<PAGE>
 
                       SETTLEMENT AGREEMENT AND RELEASE
                       --------------------------------

     This Settlement Agreement and Release (Agreement) is made, entered into, 
and effective as of the 29th day of May, 1997 by and among Greystone
Communications, Inc., a California corporation ("Greystone"), on the one hand,
and American Artists Film Corporation, a Missouri corporation (American
Artists), on the other hand. Greystone and American Artists are sometimes
collectively referred to herein as the Settling Parties.

                                   RECITALS
                                   --------

     A.   On or about May 20, 1994 Greystone and American Artists entered into a
joint venture agreement ("Joint Venture Agreement".)

     B.   Pursuant to the Joint Venture Agreement, Greystone and American 
Artists co-produced two, two-hour television and home video programs.  The first
was entitled "Angels:  The Mysterious Messengers" ("Angels I") and the second 
was entitled "Angels II:  Beyond The Light" ("Angels II").  (Angels I and Angels
II shall be collectively referred to as the "Angels Programs".)

     C.   Both of the Angels Programs were licensed for initial network 
television exhibition by the National Broadcasting Company ("NBC").  The 1-800 
direct sales of the home videos of both Angels Programs were contracted to 
Calling Card, Inc.  ("CCI"); the foreign distribution of both Angels Programs 
was contracted to Alfred Haber Distribution, Inc.  ("Haber"); and the 
distribution of the home videos of Angels I (excluding 1-800 direct sales) was 
contracted to Time-Life Video ("Time-Life").
<PAGE>
 
Additionally, a companion book to Angels I ("Book") was published by Ballantine 
Books ("Ballantine").

     D.   Subsequent to the production of both Angels Programs and the 
publishing of the Book, certain disputes arose between the Settling Parties 
relating to, among other things, the amount of proceeds owed each of the 
Settling Parties from the exploitation of the Angels Programs by CCI, Haber and 
Time-Life, and of the Book by Ballantine.  Among other things, American Artists 
contended that the book was not subject to the Joint Venture Agreement, and 
Greystone contended that American Artists withheld in excess of $140,000 of 
monies appropriately belonging to Greystone.

     E.   As a result of these disputes, on or about May 1, 1995 Greystone
served a Demand for Arbitration with the American Arbitration Association
asserting claims for Breach of Contract, Breach of Fiduciary Duty, Fraud and
Accounting against American Artists. On or about May 26, 1995, American Artist
served a Counter Demand for Arbitration asserting counterclaims for Breach of
Contract, Breach of the Implied Covenant of Good Faith and Fair Dealing, Breach
of Fiduciary Duty, Accounting, and Declaratory Relief against Greystone. The
Demand for Arbitration and Counter Demand for Arbitration was assigned Case
No. 72 140 00455 95 and shall be referred to as the "Arbitration." Both American
Artists and Greystone have denied the claims of the other and asserted defenses
thereto.

     F.   It is the mutual intent of the Settling Parties to this Agreement to 
resolve all their known differences and settle all

                                      -2-
<PAGE>
 
their known disputes in the manner and on the terms and conditions set forth in 
this Agreement.

     NOW, THEREFORE, in consideration of the terms and conditions of this 
Agreement, and for good and valuable consideration, the Settling Parties agree 
and release each other as follows:

                            AGREEMENT AND RELEASES
                            ----------------------

     1.   The Settling Parties incorporate by this reference all the above 
recitals as part of their Agreement, as if set forth in full.

     2.   (a)  Commencing June 1, 1997 American Artists shall pay Greystone the 
total amount of One Hundred Forty Thousand Dollars ($140,000) ("Settlement 
Amount") payable over fourteen (14) months at the rate of Ten Thousand Dollars 
($10,000) per month as follows:

          Date                                    Payment
          ----                                    -------

          June 1, 1997                            $10,000.00

          July 1, 1997                            $10,000.00

          August 1, 1997                          $10,000.00

          September 1, 1997                       $10,000.00

          October 1, 1997                         $10,000.00

          November 1, 1997                        $10,000.00

          December 1, 1997                        $10,000.00

          January 1, 1998                         $10,000.00

          February 1, 1998                        $10,000.00

          March 1, 1998                           $10,000.00

          April 1, 1998                           $10,000.00

          May 1, 1998                             $10,000.00

                                      -3-

<PAGE>
 
          June 1, 1998                            $10,000.00

          July 1, 1998                            $10,000.00

     (b)  There is no pre-payment penalty should American Artists pay the 
$140,000 faster than at the rate of $10,000 per month. American Artists shall 
have the right to designate the allocation of any such early payment against any
future payment or payments it chooses. In the event that any monthly payment is 
not received by Greystone by the fifteenth (15th) day of the month, American 
Artists shall be in default of this Agreement and Greystone shall be entitled to
immediately have the stipulated arbitration award confirmed and entered as a 
judgment by the Los Angeles and Atlanta Superior Courts, all as provided in 
paragraph 3 below.

     3.   The Settlement Amount shall be secured by a stipulated arbitration 
award ("Award") in the amount of One Hundred Ninety Thousand Dollars ($190,000) 
in the form attached as Exhibit A hereto, as well as a stipulation for 
confirmation and entry of judgment ("Stipulation") in the form attached as 
Exhibit B hereto. The Award shall be signed by the arbitrator but not confirmed 
and entered until such time, if ever, that American Artists defaults in its 
payment of any portion of the Settlement Amount or any other payment required 
pursuant to paragraph 4 below. Should American Artists default, Greystone shall 
be entitled to immediately appear ex parte to have the Award confirmed and 
                                  --------
entered as a judgment against American Artists by the Los Angeles and Atlanta 
Superior Courts subject only to the right of American Artists to bring to the 
Court's attention in such ex parte proceeding(s) what it contends is the proper 
                          --------
amount

                                      -4-

<PAGE>
 
of the award and judgment if there is any dispute with respect to such amount. 
The amount of the Award shall be reduced automatically on a dollar for dollar 
basis for each payment made for all fourteen (14) months of the payment period. 
By way of example, if prior to default eight (8) of the $10,000 payments have 
been made, the amount of the Award shall be reduced automatically by $80,000 to 
a total of $110,000, and judgment shall be entered in the amount of $110,000, 
not $190,000. However, once the amount of the Award is reduced to Fifty Thousand
Dollars ($50,000) it shall be reduced no further until such time as the 
Settlement Amount and all other payments required pursuant to paragraph 4 below,
if any, have been made. Greystone's right to have the Award confirmed and 
entered as a Judgment shall be completely canceled, and American Artists' 
obligations relating to the Award completely discharged, and Greystone shall not
seek and covenants not to seek to have the Award confirmed and entered as a 
judgment thereon in any superior court once all fourteen (14) $10,000 payments 
have been made to Greystone. The sole exception to the immediately preceding 
sentence shall be in the event that the Award has been increased by unpaid 
amounts pursuant to paragraph 4 below which remain unpaid at the time the 
fourteenth payment is made. However, there shall be no residue of the Award 
based solely upon any paragraph 4 default(s) which occurs after the making of 
the fourteenth payment. In such event, Greystone shall be entitled to exercise 
all other remedies available under the law as to such Paragraph 4 default(s).

                                      -5-

<PAGE>
 
     4.   Effective immediately upon execution of this Agreement, Greystone 
shall be entitled to fifty percent (50%) of any and all additional gross 
revenues received by or credited to American Artists ("Gross Revenues") 
pertaining to the Angels Programs, including but not limited to, Gross Revenues 
from: (a) CCI; (b) Haber; (c) Time-Life; (d) Ballantine; (e) Turner Original 
Productions; and/or (f) any and all other sources of Gross Revenues whether 
presently existing or regarding which the Settling Parties agree in the future. 
This includes all Gross Revenues received by American Artists from any of the 
above sources at any time on or after January 1, 1997. Whenever additional Gross
Revenues (or an accounting statement without any Gross Revenues) are received by
American Artists from any of the sources listed in items (a) through (e) above, 
American Artists shall, the same day that the Gross Revenues are received, fax a
copy of the payment, as well as any accompanying accounting statement, to 
Greystone. American Artists shall then have ten (10) days to mail payment of 
Greystone's 50% share to Greystone. In the event that any such payment is not 
received by Greystone within twenty (20) days of the date that such payment was 
received by American Artists, the amount owed shall be increased by ten percent
(10%) and the total unpaid amount shall be added to the Award. The same
procedure shall also apply to Greystone in the event that it receives any Gross
Revenues from a source other than American Artists pertaining to the Angels
Programs at any time after January 1, 1997. Any new agreements with licensing
entities pertaining to the exploitation of the Angels Programs (or any sequels)
shall be mutually agreed to and

                                      -6-

<PAGE>
 
approved by the Settling Parties and shall provide that Greystone and American 
Artists shall each be paid their respective 50% interests in proceeds directly 
by the licensing entity.

     5.   (a)  Greystone shall be responsible for paying the full amount of the 
Screen Actors Guild ("SAG") residuals obligations as calculated by Cast & Crew, 
a copy of which is attached hereto as Exhibit C, at such time as payment is 
required in writing by SAG.

          (b)  Greystone and American Artists shall each be required to pay 
fifty percent (50%) of the principal amount only of all other SAG and all 
Directors Guild of America ("DGA") residuals obligations that have accrued or 
may accrue but have not been paid at the time of execution of this Agreement, on
both Angels Programs, if any, at such time as payment is requested in writing by
SAG and/or the DGA as applicable, except that American Artists shall not be 
required to pay any penalties, fines, damages, contributions, interest or other 
amounts of any nature (collectively "Other Amounts") on, in addition to, or in 
connection with those principal amounts should any Other Amounts become due or 
claimed by SAG, the DGA, or its fund administrators or auditors. Greystone shall
be solely and exclusively responsible for reporting to the DGA and SAG. 
Greystone shall further be solely and exclusively responsible for payment of any
residuals, contributions, claims or other obligations to the Writers Guild of 
America ("WGA") in connection with the Angels Programs.

                                      -7-

<PAGE>
 
          (c)  Greystone hereby agrees to indemnify and hold harmless American 
Artists from any and all claims, losses, causes of action, grievances, 
complaints, arbitrations, attorneys' fees, costs of defense, expenses or other 
detriment of whatever nature (including but not limited to the Other Amounts 
referred to in paragraph 5(b) above) incurred by, or alleged or sought against, 
American Artists in any threatened or actual proceeding by or involving any 
Guild, except as otherwise provided in this Agreement with respect to the 
principal amount of any SAG or DGA residuals.

     6.   Effective upon execution of this Agreement, the Releasing Parties (as 
defined in paragraph 8 below) shall not initiate contact with any Guild, 
including but not limited to the DGA and/or the WGA, for the purpose of 
specifically discussing (a) either or both of the Angels Programs or (b) the 
other Settling Party. However, nothing shall preclude any party from truthfully 
responding to a written or oral inquiry from a Guild which is limited to items 
(a) and/or (b) above, so long as the party responding to the inquiry promptly 
provides the other party with a copy of the Guild's written inquiry and the 
response. If any Guild orally inquires, the affected Settling Party shall 
request the Guild to put its inquiry in writing; if the Guild refuses to do so, 
the Settling Party, if it chooses to respond, shall respond in writing to the 
Guild's oral inquiry. In the event that the Guild demands an oral response, the 
Settling Party, if it chooses to respond, may respond to the Guild orally; but 
shall immediately thereafter put both the oral inquiry and the oral response in 
writing and provide it to the other Settling

                                      -8-

<PAGE>
 
Party.  Nothing herein shall require any of the Releasing Parties to take or not
take any action in violation of any collective bargaining agreement (or 
policies, manuals or rules promulgated thereunder) to which that Releasing Party
is a signatory, or with which it, he or she wishes to comply.

     7.   It is expressly understood and agreed that except as may be provided 
in this Agreement, the Provisions of the Joint Venture Agreement remain in full 
force and effect.

     8.   Except for the obligations specifically undertaken in this Agreement, 
Greystone and American Artists, for themselves and for each of their respective 
agents, employees, representatives, partners, parents, subsidiaries, affiliates,
predecessors, successors, assigns, stockholders, officers, directors, 
accountants, and attorneys, and each of them (the Releasing Parties), hereby 
fully release and discharge each other, and each of their respective agents, 
employees, representatives, partners, parents, stockholders, subsidiaries, 
affiliates, predecessors, successors, assigns, officers, directors, accountants,
and attorneys, and each of them (the Released Parties), of and from any and all 
claims, debts, demands, contracts, liabilities, damages, penalties and punitive 
damages, obligations, actions, costs (including costs of suit, attorneys' fees 
and expenses), and causes of action of any and every kind, nature, character, 
type or description, fixed or contingent ("Claims"), which the Releasing Parties
ever had, now have or may claim to have, or may hereafter have or claim to have 
against the Released Parties by reason of any act,

                                      -9-
<PAGE>
 
omission, occurrence or condition occurring or existing on or before the date of
this Agreement, including but not limited to the filing, prosecution, defense, 
and settlement of the Arbitration.

