Community Capital Bancshares, Inc./Guarantee Agreement/Floating Rate


                                      186
<PAGE>
                                                                          ------
                                                                     EXHIBIT 4.4
                                                                     -----------

                =================================================




                               GUARANTEE AGREEMENT

                                 BY AND BETWEEN

                       COMMUNITY CAPITAL BANCSHARES, INC.

                                       AND

                         U. S. BANK NATIONAL ASSOCIATION

                           DATED AS OF MARCH 26, 2003



                =================================================


                                      187
<PAGE>
                               GUARANTEE AGREEMENT
                               -------------------

     This GUARANTEE AGREEMENT (this "Guarantee"), dated as of March 26, 2003, is
executed and delivered by Community Capital Bancshares, Inc., a Georgia
corporation (the "Guarantor"), and U. S. Bank National Association, a national
banking association, organized under the laws of the United States of America,
as trustee (the "Guarantee Trustee"), for the benefit of the Holders (as defined
herein) from time to time of the Capital Securities (as defined herein) of
Community Capital Statutory Trust I, a Connecticut statutory trust (the
"Issuer").

     WHEREAS, pursuant to an Amended and Restated Declaration of Trust (the
"Declaration"), dated as of the date hereof among U. S. Bank National
Association, not in its individual capacity but solely as institutional trustee,
the administrators of the Issuer named therein, the Guarantor, as sponsor, and
the holders from time to time of undivided beneficial interests in the assets of
the Issuer, the Issuer is issuing on the date hereof those undivided beneficial
interests, having an aggregate liquidation amount of $4,000,000.00 (the "Capital
Securities"); and

     WHEREAS, as incentive for the Holders to purchase the Capital Securities,
the Guarantor desires irrevocably and unconditionally to agree, to the extent
set forth in this Guarantee, to pay to the Holders of Capital Securities the
Guarantee Payments (as defined herein) and to make certain other payments on the
terms and conditions set forth herein;

     NOW, THEREFORE, in consideration of the purchase by each Holder of the
Capital Securities, which purchase the Guarantor hereby agrees shall benefit the
Guarantor, the Guarantor executes and delivers this Guarantee for the benefit of
the Holders.


                         DEFINITIONS AND INTERPRETATION

     Definitions  and  Interpretation.     In this Guarantee, unless the context
otherwise  requires:

     CAPITALIZED  TERMS  USED  IN THIS GUARANTEE BUT NOT DEFINED IN THE PREAMBLE
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ABOVE  HAVE  THE  RESPECTIVE  MEANINGS  ASSIGNED  TO  THEM  IN THIS SECTION 1.1;
--------------------------------------------------------------------------------

     A  TERM DEFINED ANYWHERE IN THIS GUARANTEE HAS THE SAME MEANING THROUGHOUT;
     ---------------------------------------------------------------------------
     ALL REFERENCES TO "THE GUARANTEE" OR "THIS GUARANTEE" ARE TO THIS GUARANTEE
--------------------------------------------------------------------------------
AS  MODIFIED,  SUPPLEMENTED  OR  AMENDED  FROM  TIME  TO  TIME;
--------------------------------------------------------------------------------

     ALL  REFERENCES  IN  THIS  GUARANTEE  TO  "ARTICLES"  OR  "SECTIONS" ARE TO
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ARTICLES  OR  SECTIONS  OF  THIS  GUARANTEE,  UNLESS  OTHERWISE  SPECIFIED;
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     TERMS  DEFINED  IN  THE  DECLARATION  AS  AT  THE DATE OF EXECUTION OF THIS
     ---------------------------------------------------------------------------
GUARANTEE  HAVE  THE SAME MEANINGS WHEN USED IN THIS GUARANTEE, UNLESS OTHERWISE
--------------------------------------------------------------------------------
DEFINED  IN  THIS  GUARANTEE  OR  UNLESS  THE  CONTEXT  OTHERWISE  REQUIRES; AND
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                                      188
<PAGE>
     A  REFERENCE  TO  THE  SINGULAR  INCLUDES  THE  PLURAL  AND  VICE  VERSA.
     -------------------------------------------------------------------------

     "Affiliate"  has  the same meaning as given to that term in Rule 405 of the
      ---------
Securities  Act  of  1933,  as  amended,  or  any  successor  rule  thereunder.

     "Beneficiaries" means any Person to whom the Issuer is or hereafter becomes
      -------------
indebted  or  liable.

     "Capital  Securities"  has  the  meaning  set forth in the recitals to this
      -------------------
Guarantee.

     "Common Securities" means the common securities issued by the Issuer to the
      -----------------
Guarantor  pursuant  to  the  Declaration.


     "Corporate Trust Office" means the office of the Guarantee Trustee at which
      ----------------------
the  corporate  trust business of the Guarantee Trustee shall, at any particular
time, be principally administered, which office at the date of execution of this
Guarantee is located at 225 Asylum Street, Goodwin Square, Hartford, Connecticut
06103.

     "Covered  Person"  means  any  Holder  of  Capital  Securities.
      ---------------

     "Debentures"  means  the  debt  securities  of the Guarantor designated the
      ----------
Floating  Rate  Junior Subordinated Deferrable Interest Debentures due 2033 held
by  the  Institutional  Trustee  (as  defined in the Declaration) of the Issuer.

     "Declaration  Event  of  Default" means an "Event of Default" as defined in
      -------------------------------
the  Declaration.

     "Event  of  Default"  has  the  meaning  set  forth  in  Section  2.4(a).
      ------------------

     "Guarantee Payments" means the following payments or distributions, without
      ------------------
duplication,  with  respect to the Capital Securities, to the extent not paid or
made by the Issuer:  (i) any accrued and unpaid Distributions (as defined in the
Declaration)  which  are  required  to be paid on such Capital Securities to the
extent the Issuer shall have funds available therefor, (ii) the Redemption Price
to  the  extent  the  Issuer  has  funds available therefor, with respect to any
Capital  Securities  called  for  redemption  by  the  Issuer, (iii) the Special
Redemption  Price  to  the  extent the Issuer has funds available therefor, with
respect  to  Capital Securities redeemed upon the occurrence of a Special Event,
and (iv) upon a voluntary or involuntary liquidation, dissolution, winding-up or
termination  of  the  Issuer  (other than in connection with the distribution of
Debentures  to  the  Holders  of  the Capital Securities in exchange therefor as
provided in the Declaration), the lesser of (a) the aggregate of the liquidation
amount and all accrued and unpaid Distributions on the Capital Securities to the
date  of  payment, to the extent the Issuer shall have funds available therefor,
and  (b) the amount of assets of the Issuer remaining available for distribution
to  Holders  in  liquidation  of  the  Issuer  (in either case, the "Liquidation
Distribution").

     "Guarantee  Trustee"  means  U.  S.  Bank  National  Association,  until  a
      ------------------
Successor Guarantee Trustee has been appointed and has accepted such appointment
pursuant to the terms of this Guarantee and thereafter means each such Successor
Guarantee  Trustee.

     "Guarantor"  means  Community  Capital  Bancshares,  Inc.  and  each of its
      ---------
successors  and  assigns.


                                      189
<PAGE>
     "Holder"  means  any  holder, as registered on the books and records of the
      ------
Issuer,  of  any  Capital  Securities;  provided,  however, that, in determining
                                        --------   -------
whether the Holders of the requisite percentage of Capital Securities have given
any request, notice, consent or waiver hereunder, "Holder" shall not include the
Guarantor  or  any  Affiliate  of  the  Guarantor.

     "Indemnified  Person"  means  the  Guarantee  Trustee, any Affiliate of the
      -------------------
Guarantee  Trustee, or any officers, directors, shareholders, members, partners,
employees,  representatives,  nominees,  custodians  or  agents of the Guarantee
Trustee.

     "Indenture"  means  the  Indenture  dated as of the date hereof between the
      ---------
Guarantor  and  U.  S. Bank National Association, not in its individual capacity
but  solely as trustee, and any indenture supplemental thereto pursuant to which
the  Debentures  are  to  be  issued to the institutional trustee of the Issuer.

     "Issuer"  has  the  meaning  set  forth  in  the  opening paragraph to this
      ------
Guarantee.

     "Liquidation  Distribution"  has the meaning set forth in the definition of
      -------------------------
"Guarantee  Payments"  herein.

     "Majority  in liquidation amount of the Capital Securities" means Holder(s)
      ---------------------------------------------------------
of  outstanding  Capital  Securities, voting together as a class, but separately
from  the  holders  of  Common  Securities,  of  more  than 50% of the aggregate
liquidation  amount  (including  the  stated  amount  that  would  be  paid  on
redemption,  liquidation  or otherwise, plus accrued and unpaid Distributions to
the  date  upon  which  the  voting  percentages  are determined) of all Capital
Securities  then  outstanding.

     "Obligations"  means  any costs, expenses or liabilities (but not including
      -----------
liabilities related to taxes) of the Issuer other than obligations of the Issuer
to  pay to holders of any Trust Securities the amounts due such holders pursuant
to  the  terms  of  the  Trust  Securities.

     "Officer's  Certificate"  means,  with respect to any Person, a certificate
      ----------------------
signed  by  one  Authorized  Officer  of  such Person. Any Officer's Certificate
delivered  with  respect to compliance with a condition or covenant provided for
in  this  Guarantee  shall  include:

          (a)     a statement that the officer signing the Officer's Certificate
     has  read  the  covenant or condition and the definitions relating thereto;

          (b)     a  brief  statement of the nature and scope of the examination
     or  investigation  undertaken  by  the  officer  in rendering the Officer's
     Certificate;

          (c)     a  statement  that  the  officer  has  made  such  examination
     or investigation as, in such officer's opinion, is necessary to enable such
     officer  to  express an informed opinion as to whether or not such covenant
     or  condition  has  been  complied  with;  and

          (d)     a  statement  as  to whether, in the opinion of the officer,
     such  condition  or  covenant  has  been  complied  with.

