BEIJING, Aug. 31, 2010 (GLOBE NEWSWIRE) -- eFuture Information
Technology Inc. (Nasdaq:EFUT) ("eFuture" or the "Company"), a leading
provider of software and services in China's retail and consumer goods
industries, today announced that it recently sold its 51% ownership
stake in bFuture Information Technology Co., Ltd. ("bFuture"), one of
China's leading Software-as-a-Service ("SaaS") providers in the retail
and consumer goods industry, to Mr. Peter Jiang, bFuture's Founder and
Chief Executive Officer, for RMB3.468 million. The Company, which
initially purchased its stake in bFuture in November 2007, completed
the sale to Mr. Jiang recently. The transaction is not expected to have
a material impact on eFuture's financial results or ongoing business
activity.

A committee comprised of eFuture's independent directors reviewed the
structure of the transaction. eFuture believes that the sale of its
bFuture stake was fairly priced and in the best interests of its
shareholders. The independent committee's review took into
consideration bFuture's current negative book value and recent
financial performance, which includes a net gain in 2008 and net loss
in 2009, with no major changes in its financial positioning anticipated
in 2010.

Mr. Adam Yan, Chairman, Chief Executive Officer and Acting Chief
Financial Officer of eFuture, said, "As we strive to assemble a broad
set of fundamentally strong services and business units, we believe
this move represents a financially prudent decision for eFuture and its
shareholders. We now look forward to focusing on our strategy of
strengthening our software core business, optimizing our revenue mix by
increasing recurring maintenance service and eService revenues,
strengthening our penetration into tier-2 and tier-3 cities, and using
innovation to further broaden our service offering."

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 is one of IBM's premier business partners in Asia
Pacific and is a strategic partner with Oracle, Microsoft and JDA. For
more information about eFuture, please visit
http://www.e-future.com.cn.

Safe Harbor Statement

Statements contained in this press release regarding eFuture's sale of
its interest in bFuture, the expected benefits from the sale and its
expected impact on eFuture's future financial results, as well as all
other statements in this release other than recitation of historical
facts, are forward-looking statements (as defined in the Private
Securities Litigation Reform Act of 1995). Such forward-looking
statements include risks and uncertainties; consequently, actual
results may differ materially from those expressed or implied thereby.
Factors that could cause actual results to differ materially include,
but are not limited to: the ability to achieve and effectively manage
growth; substantial competition from existing competitors and potential
new competitors; general economic conditions; and other risks listed
from time to time in eFuture's reports filed with the Securities and
Exchange Commission, including eFuture's most recent Annual Report on
Form 20-F. Forward-looking statements included herein speak only as of
the date hereof, and eFuture disclaims any obligation to revise or
update such statements to reflect events or circumstances after the
date hereof or to reflect the occurrence of unanticipated events or
circumstances.


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