Document:

Bodyguard Records.com, Inc.
138 Fulton Street
New York, NY 10038

                               FINANCING AGREEMENT

                                January 18, 2001

Gentlemen:

The following terms, covenants and conditions (the "Agreement") shall be
applicable to the financial accommodations described herein from NAVARRE
CORPORATION, a Minnesota corporation ("Navarre") to Bodyguard Records.com, Inc.,
a Delaware corporation ("Label"):

1. Navarre in its role as a distributor for Label may advance funds to third
parties or commit to pay third parties on behalf of Label for advertising,
manufacturing costs and other chargebacks. All such amounts due from Label to
Navarre shall be defined herein as the "Outstanding Credit Balance." Navarre's
agreement to advance funds to or make contractual commitments on behalf of Label
shall be solely discretionary and, among other things, are expressly conditioned
upon Label's timely performance of its obligations contained in the National
Distribution and Warehousing Agreement dated January 18, 2001, by and between
Label and Navarre (the "Distribution Agreement"). As used herein, "Outstanding
Credit Balance" shall be equal to the amount, if any, resulting from monies due
from Label to Navarre as a distributor at any time currently on an operating
basis, including, without limitation, advertising, manufacturing costs and other
chargebacks.

As set forth in the Distribution Agreement, Navarre is intended to be the
exclusive distributor for Label for all artists and categories of artists
described in the Distribution Agreement.

2. Navarre shall automatically recoup the Outstanding Credit Balance by applying
amounts otherwise due Label under the Distribution Agreement on a
dollar-for-dollar basis until the Outstanding Credit Balance is repaid in full.

Notwithstanding anything to the contrary contained herein, the entire balance of
the Outstanding Credit Balance shall be due and payable as specified in the
Distribution Agreement or, if not sooner made, immediately upon termination of
the Distribution Agreement.

Label's failure to make timely payment to Navarre of any Outstanding Credit
Balance within the time frame specified in the Distribution Agreement shall
constitute an "Event of Default" hereunder and shall entitle Navarre to exercise
any of its rights and remedies under the

                                     - 1 -

<PAGE>

Distribution Agreement including, without limitation, Navarre's right to
immediately cease manufacturing, advertising and distribution of Label's
recordings.

3. Notwithstanding anything to the contrary contained herein or in the
Distribution Agreement, Navarre's agreement to advance funds or contract for
advertising, manufacturing costs and other chargebacks shall be solely at
Navarre's discretion.

        (a)     In addition, Navarre specifically represents that it will make
                no such advances or commitments until the following conditions
                have been satisfied: (i) seven (7) days have elapsed after Label
                has provided to Navarre, and Navarre has reviewed and approved,
                copies of any and all agreements between Label and any artists,
                performers, or publishers relating to the recordings to be
                distributed by Navarre and, if requested by Navarre, waiver and
                release agreements signed by such artists, performers and
                publishers as Navarre may request and (ii) Charles E. Cheney has
                signed a resolution evidencing that Navarre's advance group has
                approved the advance and (iii) Navarre has received the
                exclusive letter of distribution.

        (b)     Label and Navarre shall have entered into a mutually acceptable
                Distribution Agreement providing that the agreement may not be
                terminated by Label if it is in default hereunder.

        (c)     Label and Navarre shall have entered into mutually acceptable
                Manufacturing Agreement (the "MANUFACTURING AGREEMENT")
                PROVIDING THAT THE agreement may not be terminated by Label if
                it is in default hereunder.

4. As soon as Masters are available, Label shall deliver to Navarre two copies
of the Master of each recording created by Label or any artists under contract
with Label that are being distributed by Navarre, together with such other
reasonable documentation as Navarre may reasonably request.

5. Unless sooner terminated by either party pursuant to the provisions hereof,
the original term of this Agreement shall commence as of the date hereof and
continue thereafter until the Distribution Agreement has been terminated.

6. In order to induce Navarre to make financial accommodations to Label, Label
hereby warrants and represents to Navarre as follows:

        (a) CORPORATE EXISTENCE, POWER AND AUTHORITY. Label is a corporation
        duly organized and validly existing in the State of Delaware, and is
        fully qualified to do business and in good standing in the State of
        Delaware, and in every other jurisdiction wherein the nature of its
        businesses or the character of its properties makes such qualification
        necessary, and has all requisite power and authority to carry on its
        businesses as now conducted and as presently proposed to be conducted.
        Label has full power and authority to execute and deliver this
        Agreement, and all other documents contemplated herein and therein
        (collectively, the "Label Documents") and to incur and perform its
        obligations hereunder

                                      - 2 -

<PAGE>

and thereunder. Label Documents each constitute the legal, valid and binding
obligations of Label enforceable in accordance with their respective terms.

