Press Release: MPTV, Inc.
January 2, 2001
IRVINE, CA -- MPTV, Inc. (OTC Bulletin Board: MPTV), an innovator in Timeshare Resort Development, Monday announced
that it has received a Loan Commitment in the amount of $13.44 million from International Commercial Finance, a
leading real estate construction lender.
The loan will be used for the construction of Phase I of MPTV's Lake Trop property in Las Vegas. Phase I construction
will convert the current Lake Trop property into a world-class timeshare resort.
Mr. Eli Shalom, CEO of International Commercial Finance commented on the loan, ``ICF has evaluated this lending
opportunity and conducted all of the necessary due diligence. We believe that MPTV can create great value through
the renovation and timeshare marketing of Lake Trop. We have delivered a commitment to MPTV and we look forward
to their formal acceptance of our offer so that we may move ahead promptly with the closing of the loan.''
Mr. Hurley Reed, CEO of MPTV added, ``We are very pleased to have received this commitment from International Commercial
Finance. Due to their extensive experience in commercial and hotel real estate lending, ICF is a great funding
partner for us. We are now thoroughly reviewing the Loan Commitment and its terms and we plan to respond to ICF
shortly.''
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 reach definitive
agreements with potential acquisition candidates; failure to find attractive acquisition candidates; 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.