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                                                      Exhibit 4.2

                    RENAISSANCE HOLDINGS, INC.

                    1997 STOCK INCENTIVE PLAN

     1.   Purpose.  The purpose of this 1997 Stock Incentive Plan
(the "Plan") is to enable Renaissance Holdings, Inc., an Oregon
corporation (the "Company") to attract and retain the services of
(1) selected employees, officers and directors of the Company or
of any subsidiary of the Company and (2) selected nonemployee
agents, consultants, advisors  and independent contractors of the
Company or any subsidiary.

     2.   Shares Subject to the Plan.  Subject to adjustment as
provided below and in Section 7, the shares to be offered under
the Plan shall consist of Common Stock of the Company, and the
total number of shares of Common Stock that may be issued under
the Plan shall not exceed 850,000 shares.  The shares issued
under the Plan may be authorized and unissued shares or
reacquired shares.  If an option granted under the Plan expires,
terminates or is canceled, the unissued shares subject to such
option shall again be available under the Plan.

     3.   Effective Date and Duration of Plan.

          (a)  Effective Date.  The Plan shall become effective
as of August 11, 1997.  No option granted under the Plan shall
become exercisable, however, until the Plan is approved by the
affirmative vote of the holders of a majority of the shares of
Common Stock represented at a shareholders meeting at which a
quorum is present and any such awards under the Plan prior to
such approval shall be conditioned on and subject to such
approval.  Subject to this limitation, options may be granted and
shares may be awarded as bonuses or sold under the Plan at any
time after the effective date and before termination of the Plan.

          (b)  Duration.  The Plan shall continue in effect until
all shares available for issuance under the Plan have been issued
and all restrictions on such shares have lapsed.  The Board of
Directors may suspend or terminate the Plan at any time except
with respect to options subject to restrictions then outstanding
under the Plan.  Termination shall not affect any outstanding
options, any right of the Company to repurchase shares or the
forfeitability of shares issued under the Plan.

     4.   Administration.

          (a)  Board of Directors.  The Plan shall be
administered by the Board of Directors of the Company, which
shall determine and designate from time to time the individuals
to whom awards shall be made, the amount of the awards and the
other terms and conditions of the awards.  Subject to the
provisions of the Plan, the Board of Directors may from time to
time adopt and amend rules and regulations relating to
administration of the Plan, advance the lapse of any waiting
period, accelerate any exercise date, waive or modify any
restriction applicable to shares (except those restrictions
imposed by law) and make all other determinations in the judgment
of the Board of Directors necessary or desirable for the
administration of the Plan.  The interpretation and construction
of the provisions of the Plan and related agreements by the Board
of Directors shall be final and conclusive.  The Board of
Directors may correct any defect or supply any omission or
reconcile any inconsistency in the Plan or in any related
agreement in the manner and to the extent it shall deem expedient
to carry the Plan into effect, and it shall be the sole and final
judge of such expediency.

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          (b)  Committee.  The Board of Directors may delegate to
a committee of the Board of Directors or specified officers of
the Company, or both (the "Committee") any or all authority for
administration of the Plan.  If authority is delegated to a
Committee, all references to the Board of Directors in the Plan
shall mean and relate to the Committee except (i) as otherwise
provided by the Board of Directors and (ii) that only the Board
of Directors may amend or terminate the Plan as provided in
Sections 3 and 8.

     5.   Types of Awards; Eligibility.  The Board of Directors
may, from time to time, take the following actions, separately or
in combination, under the Plan:  (i) grant Incentive Stock
Options, as defined in Section 422 of the Internal Revenue Code
of 1986, as amended (the "Code"), as provided in Sections 6(a)
and 6(b);  (ii) grant options other than Incentive Stock Options
("Non-Statutory Stock Options") as provided in Sections 6(a) and
6(c); and (iii) issue shares of Common Stock as compensation or
for such other consideration as the Board of Directors shall deem
appropriate.  Any such awards may be made to employees, including
employees who are officers or directors, and to other individuals
described in Section 1 who the Board of Directors believes have
made or will make an important contribution to the Company or any
subsidiary of the Company; provided, however, that only employees
of the Company shall be eligible to receive Incentive Stock
Options under the Plan.  The Board of Directors shall select the
individuals to whom awards shall be made and shall specify the
action taken with respect to each individual to whom an award is
made.  At the discretion of the Board of Directors, an individual
may be given an election to surrender an award in exchange for
the grant of a new award.

     6.   Option Grants.

          (a)  General Rules Relating to Options.

               (i)  Terms of Grant.  The Board of Directors may
     grant options under the Plan.  With respect to each option
     grant, the Board of Directors shall determine the number of
     shares subject to the option, the option price, the period
     of the option, the time or times at which the option may be
     exercised and whether the option is an Incentive Stock
     Option or a Non-Statutory Stock Option.

               (ii)  Exercise of Options.  Except as provided in
     Section 6(a)(iv) or as determined by the Board of Directors,
     no option granted under the Plan may be exercised unless at
     the time of such exercise the optionee is employed by or in
     the service of the Company or any subsidiary of the Company
     and shall have been so employed or provided such service
     continuously since the date such option was granted.
     Absence on leave or on account of illness or disability, as
     described in 6(a)(iv)(A), shall not, however, be deemed an
     interruption of employment or service for this purpose,
     provided the optionee was employed or in the service of the
     Company or any subsidiary of the Company on the day one year
     before the date on which the option is exercised.  Unless
     otherwise determined by the Board of Directors, vesting of
     options shall not continue during an absence on leave
     (including an extended illness) or on account of disability.
     Except as provided in Sections 6(a)(iv) and 9, options
     granted under the Plan may be exercised from time to time
     over the period stated in each option in such amounts and at
     such times as shall be prescribed by the Board of Directors,
     provided that options shall not be exercised for fractional
     shares.  Unless otherwise determined by the Board of
     Directors, if the optionee does not exercise an option in
     any one year with respect to the full number of shares to
     which the optionee is entitled in that year, the optionee's
     rights shall be cumulative and the optionee may purchase
     those shares in any subsequent year during the term of the
     option.

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               (iii)  Nontransferability.  Each Incentive Stock
     Option and, unless otherwise determined by the Board of
     Directors, each other option granted under the Plan by its
     terms shall be nonassignable and nontransferable by the
     optionee, either voluntarily or by operation of law, except
     by will or by the laws of descent and distribution of the
     state or country of the optionee's domicile at the time of
     death.

