EXHIBIT 10.XX

 AGREEMENT FOR THE RENDERING OF SERVICES AND PRODUCT SALE


 By this private instrument, the parties, on one side, BANCO
 BRADESCO S.A., a financial institution of private law with head
 office in Cidade de Deus, municipality and county of Osasco, state
 of S o Paulo, with CGC/MF Corporate Taxpayer Registration no.
 60.746.948/0001-12, hereinafter referred to simply as "BRADESCO";
 and on the other side, AMERICAN BANK NOTE COMPANY GRAFICA E
 SERVICOS LTDA., a limited liability quota company, with head
 office in the city of Rio de Janeiro, state of Rio de Janeiro, at
 Rua Peter Lund no. 146, with CGC/MF Corporate Taxpayer
 Registration no. 33.113.309/0001-47, hereinafter referred to
 simply as "ABN", both by their undersigned legal representatives,
 have mutually agreed and contracted as follows:


 1.  PURPOSE:  The purpose of this Agreement is to regulate the
 parties' activities, as regards the rendering of printing services
 and similar to be effected by ABN, in favor of BRADESCO and its
 affiliated companies, such as they are currently rendered by
 GRAFICA BRADESCO LTDA., which, under the subscription agreement,
 signed with AMERICAN BANK NOTE GRAFICA E SERVICOS LTDA., had its
 activities transferred to the latter.


 1.1.  ABN and BRADESCO undertake to maintain the current system of
 service rendered by GRAFICA BRADESCO LTDA., the first remaining
 responsible for the total printing of the printing products and
 similar used by the latter, and the latter remaining responsible
 for continuing to order from the first the services which were
 performed by GRAFICA BRADESCO LTDA.

 2.  SERVICES:  ABN undertakes to make available to BRADESCO and
 its affiliated companies, machine time and labor required to
 perform the services which are ordered to same.

 2.1.  It is hereby set forth that the availability, subject matter
 of the above item, is based at least on the levels of production
 capacity currently existing in GRAFICA BRADESCO LTDA. and already
 confirmed by ABN.

 3.  PRICES: Within 90 (ninety) days subsequent to July 1st. 1995,
 the prices to be used by ABN shall be calculated identically to
 those which were being charged by GRAFICA BRADESCO LTDA. and
 already confirmed by ABN, including as regards their form of
 adjustment, namely, based on the ISF (Form Sector Index)
 variation which is monthly published by ABVIGRAF/ABRAFORM.

 Since they are products of greater impact, those appearing in
 annex I had their costs and sale price calculated jointly by
 BRADESCO and ABN, taking as a basis the month of May 1995, both
 parties having agreed thereon, same having only to be adjusted by
 the ISF up to the beginning of the validity hereof.

 3.1.  From the ninety-first (91st.) day up to the one hundred and
 eightieth (180th.) day, counting from July 1st., 1995, the cost
 schedules shall be the subject matter of a parallel evaluation,
 jointly effecxted by the parties involved, having as a comparative
 basis the flowcharts of GRAFICA BRADESCO LTDA. and ABN, it being
 certain that any differences shall be analyzed and adjusted by the
 parties' mutual agreement.

 3.2.  From the one hundred and eighty first (181st.) day, provided
 the cost flowcharts are already unified, ABN shall start to adopt
 one sole flowchart to be prepared on the basis of what was
 ascertained in the period indicated in item 3.1 hereof.

 3.3  Contrary to other items, the checkbooks shall have their sale
 prices adjusted in the following proportion:
 40% (forty percent) RAW MATERIAL: the prices used by Champion
 Papel e Celulose for the sale of 90 gr.me Cham-Xek paper shall be
 used as a parameter.

 60% (sixty percent) LABOR: based on salary changes resulting from
 the printers' annual collective bargain or from any interim
 collective agreements.

 3.4  Upon the adjustment resulting from increase in labor cost,
 ABN shall grant BRADESCO a discount of 4.89% representing salary
 advances already effected by GRAFICA BRADESCO LTDA., whose value,
 for purpose of setting the price of the  20-sheet checkbook, was
 already allocated.  NOTE: 4.89 = 3% (February) + 5% (May) = 8.15%
    60% of 8.15% = 4.89%.

 4.  SAFEGUARDS:  In order to maintain the prices of the printing
 products and similar, to be acquired from ABN, within the market
 parameters, BRADESCO and its affiliated companies may, as of
 7/1/96, request budgets to other printing companies, regardless of
 prior consultation to ABN.

 4.1.  Said budgets shall be requested to no less than six
 qualified printing industries and in the same amounts as those
 regularly acquired by BRADESCO and its affiliated companies.

 4.2.  In the event that the average prices obtained are lower than
 those used by ABN, the parties, by mutual agreement, may align
 them.

 4.3.  In case of disagreement, BRADESCO and its affiliated
 companies may, at their sole discretion, accept or refuse the
 prices used by ABN.

 4.4  If  BRADESCO and its affiliated companies do not agree with
 the price offered by ABN, the product in question may be acquired
 from other companies of the printing field.

 5.  TAXES:  In case of new taxes, as well as of any change in the
 rates of those currently existing, applied to the sale price used
 by ABN, same may be passed on to the purchasers of its products or
 to the beneficiaries of the services rendered.

 6.  SPECIAL CONDITIONS OF DELIVERY OF GOODS:  Whenever the
 transport of products acquired by BRADESCO and its affiliated
 companies requires security measures for their delivery, same must
 be performed by a specialized company, selected by the
 parties' mutual agreement, under the condition of previously
 contracting insurance against robbery or theft, loss or any other
 reason which prevents the goods to arrive at their final receiver.
 The insurance agreements, having BRADESCO and its affiliated
 companies as beneficiaries, shall guarantee the full price of the
 product replacement.

