Document:

EXHIBIT 4.1

                          H.J. HEINZ FINANCE COMPANY,
                                                      As Issuer

                                      AND

                              H.J. HEINZ COMPANY,
                                                      As Guarantor

                                       TO

                        BANK ONE, NATIONAL ASSOCIATION,
                                                      As Trustee

                                 --------------

                                   Indenture

                            Dated as of July 6, 2001

                                 --------------

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                               TABLE OF CONTENTS

                                                                           PAGE
                                                                           ----
PARTIES.....................................................................  1
RECITALS OF THE COMPANY.....................................................  1

                                  ARTICLE ONE
            DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION

SECTION 101.       Definitions:.............................................  1
                   Act......................................................  2
                   Affiliate................................................  2
                   Agent Member.............................................  2
                   Applicable Procedures....................................  2
                   Authenticating Agent.....................................  2
                   Board of Directors.......................................  2
                   Board Resolution.........................................  2
                   Business Day.............................................  2
                   Capital Stock............................................. 2
                   Clearstream............................................... 2
                   Commission...............................................  2
                   Company..................................................  3
                   Company Request; Company Order...........................  3
                   Comparable Treasury Issue................................  3
                   Comparable Treasury Price................................  3
                   Consolidated Net Assets..................................  3
                   Corporate Trust Office...................................  3
                   Corporation..............................................  3
                   Covenant Defeasance......................................  3
                   Defaulted Interest.......................................  3
                   Depositary...............................................  3
                   DTC......................................................  3
                   Euroclear................................................  3
                   Event of Default.........................................  3
                   Exchange Act.............................................  3
                   Exchange Offer...........................................  3
                   Exchange Registration Statement..........................  4
                   Exchange Security........................................  4
                   Expiration Date..........................................  4
                   Global Security..........................................  4
                   Guarantee................................................  4
                   guarantee................................................  4
                   Guarantor................................................  4
                   Holder...................................................  4

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                   Indenture................................................  4
                   Interest Payment Date....................................  4
                   Investment Company Act...................................  4
                   Maturity.................................................  5
                   Notice of Default........................................  5
                   Officer's Certificate....................................  5
                   Opinion of Counsel.......................................  5
                   Original Security........................................  5
                   Outstanding..............................................  5
                   Paying Agent.............................................  6
                   Person...................................................  6
                   Place of Payment.........................................  6
                   Predecessor Security.....................................  6
                   Principal Property.......................................  6
                   Purchasers...............................................  6
                   QIB......................................................  6
                   Redemption Date..........................................  7
                   Redemption Price.........................................  7
                   Reference Treasury Dealer................................  7
                   Reference Treasury Dealer Quotation......................  7
                   Registered Securities....................................  7
                   Registration Default.....................................  7
                   Registration Rights Agreement............................  7
                   Regular Record Date......................................  7
                   Regulation S.............................................  7
                   Regulation S Certificate.................................  7
                   Regulation S Global Security.............................  7
                   Regulation S Legend......................................  7
                   Regulation S Securities..................................  7
                   Remaining Scheduled Payments.............................  7
                   Resale Registration Statement............................  7
                   Restricted Global Security...............................  7
                   Restricted Period........................................  7
                   Restricted Securities....................................  8
                   Restricted Securities Certificate........................  8
                   Restricted Securities Legend.............................  8
                   Restricted Subsidiary....................................  8
                   Rule 144A................................................  8
                   Rule 144A Securities.....................................  8
                   Securities...............................................  8
                   Securities Act...........................................  8
                   Securities Act Legend....................................  8
                   Security Register and Security Registrar.................  8
                   Special Interest.........................................  8
                   Special Record Date......................................  8
                   Stated Maturity..........................................  8
                   Subsidiary...............................................  8
                   Treasury Rate............................................  9

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                   Trust Indenture Act......................................  9
                   Trustee..................................................  9
                   Unrestricted Global Security.............................  9
                   Unrestricted Securities..................................  9
                   Vice President...........................................  9
                   Voting Stock.............................................  9
SECTION 102.       Compliance Certificates and Opinions.....................  9
SECTION 103.       Form of Documents Delivered to Trustee................... 10
SECTION 104.       Acts of Holders; Record Dates............................ 10
SECTION 105.       Notices, Etc., to Trustee, Company and Guarantor......... 12
SECTION 106.       Notice to Holders; Waiver................................ 12
SECTION 107.       Conflict with Trust Indenture Act........................ 13
SECTION 108.       Effect of Headings and Table of Contents................. 13
SECTION 109.       Successors and Assigns................................... 13
SECTION 110.       Separability Clause...................................... 13
SECTION 111.       Benefits of Indenture.................................... 13
SECTION 112.       Governing Law............................................ 13
SECTION 113.       Legal Holidays........................................... 13

                                  ARTICLE TWO
                                 SECURITY FORMS

SECTION 201.       Forms Generally.......................................... 14
SECTION 202.       Form of Face of Security................................. 15
SECTION 203.       Form of Reverse of Security.............................. 20
SECTION 204.       Form of Legend for Securities............................ 25
SECTION 205.       Form of Trustee's Certificate of Authentication.......... 26
SECTION 206.       Form of Guarantee........................................ 26

                                 ARTICLE THREE
                                 THE SECURITIES

SECTION 301.       Amount Unlimited; Issuable in Series..................... 29
SECTION 302.       Denominations............................................ 31
SECTION 303.       Execution, Authentication, Delivery and Dating........... 31
SECTION 304.       Temporary Securities..................................... 33
SECTION 305.       Registration, Registration of Transfer and Exchange;
                           Certain Transfers and Exchanges.................. 33
SECTION 306.       Mutilated, Destroyed, Lost and Stolen Securities......... 37
SECTION 307.       Payment of Interest; Interest Rights Preserved........... 38
SECTION 308.       Persons Deemed Owners.................................... 39
SECTION 309.       Cancellation............................................. 39
SECTION 310.       Computation of Interest.................................. 39

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                                  ARTICLE FOUR
                           SATISFACTION AND DISCHARGE

SECTION 401.       Satisfaction and Discharge of Indenture.................. 39
SECTION 402.       Application of Trust Money............................... 40

                                  ARTICLE FIVE
                                    REMEDIES

SECTION 501.       Events of Default........................................ 41
SECTION 502.       Acceleration of Maturity; Rescission and Annulment....... 42
SECTION 503.       Collection of Indebtedness and Suits for
                          Enforcement by Trustee............................ 43
SECTION 504.       Trustee May File Proofs of Claim......................... 43
SECTION 505.       Trustee May Enforce Claims Without Possession
                          of Securities..................................... 44
SECTION 506.       Application of Money Collected........................... 44
SECTION 507.       Limitation on Suits...................................... 44
SECTION 508.       Unconditional Right of Holders to Receive Principal,
                          Premium and Interest.............................. 45
SECTION 509.       Restoration of Rights and Remedies....................... 45
SECTION 510.       Rights and Remedies Cumulative........................... 45
SECTION 511.       Delay or Omission Not Waiver............................. 46
SECTION 512.       Control by Holders....................................... 46
SECTION 513.       Waiver of Past Defaults.................................. 46
SECTION 514.       Undertaking for Costs.................................... 46
SECTION 515.       Waiver of Usury, Stay or Extension Laws.................. 47

                                  ARTICLE SIX
                                  THE TRUSTEE

SECTION 601.       Certain Duties and Responsibilities...................... 48
SECTION 602.       Notice of Defaults....................................... 48
SECTION 603.       Certain Rights of Trustee................................ 48
SECTION 604.       Not Responsible for Recitals or Issuance of Securities... 49
SECTION 605.       May Hold Securities...................................... 49
SECTION 606.       Money Held in Trust...................................... 49
SECTION 607.       Compensation and Reimbursement........................... 50
SECTION 608.       Conflicting Interests.................................... 50
SECTION 609.       Corporate Trustee Required; Eligibility.................. 50
SECTION 610.       Resignation and Removal; Appointment of Successor........ 51
SECTION 611.       Acceptance of Appointment by Successor................... 52
SECTION 612.       Merger, Conversion, Consolidation or Succession
                          to Business....................................... 53

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SECTION 613.       Preferential Collection of Claims Against Company........ 53
SECTION 614.       Appointment of Authenticating Agent...................... 53

                                 ARTICLE SEVEN
               HOLDERS' LISTS AND REPORTS BY TRUSTEE AND COMPANY

SECTION 701.       Company to Furnish Trustee Names and Addresses
                          of Holders........................................ 55
SECTION 702.       Preservation of Information; Communications
                          to Holders........................................ 55
SECTION 703.       Reports by Trustee....................................... 56
SECTION 704.       Reports by Company and Guarantor......................... 56

                                 ARTICLE EIGHT
              CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE

SECTION 801.       Company or Guarantor May Consolidate, Etc., Only on
                          Certain Terms..................................... 56
SECTION 802.       Successor Substituted.................................... 57

                                  ARTICLE NINE
                            SUPPLEMENTAL INDENTURES

SECTION 901.       Supplemental Indentures Without Consent of Holders....... 57
SECTION 902.       Supplemental Indentures with Consent of Holders.......... 58
SECTION 903.       Execution of Supplemental Indentures..................... 59
SECTION 904.       Effect of Supplemental Indentures........................ 59
SECTION 905.       Reference in Securities to Supplemental Indentures....... 60

                                  ARTICLE TEN
                                   COVENANTS

SECTION 1001.      Payment of Principal, Premium and Interest............... 60
SECTION 1002.      Maintenance of Office or Agency.......................... 60
SECTION 1003.      Money for Securities Payments to Be Held in Trust........ 60
SECTION 1004.      Restrictions on Secured Debt............................. 61
SECTION 1005.      Statement by Officer as to Default....................... 63
SECTION 1006.      Existence................................................ 63
SECTION 1007.      Maintenance of Properties................................ 63

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SECTION 1008.      Payment of Taxes and Other Claims........................ 64
SECTION 1009.      Waiver of Certain Covenants.............................. 64
SECTION 1010.      Registration Rights...................................... 64

                                 ARTICLE ELEVEN
                            REDEMPTION OF SECURITIES

SECTION 1101.      Applicability of Article................................. 64
SECTION 1102.      Election to Redeem; Notice to Trustee.................... 64
SECTION 1103.      Selection by Trustee of Securities to Be Redeemed........ 65
SECTION 1104.      Notice of Redemption..................................... 65
SECTION 1105.      Deposit of Redemption Price.............................. 66
SECTION 1106.      Securities Payable on Redemption Date.................... 66
SECTION 1107.      Securities Redeemed in Part.............................. 67

                                 ARTICLE TWELVE
                                 SINKING FUNDS

SECTION 1201.      Applicability of Article................................. 67
SECTION 1202.      Satisfaction of Sinking Fund Payments with Securities.... 67
SECTION 1203.      Redemption of Securities for Sinking Fund................ 67

                                ARTICLE THIRTEEN
                          GUARANTEE OF THE SECURITIES

SECTION 1301.      Guarantee................................................ 68
SECTION 1302.      Execution and Delivery of Guarantee...................... 69
SECTION 1303.      Obligations of the Guarantor Unconditional............... 69
SECTION 1304.      Waivers.................................................. 71
SECTION 1305.      Waiver of Subrogation and Contribution................... 72
SECTION 1306.      Certain Agreements....................................... 72
SECTION 1307.      No Waiver; Cumulative Remedies........................... 73
SECTION 1308.      Continuing Guarantee..................................... 73

                                ARTICLE FOURTEEN
                       DEFEASANCE AND COVENANT DEFEASANCE

SECTION 1401.      Company's Option to Effect Defeasance or Covenant
                   Defeasance............................................... 74
SECTION 1402.      Defeasance and Discharge................................. 74
SECTION 1403.      Covenant Defeasance...................................... 74
SECTION 1404.      Conditions to Defeasance or Covenant Defeasance.......... 75

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SECTION 1405.      Deposited Money and U.S. Government Obligations
                   to Be Held in Trust; Miscellaneous Provisions............ 76
SECTION 1406.      Reinstatement............................................ 77

TESTIMONIUM................................................................. 78
SIGNATURES AND SEALS........................................................ 79
ACKNOWLEDGEMENTS............................................................ 79

Annex  A  -  Form of Regulation S Certificate ..............................A-1
Annex  B  -  Form of Restricted Securities Certificate......................B-1
Annex  C  -  Form of Unrestricted Securities Certificate ...................C-1

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<PAGE>

         INDENTURE, dated as of July 6, 2001 among H.J. Heinz Finance Company,
a corporation duly organized under the laws of the State of Delaware (herein
called the "Company"), H. J. Heinz Company, a corporation duly organized and
existing under the laws of the Commonwealth of Pennsylvania (herein called the
"Guarantor"), and Bank One, National Association, a national banking
association duly organized and existing under the laws of the United States, as
Trustee (herein called the "Trustee").

                            Recitals of the Company

         The Company has duly authorized the execution and delivery of this
Indenture to provide for the issuance from time to time of its unsecured
debentures, notes or other evidences of indebtedness (herein called the
"Securities"), to be issued in one or more series as in this Indenture
provided.

         The Guarantor desires to guarantee irrevocably and unconditionally the
payment of the principal of, premium, if any, and any interest on, and any
other amount due under, this Indenture and the Securities, as the same shall
become due in accordance with the terms of this Indenture and the Securities
pursuant to the Guarantee provided in this Indenture and endorsed on the
Securities, and to provide therefore has duly authorized the execution and
delivery of the Guarantee and this Indenture.

         All things necessary to make this Indenture a valid agreement of the
Company, in accordance with its terms, have been done.

Now, Therefore, This Indenture Witnesseth:

         For and in consideration of the premises and the purchase of the
Securities by the Holders thereof, it is mutually agreed, for the equal and
proportionate benefit of all Holders of the Securities or of a series thereof,
as follows:

                                  ARTICLE ONE

                        DEFINITIONS AND OTHER PROVISIONS
                             OF GENERAL APPLICATION

SECTION 101. Definitions.

         For all purposes of this Indenture, except as otherwise expressly
provided or unless the context otherwise requires:

         (1) the terms defined in this Article have the meanings assigned to
         them in this Article and include the plural as well as the singular;

         (2) all other terms used herein which are defined in the Trust
         Indenture Act, either directly or by reference therein, have the
         meanings assigned to them therein;

         (3) all accounting terms not otherwise defined herein have the
         meanings assigned to them in accordance with generally accepted
         accounting principles;

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         (4) unless the context otherwise requires, any reference to an

         "Article" or a "Section" refers to an Article or a Section, as the
         case may be, of this Indenture; and

         (5) the words "herein", "hereof" and "hereunder" and other words of
         similar import refer to this Indenture as a whole and not to any
         particular Article, Section or other subdivision.

         "Act", when used with respect to any Holder, has the meaning specified
in Section 104.

         "Affiliate" of any specified Person means any other Person directly or
indirectly controlling or controlled by or under direct or indirect common
control with such specified Person. For the purposes of this definition,
"control" when used with respect to any specified Person means the power to
direct the management and policies of such Person, directly or indirectly,
whether through the ownership of voting securities, by contract or otherwise;
and the terms "controlling" and "controlled" have meanings correlative to the
foregoing.

         "Agent Member" means any member of, or participant in, the Depositary.

         "Applicable Procedures" means, with respect to any transfer or
transaction involving a Global Security or beneficial interest therein, the
rules and procedures of Euroclear, Clearstream and the Depositary for such
Security, in each case to the extent applicable to such transaction and as in
effect from time to time.

         "Authenticating Agent" means any Person authorized by the Trustee
pursuant to Section 614 to act on behalf of the Trustee to authenticate
Securities of one or more series.

         "Board of Directors" means either the board of directors of the
Company or the Guarantor or any duly authorized committee of that board.

         "Board Resolution" means a copy of a resolution certified by the
Secretary or an Assistant Secretary of the Company or the Guarantor to have
been duly adopted by the Board of Directors and to be in full force and effect
on the date of such certification, and delivered to the Trustee.

         "Business Day", when used with respect to any Place of Payment, means
each Monday, Tuesday, Wednesday, Thursday and Friday which is not a day on
which banking institutions in that Place of Payment are authorized or obligated
by law or executive order to close.

         "Capital Stock", as applied to the stock of any corporation, means the
capital stock of every class whether now or hereafter authorized, regardless of
whether such capital stock shall be limited to a fixed sum or percentage with
respect to the rights of the holders thereof to participate in dividends and in
the distribution of assets upon the voluntary or involuntary liquidation,
dissolution or winding up of such corporation.

         "Clearstream" means Clearstream Banking, societe anonyme, Luxembourg
(or any successor securities clearing agency).

         "Commission" means the Securities and Exchange Commission, from time
to time constituted, created under the Exchange Act, or, if at any time after
the execution of this

                                      -2-
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instrument such Commission is not existing and performing the duties now
assigned to it under the Trust Indenture Act, then the body performing such
duties at such time.

         "Company" means the Person named as the "Company" in the first
paragraph of this instrument until a successor Person shall have become such
pursuant to the applicable provisions of this Indenture, and thereafter
"Company" shall mean such successor Person.

         "Company Request" or "Company Order" means a written request or order
signed in the name of the Company by its Chairman of the Board, a Vice Chairman
of the Board, its President, a Vice President, its Treasurer, its Secretary, an
Assistant Secretary, or an Assistant Treasurer and delivered to the Trustee.

         "Comparable Treasury Issue" has the meaning set forth in the form of
Security contained in Section 203.

         "Comparable Treasury Price" has the meaning set forth in the form of
Security contained in Section 203.

         "Consolidated Net Assets" means total assets after deducting therefrom
all current liabilities as set forth on the most recent balance sheet of the
Guarantor and its consolidated Subsidiaries and computed in accordance with
generally accepted accounting principles.

         "Corporate Trust Office" means the principal corporate trust office of
the Trustee at which, at any particular time, its corporate trust business
shall be administered, which office at the date hereof is located at 1 Bank One
Plaza, Suite IL1-0126, Chicago, Illinois 60670-0126, Attention: Global
Corporate Trust Services, except for purposes of Section 1002, if required with
respect to a series of Securities, such term shall mean the office or agency of
the Trustee in the Borough of Manhattan, the City of New York, which office at
the date hereof is located at 14 Wall Street, Eighth Floor, New York, New York
10005.

         "Corporation" means a corporation, association, company, LLC,
joint-stock company or business trust.

         "Covenant Defeasance" has the meaning specified in Section 1403.

         "Defaulted Interest" has the meaning specified in Section 307.

         "Defeasance" has the meaning specified in Section 1202.

         "Depositary" means, with respect to Securities of any series issuable
in whole or in part in the form of one or more Global Securities, a clearing
agency registered under the Exchange Act that is designated to act as
Depositary for such Securities as contemplated by Section 301.

         "DTC" means The Depository Trust Company.

         "Euroclear" means the Euroclear System (or any successor securities
clearing agency).

         "Event of Default" has the meaning specified in Section 501.

                                      -3-
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         "Exchange Act" means the Securities Exchange Act of 1934 and any
statute successor thereto, in each case as amended from time to time.

          "Exchange Offer" has the meaning set forth in the form of Security
contained in Section 202.

         "Exchange Registration Statement" has the meaning set forth in the
form of Security contained in Section 202.

         "Exchange Security " means any Security issued in exchange for an
Original Security or Original Securities pursuant to the Exchange Offer or
otherwise registered under the Securities Act and any Security with respect to
which the next preceding Predecessor Security of such Security was an Exchange
Security.

         "Expiration Date" has the meaning specified in Section 104.

         "Global Security" means a Security that evidences all or part of the
Securities of any series and bears the legend set forth in Section 204 (or such
legend as may be specified as contemplated by Section 301 for such Securities).

         "Guarantee" means the irrevocable and unconditional guarantee of the
Securities by the Guarantor, as contained in Article Thirteen of this Indenture
and endorsed on the Securities.

         "guarantee" by any Person means the obligation, contingent or
otherwise, of such Person directly or indirectly guaranteeing any Debt or other
obligation of any other Person and, without limiting the generality of the
foregoing, any obligation, direct or indirect, contingent or otherwise, of such
Person (i) to purchase or pay (or advance or supply funds for the purchase or
payment of) such Debt or other obligation (whether arising by virtue of
partnership arrangements, by agreement to keep well, to purchase assets, goods,
securities or services, to take or pay or to maintain financial statement
conditions or otherwise or (ii) entered into for the purpose of assuring in any
other manner the obligee of such Debt or other obligation of the payment
thereof or to protect such obligee against loss in respect thereof (in whole or
in part); provided that the term "guarantee" shall not include endorsements for
collection or deposit in the ordinary course of business. The term "guarantee"
used as a verb has a corresponding meaning.

         "Guarantor" means H.J. Heinz Company, and its respective Successors,
if any, who becomes a Successor pursuant to Section 801.

         "Holder" means a Person in whose name a Security is registered in the
Security Register.

         "Indenture" means this instrument as originally executed and as it may
from time to time be supplemented or amended by one or more indentures
supplemental hereto entered into pursuant to the applicable provisions hereof,
including, for all purposes of this instrument and any such supplemental
indenture, the provisions of the Trust Indenture Act that are deemed to be a
part of and govern this instrument and any such supplemental indenture,
respectively. The term "Indenture" shall also include the terms of particular
series of Securities established as contemplated by Section 301.

                                      -4-
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          "Interest Payment Date", when used with respect to any Security,
means the Stated Maturity of an installment of interest on such Security.

         "Investment Company Act" means the Investment Company Act of 1940 and
any statute successor thereto, in each case as amended from time to time.

         "Maturity" when used with respect to any Security, means the date on
which the principal of such Security or an installment of principal becomes due
and payable as therein or herein provided, whether at the Stated Maturity or by
declaration of acceleration, call for redemption, tender for purchase by the
Company, or otherwise.

         "Notice of Default" means a written notice of the kind specified in
Section 501(4).

         "Officer's Certificate" of the Company means a certificate signed by
the Chairman of the Board, a Vice Chairman of the Board, the President, a Vice
President, the Treasurer, the Secretary or an Assistant Secretary, or an
Assistant Treasurer of the Company, and delivered to the Trustee.

         "Officer's Certificate" of the Guarantor means a certificate signed by
the Chairman of the Board, a Vice Chairman of the Board, the President, a Vice
President, the Treasurer, the Secretary or an Assistant Secretary, or an
Assistant Treasurer of the Company, and delivered to the Trustee.

         "Opinion of Counsel" means a written opinion of counsel, who may be
counsel for the Company, and who shall be acceptable to the Trustee.

         "Original Security" means any Security, other than an Exchange
Security, that is entitled to the benefits of a Registration Rights Agreement.

         "Outstanding", when used with respect to Securities, means, as of the
date of determination, all Securities theretofore authenticated and delivered
under this Indenture, except:

         (1) Securities theretofore cancelled by the Trustee or delivered to
         the Trustee for cancellation;

         (2) Securities for whose payment or redemption money in the necessary
         amount has been theretofore deposited with the Trustee or any Paying
         Agent (other than the Company or the Guarantor) in trust or set aside
         and segregated in trust by the Company (if the Company shall act as
         its own Paying Agent) for the Holders of such Securities; provided
         that, if such Securities are to be redeemed, notice of such redemption
         has been duly given pursuant to this Indenture or provision therefor
         satisfactory to the Trustee has been made; and

         (3) Securities which have been paid pursuant to Section 306 or in
         exchange for or in lieu of which other Securities have been
         authenticated and delivered pursuant to this Indenture, other than any
         such Securities in respect of which there shall have been presented to
         the Trustee proof satisfactory to it that such Securities are held by
         a bona fide purchaser in whose hands such Securities are valid
         obligations of the Company;

provided, however, that in determining whether the Holders of the requisite
principal amount of the Outstanding Securities have given, made or taken any
request, demand, authorization,

                                      -5-
<PAGE>

direction, notice, consent, waiver or other action hereunder as of any date,
(A) the principal amount of an Original Issue Discount Security which shall be
deemed to be Outstanding shall be the amount of the principal thereof which
would be due and payable as of such date upon acceleration of the Maturity
thereof to such date pursuant to Section 502, (B) if, as of such date, the
principal amount payable at the Stated Maturity of a Security is not
determinable, the principal amount of such Security which shall be deemed to be
Outstanding shall be the amount as specified or determined as contemplated by
Section 301, (C) the principal amount of a Security denominated in one or more
foreign currencies or currency units which shall be deemed to be Outstanding
shall be the U.S. dollar equivalent, determined as of such date in the manner
provided as contemplated by Section 301, of the principal amount of such
Security (or, in the case of a Security described in Clause (A) or (B) above,
of the amount determined as provided in such Clause), and (D) Securities owned
by the Company or any other obligor upon the Securities or any Affiliate of the
Company or of such other obligor shall be disregarded and deemed not to be
Outstanding, except that, in determining whether the Trustee shall be protected
in relying upon any such request, demand, authorization, direction, notice,
consent, waiver or other action, only Securities which the Trustee knows to be
so owned shall be so disregarded. Securities so owned which have been pledged
in good faith may be regarded as Outstanding if the pledgee establishes to the
satisfaction of the Trustee the pledgee's right so to act with respect to such
Securities and that the pledgee is not the Company or any other obligor upon
the Securities or any Affiliate of the Company or of such other obligor.

         "Paying Agent" means any Person authorized by the Company to pay the
principal of or any premium or interest on any Securities on behalf of the
Company.

         "Person" means any individual, Corporation, partnership, joint
venture, trust, unincorporated organization or government or any agency or
political subdivision thereof.

         "Place of Payment" when used with respect to the Securities of any
series, means the place or places where the principal of or Redemption Price,
and any premium and interest on the Securities of that series are payable as
specified as contemplated by Section 301.

         "Predecessor Security" of any particular Security means every previous
Security evidencing all or a portion of the same debt as that evidenced by such
particular Security; and, for the purposes of this definition, any Security
authenticated and delivered under Section 306 in exchange for or in lieu of a
mutilated, destroyed, lost or stolen Security shall be deemed to evidence the
same debt as the mutilated, destroyed, lost or stolen Security.

         "Principal Property" means any manufacturing or processing plant or
warehouse owned at the date hereof or hereafter acquired by the Guarantor or
any Restricted Subsidiary of the Guarantor which is located within the United
States and the gross book value (including related land and improvements
thereon and all machinery and equipment included therein without deduction of
any depreciation reserves) of which on the date as of which the determination
is being made exceeds 2% of Consolidated Net Assets, other than (i) any such
manufacturing or processing plant or warehouse or any portion thereof (together
with the land on which it is erected and fixtures comprising a part thereof)
which is financed by industrial development bonds which are tax exempt pursuant
to Section 103 of the Internal Revenue Code (or which receive similar tax
treatment under any subsequent amendments thereto or any successor laws thereof
or under any other similar statute of the United States), (ii) any property
which in the opinion of the Board of Directors is not of material importance to
the total business conducted by the Guarantor as an

                                      -6-
<PAGE>

entirety or (iii) any portion of a particular property which is similarly found
not to be of material importance to the use or operation of such property.

         "Purchasers" means the initial purchasers from the Company of
Securities being sold pursuant to Rule 144A.

         "QIB" means a "qualified institutional buyer" as defined in Rule 144A.

         "Redemption Date" when used with respect to any Security to be
redeemed, means the date fixed for such redemption by or pursuant to this
Indenture.

         "Redemption Price" when used with respect to any Security to be
redeemed, means the price at which it is to be redeemed pursuant to this
Indenture.

         "Reference Treasury Dealer" has the meaning set forth in the form of
Security contained in Section 203.

         "Reference Treasury Dealer Quotation" has the meaning set forth in the
form of Security contained in Section 203.

         "Registered Securities" means the Exchange Securities and all other
Securities sold or otherwise disposed of pursuant to an effective registration
statement under the Securities Act, together with their respective Successor
Securities.

         "Registration Default" has the meaning set forth in the form of
Security contained in Section 202.

         "Registration Rights Agreement" has the meaning specified in the form
of security in Section 202.

         "Regular Record Date" for the interest payable on any Interest Payment
Date on the Securities of any series means the date specified for that purpose
as contemplated by Section 301.

         "Regulation S" means Regulation S under the Securities Act (or any
successor provision), as it may be amended from time to time.

         "Regulation S Certificate" means a certificate substantially in the
form set forth in Annex A.

         "Regulation S Global Security" has the meaning specified in Section
201.

         "Regulation S Legend" means a legend substantially in the form of the
legend required in the form of Security set forth in accordance with Section
202 to be placed upon each Regulation S Security".

         "Regulation S Securities" means all Securities required pursuant to
Section 305(c) to bear a Regulation S Legend. Such term includes the Regulation
S Global Security.

<PAGE>

         "Remaining Scheduled Payments" has the meaning set forth in the form
of Security contained in Section 203.

         "Resale Registration Statement" has the meaning set forth in the form
of Security contained in Section 202.

         "Restricted Global Security" has the meaning specified in Section 201.

         "Restricted Period" means the period of 40 consecutive days beginning
on and including the later of (i) the day on which Securities are first offered
to persons other than distributors (as defined in Regulation S) in reliance on
Regulation S and (ii) the original issuance date of the Securities.

         "Restricted Securities" means all Securities required pursuant to
Section 305(c) to bear any Restricted Securities Legend. Such term includes the
Restricted Global Security.

         "Restricted Securities Certificate" means a certificate substantially
in the form set forth in Annex B.

         "Restricted Securities Legend" means, collectively, the legends
substantially in the forms of the legends required in the form of Security set
forth in accordance with Section 202 to be placed upon each Restricted
Security.

         "Restricted Subsidiary" means a Subsidiary of the Guarantor (i)
substantially all the property of which is located, or substantially all the
business of which is carried on, within the United States and (ii) which owns a
Principal Property.

         "Rule 144A" means Rule 144A under the Securities Act (or any successor
provision), as it may be amended from time to time.

         "Rule 144A Securities" means the Securities purchased by the
Purchasers from the Company pursuant to Rule 144A.

         "Securities" has the meaning stated in the first recital of this
Indenture and more particularly means any Securities authenticated and
delivered under this Indenture.

         "Securities Act" means the Securities Act of 1933 and any statute
successor thereto, in each case as amended from time to time.

         "Securities Act Legend" means a Restricted Securities Legend or a
Regulation S Legend.

         "Security Register" and "Security Registrar" have the respective
meanings specified in Section 305.

         "Special Interest" has the meaning set forth in the form of Security
contained in Section 202.

         "Special Record Date" for the payment of any Defaulted Interest means
a date fixed by the Trustee pursuant to Section 307.

                                      -8-
<PAGE>

         "Stated Maturity", when used with respect to any Security or any
installment of principal thereof or interest thereon, means the date specified
in such Security as the fixed date on which the principal of such Security or
any installment of principal or interest is due and payable.

         "Subsidiary" means any Corporation or limited partnership more than
50% of the outstanding voting stock or partnership interest of which is owned,
directly or indirectly, by the Guarantor or by one or more other Subsidiaries,
or by the Guarantor and one or more other Subsidiaries. For the purposes of
this definition, "voting stock" means stock which ordinarily has voting power
for the election of directors, whether at all times or only so long as no
senior class of stock has such voting power by reason of any contingency.

         "Treasury Rate" has the meaning set forth in the form of Security
contained in Section 203.

         "Trust Indenture Act" means the Trust Indenture Act of 1939 as in
force at the date as of which this instrument was executed; provided, however,
that in the event the Trust Indenture Act of 1939 is amended after such date,
"Trust Indenture Act" means, to the extent required by any such amendment, the
Trust Indenture Act of 1939 as so amended.

         "Trustee" means the Person named as the "Trustee" in the first
paragraph of this instrument until a successor Trustee shall have become such
pursuant to the applicable provisions of this Indenture, and thereafter
"Trustee" shall mean or include each Person who is then a Trustee hereunder,
and if at any time there is more than one such Person, "Trustee" as used with
respect to the Securities of any series shall mean the Trustee with respect to
Securities of that series.

         "Unrestricted Global Security" has the meaning specified in Section
201.

         "Unrestricted Securities" has the meaning specified in Section 201.

         "Vice President", when used with respect to the Company, the Guarantor
or the Trustee, means any vice president, whether or not designated by a number
or a word or words added before or after the title "vice president".

         "Voting Stock" means Capital Stock of a Corporation of the class or
classes having general voting power under ordinary circumstances to elect at
least a majority of the board of directors, managers or trustees of such
Corporation (irrespective of whether or not at the time stock of any other
class or classes shall have or might have power upon the occurrence of any
contingency).

SECTION 102.      Compliance Certificates and Opinions.

         Upon any application or request by the Company or the Guarantor to the
Trustee to take any action under any provision of this Indenture, the Company
or the Guarantor shall furnish to the Trustee such certificates and opinions as
may be required under the Trust Indenture Act. Each such certificate or opinion
shall be given in the form of an Officer's Certificate, if to be given by an
officer of the Company, or an Opinion of Counsel, if to be given by counsel,
and shall comply with the requirements of the Trust Indenture Act and any other
requirements set forth in this Indenture.

                                      -9-
<PAGE>

         Every certificate or opinion with respect to compliance with a
condition or covenant provided for in this Indenture (except for certificates
provided for in Section 1005) shall include,

         (1) a statement that each individual signing such certificate or
         opinion has read such covenant or condition and the definitions herein
         relating thereto;

         (2) a brief statement as to the nature and scope of the examination or
         investigation upon which the statements or opinions contained in such
         certificate or opinion are based;

         (3) a statement that, in the opinion of each such individual, he has
         made such examination or investigation as is necessary to enable him
         to express an informed opinion as to whether or not such covenant or
         condition has been complied with; and

         (4) a statement as to whether, in the opinion of each such individual,
         such condition or covenant has been complied with.

SECTION 103.      Form of Documents Delivered to Trustee.

         In any case where several matters are required to be certified by, or
covered by an opinion of, any specified Person, it is not necessary that all
such matters be certified by, or covered by the opinion of, only one such
Person, or that they be so certified or covered by only one document, but one
such Person may certify or give an opinion with respect to some matters and one
or more other such Persons as to other matters, and any such Person may certify
or give an opinion as to such matters in one or several documents.

         Any certificate or opinion of an officer of the Company may be based,
insofar as it relates to legal matters, upon a certificate or opinion of, or
representations by, counsel, unless such officer knows, or in the exercise of
reasonable care should know, that the certificate or opinion or representations
with respect to the matters upon which his certificate or opinion is based are
erroneous. Any such certificate or opinion of counsel may be based, insofar as
it relates to factual matters, upon a certificate or opinion of, or
representations by, an officer or officers of the Company stating that the
information with respect to such factual matters is in the possession of the
Company, unless such counsel knows, or in the exercise of reasonable care
should know, that the certificate or opinion or representations with respect to
such matters are erroneous.

         Where any Person is required to make, give or execute two or more
applications, requests, consents, certificates, statements, opinions or other
instruments under this Indenture, they may, but need not, be consolidated and
form one instrument.

SECTION 104.      Acts of Holders; Record Dates.

         Any request, demand, authorization, direction, notice, consent, waiver
or other action provided or permitted by this Indenture to be given, made or
taken by Holders may be embodied in and evidenced by one or more instruments of
substantially similar tenor signed by such Holders in person or by agent duly
appointed in writing; and, except as herein otherwise expressly provided, such
action shall become effective when such instrument or instruments are delivered
to the Trustee and, where it is hereby expressly required, to the Company. Such
instrument or instruments (and the action embodied therein and evidenced
thereby) are herein sometimes referred to as the "Act" of the Holders signing
such instrument or instruments. Proof

                                     -10-
<PAGE>

of execution of any such instrument or of a writing appointing any such agent
shall be sufficient for any purpose of this Indenture and (subject to Section
601) conclusive in favor of the Trustee and the Company, if made in the manner
provided in this Section.

         The fact and date of the execution by any Person of any such
instrument or writing may be proved by the affidavit of a witness of such
execution or by a certificate of a notary public or other officer authorized by
law to take acknowledgments of deeds, certifying that the individual signing
such instrument or writing acknowledged to him the execution thereof. Where
such execution is by a signer acting in a capacity other than his individual
capacity, such certificate or affidavit shall also constitute sufficient proof
of his authority. The fact and date of the execution of any such instrument or
writing, or the authority of the Person executing the same, may also be proved
in any other manner which the Trustee deems sufficient.

         The ownership of Securities shall be proved by the Security Register.

