REVOLVING CREDIT PROMISSORY NOTE
                        --------------------------------


$15,000,000             Dated: May 12, 1999


     FOR  VALUE  RECEIVED,   the   undersigned,   Unidigital  Inc.,  a  Delaware
corporation  (the  "Borrower"),  HEREBY  PROMISES  TO PAY to the  order  of Bank
Austria Creditanstalt  Corporate Finance, Inc. (the "Lender") for the account of
its Applicable  Lending Office (as defined in the Credit  Agreement  referred to
below) the principal sum of FIFTEEN MILLION DOLLARS AND NO CENTS ($ 15,000,000 )
or, if less,  the aggregate  unpaid  principal  amount of the  Revolving  Credit
Advances owing to the Lender by the Borrower  pursuant to the Credit  Agreement,
dated as of May 12,  1999  (as  amended,  supplemented,  restated  or  otherwise
modified,  the "Credit  Agreement";  terms defined  therein being used herein as
therein  defined),  among the  Borrower,  the Lender and  certain  other  Lender
Parties thereto, Fleet Bank, N.A., as Initial Issuing Bank, Fleet Bank, N.A., as
Swing Line Bank, and Fleet Bank,  N.A., as  Administrative  Agent for the Lender
and the other Lender Parties, on the Revolving Credit Termination Date.

     The  Borrower  further  promises to pay  interest  on the unpaid  principal
amount of each Revolving  Credit Advance from the date of such Revolving  Credit
Advance until such principal  amount is paid in full, at such interest rates and
at such times as are specified in the Credit Agreement.

     Both  principal  and  interest  are  payable in lawful  money of the United
States of America to Fleet Bank, N. A., as  Administrative  Agent for the Lender
Parties,  at 1185  Avenue of the  Americas,  New York,  NY  10036,  Account  No.
1510352-03102, Attention: Loan Administration, in same day funds. Each Revolving
Credit Advance owing to the Lender by the Borrower and the maturity thereof, and
all  payments  made on account of  principal  thereof,  shall be recorded by the
Lender and, prior to any transfer  hereof,  endorsed on the grid attached hereto
or any continuation  thereof,  which is part of this Promissory Note;  provided,
however,  that the failure of such Lender to so record any such  information  or
any error in so  recording  any such  information  shall not limit or  otherwise
affect  the  obligations  of the  Borrower  hereunder  or under any  other  Loan
Document.

     This Promissory Note is one of the Notes referred to in, and is entitled to
the benefits of, the Credit Agreement. The Credit Agreement, among other things,
(i) provides for the making of  Revolving  Credit  Advances by the Lender to the
Borrower  from  time to time in an  aggregate  amount  not to exceed at any time
outstanding the U.S. dollar amount first above  mentioned,  the  indebtedness of
the Borrower  resulting from each such Revolving  Credit Advance being evidenced
by this Promissory  Note, and (ii) contains  provisions for  acceleration of the
maturity  hereof  upon the  happening  of  certain  stated  events  and also for
prepayments on account of principal hereof prior to the maturity hereof upon the
terms and conditions  therein  specified.  The obligations of the Borrower under
this  Promissory  Note, and the  obligations of the other Loan

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Parties under the Loan  Documents,  are secured by the Collateral as provided in
the Loan Documents.

     This  Promissory Note shall be governed by and construed in accordance with
the laws of the State of New York.

                                                 UNIDIGITAL INC.

                                                 By: /s/ William E. Dye
                                                    ----------------------------
                                                 Name: William E. Dye
                                                 Title: Chief Executive Officer



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               REVOLVING CREDIT ADVANCES AND PAYMENTS OF PRINCIPAL
               ---------------------------------------------------


        DATE        AMOUNT OF        AMOUNT OF        UNPAID        NOTATION
        ----        ---------        ---------        ------        --------
                    REVOLVING      PRINCIPAL PAID    PRINCIPAL       MADE BY
                    ---------      --------------    ---------       -------
                 CREDIT ADVANCE     OR PREPAID       BALANCE
                 --------------     ----------       -------







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