!!!!NEWS JUNE 9, 1998!!!!
Magic Entertainment, Inc. Announces Pre-sales From Cannes Film Festival
Company Announces $3.3 Million In Pre-Sales For Four Films
Business Editors
NEW YORK--(BUSINESS WIRE)--June 9, 1998--Magic Entertainment, Inc., a wholly owned subsidiary of 1st Miracle Group, Inc. (OTC BB: MVEE) today announced that it has captured $3.3 million in pre-sales at the recent Cannes Film Festival. The company noted it has pre sold four of its upcoming films in several foreign markets. The total budget for the four films is approximately $11 million.
Commenting on the announcement, Menahem Golan, co-chairman, stated, "We are pleased by the strong response to these four films, which include Delta Force One and Escape to Grizzly Mountain, as well as the overwhelming response the Golan/Globus team received. We were able to make contact with many of our past distributors as well as other friends. There is no question that Golan & Globus are back!"
The company further noted that it was able to achieve such pre-sales in only one month and that most territories, including North America, are still open.
Magic Entertainment, a wholly-owned subsidiary of 1st Miracle Group, Inc., was co-founded by Menahem Golan and Yoram Globus to produce and distribute feature length films.
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