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NOSTALGIA NETWORK RETAINS INVESTMENT BANKER TO REVIEW OFFERS

 LOS ANGELES, Oct. 27 /PRNewswire/ -- The special committee of the board of directors of The Nostalgia Network, Inc. (NASDAQ: NNET), announced today that the company had retained the investment banking firm of Allen & Company, Inc., New York, to assist the committee in its deliberations. The special committee was formed by the Nostalgia board of directors on Oct. 11, 1993 to consider an offer by Concept Communications, Inc., to purchase one million newly issued shares of Nostalgia's common stock, as well as to consider proposals made by other parties, including a proposal by International Family Entertainment, Inc., to purchase all outstanding shares of the company's stock.
 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- 10/27/93
 /CONTACT: James K. Merrill of Merrill & Associates, 619-431-5544, or Desmond Towey or George Robinson of Desmond Towey & Associates, 212-888-7600, all for Nostalgia Network, Inc./
 (NNET)


CO: The Nostalgia Network, Inc.; Allen & Company, Inc. ST: New York, California IN: ENT SU:

MP -- NY058 -- 7251 10/27/93 11:45 EDT
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Publication:PR Newswire
Date:Oct 27, 1993
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