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sentsyst

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sentsyst

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Re: None

Thursday, 03/29/2001 2:45:17 PM

Thursday, March 29, 2001 2:45:17 PM

Post# of 5044
Dispute With Nutri


Pharmaceutical Inc.; Agreement Ends Lien
Placed On MPTV's Lake Tropicana Property

Business Editors

LAKE ELSINORE, Calif.--(BUSINESS WIRE)--March 29, 2001--Nova
Pharmaceutical Inc. (OTCBB:NOVX) announced today that it has
successfully and amicably resolved any and all outstanding contract
issues with one of its raw material suppliers, Nutri Pharmaceuticals
Inc.
Due to the resolution of the contract dispute, Nutri
Pharmaceuticals has, in writing, relinquished any and all claims
against Nova Pharmaceutical. In conjunction with this transaction,
Nutri Pharmaceuticals has completely released the real estate property
pledged by Nova and owned by MPTV Inc. (OTCBB:MPTV).
The property is the site of a planned timeshare resort called the
Lake Tropicana Resort in Las Vegas owned by a subsidiary of MPTV.
Nutri Pharmaceuticals had previously placed a lien on the property
that was pledged by Nova as a routine part of guaranteeing payments.

About Nova Pharmaceutical

Nova Pharmaceutical is a publicly traded company on the OTC
Bulletin Board. The company's patented weight loss product, NxTrim,
achieved first year sales of $2 million. Nova has begun the production
of a long-form direct response infomercial for its new three-part
weight management formula, NxTrim System 3.

Certain statements in this release are "forward-looking"
statements as such term is defined in the Private Securities
Litigation Reform Act of 1995. Because such statements are subject to
risks and uncertainties, actual results may differ materially from
those expressed or implied by such forward-looking statements.

--30--KA/np* NK/np

CONTACT: Nova Pharmaceuticals Inc., Lake Elsinore
Ralph Mann, 888/495-NOVA (888/495-6682)
ralph@novanx.com

KEYWORD: CALIFORNIA NEVADA
INDUSTRY KEYWORD: ALTERNATIVE MEDICINE CONSUMER/HOUSEHOLD
PHARMACEUTICAL
Today's News On The Net - Business Wire's full file on the Internet
with Hyperlinks to your home page.
URL: http://www.businesswire.com





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