     9.   The Settling Parties hereby acknowledge and represent to each other 
that they have not assigned to any person or entity any right or obligation 
which would preclude or prevent the Settling Parties from performing all of 
their respective duties and obligations under the terms and conditions of this 
Agreement.

     10.  The Settling Parties hereby acknowledge, understand and agree that the
settlement and releases memorialized in this Agreement are compromises of 
disputed claims, and that the payment or acceptance of any monies, and the 
giving or receiving of any other consideration, by one of them to any other is 
not an admission of liability on the part of any of them, and is not to be 
construed as such. By this Agreement, liability of any of the parties is 
expressly denied by all Settling Parties to this Agreement.

     11.  All notices required or permitted to be sent under this Agreement 
shall be in writing by registered or certified mail, return receipt requested, 
and by telefax. Notice to Greystone shall be sent to Shinaan S. Krakowsky, 4705 
Laurel Canyon Boulevard, 5th Floor, Valley Village, California 91607. Notice to 
American Artists shall be sent to Joseph R. Taylor, Stein & Kahan, 1299 Ocean 
Avenue, Santa Monica, California 90401; and J. Eric Van Atta, 1245 Fowler Street
NW, Atlanta, Georgia 30318.

     12.  The Settling Parties acknowledge and represent to each other that they
have freely and voluntarily entered into this 

                                     -10-
<PAGE>
 
Agreement in reliance upon their own independent investigation and analysis of 
the facts underlying the subject matter of the Arbitration and this Agreement, 
including but not limited to the releases given in this Agreement, and that no 
warranties, representations or promises of any kind or nature have been made, 
directly or indirectly, to induce each of them to enter into this Agreement, 
other than those set forth in this Agreement and any side letter thereto.

     13.  The Settling Parties represent and warrant that each individual 
signing this Agreement on behalf of an entity has the right, power, legal 
capacity, and authority to do so, and that no further approval or consent of any
person, board of directors, or other entity is necessary.

     14.  This Agreement shall, in all respects, be interpreted, enforced and 
governed under and pursuant to the laws of the State of California, without 
regard to the laws pertaining to conflicts or choice of law principles.

     15.  The Settling Parties each acknowledge and agree that this Agreement 
was jointly prepared by each of them, and any uncertainty or ambiguity existing 
in this Agreement shall not be interpreted against any other party, if any 
uncertainty or ambiguity is found to exist.

     16.  Should any provision of this Agreement be subsequently held to be 
illegal, invalid, unenforceable under any present or future laws effective 
during the terms of this Agreement, such provisions shall be fully severable and
the remaining provisions of this Agreement shall be fully valid and enforceable;
and in lieu thereof, there shall be added a provision as similar in 

                                     -11-
<PAGE>
 
terms to such illegal, invalid or unenforceable provision as may be possible and
legal, valid and enforceable.

     17.  This Agreement may be executed in any number of counterparts and each 
such counterpart shall be deemed to be an original instrument.

     18.  Any disputes relating to, connected with or arising from the 
interpretation or enforcement of this Agreement shall be resolved by expedited 
arbitration before the American Arbitration Association office located in Los 
Angeles, California; and the Settling Parties hereby consent to the jurisdiction
and venue of that body for that purpose.

GREYSTONE COMMUNICATIONS, INC. AMERICAN ARTISTS FILM CORPORATION

By /s/ Shinaan S. Krakowksy                 By /s/ J. Eric Van Atta
  -------------------------------             -----------------------------
   Authorized Officer                          Authorized Officer

                                     -12-
<PAGE>
 
EXHIBIT A





<PAGE>
 
SHINAAN S. KRAKOWSKY
4705 Laurel Canyon Blvd., 5th Floor
Valley Village, California 916073
(818) 762-2900

Attorneys for Claimant and Counter-Respondent
GREYSTONE COMMUNICATIONS, INC.

JOSEPH R. TAYLOR
STEIN & KAHAN, A Law Corporation
1299 Ocean Avenue, 4th Floor
Santa Monica, California 90401
(310) 458-6900

Attorneys for Respondent and Counter-Claimant
AMERICAN ARTISTS FILM CORPORATION


                       AMERICAN ARBITRATION ASSOCIATION

                                  LOS ANGELES

IN THE MATTER OF ARBITRATION          )      Case No. 72 140 01455 95
BETWEEN                               ) 
                                      )      STIPULATION AND
GREYSTONE COMMUNICATIONS, INC., a     )      AWARD OF ARBITRATOR
California corporation,               )  
                                      )
     Claimant and Counter-Respondent, )
                                      )
            - and -                   )  
                                      )
AMERICAN ARTISTS FILM                 )
CORPORATION, a Georgia corporation,   )
                                      )
      Respondent and Counter-Claimant.)
_____________________________________ )


                                  STIPULATION
                                  -----------


     IT IS HEREBY STIPULATED AND AGREED by and between Claimant and Counter- 
Respondent Greystone Communications, Inc. (Greystone) and Respondent and 
Counter-Claimant American Artists Film Corporation (American Artists), through 
their respective undersigned counsel of record, that:



<PAGE>
 
     (1)  Greystone shall be and hereby is granted an award in its favor and 
against American Artists in the total amount of $190,000.00, which amount shall 
be reducible on a dollar for dollar basis down to zero dollars, as follows: Each
time American Artists timely pays Greystone its $10,000.00 monthly installment 
which installments commence June 1, 1997 and end July 1, 1998, the amount of the
award shall be reduced by each such $10,000.00 monthly payment up to and 
including a total reduction of $140,000.00, at which time this award shall be 
fully discharged subject to paragraph 2. In no circumstances shall the award 
ever be reduced to zero dollars unless and until American Artists pays the 
entire $140,000.00 amount to Greystone.

     (2)  Greystone shall be entitled to fifty percent (50%) of any and all 
additional gross revenues received by or credited to American Artists ("Gross 
Revenues") pertaining to the two programs known as Angels: The Mysterious 
Messengers and Angels II: Beyond the Light (hereafter, Angels Programs), 
including but not limited to, Gross Revenues from: (a) Calling Card Inc.; (b) 
Alfred Haber Distribution. Inc.; (c) Time-Life Video; (d) Ballantine Books; (e) 
Turner Original Productions; and/or (f) any and all other sources of Gross 
Revenues, whether presently existing or regarding which Greystone and American 
Artists agree in the future. This includes all Gross Revenues received by 
American Artists from any of the above sources at any time on or after January 
1, 1997. Whenever additional Gross Revenues (or accounting statements without 
any Gross Revenues) are received by American Artists from any of the sources 
listed in items (a) through (e) above, American Artists shall, the same day that
the Gross Revenues are received, fax a copy of the payment and/or any accounting
statement, to Greystone. American Artists shall then have ten (10) days to mail 
payment of Greystone's 50% share to Greystone. In the event that any such 
payment is not received by Greystone within twenty (20) days of the date that 
American Artists received such payment, the amount owed shall be increased by 
ten percent (10%) and the total unpaid amount shall be added to this Award.

     (3)  This Stipulation and Award is subject to the provisions of paragraphs 
3 and 4 of the agreement between Greystone and American Artists dated May 29, 
1997.

                                       2

<PAGE>
 
     (4) Each party shall bear its own attorneys' fees and costs.


                                  SHINAAN S. KRAKOWSKY      

DATED: 5/29/97                                   
      --------------
                                  By  /s/ Shinaan S. Krakowsky        
                                    --------------------------------------------
                                     Shinaan S. Krakowsky   
                                               
                                                    
                                  Attorneys for Claimant and Counter-Respondent 
                                  GREYSTONE COMMUNICATIONS, INC.    

                                  STEIN & KAHAN, A Law Corporation
DATED: 6-23-97
      --------------
                                  By  /s/  Joseph R. Taylor 
                                    --------------------------------------------
                                     Joseph R. Taylor    

                                  Attorneys for Respondent and Counter-Claimant
                                  AMERICAN ARTISTS FILM CORPORATION



                                     AWARD
                                     ----- 
     Based upon the foregoing stipulation of the parties, and good cause 
appearing, Greystone Communications, Inc. shall be and hereby is AWARDED and 
shall RECOVER from American Artists Film Corporation the sum of $190,000.00, or 
such other amount as is demonstrated to the court(s) confirming this arbitration
award and/or entering judgment, by the declarations under penalty of perjury of
Greystone and American Artists in accordance with the foregoing stipulation of 
the two parties. Each party is to bear its own attorneys' fees and costs. 

IT IS SO ORDERED:
                        /s/ Jerome J. Sussman
DATED: 6/30/97          -------------------------------------------
                        ARBITRATOR AMERICAN ARBITRATION ASSOCIATION   



                                       3
<PAGE>
 
EXHIBIT B
<PAGE>
 
SHINAAN S. KRAKOWSKY
4705 Laurel Canyon Blvd., 5th Floor
Valley Village, California 916073
(818) 762-2900


Attorneys for Plaintiff
GREYSTONE COMMUNICATIONS, INC.

JOSEPH R. TAYLOR
STEIN & KAHAN, A Law Corporation
1299 Ocean Avenue, 4th Floor
Santa Monica, California 90401
(310) 458-6900

Attorneys for Defendant
AMERICAN ARTISTS FILM CORPORATION


                   SUPERIOR COURT OF THE STATE OF CALIFORNIA

                         IN THE COUNTY OF LOS ANGELES

GREYSTONE COMMUNICATIONS, INC., a  )  Case No.
California corporation,            )  
                                   )  STIPULATION FOR CONFIRMATION OF  
                 Plaintiffs,       )  ARBITRATION AWARD AND ENTRY OF 
                                   )  JUDGEMENT
     vs.                           )
                                   )
AMERICAN ARTISTS FILM              ) 
CORPORATION, a Georgia corporation,)     
                                   )
                 Defendants,       )
___________________________________)


     IT IS HEREBY STIPULATED AND AGREED by and between Greystone Communications,
Inc. (Greystone) and American Artists Film Corporation (American Artists), 
through their respective undersigned counsel of record, that the award of the 
American Arbitration Association Arbitrator, a true and correct copy of which is
attached hereto and incorporated herein as Exhibit A, in favor of Greystone and 
against American Artists shall be CONFIRMED and ENTERED as a JUDGEMENT against 
American Artists and in favor of Greystone, and that Greystone and American 
Artists WAIVE any and all objections to the



<PAGE>
 
confirmation of the arbitration award as the judgement of this Court. Each party
shall bear its own attorneys' fees and costs.

DATED: 5/29/97                      SHINAAN S. KRAKOWSKY
      --------


                                    By: /s/ Shinaan S. Krakowsky
                                        ----------------------------------
                                           Shinaan S. Krakowsky

                                    Attorneys for Plaintiff GREYSTONE
                                    COMMUNICATIONS, INC.


DATED: 6-23-97                      STEIN & KAHAN, A Law Corporation
      -------- 


                                    By: /s/ Joseph R. Taylor
                                        ----------------------------------
                                            Joseph R. Taylor


                                    Attorneys for Defendant
                                    AMERICAN ARTISTS FILM CORPORATION   

                                       2







<PAGE>
 
SHINAAN S. KRAKOWSKY
4705 Laurel Canyon Blvd., 5th Floor
Valley Village, California 916073
(818) 762-2900

Attorneys for Plaintiff
GREYSTONE COMMUNICATIONS, INC.

JOSEPH R. TAYLOR
STEIN & KAHAN, A Law Corporation
1299 Ocean Avenue, 4th Floor
Santa Monica, California 90401
(310) 458-6900

Attorneys for Defendant
AMERICAN ARTISTS FILM CORPORATION




                        SUPERIOR COURT OF FULTON COUNTY

                            OF THE STATE OF GEORGIA


GREYSTONE COMMUNICATIONS, INC., a   )    Case No.
California corporation,             ) 
                                    )    STIPULATION FOR CONFIRMATION OF 
                Plaintiffs,         )    ARBITRATION AWARD AND ENTRY OF
                                    )    JUDGEMENT
       vs.                          )  
                                    )
AMERICAN ARTISTS FILM               )
CORPORATION, a Georgia corporation, )
                                    )
                                    )
                Defendants.         )
____________________________________)

     IT IS HEREBY STIPULATED AND AGREED by and between Greystone Communications,
Inc. (Greystone) and American Artists Film Corporation (American Artists), 
through their respective undersigned counsel of record, that the award of the 
American Arbitration Association Abritrator, a true and correct copy of which is
attached hereto and incorporated herein as Exhibit A, in favor of Greystone and 
against American Artists shall be CONFIRMED and ENTERED as a JUDGEMENT against 
American Artists and in favor of Greystone, and that Greystone and American 
Artists WAIVE any and all objections to the



<PAGE>
 
confirmation of the arbitration award as, the judgement of this Court. Each
party shall bear its own attorneys' fees and costs.

DATED: 5/29/97                          SHINAAN S. KRAKOWSKY
      --------------- 
                                        By  /s/ Shinaan S. Krakowsky
                                          -----------------------------------
                                            Shinaan S. Krakowsky

                                        Attorneys for Plaintiff GREYSTONE
                                        COMMUNICATIONS, INC.

