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RESHONE INTERNATIONAL SIGNS LETTER OF INTENT TO ACQUIRE MULTI ENTERTAINMENT HOLDINGS

 RESHONE INTERNATIONAL SIGNS LETTER OF INTENT
 TO ACQUIRE MULTI ENTERTAINMENT HOLDINGS
 NEW YORK, June 5 /PRNewswire/ -- Reshone International Investment Group, Ltd. (OTC BULLETIN BOARD: RIIG) today announced that it has signed a letter of intent to acquire all of the issued and outstanding shares of Multi Entertainment Holdings (MEH), headquartered in Sherman Oaks, Calif. The execution of the letter of intent was announced by Bruce Varon, president, and Art Beroff, director, of Reshone and Thomas J. Davis, Jr., president of MEH.
 MEH is in the business of distributing The Classic Russian Fairy Tale Film Collection, a series of live action feature children's films originally made in Russia. MEH is releasing new versions with enhanced English soundtracks throughout North America in theaters an on home video. The letter of intent provides that the exchange of shares is subject to the execution of a definitive agreement and is subject to board of directors' approval of Reshone. MEH's board has approved the exchange. MEH will become a wholly owned subsidiary of Reshone.
 MEH has an exclusive agreement with Gorky Studios, a Russian producer of children's films. Since 1964, Gorky has transformed some of the best-loved stories into live-action productions, averaging 85 minutes in length. The 24 features of The Classic Russian Fairy Tale Film Collection include, "Alladin's Lamp," "The Princess and the Pea," "Bambi," Hans Christian Andersen's "Little Mermaid," and many more. The films were shot at locations in Europe and Asia, with large casts and period costumes.
 MEH plans to launch North American release of the films in the fall of this year. It began sale of international rights of the collection in 1991 to companies like RCS Video (part of the Rizzoli publishing groups) who hold the Italian rights and, like MEH, plan a kick-off of the collection in the fall.
 -0- 6/5/92
 /CONTACT: Art Beroff, director of Reshone International Investment Group, 718-845-3103/
 (RIIG) CO: Reshone International Investment Group, Inc.; of Multi
 Entertainment Holdings ST: New York, California IN: ENT SU: TNM


TQ-TS -- NY005 -- 7336 06/05/92 09:01 EDT
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Publication:PR Newswire
Date:Jun 5, 1992
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