               (iv)  Termination of Employment or Service.

                         (A)  General Rule.  Unless otherwise
          determined by the Board of Directors, in the event the
          employment or service of the optionee with the Company
          or a subsidiary terminates for any reason other than
          because of physical disability or death as provided in
          subsections 6(a)(iv)(B) and (C), the option may be
          exercised at any time prior to the expiration date of
          the option or the expiration of 90 days after the date
          of such termination, whichever is the shorter period,
          but only if and to the extent the optionee was entitled
          to exercise the option at the date of such termination.

                         (B)  Termination Because of Total
          Disability.  Unless otherwise determined by the Board
          of Directors, in the event of the termination of
          employment or service because of total disability, the
          option may be exercised at any time prior to the
          expiration date of the option or the expiration of
          12 months after the date of such termination, whichever
          is the shorter period, but only if and to the extent
          the optionee was entitled to exercise the option at the
          date of such termination.  The term "total disability"
          means a medically determinable mental or physical
          impairment which is expected to result in death or
          which has lasted or is expected to last for a
          continuous period of 12 months or more and which causes
          the optionee to be unable, in the opinion of the
          Company and two independent physicians, to perform his
          or her duties as an employee, director, officer or
          consultant of the Company and to be engaged in any
          substantial gainful activity.  Total disability shall
          be deemed to have occurred on the first day after the
          Company and the two independent physicians have
          furnished their opinion of total disability to the
          Company.

                         (C)  Termination Because of Death.
          Unless otherwise determined by the Board of Directors,
          in the event of the death of an optionee while employed
          by or providing service to the Company or a subsidiary,
          the option may be exercised at any time prior to the
          expiration date of the option or the expiration of 12
          months after the date of death, whichever is the
          shorter period, but only if and to the extent the
          optionee was entitled to exercise the option at the
          date of death and only by the person or persons to whom
          such optionee's rights under the option shall pass by
          the optionee's will or by the laws of descent and
          distribution of the state or country of domicile at the
          time of death.

                         (D)  Amendment of Exercise Period
          Applicable to Termination.  The Board of Directors, at
          the time of grant or, with respect to an option that is
          not an Incentive Stock Option, at any time thereafter,
          may extend the 90-day and 12-month exercise periods any
          length of time not longer than the original expiration
          date of the option, and may increase the portion of an
          option that is exercisable, subject to such terms and
          conditions as the Board of Directors may determine.

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                         (E)  Failure to Exercise Option.  To the
          extent that the option of any deceased optionee or of
          any optionee whose employment or service terminates is
          not exercised within the applicable period, all further
          rights to purchase shares pursuant to such option shall
          cease and terminate.

               (v)  Purchase of Shares.  Unless the Board of
     Directors determines otherwise, shares may be acquired
     pursuant to an option granted under the Plan only upon
     receipt by the Company of notice in writing from the
     optionee of the optionee's intention to exercise, specifying
     the number of shares as to which the optionee desires to
     exercise the option and the date on which the optionee
     desires to complete the transaction, and if required in
     order to comply with the Securities Act of 1933, as amended,
     containing a representation that it is the optionee's
     present intention to acquire the shares for investment and
     not with a view to distribution.  Unless the Board of
     Directors determines otherwise, on or before the date
     specified for completion of the purchase of shares pursuant
     to an option, the optionee must have paid the Company the
     full purchase price of such shares in cash or, with the
     consent of the Board of Directors, in whole or in part, in
     Common Stock of the Company valued at fair market value and
     other forms of consideration.  The Board of Directors shall
     make a good faith determination of the fair market value of
     Common Stock provided in payment of the purchase price.  If
     the Common Stock of the Company is not publicly traded on
     the date the option is exercised, the Board of Directors may
     consider any valuation methods it deems appropriate and may,
     but is not required to, obtain one or more independent
     appraisals of the Company.  If the Common Stock of the
     Company is publicly traded on the date the option is
     exercised, the fair market value of Common Stock provided in
     payment of the purchase price shall be the closing price of
     the Common Stock as reported in The Wall Street Journal on
     the last trading day preceding the date the option is
     exercised, or such other reported value of the Common Stock
     as shall be specified by the Board of Directors.  No shares
     shall be issued until full payment for the shares has been
     made.  With the consent of the Board of Directors (which, in
     the case of an Incentive Stock Option, shall be given only
     at the time of option grant), an optionee may request the
     Company to apply automatically the shares to be received
     upon the exercise of a portion of a stock option (even
     though stock certificates have not yet been issued) to
     satisfy the purchase price for additional portions of the
     option.  Each optionee who has exercised an option shall
     immediately upon notification of the amount due, if any, pay
     to the Company in cash amounts necessary to satisfy any
     applicable federal, state and local tax withholding
     requirements.  If additional withholding is or becomes
     required beyond any amount deposited before delivery of the
     certificates, the optionee shall pay such amount to the
     Company on demand.  If the optionee fails to pay the amount
     demanded, the Company may withhold that amount from other
     amounts payable by the Company to the optionee, including
     salary, subject to applicable law.  With the consent of the
     Board of Directors an optionee may satisfy this obligation,
     in whole or in part, by having the Company withhold from the
     shares to be issued upon the exercise that number of shares
     that would satisfy the withholding amount due or by
     delivering to the Company Common Stock to satisfy the
     withholding amount.  Upon the exercise of an option, the
     number of shares reserved for issuance under the Plan shall
     be reduced by the number of shares issued upon exercise of
     the option.

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          (b)  Incentive Stock Options.  Incentive Stock Options
shall be subject to the following additional terms and
conditions:

               (i)  Limitation on Amount of Grants.  No employee
     may be granted Incentive Stock Options under the Plan if the
     aggregate fair market value, on the date of grant, of the
     Common Stock with respect to which Incentive Stock Options
     are exercisable for the first time by that employee during
     any calendar year under the Plan and under all incentive
     stock option plans (within the meaning of Section 422 of the
     Code) of the Company or any parent or subsidiary of the
     Company exceeds $100,000.

