Paradise's Rave Music Scores Again With Pokemon Franchise.

Business & Entertainment Editors

NEW YORK--(BUSINESS WIRE)--Aug. 2, 2000

Music Group Releases Climbing the Charts;

Label M Debuts With Four 9/26 Releases

Paradise Music & Entertainment (NASDAQ:PDSE; www.pdse.com), a digital entertainment content and services provider, announced today that Rave Music (PDSE Music Group), in partnership with 4 Kids Entertainment (NASDAQ:KIDE) and Nintendo of America, is once again creating original new music for an assortment of Pokemon-related entertainment properties. In related divisional news, PDSE Music Group is achieving noteworthy success with several recent releases on its Kinetic and Mesa/Bluemoon labels, while Label M debuts on September 26th with its first four titles.

New Pokemon projects include the following:

- Pokemon 2000 - The Power of One - Rave (CEO John Loeffler, Ralph Schuckett,
John Lissaur and Manny Corello) composed the score for the second Pokemon
feature film (distributed by Warner Bros.), which premiered July 21st in
theaters across the US. The movie soundtrack (Atlantic Records) features six
cuts penned by Loeffler, and fellow composers John Siegler and John Peterson,
including songs performed by the B-52's and Donna Summer. Rave also scored the
first Pokemon film, Pokemon The First Movie: Mewtwo Strikes Back. The album
from that successful 1999 film soundscanned over two million copies worldwide
to date.

- Pokemon Live - Rave just completed the composition of the music for the
upcoming live theater production produced by Radio City Entertainment, 4 Kids
Entertainment and Nintendo of America. The show opens in New York on September
21, 2000, and will run for two weeks before embarking on a six-month North
American tour. Radio City is presently in negotiations with stage companies in
South America and Europe to produce the show in those regions.

- Pokemon - the number-one rated kids' television series on The WB -

Rave is actively completing pre-production work on the television

soundtrack album (Koch Records), which will contain songs to be

featured in season three of the popular Pokemon TV series. The

album will include performances by a new, yet unnamed vocal group,

hand-selected especially by Rave that will tour in support of the

album in late fall and into 2001. The new album follows the highly

successful 2.B.A. Master soundtrack, co-written and produced by a

talented team of Rave artists. The recording is projected to sell

over two million copies worldwide.

Rave CEO John Loeffler, commented, "As the popularity of Pokemon-related entertainment vehicles continues both here and abroad, Rave is pleased to be considered as the composers of choice for new projects."

Nintendo of America Inc. (NOA) controls the Pokemon franchise for the world outside of Asia. NOA acquired the rights from the original Japanese creators in February 1998. 4 Kids Entertainment is Nintendo's exclusive licensing agent for the Pokemon property.

The Kinetic/PDSE Records joint venture has locked up the top two spots on the College Music Journal (CMJ) "RPM" Chart, with Sasha and John Digweed currently at No. 1, and Sandra Collins's Transport 3 at No. 2. PDSE Music Group's Mesa/Bluemoon label has the No. 1 slot on the CMJ "New World" chart, with King Sunny Ade's Seven Degrees North.

September 26th is a big day for PDSE Music Group's newly formed Label M. The first wave of a planned 16 new releases in 2000 is scheduled, with four titles on tap: Ray Bryant's Somewhere in France; Stan Getz's My Foolish Heart; Sonny Stitt's Just The Way It Is; and, Morgana King's The Complete Reprise Years."

Paradise Music & Entertainment, Inc. is an entertainment company comprised of three complementary units: PDSE Film and TV Group (Straw Dogs, Picture Vision and Shelter Films - television commercial, music video, live event and film and video productions); PDSE Music Group (PDSE Records Inc., All Access Entertainment and Rave Music - record labels, producer of original music for film and television and full-service music artist management); and PDSE Digital Group (Paradise Digital Productions - Internet content development, Vapour - Editing and digital services and Matter - design services). Paradise also has a production and strategic investment relationship with Eruptor Entertainment, Inc., producer of http://www.eruptor.com, a cutting-edge entertainment and leisure Internet destination site targeting "Generation Y" males.

Legal Disclaimers: This Press Release may contain forward-looking statements with the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results of operations may differ materially from those projected or suggested in the forward-looking statements. The forward-looking statements contained herein represent the Company's judgment as of the date of this report hereof, and the Company cautions readers not to place undue reliance on such statements.