Document:

EXECUTION COPY
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                           SECURED CREDIT AGREEMENT

                         Dated as of August 31, 2001

                                   between

                    WELLS-GARDNER ELECTRONICS CORPORATION,

                           an Illinois corporation,

                     AMERICAN GAMING & ELECTRONICS, INC.,

                            a Nevada corporation,

                                     and

                          AMERICAN NATIONAL BANK AND
                           TRUST COMPANY OF CHICAGO

<PAGE>
                              TABLE OF CONTENTS

                                                                       Page

 ARTICLE I   DEFINITIONS ........................................      1

      1.1  Definitions...........................................      1

      1.2  Other Interpretive Provisions.........................     15

      1.3  Accounting Principles.................................     16

 ARTICLE II  THE CREDITS ........................................     16

      2.1  Description of Facility...............................     16

           2.1.1  Revolving Facility.............................     16

           2.1.2  Term Facility..................................     16

           2.1.3  Use of Proceeds................................     16

      2.2  Advances..............................................     16

           2.2.1  Commitment.....................................     16

           2.2.2  Termination....................................     16

           2.2.3  [INTENTIONALLY OMITTED]........................     17

           2.2.4  Types of Advances..............................     17

           2.2.5  Minimum Amount of Each Advance.................     17

           2.2.6  Method of Selecting Types and Interest Periods
                  for New Advances...............................     17

           2.2.7  Conversion and Continuation of Outstanding
                  Advances.......................................     17

      2.3  Facility Letters of Credit............................     18

           2.3.1  Obligation to Issue............................     18

           2.3.2  Types and Amounts..............................     18

           2.3.3  Conditions.....................................     19

           2.3.4  Procedure for Issuance of Facility Letters of
                  Credit.........................................     19

           2.3.5  Reimbursement Obligations......................     20

           2.3.6  Participation..................................     20

           2.3.7  Payment of Reimbursement Obligations...........     21

           2.3.8  Compensation for Facility Letters of Credit....     21

           2.3.9  Facility Letter of Credit Collateral Account...     21

      2.4  General Facility Terms................................     22

           2.4.1  Fees; Reductions in Aggregate Commitment.......     22

           2.4.2  Optional Principal Payments; Mandatory
                  Principal Payments.............................     23

           2.4.3  Changes in Interest Rate, etc..................     23

           2.4.4  Rates Applicable After Default.................     23

           2.4.5  Method of Payment..............................     23

           2.4.6  Recovery of Payment............................     24

           2.4.7  Collateral.....................................     24

           2.4.8  Notes; Telephonic Notices......................     24

           2.4.9  Interest Payment Dates; Interest and Fee Basis.     24

           2.4.10  Principal and Interest Payments Upon The Term
                   Loan..........................................     25

           2.4.11  Notification of Advances, Interest Rates, and
                   Prepayments...................................     25

           2.4.12  Lending Institutions..........................     25

           2.4.13  Non-Receipt of Funds by the Lender............     25

           2.4.14  Withholding Tax Exemption.....................     25

           2.4.15  Maintenance of Balances and Lock Box Account..     26

 ARTICLE III CHANGE IN CIRCUMSTANCES ............................     26

      3.1  Yield Protection......................................     26

      3.2  Changes in Capital Adequacy Regulations...............     27

      3.3  Taxes.................................................     27

      3.4  Lender Statements; Survival of Indemnity..............     28

 ARTICLE IV  CONDITIONS PRECEDENT ...............................     29

      4.1  Initial Advance and Facility Letter of Credit.........     29

      4.2  Each Advance and Facility Letter of Credit............     31

 ARTICLE V   REPRESENTATIONS AND WARRANTIES .....................     31

      5.1  Corporate Existence and Standing......................     31

      5.2  Authorization and Validity............................     32

      5.3  No Conflict; Government Consent.......................     32

      5.4  Financial Statements..................................     32

      5.5  Material Adverse Change...............................     32

      5.6  Taxes.................................................     33

      5.7  Litigation and Contingent Obligations.................     33

      5.8  Subsidiaries..........................................     33

      5.9  ERISA.................................................     33

      5.10 Accuracy of Information...............................     34

      5.11 Regulation U..........................................     34

      5.12 Material Agreements...................................     34

      5.13 Compliance With Laws..................................     34

      5.14 Ownership of Properties...............................     34

      5.15 Environmental Matters.................................     34

      5.16 Investment Company Act................................     35

      5.17 Public Utility Holding Company Act....................     35

      5.18 Intentionally Omitted.................................     35

      5.19 Intellectual Property.................................     35

      5.20 Labor.................................................     35

      5.21 Solvency..............................................     35

      5.22 Post-Retirement Benefits..............................     35

      5.23 Insurance.............................................     36

      5.24 Insurance Certificate.................................     36

 ARTICLE VI  COVENANTS ..........................................     36

      6.1  Financial Reporting...................................     36

      6.2  Use of Proceeds.......................................     38

      6.3  Notice of Default.....................................     39

      6.4  Conduct of Business...................................     39

      6.5  Taxes.................................................     39

      6.6  Insurance.............................................     39

      6.7  Compliance with Laws..................................     39

      6.8  Maintenance of Properties.............................     39

      6.9  Inspection............................................     39

      6.10 Financial Covenants...................................     40

           6.10.1  Leverage Ratio................................     40

           6.10.2  Interest Coverage Ratio.......................     40

           6.10.3  Fixed Charge Coverage Ratio...................     40

           6.10.4  Capital Expenditures..........................     40

      6.11 [Intentionally Omitted]...............................     40

      6.12 Indebtedness..........................................     40

      6.13 Merger................................................     41

      6.14 Sale of Assets........................................     41

      6.15 Investments and Acquisitions..........................     41

      6.16 Liens.................................................     42

      6.17 Prohibition of Negative Pledge........................     43

      6.18 Affiliates............................................     43

      6.19 Amendments to Agreements..............................     43

      6.20 Sale of Accounts......................................     43

      6.21 Fiscal Year...........................................     43

      6.22 Limitation on the Creation of Subsidiaries............     43

      6.23 Subsidiary Dividends..................................     44

      6.24 Repayment of Subordinated Debt........................     44

 ARTICLE VII DEFAULTS ...........................................     44

 ARTICLE VIII ACCELERATION, WAIVERS, AMENDMENTS AND REMEDIES.....     47

      8.1  Acceleration..........................................     47

      8.2  Amendments............................................     47

      8.3  Preservation of Rights................................     48

 ARTICLE IX  GENERAL PROVISIONS .................................     48

      9.1  Survival of Representations...........................     48

      9.2  Governmental Regulation...............................     48

      9.3  Taxes.................................................     48

      9.4  Headings..............................................     48

      9.5  Entire Agreement......................................     49

      9.6  Several Obligations; Benefits of this Agreement.......     49

      9.7  Expenses; Indemnification.............................     49

      9.8  Numbers of Documents..................................     49

      9.9  Accounting............................................     49

      9.10 Severability of Provisions............................     49

      9.11 Nonliability of Lenders...............................     50

      9.12 Confidentiality.......................................     50

      9.13 Nonreliance...........................................     50

 ARTICLE X   SETOFF; RATABLE PAYMENTS ...........................     50

      10.1 Setoff................................................     50

      10.2 Ratable Payments......................................     50

 ARTICLE XI  BENEFIT OF AGREEMENT; ASSIGNMENTS; PARTICIPATION ...     51

      11.1 Successors and Assigns................................     51

      11.2 Participation.........................................     51

           11.2.1  Permitted Participants; Effect................     51

           11.2.2  Voting Rights.................................     52

           11.2.3  Benefit of Setoff.............................     52

      11.3 Assignments...........................................     52

           11.3.1  Permitted Assignments.........................     52

           11.3.2  Effect; Effective Date........................     52

      11.4 Dissemination of Information..........................     53

      11.5 Tax Treatment.........................................     53

 ARTICLE XII NOTICES ............................................     53

      12.1 Notices...............................................     53

      12.2 Change of Address.....................................     53

 ARTICLE XIIICOUNTERPARTS .......................................     54

 ARTICLE XIV CHOICE OF LAW, CONSENT TO JURISDICTION, WAIVER OF
             JURY TRIAL .........................................     54

      14.1 Choice of Law.........................................     54

      14.2 Consent to Jurisdiction...............................     54

      14.3 Waiver of Jury Trial..................................     54

      14.4 Joint and Several Obligations.........................     54

<PAGE>

 SCHEDULE 1       [Deleted]

 SCHEDULE 2       [Deleted]

 SCHEDULE 5.5     Material Adverse Changes since June 30, 2001

 SCHEDULE 5.6     Exceptions to Tax Representations

 SCHEDULE 5.7     Pending Litigation

 SCHEDULE 5.8     Borrower's Subsidiaries

 SCHEDULE 5.9     Exceptions to ERISA Representation with respect to Plan
                  Withdrawals

 SCHEDULE 5.14    Exceptions to Representation Concerning Ownership of
                  Properties

 SCHEDULE 5.15    Exceptions to Representation Concerning Environmental
                  Matters

 SCHEDULE 6.12    Permitted Indebtedness

 SCHEDULE 6.15    (viii) Description of Existing Investments

 SCHEDULE 6.18    Transactions with Affiliates

 EXHIBIT A        Form of Compliance Certificate

 EXHIBIT B        Form of Revolving Note and Term Note

 EXHIBIT C        Form of Security Agreement

 EXHIBIT D        Form of Facility Letter of Credit Request

 EXHIBIT E        Form of Opinion of Outside Counsel For Borrower

 EXHIBIT F        Form of Written Money Transfer Instructions

 EXHIBIT G        Form of Stock Pledge Agreement

 EXHIBIT H        Borrowing Base Certificate

 EXHIBIT I        Authorization to File UCC Financing Statements

<PAGE>

                               CREDIT AGREEMENT

      This Credit Agreement (this "Agreement"), dated as of August 31,  2001,
 is between WELLS-GARDNER  ELECTRONICS CORPORATION,  an Illinois  corporation
 ("W-G"), AMERICAN GAMING & ELECTRONICS,  INC., a Nevada corporation  ("AGE")
 ((W-G and AGE herein together with  their successors and assigns (if and  as
 permitted hereunder) are referred  to both jointly  and individually as  the
 "Borrower")), and AMERICAN NATIONAL BANK AND  TRUST COMPANY OF CHICAGO  (the
 "Lender").  The parties hereto agree as follows:

                                  ARTICLE I

                                 DEFINITIONS

      1.1  Definitions.  As used in this Agreement, the following terms shall
 have the meanings herein specified unless the context otherwise requires:

      "Account" means any  right to payment  for goods sold  or for  services
 rendered which is not evidenced by  an instrument or chattel paper,  whether
 or not it has been earned by performance or delivery.

      "Account Debtor"  has  the  meaning stated  therefor  in  the  Security
 Agreement.

      "Acquisition"  means  any  transaction,   or  any  series  of   related
 transactions, consummated on or after the  date of this Agreement, by  which
 the Borrower or any  of its respective Subsidiaries  (i) acquires any  going
 concern business or  all or  substantially all of  the assets  of any  firm,
 corporation or division  thereof, whether  through the  purchase of  assets,
 merger or  otherwise  or  (ii)  directly  or  indirectly  acquires  (in  one
 transaction or as the most recent  transaction in a series of  transactions)
 at least a majority (in number of votes) of the securities of a  corporation
 which have ordinary voting power for  the election of directors (other  than
 securities  having  such  power  only  by  reason  of  the  happening  of  a
 contingency)  or  a  majority  (by  percentage  or  voting  power)  of   the
 outstanding partnership interests of  a partnership or membership  interests
 in a limited liability company.

      "Advance" means a borrowing hereunder consisting  of the amount of  the
 Loan made by the Lender to the Borrower on the same Borrowing Date.

      "Affiliate" of any Person means any other Person directly or indirectly
 controlling, controlled by  or under  common control  with such  Person.   A
 Person shall be deemed to control  another Person if the controlling  Person
 owns 10%  or more  of any  class of  voting securities  (or other  ownership
 interests) of the  controlled Person or  possesses, directly or  indirectly,
 the power to direct or cause the direction of the management or policies  of
 the controlled Person, whether  through ownership of  stock, by contract  or
 otherwise.

      "AGE" is defined in the preamble.

      "Aggregate Available  Revolving  Commitment"  means,  at  any  date  of
 determination thereof, the Aggregate Revolving  Commitment minus the sum  of
 (i) the Facility Letter of Credit Obligations then outstanding and (ii)  the
 aggregate principal amount of all Revolving Advances then outstanding.

      "Aggregate Commitment" means the aggregate of the Lender's  Commitments
 as reduced from time to time pursuant to the terms hereof.

      "Aggregate Revolving Commitment" means $12,000,000.

      "Agreement" means  this  Credit Agreement,  as  it may  be  amended  or
 modified and in effect from time to time.

      "Applicable Fee Rate" means, at any time, the percentage rate per annum
 at which Commitment Fees are accruing on the unused portion of the Aggregate
 Commitment as set forth in the Pricing Schedule.

      "Applicable  Letter  of  Credit  Percentage"  means  at  any  time  the
 percentage set forth on the Pricing Schedule for Letters of Credit.

      "Applicable Margin" means, with respect to Advances of any Type at  any
 time, the percentage rate  per annum which is  applicable at such time  with
 respect to Advances of such Type as set forth in the Pricing Schedule.

      "Article" means an article of this Agreement unless another document is
 specifically referenced.

      "Authorized Officer" means  any of the  Chairman, President,  Executive
 Vice President,  Vice  President,  Chief  Financial  Officer,  Secretary  or
 Treasurer of the   Borrower,  or any other  senior officer  of the  Borrower
 designated as such in writing  to the Lender by  the Borrower, in each  case
 acting singly.

      "Bank One" means Bank One Corporation.

      "Benefit Plan" means each employee benefit  plan as defined in  Section
 3(3) of ERISA of the Borrower and each of their respective Subsidiaries.

      "Borrower" has the meaning stated in the preamble.

      "Borrowing Base" means an amount equal to the lesser of (1) $12,000,000
 or (2) an amount, adjusted as described below, equal to (a) 85% of the  face
 amount  (less maximum discounts,  credits  and allowances which may be taken
 by  or granted  to  the  Account Debtor  thereof  in  connection  therewith)
 of all existing Eligible Accounts  that are  set forth  in  the Schedule  of
 Accounts  then  most  recently  delivered  by  the  Borrower to  the  Lender
 and  all existing  Eligible  Accounts that are set forth  in any Schedule of
 Accounts delivered by  the  Borrower to  the  Lender since the date of  such
 Schedule of Accounts, which  amount  shall be reduced  by 100%  of the  face
 amount of all payments which the  Borrower has received on or in  connection
 with its Eligible Accounts since the date of such Schedule of Accounts, plus
 (b) the  lesser of  (i) $6,000,000  or  (ii) 35%  of Eligible  Raw  Material
 Inventory plus 50% of Eligible Finished Goods Inventory all as set forth  in
 the Schedule of Inventory  then most recently delivered  by the Borrower  to
 the Lender and all existing Eligible Inventory set forth in any Schedule  of
 Inventory delivered by  the Borrower to  the Lender since  the date of  such
 Schedule of Inventory; provided, however, that, notwithstanding any contrary
 provision contained herein, the Lender may elect at any time after five days
 prior notice to the Borrower, in its reasonable discretion exercised in good
 faith, to change the foregoing method  of calculating the Borrowing Base  by
 reducing advances against  Eligible Accounts and  Eligible Inventory, or  to
 deduct additional reserves from  the Borrowing Base.   For purposes  hereof,
 unless otherwise notified by the Borrower,  the Lender will assume that  all
 monies collected in the Lock Box (as defined in the Security Agreement)  are
 payments of Eligible Accounts.

      "Borrowing Date" means a date on which an Advance is made hereunder.

      "Business Day" means (i) with respect to any borrowing, payment and for
 all other purposes, a day (other than  a Saturday or Sunday) on which  banks
 generally are open in Chicago, Illinois for the conduct of substantially all
 of their commercial lending activities.

      "Borrowing Notice" is defined in Section 2.2.6.

      "Capital Expenditures" means, without duplication, any expenditures for
 any purchase or other acquisition of any asset which would be classified  as
 a fixed or capital asset on a consolidated balance sheet of the Borrower and
 its Subsidiaries prepared in accordance with GAAP.

      "Capitalized Lease" of  a Person means  any lease of  Property by  such
 Person as  lessee which  would be  capitalized on  a balance  sheet of  such
 Person prepared in accordance with GAAP.

      "Capitalized Lease Obligations"  of a Person  means the  amount of  the
 obligations of such Person under Capitalized Leases which would be shown  as
 a liability on a  balance sheet of such  Person prepared in accordance  with
 GAAP.

      "Change" means (i) any change after  the date of this Agreement in  the
 Risk-Based Capital Guidelines or (ii) any adoption of or change in any other
 law, governmental or quasi-governmental rule, regulation, policy, guideline,
 interpretation, or directive (whether or not having the force of law)  after
 the date of this Agreement which  affects the amount of capital required  or
 expected to be maintained  by any Lender or  any Lending Institution or  any
 corporation controlling any Lender.

      "Closing Date" means August 31, 2001.

      "Code" means the Internal Revenue Code of 1986, as amended, reformed or
 otherwise modified from time to time.

      "Collateral" means all property and interests in property and  proceeds
 thereof now owned or hereafter acquired by the Borrower and its Subsidiaries
 (other than the Property of WEA)  in or upon which  a Lien now or  hereafter
 exists in favor of the Lender.

      "Commercial Letter of Credit" means any Facility Letter of Credit  that
 is a commercial or trade Letter of Credit.

      "Commitment" means the  obligation of Lender  to make  Loans and  issue
 Facility Letters  of  Credit  in  an  aggregate  amount  not  exceeding  the
 Aggregate Commitment,  as such  amount may  be modified  from time  to  time
 pursuant to the terms hereof.

      "Commitment Fee" has the meaning stated in Section 2.4.1.1(ii).

      "Compliance Certificate" means a compliance certificate,  substantially
 in the form of Exhibit  A hereto, signed by  the chief financial officer  or
 treasurer of the Borrower, showing  the calculations necessary to  determine
 compliance with  this Agreement  and stating  that no  Default or  Unmatured
 Default exists, or if any Default  or Unmatured Default exists, stating  the
 nature and status thereof.

      "Condemnation" is defined in Section 7.8.

      "Consolidated  Capital  Expenditures"  means,  with  reference  to  any
 period, the  Capital  Expenditures  of the  Borrower  and  its  Subsidiaries
 calculated on a consolidated basis for such period.

      "Consolidated Funded  Indebtedness" means  at  any time  the  aggregate
 dollar amount of  Consolidated Indebtedness which  has actually been  funded
 and is  outstanding at  such time,  whether or  not such  amount is  due  or
 payable at such time.

      "Consolidated Indebtedness" means at any  time the Indebtedness of  the
 Borrower and its Subsidiaries calculated on a consolidated basis as of  such
 time.

      "Contingent Obligation"  of a  Person means,  without duplication,  any
 agreement, undertaking  or  arrangement by  which  such Person  directly  or
 indirectly assumes guarantees, endorses, contingently agrees to purchase  or
 provide funds for the  payment of, or otherwise  becomes or is  contingently
 liable upon, the obligation or liability  of any other Person, or agrees  to
 maintain the net worth  or working capital or  other financial condition  of
 any other Person,  or otherwise assures  any creditor of  such other  Person
 against  loss,  including,  without  limitation,  any  operating  agreement,
 comfort  letter,  take-or-pay  contract  or  application  or   reimbursement
 agreement  for  a  Letter  of  Credit  but  excluding  any  endorsement   of
 instruments for deposit or collection in the ordinary course of business.

      "Controlled  Group"  means  all  members  of  a  controlled  group   of
 corporations and  all trades  or businesses  (whether or  not  incorporated)
 under common  control  which, together  with  the  Borrower or  any  of  its
 Subsidiaries, are treated  as a  single employer  under Section  414 of  the
 Code.

      "Credit Party" means the Borrower.

      "Current Assets" means the value of the current assets of Borrower  and
 its Subsidiaries determined in accordance with GAAP.

      "Current Liabilities" means as of any date, the aggregate amount of all
 liabilities of Borrower and its  Subsidiaries determined in accordance  with
 GAAP which  would,  in  accordance  with  GAAP,  be  classified  as  current
 liabilities by a Person conducting a  business the same as or  substantially
 similar to  that of  Borrower.   Current Liabilities  include, but  are  not
 limited  to,   all   outstanding  Revolving   Advances   and   Reimbursement
 Obligations.

      "Debt" means  as  of  any  time  the  aggregate  of  all  indebtedness,
 obligations, liabilities, reserves and any other items which would be listed
 as a liability on a consolidated balance sheet of the Borrower in accordance
 with GAAP consistently applied, and in any event including all  indebtedness
 and liabilities  of  any other  person  which the  Borrower  or any  of  its
 Subsidiaries may guarantee or otherwise be responsible or liable for  (other
 than any liability arising  out of the endorsement  of commercial paper  for
 deposit or collection in the ordinary course of business), all  indebtedness
 and liabilities secured by any lien on  any property of the Borrower or  any
 of its  Subsidiaries, whether  or not  the  same would  be classified  as  a
 liability on a balance sheet,  the liability of the  Borrower or any of  its
 Subsidiaries, in respect to banker's acceptances and letters of credit,  and
 the aggregate  amount  of rentals  or  other consideration  payable  by  the
 Borrower or any of its Subsidiaries over the remaining unexpired term of all
 capital leases  (determined  in accordance  with  GAAP), but  excluding  all
 general contingency  reserves and  reserves for  deferred income  taxes  and
 investment credit.

      "Default" means an event described in Article VII.

      "Dollars", "U.S. Dollars" and  "$" mean dollars  in lawful currency  of
 the United States of America.

      "Debt Service Coverage Ratio" for a given period means the ratio of (i)
 EBIT plus depreciation and amortization minus unfunded Consolidated  Capital
 Expenditures and paid cash taxes, to  (ii) Interest Expense, plus  scheduled
 principal payments upon Consolidated  Funded Indebtedness (excluding  Excess
 Cash Flow Payments).

      "EBIT" means for  the applicable  period earnings  before interest  and
 taxes of the Borrower and its Subsidiaries taken as a whole.

      "EBITDA" means  for the  applicable period,  earnings before  interest,
 taxes, depreciation and  amortization of the  Borrower and its  Subsidiaries
 taken as a  whole calculated, unless  otherwise provided  herein based  upon
 such items for the rolling twelve  months immediately preceding the date  of
 calculation.

      "Eligible Account" means any of the Accounts of the Borrower or any  of
 its Subsidiaries which meets each of the following requirements:  (i) if  it
 arises from the sale of goods, such goods have been shipped or delivered  to
 the Account Debtor thereof  or such goods are  being invoiced in  accordance
 with the  Borrower's or  such Subsidiary's  customary progress  billings  in
 accordance with GAAP; (ii) it is a valid, legally enforceable obligation  of
 the  Account  Debtor  thereunder,  and  is   not  subject  to  any   offset,
 counterclaim or other defense on such Account Debtor's part or to any  claim
 on such Account Debtor's  part denying liability thereunder  in whole or  in
 part; (iii) it is subject to a perfected  Lien in the Lender's favor and  is
 not subject to any other Lien  whatsoever, except for Permitted Liens;  (iv)
 it is evidenced by an invoice (dated not later than the date of shipment  to
 the Account Debtor or  performance and having  a due date  not more than  60
 days after  the date  of  invoice (except  for  progress payments  due  from
 Tropical Gaming,  which  payments are  secured  by a  security  interest  in
 equipment sold to Tropical Gaming, and Lender has received an assignment  of
 such security  interest  in form  acceptable  to Lender)  rendered  to  such
 Account Debtor, and is not evidenced by any instrument or chattel paper; (v)
 it is payable in Dollars; (vi) it is not accounts owing by any  governmental
 agency or  body, (vii)  it is  not  owing by  any Account  Debtor  residing,
 located or having its principal activities or place of business outside  the
 United States of America  or Canada (excluding the  Province of Quebec,  and
 excluding any other province of Canada unless UCC type filings acceptable to
 Lender's counsel are  already on file  in the province  of Canada where  the
 Account Debtor resides), or who is not subject to service of process  within
 the continental United States of America,  unless it is secured by a  letter
 of credit in  form and substance  acceptable to the  Lender in the  Lender's
 sole discretion or, it  is an account owing  by one or  more of the  Account
 Debtors listed on Schedule 1.1 hereto and such accounts in the aggregate  do
 not exceed twenty percent (20%) of the total of Eligible Accounts; (viii) it
 is not owing by any Account Debtor involved in any bankruptcy or  insolvency
 proceeding; (ix) it is not owing by any of the Borrower's Affiliates; (x) it
 is not unpaid more than 90 days after the  date of such invoice; (xi) it  is
 not owing by an Account Debtor  which shall have failed  to pay in full  any
 invoice evidencing  any  Account within  90  days  after the  date  of  such
 invoice, unless the total invoice amounts of such Account Debtor which  have
 not been paid within 90 days of the date of such invoice represent less than
 25% of the total invoice amounts (or in the case of WMS/Midway Gaming,  less
 than 50% of  the total  invoice amounts)  then outstanding  of such  Account
 Debtor; (xii) it is not an account upon  which the Account Debtor is any  of
 the Borrower's Subsidiaries;  (xiii) it  is the  Aristocrat Receivable;  and
 (xiv) it is  not an Account  as to which  the Lender, at  any time or  times
 hereafter, determines,  in  good faith,  that  the prospect  of  payment  or
 performance by  the Account  Debtor thereof  is  or will  be impaired.    An
 Account of the Borrower which is at any time an Eligible Account, but  which
 subsequently  fails  to  meet  any  of  the  foregoing  requirements,  shall
 forthwith cease to be an Eligible Account.

