Document:

EXHIBIT 10.4
                                                                    ------------

THIS PROMISSORY NOTE AND THE RIGHTS AND OBLIGATIONS EVIDENCED HEREBY, INCLUDING
THE RIGHT TO DEMAND PAYMENT HEREUNDER AND TO ENFORCE ANY INSTRUMENTS SECURING
THIS NOTE, ARE MADE EXPRESSLY SUBJECT AND SUBORDINATE TO CERTAIN RIGHTS OF THE
HOLDER(S) OF THE INDEBTEDNESS AND OTHER OBLIGATIONS OWING FROM TIME TO TIME BY
HAROLD'S STORES, INC. AND CERTAIN OF ITS SUBSIDIARIES PURSUANT TO A LOAN AND
SECURITY AGREEMENT ENTERED INTO AS OF FEBRUARY 5, 2003, BETWEEN HAROLD'S STORES,
INC. AND CERTAIN OF ITS SUBSIDIARIES AND WELLS FARGO RETAIL FINANCE II, LLC, AS
THE SAME MAY BE AMENDED, MODIFIED, RESTATED AND SUPPLEMENTED FROM TIME TO TIME,
ALL AS MORE PARTICULARLY PROVIDED PURSUANT TO THE TERMS OF THE SUBORDINATION AND
INTERCREDITOR AGREEMENT ENTERED INTO IN AUGUST 2006, AMONG HAROLD'S STORES, INC.
AND CERTAIN OF ITS SUBSIDIARIES, RONHOW, LLC AND WELLS FARGO RETAIL FINANCE II,
LLC, AS THE SAME MAY BE AMENDED, MODIFIED, RESTATED AND SUPPLEMENTED FROM TIME
TO TIME, THE TERMS OF WHICH SUBORDINATION AND INTERCREDITOR AGREEMENT BY THIS
REFERENCE ARE MADE A PART OF THIS PROMISSORY NOTE. PAYEE AND EACH OTHER HOLDER,
ASSIGNEE OR TRANSFEREE OF THIS PROMISSORY NOTE, BY ACCEPTANCE HEREOF, AGREE TO
BE BOUND BY SUCH SUBORDINATION AND INTERCREDITOR AGREEMENT.

                      SUBORDINATED SECURED PROMISSORY NOTE
                      ------------------------------------

$10,000,000                                                      August 31, 2006

         FOR VALUE RECEIVED, the undersigned, HAROLD'S STORES, INC., an Oklahoma
corporation ("Maker"), promises to pay to the order of RONHOW, LLC, a Georgia
limited liability company ("Payee"; Payee and any subsequent holder[s] hereof
are hereinafter referred to collectively as "Holder"), at the office of Payee at
3290 Northside Parkway, Suite 250, Atlanta, Georgia 30302, or at such other
place as Holder may designate to Maker in writing from time to time, the
principal sum of up to TEN MILLION AND NO/100THS DOLLARS ($10,000,000) or so
much thereof as is advanced hereunder, together with interest on the outstanding
principal balance hereof from the date hereof at the rate of thirteen and
one-half percent (13.5%) per annum (computed on the basis of a 360-day year
consisting of twelve 30 day months).

         The principal amount of, and accrued but unpaid interest on, this Note
shall be paid in full no later than May 31, 2010 (the "Maturity Date"), unless
repaid earlier pursuant to the provisions of this Note.

         Interest shall be payable, in arrears, on the first day of each month
or, if any such date shall not be a business day, on the next succeeding
business day to occur after such date (each date on which interest shall be so
payable, an "Interest Payment Date"), beginning on October 1, 2006; provided
that the last such interest payment shall be due and payable on the Maturity
Date.

<PAGE>

         On each Interest Payment Date, if any interest accrued hereunder is not
actually paid in cash to Holder, at Holder's option and in Holder's sole
discretion, the outstanding principal balance of this Note shall be increased by
an amount equal to the difference between (i) interest accruing on the principal
balance during the period from and including the previous Interest Payment Date
to, but not including, such Interest Payment Date and (ii) interest actually
paid in cash on the principal balance on such Interest Payment Date, and such
amount shall thereafter earn interest as principal. Any such increase to the
principal amount of this Note shall be deemed a payment of interest then due
under this Note, and no Event of Default shall occur hereunder as a result
thereof.

         This Note is given for one or more advances to be made by Payee to
Maker pursuant to that certain Subordinated Loan Agreement, dated as of even
date herewith, by and between Payee and Maker (the "Loan Agreement"). The entire
balance of all advances hereunder that may be outstanding from time to time
shall constitute a single indebtedness, and no single advance increasing the
outstanding balance hereof shall itself be considered a separate loan, but
rather an increase in the aggregate outstanding balance of the indebtedness
evidenced hereby. Advances, accrued interest, and payments shall be posted by
the Payee upon an appropriate accounting record, which record (and all computer
printouts thereof) shall constitute prima facie evidence of the outstanding
principal and interest on the advances.

         Subject to the Intercreditor Agreement, the indebtedness evidenced
hereby may be prepaid in whole or in part, at any time and from time to time,
without premium or penalty. Any such prepayments shall be credited first to any
accrued and unpaid interest and then to the outstanding principal balance
hereof.

         Time is of the essence of this Note. It is hereby expressly agreed that
in the event that any Event of Default shall occur under and as defined in the
Loan Agreement, which Event of Default is not cured following the giving of any
applicable notice and within any applicable cure period set forth in the Loan
Agreement, then, and in such event, the entire outstanding principal balance of
the indebtedness evidenced hereby, together with any other sums advanced
hereunder, under the Loan Agreement and/or under any other instrument or
document now or hereafter evidencing, securing or in any way relating to the
indebtedness evidenced hereby, together with all unpaid interest accrued
thereon, shall, at the option of Holder and without notice to Maker, at once
become due and payable and may be collected forthwith, regardless of the
stipulated date of maturity. Upon the occurrence of any Event of Default as set
forth herein, at the option of Holder and without notice to Maker, all accrued
and unpaid interest, if any, shall be added to the outstanding principal balance
hereof, and the entire outstanding principal balance, as so adjusted, shall bear
interest thereafter until paid at an annual rate (the "Default Rate") equal to
the lesser of (i) the rate that is four percentage points (4.0%) in excess of
the above-specified interest rate, or (ii) the maximum rate of interest allowed
to be charged under applicable law (the "Maximum Rate"), regardless of whether
or not there has been an acceleration of the payment of principal as set forth
herein. All such interest shall be paid at the time of and as a condition
precedent to the curing of any such Event of Default.

