Exhibit 10.1


                        CAPITAL STOCK PURCHASE AGREEMENT

         CAPITAL STOCK PURCHASE AGREEMENT, dated February 24, 2004, by and
between Jeannine Karklins, the principal shareholder ("Shareholder") of Used Kar
Parts, Inc., a Florida corporation, (the "Company") maintaining a mailing
address at 20908 Raindance Lane, Boca Raton, Florida 33428 and Panetta Partners,
Ltd., maintaining a mailing address at 1275 First Avenue, Suite 296, New York,
New York 10021 (the "Purchaser").

                             BACKGROUND INFORMATION

         This Agreement sets forth the terms and conditions upon which Purchaser
is acquiring from the Shareholder and the Shareholder is selling and delivering
to the Purchaser, free and clear of all liabilities, obligations, claims, liens
and encumbrances, 2,000,000 shares of the Company's common stock, par value
$.001 per share (the "Shares").


                              OPERATIVE PROVISIONS

                                    ARTICLE 1

                           Purchase and Sale of Shares

         1.1 Shares to be Sold. Subject to the terms and conditions of this
Agreement, at the Closing referred to in Section 1.4 hereof, the Shareholder
shall sell and deliver to the Purchaser good, valid and marketable title to the
Shares, free and clear of all liabilities, obligations, claims, liens and
encumbrances, by duly giving the Company written, medallion guaranteed,
instructions to register the transfer of the Shares in such names as the
Purchaser directs, in the form annexed hereto as Exhibit A.

         1.2 Purchase Price of the Shares. The purchase price to be paid by the
Purchaser to the Company for the Shares shall be Three Hundred Eighty Six
Thousand Eight Hundred Dollars ($386,800) (the "Purchase Price").

         1.3 Payment of Purchase Price. Subject to the terms and conditions of
this Agreement, in reliance on the representations, warranties and agreements of
the Shareholder contained herein, and in consideration of the sale and delivery
of the Shares, the Purchaser shall pay the Purchase Price at the Closing by wire
transfer to a bank account designated by the Shareholder or by delivery of
immediately available funds to Jonathan D. Leinwand, attorney for the Seller, as
escrow agent to the account identified in Exhibit B.

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         1.4 Closing. The closing of the sale and purchase of the Shares shall
take place at such time and place as may be agreed to by the parties but no
later than February 24, 2004 (the "Closing"). At the Closing, the Shareholder
shall deliver the Shares to the Purchaser, with all requisite stock transfer
stamps or the funds therefore attached. Evidence that delivery has been made in
accordance with applicable law for uncertificated securities shall be delivered
to the Purchaser in the form annexed hereto as Exhibit C. Simultaneously with
such delivery, the Purchaser shall deliver the Purchase Price to the Shareholder
(or direct the escrow agent to release the funds to the Shareholder). Each party
shall be responsible for all fees and costs incurred by it or on its behalf in
connection with the negotiation of this Agreement and the Closing.

         If at the Closing the Shareholder shall fail to tender the Shares, or
if any of the conditions specified hereunder shall not have been fulfilled, the
Purchaser shall, at its option, be relieved of its obligations under this
Agreement without thereby waiving any rights it may have by reason of such
failure or non-fulfillment. If the Purchaser fails to close the transactions
herein contemplated for any reason other than a default or breach occasioned by
the Shareholder under the terms hereof, or a failure of performance of any of
the conditions recited in Article 2 below, the Shareholder's sole remedy shall
be retaining any deposit heretofore made by Purchasers, as liquidated damages.

                                    ARTICLE 2

                Representations and Warranties of the Shareholder

         The Shareholder represents, warrants and agrees as follows:

         2.1 Organization and Standing of the Company. The Company is a
corporation duly organized, validly existing and in good standing under the laws
of the State of Florida and has all requisite corporate power and authority to
own and operate its properties and to carry on its business as now conducted and
as proposed to be conducted.

         2.2 Authorization. When executed and delivered by the Shareholder, this
Agreement will constitute the valid and binding obligation of the Shareholder,
enforceable in accordance with its terms.

         2.3 Securities Exchange Act Reports. The Company has filed all of the
reports required to be filed by it pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934, as amended ("Exchange Act"). All reports filed
by the Company pursuant to Section 13 or 15(d) of the Exchange Act are true and
correct and contain no material misstatements or omissions.