      "Eligible Finished  Goods  Inventory" means  Eligible  Inventory  which
 consists of Finished Goods  ready for immediate sale  in the Borrower's  and
 its Subsidiaries' ordinary course of business  and is not greater in  amount
 than the Borrower's Inventory sold during the prior twelve month period.

      "Eligible Inventory"  means the  Borrower's and  its Subsidiaries'  raw
 materials and  finished goods  at cost  which meets  each of  the  following
 requirements:  (i) it is in the Borrower's possession actual or constructive
 and in such  condition that it  may be sold  in the ordinary  course of  the
 Borrower's and its Subsidiaries' business (after processing, in the case  of
 raw materials);  (ii) in  the case  of goods  held for  sale, it  is  unused
 (except as the Bank may otherwise consent in writing) except in the case  of
 refurbished parts, games and monitors held for resale in the ordinary course
 of  Borrower's  business;  (iii)  it  is  owned  by  the  Borrower  or   its
 Subsidiaries and is subject to a perfected Lien in the Lender's favor and is
 not subject to any other Lien  whatsoever, except for Permitted Liens;  (iv)
 it is not  an item awaiting  return to vendors;  (v) it is  not a  Non-Stock
 Item; (vi)  it  is  maintained  in  compliance  with  all  governmental  and
 governmental agency regulations; and  (vii) the Lender,  in good faith,  has
 determined, in accordance  with the Lender's  customary business  practices,
 that it is not unacceptable due to age, type, category and/or quantity.  Any
 of the Borrower's and its Subsidiaries Inventory which is Eligible Inventory
 at any  time, but  which subsequently  fails to  meet any  of the  foregoing
 requirements, shall forthwith cease to be Eligible Inventory.

      "Eligible Raw Material Inventory" means all Eligible Inventory which is
 not Eligible Finished Goods Inventory.

      "Environmental Laws"  means  any  and all  federal,  state,  local  and
 foreign statutes, laws, judicial decisions, regulations, ordinances,  rules,
 judgments,  orders,  decrees,  injunctions,  permits,  grants,   franchises,
 licenses, agreements and other governmental restrictions relating to (i) the
 protection of the environment, (ii) the  effect of the environment on  human
 health, (iii) emissions, discharges or releases of pollutants, contaminants,
 hazardous substances or wastes into surface water, ground water or land,  or
 (iv) the  manufacture, processing,  distribution, use,  treatment,  storage,
 disposal, transport  or  handling  of  pollutants,  contaminants,  hazardous
 substances or wastes or the clean-up or other remediation thereof.

      "ERISA" means the Employee Retirement Income  Security Act of 1974,  as
 amended from time to time, and any rule or regulation issued thereunder.

      "Eurodollar Advance"  means  an  Advance  which,  except  as  otherwise
 provided herein, bears interest at the applicable Eurodollar Rate.

      "Eurodollar Base Rate" means, with respect to a Eurodollar Advance  for
 the relevant Interest Period,  the rate determined by  the Lender to be  the
 rate at which Bank One offers to place deposits in U.S. dollars with  first-
 class banks  in the  London interbank  market  at approximately  11:00  a.m.
 (London time) two  Business Days  prior to the  first day  of such  Interest
 Period, in the approximate amount of Bank One's relevant Eurodollar Loan and
 having a maturity equal to such Interest Period.

      "Eurodollar Loan" means a Loan which,  except as otherwise provided  in
 Section 2.11, bears interest at the applicable Eurodollar Rate.

      "Eurodollar Rate" means, with respect to  a Eurodollar Advance for  the
 relevant Interest Period, the sum of (i) the quotient of (a) the  Eurodollar
 Base Rate applicable to such Interest  Period, divided by (b) one minus  the
 Reserve Requirement (expressed  as a  decimal) applicable  to such  Interest
 Period, plus the Applicable Margin.  The Eurodollar Rate shall be rounded to
 the next higher multiple of 1/16 of 1.0% if the rate is not such a multiple.

      "Excess Cash Flow" means for a period, Borrower's and its Subsidiaries'
 EBIT for such  period plus depreciation  and amortization  expense for  such
 period minus (a) interest  expense for such  period, (b) required  principal
 payments on  Indebtedness from  borrowed funds  for such  period  (including
 Capitalized Lease Obligations  and voluntary  prepayments of  the Term  Loan
 during such period), and (c) income tax expense for such period.

      "Excess Cash Flow Payments" is defined in Section 2.4.10.

      "Excluded Taxes" means, in the case of the Lender or applicable Lending
 Installation, taxes imposed on its overall  net income, and franchise  taxes
 imposed on it, by (i) the jurisdiction  under the laws of which such  Lender
 is incorporated or organized,  (ii) the jurisdiction  in which the  Lender's
 principal executive office or applicable Lending Institution is located,  or
 (iii) any  other  taxes  to  which the  Lender  or  its  applicable  Lending
 Institution would be  subject without regard  to any Loan  made pursuant  to
 this Agreement.

      "Facility Letter of  Credit Collateral Account"  is defined in  Section
 2.3.9.

      "Facility  Letter  of  Credit  Obligations"  means,  at  any  date   of
 determination thereof, all liabilities, whether actual or contingent, of the
 Borrower in respect of  the Facility Letters  of Credit, including,  without

 limitation, the sum of (i) Reimbursement Obligations and (ii) the  aggregate
 undrawn face amount of any outstanding Facility Letters of Credit.

      "Facility Letter of Credit Request" is defined in Section 2.3.4.

      "Facility Letters of Credit" means, collectively, the Letters of Credit
 issued by the Lender pursuant to Section 2.3.

      "Fiscal Year"  means,  with respect  to  the  Borrower or  any  of  its
 Subsidiaries, the one year fiscal period  beginning on January 1 and  ending
 on the last day of each calendar year.

       "Floating Rate" means,  for any  day, a rate  per annum  equal to  the
 Prime Rate for such  day plus the Applicable  Margin, in each case  changing
 when and as the Prime Rate changes.

      "Floating Rate Advance"  means an  Advance, which  except as  otherwise
 provided herein, bears interest at the Floating Rate.

      "Funded Debt to EBITDA Ratio" is defined in the Pricing Schedule.

      "GAAP" means  generally accepted  accounting principles  in the  United
 States of America as in  effect from time to  time; it being understood  and
 agreed that determinations in accordance with  GAAP for purposes of  Section
 6.10, including  defined terms  as used  therein, shall  utilize  accounting
 principles and policies in effect at the time of the preparation of, and  in
 conformity with those used  to prepare, the  December 31, 2000  consolidated
 financial  statements  of  the  Borrower  and  its  Subsidiaries  heretofore
 delivered to the Lender.

      "Gross Up Event" means  the occurrence of any  of the events stated  in
 Sections 3.1 or 3.2 hereof.

      "Indebtedness" of a  Person means, without  duplication, such  Person's
 (i) obligations  for  borrowed  money,  (ii)  obligations  representing  the
 deferred purchase price of Property or services (other than accounts payable
 arising in the ordinary  course of such Person's  business payable on  terms
 customary in the trade), (iii) obligations, whether or not assumed,  secured
 by Liens, or payable out of the proceeds or production from property now  or
 hereafter owned  or acquired  by such  Person,  (iv) obligations  which  are
 evidenced by notes, acceptances, or other instruments, (v) Capitalized Lease
 Obligations, (vi) Rate Hedging Obligations, (vii) Contingent Obligations and
 (viii) Subordinated Debt.

      "Intangible Assets"  means  the  amount (to  the  extent  reflected  in
 determining consolidated stockholders' equity) of  (i) all write-ups in  the
 book value of any asset owned or  acquired by the Borrower or a  Subsidiary,
 (ii) all goodwill, covenants not to compete, prepayments, deferred  charges,
 franchises, patents, trademarks, service marks, trade names, brand names and
 copyrights, (iii) all deferred financing  costs (including, but not  limited
 to,  unamortized  debt  discount  and  expense,  organization  expense   and
 experimental and development expenses, but excluding prepaid expenses),  and
 (iv) leasehold improvements not recoverable at the expiration of a lease.

      "Intellectual Property" is defined in Section 5.19 hereof.

      "Interest Expense" means, for any  period of calculation, all  interest
 expense on Indebtedness, calculated for such period for the Borrower and its
 Subsidiaries on a consolidated basis in accordance with GAAP.

      "Interest Period" means, with respect to a Eurodollar Advance, a period
 of one, two, three or  six months commencing on  a Business Day selected  by
 the Borrower pursuant to this Agreement.  Such Interest Period shall end  on
 the day which corresponds  numerically to such date  one, two, three or  six
 months thereafter, provided, however, that if  there is no such  numerically
 corresponding day in  such next, second,  third or  sixth succeeding  month,
 such Interest  Period shall  end on  the  last Business  Day of  such  next,
 second, third  or  sixth  succeeding month.  If  an  Interest  Period  would
 otherwise end on a  day which is  not a Business  Day, such Interest  Period
 shall end on the  next succeeding Business Day,  provided, however, that  if
 said next  succeeding Business  Day  falls in  a  new calendar  month,  such
 Interest Period shall end on the immediately preceding Business Day.

      "Internally Generated by Borrower's  Operations" means with respect  to
 funds, funds which  are (i) derived  from Borrower's  and its  Subsidiaries'
 ordinary course  of  business  operations; or  (ii)  proceeds  of  sales  of
 Borrower's and its Subsidiaries' assets permitted hereunder.

      "Inventory" shall  have the  meaning stated  therefor in  the  Security
 Agreement.

      "Investment"  of  a  Person  means   any  loan,  advance  (other   than
 commission, travel and  similar advances  to officers,  employees and  sales
 Lenders made in the ordinary course of business), extension of credit (other
 than accounts receivable arising in the ordinary course of business on terms
 customary in the trade) or contribution  of capital by such Person,  stocks,
 bonds, mutual  funds,  partnership  interests, notes,  debentures  or  other
 securities owned by such Person.

      "Issuance Date" means, with respect to  any Facility Letter of  Credit,
 the date on which such Facility Letter of Credit is issued hereunder.

      "Issuance Fee"  means, with  respect to  any Letter  of Credit  on  the
 Issuance Date thereof, the Applicable Letter of Credit Percentage times  the
 maximum amount of such Letter  of Credit or such  other issuance fee as  the
 Borrower and the Lender shall have agreed upon in writing.

      "Lender" is defined in the preamble to this Agreement.

      "Lending  Installation"  means  any   office,  branch,  subsidiary   or
 affiliate of the Lender.

      "Letter of Credit"  of a Person  means a letter  of credit, or  similar
 instrument which is issued upon the application of such Person or upon which
 such Person is  an account  party or for  which such  Person is  in any  way
 liable.

      "Lien"  means  any  lien   (statutory  or  other),  mortgage,   pledge,
 hypothecation,  filed  financing   statement,  assignment,  encumbrance   or
 preference, priority or other security agreement or preferential arrangement
 of any  kind  or  nature  whatsoever  (including,  without  limitation,  the
 interest of a vendor or lessor under any conditional sale, Capitalized Lease
 or other title retention agreement).

      "Loan" means a loan or any continuation thereof made by Lender pursuant
 to Article II.

      "Loan  Documents"  means  this  Agreement,  the  Notes,  the   Security
 Agreement and any  other documents  and agreements  contemplated hereby  and
 executed by the  Borrower or  a Subsidiary  in favor  of the  Lender or  any
 Lender.

      "Material Adverse Effect" means  a material adverse  effect on (i)  the
 business, Property,  financial condition  or results  of operations  of  the
 Borrower and its  Subsidiaries taken  as a whole,  (ii) the  ability  of the
 Borrower to  perform  its  respective obligations  under  any  of  the  Loan
 Documents, or  (iii) the  validity  or enforceability  of  any of  the  Loan
 Documents or the rights or remedies of the Lender or the Lenders thereunder.

      "Material Indebtedness" is defined in Section 7.5.

      "Multiemployer Plan" means a Plan defined in Section 3(37) of ERISA  to
 which the  Borrower or  any member  of  the Controlled  Group may  have  any
 liability.

      "Net Income" shall  mean, for  any period,  the net  income (or  loss),
 after provision  for  taxes, of  the  Borrower  and its  Subsidiaries  on  a
 consolidated basis for such period taken  as a single accounting period  but
 excluding any unrealized  losses and gains  for such  period resulting  from
 mark-to-market of Rate Hedging Agreements.

      "Net Proceeds" of a sale means the gross proceeds from such sale  minus
 the ordinary and customary  out of pocket costs  paid to third parties  with
 respect to such sale.

      "Note"  means  collectively,   the  Term  Note   and  Revolving   Note,
 substantially in the form of Exhibit B hereto, with appropriate  insertions,
 duly executed and delivered to the Lender by the Borrower and payable to the
 order of Lender in  the amount of its  Commitment, including any  amendment,
 modification, renewal or replacement of such promissory notes.

      "Non-stock Item" is an  item of Inventory that  is so customized for  a
 particular anticipated purchaser that it  would not generally be  marketable
 to Persons other than such purchaser.

      "Obligations" means  all unpaid  principal of  and accrued  and  unpaid
 interest on the Loans,  all accrued and unpaid  fees arising under the  Loan
 Documents,  all  Facility  Letter   of  Credit  Obligations,  Rate   Hedging
 Obligations,  and  all  expenses,  reimbursements,  indemnities  and   other
 obligations of the Borrower to the Lender or any indemnified party hereunder
 arising under the Loan Documents or under any Rate Hedging Agreement.

      "Operating Cash Flow" for a given period means EBITDA less Consolidated
 Capital Expenditures, measured to date and annualized before March 31,  2001
 and thereafter  measured  for  the  immediately  preceding  trailing  twelve
 months.

      "Operating Lease" of a Person means any lease of Property (other than a
 Capitalized Lease)  by such  Person as  lessee which  has an  original  term
 (including any required renewals effective at  the option of the lessor)  of
 one year or more.

      "Other Taxes" is defined in Section 3.3(ii).

      "Participants" is defined in Section 12.2.1.

      "Payment Date" means  the last Business  Day of  each month  commencing
 August 31, 2001, and ending on the later to occur of the Revolving  Facility
 Termination Date and the Term Facility Termination Date.

      "PBGC" means the Pension Benefit Guaranty Corporation, or any successor
 thereto.

      "Permitted Lien" is defined in Section 6.16.

      "Person" means  any  natural  person,  corporation,  limited  liability
 company, firm, joint venture, partnership, association, enterprise, trust or
 other entity or organization, or any government or political subdivision  or
 any agency, department or instrumentality thereof.

      "Plan" means an employee pension benefit plan which is covered by Title
 IV of ERISA or subject to the minimum funding standards under Section 302 of
 ERISA or Section 412 of the Code as to  which the Borrower or any member  of
 the Controlled Group may have any liability.

      "Prepayment Date" is defined in Section 2.4.1.

      "Pricing Schedule"  means the  Schedule attached  hereto identified  as
 such.

      "Prime Rate" means a  rate per annum  equal to the  prime rate or  base
 rate of interest announced by Lender from time to time, changing when and as
 said corporate base rate changes.  Any  change in the Prime Rate shall  take
 effect at the opening of business on the date specified in the  announcement
 of such change.  The Prime Rate is a reference rate and does not necessarily
 represent the lowest or best rate actually charged to any customer.   Lender
 may make commercial loans or other loans  at rates of interest at, above  or
 below the Prime Rate.

      "Property" of  a  Person means  any  and all  property,  whether  real,
 personal, tangible, intangible, or  mixed, of such  Person, or other  assets
 owned, leased or operated by such Person.

      "Rate Hedging  Agreement" means  an  agreement, device  or  arrangement
 providing for payments which are related to fluctuations of interest  rates,
 exchange rates or  forward  rates.  including, but not  limited to,  dollar-
 denominated or  cross-currency interest  rate exchange  agreements,  forward
 currency  exchange  agreements,  interest  rate  cap  or  collar  protection
 agreements, forward  rate  currency  or  interest  rate  options,  puts  and
 warrants.

      "Rate Hedging Obligations" of a Person means any and all obligations of
 such Person, whether  absolute or  contingent and  howsoever and  whensoever
 created, arising, evidenced or acquired (including all renewals,  extensions
 and modifications thereof and substitutions therefor), under (i) any and all
 Rate Hedging  Agreements, and  (ii) any  and all  cancellations, buy  backs,
 reversals, terminations or assignments of any Rate Hedging Agreement.

      "Regulation D" means  Regulation D  of the  Board of  Governors of  the
 Federal Reserve System  as from  time to time  in effect  and any  successor
 thereto or  other regulation  or official  interpretation of  said Board  of
 Governors relating to reserve requirements applicable to member banks of the
 Federal Reserve System.

      "Regulation U" means  Regulation U  of the  Board of  Governors of  the
 Federal Reserve System as from time to  time in effect and any successor  or
 other regulation  or  official interpretation  of  said Board  of  Governors
 relating to the extension of credit  by banks for the purpose of  purchasing
 or carrying margin stocks applicable to member banks of the Federal  Reserve
 System.

      "Reimbursement Obligations" means,  at any time,  the aggregate of  the
 obligations of the  Borrower to the  Lender in respect  of all  unreimbursed
 payments or disbursements made by the Lender under or in respect of drawings
 or payments otherwise under the Facility Letters of Credit.

      "Rent" of a  Person means for  any given period  the aggregate  amounts
 paid by such Person under all Operating Leases.

      "Rentals" of a Person means the aggregate fixed amounts payable by such
 Person under any Operating Lease.

      "Reportable Event" means a reportable event as defined in Section  4043
 of ERISA and the  regulations issued under such  section, with respect to  a
 Plan, excluding, however,  such events as  to which the  PBGC by  regulation
 waived the  requirement of  Section 4043(a)  of ERISA  that it  be  notified
 within 30 days of  the occurrence of such  event, provided, however, that  a
 failure to meet the minimum funding standard of Section 412 of the Code  and
 of Section  302 of  ERISA shall  be  a Reportable  Event regardless  of  the
 issuance of any  such waiver of  the notice requirement  in accordance  with
 either Section 4043(a) of ERISA or Section 412(d) of the Code.

      "Reserve Requirement"  means, with  respect  to a  Eurodollar  Interest
 Period, the  maximum aggregate  reserve  requirement (including  all  basic,
 supplemental, marginal and other reserves) which is imposed under Regulation
 D on Eurocurrency liabilities.

      "Revolving Advance"  means  an  Advance under  the  Revolving  Facility
 pursuant to Section 2.1.1.

      "Revolving Facility Termination Date"  means with respect to  Revolving
 Advances and Facility Letter of Credit  Obligations, August 31, 2003 or  any
 earlier date on which the Aggregate Revolving Commitment is reduced to  zero
 or otherwise terminated pursuant to the terms hereof.

      "Revolving Note" is defined in Section 2.1.4.

      "Risk-Based  Capital  Guidelines"  means  (i)  the  risk-based  capital
 guidelines in effect  in the United  States on the  date of this  Agreement,
 including transition rules, and  (ii) the corresponding capital  regulations
 promulgated by regulatory authorities outside the United States implementing
 the July  1988 report  of  the Basle  Committee  on Banking  Regulation  and
 Supervisory  Practices  Entitled   "International  Convergence  of   Capital
 Measurements and  Capital Standards,"  including transition  rules, and  any
 amendments to such regulations adopted prior to the date of this Agreement.

      "Schedule of Accounts" means an  aged trial balance and  reconciliation
 to the  Borrowing Base  in form  and substance  satisfactory to  the  Lender
 (which may at the Lender's discretion  include copies of original  invoices)
 listing the Borrower's and  its Subsidiaries' Accounts,  to be delivered  to
 the Lender by the Borrower and its Subsidiaries pursuant to Section 6.1(iv).

      "Schedule  of  Inventory"  means  a  schedule  in  form  and  substance
 satisfactory to  the Lender  listing the  Borrower's and  its  Subsidiaries'
 Inventory, to be delivered to the Lender by the Borrower pursuant to Section
 6.1(iv), describing such Inventory by category, age and type.

      "Schedule of  Payables" means  a detailed  aged  schedule in  form  and
 substance  satisfactory  to  the  Lender  listing  the  Borrower's  and  its
 Subsidiaries' accounts payable, to  be delivered on a  monthly basis to  the
 Lender by the Borrower pursuant to Section 6.1(iv).

      "SEC" means  the  Securities and  Exchange  Commission, or  any  Person
 succeeding to any of its principal functions.

      "Section" means a  numbered section of  this Agreement, unless  another
 document is specifically referenced.

      "Security  Agreements"  means  the  Security  Agreement  and  Financing
 Statement to be  delivered to Lender  by the Borrower  substantially in  the
 form of Exhibit C hereto.

      "Single Employer Plan" means a Plan  maintained by the Borrower or  any
 member of the Controlled Group for  employees of the Borrower or any  member
 of the Controlled Group.

      "Standby Letter of Credit" means any Facility Letter of Credit that  is
 a standby Letter of Credit.

      "Stock Pledge  Agreement"  means  the  agreement  to  be  delivered  by
 Borrower to Lender in the form of Exhibit G hereto.

      "Subordinated Debt" means  any unsecured Indebtedness  of the  Borrower
 (a) no part of the principal of which is stated to be payable or is required
 to be paid (whether by way of mandatory sinking fund, mandatory  redemption,
 mandatory prepayment  or otherwise)  prior to  the  later of  the  Revolving
 Facility Termination Date  or the Term  Facility Termination  Date, and  the
 payment of the principal of and  interest on which and other obligations  of
 the Borrower in  respect thereof are  subordinated to the  prior payment  in
 full of principal of and interest (including post-petition interest) on  the
 Notes and  all other  obligations and  liabilities of  the Borrower  to  the
 Lender and the Lenders hereunder on  terms and conditions first approved  in
 writing  by  the  Required  Lenders  and  (b)  otherwise  containing  terms,
 covenants and conditions satisfactory in form and substance to the  Required
 Lenders, as evidenced  by their  prior written  approval thereof,  including
 without limitation the Indebtedness evidenced by the Subordinated Notes.

      "Subordinated  Notes"   means   collectively   all   notes   evidencing
 Subordinated  Debt   whether  now   existing   or  hereafter   arising   and
 substitutions or replacements therefor.

      "Subsidiary" of any Person means (i)  any corporation more than 50%  of
 whose stock of  any class or  classes having by  the terms thereof  ordinary
 voting power  to elect  a  majority of  the  directors of  such  corporation
 (irrespective of whether or not at the time stock of any class or classes of
 such corporation shall  have or  might have voting  power by  reason of  the
 happening of any contingency) is at  the time owned by such Person  directly
 or indirectly  through Subsidiaries  and (ii)  any partnership,  association
 (including business  trusts), joint  venture, limited  liability company  or
 other  entity  in   which  such  Person   directly  or  indirectly   through
 Subsidiaries, has more than 50% voting or equity interest at the time.

