eFuture Announces the Launch of T+1 Supply Chain Financing Service

BEIJING, June 1 /PRNewswire-Asia/ -- eFuture Information Technology Inc.
(Nasdaq: EFUT, the "Company", or "eFuture"), a leading provider of software
and services in China's rapidly growing retail and consumer goods industries,
today announced the launch of a pilot T+1 Supply Chain Financing ("T+1 SCF")
program with a multi-tenant architecture offered through its subsidiary,
Beijing bFuture Information Technology Co., Ltd. ("bFuture").
As a leading provider of Software-as-a-Service ("SaaS") in the retail and
consumer goods industries in China, bFuture is dedicated to facilitating the
efficient flow of goods and services between retailers and their suppliers. As
such, the Company has launched an innovative T+1 SCF pilot program to provide
value-added multi-tenant financing services for small- and medium-sized
suppliers. The pilot program is being rolled out at Beijing Modern Plaza, an
upscale department store located near the heart of Beijing. To date, eight of
Beijing Modern Plaza's suppliers have employed bFuture's T+1 SCF service.
As part of the bFuture SaaS platform, the SCF service will allow a select
group of retailers with good credit ratings to receive limited short-term
loans from Shanghai Pudong Development Bank. For suppliers in the retail
industry in China, the typical accounts payable cycle is 45 to 90 days. With
bFuture's T+1 SCF service, suppliers will be able to receive payment from
banks by the second day following the transaction (T+1), and the retailers
will be required to repay the loans to the banks via their usual settlement
accounts. While the suppliers will need to pay a service fee to use the T+1
SCF platform, it is free of charge for the retailers.
The goal of the program is to shorten the payment cycle between retailers
and their small- and medium-sized suppliers, a mutually beneficial proposition
which will ensure retailers provide timely delivery of goods their customers
demand by assisting their suppliers to increase liquidity.
Commenting on the announcement, Mr. Adam Yan, Chairman and CEO of eFuture,
said, "The launch of bFuture's T+1 SCF service represents another important
milestone in the development of our Software-as-a-Service strategy, a key
long-term growth driver for eFuture. The benefits of this service to both
retailers and suppliers are clear, and we believe the success of the Beijing
Modern Plaza pilot program will provide us with a solid foundation upon which
to extend the service. By alleviating some of the liquidity pressures faced by
many small- and medium-sized suppliers, we believe bFuture's T+1 SCF service
will lead to increased domestic demand as well as an optimized front-end
retail supply chain structure. Our focus remains on helping our clients cut
costs and increase efficiency as we build a successful multi-tenant eService
model in the retail and consumer goods industries."
About eFuture Information Technology Inc.
eFuture Information Technology Inc. (NASDAQ: EFUT) is a leading provider
of software and services in China's rapidly growing retail and consumer goods
industries. eFuture provides integrated software and services to
manufacturers,
distributors, wholesalers, logistics companies and retailers in China's
front-end supply chain(from factory to consumer) market, especially in the
retail and fast moving consumer goods industries. eFuture currently serves
over 15 Fortune 500 companies, over 1,000 retailers and over 5,000 suppliers
operating in China. eFuture is one of IBM's premier business partners in Asia
Pacific and is a strategic partner with Oracle, Microsoft, JDA, Motorola and
Samsung Network China. eFuture has more than 600 employees and 20 branch
offices across China. For more information about eFuture, please visit
http://www.e-future.com.cn/
For more information, please contact:

Investor Contact:
Troe Wen, Company Secretary
eFuture Information Technology Inc.
Tel: +86-10-5293-7699
Email: ir@e-future.com.cn

Investor Relations (US):
Mahmoud Siddig
Taylor Rafferty
Tel: +1-212-889-4350
Email: eFuture@Taylor-Rafferty.com

Investor Relations (HK):
Ruby Yim
Taylor Rafferty
Tel: +852-3196-3712
Email: eFuture@Taylor-Rafferty.com

Media Contact:
Jason Marshall
Taylor Rafferty
Tel: +1-212-889-4350
Email: eFuture@Taylor-Rafferty.com

SOURCE eFuture Information Technology Inc.

Investor Contact - Troe Wen, Company Secretary of eFuture Information
Technology Inc., +86-10-5293-7699, or ir@e-future.com.cn; Investor Relations
(US) - Mahmoud Siddig, Taylor Rafferty, +1-212-889-4350, or
eFuture@Taylor-Rafferty.com; Investor Relations (HK) - Ruby Yim, Taylor
Rafferty, +852-3196-3712, or eFuture@Taylor-Rafferty.com; Media Contact -
Jason Marshall, Taylor Rafferty, +1-212-889-4350, or
eFuture@Taylor-Rafferty.com