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MPTV ANNOUNCES AGREEMENT TO ACQUIRE PROPERTY NEAR MONTICELLO

 MINNEAPOLIS, Aug. 4 /PRNewswire/ -- MPTV, Inc., (NASDAQ: MPTV) announced that it has entered into an agreement to acquire, subject to certain conditions, a 160 acre tract of development property located near Monticello, Minn. The 160 acre property is contiguous to a 100 acre property previously acquired by the company. The company has prepared preliminary plans for the development of a residential community on these parcels for up to 700 single family homes.
 The company has engaged a consultant who is arranging for surveys and other preliminary work on the project. The company anticipates that development of the project will take three to five years, depending upon governmental approvals, funding and market factors.
 This additional parcel will be acquired for shares of the company's common stock. One of the sellers was part of the group which sold the company its other 100 acre contiguous property in Minnesota and acts as a consultant to the company on real estate and development matters.
 MPTV is engaged in the entertainment and hospitality industry, with interests in television, video and resort properties.
 -0- 8/04/93
 /CONTACT: Gerald Doran, president/COO of MPTV, 612-571-7877/
 (MPTV)


CO: MPTV, Inc. ST: Minnesota IN: LEI SU: TNM

DB -- MN008 -- 9366 08/04/93 12:15 EDT
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Publication:PR Newswire
Date:Aug 4, 1993
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