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                            REVOLVING PROMISSORY NOTE
                              (FIXED 12% INTEREST)


Up to $1,000,000                                                  March 31, 1997
                                                            Salt Lake City, Utah

          On December 31, 1997, the undersigned, Renaissance Golf Products,
Inc., a Delaware corporation, and John B. Hewlett, an individual (collectively
referred to as "Borrower"), promise to pay to the order of AKA Charitable
Remainder Unit Trust Number 2 ("Lender"), in lawful money of the United States
of America and in immediately available funds, the principal sum of $1,000,000,
or so much thereof as may be advanced and outstanding, with interest thereon to
be computed on each advance from the date of its disbursement at a rate computed
on the basis of a 360-day year, actual days elapsed, equal to 12% per year.

          All or any portion of the principal of this Note may be borrowed,
repaid and reborrowed from time to time prior to maturity, provided at the time
of any borrowing no Event of Default (as herein defined) exists, and provided
further that the total borrowings outstanding at any one time shall not exceed
the principal amount stated above. Each borrowing and repayment hereunder shall
be noted in the books and records of Lender. The excess of borrowings over
repayments shall evidence the principal balance due hereon from time to time and
at any time. Borrowings hereunder shall be conclusively presumed to have been
made to or for the benefit of Borrower when made as noted in such books and
records.

          Interest accrued on this Note shall be payable in arrears on the tenth
day of each month, commencing May 10, 1997.

          The occurrence of any of the following with respect to Borrower shall
constitute an "Event of Default" hereunder:

     1.   The failure to make any payment of principal or interest when due
          under this Note;

     2.   The filing of a petition by or against any of such parties under any
          provisions of the Bankruptcy Code;

     3.   The appointment of a receiver or an assignee for the benefit of
          creditors;

     4.   The commencement of dissolution or liquidation proceedings or the
          disqualification of any such parties which is a corporation,
          partnership, joint venture or any other type of entity;

     5.   The death or incapacity of any of such parties who is an individual;

     6.   Any financial statement provided by or on behalf any such parties to
          Lender is false or misleading;

     7.   Any material default in the payment or performance of any obligation,
          or any default under any provisions of any contract or instrument
          pursuant to which any of such parties has incurred any obligation for
          borrowed money, any purchase obligation or any other liability of any
          kind to any person or entity, including Lender;

     8.   Any sale or transfer of all or a substantial or material part of the
          assets of any of such parties other than in the ordinary course of
          business; or


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     9.   Any violation, breach or default under any letter agreement, security
          agreement, or any other contract or instrument executed in connection
          with this Note or securing this Note.

          Upon the occurrence of any Event of Default and upon 10 days written
notice thereof to Borrower without cure of the Event of Default within 10 days
of such notice, Lender, at its option, may declare all sums of principal and
interest outstanding hereunder to be immediately due and payable without
presentment, demand, protest or notice of dishonor all of which are expressly
waived by Borrower, and Lender shall have no obligation to make any further
advances hereunder. Borrower agrees to pay all costs and expenses, including
reasonable attorneys' fees, expended or incurred by Lender in connection with
the enforcement of this Note or the collection of any sums due hereunder and
irrespective of whether suit is filed. Any principal or interest not paid when
due hereunder shall bear an additional cost equal to 4% per month of the total
overdue payment amount from and after written notice by Lender to Borrower of
the occurrence of an Event of Default (and without constituting a waiver of such
Event of Default), until such overdue amount has been paid in full.

          This Note and all matters relating thereto, shall be governed by the
laws of the State of Utah.


                                        "BORROWER"

                                        RENAISSANCE GOLF PRODUCTS, INC.




                                        By: _________________________________
                                            John B. Hewlett, Chairman of the
                                            Board





                                        _____________________________________
                                        JOHN B. HEWLETT


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