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bahhumbug1

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bahhumbug1

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Thursday, 01/17/2002 3:23:28 PM

Thursday, January 17, 2002 3:23:28 PM

Post# of 5044
MPTV Enters Final Negotiations With H&B Group Limited for $150 M Equity
Investment Facility

IRVINE, Calif., Jan. 17 /PRNewswire-FirstCall/ --
MPTV, Inc. (OTC Bulletin Board: MPTT), an innovator in Timeshare Resort
Development, today announced that it is in final negotiations with H&B Group
Limited, a major European institutional investor, for a $150,000,000 equity
investment facility. MPTV's wholly-owned Lake Trop LLC subsidiary will apply
the equity investment facility to numerous ventures to expand the scope and
depth of its timeshare business.
The $150,000,000 investment would be used for completion of the Lake Trop
timeshare resort, working capital, acquisitions, and other planned timeshare
developments. This funding would compliment and support Lake Trop's
$13,440,000 Phase I construction loan previously announced by MPTV.
"We have been in talks with H&B Group Limited for more than a year. We
are finalizing the specific terms of our investment agreement, and have
entered our final stage of negotiations. We have come to know and respect H&B
Group Limited for their expertise in investing in real estate and the
timeshare market. The due diligence process has been completed and we are
moving forward," stated Mr. Hurley Reed, CEO of MPTV.
"We are pleased about the prospect of becoming MPTV's investment partner
in the Timeshare development business. Having been involved with several
timeshare properties worldwide, we are very upbeat at both the added dimension
that Hurley Reed's Timeshare management expertise brings us, and at entering
the Las Vegas timeshare market," added a Managing Partner at H&B Group
Limited.
H&B's U.S. Representative, Mr. Ralph M. Thomas II commented, "It has been
my pleasure to bring this deal together. Representing H&B here in the U.S.
market, I have had the opportunity to work closely with MPTV and Hurley Reed.
I believe the Lake Trop development is a great opportunity and H&B is excited
to participate."

About H&B Group Limited
H&B Group Limited is a London, England-based institution that has a
35-year history in various large mergers and acquisitions, real estate
development projects, and three-way international trade projects throughout
the world. The Company has completed projects in many countries and has
offices in the British Virgin Islands, Albuquerque, New Mexico, and Dallas,
Texas.

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 a definitive agreement
with the party referenced herein; 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/11690X34715325

SOURCE MPTV, Inc.

/CONTACT: 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-17-2002 20:16 GMT
Symbols:
US;MPTT
Source PRN PR NewsWire
Categories:
NWR/CA NWR/NV NWI/FIN NWI/RLT NWI/LEI NWI/TRA NWI/OTC NWS/FNC
MST/R/GB MST/R/US/CA MST/R/US/NV MST/I/BNK MST/I/REA MST/I/RCS MST/B/TVL
MST/I/MKT MST/S/FNC

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