CAROLCO PICTURES <CRC>, ORBIS IN AGREEMENT
  Carolco Pictures Inc said it signed
  a letter of intent to exchange 2.2 mln of its shares for all
  Orbis Communications Inc stock within the next 60 days.
      It said the Carolco shares used in the exchange are valued
  at 7.00 dlrs a share or a total value of 15.4 mln dlrs and will
  be adjusted based on the price of Carolco shares on the closing
  date.
      It said Orbis management will remain in place for at least
  three years.