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                          REGISTRATION RIGHTS AGREEMENT

            This Registration Rights Agreement (this "Agreement") is made and
entered into as of January 30, 2007, among Drinks Americas Holdings, Ltd., a
Delaware corporation (the "Company"), and the several purchasers signatory
hereto (each such purchaser, a "Purchaser" and collectively, the "Purchasers").

            This Agreement is made pursuant to the Securities Purchase
Agreement, dated as of the date hereof, between the Company and each Purchaser
(the "Purchase Agreement").

            The Company and each Purchaser hereby agrees as follows:

      1. Definitions. Capitalized terms used and not otherwise defined herein
that are defined in the Purchase Agreement shall have the meanings given such
terms in the Purchase Agreement. As used in this Agreement, the following terms
shall have the following meanings:

            "Advice" shall have the meaning set forth in Section 6(d).

            "Effectiveness Date" means, with respect to the initial Registration
      Statement required to be filed hereunder, the 90th calendar day following
      the date hereof (or the 120th calendar day following the date hereof in
      the case of a "full review" by the Commission) and, with respect to any
      additional Registration Statements which may be required pursuant to
      Section 3(c), the 90th calendar day following the date on which the
      Company first knows, or reasonably should have known, that such additional
      Registration Statement is required hereunder; provided, however, that in
      the event the Company is notified by the Commission that one of the above
      Registration Statements will not be reviewed or is no longer subject to
      further review and comments, the Effectiveness Date as to such
      Registration Statement shall be the fifth Trading Day following the date
      on which the Company is so notified if such date precedes the dates
      required above.

            "Effectiveness Period" shall have the meaning set forth in Section
      2(a).

            "Event" shall have the meaning set forth in Section 2(b).

            "Event Date" shall have the meaning set forth in Section 2(b).

            "Filing Date" means, with respect to the initial Registration
      Statement required hereunder, the 45th calendar day following the date
      hereof and, with respect to any additional Registration Statements which
      may be required pursuant to Section 3(c), the 45th calendar day following
      the date on which the Company first knows, or reasonably should have known
      that such additional Registration Statement is required hereunder.

            "Holder" or "Holders" means the holder or holders, as the case may
      be, from time to time of Registrable Securities.

            "Indemnified Party" shall have the meaning set forth in Section
      5(c).

            "Indemnifying Party" shall have the meaning set forth in Section
      5(c).

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            "Losses" shall have the meaning set forth in Section 5(a).

            "Plan of Distribution" shall have the meaning set forth in Section
      2(a).

             "Prospectus" means the prospectus included in a Registration
      Statement (including, without limitation, a prospectus that includes any
      information previously omitted from a prospectus filed as part of an
      effective registration statement in reliance upon Rule 430A promulgated
      under the Securities Act), as amended or supplemented by any prospectus
      supplement, with respect to the terms of the offering of any portion of
      the Registrable Securities covered by a Registration Statement, and all
      other amendments and supplements to the Prospectus, including
      post-effective amendments, and all material incorporated by reference or
      deemed to be incorporated by reference in such Prospectus.

            "Registrable Securities" means all of (i) the Shares, (ii) the
      Warrant Shares, (iii) the Placement Agent Shares, (iv) any additional
      shares issuable in connection with any anti-dilution provisions in the
      Warrants (without giving effect to any limitations on exercise set forth
      in the Warrant) and (v) any shares of Common Stock issued or issuable upon
      any stock split, dividend or other distribution, recapitalization or
      similar event with respect to the foregoing.

            "Registration Statement" means the registration statements required
      to be filed hereunder and any additional registration statements
      contemplated by Section 3(c), including (in each case) the Prospectus,
      amendments and supplements to such registration statement or Prospectus,
      including pre- and post-effective amendments, all exhibits thereto, and
      all material incorporated by reference or deemed to be incorporated by
      reference in such registration statement.

            "Rule 415" means Rule 415 promulgated by the Commission pursuant to
      the Securities Act, as such Rule may be amended from time to time, or any
      similar rule or regulation hereafter adopted by the Commission having
      substantially the same purpose and effect as such Rule.

            "Rule 424" means Rule 424 promulgated by the Commission pursuant to
      the Securities Act, as such Rule may be amended from time to time, or any
      similar rule or regulation hereafter adopted by the Commission having
      substantially the same purpose and effect as such Rule.

            "Selling Shareholder Questionnaire" shall have the meaning set forth
      in Section 3(a).

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      2. Shelf Registration.

            (a) On or prior to each Filing Date, the Company shall prepare and
      file with the Commission a "Shelf" Registration Statement covering the
      resale of 130% of the Registrable Securities on such Filing Date for an
      offering to be made on a continuous basis pursuant to Rule 415. The
      Registration Statement shall be on Form SB-2 (except if the Company is not
      then eligible to register for resale the Registrable Securities on Form
      SB-2, in which case such registration shall be on another appropriate form
      in accordance herewith) and shall contain (unless otherwise directed by at
      least an 85% majority in interest of the Holders) substantially the "Plan
      of Distribution" attached hereto as Annex A. Subject to the terms of this
      Agreement, the Company shall use its best efforts to cause a Registration
      Statement to be declared effective under the Securities Act as promptly as
      possible after the filing thereof, but in any event prior to the
      applicable Effectiveness Date, and shall use its best efforts to keep such
      Registration Statement continuously effective under the Securities Act
      until all Registrable Securities covered by such Registration Statement
      have been sold, or may be sold without volume restrictions pursuant to
      Rule 144(k), as determined by the counsel to the Company pursuant to a
      written opinion letter to such effect, addressed and acceptable to the
      Company's transfer agent and the affected Holders (the "Effectiveness
      Period"). The Company shall telephonically request effectiveness of a
      Registration Statement as of 5:00 p.m. New York City time on a Trading
      Day. The Company shall immediately notify the Holders via facsimile or
      electronic mail of the effectiveness of a Registration Statement on the
      same Trading Day that the Company telephonically confirms effectiveness
      with the Commission, which shall be the date requested for effectiveness
      of a Registration Statement. The Company shall, by 9:30 a.m. New York City
      time on the Trading Day after the Effective Date (as defined in the
      Purchase Agreement), file a final Prospectus with the Commission as
      required by Rule 424. Failure to so notify the Holder within 1 Trading Day
      of such notification or effectiveness or failure to file a final
      Prospectus as aforesaid shall be deemed an Event under Section 2(b).

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            (b) If: (i) a Registration Statement is not filed on or prior to its
      Filing Date (if the Company files a Registration Statement without
      affording the Holders the opportunity to review and comment on the same as
      required by Section 3(a) herein, the Company shall not be deemed to have
      satisfied this clause (i)), or (ii) the Company fails to file with the
      Commission a request for acceleration in accordance with Rule 461
      promulgated under the Securities Act, within five Trading Days of the date
      that the Company is notified (orally or in writing, whichever is earlier)
      by the Commission that a Registration Statement will not be "reviewed," or
      not subject to further review, or (iii) prior to its Effectiveness Date,
      the Company fails to file a pre-effective amendment and otherwise respond
      in writing to comments made by the Commission in respect of such
      Registration Statement within 10 calendar days after the receipt of
      comments by or notice from the Commission that such amendment is required
      in order for a Registration Statement to be declared effective, or (iv) a
      Registration Statement filed or required to be filed hereunder is not
      declared effective by the Commission by its Effectiveness Date, or (v)
      after the Effectiveness Date, a Registration Statement ceases for any
      reason to remain continuously effective as to all Registrable Securities
      for which it is required to be effective, or the Holders are otherwise not
      permitted to utilize the Prospectus therein to resell such Registrable
      Securities, for more than 15 consecutive calendar days or more than an
      aggregate of 25 calendar days during any 12-month period (which need not
      be consecutive calendar days) (any such failure or breach being referred
      to as an "Event", and for purposes of clause (i) or (iv) the date on which
      such Event occurs, or for purposes of clause (ii) the date on which such
      five Trading Day period is exceeded, or for purposes of clause (iii) the
      date which such 10 calendar day period is exceeded, or for purposes of
      clause (v) the date on which such 15 or 25 calendar day period, as
      applicable, is exceeded being referred to as "Event Date"), then, in
      addition to any other rights the Holders may have hereunder or under
      applicable law, on each such Event Date and on each monthly anniversary of
      each such Event Date (if the applicable Event shall not have been cured by
      such date) until the applicable Event is cured, the Company shall pay to
      each Holder an amount in cash, as partial liquidated damages and not as a
      penalty, equal to 1% of the aggregate purchase price paid by such Holder
      pursuant to the Purchase Agreement for any Registrable Securities then
      held by such Holder (calculated as if all convertible securities had been
      fully converted.) The parties agree that (1) the Company shall not be
      liable for liquidated damages under this Agreement with respect to any
      Warrants or Warrant Shares, (2) in no event shall the Company be liable
      for liquidated damages under this Agreement in excess of 1% of the
      aggregate Subscription Amount of the Holders in any 30-day period and (3)
      the maximum aggregate liquidated damages payable to a Holder under this
      Agreement shall be twenty percent (20%) of the aggregate Subscription
      Amount paid by such Holder pursuant to the Purchase Agreement. If the
      Company fails to pay any partial liquidated damages pursuant to this
      Section in full within seven days after the date payable, the Company will
      pay interest thereon at a rate of 18% per annum (or such lesser maximum
      amount that is permitted to be paid by applicable law) to the Holder,
      accruing daily from the date such partial liquidated damages are due until
      such amounts, plus all such interest thereon, are paid in full. The
      partial liquidated damages pursuant to the terms hereof shall apply on a
      daily pro-rata basis for any portion of a month prior to the cure of an
      Event.

      3.    Registration Procedures

            In connection with the Company's registration obligations hereunder,
the Company shall:

            (a) Not less than five Trading Days prior to the filing of each
      Registration Statement and not less than 1 Trading Day prior to the filing
      of any related Prospectus or any amendment or supplement thereto
      (including any document that would be incorporated or deemed to be
      incorporated therein by reference), the Company shall, (i) furnish to each
      Holder copies of all such documents proposed to be filed, which documents
      (other than those incorporated or deemed to be incorporated by reference)
      will be subject to the review of such Holders, and (ii) cause its officers
      and directors, counsel and independent certified public accountants to
      respond to such inquiries as shall be necessary, in the reasonable opinion
      of respective counsel to each Holder, to conduct a reasonable
      investigation within the meaning of the Securities Act. The Company shall
      not file a Registration Statement or any such Prospectus or any amendments
      or supplements thereto to which the Holders of a majority of the
      Registrable Securities shall reasonably object in good faith, provided
      that the Company is notified of such objection in writing no later than 5
      Trading Days after the Holders have been so furnished copies of a
      Registration Statement or 1 Trading Day after the Holders have been so
      furnished copies of any related Prospectus or amendments or supplements
      thereto. Each Holder agrees to furnish to the Company a completed
      questionnaire in the form attached to this Agreement as Annex B (a
      "Selling Shareholder Questionnaire") not less than two Trading Days prior
      to the Filing Date or by the end of the fourth Trading Day following the
      date on which such Holder receives draft materials in accordance with this
      Section.

