Issued Real World News

[Georgia Bard]

(OTC Bulletin Board: HRCT) (Frankfurt: HCT 900009), Sinobull Information Ltd, a Hartcourt Subsidiary, Signs Joint Venture Agreement With China's Bank of Communications

LOS ANGELES, July 27 /PRNewswire/ -- The Hartcourt Companies, Inc. www.hartcourt.com, today announced that Sinobull Information Ltd (formerly known as Guo Mao of Shanghai), a member company of the Sinobull Financial Group, has signed a joint venture agreement with China's Bank of Communications to develop a variety of financial products for the FX (foreign exchange) trading market. The country's foreign exchange reserves hit US$165.57 billion at the end of 2000. Globally, approximately $1.5 trillion of foreign exchange is traded daily.

The two business entities have jointly developed a Quoting System named "Foreign Exchange Bao." This quoting system will be marketed to institutional and individual FX investors throughout China. The FX Bao system will provide real-time quotes from all international exchanges, trade executions, account management and market research reports. The joint marketing effort will also feature FX trading seminars to be held by the two parties in all branches of the Bank, first in Shanghai, then subsequently throughout other major Chinese cities.

The Bank of Communications is China's oldest bank, established in 1908 (the Ching Dynasty). The Bank is one of the top five state-owned banks in China. It has over 2,700 branches in 86 cities in China with a total work force of 46,000. It was awarded the "Best Bank in China" in 1998 and 1999. Details on the Bank can be obtained via its Web site, www.bankcomm.com, and www.bankcomm.com.hk.

Mr. Jiang Tai, President of Sinobull, comments, "The Bank of Communications has elected to work with us because Sinobull 's data feed on commodities and foreign exchanges is considered the best in the financial industry. Our data is being used daily by multiple media sources; TV stations, daily newspapers, industry newsletters, and magazines. Our research reports have become the most respected in the nation. Partnering with the Bank 's network of 2,700 branches through out China will enable us to insure that the Sinobull Group will maintain its superior position in the financial data market. Revenues generated from these operations are expected to grow rapidly and will be substantial in the second business year."

The Sinobull Financial Group also recently reported the signing of an agreement to form a strategic partnership alliance with Equis International, a wholly owned subsidiary of Reuters Group. This alliance will jointly develop and implement a plan to localize Equis' award winning MetaStock family of products and market them to financial institutions and investors in Greater China (China, Hong Kong, Macau, Taiwan).

About The Sinobull Financial Group

Sinobull Financial Group is a financial data provider and technology developer and the owner of the popular financial portal, Sinobull.com. Together with all subsidiaries and affiliates of Sinobull Financial Group, Hartcourt and its strategic partners are providing news, data and analysis to the business community and media outlets; real-time pricing, historical pricing, indicative data, analytics and electronic communications. Existing and potential clients include; China's investment institutions, commercial banks, government offices and agencies, corporations, and news/media organizations.

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.

Forward-looking statements

This press release contains forward-looking statements that are made pursuant to the safe harbor provisions of The Private Securities Litigation Reform Act of 1995. The forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements, including, but not limited to, factors detailed in Hartcourt's filings with the Securities and Exchange Commission including recent filings of Forms 10-K and 10-Q. The forward-looking statements should be considered in light of these risks and uncertainties. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Hartcourt undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. The inclusion of any statement in this release does not constitute an admission by Hartcourt or any other person that the events or circumstances described in such statement are material.

For further information, please contact Manu Ohri of The Hartcourt Companies, [phone], [e-mail].

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SOURCE The Hartcourt Companies, Inc.

/CONTACT: Manu Ohri of The Hartcourt Companies, [phone],
[e-mail]/

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

/Web site: http://www.bankcomm.com.hk /

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

(HRCT)




HARTCOURT COMPANIES INC NEW - HRCT
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Volume (000) 35
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as of
07/27/01 13:05 PM EDT


:=) Gary Swancey