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GRAFF PAY-PER-VIEW COMPLETES $4 MILLION PRIVATE PLACEMENT FOR EUROPEAN ACQUISITION AND TO QUALIFY FOR NASDAQ LISTING

 NEW YORK, Feb. 1 /PRNewswire/ -- J. Roger Faherty, chairman of Graff Pay-Per-View Inc. (OTC Bulletin Board: GPPV), today announced that the company completed a $4 million private placement to mainly institutional holders. Two million dollars of the funds raised plus Graff shares will be used as payment for HVC, a profitable United Kingdom-based pay television programming company, and the remainder for general corporate purposes. Graff has acquired a 25 percent stake in HVC with an option to acquire the remainder of the equity over the next 20 months.
 Additionally, the offering will result in Graff meeting the financial requirements to qualify for NASDAQ status.
 Graff, one of the nation's largest participants in the emerging pay- per-view industry, owns and operates two satellite-delivered, 24-hour-a- day television networks featuring films and entertainment programs. Programming on the networks is sold on a pay-per-view basis through cable television systems to 7.5 million subscribers across the United States including Alaska and Hawaii. Graff's programming is also available in hotels through its "Guest Cinema" service, as well as to consumers with home satellite dish antennas. Additionally, Graff recently became the first programmer in the pay-per-view industry to offer U.S. cable operators eight channels of "continuous hits" programming delivered via satellite under the "TheatreVisioN" brand name. Founded in 1987, Graff has concentrated exclusively on the development of its pay-per-view business and has grown to become a leader in this industry.
 -0- 2/1/93
 /CONTACT: J. Roger Faherty, chairman of Graff, 212-941-1434; or Edward Silverman or Cynthia A. Bond of Silverman, Heller & Bond, 212-682-9222, for Graff/
 (GPPV)


CO: Graff Pay-Per-View Inc. ST: New York IN: ENT SU: FNC

GK-SH -- NY018 -- 1216 02/01/93 09:39 EST
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Publication:PR Newswire
Date:Feb 1, 1993
Words:282
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