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Exhibit 99.3
FOR IMMEDIATE RELEASE
MagnaVision Merger Postponed to First Quarter 2001
FANWOOD, NJ - December 20, 2000 - MagnaVision Corporation (NASDAQ OTC Bulletin
Board: MAGV), based in Fanwood, NJ, announced that the merger with Blue
Acquisition Corp. will not close in the fourth quarter of 2000 as previously
announced. MagnaVision expects the merger to be consummated in the first quarter
of 2001.
This release contains certain statements, which constitute "forward-looking
statements" within the meaning of the Private Securities Litigation Reform Act
of 1995. Such forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results, performance
or achievements of the Company to be materially different from any future
results, performance or achievements of the Company. Such factors include among
others, general economic and business conditions, which will, among other
things, impact demand for the Company's services, changes in public taste,
trends and demographic changes, which may impact the Company's ability to
generate revenue; political, social and economic conditions and laws, rules and
regulations, which may affect the Company's results of operations; timely
completion of development plans; the indebtedness of the Company; quality of
management; availability of qualified personnel; changes in, or failure to
comply with, government regulations; and other factors.
Contact: Robert Hoffman
Jeffrey Haertlein
MagnaVision Corporation
141 South Avenue, Suite 4
Fanwood, NJ 07023
Phone: 908-490-9910
