eFuture Announces the Purchase of Convertible Notes

eFuture Information Technology Inc. EFUT today announced the purchase of senior convertible notes with a total aggregate outstanding principal amount equal to US$1 million. The notes were issued by the Company on March 13, 2007 and were due on March 12, 2012. eFuture purchased the notes for US$1 million from institutional investors. The sellers agreed to waive all outstanding interest payments. The purchase was made from eFuture's cash reserves, and is not expected to have a material impact on the Company's business operations or growth plans.