         2.4 Consent. No consent, approval or authorization of or registration,
qualification, designation, declaration or filing with any governmental
authority or private person or entity on the part of the Shareholder or the
Company is required in connection with the execution and delivery of this
Agreement or the consummation of any other transaction contemplated hereby,
except as shall have been duly taken or effected prior to the Closing.

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         2.5 Number of Issued and Outstanding Shares; Title to Shares. As of the
date of execution hereof, there are 2,068,000 shares of common stock issued and
outstanding and no shares of preferred stock issued and outstanding. The Shares
are free and clear of all liens, claims, encumbrances and restrictions, legal or
equitable, of every kind, except for certain restrictions on transfer imposed by
federal and state securities laws. The Shareholder has full and unrestricted
legal right, power and authority to sell, assign and transfer the Shares to
Purchaser without obtaining the consent or approval of any other person or
governmental authority, and the delivery of such Shares to Purchaser pursuant to
this Agreement will transfer valid title thereto, free and clear of all liens,
encumbrances, claims and restrictions of every kind, except for certain
restrictions on transferability imposed by federal and state securities laws.
The execution of this Agreement and the consummation of the transactions
contemplated hereby will not constitute a default under any provision of any
agreement by which the Shareholder or Company is bound.

         2.6 Compliance with Laws. The Company is and will be at Closing in
compliance with all applicable federal, state and local laws and the Company is
current in all of its reports required to be filed pursuant to Section 13 or
15(d) of the Securities Exchange Act of 1934, as amended.

         2.7 Litigation. Except as otherwise disclosed in the Company's reports
filed pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934, as
amended, the Company is not a party or is not threatened to be made a party to
any action, suit, proceeding, hearing, or investigation of, in, or before any
court or agency of any federal, state or local jurisdiction or before any
arbitrator.

         2.8 Absence of Operations; Absence of Liabilities. The Company has no
present business operations, and no debts, liabilities or obligations, whether
accrued or fixed, absolute or contingent, matured or unmatured or determined or
determinable, including, without limitation, tax liabilities and interest due or
to become due.

         2.9 Taxes.

                  (i) All federal, state, local and foreign tax returns and
                  reports required to be filed to date, and which are properly
                  open for examination under applicable statutes of limitation,
                  with respect to the operation of the Company have been
                  accurately prepared and duly filed, and all taxes shown as
                  payable on such returns and report have been paid when due,
                  including, without limitation income, withholding, payroll,
                  sales and use, and real and personal property taxes; and

                  (ii) The Company has not executed or filed with any taxing
                  authority any agreement extending the period for assessment or
                  collection of any tax to a date subsequent to the date hereof;
                  and

                  (iii) No issue has been raised by any federal, state, local or
                  foreign taxing authority in connection with an audit or
                  examination of the tax returns, business or properties of the
                  Company that has not been settled or resolved; and

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                  (iv) There is no pending claim, asserted deficiency or
                  assessment for additional taxes that has not been paid, nor is
                  there any basis for the assertion of any such claim,
                  deficiency, or assessment; and


                  (v) No material special charges, penalties or fines have ever
                  been asserted against the Company with respect to payment of
                  or failure to pay any taxes.

         2.10 Employees and Consultants. The Company currently has neither
consulting or employment agreements, nor other material agreements, either
written or oral, with individual consultants or employees to which the Company
is a party. The Company is not a party to any pension, retirement, profit
sharing, bonus, incentive, deferral compensation, group health insurance or
group life insurance plan or obligation.

         2.11 Leases. Schedule 2.11 attached hereto, contains an accurate and
complete list and description of the terms of all leases to which either the
Company or any of its subsidiaries is a party (as lessee or lessor). Each lease
set forth on Schedule 2.11 (or required to be set forth on Schedule 2.11) is in
full force and effect; all rents and additional rents due to date on each such
lease have been paid; in each case, the lessee has been in peaceable possession
since the commencement of the original term of such lease and is not in default
thereunder and no waiver, indulgence or postponement of the lessee's obligations
thereunder has been granted by the lessor; and there exists no event of default
or event, occurrence, condition or act (including the consummation of the
transactions contemplated hereby) which, with the giving of notice, the lapse of
time or the happening of any further event or condition, would become a default
under such lease. Neither the Company nor any of its subsidiaries has violated
any of the terms or conditions under any such lease in any material respect,
and, to the best knowledge, information and belief of the Company, all of the
covenants to be performed by any other party under any such lease have been
fully performed. The property leased by the Company or any of its subsidiaries
is in a state of good maintenance and repair and is adequate and suitable for
the purposes for which it is presently being used.

