<SUBMISSION>
<ACCESSION-NUMBER>0001104659-04-033865
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>7
<PERIOD>20041103
<ITEMS>1.01
<ITEMS>8.01
<ITEMS>9.01
<FILING-DATE>20041105
<DATE-OF-FILING-DATE-CHANGE>20041105
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>PENN NATIONAL GAMING INC
<CIK>0000921738
<ASSIGNED-SIC>7990
<IRS-NUMBER>232234473
<STATE-OF-INCORPORATION>PA
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>8-K
<ACT>34
<FILE-NUMBER>000-24206
<FILM-NUMBER>041122220
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>825 BERKSHIRE BLVD STE 200
<STREET2>WYOMISSING PROFESSIONAL CENTER
<CITY>WYOMISSING
<STATE>PA
<ZIP>19610
<PHONE>6103732400
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>825 BERSHIRE BLVD
<STREET2>SUITE 200
<CITY>WYOMISSING
<STATE>PA
<ZIP>19610
</MAIL-ADDRESS>
</FILER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a04-12765_18k.htm
<DESCRIPTION>8-K
<TEXT>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">UNITED STATES<br>
SECURITIES AND EXCHANGE COMMISSION</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">WASHINGTON, D.C. 20549</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="1" width="25%" noshade color="black" align="center">

</font></div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">FORM 8-K</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">CURRENT REPORT</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">Pursuant to Section 13 or 15 (d)
of the<br>
Securities Exchange Act of 1934</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Date of Report &#150; November 3, 2004</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Date of earliest event
reported)</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">PENN NATIONAL GAMING, INC.</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#160;(Exact name of registrant as specified in its
charter)</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div align="center">

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="31%" valign="top" style="padding:0in 0in 0in 0in;width:31.26%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Pennsylvania</font></b></p>
  </td>
  <td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.12%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="31%" valign="top" style="padding:0in 0in 0in 0in;width:31.26%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">0-24206</font></b></p>
  </td>
  <td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.12%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="31%" valign="top" style="padding:0in 0in 0in 0in;width:31.26%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">23-2234473</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="31%" valign="top" style="padding:0in 0in 0in 0in;width:31.26%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(State or other
  jurisdiction<br>
  of incorporation)</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.12%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="31%" valign="top" style="padding:0in 0in 0in 0in;width:31.26%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Commission File
  Number)</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.12%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="31%" valign="top" style="padding:0in 0in 0in 0in;width:31.26%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(IRS Employer<br>
  Identification<br>
  Number)</font></p>
  </td>
 </tr>
</table>

</div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div align="center">

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="100%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">825
  Berkshire Blvd., Suite 200, Wyomissing Professional Center, Wyomissing, PA
  19610</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="63%" valign="top" style="padding:0in 0in 0in 0in;width:63.88%;">
  <p align="center" style="margin:0in 0in .0001pt 1.25in;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Address of principal executive offices)</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.02%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="34%" valign="top" style="padding:0in 0in 0in 0in;width:34.1%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Zip Code)</font></p>
  </td>
 </tr>
</table>

</div>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Area Code (610) 373-2400</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Registrant&#146;s telephone
number)</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Check the
appropriate box below if the form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2 to Form 8-K):</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Soliciting material
pursuant to Rule 14a-12 under the Exchange Act (17 CFR 24.14a-12)</p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))</p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
40.13e-4(c))</p>

<div style="border:none;border-bottom:double windowtext 9.0pt;padding:0in 0in 0in 0in;">

<p style="border:none;margin:0in 0in .0001pt;padding:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

</div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-indent:-1.0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item 1.01</font></b><b><font size="1" style="font-size:3.0pt;font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Entry
into a Material Definitive Agreement.</u></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">On November 3, 2004, Penn National Gaming, Inc. (&#147;Penn
National&#148;), Argosy Gaming Company (&#147;Argosy&#148;) and Thoroughbred Acquisition Corp.
(&#147;Merger Sub&#148;), a wholly-owned subsidiary of Penn National, entered into an
Agreement and Plan of Merger (the &#147;Merger Agreement&#148;).&#160; Pursuant to the terms and subject to the
conditions set forth in the Merger Agreement, which has been approved by each
party&#146;s Board of Directors, Merger Sub will merge (the &#147;Merger&#148;) with and into
Argosy with Argosy continuing as the surviving corporation and becoming a
wholly owned subsidiary of Penn National.&#160;
In connection with the Merger, each share of Argosy&#146;s common stock that
is outstanding at the effective time of the Merger will be converted into the
right to receive $47 in cash, without interest (the &#147;Merger Consideration&#148;),
and each outstanding option to purchase Argosy&#146;s common stock will be converted
into the right to receive a cash amount equal to the Merger Consideration, less
the exercise price for such option and any applicable tax withholding amounts.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Merger does not require the approval of Penn
National&#146;s shareholders and is not conditioned upon receipt of financing by
Penn National.&#160; However, the Merger is
subject to certain closing conditions, including the approval of Argosy&#146;s
stockholders and the receipt of required antitrust and gaming authorities&#146;
approvals or clearances.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Penn National has received commitments from Deutsche
Bank Trust Company Americas, Deutsche Bank Securities Inc., Goldman Sachs
Credit Partners L.P., Lehman Brothers
Inc. and Lehman Commercial Paper Inc. (the &#147;Commitment Letter&#148;) to provide up
to $2.9 billion of senior secured credit facilities to finance the transactions
contemplated by the Merger Agreement, refinance certain indebtedness of Penn
National and Argosy and pay certain
fees and expenses in connection therewith.&#160;
It is contemplated that such senior secured credit facilities would be
comprised of a $750.0 million revolving credit facility, up to a $400.0
million term loan A facility and up to a $1.75 billion term loan B facility. The senior secured credit facilities are to
be guaranteed by substantially all domestic subsidiaries of Penn
National and Argosy and secured by
substantially all the assets of Penn National, Argosy and such guarantors, in each case except to the extent prohibited
by relevant gaming authorities after Penn National has used commercially
reasonable efforts to arrange for such guarantees or collateral or as otherwise excluded. Material conditions to funding
include, without limitation, absence of a material adverse change at Argosy,
refinancing of Argosy&#146;s existing indebtedness and Penn National&#146;s existing bank facilities, receipt of
necessary regulatory approvals and consummation of the Merger in compliance in
all material respects with the Merger Agreement.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In connection with the Merger, Penn National entered
into separate consulting agreements (the &#147;Consulting Agreements&#148;) with Argosy&#146;s
President and Chief Executive Officer, Mr. Richard Glasier, and Argosy&#146;s Senior
Vice President for Operations, Sales and Marketing, Ms. Virginia McDowell. The
Consulting Agreements provide that Mr. Glasier and Ms. McDowell will provide
Penn National with consulting services for a period of 180 days after the
effective time of the Merger.&#160; Mr.
Glasier&#146;s Consulting Agreement provides that he will receive compensation of
$10,000 for each 30-day period during the term of his Consulting Agreement and
that Penn National will provide Mr. Glasier and his spouse with health benefit
coverage until the date that Mr. Glasier becomes eligible for Medicare benefits
or, in the event of his death before becoming elibible for Medicare, until such
time as his spouse becomes eligible for Medicare.&#160; Ms. McDowell's Consulting Agreement provides
that she will receive compensation of $25,000 for each 30-day period during the
term of her Consulting Agreement.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">There are no material relationships between Penn
National or Merger Sub or any of their respective affiliates, directors or
officers, on the one hand, and Argosy, on the other hand, other</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">than in respect of the Merger Agreement and the Consulting Agreements.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The foregoing descriptions of the Merger, the Merger
Agreement, the Commitment Letter and the Consulting Agreements are not complete
and are qualified in their entirety by reference to the Merger Agreement, the
Commitment Letter and the Consulting Agreements, copies of which are filed with
this Current Report as Exhibits 2.1, 10.1 and 99.2 and 99.3 and are
incorporated herein by reference.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-indent:-1.0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item
8.01.</font></b><b><font size="1" style="font-size:3.0pt;font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Other
Events</u>.</b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">On November 3, 2004 Penn National and Argosy issued a
joint press release announcing the execution of the Merger Agreement. A copy of
the press release is attached to this Current Report as Exhibit 99.1 and is
incorporated herein by reference.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-indent:-1.0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item
9.01</font></b><b><font size="1" style="font-size:3.0pt;font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Financial
Statements and Exhibits</u>.</b></p>

<p style="margin:0in 0in .0001pt 1.0in;text-indent:-1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font style="font-style:italic;">Exhibits</font></i>.&#160;
The following exhibit is being filed herewith:</p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.1</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Agreement
and Plan of Merger, dated as of November 3, 2004, among Penn National Gaming,
Inc., Argosy Gaming Company and Thoroughbred Acquisition Corp. (the schedules
have been omitted pursuant to Item 601(b)(2) of Regulation S-K and will be
provided to the Securities and Exchange Commission upon request).</p>

<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10.1</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Senior
Secured Financing Commitment Letter, dated November 3, 2004, among Penn
National Gaming, Inc., Deutsche Bank Trust Company Americas, Deutsche Bank
Securities Inc., Goldman Sachs Credit Partners L.P., Lehman Brothers Inc. and
Lehman Commercial Paper Inc.</p>

<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">99.1</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Press
release issued by Penn National Gaming, Inc. dated November 3, 2004.</p>

<p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">99.2</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Consulting
Agreement dated as of November 3, 2004, between Mr. Richard Glasier and Penn
National Gaming, Inc.</p>

<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">99.3</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Consulting
Agreement dated as of November 3, 2004, between Ms. Virginia McDowell and Penn
National Gaming, Inc.</p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">SIGNATURES</font></u></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pursuant to the requirements of the Securities
Exchange Act of 1934, the Registrant has duly caused this report to be signed
on its behalf by the undersigned, thereunto duly authorized.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="51%" valign="top" style="padding:0in 0in 0in 0in;width:51.86%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Dated: November 5, 2004</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.48%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="41%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:41.66%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Penn National Gaming, Inc.</font></p>
  </td>
 </tr>
 <tr>
  <td width="51%" valign="top" style="padding:0in 0in 0in 0in;width:51.86%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.48%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="41%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:41.66%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="51%" valign="top" style="padding:0in 0in 0in 0in;width:51.86%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.48%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="41%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:41.66%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="51%" valign="top" style="padding:0in 0in 0in 0in;width:51.86%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.48%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
  </td>
  <td width="26%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:26.84%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Robert S.
  Ippolito</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.82%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="51%" valign="top" style="padding:0in 0in 0in 0in;width:51.86%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.48%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="41%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:41.66%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Robert S. Ippolito</font></p>
  </td>
 </tr>
 <tr>
  <td width="51%" valign="top" style="padding:0in 0in 0in 0in;width:51.86%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.48%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="41%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:41.66%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Vice President, Secretary and Treasurer</font></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">EXHIBIT
INDEX</font></b></p>

<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="8%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:8.34%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Exhibit No.</font></b></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.74%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="86%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:86.92%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Description</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="8%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:8.34%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.74%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="86%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:86.92%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="8%" valign="top" style="padding:0in 0in 0in 0in;width:8.34%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.1</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.74%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="86%" valign="top" style="padding:0in 0in 0in 0in;width:86.92%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Agreement and Plan of Merger, dated as of November
  3, 2004, among Penn National Gaming, Inc., Argosy Gaming Company and
  Thoroughbred Acquisition Corp. (the schedules have been omitted pursuant to
  Item 601(b)(2) of Regulation S-K and will be provided to the Securities and
  Exchange Commission upon request).</font></p>
  </td>
 </tr>
 <tr>
  <td width="8%" valign="top" style="padding:0in 0in 0in 0in;width:8.34%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.74%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="86%" valign="top" style="padding:0in 0in 0in 0in;width:86.92%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="8%" valign="top" style="padding:0in 0in 0in 0in;width:8.34%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10.1</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.74%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="86%" valign="top" style="padding:0in 0in 0in 0in;width:86.92%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Senior Secured Financing Commitment Letter, dated
  November 3, 2004, among Penn National Gaming, Inc., Deutsche Bank Trust
  Company Americas, Deutsche Bank Securities Inc., Goldman Sachs Credit
  Partners L.P., Lehman Brothers Inc. and Lehman Commercial Paper Inc.</font></p>
  </td>
 </tr>
 <tr>
  <td width="8%" valign="top" style="padding:0in 0in 0in 0in;width:8.34%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.74%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="86%" valign="top" style="padding:0in 0in 0in 0in;width:86.92%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="8%" valign="top" style="padding:0in 0in 0in 0in;width:8.34%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">99.1</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.74%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="86%" valign="top" style="padding:0in 0in 0in 0in;width:86.92%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Press release issued by Penn National Gaming, Inc.
  dated November 3, 2004.</font></p>
  </td>
 </tr>
 <tr>
  <td width="8%" valign="top" style="padding:0in 0in 0in 0in;width:8.34%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.74%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="86%" valign="top" style="padding:0in 0in 0in 0in;width:86.92%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="8%" valign="top" style="padding:0in 0in 0in 0in;width:8.34%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">99.2</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.74%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="86%" valign="top" style="padding:0in 0in 0in 0in;width:86.92%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Consulting
  Agreement dated as of November 3, 2004, between Mr. Richard Glasier and Penn
  National Gaming, Inc.</font></p>
  </td>
 </tr>
 <tr>
  <td width="8%" valign="top" style="padding:0in 0in 0in 0in;width:8.34%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.74%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="86%" valign="top" style="padding:0in 0in 0in 0in;width:86.92%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="8%" valign="top" style="padding:0in 0in 0in 0in;width:8.34%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">99.3</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.74%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="86%" valign="top" style="padding:0in 0in 0in 0in;width:86.92%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Consulting Agreement dated as of November 3, 2004,
  between Ms. Virginia McDowell and Penn National Gaming, Inc.</font></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

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<DOCUMENT>
<TYPE>EX-2.1
<SEQUENCE>2
<FILENAME>a04-12765_1ex2d1.htm
<DESCRIPTION>EX-2.1
<TEXT>
<html>

<head>





</head>

<body lang="EN-US">

<div style="font-family:Times New Roman;">

<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit 2.1</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">AGREEMENT
AND PLAN OF MERGER</font></b></p>

