Document:

NUMBER B                                                                WARRANTS

                           ELITE PHARMACEUTICALS, INC.

                         COMMON STOCK PURCHASE WARRANTS

THIS CERTIFIES THAT:

IS THE OWNER OF

OR REGISTERED  ASSIGNS, IS ENTITLED TO PURCHASE ONE FULLY PAID AND NONASSESSABLE
SHARE OF ELITE PHARMACEUTICALS,  INC., A DELAWARE CORPORATION (HEREIN CALLED THE
COMPANY) FOR EACH  WARRANT  EVIDENCED  BY THIS  CERTIFICATE  FOR $5.00 PER SHARE
COMMENCING JUNE 23, 1999 AND EXPIRING JUNE 23, , 2004,  UPON ITS SURRENDER,  AND
PAYMENT OF THE PURCHASE PRICE AT THE AGENT'S OFFICE,  201 BLOOMFIELD AVE VERONA,
NEW JERSEY 07044 SUBJECT TO THE FOLLOWING CONDITIONS:

1. THE EXERCISE PRICE IS PAYABLE IN CASH, CERTIFIED CHECK OR BANK DRAFT.

2.  ADJUSTMENT IN THE EXERCISE  PRICE OR NUMBER OF SHARES  ISSUABLE WILL BE MADE
FOR  STOCK  SPLITS,  RECAPITALIZATION,  MERGER,  CONSOLIDATION  OR  OTHER  EVENT
AFFECTING  WARRANT  HOLDERS  INTEREST.  ADJUSTMENTS  FOR THE  STATED  EVENT WILL
MAINTAIN THE WARRANT  HOLDER'S SAME RELATIVE  POSITION TO THE COMPANY AS EXISTED
PRIOR TO EXERCISE.

3. WARRANT EXERCISE REQUIRES APPROPRIATE COMPLETION OF THE "ELETION TO PURCHASE"
PRINTED ON THE BACK OF THIS  CERTIFICATE,  IF THE EXERCISED SHARES ARE LESS THAN
THE TOTAL NUMBER OF WARRANTS ON THE BACK OF THIS  CERTIFICATE.  IF THE EXERCISED
SHARES ARE LESS THAN THE TOTAL NUMBER OF WARRANTS CONTAINED IN THIS CERTIFICATE,
THE HOLDER WILL BE ISSUED A NEW  CERTIFICATE  GIVING CREDIT FOR THE  UNEXERCISED
WARRANTS.

4. NO  FRACTIONAL  SHARES WILL BE ISSUED  UPON  EXERCISE.  THE COMPANY  WILL PAY
HOLDERS THE  PROPORTIONATE  PURCHASE  PRICE FOR ANY  FRACTIONAL  SHARES  ARISING
THROUGH ADJUSTMENTS.

5. THIS CERTIFICATE CONTAINS ALL THE WARRANT AND RIGHTS OF THE WARRANT HOLDER.

6. THE HOLDER OR HIS AUTHORIZED  AGENT IS ENTITLED TO EXCHANGE THIS  CERTIFICATE
FOR NEW CERTIFICATES TOTALING EQUIVALENT WARRANTS IN NUMBER AND CLASS TO THE OLD
UPON PAYMENT OF THE WARRANT AGENT'S FEE.

7.  HOLDERS CAN  REGISTER  OR  TRANSFER  CERTIFICATES  AT THE  WARRANTS  AGENT'S
PRINCIPAL  OFFICE AFTER PAYMENT OF FEES AND APPLICABLE  TAXES.  NEW CERTIFICATES
WILL BE EQUIVALENT TO THE OLD AND TOTALING THE WARRANTS  ISSUED TO THE HOLDER OR
HIS  TRANSFEREE  IN  EXCHANGE  FOR THE OLD,  AND  CONTAINING  THE SAME TERMS AND
WARRANT AMOUNTS.

