Document:

Exhibit 10.2

                                CREDIT AGREEMENT

Regarding the import of equipment for the production of alcohol production by
granting a credit refinanced extern buy an American Bank between:

         Romanian Bank of External Commerce (BRCE)
         Being situated in Bucharest, 22-24 Victoriei Street, named
         BANCOREX S.A., represented by its branch in Timisoara
                  - Malea Maria - Director

                  - Raducan Tiberiu - Credit and Material Guaranties and S.C.
         Perfect Renaissance SRL Situated in Timisoara, 16 Vasile Lupu Street,
         matriculated in Commerce Register Office under J/35/2863/94, named
         ______ represented by Willkovits Petru - Administrator.

                        I. THE VALUE AND OBJECT OF CREDIT

1.1.     Import of complex installation in total amount of $4,116,680 meaning:

         -        $3,918.408 for financing an 85% share of the total value of
the contract between S.C. Perfect Renaissance and EX-KLARR TECHNOLOGIES INC. in
New York regarding an import of a technological line for alcohol production.

         - $198.272 representing insurance premium U.S. EXTRABANK (made up of
5.06% flat rate applied to the financing rate of 85% of the equipment value).

                             II. CREDIT UTILIZATION

2.1.     The loan can be used into a 9 month interval from the signature date of
this agreement.

2.2.     The loan granted equal to $4,116,680 will be used trough an irrevocable
letter of credit, after the signature date of the Credit Agreement between
BANCOREX and the refinancing American Bank.

2.3.     The use of this credit as part of Credit Agreement will be made based
on refinancing Bank communications.

2.4.     The Client agrees that the installments to be made without checking the
Bank documents, respectively only on Client's risk.

<PAGE>

2.5.     The Client agrees to all stipulated conditions in this Credit
Agreement.

                              III. CREDIT REPAYMENT

3.1.     The loan will be repaid in 10 equal installments payable every half-
year, first installment after 6 months from the bringing into operation, or of
the end of the payment period, according to Bank's communications.

3.2.     The loan will be fully paid in 5 years from the bringing into
operation.

3.3.     The loan can be paid in advance if the Bank agrees and in settled
likely named conditions.

3.4.     The Client pledge himself to pay in favor of the Bank 17.5% p.a. extra
interest, calculated from the payment date till the effective payment, over all
unpaid amounts at the payment date.

                           IV. INTEREST AND COMMISSION

4.1.     For the loan the debtor will pay to the refinancing Bank an interest
equal to LIBOR USD interest for 6 months - practiced by the American Banks, plus
an additional 0.125% p.a.

4.2.     For the loan granted the debtor will pay to the Bank a commission of
$25,000 payable by the importer on the signature date of this agreement.

4.3.     During the period starting the signature date until the date of full
utilization of the loan the debtor will pay to the financing Bank a commission
of 0.125% p.a. for the unutilized balance of the debt calculated for the exact
number of days out of a year of 360 days. The calculation of the commission will
start 60 days after the emission of the "FINAL COMMITMENT" by US EXIMBANK.

4.4.     For the loan granted the debtor will pay a margin of 2.25% p.a. to
BANCOREX S.A.

4.5.     During the period starting the signature date until the date of full
utilization of the loan the debtor will pay to BANCOREX a commission of 0.5%
p.a. payable quarterly for the unutilized balance of the debt calculated for the
exact number of days out of a year of 360 days.

4.6.     For late payment of any of the amounts in this agreement (installments,
interest, commission, etc.) the debtor will pay to the Bank an additional
interest (penalization interest) of BANCOREX S.A. to USD, presently 17.5% p.a.,
for the period between the payable date and the payment date. The additional
interest is subject to revision during the whole agreement period.

4.7.     For the loan granted the debtor will pay to BANCOREX direct costs in
amount of $2,000, at the signature date of this agreement.

                                        2

<PAGE>

4.8.     The interest, the commission and the margin will be calculated to the
balance of the credit and will be payable half-yearly.

