SOURCE: Rapid Fitness, Inc.

June 19, 2008 14:38 ET

Rapid Fitness, Inc. Announces Company Statement and Acquisition With Global TV Network, Trading on the OTCBB Has Offered to Purchase Our Mainstream Entertainment Subsidiaries

FT. LAUDERDALE, FL--(Marketwire - June 19, 2008) - RAPID FITNESS, INC. (PINKSHEETS: RPDI), a publicly traded company currently on the Over the Counter, announces we have an agreement with Global TV network, a Subsidiary trading on the OTC Bulletin Board (Holding Company soon to be announced), has offered to purchase our mainstream entertainment subsidiaries. Rapid Fitness board of Directors has agreed to Global TV Network acquiring these subsidiaries in a stock acquisition agreement. IPTV Entertainment Network -- KIDS MUSIC TV Network -- IPTV Sports Network.

Anthony Mellone Stated: "This is the best move we have made since we have begun operations. This agreement supports all our investments and shareholders into a stronger position. The purchasing shares shall be divided among all the shareholders of Rapid Fitness. Rapid Fitness, Inc. shareholders shall receive shares in Global TV Network and retain the shares presently held in RPDI. Amore TV may remain in (RPDI) or spun out. Amore TV will work together with the Global TV Network supplying content for the hospitality network of Global TV Network for their Hotel division network. We believe this is a strong move for Rapid Fitness shareholders and we are very excited to complete this agreement."

About Global TV Network:

The Global TV Network is an ISP Portal broadcasting in all languages around the world; their portal has been designed to open in 156 languages in all the top countries. They also stream TV programming in all languages any where in the world for the first worldwide TV broadcasting Network. Global TV Network broadcasting portal can be seen at:

View ISP Portal: (sign up free to view)
www.globalweb.tv
www.kmtvn.com

Safe Harbor Provision

This news release includes forward-looking statements, including with respect to the future level of business for the parties. These statements are necessarily subject to risk and uncertainty. Actual results could differ materially from those projected in these forward-looking statements as a result of certain risk factors that could cause results to differ materially from estimated results. Management cautions that all statements as to future results of operations are necessarily subject to risks, uncertainties and events that may be beyond the control of Rapid Fitness, Inc. and no assurance can be given that such results will be achieved. Potential risks and uncertainties include, but are not limited to, the ability to procure, properly price, retain and successfully complete projects, the availability of technical personnel, changes in technology and competition.

Contact Information

  • Contact:

    Rapid Fitness
    6499 N Powerline RD #201
    Ft. Lauderdale, Fl, 33309
    Ph: 954-772-2640
    Fax: 954-772-2643