         In the event this Note is placed in the hands of an attorney for
collection, or if Holder incurs any costs incident to the collection of the
indebtedness evidenced hereby, Maker and any

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<PAGE>

endorsers hereof agree to pay to Holder an amount equal to all such costs,
including without limitation all reasonable attorneys' fees and all court costs.

         Presentment for payment, demand, protest and notice of demand, protest
and nonpayment are hereby waived by Maker and all other parties hereto. No
failure to accelerate the indebtedness evidenced hereby by reason of an Event of
Default hereunder, acceptance of a past-due installment or other indulgences
granted from time to time, shall be construed as a novation of this Note or as a
waiver of such right of acceleration or of the right of Holder thereafter to
insist upon strict compliance with the terms of this Note or to prevent the
exercise of such right of acceleration or any other right granted hereunder or
by applicable law. No extension of the time for payment of the indebtedness
evidenced hereby or any installment due hereunder, made by agreement with any
person now or hereafter liable for payment of the indebtedness evidenced hereby,
shall operate to release, discharge, modify, change or affect the original
liability of Maker hereunder or that of any other person now or hereafter liable
for payment of the indebtedness evidenced hereby, either in whole or in part,
unless Holder agrees otherwise in writing. This Note may not be changed orally,
but only by an agreement in writing signed by the party against whom enforcement
of any waiver, change, modification or discharge is sought.

         The indebtedness and other obligations evidenced by this Note are
further evidenced by (i) the Loan Agreement and (ii) certain other instruments
and documents, as may be required to protect and preserve the rights of Maker
and Payee, as more specifically described in the Loan Agreement.

         All agreements herein made are expressly limited so that in no event
whatsoever, whether by reason of advancement of proceeds hereof, acceleration of
maturity of the unpaid balance hereof or otherwise, shall the amount paid or
agreed to be paid to Holder for the use of the money advanced or to be advanced
hereunder exceed the maximum amounts collectible under applicable laws in effect
from time to time (the "Maximum Rate"). If, from any circumstances whatsoever,
the fulfillment of any provision of this Note or any other agreement or
instrument now or hereafter evidencing, securing or in any way relating to the
indebtedness evidenced hereby shall involve the payment of interest in excess of
the Maximum Rate, then, ipso facto, the obligation to pay interest hereunder
shall be reduced to the Maximum Rate; and if from any circumstance whatsoever,
Holder shall ever receive interest, the amount of which would exceed the amount
collectible at the Maximum Rate, such amount as would be excessive interest
shall be applied to the reduction of the principal balance remaining unpaid
hereunder and not to the payment of interest. This provision shall control every
other provision in any and all other agreements and instruments existing or
hereafter arising between Maker and Holder with respect to the indebtedness
evidenced hereby.

         This Note is intended as a contract under and shall be construed and
enforceable in accordance with the laws of the State of Georgia.

         Maker hereby irrevocably consents to the jurisdiction of the United
States District Court for the Northern District of Georgia and of all Georgia
state courts sitting in Fulton County, Georgia, for the purpose of any
litigation to which Lender may be a party and which concerns this Note or the
indebtedness evidenced hereby. It is further agreed that venue for any such

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<PAGE>

action shall lie exclusively with courts sitting in Fulton County, Georgia,
unless Holder agrees to the contrary in writing.

         HOLDER AND MAKER HEREBY KNOWINGLY AND VOLUNTARILY WITH THE BENEFIT OF
COUNSEL WAIVE TRIAL BY JURY IN ANY ACTIONS, PROCEEDINGS, CLAIMS OR
COUNTERCLAIMS, WHETHER IN CONTRACT OR TORT OR OTHERWISE, AT LAW OR IN EQUITY,
ARISING OUT OF OR IN ANY WAY RELATING TO THIS AGREEMENT OR THE LOAN DOCUMENTS.

         As used herein, the terms "Maker" and "Holder" shall be deemed to
include their respective successors, legal representatives and assigns, whether
by voluntary action of the parties or by operation of law.

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<PAGE>

         IN WITNESS WHEREOF, Maker has caused this Note to be executed and
delivered by its duly authorized officer as of the date first shown above.

                                            MAKER:

                                            HAROLD'S STORES, INC.,
                                            an placeStateOklahoma corporation

                                            By: /s/ Leonard M. Snyder
                                                ---------------------------
                                            Title: Interim CEO
                                                   ------------------------

            [Signature Page to Subordinated Secured Promissory Note]

