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ATTN AVECA ENTERTAINMENT CORP. ENTERS INTO AGREEMENT

 WASHINGTON, Feb. 1 /PRNewswire/ -- ATTN Aveca Entertainment Corp. (NASDAQ: ATTN.F; Alberta: AAT.CA) ("ATTN Aveca") announces that, subject to regulatory approval, it has entered into an agreement to sell all of the issued and outstanding common shares of its wholly owned subsidiary, Aveca Entertainment Corp. The purchasers, E.C.U. Management Ltd. and Bayerische Investplan Ltd., agreed to pay U.S. $312,000 and cause the forgiveness of approximately U.S. $154,000 of indebtedness owed by ATTN Aveca to Aveca and various third parties for an aggregate purchase price of approximately U.S. $466,000. A non-refundable deposit of U.S. $77,000 has been received by ATTN Aveca with the balance of the purchase price to be paid by Feb. 19, 1993. ATTN Aveca has secured payment of the balance of the purchase price by taking a pledge of 1 million shares of a publicly traded company which shares have a present market value of approximately U.S. $300,000.
 ATTN Aveca also announces that its common shares will be consolidated on the basis of one new share for each three common shares currently outstanding. As part of this transaction, ATTN Aveca's name will be changed to The American Transportation Television Network Inc. These changes are subject to shareholder approval at an Annual and Special Meeting to be held Feb. 26, 1993.
 At the request of the Alberta Stock Exchange, ATTN Aveca confirms that its board of directors is composed of James Rutledge Jr. of Washington, Richard Karasek of Jackson, Mich. and Robert Whitney of Vancouver, B.C.
 ATTN Aveca's common shares are quoted on NASDAQ under the symbol ATTN.F and on The Alberta Stock Exchange under the symbol AAT.CA.
 Neither the Alberta Stock Exchange nor NASDAQ have approved nor disapproved the contents of this press release.
 -0- 2/1/93
 /CONTACT: James Rutledge, 202-296-2080, or Stephen Cohen, 202-783-1860, both of ATTN Aveca/
 (ATTN.F)


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

EH-LS -- LA040 -- 1554 02/01/93 17:16 EST
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Publication:PR Newswire
Date:Feb 1, 1993
Words:341
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