<p style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">THIS AGREEMENT
AND PLAN OF MERGER (this &#147;<u>Agreement</u>&#148;), dated as of November 3, 2004, is
among ARGOSY GAMING COMPANY, a Delaware corporation (the &#147;<u>Company</u>&#148;),
PENN NATIONAL GAMING, INC., a Pennsylvania corporation (&#147;<u>Parent</u>&#148;), and
THOROUGHBRED ACQUISITION CORP., a Delaware corporation and a direct wholly
owned subsidiary of Parent (&#147;<u>Merger Sub</u>&#148;).</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WHEREAS, the
Boards of Directors of the Company, Parent and Merger Sub each have, in light
of and subject to the terms and conditions set forth herein, resolved to deem
this Agreement and the transactions contemplated hereby, including the Merger,
taken together, advisable and fair to, and in the best interests of, their
respective stockholders.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">NOW,
THEREFORE, in consideration of the premises and the representations,
warranties, covenants and agreements herein contained, and intending to be
legally bound hereby, the Company, Parent and Merger Sub hereby agree as
follows:</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE I</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">THE MERGER</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:windowtext;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="font-size:10.0pt;">Section 1.1&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><u>The
Merger</u>.&#160; At the Effective Time and
upon the terms and subject to the conditions of this Agreement and in
accordance with the Delaware General Corporation Law (the &#147;<u>DGCL</u>&#148;),
Merger Sub shall be merged with and into the Company (the &#147;<u>Merger</u>&#148;).&#160; Following the Merger, the Company shall
continue as the surviving corporation (the &#147;<u>Surviving Corporation</u>&#148;) and
the separate corporate existence of Merger Sub shall cease.</p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:windowtext;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="font-size:10.0pt;">Section 1.2&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><u>Effective
Time</u>.&#160; Subject to the provisions of
this Agreement, Parent, Merger Sub and the Company shall cause the Merger to be
consummated by filing an appropriate Certificate of Merger or other appropriate
documents (the &#147;<u>Certificate of Merger</u>&#148;) with the Secretary of State of
the State of Delaware in such form as required by, and executed in accordance with,
the relevant provisions of the DGCL, as soon as practicable on the Closing Date
(as defined herein).&#160; The Merger shall
become effective upon such filing or at such time thereafter as is provided in
the Certificate of Merger (the &#147;<u>Effective Time</u>&#148;).</p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:windowtext;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="font-size:10.0pt;">Section 1.3&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><u>Closing
of the Merger</u>.&#160; The closing of the
Merger (the &#147;<u>Closing</u>&#148;) will take place at a time and on a date to be
specified by the parties (the &#147;<u>Closing Date</u>&#148;), which shall be no later
than the later to occur of (i) the second business day (or such later date,
which shall not in any event be more than five business days after such second
business day, as may be required in order to comply with any notices required
by the definitive documentation entered into in connection with the Financing
(as defined herein)) after satisfaction or waiver of the conditions set forth
in Article VII (other than those conditions that by their nature are to be
satisfied at the Closing, but subject to the fulfillment or waiver of those
conditions) or (ii) the Extension Date (as</p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">defined herein), at the offices
of Skadden, Arps, Slate, Meagher &amp; Flom LLP, Four Times Square, New York,
New York, 10036, or at such other time, date or place as agreed to in writing
by the parties hereto.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:windowtext;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="font-size:10.0pt;">Section 1.4&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><u>Effects
of the Merger</u>.&#160; The Merger shall have
the effects set forth in the DGCL.&#160;
Without limiting the generality of the foregoing, and subject thereto,
at the Effective Time, all the properties, rights, privileges, powers and
franchises of the Company and Merger Sub shall vest in the Surviving
Corporation, and all debts, liabilities and duties of the Company and Merger
Sub shall become the debts, liabilities and duties of the Surviving
Corporation.</p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:windowtext;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="font-size:10.0pt;">Section 1.5&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><u>Certificate
of Incorporation and Bylaws</u>.&#160; The
certificate of incorporation of the Company in effect at the Effective Time
shall be the certificate of incorporation of the Surviving Corporation.&#160; The bylaws of Merger Sub in effect at the
Effective Time shall be the bylaws of the Surviving Corporation until amended
in accordance with applicable Law (as defined herein).</p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:windowtext;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="font-size:10.0pt;">Section 1.6&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><u>Directors</u>.&#160; The directors of Merger Sub at the Effective
Time shall be the initial directors of the Surviving Corporation, to hold
office in accordance with the certificate of incorporation and bylaws of the
Surviving Corporation until their successors are duly elected or appointed and
qualified or until their earlier death, resignation or removal.</p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:windowtext;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="font-size:10.0pt;">Section 1.7&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><u>Officers</u>.&#160; The officers of Merger Sub at the Effective
Time shall be the initial officers of the Surviving Corporation, to hold office
in accordance with the certificate of incorporation and bylaws of the Surviving
Corporation until their successors are duly elected or appointed and qualified
or until their earlier death, resignation or removal.</p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE II</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">CONVERSION OF SHARES</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:windowtext;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="font-size:10.0pt;">Section 2.1&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><u>Conversion
of Shares</u>.</p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; At
the Effective Time, each outstanding share of the common stock, par value $0.01
per share, of Merger Sub shall, by virtue of the Merger and without any action
on the part of Parent, Merger Sub or the Company, be converted into one (1)
fully paid and non-assessable share of common stock, par value $0.01 per share,
of the Surviving Corporation.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; At
the Effective Time, each share of Common Stock, par value $0.01 per share, of
the Company (&#147;<u>Company Common Stock</u>&#148;) issued and outstanding immediately
prior to the Effective Time (individually, a &#147;<u>Share</u>&#148; and collectively,
the &#147;<u>Shares</u>&#148;) (other than (i) Shares held by the Company, (ii) Shares
held by Parent, Merger Sub or any other subsidiary of Parent and (iii) any
Dissenting Shares (as defined herein)) shall, by virtue of the Merger and
without any action on the part of Merger Sub, the Company or any holder
thereof, be converted into and be exchangeable</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">for the right to receive $47,
without interest, in cash (the &#147;<u>Merger Consideration</u>&#148;).&#160; At the Effective Time, the Shares will no
longer be outstanding and will automatically be cancelled and retired and will
cease to exist, and each holder of a certificate representing such Share
immediately prior to the Effective Time will cease to have any rights with
respect thereto, except the right to receive the Merger Consideration upon
surrender of such certificate in accordance with Section 2.4.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; At
the Effective Time, each Share held by Parent, Merger Sub, any other subsidiary
of Parent, or the Company immediately prior to the Effective Time shall, by
virtue of the Merger and without any action on the part of Merger Sub, the
Company or any holder thereof, be canceled, retired and cease to exist and no
payment shall be made with respect thereto.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Notwithstanding
anything in this Agreement to the contrary, Shares issued and outstanding
immediately prior to the Effective Time that are held by any holder who is
entitled to demand and properly demands appraisal of such shares pursuant to
the provisions of Section 262 of the DGCL (&#147;<u>Section 262</u>&#148;), and who
complies in all respects with Section 262 (the &#147;<u>Dissenting Shares</u>&#148;),
shall not be converted into the right to receive the Merger Consideration as
provided in Section 2.1(b), but instead such holder shall be entitled to
payment of the fair value of such shares in accordance with the provisions of
Section 262.&#160; At the Effective Time, all
Dissenting Shares shall no longer be outstanding and shall automatically be
canceled and shall cease to exist, and each holder of Dissenting Shares shall
cease to have any rights with respect thereto, except the right to receive the
fair value of such shares in accordance with the provisions of Section
262.&#160; Notwithstanding the foregoing, if
any such holder shall fail to perfect or otherwise shall waive, withdraw or
lose the right to appraisal under Section 262 or a court of competent
jurisdiction shall determine that such holder is not entitled to the relief
provided by Section 262, then the right of such holder to be paid the fair
value of such holder&#146;s Dissenting Shares under Section 262 shall cease and such
Dissenting Shares shall be deemed to have been converted at the Effective Time
into, and shall have become, the right to receive the Merger Consideration as
provided in Section 2.1(b).&#160; The Company
shall give Parent (i) prompt notice of any written demands to assert dissenters&#146;
rights that are received by the Company with respect to Shares and (ii) the
right to participate in all negotiations and proceedings with respect to any
such demands.&#160; The Company shall not,
without the prior written consent of Parent, voluntarily make any payment with
respect to or settle any such demands.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:windowtext;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="font-size:10.0pt;">Section 2.2&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><u>Stock
Options</u>.&#160; As soon as practicable
following the date of this Agreement, Parent and the Company (or, if
appropriate, any committee of the Company Board (as defined herein)&#160; administering the Company&#146;s Employee Stock Option
Plan, as amended, or 1993 Director Stock Option Plan (collectively, the &#147;<u>Company
Option Plans</u>&#148;)) shall take such action as may be required to effect the
following provisions of this Section 2.2.&#160;
As of the Effective Time each option to purchase Shares pursuant to the
Company Option Plans (each a &#147;<u>Company Stock Option</u>&#148;) which is then
outstanding and has not been exercised shall (whether or not fully vested), by
virtue of the Merger and without any action on the part of Merger Sub, the
Company or any holder thereof, be converted into and exchangeable for the right
to receive an</p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">amount equal to the Merger
Consideration in cash, less an amount equal to (a) the exercise price for such
Company Stock Option plus (b) any applicable tax withholding amounts.&#160; Notwithstanding the preceding sentence, any
Company Stock Option with respect to which the applicable exercise price is
greater than or equal to the Merger Consideration shall be fully exercisable
prior to the Effective Time in accordance with the terms of the Company Option
Plans, and any such Company Stock Option that is not exercised prior to the
Effective Time shall be cancelled as of the Effective Time.&#160; The Surviving Corporation shall pay the cash
consideration to be paid for the Company Stock Options, via check, as promptly
as practicable but, in any event, within ten (10) business days after the
Effective Time.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:windowtext;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="font-size:10.0pt;">Section 2.3&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><u>Exchange
Fund</u>.&#160; Prior to the Effective Time,
Parent shall appoint a commercial bank or trust company reasonably acceptable
to the Company to act as exchange agent hereunder for the purpose of exchanging
Shares for the Merger Consideration (the &#147;<u>Exchange Agent</u>&#148;).&#160; Substantially concurrent with the Effective
Time, Parent shall deposit with the Exchange Agent, in trust for the benefit of
holders of Shares, the cash payable pursuant to Section 2.1(b) in exchange for
outstanding Shares.&#160; The cash deposited
with the Exchange Agent shall hereinafter be referred to as the &#147;<u>Exchange
Fund</u>.&#148;</p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:windowtext;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="font-size:10.0pt;">Section 2.4&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><u>Exchange
Procedures</u>.&#160;&#160; As soon as reasonably
practicable after the Effective Time, the Surviving Corporation shall cause the
Exchange Agent to mail to each holder of a certificate or certificates which
immediately prior to the Effective Time represented outstanding Shares (the &#147;<u>Certificates</u>&#148;)
(a) a letter of transmittal which shall specify that delivery shall be
effective, and risk of loss and title to the Certificates shall pass, only upon
delivery of the Certificates to the Exchange Agent, and which letter shall be
in customary form and have such other provisions as Parent may reasonably
specify; and (b) instructions for effecting the surrender of such Certificates
in exchange for the Merger Consideration.&#160;
Upon surrender of a Certificate to the Exchange Agent together with such
letter of transmittal, duly executed and completed in accordance with the
instructions thereto, and such other documents as may reasonably be required by
the Exchange Agent, the holder of such Certificate shall be entitled to receive
in exchange therefor a check in the amount equal to the cash that such holder
has the right to receive pursuant to the provisions of this Article II.&#160; No interest will be paid or will accrue on
any cash payable upon the surrender of the Certificates.&#160; If payment is made to a person other than the
person in whose name the surrendered Certificate is registered, it will be a
condition of payment that the Certificate so surrendered will be properly
endorsed or otherwise be in proper form for transfer and that the person
requesting such payment shall (i) pay any transfer or other taxes required by
reason of the payment of the Merger Consideration to a person other than the
registered holder of the surrendered Certificate or (ii) establish to the satisfaction
of the Surviving Corporation that such tax has been paid or is not applicable.</p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:windowtext;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="font-size:10.0pt;">Section 2.5&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><u>No
Further Ownership Rights in Company Common Stock</u>.&#160;&#160; All cash paid upon conversion of the Shares
in accordance with the terms of Article I and this Article II shall be deemed
to have been paid in full satisfaction of all rights pertaining to the Shares.</p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:windowtext;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="font-size:10.0pt;">Section 2.6&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><u>Termination
of Exchange Fund</u>.&#160; Any portion of the
Exchange Fund which remains undistributed to the holders of Certificates for
one (1) year after the Effective Time shall be delivered to the Surviving
Corporation or otherwise on the instruction of the Surviving Corporation, and
any holders of the Certificates who have not theretofore complied with this
Article II shall thereafter look only to the Surviving Corporation and Parent
for the Merger Consideration with respect to the Shares formerly represented
thereby to which such holders are entitled pursuant to Section 2.1(b) and
Section 2.4.&#160; Any such portion of the
Exchange Fund remaining unclaimed by holders of Shares five (5) years after the
Effective Time (or such earlier date immediately prior to such time as such
amounts would otherwise escheat to or become subject to the abandoned property
Law of any Governmental Entity (as defined herein)) shall, to the extent
permitted by Law, become the property of the Surviving Corporation free and
clear of any claims or interest of any person previously entitled thereto.</p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:windowtext;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="font-size:10.0pt;">Section 2.7&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><u>No
Liability</u>.&#160; None of Parent, Merger
Sub, the Company, the Surviving Corporation or the Exchange Agent shall be
liable to any person in respect of any Merger Consideration from the Exchange
Fund delivered to a public official pursuant to any applicable abandoned
property, escheat or similar Law.</p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:windowtext;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="font-size:10.0pt;">Section 2.8&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><u>Investment
of the Exchange Fund</u>.&#160; The Exchange
Agent shall invest any cash included in the Exchange Fund as directed by Parent
on a daily basis.&#160; Any interest and other
income resulting from such investments shall promptly be paid to Parent.</p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:windowtext;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="font-size:10.0pt;">Section 2.9&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><u>Lost
Certificates</u>.&#160; If any Certificate
shall have been lost, stolen or destroyed, upon the making of an affidavit of
that fact by the person claiming such Certificate to be lost, stolen or
destroyed and, if required by Parent, the posting by such person of a bond in
the form reasonably required by Parent as indemnity against any claim that may
be made against it with respect to such Certificate, the Exchange Agent will
deliver in exchange for such lost, stolen or destroyed Certificate the
applicable Merger Consideration with respect to the Shares formerly represented
thereby.</p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:windowtext;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="font-size:10.0pt;">Section 2.10&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><u>Withholding
Rights</u>.&#160; Each of the Surviving
Corporation and Parent shall be entitled to deduct and withhold from the Merger
Consideration otherwise payable pursuant to this Agreement to any holder of
Shares such amounts as it is required to deduct and withhold with respect to
the making of such payment under the Code and the rules and regulations
promulgated thereunder, or any provision of a Tax (as defined herein) Law.&#160; To the extent that amounts are so deducted
and withheld by the Surviving Corporation or Parent, as the case may be, such
deducted and withheld amounts shall be treated for all purposes of this
Agreement as having been paid to the holder of the Shares in respect to which
such deduction and withholding were made by the Surviving Corporation or
Parent, as the case may be.</p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:windowtext;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="font-size:10.0pt;">Section 2.11&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><u>Stock
Transfer Books</u>.&#160; The stock transfer
books of the Company shall be closed immediately upon the Effective Time and
there shall be no further registration of transfers of Shares thereafter on the
records of the Company.&#160; On or after the
Effective Time, any Certificates presented to the Exchange Agent or Parent</p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">for any reason shall be
converted into the Merger Consideration with respect to the Shares formerly
represented thereby.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE III</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">REPRESENTATIONS AND WARRANTIES OF THE COMPANY</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Except as set
forth in (a) the Company SEC Reports filed prior to the date hereof or (b) the
disclosure schedule delivered by the Company to Parent prior to the execution
of this Agreement (the &#147;<u>Company Disclosure Schedule</u>&#148;) (each section of
which qualifies the correspondingly numbered representation and warranty or
covenant to the extent specified therein), the Company hereby represents and
warrants to each of Parent and Merger Sub as follows:</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:windowtext;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="font-size:10.0pt;">Section 3.1&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><u>Organization
and Qualification; Subsidiaries</u>.</p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The
Company and each of its subsidiaries is a corporation or legal entity duly
organized, validly existing and in good standing under the Laws of the
jurisdiction of its organization and has all requisite corporate, partnership
or similar power and authority to own, lease and operate its properties and to
carry on its business as now conducted and proposed by the Company to be
conducted.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Section
3.1(b) of the Company Disclosure Schedule sets forth a list of all subsidiaries
of the Company.&#160; The Company does not
own, directly or indirectly, beneficially or of record, any shares of capital
stock or other security of any other entity or any other investment in any
other entity.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Each
of the Company and its subsidiaries is duly qualified or licensed and in good
standing to do business in each jurisdiction in which the property owned,
leased or operated by it or the nature of the business conducted by it makes
such qualification or licensing necessary, except where the failure to be so
duly qualified or licensed and in good standing does not and would not reasonably
be expected to have, individually or in the aggregate, a Company Material
Adverse Effect.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The
Company has heretofore made available or delivered to Parent accurate and
complete copies of the certificate of incorporation and bylaws (or other similar
governing instruments), as currently in effect, of the Company and each of its
material subsidiaries.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:windowtext;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="font-size:10.0pt;">Section 3.2&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><u>Capitalization
of the Company and Its Subsidiaries</u>.</p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The
authorized capital stock of the Company consists of: (i) 120,000,000 shares of
Company Common Stock, of which 29,491,749 shares were issued and outstanding
and no shares of which were held in the Company&#146;s treasury, each as of the
close of business on October 29, 2004; (ii) 85 shares of redeemable common
stock, par value $.01 per share (&#147;<u>Redeemable Common Stock</u>&#148;), of which no
shares are issued and outstanding; and (iii) 10,000,000 shares of preferred
stock, par value $.01 per share (&#147;<u>Preferred Stock</u>&#148;), of which no shares
are issued and outstanding.&#160; All of the
issued and</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">outstanding Shares have been
validly issued and are duly authorized, fully paid, non-assessable and free of
preemptive rights.&#160; As of November 1,
2004, 1,324,549 shares of Company Common Stock were reserved for issuance and
issuable upon or otherwise deliverable in connection with the exercise of
outstanding Company Stock Options issued pursuant to the Company Option
Plans.&#160; Since June 30, 2004, (a) no
shares of the Company&#146;s capital stock have been issued other than pursuant to
Company Stock Options already in existence on such date, (b) no Company Stock
Options have been granted and (c) there has been no declaration or payment of
any dividend or other distribution and no repurchase of shares of capital stock
of the Company.&#160; Except as set forth
above, as of the date hereof, there are outstanding (i) no shares of capital
stock or other voting securities of the Company; (ii) no securities of the
Company or any of its subsidiaries convertible into or exchangeable for shares
of capital stock or voting securities of the Company; (iii) no options or other
rights to acquire from the Company or any of its subsidiaries, and no
obligations of the Company or any of its subsidiaries to issue, any capital
stock, voting securities or securities convertible into or exchangeable for
capital stock or voting securities of the Company; and (iv) no equity
equivalents, interests in the ownership or earnings of the Company or any of
its subsidiaries or other similar rights (including stock appreciation rights)
(collectively, &#147;<u>Company Securities</u>&#148;).&#160;
There are no outstanding obligations of the Company or any of its
subsidiaries to repurchase, redeem or otherwise acquire any Company
Securities.&#160; There are no stockholder agreements,
voting trusts or other agreements or understandings to which the Company or any
of its subsidiaries is a party relating to the voting of any shares of capital
stock of the Company.&#160; Section 3.2(a) of
the Company Disclosure Schedule sets forth information regarding the current
exercise price, date of grant and number granted of Company Stock Options for
each holder thereof.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; All
of the outstanding capital stock of the Company&#146;s subsidiaries is owned by the
Company, directly or indirectly, free and clear of any Lien (as defined
herein), other than Permitted Exceptions, or any other limitation or
restriction (including any restriction on the right to vote or sell the same,
except as may be provided as a matter of Law).&#160;
There are no securities of the Company or its subsidiaries convertible
into or exchangeable for, no options or other rights to acquire from the
Company or its subsidiaries, and no other contract, understanding, arrangement
or obligation (whether or not contingent) providing for the issuance or sale,
directly or indirectly of, any capital stock or other ownership interests in,
or any other securities of, any subsidiary of the Company.&#160; There are no outstanding contractual
obligations of the Company or its subsidiaries to repurchase, redeem or
otherwise acquire any outstanding shares of capital stock or other ownership
interests in any subsidiary of the Company.&#160;
For purposes of this Agreement, &#147;<u>Lien</u>&#148; means any mortgage, lien,
claim, pledge, charge, limitation on the Company&#146;s or any subsidiary of the
Company&#146;s voting rights, security interest or other adverse encumbrance of any
kind or nature whatsoever.&#160; There are no
outstanding contractual obligations of the Company or any of the Company&#146;s
subsidiaries to provide funds to, or make any investment (in the form of a
loan, capital contribution or otherwise) in, any subsidiary of the Company that
is not wholly owned by the Company or to or in any other person.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:windowtext;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="font-size:10.0pt;">Section 3.3&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><u>Authority
Relative to This Agreement; Consents and Approvals</u>.</p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The
Company has all necessary corporate power and authority to execute and deliver
this Agreement and to consummate the transactions contemplated hereby.&#160; No other corporate proceedings on the part of
the Company are necessary to authorize this Agreement or to consummate the
transactions contemplated hereby (other than, with respect to the Merger and
this Agreement, the Company Requisite Vote (as defined herein)).&#160; This Agreement has been duly and validly
executed and delivered by the Company and, assuming the due and valid
authorization, execution and delivery by Parent and Merger Sub, constitutes a
valid, legal and binding agreement of the Company, enforceable against the
Company in accordance with its terms, subject to applicable bankruptcy,
insolvency, moratorium, reorganization or similar Laws affecting creditors&#146;
rights generally and general principles of equity.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The
Board of Directors of the Company (the &#147;<u>Company Board</u>&#148;) has duly and
validly authorized the execution and delivery of this Agreement and approved
the consummation of the transactions contemplated hereby, including the Merger,
and has resolved (i) to deem this Agreement and the transactions contemplated
hereby, including the Merger, taken together, advisable and fair to, and in the
best interests of, the Company and its stockholders and (ii) to recommend that
the stockholders of the Company approve and adopt this Agreement.&#160;&#160; The Company Board has directed that this
Agreement be submitted to the stockholders of the Company for their
approval.&#160; The affirmative approval of
the holders of Shares representing a majority of the votes that are entitled to
be cast by the holders of all outstanding Shares (voting as a single class) as
of the record date for the Company (the &#147;<u>Company Requisite Vote</u>&#148;) is the
only vote of the holders of any class or series of capital stock of the Company
necessary to adopt this Agreement and approve the transactions contemplated
hereby, including the Merger.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:windowtext;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="font-size:10.0pt;">Section 3.4&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><u>SEC
Reports; Financial Statements</u>.&#160; The
Company has filed all required forms, statements, reports and documents with
the Securities and Exchange Commission (the &#147;<u>SEC</u>&#148;) since January 1, 2003
(each, a &#147;<u>Company SEC Report</u>,&#148; collectively, the &#147;<u>Company SEC Reports</u>&#148;),
each of which has complied in all material respects with all applicable
requirements of the Securities Act of 1933 (the &#147;<u>Act</u>&#148;), the Securities
Exchange Act of 1934 (the &#147;<u>Exchange Act</u>&#148;), or both, as the case may be,
each as in effect on the dates such Company SEC Reports were filed.&#160; Except as and to the extent amended,
modified, restated or revised in any subsequent Company SEC Report filed prior
to the date of this Agreement, none of the Company SEC Reports, including any
financial statements or schedules included or incorporated by reference
therein, contained, when filed, any untrue statement of a material fact or
omitted to state a material fact required to be stated or incorporated by
reference therein or necessary in order to make the statements therein, in
light of the circumstances under which they were made, not misleading.&#160; The financial statements of the Company,
including all related notes and schedules, contained in the Company SEC Reports
(the &#147;<u>Company Financial Statements</u>&#148;) complied as to form in all material
respects with applicable accounting requirements and the published rules and
regulations of the SEC with respect thereto,</p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">have been prepared in
accordance with United States generally accepted accounting principles (&#147;<u>GAAP</u>&#148;)
applied on a consistent basis during the periods involved (except as may be
indicated in the notes thereto), and fairly present (on a consolidated basis,
if applicable) (i) the financial position of the Company as of the dates thereof,
and (ii) its results of operations, cash flows and changes in stockholders&#146;
equity for the periods then ended (subject, in the case of the unaudited
interim financial statements, to normal year-end adjustments).&#160; Since December 31, 2003 (the &#147;<u>Audit Date</u>&#148;),
there has not been any material change, or any application or request for any
material change, by the Company in accounting principles, methods or policies
for financial accounting or Tax purposes (subject, in the case of the unaudited
interim financial statements, to normal year-end adjustments).</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:windowtext;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="font-size:10.0pt;">Section 3.5&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><u>No
Undisclosed Liabilities</u>.&#160; Except as
and to the extent publicly disclosed by the Company in the Company SEC Reports
(including the Company Financial Statements) filed prior to the date of this Agreement
or as incurred in the ordinary course of business since the Audit Date, none of
the Company or any of its subsidiaries has any liabilities or obligations of
any nature, whether or not accrued, contingent or otherwise, and whether due or
to become due or asserted or unasserted, whether or not required by GAAP to be
reflected in, reserved against or otherwise described in the consolidated
balance sheet of the Company or any of its subsidiaries (in each case including
the notes thereto), which have or would reasonably be expected to have,
individually or in the aggregate, a Company Material Adverse Effect.&#160; Except as set forth in the Company SEC
Reports filed prior to the date of this Agreement, there are no related-party
transactions or off-balance sheet structures or transactions with respect to
the Company or any of its subsidiaries that would be required to be reported or
set forth therein pursuant to the Exchange Act or the rules promulgated by the
SEC thereunder.</p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:windowtext;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="font-size:10.0pt;">Section 3.6&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><u>Absence
of Changes</u>.&#160; Except as and to the
extent publicly disclosed by the Company in the Company SEC Reports filed prior
to the date of this Agreement, since the Audit Date, the business of the
Company and each of its subsidiaries has been carried on only in the ordinary
course consistent with past practice, and none of the Company or any of its
subsidiaries has incurred any liabilities of any nature, whether or not
accrued, contingent or otherwise, which do or which would reasonably be
expected to have, and there have been no events, changes or effects with
respect to the Company or its subsidiaries which do or which would reasonably
be expected to have, individually or in the aggregate, a Company Material
Adverse Effect.</p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:windowtext;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="font-size:10.0pt;">Section 3.7&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><u>Consents
and Approvals; No Violations</u>.</p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Except
for such filings, permits, authorizations, consents and approvals as may be
required by or under, and other applicable requirements of, the Act, the
Exchange Act, state securities or blue sky Laws, the Hart-Scott-Rodino
Antitrust Improvements Act of 1976, as amended (the &#147;<u>HSR Act</u>&#148;), the New
York Stock Exchange (the &#147;<u>NYSE</u>&#148;), any Gaming Authority, in connection
with any liquor licenses held by the Company or any of its subsidiaries, such
filings, permits, authorizations, consents and approvals relating or applicable
to Parent or any of its subsidiaries and not the Company or any of its
subsidiaries, the filing and recordation of the Certificate of Merger as</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">required by the DGCL or as
otherwise set forth in Sections 3.7(a) or (b) of the Company Disclosure
Schedule, no filing with or notice to, and no permit, authorization, consent or
approval of, any court or tribunal or administrative, legislative, governmental
or regulatory body, agency or authority, including any Gaming Authority (a &#147;<u>Governmental
Entity</u>&#148;), is necessary for the execution and delivery by the Company of
this Agreement or the consummation by the Company of the transactions
contemplated hereby, except where the failure to obtain such permits,
authorizations, consents or approvals or to make such filings or give such
notice would not and would not reasonably be expected to, individually or in
the aggregate, (i) materially impair, materially delay or prevent the
performance of this Agreement or the Merger or (ii) materially impair the
ability of the Surviving Corporation and its subsidiaries to conduct their
respective businesses in a substantially similar manner as conducted by the
Company and the Company&#146;s subsidiaries prior to the Effective Time.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Neither
the execution, delivery and performance of this Agreement by the Company nor
the consummation by the Company of the transactions contemplated hereby will
(i) conflict with or result in any breach of any provision of the respective
certificate or articles of incorporation or bylaws (or similar governing
documents) of the Company or any of its subsidiaries, (ii) result in a
violation or breach of, or constitute (with or without due notice or lapse of
time or both) a default (or give rise to any right of termination, amendment,
cancellation or acceleration or Lien (other than Permitted Exceptions)) under,
any of the terms, conditions or provisions of any note, bond, mortgage,
indenture, lease, license, contract, agreement or other instrument or
obligation (collectively, &#147;<u>Contracts</u>&#148;) to which the Company or any of
its subsidiaries is a party or by which any of them or any of their respective
properties or assets may be bound, or (iii) assuming compliance with the
matters referred to in Section 3.7(a), violate any Law (including any Gaming
Law) applicable to the Company or any of its subsidiaries or any of their
respective properties or assets or any Company Permit (as defined herein),
except in the case of (ii) or (iii) for violations, breaches or defaults which
do not or would not reasonably be expected to have, individually or in the
aggregate, a Company Material Adverse Effect.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:windowtext;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="font-size:10.0pt;">Section 3.8&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><u>Property</u>.</p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Section
3.8(a) of the Company Disclosure Schedule sets forth all of the material real property
owned in fee by the Company and its subsidiaries.&#160; Each of the Company and its subsidiaries has
good and marketable title to each parcel of real property owned by it, free and
clear of all Liens, other than Permitted Exceptions.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Section
3.8(b) of the Company Disclosure Schedule sets forth all material leases,
subleases and other agreements (the &#147;<u>Real Property Leases</u>&#148;) under which
the Company or any of its subsidiaries uses or occupies or has the right to use
or occupy, now or in the future, any real property.&#160; Except as would not be reasonably expected to
have a Company Material Adverse Effect, each Real Property Lease constitutes
the valid and legally binding obligation of the Company or its subsidiary that
is a party thereto, as the case may be, enforceable in accordance with its
terms (except as enforceability may be limited by applicable bankruptcy,
insolvency, reorganization,</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">moratorium, fraudulent transfer
and similar Laws of general applicability relating to or affecting creditors&#146;
rights or by general equity principles) and is in full force and effect.&#160; Except as would not be reasonably expected to
have a Company Material Adverse Effect, all rents and other sums and charges
payable by the Company and its subsidiaries as tenants under the Real Property
Leases are materially current and no termination event or condition or uncured
default of a material nature on the part of the Company or any such subsidiary
or, to the Company&#146;s knowledge, the landlord, exists under any Real Property
Lease.&#160; Each of the Company and its
subsidiaries has a good and valid leasehold interest in each parcel of material
real property leased by it, free and clear of all Liens, other than Permitted
Exceptions.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; No
party to any Real Property Lease has refused to grant a material consent
thereunder within the twelve (12) months prior to the date of this
Agreement.&#160; No party to any Real Property
Lease has given written notice to the Company or any of its subsidiaries of, or
made a claim against the Company or any of its subsidiaries with respect to,
any breach or default thereunder, in any such case in which such breach or
default does or would reasonably be expected to have, individually or in the
aggregate, a Company Material Adverse Effect.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The
Company and each of its subsidiaries have good and valid title to each
riverboat gaming property owned by it, free and clear of all Liens, other than
Permitted Exceptions.&#160; This paragraph (d)
does not relate to real property or interests in real property, such items
being the subject of paragraphs (a), (b) and (c) of this Section 3.8.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:windowtext;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="font-size:10.0pt;">Section 3.9&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><u>Litigation</u>.&#160; Except as disclosed in any of the Company SEC
Reports filed after January 1, 2004 but prior to the date of this Agreement,
there is no claim, action, proceeding or, to the Company&#146;s knowledge,
investigation (collectively, &#147;<u>Claim</u>&#148;) pending or, to the Company&#146;s
knowledge, threatened against the Company or any of its subsidiaries or any of
their respective properties or assets, including by or before any Governmental
Entity, which (a) does or would reasonably be expected to have, individually or
in the aggregate, a Company Material Adverse Effect or (b) as of the date
hereof, questions the validity of this Agreement or any action to be taken by
the Company in connection with the consummation of the transactions
contemplated hereby or could otherwise prevent or delay the consummation of the
transactions contemplated by this Agreement.&#160;
Except as disclosed in any of the Company SEC Reports filed after
January 1, 2004 but prior to the date of this Agreement, none of the Company or
its subsidiaries is subject to any outstanding order, writ, injunction or
decree which does or would reasonably be expected to have, individually or in
the aggregate, a Company Material Adverse Effect.</p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:windowtext;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="font-size:10.0pt;">Section 3.10&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><u>Compliance
with Applicable Law</u>.&#160; The Company and
its subsidiaries hold all permits, licenses, variances, exemptions, orders and
approvals of all Governmental Entities necessary for the lawful conduct of
their respective businesses (the &#147;<u>Company Permits</u>&#148;), except for failures
to hold such permits, licenses, variances, exemptions, orders and approvals
which do not or would not reasonably be expected to have, individually or in
the aggregate, a Company Material Adverse Effect.&#160; The</p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">11</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Company and its subsidiaries
and each of their respective &#147;key persons&#148; (as defined under applicable Gaming
Law) are in compliance with the terms of the Company Permits, except where the
failure to so comply does not or would not reasonably be expected to have,
individually or in the aggregate, a Company Material Adverse Effect.&#160; The businesses of the Company and its subsidiaries
are not being conducted in violation of any foreign or domestic law, order,
writ, injunction, decree, ordinance, award, stipulation, statute, compact with
any tribe, judicial or administrative doctrine, rule or regulation entered by a
Governmental Entity including any Gaming Law (&#147;<u>Law</u>&#148;) applicable to the
Company or its subsidiaries, except for violations or possible violations which
do not and would not reasonably be expected to have, individually or in the
aggregate, a Company Material Adverse Effect.&#160;
To the Company&#146;s knowledge, no investigation or review by any
Governmental Entity with respect to the Company or its subsidiaries is pending
or threatened, nor, to the Company&#146;s knowledge, has any Governmental Entity
indicated an intention to conduct the same, other than, in each case, those which
do not or would not reasonably be expected to have, individually or in the
aggregate, a Company Material Adverse Effect.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:windowtext;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="font-size:10.0pt;">Section 3.11&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><u>Employee
Plans</u>.</p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Section
3.11(a) of the Company Disclosure Schedule sets forth a true and complete list,
as of the date hereof, of all material &#147;employee benefit plans,&#148; as defined in
Section 3(3) of the Employment Retirement Income Security Act of 1974, as
amended (&#147;<u>ERISA</u>&#148;), all material employment, severance, individual
consulting, individual compensation or similar agreements, and all material
bonus, profit sharing or other incentive compensation, executive compensation,
stock option or other stock-related rights, deferred compensation, stock
purchase, vacation pay, salary continuation, hospitalization, medical or other
health benefits, life insurance or other insurance coverage, workers&#146;
compensation, supplemental unemployment benefits, retirement benefit, retiree
welfare benefit coverage, scholarship or other educational assistance, or
similar agreements (in each case, whether written or unwritten) for which the
Company or any ERISA Affiliate has any obligation or liability (contingent or
otherwise) with respect to any current or former employee or current or former
director of the Company or any of its subsidiaries (each an &#147;<u>Employee
Benefit Plan</u>&#148; and collectively, the &#147;<u>Employee Benefit Plans</u>&#148;).&#160; For purposes of this Agreement, &#147;<u>ERISA
Affiliate</u>&#148; means any person that, together with the Company, would be
treated as a single employer under Section 414 of the Code or Section 4001 of
ERISA and any general partnership of which the Company is or has been a general
partner.&#160; None of the Employee Benefit
Plans is a multiemployer plan, as defined in Section 3(37) of ERISA (&#147;<u>Multiemployer
Plan</u>&#148;), or is or has been subject to Sections 4063 or 4064 of ERISA (&#147;<u>Multiple
Employer Plans</u>&#148;), and neither the Company nor any ERISA Affiliate
contributes to or has any liability under any Multiemployer Plan.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; True,
correct and complete copies of the following documents, to the extent such
documents are applicable with respect to each of the Employee Benefit Plans
(other than a Multiemployer Plan) have been made available or delivered to
Parent by the Company: (i) any plans and related trust documents, and
amendments thereto; (ii) the most recent Forms 5500 and schedules thereto;
(iii) the most</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">12</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">recent Internal Revenue Service
(&#147;<u>IRS</u>&#148;) determination letter; (iv) the most recent financial statements
and actuarial valuations prepared for such Employee Benefit Plans, if
applicable; and (v) the most recent summary plan descriptions.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; To
the knowledge of the Company, except as would not be reasonably likely,
individually or in the aggregate, to have a Company Material Adverse Effect:
(i) all material payments required to be made by or under any Employee Benefit
Plan, any related trusts, or any collective bargaining agreement or pursuant to
Law have been made by the due date thereof (including any valid extension);
(ii) the Company and its ERISA Affiliates have timely performed in all material
respects all obligations required to be performed by them under any Employee
Benefit Plan; (iii) the Employee Benefit Plans have been administered in
compliance with their terms and the requirements of ERISA, the Code and other
applicable Laws; (iv) there are no actions, suits, arbitrations or claims
(other than routine claims for benefit) pending or, to the Company&#146;s knowledge,
threatened with respect to any Employee Benefit Plan; and (v) the Company and
its ERISA Affiliates have no liability as a result of any &#147;prohibited
transaction&#148; (as defined in Section 406 of ERISA and Section 4975 of the Code)
for any excise Tax or civil penalty.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; None
of the Employee Benefit Plans is subject to Title IV of ERISA.&#160; Neither the Company nor any ERISA Affiliate
has any liability under Title IV of ERISA. Neither the Company nor any ERISA
Affiliate or any organization to which the Company or any ERISA Affiliate is a
successor or parent corporation, within the meaning of Section 4069(b) of
ERISA, has engaged in any transaction within the last five (5) years described
in Section 4069 of ERISA.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; To
the knowledge of the Company, each of the Employee Benefit Plans which is
intended to be &#147;qualified&#148; within the meaning of Section 401(a) of the Code has
been determined by the IRS to be so &#147;qualified&#148; and the trusts maintained
pursuant thereto are exempt from federal income taxation under Section 501 of
the Code, and the Company knows of no fact which would adversely affect the
qualified status of any such Employee Benefit Plan or the exemption of such
trust in each case, in a manner that would be reasonably likely to have,
individually or in the aggregate, a Company Material Adverse Effect.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(f)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Except
as required by other applicable Law, none of the Employee Benefit Plans
provides for continuing retiree health, retiree medical or retiree life
insurance coverage for any participant or any beneficiary of a participant.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(g)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; No
stock or other security issued by the Company forms or has formed a material
part of the assets of any Employee Benefit Plan. There are no outstanding
restricted shares issued by the Company.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(h)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Except
as contemplated by this Agreement, neither the execution and delivery of this
Agreement nor the consummation of the transactions contemplated hereby will by
itself or in combination with any other event: (i) result in any bonus,
retirement, severance or other payment becoming due, or increase the amount</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">13</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">of compensation due, to any
current or former employee of the Company or any of its subsidiaries; (ii)
increase any benefits otherwise payable under any Employee Benefit Plan; (iii)
result in the acceleration of the time of payment or vesting of any such
material benefits; or (iv) result in any job security or similar benefit or
increased such benefit.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Other
than de minimis amounts, there would be no amounts payable under any contract,
plan or arrangement (written or otherwise) covering any employee or former
employee of the Company or any of its ERISA Affiliates that would not be
deductible pursuant to the terms of Sections 162(m) or 280G of the Code.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(j)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The
Company and its ERISA Affiliates do not maintain, sponsor or have any liability
(contingent or otherwise) with respect to any Employee Benefit Plan outside the
United States.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 3.12&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Labor
Matters.</u></font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Section
3.12(a) of the Company Disclosure Schedule sets forth a list of all labor or
collective bargaining agreements to which the Company or any subsidiary is
party, and except as set forth therein, there are no other labor or collective
bargaining agreements which pertain to employees of the Company or any of its
subsidiaries.&#160; The Company has made
available or delivered to Parent true and complete copies of the labor or
collective bargaining agreements listed in Section 3.12 of the Company
Disclosure Schedule, together with all amendments, modifications, supplements
and side letters affecting the duties, rights and obligations of any party
thereunder.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; To
the Company&#146;s knowledge as of the date hereof, (i) no employees of the Company
or any of its subsidiaries are represented by any labor organization; (ii) no
labor organization or group of employees of the Company or any of its subsidiaries
has made a pending demand for recognition or certification; (iii) there are no
representation or certification proceedings or petitions seeking a
representation proceeding presently pending or threatened in writing to be
brought or filed with the National Labor Relations Board or any other labor
relations tribunal or authority; and (iv) there are no organizing activities
involving the Company or any of its subsidiaries pending with any labor
organization or group of employees of the Company or any of its subsidiaries.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; There
are no unfair labor practice charges alleging any violation of Section 8 of the
National Labor Relations Act, as amended, 29 U.S.C. Section 158, pending or
threatened in writing by or on behalf of any employee or group of employees of
the Company or any of its subsidiaries that, individually or in the aggregate,
would reasonably be expected to have a Company Material Adverse Effect.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; There
are no complaints, charges or claims against the Company or any of its
subsidiaries pending, or threatened in writing to be brought or filed, with any
Governmental Entity or arbitrator based on, arising out of, in connection with,
or otherwise relating to the employment or termination of employment of any</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">14</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">individual by the Company or
any of its subsidiaries other than any such complaints, charges or claims which
are not or would not reasonably be expected to have, individually or in the
aggregate, a Company Material Adverse Effect.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The
Company and each of its subsidiaries is in compliance with all Laws relating to
the employment of labor, including all such Laws and orders relating to wages,
hours, collective bargaining, discrimination, civil rights, safety and health
workers&#146; compensation and the collection and payment of withholding and/or
Social Security Taxes and similar Taxes other than any non-compliance which
does not or would not reasonably be expected to have, individually or in the
aggregate, a Company Material Adverse Effect.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 3.13&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Environmental
Matters.&#160; </u></font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; For
purposes of this Section 3.13, &#147;<u>Environmental Law</u>&#148; means any applicable
federal, state, local or foreign Law (including common Law), statute, code,
rule, regulation, ordinance, or other legal requirement relating to the
protection of occupational health or safety or the environment, including
natural resources and the protection thereof.&#160;
For purposes of this Section 3.13, &#147;<u>Hazardous Materials</u>&#148; means
any chemicals, materials, substances or wastes in any amount or concentration
which are defined as or included in the definition of &#147;hazardous substances,&#148; &#147;hazardous
materials,&#148; &#147;hazardous wastes,&#148; &#147;extremely hazardous wastes,&#148; &#147;restricted
hazardous wastes,&#148; &#147;toxic substances,&#148; &#147;toxic pollutants,&#148; &#147;pollutants,&#148; &#147;regulated
substances&#148; or &#147;contaminants&#148; or words of similar import, under any
Environmental Law, including petroleum, petroleum hydrocarbons or petroleum
products, petroleum by-products, radioactive materials, asbestos or
asbestos-containing materials, gasoline, diesel fuel, pesticides, radon, urea
formaldehyde, lead or lead-containing materials, or polychlorinated
biphenyls.&#160; For purposes of this Section
3.13, &#147;<u>Release</u>&#148; means any spilling, leaking, pumping, pouring, emitting,
emptying, discharging, injecting, escaping, leaching, dumping, disposing or
migration of a Hazardous Material into the environment (including, without
limitation, ambient air, surface water, groundwater, land surface or subsurface
strata).</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (i)
The Company and its subsidiaries have obtained and will, as of the Closing,
possess all permits, authorizations, consents and approvals required by
Environmental Laws for the continued operation of their respective businesses
(collectively, &#147;<u>Environmental Permits</u>&#148;), except where the failure to
obtain or possess such Environmental Permits would not reasonably be expected
to have a Company Material Adverse Effect; (ii) the operations of the Company
and its subsidiaries have been and are in compliance with all Environmental
Laws and Environmental Permits, except for noncompliance that would not
reasonably be expected to have a Company Material Adverse Effect; (iii) there
are no Claims pending or, to the knowledge of the Company, threatened against
the Company or any of its subsidiaries alleging the violation of or
non-compliance with Environmental Laws, except for Claims which if adversely
decided would not reasonably be expected to have a Company Material Adverse
Effect; (iv) no Releases of Hazardous Materials have occurred at, from, in, to,
on, or under any property currently or formerly owned, operated or leased by
the Company</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">15</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">or any of its subsidiaries at
levels that would reasonably be expected to have a Company Material Adverse
Effect; (v) except as would not reasonably be expected to result in a Company
Material Adverse Effect, there are no underground storage tanks, active or
abandoned or operated or leased by the Company or any of its subsidiaries; (vi)
there are no polychlorinated biphenyl-containing equipment or fixtures
(excluding lighting fixtures) owned by the Company or any of its subsidiaries,
or friable asbestos-containing material at any property currently owned, the
presence of which would reasonably be expected to have a Company Material
Adverse Effect; (vii) neither the Company nor any of its subsidiaries has
transported or arranged for the treatment, storage, handling or disposal of any
Hazardous Material to any off-site location that has or could result in a Claim
under or relating to any Environmental Law against the Company or any of its
subsidiaries, except for Claims which, if adversely decided, would not
reasonably be expected to have a Company Material Adverse Effect; and (viii) no
facts, circumstances or conditions exist, including without limitation the
presence of Hazardous Materials at, in, on or migrating to or from any property
currently or formerly owned, operated or leased by the Company or any of its
subsidiaries, that would reasonably be expected to result in the Company or its
subsidiaries incurring liability under Environmental Laws, which liability
would reasonably be expected to have a Company Material Adverse Effect.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; With
only such exceptions as would not reasonably be expected to have, individually
or in the aggregate, a Company Material Adverse Effect, the Company has
provided or otherwise made available to Parent copies of all environmental
assessments, audits, investigations, analyses, and other such environmental
reports relating to the Company or its subsidiaries or any real property
currently or formerly owned, operated or leased by the Company or its
subsidiaries (&#147;<u>Environmental Reports</u>&#148;) that are in the possession,
custody or control of the Company or its subsidiaries or, to the knowledge of
the Company, their respective agents or their representatives.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 3.14&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Tax
Matters.</u></font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The
Company and each of its subsidiaries, and each affiliated group (within the
meaning of Section 1504 of the Code) of which the Company or any of its
subsidiaries is or has been a member, have timely filed all federal income Tax
Returns (as defined herein) and all other Tax Returns required to be filed by
them, after giving effect to all extensions permitted by applicable Law.&#160; All such Tax Returns are complete and correct
in all material respects.&#160; The Company
and each of its subsidiaries have paid (or the Company has paid on its
subsidiaries&#146; behalf) all material Taxes shown as due on such Tax Returns.&#160; The most recent consolidated financial
statements contained in the Company SEC Reports reflect an adequate reserve for
all Taxes payable by the Company and its subsidiaries for all taxable periods
and portions thereof through the date of such financial statements, other than
for any Taxes the amount or validity of which are being contested or disputed
in good faith.&#160; There are no Liens for
Taxes (other than Taxes not yet due and payable and Permitted Exceptions) upon
any of the assets of the Company or any of its subsidiaries.&#160; For purposes of this Agreement, &#147;<u>Tax</u>&#148;
or &#147;<u>Taxes</u>&#148; shall mean all taxes, charges, fees, imposts, levies or other
assessments, including, without limitation, all net income, gross receipts,
capital, sales, gaming, wagering, admission, use, ad</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">16</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">valorem, value added, transfer,
franchise, profits, inventory, capital stock, license, withholding, payroll,
employment, social security, unemployment, excise, severance, stamp,
occupation, real property and other property and estimated Taxes, customs
duties, fees, assessments and charges of any kind whatsoever, together with any
interest and any penalties, fines, additions to Tax or additional amounts
imposed by any taxing authority (domestic or foreign).&#160; &#147;<u>Tax Returns</u>&#148; shall mean any report,
return, document, declaration or any other information or filing required to be
supplied to any taxing authority or jurisdiction (foreign or domestic) with
respect to Taxes, including, without limitation, information returns, any
document with respect to or accompanying payments or estimated Taxes, or with
respect to or accompanying requests for the extension of time in which to file
any such report, return document, declaration or other information.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; There
are no federal, state, local or foreign audits, actions, suits, proceedings,
investigations, claims or administrative or other proceedings relating to Taxes
or any Tax Returns of the Company or any of its subsidiaries now pending.&#160; To the knowledge of the Company (which, for
purposes of this Section 3.14, shall include the actual knowledge of the
Company&#146;s tax manager), no material deficiencies or claims for any Taxes have
been proposed, asserted or assessed against the Company or any of its
subsidiaries that have not been fully paid or adequately provided for in the appropriate
financial statements of the Company and its subsidiaries, no requests for
waivers of the time to assess any Taxes are pending, and no power of attorney
with respect to any Taxes has been executed or filed with any taxing authority.&#160; No material issues relating to Taxes have
been raised in writing by the relevant taxing authority during any pending
audit or examination or otherwise.&#160;
Neither the Company nor any of its subsidiaries has received a formal
and written opinion of Tax counsel or nationally recognized accounting firm
with respect to any matter for which the amount of Taxes in question exceeds
$250,000 for any taxable period with respect to which the applicable statute of
limitations has not yet expired (taking into account any applicable extensions).</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; None
of the Company or any of its subsidiaries is a party to or is bound by any Tax
sharing agreement, Tax indemnity obligation or similar agreement, arrangement
or practice with respect to Taxes (including any advance pricing agreement, closing
agreement or other agreement relating to Taxes with any taxing authority).</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Since
January 1, 2001, neither the Company nor any of its subsidiaries has
distributed stock of another person, or has had its stock distributed by
another person, in a transaction that was purported or intended to be governed
in whole or in part by Section 355 or 361 of the Code.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 3.15&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Material
Contracts.</u></font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The
Company has heretofore made available to Parent true, correct and complete
copies of all written Contracts (and all material amendments, modifications and
supplements thereto and all side letters to which the Company or any of its
subsidiaries is a party affecting the obligations of any party thereunder) to
which the Company or any of its subsidiaries is a party or by which any of its
properties or</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">17</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">assets are bound that are
either filed (including through incorporation by reference) as an exhibit to
the Annual Report on Form 10-K for the fiscal year ended December 31, 2003 of
the Company, or otherwise that are material to the business, properties or
assets of the Company and its subsidiaries taken as a whole, including, without
limitation, all: (i) material employment, severance, personal services, consulting,
non-competition or indemnification contracts (including, without limitation,
any contract to which the Company or any of its subsidiaries is a party
involving employees of the Company); (ii) material contracts granting a right
of first refusal or first negotiation; (iii) partnership or joint venture
agreements; (iv) agreements for the acquisition, sale or lease of material
properties or assets of the Company or any of its subsidiaries (by merger,
purchase or sale of assets or stock or otherwise) entered into since January 1,
2001; (v) material contracts or agreements with any Governmental Entity; (vi)
material loan or credit agreements, mortgages, indentures or other agreements
or instruments evidencing indebtedness for borrowed money by the Company or any
of its subsidiaries or any such agreement pursuant to which indebtedness for
borrowed money may be incurred; (vii) agreements that purport to materially
limit, curtail or restrict the ability of the Company or any of its
subsidiaries to engage or compete in any geographic area or line of business;
(viii) contracts or agreements with a duration of one year or more which
require payments by the Company and its subsidiaries in excess of $1 million
annually; (ix) contracts or agreements that would be required to be filed as an
exhibit to a Form 10-K filed by the Company with the SEC on the date hereof;
and (x) commitments and agreements to enter into any of the foregoing
(collectively, the &#147;<u>Material Contracts</u>&#148;).</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Except
as would not reasonably be expected to have a Company Material Adverse Effect,
each of the Material Contracts constitutes the valid and legally binding
obligation of the Company or its subsidiaries, enforceable in accordance with
its terms (except as enforceability may be limited by applicable bankruptcy,
insolvency, reorganization, moratorium, fraudulent transfer and similar Laws of
general applicability relating to or affecting creditors&#146; rights or by general
equity principles).&#160; There is no default
under any Material Contract so listed either by the Company or, to the Company&#146;s
knowledge, by any other party thereto, and no event has occurred that with the
lapse of time or the giving of notice or both would constitute a default
thereunder by the Company or, to the Company&#146;s knowledge, any other party, in
any such case in which such default or event does or would reasonably be
expected to have, individually or in the aggregate, a Company Material Adverse
Effect.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:windowtext;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="font-size:10.0pt;">Section 3.16&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><font style="color:windowtext;text-decoration:none;"><u><font color="black">I</font></u></font><u>ntellectual Property</u>.</p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; For
purposes of this Agreement, &#147;<u>Intellectual Property</u>&#148; means all (i)
trademarks, trademark rights, trade names, trade name rights, trade dress and
other indications of origin, corporate names, brand names, logos, certification
rights, and service marks, including all goodwill associated with all of the
foregoing, and all applications, registrations and renewals in connection with
all of the foregoing, in any jurisdiction; (ii) inventions (whether patentable
or unpatentable and whether or not reduced to practice), and all patents,
patent rights, applications for patents (including, without limitation,
divisions, continuations, continuations-in-part and renewal applications), and
any renewals, extensions or reissues thereof, in any jurisdiction; (iii)</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">18</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">trade secrets, know-how,
confidential information, and other proprietary rights and information; (iv)
copyrights and works of authorship, whether copyrightable or not, and all
applications, registrations and renewals in connection therewith, in any
jurisdiction; (v) mask works and all applications, registrations and renewals
in connection therewith, in any jurisdiction; (vi) Internet domain names; (vii)
databases; and (viii) other similar intellectual property.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The
Company and its subsidiaries own or possess adequate licenses or other valid
rights to use (in each case, free and clear of any Liens (other than Permitted
Exceptions)) all material Intellectual Property used in connection with the
business of the Company and its subsidiaries as currently conducted other than
as would not be reasonably expected to have, individually or on the aggregate,
a Company Material Adverse Effect.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; To
the Company&#146;s knowledge, the use by the Company of any Intellectual Property
owned by the Company and its subsidiaries does not infringe upon or otherwise
violate the rights of any person other than as would not reasonably be expected
to have, individually or in the aggregate, a Company Material Adverse Effect.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The
use by the Company of any Intellectual Property owned by any other person is in
accordance with any applicable license granted by such person (or any person
authorized by such person) pursuant to which the Company or any of its
subsidiaries acquired the right to use such Intellectual Property other than as
would not reasonably be expected to have, individually or in the aggregate, a
Company Material Adverse Effect.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; To
the Company&#146;s knowledge, no person is challenging, infringing upon or otherwise
violating any right of the Company or any of its subsidiaries with respect to,
and neither the Company nor any of its subsidiaries has made any material claim
of a violation or infringement by others of, any Intellectual Property owned by
and/or licensed to the Company or its subsidiaries other than as would not
reasonably be expected to have, individually or in the aggregate, a Company
Material Adverse Effect.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(f)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Neither
the Company nor any of its subsidiaries has received any written notice of any
assertion or claim, pending or not, with respect to any Intellectual Property
used by the Company or its subsidiaries other than as would not reasonably be
expected to have, individually or in the aggregate, a Company Material Adverse
Effect.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(g)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; To
the Company&#146;s knowledge, no Intellectual Property owned by and/or licensed to
the Company or its subsidiaries is being used or enforced in a manner that
would result in the abandonment, cancellation or unenforceability of such
Intellectual Property other than as would not reasonably be expected to have,
individually or in the aggregate, a Company Material Adverse Effect.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">19</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:windowtext;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="font-size:10.0pt;">Section 3.17&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><font style="color:windowtext;text-decoration:none;"><u><font color="black">O</font></u></font><u>pinion of Financial
Advisor</u>.&#160; Morgan Stanley &amp; Co.
Incorporated (the &#147;<u>Company Financial Advisor</u>&#148;) has delivered to the
Company Board its opinion, dated the date of this Agreement, to the effect
that, as of such date, the Merger Consideration is fair to the holders of
Shares from a financial point of view.</p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:windowtext;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="font-size:10.0pt;">Section 3.18&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><font style="color:windowtext;text-decoration:none;"><u><font color="black">B</font></u></font><u>rokers</u>.&#160; No broker, finder or investment banker (other
than the Company Financial Advisor) is entitled to any brokerage, finder&#146;s or
other fee or commission or expense reimbursement in connection with the
transactions contemplated by this Agreement based upon arrangements made by and
on behalf of the Company or any of its affiliates.</p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:windowtext;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="font-size:10.0pt;">Section 3.19&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><font style="color:windowtext;text-decoration:none;"><u><font color="black">T</font></u></font><u>akeover Statutes</u>.&#160; The Company has taken all action required to
be taken by it in order to exempt this Agreement and the transactions
contemplated hereby from, and this Agreement and the transactions contemplated
hereby (the &#147;<u>Covered Transactions</u>&#148;) are exempt from, the requirements of
any &#147;moratorium,&#148; &#147;control share,&#148; &#147;fair price,&#148; &#147;affiliate transaction,&#148; &#147;business
combination&#148; or other antitakeover Laws and regulations of any state
(collectively, &#147;<u>Takeover Statutes</u>&#148;), including, without limitation,
Section 203 of the DGCL, or any antitakeover provision in the Company&#146;s
