5th Avenue Channel Corp. Plays Role in a .Com Acquisition and Receives $740,000 of Deal Worth $840,000.

Business Editors

NORTH MIAMI, Fla.--(BUSINESS WIRE)--Nov. 15, 2000

5th Avenue Channel Corp., Inc. (Nasdaq:FAVE) a Florida based television and Internet company and owner of both the Net Financial News(TM) television program and its companion web site, NFN.com, today announced it played a significant role in a .com acquisition and came away with a $200,000 two-year co-marketing agreement, a $250,000 finders fee, and approximately $390,000 in the sale of stock, according to a recent SEC filing.

Though certain details of the agreement remain undisclosed per the terms of the agreement with the buyer and seller, the company received consideration for it's work in introducing two companies in related financial industries to each other and setting the stage for the seller's acquisition. For it's efforts, the 5th Avenue Channel entered into a $200,0000 advertising agreement with the buyer effective through September 30, 2001. $40,000 will be recognized for the period ending September 30, 2000 and $60,000, which was taken as an advance on this transaction as deferred revenue, was reported under current liabilities.

It also received 500,000 restricted shares of the seller in exchange for 195,000 restricted shares of 5th Avenue Channel stock. 5th Avenue Channel agreed to a fair market value of $390,000 for the transaction. Once the seller was subsequently acquired, 5th Avenue Channel was required to sell its shares in the acquired company for an adjusted amount of $389,518, which it did in July 2000. Further, 5th Avenue Channel received a finder's fee of $250,000 for its contributing part in the acquisition. The company reported the details of the transactions in its third quarter 10QSB filing with the SEC.

"We are very pleased with the results of this transaction and the agreements related to it. We will endeavor to pursue other opportunities to provide services in exchange for equity. 5th Avenue has already obtained equity positions in other companies which we hope will be beneficially monetized," Said Mel Rosen, Chairman and CEO of 5th Avenue Channel Corp.

About the 5th Avenue Channel

5th Avenue Channel Corp., through its Net Video Networks subsidiary, is creating and aggregating television and video content available through television and in streaming on-demand form on the Internet. The company owns a financial news program, Net Financial News(TM), and also operates wireless cable systems in Wisconsin and Costa Rica and 5th Avenue Channel Retail, Inc. a business-to-business sales division that sells products to mass market retailers across the country. The company also sells services in exchange for equity in other companies. The company recently launched it's first Spanish Language program in October in Miami, with the debut of Net Financial News Latino(TM), a Spanish Language version of Net Financial News(TM), aimed at the U.S. Hispanic and Latin American markets.

This press release contains statements that are forward looking and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. When used in this press release the words "believes," "plans," "estimates," "expects," "intends," "anticipates", "may", "will", "should", "could" and similar expressions are intended to identify forward-looking statements. All forward-looking statements are based largely on current expectations and beliefs concerning future events that are subject to substantial risks and uncertainties. Actual results may differ materially from the results suggested herein. 5th Avenue Channel's actual results may differ materially from the results discussed, implied or forecasted in the forward-looking statements. Further information on the factors that could affect the actual results of 5th Avenue Channel Corp. are included in its report on Form 10-KSB for the year ended December 31, 1999, and the most recent Form 10QSB for the quarter ended September 30, 2000, which are on file with the Securities and Exchange Commission. 5th Avenue Channel Corp. assumes no obligation to revise or update any forward-looking statements contained in this press release.