Document:

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                          REGISTRATION RIGHTS AGREEMENT

                                  BY AND AMONG

                            PRECISION CASTPARTS CORP.

                                       AND

                         BANC OF AMERICA SECURITIES LLC

                         BANC OF AMERICA SECURITIES LLC

                              ABN AMRO INCORPORATED
                         BANC ONE CAPITAL MARKETS, INC.
                            BNY CAPITAL MARKETS, INC.
                          FIRST UNION SECURITIES, INC.
                               SCOTIA CAPITAL INC.
                         U.S. BANCORP PIPER JAFFRAY INC.
                            WACHOVIA SECURITIES, INC.

                            DATED AS OF MARCH 3, 2000

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                          REGISTRATION RIGHTS AGREEMENT

          This Registration Rights Agreement (this "AGREEMENT") is made and
entered into as of March 3, 2000, by and among Precision Castparts Corporation,
an Oregon corporation (the "COMPANY"), and Banc of America Securities LLC, Banc
of America Securities LLC, ABN AMRO Incorporated, Banc One Capital Markets,
Inc.. BNY Capital Markets, Inc., First Union Securities, Inc., Scotia Capital
Inc., U.S. Bancorp Piper Jaffray Inc. and Wachovia Securities, Inc. (each an
"INITIAL PURCHASER" and, collectively, the "INITIAL PURCHASERS"), each of whom
has agreed to purchase the Company's 8.75% Senior Notes due March 15, 2005 (the
"INITIAL NOTES") pursuant to the Purchase Agreement (as defined below).

          This Agreement is made pursuant to the Purchase Agreement, dated as of
February 29, 2000 (the "Purchase Agreement"), by and among the Company and the
Initial Purchasers (i) for your benefit and for the benefit of each other
Initial Purchaser and (ii) for the benefit of the holders from time to time of
the Initial Notes (including you and each other Initial Purchaser).  In order to
induce the Initial Purchasers to purchase the Initial Notes, the Company has
agreed to provide the registration rights set forth in this Agreement.  The
execution and delivery of this Agreement is a condition to the obligations of
the Initial Purchasers set forth in Section 5(h) of the Purchase Agreement.

          The parties hereby agree as follows:

SECTION 1.         DEFINITIONS

          As used in this Agreement, the following capitalized terms shall have
the following meanings:

                    BROKER-DEALER: Any broker or dealer registered under the
          Exchange Act.

                    CLOSING DATE:  The date of this Agreement.

                    COMMISSION:  The Securities and Exchange Commission.

                    CONSUMMATE:  A Registered Exchange Offer shall be
          deemed "Consummated" for purposes of this Agreement upon the
          occurrence of (i) the filing and effectiveness under the
          Securities Act of the Exchange Offer Registration Statement
          relating to the Exchange Notes to be issued in the Exchange
          Offer, (ii) the maintenance of such Registration Statement
          continuously effective and the keeping of the Exchange Offer open
          for a period not less than the minimum period required pursuant
          to Section 3(b) hereof, and (iii) the delivery by the Company to
          the Trustee under the Indenture of Exchange Notes in the same
          aggregate principal amount as the aggregate principal amount of
          Initial Notes that were tendered by Holders thereof pursuant to
          the Exchange Offer.

                    EFFECTIVENESS TARGET DATE:  As defined in Section 5.

                    EXCHANGE ACT:  The Securities Exchange Act of 1934, as
          amended.

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                    EXCHANGE NOTES: The 8.75% Senior Notes due March 15,
          2005, of the same series under the Indenture as the Initial
          Notes, to be issued to Holders in exchange for Transfer
          Restricted Securities pursuant to this Agreement.

                    EXCHANGE OFFER:  The registration by the Company under
          the Securities Act of the Exchange Notes pursuant to a
          Registration Statement pursuant to which the Company offers the
          Holders of all outstanding Transfer Restricted Securities the
          opportunity to exchange all such outstanding Transfer Restricted
          Securities held by such Holders for Exchange Notes in an
          aggregate principal amount equal to the aggregate principal
          amount of the Transfer Restricted Securities tendered in such
          exchange offer by such Holders.

                    EXCHANGE OFFER REGISTRATION STATEMENT:  The
          Registration Statement relating to the Exchange Offer, including
          the related Prospectus.

                    EXEMPT RESALES:  The transactions in which the Initial
          Purchasers propose to sell the Initial Notes to certain
          "qualified institutional buyers," as such term is defined in
          Rule 144A under the Securities Act, and to certain institutional
          "accredited investors," as such term is defined in Rule
          501(a)(1), (2), (3) and (7) of Regulation D under the Securities
          Act ("ACCREDITED INSTITUTIONS").

                    HOLDERS:  As defined in Section 2(b) hereof.

                    INDEMNIFIED HOLDER:  As defined in Section 8(a)
          hereof.

                    INDENTURE:  The Indenture, dated as of December 16,
          1997, among the Company and Bank One Trust Company, N.A.
          (successor in interest to The First National Bank of Chicago), as
          trustee (the "TRUSTEE"), and the supplemental indenture dated as
          of February 29, 2000, pursuant to which the Notes are to be
          issued, as such Indenture is amended or supplemented from time to
          time in accordance with the terms thereof.

                    INITIAL PURCHASER:  As defined in the preamble hereto.

                    INITIAL NOTES:  The 8.75% Senior Notes due March 15,
          2005, of the same series under the Indenture as the Exchange
          Notes, for so long as such securities constitute Transfer
          Restricted Securities.

                    INITIAL PLACEMENT: The issuance and sale by the
          Company of the Initial Notes to the Initial Purchasers pursuant
          to the Purchase Agreement.

                    INTEREST PAYMENT DATE:  As defined in the Indenture
          and the Notes.

                    NASD:  National Association of Securities Dealers,
          Inc.

                    NOTES:  The Initial Notes and the Exchange Notes.

                    PERSON:  An individual, partnership, corporation,
          trust or unincorporated organization, or a government or agency
          or political subdivision thereof.

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                    PROSPECTUS:  The prospectus included in a Registration
          Statement, as amended or supplemented by any prospectus supplement and
          by all other amendments thereto, including post-effective amendments,
          and all material incorporated by reference into such Prospectus.

                    RECORD HOLDER:  With respect to any Damages Payment
          Date relating to the Notes, each Person who is a Holder of Notes
          on the record date with respect to the Interest Payment Date on
          which such Damages Payment Date shall occur.

                    REGISTRATION DEFAULT:  As defined in Section 5 hereof.

                    REGISTRATION STATEMENT:  Any registration statement of
          the Company relating to (a) an offering of Exchange Notes
          pursuant to an Exchange Offer or (b) the registration for resale
          of Transfer Restricted Securities pursuant to the Shelf
          Registration Statement, which is filed pursuant to the provisions
          of this Agreement, in each case, including the Prospectus
          included therein, all amendments and supplements thereto
          (including post-effective amendments) and all exhibits and
          material incorporated by reference therein.

                    SECURITIES ACT:  The Securities Act of 1933, as
          amended.

                    SHELF FILING DEADLINE:  As defined in Section 4
          hereof.

                    SHELF REGISTRATION STATEMENT:  As defined in Section 4
          hereof.

                    TRUST INDENTURE ACT:  The Trust Indenture Act of 1939
          (15 U.S.C. Section 77aaa-77bbbb) as in effect on the date of the
          Indenture.

                    TRANSFER RESTRICTED SECURITIES:  Each Note, until the
          earliest to occur of (a) the date on which such Note is exchanged
          by a Person other than a Broker-Dealer for an Exchange Note in
          the Exchange Offer, (b) following the exchange by a Broker-Dealer
          in the Exchange Offer of a Note for an Exchange Note, the date on
          which such Exchange Note is sold to a purchaser who receives from
          such Broker-Dealer on or prior to the date of such sale a copy of
          the prospectus contained in the Exchange Offer Registration
          Statement, if such prospectus is appropriate and available for
          such resale, (c) the date on which such Note has been effectively
          registered under the Securities Act and disposed of in accordance
          with a Shelf Registration Statement and (d) the date on which
          such Note is distributed to the public pursuant to Rule 144 under
          the Securities Act.

                    UNDERWRITTEN REGISTRATION or UNDERWRITTEN OFFERING:  A
          registration in which securities of the Company are sold to an
          underwriter for reoffering to the public.

SECTION 2.         SECURITIES SUBJECT TO THIS AGREEMENT

       (a)  TRANSFER RESTRICTED SECURITIES.  The securities entitled to the
benefits of this Agreement are the Transfer Restricted Securities.

       (b)  HOLDERS OF TRANSFER RESTRICTED SECURITIES.  A Person is deemed to be
a holder of Transfer Restricted Securities (each, a "HOLDER") whenever such
Person owns Transfer Restricted Securities.