certificate of incorporation and bylaws.</p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:windowtext;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="font-size:10.0pt;">Section 3.20&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><font style="color:windowtext;text-decoration:none;"><u><font color="black">Nonco</font></u></font><u>mpetition
Agreements</u>.&#160; To the knowledge of the
Company, none of the Company&#146;s officers or key employees is a party to any
agreement that restricts such officer or key employee from acting as an officer
or employee of an entity engaged in any business engaged in by the Company or
any of its subsidiaries, except for those restrictions which do not or would
not reasonably be expected to have, individually or in the aggregate, a Company
Material Adverse Effect.</p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE IV</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">REPRESENTATIONS AND WARRANTIES OF PARENT AND MERGER SUB</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Except as set
forth in (a) the Parent SEC Reports filed prior to the date hereof or (b) the
disclosure schedule delivered by Parent to the Company prior to the execution
of this Agreement (the &#147;<u>Parent Disclosure Schedule</u>&#148;) (each section of
which qualifies the correspondingly numbered representation and warranty or
covenant to the extent specified therein), Parent and Merger Sub hereby
represent and warrant to the Company as follows:</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:windowtext;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="font-size:10.0pt;">Section 4.1&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><u>Organization</u>.</p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Parent
and each of its subsidiaries is a corporation or legal entity duly organized,
validly existing and in good standing under the Laws of the jurisdiction of its
organization and has all requisite corporate, partnership or similar power and
authority to own, lease and operate its properties and to carry on its business
as now conducted or proposed by Parent to be conducted.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Each
of Parent and its subsidiaries is duly qualified or licensed and in good
standing to do business in each jurisdiction in which the property</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">owned, leased or operated by it
or the nature of the business conducted by it makes such qualification or
licensing necessary, except where the failure to be so duly qualified or
licensed and in good standing does not and would not reasonably be expected to
have, individually or in the aggregate, a Parent Material Adverse Effect.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:windowtext;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="font-size:10.0pt;">Section 4.2&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><u>Authority
Relative to This Agreement</u>.</p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Each
of Parent and Merger Sub has all necessary corporate power and authority to
execute and deliver this Agreement and to consummate the transactions
contemplated hereby.&#160; No other corporate
proceedings on the part of Parent or Merger Sub are necessary to authorize this
Agreement or to consummate the transactions contemplated hereby.&#160; This Agreement has been duly and validly
executed and delivered by each of Parent and Merger Sub and, assuming the due
and valid authorization, execution and delivery hereof by the Company,
constitutes a valid, legal and binding agreement of each of Parent and Merger
Sub, enforceable against each of Parent and Merger Sub in accordance with its
terms, subject to applicable bankruptcy, insolvency, moratorium, reorganization
or similar Laws affecting creditors&#146; rights generally and general principles of
equity.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The
Boards of Directors of Parent (the &#147;<u>Parent Board</u>&#148;) and Merger Sub and
Parent as the sole stockholder of Merger Sub have duly and validly authorized
the execution and delivery of this Agreement and approved the consummation of
the transactions contemplated hereby.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:windowtext;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="font-size:10.0pt;">Section 4.3&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><u>Consents
and Approvals; No Violations</u>.&#160; Except
for such filings, permits, authorizations, consents and approvals as may be
required by or under, and other applicable requirements of, the Act, the
Exchange Act, state securities or blue sky Laws, the HSR Act, the Nasdaq Stock
Market, Inc. (&#147;<u>Nasdaq</u>&#148;), any Gaming Authority, such filings, permits,
authorization, consents and approvals relating or applicable to the Company or
any of its subsidiaries and not Parent or any of its subsidiaries, the filing
and recordation of the Certificate of Merger as required by the DGCL, no filing
with or notice to, and no permit, authorization, consent or approval of, any
Governmental Entity is necessary for the execution and delivery by Parent or
Merger Sub of this Agreement or the consummation by Parent or Merger Sub of the
transactions contemplated hereby, except where the failure to obtain such
permits, authorizations, consents or approvals or to make such filings or give
such notice would not and would not reasonably be expected to, individually or
in the aggregate, materially impair, materially delay or prevent the
performance of this Agreement or the Merger.&#160;
Neither the execution, delivery and performance of this Agreement by
Parent or Merger Sub nor the consummation by Parent or Merger Sub of the
transactions contemplated hereby will (i) conflict with or result in any breach
of any provision of the respective articles of incorporation or bylaws (or
similar governing documents) of Parent or Merger Sub or any of Parent&#146;s
subsidiaries, (ii) result in a violation or breach of, or constitute (with or
without due notice or lapse of time or both) a default (or give rise to any
right of termination, amendment, cancellation or acceleration or Lien (other
than Permitted Exceptions)) under, any of the terms, conditions or provisions
of any Contract to which Parent or Merger Sub or any of Parent&#146;s subsidiaries
is a party or by which any of them or</p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">21</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">any of their respective
properties or assets may be bound, or (iii) violate any Law (including any
Gaming Law) applicable to Parent or Merger Sub or any of Parent&#146;s subsidiaries
or any of their respective properties or assets, except in the case of (ii) or
(iii) for violations, breaches or defaults which do not or would not reasonably
be expected to have, individually or in the aggregate, a Parent Material
Adverse Effect.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:windowtext;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="font-size:10.0pt;">Section 4.4&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><u>SEC
Reports; Financial Statements</u>.&#160;
Parent and each of its subsidiaries that files forms, reports and
documents with the SEC have filed all required forms, statements, reports and
documents with the SEC since the later of January 1, 2003 or the date on which
any such filing obligation arose (each, a &#147;<u>Parent SEC Report</u>&#148; and
collectively, the &#147;<u>Parent SEC Reports</u>&#148;), each of which has complied in
all material respects with all applicable requirements of the Act, the Exchange
Act, or both, as the case may be, each as in effect on the dates such Parent
SEC Reports were filed.&#160; Except as and to
the extent amended, modified, restated or revised in any subsequent Parent SEC
Report filed prior to the date of this Agreement, none of the Parent SEC
Reports, including any financial statements or schedules included or
incorporated by reference therein, contained, when filed, any untrue statement
of a material fact or omitted to state a material fact required to be stated or
incorporated by reference therein or necessary in order to make the statements
therein, in light of the circumstances under which they were made, not
misleading.&#160; The financial statements of
Parent and its subsidiaries, including all related notes and schedules,
contained in the Parent SEC Reports complied as to form in all material
respects with applicable accounting requirements and the published rules and
regulations of the SEC with respect thereto, have been prepared in accordance
with GAAP applied on a consistent basis during the periods involved (except as
may be indicated in the notes thereto), and fairly present (on a consolidated
basis, if applicable) (i) the financial position of Parent or its subsidiary providing
the financial statements, as applicable, as of the dates thereof, and (ii) its
results of operations, cash flows and changes in stockholders&#146; equity for the
periods then ended (subject, in the case of the unaudited interim financial
statements, to normal year-end adjustments).&#160;
Since the Audit Date, there has not been any material change, or any
application or request for any material change, by Parent or any of its
subsidiaries, in accounting principles, methods or policies for financial
accounting or Tax purposes (subject, in the case of the unaudited interim
financial statements, to normal year-end adjustments).</p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:windowtext;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="font-size:10.0pt;">Section 4.5&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><u>Litigation</u>.&#160; Except as disclosed in any of the Parent SEC
Reports filed after January 1, 2004 but prior to the date of this Agreement,
there is no Claim pending or, to Parent&#146;s knowledge, threatened against Parent
or any of its subsidiaries or any of their respective properties or assets,
including by or before any Governmental Entity, which (a) does or would
reasonably be expected to have, individually or in the aggregate, a Parent
Material Adverse Effect or (b) as of the date hereof, questions the validity of
this Agreement or any action to be taken by the Company in connection with the
consummation of the transactions contemplated hereby or could otherwise prevent
or delay the consummation of the transactions contemplated by this Agreement.</p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">22</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:windowtext;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="font-size:10.0pt;">Section 4.6&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><u>Compliance
with Applicable Law</u>.&#160; Parent and its
subsidiaries hold all permits, licenses, variances, exemptions, orders and
approvals of all Governmental Entities necessary for the lawful conduct of
their respective businesses (the &#147;<u>Parent Permits</u>&#148;), except for failures
to hold such permits, licenses, variances, exemptions, orders and approvals
which do not or would not reasonably be expected to have, individually or in
the aggregate, a Parent Material Adverse Effect.&#160; Parent and its subsidiaries and each of their
respective &#147;key persons&#148; (as defined under applicable Gaming Law) are in
compliance with the terms of the Parent Permits, except where the failure to so
comply does not or would not reasonably be expected to have, individually or in
the aggregate, a Parent Material Adverse Effect.&#160; The businesses of Parent and its subsidiaries
are not being conducted in violation of any Law applicable to Parent or its
subsidiaries, except for violations or possible violations which do not and
would not reasonably be expected to have, individually or in the aggregate, a
Parent Material Adverse Effect.&#160; To
Parent&#146;s knowledge, no investigation or review by any Governmental Entity with
respect to Parent or its subsidiaries is pending or threatened, nor, to Parent&#146;s
knowledge, has any Governmental Entity indicated an intention to conduct the
same, other than, in each case, those which Parent reasonably believes do not
or would not reasonably be expected to have, individually or in the aggregate,
a Parent Material Adverse Effect.</p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:windowtext;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="font-size:10.0pt;">Section 4.7&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><u>Brokers</u>.&#160; No broker, finder or investment banker (other
than Bear, Stearns &amp; Co. Inc. and Goldman, Sachs &amp; Co.) is entitled to
any brokerage, finder&#146;s or other advisory fee or commission in connection with
the transactions contemplated by this Agreement based upon arrangements made by
and on behalf of Parent or Merger Sub or any of their affiliates.</p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:windowtext;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="font-size:10.0pt;">Section 4.8&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><u>Financing</u>.&#160; Parent has obtained a written commitment (the
&#147;<u>Commitment Letter</u>&#148;) from Deutsche Bank Trust Company Americas, Deutsche
Bank Securities, Inc., Goldman Sachs Credit Partners L.P., Lehman Brothers Inc.
and Lehman Commercial Paper Inc. (collectively, the &#147;<u>Financing Sources</u>&#148;)
to provide financing in connection with the Merger and the other transactions
contemplated by this Agreement, a true and correct copy of which has been
provided by Parent to the Company.&#160; As of
the date of this Agreement, the Commitment Letter has not been amended and is
in full force and effect.&#160; As of the date
of this Agreement and other than as may be deemed to exist as a result of
Parent&#146;s rights set forth in Section 6.17(b), Parent does not know of any facts
that would reasonably be expected to, individually or in the aggregate,
materially impair, materially delay or prevent the consummation of the
financing contemplated by the Commitment Letter or that would cause the funds
to be provided by the Financing Sources under the Commitment Letter to be
insufficient to fund Parent&#146;s and Merger Sub&#146;s obligations under this Agreement
or as otherwise required or contemplated by or under the Commitment Letter.</p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">23</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE V</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">COVENANTS RELATED TO CONDUCT OF BUSINESS</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:windowtext;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="font-size:10.0pt;">Section 5.1&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><u>Conduct
of Business of the Company</u>.&#160; Except
as contemplated by this Agreement or Section 5.1 of the Company Disclosure
Schedule, or to the extent prohibited or required by any Gaming Authority or to
the extent a prior approval of a Gaming Authority is required to agree to the
undertaking, during the period from the date hereof to the Effective Time, the
Company will use reasonable best efforts and will cause each of its
subsidiaries to use reasonable best efforts to conduct its business in the
ordinary course of business consistent with past practice (including with
respect to its capital maintenance programs) and, to the extent consistent
therewith, with no less diligence and effort than would be applied in the
absence of this Agreement, seek to preserve intact the current business
organizations of the Company and each of its subsidiaries, keep available the
service of the current officers and employees of the Company and each of its
subsidiaries and preserve the Company&#146;s and its subsidiaries&#146; relationships
with customers, suppliers and all others having business dealings with the
Company or any of its subsidiaries.&#160;
Without limiting the generality of the foregoing, and except as
otherwise expressly provided in this Agreement or in Section 5.1 of the Company
Disclosure Schedule, prior to the Effective Time, neither the Company nor any
of its subsidiaries will, and the Company will not permit any of its
subsidiaries to, without the prior written consent of Parent which consent
shall not be unreasonably withheld or delayed:</p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; adopt
any amendment to the certificate of incorporation or bylaws (or other similar
governing instruments) of the Company or any of its subsidiaries;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; authorize
for issuance, issue, sell, deliver or agree or commit to issue, sell or deliver
(whether through the issuance or granting of options, warrants, commitments,
subscriptions, rights to purchase or otherwise) any stock of any class or any
other securities convertible into or exchangeable for any stock or any equity
equivalents (including, without limitation, any stock options or stock
appreciation rights), except for the issuance or sale of Shares pursuant to
outstanding Company Stock Options;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (i)
split, combine or reclassify any shares of its capital stock; (ii) declare, set
aside or pay any dividend or other distribution (whether in cash, stock or
property or any combination thereof) in respect of its capital stock; (iii)
make any other actual, constructive or deemed distribution in respect of any
shares of its capital stock or otherwise make any payments to stockholders in
their capacity as such; or (iv) redeem, repurchase or otherwise acquire any of
its securities or any securities of any of its subsidiaries;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; adopt
a plan of complete or partial liquidation, dissolution, merger, consolidation,
restructuring, recapitalization or other reorganization of the Company or any
of its subsidiaries (other than the Merger);</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; alter
through merger, liquidation, reorganization, restructuring or in any other
fashion the corporate structure or ownership of the Company or any of its
material subsidiaries (other than through the Merger);</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">24</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(f)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (i)
incur, assume or prepay any long-term or short-term debt or issue any debt
securities, except for borrowings under existing lines of credit, any such
actions taken in the ordinary course of business consistent with past practice,
and the incurrence or increase in obligations among the Company and its direct
or indirect wholly owned subsidiaries; (ii) assume, guarantee, endorse or
otherwise become liable or responsible (whether directly, contingently or
otherwise) for the obligations of any other person, except in the ordinary
course of business consistent with past practice, and except for the incurrence
or increase in obligations among the Company and its direct or indirect wholly
owned subsidiaries; (iii) make any loans, advances or capital contributions to,
or investments in, any other person (other than to the direct or indirect
wholly owned subsidiaries of the Company, or customary loans or advances to
employees in the ordinary course of business consistent with past practice);
(iv) pledge or otherwise encumber shares of capital stock of the Company or its
subsidiaries; or (v) other than in the ordinary course of business, mortgage or
pledge any of its or any of its subsidiaries&#146; material assets, tangible or
intangible, or create or suffer to exist any material Lien thereupon, other
than Permitted Exceptions, and except for the incurrence or increase in
obligations among the Company and its direct or indirect wholly owned
subsidiaries;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(g)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; except
(i) as may be required by Law, (ii) as contemplated by this Agreement, (iii)
for changes in the ordinary course of business consistent with past practice
that, in the aggregate, do not result in a material increase in benefits or
compensation expense of the Company, (iv) as required under existing agreements,
or (v) for the stay bonuses set forth in Section 5.1(g) of the Company
Disclosure Schedule, enter into, adopt or amend or terminate any Employee
Benefit Plan or any other bonus, profit sharing, compensation, severance,
termination, stock option, stock appreciation right, restricted stock,
performance unit, stock equivalent, stock purchase, pension, retirement,
deferred compensation, employment or other employee benefit agreement, trust,
plan, fund, award or other arrangement for the benefit or welfare of any
director, officer or employee in any manner, or increase in any manner the
compensation or fringe benefits of any director, officer or employee or pay any
benefit not required by any plan and arrangement as in effect as of the date
hereof;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(h)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; acquire,
sell, lease, license, transfer, pledge, encumber or dispose of (whether by
merger, consolidation, purchase, sale or otherwise) any assets, including
capital stock of the Company&#146;s subsidiaries, outside the ordinary course of
business consistent with past practice or any assets, including capital stock
of the Company&#146;s subsidiaries, which in the aggregate are material to the
Company and its subsidiaries taken as a whole;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; except
as may be required as a result of a change in Law or in GAAP, change in any
material adverse respect any accounting principles, policies or practices of
the Company or any of its subsidiaries;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(j)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; other
than acquisitions having an aggregate purchase price of not more than $15
million and which do not require approval of a Gaming Authority, acquire (by
merger, consolidation, or acquisition of stock or assets) any corporation,</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">25</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">partnership or other business
organization or division thereof or any equity interest therein;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(k)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; other
than in the ordinary course of business and consistent with past practice, make
or revoke or otherwise modify any Tax election (including any election
pertaining to net operating losses) or settle or compromise any Tax liability,
in each case material to the Company and its subsidiaries taken as a whole, or
change or make a request to any taxing authority to change in any adverse
manner any material aspect of its method of accounting for Tax purposes;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(l)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; pay,
discharge or satisfy any material claims, liabilities or obligations (absolute,
accrued, asserted or unasserted, contingent or otherwise), other than the
payment, discharge or satisfaction in the ordinary course of business
consistent with past practice of liabilities reflected or reserved against in
the consolidated financial statements of the Company and its subsidiaries or
incurred in the ordinary course of business consistent with past practice;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(m)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; terminate
prior to its scheduled termination, cancel or request any material change in,
or agree to any material change in, any Material Contract, or enter into any
Contract that would be a Material Contract if entered into as of the date
hereof, in either case other than in the ordinary course of business consistent
with past practice; or make or agree to make any capital expenditure, other
than capital expenditures that are made in the ordinary course of business
consistent with past practice and that are made substantially in accordance
with the levels (in dollars), categories and timing for capital expenditures
contained in the 2004 capital expenditure budgets provided to Parent and, with
respect to capital expenditures made in 2005, such capital expenditures will be
consistent with the Company&#146;s past practices and operating strategy and will in
no event exceed the amounts set forth in Schedule 5.1(m);</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(n)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; except
as otherwise required by Law, enter into or modify in any material respect any
collective bargaining agreement;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(o)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; enter
into any new agreement or arrangement or amend any existing agreement or
arrangement with any Affiliate of the Company that would be required to be
disclosed pursuant to the Exchange Act or the rules promulgated by the SEC
thereunder; or</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(p)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; take,
propose to take or agree in writing or otherwise to take or authorize to take
any of the actions described in Sections 5.1(a) through 5.1(o).</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:windowtext;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="font-size:10.0pt;">Section 5.2&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><u>Access
to Information</u>.</p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Between
the date hereof and the Effective Time, the Company (i) will give Parent and
Merger Sub and their authorized representatives (including counsel, financial
advisors, accountants, auditors, financing sources and representatives of
financing sources) reasonable access upon reasonable notice during normal
business hours or other mutually agreeable times to all employees, accountants,
auditors, casinos, offices, warehouses and other facilities and to all books
and records of</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">26</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">the Company and its
subsidiaries, (ii) will permit Parent and Merger Sub to make such inspections
as Parent and Merger Sub may reasonably require and (iii) will cause the
Company&#146;s officers and those of its subsidiaries to furnish Parent and Merger
Sub promptly with such financial and operating data and other information with
respect to the business, properties, personnel (including with respect to labor
relations and union organizing activities) or other aspects of the Company and
its subsidiaries as Parent or Merger Sub may from time to time reasonably
request, including in the case of (i), (ii) and (iii), promptly providing such
access, inspections and financial operating data and other information
(including projections) reasonably requested by Parent in connection with its
efforts to consummate the Financing, provided that no investigation pursuant to
this Section 5.2(a) shall affect or be deemed to modify any of the
representations or warranties made in this Agreement, and provided further that
the Company and its subsidiaries may withhold (A) as and to the extent
necessary to avoid contravention or waiver, any document or information the
disclosure of which would violate any Contract or any applicable Law or would
result in the waiver of any legal privilege or work-product privilege or (B)
with notice to counsel to Parent, such portions of documents or information
that its outside counsel advises should not be disclosed in order to ensure
compliance with any Gaming Law or Antitrust Law (as defined herein).</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Between
the date hereof and the Effective Time, the Company shall furnish to Parent and
Merger Sub (i) within the earlier to occur of ten (10) business days after the
delivery thereof to management or twenty-nine (29) days after the end of the
month for which such internal monthly financial statements and data pertain,
such internal monthly financial statements and data as are regularly prepared
by the Company for distribution to the Company&#146;s executive management, and (ii)
at the earliest time they are available, such quarterly and annual financial
statements as are prepared for the Company&#146;s SEC filings, which (in the case of
this clause (ii)) shall be in accordance with the books and records of the
Company.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The
parties shall comply with, and shall cause their respective representatives to
comply with, all of their respective obligations under that certain Confidentiality
Agreement entered into between the Company and Parent dated October 4, 2004
(the &#147;<u>Confidentiality Agreement</u>&#148;) in connection with the information
furnished pursuant to this Agreement; provided that from and after the receipt
of the Company Requisite Vote, the Company waives the provisions of the
Standstill (as defined in the Confidentiality Agreement) to the extent
necessary to permit Parent or any subsidiary of Parent to make purchases (in
the open market, by tender offer or otherwise) of outstanding debt securities
of the Company.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE VI</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ADDITIONAL AGREEMENTS</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:windowtext;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="font-size:10.0pt;">Section 6.1&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><u>Stockholder
Meeting</u>.&#160; Subject to Section 6.6, the
Company shall take all lawful action to (a) cause its annual meeting of
stockholders or a special meeting of its stockholders (the &#147;<u>Company
Stockholder Meeting</u>&#148;) to be duly called and held as soon as practicable
after the date of this Agreement for the purpose of</p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">27</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">voting on the approval and
adoption of this Agreement and (b) solicit proxies from its stockholders to
obtain the Company Requisite Vote for the approval and adoption of this
Agreement.&#160; Subject to Section 6.6, the
Company Board shall recommend approval and adoption by the Company&#146;s
stockholders of this Agreement.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:windowtext;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="font-size:10.0pt;">Section 6.2&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><u>Preparation
of the Proxy Statement</u>.&#160; The Company
will, as expeditiously as practicable after the execution of this Agreement,
but in no event later than fifteen (15) calendar days from the date hereof in
connection with its initial filing, prepare and file with the SEC the proxy
statement and any amendments or supplements thereto relating to the Company
Stockholder Meeting to be held in connection with the Merger (the &#147;<u>Proxy
Statement</u>&#148;).&#160; Parent and Merger Sub
shall cooperate with the Company in the preparation and filing of the Proxy
Statement.&#160; The Company will provide
Parent with a reasonable opportunity to review and comment on the Proxy
Statement prior to filing.&#160; The Company
shall use its best efforts to have the Proxy Statement cleared by the SEC as
promptly thereafter as practicable.&#160; The
Company shall, as expeditiously as practicable after the receipt thereof,
provide to Parent copies of any written comments and advise Parent of any oral
comments with respect to the Proxy Statement received from the staff of the SEC
and (subject to its obligation in the next sentence) to respond to such
comments as expeditiously as practicable.&#160;
The Company will provide Parent with a reasonable opportunity to review
and comment on any amendment or supplement to the Proxy Statement prior to
filing with the SEC and will provide Parent with a copy of all such filings
with the SEC.&#160; The Company will use
its&#160; best efforts to cause the Proxy
Statement to be mailed to its stockholders at the earliest practicable date.</p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:windowtext;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="font-size:10.0pt;">Section 6.3&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><u>Company
Information Supplied</u>.&#160; The Company
covenants that the Proxy Statement will not, at the date mailed to stockholders
of the Company and at the time of the Company Stockholder Meeting, contain any
untrue statement of a material fact or omit to state any material fact required
to be stated therein or necessary in order to make the statements therein, in
light of the circumstances under which they are made, not misleading.&#160; If at any time prior to the Effective Time
any event with respect to the Company, its officers or directors or any of its
subsidiaries should occur which is required to be described in an amendment of,
or a supplement to, the Proxy Statement, the Company shall promptly so advise
Parent and such event shall be so described, and such amendment or supplement
(which Parent shall have a reasonable opportunity to review) shall be promptly
filed with the SEC and, as required by Law, disseminated to the stockholders of
the Company.&#160; The Proxy Statement,
insofar as it relates to the Company Stockholder Meeting, will comply as to
form in all material respects with the provisions of the Exchange Act and the
rules and regulations promulgated thereunder.</p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:windowtext;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="font-size:10.0pt;">Section 6.4&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><u>Parent
and Merger Sub Information Supplied</u>.&#160;
Each of Parent and Merger Sub covenants that none of the information
supplied or to be supplied by Parent or Merger Sub for inclusion in the Proxy
Statement will, at the date mailed to stockholders and at the time of the
Company Stockholder Meeting, contain any untrue statement of a material fact or
omit to state any material fact required to be stated therein or necessary in
order to make the statements therein, in light of the circumstances under</p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">28</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<div>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">which they are made, not
misleading.&#160; If at any time prior to the
Effective Time any event with respect to Parent, its officers or directors or
any of its subsidiaries should occur which is required to be described in an
amendment of, or a supplement to, the Proxy Statement, Parent shall promptly so
advise the Company of such event in sufficient detail to allow the Company to
prepare and file any such amendment or supplement.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 6.5&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Efforts; Cooperation.</u></font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Subject to the terms and conditions
of this Agreement, each party will use its reasonable best efforts to take, or
cause to be taken, all appropriate action, and do, or cause to be done, all
things necessary, proper or advisable under applicable Law or otherwise to
consummate and make effective the Merger and the other transactions
contemplated hereby (including the Financing), including, without limitation,
to (i) obtain from Governmental Entities any consents, licenses, permits,
waivers, approvals, authorizations or orders required to be obtained or made by
Parent or the Company or any of their subsidiaries in connection with the
authorization, execution and delivery of this Agreement and the consummation of
the Merger and the other transactions contemplated hereby (including the
Financing), and (ii) make all necessary filings, and thereafter make any other
submissions either required or deemed appropriate by each of the parties, with
respect to this Agreement and the Merger and the other transactions
contemplated hereby (including the Financing) required under (A) the Act, the
Exchange Act, any other applicable federal or state securities or blue sky
Laws, (B) the HSR Act, (C) the DGCL, (D) any other applicable Law, (E) any
Gaming Laws applicable to such party and (F) the rules and regulations of the
NYSE and/or Nasdaq.&#160; The parties hereto
shall cooperate and consult with each other in connection with the making of
all such filings, including by providing copies of all such documents to the
nonfiling party and its advisors prior to filing, and, except as required by
Law, none of the parties will file any such document if any of the other
parties shall have reasonably objected to the filing of such document.&#160; No party to this Agreement shall consent to
any voluntary extension of any statutory deadline or waiting period or to any
voluntary delay of the consummation of the Merger and the other transactions
contemplated hereby at the behest of any Governmental Entity without the
consent and agreement of the other parties to this Agreement, which consent shall
not be unreasonably withheld or delayed.&#160;
In furtherance and not in limitation of the foregoing, each party hereto
agrees to make an appropriate filing of a Notification and Report Form pursuant
to the HSR Act with respect to the transactions contemplated hereby as promptly
as practicable and to supply as promptly as practicable any additional
information and documentary material that may be requested pursuant to the HSR
Act and use its reasonable best efforts to take, or cause to be taken, as promptly
as practicable all other actions consistent with this Section 6.5 necessary to
cause the expiration or termination of the applicable waiting periods under the
HSR Act as soon as practicable.</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Without limiting the generality of
Section 6.5(a), each of Parent and the Company shall (i) cooperate in all
material respects with each other in connection with any filing or submission
and in connection with any investigation or other inquiry, including any
proceeding initiated by a private party; and (ii) keep the other party promptly
informed in all material respects of any material communication</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">29</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">received by such party from, or
given by such party to, the Federal Trade Commission, the Antitrust Division of
the Department of Justice or any other Governmental Entity and of any material
communication received or given in connection with any proceeding by a private
party, in each case regarding any of the transactions contemplated hereby.&#160; For purposes of this Agreement, &#147;<u>Antitrust
Law</u>&#148; means the Sherman Act, as amended, the Clayton Act, as amended, the
HSR Act, the Federal Trade Commission Act, as amended, and all other Laws that
are designed or intended to prohibit, restrict or regulate actions having the
purpose or effect of monopolization or restraint of trade or lessening of
competition through merger or acquisition.</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Without limiting the generality of
Section 6.5(a), each of Parent and the Company shall use its reasonable best
efforts to, as promptly and expeditiously as practicable, (i) file all required
applications for Parent and all &#147;key persons&#148; (as defined under applicable
Gaming Laws) to obtain the necessary approvals from all applicable Gaming
Authorities in order to consummate the transactions contemplated hereby
(including the Financing); and (ii) request an accelerated review from such
Gaming Authorities in connection with such filings.</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; In furtherance and not in limitation
of the covenants of the parties contained in Sections 6.5(a), (b) and (c), each
of Parent and the Company shall use its reasonable best efforts to resolve such
objections, if any, as may be asserted by a Governmental Entity or other person
with respect to the transactions contemplated hereby under any Antitrust Law or
Gaming Law or by any Gaming Authority.&#160;
In connection with the foregoing, if any administrative or judicial
action or proceeding, including any proceeding by a private party, is
instituted (or threatened to be instituted) challenging any transaction contemplated
by this Agreement as violative of any Antitrust Law, Gaming Law or the rules
and regulations of any Gaming Authority, each of Parent and the Company shall
cooperate in all respects with each other and use its respective reasonable
best efforts to, as promptly as practicable, contest and resist any such action
or proceeding, to limit the scope or effect of any proposed action of, or
remedy sought to be obtained or imposed by, any Gaming Authority, and to have
vacated, lifted, reversed or overturned any decree, judgment, injunction or
other order, whether temporary, preliminary or permanent, that is in effect and
that prohibits, prevents or restricts the consummation of the transactions
contemplated by this Agreement.&#160;
Notwithstanding the foregoing or any other provision of this Agreement,
nothing in this Section 6.5 shall (i) limit a party&#146;s right to terminate this
Agreement pursuant to Article VIII so long as such party has up to then
complied in all material respects with its obligations under this Section 6.5,
or (ii) require Parent to (A) dispose of or hold separate any part of its or
the Company&#146;s businesses or operations (or a combination of Parent&#146;s and the
Company&#146;s businesses or operations), (B) agree not to compete in any geographic
area or line of business or (C) remove or replace any &#147;key person&#148; (as defined
under applicable Gaming Laws), except that Parent shall be required in
furtherance of its obligations to take, or commit to take, the actions referred
to in this clause (ii) and any other actions to the extent that doing so would
not have, or be&#160; reasonably likely to
have, a Parent Material Adverse Effect.&#160;
For the avoidance of doubt, the parties acknowledge and agree that any
trust arrangement that may be required by a Gaming Authority as a result of the
potential holding of multiple licenses by Parent, the Surviving Corporation or
their respective</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">30</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">subsidiaries following the
Effective Time shall not in and of itself be deemed to constitute a Parent
Material Adverse Effect.&#160; The Company
will cooperate in taking any action required to be taken by any Governmental
Entity in connection with the transactions contemplated hereby that is within
its control and that Parent reasonably requests the Company to take so long as
the effectiveness of such action is conditioned on the consummation of the
Merger; <u>provided</u> that the Company shall not be required to take any
actions that, individually or in the aggregate, would in the reasonable
judgment of the Company result in a negative impact on the business of the
Company or any of its subsidiaries if the Merger is not consummated.</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Without limiting the generality of
Section 6.5(a), the Company shall not enter into any material consensual
restriction (including any consensual encumbrance on any of its assets) that
would be violated by the financing contemplated by the Commitment Letter (the &#147;<u>Financing</u>&#148;)
or that would prohibit the Company or its subsidiaries from entering into the
guarantees or granting the Liens on their respective assets contemplated
thereby (other than any restrictions or encumbrances relating to the Existing
Target Facilities (as defined in the Commitment Letter) or the Existing Target
Notes (as defined in the Commitment Letter) or any other indebtedness of the
Company or any of its subsidiaries to be repaid in conjunction with the
Transaction (as defined in the Commitment Letter) as contemplated by the
Commitment Letter), and the Company shall use its reasonable best efforts to
cooperate with Parent in its efforts to consummate the Financing.&#160; Such reasonable best efforts shall include,
to the extent reasonably requested by Parent, (i) providing direct contact
between prospective lenders and the officers and directors of the Company and
its subsidiaries, (ii) providing assistance in preparation of confidential
information memoranda, preliminary offering memoranda and other materials to be
used in connection with obtaining the Financing, (iii) providing assistance in
obtaining any consents of third parties necessary in connection with the
Financing, (iv) providing assistance in extinguishing existing indebtedness of
the Company and its subsidiaries and releasing liens securing such
indebtedness, in each case to take effect at the Effective Time, (v)
cooperation with respect to matters relating to pledges of collateral to take
effect at the Effective Time in connection with the Financing, (vi) using its
reasonable best efforts to assist Parent in obtaining legal opinions to be
delivered by counsel to Parent in connection with the Financing, (vii) using
its reasonable best efforts to provide the financial information necessary for
the satisfaction of the obligations and conditions set forth in the Commitment
Letter within the time periods required thereby and (viii) using its reasonable
best efforts to notify Parent of the occurrence or nonoccurrence of any event
the occurrence or nonoccurrence of which would be likely to cause any
representation or warranty contained in this Agreement which is qualified as to
materiality to be untrue or inaccurate, or any representation or warranty not
so qualified to be untrue or inaccurate in any material respect, at or prior to
the Effective Time.&#160; All out-of-pocket expenses
incurred by the Company or any of its subsidiaries in connection with their
respective obligations pursuant to this Section 6.5(e) shall be borne (or
reimbursed promptly following demand therefor) by Parent.&#160; Parent and Merger Sub acknowledge and agree
that no representation, warranty, covenant or agreement of the Company
contained in this Agreement shall be inaccurate or breached or deemed
inaccurate or breached, and no condition shall be deemed not satisfied, as a
result (in whole or in part) of any action</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">31</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">taken or not taken by the
Company or any of its subsidiaries pursuant to this Section 6.5(e).</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">(f)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The parties acknowledge and agree
that Section 6.5(e) shall not (i) require the Company or any of its
subsidiaries to enter into a loan agreement, note purchase agreement,
registration rights agreement, indenture or any other Contract, (ii) require
the Company, any of its subsidiaries or any of their respective officers or
directors to commence or take any other action with respect to any tender offer
for, or any consent solicitation with respect to, any debt securities of the
Company (other than ministerial actions, including facilitating access to the
trustee with respect to, or providing a list of the holders of, any such debt
securities), (iii) require the Company or any of its subsidiaries to file with
the SEC, or require any officer or director of the Company or any of its
subsidiaries to execute, any registration statement or other form, report or
document prior to the Effective Time, (iv) require counsel to the Company to
deliver any legal opinion in connection with the Financing (it being understood
that this Section 6.5(f)(iii) shall not prohibit Parent from retaining such
counsel to act on its behalf in connection with the Financing), (v) require the
Company or any of its subsidiaries, or any officer, director, employee, counsel
or adviser thereof, to make any representation or warranty, incur any liability
or provide for any indemnification or expense reimbursement in connection with
the Financing prior to the Effective Time, (vi) require the Company or any of
its subsidiaries to take any action that, individually or in the aggregate
would, or would reasonably be expected to, result in a violation or breach of,
or constitute (with or without due notice or lapse of time or both) a default
(or give rise to any right of termination, amendment, cancellation or
acceleration or Lien) under any of the terms, conditions or provisions of any
Contract to which the Company or any of its subsidiaries is party or by which
any of them or any of their respective properties or assets is bound, (vii)
require the Company or any of its subsidiaries to take any action that, in the
reasonable judgment of the Company, is not commercially reasonable or necessary
to consummate the Financing, (viii) require the Company or any of its
subsidiaries to take any actions that, individually or in the aggregate, would
in the reasonable judgment of the Company result in a negative impact on the
business of the Company or any of its subsidiaries if the Merger is not
consummated or (ix) in any manner limit or restrict the ability of the Company
and its subsidiaries to conduct their respective businesses in the ordinary
course of business consistent with past practice.</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;"><font style="color:red;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Section 6.6&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><u>Acquisition
Proposals</u>.</p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; From the date hereof until the
termination hereof and except as expressly permitted by the following
provisions of this Section 6.6, the Company will not, nor will it permit any of
its subsidiaries to, nor will it authorize or permit any officer, director,
employee or agent of, or any investment banker, attorney, accountant or other
advisor or representative of, the Company or any of its subsidiaries to,
directly or indirectly: (i) initiate, solicit or encourage any inquiries,
offers or proposals that constitute, or may reasonably be expected to lead to,
a proposal or offer for (x) any merger, consolidation, share exchange,
recapitalization, business combination or similar transaction, involving the
Company or any of its subsidiaries whose assets represent twenty (20%) percent
or more of the assets or earning power of the Company and its</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">32</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">subsidiaries, taken as a whole,
(y) any sale, lease, exchange, transfer or other disposition, in a single
transaction or series of related transactions, of assets representing twenty
percent (20%) or more of the assets or earning power of the Company and its
subsidiaries, taken as a whole, or (z) any sale of shares of capital stock representing,
individually or in the aggregate, twenty percent (20%) or more of the voting
power of the Company other than to the Company or any subsidiary of the
Company, including, without limitation, by way of a tender offer or exchange
offer by any person (other than the Company or a subsidiary of the Company) for
shares of capital stock representing twenty percent (20%) or more of the voting
power of the Company (any of the foregoing inquiries, offers or proposals being
(other than the Merger and the other transactions contemplated herein) referred
to in this Agreement as an &#147;<u>Acquisition Proposal</u>&#148;); (ii) participate in
any discussions or negotiations concerning, or provide to any person any
information or data relating to the Company or any subsidiary of the Company
for the purposes of making, or take any other action to facilitate, any
Acquisition Proposal or any inquiries or the making of any proposal that
constitutes or may reasonably be expected to lead to any Acquisition Proposal;
or (iii) agree to, approve or recommend any Acquisition Proposal; provided,
however, that, subject to the Company&#146;s compliance with this Section 6.6,
nothing contained in this Section 6.6 or elsewhere in this Agreement shall
prevent the Company or the Company Board from, prior to receipt of the Company
Requisite Vote, (A) entering into a definitive agreement providing for the
implementation of a Superior Proposal if the Company or the Company Board is
concurrently terminating this Agreement pursuant to Section 8.3(a), (B) furnishing
non-public information to, entering into customary confidentiality agreements
with, or entering into discussions or negotiations with, any person or entity
in connection with an unsolicited bona fide written Acquisition Proposal to the
Company or its stockholders, if the Company Board determines in its good faith
reasonable judgment after consultation with the Company Financial Advisor or
other nationally-recognized independent financial advisors that such
Acquisition Proposal, if accepted, constitutes, or is reasonably likely to lead
to or result in, a Superior Proposal, (C) taking and disclosing to its
stockholders a position with respect to such Acquisition Proposal contemplated
by Rule 14e-2(a) promulgated under the Exchange Act or making any disclosure to
its stockholders, or (D) taking any nonappealable, final action ordered to be
taken by the Company by any court of competent jurisdiction.&#160; The Company will immediately cease and cause
to be terminated any existing activities, discussions or negotiations with any
parties conducted heretofore with respect to any Acquisition Proposal, and will
promptly inform the individuals or entities referred to in the first sentence
of this Section 6.6(a) of the obligations undertaken in this Section 6.6.</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The Company shall (i) promptly (and
in any event no later than forty-eight (48) hours after receipt by the Company
Board or a senior executive officer of the Company) notify Parent orally and in
writing after receipt by the Company (or its advisors) of any Acquisition
Proposal or any inquiries indicating that any person is considering making or
wishes to make, or which may reasonably be expected to lead to, an Acquisition
Proposal, including the material terms and conditions thereof and the identity
of the person making it, (ii) promptly (and in any event no later than
forty-eight (48) hours after receipt by the Company Board or a senior executive
officer of the Company) notify Parent orally and in writing after receipt of
any request for non-public</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">33</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">information relating to it or
any of its subsidiaries or for access to its or any of its subsidiaries&#146;
properties, books or records by any person that, to the Company&#146;s knowledge,
may be considering making, or has made, an Acquisition Proposal, and (iii)
receive from any person that may make or has made an Acquisition Proposal and
that requests non-public information relating to the Company and/or any of its
subsidiaries, an executed confidentiality letter in reasonably customary form
and containing terms that are as stringent in all material respects as those
contained in the Confidentiality Agreement prior to delivery of any such
non-public information.&#160; Oral notice
shall be deemed given by making a telephone call to Thomas H. Kennedy at (212)
735-2526 and speaking with him directly or leaving a voice mail message (in
which case a voice mail message shall also be left with David Reamer at (213)
687-5052) or to such other person and telephone number as may be directed in
writing by Parent.&#160; Written notice shall
be deemed given to Parent upon notice to Parent in accordance with Section 9.3.</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The Company Board will call the
Company Stockholder Meeting in accordance with Section 6.1 and will not fail to
make, withdraw or modify, or propose to withdraw or modify, in any manner
adverse to Parent, its approval or recommendation of this Agreement or the
Merger (&#147;<u>Board Recommendation</u>&#148;) unless in any such case the Company
Board determines in good faith after consultation with its counsel that failure
to take such action would present a reasonable probability of violating its
fiduciary duties under applicable Law.</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:red;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Section 6.7&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><u>Public
Announcements</u>.&#160; The parties
contemplate the issuance of a joint press release with respect to the
announcement of this Agreement.&#160; Each of
Parent, Merger Sub and the Company will consult with one another before issuing
any press release or otherwise making any public statements with respect to the
transactions contemplated by this Agreement, including, without limitation, the
Merger, and shall not issue any such press release or make any such public
statement prior to such consultation, except as may be required by any
applicable Gaming Authority, Governmental Entity or Law or by obligations pursuant
to any listing agreement with or rules and regulations of the NYSE or Nasdaq,
as determined by the Company, Parent or Merger Sub, as the case may be, in
which case the issuing party shall use its reasonable best efforts to consult
with the other parties before issuing any such release or making any such
public statement.&#160; Without limiting the
foregoing, the Company will not publicly disclose any guidance concerning the
expected earnings or other performance of the Company or any of its
subsidiaries; provided, however, that (i) the Company shall publicly disclose
that it is no longer providing such guidance as a result of the requirements of
this Section 6.7 and shall be permitted to provide guidance if, based on the
advice of outside legal counsel, the provision of such guidance is required or
advisable under applicable Law and (ii) the Company shall otherwise be
permitted to communicate with the financial markets (including by speaking with
analysts and releasing information with respect to its historical results).</p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:red;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Section 6.8&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><u>Indemnification;
Directors&#146; and Officers&#146; Insurance</u>.</p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; From and after the Effective Time,
Parent shall, to the fullest extent permitted by applicable Law, indemnify,
defend and hold harmless each person</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">34</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">who is now, or has been at any
time prior to the date hereof, or who becomes prior to the Effective Time, a
director or officer of the parties hereto (each, an &#147;<u>Indemnified Party</u>&#148;
and, collectively, the &#147;<u>Indemnified Parties</u>&#148;) against all losses,
expenses (including reasonable attorneys&#146; fees and expenses), Claims, damages
or liabilities or, subject to the proviso of the next succeeding sentence,
amounts paid in settlement, arising out of actions or omissions occurring at or
prior to the Effective Time and whether asserted or claimed prior to, at or
after the Effective Time that are in whole or in part (i) based on, or arising
out of the fact that such person is or was a director or officer of such party
or (ii) based on, arising out of or pertaining to the transactions contemplated
by this Agreement.&#160; In the event of any
such loss, expense, Claim, damage or liability (whether or not arising before
the Effective Time), (i) Parent shall pay the reasonable fees and expenses of
counsel selected by such Indemnified Party, which counsel shall be reasonably
satisfactory to Parent, promptly after statements therefor are received and
otherwise advance to such Indemnified Party upon request reimbursement of
documented expenses reasonably incurred, in either case to the extent not
prohibited by applicable Law and upon receipt of any affirmation and
undertaking required by applicable Law, (ii) Parent will cooperate in the
defense of any such matter and (iii) any determination required to be made with
respect to whether an Indemnified Party&#146;s conduct complies with the standards
set forth under applicable Law and Parent&#146;s articles of incorporation or bylaws
shall be made by independent counsel mutually acceptable to Parent and the
Indemnified Party; provided, however, that Parent shall not be liable for any
settlement effected without its written consent (which consent shall not be
unreasonably withheld).</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; After the Effective Time, Parent
shall cause to be maintained in effect a policy of directors&#146; and officers&#146;
liability insurance providing tail coverage for the benefit of those persons
who are covered by a directors&#146; and officers&#146; liability insurance policy
maintained by the Company at the Effective Time for the maximum term and
coverage (not to exceed the coverage amount provided by the Company&#146;s policy
that was effective on October 29, 2004) that can be obtained for the payment of
an aggregate premium cost to Parent not greater than three hundred fifty
percent (350%) of the annual premium payable by the Company for its directors&#146;
and officers&#146; liability insurance that was effective as of October 29, 2004,
the amount of coverage and term of such policy to be advised by the Company to
Parent.</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; In the event Parent or any of its
successors or assigns (i) consolidates with or merges into any other person and
shall not be the continuing or surviving corporation or entity of such
consolidation or merger or (ii) transfers all or substantially all of its
properties and assets to any person, then and in either such case, proper
provision shall be made so that the successors and assigns of Parent shall
assume the obligations set forth in this Section 6.8.</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; To the fullest extent permitted by
Law, from and after the Effective Time, all rights to indemnification and
advancement of expenses now existing in favor of the employees, agents,
directors or officers of the Company and its subsidiaries with respect to their
activities as such prior to the Effective Time, as provided in the Company&#146;s
certificate of incorporation or bylaws, in effect on the date thereof or
otherwise in effect on the date hereof, all of which the Company represents are</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">35</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">listed in Section 6.8 of the
Company Disclosure Schedule, shall survive the Merger and shall continue in
full force and effect for a period of not less than six (6) years from the
Effective Time.</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The provisions of this Section 6.8
are intended to be for the benefit of, and shall be enforceable by, each
Indemnified Party, his or her heirs and his or her representatives.</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:red;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Section 6.9&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><u>Employee
Matters</u>.</p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Parent will cause the Surviving
Corporation to honor and assume the obligations of the Company or any of its
subsidiaries as of the Effective Time under the provisions of all employment,
bonus, consulting, termination, severance, change in control, collective
bargaining agreements, and indemnification agreements between and among the
Company or any of its subsidiaries and any current or former officer, director,
consultant or employee of the Company or any of its subsidiaries; provided,
however, that this Section 6.9 shall not be construed to limit Parent&#146;s or the
Surviving Corporation&#146;s ability to amend or terminate any such agreement to the
extent permitted by Law and the terms of each such agreement.</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Following the Effective Time and for
a period of twelve (12) months thereafter, Parent shall provide or shall cause
the Surviving Corporation to provide, to all individuals who are employees of
the Company at the Effective Time and whose employment will continue following
the Effective Time (the &#147;<u>Assumed Employees</u>&#148;) with base salary and bonus
opportunity no less favorable than that in effect immediately prior to the
Effective Time and (i) employee benefits that are no less favorable, in the
aggregate, as Parent provides to similarly-situated employees of Parent; (ii)
benefits that are no less favorable, in the aggregate, to those of the Company
as in effect immediately prior to the Effective Time; or (iii) a combination of
clauses (i) and (ii); provided that such employee benefits are no less
favorable, in the aggregate, than those in effect for the Assumed Employees
immediately prior to the Effective Time.&#160;
Following the Effective Time, each Assumed Employee shall receive
service credit for purposes of eligibility to participate and vesting (but not
for benefit accrual purposes) for all periods of employment with the Company
and its Affiliates and predecessors thereto prior to the Effective Time under
any employee benefit plan of Parent or its Affiliates in which such employee is
eligible to participate after the Effective Time, to the extent such credit was
given under the corresponding Employee Benefit Plan.&#160; Notwithstanding any of the foregoing to the
contrary, none of the provisions contained herein shall operate to duplicate
any benefit provided to any Assumed Employee or the funding of any such
benefit.&#160; Parent and the Surviving
Corporation will cause all (A) pre-existing conditions and proof of
insurability provisions, for all conditions covered by Parent&#146;s plan in which
Assumed Employees participate that such Assumed Employees and their covered
dependents have as of the Effective Time, and (B) waiting periods under each
plan that would otherwise be applicable to newly hired employees to be waived
in the case of clause (A) and clause (B) with respect to Assumed Employees to
the same extent waived or satisfied under the Employee Benefit Plans.&#160; Parent or the Surviving Corporation will
cause any eligible expenses incurred by an Assumed Employee and his or her
covered</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">36</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">dependents during the portion
of the plan year of the Employee Benefit Plan ending on the date such employee&#146;s
participation in such plan ended to be accounted for in the corresponding new
or existing employee benefit plan of Parent or its Affiliates for purposes of
satisfying all deductible, coinsurance and maximum out-of-pocket requirements
applicable to such employee and/or his or her covered dependents for the
applicable plan year as if such amounts had been paid in accordance with such
new or existing employee benefit plan.</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Parent and the Surviving Corporation
will give each Assumed Employee credit, for purposes of Parent&#146;s and the
Surviving Corporation&#146;s vacation and/or other paid leave benefit programs, for
such employee&#146;s accrued and unpaid vacation and/or paid leave balance as of the
Effective Time.</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Nothing contained in this Agreement
is intended to (i) confer upon any Assumed Employee any right to continued
employment after the Effective Time or (ii) prevent Parent or the Surviving
Corporation from reserving the right to amend, modify or terminate any of their
respective benefit plans.</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Parent and the Surviving Corporation
will cause the severance benefits described in the following sentence to be
provided to any Assumed Employee who would have been eligible for severance
benefits under the Company&#146;s Corporate and Key Employee Severance Plan or the
Alton Belle Casino Reduction in Force or Job Elimination Salary &amp; Benefits
Continuation, in accordance with the terms of such plans as of the date of this
Agreement, if such Assumed Employee has a qualifying termination during the
twelve-month period following the Effective Time.&#160; The severance benefits provided shall be no
less favorable than those currently provided to a similarly situated employee
under such plans.&#160; Notwithstanding the
preceding two sentences, the Company shall not designate any additional
individuals as Key Employees under the Corporate and Key Employee Severance
Plan after the execution of this Agreement, except with respect to individual
employees hired after the date hereof.</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">(f)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Parent and the Surviving Corporation
will cause to be paid to any individual who is an employee of the Company as of
the Effective Time and ceases to be an employee of Parent or any of its
subsidiaries within twelve months following the Effective Time, to the extent
not paid as of the date such individual ceased to be so employed, (i) such individual&#146;s
full bonus under the Company&#146;s annual cash bonus plan for the preceding fiscal
year and (ii) if the Effective Time occurs on or after April 1, 2005 and such
individual ceased to be so employed because such individual was terminated by
Parent or any of its subsidiaries, a pro rata portion of such individual&#146;s
target bonus under the Company&#146;s annual cash bonus plan for the fiscal year in
which such individual was terminated.</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">(g)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; As of the Effective Time, Parent and
the Surviving Corporation will cause to be paid to each employee who is a
participant in the Company&#146;s Long Term Incentive Cash Award Plan immediately
prior to the Effective Time, the pro rata portion of such employee&#146;s LTI Cash
Award under the Long Term Incentive Cash Award Plan.&#160; The index calculation with respect to each
LTI Cash Award will be</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">37</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">determined using the Merger
Consideration in lieu of the stock closing price as provided under the Long
Term Incentive Cash Award Plan.</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:red;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Section 6.10&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><u>Company
Headquarters</u>.&#160; For a period of not
less than six (6) months following the Effective Time, Parent shall maintain
the current headquarters of the Company in Alton, Illinois as a divisional
headquarters and shall continue to employ at least sixty percent (60%) of the
individuals who are employed at such current headquarters as of immediately
prior to the Effective Time.</p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:red;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Section 6.11&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><u>SEC
Filings</u>.&#160; Each of Parent and the
Company shall promptly provide the other party (or its counsel) with copies of
all filings made by the other party or any of its subsidiaries with the SEC or
any other state or federal Governmental Entity in connection with this
Agreement and the transactions contemplated hereby.</p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:red;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Section 6.12&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><u>Fees
and Expenses</u>.&#160; Except as otherwise
contemplated in Section 6.5 or Section 8.6, whether or not the Merger is
consummated, all Expenses incurred in connection with this Agreement and the
transactions contemplated hereby shall be paid by the party incurring such
Expenses, except for Expenses incurred, other than attorneys&#146; fees, in
connection with the filing of the premerger Notification and Report Forms
relating to the Merger under the HSR Act and except for filing, printing and
mailing fees incurred in connection with the filing, printing and mailing of
the Proxy Statement, which shall be shared equally by the Company and
Parent.&#160; As used in this Agreement, &#147;<u>Expenses</u>&#148;
includes all expenses (including, without limitation, all fees and expenses of
counsel, accountants, investment bankers, experts and consultants to a party
hereto and its affiliates) incurred by a party or on its behalf in connection
with, or related to, the authorization, preparation, negotiation, execution and
performance of this Agreement, and the transactions contemplated hereby,
including the preparation, filing, printing and mailing of the Proxy Statement
and the solicitation of stockholder approvals and all other matters related to
the transactions contemplated hereby.</p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:red;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Section 6.13&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><u>Obligations
of Merger Sub</u>.&#160; Parent will take all
action necessary to cause Merger Sub (i) to perform its obligations under this
Agreement and to consummate the Merger on the terms and conditions set forth in
this Agreement and (ii) not to conduct any business prior to the Effective Time
other than in connection with the Merger and the transactions contemplated by
this Agreement.</p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:red;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Section 6.14&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><u>Stock
Delisting</u>.&#160; The parties shall use
their reasonable best efforts to cause the Surviving Corporation to cause the
Company Common Stock to be delisted from the NYSE and deregistered under the
Exchange Act as soon as practicable following the Effective Time.</p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:red;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Section 6.15&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><u>Antitakeover
Statutes</u>.&#160; If any Takeover Statute is
or may become applicable to the Merger or the other transactions contemplated
hereby, each of Parent and the Company and their respective boards of directors
shall, subject to their fiduciary duties under applicable Law, grant such
approvals and take such actions as are necessary so that the Merger and such
transactions may be consummated as promptly as</p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">38</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">practicable on the terms
contemplated hereby and otherwise act to eliminate or minimize the effects of
any Takeover Statute on the Merger and such transactions.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:red;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Section 6.16&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><u>Control
of the Company&#146;s Operations</u>.&#160; Nothing
contained in this Agreement shall give Parent, directly or indirectly, rights
to control or direct the Company&#146;s operations prior to the Effective Time.</p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:red;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Section 6.17&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><u>Financing</u>.&#160; (a)&#160;
Parent shall obtain and effectuate the Financing and shall keep the
Company apprised of all developments that would materially affect or delay the
Financing.&#160; Parent shall not, or permit
any of its subsidiaries to, without the prior written consent of the Company,
take any action or enter into any transaction, including, without limitation,
any merger, acquisition, joint venture, disposition, lease, contract or debt or
equity financing that would reasonably be expected to materially impair,
materially delay or prevent the Financing.&#160;
Parent shall not amend or alter, or agree to amend or alter the
Commitment Letter in any manner that would materially impair, materially delay
or prevent the Merger or the Financing without the prior written consent of the
Company.&#160; In the event that the
Commitment Letter shall expire or be terminated for any reason, Parent shall
promptly notify the Company of such event and the reasons therefor.</p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; In the event that at the time the
conditions set forth in Article VII shall otherwise be satisfied or waived or
susceptible of satisfaction at Closing there shall exist (or have occurred
within the prior month) a substantial disruption or substantial volatility in
the capital markets globally or in the United States, Parent may elect to delay
the Closing for a reasonable period not to exceed thirty (30) days (the &#147;<u>Extension
Period</u>&#148;) in order to permit the cessation or amelioration of such
disruption or volatility, provided that Parent may not so elect unless Parent
shall, concurrent with the making of such election, deliver to the Company a
written acknowledgement that from and after the date on which Parent makes such
election all conditions set forth in Sections 7.1 and 7.2 shall be deemed
satisfied and Parent shall not at any time thereafter assert that any such
condition has not been satisfied.&#160; As
used herein, the term &#147;<u>Extension Date</u>&#148; shall mean a business day within
such Extension Period selected by Parent, provided that in no event shall the
Extension Date be a date after December 31, 2005.</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE VII</font></p>

