BY THE WAY++ HARTCOURT++ NEWS
hjw2 : BY THE WAY++ HARTCOURT++ NEWS
Long Beach, CA. 02/14/00 -- The Hartcourt Companies,
Inc. (OTC: HRCT, Frankfurt: HCT), www.hartcourt.com,
announced that it has signed an agreement to purchase
30% of eMPACT Solutions Inc., an E-Commerce Systems
Management company, that specializes in providing
back-office infrastructure for Internet companies.
The services include technology selection, system
design and management, transaction performance
monitoring, resource utilization tracking and
eMPACT was founded in 1999 as an Internet consulting
firm. It has since designed a turn-key solution to
make E-Commerce Systems Management simple and
affordable for smaller companies and expects to
generate significant revenue from remotely monitoring
these Web Sites. eMPACT's management team includes
high-profile software engineers who have worked at
major financial, insurance, telecom, and internet
firms to support, monitor and manage missions
critical IT systems.
Dr. Alan Phan, Chairman & CEO of Hartcourt, said: "We
are building a strong Technology Group of companies
which have leading edge, state of the art expertise
in this next generation Internet environment. As a
necessary component for our China strategy, what I
like best about eMPACT is the concentration of
talent, creativity and impressive credentials. They
could compete with the best in the Internet world.
eMPACT is projected to generate revenues greater
than $7 Million in 2000."
Mr. Gunil Chung, Chairman & CEO of eMPACT, said: "We
are very excited by this investment from Hartcourt
because it will enable us to rapidly grow and execute
our business plan. But it is also a partnership, one
that will create tremendous opportunities both in the
U.S., and in emerging markets like China."
Certain statements in this press 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 achievements
expressed or implied by such "forward - looking"
statements to differ materially from the "forward -