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SECTION 3.         REGISTERED EXCHANGE OFFER

       (a)  Unless the Exchange Offer shall not be permissible under applicable
law or Commission policy (after the procedures set forth in Section 6(a) below
have been complied with), the Company shall (i) cause to be filed with the
Commission as soon as practicable after the Closing Date, but in no event later
than 90 days after the Closing Date, a Registration Statement under the
Securities Act relating to the Exchange Notes and the Exchange Offer, (ii) use
its best efforts to cause such Registration Statement to become effective at the
earliest possible time, but in no event later than 180 days after the Closing
Date, (iii) in connection with the foregoing, file (A) all pre-effective
amendments to such Registration Statement as may be necessary in order to cause
such Registration Statement to become effective, (B) if applicable, a
post-effective amendment to such Registration Statement pursuant to Rule 430A
under the Securities Act and (C) cause all necessary filings in connection with
the registration and qualification of the Exchange Notes to be made under the
Blue Sky laws of such jurisdictions as are necessary to permit Consummation of
the Exchange Offer, and (iv) upon the effectiveness of such Registration
Statement, commence the Exchange Offer.  The Exchange Offer shall be on the
appropriate form permitting registration of the Exchange Notes to be offered in
exchange for the Transfer Restricted Securities and to permit resales of Notes
held by Broker-Dealers as contemplated by Section 3(c) below.

       (b)  The Company shall cause the Exchange Offer Registration Statement to
be effective continuously and shall keep the Exchange Offer open for a period of
not less than the minimum period required under applicable federal and state
securities laws to Consummate the Exchange Offer; PROVIDED, HOWEVER, that in no
event shall such period be less than 30 days after the date notice of the
Exchange Offer is mailed to the Holders.  The Company shall cause the Exchange
Offer to comply with all applicable federal and state securities laws.  No
securities other than the Notes shall be included in the Exchange Offer
Registration Statement.  The Company shall use its best efforts to Consummate
the Exchange Offer on or prior to 30 business days, or longer, if required by
the federal securities laws, after the date on which the Exchange Offer
Registration Statement was declared effective by the Commission.

       (c)  The Company shall indicate in a "Plan of Distribution" section
contained in the Prospectus forming a part of the Exchange Offer Registration
Statement that any Broker-Dealer who holds Initial Notes that are Transfer
Restricted Securities and that were acquired for its own account as a result of
market-making activities or other trading activities (other than Transfer
Restricted Securities acquired directly from the Company), may exchange such
Initial Notes pursuant to the Exchange Offer; however, such Broker-Dealer may be
deemed to be an "underwriter" within the meaning of the Securities Act and must,
therefore, deliver a prospectus meeting the requirements of the Securities Act
in connection with any resales of the Exchange Notes received by such
Broker-Dealer in the Exchange Offer, which prospectus delivery requirement may
be satisfied by the delivery by such Broker-Dealer of the Prospectus contained
in the Exchange Offer Registration Statement. Such "Plan of Distribution"
section shall also contain all other information with respect to such resales by
Broker-Dealers that the Commission may require in order to permit such resales
pursuant thereto, but such "Plan of Distribution" shall not name any such
Broker-Dealer or disclose the amount of Notes held by any such Broker-Dealer
except to the extent required by the Commission as a result of a change in
policy after the date of this Agreement.

            The Company shall use its best efforts to keep the Exchange Offer
Registration Statement continuously effective, supplemented and amended as
required by the provisions of Section 6(c) below to the extent necessary to
ensure that it is available for resales of Notes acquired by Broker-Dealers for
their own accounts as a result of market-making activities or other trading
activities, and to ensure that it conforms with the requirements of this
Agreement, the Securities Act

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and the policies, rules and regulations of the Commission as announced from time
to time, for a period ending on the earlier of (i) 180 days from the date on
which the Exchange Offer Registration Statement is declared effective and (ii)
the date on which a Broker-Dealer is no longer required to deliver a prospectus
in connection with market-making or other trading activities.

            The Company shall provide sufficient copies of the latest version of
such Prospectus to Broker-Dealers promptly upon request at any time during such
180-day (or shorter as provided in the foregoing sentence) period in order to
facilitate such resales.

SECTION 4.         SHELF REGISTRATION

       (a)  SHELF REGISTRATION.  If (i) the Company is not required to file an
Exchange Offer Registration Statement or permitted to Consummate the Exchange
Offer because the Exchange Offer is not permitted by applicable law or
Commission policy (after the procedures set forth in Section 6(a) below have
been complied with), (ii) any Holder of Transfer Restricted Securities notifies
the Company prior to the 20th day following Consummation of the Exchange Offer
that (A) such Holder is prohibited by applicable law or Commission policy from
participating in the Exchange Offer, or (B) such Holder may not resell the
Exchange Notes acquired by it in the Exchange Offer to the public without
delivering a prospectus and that the Prospectus contained in the Exchange Offer
Registration Statement is not appropriate or available for such resales by such
Holder, or (C) such Holder is a Broker-Dealer and holds Initial Notes acquired
directly from the Company or one of its affiliates, then, upon such Holder's
request, the Company shall

           (x) cause to be filed a shelf registration statement pursuant to
         Rule 415 under the Securities Act, which may be an amendment to the
        Exchange Offer Registration Statement (in either event, the "SHELF
        REGISTRATION STATEMENT") on or prior to the earliest to occur of (1) the
        90th day after the date on which the Company determines that it is not
        required to file the Exchange Offer Registration Statement, and (2) the
        90th day after the date on which the Company receives notice from a
        Holder of Transfer Restricted Securities as contemplated by clause (ii)
        above (such earliest date being the "SHELF FILING DEADLINE"), which
        Shelf Registration Statement shall provide for resales of all Transfer
        Restricted Securities the Holders of which shall have provided the
        information required pursuant to Section 4(b) hereof; and

           (y) use their best efforts to cause such Shelf Registration
        Statement to be declared effective by the Commission on or before the
        180th day after the Shelf Filing Deadline.

The Company shall use its best efforts to keep such Shelf Registration Statement
continuously effective, supplemented and amended as required by the provisions
of Sections 6(b) and (c) hereof to the extent necessary to ensure that it is
available for resales of Notes by the Holders of Transfer Restricted Securities
entitled to the benefit of this Section 4(a), and to ensure that it conforms
with the requirements of this Agreement, the Securities Act and the policies,
rules and regulations of the Commission as announced from time to time, for a
period of at least two years following the effective date of such Shelf
Registration Statement (or shorter period that will terminate when all the Notes
covered by such Shelf Registration Statement have been sold pursuant to such
Shelf Registration Statement).

       (b)  PROVISION BY HOLDERS OF CERTAIN INFORMATION IN CONNECTION WITH THE
SHELF REGISTRATION STATEMENT.  No Holder of Transfer Restricted Securities may
include any of its Transfer Restricted Securities in any Shelf Registration
Statement pursuant to this Agreement unless and

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until such Holder furnishes to the Company in writing, within 20 business days
after receipt of a request therefor, such information as the Company may
reasonably request for use in connection with any Shelf Registration Statement
or Prospectus or preliminary Prospectus included therein. Each Holder as to
which any Shelf Registration Statement is being effected agrees to furnish
promptly to the Company all information required to be disclosed in order to
make the information previously furnished to the Company by such Holder not
materially misleading.

SECTION 5.         LIQUIDATED DAMAGES

            If (i) any Registration Statement required by this Agreement is not
filed with the Commission on or prior to the date specified for such filing in
this Agreement, (ii) any such Registration Statement has not been declared
effective by the Commission on or prior to the date specified for such
effectiveness in this Agreement (the "EFFECTIVENESS TARGET DATE"), (iii) the
Exchange Offer has not been Consummated within 30 business days after the
Effectiveness Target Date with respect to the Exchange Offer Registration
Statement or (iv) any Registration Statement required by this Agreement is filed
and declared effective but shall thereafter cease to be effective or fail to be
usable in connection with resales of Transfer Restricted Securities during the
periods specified in this Agreement without being succeeded immediately by a
post-effective amendment to such Registration Statement that cures such failure
and that is itself immediately declared effective (each such event referred to
in clauses (i) through (iv), a "REGISTRATION DEFAULT"), the Company hereby
agrees to pay to each Holder of Transfer Restricted Securities affected thereby
liquidated damages in an amount equal to $.05 per week per $1,000 in principal
amount of Transfer Restricted Securities held by such Holder for each week or
portion thereof that the Registration Default continues for the first 90-day
period immediately following the occurrence of such Registration Default. The
amount of liquidated damages shall be increased by an additional $.05 per week
per $1,000 in principal amount of Transfer Restricted Securities with respect to
each subsequent 90-day period until all Registration Defaults have been cured,
up to a maximum amount of liquidated damages of $.50 per week per $1,000 in
principal amount of Transfer Restricted Securities; PROVIDED that the Company
shall in no event be required to pay liquidated damages for more than one
Registration Default at any given time.  Notwithstanding anything to the
contrary set forth herein, (1) upon filing of the Exchange Offer Registration
Statement (and/or, if applicable, the Shelf Registration Statement), in the case
of (i) above, (2) upon the effectiveness of the Exchange Offer Registration
Statement (and/or, if applicable, the Shelf Registration Statement), in the case
of (ii) above, (3) upon Consummation of the Exchange Offer, in the case of (iii)
above, or (4) upon the filing of a post-effective amendment to the Registration
Statement or an additional Registration Statement that causes the Exchange Offer
Registration Statement (and/or, if applicable, the Shelf Registration Statement)
to again be declared effective or made usable in the case of (iv) above, the
liquidated damages payable with respect to the Transfer Restricted Securities as
a result of such clause (i), (ii), (iii) or (iv), as applicable, shall cease.

            All accrued liquidated damages shall be paid to the Holders entitled
thereto, in the manner provided for the payment of interest in the Indenture, on
each Interest Payment Date, as more fully set forth in the Indenture and the
Notes.  Notwithstanding the fact that any securities for which liquidated
damages are due cease to be Transfer Restricted Securities, all obligations of
the Company to pay liquidated damages with respect to securities shall survive
until such time as such obligations with respect to such securities shall have
been satisfied in full.

