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To: Bram12345 who wrote (917)	11/6/1998 8:29:00 AM
From: Due Diligence	Read Replies (1) \| Respond to of 1058

(BSNS WIRE) Magic Entertainment Provides Update On Activities At Milan F Magic Entertainment Provides Update On Activities At Milan Film Festival News/Entertainment Editors MILAN, Italy--(BUSINESS WIRE)--Nov. 6, 1998-- Announces Pre-production of New Action-Drama/Martial Arts Film Menahem Golan and Yoram Globus, co-chairmen of Magic Entertainment, a wholly-owned subsidiary of 1st Miracle Group (OTC: MVEE), today announced the pre-production of a new style of action-drama/martial arts film, entitled KUMETE. Start of principal photography is anticipated to begin in the first quarter of 1999, subject to financing. Golan-Globus, who are known for creating such action franchise as "Ninja", starring Michael Dudikof, "Bloodsport" and "Cyborg", starring Jean Claude Van Damme, "Missing in Action" starring Chuck Norris, are now embarking on what they consider to be the new genre of combat and action films. KUMETE is considered to be the Olympics for the martial arts arena. "It is a new kind of Bloodsport," says Menahem Golan, "in which I discovered Van Damme." A search for the star is now in progress, both in Tokyo and in Los Angeles, where the film will be shot. The estimated budget for the film is $10 million and is anticipated to be available at the 1999 Cannes Film Festival in May. The Golan-Globus production team is also in the midst of shooting a classic love story, "The Letter", produced by Paulo Branco, directed by the acclaimed Portuguese director Manoel de Oliveria, and starring Chiara Mastroianni. The film is also expected to be ready for the 1999 Cannes Film Festival. The Company further noted that the reaction to its films SPEEDWAY JUNKY and DELTA FORCE ONE - THE LOST PATROL has been excellent. As previously noted, the Hollywood Reporter, one of the film industry's most prominent publications, placed "Speedway Junky" on its "A" list of films at the Milan Film Festival. Magic Entertainment, a wholly-owned subsidiary of 1st Miracle Group, Inc., was co-founded by Menahem Golan and Yoram Globus to produce and distribute feature length motion pictures. --30--bl/ny* bk CONTACT: 1st Miracle Group, San Mateo, Calif. Peter Benz, Chairman, 650/340-1074 or Rubenstein Investor Relations, New York Jeffrey Volk, 212/843-8086 KEYWORD: CALIFORNIA INDUSTRY KEYWORD: ENTERTAINMENT Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. URL: businesswire.com * end of story *