HARTCOURT NEWS. SinoBull and China Cable Networks Debut Financial TV Channel

Press Release
SinoBull and China Cable Networks Debut Financial TV Channel at China National Executive Forum
Superior Technology and Rich Content of SinoBull CCN Financial TV Channel Acknowledged as the First of Its Kind for Chinese Cable Industry
LOS ANGELES--(BUSINESS WIRE)--August 10, 2000-- The Hartcourt Companies Inc. (OTC:HRCT - news; Frankfurt:HCT), www.hartcourt.com, today announced that its subsidiary, SinoBull Financial Group, working in partnership with China Cable Networks (CCN), successfully demonstrated its newly developed SinoBull CCN Financial TV Channel at the 6th Annual China National Cable TV Executive Forum held in Dalian, China.

More than 160 senior executives from most of the major provincial and municipal Cable TV companies as well as government officials from China Broadcasting and Television Bureau, Ministry of Information Industry, and China's Xin Hua News Agency attended this year's Forum. Corporate executives from IBM, Sony and The Hartcourt Companies were also in attendance.

The SinoBull CCN Financial TV channel consists of a standard TV program window for content and advertising, and an enhanced stock quote window. The unique design of the enhanced stock quote window meets a special set of requirements to assist Chinese investors trading at home using real time TV broadcast financial information.

Demonstrations of the financial programming and turn-key technologies were met with wide spread enthusiasm and interest from industry attendees at the Cable TV Forum. Many of the major market cable broadcast providers, including Cheng Du Cable, Hai Nan Cable, Guang Xi TV and Zhe Jiang, expressed strong interest in initiating trial or licensed broadcasting of the SinoBull CCN programming on their citywide cable networks as soon as the live programming becomes available later this year.

Mr. Di Ming, General Director of Cheng Du Cable TV said, ``The SinoBull CCN Financial Channel is the first financial TV program that meets the specific needs of our customers. In Cheng Du, we have over 1 million Cable TV subscribers. We intend to work with the principals in establishing the Sinobull CCN programming into a Premium Cable Channel and believe we will benefit from the increased audience this programming could bring to our cable network.''

``The successful introduction of the SinoBull CCN Financial TV Channel is the first milestone achieved by our recently formed alliance between Shanghai Guo Mao, a SinoBull subsidiary, and China Cable Networks,'' said Hartcourt Chief Operating Officer Dr. Charlie Yang. ``We have enjoyed working with CCN during the early stages of our plan to jointly develop, market and deploy a premium financial TV channel on a nationwide basis to the subscriber base of over 80 million Chinese households. We believe that our superior technology and rich financial content will have broad appeal among TV viewers and cable operators throughout China.''

About China Cable Networks (CCN):

CCN (www.ccn.net.cn) is the leading broadcast TV and full service turn-key cable provider in China. It is jointly owned by various provincial and municipal cable companies including: Beijing Cable, Guang Dong Cable, Zhe Jiang Cable and Wu Han Cable, as well as the Xinhua News Agency. It utilizes the national and local cable TV networks in China to form a national data and information service network and offers value-added services to more than 80 million Chinese cable TV subscribers.

About The SinoBull Financial Group:

SinoBull Group is a financial technology developer and Internet service provider. SinoBull's subsidiaries include: Beijing UAC Stock Exchange Online, Shanghai Guo Mao Science & Technology, SinoBull Network Technology (formerly Shangdi Networks), Financial Telecom (FTL), StreamingAsia and LogicSpace. In addition to quality financial news, real-time market data, financial analysis and commentary via the SinoBull portals, www.sinobull.com.cn and www.sinobull.com.hk, the SinoBull platform enables brokerage firms to provide their clients with the ability to securely trade securities online. The company's E-finance platform is an integration of the most advanced Internet, telecommunication and wireless access systems available on the market today. The service platform and collateral content is offered via subscription to leading securities brokerages, investment firms and banks, as well as media companies throughout Greater China.

About Hartcourt:

The Hartcourt Companies is a holding and development company that is building a network of Internet and telecommunication service companies in The People's Republic of China (China), including Hong Kong, in partnership with Chinese entrepreneurs as well as Chinese government-owned entities. Hartcourt's business goal over the next three years is to complete a series of IPOs or spin-offs focused on three main divisions: the SinoBull E-Finance Platform and wireless financial services; Broadband ISP and Internet infrastructure; and the Financial Transactions Group (online banking, insurance, equipment leasing, mortgages, credit, bill payment, etc.) Detailed information on Hartcourt can be obtained via the company's Web site, www.hartcourt.com.

Forward-looking statements:

Certain statements in this news release may constitute ``forward looking'' statements within the meaning of Section 21E of the Securities Exchange Act of 1934. Such forward looking statements involve risks, uncertainties and other factors, which may cause the actual results, performance or achievement expressed or implied by such forward looking statements to differ materially from the forward looking statements.