Document:

<PAGE>

                                                                     Exhibit 4.3

               DATED               18 December                2001
               ---------------------------------------------------

                             (1) DAVID MUIR CAFFERTY

                               (2) HLM DESIGN, INC

                          PUT AND CALL OPTION AGREEMENT

                                [LOGO] RADCLIFFES

                             5 Great College Street
                                   Westminster
                                 London SW1P3SJ

                            Tel +44 (0) 20 7222 7040
                            Fax +44 (0) 20 7222 6208
                                     LDE 113
                               www.radcliffes.com

<PAGE>

                          PUT AND CALL OPTION AGREEMENT

THIS AGREEMENT is made the 18th  day of December 2001

PARTIES:

(1)  DAVID MUIR CAFFERTY of Brunswick Villa, 3 Burnside Close, Twickenham TW1
     1ET ("the Shareholder")

(2)  HLM DESIGN, INC a Delaware Corporation with an office at Suite 2950, 121
     West Trade Street, Charlotte, North Carolina, 28202-5399, USA ("HLM")

RECITALS:

(A)  GA Design International (Holdings) Limited ("GA") is a wholly owned
     subsidiary of HLM.

(B)  GA is purchasing the entire issued share capital of HLM Architects Ltd
     pursuant to the Stock Purchase Agreement.

(C)  The Shareholder is one of the Sellers of the share capital of HLM
     Architects Ltd and is due to be issued shares in GA as part satisfaction of
     the purchase consideration for his shares in HLM Architects Ltd such shares
     being issued in such numbers and on such dates as is briefly set out in the
     Schedule to this Agreement and all as more particularly described in the
     Stock Purchase Agreement.

(D)  The parties have agreed to grant each other options over such shares in GA
     on the basis set out in this agreement

1    Definitions and Interpretations

In this Agreement unless there is something in the subject or context which is
inconsistent, the following expressions have the following meanings:

     "Completion Date/s"             Means the last working day of a period 5
                                     days commencing with a relevant Exercise
                                     Date

     "Encumbrance"                   Means any charge, lien, equity, third
                                     party right, option, right of
                                     pre-emption or any other encumbrance,
                                     priority, or security interest of
                                     whatsoever nature other than any such
                                     arising under the Articles

     "Exercise Date"                 Means the date of service of an Option
                                     Notice

                                       1

<PAGE>

     "First Option Period"           Means the period of 5 days commencing
                                     with the First Anniversary of the Stock
                                     Purchase Agreement or if later the issue
                                     by GA of the First Option Shares

     "First Option Shares"           Means the number of shares in GA shown
                                     in the Schedule as due to be issued to
                                     The Shareholder on the First Anniversary
                                     of the Stock Purchase Agreement

     "Fourth Option Period"          Means the period of 5 days commencing
                                     with the Fourth Anniversary of the Stock
                                     Purchase Agreement or if later the issue
                                     by GA of the Fourth Option Shares

     "Fourth Option Shares"          Means the number of shares in GA shown
                                     in the Schedule as due to be issued to
                                     the Shareholder on the Fourth
                                     Anniversary of the Stock Purchase
                                     Agreement

     "HLM Stock                      Means the shares in HLM's Common Stock
                                     having $.001 par value and which may be
                                     issued to the Shareholder under the
                                     provisions of this agreement

     "Option Notice"                 Means a notice exercising an Option

     "Option Period/s"               Means any or all of the First Option
                                     Period, the Second Option Period, the
                                     Third Option Period or the Fourth Option
                                     Period

     "Option Shares"                 Means any or all of the First Option
                                     Shares, the Second Option Shares, the
                                     Third Option Shares and the Fourth
                                     Option Shares as the context may require

     "Option/s"                      Means one or more of the First Option
                                     Shares the Second Option Shares the
                                     Third Option Shares or the Fourth Option
                                     Shares as the context requires

     "Second Option Period"          Means the period of 5 days commencing
                                     with the Second Anniversary of the Stock
                                     Purchase Agreement or if later the issue
                                     by GA of the Second Option Shares

     "Second Option Shares"          Means the number of shares in GA shown
                                     in the Schedule as due to be issued to
                                     the Shareholder on the Second
                                     Anniversary of the Stock Purchase
                                     Agreement

                                       2

<PAGE>

     "Stock Purchase Agreement"      Means a Stock Purchase Agreement having
                                     even date herewith and made between
                                     inter alia the Shareholder, GA, HLM
                                     Architects Ltd and HLM.