               (ii)  Limitations on Grants to 10 Percent
     Shareholders.  An Incentive Stock Option may be granted
     under the Plan to an employee possessing more than
     10 percent of the total combined voting power of all classes
     of stock of the Company or of any parent or subsidiary of
     the Company only if the option price is at least 110 percent
     of the fair market value, as described in Section 6(b)(iv),
     of the Common Stock subject to the option on the date it is
     granted and the option by its terms is not exercisable after
     the expiration of five years from the date it is granted.

               (iii)  Duration of Options.  Subject to
     Sections 6(a)(ii) and 6(b)(ii), Incentive Stock Options
     granted under the Plan shall continue in effect for the
     period fixed by the Board of Directors, except that no
     Incentive Stock Option shall be exercisable after the
     expiration of 10 years from the date it is granted.

               (iv)  Option Price.  The option price per share
     shall be determined by the Board of Directors at the time of
     grant.  Except as provided in Section 6(b)(ii), the option
     price shall not be less than 100 percent of the fair market
     value of the Common Stock covered by the Incentive Stock
     Option at the date the option is granted.  The Board of
     Directors shall make a good faith determination of the fair
     market value.  If the Common Stock of the Company is not
     publicly traded on the date the option is granted, the Board
     of Directors may consider any valuation methods it deems
     appropriate and may, but is not required to, obtain one or
     more independent appraisals of the Company.  If the Common
     Stock of the Company is publicly traded on the date the
     option is exercised, the fair market value shall be deemed
     to be the closing price of the Common Stock as reported in
     The Wall Street Journal on the day preceding the date the
     option is granted, or, if there has been no sale on that
     date, on the last preceding date on which a sale occurred or
     such other value of the Common Stock as shall be specified
     by the Board of Directors.

               (v)  Limitation on Time of Grant.  No Incentive
     Stock Option shall be granted on or after the tenth
     anniversary of the date of the last action by the Board of
     Directors approving an increase in the number of shares
     available for issuance under the Plan, which action was
     subsequently approved within 12 months by the shareholders.

               (vi)  Conversion of Incentive Stock Options.  The
     Board of Directors may at any time without the consent of
     the optionee convert an Incentive Stock Option to a
     Non-Statutory Stock Option.

          (c)  Non-Statutory Stock Options.  Non-Statutory Stock
Options shall be subject to the following terms and conditions in
addition to those set forth in Section 6(a) above:

               (i)  Option Price.  The option price for
     Non-Statutory Stock Options shall be determined by the Board
     of Directors at the time of grant and may be any amount
     determined by the Board of Directors.

               (ii)  Duration of Options.  Non-Statutory Stock
     Options granted under the Plan shall continue in effect for
     the period fixed by the Board of Directors.

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     7.   Changes in Capital Structure.

          (a)  Stock Splits; Stock Dividends.  If the outstanding
Common Stock of the Company is hereafter increased or decreased
or changed into or exchanged for a different number or kind of
shares or other securities of the Company by reason of any stock
split, combination of shares or dividend payable in shares,
recapitalization or reclassification appropriate adjustment shall
be made by the Board of Directors in the number and kind of
shares available for grants under the Plan.  In addition, the
Board of Directors shall make appropriate adjustment in the
number and kind of shares as to which outstanding options, or
portions thereof then unexercised, shall be exercisable, so that
the optionee's proportionate interest before and after the
occurrence of the event is maintained.  Notwithstanding the
foregoing, the Board of Directors shall have no obligation to
effect any adjustment that would or might result in the issuance
of fractional shares, and any fractional shares resulting from
any adjustment may be disregarded or provided for in any manner
determined by the Board of Directors.  Any such adjustments made
by the Board of Directors shall be conclusive.

          (b)  Mergers, Reorganizations, Etc.  In the event of a
merger, consolidation, plan of exchange, acquisition of property
or stock, separation, reorganization or liquidation to which the
Company or a subsidiary is a party or a sale of all or
substantially all of the Company's assets (each, a
"Transaction"), the Board of Directors shall, in its sole
discretion and to the extent possible under the structure of the
Transaction, select one of the following alternatives for
treating outstanding options under the Plan:

               (i)  Outstanding options shall remain in effect in
     accordance with their terms.

               (ii)  Outstanding options ("old options") shall be
     converted into options ("new options") to purchase stock in
     the corporation that is the surviving or acquiring
     corporation in the Transaction.  The amount, type of
     securities subject thereto and exercise price of the old
     options shall be determined by the Board of Directors of the
     Company, taking into account the relative values of the
     companies involved in the Transaction and the exchange rate,
     if any, used in determining shares of the surviving
     corporation to be issued to holders of shares of the
     Company.  However, with respect to an incentive stock
     option, the excess of the fair market value of the stock
     subject to the option over the option price before the
     conversion shall equal or exceed such excess after the
     conversion, and the new option shall not give the holder
     additional benefits that were not available under the old
     option.  The Board of Directors shall make a good faith
     determination of the fair market value of the stock subject
     to the old option and the stock subject to the new option.
     Unless otherwise determined by the Board of Directors, the
     old options shall be vested only to the extent that the
     vesting requirements relating to options granted hereunder
     have been satisfied.

               (iii)  The Board of Directors shall provide a 30-
     day period prior to the consummation of the Transaction
     during which outstanding options may be exercised to the
     extent then exercisable, and upon the expiration of such 30-
     day period, all unexercised options shall immediately
     terminate.  The Board of Directors may, in its sole
     discretion, accelerate the exercisability of options so that
     they are exercisable in full during such 30-day period.

          (c)  Dissolution of the Company.  In the event of the
dissolution of the Company, options shall be treated in
accordance with Section 7(b)(iii).

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          (d)  Rights Issued by Another Corporation.  The Board
of Directors may also grant options under the Plan having terms,
conditions and provisions that vary from those specified in this
Plan provided that any such awards are granted in substitution
for, or in connection with the assumption of, existing options,
stock appreciation rights, stock bonuses, cash bonuses,
restricted stock and performance units granted, awarded or issued
by another corporation and assumed or otherwise agreed to be
provided for by the Company pursuant to or by reason of a
Transaction.

     8.   Amendment of Plan.  The Board of Directors may at any
time, and from time to time, modify or amend the Plan in such
respects as it shall deem advisable because of changes in the law
while the Plan is in effect or for any other reason.  Except as
provided in Sections 6(a)(iv) and 7, however, no change in an
award already granted shall be made without the written consent
of the holder of such award.