SECTION 6.         REGISTRATION PROCEDURES

       (a)  EXCHANGE OFFER REGISTRATION STATEMENT.  In connection with the
Exchange Offer, the Company shall comply with all of the provisions of Section
6(c) below, shall use its best efforts to

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effect such exchange to permit the sale of Transfer Restricted Securities being
sold in accordance with the intended method or methods of distribution thereof,
and shall comply with all of the following provisions:

           (i)    If in the reasonable opinion of counsel to the Company there
is a question as to whether the Exchange Offer is permitted by applicable law,
the Company hereby agrees to seek a no-action letter or other favorable decision
from the Commission allowing the Company to Consummate an Exchange Offer for
such Initial Notes.  The Company hereby agrees to pursue the issuance of such a
decision to the Commission staff level but shall not be required to take
commercially unreasonable action to effect a change of Commission policy.  The
Company hereby agrees, however, to (A) participate in telephonic conferences
with the Commission, (B) deliver to the Commission staff an analysis prepared by
counsel to the Company setting forth the legal bases, if any, upon which such
counsel has concluded that such an Exchange Offer should be permitted and (C)
diligently pursue a favorable resolution by the Commission staff of such
submission.

           (ii)   As a condition to its participation in the Exchange Offer
pursuant to the terms of this Agreement, each Holder of Transfer Restricted
Securities shall furnish, upon the request of the Company, prior to the
Consummation thereof, a written representation to the Company (which may be
contained in the letter of transmittal contemplated by the Exchange Offer
Registration Statement) to the effect that (A) it is not an affiliate of the
Company, (B) it is not engaged in, and does not intend to engage in, and has no
arrangement or understanding with any person to participate in, a distribution
of the Exchange Notes to be issued in the Exchange Offer and (C) it is acquiring
the Exchange Notes in its ordinary course of business.  In addition, all such
Holders of Transfer Restricted Securities shall otherwise cooperate in the
Company's preparations for the Exchange Offer.  Each Holder hereby acknowledges
and agrees that any Broker-Dealer and any such Holder using the Exchange Offer
to participate in a distribution of the securities to be acquired in the
Exchange Offer (1) could not under Commission policy as in effect on the date of
this Agreement rely on the position of the Commission enunciated in MORGAN
STANLEY AND CO., INC. (available June 5, 1991) and EXXON CAPITAL HOLDINGS
CORPORATION (available May 13, 1988), as interpreted in the Commission's letter
to Shearman & Sterling dated July 2, 1993, and similar no-action letters (which
may include any no-action letter obtained pursuant to clause (i) above), and (2)
must comply with the registration and prospectus delivery requirements of the
Securities Act in connection with a secondary resale transaction and that such a
secondary resale transaction should be covered by an effective registration
statement containing the selling security holder information required by Item
507 or 508, as applicable, of Regulation S-K if the resales are of Exchange
Notes obtained by such Holder in exchange for Initial Notes acquired by such
Holder directly from the Company.

       (b)  SHELF REGISTRATION STATEMENT.  In connection with the Shelf
Registration Statement, the Company shall comply with all the provisions of
Section 6(c) below and shall use its best efforts to effect such registration to
permit the sale of the Transfer Restricted Securities being sold in accordance
with the intended method or methods of distribution thereof, and pursuant
thereto the Company will as expeditiously as possible prepare and file with the
Commission a Registration Statement relating to the registration on any
appropriate form under the Securities Act, which form shall be available for the
sale of the Transfer Restricted Securities in accordance with the intended
method or methods of distribution thereof.

       (c)  GENERAL PROVISIONS.  In connection with any Registration Statement
and any Prospectus required by this Agreement to permit the sale or resale of
Transfer Restricted Securities (including, without limitation, any Registration
Statement and the related Prospectus required to permit resales of Notes by
Broker-Dealers), the Company shall:

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           (i)    use its best efforts to keep such Registration Statement
continuously effective and provide all requisite financial statements for the
period specified in Section 3 or 4 of this Agreement, as applicable; upon the
occurrence of any event that would cause any such Registration Statement or the
Prospectus contained therein (A) to contain a material misstatement or omission
or (B) not to be effective and usable for resale of Transfer Restricted
Securities during the period required by this Agreement, the Company shall file
promptly an appropriate amendment to such Registration Statement, in the case of
clause (A), correcting any such misstatement or omission, and, in the case of
either clause (A) or (B), use its best efforts to cause such amendment to be
declared effective and such Registration Statement and the related Prospectus to
become usable for their intended purpose(s) as soon as practicable thereafter;

           (ii)   prepare and file with the Commission such amendments and
post-effective amendments to the Registration Statement as may be necessary to
keep the Registration Statement effective for the applicable period set forth in
Section 3 or 4 hereof, as applicable, or such shorter period as will terminate
when all Transfer Restricted Securities covered by such Registration Statement
have been sold; cause the Prospectus to be supplemented by any required
Prospectus supplement, and as so supplemented to be filed pursuant to Rule 424
under the Securities Act, and to comply fully with the applicable provisions of
Rules 424 and 430A under the Securities Act in a timely manner; and comply with
the provisions of the Securities Act with respect to the disposition of all
securities covered by such Registration Statement during the applicable period
in accordance with the intended method or methods of distribution by the sellers
thereof set forth in such Registration Statement or supplement to the
Prospectus;

           (iii)  advise the underwriter(s), if any, and selling Holders
promptly and, if requested by such Persons, to confirm such advice in writing,
(A) when the Prospectus or any Prospectus supplement or post-effective amendment
has been filed, and, with respect to any Registration Statement or any
post-effective amendment thereto, when the same has become effective, (B) of any
request by the Commission for amendments to the Registration Statement or
amendments or supplements to the Prospectus or for additional information
relating thereto, (C) of the issuance by the Commission of any stop order
suspending the effectiveness of the Registration Statement under the Securities
Act or of the suspension by any state securities commission of the qualification
of the Transfer Restricted Securities for offering or sale in any jurisdiction,
or the initiation of any proceeding for any of the preceding purposes, (D) of
the existence of any fact or the happening of any event that makes any statement
of a material fact made in the Registration Statement, the Prospectus, any
amendment or supplement thereto, or any document incorporated by reference
therein untrue, or that requires the making of any additions to or changes in
the Registration Statement or the Prospectus in order to make the statements
therein not misleading. If at any time the Commission shall issue any stop order
suspending the effectiveness of the Registration Statement, or any state
securities commission or other regulatory authority shall issue an order
suspending the qualification or exemption from qualification of the Transfer
Restricted Securities under state securities or Blue Sky laws, the Company shall
use its best efforts to obtain the withdrawal or lifting of such order at the
earliest possible time;

           (iv)   furnish without charge to each of the Initial Purchasers, each
selling Holder named in any Registration Statement, and each of the
underwriter(s), if any, before filing with the Commission, copies of any
Registration Statement or any Prospectus included therein or any amendments or
supplements to any such Registration Statement or Prospectus (including all
documents incorporated by reference after the initial filing of such
Registration Statement), which documents will be subject to the review of such
Holders and underwriter(s) in connection with such sale, if any, for a period of
at least five business days, and the Company will not file any such Registration
Statement or Prospectus or any amendment or supplement to any such Registration

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Statement or Prospectus (including all such documents incorporated by reference)
to which an Initial Purchaser of Transfer Restricted Securities covered by such
Registration Statement or the underwriter(s), if any, shall reasonably object in
writing within five business days after the receipt thereof (such objection to
be deemed timely made upon confirmation of telecopy transmission within such
period).  The objection of an Initial Purchaser or underwriter, if any, shall be
deemed to be reasonable if such Registration Statement, amendment, Prospectus or
supplement, as applicable, as proposed to be filed, contains a material
misstatement or omission;

           (v)    promptly prior to the filing of any document that is to be
incorporated by reference into a Registration Statement or Prospectus, provide
copies of such document to the Initial Purchasers, each selling Holder named in
any Registration Statement, and to the underwriter(s), if any, make the
Company's representatives available for discussion of such document and other
customary due diligence matters, and include such information in such document
prior to the filing thereof as such selling Holders or underwriter(s), if any,
may reasonably request;

           (vi)   make available at reasonable times for inspection by the
Initial Purchasers, any managing underwriter participating in any disposition
pursuant to such Registration Statement and any attorney or accountant retained
by such Initial Purchasers or any of the underwriter(s), all financial and other
records, pertinent corporate documents and properties of the Company and cause
the Company's officers, directors and employees to supply all information
reasonably requested by any such Holder, underwriter, attorney or accountant in
connection with such Registration Statement subsequent to the filing thereof and
prior to its effectiveness;

           (vii)  if requested by any selling Holders or the underwriter(s), if
any, promptly incorporate in any Registration Statement or Prospectus, pursuant
to a supplement or post-effective amendment if necessary, such information as
such selling Holders and underwriter(s), if any, may reasonably request to have
included therein, including, without limitation, information relating to the
"Plan of Distribution" of the Transfer Restricted Securities, information with
respect to the principal amount of Transfer Restricted Securities being sold to
such underwriter(s), the purchase price being paid therefor and any other terms
of the offering of the Transfer Restricted Securities to be sold in such
offering; and make all required filings of such Prospectus supplement or
post-effective amendment as soon as practicable after the Company is notified of
the matters to be incorporated in such Prospectus supplement or post-effective
amendment;