         Any request, demand, authorization, direction, notice, consent, waiver
or other Act of the Holder of any Security shall bind every future Holder of
the same Security and the Holder of every Security issued upon the registration
of transfer thereof or in exchange therefor or in lieu thereof in respect of
anything done, omitted or suffered to be done by the Trustee or the Company in
reliance thereon, whether or not notation of such action is made upon such
Security.

         The Company may set any day as a record date for the purpose of
determining the Holders of Outstanding Securities of any series entitled to
give, make or take any request, demand, authorization, direction, notice,
consent, waiver or other action provided or permitted by this Indenture to be
given, made or taken by Holders of Securities of such series, provided that the
Company may not set a record date for, and the provisions of this paragraph
shall not apply with respect to, the giving or making of any notice,
declaration, request or direction referred to in the next paragraph. If any
record date is set pursuant to this paragraph, the Holders of Outstanding
Securities of the relevant series on such record date, and no other Holders,
shall be entitled to take the relevant action, whether or not such Holders
remain Holders after such record date; provided that no such action shall be
effective hereunder unless taken on or prior to the applicable Expiration Date
by Holders of the requisite principal amount of Outstanding Securities of such
series on such record date. Nothing in this paragraph shall be construed to
prevent the Company from setting a new record date for any action for which a
record date has previously been set pursuant to this paragraph (whereupon the
record date previously set shall automatically and with no action by any Person
be cancelled and of no effect), and nothing in this paragraph shall be
construed to render ineffective any action taken by Holders of the requisite
principal amount of Outstanding Securities of the relevant series on the date
such action is taken. Promptly after any record date is set pursuant to this
paragraph, the Company, at its own expense, shall cause notice of such record
date, the proposed action by Holders and the applicable Expiration Date to be
given to the Trustee in writing and to each Holder of Securities of the
relevant series in the manner set forth in Section 106.

         The Trustee may set any day as a record date for the purpose of
determining the Holders of Outstanding Securities of any series entitled to
join in the giving or making of (i) any Notice of Default, (ii) any declaration
of acceleration referred to in Section 502, (iii) any request to institute
proceedings referred to in Section 507(2) or (iv) any direction referred to in
Section 512, in each case with respect to Securities of such series. If any
record date is set pursuant to this paragraph, the Holders of Outstanding
Securities of such series on such record date, and no other Holders,

                                     -11-
<PAGE>

shall be entitled to join in such notice, declaration, request or direction,
whether or not such Holders remain Holders after such record date; provided
that no such action shall be effective hereunder unless taken on or prior to
the applicable Expiration Date by Holders of the requisite principal amount of
Outstanding Securities of such series on such record date. Nothing in this
paragraph shall be construed to prevent the Trustee from setting a new record
date for any action for which a record date has previously been set pursuant to
this paragraph (whereupon the record date previously set shall automatically
and with no action by any Person be cancelled and of no effect), and nothing in
this paragraph shall be construed to render ineffective any action taken by
Holders of the requisite principal amount of Outstanding Securities of the
relevant series on the date such action is taken. Promptly after any record
date is set pursuant to this paragraph, the Trustee, at the Company's expense,
shall cause notice of such record date, the proposed action by Holders and the
applicable Expiration Date to be given to the Company in writing and to each
Holder of Securities of the relevant series in the manner set forth in Section
106.

         With respect to any record date set pursuant to this Section, the
Company party hereto which sets such record dates may designate any day as the
"Expiration Date" and from time to time may change the Expiration Date to any
earlier or later day; provided that no such change shall be effective unless
notice of the proposed new Expiration Date is given to the Trustee and the
other party hereto in writing, and to each Holder of Securities of the relevant
series in the manner set forth in Section 106, on or prior to the existing
Expiration Date. If an Expiration Date is not designated with respect to any
record date set pursuant to this Section, the Company party hereto which set
such record date shall be deemed to have initially designated the 180th day
after such record date as the Expiration Date with respect thereto, subject to
its right to change the Expiration Date as provided in this paragraph.
Notwithstanding the foregoing, no Expiration Date shall be later than the 180th
day after the applicable record date.

         Without limiting the foregoing, a Holder entitled hereunder to take
any action hereunder with regard to any particular Security may do so with
regard to all or any part of the principal amount of such Security or by one or
more duly appointed agents each of which may do so pursuant to such appointment
with regard to all or any part of such principal amount.

SECTION 105.      Notices, Etc., to Trustee, Company and Guarantor.

         Any request, demand, authorization, direction, notice, consent, waiver
or Act of Holders or other document provided or permitted by this Indenture to
be made upon, given or furnished to, or filed with,

         (1) the Trustee by any Holder or by the Company or the Guarantor shall
         be sufficient for every purpose hereunder if made, given, furnished or
         filed in writing to or with the Trustee at its Corporate Trust Office,
         Attention: Global Corporate Trust Services, or

         (2) the Company or the Guarantor by the Trustee or by any Holder shall
         be sufficient for every purpose hereunder (unless otherwise herein
         expressly provided) if in writing and mailed, first-class postage
         prepaid, to the Company or the Guarantor addressed to it at the
         address previously furnished in writing to the Trustee by the Company
         or the Guarantor, as the case may be.

                                     -12-
<PAGE>

SECTION 106.      Notice to Holders; Waiver.

         Where this Indenture provides for notice to Holders of any event, such
notice shall be sufficiently given (unless otherwise herein expressly provided)
if in writing and mailed, first-class postage prepaid, to each Holder affected
by such event, at his address as it appears in the Security Register, not later
than the latest date (if any), and not earlier than the earliest date (if any),
prescribed for the giving of such notice. In any case where notice to Holders
is given by mail, neither the failure to mail such notice, nor any defect in
any notice so mailed, to any particular Holder shall affect the sufficiency of
such notice with respect to other Holders. Where this Indenture provides for
notice in any manner, such notice may be waived in writing by the Person
entitled to receive such notice, either before or after the event, and such
waiver shall be the equivalent of such notice. Waivers of notice by Holders
shall be filed with the Trustee, but such filing shall not be a condition
precedent to the validity of any action taken in reliance upon such waiver.

         In case by reason of the suspension of regular mail service or by
reason of any other cause it shall be impracticable to give such notice by
mail, then such notification as shall be made with the approval of the Trustee
shall constitute a sufficient notification for every purpose hereunder.

SECTION 107.      Conflict with Trust Indenture Act.

         If any provision hereof limits, qualifies or conflicts with a
provision of the Trust Indenture Act which is required under such Act to be a
part of and govern this Indenture, the latter provision shall control. If any
provision of this Indenture modifies or excludes any provision of the Trust
Indenture Act which may be so modified or excluded, the latter provision shall
be deemed to apply to this Indenture as so modified or to be excluded, as the
case may be.

SECTION 108.      Effect of Headings and Table of Contents.

         The Article and Section headings herein and the Table of Contents are
for convenience only and shall not affect the construction hereof.

SECTION 109.      Successors and Assigns.

         All covenants and agreements in this Indenture by the Company or the
Guarantor shall bind its successors and assigns, whether so expressed or not.

SECTION 110.      Separability Clause.

         In case any provision in this Indenture or in the Securities or the
Guarantee shall be invalid, illegal or unenforceable, the validity, legality
and enforceability of the remaining provisions shall not in any way be affected
or impaired thereby.

SECTION 111.      Benefits of Indenture.

         Except to the extent otherwise expressly provided in the form of
Security or Form of Guarantee for any series, nothing in this Indenture, in the
Guarantee or in the Securities, express

                                     -13-
<PAGE>

or implied, shall give to any Person, other than the parties hereto and their
successors hereunder and the Holders, any benefit or any legal or equitable
right, remedy or claim under this Indenture.

SECTION 112.      Governing Law.

         This Indenture, the Guarantee and the Securities shall be governed by
and construed in accordance with the law of the State of New York.

SECTION 113.      Legal Holidays.

         In any case where any Interest Payment Date, Redemption Date or Stated
Maturity of any Security shall not be a Business Day at any Place of Payment,
then (notwithstanding any other provision of this Indenture or of the
Securities (other than a provision of any Security which specifically states
that such provision shall apply in lieu of this Section)) payment of interest
or principal (and premium, if any) need not be made at such Place of Payment on
such date, but may be made on the next succeeding Business Day at such Place of
Payment with the same force and effect as if made on the Interest Payment Date
or Redemption Date, or at the Stated Maturity.

                                  ARTICLE TWO
                                 SECURITY FORMS

SECTION 201.      Forms Generally.

         The Securities of each series shall be in substantially the form set
forth in this Article, or in such other form as shall be established by or
pursuant to a Board Resolution, Officer's Certificate delivered pursuant to
Section 303 or in one or more indentures supplemental hereto, in each case with
such appropriate insertions, omissions, substitutions and other variations as
are required or permitted by this Indenture, and may have such letters, numbers
or other marks of identification and such legends or endorsements placed
thereon as may be required to comply with the rules of any securities exchange
or Depositary therefor or as may, consistently herewith, be determined by the
officers executing such Securities, as evidenced by their execution thereof. If
the form of Securities of any series is established by action taken pursuant to
a Board Resolution, a copy of an appropriate record of such action shall be
certified by the Secretary or an Assistant Secretary of the Company and
delivered to the Trustee at or prior to the delivery of the Company Order
contemplated by Section 303 for the authentication and delivery of such
Securities.

         Definitive Securities shall be printed, lithographed or engraved on
steel engraved borders or may be produced in any other manner, all as
determined by the officers executing such Securities, as evidenced by their
execution of such Securities.

         Upon their original issuance, Rule 144A Securities shall be issued in
the form of one or more Global Securities registered in the name of DTC, as
Depositary, or its nominee and deposited with the Security Registrar, as
custodian for DTC, for credit by DTC to the respective accounts of beneficial
owners of the Securities represented thereby (or such other accounts as they
may direct). Such Global Securities, together with their Successor Securities
that are Global

                                     -14-
<PAGE>

Securities other than a Regulation S Global Security, are collectively herein
called the "Restricted Global Security".

         Upon their original issuance, Regulation S Securities shall be issued
in the form of one or more Global Securities registered in the name of DTC, as
Depositary, or its nominee and deposited with the Security Registrar, as
custodian for DTC, for credit by DTC to the respective accounts of beneficial
owners of the Securities represented thereby (or such other accounts as they
may direct), provided that upon such deposit all such Securities shall be
credited to or through accounts maintained at DTC by or on behalf of Euroclear
or Clearstream. Such Global Securities, together with their Successor
Securities that are Global Securities other than a Restricted Global Security,
are collectively herein called a "Regulation S Global Security". After such
time as the Restricted Period shall have terminated, such Global Securities
shall be referred to herein collectively as the "Unrestricted Global
Securities". The aggregate principal amount of the Regulation S Global Security
or the Unrestricted Global Security may from time to time be increased or
decreased by adjustments made on the records of the Trustee, as custodian for
the U.S. Depositary, in connection with a corresponding decrease or increase in
the aggregate principal amount of the Restricted Global Security, as
hereinafter provided. As used herein, the term "Restricted Period" means the
period of 40 consecutive days beginning on and including the first day after
the later of (i) the day that the Initial Purchasers advise the Company and the
Trustee is the day on which the Securities are first offered to persons other
than distributors (as defined in Regulation S) in reliance on Regulation S and
(ii) the Closing Date. The Regulation S Global Security, the Unrestricted
Global Security and all other Securities that are not Restricted Securities
shall collectively be referred to herein as the "Unrestricted Securities." The
Company, the Guarantor, the Trustee and either of their Agents shall not be
responsible for any acts or omissions of a Depository, for any depository
records of beneficial ownership interests or for any transactions between the
Depository and beneficial owners.

SECTION 202.      Form of Face of Security.

       [Insert any legend required by Section 204.]

                                     -15-
<PAGE>

                          H. J. Heinz FINANCE Company

                            o% Guaranteed Note due o
                 Unconditionally and irrevocably guaranteed by
                              H. J. Heinz Company

No. __

                                                                       CUSIP: o

         H. J. Heinz Finance Company, a Delaware corporation (the "Company"),
which term includes any successor corporation under the Indenture hereinafter
referred to, for value received, hereby promises to pay to Cede & Co. or
registered assigns, the principal sum of dollars ($ ) on ______________________
at the office or agency of the Company maintained for this purpose in the City
of Chicago, Illinois, which shall initially be the corporate trust office of
Bank One, National Association, the Trustee under the Indenture hereinafter
referred to, in such coin or currency of the United States of America as at the
time of payment shall be legal tender for the payment of public and private
debts, and to pay to the registered holder hereof, as hereinafter provided,
interest thereon, in like coin or currency, on ______________ and
______________ of each year, or, if such date is not a Business Day (as defined
below), on the next Business Day, commencing ______________ , 20___ at the rate
per annum specified below. Interest shall be paid to the persons in whose name
this Security is registered on ______________ and ______________ (whether or
not a Business Day) immediately preceding such ______________ and
______________ (the "Record Date"). "Business Day" means any day other than a
Saturday, a Sunday or a day on which banking institutions in The City of New
York are authorized or obligated by law, executive order or governmental decree
to be closed.

         This Security will bear interest at an annual rate of o% per annum in
arrears from the date hereof on said principal amount on each ______________
and ______________, beginning ______________ , 20___, until payment of said
principal amount has been made or duly provided for; [if Original Security,
insert -- provided, however, that if (i) a registration statement (the
"Exchange Registration Statement") under the Securities Act of 1933, as amended
(the "Securities Act"), registering a security substantially identical to this
Security pursuant to an exchange offer (the "Exchange Offer") has not been
filed with the Securities and Exchange Commission (the "Commission") within ___
days after the Securities have been initially issued as required by the
Exchange and Registration Rights Agreement, dated as of ______________ , 20___
by and between the Company, the Guarantor and the Holders from time to time of
the Securities (the "Registration Rights Agreement") or, if applicable, a
registration statement registering this security resale (the "Shelf
Registration Statement") has not been filed as required by the Exchange and
Registration Rights Agreement or (ii) such Exchange Registration Statement has
not become effective or been declared effective by the Commission within 330
days after the Securities have been initially issued or such Shelf Registration
Statement has not become effective on or before the date on which such
registration statement is required to become or be declared effective or (iii)
the Exchange Offer has not been completed within 45 days after the initial
effective date of the Exchange Registration Statement relating to the Exchange
Offer (if the

                                     -16-
<PAGE>

Exchange Offer is then required to be made) or (iv) any Exchange Registration
Statement or Shelf Registration Statement required to be filed is filed and
declared effective but shall thereafter either be withdrawn by the Company or
shall become subject to an effective stop order issued pursuant to Section 8(d)
of the Securities Act suspending the effectiveness of such registration
statement without being succeeded immediately by an additional registration
statement filed and declared effective (each such event referred to in clauses
(i) through (iv), a "Registration Default" and each period during which a
Registration Default has occurred and is continuing, a "Registration Default
Period"), then special interest ("Special Interest"), in addition to the stated
interest on the Securities, shall accrue at a per annum rate of 0.25% for the
first 90 days of the Registration Default Period, and at a per annum rate of
0.50% thereafter for the remaining portion of the Default Period. At no time
will the aggregate of any such Special Interest described above accrue at an
annual rate in excess of 0.50% and Special Interest shall accrue and be payable
until such time as no Registration Default is in effect (after which such
Special Interest will cease to accrue). Accrued Special Interest, if any, shall
be paid semi-annually on each Interest Payment Date and the amount of accrued
Special Interest shall be determined on the basis of the number of days
actually elapsed.] Any accrued and unpaid interest [if Original Security,
insert -- (including Special Interest)] on this Security upon the issuance of
an Exchange Security (as defined in the Indenture) in exchange for this
Security shall cease to be payable to the Holder hereof but such accrued and
unpaid interest [if Original Security, insert -- (including Special Interest)]
shall be payable on the next Interest Payment Date for such Exchange Security
to the Holder thereof on the related Regular Record Date. Interest on this
Security [if Original Security, insert --, with the exception of Special
Interest,] shall be computed on the basis of a 360-day year of twelve 30-day
months. [if Original Security, insert Following the date on which all
Registration Defaults are cured, the accrual of Special Interest will cease.]

         Notwithstanding anything to the contrary herein, neither the Company
nor the Guarantor shall be required to pay Special Interest to a Holder of
Transfer Restricted Securities if such Holder failed to comply with its
obligations to make certain of the representations set forth in, or failed to
provide certain of the information required to be provided by it pursuant to
the Registration Rights Agreement. As used herein, the term "Transfer
Restricted Securities" means (i) each Security until the date on which such
Security has been exchanged for a freely transferable Exchange Security in the
Exchange Offer, (ii) each Security until the date on which it has been
effectively registered under the Securities Act and disposed of in accordance
with the Shelf Registration Statement or (iii) each Security until the date on
which it is distributed to the public pursuant to Rule 144 under the Securities
Act or is saleable pursuant to Rule 144(k) under the Securities Act].

         [If the Security is not to bear interest prior to Maturity, insert -
The principal of this Security shall not bear interest except in the case of a
default in payment of principal upon acceleration, upon redemption or at Stated
Maturity and in such case the overdue principal and any overdue premium shall
bear interest at the rate of __% per annum (to the extent that the payment of
such interest shall be legally enforceable), from the dates such amounts are
due until they are paid or made available for payment. Interest on any overdue
principal or premium shall be payable on demand. [Any such interest on overdue
principal or premium which is not paid on demand shall bear interest at the
rate of __% per annum (to the extent that the payment of such interest on
interest shall be legally enforceable), from the date of such demand until the
amount so demanded is paid or made available for payment. Interest on any
overdue interest shall be payable on demand.]

                                     -17-
<PAGE>

         This Security has initially been issued in the form of a Global
Security (as defined on the reverse hereof), and the Company has initially
designated The Depository Trust Company ("DTC," which term shall include any
successor) as the Depositary for this Security. For as long as this Security or
any portion hereof is issued in such form, and notwithstanding the foregoing,
all payments of interest, principal and other amounts in respect of this
Security or such portion (including payments upon repurchase or redemption
referred to on the reverse hereof) shall be made to the Depositary or its
nominee in accordance with its applicable procedures, in the coin or currency
specified above and as further provided on the reverse hereof.

         Reference is hereby made to the further provisions of this Security
set forth on the reverse hereof and such further provisions shall for all
purposes have the same effect as though fully set forth at this place.

         This Security shall not be valid or become obligatory for any purpose
until the certificate of authentication hereon shall have been executed by the
Trustee under the Indenture referred to on the reverse hereof.

                                     -18-
<PAGE>

IN WITNESS WHEREOF, the Company has caused this Security to be signed by its
duly authorized officer and has caused its corporate seal to be affixed
hereunto.

                                            H.J. HEINZ FINANCE COMPANY

                                            By:
                                               -------------------------------
                                               Title:

Attest:

----------------------
Secretary

                                     -19-
<PAGE>

SECTION 203.   Form of Reverse of Security.

         This Security is one of a duly authorized issue of securities of the
Company (herein called the "Securities"), issued and to be issued in one or
more series under an Indenture, dated as of July 6, 2001 (herein called the
"Indenture", which term shall have the meaning assigned to it in such
instrument), by and among the Company, the Guarantor and Bank One, National
Association, as Trustee (herein called the "Trustee", which term includes any
successor trustee under the Indenture), and reference is hereby made to the
Indenture for a statement of the respective rights, limitations of rights,
duties and immunities thereunder of the Company, the Guarantor, the Trustee and
the Holders of the Securities and of the terms upon which the Securities are,
and are to be, authenticated and delivered. This Security is one of the series
designated on the face hereof [if applicable, insert -- , limited in aggregate
principal amount to $______________].

         As provided in Article Thirteen of the Indenture, the Guarantor has,
for the benefit of the Holders, irrevocably and unconditionally guaranteed the
due and punctual payment of all amounts payable by the Company under the
Indenture and the Securities as and when the same shall become due and payable.
Reference is hereby made to Article [Thirteen] of the Indenture for a statement
of the respective rights, limitations of rights, duties and amounts thereunder
of the Guarantor and the Trustee.

                  [If Original Securities, insert -- This Security is entitled
to the benefits of a Registration Rights Agreement as provided for on the face
of this Security and in Section 1010 of the Indenture. The Company may register
a security substantially identical to this Security (except that such Security
will not contain terms with respect to the payment of Special Interest (as
described on the face of this Security) or Transfer Restrictions) pursuant to
an Exchange Offer, or in lieu thereof, a Resale Registration Statement.]

                  Reference is hereby made to the Indenture for a statement of
the respective rights, limitations of rights, duties and immunities thereunder
of the Company, the Guarantor, the Trustee and the Holders of the Securities
and of the terms upon which the Securities are, and are to be, authenticated
and delivered.

                  [if applicable, insert -- The Securities are subject to
redemption, as a whole or from time to time in part, upon not less than 30 nor
more than 60 days' notice mailed to each Holder of Securities to be redeemed at
its address as it appears in the Securities Register, on any date prior to
their Stated Maturity at a Redemption price equal to the greater of (i) 100% of
the principal amount of such Securities plus accrued interest to the date of
redemption or (ii) the sum of the present values of the Remaining Scheduled
Payments of principal and interest thereon (not including any portion of such
payments of interest accrued as of the Redemption Date) discounted to the
Redemption Date on a semiannual basis (assuming a 360-day year consisting of
twelve 30-day months) at the Treasury Rate (as defined below) plus [____] basis
points, plus accrued interest thereon to the redemption date; provided,
however, that unless the Company defaults in payment of the Redemption Price,
on or after the Redemption Date, interest will cease to accrue on the
Securities or portions thereof called for redemption.

                  "Treasury Rate" means the rate per annum equal to the
semiannual equivalent yield to maturity (computed as of the second business day
immediately preceding the redemption date) of the Comparable Treasury Issue,
assuming a price for the Comparable Treasury Issue

                                     -20-
<PAGE>

(expressed as a percentage of its principal amount) equal to the Comparable
Treasury Price for the redemption date.

                  "Comparable Treasury Issue" means the U.S. treasury security
selected by an Independent investment banker that would be used, at the time of
selection and in accordance with customary financial practice, in pricing new
issues of corporate debt securities of comparable maturity to the remaining
term of the Notes. "Independent investment banker" means one of the Reference
Treasury Dealers that the Company appoints.

                  "Comparable Treasury Price" means (i) the average of the bid
and asked prices for the Comparable Treasury Issue (expressed in each case as a
percentage of its principal amount) as of the third business day preceding the
redemption date, as set forth in the daily statistical release (or any
successor release) published by the Federal Reserve Bank of New York and
designated "Composite 3:30 p.m. Quotations for U.S. Government Securities" or
(ii) if the release (or any successor release) is not published or does not
contain such prices on that business day, (1) the average of the Reference
Treasury Dealer Quotations for the redemption date, after excluding the highest
and lowest of such Reference Treasury Dealer Quotations or (2) if the Trustee
obtains fewer than four such Reference Treasury Dealer Quotations, the average
of all quotations obtained.

                  "Reference Treasury Dealer" means each of
[______________________] (and its successors) and three other nationally
recognized investment banking firms that are primary U.S. Government securities
dealers specified from time to time by the Company. If, however, any of them
ceases to be a primary U.S. Government securities dealer, the Company will
substitute another nationally recognized investment banking firm that is such a
dealer.

                  "Reference Treasury Dealer Quotations" means, with respect to
each Reference Treasury Dealer and any redemption date, the average, as
determined by the Trustee, of the bid and asked prices for the Comparable
Treasury Issue (expressed in each case as a percentage of its principal amount
and in each case for settlement on the next business day) quoted in writing to
the Trustee by such Reference Treasury Dealer as of 3:30 p.m., New York time,
on the third business day preceding the redemption date.

                  "Remaining Scheduled Payments" means the remaining scheduled
payments of the principal and interest (excluding any interest accrued and paid
as of the date of redemption) on each Note to be redeemed that would be due
after the related redemption date but for such redemption.]

                  [If applicable, insert - The Securities of this series are
subject to redemption upon not less than 30 days' notice by mail, (1) on
........... in any year commencing with the year .... and ending with the year
..... through operation of the sinking fund for this series at the Redemption
Prices for redemption through operation of the sinking fund (expressed as
percentages of the principal amount) set forth in the table below, and (2) at
any time [if applicable, insert - on or after .......], as a whole or in part,
at the election of the Company, at the Redemption Prices for redemption
otherwise than through operation of the sinking fund (expressed as percentages
of the principal amount) set forth in the table below: If redeemed during the
12-month period beginning ...........of the years indicated,

                                     -21-
<PAGE>

<TABLE>
<S>                      <C>         <C>                    <C>

                                     Redemption Price For
                                      Redemption Through    Redemption Price For Redemption
                                       Operation of the          Otherwise Than Through
                          Year           Sinking Fund        Operation of the Sinking Fund
                          ----       --------------------   -------------------------------

</TABLE>

and thereafter at a Redemption Price equal to ....% of the principal amount,
together in the case of any such redemption (whether through operation of the
sinking fund or otherwise) with accrued interest to the Redemption Date, but
interest installments whose Stated Maturity is on or prior to such Redemption
Date will be payable to the Holders of such Securities, or one or more
Predecessor Securities, of record at the close of business on the relevant
Record Dates referred to on the face hereof, all as provided in the Indenture.]

                  [If applicable, insert - Notwithstanding the foregoing, the
Company may not, prior to ......., redeem any Securities of this series as
contemplated by [if applicable, insert - Clause (2) of] the preceding paragraph
as a part of, or in anticipation of, any refunding operation by the
application, directly or indirectly, of moneys borrowed having an interest cost
to the Company (calculated in accordance with generally accepted financial
practice) of less than.....% per annum.]

                  [If applicable, insert - The sinking fund for this series
provides for the redemption on ......... in each year beginning with the year
...... and ending with the year .... of [if applicable, insert - not less than
$...... ("mandatory sinking fund") and not more than] $...... aggregate
principal amount of Securities of this series. Securities of this series
acquired or redeemed by the Company otherwise than through [if applicable,
insert - mandatory] sinking fund payments may be credited against subsequent
[if applicable, insert - mandatory] sinking fund payments otherwise required to
be made [if applicable, insert -, in the inverse order in which they become
due].]

                  [If the Security is subject to redemption of any kind, insert
- If the Company is redeeming less than all the Securities, the Trustee will
select the particular Notes to be redeemed by lot or by another method the
Trustee deems fair and appropriate. In the event of redemption of this Security
in part only, a new Security or Securities for the unredeemed portion hereof
will be issued in the name of the holder hereof upon the cancellation hereof.]

                  Except as described above, the Securities will not be
redeemable by the Company prior to maturity and will not be entitled to the
benefit of any sinking fund.

                  [If applicable, insert paragraph regarding subordination of
the Security.]

                  [If applicable, insert - The Indenture contains provisions
for defeasance at any time of [the entire indebtedness of this Security] [or]
[certain restrictive covenants and Events of Default with respect to this
Security] [, in each case] upon compliance with certain conditions set forth in
the Indenture.]

                  In the event of a deposit or withdrawal of an interest in
this Security (including upon an exchange, transfer, redemption or repurchase
of this Security in part only) effected in

                                     -22-
<PAGE>

accordance with the Applicable Procedures, the Security Registrar, upon receipt
of notice of such event from the Depositary's custodian for the Security, shall
make an adjustment on its records to reflect an increase or decrease of the
Outstanding principal amount of this Security resulting from such deposit or
withdrawal, as the case may be.

                  Unless the context otherwise requires, the Original
securities (as defined in the Indenture) and the Exchange Securities (as
defined in the Indenture) shall constitute one series for all purposes under
the Indenture, including without limitation, amendments, waivers and
redemptions.

      [If the Security is not an Original Issue Discount Security, insert -- If
an Event of Default with respect to Securities of this series shall occur and
be continuing, the principal of the Securities of this series may be declared
due and payable in the manner and with the effect provided in the Indenture.]

                           [If the Security is an Original Issue Discount
Security, insert-- If an Event of Default with respect to Securities of this
series shall occur and be continuing, an amount of principal of the Securities
of this series may be declared due and payable in the manner and with the
effect provided in the Indenture. Such amount shall be equal to -- insert
formula for determining the amount. Upon payment (i) of the amount of principal
so declared due and payable and (ii) of interest on any overdue principal,
premium and interest (in each case to the extent that the payment of such
interest shall be legally enforceable), all of the Company's obligations in
respect of the payment of the principal of and premium and interest, if any, on
the Securities of this series shall terminate.]

         The Indenture permits, with certain exceptions as therein provided,
the amendment thereof and the modification of the rights and obligations of the
Company and the Guarantor and the rights of the Holders of the Securities of
each series to be affected under the Indenture at any time by the Company, the
Guarantor and the Trustee with the consent of the Holders of a majority in
principal amount of the Securities at the time Outstanding of each series to be
affected. The Indenture also contains provisions permitting the Holders of a
majority in principal amount of the Securities of each series at the time
Outstanding, on behalf of the Holders of all Securities of such series, to
waive compliance by the Company with certain provisions of the Indenture and
certain past defaults under the Indenture and their consequences. Any such
consent or waiver by the Holder of this Security shall be conclusive and
binding upon such Holder and upon all future Holders of this Security and of
any Security issued upon the registration of transfer hereof or in exchange
herefor or in lieu hereof, whether or not notation of such consent or waiver is
made upon this Security.

         As provided in and subject to the provisions of the Indenture, the
Holder of this Security shall not have the right to institute any proceeding
with respect to the Indenture or for the appointment of a receiver or trustee
or for any other remedy thereunder, unless such Holder shall have previously
given the Trustee written notice of a continuing Event of Default with respect
to the Securities of this series, the Holders of not less than 25% in principal
amount of the Securities of this series at the time Outstanding shall have made
written request to the Trustee to institute proceedings in respect of such
Event of Default as Trustee and offered the Trustee reasonable indemnity, and
the Trustee shall not have received from the Holders of a majority in principal
amount of Securities of this series at the time Outstanding a direction
inconsistent with such request, and shall have failed to institute any such
proceeding, for 60 days after receipt of such

                                     -23-
<PAGE>

notice, request and offer of indemnity. The foregoing shall not apply to any
suit instituted by the Holder of this Security for the enforcement of any
payment of principal hereof or any premium or interest hereon on or after the
respective due dates expressed herein.

         No reference herein to the Indenture and no provision of this Security
or of the Indenture shall alter or impair the obligation of the Company, which
is absolute and unconditional, to pay the principal of and any premium and
interest and other amounts due on this Security at the times, place and rate,
and in the coin or currency, herein prescribed.

         As provided in the Indenture and subject to certain limitations
therein set forth, the transfer of this Security is registrable in the Security
Register, upon surrender of this Security for registration of transfer at the
office or agency of the Company in any place where the principal of and any
premium and interest on this Security are payable, duly endorsed by, or
accompanied by a written instrument of transfer in form satisfactory to the
Company and the Security Registrar duly executed by, the Holder hereof or his
attorney duly authorized in writing, and thereupon one or more new Securities
of this series and of like tenor, of authorized denominations and for the same
aggregate principal amount, will be issued to the designated transferee or
transferees.

         The Securities of this series are issuable only in registered form
without coupons in denominations of $_________ and any integral multiple
thereof. As provided in the Indenture and subject to certain limitations
therein set forth, Securities of this series are exchangeable for a like
aggregate principal amount of Securities of this series and of like tenor of a
different authorized denomination, as requested by the Holder surrendering the
same.

         No service charge shall be made for any such registration of transfer
or exchange, but the Company may require payment of a sum sufficient to cover
any tax or other governmental charge payable in connection therewith.

         Prior to due presentment of this Security for registration of
transfer, the Company, the Guarantor, the Trustee and any agent of the Company,
the Guarantor or the Trustee may treat the Person in whose name this Security
is registered as the owner hereof for all purposes, whether or not this
Security be overdue, and neither the Company, the Guarantor, the Trustee nor
any such agent shall be affected by notice to the contrary.

                  All terms used in this Security that are defined in the
Indenture shall have the meanings assigned to them in the Indenture.

                                     -24-
<PAGE>

SECTION 204.   Form of Legend for Securities.

         Unless otherwise specified as contemplated by Section 301 for the
Securities evidenced thereby, every Security authenticated and delivered
hereunder shall bear one or more of the appropriate legends in substantially
the following forms:

         [If Security is a Restricted Security, insert -

         THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE UNITED STATES
SECURITIES ACT OF 1933 (THE "SECURITIES ACT") AND MAY NOT BE OFFERED, SOLD,
PLEDGED OR OTHERWISE TRANSFERRED EXCEPT (1) TO A PERSON WHO THE TRANSFEROR
REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER WITHIN THE MEANING OF
RULE 144A UNDER THE SECURITIES ACT ACQUIRING FOR ITS OWN ACCOUNT OR FOR THE
ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER IN A TRANSACTION MEETING THE
REQUIREMENTS OF RULE 144A, (2) IN AN OFFSHORE TRANSACTION MEETING THE
REQUIREMENTS OF RULE 903 OR RULE 904 OF REGULATION S UNDER THE SECURITIES ACT,
(3) PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT
PROVIDED BY RULE 144 THEREUNDER (IF AVAILABLE) OR (4) PURSUANT TO AN EFFECTIVE
REGISTRATION STATEMENT UNDER THE SECURITIES ACT, IN EACH CASE IN ACCORDANCE
WITH ALL APPLICABLE SECURITIES LAWS. THIS SECURITY AND ANY RELATED
DOCUMENTATION MAY BE AMENDED OR SUPPLEMENTED FROM TIME TO TIME TO MODIFY THE
RESTRICTIONS ON AND PROCEDURES FOR RESALES AND OTHER TRANSFERS OF THIS SECURITY
TO REFLECT ANY CHANGE IN APPLICABLE LAW OR REGULATION (OR THE INTERPRETATION
THEREOF) OR IN PRACTICES RELATING TO THE RESALE OR TRANSFER OF RESTRICTED
SECURITIES GENERALLY. THE HOLDER OF THIS SECURITY SHALL BE DEEMED, BY THE
ACCEPTANCE HEREOF, TO HAVE AGREED TO ANY SUCH AMENDMENT OR SUPPLEMENT. EACH
PURCHASER OF THIS SECURITY OR ANY INTEREST HEREIN IS HEREBY NOTIFIED THAT THE
SELLER OF THIS SECURITY MAY BE RELYING ON THE EXEMPTION FROM THE PROVISIONS OF
SECTION 5 OF THE SECURITIES ACT PROVIDED BY RULE 144A THEREUNDER.]

         [If the Security is a Regulation S Security, insert -

         THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF
1933 (THE "SECURITIES ACT") AND MAY NOT BE OFFERED, SOLD, OR DELIVERED IN THE
UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, ANY U.S. PERSON UNLESS
THIS SECURITY IS REGISTERED UNDER THE SECURITIES ACT OR AN EXEMPTION FROM THE
REGISTRATION REQUIREMENTS THEREOF IS AVAILABLE.]

         [If the Security is a Global Security, insert -

         THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE
HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A
NOMINEE THEREOF. THIS SECURITY MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A
SECURITY REGISTERED, AND NO TRANSFER OF THIS SECURITY IN WHOLE OR IN PART MAY
BE REGISTERED, IN THE NAME OF ANY

                                     -25-
<PAGE>

PERSON OTHER THAN SUCH DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED
CIRCUMSTANCES DESCRIBED IN THE INDENTURE.]

[If the Security is a Global Security and The Depository Trust Company is to be
the Depositary therefor, insert -

         UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE
OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION ("DTC"), TO THE ISSUER
OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY
CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER
NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS
MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR
OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER
HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]

SECTION 205.      Form of Trustee's Certificate of Authentication.

         The Trustee's certificates of authentication shall be in substantially
the following form:

         This is one of the Securities of the series designated therein
referred to in the within-mentioned Indenture.

                                                BANK ONE, NATIONAL ASSOCIATION,
                                                                     As Trustee

                                                By.............................
                                                             Authorized Officer

SECTION 206.      Form of Guarantee

                        GUARANTEE OF H. J. HEINZ COMPANY

         For value received, H. J. HEINZ COMPANY, a corporation duly organized
under the laws of the Commonwealth of Pennsylvania (the "Guarantor"), hereby
unconditionally and irrevocably guarantees (the "Guarantee") to and for the
benefit of the Holder of the Note (the "Note") upon which this Guarantee is
endorsed, being one of the o% Guaranteed Notes due o issued in aggregate
principal amount of o (the "Notes") of H. J. Heinz Finance Company, a
corporation duly organized under the laws of the State of Delaware (the
"Issuer"), all obligations of the Issuer under such Note and under the
Indenture with respect to such Note (the "Indenture"), including the due and
punctual payment of the principal of (and any amount payable upon redemption,
if any) and interest on, any additional interest in respect of and of all other
amounts (including interest on defaulted payments to the extent permitted by
law) payable in respect of, such Note, when and as the same shall become due
and payable, whether at stated maturity, by declaration of acceleration, call
for redemption, purchase or otherwise, according to the terms and conditions of
the Note and the Indenture. In the case of a failure of the Issuer punctually
to make

                                     -26-
<PAGE>

any such payment when and as the same shall become due and payable, the
Guarantor hereby agrees to cause such payment to be made at such time as if
such payment were made by the Issuer and according to the Terms and conditions
of such Note and the Indenture.