     9.   Approvals.  The obligations of the Company under the
Plan are subject to the approval of state and federal authorities
or agencies with jurisdiction in the matter.  The Company will
use its best efforts to take steps required by state or federal
law or applicable regulations, including rules and regulations of
the Securities and Exchange Commission and any stock exchange on
which the Company's shares may then be listed, in connection with
the grants under the Plan.  The foregoing notwithstanding, the
Company shall not be obligated to issue or deliver Common Stock
under the Plan if such issuance or delivery would violate
applicable state or federal securities laws.

     10.  Employment and Service Rights.  Nothing in the Plan or
any award pursuant to the Plan shall (i) confer upon any employee
any right to be continued in the employment of the Company or any
subsidiary or interfere in any way with the right of the Company
or any subsidiary by whom such employee is employed to terminate
such employee's employment at any time, for any reason, with or
without cause, or to decrease such employee's compensation or
benefits, or (ii) confer upon any person engaged by the Company
any right to be retained or employed by the Company or to the
continuation, extension, renewal, or modification of any
compensation, contract, or arrangement with or by the Company.

     11.  Rights as a Shareholder.  The recipient of any award
under the Plan shall have no rights as a shareholder with respect
to any Common Stock until the date of issue to the recipient of a
stock certificate for such shares.  Except as otherwise expressly
provided in the Plan, no adjustment shall be made for dividends
or other rights for which the record date occurs prior to the
date such stock certificate is issued.

     12.  Stock Bonuses.  The Board of Directors may award shares
under the Plan as stock bonuses.  Shares awarded as a bonus shall
be subject to the terms, conditions, and restrictions determined
by the Board of Directors.  The restrictions may include
restrictions concerning transferability and forfeiture of the
shares awarded, together with such other restrictions as may be
determined by the Board of Directors.  If shares are subject to
forfeiture, all dividends or other distributions paid by the
Company with respect to the shares shall be retained by the
Company until the shares are no longer subject to forfeiture, at
which time all accumulated amounts shall be paid to the
recipient.  The Board of Directors may require the recipient to
sign an agreement as a condition of the award, but may not
require the recipient to pay any monetary consideration other
than amounts necessary to satisfy tax withholding requirements.
The agreement may contain any terms, conditions, restrictions,
representations and warranties required by the Board of
Directors.  The certificates representing the shares awarded
shall bear any legends required by the Board of Directors.   The
Company may require any recipient of a stock bonus to pay to the
Company in cash upon demand amounts necessary to satisfy any
applicable federal, state or local tax withholding requirements.

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If the recipient fails to pay the amount demanded, the Company
may withhold that amount from other amounts payable by the
Company to the recipient, including salary or fees for services,
subject to applicable law.  With the consent of the Board of
Directors, a recipient may deliver Common Stock to the Company to
satisfy this withholding obligation.  Upon the issuance of a
stock bonus, the number of shares reserved for issuance under the
Plan shall be reduced by the number of shares issued.

     13.  Restricted Stock.  The Board of Directors may issue
shares under the Plan for such consideration (including
promissory notes and services) as determined by the Board of
Directors.  Shares issued under the Plan shall be subject to the
terms, conditions and restrictions determined by the Board of
Directors.  The restrictions may include restrictions concerning
transferability, repurchase by the Company and forfeiture of the
shares issued, together with such other restrictions as may be
determined by the Board of Directors.  If shares are subject to
forfeiture or repurchase by the Company, all dividends or other
distributions paid by the Company with respect to the shares
shall be retained by the Company until the shares are no longer
subject to forfeiture or repurchase, at which time all
accumulated amounts shall be paid to the recipient.  All Common
Stock issued pursuant to this paragraph 13 shall be subject to a
purchase agreement, which shall be executed by the Company and
the prospective recipient of the shares prior to the delivery of
certificates representing such shares to the recipient.  The
purchase agreement may contain any terms, conditions,
restrictions, representations and warranties required by the
Board of Directors.  The certificates representing the shares
shall bear any legends required by the Board of Directors.  The
Company may require any purchaser of restricted stock to pay to
the Company in cash upon demand amounts necessary to satisfy any
applicable federal, state or local tax withholding requirements.
If the purchaser fails to pay the amount demanded, the Company
may withhold that amount from other amounts payable by the
Company to the purchaser, including salary, subject to applicable
law.  With the consent of the Board of Directors, a purchaser may
deliver Common Stock to the Company to satisfy this withholding
obligation.  Upon the issuance of restricted stock, the number of
shares reserved for issuance under the Plan shall be reduced by
the number of shares issued.

     14.  Stock Appreciation Rights.

     a.     Grant.  Stock appreciation rights may be granted under the
          Plan by the Board of Directors, subject to such rules, terms,
          and conditions as the Board of Directors prescribes.

     b.     Exercise.

          i.     Generally.  Each stock appreciation right shall entitle
               the holder, upon exercise, to receive from the Company in
               exchange therefor an amount equal in value to the excess
               of the fair market value on the date of exercise of one
               share of Common Stock of the Company over its fair market
               value on the date of grant (or, in the case of a stock
               appreciation right granted in connection with an option,
               the excess of the fair market value of one share of Common
               Stock of the Company over the option price per share under
               the option to which the stock appreciation right relates),
               multiplied by the number of shares covered by the stock
               appreciation right or the option, or portion thereof, that
               is surrendered.  No stock appreciation right shall be
               exercisable at a time that the amount determined under
               this subparagraph is negative.  Payment by the Company
               upon exercise of a stock appreciation right may be made
               in Common Stock valued at fair market value, in cash, or
               partly in Common Stock and partly in cash, all as determined
               by the Board of Directors.