<p style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">CONDITIONS TO CONSUMMATION OF THE MERGER</font></p>

<p style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:red;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Section 7.1&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><u>Conditions
to Each Party&#146;s Obligations to Effect the Merger</u>.&#160; The respective obligations of each party to
consummate the transactions contemplated by this Agreement are subject to the
fulfillment at or prior to the Effective Time of each of the following
conditions, any or all of which may be waived in whole or in part by the party
being benefited thereby, to the extent permitted by applicable Law:</p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; This Agreement shall have been
approved and adopted by the Company Requisite Vote.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">39</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Any waiting period applicable to the
Merger under the HSR Act shall have expired or early termination thereof shall
have been granted without limitation, restriction or condition that has had or
would reasonably be expected to have, individually or in the aggregate, a
Parent Material Adverse Effect (after giving effect to the Merger).</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; There shall not be in effect any Law
(including, without limitation, any Gaming Law) of any Governmental Entity
(including, without limitation, any Gaming Authority) of competent jurisdiction
restraining, enjoining or otherwise preventing consummation of the transactions
contemplated by this Agreement or permitting such consummation only subject to
any condition or restriction that has or would reasonably be expected to have,
individually or in the aggregate, a Parent Material Adverse Effect (after
giving effect to the Merger), and no Governmental Entity shall have instituted
any proceeding which continues to be pending seeking any such Law.</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Parent, Merger Sub and the Company
shall have obtained each consent, approval or waiver required to be obtained
from any Gaming Authority under any Gaming Law in connection with the Merger
and the other transactions contemplated hereby (including the Financing).</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:red;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Section 7.2&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><u>Conditions
to the Obligations of Parent and Merger Sub</u>.&#160; The respective obligations of Parent and
Merger Sub to consummate the transactions contemplated by this Agreement are
subject to the fulfillment at or prior to the Effective Time of each of the
following additional conditions, any or all of which may be waived in whole or
part by Parent and Merger Sub, as the case may be, to the extent permitted by
applicable Law:</p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The representations and warranties of
the Company contained herein, to the extent qualified by materiality or Company
Material Adverse Effect, shall have been true and, to the extent not qualified
by materiality or Company Material Adverse Effect, shall have been true in all
material respects, in each case when made and on and as of the Closing Date as
though made on and as of the Closing Date (except for representations and
warranties made as of a specified date, which need be true, or true in all
material respects, as the case may be, only as of the specified date).</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The Company shall have performed or
complied in all material respects with all agreements contained herein required
to be performed or complied with by it prior to or at the time of the Closing.</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Since the date of this Agreement,
there shall have been no event which, individually or in the aggregate, results
in or would reasonably be expected to result in a Company Material Adverse
Effect.</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The Company shall have delivered to
Parent a certificate, dated the Closing Date, signed by the President or any
Vice President of the Company (but without personal liability thereto),
certifying as to the fulfillment of the conditions specified in Sections 7.2(a)
and 7.2(b).</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">40</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

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<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Holders of not more than ten percent
(10%) of the outstanding Shares shall have properly demanded appraisal rights
for their Shares under the DGCL.</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:red;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Section 7.3&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><u>Conditions
to the Obligations of the Company</u>.&#160;
The obligation of the Company to consummate the transactions
contemplated by this Agreement are subject to the fulfillment at or prior to
the Effective Time of each of the following additional conditions, any or all
of which may be waived in whole or in part by the Company to the extent
permitted by applicable Law:</p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The representations and warranties of
Parent and Merger Sub contained herein, to the extent qualified by materiality
or Parent Material Adverse Effect, shall have been true and, to the extent not
qualified by materiality or Parent Material Adverse Effect, shall have been
true in all material respects, in each case when made and on and as of the
Closing Date as though made on and as of the Closing Date (except for
representations and warranties made as of a specified date, which need be true,
or true in all material respects, as the case may be, only as of the specified
date).</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Parent shall have performed or
complied in all material respects with all agreements contained herein required
to be performed or complied with by it prior to or at the time of the Closing.</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Parent shall have delivered to the
Company a certificate, dated the Closing Date, signed by the President or any
Vice President of Parent (but without personal liability thereto), certifying
as to the fulfillment of the conditions specified in Section 7.3(a) and 7.3(b).</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE VIII</font></p>

<p style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">TERMINATION; AMENDMENT; WAIVER</font></p>

<p style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:red;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Section 8.1&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><u>Termination
by Mutual Agreement</u>.&#160; This Agreement
may be terminated and the Merger may be abandoned at any time prior to the Effective
Time, whether before or after the approval of the Merger by the Company
Requisite Vote referred to in Section 7.1(a), by mutual written consent of the
Company and Parent by action of their respective Boards of Directors.</p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:red;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Section 8.2&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><u>Termination
by Either Parent or the Company</u>.&#160;
This Agreement may be terminated and the Merger may be abandoned at any
time prior to the Effective Time by action of the Board of Directors of either
Parent or the Company if:</p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; the Merger shall not have been
consummated on or before November 3, 2005, whether such date is before or after
the date of approval of the Merger by the Company Requisite Vote (as may be
extended as hereinafter provided, the &#147;<u>Termination Date</u>&#148;); provided,
however, that if either Parent or the Company determines that additional time
is necessary in connection with obtaining any consent, registration, approval,
permit or </font>authorization required to be obtained from any
Gaming Authority, or in order to comply with the terms of any such consent,
registration, approval, permit or</p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">41</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

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</font></div>

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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">authorization to the extent
that such compliance is required to occur prior to the Effective Time, the
Termination Date may be extended by Parent or the Company from time to time by
written notice to the other party to a date not beyond December 31, 2005;</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; the Company Requisite Vote shall not
have been obtained at the Company Stockholder Meeting or at any adjournment or
postponement thereof;</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; any Law permanently restraining,
enjoining or otherwise prohibiting consummation of the Merger shall become
final and non-appealable (whether before or after the approval of the Merger by
the Company Requisite Vote); or</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; any Governmental Entity shall have
failed to issue an order, decree or ruling or to take any other action which is
necessary to fulfill the conditions set forth in Section 7.1(b) or 7.1(d), as
applicable, and (i) such denial of a request to issue such order, decree,
ruling or take such other action shall have been final and nonappealable or
(ii) such order, decree, ruling or other action is not reasonably likely to be
issued or taken prior to December 31, 2005;</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">provided, however, that the right to terminate this Agreement pursuant
to this Section 8.2 shall not be available to any party that has breached in
any material respect its obligations under this Agreement in any manner that
shall have proximately contributed to the occurrence of the failure of the
Merger to be consummated.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:red;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Section 8.3&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><u>Termination
by the Company</u>.&#160; This Agreement may
be terminated and the Merger may be abandoned at any time prior to the
Effective Time by action of the Company Board:</p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; prior to the Company Requisite Vote,
if the Company Board shall have approved, and the Company shall have concurrently
entered into, a definitive agreement providing for the implementation of a
Superior Proposal (a &#147;<u>Superior Proposal Agreement</u>&#148;), so long as such
action is in full compliance with and not prohibited by Section 6.6 and the
Company notifies Parent, in writing, promptly and at least two (2) business
days prior to such termination, of its intention to enter into such a Superior
Proposal Agreement, attaching the most current draft of such Superior Proposal
Agreement (or a description of all material terms and conditions thereof),
Parent does not make, within two (2) business days of receipt of such written
notification, a written offer that the Company Board determines, in good faith,
after consultation with its financial advisers, is at least as favorable to the
stockholders of the Company as such Superior Proposal and the Company prior to
or concurrently with such termination pursuant to this Section 8.3(a) pays to
Parent in immediately available funds any amount required to be paid at such
time pursuant to Section 8.6(b);</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; if there is a breach by Parent or
Merger Sub of any representation, warranty, covenant or agreement contained in
this Agreement that cannot be cured (or, if curable, the breaching party shall
not be diligently attempting to cure such breach after written notice of such
breach by the terminating party) and would cause a</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">42</font></p>

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</font></div>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">condition set forth in Section
7.3(a) or 7.3(b) to be incapable of being satisfied as of the Termination Date;
or</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; upon written notice to Parent if the
Commitment Letter shall have expired or have been terminated or prior to the
end of any calendar quarter ending after June 30, 2005 the Company requests
Parent to deliver to the Company a certificate pursuant to this Section 8.3(c)
and Parent does not within thirty (30) days of the date of such request,
deliver a certificate of Parent signed by a responsible officer stating that
the Commitment Letter is in full force and effect and that, after inquiry of
the Financing Sources, Parent does not know of any facts that would reasonably
be expected to materially impair, materially delay or prevent the consummation
of the Financing; provided, however, that the right to terminate this Agreement
under this Section 8.3(c) shall not be available to the Company unless within
ten (10) days of receiving written notice by the Company of its intention to
terminate this Agreement under this Section 8.3(c), Parent does not (A) secure
an extension of the Commitment Letter (if expired or terminated), (B) secure an
amendment of the Commitment Letter that allows it to deliver the certificate
referenced in this Section 8.3(c), or (C) secure a commitment letter or
definitive agreement for alternative financing from reputable financing sources
in an amount sufficient to consummate the Merger.&#160; Notwithstanding the foregoing, the right to
terminate this Agreement pursuant to this Section 8.3(c) shall not be available
to the Company if it has breached in any material respect any of its obligations,
representations or warranties under this Agreement in a manner that materially
contributed to Parent&#146;s inability to deliver the certificate referenced in this
Section 8.3(c).</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:red;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Section 8.4&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><u>Termination
by Parent</u>.&#160; This Agreement may be
terminated and the Merger may be abandoned at any time prior to the Effective
Time, by action of the Parent Board:</p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; if the Company (i) enters into a
Superior Proposal Agreement or (ii) the Company Board breaches the provisions
of Section 6.6(c) or (iii) recommends to the stockholders of the Company an
Acquisition Proposal or shall have resolved to do so; or</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; if there is a breach by the Company
of any representation, warranty, covenant or agreement contained in this
Agreement that cannot be cured and would cause a condition set forth in
Sections 7.2(a) or 7.2(b) to be incapable of being satisfied as of the
Termination Date (or, if curable, the breaching party shall not be diligently
attempting to cure such breach after written notice of such breach by the
terminating party).</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:red;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Section 8.5&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><u>Effect
of Termination and Abandonment</u>.&#160; In
the event of termination of this Agreement and the abandonment of the Merger
pursuant to this Article VIII, this Agreement (other than the third sentence of
Section 6.5(e), this Section 8.5, Sections 5.2(c), 6.12 and 8.6 and Article IX)
shall become void and of no effect with no liability on the part of any party
hereto (or of any of its directors, officers, employees, agents, legal and
financial advisors or other representatives); provided, however, that no such
termination shall relieve any party hereto of any liability or damages
resulting from</p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">43</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">any willful breach of any of
its representations or warranties or the breach of any of its covenants or
agreements set forth in this Agreement.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:red;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Section 8.6&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><u>Termination
Amount and Expenses</u>.</p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Except as set forth in Section 6.5 or
this Section 8.6, all Expenses incurred in connection with this Agreement and
the transactions contemplated hereby shall be paid in accordance with the
provisions of Section 6.12.</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The Company agrees that, if</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt .5in;text-indent:1.75in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">(i)&#160;&#160;&#160; the
Company shall terminate this Agreement pursuant to Section 8.3(a); or</font></p>

<p style="color:black;margin:0in 0in .0001pt .5in;text-indent:1.75in;"><font size="2" color="black" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt .5in;text-indent:1.75in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">(ii)&#160;&#160; Parent
shall terminate this Agreement pursuant to Section 8.4(a); or</font></p>

<p style="color:black;margin:0in 0in .0001pt .5in;text-indent:1.75in;"><font size="2" color="black" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt .5in;text-indent:1.75in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">(iii)&#160; this
Agreement shall be terminated pursuant to Section 8.2(a) following receipt by
the Company of an Acquisition Proposal that has become publicly known and
within seven (7) months of such termination the Company enters into a
definitive agreement with respect to, or consummates, an Acquisition Proposal
pursuant to which the stockholders of the Company receive or will receive
pursuant to the terms of such definitive agreement cash or securities having an
aggregate value in excess of $47 per Share (provided that for purposes of this
Section 8.6(b)(iii), each reference to &#147;twenty percent (20%)&#148; in the definition
of Acquisition Proposal shall be deemed a reference to &#147;fifty percent (50%)&#148;);
or</font></p>

<p style="color:black;margin:0in 0in .0001pt .5in;text-indent:1.75in;"><font size="2" color="black" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt .5in;text-indent:1.75in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">(iv)&#160; this
Agreement shall be terminated pursuant to Section 8.2(b) following receipt by
the Company of an Acquisition Proposal that has become publicly known prior to
the Company Stockholder Meeting and within seven (7) months of such termination
the Company enters into a definitive agreement with respect to, or consummates,
an Acquisition Proposal pursuant to which the stockholders of the Company
receive or will receive pursuant to the terms of such definitive agreement cash
or securities having an aggregate value in excess of $47 per Share (provided
that for purposes of this Section 8.6(b)(iii), each reference to &#147;twenty
percent (20%)&#148; in the definition of Acquisition Proposal shall be deemed a
reference to &#147;fifty percent (50%)&#148;),</font></p>

<p style="color:black;margin:0in 0in .0001pt .5in;text-indent:1.75in;"><font size="2" color="black" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">then the Company shall pay to
Parent on or before the Termination Payment Date a termination fee in an amount
equal to $49,500,000 (the &#147;<u>Termination Amount</u>&#148;).&#160; As used in this Agreement, &#147;<u>Termination
Payment Date</u>&#148; shall mean (A) in the case of a termination pursuant to
Section 8.3(a) or Section 8.4(a)(i), prior to or simultaneously with such termination,
(B) in the case of a termination pursuant to Section 8.4(a)(ii) or (iii),
within ten (10) business days after such termination, and (C) in the case of a
termination pursuant to Section 8.2(a) or Section 8.2(b), within two (2)
business days after any entry</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">44</font></p>

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</font></div>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">into a definitive agreement
with respect to, or any consummation of, any Acquisition Proposal, under the
circumstances described in Section 8.6(b)(iii) or (iv), as applicable.</font></p>

<p style="color:black;margin:0in 0in .0001pt;"><font size="2" color="black" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Each of Parent and the Company agrees
that the payments provided for in this Section 8.6 shall be the sole and
exclusive remedy of the parties upon a termination of this Agreement pursuant
to Article VIII, and such remedy shall be limited to the payments stipulated in
this Section 8.6; provided, however, that nothing in this Agreement shall
relieve any party hereto of any liability or damages resulting from any willful
breach of any of its representations and warranties or the breach of any of its
covenants or agreements set forth in this Agreement.</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Any payment required to be made
pursuant to this Section 8.6 shall be made on the requisite payment date by
wire transfer of immediately available funds to an account designated by Parent
or the Company, as applicable.</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:red;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Section 8.7&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><u>Amendment</u>.&#160; This Agreement may be amended by action taken
by the Company, Parent and Merger Sub at any time before or after approval of
the Merger by the Company Requisite Vote but, after any such approval, no
amendment shall be made which requires the approval of such stockholders under
applicable Law without such approval.&#160;
This Agreement may not be amended except by an instrument in writing
signed on behalf of the parties hereto.</p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:red;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Section 8.8&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><u>Extension;
Waiver</u>.&#160; At any time prior to the
Effective Time, each party hereto (for these purposes, Parent and Merger Sub
shall together be deemed one party and the Company shall be deemed the other
party) may (a) extend the time for the performance of any of the obligations or
other acts of the other party, (b) waive any inaccuracies in the
representations and warranties of the other party contained herein or in any
document, certificate or writing delivered pursuant hereto, or (c) waive
compliance by the other party with any of the agreements or conditions
contained herein.&#160; Any agreement on the
part of either party hereto to any such extension or waiver shall be valid only
if set forth in an instrument in writing signed on behalf of such party.&#160; The failure of either party hereto to assert
any of its rights hereunder shall not constitute a waiver of such rights.</p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE IX</font></p>

<p style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">MISCELLANEOUS</font></p>

<p style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:red;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Section 9.1&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><u>Nonsurvival
of Representations and Warranties</u>.&#160;
None of the representations, warranties, covenants and agreements in
this Agreement or in any exhibit, schedule or instrument delivered pursuant to
this Agreement shall survive beyond the Effective Time, except for those
covenants and agreements contained herein and therein that by their terms apply
or are to be performed in whole or in part after the Effective Time and this
Article IX.&#160; This Section 9.1 shall not
limit any covenant or agreement of the parties which by its terms contemplates
performance after the Effective Time.</p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">45</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:red;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Section 9.2&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font>Entire
Agreement; Assignment.</p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; This Agreement (including any
exhibits, schedules and annexes to this Agreement), the Company Disclosure
Schedule and the Parent Disclosure Schedule constitute the entire agreement
between the parties hereto with respect to the subject matter hereof and
supersede all other prior agreements and understandings, both written and oral,
between the parties with respect to the subject matter hereof other than the
Confidentiality Agreement.</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Neither this Agreement nor any of the
rights, interests or obligations hereunder shall be assigned by operation of
Law (including, but not limited to, by merger or consolidation) or
otherwise.&#160; Any assignment in violation
of the preceding sentence shall be void.&#160;
Subject to the preceding sentence, this Agreement will be binding upon,
inure to the benefit of, and be enforceable by, the parties and their
respective successors and assigns.</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:red;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Section 9.3&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><u>Notices</u>.&#160; All notices, requests, instructions or other
documents to be given under this Agreement shall be in writing and shall be
deemed given (a) five (5) business days following sending by registered or
certified mail, postage prepaid, (b) when sent if sent by facsimile; provided,
that the fax is promptly confirmed by telephone confirmation thereof, (c) when
delivered, if delivered personally to the intended recipient, or (d) one (1)
business day following sending by overnight delivery via a national courier
service, and in each case, addressed to a party at the following address for
such party:</p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="93%" style="border-collapse:collapse;margin-left:.5in;width:93.0%;">
 <tr>
  <td width="21%" valign="top" style="padding:0in 0in 0in 0in;width:21.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">if to Parent
  or</font></p>
  </td>
  <td width="78%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:78.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="21%" valign="top" style="padding:0in 0in 0in 0in;width:21.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">to Merger
  Sub, to:</font></p>
  </td>
  <td width="78%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:78.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">825
  Berkshire Boulevard, Suite 200</font></p>
  </td>
 </tr>
 <tr>
  <td width="21%" valign="top" style="padding:0in 0in 0in 0in;width:21.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="78%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:78.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Wyomissing,
  Pennsylvania 19610</font></p>
  </td>
 </tr>
 <tr>
  <td width="21%" valign="top" style="padding:0in 0in 0in 0in;width:21.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="9%" valign="top" style="padding:0in 0in 0in 0in;width:9.4%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Attention:</font></p>
  </td>
  <td width="69%" valign="top" style="padding:0in 0in 0in 0in;width:69.1%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Peter M.
  Carlino</font></p>
  </td>
 </tr>
 <tr>
  <td width="21%" valign="top" style="padding:0in 0in 0in 0in;width:21.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="9%" valign="top" style="padding:0in 0in 0in 0in;width:9.4%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="69%" valign="top" style="padding:0in 0in 0in 0in;width:69.1%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Chief
  Executive Officer</font></p>
  </td>
 </tr>
 <tr>
  <td width="21%" valign="top" style="padding:0in 0in 0in 0in;width:21.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="78%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:78.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Facsimile:
  (610) 373-4966</font></p>
  </td>
 </tr>
 <tr>
  <td width="21%" valign="top" style="padding:0in 0in 0in 0in;width:21.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="78%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:78.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="21%" valign="top" style="padding:0in 0in 0in 0in;width:21.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">with a copy
  to:</font></p>
  </td>
  <td width="78%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:78.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Skadden,
  Arps, Slate, Meagher &amp; Flom LLP</font></p>
  </td>
 </tr>
 <tr>
  <td width="21%" valign="top" style="padding:0in 0in 0in 0in;width:21.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="78%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:78.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Four Times
  Square</font></p>
  </td>
 </tr>
 <tr>
  <td width="21%" valign="top" style="padding:0in 0in 0in 0in;width:21.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="78%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:78.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">New York,
  New York 10036</font></p>
  </td>
 </tr>
 <tr>
  <td width="21%" valign="top" style="padding:0in 0in 0in 0in;width:21.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="78%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:78.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Attention:
  Thomas H. Kennedy, Esquire</font></p>
  </td>
 </tr>
 <tr>
  <td width="21%" valign="top" style="padding:0in 0in 0in 0in;width:21.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="78%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:78.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Facsimile:
  (917) 777-2526</font></p>
  </td>
 </tr>
 <tr>
  <td width="21%" valign="top" style="padding:0in 0in 0in 0in;width:21.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="78%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:78.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="21%" valign="top" style="padding:0in 0in 0in 0in;width:21.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">if to the
  Company, to:</font></p>
  </td>
  <td width="78%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:78.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">219 Piasa
  Street</font></p>
  </td>
 </tr>
 <tr>
  <td width="21%" valign="top" style="padding:0in 0in 0in 0in;width:21.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="78%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:78.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Alton,
  Illinois 62002</font></p>
  </td>
 </tr>
 <tr>
  <td width="21%" valign="top" style="padding:0in 0in 0in 0in;width:21.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="9%" valign="top" style="padding:0in 0in 0in 0in;width:9.4%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Attention:</font></p>
  </td>
  <td width="69%" valign="top" style="padding:0in 0in 0in 0in;width:69.1%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Richard J.
  Glasier</font></p>
  </td>
 </tr>
 <tr>
  <td width="21%" valign="top" style="padding:0in 0in 0in 0in;width:21.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="9%" valign="top" style="padding:0in 0in 0in 0in;width:9.4%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="69%" valign="top" style="padding:0in 0in 0in 0in;width:69.1%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">President
  &amp; Chief Executive Officer</font></p>
  </td>
 </tr>
 <tr>
  <td width="21%" valign="top" style="padding:0in 0in 0in 0in;width:21.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="78%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:78.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Facsimile:
  (618) 474-7693</font></p>
  </td>
 </tr>
 <tr>
  <td width="21%" valign="top" style="padding:0in 0in 0in 0in;width:21.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="78%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:78.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="21%" valign="top" style="padding:0in 0in 0in 0in;width:21.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">with a copy
  to:</font></p>
  </td>
  <td width="78%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:78.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Davis Polk
  &amp; Wardwell</font></p>
  </td>
 </tr>
 <tr>
  <td width="21%" valign="top" style="padding:0in 0in 0in 0in;width:21.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="78%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:78.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">450
  Lexington Ave.</font></p>
  </td>
 </tr>
 <tr>
  <td width="21%" valign="top" style="padding:0in 0in 0in 0in;width:21.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="78%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:78.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">New York,
  New York 10017</font></p>
  </td>
 </tr>
 <tr>
  <td width="21%" valign="top" style="padding:0in 0in 0in 0in;width:21.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="78%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:78.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Attention:
  John J. McCarthy, Jr., Esquire</font></p>
  </td>
 </tr>
 <tr>
  <td width="21%" valign="top" style="padding:0in 0in 0in 0in;width:21.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="78%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:78.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Facsimile:
  (212) 450-3800</font></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">46</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<div style="font-family:Times New Roman;">

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">or to such other address as the person to whom notice is to be given
may have previously furnished to the other in writing in the manner set forth
above.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:red;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Section 9.4&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><u>Governing
Law; Consent to Jurisdiction</u>.&#160; This
Agreement and the legal relations among the parties hereto shall be governed by,
and construed and enforced in accordance with, the Laws of the State of
Delaware, without regard to its conflict of laws rules.&#160; Each party to this Agreement hereby
irrevocably and unconditionally (a) agrees that any action or proceeding
arising out of or in connection with this Agreement shall be brought only in
the Chancery Court of the State of Delaware (the &#147;<u>Delaware Court</u>&#148;), and
not in any other state or federal court in the United States of America or any
court in any other country, (b) consents to submit to the exclusive
jurisdiction of the Delaware Court for purposes of any action or proceeding
arising out of or in connection with this Agreement, (c) agrees that, to the
fullest extent permitted by applicable law, service of any process, summons, notice
or document by U.S. registered mail to such person&#146;s respective address set
forth above shall be effective service of process for any action, suit or
proceeding in Delaware with respect to any matters to which it has submitted to
jurisdiction as set forth in the immediately preceding clause, (d) waives any
objection to the laying of venue of any such action or proceeding in the
Delaware Court, and (e) waives, and agrees not to plead or to make, any claim
that any such action or proceeding brought in the Delaware Court has been
brought in an improper or inconvenient forum or is subject to a jury trial.</p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:red;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Section 9.5&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><u>Descriptive
Headings</u>.&#160; The descriptive headings
herein are inserted for convenience of reference only and are not intended to
be part of or to affect the meaning or interpretation of this Agreement.</p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:red;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Section 9.6&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><u>Parties
in Interest</u>.&#160; Subject to Section
9.2(b), this Agreement shall be binding upon and inure solely to the benefit of
each party hereto and its successors and permitted assigns, and, except as
provided in Section 6.8, nothing in this Agreement, express or implied, is
intended to or shall confer upon any other person (including, without
limitation, past, current or future equity holders or employees of the Company)
any rights, benefits or remedies of any nature whatsoever under or by reason of
this Agreement.</p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:red;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Section 9.7&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><u>Severability</u>.&#160; The provisions of this Agreement shall be
deemed severable and the invalidity or unenforceability of any provision shall
not affect the validity or enforceability of the other provisions hereof.&#160; If any provision of this Agreement, or the
application thereof to any person or any circumstance, is invalid or
unenforceable, (a) a suitable and equitable provision shall be substituted
therefor in order to carry out, so far as may be valid and enforceable, the
intent and purpose of such invalid or unenforceable provision and (b) the
remainder of this Agreement and the application of such provision to other
persons or circumstances shall not be affected by such invalidity or
unenforceability, nor shall such invalidity or unenforceability affect the</p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">47</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#160;validity or enforceability of such provision,
or the application thereof, in any other jurisdiction.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:red;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Section 9.8&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><u>Specific
Performance</u>.&#160; The parties agree that
irreparable damage would occur in the event that any of the provisions of this
Agreement were not performed in accordance with their specific terms or were
otherwise breached. It is accordingly agreed that the parties shall be entitled
to an injunction or injunctions to prevent breaches of this Agreement and to
enforce specifically the terms and provisions of this Agreement, in addition to
any other remedy to which they are entitled at Law or in equity.</p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:red;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Section 9.9&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><u>Counterparts</u>.&#160; This Agreement may be executed in one or more
counterparts, all of which shall be considered one and the same agreement and
shall become effective when one or more counterparts have been signed by each
of the parties and delivered to the other parties.</p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:red;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Section 9.10&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><u>Interpretation</u>.</p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The words &#147;hereof,&#148; &#147;herein,&#148; &#147;hereby&#148;
and &#147;herewith&#148; and words of similar import shall, unless otherwise stated, be
construed to refer to this Agreement as a whole and not to any particular
provision of this Agreement, and article, section, paragraph, exhibit and
schedule references are to the articles, sections, paragraphs, exhibits and
schedules of this Agreement unless otherwise specified.&#160; Whenever the words &#147;include,&#148; &#147;includes&#148; or &#147;including&#148;
are used in this Agreement, they shall be deemed to be followed by the words &#147;without
limitation.&#148; All terms defined in this Agreement shall have the defined
meanings contained herein when used in any certificate or other document made
or delivered pursuant hereto unless otherwise defined therein.&#160; The definitions contained in this Agreement
are applicable to the singular as well as the plural forms of such terms and to
the masculine as well as to the feminine and neuter genders of such terms.&#160; Any agreement, instrument or statute defined
or referred to herein or in any agreement or instrument that is referred to
herein means such agreement, instrument or statute as from time to time,
amended, qualified or supplemented, including (in the case of agreements and instruments)
by waiver or consent and (in the case of statutes) by succession of comparable
successor statutes and all attachments thereto and instruments incorporated
therein.&#160; References to a person are also
to its permitted successors and assigns.</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The phrases &#147;the date of this
Agreement,&#148; &#147;the date hereof&#148; and terms of similar import, unless the context
otherwise requires, shall be deemed to refer to November 3, 2004.</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The parties have participated jointly
in the negotiation and drafting of this Agreement.&#160; In the event an ambiguity or question of
intent or interpretation arises, this Agreement shall be construed as if
drafted jointly by the parties and no presumption or burden of proof shall
arise favoring or disfavoring any party by virtue of the authorship of any
provisions of this Agreement.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">48</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:red;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Section 9.11&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><u>Definitions</u>.</p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#147;<u>Affiliate</u>&#148; means, with
respect to any person or entity, any other person or entity directly or
indirectly controlling, controlled by, or under common control with such person
or entity.</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#147;<u>Code</u>&#148; means the Internal
Revenue Code of 1986, as amended.</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#147;<u>Company Material Adverse Effect</u>&#148;
means any change, condition, circumstance or effect that, individually or in
the aggregate with all other changes, circumstances and effects, is or is
reasonably likely to have a material adverse effect on the business, assets,
results of operations or financial condition of the Company and its
subsidiaries taken as a whole or the ability of the Company to perform its
obligations under this Agreement or consummate the Merger and the other
transactions contemplated hereby; provided, however, that no changes,
circumstances or effects arising from or attributable to</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt .5in;text-indent:1.75in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">(i)&#160;&#160;&#160; general
economic, political or regulatory conditions (A) including any proposed or
adopted Law of general applicability or any other proposal, enactment or action
of general applicability of any Governmental Entity but (B) excluding any Law
or any other action taken by any Governmental Entity which is not an Excluded
Action and either:</font></p>

