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MPTV ANNOUNCES LETTER OF INTENT FOR ACQUISITION OF RESORT PROJECT LOCATED IN THE BAHAMA ISLANDS

 MINNEAPOLIS, Sept. 15 /PRNewswire/ -- MPTV, Inc., of Minneapolis, announced that it has entered into a Letter of Intent for the acquisition of a resort project located in the Bahama Islands. The resort is planning a development around its existing 18-hole golf course. The plans call for hotels and condominium properties to be built. Preliminary approval has been granted for 1,000 hotel condominium units. The project is expected to consist of 50,000 unit weeks which are designed to sell for approximately $2,000 to $4,000 per unit week.
 The transaction is subject to various conditions, including approval by MPTV's board of directors and the seller's shareholders. No implication is intended that the acquisition will be completed. The transaction involves MPTV issuing restricted common stock for the purchase.
 MPTV is engaged in the entertainment and hospitality industry, with interests in television, video and resort properties. Management feels this acquisition will compliment its hospitality division.
 -0- 9/15/93
 /CONTACT: Gerald Doran, president/COO of MPTV, 612-571-7877/


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

DB-KH -- MN007 -- 2276 09/15/93 13:15 EDT
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Publication:PR Newswire
Date:Sep 15, 1993
Words:185
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