(b) LITIGATION. There is no action, suit or proceeding pending or, to the
knowledge of Label, threatened against or affecting Label which, if adversely
determined, would have a material adverse effect on the condition (financial or
otherwise), business, properties or assets of Label or which would question the
validity of Label Documents or any instrument, document or other agreement
related hereto or required hereby, or impair the ability of Label to perform its
material obligations under the foregoing agreements.

(c) LICENSES AND INFRINGEMENT. Label possesses adequate licenses, permits,
franchises, patents, copyrights, trademarks and trade names, or rights thereto,
to conduct its respective business substantially as now conducted and as
presently proposed to be conducted. There does not exist and there is no reason
to anticipate that there may exist, any liability to Label with respect to any
claim of infringement regarding any patent, copyright, trademark, trade name or
other intellectual property right relating to the "Collateral" (as defined in
the Distribution Agreement), which would have a material adverse effect on
Label's business.

(d) DEFAULT. Label is not in default of a material provision under any material
agreement, instrument, decree or order to which it is a party or by which it or
its respective property is bound or affected, except minor defaults which would
not in the aggregate HAVE A MATERIAL ADVERSE EFFECT ON LABEL'S BUSINESS.

(e) CONSENTS. No consent, approval, order or authorization of any governmental
authority or any third party is required in connection with the execution and
delivery of Label Documents, or any of the agreements or instruments herein
mentioned or the carrying out or performance of any of the transactions required
or contemplated hereby or thereby or, if required, such consent, approval, order
or authorization has been obtained by Label prior to the date hereof.

(f) TAXES. Label has filed all tax returns required to be filed and either paid
all taxes shown thereon to be due, including interest and penalties, which are
not being contested in good faith and by appropriate proceedings, or provided
adequate reserves for payment thereof, and none of them have any information or
knowledge of any objections to or claims for additional taxes in respect of
federal income or excess profits tax returns for prior years.

(g) TITLES, ETC. Each artist who receives any portion of an advance for any
album released by Navarre is under exclusive contract with respect to that album
and no party other than Navarre has any distribution rights in the album for
which the advance was paid except as otherwise specifically set forth herein and
in the Distribution Agreement. Except for the "Permitted Interests" described in
Section 7.(c) below, the security interest granted to Navarre by Label pursuant
to the Distribution Agreement, constitutes a valid and perfected first lien in
and to the collateral described therein and there are no undisclosed liabilities
or obligations relating thereto.

<PAGE>

7. On and after the date hereof and until full payment of Label's obligations,
Label agrees that, unless Navarre shall otherwise consent in writing:

        (a) TAXES AND CLAIMS. Label shall pay and discharge all taxes,
        assessments and governmental charges or levies imposed upon it or upon
        its respective income or profits, or upon any of its assets or
        properties, prior to the date on which penalties attach thereto, and all
        lawful claims which, if unpaid, might become a lien or charge upon the
        collateral respective property or assets; provided, however, that Label
        shall not be required to pay any such tax, assessment, charge, levy or
        claim the payment of which is being contested in good faith and by
        proper proceedings and for which it shall have set aside on its books
        adequate reserves therefor.

        (b) MAINTENANCE OF EXISTENCE; CONDUCT OF BUSINESS. Label shall maintain
        its corporate existence and preserve all of its rights, privileges and
        franchises necessary in the normal conduct of its business and conduct
        its business in an orderly, efficient and regular manner.

        (c) LIENS. Label will not create, incur, assume or suffer to exist any
        mortgage, lease, deed of trust, pledge, lien, security interest, or
        other charge or encumbrance of any nature on any of the collateral
        described in the Distribution Agreement, now owned or hereafter
        acquired, securing any indebtedness or obligation to Navarre, except
        liens granted in favor of Navarre.

        (d) PERMITS AND LICENSES. Label shall obtain and maintain all necessary
        state, federal, local and private clearances, authorizations, permits
        and licenses with respect to the business operations of Label,
        including, without limitation, any licenses required in connection with
        use or sale of the collateral described in the Distribution Agreement.

8. This Agreement and the Distribution Agreement shall be governed by and
construed in accordance with the laws of the State of Minnesota.