4.9.     The debtor will pay all the commissions regarding this loan at the
dates and in the amounts that will be communicated to the debtor in due-time, as
well as the insurance premiums that will be supported by the debtor.

                            V. GUARANTEE FOR THE LOAN

5.1.     The repayment of the loan, as the payment of installments due to the
Bank by the debtor (Client) are guaranteed by promissory notes issued by the
Client. In case the debtor will issue blank promissory notes, the Bank is
authorized to register on the payment date all amounts due to by the Client.

         The Client will guarantee the payment of promissory notes issued by:

         a) pledge without dispossession in favor of BANCOREX upon the equipment
for the value of $4,609,892, imported from EX_KLARR, New York, according to
art.480, align.4 Commercial Code.

         b) mortgage in favor of BANCOREX upon the fenced plot in surface of
14,500 square meters, situated in Timisoara, Sulina street, evaluated to the
value of 496,319,000 lei according the Technical Evaluation Report made in May
12, 1997, in accordance to art.1746 and 1749, align.1 - Civil Code.

         c) mortgage in favor of BANCOREX upon the building including the
appendages evaluated to the value of 3,444 billion lei in accordance to art.1746
and 1749, align.1 - Civil Code. The mortgage will be set up after the buildings
will be ready, not less than the minimum estimated ______.

                                  VI. INSURANCE

6.1.    The Client pledge himself to ensure the goods guaranteed in favor of the
Bank, during the period till the integral payment of all amounts due as part of
this agreement.

6.2.    The parts agree that the goods guaranteed to be ensured (if they are not
at the date of the present agreement) by the OMNIASIG insurance company,
excepting the cases this insurance company does not offer insurance for a
certain risks categories, or the cases when the insurance costs are higher than
the costs of another insurance company approved by this Bank.

6.3.    For the payment of the insurance premiums the Client (debtor) authorizes
the Bank to put them out of his account.

                                        3

<PAGE>

6.4.    The (insurance) policy will be transferred to the Bank and the original
will be deposed to BANCOREX SA Timisoara branch. In case the debtor does not
depose to the Bank the prolongation of the policy.

                 VII. THE CLIENT'S DECLARATIONS AND OBLIGATIONS

7.1.     The Client declares that:

         a) he obeys and comply himself to the existing laws or to the laws
that will be issued during this credit agreement;

         b) it was set up as a company according to the operative laws and
settlements;

         c) all the pledges he has subscribe in this agreement are in accordance
to public order; the legal dispositions regarding the payments and the cash in
lei and US Dollars were and will be respected

         d) the operations part of this agreement are in accordance to
Romanian authority and will be made in accordance to operative laws and
settlements;

         e) his authorized agent has the permission to sign the agreement and
the documents for the guaranties, he has all mandates settled by the company
contract and/or the company's rule (statute) to engage the company so that the
company fulfill its obligations according to the agreement.

         f) the pledges from the present agreement are direct and unconditioned
obligations and will be considered at least equal to the pledges taken till this
date having a preferential position towards the future ones made by the Client;

         g) he has deposed into the agreement file the decision of General
Meeting of Shareholders regarding credit engagement;

         h) he has noticed the stipulations from General Business Conditions of
the Bank and he pledge himself to comply with them.

7.2.    Regarding the declarations preliminary taken, the Client pledge himself
to notice the Bank of all direct and indirect modifications of the rule, of the
organization and work form of the company, of changes in the Administration
Border and/or management and the cooperation modality part of commercial
engagements before those changes occurred.

         In case those changes affect Bank's interests, the Bank will ask the
Client to renounce these changes or the Bank will apply the measures stipulated
in chapter 8 in the present agreement.

7.3.     The Client pledge himself to present to BANCOREX SA the documents
necessary to pay the pledges in the operations stipulated in the agreement,
including the interests and commissions, to the settled terms, by suitable
supply of his accounts in BANCOREX SA.

                                        4

<PAGE>

7.4.     The Client pledge himself to present the guarantee documents stipulated
in chapter 5 in the agreement and to provide the Bank access to verify the
material guarantees at the terms stipulated by the Bank.