                                        5EXHIBIT 10.5
                                                                    ------------

THIS SECURITY AGREEMENT AND THE RIGHTS AND OBLIGATIONS EVIDENCED HEREBY,
INCLUDING THE RIGHT TO DEMAND PAYMENT HEREUNDER AND TO ENFORCE ANY INSTRUMENTS
SECURING THIS SECURITY AGREEMENT, ARE MADE EXPRESSLY SUBJECT AND SUBORDINATE TO
CERTAIN RIGHTS OF THE HOLDER(S) OF THE INDEBTEDNESS AND OTHER OBLIGATIONS OWING
FROM TIME TO TIME BY HAROLD'S STORES, INC. AND CERTAIN OF ITS SUBSIDIARIES
PURSUANT TO A LOAN AND SECURITY AGREEMENT ENTERED INTO AS OF FEBRUARY 5, 2003,
BETWEEN HAROLD'S STORES, INC. AND CERTAIN OF ITS SUBSIDIARIES AND WELLS FARGO
RETAIL FINANCE II, LLC, AS THE SAME MAY BE AMENDED, MODIFIED, RESTATED AND
SUPPLEMENTED FROM TIME TO TIME, ALL AS MORE PARTICULARLY PROVIDED PURSUANT TO
THE TERMS OF THE SUBORDINATION AND INTERCREDITOR AGREEMENT ENTERED INTO IN
AUGUST 2006, AMONG HAROLD'S STORES, INC. AND CERTAIN OF ITS SUBSIDIARIES,
RONHOW, LLC AND WELLS FARGO RETAIL FINANCE II, LLC, AS THE SAME MAY BE AMENDED,
MODIFIED, RESTATED AND SUPPLEMENTED FROM TIME TO TIME, THE TERMS OF WHICH
SUBORDINATION AND INTERCREDITOR AGREEMENT BY THIS REFERENCE ARE MADE A PART OF
THIS SECURITY AGREEMENT. PAYEE AND EACH OTHER HOLDER, ASSIGNEE OR TRANSFEREE OF
THIS SECURITY AGREEMENT, BY ACCEPTANCE HEREOF, AGREE TO BE BOUND BY SUCH
SUBORDINATION AND INTERCREDITOR AGREEMENT.

                         SUBORDINATED SECURITY AGREEMENT

         THIS SUBORDINATED SECURITY AGREEMENT (this "SECURITY AGREEMENT") is
made and entered into as of August 31, 2006 by HAROLD'S STORES, INC., an
Oklahoma corporation ("PARENT") and HAROLD'S FINANCIAL CORPORATION, an Oklahoma
corporation, HAROLD'S DIRECT, INC., an Oklahoma corporation, HAROLD'S STORES OF
TEXAS, L.P., a Texas limited partnership, HAROLD'S OF JACKSON, INC., a
Mississippi corporation, THE CORNER PROPERTIES, INC., an Oklahoma corporation,
HAROLD'S LIMITED PARTNERS, INC., an Oklahoma corporation, HAROLD'S DBO, INC., a
Texas corporation and HSTX, INC., a Texas corporation (collectively, the
"GUARANTORS"; Parent and Guarantors are referred to herein individually and
collectively as "DEBTOR"), in favor of RONHOW, LLC, a Georgia limited liability
company ("SECURED PARTY").

         SECTION 1. GRANT OF SECURITY INTEREST. For valuable consideration, the
receipt and sufficiency of which are hereby acknowledged and in order to secure
the payment and performance of the "OBLIGATIONS" (as hereinafter defined), each
Debtor hereby grants to Secured Party a continuing security interest in all of
such Debtor's estate, right, title and interest in and to the following
property, wherever located and whether now existing or hereafter arising or
acquired (collectively, the "COLLATERAL"):

<PAGE>

                  (a) Accounts,

                  (b) Chattel Paper,

                  (c) DDAs (other than the Excluded DDAs, to the extent Debtor
         is not permitted to grant a Lien in such Excluded DDA pursuant to
         applicable law),

                  (d) Documents,

                  (e) General Intangibles,

                  (f) Goods (including, without limitation, Inventory and
         Equipment),

                  (g) Instruments,

                  (h) Investment Property,

                  (i) Letter of Credit Rights,

                  (j) The Commercial Tort Claims set forth on Schedule A,

                  (k) Money or other assets of Debtor that now or hereafter come
         into the possession, custody, or control of Secured Party, and

                  (l) Any and all proceeds and products, whether tangible or
         intangible, of any of the foregoing, including proceeds of insurance
         covering any or all of the foregoing, and any and all Accounts, Books,
         General Intangibles, (Goods, including, without limitation, Equipment
         and Inventory), Investment Property, Negotiable Collateral, money,
         DDAs, or other tangible or intangible property resulting from the sale,
         exchange, collection or other disposition of any of the foregoing, or
         any portion thereof or interest therein, and the proceeds thereof.

The following capitalized terms when used herein shall have the meaning set
forth below:

         "Accounts" means all of Debtor's now owned or hereafter acquired right,
title, and interest with respect to "accounts" (as such term is defined from
time to time in the Code), and any and all supporting obligations in respect
thereof.

         "Books" means all of Debtor's and its Subsidiaries' now owned or
hereafter acquired books and records (including all of its Records indicating,
summarizing, or evidencing its assets (including the Collateral) or liabilities,
all of each Debtor's or its Subsidiaries' Records related to its or their
business operations or financial condition, and all of its or their goods of
General Intangibles related to such information.

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<PAGE>

         "Chattel Paper" means all of Debtor's now owned or hereafter acquired
right, title, and interest with respect to "chattel paper," including, without
limitation, "tangible chattel paper" and "electronic chattel paper," as such
terms are defined from time to time in the Code, and any and all supporting
obligations in respect thereof.

         "Code" means the Uniform Commercial Code, as in effect from time to
time in the State of Georgia.

         "Commercial Tort Claim" means any now existing or hereafter arising
"commercial tort claim," as such term is defined from time to time in the Code.

         "DDA" means any checking or other "deposit account" (as such term is
defined from time to time in the Code) maintained by any Debtor.

         "Documents" means all of Debtor's now owned or hereafter acquired
right, title, and interest with respect to any "document" as such term is
defined in the Code, and any and all supporting obligations in respect thereof.

         "Equipment" means all of Debtor's now owned or hereafter acquired
right, title, and interest with respect to "equipment" (as such term is defined
from time to time in the Code), fixtures and vehicles (including motor
vehicles), including all attachments, accessories, accessions, replacements,
substitutions, additions, and improvements to any of the foregoing.

         "General Intangibles" means all of Debtor's now owned or hereafter
acquired right, title, and interest with respect to "general intangibles" (as
such term is defined from time to time in the Code), and any and all supporting
obligations in respect thereof.

