----

**AMENDMENT      NO. 1 TO CREDIT AGREEMENT**

**THIS      AMENDMENT NO. 1 TO CREDIT AGREEMENT**
** **
**KELLWOOD      COMPANY**
**EACH      OF THE GUARANTORS**
**EACH      LENDER SIGNATORY HERETO**
**BANK      OF AMERICA, N.A.**

**W      I T N E S S E T H**
**:**

**WHEREAS,**

**WHEREAS,**

**WHEREAS,**

**NOW,      THEREFORE,**

** **

----

----

** **

----

----

*      to*

----

** **

**Applicable      Rate**

| **Pricing****Level** | **Pricing                Consolidated****Leverage                Ratio**         | **Facility****Fee** | **Eurocurrency****Rate                +****Standby                Letters of****Credit** | **Commercial****Letters                of****Credit** |
|----------------------|----------------------------------------------------------------------------------|---------------------|------------------------------------------------------------------------------------------|-------------------------------------------------------|
| 1                    | Less                than or equal to1.25:1                                       | .150%               | .600%                                                                                    | .250%                                                 |
|                 |                                                                             |                |                                                                                     |                                                  |
| 2                    | Less                than or equal to1.75:1                but greater than1.25:1 | .175%               | .825%                                                                                    | .250%                                                 |
|                 |                                                                             |                |                                                                                     |                                                  |
| 3                    | Less                than or equal to2.50:1                but greater than1.75:1 | .200%               | 1.05%                                                                                    | .300%                                                 |
|                 |                                                                             |                |                                                                                     |                                                  |
| 4                    | Less                than or equal to3.25:1                but greater than2.50:1 | .250%               | 1.25%                                                                                    | .350%                                                 |
|                 |                                                                             |                |                                                                                     |                                                  |
| 5                    | Greater                than 3.25:1                                               | .300%               | 1.45%                                                                                    | .400%                                                 |

** **

*less*

----

*      to*
*      to*

** **

** **

** **

----

** **

** **

** **

----

** **

**2.01**
**Committed      Loans**
** **

** **

----

** **

** **

**      2.05    **
**Termination      or Reduction of Commitments**
** **

----

** **

** **

**6.15**
**Security      Agreement; Additional Subsidiary Guarantors**

** **

----

----

**6.17    **
**Further      Assurances**

** **

----

*pari      passu*

** **

**7.07    **
**Restricted      Payments**
** **

** **

** **

----

**Consolidated      Net Worth**
** **

**Consolidated      Interest Coverage Ratio**
** **

**Consolidated      Leverage Ratio**

** **

**7.14    **
**Acquisitions**

----

** **

----

----

**[Signature      pages follow.]**

----

**IN      WITNESS WHEREOF, **

**BORROWER**
**:**

**KELLWOOD      COMPANY**

|   | By: | /s/ W. Lee Capps,                III |
|--------|-----|--------------------------------------|

|   | Name: | W. Lee Capps, III |
|--------|-------|-------------------|

|   | Title: | Chief                  Operating Officer and Chief Financial                  Officer |
|--------|--------|---------------------------------------------------------------------------------------|

**GUARANTORS**
**:**

**AMERICAN      RECREATION PRODUCTS, INC.**

**BIFLEX      INTERNATIONAL, INC.**

**BRIGGS      NEW YORK, INC.**

**DORBY      FROCKS, LTD.**

**HALMODE      APPAREL, INC.**

**PHAT      FASHIONS LLC**

**PHAT      LICENSING LLC**

**SIERRA      DESIGNS ACQUISITION CORPORATION**

|   | By: | /s/ W. Lee Capps,                  III |
|--------|-----|----------------------------------------|

|   | Name: | W. Lee Capps, III |
|--------|-------|-------------------|

|   | Title: | Senior                    Vice President Finance |
|--------|--------|--------------------------------------------------|

**COSTURA      DOMINICANA, INC.**

**GERBER      CHILDRENSWEAR, INC.**

|   | By: | /s/ W. Lee Capps,                    III |
|--------|-----|------------------------------------------|

|   | Name: | W. Lee Capps, III |
|--------|-------|-------------------|

|   | Title: | Senior                      Vice President Finance and ChiefFinancial                      Officer |
|--------|--------|----------------------------------------------------------------------------------------------------|

