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To: Bram12345 who wrote (46896)	5/15/2000 12:22:00 PM
From: Jesse James	Read Replies (1) \| Respond to of 150070

MVEE...BIG TIME NEWS!!!: Here's the link (MVEE has not yet sent this out over wires!) variety.com May 15, 2000 CANNES -- A $30 million sequel to the iconic 1969 film "Easy Rider" and the next film from "Kiss Me Guido" director Tony Vitale top the slate from Miracle Entertainment, which has merged with Martin Landau's Silver Street Pictures to create an independent production company that will produce five to seven titles annually. Tony Cataldo serves as chairman of the company, Silver Street co-founder Richard Abramson is president and chief operating officer, and Landau will be a Miracle board member. Producer Glen Tobias ("The Gingerbread Man") obtained the "Easy Rider" sequel rights, with an option for two more, from Bert Schneider, exec producer of the original. Principal photography is slated to begin this fall, using many of the locations utilized in the original. Mikki Allen Willis, whose debut film "Shoe Shine Boys" was exec produced by Landau, will write and direct. Producers are Tobias, Abramson and Cataldo. Landau will serve as an exec producer of "Rider 2." Foreign investment Silver Street, which Abramson and Landau launched in 1996, is now housed under the Miracle umbrella as a separate company controlled by Abramson and Landau. Miracle also plans to purchase or invest in a foreign sales company and acquire a personal management company as well as a television production company. Backing for P&A at Miracle will come through a venture with Reliance National Insurance, with 80% of the production financing coming via a newly minted insurance arrangement and a New York private investment fund that provides insurance collateral as well as interest as equity capital. The balance of the production financing will come from tax subsidy arrangements, studio partners or the company's own equity. Cataldo said Miracle has cash and equity that reaches well into eight figures for development, pay-or-play offers or bridge financing. The Miracle slate includes the following: "Jungle Juice." Budgeted with $5 million in equity financing, Vitale will direct this raunchy comedy set in the Caribbean from his own script, with a July 10 start date. Pic stars Darren Geare and R.J. Knoll ("Shoe Shine Boys"). "Funny Money." Budgeted at just north of $20 million, "Funny Money" is based on the hit British play by Ray Cooney. Leslie Greif and Harry Basil penned the script; Greif will direct. Cataldo and Abramson will produce along with Greif; Landau, Al Ruddy and Cooney are exec producers. Principal photography is set to begin this fall in Winnipeg, Canada, and New York. "Alicia's Book." Photography on this co-production with Millennium Films is slated to begin this fall. Avi Lerner, Cataldo and Pinchas Perry are producers, with Abramson serving as exec producer. Abramson said Miracle plans to provide most of the financing for its films and distribute titles through studio rent-a-systems. Abramson said the insurance-backed P&A fund will allow Miracle to provide domestic studio distributors with at least $13 million for a release that includes 1,250 prints, marketing and publicity materials and media buys. In return, Miracle expects to pay reduced distribution fees and profit participation to the studio. Last November, Miracle Entertainment began cobbling together the company's financing strategy through an alliance with Silver Street, which brought the P&A fund along with a slate of development projects. Miracle Entertainment is the result of Cataldo's restructuring of Yoram Globus and Menahem Golan's Los Angeles-based First Miracle Group last spring. Globus exited the company while Golan remained as a consultant. First look Miracle also has a first-look agreement with Emmett/Furla Films, which recently produced titles such as "After Sex," starring Brooke Shields; "Speedway Junky," starring Darryl Hannah and Jonathan Taylor Thomas; "Held for Ransom"; and "Escape to Grizzly Mountain." Just after Silver Street launched in 1996, the company announced that it had received a $100 million pledge from Reliance Group Holdings Co. to underwrite distribution costs for five films, with domestic distribution in place from MGM and international through Largo Entertainment. Silver Street did not produce any films, however. Last July, Landau and his Silver Street partners lost a suit in which they claimed their company was entitled to $22 million from New York-based Centre Reinsurance Co. Silver Street alleged that the firm made a $30 million verbal agreement in 1996 to fund their films, but a jury in federal court decided there was not enough evidence to show that a deal was made. Cataldo is the former chairman-CEO of trading systems software outfit MTI Inc. and Senetek, a biotech company involved in aging-related therapies. He also served as exec VP and co-founder of banking software manufacturer and retailer Hogan Systems and president of Internet banking pioneer Internet Systems. Get the full story. Subscribe to VarietyExtra! Front Page \| Search \| Subscribe

To: Bram12345 who wrote (46896)	5/15/2000 12:22:00 PM
From: SSP	Read Replies (1) \| Respond to of 150070

CARH - I agree, "This item, as well as additional business matters, will be presented for shareholder approval at this meeting. The primary item on the agenda will be the resolution to split the share capital of the company on a 4 for 1 basis (four new shares for each share presently held on the determined record date). The company is currently putting all of the required regulatory materials together for a mail-out to all shareholders, expected to occur on April 20, 2000." biz.yahoo.com