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FUTURE COMMUNICATIONS COMPLETES $12.5 MILLION PRIVATE PLACEMENT, ACQUISITION OF 700 FILM ROHAUER COLLECTION, 26 TITLES FROM CINETEL FILMS

 DALLAS, Aug. 17 /PRNewswire/ -- Future Communications Inc. (NASDAQ-NMS: FCMI) (FCMI) announced today it has completed a $12.5 million private placement. FCMI further announced that it has used these funds to acquire the 700 film Rohauer Collection featuring all of Buster Keaton's films and 26 titles from Cinetel Films Inc.
 The library assets include all of Keaton's films as well as films made by Charlie Chaplin, W.C. Fields, Douglas Fairbanks Jr., D.W. Griffith, Rudolph Valentino, Laurence Olivier, Vivien Leigh, Charles Laughton, Lawrence Harvey, Michael Caine, Richard Attenborough, Ava Garder, Joan Crawford, Henry Fonda and James Stewart, with short subjects and documentaries featuring Jack Benny, Bing Crosby, Duke Ellington and Ethel Merman.
 The Rohauer Collection was assembled by the late Raymond Rohauer, the former curator of the Gallery of Modern Art in New York. The collection consists of approximately 700 rare classic films and short subjects, including copyrights and/or distribution rights, which were made over a 70-year period starting in the 1920s. A good portion of the films are dubbed in as many as five different languages and were produced in both the United States and Europe. Out of the 700 films, 134 are from Britain, 466 are from the United States, with the remaining films from Spain, Italy, France, Scandonavia and Germany made by such distinguished directors as Luis Bunuel and Jean Costeau.
 Product from Cinetel Films Inc. consists of 26 feature titles produced since 1986 with such contemporary stars as Rutger Hauer, Sharon Stone, Natasha Richardson, Judd Nelson, Gary Busey, Jan-Michael Vincent, Sean Astin, Lara Flynn Boyle, Robert Downey Jr., Eric Idle, Ralph Macchio, Tanya Roberts, Corey Haim, C. Thomas Howell and Tommy Chong.
 Cinetel Films Inc. remains as a leading independent producer and distributor of feature films with eight new titles slated for production during 1993.
 Sergio Bosco, Future Communications chief executive officer stated: "Completion of the acquisition of these important films is a significant move by FCMI to meet its commitment to growth and expansion. The addition of these films represents another major step in FCMI's becoming the alternative programmer of choice for its MSTV Network of over 110 television station affiliates, making it the fifth largest network, and is perhaps the most important addition of assets to FCMI."
 Bosco went on to say: "The libraries have been independently valued at figures substantially in excess of the acquisition cost and should significantly increase third party cash receipts to FCMI, in addition to enhancing the programming quality of the MSTV Network, thereby making it more attractive to the potential audience and advertisers. This acquisition comes at a particularly opportune time, as FCMI's TV affiliates have applied for cable access under the `must carry' provisions of the recent Cable Act."
 Future Communications Inc. is engaged in the development, implementation, marketing and sales of innovative, nostalgic programming; the operation of the MSTV Network; the development, acquisition and sale of SMATV cable systems; and specialized telecommunications consulting services.
 -0- 8/17/93
 /CONTACT: David W. Gorman, executive VP of Future Communications, 214-243-2268/
 (FCMI)


CO: Future Communications Inc. ST: California IN: ENT TLS SU: TNM

EH -- LA017 -- 3442 08/17/93 09:44 EDT
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Publication:PR Newswire
Date:Aug 17, 1993
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