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RICHEY SIGNS LETTER OF INTENT TO PURCHASE CABLE SYSTEM - CREATING THE FOURTH LARGEST PRIVATE CABLE TV COMPANY IN THE USA

 RICHEY SIGNS LETTER OF INTENT TO PURCHASE CABLE SYSTEM -
 CREATING THE FOURTH LARGEST PRIVATE CABLE TV COMPANY IN THE USA
 SAN DIEGO, March 17 /PRNewswire/ -- International Richey Pacific Cablevision Ltd. (Vancouver: IRR) announced today, that it has entered into a Letter of Intent to purchase Gulf American Cable Group IV which owns numerous private cable properties encompassing over 15,000 "passings" (physical cable passes a potential client unit) in Phoenix. Terms of the transaction were not disclosed.
 Company President Steven Richey, said, "This is a significant acquisition for us for several important reasons: it launches us into a large market near the company's southern California headquarters; the company's passings increase from 18,000 to 34,000; subscribers increase from over 10,000 to over 15,500. This moves our company from 8th to 4th place nationally, a very significant increase from just one acquisition."
 International Richey Pacific Cablevision is the eighth largest private cable television company in the USA. Private cable companies compete with larger public franchise companies for apartment complexes, mobile home parks, and condominiums etc. for the right to provide cable TV service located on private property. The company's common shares are publicly traded on the Vancouver Stock Exchange under the stock symbol - IRR. The company should meet all of the new NASDAQ requirements and intends to apply for a listing as soon as the new audited statements are completed late March 1992.
 -0- 3/17/92
 /CONTACT: John Lefebvre of Shareholder Relations, 303-457-2852, for International Richey Pacific Cablevision/ CO: International Richey Pacific Cablevision Ltd. ST: California IN: TLS SU:


BB -- DV005 -- 8785 03/17/92 12:51 EST
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Publication:PR Newswire
Date:Mar 17, 1992
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