         "Goods" means all of Debtor's now owned or hereafter acquired right,
title, and interest with respect to "goods," as that term is defined from time
to time in the Code, including, without limitation, any and all Inventory and
Equipment.

         "Instruments" means all of Debtor's now owned or hereafter acquired
right, title, and interest with respect to "instruments," including, without
limitation, any "promissory notes," as such terms are defined from time to time
in the Code, and any and all supporting obligations in respect thereof.

         "Investment Property" means all of Debtor's now owned or hereafter
acquired right, title, and interest with respect to "investment property," as
such term is defined from time to time in the Code, and any and all supporting
obligations in respect thereof.

         "Inventory" means all Debtor's now owned or hereafter acquired right,
title, and interest with respect to inventory, including goods held for sale or
lease or to be furnished under a contract of service, goods that are leased by a
Debtor as lessor, goods that are furnished by a

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<PAGE>

Debtor under a contract of service, and raw materials, work in process, or
materials used or consumed in a Debtor's business.

         "Letter of Credit Rights" means all of Debtor's now owned or hereafter
acquired right, title, and interest with respect to "letter of credit rights,"
as that term is defined from time to time in the Code, and any and all
supporting obligations in respect thereof.

         "Negotiable Collateral" means all of Debtor's now owned or hereafter
acquired right, title, and interest with respect to letters of credit,
Instruments, Documents and Goods covered by Documents, Chattel Paper and all
supporting obligations of the foregoing.

         SECTION 2. OBLIGATIONS. The security interest granted hereunder shall
secure the following obligations (the "OBLIGATIONS"):

                  (a) the payment and performance of all obligations of Debtor,
         whether now existing or hereafter arising, under that certain
         Subordinated Loan Agreement, dated as of even date herewith, entered
         into by and between Parent and Secured Party (the "LOAN AGREEMENT") and
         that certain Subordinated Secured Promissory Note, dated of even date
         herewith, made by Parent to the order of Secured Party, in the
         principal face amount of $10,000,000 (the "NOTE") (as each may be
         amended, supplemented, modified, extended or restated from time to
         time), and

                  (b) the payment and performance of all obligations of
         Guarantors, whether now existing or hereafter arising, under that
         certain Subordinated Guaranty, dated as of even date herewith, made by
         Guarantors for the benefit of Secured Party (the "GUARANTY") (as the
         same may be amended, supplemented, modified, extended or restated from
         time to time).

         SECTION 3. REPRESENTATIONS AND WARRANTIES. Debtor represents and
warrants to Secured Party on the date hereof that the following statements are
correct and complete:

         (A) TITLE TO COLLATERAL. Except for (i) any security interest granted
in favor of Senior Lender (as defined in Section 7(N) below) or Secured Party or
(ii) adverse claims, interests, liens or encumbrances permitted under the Senior
Loan Agreement (as defined in Section 7(N) below), Debtor has good and
marketable title to the Collateral, free of all adverse claims, interests, liens
or encumbrances.

         (B) VALIDITY OF SECURITY AGREEMENT; AUTHORITY. This Security Agreement
is the legally valid and binding obligation of Debtor, enforceable against
Debtor in accordance with its terms, except as such enforcement may be limited
by bankruptcy, insolvency, reorganization, moratorium or similar state or
federal debtor relief laws from time to time in effect which affect the
enforcement of creditors' rights in general and general principles of equity.
Debtor has the power and authority to execute, deliver, perform its obligations
under, and to grant the security interest provided for in, this Security
Agreement and all related documents, and has taken all

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<PAGE>

necessary action to authorize the execution, delivery and performance of, and
grant of a security interest pursuant to, this Security Agreement and all
related documents.

         (C) STATE OF INCORPORATION OF DEBTOR. Parent and each Guarantor are
incorporated or formed under the laws of the state indicated after its name in
the first paragraph of this Security Agreement.

         (D) LOCATION OF INVENTORY AND EQUIPMENT. Except as set forth on
Schedule B, the Inventory and Equipment are not stored with a bailee,
warehouseman, or similar party. The Inventory and Equipment are located only at
the locations identified on Schedule B or at a location designated for use in
connection with a Warehouse Sale. Debtor shall (a) notify Secured Party of the
location of each Warehouse Sale at least thirty days prior to the date on which
any Inventory shall arrive at such location; and (b) take such action as is
requested by Secured Party to ensure Secured Party's access to such site
throughout the duration of such Warehouse Sale, including providing any
financing statements, fixture filings or other documents necessary to perfect
and continue the perfection of Secured Party's liens on such assets, and upon
Secured Party's request, also provide to Secured Party a bailee acknowledgement
or collateral access agreement, if and as applicable.

         SECTION 4. COVENANTS. Until payment is made in full on the Obligations,
Debtor will comply with all covenants in this Section 4, unless Debtor has
received the written consent of Secured Party:

         (A) TITLE TO COLLATERAL. Debtor shall not create or permit the
existence of claims, interests, liens, or other encumbrances against any of the
Collateral, except claims, interest, liens or encumbrances of the type permitted
under the Senior Loan Agreement (as defined in Section 7(N) below). Upon
obtaining knowledge thereof, Debtor shall provide prompt written notice to
Secured Party of any future claims, interest, liens or encumbrances against any
of the Collateral, and shall defend diligently Debtor's and Secured Party's
interests (including the priority of such interests) in all Collateral.

         (B) CHANGE IN LOCATION, NAME, ETC. Debtor agrees not to (i) change the
location of its place of business or chief executive office; or (ii) change its
name, identity, employer identification number, state organizational number or
state of incorporation or organization, unless it shall have given Secured Party
thirty (30) days' prior written notice of its intention to take any action
described in clauses (i) through (ii), and executed and delivered to Secured
Party all financing statements and financing statement amendments which Secured
Party may request in connection therewith and, if requested by Secured Party,
prior to the date on which Debtor proposes to take any such action, Debtor will,
at its own cost and expense, cause to be delivered to Secured Party an opinion
of counsel, in form and content satisfactory to Secured Party, as to the
continued perfection and priority of the security interests created hereunder.