     "Third Option Period"           Means the period of 5 days commencing
                                     with the Third Anniversary of the Stock
                                     Purchase Agreement or if later the issue
                                     by GA of the Third Option Shares

     "Third Option Shares"           Means the number of shares in GA shown
                                     in the Schedule as due to be issued to
                                     The Shareholder on the Third Anniversary
                                     of the Stock Purchase Agreement

     "Transfer Terms"                Means that the Option Shares shall be
                                     transferred by the Shareholder with full
                                     title guarantee and free from any
                                     encumbrance and together with all rights
                                     attaching thereto as at the Exercise
                                     Date or at any time thereafter

1.1  Expressions in the singular shall include the plural and vice versa and in
     one gender shall include all genders.

1.2  References to any statute or statutory provisions shall be construed as
     references to such statute or statutory provision as respectively amended
     or re-enacted or as their operation is modified by and any other statute or
     statutory provision (whether before or after the date of this Agreement)
     and shall include any provisions of which they are re-enactments) (whether
     with or without modification) which shall include subordinate legislation
     made under the relevant statute.

1.3  References to recitals, clauses and schedules are references to recitals
     and clauses of and schedules to this Agreement.

1.4  The Schedule forms part of this Agreement.

2    Options

2.1  The Shareholder hereby grants to HLM the right to require him to transfer
     to HLM the Option Shares shown in column 1 of the Table below in exchange
     for the issue by HLM to The Shareholder of the number of shares in HLM
     shown opposite in column 2 of the Table such rights in respect of such
     shares to be exercised in the periods shown opposite in column 3 of the
     Table.

2.2  HLM hereby grants to the Shareholder the right to require HLM to take a
     transfer from him of

                                       3

<PAGE>

     the Option Shares shown in column 1 of the Table below in exchange for the
     issue by HLM to The Shareholder of the number of shares in HLM shown
     opposite in column 2 of the Table such rights in respect of such shares to
     be exercised in the periods shown opposite in column 3 of the Table.

<TABLE>
<CAPTION>
          Column 1                    Column 2                    Column 3
 No. of Shares in GA to be   No. of Shares to be issued     Period during with
        transferred                   by HLM              action to be exercised
--------------------------   --------------------------   ------------------------
<S>                                   <C>                 <C>
The First Option Shares               9,869               The First Option Period

The Second Option Shares              9,869               The Second Option Period

The Third Option Shares               9,869               The Third Option Period

The Fourth Option Shares              9,867               The Fourth Option Period
</TABLE>

2.3  The service by either party on the other of a notice exercising any of its
     Options hereunder shall automatically terminate and extinguish the right of
     the other party to exercise his Option in respect of the same parcel of
     shares.

3    Adjustments necessary to Option Shares

If any right of set off to which GA is entitled under the Stock Purchase
Agreement is exercised by GA against the Option Shares or any of them or for any
other reason the number of shares being issued by GA shall be less than the
number shown in the Schedule below then the rights granted by clauses 2.1 and
2.2 of this agreement shall operate on such reduced number of shares and the
number of HLM Shares to be issued in exchange by HLM shall be reduced
proportionately

4    Completion

4.1  The Options shall be completed on their respective Completion Dates.

4.2  On the relevant Completion Date the Shareholder shall hand to HLM his share
     certificate(s) together with a duly executed transfer of the relevant
     Option Shares and HLM shall hand the Shareholder the share certificate in
     his name for the relevant number of shares in HLM to which he is then
     entitled.

5    Ownership and Title to GA Shares

5.1  The Shareholder shall transfer the Option Shares on the Transfer Terms.

5.2  In relation to the Option Shares the Shareholder undertakes not to:

     5.2.1 dispose of any legal or beneficial interest in them nor grant any
           option over them

                                       4

<PAGE>

     5.2.2 create or allow to be created any encumbrance over them.

