PROMISSORY NOTE
                                REVOLVING CREDIT



                                                             $1,652,106
August 1, 2003                                                ---------
Huntington, New York                                  (Initial Principal Amount)


         FOR VALUE RECEIVED, MURRAY UNITED DEVELOPMENT CORPORATION, a Delaware
corporation (hereinafter referred to as "Borrower"), having a mailing address at
P.O. Box 224, Landing, New Jersey 07850, its successors and/or assigns, promises
to pay to the order of ANTHONY CAMPO (together with his successors and/or
assigns hereinafter referred to as the "Lender") at 17 Seaforth Lane,
Huntington, New York 11743, or at any other address as the Lender may designate,
an aggregate principal amount, which as of the date hereof is ONE MILLION SIX
HUNDRED FIFTY-TWO THOUSAND ONE HUNDRED SIX DOLLARS ($1,652,106). Such principal
amount has been made in one or more disbursements (the "Disbursements") by
Lender to Borrower, or on Borrower's behalf.

A. This Note evidences the Borrower's indebtedness to Lender for all amounts due
and owing as of the data of this Note and supersedes all notes previously
delivered by the Borrower to Lender evidencing all or any portion of such
indebtedness, including but not limited to the Notes dated April 20, 1994,
November 15, 1994, March 24, 1995, October 20, 1995, August 1, 1998, August 1,
2000, August 1, 2001 and August 1, 2002.

B. The Parties agree that any additional Disbursements by Lender to Borrower or
on Borrower's behalf shall be added to the principal balance due to Lender, with
interest to accrue thereon according to the terms and conditions of this Note.

C. The Parties agree that the Lender may accelerate payment of this Note in the
event of a default by Borrower hereunder. In the event that the Lender should
accelerate payment of this Note, the Lender may, without notice or demand,
declare the entire principal amount and all unpaid accrued interest thereon
immediately due and payable.

D. Payments on this Promissory Note shall be made at the address of Lender
contained above, or at any other place Lender designates in writing from time to
time, and shall be made until all of said principal and interest due hereunder
shall be paid in full. Interest shall not accrue on any Disbursements until the
funds are advanced to Borrower's bank account or to third parties on its behalf.


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E. Borrower shall pay interest at a rate of Seven and One-Half percent (7.5%)
per annum on the outstanding principal balance hereunder from the date of this
Note until the last principal payment due under this Note shall be paid.
Interest on this Note shall be computed on the basis of a 360 day year.

F. Borrower shall make payments on this Note as follows:

         1. For the period from the date hereof through August 1, 2004 Borrower
         shall pay accrued interest on the unpaid principal amount outstanding
         (calculated as aforesaid) quarterly on each November 1, February 1, May
         1 and August 1.

         2. The entire principal amount of this Note shall be due and payable on
         August 1, 2004.

G. The Lender shall have the right convert all or any portion of the unpaid
principal amount of this Note and/or any accrued and unpaid interest hereon at
any time during the term of this Note at the rate of one share of common stock
of the Lender for each three-quarters of one cent ($.0075) of the aforesaid
principal and/or interest elected to be converted; provided, however, that the
maximum number of shares of Common Stock of Borrower that Lender may acquire
upon such conversion shall not exceed ninety million (90,000,000) shares. The
Lender shall make the election by giving written notice to the Borrower,
specifying the dollar amount of principal and/or interest to be converted. Upon
receipt of the written notice by Lender, all principal and/or interest specified
in such written notice shall be deemed converted into such shares of common
stock, and the Borrower's obligation under this Note, to the extent so
converted, shall cease to be outstanding.

H. The parties agree that the Borrower shall not dilute any of the existing
stock or issue new stock of Murray United Development Corp. without the written
permission of the Lender.

I. The Lender is authorized to endorse the date and principal amount of each
Disbursement made to or on behalf of Borrower, and each payment of principal
and/or interest with respect thereto on a Schedule hereto, which endorsement
shall constitute prima facie evidence of the accuracy of the information
endorsed.