      "Substantial Portion"  means,  with  respect to  the  Property  of  the
 Borrower and its Subsidiaries, Property which (i) represents more than  five
 percent (5%) of the consolidated assets of the Borrower and its Subsidiaries
 as at the last day of  the calendar month ending  on or most recently  ended
 prior to  the  date  on  which  such  determination  is  made,  or  (ii)  is
 responsible for more than five percent (5%) of the consolidated net sales or
 of the consolidated net income of the Borrower and its Subsidiaries for  the
 period of  twelve complete  consecutive calendar  months ending  on or  most
 recently ended prior to the date on which such determination is made.

      "Tangible Net Worth" means at any time, Borrower's and its Subsidiaries
 consolidated (a)  Total  Assets  minus  (b)  Total  Liabilities,  Intangible
 Assets, notes receivable from Affiliate  and prepaid expenses, all  computed
 in accordance with GAAP.

      "Taxes" means  any and  all present  or future  taxes, duties,  levies,
 imposts, deductions, charges  or withholdings, and  any and all  liabilities
 with respect to the foregoing, but excluding Excluded Taxes.

      "Term Commitment" means $4,700,000.

      "Term Facility Termination Date" means the  earlier of (i) the date  on
 which all Obligations  become due and  payable under Section  8.1 hereof  or
 (ii) August 31, 2003.

      "Term Loan" is defined in Section 2.1.2.

      "Term Note" is defined in Section 2.1.4.

      "Total Assets" means  Borrower's and  Subsidiaries' consolidated  total
 assets calculated in accordance with GAAP.

      "Total Liabilities" means Borrower's and its Subsidiaries' consolidated
 total liabilities calculated in accordance with GAAP.

      "Transferee" is defined in Section 12.4.

      "Type" means with respect to any Advance, its nature as a Floating Rate
 Advance or a Eurodollar Advance.

      "Unfunded Liabilities" means the amount (if  any) by which the  present
 value of all vested and unvested accrued benefits under all Single  Employer
 Plans exceeds the  fair market value  of all such  Plan assets allocable  to
 such benefits, all determined as of the then most recent valuation date  for
 such Plans as if such Plans were terminating on such date under Section 4041
 of ERISA.

      "Unmatured Default" means an event which  but for the lapse of time  or
 the giving of notice, or both, would constitute a Default.

      "WEA" means Wells Eastern Asia Displays, a Malaysian corporation.

      "Wholly-Owned Subsidiary" of a Person means  (i) any Subsidiary all  of
 the outstanding voting  securities of which  shall at the  time be owned  or
 controlled, directly or indirectly,  by such Person or  one or more  Wholly-
 Owned Subsidiaries of such Person, or by such Person and one or more Wholly-
 Owned Subsidiaries of  such Person,  or (ii)  any partnership,  association,
 joint venture  or  similar  business  organization  100%  of  the  ownership
 interests having ordinary  voting power  of which shall  at the  time be  so
 owned or controlled.

      1.2  Other Interpretive Provisions.

           (a)  The meanings of defined terms  are equally applicable to  the
 singular and plural forms of the defined terms.

           (b)  The words "hereof", "herein",  "hereunder" and similar  words
 refer to this Agreement as  a whole and not  to any particular provision  of
 this Agreement, and subsection, Section, Schedule and Exhibit references are
 to this Agreement unless otherwise specified.

           (c)  Error! Bookmark not defined.  The term  "documents"  includes
 any and all  instruments, documents,  agreements, certificates,  indentures,
 notices and other writings, however evidenced.

                (i)  The  term  "including"   is  not   limiting  and   means
           "including without limitation."

                (ii) In the computation of periods  of time from a  specified
           date to a later  specified date, the word  "from" means "from  and
           including";  the  words  "to"  and  "until"  each  mean  "to   but
           excluding", and the word "through" means "to and including."

                (iii)     The term "property" includes  any kind of  property
           or asset, real, personal or mixed, tangible or intangible.

           (d)  Unless otherwise expressly provided herein, (i) references to
 agreements (including  this  Agreement) and  other  contractual  instruments
 shall be deemed to include all subsequent amendments and other modifications
 thereto, but only to the extent such amendments and other modifications  are
 not prohibited by the terms of any Loan Document, and (ii) references to any
 statute or regulation  are to be  construed as including  all statutory  and
 regulatory provisions consolidating,  amending, replacing, supplementing  or
 interpreting the statute or regulation.

           (e)  The  captions  and  headings   of  this  Agreement  are   for
 convenience of reference  only and shall  not affect  the interpretation  of
 this Agreement.

           (f)  This Agreement  and  other  Loan Documents  may  use  several
 different limitations, tests or measurements to regulate the same or similar
 matters.  All such  limitations, tests and  measurements are cumulative  and
 shall each be performed  in accordance with their  terms.  Unless  otherwise
 expressly provided, any reference to any action of the Lender or the Lenders
 by way of consent, approval or waiver shall be deemed modified by the phrase
 "in its/their sole discretion."

           (g)  This Agreement and the other Loan Documents are the result of
 negotiations between and  have been reviewed  by counsel to  the Lender  and
 Borrower and are the products of  all parties.  Accordingly, they shall  not
 be construed against the Lender merely  because of the Lender's  involvement
 in their preparation.

      1.3  Accounting Principles.  Error! Bookmark  not defined.  Unless  the
 context otherwise  clearly  requires,  all accounting  terms  not  expressly
 defined herein shall be construed,  and all financial computations  required
 under this Agreement shall  be made, in  accordance with GAAP,  consistently
 applied.

           (a)  References herein to "fiscal year" and "fiscal quarter" refer
 to such fiscal periods of the Borrower.

                                  ARTICLE II

                                 THE CREDITS

      2.1  Description of Facility.

           2.1.1     Revolving Facility.  Upon the  terms and subject to  the
 conditions set forth  in this  Agreement, the  Lender hereby  grants to  the
 Borrower a  revolving  credit  facility  pursuant  to  which  prior  to  the
 Revolving Facility Termination Date:   (i) Lender  agrees to make  Revolving
 Advances to the  Borrower in accordance  with Section 2.2;  and (ii)  Lender
 agrees to issue Facility Letters of  Credit in accordance with Section  2.3;
 provided, however,  that  in no  event  may the  sum  of (1)  the  aggregate
 principal amount of all outstanding Revolving Advances and (2) the  Facility
 Letter of Credit Obligations exceed the Aggregate Revolving Commitment.

           2.1.2     Term  Facility.    Lender  agrees,  on  the  terms   and
 conditions set forth herein,  to make a single  loan to the Borrower  ("Term
 Loan") on the Closing Date in an  amount not to exceed the Term  Commitment.
 Amounts borrowed upon the Term Loan which are repaid by the Borrower or from
 any other source may not be reborrowed.

           2.1.3     Use of Proceeds.  The proceeds of the Revolving Advances
 and the Term Loan will be  used solely to refinance the Borrower's  existing
 Indebtedness to Lender and for Borrower's general business purposes.

           2.1.4     Notes Evidencing Loans.

           (a)  The Revolving Loans shall be  evidenced by a promissory  note
 (herein, as the same may be  amended, modified or supplemented from time  to
 time, and together with any renewals  thereof or exchanges or  substitutions
 therefor, called the "Revolving Note"), substantially in the form set  forth
 in Exhibit B, with appropriate insertions, dated  the Closing Date (or  such
 other date prior thereto as shall be satisfactory to the Lender), payable to
 the order  of the  Lender in  the principal  amount of  $12,000,000, or  the
 aggregate unpaid principal amount of all Revolving Loans, whichever is less.
 The date and amount of each  Revolving Loan made by  the Lender and of  each
 repayment of principal thereon received by  the Lender shall be recorded  by
 the Lender in its records or, at its  option, on a schedule attached to  the
 Revolving Note.  The aggregate unpaid principal amount so recorded shall  be
 presumptive evidence  of  the  principal amount  owing  and  unpaid  on  the
 Revolving Note.  The failure so to record any such amount or any error in so
 recording any such amount, however, shall not limit or otherwise affect  the
 Borrower's obligations hereunder or  under the Revolving  Note to repay  the
 principal amount of the Revolving Loans together with all interest  accruing
 thereon.

           (b)  The Term Loan shall be evidenced  by a term note (herein,  as
 amended, modified or supplemented from time  to time, and together with  any
 renewals thereof or  exchanges or substitutions  therefor, called the  "Term
 Note"), substantially in the form set  forth in Exhibit B, with  appropriate
 insertions, dated the Closing  Date, payable to the  order of the Lender  in
 the original principal  amount of  the Term  Loan.   The Term  Note will  be
 payable in monthly principal  installments of (i)  $80,000 plus accrued  and
 unpaid interest, commencing on the last Business Day of September, 2001  and
 on the last  Business Day  of each  and every  consecutive month  thereafter
 through December 31, 2001, and (ii) $100,000 commencing on the last Business
 Day of  January, 2002,  and on  the  last Business  Day  of each  and  every
 consecutive month  thereafter,  together with  a  final installment  of  any
 amount then outstanding, payable on August 31, 2003.

      2.2  Advances.

           2.2.1     Commitment.    From  and  including  the  date  of  this
 Agreement and  prior  to the  Revolving  Facility Termination  Date,  Lender
 agrees, on the  terms and conditions  set forth in  this Agreement, to  make
 Loans to the  Borrower from time  to time in  amounts not to  exceed in  the
 aggregate at any one time outstanding  (after giving effect to the  intended
 use of proceeds  of any  Loan used  to repay  any outstanding  Reimbursement
 Obligations) the amount of the Borrowing Base.  Subject to the terms of this
 Agreement, the Borrower may borrow,  repay, and reborrow Revolving  Advances
 only from Lender  at any time  prior to the  Revolving Facility  Termination
 Date.   The Commitment  of Lender  to  lend hereunder  shall expire  on  the
 Revolving Facility Termination Date.

           2.2.2     Termination.  All  outstanding Revolving Advances  owing
 to Lender shall be paid  in full by the  Borrower on the Revolving  Facility
 Termination Date.  All outstanding Term Loans owing to Lender shall be  paid
 in full by the Borrower  on the Term Facility  Termination Date.  All  other
 unpaid Obligations owing to Lender  shall be paid on  the later to occur  of
 the Revolving Facility  Termination Date and  the Term Facility  Termination
 Date.

           2.2.3     Types of  Advances.    The  Revolving  Advances  may  be
 Floating Rate  Advances or  Eurodollar Advances,  or a  combination  thereof
 (unless Level III Status or Level IV Status is in existence, in which  event
 Revolving Advances shall be  Floating Rate Advances  only), selected by  the
 Borrower in accordance with Sections 2.2.5  and 2.2.6.  The Term Loan  shall
 be a Floating Rate Advance.

           2.2.4     Minimum Amount of Each Advance.  Each Eurodollar Advance
 shall be in the minimum amount of $100,000 (and in multiples of $100,000  if
 in excess thereof) and each Floating Advance shall be in the minimum  amount
 of $10,000 (and  in multiples of  $10,000 if in  excess thereof);  provided,
 however, that  any Advance  may be  in the  amount of  the unused  Aggregate
 Available Revolving  Commitment  should the  Aggregate  Available  Revolving
 Commitment be less than $100,000.

           2.2.5     Method of Selecting Types  and Interest Periods for  New
 Advances.  The Borrower shall select the Type of Advance and, in the case of
 each Eurodollar Advance, the Interest Period applicable thereto from time to
 time. The Borrower shall  give the Lender  irrevocable notice (a  "Borrowing
 Notice") not later than 10:00 a.m.  (Chicago time) on the Borrowing Date  of
 each Floating Rate Advance and three Business Days before the Borrowing Date
 for each Eurodollar Advance, specifying:

                (i)  the Borrowing Date,  which shall be  a Business Day,  of
                     such Advance,

                (ii) the aggregate amount of such Advance,

                (iii) the Type of Advance selected, and

                (iv) in the  case of  each Eurodollar  Advance, the  Interest
                     Period applicable thereto.

 Not later than noon (Chicago time) on each Borrowing Date, Lender shall make
 available its Loan or Loans in funds immediately available in Chicago to the
 Borrower at Lender's address specified pursuant to Article XIII.

           2.2.6     Conversion and  Continuation  of  Outstanding  Advances.
 Floating Rate Advances shall continue as  Floating Rate Advances unless  and
 until such Floating  Rate Advances  are converted  into Eurodollar  Advances
 pursuant to this  Section 2.2.6  or are  repaid in  accordance with  Section
 2.3.6.  Each Eurodollar Advance shall continue as a Eurodollar Advance until
 the end of the then applicable Interest Period therefor, at which time  such
 Eurodollar Advance shall  be automatically  converted into  a Floating  Rate
 Advance unless (x) such  Eurodollar Advance is or  was repaid in  accordance
 with Section  2.3.6  or (y)  the  Borrower shall  have  given the  Lender  a
 Conversion/Continuation Notice (as  defined below) requesting  that, at  the
 end  of  such  Interest  Period,  such  Eurodollar  Advance  continue  as  a
 Eurodollar Advance for the same or  another Interest Period. Subject to  the
 terms of Section 2.2.5, the Borrower may elect from time to time to  convert
 all or any part of a Floating Rate  Advance into a Eurodollar Advance.   The
 Borrower    shall    give     the    Lender     irrevocable    notice     (a
 "Conversion/Continuation Notice")  of each  conversion  of a  Floating  Rate
 Advance into a Eurodollar  Advance or continuation  of a Eurodollar  Advance
 not later than 10:00 a.m. (Chicago time) at least three Business Days  prior
 to the date of the requested conversion or continuation, specifying:

                (i)  the requested date,  which shall be  a Business Day,  of
           such conversion or continuation,

                (ii) the aggregate amount and Type of the Advance which is to
           be converted or continued, and

                (iii)     the amount of such Advance which is to be converted
           into or continued as a Eurodollar Advance and the duration of  the
           Interest Period applicable thereto.

      2.3  Facility Letters of Credit.

           2.3.1     Obligation to Issue.   From  and including  the date  of
 this Agreement and prior to the Business Day prior to the Revolving Facility
 Termination Date, the Lender agrees, on  the terms and conditions set  forth
 in this Agreement, to issue for the account  of the Borrower or one or  more
 of its Subsidiaries, one or more  Letters of Credit not exceeding either  of
 the limits stated in Sections 2.1.1 and 2.3.2(iv).

           2.3.2     Types and  Amounts.    The Lender  shall  not  have  any
 obligation to and shall not:

                (i)  issue any  Facility Letter  of Credit  if the  aggregate
           maximum amount then available  for drawing under Facility  Letters
           of Credit  issued  by  the Lender,  after  giving  effect  to  the
           Facility Letter of  Credit requested hereunder,  shall exceed  any
           limit imposed by law or regulation upon the Lender;

                (ii) issue any  Facility Letter  of Credit  if, after  giving
           effect thereto,  the sum  of (a)  the  Facility Letter  of  Credit
           Obligations and (b) the aggregate unpaid principal balance of  the
           Revolving  Advances   would   exceed   the   Aggregate   Revolving
           Commitment;

                (iii)     issue any Facility  Letter of Credit  which has  an
           expiry date (a) later than twelve  months after the Issuance  Date
           thereof or (b) after the Facility Termination Date; or

                (iv) issue any  Facility Letter  of Credit  if, after  giving
           effect to such Facility Letter of Credit requested hereunder,  the
           Facility Letter of Credit  Obligations would exceed $2,000,000  in
           the aggregate.

           2.3.3     Conditions.    In  addition  to  being  subject  to  the
 satisfaction of  the  conditions contained  in  Sections 4.1  and  4.2,  the
 obligation of the Lender to issue  any Facility Letter of Credit is  subject
 to the satisfaction in full of each of the following conditions:

                (i)  the Borrower shall have delivered to the Lender at  such
           times and in such  manner as the  Lender may reasonably  prescribe
           such documents and materials  as may be  required pursuant to  the
           terms of  the  requested  Facility  Letter  of  Credit  (it  being
           understood that if any  inconsistency exists between the  Lender's
           Facility Letter of  Credit documents and  the Loan Documents,  the
           terms of  the Loan  Documents shall  govern and  control) and  the
           requested  Facility   Letter  of   Credit  shall   be   reasonably
           satisfactory to the Lender as to form and content; and

                (ii) as of the Issuance Date, no order, judgment or decree of
           any court, arbitrator or  governmental authority shall purport  by
           its terms  to  enjoin or  restrain  the Lender  from  issuing  the
           requested Facility Letter of Credit and no law, rule or regulation
           applicable to the Lender and no  request or directive (whether  or
           not having the force of law) from any governmental authority  with
           jurisdiction over the  Lender shall prohibit  or request that  the
           Lender refrain from the issuance of Letters of Credit generally or
           the issuance  of  such  requested Facility  Letter  of  Credit  in
           particular.

           2.3.4     Procedure for Issuance of Facility Letters of Credit.

           (a)  The Borrower shall give the  Lender written notice not  later
 than noon (Chicago time)  at least three Business  Days before the  Issuance
 Date of any requested Facility Letter of Credit (each a "Facility Letter  of
 Credit Request") (except that, in lieu of such written notice, the  Borrower
 may give the Lender notice of such  request by tested telex or other  tested
 arrangement satisfactory to  the Lender).   Such Facility  Letter of  Credit
 Request shall be irrevocable and shall specify:

           (1)  the stated  amount  of  such  requested  Facility  Letter  of
                Credit;

           (2)  the Issuance Date (which day shall be a Business Day);

           (3)  the date on which such requested Facility Letter of Credit is
                to expire (which date shall be a Business Day and shall in no
                event be  later  than  either (i)  twelve  months  after  its
                Issuance Date  or  (ii) the  Revolving  Facility  Termination
                Date);

           (4)  the purpose for which such Facility Letter of Credit is to be
                issued;

           (5)  the Person for whose benefit the requested Facility Letter of
                Credit is to be issued; and

           (6)  whether the requested  Facility Letter  of Credit  will be  a
                Commercial Letter of Credit or a Standby Letter of Credit.

 Prior to  the issuance  of  the requested  Facility  Letter of  Credit,  the
 Borrower shall provide the Lender  with a copy of  the form of the  Facility
 Letter of Credit it is requesting to be issued.

           (b)  Subject to the terms and conditions of this Section 2.3.4 and
 provided that the applicable  conditions set forth in  Sections 4.1 (in  the
 case of the  initial Facility  Letter of Credit),  4.2 and  2.3.3 have  been
 satisfied, the  Lender  shall, on  the  applicable Issuance  Date,  issue  a
 Facility Letter of Credit on behalf  of the Borrower in accordance with  the
 Lender's usual and customary business practices.

           (c)  The Lender shall not extend or  amend any Facility Letter  of
 Credit unless the requirements of Sections 2.3.2 and 2.3.4 are met.

           2.3.5     Reimbursement Obligations.

           (a)  Error! Bookmark not defined.  The   Lender   shall   promptly
           notify the  Borrower  of  any draw  or  other  payment  under  any
           Facility Letter  of  Credit.   The  Borrower shall  reimburse  the
           Lender for drawings under any such  Letters of Credit or  payments
           under Bankers Acceptances (including  the Lender's issuing  costs)
           no later than  the Business Day  after the payment  in respect  of
           such Facility  Letter  of  Credit by  the  Lender,  together  with
           interest thereon at the Prime Rate plus 2% per annum from the date
           of payment on such Facility Letter of Credit by the Lender to  and
           including the  date on  which the  Lender is  reimbursed for  such
           payment by the Borrower.

                (i)  Any  Reimbursement  Obligation   with  respect  to   any
           Facility Letter of Credit which is  not paid on the date when  due
           in accordance  with  Section 2.3.5(a)(i)  shall  (A) if  there  is
           availability for such  an Advance  pursuant to  Section 2.1.1,  be
           automatically converted on such date into a Revolving Advance  and
           shall bear interest  at the Floating  Rate or (B)  if there is  no
           availability for an Advance pursuant to Section 2.1.1, be  payable
           on demand and bear interest until  paid at a rate per annum  equal
           to the sum of (a) the Prime Rate plus (b) 3% per annum.

           (b)  Any action taken or omitted to  be taken by the Lender  under
 or in connection with any Facility Letter of Credit, if taken or omitted  in
 the absence of  willful misconduct or  gross negligence, shall  not put  the
 Lender under any  resulting liability to  any Lender or,  assuming that  the
 Lender has complied with  the procedures specified  in Section 2.3.4(b)  and
 such Lender has  not given a  notice contemplated by  Section 2.3.6(a)  that
 continues in full force and effect,  relieve such Lender of its  obligations
 hereunder to the Lender.  In  determining whether to pay under any  Facility
 Letter of  Credit, the  Lender  shall have  no  obligation relative  to  the
 Borrower other than to confirm that  any documents required to be  delivered
 under such Facility Letter of Credit appear to comply on their face with the
 requirements of such Facility Letter of Credit.

           2.3.6     [Intentionally Omitted]

           2.3.7     Payment of Reimbursement Obligations.

           (a)  The Borrower agrees to  pay to the Lender  the amount of  all
 Reimbursement Obligations, interest and other amounts payable to the  Lender
 under or in connection with each Facility Letter of Credit immediately  when
 due, irrespective of any  claim, set-off, defense or  other right which  the
 Borrower or any  Subsidiary may  have at any  time against  the Lender,  the
 Lender or  any  other Person,  under  all circumstances,  including  without
 limitation, any of the following circumstances:

                (i)  any lack of validity or enforceability of this Agreement
           or any of the other Loan Documents;

                (ii) the existence  of any  claim, setoff,  defense or  other
           right which the Borrower  or any Subsidiary may  have at any  time
           against a beneficiary named in a Facility Letter of Credit or  any
           transferee of any  Facility Letter of  Credit (or  any Person  for
           whom any such transferee may be  acting), the Lender, any  Lender,
           or any other  Person, whether in  connection with this  Agreement,
           any Facility  Letter  of  Credit,  the  transactions  contemplated
           herein or  any unrelated  transactions (including  any  underlying
           transactions between  the  Borrower  or  any  Subsidiary  and  the
           beneficiary named in any Facility Letter of Credit);

                (iii)     any  draft,  certificate  or  any  other   document
           presented under  the  Facility  Letter of  Credit  proving  to  be
           forged, fraudulent, invalid or insufficient in any respect or  any
           statement therein being untrue or inaccurate in any respect;

                (iv) the surrender  or impairment  of  any security  for  the
           performance or observance of any of  the terms of any of the  Loan
           Documents;

                (v)  the occurrence of any Default or Unmatured Default.

           (b)  In the event any  payment by the  Borrower or any  Subsidiary
 received by  the Lender  with respect  to  a Facility  Letter of  Credit  is
 thereafter set aside, avoided or recovered from the Lender for any reason or
 under any circumstances including without limitation, in connection with any
 receivership, liquidation,  reorganization  or bankruptcy  proceeding,  such
 amount shall immediately become  a Reimbursement Obligation immediately  due
 and payable to Lender from Borrower.

           2.3.8     Compensation for Facility Letters  of Credit.   Borrower
 shall pay to the  Lender on or before  the Issuance Date  of each Letter  of
 Credit (or such later date as the Borrower and such Lender shall agree  upon
 in writing), and shall  also pay from time  to time Lender's reasonable  and
 customary costs  of, and  fees for,  issuing and  servicing such  Letter  of
 Credit.

           2.3.9     Facility Letter  of  Credit  Collateral  Account.    The
 Borrower hereby agrees that it will, until the final expiration date of  any
 Facility Letter of Credit and thereafter  as long as any Facility Letter  of
 Credit Obligation  is outstanding  or payable  to  the Lenders,  maintain  a
 special cash collateral account (the  "Facility Letter of Credit  Collateral
 Account") at  the  Lender's office  at  the address  specified  pursuant  to
 Article XIII, in the name  of the Borrower but  under the sole dominion  and
 control of  the Lender,  for the  benefit of  the Lender  and in  which  the
 Borrower shall have  no interest  other than as  set forth  in Section  8.1.
 Upon demand of the Lender after (a) an Event of Default has occurred and  is
 continuing, (b) the Maturity Date, or (c) any time the Lender determines  it
 does not have adequate collateral, the Borrower shall deposit funds into the
 Facility Letter  of  Credit Collateral  Account  up  to the  amount  of  the
 Facility Letter  of  Credit Obligations  in  existence from  time  to  time.
 Nothing in this Section  2.3.9 shall either obligate  the Lender to  require
 the Borrower  to  deposit  any  funds  in  the  Facility  Letter  of  Credit
 Collateral Account or  limit the right  of the Lender  to release any  funds
 held in  the Facility  Letter of  Credit Collateral  Account other  than  as
 required by Section 8.1.