<p style="color:black;margin:0in 0in .0001pt .5in;text-indent:1.75in;"><font size="2" color="black" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .7in;text-indent:1.8in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(1)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; is
specifically directed at the Company or</font></p>

<p style="margin:0in 0in .0001pt .7in;text-indent:1.8in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .7in;text-indent:1.8in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(2)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; prior
to the receipt of the Company Requisite Vote, has a disproportionate effect on
the Company relative to other participants in the gaming industry in the state
to which such Law or other action applies;</font></p>

<p style="margin:0in 0in .0001pt .7in;text-indent:1.8in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt .5in;text-indent:1.75in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">(ii)&#160;&#160; any
changes in GAAP or interpretations thereof;</font></p>

<p style="color:black;margin:0in 0in .0001pt .5in;text-indent:1.75in;"><font size="2" color="black" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt .5in;text-indent:1.75in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">(iii)&#160; conditions
in the stock or other financial markets generally;</font></p>

<p style="color:black;margin:0in 0in .0001pt .5in;text-indent:1.75in;"><font size="2" color="black" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt .5in;text-indent:1.75in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">(iv) conditions
that affect the gaming industry generally to the extent that such conditions
either (A) do not have an effect on the Company prior to the receipt of the
Company Requisite Vote that is disproportionate relative to the effect such
conditions have on other participants in the gaming industry in the states in
which the Company conducts gaming operations or (B) have any effect on the
Company following the receipt of the Company Requisite Vote; or</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">49</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt .5in;text-indent:1.75in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">(v)&#160;&#160; the
taking of any action contemplated by this Agreement or the announcement of the
existence or terms of this Agreement or the transactions contemplated hereby</font></p>

<p style="color:black;margin:0in 0in .0001pt .5in;text-indent:1.75in;"><font size="2" color="black" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">shall, in any such case, be deemed to
constitute, create or cause a Company Material Adverse Effect.</font></p>

<p style="color:black;margin:0in 0in .0001pt;"><font size="2" color="black" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#147;<u>Excluded Action</u>&#148; means (i)
any adoption or enactment of any Law or any other action of any Governmental
Entity that permits or would permit gaming activities in the state of Kansas,
Kentucky or Ohio or (ii) any grant of, or any proposal to grant, any license or
other permission to conduct gaming activities in any state in which the Company
conducts gaming operations or otherwise increase the type or volume of gaming
activities permitted in any state in which the Company conducts gaming
operations.</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#147;<u>Gaming Authority</u>&#148; means any
Governmental Entity with regulatory control or jurisdiction over the conduct of
lawful gaming or gambling, including, without limitation, the Alcohol and
Gaming Commission of Ontario, the Colorado Division of Gaming, the Colorado
Limited Gaming Control Commission, the Illinois Gaming Board, the Indiana
Gaming Commission, the Iowa Racing and Gaming Commission, the Louisiana Gaming
Control Board, the Maine Harness Racing Commission, the Maine Gambling Control
Board, the Mississippi Gaming Commission, the Mississippi State Tax Commission,
the Missouri Gaming Commission, the New Jersey Racing Commission, the
Pennsylvania State Horse Racing Commission, the Pennsylvania State Harness
Racing Commission, the West Virginia Racing Commission and the West Virginia
Lottery Commission.</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">(f)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#147;<u>Gaming Laws</u>&#148; means any
federal, state, local or foreign statute, ordinance, rule, regulation, permit,
consent, approval, registration, finding of suitability, license, judgment,
order, decree, injunction or other authorization governing or relating to the
current (or, in the case of the Company and its subsidiaries, contemplated)
manufacturing, distribution, casino gambling and gaming activities and
operations of the Company and Parent and their respective subsidiaries,
including, without limitation, the Ontario Gaming Control Act and the rules and
regulations promulgated thereunder, the Illinois Riverboat Act and the rules
and regulations promulgated thereunder, Indiana Code 4, Article 33 and the
rules and regulations promulgated thereunder, Iowa Code Section 99F and the
rules and regulations promulgated thereunder, the Colorado Limited Gaming Act
and the rules and regulations promulgated thereunder, the Louisiana Riverboat
Economic Development and Gaming Control Act and the rules and regulations
promulgated thereunder, 8 Maine Revised Statutes Chapter 11 (Harness Racing)
and the Maine &#147;Governor&#146;s Gambling Control Legislation&#148; (PL 2003, Chapter 687)
and the rules and regulations promulgated thereunder, the Mississippi Gaming
Control Act and the rules and regulations promulgated thereunder, Missouri
Revised Statutes &#167;313 and the rules and regulations promulgated thereunder, the
New Jersey Racing Act of 1940 and the rules and regulations promulgated
thereunder, the Pennsylvania Racing Act and the rules and regulations
promulgated thereunder, the West Virginia Horse and Dog Racing Act and</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">50</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">the rules and regulations
promulgated thereunder and the West Virginia Racetrack Video Lottery Act and
the rules and regulations promulgated thereunder and all applicable local rules
and ordinances.</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">(g)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#147;<u>know</u>&#148; or &#147;<u>knowledge</u>&#148;
means, with respect to any party, the actual knowledge of any executive officer
or director of such party.</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">(h)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#147;<u>lease</u>&#148; means any lease of
property, whether real, personal or mixed, and all amendments thereto, and
shall include without limitation all use of occupancy agreements.</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#147;<u>Parent Material Adverse Effect</u>&#148;
means any change, condition, circumstance or effect that, individually or in
the aggregate with all other changes, circumstances and effects is or is
reasonably likely to have a material adverse effect on (i) the business,
assets, results of operations, or financial condition of Parent and its
subsidiaries taken as a whole (giving effect, for purposes of Section 6.5(d),
to the consummation of the Merger and reflecting the business, assets, results
of operations or financial condition of the Company and its subsidiaries) or
(ii) the ability of Parent or Merger Sub to perform its obligations under this Agreement
or consummate the Merger and the other transactions contemplated hereby.</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">(j)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#147;<u>Permitted Exceptions</u>&#148; means
(i) Liens for current Taxes or other governmental charges not yet due and
payable or delinquent, the amount or validity of which is being contested in
good faith by appropriate proceedings or which may thereafter be paid without
penalty, (ii) such imperfections of title, easements, encumbrances and
mortgages or other Liens, if any, as are not, individually or in the aggregate,
material in character, amount or extent and do not materially detract from the
value, or materially interfere with the present use, of any property subject
thereto or affected thereby, (iii) Liens securing debt for borrowed money of
the underlying fee owner where the Company or a subsidiary of the Company or
Parent or a subsidiary of Parent, as the case may be, is a lessee, (iv) levies
not at the time due or which are being contested in good faith by appropriate
proceedings, (v) mechanics&#146;, materialmen&#146;s, repairmen&#146;s or other like Liens
arising in the ordinary course of business that are not overdue for a period of
more than sixty (60) days, (vi) zoning, entitlement and other land use and
environmental regulations by any Governmental Entity, (vii) purchase money
security interests for gaming equipment, (viii) Liens arising under any
existing agreement of the Company or any of its subsidiaries for borrowed money
or any indenture to which the Company or any of its subsidiaries is a party and
which is a Material Contract and (ix) such other imperfections in title,
charges, easements, restrictions and encumbrances which do not materially
detract from the value of or materially interfere with the present use of any
property subject thereto or affected thereby.</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">(k)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#147;<u>person</u>&#148; means an individual,
corporation, limited liability company, partnership, joint venture,
association, trust, unincorporated organization, other entity or group (as
defined in the Exchange Act).</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">51</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">(l)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#147;<u>real property</u>&#148; means all of
the fee estates and buildings and other fixtures and improvements thereon,
leasehold interests, easements, licenses, rights to access, rights-of-way, and
other real property interests which are owned or used by the Company or any of
its subsidiaries, as of the date hereof, in the operations of the business of
the Company or any of the Company&#146;s subsidiaries, plus such additions thereto
and deletions therefrom arising in the ordinary course of business between the
date hereof and the Closing Date.</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">(m)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#147;<u>subsidiary</u>&#148; means, when used
with reference to any person, any corporation or other organization or entity,
whether incorporated or unincorporated, (i) of which such person or any other
subsidiary of such person is a general or managing partner or (ii) the
outstanding voting securities or interests of, which having by their terms
ordinary voting power to elect a majority of the board of directors or others
performing similar functions with respect to such corporation or other
organization or entity, or which otherwise constitutes 50% or more of the
voting or economic interest in such corporation, organization or entity, is
directly or indirectly owned or controlled by such person or by any one or more
of its subsidiaries.</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">(n)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#147;<u>Superior Proposal</u>&#148; means a
bona fide, unsolicited, written Acquisition Proposal (except that for purposes
of this definition each reference to &#147;twenty percent (20%)&#148; in the definition
of Acquisition Proposal shall be deemed a reference to &#147;fifty percent (50%)&#148;)
other than from Parent or its subsidiaries on terms which a majority of the
members of the Company Board determine in their good faith judgment (after
consultation with the Company Financial Advisor or other nationally-recognized
independent financial advisors) and after taking into account all legal,
financial, regulatory and other material aspects of the Acquisition Proposal,
will result in terms that are more favorable from a financial point of view to
the Company&#146;s stockholders than the Merger (giving effect to any written
proposal by Parent to amend the terms of the Merger) and is reasonably likely
to be consummated.</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:red;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Section 9.12&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><u>Disclosure
Schedules</u>.</p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The parties acknowledge and agree
that the inclusion of any items or information in the Company Disclosure Schedule
that are not required by this Agreement to be so included is solely for the
convenience of Parent, the disclosure by the Company of any matter in the
Company Disclosure Schedule shall not be deemed to constitute an
acknowledgement by the Company that the matter is required to be disclosed by
the terms of this Agreement or that the matter is material, if any section of
the Company Disclosure Schedule lists an item or information in such a way as
to make its relevance to the disclosure required by another section of the
Company Disclosure Schedule readily apparent, the matter shall be deemed to
have been disclosed in such other section, notwithstanding the omission of an
appropriate cross-reference to such other section, headings have been inserted
in the sections of the Company Disclosure Schedule for convenience of reference
only and the Company Disclosure Schedule is qualified in its entirety by
reference to specific provisions of this Agreement, and is not intended to
constitute, and shall not be construed as constituting, representations or
warranties of the Company except as and to the extent provided in this
Agreement.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">52</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
<!-- SEQ.=1,FOLIO='52',FILE='C:\JMS\mugovind\04-12765-1\task214408\12765-1-mo-03.htm',USER='mgovindaraj',CD='Nov  5 05:29 2004' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The parties acknowledge and agree
that the inclusion of any items or information in the Parent Disclosure
Schedule that are not required by this Agreement to be so included is solely
for the convenience of the Company, the disclosure by Parent of any matter in
the Parent Disclosure Schedule shall not be deemed to constitute an acknowledgement
by the Company that the matter is required to be disclosed by the terms of this
Agreement or that the matter is material, if any section of the Parent
Disclosure Schedule lists an item or information in such a way as to make its
relevance to the disclosure required by another section of the Parent
Disclosure Schedule readily apparent, the matter shall be deemed to have been
disclosed in such other section, notwithstanding the omission of an appropriate
cross-reference to such other section, headings have been inserted in the
sections of the Parent Disclosure Schedule for convenience of reference only
and the Parent Disclosure Schedule is qualified in its entirety by reference to
specific provisions of this Agreement, and is not intended to constitute, and
shall not be construed as constituting, representations or warranties of Parent
except as and to the extent provided in this Agreement.</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" color="black" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font style="color:red;text-decoration:none;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Section 9.13&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><u>Joint
and Several Liability</u>.&#160; Parent and
Merger Sub hereby agree that they will be jointly and severally liable for all
covenants, agreements, obligations and representations and warranties made by
either of them in this Agreement.</p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[signature
page follows]</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">53</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
<!-- SEQ.=1,FOLIO='53',FILE='C:\JMS\mugovind\04-12765-1\task214408\12765-1-mo-03.htm',USER='mgovindaraj',CD='Nov  5 05:29 2004' -->


<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">IN WITNESS
WHEREOF, each of the parties has caused this Agreement to be duly executed on
its behalf as of the day and year first above written.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="4" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">PENN NATIONAL GAMING, INC.</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="4" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="4" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.7%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
  </td>
  <td width="25%" colspan="2" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:25.0%;">
  <p style="margin:0in 0in .0001pt .2in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Peter M. Carlino</font></p>
  </td>
  <td width="21%" valign="top" style="padding:0in 0in 0in 0in;width:21.3%;">
  <p style="margin:0in 0in .0001pt .2in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.7%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.48%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>
  </td>
  <td width="39%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:39.82%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Peter M. Carlino</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.7%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.48%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>
  </td>
  <td width="39%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:39.82%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Chief Executive Officer</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.7%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="46%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:46.3%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="4" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="4" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">THOROUGHBRED ACQUISITION CORP.</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="4" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="4" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.7%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
  </td>
  <td width="25%" colspan="2" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:25.0%;">
  <p style="margin:0in 0in .0001pt .2in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Peter M. Carlino</font></p>
  </td>
  <td width="21%" valign="top" style="padding:0in 0in 0in 0in;width:21.3%;">
  <p style="margin:0in 0in .0001pt .2in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.7%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.48%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>
  </td>
  <td width="39%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:39.82%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Peter M. Carlino</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.7%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.48%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>
  </td>
  <td width="39%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:39.82%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Chief Executive Officer</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="4" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="4" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="4" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARGOSY GAMING COMPANY</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="4" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="4" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.7%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
  </td>
  <td width="25%" colspan="2" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:25.0%;">
  <p style="margin:0in 0in .0001pt .2in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Richard J. Glasier</font></p>
  </td>
  <td width="21%" valign="top" style="padding:0in 0in 0in 0in;width:21.3%;">
  <p style="margin:0in 0in .0001pt .2in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.7%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.48%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>
  </td>
  <td width="39%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:39.82%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Richard J. Glasier</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.7%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.48%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>
  </td>
  <td width="39%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:39.82%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">President &amp; Chief Executive<br>
  Officer</font></p>
  </td>
 </tr>
 <tr height="0">
  <td width="374" style="border:none;"></td>
  <td width="28" style="border:none;"></td>
  <td width="48" style="border:none;"></td>
  <td width="139" style="border:none;"></td>
  <td width="159" style="border:none;"></td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

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<TYPE>EX-10.1
<SEQUENCE>3
<FILENAME>a04-12765_1ex10d1.htm
<DESCRIPTION>EX-10.1
<TEXT>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit 10.1</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="35%" valign="top" style="padding:0in 0in 0in 0in;width:35.18%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">DEUTSCHE
  BANK TRUST COMPANY AMERICAS<br>
  DEUTSCHE BANK SECURITIES INC.<br>
  60 Wall Street<br>
  New York, New York 10005</font></b></p>
  </td>
  <td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.34%;">
  <p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">GOLDMAN
  SACHS CREDIT PARTNERS L.P.<br>
  85 Broad Street</font></b><br>
  <b><font style="font-weight:bold;">New York, New York 10004</font></b></p>
  </td>
  <td width="31%" valign="top" style="padding:0in 0in 0in 0in;width:31.48%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">LEHMAN
  COMMERCIAL PAPER INC.<br>
  LEHMAN BROTHERS INC. 745 Seventh Avenue<br>
  New York, New York 10019</font></b></p>
  </td>
 </tr>
</table>

<p align="left" style="font-size:10.0pt;margin:0in 0in .0001pt;page-break-after:auto;text-align:left;"><font face="Times New Roman">&nbsp;</font></p>

<p align="left" style="font-size:10.0pt;margin:0in 0in .0001pt;page-break-after:auto;text-align:left;"><font face="Times New Roman">&nbsp;</font></p>

<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">November 3,
2004</font></p>

<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Penn National
Gaming, Inc.<br>
825 Berkshire Boulevard<br>
Suite 200<br>
Wyomissing, Pennsylvania 19610</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="11%" valign="top" style="padding:0in 0in 0in 0in;width:11.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Attention:</font></p>
  </td>
  <td width="88%" valign="top" style="padding:0in 0in 0in 0in;width:88.78%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">William J.
  Clifford,</font></p>
  </td>
 </tr>
 <tr>
  <td width="11%" valign="top" style="padding:0in 0in 0in 0in;width:11.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="88%" valign="top" style="padding:0in 0in 0in 0in;width:88.78%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Senior Vice
  President Finance and</font></p>
  </td>
 </tr>
 <tr>
  <td width="11%" valign="top" style="padding:0in 0in 0in 0in;width:11.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="88%" valign="top" style="padding:0in 0in 0in 0in;width:88.78%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp; Chief Financial Officer</font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Re:&#160; <u>Acquisition Financing - Senior Secured
Financing Commitment Letter</u></font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Ladies and
Gentlemen:</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Penn National Gaming, Inc., a Pennsylvania
corporation (&#147;<u>you</u>&#148; or the &#147;<u>Borrower</u>&#148;), has informed Deutsche Bank
Trust Company Americas (&#147;<u>DBTCA</u>&#148;), Deutsche Bank Securities Inc. (&#147;<u>DBSI</u>&#148;
and, together with DBTCA, &#147;<u>DB</u>&#148;), Goldman Sachs Credit Partners L.P.</font> (&#147;<u>GSCP</u>&#148;), Lehman Brothers Inc. (&#147;<u>LBI</u>&#148;) and
Lehman Commercial Paper Inc. (&#147;<u>LCPI</u>&#148; and, together with LBI, &#147;<u>Lehman</u>&#148;)
that: (i) you intend to enter into a merger agreement (the &#147;<u>Acquisition
Agreement</u>&#148;) with Argosy Gaming Company, a Delaware corporation (&#147;<u>Target</u>&#148;),
pursuant to which you will acquire through merger (the &#147;<u>Acquisition</u>&#148;)
all of the capital stock of Target for cash and a newly created wholly-owned
subsidiary of yours will be merged with and into Target, with Target as the
surviving entity); (ii) at the time of or prior to the consummation of the
Acquisition, you will repay or cause to be repaid all outstanding borrowings
and other obligations owing under your existing credit facilities (the &#147;<u>Existing
Borrower Facilities</u>&#148;) and you shall terminate or cause to be terminated all
commitments under the Existing Borrower Facilities in connection therewith (the
&#147;<u>Borrower Refinancing</u>&#148;); (iii) at the time of the consummation of the Acquisition,
you will repay or cause to be repaid all outstanding borrowings and other obligations
owing under the existing credit facilities of Target and its subsidiaries (the &#147;<u>Existing
Target Facilities</u>&#148;) and all commitments thereunder shall be terminated in
connection therewith; and (iv) (A) on the Closing Date (defined below), you
will cause Target to either (x) consummate cash tender offers for not less than
a majority of each of Target&#146;s 7% senior subordinated notes due 2014 and Target&#146;s
9% senior subordinated notes due 2011 (collectively, the &#147;<u>Existing Target
Notes</u>&#148;) at a price not exceeding that reflected in the sources and uses of
funds described herein, plus accrued and unpaid interest, and, in connection
therewith, Target will obtain consents to eliminate all significant restrictive
covenants from the indentures governing the Existing Target Notes (the &#147;<u>Existing
Target Notes Indentures</u>&#148;) or (y) otherwise redeem, repurchase, retire or defease
the Existing Target Notes with the same effect as set forth in the preceding
subclause (x) (the transactions referred to in this clause (A) are the &#147;<u>Target
Notes Tender/Consent</u>&#148;) and (B) to the extent any Existing Target Notes
remain outstanding following the Closing Date, Target will</p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

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</font></div>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">commence change of control offers,
as and to the extent required, under the terms of the Existing Target Notes
Indentures at a price of 101% of the principal amount thereof, plus accrued and
unpaid interest (the &#147;<u>Target Notes COC Offers</u>&#148;).&#160;&#160; The transactions described in preceding
clauses (iii) and (iv) being herein collectively referred to as the &#147;<u>Target
Refinancing</u>&#148; and the Borrower Refinancing and the Target Refinancing are collectively
referred to as the &#147;<u>Refinancing</u>&#148;.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">For purposes of this Commitment Letter, (i)
DB, GSCP and Lehman are collectively referred to as the &#147;<u>Banks</u>, &#147;<u>we</u>&#148;
or &#147;<u>us</u>&#148; and, individually as a &#147;<u>Bank</u>&#148;; (ii) DBTCA, GSCP and LCPI
are collectively referred to as the &#147;<u>Commitment Banks</u>&#148;; and (iii) DBSI,
GSCP and LBI are collectively referred to as the &#147;Arrangers&#148;.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">It is our understanding that (w) the purchase
price for the equity and equity equivalents to be paid to effect the Acquisition
shall not exceed approximately $1,410.4 million, (x) the amount to effect the
Refinancing (including premiums but not accrued interest) shall be
approximately $1,195.2 million (of which approximately $575.2 million will be
in respect of the Existing Borrower Facilities and the Existing Target
Facilities and the balance will be in respect of the Existing Target Notes
(assuming 100% are tendered in the Target Notes Tender/Consent)), (y) the fees,
expenses and severance costs payable in connection with the Transaction (as
defined below) will not exceed approximately $141.5 million (which assumes a
Two Phase Syndication (as defined below)) and (z) after giving effect to the
Target Refinancing to be effected on the Closing Date, Target and its
subsidiaries shall be acquired free of all indebtedness and preferred stock,
except for (1) those Existing Target Notes not paid pursuant to the Target
Notes Tender/Consent, (2) intercompany indebtedness in amounts reasonably
acceptable to the Arrangers, <u>provided</u> such intercompany indebtedness
shall be subordinated to the Senior Secured Financing (defined below) to the
reasonable satisfaction of the Arrangers to the extent not prohibited by
applicable gaming laws, and (3) such exceptions (if any) for any other existing
indebtedness as may be agreed to by the Arrangers in their reasonable
discretion.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In order to finance the Acquisition and the
Refinancing, to pay the fees and expenses incurred in connection with the
Transaction, and to provide for the working capital needs and general corporate
requirements of the Borrower and its subsidiaries after giving effect to the
Acquisition, it is presently contemplated that the Borrower shall (i) utilize
cash on hand not to exceed approximately $15.8 million and (ii) obtain senior
secured credit facilities in the aggregate amount of $2.9 billion (the &#147;<u>Senior
Secured Financing</u>&#148;) (with the transactions described in preceding clauses
(i) and (ii) being herein collectively referred to as the &#147;<u>Financing
Transactions</u>&#148; and, together with the Acquisition and the Refinancing and
the fees and expenses payable in connection with the foregoing, being herein
referred to as the &#147;<u>Transaction</u>&#148;).</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The sources of funds needed to effect the
Acquisition and the Refinancing, as well as to pay all fees and expenses incurred
in connection with the Transaction, shall be provided solely through the
Financing Transactions.&#160; It is understood
further that the Senior Secured Financing shall consist of the following: (i) a
$400 million &#147;A&#148; term loan facility (the &#147;<u>A Term Loan Facility</u>&#148;); (ii) a
$1,750 million &#147;B&#148; term loan facility (the &#147;<u>B Term Loan Facility</u>&#148; and,
together with the A Term Loan Facility, the &#147;<u>Term Loan Facilities</u>&#148;); and
(iii) a $750 million revolving credit facility (the &#147;<u>Revolving Credit
Facility</u>&#148; and, together with the Term Loan Facilities, the &#147;<u>Credit Facilities</u>&#148;).&#160; It is also understood that: (A) (x) all of
the A Term Loan Facility</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">shall be drawn on the closing
date of the Acquisition (the &#147;<u>Closing Date</u>&#148;) and (y) up to $1,750
million of the B Term Loan Facility shall be drawn on the Closing Date, in each
case with respect to clauses (x) and (y), to effect the Acquisition and the
Refinancing (assuming 100% of the Existing Target Notes are tendered pursuant
to the Existing Target Notes/Repurchase Transactions) and to pay fees and
expenses incurred in connection with the Transaction; <u>provided</u>, <u>however</u>,
that, if the Pocono Downs Sale (as defined in the Term Sheet referred to below)
has been completed concurrent with or prior to the Closing Date, then the
aggregate amounts of the Pocono A Term Loan Commitment Tranche and the Pocono B
Term Loan Commitment Tranche (as such terms are defined in the Term Sheet) or
any part thereof shall not be available to be drawn at any time; (B) not more
than approximately $662.5 million of the proceeds of the Revolving Credit
Facility may be used to make payments owing to effect the Acquisition and the
Refinancing and to pay fees and expenses incurred in connection with the
Transaction; and (C) such unutilized portion of the B Term Loan Facility as may
be required (if any) under the existing terms of the applicable indentures to
fund the Target Notes COC Offers following the Closing Date but no later than
90 days following the Closing Date may be used to effect the Target Notes COC
Offers and, to the extent not so used during such period, shall not be
available at any time.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Notwithstanding the foregoing or anything
else herein to the contrary, the Arrangers (after consultation with the
Borrower and subject to applicable regulatory approvals) may require that the
Credit Facilities be structured to permit the following: (1) funds necessary
for the Borrower Refinancing and the working capital needs of the Borrower and
its subsidiaries without giving effect to the Acquisition will be made
available significantly prior to the Acquisition and as soon as practicable
after requested by the Arrangers; (2) two separate syndications of the
commitments hereunder may occur at separate times &#151; one to effectuate the
Borrower Refinancing as provided under the preceding clause (1) and one to
effectuate the balance of the syndication of the commitments; (3) the
documentation for the Credit Facilities will be structured to permit the
multiple and delayed drawings reflected in the foregoing with appropriate
adjustments required by the Arrangers (after consultation with the Borrower) to
effectuate the foregoing that are not otherwise inconsistent with the terms
herein and in the Term Sheet and the Fee Letter and the term &#147;Closing Date&#148;
herein and in the Term Sheet and the Fee Letter shall include the initial funding
date to the extent appropriate; and (4) an amendment and restatement (or a
replacement facility consistent with this Commitment Letter and the Term Sheet
if the requisite votes to approve an amendment and restatement are not
obtainable) of the documentation of the Credit Facilities put in place for the
Borrower Refinancing may be required to facilitate and reflect the second phase
of the syndication.&#160; The actions and
revisions necessary to effectuate the foregoing are referred to herein as the &#147;<u>Two
Phase Syndication</u>.&#148;&#160; In addition, it
is understood that the Borrower will continue to review and consider the extent
to which the subject debt of the Refinancing (other than the Existing Borrower
Facilities and the Existing Target Facilities) should be modified and the
Arrangers will work with the Borrower in such review and consider alternatives,
all subject to the Arrangers&#146; prior written consent, which would require
mutually agreed modifications to the amounts and possibly structure of the
Credit Facilities.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A summary of certain of the terms and
conditions of the Senior Secured Financing is set forth in <u>Exhibit A</u>
attached hereto (the &#147;<u>Term Sheet</u>&#148;).&#160;
Please note that those matters that are not covered or made clear herein
or in the Term Sheet or in the related fee letter of even</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">date herewith among the parties
hereto (the &#147;<u>Fee Letter</u>&#148;) are subject to mutual agreement of the parties
hereto; <u>provided</u>, that any additional terms shall be consistent with
this Commitment Letter, the Term Sheet and the Fee Letter.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">DBTCA is pleased to confirm that, subject to
the terms and conditions set forth herein and in the Term Sheet and the Fee
Letter, it hereby severally commits to provide one-third of the aggregate
principal amount of each of the Credit Facilities.&#160; GSCP is pleased to confirm that, subject to
the terms and conditions set forth herein and in the Term Sheet and the Fee
Letter, it hereby severally commits to provide one-third of the aggregate
principal amount of each of the Credit Facilities.&#160; LCPI is pleased to confirm that, subject to
the terms and conditions set forth herein and in the Term Sheet and the Fee
Letter, it hereby severally commits to provide one-third of the aggregate principal
amount of each of the Credit Facilities.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">DBSI is pleased to confirm that, subject to
the terms and conditions set forth herein and in the Term Sheet and the Fee Letter,
it will act as joint lead arranger and joint book running manager for the
Senior Secured Financing.&#160; GSCP is pleased
to confirm that, subject to the terms and conditions set forth herein and in
the Term Sheet and the Fee Letter, it will act as joint lead arranger, joint
book running manager and co-syndication agent for the Senior Secured
Financing.&#160; LBI is pleased to confirm
that, subject to the terms and conditions set forth herein and in the Term
Sheet and the Fee Letter, it will act as joint lead arranger and joint book
running manager for the Senior Secured Financing.&#160; LCPI is please to confirm that, subject to
the terms and conditions set forth herein and in the Term Sheet and the Fee
Letter, it will act as co-syndication agent for the Senior Secured Facilities.&#160; DBTCA is pleased to confirm that, subject to
the terms and conditions set forth herein and in the Term Sheet and the Fee
Letter, it will act as the sole and exclusive administrative agent for the
Senior Secured Financing.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">At the option of the Arrangers
(collectively), any Bank and/or one or more affiliates thereof may also be designated
as &#147;Documentation Agent&#148; or such other titles as may be deemed appropriate or
desirable by the Arrangers.&#160;
Notwithstanding anything to the contrary contained above in this
paragraph, in connection with the syndication of the Senior Secured Financing,
the Arrangers shall have the right (in consultation with you) to award one or
more of the roles or titles described above, or such other titles as may be
determined by the Arrangers, to one or more other Lenders or affiliates
thereof, in each case as determined by the Arrangers in their sole
discretion.&#160; It is agreed that DB&#146;s names
shall receive &#147;top-left&#148; placement on any marketing materials in connection
with the Senior Secured Financing.&#160; You
agree that, except as contemplated by the immediately preceding three
sentences, no other agents, co-agents or arrangers will be appointed, no other
titles will be awarded and no compensation (other than that expressly contemplated
by the Term Sheet and the Fee Letter) will be paid in connection with the
Senior Secured Financing unless you and the Arrangers shall so agree.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We reserve the right, prior to or after
execution of the definitive credit documentation for the Senior Secured Financing,
to syndicate all or part of our commitments hereunder to one or more other
Lenders (other than certain funds or institutions previously identified to us
by the Borrower and agreed to by us)<b><font style="font-weight:bold;"> </font></b>that will
become party to such definitive credit documentation pursuant to a syndication
to be managed by the Arrangers.&#160; You
agree that, upon delivery to the Arrangers by another Lender (which is a
reputable fund or financial institution) of a commitment</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">letter in writing for the
benefit of the Borrower for all or a portion of the Senior Secured Financing
containing terms no less favorable to the Borrower than the terms hereof, the
Commitment Banks shall be fully relieved of their respective obligations
hereunder to the extent of the commitments set forth in such commitment letter
pro rata based on their respective commitments with respect to the Senior
Secured Financing.<b><font style="font-weight:bold;"> </font></b>&#160;&#160;All aspects of the syndication of the Senior
Secured Financing, including, without limitation, timing, potential syndicate
members to be approached, titles, allocations and division of fees, shall be
determined by the Arrangers in consultation with you.&#160; You agree to actively assist the Arrangers in
such syndication, including by using your commercially reasonable efforts to
ensure that the Arrangers&#146; syndication efforts benefit from your existing lending
relationships and to provide the Arrangers and the Lenders, promptly upon
request, with all information reasonably deemed necessary by the Arrangers to
complete successfully the syndication, including, but not limited to, (a) an
information package for delivery to potential syndicate members and
participants and (b) projections prepared by you or your affiliates or advisors
relating to the transactions described herein.&#160;
You also agree to make available your senior officers and
representatives, and to use commercially reasonable efforts to cause the senior
officers and representatives of Target and its subsidiaries, to be available,
in each case from time to time and to attend and make presentations regarding
the business and prospects of Target and its subsidiaries at a meeting or
meetings of Lenders or prospective Lenders at such times and places as the
Arrangers may reasonably request.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">You represent, warrant and covenant that no
written information (including written reports filed with the SEC which we have
reviewed prior to the date hereof for purposes of evaluating the Transaction)
(to your knowledge with respect to written information and as to written
reports filed with the SEC pertaining to Target and its subsidiaries) which has
been or is hereafter furnished by you or on your behalf in connection with the
transactions contemplated hereby (such written information being referred to
herein collectively as the &#147;<u>Information</u>&#148;) taken as a whole contained
(or, in the case of Information furnished after the date hereof, will contain),
as of the time it was (or hereafter is) furnished, any material misstatement of
fact or omitted (or will omit) as of such time to state any material fact
necessary to make the statements therein taken as a whole not materially
misleading, in the light of the circumstances under which they were (or
hereafter are) made; <u>provided</u> that, with respect to Information
consisting of statements, estimates and projections regarding the future
performance of the Borrower, Target and their respective subsidiaries(1)
(collectively, the &#147;<u>Projections</u>&#148;), no representation, warranty or
covenant is made other than that the Projections have been (and, in the case of
Projections furnished after the date hereof, will be) prepared in good faith based
on assumptions believed to be reasonable at the time of preparation thereof (it
being understood that the Projections are subject to contingencies and
assumptions, many of which are beyond the control of the Borrower, and no
assurance can be given that the Projections will be realized).&#160; You agree to supplement the Information and
the Projections from time to time until the date of the initial borrowing under
the Senior Secured Financing,</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="1" width="25%" noshade color="black" align="left">