9. As used herein, the terms "default" or "Event of Default" shall include a
material default by Label under this Financing Agreement, or the Distribution
Agreement. All capitalized terms not otherwise defined herein shall be as
defined in the Distribution Agreement.

10. This Agreement may be executed in any number of counterparts, all of which
taken together shall constitute one agreement, and any of the parties hereto may
execute this Agreement by signing any such counterpart.

11. All notices, consents, requests, demands and other communications hereunder
shall be given to or made upon the respective parties hereto at their respective
addresses specified below or, as to any party, at such other address as may be
designated by it in a written notice to the other party. All notices, requests,
consents and demands hereunder shall be effective when personally delivered or
duly deposited in the United States mails, certified or registered, postage
prepaid, or delivered to the telegraph company, addressed as aforesaid.

                                     - 4 -

<PAGE>

 with a copy to:

   IF TO NAVARRE                         with a copy to:

   Navarre Corporation                   Winthrop & Weinstine, P.A.
   7400 49th Avenue North                3000 Dain Rauscher Plaza
   New Hope, Minnesota 55428             60 South Sixth Street
                                         Minneapolis, Minnesota 55402
                                         Attention: Scott J. Dongoske

   IF TO LABEL:                          with a copy to:

   John Rollo                            Winthrop & Weinstine, P.A.
   Bodyguard Records.com, Inc.           3000 Dain Rauscher Plaza
   138 Fulton                            60 South Sixth Street
   New York, NY 10038                    Minneapolis, Minnesota 55402
                                         Attention: Scott J. Dongoske

Please indicate your acceptance of the terms and conditions of this Agreement by
signing it in the space provided below.

NAVARRE CORPORATION                BODYGUARD RECORDS.COM, INC.

By:  /s/ Illegible                     By:  /s/ John Rollo
     ---------------                        -----------------

     Its  CFO                      Its   President
          -------------                  -----------------

                                     - 5 -MANUFACTURING AGREEMENT

                              (CD/CS/VINYWIDEO/DVD)

  JANUARY 18, 2001

  Dear Bodyguard Records.com, Inc.:

  We have developed a manufacturing service for the labels and publishers that
  we distribute exclusively on a national basis. We have contracted with
  manufacturers that can duplicate recordings on cassettes, compact discs,
  CD-ROM and DVD. If you choose to participate in this service the only cost to
  you, in addition to the final cost of duplication and production, is a seven
  percent administration fee applied to manufacturers final invoice. Our policy
  is to manufacture only sku's which we distribute through our National
  Distribution and Warehousing Agreement. However, we reserve the right to
  review special projects on a case by case basis. In the event we agree to
  manufacture any sku not being distributed by us an additional 15% fee will be
  added to the manufacturing invoice. NAVARRE RESERVES THE RIGHT TO SUSPEND ALL
  MANUFACTURING FOR ANY LABEL/PUBLISHER WHOSE PAVABLES ARE IN DEBIT BALANCE PAST
  THE 60 DAY DUE DATE. Our manufacturing coordinator will act as a liaison among
  you, us and the duplicating manufacturer.

           1. YOUR UNDERTAKING.

               (a)  You will produce and provide the selected manufacturer with:
                    (i) duplication masters; (ii) film for CD IMPRINTING; (III)
                    film or copy for cassette imprinting; (iv) all artwork
                    design; (v) and all printed materials included in the
                    finished recorded products.

               (b)  You agree that you will issue orders to us for the
                    duplication of the master recordings. You understand that
                    our current MANUFACTURING CONTRACT requires new orders of
                    compact discs to be at least 1,000 units, with reorders of
                    at least 500 units. Minimum order quantities under our
                    current cassette manufacturing agreement are 300 units for
                    new orders, and 200 units for reorders. These orders will be
                    shipped to us for inclusion in your inventory and held in
                    our warehouse.

               (c)  You will pay us net 75 days, from the date of the shipment
                    to us from the manufacturer.

               (d)  You agree that 100 percent of your overall production
                    requirements will be covered by this agreement.

<PAGE>

      (e)   You understand that we may, at our reasonable and in good faith
            discretion, establish credit limits for your orders.

  2.  OUR UNDERTAKING. We will contract with competent and ethical manufacturers
      that will promptly duplicate your master recordings. Our manufacturers, in
      accordance with industry standards, may do up to 10% in overruns. Your
      current pricing, excluding administration cost (7(degree),%), is found on
      Exhibits A. B and C to this agreement. We will include the substance of
      the following provisions in our contracts with the manufacturers to
      protect your interests.