         (C) FURTHER ASSURANCES. Upon the request of Secured Party, Debtor shall
do all acts and things as Secured Party may from time to time deem necessary or
advisable to enable Debtor

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<PAGE>

to grant a security interest in the Collateral and to perfect, maintain and
continue the perfection and priority of the security interest of Secured Party
in the Collateral, or to facilitate the exercise by Secured Party of any rights
or remedies granted to Secured Party hereunder or provided by law. Without
limiting the foregoing, Debtor agrees to give Secured Party prompt written
notice of any Commercial Tort Claim not specifically identified in this Security
Agreement, any Letter of Credit Right and all reports of new patentable,
copyrightable or trademarkable materials provided to the Senior Lender (as
defined in Section 7(N) below), and execute, in form and substance satisfactory
to Secured Party, such financing statements, continuation statements, amendments
thereto, supplemental agreements, assignments, notices of assignments, and other
instruments and documents as Secured Party may from time to time request. In
addition, in the event the Collateral or any part thereof consists of
instruments, documents, tangible chattel paper or money (whether or not proceeds
of the Collateral), Debtor shall, upon the request of Secured Party, deliver
possession thereof to Secured Party (or to a designee of Secured Party retained
for that purpose), together with any appropriate endorsements and/or
assignments; in the event the Collateral or any part thereof consists of
letter-of-credit rights, investment property, deposit accounts or electronic
chattel paper, Debtor shall, upon the request of Secured Party, take such steps
necessary for the Secured Party to obtain "control" thereof (as such terms are
defined in the Code with corresponding provisions thereof defining what
constitutes "control" for such items of Collateral). Secured Party shall use
reasonable care in the custody and preservation of any Collateral in its
possession or control, but shall not be required to take any steps necessary to
preserve rights against prior parties. All costs and expenses incurred by
Secured Party to establish, perfect, maintain, determine the priority of, or
release the security interest granted hereunder (including the cost of all
filings, recordings, and taxes thereon and the fees and expenses of any designee
of Secured Party) shall become part of the obligations secured hereby and be
paid by Debtor on demand.

         (D) INSURANCE. Debtor shall maintain such insurance with such insurance
companies, in such amounts, and covering such risks, as are usually carried by
companies engaged in the same business and similarly situated.

         (E) RECEIVABLES. Debtor shall preserve, enforce, and collect all
accounts, chattel paper, instruments, documents and general intangibles, whether
now owned or hereafter acquired or arising (the "RECEIVABLES"), in a diligent
fashion and, if a Default shall have occurred and be continuing hereunder, upon
the request of Secured Party, Debtor shall execute an agreement in form and
content satisfactory to Secured Party by which Debtor shall direct all account
debtors and obligors on instruments to make payment to a lock box deposit
account under the exclusive control of Secured Party.

         (F) CONDITION OF COLLATERAL. Debtor shall at all times hereafter, at
its own expense, maintain and preserve all such Collateral constituting property
necessary or useful in the conduct of its business and each and every part and
parcel thereof, in good repair, working order and condition, ordinary wear and
tear excepted.

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<PAGE>

         (G) CONDITION OF BOOKS AND RECORDS. Debtor shall maintain complete,
accurate and up-to-date books, records, accounts, and other information relating
to all Collateral in such form and in such detail as may be satisfactory to
Secured Party, and shall allow Secured Party or its representatives to examine
and copy such books, records, accounts and other information at any reasonable
time. Debtor shall furnish to Secured Party statements and schedules further
identifying and describing the Collateral and such other reports in connection
with the Collateral as Secured Party may reasonably request, all in reasonable
detail.

         (H) RIGHT OF INSPECTION. At all reasonable times upon the request of
Secured Party, Debtor shall allow Secured Party or its representatives to visit
any of Debtor's properties or locations so that Secured Party or its
representatives may confirm, inspect and appraise any of the Collateral.

         SECTION 5. DEFAULT. The occurrence of an Event of Default under the
Loan Agreement, or any breach of the terms and conditions of this Security
Agreement shall constitute a "Default" hereunder.

         SECTION 6. RIGHTS AND REMEDIES. Upon the occurrence of any Default
hereunder, Secured Party may declare all obligations secured hereby to be
immediately due and payable and, to the extent permitted by applicable law, may
exercise any and all rights and remedies of a secured party in the enforcement
of its security interest under the Code, this Security Agreement, or any other
applicable law. Without limiting the foregoing:

         (A) DISPOSITION OF COLLATERAL. Secured Party may sell, lease, or
otherwise dispose of all or any part of the Collateral, in its then present
condition or following any commercially reasonable preparation or processing
thereof, whether by public or private sale or at any brokers' board, in lots or
in bulk, for cash, on credit or otherwise, with or without representations or
warranties, and upon such other terms as may be acceptable to Secured Party, and
Secured Party may purchase such Collateral at any public sale. To the extent
permitted by law, Debtor hereby specifically waives all rights of redemption,
stay or appraisal which it has or may have under any law now existing or
hereafter adopted. At any time when advance notice of sale is required, Debtor
agrees that twenty (20) days' prior written notice shall be reasonable. In
connection with the foregoing, Secured Party may:

                  1. require Debtor to assemble the Collateral and all records
pertaining thereto and make such Collateral and records available to Secured
Party at a place to be designated by Secured Party which is reasonably
convenient to both parties;

                  2. enter the premises of Debtor or premises under Debtor's
control and take possession of the Collateral;

                  3. without charge by Debtor, use or occupy the premises of
Debtor or premises under Debtor's control, including, without limitation,
warehouse and other storage facilities;

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<PAGE>

                  4. without charge by Debtor, use or sublicense the use of any
patent, trademark, service mark, trade name or other intellectual property or
technical process used by Debtor in connection with any of the Collateral, (and
such use or right of use shall inure to the benefit of all successors, assigns
and transferees of Secured Party and its successors, assigns and transferees,
whether by voluntary conveyance, operation of law, assignment, transfer,
foreclosure, deed in lieu of foreclosure or otherwise);

                  5. rely conclusively upon the advice or instructions of any
one or more brokers or other experts selected by Secured Party to determine the
method or manner of disposition of any of the Collateral and, in such event, any
disposition of the Collateral by Secured Party in accordance with such advice or
instructions shall be deemed to be commercially reasonable; and

                  6. compromise and settle or sell, assign or transfer or ask,
collect, receive or issue any and all claims possessed by Debtor which
constitute a portion of the Collateral, all in the name of Debtor.