7.5.     The Client pledge himself to unfold the operations stipulated in
chapter 1 in the present agreement.

7.6.     The Client pledge himself to present to the Bank the Financial
Statements, the income statement quarterly or when ever BANCOREX ask for, and to
allow the access for the BANCOREX's representatives to verify at Client's
headquarters every other financial situation they consider necessary as well as
the existence of the guarantees taken by BANCOREX for the loans granted.

7.7.     By signing the present document the Client cedes to the Bank the trade
receivables and cash items achieved from his own activity towards his debtors
according to art.1391 - 1393 Civil Code.

7.8.     By signing the present document the Client cedes to the Bank the trade
receivables and the cash items that are going to be cash, with a confirmation
from its bank about noticing the cession and whenever the bank will ask to put
out the company's account, he will allow the access to existing amounts.

7.9.     The Client pledge himself to pay to the Bank all debts due, or the Bank
will apply the stipulations in chapter 8 in the agreement.

7.10.    The Client pledge himself to pay in priority the interests, the
commissions and the margin due to the loan in case the available funds does not
cover the entire debt.(art.1111 and 1112 in Civil Code).

7.11.    In case there are remaining credits for more than 90 days the Client
pledge himself to obtain in his favor, for old debts and big amounts, promissory
notes issued by his own debtors.

7.12.    The Client pledge himself to contract with the Bank an Assets
Assignment in case he cannot pay the loan at the settling day. By this assets
assignment are handed over to the bank other goods excepting the ones included
in the mortgage, constituted as guarantees for the loan.

7.13.    The Client pledge himself to make up a pledge without dispossession in
favor of the Bank upon the goods that are the object of the loan (installation
import) and to communicate to the Bank when the goods are in his possession.

7.14     The Client pledge himself to make up supplementary guaranties

         e) brakes through any document or decision issued by the managerial
staff, the execution totally or partly of this agreement or it causes Bank's
interests resulting from it by modifications of the statute, organization and
functioning form of the company, managing staff modifications without noticing
the Bank about them;

                                        5

<PAGE>

         f) gives away mobile and immobile goods that constitute the guarantee
for the loan without noticing the Bank, or gives them away in damaging
conditions;

         g) shows carelessness towards the goods and does not conserve their
value;

         h) gives away mobile goods that constitute the guarantee in Bank's
favor with the purpose of embezzlement from constrained pursuit;

         i) does not declare in maximum 5 days from its apparition, any
situation that could determine the conditions for granting the loan, or could
affect the guarantees in Bank's favor;

         j) attempts by any purpose (bank's accounts to other banks in the
country or abroad, CEC's accounts, direct cash) to elude from the payments and
other obligations towards the Bank;

         k) does not make exclusively through the Bank every operations of
exporting goods or anything else linked to the export that he is doing it for
other beneficiary;

         l) does not present the prolongation of the policy.

NOTE: SOMEHOW NUMBERING IS OFF, PAGES MISSING?????

8.2.     If any of the cases mentioned at 8.1. appears BANCOREX SA has the righ
to cancel the present agreement but any other agreement made with the Client
too, even if they are not related with the guilt case declaring all the Client's
engagements payable with all the costs and with every other due amounts. In this
situation the Bank will take over all available funds in Client's accounts (in
Lei and US Dollars), will execute real and personal guarantees presented by the
Client.

8.3.     In case BANCOREX SA does not execute this right or any other rights, or
it executed them with a certain delay, this is not a renunciation to these
rights.

8.4.     The Client is responsible for all the financial consequences direct and
indirect determined by anticipated liability of engagements and credits, owning
to the Bank all the costs and expenses determined by immediate payments and
repayments.

8.5.     In the cases mentioned below the Bank is not responsible towards the
third party for Client's guilt or for any other situations due to his guilt.

8.6.     BANCOREX SA has the right to renegotiate with the Client the conditions
of this agreement or to cancel it, in case the evolution of the Client's
situation imposes this.

