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Tuesday, 02/13/2001 10:03:07 AM

Tuesday, February 13, 2001 10:03:07 AM

Post# of 5044
PRESS RELEASE FOR DISTRIBUTION

MPTV COMMENTS ON LOAN CLOSING TIME TABLE

Irvine, California, February 13, 2001 /PRNewswire/--MPTV, Inc. (OTC BB: MPTV), a Nevada corporation, along with Remington Financial Group, Inc. of Scottsdale, AZ are in the final stages of the loan underwriting process but have extended the timetable.

Hurley C. Reed, CEO of MPTV, Inc. explains, "Remington remains steadfast in its funding commitments to us but we all may have been overly optimistic in expecting to complete the legal documentation in the anticipated time frame. Remington continues to offer us the most expeditious and cost effective financing by packaging the multi-phase loan."

James M. De Masi of Remington Financial Group, Inc. stated, "Our commitment to fund the Phase 1 construction of the Lake Tropicana Timeshare Project still stands. We have encountered a few unanticipated technical legal issues that force time delays due to scheduling."

In its ongoing effort to keep shareholders informed, MPTV's CEO stresses that the information contained in this press release is accurate as of its release date but will not be continuously updated until future events/developments precipitate the next official press release.

Remington Financial Group assists clients in obtaining debt and equity financing from a variety of sources including: commercial banks; conduit programs; insurance companies; institutional lenders; private mortgage investors; and, private lending investors. In the process, Remington provides the following services: originating the loan process; evaluating loan options; structuring the transaction; preparing and underwriting loan request package; assistance with negotiations; and, coordination of placement and closing process.

MPTV, Inc.'s current project is the proposed Lake Tropicana Timeshare Resort and Towers located in Las Vegas, Nevada between the MGM Grand Hotel/Casino, the Aladdin Hotel/Casino on the "Strip" and the Hard Rock Café 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.

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.

SOURCE: MPTV, Inc. Website: www.laketropmptv.com

CONTACT: Serena Riedel, RealSense.com Investor Relations
Email: MPTV@realsense.com Shareholder Calls: (603) 685-6000 or (603) 890-1373


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