J. The occurrence of any of the following events shall constitute an event of
default hereunder, which shall cause the entire unpaid balance of this Note, and
accrued interest, to become immediately due and payable without requiring the
Lender to make a demand on the Borrower:

         1. If Borrower shall default in the performance of any obligation of
         the Borrower, including but not limited to the payment of principal
         and/or interest due upon the Note, for a period of fifteen (15) days
         after the due date thereof and Lender provides written notice of such
         default to Borrower;



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         2. If Borrower voluntarily suspends the operation of its business;

         3. If Borrower makes an assignment for the benefit of its creditors;

         4. If Borrower files a voluntary petition under the United States
         Bankruptcy Code, as amended, or any other federal or state insolvency
         law, or applies for or consents to the appointment of a receiver,
         trustee or custodian of all or part of its property;

         5. If Borrower shall submit and file an answer admitting to the
         jurisdiction of the Court and material allegations of an involuntary
         petition filed against it under the Bankruptcy Code, as amended, or any
         other federal or state insolvency law, or fails to have such petition
         dismissed within 45 days after its filing;

         6. If an order of relief is entered into following the filing of an
         involuntary petition against the Borrower under the United States
         Bankruptcy Code, as amended, or any other federal or state insolvency
         law, or if an order shall be entered appointing a trustee, receiver or
         custodian of all or part of Borrower's property;

         7. Upon the sale of all or a substantial amount of the assets of
         Borrower.

         Failure to exercise any of Lender's rights hereunder shall not
constitute a waiver of the rights to exercise same in the event of any
subsequent default.

K. Borrower shall reimburse Lender, upon demand, for all costs and expenses
incurred in connection with the collection and/or enforcement of this Note,
including but not limited to reasonable attorney fees and expenses, whether or
not a lawsuit is actually commenced.

L. Lender agrees that the indebtedness evidenced by this Note is subordinated in
right of payment to the prior payment in full of indebtedness of the Borrower to
any lender of funds to Borrower if the terms of documentation evidencing any
such loan expressly provide that such funds are senior in right of payment to
any other borrowed funds of the Borrower ("Senior Indebtedness"), and agrees
that such subordination is for the benefit of the holder of the Senior
Indebtedness; provided, however, that this Note shall be senior in right of
payment to any other unsecured indebtedness (other than for borrowed money) of
the Borrower, including, but not limited to trade payables.

M. In the event that any payment shall be due on a Saturday, Sunday or public
holiday, the parties agree that said payment may be made the next succeeding
business day.

N. The Parties agree that the Borrower has the right to prepay the principal
amount of this Note. If Borrower should exercise this option, Lender shall have
the right to exercise his option to convert any portion of the unpaid principal
prior to prepayment.


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O. No alteration, amendment or waiver of any provision of this Note shall
constitute a waiver of any other term hereof, or otherwise release or discharge
the liability of Borrower under this Note, unless the Lender shall agree to such
alteration, amendment or waiver in writing.

P. To the fullest extent permitted by law, Borrower hereby waives presentment,
demand for payment, notice of dishonor, notice of protest and all other notices
or demands of any kind with respect to this Note.

Q. This Note may not be modified, terminated or discharged, nor shall any waiver
hereunder be effective, unless in writing signed by the party against whom the
same is asserted. This Note shall be construed in accordance with and governed
by the laws of the State of New York.

R. If any term of this Note conflicts with law, the parties agree that all other
terms of this Note shall remain in effect without the conflicting term. This
means that any of the terms of the this Note that conflict with the law may be
separated from the remaining terms, and the remaining terms will still be
enforced.


                                       MURRAY UNITED DEVELOPMENT CORPORATION


                                               By:  / s /  Dwight Foster
                                                    ----------------------
                                                    Dwight Foster,
                                                    Chief Executive Officer