      (a)   The work of the manufacturer shall be of first-class quality and
            shall be performed promptly and in compliance with the instructions
            contained in our purchase orders.

      (b)   We shall have the right to be present at the manufacturing facility
            during the manufacturing process in order to determine that quality
            standards are being maintained.

      (c)   Defective product (exceeding 1 % of production) shall be replaced or
            credited to your account at your option. Significant quality
            problems, identified by you or us, or by customers may result in the
            recall of an entire production run. The manufacturer agrees to treat
            the whole run as defective because of the adverse impact for you,
            us, the artists, and retail outlets should defective merchandise
            FIND ITS WAY INTO THE HANDS OF CONSUMERS.

      (d)   Navarre, its labels or their representatives may audit the records
            of the manufacturer, upon reasonable notice, to ensure compliance
            with the manufacturing contract. You shall have the right, upon
            reasonable prior notice, to inspect and copy our books and records
            at our usual place of business insofar as they relate to this
            agreement. In addition, we agree to provide you with this right of
            inspection and audit, as aforesaid, with respect to the books and
            records of the manufacturers) with which we contract for the purpose
            of this agreement. Information supplied for review and audit will be
            relative only to manufacturing and duplication for your product.

     (e)  Title to all the master recordings shall at all times reside with its
          owners.

     (f)  You have the right, at any time, to require the manufacturer to
          immediately return any or all master recordings.

                                        2

<PAGE>

      (g)  The manufacturer shall take all necessary precautions to avoid damage
           or loss of the master recordings. The manufacturer will insure the
           master recordings, for our and your benefit.

      (h)  The manufacturer will acknowledge and agree that the master
           recordings contain protectable works, and it will protect these works
           from bootlegging, unauthorized use and copying, to the best of its
           ability. This representation is given for your and our benefit as
           well as for the benefit of the artists and any others having
           interests in the works.

      (i) In the case of bootlegging or unauthorized duplication of master
          recordings the manufacturer, to the extent it is responsible for the
          problem, will indemnify you and all other parties having protectable
          interests in the works. In any such case, you shall have the right to
          direct the prosecution of any claim, action or suit at the
          manufacturer's expense.

      (j) Manufactured inventory will be insured by the manufacturer at it's
          sole cost and expense until such time as it arrives at Navarre's
          designated location at which time the insurance will be carried by
          Navarre at its sole expense.

     YOUR REPRESENTATIONS.

      (a)  The master recordings that you will provide us will not infringe upon
           any statutory or common law right, or infringe the right of privacy
           of any person, or contain any slanderous or libelous material or any
           material otherwise unlawful or in contravention of the rights of any
           person. You make this for our benefit and for the benefit of the
           manufacturers we have or will contract with.

  4. INSOLVENCY OR BANKRUPTCY.

      (a)   In case of our insolvency or that of manufacturer, we will contract
            to ensure you have the right to receive the master recordings upon
            request.

  5. TERM AND TERMINATION.

     (a)  This agreement shall take effect as of January 18, 2001 and shall
          continue in force until March 31, 2001 unless sooner terminated.

     (b)  You understand that our agreement with the manufacturers may be
          subject to termination or change without notice. However, they are
          typically two year agreements with typical termination provisions.

<PAGE>

     (c)  We have the absolute right to amend this agreement, to reflect changes
          in the terms of existing or future contracts we have with the
          manufacturers, by giving you written notice of the changes. Orders
          placed prior to our giving you notice of a price change will be
          produced at the existing prices, or you will have the right to cancel
          the order. If you don't agree with these changes you can terminate
          this agreement by giving us written notice. Notwithstanding the
          foregoing, we shall not charge you any price which is less favorable
          than the price received by us from the manufacturer.

     (d)  If either of us has breached an obligation herein, and having received
          14 days written notice of same and a demand to rectify the b:z!ach,
          having failed to rectify same to the satisfaction of the party giving
          the notice, the non-breaching party may terminate this agreement.

     6.   Your Understanding. You understand that the transactions covered by
          this agreement are meant to facilitate the sale of recorded optical
          media products by us for our mutual benefit. Accordingly, you agree
          that we will not be held responsible for delays or defective
          performance by the manufacturer. In no event will we be liable for
          damages for such delays or defective performance, including any
          special, incidental or consequential damages, even if we have
          knowledge of the possibility of such potential loss or damage.