DATED: 6-23-97                          STEIN & KAHAN, A Law Corporation
      ---------------
                                        By  /s/ Joseph R. Taylor
                                          -----------------------------------
                                            Joseph R. Taylor

                                        Attorneys for Defendant
                                        AMERICAN ARTISTS FILM CORPORATION

                                       2
<PAGE>
 
                                   Exhibit C
<PAGE>
 
                CAST & CREW RESIDUAL CAST CONFIRMATION REQUEST
--------------------------------------------------------------------------------

    CLIENT: GREYSTONE COMMUNICATIONS INC             DATE: 04/08/97      
            -------------------------------               ----------------------
PRODUCTION: ANGELS2:POWER OF ANGELS               EPISODE:______________________
            -------------------------------                 
      TYPE: QTR 09/30/96                             #1522
            ------------                               
================================================================================
CAST & CREW WILL NEED THE FOLLOWING INFORMATION BEFORE WE CAN COMPLETE THE
ABOVE MENTIONED RESIDUALS:
================================================================================
               DEAR SHINAAN,,
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
               HERE IS INVOICE 333455.
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
               IF THERE ARE NO CHANGES, PLEASE SIGN BELOW AND RETURN TO ME.
--------------------------------------------------------------------------------
               FAX (818) 848 - 9484
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
               WHEN WE RECEIVE THIS FORM AND PAYMENT,CHECKS WILL THEN BE 
--------------------------------------------------------------------------------
               PROCESSED.
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
               IF YOU HAVE ANY QUESTIONS, PLEASE CALL ME.
--------------------------------------------------------------------------------
               (818) 848 - 6022
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
               THANK YOU
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
             MEL BESHEER
--------------------------------------------------------------------------------
               RESIDUALS
================================================================================
IF THE ENCLOSED WORKSHEET REQUIRES ANY CHANGES PLEASE LIST BELOW:
================================================================================

________________________________________________________________________________

________________________________________________________________________________

________________________________________________________________________________

________________________________________________________________________________

CHANGES REQUESTED BY:__________________________          DATE:__________________

   FINAL APPROVAL BY: /s/ Shinaan S. Krakowsky           DATE:  4/24/97
                     ---------------------------              ------------------
  PROCESS CHECKS?:         Yes                           DATE:  4/24/97
                     ---------------------------              ------------------
          
                             





<PAGE>
 
[LETTERHEAD OF CAST & CREW TALENT SERVICES, INC.]


GREYSTONE COMMUNICATIONS, INC.                              Invoice:  333455
ATTN:  SHINAAN KRAKOWSKY
4705 LAUREL CANYON BLVD.                                       Date:  04/04/97
5TH FLOOR                                                     Terms:  C.O.D.
VALLEY VILLAGE, CA 91607                                    Contact:  mel
                                                             Client:  789/4

          Payroll charges for RES.SAG QTR 09/30/95 for week ending 04/05/97.

                                POWER OF ANGELS     #1522

<TABLE> 
------------------------------------------------------------------------------
<S>                        <C>                                     <C>    
ANGELINA, DIANA            ACTORS, ACTRE Flat amount                  24.19
BROCK, PHILLIP L.          ACTORS, ACTRE Flat amount                  24.19
BRONSON, KIMBERLI          ACTORS, ACTRE Flat amount                  48.37
BUCKNER, INA               ACTORS, ACTRE Flat amount                  24.19
FULLER, WILLIAM            ACTORS, ACTRE Flat amount                  24.19
HUTTON, PATRICIA B.        ACTORS, ACTRE Flat amount                  24.19
JOHNSON, BOBBY             ACTORS, ACTRE Flat amount                  48.37
KOVAL, BARBARA A.          ACTORS, ACTRE Flat amount                  48.37
LILLY, ROBIN               ACTORS, ACTRE Flat amount                  72.56
MAC GREEVY, THOMAS         ACTORS, ACTRE Flat amount                  48.37
MC MAHON, SHAWNA           ACTORS, ACTRE Flat amount                  48.37
MINOR, ROBERT L.           ACTORS, ACTRE Flat amount                  48.37
MIRAULT, DON               ACTORS, ACTRE Flat amount                  24.19
MONROE, STEVE              ACTORS, ACTRE Flat amount                  24.19
NEALY, FRANCES             ACTORS, ACTRE Flat amount                  24.19
NELSON, STUART             ACTORS, ACTRE Flat amount                  24.19
SEAMAN, RICK               ACTORS, ACTRE Flat amount                  24.19
WELCH, LATONYA             ACTORS, ACTRE Flat amount                  24.19
YOAKIM VALLEY PRODUCTION   ACTORS, ACTRE Flat amount                 665.11
------------------------   ------------------------------------- -------------

GROSS WAGES                                                        1,293.98

PAYROLL TAXES FICA                6.20% on $628.87                    39.00
PAYROLL TAXES Medicare            1.45% on $628.87                     9.10
PAYROLL TAXES FUI                 0.80% on $628.87                     5.01
PAYROLL TAXES CA SUI              5.40% on $580.50                    31.38
PAYROLL TAXES FL SUI              5.40% on $48.37                      2.61
SAG PHW                          12.50% on $1,293.98                 161.73
</TABLE> 
   
<PAGE>
 
[LETTERHEAD OF CAST & CREW TALENT SERVICES, INC.]


Invoice #333455 (continued)                                            Page 2

HANDLING                                $4.00 flat X 18                72.00
HANDLING                                 1.50% on $665.11               9.98

TOTAL FRINGE                                                          330.81

TOTAL AMOUNT DUE                                                   $1,624.79
                                                                 =============
<PAGE>
 
<TABLE> 
<CAPTION> 
====================================================================================================================================

04/08/97                                              Cast & Crew Talent                                                      Page 1
 4:49 pm                                         -- Employee Fringe Report --                                               [fringe]

====================================================================================================================================
<S>                                <C>            <C>                              <C>                <C>                     <C> 
      Batch number:       94100
    Invoice number:      333455     Week Ending: 04/05/97
Production Company:         789     GREYSTONE COMMUNICATIONS, INC.
           Project:           4     POWER OF ANGELS

ANGELINA, DIANA                    ###-##-####    M/S: S  EXM: 1                    YTD GROSS:        176.40  GROSS:           24.19
                                                  RES ST: CA  WORK ST: CA                                       NET:           22.22
          GREYSTONE COMMUNICATIONS, INC. POWER OF ANGELS                           SAG ACTORS, ACTRESSES
                      EARNINGS                  24.19  TAXES                    3.35  PENSION                 3.02
                      -------------------------------  -----------------------------  ----------------------------
Chk: 0                Residual                  24.19  FICA                     1.85  HANDLING                4.00
                                                                                      ----------------------------
Seq: 70186640                                          FUI                      0.19
Check Date:                                            SUI                      1.31  Outstanding Vac         0.00
WkEnd Date: 04/05/97                                                                  Outstanding Hol         0.00
Invoice #: 333455

                          ACCOUNT             SER  LOC  SET  INS  FREE       HOURS       AMOUNT
                          ------------------- ---- ---- ---- ---- ---- -----------  -----------
                                                                              0.00        34.56
 ....................................................................................................................................

BROCK, PHILLIP L.                  ###-##-####    M/S: S  EXM: 1                    YTD GROSS:        176.40  GROSS:           24.19
                                                  RES ST: CA  WORK ST: CA                                       NET:           22.22
          GREYSTONE COMMUNICATIONS, INC. POWER OF ANGELS                           SAG ACTORS, ACTRESSES
                      EARNINGS                  24.19  TAXES                    3.35  PENSION                 3.02
                      -------------------------------  -----------------------------  ----------------------------
Chk: 0                Residual                  24.19  FICA                     1.85  HANDLING                4.00
                                                                                      ----------------------------
Seq: 70186619                                          FUI                      0.19
Check Date:                                            SUI                      1.31  Outstanding Vac         0.00
WkEnd Date: 04/05/97                                                                  Outstanding Hol         0.00
Invoice #: 333455

                          ACCOUNT              SER  LOC  SET  INS  FREE       HOURS       AMOUNT
                          -------------------- ---- ---- ---- ---- ---- -----------  -----------
                                                                               0.00        34.56
 ....................................................................................................................................

BRONSON, KIMBERLI                  ###-##-####    M/S: S  EXM: 1                    YTD GROSS:        352.80  GROSS:           48.37
                                                  RES ST: FL  WORK ST:  FL                                      NET:           44.67
          GREYSTONE COMMUNICATIONS, INC. POWER OF ANGELS                           SAG ACTORS, ACTRESSES
                      EARNINGS                  48.37  TAXES                    6.70  PENSION                 6.05
                      -------------------------------  -----------------------------  ----------------------------
Chk: 0                Residual                  48.37  FICA                     3.70  HANDLING                4.00
                                                                                      ----------------------------
Seq: 70186628                                          FUI                      0.39
Check Date:                                            SUI                      2.61  Outstanding Vac         0.00
WkEnd Date: 04/05/97                                                                  Outstanding Hol         0.00
Invoice #: 333455

                          ACCOUNT              SER  LOC  SET  INS  FREE       HOURS       AMOUNT
                          -------------------- ---- ---- ---- ---- ---- -----------  -----------
                                                                               0.00        65.12
 ....................................................................................................................................
</TABLE> 
 
<PAGE>
 
<TABLE> 
<CAPTION> 
====================================================================================================================================
04/08/97                                                    Cast & Crew Talent                                         Page 2
                                                       -- Employee Fringe Report --                                   [fringe]
====================================================================================================================================
<S>                                <C>            <C>                         <C>                                     <C> 
BUCKNER, INA                        ###-##-####    M/S: S  EXM: 1              YTD GROSS:          176.40 GROSS:        24.19
                                                   RES ST: CA WORK ST: CA                                   NET:        22.22
          GREYSTONE COMMUNICATIONS, INC. POWER OF ANGELS                       SAG ACTORS, ACTRESSES
                    EARNINGS                        24.19   TAXES           3.35  PENSION                    3.02
                    -------------------------------------   --------------------  -------------------------------
Chk: 0              Residual                        24.19   FICA            1.85  HANDLING                   4.00
                                                                                  -------------------------------
Seq: 70186659                                                                    
Check Date:                                                 FUI             0.19  Outstanding Vac            0.00
WkEnd Date: 04/05/97                                        SUI             1.31  Outstanding Hol            0.00
Invoice #: 333455

                              ACCOUNT           SER  LOC  SET  INS  FREE   HOURS     AMOUNT
                              ----------------  ---- ---- ---- ---- ---- ------- ----------
                                                                            0.00      34.56
 ....................................................................................................................................

FULLER, WILLIAM                     ###-##-####    M/S: S  EXM: 1             YTD GROSS:     176.40    GROSS:           24.19
                                                   RES ST: CA WORK ST: CA                                NET:           22.22
          GREYSTONE COMMUNICATIONS, INC. POWER OF ANGELS                       SAG ACTORS, ACTRESSES
                    EARNINGS                        24.19   TAXES           3.35  PENSION                 3.02
                    -------------------------------------   --------------------  ----------------------------
Chk: 0              Residual                        24.19   FICA            1.85  HANDLING                4.00
                                                                                  ----------------------------
Seq: 70186634                                               FUI             0.19
Check Date:                                                 SUI             1.31  Outstanding Vac         0.00
WKEnd Date: 04/05/97                                                              Outstanding Hol         0.00
Invoice #: 333455

                              ACCOUNT           SER  LOC  SET  INS  FREE   HOURS     AMOUNT
                              ----------------  ---- ---- ---- ---- ---- ------- ----------
                                                                            0.00      34.56
 ....................................................................................................................................

HUTTON, PATRICIA B.                 ###-##-####    M/S: M  EXM: 1             YTD GROSS:     176.40    GROSS:           24.19
                                                   RES ST: CA WORK ST: CA                                NET:           22.22
          GREYSTONE COMMUNICATIONS, INC. POWER OF ANGELS                       SAG ACTORS, ACTRESSES
                    EARNINGS                        24.19   TAXES           3.35  PENSION                 3.02
                    -------------------------------------   --------------------  ----------------------------
Chk: 0              Residual                        24.19   FICA            1.85  HANDLING                4.00
                                                                                  ----------------------------
Seq: 70186639                                               FUI             0.19  
Check Date:                                                 SUI             1.31  Outstanding Vac         0.00
WKEnd Date: 04/05/97                                                              Outstanding Hol         0.00
Invoice #: 333455

                              ACCOUNT           SER  LOC  SET  INS  FREE   HOURS     AMOUNT
                              ----------------  ---- ---- ---- ---- ---- ------- ----------
                                                                            0.00      34.56                        
 ....................................................................................................................................

