EXHIBIT 99.2

TPEG STOCK TO COMMENCE TRADING 1 FOR 3 REVERSE STOCK SPLIT EFFECTIVE MAY 1,
1998

     Los Angeles, CA -- April 30, 1998 -- The Producers Entertainment Group
Ltd. (NASDAQ: TPEG, BSE: TPG) announced today that its common stock will begin
trading on Friday, May 1, 1998, on a post-reverse-split basis of one-for-three.

     No fractional shares will be issued in connection with the reverse stock
split.  Shareholders will receive cash as payment for any fractional shares
otherwise issuable.  The Company's transfer agent, Oxford Transfer & Registrar,
will mail stockholders instructions regarding the exchange of their existing
stock certificates for new stock certificates evidencing the post-split
shares.

     The terms of exercise for all outstanding warrants to purchase common
stock will also be affected, as of the open of business on May 1, 1998, such
that the exercise price is increased threefold and the number of shares
issuable upon exercise is reduced proportionately, so that the dollar amount
payable to the company upon exercise remains the same.

     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:  Arthur Bernstein
          The Producers Entertainment Group
          (213) 634-8634