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Microcap & Penny Stocks : MPTVE - Turnaround With Huge Potential -- Ignore unavailable to you. Want to Upgrade?

To: WR61499 who wrote (5753)	10/12/2000 9:29:33 AM
From: James Lee Baldwin	Respond to of 5783

NEWS:MPTV, Inc. Announces Agreement to Buy Out All Star Resorts' Interest in Lake Trop LLC NEWPORT BEACH, Calif., Oct. 12 /PRNewswire/ -- MPTV, Inc. (OTC Bulletin Board: MPTV), a Nevada corporation, announced today that it has signed an agreement to acquire All Star Resorts' interest in the Lake Trop LLC in Las Vegas, Nevada. This acquisition gives MPTV, Inc. 100% ownership of the LLC, clearing the way for MPTV to develop the Lake Tropicana Timeshare Resort and Towers. "We have been pushing hard to complete this agreement from the moment that All Star Resorts offered to sell its interest," stated Hurley Reed, Chairman/CEO of MPTV, Inc. Mr. Reed added, "All Star has given us what we need to move to the next level as a company. With MPTV in control of the LLC, we look a lot more attractive to financiers, partners, directors, employees and others." MPTV, Inc.'s current project is the proposed Lake Tropicana Timeshare Resort and Towers located in Las Vegas, Nevada between the MGM Grand Hotel/Casino, 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. 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 CONTACT: Serena Riedel, RealSense.com Investor Relations, Email: MPTV@realsense.com. SOURCE MPTV, Inc. -0- 10/12/2000