1st Miracle Group, Inc. Announces Update On Corporate Activities.

NEW YORK--(BUSINESS WIRE)--April 26, 1999--

1st Miracle Group, Inc. (OTC BB: MVEE) announced today an update on recent corporate activities.

Stated Tony Cataldo, CEO, "Since coming on board earlier this month, we have taken a number of important steps towards the growth and development of First Miracle, all of which we believe will prove beneficial in bringing the Company to the next level. In particular, during this period we have enacted an overall corporate restructuring program which to-date has included solidifying our long-term relationship with Menahem Golan, a 35-year film industry veteran, one time Oscar winner and four time Oscar nominee. We have also added to our Board John Salley, three time NBA champion and founder of UJAMMA Entertainment, a move which we believe provides the Company with a number of new business opportunities. Presently, we are also looking to secure space in the Los Angeles area for our new corporate headquarters which we anticipate opening towards the end of May.

"We are also pleased to announce that our film 'Speedway Junky' continues to receive praise at various International film festivals, including Berlin and the recently completed LA Independent Film Festival. As a result, we have recently reached an agreement with Cutting Edge to distribute the film internationally, and will look to solidify sales in the various foreign markets following our showing at Cannes next month. Domestically, we are in ongoing discussions with a number of potential distributors, and will continue to shop the film on the festival circuit until we reached an agreement which best reflects the film's potential.

"In addition, production of 'Escape to Grizzly Mountain' continues on schedule, and following some minor delays we expect to conclude final editing on 'Delta Force' shortly. We are also in the process of finalizing several additional film projects which we will look to announce as agreements are reached, and will be showcasing our Andrew Dice Clay comedy special, 'Roll the Dice', along with 'Speedway Junky' and one other film during next month's Cannes Film Festival in an effort to secure foreign sales for these projects.

"Finally, following the conclusion of our fiscal year end on April 30th, we will be filing a complete financial statement with the SEC, a step which is a necessity as we look to eventually change our bulletin board status. Over the next several months, we will continue to analyze our present position in the marketplace and how best to meet the goals and objectives of our management team and shareholder base."

First Miracle is an independent film production company focused on the development of full length features in a number of popular genres, including comedy, action and drama.