      2.4  General Facility Terms.

           2.4.1     Fees; Reductions in Aggregate Commitment.

           2.4.1.1   Fees.  The Borrower agrees to pay to the Lender the
           following fees:

                (i)  Closing Fee.   On the Closing  Date, the Borrower  shall
           pay to  the  Lender  a one  time  non-refundable  closing  fee  of
           $50,000.

                (ii) Commitment Fee.   A  nonrefundable quarterly  commitment
           fee equal to the product of  the figure designated on the  Pricing
           Schedule as  the Applicable  Fee Rate  and  (b) the  average  non-
           utilized portion of the Aggregate Revolving Commitment during such
           quarter, which  commitment  fee  shall be  deemed  earned  in  its
           entirety on the  date of  this Agreement  (the "Commitment  Fee").
           The Commitment  Fee  shall  be payable  quarterly  in  arrears  on
           November 1, 2001 and on the  first Business Day of each  February,
           May,  August  and  November  thereafter  prior  to  the   Facility
           Termination Date  for  Revolving  Advances  with  the  outstanding
           unpaid balance of such  fee due on  the Facility Termination  Date
           for Revolving Advances.

           2.4.1.2   Reductions  in  Aggregate  Revolving  Commitment.    The
 Borrower may permanently reduce the Aggregate Revolving Commitment in whole,
 or in part ratably  among the Lenders in  integral multiples of  $1,000,000,
 upon at  least three  Business Days'  written notice  to the  Lender,  which
 notice shall specify the  amount of any  such reduction, provided,  however,
 that the amount  of the Aggregate  Revolving Commitment may  not be  reduced
 below an amount equal to  the sum of (a)  the aggregate principal amount  of
 the outstanding Revolving Advances plus (b) the outstanding Facility  Letter
 of Credit Obligations.

           2.4.2     Optional   Principal   Payments;   Mandatory   Principal
 Payments.  In addition to funds collected in the Lock Box, the Borrower  may
 from time to time pay all outstanding  Floating Rate Advances, or, pay in  a
 minimum aggregate amount of $300,000 or any integral multiple of $100,000 in
 excess thereof, without penalty or premium,  any portion of the  outstanding
 Floating Rate Advances upon prior notice to the Lender not later than  10:30
 a.m. (Chicago time) at least  one (1) Business Day  before the date of  such
 prepayment.  Notwithstanding anything in this Section 2.4.2 to the contrary,
 (a) if at any time (i) the sum of the aggregate unpaid principal balance  of
 the Advances  plus the  Facility Letter  of Credit  Obligations exceeds  the
 Aggregate Commitment,  or (ii)  the sum  of the  aggregate unpaid  principal
 balance of  the  Revolving  Advances plus  the  Facility  Letter  of  Credit
 Obligations exceeds the Aggregate Revolving Commitment, the Borrower  shall,
 make an  immediate  mandatory  payment  on  the  Advances  and/or  Revolving
 Advances equal to such  excess; (b) if Borrower  or any of its  Subsidiaries
 sell one or  more assets  having an aggregate  value in  excess of  $100,000
 (except for  the sale  of  Inventory in  the  ordinary course  of  business)
 Borrower shall make an immediate mandatory prepayment upon the Term Loan  in
 the amount of Net Proceeds (less the amount of such Net Proceeds  reinvested
 by Borrower in the purchase of replacement assets which are the same in type
 and use as the assets sold) received by Borrower (or its Subsidiaries as the
 case may be)  from such  sale; (c) if  Borrower or  any Subsidiary  receives
 directly or indirectly Net Proceeds from  the sale or issuance of equity  or
 debt securities of Borrower or any of its Subsidiaries or from  Indebtedness
 for borrowed money incurred  by Borrower or any  of its Subsidiaries  (other
 than Permitted  Indebtedness), Borrower  shall make  an immediate  mandatory
 prepayment upon the Term Loan in the amount of such Net Proceeds received by
 Borrower (or its Subsidiaries  as the case may  be); and (d) Borrower  shall
 make the mandatory prepayments stated in Section 2.4.10.

           2.4.3     Changes in  Interest  Rate,  etc.   Each  Floating  Rate
 Advance shall bear interest on the outstanding principal amount thereof, for
 each  day  from  and  including  the  date  such  Advance  is  made  or   is
 automatically converted  from  a Eurodollar  Advance  into a  Floating  Rate
 Advance pursuant to Section 2.2.7, to but  excluding the date it is paid  or
 is converted into a Eurodollar Advance pursuant to Section 2.2.7 hereof,  at
 a rate per annum  equal to the Floating  Rate for such  day. Changes in  the
 rate of interest  on that portion  of any Advance  maintained as a  Floating
 Rate Advance will take  effect simultaneously with each  change in the  Base
 Rate. Each  Eurodollar  Advance  shall  bear  interest  on  the  outstanding
 principal amount thereof from  and including the first  day of the  Interest
 Period applicable  thereto to  (but  not including)  the  last day  of  such
 Interest Period at the interest rate determined by the Lender as  applicable
 to such  Eurodollar  Advance  based upon  the  Borrower's  selections  under
 Sections 2.2.6 and 2.2.7 and otherwise in accordance with the terms  hereof.
 No Interest Period may end after the Facility Termination Date.

           2.4.4     Rates Applicable After Default.  During the  continuance
 of a Default, each Advance shall bear interest at a rate per annum equal  to
 the rate otherwise applicable to the  Advance plus, to the extent  permitted
 by law, 3% per annum.

           2.4.5     Method of  Payment.   All  payments of  the  Obligations
 hereunder shall  be made,  without setoff,  deduction, or  counterclaim,  in
 immediately available funds to the Lender at the Lender's address  specified
 pursuant to Article XII, or at  any other Lending Institution of the  Lender
 specified in writing by the Lender to  the Borrower, by noon (local time  at
 the relevant  Lending Institution)  on the  date when  due.   The Lender  is
 hereby authorized  to charge  the account  of the  Borrower maintained  with
 Lender for each payment  of principal, interest and  fees as it becomes  due
 hereunder.

           2.4.6     Deposits to the  Borrower's Account.   The Lender  shall
 have the right to deposit all proceeds of the Loans to any of the Borrower's
 accounts with the Lender and shall have the right to charge such account (or
 any other account in the Borrower's  name) for all Obligations due from  and
 payable by the Borrower.

           2.4.7     Collateral and Audits.

           (a)  Payment and performance  of all of  the Obligations shall  be
 secured by the Collateral pursuant to the Security Agreements, and the Stock
 Pledge Agreements.

           (b)  The Borrower  agrees  that  it will,  at  its  sole  expense,
 (i) without any request by the Lender,  immediately deliver, or cause to  be
 delivered to the Lender, in due  form for transfer (e.g., endorsed in  blank
 or accompanied by duly executed blank stock or bond powers), all  securities
 (including  those  hereafter  acquired),  chattel  paper,  instruments   and
 documents of title,  if any,  at any  time representing  all or  any of  the
 Collateral, (ii) without request by the Lender, cause the Lender's  security
 interest under the  Loan Documents  to be  at all  times duly  noted on  any
 certificate of title  issuable with  respect to  any of  the Collateral  and
 forthwith deliver  or  cause  to  be  delivered  to  the  Lender  each  such
 certificate of title provided,  that this section shall  not apply to  motor
 vehicles with a purchase price less  than $50,000 individually and  $200,000
 in the aggregate, and (iii) upon the Lender's request, forthwith execute and
 deliver, or cause to be  executed and delivered to  the Lender, in due  form
 for filing or  recording (the Borrower  hereby agreeing to  pay the cost  of
 filing or recording the same in  all public offices deemed necessary by  the
 Lender), such assignments, security  agreements, mortgages, deeds of  trust,
 pledge agreements, warehouse  receipts, bailee  letters, consents,  waivers,
 financing statements, stock or bond powers and other documents, and do  such
 other acts and things, all  as the Lender may  from time to time  reasonably
 request, to establish  and maintain to  the Lender's  satisfaction a  valid,
 first perfected security interest  in all of  the Borrower's present  and/or
 future assets (free of all other Liens whatsoever except Permitted Liens) to
 secure payment of the Liabilities.   The Borrower hereby irrevocably  makes,
 constitutes and appoints the Lender (and all other persons designated by the
 Lender for  that  purpose) as  the  Borrower's  true and  lawful  agent  and
 attorney-in-fact to  sign  the  Borrower's  name  on  any  such  agreements,
 instruments and documents referred to in  clause (iii) above and to  deliver
 such agreements, instruments and documents to such Persons as the Lender  in
 its sole discretion may elect.

           (c)  At any time  and from  time to time  the Lender  may, in  its
 reasonable discretion, conduct  or have conducted  by a reputable  appraiser
 acting on the  Lender's behalf, at  the Borrower's  expense, appraisals  and
 audits of  the  Collateral;  provided  that  prior  to  the  occurrence  and
 continuance of a Default or an Unmatured Default, such appraisals shall  not
 occur more  than once  annually at  an  aggregate cost  to the  Company  not
 exceeding $5,000.

           2.4.8     Telephonic Notices.  The Borrower hereby authorizes  the
 Lender to extend, or continue Revolving  Advances and to transfer funds  and
 issue Facility Letters of  Credit in each case  based on telephonic  notices
 made by any  Authorized Officer or  Authorized Officers the  Lender in  good
 faith believes to be acting on behalf of the Borrower.  The Borrower  agrees
 to  deliver  promptly  to  the  Lender   a  written  confirmation  if   such
 confirmation is requested by the Lender, of each telephonic notice signed by
 an Authorized Officer.  If the written confirmation differs in any  material
 respect from the action taken by the Lender, the records of the Lender shall
 govern absent manifest error.

           2.4.9     Interest  Payment   Dates;  Interest   and  Fee   Basis.
 Interest accrued on  each Advance  shall be  payable on  each Payment  Date,
 commencing with the first such date to  occur after the date hereof, on  any
 date on  which such  Advance  is prepaid,  whether  due to  acceleration  or
 otherwise, and  at  maturity.   Interest  accrued  on that  portion  of  the
 outstanding principal  amount of  any Advance  optionally prepaid  on a  day
 other than  a  Payment Date,  shall  be payable  on  the Payment  Date  next
 succeeding the date of such prepayment.   Interest on all Advances and  fees
 shall be calculated for actual days elapsed on the basis of a 360-day  year.
 Interest shall be payable for the day an Advance is made but not for the day
 of any payment  on the  amount paid  if payment  is received  prior to  noon
 (local time) at the  place of payment.   If any payment  of principal on  an
 Advance shall become  due on a  day which is  not a Business  Day and,  such
 payment shall be made on the next succeeding Business Day and such extension
 of time shall  be included  in computing  interest in  connection with  such
 payment.

           2.4.10    Principal and  Interest  Payments Upon  The  Term  Loan.
 Commencing September 30, 2001 and on  each Payment Date thereafter  Borrower
 shall pay to Lender in  addition to all interest  and other payments due  on
 such date, the  monthly principal amount  of $80,000.00 upon  the Term  Loan
 with a final installment of any  amount then outstanding due and payable  on
 August 31, 2003.  Interest on the Term Loan shall be calculated based upon a
 five year amortization  with all accrued  interest due and  payable on  each
 Payment Date.  Commencing with (and including) January 15, 2001 and on  each
 July 15th and January 15th thereafter,  the Borrower shall make a  mandatory
 principal prepayment  (the "Excess  Cash Flow  Payments") of  fifty  percent
 (50%) of the  Excess Cash  Flow for the  Borrower's fiscal  six months  just
 ended at the end of the  month immediately preceding each such January  15th
 and July 15th.  Such payments  will be applied to the outstanding  principal
 balance upon the Term Note in inverse order to maturity.

           2.4.11    [INTENTIONALLY OMITTED]

           2.4.12    Lending Institutions. Lender may  book its Loans at  any
 Lending  Institution  selected  by  Lender   and  may  change  its   Lending
 Institution from time to time.  All  terms of this Agreement shall apply  to
 any such Lending Institution  and the Notes shall  be deemed held by  Lender
 for the benefit  of such  Lending Institution.   Lender may,  by written  or
 telex notice to the Borrower, designate a Lending Institution through  which
 Loans will be made by it and for whose account Loan payments are to be made.

           2.4.13    Maintenance  of   Balances   and   Lock   Box   Account.
 Throughout the term of this Agreement the Borrower agrees (i) to utilize the
 Lender as its primary depository and remittance point, (ii) at all times  to
 maintain the  Lock Box  and Lock  Box Account  (as defined  in the  Security
 Agreement) with the Lender and   (iii) in the event depository accounts  for
 collection purposes are maintained with other Persons, to cause such Persons
 to enter blocked  account agreements with  Lender, reasonably acceptable  to
 Lender.

           2.4.14    Service Charges.   The  Borrower acknowledges  that  the
 Bank will charge the Borrower monthly  service charges for various  services
 performed by the  Bank in  connection with  any aspect  of the  relationship
 between the Borrower and  the Bank, and the  Borrower hereby agrees that  if
 such service charge arising in any  month exceed the credit to the  Borrower
 in that month arising  from earnings attributable to  funds on deposit  with
 the Bank in demand deposit accounts, such service charge deficiency shall be
 deducted by the  Bank from  the Borrower's operating  account.   All of  the
 Bank's charges to the Borrower pursuant to this Section 2.4.14 shall be  its
 usual and customary charges to companies of a similar size for services of a
 similar nature.

                                 ARTICLE III

                           CHANGE IN CIRCUMSTANCES

      3.1  Yield Protection.    If any  law  or any  governmental  or  quasi-
 governmental rule, regulation,  policy, guideline or  directive (whether  or
 not having  the  force  of law)  adopted,  enacted,  modified  or  otherwise
 becoming effective after the date hereof, or any interpretation thereof,  or
 the compliance of Lender therewith,

                (i)  subjects Lender or any applicable Lending Institution to
           any tax, duty, charge or withholding on or from payments due  from
           the Borrower (excluding any Excluded Tax), or changes the basis of
           taxation of  payments  to Lender  in  respect of  its  Loans,  the
           Facility Letters of Credit or other amounts due it hereunder, or

                (ii) imposes or increases  or deems  applicable any  reserve,
           assessment,  insurance   charge,   special  deposit   or   similar
           requirement against assets  of, deposits with  or for the  account
           of, or  credit  extended  by, Lender  or  any  applicable  Lending
           Institution  (other  than  reserves  and  assessments  taken  into
           account in determining the interest rate applicable to  Eurodollar
           Advances), or

                (iii)     imposes any other condition the result of which  is
           to  increase  the  cost  to  Lender  or  any  applicable   Lending
           Institution  of   making,   funding,   maintaining,   issuing   or
           participating in loans or Letters of Credit or reduces any  amount
           receivable by  Lender or  any  applicable Lending  Institution  in
           connection with loans or Letters of Credit, or requires Lender  or
           any applicable Lending Institution to make any payment  calculated
           by reference to the amount of loans held, Letters of Credit issued
           or interest  received by  it, in  each case  by an  amount  deemed
           material by Lender,

 then, within 15  days of written  demand by Lender,  the Borrower shall  pay
 Lender that portion of  such increased expense incurred  or reduction in  an
 amount received  which  Lender  reasonably  determines  is  attributable  to
 making, funding and maintaining its Loans and its Commitment; provided that,
 Borrower shall not be obligated to  pay Lender any amount described in  this
 Section to  the  extent such  amount  is incurred  prior  to the  120th  day
 preceding the day on which Borrower  received written demand from Lender  to
 pay such amount, unless  such amount became due  or payable during such  120
 day period and retroactively applies to  a date occurring prior to such  120
 day period, in which case Borrower  shall compensate Lender for such  amount
 pursuant to this Section.

      3.2  Changes in Capital Adequacy Regulations.  If Lender determines the
 amount of  capital required  or expected  to be  maintained by  Lender,  any
 Lending Institution  of  Lender or  any  corporation controlling  Lender  is
 increased as a result of a Change, then, within 15 days of written demand by
 Lender, the Borrower shall pay Lender the amount necessary to compensate for
 any shortfall in the rate of return on the portion of such increased capital
 which Lender determines is attributable to this Agreement, its Loans or  its
 obligation to  make  Loans hereunder  (after  taking into  account  Lender's
 policies as  to capital  adequacy); provided  that,  Borrower shall  not  be
 obligated to pay Lender any amount  described in this Section to the  extent
 such amount is incurred prior  to the 120th day  preceding the day on  which
 Borrower received written demand from Lender to pay such amount, unless such
 amount became due or  payable during such 120  day period and  retroactively
 applies to a  date occurring prior  to such 120  day period,  in which  case
 Borrower shall compensate Lender for such amount pursuant to this Section.

      3.3  Taxes.

                (i)  All payments by the  Borrower to or  for the account  of
           Lender hereunder or under any Note shall be made free and clear of
           and without deduction  for any  and all  Taxes.   If the  Borrower
           shall be required by law to deduct any Taxes from or in respect of
           any sum payable hereunder to Lender, (a) the sum payable shall  be
           increased  as  necessary  so   that  after  making  all   required
           deductions (including  deductions  applicable to  additional  sums
           payable under  this Section  3.3) the  Lender receives  an  amount
           equal to the  sum it would  have received had  no such  deductions
           been made, (b) the  Borrower shall make  such deductions, (c)  the
           Borrower shall  pay  the  full amount  deducted  to  the  relevant
           authority in accordance with applicable  law and (d) the  Borrower
           shall furnish  to  the  Lender the  original  copy  of  a  receipt
           evidencing payment thereof  within 30 days  after such payment  is
           made.

                (ii) In addition,  the  Borrower  hereby agrees  to  pay  any
           present or future stamp or documentary taxes and any other  excise
           or property taxes, charges or similar levies which arise from  any
           payment made hereunder or under any Note or from the execution  or
           delivery of, or otherwise with respect  to, this Agreement or  any
           Note ("Other Taxes").

                (iii)     The Borrower hereby agrees to indemnify the  Lender
           for the full amount  of Taxes or  Other Taxes (including,  without
           limitation, any Taxes  or Other Taxes  imposed on amounts  payable
           under this  Section 3.3)  paid by  the  Lender and  any  liability
           (including penalties, interest and expenses) arising therefrom  or
           with respect  thereto.  Payments due  under  this  indemnification
           shall be made within 30 days of the date the Lender makes  written
           demand therefor pursuant to Section 3.4.

      3.4  Lender Statements; Survival of Indemnity.  Lender shall deliver  a
 written statement  to the  Borrower as  to  the amount  due, if  any,  under
 Section 3.1,  3.2  or, 3.3.    Such written  statement  shall set  forth  in
 reasonable detail the calculations upon which Lender determined such  amount
 and shall  be  final,  conclusive  and binding  on  the  Borrower.    Unless
 otherwise provided herein, the amount specified in the written statement  of
 Lender shall be  payable on  demand after receipt  by the  Borrower of  such
 written statement.  The obligations of the Borrower under Sections 3.1,  3.2
 and 3.3  shall  survive the  payment  in full  of  the Obligations  and  the
 termination of this  Agreement, for  a period  of 365  days in  the case  of
 Sections 3.1,  3.2  and  3.3 provided  that  any  obligation  discovered  or
 asserted during such 365 day period shall survive thereafter.

                                  ARTICLE IV

                             CONDITIONS PRECEDENT

      4.1  Initial Advance and Facility Letter of  Credit.  The Lender  shall
 not be required to  make the initial Advance  hereunder and, if the  initial
 Advance shall not have been made, the Lender shall not be required to  issue
 any Facility Letter  of Credit hereunder  unless the  Borrower has  complied
 with the following conditions precedent:

                (i)  the Borrower has furnished to the Lender the  following,
           each dated as of the initial  Borrowing Date or Issuance Date,  as
           the case may be  (or such earlier date  as shall be acceptable  to
           the Lender):

                     (a)  Copies  of   the  articles   of  incorporation   of
           Borrower, together with all  amendments thereto, and  certificates
           of good  standing   of Borrower  from each  jurisdiction in  which
           Borrower is  qualified  to  do  business,  all  certified  by  the
           appropriate   governmental    officers   in    their    respective
           jurisdiction.

                     (b)  Copies, certified by the Secretary or an  Assistant
           Secretary of Borrower, of its by-laws, operating agreements and of
           Board of Directors' and  members' resolutions (and resolutions  of
           other bodies,  if any  are deemed  necessary  by counsel  for  the
           Lender) authorizing the execution of each of the Loan Documents to
           which such Borrower is a party.

                     (c)  Incumbency certificates, executed by the  Secretary
           or an Assistant Secretary of  each Borrower, which shall  identify
           by name  and title  and  bear the  signature  of the  officers  of
           Borrower authorized to sign  the Loan Documents to  which it is  a
           party and,  with  respect  to the  Borrower,  to  make  borrowings
           hereunder, upon  which certificates  the  Lender and  the  Lenders
           shall be entitled to rely until informed of any change in  writing
           by the Borrower.

                     (d)  A certificate,  signed by  the president  or  chief
           financial officer of  the Borrower,  stating that  on the  initial
           Borrowing Date that the Borrower is solvent and that no Default or
           Unmatured Default has occurred and is continuing.

                     (e)  A  written  opinion  of  outside  counsel  to   the
           Borrower addressed  to the  Lender in  substantially the  form  of
           Exhibit E hereto.

                     (f)  This Agreement  and the  Notes fully  executed  and
           payable to the order of the Lender.

                     (g)  A Security Agreement executed  by the Borrower  and
           (if applicable) the Subsidiaries (other than WEA) in favor of  the
           Lender together with:

                          (i)  original copies  of  Uniform  Commercial  Code
                     financing  statements   (Form  UCC-1),   dated  a   date
                     reasonably near (but not  subsequent to) to the  Closing
                     Date naming the Borrower as Debtor and the Lender as the
                     secured party, in  a form sufficient  to be filed  under
                     the Uniform Commercial Code of all jurisdictions as  may
                     be necessary or, in the reasonable opinion of the Lender
                     or Required Lenders, desirable  to perfect the  security
                     interest of  the  Lender  and Lenders  pursuant  to  the
                     Security Agreement;

                          (ii) executed copies of  proper Uniform  Commercial
                     Code termination statements (Form UCC-3) and such  other
                     instruments or agreements to release all Liens and other
                     rights of any  Person in any  collateral covered by  the
                     Collateral Documents;

                          (iii)     certified copies  of  Uniform  Commercial
                     Code Requests for  Information or copies,  or a  similar
                     search report certified  by the Borrower,  dated a  date
                     reasonably near (but not  subsequent to) to the  Closing
                     Date, listing all  effective financing statements  which
                     name Borrower  as the  debtor  none of  which  financing
                     statements (other  than  those described  in  subsection
                     (ii) of this Section) shall cover any collateral covered
                     by  the  Security   Agreement,  unless  such   financing
                     statements evidence Permitted Liens.

                          (iv) an  Authorization   to  File   UCC   Financing
                     Statements in the form of Exhibit I hereto.

                (h)  Subordination   agreements   in   form   and   substance
           acceptable to the Lender with respect to Subordinated Debt.

                (i)  Written money  transfer  instructions addressed  to  the
           Lender and signed  by an  Authorized Officer,  together with  such
           other related money transfer authorizations as the Lender may have
           reasonably requested.

                (j)  An updated field audit conducted by Lender, the  results
           of which are satisfactory  to Lender, and  payment by Borrower  to
           Lender of the full cost of such field audit.

                (k)  The Stock Pledge Agreement executed by Borrower in favor
           of Lender pledging  to Lender all  of Borrower's  right title  and
           interest in and to the capital stock of AGE, together with (i) the
           original stock  certificates  evidencing Borrower's  ownership  of
           such stock, and (ii)  stock powers in blank  with respect to  such
           stock executed by the Borrower.

                (l)  Such other documents as Lender  or its counsel may  have
           reasonably requested.

      (ii) Evidence satisfactory to the Lender  that the Borrower shall  have
 paid, or concurrently with the making of the initial Advance or the issuance
 of the  initial Facility  Letter of  Credit  shall pay,  in full,  all  fees
 required to  be paid  pursuant to  Section 2.4.1  on or  before the  initial
 Borrowing Date or Issuance Date, as the case may be.

      (iii)     The insurance  certificate described  in Section  5.24  along
 with evidence  that  the Lender  has  been named  as  loss payee  under  all
 policies of casualty insurance, and as additional insured under all policies
 of liability insurance required  in accordance with  Section 5.23 and  under
 the Security  Agreement (in  the form  of  certificates of  insurance,  with
 standard lenders' loss  payable endorsements acceptable  to Lender or  other
 instruments or documents evidencing such insurance coverage).

