EXHIBIT 99.1

THE PRODUCERS ENTERTAINMENT GROUP LTD. ISSUES DIVIDEND FOR QUARTER ENDING MARCH
31, 1998

     Beverly Hills, CA -- April 27, 1998 -- The Board of Directors of the
Producers Entertainment Group Ltd. (NASDAQ: TPEG, BSE: TPG) declared a
quarterly dividend, payable in common stock, for the Series A Preferred Stock
in an amount of $106,250.00 for the quarter ending March 31, 1998.  The
dividend will be paid on May 15, 1998 to shareholders of record at the close of
business on May 1, 1998.

     The Producers Entertainment Group Ltd. is primarily engaged in the
production and distribution of long form television and episodic television
series.

     The company recently completed production of the television movies
entitled "Floating Away" and "The Passion Of Ayn Rand" for Showtime Networks
and "Marabunta" for Fox Broadcasting Company.


CONTACT:  Irwin Meyer
          The Producers Entertainment Group
          (213) 634-8634