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To: Currency who wrote (397)	10/2/1999 11:18:00 AM
From: Silver Fox	Respond to of 403

NVXE! Press Release; New Visual Entertainment, Inc. and Astounding.com, Inc. Sign Definitive Merger Agreement SAN DIEGO, Oct. 1 /PRNewswire/ -- New Visual Entertainment, Inc. (OTC Bulletin Board: NVXE) announced today that it has signed a definitive agreement for the Company to merge with Astounding.com, Inc., a development stage internet company that intends to broadcast high-quality, full-screen video in real time and on demand content over the internet. This transaction was previously announced on September 15, 1999. Consummation of the merger is subject to various conditions, and is expected to occur next week. After the merger is completed, Astounding.com will become a wholly-owned subsidiary of New Visual. New Visual Entertainment, Inc. is a true stereoscopic 3D production company that specializes in 3D product development and distribution for special venue theaters, home video, broadcast and theatrical markets by utilizing patented technology for the creation and exhibition of 3-dimensional media. Its stock is traded on the Nasdaq stock market's over-the-counter bulletin board under the symbol NVXE. Lilly Beter Capital Group, Ltd., with offices in Washington, DC, New York, California, Florida, Minnesota, Illinois, Gibraltar, Turks and Caicos Islands, and the British West Indies, is providing investor and public relations services for the Company and can be reached at 561-361-1030. With the exception of the historical information contained in this release, this release includes forward-looking statements made under the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, including but not limited to the following: product development difficulties; manufacturing difficulties; market demand and acceptance of products; the impact of changing economic conditions; business conditions in the internet, computer, and 3D film and video industries; reliance on third parties including potential suppliers, licensors and licensees; the impact of competitors and their products; risks concerning future technology; and other factors detailed in this release and in the Company's Securities and Exchange Commission filings. SOURCE New Visual Entertainment, Inc. CO: New Visual Entertainment, Inc.; Astounding.com, Inc.; Lilly Beter Capital Group, Ltd.