<PAGE>
 
                        DEPOSIT GUARANTY NATIONAL BANK
                             JACKSON, MISSISSIPPI
                                PROMISSORY NOTE

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                                               Borrower Number    Note Number
                                             ----------------------------------
                                                   1156611          0535401
                                             ----------------------------------
American Artists Film Corporation
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Borrower Name(s)
                                    Amount of Note         Loan Type
1245 Fowler Street N.W.             
---------------------------------   $69,183.95             223          
Address                             ------------------     ------------- 
                                    
Atlanta, GA                         
---------------------------------   Date of Note    Date Due         Term Days
City     State                      
                                    May 20, 1997    Nov. 17, 1997    181       
30318                               -------------   -------------    ---------  
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Zip Code

        181 days             after date, the undersigned (jointly and severally,
        --------------------
if more than one) hereinafter called Maker, promises to pay to DEPOSIT GUARANTY 
NATIONAL BANK, Jackson, Mississippi, or order, payable at Main Office or any 
Branch Sixty Nine Thousand One Hundred Eighty Three and 95/100          Dollars
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with interest thereon from date until paid at the per annum rate of: 8.75%
                                                                     -------

This note is payable in monthly instalments of $3000.00 INCLUDING INTEREST 
beginning June 20, 1997 and on the 20th day of each succeeding month with the 
remaining unpaid principal plus accrued interest due and payable at maturity. 
Failure to pay any instalment as and when due shall, at the option of the 
holder, mature the entire indebtedness.

In the event any installment payment of principal and/or interest is more than 
fifteen (15) days past due, Maker promises to pay a late payment charge of $5.00
or four (4%) percent of the amount of the delinquency, whichever is greater. On 
loans of $100,000.00 or less having stated maturity of five years or less, the 
late payment charge shall not exceed $50.00.

At its option, and at one or more times, Bank may, but shall have no obligation
to, debit any deposit account of any Obligor with Bank for all or any part of
any sums then due and payable to Bank hereunder.





        Maker has Pledged to Bank as collateral for payment of this and any and 
all other liabilities, direct or indirect, absolute or contingent, due or to 
become due, now existing or hereafter arising (all hereinafter called 
"obligation"), the following property listed below, hereinafter called 
Collateral:


        UNSECURED


                               Page 1 of 3 Pages

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        Any pledge or transferee of this note and the Collateral shall have all 
rights of Bank hereunder and Bank shall thereafter be relieved from any 
liability with respect to any Collateral so pledged or delivered.

        Maker will at all times keep the collateral insured at all times against
all insurable hazards in amounts equal to the full cash value of the collateral.
Such insurance shall be with insurance carriers which are qualified to do 
business in Mississippi and in good standing with the Mississippi Department of 
Insurance, and shall provide for payment of all losses thereunder to Bank as its
interest may appear, and, if required, Maker will deposit the policies of
insurance with Bank. Any money received by Bank under said policies may be
applied to the payment of the indebtedness secured hereby with such payment
supplied first to interest, then to principal and any other charges, whether or
not due and payable, or at Bank's option, may be delivered by Bank to Maker for
the purpose of repairing or restoring the collateral. Maker hereby assigns to
Bank all rights to receive proceeds of insurance not exceeding the amount of
Maker's indebtedness to bank, direct any insurer to pay all proceeds directly to
Bank, and appoints Bank as its attorney-in-fact to endorse any draft or check
made payable to Maker in order to collect the benefit of any such insurance.
Prior to the expiration or cancellation date of Maker's insurance policy on the
collateral, Maker shall provide Bank with a renewal or replacement policy having
an effective date the same as the expiration or cancellation date on Maker's
prior policy and meeting the same requirements as stated hereinabove.

        If Maker fails to keep the collateral insured as required by Bank, such 
failure shall be a default under the terms and conditions of this note. In 
addition, Bank may, at its option, and in addition to any other rights and 
remedies the Bank may have under this note or any other agreement with Maker, 
purchase insurance at Maker's expense to protect Bank's interest continuously 
retroactive to the date of expiration or cancellation of Maker's policy for 
Maker's failure to keep the collateral insured. If Bank chooses to purchase 
insurance upon Maker's failure to keep the collateral insured, Bank will notify 
Maker about the types and amounts of the coverages at the time Bank purchases 
such insurance. In addition,the insurance that the Bank purchases likely will 
not provide all of the insurance coverage which Maker might normally obtain on 
its own, such as liability coverage or coverage for any equity which Maker may 
have in the collateral. Also, the deductibles may not be the same as the 
deductibles contained in a policy which Maker might normally obtain on its own.

        The insurance the Bank purchases likely will not be purchased through 
the same carrier and/or agent from which Maker might have previously purchased 
insurance on the collateral, and in most cases, the cost of the insurance will 
be significantly higher than the insurance which Maker might obtain on its own. 
If Bank pays for insurance, such payment shall be secured by the collateral, and
shall hear interest at the ANNUAL PERCENTAGE RATE set forth in Maker's Note 
and/or Loan Agreement. Maker agrees to reimburse Bank on demand for any such 
payment, plus accrual interest, or otherwise to pay said sums in any manner of 
installments required by Bank. Maker authorizes Bank to forward any information 
which Bank deems necessary to third parties performing services incidental to 
Bank's rights and duties under this Note and any Security Agreement with Maker, 
including but not limited to, insurance monitoring and placement services.