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            (b) (i) Prepare and file with the Commission such amendments,
      including post-effective amendments, to a Registration Statement and the
      Prospectus used in connection therewith as may be necessary to keep a
      Registration Statement continuously effective as to the applicable
      Registrable Securities for the Effectiveness Period, subject to allowable
      "blackout" periods set forth in Section 2(b)(iv) herein, and prepare and
      file with the Commission such additional Registration Statements in order
      to register for resale under the Securities Act all of the Registrable
      Securities; (ii) cause the related Prospectus to be amended or
      supplemented by any required Prospectus supplement (subject to the terms
      of this Agreement), and as so supplemented or amended to be filed pursuant
      to Rule 424; (iii) respond as promptly as reasonably possible to any
      comments received from the Commission with respect to a Registration
      Statement or any amendment thereto and provide as promptly as reasonably
      possible to the Holders true and complete copies of all correspondence
      from and to the Commission relating to a Registration Statement (provided
      that the Company may excise any information contained therein which would
      constitute material non-public information as to any Holder which has not
      executed a confidentiality agreement with the Company); and (iv) comply in
      all material respects with the provisions of the Securities Act and the
      Exchange Act with respect to the disposition of all Registrable Securities
      covered by a Registration Statement during the applicable period in
      accordance (subject to the terms of this Agreement) with the intended
      methods of disposition by the Holders thereof set forth in such
      Registration Statement as so amended or in such Prospectus as so
      supplemented.

            (c) If during the Effectiveness Period, the number of Registrable
      Securities at any time exceeds 90% of the number of shares of Common Stock
      then registered in a Registration Statement, then the Company shall file,
      as soon as reasonably practicable but in any case prior to the applicable
      Filing Date, an additional Registration Statement covering the resale by
      the Holders of not less than 130% of the number of such Registrable
      Securities.

            (d) Notify the Holders of Registrable Securities to be sold (which
      notice shall, pursuant to clauses (iii) through (vi) hereof, be
      accompanied by an instruction to suspend the use of the Prospectus until
      the requisite changes have been made) as promptly as reasonably possible
      (and, in the case of (i)(A) below, not less than 1 Trading Day prior to
      such filing) and (if requested by any such Person) confirm such notice in
      writing no later than two Trading Days following the day (i)(A) when a
      Prospectus or any Prospectus supplement or post-effective amendment to a
      Registration Statement is proposed to be filed; (B) when the Commission
      notifies the Company whether there will be a "review" of such Registration
      Statement and whenever the Commission comments in writing on such
      Registration Statement; and (C) with respect to a Registration Statement
      or any post-effective amendment, when the same has become effective; (ii)
      of any request by the Commission or any other federal or state
      governmental authority for amendments or supplements to a Registration
      Statement or Prospectus or for additional information; (iii) of the
      issuance by the Commission or any other federal or state governmental
      authority of any stop order suspending the effectiveness of a Registration
      Statement covering any or all of the Registrable Securities or the
      initiation of any Proceedings for that purpose; (iv) of the receipt by the
      Company of any notification with respect to the suspension of the
      qualification or exemption from qualification of any of the Registrable
      Securities for sale in any jurisdiction, or the initiation or threatening
      of any Proceeding for such purpose; (v) of the occurrence of any event or
      passage of time that makes the financial statements included in a
      Registration Statement ineligible for inclusion therein or any statement
      made in a Registration Statement or Prospectus or any document
      incorporated or deemed to be incorporated therein by reference untrue in
      any material respect or that requires any revisions to a Registration
      Statement, Prospectus or other documents so that, in the case of a
      Registration Statement or the Prospectus, as the case may be, it will not
      contain any untrue statement of a material fact or omit to state any
      material fact required to be stated therein or necessary to make the
      statements therein, in light of the circumstances under which they were
      made, not misleading; and (vi) the occurrence or existence of any pending
      corporate development with respect to the Company that the Company
      believes may be material and that, in the determination of the Company,
      makes it not in the best interest of the Company to allow continued
      availability of a Registration Statement or Prospectus, provided that any
      and all of such information shall remain confidential to each Holder until
      such information otherwise becomes public, unless disclosure by a Holder
      is required by law; provided, further, that notwithstanding each Holder's
      agreement to keep such information confidential, the Holders make no
      acknowledgement that any such information is material, non-public
      information.

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            (e) Use its best efforts to avoid the issuance of, or, if issued,
      obtain the withdrawal of (i) any order suspending the effectiveness of a
      Registration Statement, or (ii) any suspension of the qualification (or
      exemption from qualification) of any of the Registrable Securities for
      sale in any jurisdiction, at the earliest practicable moment.

            (f) Furnish to each Holder, without charge, at least one conformed
      copy of each such Registration Statement and each amendment thereto,
      including financial statements and schedules, all documents incorporated
      or deemed to be incorporated therein by reference to the extent requested
      by such Person, and all exhibits to the extent requested by such Person
      (including those previously furnished or incorporated by reference)
      promptly after the filing of such documents with the Commission.

            (g) Subject to the terms of this Agreement, the Company hereby
      consents to the use of such Prospectus and each amendment or supplement
      thereto by each of the selling Holders in connection with the offering and
      sale of the Registrable Securities covered by such Prospectus and any
      amendment or supplement thereto, except after the giving of any notice
      pursuant to Section 3(d).

            (h) If NASDR Rule 2710 requires any broker-dealer to make a filing
      prior to executing a sale by a Holder, the Company shall (i) make an
      Issuer Filing with the NASDR, Inc. Corporate Financing Department pursuant
      to proposed NASDR Rule 2710(b)(10)(A)(i), (ii) respond within five Trading
      Days to any comments received from NASDR in connection therewith, and
      (iii) pay the filing fee required in connection therewith.

            (i) Prior to any resale of Registrable Securities by a Holder, use
      its commercially reasonable efforts to register or qualify or cooperate
      with the selling Holders in connection with the registration or
      qualification (or exemption from the Registration or qualification) of
      such Registrable Securities for the resale by the Holder under the
      securities or Blue Sky laws of such jurisdictions within the United States
      as any Holder reasonably requests in writing, to keep each registration or
      qualification (or exemption therefrom) effective during the Effectiveness
      Period and to do any and all other acts or things reasonably necessary to
      enable the disposition in such jurisdictions of the Registrable Securities
      covered by each Registration Statement; provided, that the Company shall
      not be required to qualify generally to do business in any jurisdiction
      where it is not then so qualified, subject the Company to any material tax
      in any such jurisdiction where it is not then so subject or file a general
      consent to service of process in any such jurisdiction.

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            (j) If requested by the Holders, cooperate with the Holders to
      facilitate the timely preparation and delivery of certificates
      representing Registrable Securities to be delivered to a transferee
      pursuant to a Registration Statement, which certificates shall be free, to
      the extent permitted by the Purchase Agreement, of all restrictive
      legends, and to enable such Registrable Securities to be in such
      denominations and registered in such names as any such Holders may
      request.

            (k) Upon the occurrence of any event contemplated by this Section 3,
      as promptly as reasonably possible under the circumstances taking into
      account the Company's good faith assessment of any adverse consequences to
      the Company and its stockholders of the premature disclosure of such
      event, prepare a supplement or amendment, including a post-effective
      amendment, to a Registration Statement or a supplement to the related
      Prospectus or any document incorporated or deemed to be incorporated
      therein by reference, and file any other required document so that, as
      thereafter delivered, neither a Registration Statement nor such Prospectus
      will 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, in light of the circumstances under which they were
      made, not misleading. If the Company notifies the Holders in accordance
      with clauses (iii) through (vi) of Section 3(d) above to suspend the use
      of any Prospectus until the requisite changes to such Prospectus have been
      made, then the Holders shall suspend use of such Prospectus. The Company
      will use its best efforts to ensure that the use of the Prospectus may be
      resumed as promptly as is practicable. The Company shall be entitled to
      exercise its right under this Section 3(k) to suspend the availability of
      a Registration Statement and Prospectus, subject to the payment of partial
      liquidated damages pursuant to Section 2(b), for a period not to exceed 60
      calendar days (which need not be consecutive days) in any 12 month period.

            (l) Comply with all applicable rules and regulations of the
      Commission.

            (m) The Company may require each selling Holder to furnish to the
      Company a certified statement as to the number of shares of Common Stock
      beneficially owned by such Holder and, if required by the Commission, the
      natural persons thereof that have voting and dispositive control over the
      Shares. During any periods that the Company is unable to meet its
      obligations hereunder with respect to the registration of the Registrable
      Securities solely because any Holder fails to furnish such information
      within three Trading Days of the Company's request, any liquidated damages
      that are accruing at such time as to such Holder only shall be tolled and
      any Event that may otherwise occur solely because of such delay shall be
      suspended as to such Holder only, until such information is delivered to
      the Company.

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      4. Registration Expenses. All fees and expenses incident to the
performance of or compliance with this Agreement by the Company shall be borne
by the Company whether or not any Registrable Securities are sold pursuant to a
Registration Statement. The fees and expenses referred to in the foregoing
sentence shall include, without limitation, (i) all registration and filing fees
(including, without limitation, fees and expenses) (A) with respect to filings
required to be made with any Trading Market on which the Common Stock is then
listed for trading, (B) in compliance with applicable state securities or Blue
Sky laws reasonably agreed to by the Company in writing (including, without
limitation, fees and disbursements of counsel for the Company in connection with
Blue Sky qualifications or exemptions of the Registrable Securities) and (C) if
not previously paid by the Company in connection with an Issuer Filing, with
respect to any filing that may be required to be made by any broker through
which a Holder intends to make sales of Registrable Securities with NASD
Regulation, Inc. pursuant to the NASD Rule 2710, so long as the broker is
receiving no more than a customary brokerage commission in connection with such
sale, (ii) printing expenses (including, without limitation, expenses of
printing certificates for Registrable Securities, (iii) messenger, telephone and
delivery expenses, (iv) fees and disbursements of counsel for the Company, (v)
Securities Act liability insurance, if the Company so desires such insurance,
and (vi) fees and expenses of all other Persons retained by the Company in
connection with the consummation of the transactions contemplated by this
Agreement. In addition, the Company shall be responsible for all of its internal
expenses incurred in connection with the consummation of the transactions
contemplated by this Agreement (including, without limitation, all salaries and
expenses of its officers and employees performing legal or accounting duties),
the expense of any annual audit and the fees and expenses incurred in connection
with the listing of the Registrable Securities on any securities exchange as
required hereunder. In no event shall the Company be responsible for any broker
or similar commissions of any Holder or, except to the extent provided for in
the Transaction Documents, any legal fees or other costs of the Holders.