         2.12 Material Contracts. Except as set forth on Schedule 2.12 attached
hereto, neither the Company or its subsidiaries has nor is bound by:

         (a)      any agreement, contract or commitment relating to the
                  employment of any person by the Company or its subsidiaries,
                  or any bonus, deferred compensation, pension, profit sharing,
                  stock option, employee stock purchase, retirement or other
                  employee benefit plan;

         (b)      any agreement, indenture or other instrument which contains
                  restrictions with respect to payment of dividends or any other
                  distribution in respect of its capital stock;

         (c)      any loan or advance to, or investment in, any individual,
                  partnership, joint venture, corporation, trust, unincorporated
                  organization, government or other entity (each a "Person") or
                  any agreement, contract or commitment relating to the making
                  of any such loan, advance or investment;

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         (d)      any guarantee or other contingent liability in respect of any
                  indebtedness or obligation of any Person (other than the
                  endorsement of negotiable instruments for collection in the
                  ordinary course of business);

         (e)      any management service, consulting or any other similar type
                  contract;

         (f)      any agreement, contract or commitment limiting the freedom of
                  the Company or any subsidiary to engage in any line of
                  business or to compete with any Person;

         (g)      any agreement, contract or commitment not entered into in the
                  ordinary course of business which involves $10,000 or more and
                  is not cancelable without penalty or premium within 30 days;
                  or

         (h)      any agreement, contract or commitment which might reasonably
                  be expected to have a potential adverse impact on the business
                  or operations of the Company or any subsidiary; or

         (i)      any agreement, contract or commitment not reflected in the
                  Financial Statement under which the Company or any subsidiary
                  is obligated to make cash payments of, or deliver products or
                  render services with a value greater than $5,000 individually
                  or $10,000 in the aggregate, or receive cash payments of, or
                  receive products or services with a value greater than $5,000
                  individually or $10,000 in the aggregate, and any other
                  agreement, contract or commitment which is material to the
                  conduct of the business of the Company.

         Each contract or agreement set forth on Schedule 2.12 (or not required
to be set forth on Schedule 2.12) is in full force and effect and there exists
no default or event of default or event, occurrence, condition or act (including
the consummation of the transactions contemplated hereby) which, with the giving
of notice, the lapse of time or the happening of any other event or condition,
would become a default or event of default thereunder. Neither the Company or
any subsidiary has violated any of the terms or conditions of any contract or
agreement set forth on Schedule 2.12 (or not required to be set forth on
Schedule 2.12) in any material respect, and, to the best knowledge, information
and belief of the Company, all of the covenants to be performed by any other
party thereto have been fully performed. Except as set forth on Schedule 2.12,
the consummation of the transactions contemplated hereby does not constitute an
event of default (or an event, which with notice or the lapse of time or both
would constitute a default) under any such contract or agreement.

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         2.13     Employee Benefit Plans.

         (a)      Schedule 2.13 contains a true and complete list and accurate
                  description of each employee welfare benefit plan (an
                  "Employee Welfare Plan"), as defined in Section 3(1) of the
                  Employee Retirement Income Security Act of 1974, as amended
                  ("ERISA"), maintained currently or at any time by the Company
                  or any other organization which as of the Closing Date is a
                  member of a controlled group of organizations within the
                  meaning of Section 414(b), (c), (m) or (o) of the Internal
                  Revenue Code of 1986, as amended, (the "Code"), of which the
                  Company is a member (an "ERISA Affiliate"), or to which the
                  Company or any ERISA Affiliate contributes or is required to
                  contribute or contributed or was required to contribute at any
                  time. Schedule 2.13 contains a true and complete list and
                  accurate description of each employee pension benefit plan, as
                  defined in Section 3(2) of ERISA (an "Employee Pension Plan"),
                  maintained currently or at any time by the Purchaser or any
                  ERISA affiliate or to which the Company or any ERISA Affiliate
                  contributes or is required to contribute or contributed or was
                  required to contribute at any time. The Employee Welfare
                  Plans, the Employee Pension Plans and the other plans listed
                  on Schedule 2.13 are collectively referred to herein as the
                  "Plans." Neither the Company nor any ERISA Affiliate has
                  maintained at any time, nor does it contribute to or has it
                  contributed to or is or was required to contribute to: (i) any
                  multi-employer plan (as defined in Section 3(37) of ERISA); or
                  (ii) any funded or unfunded medical, health or life insurance
                  plans or arrangements for current or future retirees or
                  terminated employees.