8. PRIOR TO PRESENTMENT FOR  REGISTRATION  OR TRANSFER,  THE COMPANY AND WARRANT
AGENT MAY TREAT THE  REGISTERED  WARRANT  HOLDER AS THE  ABSOLUTE  OWNER OF THIS
CERTIFICATE FOR EXERCISE, TRANSFER, OR ANY OTHER PURPOSE AND NEITHER THE COMPANY
NOR THE  WARRANT  AGENT  SHALL BE  AFFECTED  BY ANY  NOTICE  IN  WRITING  TO THE
CONTRARY.

9. IF THIS  CERTIFICATE IS SURRENDERED FOR WARRANT  EXERCISE WHILE THE COMPANY'S
TRANSFER BOOKS ARE CLOSED,  SHARE CERTIFICATE WILL NOT BE ISSUED UNTIL THE BOOKS
ARE REOPENED FOR TRANSFER.

10.  THIS  WARRANT IS NOT  EXERCISABLE  BEYOND THE  EXPIRATION  DATE SHOWN ABOVE
UNLESS  EXTENDED  IN WRITING BY THE  COMPANY.  FAILURE TO  EXERCISE  SOME OR ALL
WARRANTS WITHIN THE TIME PERIOD VOIDS THEM.

      COUNTERSIGNED;

DATED:                                               JERSEY TRANSFER & TRUST CO.
                             201 BLOOMFIELD AVE. (P.O. BOX 36), VERONA, NJ 07044
                                                                  TRANSFER AGENT
  ELITE PHARMACEUTICALS, INC.

                                                            AUTHORIZED SIGNATURE

                  SECRETARY                      PRESIDENT[LETTERHEAD OF GOLDMAN & GITTELMAN, P.C.]

January 26, 1998

Dr. Atul Mehta, CEO
Elite Pharmaceuticals, Inc. and Subsidiary
230 West Passaic Street
Maywood, NJ 07607

RE: PROPOSAL FOR SERVICES

Dear Dr. Mehta:

In light of our recent discussions,  you have expressed an interest in retaining
our firm as internal accountants and financial and management consultants. It is
our mutual  understanding  that our services  will be an integral  part of Elite
Pharmaceuticals,  Inc. and Subsidiaries going forward and after its registration
of shares with the Securities and Exchange Commission.

Should  Elite  require the audit  services of our firm in the future,  after the
necessary  waiting  period  required by SEC  regulations  and the SECPS Practice
Section  of  the  AICPA,  we  will  relinquish  all  services  that  impair  our
independence and will refer all duties to Elite's designated financial officer.

If the foregoing  proposal is  acceptable,  we would  relinquish our position as
independent  auditors  for  Elite and we would no  longer  be  independent  with
respect  to Elite  under the Code of  Ethics,  as  promulgated  by the  American
Institute of  Certified  Public  Accountants,  and the  Securities  and Exchange
Practice Section.

The following  services will be rendered by Goldman & Gittelman,  P.C. on behalf
of Elite (this list is not intended to be all inclusive):

      o     Monthly compilation of Elite Labs and Elite Pharmaceuticals.

      o     Installation  of  computer  accounting  system in  conjunction  with
            outside computer hardware and software vendors.

      o     Training and  coordination  of bookkeeping  and/or  controller  when
            hired.

<PAGE>

Dr. Atul Mehta, CEO
Elite Pharmaceuticals, Inc. and Subsidiary
Page 2
January 26,1998

      o     Financial consulting including:

            1.    Cash investment management.

            2.    Review and negotiations of all lease agreements.

            3.    Negotiation  and  maintenance  of bank  financing  and  credit
                  facilities.

      o     Recommendation of independent  auditors,  subject to approval by the
            Company's  Board of Directors and its audit  committee and SEC Legal
            Counsel, and preparation of all schedules and information  necessary
            during the audit.

      o     Coordination  of audit  fieldwork  and review of  audited  financial
            statements  for final  approval  by the Board of  Directors  and its
            audit committee.

      o     Preparation  of 10K and 10Q reports to be filed with the  Securities
            and Exchange Commission,  in coordination with the Company's outside
            auditors and SEC Legal Counsel.

      o     Preparation of consolidated corporation tax returns and tax planning
            issues.

      o     Attendance at Board of Directors meetings as required.

      o     Any other services requested by the Company.

