Exhibit C
[Xxxxxxx Letterhead]
March 6, 1997
Mr. Xxx Xxxx
c/o Xxx Xxxx & Associates
0000 Xxxx Xxxx Xxxx
Xxxxxxxx, XX 00000
Dear Xx. Xxxx:
This letter is to inform you that Xxxxxxx Group
Incorporated ("Xxxxxxx") has terminated the Stock
Purchase Agreement, dated as of December 27, 1996, by and
between Xxxxxxx and Marvel Entertainment Group, Inc.,
pursuant to its terms. Accordingly, conditions to the
obligation of Xxxxxxx pursuant to the Stock Purchase
Agreement (the "Arad Agreement") by and between Xxxxxxx
and Xxx Xxxx, dated as of November 20, 1996, as amended,
will not be satisfied. Please be advised that Xxxxxxx
does not intend to waive such conditions and anticipates
that the transactions contemplated by the Arad Agreement
will not be consummated.
Very truly yours,
XXXXXXX GROUP INCORPORATED
By: /s/ Xxxxx X. Xxxxxxxx
cc: Battle Xxxxxx LLP
Park Avenue Tower
00 Xxxx 00xx Xxxxxx
Xxx Xxxx, Xxx Xxxx 00000
Attention: Xxxxxx X. Xxxxxxx, Esq.