----

**GCI      IP SUB, INC.**

**KELLWOOD      FINANCIAL RESOURCES, INC.**

**KWD      HOLDINGS, INC.**

|   | By: | /s/ W. Lee Capps,                    III |
|--------|-----|------------------------------------------|

|   | Name: | W. Lee Capps, III |
|--------|-------|-------------------|

|   | Title: | President |
|--------|--------|-----------|

**GCW      HOLDINGS, INC.**

|   | By: | /s/ Thomas H.                    Pollihan |
|--------|-----|-------------------------------------------|

|   | Name: | Thomas H. Pollihan |
|--------|-------|--------------------|

|   | Title: | Vice                      President and General                      Counsel |
|--------|--------|------------------------------------------------------------------------------|

**KORET      OF CALIFORNIA, INC.**

**NEW      CAMPAIGN, INC.**

|   | By: | /s/ W. Lee Capps,                    III |
|--------|-----|------------------------------------------|

|   | Name: | W. Lee Capps, III |
|--------|-------|-------------------|

|   | Title: | Vice                      President                      Finance |
|--------|--------|------------------------------------------------------------------|

----

**BANK      OF AMERICA, N.A.**

|   | By: | /s/ Kimberly D.                    Williams |
|--------|-----|---------------------------------------------|

|   | Name: | Kimberly D. Williams |
|--------|-------|----------------------|

|   | Title: | Vice                      President |
|--------|--------|-------------------------------------|

**BANK      OF AMERICA, N.A., **

|   | By: | /s/ Douglas J.                    Bolt |
|--------|-----|----------------------------------------|

|   | Name: | Douglas J. Bolt |
|--------|-------|-----------------|

|   | Title: | Vice                      President |
|--------|--------|-------------------------------------|

**JPMORGAN      CHASE BANK**
** **

|   | By: | /s/  Jules                    Panno |
|--------|-----|------------------------------------------|

|   | Name: | Jules Panno |
|--------|-------|-------------|

|   | Title: | Vice                      President |
|--------|--------|-------------------------------------|

**THE      BANK OF NOVA SCOTIA**
** **

|   | By: | /s/  N. Bell |
|--------|-----|-------------------|

|   | Name: | N. Bell |
|--------|-------|---------|

|   | Title: | Senior                      Manager Loan                      Operations |
|--------|--------|--------------------------------------------------------------------------|

**SUNTRUST      BANK**
** **

|   | By: | /s/ Robert                    Bugbee |
|--------|-----|-------------------------------------------|

|   | Name: | Robert Bugbee |
|--------|-------|---------------|

|   | Title: | Director |
|--------|--------|----------|

**U.S.      BANK NATIONAL ASSOCIATION**
** **

|   | By: | /s/ Veronica                    Morrissette |
|--------|-----|---------------------------------------------|

|   | Name: | Veronica Morrissette |
|--------|-------|----------------------|

|   | Title: | Vice                      President |
|--------|--------|-------------------------------------|

----

**WACHOVIA      BANK NATIONAL ASSOCIATION**
** **

|   | By: | /s/ Susan T.                    Gallagher |
|--------|-----|-------------------------------------------|

|   | Name: | Susan T. Gallagher |
|--------|-------|--------------------|

|   | Title: | Vice                      President |
|--------|--------|-------------------------------------|

**THE      BANK OF NEW YORK**
** **

|   | By: | /s/ Randolph E.J.                    Medrano |
|--------|-----|----------------------------------------------|

|   | Name: | Randolph E.J. Medrano |
|--------|-------|-----------------------|

|   | Title: | Vice                      President |
|--------|--------|-------------------------------------|

**HSBC      BANK USA, NATIONAL ASSOCIATION**
** **

|   | By: | /s/ Ignatius J.                    Marotta |
|--------|-----|--------------------------------------------|

|   | Name: | Ignatius J. Marotta |
|--------|-------|---------------------|

|   | Title: | First                      Vice                      President |
|--------|--------|----------------------------------------------------------------|

