Press Release: MPTV, Inc.
February 11, 2002
IRVINE, CA -- MPTV, Inc. (OTC Bulletin Board: MPTT), an innovator in Timeshare Resort Development, and its lender,
International Commercial Finance (ICF), announced Friday that their $13.44 M Phase I construction loan is to close
by the end of the business day on Tuesday, February 12, 2002.
``We've all been working very hard to get this loan closed on schedule. We are almost 100% there. However, due
to east coast-west coast time differences and express shipping times for documents, we have run into a 24-48 hour
delay. We fully expect to have all of our documentation in order and to close by the end of business on Tuesday,''
stated Mr. Eli Shalom, CEO of ICF.
The loan will be used for construction of Phase I of MPTV's Lake Trop property in Las Vegas. MPTV has already been
granted building permits for Phase I, which comprises of the conversion and remodeling of Lake Trop into a world-class
timeshare resort.
About International Commercial Finance
International Commercial Financing is a Southfield, Michigan-based private lender that focuses on lending for land
acquisitions and development, along with an array of innovative programs for all kinds of commercial lending transactions.
ICF's programs include its 100% construction financing capabilities. Currently ICF is negotiating deals in three
countries and domestic transactions from California to Florida.
MPTV, Inc.
MPTV develops and markets timeshare resort properties. The Company's principal asset is a multi-million dollar
resort property called Lake Tropicana. MPTV's current project is the Lake Tropicana Timeshare Resort and Towers
( www.laketropmptv.com ) located in Las Vegas, Nevada between the MGM
Grand Hotel/Casino and the Aladdin Hotel/Casino on the ``strip'' and the Hard Rock Cafe on Paradise and Harmon
Avenue. The ``Harmon Corridor'' is undergoing transformation with two new casino hotels and three large timeshare
projects planned for this area.
Shareholder Contacts: Laurel Moody, Vision Consulting, Email laurel@visioncc.net, Calls: 212-446-6109.
Serena Riedel, Email: serenariedel@aol.com.
This press release contains forward looking statements within the meaning of the ``safe-harbor'' provision of the
Private Securities Litigation reform Act of 1995 about the Company's financial condition and business prospects
that involve substantial risks and uncertainties. You can identify these statements by the fact that they use words
such as ``anticipate,'' ``estimate,'' ``expect,'' ``project,'' ``intend,'' ``plan,'' ``believe'' and other words
and terms of similar meaning in connection with any discussion of future operating or financial performance. Among
the factors that could cause actual results to differ materially are the following: failure to meet conditions
of the loan; increases in interest rates; a decline in the Las Vegas real estate market or the timeshare market
in general; and general economic conditions in the United States. A further list and description of these risks,
uncertainties and other matters can be found in the Company's Annual Report on Form 10-KSB for the fiscal year
ended December 31, 2000 and in its periodic reports on Forms 10-QSB and 8-K (if any). These forward-looking statements
are subject to risks and uncertainties that may cause actual results to differ materially. These forward-looking
statements speak only as of the date hereof. The Company disclaims any intent or obligation to update these forward-looking
statements.
SOURCE: MPTV, Inc.