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To: Chris O'Keefe who wrote (22208)	5/28/1998 8:54:00 PM
From: Bill Pearson	Respond to of 34592

NVXE isn't working for NASA, or vise versa..... Last year, NVXE signed a deal to produce programing, primarily in 2D (but perhaps some in 3D as well), using footage supplied by NASA. Since NVXE hasn't had the funding to move forward on this project very little progress has been made in the actual production of content. NASA/NVXE....last year's news...... BTW - I also spoke with Ray today, and of course he could not and would not say what the pending news was about, but he did say that the news will be out as soon as the legal documents associated with the pending news is approved by all attorney's involved, and not before. He still feels that can happen tomorrow. Bill NEW VISUAL ENTERTAINMENT SIGNS AGREEMENT TO CO-PRODUCE REALITY-BASED TV PROGRAMMING San Diego - New Visual Entertainment (NVXE-OTC:BBS) is pleased to announce it has completed an agreement with Reel Images, LLC to co-produce two reality-based TV specials centered around the physical evidence of extra-terrestrial existence and NASA's film and video archives. Additionally, New Visual, Reel Images and its broadcast company, Seven Star Entertainment, plan to work together to create from the NASA archives an NVX 3D product for special venue distribution. The Company reports that it will co-produce and share in the revenue generated from distribution of 26 episodes of programming that will be sold to foreign and domestic markets. The first two episodes, which have already received a tremendous amount of interest overseas, have booked pre-sales and are projected to gross just over $4 million per episode over the next 18 months. The three-way agreement stipulates that New Visual will maintain a 40% revenue share for each of the episodes and the Company anticipates receipt of revenues from foreign pre-sales by year end 1997. Former CBS producer, and now executive producer and president at Seven Star Entertainment, Chris Wyatt, will lead the "flat", 2D production effort. Wyatt previously produced the highly successful programs "Day and Date" and "UFO's Above and Beyond" while at CBS. Seven Star Entertainment has been granted open access to NASA film and video archives, a distinction held by no one in the world prior. This access to the vault revealed much highly classified footage never before seen by the public. The majority of the creative process will be performed at the Seven Star and Reel Images facilities in Encino, California, which includes advanced state-of-the-art digital editing and a complete audio composition studio. The alliance between New Visual, Seven Star, and Reel Images makes the process of producing the program virtually painless, as nearly all phases will be done in house. In a measure that illustrates the confidence that Reel Image, LLC has in the future of New Visual, it has acquired a significant amount of New Visual's stock, from the nvxe pool of shares outstanding. "We consider ourselves very fortunate to be a part of such an enormous project as this one" New Visual CEO Ray Willenberg, Jr. enthusiastically states. "I think this is one of those instances where being in the right place at the right time really makes the difference. When we began working with Barry L. Brewer, Reel Images' founder and CFO, we knew it was an intelligent move in order to help us accomplish our goals in our business plan, but we had no idea it would lead to this," he adds. "We expect this project to significantly and immediately change our position in the industry, while at the same time, potentially create an avenue for diversification" he concludes. New Visual Entertainment, Inc. is a true stereo 3D production company that specializes in 3D product development and distribution for home video, broadcast, and theatrical markets by utilizing proprietary technology for the creation and exhibition of 3-dimensional media. Reel Images is a production and distribution house positioned to create high quality Television and Film productions, TV Commercials, TV series, high-end motion picture 3D animation and visual effects.