         The Guarantor hereby agrees that its obligations hereunder and under
the Indenture shall be as if it were principal obligor and not merely surety,
and shall be unconditional, irrespective of the validity, regularity or
enforceability of such Note or the Indenture or the absence of any action to
enforce the same; any creation, exchange, release or non-perfection of any lien
on any collateral for all or of any of the Notes; any election by or on behalf
of any of the Holders of the Notes in any proceeding, any borrowing or grant of
a security interest by the Issuer or the disallowance of all or any portion of
the claims of the Trustee or any of the Holders for payment of any of the Notes
under, or the application of any provision of, any applicable bankruptcy,
insolvency, suspension of payments, reorganization or other similar law; or any
waiver or consent by or on behalf of the Holder of such Note with respect to
any provisions thereof or of the Indenture, the obtaining of any judgment
against the Issuer or any action to enforce the same or any other circumstances
which might otherwise constitute a legal or equitable discharge or defense of a
guarantor.

         The Guarantor hereby waives the benefits of diligence, presentment or
demand of payment, any requirement that the Trustee or any of the Holders
protect, secure, perfect or insure any security interest in or other lien on
any property subject thereto or exhaust any right or take any action against
the Issuer or any other person or any collateral, any filing of claims with a
court in the event of insolvency or bankruptcy of the Issuer, any right to
require a proceeding first against the Issuer, protest or notice with respect
to such Note or the indebtedness evidenced thereby and all demands whatsoever,
and covenants that this Guarantee will not be discharged except by complete
performance of the obligations contained in such Note and in this Guarantee.
The Guarantor hereby agrees that, in the event of a default in payment of
principal of (or any amount payable upon redemption, if any) or interest on
such Note or of any Special Interest or other amount (including such Special
Interest) in respect of such Note, whether at stated maturity, by acceleration,
call for redemption, purchase or otherwise, legal proceedings may be instituted
by or on behalf of the Holder of such Note directly against the Guarantor to
enforce this Guarantee without first proceeding against the Issuer. The
Guarantor agrees that if, after the occurrence and during the continuance of an
event of default applicable to the Notes, any of the Holders, or any
representatives thereof, are prevented by applicable law from exercising their
respective rights to accelerate the maturity of the Notes, to collect interest
on the Notes or to enforce or exercise any other right or remedy with respect
to the Notes, the Guarantor shall pay to the Trustee for the account of the
Holders, upon demand therefor, the amount that would otherwise have been due
and payable had such rights and remedies been permitted to be exercised by any
of the Holders or their representatives.

         The Guarantor hereby irrevocably waives (i) any right to which it may
be entitled in connection with any obligation to sue the Issuer prior to a
claim being made against the Guarantor hereunder and (ii) any right to which it
may be entitled to have the assets of the Issuer first be used as payment of
the Issuer's or the Guarantor's obligations under the Note or this Guarantee,
respectively, prior to any amounts being claimed from or paid by the Guarantor
hereunder.

         This Guarantee shall remain in full force and effect and continue to
be effective should any petition be filed by or against the Issuer in
bankruptcy or for liquidation or reorganization, should the Issuer become
insolvent or make an assignment for the benefit of creditors or should a

                                     -27-
<PAGE>

receiver or trustee be appointed for all or any significant part of the
Issuer's assets, and shall, to the fullest extent permitted by law, continue to
be effective or be reinstated, as the case may be, if at any time payment and
performance of the Notes is, pursuant to applicable law, rescinded or reduced
in amount, or must otherwise be restored or returned by any obligee on the
Notes, whether as a "voidable preference," "fraudulent transfer" or otherwise,
all as though such payment or performance had not been made. In the event that
any payment, or any part thereof, is rescinded, reduced, restored or returned,
the Notes shall, to the fullest extent permitted by law, be reinstated and
deemed reduced only by such amount paid and not so rescinded, reduced, restored
or returned.

         No reference herein to the Indenture and no provision of this
Guarantee or of the Indenture shall alter or impair the Guarantee of the
Guarantor, which is absolute and unconditional, of the due and punctual payment
of the principal (and any amount payable upon redemption, if any) and interest
on, and of all Special Interest and other amounts (including as aforesaid)
payable in respect of the Note upon which this Guarantee is endorsed.

         The Guarantor shall be subrogated to all rights of the Holder of such
Note against the Issuer in respect of any amounts paid by the Guarantor on
account of such Note pursuant to the provisions of this Guarantee or the
Indenture; provided, however, that the Guarantor shall not be entitled to
enforce or to receive any payments arising out of, or based upon, such right of
subrogation until the principal of (and any amount payable upon redemption, if
any) and interest on, and of all Special Interest and other amounts (including
as aforesaid) payable in respect of, such Note and all the other Notes shall
have been irrevocably paid in full.

         The Guarantor agrees to pay to the Holder of the Note upon which this
Guarantee is endorsed on demand all reasonable out-of--pocket expenses
(including reasonable fees and expenses of counsel) incurred by such Holder
that in any way relate to the enforcement of the rights of such Holder under
this Guarantee; provided that the Guarantor shall not be liable for any such
expenses if (i) no payment under this Guarantee is due or (ii) the Guarantor
shall not have received such documentation of such expenses as it may
reasonably require.

         The Guarantor hereby makes, for the benefit of the Holder of the Note
upon which this Guarantee is endorsed, the covenants and agreements applicable
to it set forth in the Indenture, all of which shall be enforceable by the
Holder of such Security, subject to the Terms and conditions and the terms of
the Indenture, directly against the Guarantor.

         This Guarantee shall not be valid or obligatory for any purpose until
the certificate of authentication on the Note upon which this Guarantee is
endorsed shall have been executed by the Trustee (or an authenticating agent)
under the Indenture.

         All capitalized terms used in this Guarantee shall have the meanings
assigned to them in the Note upon which this Guarantee is endorsed or in the
Indenture referred to in such Security.

         This Guarantee shall be governed by and construed in accordance with
the laws of the State of New York, without regard to the conflicts of laws
principles thereof.

                                     -28-
<PAGE>

         IN WITNESS WHEREOF, the Guarantor has caused this Guarantee to be duly
executed and its corporate seal to be affixed hereto.

                                                            H. J. HEINZ COMPANY
                                                                   As Guarantor

                                           By: ................................

                                 ARTICLE THREE
                                 THE SECURITIES

SECTION 301.      Amount Unlimited; Issuable in Series.

         The aggregate principal amount of Securities that may be authenticated
and delivered under this Indenture is unlimited.

         The Securities may be issued in one or more series. There shall be
established in or pursuant to a Board Resolution and, subject to Section 303,
set forth, or determined in the manner provided, in an Officer's Certificate,
or established in one or more indentures supplemental hereto, prior to the
issuance of Securities of any series,

         (1) the title of the Securities of the series (which shall
         distinguish the Securities of the series from Securities of any other
         series);

         (2) any limit upon the aggregate principal amount of the Securities of
         the series which may be authenticated and delivered under this
         Indenture (except for Securities authenticated and delivered upon
         registration of transfer of, or in exchange for, or in lieu of, other
         Securities of the series pursuant to Section 304, 305, 306, 906 or
         1107 and except for any Securities which, pursuant to Section 303, are
         deemed never to have been authenticated and delivered hereunder);

         (3) the Person to whom any interest on a Security of the series shall
         be payable, if other than the Person in whose name that Security (or
         one or more Predecessor Securities) is registered at the close of
         business on the Regular Record Date for such interest;

         (4) the date or dates on which the principal of any Securities of the
         series is payable;

         (5) the rate or rates at which any Securities of the series shall bear
         interest, if any, the date or dates from which any such interest shall
         accrue, the Interest Payment Dates on which any such interest shall be
         payable and the Regular Record Date for any such interest payable on
         any Interest Payment Date;

         (6) the place or places where the principal of and any premium and
         interest on any Securities of the series shall be payable;

                                     -29-
<PAGE>

         (7) the period or periods within which, the price or prices at which
         and the terms and conditions upon which any Securities of the series
         may be redeemed, in whole or in part, at the option of the Company
         and, if other than by a Board Resolution, the manner in which any
         election by the Company to redeem the Securities shall be evidenced;

         (8) the obligation, if any, of the Company to redeem or purchase any
         Securities of the series pursuant to any sinking fund or analogous
         provisions or at the option of the Holder thereof or at the option of
         any remarketing dealer and the period or periods within which, the
         price or prices at which and the terms and conditions upon which any
         Securities of the series shall be redeemed or purchased, in whole or
         in part, pursuant to such obligation;

         (9) if other than denominations of $1,000 and any integral multiple
         thereof, the denominations in which any Securities of the series shall
         be issuable;

         (10) if the amount of principal of or any premium or interest on any
         Securities of the series may be determined with reference to an index
         or pursuant to a formula, the manner in which such amounts shall be
         determined;

         (11) if other than the currency of the United States of America, the
         currency, currencies or currency units in which the principal of or
         any premium or interest on any Securities of the series shall be
         payable and the manner of determining the equivalent thereof in the
         currency of the United States of America for any purpose, including
         for purposes of the definition of "Outstanding" in Section 101;

         (12) if the principal of or any premium or interest on any Securities
         of the series is to be payable, at the election of the Company or the
         Holder thereof, in one or more currencies or currency units other than
         that or those in which such Securities are stated to be payable, the
         currency, currencies or currency units in which the principal of or
         any premium or interest on such Securities as to which such election
         is made shall be payable, the periods within which and the terms and
         conditions upon which such election is to be made and the amount so
         payable (or the manner in which such amount shall be determined);

         (13) if other than the entire principal amount thereof, the portion of
         the principal amount of any Securities of the series which shall be
         payable upon declaration of acceleration of the Maturity thereof
         pursuant to Section 502;

         (14) if the principal amount payable at the Stated Maturity of any
         Securities of the series will not be determinable as of any one or
         more dates prior to the Stated Maturity, the amount which shall be
         deemed to be the principal amount of such Securities as of any such
         date for any purpose thereunder or hereunder, including the principal
         amount thereof which shall be due and payable upon any Maturity other
         than the Stated Maturity or which shall be deemed to be Outstanding as
         of any date prior to the Stated Maturity (or, in any such case, the
         manner in which such amount deemed to be the principal amount shall be
         determined);

         (15) if applicable, that any Securities of the series shall be
         issuable in whole or in part in the form of one or more Global
         Securities and, in such case, the respective

                                     -30-
<PAGE>

         Depositaries for such Global Securities, the form of any legend or
         legends which shall be borne by any such Global Security in addition
         to or in lieu of that set forth in Section 204 and any circumstances
         in addition to or in lieu of those set forth in Clause (2) of the last
         paragraph of Section 305(a) in which any such Global Security may be
         exchanged in whole or in part for Securities registered, and any
         transfer of such Global Security in whole or in part may be
         registered, in the name or names of Persons other than the Depositary
         for such Global Security or a nominee thereof;

         (16) any addition to or change in the Events of Default which applies
         to any Securities of the series and any change in the right of the
         Trustee or the requisite Holders of such Securities to declare the
         principal amount thereof due and payable pursuant to Section 502;

         (17) any addition to or change in the covenants set forth in Article
         Ten which applies to Securities of the series; and

         (18) any other terms of the series (which terms shall not be
         inconsistent with the provisions of this Indenture, except as
         permitted by Section 901(5)).

         All Securities of any one series shall be substantially identical
except as to denomination and except as may otherwise be provided in or
pursuant to the Board Resolution referred to above and (subject to Section 303)
set forth, or determined in the manner provided, in the Officer's Certificate
referred to above or in any such indenture supplemental hereto.

         If any of the terms of the series are established by action taken
pursuant to a Board Resolution, a copy of an appropriate record of such action
shall be certified by the Secretary or an Assistant Secretary of the Company
and delivered to the Trustee at or prior to the delivery of the Officer's
Certificate setting forth the terms of the series.

SECTION 302.      Denominations.

         The Securities of each series shall be issuable only in registered
form without coupons and only in such denominations as shall be specified as
contemplated by Section 301. In the absence of any such specified denomination
with respect to the Securities of any series, the Securities of such series
shall be issuable in denominations of $1,000 and any integral multiple thereof.

SECTION 303.      Execution, Authentication, Delivery and Dating.

         The Securities shall be executed on behalf of the Company by its
Chairman of the Board, a Vice Chairman of the Board, its President, a Vice
President, or its Treasurer under its corporate seal reproduced thereon
attested by its Secretary or one of its Assistant Secretaries. The signature of
any of these officers on the Securities may be manual or facsimile.

         Securities bearing the manual or facsimile signatures of individuals
who were at any time the proper officers of the Company shall bind the Company,
notwithstanding that such individuals or any of them have ceased to hold such
offices prior to the authentication and delivery of such Securities or did not
hold such offices at the date of such Securities.

                                     -31-
<PAGE>

         At any time and from time to time after the execution and delivery of
this Indenture, the Company may deliver Securities of any series executed by
the Company and the Guarantor to the Trustee for authentication, together with
a Company Order for the authentication and delivery of such Securities, and the
Trustee in accordance with the Company Order shall authenticate and deliver
such Securities. If the form or terms of the Securities of the series have been
established by or pursuant to one or more Board Resolutions as permitted by
Sections 201 and 301, in authenticating such Securities, and accepting the
additional responsibilities under this Indenture in relation to such
Securities, the Trustee shall be entitled to receive, and (subject to Section
601) shall be fully protected in relying upon, an Opinion of Counsel stating,

         (1) if the form of such Securities has been established by or pursuant
         to Board Resolution as permitted by Section 201, that such form has
         been established in conformity with the provisions of this Indenture;

         (2) if the terms of such Securities have been established by or
         pursuant to Board Resolution as permitted by Section 301, that such
         terms have been established in conformity with the provisions of this
         Indenture; and

         (3) that such Securities, when authenticated and delivered by the
         Trustee and issued by the Company in the manner and subject to any
         conditions specified in such Opinion of Counsel, will constitute valid
         and legally binding obligations of the Company and the Guarantor
         enforceable in accordance with their terms, subject to bankruptcy,
         insolvency, fraudulent transfer, reorganization, moratorium and
         similar laws of general applicability relating to or affecting
         creditors' rights and to general equity principles.

If such form or terms have been so established, the Trustee shall not be
required to authenticate such Securities if the issue of such Securities
pursuant to this Indenture will affect the Trustee's own rights, duties or
immunities under the Securities and this Indenture or otherwise in a manner
which is not reasonably acceptable to the Trustee.

         Notwithstanding the provisions of Section 301 and of the preceding
paragraph, if all Securities of a series are not to be originally issued at one
time, it shall not be necessary to deliver the Officer's Certificate otherwise
required pursuant to Section 301 or the Company Order and Opinion of Counsel
otherwise required pursuant to such preceding paragraph at or prior to the
authentication of each Security of such series if such documents are delivered
at or prior to the authentication upon original issuance of the first Security
of such series to be issued.

         Each Security shall be dated the date of its authentication.

         No Security shall be entitled to any benefit under this Indenture or
be valid or obligatory for any purpose unless there appears on such Security a
certificate of authentication substantially in the form provided for herein
executed by the Trustee by manual signature, and such certificate upon any
Security shall be conclusive evidence, and the only evidence, that such
Security has been duly authenticated and delivered hereunder. Notwithstanding
the foregoing, if any Security shall have been authenticated and delivered
hereunder but never issued and sold by the Company, and the Company shall
deliver such Security to the Trustee for cancellation as provided in Section
309, for all purposes of this Indenture such Security shall be deemed never to
have been authenticated and delivered hereunder and shall never be entitled to
the benefits of this Indenture.

                                     -32-
<PAGE>

SECTION 304.      Temporary Securities.

         Pending the preparation of definitive Securities of any series, the
Company and the Guarantor may execute, and upon Company Order the Trustee shall
authenticate and deliver, temporary Securities which are printed, lithographed,
typewritten, mimeographed or otherwise produced, in any authorized
denomination, substantially of the tenor of the definitive Securities in lieu
of which they are issued and with such appropriate insertions, omissions,
substitutions and other variations as the officers executing such Securities
may determine, as evidenced by their execution of such Securities.

         If temporary Securities of any series are issued, the Company will
cause definitive Securities of that series to be prepared without unreasonable
delay. After the preparation of definitive Securities of such series, the
temporary Securities of such series shall be exchangeable for definitive
Securities of such series upon surrender of the temporary Securities of such
series at the office or agency of the Company in a Place of Payment for that
series, without charge to the Holder. Upon surrender for cancellation of any
one or more temporary Securities of any series, the Company and the Guarantor
shall execute and the Trustee shall authenticate and deliver in exchange
therefor one or more definitive Securities of the same series, of any
authorized denominations and of like tenor and aggregate principal amount.
Until so exchanged, the temporary Securities of any series shall in all
respects be entitled to the same benefits under this Indenture as definitive
Securities of such series and tenor.

SECTION 305.      Registration, Registration of Transfer and Exchange; Certain
                  Transfers and Exchanges.

         (a) Registration of Transfer and Exchange Generally. The Company shall
cause to be kept at the Corporate Trust Office of the Trustee a register (the
register maintained in such office and in any other office or agency of the
Company in a Place of Payment being herein sometimes collectively referred to
as the "Security Register") in which, subject to such reasonable regulations as
it may prescribe, the Company shall provide for the registration of Securities
and of transfers of Securities. The Trustee is hereby appointed "Security
Registrar" for the purpose of registering Securities and transfers of
Securities as herein provided.

         Upon surrender for registration of transfer of any Security of a
series at the office or agency of the Company in a Place of Payment for that
series, the Company and the Guarantor shall execute, and the Trustee shall
authenticate and deliver, in the name of the designated transferee or
transferees, one or more new Securities of the same series, of any authorized
denominations and of like tenor and aggregate principal amount.

         At the option of the Holder, Securities of any series may be exchanged
for other Securities of the same series, of any authorized denominations and of
like tenor and aggregate principal amount, upon surrender of the Securities to
be exchanged at such office or agency. Whenever any Securities are so
surrendered for exchange, the Company and the Guarantor shall execute, and the
Trustee shall authenticate and deliver, the Securities which the Holder making
the exchange is entitled to receive.

         All Securities issued upon any registration of transfer or exchange of
Securities shall be the valid obligations of the Company, evidencing the same
debt, and entitled to the same benefits under this Indenture, as the Securities
surrendered upon such registration of transfer or exchange.

                                     -33-
<PAGE>

         Every Security presented or surrendered for registration of transfer
or for exchange shall (if so required by the Company or the Trustee) be duly
endorsed, or be accompanied by a written instrument of transfer in form
satisfactory to the Company and the Security Registrar duly executed, by the
Holder thereof or his attorney duly authorized in writing.

         No service charge shall be made for any registration of transfer or
exchange of Securities, but the Company may require payment of a sum sufficient
to cover any tax or other governmental charge that may be imposed in connection
with any registration of transfer or exchange of Securities, other than
exchanges pursuant to Section 304, 906 or 1107 not involving any transfer.

         If the Securities of any series (or of any series and specified tenor)
are to be redeemed in part, the Company shall not be required (A) to issue,
register the transfer of or exchange any Securities of that series (or of that
series and specified tenor, as the case may be) during a period beginning at
the opening of business 15 days before the day of the mailing of a notice of
redemption of any such Securities selected for redemption under Section 1103
and ending at the close of business on the day of such mailing, or (B) to
register the transfer of or exchange any Security so selected for redemption in
whole or in part, except the unredeemed portion of any Security being redeemed
in part.

         The provisions of Clauses (1), (2), (3) and (4) below shall apply only
to Global Securities:

         (1) Each Global Security authenticated under this Indenture shall be
         registered in the name of the Depositary designated for such Global
         Security or a nominee thereof and delivered to such Depositary or a
         nominee thereof or custodian therefor, and each such Global Security
         shall constitute a single Security for all purposes of this Indenture.

         (2) Notwithstanding any other provision in this Indenture, no Global
         Security may be exchanged in whole or in part for Securities
         registered, and no transfer of a Global Security in whole or in part
         may be registered, in the name of any Person other than the Depositary
         for such Global Security or a nominee thereof unless (A) such
         Depositary (i) has notified the Company that it is unwilling or unable
         to continue as Depositary for such Global Security or (ii) has ceased
         to be a clearing agency registered under the Exchange Act, (B) there
         shall have occurred and be continuing an Event of Default with respect
         to such Global Security or (C) there shall exist such circumstances,
         if any, in addition to or in lieu of the foregoing as have been
         specified for this purpose as contemplated by Section 301.

         (3) Subject to Clause (2) above, any exchange of a Global Security for
         other Securities may be made in whole or in part, and all Securities
         issued in exchange for a Global Security or any portion thereof shall
         be registered in such names as the Depositary for such Global Security
         shall direct.

         (4) Every Security authenticated and delivered upon registration of
         transfer of, or in exchange for or in lieu of, a Global Security or
         any portion thereof, whether pursuant to this Section, Section 304,
         306, 906 or 1107 or otherwise, shall be authenticated and delivered in
         the form of, and shall be, a Global Security, unless such Security is
         registered in the name of a Person other than the Depositary for such
         Global Security or a nominee thereof.

                                     -34-
<PAGE>

         (b) Certain Transfers and Exchanges. Notwithstanding any other
provision of this Indenture or the Securities, transfers and exchanges of
Securities and beneficial interests in a Global Security of the kinds specified
in this Section 305(b) shall be made only in accordance with this Section
305(b).

         (i) Restricted Global Security to Regulation S Global Security. If the
owner of a beneficial interest in a Restricted Global Security wishes at any
time to transfer such interest to a Person who wishes to acquire the same in
the form of a beneficial interest in a Regulation S Global Security, such
transfer may be effected only in accordance with the provisions of this Clause
(b)(i) and Clause (b)(iv) below and subject to the Applicable Procedures. Upon
receipt by the Security Registrar of (A) an order given by the Depositary or
its authorized representative directing that a beneficial interest in the
Regulation S Global Security in a specified principal amount be credited to a
specified Agent Member's account and that a beneficial interest in the
Restricted Global Security in an equal principal amount be debited from another
specified Agent Member's account and (B) a Regulation S Certificate,
satisfactory to the Security Registrar and the Trustee and duly executed by the
owner of such beneficial interest in the Restricted Global Security or his
attorney duly authorized in writing, then the Security Registrar, subject to
Clause (b)(iv) below, shall reduce the principal amount of the Restricted
Global Security and increase the principal amount of the Regulation S Global
Security by such specified principal amount.

         (ii) Regulation S Global Security to Restricted Global Security. If
the owner of a beneficial interest in a Regulation S Global Security wishes at
any time to transfer such interest to a Person who wishes to acquire the same
in the form of a beneficial interest in a Restricted Global Security, such
transfer may be effected only in accordance with this Clause (b)(ii) and
subject to the Applicable Procedures. Upon receipt by the Security Registrar of
(A) an order given by the Depositary or its authorized representative directing
that a beneficial interest in the Restricted Global Security in a specified
principal amount be credited to a specified Agent Member's account and that a
beneficial interest in the Regulation S Global Security in an equal principal
amount be debited from another specified Agent Member's account and (B) if such
transfer is to occur during a Restricted Period, a Restricted Securities
Certificate, satisfactory to the Security Registrar and the Trustee and duly
executed by the owner of such beneficial interest in the Regulation S Global
Security or his attorney duly authorized in writing, then the Security
Registrar shall reduce the principal amount of the Regulation S Global Security
and increase the principal amount of the Restricted Global Security by such
specified principal amount. If transfers under this Clause (b)(ii) occur after
a Restricted Period, no Restricted Securities Certificates will be required.

         (iii) Non-Global Security to Non-Global Security. A Security that is
not a Global Security may be transferred, in whole or in part, to a Person who
takes delivery in the form of another Security that is not a Global Security as
provided in Section 305(a), provided that, if the Security to be transferred in
whole or in part is a Restricted Security, then the Security Registrar shall
have received a Restricted Securities Certificate, satisfactory to the Security
Registrar and the Trustee and duly executed by the transferor Holder of his
attorney duly authorized in writing, in which case the transferee Holder shall
take delivery in the form of a Restricted Security (subject in every case to
Section 305(c)).

         (iv) Regulation S Global Security to be Held Through Euroclear or
Clearstream during Restricted Period. The Company shall use its best efforts to
cause the Depositary to ensure that

                                     -35-
<PAGE>

beneficial interests in a Regulation S Global Security may be held only in or
through accounts maintained at the Depositary by Euroclear or Clearstream (or
by Agent Members acting for the account thereof), and no person shall be
entitled to effect any transfer or exchange that would result in any such
interest being held otherwise than in or through such an account, provided that
this Clause (b)(iv) shall not prohibit any transfer or exchange of such an
interest in accordance with Clause (b)(ii) above.

         (v) Restricted Non-Global Security to Restricted Global Security or
Regulation S Global Security. If the Holder of a Restricted Security (other
than a Global Security) wishes at any time to transfer all or any portion of
such Security to a Person who wishes to take delivery thereof in the form of a
beneficial interest in a Restricted Global Security or a Regulation S Global
Security, such transfer may be effected only in accordance with the provisions
of this Clause (b)(v) and Clause (b)(iv) above and subject to the Applicable
Procedures. Upon receipt by the Security Registrar of (A) such Security as
provided in Section 305(a) and instructions satisfactory to the Security
Registrar and the Trustee directing that a beneficial interest in a Restricted
Global Security or Regulation S Global Security in a specified principal amount
not greater than the principal amount of such Security be credited to a
specified Agent Member's account and (B) a Restricted Securities Certificate,
if the specified account is to be credited with a beneficial interest in a
Restricted Global Security, or a Regulation S Certificate, if the specified
account is to be credited with a beneficial interest in a Regulation S Global
Security, in either case satisfactory to the Security Registrar and the Trustee
and duly executed by such Holder or his attorney duly authorized in writing,
then the Security Registrar, subject to Clause (b)(iv) above, shall cancel such
Security (and issue a new Security in respect of any untransferred portion
thereof) and increase the principal amount of the Restricted Global Security or
the Regulation S Global Security, as the case may be, by the specified
principal amount, both as provided in Section 305(a).

         (c) Securities Act Legends. Restricted Securities and their Successor
Securities shall bear a Restricted Securities Legend, and Regulation S
Securities and their Successor Securities shall bear a Regulation S Legend,
subject to the following:

         (i) subject to the following Clauses of this Section 305(c), a
Security or any portion thereof which is exchanged, upon transfer or otherwise,
for a Global Security or any portion thereof shall bear the Securities Act
Legend borne by such Global Security while represented thereby;

         (ii) subject to the following Clauses of this Section 305(c), a new
Security which is not a Global Security and is issued in exchange for another
Security (including a Global Security) or any portion thereof, upon transfer or
otherwise, shall bear the Securities Act Legend borne by such other Security,
provided, that, if such new Security is required pursuant to Section 305(b)(v)
to be issued in the form of a Restricted Security, it shall bear a Restricted
Securities Legend and, if such new Security is so required to be issued in the
form of a Regulation S Security, it shall bear a Regulation S Legend;

         (iii) at any time after the Securities may be freely transferred
without registration under the Securities Act or without being subject to
transfer restrictions pursuant to the Securities Act, a new Security which does
not bear a Securities Act Legend may be issued in exchange for or in lieu of a
Security (other than a Global Security) or any portion thereof which bears such
a legend if the Security Registrar has received an Unrestricted Securities
Certificate, satisfactory to the

                                     -36-
<PAGE>

Security Registrar and Trustee and duly executed by the Holder of such legended
Security or his attorney duly authorized in writing, and after such date and
receipt of such certificate, the Trustee shall authenticate and deliver such a
new Security in exchange for or in lieu of such other Security as provided in
this Article Three;

         (iv) a new Security which does not bear a Securities Act Legend may be
issued in exchange for or in lieu of a Security (other than a Global Security)
or any portion thereof which bears such a legend if, in the Company's judgment,
placing such a legend upon such new Security is not necessary to ensure
compliance with the registration requirements of the Securities Act, and the
Trustee, at the direction of the Company, shall authenticate and deliver such a
new Security as provided in this Article Three; and

         (v) notwithstanding the foregoing provisions of this Section 305(c), a
Successor Security of a Security that does not bear a particular form of
Securities Act Legend shall not bear such form of legend unless the Company has
reasonable cause to believe that such Successor Security is a "restricted
security" within the meaning of Rule 144, in which case the Trustee, at the
direction of the Company, shall authenticate and deliver a new Security bearing
a Restricted Securities Legend in exchange for such Successor Security as
provided in this Article Three.

SECTION 306.      Mutilated, Destroyed, Lost and Stolen Securities.

         If any mutilated Security is surrendered to the Trustee, the Company
shall execute and the Trustee shall authenticate and deliver in exchange
therefor a new Security of the same series and of like tenor and principal
amount and bearing a number not contemporaneously outstanding.

         If there shall be delivered to the Company and the Trustee (i)
evidence to their satisfaction of the destruction, loss or theft of any
Security and (ii) such security or indemnity as may be required by them to save
each of them and any agent of either of them harmless, then, in the absence of
notice to the Company or the Trustee that such Security has been acquired by a
bona fide purchaser, the Company shall execute and the Trustee shall
authenticate and deliver, in lieu of any such destroyed, lost or stolen
Security, a new Security of the same series and of like tenor and principal
amount and bearing a number not contemporaneously outstanding.

         In case any such mutilated, destroyed, lost or stolen Security has
become or is about to become due and payable, the Company in its discretion
may, instead of issuing a new Security, pay such Security.

         Upon the issuance of any new Security under this Section, the Company
may require the payment of a sum sufficient to cover any tax or other
governmental charge that may be imposed in relation thereto and any other
expenses (including the fees and expenses of the Trustee) connected therewith.

         Every new Security of any series issued pursuant to this Section in
lieu of any destroyed, lost or stolen Security shall constitute an original
additional contractual obligation of the Company, whether or not the destroyed,
lost or stolen Security shall be at any time enforceable by anyone, and shall
be entitled to all the benefits of this Indenture equally and proportionately
with any and all other Securities of that series duly issued hereunder.

                                     -37-
<PAGE>

         The provisions of this Section are exclusive and shall preclude (to
the extent lawful) all other rights and remedies with respect to the
replacement or payment of mutilated, destroyed, lost or stolen Securities.

SECTION 307.      Payment of Interest; Interest Rights Preserved.

         Except as otherwise provided as contemplated by Section 301 with
respect to any series of Securities, interest (including any Special Interest)
on any Security which is payable, and is punctually paid or duly provided for,
on any Interest Payment Date shall be paid to the Person in whose name that
Security (or one or more Predecessor Securities) is registered at the close of
business on the Regular Record Date for such interest.

         Any interest on any Security of any series which is payable, but is
not punctually paid or duly provided for, on any Interest Payment Date (herein
called "Defaulted Interest") shall forthwith cease to be payable to the Holder
on the relevant Regular Record Date by virtue of having been such Holder, and
such Defaulted Interest may be paid by the Company, at its election in each
case, as provided in Clause (1) or (2) below:

         (1) The Company may elect to make payment of any Defaulted Interest to
         the Persons in whose names the Securities of such series (or their
         respective Predecessor Securities) are registered at the close of
         business on a Special Record Date for the payment of such Defaulted
         Interest, which shall be fixed in the following manner. The Company
         shall notify the Trustee in writing of the amount of Defaulted
         Interest proposed to be paid on each Security of such series and the
         date of the proposed payment, and at the same time the Company shall
         deposit with the Trustee an amount of money equal to the aggregate
         amount proposed to be paid in respect of such Defaulted Interest or
         shall make arrangements satisfactory to the Trustee for such deposit
         prior to the date of the proposed payment, such money when deposited
         to be held in trust for the benefit of the Persons entitled to such
         Defaulted Interest as in this Clause provided. Thereupon the Trustee
         shall fix a Special Record Date for the payment of such Defaulted
         Interest which shall be not more than 15 days and not less than 10
         days prior to the date of the proposed payment and not less than 10
         days after the receipt by the Trustee of the notice of the proposed
         payment. The Trustee shall promptly notify the Company of such Special
         Record Date and, in the name and at the expense of the Company, shall
         cause notice of the proposed payment of such Defaulted Interest and
         the Special Record Date therefor to be given to each Holder of
         Securities of such series in the manner set forth in Section 106, not
         less than 10 days prior to such Special Record Date. Notice of the
         proposed payment of such Defaulted Interest and the Special Record
         Date therefor having been so mailed, such Defaulted Interest shall be
         paid to the Persons in whose names the Securities of such series (or
         their respective Predecessor Securities) are registered at the close
         of business on such Special Record Date and shall no longer be payable
         pursuant to the following Clause (2).

         (2) The Company may make payment of any Defaulted Interest on the
         Securities of any series in any other lawful manner not inconsistent
         with the requirements of any securities exchange on which such
         Securities may be listed, and upon such notice as may be required by
         such exchange, if, after notice given by the Company to the Trustee of
         the proposed payment pursuant to this Clause, such manner of payment
         shall be deemed practicable by the Trustee.

                                     -38-
<PAGE>

         Subject to the foregoing provisions of this Section, each Security
delivered under this Indenture upon registration of transfer of or in exchange
for or in lieu of any other Security shall carry the rights to interest accrued
and unpaid, and to accrue, which were carried by such other Security.

SECTION 308.      Persons Deemed Owners.

         Prior to due presentment of a Security for registration of transfer,
the Company, the Guarantor, the Trustee and any agent of the Company, or the
Trustee may treat the Person in whose name such Security is registered as the
owner of such Security for the purpose of receiving payment of principal of and
any premium and (subject to Section 307) any interest on such Security and for
all other purposes whatsoever, whether or not such Security be overdue, and
neither the Company, the Guarantor, the Trustee nor any agent of the Company,
the Guarantor or the Trustee shall be affected by notice to the contrary.

SECTION 309.      Cancellation.

         All Securities surrendered for payment, redemption, registration of
transfer or exchange or for credit against any sinking fund payment shall, if
surrendered to any Person other than the Trustee, be delivered to the Trustee
and shall be promptly cancelled by it. The Company may at any time deliver to
the Trustee for cancellation any Securities previously authenticated and
delivered hereunder which the Company may have acquired in any manner
whatsoever, and may deliver to the Trustee (or to any other Person for delivery
to the Trustee) for cancellation any Securities previously authenticated
hereunder which the Company has not issued and sold, and all Securities so
delivered shall be promptly cancelled by the Trustee. No Securities shall be
authenticated in lieu of or in exchange for any Securities cancelled as
provided in this Section, except as expressly permitted by this Indenture. All
cancelled Securities held by the Trustee shall be disposed of as directed by a
Company Order.

SECTION 310.      Computation of Interest.

         Except as otherwise specified as contemplated by Section 301 for
Securities of any series, interest on the Securities of each series shall be
computed on the basis of a 360-day year of twelve 30-day months.

                                 ARTICLE FOUR
                           SATISFACTION AND DISCHARGE

SECTION 401.      Satisfaction and Discharge of Indenture.