6    Securities Laws Matters

6.1  The Shareholder acknowledges that the securities of HLM issuable in the
     future to the Shareholder upon any conversion of or exchange for the Option
     Shares (the said securities together with the options and/or warrants to
     purchase Securities of HLM issued to the Seller in connection with the
     closing of the Stock Purchase Agreement and the Securities of HLM
     underlying such options and/or warrants being collectively referred to as
     the "Securities") have not been, and will not be, registered under the
     United States Securities Act of 1933, as amended (the "Securities Act"), or
     under any other applicable securities laws, and may not be offered or sold,
     and in the case of options and warrants, exercised, in the United States,
     its territories and possessions or offered and sold to, and in the case of
     options and warrants, exercised by or on behalf of, "US Persons", as
     defined in Rule 902(k) of Regulation S (Rule 901 through Rule 905, and
     Preliminary Notes) promulgated by the U.S. Securities and Exchange
     Commission under the Securities Act ("Regulation S"), unless such sale or
     exercise, as the case may be, is in accordance with the provisions of
     Regulation S or unless the Securities are registered under the Securities
     Act and any other such other applicable securities laws, or an exemption
     from the registration requirements of the Securities Act and any such other
     applicable securities laws is available. Further, such Securities shall be
     subject to other agreements including but not limited to the Stockholders
     Agreement referred to in clause 1 hereof, restricting their transferability
     and setting forth certain other restrictions.

6.2  The Shareholder certifies, represents and warrants that the Shareholder

     6.2.1 Is not a US Person because he is not a citizen of the United States
          and his residence and principal place of work is located in the United
          Kingdom,

     6.2.2 Is not acquiring the Securities for the account or benefit of any US
          Person,

     6.2.3 Was outside of the United States when the offer of the Securities was
          made to him and

     6.2.4 is outside of the United States at the time of entering into this
          Agreement.

6.3  The Shareholder represents and warrants that:-

     6.3.1 He is well versed in financial matters and has such knowledge and
          experience in financial and business matters and that he is fully
          capable of understanding the merits and risks of the investment being
          made in the Securities and the risks involved in connection therewith;
          and

                                       5

<PAGE>

     6.3.2 He is acting herein for his own account and is acquiring these
          Securities for investment without a view to the resale or other
          distribution thereof. The Shareholder is financially able to hold the
          Securities for long term investment, believes that the nature and
          amount of the Securities to be acquired hereunder is consistent with
          his overall investment programme and financial position, and
          recognises that there are substantial risks involved in an investment
          in the Securities; and

     6.3.3 He has received and reviewed the prospectus dated June 12, 1998
          relating to the initial public offering of the Common Stock of HLM,
          its annual report on Form 10-K for the fiscal years ended April 28,
          2000 and April 27, 2001.

6.4  The Shareholder acknowledges and agrees that

     6.4.1 he shall only offer and resell, or in the case of options or
          warrants, exercise, the Securities pursuant to registration under the
          Securities Act and under any other applicable securities laws, or in
          accordance with the provisions of Regulation S and/or pursuant to an
          available exemption from such registration requirements, as
          established through the delivery of evidence satisfactory to HLM,
          including, if requested, the delivery of an opinion of counsel (such
          opinion and counsel each being satisfactory to HLM), to the effect
          that such registration is not required,

     6.4.2 he shall not engage in hedging transactions with regard to the
          Securities unless in compliance with the Securities Act and

     6.4.3 a legend substantially similar to the following will be placed on the
          certificates representing the Securities:

          THE TRANSFER OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE IS
          PROHIBITED EXCEPT PURSUANT TO REGISTRATION UNDER THE UNITED STATES
          SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT") AND UNDER
          ANY OTHER APPLICABLE SECURITIES LAWS, OR UPON THE DELIVERY OF EVIDENCE
          SATISFACTORY TO THE ISSUER HEREOF, INCLUDING, IF REQUESTED, THE
          DELIVERY OF AN OPINION OF COUNSEL SUCH OPINION AND COUNSEL EACH BEING
          SATISFACTORY TO THE ISSUER HEREOF, TO THE EFFECT THAT SUCH
          REGISTRATION IS NOT REQUIRED BECAUSE SUCH TRANFER IS PURSUANT TO
          AVAILABLE EXEMPTION FROM SUCH REGISTRATION REQUIREMENTS AND/OR SUCH
          TRANSFER IN ACCORDANCE WITH THE PROVISIONS OF REGULATION S

                                       6

<PAGE>

          PROMULGATED UNDER THE SECURITIES ACT.