      (iv) Lender  has  received  such  consents,  estoppels,   subordination
 agreements and  other  documents  and  instruments  executed  by  landlords,
 tenants and  other  Persons party  to  material contracts  relating  to  any
 Collateral as to which the Lender shall be granted a Lien for the benefit of
 the Lenders, as requested by the Lender or any Lender.

      (v)  Evidence that all other  actions necessary or,  in the opinion  of
 the Lender  or the  Lenders,  desirable to  perfect  and protect  the  first
 priority Lien created by the Security Agreement, and to enhance the Lender's
 ability to  preserve  and  protect  its  interests  in  and  access  to  the
 Collateral, have been taken.

      (vi) Upon  the  Closing  Date,  the  Borrower  shall  have  a   minimum
 availability of $500,000  under the  Revolving Credit  Commitment after  the
 funding of the initial Revolving Loans.

      (vii)     On the Closing Date,  the Total Assets of  the Borrower at  a
 fair valuation at  their then present  fair salable value,  determined in  a
 manner and based on assumptions satisfactory to Lender, shall be  materially
 greater than  the  Total  Liabilities  of  Borrower,  and  Lender  shall  be
 satisfied that  Borrower's assets  at a  fair valuation  and at  their  fair
 salable value  will  continue  to  be  materially  greater  than  the  total
 Liabilities of Borrower thereafter.

      4.2  Each Advance and Facility Letter of Credit.  The Lender shall  not
 be required to  make any  Advance to issue  any Facility  Letter of  Credit,
 unless on the applicable  Borrowing Date or Issuance  Date, as the case  may
 be:

                (i)  There exists no Default or Unmatured Default.

                (ii) The representations and warranties contained in  Article
           V are true  and correct as  of such Borrowing  Date except to  the
           extent any such  representation or  warranty is  stated to  relate
           solely to an earlier  date, in which  case such representation  or
           warranty shall be true and correct on and as of such earlier date.

 Each Borrowing Notice with  respect to each such  Advance and each  Facility
 Letter of Credit Request with respect to each such Facility Letter of Credit
 shall constitute  a representation  and warranty  by the  Borrower that  the
 conditions contained in Sections 4.2(i) and (ii) have been satisfied.

                                  ARTICLE V

                        REPRESENTATIONS AND WARRANTIES

      The Borrower represents and warrants to the Lenders that:

      5.1  Corporate Existence  and  Standing.   W-G  is a  corporation  duly
 formed, validly existing and in good standing under the laws of the State of
 Illinois, AGE is  a corporation duly  formed, validly existing  and in  good
 standing under the laws of the State of Nevada, and each Subsidiary (if any)
 is a corporation duly  formed, or a  corporation duly incorporated,  validly
 existing and in  good standing  under the laws  of its  respective state  or
 country of  formation  or incorporation.    Each  of the  Borrower  and  the
 Subsidiaries  is  duly  qualified  and  in   good  standing  as  a   foreign
 corporation, as  the  case  may  be,  authorized  to  do  business  in  each
 jurisdiction where such qualification is required  because of the nature  of
 its activities  or  properties  and  where  the  failure  to  maintain  such
 qualification would  singly or  in the  aggregate cause  a Material  Adverse
 Effect.

      5.2  Authorization and  Validity.    The Borrower  has  the  power  and
 authority and legal right to execute and deliver the Loan Documents to which
 it is a party and to perform its obligations thereunder.  The execution  and
 delivery by the Borrower  of the Loan Documents  and the performance of  its
 obligations  thereunder  have  been  duly  authorized  by  proper  corporate
 proceedings, and  the Loan  Documents constitute  legal, valid  and  binding
 obligations of the Borrower, enforceable against the Borrower in  accordance
 with  the  terms  thereof,  except  as  enforceability  may  be  limited  by
 bankruptcy, insolvency  or  similar laws  or  general principles  of  equity
 relating to remedies affecting or relating to the enforcement of  creditors'
 rights generally.

      5.3  No Conflict;  Government  Consent.    Neither  the  execution  and
 delivery by the Borrower of the Loan Documents, nor the consummation of  the
 transactions  therein  contemplated,  nor  compliance  with  the  provisions
 thereof will  violate  any law,  rule,  regulation, order,  writ,  judgment,
 injunction,  decree  or  award  binding  on  the  Borrower  or  any  of  its
 Subsidiaries, or  violate the  Borrower's or  any Subsidiary's  articles  of
 incorporation or by-laws, or the provisions of any indenture, instrument  or
 agreement to which the Borrower or any of its Subsidiaries is a party or  is
 subject, or  by which  it or  its Property  is bound,  or conflict  with  or
 constitute a default thereunder, or result in the creation or imposition  of
 any Lien in, of or on the Property of the Borrower or a Subsidiary  pursuant
 to the terms of any such indenture, instrument or agreement, except for  any
 such violation or conflict which would not singly or in the aggregate  cause
 a  Material  Adverse   Effect.    No   order,  consent,  approval,   license
 authorization, or validation of, or filing, recording or registration  with,
 or exemption by, or  other action in respect  of any governmental or  public
 body or authority, or any subdivision thereof, is required to authorize,  or
 is required in connection with the  execution, delivery and performance  of,
 or the legality,  validity, binding effect  of, any of  the Loan  Documents,
 except as may be applicable because of  the Lender being a party thereto  or
 except as may  be required with  respect to particular  Facility Letters  of
 Credit, and  except for  any  failure to  obtain  any such  order,  consent,
 approval, license, authorization or exemption or to make any such filing  or
 recordation or to take any  such other action which  would not singly or  in
 the aggregate cause a Material Adverse Effect.

      5.4  Financial Statements.   The June 30,  2001 consolidated  financial
 statements of the Borrower and its Subsidiaries heretofore delivered to  the
 Lender were prepared in accordance with GAAP  as in effect on the date  such
 statements were  prepared  and  fairly present  the  consolidated  financial
 condition and operations of the Borrower  and its Subsidiaries at such  date
 and the consolidated results of their operations for the period then ended.

      5.5  Material Adverse Change.   Except as set forth  as of the date  of
 this Agreement on Schedule 5.5 hereto,  since June 30, 2001, there has  been
 no change  in the  business, Property,  financial  condition or  results  of
 operations of the  Borrower and its  Subsidiaries, taken as  a whole,  which
 could reasonably be expected to have a Material Adverse Effect.

      5.6  Taxes.  Except as set  forth as of the  date of this Agreement  on
 Schedule 5.6 hereto, the Borrower and its Subsidiaries have filed (or joined
 in the filing of) all United States federal income tax returns and all other
 tax returns which  are required  to be  filed and  have paid  all taxes  due
 pursuant to  said returns  or pursuant  to any  assessment received  by  the
 Borrower or any of its Subsidiaries, except such taxes, if any, as are being
 contested in good faith and as to which adequate reserves have been provided
 in accordance with GAAP and as to which no Lien exists, except for  failures
 to file or pay  which could not  be reasonably expected  to have a  Material
 Adverse Effect.  No tax liens (other than those, if any, which are Permitted
 Liens) have been filed and no claims are being asserted with respect to  any
 such taxes. The charges, accruals and reserves on the books of the  Borrower
 and its Subsidiaries in respect of  any taxes or other governmental  charges
 are adequate.

      5.7  Litigation and Contingent Obligations.  Except as set forth as  of
 the date of this Agreement on  Schedule 5.7 hereto, there is no  litigation,
 arbitration, governmental investigation, proceeding  or inquiry pending  or,
 to the  best knowledge  of  any of  their  officers, threatened  against  or
 affecting the Borrower or any of its Subsidiaries which could be  reasonably
 expected to have a Material Adverse Effect or which seeks to prevent, enjoin
 or delay  the making  of the  Loans or  Advances. Other  than any  liability
 incidental to  such  litigation,  arbitration or  proceedings,  neither  the
 Borrower nor  any Subsidiary  has any  material contingent  obligations  not
 provided for or disclosed in the financial statements referred to in Section
 5.4.

      5.8  Subsidiaries.   Except as  otherwise disclosed  to the  Lender  in
 writing on or  prior to  the date hereof,  Schedule 5.8  hereto contains  an
 accurate list of all  Subsidiaries of the  Borrower as of  the date of  this
 Agreement, setting  forth their  respective  jurisdictions of  formation  or
 incorporation and the percentage of their respective equity interests  owned
 by the Borrower or other Subsidiaries.   Such Subsidiaries (other than  WEA)
 do not own any Collateral  or if any Collateral  is owned (other than  WEA),
 have delivered to Lender a Security  Agreement and UCC financing  statements
 required by Lender.  All of  the issued and outstanding equity interests  of
 such Subsidiaries  have been  duly authorized  and issued  and those  equity
 interests which are owned by Borrower or one or more of its Subsidiaries are
 fully paid and non-assessable.

      5.9  ERISA.  The Unfunded Liabilities of  all Single Employer Plans  as
 reflected in  the most  recent actuarial  valuation report  for each  Single
 Employer Plan do not in the aggregate exceed $100,000. Neither the  Borrower
 nor any other member of the Controlled Group has incurred, or is  reasonably
 expected to incur, any withdrawal liability to Multiemployer Plans in excess
 of $100,000 in the  aggregate.  Each Benefit  Plan complies in all  material
 respects with  all  applicable  requirements  of  law  and  regulations,  no
 Reportable Event has occurred with respect to any Plan, neither the Borrower
 nor any other members of the  Controlled Group has withdrawn from any  Plan,
 except as set forth as of the date of this Agreement on Schedule 5.9 hereto,
 or initiated steps to do so, and no  steps have been taken to reorganize  or
 terminate any Plan.   Each Benefit  Plan is in  substantial compliance  with
 ERISA and the Code  and the Borrower  has not received  any notice from  the
 government or any agency  or department thereof  asserting that any  Benefit
 Plan is not in compliance with either ERISA or the Code.

      5.10 Accuracy of  Information.    No  information,  exhibit  or  report
 furnished by  the Borrower  or any  of  its Subsidiaries  to the  Lender  in
 connection with the negotiation of, or  compliance with, the Loan  Documents
 contained any material misstatement of fact  or omitted to state a  material
 fact or any  fact necessary  to make  the statements  contained therein  not
 misleading, provided that  this Section 5.10  shall not apply  to any  plan,
 forecast, projection or  pro forma financial  information contained in  such
 materials that is based upon good  faith estimates and assumptions  believed
 by the Borrower or such Subsidiary to be reasonable at the time made.

      5.11 Regulation  U.    Margin  stock  (as  defined  in  Regulation   U)
 constitutes less than 25% of  those assets of the  Borrower and each of  its
 Subsidiaries which are subject to any  limitation on sale, pledge, or  other
 restriction hereunder.

      5.12 Material Agreements.  Neither the Borrower nor any Subsidiary is a
 party to any  agreement or  instrument or subject  to any  charter or  other
 corporate restriction which could reasonably be expected to have a  Material
 Adverse Effect. Neither the Borrower nor any Subsidiary is in default in the
 performance, observance or fulfillment of any of the obligations,  covenants
 or conditions contained in any agreement to which it is a party, except such
 default which could not  reasonably be expected to  have a Material  Adverse
 Effect.

      5.13 Compliance With Laws.  The Borrower  and each of its  Subsidiaries
 have complied with all applicable  statutes, rules, regulations, orders  and
 restrictions of any domestic or foreign government or any instrumentality or
 agency thereof, having  jurisdiction over  the conduct  of their  respective
 businesses or  the ownership  of their  respective Property  except for  any
 failure to comply with  any of the foregoing  which could not reasonably  be
 expected to have a Material Adverse Effect.

      5.14 Ownership of Properties.   Except as  set forth  on Schedule  5.14
 hereto and  except for  sales of  inventory  and other  assets made  in  the
 ordinary course  of  business since  June  30, 2001,  on  the date  of  this
 Agreement, the Borrower and its Subsidiaries  will have good title, free  of
 all Liens  (other than  those permitted  by  Section 6.16),  to all  of  the
 Property and assets reflected as owned by it in the Borrower's June 30, 2001
 consolidated balance sheet heretofore delivered to the Lenders.

      5.15 Environmental Matters.  Except as set forth as of the date of this
 Agreement on Schedule 5.15 hereto, in  the ordinary course of its  business,
 the officers of the  Borrower consider the effect  of Environmental Laws  on
 the business of the  Borrower and its Subsidiaries,  in the course of  which
 they identify and evaluate potential risks  and liabilities accruing to  the
 Borrower due to Environmental Laws.  On the basis of this consideration, the
 Borrower has concluded that Environmental Laws cannot reasonably be expected
 to have a Material Adverse Effect.  Neither the Borrower nor any  Subsidiary
 has any reason to believe that its operations are not in material compliance
 with any of  the requirements of  applicable Environmental Laws  or are  the
 subject of  any  federal  or  state  investigation  evaluating  whether  any
 remedial action is needed to respond to a release of any toxic or  hazardous
 waste or substance  into the environment,  which non-compliance or  remedial
 action could reasonably be expected to have a Material Adverse Effect.

      5.16 Investment Company Act.  Neither  the Borrower nor any  Subsidiary
 thereof  is  an  "investment  company"  or  a  company  "controlled"  by  an
 "investment company", within the  meaning of the  Investment Company Act  of
 1940, as amended.

      5.17 Public Utility Holding Company Act.  Neither the Borrower nor  any
 Subsidiary is a "holding  company" or a "subsidiary  company" of a  "holding
 company", or  an "affiliate"  of a  "holding company"  or of  a  "subsidiary
 company" of a "holding  company", within the meaning  of the Public  Utility
 Holding Company Act of 1935, as amended.

      5.18 Intentionally Omitted.

      5.19 Intellectual Property.    Borrower  owns, is  licensed  under,  or
 otherwise  has  the  rights  to,  all  patents,  trademarks,  trade   names,
 copyrights, technology, know-how and processes used in or necessary for  the
 conduct of its business as currently conducted (collectively,  "Intellectual
 Property"), except where the failure to own, be licensed under or  otherwise
 have the rights to  any such Intellectual Property  could not reasonably  be
 expected to have a  Material Adverse Effect.   All such patents,  federally-
 registered trademarks and registered copyrights included in the Intellectual
 Property are properly registered, filed or issued in the appropriate  office
 and jurisdictions for such registrations, filing or issuances.  No  material
 claim has  been asserted  by any  Person  with respect  to  the use  of  any
 Intellectual  Property,  or  challenging  or  questioning  the  validity  or
 effectiveness  of  any  Intellectual  Property,  and  to  the  knowledge  of
 Borrower, the  use  of  such Intellectual  Property  by  Borrower  does  not
 infringe on the rights of any Person.

      5.20 Labor.   There  are  no  strikes,  work  stoppages,  unfair  labor
 charges, equal employment opportunity proceedings, wage payment or  material
 unemployment  compensation  proceedings,  material  workmen's   compensation
 proceedings or  other  material  labor or  employee  related  controversies,
 pending or, to Borrower's knowledge,  threatened involving Borrower and  any
 of its employees, except  for any of  the foregoing which  would not in  the
 aggregate have a Material Adverse Effect.

      5.21 Solvency.    After  giving  effect  to  the  consummation  of  the
 transactions contemplated by this Agreement, Borrower has capital sufficient
 to  carry  on  its  business  and   transactions  and  all  businesses   and
 transactions in which it is about to engage  and is solvent and able to  pay
 its debts as they mature and Borrower owns property the fair saleable  value
 of which is greater than the amount required to pay Borrower's Indebtedness.
 No transfer of property is being made and no Indebtedness is being  incurred
 in connection with the transactions contemplated by this Agreement with  the
 intent to hinder,  delay or defraud  either present or  future creditors  of
 Borrower or any Affiliate.

      5.22 Post-Retirement Benefits.   The present value of the expected cost
 to  the  Borrower  and  its  Subsidiaries  of  post-retirement  medical  and
 insurance benefits  provided by  the Borrower  and its  Subsidiaries to  its
 employees and former employees, as estimated  by the Borrower in  accordance
 with procedures and assumptions  deemed reasonable by  the Lender, does  not
 exceed $250,000.

      5.23 Insurance.  In addition to insurance requirements set forth in the
 Security Agreement, the Borrower shall maintain, and shall cause each of its
 Subsidiaries to maintain, with  financially sound and reputable  independent
 insurers, insurance with respect to its properties and business against loss
 or damage of the kinds customarily insured against by Persons engaged in the
 same or  similar  business,  of  such  types and  in  such  amounts  as  are
 customarily carried  under  similar  circumstances by  such  other  Persons;
 including workers' compensation insurance, public liability and property and
 casualty insurance which amount shall not be reduced by the Borrower in  the
 absence of 10 days' prior  notice to the Lender  other than in the  ordinary
 course of  business.  All such  insurance  shall  name the  Lender  as  loss
 payee/mortgagee and  as  additional  insured.   All  casualty  and  key  man
 insurance maintained by the Borrower shall name the Lender as loss payee and
 all liability insurance shall name the  Lender as additional insured.   Upon
 request of the Lender, the Borrower  shall furnish the Lender at  reasonable
 intervals (but not  more than  once per calendar  year) a  certificate of  a
 Responsible Officer of the  Borrower (and, if requested  by the Lender,  any
 insurance broker of the Borrower) setting forth the nature and extent of all
 insurance maintained by the Borrower and its Subsidiaries in accordance with
 this Section  or  the  Security Agreement  (and  which,  in the  case  of  a
 certificate of a broker, were placed through such broker).

      5.24 Insurance Certificate.    The  certificate  delivered  at  Closing
 signed by the  President or Chief  Financial Officer of  the Borrower,  that
 attests to the existence and adequacy  of, and summarizes, the property  and
 casualty insurance program carried  by the Borrower  with respect to  itself
 and its Subsidiaries  and that  has been furnished  by the  Borrower to  the
 Lender is complete  and accurate.   This summary includes  the insurer's  or
 insurers'  name(s),  policy  number(s),  expiration  date(s),  amount(s)  of
 coverage, type(s) of coverage, exclusion(s), and deductibles.  This  summary
 also includes similar information, and  describes any reserves, relating  to
 any self-insurance program that is in effect.

                                  ARTICLE VI

                                  COVENANTS

      During the term of  this Agreement, unless  the Required Lenders  shall
 otherwise consent in writing:

      6.1  Financial Reporting.  The Borrower  will maintain, for itself  and
 each Subsidiary,  a system  of accounting  established and  administered  in
 accordance with GAAP, and furnish to the Lender:

           (i)  Within 90 days after the close  of each of its Fiscal  Years,
      an unqualified    (except for  qualifications  relating to  changes  in
      generally  accepted  accounting  principles  or  practices   reflecting
      changes in  generally  accepted  accounting  principles)  audit  report
      certified by KPMG, or by other independent certified public accountants
      reasonably acceptable to the Lender,  prepared in accordance with  GAAP
      on a  consolidated basis  for itself  and its  Subsidiaries,  including
      balance sheets as of  the end of such  period, related profit and  loss
      and reconciliation  of  surplus statements,  and  a statement  of  cash
      flows;

           (ii) Within 20 days  after the end  of each month  of each of  its
      Fiscal  Years,  for  itself  and  its  Subsidiaries,  consolidated  and
      consolidating unaudited balance sheets  as at the  close of such  month
      most recently ended and consolidated and consolidating profit and  loss
      and reconciliation  of  surplus  statements, and  for  itself  and  its
      Subsidiaries, a  statement  of  cash flows  for  the  period  from  the
      beginning of such Fiscal Year to the end of such month, all prepared in
      accordance with GAAP and  certified by the  chief financial officer  of
      the Borrower;

           (iii)     Together with  the financial  statements required  under
      Sections 6.1(i)  and  (ii),  submitted  at  the  end  of  each  of  the
      Borrower's fiscal quarters, a Compliance Certificate, and together with
      the financial  statements required  under  Section 6.1(i),  a  detailed
      business plan for the Borrower's  and its Subsidiaries' current  Fiscal
      year detailing expected financial results.

           (iv) Schedules of Accounts, Inventory and Payables.  On or  before
      the twentieth day  of each  calendar month  a Schedule  of Accounts,  a
      Schedule of Inventory and a Schedule of Payables as at the last day  of
      the immediately  preceding calendar  month, each  showing an  aging  of
      Accounts, Inventory and accounts payable respectively and otherwise  in
      form and substance satisfactory to the Lender.

           (v)  Sales and  Collection  Reports.   Not  less  frequently  than
      weekly (and more frequently in the Lender's reasonable discretion, if a
      Default has occurred and is continuing), a sales and collection  report
      for  the  immediately  preceding  week,  each  in  form  and  substance
      satisfactory to the Lender.

           (vi) Borrowing Base Certificate.  Not less frequently than  weekly
      (and more frequently in the Lender's reasonable discretion) a Borrowing
      Base Certificate in the form of  Exhibit H hereto listing all  Accounts
      generated by the Borrower  during the immediately  prior week.   Unless
      the  Lender  provides  notification  otherwise,  such  Borrowing   Base
      Certificate shall be delivered to Lender at least once each week.

           (vii)     Forthwith  upon   Borrower's   having   knowledge,   the
      occurrence of a Default or Unmatured Default written notice  describing
      in detail such event.

           (viii)    Forthwith  upon  Borrower's  having  knowledge  of   the
      institution  of,  or  any  adverse  determination  in  any  litigation,
      arbitration proceeding  or court  proceeding  in which  any  injunctive
      relief is sought or in which money damages in excess of $500,000 in the
      aggregate are sought,  written notice  describing such  matter and  the
      Borrower's intended response.

           (ix) If the  Borrower  or  any  member  of  the  Controlled  Group
      maintains a Single Employer  Plan, within 270 days  after the close  of
      each Fiscal  Year, a  statement of  the  Unfunded Liabilities  of  each
      Single  Employer  Plan,  if  any,  certified  as  correct  by  a   plan
      administrator enrolled under ERISA.

           (x)  As soon as possible and in any event within 10 days after the
      Borrower knows that any Reportable Event  has occurred with respect  to
      any Benefit Plan, a statement, signed by the chief financial officer of
      the Borrower, describing said Reportable Event and the action which the
      Borrower proposes to take with respect thereto.

           (xi) As soon as possible and in any event within 10 days after the
      Borrower or any Controlled Group member withdraws from a  Multiemployer
      Plan and  the  liability  from  such  withdrawal  could  reasonably  be
      expected to exceed $100,000.

           (xii)     As soon  as possible  and in  any event  within 10  days
      after the Borrower terminates a Single Employer Plan under Section 4041
      of ERISA or  the Borrower knows  that any Controlled  Group Member  has
      terminated a Single Employer Plan that  could result in the  imposition
      of a Lien on the property of Alleghany, the Borrower or any Subsidiary.

           (xiii)    As soon  as possible  and in  any event  within 10  days
      after receipt by the Borrower of  a written notice from the  government
      or any agency or department thereof  that any Benefit Plan of  Borrower
      has violated the provisions of ERISA or the Code, which violation could
      result in liability to the Borrower in excess of $100,000.

           (xiv)     As soon  as possible  and in  any event  within 10  days
      after receipt by the Borrower, a copy of (a) any notice or claim to the
      effect that the Borrower or any of its Subsidiaries is or may be liable
      to any Person as a result  of the release by  the Borrower, any of  its
      Subsidiaries, or any other  Person of any toxic  or hazardous waste  or
      substance into  the  environment,  and  (b)  any  notice  alleging  any
      violation of  any  federal, state  or  local environmental,  health  or
      safety law or regulation  by the Borrower or  any of its  Subsidiaries,
      which, in either case, could reasonably be expected to have a  Material
      Adverse Effect.

           (xv) Within thirty days following delivery to the Borrower, a copy
      of each of the Borrower's auditor's management letters, if prepared.

           (xvi)     Promptly, copies  of all  material financial  statements
      and reports that the Borrower sends to its shareholders.

           (xvii)    Such   other   information   (including    non-financial
      information) as the Lender may from time to time reasonably request.

      6.2  Use  of  Proceeds.    The  Borrower  will,  and  will  cause  each
 Subsidiary to, use the proceeds of  the Revolving Advances and the  Facility
 Letters of Credit for  working capital and  for general corporate  purposes.
 The Borrower will not, nor will it permit any Subsidiary to, use any of  the
 proceeds of the Advances  or the Facility Letters  of Credit to purchase  or
 carry any "margin stock" (as defined in Regulation U).

