Medieval Attractions N.V - Page 75

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          property to fit a medieval theme even though it would be                    
          dissimilar to the Florida castle.  The reassessment of expenses             
          helped persuade the Spanish investors to proceed in California.             
               A. Gelabert signed the contract to purchase the KDS property           
          on December 4, 1985.  Taylor did not meet with any of the Spanish           
          investors until January 1986.  Expenses incurred by Santandreu,             
          Segui, J. Montaner, and Kahne in connection with investigating              
          the California castle were paid by MTNV.                                    
               The same type of corporate organization was used to operate            
          the California castle as the Florida castle.  On December 30,               
          1985, Calinvest, N.V. (Calinvest), was incorporated in the                  
          Netherlands Antilles.  The purpose of Calinvest was to own the              
          land and building used for the California castle.  On                       
          December 31, 1985, MANV was incorporated for the purpose of                 
          operating the Buena Park castle.  The shareholders of Calinvest             
          and MANV were as follows:                                                   
                                        Interest       Interest                       
               Name                     in MANV        in Calinvest                   
          Dapy (Kahne1)                 12%                 17%                       
          Holiday (Segui1)              12%                 17%                       
          Primavert (Santandreu1)       12%                 20%                       
          Promidux (P. Montaner1)       12%                 17%                       
          Roundabout (Santandreu1)      12%                 17%                       
          Spectrust (Valiente1)         5%                  5%                        
          Wayout (Climent1)             5%                  5%                        
          Royal Catering (A. Gelabert1)    5%               2%                        
          Estaspan, Ltd.                5%                  -                         
          Santandreu                    5%                  -                         
          J. Montaner                   5%                  -                         
          Segui                         5%                  -                         
          Kahne                         5%                  -                         





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