          HEDGING TRANSACTIONS INVOLVING THE SECURITIES REPRESENTED BY THIS
          CERTIFICATE MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH THE
          SECURITIES ACT.

6.5      The Parties hereby acknowledge and agree that HLM will refuse to
         register, any transfer, and in the case of options and warrants, to
         allow the exercise of, and shall cause the transfer agent for the HLM
         Common Stock to refuse to register any transfer, or in the case of
         options and warrants, to allow the exercise of, the Securities not made
         in accordance with the provisions of Regulation S, pursuant to
         registration under the Securities Act, or pursuant to an available
         exemption from such registration.

7    Other Requirements

Prior to delivery of the first instalment of HLM Stock the Shareholder shall be
required to execute

7.1  The then current form of HLM Stockholders' Agreement, which shall be
     substantially in the form attached hereto as Exhibit 1 which Stockholders'
     Agreement shall be applicable to all of the Shareholder's HLM Stock; and

7.2  a Registration Rights Agreement, which shall be substantially in the form
     attached hereto as Exhibit 2.

8    Reservation of Shares

HLM shall reserve on its books sufficient shares of the HLM Stock required to
satisfy all the Stock to be issued by HLM under this Option Agreement.

9    Further Assurance

HLM and the Shareholder will enter into and execute such documentation and deeds
as may be necessary to give full force and effect to the Options.

10   Notices

Any notice or direction required or permitted to be given under this Agreement
shall be in writing and shall be sent to the Shareholder's usual residential
address or to such other address in England as he may designate by notice to the
other parties in accordance with this Clause 10 and in the case of the Vendor be
sent to its registered office from time to time. Any such notice or direction
shall be delivered personally or sent in a pre-paid letter by the [recorded
delivery] service and shall be deemed to have been served if by delivery when
delivered and if by [recorded delivery] 48 hours after posting.

                                       7

<PAGE>

11   General

11.1 This Agreement may not be assigned in whole or in part. It is binding upon
     the Shareholder his personal representatives and other successors.

11.2 The clause headings in this Agreement are inserted for convenience only and
     are not intended to affect the meaning or interpretation of this Agreement.

11.3 This Agreement shall be governed by, construed and interpreted in
     accordance with English law and the parties submit to the jurisdiction of
     the English Court. If any provision of this Agreement shall be held to be
     invalid, illegal or unenforceable, the validity, legality and
     enforceability of the remaining provisions shall not be in any way affected
     or impaired thereby.

11.4 The parties agree that this Agreement constitutes the complete and
     exclusive statement of the Agreement between them, and supersedes all
     agreements, understandings, proposals, oral or written, and all other
     communications between them relating to the subject matter of this
     Agreement, provided that nothing in this Agreement shall be construed as
     excluding liability for fraudulent misrepresentation.

                                    SCHEDULE

<TABLE>
<CAPTION>
                    Intended Date of Issue                        No. of Shares in GA
     --------------------------------------------------   --------------------------------
     <S>                                                  <C>
     First Anniversary of the Stock Purchase Agreement    450 ("the First Option Shares")

     Second Anniversary of the Stock Purchase Agreement   450 ("the Second Option Shares")

     Third Anniversary of the Stock Purchase Agreement    450 ("the Third Option Shares")

     Fourth Anniversary of the Stock Purchase Agreement   450 ("the Fourth Option Shares")
</TABLE>

IN WITNESS whereof the parties have entered into this Agreement the day and year
first before written

                                       8

<PAGE>

EXECUTED and DELIVERED as a DEED by                           /s/ David Cafferty
DAVID MUIR CAFFERTY
in the presence of:

Witness's Signature:

Witness's Name:         /s/ John Peacock

Witness's Address:          94 High Street
                            Wimbledon
                            London SW19

                                                             Signed as a deed by
                                                             HLM DESIGNS, INC.