        Even if Bank purchases insurance on the collateral as set out 
hereinabove, Maker has the right to purchase the required insurance from an 
agent or company of Maker's choice at any time and provide the insurance policy 
to Bank. Upon receipt of such policy, Bank will have the insurance cancelled for
any period during which Maker has the required insurance in force and any refund
will be made to Maker's account.

        Maker shall take all necessary steps to preserve rights against prior 
parties in instruments or chattel paper constituting Collateral and shall be 
responsible generally for its preservation. If the Collateral shall at any time 
become unsatisfactory to Bank, Maker shall within twenty-four hours after 
demand, pledge as part of the Collateral additional property which is 
satisfactory to bank.

        Upon the happening of any of the following events, each of which shall 
constitute a default hereunder, all liabilities of each Maker to Bank shall
become immediately due and payable at the option of Bank: (1) failure of any
Obligor (which shall include each maker, endorser, surety and guarantor of this
note) to perform any agreement hereunder or pay any obligation secured hereby
when due, including without limitation, failure to obtain or maintain any
required insurance on the collateral pledged to secure this note; (2) death of
any Obligor; (3) filing of any petition in bankruptcy by or against any Obligor;
(4) application for appointment of a receiver for, making of a general
assignment for the benefit of creditors by, or solvency of any Obligor; or 
(5) determination by any officer of Bank that a material adverse change has
occurred in the financial condition of any Obligor. Upon occurrence of any such
event or at any time thereafter, Bank shall have the remedies of a secured party
under Uniform Commercial Code of Mississippi. Any notice of sale or other
intended disposition of the Collateral sent to Maker at least five days prior to
such action shall constitute reasonable notice to Maker. Bank may waive any
default before or after the same has been declared without impairing its rights
to declare a subsequent default hereunder, this right being a continuing one.

        In addition, if Maker is in default under this Note, and Maker has 
purchased credit life insurance and/or credit disability insurance in connection
with this Note, then Bank may, at its option, and notwithstanding the terms of 
the policy(ies) and/or certificate(s) governing such insurance, cancel such 
insurance and credit any unearned premium(s) to your outstanding balance under 
the Note.

        Any renewals, extensions and/or modifications of this Note may not 
extend the expiration date of the credit life insurance and/or the credit 
disability insurance written in connection with this Note. You should refer to 
your credit life/credit disability policy and/or certificate to determine the 
expiration date of such insurance.

        This note, or any renewal thereof, may be extended without notice and 
without affecting the liability of any Obligor or any Collateral. The Bank may 
at its discretion surrender any Collateral without affecting the liability of 
any Obligor.

        Bank is hereby given a lien upon and a security interest in any moneys 
or property, including any deposits, at any time in possession of Bank belonging
to each Obligor, all of which shall be treated as security for payment of this 
note. Bank may, at its option in event of default, set off such moneys, property
or deposits against this note or any other obligation of Maker.

                               Page 2 of 3 Pages
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   All Obligors waive protest of this note. If this note is not paid when due,
all Obligors agree to pay all costs and expenses of collection, including
reasonable attorney's fees and legal expenses, all of which are secured by the
Collateral. Bank shall in no event be liable to any party hereto for failure to
collect this note, in whole or in part.

   Any demand upon or notice to Maker shall be sufficiently served for all
purposes if personally delivered or placed in the mail addressed to the address
shown below or such other address as may be shown on the Bank's records.

   In the event that interest on this note is less than $10.00, Maker agrees to 
pay a charge of $10.00 in lieu of interest.

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NOTICE TO COSIGNER

(1)  You are being asked to guarantee this debt.  Think carefully before you do.
If the maker (borrower) does not pay the debt, you will have to.  Be sure you 
can afford to pay if you have to, and that you want to accept this 
responsibility.

(2)  You may have to pay up to the full amount of the debt if the maker 
(borrower) does not pay.  You may also have to pay late fees or collection 
costs, which increase this amount.

(3)  The Bank can collect this debt from you without first trying to collect 
from the maker (borrower).  The Bank can use the collection methods against you 
that can be used against the maker (borrower), such as suing you, garnishing 
your wages, etc.  If this debt is ever in default, that fact may become a part 
of your credit record. 

(4)  This notice is not the contract that makes you liable for the debt.
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                                             American Artists Film Corporation

Primary SSN    Endorser or Co-Signer No.   By: /s/ Glen C. Warren
                                              ----------------------------------
581950450                                     Glen C. Warren, M.D., Board Member

                                           By: /s/ Steven D. Brown
                                              -------------------------------- 
                                              Steven D. Brown, President 

                                           By: /s/ J. Eric Van Atta
                                              -------------------------------- 
                                               J. Eric Van Atta, Vice Pres. 

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