     "Person"  means  a  legal  person,  including  any individual, corporation,
      ------
estate,  partnership,  joint  venture, association, joint stock company, limited
liability  company,  trust,  unincorporated  association,  or  government or any
agency  or political subdivision thereof, or any other entity of whatever nature


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<PAGE>
     "Redemption  Price"  has  the  meaning  set  forth  in  the  Indenture.
      -----------------

     "Responsible  Officer"  means,  with  respect to the Guarantee Trustee, any
      --------------------
officer within the Corporate Trust Office of the Guarantee Trustee including any
Vice  President, Assistant Vice President, Secretary, Assistant Secretary or any
other  officer of the Guarantee Trustee customarily performing functions similar
to  those  performed  by  any  of  the  above designated officers and also, with
respect  to  a particular corporate trust matter, any other officer to whom such
matter  is  referred because of that officer's knowledge of and familiarity with
the  particular  subject.

     "Special  Event"  has  the  meaning  set  forth  in  the  Indenture.
      --------------

     "Special  Redemption  Price"  has  the  meaning set forth in the Indenture.
      --------------------------

     "Successor  Guarantee  Trustee"  means  a  successor  Guarantee  Trustee
      -----------------------------
possessing  the  qualifications  to  act as Guarantee Trustee under Section 3.1.

     "Trust  Securities" means the Common Securities and the Capital Securities.
      -----------------


                          POWERS, DUTIES AND RIGHTS OF
                                GUARANTEE TRUSTEE

     POWERS  AND  DUTIES  OF  THE  GUARANTEE  TRUSTEE.

    THIS GUARANTEE SHALL BE HELD BY THE GUARANTEE TRUSTEE FOR THE BENEFIT OF THE
    ----------------------------------------------------------------------------
HOLDERS  OF THE CAPITAL SECURITIES, AND THE GUARANTEE TRUSTEE SHALL NOT TRANSFER
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THIS  GUARANTEE  TO  ANY PERSON EXCEPT A HOLDER OF CAPITAL SECURITIES EXERCISING
--------------------------------------------------------------------------------
HIS OR HER RIGHTS PURSUANT TO SECTION 4.4(B) OR TO A SUCCESSOR GUARANTEE TRUSTEE
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ON  ACCEPTANCE  BY SUCH SUCCESSOR GUARANTEE TRUSTEE OF ITS APPOINTMENT TO ACT AS
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SUCCESSOR  GUARANTEE  TRUSTEE.  THE  RIGHT,  TITLE AND INTEREST OF THE GUARANTEE
--------------------------------------------------------------------------------
TRUSTEE  SHALL  AUTOMATICALLY  VEST IN ANY SUCCESSOR GUARANTEE TRUSTEE, AND SUCH
--------------------------------------------------------------------------------
VESTING  AND  CESSATION  OF TITLE SHALL BE EFFECTIVE WHETHER OR NOT CONVEYANCING
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DOCUMENTS  HAVE  BEEN EXECUTED AND DELIVERED PURSUANT TO THE APPOINTMENT OF SUCH
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SUCCESSOR  GUARANTEE  TRUSTEE.
-----------------------------

     IF  AN  EVENT  OF  DEFAULT  ACTUALLY  KNOWN TO A RESPONSIBLE OFFICER OF THE
     ---------------------------------------------------------------------------
GUARANTEE  TRUSTEE  HAS  OCCURRED AND IS CONTINUING, THE GUARANTEE TRUSTEE SHALL
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ENFORCE THIS GUARANTEE FOR THE BENEFIT OF THE HOLDERS OF THE CAPITAL SECURITIES.
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     THE  GUARANTEE  TRUSTEE,  BEFORE THE OCCURRENCE OF ANY EVENT OF DEFAULT AND
     ---------------------------------------------------------------------------
AFTER  CURING  ALL  EVENTS OF DEFAULT THAT MAY HAVE OCCURRED, SHALL UNDERTAKE TO
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PERFORM ONLY SUCH DUTIES AS ARE SPECIFICALLY SET FORTH IN THIS GUARANTEE, AND NO
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IMPLIED  COVENANTS  SHALL  BE  READ  INTO  THIS  GUARANTEE AGAINST THE GUARANTEE
--------------------------------------------------------------------------------
TRUSTEE.  IN  CASE  AN  EVENT  OF DEFAULT HAS OCCURRED (THAT HAS NOT BEEN WAIVED
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PURSUANT  TO  SECTION 2.4) AND IS ACTUALLY KNOWN TO A RESPONSIBLE OFFICER OF THE
--------------------------------------------------------------------------------
GUARANTEE  TRUSTEE,  THE GUARANTEE TRUSTEE SHALL EXERCISE SUCH OF THE RIGHTS AND
--------------------------------------------------------------------------------
POWERS VESTED IN IT BY THIS GUARANTEE, AND USE THE SAME DEGREE OF CARE AND SKILL
--------------------------------------------------------------------------------
IN  ITS  EXERCISE  THEREOF,  AS A PRUDENT PERSON WOULD EXERCISE OR USE UNDER THE
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CIRCUMSTANCES  IN  THE  CONDUCT  OF  HIS  OR  HER  OWN  AFFAIRS.
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<PAGE>
     NO  PROVISION OF THIS GUARANTEE SHALL BE CONSTRUED TO RELIEVE THE GUARANTEE
     ---------------------------------------------------------------------------
TRUSTEE  FROM  LIABILITY FOR ITS OWN NEGLIGENT ACTION, ITS OWN NEGLIGENT FAILURE
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TO  ACT,  OR  ITS  OWN  WILLFUL  MISCONDUCT,  EXCEPT  THAT:
-----------------------------------------------------------

          PRIOR  TO  THE OCCURRENCE OF ANY EVENT OF DEFAULT AND AFTER THE CURING
     OR  WAIVING  OF  ALL  SUCH  EVENTS  OF  DEFAULT  THAT  MAY  HAVE  OCCURRED:

               the  duties  and  obligations  of  the Guarantee Trustee shall be
          determined solely by the express provisions of this Guarantee, and the
          Guarantee  Trustee  shall  not be liable except for the performance of
          such  duties  and  obligations  as  are specifically set forth in this
          Guarantee,  and no implied covenants or obligations shall be read into
          this  Guarantee  against  the  Guarantee  Trustee;  and

               in the absence of bad faith on the part of the Guarantee Trustee,
          the  Guarantee  Trustee  may conclusively rely, as to the truth of the
          statements and the correctness of the opinions expressed therein, upon
          any  certificates  or  opinions furnished to the Guarantee Trustee and
          conforming  to  the requirements of this Guarantee; but in the case of
          any  such  certificates  or  opinions that by any provision hereof are
          specifically  required  to  be furnished to the Guarantee Trustee, the
          Guarantee  Trustee  shall  be  under  a  duty  to  examine the same to
          determine  whether  or  not  they  conform to the requirements of this
          Guarantee;

          THE  GUARANTEE  TRUSTEE  SHALL NOT BE LIABLE FOR ANY ERROR OF JUDGMENT
     MADE  IN  GOOD  FAITH  BY  A  RESPONSIBLE OFFICER OF THE GUARANTEE TRUSTEE,
     UNLESS  IT  SHALL  BE PROVED THAT SUCH RESPONSIBLE OFFICER OF THE GUARANTEE
     TRUSTEE  OR  THE  GUARANTEE  TRUSTEE  WAS  NEGLIGENT  IN  ASCERTAINING  THE
     PERTINENT  FACTS  UPON  WHICH  SUCH  JUDGMENT  WAS  MADE;

          THE  GUARANTEE  TRUSTEE SHALL NOT BE LIABLE WITH RESPECT TO ANY ACTION
     TAKEN  OR  OMITTED  TO  BE TAKEN BY IT IN GOOD FAITH IN ACCORDANCE WITH THE
     WRITTEN DIRECTION OF THE HOLDERS OF NOT LESS THAN A MAJORITY IN LIQUIDATION
     AMOUNT  OF THE CAPITAL SECURITIES RELATING TO THE TIME, METHOD AND PLACE OF
     CONDUCTING  ANY  PROCEEDING  FOR  ANY  REMEDY  AVAILABLE  TO  THE GUARANTEE
     TRUSTEE,  OR  RELATING TO THE EXERCISE OF ANY TRUST OR POWER CONFERRED UPON
     THE  GUARANTEE  TRUSTEE  UNDER  THIS  GUARANTEE;  AND

          NO  PROVISION OF THIS GUARANTEE SHALL REQUIRE THE GUARANTEE TRUSTEE TO
     EXPEND  OR  RISK  ITS  OWN  FUNDS  OR  OTHERWISE  INCUR  PERSONAL FINANCIAL
     LIABILITY IN THE PERFORMANCE OF ANY OF ITS DUTIES OR IN THE EXERCISE OF ANY
     OF  ITS  RIGHTS  OR  POWERS, IF THE GUARANTEE TRUSTEE SHALL HAVE REASONABLE
     GROUNDS  FOR  BELIEVING  THAT THE REPAYMENT OF SUCH FUNDS IS NOT REASONABLY
     ASSURED  TO IT UNDER THE TERMS OF THIS GUARANTEE OR SECURITY AND INDEMNITY,
     REASONABLY  SATISFACTORY  TO  THE  GUARANTEE  TRUSTEE, AGAINST SUCH RISK OR
     LIABILITY  IS  NOT  REASONABLY  ASSURED  TO  IT.

    CERTAIN  RIGHTS  OF  GUARANTEE  TRUSTEE.

     SUBJECT  TO  THE  PROVISIONS  OF  SECTION  2.1:
     -----------------------------------------------

          THE  GUARANTEE  TRUSTEE  MAY  CONCLUSIVELY  RELY,  AND  SHALL BE FULLY
     PROTECTED  IN  ACTING  OR  REFRAINING  FROM  ACTING  UPON,  ANY RESOLUTION,
     CERTIFICATE,  STATEMENT,  INSTRUMENT,  OPINION,  REPORT,  NOTICE,  REQUEST,
     DIRECTION,  CONSENT,  ORDER,  BOND,  DEBENTURE,  NOTE,  OTHER  EVIDENCE  OF

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<PAGE>
     INDEBTEDNESS OR OTHER PAPER OR DOCUMENT BELIEVED BY IT TO BE GENUINE AND TO
     HAVE  BEEN  SIGNED,  SENT  OR  PRESENTED  BY  THE  PROPER PARTY OR PARTIES.