ATTEST

                                                           By: /s/ Joseph Harris
                                                                   President

     /s/ Beverly Bertram Timm
         Secretary

                                       9<PAGE>

                                                                     Exhibit 4.4

               DATED               18 December                2001
               ---------------------------------------------------

                            (1) JOHN RUSSELL FERGUSON

                               (2) HLM DESIGN, INC

                          PUT AND CALL OPTION AGREEMENT

                                [LOGO] RADCLIFFES

                             5 Great College Street
                                   Westminster
                                 London SW1P3SJ

                            Tel +44 (0) 20 7222 7040
                            Fax +44 (0) 20 7222 6208
                                     LDE 113
                               www.radcliffes.com

<PAGE>

                          PUT AND CALL OPTION AGREEMENT

THIS AGREEMENT is made the 18th day of December 2001

PARTIES:

(1)  JOHN RUSSELL FERGUSON of Hillfoot Cottage, Hillfoot Road, Totley,
     Sheffield, South Yorkshire S17 4AP ("the Shareholder")

(2)  HLM DESIGN, INC a Delaware Corporation with an office at Suite 2950, 121
     West Trade Street, Charlotte, North Carolina, 28202-5399, USA ("HLM")

RECITALS:

(A)  GA Design International (Holdings) Limited ("GA") is a wholly owned
     subsidiary of HLM.

(B)  GA is purchasing the entire issued share capital of HLM Architects Ltd
     pursuant to the Stock Purchase Agreement.

(C)  The Shareholder is one of the Sellers of the share capital of HLM
     Architects Ltd and is due to be issued shares in GA as part satisfaction of
     the purchase consideration for his shares in HLM Architects Ltd such shares
     being issued in such numbers and on such dates as is briefly set out in the
     Schedule to this Agreement and all as more particularly described in the
     Stock Purchase Agreement.

(D)  The parties have agreed to grant each other options over such shares in GA
     on the basis set out in this agreement

1    Definitions and Interpretations

In this Agreement unless there is something in the subject or context which is
inconsistent, the following expressions have the following meanings:

    "Completion Date/s"              Means the last working day of a period 5
                                     days commencing with a relevant Exercise
                                     Date

    "Encumbrance"                    Means any charge, lien, equity, third
                                     party right, option, right of
                                     pre-emption or any other encumbrance,
                                     priority, or security interest of
                                     whatsoever nature other than any such
                                     arising under the Articles

    "Exercise Date"                  Means the date of service of an Option
                                     Notice

                                       1

<PAGE>

    "FirstOption Period"             Means the period of 5 days commencing
                                     with the First Anniversary of the Stock
                                     Purchase Agreement or if later the issue
                                     by GA of the First Option Shares

    "FirstOption Shares"             Means the number of shares in GA shown
                                     in the Schedule as due to be issued to
                                     The Shareholder on the First Anniversary
                                     of the Stock Purchase Agreement

    "Fourth Option Period"           Means the period of 5 days commencing
                                     with the Fourth Anniversary of the Stock
                                     Purchase Agreement or if later the issue
                                     by GA of the Fourth Option Shares

    "Fourth Option Shares"           Means the number of shares in GA shown
                                     in the Schedule as due to be issued to
                                     the Shareholder on the Fourth
                                     Anniversary of the Stock Purchase
                                     Agreement

    "HLM Stock                       Means the shares in HLM's Common Stock
                                     having $.001 par value and which may be
                                     issued to the Shareholder under the
                                     provisions of this agreement

    "Option Notice"                  Means a notice exercising an Option

    "Option Period/s"                Means any or all of the First Option
                                     Period, the Second Option Period, the
                                     Third Option Period or the Fourth Option
                                     Period

    "Option Shares"                  Means any or all of the First Option
                                     Shares, the Second Option Shares, the
                                     Third Option Shares and the Fourth
                                     Option Shares as the context may require

    "Option/s"                       Means one or more of the First Option
                                     Shares the Second Option Shares the
                                     Third Option Shares or the Fourth Option
                                     Shares as the context requires

    "Second Option Period"           Means the period of 5 days
                                     commencing with the Second
                                     Anniversary of the Stock Purchase
                                     Agreement or if later the issue by
                                     GA of the Second Option Shares

    "Second Option Shares"           Means the number of shares in GA
                                     shown in the Schedule as due to be
                                     issued to the Shareholder on the
                                     Second Anniversary of the Stock
                                     Purchase Agreement

                                       2

<PAGE>

    "Stock Purchase Agreement"       Means a Stock Purchase Agreement having
                                     even date herewith and made between
                                     inter alia the Shareholder, GA, HLM
                                     Architects Ltd and HLM.

