Medieval Attractions N.V - Page 54

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          Antilles with the assistance of Florida counsel, Thomas Allen               
          (Allen) of Maguire, Voorhis & Wells, and Netherlands Antilles               
          attorneys, L.A. Haley and Y.L. Cuales of Corporate Agents, N.V.             
          (CANV).  Inverspan was created to own the land and building used            
          for the Florida castle.  The shareholders of Inverspan were:                
          Chavez and Climent, 11.1 percent each; Kahne, J. Montaner, and              
          P. Montaner, 13.08 percent each; Santandreu and Segui,                      
          12.62 percent each; and Valiente, 13.32 percent.  (Family members           
          such as husbands and wives who both held shares are included                
          under the family name.)                                                     
               Medieval Times, N.V. (MTNV), was incorporated in the                   
          Netherlands Antilles on December 21, 1982, with the assistance of           
          Allen and CANV.  MTNV was formed to operate the Florida castle.             
          The MTNV shares were held by the same individuals and in the same           
          proportions as the Inverspan stock.  Inverspan paid the costs of            
          constructing the Florida castle with a $2.65 million loan from a            
          bank.  The MTNV-Inverspan shareholders pledged $1.4 million                 
          collateral for the loan.                                                    
               Before the name “Medieval Times” was selected, the name                
          “El Cid” and “A Dinner Theater in a Castle” were considered.  The           
          movie “El Cid” had been released in 1961 and contained scenes               
          that depicted a medieval castle with towers, period costumes,               
          jousting, sword fighting, and knights, all of which became                  
          elements of the Medieval Times show.  The Spanish investors                 
          considered hiring Charlton Heston, the star of “El Cid”, to open            




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