ElephantTalk, France Telecom Team

HONG KONG -- Elephant Talk Communications, Inc. (OTC Bulletin Board: ETLK - News) announced the signing of a bilateral carrier's agreement with Europe's prestigious telecom giant, France Telecom, to transmit voice traffic from Greater China throughout Europe. ElephantTalk estimates the agreement will generate additional telecommunications traffic flow of approximately 60 million user minutes per month as a result of more cost-efficient routes. ElephantTalk is a former majority owned subsidiary of the Hartcourt Companies, Inc. (OTC Bulletin Board: HRCT - News).

"We look forward to working with France Telecom, one of the world's leading telecommunications companies," commented Mr. Russelle K.P. Choi, ElephantTalk's President and CEO. "ElephantTalk's services and networks will be significantly enhanced by France Telecom's broad international network coverage and their world renowned telecom research center. The infrastructure strength and extensive industry contacts of ElephantTalk in Greater China's telecom sector combined with France Telecom's world leading network hub positions our companies to serve as China's preferred telecommunications gateway to the European continent."

The Vice President of France Telecom's Network and Carriers Division -- Asia, Mr. Jean-Francois Thomas, added, "Our agreement with ElephantTalk is the latest example of our commitment to telecom growth in China and Asia more generally, which we see as a key priority in France Telecom's international wholesale strategy. By interconnecting with competitive service providers like ElephantTalk, we are also opening up more quality routes for our 1,000 carrier customers worldwide. We look forward to a long relationship with our new partner."

Elephant Talk Communications Inc.

France Telecom SA