[mod_python] Shared Memory

If I have two directories in my cgi-bin such as "mp1" and "mp2" that i 
have setup in httpd.conf to be process by mod_python in two separate 
configuration blocks such as:

<Directory "/home/user/www/cgi-bin/mp1">
    AddHandler mod_python .py
    PythonHandler mptest
    PythonDebug On
    PythonAutoReload On
</Directory>

<Directory "/home/user/www/cgi-bin/mp2">
    AddHandler mod_python .py
    PythonHandler mptest
    PythonDebug On
    PythonAutoReload On
</Directory>

Would modules loaded in the application of mp1 be cached and shared with 
module being used in mp2 and vice-versa?  The reason I ask is that I 
have somewhat of a similar setup where I have a production framework 
running under mod_python in say "mp1" and then a beta framework running 
under mod_python in say "mp2" and they both reference a separate 
production and beta installations of the applications, however, when 
running the beta application (which gets updated before pushing to 
production for testing) I get errors from the beta application 
refrencing a library module in the production which are not updated with 
new code.

Any ideas on how I can setup a beta installation and production 
installation of the mod_python framework on the same server so that both 
access their own shared memory?

Huzaifa