           (viii) cause the Transfer Restricted Securities covered by the
Registration Statement to be rated with the appropriate rating agencies, if so
requested by the Holders of a majority in aggregate principal amount of Notes
covered thereby or the underwriter(s), if any;

           (ix)   furnish to each selling Holder and each of the underwriter(s),
if any, without charge, at least one copy of the Registration Statement, as
first filed with the Commission, and of each amendment thereto, including
financial statements and schedules, all documents incorporated by reference
therein and all exhibits (including exhibits incorporated therein by reference);

           (x)    deliver to each selling Holder and each of the underwriter(s),
if any, without charge, as many copies of the Prospectus (including each
preliminary prospectus) and any amendment or supplement thereto as such Persons
reasonably may  request; the Company hereby consents to the use of the
Prospectus and any amendment or supplement thereto by each of the selling
Holders and each of the underwriter(s), if any, in connection with the offering
and the sale of the Transfer Restricted Securities covered by the Prospectus or
any amendment or supplement thereto;

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           (xi)   enter into such agreements and make such representations and
warranties, and take all such other actions in connection therewith in order to
expedite or facilitate the disposition of the Transfer Restricted Securities
pursuant to any Registration Statement contemplated by this Agreement, all to
such extent as may be requested by any Initial Purchaser or by any Holder of
Transfer Restricted Securities or underwriter in connection with any sale or
resale pursuant to any Registration Statement contemplated by this Agreement,
and;

           (A)    in connection with any underwritten offering of Transfer
     Restricted Securities pursuant to a Shelf Registration Statement, enter
     into an underwriting agreement as is customary in underwritten offerings of
     debt securities similar to the Notes and, whether or not the shelf
     registration is an Underwritten Registration, the Company shall furnish to
     each Initial Purchaser, each selling Holder and each underwriter, if any,
     in such substance and scope as they may request and as are customarily made
     by issuers to underwriters in primary underwritten offerings, upon the date
     of the effectiveness of a Shelf Registration Statement:

                  (1)     a certificate, dated the date of the Shelf
            Registration Statement, as the case may be, signed by (y) the
            President or any Vice President and (z) a principal financial or
            accounting officer of the Company, confirming, as of the date
            thereof, the matters set forth in paragraphs (i), (ii) and (iii) of
            Section 5 (e) of the Purchase Agreement and such other matters as
            such parties may reasonably request;

                  (2)     an opinion, dated the date of effectiveness of the
            Shelf Registration Statement of counsel for the Company, covering
            the matters set forth in paragraph (c) of Section 5 of the Purchase
            Agreement and such other matter as such parties may reasonably
            request, and in any event including a statement to the effect that
            such counsel has participated in conferences with officers and other
            representatives of the Company, representatives of the independent
            public accountants for the Company, the Initial Purchasers'
            representatives and the Initial Purchasers' counsel in connection
            with the preparation of such Registration Statement and the related
            Prospectus and have considered the matters required to be stated
            therein and the statements contained therein, although such counsel
            has not independently verified the accuracy, completeness or
            fairness of such statements; and that such counsel advises that, on
            the basis of the foregoing (relying as to materiality to a large
            extent upon facts provided to such counsel by officers and other
            representatives of the Company and without independent check or
            verification), no facts came to such counsel's attention that caused
            such counsel to believe that the applicable Registration Statement,
            at the time such Registration Statement or any post-effective
            amendment thereto became effective, and, in the case of the Exchange
            Offer Registration Statement, as of the date of Consummation,
            contained an untrue statement of a material fact or omitted to state
            a material fact required to be stated therein or necessary to make
            the statements therein not misleading, or that the Prospectus
            contained in such Registration Statement as of its date and, in the
            case of the opinion dated the date of Consummation of the Exchange
            Offer, as of the date of Consummation, contained an untrue statement
            of a material fact or omitted to state a material fact necessary in
            order to make the statements therein, in the light of the
            circumstances under which they were made, not misleading. Without
            limiting the foregoing, such counsel may state further that such
            counsel assumes no responsibility for, and has not independently
            verified, the accuracy, completeness or fairness of the financial
            statements, notes and schedules and other financial data

                                       10
<PAGE>

            included in any Registration Statement contemplated by this
            Agreement or the related Prospectus; and

                  (3)     a customary comfort letter, dated as of the date of
            Consummation of the Exchange Offer or the date of effectiveness of
            the Shelf Registration Statement, as the case may be, from the
            Company's independent accountants, in the customary form and
            covering matters of the type customarily covered in comfort letters
            by underwriters in connection with primary underwritten offerings,
            and affirming the matters set forth in the comfort letters delivered
            pursuant to Section 5(a) of the Purchase Agreement, without
            exception;

           (B)    set forth in full or incorporate by reference in the
     underwriting agreement, if any, the indemnification provisions and
     procedures of Section 8 hereof with respect to all parties to be
     indemnified pursuant to said Section; and

           (C)    deliver such other documents and certificates as may be
     reasonably requested by such parties to evidence compliance with clause (A)
     above and with any customary conditions contained in the underwriting
     agreement or other agreement entered into by the Company pursuant to this
     clause (xi), if any.

            If at any time the representations and warranties of the Company
contemplated in clause (A)(1) above cease to be true and correct, the Company
shall so advise the Initial Purchasers and the underwriter(s), if any, and each
selling Holder promptly and, if requested by such Persons, shall confirm such
advice in writing;

           (xii)  prior to any public offering of Transfer Restricted
Securities, cooperate with the selling Holders, the underwriter(s), if any, and
their respective counsel in connection with the registration and qualification
of the Transfer Restricted Securities under the securities or Blue Sky laws of
such jurisdictions as the selling Holders or underwriter(s) may request and do
any and all other acts or things necessary or advisable to enable the
disposition in such jurisdictions of the Transfer Restricted Securities covered
by the Shelf Registration Statement; PROVIDED, HOWEVER, that the Company shall
not be required to register or qualify as a foreign corporation where it is not
then so qualified or to take any action that would subject it to the service of
process in suits or to taxation, other than as to matters and transactions
relating to the Registration Statement, in any jurisdiction where it is not then
so subject;

           (xiii) shall issue, upon the request of any Holder of Initial Notes
covered by the Shelf Registration Statement, Exchange Notes, having an aggregate
principal amount equal to the aggregate principal amount of Initial Notes
surrendered to the Company by such Holder in exchange therefor or being sold by
such Holder; such Exchange Notes to be registered in the name of such Holder or
in the name of the purchaser(s) of such Notes, as the case may be; in return,
the Initial Notes held by such Holder shall be surrendered to the Company for
cancellation;

           (xiv)  cooperate with the selling Holders and the underwriter(s), if
any, to facilitate the timely preparation and delivery of certificates
representing Transfer Restricted Securities to be sold and not bearing any
restrictive legends; and enable such Transfer Restricted Securities to be in
such denominations and registered in such names as the Holders or the
underwriter(s), if any, may request at least two business days prior to any sale
of Transfer Restricted Securities made by such underwriter(s);

                                       11
<PAGE>

           (xv)   use its best efforts to cause the Transfer Restricted
Securities covered by the Registration Statement to be registered with or
approved by such other governmental agencies or authorities as may be necessary
to enable the seller or sellers thereof or the underwriter(s), if any, to
consummate the disposition of such Transfer Restricted Securities, subject to
the proviso contained in clause (viii) above;

           (xvi)  if any fact or event contemplated by clause (c)(iii)(D) above
shall exist or have occurred, prepare a supplement or post-effective amendment
to the Registration Statement or related Prospectus or any document incorporated
therein by reference or file any other required document so that, as thereafter
delivered to the purchasers of Transfer Restricted Securities, the Prospectus
will not contain an untrue statement of a material fact or omit to state any
material fact necessary to make the statements therein not misleading;

           (xvii) provide a CUSIP number for all Transfer Restricted Securities
not later than the effective date of the Registration Statement and provide the
Trustee under the Indenture with printed certificates for the Transfer
Restricted Securities which are in a form eligible for deposit with the
Depositary Trust Company;

           (xviii) cooperate and assist in any filings required to be made with
the NASD and in the performance of any due diligence investigation by any
underwriter (including any "qualified independent underwriter") that is required
to be retained in accordance with the rules and regulations of the NASD, and use
its reasonable best efforts to cause such Registration Statement to become
effective and approved by such governmental agencies or authorities as may be
necessary to enable the Holders selling Transfer Restricted Securities to
consummate the disposition of such Transfer Restricted Securities;

           (xix)  otherwise use its best efforts to comply with all applicable
rules and regulations of the Commission, and make generally available to its
security holders, as soon as practicable, a consolidated earnings statement
meeting the requirements of Rule 158 (which need not be audited) for the
twelve-month period (A) commencing at the end of any fiscal quarter in which
Transfer Restricted Securities are sold to underwriters in a firm or best
efforts Underwritten Offering or (B) if not sold to underwriters in such an
offering, beginning with the first month of the Company's first fiscal quarter
commencing after the effective date of the Registration Statement;

           (xx)   cause the Indenture to be qualified under the Trust Indenture
Act not later than the effective date of the first Registration Statement
required by this Agreement, and, in connection therewith, cooperate with the
Trustee and the Holders of Notes to effect such changes to the Indenture as may
be required for such Indenture to be so qualified in accordance with the terms
of the Trust Indenture Act; and to execute and use its best efforts to cause the
Trustee to execute, all documents that may be required to effect such changes
and all other forms and documents required to be filed with the Commission to
enable such Indenture to be so qualified in a timely manner; and

           (xxi)  cause all Transfer Restricted Securities covered by the
Registration Statement to be listed on each securities exchange on which similar
securities issued by the Company are then listed if requested by the Holders of
a majority in aggregate principal amount of Initial Notes or the managing
underwriter(s), if any.