          ANY  DIRECTION  OR ACT OF THE GUARANTOR CONTEMPLATED BY THIS GUARANTEE
     SHALL  BE  SUFFICIENTLY  EVIDENCED  BY  AN  OFFICER'S  CERTIFICATE.

          WHENEVER,  IN  THE  ADMINISTRATION  OF  THIS  GUARANTEE, THE GUARANTEE
     TRUSTEE  SHALL  DEEM  IT  DESIRABLE  THAT A MATTER BE PROVED OR ESTABLISHED
     BEFORE  TAKING,  SUFFERING  OR OMITTING ANY ACTION HEREUNDER, THE GUARANTEE
     TRUSTEE  (UNLESS  OTHER EVIDENCE IS HEREIN SPECIFICALLY PRESCRIBED) MAY, IN
     THE ABSENCE OF BAD FAITH ON ITS PART, REQUEST AND CONCLUSIVELY RELY UPON AN
     OFFICER'S CERTIFICATE OF THE GUARANTOR WHICH, UPON RECEIPT OF SUCH REQUEST,
     SHALL  BE  PROMPTLY  DELIVERED  BY  THE  GUARANTOR.

          THE  GUARANTEE  TRUSTEE  SHALL  HAVE  NO DUTY TO SEE TO ANY RECORDING,
     FILING  OR REGISTRATION OF ANY INSTRUMENT (OR ANY RE-RECORDING, REFILING OR
     RE-REGISTRATION  THEREOF).

          THE  GUARANTEE  TRUSTEE MAY CONSULT WITH COUNSEL OF ITS SELECTION, AND
     THE  ADVICE  OR OPINION OF SUCH COUNSEL WITH RESPECT TO LEGAL MATTERS SHALL
     BE  FULL AND COMPLETE AUTHORIZATION AND PROTECTION IN RESPECT OF ANY ACTION
     TAKEN,  SUFFERED OR OMITTED BY IT HEREUNDER IN GOOD FAITH AND IN ACCORDANCE
     WITH  SUCH  ADVICE OR OPINION. SUCH COUNSEL MAY BE COUNSEL TO THE GUARANTOR
     OR  ANY  OF  ITS  AFFILIATES  AND  MAY  INCLUDE  ANY  OF ITS EMPLOYEES. THE
     GUARANTEE  TRUSTEE  SHALL  HAVE  THE RIGHT AT ANY TIME TO SEEK INSTRUCTIONS
     CONCERNING THE ADMINISTRATION OF THIS GUARANTEE FROM ANY COURT OF COMPETENT
     JURISDICTION.

          THE  GUARANTEE TRUSTEE SHALL BE UNDER NO OBLIGATION TO EXERCISE ANY OF
     THE  RIGHTS  OR  POWERS  VESTED  IN  IT BY THIS GUARANTEE AT THE REQUEST OR
     DIRECTION  OF  ANY  HOLDER,  UNLESS  SUCH HOLDER SHALL HAVE PROVIDED TO THE
     GUARANTEE  TRUSTEE  SUCH SECURITY AND INDEMNITY, REASONABLY SATISFACTORY TO
     THE  GUARANTEE  TRUSTEE,  AGAINST THE COSTS, EXPENSES (INCLUDING ATTORNEYS'
     FEES  AND  EXPENSES  AND  THE  EXPENSES  OF THE GUARANTEE TRUSTEE'S AGENTS,
     NOMINEES  OR  CUSTODIANS)  AND  LIABILITIES THAT MIGHT BE INCURRED BY IT IN
     COMPLYING  WITH  SUCH  REQUEST  OR  DIRECTION,  INCLUDING  SUCH  REASONABLE
     ADVANCES  AS  MAY BE REQUESTED BY THE GUARANTEE TRUSTEE; PROVIDED, HOWEVER,
                                                              --------  -------
     THAT  NOTHING  CONTAINED  IN  THIS  SECTION  2.2(A)(VI)  SHALL  RELIEVE THE
     GUARANTEE  TRUSTEE,  UPON  THE  OCCURRENCE  OF  AN EVENT OF DEFAULT, OF ITS
     OBLIGATION  TO  EXERCISE  THE  RIGHTS  AND  POWERS  VESTED  IN  IT  BY THIS
     GUARANTEE.

          THE  GUARANTEE  TRUSTEE  SHALL  NOT BE BOUND TO MAKE ANY INVESTIGATION
     INTO THE FACTS OR MATTERS STATED IN ANY RESOLUTION, CERTIFICATE, STATEMENT,
     INSTRUMENT,  OPINION,  REPORT,  NOTICE, REQUEST, DIRECTION, CONSENT, ORDER,
     BOND,  DEBENTURE,  NOTE,  OTHER  EVIDENCE OF INDEBTEDNESS OR OTHER PAPER OR
     DOCUMENT,  BUT  THE  GUARANTEE  TRUSTEE,  IN  ITS DISCRETION, MAY MAKE SUCH
     FURTHER  INQUIRY  OR INVESTIGATION INTO SUCH FACTS OR MATTERS AS IT MAY SEE
     FIT.

          THE  GUARANTEE  TRUSTEE  MAY  EXECUTE  ANY  OF  THE  TRUSTS  OR POWERS
     HEREUNDER  OR PERFORM ANY DUTIES HEREUNDER EITHER DIRECTLY OR BY OR THROUGH
     AGENTS,  NOMINEES, CUSTODIANS OR ATTORNEYS, AND THE GUARANTEE TRUSTEE SHALL
     NOT  BE  RESPONSIBLE  FOR  ANY  MISCONDUCT OR NEGLIGENCE ON THE PART OF ANY
     AGENT  OR  ATTORNEY  APPOINTED  WITH  DUE  CARE  BY  IT  HEREUNDER.

          ANY  ACTION  TAKEN  BY  THE  GUARANTEE TRUSTEE OR ITS AGENTS HEREUNDER
     SHALL  BIND THE HOLDERS OF THE CAPITAL SECURITIES, AND THE SIGNATURE OF THE
     GUARANTEE  TRUSTEE OR ITS AGENTS ALONE SHALL BE SUFFICIENT AND EFFECTIVE TO
     PERFORM  ANY SUCH ACTION. NO THIRD PARTY SHALL BE REQUIRED TO INQUIRE AS TO
     THE  AUTHORITY  OF  THE  GUARANTEE  TRUSTEE  TO  SO  ACT  OR  AS  TO  ITS


                                      193
<PAGE>
     COMPLIANCE  WITH ANY OF THE TERMS AND PROVISIONS OF THIS GUARANTEE, BOTH OF
     WHICH  SHALL  BE  CONCLUSIVELY  EVIDENCED BY THE GUARANTEE TRUSTEE'S OR ITS
     AGENT'S  TAKING  SUCH  ACTION.

          WHENEVER IN THE ADMINISTRATION OF THIS GUARANTEE THE GUARANTEE TRUSTEE
     SHALL  DEEM  IT DESIRABLE TO RECEIVE INSTRUCTIONS WITH RESPECT TO ENFORCING
     ANY  REMEDY  OR  RIGHT  OR TAKING ANY OTHER ACTION HEREUNDER, THE GUARANTEE
     TRUSTEE  (I)  MAY  REQUEST  INSTRUCTIONS  FROM THE HOLDERS OF A MAJORITY IN
     LIQUIDATION  AMOUNT  OF  THE  CAPITAL  SECURITIES,  (II)  MAY  REFRAIN FROM
     ENFORCING  SUCH  REMEDY  OR  RIGHT  OR  TAKING SUCH OTHER ACTION UNTIL SUCH
     INSTRUCTIONS  ARE  RECEIVED,  AND  (III) SHALL BE PROTECTED IN CONCLUSIVELY
     RELYING  ON  OR  ACTING  IN  ACCORDANCE  WITH  SUCH  INSTRUCTIONS.

          THE  GUARANTEE  TRUSTEE  SHALL  NOT  BE  LIABLE  FOR ANY ACTION TAKEN,
     SUFFERED,  OR  OMITTED TO BE TAKEN BY IT IN GOOD FAITH, WITHOUT NEGLIGENCE,
     AND  REASONABLY BELIEVED BY IT TO BE AUTHORIZED OR WITHIN THE DISCRETION OR
     RIGHTS  OR  POWERS  CONFERRED  UPON  IT  BY  THIS  GUARANTEE.

     NO  PROVISION  OF  THIS  GUARANTEE  SHALL  BE  DEEMED TO IMPOSE ANY DUTY OR
     ---------------------------------------------------------------------------
OBLIGATION  ON  THE GUARANTEE TRUSTEE TO PERFORM ANY ACT OR ACTS OR EXERCISE ANY
--------------------------------------------------------------------------------
RIGHT, POWER, DUTY OR OBLIGATION CONFERRED OR IMPOSED ON IT, IN ANY JURISDICTION
--------------------------------------------------------------------------------
IN  WHICH  IT  SHALL  BE  ILLEGAL  OR  IN  WHICH  THE GUARANTEE TRUSTEE SHALL BE
--------------------------------------------------------------------------------
UNQUALIFIED OR INCOMPETENT IN ACCORDANCE WITH APPLICABLE LAW TO PERFORM ANY SUCH
--------------------------------------------------------------------------------
ACT  OR  ACTS  OR  TO  EXERCISE  ANY  SUCH RIGHT, POWER, DUTY OR OBLIGATION.  NO
--------------------------------------------------------------------------------
PERMISSIVE  POWER  OR  AUTHORITY  AVAILABLE  TO  THE  GUARANTEE TRUSTEE SHALL BE
--------------------------------------------------------------------------------
CONSTRUED  TO  BE  A  DUTY.
--------------------------

     NOT  RESPONSIBLE  FOR  RECITALS  OR ISSUANCE OF GUARANTEE.     The recitals
contained  in  this Guarantee shall be taken as the statements of the Guarantor,
and  the  Guarantee  Trustee  does  not  assume  any  responsibility  for  their
correctness.  The  Guarantee  Trustee makes no representation as to the validity
or  sufficiency  of  this  Guarantee.

