RIO GRAND <RGDC> UNIT IN PARTNERSHIP AGREEMENT
Rio Grande Drilling Co said
its subsidiary, Rio Grande Video, entered into a limited
partnership agreement with a group of private investors to
develop and operate five Blockbuster Video Superstores in
Florida.
    Blockbuster Video Superstores are franchises of Blockbuster
Entertainment Corp <BBEC>.
    Rio Grande Video will act as general partner, owning 50 pct
of the partnership, it said. The company must open 10 stores
within the next two years to maintain exclusive license rights
in the territory, it said.
 Reuter
