Archie's Corner

[mmayr]

HRCT News out. . .

(COMTEX) B: Sinobull, a Hartcourt Subsidiary, Publishes Daily Newsletter
B: Sinobull, a Hartcourt Subsidiary, Publishes Daily Newsletters on Currencies
And Metals for Chinese Investors Ton Bo Software Launches the Popular 'WGMA INT
Version' of Financial Analysis System For Professional Investors

LOS ANGELES, Oct 24, 2001 /PRNewswire via COMTEX/ -- The Hartcourt Companies,
Inc. (OTC: HRCT, Frankfurt: HCT), www.hartcourt.com, announced today that its
Shanghai subsidiary, Sinobull Information Company, has published 2 daily
newsletters called the FX168 and the Metals Report to serve over 8,000
institutional and individual investors.

The daily newsletters provide real time quotes, news, indicators, charts,
comments and expert analysis of all data and information related to metals and
global currency markets. The newsletters are sent electronically via terminals,
Emails or faxes on a subscription based revenue model. They have become a "must
have" for Chinese investors in these markets.

Additionally, Ton Bo Software, a Sinobull subsidiary, has successfully launched
the "WGMA INT" financial analysis software system designed for professional
investors in stocks, commodities and currencies. The system allows investors to
plot charts and analyze the significance of any indicators of price movement. In
addition, "WGMA INT" manages accounts and portfolios, and performs accounting
tasks, providing clients a comprehensive program to manage their investments.

As China enters WTO, Sinobull Financial Group continues to develop its position
as a premier financial information and services provider for leading
institutions and investors. Building on its recently signed joint venture
agreement with China's Bank of Communications to develop a variety of financial
products for the FX (foreign exchange) trading market, and its strategic
partnership with Equis International, a wholly owned subsidiary of Reuters Group
to localize Equis' award winning MetaStock family of products and market them to
investors in Greater China.

Mr. Jiang Tai, President of Sinobull Information, comments, "Our commitment to
provide our customers with the most comprehensive tools to enhance their
investing capabilities has been proven again with these two new products. The FX
market alone has significant potential, as China's foreign exchange reserves
exceeded US$165.57 billion at the end of 2000. Globally, approximately $1.5
trillion of foreign exchange is traded daily.

The value of proprietary information and cutting edge financial analysis
software is even greater in an uncertain market. The best way of maintaining
your competitive edge is to move faster and be better informed than your
competition. Sinobull continues to strengthen and expand its products and
services for China's financial institutions, corporations and professional
investors.

On 2 October 2001, Hartcourt announced that it will publicly divest its Sinobull
Financial Group subsidiary in a reverse merger with Global Telephone
Communications Inc. The reverse merger will result in Sinobull Financial Group
actively trading on the U.S. equity markets. After all necessary approvals,
GTCI's ticker and name will change to become Sinobull. Hartcourt targets the
completion of all the merger requirements during the fourth quarter and will
maintain a majority interest in the new public company.

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.

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 Mr. Manu Ohri of The Hartcourt
Companies, Inc., [phone], ext. 207.


MAKE YOUR OPINION COUNT - Click Here
http://tbutton.prnewswire.com/prn/11690X83819083

SOURCE The Hartcourt Companies, Inc.


CONTACT: Mr. Manu Ohri of The Hartcourt Companies, Inc.,
[phone], ext. 207

URL: http://www.sinobullfinancial.com
http://www.prnewswire.com


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M&M Man