Film and Music Entertainment to Acquire Miracle Entertainment Subsidiary

Film and Music Entertainment to Acquire Miracle Entertainment Subsidiary 


HOLLYWOOD, Calif., Nov. 4  /PRNewswire-FirstCall/ -- Film and Music
Entertainment, Inc. (OTC Pink Sheets: FLME) announced today that it has entered
into a Letter of Intent to acquire Miracle Productions, Inc., a wholly owned
subsidiary of Miracle Entertainment, Inc. (OTC Pink Sheets: MEMI).

The acquisition is valued at $4,000,000 and includes script options, rights to
production fees, U.S. and foreign distribution rights on various films in
development, as well as other assets.  Miracle will receive 20 million
restricted common shares of FAME as well as participation points in revenues
from the film rights acquired.

FAME also announced that 13 time academy award winner John Daly, who is
President of FAME, will also take over the additional duties of Chairman from
Michael Meyer who has stepped down to devote more time as a producer and
director of family oriented films.

FAME is an entertainment company specializing in the production and distribution
of "G" and "PG-13" rated, family oriented films that reflect positive moral
values.

  Further information on FAME can be obtained by contacting:
   Michael Meyer, [phone] or 



Statements included within this press release that are not historical in nature
constitute forward-looking statements for the purpose of the safe harbor
provision by the Private Securities Litigation Reform Act of 1995. Investors are
cautioned that this press release contains certain forward- looking statements
that involve substantial risks and uncertainties.  When used, the words
"anticipate", "believe", "estimate", "expect", and similar expressions as they
relate to the Company or its management are intended to identify such
forward-looking statements.  There can be no assurances that the Company will be
able to market, sell or deliver successfully its services outside the United
States, given risk factors including but not limited to unexpected changes in
regulatory requirements, export restrictions, tariffs and other trade barriers,
longer payment cycles, problems in colleting receivables, political instability,
fluctuations in currency exchange rates, imposition of currency exchange
controls, any of which could adversely affect the Company's international
operations.  There can be no assurance that one or more of these factors will
not have a material adverse affect on the Company's current or future
international operations and consequently, on the Company's business, results of
operations, and financial condition. 

DATASOURCE: Film and Music Entertainment, Inc.



CONTACT:  Michael Meyer of Film and Music Entertainment, [phone],

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