                                 IX. ARBITRATION

9.1.     Any misunderstanding regarding this agreement will be solved by the
parts in an amicable way.

                                        6

<PAGE>

9.2. In case the two parts will not reach an understanding in an amicable way,
the problems will be solved by a competent instance according to common right.

                               X. APPLICABLE RIGHT

10.1.    The present agreement is made, executed and interpreted according to
Romanian Laws and it is ruled by Romanian Laws.

                               XI. OTHER INTEREST

11.1.    The statements of account and the notifications from the Bank
containing the amounts due the Client had not disputed in terms settled in
Bank's General Business Conditions constitute probation documents and cannot be
disputed.

11.2.    The present agreement cannot be interpreted so as to affect the Bank's
right given by the promissory notes issued by the Client in Bank's favor.

11.3.    Undemanding by BANCOREX SA for any document or right settled in the
present agreement constitute renunciation to them, BANCOREX SA being able to
demand the presentation of documents, declarations and/or the payment of due
amounts anytime, till the total discharge of all due amounts.

11.4.    The two parts have the obligation to provide and keep the
confidentiality of the present agreement's conditions.

                                  XII. VALIDITY

12.1.    The present loan agreement is valid from the signature's date.

12.2.    The present credit agreement is made in two copy in Romanian Language
having the same validity for both parts.

SC PERFECT RENAISSANCE SRL                               ROMANIAN BANK OF
                                                          EXTERNAL COMMERCE
                                                           Timisoara Branch

Administrator                         Director             Head of Department
Peter Willkovits                   Maria Malea                Tiberiu Raducan

                                Juridical Advisor

                                  Mihail Dragos

                                        7

<PAGE>

                                                     TRANSLATION FROM ROMANIAN

Government of Romania

NATIONAL AGENCY OF BANK ASSETS MARKETING
Bucharest, 21 C.A.Rosetti Street, Sec. 1

                            PAYMENT SYSTEM AGREEMENT
                           No. 062 from March 30, 2000

THE NATIONAL AGENCY OF BANK ASSETS MARKETING acquired through the outstanding
debt transfer contract No. 54500/1270 from December 13, 1999, from the assignor
creditor BANCA COMERCIALA ROMANA SA (ROMANIAN TRADING BANK) according to
provisions of OUG No. 51/1988 with subsequent alterations and supplements, the
outstanding debts upon the assigned debtor SC PERFECT RENAISSANCE SRL.

Upon request of the debtor, THE NATIONAL AGENCY OF BANK ASSETS MARKETING
approved the debts payment system through the notification No. 1269 from March
22, 2000.

THE NATIONAL AGENCY OF BANK ASSETS MARKETING, with registered office in
Bucharest, Sector 1, 21 C.A.Rosetti Street, hereinafter referred to as "The
Agency", represented by:

         Mr. Dan I. Pazara - State Secretary

and

SOCIETATEA COMERCIALA PERFECT RENAISSANCE SRL, with registered office in 16,
V.Lupu Street, Timisoara, Timis County, Trade Registration No. J35/2863/1994,
hereinafter referred to as "Debtor", represented by:

         Mr. Neeman Miron - Executive
         Mr. Wilkovits Peter - Director

have concluded the following Payment System Agreement:

1.       OBJECT AND VALUE OF THE CONTRACT

1.1.     Hereby Payment System Agreement's object is the payment system of
outstanding debts acquired by the debt transfer contract No. 54500/1207 from
December 1999, which is part of the credit agreements No. 62508/May 29, 1997,
No. 633/July 16, 1996 and No. 746/January 10, 1997 and of the work Agreement
____________/October 7, 1996 and the subsequently concluded addendums, in a
total value of 1,785,832.08 US$.

                                        8

<PAGE>

1.2.     Hereby Payment System Agreement at its turn, is an executory deed, by
which law enforcement could be performed, without any other prior procedures,
pursuant to Art. 3,ss.1 of the Government order No. 55/1999.

The executory deeds previous to this agreement shall preserve their validity.

