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                                PROMISSORY NOTE

$60,000.00                                                       MIAMI, FLORIDA
                                                               FEBRUARY 4, 1998

         FOR VALUE RECEIVED the undersigned, ROBERT PRESS (hereinafter referred
to as "Maker") promises to pay to the order of MEDLEY CREDIT ACCEPTANCE CORP.,
a Delaware corporation, or its successors or assigns (hereinafter referred to
as the "Holder"), at 1100 Ponce de Leon Boulevard, Coral Gables, Florida 33134,
or such place as the Holder hereof may from time to time designate in writing,
the principal sum of SIXTY THOUSAND DOLLARS ($60,000.00), with interest thereon
from the date of disbursement paid in lawful money of the United States of
America, which shall be legal tender in the payment of all debts and dues,
public and private at the time of payment.

         Interest: The Maker shall pay the Holder interest at the rate of ten
percent (10%) per annum, paid quarterly.

         Maturity Date: This Note shall mature and the principal sum remaining
together with any accrued and unpaid interest thereon shall become due and
payable in full on the 5th day of May, 2001 ("MATURITY DATE").

         Provided that the Holder has not exercised its right to accelerate
this Note as set forth herein; in the event any required payment is not
received by the Holder within fifteen (15) days after said payment is due, the
Maker shall pay the Lender a late charge of five percent (5%) of the payment
not so received. The Parties agreeing that said charge is a fair and reasonable
charge for the late payment and shall not be considered a penalty.

         Maker may make prepayment(s) hereunder at any time and from time to
time without premium or penalty. The amount of any partial prepayment shall be
applied to principal to become due thereon.

         It is agreed hereby that if any payment of the principal sum above
mentioned, or any installment thereof, or any interest thereon, not be made
when due, or if default be made in the performance of or compliance with any of
the other covenants and conditions of the Note, or any security agreement now
or hereafter in effect securing payment of this Note; or upon any default in
the payment of any sum due by Maker to Lender under any other Promissory Note,
Security Instrument or other written obligation of any kind now existing or
hereafter created; or upon the insolvency or bankruptcy of the Maker or any
Guarantor hereof; or upon the direct or indirect sale, conveyance or pledge of
all or any part of the Property securing this Note, or any interest therein, or
of any interest in the Maker to any other firm, partnership, corporation or
individual, without the prior written consent of the Lender in each instance,
then in any or all such events, the entire amount of principal of this Note
with all interest then accrued, shall, at the option of the Holder of this Note
and without notice (the Maker hereby expressly waives notice of such default),
become and be due and collectible, time being of the essence of this Note.

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         If this Note shall not be paid at maturity or according to the tenor
thereof and strictly as above provided, it may be placed in the hands of any
attorney at law for collection, and in that event, each party liable for the
payment thereof, as Maker, Endorser, Guarantor or otherwise, hereby agrees to
pay the Holder hereof in addition to the sums above stated, a reasonable sum as
an attorney's fee, which shall include attorney's fees at the trial level and
on appeal, together with all reasonable costs incurred. After maturity or
default, this Note shall bear interest at the highest lawful rate per annum.

         As to this Note and any other instrument securing the indebtedness,
the Maker and any endorsers severally waive all applicable exemption rights,
whether under the State Constitution, Homestead Laws or otherwise, and also
severally waive valuation and appraisement, presentment, protest and demand,
demand, notice of protest, demand and dishonor and expressly agree that the
Maturity Date of this Note or any payment hereunder, may be extended from time
to time, only with the express consent of the Holder, without in any way
affecting the liability of the Maker, or any endorsers, or any Guarantors.

         In addition to other rights and remedies (including, without
limitation, other rights of setoff), the Holder shall have a lien upon and
right of setoff against all monies, securities and other property of the Maker
or any Guarantor now or hereafter in the possession of or on deposit with the
Holder, whether held in a general or special account or deposit, or for
safekeeping or otherwise, and every such lien and right of setoff may be
exercised without demand upon or notice to the Maker. No lien or right of
setoff shall be deemed to have been waived by any act or conduct on the part of
the Holder, or by any neglect to exercise such right of setoff or to enforce
such lien, or by any delay in so doing; and every right of setoff and lien
shall continue in full force and effect until such right of setoff or lien is
specifically waived or released by an instrument in writing executed by the
Holder.

         Nothing herein contained, nor in any instrument or transaction related
thereto, shall be construed or so operate as to require the Maker, or any
person liable for the payment of the loan made pursuant to this Note, to pay
interest in an amount or at a rate greater than the highest rate permissible
under applicable law. Should any interest or other charges paid by the Maker,
or any parties liable for the payment of the loan made pursuant to this Note,
result in the computation or earning of interest in excess of the highest rate
permissible under applicable law, then any and all such excess shall be and the
same is hereby waived by the Holder hereof, and all such excess shall be
automatically credited against and in reduction of the principal balance, and
any portion of said excess which exceeds the principal balance shall be paid by
the Holder hereof to the Maker and any parties liable for the payment of the
loan made pursuant to this Note, it being the intent of the parties hereto that
under no circumstances shall the Maker, or any parties liable for the payment
of the loan hereunder, be required to pay interest in excess of the highest
rate permissible under applicable law.

         Time shall be of the essence as to the Maker's obligations under this
Note.

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         If any provision or portion of this Note is declared or found by a
court of competent jurisdiction to be unenforceable or null and void, such
provision or portion of this Note shall be deemed stricken and severed from
this Note, and the remaining provisions and portions of this Note shall
continue in full force and effect.

         This Note may not be amended, extended, renewed, or modified, and no
waiver of any provision of this Note shall be effective except by an instrument
in writing executed by the Holder. Any waiver of any provision of this Note
shall be effective only in the specific instance and for the specific purpose
for which given.

         This Note is to be construed according to the applicable laws of the
State of Florida and the United States of America.

         THE MAKER AND THE HOLDER HEREBY KNOWINGLY, VOLUNTARILY AND
INTENTIONALLY WAIVE THE RIGHT EITHER HAVE TO A TRIAL BY JURY IN RESPECT TO ANY
LITIGATION BASED HEREON, OR ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS
NOTE, AND ANY AGREEMENT CONTEMPLATED TO BE EXECUTED IN CONJUNCTION HEREWITH, OR
ANY COURSE OF CONDUCT, COURSE OF DEALING, STATEMENTS (WHETHER VERBAL OR
WRITTEN) OR ACTIONS OF EITHER PARTY. THIS PROVISION IS A MATERIAL INDUCEMENT
FOR THE MAKER EXTENDING CREDIT TO THE HOLDER.


                                            --------------------------
                                            ROBERT PRESS

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