,
Dehli, Manila, and Cambodia. The company has strong relationships with local ISPs and international carriers in the Indo-China and
South Asia regions, and provides direct routes to Nepal, India, Bangladesh, Indonesia, Singapore, Cambodia, Laos, Pakistan and the
Philippines. GridTel.Net records over 10 million calling minutes per month and is a holder of an External Telecommunications Services
(ETS) license in Hong Kong. GridTel`s projected annual revenues for 2002 are US$24 million, with approximate annual gross profit of
US$1.44 million.

``GridTel.Net has well dispersed points of presence (POPs) throughout the region and consistent monthly traffic of 10 million minutes.
This acquisition will significantly deepen our market penetration, expand our reach in the region and can additionally be used as a
backbone for our voice-over-internet-protocol (VOIP) roll out in Indo-China and South Asia,`` said Mr. Russelle Choi, President and CEO of
ElephantTalk. ``The addition of GridTel`s networks and facilities is expected to increase efficiencies, lower operating cost per minute,
provide quicker time to market, and improve profit margins for our consolidated operations. This is the next step in our strategy to expand
our strong foothold in the emerging Asian telecom markets, which have yet to be fully deregulated, and to take advantage of their
tremendous untapped potential.``

``We are excited to join ElephantTalk. This combination is consistent with our goal of providing the absolute highest quality voice
solutions for our customers,`` said Mr. Lewis Lu, General Manager of GridTel. ``Our customers will benefit from ElephantTalk`s global
connections, advanced network architecture and quality customer service.``

This acquisition continues ElephantTalk`s expansion into Greater Asia`s emerging telecom markets. The company has recently signed
agreements with EADS (EADS, NV) subsidiary EADS Multicoms ( www.multicoms.net ), JiTong Network Communications (
http://www.gb.com.cn ), China Netcom Corporation ( www.cnc.net.cn ), and Great Wall Broadband Network ( http://www.gwbnet.com ).

About ElephantTalk

Elephant Talk Communications Inc. is a leading telecommunications company established in 1994, located and operated in Hong Kong
with offices in Cerritos, CA. and Boston, MA. The company owns switching facilities in China, Hong Kong, U.S., Taiwan and Singapore.
ElephantTalk operates international long distance services on both sides of the Pacific to over 220 foreign destinations. They enable
telecommunications carriers and other service providers the ability to offer long distance voice, data, fax, and VOIP services to their
end-customers, through an advanced and scaleable network. More information on ElephantTalk can be found at www.elephanttalk.com

Forward-looking statements

The statements made in this press release, which are not historical facts, contain certain forward-looking statements concerning
potential developments affecting the business, prospects, financial conditions and other aspects of the company to which this release
pertains. The actual results of the specific items described in this release, and the company` operations generally, may differ materially
from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of
management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from
business risks and uncertainties including, without limitation, the company`s dependence on third parties, general market and economic
conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control
of the company. The company disclaims any obligation to update information contained in any forward-looking statement.

For more information ... please contact:

Larry Kristof
Lexington Enterprises Ltd.
Suite 204, 910 Richards Street
Vancouver, BC V6B 3C1
Email: [e-mail]
Telephone: [phone]
Fax: [phone]


SOURCE: Elephant Talk Communications, Inc.

[2002buyer]

Hartcourt Capital Retained by ONSE Telecom for Private Placement
via COMTEX

April 19, 2002

LOS ANGELES, Apr 19, 2002 /PRNewswire-FirstCall via COMTEX/ --

The Hartcourt Companies, Inc. (OTC Bulletin Board: HRCT) www.hartcourt.com , announced today that its subsidiary, Hartcourt Capital Inc., together with Swan Advisory Services Company Ltd (SASCO), have been appointed as joint financial advisors by ONSE Telecom Corporation, www.onse.net , to assist the company in completing a private share placement of up to US$100 million worth of new shares. Hartcourt Capital is providing services on an advisory and performance fee basis.

ONSE Telecom Corporation is a full service Korean Telecom company providing local and international long distance, data services for broadband, IPLC, Frame Relay and ATM, Internet services for ISP, portals, IDC and e-commerce, and other value-added services for corporate and private consumers. The company operates one of Korea`s largest ISP`s, Shinbiro, and introduced broadband service in 2000. ONSE Telecom`s has numerous local and international licenses and dual redundant backbone networks supported by multiple core switches, each operating independently with 25 nodes for Internet services and 14 nodes for domestic ATM, providing complete coverage of Korea. The company staffs over 700 employees and audited revenue in 2001 were US$229 million.

