Press Release: MPTV, Inc.
October 6, 2000
NEWPORT BEACH, CA -- MPTV, Inc. (OTC Bulletin Board: MPTV), a Nevada corporation, announced yesterday that a site
visit has been scheduled by Oxford International for the week of October 16th. A confirming letter from Oxford
states, ``At that time, we will be prepared to proceed with a closing document review with your management team
and attorneys.'' MPTV anticipates receipt of the closing documents for review prior to the site walk-through in
Las Vegas, Nevada.
Hurley Reed, CEO of MPTV comments, ``All the conditions for funding of the $52,500,000 construction loan have been
met pending this collateral review by Oxford. We look forward to receiving the loan documents sometime next week
and meeting with Oxford and their corporate counsel in Las Vegas the following week to finalize any outstanding
closing issues and to schedule the closing date.''
Upon closing, Oxford International will fund all the pre-construction expenditures and setup costs for establishing
MPTV's marketing operations, both on and off-site. Oxford International will distribute the remaining funds according
to the proposed construction schedule for the Lake Tropicana Timeshare Project.
Oxford International (www.oxfordint.com) is a private investment banking
firm, established in 1994, to facilitate the financing of business, commercial development and corporate investment
opportunities. Partners of Oxford International include local, national and international banks. Investment banks,
investment trust firms, securities firms, private investors, insurance companies, merchant banks, pension funds
and national asset-based capital providers are also partners.
The Lake Tropicana Timeshare Resort is located in Las Vegas, Nevada between the MGM Grand Hotel/Casino, the new
Aladdin Hotel/Casino on the ``Strip'' and the Hard Rock Cafe and Hotel/Casino on Paradise and Harmon Avenue. The
``Harmon Corridor'' has been designated as a tourist's corridor and is undergoing transformation with two new casino
hotels and three large timeshare projects planned for this area.
Except for the historical information presented herein, the matters set forth in this press release are forward
looking statements within the meaning of the ``safe-harbor'' provision of the Private Securities Litigation reform
Act of 1995. 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.
Website: www.laketropmptv.com
366 San Miguel, Suite 210, Newport Beach, CA 92660
For more information, contact: Serena Riedel,
RealSense.com Investor Relations
Email: MPTV@realsense.com.
SOURCE: MPTV, Inc.