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                                                                  EXHIBIT 10.68

              HYPOTHEC ON MOVABLE PROPERTY entered into this 14th day of
              December, 2001

                                                              BETWEEN:

                                               THE BANK OF NOVA SCOTIA, with the
                                               Branch located at 44 King Street
                                               West, Toronto, Ontario, M5H 1H1

                                               (the "Bank")

                                               The Bank's notice of address has
                                               been registered in the Register
                                               of Personal and Movable Real
                                               Rights under the number:
                                               -------------------------------

              AND

                                               PRIMES DE LUXE INC., with its
                                               head office located at 909 Boul.
                                               Pierre-Bertrand, Bureau 100,
                                               Vanier, Quebec, G1M 3R9

                                               (the "Grantor")

              WHO AGREE AS FOLLOWS:

              I   HYPOTHEC

                  1. For good and valid consideration, the Grantor hereby grants
DELETE               to the Bank a hypothec on  and a security  interest in the
INAPPICABLE          following property (the "hypothecated property"), for a sum
DESCRIPTIONS         of Fifty Million Dollars ($50,000,000), with interest at
(REFER LOAN          the nominal rate of   twenty per cent (20%) per annum from
MANUAL)              the date hereof:

                    DESCRIPTION OF THE HYPOTHECATED PROPERTY

                     (a)   All the Grantor's movable property, corporeal and
                           incorporeal, present and future, whenever situated.
SIGNATORIES AND
WITNESSES INITIAL    (b)   All the Grantor's inventory, present and future,
DELETIONS                  wherever situated.

                     (c)   All the Grantor's debts, claims and rights of action,
                           present and future, regardless of where the debtors
                           of these debts, claims and rights of action are
                           located.

                     (d)   All the Grantor's present and future equipment,
                           machinery, tools and office furniture, wherever
                           situated.

                     (e)   Property described in the Schedule B.

                  2. The following property, to the extent that it is not
                     already included in the property described in paragraph 1
                     or in Schedule B, is also charged by the hypothec and
                     security interest constituted herein. The expression
                     "hypothecated property" thus also includes the following
                     property:

                     (a)   the proceeds of any sale, lese or other disposition
                           of the property described in paragraph 1 or in
                           Schedule B, any debt resulting from such sale, lease
                           or other disposition, as well as any property
                           acquired to replace the hypothecated property (if
                           being understood that this clause

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                           shall not construed so as to permit the Grantor to
                           dispose of the hypothecated property in violation of
                           the provisions hereof);

                     (b)   any insurance or expropriation indemnity payable in
                           respect of the hypothecated property;

                     (c)   any rights attached to the hypothecated property, as
                           well as the fruits and revenues produced thereby;

                     (d)   where the property described in paragraph 1 or in
                           Schedule B includes shares or securities, all shares
                           and securities issued in replacement of these shares
                           or securities;

                     (e)   all deeds, documents, registers, invoices and books
                           of account evidencing the hypothecated property or
                           relating thereto.

         II       OBLIGATIONS SECURED

                  This hypothec and security interest are granted to secure:

                     (a)   all the obligations of the Grantor to the Bank
                           arising from credit facilities granted by the Bank to
                           Regal Greetings & Gifts Corporation in the amount of
                           Fifty Million Dollars ($50,000,000) as well as from
                           any renewal or replacement of same and all increases
                           or other amendments thereto. The credit facilities
                           have been and will be availed of in the manner agreed
                           upon between the Grantor and the Bank; and

                     (b)   all obligations of the Grantor to the Bank arising
                           from one or more guarantees executed in favour of the
                           Bank, as well as from any guarantee(s), renewing,
                           amending or replacing same, whereby the Grantor has
                           guaranteed to and in favour of the Bank the payment
                           and fulfillment of all obligations and indebtedness
                           of Regal Greetings & Gifts Corporation present and
                           future, direct and indirect, up to the amount, if
                           any, specified in the guarantee(s); and

                     (c)   all other present and future, direct and indirect,
                           obligations of the Grantor to the Bank.

                  DECLARATIONS
                  The Grantor declares and warrants the following:

                     1.    The Grantor owns the hypothecated property free and
                           clear of all rights, hypothecs and security interests
                           other than those which have been disclosed by the
                           Grantor to the Bank in writing.