2.       OUTSTANDING DEBTS PAYMENT SYSTEM

2.1.     The nonperforming outstanding debt in a total nominal value of
32,091,402,477.60 ROL is entirely funded in US$ using the exchange rate of the
National Bank of Romania from the date of taking over by the outstanding debt
transfer contract No. 54500/1207 dated December 13, 1999.

2.2.     The debtor has paid to the Agency until March 22, 2000 the amount of
100,043.57 US$.  The outstanding debt to pay is 1,685,788.51 US$.

2.3.     The outstanding debt in amount of 1,685,788.51 US$ shall be paid in 17
(seventeen) monthly installments beginning with April 25, 2000, as listed below:

        No.                Due Date                 The Amount (US$)
        ------------ ----------------------- -------------------------
        1.                 30.04.2000                    55,000.00
        2.                 31.05.2000                    55,000.00
        3.                 30.06.2000                    55,000.00
        4.                 31.07.2000                    55,000.00
        5.                 31.08.2000                    55,000.00
        6.                 30.09.2000                    55,000.00
        7.                 31.10.2000                    85,000.00
        8.                 30.11.2000                    85,000.00
        9.                 31.12.2000                    90,000.00
        10.                31.01.2001                   140,000.00
        11.                28.02.2001                   115,000.00
        12.                31.03.2001                   105,000.00
        13.                30.04.2001                   200,000.00
        14.                31.05.2001                   250,000.00
        15.                30.06.2001                   200,000.00
        16.                31.07.2001                    50,000.00
        17.                31.08.2001                    35,788.51
        ------------ ------------------------- ---------------------

The established sum at due time shall be paid through bank transfer in time, so
that the payment registration in the AVAB account shall appear until the next
working day.

                                        9

<PAGE>

2.4.     The outstanding debt shall by paid entirely according to the payment
schedule until 25.08.2001.

2.5.     The outstanding debt can be paid in advance entirely or through
cumulation of more installments.

2.6.     As consequence of the payment transfer agreement, the Agency undertakes
not to initiate law enforcement based on the executory deeds it has, as long as
the payment schedule will be observed by the debtor.

2.7.     If one of the agreed installments will not be observed by the debtor,
the entire sum, which is the object of hereby Payment Transfer Agreement, can be
considered as due and payable; the Agency shall immediately initiate law
enforcement and recovery of the entire amount owed by the debtor at the given
moment.

2.8.     If AVAB is taking over extra-balance sheet liabilities held by SC
PERFECT RENAISSANCE SRL at BCR, in amount of 3,047,651.00 US$, upon request of
debtor they will be subject of a payment system analysis for the period to come,
according to the circumstances at the given moment.

3.       PAYMENT MODALITIES

3.1.     The parties agreed that payment of the outstanding debt shall be
performed according to the
payment schedule as set out in pct.2, 3.

3.2. Payment is deemed to be done on schedule if the installment amount has been
recorded with the bank accounts of the Agency, within the term granted by the
creditor, at latest on the due day.

4.       WARRANTIES

4.1.     Warranties established pursuant to stipulations of the credit
agreements and addendums concluded with the ROMANIAN TRADING BANK shall remain
in force.

4.2.     For the entire warranty of the debt, object of hereby agreement, the
debtor undertakes to replace the below listed pledge contracts without existing
dispossessions into real warranty movable contracts according to Law 99/1999, on
behalf of the Agency, until 28.04.2000.

