Mountasia Entertainment International Inc. signed an agreement June 13 with Netherlands-based Fantasy Fun Parks, B.V. (FFP) which will enable the company to become an owner in up to 12 family entertainment parks in eight countries of the European Union.

Scott Demerau, Mountasia’s chairman and chief executive officer, said that the deal is valued between $30 and $60 million and that FFP has agreed to develop at least six entertainment centers with an infusion of $20 million in equity.  In exchange for the theme concepts and expertise, Mr. Demereau said Mountasia will receive ownership in each of the parks as well as licensing and management consulting fees.

FFP’s major stockholder is Jack Lowe, chairman of Lowe Finance Inc., who was the first McDonald’s licensee in Switzerland and is a partner in several Midas Muffler franchises in France.

For more information, Mr. Demerau may be reached at (404) 442-6640; fax, (404) 442-6644.