    "Third Option Period"            Means the period of 5 days commencing
                                     with the Third Anniversary of the Stock
                                     Purchase Agreement or if later the issue
                                     by GA of the Third Option Shares

    "Third Option Shares"            Means the number of shares in GA shown
                                     in the Schedule as due to be issued to
                                     The Shareholder on the Third Anniversary
                                     of the Stock Purchase Agreement

    "Transfer Terms"                 Means that the Option Shares shall be
                                     transferred by the Shareholder with full
                                     title guarantee and free from any
                                     encumbrance and together with all rights
                                     attaching thereto as at the Exercise
                                     Date or at any time thereafter

1.1  Expressions in the singular shall include the plural and vice versa and in
     one gender shall include all genders.

1.2  References to any statute or statutory provisions shall be construed as
     references to such statute or statutory provision as respectively amended
     or re-enacted or as their operation is modified by and any other statute or
     statutory provision (whether before or after the date of this Agreement)
     and shall include any provisions of which they are re-enactments) (whether
     with or without modification) which shall include subordinate legislation
     made under the relevant statute.

1.3  References to recitals, clauses and schedules are references to recitals
     and clauses of and schedules to this Agreement.

1.4  The Schedule forms part of this Agreement.

2    Options

2.1  The Shareholder hereby grants to HLM the right to require him to transfer
     to HLM the Option Shares shown in column 1 of the Table below in exchange
     for the issue by HLM to The Shareholder of the number of shares in HLM
     shown opposite in column 2 of the Table such rights in respect of such
     shares to be exercised in the periods shown opposite in column 3 of the
     Table.

2.2  HLM hereby grants to the Shareholder the right to require HLM to take a
     transfer from him of

                                       3

<PAGE>

     the Option Shares shown in column 1 of the Table below in exchange for the
     issue by HLM to The Shareholder of the number of shares in HLM shown
     opposite in column 2 of the Table such rights in respect of such shares to
     be exercised in the periods shown opposite in column 3 of the Table.

<TABLE>
<CAPTION>
         Column 1                     Column 2                     Column 3
No. of Shares in GA to be    No. of Shares to be issued    Period during with action
       transferred                    by HLM                    to be exercised
-------------------------    --------------------------    -------------------------
<S>                                     <C>                <C>
The First Option Shares                 9,869              The First Option Period

The Second Option Shares                9,869              The Second Option Period

The Third Option Shares                 9,869              The Third Option Period

The Fourth Option Shares                9,867              The Fourth Option Period
</TABLE>

2.3  The service by either party on the other of a notice exercising any of its
     Options hereunder shall automatically terminate and extinguish the right of
     the other party to exercise his Option in respect of the same parcel of
     shares.

3    Adjustments necessary to Option Shares

If any right of set off to which GA is entitled under the Stock Purchase
Agreement is exercised by GA against the Option Shares or any of them or for any
other reason the number of shares being issued by GA shall be less than the
number shown in the Schedule below then the rights granted by clauses 2.1 and
2.2 of this agreement shall operate on such reduced number of shares and the
number of HLM Shares to be issued in exchange by HLM shall be reduced
proportionately

4    Completion

4.1  The Options shall be completed on their respective Completion Dates.

4.2  On the relevant Completion Date the Shareholder shall hand to HLM his share
     certificate(s) together with a duly executed transfer of the relevant
     Option Shares and HLM shall hand the Shareholder the share certificate in
     his name for the relevant number of shares in HLM to which he is then
     entitled.

5    Ownership and Title to GA Shares

5.1  The Shareholder shall transfer the Option Shares on the Transfer Terms.

5.2  In relation to the Option Shares the Shareholder undertakes not to:

     5.2.1 dispose of any legal or beneficial interest in them nor grant any
          option over them

                                       4

<PAGE>

     5.2.2 create or allow to be created any encumbrance over them.

