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bahhumbug1

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bahhumbug1

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Re: None

Wednesday, 04/03/2002 1:41:13 PM

Wednesday, April 03, 2002 1:41:13 PM

Post# of 5044
PR NEWSWIRE) MPTV Moves Forward on $13.44 M Construction Loan With PacEquiti
MPTV Moves Forward on $13.44 M Construction Loan With PacEquities.com

IRVINE, Calif., April 3 /PRNewswire-FirstCall/ -- MPTV, Inc.
(OTC Bulletin Board: MPTT), an innovator in Timeshare Resort Development,
today announced that it is working closely with PacEquities.com to step in and
close a $14,050,000 construction loan that replaces the previously announced
$13,440,000 loan which was in escrow for closing.
PacEquities.com is a real estate lender with a solid track record in
closing multi-million dollar loans. The Company has closed loans on
commercial properties in cities across the U.S. including Las Vegas.
Mr. Michael Rich, President of PacEquities.com stated, "Having done our
analysis on the property, we are ready to move forward with MPTV to get them
the construction loan that they should have received more than a month ago.
Our development team has been out to Lake Trop twice in the past two weeks and
I have recently visited the site with Hurley Reed. The fact that MPTV has
already established escrow and completed all of their required documentation
will speed up our process. We are not only committed to lending $14,050,000
for Phase I, we are also now completing our analysis for funding for Phases II
and III."
"We are pleased to be working with PacEquities.com at this time. Although
completing this loan has been a slower and more arduous process than we had
anticipated, we now have the benefit of working directly with a lender that
has closed numerous multi-million dollar loans in the past year and has proven
that they know how to get a closing done efficiently. We have also received
the benefit of a larger loan amount and better terms," commented Mr. Hurley
Reed, CEO of MPTV.
Mr. Reed added, "We would also like to ask any of our shareholders who may
have questions to visit the PacEquities.com web site. In an effort not to
delay the closing process, shareholders are asked to direct any other
PacEquities related inquiries to our investor relations firm."
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.

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.

For further information, please contact, shareholders, Laurel Moody of
Vision Consulting, (212)446-6109, laurel@visioncc.net, or Serena Riedel,
serenariedel@aol.com, both for MPTV, Inc.

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, 2001 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.

Tell Us What You Think -- Click Here
http://tbutton.prnewswire.com/prn/11690X86694495

SOURCE MPTV, Inc.
-0- 04/03/2002
/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 /
(MPTT)

CO: MPTV, Inc.; PacEquities.com
ST: California, Nevada
IN: FIN OTC RLT
SU:
*** end of story ***




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