JOHNSON, BOBBY                      ###-##-####    M/S: S  EXM: 1             YTD GROSS:     352.80    GROSS:           48.37
                                                   RES ST: CA WORK ST: CA                                NET:           44.43
          GREYSTONE COMMUNICATIONS, INC. POWER OF ANGELS                       SAG ACTORS, ACTRESSES
                    EARNINGS                        48.37   TAXES           6.70  PENSION                 6.05
                    -------------------------------------   --------------------  ----------------------------
Chk: 0              Residual                        48.37   FICA            3.70  HANDLING                4.00
                                                                                  ----------------------------
Seq: 70186647                                               FUI             0.39  
Check Date:                                                 SUI             2.61  Outstanding Vac         0.00
WKEnd Date: 04/05/97                                                              Outstanding Hol         0.00
Invoice #: 333455
                    
                              ACCOUNT           SER  LOC  SET  INS  FREE   HOURS     AMOUNT
                              ----------------  ---- ---- ---- ---- ---- ------- ----------
                                                                            0.00      65.12
 ....................................................................................................................................
</TABLE> 

<PAGE>
 
<TABLE> 
<CAPTION> 
====================================================================================================================================

04/08/97                                              Cast & Crew Talent                                                      Page 3
                                                 -- Employee Fringe Report --                                               [fringe]

====================================================================================================================================
<S>                                <C>            <C>                              <C>                <C>                     <C> 
KOVAL, BARBARA A.                  ###-##-####    M/S: S  EXM: 999                  YTD GROSS:        352.80  GROSS:           48.37
                                                  RES ST: CA  WORK ST: CA                                       NET:           44.43
          GREYSTONE COMMUNICATIONS, INC. POWER OF ANGELS                           SAG ACTORS, ACTRESSES
                      EARNINGS                  48.37  TAXES                    6.70  PENSION                 6.05
                      -------------------------------  -----------------------------  ----------------------------
Chk: 0                Residual                  48.37  FICA                     3.70  HANDLING                4.00
                                                                                      ----------------------------
Seq: 70186631                                          FUI                      0.39
Check Date:                                            SUI                      2.61  Outstanding Vac         0.00
WkEnd Date: 04/05/97                                                                  Outstanding Hol         0.00
Invoice #: 333455

                          ACCOUNT             SER  LOC  SET  INS  FREE       HOURS       AMOUNT
                          ------------------- ---- ---- ---- ---- ---- -----------  -----------
                                                                              0.00       65.12
 ....................................................................................................................................

LILLY, ROBIN                       ###-##-####    M/S: S  EXM: 1                    YTD GROSS:        882.00  GROSS:           72.56
                                                  RES ST: CA  WORK ST: CA                                       NET:           66.65
          GREYSTONE COMMUNICATIONS, INC. POWER OF ANGELS                           SAG ACTORS, ACTRESSES
                      EARNINGS                  72.56  TAXES                   10.05  PENSION                 9.07
                      -------------------------------  -----------------------------  ----------------------------
Chk: 0                Residual                  72.56  FICA                     5.55  HANDLING                4.00
                                                                                      ----------------------------
Seq: 70186621                                          FUI                      0.58
Check Date:                                            SUI                      3.92  Outstanding Vac         0.00
WkEnd Date: 04/05/97                                                                  Outstanding Hol         0.00
Invoice #: 333455

                          ACCOUNT              SER  LOC  SET  INS  FREE       HOURS       AMOUNT
                          -------------------- ---- ---- ---- ---- ---- -----------  -----------
                                                                               0.00        95.68
 ....................................................................................................................................

MAC GREEVY, THOMAS                 ###-##-####    M/S: S  EXM: 1                    YTD GROSS:        352.80  GROSS:           48.37
                                                  RES ST: CA  WORK ST: CA                                       NET:           44.43
          GREYSTONE COMMUNICATIONS, INC. POWER OF ANGELS                           SAG ACTORS, ACTRESSES
                      EARNINGS                  48.37  TAXES                    6.70  PENSION                 6.05
                      -------------------------------  -----------------------------  ----------------------------
Chk: 0                Residual                  48.37  FICA                     3.70  HANDLING                4.00
                                                                                      ----------------------------
Seq: 70186624                                          FUI                      0.39
Check Date:                                            SUI                      2.61  Outstanding Vac         0.00
WkEnd Date: 04/05/97                                                                  Outstanding Hol         0.00
Invoice #: 333455

                          ACCOUNT              SER  LOC  SET  INS  FREE       HOURS       AMOUNT
                          -------------------- ---- ---- ---- ---- ---- -----------  -----------
                                                                               0.00        65.12
 ....................................................................................................................................

MC MAHON, SHAWNA                   ###-##-####    M/S: S  EXM: 1                    YTD GROSS:         48.37  GROSS:           48.37
                                                  RES ST: CA  WORK ST: CA                                       NET:           44.43
          GREYSTONE COMMUNICATIONS, INC. POWER OF ANGELS                           SAG ACTORS, ACTRESSES
                      EARNINGS                  48.37  TAXES                    6.70  PENSION                 6.05
                      -------------------------------  -----------------------------  ----------------------------
Chk: 0                Residual                  48.37  FICA                     3.70  HANDLING                4.00
                                                                                      ----------------------------
Seq: 70186623                                          FUI                      0.39
Check Date:                                            SUI                      2.61  Outstanding Vac         0.00
WkEnd Date: 04/05/97                                                                  Outstanding Hol         0.00
Invoice #: 333455

                          ACCOUNT              SER  LOC  SET  INS  FREE       HOURS       AMOUNT
                          -------------------- ---- ---- ---- ---- ---- -----------  -----------
                                                                               0.00        65.12
 ....................................................................................................................................
</TABLE> 
 
<PAGE>
 
<TABLE> 
<CAPTION> 
====================================================================================================================================

04/08/97                                              Cast & Crew Talent                                                      Page 4
                                                 -- Employee Fringe Report --                                               [fringe]

====================================================================================================================================
<S>                                <C>            <C>                              <C>                <C>                     <C> 
MINOR, ROBERT L.                   ###-##-####    M/S: M  EXM: 9                    YTD GROSS:        352.80  GROSS:           48.37
                                                  RES ST: CA  WORK ST: CA                                       NET:           44.43
          GREYSTONE COMMUNICATIONS, INC. POWER OF ANGELS                           SAG ACTORS, ACTRESSES
                      EARNINGS                  48.37  TAXES                    6.70  PENSION                 6.05
                      -------------------------------  -----------------------------  ----------------------------
Chk: 0                Residual                  48.37  FICA                     3.70  HANDLING                4.00
                                                                                      ----------------------------
Seq: 70186648                                          FUI                      0.39
Check Date:                                            SUI                      2.61  Outstanding Vac         0.00
WkEnd Date: 04/05/97                                                                  Outstanding Hol         0.00
Invoice #: 333455

                          ACCOUNT             SER  LOC  SET  INS  FREE       HOURS       AMOUNT
                          ------------------- ---- ---- ---- ---- ---- -----------  -----------
                                                                              0.00       65.12
 ....................................................................................................................................

MIRAULT, DON                       ###-##-####    M/S: S  EXM: 1                    YTD GROSS:        176.40  GROSS:           24.19
                                                  RES ST: CA  WORK ST: CA                                       NET:           22.22
          GREYSTONE COMMUNICATIONS, INC. POWER OF ANGELS                           SAG ACTORS, ACTRESSES
                      EARNINGS                  24.19  TAXES                    3.35  PENSION                 3.02
                      -------------------------------  -----------------------------  ----------------------------
Chk: 0                Residual                  24.19  FICA                     1.85  HANDLING                4.00
                                                                                      ----------------------------
Seq: 70186637                                          FUI                      0.19
Check Date:                                            SUI                      1.31  Outstanding Vac         0.00
WkEnd Date: 04/05/97                                                                  Outstanding Hol         0.00
Invoice #: 333455

                          ACCOUNT              SER  LOC  SET  INS  FREE       HOURS       AMOUNT
                          -------------------- ---- ---- ---- ---- ---- -----------  -----------
                                                                               0.00        34.56
 ....................................................................................................................................

MONROE, STEVE                      ###-##-####    M/S: S  EXM: 1                    YTD GROSS:        176.40  GROSS:           24.19
                                                  RES ST: CA  WORK ST: CA                                       NET:           22.22
          GREYSTONE COMMUNICATIONS, INC. POWER OF ANGELS                           SAG ACTORS, ACTRESSES
                      EARNINGS                  24.19  TAXES                    3.35  PENSION                 3.02
                      -------------------------------  -----------------------------  ----------------------------
Chk: 0                Residual                  24.19  FICA                     1.85  HANDLING                4.00
                                                                                      ----------------------------
Seq: 70186655                                          FUI                      0.19
Check Date:                                            SUI                      1.31  Outstanding Vac         0.00
WkEnd Date: 04/05/97                                                                  Outstanding Hol         0.00
Invoice #: 333455

                          ACCOUNT              SER  LOC  SET  INS  FREE       HOURS       AMOUNT
                          -------------------- ---- ---- ---- ---- ---- -----------  -----------
                                                                               0.00        34.56
 ....................................................................................................................................

NEALY, FRANCIS                     ###-##-####    M/S: S  EXM: 1                    YTD GROSS:        176.40  GROSS:           24.19
                                                  RES ST: CA  WORK ST: CA                                       NET:           22.22
          GREYSTONE COMMUNICATIONS, INC. POWER OF ANGELS                           SAG ACTORS, ACTRESSES
                      EARNINGS                  24.19  TAXES                    3.35  PENSION                 3.02
                      -------------------------------  -----------------------------  ----------------------------
Chk: 0                Residual                  24.19  FICA                     1.85  HANDLING                4.00
                                                                                      ----------------------------
Seq: 70186653                                          FUI                      0.19
Check Date:                                            SUI                      1.31  Outstanding Vac         0.00
WkEnd Date: 04/05/97                                                                  Outstanding Hol         0.00
Invoice #: 333455

                          ACCOUNT              SER  LOC  SET  INS  FREE       HOURS       AMOUNT
                          -------------------- ---- ---- ---- ---- ---- -----------  -----------
                                                                               0.00        34.56
 ....................................................................................................................................
</TABLE> 
 
<PAGE>
 
<TABLE> 
<CAPTION> 
====================================================================================================================================

04/08/97                                              Cast & Crew Talent                                                      Page 5
                                                 -- Employee Fringe Report --                                               [fringe]

====================================================================================================================================
<S>                                <C>            <C>                              <C>                <C>                     <C> 
NELSON, STUART                     ###-##-####    M/S: S  EXM: 1                    YTD GROSS:        176.40  GROSS:           24.19
                                                  RES ST: CA  WORK ST: CA                                       NET:           22.22
          GREYSTONE COMMUNICATIONS, INC. POWER OF ANGELS                           SAG ACTORS, ACTRESSES
                      EARNINGS                  24.19  TAXES                    3.35  PENSION                 3.02
                      -------------------------------  -----------------------------  ----------------------------
Chk: 0                Residual                  24.19  FICA                     1.85  HANDLING                4.00
                                                                                      ----------------------------
Seq: 70186630                                          FUI                      0.19
Check Date:                                            SUI                      1.31  Outstanding Vac         0.00
WkEnd Date: 04/05/97                                                                  Outstanding Hol         0.00
Invoice #: 333455

                          ACCOUNT             SER  LOC  SET  INS  FREE       HOURS       AMOUNT
                          ------------------- ---- ---- ---- ---- ---- -----------  -----------
                                                                              0.00        34.56
 ....................................................................................................................................

POWERS, STEFANIE                   ###-##-####    M/S: EXM: 0                       YTD GROSS:        613.20  GROSS:          665.11
YOAKIM VALLEY PRODUCTIONS          95-3755629     RES ST: CA  WORK ST: CA                                       NET:          665.11
          GREYSTONE COMMUNICATIONS, INC. POWER OF ANGELS                           SAG ACTORS, ACTRESSES
                      EARNINGS                 665.11                                 PENSION                83.14
                      -------------------------------                                 ----------------------------
Chk: 0                Residual                 665.11                                 HANDLING                9.98
                                                                                      ----------------------------
Seq: 70186662                                                                       
Check Date:                                                                           Outstanding Vac         0.00
WkEnd Date: 04/05/97                                                                  Outstanding Hol         0.00
Invoice #: 333455

                          ACCOUNT              SER  LOC  SET  INS  FREE       HOURS       AMOUNT
                          -------------------- ---- ---- ---- ---- ---- -----------  -----------
                                                                               0.00       758.23
 ....................................................................................................................................

SEAMAN, RICK                       ###-##-####    M/S: M  EXM: 9                    YTD GROSS:        176.40  GROSS:           24.19
                                                  RES ST: CA  WORK ST: CA                                       NET:           22.22
          GREYSTONE COMMUNICATIONS, INC. POWER OF ANGELS                           SAG ACTORS, ACTRESSES
                      EARNINGS                  24.19  TAXES                    3.35  PENSION                 3.02
                      -------------------------------  -----------------------------  ----------------------------
Chk: 0                Residual                  24.19  FICA                     1.85  HANDLING                4.00
                                                                                      ----------------------------
Seq: 70186650                                          FUI                      0.19
Check Date:                                            SUI                      1.31  Outstanding Vac         0.00
WkEnd Date: 04/05/97                                                                  Outstanding Hol         0.00
Invoice #: 333455

                          ACCOUNT              SER  LOC  SET  INS  FREE       HOURS       AMOUNT
                          -------------------- ---- ---- ---- ---- ---- -----------  -----------
                                                                               0.00        34.56
 ....................................................................................................................................

