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sentsyst

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sentsyst

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Re: None

Wednesday, 01/09/2002 11:54:31 AM

Wednesday, January 09, 2002 11:54:31 AM

Post# of 5044
MPTV Accepts Final Loan Commitment for $13.44 M for Phase I of Lake Trop


/FROM PR NEWSWIRE LOS ANGELES 213-626-5500/
TO BUSINESS EDITOR:

MPTV Accepts Final Loan Commitment for $13.44 M for Phase I of Lake Trop

IRVINE, Calif., Jan. 9 /PRNewswire/ -- MPTV, Inc.
(OTC Bulletin Board: MPTV), an innovator in Timeshare Resort Development,
today announced that it has reviewed and accepted the terms of the
Loan Commitment in the amount of $13.44 million from International Commercial
Finance (ICF), a leading real estate construction lender. Mr. Hurley Reed,
MPTV's CEO, signed the Loan Commitment and returned the accepted documents to
ICF.
The loan will be used for the construction of Phase I of MPTV's Lake Trop
property in Las Vegas. Phase I construction will convert the current
Lake Trop property into a world-class timeshare resort.
"The terms of this Loan Commitment are fair and acceptable. I have signed
the commitment and am looking forward to funding and beginning the
construction phase," Mr. Hurley Reed stated.
Mr. Howard Seidman of Bolton Capital added, "I've helped to arrange MPTV's
financing with ICF because they are a good fit with each other. ICF has
delivered a Loan Commitment with favorable terms to MPTV and I'm delighted
that MPTV is moving forward on this opportunity. We anticipate a quick
closing pending the standard delivery of necessary closing documents and
stipulations."
Mr. Eli Shalom, CEO of International Commercial Finance stated, "We are
pleased with MPTV's acceptance of our offer. ICF is excited to be involved in
this high-profile timeshare development in the fast-growing Las Vegas market.
Our negotiations and business with MPTV have progressed very smoothly and we
anticipate announcing a closing date shortly and funding as quickly as
possible."

About International Commercial Finance
International Commercial Finance is a Southfield, Michigan-based private
lender that focuses on lending for land acquisitions and development, along
with an array of innovative programs for all kinds of commercial lending
transactions. ICF's programs include its 100% construction financing
capabilities. Currently ICF is negotiating deals in three countries and
domestic transactions from California to Florida.

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: 212-446-6109.

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; failure to meet conditions of the loan; 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/11690X62824240

SOURCE MPTV, Inc.

/CONTACT: Shareholders, Laurel Moody of Vision Consulting,+1-212-446-6109,
laurel@visioncc.net; or Serena Riedel, serenariedel@aol.com,both for MPTV, Inc./

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

Jan-09-2002 16:44 GMT
Symbols:
US;MPTV
Source PRN PR NewsWire
Categories:
NWR/CA NWR/NV NWR/MI NWI/LEI NWI/TRA NWI/RLT NWI/FIN NWI/OTC
MST/R/US/CA MST/R/US/NV MST/R/US/MI MST/I/RCS MST/B/TVL MST/I/REA MST/I/BNK
MST/I/MKT


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