Replies to post #68320 on Hartcourt Companies (fka HRCT)

[Sir Knight]

OT: FLTL Found this on the new web site: www.mkacapital.com

Source: Financial Telecom Limited (USA) Inc.

Shanghai, December 6, 2005, 6:00am EST

Press Release

Fintel continues with new investments

Shanghai, December 6, 2005, -- /BusinessWire/ -- Financial Telecom Limited (USA) Inc. (OTCBB: FLTL), announced today its subsidiary, Fintel Group Ltd (FGL), has signed an agreement to acquire a 19.5% equity interest in Beijing CDWZ Information Technology (“CDWZ”), from Beijing YZHL Information Technology Co., Ltd. (“YZHL”).

The 19.5% equity interest in CWZ Ltd is valued at $284,977. The consideration paid is FGL’s 11.755% equity interest in Beijing Sinoskyline Industrial Trading Co., Ltd. As part of the acquisition, FGL has signed a service contract with CDWZ, valued at US$722,220 which is payable monthly at the annual rate of $72,222 for 10 years.

The investment is made as part of our continuing efforts to maximize returns on our investments. Shareholders should expect to see adjustments to our portfolio from time to time, to take advantage of new market conditions and investee prospects.


About Financial Telecom Limited (USA), Inc. (Fintel Group)

Fintel is an investment and financial services company, focusing on small and medium size enterprises (SMEs) in Chinese private sectors. Our portfolio investments generate annual cash return of 15% to us and allow us to participate on the future equity growth. For further information please visit www.fintel.com

Forward-looking statements:
The statements made in this press release, which are not historical facts, may 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.

Contact: Ms. Flora Song
Tel: [phone] Fax: [phone]
Email: [e-mail]