MPTV Renews Building Permits for Its Lake Tropicana Timeshare Resort
IRVINE, Calif., Aug 09, 2002 /PRNewsire-FirstCall via Comtex/ -- MPTV, Inc.
(OTC Bulletin Board: MPTT), an innovator in Timeshare Resort Development, today
announced that it has renewed with Clark County, Nevada its previously granted
Building Permits for the renovation of the five buildings at its Lake Tropicana
timeshare development.
"We have renewed all of our building permits with Clark County so that we may
remain in a state of readiness to begin construction as soon as our funding
closes. We look forward to initiating construction and realizing timeshare
revenues," stated Mr. Hurley Reed, MPTV's CEO.
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.
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 consummate a funding transaction; 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, 2001 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.
CONTACT: Shareholders, Laurel Moody of Vision Consulting,
+1-212-446-6109, laurel@visioncc.net, for MPTV, Inc.
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