     EVENTS  OF  DEFAULT;  WAIVER.

     AN EVENT OF DEFAULT UNDER THIS GUARANTEE WILL OCCUR UPON THE FAILURE OF THE
     ---------------------------------------------------------------------------
GUARANTOR  TO  PERFORM  ANY  OF  ITS  PAYMENT  OR  OTHER  OBLIGATIONS HEREUNDER.
--------------------------------------------------------------------------------

     THE  HOLDERS  OF A MAJORITY IN LIQUIDATION AMOUNT OF THE CAPITAL SECURITIES
     ---------------------------------------------------------------------------
MAY,  VOTING  OR  CONSENTING  AS A CLASS, ON BEHALF OF THE HOLDERS OF ALL OF THE
--------------------------------------------------------------------------------
CAPITAL  SECURITIES, WAIVE ANY PAST EVENT OF DEFAULT AND ITS CONSEQUENCES.  UPON
--------------------------------------------------------------------------------
SUCH WAIVER, ANY SUCH EVENT OF DEFAULT SHALL CEASE TO EXIST, AND SHALL BE DEEMED
--------------------------------------------------------------------------------
TO  HAVE  BEEN  CURED,  FOR  EVERY PURPOSE OF THIS GUARANTEE, BUT NO SUCH WAIVER
--------------------------------------------------------------------------------
SHALL  EXTEND  TO  ANY SUBSEQUENT OR OTHER DEFAULT OR EVENT OF DEFAULT OR IMPAIR
--------------------------------------------------------------------------------
ANY  RIGHT  CONSEQUENT  THEREON.
--------------------------------

    EVENTS  OF  DEFAULT;  NOTICE.

     THE  GUARANTEE  TRUSTEE  SHALL,  WITHIN  90 DAYS AFTER THE OCCURRENCE OF AN
     ---------------------------------------------------------------------------
EVENT  OF DEFAULT, TRANSMIT BY MAIL, FIRST CLASS POSTAGE PREPAID, TO THE HOLDERS
--------------------------------------------------------------------------------
OF  THE  CAPITAL  SECURITIES AND THE GUARANTOR, NOTICES OF ALL EVENTS OF DEFAULT
--------------------------------------------------------------------------------
ACTUALLY  KNOWN  TO  A RESPONSIBLE OFFICER OF THE GUARANTEE TRUSTEE, UNLESS SUCH
--------------------------------------------------------------------------------
DEFAULTS  HAVE  BEEN  CURED BEFORE THE GIVING OF SUCH NOTICE, PROVIDED, HOWEVER,
--------------------------------------------------------------------------------
THAT  THE GUARANTEE TRUSTEE SHALL BE PROTECTED IN WITHHOLDING SUCH NOTICE IF AND
--------------------------------------------------------------------------------
SO  LONG  AS  A  RESPONSIBLE  OFFICER  OF  THE  GUARANTEE  TRUSTEE IN GOOD FAITH
--------------------------------------------------------------------------------
DETERMINES  THAT  THE  WITHHOLDING  OF  SUCH  NOTICE  IS IN THE INTERESTS OF THE
--------------------------------------------------------------------------------
HOLDERS  OF  THE  CAPITAL  SECURITIES.
--------------------------------------

     THE GUARANTEE TRUSTEE SHALL NOT BE DEEMED TO HAVE KNOWLEDGE OF ANY EVENT OF
     ---------------------------------------------------------------------------
DEFAULT UNLESS THE GUARANTEE TRUSTEE SHALL HAVE RECEIVED WRITTEN NOTICE FROM THE
--------------------------------------------------------------------------------
GUARANTOR  OR  A  HOLDER  OF  THE  CAPITAL
------------------------------------------


                                      194
<PAGE>
------
SECURITIES  (EXCEPT  IN THE CASE OF A PAYMENT DEFAULT), OR A RESPONSIBLE OFFICER
--------------------------------------------------------------------------------
OF THE GUARANTEE TRUSTEE CHARGED WITH THE ADMINISTRATION OF THIS GUARANTEE SHALL
--------------------------------------------------------------------------------
HAVE  OBTAINED  ACTUAL  KNOWLEDGE  THEREOF.
-------------------------------------------


                                GUARANTEE TRUSTEE

     GUARANTEE  TRUSTEE;  ELIGIBILITY.

     THERE  SHALL  AT  ALL  TIMES  BE  A  GUARANTEE  TRUSTEE  WHICH  SHALL:
     ----------------------------------------------------------------------

          NOT  BE  AN  AFFILIATE  OF  THE  GUARANTOR,  AND

          BE  A  CORPORATION  ORGANIZED AND DOING BUSINESS UNDER THE LAWS OF THE
     UNITED  STATES  OF  AMERICA  OR  ANY  STATE  OR TERRITORY THEREOF OR OF THE
     DISTRICT  OF  COLUMBIA,  OR  PERSON  AUTHORIZED UNDER SUCH LAWS TO EXERCISE
     CORPORATE  TRUST  POWERS, HAVING A COMBINED CAPITAL AND SURPLUS OF AT LEAST
     50  MILLION  U.S.  DOLLARS  ($50,000,000),  AND  SUBJECT  TO SUPERVISION OR
     EXAMINATION  BY  FEDERAL,  STATE,  TERRITORIAL  OR  DISTRICT  OF  COLUMBIA
     AUTHORITY.  IF  SUCH  CORPORATION  PUBLISHES  REPORTS OF CONDITION AT LEAST
     ANNUALLY,  PURSUANT  TO  LAW  OR  TO THE REQUIREMENTS OF THE SUPERVISING OR
     EXAMINING  AUTHORITY  REFERRED  TO  ABOVE,  THEN,  FOR THE PURPOSES OF THIS
     SECTION  3.1(A)(II),  THE  COMBINED CAPITAL AND SURPLUS OF SUCH CORPORATION
     SHALL  BE DEEMED TO BE ITS COMBINED CAPITAL AND SURPLUS AS SET FORTH IN ITS
     MOST  RECENT  REPORT  OF  CONDITION  SO  PUBLISHED.

     IF  AT  ANY TIME THE GUARANTEE TRUSTEE SHALL CEASE TO BE ELIGIBLE TO SO ACT
     ---------------------------------------------------------------------------
UNDER  SECTION  3.1(A),  THE  GUARANTEE  TRUSTEE SHALL IMMEDIATELY RESIGN IN THE
--------------------------------------------------------------------------------
MANNER  AND  WITH  THE  EFFECT  SET  OUT  IN  SECTION  3.2(C).
--------------------------------------------------------------

     IF  THE  GUARANTEE  TRUSTEE HAS OR SHALL ACQUIRE ANY "CONFLICTING INTEREST"
     ---------------------------------------------------------------------------
WITHIN  THE  MEANING OF SECTION 310(B) OF THE TRUST INDENTURE ACT, THE GUARANTEE
--------------------------------------------------------------------------------
TRUSTEE  SHALL EITHER ELIMINATE SUCH INTEREST OR RESIGN TO THE EXTENT AND IN THE
--------------------------------------------------------------------------------
MANNER  PROVIDED  BY,  AND  SUBJECT  TO  THIS  GUARANTEE.
---------------------------------------------------------

     APPOINTMENT,  REMOVAL  AND  RESIGNATION  OF  GUARANTEE  TRUSTEE.

     SUBJECT  TO  SECTION  3.2(B),  THE  GUARANTEE  TRUSTEE  MAY BE APPOINTED OR
--------------------------------------------------------------------------------
REMOVED  WITHOUT  CAUSE  AT  ANY TIME BY THE GUARANTOR EXCEPT DURING AN EVENT OF
--------------------------------------------------------------------------------
DEFAULT.
--------

     THE  GUARANTEE  TRUSTEE  SHALL  NOT  BE  REMOVED IN ACCORDANCE WITH SECTION
     ---------------------------------------------------------------------------
3.2(A)  UNTIL  A SUCCESSOR GUARANTEE TRUSTEE HAS BEEN APPOINTED AND HAS ACCEPTED
--------------------------------------------------------------------------------
SUCH  APPOINTMENT  BY  WRITTEN  INSTRUMENT  EXECUTED BY SUCH SUCCESSOR GUARANTEE
--------------------------------------------------------------------------------
TRUSTEE  AND  DELIVERED  TO  THE  GUARANTOR.
--------------------------------------------

     THE  GUARANTEE  TRUSTEE  APPOINTED  TO  OFFICE  SHALL  HOLD  OFFICE UNTIL A
     ---------------------------------------------------------------------------
SUCCESSOR  GUARANTEE  TRUSTEE  SHALL HAVE BEEN APPOINTED OR UNTIL ITS REMOVAL OR
--------------------------------------------------------------------------------
RESIGNATION.  THE  GUARANTEE  TRUSTEE  MAY  RESIGN FROM OFFICE (WITHOUT NEED FOR
--------------------------------------------------------------------------------
PRIOR  OR  SUBSEQUENT  ACCOUNTING)  BY  AN INSTRUMENT IN WRITING EXECUTED BY THE
--------------------------------------------------------------------------------
GUARANTEE  TRUSTEE  AND  DELIVERED TO THE GUARANTOR, WHICH RESIGNATION SHALL NOT
--------------------------------------------------------------------------------
TAKE  EFFECT  UNTIL  A  SUCCESSOR  GUARANTEE  TRUSTEE HAS BEEN APPOINTED AND HAS
--------------------------------------------------------------------------------
ACCEPTED SUCH APPOINTMENT BY AN INSTRUMENT IN WRITING EXECUTED BY SUCH SUCCESSOR
--------------------------------------------------------------------------------
GUARANTEE  TRUSTEE  AND  DELIVERED  TO THE GUARANTOR AND THE RESIGNING GUARANTEE
--------------------------------------------------------------------------------
TRUSTEE.
--------


