Hartcourt Companies (fka HRCT)

[edp73]

and from " Hartcourt Announces Acquisition of Control Tech (Shanghai), a Major Distributor of Videoconferencing Products in China"

The acquisition marks Hartcourt's first step in implementing management's strategy of shifting the business towards higher margin, value-added service sector in the rapidly growing Chinese IT industry.

Mr. Li Yi Zheng, Chairman of Control Tech (Shanghai), comments, "We are delighted to join Hartcourt group at the current expansion stage. The management, marketing and business expertise that Hartcourt can bring to us is crucial for a fast growing company like Control Tech. We believe that the synergies that will result from the acquisition will contribute significantly to both Hartcourt and Control Tech's profitability and business growth in the coming years."