         (b)      With respect to each current Plan, the Purchaser has been
                  provided heretofore with true and complete copies of: (i) all
                  Plan documents and all documents or instruments establishing
                  or constituting any related trust, annuity contract or other
                  funding instrument, and any amendments thereto; (ii) the most
                  recent determination letter received from the IRS; (iii) the
                  most recent financial statement; (iv) the most recent IRS Form
                  5500; and (v) written descriptions of all non-written
                  agreements relating to the Plans. All current Plans, all Plan
                  documents and all documents or instruments establishing or
                  constituting any related trust, annuity contract or other
                  funding instrument, and any amendments thereto, comply in all
                  material respects with the provisions of ERISA and the Code
                  and applicable laws, rules and regulations. All necessary
                  governmental approvals for all current Plans have been
                  obtained and favorable determinations as to the qualification
                  under the Code of each of the current Plans, and for any Code
                  Section 501(c)(9) trust maintained in connection with any
                  current Employee Welfare Plan, and each amendment thereto,
                  have been made by the IRS, or have been applied for and no
                  event has occurred and no facts or circumstances exist that
                  may cause the loss of any such qualification or may cause any
                  such application to be denied.

         (c)      Except as set forth on Schedule 2.13, the administration of
                  all Plans has been consistent with, and in compliance in all
                  material respects with, applicable requirements of the Code
                  and ERISA, including, without limitation, compliance on a

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                  timely basis with all requirements for reporting, disclosure
                  and requirements for the continuation of group health
                  insurance. Neither the Company, any ERISA Affiliate nor any
                  Plan fiduciary (as defined in Section 3(21) of ERISA), with
                  respect to any Plan, has engaged in any transaction or acted
                  or failed to act in any manner that violates Section 404 or
                  406 of ERISA or engaged in any prohibited transaction (as
                  defined in Section 4975(c)(1) of the Code) for which there
                  exists neither a statutory nor regulatory exemption or for
                  which an exemption has not been obtained. All obligations
                  required to be performed by the Company or any ERISA Affiliate
                  under each Plan have been performed, and the Company is not in
                  violation of the terms of any Plan, nor does the Company have
                  any knowledge of any existing violation by any other party of
                  any term or requirement of or applicable to any current Plan.
                  All contributions required by law to have been made under any
                  Plan, or to any trusts or funds established thereunder or in
                  connection therewith, have been made by the due dates thereof
                  (including any valid extensions).

         (d)      No claims, suits or other proceedings are pending or
                  threatened, and no facts or circumstances exist that could
                  provide a basis for any such claim, suit or other proceeding,
                  by the Company's or any ERISA Affiliate's current or former
                  employees, any participant (as defined in Section 3(7) of
                  ERISA) to any Plan maintained at any time by the Company or
                  any ERISA Affiliate to which the Company contributes or has
                  contributed or is or was required to contribute, any fiduciary
                  of any Plan, any beneficiary (as defined in Section 3(8) of
                  ERISA) of any such person or by any governmental body, agency
                  or instrumentality thereof relating to or affecting any Plan,
                  other than usual and ordinary claims for benefits by eligible
                  persons. Neither the execution and delivery of this Agreement
                  nor the consummation of the transactions contemplated hereby
                  will constitute: (i) a termination of employment or other
                  event entitling any person to any additional or other
                  benefits, or that would otherwise modify any benefits or the
                  vesting of any benefits, under any Plan maintained at any time
                  by the Company or any ERISA affiliate, or to which the Company
                  or any ERISA Affiliate contributes or has contributed or is or
                  was required to contribute; or (ii) a violation of Section 404
                  or 406 of ERISA or a prohibited transaction (as defined in
                  Section 4975(c)(1) of the Code) for which there exists neither
                  a statutory nor regulatory exemption or for which an exemption
                  has not been obtained.