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         ii.     Time of Exerciseability.  A stock appreciation right
               shall be exercisable only at the time or times established
               by the Board of Directors.  If a stock appreciation right
               is granted in connection with an option, the following
               rules shall apply: (1) the stock appreciation right shall
               be exercisable only to the extent and on the same conditions
               that the related option could be exercised; (2) the stock
               appreciation rights shall be exercisable only when the fair
               market value of the stock exceeds the option price of the
               related option; (3) the stock appreciation right shall be
               for no more than 100 percent of the excess of the fair
               market value of the stock at the time of exercise over the
               option price; (4) upon exercise of the stock appreciation
               right, the option or portion thereof to which the stock
               appreciation right relates terminates; and (5) upon exercise
               of the option, the related stock appreciation right or
               portion thereof terminates.

        iii.     Termination.  The Board of Directors may withdraw any
               stock appreciation right granted under the Plan at any time
               and may impose any conditions upon the exercise of a stock
               appreciation right or adopt rules and regulations from time
               to time affecting the rights of holders of stock appreciation
               rights.  Such rules and regulations may govern the right to
               exercise stock appreciation rights granted prior to adoption
               or amendment of such rules and regulations as well as stock
               appreciation rights granted thereafter.

         iv.     Valuation.  For purposes of this paragraph 9, the fair
               market value of the Common Stock shall be determined as of
               the date the stock appreciation right is exercised, under
               the methods set forth in paragraph 6(b)(iv).

          v.     Fractional Shares.  No fractional shares shall be issued
               upon exercise of a stock appreciation right.  In lieu
               thereof, cash may be paid in an amount equal to the value
               of the fraction or, if the Board of Directors shall
               determine, the number of shares may be rounded downward
               to the next whole share.

         vi.     Nontrasferabilty.  Each stock appreciation right granted
               in connection with an Incentive Stock Option, and unless
               otherwise determined by the Board of Directors , each other
               stock appreciation right granted under the Plan by its
               terms shall be nonassignable and nontransferable by the
               holder, either voluntarily or by operation of law, except
               by will or by the laws of descent and distribution of the
               state or country of the holder's domicile at the time of
               death, and each stock appreciation right by its terms shall
               be exercisable during the holder's lifetime only by the
               holder.

        vii.     Taxes.  Each participant who has exercised a stock
               appreciation right shall, upon notification of the amount
               due, pay to the Company in cash amounts necessary to
               satisfy any applicable federal, state and local tax
               withholding requirements. If the participant fails to pay
               the amount demanded, the Company may withhold that amount
               from other amounts payable by the Company to the participant
               including salary, subject to applicable law.  With the
               consent of the Board of Directors a participant may satisfy
               this obligation, in whole or in part, by having the Company
               withhold from any shares to be issued upon the exercise that
               number of shares that would satisfy the withholding amount
               due or by delivering Common Stock to the Company to satisfy
               the withholding amount.

       viii.     Shares Available.  Upon the exercise of a stock
               appreciation right for shares, the number of shares reserved
               for issuance under the Plan shall be reduced by the number
               of shares issued.  Cash payments of stock appreciation
               rights shall not reduce the number of shares of Common Stock
               reserved for issuance under the Plan.

     Adopted:  August 11, 1997EMPLOYMENT AGREEMENT

	This Agreement executed as of the 6th of December 1999, by and between
Progressive Telecommunications Corporation (hereafter referred to as the
"Company"), a Florida Corporation with its offices located at 601 Cleveland
Street, Suite 930 Clearwater, Florida 33755 and  Michael H. Kogan
(hereafter referred to as the "Employee") located at 17 Granada Drive, Morris
Plains, New Jersey 07950.

					WITNESSETH

	Whereas, the Employee is currently the President of Penultimate
Management Systems Ltd., and is presently acting as a consultant to the Company
for the purpose of creating, designing and implementing the Companies plan to
build an Internet business to business portal, BusinessMall.Com;

	Whereas, the Company acknowledges and recognizes the value of the
Employee's services which are special, unique and of extraordinary character
with expertise desired by the Company; and

	Whereas, the Company desires to employ, retain and make secure for the
Company the services, abilities and expertise of the Employee on a full time
basis for a minimum period of two years from the effective date of this
Agreement; and

	Whereas, both the Company and the Employee desire to embody the terms
and conditions of employment into a written agreement;

	NOW THEREFORE, in consideration of the premises and for other good and
valuable consideration, the adequacy and receipt of which is hereby
acknowledged, the Company and the Employee do hereby agree as follows:

1.  	EMPLOYMENT

	The Company hereby agrees to employ the Employee and the Employee hereby
accepts such Employment upon the terms and conditions hereinafter set forth.

2.         TERM

	Subject to the provisions of this Section hereof the term of employment
shall commence on December 1, 1999 (Commence Date) and continue for an initial
period of two (2) years or until January 1, 2002.  Following completion of the
Initial Term, the Employee's term of employment shall be renewed, if not
renegotiated, for two year terms automatically, unless either party notifies the
other, in writing, of its intent not to renew at least ninety (90) days prior to
this Agreement's expiration.

3.	COMPENSATION AND BENEFITS

	For the services rendered by the Employee hereunder, the Company shall
be obligated to the Employee under the following compensation schedule:

3.1  Sign on Bonus

In consideration of prior agreements and in return for the Employees, concepts,
designs inventions and ideas conceived of prior to this agreement, becoming the
proprietary property of the Company, the Company will issue 100,000 shares of
common stock and 250,000 stock options @$2.50 per share to the Employee upon the
signing of this agreement.

The Corporation agrees that the shares of common stock of the Corporation
comprising the Signing Bonus shall be issued to the Employee as of the date of
the execution of this Agreements, and such shares of common stock of the
Corporation shall immediately be registered under S-8 as to make the securities
available to be traded on the OTC-BB, without limitation or restriction.

3.2  Fixed Compensation

	Employee shall receive a minimum in annual salary (detailed in schedule
3.2a) paid in BI-monthly or weekly installments.  This shall be considered the
minimum salary to the Employee.  The Company's Board of Directors may, at its
discretion, increase the salary but at no time or in any event shall the above
referenced salary be less than that detailed in schedule 3.2a.