      5. Indemnification.

            (a) Indemnification by the Company. The Company shall,
      notwithstanding any termination of this Agreement, indemnify and hold
      harmless each Holder, the officers, directors, members, partners, agents,
      brokers (including brokers who offer and sell Registrable Securities as
      principal as a result of a pledge or any failure to perform under a margin
      call of Common Stock), investment advisors and employees (and any other
      Persons with a functionally equivalent role of a Person holding such
      titles, notwithstanding a lack of such title or any other title) of each
      of them, each Person who controls any such Holder (within the meaning of
      Section 15 of the Securities Act or Section 20 of the Exchange Act) and
      the officers, directors, members, shareholders, partners, agents and
      employees (and any other Persons with a functionally equivalent role of a
      Person holding such titles, notwithstanding a lack of such title or any
      other title)of each such controlling Person, to the fullest extent
      permitted by applicable law, from and against any and all losses, claims,
      damages, liabilities, costs (including, without limitation, reasonable
      attorneys' fees) and expenses (collectively, "Losses"), as incurred,
      arising out of or relating to (1) any untrue or alleged untrue statement
      of a material fact contained in a Registration Statement, any Prospectus
      or any form of prospectus or in any amendment or supplement thereto or in
      any preliminary prospectus, or arising out of or relating to any omission
      or alleged omission of a material fact required to be stated therein or
      necessary to make the statements therein (in the case of any Prospectus or
      form of prospectus or supplement thereto, in light of the circumstances
      under which they were made) not misleading, or (2) any violation or
      alleged violation by the Company of the Securities Act, Exchange Act or
      any state securities law, or any rule or regulation thereunder, in
      connection with the performance of its obligations under this Agreement,
      except to the extent, but only to the extent, that (i) such untrue
      statements or omissions are based solely upon information regarding such
      Holder furnished in writing to the Company by such Holder expressly for
      use therein, or to the extent that such information relates to such Holder
      or such Holder's proposed method of distribution of Registrable Securities
      and was reviewed and expressly approved in writing by such Holder
      expressly for use in a Registration Statement, such Prospectus or such
      form of Prospectus or in any amendment or supplement thereto (it being
      understood that the Holder has approved Annex A hereto for this purpose)
      or (ii) in the case of an occurrence of an event of the type specified in
      Section 3(d)(iii)-(vi), the use by such Holder of an outdated or defective
      Prospectus after the Company has notified such Holder in writing that the
      Prospectus is outdated or defective and prior to the receipt by such
      Holder of the Advice contemplated in Section 6(d). The Company shall
      notify the Holders promptly of the institution, threat or assertion of any
      Proceeding arising from or in connection with the transactions
      contemplated by this Agreement of which the Company is aware.

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            (b) Indemnification by Holders. Each Holder shall, severally and not
      jointly, indemnify and hold harmless the Company, its directors, officers,
      agents and employees, each Person who controls the Company (within the
      meaning of Section 15 of the Securities Act and Section 20 of the Exchange
      Act), and the directors, officers, agents or employees of such controlling
      Persons, to the fullest extent permitted by applicable law, from and
      against all Losses, as incurred, to the extent arising out of or based
      solely upon: (x) such Holder's failure to comply with the prospectus
      delivery requirements of the Securities Act or (y) any untrue or alleged
      untrue statement of a material fact contained in any Registration
      Statement, any Prospectus, or any form of prospectus, or in any amendment
      or supplement thereto or in any preliminary prospectus, or arising out of
      or relating to any omission or alleged omission of a material fact
      required to be stated therein or necessary to make the statements therein
      not misleading (i) to the extent, but only to the extent, that such untrue
      statement or omission is contained in any information so furnished in
      writing by such Holder to the Company specifically for inclusion in such
      Registration Statement or such Prospectus or (ii) to the extent that such
      information relates to such Holder's proposed method of distribution of
      Registrable Securities and was reviewed and expressly approved in writing
      by such Holder expressly for use in a Registration Statement (it being
      understood that the Holder has approved Annex A hereto for this purpose),
      such Prospectus or such form of Prospectus or in any amendment or
      supplement thereto or (iii) in the case of an occurrence of an event of
      the type specified in Section 3(d)(iii)-(vi), the use by such Holder of an
      outdated or defective Prospectus after the Company has notified such
      Holder in writing that the Prospectus is outdated or defective and prior
      to the receipt by such Holder of the Advice contemplated in Section 6(d).
      In no event shall the liability of any selling Holder hereunder be greater
      in amount than the dollar amount of the net proceeds received by such
      Holder upon the sale of the Registrable Securities giving rise to such
      indemnification obligation.

            (c) Conduct of Indemnification Proceedings. If any Proceeding shall
      be brought or asserted against any Person entitled to indemnity hereunder
      (an "Indemnified Party"), such Indemnified Party shall promptly notify the
      Person from whom indemnity is sought (the "Indemnifying Party") in
      writing, and the Indemnifying Party shall have the right to assume the
      defense thereof, including the employment of counsel reasonably
      satisfactory to the Indemnified Party and the payment of all fees and
      expenses incurred in connection with defense thereof; provided, that the
      failure of any Indemnified Party to give such notice shall not relieve the
      Indemnifying Party of its obligations or liabilities pursuant to this
      Agreement, except (and only) to the extent that it shall be finally
      determined by a court of competent jurisdiction (which determination is
      not subject to appeal or further review) that such failure shall have
      prejudiced the Indemnifying Party.

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            An Indemnified Party shall have the right to employ separate counsel
      in any such Proceeding and to participate in the defense thereof, but the
      fees and expenses of such counsel shall be at the expense of such
      Indemnified Party or Parties unless: (1) the Indemnifying Party has agreed
      in writing to pay such fees and expenses; (2) the Indemnifying Party shall
      have failed promptly to assume the defense of such Proceeding and to
      employ counsel reasonably satisfactory to such Indemnified Party in any
      such Proceeding; or (3) the named parties to any such Proceeding
      (including any impleaded parties) include both such Indemnified Party and
      the Indemnifying Party, and counsel to the Indemnified Party shall
      reasonably believe that a material conflict of interest is likely to exist
      if the same counsel were to represent such Indemnified Party and the
      Indemnifying Party (in which case, if such Indemnified Party notifies the
      Indemnifying Party in writing that it elects to employ separate counsel at
      the expense of the Indemnifying Party, the Indemnifying Party shall not
      have the right to assume the defense thereof and the reasonable fees and
      expenses of no more than one separate counsel shall be at the expense of
      the Indemnifying Party). The Indemnifying Party shall not be liable for
      any settlement of any such Proceeding effected without its written
      consent, which consent shall not be unreasonably withheld or delayed. No
      Indemnifying Party shall, without the prior written consent of the
      Indemnified Party, effect any settlement of any pending Proceeding in
      respect of which any Indemnified Party is a party, unless such settlement
      includes an unconditional release of such Indemnified Party from all
      liability on claims that are the subject matter of such Proceeding.

            Subject to the terms of this Agreement, all reasonable fees and
      expenses of the Indemnified Party (including reasonable fees and expenses
      to the extent incurred in connection with investigating or preparing to
      defend such Proceeding in a manner not inconsistent with this Section)
      shall be paid to the Indemnified Party, as incurred, within ten Trading
      Days of written notice thereof to the Indemnifying Party, provided that
      the Indemnified Party shall promptly reimburse the Indemnifying Party for
      that portion of such fees and expenses applicable to such actions for
      which such Indemnified Party is judicially determined to be not entitled
      to indemnification hereunder.

                                       10
<PAGE>

            (d) Contribution. If the indemnification under Section 5(a) or 5(b)
      is unavailable to an Indemnified Party or insufficient to hold an
      Indemnified Party harmless for any Losses, then each Indemnifying Party
      shall contribute to the amount paid or payable by such Indemnified Party,
      in such proportion as is appropriate to reflect the relative fault of the
      Indemnifying Party and Indemnified Party in connection with the actions,
      statements or omissions that resulted in such Losses 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 any action in question, including any untrue or
      alleged untrue statement of a material fact or omission or alleged
      omission of a material fact, has been taken or made by, or relates to
      information supplied by, such Indemnifying Party or Indemnified Party, and
      the parties' relative intent, knowledge, access to information and
      opportunity to correct or prevent such action, statement or omission. The
      amount paid or payable by a party as a result of any Losses shall be
      deemed to include, subject to the limitations set forth in this Agreement,
      any reasonable attorneys' or other fees or expenses incurred by such party
      in connection with any Proceeding to the extent such party would have been
      indemnified for such fees or expenses if the indemnification provided for
      in this Section was available to such party in accordance with its terms.

            The parties hereto agree that it would not be just and equitable if
      contribution pursuant to this Section 5(d) were determined by pro rata
      allocation or by any other method of allocation that does not take into
      account the equitable considerations referred to in the immediately
      preceding paragraph. Notwithstanding the provisions of this Section 5(d),
      no Holder shall be required to contribute, in the aggregate, any amount in
      excess of the amount by which the net proceeds actually received by such
      Holder from the sale of the Registrable Securities subject to the
      Proceeding exceeds the amount of any damages that such Holder has
      otherwise been required to pay by reason of such untrue or alleged untrue
      statement or omission or alleged omission, except in the case of fraud by
      such Holder.

            The indemnity and contribution agreements contained in this Section
      are in addition to any liability that the Indemnifying Parties may have to
      the Indemnified Parties.

      6. Miscellaneous.

            (a) Remedies. In the event of a breach by the Company or by a Holder
      of any of their respective obligations under this Agreement, each Holder
      or the Company, as the case may be, in addition to being entitled to
      exercise all rights granted by law and under this Agreement, including
      recovery of damages, shall be entitled to specific performance of its
      rights under this Agreement. The Company and each Holder agree that
      monetary damages would not provide adequate compensation for any losses
      incurred by reason of a breach by it of any of the provisions of this
      Agreement and hereby further agrees that, in the event of any action for
      specific performance in respect of such breach, it shall not assert or
      shall waive the defense that a remedy at law would be adequate.

                                       11
<PAGE>

            (b) No Piggyback on Registrations. Except as set forth on Schedule
      6(b) attached hereto or in connection with issuances contemplated by
      clause (d) under the definition of Exempt Issuance in the Purchase
      Agreement, neither the Company nor any of its security holders (other than
      the Holders in such capacity pursuant hereto) may include securities of
      the Company in the initial Registration Statement other than the
      Registrable Securities. The Company shall not file any other registration
      statements until the initial Registration Statement required hereunder is
      declared effective by the Commission, provided that this Section 6(b)
      shall not prohibit the Company from filing amendments to registration
      statements filed prior to the date of this Agreement.

            (c) Compliance. Each Holder covenants and agrees that it will comply
      with the prospectus delivery requirements of the Securities Act as
      applicable to it in connection with sales of Registrable Securities
      pursuant to a Registration Statement.

            (d) Discontinued Disposition. By its acquisition of Registrable
      Securities, each Holder agrees that, upon receipt of a notice from the
      Company of the occurrence of any event of the kind described in Section
      3(d), such Holder will forthwith discontinue disposition of such
      Registrable Securities under a Registration Statement until it is advised
      in writing (the "Advice") by the Company that the use of the applicable
      Prospectus (as it may have been supplemented or amended) may be resumed.
      The Company will use its best efforts to ensure that the use of the
      Prospectus may be resumed as promptly as it practicable. The Company
      agrees and acknowledges that any periods during which the Holder is
      required to discontinue the disposition of the Registrable Securities
      hereunder shall be subject to the provisions of Section 2(b).

