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SANTA MONICA, Calif.--(BUSINESS WIRE)--Oct. 3, 2000--Corpas Investments, Inc., (OTCBB: CPIM - news), d/b/a MediaWebcast, announced today that it has closed an equity private placement for a total of 1.5 million dollars. This enables MediaWebcast to continue production of its four series on Fox Sports Net. The first program, The Core Games, begins airing this Wednesday at 3:30 PM and the second program, The Planet Extreme Championships, begins airing this Thursday at 3:30 PM. From these series MediaWebcast will derive revenue from ad sales through its association with Blagman Media International and sponsorship sales through its association with M.B. Promotions, Inc. "We have now launched the basis of our transmedia business model. Next month we will add two additional series to the Fox Sports Net schedule. Our initial revenues will build as these four series air over the next 52 weeks," said Carl Allison, SVP of Finance for MediaWebcast. "To fulfill our multiple platform distribution model we have a team of executives at the MIPCOM convention in Cannes this week to sell these series to the international market. In addition we are re-purposing the video from these series to create and distribute home videos and DVDs under branded titles to retail stores," said Molly A. Miles, CEO of MediaWebcast. "To further promote these series we have expanded our PlanetExtreme.com site and will be launching our new StreetPace.com site within the month," said Sam Estrin, CTO of MediaWebcast. Corpas Investments, Inc., (OTCBB: CPIM) - news) d/b/a MediaWebcast, is a targeted programming developer and a worldwide transmedia distribution company. Producing and distributing live action and Web-enabled content across a worldwide media spectrum, MediaWebcast's goal is to become one of the preeminent global creators and distributors of entertainment content. By utilizing its cross media asset management mandate, MediaWebcast exploits the relative strengths of all media markets. MediaWebcast is focused today on evolving traditional entertainment strategies into a worldwide transmedia company.

Statements about the Company's future expectations, including future revenues and earnings, and all other statements in this press release other than historical facts, are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such forward-looking statements be subject to the safe harbors created thereby. Since these statements involve risks and uncertainties and are subject to change at any time, the Company's actual results could differ materially from expected results.

KEYWORD: CALIFORNIA INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS ENTERTAINMENT INTERNET SOFTWARE

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