	3.2a Compensation Schedule

	December 1, 1999 to February 28, 2000 ..........$8,333.33 per month
($100,000.00 annualized)
	March 1, 2000 to September 1, 2000............  $10,000.00 per month
($120,000.00 annualized)
	September 1, 2000 to January 1, 2002............ $11,666.67 per month
($140,000.00 annualized)

3.3  Other Benefits

	In addition to the above reference fixed and incentive compensation
which the Employee shall receive, pursuant to subsections 3.1,3.2 and 3.2a of
Section 3, the Employee shall receive the reimbursements, compensation and
benefits:

a) Travel and Virtual Office.	The Company acknowledges that the Employee
currently lives in New Jersey.  The Employee will  work virtually from his home
in New Jersey and travel to the Companies offices in Florida as required. The
Company will pay for all travel related expenses as well as provide
accommodations and transportation in Florida.  The Company will pay for all
communication costs associated with the Employee working from his home office.

b) The Employee recognizes the need to travel not only to Florida, but also to
any other place deemed necessary by the Company for the purpose of promoting  or
facilitating the Companies business.  The Company recognizes the Employees
requirement to be home for the weekend and will schedule all travel accordingly.

c) Moving Expenses: In order to facilitate a move of the Employees family to
Florida the Company will pay all closing costs associated with the purchase of a
new home in Florida, not to exceed $7,500.  In addition, the Company will pay
all expenses associated with the moving of all of the Employees and  his
families personal property.

d) Expenses: Employee is authorized hereunder to incur reasonable expenses for
promoting the business and affairs of the Company, including, without limitation
by specification, expenses for travel, entertainment, lodging and other similar
items.  The Company shall promptly reimburse the Employee for all such expenses
upon presentation, as expenses are incurred, by the Employee to the Company of
an itemized account of such expenditures.

e) The Company shall maintain either a whole-life life insurance policy or
policies or a minimum deposit life insurance policy or policies (or the
equivalent thereof) on the life of Employee having an aggregate face value of
not less than $100,000.00 (collectively, the "Policy").   In the event that the
Company purchases minimum deposit life insurance and this Agreement is
terminated with or without cause as defined herein prior to the time that the
insurance policy has been fully paid, the Company agrees to continue to make the
premium payments on the policy until it is fully paid.  The proceeds of the
policy shall be fully payable to any beneficiary or beneficiaries  designated at
any time and from time to time by the Employee, provided however, that upon
death of the Employee, the aggregate amount of premiums paid on the Policy by
the Company is repaid to the Company by the beneficiary(s) of the Employee
designated in the Policy.  Employee, if requested by the Company, shall take all
necessary steps, including if requested, the naming of the Company as a
Co-Beneficiary of the Policy to the extent of the total amount of the premiums
paid thereon, in order to insure Employee's compliance with this covenant.  In
no event shall premiums on any policy or policies aggregate more than $10,000.00
per year.  The policy shall be in addition to any key man policy or group term
policy or policies insuring the life of the Employee maintained by the Company
for the benefit of the Company.

f) Automobile.	The Company shall provide Employee with an automobile compatible
with his position and responsibility hereunder or, in lieu thereof, at the
option of the Employee, a monthly stipend equal to the cost of leasing and
insuring such an automobile.  The Company's monthly obligation under this
paragraph shall not exceed $ 400.00  per month excluding gas and maintenance.

g) Medical Benefits.  The Company shall provide and pay for in its entirety the
Employee with such family health and medical benefits as the Company accords its
Executive officers

h) Vacations.   Employee shall be entitled during each calendar year, during the
period of employment, to four weeks vacation beginning during the first year of
Employment and every year thereafter.  The vacation entitlement is cumulative or
may be compensated in a monetary manner.  The Employee is entitled to
compensation during such vacation periods.

i) Sick Time.   Employee is entitled, if needed, 10 fully compensated sick per
calendar year.

j) Working Facilities.    The Company shall furnish Employee with a private
office, secretarial help and other facilities, services and staff as are
suitable to his position to ensure adequate performance of the duties of the
position the Employee holds in the Company.

3.4 The Company agrees that nothing contained in this Agreement is intended to
or shall be deemed to be granted to the Employee in lieu of, or as a limitation
upon, any rights and privileges which the Employee may otherwise be entitled to
as an executive employee of the Company under any retirement, pension,
insurance, hospitalization or other employee benefit plan of any type
(including, without limitation by specification, any incentive, profit sharing,
bonus or stock option plan), which may now be in effect or which may hereafter
be adopted by the Company, it being understood that the Employee shall have the
same rights and privileges to participate in such Company benefit plans as any
other executive employee of the Company.

4. Duties, Time And Effort.

4.1  During the term of Employment hereunder, Employee, subject to the
supervision and control of the Board of Directors of the Company which shall
supervise all aspects of the Company.  Employee shall serve the Company as the
Director of Operations of BusinessMall.Com a wholly owned subsidiary of the
Company. The Company and Employee agree that Employee shall serve in this
capacity throughout the period of employment as outlined herein.

4.2  Employee agrees to devote full-time attention and effort to the business of
the Company during the term of employment hereunder. The Employee shall perform
his duties faithfully, diligently and to the best of his ability.  Employee, at
all times, shall use his best efforts to preserve, protect, enhance and maintain
the trade, business and goodwill of the Company.

5.  Covenants and Restrictions.

	Subject to the provisions 8.6 hereof, Employee covenants that, except in
carrying out his duties hereunder, during the term of employment and for a
period of one (1) year following the date of termination of employment
hereunder:

5.1  Without express written consent of the Board of Directors, Employee shall
not directly or indirectly, participate or engage in, assist render employment
services to, become associated with, work for, or otherwise become in any way or
manner connected with the ownership, management, operation, or control of, any
business, which would take from the assets or products or confidential and
proprietary information of the Company.   This clause in no way is to be
construed as industry ban but rather as a ban from utilizing contacts, products
developed, procedures and other confidential information.

5.2  Employee shall not knowingly provide or solicit to provide to any person or
individual (I) any goods or services which are competitive with those provided
by the Company or which would be competitive with the goods and services that
the Company has planned to provide;  or (ii) any goods or services to any
customer of the Company.  The term "Customer" shall mean any person or company
to whom the Company has provided goods or services to within the previous twelve
(12) month period prior to termination of Employee's employment hereunder.
Notwithstanding anything herein to the contrary, no limitation shall be imposed
on Employee hereunder with respect to any goods or services that the Company has
planned to provide and which are not actually being provided at the time of the
termination of Employee's employment.

5.3  Employee agrees that he shall not divulge to others, nor shall he use to
the detriment of the Company or in any business or process of manufacture
competitive with or similar to any business or process of manufacture engaged in
by the Company or any of its subsidiaries or affiliated companies, at any time
during employment with the Company or thereafter, any confidential or trade
secret information obtained during the course of employment with the Company
relating to sales, salesman, sales volume or strategy, customers, formulas,
processes, methods, machines, manufactures, compositions, ideas, improvements or
inventions belonging to or relating to the business of the Company, or its
subsidiary or affiliated companies.