         This Indenture shall upon Company Request cease to be of further
effect (except as to any surviving rights of registration of transfer or
exchange of Securities herein expressly provided for), and the Trustee, at the
expense of the Company, shall execute proper instruments acknowledging
satisfaction and discharge of this Indenture, when

         (1) either

                   (A) all Securities theretofore authenticated and delivered
              (other than (i) Securities which have been destroyed, lost or
              stolen and which have been replaced

                                     -39-
<PAGE>

              or paid as provided in Section 306 and (ii) Securities for whose
              payment money has theretofore been deposited in trust or
              segregated and held in trust by the Company and thereafter
              repaid to the Company or discharged from such trust, as provided
              in Section 1003) have been delivered to the Trustee for
              cancellation; or

                  (B)      all such Securities not theretofore delivered to
              the Trustee for cancellation

                   (i)     have become due and payable, or

                   (ii)    will become due and payable at their Stated Maturity
              within one year, or

                   (iii) are to be called for redemption within one year under
              arrangements satisfactory to the Trustee for the giving of notice
              of redemption by the Trustee in the name, and at the expense, of
              the Company,

         and the Company or the Guarantor, in the case of (i), (ii) or (iii)
         above, has deposited or caused to be deposited with the Trustee as
         trust funds in trust for the purpose money in an amount sufficient to
         pay and discharge the entire indebtedness on such Securities not
         theretofore delivered to the Trustee for cancellation, for principal
         and any premium and interest to the date of such deposit (in the case
         of Securities which have become due and payable) or to the Stated
         Maturity or Redemption Date, as the case may be;

         (2) the Company or the Guarantor has paid or caused to be paid all
         other sums payable hereunder by the Company and the Guarantor; and

         (3) the Company has delivered to the Trustee an Officer's Certificate
         and an Opinion of Counsel, each stating that all conditions precedent
         herein provided for relating to the satisfaction and discharge of this
         Indenture have been complied with.

         Notwithstanding the satisfaction and discharge of this Indenture, the
obligations of the Company to the Trustee under Section 607, the obligations of
the Trustee to any Authenticating Agent under Section 614 and, if money shall
have been deposited with the Trustee pursuant to subclause (B) of Clause (1) of
this Section, the obligations of the Trustee under Section 402 and the last
paragraph of Section 1003 shall survive.

SECTION 402.      Application of Trust Money.

         Subject to the provisions of the last paragraph of Section 1003, all
money deposited with the Trustee pursuant to Section 401 shall be held in trust
and applied by it, in accordance with the provisions of the Securities and this
Indenture, to the payment, either directly or through any Paying Agent
(including the Company acting as its own Paying Agent) as the Trustee may
determine, to the Persons entitled thereto, of the principal and any premium
and interest for whose payment such money has been deposited with the Trustee.

                                     -40-
<PAGE>

                                 ARTICLE FIVE
                                    remedies

SECTION 501.      Events of Default.

          "Event of Default", wherever used herein with respect to Securities
of any series, means any one of the following events (whatever the reason for
such Event of Default and whether it shall be voluntary or involuntary or be
effected by operation of law or pursuant to any judgment, decree or order of
any court or any order, rule or regulation of any administrative or
governmental body):

         (1) default in the payment of any interest upon any Security of that
         series when it becomes due and payable, and continuance of such
         default for a period of 30 days; or

         (2) default in the payment of the principal of or any premium on any
         Security of that series at its Maturity; or

         (3) default in the deposit of any sinking fund payment, when and as
         due by the terms of a Security of that series; or

         (4) default in the performance, or breach, of any covenant or warranty
         of the Company or the Guarantor in this Indenture (other than a
         covenant or warranty a default in whose performance or whose breach is
         elsewhere in this Section specifically dealt with or which has
         expressly been included in this Indenture solely for the benefit of
         series of Securities other than that series), and continuance of such
         default or breach for a period of 90 days after there has been given,
         by registered or certified mail, to the Company or the Guarantor, as
         the case may be, by the Trustee or to the Company or the Guarantor, as
         the case may be, and the Trustee by the Holders of at least 25% in
         principal amount of the Outstanding Securities of that series a
         written notice specifying such default or breach and requiring it to
         be remedied and stating that such notice is a "Notice of Default"
         hereunder; or

         (5) the entry by a court having jurisdiction in the premises of (A) a
         decree or order for relief in respect of the Company or the Guarantor
         in an involuntary case or proceeding under any applicable Federal or
         State bankruptcy, insolvency, reorganization or other similar law or
         (B) a decree or order adjudging the Company or the Guarantor a
         bankrupt or insolvent, or approving as properly filed a petition
         seeking reorganization, arrangement, adjustment or composition of or
         in respect of the Company or the Guarantor under any applicable
         Federal or State law, or appointing a custodian, receiver, liquidator,
         assignee, trustee, sequestrator or other similar official of the
         Company or the Guarantor or of any substantial part of its property,
         or ordering the winding up or liquidation of its affairs, and the
         continuance of any such decree or order for relief or any such other
         decree or order unstayed and in effect for a period of 60 consecutive
         days; or

         (6) the commencement by the Company or the Guarantor of a voluntary
         case or proceeding under any applicable Federal or State bankruptcy,
         insolvency, reorganization or other similar law or of any other case
         or proceeding to be adjudicated a bankrupt or insolvent, or the
         consent by it to the entry of a decree or order for relief in respect
         of the Company or the Guarantor in an involuntary case or proceeding
         under any applicable

                                     -41-
<PAGE>

         Federal or State bankruptcy, insolvency, reorganization or other
         similar law or to the commencement of any bankruptcy or insolvency
         case or proceeding against it, or the filing by it of a petition or
         answer or consent seeking reorganization or relief under any
         applicable Federal or State law, or the consent by it to the filing of
         such petition or to the appointment of or taking possession by a
         custodian, receiver, liquidator, assignee, trustee, sequestrator or
         other similar official of the Company or the Guarantor or of any
         substantial part of its property, or the making by either of them of
         an assignment for the benefit of creditors, or the admission by either
         of them in writing of its inability to pay its debts generally as they
         become due, or the taking of corporate action by the Company or the
         Guarantor in furtherance of any such action;

         (7) any other Event of Default provided with respect to Securities of
         that series; or

         (8) The Guarantor shall contest the validity of or the enforceability
         of the Guarantee or any obligation of the Guarantor under the
         Guarantee shall not be (or is claimed by the Guarantor not to be) in
         full force and effect.

SECTION 502.        Acceleration of Maturity; Rescission and Annulment.

         If an Event of Default (other than an Event of Default specified in
Section 501(5) or 501(6)) with respect to Securities of any series at the time
Outstanding occurs and is continuing, then in every such case the Trustee or
the Holders of not less than 25% in principal amount of the Outstanding
Securities of that series may declare the principal amount of all the
Securities of that series (or, if any Securities of that series are Original
Issue Discount Securities, such portion of the principal amount of such
Securities as may be specified by the terms thereof) to be due and payable
immediately, by a notice in writing to the Company and the Guarantor (and to
the Trustee, the Company and the Guarantor if given by Holders), and upon any
such declaration such principal amount (or specified amount) shall become
immediately due and payable. If an Event of Default specified in Section 501(5)
or 501 (6) with respect to Securities of any series at the time Outstanding
occurs, the principal amount of all the Securities of that series (or, if any
Securities of that series are Original Issue Discount Securities, such portion
of the principal amount of such Securities as may be specified by the terms
thereof) shall automatically, and without any declaration or other action on
the part of the Trustee or any Holder, become immediately due and payable.

         At any time after such a declaration of acceleration with respect to
Securities of any series has been made and before a judgment or decree for
payment of the money due has been obtained by the Trustee as hereinafter in
this Article provided, the Holders of a majority in principal amount of the
Outstanding Securities of that series, by written notice to the Company, the
Guarantor and the Trustee, may rescind and annul such declaration and its
consequences if

         (1) the Company or the Guarantor has paid or deposited with the
         Trustee a sum sufficient to pay

               (A) all overdue interest on all Securities of that series,

               (B) the principal of (and premium, if any, on) any Securities of
          that series which have become due otherwise than by such declaration
          of acceleration and any interest thereon at the rate or rates
          prescribed therefor in such Securities,

                                     -42-
<PAGE>

               (C) to the extent that payment of such interest is lawful,
          interest upon overdue interest at the rate or rates prescribed
          therefor in such Securities, and

               (D) all sums paid or advanced by the Trustee hereunder and the
          reasonable compensation, expenses, disbursements and advances of the
          Trustee, its agents and counsel;

         and

               (2) all Events of Default with respect to Securities of that
          series, other than the non-payment of the principal of Securities of
          that series which have become due solely by such declaration of
          acceleration, have been cured or waived as provided in Section 513.

         No such rescission shall affect any subsequent default or impair any
right consequent thereon.

SECTION 503.      Collection of Indebtedness and Suits for Enforcement by
                  Trustee.

         The Company covenants that if

         (1) default is made in the payment of any interest on any Security
         when such interest becomes due and payable and such default continues
         for a period of 30 days, or

         (2) default is made in the payment of the principal of (or premium, if
         any, on) any Security at the Maturity thereof,

the Company will, upon demand of the Trustee, pay to it, for the benefit of the
Holders of such Securities, the whole amount then due and payable on such
Securities for principal and any premium and interest and, to the extent that
payment of such interest shall be legally enforceable, interest on any overdue
principal and premium and on any overdue interest, at the rate or rates
prescribed therefor in such Securities, and, in addition thereto, such further
amount as shall be sufficient to cover the costs and expenses of collection,
including the reasonable compensation, expenses, disbursements and advances of
the Trustee, its agents and counsel.

         If an Event of Default with respect to Securities of any series occurs
and is continuing, the Trustee may in its discretion proceed to protect and
enforce its rights and the rights of the Holders of Securities of such series
by such appropriate judicial proceedings as the Trustee shall deem most
effectual to protect and enforce any such rights, whether for the specific
enforcement of any covenant or agreement in this Indenture or the Guarantee or
in aid of the exercise of any power granted herein, or to enforce any other
proper remedy.

SECTION 504.      Trustee May File Proofs of Claim.

         In case of any judicial proceeding relative to the Company, the
Guarantor (or any other obligor upon the Securities), its property or its
creditors, the Trustee shall be entitled and empowered, by intervention in such
proceeding or otherwise, to take any and all actions authorized under the Trust
Indenture Act in order to have claims of the Holders and the Trustee allowed in
any such proceeding. In particular, the Trustee shall be authorized to collect
and receive any moneys or other property payable or deliverable on any such
claims and to distribute

                                     -43-
<PAGE>

the same; and any custodian, receiver, assignee, trustee, liquidator,
sequestrator or other similar official in any such judicial proceeding is
hereby authorized by each Holder to make such payments to the Trustee and, in
the event that the Trustee shall consent to the making of such payments
directly to the Holders, to pay to the Trustee any amount due it for the
reasonable compensation, expenses, disbursements and advances of the Trustee,
its agents and counsel, and any other amounts due the Trustee under Section
607.

         No provision of this Indenture shall be deemed to authorize the
Trustee to authorize or consent to or accept or adopt on behalf of any Holder
any plan of reorganization, arrangement, adjustment or composition affecting
the Securities or the rights of any Holder thereof or to authorize the Trustee
to vote in respect of the claim of any Holder in any such proceeding; provided,
however, that the Trustee may, on behalf of the Holders, vote for the election
of a trustee in bankruptcy or similar official and be a member of a creditors'
or other similar committee.

SECTION 505.      Trustee May Enforce Claims Without Possession of Securities.

         All rights of action and claims under this Indenture or the Securities
may be prosecuted and enforced by the Trustee without the possession of any of
the Securities or the production thereof in any proceeding relating thereto,
and any such proceeding instituted by the Trustee shall be brought in its own
name as trustee of an express trust, and any recovery of judgment shall, after
provision for the payment of the reasonable compensation, expenses,
disbursements and advances of the Trustee, its agents and counsel, be for the
ratable benefit of the Holders of the Securities in respect of which such
judgment has been recovered.

SECTION 506.      Application of Money Collected.

         Any money collected by the Trustee pursuant to this Article shall be
applied in the following order, at the date or dates fixed by the Trustee and,
in case of the distribution of such money on account of principal or any
premium or interest, upon presentation of the Securities and the notation
thereon of the payment if only partially paid and upon surrender thereof if
fully paid:

         FIRST: To the payment of all amounts due the Trustee under Section
         607; and

         SECOND: To the payment of the amounts then due and unpaid for
         principal of and any premium and interest on the Securities in respect
         of which or for the benefit of which such money has been collected,
         ratably, without preference or priority of any kind, according to the
         amounts due and payable on such Securities for principal and any
         premium and interest, respectively.

SECTION 507.      Limitation on Suits.

         No Holder of any Security of any series shall have any right to
institute any proceeding, judicial or otherwise, with respect to this Indenture
or the Guarantee, or for the appointment of a receiver or trustee, or for any
other remedy hereunder or under the Guarantee, unless

         (1) such Holder has previously given written notice to the Trustee of
         a continuing Event of Default with respect to the Securities of that
         series;

                                     -44-
<PAGE>

         (2) the Holders of not less than 25% in principal amount of the
         Outstanding Securities of that series shall have made written request
         to the Trustee to institute proceedings in respect of such Event of
         Default in its own name as Trustee hereunder;

         (3) such Holder or Holders have offered to the Trustee reasonable
         indemnity against the costs, expenses and liabilities to be incurred
         in compliance with such request;

         (4) the Trustee for 60 days after its receipt of such notice, request
         and offer of indemnity has failed to institute any such proceeding;
         and

         (5) no direction inconsistent with such written request has been given
         to the Trustee during such 60-day period by the Holders of a majority
         in principal amount of the Outstanding Securities of that series;

it being understood and intended that no one or more of such Holders shall have
any right in any manner whatever by virtue of, or by availing of, any provision
of this Indenture to affect, disturb or prejudice the rights of any other of
such Holders, or to obtain or to seek to obtain priority or preference over any
other of such Holders or to enforce any right under this Indenture, except in
the manner herein provided and for the equal and ratable benefit of all of such
Holders.

SECTION 508.      Unconditional Right of Holders to Receive Principal,
                  Premium and Interest

         Notwithstanding any other provision in this Indenture, the Holder of
any Security shall have the right, which is absolute and unconditional, to
receive payment of the principal of and any premium and (subject to Section
307) interest and any other amounts on such Security on the respective Stated
Maturities expressed in such Security (or, in the case of redemption, on the
Redemption Date) and to institute suit for the enforcement of any such payment,
including under the Guarantee, and such rights shall not be impaired without
the consent of such Holder.

SECTION 509.      Restoration of Rights and Remedies.

         If the Trustee or any Holder has instituted any proceeding to enforce
any right or remedy under this Indenture or the Guarantee and such proceeding
has been discontinued or abandoned for any reason, or has been determined
adversely to the Trustee or to such Holder, then and in every such case,
subject to any determination in such proceeding, the Company, the Trustee and
the Holders shall be restored severally and respectively to their former
positions hereunder and thereafter all rights and remedies of the Trustee and
the Holders shall continue as though no such proceeding had been instituted.

SECTION 510.      Rights and Remedies Cumulative.

         Except as otherwise provided with respect to the replacement or
payment of mutilated, destroyed, lost or stolen Securities in the last
paragraph of Section 306, no right or remedy herein or in the Guarantee
conferred upon or reserved to the Trustee or to the Holders is intended to be
exclusive of any other right or remedy, and every right and remedy shall, to
the extent permitted by law, be cumulative and in addition to every other right
and remedy given hereunder or now or hereafter existing at law or in equity or
otherwise. The assertion or employment of any right or remedy hereunder, or
otherwise, shall not prevent the concurrent assertion or employment of any
other appropriate right or remedy.

                                     -45-
<PAGE>

SECTION 511.      Delay or Omission Not Waiver.

         No delay or omission of the Trustee or of any Holder of any Securities
to exercise any right or remedy accruing upon any Event of Default shall impair
any such right or remedy or constitute a waiver of any such Event of Default or
an acquiescence therein. Every right and remedy given by this Article or by law
to the Trustee or to the Holders may be exercised from time to time, and as
often as may be deemed expedient, by the Trustee or by the Holders, as the case
may be.

SECTION 512.      Control by Holders.

         The Holders of a majority in principal amount of the Outstanding
Securities of any series shall have the right to direct the time, method and
place of conducting any proceeding for any remedy available to the Trustee, or
exercising any trust or power conferred on the Trustee, with respect to the
Securities of such series, provided that

         (1) such direction shall not be in conflict with any rule of law or
         with this Indenture, and

         (2) the Trustee may take any other action deemed proper by the Trustee
         which is not inconsistent with such direction.

SECTION 513.      Waiver of Past Defaults.

         The Holders of not less than a majority in principal amount of the
Outstanding Securities of any series may on behalf of the Holders of all the
Securities of such series waive any past default hereunder with respect to such
series and its consequences, except a default

         (1) in the payment of the principal of or any premium or interest or
         other amounts payable on any Security of such series, or

         (2) in respect of a covenant or provision hereof which under Article
         Nine cannot be modified or amended without the consent of the Holder
         of each Outstanding Security of such series affected.

          Upon any such waiver, such default shall cease to exist, and any Event
of Default arising therefrom shall be deemed to have been cured, for every
purpose of this Indenture; but no such waiver shall extend to any subsequent or
other default or impair any right consequent thereon.

SECTION 514.      Undertaking for Costs.

         In any suit for the enforcement of any right or remedy under this
Indenture or the Guarantee , or in any suit against the Trustee for any action
taken, suffered or omitted by it as Trustee, a court may require any party
litigant in such suit to file an undertaking to pay the costs of such suit, and
may assess costs against any such party litigant, in the manner and to the
extent provided in the Trust Indenture Act; provided that neither this Section
nor the Trust Indenture Act shall be deemed to authorize any court to require
such an undertaking or to make such an assessment in any suit instituted by the
Company or the Guarantor.

                                     -46-
<PAGE>

SECTION 515.      Waiver of Usury, Stay or Extension Laws.

         The Company covenants (to the extent that it may lawfully do so) that
it will not at any time insist upon, or plead, or in any manner whatsoever
claim or take the benefit or advantage of, any usury, stay or extension law
wherever enacted, now or at any time hereafter in force, which may affect the
covenants or the performance of this Indenture; and the Company (to the extent
that it may lawfully do so) hereby expressly waives all benefit or advantage of
any such law and covenants that it will not hinder, delay or impede the
execution of any power herein granted to the Trustee, but will suffer and
permit the execution of every such power as though no such law had been
enacted.

                                     -47-
<PAGE>

                                  ARTICLE SIX
                                  THE TRUSTEE

SECTION 601.      Certain Duties and Responsibilities.

         The duties and responsibilities of the Trustee shall be as provided by
the Trust Indenture Act. Notwithstanding the foregoing, no provision of this
Indenture shall require the Trustee to expend or risk its own funds or
otherwise incur any financial liability in the performance of any of its duties
hereunder, or in the exercise of any of its rights or powers, if it shall have
reasonable grounds for believing that repayment of such funds or adequate
indemnity against such risk or liability is not reasonably assured to it.
Whether or not therein expressly so provided, every provision of this Indenture
relating to the conduct or affecting the liability of or affording protection
to the Trustee shall be subject to the provisions of this Section.

SECTION 602.      Notice of Defaults.

         If a default occurs hereunder with respect to Securities of any
series, the Trustee shall give the Holders of Securities of such series notice
of such default as and to the extent provided by the Trust Indenture Act;
provided, however, that in the case of any default of the character specified
in Section 501(4) with respect to Securities of such series, no such notice to
Holders shall be given until at least 60 days after the occurrence thereof. For
the purpose of this Section, the term "default" means any event which is, or
after notice or lapse of time or both would become, an Event of Default with
respect to Securities of such series.

SECTION 603.      Certain Rights of Trustee.

         Subject to the provisions of Section 601:

         (1) the Trustee may rely and shall be protected in acting or
         refraining from acting upon any resolution, certificate, statement,
         instrument, opinion, report, notice, request, direction, consent,
         order, bond, debenture, note, other evidence of indebtedness or other
         paper or document believed by it to be genuine and to have been signed
         or presented by the proper party or parties;

         (2) any request or direction of the Company mentioned herein shall be
         sufficiently evidenced by a Company Request or Company Order, and any
         resolution of the Board of Directors shall be sufficiently evidenced
         by a Board Resolution;

         (3) whenever in the administration of this Indenture the Trustee shall
         deem it desirable that a matter be proved or established prior to
         taking, suffering or omitting any action hereunder, the Trustee
         (unless other evidence be herein specifically prescribed) may, in the
         absence of bad faith on its part, rely upon an Officer's Certificate;

         (4) the Trustee may consult with counsel and the written advice of
         such counsel or any Opinion of Counsel shall be full and complete
         authorization and protection in respect of any action taken, suffered
         or omitted by it hereunder in good faith and in reliance thereon;

                                     -48-
<PAGE>

         (5) the Trustee shall be under no obligation to exercise any of the
         rights or powers vested in it by this Indenture at the request or
         direction of any of the Holders pursuant to this Indenture, unless
         such Holders shall have offered to the Trustee reasonable security or
         indemnity against the costs, expenses and liabilities which might be
         incurred by it in compliance with such request or direction;

         (6) the Trustee shall not be bound to make any investigation into the
         facts or matters stated in any resolution, certificate, statement,
         instrument, opinion, report, notice, request, direction, consent,
         order, bond, debenture, note, other evidence of indebtedness or other
         paper or document, but the Trustee, in its discretion, may make such
         further inquiry or investigation into such facts or matters as it may
         see fit, and, if the Trustee shall determine to make such further
         inquiry or investigation, it shall be entitled to examine the books,
         records and premises of the Company, personally or by agent or
         attorney; and

         (7) the Trustee may execute any of the trusts or powers hereunder or
         perform any duties hereunder either directly or by or through agents
         or attorneys and the Trustee shall not be responsible for any
         misconduct or negligence on the part of any agent or attorney
         appointed with due care by it hereunder.

SECTION 604.      Not Responsible for Recitals or Issuance of Securities.

         The recitals contained herein and in the Securities, except the
Trustee's certificates of authentication, shall be taken as the statements of
the Company or the Guarantor, as applicable, and neither the Trustee nor any
Authenticating Agent assumes any responsibility for their correctness. The
Trustee makes no representations as to the validity or sufficiency of this
Indenture, the Guarantee or of the Securities. Neither the Trustee nor any
Authenticating Agent shall be accountable for the use or application by the
Company of Securities or the proceeds thereof.

SECTION 605.      May Hold Securities.

         The Trustee, any Authenticating Agent, any Paying Agent, any Security
Registrar or any other agent of the Company or the Guarantor, in its individual
or any other capacity, may become the owner or pledgee of Securities and,
subject to Sections 608 and 613, may otherwise deal with the Company or the
Guarantor with the same rights it would have if it were not Trustee,
Authenticating Agent, Paying Agent, Security Registrar or such other agent.

SECTION 606.      Money Held in Trust.

         Money held by the Trustee in trust hereunder need not be segregated
from other funds except to the extent required by law. The Trustee shall be
under no liability for interest on any money received by it hereunder except as
otherwise agreed with the Company.

                                     -49-
<PAGE>

SECTION 607.        Compensation and Reimbursement.

         The Company agrees

         (1) to pay to the Trustee from time to time reasonable compensation
         for all services rendered by it hereunder (which compensation shall
         not be limited by any provision of law in regard to the compensation
         of a trustee of an express trust);

         (2) except as otherwise expressly provided herein, to reimburse the
         Trustee upon its request for all reasonable expenses, disbursements
         and advances incurred or made by the Trustee in accordance with any
         provision of this Indenture (including the reasonable compensation and
         the expenses and disbursements of its agents and counsel), except any
         such expense, disbursement or advance as may be attributable to its
         negligence or bad faith; and

         (3) to indemnify the Trustee for, and to hold it harmless against, any
         loss, liability or expense incurred without negligence or bad faith on
         its part, arising out of or in connection with the acceptance or
         administration of the trust or trusts hereunder, including the costs
         and expenses of defending itself against any claim or liability in
         connection with the exercise or performance of any of its powers or
         duties hereunder.

         The provisions of this Section shall survive the resignation or
         removal of the Trustee and the satisfaction and discharge of the
         Indenture.

SECTION 608.      Conflicting Interests.

         If the Trustee has or shall acquire a conflicting interest within the
meaning of the Trust Indenture Act, the Trustee shall either eliminate such
interest or resign, to the extent and in the manner provided by, and subject to
the provisions of, the Trust Indenture Act and this Indenture. To the extent
permitted by the Trust Indenture Act, the Trustee shall not be deemed to have a
conflicting interest by virtue of being a trustee under this Indenture with
respect to Securities of more than one series.

SECTION 609.      Corporate Trustee Required; Eligibility.

         There shall at all times be one (and only one) Trustee hereunder with
respect to the Securities of each series, which may be Trustee hereunder for
Securities of one or more other series. Each Trustee shall be a Person that is
eligible pursuant to the Trust Indenture Act to act as such, and has a combined
capital and surplus of at least $50,000,000 . If any such Person publishes
reports of condition at least annually, pursuant to law or to the requirements
of its supervising or examining authority, then for the purposes of this
Section and to the extent permitted by the Trust Indenture Act, the combined
capital and surplus of such Person shall be deemed to be its combined capital
and surplus as set forth in its most recent report of condition so published.
If at any time the Trustee with respect to the Securities of any series shall
cease to be eligible in accordance with the provisions of this Section, it
shall resign immediately in the manner and with the effect hereinafter
specified in this Article.

                                     -50-
<PAGE>

SECTION 610.      Resignation and Removal; Appointment of Successor.

         No resignation or removal of the Trustee and no appointment of a
successor Trustee pursuant to this Article shall become effective until the
acceptance of appointment by the successor Trustee in accordance with the
applicable requirements of Section 611.

         The Trustee may resign at any time with respect to the Securities of
one or more series by giving written notice thereof to the Company and the
Guarantor. If the instrument of acceptance by a successor Trustee required by
Section 611 shall not have been delivered to the Trustee within 30 days after
the giving of such notice of resignation, the resigning Trustee may petition
any court of competent jurisdiction for the appointment of a successor Trustee
with respect to the Securities of such series.

         The Trustee may be removed at any time with respect to the Securities
of any series by Act of the Holders of a majority in principal amount of the
Outstanding Securities of such series, delivered to the Trustee and to the
Company.

         If at any time:

         (1) the Trustee shall fail to comply with Section 608 after written
         request therefor by the Company or by any Holder who has been a bona
         fide Holder of a Security for at least six months, or

         (2) the Trustee shall cease to be eligible under Section 609 and shall
         fail to resign after written request therefor by the Company or by any
         such Holder, or

         (3) the Trustee shall become incapable of acting or shall be adjudged
         a bankrupt or insolvent or a receiver of the Trustee or of its
         property shall be appointed or any public officer shall take charge or
         control of the Trustee or of its property or affairs for the purpose
         of rehabilitation, conservation or liquidation,

then, in any such case, (A) the Company by a Board Resolution may remove the
Trustee with respect to all Securities, or (B) subject to Section 514, any
Holder who has been a bona fide Holder of a Security for at least six months
may, on behalf of himself and all others similarly situated, petition any court
of competent jurisdiction for the removal of the Trustee with respect to all
Securities and the appointment of a successor Trustee or Trustees.

         If the Trustee shall resign, be removed or become incapable of acting,
or if a vacancy shall occur in the office of Trustee for any cause, with
respect to the Securities of one or more series, the Company shall promptly
appoint a successor Trustee or Trustees with respect to the Securities of that
or those series (it being understood that any such successor Trustee may be
appointed with respect to the Securities of one or more or all of such series
and that at any time there shall be only one Trustee with respect to the
Securities of any particular series) and shall comply with the applicable
requirements of Section 611. If, within one year after such resignation,
removal or incapability, or the occurrence of such vacancy, a successor Trustee
with respect to the Securities of any series shall be appointed by Act of the
Holders of a majority in principal amount of the Outstanding Securities of such
series delivered to the Company, the Guarantor and the retiring Trustee, the
successor Trustee so appointed shall, forthwith upon its acceptance of such
appointment in accordance with the applicable requirements of Section 611,

                                     -51-
<PAGE>

become the successor Trustee with respect to the Securities of such series and
to that extent supersede the successor Trustee appointed by the Company. If no
successor Trustee with respect to the Securities of any series shall have been
so appointed by the Company or the Holders and accepted appointment in the
manner required by Section 611, any Holder who has been a bona fide Holder of a
Security of such series for at least six months may, on behalf of himself and
all others similarly situated, petition any court of competent jurisdiction for
the appointment of a successor Trustee with respect to the Securities of such
series.

         The Company shall give notice of each resignation and each removal of
the Trustee with respect to the Securities of any series and each appointment
of a successor Trustee with respect to the Securities of any series to all
Holders of Securities of such series in the manner provided in Section 106.
Each notice shall include the name of the successor Trustee with respect to the
Securities of such series and the address of its Corporate Trust Office.

SECTION 611.      Acceptance of Appointment by Successor.

         In case of the appointment hereunder of a successor Trustee with
respect to all Securities, every such successor Trustee so appointed shall
execute, acknowledge and deliver to the Company, the Guarantor and to the
retiring Trustee an instrument accepting such appointment, and thereupon the
resignation or removal of the retiring Trustee shall become effective and such
successor Trustee, without any further act, deed or conveyance, shall become
vested with all the rights, powers, trusts and duties of the retiring Trustee;
but, on the request of the Company, the Guarantor or the successor Trustee,
such retiring Trustee shall, upon payment of its charges, execute and deliver
an instrument transferring to such successor Trustee all the rights, powers and
trusts of the retiring Trustee and shall duly assign, transfer and deliver to
such successor Trustee all property and money held by such retiring Trustee
hereunder.

         In case of the appointment hereunder of a successor Trustee with
respect to the Securities of one or more (but not all) series, the Company, the
retiring Trustee and each successor Trustee with respect to the Securities of
one or more series shall execute and deliver a written instrument wherein each
successor Trustee shall accept such appointment and which (1) shall contain
such provisions as shall be necessary or desirable to transfer and confirm to,
and to vest in, each successor Trustee all the rights, powers, trusts and
duties of the retiring Trustee with respect to the Securities of that or those
series to which the appointment of such successor Trustee relates, (2) if the
retiring Trustee is not retiring with respect to all Securities, shall contain
such provisions as shall be deemed necessary or desirable to confirm that all
the rights, powers, trusts and duties of the retiring Trustee with respect to
the Securities of that or those series as to which the retiring Trustee is not
retiring shall continue to be vested in the retiring Trustee, and (3) shall add
to or change any of the provisions of this Indenture as shall be necessary to
provide for or facilitate the administration of the trusts hereunder by more
than one Trustee, it being understood that nothing herein or in such
supplemental indenture shall constitute such Trustees co-trustees of the same
trust and that each such Trustee shall be trustee of a trust or trusts
hereunder separate and apart from any trust or trusts hereunder administered by
any other such Trustee; and upon the execution and delivery of such written
instrument the resignation or removal of the retiring Trustee shall become
effective to the extent provided therein and each such successor Trustee,
without any further act, deed or conveyance, shall become vested with all the
rights, powers, trusts and duties of the retiring Trustee with respect to the
Securities of that or those series to which the appointment of such successor
Trustee relates; but, on request of the Company or any successor Trustee, such
retiring Trustee shall duly assign, transfer and deliver to such successor
Trustee all

                                     -52-
<PAGE>

property and money held by such retiring Trustee hereunder with respect to the
Securities of that or those series to which the appointment of such successor
Trustee relates.

         Upon request of any such successor Trustee, the Company shall execute
any and all instruments for more fully and certainly vesting in and confirming
to such successor Trustee all such rights, powers and trusts referred to in the
first or second preceding paragraph, as the case may be.

         No successor Trustee shall accept its appointment unless at the time
of such acceptance such successor Trustee shall be qualified and eligible under
this Article.

SECTION 612.      Merger, Conversion, Consolidation or Succession to Business.

         Any corporation into which the Trustee may be merged or converted or
with which it may be consolidated, or any corporation resulting from any
merger, conversion or consolidation to which the Trustee shall be a party, or
any corporation succeeding to all or substantially all the corporate trust
business of the Trustee, shall be the successor of the Trustee hereunder,
provided such corporation shall be otherwise qualified and eligible under this
Article, without the execution or filing of any paper or any further act on the
part of any of the parties hereto. In case any Securities shall have been
authenticated, but not delivered, by the Trustee then in office, any successor
by merger, conversion or consolidation to such authenticating Trustee may adopt
such authentication and deliver the Securities so authenticated with the same
effect as if such successor Trustee had itself authenticated such Securities.

SECTION 613.      Preferential Collection of Claims Against Company.

         If and when the Trustee shall be or become a creditor of the Company,
the Guarantor (or any other obligor upon the Securities), the Trustee shall be
subject to the provisions of the Trust Indenture Act regarding the collection
of claims against the Company or the Guarantor (or any such other obligor).

SECTION 614.      Appointment of Authenticating Agent.

         The Trustee may appoint an Authenticating Agent or Agents with respect
to one or more series of Securities which shall be authorized to act on behalf
of the Trustee to authenticate Securities of such series issued upon original
issue and upon exchange, registration of transfer or partial redemption thereof
or pursuant to Section 306, and Securities so authenticated shall be entitled
to the benefits of this Indenture and shall be valid and obligatory for all
purposes as if authenticated by the Trustee hereunder. Wherever reference is
made in this Indenture to the authentication and delivery of Securities by the
Trustee or the Trustee's certificate of authentication, such reference shall be
deemed to include authentication and delivery on behalf of the Trustee by an
Authenticating Agent and a certificate of authentication executed on behalf of
the Trustee by an Authenticating Agent. Each Authenticating Agent shall be
acceptable to the Company and shall at all times be a corporation organized and
doing business under the laws of the United States of America, any State
thereof or the District of Columbia, authorized under such laws to act as
Authenticating Agent, having a combined capital and surplus of not less than
$50,000,000 and subject to supervision or examination by Federal or State
authority. If such Authenticating Agent publishes reports of condition at least
annually, pursuant to law or to the requirements of said supervising or
examining authority, then for the purposes of this Section, the

                                     -53-
<PAGE>

combined capital and surplus of such Authenticating Agent shall be deemed to be
its combined capital and surplus as set forth in its most recent report of
condition so published. If at any time an Authenticating Agent shall cease to
be eligible in accordance with the provisions of this Section, such
Authenticating Agent shall resign immediately in the manner and with the effect
specified in this Section.

         Any corporation into which an Authenticating Agent may be merged or
converted or with which it may be consolidated, or any corporation resulting
from any merger, conversion or consolidation to which such Authenticating Agent
shall be a party, or any corporation succeeding to the corporate agency or
corporate trust business of an Authenticating Agent, shall continue to be an
Authenticating Agent, provided such corporation shall be otherwise eligible
under this Section, without the execution or filing of any paper or any further
act on the part of the Trustee or the Authenticating Agent.

         An Authenticating Agent may resign at any time by giving written
notice thereof to the Trustee, the Company and the Guarantor. The Trustee may
at any time terminate the agency of an Authenticating Agent by giving written
notice thereof to such Authenticating Agent, the Company and the Guarantor.
Upon receiving such a notice of resignation or upon such a termination, or in
case at any time such Authenticating Agent shall cease to be eligible in
accordance with the provisions of this Section, the Trustee may appoint a
successor Authenticating Agent which shall be acceptable to the Company and the
Guarantor and shall give notice of such appointment in the manner provided in
Section 106 to all Holders of Securities of the series with respect to which
such Authenticating Agent will serve. Any successor Authenticating Agent upon
acceptance of its appointment hereunder shall become vested with all the
rights, powers and duties of its predecessor hereunder, with like effect as if
originally named as an Authenticating Agent. No successor Authenticating Agent
shall be appointed unless eligible under the provisions of this Section.

         The Trustee agrees to pay to each Authenticating Agent from time to
time reasonable compensation for its services under this Section, and the
Trustee shall be entitled to be reimbursed for such payments, subject to the
provisions of Section 607.

         If an appointment with respect to one or more series is made pursuant
to this Section, the Securities of such series may have endorsed thereon, in
addition to the Trustee's certificate of authentication, an alternative
certificate of authentication in the following form:

         This is one of the Securities of the series designated therein
referred to in the within-mentioned Indenture.

                                     -54-
<PAGE>

                                                 BANK ONE, NATIONAL ASSOCIATION
                                                                     As Trustee

                                                      By.......................
                                                        As Authenticating Agent

                                                      By.......................
                                                             Authorized Officer

                                 ARTICLE SEVEN
               HOLDERS' LISTS AND REPORTS BY TRUSTEE AND COMPANY

SECTION 701.      Company to Furnish Trustee Names and Addresses of Holders.

         The Company will furnish or cause to be furnished to the Trustee

         (1) semi-annually, not more than 15 days after such semi-annual dates
         as may be specified by the Trustee, a list, in such form as the
         Trustee may reasonably require, of the names and addresses of the
         Holders of Securities of each series as of such semi-annual date as
         the case may be, and

         (2) at such other times as the Trustee may request in writing, within
         30 days after the receipt by the Company of any such request, a list
         of similar form and content as of a date not more than 15 days prior
         to the time such list is furnished;

provided, however, that so long as the Trustee is the Security Registrar, no
such list need be furnished.