            (e) Piggy-Back Registrations. If at any time during the
      Effectiveness Period there is not an effective Registration Statement
      covering all of the Registrable Securities and the Company shall determine
      to prepare and file with the Commission a registration statement relating
      to an offering for its own account or the account of others under the
      Securities Act of any of its equity securities, other than on Form S-4 or
      Form S-8 (each as promulgated under the Securities Act) or their then
      equivalents relating to equity securities to be issued solely in
      connection with any acquisition of any entity or business or equity
      securities issuable in connection with the stock option or other employee
      benefit plans, then the Company shall send to each Holder a written notice
      of such determination and, if within fifteen days after the date of such
      notice, any such Holder shall so request in writing, the Company shall
      include in such registration statement all or any part of such Registrable
      Securities such Holder requests to be registered; provided, however, that,
      the Company shall not be required to register any Registrable Securities
      pursuant to this Section 6(e) that are eligible for resale pursuant to
      Rule 144(k) promulgated under the Securities Act or that are the subject
      of a then effective Registration Statement.

            (f) Amendments and Waivers. The provisions of this Agreement,
      including the provisions of this sentence, may not be amended, modified or
      supplemented, and waivers or consents to departures from the provisions
      hereof may not be given, unless the same shall be in writing and signed by
      the Company and Holders of at least 50.1% of the then outstanding
      Registrable Securities. Notwithstanding the foregoing, a waiver or consent
      to depart from the provisions hereof with respect to a matter that relates
      exclusively to the rights of Holders and that does not directly or
      indirectly affect the rights of other Holders may be given by Holders of
      all of the Registrable Securities to which such waiver or consent relates;
      provided, however, that the provisions of this sentence may not be
      amended, modified, or supplemented except in accordance with the
      provisions of the immediately preceding sentence.

                                       12
<PAGE>

            (g) Notices. Any and all notices or other communications or
      deliveries required or permitted to be provided hereunder shall be
      delivered as set forth in the Purchase Agreement.

            (h) Successors and Assigns. This Agreement shall inure to the
      benefit of and be binding upon the successors and permitted assigns of
      each of the parties and shall inure to the benefit of each Holder. The
      Company may not assign its rights (except by merger) or obligations
      hereunder without the prior written consent of all of the Holders of the
      then-outstanding Registrable Securities. Each Holder may assign their
      respective rights hereunder in the manner and to the Persons as permitted
      under the Purchase Agreement.

            (i) No Inconsistent Agreements. Neither the Company nor any of its
      Subsidiaries has entered, as of the date hereof, nor shall the Company or
      any of its Subsidiaries, on or after the date of this Agreement, enter
      into any agreement with respect to its securities, that would have the
      effect of impairing the rights granted to the Holders in this Agreement or
      otherwise conflicts with the provisions hereof. Except as set forth on
      Schedule 6(i), neither the Company nor any of its subsidiaries has
      previously entered into any agreement granting any registration rights
      with respect to any of its securities to any Person that have not been
      satisfied in full.

            (j) Execution and Counterparts. This Agreement may be executed in
      two or more counterparts, all of which when taken together shall be
      considered one and the same agreement and shall become effective when
      counterparts have been signed by each party and delivered to the other
      party, it being understood that both parties need not sign the same
      counterpart. In the event that any signature is delivered by facsimile
      transmission or by e-mail delivery of a ".pdf" format data file, such
      signature shall create a valid and binding obligation of the party
      executing (or on whose behalf such signature is executed) with the same
      force and effect as if such facsimile or ".pdf" signature page were an
      original thereof.

            (k) Governing Law. All questions concerning the construction,
      validity, enforcement and interpretation of this Agreement shall be
      determined in accordance with the provisions of the Purchase Agreement.

            (l) Cumulative Remedies. The remedies provided herein are cumulative
      and not exclusive of any other remedies provided by law.

                                       13
<PAGE>

            (m) Severability. If any term, provision, covenant or restriction of
      this Agreement is held by a court of competent jurisdiction to be invalid,
      illegal, void or unenforceable, the remainder of the terms, provisions,
      covenants and restrictions set forth herein shall remain in full force and
      effect and shall in no way be affected, impaired or invalidated, and the
      parties hereto shall use their commercially reasonable efforts to find and
      employ an alternative means to achieve the same or substantially the same
      result as that contemplated by such term, provision, covenant or
      restriction. It is hereby stipulated and declared to be the intention of
      the parties that they would have executed the remaining terms, provisions,
      covenants and restrictions without including any of such that may be
      hereafter declared invalid, illegal, void or unenforceable.

            (n) Headings. The headings in this Agreement are for convenience
      only, do not constitute a part of this Agreement, and shall not be deemed
      to limit or affect any of the provisions hereof.

            (o) Independent Nature of Holders' Obligations and Rights. The
      obligations of each Holder hereunder are several and not joint with the
      obligations of any other Holder hereunder, and no Holder shall be
      responsible in any way for the performance of the obligations of any other
      Holder hereunder. Nothing contained herein or in any other agreement or
      document delivered at any closing, and no action taken by any Holder
      pursuant hereto or thereto, shall be deemed to constitute the Holders as a
      partnership, an association, a joint venture or any other kind of entity,
      or create a presumption that the Holders are in any way acting in concert
      with respect to such obligations or the transactions contemplated by this
      Agreement. Each Holder shall be entitled to protect and enforce its
      rights, including without limitation the rights arising out of this
      Agreement, and it shall not be necessary for any other Holder to be joined
      as an additional party in any proceeding for such purpose.

                                       14
<PAGE>

            IN WITNESS WHEREOF, the parties have executed this Registration
Rights Agreement as of the date first written above.

DRINKS AMERICAS HOLDINGS, LTD.

By:__________________________________________
     Name:
     Title:

                       [SIGNATURE PAGE OF HOLDERS FOLLOWS]

                                       15
<PAGE>

                   [SIGNATURE PAGE OF HOLDERS TO DKAM RRA]

Name of Holder: __________________________
Signature of Authorized Signatory of Holder: __________________________
Name of Authorized Signatory: _________________________
Title of Authorized Signatory: __________________________

                             [SIGNATURE PAGES CONTINUE]

                                       16
<PAGE>

                                     ANNEX A

                              Plan of Distribution

      Each Selling Stockholder (the "Selling Stockholders") of the common stock
and any of their pledgees, assignees and successors-in-interest may, from time
to time, sell any or all of their shares of common stock on the OTC Bulletin
Board or any other stock exchange, market or trading facility on which the
shares are traded or in private transactions. These sales may be at fixed or
negotiated prices. A Selling Stockholder may use any one or more of the
following methods when selling shares:

         o  ordinary brokerage transactions and transactions in which the
            broker-dealer solicits purchasers;

         o  block trades in which the broker-dealer will attempt to sell the
            shares as agent but may position and resell a portion of the block
            as principal to facilitate the transaction;

         o  purchases by a broker-dealer as principal and resale by the
            broker-dealer for its account;

         o  an exchange distribution in accordance with the rules of the
            applicable exchange;

         o  privately negotiated transactions;

         o  settlement of short sales entered into after the effective date of
            the registration statement of which this prospectus is a part;

         o  broker-dealers may agree with the Selling Stockholders to sell a
            specified number of such shares at a stipulated price per share;

         o  through the writing or settlement of options or other hedging
            transactions, whether through an options exchange or otherwise;

         o  a combination of any such methods of sale; or

         o  any other method permitted pursuant to applicable law.

      The Selling Stockholders may also sell shares under Rule 144 under the
Securities Act of 1933, as amended (the "Securities Act"), if available, rather
than under this prospectus.

      Broker-dealers engaged by the Selling Stockholders may arrange for other
brokers-dealers to participate in sales. Broker-dealers may receive commissions
or discounts from the Selling Stockholders (or, if any broker-dealer acts as
agent for the purchaser of shares, from the purchaser) in amounts to be
negotiated, but, except as set forth in a supplement to this Prospectus, in the
case of an agency transaction not in excess of a customary brokerage commission
in compliance with NASDR Rule 2440; and in the case of a principal transaction a
markup or markdown in compliance with NASDR IM-2440.

                                       17
<PAGE>

      In connection with the sale of the common stock or interests therein, the
Selling Stockholders may enter into hedging transactions with broker-dealers or
other financial institutions, which may in turn engage in short sales of the
Common Stock in the course of hedging the positions they assume. The Selling
Stockholders may also sell shares of the common stock short and deliver these
securities to close out their short positions, or loan or pledge the common
stock to broker-dealers that in turn may sell these securities. The Selling
Stockholders may also enter into option or other transactions with
broker-dealers or other financial institutions or the creation of one or more
derivative securities which require the delivery to such broker-dealer or other
financial institution of shares offered by this prospectus, which shares such
broker-dealer or other financial institution may resell pursuant to this
prospectus (as supplemented or amended to reflect such transaction).

      The Selling Stockholders and any broker-dealers or agents that are
involved in selling the shares may be deemed to be "underwriters" within the
meaning of the Securities Act in connection with such sales. In such event, any
commissions received by such broker-dealers or agents and any profit on the
resale of the shares purchased by them may be deemed to be underwriting
commissions or discounts under the Securities Act. Each Selling Stockholder has
informed the Company that it does not have any written or oral agreement or
understanding, directly or indirectly, with any person to distribute the Common
Stock. In no event shall any broker-dealer receive fees, commissions and markups
which, in the aggregate, would exceed eight percent (8%).

      The Company is required to pay certain fees and expenses incurred by the
Company incident to the registration of the shares. The Company has agreed to
indemnify the Selling Stockholders against certain losses, claims, damages and
liabilities, including liabilities under the Securities Act.

      Because Selling Stockholders may be deemed to be "underwriters" within the
meaning of the Securities Act, they will be subject to the prospectus delivery
requirements of the Securities Act including Rule 172 thereunder. In addition,
any securities covered by this prospectus which qualify for sale pursuant to
Rule 144 under the Securities Act may be sold under Rule 144 rather than under
this prospectus. There is no underwriter or coordinating broker acting in
connection with the proposed sale of the resale shares by the Selling
Stockholders.

      We agreed to keep this prospectus effective until the earlier of (i) the
date on which the shares may be resold by the Selling Stockholders without
registration and without regard to any volume limitations by reason of Rule
144(k) under the Securities Act or any other rule of similar effect or (ii) all
of the shares have been sold pursuant to this prospectus or Rule 144 under the
Securities Act or any other rule of similar effect. The resale shares will be
sold only through registered or licensed brokers or dealers if required under
applicable state securities laws. In addition, in certain states, the resale
shares may not be sold unless they have been registered or qualified for sale in
the applicable state or an exemption from the registration or qualification
requirement is available and is complied with.