           Each Holder agrees by acquisition of a Transfer Restricted Security
that, upon receipt of any notice from the Company of the existence of any fact
of the kind described in Section 6(c)(iii)(D) hereof, such Holder will forthwith
discontinue disposition of Transfer Restricted Securities pursuant to the
applicable Registration Statement until such Holder's receipt of the copies

                                       12
<PAGE>

of the supplemented or amended Prospectus contemplated by Section 6(c)(xvi)
hereof, or until it is advised in writing (the "ADVICE") by the Company that the
use of the Prospectus may be resumed, and has received copies of any additional
or supplemental filings that are incorporated by reference in the Prospectus. If
so directed by the Company, each Holder will deliver to the Company (at the
Company's expense) all copies, other than permanent file copies then in such
Holder's possession, of the Prospectus covering such Transfer Restricted
Securities that was current at the time of receipt of such notice. In the event
the Company shall give any such notice, the time period regarding the
effectiveness of such Registration Statement set forth in Section 3 or 4 hereof,
as applicable, shall be extended by the number of days during the period from
and including the date of the giving of such notice pursuant to Section
6(c)(iii)(D) hereof to and including the date when each selling Holder covered
by such Registration Statement shall have received the copies of the
supplemented or amended Prospectus contemplated by Section 6(c)(xvi) hereof or
shall have received the Advice; however, no such extension shall be taken into
account in determining whether Liquidated damages are due pursuant to Section 5
hereof or the amount of such Liquidated damages, it being agreed that the
Company's option to suspend use of a Registration Statement pursuant to this
paragraph shall be treated as a Registration Default for purposes of Section 5.

SECTION 7.         REGISTRATION EXPENSES

       (a)  All expenses incident to the Company's performance of or compliance
with this Agreement will be borne by the Company, regardless of whether a
Registration Statement becomes effective, including without limitation: (i) all
registration and filing fees and expenses (including filings made by any Initial
Purchaser or Holder with the NASD (and, if applicable, the fees and expenses of
any "qualified independent underwriter" and its counsel that may be required by
the rules and regulations of the NASD)); (ii) all fees and expenses of
compliance with federal securities and state Blue Sky or securities laws; (iii)
all expenses of printing (including printing certificates for the Exchange Notes
to be issued in the Exchange Offer and printing of Prospectuses), messenger and
delivery services and telephone; (iv) all fees and disbursements of counsel for
the Company and, subject to Section 7(b) below, the Holders of Transfer
Restricted Securities; (v) all application and filing fees in connection with
listing the Exchange Notes on a national securities exchange or automated
quotation system pursuant to the requirements thereof; and (vi) all fees and
disbursements of independent certified public accountants of the Company
(including the expenses of any special audit and comfort letters required by or
incident to such performance).

            The Company will, in any event, bear its internal expenses
(including, without limitation, all salaries and expenses of its officers and
employees performing legal or accounting duties), the expenses of any annual
audit and the fees and expenses of any Person, including special experts,
retained by the Company.

       (b)  In connection with any Registration Statement required by this
Agreement (including, without limitation, the Exchange Offer Registration
Statement and the Shelf Registration Statement), the Company will reimburse the
Initial Purchasers and the Holders of Transfer Restricted Securities being
tendered in the Exchange Offer and/or resold pursuant to the "Plan of
Distribution" contained in the Exchange Offer Registration Statement or
registered pursuant to the Shelf Registration Statement, as applicable, for the
reasonable fees and disbursements of not more than one counsel, who shall be
Latham & Watkins or such other counsel as may be chosen by the Holders of a
majority in principal amount of the Transfer Restricted Securities for whose
benefit such Registration Statement is being prepared.

                                       13
<PAGE>

SECTION 8.       INDEMNIFICATION

       (a)  The Company agrees to indemnify and hold harmless each Holder, its
directors, officers and employees, and each person, if any, who controls any
Holder within the meaning of the Securities Act or the Exchange Act against any
loss, claim, damage, liability, or expense, as incurred, to which such Holder or
such controlling person may become subject, under the Securities Act, the
Exchange Act or other federal or state statutory law or regulation, or at common
law or otherwise (including in settlement of any litigation, if such settlement
is effected with the written consent of the Company), insofar as such loss,
claim, damage, liability or expense (or actions in respect thereof as
contemplated below) arises out of or is based upon any untrue statement or
alleged untrue statement of a material fact contained in any Registration
Statement (or any amendment or supplement thereto), or the omission or alleged
omission therefrom of a material fact necessary in order to make the statements
therein, in the light of the circumstances under which they were made, not
misleading except insofar as such loss, claim, damage, liability or expense is
caused by an untrue statement or omission or alleged untrue statement or
omission that is made in reliance upon and in conformity with information
relating to any of the Holders furnished in writing to the Company by any of the
Holders expressly for use therein.  This indemnity agreement shall be in
addition to any liability which the Company may otherwise have.

            Promptly after receipt by an indemnified party under this Section 8
of notice of the commencement of any action, such indemnified party will, if a
claim in respect thereof is to be made against an indemnifying party under this
Section 8, notify the indemnifying party in writing of the commencement thereof,
but the omission so to notify the indemnifying party will not relieve it from
any liability which it may have to any indemnified party for contribution or
otherwise than under the indemnity agreement contained in this Section 8 or to
the extent it is not prejudiced as a proximate result of such failure. In case
any such action is brought against any indemnified party and such indemnified
party seeks or intends to seek indemnity from an indemnifying party, the
indemnifying party will be entitled to participate in and, to the extent that it
shall elect, jointly with all other indemnifying parties similarly notified, by
written notice delivered to the indemnified party promptly after receiving the
aforesaid notice from such indemnified party, to assume the defense thereof with
counsel reasonably satisfactory to such indemnified party; PROVIDED, HOWEVER, if
the defendants in any such action include both the indemnified party and the
indemnifying party and the indemnified party shall have reasonably concluded
that a conflict may arise between the positions of the indemnifying party and
the indemnified party in conducting the defense of any such action or that there
may be legal defenses available to it and/or other indemnified parties which are
different from or additional to those available to the indemnifying party, the
indemnified party or parties shall have the right to select separate counsel to
assume such legal defenses and to otherwise participate in the defense of such
action on behalf of such indemnified party or parties. Upon receipt of notice
from the indemnifying party to such indemnified party of such indemnifying
party's election so to assume the defense of such action and approval by the
indemnified party of counsel, the indemnifying party will not be liable to such
indemnified party under this Section 8 for any legal or other expenses
subsequently incurred by such indemnified party in connection with the defense
thereof unless (i) the indemnified party shall have employed separate counsel in
accordance with the proviso to the next preceding sentence (it being understood,
however, that the indemnifying party shall not be liable for the expenses of
more than one separate counsel (together with local counsel), approved by the
indemnifying party, representing the indemnified parties who are parties to such
action) or (ii) the indemnifying party shall not have employed counsel
satisfactory to the indemnified party to represent the indemnified party within
a reasonable time after notice of commencement of the action, in each of which
cases the fees and expenses of counsel shall be at the expense of the
indemnifying party. The indemnifying party under this Section 8 shall not be
liable for any settlement of any proceeding effected without its written
consent, but if settled

                                       14
<PAGE>

with such consent or if there be a final judgment for the plaintiff, the
indemnifying party agrees to indemnify the indemnified party against any loss,
claim, damage, liability or expense by reason of such settlement or judgment.
Notwithstanding the foregoing sentence, if at any time an indemnified party
shall have requested an indemnifying party to reimburse the indemnified party
for fees and expenses of counsel as contemplated by Section 8 hereof, the
indemnifying party agrees that it shall be liable for any settlement of any
proceeding effected without its written consent if such settlement is entered
into more than 30 days after receipt by such indemnifying party of the aforesaid
request and such indemnifying party shall not have reimbursed the indemnified
party in accordance with such request prior to the date of such settlement. No
indemnifying party shall, without the prior written consent of the indemnified
party, effect any settlement, compromise or consent to the entry of judgment in
any pending or threatened action, suit or proceeding in respect of which any
indemnified party is or could have been a party and indemnity was or could have
been sought hereunder by such indemnified party, unless such settlement,
compromise or consent includes an unconditional release of such indemnified
party from all liability on claims that are the subject matter of such action,
suit or proceeding.

       (b)  Each Holder of Transfer Restricted Securities agrees, severally and
not jointly, to indemnify and hold harmless the Company and each of its
directors and each person, if any, who controls the Company within the meaning
of the Securities Act or the Exchange Act, against any loss, claim, damage,
liability or expense, as incurred, to which the Company or any such director, or
controlling person may become subject, under the Securities Act, the Exchange
Act, or other federal or state or state statutory law or regulation, or at
common law or otherwise (including in settlement of any litigation, if such
settlement is effected with the written consent of such Holder), but only with
respect to claims and actions based on information relating to such Holder
furnished in writing by such Holder expressly for use in any Registration
Statement.  In case any action or proceeding shall be brought against the
Company or its directors or any such controlling person in respect of which
indemnity may be sought against a Holder of Transfer Restricted Securities, such
Holder shall have the rights and duties given the Company and the Company or its
directors or such controlling person shall have the rights and duties given to
each Holder by the preceding paragraph.  In no event shall the liability of any
selling Holder hereunder be greater in amount than the dollar amount of the
proceeds received by such Holder upon the sale of the Securities giving rise to
such indemnification obligation.