</font></div>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(1)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Unless
the context expressly requires otherwise, all references to subsidiaries in the
Term Sheet, the Commitment Letter and the Fee Letter shall exclude the
Unrestricted Group (as defined in the Term Sheet).</p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">as appropriate, so that the
representations and warranties in the preceding sentence remain correct in all
material respects (it being acknowledged and agreed that such supplements are
not subject to our approval and shall not affect the accuracy of any previous
representation and warranty as of the time just made).&#160; You understand that, in syndicating the
Senior Secured Financing, we will use and rely on the Information and the
Projections without independent verification thereof.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Each Bank&#146;s commitments and agreements
hereunder are subject to (a) since November 3, 2004, there not occurring any
Target Material Adverse Effect (as defined below), (b) the Arrangers&#146;
reasonable satisfaction that, after the date hereof until the earlier of (i)
the successful syndication of the Senior Secured Financing and (ii) 90 days
after the Closing Date, there shall be no competing offering, placement or
arrangement of any debt securities or bank financing (other than the Permitted
Financings) (defined below) by or on behalf of the Borrower or any of its
subsidiaries that could reasonably be expected to disrupt, interfere with or
affect the syndication of the Credit Facilities or any part thereof, (c) you
shall not be in breach of the Fee Letter in any material respect, and (d) the
other conditions set forth or referred to herein and in the Term Sheet.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">As used above, &#147;<u>Target Material Adverse
Effect</u>&#148; means any change, condition, circumstance or effect that, individually
or in the aggregate with all other changes, circumstances and effects, is or is
reasonably likely to have a material adverse effect on the business, assets,
results of operations or financial condition of Target and its subsidiaries,
taken as a whole,<b><i><font style="font-style:italic;font-weight:bold;"> </font></i></b>or the ability of Target to
perform its obligations under the Acquisition Agreement or consummate the other
transactions contemplated thereby; <u>provided</u>, <u>however</u>, that no
changes, circumstances or effects arising from or attributable to (i) general
economic, political or regulatory conditions (A) including any proposed or
adopted Law (as defined below) of general applicability or any other proposal,
enactment or action of general applicability of any Governmental Entity (as
defined below) but (B) excluding any Law or any other action, taken by any
Governmental Entity which is not an Excluded Action (as defined below) and
either: (1) is specifically directed at Target; or (2) prior to the receipt of
the Target Requisite Vote (as defined below), has a disproportionate effect on
the Target relative to other participants in the gaming industry in the state
to which such Law or other action applies; (ii) any changes in GAAP or
interpretations thereof; (iii) conditions in the stock or other financial
markets generally; (iv) conditions that affect the gaming industry generally to
the extent that such conditions either (A) do not have an effect on the Target
prior to the receipt of the Target Requisite Vote that is disproportionate
relative to the effect such conditions have on other participants in the gaming
industry in the states in which the Target conducts gaming operations or (B)
have any effect on the Target following the receipt of the Target Requisite
Vote; or (v) the taking of any action contemplated by the Acquisition Agreement
or the announcement of the existence or terms of the Acquisition Agreement or
the transactions contemplated thereby shall, in any such case, be deemed to
constitute, create or cause a Target Material Adverse Effect.&#160; As used above, &#147;<u>Permitted Financings</u>&#148;
means, collectively, the following: (x) the Credit Facilities (including the
Uncommitted Incremental Loan Commitment (as defined in the Term Sheet)) and (y)
any issuance of senior subordinated debt securities to refinance or otherwise
replace the Borrower&#146;s 11<sup>1</sup>/<sub>8</sub>% Senior Subordinated Notes
due 2008.&#160; As used above, (i) &#147;<u>Excluded
Action</u>&#148; means (x) any adoption or enactment of any Law or any other action
of any Governmental Entity that permits or would permit gaming activities in
the state of</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Kansas, Kentucky or Ohio or (y)
any grant of, or any proposal to grant, any license or other permission to
conduct gaming activities in any state in which the Target conducts gaming
operations or otherwise increase the type or volume of gaming activities
permitted in any state in which the Target conducts gaming operations; (ii) &#147;<u>Governmental
Entity</u>&#148; means any court or tribunal or administrative, legislative, governmental
or regulatory body, agency or authority; (iii) &#147;<u>Law</u>&#148; means any foreign
or domestic law, order, writ, injunction, decree, ordinance, award, stipulation,
statute, compact with any tribe, judicial or administrative doctrine, rule or
regulation entered by a Governmental Entity including Gaming Laws (defined
below); (iv) &#147;<u>Target Requisite Vote</u>&#148; means the affirmative approval of
the holders of shares of Target representing a majority of the votes that are
entitled to be cast by the holders of all outstanding shares of Target (voting
as a single class) as of the record date set for Target shareholder vote on the
Acquisition; and (v) &#147;<u>Gaming Laws</u>&#148; means any federal, state, local or
foreign statute, ordinance, rule, regulation, permit, consent, approval, registration,
finding of suitability, license, judgment, order, decree, injunction or other
authorization governing or relating to the current (or, in the case of Target
and its subsidiaries, contemplated) manufacturing, distribution, casino
gambling and gaming activities and operations of Target and the Borrower and
their respective subsidiaries, including, without limitation, the Ontario
Gaming Control Act and the rules and regulations promulgated thereunder, the
Illinois Riverboat Act and the rules and regulations promulgated thereunder,
Indiana Code 4, Article 33 and the rules and regulations promulgated
thereunder, Iowa Code Section 99F and the rules and regulations promulgated
thereunder, the Colorado Limited Gaming Act and the rules and regulations
promulgated thereunder, the Louisiana Riverboat Economic Development and Gaming
Control Act and the rules and regulations promulgated thereunder, 8 Maine Revised
Statutes Chapter 11 (Harness Racing) and the Maine &#147;Governor&#146;s Gambling Control
Legislation&#148; (PL 2003, Chapter 687) and the rules and regulations promulgated
thereunder, the Mississippi Gaming Control Act and the rules and regulations
promulgated thereunder, Missouri Revised Statutes &#167;313 and the rules and
regulations promulgated thereunder, the New Jersey Racing Act of 1940 and the
rules and regulations promulgated thereunder, the Pennsylvania Racing Act and
the rules and regulations promulgated thereunder, the West Virginia Horse and
Dog Racing Act and the rules and regulations promulgated thereunder and the
West Virginia Racetrack Video Lottery Act and the rules and regulations
promulgated thereunder and all applicable local rules and ordinances.&#160; For purposes of this paragraph, the term &#147;subsidiaries&#148;
as used in this paragraph as it relates to Target shall include all
subsidiaries of Target (including its &#147;Unrestricted Subsidiaries&#148; (as defined
in the Term Sheet) and as it relates to the Borrower shall include all
subsidiaries of the Borrower (including its &#147;Unrestricted Subsidiaries.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">To induce the Banks to issue this letter
(together with the Term Sheet, this &#147;<u>Commitment Letter</u>&#148;) and to proceed
with the documentation of the proposed Senior Secured Financing, you hereby
agree that all reasonable fees and expenses (including the reasonable fees and
expenses of counsel<b><font style="font-weight:bold;"> </font></b>and
consultants reasonably agreed to by you ) of the Banks and their respective
affiliates arising in connection with this Commitment Letter and in connection
with the Transaction and other transactions described herein (including in
connection with our due diligence and syndication efforts) shall be for your
account whether or not the Transaction is consummated or the Senior Secured
Financing is made available or definitive credit documents are executed; <u>provided</u>,
<u>however</u>, that, notwithstanding the foregoing, you shall only be liable
for fees and expenses of one counsel for the Banks and their respective affiliates
arising in connection with any Notes Offering (as defined in the Fee Letter) in
an amount not to exceed an amount</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">as agreed to in any engagement
letter you may enter into with the Arrangers (or, in the case of GSCP, Goldman,
Sachs &amp; Co.) in respect of such Notes Offering.&#160;&#160; You further agree to indemnify and hold
harmless each Bank and each agent or co-agent (if any) designated by the
Arrangers with respect to the Senior Secured Financing (each, an &#147;<u>Agent</u>&#148;)
and their respective affiliates and each of their respective directors,
officers, employees, representatives and agents (each, an &#147;<u>Indemnified
Person</u>&#148;) from and against any and all actions, suits, proceedings
(including any investigations or inquiries), claims, losses, damages, liabilities
or expenses of any kind or nature whatsoever which may be incurred by or
asserted against or involve any such Indemnified Person as a result of or
arising out of or in any way related to or resulting from the Transaction or
this Commitment Letter and, upon demand, to pay and reimburse each Indemnified
Person for any legal or other out-of-pocket expenses incurred in connection
with investigating, defending or preparing to defend any such action, suit,
proceeding (including any inquiry or investigation) or claim (whether or not
any Indemnified Person is a party to any action or proceeding out of which any
such expenses arise); <u>provided</u>, <u>however</u>, that you shall not have
to indemnify any Indemnified Person against any loss, claim, damage, expense or
liability to the extent same resulted from the gross negligence or willful
misconduct of such Indemnified Person or any of its affiliates or a material
breach by such Indemnified Person or any of its affiliates of its respective
obligations to provide financing under this Commitment Letter.&#160; This Commitment Letter is issued for your benefit
only and no other person or entity may rely hereon.&#160; No Indemnified Person shall be responsible or
liable to you or any other person or entity for (x) any determination made by
it pursuant to this Commitment Letter in the absence of gross negligence,
willful misconduct or material breach of any Indemnified Person&#146;s respective
obligations to provide financing under this Commitment Letter on the part of
such person or entity or (y) any punitive or consequential damages constituting
loss of profits, business or anticipated savings which may be alleged as a
result of this Commitment Letter or the financing contemplated hereby.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Each Bank reserves the right to employ the
services of any of its affiliates (including, in the case of DB, Deutsche Bank
AG) in providing services contemplated by this Commitment Letter and to
allocate, in whole or in part, to its affiliates certain fees payable to such
Bank in such manner as such Bank and its affiliates may agree in their sole
discretion.&#160; You also agree that each
Commitment Bank may at any time and from time to time assign all or any portion
of its commitments hereunder to one or more of its affiliates (provided the
assigning Commitment Bank remains obligated to fund such commitment if such
assignee affiliate fails to fund, subject, however, to the terms and conditions
set forth in this Commitment Letter (including the Term Sheet)).&#160; You further acknowledge that we may share
among us and/or our respective affiliates, and such affiliates may share with
any of us, any information related to the Transaction, the Borrower, Target and
their respective subsidiaries and affiliates, or any of the matters
contemplated hereby, provided such affiliates are bound by the confidentiality
provisions provided in the next sentence.&#160;
Each Bank agrees to treat, and cause any such affiliate of such Bank to
treat, all non-public information provided to it by the Borrower as
confidential information in accordance with customary banking industry
practices and agrees not to use such information for any purpose other than in
connection with performing the services required to be performed by it under
this Commitment Letter.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">You agree that this Commitment Letter and the
Fee Letter are for your confidential use only and that, unless we have otherwise
consented, neither its existence nor the terms</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">hereof will be disclosed by you
to any person or entity other than your officers, directors, employees,
accountants, attorneys and other advisors, and then only on a &#147;need to know&#148;
basis in connection with the transactions contemplated hereby and on a
confidential basis.&#160; Notwithstanding the
foregoing, you shall be permitted to furnish a copy hereof to Target and its
advisors on a confidential basis in connection with the proposed Acquisition
and, following your acceptance of the provisions hereof and your return of an
executed counterpart of this Commitment Letter and the Fee Letter to us as
provided below, (i) you may make public disclosure of the existence and amount
of the commitments hereunder and of the identity of the Administrative Agent
and the Arrangers (defined in the Term Sheet), (ii) you may file a copy of this
Commitment Letter (but not the Fee Letter) in any public record in which it is
required by law to be filed and (iii) you may make such other public disclosure
of the terms and conditions hereof as, and to the extent, you are required by
law, in the opinion of your counsel, to make.&#160;
If this Commitment Letter is not accepted by you as provided below,
please immediately return this Commitment Letter (and any copies hereof) to the
undersigned.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">You hereby represent and acknowledge that, to
the best of your knowledge, no Bank, nor any employees or agents of, or other
persons affiliated with, such Bank, have directly or indirectly made or
provided any statement (oral or written) to you or to any of your employees or
agents, or other persons affiliated with or related to you (or, so far as you
are aware, to any other person), as to the potential tax consequences of the
Transaction.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The provisions of the four immediately
preceding paragraphs shall survive any termination of this Commitment Letter (except
as provided below).&#160; The compensation,
reimbursement, indemnification and confidentiality provisions contained herein
and in the Fee Letter any other provision herein or therein which by its terms
expressly survives the termination of this Commitment Letter shall remain in
full force and effect regardless of whether definitive credit documentation
shall be executed and delivered and notwithstanding the termination of this
Commitment Letter or the commitments hereunder; <u>provided</u><i><font style="font-style:italic;">,</font></i> that your
obligations under this Commitment Letter relating to indemnification shall
automatically terminate and be superseded by the provisions of the definitive
documentation relating to the Credit Facilities upon the initial funding
thereunder, to the extent such indemnification covers the same matters as
provided for herein and you shall automatically be released from all
indemnification obligations under this Commitment Letter to such extent.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This Commitment Letter and the Fee Letter
(and your rights and obligations hereunder and thereunder) shall not be assignable
by you to any person or entity without the prior written consent of all the
Banks (and any purported assignment without such consent shall be null and
void).&#160; This Commitment Letter and the
Fee Letter may not be amended or waived except by an instrument in writing
signed by you and all the Banks.&#160; Each of
this Commitment Letter and the Fee Letter may be executed in any number of
counterparts, each of which shall be an original and all of which, when taken
together, shall constitute one agreement.&#160;
Delivery of an executed signature page of this Commitment Letter or the
Fee Letter by facsimile transmission shall be effective as delivery of a
manually executed counterpart hereof or thereof, as the case may be.&#160; This Commitment Letter and the Fee Letter
shall be governed by, and construed in accordance with, the laws of the State
of New York.&#160; This Commitment Letter and
the Fee Letter</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">set forth the entire agreement
between the parties hereto as to the matters set forth herein and supersede all
prior communications, written or oral, with respect to the matters herein.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">EACH OF THE PARTIES HERETO HEREBY WAIVES ANY
RIGHT TO TRIAL BY JURY WITH RESPECT TO ANY CLAIM, ACTION, SUIT OR PROCEEDING
ARISING OUT OF OR CONTEMPLATED BY THIS COMMITMENT LETTER OR THE FEE
LETTER.&#160; YOU HEREBY SUBMIT TO THE
NON-EXCLUSIVE JURISDICTION OF THE FEDERAL AND NEW YORK STATE COURTS LOCATED IN
THE COUNTY OF NEW YORK IN CONNECTION WITH ANY DISPUTE RELATED TO THIS COMMITMENT
LETTER, THE FEE LETTER OR ANY MATTERS CONTEMPLATED HEREBY OR THEREBY.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Each Bank&#146;s willingness, and each Bank&#146;s
commitments and agreements, with respect to the Senior Secured Financing as set
forth herein will terminate on the first to occur of (x) November 5, 2004,
unless on or prior to such date the Acquisition Agreement has been entered into
(with Target or its relevant affiliates), (y) December 31, 2005, unless on or
prior to such date the Transaction has been consummated and a definitive credit
agreement evidencing the Senior Secured Financing, in form and substance
reasonably satisfactory to the Banks, shall have been entered into and the
initial borrowings shall have occurred thereunder, or (z) any time after the
execution of the Acquisition Agreement and prior to the consummation of the
Transaction, the date of the termination of the Acquisition Agreement (other
than with respect to ongoing indemnities, confidentiality provisions and
similar provisions); <u>provided</u><i><font style="font-style:italic;">,</font></i> that your obligations under this Commitment Letter
relating to indemnification shall automatically terminate and be superseded by
the provisions of the definitive documentation relating to the Credit Facilities
upon the initial funding thereunder, to the extent such indemnification covers
the same matters as provided for herein and you shall automatically be released
from all indemnification obligations under this Commitment Letter to such
extent.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[Signature Pages Follow]</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If you are in agreement with the foregoing,
please sign and return to each Bank the enclosed copy of this Commitment Letter,
together with a copy of the enclosed Fee Letter, no later than 5:00 p.m., New
York time, on November 5, 2004.&#160; Unless
this Commitment Letter and the Fee Letter are signed and returned by the time
and date provided in the immediately preceding sentence, this Commitment Letter
shall terminate at such time and date.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.08%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:50.92%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Very truly yours,</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.08%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="45%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:45.36%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.08%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:50.92%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">DEUTSCHE BANK TRUST COMPANY<br>
  AMERICAS</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.08%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="45%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:45.36%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.08%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
  </td>
  <td width="23%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:23.14%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Steven P. Lapham</font></p>
  </td>
  <td width="22%" valign="top" style="padding:0in 0in 0in 0in;width:22.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.08%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="45%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:45.36%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name: Steven P. Lapham</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.08%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="45%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:45.36%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title: Managing Director</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.08%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="45%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:45.36%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.08%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:50.92%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">DEUTSCHE BANK SECURITIES INC.</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.08%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="45%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:45.36%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.08%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
  </td>
  <td width="23%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:23.14%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Steven P. Lapham</font></p>
  </td>
  <td width="22%" valign="top" style="padding:0in 0in 0in 0in;width:22.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.08%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="45%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:45.36%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name: Steven P. Lapham</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.08%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="45%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:45.36%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title: Managing Director</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.08%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="45%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:45.36%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.08%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
  </td>
  <td width="23%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:23.14%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ A. Drew Goldman</font></p>
  </td>
  <td width="22%" valign="top" style="padding:0in 0in 0in 0in;width:22.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.08%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="45%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:45.36%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name: A. Drew Goldman</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.08%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="45%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:45.36%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title: Director</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.08%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="45%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:45.36%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.08%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:50.92%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">GOLDMAN, SACHS &amp; Co.</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.08%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="45%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:45.36%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.08%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
  </td>
  <td width="23%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:23.14%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Robert T. Wagner</font></p>
  </td>
  <td width="22%" valign="top" style="padding:0in 0in 0in 0in;width:22.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.08%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="45%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:45.36%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name: Robert T. Wagner</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.08%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="45%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:45.36%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title: Managing Director</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.08%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="45%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:45.36%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.08%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">:</font></p>
  </td>
  <td width="45%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:45.36%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.08%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="45%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:45.36%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.08%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:50.92%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">LEHMAN COMMERCIAL PAPER INC.</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.08%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="45%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:45.36%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.08%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
  </td>
  <td width="23%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:23.14%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Steve Sterling</font></p>
  </td>
  <td width="22%" valign="top" style="padding:0in 0in 0in 0in;width:22.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.08%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="45%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:45.36%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.08%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="45%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:45.36%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.08%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="45%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:45.36%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.08%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:50.92%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">LEHMAN BROTHERS INC.</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.08%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="45%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:45.36%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.08%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
  </td>
  <td width="23%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:23.14%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Steve Sterling</font></p>
  </td>
  <td width="22%" valign="top" style="padding:0in 0in 0in 0in;width:22.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.08%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="45%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:45.36%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.08%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="45%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:45.36%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<br clear="all" style="page-break-before:always;">


<div>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="100%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Agreed to
  and accepted as of<br>
  the date first above written</font></p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">PENN
  NATIONAL GAMING, INC.</font></p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
  </td>
  <td width="22%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:22.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ William
  J. Clifford</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="94%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:94.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="94%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:94.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[Signature page to Penn National Gaming, Inc. Commitment Letter]</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">EXHIBIT A</font></u></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SUMMARY OF CERTAIN TERMS<br>
<u>OF CREDIT FACILITIES</u></font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><font face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Unless otherwise defined herein, capitalized
terms used herein and defined in the letter agreement to which this Exhibit A
is attached (the &#147;<u>Commitment Letter</u>&#148;) are used herein as therein
defined.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">I.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Description of Credit Facilities</u></font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Borrower:</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Penn
  National Gaming, Inc. (the &#147;<u>Borrower</u>&#148;).</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Total Credit
  Facilities:</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$2.9
  billion.</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Credit
  Facilities:</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.&nbsp;&nbsp;&nbsp;&nbsp; A
  term loan facility in an aggregate principal amount of $400 million (the &#147;<u>A
  Term Loan Facility</u>&#148;).</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.&nbsp;&nbsp;&nbsp;&nbsp; B
  term loan facility in an aggregate principal amount of $1,750 million (the &#147;<u>B
  Term Loan Facility</u>&#148; and, together with the A Term Loan Facility, the &#147;<u>Term
  Loan Facilities</u>&#148;).</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.&nbsp;&nbsp;&nbsp;&nbsp; Revolving
  credit facility in an aggregate principal amount of $750 million (the &#147;<u>Revolving
  Credit Facility</u>&#148; and, together with the Term Loan Facilities, the &#147;<u>Credit
  Facilities</u>&#148;).</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>A Term Loan Facility</u></font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Use of
  Proceeds:</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The proceeds
  of the loans made pursuant to the A Term Loan Facility (the &#147;<u>A Term Loans</u>&#148;)
  shall be used solely to finance and effect the Acquisition and the
  Refinancing and to pay the fees and expenses incurred in connection with the
  Transaction.</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Maturity:</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The final maturity
  date of the A Term Loan Facility shall be the first to occur of (the &#147;<u>A
  Term Loan Maturity Date</u>&#148;) (a) the date that is the sixth anniversary of
  the Closing Date (defined below) or (b) the date that is 180 days prior to
  the Senior Subordinated Note Maturity Date (defined below).</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Senior Subordinated Note Maturity Date</u>&#148;
  means the earlier to occur of (x) the final maturity date of the Borrower&#146;s 8<sup>7</sup>/<sub>8</sub>%
  senior subordinated notes due 2010 (the &#147;<u>Borrower&#146;s 2010 Notes</u>&#148;),
  unless the Borrower&#146;s 2010 Notes are repaid or discharged in full on or prior
  to the 180th day prior to such maturity date, <u>provided</u> that, if the
  Borrower&#146;s 2010 Notes are refinanced, then the maturity date of such other
  indebtedness as shall have refinanced the Borrower&#146;s 2010 Notes shall be the &#147;Senior
  Subordinated Note Maturity Date&#148; or (y) the maturity date of the Borrower&#146;s 6<sup>7</sup>/<sub>8</sub>%
  senior subordinated notes due 2011 (the &#147;<u>Borrower&#146;s 2011 Notes</u>&#148;)
  unless the Borrower&#146;s 2011 Notes are repaid or </font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" colspan="5" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">discharged in full on or prior to the 180th day
  prior to such maturity date, <u>provided</u> that, if the Borrower&#146;s 2011
  Notes are refinanced, then the maturity date of such other indebtedness as
  shall have refinanced the Borrower&#146;s 2011 Notes shall be the &#147;Senior
  Subordinated Note Maturity Date&#148;.</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" colspan="5" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Amortizations:</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" colspan="5" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">During years one and two following the Closing Date,
  the A Term Loan Facility shall not amortize.&nbsp;
  During years three, four, five and six following the Closing Date,
  annual amortization (payable in four equal quarterly installments) of the A
  Term Loan Facility shall be required in an amount equal to the percentage of
  the aggregate principal amount of the A Term Loan Facility funded at Closing
  Date as set forth in the table below opposite the year during which such
  amortization is required:</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" colspan="5" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="158" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:118.65pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Year</font></b></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="182" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:136.65pt;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-indent:0in;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Percentage</font></b></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="64" colspan="2" style="border:none;font-size:1.0pt;padding:0in 0in 0in 0in;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="158" valign="top" style="border:none;padding:0in 0in 0in 0in;width:118.65pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="182" valign="top" style="border:none;padding:0in 0in 0in 0in;width:136.65pt;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="64" colspan="2" style="border:none;font-size:10.0pt;padding:0in 0in 0in 0in;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="158" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:118.65pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Year 3</font></p>
  </td>
  <td width="16" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="182" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:136.65pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20</font></p>
  </td>
  <td width="16" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">%</font></p>
  </td>
  <td width="64" colspan="2" style="border:none;font-size:1.0pt;padding:0in 0in 0in 0in;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="158" valign="top" style="padding:0in 0in 0in 0in;width:118.65pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Year 4</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="182" valign="top" style="padding:0in 0in 0in 0in;width:136.65pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">25</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">%</font></p>
  </td>
  <td width="64" colspan="2" style="border:none;font-size:1.0pt;padding:0in 0in 0in 0in;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="158" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:118.65pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Year 5</font></p>
  </td>
  <td width="16" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="182" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:136.65pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">25</font></p>
  </td>
  <td width="16" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">%</font></p>
  </td>
  <td width="64" colspan="2" style="border:none;font-size:1.0pt;padding:0in 0in 0in 0in;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="158" valign="top" style="padding:0in 0in 0in 0in;width:118.65pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Year 6</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="182" valign="top" style="padding:0in 0in 0in 0in;width:136.65pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">30</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">%</font></p>
  </td>
  <td width="64" colspan="2" style="border:none;font-size:1.0pt;padding:0in 0in 0in 0in;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" colspan="5" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Availability:</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" colspan="5" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Amounts under the A Term Loan Facility shall be
  available as follows:</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" colspan="5" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" colspan="5" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; A Term Loans in the amount of $325
  million shall be made on the date of the consummation of the Acquisition (the
  &#147;<u>Closing Date</u>&#148;); and</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" colspan="5" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" colspan="5" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; in addition to the foregoing, A
  Term Loans in the amount of $75 million under the A Term Loan Facility (the &#147;<u>Pocono
  A Term Loan Commitment Tranche</u>&#148;) shall be made on the Closing Date if and
  only if the Pocono Downs Sale (defined below) has not been completed
  concurrent with or prior to the Closing Date (such amount referred to in this
  clause (b) if so borrowed shall be referred to as the &#147;<u>Pocono A Term Loan
  Amount</u>&#148;).&nbsp; If the Pocono Downs Sale
  has been completed concurrent with or prior to the Closing Date, then the
  amount of the Pocono A Term Loan Commitment Tranche shall not be available to
  be borrowed and the commitments under the A Term Loan Facility in the amount
  of such Pocono A Term Loan Commitment Tranche shall automatically terminate
  at the Closing Date or earlier, at the Borrower&#146;s option.</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" colspan="5" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" colspan="5" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">No amount of A Term Loans once repaid may be
  reborrowed.</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr height="0">
  <td width="268" style="border:none;"></td>
  <td width="16" style="border:none;"></td>
  <td width="158" style="border:none;"></td>
  <td width="16" style="border:none;"></td>
  <td width="182" style="border:none;"></td>
  <td width="16" style="border:none;"></td>
  <td width="43" style="border:none;"></td>
  <td width="21" style="border:none;"></td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">B.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>B Term Loan Facility</u></font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Use of Proceeds:</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The proceeds of the loans made pursuant to the B
  Term Loan Facility (the &#147;<u>B Term Loans</u>&#148; and, together with the A Term
  Loans, the &#147;<u>Term Loans</u>&#148;), shall be used as follows:</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Initial B Term Loan Amount
  (defined below) of the B Term Loan Facility shall be used solely to finance
  and effect the Acquisition and the Refinancing and to pay the fees and
  expenses incurred in connection with the Transaction on the Closing Date; and</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; in addition to the foregoing, an
  amount equal to 101% of the aggregate principal amount of the Existing Target
  Notes for which Target Notes COC Offers may be required (the &#147;<u>Delayed Draw
  B Term Loan Commitment Amount</u>&#148;) of the B Term Loan Facility (the &#147;<u>Delayed
  Draw B Term Loan Tranche</u>&#148;) may be used solely to finance the Target Notes
  COC Offers and only to the extent required by the terms of the governing
  indenture.&nbsp; B Term Loans made under the
  Delayed Draw B Term Loan Tranche are referred to herein as the &#147;<u>Delayed
  Draw B Term Loans</u>&#148;.</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Maturity:</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The final
  maturity date of the B Term Loan Facility shall be the first to occur of (the
  &#147;<u>B Term Loan Maturity Date</u>&#148;) (a) the date that is the seventh anniversary
  of the Closing Date or (b) the date that is 180 days prior to the Senior
  Subordinated Note Maturity Date. </font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Amortizations:</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; During the first six years
  following the Closing Date, annual amortization (payable in four equal
  quarterly installments) of the B Term Loans shall be required in an amount equal
  to one percent of the initial aggregate principal amount of the B Term Loans;
  and</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; In the seventh year after the
  Closing Date, the remaining aggregate principal amount of B Term Loans
  originally incurred shall be paid in four equal quarterly installments.</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Availability:</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Amounts under the B Term Loan Facility shall be
  available as follows:</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; B Term Loans in the amount of
  approximately $1,030 million plus such amount as is required to consummate
  the Target Notes Tender/Consent (exclusive of accrued interest) on the
  Closing Date shall be made on the Closing Date to finance, in part, the Transaction;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; in addition to the foregoing, B
  Term Loans in the amount of $100 million under the B Term Loan Facility (the &#147;<u>Pocono
  B Term Loan Commitment Tranche</u>&#148;) shall be made on the Closing</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Date if and only if the Pocono Downs Sale (defined
  below) has not been completed concurrent with or prior to the Closing Date
  (such amount referred to in this clause (b) if so borrowed shall be referred
  to as the &#147;<u>Pocono B Term Loan Amount</u>&#148; and together with the amount
  under clause (a) above shall be referred to herein as the &#147;<u>Initial B Term
  Loan Amount</u>&#148;).&nbsp; If the Pocono Downs
  Sale has been completed concurrent with or prior to the Closing Date, then
  the amount of the Pocono B Term Loan Commitment Tranche shall not be
  available to be borrowed and the commitment under the B Term Loan Facility in
  the amount of such Pocono B Term Loan Commitment Tranche shall automatically
  terminate at the Closing Date or earlier, at the Borrower&#146;s option; and</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; in addition to the foregoing,
  Delayed Draw B Term Loans under the Delayed Draw B Term Loan Tranche may only
  be made during the period commencing on the Closing Date and ending 90 days
  after the Closing Date.&nbsp; If amounts
  under the Delayed Draw B Term Loan Tranche or any part thereof is not drawn
  or otherwise used during such 90 day period, then the aggregate unutilized
  commitments under the B Term Loan Facility that relates to the Delayed Draw B
  Term Loan Tranche shall terminate at the end of such 90 day period.</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">No amount of B Term Loans once repaid may be reborrowed.</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Notwithstanding, anything herein to the contrary,
  amounts under the B Term Loan Facility not required under the Existing Target
  Notes Indentures to consummate the Target Notes COC Offers following the
  Closing Date shall cease to be available on the Closing Date to the extent
  not used as permitted herein.</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">C.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Revolving Credit Facility</u></font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Use of Proceeds:</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The proceeds of loans under the Revolving Credit
  Facility (the &#147;<u>Revolving Loans</u>&#148; and, together with the Term Loans and
  the Swingline Loans (defined below), the &#147;<u>Loans</u>&#148;) shall be used for
  working capital, capital expenditures, permitted acquisitions and general
  corporate purposes; <u>provided</u> not more than approximately $662.5
  million of the proceeds of the Revolving Credit Facility may be used to pay
  amounts owing to effect the Acquisition and the Refinancing or to pay any
  fees and expenses incurred in connection with the Transaction.</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Letters of Credit:</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A portion of the Revolving Credit Facility not in
  excess of an amount to be mutually agreed upon will be available for the issuance
  of stand-by and commercial letters of credit (&#147;<u>Letters of Credit</u>&#148;) to
  support </font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">obligations of the Borrower and its
  subsidiaries.&nbsp; Each of the Lenders under
  the Revolving Credit Facility will purchase an irrevocable and unconditional
  participation in each Letter of Credit.&nbsp;
  Maturities for Letters of Credit will not exceed twelve months in the
  case of standby Letters of Credit or 180 days in the case of commercial
  Letters of Credit, renewable annually thereafter in the case of standby Letters
  or Credit and, in any event, shall not extend beyond the fifth business day
  prior to the Revolving Loan Maturity Date (as defined below).</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Swingline Loans:</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A portion of the Revolving Credit Facility not in
  excess of an amount to be mutually agreed upon shall be available for
  swingline loans (the &#147;<u>Swingline Loans</u>&#148;) from one or more Lenders to be
  agreed upon.&nbsp; Any such Swingline Loans
  will reduce the availability under the Revolving Credit Facility on a
  dollar-for-dollar basis.&nbsp; Each Lender
  under the Revolving Credit Facility shall acquire, under certain circumstances,
  an irrevocable and unconditional pro rata participation in each Swingline
  Loan.&nbsp; Each Swingline Loan shall be due
  and payable on the earlier of the Revolving Loan Maturity Date (defined below)
  and the first date after such Swingline Loan is made that is the 15th or last
  day of a calendar month and is at least two business days after such
  Swingline Loan is made.</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Maturity:</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The final maturity date of the Revolving Credit Facility
  shall be the first to occur of (the &#147;<u>Revolving Loan Maturity Date</u>&#148;)
  (a) the date that is the fifth anniversary of the Closing Date or (b) the
  date that is 180 days prior to the Senior Subordinated Note Maturity Date. </font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Availability:</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Revolving Loans may be borrowed, repaid and
  reborrowed on and after the Closing Date and prior to the Revolving Loan Maturity
  Date in accordance with the terms of the definitive credit documentation governing
  the Credit Facilities (the &#147;<u>Credit Documentation</u>&#148;).</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">D.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Uncommitted Incremental
Commitments Facility</u></font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">During the period commencing on the Closing Date and
  ending on the third anniversary thereof, the Borrower may increase the Credit
  Facilities through additional commitments (the &#147;<u>Incremental Loans</u>&#148;)
  (whether an increase in commitments under the Revolving Credit Facility,
  additional commitments under the A Term Loan Facility, additional commitments
  under the B Term Loan Facility, or one or more new tranches of term loans to
  be made available under the credit agreement governing the Credit Facilities
  or any combination of the foregoing) from the existing Lenders and/or from
  new Lenders approved by the Arrangers and the Administrative Agent (such approval</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">not to be unreasonably withheld or delayed) in
  minimum amounts to be determined; <u>provided</u>, <u>however</u>, that (a)
  any increase in commitments under the Revolving Credit Facility shall not
  exceed $100 million and (b) the aggregate amount of all Incremental Loans shall
  not exceed $300 million (the &#147;<u>Incremental Loan Commitment Amount</u>&#148;) and
  immediately before and after any such borrowing no Default or Event of
  Default exists, and <u>provided</u>, <u>further</u> that, to the extent that
  any Incremental Loans are under one or more new tranches of term loans and
  the weighted average interest rates payable in respect of such Incremental
  Loans (whether in the form of interest, fees, original issue discount or a
  combination of any thereof) is higher by more than 0.50% than the weighted
  average yield to final maturity (including fees and original issue discount)
  payable in respect of the B Term Loan Facility immediately prior to the
  incurrence of any such Incremental Loans, the interest rate applicable to the
  B Term Loan Facility shall increase to provide the existing lenders the same
  weighted interest rate provided to the lenders of such Incremental
  Loans.&nbsp; Existing Lenders may, but shall
  not be obligated without their prior written consent to, provide a commitment
  and/or make any loans pursuant to any Incremental Loans, and nothing
  contained in this Term Sheet or the Commitment Letter constitutes, or shall
  be deemed to constitute, a commitment with respect to any Incremental Loans.
  The terms and conditions of the Incremental Loans shall be mutually agreed
  upon by the Borrower and the Arrangers.&nbsp;
  Notwithstanding the foregoing to the contrary, the Borrower shall
  reserve and not utilize $175 million of the Incremental Loan Commitment
  Amount until the earlier of (a) the expiration of any obligation on the part
  of the Borrower to purchase the Pocono Downs and its related assets pursuant
  to the put provisions set forth in<b><font style="font-weight:bold;">&nbsp;</font></b>documentation
  related to the Pocono Downs Sale as publicly available on the date hereof
  (the &#147;<u>Pocono Downs Put Obligation</u>&#148;) or (b) the date on which the
  Borrower has fulfilled the Pocono Downs Put Obligation through proceeds from
  the Incremental Loans facility or other source of financing.</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">II.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Terms Applicable to All Credit Facilities</u></font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Administrative Agent:</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">DBTCA will act as administrative agent for the
  Credit Facilities (in such capacity, the &#147;<u>Administrative Agent</u>&#148;).</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Joint Lead Arrangers:</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">DBSI, GSCP and LBI will act as joint lead arrangers
  for the Credit Facilities (in such capacities, the &#147;<u>Arrangers</u>&#148;).</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Joint Book Running Managers:</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">DBSI, GSCP and LBI will act as joint book running managers
  for the Credit Facilities (in such capacities, the &#147;<u>Book Managers</u>&#148;).</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<br clear="all" style="page-break-before:always;">

<div>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">for the
  Credit Facilities (in such capacities, the &#147;<u>Book Managers</u>&#148;).</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Co-Syndication
  Agents:</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">GSCP and
  LCPI will act as co-syndication agents for the Credit Facilities (in such
  capacities, the &#147;<u>Co-Syndication Agents</u>&#148;).</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Lenders:</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">DBTCA, GSCP, LCPI and/or a syndicate of lenders
  arranged by the Arrangers (the &#147;<u>Lenders</u>&#148;) in consultation with the
  Borrower.</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Required Lenders:</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Lenders having aggregate commitments and/or
  outstandings (as appropriate) pertaining to all tranches (taken in the aggregate)
  of the Credit Facilities in excess of 50%, subject to amendments or waivers
  of certain provisions of the Credit Documentation requiring the consent of
  Lenders having a greater share (or all) of the outstanding commitments and/or
  outstandings or requiring the consent of a specified affected Credit
  Facility.</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Guaranties:</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Each of the Borrower&#146;s direct and indirect domestic<b><font style="font-weight:bold;">&nbsp;</font></b>subsidiaries of the Borrower (each, other than such
  subsidiaries not providing a guarantee as provided below, a &#147;<u>Guarantor</u>&#148;
  and, collectively, the &#147;<u>Guarantors</u>&#148;) existing on the Closing Date or
  thereafter created or acquired shall be required to provide an unconditional
  joint and several guaranty of all amounts owing under the Senior Secured
  Financing (the &#147;<u>Guaranties</u>&#148;); <u>provided</u>, that no guarantee need
  be provided by (i) any member of the Unrestricted Group (defined below), (ii)
  any subsidiary of the Borrower or Target to the extent prohibited by relevant
  gaming authorities after the Borrower has used commercially reasonable efforts
  to arrange for such guarantees, or (iii) any subsidiary of Target to the
  extent prohibited by the Existing Target Notes and other existing
  indebtedness of the Borrower and its subsidiaries to remain outstanding following
  the Acquisition.&nbsp; Such guarantees shall
  be in form and substance reasonably satisfactory to the Arrangers and shall,
  to the extent requested by the Arrangers, also guarantee the Borrower&#146;s and
  its subsidiaries&#146; obligations under interest rate swaps or similar agreements
  with a Lender or its affiliates (the &#147;<u>Secured Hedging Agreements</u>&#148;)
  incurred in connection with the Senior Secured Financing.&nbsp; All guarantees shall be guarantees of
  payment </font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<div>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">and not of collection.</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Unrestricted Group</u>&#148; shall include (i) the
  subsidiaries of Borrower currently treated as &#147;Unrestricted Subsidiaries&#148;
  under the Existing Borrower Facilities, (ii) the subsidiaries of Target
  currently treated as &#147;Unrestricted Subsidiaries&#148; under the Existing Target
  Facilities (it being understood that the subsidiaries of Target that are
  borrowers under the Existing Target Facilities shall not constitute &#147;Unrestricted
  Subsidiaries&#148; for purposes hereof) and (iii) such other subsidiaries as
  reasonably requested by Borrower and acceptable to the Arrangers.</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Security:</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">All amounts owing under the Senior Secured Financing
  and (if applicable) the Secured Hedging Agreements (and all obligations under
  the Guaranties) will be secured by (i) a first priority perfected security
  interest in all stock, other equity interests and promissory notes owned by
  the Borrower and the Guarantors, <u>provided</u> that not more than 65% of
  the total outstanding voting stock of any non-U.S. subsidiary of the Borrower
  shall be required to be pledged, and (ii) a first priority (subject to
  certain customary lien exceptions as the Administrative Agent shall
  reasonably determine in its sole discretion) perfected security interest in
  all other tangible and intangible properties and assets (including, without
  limitation, receivables, contract rights, securities, patents, trademarks,
  other intellectual property, inventory, equipment, real estate, leasehold interests,
  and vessels owned by the Borrower and each of the Guarantors, subject (in
  each case) to exceptions for those properties and assets as to which the
  Administrative Agent shall determine in its sole discretion that the costs of
  obtaining such security interest are excessive in relation to the value of
  the security to be afforded thereby and excluding (x) liens on the properties
  and assets of the Pennwood Joint Venture, on the Casino Rama management
  contract and on the leasehold estate at Casino Rouge and Boomtown Biloxi and
  (y) liens prohibited by applicable gaming authorities, by contractual provisions
  or by applicable laws, in the case with respect to clause (y) above, after
  the Borrower has used commercially reasonable efforts to secure approval.</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">All documentation (collectively referred to herein
  as the &#147;<u>Security Agreements</u>&#148;) evidencing the security required</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
<!-- SEQ.=1,FOLIO='8',FILE='C:\JMS\tchan\04-12765-1\task215727\12765-1-ms-03.htm',USER='tchan',CD='Nov  5 08:28 2004' -->


<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">pursuant to the immediately preceding paragraph
  shall be in form and substance reasonably satisfactory to the Arrangers, and
  shall effectively create first priority security interests in the properties
  and assets purported to be covered thereby, with such exceptions as are
  acceptable to the Administrative Agent in its reasonable discretion.</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Optional Commitment Reductions:</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The unutilized portion of the total commitments under
  the Credit Facilities may, upon three business days&#146; notice, be reduced or
  terminated by the Borrower in minimum amounts to be agreed, without premium
  or penalty. </font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Voluntary Prepayments:</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Voluntary prepayments may be made at any time on
  three business days&#146; notice in the case of Eurodollar Loans, or one business
  day&#146;s notice in the case of Base Rate Loans, without premium or penalty in
  minimum principal amounts to be agreed; <u>provided</u> that voluntary
  prepayments of Eurodollar Loans made on a date other than the last day of an
  interest period applicable thereto shall be subject to customary breakage
  costs.&nbsp; Voluntary prepayments of Term
  Loans shall, subject to the provisions described under the heading &#147;Waivable
  Prepayments&#148; below, be applied <u>pro rata</u>
  to outstanding A Term Loans and B Term Loans, and shall apply to reduce
  future scheduled amortization payments of the respective Term Loans being
  prepaid in a manner to be determined.</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Mandatory Repayments:</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Mandatory
  repayments of Term Loans shall be required from the following:</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100% of the proceeds (net of taxes
  and costs and expenses in connection with the sale) from asset sales by the
  Borrower and its restricted subsidiaries (subject to certain reinvestment
  rights and exceptions to be mutually agreed upon);</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100% of the net proceeds from
  issuances of debt not permitted under the Credit Documentation and from any
  Notes Offering (as defined in the Fee Letter);</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50% (reducing to certain percentage
  amounts to be mutually agreed based on meeting a leverage test to be mutually
  agreed) of annual excess cash flow (with definitions to be mutually agreed
  upon) of the Borrower </font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">and
  its restricted subsidiaries; and</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100% of the net proceeds from insurance
  recovery and condemnation events of the Borrower and its restricted subsidiaries
  (subject to certain reinvestment rights to be negotiated). </font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">All mandatory repayments of Term Loans made pursuant
  to clauses (a)-(d) above (other than from the proceeds of a Notes Offering)
  will, subject to the provisions described under the heading &#147;Waivable
  Prepayments&#148; below and the next paragraph below, be applied <u>pro rata</u> to outstanding A Term Loans and B
  Term Loans, and shall apply to reduce future scheduled amortization payments
  of the respective Term Loans being repaid <u>pro
  rata</u> based upon the then remaining amounts of such payments.</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Notwithstanding the foregoing to the contrary, any
  and all net proceeds received by the Borrower or its restricted subsidiaries
  from the sale by the Borrower or its restricted subsidiaries of the Pocono
  Downs and related assets as set forth in the documentation publicly filed by
  the Borrower prior to the date hereof (the &#147;<u>Pocono Downs Sale</u>&#148;) shall
  be applied first to outstanding A Term Loans made under the Pocono A Term
  Loan Commitment Tranche and to outstanding B Term Loans made under the Pocono
  B Term Loan Commitment Tranche on a pro rata basis based on the initial
  aggregate amount of the A Term Loans made under the Pocono A Term Loan
  Commitment Tranche and the initial aggregate amount of the B Term Loans made
  under the Pocono B Term Loan Commitment Tranche.&nbsp; Notwithstanding the foregoing to the
  contrary, net proceeds received from the Pocono Asset Sale shall not be subject
  to any reinvestment rights.</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In addition, if at any time the outstandings pursuant
  to the Revolving Credit Facility (including Letter of Credit outstandings and
  Swingline Loans outstandings) exceed the aggregate commitments with respect
  thereto, prepayments of Revolving Loans (and/or the cash collateralization of
  Letters of Credit) shall be required in an amount equal to such excess.</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Waivable Prepayments</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">So long as (and to the extent that) A Term Loans
  remain outstanding, Lenders holding B Term Loans shall have</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">rights to waive their share of Voluntary Prepayments
  and Mandatory Repayments (excluding scheduled amortizations) as otherwise required
  above on terms to be established by the Arrangers (in which case the amounts
  so waived shall be applied to repay then outstanding A Term Loans); <u>provided</u>,
  <u>however</u>, that, notwithstanding the foregoing, provided that the senior
  debt leverage ratio (to be defined as mutually agreed upon and to include all
  unsubordinated and secured debt of Borrower and the Guarantors and all debt
  of restricted subsidiaries of the Borrower that are not Guarantors) is less
  than 3.5 to 1.00, the Borrower shall have the option of offering voluntary
  prepayments to both the Lenders holding B Term Loans and the Lenders holding
  A Term Loans, on a pro rata basis (and offering A Term Lenders any amounts
  declined by the B Term Lenders) and providing notice to such Lenders at the time
  of such offer that any declined amounts may be applied by the Borrower to
  repurchase its outstanding senior subordinated notes and/or equity.&nbsp; Any such declined amounts may then be used
  by the Borrower to so repurchase its outstanding senior subordinated notes
  and/or equity.&nbsp; </font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Interest Rates:</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">At the Borrower&#146;s option, Loans may be maintained
  from time to time as (x) Base Rate Loans, which shall bear interest at the
  Base Rate in effect from time to time <u>plus</u> the Applicable Margin (as
  defined below) or (y) Eurodollar Loans, which shall bear interest at the
  Eurodollar Rate (adjusted for maximum reserves) as determined by the Administrative
  Agent for the respective interest period <u>plus</u> the Applicable Margin, <u>provided</u>,
  that until the earlier to occur of (i) the 90th day following the Closing
  Date or (ii) the date upon which the Arrangers shall determine in their sole
  discretion that the primary syndication of the Credit Facilities has been
  completed, Eurodollar Loans shall be restricted to a single one month Interest
  Period at all times, with the first such Interest Period to begin not sooner
  than 3 business days after the Closing Date and with any subsequent Interest
  Periods to begin on the last day of the prior one month Interest Period
  theretofore in effect.&nbsp; </font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Applicable
  Margin</u>&#148; shall mean a percentage per annum equal to as follows:</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">11</font></p>