         -    pledge contract without dispossession transcribed under No.
12491/28.05.1998 on "Equipment and Machines Components of the Manufacturing
Lines";

         -    pledge contract without dispossession transcribed under No.
22087/25.08.1997 on "Vodka Stock";

         -    pledge contract without dispossession transcribed under No.
5350/25.02.1997 on "Motor vehicle Dacia 1310", chassis No. UU1R13311R135648,
manufactured in 1993;

         -    pledge contract without dispossession transcribed under No.
5345/25.02.1997 on "Motor vehicle Dacia 1310 TLX berlina, chassis No.
UU1R13711H2144759, manufactured in 1987;

                                       10

<PAGE>

         -    pledge contract without dispossession transcribed under No.
33754/18.12.1997 on "Stacking Machine, 1,6 to", manufactured in 1995 (2 pieces)
and "Stacking Machine Balkanar", manufactured in 1997;

         -    pledge contract without dispossession transcribed under No.
12490/28.05.1998 on "Monoblock Washing, Filling and Stappling Equipment with
needed accessories";

         -    pledge contract without dispossession transcribed under No.
33755/18.12.1997 on a "Merchandise Stock, Watches"'

         -    pledge contract without dispossession transcribed under No.
4802/25.02.1998 on "Automatic Labeling Machine", manufactured in 1995;

         -    pledge contract without dispossession transcribed under No.
9869/21.04.1999 on "Grain Mill, Maize Farm, Electric Equipment, Effervescence,
Water Networks, Distillery, Heat Plant, Alcohol Ware-house";

         -    pledge contract without dispossession transcribed under No.
9870/21.04.1999 on "Alcoholic Drinks and Packings";

The goods shall be insured with insurance companies for a period covering the
payment period of debts, the insurance policy being remitted to the Agency in
true copy.

The debtor undertakes to transfer the cash rights resulting from the compulsory
and optional insurance policies concluded with the insurance companies for the
goods set out in hereby agreement, on behalf of the Agency up to the amount of
the outstanding debt, which is object of hereby Payment System Agreement;

4.3.     The approval regarding striking of the mortgages/pledges shall be given
by the Agency either only after payment of all obligations established in hereby
Payment System Agreement, or partially under compliance of the cover degree of
the outstanding debt with real warranties, the creditor being fully entitled to
select the retained warranties.

5.       STATEMENTS AND OBLIGATIONS OF THE DEBTOR

5.1.     The debtor states and undertakes to:

         a) comply with all existing law provisions and regulations in force or
prospective ones during the validity of hereby agreement, failure of these could
affect directly its execution;

         b) being a legally established and duly incorporated company under the
Romanian laws, having full powers and competence for conclusion of hereby
agreement and to fulfill the obligations undertaken by it;

                                   11

<PAGE>

         c) that his legal and authorised representative to sign hereby
agreement and the warranty documents, has all powers of proxy provided by the
company's memorandum of association or by laws in order to engage the company,
so that he is entitled to perform the obligations according to the hereby
agreement;

         d) to notify the Agency about all alterations occurred or future
changes and the means of co- operation in the framework of commercial
obligations before their occurrence;

If these alterations are changing the Agency's interests, this shall be entitled
to request from the debtor based on justification of his legal interests,
renunciation of the said alterations or, if fails, shall apply the measures
provided by pnt. 6 "Events of default" of hereby Payment System Agreement.

Engagements from hereby Payment System Agreement are direct obligations, deemed
to be at least equal to the engagements undertaken so far and with preferential
rank toward the prospective ones undertaken;

5.2. The debtor undertakes to present the warranty documents according to the
provisions of Chapter 4 "Warranties" from hereby agreement and to provide access
to the Agency's representatives for control of the records and the facts related
to the material warranty on the deadlines stated by the Agency.

5.3. The debtor undertakes to present the Agency balance sheets with all annexes
and the analytic profit and loss account, permitting the access of the Agency's
representatives to check at the debtor's registered office any other records,
considered as necessary.

6.       EVENTS OF DEFAULT

6.1. Acts and deeds committed by the debtor are guilt cases which entitles with
full powers the Agency to cancel the hereby agreement without putting it into
delay and without any other notification or prior formality, as listed below:

         a)   failure of payment on schedule of the installments towards the
Agency, according to the due dates as set out at pnt. 2, 3 of hereby agreements;

         b)   submission of incomplete or false data, counterfeit documents and
informative papers or statements signed by persons unauthorized by the debtor;

         c) decline of submission towards the Agency of any papers or documents
referred to the company's situation within 7 working days from the date of
request;

         d)   uncompliance with the obligation provided by pnt. 5.1./d;

         e)   alienation without the Agency's approval of the goods which are
warranty of the hereby agreement;

         f)   defective management or not preserving the value of the mortgaged
or pledged goods;

                                       12

<PAGE>

         g) not declaring within 7 working days from occurrence of circumstances
that could affect the warranty constituted for the Agency;

         h)   elusion by any means from the payment obligation of the due debts;

         i)   any unfullfilment of the debtor's obligations provided by pnt. 5
of hereby agreement.