6    Securities Laws Matters

6.1  The Shareholder acknowledges that the securities of HLM issuable in the
     future to the Shareholder upon any conversion of or exchange for the Option
     Shares (the said securities together with the options and/or warrants to
     purchase Securities of HLM issued to the Seller in connection with the
     closing of the Stock Purchase Agreement and the Securities of HLM
     underlying such options and/or warrants being collectively referred to as
     the "Securities") have not been, and will not be, registered under the
     United States Securities Act of 1933, as amended (the "Securities Act"), or
     under any other applicable securities laws, and may not be offered or sold,
     and in the case of options and warrants, exercised, in the United States,
     its territories and possessions or offered and sold to, and in the case of
     options and warrants, exercised by or on behalf of, "US Persons", as
     defined in Rule 902(k) of Regulation S (Rule 901 through Rule 905, and
     Preliminary Notes) promulgated by the U.S. Securities and Exchange
     Commission under the Securities Act ("Regulation S"), unless such sale or
     exercise, as the case may be, is in accordance with the provisions of
     Regulation S or unless the Securities are registered under the Securities
     Act and any other such other applicable securities laws, or an exemption
     from the registration requirements of the Securities Act and any such other
     applicable securities laws is available. Further, such Securities shall be
     subject to other agreements including but not limited to the Stockholders
     Agreement referred to in clause 1 hereof, restricting their transferability
     and setting forth certain other restrictions.

6.2  The Shareholder certifies, represents and warrants that the Shareholder

     6.2.1 Is not a US Person because he is not a citizen of the United States
          and his residence and principal place of work is located in the United
          Kingdom,

     6.2.2 Is not acquiring the Securities for the account or benefit of any US
          Person,

     6.2.3 Was outside of the United States when the offer of the Securities was
          made to him and

     6.2.4 is outside of the United States at the time of entering into this
          Agreement.

6.3  The Shareholder represents and warrants that:-

     6.3.1 He is well versed in financial matters and has such knowledge and
           experience in financial and business matters and that he is fully
           capable of understanding the merits and risks of the investment being
           made in the Securities and the risks involved in connection therewith
           ; and

                                       5

<PAGE>

     6.3.2 He is acting herein for his own account and is acquiring these
           Securities for investment without a view to the resale or other
           distribution thereof. The Shareholder is financially able to hold the
           Securities for long term investment, believes that the nature and
           amount of the Securities to be acquired hereunder is consistent with
           his overall investment programme and financial position, and
           recognises that there are substantial risks involved in an investment
           in the Securities; and

     6.3.3 He has received and reviewed the prospectus dated June 12, 1998
           relating to the initial public offering of the Common Stock of HLM,
           its annual report on Form 10-K for the fiscal years ended April 28,
           2000 and April 27, 2001.

6.4  The Shareholder acknowledges and agrees that

     6.4.1 he shall only offer and resell, or in the case of options or
           warrants, exercise, the Securities pursuant to registration under the
           Securities Act and under any other applicable securities laws, or in
           accordance with the provisions of Regulation S and/or pursuant to an
           available exemption from such registration requirements, as
           established through the delivery of evidence satisfactory to HLM,
           including, if requested, the delivery of an opinion of counsel (such
           opinion and counsel each being satisfactory to HLM), to the effect
           that such registration is not required,

     6.4.2 he shall not engage in hedging transactions with regard to the
           Securities unless in compliance with the Securities Act and

     6.4.3 a legend substantially similar to the following will be placed on the
           certificates representing the Securities:

          THE TRANSFER OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE IS
          PROHIBITED EXCEPT PURSUANT TO REGISTRATION UNDER THE UNITED STATES
          SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT") AND UNDER
          ANY OTHER APPLICABLE SECURITIES LAWS, OR UPON THE DELIVERY OF EVIDENCE
          SATISFACTORY TO THE ISSUER HEREOF, INCLUDING, IF REQUESTED, THE
          DELIVERY OF AN OPINION OF COUNSEL SUCH OPINION AND COUNSEL EACH BEING
          SATISFACTORY TO THE ISSUER HEREOF, TO THE EFFECT THAT SUCH
          REGISTRATION IS NOT REQUIRED BECAUSE SUCH TRANFER IS PURSUANT TO
          AVAILABLE EXEMPTION FROM SUCH REGISTRATION REQUIREMENTS AND/OR SUCH
          TRANSFER IN ACCORDANCE WITH THE PROVISIONS OF REGULATION S

                                       6

<PAGE>

          PROMULGATED UNDER THE SECURITIES ACT.