SECTION 702.      Preservation of Information; Communications to Holders.

         The Trustee shall preserve, in as current a form as is reasonably
practicable, the names and addresses of Holders contained in the most recent
list furnished to the Trustee as provided in Section 701 and the names and
addresses of Holders received by the Trustee in its capacity as Security
Registrar. The Trustee may destroy any list furnished to it as provided in
Section 701 upon receipt of a new list so furnished.

         The rights of Holders to communicate with other Holders with respect
to their rights under this Indenture or under the Securities, and the
corresponding rights and privileges of the Trustee, shall be as provided by the
Trust Indenture Act.

         Every Holder of Securities, by receiving and holding the same, agrees
with the Company and the Trustee that neither the Company nor the Guarantor nor
the Trustee nor any agent of any of them shall be held accountable by reason of
any disclosure of information as to names and addresses of Holders made
pursuant to the Trust Indenture Act.

                                     -55-
<PAGE>

SECTION 703.      Reports by Trustee.

         The Trustee shall transmit to Holders such reports concerning the
Trustee and its actions under this Indenture as may be required pursuant to the
Trust Indenture Act at the times and in the manner provided pursuant thereto.

         A copy of each such report shall, at the time of such transmission to
Holders, be filed by the Trustee with each stock exchange upon which any
Securities are listed, with the Commission with the Company and with the
Guarantor. The Company will notify the Trustee when any Securities are listed
on any stock exchange.

SECTION 704.      Reports by Company and the Guarantor.

         The Company and the Guarantor shall file with the Trustee and the
Commission, and transmit to Holders, such information, documents and other
reports, and such summaries thereof, as may be required pursuant to the Trust
Indenture Act at the times and in the manner provided pursuant to such Act;
provided that any such information, documents or reports required to be filed
with the Commission pursuant to Section 13 or 15(d) of the Exchange Act shall
be filed with the Trustee within 15 days after the same is so required to be
filed with the Commission.

                                 ARTICLE EIGHT
              CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE

SECTION 801.      Company or Guarantor May Consolidate, Etc.,
                  Only on Certain Terms.

         Neither the Company nor the Guarantor shall consolidate with or merge
into any other Person or sell, convey, transfer or lease its properties and
assets substantially as an entirety to any Person unless:

         (1) the Person formed by such consolidation or into which the Company
         or the Guarantor is merged or the Person which acquires by sale,
         conveyance, transfer or lease the properties and assets of the Company
         or the Guarantor substantially as an entirety shall be a corporation
         organized and existing under the laws of the United States, any state
         thereof or the District of Columbia;

         (2) the Person formed by such consolidation or into which the Company
         or the Guarantor is merged or the Person which acquires by sale,
         conveyance, transfer or lease the properties and assets of the Company
         or the Guarantor substantially as an entirety shall expressly assume,
         by an indenture supplemental hereto, executed and delivered to the
         Trustee, in form satisfactory to the Trustee, the due and punctual
         payment of the principal of (and premium, if any) and interest and
         other amounts payable, if any, on all the Securities and the
         performance of every covenant of this Indenture or the Guarantee on
         the part of the Company or the Guarantor to be performed or observed;

         (3) immediately after giving effect to such transaction, and treating
         any indebtedness which becomes an obligation of the Company or the
         Guarantor or a Subsidiary as a result of such transaction as having
         been incurred by the Company or the Guarantor or such Subsidiary at
         the time of such transaction no Event of Default, and no event which,
         after

                                     -56-
<PAGE>

         notice or lapse of time, or both, would become an Event of Default,
         shall have happened and be continuing; and

         (4) the Company or the Guarantor has delivered to the Trustee an
         Officer's Certificate and an Opinion of Counsel each stating that such
         consolidation, merger, sale, conveyance, transfer or lease and, if a
         supplemental indenture is required in connection with such
         transaction, such supplemental indenture comply with this Article and
         that all conditions precedent herein provided for relating to such
         transaction have been complied with.

SECTION 802.      Successor Substituted.

         Upon any consolidation of the Company or the Guarantor with, or merger
of the Company or the Guarantor into, any other Person or any conveyance,
transfer or lease of the properties and assets of the Company or the Guarantor
substantially as an entirety in accordance with Section 801, the successor
Person formed by such consolidation or into which the Company or the Guarantor
is merged or to which such conveyance, transfer or lease is made shall succeed
to, and be substituted for, and may exercise every right and power of, the
Company or the Guarantor under this Indenture or the Guarantee with the same
effect as if such successor Person had been named as the Company as the case
may be herein, and thereafter, except in the case of a lease, the predecessor
Person shall be relieved of all obligations and covenants under this Indenture
and the Securities.

                                 ARTICLE NINE
                            SUPPLEMENTAL INDENTURES

SECTION 901.      Supplemental Indentures Without Consent of Holders.

         Without the consent of any Holders, the Company and the Guarantor,
when authorized by a Board Resolution, and the Trustee, at any time and from
time to time, may enter into one or more indentures supplemental hereto, in
form satisfactory to the Trustee, for any of the following purposes:

         (1) to evidence the succession of another Person to the Company or the
         Guarantor and the assumption by any such successor of the covenants of
         the Company or the Guarantor herein and in the Securities or the
         Guarantee, as the case may be; or

         (2) to add to the covenants of the Company or the Guarantor for the
         benefit of the Holders of all or any series of Securities (and if such
         covenants are to be for the benefit of less than all series of
         Securities, stating that such covenants are expressly being included
         solely for the benefit of such series) or to surrender any right or
         power herein conferred upon the Company or the Guarantor; or

         (3) to add any additional Events of Default for the benefit of the
         Holders of all or any series of Securities (and if such additional
         Events of Default are to be for the benefit of less than all series of
         Securities, stating that such additional Events of Default are
         expressly being included solely for the benefit of such series); or

                                     -57-
<PAGE>

         (4) to add to or change any of the provisions of this Indenture to
         such extent as shall be necessary to permit or facilitate the issuance
         of Securities in bearer form, registrable or not registrable as to
         principal, and with or without interest coupons, or to permit or
         facilitate the issuance of Securities in uncertificated form; or

         (5) to add to, change or eliminate any of the provisions of this
         Indenture in respect of one or more series of Securities, provided
         that any such addition, change or elimination (A) shall neither (i)
         apply to any Security of any series created prior to the execution of
         such supplemental indenture and entitled to the benefit of such
         provision nor (ii) modify the rights of the Holder of any such
         Security with respect to such provision or (B) shall become effective
         only when there is no such Security Outstanding; or

         (6) to secure the Securities pursuant to the requirements of Section
         1004 or otherwise; or

         (7) to establish the form or terms of Securities of any series as
         permitted by Sections 201 and 301; or

         (8) to evidence and provide for the acceptance of appointment
         hereunder by a successor Trustee with respect to the Securities of one
         or more series and to add to or change any of the provisions of this
         Indenture as shall be necessary to provide for or facilitate the
         administration of the trusts hereunder by more than one Trustee,
         pursuant to the requirements of Section 611; or

         (9) to cure any ambiguity, to correct or supplement any provision
         herein which may be defective or inconsistent with any other provision
         herein, or to make any other provisions with respect to matters or
         questions arising under this Indenture, provided that such action
         pursuant to this Clause (9) shall not adversely affect the interests
         of the Holders of Securities of any series in any material respect.

SECTION 902.      Supplemental Indentures With Consent of Holders.

         With the consent of the Holders of not less than a majority in
principal amount of the Outstanding Securities of each series affected by such
supplemental indenture, by Act of said Holders delivered to the Company , the
Guarantor and the Trustee, the Company and the Guarantor, when authorized by a
Board Resolution, and the Trustee may enter into an indenture or indentures
supplemental hereto for the purpose of adding any provisions to or changing in
any manner or eliminating any of the provisions of this Indenture or of
modifying in any manner the rights of the Holders of Securities of such series
under this Indenture; provided, however, that no such supplemental indenture
shall, without the consent of the Holder of each Outstanding Security affected
thereby,

         (1) change the Stated Maturity of the principal of, or any installment
         of or terms of purchase of principal of or interest on, any Security,
         or reduce the principal amount thereof or the rate of interest thereon
         or any premium payable upon the redemption thereof, or reduce the
         amount of the principal of an Original Issue Discount Security or any
         other Security which would be due and payable upon a declaration of
         acceleration of the Maturity thereof pursuant to Section 502, or
         change any Place of Payment where, or the coin or currency in which,
         any Security or any premium or interest thereon is payable,

                                     -58-
<PAGE>

         or impair the right to institute suit for the enforcement of any such
         payment on or after the Stated Maturity thereof (or, in the case of
         redemption, on or after the Redemption Date), or

         (2) reduce the percentage in principal amount of the Outstanding
         Securities of any series, the consent of whose Holders is required for
         any such supplemental indenture, or the consent of whose Holders is
         required for any waiver (of compliance with certain provisions of this
         Indenture or certain defaults hereunder and their consequences)
         provided for in this Indenture, or

         (3) modify any of the provisions of this Section, Section 513 or
         Section 1009, except to increase any such percentage or to provide
         that certain other provisions of this Indenture and the Guarantee
         cannot be modified or waived without the consent of the Holder of each
         Outstanding Security affected thereby; provided, however, that this
         clause shall not be deemed to require the consent of any Holder with
         respect to changes in the references to "the Trustee" and concomitant
         changes in this Section and Section 1009, or the deletion of this
         proviso, in accordance with the requirements of Sections 611 and
         901(8).

A supplemental indenture which changes or eliminates any covenant or other
provision of this Indenture which has expressly been included solely for the
benefit of one or more particular series of Securities, or which modifies the
rights of the Holders of Securities of such series with respect to such
covenant or other provision, shall be deemed not to affect the rights under
this Indenture of the Holders of Securities of any other series.

         It shall not be necessary for any Act of Holders under this Section to
approve the particular form of any proposed supplemental indenture, but it
shall be sufficient if such Act shall approve the substance thereof.

SECTION 903.      Execution of Supplemental Indentures.

         In executing, or accepting the additional trusts created by, any
supplemental indenture permitted by this Article or the modifications thereby
of the trusts created by this Indenture, the Trustee shall be entitled to
receive, and (subject to Section 601) shall be fully protected in relying upon,
an Opinion of Counsel stating that the execution of such supplemental indenture
is authorized or permitted by this Indenture. The Trustee may, but shall not be
obligated to, enter into any such supplemental indenture which affects the
Trustee's own rights, duties or immunities under this Indenture or otherwise.

SECTION 904.      Effect of Supplemental Indentures.

         Upon the execution of any supplemental indenture under this Article,
this Indenture shall be modified in accordance therewith, and such supplemental
indenture shall form a part of this Indenture for all purposes; and every
Holder of Securities theretofore or thereafter authenticated and delivered
hereunder shall be bound thereby.

                                     -59-
<PAGE>

SECTION 905.      Reference in Securities to Supplemental Indentures.

         Securities of any series authenticated and delivered after the
execution of any supplemental indenture pursuant to this Article may, and shall
if required by the Trustee, bear a notation in form approved by the Trustee as
to any matter provided for in such supplemental indenture. If the Company shall
so determine, new Securities of any series so modified as to conform, in the
opinion of the Trustee and the Company, to any such supplemental indenture may
be prepared and executed by the Company and authenticated and delivered by the
Trustee in exchange for Outstanding Securities of such series.

                                  ARTICLE TEN
                                   COVENANTS

SECTION 1001.     Payment of Principal, Premium and Interest.

         The Company covenants and agrees for the benefit of each series of
Securities that it will duly and punctually pay the principal of and any
premium and interest and other amounts payable, if any, on the Securities of
that series in accordance with the terms of the Securities and this Indenture.
The Guarantor covenants that it will, as and when any amounts are due hereunder
or under any Security, duly and punctually pay such amounts as provided in the
Guarantee.

SECTION 1002.     Maintenance of Office or Agency.

         The Company will maintain in each Place of Payment for any series of
Securities an office or agency where Securities of that series may be presented
or surrendered for payment, where Securities of that series may be surrendered
for registration of transfer or exchange and where notices and demands to or
upon the Company or the Guarantor in respect of the Securities of that series
and this Indenture or the Guarantee may be served. The Company will give prompt
written notice to the Trustee of the location, and any change in the location,
of such office or agency. If at any time the Company shall fail to maintain any
such required office or agency or shall fail to furnish the Trustee with the
address thereof, such presentations, surrenders, notices and demands may be
made or served at the Corporate Trust Office of the Trustee, and each of the
Company and the Guarantor hereby appoints the Trustee as its agent to receive
all such presentations, surrenders, notices and demands.

         The Company may also from time to time designate one or more other
offices or agencies where the Securities of one or more series may be presented
or surrendered for any or all such purposes and may from time to time rescind
such designations; provided, however, that no such designation or rescission
shall in any manner relieve the Company of its obligation to maintain an office
or agency in each Place of Payment for Securities of any series for such
purposes. The Company will give prompt written notice to the Trustee of any
such designation or rescission and of any change in the location of any such
other office or agency.

SECTION 1003.     Money for Securities Payments to Be Held in Trust.

         If the Company shall at any time act as its own Paying Agent with
respect to any series of Securities, it will, on or before each due date of the
principal of or any premium or interest on any of the Securities of that
series, segregate and hold in trust for the benefit of the Persons entitled
thereto a sum sufficient to pay the principal and any premium and interest so
becoming due until

                                     -60-
<PAGE>

such sums shall be paid to such Persons or otherwise disposed of as herein
provided and will promptly notify the Trustee of its action or failure so to
act.

         Whenever the Company shall have one or more Paying Agents for any
series of Securities, it will, prior to each due date of the principal of or
any premium or interest on any Securities of that series, deposit with a Paying
Agent a sum sufficient to pay such amount, such sum to be held as provided by
the Trust Indenture Act, and (unless such Paying Agent is the Trustee) the
Company will promptly notify the Trustee of its action or failure so to act.

         The Company will cause each Paying Agent for any series of Securities
other than the Trustee to execute and deliver to the Trustee an instrument in
which such Paying Agent shall agree with the Trustee, subject to the provisions
of this Section, that such Paying Agent will (1) comply with the provisions of
the Trust Indenture Act applicable to it as a Paying Agent and (2) during the
continuance of any default by the Company (or any other obligor upon the
Securities of that series) in the making of any payment in respect of the
Securities of that series, upon the written request of the Trustee, forthwith
pay to the Trustee all sums held in trust by such Paying Agent for payment in
respect of the Securities of that series.

         The Company may at any time, for the purpose of obtaining the
satisfaction and discharge of this Indenture or for any other purpose, pay, or
by Company Order direct any Paying Agent to pay, to the Trustee all sums held
in trust by the Company or such Paying Agent, such sums to be held by the
Trustee upon the same trusts as those upon which such sums were held by the
Company or such Paying Agent; and, upon such payment by any Paying Agent to the
Trustee, such Paying Agent shall be released from all further liability with
respect to such money.

         Any money deposited with the Trustee or any Paying Agent, or then held
by the Company, in trust for the payment of the principal of or any premium or
interest on any Security of any series and remaining unclaimed for two years
after such principal, premium or interest has become due and payable shall be
paid to the Company on Company Request, or (if then held by the Company) shall
be discharged from such trust; and the Holder of such Security shall
thereafter, as an unsecured general creditor, look only to the Company for
payment thereof, and all liability of the Trustee or such Paying Agent with
respect to such trust money, and all liability of the Company as trustee
thereof, shall thereupon cease; provided, however, that the Trustee or such
Paying Agent, before being required to make any such repayment, may at the
expense of the Company cause to be published once, in a newspaper published in
the English language, customarily published on each Business Day and of general
circulation in each Place of Payment, notice that such money remains unclaimed
and that, after a date specified therein, which shall not be less than 30 days
from the date of such publication, any unclaimed balance of such money then
remaining will be repaid to the Company.

SECTION 1004.     Restrictions on Secured Debt.

         The Guarantor covenants and agrees for the benefit of each series of
Securities, other than any series established by or pursuant to a Board
Resolution, Officer's Certificate or in one or more supplemental indentures
hereto which specifically provides otherwise, that it will not itself, and will
not permit any Restricted Subsidiary to, incur, issue, assume, or guarantee any
loans, whether or not evidenced by negotiable instruments or securities, or any
notes, bonds, debentures or other similar evidences of indebtedness for money
borrowed (loans, and notes, bonds, debentures or other similar evidences of
indebtedness for money borrowed being hereinafter in this Section 1004 called
"Debt"), secured after the date hereof by pledge of, or mortgage or lien on,
any Principal Property of the Guarantor or any Restricted Subsidiary or any
shares of Capital Stock of or Debt of any Restricted Subsidiary (mortgages,
pledges and liens being hereinafter in

                                     -61-
<PAGE>

this Section 1004 called "Mortgage" or "Mortgages"), without effectively
providing that the Securities, other than Securities of a series not entitled
to the benefits of this covenant (together with, if the Guarantor shall so
determine, any other Debt of the Guarantor or such Restricted Subsidiary then
existing or thereafter created which is not subordinate to the Securities)
shall be secured equally and ratably with (or, at the option of the Guarantor,
prior to) such secured Debt, so long as such secured Debt shall be so secured,
unless, after giving effect thereto, the aggregate amount of all such secured
Debt would not exceed 10% of Consolidated Net Assets; provided, however, that
this Section 1004 shall not apply to, and there shall be excluded from secured
Debt in any computation under this Section 1004, Debt secured by:

         (1) Mortgages on property of, or on any shares of Capital Stock of or
         Debt of, any corporation existing at the time such corporation becomes
         a Restricted Subsidiary;

         (2) Mortgages in favor of the Guarantor or any Restricted Subsidiary;

         (3) Mortgages in favor of any governmental body to secure progress,
         advance or other payments pursuant to any contract or provision of any
         statute;

         (4) Mortgages on property, shares of Capital Stock or Debt existing at
         the time of acquisition thereof (including acquisition through merger
         or consolidation) or to secure the payment of all or any part of the
         purchase price thereof or construction thereon or to secure any Debt
         incurred prior to, at the time of, or within 360 days after the later
         of the acquisition of such property, shares of Capital Stock or Debt
         or the completion of construction for the purpose of financing all or
         any part of the purchase price thereof or construction thereon;

         (5) Mortgages securing obligations issued by a State, territory or
         possession of the United States, any political subdivision of any of
         the foregoing, or the District of Columbia, or any instrumentality of
         any of the foregoing to finance the acquisition or construction of
         property, and on which the interest is not, in the opinion of tax
         counsel of recognized standing or in accordance with a ruling issued
         by the Internal Revenue Service, includible in gross income of the
         holder by reason of Section 103 (a) (1) of the Internal Revenue Code
         (or any successor to such provision or any other similar statute of
         the United States) as in effect at the time of the issuance of such
         obligations;

         (6) Mechanics', materialmen's, carriers' or other like liens arising
         in the ordinary course of business (including construction of
         facilities) in respect of obligations which are not due or which are
         being contested in good faith;

         (7) Any mortgage arising by reason of deposits with, or the giving of
         any form of security to, any governmental agency or any body created
         or approved by law or governmental regulations, which is required by
         law or governmental regulation as a condition to the transaction of
         any business, or the exercise of any privilege, franchise or license;

                                     -62-
<PAGE>

         (8) Mortgages for taxes, assessments or governmental charges or levies
         not yet delinquent, or mortgages for taxes, assessments or
         governmental charges or levies already delinquent but the validity of
         which is being contested in good faith;

         (9) Mortgages (including judgment liens) arising in connection with
         legal proceedings so long as such proceedings are being contested in
         good faith and, in the case of judgment liens, execution thereon is
         stayed;

         (10) Mortgages existing at the date of this Indenture; and

         (11) Any extension, renewal or replacement (or successive extensions,
         renewals or replacements), as a whole or in part, of any mortgage
         referred to in the foregoing clauses (1) to (10), inclusive; provided,
         however, that such extension, renewal or replacement Mortgage shall be
         limited to all or part of the same property, shares of Capital Stock
         or Debt that secured the Mortgage extended, renewed or replaced (plus
         improvements on such property).

SECTION 1005.     Statement by Officer as to Default.

         The Company and the Guarantor will deliver to the Trustee, within 120
days after the end of each fiscal year of the Company ending after the date
hereof, an Officer's Certificate, complying with Section 314(a)(4) of the Trust
Indenture Act, stating whether or not to the best knowledge of the signers
thereof the Company or the Guarantor is in default in the performance and
observance of any of the terms, provisions and conditions of this Indenture or
the Guarantee (without regard to any period of grace or requirement of notice
provided hereunder) and, if the Company or the Guarantor shall be in default,
specifying all such defaults and the nature and status thereof of which they
may have knowledge.

SECTION 1006.     Existence.

         Subject to Article Eight, each of the Company and the Guarantor will
do or cause to be done all things necessary to preserve and keep in full force
and effect its existence, rights (charter and statutory) and franchises;
provided, however, that neither the Company nor the Guarantor shall be required
to preserve any such right or franchise if its Board of Directors shall
determine that the preservation thereof is no longer desirable in the conduct
of its business and that the loss thereof is not disadvantageous in any
material respect to the Holders.

SECTION 1007.     Maintenance of Properties.

         The Guarantor will cause all properties used or useful in the conduct
of its business or the business of any Restricted Subsidiary to be maintained
and kept in good condition, repair and working order and supplied with all
necessary equipment and will cause to be made all necessary repairs, renewals,
replacements, betterments and improvements thereof, all as in the judgment of
the Guarantor may be necessary so that the business carried on in connection
therewith may be properly and advantageously conducted at all times; provided,
however, that nothing in this Section shall prevent the Guarantor from
discontinuing the operation or maintenance of any of such properties if such
discontinuance is, in the judgment of the Guarantor, desirable in the conduct
of its business or the business of any Restricted Subsidiary and not
disadvantageous in any material respect to the Holders.

                                     -63-
<PAGE>

SECTION 1008.     Payment of Taxes and Other Claims.

         The Company will pay or discharge or cause to be paid or discharged,
before the same shall become delinquent, (1) all taxes, assessments and
governmental charges levied or imposed upon the Company or any Subsidiary or
upon the income, profits or property of the Company or any Subsidiary, and (2)
all lawful claims for labor, materials and supplies which, if unpaid, might by
law become a lien upon the property of the Company or any Subsidiary; provided,
however, that the Company shall not be required to pay or discharge or cause to
be paid or discharged any such tax, assessment, charge or claim whose amount,
applicability or validity is being contested in good faith by appropriate
proceedings.

SECTION 1009.     Waiver of Certain Covenants.

         Except as otherwise specified as contemplated by Section 301 for
Securities of such series, the Company may, with respect to the Securities of
any series, omit in any particular instance to comply with any term, provision
or condition set forth in any covenant provided pursuant to Section 301(17),
901(2) or 901(7) for the benefit of the Holders of such series or in Section
1004 or 1007, if before the time for such compliance the Holders of at least a
majority in principal amount of the Outstanding Securities of such series
shall, by Act of such Holders, either waive such compliance in such instance or
generally waive compliance with such term, provision or condition, but no such
waiver shall extend to or affect such term, provision or condition except to
the extent so expressly waived, and, until such waiver shall become effective,
the obligations of the Company and the duties of the Trustee in respect of any
such term, provision or condition shall remain in full force and effect.

SECTION 1010.     Registration Rights.

         Each of the Company and the Guarantor agrees that the Holders of
Original Securities are entitled to the benefits of the Registration Rights
Agreement, and each of the Company and the Guarantor covenants that it will
perform or cause to be performed all duties and obligations arising thereunder.
Other than the payment of Special Interest, the rights and remedies of the
Holders for a breach of this Section 1010 are set forth in the Registration
Rights Agreement. This Section 1010 shall not apply to Exchange Securities.

                                ARTICLE ELEVEN
                            REDEMPTION OF SECURITIES

SECTION 1101.     Applicability of Article.

         Securities of any series which are redeemable before their Stated
Maturity shall be redeemable in accordance with their terms and (except as
otherwise specified as contemplated by Section 301 for such Securities and in
the form of Security contemplated by Article Two) in accordance with this
Article.

SECTION 1102.     Election to Redeem; Notice to Trustee.

         The election of the Company to redeem any Securities shall be
evidenced by a Board Resolution or in another manner specified as contemplated
by Section 301 for such Securities. In case of any redemption at the election
of the Company of less than all the Securities of any series

                                     -64-
<PAGE>

(including any such redemption affecting only a single Security), the Company
shall, at least 60 days prior to the Redemption Date fixed by the Company
(unless a shorter notice shall be satisfactory to the Trustee), notify the
Trustee of such Redemption Date, the Redemption Price; including reasonable
detail as to its computation, of the principal amount of Securities of such
series to be redeemed and, if applicable, of the tenor of the Securities to be
redeemed. In the case of any redemption of Securities prior to the expiration
of any restriction on such redemption provided in the terms of such Securities
or elsewhere in this Indenture, the Company shall furnish the Trustee with an
Officer's Certificate evidencing compliance with such restriction.

SECTION 1103.     Selection by Trustee of Securities to Be Redeemed.

         If less than all the Securities of any series are to be redeemed
(unless all the Securities of such series and of a specified tenor are to be
redeemed or unless such redemption affects only a single Security), the
particular Securities to be redeemed shall be selected not more than 60 days
prior to the Redemption Date by the Trustee, from the Outstanding Securities of
such series not previously called for redemption, by such method as the Trustee
shall deem fair and appropriate and which may provide for the selection for
redemption of a portion of the principal amount of any Security of such series,
provided that the unredeemed portion of the principal amount of any Security
shall be in an authorized denomination (which shall not be less than the
minimum authorized denomination) for such Security. If less than all the
Securities of such series and of a specified tenor are to be redeemed (unless
such redemption affects only a single Security), the particular Securities to
be redeemed shall be selected not more than 60 days prior to the Redemption
Date by the Trustee, from the Outstanding Securities of such series and
specified tenor not previously called for redemption in accordance with the
preceding sentence.

         The Trustee shall promptly notify the Company in writing of the
Securities selected for redemption as aforesaid and, in case of any Securities
selected for partial redemption as aforesaid, the principal amount thereof to
be redeemed.

         The provisions of the two preceding paragraphs shall not apply with
respect to any redemption affecting only a single Security, whether such
Security is to be redeemed in whole or in part. In the case of any such
redemption in part, the unredeemed portion of the principal amount of the
Security shall be in an authorized denomination (which shall not be less than
the minimum authorized denomination) for such Security.

         For all purposes of this Indenture, unless the context otherwise
requires, all provisions relating to the redemption of Securities shall relate,
in the case of any Securities redeemed or to be redeemed only in part, to the
portion of the principal amount of such Securities which has been or is to be
redeemed.

SECTION 1104.     Notice of Redemption.

         Notice of redemption shall be given by first-class mail, postage
prepaid, mailed not less than 30 nor more than 60 days prior to the Redemption
Date, to each Holder of Securities to be redeemed, at his address appearing in
the Security Register.

         All notices of redemption shall state:

         (1) the Redemption Date,

                                     -65-
<PAGE>

         (2) the Redemption Price,

         (3) if less than all the Outstanding Securities of any series
         consisting of more than a single Security are to be redeemed, the
         identification (and, in the case of partial redemption of any such
         Securities, the principal amounts) of the particular Securities to be
         redeemed and, if less than all the Outstanding Securities of any
         series consisting of a single Security are to be redeemed, the
         principal amount of the particular Security to be redeemed,

         (4) that on the Redemption Date the Redemption Price will become due
         and payable upon each such Security to be redeemed and, if applicable,
         that interest thereon will cease to accrue on and after said date,

         (5) the place or places where each such Security is to be surrendered
         for payment of the Redemption Price, and

         (6) that the redemption is for a sinking fund, if such is the case.

         Notice of redemption of Securities to be redeemed at the election of
the Company shall be given by the Company or, at the Company's request, by the
Trustee in the name and at the expense of the Company and shall be irrevocable.

SECTION 1105.     Deposit of Redemption Price.

         Prior to any Redemption Date, the Company shall deposit with the
Trustee or with a Paying Agent (or, if the Company is acting as its own Paying
Agent, segregate and hold in trust as provided in Section 1003) an amount of
money sufficient to pay the Redemption Price of, and (except if the Redemption
Date shall be an Interest Payment Date) accrued interest on, all the Securities
which are to be redeemed on that date.

SECTION 1106.     Securities Payable on Redemption Date.

         Notice of redemption having been given as aforesaid, the Securities so
to be redeemed shall, on the Redemption Date, become due and payable at the
Redemption Price therein specified, and from and after such date (unless the
Company shall default in the payment of the Redemption Price and accrued
interest) such Securities shall cease to bear interest. Upon surrender of any
such Security for redemption in accordance with said notice, such Security
shall be paid by the Company at the Redemption Price, together with accrued
interest to the Redemption Date; provided, however, that, unless otherwise
specified as contemplated by Section 301, installments of interest whose Stated
Maturity is on or prior to the Redemption Date will be payable to the Holders
of such Securities, or one or more Predecessor Securities, registered as such
at the close of business on the relevant Record Dates according to their terms
and the provisions of Section 307.

         If any Security called for redemption shall not be so paid upon
surrender thereof for redemption, the principal and any premium shall, until
paid, bear interest from the Redemption Date at the rate prescribed therefor in
the Security.

                                     -66-
<PAGE>

SECTION 1107.     Securities Redeemed in Part.

         Any Security which is to be redeemed only in part shall be surrendered
at a Place of Payment therefor (with, if the Company or the Trustee so
requires, due endorsement by, or a written instrument of transfer in form
satisfactory to the Company and the Trustee duly executed by, the Holder
thereof or his attorney duly authorized in writing), and the Company shall
execute, and the Trustee shall authenticate and deliver to the Holder of such
Security without service charge, a new Security or Securities of the same
series and of like tenor, of any authorized denomination as requested by such
Holder, in aggregate principal amount equal to and in exchange for the
unredeemed portion of the principal of the Security so surrendered.

                                ARTICLE TWELVE
                                 SINKING FUNDS

SECTION 1201.     Applicability of Article

         The provisions of this Article shall be applicable to any sinking fund
for the retirement of Securities of any series except as otherwise specified as
contemplated by Section 301 for such Securities.

         The minimum amount of any sinking fund payment provided for by the
terms of any Securities is herein referred to as a "mandatory sinking fund
payment", and any payment in excess of such minimum amount provided for by the
terms of such Securities is herein referred to as an "optional sinking fund
payment". If provided for by the terms of any Securities, the cash amount of
any sinking fund payment may be subject to reduction as provided in Section
1202. Each sinking fund payment shall be applied to the redemption of
Securities as provided for by the terms of such Securities.

SECTION 1202.     Satisfaction of Sinking Fund Payments with Securities

         The Company (1) may deliver Outstanding Securities of a series (other
than any previously called for redemption) and (2) may apply as a credit
Securities of a series which have been redeemed either at the election of the
Company pursuant to the terms of such Securities or through the application of
permitted optional sinking fund payments pursuant to the terms of such
Securities, in each case in satisfaction of all or any part of any sinking fund
payment with respect to any Securities of such series required to be made
pursuant to the terms of such Securities as and to the extent provided for by
the terms of such Securities; provided that the Securities to be so credited
have not been previously so credited. The Securities to be so credited shall be
received and credited for such purpose by the Trustee at the Redemption Price,
as specified in the Securities so to be redeemed, for redemption through
operation of the sinking fund and the amount of such sinking fund payment shall
be reduced accordingly.

SECTION 1203.     Redemption of Securities for Sinking Fund

         Not less than 60 days prior to each sinking fund payment date for any
Securities, the Company will deliver to the Trustee an Officer's Certificate
specifying the amount of the next ensuing sinking fund payment for such
Securities pursuant to the terms of such Securities, the portion thereof, if
any, which is to be satisfied by payment of cash and the portion thereof, if
any, which is to be satisfied by delivering and crediting Securities pursuant
to Section 1202 and will

                                     -67-
<PAGE>

also deliver to the Trustee any Securities to be so delivered. Not less than 30
days prior to each such sinking fund payment date, the Trustee shall select the
Securities to be redeemed upon such sinking fund payment date in the manner
specified in Section 1103 and cause notice of the redemption thereof to be
given in the name of and at the expense of the Company in the manner provided
in Section 1104. Such notice having been duly given, the redemption of such
Securities shall be made upon the terms and in the manner stated in Sections
1106 and 1107.

                               ARTICLE THIRTEEN
                          GUARANTEE OF THE SECURITIES

SECTION 1301.     Guarantee.

         Subject to the provisions of this Article Thirteen, the Guarantor
hereby unconditionally guarantees, on an unsecured basis, to each Holder of a
Security authenticated and delivered by the Trustee and to the Trustee and its
successors, irrespective of the validity and enforceability of this Indenture,
the Securities or the obligations of the Company or any other Guarantor to the
Holders or the Trustee hereunder or thereunder, that: (a) the principal of (and
premium, if any) and interest on the Securities (including any Special
Interest, Defaulted Interest and other amounts, if any, payable) will be duly
and punctually paid in full when due, whether at maturity, by acceleration,
call for redemption, purchase or otherwise, and all obligations of the Company
or the Guarantor to the Holders or the Trustee hereunder or thereunder
(including amounts due the Trustee under Section 607 hereof) or under the
Securities (including fees, expenses or other disbursements) will be promptly
paid in full or performed, all in accordance with the terms hereof and thereof;
and (b) in case of any extension of time of payment or renewal of any
Securities or any of such other obligations, the same will be promptly paid in
full when due or performed in accordance with the terms of the extension or
renewal, whether at maturity, by acceleration, call for redemption, purchase or
otherwise (all such obligations guaranteed by the Guarantor, the "Guaranteed
Obligations"). The guarantees of the Guarantor under this Article Thirteen are
herein referred to as the "Guarantee". Failing payment when due of any amount
so guaranteed, or failing performance of any other obligation of the Company to
the Holders, for whatever reason, the Guarantor will be obligated to pay, or to
perform or cause the performance of, the same immediately. An Event of Default
under this Indenture or the Securities shall constitute an event of default
under this Guarantee the Holders of Securities or the Trustee to accelerate the
obligations of the Guarantor hereunder in the same manner and to the same
extent as the obligations of the Company.

         The Guarantor agrees to pay any and all fees and expenses (including
reasonable attorney's fees and expenses) incurred by the Trustee or the Holders
in enforcing any rights under this Article Thirteen with respect to the
Guarantor.

         Without limiting the generality of the foregoing, this Guarantee
guarantees, to the extent provided herein, the payment of all amounts that
constitute part of the Guaranteed Obligations and would be owed by the Company
under this Indenture or the Securities but for the fact that they are
unenforceable or not allowable due to the existence of a bankruptcy,
reorganization or similar proceeding involving the Company.

                                     -68-
<PAGE>

         No stockholder, officer, director, employee or incorporator, past,
present or future, of any Guarantor, as such, shall have any personal liability
under this Guarantee by reason of his, her or its status as such stockholder,
officer, director, employee or incorporator.

SECTION 1302.     Execution and Delivery of Guarantee.

         The Guarantee to be endorsed on the Securities shall include the terms
of the Guarantees set forth in this Article Thirteen and any other terms that
may be set forth in the form established pursuant to Section 206. The Guarantor
hereby agrees to execute the Guarantee in the form established pursuant to
Section 206, to be endorsed on each Security authenticated and delivered by the
Trustee.

         The Guarantee shall be executed on behalf of the Guarantor by an
Officer of the Guarantor. The signature of such Officer on the Guarantee may be
manual or facsimile.

         A Guarantee bearing the manual or facsimile signature of an individual
who was at any time the proper officer of the Guarantor shall bind the
Guarantor, notwithstanding that such individual has ceased to hold such office
prior to the authentication and delivery of the Security on which such
Guarantee is endorsed or did not hold such office at the date of such
Guarantee.

         The delivery of any Security by the Trustee, after the authentication
thereof hereunder, shall constitute due delivery of the Guarantee endorsed
thereon on behalf of the Guarantor. The Guarantor hereby agrees that its
respective Guarantee set forth in Section 1301 shall remain in full force and
effect notwithstanding any failure to endorse a Guarantee on any Security.

SECTION 1303.     Obligations of the Guarantor Unconditional.

