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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