     7.   Entire Agreement This letter sets forth our entire understanding. If
          the foregoing correctly sets forth our agreement, please so indicate
          below.

          NAVARRE CORPORATION

          /s/ James S. Chiado
          -------------------
          James S. Chiado
          Vice President/General Manager
          Independent Music Distribution Division

                                                  Confirmed and Accepted
                                                  Bodyguard Records.com, Inc.

                                                  /s/ John Rollo
                                                  ----------------
                                                  By

                                                  President
                                                  ----------------
                                                  Title

                                                  1-23-01
                                                  ----------------
                                                  Date

<PAGE>

                                    EXHIBIT A

[GTS Clear Shell, Chrome high bias tape (or equivalent), Imprinted, Artwork
Inserted, Clear Norelco, Cellophane Overwrap]

                     CASSETTE TYPE              UNIT PRICE
                     -------------              ----------

                         C-10                      $0.39
                         C-20                      $0.41
                         C-30                      $0.45
                         C-45                      $0.50
                         C-60                      $0.54
                         C-70                      $0.58
                         C-90                      $0.65

Freight to Navarre is paid by manufacturer on all orders of 5,000 units or more

          * These prices include: (i) Clear or Black Clear Norelco Box; (ii)
     Cassette Shell Imprinting; (iii) Card Insertion; and (iv) Shrink Wrap.
     Stickering is an additional $0.05 per unit. (Pricing for other tape lengths
     will be determined by extrapolation from these prices.) Freight charges are
     waived.

                         PROJECTED PRODUCTION LEAD TIMES

     Quoted lead times are dependent upon your providing the manufacturer with
     production components (film and copy for imprinting, artwork design and
     printed materials). ADD APPROXIMATELY FIVE DAYS FOR TRANSIT TIME.
     Production periods (including peak production season) are as follows: new
     orders are ready in 5-6 days; reorders are ready in 3-4 days. "FOR ORDERS
     REQUIRING HAND PACKAGING, HAND INSERTION, HAND STICKERING, ETC. PLEASE ADD
     AN ADDITIONAL 1-2 DAYS DEPENDING ON SIZE OF ORDER.

                   CURRENT PRICES FOR OPTICAL DISC DUPLICATION

     [Price listed includes Raw Disc, 3 color imprinting, packaged with
     insertion of printed materials in a shrink wrapped standard jewel box with
     tear strip, and top spining. Freight to Navarre is paid by manufacturer -
     an additional savings to you of approx. 6 cents per unit]

                            BASIC DUPLICATION CHARGE:

                    $0.71 per Disc** (Includes cost of raw CD, jewel box,
                    artwork insertion, top spine)

     **On-site glass mastering from DAT, EXABYTE, or 9 track tape master is
     included in this unit price.

                                        5

<PAGE>

                                    EXHIBIT B

                                     Pricing

<TABLE>
<CAPTION>
<S>                                                        <C>
                        *Raw Disc:                         $.47
                        **Jewel Box:                       $.21
                        Top Spine Label:                   $.03
                        Stickers:                          $.O1 automated, $.02 hand applied
                        Hand Packing:                      $.OS per move
                        Clear Tray                         $.005

                        Mastering:                         Waived on Compact Discs
                        Mastering:                         Waived on CD-ROM orders over 1,000 units
                        Shipping:                          Waived for regular ground shipments to Navarre*.
                                                           You will be charged
                                                           the difference
                                                           between regular
                                                           ground and expedited
                                                           freight if you
                                                           request overnight
                                                           shipments to Navarre.
                                                           (THIS REPRESENTS A
                                                           SAVINGS TO YOU OF
                                                           APPROXIMATELY $0.06
                                                           PER UNIT)
</TABLE>

  You will be charged the difference between regular ground and expedited
  freight if you request overnight shipments to Navarre *(This represents a
  savings to you of approximately $0.05 per unit)

               *    Includes up to 3 PMS color printing.

               *    Includes poly-overwrap with integral "zip strip" and artwork
                    insertion.