5.4  Employee shall neither solicit, seek to solicit any of the Company's
personnel in any capacity whatsoever nor shall Employee induce or attempt to
induce any of the Company's personnel to the employ of the Company to work for
Employee or otherwise.

5.5  Employee acknowledges that a breach of any of the restrictive covenants
contained in Section 5 may cause irreparable damage to the Company for which
remedies at law would be inadequate.  Accordingly, if Employee breaches or
threatens to breach any of the provisions of this Section 5, the Company shall
be entitled to appropriate injunctive relief, including without limitation,
preliminary and permanent injunctions in any court of competent jurisdiction,
restraining Employee from taking any action prohibited hereby.  This remedy
shall be in addition to all other remedies available to the Company at law or
equity.  If any portion of this Section 5 is adjudicated to be invalid or
unenforceable, this Section 5 shall be deemed amended to delete there from the
portion so adjudicated, such deletion to apply only with respect to the
operation of this Section 5 in the jurisdiction in which such adjudication is
made.

6.  Proprietary Property.

	Subject to the provisions of Section 8.6 hereof:

6.1  The Employee agrees that any and all inventions or improvements as well as
any and all ideas, creations, know-how and methods of applying and putting into
practice any inventions or improvements (all of the foregoing being hereinafter
called "Proprietary Property" and being more fully defined in subsection 6.2
below) that are created, developed, conceived of or discovered either (I) by the
Employee (solely or jointly with others) in the course of employment, on Company
time, with Company materials or facilities; or (ii)  by and for the Company; or
(iii) by any independent individual of business acquired by the Company.   The
Employee shall not, without limitation as to time or place, use any Proprietary
Property except on Company business, during or after his period of employment
(in accordance with Section 5), nor disclose the same to any other person or
individual except for disclosure on Company business or as may be required by
law.

6.2  As used in this Agreement "Proprietary Property" means proprietary
technical information not known by the Employee prior to employment or
information not generally known in the Company's industry and which is disclosed
to Employee or known or developed by Employee as a consequence of or through
employment with the Company.

6.3  During or subsequent (in accordance with Section 5) to the Employee's
employment by the Company, Employee shall not, directly or indirectly, lecture
upon, publish articles concerning, use, disseminate, disclose, sell or offer for
sale any Proprietary Property without the Company's prior written consent.

7.	Disability.

7.1  Subject to the terms of Section 7.1, in the event Employee becomes
temporarily disabled during the term of this Agreement, Employee shall continue
to receive one-hundred percent (100%) of the fixed compensation to which
Employee was entitled at the time of disability for a maximum period of six (6)
months.   Beginning on the seventh month of disability by Employee the fixed
compensation shall be reduced to fifty percent (50%) and be available for six
(6) more calendar months.  The terms "disabled" and "disability" shall mean
disability which, in the opinion of a doctor reasonably satisfactory to the
Company, renders the Employee unable to perform his duties hereunder.  The date
such disability commences shall be the date Employee first absents from work
during a continuous period of disability as so determined by the doctor herein
above set forth.  The term "temporary disability" shall mean a disability which
is not a permanent disability as defined in Section 7.2 below.

7.2  Notwithstanding anything to the contrary set forth in this Agreement, the
Company may terminate this Agreement upon no less than ninety (90) days prior
written notice to Employee after six (6) full continuous calendar months
following "permanent disability" (as defined below) of Employee and the payment
to Employee of all unpaid accrued compensation which the Company owes to the
Employee for the period of employment prior to termination.  In such event, the
Employee shall be entitled to receive from the Company or from the Company's
disability insurance carrier disability compensation in an amount which, when
added to all social security benefits received or to be received by Employee as
a result of the permanent disability, equal to One-Hundred Thousand
($100,000.00) per annum; provided, however, in no event shall the premiums paid
by the Company for maintaining the disability policy (as such term is defined
below) exceed fifteen thousand ($15,000.00) dollars per annum.  The Employee's
entitlement to disability benefits shall be pursuant to the terms of this
Agreement and the disability insurance policy  (the "Disability Policy") to be
obtained and maintained by the Company, naming the Employee as the insured
thereunder.  Notwithstanding the foregoing, in the event Employee's disability
is either not covered under the Disability Policy or Employee is covered for
less than One-Hundred ($100,000.00) Thousand dollars per annum or if coverage
under the Disability Policy terminates during the Period of disability for any
reason whatsoever, then for the balance of Employee's then current term of
employment the Company will pay Employee One-Hundred ($100,000.00) Thousand
dollars per annum or, if Employee is receiving benefits under the Disability
Policy, the Company will supplement the insurance payments which Employee is
entitled to receive so that Employee receives a total of One-Hundred Thousand
($100,000.00) dollars per annum and, thereafter, the Company will pay to
Employee, or supplement the benefits Employee receives under said Disability
Policy, so that Employee receives the lesser of (I) One-Hundred Thousand
($100,000.00) dollars per annum; or (ii) fifty (50%) percent of Employee's Fixed
Compensation until Employee attains the age of sixty-five (65).  Once the
Employee attains the age of sixty-five (65), the Company shall have no further
obligations to make disability payments to Employee or to otherwise supplement
the amounts Employee receives under the Disability Policy except to the extent
that it is the Company's then current policy to continue to cover or provide
benefits to permanently disabled executive officers beyond the age sixty-five
(65).  Notwithstanding anything to the contrary set forth in this Section 7.2,
in the event the Employee reassumes the full Performance of his duties hereunder
prior to such termination notice, the Employee shall be entitled to one-hundred
(100%) percent of the total compensation from the date of the Employee's
return. In no event shall Employee be entitled to renew the term of the
Employment for the Extension Terms or any Annual Term if the Employee becomes
permanently disabled during either the Initial Term or Extension Term.
Employee shall be deemed "Permanently Disabled" for purposes hereof if
either:  (I) Employee has been temporarily disabled for a period in excess of
730 consecutive days; or (ii) the insurance company issuing the Disability
Policy determines that the Employee is permanently Disabled and will make
payments pursuant to the Disability Policy; or (iii) a physician, mutually
acceptable to both the Company and the Employee, determines on the basis of
medical evidence that the Employee is totally disabled, mentally or
physically, so as to be , prevented from engaging in further employment by
the Company in the capacity in which Employee was engaged prior to such
disability and that such disability will be permanent and continuous during
the remainder of the life of Employee. In the event a physician cannot be
selected who is acceptable to both the Company and the Employee, each party
shall select a physician who shall select a third physician whose decision
shall be final.  In the event of a dispute or the inability of the physicians
selected by the Company and the Employee to select a third physician, a
physician shall be selected by the American Arbitration Association and the
decision of such physician shall be final.

