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NOSTALGIA NETWORK ANNOUNCES RECEIPT EXPRESSION OF INTEREST FROM INTERNATIONAL EDUCATION CHAIN TO PURCHASE MAJORITY OF NOSTALGIA

 LOS ANGELES, July 13 /PRNewswire/ -- The Nostalgia Network, Inc. (NASDAQ: NNET) today reported that it has received a letter from Excellerated Learning Institute ("ELI"), expressing its intention of purchase a majority position in Nostalgia Network. ELI is an international educational company with operations in the U.S., Canada, Australia, New Zealand, Malaysia and Hong Kong. ELI co-founder and international businessman, Robert Kiyosaki, has gained considerable prominence with the recent publication of his book, "If You Want to be Rich and Happy, Don't Go to School," which subsequently moved onto the bestseller list in Australia. The ELI system offers training for business for teenagers and nascent entrepreneurs and has experienced very substantial growth in recent years. The popular acceptance of the ELI approach is in no small part the result of the company's focus on practicality, "what students really need to know the most", as co- founder Robert Kiyosaki recently put it.
 The letter received by Nostalgia from Arizona-based ELI, in part, reads that it is "...the intent of Excellerated Learning Institute ("ELI"), to form a company to acquire an equity interest in The Nostalgia Network Inc. consisting of all the outstanding stock available, but no less than 60 percent, for a price of $2.50 per share." ELI also expressed a willingness to execute a confidentiality agreement prior to performing the appropriate due diligence. Commenting on the receipt of the ELI letter and the prospective strategic alliance with The Excellerated Learning Institute, Nostalgia Chairman Michael E. Marcovsky said that "the incumbent Nostalgia management team is pleased by the possibility to enhance shareholder value by joining forces with a rapidly growing international enterprise working with the company to maximize its business prospects domestically and to extend its reach into untapped international markets." He further elaborated that this latest development is consistent with his recently stated commitment to find "alternatives that are better from the point of view of the public shareholders."
 The Nostalgia Network is the only 24 hour basic cable television service that targets the rapidly growing and increasingly affluent market of active adult Americans over 45 by offering entertainment, lifestyle and informational programming and currently serves more than 14 million subscribers via satellite to approximately 740 cable television systems throughout the United States.
 -0- 7/13/93
 /CONTACT: James K. Merrill of Merrill & Associates, 619-431-5544, or Desmond Towey and George Robinson of Desmond Towey & Associates, 212-888-7600 all for The Nostalgia Network/
 (NNET)


CO: The Nostalgia Network, Inc.; Excellerated Learning Institute ST: California, Arizona IN: ENT SU:

SH -- NY054 -- 0962 07/13/93 14:38 EDT
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Date:Jul 13, 1993
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