7.       COMMENCEMENT DATE

Hereby agreement commences with the date of warranty constitution and reception
by the Agency of the warranty and insurance documents provided by pnt. 4 as well
as the decision of shareholders' meeting of SC PERFECT RENAISSANCE SRL, through
which the subscribers of hereby document have been authorized to represent the
debtor.

8.       APPLICABLE LAW AND JURISDICTION

Hereby Payment System Agreement is governed, considered and executed pursuant to
the Romanian laws.

8.1.     Any dispute arising from this agreement should be settled amicably by
the parties hereto.

8.2.     In the case when the parties cannot reach a mutually satisfying
conclusion, the dispute should be submitted to the competent Romanian court.

9.       MISCELLANEOUS

9.1.     Hereby agreement can be altered in written form only with the consent
of the parties hereto.

9.2.     Any notification or document submission to be made from one party to
the other according to this agreement will be performed by mail, registered
letter with receipt confirmation, being considered as dispatched at the date of
the receipt confirmation of the registered letter.

9.3.     Any notification which has to be made from one party to another shall
be dispatched to the following addresses:

CREDITOR                                 DEBTOR
---------------------------------------- -----------------------------
AGENTIA DE VALORIFICARE A                SC PERFECT RENAISSANCE SRL
ACTIVELOR BANCARE
Bucuresti, Str.C.A.Rosetti 21            Str.Vasile Lupu 16, Timisoara
Sector 1                                 jud.Timis

9.4.     Any payment towards the Agency should be done into the following
accounts:

* ROL:        506511795573          ROL Trezoreria Municipiului Bucuresti
* US$:        2511.1-2266.2/ US$

                                       13

<PAGE>

* DEM: 2511.1-1-2266.3/DEM
* EUR: 2511.1-2266.4/EUR
* GBP: 2511.1-2266.11/GBP

opened with BANCA COMERCIALA ROMANA, Sucursala UNIREA - Bucuresti.

9.5.     Hereby agreement is concluded in 5 (five) true copies, from which 1
(one) to the debtor and 4 (four) to the creditor.

Signatures of the parties authorized representatives, this day of
___________________________, Bucuresti.

CREDITOR                                      DEBTOR
AGENTIA DE VALORIFICARE                       SC PERFECT RENAISSANCE SRL
A ACTIVELOR BANCARE

State Secretary,                              Executive,
Dan Pazara                                    Neeman Miron

Law Dept., General Director                   Manager,
Dorel Burdusel                                Wilkovits Peter

SEAL & illegible signatures                   SEAL & illegible signatures

                                       14Exhibit 10.3

                                    AGREEMENT

THE PARTIES TO THIS AGREEMENT ARE:

     SA Bardinet-Napoleon, Rue Garonne 14, Bordeaux, France, represented in the
     United States by Carnage House Imports Ltd., Springfield, N.J. (hereinafter
     "Bardinet")

                                       AND

     AJK Perfect Renaissance, Inc., 20533 Biscayne Boulevard 4-108, Aventura,
     Florida 33180 (hereinafter "AJK").