WELCH, LATONYA                     ###-##-####    M/S: S  EXM: 1                    YTD GROSS:        176.40  GROSS:           24.19
                                                  RES ST: CA  WORK ST: CA                                       NET:           22.22
          GREYSTONE COMMUNICATIONS, INC. POWER OF ANGELS                           SAG ACTORS, ACTRESSES
                      EARNINGS                  24.19  TAXES                    3.35  PENSION                 3.02
                      -------------------------------  -----------------------------  ----------------------------
Chk: 0                Residual                  24.19  FICA                     1.85  HANDLING                4.00
                                                                                      ----------------------------
Seq: 70186651                                          FUI                      0.19
Check Date:                                            SUI                      1.31  Outstanding Vac         0.00
WkEnd Date: 04/05/97                                                                  Outstanding Hol         0.00
Invoice #: 333455

                          ACCOUNT              SER  LOC  SET  INS  FREE       HOURS       AMOUNT
                          -------------------- ---- ---- ---- ---- ---- -----------  -----------
                                                                               0.00        34.56
 ....................................................................................................................................
</TABLE> 
 
<PAGE>
 
<TABLE> 
<CAPTION> 
====================================================================================================================================
04/08/97                                                       Cast & Crew Talent                                       Page 6
                                                         -- Employee Fringe Report --                                  [fringe]
====================================================================================================================================
<S>              <C>                             <C>                              <C>                          <C>          <C> 
GRAND TOTAL                                                                                                    GROSS:       1,293.98
                                                                                                                 NET:       1,243.00
                 EARNINGS             1,293.98   TAXES                  87.10     PENSION               161.73
                 -----------------------------   ----------------------------     ----------------------------
                 Residual             1,293.98   FICA                   48.10     HANDLING               81.98
                                                 FUI                     5.01
                                                 SUI                    33.99

                         ACCOUNT      SER  LOC   SET  INS  FREE         HOURS        AMOUNT
                         ------------ ---- ----  ---- ---- ----- ------------ -------------
                                                                         0.00      1,624.79


====================================================================================================================================
                                               --- End of Employee Fringe Report ---
====================================================================================================================================
</TABLE> 
<PAGE>
 
[LETTERHEAD OF CAST & CREW TALENT SERVICES, INC.]

GREYSTONE COMMUNICATIONS, INC.                             Invoice: 333428
ATTN: SHINAAN KRAKOWSKY
4705 LAUREL CANYON BLVD.                                       Date: 04/04/97
5TH FLOOR                                                     Terms: C.O.D.
VALLEY VILLAGE, CA 91607                                    Contact: mel
                                                             Client: 789/3
                                                                    # 1520
     Payroll charges for RES.SAG QTR 09/30/95 for week ending 04/05/97.

                               MYSTERY OF ANGELS

<TABLE>    
-----------------------------------------------------------------------------------------------------------------------------------
<S>                                                    <C>                                                  <C>    
DUKE, PATTY                                            ACTORS, ACTRE Flat amount                             7,652.09
LEBER, JAMES J.                                        ACTORS, ACTRE Flat amount                               263.87
------------------------------------------------------ ------------- --------------------------------------- ----------------------
GROSS WAGES                                                                                                  7,915.96

PAYROLL TAXES FICA                                         6.20% on $7,915.96                                  490.79
PAYROLL TAXES Medicare                                     1.45% on $7,915.96                                  114.79
PAYROLL TAXES FUI                                          0.80% on $5,241.87                                   41.93
PAYROLL TAXES CA SUI                                       5.40% on $4,978.00                                  268.81
PAYROLL TAXES NY SUI                                       5.40% on $263.87                                     14.25
SAG PHW                                                   12.50% on $7,915.96                                  989.46

HANDLING                                                 Flat amount                                             4.00
HANDLING                                                   1.50% on $7,652.09                                  114.78          

TOTAL FRINGE                                                                                                 2,038.84

TOTAL AMOUNT DUE                                                                                            $9,954.80
                                                                                                         ===============
</TABLE> 


<PAGE>
 
<TABLE> 
<CAPTION> 
====================================================================================================================================
???                                                  Cast & Crew Talent                                               Page 1
???                                              -- Employee Fringe Report --                                         [fringe]
====================================================================================================================================
<S>                            <C>                                                   <C>            <C>                 <C> 
      Batch number:  94085
    Invoice Number: 333428     Week Ending: 04/05/97
Production Company:    789     GREYSTONE COMMUNICATIONS, INC.
           Project:      3      MYSTERY OF ANGELS


DUKE, PATTY                             ###-##-####         M/S: S  EXM: 1           YTD GROSS:     1,078.40  GROSS:    7,652.09
                                                            RES ST: CA WORK ST: CA                              NET:    3,757.91 
          GREYSTONE COMMUNICATIONS, INC. MYSTERY OF ANGELS                          SAG ACTORS, ACTRESSES
                      EARNINGS                    7,652.09       TAXES         894.02  PENSION               956.51
                      ------------------------------------       --------------------  ----------------------------
Chk: 0                Residual                    7,652.09       FICA          585.39  HANDLING              114.78
                                                                                       ----------------------------
Seq: 70186597                                                    FUI            39.82 
Check Date:                                                      SUI           268.81  Outstanding Vac         0.00
WKEnd Date: 04/05/97                                                                   Outstanding Hol         0.00
Invoice #: 333428

                                   ACCOUNT        SER  LOC  SET  INS  FREE      HOURS          AMOUNT
                                   -------------- ---- ---- ---- ---- ---- ---------- ---------------
                                                                                 0.00        9,617.40

 ....................................................................................................................................

LEBER, JAMES J.                         ###-##-####         M/S: S  EXM: 1           YTD GROSS:       194.00  GROSS:      263.87
                                                            RES ST: NY WORK ST: NY                              NET:      214.97
          GREYSTONE COMMUNICATIONS, INC. MYSTERY OF ANGELS                          SAG ACTORS, ACTRESSES
                      EARNINGS                      263.87       TAXES          36.55  PENSION                32.98
                      ------------------------------------       --------------------  ----------------------------
Chk: 0                Residual                      263.87       FICA           20.19  HANDLING                4.00
                                                                                       ----------------------------
Seq: 70186611                                                    FUI             2.11
Check Date:                                                      SUI            14.25  Outstanding Vac         0.00
WKEnd Date: 04/05/97                                                                   Outstanding Hol         0.00
Invoice #: 333428

                                   ACCOUNT        SER  LOC  SET  INS  FREE      HOURS          AMOUNT
                                   -------------- ---- ---- ---- ---- ---- ---------- ---------------
                                                                                 0.00          337.40
 ....................................................................................................................................

GRAND TOTAL                                                                                                   GROSS:    7,915.96
                                                                                                                NET:    3,972.88

                      EARNINGS                    7,915.96       TAXES         930.57   PENSION              989.49     
                      ------------------------------------       --------------------  ----------------------------
                      Residual                    7,915.96       FICA          605.58  HANDLING              118.78
                                                                                       ----------------------------
                                                                 FUI            41.93
                                                                 SUI           283.06 
                      
                                   ACCOUNT        SER  LOC  SET  INS  FREE      HOURS          AMOUNT
                                   -------------- ---- ---- ---- ---- ---- ---------- ---------------
                                                                                 0.00        9,954.80

====================================================================================================================================
                                             --- End of Employee Fringe Report ---
====================================================================================================================================
</TABLE> 

<PAGE>
 
                CAST & CREW RESIDUAL CAST CONFIRMATION REQUEST
--------------------------------------------------------------------------------

    CLIENT:    GREYSTONE COMMUNICATIONS INC              DATE: 04/08/97
               ----------------------                         -----------------
PRODUCTION:    ANGELS 1:MYSTERY OF ANGLES             EPISODE:_________________
               ----------------------
      TYPE:    QTR 09/30/96                              #1512
               ---------------------- 
================================================================================
CAST & CREW WILL NEED THE FOLLOWING INFORMATION BEFORE WE CAN COMPLETE THE ABOVE
MENTIONED RESIDUALS:
================================================================================
               DEAR SHINAAN,
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
               HERE IS INVOICE 333428
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
               IF THERE ARE NO CHANGES, PLEASE SIGN BELOW AND RETURN TO ME.
--------------------------------------------------------------------------------
               FAX (818) 848 - 9484
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
               WHEN WE RECEIVE THIS FORM AND PAYMENT, CHECKS WILL THEN BE 
--------------------------------------------------------------------------------
               PROCESSED.
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
               IF YOU HAVE ANY QUESTIONS, PLEASE CALL ME.
--------------------------------------------------------------------------------
               (818) 848 - 6022
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
               THANK YOU
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
               MEL BESHEER
--------------------------------------------------------------------------------
               RESIDUALS
================================================================================
IF THE ENCLOSED WORKSHEET REQUIRES ANY CHANGES PLEASE LIST BELOW:
================================================================================
 
________________________________________________________________________________

________________________________________________________________________________

________________________________________________________________________________

________________________________________________________________________________

CHANGES REQUESTED BY:______________________________      DATE: _________________

     FINAL APPROVAL BY: /s/ Shinaan S. Krakowsky         DATE: 4/24/97
                        ---------------------------           ------------------

PROCESS CHECKS?: Yes                                     DATE: 4/24/97
                 ----------------------------------           ------------------






<PAGE>
 
               CAST & CREW RESIDUAL CAST CONFIRMATION REQUEST
--------------------------------------------------------------------------------
     CLIENT:   GREYSTONE COMMUNICATIONS INC             DATE: 04/08/97
               ----------------------------                  -------------------
 PRODUCTION:   ANGELS: MYSTERY OF ANGELS             EPISODE:___________________
               -------------------------                    
       TYPE:   NET 2ND RUN                              #1521
               -----------
================================================================================
CAST & CREW WILL NEED THE FOLLOWING INFORMATION BEFORE WE CAN COMPLETE THE ABOVE
MENTIONED RESIDUALS:
================================================================================
               DEAR SHINAAN,
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
               HERE IS INVOICE 333404.
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
               IF THERE ARE NO CHANGES, PLEASE SIGN BELOW AND RETURN TO ME.
--------------------------------------------------------------------------------
               FAX (818) 848 - 9484
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
               WHEN WE RECEIVE THIS FORM AND PAYMENT, CHECKS WILL THEN BE 
               PROCESSED.
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
               IF YOU HAVE ANY QUESTIONS, PLEASE CALL ME.
--------------------------------------------------------------------------------
               (818) 848 - 6022
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
               THANK YOU
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
               MEL BESHEER
--------------------------------------------------------------------------------
               RESIDUALS
================================================================================
IF THE ENCLOSED WORKSHEET REQUIRES ANY CHANGES PLEASE LIST BELOW:
================================================================================

________________________________________________________________________________

________________________________________________________________________________

________________________________________________________________________________

________________________________________________________________________________

CHANGES REQUESTED BY:_______________________           DATE:_________________
                   
  FINAL APPROVAL BY: /s/ Shinaan S. Krakowsky          DATE:    4/24/97
                   --------------------------                -----------------
   PROCESS CHECKS?:      Yes                           DATE:    4/24/97
                    -------------------------                -----------------


<PAGE>
 

[LETTERHEAD OF CAST & CREW TALENT SERVICES, INC.]


GREYSTONE COMMUNICATIONS, INC.                  INVOICE: 333404
ATTN: SHINAAN KRAKOWSKY                                
4705 LAUREL CANYON BLVD.                           Date: 04/04/97
5TH FLOOR                                         Terms: C.O.D.   
VALLEY VILLAGE, CA 91607                        Contact: mel      
                                                 Client: 789/3 
                                                         #1520    

     Payroll charges for RES.SAG 2ND NET P/T RUN for week ending 04/05/97.