       (c)  If the indemnification provided for in this Section 8 is for any
reason held to be unavailable to or otherwise insufficient to hold harmless an
indemnified party under Section 8(a) or Section 8(b) hereof (other than by
reason of exceptions provided in those Sections) in respect of any losses,
claims, damages, liabilities, or expenses referred to therein, then each
applicable indemnifying party, in lieu of indemnifying such indemnified party,
shall contribute to the aggregate amount paid or payable by such indemnified
party, as incurred, as a result of any losses, claims, damages, liabilities or
expenses (i) in such proportion as is appropriate to reflect the relative
benefits received by the Company, on the one hand, and the Holders, on the other
hand, from the Initial Placement (which in the case of the Issuer shall be
deemed to be equal to the total gross proceeds from the Initial Placement as set
forth on the cover page of the Offering Memorandum), the amount of liquidated
damages which did not become payable as a result of the filing of the
Registration Statement resulting in such losses, claims, damages, liabilities or
expenses, and such Registration Statement, or (ii) if the allocation provided by
(i) above is not permitted by applicable law, in such proportion as is
appropriate to reflect not only the relative benefits referred to in clause (i)
above but also the relative fault of the Company on the one hand, and of the
Indemnified Holder, on the other hand, in connection with the statements or
omissions or inaccuracies which resulted in such losses, claims, damages,
liabilities or expenses, as well as any other relevant equitable considerations.
The relative fault of the Company on the one hand and of the Indemnified Holder

                                       15
<PAGE>

on the other shall be determined by reference to, among other things, whether
the untrue or alleged untrue statement of a material fact or the omission or
alleged omission to state a material fact relates to information supplied by the
Company or by the Indemnified Holder and the partes' relative intent, knowledge,
access to information and opportunity to correct or prevent such statement or
omission.  The amount paid or payable by a party as a result of the losses,
claims, damages, liabilities and expenses referred to above shall be deemed to
include, subject to the limitations set forth in the second paragraph of Section
8(a), any legal or other fees or expenses reasonably incurred by such party in
connection with investigating or defending any action or claim.

            The Company and each Holder of Transfer Restricted Securities agree
that it would not be just and equitable if contribution pursuant to this Section
8(c) were determined by pro rata allocation (even if the Holders were treated as
one entity for such purpose) or by any other method of allocation which does not
take account of the equitable considerations referred to in the immediately
preceding paragraph.  The amount paid or payable by an indemnified party as a
result of the losses, claims, damages, liabilities or expenses referred to in
the immediately preceding paragraph shall be deemed to include, subject to the
limitations set forth above, any legal or other expenses reasonably incurred by
such indemnified party in connection with investigating or defending any such
action or claim.  Notwithstanding the provisions of this Section 8, none of the
Holders (and its related Indemnified Holders) shall be required to contribute,
in the aggregate, any amount in excess of the amount by which the total discount
received by such Holder with respect to the Initial Notes exceeds the amount of
any damages which such Holder has otherwise been required to pay by reason of
such untrue or alleged untrue statement or omission or alleged omission.  No
person guilty of fraudulent misrepresentation (within the meaning of Section
11(f) of the Securities Act) shall be entitled to contribution from any person
who was not guilty of such fraudulent misrepresentation.  The Holders'
obligations to contribute pursuant to this Section 8(c) are several in
proportion to the respective principal amount of Initial Notes held by each of
the Holders hereunder and not joint.  For purposes of this section 8(c), each
director of a Holder and each person, if any, who controls a Holder within the
meaning of the Securities Act and the Exchange Act shall have the same rights to
contribution as such Holder, and each director of the Company, and each person,
if any, who controls the Company within the meaning of the Securities Act and
the Exchange Act shall have the same rights to contribution as the Company.

SECTION 9.         RULE 144A

            The Company hereby agrees with each Holder, for so long as any
Transfer Restricted Securities remain outstanding, to make available to any
Holder or beneficial owner of Transfer Restricted Securities in connection with
any sale thereof and any prospective purchaser of such Transfer Restricted
Securities from such Holder or beneficial owner, the information required by
Rule 144A(d)(4) under the Securities Act in order to permit resales of such
Transfer Restricted Securities pursuant to Rule 144A.

SECTION 10.        PARTICIPATION IN UNDERWRITTEN REGISTRATIONS

            No Holder may participate in any Underwritten Registration hereunder
unless such Holder (a) agrees to sell such Holder's Transfer Restricted
Securities on the basis provided in any underwriting arrangements approved by
the Persons entitled hereunder to approve such arrangements and (b) completes
and executes all reasonable questionnaires, powers of attorney, indemnities,
underwriting agreements, lock-up letters and other documents required under the
terms of such underwriting arrangements.

                                       16
<PAGE>

SECTION 11.        SELECTION OF UNDERWRITERS

            The Holders of Transfer Restricted Securities covered by the Shelf
Registration Statement who desire to do so may sell such Transfer Restricted
Securities in an Underwritten Offering.  In any such Underwritten Offering, the
investment banker or investment bankers and manager or managers that will
administer the offering will be selected by the Holders of a majority in
aggregate principal amount of the Transfer Restricted Securities included in
such offering; PROVIDED, that such investment bankers and managers must be
reasonably satisfactory to the Company.

SECTION 12.        MISCELLANEOUS

       (a)  REMEDIES.  The Company hereby agrees that monetary damages would not
be adequate compensation for any loss incurred by reason of a breach by it of
the provisions of this Agreement and hereby agree to waive the defense in any
action for specific performance that a remedy at law would be adequate.

       (b)  NO INCONSISTENT AGREEMENTS.  The Company will not on or after the
date of this Agreement enter into any agreement with respect to its securities
that is inconsistent with the rights granted to the Holders in this Agreement or
otherwise conflicts with the provisions hereof. The Company has not previously
entered into any agreement granting any registration rights with respect to its
securities to any Person. The rights granted to the Holders hereunder do not in
any way conflict with and are not inconsistent with the rights granted to the
holders of the Company's securities under any agreement in effect on the date
hereof.

       (c)  ADJUSTMENTS AFFECTING THE NOTES.  The Company will not take any
action, or permit any change to occur, with respect to the Notes that would
materially and adversely affect the ability of the Holders to Consummate any
Exchange Offer.

       (d)  AMENDMENTS AND WAIVERS.  The provisions of this Agreement may not be
amended, modified or supplemented, and waivers or consents to or departures from
the provisions hereof may not be given unless the Company has obtained the
written consent of Holders of a majority of the outstanding principal amount of
Transfer Restricted Securities.  Notwithstanding the foregoing, a waiver or
consent to departure from the provisions hereof that relates exclusively to the
rights of Holders whose securities are being tendered pursuant to the Exchange
Offer and that does not affect directly or indirectly the rights of other
Holders whose securities are not being tendered pursuant to such Exchange Offer
may be given by the Holders of a majority of the outstanding principal amount of
Transfer Restricted Securities being tendered or registered; PROVIDED that, with
respect to any matter that directly or indirectly affects the rights of any
Initial Purchaser hereunder, the Company shall obtain the written consent of
each such Initial Purchaser with respect to which such amendment, qualification,
supplement, waiver, consent or departure is to be effective.

       (e)  NOTICES.  All notices and other communications provided for or
permitted hereunder shall be made in writing by hand-delivery, first-class mail
(registered or certified, return receipt requested), telex, telecopier, or air
courier guaranteeing overnight delivery:

           (i)    if to a Holder, at the address set forth on the records of the
     Registrar under the Indenture, with a copy to the Registrar under the
     Indenture; and

           (ii)   if to the Company:

                                       17
<PAGE>

                         Precision Castparts Corp.
                         4650 S.W. Macadam Avenue, Suite 240
                         Portland, Oregon  97201-4254

                         Telecopier No.: (503) 417-4814
                         Attention:  Geoff Hawkes

            With a copy to:

                         Stoel Rives LLP
                         900 S.W. Fifth Avenue, Suite 2600
                         Portland, Oregon  97204-1268

                         Telecopier No.: (503) 220-2480
                         Attention:  Ruth A. Beyer

            All such notices and communications shall be deemed to have been
duly given: at the time delivered by hand, if personally delivered; five
business days after being deposited in the mail, postage prepaid, if mailed;
when answered back, if telexed; when receipt acknowledged, if telecopied; and on
the next business day, if timely delivered to an air courier guaranteeing
overnight delivery.

            Copies of all such notices, demands or other communications shall be
concurrently delivered by the Person giving the same to the Trustee at the
address specified in the Indenture.

       (f)  SUCCESSORS AND ASSIGNS.  This Agreement shall inure to the benefit
of and be binding upon the successors and assigns of each of the parties,
including without limitation and without the need for an express assignment,
subsequent Holders of Transfer Restricted Securities; PROVIDED, HOWEVER, that
this Agreement shall not inure to the benefit of or be binding upon a successor
or assign of a Holder unless and to the extent such successor or assign acquired
Transfer Restricted Securities from such Holder.

       (g)  COUNTERPARTS.  This Agreement may be executed in any number of
counterparts and by the parties hereto in separate counterparts, each of which
when so executed shall be deemed to be an original and all of which taken
together shall constitute one and the same agreement.