      6.3  Notice of  Default.   The  Borrower  will give  prompt  notice  in
 writing to the  Lenders of the  occurrence of (i)  any Default or  Unmatured
 Default and  (ii)  any  other development,  financial  or  otherwise,  which
 development could reasonably be expected to have a Material Adverse Effect.

      6.4  Conduct of  Business.   The Borrower  will,  and will  cause  each
 Subsidiary to, carry on and conduct  its business in substantially the  same
 manner and in substantially the same fields of enterprise as it is presently
 conducted and  to  do all  things  necessary to  remain  duly  incorporated,
 validly existing  and in  good standing  as a  domestic corporation  in  its
 jurisdiction of  incorporation  and  maintain  all  requisite  authority  to
 conduct its business in each jurisdiction in which its business is conducted
 unless failure to maintain such authority  could not reasonably be  expected
 to have a Material Adverse Effect.

      6.5  Taxes.   The Borrower  will, and  will cause  each Subsidiary  to,
 timely file  (or join in the  filing of) complete and correct United  States
 federal and applicable foreign, state and local tax returns required by  law
 and pay when due all taxes, assessments and governmental charges and  levies
 upon it or  its income, profits  or Property, except  those which are  being
 contested in good faith by appropriate proceedings and with respect to which
 adequate reserves have been set aside in accordance with GAAP, and except to
 the extent that the failure to file any return or the nonpayment of any  tax
 could not reasonably be expected to have a Material Adverse Effect.

      6.6  Insurance.  The Borrower will, and will cause each Subsidiary  to,
 maintain with financially sound and reputable insurance companies  insurance
 on all  their  Property  in such  amounts  and  covering such  risks  as  is
 consistent with sound business  practice, and the  Borrower will furnish  to
 any Lender upon request full information as to the insurance carried.

      6.7  Compliance with  Laws.   The Borrower  will, and  will cause  each
 Subsidiary to,  comply with  all laws,  rules, regulations,  orders,  writs,
 judgments, injunctions,  decrees  or  awards to  which  it  may  be  subject
 including, without limitation, all Environmental Laws, except to the  extent
 that noncompliance  could not  reasonably be  expected  to have  a  Material
 Adverse Effect.

      6.8  Maintenance of Properties.  The Borrower will, and will cause each
 Subsidiary to, do all  things necessary to  maintain, preserve, protect  and
 keep its Property in good repair, working order and condition, and make  all
 necessary and proper repairs, renewals and replacements so that its business
 carried on in connection therewith may  be properly conducted at all  times,
 except to the  extent that failure  to maintain such  Property or make  such
 repair could not reasonably be expected to have a Material Adverse Effect.

      6.9  Inspection.  The Borrower will, and will cause each Subsidiary to,
 permit the Lender and  any Lender, by  their respective representatives  and
 Lenders, to  inspect any  of the  Property,  corporate books  and  financial
 records of the Borrower and each  Subsidiary, to examine and make copies  of
 the books of accounts and other  financial records of the Borrower and  each
 Subsidiary, and  to  discuss  the affairs,  finances  and  accounts  of  the
 Borrower and each  Subsidiary with, and  to be advised  as to  the same  by,
 their respective  officers at  such reasonable  times and  intervals as  the
 Lender or any  Lender may  designate.   Borrower shall  upon written  demand
 reimburse Lender for each field audit in an amount equal to $500 per auditor
 per day plus expenses, provided that Borrower's field audit costs shall  not
 exceed $2500 plus expenses in any calendar year.

      6.10 Financial Covenants.  The financial covenants referred to in  this
 Section 6.10  shall each  be computed  at  the end  of each  fiscal  quarter
 (unless stated otherwise) by  the Borrower, and  such calculations shall  be
 included in the Compliance Certificate referred to in Section 6.1(iii).  For
 purposes of  calculating  the  financial covenants  in  this  Section  6.10,
 current liabilities  shall include  but not  be limited  to all  outstanding
 Revolving Advances and Reimbursement Obligations.

           6.10.1    Debt Service  Coverage.   The Borrower  will maintain  a
 Debt Service Coverage Ratio, at all times, of not less than the following:

  For the Fiscal Quarters Ending          Debt Service Coverage Ratio
  ------------------------------          ---------------------------
      March 31, 2002
      and thereafter                               1.00:1.00

 The first Debt Service Coverage test date will be March 31, 2002 and include
 only the first calendar  quarter 2002 financial performance.  The  June  30,
 2002 test will include the prior  two calendar quarters.  The September  30,
 2002 test will include  the prior three calendar  quarters and the  December
 31, 2002 test and  each test thereafter will  include the immediately  prior
 twelve trailing calendar months.

           6.10.2    Total Liabilities to Tangible  Net Worth.  The  Borrower
 will maintain a Ratio of Total Liabilities to Tangible Net Worth of (a)  not
 greater than 3.75 to  1.00 measured at September  30, 2001, (b) not  greater
 than 4.15 to 1.00 measured at December  31, 2001, (c) 3.75 to 1.00  measured
 at March 31, 2002, (d) 3.50 to 1.00 measured at June 30, 2002, and (e)  3.25
 to 1.00 measured at September 30, 2002 and at all times thereafter.

           6.10.3    Tangible Net  Worth.    The  Borrower  will  maintain  a
 Tangible Net Worth of not less than (a) $4,500,000 measured at September 30,
 2001 and (b) $4,600,000 measured at December 31, 2001.  With respect to each
 calendar quarter during  calendar year  2002 and  thereafter, Borrower  will
 maintain a Tangible  Net Worth (measured  on the last  day of such  calendar
 quarter) of not less than (x) the  Tangible Net Worth required to have  been
 maintained at  the end  of  the previous  calendar  quarter plus  (y)  fifty
 percent (50%)  of the  Net Income  of Borrower  earned during  the  calendar
 quarter in question.

      6.11 Purchase and Redemption of the Borrower's Securities; Dividend and
 Interest Restrictions.  Not purchase or redeem any shares of the  Borrower's
 or any Subsidiary's capital  stock or any options  or warrants with  respect
 thereto, declare or pay any dividends thereon (other than an annual 5% stock
 dividend with the Lender's consent, not  to be unreasonably withheld),  make
 any distribution  or  payment  to stockholders  or  holders  of  options  or
 warrants in respect of the Borrower's  or any Subsidiary's capital stock  or
 set aside any funds for any such purpose without the Lender's prior  written
 consent.

      6.12 Indebtedness.   The Borrower  will not,  nor  will it  permit  any
 Subsidiary to, create, incur or suffer to exist any Indebtedness, except:

           (i)  Advances and Facility Letter of Credit Obligations hereunder;

           (ii) Indebtedness which  (a) exists  on the  date hereof,  (b)  is
      described in Schedule 6.12 hereto, and (c) has been previously approved
      by the Lender;

           (iii)     Subordinated Debt which is subordinated to the  Advances
      and  Facility  Letter  of  Credit   Obligations  on  terms  which   are
      satisfactory to the Required Lenders;

           (iv) Indebtedness  incurred  to  refinance  existing  Indebtedness
      permitted pursuant to  this Section 6.12;  provided, however, that  the
      maturity date of such new Indebtedness is no earlier than the  maturity
      date of the  Indebtedness being refinanced  and the terms  of such  new
      Indebtedness (including, but not limited to, the amount, the term,  the
      amount of  the  annual loan  payment  or provision  for  collateral  or
      additional collateral) are no more disadvantageous to the Lenders,  the
      Borrower and its Subsidiaries than the terms of the Indebtedness  being
      refinanced;

           (v)  Indebtedness not exceeding $75,000 in the aggregate evidenced
      by loans and advances to employees of the Borrower and its Subsidiaries
      (other than WEA) provided  that no such loans  will be made when  there
      exists an Unmatured Default or Default;

           (vi) Indebtedness not to exceed $150,000  in the aggregate at  any
      time outstanding secured by purchase money Liens;

           (vii)     Capital Lease Obligations not to exceed $150,000 in  the
      aggregate at any time outstanding;

           (viii)    Rate Hedging Obligations not  to exceed $100,000 in  the
      aggregate at any time outstanding;

           (ix) The following Contingent Obligations:

                 (1) those   resulting   from   endorsement   of   negotiable
           instruments for collection in the ordinary course of business;

                 (2) those  arising  under  indemnity  agreements  to   title
           insurers to cause  such title insurers  to issue  to Lender  title
           insurance polices, if applicable;

                 (3) those arising with respect to customary  indemnification
           obligations  incurred  in   connection  with  asset   dispositions
           permitted under this Agreement;

                 (4) those incurred in the  ordinary course of business  with
           respect to  surety and  appeal bonds,  performance and  return-of-
           money bonds and  other similar  obligations not  exceeding at  any
           time outstanding $100,000 in aggregate liability;

                 (5) any other Contingent Obligations not expressly permitted
           by subclauses (1)  through (4) above,  so long as  any such  other
           Contingent Obligations in the  aggregate at any time  outstanding,
           do not exceed $50,000; and

           (x)  unsecured indebtedness not described in clauses (i)  thorough
      (ix) above  not  to  exceed  $250,000 in  the  aggregate  at  any  time
      outstanding which  is  subordinated  to the  Obligations  in  a  manner
      satisfactory to Lender in Lender's sole discretion.

      6.13 Merger.  The Borrower will not, nor will it permit any  Subsidiary
 to, merge  or consolidate  with or  into  any other  Person, except  that  a
 Subsidiary may amalgamate, merge or consolidate with or into the Borrower or
 a Wholly-Owned Subsidiary.

      6.14 Sale of Assets.   The Borrower  will not, nor  will it permit  any
 Subsidiary to, lease, sell  or otherwise dispose of  Property, to any  other
 Person, except:

           (i)  Sales of inventory in the ordinary course of business.

           (ii) Leases,  sales  or  other  dispositions  of  Property   that,
      together with all other Property of  the Borrower and its  Subsidiaries
      previously leased, sold  or disposed of  (other than  inventory in  the
      ordinary course of business)  as permitted by  this Section during  the
      twelve-month period ending with the month in which any such lease, sale
      or other disposition occurs, do not constitute a Substantial Portion of
      the Property of the Borrower and its Subsidiaries.

      6.15 Investments and Acquisitions.  The Borrower will not, nor will  it
 permit any Subsidiary to, make or suffer to exist any Investments (including
 without limitation,  loans  and  advances  to,  and  other  Investments  in,
 Subsidiaries), or commitments therefor, or to become or remain a partner  in
 any partnership or joint venture, or member in a limited liability  company,
 or to make any Acquisition of any Person, except:

           (i)  Short-term obligations of, or fully guaranteed by, the United
      States of America.

           (ii) Commercial paper rated A-1 or  better by Standard and  Poor's
      Corporation or P-1 or better by Moody's Investors Service, Inc.

           (iii)     Demand  deposit  accounts  maintained  in  the  ordinary
      course of business.

           (iv) Certificates of  deposit issued  by  and time  deposits  with
      commercial banks  (whether  domestic  or foreign)  having  capital  and
      surplus in excess of $100,000,000.

           (v)  Investments not to exceed $5 million in the aggregate at  any
      one time outstanding in the common stock and investment grade bonds  of
      publicly held corporations which stock and bonds are traded on the  New
      York, American or NASDAQ stock exchanges.

           (vi) Loans  to  employees  of  the  Borrower  or  of  any  of  its
      Subsidiaries which  do  not  exceed, in  the  aggregate  for  all  such
      employees at any one time outstanding, $75,000.

           (vii)     Existing Investments which (a)  are in existence on  the
      date hereof, (b) are  described in Schedule  6.15(viii) hereto and  (c)
      have been previously approved by the Lender and the Lenders.

           (viii)    Investments consisting of security deposits with lessors
      and utilities  and other  similar Persons  in  the ordinary  course  of
      business.

      6.16 Liens.  The Borrower will not,  nor will it permit any  Subsidiary
 to create, incur, or suffer to exist any Lien  in, of or on the Property  of
 the Borrower or any  of its Subsidiaries,  except the following  ("Permitted
 Liens"):

           (i)  Liens for  taxes,  assessments  or  governmental  charges  or
      levies on its Property if the same shall not at the time be  delinquent
      or thereafter can be  paid without penalty, or  are being contested  in
      good faith  and  by  appropriate proceedings  and  for  which  adequate
      reserves in  accordance with  GAAP shall  have been  set aside  on  its
      books.

           (ii) Liens imposed by law, such  as statutory Liens of  landlords,
      carriers', warehousemen's and mechanics' liens and other similar  liens
      arising in  the ordinary  course of  business which  secure payment  of
      obligations not  more  than  60  days past  due  and  which  are  being
      contested in  good  faith  by appropriate  proceedings  and  for  which
      adequate reserves shall have been set aside on its books.

           (iii)     Liens arising out of pledges or deposits under  worker's
      compensation laws, unemployment insurance,  old age pensions, or  other
      social security or retirement benefits, or similar legislation.

           (iv) Liens arising from a judgment rendered or claim filed, not in
      excess, singly or in the aggregate, of $200,000 against the Borrower or
      any of its Subsidiaries which the Borrower or such Subsidiary shall  be
      contesting diligently in good faith by proper legal proceedings.

           (v)  Liens which exist on the date hereof incurred by Borrower  or
      its  Subsidiaries  in   the  ordinary  course   of  business   securing
      Indebtedness less than $100,000 in the aggregate.

           (vi) Liens securing obligations which are excluded from Subsection
      (iii) of the definition of Indebtedness herein.

           (vii)     Easements, rights of way, building restrictions and such
      other encumbrances or charges against real property which do not in any
      material way interfere with the use thereof by the Borrower.

           (viii)    Liens incurred or deposits  made in the ordinary  course
      of  business   to  secure   the  performance   of  tenders,   statutory
      obligations, surety, stay, customs  and appeal bonds, bids,  government
      contracts, trade  contracts, performance  and  return of  money  bonds,
      leases and other similar obligations (exclusive of obligations for  the
      payment of borrowed money.

           (ix) Deposits, in an aggregate amount not to exceed $75,000,  made
      in the ordinary  course of business  to secure  liability to  insurance
      carriers.

           (x)  Liens for purchase money obligations or under capital leases;
      provided that  (1)  the  Indebtedness  secured  by  any  such  Lien  is
      permitted under Subsection 6.12  and (2) any  such Lien encumbers  only
      the asset so purchased.

           (xi) Liens in favor of Lender.

           (xii)     Contractual liens  of lessors  under leases  encumbering
      solely the assets which are the subject of such leases.

           (xiii)    Any extension, renewal or substitution of or for any  of
      the foregoing Liens described  in this Section  6.16, provided in  each
      case that (a) the Indebtedness or other obligation or liability secured
      by the  applicable Lien  shall not  exceed  the Indebtedness  or  other
      obligation or liability existing  immediately prior to such  extension,
      renewal or substitution and (b) the Lien securing such Indebtedness  or
      other obligation or liability shall be  limited to the Property  which,
      immediately prior to such  extension, renewal or substitution,  secured
      such Indebtedness or other obligation or liability, and improvements on
      or additions to such Property.

      6.17 Prohibition of Negative Pledge.  The  Borrower will not, nor  will
 it permit any of  its Subsidiaries to  agree, covenant, warrant,  represent,
 pledge or otherwise commit with or to  any entity other than the Lender,  to
 not incur, create,  assume or permit  to exist, any  mortgage, pledge,  lien
 charge or other encumbrance of  any nature whatsoever on  all or any of  its
 assets now or hereafter owned.

      6.18 Affiliates.   The  Borrower  will not,  nor  will  it  permit  any
 Subsidiary to, enter  into any transaction  (including, without  limitation,
 the purchase or sale of any Property  or service) with, or make any  payment
 or transfer to, any Affiliate except in the ordinary course of business  and
 pursuant  to  the  reasonable  requirements   of  the  Borrower's  or   such
 Subsidiary's business and upon fair and  reasonable terms no less  favorable
 to the Borrower  or such  Subsidiary than  the Borrower  or such  Subsidiary
 would obtain in a comparable arms-length transaction.

      6.19 Amendments to  Agreements.   The Borrower  will not,  nor will  it
 permit any Subsidiary to,  amend any term or  provision of any  Subordinated
 Debt except with the consent of Lenders.  The Borrower shall deliver to  the
 Lender all amendments to the Subordinated Debt within five (5) days of  such
 amendment.

      6.20 Sale of Accounts.  The Borrower  will not, nor will it permit  any
 Subsidiary to,  sell  or  otherwise  dispose  of  any  notes  receivable  or
 Accounts, with or without recourse, except  for Accounts which are past  due
 in  an  aggregate  amount  not  exceeding  three  hundred  thousand  dollars
 ($300,000) for each of the Borrower's fiscal years placed with a  collection
 agent for collection at a commission not exceeding forty-five percent  (45%)
 of the amount of such notes or Accounts recovered.

      6.21 Fiscal Year.   The  Borrower  will not,  nor  will it  permit  any
 Subsidiary to, change its Fiscal Year.

      6.22 Limitation on  the  Creation  of  Subsidiaries.    Notwithstanding
 anything to the contrary contained in this Agreement, the Borrower will not,
 and will not permit any of its Subsidiaries to, establish, create or acquire
 any Subsidiary,  unless  such  Subsidiary  delivers  to  Lender  a  Security
 Agreement along with all other documentation required by Lender to perfect a
 first priority security interest in all  Collateral owned or to be owned  by
 such Subsidiary.

      6.23 Subsidiary Dividends.   The Borrower's Subsidiaries  shall not  in
 any  manner  either  directly  or  indirectly  incur  or  be  bound  by  any
 restrictions on dividends from such Subsidiaries to the Borrower, other than
 those restrictions required by applicable law.

      6.24 Repayment  of  Subordinated   Debt.    The   Borrower's  and   its
 Subsidiaries' amounts  of  Subordinated Debt  which  become due  and  remain
 unpaid plus  the  amount of  the  Borrower's and  its  Subsidiaries'  actual
 payment of  Subordinated  Debt,  shall not  exceed  interest  only  on  such
 Subordinated Debt  in amounts  not exceeding  the amounts  permitted by  the
 applicable subordination agreements with respect to such Subordinated Debt.

      6.25 Advances to Affiliates.  Borrower shall  not make any advances  to
 its Affiliates.

      6.26 Consulting  Services.    Borrower  shall  at  Borrower's   expense
 continually engage  the services  of Abrams  and Jossel  Consulting Inc.  to
 prepare and  deliver  to  Lender  Borrower's  consolidated  monthly  balance
 sheets, income statements  and cash flow  projections for  the remainder  of
 Fiscal Years 2001 and 2002, no later than October 31, 2001.

                                 ARTICLE VII

                                   DEFAULTS

      The occurrence  of  any one  or  more  of the  following  events  shall
 constitute a Default:

      7.1  Any representation or  warranty made (or  deemed made pursuant  to
 Article IV) by or on behalf  of the Borrower or  any of its Subsidiaries  to
 the Lenders,  the Lender  or the  Lender under  or in  connection with  this
 Agreement, any Loan,  any Facility Letter  of Credit or  any certificate  or
 information delivered in connection  with this Agreement  or any other  Loan
 Document shall be false in any material respect on the date as of which made
 (or deemed made).

      7.2  Nonpayment of  principal  of  any Note  or  of  any  Reimbursement
 Obligation when due  (or in  the case  of any  Reimbursement Obligation  due
 pursuant to Section 2.3.5(a)(ii)(B), upon demand), or nonpayment of interest
 upon any Note  or of any  facility fee, Lender  fee, Issuance  Fee or  other
 obligations (other than Reimbursement Obligations which have been  converted
 into Advances pursuant  to Section 2.3.5(a)(ii)(A))  under any  of the  Loan
 Documents within three (3) days after the same becomes due.

      7.3  The breach by the  Borrower of any of  the terms or provisions  of
 Sections 6.2, 6.3,  6.6, 6.10,  6.11, 6.12,  6.13, 6.14,  6.15, 6.16,  6.17,
 6.19, 6.20, 6.23, 6.24 and 6.25.

      7.4  The breach by the Borrower (other than a breach which  constitutes
 a Default under Section 7.1, 7.2 or 7.3)  of any of the terms or  provisions
 of this  Agreement which  is not  remedied within  fifteen (15)  days  after
 written notice from the Lender.

      7.5  Failure of the Borrower or any of its Subsidiaries to pay when due
 any Indebtedness to any of the  Lenders or any other Indebtedness in  excess
 of, singly or in the aggregate, $150,000 (any such Indebtedness being herein
 defined as "Material Indebtedness"); or the  default by the Borrower or  any
 of its Subsidiaries in the performance  of any term, provision or  condition
 contained in any agreement  under which any  such Material Indebtedness  was
 created or is governed, or any  other event shall occur or condition  exist,
 the effect of which is to cause, or to permit the holder or holders of  such
 Material Indebtedness to  cause, such  Material Indebtedness  to become  due
 prior to its stated maturity; or  any Material Indebtedness of the  Borrower
 or any  of its  Subsidiaries shall  be declared  to be  due and  payable  or
 required to be prepaid or repurchased  (other than by a regularly  scheduled
 payment) prior to the stated maturity thereof; or the Borrower or any of its
 Subsidiaries shall not pay,  or admit in writing  its inability to pay,  its
 debts generally as they become due.

      7.6  The Borrower or any  of its Subsidiaries shall  (i) have an  order
 for relief entered with respect to  it under the Federal bankruptcy laws  or
 the laws  of  any other  jurisdiction  relating to  bankruptcy,  insolvency,
 reorganization or relief of debtors as now or hereafter in effect, (ii) make
 an assignment for the benefit of  creditors, (iii) apply for, seek,  consent
 to, or  acquiesce in,  the appointment  of a  receiver, custodian,  trustee,
 examiner, liquidator or similar official for  it or any Substantial  Portion
 of its Property, (iv) institute any  proceeding seeking an order for  relief
 under the Federal  bankruptcy laws  or the  laws of  any other  jurisdiction
 relating to bankruptcy, insolvency, reorganization  or relief of debtors  as
 now or  hereafter  in effect  or  seeking to  adjudicate  it a  bankrupt  or
 insolvent, or seeking dissolution, winding up, liquidation,  reorganization,
 arrangement, adjustment or  composition of  it or  its debts  under any  law
 relating to bankruptcy, insolvency or reorganization or relief of debtors or
 fail to file an answer or other pleading denying the material allegations of
 any such  proceeding filed  against it,  (v) take  any corporate  action  to
 authorize or effect any of the  foregoing actions set forth in this  Section
 7.6 or (vi)  fail to  contest in good  faith any  appointment or  proceeding
 described in Section 7.7.

      7.7  Without the application,  approval or consent  of the Borrower  or
 any of  its  Subsidiaries,  a receiver,  trustee,  examiner,  liquidator  or
 similar official  shall  be  appointed  for  the  Borrower  or  any  of  its
 Subsidiaries or any  Substantial Portion of  its Property,  or a  proceeding
 described in Section 7.6(iv) shall be instituted against the Borrower or any
 of its  Subsidiaries and  such appointment  continues undischarged  or  such
 proceeding continues undismissed or unstayed for a period of 90  consecutive
 days.

      7.8  Any court, government or governmental agency shall condemn,  seize
 or  otherwise  appropriate,  or   take  custody  or   control  of  (each   a
 "Condemnation"), all or any portion of the Property of the Borrower and  its
 Subsidiaries which,  when taken  together with  all  other Property  of  the
 Borrower and its Subsidiaries so  condemned, seized, appropriated, or  taken
 custody or control of, during the twelve-month period ending with the  month
 in which any such Condemnation occurs, constitutes a Substantial Portion.

      7.9  The Borrower  or any  of its  Subsidiaries fail  to pay,  bond  or
 otherwise discharge within 30 days  any judgment or order for the payment of
 money not covered  by Borrower's insurance  in excess of,  singly or in  the
 aggregate, $500,000,  which  is not  stayed  on appeal  or  otherwise  being
 appropriately contested in good faith and as to which no enforcement actions
 have been commenced.

      7.10 The Unfunded Liabilities of all Single Employer Plans shall exceed
 in the aggregate $500,000 or any Reportable Event shall occur in  connection
 with any Benefit Plan which could result in liability to Borrower in  excess
 of $100,000 or a Control Group Member has terminated a single employer  plan
 that could result in the imposition of a Lien on the property of  Alleghany,
 the Borrower or any Subsidiary in excess of $100,000.

