Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Microcap & Penny Stocks : Tokyo Joe's Cafe / Anything goes -- Ignore unavailable to you. Want to Upgrade?

To: Logistics who wrote (14306)	5/5/1998 9:03:00 AM
From: Emec	Respond to of 34592

Tuesday May 5, 8:10 am Eastern Time Company Press Release MegaWorld Acquires a European Castle as the First Development of a New Time Share Operation NEW YORK--(BUSINESS WIRE)--May 5, 1998--MegaWorld, Inc. (MEGW) today announced it has acquired Castello Ratti Enterprises Srl, which holds a controlling interest in a 1,000-year-old Castle near Milan, Italy, for the purpose of commencing the operation of a new time-share facility. The Castle is the first of a number of new unique time-share locations to be operated internationally by MegaWorld, Inc. Located in a picturesque area between Milan and Genoa, (less than two hour's drive of Monte Carlo, and one hour's drive from the Swiss border) the Castle will ultimately include up to 100 resort timeshare units, many in surrounding villas, to be sold on a weekly basis at a sales price starting from $17,000 per unit. The grounds of the Castle will house facilities including a restaurant, conference centre, tennis, archery, swimming, horse back riding, a future Health Club, and a planned 18-hole golf course. The whole complex has been independently valued at US $11.9 Million. In announcing the commencement of a time-share subsidiary, Mr. Irwin C. Roll, President of MegaWorld, Inc., said, ''We believe that with the increase of leisure time activity the future for the time share industry is indeed very bright. We expect to be a major factor in that industry''. MegaWorld, Inc. is an Electronic Bulletin Board Company listed under the symbol MEGW. Note: Forward looking statements in this release are made pursuant to the ''safe harbor'' provisions of Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward looking statements invite risks and uncertainties, including without limitation, continued acceptance of the Company's products, increased levels of competition for the Company, and other risks. -------------------------------------------------------------------------------- Contact: MegaWorld, Inc., New York 212/750-3333 -------------------------------------------------------------------------------- More Quotes and News: MEGAWORLD INC (OTC BB:MEGW - news) Related News Categories: computers, internet, publishing