         (e)      Neither the Company nor any ERISA Affiliate maintains any
                  Plans that are subject to the requirements of Section 412 of
                  the Code.

         2.14 Environmental Laws and Regulations.

         (a)      Neither the Company nor any of its subsidiaries has generated,
                  transported or disposed of any hazardous material (defined
                  below) during the past three years.

         (b)      Neither the Company nor any of its subsidiaries has Hazardous
                  Materials at any site or facility owned or operated presently
                  or at any previous time by the Company or any of its
                  subsidiaries.

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         The Company and its subsidiaries are in compliance in all material
respects with all applicable federal, state and local laws and regulations
relating to product registration, pollution control and environmental
contamination including, but not limited to, all laws and regulations governing
the generation, use, collection, discharge, or disposal of Hazardous Materials
and all laws and regulations with regard to record keeping, notification and
reporting requirements respecting Hazardous Materials. Neither the Company nor
any of its subsidiaries has been alleged to be in violation of, and has not been
subject to any administrative or judicial proceeding pursuant to, such laws or
regulations either now or any time during the past three years. There are no
facts or circumstances which the Company reasonably expects could form the basis
for the assertion of any Environmental Claim (as defined below) against the
Company or any of its subsidiaries relating to environmental matters including,
but not limited to, any Environmental Claim arising from past or present
environmental practices asserted under CERCLA (as defined below) and RCRA (as
defined below), or any other federal, state or local environmental statute,
which the Company believes might have an adverse effect on the business, results
of operations, financial condition or prospects of the Company and its
subsidiaries taken as a whole.

         For purposes of this Section 2.14, the following terms shall have the
following meanings: (A) "Hazardous Materials" shall mean materials defined as
"hazardous substances", "hazardous wastes" or "solid wastes" in (i) the
Comprehensive Environmental Response, Compensation and Liability Act of 1980, 42
U.S.C. ss.ss. 9601--5657, and any amendments thereto ("CERCLA"); (ii) the
Resource Conservation and Recovery Act, 42 U.S.C. ss.ss.6901-6987 and any
amendments thereto ("RCRA"); and (iii) any similar federal, state or local
environmental statute; and (B) "Environmental Claim" shall mean any and all
claims, demands, causes of actions, suits, proceedings, administrative
proceedings, losses, judgments, decrees, debts, damages, liabilities, court
costs, attorneys' fees and any other expenses incurred, assessed or sustained by
or against the Company.

                                    ARTICLE 3

           Representations, Warranties and Covenants of the Purchaser

         The Purchaser represents and warrants to, and covenants with, the
Company as follows:

         3.1 Authorization. When executed and delivered by the Purchaser, this
Agreement will constitute the valid and binding obligations of the Purchaser,
enforceable in accordance with their respective terms.

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         3.2 No Contractual Violation. Neither the execution, delivery nor
performance of this Agreement by the Purchaser, including the consummation by
the Purchaser of the transactions contemplated hereby, will constitute a
violation of or a default under, or conflict with, any term or provision of the
any contract, commitment, indenture or other agreement, or of any other private
restriction of any kind, to which the Purchaser is a party or by which it is
otherwise bound.

         3.3 Access to Information. Purchaser has had access to all material and
relevant information concerning the Company, its management, financial
condition, capitalization, market information, properties and prospects
necessary to enable Purchaser to make an informed investment decision with
respect to its investment in the Shares, Purchaser acknowledges that it has had
the opportunity to ask questions of and receive answers from and to obtain
additional information from the Company or its representatives concerning the
terms and conditions of the acquisition of the Shares and the present and
proposed business and financial condition of the Company and has had all such
questions answered to its satisfaction and has been supplied all information
requested.

         3.4 SEC Reports. Purchaser acknowledges that it has been provided with
and has carefully reviewed a copy of the Company's periodic reports and
registration statements filed with the Securities and Exchange Commission since
January 1, 2003 (the "SEC Reports").

         3.5 Financial Matters and Sophistication. Purchaser has such knowledge
and experience in business and financial matters, such that it is capable of
evaluating the merits and risks of purchasing the Shares. Purchaser represents
that it is an "accredited investor," as such term is defined in Rule 501 under
the Securities Act.