**MIZUHO      CORPORATE BANK, LTD.**
** **

|   | By: | /s/ Raymond                    Ventura |
|--------|-----|----------------------------------------|

|   | Name: | Raymond Ventura |
|--------|-------|-----------------|

|   | Title: | Senior                      Vice                      President |
|--------|--------|-----------------------------------------------------------------|

**STANDARD      CHARTERED BANK**
** **

|   | By: | /s/ Robert K.                    Reddington |
|--------|-----|---------------------------------------------|

|   | Name: | Robert K. Reddington |
|--------|-------|----------------------|

|   | Title: | AVP/Credit                      Documentation |
|--------|--------|-----------------------------------------------|

**UMB      BANK, NATIONAL ASSOCIATION**
** **

|   | By: | /s/ Cecil G. Wood |
|--------|-----|-------------------|

|   | Name: | Cecil G. Wood |
|--------|-------|---------------|

|   | Title: | Executive                      Vice                      President |
|--------|--------|--------------------------------------------------------------------|

----

**UNION      BANK OF CALIFORNIA, N.A.**
** **

|   | By: | /s/ Matthew R.                    Krajniak |
|--------|-----|--------------------------------------------|

|   | Name: | Matthew R. Krajniak |
|--------|-------|---------------------|

|   | Title: | Assistant                      Vice                      President |
|--------|--------|--------------------------------------------------------------------|

**NATIONAL      CITY BANK OF THE MIDWEST**
** **

|   | By: | /s/ Eric Hartman |
|--------|-----|------------------|

|   | Name: | Eric Hartman |
|--------|-------|--------------|

|   | Title: | Vice                      President |
|--------|--------|-------------------------------------|

**FIRST      BANK**
** **

|   | By: | /s/ Traci L.                    Dodson |
|--------|-----|----------------------------------------|

|   | Name: | Traci L. Dodson |
|--------|-------|-----------------|

|   | Title: | Vice                      President |
|--------|--------|-------------------------------------|

**CITIBANK,      NA**
** **

|   | By: | /s/ Stanley K.                    Ross |
|--------|-----|----------------------------------------|

|   | Name: | Stanley K. Ross |
|--------|-------|-----------------|

|   | Title: | Director |
|--------|--------|----------|

**ISRAEL      DISCOUNT BANK OF NEW YORK**
** **

|   | By: | /s/ Matilde Reyes |
|--------|-----|-------------------|

|   | Name: | Matilde Reyes |
|--------|-------|---------------|

|   | Title: | First                      Vice                      President |
|--------|--------|----------------------------------------------------------------|

|   | By: | /s/ Howard                    Weinberg |
|--------|-----|----------------------------------------|

|   | Name: | Howard Weinberg |
|--------|-------|-----------------|

|   | Title: | Senior                      Vice President                      I |
|--------|--------|-------------------------------------------------------------------|

----

**ANNEX      I**

----

***EXHIBIT      D***

**FORM      OF COMPLIANCE CERTIFICATE**

*[Use      following paragraph 1 for fiscal *
***year-end***
*      financial statements]*

*[Use      following paragraph 1 for fiscal *
***quarter-end***
*      financial statements]*

----

***[select      one:]***

**[to      the best knowledge of the undersigned during such fiscal period, the Borrower      performed and observed each covenant and condition of the Loan Documents      applicable to it.] **

***--or--***

**[the      following covenants or conditions have not been performed or observed and the      following is a list of each such Default and its nature and      status:]**