      7.11 The Borrower or  any other member  of the  Controlled Group  shall
 have been  notified by  the sponsor  of  a Multiemployer  Plan that  it  has
 incurred withdrawal liability to such Multiemployer Plan in an amount which,
 when aggregated with all other amounts required to be paid to  Multiemployer
 Plans by  the  Borrower or  any  other member  of  the Controlled  Group  as
 withdrawal liability  (determined  as of  the  date of  such  notification),
 exceeds $500,000.

      7.12 The Borrower or  any other member  of the  Controlled Group  shall
 have been  notified  by  the  sponsor of  a  Multiemployer  Plan  that  such
 Multiemployer Plan is in reorganization or  is being terminated, within  the
 meaning of Title  IV of  ERISA, if  as a  result of  such reorganization  or
 termination the aggregate annual contributions of the Borrower and the other
 members of the  Controlled Group  (taken as  a whole)  to all  Multiemployer
 Plans which are then in reorganization or being terminated have been or will
 be increased over the  amounts contributed to  such Multiemployer Plans  for
 the respective  plan  years  of each  such  Multiemployer  Plan  immediately
 preceding the plan year in which the reorganization or termination occurs by
 an amount exceeding $100,000.

      7.13 The Borrower or  any other member  of the  Controlled Group  shall
 terminate a Single Employer  Plan resulting in  Unfunded Liabilities to  the
 Borrower in excess of $500,000.

      7.14 The Borrower or  any other member  of the  Controlled Group  shall
 incur liability for a  violation of ERISA  or the Code  with respect to  any
 Benefit Plan which exceeds $250,000.

      7.15 The Borrower or any  of its Subsidiaries shall  be the subject  of
 any proceeding  pertaining to  the release  by the  Borrower or  any of  its
 Subsidiaries, or  any  other Person  of  any  toxic or  hazardous  waste  or
 substance into the environment,  or any violation of  any federal, state  or
 local environmental, health or  safety law or  regulation, which, in  either
 case, could reasonably be expected to have a Material Adverse Effect.

      7.16 [Intentionally Omitted].

      7.17 Nonpayment by the Borrower or any of its Subsidiaries of any  Rate
 Hedging Obligation when due or the default or breach by the Borrower or  any
 of its Subsidiaries  of any term,  provision or condition  contained in  any
 Rate Hedging Agreement,  which default  or breach  continues (without  being
 waived) beyond any period of grace therein provided.

      7.18 The occurrence of any "default", as  defined in any Loan  Document
 (other than this Agreement or the Notes) or  the breach of any of the  terms
 or provisions  of  any Loan  Document  (other than  this  Agreement),  which
 default or breach continues beyond any period of grace therein provided  and
 has not been waived.

      7.19 Any  of  the   Subordination  Agreements   or  the   subordination
 provisions of any agreement or instrument governing any Subordinated Debt is
 for any reason  revoked or  invalidated, or otherwise  cease to  be in  full
 force and  effect,  any  Person  contests in  any  manner  the  validity  or
 enforceability thereof  or  denies that  it  has any  further  liability  or
 obligation thereunder,  or  the Indebtedness  hereunder  is for  any  reason
 subordinated or does not have the priority contemplated by this Agreement or
 the Subordination Agreement or such subordination provisions.

      7.20 Enforceability of Loan Documents.  Either:

           (i)  any material provision  of any  Loan Document  shall for  any
      reason cease to  be valid  and binding  on or  enforceable against  the
      Company or any Subsidiary party thereto, the Company or any  Subsidiary
      shall so state in writing or  bring an action to limit its  obligations
      or liabilities thereunder; or

           (ii) any Loan Document shall for  any reason (other than  pursuant
      to the terms thereof) cease to create a valid security interest in  the
      collateral purported to  be covered thereby  or such security  interest
      shall for  any  reason cease  to  be  a perfected  and  first  priority
      security interest subject only to Permitted Liens.

                                 ARTICLE VIII

                    ACCELERATION, AMENDMENTS AND REMEDIES

      8.1  Acceleration.   If any  Default described  in Section  7.6 or  7.7
 occurs with respect to the Borrower,  the obligations of the Lender to  make
 Loans and to participate  in Facility Letters of  Credit hereunder, and  the
 obligation of  the Lender  to issue  Facility Letters  of Credit  hereunder,
 shall automatically terminate and  the Obligations shall immediately  become
 due and payable without any  election or action on  the part of the  Lender.
 If any other  Default occurs, the  Lender (i) may  terminate or suspend  its
 obligation to make Loans, (ii) may  terminate or suspend the obligations  of
 the Lender  to issue  Facility Letters  of  Credit hereunder,  and/or  (iii)
 declare the Obligations  to be due  and payable,  whereupon the  Obligations
 shall become  immediately  due  and payable,  without  presentment,  demand,
 protest or notice of  any kind, all of  which the Borrower hereby  expressly
 waives.

      8.2  Preservation of Rights.   No delay  or omission of  the Lender  to
 exercise any right under  the Loan Documents shall  impair such right or  be
 construed to be a waiver of any Default or an acquiescence therein, and  the
 making of a Loan or issuance of a Facility Letter of Credit  notwithstanding
 the existence of a Default or the  inability of the Borrower to satisfy  the
 conditions precedent  to  such  Loan shall  not  constitute  any  waiver  or
 acquiescence.  Any single  or partial exercise of  any such right shall  not
 preclude other or  further exercise  thereof or  the exercise  of any  other
 right, and no waiver, amendment or other variation of the terms,  conditions
 or provisions of  the Loan  Documents whatsoever  shall be  valid unless  in
 writing signed by the Lender,  and then only to  the extent in such  writing
 specifically set forth.  All remedies contained in the Loan Documents or  by
 law afforded shall be cumulative and  all shall be available to the  Lender,
 until the Obligations have been paid in full.

                                  ARTICLE IX

                              GENERAL PROVISIONS

      9.1  Survival of Representations.   All representations and  warranties
 of the Borrower contained  in this Agreement shall  survive delivery of  the
 Notes and the making of the Loans  and the issuance of the Facility  Letters
 of Credit herein contemplated.

      9.2  Governmental Regulation.  Anything contained in this Agreement  to
 the contrary notwithstanding, no Lender shall be obligated to extend  credit
 to the Borrower or participate in Facility Letters of Credit in violation of
 any  limitation  or  prohibition  provided  by  any  applicable  statute  or
 regulation.

      9.3  Taxes.   Any taxes  (excluding Excluded  Taxes) or  other  similar
 assessments or  charges made  by any  governmental or  revenue authority  in
 respect of the Loan Documents shall  be paid by the Borrower, together  with
 interest and penalties, if  any unless contested by  Borrower in good  faith
 with appropriate reserves.

      9.4  Headings.    Section  headings  in  the  Loan  Documents  are  for
 convenience of reference only,  and shall not  govern the interpretation  of
 any of the provisions of the Loan Documents.

      9.5  Entire Agreement;  Termination  of  Prior  Agreement.    The  Loan
 Documents embody the  entire agreement and  understanding between among  the
 Borrower  and   the  Lender   and  supersede   all  prior   agreements   and
 understandings between the Borrower and the  Lender relating to the  subject
 matter thereof.   Upon execution  and delivery  of the  Loan Documents,  the
 Amended and Restated Loan Agreement dated as of September 1, 2000 between W-
 G and Lender shall terminate except for those terms therein which  expressly
 survive termination.

      9.6  Benefits of this Agreement.  This Agreement shall not be construed
 so as to confer any right or benefit upon any Person other than the  parties
 to this Agreement and their respective successors and assigns.

      9.7  Expenses; Indemnification.    The  Borrower  shall  reimburse  the
 Lender for any costs, internal charges and out-of-pocket expenses  including
 reasonable attorneys' fees paid or incurred by the Lender in connection with
 the  preparation,  negotiation,  execution,  delivery,  review,   amendment,
 modification, and administration of the Loan  Documents.  The Borrower  also
 agrees  to  reimburse  the  Lender  for  any  costs,  internal  charges  and
 out-of-pocket expenses including reasonable attorneys' fees paid or incurred
 by the Lender, in connection with the collection and enforcement of the Loan
 Documents.  The Borrower further agrees  to indemnify the Lender, and  their
 respective directors,  officers and  employees against  all losses,  claims,
 damages, penalties, judgments, liabilities and expenses (including,  without
 limitation, all expenses  of litigation or  preparation therefor whether  or
 not the  Lender is  a party  thereto) which  any of  them may  pay or  incur
 arising out of or relating to this Agreement, the other Loan Documents,  the
 transactions contemplated  hereby  or  thereby or  the  direct  or  indirect
 application or  proposed application  of the  proceeds of  any Loan  or  the
 direct or indirect  use or  intended use of  any Facility  Letter of  Credit
 hereunder except  to the  extent  that they  have  resulted from  the  gross
 negligence or willful misconduct of the party seeking indemnification.   The
 obligations of the Borrower under this Section shall survive the termination
 of this  Agreement  for  a  period  of 365  days,  provided  that  any  such
 obligation discovered or asserted during such  365 day period shall  survive
 thereafter.

      9.8  [Intentionally Omitted].

      9.9  Accounting.   Except  as  provided to  the  contrary  herein,  all
 accounting terms  used  herein  shall  be  interpreted  and  all  accounting
 determinations hereunder shall be made in accordance with GAAP, except  that
 any calculation or determination which is to be made on a consolidated basis
 shall be made  for the Borrower  and all its  Subsidiaries, including  those
 Subsidiaries, if any,  which are  unconsolidated on  the Borrower's  audited
 financial statements.

      9.10 Severability of Provisions.   Any provision  in any Loan  Document
 that  is  held  to  be  inoperative,   unenforceable,  or  invalid  in   any
 jurisdiction shall, as to that jurisdiction, be inoperative,  unenforceable,
 or invalid without affecting the  remaining provisions in that  jurisdiction
 or the operation, enforceability, or validity of that provision in any other
 jurisdiction, and  to this  end the  provisions of  all Loan  Documents  are
 declared to be severable.

      9.11 Nonliability of Lender.  The relationship between the Borrower and
 the Lender shall be solely that of borrower and lender. The Lender shall not
 have any fiduciary responsibilities  to the Borrower.   The Lender does  not
 undertake any  responsibility  to  the Borrower  to  review  or  inform  the
 Borrower of  any matter  in  connection with  any  phase of  the  Borrower's
 business or  operations.   The  Borrower agrees  the  Lender shall  have  no
 liability to the Borrower (whether sounding in tort, contract or  otherwise)
 for losses suffered by the Borrower  in connection with, arising out of,  or
 in any way related  to, the transactions  contemplated and the  relationship
 established by the Loan Documents, or  any act, omission or event  occurring
 in connection therewith,  unless it is  determined by a  court of  competent
 jurisdiction in a final and non-appealable  order that such losses  resulted
 from the gross  negligence or  willful misconduct  of the  party from  which
 recovery is sought.

                                  ARTICLE X

                                    SETOFF

      10.1 Setoff.  In addition to, and without limitation of, any rights  of
 the Lender under applicable law, if  the Borrower or any Subsidiary  becomes
 insolvent, however evidenced  or any Default  occurs, any  and all  deposits
 (including all account balances, whether provisional or final and whether or
 not collected or available) and any  other Indebtedness at any time held  or
 owing by Lender  to or  for the credit  or account  of the  Borrower or  any
 Subsidiary may be offset and applied  toward the payment of the  Obligations
 owing to Lender, whether or not  the Obligations, or any part hereof,  shall
 then be due.

                                  ARTICLE XI

               BENEFIT OF AGREEMENT; ASSIGNMENTS; PARTICIPATION

      11.1 Successors and  Assigns.   The terms  and provisions  of the  Loan
 Documents shall be binding upon and inure to the benefit of the Borrower and
 the Lender and their respective successors and assigns, except that (i)  the
 Borrower shall  not have  the right  to assign  their respective  rights  or
 obligations under the Loan Documents.   Lender may at any time, without  the
 consent of the Borrower, assign all or any portion of its rights under  this
 Agreement and its Notes to a  Federal Reserve Bank; provided, however,  that
 no such assignment to  a Federal Reserve Bank  shall release the  transferor
 Lender from its obligations  hereunder.  The Lender  may treat the payee  of
 any Note as the owner thereof for all purposes hereof unless and until  such
 payee complies with Section 12.3 in the case of an assignment thereof or, in
 the case of any other  transfer, a written notice  of the transfer is  filed
 with the Lender.  Any assignee or transferee of a Note agrees by  acceptance
 thereof to be bound by all the  terms and provisions of the Loan  Documents.
 Any request, authority or consent of any  Person, who at the time of  making
 such request or giving such authority or consent is the holder of any  Note,
 shall be  conclusive and  binding on  any subsequent  holder, transferee  or
 assignee of such Note or of any Note or Notes issued in exchange therefor.

      11.2 Assignments; Participations.  (a) The Lender shall have the  right
 to assign to  one or more  banks or other  financial institutions  all or  a
 portion of  its  rights and  obligations  under this  Agreement  (including,
 without limitation, all or a portion  of the Commitment, the Loans, and  the
 Notes) and the Loan Documents.   Upon any such assignment, (i) the  assignee
 shall become a party hereto and, to the extent of such assignment, have  all
 rights and obligations of the Lender hereunder and under the Loan Documents,
 and (ii) the Lender shall, to the extent of such assignment, relinquish  its
 rights and be  released from its  obligations hereunder and  under the  Loan
 Documents.    The  Borrower  hereby  agrees  to  execute  and  deliver  such
 documents, and to  take such  other actions,  as the  Lender may  reasonably
 request to accomplish the foregoing.

           (b)  In addition  to the  assignments permitted  in clause (a)  of
 this Section 11.2, the Lender and any assignee pursuant to clause (a)  above
 shall have the right to grant participations, to one or more banks or  other
 financial institutions in or to any Loan hereunder (and the Loan  Documents)
 and any  Note held  by the  Lender or  such assignee  without notice  to  or
 consent from the Borrower.  No holder of a participation in all or any  part
 of the Loans (and  the Loan Documents)  or the Notes  shall have any  rights
 under this Agreement; provided,  however, that, to  the extent permitted  by
 applicable law, each holder of a participation shall have the same rights as
 the Lender under Section 10.1.

      11.3 (c)  The  Borrower  hereby  consents  to  the  disclosure  of  any
 information obtained in connection herewith (i) by the Lender, to any Lender
 or other financial institution  which is an  assignee or potential  assignee
 pursuant to  clause (a)  above, and  (ii) by  the Lender  and  any  assignee
 pursuant to clause (a)  above, to any  bank or  other financial  institution
 which is  a  participant or  potential  participant pursuant  to  clause (b)
 above, it being understood  that the Lender and  each assignee shall  advise
 any such  bank or  other financial  institution of  its obligation  to  keep
 confidential any  nonpublic information  disclosed to  it pursuant  to  this
 Section 14.13.  The Lender shall advise  the Borrower of each bank or  other
 financial institution  which  becomes  an assignee  pursuant  to  clause (a)
 above, and the  Lender and each  assignee, as applicable,  shall advise  the
 Borrower of  each  bank  or other  financial  institution  which  becomes  a
 participant pursuant to clause (b) above.

                                 ARTICLE XII

                                   NOTICES

      12.1 Notices.  Except  as otherwise  permitted by  Section 2.4.10  with
 respect to borrowing notices, all notices, requests and other communications
 to any party  hereunder shall  be in  writing (including  bank wire,  telex,
 facsimile transmission or similar writing) and shall be given to such party:
 (x) in the case of the Borrower,  at its address, facsimile number or  telex
 number set forth  on the  signature pages  hereof with  a copy  to David  J.
 Kaufman, at  Katten, Muchin,  Zavis, 525  West  Monroe Street,  Suite  1600,
 Chicago, Illinois 60661,  (y) in  the case of  the Lender,  at its  address,
 facsimile number or telex number set forth on the signature page hereto with
 a copy to Joel M. Hurwitz, at Neal,  Gerber & Eisenberg, Two North La  Salle
 Street, Suite  2200, Chicago,  Illinois 60602,  or (z)  in the  case of  any
 party, such other address,  facsimile number or telex  number as such  party
 may hereafter  specify for  the purpose  by  notice to  the Lender  and  the
 Borrower.   Each  such  notice, request  or  other  communication  shall  be
 effective (i) if given by telex, when such telex is transmitted to the telex
 number specified in this Section and the appropriate answerback is received,
 (ii) if given by facsimile transmission,  when transmitted to the  facsimile
 number specified in this  Section and confirmation  of receipt is  received,
 (iii) if given by mail, three (3) Business Days after such communication  is
 deposited in  the  mails with  first  class postage  prepaid,  addressed  as
 aforesaid or (iv) if given by any other means, when delivered at the address
 specified in this Section; provided that notices to the Lender under Article
 II shall not be effective until received.

      12.2 Change of Address.   The Borrower and Lender  may each change  the
 address for service of notice upon  it by a notice  in writing to the  other
 parties hereto.

                                 ARTICLE XIII

                                 COUNTERPARTS

      This Agreement may be executed in any number of counterparts and by the
 different parties hereto  on separate counterparts,  each of  which when  so
 executed and delivered shall be an original, but all of which shall together
 constitute one and the same instrument.   This Agreement shall be  effective
 when it has been executed by the Borrower and the Lender.  A complete set of
 counterparts executed by all the parties hereto shall be lodged with each of
 the Borrower and the Lender.

                                 ARTICLE XIV

   CHOICE OF LAW, CONSENT TO JURISDICTION, WAIVER OF JURY TRIAL, JOINT AND
                             SEVERAL OBLIGATIONS

      14.1 Choice of Law.  THE LOAN DOCUMENTS (OTHER THAN THOSE CONTAINING  A
 CONTRARY EXPRESS CHOICE OF LAW PROVISION)  SHALL BE CONSTRUED IN  ACCORDANCE
 WITH THE  INTERNAL LAWS  (AND NOT  THE LAW  OF CONFLICTS)  OF THE  STATE  OF
 ILLINOIS, BUT GIVING EFFECT TO FEDERAL LAWS APPLICABLE TO NATIONAL BANKS.

      14.2 Consent to Jurisdiction.   THE PARTIES  HERETO HEREBY  IRREVOCABLY
 SUBMIT TO THE  NON-EXCLUSIVE JURISDICTION OF  ANY UNITED  STATES FEDERAL  OR
 ILLINOIS  STATE  COURT  SITTING  IN  CHICAGO,  ILLINOIS  IN  ANY  ACTION  OR
 PROCEEDING ARISING OUT OF OR RELATING TO ANY LOAN DOCUMENTS AND THE  PARTIES
 HERETO HEREBY IRREVOCABLY AGREE THAT ALL CLAIMS IN RESPECT OF SUCH ACTION OR
 PROCEEDING MAY BE  HEARD AND DETERMINED  IN ANY SUCH  COURT AND  IRREVOCABLY
 WAIVE ANY OBJECTION ANY OF THEM MAY NOW OR HEREAFTER HAVE AS TO THE VENUE OF
 ANY SUCH SUIT, ACTION  OR PROCEEDING BROUGHT  IN SUCH A  COURT OR THAT  SUCH
 COURT IS AN  INCONVENIENT FORUM.   ANY JUDICIAL PROCEEDING  BY THE  BORROWER
 AGAINST THE LENDER  OR ANY AFFILIATE  OF THE LENDER  INVOLVING, DIRECTLY  OR
 INDIRECTLY, ANY MATTER IN ANY WAY  ARISING OUT OF, RELATED TO, OR  CONNECTED
 WITH ANY  LOAN  DOCUMENT  SHALL BE  BROUGHT  ONLY  IN A  COURT  IN  CHICAGO,
 ILLINOIS.

      14.3 Waiver of Jury Trial.   THE PARTIES HERETO  HEREBY WAIVE TRIAL  BY
 JURY IN  ANY  JUDICIAL PROCEEDING  INVOLVING,  DIRECTLY OR  INDIRECTLY,  ANY
 MATTER (WHETHER SOUNDING IN TORT, CONTRACT OR OTHERWISE) IN ANY WAY  ARISING
 OUT OF, RELATED TO, OR CONNECTED WITH ANY LOAN DOCUMENT OR THE  RELATIONSHIP
 ESTABLISHED THEREUNDER).

      14.4 Joint and Several  Obligations.  All  obligations of the  Borrower
 hereunder  and  under  the  Loan  documents  shall  be  joint  and   several
 obligations of W-G and AGE.

                  [BALANCE OF PAGE INTENTIONALLY LEFT BLANK]

<PAGE>

      IN WITNESS WHEREOF, the Borrower and the Lender have executed this
 Agreement as of the date first above written.

                               BORROWER:

                               WELLS-GARDNER ELECTRONICS CORPORATION, an
                               Illinois corporation

                               By:  ______________________________________
                                  Print Name:
                                  Title:

                                  Address:  9500 West 55th Street, Suite A
                                            McCook, Illinois 60525-3605
                                  Telephone No.:
                                  Telecopier No.:

                               AMERICAN GAMING & ELECTRONICS, INC., a Nevada
                               corporation

                               By:  ______________________________________
                                  Print Name:
                                  Title:

                                  Address:  9500 West 55th Street, Suite A
                                            McCook, Illinois 60525-3605
                                  Telephone No.:
                                  Telecopier No.:

                               LENDER:

                               AMERICAN NATIONAL BANK AND TRUST COMPANY OF
                               CHICAGO

                               By:  ______________________________________
                                  Print Name:
                                  Title:

                                  Address:  120 South La Salle Street
                                            Chicago, Illinois 60603
                                            Attention:  Terry Lynch
                                                       or
                                  Linda Mikutis
                                  Telephone No.:  (312) 661-6881

                                  Terry Lynch
                                                  (312) 661-6479

                                  Linda Mikutis
                                  Telecopier No.:  (312) 661-6828 (for both)

<PAGE>

                                 SCHEDULE 5.5

                 Material Adverse Changes since June 30, 2001

                                     None

                                 SCHEDULE 5.6

                      Exceptions to Tax Representations

                                     none

                                 SCHEDULE 5.7

                              Pending Litigation

                                     none

                                 SCHEDULE 5.8

                           Borrower's Subsidiaries

                    Wells-Gardner Electronics Corporation:

                     American Gaming & Electronics, Inc.,
      a wholly owned subsidiary of Wells-Gardner Electronics Corporation

                         Wells Eastern Asia Displays,
                       a 50% joint venture in Malaysia

                     American Gaming & Electronics, Inc.:

                                     none

                                 SCHEDULE 5.9

     Exceptions to ERISA Representation with respect to Plan Withdrawals

                                     none

                                SCHEDULE 5.14

       Exceptions to Representation Concerning Ownership of Properties

                                     none

                                SCHEDULE 5.15

        Exceptions to Representation Concerning Environmental Matters

                                     none

                                SCHEDULE 6.12

                            Permitted Indebtedness

              (not otherwise described in the Credit Agreement)

                                     none

                             SCHEDULE 6.15(viii)

                     Description of Existing Investments

              (not otherwise described in the Credit Agreement)

                                     none

                                SCHEDULE 6.18

                         Transactions with Affiliates

                    Wells-Gardner Electronics Corporation:

      Intercompany Sales and Purchases between Wells-Gardner Electronics
                                 Corporation

                                     and

                      American Gaming & Electronics, Inc.

      Intercompany Sales and Purchases between Wells-Gardner Electronics
                                 Corporation

                                     and

                         Wells Eastern Asia Displays

                     American Gaming & Electronics, Inc:

 Intercompany sales and Purchases between American Gaming & Electronics, Inc.

                                     and

                    Wells-Gardner Electronics Corporation

  Exhibits to the Secured Credit Agreement between Wells-Gardner Electronics
             Corporation and American Gaming & Electronics, Inc.

                                  EXHIBIT A

                        Form of Compliance Certificate

  Exhibits to the Secured Credit Agreement between Wells-Gardner Electronics
             Corporation and American Gaming & Electronics, Inc.

                                  EXHIBIT B

                     Form of Revolving Note and Term Note

  Exhibits to the Secured Credit Agreement between Wells-Gardner Electronics
             Corporation and American Gaming & Electronics, Inc.

                                  EXHIBIT C

                          Form of Security Agreement

  Exhibits to the Secured Credit Agreement between Wells-Gardner Electronics
             Corporation and American Gaming & Electronics, Inc.

                                  EXHIBIT D

                  Form of Facility Letter of Credit Request

  Exhibits to the Secured Credit Agreement between Wells-Gardner Electronics
             Corporation and American Gaming & Electronics, Inc.