         3.6 Investment Intent. (i) Purchaser is acquiring the Shares for its
own account and not on behalf of any other person; (ii) Purchaser is acquiring
the Shares for investment and not with a view to distribution or with the intent
to divide its participation with others by reselling or otherwise distributing
the Shares; and (iii) Purchaser will not sell the Shares without registration
under the Act and any applicable state securities laws, or unless the Company
receives an opinion of counsel reasonably acceptable to it (as to both counsel
and the opinion) to the effect that such registration is not necessary.

         3.7 Understanding of Investment Risks. An investment in the Shares
should not be made by a purchaser who cannot afford the loss of its entire
Purchase Price. The Purchaser acknowledges that the securities offered hereby
have not been approved or disapproved by the Securities and Exchange Commission,
or any state securities commission, nor has the Securities and Exchange
Commission or any state securities commission passed upon the adequacy or
accuracy of this Capital Stock Purchase Agreement. Prior to making an investment
in the Shares, the Purchaser has fully considered, among other things, the risk
factors enumerated in the Company's filings with the Securities and Exchange
Commission, and acknowledges that these risk factors have been considered prior
to making this investment decision.

         3.8 Understanding the Nature of Securities. Purchaser understands that:

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         (a) The Shares have not been registered under the Act or any state
securities laws and are being issued and sold in reliance upon certain of the
exemptions contained in the Act and under applicable state securities laws.

         (b) The Shares are "restricted securities" as that term is defined in
Rule 144 promulgated under the Act.

         (c) The Shares cannot be sold or transferred without registration under
the Act and applicable state securities laws or unless the Company receives an
opinion of counsel reasonably acceptable to it (as to both counsel and the
opinion) that such registration is not necessary.

         (d) The Shares and any certificates issued in replacement therefor
shall bear the following legend in addition to any other legend required by law
or otherwise:

         "THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN
         REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. THE SECURITIES
         REPRESENTED BY THIS CERTIFICATE HAVE BEEN TAKEN BY THE REGISTERED OWNER
         FOR INVESTMENT AND WITHOUT A VIEW TO RESALE OR DISTRIBUTION THEREOF,
         AND MAY NOT BE TRANSFERRED OR DISPOSED OF WITHOUT AN OPINION OF COUNSEL
         SATISFACTORY TO THE ISSUER THAT SUCH TRANSFER OR DISPOSITION DOES NOT
         VIOLATE THE SECURITIES ACT OF 1933, AS AMENDED, OR THE RULES AND
         REGULATIONS THEREUNDER."

         (e) Only the Company can register the Shares under the Act and
applicable state securities laws.

                                    ARTICLE 4

                       Additional Agreements and Covenants

         The parties further agree and covenant as follows:

         4.1 Delivery of Additional Instruments on Request. Each party agrees to
execute and deliver or cause to be executed and delivered at the Closing, and at
such other times and places as shall be reasonably agreed to, such additional
instruments as the other party may reasonably request for the purpose of fully
effecting the transactions herein contemplated.

         4.2 Preservation of Organization; No New Issuance. The Shareholder
shall cause the Company to use its best efforts to preserve the business
organization of the Company intact, to operate prudently and in the ordinary
course, and to maintain its goodwill. The Company will not issue any additional
shares of stock between the execution hereof and Closing.

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         4.3 Agreements as to Conditions. Each party agrees to use its best
efforts to satisfy each and every of the conditions set forth in Sections 6. and
7., respectively, of this Agreement.

         4.4 No Broker. Seller and Purchaser represent and warrant that there
are no brokers, salespersons or finders involved in this transaction. Seller and
Purchaser agree to defend, indemnify and hold each other harmless from and
against any and all expense, costs, damage or liability (including, without
limitation, court costs and actual reasonable attorney fees, in preparation for
and at any arbitration proceeding, trial and/or appeal) resulting from the
claims for any brokerage fees or similar commissions asserted by brokers,
salespersons or finders claiming by, through or under the indemnifying party.

         4.5 Confidentiality. Purchaser and the Shareholder will maintain in
confidence and the Company will cause the directors, officers, employees, agents
and advisors of the Company to maintain in confidence written, oral or other
information obtained in confidence from the other party regarding this
transaction or any other information unless such information is or becomes
publicly available through no fault of such party or the furnishing or use of
such information is required by or necessary or appropriate in connection with
legal proceedings.

