Hartcourt Companies, Owner of China-wide Internet Businesses, Retains FRB BSMG; Premier Chinese Financial Portal, Sino Bull, Among Hartcourt Holdings

Business Wire, April 4, 2000

Business Editors & Internet Writers

LONG BEACH, Calif.--(BUSINESS WIRE)--April 4, 2000

The Hartcourt Companies Inc. (OTC:HRCT) (Frankfurt:HCT), www.hartcourt.com, today announced that it has retained FRB BSMG Worldwide to provide investor relations services.

Hartcourt is one of America's fastest-growing stocks and the holding company for Chinese Internet businesses.

Hartcourt's share price has risen more than 5,000%, with its market capitalization increasing commensurately over the past 15 months as the company has increased its ownership and development of several Chinese Internet-based businesses, including Sino Bull, which Hartcourt Chairman and Chief Executive Officer Dr. Alan Phan described as "the premier financial portal of Chinese Internet."

Phan said: "As a rapidly emerging company seeking Nasdaq National Market System status and increase their visibility to investors, we have retained FRB BSMG to help build new relationships in the investment community, establish a more recognizable position among investment choices and to better communicate with their shareholders.

"As the leading provider of investor relations counsel in the United States, with many well-established relationships abroad, we expect FRB BSMG to be an important contributor to our market support as we continue to grow rapidly in our business and our relationships with the Street," according to Phan.

About Hartcourt

Hartcourt is building a network of Internet companies in China in partnership with young Chinese entrepreneurs as well as government-owned entities. Its mission is to become one of the leading Internet companies in Asia. Its subsidiaries just launched a comprehensive financial portal called Sinobull.com, which has generated more than 8 million pageviews in the first 20 days of operation.

Another joint venture is preparing to start a wireless Internet ISP and IP phone service using satellites for data and voice transmission. Detailed information on Hartcourt can be obtained via the company's Web site, www.hartcourt.com.

Abut The Financial Relations Board (FRB)

FRB was established in 1961, and is regarded as the world's oldest and largest agency specializing in investor relations and financial communications. Its clients include more than 3 percent of all companies listed on the New York Stock Exchange and American Stock Exchange, and more than 5 percent of all companies listed on the Nasdaq National Market System.

With its broad expertise in working with e-commerce companies, FRB BSMG will begin implementing an active investor relations program for Hartcourt to create greater visibility for the company, its products and services among the financial community.

Forward-Looking Statements

This news release includes forward-looking statements that depend on circumstances that may or may not occur, including the performance of the companies now held, the acquisition and performance of new companies and other factors listed in the company's Form 10-K for the period ending Dec. 30, 2000. Changes in these factors could alter the company's financial performance and future prospects.