STOCK
      REPURCHASE AGREEMENT

     

    This
      Stock Repurchase Agreement (this “Agreement”) is made and entered into effective
      as of December 12, 2007, by and between Red Carpet Entertainment, Inc., a Nevada
      corporation (the “Company”), and Christopher Johnson and Lissa Johnson
      (collectively, the “Stockholder”). 

     

    WHEREAS,
      the Stockholder is the record and beneficial owner of a total of 20,707,500
      shares (the “Shares”) of the Company’s common stock (post- 8.25-for-1 forward
      stock split), par value $0.001 per share (the “Common Stock”);

     

    WHEREAS,
      the Board of Directors of the Company has approved a proposed short-form merger
      agreement (the “Other Agreement”), pursuant to which the Company shall merge
      with its wholly-owned subsidiary, which Venture Beverage Company, a Nevada
      corporation, previously merged into; and

     

    WHEREAS,
      the Stockholder desires to sell to the Company and the Company desires to
      purchase from Stockholder all of the Shares for an aggregate purchase price
      of
      Sixty Thousand U.S. Dollars (US$60,000.00) (the “Purchase Price”).

     

    NOW,
      THEREFORE, in consideration of the foregoing recitals and the mutual agreements
      set forth herein, the parties hereto agree as follows: 

     

    1. Purchase
      of Shares.
      Upon
      the terms and subject to the conditions set forth in this Agreement, at Closing,
      Stockholder shall sell, transfer and deliver to the Company, and the Company
      shall purchase and accept from Stockholder, all of the Shares, free and clear
      of
      any and all charges, mortgages, pledges, security interests, restrictions,
      claims, liens, encumbrances or exceptions to title of any kind (collectively,
      “Liens”). At the Closing, Stockholder shall deliver to the Company the
      certificate or certificates representing the Shares, duly executed for transfer,
      or accompanied by stock powers duly executed in blank (with a medallion
      guarantee or such other evidence of signature as the Company’s transfer agent
      may require) transferring the Shares to the Company.

     

    2. Payment
      of Purchase Price.
      At
      the
      Closing, the Company shall pay to Stockholder the Purchase Price in good and
      immediately available funds.

     

    3. Closing.
      Subject
      to the satisfaction or waiver of the conditions set forth in Section 5 of this
      Agreement (other than conditions with respect to actions to be taken at the
      Closing), the consummation of the transactions contemplated hereby (the
“Closing”) shall take place at the offices of the Company or at such other place
      as the parties may mutually agree, simultaneously with the consummation of
      the
      transactions contemplated by the Other Agreement or such other date as the
      parties may mutually agree (the “Closing Date”).

     

    4. Representations
      of Stockholder.
      The
      Stockholder represents and warrants to the Company, as of the date hereof and
      the Closing Date, that:

     

    a.    
       Stockholder
      has the legal capacity to execute, deliver and perform her obligations under
      this Agreement. This Agreement has been duly executed and delivered by
      Stockholder and is a valid and legally binding agreement of Stockholder
      enforceable against her in accordance with its terms.

     

    
      
         

      

      
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    b. 
Stockholder
      is the sole holder of record of the Shares, and is the beneficial owner of
      the
      Shares, free and clear of all Liens, and there exists no restriction on the
      transfer of the Shares to the Company. Stockholder shall deliver to the Company
      at Closing good and marketable title to the Shares free and clear of all
      Liens.

     

    c. 
Stockholder
      is not the record or beneficial holder of any shares of Common Stock other
      than
      the Shares.

     

    d. 
No
      action
      has been taken by Stockholder that would give rise to a claim against the
      Company for a brokerage commission, finder’s fee or other like payment with
      respect to the transactions contemplated by this
      Agreement.

     

    5. Conditions
      to Closing.

     

    a.
       
The
      obligations of Stockholder at Closing are subject to her receipt of the Purchase
      Price for the Shares.

     

    b. 
The
      obligations of the Company at Closing are subject to its receipt of the
      certificate or certificates evidencing the Shares, duly endorsed in blank or
      accompanied by duly executed stock powers, with a medallion guarantee or such
      other evidence of signature as the Company’s transfer agent may
      require.

     

    6. Governing
      Law.
      This
      Agreement shall be governed by, and construed in accordance with, the laws
      of
      the State of Nevada without regard to conflict-of-laws rules.

     

    7. Undertakings.
      Each of
      Stockholder and the Company hereby agrees to take whatever additional action
      and
      execute whatever additional documents may be reasonably necessary or advisable
      in order to carry out or effect one or more of the provisions of this Agreement,
      including a change by the Company of its corporate name.

     

    8. Counterparts.
      This
      Agreement may be executed in counterparts, each of which shall be deemed to
      be
      an original, but all of which together shall constitute one and the same
      instrument.

     

    [Signatures
      on Following Page]

     

    
      
         

      

      
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    IN
      WITNESS WHEREOF,
      the
      parties have executed this Stock Repurchase Agreement as of the day and year
      first indicated above.

     

    
      	 	 	 
	 	 	/s/ Christopher
              Johnson
	 	
              
Christopher
              Johnson


    

      

      	 	 	 
	 	 	/s/ Lissa
              Johnson
	 	
              
Lissa
              Johnson


    

    
       

      
        	 	 	 
	 	RED
                CARPET
                ENTERTAINMENT, INC.,
	 	a Nevada corporation
	 
 	 
 	 
 
	 	By:  	/s/ Christopher
                Johnson
	 	
                
Christopher
                Johnson,
                President

 

    

    
      
        
           

        

        
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