Hartcourt Companies (fka HRCT)

[Tin-Berrygood]

July Q&A***Shareholder's Question and Answer

1. Do you have a specific time frame for any of the spin offs?..If not specific, can you say whether they will be completed by 2004 year end?

2. I'm confused about the percentage of ownership, going to Hrct shareholders concerning the SinoBull spin off..As I recall, 17% was stated earlier..Has that percent changed in some way?.Or am I misreading your answer in the June Q&A?.

3. Not being specific, can I ask if there is still a road show planned for Sept.?..Before or after the Shareholders meeting?

4. We can see that David Chen is not on the ballot for Chairman of Hrct...Can you tell us about his future plans, or will there be a PR coming to address this?...Or will Hrct wait until the shareholders meeting to make this info available?