 7.  FREIGHT: Provided the purchase of goods is destined for Cidade
 de Deus, the Transport Department (Osasco/SP) and Nucleo
 Alphaville (Barueri/SP), the freight shall be included in the
 price of said goods. The same applies to all goods that are taken
 by BRADESCO and its affiliated companies at ABN's industrial
 premises.

 8.  PRICE ADJUSTMENT:  As an adjustment factor, it shall be
 adopted the same index currently used by Grafica Bradesco Ltda.,
 in its operations of sale to BRADESCO and its affiliated
 companies, namely ISF (Form Sector Index) monthly published by
 ABIGRAF/ABRAFORM, which shall be applied to the prices of
 continuous forms, plain forms, envelopes, reels, and other
 printing products made from paper, except for credit cards, stamps
 and other items which use different raw material.

 8.1.  The utilization of the ISF index does not apply to the
 checkbooks whose price shall be adjusted pursuant to item 3.3.

 9.  INVOICING AND PAYMENT TERMS: The products acquired shall be
 delivered by ABN accompanied by their respective Invoices/Tax
 Invoices, whose payment shall be effected upon credit to the
 checking account opened solely for said purpose at BANCO BRADESCO
 S.A., within 7 (seven) days from receipt, and provided the goods
 are deemed to be in good condition and according to the order
 placed by BRADESCO and its affiliated companies.

 10.  RESPONSIBILITIES: ABN shall notify BRADESCO and its
 affiliated companies of any loss, even though partial or of small
 amount of the products acquired, within no later than 24 (twenty-four) hours,
counting from the occurrence of said event, informing
 in writing of all actions taken to ascertain the fact and any
 responsible parties.

 10.1  Upon being notified of the occurrence, BRADESCO and its
 affiliated companies may, at their discretion, appoint
 representatives to follow up all actions which are being taken by
 ABN in order to clarify the fact.

 10.2  In case BRADESCO and its affiliated companies deem
 necessary, same are allowed,  regardless of any ABN's actions in
 course, to adopt any other actions which they may deem necessary
 to safeguard their interests, as well as their clients, said  fact
 not implying that ABN should interrupt the measures which it might
 be taking or cease to have responsibility for the event.

 10.3  ABN shall be responsible for the full replacement of lost or
 damaged products at no charges to BRADESCO and its affiliated
 companies.

 10.4  With regard to ABN's direct responsibility for security
 products, until ABN transfers itself out of the premises
 previously occupied by GRAFICA BRADESCO LTDA., same shall be
 restricted to those appearing in item 10.3 above and should be
 recovenanted as of the 25th. month of contractual validity,
 counting from July 1st., 1995.

 11.  CONTRACTUAL VALIDITY:  This agreement shall be binding on the
 parties solely if and when GRAFICA BRADESCO LTDA. becomes ABN's
 quotaholder, pursuant to the "subscription agreement" entered into
 by the first and by the current partners of the latter, at said
 agreement's date, which should occur on July 1st., 1995, thereafter
 becoming effective for a term of 48 (forty-eight) months.

 11.1  After  the 24th month of contractual validity, always counting
 from July 1st., 1995, the parties shall re-evaluate the agreement in
 effect. If there is no fact, duly proven, which may higher its
 continuity, same shall have maintained its initial 48-month validity.

 11.2  In the event of  a total or partial violation of  any clause
 of this contract, which may justify the rescission hereof, the
 affected party, by means of written notice, may request its
 rescission, which shall take place 60 (sixty) days after the
 confirmed receipt by the other party, provided, however, that the
 latter, within said period, shall not have remedied the fact which
 generated said request for rescission.

 12.  RESCISSION: Without detriment to the provision in item 11.2
 above, this agreement shall be lawfully rescinded and at any time
 in the following events, other than those provided for under the
 law:

 a)  If either party files for bankruptcy, enters into a
 composition with creditors, has its bankruptcy decreed, enters
 into insolvency or has its liquidation requested.

 b)  if ABN has its authorization to render the services contracted
 hereby disfranchised.

 c)  failure, by either party, to comply with any relevant
 obligation included herein.


 13.  TOLERANCE: The parties' omission of or tolerance towards
 requiring the strict compliance with the terms and conditions
 hereof shall not constitute novation or waiver,  nor shall affect
 their rights which may be exercised at any time.

 14.  ACTS OF GOD AND FORCE MAJEURE: Shall be excluded from both
 parties' responsibilities pursuant to art. 1.058 and its sole
 paragraph of the Brazilian Civil Code.

 15.  SAFEGUARD OF FILMS, PLATES AND ORIGINALS: If, for any reason,
 this agreement is interrupted or rescinded, ABN shall be
 responsible for the destruction of all graphic and printing
 materials in its possession which might allow their reproduction,
 mainly the security ones, assuming irrevocably and irreversibly
 the responsibility for all losses and damages which the ill-utilization of
same may cause to BRADESCO, its
 affiliated companies and clients, as well as to third parties, for
 the total amount which is ascertained in the appropriate
 proceedings.

 16. COURTS: The parties elect the courts of the city of S o Paulo,
 State of  S o Paulo, to hear any disputes arising herefrom.

 And, having thus agreed and covenanted, the parties sign this
 agreement in three counterparts, jointly with the two undersigned
 witnesses.


               Osasco, June 2, 1995


               BANCO BRADESCO S.A.


               AMERICAN BANK NOTE COMPANY
               GRAFICA E SERVICOS LTDA.


      Witnesses:
 (illegible signature)
 (illegible signature)