         (B) COLLECTION OF RECEIVABLES. Secured Party may, but shall not be
obligated to, take all actions reasonable or necessary to preserve, enforce or
collect the Receivables, including, without limitation, the right to notify
account debtors and obligors on instruments to make direct payment to Secured
Party, to permit any extension, compromise or settlement of any of the
Receivables for less than face value, or to sue on any Receivable, all without
prior notice to Debtor.

         (C) PROCEEDS. Secured Party may collect and apply all proceeds of the
Collateral, and may endorse the name of Debtor in favor of Secured Party on any
and all checks, drafts, money orders, notes, acceptances, or other instruments
of the same or a different nature, constituting, evidencing, or relating to the
Collateral which may come into the possession of Secured Party. Secured Party
may receive and open all mail addressed to Debtor and remove therefrom any cash
or non-cash items of payment constituting proceeds of the Collateral.

         (D) INSURANCE ADJUSTMENTS. Secured Party may adjust, settle, and cancel
any and all insurance covering any Collateral, endorse the name of Debtor on any
and all checks or drafts drawn by any insurer, whether representing payment for
a loss or a return of unearned premium, and execute any and all proofs of claim
and other documents or instruments of every kind required by any insurer in
connection with any payment by such insurer.

         (E) APPOINTMENT OF RECEIVER. Secured Party shall have the right to the
appointment of a receiver for the properties and assets of Debtor and Debtor
hereby consents to such right and to such appointment and hereby waives any
objection Debtor may have thereto and hereby waives the right to have a bond or
other security posted by Secured Party or any other person in connection
therewith.

                                        8
<PAGE>

The net proceeds of any disposition of the Collateral may be applied by Secured
Party, after deducting its reasonable expenses incurred in such disposition, to
the payment in whole or in part of the Obligations. The enumeration of the
foregoing rights and remedies is not intended to be exhaustive, and the exercise
of any right and/or remedy shall not preclude the exercise of any other rights
or remedies, all of which are cumulative and non-exclusive.

         SECTION 7. OTHER PROVISIONS.

         (A) AMENDMENT AND WAIVER. Without the prior written consent of Secured
Party, no amendment or waiver of, or consent to any departure by Debtor from,
any provision hereunder shall be effective. Any such amendment, waiver or
consent shall be effective only in the specific instance and for the specific
purpose for which given. No delay or failure by Secured Party to exercise any
remedy hereunder shall be deemed a waiver thereof or of any other remedy
hereunder. A waiver on any one occasion shall not be construed as a bar to or
waiver of any remedy on any subsequent occasion.

         (B) COSTS AND ATTORNEYS' FEES. Except as prohibited by law, if at any
time Secured Party employs counsel in connection with the creation, perfection,
preservation, or release of the security interest of Secured Party in the
Collateral or the enforcement of any of Secured Party's rights or remedies
hereunder, all of Secured Party's reasonable attorneys' fees arising from such
services and all other reasonable expenses, costs, or charges relating thereto
shall become part of the obligations secured hereby and be paid by Debtor on
demand.

         (C) REVIVAL OF OBLIGATIONS. To the extent Debtor or any third party
makes a payment or payments to Secured Party or Secured Party enforces its
security interest or exercises any right of set off, and such payment or
payments or the proceeds thereof are subsequently invalidated, declared to be
fraudulent or preferential, set aside, and/or required to be repaid to a
trustee, receiver, or any other party under any bankruptcy, insolvency or other
law or in equity, then, to the extent of such recovery, the obligations secured
hereby or any part thereof originally intended to be satisfied shall be revived
and continued in full force and effect as if such payment or payments had not
been made, or such enforcement or set off had not occurred.

         (D) PERFORMANCE BY SECURED PARTY. Upon the occurrence of a Default
hereunder, Secured Party may, at its option and without notice to or demand upon
Debtor, without obligation and without waiving or diminishing any of its other
rights or remedies hereunder, fully perform or discharge any of such duties. All
costs and expenses incurred by Secured Party in connection therewith, together
with interest thereon at a rate of 18% per annum, shall become part of the
obligations secured hereby and be paid by Debtor upon demand.

         (E) INDEMNIFICATION, ETC. Debtor hereby expressly indemnifies and holds
Secured Party harmless from any and all claims, causes of action, or other
proceedings, and from any and all liability, loss, damage, and expense of every
nature, arising by reason of Secured Party's enforcement of its rights and
remedies hereunder, or by reason of Debtor's failure to comply with any
applicable law or regulation, other than any such claim, cause of action or
other

                                        9
<PAGE>

proceeding, liability, loss, damage or expense arising by reason of gross
negligence or willful misconduct on the part of Secured Party. In any suit,
proceeding or action brought by Secured Party under any account for any sum
owing thereunder, or to enforce any provisions of any account, Debtor will save,
indemnify and keep Secured Party harmless from and against all expense, loss or
damage suffered by reason of any defense, set off, counterclaim, recoupment or
reduction of liability whatsoever of the account debtor or any other obligor
thereunder, arising out of a breach by Debtor of any obligation thereunder or
arising out of any other agreement, indebtedness or liability at any time owing
to or in favor of such account debtor or obligor or its successors from Debtor
(except to the extent any such expense, loss or damage results from the gross
negligence or willful misconduct of Secured Party). The obligations of Debtor
under this Section 7(E) shall survive the termination of the other provisions of
this Security Agreement.