                                      195
<PAGE>
     IF  NO  SUCCESSOR  GUARANTEE TRUSTEE SHALL HAVE BEEN APPOINTED AND ACCEPTED
     ---------------------------------------------------------------------------
APPOINTMENT  AS PROVIDED IN THIS SECTION 3.2 WITHIN 60 DAYS AFTER DELIVERY OF AN
--------------------------------------------------------------------------------
INSTRUMENT  OF  REMOVAL OR RESIGNATION, THE GUARANTEE TRUSTEE RESIGNING OR BEING
--------------------------------------------------------------------------------
REMOVED  MAY  PETITION  ANY COURT OF COMPETENT JURISDICTION FOR APPOINTMENT OF A
--------------------------------------------------------------------------------
SUCCESSOR  GUARANTEE  TRUSTEE.  SUCH COURT MAY THEREUPON, AFTER PRESCRIBING SUCH
--------------------------------------------------------------------------------
NOTICE,  IF  ANY,  AS IT MAY DEEM PROPER, APPOINT A SUCCESSOR GUARANTEE TRUSTEE.
--------------------------------------------------------------------------------

     NO  GUARANTEE  TRUSTEE  SHALL BE LIABLE FOR THE ACTS OR OMISSIONS TO ACT OF
     ---------------------------------------------------------------------------
ANY  SUCCESSOR  GUARANTEE  TRUSTEE.
-----------------------------------

     UPON  TERMINATION  OF  THIS  GUARANTEE  OR  REMOVAL  OR  RESIGNATION OF THE
     ---------------------------------------------------------------------------
GUARANTEE  TRUSTEE  PURSUANT TO THIS SECTION 3.2, THE GUARANTOR SHALL PAY TO THE
--------------------------------------------------------------------------------
GUARANTEE  TRUSTEE ALL AMOUNTS OWING TO THE GUARANTEE TRUSTEE UNDER SECTIONS 7.2
--------------------------------------------------------------------------------
AND  7.3  ACCRUED  TO  THE  DATE  OF  SUCH  TERMINATION, REMOVAL OR RESIGNATION.
--------------------------------------------------------------------------------


                                    GUARANTEE

     GUARANTEE.

     THE  GUARANTOR IRREVOCABLY AND UNCONDITIONALLY AGREES TO PAY IN FULL TO THE
     ---------------------------------------------------------------------------
HOLDERS  THE GUARANTEE PAYMENTS (WITHOUT DUPLICATION OF AMOUNTS THERETOFORE PAID
--------------------------------------------------------------------------------
BY  THE  ISSUER), AS AND WHEN DUE, REGARDLESS OF ANY DEFENSE (EXCEPT THE DEFENSE
--------------------------------------------------------------------------------
OF  PAYMENT BY THE ISSUER), RIGHT OF SET-OFF OR COUNTERCLAIM THAT THE ISSUER MAY
--------------------------------------------------------------------------------
HAVE  OR  ASSERT.  THE GUARANTOR'S OBLIGATION TO MAKE A GUARANTEE PAYMENT MAY BE
--------------------------------------------------------------------------------
SATISFIED  BY  DIRECT  PAYMENT  OF  THE REQUIRED AMOUNTS BY THE GUARANTOR TO THE
--------------------------------------------------------------------------------
HOLDERS  OR  BY  CAUSING  THE  ISSUER  TO  PAY  SUCH  AMOUNTS  TO  THE  HOLDERS.
--------------------------------------------------------------------------------

     THE  GUARANTOR  HEREBY ALSO AGREES TO ASSUME ANY AND ALL OBLIGATIONS OF THE
     ---------------------------------------------------------------------------
ISSUER  AND  IN  THE EVENT ANY SUCH OBLIGATION IS NOT SO ASSUMED, SUBJECT TO THE
--------------------------------------------------------------------------------
TERMS  AND  CONDITIONS  HEREOF,  THE  GUARANTOR  HEREBY  IRREVOCABLY  AND
-------------------------------------------------------------------------
UNCONDITIONALLY  GUARANTEES  TO  EACH  BENEFICIARY THE FULL PAYMENT, WHEN AND AS
--------------------------------------------------------------------------------
DUE,  OF  ANY  AND  ALL  OBLIGATIONS  TO  SUCH BENEFICIARIES.  THIS GUARANTEE IS
--------------------------------------------------------------------------------
INTENDED  TO  BE  FOR  THE  BENEFIT  OF,  AND  TO  BE  ENFORCEABLE  BY, ALL SUCH
--------------------------------------------------------------------------------
BENEFICIARIES,  WHETHER  OR  NOT SUCH BENEFICIARIES HAVE RECEIVED NOTICE HEREOF.
--------------------------------------------------------------------------------

     WAIVER  OF  NOTICE  AND  DEMAND.     The  Guarantor hereby waives notice of
acceptance  of  this  Guarantee  and of any liability to which it applies or may
apply,  presentment, demand for payment, any right to require a proceeding first
against  the Issuer or any other Person before proceeding against the Guarantor,
protest,  notice of nonpayment, notice of dishonor, notice of redemption and all
other  notices  and  demands.

     OBLIGATIONS  NOT  AFFECTED.     The  obligations, covenants, agreements and
duties  of  the  Guarantor  under  this Guarantee shall in no way be affected or
impaired  by  reason of the happening from time to time of any of the following:

     THE RELEASE OR WAIVER, BY OPERATION OF LAW OR OTHERWISE, OF THE PERFORMANCE
OR  OBSERVANCE BY THE ISSUER OF ANY EXPRESS OR IMPLIED AGREEMENT, COVENANT, TERM
OR  CONDITION  RELATING TO THE CAPITAL SECURITIES TO BE PERFORMED OR OBSERVED BY
THE  ISSUER;


                                      196
<PAGE>
     THE  EXTENSION  OF TIME FOR THE PAYMENT BY THE ISSUER OF ALL OR ANY PORTION
     ---------------------------------------------------------------------------
OF  THE  DISTRIBUTIONS,  REDEMPTION PRICE, SPECIAL REDEMPTION PRICE, LIQUIDATION
--------------------------------------------------------------------------------
DISTRIBUTION OR ANY OTHER SUMS PAYABLE UNDER THE TERMS OF THE CAPITAL SECURITIES
--------------------------------------------------------------------------------
OR  THE  EXTENSION  OF  TIME  FOR THE PERFORMANCE OF ANY OTHER OBLIGATION UNDER,
--------------------------------------------------------------------------------
ARISING  OUT  OF  OR  IN  CONNECTION WITH, THE CAPITAL SECURITIES (OTHER THAN AN
--------------------------------------------------------------------------------
EXTENSION  OF  TIME  FOR  PAYMENT  OF  DISTRIBUTIONS,  REDEMPTION PRICE, SPECIAL
--------------------------------------------------------------------------------
REDEMPTION  PRICE,  LIQUIDATION  DISTRIBUTION  OR OTHER SUM PAYABLE THAT RESULTS
--------------------------------------------------------------------------------
FROM  THE  EXTENSION  OF  ANY  INTEREST  PAYMENT PERIOD ON THE DEBENTURES OR ANY
--------------------------------------------------------------------------------
EXTENSION  OF  THE  MATURITY DATE OF THE DEBENTURES PERMITTED BY THE INDENTURE);
--------------------------------------------------------------------------------

     ANY  FAILURE,  OMISSION,  DELAY  OR  LACK  OF  DILIGENCE ON THE PART OF THE
     ---------------------------------------------------------------------------
HOLDERS  TO  ENFORCE,  ASSERT  OR EXERCISE ANY RIGHT, PRIVILEGE, POWER OR REMEDY
--------------------------------------------------------------------------------
CONFERRED ON THE HOLDERS PURSUANT TO THE TERMS OF THE CAPITAL SECURITIES, OR ANY
--------------------------------------------------------------------------------
ACTION  ON  THE PART OF THE ISSUER GRANTING INDULGENCE OR EXTENSION OF ANY KIND;
--------------------------------------------------------------------------------

     THE  VOLUNTARY  OR  INVOLUNTARY  LIQUIDATION,  DISSOLUTION,  SALE  OF  ANY
     ---------------------------------------------------------------------------
COLLATERAL,  RECEIVERSHIP, INSOLVENCY, BANKRUPTCY, ASSIGNMENT FOR THE BENEFIT OF
--------------------------------------------------------------------------------
CREDITORS,  REORGANIZATION, ARRANGEMENT, COMPOSITION OR READJUSTMENT OF DEBT OF,
--------------------------------------------------------------------------------
OR  OTHER  SIMILAR PROCEEDINGS AFFECTING, THE ISSUER OR ANY OF THE ASSETS OF THE
--------------------------------------------------------------------------------
ISSUER;
-------

     ANY  INVALIDITY  OF,  OR  DEFECT  OR DEFICIENCY IN, THE CAPITAL SECURITIES;
     ---------------------------------------------------------------------------

     THE  SETTLEMENT OR COMPROMISE OF ANY OBLIGATION GUARANTEED HEREBY OR HEREBY
     ---------------------------------------------------------------------------
INCURRED;  OR
-------------

     ANY  OTHER  CIRCUMSTANCE WHATSOEVER THAT MIGHT OTHERWISE CONSTITUTE A LEGAL
     ---------------------------------------------------------------------------
OR  EQUITABLE  DISCHARGE  OR DEFENSE OF A GUARANTOR, IT BEING THE INTENT OF THIS
--------------------------------------------------------------------------------
SECTION  4.3  THAT  THE OBLIGATIONS OF THE GUARANTOR HEREUNDER SHALL BE ABSOLUTE
--------------------------------------------------------------------------------
AND  UNCONDITIONAL  UNDER  ANY  AND  ALL  CIRCUMSTANCES.
--------------------------------------------------------

     There  shall  be  no obligation of the Holders to give notice to, or obtain
consent of, the Guarantor with respect to the happening of any of the foregoing.

     RIGHTS  OF  HOLDERS.