      Under applicable rules and regulations under the Exchange Act, any person
engaged in the distribution of the resale shares may not simultaneously engage
in market making activities with respect to the common stock for the applicable
restricted period, as defined in Regulation M, prior to the commencement of the
distribution. In addition, the Selling Stockholders will be subject to
applicable provisions of the Exchange Act and the rules and regulations
thereunder, including Regulation M, which may limit the timing of purchases and
sales of shares of the common stock by the Selling Stockholders or any other
person. We will make copies of this prospectus available to the Selling
Stockholders and have informed them of the need to deliver a copy of this
prospectus to each purchaser at or prior to the time of the sale (including by
compliance with Rule 172 under the Securities Act).

                                       18
<PAGE>

                                                                         Annex B

                         DRINKS AMERICAS HOLDINGS, LTD.

               Selling Securityholder Notice and Questionnaire

      The undersigned beneficial owner of common stock, par value $0.001 per
share (the "Registrable Securities") of Drinks Americas Holdings, Ltd., a
Delaware corporation (the "Company"), understands that the Company has filed or
intends to file with the Securities and Exchange Commission (the "Commission") a
registration statement (the "Registration Statement") for the registration and
resale under Rule 415 of the Securities Act of 1933, as amended (the "Securities
Act"), of the Registrable Securities, in accordance with the terms of the
Registration Rights Agreement (the "Registration Rights Agreement") to which
this document is annexed. A copy of the Registration Rights Agreement is
available from the Company upon request at the address set forth below. All
capitalized terms not otherwise defined herein shall have the meanings ascribed
thereto in the Registration Rights Agreement.

      Certain legal consequences arise from being named as a selling
securityholder in the Registration Statement and the 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 Registration
Statement and the related prospectus.

                                     NOTICE

      The undersigned beneficial owner (the "Selling Securityholder") of
Registrable Securities hereby elects to include the Registrable Securities owned
by it in the Registration Statement.

                                       19
<PAGE>

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

                                  QUESTIONNAIRE

1.    Name.

      (a)   Full Legal Name of Selling Securityholder

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

      (b)   Full Legal Name of Registered Holder (if not the same as (a) above)
            through which Registrable Securities are held:

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

      (c)   Full Legal Name of Natural Control Person (which means a natural
            person who directly or indirectly alone or with others has power to
            vote or dispose of the securities covered by the questionnaire):

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

2. Address for Notices to Selling Securityholder:

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

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

-------------------------------------------------------------------------------
-------------------------------------------------------------------------------
Telephone:
          --------------------------------------------------------------------
Fax:
Contact Person:

3.  Broker-Dealer Status:

      (a) Are you a broker-dealer?

                                     Yes |_| No |X|

      (b)   If "yes" to Section 3(a), did you receive your Registrable
            Securities as compensation for investment banking services to the
            Company.

                                     Yes |_| No |X|

                                       20
<PAGE>

      Note: If no, the  Commission's  staff has  indicated  that you should be
            identified as an underwriter in the Registration Statement.

      (c) Are you an affiliate of a broker-dealer?

                                      Yes |_| No |X|

      (d)   If you are an affiliate of a broker-dealer, do you certify that you
            bought the Registrable Securities in the ordinary course of
            business, and at the time of the purchase of the Registrable
            Securities to be resold, you had no agreements or understandings,
            directly or indirectly, with any person to distribute the
            Registrable Securities?

                                       Yes |_|  No |X|

      Note: If no, the  Commission's  staff has  indicated  that you should be
            identified as an underwriter in the Registration Statement.

4.          Beneficial Ownership of Other Securities of the Company Owned by the
            Selling Securityholder.

      Except as set forth below in this Item 4, the undersigned is not the
      beneficial or registered owner of any securities of the Company other than
      the securities issuable pursuant to the Purchase Agreement.

      (a)   Type and Amount of other securities beneficially owned by the
            Selling Securityholder:

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

5.  Relationships with the Company:

      Except as set forth below, neither the undersigned nor any of its
      affiliates, officers, directors or principal equity holders (owners of 5%
      of more of the equity securities of the undersigned) 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:

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

                                       21
<PAGE>

      The undersigned agrees to promptly notify the Company of any inaccuracies
or changes in the information provided herein that may occur subsequent to the
date hereof at any time while the Registration Statement remains effective.

      By signing below, the undersigned consents to the disclosure of the
information contained herein in its answers to Items 1 through 5 and the
inclusion of such information in the Registration Statement and the related
prospectus and any amendments or supplements thereto. The undersigned
understands that such information will be relied upon by the Company in
connection with the preparation or amendment of the Registration Statement and
the related prospectus.

      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:                              Beneficial Owner:
       -----------------------                        -----------------------

                                    By:___________________________________

                                       Name:
                                       Title:

PLEASE FAX A COPY OF THE COMPLETED AND EXECUTED NOTICE AND QUESTIONNAIRE, AND
RETURN THE ORIGINAL BY OVERNIGHT MAIL, TO:

                                       22NEITHER THIS SECURITY NOR THE SECURITIES INTO WHICH THIS SECURITY IS EXERCISABLE
HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE
SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM
REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES
ACT"), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN
EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN
AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION
REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE
SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR TO
SUCH EFFECT, THE SUBSTANCE OF WHICH SHALL BE REASONABLY ACCEPTABLE TO THE
COMPANY. THIS SECURITY AND THE SECURITIES ISSUABLE UPON EXERCISE OF THIS
SECURITY MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER
LOAN SECURED BY SUCH SECURITIES.

                          COMMON STOCK PURCHASE WARRANT

                         DRINKS AMERICAS HOLDINGS, LTD.

Warrant Shares: ______                    Initial Exercise Date: July __, 2007
                                          Issue Date: January __, 2007

            THIS COMMON STOCK PURCHASE WARRANT (the "Warrant") certifies that,
for value received, _____________ (the "Holder"), is entitled, upon the terms
and subject to the limitations on exercise and the conditions hereinafter set
forth, at any time on or after the six month anniversary of the date hereof (the
"Initial Exercise Date") and on or prior to the close of business on the 5 year
anniversary of the Initial Exercise Date (the "Termination Date") but not
thereafter, to subscribe for and purchase from Drinks Americas Holdings, Ltd., a
Delaware corporation (the "Company"), up to ______ shares (the "Warrant Shares")
of common stock, par value $0.001 per share, of the Company (the "Common
Stock"). The purchase price of one share of Common Stock under this Warrant
shall be equal to the Exercise Price, as defined in Section 2(b).

      Section 1. Definitions. Capitalized terms used and not otherwise defined
herein shall have the meanings set forth in that certain Securities Purchase
Agreement (the "Purchase Agreement"), dated January 30, 2007, among the Company
and the purchasers signatory thereto.

                                       1
<PAGE>

      Section 2.  Exercise.

            a) Exercise of Warrant. Exercise of the purchase rights represented
      by this Warrant may be made, in whole or in part, at any time or times on
      or after the Initial Exercise Date and on or before the Termination Date
      by delivery to the Company of a duly executed facsimile copy of the Notice
      of Exercise Form annexed hereto (or such other office or agency of the
      Company as it may designate by notice in writing to the registered Holder
      at the address of such Holder appearing on the books of the Company); and,
      within 3 Trading Days of the date said Notice of Exercise is delivered to
      the Company, the Company shall have received payment of the aggregate
      Exercise Price of the shares thereby purchased by wire transfer or
      cashier's check drawn on a United States bank. Notwithstanding anything
      herein to the contrary, the Holder shall not be required to physically
      surrender this Warrant to the Company until the Holder has purchased all
      of the Warrant Shares available hereunder and the Warrant has been
      exercised in full, in which case, the Holder shall surrender this Warrant
      to the Company for cancellation within 3 Trading Days of the date the
      final Notice of Exercise is delivered to the Company. Partial exercises of
      this Warrant resulting in purchases of a portion of the total number of
      Warrant Shares available hereunder shall have the effect of lowering the
      outstanding number of Warrant Shares purchasable hereunder in an amount
      equal to the applicable number of Warrant Shares purchased. The Holder and
      the Company shall maintain records showing the number of Warrant Shares
      purchased and the date of such purchases. The Company shall deliver any
      objection to any Notice of Exercise Form within 2 Business Days of receipt
      of such notice. The Holder and any assignee, by acceptance of this
      Warrant, acknowledge and agree that, by reason of the provisions of this
      paragraph, following the purchase of a portion of the Warrant Shares
      hereunder, the number of Warrant Shares available for purchase hereunder
      at any given time may be less than the amount stated on the face hereof.

            b) Exercise Price. The exercise price per share of the Common Stock
      under this Warrant shall be $3.00, subject to adjustment hereunder (the
      "Exercise Price").

            c) Cashless Exercise. If at any time after one year from the date of
      issuance of this Warrant there is no effective Registration Statement
      registering, or no current prospectus available for, the resale of the
      Warrant Shares by the Holder, then this Warrant may also be exercised at
      such time by means of a "cashless exercise" in which the Holder shall be
      entitled to receive a certificate for the number of Warrant Shares equal
      to the quotient obtained by dividing [(A-B) (X)] by (A), where:

             (A) = the VWAP on the Trading Day immediately preceding the date of
                 such election;

            (B)   = the Exercise Price of this Warrant, as adjusted; and

            (X)   = the number of Warrant Shares issuable upon exercise of this
                  Warrant in accordance with the terms of this Warrant by means
                  of a cash exercise rather than a cashless exercise.

            Notwithstanding anything herein to the contrary, on the Termination
      Date, this Warrant shall be automatically exercised via cashless exercise
      pursuant to this Section 2(c).

