MMTV Medical Media Television Inc (CE)

PetCARE Television Network, Inc. ("PetCARE TV") (OTCBB: PTNW), an advertiser-supported, place-based media company that provides educational programming for veterinarian waiting rooms, announced today that in preparation for its previously announced merger with African American Medical Network, Inc. ("African American Medical"), it has changed its name to Medical Media Television, Inc. ("Medical Media"). At the opening of trading today, its common stock will be traded on the OTCBB under the new symbol of "MMTV." In conjunction with the merger, the Company effected a 1:30 reverse split of its common stock, effective today. Subsequent to the reverse stock split, the Company will be issuing a dividend of two shares of its restricted common stock for each share of common stock held by shareholders of record on May 10, 2005. The dividend is payable on May 17, 2005, and the shares of common stock issued as a dividend will be "restricted securities" as that term is defined in Rule 144 of the Securities Act of 1933 and affixed with the appropriate legend. Shareholders are not required to submit their current stock certificates for reissuance. Medical Media will issue 14,865,657 shares of its common stock to AFMN, Inc., the parent company of African American Medical, in exchange for all of the shares of African American Medical. The Company plans to file a registration statement on Form S-4 with the Securities and Exchange Commission registering those shares. Once the S-4 is declared effective by the Securities and Exchange Commission, the parties will consummate the merger. PetCARE TV's educational programming focusing on optimal healthcare for animal companions is currently aired in veterinary hospitals, is targeted to pet owners nationwide, and is viewed by approximately 4 million pet owners each month. African American Medical plans to provide educational programming to millions of African American patients through installation of viewing systems in doctors' offices serving the African American population. Programming for both networks is funded, in part, by commercial advertisers that are reviewed and approved by advisory boards for each network. Medical Media plans to launch similar place-based media networks in the areas of pediatrics, obstetrics/gynecology, and dermatology, with programming specific to each specialty. The corporate offices of Medial Media and PetCARE TV are located at 8406 Benjamin Road, Suite C, Tampa, Florida 33634. Questions may be addressed to Teresa J. Bray, Vice President at (813) 888-7330. More information on PetCARE TV, its business model, and products can be found on its website at www.petcaretv.com. The corporate offices of AFMN, Inc. and African American Medical are located at 6601 Center Drive West, Suite 521, Los Angeles, California 90045. Questions may be addressed to Robert Cambridge, Executive Vice President, at (310) 348-8170. More information on African American Medical and its programming can be found on its website at www.africanamericanmedicalnetwork.com. This press release shall not constitute an offer to sell or a solicitation of an offer to buy securities of PetCARE TV. Certain statements in this release and other written or oral statements made by or on behalf of the Company are "forward looking statements" within the meaning of the federal securities laws. Statements regarding future events and developments and our future performance, as well as management's expectations, beliefs, plans, estimates or projections relating to the future are forward-looking statements within the meaning of these laws. The forward looking statements are subject to a number of risks and uncertainties including market acceptance of the Company's services and projects and the Company's continued access to capital and other risks and uncertainties outlined in its filings with the Securities and Exchange Commission, which are incorporated herein by reference. The actual results the Company achieves may differ materially from any forward-looking statements due to such risks and uncertainties. These statements are based on our current expectations and speak only as of the date of such statements. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of future events, new information or otherwise.