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<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i) in the case of A
  Term Loans (A) maintained as Base Rate Loans, 1.375%, and (B) maintained as
  Eurodollar Loans, 2.375%;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)
  in the case of B Term Loans (A) maintained as Base Rate Loans, 1.50%, and (B)
  maintained as Eurodollar Loans, 2.50%; and</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii) in the case of
  Revolving Loans (A) maintained as Base Rate Loans, 1.375%, and (B) maintained
  as Eurodollar Loans, 2.375%.</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">So
  long as no default or event of default exists under the Credit Facilities,
  the Applicable Margin for Revolving Loans and A Term Loans shall be subject
  to quarterly change (which shall not exceed the rates set forth in clauses
  (i) and (iii) above) to be determined (but, in any event, not commencing
  until the delivery of the Borrower&#146;s financial statements in respect of its
  first fiscal quarter ending at least one full fiscal quarter after the
  Closing Date) based on meeting the Borrower&#146;s applicable Leverage Ratios.</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">It is understood that the Applicable Margins
  applicable to the B Term Loans may increase as set forth in the Section above
  entitled &#147;Uncommitted Incremental Commitment Facility&#148;.</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Base Rate</u>&#148; shall mean the higher of (x) the
  rate that the Administrative Agent announces from time to time as its prime
  lending rate, as in effect from time to time, and (y) 1/2 of 1% in excess of
  the overnight federal funds rate.</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Interest periods of 1, 2, 3 and 6 months or, to the
  extent available to all Lenders with commitments and/or Loans under a given
  tranche of the Credit Facilities, 9 or 12 months, shall be available in the
  case of Eurodollar Loans.&nbsp; </font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Interest in respect of Loans bearing interest based
  upon the Base Rate (&#147;<u>Base Rate Loans</u>&#148;) shall be payable quarterly in
  arrears on the last business day of each calendar quarter. </font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Interest in respect of Loans based upon the
  Eurodollar Rate (&#147;<u>Eurodollar Loans</u>&#148;) shall be payable in arrears at </font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">12</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
<!-- SEQ.=1,FOLIO='12',FILE='C:\JMS\tchan\04-12765-1\task215727\12765-1-ms-03.htm',USER='tchan',CD='Nov  5 08:28 2004' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">the end of the applicable interest period and every
  three months in the case of interest periods in excess of three months.
  Interest will also be payable at the time of repayment of any Loans and at
  maturity.&nbsp; All interest on Base Rate
  Loans, Eurodollar Loans and commitment fees and any other fees shall be based
  on a 360-day year and actual days elapsed unless calculated by reference to
  the Prime Rate, in which case it shall be based on a 365 or 366-day year, as
  applicable.</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Interest Rate Management:</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">At least 50% of the aggregate principal amount of
  outstanding funded indebtedness (excluding the Revolving Loans) of the
  Borrower and its restricted subsidiaries must be subject either to a fixed
  rate or be hedged on terms and for a period of time reasonably satisfactory
  to the Arrangers and with one or more Lenders or their respective affiliates.</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Default Interest:</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Overdue principal, interest and other amounts shall
  bear interest at a rate per annum equal to the greater of (i) the rate which
  is 2% in excess of the rate otherwise applicable to Base Rate Loans of the
  respective tranche under the Senior Secured Financing from time to time and
  (ii) the rate which is 2% in excess of the rate then borne by such
  borrowings.&nbsp; Such interest shall be payable
  on demand.</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Yield Protection; and Replacement of Lenders:</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Credit Facilities shall include customary protective
  provisions for such matters as defaulting banks, capital adequacy, increased
  costs, reserves, funding losses, breakage costs, illegality and withholding
  taxes.</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Borrower shall have the right to replace any
  Lender that (i) charges an amount with respect to contingencies described in
  the immediately preceding paragraph or (ii) refuses to consent to certain
  amendments or waivers of the Senior Secured Financing which expressly require
  the consent of such Lender and which have been approved by the Required
  Lenders (or, in certain circumstances applicable to a particular tranche, a
  majority of the applicable tranche of Lenders).</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Commitment Fees:</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:0in;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Revolving Credit Facility</font></u>.&nbsp; A commitment fee, at a rate per annum rate
  equal to a certain percentage amounts to be mutually agreed based on meeting
  a leverage test to be</p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <h1 style="font-weight:normal;margin:0in 0in .0001pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></h1>
  </td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">13</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">mutually agreed (the &#147;<u>Commitment Fee Percentage</u>&#148;),
  on the daily undrawn portion of the commitments of each Lender under the
  Revolving Credit Facility, will commence accruing on the Closing Date and
  will be payable quarterly in arrears.&nbsp;
  The Commitment Fee Percentage shall be subject to quarterly change to
  be determined (but, in any event, not commencing until the delivery of the
  Borrower&#146;s financial statements in respect of its first fiscal quarter ending
  at least one full fiscal quarter after the Closing Date) based on meeting the
  Borrower&#146;s applicable leverage tests; <u>provided</u>, <u>however</u>, that
  the Commitment Fee Percentage shall in no event be greater than 0.50%.&nbsp; Notwithstanding the foregoing, the
  Commitment Fee Percentage on the Closing Date shall be 0.50%.</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <h1 style="font-weight:normal;margin:0in 0in .0001pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></h1>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <h1 style="font-weight:normal;margin:0in 0in .0001pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h1>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:0in;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">B Term Loan Facility</font></u>.&nbsp; A commitment fee, at a rate per annum of
  0.50%, on the daily undrawn portion of the commitment of each Lender under
  the B Term Loan Facility that relates to the Delayed Draw B Term Loan
  Tranche, will commence accruing on the Closing Date to the date on which the
  Delayed Draw B Term Loans have been made under the Delayed Draw B Term Loan
  Tranche or such commitment otherwise has terminated.&nbsp; Such fee shall be computed on the basis of
  the actual number of days elapsed over a 360-day year, and shall be due and
  payable in cash on the date on which the Delayed Draw B Term Loans were made.</p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <h1 style="font-weight:normal;margin:0in 0in .0001pt;page-break-after:auto;"><u><font size="2" face="Times New Roman" style="font-size:1.0pt;"><font style="text-decoration:none;">&nbsp;</font></font></u></h1>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Letter of Credit Fees:</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A letter of credit fee equal to the Applicable Margin
  for Revolving Loans maintained as Eurodollar Loans on the outstanding stated
  amount of Letters of Credit (the &#147;<u>Letter of Credit Fee</u>&#148;) to be shared
  proportionately by the Lenders under the Revolving Credit Facility in
  accordance with their participation in the respective Letter of Credit, and a
  facing fee of 1/4 of 1% per annum (but in no event less than $500 per annum
  for each Letter of Credit) (the &#147;<u>Facing Fee</u>&#148;) to be paid to the issuer
  of each Letter of Credit for its own account, in each case calculated on the
  aggregate stated amount of all Letters of Credit for the stated duration
  thereof.&nbsp; Letter of Credit Fees and
  Facing Fees shall be payable quarterly in arrears.&nbsp; In addition, the issuer of a Letter of
  Credit will be paid its customary administrative charges in connection with
  Letters of Credit issued by it.</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">14</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Agent/Lender Fees:</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Administrative Agent, the Arrangers and the
  Lenders shall receive such fees as have been separately agreed upon.</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Assignments and Participations:</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Borrower may not assign its rights or
  obligations under the Senior Secured Financing.&nbsp; Any Lender may assign, and may sell
  participations in, its rights and obligations under the Senior Secured
  Financing, subject (x) in the case of participations, to customary restrictions
  on the voting rights of the participants and (y) in the case of assignments,
  to such limitations as may be established by the Administrative Agent
  (including (i) unless to another Lender or its affiliate, a minimum assignment
  amount of $1 million (unless the Borrower and the Administrative Agent
  otherwise consent) (or, if less, the entire amount of such assignor&#146;s
  commitments and outstanding Loans at such time), (ii) an assignment fee in
  the amount of $3,500 to be paid by the respective assignor or assignee to the
  Administrative Agent and (iii) the receipt of the consent of the
  Administrative Agent and, so long as no Event of Default then exists under
  the Credit Documentation, the Borrower (but only with respect to assignments
  under the Revolving Credit Facility)<b><font style="font-weight:bold;">&nbsp;</font></b>(such consents
  not to be unreasonably withheld or delayed)).<b><font style="font-weight:bold;">&nbsp; </font></b>The Senior Secured Financing
  shall provide for a mechanism which will allow for each assignee to become a
  direct signatory to the Senior Secured Financing and will relieve the
  assigning Lender of its obligations with respect to the assigned portion of
  its </font>commitment.&nbsp; The Credit Facilities need not be assigned
  on a pro-rata basis.<b><font style="font-weight:bold;">&nbsp; </font></b>Each Lender will also
  have the right, without consent of the Borrower or the Administrative Agent,
  to assign or pledge as security all or part of its rights under the Credit
  Documentation to any Federal Reserve Bank.</p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Documentation; Governing Law:</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Lenders&#146; commitments for the Senior Secured Financing
  will be subject to the negotiation, execution and delivery of definitive
  financing agreements (and related security documentation, guaranties, etc.)
  consistent with the terms of this Term Sheet, in each case prepared by Cahill
  Gordon &amp; Reindel LLP as counsel to the Administrative Agent, and
  reasonably satisfactory to the Arrangers (including, without limitation, as
  to the terms, conditions, representations, covenants and events of default</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">15</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">contained therein).&nbsp;
  All documentation shall be governed by the internal laws of the State
  of New York (except security documentation that the Administrative Agent determines
  should be governed by local law).</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Commitment Termination:</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Any portion of the commitments under the B Term Loan
  Facility in the amount of the Delayed Draw B Term Loan Tranche that has not
  been used within 90 days following the Closing Date shall automatically
  terminate at the end of the 90th day following the Closing Date.&nbsp;&nbsp; </font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Conditions Precedent:</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Those conditions precedent set forth or reflected in
  the Commitment Letter, the Term Sheet and the Fee Letter.&nbsp; Without limiting the foregoing, the following
  conditions shall apply:</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>To the Initial Extension<br>
  of Credit</u>.</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Conditions precedent for the initial extension of
  credit to finance the Acquisition and the Target Refinancing (and if there is
  not a Two Phase Syndication but only a one phase syndication, the Borrower
  Refinancing as well) shall be those conditions precedent set forth in Annex I
  to this Exhibit A.&nbsp; Conditions
  precedent for the initial extension of credit or issuance a Letter of Credit
  under the Credit Facilities for a first phase of a Two Phase Syndications
  shall be conditions precedent that are usual and customary for credit
  facilities similar to the Credit Facilities.</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">B.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>To Each Extension of Credit</u>.</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Conditions precedent for each borrowing (excluding
  the initial borrowing to finance the Acquisition and the Target Refinancing
  (and if there is not a Two Phase Syndication but only a one phase
  syndication, the Borrower Refinancing as well)) or issuance, extension,
  increase or renewal of a Letter of Credit (excluding the issuance of a
  replacement Letter of Credit on the Closing Date) under the Credit Facilities
  shall be as follows:</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; all representations and warranties
  shall be true and correct in all material respects on and as of the date of
  each extension of credit (although any representations and warranties which
  expressly relate to a given date or period shall be required to be true and
  correct in all material respects only as of the respective date or for the
  respective period, as the case may be), before and after</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">16</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="268" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">giving
  effect to such borrowing and to the application of the proceeds therefrom, as
  though made on and as of such date; </font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; no event of default under the
  Credit Facilities or event which with the giving of notice or lapse of time
  or both would be an event of default under the Credit Facilities, shall have
  occurred and be continuing, or would result from such borrowing or such
  issuance, extension, increase or renewal of such Letter of Credit; and</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; with respect to any Loans, notice
  of borrowing, and with respect to each Letter of Credit, a notice of
  issuance, extension, increase or renewal.</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">C.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Conditions to Delayed<br>
  Draw B Term Loans</u>.</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In addition to the conditions referred to above and
  in the Commitment Letter, any drawing of the amounts under the Delayed Draw B
  Term Loan Tranche will be subject to the following conditions: (A) the Target
  Notes COC Offers shall have been effected in compliance with and under the
  existing terms of the applicable indentures and other related agreements and
  in compliance with applicable laws, rules and regulations, and all required
  consents, if necessary, shall have been obtained, (B) the proceeds from the
  Delayed Draw B Term Loans shall only be used to consummate the applicable
  Target Notes COC Offers and pay related fees and expenses, and (C) the Administrative
  Agent shall have received a certificate duly executed by a senior officer of
  the Borrower certifying that the condition set forth in clause (A) above has
  been satisfied in all respects.&nbsp; </font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="248" valign="top" style="padding:0in 0in 0in 0in;width:185.85pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Representations
  and Warranties:</font></p>
  </td>
  <td width="20" valign="top" style="padding:0in 0in 0in 0in;width:15.25pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Those representations and warranties applicable to
  the Borrower and the restricted subsidiaries which are usual and customary
  for these types of facilities, and such additional representations and
  warranties as the Arrangers shall reasonably deem appropriate in the context
  of the proposed Transaction.&nbsp; Notwithstanding
  the foregoing or any other provisions of the Commitment Letter, Term Sheet or
  Fee Letter, representations and warranties (i) with respect to Target and its
  subsidiaries shall not be more onerous </font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr height="0">
  <td width="248" style="border:none;"></td>
  <td width="20" style="border:none;"></td>
  <td width="16" style="border:none;"></td>
  <td width="415" style="border:none;"></td>
  <td width="21" style="border:none;"></td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">17</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">than those in the Acquisition Agreement insofar as
  they impact conditions to borrowings for the Acquisition and the Refinancing
  (it being understood that this does not impact transactional representations
  and warranties (<u>e.g.</u>, authorization, execution, delivery and
  enforceability of the Credit Documentation, etc.) pertaining to the Credit
  Facilities, the Loans, the Borrower and Guarantors or representations and warranties
  for borrowings made other than for the purpose of the Acquisition and the
  Target Refinancing (and if there is not a Two Phase Syndication but only a
  one phase syndication, the Borrower Refinancing as well)) or (ii) with respect
  to the Borrower and its subsidiaries shall not include a material adverse
  change or effect representation and warranty or definition (or require for
  the satisfaction or accuracy of representations and warranties, the absence
  of a material adverse change or effect) regarding its business, assets,
  results of operations, conditions (financial or otherwise), liabilities or
  prospects insofar as such language impacts conditions to borrowings for the
  Acquisition and the Refinancing.</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Covenants:</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Those covenants applicable to the Borrower and the
  restricted subsidiaries usual and customary for these types of facilities
  (with customary exceptions to be agreed upon).&nbsp; Although the covenants (other than the
  financial covenants, which shall be limited to those set forth in clause (x)
  below) have not yet been specifically determined, the covenants shall in any
  event include, but not be limited to the following (all such covenants to be
  subject to customary baskets and exceptions to be mutually agreed):&nbsp; </font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Limitations on other indebtedness
  (including contingent liabilities and seller notes); <u>provided</u>, that
  subordinated debt issued by the Borrower shall be permitted so long as the
  Borrower is in pro forma compliance with financial covenants, the
  subordination terms are customary for high yield debt issuances and the
  aggregate principal amount of all such subordinated debt does not exceed at
  any time outstanding a certain dollar amount (to be mutually agreed upon) in
  the aggregate.</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Limitations on investments,
  mergers, acquisitions, joint ventures, partnerships and acquisitions and
  dispositions of assets; <u>provided</u> that (a) acquisitions shall be
  permitted so long as the Borrower is in pro forma compliance with financial
  covenants (subject to baskets to be mutually agreed upon) and (b) investments
  shall be permitted without restrictions with respect to (1) joint ventures
  where</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">18</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">the
  Borrower is in control or has a management contract and (2) casinos and &#147;racinos&#148;
  where the Borrower has entered into management contract; <u>provided</u>, <u>however</u>,
  that, notwithstanding the foregoing, with respect to clause (b) above,<b><font style="font-weight:bold;">&nbsp;</font></b>if, on a pro forma basis after giving effect thereto, the
  total debt leverage ratio (to be defined as mutually agreed upon) of the
  Borrower and its restricted subsidiaries is equal to or less than 4.5 to
  1.00, then the Borrower and its restricted subsidiaries shall be permitted to
  make prohibited investments under clause (b) above in an unlimited aggregate
  amount following the Closing Date; <u>provided</u>, <u>further</u>, <u>however</u>,
  that, if, on a pro forma basis after giving effect thereto, such total debt
  leverage ratio of the Borrower and its restricted subsidiaries exceeds 4.5 to
  1.00, then the Borrower and its restricted subsidiaries shall be permitted to
  make prohibited investments under clause (b) following the Closing Date only
  if such investments to be made together with all prohibited investments so
  made following the Closing Date does not exceed $300 million in the
  aggregate. </font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Limitations on sale-leaseback
  transactions.</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Limitations on dividends and
  restricted payments.</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Limitations on voluntary
  prepayments of certain other indebtedness and amendments thereto, and
  amendments to organizational documents.</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(vi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Limitations on transactions with
  affiliates.</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(vii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Limitations on holding cash and Cash
  Equivalents at any time Revolving Loans are outstanding.</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(viii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance of existence and
  properties.</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ix)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Limitations on liens.</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="268" valign="top" style="padding:0in 0in 0in 0in;width:201.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(x)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial covenants shall consist
  of the following:</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="239" valign="top" style="padding:0in 0in 0in 0in;width:179.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="29" valign="top" style="padding:0in 0in 0in 0in;width:22.0pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Maximum Total
  Debt to EBITDA;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="239" valign="top" style="padding:0in 0in 0in 0in;width:179.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="29" valign="top" style="padding:0in 0in 0in 0in;width:22.0pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="239" valign="top" style="padding:0in 0in 0in 0in;width:179.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="29" valign="top" style="padding:0in 0in 0in 0in;width:22.0pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Maximum Senior
  Debt to EBITDA; and</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">19</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="239" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:179.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="29" valign="top" style="padding:0in 0in 0in 0in;width:22.0pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Minimum Fixed
  Charge Coverage Ratio.</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="239" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:179.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="29" valign="top" style="padding:0in 0in 0in 0in;width:22.0pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="239" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:179.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="29" valign="top" style="padding:0in 0in 0in 0in;width:22.0pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The
  following shall be excluded from financial covenant calculations: (i) guarantees
  of indebtedness of joint ventures in which the Borrower or its subsidiaries
  has a equity interest (subject to a minimum percentage equity interest
  therein to be mutually agreed upon) not to exceed a certain dollar amount (to
  be mutually agreed upon) in the aggregate; provided, however, that if and
  when any such guarantee is demanded, then such guarantee shall be included in
  the financial covenant calculations; (ii) any guarantees of Borrower or any
  of its subsidiaries entered into with respect to casinos and &#147;racinos&#148;
  managed by the Borrower or any of its subsidiaries not to exceed a certain
  dollar amount (to be mutually agreed upon) in the aggregate; provided,
  however, that if and when such guarantee is demanded, then such guarantee
  shall be included in the financial covenant calculations; and (iii) the
  Pocono Downs Put Obligation.</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="239" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:179.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="29" valign="top" style="padding:0in 0in 0in 0in;width:22.0pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0in 0in 0in 0in;width:11.8pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="415" valign="top" style="padding:0in 0in 0in 0in;width:311.35pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="191" valign="top" style="padding:0in 0in 0in 0in;width:143.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="48" valign="top" style="padding:0in 0in 0in 0in;width:.5in;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xi)</font></p>
  </td>
  <td width="460" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:345.15pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Limitations
  on capital expenditures (with carry forwards to be mutually agreed upon).</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="191" valign="top" style="padding:0in 0in 0in 0in;width:143.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="48" valign="top" style="padding:0in 0in 0in 0in;width:.5in;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="460" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:345.15pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="191" valign="top" style="padding:0in 0in 0in 0in;width:143.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="48" valign="top" style="padding:0in 0in 0in 0in;width:.5in;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xii)</font></p>
  </td>
  <td width="460" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:345.15pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Adequate
  insurance coverage.</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="191" valign="top" style="padding:0in 0in 0in 0in;width:143.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="48" valign="top" style="padding:0in 0in 0in 0in;width:.5in;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="460" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:345.15pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="191" valign="top" style="padding:0in 0in 0in 0in;width:143.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="48" valign="top" style="padding:0in 0in 0in 0in;width:.5in;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xiii)</font></p>
  </td>
  <td width="460" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:345.15pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ERISA
  covenants.</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="191" valign="top" style="padding:0in 0in 0in 0in;width:143.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="48" valign="top" style="padding:0in 0in 0in 0in;width:.5in;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="460" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:345.15pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="191" valign="top" style="padding:0in 0in 0in 0in;width:143.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="48" valign="top" style="padding:0in 0in 0in 0in;width:.5in;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xiv)</font></p>
  </td>
  <td width="460" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:345.15pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Financial
  reporting, notice of environmental, ERISA-related matters and material litigation
  and visitation and inspection rights.</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="191" valign="top" style="padding:0in 0in 0in 0in;width:143.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="48" valign="top" style="padding:0in 0in 0in 0in;width:.5in;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="460" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:345.15pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="191" valign="top" style="padding:0in 0in 0in 0in;width:143.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="48" valign="top" style="padding:0in 0in 0in 0in;width:.5in;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xv)</font></p>
  </td>
  <td width="460" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:345.15pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Compliance
  with laws, including environmental and ERISA.</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="191" valign="top" style="padding:0in 0in 0in 0in;width:143.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="48" valign="top" style="padding:0in 0in 0in 0in;width:.5in;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="460" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:345.15pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="191" valign="top" style="padding:0in 0in 0in 0in;width:143.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="48" valign="top" style="padding:0in 0in 0in 0in;width:.5in;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xvi)</font></p>
  </td>
  <td width="460" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:345.15pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Payment of taxes and other liabilities.</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="191" valign="top" style="padding:0in 0in 0in 0in;width:143.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="48" valign="top" style="padding:0in 0in 0in 0in;width:.5in;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="460" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:345.15pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="191" valign="top" style="padding:0in 0in 0in 0in;width:143.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="48" valign="top" style="padding:0in 0in 0in 0in;width:.5in;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xvii)</font></p>
  </td>
  <td width="460" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:345.15pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Limitation on changes in nature of business.</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="191" valign="top" style="padding:0in 0in 0in 0in;width:143.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="48" valign="top" style="padding:0in 0in 0in 0in;width:.5in;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="460" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:345.15pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="191" valign="top" style="padding:0in 0in 0in 0in;width:143.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="48" valign="top" style="padding:0in 0in 0in 0in;width:.5in;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xviii)</font></p>
  </td>
  <td width="460" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:345.15pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Use of proceeds.</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="191" valign="top" style="padding:0in 0in 0in 0in;width:143.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="48" valign="top" style="padding:0in 0in 0in 0in;width:.5in;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="460" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:345.15pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="191" valign="top" style="padding:0in 0in 0in 0in;width:143.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Events
  of Default:</font></p>
  </td>
  <td width="48" valign="top" style="padding:0in 0in 0in 0in;width:.5in;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="460" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:345.15pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Those events
  of default usual and customary for these types of facilities, including,
  without limitation, a change of control (with a definition to be mutually
  agreed upon) of the Borrower. Notwithstanding the foregoing, events of
  default shall not be constructed to conflict with specifically negotiated
  conditions (or the absence thereof) to borrowings for the Acquisition and the
  Refinancing set forth herein or in the Term Sheet. Except as expressly set
  forth in Annex I hereto, the foregoing shall not preclude an event of default
  from occurring on a customary basis; however, it shall in no event prevent
  satisfaction of conditions to borrowing for the Acquisition and the Target
  Refinancing </font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="191" valign="top" style="padding:0in 0in 0in 0in;width:143.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="48" valign="top" style="padding:0in 0in 0in 0in;width:.5in;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="460" valign="top" style="padding:0in 0in 0in 0in;width:345.15pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(and if
  there is not a Two Phase Syndication but only a one phase syndication, the
  Borrower Refinancing as well). In the event of any action, circumstance or
  event occurring prior to the Closing Date that adversely affects compliance
  with financial covenants or otherwise may result in an Event of Default
  following borrowings for the Acquisition and the Target Refinancing (and if
  there is not a Two Phase Syndication but only a one phase syndication, the
  Borrower Refinancing as well), the Arrangers and the Borrower will review and
  negotiate, in good faith, revised levels or other changes in order to prevent
  an Event of Default from occurring on or following the Closing Date.</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="191" valign="top" style="padding:0in 0in 0in 0in;width:143.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="48" valign="top" style="padding:0in 0in 0in 0in;width:.5in;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="460" valign="top" style="padding:0in 0in 0in 0in;width:345.15pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="191" valign="top" style="padding:0in 0in 0in 0in;width:143.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Expenses:</font></p>
  </td>
  <td width="48" valign="top" style="padding:0in 0in 0in 0in;width:.5in;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="460" valign="top" style="padding:0in 0in 0in 0in;width:345.15pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The
  Borrower shall pay (a) all reasonable out-of-pocket expenses of the Administrative
  Agent and the Arrangers associated with the syndication of the Credit
  Facilities and the preparation, execution, delivery, and administration of
  the Credit Documentation with respect to the Credit Facilities and any
  amendment or waiver with respect thereto (including the reasonable fees,
  disbursements and other charges of counsel and any Clearpar costs and
  expenses) and (b) all out-of-pocket expenses of the Administrative Agent and
  the Lenders (including the fees, disbursements and other charges of one
  counsel in addition to any local counsel as the Arrangers reasonably
  determine) in connection with the enforcement of the Credit Documentation.</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="191" valign="top" style="padding:0in 0in 0in 0in;width:143.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="48" valign="top" style="padding:0in 0in 0in 0in;width:.5in;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="460" valign="top" style="padding:0in 0in 0in 0in;width:345.15pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="191" valign="top" style="padding:0in 0in 0in 0in;width:143.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Indemnification:</font></p>
  </td>
  <td width="48" valign="top" style="padding:0in 0in 0in 0in;width:.5in;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="460" valign="top" style="padding:0in 0in 0in 0in;width:345.15pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The
  Credit Documentation will contain customary indemnities for the
  Administrative Agent, the Arrangers, the Co-Syndication Agents, any
  documentation agent, the Lenders and their respective employees, agents and
  affiliates (other than as a result of such person&#146;s gross negligence or
  willful misconduct or material breach).</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="191" valign="top" style="padding:0in 0in 0in 0in;width:143.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="48" valign="top" style="padding:0in 0in 0in 0in;width:.5in;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="460" valign="top" style="padding:0in 0in 0in 0in;width:345.15pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="191" valign="top" style="padding:0in 0in 0in 0in;width:143.1pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Counsel
  to the Administrative Agent and the Arrangers:</font></p>
  </td>
  <td width="48" valign="top" style="padding:0in 0in 0in 0in;width:.5in;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="460" valign="top" style="padding:0in 0in 0in 0in;width:345.15pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Cahill
  Gordon &amp; Reindel LLP</font></p>
  </td>
  <td width="21" valign="top" style="padding:0in 0in 0in 0in;width:15.75pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">21</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<br clear="all" style="page-break-before:always;">


<div>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">EXHIBIT A</font></u></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Annex 1 to Exhibit A</font></u></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SUMMARY OF CONDITIONS PRECEDENT TO INITIAL
EXTENSION OF CREDIT</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">All capitalized terms used herein but not defined herein shall have the
meanings provided in the Commitment Letter and Term Sheet.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The conditions precedent for the initial borrowing or issuance of
Letters of Credit under the Credit Facilities shall be those conditions precedent
set forth or reflected in the Commitment Letter, the Term Sheet and the
following:</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.38%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.2%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(1)</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="77%" valign="top" style="padding:0in .7pt 0in .7pt;width:77.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">With respect to the Transaction (excluding the
  Senior Secured Financing): (a) the Acquisition shall be consummated in all
  respects in a manner consistent with the Acquisition Agreement, unless otherwise
  consented to by the Arrangers (such consent not to be unreasonably withheld
  or delayed). Any documentation executed and delivered in connection with the
  Acquisition Agreement not delivered to the Arrangers on or prior to the date
  hereof shall be reasonably satisfactory in form and substance to the
  Arrangers. All conditions precedent to the consummation of the Acquisition,
  as set forth in the Acquisition Agreement, shall have been satisfied in all
  material respects, and not otherwise waived in any material respect except
  with the consent of the Arrangers (not to be unreasonably withheld or
  delayed), to the satisfaction of the Arrangers; and (b) such Transaction and
  the consummation thereof shall be in compliance in all material respects with
  all applicable requirements of law, rules, statutes and regulations
  (including gaming regulations) and regulatory approvals.</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.78%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.38%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.2%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="77%" valign="top" style="padding:0in .7pt 0in .7pt;width:77.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.78%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.38%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.2%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(2)</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="77%" valign="top" style="padding:0in .7pt 0in .7pt;width:77.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">With respect to the Senior Secured Financing: (a)
  the negotiation, execution and delivery of definitive Credit Documentation
  (and related Security Agreements and guaranties) consistent with the terms of
  the Commitment Letter, this Term Sheet and reasonably satisfactory to the
  Arrangers and the Administrative Agent; (b) such documentation shall be in
  full force and effect; (c) all conditions precedent to the consummation of
  such Senior Secured Financing as set forth in the documentation relating
  thereto (and consistent with the terms of the Commitment Letter and the Fee
  Letter), including the Commitment Letter, shall have been satisfied in all
  respects, and not otherwise waived in any respect except with the consent of
  the Arrangers, to the satisfaction of the Arrangers; and (d) the consummation
  thereof shall be in material compliance with all applicable laws, rules,
  statutes and regulations (including gaming regulations and Regulations T, U
  and X of the Federal Reserve Board) and regulatory approvals.</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.78%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.38%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.2%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="77%" valign="top" style="padding:0in .7pt 0in .7pt;width:77.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.78%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.38%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.2%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(3)</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="77%" valign="top" style="padding:0in .7pt 0in .7pt;width:77.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">All obligations of the Borrower, Target and their
  respective subsidiaries with respect to the indebtedness being refinanced
  pursuant to the Refinancing (other than pursuant to the Target Notes COC Offers),
  and all obligations of the Borrower and Target under the Existing Borrower
  Facilities and the Existing Target Facilities, respectively, in each case
  shall have been paid in full, and all commitments, security interests and guaranties
  in connection therewith shall</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.78%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