*IN      WITNESS WHEREOF,*

**KELLWOOD      COMPANY**

----

**SCHEDULE      2 **

| **I.**  | **Section                  7.13(a) - Consolidated Net Worth.**                 |                                                                                                                                                                                                                                                               |
|---------|--------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|    |                                                                           |                                                                                                                                                                                                                                                               |   |
|    | A.                                                                             | Consolidated                    Net Worth at Statement Date                                                                                                                                                                                                        | $____________ |
|    |                                                                           |                                                                                                                                                                                                                                                               |   |
|    | B.                                                                             | 50%                    of Consolidated Net Income for each full fiscal quarter ending                    after                    January 31, 2004 (no deduction for net losses):                                                                                  | $____________ |
|    |                                                                           |                                                                                                                                                                                                                                                               |   |
|    | C.                                                                             | 50%                    of increases in Shareholders’ Equity after date of Agreement from issuance                    and sale of Equity Interests (other than issuances to the Borrower                    or a                    wholly-owned Subsidiary): | $____________ |
|    |                                                                           |                                                                                                                                                                                                                                                               |   |
|    | D.                                                                             | Any                    reduction of intangible assets resulting from any impairment                    charge                    pursuant to FAS 142 (which reduction shall not exceed                    $100,000,000):                                           | $____________ |
|    |                                                                           |                                                                                                                                                                                                                                                               |   |
|    | E.                                                                        | Charges                    incurred in connection to the Restructuring (not to exceed                    $155,000,000):                                                                                                                                            | $____________ |
|    |                                                                           |                                                                                                                                                                                                                                                               |   |
|    | F.                                                                        | $546,500,000                    + Line I.B + I.C - I.D - I.E:                                                                                                                                                                                                      | $____________ |
|    |                                                                           |                                                                                                                                                                                                                                                               |   |
|    | G.                                                                        | Excess                    (deficient) for covenant compliance (Line I.A - I.F):                                                                                                                                                                                    | $____________ |
|    |                                                                           |                                                                                                                                                                                                                                                               |   |
| **II.** | **Section                    7.13(b) - Consolidated Interest Coverage Ratio.** |                                                                                                                                                                                                                                                               |
|    |                                                                           |                                                                                                                                                                                                                                                               |   |
|    | A.                                                                             | Consolidated                    EBIT for any period ending on above date (“Subject                    Period”):                                                                                                                                        |   |
|    |                                                                           |                                                                                                                                                                                                                                                               |   |
|    |                                                                           | 1.                    Consolidated Net Income for Subject Period:                                                                                                                                                                                                  | $____________ |
|    |                                                                           |                                                                                                                                                                                                                                                               |   |
|    |                                                                           | 2.                    Consolidated Interest Charges for Subject Period:                                                                                                                                                                                            | $____________ |
|    |                                                                           |                                                                                                                                                                                                                                                               |   |
|    |                                                                           | 3.                    Provision for income taxes for Subject Period:                                                                                                                                                                                               | $____________ |
|    |                                                                           |                                                                                                                                                                                                                                                               |   |
|    |                                                                           | 4.                    Consolidated EBIT (Lines II.A.1 + 2 + 3):                                                                                                                                                                                                    | $____________ |
|    |                                                                           |                                                                                                                                                                                                                                                               |   |
|    | B.                                                                             | Consolidated                    Interest Charges for Subject Period:                                                                                                                                                                                               | $____________ |

