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Wednesday, 03/06/2002 3:03:38 PM

Wednesday, March 06, 2002 3:03:38 PM

Post# of 5044
MPTV and ICF Update on $13.44 M Construction Loan


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

MPTV and ICF Update on $13.44 M Construction Loan

IRVINE, Calif., and SOUTHFIELD, Mich., March 6 /PRNewswire-FirstCall/ --
International Commercial Finance (ICF) and MPTV, Inc.
(OTC Bulletin Board: MPTT), an innovator in Timeshare Resort Development,
today jointly announced that they have made significant progress towards
closing the previously announced $13.44 M construction loan.
Mr. Eli Shalom, CEO of ICF, stated, "We have received all necessary
documents from MPTV in order to close this loan. Our own internal processes
at ICF have delayed the final closing and we regret if this has caused MPTV or
its shareholders any concern. We are currently structuring the loan to enable
ICF and its affiliates to be in position to carry the development stage past
the first phase, as already committed and to participate in the funding of
phases 2 and 3 as timeshare sales progress. We are very excited about the
strength of this financing and we are committed to closing it. We plan to
close this loan as quickly as possible. Mr. Hurley Reed is in Las Vegas today
working with ICF's affiliates. Our project team and Mr. Reed are developing
the financing traches for the construction phases of the Lake Trop Project."
The loan will be used for construction of MPTV's Lake Trop property in Las
Vegas. MPTV has already been granted building permits for Phase I, which
includes the conversion and remodeling of Lake Trop into a world-class
timeshare resort.

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 agree upon terms and conditions of
the loan tranches; 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/11690X92881237

SOURCE MPTV, Inc.; International Commercial Finance

/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 /

Mar-06-2002 20:00 GMT
Symbols:
US;MPTT
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