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CONVOY CAPITAL CORP. ANNOUNCES EXEMPT TAKEOVER TRANSACTION

 CONVOY CAPITAL CORP. ANNOUNCES EXEMPT TAKEOVER TRANSACTION
 VANCOUVER, British Columbia, Aug. 21 /PRNewswire/ -- Convoy Capital Corp. (the "company") is pleased to announce that effective August 20, 1992 the company has completed a transaction by way of an exempt takeover to acquire 775,000 shares of Madison Avenue Sports Network Ltd. traded OTC Toronto under the symbol MASN.
 The company has issued from treasury 3,875,000 shares in exchange for 775,000 shares of Madison Avenue which represents approximately 30 percent of the issued and outstanding shares of Madison Avenue.
 The company has previously announced the formation of a joint venture company with Madison Avenue to market product under a licensing agreement for the 1994 World Cup in Europe and in Canada.
 -0- 8/21/92
 /CONTACT: William B. Sharp, president of Convoy Capital, 604-224-4323/ CO: Convoy Capital Corp.; Madison Avenue Sports Network Ltd. ST: British Columbia IN: SU:


KJ -- LA018 -- 2209 08/21/92 14:40 EDT
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Publication:PR Newswire
Date:Aug 21, 1992
Words:158
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