7.3  Payments of disability compensation under Sub-Sections 7.1 and 7.2 above
shall be reduced by the amounts actually received by the Employee under any
policy or policies of disability, health, accident or wage continuation
insurance paid for by the Company.

8.  Termination; Severance; Death.

8.1  The Employee's employment shall terminate upon death, and may be
terminated, at the option of (I) the Employee, (a) upon the conclusion of the
Initial Term, or any Annual Term upon proper notice to the Company, or (b) for
documented breach of this Agreement, or  (ii) the Company upon proper written
notice to the Employee, (a) at the conclusion of the Initial Term or any Annual
Term, (b) as a result of permanent disability as defined in Section 7.2 hereof,
or (C ) for cause.  Termination "for cause" shall mean termination only in the
event the Employee is guilty in a court of competent jurisdiction with respect
to Section 5, (I) intentional failure to perform duties hereunder, (ii)  any act
of intentional dishonesty which has material adverse effect to the Company's
business.

8.2  If Employee's employment is terminated by the Company for documented cause,
as referenced in Section 8.1C.

8.3  If Employee's employment is terminated by the Employment decision to act as
a consultant to the Company or as a result of the Employee's permanent
disability, the Company shall remain obligated to pay Employee the entitlements
set forth in Section 7 of this Agreement.

8.4  If Employee's employment is terminated by the Company's determination not
to renew the employment term at the conclusion of either the Initial Term or any
Annual Term, THE Company shall be obligated to pay Employee, within sixty (60)
days of such termination, a lump sum severance payment in an amount equal to
Fifty Thousand ($50,000.00) Dollars.

8.5  If Employee's employment is terminated by the Company, without cause,
during the Initial Term or any Annual Term, the Company shall be obligated to
pay Employee, within sixty (60) days of such termination, a lump sum severance
payment in an amount equal to Fifty Thousand ($50,000.00) Dollars.

8.6  If the Employee is terminated by the Company  "for cause", the Company
shall have no further obligation to pay compensation or benefits to Employee,
other than those accrued through the date of such termination. Termination "for
cause" shall mean termination only in the event the Employee is guilty of (i)
intentional or reckless failure to perform his duties hereunder, or (ii) any act
of intentional dishonesty by the Employee which adversely effects the Company's
business or reputation.

8.7  If the Employee dies during the term of the employment hereunder, the
Company shall promptly pay to the Employee's estate or promptly distribute to
the beneficiary or beneficiaries named by the Employee all life insurance
proceeds under the Policy referred to in Section 3.3(b) hereof (if received by
the Company for any reason) as well as any term life insurance policy or
policies with the exception of any key-man policy which the Company maintained
on the life of and for the benefit of the Employee; provided, however, all other
Company fringe benefits shall cease upon Employee's death.

8.8  Notwithstanding anything to the contrary set forth in this Agreement, the
Employee's covenants set forth in Sections 5 and 6 hereof shall not apply with
respect to and shall not be enforceable against the Employee, in the event the
Employee's employment is terminated by the Company for any reason other than
those reasons expressly set forth in Section 8.1 hereof.

9.  Arbitration

	Any dispute, controversy or claim arising out of or pursuant to this
Agreement or the breach hereof shall be settled by arbitration in the City of
Clearwater, County of Pinellas and State of Florida.  Such arbitration shall be
effected by arbitrators selected as hereinafter provided and shall be conducted
in accordance with the Rules, existing at the date thereof, of the American
Arbitration Association.  The dispute, controversy or claim shall be submitted
to three arbitrators, one arbitrator to be selected by the Company, one
arbitrator to be selected by the Employee and the third arbitrator to be
selected by the two so selected by the Company and Employee, or if they cannot
agree on a third, by the American Arbitration Association.  In the event that
either the Company or Employee within one (1) month after notification of any
demand for arbitration hereunder, shall not have selected its arbitrator and
given notice thereof to the other party,  the arbitrator for such party shall be
selected by the American Arbitration Association.  Meetings of the arbitrators
shall be held in Clearwater, Florida at such place or places as may be agreed
upon by the arbitrators.  The results of final determination of any such
arbitration proceedings shall be binding on the parties hereto and a judgment
may be entered in any court having jurisdiction.

10.  Severability Of Provisions

	In the event any court of competent jurisdiction determines that any
term or provision of this Agreement shall be unenforceable, the invalidity of
such term or provision shall not affect the validity of the remainder hereof.

11.  Notices

	Any notice required or permitted to be given pursuant to the provisions
hereof shall be deemed given when sent by registered or certified mail, return
receipt requested, to the Company or Employee at their respective addresses set
forth above or to such other address as may be given by similar notice by the
Company or Employee.

12.  Waiver Of Breach

	The waiver by the Company or Employee of a breach of any provision
hereof by the other shall not operate or be construed to operate as a waiver by
such party of any subsequent breach by the other of the same or any other
provision hereof.

13.	Entire Agreement, Modification and Construction.

	This Agreement contains the entire understanding between the Company and
Employee with respect to the subject matter hereof.  The terms and conditions
hereof may be changed only by agreement in writing signed by the Company and the
Employee.  This Agreement shall be governed by and construed with the laws of
the State of Florida, applicable to contracts made and to be performed therein,
without giving effect to the principles thereof relating to conflicts of law.

IN WITNESS WHEREOF, the Company has caused this Agreement to be signed and its
seal affixed by a duly authorized officer and the Employee has signed this
Agreement as the day and year first written above.

Progressive Telecommunications Corporation:		Employee:

/s/ Dr. Howard Tackett	               				/s/ Michael H. Kogan
Authorized Corporate Signature			         	Employee Signature

Dr. Howard Tackett
Vice President		        	                  			Michael H. Kogan
Print Name & Title				                          	Print Name

12-10-99	                                    					12-9-99
Date						                                        	Date

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