     THE  HOLDERS  OF A MAJORITY IN LIQUIDATION AMOUNT OF THE CAPITAL SECURITIES
     ---------------------------------------------------------------------------
HAVE THE RIGHT TO DIRECT THE TIME, METHOD AND PLACE OF CONDUCTING ANY PROCEEDING
--------------------------------------------------------------------------------
FOR  ANY  REMEDY AVAILABLE TO THE GUARANTEE TRUSTEE IN RESPECT OF THIS GUARANTEE
--------------------------------------------------------------------------------
OR  TO  DIRECT  THE  EXERCISE OF ANY TRUST OR POWER CONFERRED UPON THE GUARANTEE
--------------------------------------------------------------------------------
TRUSTEE  UNDER  THIS GUARANTEE; PROVIDED, HOWEVER, THAT (SUBJECT TO SECTION 2.1)
--------------------------------------------------------------------------------
THE  GUARANTEE  TRUSTEE  SHALL  HAVE  THE  RIGHT  TO  DECLINE TO FOLLOW ANY SUCH
--------------------------------------------------------------------------------
DIRECTION  IF THE GUARANTEE TRUSTEE BEING ADVISED BY COUNSEL DETERMINES THAT THE
--------------------------------------------------------------------------------
ACTION  OR  PROCEEDING SO DIRECTED MAY NOT LAWFULLY BE TAKEN OR IF THE GUARANTEE
--------------------------------------------------------------------------------
TRUSTEE  IN  GOOD  FAITH  BY  ITS  BOARD  OF  DIRECTORS  OR  TRUSTEES, EXECUTIVE
--------------------------------------------------------------------------------
COMMITTEES  OR  A  TRUST  COMMITTEE  OF DIRECTORS OR TRUSTEES AND/OR RESPONSIBLE
--------------------------------------------------------------------------------
OFFICERS  SHALL  DETERMINE  THAT  THE  ACTION  OR  PROCEEDINGS SO DIRECTED WOULD
--------------------------------------------------------------------------------
INVOLVE  THE  GUARANTEE  TRUSTEE  IN  PERSONAL  LIABILITY.
----------------------------------------------------------

     ANY  HOLDER OF CAPITAL SECURITIES MAY INSTITUTE A LEGAL PROCEEDING DIRECTLY
     ---------------------------------------------------------------------------
AGAINST  THE  GUARANTOR  TO  ENFORCE  THE  GUARANTEE TRUSTEE'S RIGHTS UNDER THIS
--------------------------------------------------------------------------------
GUARANTEE,  WITHOUT FIRST INSTITUTING A LEGAL PROCEEDING AGAINST THE ISSUER, THE
--------------------------------------------------------------------------------
GUARANTEE TRUSTEE OR ANY OTHER PERSON.  THE GUARANTOR WAIVES ANY RIGHT OR REMEDY
--------------------------------------------------------------------------------
TO  REQUIRE  THAT  ANY  SUCH  ACTION  BE  BROUGHT  FIRST AGAINST THE ISSUER, THE
--------------------------------------------------------------------------------
GUARANTEE  TRUSTEE OR ANY OTHER PERSON BEFORE SO PROCEEDING DIRECTLY AGAINST THE
--------------------------------------------------------------------------------
GUARANTOR.
----------

     GUARANTEE OF PAYMENT.     This Guarantee creates a guarantee of payment and
not  of  collection.


                                      197
<PAGE>
     SUBROGATION.     The  Guarantor  shall be subrogated to all (if any) rights
of  the  Holders  of  Capital  Securities  against  the Issuer in respect of any
amounts  paid  to  such Holders by the Guarantor under this Guarantee; provided,
                                                                       --------
however,  that  the  Guarantor  shall  not  (except  to  the  extent required by
-------
mandatory  provisions  of law) be entitled to enforce or exercise any right that
it  may  acquire  by way of subrogation or any indemnity, reimbursement or other
agreement,  in  all cases as a result of payment under this Guarantee, if, after
giving  effect  to  any  such payment, any amounts are due and unpaid under this
Guarantee.  If  any  amount  shall  be paid to the Guarantor in violation of the
preceding  sentence,  the  Guarantor agrees to hold such amount in trust for the
Holders  and  to  pay  over  such  amount  to  the  Holders.

     INDEPENDENT  OBLIGATIONS.     The  Guarantor  acknowledges  that  its
obligations  hereunder  are  independent  of  the obligations of the Issuer with
respect  to  the  Capital  Securities  and that the Guarantor shall be liable as
principal  and  as  debtor  hereunder to make Guarantee Payments pursuant to the
terms  of this Guarantee notwithstanding the occurrence of any event referred to
in  subsections  (a)  through  (g),  inclusive,  of  Section  4.3  hereof.
     ENFORCEMENT BY A BENEFICIARY.     A Beneficiary may enforce the obligations
of  the Guarantor contained in Section 4.1(b) directly against the Guarantor and
the  Guarantor  waives any right or remedy to require that any action be brought
against  the  Issuer or any other person or entity before proceeding against the
Guarantor.  The  Guarantor  shall  be  subrogated  to all rights (if any) of any
Beneficiary  against  the  Issuer  in  respect  of  any  amounts  paid  to  the
Beneficiaries by the Guarantor under this Guarantee; provided, however, that the
                                                     --------  -------
Guarantor  shall  not  (except to the extent required by mandatory provisions of
law) be entitled to enforce or exercise any rights that it may acquire by way of
subrogation  or any indemnity, reimbursement or other agreement, in all cases as
a  result  of  payment under this Guarantee, if at the time of any such payment,
and  after  giving  effect to such payment, any amounts are due and unpaid under
this  Guarantee.


                    LIMITATION OF TRANSACTIONS; SUBORDINATION

     LIMITATION  OF  TRANSACTIONS.     So  long as any Capital Securities remain
outstanding,  if  (a)  there  shall  have occurred and be continuing an Event of
Default  or  a  Declaration  Event  of  Default  or (b) the Guarantor shall have
selected  an Extension Period as provided in the Declaration and such period, or
any  extension  thereof,  shall  have  commenced  and  be  continuing,  then the
Guarantor shall not and shall not permit any Affiliate to (x) declare or pay any
dividends  or  distributions  on,  or  redeem,  purchase,  acquire,  or  make  a
liquidation  payment with respect to, any of the Guarantor's or such Affiliate's
capital  stock  (other  than  payments  of  dividends  or  distributions  to the
Guarantor)  or  make any guarantee payments with respect to the foregoing or (y)
make  any  payment  of principal of or interest or premium, if any, on or repay,
repurchase  or redeem any debt securities of the Guarantor or any Affiliate that
rank  pari  passu  in  all respects with or junior in interest to the Debentures
(other  than,  with  respect  to  clauses  (x)  and  (y) above, (i) repurchases,
redemptions or other acquisitions of shares of capital stock of the Guarantor in
connection  with  any  employment  contract,  benefit  plan  or  other  similar
arrangement  with  or  for  the  benefit  of  one  or  more employees, officers,
directors  or  consultants,  in  connection  with  a  dividend  reinvestment  or
stockholder  stock  purchase  plan or in connection with the issuance of capital
stock  of  the Guarantor (or securities convertible into or exercisable for such
capital stock) as consideration in an acquisition transaction entered into prior
to  the  occurrence  of  the  Event  of Default, Declaration Event of Default or
Extension  Period, as applicable, (ii) as a result of any exchange or conversion
of  any  class  or series of the Guarantor's capital stock (or any capital stock


                                      198
<PAGE>
of  a  subsidiary  of  the Guarantor) for any class or series of the Guarantor's
capital  stock or of any class or series of the Guarantor's indebtedness for any
class  or  series  of  the  Guarantor's  capital  stock,  (iii)  the purchase of
fractional  interests in shares of the Guarantor's capital stock pursuant to the
conversion  or  exchange  provisions of such capital stock or the security being
converted  or  exchanged,  (iv) any declaration of a dividend in connection with
any  stockholders'  rights  plan,  or  the  issuance  of  rights, stock or other
property under any stockholders' rights plan, or the redemption or repurchase of
rights  pursuant  thereto,  (v)  any  dividend  in  the form of stock, warrants,
options  or  other  rights  where  the dividend stock or the stock issuable upon
exercise  of such warrants, options or other rights is the same stock as that on
which  the  dividend  is  being  paid or ranks pari passu with or junior to such
stock  and  any  cash payments in lieu of fractional shares issued in connection
therewith,  or  (vi)  payments  under  this  Guarantee).

     RANKING.     This  Guarantee will constitute an unsecured obligation of the
Guarantor  and  will  rank  subordinate  and  junior  in right of payment to all
present  and  future  Senior  Indebtedness  (as defined in the Indenture) of the
Guarantor.  By  their  acceptance  thereof,  each  Holder  of Capital Securities
agrees  to  the  foregoing  provisions of this Guarantee and the other terms set
forth  herein.

     The  right of the Guarantor to participate in any distribution of assets of
any of its subsidiaries upon any such subsidiary's liquidation or reorganization
or  otherwise  is  subject  to the prior claims of creditors of that subsidiary,
except  to  the  extent  the Guarantor may itself be recognized as a creditor of
that  subsidiary.  Accordingly, the Guarantor's obligations under this Guarantee
will  be  effectively subordinated to all existing and future liabilities of the
Guarantor's  subsidiaries,  and  claimants should look only to the assets of the
Guarantor  for payments hereunder.  This Guarantee does not limit the incurrence
or  issuance  of  other  secured  or  unsecured debt of the Guarantor, including
Senior Indebtedness of the Guarantor, under any indenture that the Guarantor may
enter  into  in  the  future  or  otherwise.


                                   TERMINATION

     TERMINATION.     This  Guarantee  shall  terminate  as  to  the  Capital
Securities  (i)  upon full payment of the Redemption Price or Special Redemption
Price  of all Capital Securities then outstanding, (ii) upon the distribution of
all  of  the Debentures to the Holders of all of the Capital Securities or (iii)
upon full payment of the amounts payable in accordance with the Declaration upon
dissolution of the Issuer.  This Guarantee will continue to be effective or will
be  reinstated,  as  the  case  may  be,  if  at  any time any Holder of Capital
Securities must restore payment of any sums paid under the Capital Securities or
under  this  Guarantee.