                              MYSTERY OF ANGELS  

<TABLE> 
----------------------------------------------------------------------------
<S>                       <C>                                    <C> 
DUKE, PATTY               ACTORS,ACTRE Flat amount                1,078.40  
LEBER, JAMES J.           ACTORS,ACTRE Flat amount                  194.00 
------------------------  ------------ ------------------------- -----------
GROSS WAGES                                                       1,272.40

PAYROLL TAXES FICA             6.20% on $1,272.40                    78.89     
PAYROLL TAXES Medicare         1.45% on $1,272.40                    18.45
PAYROLL TAXES FUI              0.80% on $1,272.40                    10.18    
PAYROLL TAXES CA SUI           5.40% on $1,078.40                    58.23
PAYROLL TAXES NY SUI           5.40% on $194.00                      10.48      
SAG PHW                       12.80% on $1,272.40                   162.87   

HANDLING                    Flat amount                               4.00 
HANDLING                      1.50% on $1,078.40                     16.18

TOTAL FRINGE                                                        359.28   

TOTAL AMOUNT DUE                                                 $1,631.68
                                                                ============ 
</TABLE> 
                                                
<PAGE>
 
<TABLE> 
<CAPTION> 
====================================================================================================================================
04/08/97                                               Cast & Crew Talent                                               Page 1
10:55 am                                          -- Employee Fringe Report --                                         [fringe]
====================================================================================================================================
<S>                            <C>                          <C>                     <C>            <C>                 <C> 
      Batch number:  94070
    Invoice Number: 333404     Week Ending: 04/05/97
Production Company:    789     GREYSTONE COMMUNICATIONS, INC.
           Project:      3     MYSTERY OF ANGELS


DUKE, PATTY                             ###-##-####         M/S: S   EXM: 1          YTD GROSS:     1,078.40  GROSS:    1,078.40
                                                            RES ST: CA WORK ST: CA                              NET:      711.70
          GREYSTONE COMMUNICATIONS, INC. MYSTERY OF ANGELS                          SAG ACTORS, ACTRESSES
                      EARNINGS                    1,078.40       TAXES         149.36  PENSION               138.04
                      ------------------------------------       --------------------  ----------------------------
Chk: 0                Residual                    1,078.40       FICA           82.50  HANDLING               16.18
                                                                                       ----------------------------
Seq: 70182418                                                    FUI             8.63 
Check Date:                                                      SUI            58.23  Outstanding Vac         0.00
WKEnd Date: 04/05/97                                                                   Outstanding Hol         0.00
Invoice #: 333404

                                   ACCOUNT        SER  LOC  SET  INS  FREE      HOURS          AMOUNT
                                   -------------- ---- ---- ---- ---- ---- ---------- ---------------
                                                                                 0.00        1,381.98

 ....................................................................................................................................

LEBER, JAMES J.                         ###-##-####         M/S: S  EXM: 1           YTD GROSS:       194.00  GROSS:      194.00
                                                            RES ST: NY WORK ST: NY                              NET:      163.72
          GREYSTONE COMMUNICATIONS, INC. MYSTERY OF ANGELS                          SAG ACTORS, ACTRESSES
                      EARNINGS                      194.00       TAXES          26.87  PENSION                24.83
                      ------------------------------------       --------------------  ----------------------------
Chk: 0                Residual                      194.00       FICA           14.84  HANDLING                4.00
                                                                                       ----------------------------
Seq: 70182419                                                    FUI             1.55
Check Date:                                                      SUI            10.48  Outstanding Vac         0.00
WKEnd Date: 04/05/97                                                                   Outstanding Hol         0.00
Invoice #: 333404

                                   ACCOUNT        SER  LOC  SET  INS  FREE      HOURS          AMOUNT
                                   -------------- ---- ---- ---- ---- ---- ---------- ---------------
                                                                                 0.00          249.70                    
 ....................................................................................................................................

GRAND TOTAL                                                                                                   GROSS:    1,272.40
                                                                                                                NET:      875.42

                      EARNINGS                    1,272.40       TAXES         176.23   PENSION              162.87     
                      ------------------------------------       --------------------  ----------------------------
                      Residual                    1,272.40       FICA           97.34  HANDLING               20.18 
                                                                                       ----------------------------
                                                                 FUI            10.18
                                                                 SUI            68.71  Outstanding Vac         0.00
                                                                                       Outstanding Hol         0.00
                      
                      
                                   ACCOUNT        SER  LOC  SET  INS  FREE      HOURS          AMOUNT
                                   -------------- ---- ---- ---- ---- ---- ---------- ---------------
                                                                                 0.00        1,631.68

====================================================================================================================================
                                             --- End of Employee Fringe Report ---
====================================================================================================================================
</TABLE> 
<PAGE>
 
               CAST & CREW RESIDUAL CAST CONFIRMATION REQUEST
--------------------------------------------------------------------------------

     CLIENT:   GREYSTONE COMMUNICATIONS INC                 DATE: 04/08/97
               ----------------------------                      ---------------
 PRODUCTION:   ANGELS: MYSTERY OF ANGELS                 EPISODE:_______________
               -------------------------                        
       TYPE:   35% FOREIGN BUYOUT                           #1520
               ------------------
================================================================================
CAST & CREW WILL NEED THE FOLLOWING INFORMATION BEFORE WE CAN COMPLETE THE ABOVE
MENTIONED RESIDUALS:
================================================================================
               DEAR SHINAAN,
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
               HERE IS INVOICE 333418.
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
               IF THERE ARE NO CHANGES, PLEASE SIGN BELOW AND RETURN TO ME.
--------------------------------------------------------------------------------
               FAX (818) 848 - 9484
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
               WHEN WE RECEIVE THIS FORM AND PAYMENT, CHECKS WILL THEN BE 
--------------------------------------------------------------------------------
               PROCESSED.
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
               IF YOU HAVE ANY QUESTIONS, PLEASE CALL ME.
--------------------------------------------------------------------------------
               (818) 848 - 6022
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
               THANK YOU
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
               MEL BESHEER
--------------------------------------------------------------------------------
               RESIDUALS
================================================================================
IF THE ENCLOSED WORKSHEET REQUIRES ANY CHANGES PLEASE LIST BELOW:
================================================================================

________________________________________________________________________________

________________________________________________________________________________

________________________________________________________________________________

________________________________________________________________________________

CHANGES REQUESTED BY:___________________________       DATE: _________________

     FINAL APPROVAL BY: /s/ Shinaan S. Krakowsky       DATE:   4/24/97
                      --------------------------             -----------------
      PROCESS CHECKS?: Yes                             DATE:   4/24/97
                      --------------------------             -----------------



<PAGE>
 
[LETTERHEAD OF CAST & CREW TALENT SERVICES, INC.] 

GREYSTONE COMMUNICATIONS, INC.                     Invoice: 333418
ATTN: SHINAAN KRAKOWSKY
4705 LAUREL CANYON BLVD.                              Date: 04/04/97
5TH FLOOR                                            Terms: C.O.D. 
VALLEY VILLAGE, CA 91607                           Contact: mel 
                                                    Client: 789/3 
                                                              
       
   Payroll charges for RES.SAG FOREIGN BUYOUT 35% for week ending 04/05/97.

                               MYSTERY OF ANGELS        #1520

<TABLE> 
------------------------------------------------------------------------------
<S>                      <C>                                      <C>    
DUKE, PATTY              ACTORS, ACTRE Flat amount                   943.60
LEBER, JAMES J.          ACTORS, ACTRE Flat amount                   169.75
------------------------ ------------- ------------------------- ------------- 

GROSS WAGES                                                        1,113.35  

PAYROLL TAXES FICA               6.20% on $1,113.35                   69.02  
PAYROLL TAXES Medicare           1,45% on $1,113.35                   16.14 
PAYROLL TAXES FUI                0.80% on $1,113.35                    8.91
PAYROLL TAXES CA SUI             5.40% on $943.60                     50.95
PAYROLL TAXES NY SUI             5.40% on $169.75                      9.17
SAC PHW                         12.80% on $1,113.35                  142.51

HANDLING                       Flat amount                             4.00
HANDLING                         1.50% on $943.60                     14.15 

TOTAL FRINGE                                                         314.85

TOTAL AMOUNT DUE                                                  $1,428.20
                                                                 ============
</TABLE> 


<PAGE>
 

<TABLE> 
<CAPTION>   
================================================================================================================================
04/08/97                                              Cast & Crew Talent                                                 Page 1 
10:55 am                                         -- Employee Fringe Report--                                           [fringe]
================================================================================================================================
<S>                  <C>     <C>                                           <C>                               <C>       <C> 
      Batch number:   94078
    Invoice Number:  333418  Week Ending:04/05/97 
Production Company:     789  GREYSTONE COMMUNICATIONS, INC.
           Project:       3  MYSTERY OF ANGELS
 
DUKE,PATTY                         ###-##-####    M/S: S  EXM: 1                YTD GROSS:      1,078.40      GROSS:    943.60
                                                  RES ST: CA  WORK ST: CA                                       NET:    638.16
       GREYSTONE COMMUNICATIONS, INC. MYSTERY OF ANGELS                          SAG ACTORS, ACTRESSES
                   EARNINGS                     943.60   TAXES             130.68   PENSION                  120.78
                   -----------------------------------   ------------------------   -------------------------------
Chk: 0             Residual                     943.60   FICA               72.18   HANDLING                  14.15
                                                                                    -------------------------------
Seq: 70185047                                            FUI                 7.55   
Check Date:                                              SUI                50.95   Outstanding Vac            0.00
WkEnd  Date: 04/05/97                                                               Outstanding Hol            0.00
Invoice #: 333418
                                                                                   

                          ACCOUNT            SER   LOC   SET   INS   FREE   HOURS           AMOUNT 
                          ------------------ ----  ----  ----  ----  ---- -------   --------------
                                                                             0.00         1,209.21 
 ....................................................................................................................................
LEBER, JAMES J.                      ###-##-####   M/S:  S  EXM: 1            YTD GROSS:        194.00        GROSS:    169.75
                                                   RES  ST  NY  WORK ST: NY                                     NET:    145.34
          GREYSTONE COMMUNICATIONS, INC. MYSTERY OF ANGELS                      SAG ACTORS, ACTRESSES
                      EARNINGS                      169.75  TAXES           23.51   PENSION                   21.73
                      ------------------------------------  ---------------------   -------------------------------
Chk: 0                Residual                      169.75  FICA            12.98   HANDLING                   4.00
                                                                                    -------------------------------  
Seq: 70185046                                               FUI              1.36       
Check Date:                                                 SUI              9.17   Outstanding vac            0.00
WkEnd Date: 04/05/97                                                                Outstanding Hol            0.00
Invoice #: 333418

                          ACCOUNT            SER   LOC   SET   INC   FREE   HOURS           AMOUNT
                          ------------------ ----  ----  ----  ----  ---- -------    -------------
                                                                             0.00           218.99
 ....................................................................................................................................

GRAND TOTAL                                                                                                   GROSS:  1,113.35
                                                                                                                NET:    783.50
                      EARNINGS                    1,113.35  TAXES        154.19      PENSION                 142.51
                      ------------------------------------  -------------------     ---------------------------------  
                      Residual                    1,113.35  FICA          85.16      HANDLING                 18.15
                                                                                    ---------------------------------  
                                                            FUI            8.91   
                                                            SUI           60.12

                           ACCOUNT           SER    LOC  SET    INC  FREE  HOURS           AMOUNT
                          ------------------ ----  ----  ----  ----  ---- --------  ---------------
                                                                             0.00          1,428.20


====================================================================================================================================
                                              --- End Of Employee Fringe Report ---
====================================================================================================================================
</TABLE> 
<PAGE>
 
               CAST & CREW RESIDUAL CAST CONFIRMATION REQUEST
-------------------------------------------------------------------------------

     CLIENT:   GREYSTONE COMMUNICATIONS INC        DATE: 04/08/97
               ----------------------------             ------------------------
PRODUCTION :   ANGELS: POWER OF ANGELS          EPISODE: _______________________
               -----------------------   
      TYPE :   35% FOREIGN BUYOUT                  # 1522
               ------------------
===============================================================================
CAST & CREW WILL NEED THE FOLLOWING INFORMATION BEFORE WE CAN COMPLETE THE
ABOVE MENTIONED RESIDUALS:
================================================================================
               DEAR SHINAAN,
--------------------------------------------------------------------------------
 
--------------------------------------------------------------------------------
               HERE IS INVOICE 333452.
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
               IF THERE ARE NO CHANGES, PLEASE SIGN BELOW AND RETURN TO ME.
--------------------------------------------------------------------------------
               FAX (818) 848 - 9484
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
               WHEN WE RECEIVE THIS FORM AND PAYMENT, CHECKS WILL THEN BE
--------------------------------------------------------------------------------
               PROCESSED.
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
               IF YOU HAVE ANY QUESTIONS, PLEASE CALL ME.
--------------------------------------------------------------------------------
               (818) 848 - 6022
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
               THANK YOU
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
               MEL BESHEER 
--------------------------------------------------------------------------------
               RESIDUALS
================================================================================
IF THE ENCLOSED WORKSHEET REQUIRES ANY CHANGES PLEASE LIST BELOW:
================================================================================

________________________________________________________________________________

________________________________________________________________________________

________________________________________________________________________________

________________________________________________________________________________


CHANGES REQUESTED BY:_______________________     DATE: _________________________

  FINAL APPROVAL BY: /s/ Shinaan S. Krakowsky    DATE:   4/24/97
                   --------------------------          -------------------------

     PROCESS CHECKS?:     Yes                    DATE:   4/24/97
                   -------------------------           -------------------------



<PAGE>
 
[LETTERHEAD OF CAST & CREW TALENT SERVICES, INC.]


GREYSTONE COMMUNICATIONS, INC.                              Invoice:  333452
ATTN:  SHINAAN KRAKOWSKY 
4705 LAUREL CANYON BLVD.                                       Date:  04/04/97
5TH FLOOR                                                     Terms:  C.O.D
VALLEY VILLAGE, CA 91607                                    Contact:  mel
                                                             Client:  789/4
                                                               
     Payroll charges for Res.SAG FOREIGN BUYOUT 35% for week ending 05/05/97.