`The Korean telecommunications sector has been experiencing unprecedented growth, and possesses one of the world`s highest penetrations of broadband access and mobile phone usage. ONSE Telecom Corporation is well-positioned within the sector and we are planning to expand our services and markets,` said Mr. G.Y. Hwang, CEO of ONSE Telecom. `We are very pleased to retain Hartcourt Capital and SASCO`s services, to assist us in a private share placement to fund our operative and strategic development. We all look forward to taking the next steps in fulfilling our long range company goals.`

`It is a great opportunity for Hartcourt Capital to provide investment advisory services for ONSE Telecom Corporation, one of the leading telecommunications providers in Korea,`stated Dr. Wallace Ching, CEO of Hartcourt Capital Inc. `Korea has one of the world`s most progressive communications markets and ONSE is well positioned to capture significant market share in various segments of the sector. The additional funding will assist the company in achieving its strategic goals and increase their role in Korea`s rapidly growing telecommunications industry.`

About Hartcourt Capital, Inc.

The Hartcourt Companies, Inc. newly established investment-banking arm Hartcourt Capital, Inc. acts as a bridge between high-growth Chinese companies and the U.S. capital markets. It provides a wide range of strategic and financial advisory services covering mergers and acquisitions, fund raising, private placement, restructuring, and public market listing via initial public offering (IPO) or reverse merger. In addition to serving China`s high growth private company sector, Hartcourt Capital is also an integral part of Hartcourt`s strategy and business model, introducing innovative and promising companies into the Hartcourt network to complement and enhance competitive advantages throughout the organization. Detailed information on Hartcourt can be obtained via the company`s Web site: www.hartcourt.com .

Forward-looking statements

The statements made in this press release, which are not historical facts, contain certain forward-looking statements concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company`s operations generally, may differ materially from what is projected in such forward- looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company`s dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward- looking statement.

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SOURCE The Hartcourt Companies, Inc.

Larry Kristof, Vice President of Lexington Enterprises Ltd., [phone], or fax, [phone], [e-mail], for The Hartcourt Companies, Inc.

http://www.onse.net

Copyright (C) 2002 PR Newswire. All rights reserved.

[michse_I]

Keep the faith!

[2002buyer]

DAVID CHEN SHAREHOLDERS LETTER 9/15/02


Dear Shareholders:

As promised, I am updating you on the current status of Hartcourt operations. During the last 4 weeks, we have been concentrating on disposing unprofitable divisions and acquiring new profitable business. This effort will continue through out the remaining of the year.

The process of cutting back the G & A expenses by terminating high cost personnel and close down high cost offices and rebuild our corporate management functions in Shanghai is very time consuming. In fact, we must pay out a substantial amount for severance packages and other termination costs, so you will see some increase in Q3 losses. However, the pain will be endured only by a few more months, by Q1 of 2003, we will have only $360,000 overhead cost. Our target of creating a very lean and mean, yet very efficient, organization in Shanghai will be met without a question.

Furthermore, when the former management teams envisioned the business plan for the 5 operating subsidiaries, they had counted on a high share price to support the funding needed for continuous expansion. With funding, the 5-year plan would create 5 gigantic divisions from telecommunications to investment banking of which they could be spun-off by IPO or merger to get substantial dividends to shareholders. With the stock market as is, the plan could not be executed in its original grandiose. We cannot wait for another 3 years until maturity. Therefore, we have replaced it with a one-year plan whereas we will spin-off or dispose most divisions and will acquire only one big profitable business, instead of trying to support 5 start-up ones. Fortunately, the value of the existing assets is high enough for us to exit in a profitable manner.

I assure you that we are working hard to implement this one-year plan and you should see the tangible results reflected in our Q1-2003 financial report. I am confident and optimistic. Once we achieve this crucial step, we will be able to wait out the depressed market and continue the journey with even better prospects than before.

We appreciate your patience and we count on your support.

Now, let`s get on to the Q & A section:

Q: Please tell us how are you going to cut these expenses? Which executives must resign, which have agreed to take a big pay cut, which will be replaced by cheaper Chinese executives and how are you going to do it to get to $360,000?

A: From the recent PR releases you can see we have already started doing this. Personnel movement and salary are sensitive questions so we can not give you all the details, but we can tell you that executives based in HK and US will be replaced by executives based in Shanghai, all to be completed within this quarter.

