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ITEC ATTRACTIONS' 10 PERCENT CONVERTIBLE DEBENTURE OFFERING DECLARED EFFECTIVE BY SEC

 SALT LAKE CITY, Aug. 9 /PRNewswire/ -- International Tourist Entertainment Corp. ("ITEC Attractions") (NASDAQ: ITEC) announced today that its registration statement registering its 10 percent convertible debenture offering in the aggregate principal amount of up to $3,500,000 has been declared effective by the Securities and Exchange Commission. Each debenture is convertible into common stock of the company at the price of $6.50 per share. The debentures will mature on June 1, 2008, and are secured by a second lien deed of trust on the Branson, Mo., facility.
 Proceeds of the offering will be used to complete the financing for the construction of the Ozarks Discovery IMAX(R) Theater complex in Branson. In addition, proceeds will be used to produce and IMAX(R) format signature film and for the IMAX(R) projection equipment, screen, and sound system to be used in the theater.
 The business of ITEC Attractions is the creation of highly specialized movie entertainment that captures the culture, history, beauty and uniqueness of popular tourist destinations.
 Gene Morgan Financial, Los Angeles, is underwriting the offering on a best efforts basis.
 -0- 8/9/93
 /CONTACT: Bob Cardon, corporate secretary of ITEC Attractions, 800-574-4832; or Gene Morgan, president of Gene Morgan Financial, 800-468-6329/
 (ITEC)


CO: International Tourist Entertainment Corp. ST: Utah, Missouri IN: ENT SU: OFR

LS-BP -- LA017 -- 0782 08/09/93 13:15 EDT
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Publication:PR Newswire
Date:Aug 9, 1993
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