----

|     | C.                                                                     | Consolidated                      Interest Coverage Ratio (Line II.A.8 ÷ Line II.B):                                                                                                                                                                                                                                                                                                                                                                                              | __________to                      1 |
|----------|------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------|
|     |                                                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                                |
|     |                                                                   | *Minimum                      Permitted:*                                                                                                                                                                                                                                                                                                                                                                                                                                              |                                |
|     |                                                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                                |
|     |                                                                   | *Each                      Statement Date through and including the fiscal quarter ending                      January 31,                      2007:*                                                                                                                                                                                                                                                                                                                            | *2.50                      to 1*    |
|     |                                                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                                |
|     |                                                                   | *Each                      Statement Date for each fiscal quarter ending April 30, 2007                      and                      continuing thereafter:*                                                                                                                                                                                                                                                                                                                          | *3.00                      to 1*    |
|     |                                                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                                |
|     |                                                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                                |
| **III.** | **Section                    7.13 (c) - Consolidated Leverage Ratio.** |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|     |                                                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                                |
|     | A.                                                                     | Consolidated                      Funded Indebtedness at Statement Date:                                                                                                                                                                                                                                                                                                                                                                                                               | $____________                       |
|     |                                                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                                |
|     |                                                                   | 1.                          For                      each Statement Date through and including the fiscal quarter                      ending                      January 31, 2007, all cash and cash equivalents domiciled in                      the                      United                      States for the account of the Borrower or any of its Material                      Domestic                      Subsidiaries in excess of $100,000,000: |  $____________                 |
|     |                                                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                                |
|     |                                                                   | 2.                       For                    each Statement Date through and including the fiscal quarter                    ending                    January 31, 2007, Line III.A - Line III.A.1:                                                                                                                                                                                                                                                                  | $____________                       |
|     |                                                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                                |
|     | B.                                                                     | Consolidated                      EBITDA for any period ending on above date (“Subject                      Period”):                                                                                                                                                                                                                                                                                                                                                      |                                |
|     |                                                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                                |
|     |                                                                        | 1.                      Consolidated Net Income for Subject Period:                                                                                                                                                                                                                                                                                                                                                                                                                    | $____________                       |
|     |                                                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                                |
|     |                                                                   | 2.                      Consolidated Interest Charges for Subject Period:                                                                                                                                                                                                                                                                                                                                                                                                              | $____________                       |
|     |                                                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                                |
|     |                                                                   | 3.                      Provision for income taxes for Subject Period:                                                                                                                                                                                                                                                                                                                                                                                                                 | $____________                       |
|     |                                                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                                |
|     |                                                                   | 4.                      Depreciation expenses for Subject Period:                                                                                                                                                                                                                                                                                                                                                                                                                      | $____________                       |
|     |                                                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                                |
|     |                                                                   | 5.                      Amortization expenses for Subject Period:                                                                                                                                                                                                                                                                                                                                                                                                                      | $____________                       |
|     |                                                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                                |
|     | C.                                                                     | Consolidated                      EBITDA (Lines III.B.1 + 2 + 3 + 4 + 5):                                                                                                                                                                                                                                                                                                                                                                                                              | $____________                       |
|     |                                                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                                |
|     |                                                                   |  ***[select                      one:]***                                                                                                                                                                                                                                                                                                                                                                                                                                         |                                |
|     |                                                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                                |
|     | [D.                                                                    | Consolidated                      Leverage Ratio for each Statement Date through and including                      the fiscal                      quarter ending January 31, 2007 (Line III.A.2 ÷ Line                      III.C):                                                                                                                                                                                                                                             | ________to                      1]  |
|     |                                                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                                |
|     | [D.                                                                    | Consolidated                      Leverage Ratio for each Statement Date commending with the                      fiscal quarter                      ending April 30, 2007 and continuing thereafter (Line III.A÷ Line                      III.C):                                                                                                                                                                                                                              | _______to                    1]     |
|     |                                                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                                |
|     |                                                                   | *Maximum                      Permitted:*                                                                                                                                                                                                                                                                                                                                                                                                                                              |                                |
|     |                                                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                                |
|     |                                                                   | *Each                      Statement Date through and including the fiscal quarter ending                      April 30,                      2006:*                                                                                                                                                                                                                                                                                                                              | *3.25                      to 1*    |

----

|   |   | *Each                      Statement Date for each fiscal quarter commencing with the                      fiscal quarter                      July 31, 2006 through and including January 31, 2007:* | *3.00                      to 1* |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------|
|   |   |                                                                                                                                                                                                  |                             |
|   |   | *Each                      Statement Date for each fiscal quarter ending April 30, 2007                      and                      continuing thereafter:*                                         | *3.25                      to 1* |

