Hartcourt Companies (fka HRCT)

[MrBankRoll]

May 15, 2007

SHANGHAI, CHINA, May 15, 2007 (MARKET WIRE via COMTEX News Network) --

The Hartcourt Companies, Inc. (OTCBB: HRCT) (FRANKFURT: 900009) (the "Company") today announced that the Industry and Commerce Bureau of Beijing Municipality has approved the registration of the ownership change of China Princely Education Technology Development Company Limited. The Bureau also approved the new company's name, Hartcourt Princely Education Technology Development (Beijing) Company Limited (the "Hartcourt Princely"), and it will issue a new business license to reflect the ownership and name change of the Hartcourt Princely by next week. The Hartcourt Princely is now a 100% subsidiary of Hartcourt.