Rates  charged for the above  services  will be  discounted by 25% of our firm's
standard hourly rates. My current rate at January 1, 1998 will be $147 per hour.
The rate charged to Elite will be $110 per hour.  The average rate for my staff,
after  discount,  will be $75 per hour.  We agreed to maintain this rate through
December 31, 1998 and will discuss any rate increases at that time.

Initially,  we expect to budget 24 hours per month for the year  ended  December
31, 1998, or 288 hours annually. However, all hours will be billed as incurred.

<PAGE>

Dr. Atul Mehta, CEO
Elite Pharmaceuticals, Inc. and Subsidiary
Page 3
January 26, 1998

Based  on our  budget,  the  total  annual  fee is  projected  at  $28,800  plus
disbursements.  We are proposing a monthly  retainer fee of $2,400 to be set off
against actual hours incurred.  On a quarterly basis (April 1, July 1, October 1
and  January  1) we will  present  you with a  reconciliation  of  actual  hours
incurred,  including a detailed  analysis of these  services,  as reduced by the
monthly  retainer  fee.  Should the actual  hours  incurred  exceed the retainer
payments,  Elite will make  payment on this  excess,  based on the hourly  rates
specified above, within 30 days of invoice presentation.

On a quarterly  basis,  should the  retainer  payments  exceed the actual  hours
incurred,  Elite will receive a credit against the subsequent  monthly  retainer
payments  until  the  overpayment  is  fully  offset.   All   disbursements  and
out-of-pocket costs will be billed monthly along with the retainer fee.

This  proposal  has already been  reviewed by Elite's SEC legal  counsel and has
been approved by the Board of Directors.

We believe  the above  arrangement  will be  beneficial  to all parties and will
provide  Elite with the level of service it will require over the coming  years.
Goldman & Gittelman,  P.C. has enjoyed a fine  relationship with Elite since its
inception and we look forward to continuing our relationship  well into the next
millennium.

Very truly yours,

GOLDMAN & GITTELMAN, P.C.

/s/ Mark I. Gittelman

Mark I. Gittelman, CPA

MIG/vr

The above  constitutes  our contract  together which can be terminated by either
party subject to 30 days written notice. I have read it and understand its terms
and provisions.

Accepted by: /s/ Atul M. Mehta                                 January 29, 1998
             ------------------------------------------        ----------------
             Dr. Atul Mehta, President and CEO                       Date
             Elite Pharmaceuticals, Inc. and SubsidiaryExhibit 10.1

Consent of Independent Registered Public Accounting Firm

We consent to the use, in this Annual Report of Localiza Rent a Car S.A. on Form
20-F filed on June 29, 2004 (File No. 333-8128), which is incorporated by
reference in the Registration Statement on Form F-3 filed on August 24, 2001
(Registration No. 333-13852), of our report dated April 2, 2004

Belo Horizonte, Brazil

June 29, 2004

/s/ Deloitte Touche Tohmatsu Auditores IndependentesExhibit 10.2

Consent of Independent Registered Public Accounting Firm

We consent to the use, in this Annual Report of Localiza Franchising S.A. on
Form 20-F filed on June 29, 2004 (File No. 333-8128-01), which is incorporated
by reference in the Registration Statement on Form F-3 filed on August 24, 2001
(Registration No. 333-13852-01), of our report dated April 2, 2004.

Belo Horizonte, Brazil

June 29, 2004

/s/ Deloitte Touche Tohmatsu Auditores Independentes

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