WHEREAS, Bardinet is a long-established and highly regarded producer of highest
quality premium Cognacs and brandies which are marketed in prestigious
establishments around the world; and

WHEREAS, Bardinet wishes to obtain a share of the market for its products in
Romania and other nearby countries to be agreed from time to time; and

WHEREAS, AJK is and has been a producer (If premium alcoholic beverages since
the early 1990's and has invested substantial sun~ in upgrading its facilities
in Romania, including the installation of a distillery designed and built in the
United States capable of producing highest quality super-premium alcohol; and

WHEREAS, AJK wishes to augment its line officially produced brands so as to
increase its market share in Romania and other nearby market;;

NOW THEREFORE,

1.   By these writings, Bardinet extends to AJK a license to process,
     manufacture, bottle and market Bardinet Brand Brandy within the Republic of
     Romania, such license to be further extended to other marketing areas
     beyond the geographic borders of the Republic of Romania as may be agreed
     between the parties from time to time.

2.   This license shall be in full force and effect as of the date written
     hereunder and for a period of 36 months. It shall be automatically renewed
     and extended without written notice for additional periods of 24 months
     unless cancelled by either party at least 120 days prior to the last day of
     the initial 36-month period or each of the subsequent 24-month periods.
     Such notice of cancellation to be in the form of a registered letter
     acknowledged by the receiving party through tie postal system.

<PAGE>

3.   Representatives of Bardinet shall be given access to the premises of AJK
     including factory and processing and bottling areas, warehouses and
     distribution centers and laboratories for purposes of quality assurance and
     name and trademark safeguarding.

4.   AJK shall purchase from Bardinet and Bardinet shall supply all such
     materials, flavors, ingredients and other components which may be agreed
     between the parties so as to assure the quality and appearance standards of
     Bardinet's products. In the event that the procurement of certain
     components from Bardinet should become impossible or prohibitively
     expensive due to import regulations or other impediments, AJK shall be free
     to procure such materials elsewhere, prior review and permission by
     Bardinet, such permission not to be unreasonably withheld.

5.   Bardinet shall supply technical support to AJK including but not limited to
     formulae, written quality and quality control standards, filtration
     standards with micron particle limits, shelf life standards, packaging
     criteria and such other standards and recommendations which, in the
     estimation of Bardinet shall enhance product quality, taste, shelf life and
     appearance so as to optimize marketing success.

6.   Bardinet shall, at the request of AJK also provide technical personnel to
     assist AJK with the production and marketing of the product. Such technical
     assistance shall be subject to reimbursement of salaries and associated
     compensation and all travel expenses and expenses incurred during
     personnel's stay in Romania.

7.   Bardinet shall make available to AJK th extensive laboratories of Bardinet
     in Bordeaux, France for the purpose of research and product development,
     quality control and product trouble shooting. Alt direct costs and expenses
     incurred by Bardinet in this connection shall be reimbursed by AJK.

8.   AJK shall maintain an inventory of off-the-conveyor samples, collected at
     random at least once every seven days. These samples shall be maintained
     for six months and shall be made available to Bardinet upon request.

9.   It shall be Bardinet's duty and obligation to safeguard and maintain the
     Bardinet trademark and licenses and pay all such fees and expenses as may
     be required, during the life of this agreement.

10.  AJK shall prepare and submit to Bardinet a detailed and complete sales
     report and statement as of the end of every calendar month, such report to
     reach Bardinet not later than the tenth of the month subsequent. Together
     with the report, AJK shall pay a royalty of US$ 0.15 per bottle of Bardinet
     product produced and sold during the reporting month.

11.  The parties agree that in the event of the sale, merger, acquisition or
     divestiture by either or both parties, agreement shall not be assigned by
     either party without the written consent of the other.

12.  The parties agree that any dispute arising from this agreement shall be
     referred for resolution to the International Arbitration Association in
     Paris, France. The language of arbitration shall be English. in the event
     of legal proceedings, this agreement shall be governed by the laws of the
     United States of America.

                                        2

<PAGE>

This agreement is effective as of 12/11/99 and is hereinbelow duly signed by
authorized representatives of the parties.

FOR S.A. Bardinet-Napoleon               FOR AJK Perfect Renaissance, Inc.

/s/ Eric Haas                            /s/ Jacob Kieselstein
-------------------------------------    ----------------------------------

                                        3

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00017-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00017-of-00352.parquet"}]]