                     2.    The hypothecated property will be kept at the
                           locations in the Province of Quebec, specified in
                           section "A" of the attached Schedule A.

                     3.    The hypothecated property which is not situated in
                           the Province of Quebec is described in section "B" of
                           the attached Schedule A.

                     4.    The hypothecated property is not intended to be used
                           in more than one province or country, except for the
                           property described in section "C" of the attached
                           Schedule A.

                     5.    The Grantor's head office (or his/her domicile, if
                           the Grantor is an individual) is located at the
                           following address:

                           909   Boul. Pierre-Bertrand, Bureau 100, Vanier,
                           Quebec, G1M 3R9

                  IV       COVENANTS

                     1.    The Grantor will inform the Bank without delay of any
                           change to the Grantor's name or to the content of the
                           declarations made in Article III.

                     2.    The Grantor will pay when due all duties, fees, taxes
                           and charges relating to the hypothecated property, as
                           well as any debt which could rank prior to the

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                           hypothec and security interest constituted herein. On
                           request, the Grantor shall furnish to the Bank
                           evidence that the payments contemplated by this
                           paragraph have been made.

                     3.    The Grantor will insure the hypothecated property
                           with an insurer acceptable to the Bank and keep it
                           constantly insured for its full insurable value
                           against damage caused by theft, fire and all other
                           risks that a prudent administrator would insure the
                           property against. The Bank is hereby designated as
                           the beneficiary of the indemnities payable by virtue
                           of these policies and the Grantor shall cause such
                           designation to be inscribed in the policies. The
                           Grantor shall provide the Bank with a copy of each
                           policy and, at least thirty (30) days prior to the
                           expiration or cancellation of a policy, evidence of
                           its renewal or its replacement thereof.

                     4.    The Grantor shall do any act and sign all documents
                           necessary for the hypothec and security interest
                           constituted herein to have full effect and be
                           constantly set up against third parties.

                     5.    The Grantor shall protect, use and maintain the
                           hypothecated property and exercise its activities in
                           a manner to preserve its value. The Grantor shall
                           conform to the requirements of all laws and
                           regulations applicable to the carrying on of its
                           enterprise and to the holding of the hypothecated
                           property, including environmental laws and
                           regulations.

                     6.    The Grantor shall keep all books and accounts that a
                           prudent administrator would keep with respect to the
                           hypothecated property and shall permit the Bank to
                           examine and obtain copies of same.

                     7.    The Grantor shall keep the hypothecated property free
                           of all rights, hypothecs and security interests, save
                           those consented to in writing by the Bank.

                     8.    The Grantor shall not dispose of the hypothecated
                           property or lease same, unless the Bank consents
                           thereto in writing. However, the Grantor may, if
                           there is no default herein, sell or lease its
                           inventory in the ordinary course of its business.

                     9.    The Grantor shall not change the use, purpose or
                           nature of the hypothecated property or remove the
                           hypothecated property from its present location,
                           unless the Bank consents thereto in writing. If the
                           Grantor is a corporation, the Grantor shall not
                           amalgamate or merge with another entity or commence
                           winging-up proceedings, without the written consent
                           of the Bank.

                     10.   The Grantor shall furnish to the Bank all information
                           that the Bank could reasonably require with respect
                           to the hypothecated property or to verify if the
                           Grantor is conforming to its covenants and
                           obligations contained herein. The Grantor shall
                           inform the Bank of any fact or event which could
                           adversely affect the value of the hypothecated
                           property or the financial condition of the Grantor.

                     11.   The Grantor shall pay all costs related to this
                           hypothec, including the costs incurred to perfect the
                           rights of the Bank herein.

                     12.   The Grantor shall reimburse the Bank for all costs
                           and charges incurred by the latter to exercise its
                           rights or to fulfill the obligations of the Grantor,
                           with interest at the prime lending rate of the Bank
                           plus 3% per annum. This hypothec and security
                           interest created herein shall also secure repayment
                           of these costs and charges as well as payment of
                           interest.