----

**ANNEX      II**

----

***EXHIBIT      I***

**FORM      OF BORROWING BASE CERTIFICATE**

**BORROWING        BASE REPORT**

| For                  the                  Fiscal Quarter ending __________________:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | *[Note:                    All amount are shown in thousands of U.S. dollars unless otherwise                    indicated.]*                                                                                                                                                                                                                                                                                                                                                                                                    |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |   |
| I,                    __________________, **[**office title**]** of                    Kellwood Company, hereby certify that, to the best of my knowledge                    and                    belief, with respect to that certain Credit Agreement date as                    of October                    20, 2004 among the Borrower, the Lenders and Bank of America,                    as                    Administrative Agent (as amended by Amendment No. 1 to Credit                    Agreement                    dated as of September 1, 2005, as may be further amended, amended                    and                    restated, modified, or supplemented from time to time, the “Credit                    Agreement”; all of the defined terms in the Credit Agreement are                    incorporated herein by reference), the figures set forth below                    are true                    and correct.The                    amounts reported herein are from the consolidated financial statements                    of                    Kellwood Company and its Subsidiaries for the fiscal quarter                    ending on the                    date set forth above. |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | **Accounts**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |   |
| 1.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | Accounts                    net                    of any reserves for doubtful or uncollectable accounts and less                    sales,                    excise or similar taxes, returns, discounts, claims, credits                    and                    allowances, accrued rebates, offsets and deductions                                                                                                                                                                                                       |   | $____________ |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |   |
| 2.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | (i)                    Accounts                    subject to any Lien                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   | $____________ |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | (ii)                    Accounts                    which more than 90 days have elapsed since the date of the original                    invoice therefor or which more than 60 days have elapsed since                    the                    original due date.                                                                                                                                                                                                                                                           |   | $____________ |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | (iii)                    Accounts owing by an account debtor which is not solvent of is                    subject to                    any bankruptcy or insolvency proceeding or any kind, unless account                    debtor                    is classified as a debtor in possession or with respect to which                    50% or                    more of the aggregate amount of outstanding Accounts owing by                    such account                    debtor are ineligible under 2(ii) above |   | $____________ |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | (iv)                    Accounts                    excluded from Eligible Accounts under clauses (d) through (i)                    of the                    definition of "Eligible Accounts" in Section 1.01 of the Credit                    Agreement.                                                                                                                                                                                                                                                                     |   | $____________ |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | (v)                    Accounts                    over the 15% concentration limitation for account debtors who                    are unrated                    or are rated lower than BBB or Baa2 by S&P or Moody’s,                    respectively.                                                                                                                                                                                                                                                             |   | $____________ |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | (vi)                    Sum of                    Lines 2(i) through 2(v)                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   | $____________ |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |   |
| 3.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | Net                    Eligible                    Accounts                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | (Line                    1                    *less* Line 2(vi))                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   | $____________ |

----

| 4.                                                 | Borrowing                      Base Accounts                                                                                                                                                                                                                                                                             |   |          |
|----------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------------|
|                                               | (85%                      of Net                      Eligible Accounts)                                                                                                                                                                                                                                                 |   | $____________ |
|                                               |                                                                                                                                                                                                                                                                                                                     |   |          |
| **Raw                      Materials Inventory***  |
|                                               |                                                                                                                                                                                                                                                                                                                     |   |          |
| 5.                                                 | Raw                      materials                      Inventory (based on a FIFO valuation, consistently applied)                      owned by the                      Borrower and its Subsidiaries less appropriate reserves determined                      in                      accordance with GAAP.         |   | $____________ |
|                                               |                                                                                                                                                                                                                                                                                                                     |   |          |
| 6.                                                 | (i)                      Raw                      Materials Inventory subject to any Lien or as to which perfection                      of a                      security interest would not be governed by the UCC;                                                                                                   |   | $____________ |
|                                               |                                                                                                                                                                                                                                                                                                                     |   |          |
|                                               | (ii)                      Raw                      Materials Inventory outside North America;                                                                                                                                                                                                                            |   | $____________ |
|                                               |                                                                                                                                                                                                                                                                                                                     |   |          |
|                                               | (iii)                      Raw                      Materials Inventory that is not in good condition, is not merchantable                      or                      is not salable at prices approximating at least cost in the                      normal course                      of business;                 |   | $____________ |
|                                               |                                                                                                                                                                                                                                                                                                                     |   |          |
|                                               | (iv)                      Raw                      Materials Inventory in-transit from vendors or suppliers, that                      is not                      supported by a commercial or documentary letter of credit;                                                                                            |   | $____________ |
|                                               |                                                                                                                                                                                                                                                                                                                     |   |          |
|                                               | (v)                      Raw                      Materials Inventory that is placed on consignment                                                                                                                                                                                                                      |   | $____________ |
|                                               |                                                                                                                                                                                                                                                                                                                     |   |          |
|                                               | (vi)                      Total                                                                                                                                                                                                                                                                                          |   | $____________ |
|                                               |                                                                                                                                                                                                                                                                                                                     |   |          |
| 7.                                                 | Eligible                      Raw                      Materials Inventory                                                                                                                                                                                                                                               |   |          |
|                                               | (Line                      5                      *less* Line 6(vi))                                                                                                                                                                                                                                                     |   | $____________ |
|                                               |                                                                                                                                                                                                                                                                                                                     |   |          |
| 8.                                                 | Borrowing                      Base Raw Materials Inventory                                                                                                                                                                                                                                                              |   |               |
|                                               | (40%                      of                      Eligible Raw Materials Inventory )                                                                                                                                                                                                                                     |   | $____________ |
|                                               |                                                                                                                                                                                                                                                                                                                     |   |          |
|                                               | ****                      Without duplication***                                                                                                                                                                                                                                                                         |   |          |
|                                               |                                                                                                                                                                                                                                                                                                                     |   |          |
| **Finished                      Goods Inventory*** |
|                                               |                                                                                                                                                                                                                                                                                                                     |   |          |
| 9.                                                 | Inventory                      (based on a FIFO valuation, consistently applied) consisting                      of all                      finished goods inventory owned by the Borrower and its Subsidiaries                      less                      appropriate reserves determined in accordance with GAAP. |   | $____________ |
|                                               |                                                                                                                                                                                                                                                                                                                     |   |          |
|                                               | (i)                      Inventory                      subject to any Lien or as to which perfection of a security                      interest would                      not be governed by the UCC;                                                                                                                 |   | $____________ |
|                                               |                                                                                                                                                                                                                                                                                                                     |   |          |
|                                               | (ii)                      Inventory outside North America;                                                                                                                                                                                                                                                               |   | $____________ |
|                                               |                                                                                                                                                                                                                                                                                                                     |   |          |
|                                               | (iii)                      Inventory that is not in good condition, is not merchantable                      or is not                      salable at prices approximating at least cost in the normal                      course of the                      Loan Parties' business;                                  |   | $____________ |
|                                               |                                                                                                                                                                                                                                                                                                                     |   |          |
|                                               | (iv)                      Inventory in-transit from vendors or suppliers, that is supported                      by a                      commercial or documentary letter of credit;                                                                                                                                   |   | $____________ |
|                                               |                                                                                                                                                                                                                                                                                                                     |   |          |
|                                               | (v)                      Inventory                      that is placed on consignment                                                                                                                                                                                                                                    |   | $____________ |
|                                               |                                                                                                                                                                                                                                                                                                                     |   |          |
|                                               | (vi)                      Total                                                                                                                                                                                                                                                                                          |   | $____________ |