                                 INDEMNIFICATION
     EXCULPATION.

     NO  INDEMNIFIED  PERSON  SHALL  BE  LIABLE,  RESPONSIBLE  OR ACCOUNTABLE IN
     ---------------------------------------------------------------------------
DAMAGES OR OTHERWISE TO THE GUARANTOR OR ANY COVERED PERSON FOR ANY LOSS, DAMAGE
--------------------------------------------------------------------------------
OR  CLAIM INCURRED BY REASON OF ANY ACT OR OMISSION PERFORMED OR OMITTED BY SUCH
--------------------------------------------------------------------------------
INDEMNIFIED  PERSON  IN  GOOD  FAITH  IN ACCORDANCE WITH THIS GUARANTEE AND IN A
--------------------------------------------------------------------------------
MANNER  THAT  SUCH INDEMNIFIED PERSON REASONABLY BELIEVED TO BE WITHIN THE SCOPE
--------------------------------------------------------------------------------
OF  THE  AUTHORITY  CONFERRED ON SUCH INDEMNIFIED PERSON BY THIS GUARANTEE OR BY
--------------------------------------------------------------------------------
LAW,  EXCEPT  THAT  AN
----------------------


                                      199
<PAGE>
INDEMNIFIED  PERSON  SHALL BE LIABLE FOR ANY SUCH LOSS, DAMAGE OR CLAIM INCURRED
--------------------------------------------------------------------------------
BY  REASON  OF  SUCH  INDEMNIFIED PERSON'S NEGLIGENCE OR WILLFUL MISCONDUCT WITH
--------------------------------------------------------------------------------
RESPECT  TO  SUCH  ACTS  OR  OMISSIONS.
---------------------------------------

     AN  INDEMNIFIED  PERSON  SHALL  BE FULLY PROTECTED IN RELYING IN GOOD FAITH
     ---------------------------------------------------------------------------
UPON  THE  RECORDS  OF  THE  ISSUER  OR THE GUARANTOR AND UPON SUCH INFORMATION,
--------------------------------------------------------------------------------
OPINIONS,  REPORTS OR STATEMENTS PRESENTED TO THE ISSUER OR THE GUARANTOR BY ANY
--------------------------------------------------------------------------------
PERSON  AS TO MATTERS THE INDEMNIFIED PERSON REASONABLY BELIEVES ARE WITHIN SUCH
--------------------------------------------------------------------------------
OTHER  PERSON'S  PROFESSIONAL  OR EXPERT COMPETENCE AND WHO, IF SELECTED BY SUCH
--------------------------------------------------------------------------------
INDEMNIFIED  PERSON,  HAS BEEN SELECTED WITH REASONABLE CARE BY SUCH INDEMNIFIED
--------------------------------------------------------------------------------
PERSON,  INCLUDING  INFORMATION, OPINIONS, REPORTS OR STATEMENTS AS TO THE VALUE
--------------------------------------------------------------------------------
AND  AMOUNT  OF  THE  ASSETS,  LIABILITIES,  PROFITS, LOSSES, OR ANY OTHER FACTS
--------------------------------------------------------------------------------
PERTINENT  TO  THE  EXISTENCE  AND  AMOUNT OF ASSETS FROM WHICH DISTRIBUTIONS TO
--------------------------------------------------------------------------------
HOLDERS  OF  CAPITAL  SECURITIES  MIGHT  PROPERLY  BE  PAID.
------------------------------------------------------------

     INDEMNIFICATION.

     THE  GUARANTOR AGREES TO INDEMNIFY EACH INDEMNIFIED PERSON FOR, AND TO HOLD
     ---------------------------------------------------------------------------
EACH  INDEMNIFIED  PERSON HARMLESS AGAINST, ANY AND ALL LOSS, LIABILITY, DAMAGE,
--------------------------------------------------------------------------------
CLAIM  OR  EXPENSE INCURRED WITHOUT NEGLIGENCE OR WILLFUL MISCONDUCT ON THE PART
--------------------------------------------------------------------------------
OF  THE  INDEMNIFIED PERSON, ARISING OUT OF OR IN CONNECTION WITH THE ACCEPTANCE
--------------------------------------------------------------------------------
OR  ADMINISTRATION  OF THE TRUST OR TRUSTS HEREUNDER, INCLUDING, BUT NOT LIMITED
--------------------------------------------------------------------------------
TO, THE COSTS AND EXPENSES (INCLUDING REASONABLE LEGAL FEES AND EXPENSES) OF THE
--------------------------------------------------------------------------------
INDEMNIFIED  PERSON  DEFENDING  ITSELF  AGAINST,  OR INVESTIGATING, ANY CLAIM OR
--------------------------------------------------------------------------------
LIABILITY  IN  CONNECTION  WITH  THE  EXERCISE  OR  PERFORMANCE  OF  ANY  OF THE
--------------------------------------------------------------------------------
INDEMNIFIED PERSON'S POWERS OR DUTIES HEREUNDER.  THE OBLIGATION TO INDEMNIFY AS
--------------------------------------------------------------------------------
SET  FORTH  IN  THIS SECTION 7.2 SHALL SURVIVE THE RESIGNATION OR REMOVAL OF THE
--------------------------------------------------------------------------------
GUARANTEE  TRUSTEE  AND  THE  TERMINATION  OF  THIS  GUARANTEE.
--------------------------------------------------------------------------------

     PROMPTLY  AFTER  RECEIPT BY AN INDEMNIFIED PERSON UNDER THIS SECTION 7.2 OF
     ---------------------------------------------------------------------------
NOTICE  OF  THE  COMMENCEMENT  OF ANY ACTION, SUCH INDEMNIFIED PERSON WILL, IF A
--------------------------------------------------------------------------------
CLAIM  IN RESPECT THEREOF IS TO BE MADE AGAINST THE GUARANTOR UNDER THIS SECTION
--------------------------------------------------------------------------------
7.2,  NOTIFY  THE  GUARANTOR  IN  WRITING  OF  THE COMMENCEMENT THEREOF; BUT THE
--------------------------------------------------------------------------------
FAILURE  SO  TO  NOTIFY  THE  GUARANTOR  (I) WILL NOT RELIEVE THE GUARANTOR FROM
--------------------------------------------------------------------------------
LIABILITY  UNDER PARAGRAPH (A) ABOVE UNLESS AND TO THE EXTENT THAT THE GUARANTOR
--------------------------------------------------------------------------------
DID  NOT  OTHERWISE  LEARN  OF  SUCH  ACTION  AND  SUCH  FAILURE  RESULTS IN THE
--------------------------------------------------------------------------------
FORFEITURE  BY  THE  GUARANTOR  OF SUBSTANTIAL RIGHTS AND DEFENSES AND (II) WILL
--------------------------------------------------------------------------------
NOT, IN ANY EVENT, RELIEVE THE GUARANTOR FROM ANY OBLIGATIONS TO ANY INDEMNIFIED
--------------------------------------------------------------------------------
PERSON  OTHER  THAN  THE  INDEMNIFICATION  OBLIGATION  PROVIDED IN PARAGRAPH (A)
--------------------------------------------------------------------------------
ABOVE.  THE  GUARANTOR  SHALL  BE ENTITLED TO APPOINT COUNSEL OF THE GUARANTOR'S
--------------------------------------------------------------------------------
CHOICE  AT  THE  GUARANTOR'S  EXPENSE TO REPRESENT THE INDEMNIFIED PERSON IN ANY
--------------------------------------------------------------------------------
ACTION  FOR  WHICH  INDEMNIFICATION IS SOUGHT (IN WHICH CASE THE GUARANTOR SHALL
--------------------------------------------------------------------------------
NOT  THEREAFTER BE RESPONSIBLE FOR THE FEES AND EXPENSES OF ANY SEPARATE COUNSEL
--------------------------------------------------------------------------------
RETAINED  BY  THE  INDEMNIFIED  PERSON  OR  PERSONS  EXCEPT AS SET FORTH BELOW);
--------------------------------------------------------------------------------
PROVIDED,  HOWEVER,  THAT  SUCH  COUNSEL SHALL BE REASONABLY SATISFACTORY TO THE
--------------------------------------------------------------------------------
INDEMNIFIED PERSON.  NOTWITHSTANDING THE GUARANTOR'S ELECTION TO APPOINT COUNSEL
--------------------------------------------------------------------------------
TO  REPRESENT  THE GUARANTOR IN AN ACTION, THE INDEMNIFIED PERSON SHALL HAVE THE
--------------------------------------------------------------------------------
RIGHT  TO  EMPLOY  SEPARATE COUNSEL (INCLUDING LOCAL COUNSEL), AND THE GUARANTOR
--------------------------------------------------------------------------------
SHALL  BEAR  THE REASONABLE FEES, COSTS AND EXPENSES OF SUCH SEPARATE COUNSEL IF
--------------------------------------------------------------------------------
(I)  THE  USE  OF  COUNSEL  CHOSEN BY THE GUARANTOR TO REPRESENT THE INDEMNIFIED
--------------------------------------------------------------------------------
PERSON  WOULD  PRESENT SUCH COUNSEL WITH A CONFLICT OF INTEREST, (II) THE ACTUAL
--------------------------------------------------------------------------------
OR  POTENTIAL  DEFENDANTS  IN,  OR  TARGETS OF, ANY SUCH ACTION INCLUDE BOTH THE
--------------------------------------------------------------------------------
INDEMNIFIED  PERSON  AND  THE  GUARANTOR  AND  THE INDEMNIFIED PERSON SHALL HAVE
--------------------------------------------------------------------------------
REASONABLY  CONCLUDED  THAT  THERE  MAY BE LEGAL DEFENSES AVAILABLE TO IT AND/OR
--------------------------------------------------------------------------------
OTHER  INDEMNIFIED  PERSON(S)  WHICH  ARE  DIFFERENT FROM OR ADDITIONAL TO THOSE
--------------------------------------------------------------------------------
AVAILABLE  TO THE GUARANTOR, (III) THE GUARANTOR SHALL NOT HAVE EMPLOYED COUNSEL
--------------------------------------------------------------------------------
SATISFACTORY  TO  THE  INDEMNIFIED  PERSON  TO  REPRESENT THE INDEMNIFIED PERSON
--------------------------------------------------------------------------------
WITHIN  A REASONABLE TIME AFTER NOTICE OF THE INSTITUTION OF SUCH ACTION OR (IV)
--------------------------------------------------------------------------------
THE  GUARANTOR SHALL AUTHORIZE THE INDEMNIFIED PERSON TO EMPLOY SEPARATE COUNSEL
--------------------------------------------------------------------------------
AT  THE  EXPENSE  OF  THE  GUARANTOR.  THE GUARANTOR WILL NOT, WITHOUT THE PRIOR
--------------------------------------------------------------------------------
WRITTEN  CONSENT  OF THE INDEMNIFIED PERSONS, SETTLE OR COMPROMISE OR CONSENT TO
--------------------------------------------------------------------------------
THE  ENTRY  OF  ANY  JUDGMENT  WITH  RESPECT TO ANY PENDING OR THREATENED CLAIM,
--------------------------------------------------------------------------------
ACTION,  SUIT  OR  PROCEEDING  IN  RESPECT  OF  WHICH
-----------------------------------------------------