         Nothing contained in this Article Thirteen or elsewhere in this
Indenture or in any Security is intended to or shall impair, as between the
Guarantor and the Holders and the Trustee, the obligation of the Guarantor,
which is absolute and unconditional, to pay to the Holders and the Trustee the
principal of (and premium, if any) and interest (including Special Interest,
Defaulted Interest and other amounts, if any, payable) on the Securities (and
to the Trustee amounts due under Section 607) as and when the same shall become
due and payable in accordance with the provisions of this Guarantee, nor shall
anything herein or therein prevent the Trustee or any Holder from exercising
all remedies otherwise permitted by applicable law upon Default under this
Indenture. Without limiting the generality of the foregoing, it is agreed that
the occurrence of any one or more of the following shall not affect the
liability of any Guarantor hereunder:

         (a) the lack of validity, regularity or enforceability of this
Indenture or the Securities with respect to the Company or the agreement or
instrument relating thereto;

         (b) any change in the time, manner or place of payment of, or in any
other term of any of the Guaranteed Obligations, or any other amendment or
waiver of or any consent to departure from this Indenture;

         (c) any amendment or modification of or deletion from or addition or
supplement to or other change in the Guarantee, the Indenture or the Securities
or any other instrument or agreement applicable to any of the parties to the
Guarantee, the Indenture or the Securities;

                                     -69-
<PAGE>

         (d) any furnishing or acceptance of any security or any guarantee or
other liability of any Subsidiary or any other party, or any release of any
security or any guarantee or other liability of any Subsidiary or any other
party, for the Guarantee Obligations, or the failure of any security or any
guarantee or other liability of any Subsidiary or any other party or the
failure of any Person to perfect any interest in any collateral;

         (e) any failure, omission or delay on the part of the Company, to
conform or comply with any term of the Indenture or the Securities or any other
instrument or agreement referred to in paragraph (a) above, including, without
limitation, failure to give notice to the Guarantor or the Trustee of the
occurrence of an Event of Default;

         (f) any waiver of the payment, performance or observance of any of the
obligations, conditions, covenants or agreements contained in the Guarantee,
the Indenture or the Securities, or any other waiver, consent, extension,
indulgence, compromise, settlement, release or other action or inaction under
or in respect of the Guarantee, the Indenture or the Securities or any other
instrument or agreement referred to in paragraph (a) above or any obligation or
liability of the Company, or any exercise or non-exercise of any right, remedy,
power or privilege under or in respect of any such instrument or agreement or
any such obligation or liability;

         (g) any failure, omission or delay on the part of the Trustee or any
Holder of Securities to enforce, assert, exercise or continue exercising any
right, power or remedy conferred on it in the Guarantee or the Indenture, or
any such failure, omission or delay on the part of the Trustee or any Holder of
Securities in connection with the Guarantee, the Indenture or the Securities,
or any other action on the part of the Trustee or any Holder of Securities;

         (h) the assignment of any right, title or interest of the Trustee or
any Holder in this Indenture or the Securities to any other Person;

         (i) any voluntary or involuntary bankruptcy, insolvency, suspension of
payments, reorganization, arrangement, readjustment, assignment for the benefit
of creditors, receivership, liquidation or similar proceedings with respect to
the Company, the Guarantor or any other Person or any of their respective
properties or creditors, or any action taken by any trustee, receiver or
sindico or by any court in any such proceeding;

         (j) any limitation on the liability or obligations of the Company or
any other Person under the Guarantee, the Indenture or the Securities, or any
partial discharge, cancellation or unenforceability of the Guarantee, the
Indenture or the Securities or any other agreement or instrument referred to in
paragraph (c) above or any term hereof, to the extent not mutually agreed upon
by the parties hereto;

         (k) any merger or consolidation of the Company or the Guarantor into
or with any other corporation or any sale, lease or transfer of any of the
assets of the Company or any Guarantor to any other Person;

         (l) any change in the ownership of any shares of capital stock of the
Guarantor, or any change in the corporate relationship between the Company and
the Guarantor, or any termination of such relationship, or any change in the
corporate existence, structure, or ownership of the Company;

                                     -70-
<PAGE>

         (m) any release or discharge, by operation of law, of the Guarantor
from the performance or observance of any obligation, covenant or agreement
contained in the Guarantee, the Indenture or the Securities;

         (n) any action, failure, omission or delay on the part of the Trustee
or any Holder of Securities that may impede any Guarantor from acquiring or
subrogating such Holder's or Trustee's rights or benefits; or

         (o) any other occurrence, circumstance, happening or event whatsoever,
whether similar or dissimilar to the foregoing, whether foreseen or unforeseen,
and any other circumstance that might otherwise constitute a legal defense or
discharge of the liabilities of the Guarantor or that might otherwise limit
recourse against the Guarantor; it being the intent of the Guarantor that its
obligations hereunder shall not be discharged except by payment of all amounts
owing pursuant to this Indenture or the Securities.

         The Guarantee shall continue to be effective or be reinstated, as the
case may be, if at any time any payment or performance with respect to any of
the Guaranteed Obligations is rescinded or must otherwise be returned by the
Trustee, any Holder or any other Person upon the insolvency, bankruptcy or
reorganization of the Company or otherwise, all as though such payment or
performance had not been made or occurred. In the event that any payment, or
any part thereof, is rescinded or must otherwise be returned, the Guaranteed
Obligations shall be reinstated and deemed reduced only by such amount paid and
not so rescinded or returned. The obligations of the Guarantor under the
Guarantee shall not be subject to reduction, termination or other impairment by
any set-off, recoupment, counterclaim or defense or for any other reason.

SECTION 1304.     Waivers.

         The Guarantor hereby irrevocably waives, to the extent permitted by
applicable law:

         (a) promptness, demand for payment, diligence, presentment, notice of
acceptance and any other notice with respect to any of the Guarantee
Obligations and the Guarantee;

         (b) any requirement that the Trustee, any Holder or any other Person
protect, secure, perfect or insure any Lien or any property subject thereto or
exhaust any right, sue or take any action against the Company or any other
Person, or obtain any relief pursuant to this Indenture or pursue any other
available remedy prior to making a claim against any Guarantor hereunder;

         (c) filing of claims with a court in the event of insolvency or
bankruptcy of the Company, any right to require a proceeding first against the
Company, protest or notice with respect to such Security or the Indebtedness
evidenced thereby and all demands whatsoever;

         (d) any defense arising by reason of any claim or defense based upon
an election of remedies by the Trustee or any Holder that in any manner
impairs, reduces, releases or otherwise adversely affects its subrogation,
contribution or reimbursement rights or other rights to proceed against the
Company or any other Person;

                                     -71-
<PAGE>

         (e) any right to which it may be entitled to have the assets of the
Company first be used as payment of the Company's or the Guarantor's
obligations hereunder prior to any amounts being claimed from or paid by such
Guarantor hereunder;

         (f) any duty on the part of the Trustee or any Holder to disclose to
such Guarantor any matter, fact or thing relating to the business, operation or
condition of the Company and its assets now known or hereafter known by the
Trustee or such Holder; or

SECTION 1305.     Waiver of Subrogation and Contribution.

         The Guarantor hereby irrevocably waives any claim or other right that
it may now or hereafter acquire against the Company that arises from the
existence, payment, performance or enforcement of such Guarantor's obligations
under this Guarantee and this Indenture, including, without limitation, any
right of subrogation, reimbursement, exoneration, contribution,
indemnification, and any right to participate in any claim or remedy of the
Trustee or any Holder of Securities against the Company, whether or not such
claim, remedy or right arises in equity, or under contract, statute or common
law, including, without limitation, the right to take or receive from the
Company, directly or indirectly, in cash or other property or by set-off or in
any other manner, payment or Security on account of such claim or other rights.
If any amount shall be paid to the Guarantor in violation of the preceding
sentence and the Securities shall not have been paid in full, such amount shall
have been deemed to have been paid to such Guarantor for the benefit of, and
held in trust for the benefit of, the Holders of the Securities, and shall
forthwith be paid to the Trustee for the benefit of such Holders to be credited
and applied upon the Securities, whether matured or unmatured, in accordance
with the terms of this Indenture. The Guarantor acknowledges that it will
receive direct and indirect benefits from the financing arrangements
contemplated by this Indenture and that the waiver set forth in this Section
1305 is knowingly made in contemplation of such benefits.

         The Guarantor agrees that it shall not be entitled to any right of
subrogation in relation to the Holders in respect of any Guaranteed Obligations
until payment in full of all Guaranteed Obligations. The Guarantor further
agrees that, as between itself, on the one hand, and the Holders and the
Trustee, on the other hand, (x) the maturity of the Guaranteed Obligations may
be accelerated as provided in Article Five hereof for the purposes of this
Guarantee, notwithstanding any stay, injunction or other prohibition preventing
such acceleration in respect of the Guaranteed Obligations, and (y) in the
event of any declaration of acceleration of the Guarantee Obligations as
provided in Article Five hereof, the Guaranteed Obligations (whether or not due
and payable) shall forthwith become due and payable by such Guarantor for the
purpose of this Guarantee.

SECTION 1306.     Certain Agreements.

         The Guarantor covenants and agrees that, as a condition to the
acceptability of the Guarantee to the Trustee and the Holders, it will:

         (a) preserve and maintain its existence, rights (contractual and
statutory) and franchises; provided, however, that the Guarantor shall not be
required to preserve any right or franchise if the board of directors of the
Guarantor shall determine that the preservation thereof is no longer

                                     -72-
<PAGE>

desirable in the conduct of the business of the Guarantor and the loss thereof
is not disadvantageous in any material respect to the Guarantor or such
Holders; and

         (b) not consolidate with or merge with or into (whether or not such
Guarantor is the surviving Person) another Person whether or not affiliated
with the Guarantor unless:

                  (i) the Person formed by or surviving any such consolidation,
unless such successor entity is the Company or the Guarantor, unconditionally
assumes all the obligations of the Guarantor, pursuant to a supplemental
indenture in form and substance satisfactory to the Trustee, under the
Securities, the Indenture and the Guarantee on the terms set forth herein or
therein; and

                  (ii) immediately after giving effect to such transaction, no
default or Event of Default exists.

         Any such consolidation, merger, sale, lease or conveyance is subject
to the condition that the Trustee receive an Officer's Certificate of the
Guarantor and an Opinion of Counsel to the effect that the merger, sale, lease
or conveyance, and the assumption by any successor entity, complies with the
provisions of this Article and that all conditions precedent herein provided
for relating to such transactions have been complied with.

         In case of any such consolidation, merger, sale or conveyance and upon
the assumption by the successor Person, by supplemental indenture, executed and
delivered to the Trustee and satisfactory in form to the Trustee, of the
Guarantee endorsed upon the Securities and the due and punctual performance of
all of the covenants and conditions of this Indenture to be performed by the
Guarantor, such successor Person shall succeed to and be substituted for the
Guarantor with the same effect as if it had been named herein as the Guarantor.
Such Guarantor's Guarantee shall in all respects have the same legal rank and
benefit under this Indenture theretofore and thereafter issued in accordance
with the terms of this Indenture as though such Guarantee had been issued at
the date of the execution hereof.

SECTION 1307.     No Waiver; Cumulative Remedies.

         No failure on the part of the Trustee or any Holder to exercise, and
no delay in exercising, any right hereunder shall operate as a waiver thereof;
nor shall any single or partial exercise of any right hereunder preclude any
other or further exercise thereof or the exercise of any other right. The
remedies herein provided are cumulative and not exclusive of any remedies
provided by law. The Trustee and the Holders shall have all of the rights and
remedies granted in this Indenture and available at law or in equity, and these
same rights and remedies may be pursued separately, successively or
concurrently against the Company or the Guarantor.

SECTION 1308.     Continuing Guarantee.

         The Guarantee is a continuing guarantee and, except as otherwise
provided herein, shall (a) remain in full force and effect until the
satisfaction of the Guaranteed Obligations, (b) be binding upon the Guarantor
and (c) inure to the benefit of and be enforceable by the Trustee, the Holders
and their successors, transferees and assigns.

                                     -73-
<PAGE>

                               ARTICLE FOURTEEN
                       DEFEASANCE AND COVENANT DEFEASANCE

SECTION 1401.     Company's Option to Effect Defeasance or Covenant Defeasance.

         The Company may elect, at its option at any time, to have Section 1402
or Section 1403 applied to any Securities or any series of Securities, as the
case may be, designated pursuant to Section 301 as being defeasible pursuant to
such Section 1402 or 1403, in accordance with any applicable requirements
provided pursuant to Section 301 and upon compliance with the conditions set
forth below in this Article. Any such election shall be evidenced by a Board
Resolution or in another manner specified as contemplated by Section 301 for
such Securities.

SECTION 1402.     Defeasance and Discharge.

         Upon the Company's exercise of its option (if any) to have this
Section applied to any Securities or any series of Securities, as the case may
be, the Company shall be deemed to have been discharged from its obligations
with respect to such Securities as provided in this Section on and after the
date the conditions set forth in Section 1404 are satisfied (hereinafter called
"Defeasance"). For this purpose, such Defeasance means that the Company shall
be deemed to have paid and discharged the entire indebtedness represented by
such Securities and to have satisfied all its other obligations under such
Securities and this Indenture insofar as such Securities are concerned (and the
Trustee, at the expense of the Company, shall execute proper instruments
acknowledging the same), subject to the following which shall survive until
otherwise terminated or discharged hereunder: (1) the rights of Holders of such
Securities to receive, solely from the trust fund described in Section 1404 and
as more fully set forth in such Section, payments in respect of the principal
of and any premium and interest on such Securities when payments are due, (2)
the Company's obligations with respect to such Securities under Sections 304,
305, 306, 1002 and 1003, (3) the rights, powers, trusts, duties and immunities
of the Trustee hereunder and (4) this Article. Subject to compliance with this
Article, the Company may exercise its option (if any) to have this Section
applied to any Securities notwithstanding the prior exercise of its option (if
any) to have Section 1403 applied to such Securities.

SECTION 1403.     Covenant Defeasance.

         Upon the Company's exercise of its option (if any) to have this
Section applied to any Securities or any series of Securities, as the case may
be, (1) the Company and the Guarantor shall be released from their obligations
under Sections 1004 and 1007 and any covenants provided pursuant to Section
301(17), 901(2) or 901(7) for the benefit of the Holders of such Securities,
and (2) the occurrence of any event specified in Sections 501(4) (with respect
to any of Sections 1004 and 1007 and any such covenants provided pursuant to
Section 301(17), 901(2) or 901(7)), and 501(7) shall be deemed not to be or
result in an Event of Default, in each case with respect to such Securities as
provided in this Section on and after the date the conditions set forth in
Section 1404 are satisfied (hereinafter called "Covenant Defeasance"). For this
purpose, such Covenant Defeasance means that, with respect to such Securities,
the Company and the Guarantor may omit to comply with and shall have no
liability in respect of any term, condition or limitation set forth in any such
specified Section (to the extent so specified in the case of Section 501(4)),
whether directly or indirectly by reason of any reference elsewhere herein to
any

                                     -74-
<PAGE>

such Section or by reason of any reference in any such Section to any other
provision herein or in any other document, but the remainder of this Indenture
and such Securities shall be unaffected thereby.

SECTION 1404.     Conditions to Defeasance or Covenant Defeasance.

         The following shall be the conditions to the application of Section
1402 or Section 1403 to any Securities or any series of Securities, as the case
may be:

         (1) The Company shall irrevocably have deposited or caused to be
         deposited with the Trustee (or another trustee which satisfies the
         requirements contemplated by Section 609 and agrees to comply with the
         provisions of this Article applicable to it) as trust funds in trust
         for the purpose of making the following payments, specifically pledged
         as security for, and dedicated solely to, the benefits of the Holders
         of such Securities, (A) money in an amount, or (B) U.S. Government
         Obligations which through the scheduled payment of principal and
         interest in respect thereof in accordance with their terms will
         provide, not later than one day before the due date of any payment,
         money in an amount, or (C) a combination thereof, in each case
         sufficient, in the opinion of a nationally recognized firm of
         independent public accountants expressed in a written certification
         thereof delivered to the Trustee, to pay and discharge, and which
         shall be applied by the Trustee (or any such other qualifying trustee)
         to pay and discharge, the principal of and any premium and interest on
         such Securities on the respective Stated Maturities, in accordance
         with the terms of this Indenture and such Securities. As used herein,
         "U.S. Government Obligation" means (x) any security which is (i) a
         direct obligation of the United States of America for the payment of
         which the full faith and credit of the United States of America is
         pledged or (ii) an obligation of a Person controlled or supervised by
         and acting as an agency or instrumentality of the United States of
         America the payment of which is unconditionally guaranteed as a full
         faith and credit obligation by the United States of America, which, in
         either case (i) or (ii), is not callable or redeemable at the option
         of the issuer thereof, and (y) any depositary receipt issued by a bank
         (as defined in Section 3(a)(2) of the Securities Act) as custodian
         with respect to any U.S. Government Obligation which is specified in
         Clause (x) above and held by such bank for the account of the holder
         of such depositary receipt, or with respect to any specific payment of
         principal of or interest on any U.S. Government Obligation which is so
         specified and held, provided that (except as required by law) such
         custodian is not authorized to make any deduction from the amount
         payable to the holder of such depositary receipt from any amount
         received by the custodian in respect of the U.S. Government Obligation
         or the specific payment of principal or interest evidenced by such
         depositary receipt.

         (2) In the event of an election to have Section 1402 apply to any
         Securities or any series of Securities, as the case may be, the
         Company shall have delivered to the Trustee an Opinion of Counsel
         stating that (A) the Company has received from, or there has been
         published by, the Internal Revenue Service a ruling or (B) since the
         date of this instrument, there has been a change in the applicable
         Federal income tax law, in either case (A) or (B) to the effect that,
         and based thereon such opinion shall confirm that, the Holders of such
         Securities will not recognize gain or loss for Federal income tax
         purposes as a result of the deposit, Defeasance and discharge to be
         effected with respect to such Securities and will be subject to
         Federal income tax on the same amount, in the same

                                     -75-
<PAGE>

         manner and at the same times as would be the case if such deposit,
         Defeasance and discharge were not to occur.

         (3) In the event of an election to have Section 1403 apply to any
         Securities or any series of Securities, as the case may be, the
         Company shall have delivered to the Trustee an Opinion of Counsel to
         the effect that the Holders of such Securities will not recognize gain
         or loss for Federal income tax purposes as a result of the deposit and
         Covenant Defeasance to be effected with respect to such Securities and
         will be subject to Federal income tax on the same amount, in the same
         manner and at the same times as would be the case if such deposit and
         Covenant Defeasance were not to occur.

         (4) The Company shall have delivered to the Trustee an Officer's
         Certificate to the effect that neither such Securities nor any other
         Securities of the same series, if then listed on any securities
         exchange, will be delisted as a result of such deposit.

         (5) No event which is, or after notice or lapse of time or both would
         become, an Event of Default with respect to such Securities or any
         other Securities shall have occurred and be continuing at the time of
         such deposit or, with regard to any such event specified in Sections
         501(6) and (7), at any time on or prior to the 90th day after the date
         of such deposit (it being understood that this condition shall not be
         deemed satisfied until after such 90th day).

         (6) Such Defeasance or Covenant Defeasance shall not cause the Trustee
         to have a conflicting interest within the meaning of the Trust
         Indenture Act (assuming all Securities are in default within the
         meaning of such Act).

         (7) Such Defeasance or Covenant Defeasance shall not result in a
         breach or violation of, or constitute a default under, any other
         agreement or instrument to which the Company is a party or by which it
         is bound.

         (8) Such Defeasance or Covenant Defeasance shall not result in the
         trust arising from such deposit constituting an investment company
         within the meaning of the Investment Company Act unless such trust
         shall be registered under such Act or exempt from registration
         thereunder.

         (9) The Company shall have delivered to the Trustee an Officer's
         Certificate and an Opinion of Counsel, each stating that all
         conditions precedent with respect to such Defeasance or Covenant
         Defeasance have been complied with.

SECTION 1405.     Deposited Money and U.S. Government Obligations to Be Held
                  in Trust; Miscellaneous Provisions.

         Subject to the provisions of the last paragraph of Section 1003, all
money and U.S. Government Obligations (including the proceeds thereof)
deposited with the Trustee or other qualifying trustee (solely for purposes of
this Section and Section 1406, the Trustee and any such other trustee are
referred to collectively as the "Trustee") pursuant to Section 1404 in respect
of any Securities shall be held in trust and applied by the Trustee, in
accordance with the provisions of such Securities and this Indenture, to the
payment, either directly or through any such Paying Agent (including the
Company acting as its own Paying Agent) as the Trustee may determine, to

                                     -76-
<PAGE>

the Holders of such Securities, of all sums due and to become due thereon in
respect of principal and any premium and interest, but money so held in trust
need not be segregated from other funds except to the extent required by law.

         The Company shall pay and indemnify the Trustee against any tax, fee
or other charge imposed on or assessed against the U.S. Government Obligations
deposited pursuant to Section 1404 or the principal and interest received in
respect thereof other than any such tax, fee or other charge which by law is
for the account of the Holders of Outstanding Securities.

         Anything in this Article to the contrary notwithstanding, the Trustee
shall deliver or pay to the Company from time to time upon Company Request any
money or U.S. Government Obligations held by it as provided in Section 1404
with respect to any Securities which, in the opinion of a nationally recognized
firm of independent public accountants expressed in a written certification
thereof delivered to the Trustee, are in excess of the amount thereof which
would then be required to be deposited to effect the Defeasance or Covenant
Defeasance, as the case may be, with respect to such Securities.

SECTION 1406.      Reinstatement.

         If the Trustee or the Paying Agent is unable to apply any money in
accordance with this Article with respect to any Securities by reason of any
order or judgment of any court or governmental authority enjoining, restraining
or otherwise prohibiting such application, then the obligations under this
Indenture and such Securities from which the Company has been discharged or
released pursuant to Section 1402 or 1403 shall be revived and reinstated as
though no deposit had occurred pursuant to this Article with respect to such
Securities, until such time as the Trustee or Paying Agent is permitted to
apply all money held in trust pursuant to Section 1405 with respect to such
Securities in accordance with this Article; provided, however, that if the
Company makes any payment of principal of or any premium or interest on any
such Security following such reinstatement of its obligations, the Company
shall be subrogated to the rights (if any) of the Holders of such Securities to
receive such payment from the money so held in trust.

                                     -77-
<PAGE>

         IN WITNESS Whereof, the parties hereto have caused this Indenture to
be duly executed, all as of the day and year first above written.

                                                H.J. HEINZ FINANCE COMPANY,
                                                     as Issuer

                                                By /s/ Leonard A. Cullo, Jr.
                                                  -----------------------------

                                                H. J. HEINZ COMPANY,
                                                      as Guarantor

                                                By /s/ Leonard A. Cullo, Jr.
                                                  -----------------------------

                                                BANK ONE, NATIONAL ASSOCIATION,
                                                      as Trustee

                                                By /s/ Keith Richardson
                                                  -----------------------------

                                     -78-
<PAGE>

                                                              ANNEX A - Form of
                                                       Regulation S Certificate

                            REGULATION S CERTIFICATE

                 (For transfers pursuant toss.305(b)(i) and (v)
                               of the Indenture)

Bank One, National Association
1 Bank One Plaza
Chicago, Illinois  60670-0126

Re: [Insert Title of Securities] of H.J. Heinz Finance Company
    (the "Securities")

         Reference is made to the Indenture, dated as of July 6, 2001 (the
"Indenture"), between H.J. Heinz Finance Company (the "Company"), H. J. Heinz
Company (the "Guarantor") and Bank One, National Association, as Trustee. Terms
used herein and defined in the Indenture or in Regulation S or Rule 144 under
the U.S. Securities Act of 1933, as amended (the "Securities Act") are used
herein as so defined.

         This certificate relates to U.S. $__________ principal amount of
Securities, which are evidenced by the following certificate(s) (the "Specified
Securities"):

                  CUSIP No(s). ________________________

                  CERTIFICATE No(s). __________________

         The person in whose name this certificate is executed below (the
"Undersigned") hereby certifies that either (i) it is the sole beneficial owner
of the Specified Securities or (ii) it is acting on behalf of all the
beneficial owners of the Specified Securities and is duly authorized by them to
do so. Such beneficial owner or owners are referred to herein collectively as
the "Owner". If the Specified Securities are represented by a Global Security,
they are held through the Depositary or an Agent Member in the name of the
Undersigned, as or on behalf of the Owner. If the Specified Securities are not
represented by a Global Security, they are registered in the name of the
Undersigned, as or on behalf of the Owner.

         The Owner has requested that the Specified Securities be transferred
to a person (the "Transferee") who will take delivery in the form of a
Regulation S Security. In connection with such transfer, the Owner hereby
certifies that, unless such transfer is being effected pursuant to an effective
registration statement under the Securities Act, it is being effected in
accordance with Rule 904 or Rule 144 under the Securities Act and with all
applicable securities laws of the states of the United States and other
jurisdictions. Accordingly, the Owner hereby further certifies as follows:

         (1) Rule 904 Transfers. If the transfer is being effected in
accordance with Rule 904;

<PAGE>

          (A) the Owner is not a distributor of the Securities, an affiliate of
     the Company or any such distributor or a person acting on behalf of any of
     the foregoing;

          (B) the offer of the Specified Securities was not made to a person in
     the United States;

          (C) either:

               (i) at the time the buy order was originated, the Transferee was
          outside the United States or the Owner and any person acting on its
          behalf reasonably believed that the Transferee was outside the United
          States, or

               (ii) the transaction is being executed in, on or through the
          facilities of the Eurobond market, as regulated by the Association of
          International Bond Dealers, or another designated offshore securities
          market and neither the Owner nor any person acting on its behalf
          knows that the transaction has been prearranged with a buyer in the
          United States;

          (D) no directed selling efforts have been made in the United States
     by or on behalf of the Owner or any affiliate thereof;

          (E) if the Owner is a dealer in securities or has received a selling
     concession, fee or other remuneration in respect of the Specified
     Securities, and the transfer is to occur during the Restricted Period,
     then the requirements of Rule 904(c)(1) have been satisfied; and

          (F) the transaction is not part of a plan or scheme to evade the
     registration requirements of the Securities Act.

         (2) Rule 144 Transfers. If the transfer is being effected pursuant to
Rule 144:

          (A) the transfer is occurring after a holding period of at least one
     year (computed in accordance with paragraph (d) of Rule 144) has elapsed
     since the Specified Securities were last acquired from the Company or from
     an affiliate of the Company, whichever is later, and is being effected in
     accordance with the applicable amount, manner of sale and notice
     requirements of Rule 144; or

          (B) the transfer is occurring after a holding period of at least two
     years has elapsed since the Specified Securities were last acquired from
     the Company or from an affiliate of the Company, whichever is later, and
     the Owner is not, and during the preceding three months has not been, an
     affiliate of the Company.

                                      A-2
<PAGE>

         This certificate and the statements contained herein are made for your
benefit and the benefit of the Company and the Purchasers.

         Dated:
                           --------------------------
                           (Print the name of the Undersigned,
                           as such term is defined in the
                           second paragraph of this certificate.)

                  By:
                           --------------------------
                           Name:
                           Title:

         (If the Undersigned is a corporation, partnership or fiduciary, the
         title of the person signing on behalf of the Undersigned must be
         stated.)

                                      A-3
<PAGE>

                                                   ANNEX B - Form of Restricted
                                                         Securities Certificate

                       RESTRICTED SECURITIES CERTIFICATE

             (For transfers pursuant toss.305(b)(ii), (iii) and (v)
                               of the Indenture)

Bank One, National Association
1 Bank One Plaza
Chicago, Illinois  60670-0126

Re: [Insert Title of Securities] of H.J. Heinz Finance Company
    (the "Securities")

         Reference is made to the Indenture, dated as of July 6, 2001 (the
"Indenture"), between H.J. Heinz Finance Company (the "Company"), H. J. Heinz
Company (the "Guarantor") and Bank One, National Association, as Trustee. Terms
used herein and defined in the Indenture or in Regulation S or Rule 144 under
the U.S. Securities Act of 1933, as amended (the "Securities Act") are used
herein as so defined.

         This certificate relates to U.S. $ ___________ principal amount of
Securities, which are evidenced by the following certificate(s) (the "Specified
Securities"):

                  CUSIP No(s). ________________________

                  CERTIFICATE No(s). __________________

         The person in whose name this certificate is executed below (the
"Undersigned") hereby certifies that either (i) it is the sole beneficial owner
of the Specified Securities or (ii) it is acting on behalf of all the
beneficial owners of the Specified Securities and is duly authorized by them to
do so. Such beneficial owner or owners are referred to herein collectively as
the "Owner". If the Specified Securities are represented by the Global
Security, they are held through the Depositary or an Agent Member in the name
of the Undersigned, as or on behalf of the Owner. If the Specified Securities
are not represented by a Global Security, they are registered in the name of
the Undersigned, as or on behalf of the Owner.

         The Owner has requested that the Specified Securities be transferred
to a person (the "Transferee") who will take delivery in the form of a
Restricted Security. In connection with such transfer, the Owner hereby
certifies that, unless such transfer is being effected pursuant to an effective
registration statement under the Securities Act, it is being effected in
accordance with Rule 144A or Rule 144 under the Securities Act and all
applicable securities laws of the states of the United States and other
jurisdictions. Accordingly, the Owner hereby further certifies as follows:

         (1) Rule 144A Transfers. If the transfer is being effected in
accordance with Rule 144A:

          (A) the Specified Securities are being transferred to a person that
     the Owner and any person acting on its behalf reasonably believe is a
     "qualified institutional buyer" within the meaning of Rule 144A, acquiring
     for its own account or for the account of a qualified institutional buyer;
     and

                                      B-1
<PAGE>

          (B) the Owner and any person acting on its behalf have taken
     reasonable steps to ensure that the Transferee is aware that the Owner may
     be relying on Rule 144A in connection with the transfer; and

         (2) Rule 144 Transfers. If the transfer is being effected pursuant to
Rule 144:

          (A) the transfer is occurring after a holding period of at least one
     year (computed in accordance with paragraph (d) of Rule 144) has elapsed
     since the Specified Securities were last acquired from the Company or from
     an affiliate of the Company, whichever is later, and is being effected in
     accordance with the applicable amount, manner of sale and notice
     requirements of Rule 144; or

          (B) the transfer is occurring after a holding period of at least two
     years has elapsed since the Specified Securities were last acquired from
     the Company or from an affiliate of the Company, whichever is later, and
     the Owner is not, and during the preceding three months has not been, an
     affiliate of the Company.

         This certificate and the statements contained herein are made for your
benefit and the benefit of the Company and the Purchasers.

         Dated:
                           --------------------------
                           (Print the name of the Undersigned,
                           as such term is defined in the
                           second paragraph of this certificate.)

                  By:
                           --------------------------
                           Name:
                           Title:

         (If the Undersigned is a corporation, partnership or fiduciary, the
         title of the person signing on behalf of the Undersigned must be
         stated.)

                                      B-2
<PAGE>

                                                 ANNEX C - Form of Unrestricted
                                                         Securities Certificate

                      UNRESTRICTED SECURITIES CERTIFICATE

 (For removal of Securities Act Legends pursuant toss.305(c) of the Indenture)

Bank One, National Association
1 Bank One Plaza
Chicago, Illinois  60670-0126

Re: [Insert Title of Securities] of H.J. Heinz Finance Company
    (the "Securities")

         Reference is made to the Indenture, dated as of July 6, 2001 (the
"Indenture"), between H.J. Heinz Finance Company (the "Company"), H. J. Heinz
Company (the "Guarantor") and Bank One, National Association, as Trustee. Terms
used herein and defined in the Indenture or in Regulation S or Rule 144 under
the U.S. Securities Act of 1933, as amended (the "Securities Act") are used
herein as so defined.

         This certificate relates to U.S. $_____________ principal amount of
Securities, which are evidenced by the following certificate(s) (the "Specified
Securities"):

         CUSIP No(s). ___________________________

         CERTIFICATE No(s). _____________________

         The person in whose name this certificate is executed below (the
"Undersigned") hereby certifies that either (i) it is the sole beneficial owner
of the Specified Securities or (ii) it is acting on behalf of all the
beneficial owners of the Specified Securities and is duly authorized by them to
do so. Such beneficial owner or owners are referred to herein collectively as
the "Owner". If the Specified Securities are represented by a Global Security,
they are held through the Depositary or an Agent Member in the name of the
Undersigned, as or on behalf of the Owner. If the Specified Securities are not
represented by a Global Security, they are registered in the name of the
Undersigned, as or on behalf of the Owner.

         The Owner has requested that the Specified Securities be exchanged for
Securities bearing no Securities Act Legend pursuant to Section 305(c) of the
Indenture. In connection with such exchange, the Owner hereby certifies that
the exchange is occurring after a holding period of at least two years
(computed in accordance with paragraph (d) of Rule 144) has elapsed since the
Specified Securities were last acquired from the Company or from an affiliate
of the Company, whichever is later, and the Owner is not, and during the
preceding three months has not been, an affiliate of the Company. The Owner
also acknowledges that any future transfers of the Specified Securities must
comply with all applicable securities laws of the states of the United States
and other jurisdictions.

                                      C-1
<PAGE>

         This certificate and the statements contained herein are made for your
benefit and the benefit of the Company and the Purchasers.

         Dated:
                           --------------------------
                           (Print the name of the Undersigned,
                           as such term is defined in the
                           second paragraph of this certificate.)

                  By:
                           --------------------------
                           Name:
                           Title:

         (If the Undersigned is a corporation, partnership or fiduciary, the
         title of the person signing on behalf of the Undersigned must be
         stated.)

                                      C-2EXHIBIT 4.4

                                                                 EXECUTION COPY

                          H. J. Heinz Finance Company

                   6.625% Guaranteed Notes due July 15, 2011

                       unconditionally and irrevocably by

                              H. J. Heinz Company

                                   ---------

                   Exchange and Registration Rights Agreement

                                                                  June 27, 2001
Goldman, Sachs & Co.,
J.P. Morgan Securities Inc.
  As representatives of the several Purchasers
  named in Schedule I to the Purchase Agreement
c/o Goldman, Sachs & Co.
85 Broad Street
New York, New York 10004

Ladies and Gentlemen:

     H. J. Heinz Finance Company, a Delaware corporation (the "Company"),
proposes to issue and sell to the several Purchasers (as defined herein) upon
the terms set forth in the Purchase Agreement (as defined herein) its 6.625%
Guaranteed Notes due July 15, 2011, which are unconditionally and irrevocably
guaranteed by H. J. Heinz Company (the "Guarantor"). As an inducement to the
several Purchasers to enter into the Purchase Agreement and in satisfaction of
a condition to the obligations of the several Purchasers thereunder, each of
the Company and the Guarantor agrees with the several Purchasers for the
benefit of holders (as defined herein) from time to time of the Registrable
Securities (as defined herein) as follows:

     1. Certain Definitions. For purposes of this Exchange and Registration
Rights Agreement, the following terms shall have the following respective
meanings:

          "Base Interest" shall mean the interest that would otherwise accrue
     on the Securities under the terms thereof and the Indenture, without
     giving effect to the provisions of this Agreement.

          The term "broker-dealer" shall mean any broker or dealer registered
     with the Commission under the Exchange Act.

          "Closing Date" shall mean the date on which the Securities are
     initially issued.

          "Commission" shall mean the United States Securities and Exchange
     Commission, or any other federal agency at the time administering the
     Exchange Act or the Securities Act, whichever is the relevant statute for
     the particular purpose.

          "Effective Time," in the case of (i) an Exchange Registration, shall
     mean the time and date as of which the Commission declares the Exchange
     Registration Statement effective

                                       1
<PAGE>

     or as of which the Exchange Registration Statement otherwise becomes
     effective and (ii) a Shelf Registration, shall mean the time and date as
     of which the Commission declares the Shelf Registration Statement
     effective or as of which the Shelf Registration Statement otherwise
     becomes effective.

          "Electing Holder" shall mean any holder of Registrable Securities
     that has returned a completed and signed Notice and Questionnaire to the
     Company in accordance with Section 3(d)(ii) or 3(d)(iii) hereof.

          "Exchange Act" shall mean the Securities Exchange Act of 1934, or any
     successor thereto, as the same shall be amended from time to time.

          "Exchange Offer" shall have the meaning assigned thereto in Section
     2(a) hereof.

          "Exchange Registration" shall have the meaning assigned thereto in
     Section 3(c) hereof.

          "Exchange Registration Statement" shall have the meaning assigned
     thereto in Section 2(a) hereof.

          "Exchange Securities" shall have the meaning assigned thereto in
     Section 2(a) hereof.

          "Guarantor" shall have the meaning assigned thereto in the Indenture.