         4.6 Public Announcements. The parties hereto agree that no disclosure
or public announcement with respect to this Agreement, or any transactions
contemplated by this Agreement, shall be made by any party hereto without the
prior written consent of the other party, which consent shall not be
unreasonably withheld. Notwithstanding the foregoing, upon the Closing the
parties shall issue a press release announcing the consummation of the
transactions contemplated hereby and thereafter the Company shall file a Form
8-K as required by Section 13 of the Securities Exchange Act of 1934.

                                    ARTICLE 5

                     Conditions to Closing by the Purchaser

         The obligation of the Purchaser to consummate the transactions herein
contemplated is subject to the satisfaction at or prior to the Closing of each
of the following conditions, and if the Purchaser shall not consummate such
transactions by reason of the failure of any of such conditions to be met as
herein provided, the Purchaser shall have no liability to the Company:

         5.1 Inspection Period. The Purchaser shall have until Closing in order
to satisfy itself that the Company have been accurately represented to the
Purchaser (the "Inspection Period"). If at any time during this Inspection
Period the Purchaser determines not to proceed with the acquisition of the
Shares, the Purchaser shall so notify the Shareholder in writing and the
Purchaser shall have no obligation to the Shareholder, except as to the
confidentiality provisions set forth herein.

         5.2 Truthfulness of Representations and Warranties. Each of the
representations and warranties of the Shareholder contained in this Agreement
shall be true and correct to the best knowledge of the Shareholder as of the
Closing with the same effect as though such representations and warranties had
been made on and as of such date. Each such representation and warranty shall
survive the consummation of the transactions contemplated by this Agreement and
shall remain in full force and effect thereafter.

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         5.3 Performance. Each of the agreements of the Shareholder to be
performed or complied with at or before the Closing pursuant to the terms hereof
shall have been duly performed or complied with.

         5.4 Consents. All consents to the consummation of the transactions
contemplated herein which are required in order to prevent a breach of, or a
default under, the terms of any agreement to which the Company is a party or is
bound shall have been obtained.

         5.5 No Litigation Threatened. No action or proceeding shall have been
instituted or, to the knowledge of the Company, shall have been threatened
before a court or other governmental body or by any public authority to restrain
or prohibit the transactions contemplated herein. No governmental agency or body
shall have taken any other action or made any request of the Purchaser or the
Company as a result of which the Purchaser deems it inadvisable to proceed with
the transaction.

                                    ARTICLE 6

                    Conditions to Closing by the Shareholder

         The obligation of the Shareholder to consummate the transactions herein
contemplated shall be subject to the satisfaction of the Shareholder on or prior
to the Closing of each of the following conditions, and if the Shareholder shall
not consummate such transactions by reason of the failure of any of such
conditions to be met as herein provided, the Shareholder shall have no liability
to the Purchaser:

         6.1 Truthfulness of Representations and Warranties. Each of the
representations and warranties of the Purchaser contained in this Agreement
shall be true and correct to the best knowledge of the Purchaser as of the
Closing with the same effect as though such representations and warranties had
been made on and as of such date. Each such representation and warranty shall
survive the consummation of the transactions contemplated by this Agreement and
shall remain in full force and effect thereafter.

         6.2 Performance. Each of the agreements of the Purchaser to be
performed or complied with on or before the Closing pursuant to the terms hereof
shall have been duly performed and complied with.

         6.3 No Litigation Threatened. No action or proceeding shall have been
instituted or, to the knowledge of the Purchaser, shall have been threatened
before a court or other governmental body or by any public authority to restrain
or prohibit the transactions contemplated herein. No governmental agency or body
shall have taken any other action or made any request of the Company or
Purchaser as a result of which the Company deems it inadvisable to proceed with
the transaction.

                                      -12-
<PAGE>

                                    ARTICLE 7

                            Miscellaneous Provisions

         7.1 Notices. All notices or other communications required or permitted
to be given pursuant to this Agreement shall be in writing and shall be
considered as properly given or made if hand delivered, mailed from within the
United States by certified or registered mail, or sent by prepaid telegram to
the applicable address appearing in the preamble to this Agreement, or to such
other address as either party may have designated by like notice forwarded to
the other party hereto. All notices, except notices of change of address, shall
be deemed given when mailed or hand delivered and notices of change of address
shall be deemed given when received.

         7.2 Binding Agreements; Assignability. Each of the provisions and
agreements herein contained shall be binding upon and inure to the benefit of
the personal representatives, heirs, devisees and successors of the respective
parties hereto and shall be assignable by the Purchaser without the prior
written consent of the Shareholder.