                                       2
<PAGE>

            d) Exercise Limitations. The Company shall not effect any exercise
      of this Warrant, and a Holder shall not have the right to exercise any
      portion of this Warrant, pursuant to Section 2(c) or otherwise, to the
      extent that after giving effect to such issuance after exercise as set
      forth on the applicable Notice of Exercise, such Holder (together with
      such Holder's Affiliates, and any other person or entity acting as a group
      together with such Holder or any of such Holder's Affiliates), as set
      forth on the applicable Notice of Exercise, would beneficially own in
      excess of the Beneficial Ownership Limitation (as defined below). For
      purposes of the foregoing sentence, the number of shares of Common Stock
      beneficially owned by such Holder and its Affiliates shall include the
      number of shares of Common Stock issuable upon exercise of this Warrant
      with respect to which such determination is being made, but shall exclude
      the number of shares of Common Stock which would be issuable upon (A)
      exercise of the remaining, nonexercised portion of this Warrant
      beneficially owned by such Holder or any of its Affiliates and (B)
      exercise or conversion of the unexercised or nonconverted portion of any
      other securities of the Company (including, without limitation, any other
      Common Stock or Warrants) subject to a limitation on conversion or
      exercise analogous to the limitation contained herein beneficially owned
      by such Holder or any of its affiliates. Except as set forth in the
      preceding sentence, for purposes of this Section 2(d), beneficial
      ownership shall be calculated in accordance with Section 13(d) of the
      Exchange Act and the rules and regulations promulgated thereunder, it
      being acknowledged by a Holder that the Company is not representing to
      such Holder that such calculation is in compliance with Section 13(d) of
      the Exchange Act and such Holder is solely responsible for any schedules
      required to be filed in accordance therewith. To the extent that the
      limitation contained in this Section 2(d) applies, the determination of
      whether this Warrant is exercisable (in relation to other securities owned
      by such Holder together with any Affiliates) and of which a portion of
      this Warrant is exercisable shall be in the sole discretion of a Holder,
      and the submission of a Notice of Exercise shall be deemed to be each
      Holder's determination of whether this Warrant is exercisable (in relation
      to other securities owned by such Holder together with any Affiliates) and
      of which portion of this Warrant is exercisable, in each case subject to
      such aggregate percentage limitation, and the Company shall have no
      obligation to verify or confirm the accuracy of such determination. In
      addition, a determination as to any group status as contemplated above
      shall be determined in accordance with Section 13(d) of the Exchange Act
      and the rules and regulations promulgated thereunder. For purposes of this
      Section 2(d), in determining the number of outstanding shares of Common
      Stock, a Holder may rely on the number of outstanding shares of Common
      Stock as reflected in (x) the Company's most recent Form 10-QSB or Form
      10-KSB, as the case may be, (y) a more recent public announcement by the
      Company or (z) any other notice by the Company or the Company's Transfer
      Agent setting forth the number of shares of Common Stock outstanding. Upon
      the written or oral request of a Holder, the Company shall within two
      Trading Days confirm orally and in writing to such Holder the number of
      shares of Common Stock then outstanding. In any case, the number of
      outstanding shares of Common Stock shall be determined after giving effect
      to the conversion or exercise of securities of the Company, including this
      Warrant, by such Holder or its Affiliates since the date as of which such
      number of outstanding shares of Common Stock was reported. The "Beneficial
      Ownership Limitation" shall be 4.99% of the number of shares of the Common
      Stock outstanding immediately after giving effect to the issuance of
      shares of Common Stock issuable upon exercise of this Warrant. The
      Beneficial Ownership Limitation provisions of this Section 2(d) may be
      waived by such Holder, at the election of such Holder, upon not less than
      61 days' prior notice to the Company to change the Beneficial Ownership
      Limitation to 9.99% of the number of shares of the Common Stock
      outstanding immediately after giving effect to the issuance of shares of
      Common Stock upon exercise of this Warrant, and the provisions of this
      Section 2(d) shall continue to apply. Upon such a change by a Holder of
      the Beneficial Ownership Limitation from such 4.99% limitation to such
      9.99% limitation, the Beneficial Ownership Limitation may not be further
      waived by such Holder. The provisions of this paragraph shall be construed
      and implemented in a manner otherwise than in strict conformity with the
      terms of this Section 2(d) to correct this paragraph (or any portion
      hereof) which may be defective or inconsistent with the intended
      Beneficial Ownership Limitation herein contained or to make changes or
      supplements necessary or desirable to properly give effect to such
      limitation. The limitations contained in this paragraph shall apply to a
      successor holder of this Warrant.

                                       3
<PAGE>

            e) Mechanics of Exercise.

                        i. Authorization of Warrant Shares. The Company
                  covenants that all Warrant Shares which may be issued upon the
                  exercise of the purchase rights represented by this Warrant
                  will, upon exercise of the purchase rights represented by this
                  Warrant, be duly authorized, validly issued, fully paid and
                  nonassessable and free from all taxes, liens and charges
                  created by the Company in respect of the issue thereof (other
                  than taxes in respect of any transfer occurring
                  contemporaneously with such issue).

                        ii. Delivery of Certificates Upon Exercise. Certificates
                  for shares purchased hereunder shall be transmitted by the
                  transfer agent of the Company to the Holder by crediting the
                  account of the Holder's prime broker with the Depository Trust
                  Company through its Deposit Withdrawal Agent Commission
                  ("DWAC") system if the Company is a participant in such
                  system, and otherwise by physical delivery to the address
                  specified by the Holder in the Notice of Exercise within 3
                  Trading Days from the delivery to the Company of the Notice of
                  Exercise Form, surrender of this Warrant (if required) and
                  payment of the aggregate Exercise Price as set forth above
                  ("Warrant Share Delivery Date"). This Warrant shall be deemed
                  to have been exercised on the date the Exercise Price is
                  received by the Company. The Warrant Shares shall be deemed to
                  have been issued, and Holder or any other person so designated
                  to be named therein shall be deemed to have become a holder of
                  record of such shares for all purposes, as of the date the
                  Warrant has been exercised by payment to the Company of the
                  Exercise Price (or by cashless exercise, if permitted) and all
                  taxes required to be paid by the Holder, if any, pursuant to
                  Section 2(e)(vii) prior to the issuance of such shares, have
                  been paid.

                                       4
<PAGE>

                        iii. Delivery of New Warrants Upon Exercise. If this
                  Warrant shall have been exercised in part, the Company shall,
                  at the request of a Holder and upon surrender of this Warrant
                  certificate, at the time of delivery of the certificate or
                  certificates representing Warrant Shares, deliver to Holder a
                  new Warrant evidencing the rights of Holder to purchase the
                  unpurchased Warrant Shares called for by this Warrant, which
                  new Warrant shall in all other respects be identical with this
                  Warrant.

                        iv. Rescission Rights. If the Company fails to cause its
                  transfer agent to transmit to the Holder a certificate or
                  certificates representing the Warrant Shares pursuant to this
                  Section 2(e)(iv) by the Warrant Share Delivery Date, then the
                  Holder will have the right to rescind such exercise.

                        v. Compensation for Buy-In on Failure to Timely Deliver
                  Certificates Upon Exercise. In addition to any other rights
                  available to the Holder, if the Company fails to cause its
                  transfer agent to transmit to the Holder a certificate or
                  certificates representing the Warrant Shares pursuant to an
                  exercise on or before the Warrant Share Delivery Date, and if
                  after such date the Holder is required by its broker to
                  purchase (in an open market transaction or otherwise) or the
                  Holder's brokerage firm otherwise purchases, shares of Common
                  Stock to deliver in satisfaction of a sale by the Holder of
                  the Warrant Shares which the Holder anticipated receiving upon
                  such exercise (a "Buy-In"), then the Company shall (1) pay in
                  cash to the Holder the amount by which (x) the Holder's total
                  purchase price (including brokerage commissions, if any) for
                  the shares of Common Stock so purchased exceeds (y) the amount
                  obtained by multiplying (A) the number of Warrant Shares that
                  the Company was required to deliver to the Holder in
                  connection with the exercise at issue times (B) the price at
                  which the sell order giving rise to such purchase obligation
                  was executed, and (2) at the option of the Holder, either
                  reinstate the portion of the Warrant and equivalent number of
                  Warrant Shares for which such exercise was not honored or
                  deliver to the Holder the number of shares of Common Stock
                  that would have been issued had the Company timely complied
                  with its exercise and delivery obligations hereunder. For
                  example, if the Holder purchases Common Stock having a total
                  purchase price of $11,000 to cover a Buy-In with respect to an
                  attempted exercise of shares of Common Stock with an aggregate
                  sale price giving rise to such purchase obligation of $10,000,
                  under clause (1) of the immediately preceding sentence the
                  Company shall be required to pay the Holder $1,000. The Holder
                  shall provide the Company written notice indicating the
                  amounts payable to the Holder in respect of the Buy-In and,
                  upon request of the Company, evidence of the amount of such
                  loss. Nothing herein shall limit a Holder's right to pursue
                  any other remedies available to it hereunder, at law or in
                  equity including, without limitation, a decree of specific
                  performance and/or injunctive relief with respect to the
                  Company's failure to timely deliver certificates representing
                  shares of Common Stock upon exercise of the Warrant as
                  required pursuant to the terms hereof.

                                       5
<PAGE>

                        vi. No Fractional Shares or Scrip. No fractional shares
                  or scrip representing fractional shares shall be issued upon
                  the exercise of this Warrant. As to any fraction of a share
                  which Holder would otherwise be entitled to purchase upon such
                  exercise, the Company shall at its election, either pay a cash
                  adjustment in respect of such final fraction in an amount
                  equal to such fraction multiplied by the Exercise Price or
                  round up to the next whole share.

                        vii. Charges, Taxes and Expenses. Issuance of
                  certificates for Warrant Shares shall be made without charge
                  to the Holder for any issue or transfer tax or other
                  incidental expense in respect of the issuance of such
                  certificate, all of which taxes and expenses shall be paid by
                  the Company, and such certificates shall be issued in the name
                  of the Holder or in such name or names as may be directed by
                  the Holder; provided, however, that in the event certificates
                  for Warrant Shares are to be issued in a name other than the
                  name of the Holder, this Warrant when surrendered for exercise
                  shall be accompanied by the Assignment Form attached hereto
                  duly executed by the Holder; and the Company may require, as a
                  condition thereto, the payment of a sum sufficient to
                  reimburse it for any transfer tax incidental thereto.

                        viii. Closing of Books. The Company will not close its
                  stockholder books or records in any manner which prevents the
                  timely exercise of this Warrant, pursuant to the terms hereof.

      Section 3.  Certain Adjustments.

            a) Stock Dividends and Splits. If the Company, at any time while
      this Warrant is outstanding: (A) pays a stock dividend or otherwise make a
      distribution or distributions on shares of its Common Stock or any other
      equity or equity equivalent securities payable in shares of Common Stock
      (which, for avoidance of doubt, shall not include any shares of Common
      Stock issued by the Company upon exercise of this Warrant), (B) subdivides
      outstanding shares of Common Stock into a larger number of shares, (C)
      combines (including by way of reverse stock split) outstanding shares of
      Common Stock into a smaller number of shares, or (D) issues by
      reclassification of shares of the Common Stock any shares of capital stock
      of the Company, then in each case the Exercise Price shall be multiplied
      by a fraction of which the numerator shall be the number of shares of
      Common Stock (excluding treasury shares, if any) outstanding immediately
      before such event and of which the denominator shall be the number of
      shares of Common Stock outstanding immediately after such event and the
      number of shares issuable upon exercise of this Warrant shall be
      proportionately adjusted. Any adjustment made pursuant to this Section
      3(a) shall become effective immediately after the record date for the
      determination of stockholders entitled to receive such dividend or
      distribution and shall become effective immediately after the effective
      date in the case of a subdivision, combination or re-classification.