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<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.38%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.2%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="77%" valign="top" style="padding:0in .7pt 0in .7pt;width:77.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">have been terminated and released, all to the
  reasonable satisfaction of the Arrangers. All Existing Target Notes validly
  tendered pursuant to the Target Notes Tender/Consent shall have been
  purchased or a majority of the Existing Target Notes shall otherwise have
  been repaid and discharged and a supplemental indenture eliminating all
  significant restrictive covenants therein shall have been executed by the applicable
  trustees and Target. The Target Notes Tender/Consent shall have been effected
  in compliance with the applicable indentures and with all applicable laws,
  rules and regulations, and all required consents, if necessary shall have
  been obtained.</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.78%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.38%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.2%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="77%" valign="top" style="padding:0in .7pt 0in .7pt;width:77.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.78%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.38%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.2%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(4)</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="77%" valign="top" style="padding:0in .7pt 0in .7pt;width:77.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">After giving effect to the consummation of the
  Transaction, the Borrower and its restricted subsidiaries shall have no
  outstanding preferred equity and indebtedness or contingent liabilities in
  respect of indebtedness, except for the following (collectively, the &#147;<u>Existing
  Indebtedness</u>&#148;):</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.78%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.38%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.2%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="77%" valign="top" style="padding:0in .7pt 0in .7pt;width:77.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.78%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.38%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.2%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="77%" valign="top" style="padding:0in .7pt 0in .7pt;width:77.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; the Senior Secured Financing;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.78%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.38%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.2%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="77%" valign="top" style="padding:0in .7pt 0in .7pt;width:77.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.78%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.38%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.2%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="77%" valign="top" style="padding:0in .7pt 0in .7pt;width:77.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; to the extent that Existing Target
  Notes remain outstanding following the Target Notes Tender/Consent on the Closing
  Date, the Existing Target Notes;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.78%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.38%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.2%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="77%" valign="top" style="padding:0in .7pt 0in .7pt;width:77.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.78%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.38%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.2%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="77%" valign="top" style="padding:0in .7pt 0in .7pt;width:77.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; intercompany indebtedness of the
  Borrower and its restricted subsidiaries in amounts reasonably acceptable to
  the Arrangers, provided such intercompany indebtedness is subordinated in
  full (including without limitation in right to payment) to the Senior Secured
  Financing to the reasonable satisfaction of the Arrangers to the extent not
  prohibited by applicable gaming laws;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.78%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.38%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.2%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="77%" valign="top" style="padding:0in .7pt 0in .7pt;width:77.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.78%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.38%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.2%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="77%" valign="top" style="padding:0in .7pt 0in .7pt;width:77.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; the Borrower&#146;s 2010 Notes, the
  Borrower&#146;s 2011 Notes, and the Borrower&#146;s 11<sup>1</sup>/<sub>8</sub>% Senior
  Subordinated Notes due 2008 (and replacements or refinancings thereof having
  a longer maturity and terms otherwise reasonably satisfactory to the
  Arrangers); no new debt securities (other than as referred to otherwise in
  this clause (iv)) shall be issued without the Arrangers&#146; consent not to be
  unreasonably withheld or delayed);</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.78%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.38%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.2%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="77%" valign="top" style="padding:0in .7pt 0in .7pt;width:77.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.78%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.38%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.2%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="77%" valign="top" style="padding:0in .7pt 0in .7pt;width:77.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; capital leases and vendor and
  equipment financing indebtedness of the Borrower, Target and their respective
  restricted subsidiaries not to exceed approximately the amounts as of the date
  hereof plus that which is required in the ordinary course and consistent with
  past practices after the date hereof; and </font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.78%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.38%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.2%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="77%" valign="top" style="padding:0in .7pt 0in .7pt;width:77.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.78%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.38%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.2%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="77%" valign="top" style="padding:0in .7pt 0in .7pt;width:77.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(vi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; such other existing indebtedness and
  disclosed contingent liabilities in respect of indebtedness as shall be permitted
  by the Arrangers.</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.78%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.38%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.2%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="77%" valign="top" style="padding:0in .7pt 0in .7pt;width:77.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.78%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.38%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.2%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(5)</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="77%" valign="top" style="padding:0in .7pt 0in .7pt;width:77.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">All necessary governmental, gaming regulatory and
  third party approvals and/or consents in connection with the Transaction,
  including without limitation, the transactions contemplated by the Credit
  Facilities (excluding landlord</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.78%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.38%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.2%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="77%" valign="top" style="padding:0in .7pt 0in .7pt;width:77.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">consents under leases of the Casino Rouge and Boomtown
  Biloxi facilities so long as the applicable landlords so refuse to give such
  consents) shall have been obtained and shall remain in full force and effect,
  and all applicable waiting periods shall have expired without any action
  being taken by any competent authority which restrains, enjoins, prevents or
  imposes materially adverse conditions upon the consummation of the
  Transaction or the transactions contemplated by the Credit Facilities or otherwise
  referred to herein. Additionally, there shall not exist any judgment, order,
  injunction or other restraint, and there shall be no pending litigation or
  proceeding by any governmental entity, prohibiting, enjoining or imposing
  materially adverse conditions upon the Transaction or the transactions contemplated
  by the Credit Facilities, or on the consummation thereof. Notwithstanding the
  foregoing, it is understood that up to one asset sale in each of the State of
  Illinois and the State of Louisiana to the extent required by gaming,
  regulatory or antitrust authorities of such respective States in connection
  with the transactions contemplated hereby shall not be deemed to restrain,
  enjoin, prevent or otherwise impose materially adverse conditions upon the
  Transaction or any part thereof or the transactions contemplated by the
  Credit Facilities, or on the consummation thereof.</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.78%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.38%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.2%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="77%" valign="top" style="padding:0in .7pt 0in .7pt;width:77.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.78%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.38%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.2%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(6)</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="77%" valign="top" style="padding:0in .7pt 0in .7pt;width:77.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Borrower has complied in all respects with its
  obligations under the Fee Letter.</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.78%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.38%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.2%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="77%" valign="top" style="padding:0in .7pt 0in .7pt;width:77.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.78%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.38%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.2%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(7)</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="77%" valign="top" style="padding:0in .7pt 0in .7pt;width:77.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">After giving effect to the Transaction, the
  financings incurred in connection therewith and the other transactions
  contemplated hereby, there shall be no conflict with, or default under, any
  material agreement of the Borrower and its subsidiaries (including any such
  material agreements (i) acquired pursuant to the Acquisition, (ii) entered
  into pursuant to the Transaction and (iii) in respect of Existing Indebtedness),
  subject to such exceptions as may be agreed upon.</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.78%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.38%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.2%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="77%" valign="top" style="padding:0in .7pt 0in .7pt;width:77.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.78%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.38%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.2%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(8)</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="77%" valign="top" style="padding:0in .7pt 0in .7pt;width:77.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">All costs, fees, expenses (including, without
  limitation, reasonable legal fees and expenses) and other compensation
  contemplated hereby, payable to the Administrative Agent, the Arrangers and
  the Lenders payable in respect of the Transaction shall have been paid to the
  extent due.</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.78%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.38%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.2%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="77%" valign="top" style="padding:0in .7pt 0in .7pt;width:77.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.78%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.38%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.2%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(9)</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="77%" valign="top" style="padding:0in .7pt 0in .7pt;width:77.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Guaranties and Security Agreements required
  hereunder shall have been executed and delivered in form, scope and substance
  reasonably satisfactory to the Arrangers, and the collateral agent for the
  benefit of the Administrative Agent, the Lenders, the issuers of Letters of
  Credit, and the entities providing hedging arrangements contemplated by this
  Term Sheet shall have a first priority perfected security interest in the
  properties and assets of the Borrower and the Guarantors as and to the extent
  required above (including, without limitation, a first preferred ship&#146;s
  mortgage on all vessels owned as of the Closing Date by the Borrower and the
  Guarantors (if documented with the U.S. Coast Guard)).</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.78%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.38%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.2%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(10)</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="77%" valign="top" style="padding:0in .7pt 0in .7pt;width:77.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Lenders and the Administrative Agent shall have
  received (a) legal opinions from counsel (including, without limitation, from
  New York counsel and from local and gaming counsel in all material jurisdictions)
  covering matters reasonably acceptable to the Arrangers (including, without
  limitation, a customary enforceability opinion and a no-conflicts opinion),
  and such documents and certificates as the Arrangers or their counsel may
  reasonably request relating to the organization, existence and good standing
  of each of the Borrower and Guarantors, the authorization of the Transaction
  and any other legal matters relating to the Borrower and the Guarantors, the
  Credit Documentation or the Transaction, all in form and substance reasonably
  satisfactory to the Arrangers.</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.78%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.38%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.2%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="77%" valign="top" style="padding:0in .7pt 0in .7pt;width:77.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.78%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.38%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.2%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(11)</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="77%" valign="top" style="padding:0in .7pt 0in .7pt;width:77.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Lenders shall have received a solvency
  certificate, in form and substance reasonably satisfactory to the Arrangers,
  from the chief financial officer of the Borrower, setting forth the conclusions
  that, after giving effect to the Transaction and the incurrence of all the
  financings contemplated herein, the Borrower and the Borrower and its
  subsidiaries taken as a whole, is or are not insolvent and will not be
  rendered insolvent by the indebtedness incurred in connection therewith, and
  will not be left with unreasonably small capital with which to engage in its
  or their businesses and will not have incurred debts beyond its or their
  ability to pay such debts as they mature (which may assume that there exists
  no default or event of default on the Closing Date).</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.78%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.38%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.2%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="77%" valign="top" style="padding:0in .7pt 0in .7pt;width:77.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.78%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.38%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.2%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(12)</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="77%" valign="top" style="padding:0in .7pt 0in .7pt;width:77.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Arrangers and the Lenders shall have received
  (i) audited consolidated financial statements of the Borrower and of Target
  for the three fiscal years ended prior to the Closing Date, (ii) unaudited consolidated
  financial statements of the Borrower and of Target for each fiscal quarter
  ended after the close of its most recent fiscal year and at least 45 days
  prior to the Closing Date, (iii) pro forma consolidated financial statements
  of the Borrower and its subsidiaries (including Target and its subsidiaries)
  meeting the requirements of Regulation S-X for registration statements (as if
  such a registration statement for a debt issuance of the Borrower became
  effective on the Closing Date) on Form S-1, (iv) interim financial statements
  of the Borrower and of Target for each month ended after the date of the last
  available quarterly financial statements and at least 30 days prior to the
  Closing Date and (v) projected consolidated financial statements of the Borrower
  and its subsidiaries for five fiscal years ended after the Closing Date,
  which projections shall (A) reflect the forecasted consolidated financial
  condition of the Borrower and its subsidiaries after giving effect to the
  Transaction and the related financing thereof, and (B) be prepared and
  approved by the Borrower.</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.78%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.38%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.2%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="77%" valign="top" style="padding:0in .7pt 0in .7pt;width:77.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.78%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.38%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.2%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(13)</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="77%" valign="top" style="padding:0in .7pt 0in .7pt;width:77.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Arrangers shall have received (if requested by
  them) Phase I reports from environmental consultants (which consultants shall
  be reasonably satisfactory to the Arrangers), and such Phase II reports (if requested
  by the Arrangers) as recommended or prudently suggested by the Phase I reports,
  in each case with</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.78%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.38%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.2%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="77%" valign="top" style="padding:0in .7pt 0in .7pt;width:77.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">respect to the real properties of Target and its
  subsidiaries and such other reports, audits or certifications as is it may
  reasonably request.</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.78%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.38%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.2%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="77%" valign="top" style="padding:0in .7pt 0in .7pt;width:77.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.78%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.38%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.2%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(14)</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="77%" valign="top" style="padding:0in .7pt 0in .7pt;width:77.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Lenders and the Arrangers shall have received
  (i) customary title insurance policies (including such endorsements as the
  Arrangers may reasonably require), reasonably current certified surveys,
  evidence of zoning and other legal compliance, certificates of occupancy,
  legal opinions and other customary documentation required by the Arrangers
  with respect to all real property subject to mortgages (with exceptions to be
  mutually agreed upon); (ii) customary appraisals from an appraiser(s)
  reasonably satisfactory to the Arrangers, of the properties and assets to be
  agreed upon of the Borrower and its subsidiaries after giving effect to the
  Transaction; and (iii) FIRREA appraisals to the extent required by applicable
  law or regulation.</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.78%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.38%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.2%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="77%" valign="top" style="padding:0in .7pt 0in .7pt;width:77.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.78%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.38%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.2%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(15)</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="77%" valign="top" style="padding:0in .7pt 0in .7pt;width:77.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Arrangers shall have received a certificate,
  dated the date of the initial extension of credit and signed by a senior
  officer of the Borrower, confirming compliance with certain conditions
  precedent and other customary confirmatory documentation.</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.78%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.38%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.2%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="77%" valign="top" style="padding:0in .7pt 0in .7pt;width:77.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.78%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.38%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.2%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(16)</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="77%" valign="top" style="padding:0in .7pt 0in .7pt;width:77.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">With respect to the funding of the Acquisition and
  the Target Refinancing,</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.78%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.38%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.2%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="77%" valign="top" style="padding:0in .7pt 0in .7pt;width:77.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.78%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.38%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.2%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="77%" valign="top" style="padding:0in .7pt 0in .7pt;width:77.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; there shall not have occurred a
  material and willful or knowing breach of any representations and warranties
  and such breach results from intentional acts or omissions within the Borrower&#146;s
  control or knowledge;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.78%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.38%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.2%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="77%" valign="top" style="padding:0in .7pt 0in .7pt;width:77.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.78%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.38%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.2%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="77%" valign="top" style="padding:0in .7pt 0in .7pt;width:77.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; there shall not have occurred a
  breach of customary representations and warranties concerning the accuracy of
  information supplied or made available to the Arrangers (to the knowledge of
  the Borrower with respect to information relating to Target) and the
  inaccuracy is material and adverse with respect to the Borrower and its
  subsidiaries, taken as a whole, after giving effect to the Transaction; and</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.78%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.38%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.2%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="77%" valign="top" style="padding:0in .7pt 0in .7pt;width:77.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.78%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.38%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.2%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="77%" valign="top" style="padding:0in .7pt 0in .7pt;width:77.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; no default or event of default
  arising from any of the following shall exist: (i) a willful and material
  breach (resulting from intentional acts or omissions within the Borrower&#146;s
  control) by the Borrower of any negative or affirmative covenant (excluding
  financial covenants) contained in the Credit Documentation; (ii) a failure by
  the Borrower to make payments under the Credit Documentation; (iii) payment
  defaults on other material indebtedness of the Borrower or any of its
  subsidiaries; (iv) a change of control of the Borrower (with a definition to
  be mutually agreed upon) shall have occurred; or (v) customary bankruptcy or
  insolvency events in respect of the Borrower shall have occurred.</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.78%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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</html>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>4
<FILENAME>a04-12765_1ex99d1.htm
<DESCRIPTION>EX-99.1
<TEXT>
<html>

<head>





</head>

<body lang="EN-US" link="blue" vlink="purple">

<div>

<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit 99.1</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="51%" style="padding:0in 0in 0in 0in;width:51.86%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">News Announcement</font></b></p>
  </td>
  <td width="48%" valign="top" style="padding:0in 0in 0in 0in;width:48.14%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman"><img width="344" height="81" src="g127651mmimage002.jpg"></font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="26%" valign="top" style="padding:0in 0in 0in 0in;width:26.86%;">
  <p style="margin:0in 0in .0001pt;"><b><i><font size="2" face="Times New Roman" style="font-size:1.0pt;font-style:italic;font-weight:bold;">&nbsp;</font></i></b></p>
  </td>
  <td width="16%" valign="top" style="padding:0in 0in 0in 0in;width:16.3%;">
  <p style="margin:0in 0in .0001pt;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">Conference Call:</font></i></b></p>
  </td>
  <td width="56%" valign="top" style="padding:0in 0in 0in 0in;width:56.84%;">
  <p style="margin:0in 0in .0001pt;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">Today, November 3, 2004 at 5:30
  p.m. EST</font></i></b></p>
  </td>
 </tr>
 <tr>
  <td width="26%" valign="top" style="padding:0in 0in 0in 0in;width:26.86%;">
  <p style="margin:0in 0in .0001pt;"><b><i><font size="2" face="Times New Roman" style="font-size:1.0pt;font-style:italic;font-weight:bold;">&nbsp;</font></i></b></p>
  </td>
  <td width="16%" valign="top" style="padding:0in 0in 0in 0in;width:16.3%;">
  <p style="margin:0in 0in .0001pt;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">Dial-in number:</font></i></b></p>
  </td>
  <td width="56%" valign="top" style="padding:0in 0in 0in 0in;width:56.84%;">
  <p style="margin:0in 0in .0001pt;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">888/753-6310</font></i></b></p>
  </td>
 </tr>
 <tr>
  <td width="26%" valign="top" style="padding:0in 0in 0in 0in;width:26.86%;">
  <p style="margin:0in 0in .0001pt;"><b><i><font size="2" face="Times New Roman" style="font-size:1.0pt;font-style:italic;font-weight:bold;">&nbsp;</font></i></b></p>
  </td>
  <td width="16%" valign="top" style="padding:0in 0in 0in 0in;width:16.3%;">
  <p style="margin:0in 0in .0001pt;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">Webcast:</font></i></b></p>
  </td>
  <td width="56%" valign="top" style="padding:0in 0in 0in 0in;width:56.84%;">
  <p style="margin:0in 0in .0001pt;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">www.companyboardroom.com</font></i></b></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">&nbsp;</font></i></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">Replay
information provided below.</font></i></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="30%" valign="top" style="padding:0in 0in 0in 0in;width:30.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">CONTACT:</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.78%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="36%" valign="top" style="padding:0in 0in 0in 0in;width:36.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.88%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="28%" valign="top" style="padding:0in 0in 0in 0in;width:28.66%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="30%" valign="top" style="padding:0in 0in 0in 0in;width:30.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">William J. Clifford</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.78%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="36%" valign="top" style="padding:0in 0in 0in 0in;width:36.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Dale Black</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.88%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="28%" valign="top" style="padding:0in 0in 0in 0in;width:28.66%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Joseph N. Jaffoni, Richard Land</font></p>
  </td>
 </tr>
 <tr>
  <td width="30%" valign="top" style="padding:0in 0in 0in 0in;width:30.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Chief Financial Officer</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.78%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="36%" valign="top" style="padding:0in 0in 0in 0in;width:36.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Chief Financial Officer</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.88%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="28%" valign="top" style="padding:0in 0in 0in 0in;width:28.66%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Jaffoni &amp; Collins Incorporated</font></p>
  </td>
 </tr>
 <tr>
  <td width="30%" valign="top" style="padding:0in 0in 0in 0in;width:30.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Penn National Gaming, Inc.</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.78%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="36%" valign="top" style="padding:0in 0in 0in 0in;width:36.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Argosy Gaming Company</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.88%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="28%" valign="top" style="padding:0in 0in 0in 0in;width:28.66%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">212/835-8500</font></p>
  </td>
 </tr>
 <tr>
  <td width="30%" valign="top" style="padding:0in 0in 0in 0in;width:30.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">610/373-2400</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.78%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="36%" valign="top" style="padding:0in 0in 0in 0in;width:36.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">618/474-7500</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.88%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="28%" valign="top" style="padding:0in 0in 0in 0in;width:28.66%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">penn@jcir.com</font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">FOR
IMMEDIATE RELEASE</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">PENN NATIONAL GAMING TO ACQUIRE
ARGOSY GAMING COMPANY</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">CREATING NATION&#146;S THIRD LARGEST
CASINO OPERATOR</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ARGOSY SHAREHOLDERS TO RECEIVE
$47.00 PER SHARE IN CASH</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">TRANSACTION VALUED AT $2.2
BILLION</font></b></p>

<p style="font-weight:bold;line-height:normal;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Wyomissing, Penn. and Alton, Ill. (November 3, 2004) &#151; Penn National
Gaming, Inc. (Nasdaq: PENN) and Argosy Gaming Company (NYSE: AGY) announced
today that their boards of directors have unanimously approved a definitive
merger agreement under which Penn National will acquire all of the outstanding
shares of Argosy Gaming for $47.00.&#160; The
all-cash price of $47.00 per share represents an approximate 16% premium over
the closing share price of Argosy Gaming on November 2, and an approximate 30%
premium over the average closing share price of Argosy Gaming over the past
ninety days.&#160; The transaction is valued
at approximately $2.2 billion, including approximately $805 million of
long-term debt of Argosy Gaming and its subsidiaries.&#160; Upon closing, the transaction is expected to
be immediately accretive to Penn National&#146;s earnings per share.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The combined company will be the third largest operator of gaming
properties in the U.S. with annual revenue in excess of $2 billion, over 20,000
slot machines, and approximately 700,000 square feet of casino space.&#160; Upon completion of the transaction, and
reflecting previously announced divestitures, acquisitions and projects under
development, Penn National will own thirteen gaming facilities; four
pari-mutuel horse racing facilities and seven off-track wagering sites; a 50%
interest in a fifth pari-mutuel horse racing facility; and hold a management
contract for a casino in Canada.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">-more-</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">For the twelve months ended September 30, 2004, Argosy Gaming generated
net revenues of approximately $1 billion and EBITDA (earnings before interest,
taxes, depreciation and amortization) of approximately $260 million.&#160; The value of the transaction represents a
multiple of approximately 8.5 times Argosy&#146;s EBITDA for the twelve month period
ended September 30, 2004.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Commenting on the transaction, Peter M. Carlino, Chairman and Chief
Executive Officer of Penn National, said, &#147;This is an extraordinarily powerful
combination that creates the nation&#146;s third largest operator of gaming
properties with a presence in nearly every major regional gaming market.&#160; This transaction will enable us to further
broaden our revenue base and diversify our cash flow by jurisdiction and by
property.&#160; Argosy&#146;s properties are quite
similar to our own and our operating strategies are also consistent.&#160; Both companies have excellent, long-term
records of growth, both are multi-jurisdictional operators of high-quality
regional gaming properties with a strong emphasis on slots, and both entities
have proven their ability to identify growth and expansion opportunities which
create exciting entertainment destinations and value for shareholders.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;The acquisition of these well-established properties represents
another significant growth and expansion opportunity for Penn National and is
attractive both strategically and financially.&#160;
The acquisition, which essentially doubles our revenue and EBITDA, is
expected to be immediately accretive to our operating results upon closing,
builds critical mass for our gaming operations and provides in-market
opportunities in several regions while further diversifying our geographic
reach to three new markets.&#160; The combined
entity will benefit from a broader, deeper base of properties and management
and will generate significant free cash flow available for debt reduction and
further investment in our portfolio of properties.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;Argosy shares a common vision for growth with Penn National as both
organizations have several visible near-term growth and development
projects.&#160; Argosy&#146;s recently-announced
acquisition of Raceway Park in Ohio and new expansions in Sioux City, Riverside
and Lawrenceburg, like our own expansion and development projects underway or
about to be commenced at Penn National Race Course, Bangor Historic Track and
Charles Town Races, are all exciting investments that we expect will deliver
superior results.&#160; As with past
acquisitions, we intend to blend the successful operating and management
disciplines of both companies to generate improved financial performance over
prior year periods.&#160; Additionally, Penn
National expects to achieve approximately $20 million in corporate cost savings
within the first year of closing the transaction.&#148;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;This is the right transaction for Argosy Gaming and its shareholders
and we are delighted to be joining Penn National,&#148; said Richard J. Glasier,
President and Chief Executive Officer of Argosy Gaming Company.&#160; &#147;We believe this transaction delivers premium
value to our shareholders and will create increased opportunities for our
employees.&#160; We are confident that our
properties will continue to generate impressive operating results as part of
the Penn National platform.&#160; We are
committed to completing the transaction as expeditiously as possible and
ensuring a seamless transition.&#148;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Conditions</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The transaction is subject to approval by the Argosy Gaming
stockholders and by each company&#146;s respective state regulatory bodies, and to
certain other necessary regulatory approvals and other customary closing
conditions contained in the merger agreement.&#160;
The transaction is not conditioned on financing and is expected to close
in the second half of 2005.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Company has received a $2.9 billion senior secured underwritten
commitment from Deutsche Bank, an affiliate of Goldman, Sachs &amp; Co. and
Lehman Brothers to finance the transaction.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Goldman, Sachs &amp;
Co., Bear, Stearns &amp; Co. Inc. and Lehman Brothers acted as financial
advisor and Skadden Arps Slate Meagher &amp; Flom LLP acted as legal advisor to
Penn National Gaming.&#160; Morgan Stanley
acted as financial advisor and Davis Polk &amp; Wardwell acted as legal advisor
to Argosy Gaming Company.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Penn National and Argosy
Gaming will be hosting a conference call and simultaneous webcast which will
include a corporate presentation at 5:30 p.m. EST today, both of which are open
to the general public.&#160; The conference
call number is 888/753-6310; please call five minutes in advance to ensure that
you are connected prior to the presentation.&#160;
Questions and answers will be reserved for call-in analysts and
investors.&#160; Interested parties may also
access the live call on the Internet at www.companyboardroom.com or at
www.pngaming.com or www.argosycasinos.com; allow 15 minutes to register and
download and install any necessary software.&#160;
Following its completion, a replay of the call can be accessed until
November 12, by dialing 800/633-8284 or 402/977-9140 (international
callers).&#160; The access code for the replay
is 21213058.&#160; A replay of the call can
also be accessed for thirty days on the Internet via www.companyboardroom.com.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

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</font></div>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Additionally, Penn
National and Argosy Gaming will participate in an audio webcast in conjunction
with their presentation at the Deutsche Bank Hospitality &amp; Gaming
Conference on Thursday, November 4, 2004 at 7:30 a.m. EST.&#160; Interested parties may access the
presentation on the Internet at www.pngaming.com or www.argosycasinos.com.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">About Penn National Gaming</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Penn National Gaming owns and operates: Hollywood Casino in Aurora,
Illinois; Charles Town Races &amp; Slots&#153; in Charles Town, West Virginia; the
Casino Rouge in Baton Rouge, Louisiana; the Bullwhackers casino properties in
Black Hawk, Colorado, and three Mississippi casinos: Hollywood Casino in
Tunica, Casino Magic in Bay St. Louis and the Boomtown Biloxi casino in Biloxi.&#160; Penn National also owns and operates Penn
National Race Course in Grantville, Pennsylvania and its six affiliated
off-track wagering facilities; the racetrack at Bangor Raceway in Bangor,
Maine; a 50% interest in the Pennwood Racing Inc. joint venture, which owns and
operates Freehold Raceway in New Jersey; and the Company operates Casino Rama,
a gaming facility located approximately 90 miles north of Toronto, Canada,
pursuant to a management contract.&#160; As
previously announced, Penn National is currently in the process of effecting
dispositions of the Hollywood Casino in Shreveport, Louisiana and The Downs at
Pocono in Wilkes-Barre, Pennsylvania and its five off-track wagering
facilities.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">About Argosy Gaming Company</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Argosy Gaming Company is a leading owner and operator of casinos and
related entertainment and hotel facilities in the midwestern and southern
United States. Argosy owns and operates the Alton Belle Casino in Alton,
Illinois, serving the St. Louis metropolitan market; the Argosy
Casino-Riverside in Missouri, serving the greater Kansas City metropolitan
market; the Argosy Casino-Baton Rouge in Louisiana; the Argosy Casino-Sioux
City in Iowa; the Argosy Casino-Lawrenceburg in Indiana, serving the Cincinnati
and Dayton metropolitan markets; and the Empress Casino Joliet in Illinois
serving the greater Chicagoland market.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

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</font></div>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Forward
Looking Language</font></b></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In
addition to historical facts or statements of current condition, this press
release contains forward-looking statements made by Penn National or Argosy
Gaming (collectively, the &#147;Companies&#148;) within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Securities Exchange
Act of 1934, as amended.&#160; Some of these
statements include without limitation those regarding the accretive nature of
the merger, synergies arising from the merger, future capital expenditures and
prospects for future growth.&#160; These
statements are subject to a number of risks and uncertainties that could cause
the statements made to be incorrect and the actual results to differ
materially.&#160; The Companies describe
certain of these risks and uncertainties in their filings with the Securities
and Exchange Commission, including their Annual Reports on Form 10-K for the
year ended December 31, 2003.&#160; Some of
these risks include without limitation those relating to the ability of the
Penn National to integrate and manage facilities it acquires, risks relating to
the development and expansion of properties, risks of increased competition,
risks relating to the economy and interest rates, risks relating to possible
increases in our effective rate of taxation, risks associated with failure by
Penn National to obtain acquisition financing, and risks relating to the fact that
both entities are heavily regulated by gaming authorities.&#160; In addition, consummation of Penn National&#146;s
acquisition of Argosy Gaming is subject to several conditions including the
approval of various governmental entities, including certain gaming regulatory
authorities to which the Companies are subject.&#160;
Furthermore, the Companies do not intend to update publicly any
forward-looking statements except as required by law.&#160; The cautionary advice in this paragraph is
permitted by the Private Securities Litigation Reform Act of 1995.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In connection with the proposed merger, Argosy will file a proxy
statement and other relevant documents with the Securities and Exchange
Commission (SEC).&#160; INVESTORS AND SECURITY
HOLDERS ARE URGED TO READ THE PROXY STATEMENT WHEN IT BECOMES AVAILABLE AS IT
WILL CONTAIN IMPORTANT INFORMATION ABOUT THE MERGER AND RELATED MATTERS.&#160; INVESTORS AND SECURITY HOLDERS WILL HAVE
ACCESS TO FREE COPIES OF THE PROXY STATEMENT (WHEN AVAILABLE) AND OTHER
DOCUMENTS FILED WITH THE SEC BY ARGOSY THROUGH THE SEC WEB SITE AT
WWW.SEC.GOV.&#160; THE PROXY STATEMENT AND
RELATED MATERIALS MAY ALSO BE OBTAINED FOR FREE (WHEN AVAILABLE) FROM ARGOSY BY
DIRECTING A REQUEST TO: Argosy Gaming Company, Attn: Investor Relations
Department, 219 Piasa Street, Alton, IL&nbsp; 62002, telephone (618) 474-7500.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt .25in;text-align:center;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">#&#160;&#160; #&#160;&#160; #</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit 99.2</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">CONSULTING AGREEMENT</font></u></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This Consulting Agreement
(&#147;Agreement&#148;) is made and entered into as of November 3, 2004, and shall become
effective as of the Effective Date (as hereinafter defined), by and between
Penn National Gaming, Inc., a Pennsylvania corporation (&#147;Company&#148;), and Richard
J. Glasier (&#147;Consultant&#148;).</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WHEREAS, the Company and
Consultant&#146;s employer, Argosy Gaming Company, a Delaware corporation (&#147;Argosy&#148;),
are simultaneously entering into an Agreement and Plan of Merger (&#147;Merger
Agreement&#148;) pursuant to which and subject to the terms and conditions set forth
therein Argosy will become a subsidiary of the Company (the &#147;Merger&#148;);</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WHEREAS, as a result of
the Merger, it is contemplated that Consultant will retire from his status as
an employee of Argosy, and the Company will desire to continue to draw on
Consultant&#146;s experience and knowledge by entering into a consulting
relationship with Consultant; and</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WHEREAS, following the
Merger, Consultant will desire to enter into a consulting relationship with
Company upon the terms and conditions hereinafter contained;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">NOW, THEREFORE, in
consideration of the covenants and agreements herein set forth and of the
mutual benefits accruing to Company and to Consultant from the consulting
relationship to be established between the parties by the terms of this
Agreement, Company and Consultant agree as follows:</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Effective Date</u>.&#160; This Agreement shall become effective
simultaneously with the effectiveness of the Merger contemplated by the Merger
Agreement (the date of the effectiveness of the Merger being hereinafter called
the &#147;Effective Date&#148;).</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Consulting Relationship</u>.&#160; Upon consummation of the Merger, Company
hereby retains Consultant, and Consultant hereby agrees to be retained by
Company, as an independent consultant, and not as an employee.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Term</u>.&#160; The term of this Agreement shall begin on the
Effective Date and shall continue for 180 days (such period being hereinafter
called the &#147;Term&#148;); provided that, this Agreement shall terminate immediately
upon the date of Consultant&#146;s death.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Consulting Services</u>.&#160; Consultant agrees that during the Term of
this Agreement:</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Consultant
shall assist and advise the Company with respect to (i) integration of the
former Argosy business with the other businesses of the Company, (ii) casino
development and expansion opportunities; (iii) local political matters relating
to the former Argosy casino properties; and (iv) such other matters as
reasonably requested by the Company&#146;s Chief Executive Officer, and as are
consistent with the nature of the duties performed by Consultant during his
active service with Company;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Consultant
shall report directly to the Company&#146;s Chief Executive Officer;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Consultant
shall be available to render services to Company under this Agreement for not
more than fifty (50) hours during any 30-day period during the Term; and</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Consultant
shall have sole discretion to determine the location from which he will provide
the services required under this Agreement and in no event shall he be required
to relocate, or render services from, the principal offices of the Company.</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Compensation</u>.&#160; Company agrees to pay Consultant for his
services performed under this Agreement at the rate of $10,000.00 for each of
the six 30-day periods during the Term, whether or not services are actually
rendered hereunder, payable on the first day of each such 30-day period.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Expense Reimbursement</u>.&#160; The Company agrees to reimburse consultant
for all travel and other costs and expenses reasonably incurred by Consultant
in the performance of his duties hereunder.&#160;
The Company shall timely reimburse Consultant for all such expenses
submitted with reasonable documentation in a manner consistent with the travel
and expense policies generally applicable to the Company&#146;s officers.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Benefits</u>.&#160; During the Term and at all times thereafter
until the date Consultant becomes eligible for benefits under title XVIII of
the Social Security Act (Medicare)</font><font face="Times New Roman"> or, in the
event of Consultant&#146;s death before becoming eligible for Medicare, until such
time as his spouse becomes eligible for Medicare,</font><font face="Times New Roman"> the Company
shall provide Consultant and his spouse with health benefit coverage under the
Company&#146;s group health benefit plan for active employees, at no cost to
Consultant (or his spouse), and on terms and conditions that are no less
favorable than those available to any active employee of the Company,
including, but not limited to, the right to elect among various health benefit
plan coverage options.&#160; Except as
provided in the immediate preceding sentence or otherwise made available
pursuant to his employment agreement with Argosy, the terms of any employee
benefit plan or applicable law (including, but not limited to, COBRA),
Consultant shall not be entitled to participate in or receive benefits under
any Company programs maintained for its employees, including, without
limitation, life, disability benefits, pension, profit sharing or other
retirement plans or other fringe benefits.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Support, Supplies and Office
Space</u>.&#160; The Company will provide
Consultant with suitable administrative support (as determined by Consultant)
during the Term including, among other things, secretarial support,
photocopying and facsimile services, voice mail access, remote e-mail access,
message taking services, mail receipt, office furniture, utilities, office
equipment, and office supplies.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Indemnification and Insurance</u>.&#160; For the period from the Effective Date
through at least the sixth anniversary of Consultant&#146;s termination of service with
the Company, the Company agrees to maintain Consultant as an insured party on
all directors&#146; and officers&#146; insurance maintained by the Company for the
benefit of its directors and officers on at least the same basis as all other
covered individuals and provide Consultant with at least the same corporate
indemnification as its officers.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>General</u>.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Amendment</u>.&#160; This Agreement may only be amended by written
agreement between the Company and Consultant.</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Assignability</u>.&#160; This Agreement may not be assigned by either
party without the prior written consent of the other party, except that no
consent is necessary for the Company to assign this Agreement to a corporation
succeeding to substantially all the assets or business of the Company whether by
merger, consolidation, acquisition, or otherwise.</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Applicable
Law</u>.&#160; It is the intention of the
parties hereto that all questions with respect to the construction and
performance of this Agreement and the rights and liabilities of the parties
hereto shall be determined in accordance with the laws of the State of
Illinois.&#160; The parties hereto submit to
the jurisdiction of the courts of Illinois in respect of any matter or thing
arising out of this Agreement or pursuant thereto.</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Taxes
and Statutory Obligations</u>.&#160; As an
independent contractor, Consultant will be solely responsible for all taxes,
withholdings, and other similar statutory obligations, including, but not
limited to, Workers&#146; Compensation Insurance laws.</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Survival</u>.&#160; All Sections of this Agreement survive beyond
the Term except as otherwise specifically stated.</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(f)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Counterparts</u>.&#160; This Agreement may be executed in any number
of counterparts with the same effect as if each of the parties had signed the
same document.&#160; All counterparts shall be
construed together and shall constitute one and the same instrument.</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[signature page follows]</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">IN WITNESS WHEREOF, the parties hereto have executed
this Agreement as of the day and the year first above written.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="50%" colspan="4" valign="top" style="padding:0in 0in 0in 0in;width:50.66%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">PENN
  NATIONAL GAMING, INC.</font></b></p>
  </td>
  <td width="49%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:49.34%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" colspan="4" valign="top" style="padding:0in 0in 0in 0in;width:50.66%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="49%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:49.34%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" colspan="4" valign="top" style="padding:0in 0in 0in 0in;width:50.66%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="49%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:49.34%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.34%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By</font></p>
  </td>
  <td width="25%" colspan="2" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:25.42%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Peter M.
  Carlino</font></p>
  </td>
  <td width="21%" valign="top" style="padding:0in 0in 0in 0in;width:21.9%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="34%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:34.52%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Richard J.
  Glasier</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.82%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" colspan="4" valign="top" style="padding:0in 0in 0in 0in;width:50.66%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="49%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:49.34%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="3%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:3.92%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;&nbsp;Its</font></p>
  </td>
  <td width="24%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:24.84%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Chief Executive Officer</font></p>
  </td>
  <td width="21%" valign="top" style="padding:0in 0in 0in 0in;width:21.9%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="49%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:49.34%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Richard
  J. Glasier</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="50%" colspan="4" valign="top" style="padding:0in 0in 0in 0in;width:50.66%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="49%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:49.34%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Consultant</font></b></p>
  </td>
 </tr>
 <tr height="0">
  <td width="25" style="border:none;"></td>
  <td width="4" style="border:none;"></td>
  <td width="186" style="border:none;"></td>
  <td width="164" style="border:none;"></td>
  <td width="258" style="border:none;"></td>
  <td width="111" style="border:none;"></td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.3
<SEQUENCE>6
<FILENAME>a04-12765_1ex99d3.htm
<DESCRIPTION>EX-99.3
<TEXT>
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<body lang="EN-US">

<div>

<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit 99.3</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">CONSULTING AGREEMENT</font></u></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This Consulting Agreement
(&#147;Agreement&#148;) is made and entered into as of November 3, 2004, and shall become
effective as of the Effective Date (as hereinafter defined), by and between
Penn National Gaming, Inc., a Pennsylvania corporation (&#147;Company&#148;), and
Virginia McDowell (&#147;Consultant&#148;).</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WHEREAS, the Company and
Consultant&#146;s employer, Argosy Gaming Company, a Delaware corporation (&#147;Argosy&#148;),
are simultaneously entering into an Agreement and Plan of Merger (&#147;Merger
Agreement&#148;) pursuant to which and subject to the terms and conditions set forth
therein Argosy will become a subsidiary of the Company (the &#147;Merger&#148;);</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WHEREAS, as a result of
the Merger, it is contemplated that Consultant will retire from her status as
an employee of Argosy, and the Company will desire to continue to draw on
Consultant&#146;s experience and knowledge by entering into a consulting
relationship with Consultant; and</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WHEREAS, following the
Merger, Consultant will desire to enter into a consulting relationship with
Company upon the terms and conditions hereinafter contained;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">NOW, THEREFORE, in
consideration of the covenants and agreements herein set forth and of the
mutual benefits accruing to Company and to Consultant from the consulting
relationship to be established between the parties by the terms of this
Agreement, Company and Consultant agree as follows:</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.35in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Effective Date</u>.&#160; This Agreement shall become effective
simultaneously with the effectiveness of the Merger contemplated by the Merger
Agreement (the date of the effectiveness of the Merger being hereinafter called
the &#147;Effective Date&#148;).</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.35in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Consulting Relationship</u>.&#160; Upon consummation of the Merger, Company
hereby retains Consultant, and Consultant hereby agrees to be retained by
Company, as an independent consultant, and not as an employee.&#160; Consultant&#146;s employment with the Company and
Argosy terminated on the Effective Date, and the one-year non-compete period
under the Consultants&#146; employment agreement with Argosy dated September 23,
2002 (the &#147;Argosy Employment Agreement&#148;), begins on the Effective Date.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.35in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Term</u>.&#160; The term of this Agreement shall begin on the
Effective Date and shall continue for 180 days (such period being hereinafter
called the &#147;Term&#148;); provided that, this Agreement shall terminate immediately
upon the date of Consultant&#146;s death.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.35in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Consulting Services</u>.&#160; Consultant agrees that during the Term of
this Agreement:</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Consultant shall assist and advise
the Company with respect to (i) integration of the former Argosy business with
the other businesses of the Company, (ii) casino marketing programs and data
warehouse and related information technology programs; (iii) casino operations
matters at the former Argosy casino properties; and (iv) such other matters as
reasonably requested by the Company&#146;s Chief Executive Officer, and as are
consistent with the nature of the duties performed by Consultant during her
active service with Company;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Consultant shall report directly to
the Company&#146;s President;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Consultant shall be available to
render services to Company under this Agreement for not more than one hundred
(100) hours during any 30-day period during the Term; and</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Consultant shall have sole discretion
to determine the location from which she will provide the services required
under this Agreement and in no event shall she be required to relocate, or
render services from, the principal offices of the Company.</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.35in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Compensation</u>.&#160; Company agrees to pay Consultant for her
services performed under this Agreement at the rate of $25,000.00 for each of
the six 30-day periods during the Term, whether or not services are actually
rendered hereunder payable on the first day of each such 30-day period.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.35in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Expense Reimbursement</u>.&#160; The Company agrees to reimburse consultant
for all travel and other costs and expenses reasonably incurred by Consultant
in the performance of her duties hereunder.&#160;
The Company shall timely reimburse Consultant for all such expenses
submitted with reasonable documentation in a manner consistent with the travel
and expense policies generally applicable to the Company&#146;s officers.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.35in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Benefits</u>.&#160; Except as made available pursuant to her
Argosy Employment Agreement, Consultant shall not be entitled to participate in
or receive benefits under any Company programs maintained for its employees,
including, without limitation, life, disability benefits, pension, profit
sharing or other retirement plans or other fringe benefits.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.35in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Support, Supplies and
Office Space</u>.&#160; The Company will
provide the Consultant with suitable administrative support (as determined by
Consultant) during the Term including, among other things, secretarial support,
photocopying and facsimile services, voice mail access, remote e-mail access,
message taking services, mail receipt, office furniture, utilities, office
equipment, and office supplies.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.35in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Indemnification and
Insurance</u>.&#160; For the period from the
Effective Date through at least the sixth anniversary of Consultant&#146;s
termination of service with the Company, the Company agrees to maintain Consultant
as an insured party on all directors&#146; and officers&#146; insurance maintained by the
Company for the benefit of its directors and officers on at least the same
basis as all other covered individuals and provide Consultant with at least the
same corporate indemnification as its officers.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.35in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>General</u>.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Amendment</u>.&#160; This Agreement may only be amended by written
agreement between the Company and Consultant.</font></p>

<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Assignability</u>.&#160; This Agreement may not be assigned by either
party without the prior written consent of the other party, except that no
consent is necessary for the Company to assign this Agreement to a corporation
succeeding to substantially all the assets or business of the Company whether
by merger, consolidation, acquisition, or otherwise.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Applicable Law</u>.&#160; It is the intention of the parties hereto
that all questions with respect to the construction and performance of this
Agreement and the rights and liabilities of the parties hereto shall be
determined in accordance with the laws of the State of Illinois.&#160; The parties hereto submit to the jurisdiction
of the courts of Illinois in respect of any matter or thing arising out of this
Agreement or pursuant thereto.</font></p>

<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Taxes and Statutory Obligations</u>.&#160; As an independent contractor, Consultant will
be solely responsible for all taxes, withholdings, and other similar statutory
obligations, including, but not limited to, Workers&#146; Compensation Insurance
laws.</font></p>

<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Survival</u>.&#160; All Sections of this Agreement survive beyond
the Term except as otherwise specifically stated.</font></p>

<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(f)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Counterparts</u>.&#160; This Agreement may be executed in any number
of counterparts with the same effect as if each of the parties had signed the
same document.&#160; All counterparts shall be
construed together and shall constitute one and the same instrument.</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[signature page follows]</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">IN WITNESS WHEREOF, the parties hereto have executed
this Agreement as of the day and the year first above written.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="56%" colspan="4" valign="top" style="padding:0in .7pt 0in .7pt;width:56.46%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">PENN
  NATIONAL GAMING, INC.</font></b></p>
  </td>
  <td width="43%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:43.54%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="56%" colspan="4" valign="top" style="padding:0in .7pt 0in .7pt;width:56.46%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="43%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:43.54%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="3%" valign="top" style="padding:0in .7pt 0in .7pt;width:3.2%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By</font></p>
  </td>
  <td width="25%" colspan="2" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:25.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Peter M.
  Carlino</font></p>
  </td>
  <td width="27%" valign="top" style="padding:0in .7pt 0in .7pt;width:27.7%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="30%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:30.48%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Virginia
  McDowell</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.06%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="56%" colspan="4" valign="top" style="padding:0in .7pt 0in .7pt;width:56.46%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="43%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:43.54%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="3%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:3.82%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp; Its</font></p>
  </td>
  <td width="24%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:24.94%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Chief Executive Officer</font></p>
  </td>
  <td width="27%" valign="top" style="padding:0in .7pt 0in .7pt;width:27.7%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="43%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:43.54%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Virginia
  McDowell</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="3%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:3.82%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="24%" valign="top" style="padding:0in .7pt 0in .7pt;width:24.94%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="27%" valign="top" style="padding:0in .7pt 0in .7pt;width:27.7%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="43%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:43.54%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Consultant
  </font></b></p>
  </td>
 </tr>
 <tr height="0">
  <td width="24" style="border:none;"></td>
  <td width="5" style="border:none;"></td>
  <td width="187" style="border:none;"></td>
  <td width="207" style="border:none;"></td>
  <td width="228" style="border:none;"></td>
  <td width="98" style="border:none;"></td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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end

</TEXT>
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</SUBMISSION>
