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                                                                   EXHIBIT 10.14



Hongkong Bank
The Hongkong and Shanghai Banking Corporation Limited
Mongkok Office:  675 Nathan Road, Kowloon, Hong Kong

CORPORATE BANKING CENTRE
PRIVATE AND CONFIDENTIAL

Celebrity Exports International Ltd
12/F Empire Centre
68 Mody Road
Tsimshatsui East
Kowloon
Attn:  Mr K C Lee                                                   19 May 1997

Dear Sir

BANKING FACILITIES
A/C NO. 001-523950-001

We refer to our recent discussions and are pleased to advise that we have
reviewed your undermentioned banking facilities and offered a renewal within
the following revised limits which will be made available on the specific terms
and conditions outlined herein and upon the satisfactory completion of the
security detailed below. These facilities are subject to review at any time
and, in any event by 31 March 1998, and also subject to our overriding right of
withdrawal and repayment on demand, including the right to call for cash cover
on demand for prospective and contingent liabilities.

<TABLE>
<CAPTION>

                                                         Existing                       New
                                                         --------                       ---
<S>                                                      <C>                            <C>
Export Facilities                                        HKD45,000,000*#                HKD55,000,000@#o
-----------------                                       
Purchase of D/P bills on approved drawees
with ECIC cover assigned to us.

within which                                             HKD45,000,000*#                HKD55,000,0000@#o
------------                                                                             
D/A bills on approved drawees up to 60 days 
with ECIC cover assigned to us.
</TABLE>

*  within which HKD15,000,000 can be 
   used as Export DP/DA bills (60 usance
   days) drawn on Celebrity Group
   companies. 
   (A/C No. 001-523950-096)


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                                        Existing                  New


@    within which HKD20,000,000 can be 
     used as Export DP/DA bills (60 usance
     days) drawn on Celebrity Group
     companies. 
     (A/C No. 001-523950-096)

#    of which HKD2,000,000 can be used
     as Overdraft facility.  Interest will
     continue to be charged on daily
     balances over our best lending rate
     (currently 8-3/4% per annum, but
     subject to fluctuation at our discretion)
     and payable monthly in arrears to the
     debit of your current account.

o    of which HKD5,000,000 temporarily
     available until 31 October 1997.

Commission Structure

Our opening commission on Documentary Credits and commission in lieu of
exchange will continue to be charged as follows:

For the first USD50,000 or its equivalent                       1/4%

Balance in excess of USD50,000 or its equivalent                1/8%

Security

As security, we are holding:

1)       A Corporate Guarantee in our favour from Celebrity Inc. for 
         HKD45,000,000 with Board Resolution.

2)       A Letter of Undertaking from Celebrity Exports International Ltd with
         Board Resolution that their net worth is and will be maintained for
         not less than HKD30 million for all times.

3)       A Letter of Negative Pledge from your company.

In view of the foregoing revised facilities, we require:



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A)       A Corporate Guarantee from Celebrity Inc. for HKD55,000,000.  Our 
         standard form of Guarantee is enclosed for their completion and return 
         which should be verified by their banker and accompanied by the 
         undermentioned documents.

         i)       A certified true copy of a board resolution authorizing a
                  named person or the holder of a particular office to execute
                  a guarantee in our favour on behalf of the Corporation. This
                  certified true copy of the resolution should be signed and
                  sealed by the Secretary or an Assistant Secretary of the
                  Corporation.

         ii)      A certificate of incumbency to be signed and sealed by the
                  Secretary or an Assistant Secretary of the Corporation. Our
                  draft form is enclosed for consideration which should be
                  typed on their stationery.

         iii)     A counsel's opinion which may be given by the Corporation's 
                  in-house counsel, as per the attached format.

B)       A Letter of Undertaking from Celebrity Exports International Ltd with
         Board Resolution that their net worth maintaining for not less than
         HKD50 million for all times. Our standard forms of "Letter of
         Undertaking" and "Board Resolution" are enclosed for your completion
         and return.

Upon receipt of which, we shall return the existing guarantee and Letter of 
Undertaking as mentioned at the above security items 1) and 2) for your 
cancellation.

Please note that an arrangement fee of HKD15,000 will be charged to the debit
of your current account upon receipt of your acceptance to this letter.

Our above commitment will remain open for acceptance until the close of
business on 10 June 1997 and if not accepted by that date, will be deemed to
have lapsed.

Kindly arrange for the authorized signatories of your company, in accordance
with the terms of the mandate given to the Bank, to sign and return to us the
duplicate copy of this letter to signify your confirmation as to the
correctness of the security held, and your understanding and acceptance of the
terms and conditions under which these facilities are granted.

We are pleased to be of continued assistance.

Yours faithfully


Roger Lim
Corporate Relationship Manager

Enc

EML