       (h)  HEADINGS.  The headings in this Agreement are for convenience of
reference only and shall not limit or otherwise affect the meaning hereof.

       (i)  GOVERNING LAW.  THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO THE
CONFLICT OF LAW RULES THEREOF.

       (j)  SEVERABILITY.  In the event that any one or more of the provisions
contained herein, or the application thereof in any circumstance, is held
invalid, illegal or unenforceable, the validity, legality and enforceability of
any such provision in every other respect and of the remaining provisions
contained herein shall not be affected or impaired thereby.

       (k)  ENTIRE AGREEMENT.  This Agreement together with the other Operative
Documents (as defined in the Purchase Agreement) is intended by the parties as a
final expression of their

                                       18
<PAGE>

agreement and intended to be a complete and exclusive statement of the agreement
and understanding of the parties hereto in respect of the subject matter
contained herein. There are no restrictions, promises, warranties or
undertakings, other than those set forth or referred to herein with respect to
the registration rights granted by the Company with respect to the Transfer
Restricted Securities. This Agreement supersedes all prior agreements and
understandings between the parties with respect to such subject matter.

                                       19
<PAGE>

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

                                         PRECISION CASTPARTS CORP.

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

The foregoing Registration Rights Agreement is hereby
confirmed and accepted as of the date first above written.

BANC OF AMERICA SECURITIES LLC
BANC OF AMERICA SECURITIES LLC
ABN AMRO INCORPORATED
BANC ONE CAPITAL MARKETS, INC.
BNY CAPITAL MARKETS, INC.
FIRST UNION SECURITIES, INC.
SCOTIA CAPITAL INC.
U.S. BANCORP PIPER JAFFRAY INC.
WACHOVIA SECURITIES, INC.

BY:  BANC OF AMERICA SECURITIES LLC

By:
   -----------------------------

                                      S-1<PAGE>

                                                                     Exhibit 4.3

         REGISTRATION RIGHTS AGREEMENT effective as of March 6, 2000 between
ABGENIX, INC., a Delaware corporation ("ABX"), having a place of business at
7601 Dumbarton Circle, Fremont, California 94555, and MILLENNIUM
PHARMACEUTICALS, INC., a Delaware corporation ("Millennium"), having a place of
business at 75 Sidney Street, Cambridge, Massachusetts 02139.

                                       1
<PAGE>

1.       REGISTRATION OF SHARES. Subject to reasonable cooperation by ABX,
within 10 days after each payment due date under Section 6.1 at which Millennium
elects to effect payment with Registrable Securities (20 days in the case of the
payment due date specified in Section 6.1.1), Millennium shall file with the
Securities and Exchange Commission ("SEC") a registration statement on Form S-3
(the "Registration Statement") covering the resale to the public by ABX of such
Registrable Securities. Millennium shall use its best efforts to cause the
Registration Statement to be declared effective by the SEC as soon as
practicable. Millennium shall cause the Registration Statement to remain
effective for a period of six (6) months (subject to extension pursuant to
Section 3 hereof) or until such earlier time as all of the Registrable
Securities shall have been sold pursuant thereto. The Registration Statement
shall not cover any securities other than the Registrable Securities unless (a)
otherwise agreed to by ABX or (b) Millennium is otherwise required to include
shares of Common Stock or other securities held by third parties pursuant to
existing and future contractual commitments of Millennium.

2.       REGISTRATION PROCEDURES.

         (a) In connection with the filing by Millennium of each Registration
Statement, Millennium shall:

         (1) before filing with the SEC the Registration Statement, furnish to
ABX and its counsel a draft thereof and provide them with a reasonable
opportunity for review thereof and comment thereon, such review to be conducted
and such comments to be delivered with reasonable promptness;

         (2) promptly (A) notify ABX of the filing and effectiveness thereof, of
the receipt of any comments from the SEC or any state securities law authorities
with respect thereto, of any oral or written stop order with respect thereto,
and of any suspension of the registration or qualification of the Registrable
Securities in any jurisdiction or any initiation or threatening of any
proceedings with respect to the foregoing, and (B) use its reasonable efforts to
obtain the withdrawal of any order suspending the registration or qualification
(or the effectiveness thereof) or suspending or preventing the use of any
related prospectus in any jurisdiction with respect thereto;

         (3) furnish to ABX a conformed copy of the Registration Statement and
each amendment and supplement thereto (in each case, including all exhibits
thereto and documents

                                       2
<PAGE>

incorporated by reference therein) and such additional number of copies of such
Registration Statement, each amendment and supplement thereto, the prospectus
(including each preliminary prospectus) included in the Registration Statement
and prospectus supplements and all exhibits thereto and documents incorporated
by reference therein and such other documents as ABX may reasonably request in
order to facilitate the disposition of the Registrable Securities;

         (4) if requested by ABX, subject to approval of counsel to Millennium,
promptly incorporate in a prospectus supplement or post-effective amendment to
the Registration Statement such information concerning the plan of distribution
of the Registrable Securities as ABX reasonably shall furnish to Millennium in
writing and request be included therein; and make all required filings of such
prospectus supplement or post-effective amendment as soon as reasonably possible
after being notified of the matters to be incorporated therein;

         (5) notify ABX, at any time when a prospectus relating to the
Registrable Securities is required to be delivered under the Securities Act
other than during a Blackout Period (as defined below), upon the discovery that,
or of the happening of any event as a result of which, the Registration
Statement as then in effect contains an untrue statement of a material fact or
omits to state any material fact required to be stated therein or any fact
necessary to make the statements therein not misleading, and promptly prepare
and furnish to ABX a supplement or amendment to the prospectus contained in the
Registration Statement so that the Registration Statement shall not, and such
prospectus as thereafter delivered to the purchaser of Registrable Securities
shall not, contain an untrue statement of a material fact or omit to state any
material fact required to be stated therein or any fact necessary to make the
statements therein not misleading;

         (6) cause all of the Registrable Securities to be listed on each
securities exchange and included in each Trading Market on which or through
which the securities of the same class of Millennium are then listed or traded;
and

         (7) make generally available to its security holders as soon as
practicable (but in any event not later than 90 days following the end of the
12-month period beginning at the end of the fiscal quarter during which the
effective date of the Registration Statement occurs) an earnings statement
(which need not be audited) of Millennium and its subsidiaries complying with
Section 11(a) of the Securities Act or Rule 158 promulgated by the SEC under the
Securities Act.

         (b) Millennium shall use its best efforts to register or qualify the
Registrable Securities covered by the Registration Statement under the
securities laws of each state of the

                                       3
<PAGE>

United States; provided, however, that Millennium shall not be required in
connection with this paragraph (b) to qualify as a foreign corporation or
execute a general consent to service of process in any jurisdiction.

         (c) If Millennium has delivered preliminary or final prospectuses to
ABX and after having done so the prospectus is amended or supplemented to comply
with the requirements of the Securities Act, Millennium shall promptly notify
ABX and, if requested by Millennium, ABX shall immediately cease making offers
or sales of shares under the Registration Statement and return all prospectuses
to Millennium. Millennium shall promptly provide ABX with revised or
supplemented prospectuses and, following receipt of the revised or supplemented
prospectuses, ABX shall be free to resume making offers and sales under the
Registration Statement.

         (d) Millennium shall pay the expenses incurred by it in complying with
its obligations under this Section 2, including all registration and filing
fees, exchange listing fees, blue sky fees and expenses, printing expenses, fees
and expenses of its counsel, and fees and expenses of its accountants, but
excluding (i) any brokerage fees, selling commissions or underwriting discounts
incurred by ABX in connection with sales under the Registration Statement and
(ii) the fees and expenses of any counsel retained by ABX.

3.       LIMITATIONS ON REGISTRATION RIGHTS.

         Millennium may, by written notice to ABX, (i) delay the filing or
effectiveness of a Registration Statement or (ii) suspend a Registration
Statement after effectiveness and require that ABX immediately cease sales of
shares pursuant to such Registration Statement, in either case for a reasonable
period of time (a "Blackout Period"), in the event that (A) Millennium files a
registration statement (other than a registration statement on Form S-4, Form
S-8 or their respective successor forms) with the SEC for a primary public
offering of its equity securities or securities convertible into or exercisable
for equity securities or (B) Millennium is engaged in any activity or
transaction or preparations or negotiations for any activity or transaction that
Millennium desires to keep confidential for business reasons, if Millennium
determines in good faith that the public disclosure requirements imposed on
Millennium under the Securities Act of 1933, as amended (the "Securities Act")
in connection with such Registration Statement would require disclosure of such
activity, transaction, preparations or negotiations.

         If Millennium delays or suspends a Registration Statement or requires
ABX to cease sales of shares pursuant to paragraph (a) above, Millennium shall,
as promptly as practicable

                                       4
<PAGE>

following the termination of the circumstance which entitled Millennium to do
so, take such actions as may be necessary to file or reinstate the effectiveness
of such Registration Statement and/or give written notice to ABX authorizing it
to resume sales pursuant to such Registration Statement. If as a result thereof
the prospectus included in a Registration Statement has been amended to comply
with the requirements of the Securities Act, Millennium shall enclose such
revised prospectus with the notice to ABX given pursuant to this paragraph (b),
and ABX shall make no offers or sales of shares pursuant to such Registration
Statement other than by means of such revised prospectus.