Q: Is it true that Hartcourt has to go back to the traditional business sector to get the profitable companies which will be the foundation of the new acquisition strategy of Hartcourt? Would it mean that Hartcourt is abandoning the hi-tech business model?

A: We are still seeking businesses in high growth sectors in the technology and communications-related industries. The most important criteria for the new acquisition are revenues and profits.

Q: How will you spin-off the Sinobull division, the AI-Asia division? By reverse take-over like ETLK or by other means?

A: The spin-off will require us to evaluate all of the available options including, merger with a competitor, private sale, partial sale, direct spin-off, reverse listing, etc. We will keep you informed of the progress.

Q: Has the stake in ETLK already been paid now? It is not in the 10Q. When do we get our ETLK shares?

A: We are committed to distribute the share dividends. Please be patient and wait for our legal consul completing the paperwork with the transfer agent.

Q: What`s about your cash-situation? Since years you are burning cash. How long you will be able to afford?

A: While we are doing our best to change direction and initiate major cost saving, we are lucky to have some very supporting shareholders who really believe in our operations to continue the funding.

Q: What`s about the VC (Schwartz?) who gave a LOI or even a MOU (2 years ago) to invest another big amount of USD in your company?

A: The equity line is still available, but we run major risk of tanking the share price, so we have refrained from utilizing this resource.

Q: Wouldn`t downsizing the company to show a minimal profit create uncertainty in the minds of new investors?

A: Our plan is not downsizing the company but to replace non-performance divisions with profitable ones. The move of our headquarters to Shanghai shall save two-third of the overhead cost. Furthermore, we think that the new investors would care more about the bottom line of the company: profit and cash flow.

Q: Which subs is HRCT counting on in the near term for the most profit?

A: The new ones we are bringing in.

Q: Is it possible to share an overview of the company plan or outline with investors...How has that plan changed in the past year?

A: Like I said at the beginning, the original business plan required a tremendous amount of financial resources, which the present market environment has rendered it impossible. We must face reality and dispose quickly the negative cash flow operations. We are working to replace these assets with profitable ones so we could move on, bad times or good times.

Q: Can we get a "firm/finalized" DATE-LOCATION for shareholders meeting?

A: It will be held on the 15th November 2002 at the Holiday Inn, Los Angeles Airport subject to the final proxy to be sent out to all shareholders soon.

Q: Sinobull was reportedly to have "first mover" position...based on Sohu`s news (below) "where" do we stand now? http://biz.yahoo.com/prnews/020826/hkm002_1.html

A: I can not comment on Sohu`s strategy but Sinobull is not an online stock trading brokerage, but rather a financial information and technology provider to banks, brokerage and investors in the market. UAC online trading operation has been disposed of more than 2 years ago.

Q: Of all our domestic (USA) partnerships/affiliations/alliances, WHICH can you specifically provide "revenue generating" confirmation from?
WHO _ ANNUAL REVENUE APPROX. $__

A: Most of our AI-ASIA operations obtain their revenue from their US based suppliers (IBM, Polycom, Ortronics, Sony, Radvision, etc). Reuters and S&P exchange data feed with Sinobull in Hong Kong. Equis Metastock is already launched in HK and will be launched shortly in China.

Q: What is "current" cash/burn rate? Date of zero sum?

A: At headquarters, we shall reduce our total G & A to be about $400,000 by December.

Q: Hartcourt website is boring & information dated, including unusable links to Lexington LLC. What are plans to update/keep fresh for new investors research?

A: Revamping the Web site is on our list of things to do. However, in view of the lack of interest from new investors, we do not place a high priority on this task. We prefer to use limited resources on other projects.

Q: What could you tell us about the contacts between Hartcourt and the government? Mr. Lu Hao, Chairman of Beijing Government Committee for High-Tech Industry: "We are very impressed with Hartcourt`s vision and understanding of the huge business and investment opportunities here in Beijing as well as in other parts of China. We particularly welcome foreign companies like Hartcourt, who see the great opportunities and also understand the way of working with us, together, to improve the foreign investment environment in China."

A: It`s very counter-productive to make any comment on our relationship with any government.

Q: What`s the most important bank for us and our product?

A: Sinobull in China has good business relationships with most of the banks in China including: Bank of Communications, Industrial Commerce Bank, Bank of China, Construction Bank. We hope that all banks and brokerage houses will become our clients.

Q: What can you tell us about e139.com?