                                      200
<PAGE>
INDEMNIFICATION  OR  CONTRIBUTION  MAY  BE  SOUGHT HEREUNDER (WHETHER OR NOT THE
--------------------------------------------------------------------------------
INDEMNIFIED  PERSONS  ARE  ACTUAL  OR POTENTIAL PARTIES TO SUCH CLAIM OR ACTION)
--------------------------------------------------------------------------------
UNLESS  SUCH SETTLEMENT, COMPROMISE OR CONSENT INCLUDES AN UNCONDITIONAL RELEASE
--------------------------------------------------------------------------------
OF EACH INDEMNIFIED PERSON FROM ALL LIABILITY ARISING OUT OF SUCH CLAIM, ACTION,
--------------------------------------------------------------------------------
SUIT  OR  PROCEEDING.
---------------------

     COMPENSATION;  REIMBURSEMENT  OF  EXPENSES.     The  Guarantor  agrees:

     TO PAY TO THE GUARANTEE TRUSTEE FROM TIME TO TIME SUCH COMPENSATION FOR ALL
     ---------------------------------------------------------------------------
SERVICES  RENDERED  BY  IT  HEREUNDER AS THE PARTIES SHALL AGREE TO FROM TIME TO
--------------------------------------------------------------------------------
TIME  (WHICH COMPENSATION SHALL NOT BE LIMITED BY ANY PROVISION OF LAW IN REGARD
--------------------------------------------------------------------------------
TO  THE  COMPENSATION  OF  A  TRUSTEE  OF  AN  EXPRESS  TRUST);  AND
--------------------------------------------------------------------------------

     EXCEPT  AS  OTHERWISE EXPRESSLY PROVIDED HEREIN, TO REIMBURSE THE GUARANTEE
--------------------------------------------------------------------------------
TRUSTEE  UPON  REQUEST  FOR  ALL REASONABLE EXPENSES, DISBURSEMENTS AND ADVANCES
--------------------------------------------------------------------------------
INCURRED  OR  MADE  BY  IT  IN  ACCORDANCE  WITH ANY PROVISION OF THIS GUARANTEE
--------------------------------------------------------------------------------
(INCLUDING THE REASONABLE COMPENSATION AND THE EXPENSES AND DISBURSEMENTS OF ITS
--------------------------------------------------------------------------------
AGENTS  AND COUNSEL), EXCEPT ANY SUCH EXPENSE, DISBURSEMENT OR ADVANCE AS MAY BE
--------------------------------------------------------------------------------
ATTRIBUTABLE  TO  ITS  NEGLIGENCE  OR  WILLFUL  MISCONDUCT.
-----------------------------------------------------------

     For  purposes  of  clarification, this Section 7.3 does not contemplate the
payment  by  the  Guarantor of acceptance or annual administration fees owing to
the Guarantee Trustee for services to be provided by the Guarantee Trustee under
this  Guarantee  or  the fees and expenses of the Guarantee Trustee's counsel in
connection  with the closing of the transactions contemplated by this Guarantee.
The  provisions  of this Section 7.3 shall survive the resignation or removal of
the  Guarantee  Trustee  and  the  termination  of  this  Guarantee.


                                  MISCELLANEOUS

     SUCCESSORS AND ASSIGNS.     All guarantees and agreements contained in this
Guarantee  shall  bind  the  successors,  assigns,  receivers,  trustees  and
representatives  of  the Guarantor and shall inure to the benefit of the Holders
of  the  Capital  Securities  then  outstanding.  Except  in connection with any
merger  or  consolidation  of  the  Guarantor with or into another entity or any
sale,  transfer  or  lease  of the Guarantor's assets to another entity, in each
case,  to the extent permitted under the Indenture, the Guarantor may not assign
its  rights  or  delegate its obligations under this Guarantee without the prior
approval  of  the  Holders  of  at least a Majority in liquidation amount of the
Capital  Securities.

     AMENDMENTS.     Except  with  respect  to any changes that do not adversely
affect  the  rights of Holders of the Capital Securities in any material respect
(in  which  case  no consent of Holders will be required), this Guarantee may be
amended  only with the prior approval of the Holders of not less than a Majority
in  liquidation  amount  of  the  Capital  Securities.  The  provisions  of  the
Declaration  with  respect  to  amendments  thereof  apply to the giving of such
approval.

     NOTICES.     All  notices  provided  for  in  this  Guarantee  shall  be in
writing,  duly  signed  by the party giving such notice, and shall be delivered,
telecopied  or  mailed  by  first  class  mail,  as  follows:

     IF  GIVEN  TO  THE  GUARANTEE  TRUSTEE,  AT THE GUARANTEE TRUSTEE'S MAILING
     ---------------------------------------------------------------------------
ADDRESS SET FORTH BELOW (OR SUCH OTHER ADDRESS AS THE GUARANTEE TRUSTEE MAY GIVE
--------------------------------------------------------------------------------
NOTICE  OF  TO  THE  HOLDERS  OF  THE  CAPITAL  SECURITIES  AND  THE GUARANTOR):
--------------------------------------------------------------------------------


                                      201
<PAGE>
     U.  S.  Bank  National  Association
     225  Asylum  Street,  Goodwin  Square
     Hartford,  Connecticut  06103
     Attention:  Corporate  Trust  Services  Division
     Telecopy:  860-244-1889

     With  a  copy  to:

     U.  S.  Bank  National  Association
     1  Federal  Street  -  3rd  Floor
     Boston,  Massachusetts  02110
     Attention:  Paul  D.  Allen,  Corporate  Trust  Services  Division
     Telecopy:  617-603-6665

     IF  GIVEN  TO  THE  GUARANTOR, AT THE GUARANTOR'S MAILING ADDRESS SET FORTH
     ---------------------------------------------------------------------------
BELOW  (OR SUCH OTHER ADDRESS AS THE GUARANTOR MAY GIVE NOTICE OF TO THE HOLDERS
--------------------------------------------------------------------------------
OF  THE  CAPITAL  SECURITIES  AND  TO  THE  GUARANTEE  TRUSTEE):
----------------------------------------------------------------

     Community  Capital  Bancshares,  Inc.
     2722  #1  Dawson  Road
     Albany,  Georgia  31707
     Attention:  David  J.  Baranko
     Telecopy:  229-446-2274

     IF  GIVEN TO ANY HOLDER OF THE CAPITAL SECURITIES, AT THE ADDRESS SET FORTH
     ---------------------------------------------------------------------------
ON  THE  BOOKS  AND  RECORDS  OF  THE  ISSUER.
----------------------------------------------

     All  such  notices  shall  be  deemed  to  have been given when received in
person,  telecopied  with  receipt  confirmed,  or  mailed  by first class mail,
postage  prepaid,  except that if a notice or other document is refused delivery
or  cannot  be  delivered  because  of  a changed address of which no notice was
given,  such  notice or other document shall be deemed to have been delivered on
the  date  of  such  refusal  or  inability  to  deliver.

     BENEFIT.     This  Guarantee is solely for the benefit of the Beneficiaries
and,  subject to Section 2.1(a), is not separately transferable from the Capital
Securities.

     GOVERNING  LAW.     THIS  GUARANTEE SHALL BE GOVERNED BY, AND CONSTRUED AND
INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK, WITHOUT REGARD
TO  CONFLICT  OF  LAWS  PRINCIPLES THEREOF (OTHER THAN SECTION 5-1401 OF THE NEW
YORK  GENERAL  OBLIGATIONS  LAW).

     COUNTERPARTS.     This  Guarantee  may  be  executed  in  one  or  more
counterparts,  each  of  which  shall  be  an  original,  but all of which taken
together  shall  constitute  one  and  the  same  instrument.

     SECTION  8.7     SEPARABILITY.     In  case  one  or more of the provisions
                      ------------
contained  in this Guarantee shall for any reason be held to be invalid, illegal
or unenforceable in any respect, such invalidity, illegality or unenforceability
shall  not  affect  any  other  provisions of this Guarantee, but this Guarantee
shall  be construed as if such invalid or illegal or unenforceable provision had
never  been  contained  herein.


                                      202
<PAGE>
THIS  GUARANTEE  is  executed  as  of  the  day  and  year  first above written.


                                       COMMUNITY CAPITAL BANCSHARES, INC.,
                                       as Guarantor

                                       By:  /s/David  J.  Baranko
                                          --------------------------------
                                            Name:  David  J.  Baranko
                                            Title:   CFO



                                       U. S. BANK NATIONAL ASSOCIATION, as
                                       Guarantee Trustee

                                       By:  /s/  Paul  D.  Allen
                                          --------------------------------
                                            Name:  Paul  D.  Allen
                                            Title:    Vice  President


                                      203
<PAGE>