ADDITIONAL SERVICES

Additional CD Imprint Colors( 4th & 5th) Stickering (roll-stock that you will
provide) Hologram Security Seal (roll-stock that you will provide) Hole punch
artwork for promo Insert Response Card EAS Source Tagging Application

 UNIT PRICE

 $0.03 each $0.01 automated; $0.02 hand appl.
 $0.02
 0.02
 $0.02

 N/C to label (a savings to you of
 3 cents per unit)

                                        6

<PAGE>

                ADDITIONAL PACKAGE OPTIONS                        UNIT PRICE***

                Disc in Tyvec                                     $0.15
                Slimline Jewelbox w/o graphics                    $0.27
                Slimline Jewelbox w/insert                        $0.32
                Viewpak                                           $0.25
                Viewpak w/insert                                  $0.30
                Brilliant Double Jewel Box                        $0.50
                Standard Quad Jewel Box                           $0.66
                Additional External Packaging and Assembly        By Quotation

                         PROJECTED PRODUCTION LEAD TIMES

  Quoted lead times are dependent upon your providing the manufacturer with
  production components (film for imprinting, artwork design and printed
  materials). ADD APPROXIMATELY FOUR - FIVE DAYS FOR TRANSIT TIME. New orders in
  non-peak production times are ready : CD 5 days, Cassette 5 days. In peak
  production periods new orders are ready : CD 5-7 days, Cassettes 3-4 days.
  "FOR ORDERS REQUIRING HAND PACKAGING, HAND INSERTION, HAND STICKERING, ETC.
  PLEASE ADD 1-Z DAYS DEPENDING ON SIZE OF ORDER.

  THESE PRICES ARE EFFECTIVE APRIL 1ST THROUGH MARCH 31st OF THE ONE-YEAR
  PERIOD. IT MAY THEREFORE BE NECESSARY FOR YOU TO SIGN A NEW MANUFACTURING
  CONTRACT REFLECTING NEW PRICING BEFORE YOUR FIRST CONTRACT EXPIRES.

                                       7

<PAGE>

                                    EXHIBIT C

                               Navarre Corporation

        DVD PRICING: PRE MASTERING - MASTERING - REPLICATION - PACKAGING

PREMASTERING: $10,000. CREDIT / NO CHARGE WITH REPLICATION ORDER OF 50,000 OR
MORE.

     Additional charges will apply for premastering service that exceeds this
agreed amount. Variable Bit Rate (VBR) MPEG 2 Encoding: $60.00 per minute AC-3
Audio Encoding (six-channel): $20.00 per minute MPEG/AC-3 Audio Encoding
(two-channel): $8.00 per minute Authoring: $250.00 per hour Graphic/Menu Design:
$125.00 per hour QC Emulation: $6.00 per minute Output To DLT (including stock):
$150.00 each NOTE: One AC-3 (two channel) or one MPEG stereo audio track is
included in the video encoding cost at no additional charge if the audio is
provided on the source videomaster.

CHECK DISC PACKAGE: NO CHARGE WITH REPLICATION ORDER OF 2500 UNITS OR MORE.
CHECK DISC PACKAGE INCLUDES MASTERING AND 20 DVD SAMPLE REPLICAS IN JEWEL CASE
NO/PRINT.

MASTERING CHARGES: DVD-5 $1500.00 / DVD-9 $2500. / DVD-10 $2500. MASTERING
CHARGES APPLY TO NAVARRE/CUSTOMER CHANGES OR NEW ORDERS UNDER 2500 UNITS.

<TABLE>
<CAPTION>
  REPLICATION CHARGES:

  ORDER QTY.                 REPLICATION DVD-5          REPLICATION DVD-9          REPLICATION DVD-10
<S>      <C>                 <C>                        <C>                        <C>
  1000 - 24999               $1.10 EACH                 $1.60 EACH                 $1.30 EACH
  25000 - 49999              $1.05 EACH                 $1.50 each                 $1.20 EACH
  50000 - 99999              $1.00 each                 $1.40 each                 $1.15 EACH
  100000 OR MORE             $0.95 EACH                 $1.30 EACH                 $1.10 EACH

  Replication includes I to 3 color disc printing. Add $0.03 each for additional colors to six.
  DVD Label film supplied to specifications or $15.00 per film output from electronic file (CDR-Zip
  Floppy)
  Output Label film color key (if required): $35.00
  New Order / Turnaround: to ship no later than the 10t' day.
  Re Order / Turnaround: to ship no later than the 9' day.
  Minimum Re Order Quantity: 500 units
  Sticker Applications: Automated $0.01 each / Manual $0.02 each
  Top Spine: Print and apply $0.03 each
  Packaging: Disc, insert customer supplied sleeve, In amaray style DVD case, wrap $0.39 each
  Sensormatic Security Tag: Tag and apply $0.09 each

  Shipping: Pricing includes ground freight to Navarre Corporation.
</TABLE>

                                        8

<PAGE>

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