          HEDGING TRANSACTIONS INVOLVING THE SECURITIES REPRESENTED BY THIS
          CERTIFICATE MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH THE
          SECURITIES ACT.

6.5  The Parties hereby acknowledge and agree that HLM will refuse to register,
     any transfer, and in the case of options and warrants, to allow the
     exercise of, and shall cause the transfer agent for the HLM Common Stock to
     refuse to register any transfer, or in the case of options and warrants, to
     allow the exercise of, the Securities not made in accordance with the
     provisions of Regulation S, pursuant to registration under the Securities
     Act, or pursuant to an available exemption from such registration.

7    Other Requirements

Prior to delivery of the first instalment of HLM Stock the Shareholder shall be
required to execute

7.1  The then current form of HLM Stockholders' Agreement, which shall be
     substantially in the form attached hereto as Exhibit 1 which Stockholders'
     Agreement shall be applicable to all of the Shareholder's HLM Stock; and

7.2  a Registration Rights Agreement, which shall be substantially in the form
     attached hereto as Exhibit 2.

8    Reservation of Shares

HLM shall reserve on its books sufficient shares of the HLM Stock required to
satisfy all the Stock to be issued by HLM under this Option Agreement.

9    Further Assurance

HLM and the Shareholder will enter into and execute such documentation and deeds
as may be necessary to give full force and effect to the Options.

10   Notices

Any notice or direction required or permitted to be given under this Agreement
shall be in writing and shall be sent to the Shareholder's usual residential
address or to such other address in England as he may designate by notice to the
other parties in accordance with this Clause 10 and in the case of the Vendor be
sent to its registered office from time to time. Any such notice or direction
shall be delivered personally or sent in a pre-paid letter by the [recorded
delivery] service and shall be deemed to have been served if by delivery when
delivered and if by [recorded delivery] 48 hours after posting.

                                       7

<PAGE>

11   General

11.1 This Agreement may not be assigned in whole or in part. It is binding upon
     the Shareholder his personal representatives and other successors.

11.2 The clause headings in this Agreement are inserted for convenience only and
     are not intended to affect the meaning or interpretation of this Agreement.

11.3 This Agreement shall be governed by, construed and interpreted in
     accordance with English law and the parties submit to the jurisdiction of
     the English Court. If any provision of this Agreement shall be held to be
     invalid, illegal or unenforceable, the validity, legality and
     enforceability of the remaining provisions shall not be in any way affected
     or impaired thereby.

11.4 The parties agree that this Agreement constitutes the complete and
     exclusive statement of the Agreement between them, and supersedes all
     agreements, understandings, proposals, oral or written, and all other
     communications between them relating to the subject matter of this
     Agreement, provided that nothing in this Agreement shall be construed as
     excluding liability for fraudulent misrepresentation.

                                 SCHEDULE
<TABLE>
<CAPTION>

                    Intended Date of Issue                        No. of Shares in GA
     --------------------------------------------------    --------------------------------
     <S>                                                   <C>
     First Anniversary of the Stock Purchase Agreement     450 ("the First Option Shares")

     Second Anniversary of the Stock Purchase Agreement    450 ("the Second Option Shares")

     Third Anniversary of the Stock Purchase Agreement     450 ("the Third Option Shares")

     Fourth Anniversary of the Stock Purchase Agreement    450 ("the Fourth Option Shares")
</TABLE>

IN WITNESS whereof the parties have entered into this Agreement the day and year
first before written

                                       8

<PAGE>

EXECUTED and DELIVERED as a DEED by                          /s/ John Ferguson
JOHN RUSSELL FERGUSON
in the presence of:

Witness's Signature:

Witness's Name:                 /s/ John Peacock

Witness's Address:                  94 High Street
                                    Wimbledon
                                    London SW19

                                                       Signed as a deed by
                                                       HLM DESIGNS, INC.

ATTEST

                                                       By:  /s/ Joseph Harris
                                                                President

       /s/ Beverly Bertram Timm
           Secretary

                                       9

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