Cavalcade of Sports Media, Inc. Agrees to Acquire Assets of F2 Broadcast Network Inc

Contact Howard Stern
F2 Broadcast
954-736-1800
F2Pappabear@hotmail.com

DELMAR, Calif. (December 4, 2001) -- Cavalcade of Sports Media Inc. announced today that, having completed its due diligence under the previously executed Letter of Intent, it had determined to proceed with its proposed acquisition of the assets of F2 Broadcast Network, Inc. (OTCBB:FTWB). Cavalcade of Sports Media, Inc. is engaged in the development of a nostalgic sports TV channel, based upon a library of sports films. Details of Cavalcade's business can be obtained by referring to its form 10-SB filed with the Securities and Exchange Commission and available on the SEC's EDGAR system.

Ed Litwak, President of Cavalcade, stated that "The acquisition of F2 gives us the ability to increase our subscription revenues by making our nostalgic film library available to Internet subscribers. This is a good fit since F2 is not merely an Internet producer, but one with very strong sports affiliations and expertise with the potential to increase our sports coverage. In addition the acquisition gives us the streaming capabilities necessary for our product. We are proceeding to prepare and execute formal documents, which we expect to complete within the next ten days."

The acquisition of F2 assets is expected to be effected through a tax-free stock-for assets reorganization under Section 368(a)(1)(C) of the Internal Revenue Code, with F2 to be dissolved following the transaction. Cavalcade is forming a new subsidiary, F2 Acquisition, Inc. which will receive the F2 assets and operate them. Final terms of the acquisition will be formalized in the Plan and Agreement of Reorganization, currently being prepared. Details will be announced upon execution.

Shareholders may obtain a free copy of the Registration Statement, when available, and other documents filed by the companies with the SEC at the SEC's website www.sec.gov.

keywords: Cavalcade of Sports Media, F2 Broadcast Network, Ed Litwak