|PROMISSORY
      NOTE
|---------------------



|May
      10,
      2005                                                                                                                                                                                                                                                                                 
      $35,000
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



|
|

|1. | Payment Terms. The Maker shall pay the principal together
      without interest (except as provided in section 4 hereinbelow) in one
      installment of $35,000 or by default until such date as the entire
      principal balance has been fully paid. The payment is due and payable to
      the Holder hereof on the occurrence of the sooner of (a) 30 (thirty) days
      from the date of a change in control of Mercosur Telephone & Telegraph
      Co., Inc., a Delaware corporation (or of its lawful successor) or (b) not
      later than July 29, 2005.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
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|  
|2. | Prepayment Permitted. The Maker shall have the right to
      prepay the unpaid principal thereon in whole or in part at any time at his
      option, without penalty before the date upon which the principal and
      interest hereon are due and payable to the Holder hereof.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|  
|3. | Security. This Note is the promissory note referred to in,
      and is secured by the collateral in that certain Pledge And Security
      Agreement and in that certain Common Stock Purchase Agreement of even
      dates herewith by and between the Maker, as pledgor, and the Holder, as
      pledgee (the "Pledge and Security Agreement"), and entitled to the
      benefits thereof.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|  
|4. | Default. If the Maker shall fail to make full payment
      hereunder within ten (10) calendar days of the date when due, or shall
      breach any other provisions hereof, or of that certain Pledge and Security
      Agreement, or upon the occurrence of an event of default under that
      certain Pledge and Security Agreement, the Holder of this Note shall have
      the right to accelerate this Note and to cause all of the unpaid principal
      of this Note to become immediately due and payable without notice or
      demand, and said unpaid principal shall bear interest from such date of
      default at the maximum rate permitted by law and compounded annually; it
      being agreed that interest not paid when due shall, at the option of the
      Holder hereof, be added to the principal and shall draw interest at the
      rate provided in this paragraph. Failure to exercise any option shall not
      constitute a waiver of any right of the Holder hereof to exercise the same
      in the event of any subsequent default.
|  
|5. | Collection Costs. In the event that suit be brought hereon to
      collect the Maker's obligation hereunder, or an attorney or solicitor be
      employed by Holder to compel Maker's payment of this Note, or any portion
      of the indebtedness evidenced hereby, or otherwise to enforce the Maker's
      obligations hereunder or under the Pledge and Security Agreement or any
      related documents, the Maker promises to pay all such reasonable expenses
      and attorneys' fees and disbursements, including all fees and costs
      incurred by the Holder of this Note on appeal and in connection with any
      bankruptcy proceeding.                                                                                                                                                                                                                                                                                                                                                                                                                  
|  
|6. | Waiver of Presentment, Notice, Etc. The Maker of this Note
      hereby waives presentment, protest and demand, notice of protest and
      demand, notice of dishonor and/or nonpayment, and specifically consents to
      waive notice of (a) any renewals or extensions of this Note, whether made
      in favor of the                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|  

Fintek
Promissory Note, May 10, 2005, Page 1 of 2

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|   | Maker or any other person or entities, (b) the release,
      addition, or substitution of all or any part of the security for the
      payment hereof, and (c) the release, addition, or substitution of any
      party directly or indirectly liable for the obligations and indebtedness
      represented hereby.                                                                                                                                                                                          
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|  
|7. | Governing Law. This Agreement shall be construed in
      accordance with, and governed by the substantive laws of, the State of New
      York, without reference to principles governing choice or conflicts of
      laws.                                                                                                                                                                                                                                                                                    
|  
|8. | No
      Waiver. The failure of the Holder of this Note at any time to require
      performance by the Maker of any one or more of the provisions of this Note
      shall not affect the right to require such performance at any time
      thereafter, nor shall the waiver by the Holder hereof of a breach of any
      term or provision of this Note be interpreted or held to be a waiver of
      any succeeding breach of such term or provision or as a waiver of the term
      or provision itself.
|  

IN WITNESS WHEREOF, the Maker has executed this
Note as of the day, month, and year first written above.



|RANDOLPH S.
      HUDSON("Maker")
      
      [NON-NEGOTIABLE FORM OF NOTE FOR SEC EDGAR FILING PURPOSES
      ONLY]
|---------------------------------------------------------------------------------------------------------------------



|_____________________________________________Randolph S.
      Hudson
|---------------------------------------------------------------------

Fintek
Promissory Note, May 10, 2005, Page 2 of 2

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