PILGRIM VENTURE IN MERGER AGREEMENT

  &lt;Pilgrim Venture Corp>
  said it signed a letter of intent to merge with &lt;Marketing
  Technologies Group Inc>, Rockville Center, N.Y.
      Under terms of the agreement, Pilgrim, a publicly held
  corporation, said it will issue two mln shares of authorized
  but unissued restricted common stock to Marketing Technologies
  shareholders. The company said it expects to complete the
  merger by June 17.
      Marketing Technologies is developing a computer-based
  advertising system geared toward large advertisers, the company
  said.
  