                                  EXHIBIT E

               Form of Opinion of Outside Counsel For Borrower

  Exhibits to the Secured Credit Agreement between Wells-Gardner Electronics
             Corporation and American Gaming & Electronics, Inc.

                                  EXHIBIT F

                 Form of Written Money Transfer Instructions

  Exhibits to the Secured Credit Agreement between Wells-Gardner Electronics
             Corporation and American Gaming & Electronics, Inc.

                                  EXHIBIT G

                        Form of Stock Pledge Agreement

  Exhibits to the Secured Credit Agreement between Wells-Gardner Electronics
             Corporation and American Gaming & Electronics, Inc.

                                  EXHIBIT H

                          Borrowing Base Certificate

  Exhibits to the Secured Credit Agreement between Wells-Gardner Electronics
             Corporation and American Gaming & Electronics, Inc.

                                  EXHIBIT I

                Authorization to File UCC Financing Statements

<PAGE>

                                                               EXECUTION COPY

           FIRST AMENDMENT TO SECURED CREDIT AGREEMENT DATED AS  OF
           AUGUST 31,  2001  (AS AMENDED  FROM  TIME TO  TIME,  THE
           "AGREEMENT"), BY AND  BETWEEN WELLS-GARDNER  ELECTRONICS
           CORPORATION,  AN  ILLINOIS   CORPORATION  ("W-G"),   AND
           AMERICAN  GAMING   &   ELECTRONICS,   INC.,   A   NEVADA
           CORPORATION ("AGE"), ((W-G AND AGE HEREIN TOGETHER  WITH
           THEIR SUCCESSORS AND ASSIGNS (IF, AND AS PERMITTED UNDER
           THE AGREEMENT)) ARE REFERRED TO JOINTLY AND INDIVIDUALLY
           AS THE "BORROWER") AND AMERICAN NATIONAL BANK AND  TRUST
           COMPANY OF CHICAGO (THE "BANK")

      This First Amendment to the Agreement ("Amendment") is entered into  as

 of September 6, 2001 by and between the Borrower and the Bank.

      All capitalized terms stated in this  Amendment and not defined  herein

 shall have the same meaning as set forth in the Agreement.

      WHEREAS, the Company and the Bank have agreed to amend the Agreement by

 reducing the Aggregate Revolving Commitment to $11,000,000 as stated herein.

 Now, therefore, in consideration of the fulfillment of each of the terms and

 conditions set forth herein, the parties hereto agree as follows:

           Section 1.     Amendments to Agreement.

           a.   The definition of "Aggregate Revolving Commitment" stated  in

 Section 1.1 of the Agreement is  amended to delete the number  "$12,000,000"

 therefrom and substitute therefor the number "$11,000,000".

           b.   The definition of "Borrowing Base"  stated in Section 1.1  of

 the Agreement is amended  to delete the  number "$12,000,000" therefrom  and

 substitute therefor the number "$11,000,000".

           c.   Section 2.1.4(a) of  the Agreement is  amended to delete  the

 number  "$12,000,000"   therefrom  and   substitute  therefor   the   number

 "$11,000,000".

           d.   The definition of  Revolving Note stated  in Section 1.1  and

 2.1.4(a) of the Agreement  is amended to include  the note substantially  in

 the form of  the Amended  and Restated  Revolving Note  attached hereto  and

 incorporated herein.

           Section 2.     Representations  and  Warranties.    The   Borrower

 represents and warrants that:

      a.   The representations and warranties contained in the Agreement  are

 true and correct in all material respects on and as of the date hereof as if

 such representations and  warranties had  been made on  and as  of the  date

 hereof (except to the extent any  such representation or warranty is  stated

 to relate solely to  an earlier date, in  which case such representation  or

 warranty is true  and correct in  all material respects  on and  as of  such

 earlier date); and

      b.   The Borrower is in  compliance with all  the terms and  provisions

 set forth in the Agreement and no Default or Unmatured Default has  occurred

 and is continuing.

      Section 3.     Conditions to Effectiveness.  This Amendment is  subject

 to the satisfaction in full of the following conditions precedent:

      a.   The  Lender  shall  have  received  executed  originals  of   this

 Amendment;

      b.   The Lender shall  have received an  executed Amended and  Restated

 Revolving Note; and

      c.   All legal matters incident to  this Amendment shall be  reasonably

 satisfactory to Neal, Gerber & Eisenberg, counsel for the Bank.

      Section 4.     Full Force  and Effect.    Except as  expressly  amended

 herein, the  Agreement  and  the Loan  Documents  are  hereby  ratified  and

 confirmed, and shall continue  in full force and  effect in accordance  with

 the provisions thereof on the date hereof.  As used in the Agreement and the

 Loan  Documents,  the   terms  "Agreement",   "this  Agreement",   "herein",

 "hereafter", "hereto", "hereof", and words of similar import, shall,  unless

 the context  otherwise  requires, mean  the  Agreement as  amended  by  this

 Amendment, and the term  "Revolving Note" or "Note"  shall mean and  include

 the Amended and Restated Revolving Note  substantially in the form  attached

 hereto.

      Section 5.     APPLICABLE LAW.  THIS AMENDMENT SHALL BE GOVERNED BY AND

 CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF ILLINOIS.

      Section 6.     Counterparts.  This Amendment may be executed in two  or

 more counterparts, each of  which shall constitute an  original, but all  of

 which when taken together shall constitute one instrument.

      Section 7.     Headings.  The  headings of this  Amendment are for  the

 purposes of reference  only and shall  not affect the  construction of  this

 Amendment.

      IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be

 duly executed by their duly authorized officers, all as of the date and year

 first above written.

                               BORROWER:
                               ---------

                               WELLS-GARDNER ELECTRONICS CORPORATION, an
                               Illinois corporation

                               By:  ________________________________________

                               Its: ________________________________________

                               AMERICAN GAMING & ELECTRONICS, INC., a Nevada
                               corporation

                               By:  ________________________________________

                               Its: ________________________________________

                               LENDER:
                               -------

                               AMERICAN NATIONAL BANK AND TRUST COMPANY OF
                               CHICAGO

                               By:  ________________________________________

                               Its: ________________________________________

<PAGE>

                     AMENDED AND RESTATED REVOLVING NOTE
                     -----------------------------------

 $11,000,000.00               Chicago, Illinois             September 6, 2001

      FOR  VALUE   RECEIVED,  the   undersigned,  WELLS-GARDNER   ELECTRONICS
 CORPORATION,  an  Illinois  corporation   ("W-G")  and  AMERICAN  GAMING   &
 ELECTRONICS, INC., a Nevada corporation ("AGE") (W-G and AGE are referred to
 herein both individually  and jointly as  "Borrower") jointly and  severally
 promise to pay to the order of  American National Bank and Trust Company  of
 Chicago ("Bank"), at  Bank's principal office  at 120  South LaSalle  Street
 Chicago, Illinois 60603 or at  such other place or  places as Bank may  from
 time to time designate in writing,  the principal sum of Eleven Million  and
 No/100 Dollars ($11,000,000.00) or so much thereof as may from time to  time
 be advanced hereunder,  with interest on  the principal balance  outstanding
 from time to  time, all  as hereinafter set  forth.   The principal  balance
 hereof may be borrowed,  repaid and borrowed again,  all in accordance  with
 the Agreement (as defined below).

      The entire principal balance  of this Note  then outstanding, plus  any
 accrued and unpaid interest thereon shall  be due and payable on August  31,
 2003, or such earlier date on which said amount shall become due and payable
 on account of acceleration by Bank (the "Maturity Date").  Borrower promises
 to pay to  Bank interest in  the amounts and  at the  times provided  below.
 Borrower agrees that, on  the Maturity Date, Borrower  will pay to Bank  the
 entire principal balance of  this Note then  outstanding, together with  all
 accrued and unpaid interest,  all penalties, charges  and late payment  fees
 hereunder.

      Except as hereinafter provided, Borrower's liabilities and  obligations
 to Bank under this Note ("Borrower's Liabilities") shall bear interest  from
 the date  hereof  until  paid at  a  daily  rate equal  to  the  daily  rate
 equivalent of the  Prime Rate  (as hereinafter  defined) per  annum or  upon
 Borrower's proper election of the LIBOR Option (as defined in the Agreement)
 at the  LIBOR Option  Rate (as  provided in  the Agreement).   All  interest
 hereunder shall be computed on the basis of the actual number of days  based
 upon a 360 day  year.  The Prime  Rate of interest  to be charged  hereunder
 shall fluctuate hereafter  from time  to time  concurrently with  and in  an
 amount equal to each increase or decrease in the Prime Rate.

      Borrower shall make successive monthly installment payments of interest
 commencing on August 31, 2001, and on the  last day of each and every  month
 thereafter through and including August 31, 2003.

      This Note evidences indebtedness incurred under, and is subject to  the
 terms and provisions of, that certain  Secured Credit Agreement dated as  of
 August 31, 2001 between  the undersigned and the  Bank (herein, as the  same
 may be  amended, modified  or supplemented  from time  to time,  called  the
 "Agreement").  The Agreement, to which reference is hereby made, sets  forth
 certain terms and provisions, including those  under which this Note may  or
 must be paid prior  to its due date  or may have  its due date  accelerated.
 Payment upon this Note is secured by the property set forth in the Agreement
 and the Loan Documents. Terms used but not otherwise defined herein are used
 herein as  defined in  the Agreement.   Any  terms of  this Note  which  are
 inconsistent with the Agreement shall be governed by the Agreement.

      If a Default shall occur, interest, in lieu of the interest hereinabove
 provided, whether or not a LIBOR Option is in effect, shall accrue hereunder
 from the date of the same until cured, if cure is allowed, at the rate of 3%
 per annum in excess of the Prime Rate in effect on the date of the  Default,
 which rate shall change when and as said Prime Rate changes, computed on the
 basis of the actual  number of days based  on a 360  day year (the  "Default
 Rate"). Such amounts  shall be part  of Borrower's Liabilities,  immediately
 due and payable by Borrower to Bank without  notice by Bank to or demand  by
 Bank of Borrower.

      Except as provided otherwise in the Agreement, Borrower may prepay  all
 or any portion of outstanding principal or interest or both under this  Note
 at any time without notice, premium  or penalty, provided that Borrower  may
 not prepay any principal subject to a LIBOR Option until the termination  of
 the  LIBOR  Interest  Period  for  which  the  LIBOR  Option  was  selected.
 Prepayments under this  Note will be  applied first, to  accrued and  unpaid
 interest and then to principal in inverse order of maturity.

      As used herein, the term "Prime Rate" shall mean the per annum rate  of
 interest announced  from time  to time  by Bank  at its  principal place  of
 business as its prime, base or equivalent rate, which may or may not be  the
 lowest rate of interest charged by Bank.

      Any check, draft or similar  item of payment by  or for the account  of
 Borrower delivered  to  Bank on  account  of Borrower's  Liabilities  shall,
 provided the  same  is honored  by  Bank  and final  settlement  thereof  is
 reflected by irrevocable credit  to Bank, be applied  by Bank on account  of
 Borrower's Liabilities when collected.

      Borrower warrants and represents  to Bank that  Borrower shall use  the
 proceeds represented by this Note solely  for proper business purposes,  and
 consistently  with  all  applicable  laws  and  statutes.  Borrower  further
 warrants and represents to Bank and covenants with Bank that Borrower is not
 in the  business  of extending  credit  for  the purpose  of  purchasing  or
 carrying margin stock  (within the  meaning of  Regulation U  issued by  the
 Board  of  Governors  of  the  Federal  Reserve  System),  and  no  proceeds
 represented by this Note will be used to purchase or carry any margin  stock
 or to extend credit to others for the purpose of purchasing or carrying  any
 margin stock.

      The occurrence of any  one of the following  events shall constitute  a
 default by  Borrower ("Default")  under  this Note:    (a) occurrence  of  a
 Default under  the  Agreement;  (b)  occurrence  of  a  Default  (after  the
 expiration of any applicable notice, grace  or cure periods) or an event  of
 Default under any agreement,  instrument or document  heretofore, now or  at
 any time or times hereafter delivered to  Bank by any guarantor (if any)  of
 Borrower's Liabilities to Bank.

      Subject to  the  terms of  the  Agreement, upon  a  Default  hereunder,
 without notice by Bank to or demand  by Bank of Borrower, all of  Borrower's
 Liabilities shall be due and payable, forthwith.  The acceptance by Bank  of
 any partial  payment  made  hereunder  after  the  time  any  of  Borrower's
 Liabilities becomes due and  payable will not establish  a custom, or  waive
 any rights of  Bank to enforce  prompt payment hereof.   Borrower and  every
 endorser  hereof  waive  presentment,  demand  and  protest  and  notice  of
 presentment, protest, default,  non-payment, maturity, release,  compromise,
 settlement, extension or renewal of this Note.

      This Note  and  Borrower's Liabilities  hereunder  are secured  by  all
 security interests,  liens and  encumbrances  heretofore, now  or  hereafter
 granted to Bank by  Borrower and/or every guarantor  (if any) of  Borrower's
 Liabilities.    Regardless  of  the  adequacy  of  any  collateral  securing
 Borrower's Liabilities hereunder,  any deposits or  other sums  at any  time
 credited by or payable or  due from Bank to  Borrower, or any monies,  cash,
 cash equivalents,  securities, instruments,  documents  or other  assets  of
 Borrower in possession or control of Bank or its bailee for any purpose  may
 in the event of a Default, be reduced to cash and applied by Bank to or set-
 off by Bank against Borrower's Liabilities hereunder.

      If at any time or times after the date of this Note, Bank:  (a) employs
 counsel for advice or other representation (i) with respect to this Note  or
 any collateral securing Borrower's Liabilities hereunder, (ii) to  represent
 Bank in any litigation, contest, dispute, suit or proceeding or to commence,
 defend or intervene or to take  any other action in  or with respect to  any
 litigation, contest,  dispute, suit  or  proceeding (whether  instituted  by
 Bank, Borrower or any other person) in  any way or respect relating to  this
 Note,  any  collateral   securing  Borrower's   Liabilities  hereunder,   or
 Borrower's affairs, or (iii) to enforce any rights of Bank against Borrower;
 (b) takes  any action  to protect,  collect,  sell, liquidate  or  otherwise
 dispose of any collateral securing Borrower's Liabilities hereunder,  and/or
 (c) attempts  to  or enforces  any  of  Bank's rights  or  remedies  against
 Borrower or any  guarantor of Borrower's  Liabilities, the reasonable  costs
 and expenses incurred  by Bank  in any  manner or  way with  respect to  the
 foregoing shall  be part  of Borrower's  Liabilities hereunder,  payable  by
 Borrower to  Bank  on  demand.   Without  limiting  the  generality  of  the
 foregoing, such expenses, costs, charges and  fees include:  (i)  reasonable
 attorneys' fees,  costs  and expenses;  (ii)  accountants' fees,  costs  and
 expenses; (iii) court  costs and  reasonable expenses;  (iv) court  reporter
 fees, costs  and expenses;  (v) long  distance telephone  charges; (vi)  air
 express and fax charges; and (vii)  reasonable expenses for travel,  lodging
 and food.

      If any provision of this Note  or the application thereof to any  party
 or circumstance is held invalid or unenforceable, the remainder of this Note
 and the application of such provision to other parties or circumstances will
 not be affected thereby and the  provisions of this Note shall be  severable
 in any such instance.

      The provisions  of this  paragraph shall  govern and  control over  any
 irreconcilably inconsistent provision contained in this Note or in any other
 document evidencing or  securing the  indebtedness evidenced  hereby.   Bank
 shall never be  entitled to receive,  collect, or apply  as interest  hereon
 (for purposes of  this paragraph,  the word  "interest" shall  be deemed  to
 include any sums treated as interest under applicable law governing  matters
 of usury and unlawful interest), any amount in excess of the Highest  Lawful
 Rate (hereinafter defined) and, in the  event Bank ever receives,  collects,
 or applies as interest any such excess, such amount which would be excessive
 interest shall be  deemed a  partial prepayment  of principal  and shall  be
 treated hereunder as such;  and, if the  principal of this  Note is paid  in
 full, any  remaining  excess  shall  forthwith be  paid  to  Borrower.    In
 determining whether or not the interest paid or payable, under any  specific
 contingency, exceeds the Highest  Lawful Rate, Borrower  and Bank shall,  to
 the maximum extent permitted under applicable law, (i) characterize any non-
 principal payment as  an expense, fee  or premium rather  than as  interest,
 (ii) exclude voluntary prepayments and the effects thereof, and (iii) spread
 the total amount of interest throughout the entire contemplated term of this

 Note, provided, that if this Note is paid and performed in full prior to the
 end of the full contemplated term  hereof, and if the interest received  for
 the actual period of existence hereof exceeds the Highest Lawful Rate,  Bank
 shall refund to Borrower the amount of  such excess or credit the amount  of
 such excess against  the principal of  this Note, and,  in such event,  Bank
 shall not be subject to any  penalties provided by any laws for  contracting
 for, charging or receiving  interest in excess of  the Highest Lawful  Rate.
 "Highest Lawful Rate" shall mean the maximum rate of interest which Bank  is
 allowed to contract for, charge, take,  reserve or receive under  applicable
 law after taking into account, to the extent required by applicable law, any
 and all relevant payments or charges hereunder.

      This Note is  a renewal and  replacement of the  Revolving Note in  the
 original principal amount of $12,000,000 made  and delivered by Borrower  to
 Bank as of August  31, 2001, and  nothing contained herein  or in the  First
 Amendment to the Agreement dated as of September 6, 2001, shall be construed
 (a) to deem  paid or  forgiven the unpaid  principal balance  of, or  unpaid
 accrued interest on,  said Revolving  Note outstanding  at the  time of  its
 renewal and replacement by this Note,  or (b) to release, cancel,  terminate
 or otherwise  adversely affect  all or  any part  of any  lien,  assignment,
 security interest  or other  encumbrance heretofore  granted to  or for  the
 benefit of the payee of said Revolving Note.

      This Note is submitted by Borrower to Bank at Bank's principal place of
 business and shall be deemed to have been made there at.  This Note shall be
 governed and controlled by the internal laws of the State of Illinois.

      TO INDUCE BANK TO ACCEPT THIS NOTE, BORROWER, IRREVOCABLY, AGREES THAT,
 SUBJECT TO BANK'S SOLE AND ABSOLUTE ELECTION, ALL ACTIONS OR PROCEEDINGS  IN
 ANY WAY, MANNER OR RESPECT, ARISING OUT OF OR FROM OR RELATED TO THIS  NOTE,
 SHALL BE LITIGATED IN COURTS HAVING SITUS WITHIN THE CITY OF CHICAGO,  STATE
 OF ILLINOIS.  BORROWER  HEREBY CONSENTS AND SUBMITS  TO THE JURISDICTION  OF
 ANY LOCAL,  STATE OR  FEDERAL  COURT LOCATED  WITHIN  SAID CITY  AND  STATE.
 BORROWER HEREBY WAIVES ANY RIGHT BORROWER MAY HAVE TO TRANSFER OR CHANGE THE
 VENUE OF ANY LITIGATION BROUGHT AGAINST BORROWER BY BANK IN ACCORDANCE  WITH
 THIS PARAGRAPH.

      All liabilities and obligations of Borrower under this Note (including,
 but not limited to, Borrower's Liabilities) are joint and several.

      BORROWER HEREBY  IRREVOCABLY WAIVES  THE RIGHT  TO TRIAL  BY JURY  WITH
 RESPECT TO ANY ACTION IN WHICH BORROWER AND BANK ARE PARTIES.

      IN WITNESS WHEREOF,  the undersigned have  executed and delivered  this
 Note pursuant to  proper authority  duly granted, as  of the  date and  year
 first above written.

                                WELLS-GARDNER

                                ELECTRONICS CORPORATION,

                                an Illinois corporation

                                By:  ________________________________________

                                Its: ________________________________________

                                AMERICAN GAMING &

                                ELECTRONICS, INC., a Nevada corporation

                                By:  ________________________________________

                                Its: ________________________________________EXHIBIT 10 (a)

                                ADDENDUM NO. 1

                                    to the

                      QUOTA SHARE RETROCESSION AGREEMENT
                           Effective:  July 1, 2000

                         entered into by and between

                 AMERICAN HALLMARK INSURANCE COMPANY OF TEXAS
                                Dallas, Texas

                                     and

                         DORINCO REINSURANCE COMPANY
                              Midland, Michigan

 IT IS HEREBY AGREED, effective January 1, 2001, that paragraph B of
 ARTICLE 9 - COMMISSION ADJUSTMENT shall be deleted and the following
 substituted therefor:

 "B.  The adjusted ceding commission shall be calculated as follows:

      1.  As respects the first Underwriting Year calculation, the following
          shall apply:

           a.   For the period from July 1, 2000 to December 31, 2000, if
                the ratio of losses incurred to premium earned is 64.5% or
                higher, then the adjusted ceding commission shall be 31.0%.
                If the ratio of losses incurred to premium earned is less
                than 64.5%, then the adjusted commission shall be determined
                by adding one percentage point to the ceding commission for
                each percentage point reduction loss ratio subject to a
                ceding commission of 41.0% at a loss ratio of 54.5% or less.
                If the ratio of losses incurred to premium earned is greater
                than 64.5% or less than 54.5%, the difference between the
                actual loss ratio and 64.5% or 54.5%, as the case may be,
                will be multiplied by the earned premium for the Underwriting
                Year and carried forward as a debit or credit to the ensuing
                Underwriting Year calculation.

           b.   For the period from January 1, 2001 to February 28, 2001, if
                the ratio of losses incurred to premium earned is 64.0% or
                higher, then the adjusted ceding commission shall be 31.0%.
                If the ratio of losses incurred to premium earned is less
                than 64.0%, then the adjusted commission shall be determined
                by adding one percentage point to the ceding commission for
                each percentage point reduction loss ratio subject to a
                ceding commission of 41.0% at a loss ratio of 54.0% or less.
                If the ratio of losses incurred to premium earned is greater
                than 64.0% or less than 54.0%, the difference between the
                actual loss ratio and 64.0% or 54.0%, as the case may be,
                will be multiplied by the earned premium for the Underwriting
                Year and carried forward as a debit or credit to the ensuing
                Underwriting Year calculation.

           c.   For the period from March 1, 2001 to June 30, 2001, if
                the ratio of losses incurred to premium earned is 69.0% or
                higher, then the adjusted ceding commission shall be 26.0%.
                If the ratio of losses incurred to premium earned is less
                than 69.0%, then the adjusted commission shall be determined
                by adding one percentage point to the ceding commission for
                each percentage point reduction loss ratio subject to a
                ceding commission of 41.0% at a loss ratio of 54.0% or less.
                If the ratio of losses incurred to premium earned is greater
                than 69.0% or less than 54.0%, the difference between the
                actual loss ratio and 69.0% or 54.0%, as the case may be,
                will be multiplied by the earned premium for the Underwriting
                Year and carried forward as a debit or credit to the ensuing
                Underwriting Year calculation.

      2.   As respects the second and subsequent Underwriting Years
           hereunder, if the ratio of losses incurred to premium earned
           is 69.0% or higher, then the adjusted ceding commission shall
           be 26.0%.  If the ratio of losses incurred to premium earned is
           less than 69.0%, then the adjusted commission shall be determined
           by adding one percentage point to the ceding commission for
           each percentage point reduction loss ratio subject to a ceding
           commission of 41.0% at a loss ratio of 54.0% or less.  If the
           ratio of losses incurred to premium earned is greater than 69.0%
           or less than 54.0%, the difference between the actual loss ratio
           and 69.0% or 54.0%, as the case may be, will be multiplied by the
           earned premium for the Underwriting Year and carried forward as
           a debit or credit to the ensuing Underwriting Year calculation.

      Following termination of this Agreement any debit or credit
      carryforward remaining after the final adjustment of the concluding
      Underwriting Year will be null and void."

 The provisions of this Contract shall remain otherwise unchanged.

 IN WITNESS WHEREOF the parties hereto have caused this Addendum to be
 executed by their duly authorized representatives at:

 Dallas, Texas, this ___________ day of_________________________, 20__.

                _______________________________________________________
                AMERICAN HALLMARK INSURANCE COMPANY OF TEXAS

 Midland, Michigan, this __________ day of______________________, 20__.

                _______________________________________________________
                DORINCO REINSURANCE COMPANY

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