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ATTN AVECA ENTERTAINMENT CORP. ('ATTN AVECA') ANNOUNCES PRIVATE PLACEMENT

 WASHINGTON, March 3 /PRNewswire/ -- Subject to regulatory approval, ATTN Aveca (NASDAQ: ATTN.F; Alberta: AAT.C) announced a private placement of 4,400,000 common shares at a price of $0.25 CDN per share, for a total consideration of $1,100,000 with 4,400,000 warrants attached exercisable at $0.30 CDN per share on or before March 31, 1995. This private placement was notified to applicable regulatory authorities on Feb. 11, 1993 and is anticipated to close on or before March 31, 1993. A significant portion of the private placement will be taken down by directors and officers of ATTN Aveca.
 ATTN Aveca also announced that its name change to American Transportation Television Network Inc. (effective March 3, 1993) and the consolidation of its common shares on the basis of one new share for each three old shares presently outstanding was approved at the Annual and Special Meeting of Shareholders held Feb. 26, 1993. The effective date of the consolidation will be announced in due course.
 ATTN Aveca also announces that the sale of Aveca Entertainment Corp. earlier announced has not closed. It is the view of ATTN Aveca's board of directors that the purchaser's failure to close is a default under the applicable agreement and legal action will be taken against the purchasers.
 Neither the Alberta Stock Exchange nor NASDAQ have approved nor disapproved the contents of this press release.
 -0- 3/3/93
 /CONTACT: Stephen Cohen, 202-783-1860, or Robert Whitney, 604-682-7335, both of ATTN Aveca/
 (ATTN.F)


CO: ATTN Aveca Entertainment Corp. ST: District of Columbia IN: ENT SU:

LS-BP -- LA029 -- 2572 03/03/93 15:19 EST
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Publication:PR Newswire
Date:Mar 3, 1993
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