A: e139.com is a part of Cellstar, one of the largest mobile communication data and services providers in China, a partner of Sinobull.com.

13. David Chen: "Prior to his technology experience, he was the Regional Marketing Director at CNN International and Sales Director for Turner Broadcasting Systems - subsidiaries of AOL-Time Warner." It`s difficult to find some more information. What was your job exactly and do you have contacts to your old companies?

A: I worked at CNN and TBS for 5 years. I have many friends there.

Q: Any existing business relations to ET.NET (etnet.com)?

A: ETNS or Etns.net was started by the founders of Elephant Talk (ETLK). Officially, we have no business relationship yet.

Q: Are we in the process of selling any subs or portions of them and is that why HRCT is so confident we will show profits by the end of 4th quarter?

A: We cannot give any answer on this sensitive subject.

Q: I have noticed that IBM has some sort of deal with the state banks and central government...Can you elaborate on the significance to HRCT (Kangrun)?

A: Any progress made by IBM in China should have positive impact on Kangrun. How much? It remains to be seen.

Q: Was the work by Wallace successfully terminated concerning the fund?

A: Due to market uncertainties, Wallace had a tough time in recruiting investors for the new fund. We must postpone any work on this project until the market returns to normal.

Q: What can you tell us about the influence of Reuters in the Chinese market? Is it possible we get trouble to sell our product if they are there too?

A: Reuters are trying to set up their data center in China. They are gearing more to serve overseas investors, whereas Sinobull is focusing its marketing on Chinese investors. We are cooperating with Reuters whenever possible. However, no one can tell about the future. All we can do is to try delivering to our customers better and better products and services each and every day.

Q: Please give us (shareholders) once and for all the straight story as to why No big money American or other foreign corporations have truly invested in HRCT as a window to their China operations? Where are the big money institutional shareholders and why are they not attracted?

A: Dr. Ching had been trying to rectify this situation regarding institutional investors. Unfortunately, the adverse market conditions have negatively impacted his effort. We shall try again when the right timing arrives.

Q: Hi Mr. Chen, as you can see the uncertainty is very high between us shareholders.
As long term shareholder I am sometimes wondering about the numerous changes in the Hartcourt- management and public relation-firms. Why did they all leave us?
This is the very important question for me, because all the speculations around the changes make me and the most of us very crazy. Thanks in advance.

A: Sometimes people leave us and sometimes we leave them. Hartcourt`s board is very demanding in terms of performance especially in this tough market. Perhaps many executives with background of big corporate structures found themselves unfamiliar with the rough environment of managing a hi-tech start-up. I also think the downturn of the stock market makes the compensation options for these executives unattractive. Whatever the real reasons, we are still here to carry on and to perform. I think you should judge us by operational results and progress toward the final goal, and nothing else.

Q: Could you explain why we do not hear of Asian investments in this an Asian based company, supplying technology to the Asian community? Why does this company (HRCT) not command better shareholder support from the Asian community?

A: The last time I looked at the shareholders name list, there are about 24 percent Asian shareholders. I think it is much more than the representative demography in the US or Europe.

Q: Yes or no...Will Hartcourt be ready for the BBX?

A: The answer is YES.

Q: Besides ETLK, which other subs are you planning to dispose? Sinobull, StreamingAsia, E-Education, HRCT Capital?

A: Please be patient and wait for the Press Releases.

Q: Will you maintain any office in US or Hong Kong, now that you are moving everything to Shanghai?

A: Mr. John Furutani, our legal counsel, will maintain our US office for all legal and administrative matters. The address is: 2500 E. Colorado Blvd Suite 301 Pasadena, CA. 91107 Tel: [phone] Fax: [phone].
Our Hartcourt office in Hong Kong will be moved to FTL office: Suite 308 Hangbong Commercial Centre, 28 Shanghai Street, Kowloon, Hong Kong Tel: [phone] Fax: [phone].
The best way to reach us is still by Email, [e-mail].

Q: You said there will be new profitable acquisitions. Please provide us with the funding possibility of such move.

A: There are a variety of funding methods and sources. New equities will be preferable than debts. However, we shall be very creative and try not to engage in ruinous approaches like convertible bonds or equity line. We remain committed to grow Hartcourt bigger and bigger on a profitable platform.
Forward-looking statements
The statements made in this press release, which are not historical facts, contain certain forward-looking statements concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company`s operations generally, may differ materially from what is projected in such forward- looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company`s dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward- looking statement.