          The term "holder" shall mean each of the several Purchasers and other
     persons who acquire Registrable Securities from time to time (including
     any successors or assigns), in each case for so long as such person owns
     any Registrable Securities.

          "Indenture" shall mean the Indenture, dated as of July 6, 2001,
     between the Company, the Guarantor, and Bank One, National Association, as
     Trustee, as the same shall be amended from time to time.

          "Notice and Questionnaire" means a Notice of Registration Statement
     and Selling Securityholder Questionnaire substantially in the form of
     Exhibit A hereto.

          The term "person" shall mean a corporation, association, partnership,
     organization, business, individual, government or political subdivision
     thereof or governmental agency.

          "Purchase Agreement" shall mean the Purchase Agreement, dated as of
     June 27, 2001 between the several Purchasers, the Company and the
     Guarantor relating to the Securities.

          "Purchasers" shall mean the several Purchasers named in Schedule I to
     the Purchase Agreement.

          "Registrable Securities" shall mean the Securities; provided,
     however, that a Security shall cease to be a Registrable Security when (i)
     in the circumstances contemplated by Section 2(a) hereof, the Security has
     been exchanged for an Exchange Security in an Exchange Offer as
     contemplated in Section 2(a) hereof (provided that any Exchange Security
     that, pursuant to the last two sentences of Section 2(a), is included in a
     prospectus for use in connection with resales by broker-dealers shall be
     deemed to be a Registrable Security with respect to Sections 5, 6 and 9
     until resale of such Registrable Security has been effected within the
     330-day period referred to in Section 2(a); (ii) in the circumstances
     contemplated by Section 2(b) hereof, a Shelf Registration Statement
     registering such Security under the Securities Act has been declared or
     becomes effective and such Security

                                       2
<PAGE>

     has been sold or otherwise transferred by the holder thereof pursuant to
     and in a manner contemplated by such effective Shelf Registration
     Statement; (iii) such Security is sold pursuant to Rule 144 under
     circumstances in which any legend borne by such Security relating to
     restrictions on transferability thereof, under the Securities Act or
     otherwise, is removed by the Company or pursuant to the Indenture; (iv)
     such Security is eligible to be sold pursuant to paragraph (k) of Rule
     144; or (v) such Security shall cease to be outstanding.

          "Registration Default" shall have the meaning assigned thereto in
     Section 2(c) hereof.

          "Registration Expenses" shall have the meaning assigned thereto in
     Section 4 hereof.

          "Resale Period" shall have the meaning assigned thereto in Section
     2(a) hereof.

          "Restricted Holder" shall mean (i) a holder that is an affiliate of
     the Company within the meaning of Rule 405, (ii) a holder who acquires
     Exchange Securities outside the ordinary course of such holder's business,
     (iii) a holder who has arrangements or understandings with any person to
     participate in the Exchange Offer for the purpose of distributing Exchange
     Securities and (iv) a holder that is a broker-dealer, but only with
     respect to Exchange Securities received by such broker-dealer pursuant to
     an Exchange Offer in exchange for Registrable Securities acquired by the
     broker-dealer directly from the Company.

          "Rule 144," "Rule 405" and "Rule 415" shall mean, in each case, such
     rule promulgated under the Securities Act (or any successor provision), as
     the same shall be amended from time to time.

          "Securities" shall mean, collectively, the 6.625% Guaranteed Notes
     due July 15, 2011 of the Company, unconditionally and irrevocably
     guaranteed as to the payment of principal and interest by the Guarantor,
     to be issued and sold to the several Purchasers, and securities issued in
     exchange therefor or in lieu thereof pursuant to the Indenture. Each
     Security is entitled to the benefit of the guarantee provided for in the
     Indenture (the "Guarantee") and, unless the context otherwise requires,
     any reference herein to a "Security," an "Exchange Security" or a
     "Registrable Security" shall include a reference to the related Guarantee.

          "Securities Act" shall mean the Securities Act of 1933, or any
     successor thereto, as the same shall be amended from time to time.

          "Shelf Registration" shall have the meaning assigned thereto in
     Section 2(b) hereof.

          "Shelf Registration Statement" shall have the meaning assigned
     thereto in Section 2(b) hereof.

          "Special Interest" shall have the meaning assigned thereto in Section
     2(c) hereof.

          "Trust Indenture Act" shall mean the Trust Indenture Act of 1939, or
     any successor thereto, and the rules, regulations and forms promulgated
     thereunder, all as the same shall be amended from time to time.

     Unless the context otherwise requires, any reference herein to a "Section"
or "clause" refers to a Section or clause, as the case may be, of this Exchange
and Registration Rights Agreement, and the words "herein," "hereof" and
"hereunder" and other words of similar import

                                       3
<PAGE>

     refer to this Exchange and Registration Rights Agreement as a whole and
     not to any particular Section or other subdivision.

     2. Registration Under the Securities Act.

          (a) Except as set forth in Section 2(b) below, the Company agrees to
     file under the Securities Act, no later than 270 days after the Closing
     Date, a registration statement relating to an offer to exchange (such
     registration statement, the "Exchange Registration Statement", and such
     offer, the "Exchange Offer") any and all of the Securities for a like
     aggregate principal amount of debt securities issued by the Company and
     guaranteed by the Guarantor, which debt securities and guarantee are
     substantially identical to the Securities and the related Guarantee,
     respectively (and are entitled to the benefits of a trust indenture which
     is substantially identical to the Indenture or is the Indenture and which
     has been qualified under the Trust Indenture Act), except that they have
     been registered pursuant to an effective registration statement under the
     Securities Act and do not contain provisions for the additional interest
     contemplated in Section 2(c) below (such new debt securities hereinafter
     called "Exchange Securities"). The Company and that Guarantor each agrees
     to use its reasonable best efforts to cause the Exchange Registration
     Statement to become effective under the Securities Act as soon as
     practicable, but no later than 330 days after the Closing Date. The
     Exchange Offer will be registered under the Securities Act on the
     appropriate form and will comply with all applicable tender offer rules
     and regulations under the Exchange Act. The Company further agrees to use
     its reasonable best efforts to commence and complete the Exchange Offer
     promptly, but no later than 45 days after such registration statement has
     become effective, hold the Exchange Offer open for at least 30 days and
     exchange Exchange Securities for all Registrable Securities that have been
     properly tendered and not withdrawn on or prior to the expiration of the
     Exchange Offer. The Exchange Offer will be deemed to have been "completed"
     only if the debt securities and related guarantee received by holders
     other than Restricted Holders in the Exchange Offer for Registrable
     Securities are, upon receipt, transferable by each such holder without
     restriction under the Securities Act and the Exchange Act and without
     material restrictions under the blue sky or securities laws of a
     substantial majority of the States of the United States of America. The
     Exchange Offer shall be deemed to have been completed upon the earlier to
     occur of (i) the Company having exchanged the Exchange Securities for all
     outstanding Registrable Securities pursuant to the Exchange Offer and (ii)
     the Company having exchanged, pursuant to the Exchange Offer, Exchange
     Securities for all Registrable Securities that have been properly tendered
     and not withdrawn before the expiration of the Exchange Offer, which shall
     be on a date that is at least 30 days following the commencement of the
     Exchange Offer. The Company agrees (x) to include in the Exchange
     Registration Statement a prospectus for use in any resales by any holder
     of Exchange Securities that is a broker-dealer and (y) to keep such
     Exchange Registration Statement effective for a period (the "Resale
     Period") beginning when Exchange Securities are first issued in the
     Exchange Offer and ending upon the earlier of the expiration of the 180th
     day after the Exchange Offer has been completed or such time as such
     broker-dealers no longer own any Registrable Securities.
     With respect to such Exchange Registration Statement, such holders shall
     have the benefit of the rights of indemnification and contribution set
     forth in Sections 6(a), (c), (d) and (e) hereof.

          (b) If (i) on or prior to the time the Exchange Offer is completed
     existing Commission interpretations are changed such that the Exchange
     Securities received by holders other than Restricted Holders in the
     Exchange Offer for Registrable Securities are not or would not be, upon
     receipt, transferable by each such holder without restriction under the

                                       4
<PAGE>

     Securities Act, (ii) the Exchange Offer has not been completed within 375
     days following the Closing Date or (iii) the Exchange Offer is not
     available to any holder of the Securities, the Company shall, in lieu of
     (or, in the case of clause (iii), in addition to) conducting the Exchange
     Offer contemplated by Section 2(a), file under the Securities Act as soon
     as practicable, but no later than the later of 30 days after the time such
     obligation to file arises, a "shelf" registration statement providing for
     the registration of, and the sale on a continuous or delayed basis by the
     holders of, all of the Registrable Securities, pursuant to Rule 415 or any
     similar rule that may be adopted by the Commission (such filing, the
     "Shelf Registration" and such registration statement, the "Shelf
     Registration Statement"). The Company agrees to use its reasonable best
     efforts (x) to cause the Shelf Registration Statement to become or be
     declared effective no later than 60 days after such Shelf Registration
     Statement is filed and to keep such Shelf Registration Statement
     continuously effective for a period ending on the earlier of the second
     anniversary of the Effective Time or such time as there are no longer any
     Registrable Securities outstanding, provided, however, that no holder
     shall be entitled to be named as a selling securityholder in the Shelf
     Registration Statement or to use the prospectus forming a part thereof for
     resales of Registrable Securities unless such holder is an Electing
     Holder, and (y) after the Effective Time of the Shelf Registration
     Statement, promptly upon the request of any holder of Registrable
     Securities that is not then an Electing Holder, to take any action
     reasonably necessary to enable such holder to use the prospectus forming a
     part thereof for resales of Registrable Securities, including, without
     limitation, any action necessary to identify such holder as a selling
     securityholder in the Shelf Registration Statement, provided, however,
     that nothing in this Clause (y) shall relieve any such holder of the
     obligation to return a completed and signed Notice and Questionnaire to
     the Company in accordance with Section 3(d)(ii) hereof. The Company
     further agrees to supplement or make amendments to the Shelf Registration
     Statement, as and when required by the rules, regulations or instructions
     applicable to the registration form used by the Company for such Shelf
     Registration Statement or by the Securities Act or rules and regulations
     thereunder for shelf registration, and the Company agrees to furnish to
     each Electing Holder copies of any such supplement or amendment prior to
     its being used or promptly following its filing with the Commission.

          (c) In the event that (i) the Company has not filed the Exchange
     Registration Statement or Shelf Registration Statement on or before the
     date on which such registration statement is required to be filed pursuant
     to Section 2(a) or 2(b), respectively, or (ii) such Exchange Registration
     Statement or Shelf Registration Statement has not become effective or been
     declared effective by the Commission on or before the date on which such
     registration statement is required to become or be declared effective
     pursuant to Section 2(a) or 2(b), respectively, or (iii) the Exchange
     Offer has not been completed within 45 days after the initial effective
     date of the Exchange Registration Statement relating to the Exchange Offer
     (if the Exchange Offer is then required to be made) or (iv) any Exchange
     Registration Statement or Shelf Registration Statement required by Section
     2(a) or 2(b) hereof is filed and declared effective but shall thereafter
     either be withdrawn by the Company or shall become subject to an effective
     stop order issued pursuant to Section 8(d) of the Securities Act
     suspending the effectiveness of such registration statement (except as
     specifically permitted herein) without being succeeded immediately by an
     additional registration statement filed and declared effective (each such
     event referred to in clauses (i) through (iv), a "Registration Default"
     and each period during which a Registration Default has occurred and is
     continuing, a "Registration Default Period"), then, as liquidated damages
     for such Registration Default, subject to the provisions of Section 9(b),
     special interest ("Special Interest"), in addition to the Base Interest,
     shall accrue at a per annum rate of 0.25% for the first 90 days of the
     Registration Default Period, at a per annum rate of 0.50% thereafter for

                                       5
<PAGE>

     the remaining portion of the Default Period. Special Interest will cease
     to accrue at such time when there are no longer any Registrable
     Securities.

          (d) Each of the Company and the Guarantor shall take all actions
     necessary or advisable to be taken by it to ensure that the transactions
     contemplated herein are effected as so contemplated, including all actions
     necessary or desirable to register the Guarantee under the registration
     statement contemplated in Section 2(a) or 2(b) hereof, as applicable.

          (e) Any reference herein to a registration statement as of any time
     shall be deemed to include any document incorporated, or deemed to be
     incorporated, therein by reference as of such time and any reference
     herein to any post-effective amendment to a registration statement as of
     any time shall be deemed to include any document incorporated, or deemed
     to be incorporated, therein by reference as of such time.

     3. Registration Procedures.

     If the Company files a registration statement pursuant to Section 2(a) or
Section 2(b), the following provisions shall apply:

          (a) At or before the Effective Time of the Exchange Offer or the
     Shelf Registration, as the case may be, the Company shall qualify the
     Indenture under the Trust Indenture Act of 1939.

          (b) In the event that such qualification would require the
     appointment of a new trustee under the Indenture, the Company shall
     appoint a new trustee thereunder pursuant to the applicable provisions of
     the Indenture.

          (c) In connection with the Company's obligations with respect to the
     registration of Exchange Securities as contemplated by Section 2(a) (the
     "Exchange Registration"), if applicable, the Company shall:

               (i) prepare and file with the Commission, no later than 270 days
          after the Closing Date, an Exchange Registration Statement on any
          form which may be utilized by the Company and which shall permit the
          Exchange Offer and resales of Exchange Securities by broker-dealers
          during the Resale Period to be effected as contemplated by Section
          2(a), and use its reasonable best efforts to cause such Exchange
          Registration Statement to become effective as soon as practicable
          thereafter, but no later than 330 days after the Closing Date;

               (ii) as soon as practicable prepare and file with the Commission
          such amendments and supplements to such Exchange Registration
          Statement and the prospectus included therein as may be necessary to
          effect and maintain the effectiveness of such Exchange Registration
          Statement for the periods and purposes contemplated in Section 2(a)
          hereof and as may be required by the applicable rules and regulations
          of the Commission and the instructions applicable to the form of such
          Exchange Registration Statement, and promptly provide each
          broker-dealer holding Exchange Securities with such number of copies
          of the prospectus included therein (as then amended or supplemented),
          in conformity in all material respects with the requirements of the
          Securities Act and the Trust Indenture Act and the rules and
          regulations of the Commission thereunder, as such broker-dealer
          reasonably may request prior to the expiration of the Resale Period,
          for use in connection with resales of Exchange Securities;

                                       6
<PAGE>

               (iii) promptly notify each broker-dealer that has requested or
          received copies of the prospectus included in such registration
          statement (A) when such Exchange Registration Statement or the
          prospectus included therein or any prospectus amendment or supplement
          or post-effective amendment has been filed, and, with respect to such
          Exchange Registration Statement or any post-effective amendment, when
          the same has become effective, (B) of any comments by the Commission
          and by the blue sky or securities commissioner or regulator of any
          state with respect thereto or any request by the Commission for
          amendments or supplements to such Exchange Registration Statement or
          prospectus or for additional information, (C) of the issuance by the
          Commission of any stop order suspending the effectiveness of such
          Exchange Registration Statement or the initiation or threatening of
          any proceedings for that purpose, (D) if at any time the
          representations and warranties of the Company contemplated by Section
          5 cease to be true and correct in all material respects, (E) of the
          receipt by the Company of any notification with respect to the
          suspension of the qualification of the Exchange Securities for sale
          in any jurisdiction or the initiation or threatening of any
          proceeding for such purpose, or (F) at any time during the Resale
          Period when a prospectus is required to be delivered under the
          Securities Act, that such Exchange Registration Statement,
          prospectus, prospectus amendment or supplement or post-effective
          amendment does not conform in all material respects to the applicable
          requirements of the Securities Act and the Trust Indenture Act and
          the rules and regulations of the Commission thereunder or contains an
          untrue statement of a material fact or omits to state any material
          fact required to be stated therein or necessary to make the
          statements therein not misleading in light of the circumstances then
          existing;

               (iv) in the event that the Company would be required, pursuant
          to Section 3(c)(iii)(F) above, to notify any broker-dealers holding
          Exchange Securities, without delay prepare and furnish to each such
          holder a reasonable number of copies of a prospectus supplemented or
          amended so that, as thereafter delivered to purchasers of such
          Exchange Securities during the Resale Period, such prospectus shall
          conform in all material respects to the applicable requirements of
          the Securities Act and the Trust Indenture Act and the rules and
          regulations of the Commission thereunder and shall not contain an
          untrue statement of a material fact or omit to state a material fact
          required to be stated therein or necessary to make the statements
          therein not misleading in light of the circumstances then existing;

               (v) use its reasonable best efforts to obtain the withdrawal of
          any order suspending the effectiveness of such Exchange Registration
          Statement or any post-effective amendment thereto at the earliest
          practicable date;

               (vi) use its reasonable best efforts to (A) register or qualify
          the Exchange Securities under the securities laws or blue sky laws of
          such jurisdictions as are contemplated by Section 2(a) no later than
          the commencement of the Exchange Offer, (B) keep such registrations
          or qualifications in effect and comply with such laws so as to permit
          the continuance of offers, sales and dealings therein in such
          jurisdictions until the expiration of the Resale Period and (C) take
          any and all other actions as may be reasonably necessary or advisable
          to enable each broker-dealer holding Exchange Securities to
          consummate the disposition thereof in such jurisdictions; provided,
          however, that neither the Company nor the Guarantor shall be required
          for any such purpose to (1) qualify as a foreign corporation in any
          jurisdiction wherein it would not otherwise be required to qualify
          but for the

                                       7
<PAGE>

          requirements of this Section 3(c)(vi), (2) consent to general service
          of process in any such jurisdiction or (3) make any changes to its
          certificate of incorporation or by-laws or any agreement between it
          and its stockholders;

               (vii) use its reasonable best efforts to obtain the consent or
          approval of each governmental agency or authority, whether federal,
          state or local, which may be required to effect the Exchange
          Registration, the Exchange Offer and the offering and sale of
          Exchange Securities by broker-dealers during the Resale Period;

               (viii) provide a CUSIP number for all Exchange Securities, not
          later than the applicable Effective Time;

               (ix) comply with all applicable rules and regulations of the
          Commission, and make generally available to its securityholders as
          soon as practicable but no later than eighteen months after the
          effective date of such Exchange Registration Statement, an earning
          statement of the Company and its subsidiaries complying with Section
          11(a) of the Securities Act (including, at the option of the Company,
          Rule 158 thereunder).

          (d) In connection with the Company's obligations with respect to the
     Shelf Registration, if applicable, the Company shall:

               (i) prepare and file with the Commission, within the time
          periods specified in Section 2(b), a Shelf Registration Statement on
          any form which may be utilized by the Company and which shall
          register all of the Registrable Securities for resale by the holders
          thereof in accordance with such method or methods of disposition as
          may be specified by such of the holders as, from time to time, may be
          Electing Holders and use its reasonable best efforts to cause such
          Shelf Registration Statement to become effective as soon as
          practicable but in any case within the time periods specified in
          Section 2(b);

               (ii) after the Effective Time of the Shelf Registration
          Statement, upon the request of any holder of Registrable Securities
          that is not then an Electing Holder, promptly send a Notice and
          Questionnaire to such holder; provided that the Company shall not be
          required to take any action to name such holder as a selling
          securityholder in the Shelf Registration Statement or to enable such
          holder to use the prospectus forming a part thereof for resales of
          Registrable Securities until such holder has returned a completed and
          signed Notice and Questionnaire to the Company;

               (iii) as soon as practicable prepare and file with the
          Commission such amendments and supplements to such Shelf Registration
          Statement and the prospectus included therein as may be necessary to
          effect and maintain the effectiveness of such Shelf Registration
          Statement for the period specified in Section 2(b) hereof and as may
          be required by the applicable rules and regulations of the Commission
          and the instructions applicable to the form of such Shelf
          Registration Statement, and furnish to the Electing Holders copies of
          any such supplement or amendment simultaneously with or prior to its
          being used or filed with the Commission;

               (iv) comply with the provisions of the Securities Act with
          respect to the disposition of all of the Registrable Securities
          covered by such Shelf Registration

                                       8
<PAGE>

          Statement in accordance with the intended methods of disposition by
          the Electing Holders provided for in such Shelf Registration
          Statement;

               (v) provide (A) the Electing Holders, (B) the underwriters
          (which term, for purposes of this Exchange and Registration Rights
          Agreement, shall include a person deemed to be an underwriter within
          the meaning of Section 2(a)(11) of the Securities Act), if any,
          thereof, (C) any sales or placement agent therefor, (D) counsel for
          any such underwriter or agent and (E) not more than one counsel for
          all the Electing Holders the opportunity to participate in the
          preparation of such Shelf Registration Statement, each prospectus
          included therein or filed with the Commission and each amendment or
          supplement thereto;

               (vi) for a reasonable period prior to the filing of such Shelf
          Registration Statement, and throughout the period specified in
          Section 2(b), make available at reasonable times at the Company's
          principal place of business or such other reasonable place for
          inspection by the persons referred to in Section 3(d)(v) who shall
          certify to the Company that they have a current intention to sell the
          Registrable Securities pursuant to the Shelf Registration such
          financial and other information and books and records of the Company,
          and cause the officers, employees, counsel and independent certified
          public accountants of the Company to respond to such inquiries, as
          shall be reasonably necessary, in the judgment of the respective
          counsel referred to in such Section, to conduct a reasonable
          investigation within the meaning of Section 11 of the Securities Act;
          provided, however, that each such party shall be required to maintain
          in confidence and not to disclose to any other person any information
          or records reasonably designated by the Company as being
          confidential, until such time as (A) such information becomes a
          matter of public record (whether by virtue of its inclusion in such
          registration statement or otherwise), or (B) such person shall be
          required so to disclose such information pursuant to a subpoena or
          order of any court or other governmental agency or body having
          jurisdiction over the matter (subject to the requirements of such
          order, and only after such person shall have given the Company prompt
          prior written notice of such requirement), or (C) such information is
          required to be set forth in such Shelf Registration Statement or the
          prospectus included therein or in an amendment to such Shelf
          Registration Statement or an amendment or supplement to such
          prospectus in order that such Shelf Registration Statement,
          prospectus, amendment or supplement, as the case may be, complies
          with applicable requirements of the federal securities laws and the
          rules and regulations of the Commission and does not contain an
          untrue statement of a material fact or omit to state therein a
          material fact required to be stated therein or necessary to make the
          statements therein not misleading in light of the circumstances then
          existing;

               (vii) promptly notify each of the Electing Holders, any sales or
          placement agent therefor and any underwriter thereof (which
          notification may be made through any managing underwriter that is a
          representative of such underwriter for such purpose) (A) when such
          Shelf Registration Statement or the prospectus included therein or
          any prospectus amendment or supplement or post-effective amendment
          has been filed, and, with respect to such Shelf Registration
          Statement or any post-effective amendment, when the same has become
          effective, (B) of any comments by the Commission and by the blue sky
          or securities commissioner or regulator of any state with respect
          thereto or any request by the Commission for amendments or
          supplements to such Shelf Registration Statement or prospectus or for
          additional

                                       9
<PAGE>

          information, (C) of the issuance by the Commission of any stop order
          suspending the effectiveness of such Shelf Registration Statement or
          the initiation or threatening of any proceedings for that purpose,
          (D) if at any time the representations and warranties of the Company
          contemplated by Section 3(d)(xvi) or Section 5 cease to be true and
          correct in all material respects, (E) of the receipt by the Company
          of any notification with respect to the suspension of the
          qualification of the Registrable Securities for sale in any
          jurisdiction or the initiation or threatening of any proceeding for
          such purpose, or (F) if at any time when a prospectus is required to
          be delivered under the Securities Act, that such Shelf Registration
          Statement, prospectus, prospectus amendment or supplement or
          post-effective amendment does not conform in all material respects to
          the applicable requirements of the Securities Act and the Trust
          Indenture Act and the rules and regulations of the Commission
          thereunder or contains an untrue statement of a material fact or
          omits to state any material fact required to be stated therein or
          necessary to make the statements therein not misleading in light of
          the circumstances then existing;

               (viii) use its reasonable best efforts to obtain the withdrawal
          of any order suspending the effectiveness of such registration
          statement or any post-effective amendment thereto at the earliest
          practicable date;

               (ix) if requested by any managing underwriter or underwriters,
          any placement or sales agent or any Electing Holder, promptly
          incorporate in a prospectus supplement or post-effective amendment
          such information as is required by the applicable rules and
          regulations of the Commission and as such managing underwriter or
          underwriters, such agent or such Electing Holder specifies should be
          included therein relating to the terms of the sale of such
          Registrable Securities, including information with respect to the
          principal amount of Registrable Securities being sold by such
          Electing Holder or agent or to any underwriters, the name and
          description of such Electing Holder, agent or underwriter, the
          offering price of such Registrable Securities and any discount,
          commission or other compensation payable in respect thereof, the
          purchase price being paid therefor by such underwriters and with
          respect to any other terms of the offering of the Registrable
          Securities to be sold by such Electing Holder or agent or to such
          underwriters; and make all required filings of such prospectus
          supplement or post-effective amendment promptly after notification of
          the matters to be incorporated in such prospectus supplement or
          post-effective amendment;

               (x) furnish to each Electing Holder, each placement or sales
          agent, if any, therefor, each underwriter, if any, thereof and the
          respective counsel referred to in Section 3(d)(v) an executed copy
          (or, in the case of an Electing Holder, a conformed copy) of such
          Shelf Registration Statement, each such amendment and supplement
          thereto (in each case including all exhibits thereto (in the case of
          an Electing Holder of Registrable Securities, upon request) and
          documents incorporated by reference therein) and such number of
          copies of such Shelf Registration Statement (excluding exhibits
          thereto and documents incorporated by reference therein unless
          specifically so requested by such Electing Holder, agent or
          underwriter, as the case may be) and of the prospectus included in
          such Shelf Registration Statement (including each preliminary
          prospectus and any summary prospectus), in conformity in all material
          respects with the applicable requirements of the Securities Act and
          the Trust Indenture Act and the rules and regulations of the
          Commission thereunder, and such other documents, as such Electing
          Holder, agent, if any, and underwriter, if any, may

                                      10
<PAGE>

          reasonably request in order to facilitate the offering and
          disposition of the Registrable Securities owned by such Electing
          Holder, offered or sold by such agent or underwritten by such
          underwriter and to permit such Electing Holder, agent and underwriter
          to satisfy the prospectus delivery requirements of the Securities
          Act; and the Company hereby consents to the use of such prospectus
          (including such preliminary and summary prospectus) and any amendment
          or supplement thereto by each such Electing Holder and by any such
          agent and underwriter, in each case in the form most recently
          provided to such person by the Company, in connection with the
          offering and sale of the Registrable Securities covered by the
          prospectus (including such preliminary and summary prospectus) or any
          supplement or amendment thereto;

               (xi) use reasonable best efforts to (A) register or qualify the
          Registrable Securities to be included in such Shelf Registration
          Statement under such securities laws or blue sky laws of such
          jurisdictions as any Electing Holder and each placement or sales
          agent, if any, therefor and underwriter, if any, thereof shall
          reasonably request, (B) keep such registrations or qualifications in
          effect and comply with such laws so as to permit the continuance of
          offers, sales and dealings therein in such jurisdictions during the
          period the Shelf Registration is required to remain effective under
          Section 2(b) above and for so long as may be necessary to enable any
          such Electing Holder, agent or underwriter to complete its
          distribution of Securities pursuant to such Shelf Registration
          Statement and (C) take any and all other actions as may be reasonably
          necessary or advisable to enable each such Electing Holder, agent, if
          any, and underwriter, if any, to consummate the disposition in such
          jurisdictions of such Registrable Securities; provided, however, that
          neither the Company nor the Guarantor shall be required for any such
          purpose to (1) qualify as a foreign corporation in any jurisdiction
          wherein it would not otherwise be required to qualify but for the
          requirements of this Section 3(d)(xi), (2) consent to general service
          of process in any such jurisdiction or (3) make any changes to its
          certificate of incorporation or by-laws or any agreement between it
          and its stockholders;

               (xii) use its reasonable best efforts to obtain the consent or
          approval of each governmental agency or authority, whether federal,
          state or local, which may be required to effect the Shelf
          Registration or the offering or sale in connection therewith or to
          enable the selling holder or holders to offer, or to consummate the
          disposition of, their Registrable Securities;

               (xiii) Unless any Registrable Securities shall be in book-entry
          only form, cooperate with the Electing Holders and the managing
          underwriters, if any, to facilitate the timely preparation and
          delivery of certificates representing Registrable Securities to be
          sold, which certificates, if so required by any securities exchange
          upon which any Registrable Securities are listed, shall be penned,
          lithographed or engraved, or produced by any combination of such
          methods, on steel engraved borders, and which certificates shall not
          bear any restrictive legends; and, in the case of an underwritten
          offering, enable such Registrable Securities to be in such
          denominations and registered in such names as the managing
          underwriters may request at least two business days prior to any sale
          of the Registrable Securities;

               (xiv) provide a CUSIP number for all Registrable Securities, not
          later than the applicable Effective Time;

                                      11
<PAGE>

               (xv) enter into one or more underwriting agreements, engagement
          letters, agency agreements, "best efforts" underwriting agreements or
          similar agreements, as appropriate, including customary provisions
          relating to indemnification and contribution, and take such other
          actions in connection therewith as any Electing Holders aggregating
          at least 25% in aggregate principal amount of the Registrable
          Securities at the time outstanding shall request in order to expedite
          or facilitate the disposition of such Registrable Securities;

               (xvi) whether or not an agreement of the type referred to in
          Section 3(d)(xv) hereof is entered into and whether or not any
          portion of the offering contemplated by the Shelf Registration is an
          underwritten offering or is made through a placement or sales agent
          or any other entity, (A) make such representations and warranties to
          the Electing Holders and the placement or sales agent, if any,
          therefor and the underwriters, if any, thereof in form, substance and
          scope as are customarily made in connection with an offering of debt
          securities pursuant to any appropriate agreement or to a registration
          statement filed on the form applicable to the Shelf Registration; (B)
          obtain an opinion of counsel to the Company in customary form and
          covering such matters, of the type customarily covered by such an
          opinion, as the managing underwriters, if any, or as any Electing
          Holders of at least 25% in aggregate principal amount of the
          Registrable Securities at the time outstanding may reasonably
          request, addressed to such Electing Holder or Electing Holders and
          the placement or sales agent, if any, therefor and the underwriters,
          if any, thereof and dated the effective date of such Shelf
          Registration Statement (and if such Shelf Registration Statement
          contemplates an underwritten offering of a part or all of the
          Registrable Securities, dated the date of the closing under the
          underwriting agreement relating thereto) (it being agreed that the
          matters to be covered by such opinion shall include the due
          incorporation and good standing of the Company and its subsidiaries;
          the qualification of the Company and its subsidiaries to transact
          business as foreign corporations; the due authorization, execution
          and delivery of the relevant agreement of the type referred to in
          Section 3(d)(xv) hereof; the due authorization, execution,
          authentication and issuance, and the validity and enforceability, of
          the Securities; the absence of material legal or governmental
          proceedings involving the Company; the absence of a breach by the
          Company or any of its subsidiaries of, or a default under, material
          agreements binding upon the Company or any subsidiary of the Company;
          the absence of governmental approvals required to be obtained in
          connection with the Shelf Registration, the offering and sale of the
          Registrable Securities, this Exchange and Registration

                                      12
<PAGE>

          Rights Agreement or any agreement of the type referred to in Section
          3(d)(xv) hereof, except such approvals as may be required under state
          securities or blue sky laws; the material compliance as to form of
          such Shelf Registration Statement and any documents incorporated by
          reference therein and of the Indenture with the requirements of the
          Securities Act and the Trust Indenture Act and the rules and
          regulations of the Commission thereunder, respectively; and, as of
          the date of the opinion and of the Shelf Registration Statement or
          most recent post-effective amendment thereto, as the case may be, the
          absence from such Shelf Registration Statement and the prospectus
          included therein, as then amended or supplemented, and from the
          documents incorporated by reference therein (in each case other than
          the financial statements and other financial information contained
          therein) of an untrue statement of a material fact or the omission to
          state therein a material fact necessary to make the statements
          therein not misleading (in the case of such documents, in the light
          of the circumstances existing at the time that such documents were
          filed with the

                                      12
<PAGE>

          Commission under the Exchange Act)); (C) obtain a "cold comfort"
          letter or letters from the independent certified public accountants
          of the Company addressed to the selling Electing Holders, the
          placement or sales agent, if any, therefor or the underwriters, if
          any, thereof, dated (i) the effective date of such Shelf Registration
          Statement and (ii) the effective date of any prospectus supplement to
          the prospectus included in such Shelf Registration Statement or
          post-effective amendment to such Shelf Registration Statement which
          includes unaudited or audited financial statements as of a date or
          for a period subsequent to that of the latest such statements
          included in such prospectus (and, if such Shelf Registration
          Statement contemplates an underwritten offering pursuant to any
          prospectus supplement to the prospectus included in such Shelf
          Registration Statement or post-effective amendment to such Shelf
          Registration Statement which includes unaudited or audited financial
          statements as of a date or for a period subsequent to that of the
          latest such statements included in such prospectus, dated the date of
          the closing under the underwriting agreement relating thereto), such
          letter or letters to be in customary form and covering such matters
          of the type customarily covered by letters of such type; (D) deliver
          such documents and certificates, including officers' certificates, as
          may be reasonably requested by any Electing Holders of at least 25%
          in aggregate principal amount of the Registrable Securities at the
          time outstanding or the placement or sales agent, if any, therefor
          and the managing underwriters, if any, thereof to evidence the
          accuracy of the representations and warranties made pursuant to
          clause (A) above or those contained in Section 5(a) hereof and the
          compliance with or satisfaction of any agreements or conditions
          contained in the underwriting agreement or other agreement entered
          into by the Company or the Guarantor; and (E) undertake such
          obligations relating to expense reimbursement, indemnification and
          contribution as are provided in Section 6 hereof;

               (xvii) notify in writing each holder of Registrable Securities
          of any proposal by the Company to amend or waive any provision of
          this Exchange and Registration Rights Agreement pursuant to Section
          9(h) hereof and of any amendment or waiver effected pursuant thereto,
          each of which notices shall contain the text of the amendment or
          waiver proposed or effected, as the case may be;

               (xviii) in the event that any broker-dealer registered under the
          Exchange Act shall underwrite any Registrable Securities or
          participate as a member of an underwriting syndicate or selling group
          or "assist in the distribution" (within the meaning of the Conduct
          Rules (the "Conduct Rules) of the National Association of Securities
          Dealers, Inc. ("NASD") or any successor thereto, as amended from time
          to time) thereof, whether as a holder of such Registrable Securities
          or as an underwriter, a placement or sales agent or a broker or
          dealer in respect thereof, or otherwise, assist such broker-dealer in
          complying with the requirements of such Conduct Rules, including by
          (A) if such Conduct Rules shall so require, engaging a "qualified
          independent underwriter" (as defined in such Conduct Rules) to
          participate in the preparation of the Shelf Registration Statement
          relating to such Registrable Securities, to exercise usual standards
          of due diligence in respect thereto and, if any portion of the
          offering contemplated by such Shelf Registration Statement is an
          underwritten offering or is made through a placement or sales agent,
          to recommend the yield of such Registrable Securities, (B)
          indemnifying any such qualified independent underwriter to the extent
          of the indemnification of underwriters provided in Section 6 hereof
          (or to such other customary extent as may be requested by such
          underwriter), and (C) providing such information to such
          broker-dealer as may be

                                      13
<PAGE>

          required in order for such broker-dealer to comply with the
          requirements of the Conduct Rules; and

               (xix) comply with all applicable rules and regulations of the
          Commission, and make generally available to its securityholders as
          soon as practicable but in any event not later than eighteen months
          after the effective date of such Shelf Registration Statement, an
          earning statement of the Company and its subsidiaries complying with
          Section 11(a) of the Securities Act (including, at the option of the
          Company, Rule 158 thereunder).

