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Re: mmayr post# 122

Thursday, 03/28/2002 7:29:45 AM

Thursday, March 28, 2002 7:29:45 AM

Post# of 200
(PR NEWSWIRE) Financial Telecom, a Hartcourt Subsidiary, to Provide Content F
Financial Telecom, a Hartcourt Subsidiary, to Provide Content For Shanghai Net
Bank's Cable TV Programs

FTL Also Signs Agreement to Provide Data for Mobile Phone Network
And Wireless PDA Of Wise Spot (HK)

LOS ANGELES, March 28 /PRNewswire-FirstCall/ -- The Hartcourt Companies,
Inc. (OTC Bulletin Board: HRCT; Frankfurt: 900009), ,
announced today that its Hong Kong subsidiary, Financial Telecom Ltd. (FTL), , 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
For details on Sinobull Financial Group, please visit, .

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: .

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. 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.

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.

For more information ... please contact:

Larry Kristof
Lexington Enterprises Ltd.
Suite 204, 910 Richards Street
Vancouver, BC V6B 3C1
T: 604.484.8286
F: 604.484.8287


SOURCE The Hartcourt Companies, Inc.
-0- 03/28/2002
/CONTACT: Larry Kristof, Vice President of Lexington Enterprises Ltd.,
+1-604-484-8286, or fax, +1-604-484-8287,
/Web site: /
/Web site: /
/Web site: /

CO: Hartcourt Companies, Inc.; Financial Telecom Ltd.; FTL; Shanghai Net
Bank, Ltd.; Shenzhen Cable Broadcasting; CATV; Global Telephone
Communications Inc.
ST: California, China
*** end of story ***

imho, Jerome

imho, Jerome