And Now for the NEWS!
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: info@lexingtonenterprises.com
T: 604.484.8286
F: 604.484.8287
AI
