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INTERNATIONAL FAMILY ENTERTAINMENT COMMENCES DISCUSSIONS WITH SPECIAL COMMITTEE OF NOSTALGIA CONCERNING $3/SHARE IN CASH ACQUISITION PROPOSAL

 VIRGINIA BEACH, Va., Dec. 6 /PRNewswire/ -- International Family Entertainment Inc. ("IFE") (NYSE: FAM) today said that it has commenced discussions with the Special Committee of the Board of Directors of The Nostalgia Network ("Nostalgia") (NASDAQ: NNETC) regarding the terms and conditions upon which IFE would be willing to acquire Nostalgia for $3 in cash per common share and $300 in cash for each preferred share of Nostalgia stock.
 Louis A. Isakoff., IFE Senior Vice President and General Counsel said, "We intend to proceed with negotiations with the Special Committee and related due diligence as promptly as possible. We assume that the committee will give special consideration to bids such as ours which are for 100 percent of Nostalgia and which do not leave minority shareholders standing out in the cold. We remain confident that the synergies between IFE and Nostalgia make this acquisition in the best interests of both companies' shareholders."
 On October 8, 1993, IFE announced the proposed acquisition of Nostalgia in a transaction in which each outstanding share of Nostalgia common stock would receive $1.50 in cash and $.50 in value of IFE common stock. In addition, each outstanding share of Nostalgia preferred stock would receive $150 in cash and $50 in market value of IFE common stock.
 IFE commenced a tender offer on November 24 at $2 in cash for each Nostalgia common share and $200 for each outstanding share of Nostalgia preferred stock. At that time IFE said its offer would expire on December 22, 1993, if not extended.
 International Family Entertainment Inc. owns and operates The Family Channel, one of the nation's largest advertiser-supported basic cable television networks. Currently reaching over 57 million subscribers, or approximately 94 percent of all cable households, The Family Channel provides high-quality entertainment programming and related products that emphasize traditional values and can be enjoyed by the entire family.
 IFE also owns MTM Entertainment Inc. which is engaged in the development, production and distribution of television series and other programs. MTM's film library includes series such as "Hill Street Blues," "The Mary Tyler Moore Show," "The Bob Newhart Show," "Remington Steele," "Lou Grant," "St. Elsewhere" and the current production of the CBS series, "Evening Shade."
 The Nostalgia Network Inc. operates a basic cable television service which offers a variety of lifestyle, entertainment and information programming to a target of active adult Americans who are 45 years or older.
 -0- 12/6/93
 /CONTACT: Michael Sitrick or David McAdam, Sitrick and Company, 310-788-2850/
 (FAM NNETC)


CO: International Family Entertainment ST: Virginia IN: ENT SU:

EH -- LA012 -- 0750 12/06/93 11:52 EST
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Publication:PR Newswire
Date:Dec 6, 1993
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