                  V  RIGHTS OF THE BANK

                     1.    The Bank may from time to time, at the Grantor's
                           expense, inspect the hypothecated property or have it
                           appraised. The Grantor shall permit the Bank to have
                           access to the premises where the hypothecated
                           property is located, as well as to the Grantor's
                           place of business. The Grantor shall also permit the
                           Bank to examine all books of account and documents
                           relating to the hypothecated property and obtain
                           copies thereof.

                     2.    The Bank may, without being bound to do so, fulfill
                           any or all the obligations of the Grantor herein.

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                     3.    The Grantor may collect all claims, debts and rights
                           forming part of the hypothecated property as long as
                           the Bank has not withdrawn its authorization to do
                           so. The Grantor shall however remit all sums
                           collected to the Bank unless the Bank authorizes the
                           Grantor to keep such sums. If the Bank withdraws this
                           authorization, it may then collect debts, claims and
                           rights of action. It shall then be entitled to a
                           reasonable commission for this collection, which may
                           be deducted from any sum collected.

                     4.    Where the hypothecated property includes shares or
                           securities, the Bank or its nominee may, without
                           being bound to do so, have itself registered as the
                           holder of these shares and securities and exercise
                           any right attached thereto, including any right to
                           vote and any right of conversion or redemption.

                     5.    In the event that the Bank has the possession of the
                           hypothecated property, it shall have no obligation to
                           maintain the use for which the hypothecated property
                           is normally destined or to make it productive onto
                           continue its use or operation.

                     6.    The Grantor constitutes the Bank its irrevocable
                           attorney, with power of substitution, in order to do
                           any act and to sign any document necessary or useful
                           to the exercise of the rights conferred on the Bank
                           under this deed.

                     7.    The rights conferred on the Bank under this article V
                           may be exercised by the Bank before or after default
                           by the Grantor under the terms of this deed.

         VI       DEFAULTS AND RECOURSES

                     1.    The Grantor shall be in default in each and every one
                           of the following events:

                           (a) If any or all of the obligations secured under
                               this deed are not paid when due;

                           (b) If any of the declarations made in article III is
                               erroneous;

                           (c) If the Grantor does not fulfill any one of its
                               obligations herein;

                           (d) If the Grantor is in default under any other
                               contract or agreement with the Bank or any other
                               creditor, or under any other hypothec or security
                               agreement affecting the hypothecated property;

                           (e) If the Grantor ceases to carry on its business,
                               becomes insolvent or bankrupt; or

                           (f) If any or all of the hypothecated property is
                               seized or is subject to a legal procedure or a
                               taking of possession by a creditor, a receiver or
                               any other person performing similar functions.

                     2.    If the Grantor is in default, the Bank may terminate
                           any obligation it may have to grant credit or make
                           advances to the Grantor and it may also declare due
                           all obligations of the Grantor which are not yet due.
                           If the Grantor is in default, the Bank may also
                           exercise all recourses conferred on it by law and may
                           realize its hypothec and security interest, notably
                           by exercising the hypothecary rights provided in the
                           Civil Code of Quebec.

                     3.    In order to realize its hypothec and security
                           interest, the Bank may use, at the expense of the
                           Grantor, the premises where the hypothecated property
                           is situated, as well as any other property of the
                           Grantor. Where the hypothecated property includes
                           debts, claims or rights of action, the Bank may
                           compromise or transact with the debtors of these
                           debts or rights of action and may grant releases and
                           discharges thereto. Where the hypothecated property
                           includes inventory, the Bank may complete the
                           manufacture of such inventory and do all things
                           necessary or useful to its sale.

                  VII GENERAL PROVISIONS

                     1.    The prime lending rate of the Bank is a variable per
                           annum reference rate of Interest (as announced and
                           adjusted by the Bank from time to time) for Canadian
                           dollar loans made by the Bank in Canada.

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                     2.    The hypothec and security interest created herein are
                           in addition to and not in substitution for any other
                           hypothec or security held by the Bank.

                     3.    This hypothec and security interest are a continuing
                           security and shall continue to exist notwithstanding
                           the payment from time to time, in whole or in part,
                           of any of the obligations secured by this deed.

                     4.    In each of the events provided in paragraph 1 of
                           article VI, the Grantor shall be in default by the
                           mere lapse of time, without the necessity of any
                           notice or demand.

