| **SUBSIDIARY      SECURITY AGREEMENT**
 
                                                                                                                   March      30, 2004
 
To:            Laurus Master Fund, Ltd.
                 c/o Onshore Corporate Services, Ltd.
                 P.O. Box 1234 G.T
                 Queensgate House
                 South Church Street
                 Grand Cayman, Cayman Islands
 
Gentlemen:
                 1          To secure the payment of all Obligations (as      hereafter defined), each of the undersigned hereby grants to Laurus Master      Fund, Ltd. ("Laurus") a continuing security interest in all of the      following property now owned or at any time hereafter acquired, or in      which each of the undersigned now has or at any time in the future may      acquire any right, title or interest (the "Collateral"): all accounts,      inventory, equipment, goods, documents, instruments (including, without      limitation, promissory notes), contract rights, general intangibles      (including, without limitation, payment intangibles and an absolute right      to license on terms no less favorable than those current in effect among      our affiliates, but not own intellectual property), chattel paper,      supporting obligations, investment property, letter-of-credit rights,      trademarks and tradestyles      in which we now have or hereafter may acquire any right, title or      interest, all proceeds and products thereof (including, without      limitation, proceeds of insurance with respect thereto) and all additions,      accessions and substitutions thereto or therefor.      
 
                2.The      term "Obligations" as used herein shall mean and include all debts,      liabilities and obligations owing by (a) each of the undersigned to Laurus      hereunder and under the Subsidiary Guaranty (as amended, modified and      supplemented from time to time, the "Guaranty") dated as of the date      hereof made by each of the undersigned in favor of Laurus pursuant to      which each of the undersigned guarantied to Laurus all of      Ventures-National Incorporated d/b/a Titan General Holdings, Inc. ("TTGH")      obligations to Laurus whether      arising under, out of, or in connection with that certain Securities      Purchase Agreement dated as of the date hereof by and between TTGH and      Laurus (the "Securities Purchase Agreement"), that certain Secured      Convertible Note dated as of the date hereof made by Debtor in favor of      Laurus (the "Term Note"), the Warrant dated as of the date hereof made      by TTGH in favor of Laurus in connection with the Term Note (the "Term      Note Warrant"), that certain Registration Rights Agreement dated as of      the date hereof by and between TTGH and Laurus in connection with the Term      Note (the "Term Note Registration Rights Agreement"), (the Securities      Purchase Agreement, the Term Note, the Term Note Warrant, the Term Note      Registration Rights Agreement as each may be amended, modified, restated      or supplemented from time to time, are collectively referred to herein as      the "Documents").      
 

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               3.Each      of the undersigned hereby jointly and severally represents, warrants and      covenants to Laurus that each of the undersigned: (a) is company validly      existing, in good standing under the law of the jurisdiction of its      incorporation and will provide Laurus thirty days prior written notice of      any change in our jurisdiction of formation; (b) legal name is "Titan      PCB East, Inc." and "Titan PCB West, Inc.", respectively, each as      set forth in its respective certificate of incorporation as amended      through the date hereof; (c) is the lawful owner of the Collateral and      have the sole right to grant a security interest therein and will defend      the Collateral against all claims and demands of all persons and entities;      (d) each of the undersigned will keep the Collateral free and clear of all      attachments, levies, taxes, liens, security interests and encumbrances of      every kind and nature ("Encumbrances") except to the extent said      Encumbrance does not secure indebtedness in excess of $50,000 and such      Encumbrance is removed or otherwise released within fifteen (15)  days of the creation thereof; (e) each of the undersigned      will at its own respective cost and expense keep the Collateral in good      state of repair (ordinary wear and tear excepted) and will not waste or      destroy (obsolete, worn out, or equipment no longer necessary to our      respective needs excepted) the same or any part thereof; (f) each of the      undersigned will not without Laurus' prior written consent, sell,      exchange, lease or otherwise dispose of any part of the Collateral (except      for sales in the ordinary course of business) or any of our rights      therein; (g) each of the undersigned will insure the Collateral in Laurus' name against loss or damage by fire, theft, burglary, pilferage,      loss in transit and such other hazards as Laurus shall specify in amounts      and under policies by insurers acceptable to Laurus and all premiums      thereon shall be paid by each of the undersigned and the policies      delivered to Laurus.  If any      of the undersigned fails to do so, Laurus may procure such insurance and      the cost thereof shall constitute Obligations; (h) each of the undersigned      will at all reasonable times allow Laurus or its representatives free      access to and the right of inspection of the Collateral; (i) each of the      undersigned hereby indemnifies and saves Laurus harmless from all loss,      costs, damage, liability and/or expense, including reasonable attorneys'      fees, that Laurus may sustain or incur to enforce payment, performance or      fulfillment of any of the Obligations and/or in the enforcement of this      Agreement or the Guaranty or in the prosecution or defense of any action      or proceeding either against Laurus or each of the undersigned concerning      any matter growing out of or in connection with this Agreement, the      Guaranty and/or any of the Obligations and/or any of the Collateral.      
 