         (F) POWER OF ATTORNEY. Debtor hereby constitutes and appoints Secured
Party or Secured Party's designee during the term of any obligations secured by
this Security Agreement as its attorney-in-fact, effective upon the occurrence
of a Default, which appointment is an irrevocable, durable agency, coupled with
an interest, with full power of substitution. This power of attorney and mandate
is for the purpose of taking, whether in the name of Debtor or in the name of
Secured Party, any action which Debtor is obligated to perform hereunder or
which Secured Party may deem necessary or advisable to accomplish the purposes
of this Security Agreement. The powers conferred upon Secured Party in this
Section are solely to protect its interest in the Collateral and shall not
impose any duty upon Secured Party to exercise any such powers. Secured Party
shall exercise its power of attorney only upon occurrence of a Default.

         (G) CONTINUING EFFECT. This Security Agreement, the security interest
of Secured Party, in the Collateral, and all other documents or instruments
contemplated hereby shall continue in full force and effect until the
Obligations have been satisfied in full and the Loan Agreement, the Note and the
Guaranty have been terminated in accordance with their terms.

         (H) BINDING EFFECT. This Security Agreement shall be binding upon and
inure to the benefit of Secured Party and its successors and assigns, and in the
event of an assignment of all or any of the obligations secured hereby, the
rights hereunder, to the extent applicable to the indebtedness so assigned, may
be transferred with such indebtedness. This Security Agreement shall be binding
upon and inure to the benefit of Debtor and its successor and assigns; provided,
that Debtor may not assign any of its rights or obligations hereunder without
the prior written consent of Secured Party.

         (I) SECURITY AGREEMENT AS FINANCING STATEMENT. A photographic copy or
other reproduction of this Security Agreement may be used as a financing
statement.

         (J) GOVERNING LAW. This Security Agreement shall be governed by and
construed in accordance with the laws of the State of Georgia without reference
to choice of law doctrine.

         (K) NOTICES. All notices hereunder shall be in writing and shall be
deemed to be duly given upon delivery if hand delivered or sent by telegram or
facsimile transmission, or 3 days

                                       10
<PAGE>

after mailing if sent by express, certified or registered mail, to the parties
at the following addresses (or such other address for a party as shall be
specified by like notice):

If to Secured Party, as follows:     If to Debtor, as follows:

RonHow, LLC                          Harold's Stores, Inc.
3290 Northside Parkway, Suite 250    765 Asp Avenue
Atlanta, GA 30302                    Norman, Oklahoma 73069
Attention: Bob Anderson              Attn:  Jodi Taylor, Chief Financial Officer
Telecopy No.: 678-553-3911           Telecopy No.: 405-366-2538

with a copy to:                      with a copy to:

Sutherland Asbill & Brennan LLP      Crowe & Dunlevy
999 Peachtree St., NE, Suite 2700    2500 South McGee Street, Suite 140
Atlanta, GA 30309-3996               Norman, Oklahoma 73072-6705
Attention: Robert J. Pile            Attention: Gary C. Rawlinson
Telecopy No.: 404-853-8806           Telecopy No.: 405-360-4002

         (L) SEVERABILITY. The determination that any term or provision of this
Security Agreement is unenforceable or invalid shall not affect the
enforceability or validity of any other term or provision hereof.

         (M) ENTIRE AGREEMENT. This Security Agreement, together with all
documents referred to herein, constitutes the entire agreement between Debtor
and Secured Party with respect to the matters addressed herein.

         (N) SUBORDINATION. Debtor's obligations to Secured Party under the Loan
Agreement, the Note, the Guaranty and this Security Agreement are subordinated
to Debtor's obligations to Wells Fargo Retail Finance II, LLC ("AGENT") and
certain other lenders, pursuant to the terms of that certain Subordination and
Intercreditor Agreement, dated as of even date herewith, by and among Secured
Party, Parent, Guarantors and Agent (the "INTERCREDITOR AGREEMENT"). The terms
"Senior Lender" and "Senior Loan Agreement" as used herein have the meanings
assigned to them in the Intercreditor Agreement. So long as the Intercreditor
Agreement remains in effect, Debtor's obligations under this Security Agreement
are subject to the terms of the Intercreditor Agreement, such that Debtor shall
not be obligated to take any action, and Secured Party shall not be entitled to
enforce any right hereunder, in any manner contrary to the requirements of the
Intercreditor Agreement.

                        [Signatures Follow on Next Page.]

                                       11
<PAGE>

         IN WITNESS WHEREOF, each of Debtor and Secured Party have caused this
Security Agreement to be executed and attested under seal and delivered by its
duly authorized officers as of the date shown above.

                         DEBTOR:

                             HAROLD'S STORES, INC., an Oklahoma corporation

                             By: /s/ Leonard M. Snyder
                                 ---------------------------
                             Its: Interim CEO
                                  --------------------------

                             HAROLD'S FINANCIAL CORPORA-TION, an Oklahoma
                             corporation

                             By: /s/ Leonard M. Snyder
                                 ---------------------------
                             Its: Interim CEO
                                  --------------------------

                             HAROLD'S DIRECT, INC., an Oklahoma corporation

                             By: /s/ Leonard M. Snyder
                                 ---------------------------
                             Its: Interim CEO
                                  --------------------------

                             HAROLD'S STORES OF TEXAS, L.P., a Texas limited
                             partnership

                             By: /s/ Leonard M. Snyder
                                 ---------------------------
                             Its: Interim CEO
                                  --------------------------

                             HAROLD'S OF JACKSON, INC, a Mississippi corporation

                             By: /s/ Leonard M. Snyder
                                 ---------------------------
                             Its: Interim CEO
                                  --------------------------

               [Signature Page to Subordinated Security Agreement]

<PAGE>

                             THE CORNER PROPERTIES, INC., an Oklahoma
                             corporation

                             By: /s/ Leonard M. Snyder
                                 ---------------------------
                             Its: /s/ Interim CEO
                                  --------------------------