         Notwithstanding anything herein to the contrary, the aggregate number
of days included in any Blackout Periods with respect to each Registration
Statement shall not exceed 60 days, and the period of time that Millennium is
obligated to cause such Registration Statement to remain effective under Section
1 hereof shall be extended for a period of time equal to the number of days
included in such Blackout Periods.

4.       REQUIREMENTS OF ABX.

         (a) Millennium shall not be required to include any Registrable
Securities in the Registration Statement unless ABX furnishes to Millennium in
writing such information regarding it and the proposed sale of Registrable
Securities by ABX as Millennium may reasonably request in writing in connection
with the Registration Statement or as shall be required in connection therewith
by the SEC or any state securities law authorities.

         (b) ABX agrees to effect all sales of Registrable Securities through a
registered broker-dealer. ABX hereby covenants to promptly report to Millennium
in writing any sales made pursuant to the Registration Statement.

5.       INDEMNIFICATION.

         (a) Millennium will indemnify and hold harmless ABX, its officers,
directors, employees and agents and each person who controls ABX within the
meaning of Section 15 of the Securities Act from and against any and all losses,
claims, damages, expenses or liabilities, joint or several, to which they or any
of them become subject under the Securities Act, applicable state securities
laws or under any other statute or at common law or otherwise, as incurred, and,
except as hereinafter provided, will reimburse ABX and each such officer,
director, employee,

                                       5
<PAGE>

agent and controlling person for any legal or other expenses reasonably incurred
by them or any of them in connection with investigating or defending any actions
whether or not resulting in any liability, insofar as such losses, claims,
damages, expenses, liabilities or actions arise out of or are based upon any
untrue statement or alleged untrue statement of a material fact contained in the
Registration Statement, in any preliminary or amended preliminary prospectus or
in the final prospectus (or the Registration Statement or any such prospectus as
from time to time amended or supplemented by Millennium), or arise out of or are
based upon the omission or alleged omission to state therein a material fact
required to be stated therein or necessary in order to make the statements
therein, in the light of the circumstances in which they were made, not
misleading, or any violation by Millennium of the Securities Act or any rule or
regulations promulgated under the Securities Act or any state securities laws
applicable to Millennium and relating to action or inaction required of
Millennium in connection with such registration. Notwithstanding the foregoing,
Millennium shall have no obligation to indemnify ABX if: (i) such untrue
statement or omission was made in such Registration Statement, preliminary or
amended preliminary prospectus or final prospectus in reliance upon and in
conformity with information furnished in writing to Millennium in connection
therewith by ABX expressly for use therein, or (ii) such untrue statement or
alleged untrue statement or omission or alleged omission was contained in a
preliminary prospectus and corrected in a final or amended prospectus copies of
which were delivered to ABX on a timely basis, and ABX failed to deliver a copy
of the final or amended prospectus at or prior to the confirmation of the sale
of the Registrable Securities to the person asserting any such loss, claim,
damage or liability in any case where such delivery is required by the
Securities Act.

         (b) ABX will indemnify and hold harmless Millennium, each of its
directors, each of its officers who have signed or otherwise participated in the
preparation of the Registration Statement and each person, if any, who controls
Millennium within the meaning of Section 15 of the Securities Act from and
against any and all losses, claims, damages, expenses or liabilities, joint or
several, to which they or any of them may become subject under the Securities
Act, applicable state securities law or under any other statute or at common law
or otherwise, and, except as hereinafter provided, will reimburse Millennium and
each such director, officer, or controlling person for any legal or other
expenses reasonably incurred by them or any of them in connection with
investigating or defending any actions whether or not resulting in any
liability, insofar as such losses, claims, damages, expenses, liabilities or
actions arise out of or are based upon any untrue statement of a material fact
contained in the Registration Statement, in any preliminary or amended
preliminary prospectus or in the final prospectus (or in the Registration
Statement or any such prospectus as from time to time amended or supplemented)
or arise out of or are based upon the omission to state therein a material fact
required to be stated therein or necessary in order to make the statements
therein not misleading, but only to the extent that such statement or omission
was made in reliance upon and in conformity with information furnished in
writing to Millennium in connection therewith by ABX expressly for use therein.
Notwithstanding the foregoing, the liability of ABX under this paragraph (b)
shall not exceed the proceeds received by ABX from the sale of Registrable
Securities pursuant to the Registration Statement.

                                       6
<PAGE>

         (c) In order to provide for just and equitable contribution to joint
liability under the Securities Act in any case in which Millennium or ABX makes
a claim for indemnification pursuant to this Section 5 but it is judicially
determined (by the entry of a final judgment or decree by a court of competent
jurisdiction and the expiration of time to appeal or the denial of the last
right of appeal) that such indemnification may not be enforced in such case
notwithstanding that this Section 5 provides for indemnification, in such case,
then Millennium and ABX will contribute to the aggregate losses, claims, damages
or liabilities to which they may be subject (after contribution from others) in
such proportion as is appropriate to reflect the relative fault of Millennium on
the one hand and of ABX on the other in connection with the statements or
omission which resulted in such losses, claims, damages or liabilities, as well
as any other relevant equitable considerations or, if the allocation provided
herein is not permitted by applicable law, in such proportion as shall be
appropriate to reflect the relative benefits received by Millennium and ABX from
the offering of the securities covered by such Registration Statement. The
relative fault of Millennium on the one hand and of ABX on the other shall be
determined by reference to, among other things, whether the untrue or alleged
untrue statement of a material fact or omission or alleged omission to state a
material fact relates to information supplied by Millennium on the one hand or
by ABX on the other, and each party's relative intent, knowledge, access to
information and opportunity to correct or prevent such statement or omission;
provided, however, that, in any such case (i) ABX will not be required to
contribute any amount in excess of the proceeds received by ABX from the sale of
Registrable Securities offered by it pursuant to the Registration Statement; and
(ii) no person or entity guilty of fraudulent misrepresentation within the
meaning of Section 11(f) of the Securities Act will be entitled to contribution
from any person or entity who was not guilty of such fraudulent
misrepresentation.

         (d) Each person entitled to indemnification under this Section 5 (an
"Indemnitee") shall give notice to the party required to provide indemnification
(the "Indemnitor") promptly after such Indemnitee has actual knowledge of any
claim as to which indemnity may be sought, and the Indemnitor shall assume the
defense of any such claim and any litigation resulting therefrom, including the
employment of counsel selected by the Indemnitor (and reasonably acceptable to
the Indemnitee) and shall assume the payment of all expenses. The Indemnitee
shall have the right to employ separate counsel in any such action and to
participate in the defense thereof, but the fees and expenses of such counsel
shall be at the expense of such Indemnitee, except that the Indemnitor shall pay
the fees and expenses of such counsel if counsel retained by the Indemnitor
reasonably determines that dual representation would be inadvisable due to
actual or potential differing interests between the parties. The failure of any
Indemnitee to give notice as provided herein shall not relieve the Indemnitor of
its obligations under this Section 5.3.5 except to the extent the Indemnitor is
materially prejudiced thereby. The Indemnitor shall not be liable for any
settlement of any such action or proceedings effected without its written
consent, but if settled with its written consent, or if there be a final
judgment for the plaintiff in any such action or proceeding, the Indemnitor
shall indemnify and hold harmless such Indemnitee from and against any loss or
liability (to the extent stated above) by

                                       7
<PAGE>

reason of such settlement or judgment. Each Indemnitee shall furnish such
information regarding itself or the claim in question as an Indemnitor may
reasonably request in writing and as shall be reasonably required in connection
with the defense of such claim and litigation resulting therefrom.

6. LEGENDS . Each certificate representing Registrable Securities initially
shall bear a legend substantially in the following form:

                  "The shares represented by this certificate have not been
                  registered under the Securities Act of 1933, as amended, and
                  may not be offered, sold or otherwise transferred, pledged or
                  hypothecated, other than to a wholly-owned subsidiary of the
                  holder or pursuant to Rule 144 under such Act, unless and
                  until such shares are registered under such Act or an opinion
                  of counsel satisfactory to Millennium Pharmaceuticals, Inc. is
                  obtained to the effect that such registration is not
                  required."

The foregoing legend shall be removed from the certificates representing any
Registrable Securities, at the request of the holder thereof, at such time as
they become (a) subject to a Registration Statement declared effective under the
Securities Act, or (b) eligible for resale pursuant to Rule 144(k) under the
Securities Act.

7.       RULE 144 INFORMATION. With a view to making available to ABX the
benefits of Rule 144 under the Securities Act and any other rule or regulation
of the SEC that may at any time permit ABX to sell Registrable Securities to the
public without registration, Millennium agrees that it shall, at all times from
the date hereof until all of the Registrable Securities shall have been sold by
ABX:

         (a) make and keep available adequate current public information, as
those terms are understood and defined in Rule 144 under the Securities Act;

         (b) use its best efforts to file with the SEC in a timely manner all
reports and other documents required to be filed by Millennium under the
Securities Act and the Securities Exchange Act of 1934, as amended (the
"Exchange Act"); and

                                       8
<PAGE>

         (c) furnish to ABX, promptly upon request, a written statement by
Millennium as to its compliance with the reporting requirements of Rule 144 and
of the Securities Act and the Exchange Act, a copy of the most recent annual or
quarterly report of Millennium, and such other reports and documents of
Millennium and other information in the possession of or reasonably obtainable
by Millennium as ABX may reasonably request in availing itself of any rule or
regulation of the SEC allowing ABX to sell any such securities without
registration.

                                       9

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