                             POWER OF ANGELS  #1522

<TABLE> 
------------------------------------------------------------------------------
<S>                        <C>                                    <C> 
ANGELINA, DIANA            ACTORS, ACTRE Flat amount                176.40
BROCK, PHILLIP L.          ACTORS, ACTRE Flat amount                176.40
BRONSON, KIMBERLI          ACTORS, ACTRE Flat amount                352.80
BUCKNER, INA               ACTORS, ACTRE Flat amount                176.40
FULLER, WILLIAM            ACTORS, ACTRE Flat amount                176.40
HUTTON, PATRICIA B.        ACTORS, ACTRE Flat amount                176.40
JOHNSON, BOBBY             ACTORS, ACTRE Flat amount                352.80
KOVAL, BARBARA A           ACTORS, ACTRE Flat amount                352.80
LILLY, ROBIN               ACTORS, ACTRE Flat amount                882.00
MAC GREEVY, THOMAS         ACTORS, ACTRE Flat amount                352.80
MINOR, ROBERT L.           ACTORS, ACTRE Flat amount                352.80
MIRAULT, DON               ACTORS, ACTRE Flat amount                176.40
MONROE, STEVE              ACTORS, ACTRE Flat amount                176.40
NEALY, FRANCES             ACTORS, ACTRE Flat amount                176.40
NELSON, STUART             ACTORS, ACTRE Flat amount                176.40
SEAMAN, RICK               ACTORS, ACTRE Flat amount                176.40
WELCH, LATONYA             ACTORS, ACTRE Flat amount                176.40
YOAKIM VALLEY PRODUCTION   ACTORS, ACTRE Flat amount                613.20
------------------------   ------------------------------------- -------------

GROSS WAGES                                                       5,199.60

PAYROLL TAXES FICA                6.20% on $4,586.40                284.37
PAYROLL TAXES Medicare            1.45% on $4,586.40                 66.55
PAYROLL TAXES FUI                 0.80% on $4,586.40                 36.66
PAYROLL TAXES CA SUI              5.40% on $4,233.60                228.66
PAYROLL TAXES FL SUI              5.40% on $352.80                   19.05  
SAG PHW                          12.80% on $5,199.60                665.57 
</TABLE> 
<PAGE>
 
[LETTERHEAD OF CAST & CREW TALENT SERVICES,INC.] 


Invoice #333452 (continued)                                          Page 2

HANDLING                       $4.00 flat X 11                       44.00 
HANDLING                        1.50% on $3,259.20                   48.00

TOTAL FRINGE                                                      1,393.74
 
TOTAL AMOUNT DUE                                                 $6,593.34 
                                                                ============










<PAGE>
 
<TABLE> 
<CAPTION> 
====================================================================================================================================

04/08/97                                              Cast & Crew Talent                                                      Page 1
 1:58 pm                                         -- Employee Fringe Report --                                               [fringe]

====================================================================================================================================
<S>                                <C>            <C>                              <C>                <C>                     <C> 
      Batch number:       94097
    Invoice number:      333452     Week Ending: 05/05/97
Production Company:         789     GREYSTONE COMMUNICATIONS, INC.
           Project:           4     POWER OF ANGELS

ANGELINA, DIANA                    ###-##-####    M/S: S  EXM: 1                    YTD GROSS:        176.40  GROSS:          176.40
                                                  RES ST: CA  WORK ST: CA                                       NET:          150.53
          GREYSTONE COMMUNICATIONS, INC. POWER OF ANGELS                           SAG ACTORS, ACTRESSES
                      EARNINGS                 176.40  TAXES                   24.44  PENSION                22.58
                      -------------------------------  -----------------------------  ----------------------------
Chk: 0                Residual                 176.40  FICA                    13.50  HANDLING                4.00
                                                                                      ----------------------------
Seq: 70185527                                          FUI                      1.41
Check Date:                                            SUI                      9.53  Outstanding Vac         0.00
WkEnd Date: 05/05/97                                                                  Outstanding Hol         0.00
Invoice #: 333452

                          ACCOUNT             SER  LOC  SET  INS  FREE       HOURS       AMOUNT
                          ------------------- ---- ---- ---- ---- ---- -----------  -----------
                                                                              0.00       227.42
 ....................................................................................................................................

BROCK, PHILLIP L.                  ###-##-####    M/S: S  EXM: 1                    YTD GROSS:        176.40  GROSS:          176.40
                                                  RES ST: CA  WORK ST: CA                                       NET:          150.53
          GREYSTONE COMMUNICATIONS, INC. POWER OF ANGELS                           SAG ACTORS, ACTRESSES
                      EARNINGS                 176.40  TAXES                   24.44  PENSION                22.58
                      -------------------------------  -----------------------------  ----------------------------
Chk: 0                Residual                 176.40  FICA                    13.50  HANDLING                4.00
                                                                                      ----------------------------
Seq: 70185527                                          FUI                      1.41
Check Date:                                            SUI                      9.53  Outstanding Vac         0.00
WkEnd Date: 05/05/97                                                                  Outstanding Hol         0.00
Invoice #: 333452

                          ACCOUNT              SER  LOC  SET  INS  FREE       HOURS       AMOUNT
                          -------------------- ---- ---- ---- ---- ---- -----------  -----------
                                                                               0.00       227.42
 ....................................................................................................................................

BRONSON, KIMBERLI                  ###-##-####    M/S: S  EXM: 1                    YTD GROSS:        352.80  GROSS:          352.80
                                                  RES ST: FL  WORK ST: FL                                       NET:          288.18
          GREYSTONE COMMUNICATIONS, INC. POWER OF ANGELS                           SAG ACTORS, ACTRESSES
                      EARNINGS                 352.80  TAXES                   48.86  PENSION                45.16
                      -------------------------------  -----------------------------  ----------------------------
Chk: 0                Residual                 352.80  FICA                    26.99  HANDLING                5.29
                                                                                      ----------------------------
Seq: 70185516                                          FUI                      2.82
Check Date:                                            SUI                     19.05  Outstanding Vac         0.00
WkEnd Date: 05/05/97                                                                  Outstanding Hol         0.00
Invoice #: 333452

                          ACCOUNT              SER  LOC  SET  INS  FREE       HOURS       AMOUNT
                          -------------------- ---- ---- ---- ---- ---- -----------  -----------
                                                                               0.00       452.11
 ....................................................................................................................................
</TABLE> 
 
<PAGE>
 
<TABLE> 
<CAPTION> 
====================================================================================================================================

04/08/97                                              Cast & Crew Talent                                                      Page 2
                                                 -- Employee Fringe Report --                                               [fringe]

====================================================================================================================================
<S>                                <C>            <C>                              <C>                <C>                     <C> 
BUCKNER, INA                       ###-##-####    M/S: S  EXM: 1                    YTD GROSS:        176.40  GROSS:          176.40
                                                  RES ST: CA  WORK ST: CA                                       NET:          150.53
          GREYSTONE COMMUNICATIONS, INC. POWER OF ANGELS                           SAG ACTORS, ACTRESSES
                      EARNINGS                 176.40  TAXES                   24.44  PENSION                22.58
                      -------------------------------  -----------------------------  ----------------------------
Chk: 0                Residual                 176.40  FICA                    13.50  HANDLING                4.00
                                                                                      ----------------------------
Seq: 70185541                                          FUI                      1.41
Check Date:                                            SUI                      9.53  Outstanding Vac         0.00
WkEnd Date: 05/05/97                                                                  Outstanding Hol         0.00
Invoice #: 333452

                          ACCOUNT          SER  LOC  SET  INS  FREE       HOURS       AMOUNT
                          ---------------- ---- ---- ---- ---- ---- -----------  -----------
                                                                           0.00       227.42
 ....................................................................................................................................
FULLER, WILLIAM                    ###-##-####    M/S: S  EXM: 1                    YTD GROSS:        176.40  GROSS:          176.40
                                                  RES ST: CA  WORK ST: CA                                       NET:          150.53
          GREYSTONE COMMUNICATIONS, INC. POWER OF ANGELS                           SAG ACTORS, ACTRESSES
                      EARNINGS                 176.40  TAXES                   24.44  PENSION                22.58
                      -------------------------------  -----------------------------  ----------------------------
Chk: 0                Residual                 176.40  FICA                    13.50  HANDLING                4.00
                                                                                      ----------------------------
Seq: 70185521                                          FUI                      1.41
Check Date:                                            SUI                      9.53  Outstanding Vac         0.00
WkEnd Date: 05/05/97                                                                  Outstanding Hol         0.00
Invoice #: 333452

                          ACCOUNT          SER  LOC  SET  INS  FREE       HOURS       AMOUNT
                          ---------------- ---- ---- ---- ---- ---- -----------  -----------
                                                                           0.00       227.42
 ....................................................................................................................................
HUTTON, PATRICIA B.                ###-##-####    M/S: M  EXM: 1                    YTD GROSS:        176.40  GROSS:          176.40
                                                  RES ST: CA  WORK ST: CA                                       NET:          161.81
          GREYSTONE COMMUNICATIONS, INC. POWER OF ANGELS                           SAG ACTORS, ACTRESSES
                      EARNINGS                 176.40  TAXES                   24.44  PENSION                22.58
                      -------------------------------  -----------------------------  ----------------------------
Chk: 0                Residual                 176.40  FICA                    13.50  HANDLING                4.00
                                                                                      ----------------------------
Seq: 70185524                                          FUI                      1.41
Check Date:                                            SUI                      9.53  Outstanding Vac         0.00
WkEnd Date: 05/05/97                                                                  Outstanding Hol         0.00
Invoice #: 333452

                          ACCOUNT          SER  LOC  SET  INS  FREE       HOURS       AMOUNT
                          ---------------- ---- ---- ---- ---- ---- -----------  -----------
                                                                           0.00       227.42
 ....................................................................................................................................
JOHNSON, BOBBY                     ###-##-####    M/S: S  EXM: 1                    YTD GROSS:        352.80  GROSS:          352.80
                                                  RES ST: CA  WORK ST: CA                                       NET:          280.96
          GREYSTONE COMMUNICATIONS, INC. POWER OF ANGELS                           SAG ACTORS, ACTRESSES
                      EARNINGS                 352.80  TAXES                   48.86  PENSION                45.16
                      -------------------------------  -----------------------------  ----------------------------
Chk: 0                Residual                 352.80  FICA                    26.99  HANDLING                5.29
                                                                                      ----------------------------
Seq: 70185528                                          FUI                      2.82
Check Date:                                            SUI                     19.05  Outstanding Vac         0.00
WkEnd Date: 05/05/97                                                                  Outstanding Hol         0.00
Invoice #: 333452

                          ACCOUNT          SER  LOC  SET  INS  FREE       HOURS       AMOUNT
                          ---------------- ---- ---- ---- ---- ---- -----------  -----------
                                                                          0.00        452.11
 ....................................................................................................................................
</TABLE> 


<PAGE>
 
<TABLE> 
<CAPTION> 
====================================================================================================================================

04/08/97                                              Cast & Crew Talent                                                      Page 3
                                                 -- Employee Fringe Report --                                               [fringe]
                                                                                                      
====================================================================================================================================
<S>                                <C>            <C>                          <C>                    <C>                     <C> 
KOVAL, BARBARA A.                  ###-##-####    M/S: S  EXM: 999                  YTD GROSS:        352.80  GROSS:          352.80
                                                  RES ST: CA  WORK ST: CA                                       NET:          324.05
          GREYSTONE COMMUNICATIONS, INC. POWER OF ANGELS                           SAG ACTORS, ACTRESSES
                      EARNINGS                 352.80  TAXES                   48.86  PENSION                45.16
                      -------------------------------  -----------------------------  ----------------------------
Chk: 0                Residual                 352.80  FICA                    26.99  HANDLING                5.29
                                                                                      ----------------------------
Seq: 70185519                                          FUI                      2.82
Check Date:                                            SUI                     19.05  Outstanding Vac         0.00
WkEnd Date: 05/05/97                                                                  Outstanding Hol         0.00
Invoice #: 333452

                          ACCOUNT          SER  LOC  SET  INS  FREE       HOURS       AMOUNT
                          ---------------- ---- ---- ---- ---- ---- -----------  -----------
                                                                           0.00       452.11
 ....................................................................................................................................

LILLY, ROBIN                       ###-##-####    M/S: S  EXM: 1                    YTD GROSS:        882.00  GROSS:          882.00
                                                  RES ST: CA  WORK ST: CA                                       NET:          604.56
          GREYSTONE COMMUNICATIONS, INC. POWER OF ANGELS                           SAG ACTORS, ACTRESSES
                      EARNINGS                 882.00  TAXES                  122.15  PENSION               112.90
                      -------------------------------  -----------------------------  ----------------------------
Chk: 0                Residual                 882.00  FICA                    67.47  HANDLING               13.23
                                                                                      ----------------------------
Seq: 70185511                                          FUI                      7.05
Check Date:                                            SUI                     47.63  Outstanding Vac         0.00
WkEnd Date: 05/05/97                                                                  Outstanding Hol         0.00
Invoice #: 333452

                          ACCOUNT          SER  LOC  SET  INS  FREE       HOURS       AMOUNT
                          ---------------- ---- ---- ---- ---- ---- -----------  -----------
                                                                           0.00     1,130.28
 ....................................................................................................................................