         7.3 Entire Agreement. This Agreement, and the other documents
referenced herein, constitute the entire understanding of the parties hereto
with respect to the subject matter hereof, and no amendment, modification or
alteration of the terms hereof shall be binding unless the same be in writing,
dated subsequent to the date hereof and duly approved and executed by each
party.

         7.4 Severability. Every provision of this Agreement is intended to be
severable. If any term or provision hereof is illegal or invalid for any reason
whatever, such illegality or invalidity shall not affect the validity of the
remainder of this Agreement.

         7.5 Headings. The headings of this Agreement are inserted for
convenience and identification only, and are in no way intended to describe,
interpret, define or limit the scope, extent or intent hereof.

         7.6 Governing Law. This Agreement shall be governed by and construed in
accordance with the laws of the State of Florida and the federal law of the
United States of America. Any legal suit, action or proceeding arising out of or
based upon this Agreement or the transactions contemplated hereby may be
instituted in the federal courts of the United States District Court for the
Southern District of New York (collectively, the "Specified Courts"), and each
party irrevocably submits to the non-exclusive jurisdiction of such Specified
Courts in any such suit, action or proceeding. Service of any process, summons,
notice or document by mail to such party's address set forth herein shall be
effective service of process for any suit, action or other proceeding brought in
any such Specified Courts. The parties irrevocably and unconditionally waive any
objection to the laying of venue of any suit, action or other proceeding in the
Specified Courts and irrevocably and unconditionally waive and agree not to
plead or claim in any such court that any such suit, action or other proceeding
brought in any such court has been brought in an inconvenient forum.

                                      -13-
<PAGE>

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

         7.8 Legal Fees and Costs. If a legal action is initiated by any party
to this Agreement against another, arising out of or relating to the alleged
performance or non-performance of any right or obligation established hereunder,
or any dispute concerning the same, any and all fees, costs and expenses
reasonably incurred by each successful party or his, her or its legal counsel in
investigating, preparing for, prosecuting, defending against, or providing
evidence, producing documents or taking any other action in respect of, such
action shall be the joint and several obligation of and shall be paid or
reimbursed by the unsuccessful party(ies).

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



                                             Purchaser

                                             Panetta Partners, Ltd.


                                             By: /s/ Gabrielle M. Cerrone
                                                --------------------------------
                                                Name:  Gabielle M. Cerrone
                                                Title: Managing Partner



                                             The Shareholder

                                             /s/ Jeannine Karklins
                                             -----------------------------------
                                             Jeannine Karklins

                                      -14-
<PAGE>

                                                                       Exhibit A


                             INSTRUCTION TO TRANSFER


TO:      Used Kar Parts, Inc.


FOR VALUE RECEIVED, the undersigned registered owner hereby instructs Used Kar
Parts, Inc. to register on its books Panetta Partners, Ltd. of 1275 First
Avenue, Suite 296, New York, New York 10021, whose taxpayer identification
number is ________, as registered owner of 2,000,000 shares of Common Stock now
registered in the name of the undersigned.




------------------------
Jeannine Karklins

February __, 2004


Signatures Guaranteed:



--------------------------------------
THE SIGNATURES MUST BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS,
STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN
AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM), PURSUANT TO S.E.C. RULE 17Ad
15.

                                      -15-
<PAGE>

                                                                       Exhibit B


                                Wire Instructions

Jonathan D. Leinwand, P.A.
Trust Account
Wachovia Bank NA
ABA 063000021
Account # 2000011114365


                                      -16-
<PAGE>

                                                                       Exhibit C

                              USED KAR PARTS, INC.
                              20908 Raindance Lane
                            Boca Raton, Florida 33428


February 24, 2004

Purchaser
Address



This statement is to inform you that Used Kar parts, Inc., a Florida Corporation
has registered the transfer of 2,000,000 shares to Panetta Partners, Ltd.. This
certifies that Panetta Partners, Ltd.is the record holder of 2,000,000 shares of
the common stock of Used Kar Parts, Inc., such shares shall be recorded in the
Company's stock ledger, no certificates will be issued, all shares will be
maintained in book entry form with the Company.

Very truly yours,




Jeannine Karklins, President, Treasurer, Secretary



                                      -17-