eFuture Announces $1.8M Share Purchase Agreement

eFuture Information Technology Inc. (Nasdaq: EFUT) today announced that it has entered into a share purchase agreement to sell 337,685 ordinary shares to 13 shareholders for US$1,813,368 in cash. The agreement was effective as of September 23, 2010.

The price of the shares is equal to US$5.37 per share, the average closing price of eFuture's ordinary shares for the 20 consecutive trading days ending on, and including, September 23, 2010. The closing price for eFuture's ordinary shares on September 23, 2010 was US$5.00 per share. The transaction was approved by a committee consisting solely of eFuture's independent directors.

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