MAC GREEVY, THOMAS                 ###-##-####    M/S: S  EXM: 1                    YTD GROSS:        352.80  GROSS:          352.80
                                                  RES ST: CA  WORK ST: CA                                       NET:          280.96
          GREYSTONE COMMUNICATIONS, INC. POWER OF ANGELS                           SAG ACTORS, ACTRESSES
                      EARNINGS                 352.80  TAXES                   48.86  PENSION                45.16
                      -------------------------------  -----------------------------  ----------------------------
Chk: 0                Residual                 352.80  FICA                    26.99  HANDLING                5.29
                                                                                      ----------------------------
Seq: 70185515                                          FUI                      2.82
Check Date:                                            SUI                     19.05  Outstanding Vac         0.00
WkEnd Date: 05/05/97                                                                  Outstanding Hol         0.00
Invoice #: 333452

                          ACCOUNT          SER  LOC  SET  INS  FREE       HOURS       AMOUNT
                          ---------------- ---- ---- ---- ---- ---- -----------  -----------
                                                                           0.00       452.11
 ....................................................................................................................................

MINOR, ROBERT L.                   ###-##-####    M/S: M  EXM: 9                    YTD GROSS:        352.80  GROSS:          352.80
                                                  RES ST: CA  WORK ST: CA                                       NET:          324.05
          GREYSTONE COMMUNICATIONS, INC. POWER OF ANGELS                           SAG ACTORS, ACTRESSES
                      EARNINGS                 352.80  TAXES                   48.86  PENSION                45.16
                      -------------------------------  -----------------------------  ----------------------------
Chk: 0                Residual                 352.80  FICA                    26.99  HANDLING                5.29
                                                                                      ----------------------------
Seq: 70185531                                          FUI                      2.82
Check Date:                                            SUI                     19.05  Outstanding Vac         0.00
WkEnd Date: 05/05/97                                                                  Outstanding Hol         0.00
Invoice #: 333452

                          ACCOUNT          SER  LOC  SET  INS  FREE       HOURS       AMOUNT
                          ---------------- ---- ---- ---- ---- ---- -----------  -----------
                                                                           0.00       452.11
 ....................................................................................................................................
</TABLE> 
 
<PAGE>
 
<TABLE> 
<CAPTION> 
====================================================================================================================================

04/08/97                                              Cast & Crew Talent                                                      Page 4
                                                 -- Employee Fringe Report --                                               [fringe]

====================================================================================================================================
<S>                                <C>            <C>                              <C>                <C>                     <C> 
MIRAULT, DON                       ###-##-####    M/S: S  EXM: 1                    YTD GROSS:        176.40  GROSS:          176.40
                                                  RES ST: CA  WORK ST: CA                                       NET:          150.53
          GREYSTONE COMMUNICATIONS, INC. POWER OF ANGELS                           SAG ACTORS, ACTRESSES
                      EARNINGS                 176.40  TAXES                   24.44  PENSION                22.58
                      -------------------------------  -----------------------------  ----------------------------
Chk: 0                Residual                 176.40  FICA                    13.50  HANDLING                4.00
                                                                                      ----------------------------
Seq: 70185523                                          FUI                      1.41
Check Date:                                            SUI                      9.53  Outstanding Vac         0.00
WkEnd Date: 05/05/97                                                                  Outstanding Hol         0.00
Invoice #: 333452

                          ACCOUNT              SER   LOC  SET  INS  FREE       HOURS       AMOUNT
                          -------------------  ----- ---- ---- ---- ---- -----------  -----------
                                                                                0.00       227.42
 ....................................................................................................................................

MONROE, STEVE                      ###-##-####    M/S: S  EXM: 1                    YTD GROSS:        176.40  GROSS:          176.40
                                                  RES ST: CA  WORK ST: CA                                       NET:          150.53
          GREYSTONE COMMUNICATIONS, INC. POWER OF ANGELS                           SAG ACTORS, ACTRESSES
                      EARNINGS                 176.40  TAXES                   24.44  PENSION                22.58
                      -------------------------------  -----------------------------  ----------------------------
Chk: 0                Residual                 176.40  FICA                    13.50  HANDLING                4.00
                                                                                      ----------------------------
Seq: 70185538                                          FUI                      1.41
Check Date:                                            SUI                      9.53  Outstanding Vac         0.00
WkEnd Date: 05/05/97                                                                  Outstanding Hol         0.00
Invoice #: 333452

                          ACCOUNT               SER  LOC  SET  INS  FREE       HOURS       AMOUNT
                          --------------------- ---- ---- ---- ---- ---- -----------  -----------
                                                                                0.00       227.42
 ....................................................................................................................................

NEALY, FRANCES                     ###-##-####    M/S: S  EXM: 1                    YTD GROSS:        176.40  GROSS:          176.40
                                                  RES ST: CA  WORK ST: CA                                       NET:          150.53
          GREYSTONE COMMUNICATIONS, INC. POWER OF ANGELS                           SAG ACTORS, ACTRESSES
                      EARNINGS                 176.40  TAXES                   24.44  PENSION                22.58
                      -------------------------------  -----------------------------  ----------------------------
Chk: 0                Residual                 176.40  FICA                    13.40  HANDLING                4.00
                                                                                      ----------------------------
Seq: 70185536                                          FUI                      1.41
Check Date:                                            SUI                      9.53  Outstanding Vac         0.00
WkEnd Date: 05/05/97                                                                  Outstanding Hol         0.00
Invoice #: 333452

                          ACCOUNT               SER  LOC  SET  INS  FREE       HOURS       AMOUNT
                          --------------------- ---- ---- ---- ---- ---- -----------  -----------
                                                                                0.00       227.42
 ....................................................................................................................................

NELSON, STUART                     ###-##-####    M/S: S  EXM: 1                    YTD GROSS:        176.40  GROSS:          176.40
                                                  RES ST: CA  WORK ST: CA                                       NET:          150.53
          GREYSTONE COMMUNICATIONS, INC. POWER OF ANGELS                           SAG ACTORS, ACTRESSES
                      EARNINGS                 176.40  TAXES                   24.44  PENSION                22.58
                      -------------------------------  -----------------------------  ----------------------------
Chk: 0                Residual                 176.40  FICA                    13.50  HANDLING                4.00
                                                                                      ----------------------------
Seq: 70185518                                          FUI                      1.41
Check Date:                                            SUI                      9.53  Outstanding Vac         0.00
WkEnd Date: 05/05/97                                                                  Outstanding Hol         0.00
Invoice #: 333452

                          ACCOUNT               SER  LOC  SET  INS  FREE       HOURS       AMOUNT
                          --------------------- ---- ---- ---- ---- ---- -----------  -----------
                                                                                0.00       227.42
 ....................................................................................................................................
</TABLE> 
 
<PAGE>
 
<TABLE> 
<CAPTION> 
====================================================================================================================================
04/08/97                                                    Cast & Crew Talent                                         Page 5
                                                       -- Employee Fringe Report --                                   [fringe]
====================================================================================================================================
<S>                                <C>            <C>                         <C>                                     <C> 
POWERS, STEFANIE                   ###-##-####    M/S:    EXM: 0              YTD GROSS:          613.20 GROSS:       613.20
YOAKIM VALLEY PRODUCTIONS          95-3755629     RES ST: CA WORK ST: CA                                   NET:       613.20
          GREYSTONE COMMUNICATIONS, INC. POWER OF ANGELS                    SAG ACTORS, ACTRESSES
                    EARNINGS                       613.20                      PENSION                   78.49
                    -------------------------------------                      -------------------------------
Chk: 0              Residual                       613.20                      HANDLING                   9.20
Seq: 70185546                                                                  -------------------------------
Check Date:                                                                    outstanding Vac            0.00
WkEnd Date: 05/05/97                                                           outstanding Hol            0.00
Invoice #: 333452

                              ACCOUNT           SER  LOC  SET  INS  FREE   HOURS     AMOUNT
                              ----------------  ---- ---- ---- ---- ---- ------- ----------
                                                                          0.00       700.89
 ....................................................................................................................................

SEAMAN, RICK                           ###-##-####   M/S: M  EXM: 9             YTD GROSS:     176.40    GROSS:       176.40
                                                     RES ST: CA WORK ST: CA                                NET:       162.02
          GREYSTONE COMMUNICATIONS, INC. POWER OF ANGELS                       SAG ACTORS, ACTRESSES
                    EARNINGS                       176.40   TAXES          24.44  PENSION                22.58
                    -------------------------------------   --------------------  ----------------------------
Chk: 0              Residual                       176.40   FICA           13.50  HANDLING                4.00
                                                                                  ----------------------------
Seq: 70185533                                               FUI             1.41  
Check Date:                                                 SUI             9.53  outstanding Vac         0.00
WKEnd Date: 05/05/97                                                              outstanding Hol         0.00
Invoice #: 333452

                              ACCOUNT           SER  LOC  SET  INS  FREE   HOURS     AMOUNT
                              ----------------  ---- ---- ---- ---- ---- ------- ----------
                                                                          0.00       227.42
 ....................................................................................................................................

WELCH, LATONYA                         ###-##-####   M/S: S  EXM: 1             YTD GROSS:     176.40    GROSS:       176.40
                                                     RES ST: CA WORK ST: CA                                NET:       150.53
          GREYSTONE COMMUNICATIONS, INC. POWER OF ANGELS                       SAG ACTORS, ACTRESSES
                    EARNINGS                       176.40   TAXES          24.44  PENSION                22.58
                    -------------------------------------   --------------------  ----------------------------
Chk: 0              Residual                       176.40   FICA           13.50  HANDLING                4.00
                                                                                  ----------------------------
Seq: 70185534                                               FUI             1.41  
Check Date:                                                 SUI             9.53  outstanding Vac         0.00
WKEnd Date: 05/05/97                                                              outstanding Hol         0.00
Invoice #: 333452

                              ACCOUNT           SER  LOC  SET  INS  FREE   HOURS     AMOUNT
                              ----------------  ---- ---- ---- ---- ---- ------- ----------
                                                                          0.00       227.42                        
 ....................................................................................................................................

GRAND TOTAL                                                                                              GROSS:     5,199.60
                                                                                                           NET:     4,394.56
                    EARNINGS                     5,199.60   TAXES         635.29  PENSION               665.57
                    -------------------------------------   --------------------  ----------------------------
                    Residual                     5,199.60   FICA          350.92  HANDLING               92.88
                                                                                  ----------------------------
                                                            FUI            36.66
                                                            SUI           247.71  
                                                                                                      
                    
                              ACCOUNT           SER  LOC  SET  INS  FREE   HOURS     AMOUNT
                              ----------------  ---- ---- ---- ---- ---- ------- ----------
                                                                            0.00   6,593.34

====================================================================================================================================
                                             --- End of Employee Fringe Report ---
====================================================================================================================================
</TABLE> 
<PAGE>
 
GREYSTONE COMMUNICATIONS, INC.                    Date  04-22-97 Check No.  6294

Vendor: CAST
--------------------------------------------------------------------------------
Inv Date  Inv No.   Description                   Invoice Amt  Discount  Payment
--------------------------------------------------------------------------------

04-04-97  333452    ANGELS II (POWER OF ANGELS)   6,593.34      0.00    6,593.34
04-04-97  333455    ANGELS II POWER OF ANGELS     1,449.96      0.00    1,449.96
04-04-97  333418    ANGELS I MYSTERY OF ANGELS    1,428.20      0.00    1,428.20
04-04-97  333404    ANGELS I MYSTERY OF ANGELS    1,631.68      0.00    1,631.68
04-04-97  333428    ANGELS I MYSTERY OF ANGELS    9,797.99      0.00    9,797.99

--------------------------------------------------------------------------------

                             [CHEQUE APPEARS HERE]
<PAGE>
 
May 29, 1997


For valid consideration, receipt of which is hereby acknowledged, Kensington 
Lane Entertainment, Inc. and American Artists Film Corporation hereby agree as 
follows:

1. Kensington Lane agrees to be bound by the indemnity provisions in favor of
American Artists contained in Paragraphs 5.b)and 5.c) of the agreement dated May
29, 1997 between Greystone Communications, Inc. and American Artists
("Agreement"), solely as it applies to any claims by the Writers Guild of
America.

2. Kensington Lane and American Artists as against each other, each agree to be
bound as Releasing and Released Parties, and otherwise agree to be bound by the
provisions of Paragraph 1, 6, 8, and 9-18 of the Agreement.

Kensington Lane Entertainment, Inc.           American Artists Film Corporation

By  /s/ Shinaan S. Krakowksy                  By  /s/ J. Eric Van Atta 
  --------------------------------              -------------------------------
   Authorized Officer                            Authorized Officer