----

| 10.                                     | Eligible                      Inventory                                                                                                                                            |   |          |
|-----------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------------|
|                                    | (Line                      9                      *less* Line 10(vi))                                                                                                              |   | $____________ |
|                                    |                                                                                                                                                                               |   |          |
| 11.                                     | Borrowing                      Base Inventory                                                                                                                                      |   |          |
|                                    | (60%                      of                      Eligible Inventory)                                                                                                              |   | $____________ |
|                                    |                                                                                                                                                                               |   |          |
|                                    | ****                      Without duplication***                                                                                                                                   |   |          |
|                                    |                                                                                                                                                                               |   |          |
| **Borrowing                      Base** |
|                                    |                                                                                                                                                                               |   |          |
| 12.                                     | Borrowing                      Base assets                                                                                                                                         |   |          |
|                                    | (Line                      4                      *plus* Line 8 *plus* Line 11)                                                                                                    |   | $____________ |
|                                    |                                                                                                                                                                               |   |          |
| 13.                                     | (i)                      Aggregate                      amount of outstanding Revolving Loans                                                                                      |   | $____________ |
|                                    |                                                                                                                                                                               |   |          |
|                                    | (ii)                      Aggregate amount of outstanding Uncommitted Loans                                                                                                        |   | $____________ |
|                                    |                                                                                                                                                                               |   |          |
|                                    | (iii)                      Aggregate amount of outstanding L/C Obligations                                                                                                         |   | $____________ |
|                                    |                                                                                                                                                                               |   |          |
| 14.                                     | Total                      deductions from the Borrowing Base assets                                                                                                               |   |          |
|                                    | (sum                      of Line                      13(i) through 13(iii))                                                                                                      |   | $____________ |
|                                    |                                                                                                                                                                               |   |          |
| 15.                                     | Remaining                      availability (but not exceeding unused Aggregate Commitments):                      The                      difference of Line 12 *minus* Line 14. |   | $____________ |

*IN        WITNESS WHEREOF, the undersigned has executed this Borrowing Base Certificate        as*

*of        _________________ , ____________.*

----