                4          Following      the occurrence and during the continuance of an Event of Default, Laurus      shall have the right to instruct all of our account      debtors to remit payments on all accounts in accordance with Laurus'      express written instructions.       If, despite such instructions, any of the undersigned shall receive      any payments with respect to accounts, such undersigned shall receive such      payments in trust for Laurus' benefit, shall segregate such payments      from its other funds and shall deliver or cause to be delivered to Laurus,      in the same form as so received with all necessary endorsements, all such      payments as soon as practicable, but in no event later than two (2)      business days after its receipt thereof.       Laurus shall have full power and authority to collect each account,      through legal action or otherwise, and may settle, compromise, or assign      (in whole or in part) the claim for any account, or otherwise exercise any      other right now existing or hereafter arising with respect to any account      if such action will facilitate collection.      
 
                5.          Each      of the undersigned shall be in default under this Agreement upon the      happening of any of the following events or conditions, each such event or      condition an "Event of      Default" (a) any of the undersigned shall fail      to pay when due or punctually perform any of the Obligations; (b) any      covenant, warranty, representation or statement made or furnished to      Laurus by any of the undersigned or on our behalf was false in any      material respect when made or furnished; (c) the loss, theft, substantial      damage or, destruction, or a sale or encumbrance not permitted hereunder      to or of any of the Collateral or the making of any levy, seizure or      attachment thereof or thereon except to the extent said levy, seizure or      attachment does not secure indebtedness in excess of $50,000 and such      loss, theft, substantial damage or destruction is covered by insurance      proceeds which are used to replace the item ( but only if no Event of      Default has occurred or is continuing hereunder) or repay us or such levy,      seizure or attachment has not been removed or otherwise released within      fifteen (15)  days after the      undersigned receive notice of the creation or the assertion thereof; (d)      any of the undersigned shall become insolvent, cease operations, dissolve,      terminate our business existence, make an assignment for the benefit of      creditors, suffer the appointment of a receiver, trustee, liquidator or      custodian of all or any part of our property; (e) any proceedings under      any bankruptcy or insolvency law shall be commenced by or against any of      the undersigned and if commenced against any of the undersigned shall not      be dismissed within 30 days after the commencement       thereof; (f) any of the undersigned shall repudiate, purport to      revoke or fail to perform any of its obligations under the Guaranty or      hereunder; or (g) an Event of Default shall have occurred under and as      defined in the TTGH Security Agreement, the Note or the Related      Agreements.      
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                6.               Upon      the occurrence of any Event of Default and at any time thereafter, Laurus      may declare all Obligations immediately due and payable and Laurus shall      have the remedies of a secured party provided in the Uniform Commercial      Code as in effect in the State of New York, this Agreement and other      applicable law.  Upon the      occurrence of any Event of Default and at any time thereafter, Laurus will      have the right to take possession of the Collateral and to maintain such      possession on our premises or to remove the Collateral or any part thereof      to such other premises as Laurus may desire.       Upon Laurus' request, each of the undersigned shall assemble the      Collateral and make it available to Laurus at a place designated by      Laurus.  If any notification      of intended disposition of any Collateral is required by law, such      notification, if mailed, shall be deemed properly and reasonably given if      mailed at least ten (10) days before such disposition, postage prepaid,      addressed to each of the undersigned either at our address shown herein or      at any address appearing on Laurus' records for each of the undersigned.       Any proceeds of any disposition of any of the Collateral shall be      applied by Laurus to the payment of all expenses in connection with the      sale of the Collateral, including reasonable attorneys' fees and other      legal expenses and disbursements and the reasonable expense of retaking,      holding, preparing for sale, selling, and the like, and any balance of      such proceeds may be applied by Laurus toward the payment of the      Obligations in such order of application as Laurus may elect, and each of      the undersigned shall be liable for any deficiency.      
 