                                       6
<PAGE>

            b) Subsequent Equity Sales. If the Company or any Subsidiary
      thereof, as applicable, at any time while this Warrant is outstanding,
      shall sell or grant any option to purchase, or sell or grant any right to
      reprice its securities, or otherwise dispose of or issue (or announce any
      offer, sale, grant or any option to purchase or other disposition) any
      Common Stock or Common Stock Equivalents entitling any Person to acquire
      shares of Common Stock, at an effective price per share less than the then
      Exercise Price (such lower price, the "Base Share Price" and such
      issuances collectively, a "Dilutive Issuance") (if the holder of the
      Common Stock or Common Stock Equivalents so issued shall at any time,
      whether by operation of purchase price adjustments, reset provisions,
      floating conversion, exercise or exchange prices or otherwise, or due to
      warrants, options or rights per share which are issued in connection with
      such issuance, be entitled to receive shares of Common Stock at an
      effective price per share which is less than the Exercise Price, such
      issuance shall be deemed to have occurred for less than the Exercise Price
      on such date of the Dilutive Issuance), then the Exercise Price shall be
      reduced and only reduced to equal the Base Share Price and the number of
      Warrant Shares issuable hereunder shall be increased such that the
      aggregate Exercise Price payable hereunder, after taking into account the
      decrease in the Exercise Price, shall be equal to the aggregate Exercise
      Price prior to such adjustment. Such adjustment shall be made whenever
      such Common Stock or Common Stock Equivalents are issued. Notwithstanding
      the foregoing, no adjustments shall be made, paid or issued under this
      Section 3(b) in respect of an Exempt Issuance. The Company shall notify
      the Holder in writing, no later than the Trading Day following the
      issuance of any Common Stock or Common Stock Equivalents subject to this
      Section 3(b), indicating therein the applicable issuance price, or
      applicable reset price, exchange price, conversion price and other pricing
      terms (such notice the "Dilutive Issuance Notice"). For purposes of
      clarification, whether or not the Company provides a Dilutive Issuance
      Notice pursuant to this Section 3(b), upon the occurrence of any Dilutive
      Issuance, after the date of such Dilutive Issuance the Holder is entitled
      to receive a number of Warrant Shares based upon the Base Share Price
      regardless of whether the Holder accurately refers to the Base Share Price
      in the Notice of Exercise.

            c) Subsequent Rights Offerings. If the Company, at any time while
      the Warrant is outstanding, shall issue rights, options or warrants to all
      holders of Common Stock (and not to Holders) entitling them to subscribe
      for or purchase shares of Common Stock at a price per share less than the
      VWAP at the record date mentioned below, then the Exercise Price shall be
      multiplied by a fraction, of which the denominator shall be the number of
      shares of the Common Stock outstanding on the date of issuance of such
      rights or warrants plus the number of additional shares of Common Stock
      offered for subscription or purchase, and of which the numerator shall be
      the number of shares of the Common Stock outstanding on the date of
      issuance of such rights or warrants plus the number of shares which the
      aggregate offering price of the total number of shares so offered
      (assuming receipt by the Company in full of all consideration payable upon
      exercise of such rights, options or warrants) would purchase at such VWAP.
      Such adjustment shall be made whenever such rights or warrants are issued,
      and shall become effective immediately after the record date for the
      determination of stockholders entitled to receive such rights, options or
      warrants.

            d) Pro Rata Distributions. If the Company, at any time prior to the
      Termination Date, shall distribute to all holders of Common Stock (and not
      to Holders of the Warrants) evidences of its indebtedness or assets
      (including cash and cash dividends) or rights or warrants to subscribe for
      or purchase any security other than the Common Stock (which shall be
      subject to Section 3(b)), then in each such case the Exercise Price shall
      be adjusted by multiplying the Exercise Price in effect immediately prior
      to the record date fixed for determination of stockholders entitled to
      receive such distribution by a fraction of which the denominator shall be
      the VWAP determined as of the record date mentioned above, and of which
      the numerator shall be such VWAP on such record date less the then per
      share fair market value at such record date of the portion of such assets
      or evidence of indebtedness so distributed applicable to one outstanding
      share of the Common Stock as determined by the Board of Directors in good
      faith. In either case the adjustments shall be described in a statement
      provided to the Holder of the portion of assets or evidences of
      indebtedness so distributed or such subscription rights applicable to one
      share of Common Stock. Such adjustment shall be made whenever any such
      distribution is made and shall become effective immediately after the
      record date mentioned above.

                                       7
<PAGE>

            e) Fundamental Transaction. If, at any time while this Warrant is
      outstanding, (A) the Company effects any merger or consolidation of the
      Company with or into another Person, (B) the Company effects any sale of
      all or substantially all of its assets in one or a series of related
      transactions, (C) any tender offer or exchange offer (whether by the
      Company or another Person) is completed pursuant to which holders of
      Common Stock are permitted to tender or exchange their shares for other
      securities, cash or property, or (D) the Company effects any
      reclassification of the Common Stock or any compulsory share exchange
      pursuant to which the Common Stock is effectively converted into or
      exchanged for other securities, cash or property (in any such case, a
      "Fundamental Transaction"), then, upon any subsequent exercise of this
      Warrant, the Holder shall have the right to receive, for each Warrant
      Share that would have been issuable upon such exercise immediately prior
      to the occurrence of such Fundamental Transaction, the number of shares of
      Common Stock of the successor or acquiring corporation or of the Company,
      if it is the surviving corporation, and any additional consideration (the
      "Alternate Consideration") receivable upon or as a result of such
      reorganization, reclassification, merger, consolidation or disposition of
      assets by a Holder of the number of shares of Common Stock for which this
      Warrant is exercisable immediately prior to such event. For purposes of
      any such exercise, the determination of the Exercise Price shall be
      appropriately adjusted to apply to such Alternate Consideration based on
      the amount of Alternate Consideration issuable in respect of one share of
      Common Stock in such Fundamental Transaction, and the Company shall
      apportion the Exercise Price among the Alternate Consideration in a
      reasonable manner reflecting the relative value of any different
      components of the Alternate Consideration. If holders of Common Stock are
      given any choice as to the securities, cash or property to be received in
      a Fundamental Transaction, then the Holder shall be given the same choice
      as to the Alternate Consideration it receives upon any exercise of this
      Warrant following such Fundamental Transaction. To the extent necessary to
      effectuate the foregoing provisions, any successor to the Company or
      surviving entity in such Fundamental Transaction shall issue to the Holder
      a new warrant consistent with the foregoing provisions and evidencing the
      Holder's right to exercise such warrant into Alternate Consideration. The
      terms of any agreement pursuant to which a Fundamental Transaction is
      effected shall include terms requiring any such successor or surviving
      entity to comply with the provisions of this Section 3(e) and insuring
      that this Warrant (or any such replacement security) will be similarly
      adjusted upon any subsequent transaction analogous to a Fundamental
      Transaction. Notwithstanding anything to the contrary, in the event of a
      Fundamental Transaction that is (1) an all cash transaction, (2) a "Rule
      13e-3 transaction" as defined in Rule 13e-3 under the Securities Exchange
      Act of 1934, as amended, or (3) a Fundamental Transaction involving a
      person or entity not traded on a national securities exchange, the Nasdaq
      Global Select Market, the Nasdaq Global Market, the Nasdaq Capital Market,
      the Company or any successor entity shall pay at the Holder's option,
      exercisable at any time concurrently with or within 30 days after the
      consummation of the Fundamental Transaction, an amount of cash equal to
      the value of this Warrant as determined in accordance with the
      Black-Scholes option pricing formula using an expected volatility equal to
      the 100 day historical price volatility obtained from the HVT function on
      Bloomberg Financial Markets as of the trading day immediately prior to the
      public announcement of the Fundamental Transaction.

            f) Calculations. All calculations under this Section 3 shall be made
      to the nearest cent or the nearest 1/100th of a share, as the case may be.
      For purposes of this Section 3, the number of shares of Common Stock
      deemed to be issued and outstanding as of a given date shall be the sum of
      the number of shares of Common Stock (excluding treasury shares, if any)
      issued and outstanding.

                                       8
<PAGE>

            g) Voluntary Adjustment By Company. The Company may at any time
      during the term of this Warrant reduce the then current Exercise Price to
      any amount and for any period of time deemed appropriate by the Board of
      Directors of the Company.

            h) Notice to Holder.

                        i. Adjustment to Exercise Price. Whenever the Exercise
                  Price is adjusted pursuant to any provision of this Section 3,
                  the Company shall promptly mail to the Holder a notice setting
                  forth the Exercise Price after such adjustment and setting
                  forth a brief statement of the facts requiring such
                  adjustment. If the Company enters into a Variable Rate
                  Transaction (as defined in the Purchase Agreement), despite
                  the prohibition thereon in the Purchase Agreement, the Company
                  shall be deemed to have issued Common Stock or Common Stock
                  Equivalents at the lowest possible conversion or exercise
                  price at which such securities may be converted or exercised.

                        ii. Notice to Allow Exercise by Holder. If (A) the
                  Company shall declare a dividend (or any other distribution in
                  whatever form) on the Common Stock; (B) the Company shall
                  declare a special nonrecurring cash dividend on or a
                  redemption of the Common Stock; (C) the Company shall
                  authorize the granting to all holders of the Common Stock
                  rights or warrants to subscribe for or purchase any shares of
                  capital stock of any class or of any rights; (D) the approval
                  of any stockholders of the Company shall be required in
                  connection with any reclassification of the Common Stock, any
                  consolidation or merger to which the Company is a party, any
                  sale or transfer of all or substantially all of the assets of
                  the Company, of any compulsory share exchange whereby the
                  Common Stock is converted into other securities, cash or
                  property; (E) the Company shall authorize the voluntary or
                  involuntary dissolution, liquidation or winding up of the
                  affairs of the Company; then, in each case, the Company shall
                  cause to be mailed to the Holder at its last address as it
                  shall appear upon the Warrant Register of the Company, at
                  least 20 calendar days prior to the applicable record or
                  effective date hereinafter specified, a notice stating (x) the
                  date on which a record is to be taken for the purpose of such
                  dividend, distribution, redemption, rights or warrants, or if
                  a record is not to be taken, the date as of which the holders
                  of the Common Stock of record to be entitled to such dividend,
                  distributions, redemption, rights or warrants are to be
                  determined or (y) the date on which such reclassification,
                  consolidation, merger, sale, transfer or share exchange is
                  expected to become effective or close, and the date as of
                  which it is expected that holders of the Common Stock of
                  record shall be entitled to exchange their shares of the
                  Common Stock for securities, cash or other property
                  deliverable upon such reclassification, consolidation, merger,
                  sale, transfer or share exchange; provided that the failure to
                  mail such notice or any defect therein or in the mailing
                  thereof shall not affect the validity of the corporate action
                  required to be specified in such notice. The Holder is
                  entitled to exercise this Warrant during the 20-day period
                  commencing on the date of such notice to the effective date of
                  the event triggering such notice.