          (e) In the event that the Company would be required, pursuant to
     Section 3(d)(vii)(F) above, to notify the Electing Holders, the placement
     or sales agent, if any, therefor and the managing underwriters, if any,
     thereof, the Company shall without delay prepare and furnish to each of
     the Electing Holders, to each placement or sales agent, if any, and to
     each such underwriter, if any, a reasonable number of copies of a
     prospectus supplemented or amended so that, as thereafter delivered to
     purchasers of Registrable Securities, such prospectus shall conform in all
     material respects to the applicable requirements of the Securities Act and
     the Trust Indenture Act and the rules and regulations of the Commission
     thereunder and shall not contain an untrue statement of a material fact or
     omit to state a material fact required to be stated therein or necessary
     to make the statements therein not misleading in light of the
     circumstances then existing. Each Electing Holder agrees that upon receipt
     of any notice from the Company pursuant to Section 3(d)(vii)(F) hereof,
     such Electing Holder shall forthwith discontinue the disposition of
     Registrable Securities pursuant to the Shelf Registration Statement
     applicable to such Registrable Securities until such Electing Holder shall
     have received copies of such amended or supplemented prospectus, and if so
     directed by the Company, such Electing Holder shall deliver to the Company
     (at the Company's expense) all copies, other than permanent file copies,
     then in such Electing Holder's possession of the prospectus covering such
     Registrable Securities at the time of receipt of such notice.

          (f) In the event of a Shelf Registration, in addition to the
     information required to be provided by each Electing Holder in its Notice
     Questionnaire, the Company may require such Electing Holder to furnish to
     the Company such additional information regarding such Electing Holder and
     such Electing Holder's intended method of distribution of Registrable
     Securities as may be required in order to comply with the Securities Act.
     Each such Electing Holder agrees to notify the Company as promptly as
     practicable of any inaccuracy or change in information previously
     furnished by such Electing Holder to the Company or of the occurrence of
     any event in either case as a result of which any prospectus relating to
     such Shelf Registration contains or would contain an untrue statement of a
     material fact regarding such Electing Holder or such Electing Holder's
     intended method of disposition of such Registrable Securities or omits to
     state any material fact regarding such Electing Holder or such Electing
     Holder's intended method of disposition of such Registrable Securities
     required to be stated therein or necessary to make the statements therein
     not misleading in light of the circumstances then existing, and promptly
     to furnish to the Company any additional information required to correct
     and update any previously furnished information or required so that such
     prospectus shall not contain, with respect to such Electing Holder or the
     disposition of such Registrable Securities, an untrue statement of a
     material fact or omit to state a material fact required to be stated
     therein or necessary to make the statements therein not misleading in
     light of the circumstances then existing.

                                      14
<PAGE>

          (g) Until the expiration of two years after the Closing Date, the
     Company will not, and will not permit any of its "affiliates" (as defined
     in Rule 144) to, resell any of the Securities that have been reacquired by
     any of them except pursuant to an effective registration statement under
     the Securities Act.

     4. Registration Expenses.

     The Company agrees to bear and to pay or cause to be paid promptly all
expenses incident to the Company's performance of or compliance with this
Exchange and Registration Rights Agreement, including (a) all Commission and
any NASD registration, filing and review fees and expenses including fees and
disbursements of counsel for the placement or sales agent or underwriters in
connection with such registration, filing and review, (b) all fees and expenses
in connection with the qualification of the Securities for offering and sale
under the State securities and blue sky laws referred to in Section 3(d)(xi)
hereof and determination of their eligibility for investment under the laws of
such jurisdictions as any managing underwriters or the Electing Holders may
designate, including any fees and disbursements of counsel for the Electing
Holders or underwriters in connection with such qualification and
determination, (c) all expenses relating to the preparation, printing,
production, distribution and reproduction of each registration statement
required to be filed hereunder, each prospectus included therein or prepared
for distribution pursuant hereto, each amendment or supplement to the
foregoing, the expenses of preparing the Securities for delivery and the
expenses of printing or producing any underwriting agreements, agreements among
underwriters, selling agreements and blue sky or legal investment memoranda and
all other documents in connection with the offering, sale or delivery of
Securities to be disposed of (including certificates representing the
Securities), (d) messenger, telephone and delivery expenses relating to the
offering, sale or delivery of Securities and the preparation of documents
referred in clause (c) above, (e) fees and expenses of the Trustee under the
Indenture, any agent of the Trustee and any counsel for the Trustee and of any
collateral agent or custodian, (f) internal expenses (including all salaries
and expenses of the Company's officers and employees performing legal or
accounting duties), (g) fees, disbursements and expenses of counsel and
independent certified public accountants of the Company (including the expenses
of any opinions or "cold comfort" letters required by or incident to such
performance and compliance), (h) fees, disbursements and expenses of any
"qualified independent underwriter" engaged pursuant to Section 3(d)(xviii)
hereof, (i) fees, disbursements and expenses of one counsel for the Electing
Holders retained in connection with a Shelf Registration, as selected by the
Electing Holders of at least a majority in aggregate principal amount of the
Registrable Securities held by Electing Holders (which counsel shall be
reasonably satisfactory to the Company), (j) any fees charged by
securities rating services for rating the Securities, and (k) fees, expenses
and disbursements of any other persons, including special experts, retained by
the Company in connection with such registration (collectively, the
"Registration Expenses"). To the extent that any Registration Expenses are
incurred, assumed or paid by any holder of Registrable Securities or any
placement or sales agent therefor or underwriter thereof, the Company shall
reimburse such person for the full amount of the Registration Expenses so
incurred, assumed or paid promptly after receipt of a request therefor.
Notwithstanding the foregoing, the holders of the Registrable Securities being
registered shall pay all agency fees and commissions and underwriting discounts
and commissions attributable to the sale of such Registrable Securities and the
fees and disbursements of any counsel or other advisors or experts retained by
such holders (severally or jointly), other than the counsel and experts
specifically referred to above.

                                      15
<PAGE>

     5. Representations and Warranties.

     Each of the Company and the Guarantor represents and warrants to, and
agrees with, each Purchaser that:

          (a) The compliance by the Company with all of the provisions of this
     Exchange and Registration Rights Agreement and the consummation of the
     transactions herein contemplated will not conflict with or result in a
     breach of any of the terms or provisions of, or constitute a default
     under, any indenture, mortgage, deed of trust, loan agreement or other
     agreement or instrument to which the Company or any subsidiary of the
     Company is a party or by which the Company or any subsidiary of the
     Company is bound or to which any of the property or assets of the Company
     or any subsidiary of the Company is subject, nor will such action result
     in any violation of the provisions of the certificate of incorporation, as
     amended, or the by-laws of the Company or the Guarantor or any statute or
     any order, rule or regulation of any court or governmental agency or body
     having jurisdiction over the Company or any subsidiary of the Company or
     any of their properties; and no consent, approval, authorization, order,
     registration or qualification of or with any such court or governmental
     agency or body is required for the consummation by the Company and the
     Guarantor of the transactions contemplated by this Exchange and
     Registration Rights Agreement, except the registration under the
     Securities Act of the Securities, qualification of the Indenture under the
     Trust Indenture Act and such consents, approvals, authorizations,
     registrations or qualifications as may be required under State securities
     or blue sky laws in connection with the offering and distribution of the
     Securities.

          (b) This Exchange and Registration Rights Agreement has been duly
     authorized, executed and delivered by the Company.

     6. Indemnification.

          (a) Indemnification by the Company and the Guarantor. The Company and
     the Guarantor, jointly and severally, will indemnify and hold harmless
     each of the holders of Registrable Securities included in an Exchange
     Registration Statement, each of the Electing Holders of Registrable
     Securities included in a Shelf Registration Statement and each person who
     participates as a placement or sales agent or as an underwriter in any
     offering or sale of such Registrable Securities against any losses,
     claims, damages or liabilities, joint or several, to which such holder,
     agent or underwriter may become subject under the Securities Act or
     otherwise, insofar as such losses, claims, damages or liabilities (or
     actions in respect thereof) arise out of or are based upon an untrue
     statement or alleged untrue statement of a material fact contained in any
     Exchange Registration Statement or Shelf Registration Statement, as the
     case may be, under which such Registrable Securities were registered under
     the Securities Act, or any preliminary, final or summary prospectus
     contained therein or furnished by the Company to any such holder, Electing
     Holder, agent or underwriter, or any amendment or supplement thereto, or
     arise out of or are based upon the omission or alleged omission to state
     therein a material fact required to be stated therein or necessary to make
     the statements therein not misleading, and will reimburse such holder,
     such Electing Holder, such agent and such underwriter for any legal or
     other expenses reasonably incurred by them in connection with
     investigating or defending any such action or claim as such expenses are
     incurred; provided, however, that neither the Company nor the Guarantor
     shall be liable to any such person in any such case to the extent that any
     such loss, claim, damage or liability arises out of or is based upon an
     untrue statement or alleged untrue statement or omission or alleged
     omission made in such registration statement, or preliminary, final or
     summary prospectus, or amendment or supplement

                                      16
<PAGE>

     thereto, in reliance upon and in conformity with written information
     furnished to the Company by such person expressly for use therein.

          (b) Indemnification by the Holders and any Agents and Underwriters.
     The Company may require, as a condition to including any Registrable
     Securities in any registration statement filed pursuant to Section 2(b)
     hereof and to entering into any underwriting agreement with respect
     thereto, that the Company shall have received an undertaking reasonably
     satisfactory to it from the Electing Holder of such Registrable Securities
     and from each underwriter named in any such underwriting agreement,
     severally and not jointly, to (i) indemnify and hold harmless the Company,
     the Guarantor, and all other holders of Registrable Securities, against
     any losses, claims, damages or liabilities to which the Company, the
     Guarantor or such other holders of Registrable Securities may become
     subject, under the Securities Act or otherwise, insofar as such losses,
     claims, damages or liabilities (or actions in respect thereof) arise out
     of or are based upon an untrue statement or alleged untrue statement of a
     material fact contained in such registration statement, or any
     preliminary, final or summary prospectus contained therein or furnished by
     the Company to any such Electing Holder, agent or underwriter, or any
     amendment or supplement thereto, or arise out of or are based upon the
     omission or alleged omission to state therein a material fact required to
     be stated therein or necessary to make the statements therein not
     misleading, in each case to the extent, but only to the extent, that such
     untrue statement or alleged untrue statement or omission or alleged
     omission was made in reliance upon and in conformity with written
     information furnished to the Company by such Electing Holder or
     underwriter expressly for use therein, and (ii) reimburse the Company and
     the Guarantor for any legal or other expenses reasonably incurred by the
     Company and the Guarantor in connection with investigating or defending
     any such action or claim as such expenses are incurred.

          (c) Notices of Claims, Etc. Promptly after receipt by an indemnified
     party under subsection (a) or (b) above of notice of the commencement of
     any action, such indemnified party shall, if a claim in respect thereof is
     to be made against an indemnifying party pursuant to the indemnification
     provisions of or contemplated by this Section 6, notify such indemnifying
     party in writing of the commencement of such action; but the omission so
     to notify the indemnifying party shall not relieve it from any liability
     which it may have to any indemnified party otherwise than under the
     indemnification provisions of or contemplated by Section 6(a) or 6(b)
     hereof. In case any such action shall be brought against any indemnified
     party and it shall notify an indemnifying party of the commencement
     thereof, such indemnifying party shall be entitled to participate therein
     and, to the extent that it shall wish, jointly with any other indemnifying
     party similarly notified, to assume the defense thereof, with counsel
     reasonably satisfactory to such indemnified party (who shall not,
     except with the consent of the indemnified party, be counsel to the
     indemnifying party), and, after notice from the indemnifying party to such
     indemnified party of its election so to assume the defense thereof, such
     indemnifying party shall not be liable to such indemnified party for any
     legal expenses of other counsel or any other expenses, in each case
     subsequently incurred by such indemnified party, in connection with the
     defense thereof other than reasonable costs of investigation. No
     indemnifying party shall, without the written consent of the indemnified
     party, effect the settlement or compromise of, or consent to the entry of
     any judgment with respect to, any pending or threatened action or claim in
     respect of which indemnification or contribution may be sought hereunder
     (whether or not the indemnified party is an actual or potential party to
     such action or claim) unless such settlement, compromise or judgment (i)
     includes an unconditional release of the indemnified party from all
     liability arising out of such action or claim and (ii) does not include a
     statement

                                      17
<PAGE>

     as to or an admission of fault, culpability or a failure to act by or on
     behalf of any indemnified party.

          (d) Contribution. If for any reason the indemnification provisions
     contemplated by Section 6(a) or Section 6(b) are unavailable to or
     insufficient to hold harmless an indemnified party in respect of any
     losses, claims, damages or liabilities (or actions in respect thereof)
     referred to therein, then each indemnifying party shall contribute to the
     amount paid or payable by such indemnified party as a result of such
     losses, claims, damages or liabilities (or actions in respect thereof) in
     such proportion as is appropriate to reflect (i) the relative benefits
     received by the indemnifying party and the indemnified party from the
     transactions herein contemplated or, if the allocation provided by the
     preceding clause (i) is not permitted under applicable law, not only the
     relative benefits referred to in the preceding clause (i), but also (ii)
     the relative fault of the indemnifying party and the indemnified party in
     connection with the statements or omissions which resulted in such losses,
     claims, damages or liabilities (or actions in respect thereof), as well as
     any other relevant equitable considerations. The relative fault of such
     indemnifying party and indemnified party shall be determined by reference
     to, among other things, whether the untrue or alleged untrue statement of
     a material fact or omission or alleged omission to state a material fact
     relates to information supplied by such indemnifying party or by such
     indemnified party, and the parties' relative intent, knowledge, access to
     information and opportunity to correct or prevent such statement or
     omission. The parties hereto agree that it would not be just and equitable
     if contributions pursuant to this Section 6(d) were determined by pro rata
     allocation (even if the holders or any agents or underwriters or all of
     them were treated as one entity for such purpose) or by any other method
     of allocation which does not take account of the equitable considerations
     referred to in this Section 6(d). The amount paid or payable by an
     indemnified party as a result of the losses, claims, damages, or
     liabilities (or actions in respect thereof) referred to above shall be
     deemed to include any legal or other fees or expenses reasonably incurred
     by such indemnified party in connection with investigating or defending
     any such action or claim. Notwithstanding the provisions of this Section
     6(d), no holder shall be required to contribute any amount in excess of
     the amount by which the dollar amount of the proceeds received by such
     holder from the sale of any Registrable Securities (after deducting any
     fees, discounts and commissions applicable thereto) exceeds the amount of
     any damages which such holder has otherwise been required to pay by reason
     of such untrue or alleged untrue statement or omission or alleged
     omission, and no underwriter shall be required to contribute any amount in
     excess of the amount by which the total price at which the Registrable
     Securities underwritten by it and distributed to the public were offered
     to the public exceeds the amount of any damages which such underwriter has
     otherwise been required to pay by reason of such untrue or alleged untrue
     statement or omission or alleged omission. No person guilty of fraudulent
     misrepresentation (within the meaning of Section 11(f) of the Securities
     Act) shall be entitled to contribution from any person who was not guilty
     of such fraudulent misrepresentation. The holders' and any underwriters'
     obligations in this Section 6(d) to contribute shall be several in
     proportion to the principal amount of Registrable Securities registered or
     underwritten, as the case may be, by them and not joint.

          (e) The obligations of the Company and the Guarantor under this
     Section 6 shall be in addition to any liability which the Company or the
     Guarantor may otherwise have and shall extend, upon the same terms and
     conditions, to each officer, director and partner of each holder, agent
     and underwriter and each person, if any, who controls any holder, agent or
     underwriter within the meaning of the Securities Act; and the obligations
     of the holders and any agents or underwriters contemplated by this Section
     6 shall be in addition to any liability

                                      18
<PAGE>

     which the respective holder, agent or underwriter may otherwise have and
     shall extend, upon the same terms and conditions, to each officer and
     director of the Company or the Guarantor and to each person, if any, who
     controls the Company within the meaning of the Securities Act.

     7. Underwritten Offerings.

          (a) Selection of Underwriters. If any of the Registrable Securities
     covered by the Shelf Registration are to be sold pursuant to an
     underwritten offering, the managing underwriter or underwriters thereof
     shall be designated by Electing Holders holding at least a majority in
     aggregate principal amount of the Registrable Securities to be included in
     such offering, provided that such designated managing underwriter or
     underwriters is or are reasonably acceptable to the Company.

          (b) Participation by Holders. Each holder of Registrable Securities
     hereby agrees with each other such holder that no such holder may
     participate in any underwritten offering hereunder unless such holder (i)
     agrees to sell such holder's Registrable Securities on the basis provided
     in any underwriting arrangements approved by the persons entitled
     hereunder to approve such arrangements and (ii) completes and executes all
     questionnaires, powers of attorney, indemnities, underwriting agreements
     and other documents reasonably required under the terms of such
     underwriting arrangements.

     8. Rule 144.

     The Company covenants to the holders of Registrable Securities that, to
the extent it shall be required to do so under the Exchange Act, the Company
shall timely file the reports required to be filed by it under the Exchange Act
or the Securities Act (including the reports under Section 13 and 15(d) of the
Exchange Act referred to in subparagraph (c)(1) of Rule 144 adopted by the
Commission under the Securities Act) and the rules and regulations adopted by
the Commission thereunder, and shall take such further action as any holder of
Registrable Securities may reasonably request, all to the extent required from
time to time to enable such holder to sell Registrable Securities without
registration under the Securities Act within the limitations of the exemption
provided by Rule 144 under the Securities Act, as such Rule may be amended from
time to time, or any similar or successor rule or regulation hereafter adopted
by the Commission. Upon the request of any holder of Registrable Securities in
connection with that holder's sale pursuant to Rule 144, the Company shall
deliver to such holder a written statement as to whether it has complied with
such requirements.

     The Guarantor covenants to the holders of Registrable Securities that, to
the extent it shall be required to do so under the Exchange Act, the Guarantor
shall timely file the reports required to be filed by it under the Exchange Act
or the Securities Act (including the reports under Section 13 and 15(d) of the
Exchange Act referred to in subparagraph (c)(1) of Rule 144 adopted by the
Commission under the Securities Act) and the rules and regulations adopted by
the Commission thereunder, and shall take such further action as any holder of
Registrable Securities may reasonably request, all to the extent required from
time to time to enable such holder to sell Registrable Securities without
registration under the Securities Act within the limitations of the exemption
provided by Rule 144 under the Securities Act, as such Rule may be amended from
time to time, or any similar or successor rule or regulation hereafter adopted
by the Commission.

                                      19
<PAGE>

     9. Miscellaneous.

          (a) No Inconsistent Agreements. The Company represents, warrants,
     covenants and agrees that it has not granted, and shall not grant,
     registration rights with respect to Registrable Securities or any other
     securities which would be inconsistent with the terms contained in this
     Exchange and Registration Rights Agreement.

          (b) Specific Performance. The parties hereto acknowledge that there
     would be no adequate remedy at law if the Company or the Guarantor fails
     to perform any of its obligations hereunder and that the several
     Purchasers and the holders from time to time of the Registrable Securities
     may be irreparably harmed by any such failure, and accordingly agree that
     the several Purchasers and such holders, in addition to any other remedy
     to which they may be entitled at law or in equity, shall be entitled to
     compel specific performance of the obligations of the Company under this
     Exchange and Registration Rights Agreement in accordance with the terms
     and conditions of this Exchange and Registration Rights Agreement, in any
     court of the United States or any State thereof having jurisdiction.

          (c) Notices. All notices, requests, claims, demands, waivers and
     other communications hereunder shall be in writing and shall be deemed to
     have been duly given when delivered by hand, if delivered personally or by
     courier, or three days after being deposited in the mail (registered or
     certified mail, postage prepaid, return receipt requested) as follows: If
     to the Company, to it at 600 Grant Street, 60th Floor, Pittsburgh, PA
     15219, Attention: President, and if to a holder, to the address of such
     holder set forth in the security register or other records of the Company,
     or to such other address as the Company or any such holder may have
     furnished to the other in writing in accordance herewith, except that
     notices of change of address shall be effective only upon receipt.

          (d) Parties in Interest. All the terms and provisions of this
     Exchange and Registration Rights Agreement shall be binding upon, shall
     inure to the benefit of and shall be enforceable by the parties hereto and
     the holders from time to time of the Registrable Securities and the
     respective successors and assigns of the parties hereto and such holders.
     In the event that any transferee of any holder of Registrable Securities
     shall acquire Registrable Securities, in any manner, whether by gift,
     bequest, purchase, operation of law or otherwise, such transferee shall,
     without any further writing or action of any kind, be deemed a beneficiary
     hereof for all purposes and such Registrable Securities shall be held
     subject to all of the terms of this Exchange and Registration Rights
     Agreement, and by taking and holding such Registrable Securities such
     transferee shall be entitled to receive the benefits of, and be
     conclusively deemed to have agreed to be bound by all of the applicable
     terms and provisions of this Exchange and Registration Rights Agreement.
     If the Company shall so request, any such successor, assign or transferee
     shall agree in writing to acquire and hold the Registrable Securities
     subject to all of the applicable terms hereof.

          (e) Survival. The respective indemnities, agreements,
     representations, warranties and each other provision set forth in this
     Exchange and Registration Rights Agreement or made pursuant hereto shall
     remain in full force and effect regardless of any investigation (or
     statement as to the results thereof) made by or on behalf of any holder of
     Registrable Securities, any director, officer or partner of such holder,
     any agent or underwriter or any director, officer or partner thereof, or
     any controlling person of any of the foregoing, and shall survive delivery
     of and payment for the Registrable Securities pursuant to the Purchase
     Agreement and the transfer and registration of Registrable Securities by
     such holder and the consummation of an Exchange Offer.

                                      20
<PAGE>

          (f) Governing Law. This Exchange and Registration Rights Agreement
     shall be governed by and construed in accordance with the laws of the
     State of New York.

          (g) Headings. The descriptive headings of the several Sections and
     paragraphs of this Exchange and Registration Rights Agreement are inserted
     for convenience only, do not constitute a part of this Exchange and
     Registration Rights Agreement and shall not affect in any way the meaning
     or interpretation of this Exchange and Registration Rights Agreement.

          (h) Entire Agreement; Amendments. This Exchange and Registration
     Rights Agreement and the other writings referred to herein (including the
     Indenture and the form of Securities) or delivered pursuant hereto which
     form a part hereof contain the entire understanding of the parties with
     respect to its subject matter. This Exchange and Registration Rights
     Agreement supersedes all prior agreements and understandings between the
     parties with respect to its subject matter. This Exchange and Registration
     Rights Agreement may be amended and the observance of any term of this
     Exchange and Registration Rights Agreement may be waived (either generally
     or in a particular instance and either retroactively or prospectively)
     only by a written instrument duly executed by the Company and the holders
     of at least a majority in aggregate principal amount of the Registrable
     Securities at the time outstanding. Each holder of any Registrable
     Securities at the time or thereafter outstanding shall be bound by any
     amendment or waiver effected pursuant to this Section 9(h), whether or not
     any notice, writing or marking indicating such amendment or waiver appears
     on such Registrable Securities or is delivered to such holder.

          (i) Inspection. For so long as this Exchange and Registration Rights
     Agreement shall be in effect, this Exchange and Registration Rights
     Agreement and a complete list of the names and addresses of all the
     holders of Registrable Securities shall be made available for inspection
     and copying on any business day by any holder of Registrable Securities
     for proper purposes only (which shall include any purpose related to the
     rights of the holders of Registrable Securities under the Securities, the
     Indenture and this Agreement) at the offices of the Company at the address
     thereof set forth in Section 9(c) above, upon reasonable notice to the
     Company, and at the office of the Trustee under the Indenture.

          (j) Counterparts. This agreement may be executed by the parties in
     counterparts, each of which shall be deemed to be an original, but all
     such respective counterparts shall together constitute one and the same
     instrument.

                                      21
<PAGE>

     If the foregoing is in accordance with your understanding, please sign and
return to us one for the Company, the Guarantor and each of the Representatives
plus one for each counsel, counterparts hereof, and upon the acceptance hereof
by you, on behalf of each of the several Purchasers, this letter and such
acceptance hereof shall constitute a binding agreement between each of the
several Purchasers, the Company and the Guarantor. It is understood that your
acceptance of this letter on behalf of each of the several Purchasers is
pursuant to the authority set forth in a form of Agreement among Purchasers,
the form of which shall be submitted to the Company for examination upon
request, but without warranty on your part as to the authority of the signers
thereof.

                                           Very truly yours,

                                           H. J. Heinz Finance Company

                                           By: /s/ Leonard A. Cullo, Jr.
                                              ..................................
                                              Name:  Leonard A. Cullo, Jr.
                                              Title: President

                                           H. J. Heinz Company

                                           By: /s/ Leonard A. Cullo, Jr.
                                              ..................................
                                              Name:  Leonard A. Cullo, Jr.
                                              Title: Treasurer

Accepted as of the date hereof:
Goldman, Sachs & Co.
J.P. Morgan Securities Inc.
Banc of America Securities LLC
HSBC Securities (USA) Inc.
Banc One Capital Markets, Inc.
BNP Paribas Securities Corp.
Mellon Financial Markets, LLC
PNC Capital Markets, Inc.
UBS Warburg LLC

By:       /s/ Goldman, Sachs & Co.
   .........................................
              Goldman, Sachs & Co.

   On behalf of each of the Purchasers

                                      22
<PAGE>

                                                                      Exhibit A

                          H. J. Heinz Finance Company

                        INSTRUCTION TO DTC PARTICIPANTS

                               (Date of Mailing)

                     URGENT - IMMEDIATE ATTENTION REQUESTED

                        DEADLINE FOR RESPONSE: [DATE] *

The Depository Trust Company ("DTC") has identified you as a DTC Participant
through which beneficial interests in the H. J. Heinz Finance Company (the
"Company"), the 6.625% Guaranteed Notes due July 15, 2011 (the "Securities")
are held.

The Company is in the process of registering the Securities under the
Securities Act of 1933 for resale by the beneficial owners thereof. In order to
have their Securities included in the registration statement, beneficial owners
must complete and return the enclosed Notice of Registration Statement and
Selling Securityholder Questionnaire.

It is important that beneficial owners of the Securities receive a copy of the
enclosed materials as soon as possible as their rights to have the Securities
included in the registration statement depend upon their returning the Notice
and Questionnaire by [Deadline For Response]. Please forward a copy of the
enclosed documents to each beneficial owner that holds interests in the
Securities through you. If you require more copies of the enclosed materials or
have any questions pertaining to this matter, please contact H. J. Heinz
Finance Company, 600 Grant Street, 60th Floor, Pittsburgh, PA 15219; Attention:
President.

---------
*Not less than 28 calendar days from date of mailing.

                                      A-1
<PAGE>

                          H. J. Heinz Finance Company

                        Notice of Registration Statement

                                      and

                      Selling Securityholder Questionnaire

                                     (Date)

Reference is hereby made to the Exchange and Registration Rights Agreement (the
"Exchange and Registration Rights Agreement") between H. J. Heinz Finance
Company (the "Company"), H. J. Heinz Company (the "Guarantor") and the several
Purchasers named therein. Pursuant to the Exchange and Registration Rights
Agreement, the Company has filed with the United States Securities and Exchange
Commission (the "Commission") a registration statement on Form [S-_] (File No.
333-____) (the "Shelf Registration Statement") for the registration and resale
under Rule 415 of the Securities Act of 1933, as amended (the "Securities
Act"), of the Company's 6.625% Guaranteed Notes due July 15, 2011 (the
"Securities"). A copy of the Exchange and Registration Rights Agreement is
attached hereto. All capitalized terms not otherwise defined herein shall have
the meanings ascribed thereto in the Exchange and Registration Rights
Agreement.

Each beneficial owner of Registrable Securities (as defined below) is entitled
to have the Registrable Securities beneficially owned by it included in the
Shelf Registration Statement. In order to have Registrable Securities included
in the Shelf Registration Statement, this Notice of Registration Statement and
Selling Securityholder Questionnaire ("Notice and Questionnaire") must be
completed, executed and delivered to the Company's counsel at the address set
forth herein for receipt ON OR BEFORE [Deadline for Response]. Beneficial
owners of Registrable Securities who do not complete, execute and return this
Notice and Questionnaire by such date (i) will not be named as selling
securityholders in the Shelf Registration Statement and (ii) may not use the
Prospectus forming a part thereof for resales of Registrable Securities.

Certain legal consequences arise from being named as a selling securityholder
in the Shelf Registration Statement and related Prospectus. Accordingly,
holders and beneficial owners of Registrable Securities are advised to consult
their own securities law counsel regarding the consequences of being named or
not being named as a selling securityholder in the Shelf Registration Statement
and related Prospectus.

The term "Registrable Securities" is defined in the Exchange and Registration
Rights Agreement.

                                      A-2
<PAGE>

                                    ELECTION

The undersigned holder (the "Selling Securityholder") of Registrable Securities
hereby elects to include in the Shelf Registration Statement the Registrable
Securities beneficially owned by it and listed below in Item (3). The
undersigned, by signing and returning this Notice and Questionnaire, agrees to
be bound with respect to such Registrable Securities by the terms and
conditions of this Notice and Questionnaire and the Exchange and Registration
Rights Agreement, including, without limitation, Section 6 of the Exchange and
Registration Rights Agreement, as if the undersigned Selling Securityholder
were an original party thereto.

Upon any sale of Registrable Securities pursuant to the Shelf Registration
Statement, the Selling Securityholder will be required to deliver to the
Company and Trustee the Notice of Transfer set forth in Appendix A to the
Prospectus and as Exhibit B to the Exchange and Registration Rights Agreement.

The Selling Securityholder hereby provides the following information to the
Company and represents and warrants that such information is accurate and
complete:

                                      A-3
<PAGE>

                                 QUESTIONNAIRE

(1)(a) Full Legal Name of Selling Securityholder:

       ________________________________________________________________________
   (b) Full Legal Name of Registered Holder (if not the same as in (a) above)
       of Registrable Securities Listed in Item (3) below:

       ________________________________________________________________________
   (c) Full Legal Name of DTC Participant (if applicable and if not the
       same as (b) above) Through Which Registrable Securities Listed in
       Item (3) below are Held:

       ________________________________________________________________________

(2)    Address for Notices to Selling Securityholder:
                         _____________________________
                         _____________________________
                         _____________________________
       Telephone:        _____________________________
       Fax:              _____________________________
       Contact Person:   _____________________________

(3)    Beneficial Ownership of Securities:

       Except as set forth below in this Item (3), the undersigned does not
       beneficially own any Securities.

   (a) Principal amount of Registrable Securities beneficially owned:__________
       CUSIP No(s). of such Registrable Securities:____________________________

   (b) Principal amount of Securities other than Registrable Securities
       beneficially owned:

       ________________________________________________________________________
       CUSIP No(s). of such other Securities:__________________________________

   (c) Principal amount of Registrable Securities which the undersigned
       wishes to be included in the Shelf Registration Statement:______________
       CUSIP No(s). of such Registrable Securities to be included in the Shelf
       Registration Statement:_________________________________________________

(4)    Beneficial Ownership of Other Securities of the Company:

       Except as set forth below in this Item (4), the undersigned Selling
       Securityholder is not the beneficial or registered owner of any
       other securities of the Company, other than the Securities listed
       above in Item (3).

       State any exceptions here:

                                      A-4
<PAGE>

(5)    Relationships with the Company:

       Except as set forth below, neither the Selling Securityholder nor any
       of its affiliates, officers, directors or principal equity holders
       (5% or more) has held any position or office or has had any other
       material relationship with the Company (or its predecessors or
       affiliates) during the past three years.

       State any exceptions here:

(6)    Plan of Distribution:

       Except as set forth below, the undersigned Selling Securityholder
       intends to distribute the Registrable Securities listed above in Item
       (3) only as follows (if at all): Such Registrable Securities may be
       sold from time to time directly by the undersigned Selling
       Securityholder or, alternatively, through underwriters,
       broker-dealers or agents. Such Registrable Securities may be sold in
       one or more transactions at fixed prices, at prevailing market prices
       at the time of sale, at varying prices determined at the time of
       sale, or at negotiated prices. Such sales may be effected in
       transactions (which may involve crosses or block transactions) (i) on
       any national securities exchange or quotation service on which the
       Registered Securities may be listed or quoted at the time of sale,
       (ii) in the over-the-counter market, (iii) in transactions otherwise
       than on such exchanges or services or in the over-the-counter market,
       or (iv) through the writing of options. In connection with sales of
       the Registrable Securities or otherwise, the Selling Securityholder
       may enter into hedging transactions with broker-dealers, which may in
       turn engage in short sales of the Registrable Securities in the
       course of hedging the positions they assume. The Selling
       Securityholder may also sell Registrable Securities short and deliver
       Registrable Securities to close out such short positions, or loan or
       pledge Registrable Securities to broker-dealers that in turn may sell
       such securities.

       State any exceptions here:

By signing below, the Selling Securityholder acknowledges that it understands
its obligation to comply, and agrees that it will comply, with the provisions
of the Exchange Act and the rules and regulations thereunder, particularly
Regulation M.

In the event that the Selling Securityholder transfers all or any portion of
the Registrable Securities listed in Item (3) above after the date on which
such information is provided to the Company, the Selling Securityholder agrees
to notify the transferee(s) at the time of the transfer of its rights and
obligations under this Notice and Questionnaire and the Exchange and
Registration Rights Agreement.

By signing below, the Selling Securityholder consents to the disclosure of the
information contained herein in its answers to Items (1) through (6) above and
the inclusion of such information in the Shelf Registration Statement and
related Prospectus. The Selling Securityholder understands that such
information will be relied upon by the Company in connection with the
preparation of the Shelf Registration Statement and related Prospectus.

                                      A-5
<PAGE>

In accordance with the Selling Securityholder's obligation under Section 3(d)
of the Exchange and Registration Rights Agreement to provide such information
as may be required by law for inclusion in the Shelf Registration Statement,
the Selling Securityholder agrees to promptly notify the Company of any
inaccuracies or changes in the information provided herein which may occur
subsequent to the date hereof at any time while the Shelf Registration
Statement remains in effect. All notices hereunder and pursuant to the Exchange
and Registration Rights Agreement shall be made in writing, by hand-delivery,
first-class mail, or air courier guaranteeing overnight delivery as follows:

           (i)  To the Company:

                                                  _____________________________
                                                  _____________________________
                                                  _____________________________
                                                  _____________________________
                                                  _____________________________

           (ii) With a copy to:

                                                  _____________________________
                                                  _____________________________
                                                  _____________________________
                                                  _____________________________
                                                  _____________________________

Once this Notice and Questionnaire is executed by the Selling Securityholder
and received by the Company's counsel, the terms of this Notice and
Questionnaire, and the representations and warranties contained herein, shall
be binding on, shall inure to the benefit of and shall be enforceable by the
respective successors, heirs, personal representatives, and assigns of the
Company and the Selling Securityholder (with respect to the Registrable
Securities beneficially owned by such Selling Securityholder and listed in Item
(3) above. This Agreement shall be governed in all respects by the laws of the
State of New York.

                                      A-6
<PAGE>

IN WITNESS WHEREOF, the undersigned, by authority duly given, has caused this
Notice and Questionnaire to be executed and delivered either in person or by
its duly authorized agent.

Dated:___________________

      _________________________________________________________________________
      Selling Securityholder
      (Print/type full legal name of beneficial owner of Registrable Securities)

      By:______________________________________________________________________
         Name:
         Title:

PLEASE RETURN THE COMPLETED AND EXECUTED NOTICE AND QUESTIONNAIRE FOR RECEIPT
ON OR BEFORE [DEADLINE FOR RESPONSE] TO THE COMPANY'S COUNSEL AT:

                         _____________________________
                         _____________________________
                         _____________________________
                         _____________________________
                         _____________________________

                                      A-7
<PAGE>

                                                                      Exhibit B

             NOTICE OF TRANSFER PURSUANT TO REGISTRATION STATEMENT

Bank One, National Association
H. J. Heinz Finance Company
c/o Bank One, National Association
1 Bank One Plaza
Chicago, IL 60670

Attention:  Trust Officer

         Re: H. J. Heinz Finance Company (the "Company")
             6.625% Guaranteed Notes due July 15, 2011

Dear Sirs:

Please be advised that ____________ has transferred $__________ aggregate
principal amount of the above-referenced Notes pursuant to an effective
Registration Statement on Form [S-____] (File No. 333-_____) filed by the
Company.

We hereby certify that the prospectus delivery requirements, if any, of the
Securities Act of 1933, as amended, have been satisfied and that the
above-named beneficial owner of the Notes is named as a "Selling Holder" in the
Prospectus dated [date] or in supplements thereto, and that the aggregate
principal amount of the Notes transferred are the Notes listed in such
Prospectus opposite such owner's name.

Dated:

                                                     Very truly yours,

                                                        _______________________
                                                        (Name)

                                                     By:_______________________
                                                        (Authorized Signature)

                                      B-1

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