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Re: Red Eagle post# 152

Friday, 04/12/2002 6:43:37 AM

Friday, April 12, 2002 6:43:37 AM

Post# of 200
NEWS! ------ and more !! :)

Sinobull Distributes Financial Data Services in China Via Mobile Short Messaging (SMS) Hartcourt Subsidiary Signs Key Distribution Deals

LOS ANGELES, Apr 12, 2002 /PRNewswire-FirstCall via COMTEX/ -- The Hartcourt
Companies, Inc. (OTC Bulletin Board: HRCT) www.hartcourt.com, announced today
that its subsidiary, Sinobull Network Technology, has signed partnership
agreements with five of Greater China's leading telecom and Internet companies
to begin the distribution of its comprehensive financial information, stock
quotes, and analysis on the local and international stock markets to millions of
mobile phone users in China. Sinobull Network owns and operates www.sinobull.com
, one of the leading financial information portals in China ... voted "Most
Popular Financial Web Site" two years running by the China Security Times.

The company's recently signed revenue sharing deals with key players in the
mobile data business include:

-- UTStarcom (Nasdaq: UTSI) www.utstar.com -- the key supplier of PAS

mobile networks and equipment for China Telecom, China's largest

telecom company

-- CellStar www.cellstar.com -- one of China's largest mobile phone


-- China Telecom 168 -- 168 is the SMS service of China Telecom

-- HongLian95 www.hl95.com -- a major value added telecom services

provider in China

-- Sina.com (Nasdaq: SINA) www.sina.com -- one of Greater China's largest


-- China Telecom Hotline -- information hotline services from China

Telecom, via fix line

"Mobile data communication is a very exciting area of growth for the mobile
communication industry, and Sinobull Network has successfully leveraged its
unique advantages in financial content to secure revenue sharing agreements with
these key industry players", said Dr. Wallace Ching, Hartcourt's CEO. "The
agreements have generated revenue from day one, and we expect a very healthy
growth in this business as the mobile data market continues to expand."

China has recently passed Japan and the US and now has the largest mobile phone
user population in the world, with approximately 140 million registered
subscribers. Data mobile communication is becoming a very important sector of
revenue growth for carriers. Short messaging service (SMS) enabled mobile chat,
financial data, and other forms of data communication have become very popular
with mobile users and is growing at a rapid rate. According to industry reports,
SMS traffic is projected to generate approximately 300 million USD for China's
mobile phone markets in 2002.

Hartcourt has announced that it will publicly divest its operating division, the
Sinobull Financial Group, 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 markets.

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 .

About Sinobull Financial Group

Sinobull Financial Group develops financial technology, financial operating
platforms and internet-based financial services. Sinobull's operating companies
include: Sinobull Information Company Ltd., Sinobull Network Technology,
Financial Telecom Ltd., Ton Bo software, HCTV Financial TV channel Ltd. and
Sinobull Magazine Ltd. Sinobull.com 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, analysis and electronic
communications. Clients include China's investment institutions, commercial
banks, government offices and agencies, corporations, and news/media
organizations. 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.



SOURCE The Hartcourt Companies, Inc.

CONTACT: Larry Kristof of Lexington Enterprises Ltd., +1-604-484-8286,

or fax, +1-604-484-8287, info@lexingtonenterprises.com, for The Hartcourt

Companies, Inc.

URL: http://www.sinobullfinancial.com




Copyright (C) 2002 PR Newswire. All rights reserved.

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