                                       9
<PAGE>

      Section 4.  Transfer of Warrant.

            a) Transferability. Subject to compliance with any applicable
      securities laws and the conditions set forth in Section 4(d) hereof and to
      the provisions of Section 4.1 of the Purchase Agreement, this Warrant and
      all rights hereunder (including, without limitation, any registration
      rights) are transferable, in whole or in part, upon surrender of this
      Warrant at the principal office of the Company or its designated agent,
      together with a written assignment of this Warrant substantially in the
      form attached hereto duly executed by the Holder or its agent or attorney
      and funds sufficient to pay any transfer taxes payable upon the making of
      such transfer. Upon such surrender and, if required, such payment, the
      Company shall execute and deliver a new Warrant or Warrants in the name of
      the assignee or assignees and in the denomination or denominations
      specified in such instrument of assignment, and shall issue to the
      assignor a new Warrant evidencing the portion of this Warrant not so
      assigned, and this Warrant shall promptly be cancelled. A Warrant, if
      properly assigned, may be exercised by a new holder for the purchase of
      Warrant Shares without having a new Warrant issued.

            b) New Warrants. This Warrant may be divided or combined with other
      Warrants upon presentation hereof at the aforesaid office of the Company,
      together with a written notice specifying the names and denominations in
      which new Warrants are to be issued, signed by the Holder or its agent or
      attorney. Subject to compliance with Section 4(a), as to any transfer
      which may be involved in such division or combination, the Company shall
      execute and deliver a new Warrant or Warrants in exchange for the Warrant
      or Warrants to be divided or combined in accordance with such notice.

            c) Warrant Register. The Company shall register this Warrant, upon
      records to be maintained by the Company for that purpose (the "Warrant
      Register"), in the name of the record Holder hereof from time to time. The
      Company may deem and treat the registered Holder of this Warrant as the
      absolute owner hereof for the purpose of any exercise hereof or any
      distribution to the Holder, and for all other purposes, absent actual
      notice to the contrary.

            d) Transfer Restrictions. If, at the time of the surrender of this
      Warrant in connection with any transfer of this Warrant, the transfer of
      this Warrant shall not be registered pursuant to an effective registration
      statement under the Securities Act and under applicable state securities
      or blue sky laws, the Company may require, as a condition of allowing such
      transfer, that (i) the Holder or transferee of this Warrant, as the case
      may be, furnish to the Company a written opinion of counsel (which opinion
      shall be in form, substance and scope customary for opinions of counsel in
      comparable transactions) to the effect that such transfer may be made
      without registration under the Securities Act and under applicable state
      securities or blue sky laws, and (ii) the Holder or transferee execute and
      deliver to the Company an investment letter in form and substance
      acceptable to the Company, and (iii) the transferee be an "accredited
      investor" as defined in Rule 501(a)(1), (a)(2), (a)(3), (a)(7), or (a)(8)
      promulgated under the Securities Act or a "qualified institutional buyer"
      as defined in Rule 144A(a) promulgated under the Securities Act.

                                       10
<PAGE>

      Section 5.  Miscellaneous.

            a) No Rights as Shareholder Until Exercise. This Warrant does not
      entitle the Holder to any voting rights or other rights as a shareholder
      of the Company prior to the exercise hereof as set forth in Section
      2(e)(ii).

            b) Loss, Theft, Destruction or Mutilation of Warrant. The Company
      covenants that upon receipt by the Company of evidence reasonably
      satisfactory to it of the loss, theft, destruction or mutilation of this
      Warrant or any stock certificate relating to the Warrant Shares, and in
      case of loss, theft or destruction, of indemnity or security reasonably
      satisfactory to it (which, in the case of the Warrant, shall not include
      the posting of any bond), and upon surrender and cancellation of such
      Warrant or stock certificate, if mutilated, the Company will make and
      deliver a new Warrant or stock certificate of like tenor and dated as of
      such cancellation, in lieu of such Warrant or stock certificate.

            c) Saturdays, Sundays, Holidays, etc. If the last or appointed day
      for the taking of any action or the expiration of any right required or
      granted herein shall not be a Business Day, then such action may be taken
      or such right may be exercised on the next succeeding Business Day.

            d) Authorized Shares.

                  The Company covenants that during the period the Warrant is
            outstanding, it will reserve from its authorized and unissued Common
            Stock a sufficient number of shares to provide for the issuance of
            the Warrant Shares upon the exercise of any purchase rights under
            this Warrant. The Company further covenants that its issuance of
            this Warrant shall constitute full authority to its officers who are
            charged with the duty of executing stock certificates to execute and
            issue the necessary certificates for the Warrant Shares upon the
            exercise of the purchase rights under this Warrant. The Company will
            take all such reasonable action as may be necessary to assure that
            such Warrant Shares may be issued as provided herein without
            violation of any applicable law or regulation, or of any
            requirements of the Trading Market upon which the Common Stock may
            be listed.

                  Except and to the extent as waived or consented to by the
            Holder, the Company shall not by any action, including, without
            limitation, amending its certificate of incorporation or through any
            reorganization, transfer of assets, consolidation, merger,
            dissolution, issue or sale of securities or any other voluntary
            action, avoid or seek to avoid the observance or performance of any
            of the terms of this Warrant, but will at all times in good faith
            assist in the carrying out of all such terms and in the taking of
            all such actions as may be necessary or appropriate to protect the
            rights of Holder as set forth in this Warrant against impairment.
            Without limiting the generality of the foregoing, the Company will
            (a) not increase the par value of any Warrant Shares above the
            amount payable therefor upon such exercise immediately prior to such
            increase in par value, (b) take all such action as may be necessary
            or appropriate in order that the Company may validly and legally
            issue fully paid and nonassessable Warrant Shares upon the exercise
            of this Warrant, and (c) use commercially reasonable efforts to
            obtain all such authorizations, exemptions or consents from any
            public regulatory body having jurisdiction thereof as may be
            necessary to enable the Company to perform its obligations under
            this Warrant.

                                       11
<PAGE>

                  Before taking any action which would result in an adjustment
            in the number of Warrant Shares for which this Warrant is
            exercisable or in the Exercise Price, the Company shall obtain all
            such authorizations or exemptions thereof, or consents thereto, as
            may be necessary from any public regulatory body or bodies having
            jurisdiction thereof.

            e) Jurisdiction. All questions concerning the construction,
      validity, enforcement and interpretation of this Warrant shall be
      determined in accordance with the provisions of the Purchase Agreement.

            f) Restrictions. The Holder acknowledges that the Warrant Shares
      acquired upon the exercise of this Warrant, if not registered, will have
      restrictions upon resale imposed by state and federal securities laws.

            g) Nonwaiver and Expenses. No course of dealing or any delay or
      failure to exercise any right hereunder on the part of Holder shall
      operate as a waiver of such right or otherwise prejudice Holder's rights,
      powers or remedies, notwithstanding the fact that all rights hereunder
      terminate on the Termination Date. If the Company willfully and knowingly
      fails to comply with any provision of this Warrant, which results in any
      material damages to the Holder, the Company shall pay to Holder such
      amounts as shall be sufficient to cover any costs and expenses including,
      but not limited to, reasonable attorneys' fees, including those of
      appellate proceedings, incurred by Holder in collecting any amounts due
      pursuant hereto or in otherwise enforcing any of its rights, powers or
      remedies hereunder.

            h) Notices. Any notice, request or other document required or
      permitted to be given or delivered to the Holder by the Company shall be
      delivered in accordance with the notice provisions of the Purchase
      Agreement.

            i) Limitation of Liability. No provision hereof, in the absence of
      any affirmative action by Holder to exercise this Warrant to purchase
      Warrant Shares, and no enumeration herein of the rights or privileges of
      Holder, shall give rise to any liability of Holder for the purchase price
      of any Common Stock or as a stockholder of the Company, whether such
      liability is asserted by the Company or by creditors of the Company.

                                       12
<PAGE>

            j) Remedies. Holder, in addition to being entitled to exercise all
      rights granted by law, including recovery of damages, will be entitled to
      specific performance of its rights under this Warrant. The Company agrees
      that monetary damages would not be adequate compensation for any loss
      incurred by reason of a breach by it of the provisions of this Warrant and
      hereby agrees to waive and not to assert the defense in any action for
      specific performance that a remedy at law would be adequate.

            k) Successors and Assigns. Subject to applicable securities laws,
      this Warrant and the rights and obligations evidenced hereby shall inure
      to the benefit of and be binding upon the successors of the Company and
      the successors and permitted assigns of Holder. The provisions of this
      Warrant are intended to be for the benefit of all Holders from time to
      time of this Warrant and shall be enforceable by any such Holder or holder
      of Warrant Shares.

            l) Amendment. This Warrant may be modified or amended or the
      provisions hereof waived with the written consent of the Company and the
      Holder.

            m) Severability. Wherever possible, each provision of this Warrant
      shall be interpreted in such manner as to be effective and valid under
      applicable law, but if any provision of this Warrant shall be prohibited
      by or invalid under applicable law, such provision shall be ineffective to
      the extent of such prohibition or invalidity, without invalidating the
      remainder of such provisions or the remaining provisions of this Warrant.

            n) Headings. The headings used in this Warrant are for the
      convenience of reference only and shall not, for any purpose, be deemed a
      part of this Warrant.

                             ********************

                                       13
<PAGE>

            IN WITNESS WHEREOF, the Company has caused this Warrant to be
executed by its officer thereunto duly authorized as of the date first above
indicated.

                                   DRINKS AMERICAS HOLDINGS, LTD.

                                   By:__________________________________________
                                        Name:
                                        Title:

                                       14
<PAGE>

                               NOTICE OF EXERCISE

TO:   DRINKS AMERICAS HOLDINGS, LTD.

            (1) The undersigned hereby elects to purchase ________ Warrant
Shares of the Company pursuant to the terms of the attached Warrant (only if
exercised in full), and tenders herewith payment of the exercise price in full,
together with all applicable transfer taxes, if any.

            (2) Payment shall take the form of (check applicable box):

                  [  ] in lawful money of the United States; or

                  [ ] [if permitted] the cancellation of such number of Warrant
                  Shares as is necessary, in accordance with the formula set
                  forth in subsection 2(c), to exercise this Warrant with
                  respect to the maximum number of Warrant Shares purchasable
                  pursuant to the cashless exercise procedure set forth in
                  subsection 2(c).

            (3) Please issue a certificate or certificates representing said
Warrant Shares in the name of the undersigned or in such other name as is
specified below:

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

The Warrant Shares shall be delivered to the following DWAC Account Number or by
physical delivery of a certificate to:

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

            (4)  Accredited  Investor.   The  undersigned  is  an  "accredited
investor" as defined in Regulation D promulgated  under the  Securities Act of
1933, as amended.

[SIGNATURE OF HOLDER]

Name of Investing Entity:

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

Signature of Authorized Signatory of Investing Entity:

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

Name of Authorized Signatory:

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

Title of Authorized Signatory:

--------------------------------------------------------------------
Date:

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

                                       15
<PAGE>

                                 ASSIGNMENT FORM

         (To assign the foregoing warrant, execute this form and supply
                              required information.
                 Do not use this form to exercise the warrant.)

            FOR  VALUE  RECEIVED,  [____]  all of or  [_______]  shares of the
foregoing Warrant and all rights evidenced thereby are hereby assigned to

_______________________________________________ whose address is

---------------------------------------------------------------.

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

                                   Dated:  ______________, _______

           Holder's Signature:     _____________________________

           Holder's Address: _____________________________

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

Signature Guaranteed:  ___________________________________________

NOTE: The signature to this Assignment Form must correspond with the name as it
appears on the face of the Warrant, without alteration or enlargement or any
change whatsoever, and must be guaranteed by a bank or trust company. Officers
of corporations and those acting in a fiduciary or other representative capacity
should file proper evidence of authority to assign the foregoing Warrant.

                                       16

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