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EXHIBIT 10.1
 WESTREC CAPITAL PARTNERS, LLC
  
   FH Company Company Group LC LCs Westrec
  Existing LCs Comerica Existing LCs
 Request to Provide Credit Enhancement
 Credit Documents




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Fees
   Warrants
 Warrant
  Market Price Daily Market Price
  - 2 -




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Date of Issuance
    
    No. Shares
    
    Exercise Price5/15/06
    
    
    20,302
    
    
    $
    1.166/22/06
    
    
    23,063
    
    
    
    0.626/22/06
    
    
    20,738
    
    
    
    0.62
  Representations of the Company
 Exchange Act SEC Documents
 Material Adverse Effect
  - 3 -




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SEC
   - 4 -




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Representations of Westrec
    Securities Act
 Transfer
 Covenants of the Company and FH.
 Subrogation and Indemnification Indemnified
Parties
 - 5 -




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Miscellaneous
 Notices
  
  
  
  Titles and Subtitles
 - 6 -




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Governing Law
 Severability
 Waiver and Amendment
 Remedies
 Attorneys Fees
 Advice from Independent Counsel
 Judicial Interpretation
 - 7 -




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Counterparts
 Further Assurances
 Joint and Several Obligations
 Very truly yours,WESTREC CAPITAL PARTNERS, LLCBy:
    
    /s/ Gregory C. McPhersonGregory C. McPhersonPresident
 
  By:
    
    /s/ John HannaJohn Hanna, Chief Executive OfficerTHE FASHION HOUSE, INC.By:
    
    /s/ John HannaJohn Hanna, Chief Executive Officer
 - 8 -




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EXHIBIT A
to
Letter Agreement dated July 25, 2006
 FORM OF OFFICERS CERTIFICATE
 
 Agreement Westrec FH Company
      Name:Title:




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EXHIBIT B
to
Letter Agreement dated July 25, 2006
 Form of Warrant
 The securities represented by this Warrant have not been registered under the Securities Act of
1933, as amended (the Act), or under the provisions of any applicable state securities laws, but
have been acquired by the registered holder hereof for purposes of investment and in reliance on
statutory exemptions under the Act, and under any applicable state securities laws. These
securities and the securities issued upon exercise hereof may not be sold, pledged, transferred or
assigned, nor may this Warrant be exercised, except in a transaction which is exempt under the
provisions of the Act and any applicable state securities laws or pursuant to an effective
registration statement.
 COMMON STOCK PURCHASE WARRANT
 Date of Issuance:
    
    
    
    Certificate No.
 Company Westrec  Common Stock  Initial Exercise Price Agreement
  Exercise of Warrant.
 Terms of Warrant; Exercise Period Expiration Date
 Exercise Procedure




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Exercise Time
   Aggregate Exercise Price Net
Exercise
      - 11 -




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Exercise Agreement Exhibit I
 Adjustment of Exercise Price and Number of Shares Exercise
Price
 Reorganization, Reclassification, Consolidation, Merger or Sale Change Event
 Subdivisions, Combinations and Other Issuances - 12 -
        Issuance of New Warrant
 Notices
   Registration Rights
 Demand Registration
  - 13 -
        Additional Warrant
 Piggyback Registration
    - 14 -




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Covenants of the Company with Respect to Registration
       - 15 -
          Indemnification and Contribution
 - 16 -
         Indemnified Party Indemnifying Party - 17 -
          Registrable Securities
 Definitions
 Act
 Effectiveness Deadline
 Exchange Act
 Fair Market Value
 - 18 -




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Filing Deadline
 Holders
 Person
 Registered Holder
 Registrable Securities
 Registration
 Registration Statement
 Rule 144
 SEC
 Warrant
 - 19 -




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Warrant Shares
 No Voting Rights; Limitations of Liability
 Warrant Transferable
 Warrant Exchangeable for Different Denominations
 Replacement
 Notices
 - 20 -




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Amendment and Waiver
 Descriptive Headings; Governing Law
   Warrant Register
 - 21 -




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Fractions of Shares
 Attorneys Fees
  THE FASHION HOUSE HOLDINGS, INC.By:Name:Title:
 - 22 -




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EXHIBIT I
 EXERCISE AGREEMENT
 To:
    
    
    
    Dated:
 
 Name
    
    
    
    Number of Warrant Shares
 
 SignatureAddress
 - 23 -




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EXHIBIT II
 ASSIGNMENT
 
 Name of Assignee
    
    Address
    
    No. of Shares
 SignatureWitness
  SignatureWitness
 - 24 -