September 18, 2000

    HEADLINES---

Hal Hayden Going Nuts????

Hi Kit -

You know what drives me nuts? Every one of the players and wannabe players in the internet corner of the leasing and commercial finance space keeps spewing our press releases with this kind of garbage:
" LeaseForum claims to be the only online commercial equipment leasing marketplace providing lessees an integrated suite of Web-based solutions for managing the leasing lifecycle..."
Being in the business of providing web-based tools and private markets for the industry, I can honestly say that nobody can - at this point - claim to be the "only", the "best" or anything else. It's a new frontier and press releases are often nothing more than propaganda dreamed up by some marketing person. I am just sick of seeing these, and caution everyone in the industry to read them with the same healthy skepticism that they would read a credit write-up on a two-time bankruptcy. (If our own marketing and PR people ever go this far overboard, I promise to give them the same lecture!)

Hal

Hal Hayden

HalH@CapitalStream.com

( I keep the PR Newswire at the front, and often label them as "press releases." Hal is not going nuts. He is right on. This is quite typical in business news to use the press release "as is." Most of these are "unedited" and Hal is very observant, many of them say they are the "only one," "the premiere leader," and other hyperbole which is far from reality. See our eSales list at www.leasingnews.org---editor ).

Hartcourt Announces Webcast Link for Press Conference

LOS ANGELES, Sept. 18 /PRNewswire/ --
The Hartcourt Companies, Inc. (OTC Bulletin Board: HRCT; Frankfurt: HCT) announced today that the Press Conference scheduled for this Thursday, September 21, 2000 at 11:30 a.m. Hong Kong time (11:30 p.m. Wednesday, 9-20-00 EDT) will be held at the Conrad International Hotel, Pacific Place, 88 Queensway, Hong Kong. The entire press conference will be webcast live via the Internet by Hartcourt subsidiary, StreamingAsia.com, Inc. Those interested in watching or listening the conference can access the event via a hyperlink that will appear on the Hartcourt corporate website: www.hartcourt.com or at www.streamingasia.com.

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 Hartcourt Capital Inc., the financial transactions group which is developing online services such as: 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.

SOURCE The Hartcourt Companies, Inc.
CO: Hartcourt Companies, Inc.; StreamingAsia.com, Inc.
ST: California, China
IN: MLM TLS

Compaq launches paperless leasing

HOUSTON, /PRNewswire/ -- Compaq Financial Services Corporation, a wholly owned subsidiary of Compaq Computer Corporation (NYSE: CPQ), will launch Paperless Leasing(SM), an Internet-based financing tool, in the U.S. in October. With Paperless Leasing, which delivers on Compaq's "everything to the Internet" strategic imperative, Compaq Financial Services is the first technology financing company to introduce a financing tool that eliminates paper from the lease contract process. This revolutionary capability enables customers of Compaq authorized partners to conduct financing completely online, giving them a fast, simple, and paperless experience on transactions under $50,000.

How Paperless Leasing Works

Compaq partners can submit lease transactions over Compaq's secure Web site and receive credit decisions in seconds. The entire lease transaction documentation process can take place online, from document acceptance through the customer making electronic advance payments. Compaq authorized partners retain complete account control throughout the process.

Benefits to Customers

Paperless Leasing takes away "the woes of paperwork" traditionally associated with leasing. By removing paper from the lease contract process, Compaq Financial Services has eliminated a customer's need to fax or use overnight delivery and the waiting period for paper documents to be exchanged. An all-online leasing transaction makes the process as fast and simple as possible.

Benefits to Compaq Partners

Leasing industry statistics show that financed transactions are on average 35 to 40 percent larger than cash purchases. Paperless Leasing enables Compaq partners to more easily use leasing as a powerful closing tool by enabling:

-- Faster Processing -- By submitting lease applications online, credit decisions are generated in seconds, which expedites the entire lease transaction process including payment to Compaq partners.

-- Information Access -- Online deal status tracking and e-mail notification keeps Compaq partners in control of the transaction throughout the entire process.

-- No Paperwork -- Paperless Leasing eliminates the need for physical execution of documentation and all the faxing and mailing back forth traditionally associated with leasing.

"We're making significant investments in building strategic capabilities that harness the power of the Internet for our customers and partners," said Irv Rothman, President and CEO, Compaq Financial Services. "We will continue to work to expand these capabilities globally, and to a broader set of Compaq customers, in our drive to e-financing leadership," added Rothman.

Nominate your favorite Equipment Leasing Web Site for our Web Site Contest If you are the first to nominate the site and it wins, we will not only give you credit, but send you a bottle of wine or box of chocolate

CreditLine LeaseManager offers New Features in Latest Release

Pittsburgh, PA- CFS Americas, Inc., a leading provider of inventory finance administration and lease management solutions for the asset-based finance industry, recently released CreditLine LeaseManager 1.7. The latest release offers several new and enhanced features designed to meet the unique needs of this diverse industry.

"We continue to poll the marketplace to determine the changing business and technology requirements and build a product which offers real business benefits to our customers", said Ken Kolenik, Product Manager at CFS Americas. "LeaseManager 1.7 addresses these needs with new Tax Depreciation features that allow lessors to easily manage depreciation through and including final disposition as well as managing the impact of AMT. This release also provides support for Sales Type Leases including the proper accounting treatment. Enhanced Securitization functionality has also been added to the External Funding piece of the system. Each of these new features is engineered to improve the flexibility, speed and efficiency with which lessors process critical daily operations."

CreditLine LeaseManager 1.7 has also seen enhancements to other existing components. Two enhancements have been made to the ACH functionality. For returns, customers can now automatically process a bank file to make the necessary cash adjustments. For open transactions, the customer has the ability to ACH the first payments for contracts or assets separately from other transactions. Additional system enhancements include improved On-line Help Files, Canadian Sales Tax Support, improved Lockbox features, Credit Bureau reporting for Metro 2 format, user-definable termination calculation methods and additional income recognition methods. These enhancements make CreditLine LeaseManager a more robust and flexible portfolio management solution.

CFS Americas, Inc. is a wholly owned subsidiary of CFS Group plc. CFS is a world leader in providing software solutions and support for lease/loan portfolio management and inventory finance administration.


September 18,1709 Samuel Johnson birthday

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Date: 09/18/00
Time: 09:19:30

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In a widely celebrated race, the first locomotive build in America, the Tom Thumb, lost to a horse in a famous race this day in 1830. Mechanical difficulties plagued the steam engine over the nine-mile course between Riley's Tavern and Baltimore, Maryland, and a boiler leak prevented the locomotive from finishing the race. In the early days of trains, engines were nicknamed "Iron Horse." people thought the steam locomotive would never replace the horse, which was faster, more mobile, and " user friendly." It was not until recently that television shows premiered in October. They used to be in September, and today saw "Jerry Mahoney," 1950; "Wagon Train, 1957; " Shirley Temple Show," 1960; "The Adams Family," 1964; "Get Smart," 1965; "Love Is a Many Splendored Thing," 1967, a very popular soap opera.