              7.If      any of the undersigned default in any material respect in the performance      or fulfillment of any of the terms, conditions, promises, covenants,      provisions or warranties on our part to be performed or fulfilled under or      pursuant to this Agreement, Laurus may, at Laurus' option without      waiving Laurus right to enforce this Agreement according to its terms,      immediately or at any time thereafter and without notice to any of the      undersigned, perform or fulfill the same or cause the performance or      fulfillment of the same for our account and at our sole cost and expense,      and the cost and expense thereof (including reasonable attorneys' fees)      shall be added to the Obligations and shall be payable on demand with      interest thereon at the highest rate permitted by law.      
 
                8.>Each      of the undersigned appoints Laurus, any of its officers, employees or any      other person or entity whom Laurus may designate as our attorney-in-fact,      with power to execute such documents in our behalf and to supply any      omitted information and correct patent errors in any documents executed by      us or on our behalf; to file financing statements against us covering the      Collateral; to sign our name on public records; and to do all other things      Laurus deem necessary to carry out this Agreement.       Each of the undersigned hereby ratifies and approves all acts of      the attorney-in-fact and neither Laurus nor the attorney-in-fact will be      liable for any acts of commission or omission, nor for any error of      judgment or mistake of fact or law.  This      power being coupled with an interest, is irrevocable so long as any      Obligations remain unpaid.      
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                9. No      delay or failure on Laurus' part in exercising any right, privilege or      option hereunder shall operate as a waiver of such or of any other right,      privilege, remedy or option, and no waiver whatever shall be valid unless      in writing, signed by Laurus and then only to the extent therein set      forth, and no waiver by Laurus of any default shall operate as a waiver of      any other default or of the same default on a future occasion.       Laurus' books and records containing entries with respect to the      Obligations shall be admissible in evidence in any action or proceeding,      shall be binding upon us for the purpose of establishing the items therein      set forth and shall constitute prima facie proof thereof.       Laurus shall have the right to enforce any one or more of the      remedies available to Laurus, successively, alternately or concurrently.       Each of the undersigned agree to join with Laurus in executing      financing statements or other instruments to the extent required by the      Uniform Commercial Code in form satisfactory to Laurus and in executing      such other documents or instruments as may be required or deemed necessary      by Laurus for purposes of affecting or continuing Laurus' security      interest in the Collateral.      
 
               10. This Agreement shall be      governed by and construed in accordance with the laws of the State of New      York without reference to its conflict of laws provisions and cannot be      terminated orally.  All of the      rights, remedies, options, privileges and elections given to Laurus      hereunder shall enure to the benefit of Laurus' successors and assigns.       The term "Laurus" as herein used shall include Laurus, any      subsidiaries and any co-subsidiaries of Laurus, whether now existing or      hereafter created or acquired, and all of the terms, conditions, promises,      covenants, provisions and warranties of this Agreement shall enure to the      benefit of and shall bind the representatives, successors and assigns of      each of each of the undersigned and them.       You and each of the undersigned hereby (a) waive any and all right      to trial by jury in litigation relating to this Agreement and the      transactions contemplated hereby and each of the undersigned agree not to      assert any counterclaim in such litigation, (b) submit to the nonexclusive      jurisdiction of any New York State court sitting in the borough of      Manhattan, the city of New York and (c) waive any objection you or each of      the undersigned may have as to the bringing or maintaining of such action      with any such court.      
 

 

 

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                11.       All notices from you to each      of the undersigned shall be sufficiently given if mailed or delivered to      us at our address set forth below.                                                                                    **TITANPCB EAST, INC.**
**                                                                           **By:      /s/ Daniel D. Guimond                                                                                      Name:      Daniel D. Guimond                                                                                 Title:      Chief Financial Officer                                                                                  Address:      1 & 2 Industrial Way                                                                                                 Amesbury,      MA  01913                                                                                   Telephone      No:. 978-388-5740                                                                                   Facsimile      No.: 978-388-3940                                                                                 **TITANPCB WEST, INC.**

**                                                                           **By:      /s/ Daniel D. Guimond                                                                                      Name:      Daniel D. Guimond                                                                                 Title:      Chief Financial Officer                                                                                 Address:       44358 Old Warm Springs Boulevard                                                                                                 Fremont,      CA  94538                                                                                  Telephone      No.: 510-824-1200                                                                                  Facsimile      No.: 510-824-1211

ACKNOWLEDGED:

**LAURUS MASTER FUND, LTD.**      By: /s/ David      Grin                      Name: David Grin      Title: Partner/Fund Manager |
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