InvestorsHub Logo
Followers 19
Posts 683
Boards Moderated 0
Alias Born 12/27/2000

Re: None

Thursday, 11/01/2001 1:20:33 PM

Thursday, November 01, 2001 1:20:33 PM

Post# of 5044
PR>
MPTV's $100M Loan Application Approved by Credit Committee


/FROM PR NEWSWIRE LOS ANGELES 213-626-5500/
TO BUSINESS, REAL ESTATE AND TRAVEL EDITORS:

MPTV's $100M Loan Application Approved by Credit Committee

IRVINE, Calif., Nov. 1 /PRNewswire/ -- MPTV, Inc.
(OTC Bulletin Board: MPTV), an innovator in Timeshare Resort Development,
today announced that significant progress has been made in its application
process for receiving a $100 million construction loan. The lender's Credit
Committee has approved the loan. The approved loan was forwarded to the
credit department for finalization and preparation of a commitment.
MPTV had announced in August of this year that it had received a Term
Sheet for a $100 million construction loan, which is earmarked for building
four new towers on the Company's Lake Trop property.
"After a significant amount of due diligence, our lender's Credit
Committee has shown its confidence in our Lake Trop property and in our
strategy for re-developing it into an asset of tremendous value. We are now
awaiting the final approval and delivery of a loan commitment in a short time
frame," stated Mr. Hurley C. Reed, CEO of MPTV.

About MPTV, Inc.
MPTV develops and markets timeshare resort properties. The Company's
principal asset is a multi-million dollar resort property called Lake
Tropicana. MPTV's current project is the Lake Tropicana Timeshare Resort and
Towers ( www.laketropmptv.com ) located in Las Vegas, Nevada between the
MGM Grand Hotel/Casino and 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.

Shareholder Contacts: Laurel Moody, Vision Consulting,
Email laurel@visioncc.net, Calls: 212-484-5313.

Serena Riedel, Email: serenariedel@aol.com.

This press release contains forward looking statements within the meaning
of the "safe-harbor" provision of the Private Securities Litigation reform Act
of 1995 about the Company's financial condition and business prospects that
involve substantial risks and uncertainties. You can identify these
statements by the fact that they use words such as "anticipate," "estimate,"
"expect," "project," "intend," "plan," "believe" and other words and terms of
similar meaning in connection with any discussion of future operating or
financial performance. Among the factors that could cause actual results to
differ materially are the following: failure to reach definitive agreements
with potential acquisition candidates; failure to find attractive acquisition
candidates; increases in interest rates; a decline in the Las Vegas real
estate market or the timeshare market in general; and general economic
conditions in the United States. A further list and description of these
risks, uncertainties and other matters can be found in the Company's Annual
Report on Form 10-KSB for the fiscal year ended December 31, 2000 and in its
periodic reports on Forms 10-QSB and 8-K (if any). 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.

MAKE YOUR OPINION COUNT - Click Here
http://tbutton.prnewswire.com/prn/11690X52683545

SOURCE MPTV, Inc.

/CONTACT: Laurel Moody of Vision Consulting,
+1-212-484-5313,laurel@visioncc.net; or Serena Riedel, serenariedel@aol.com,
both forMPTV, Inc./

/Web site: http://www.laketropmptv.com /

Nov-01-2001 17:37 GMT
Symbols:
US;MPTV
Source PRN PR NewsWire
Categories:
NWR/CA NWI/TRA NWI/LEI NWI/RLT NWI/OTC MST/R/US/CA MST/B/TVL
MST/I/RCS MST/I/REA MST/I/MKT

Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.