                     5.    If several persons are designated as "Grantor", each
                           such person shall be individually and collectively
                           (that is jointly and severally) liable to the Bank
                           for the fulfillment of the obligations provided in
                           this deed.

                     6.    Any sum collected by the Bank in the exercise of its
                           rights provided herein or by law may be kept by the
                           Bank, as hypothecated property, or may be applied to
                           the payment of the obligations secured by this deed,
                           whether due or not. The Bank shall have the choice of
                           how any such sum will be applied.

                     7.    The exercise by the Bank of any recourse under this
                           deed shall not preclude the Bank from exercising any
                           other recourse provided herein or by law. All the
                           recourses of the Bank are cumulative and not
                           alternative. The non-exercise by the Bank of any of
                           its recourses shall not constitute a renunciation of
                           the exercise of such recourse at a later date. The
                           Bank may exercise its recourses herein without being
                           required to exercise its recourses against the
                           Grantor or against any other person liable for the
                           payment of the obligations secured by this deed or to
                           realize any other security held for the payment of
                           the secured obligations.

                     8.    The Bank shall be bound only to exercise reasonable
                           care in the exercise of its rights and fulfillment of
                           its obligations and, in any event, it shall only be
                           liable for its intentional fault or gross negligence.

                     9.    The Bank may delegate to another person the exercise
                           of its rights or the accomplishment of its
                           obligations resulting herefrom. In such a case, the
                           Bank may provide to this person any information it
                           may have concerning the Grantor or the hypothecated
                           property.

                     10.   The rights conferred on the Bank herein shall benefit
                           any successor of the Bank, including any entity
                           resulting from the amalgamation of the Bank with any
                           other entity.

                     11.   If any provision hereof is determined to be void or
                           unenforceable in whole or in part, it shall be deemed
                           not to affect or impair any other provision hereof.

                     12.   Any notice to the Grantor may be given at the address
                           indicated below or any other address indicated in
                           writing by the Grantor to the Bank.

                     13.   This deed shall be governed and interpreted by the
                           law in force in the Province of Quebec.

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                     14.   The parties hereto have expressly agreed that this
                           deed be executed in the English language. Les parties
                           ont expressement convenu que la presente convention
                           soit redigee en anglais.

SIGNED AT TORONTO, ONTARIO
on the day, month and year firstly above written.

                                               Grantor:  PRIMES DE LUXE INC.


                                        Per:
-------------                                ------------------------------
Witness                                        Authorized Signing Officer

                                               909 Boul. Pierre-Bertrand, Bureau
                                               100, Vanier, Quebec, G1M 3R9


                                               The Bank of Nova Scotia

                                               -----------------------------
                                               Authorized Signing Officer

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SCHEDULE A TO THE HYPOTHEC ON MOVABLE PROPERTY DATED

December 14, 2001
--------------------------------------------------------------

BETWEEN THE BANK OF NOVA SCOTIA AND THE UNDERSIGNED GRANTOR

A - Description and location of hypothecated property in the Province of Quebec:

All locations and all assets of Grantor located in the Province of Quebec.

B - Description and location of the hypothecated property not situated in the
    Province of Quebec:

All locations and all assets of Grantor in Canada.

C - Description of the hypothecated property intended to be used in more than
    one province or country:

This schedule forms an integral part of the Hypothec on Movable Property.

                                               PRIMES DE LUXE INC.

                                               Per:
-----------------------------                  -----------------------------
Witness                                        Authorized Signing Officer

-----------------------------                  -----------------------------
Witness                                        Signature


                                               The Bank of Nova Scotia


                                               -----------------------------
                                               Authorized Signing Officer

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SCHEDULE B TO THE HYPOTHEC ON MOVABLE PROPERTY DATED

December 14, 2001
--------------------------------------------------------------

BETWEEN THE BANK OF NOVA SCOTIA AND THE UNDERSIGNED GRANTOR

Description of property for article 1 Hypothec, paragraph 1 (e):

All present and after acquired personal property.


This schedule forms an integral part of the Hypothec on Movable Property.

                                               PRIMES DE LUXE INC.

                                               Per:
-----------------------------------            ------------------------------
Witness                                        Authorized Signing Officer

                                               The Bank of Nova Scotia


                                               ----------------------------
                                               Authorized Signing Officer