                             HAROLD'S LIMITED PARTNERS, INC., an Oklahoma
                             corporation

                             By: /s/ Leonard M. Snyder
                                 ---------------------------
                             Its: Interim CEO
                                  --------------------------

                             HAROLD'S DBO, INC., a Texas corporation

                             By: /s/ Leonard M. Snyder
                                 ---------------------------
                             Its: Interim CEO
                                  --------------------------

                             HSTX, INC., a Texas corporation

                             By: /s/ Leonard M. Snyder
                                 ---------------------------
                             Its: Interim CEO
                                  --------------------------

                         SECURED PARTY:

                             RONHOW, LLC, a Georgia limited liability company

                             By: Ronus, Inc., a Georgia corporation,
                             Managing Member

                             By: /s/ Robert L. Anderson
                                 ---------------------------
                                 Robert L. Anderson, President

               [Signature Page to Subordinated Security Agreement]

<PAGE>

                                   SCHEDULE A
                                       TO
                         SUBORDINATED SECURITY AGREEMENT

                             COMMERCIAL TORT CLAIMS

None.

<PAGE>

                                   SCHEDULE B
                                       TO
                         SUBORDINATED SECURITY AGREEMENT

                       LOCATION OF INVENTORY AND EQUIPMENT

See attached.

<PAGE>
<TABLE><CAPTION>
<S>                            <C>                           <C>                           <C>
------------------------------ ----------------------------- ----------------------------- -----------------------------
1 - NORMAN                     7 - JACKSON                   13 - LENOX                    19 - HOUSTON I (Harold
                                                                                           Powell)
------------------------------ ----------------------------- ----------------------------- -----------------------------
------------------------------ ----------------------------- ----------------------------- -----------------------------
Campus Corner                  The Rogue                     Lenox Square                  Highland Village
329 West Boyd                  4450 I-55 North               3393 Peachtree Road NE,       4010 Westheimer
Norman, OK  73069     (1948)   Jackson, MS  39211            #3091                         Houston, TX  77027
(405) 329-4043                 (1980)                        Atlanta, GA  30326            (1992)
Fax: (405) 579-7151            (601) 362-5537                (1988/1997)                   (713) 840-7681
*Becky Isaacs                  Fax: (601) 362-5664           (404) 237-1699                Fax: (713) 840-7684
                               *Margie McGee                 Fax: (404) 237-1520           *Weezie McConn
FLL & FLM                                                    * Leann Mock
                               FLL                                                         FLL & FLM
                                                             FLL & FLM

------------------------------ ----------------------------- ----------------------------- -----------------------------
------------------------------ ----------------------------- ----------------------------- -----------------------------
2 - DOWNTOWN                   8 - FORT WORTH                14 - MONTGOMERY               20 - OMAHA
------------------------------ ----------------------------- ----------------------------- -----------------------------
------------------------------ ----------------------------- ----------------------------- -----------------------------
                               University Park Village       The Shoppes at EastChase      One Pacific Place
CLOSED 3/26/99                 1604 S. University Drive,     6866 EastChase Parkway        10357 Pacific Street
                               #503                          Montgomery AL 36117           Omaha, NE  68114     (6/93)
                               Fort Worth, TX  76107         (334) 396 5701                (402) 391-4620
                               (1986/1997)                   Fax:  (334) 396 5702          Fax: (402) 391-2066
                               (817) 332-4197                *Tammie Moore                 *Jennifer Mankin
                               Fax: (817) 332-7307
                               *Theresa Newton               Opening 3/23
                                                             FLL & PM                      FLL
                               FLL & FLM
------------------------------ ----------------------------- ----------------------------- -----------------------------
------------------------------ ----------------------------- ----------------------------- -----------------------------
3 - 50 PENN                    9 - GALLERIA                  15 - LITTLE ROCK              21 - KANSAS CITY
------------------------------ ----------------------------- ----------------------------- -----------------------------
------------------------------ ----------------------------- ----------------------------- -----------------------------
50 Penn Place                  The Galleria                  Midtowne Shopping Center      Country Club Plaza
NW 1900 Expressway Street      13350 Dallas Parkway, Suite   201 North University          336-40 West 47th Street
Suite 214R                     1650                          Avenue  Ste. 120              Kansas City, MO  64112
Oklahoma City, OK  73118       Dallas, TX  75240     (1985)  Little Rock, AR 72205         (11/93)
(1976)                         (972) 392-7774                                              (816) 753-3393
(405) 842-4441                 Fax: (972) 392-7782           *Jennifer Higgenbothen        Fax: (816) 753-7817
Fax: (405) 848-9489            *William Mayo                                               *Leslie Aldred
*Jennifer Leipart
                                                             FLL
 FLL & FLM                     FLL & FLM                                                   FLL & FLM

------------------------------ ----------------------------- ----------------------------- -----------------------------
------------------------------ ----------------------------- ----------------------------- -----------------------------
4 - THE FARM                   10 - LUBBOCK                  16 - AUSTIN BARN              22 - NASHVILLE
------------------------------ ----------------------------- ----------------------------- -----------------------------
------------------------------ ----------------------------- ----------------------------- -----------------------------
The Farm Shopping Center       Kingsgate Center              8611 N. Mopac Expressway      2126 Abbott Martin Road
5225 South Sheridan            8201 Quaker Ave., Unit 116    Austin, TX  78759     (1991)  Suite 179
Tulsa, OK  74145 (1973)        Lubbock, TX  79424            (512) 794-9036                Nashville, TN  37215
(918) 664-1900                 (1992)                        Fax: (512) 794-9039           (12/93)
Fax: (918) 628-1645            (806) 794-1655                *Angela Tijerina              (615) 298-3959
*April Amos                    Fax: (806) 794-1657                                         Fax (615) 292-6101
                               *Leslie Crafton                                             *Sherry Carney
FLL & FLM                                                    FLL & FLM
                               FLL & FLM                                                   FLL & FLM

------------------------------ ----------------------------- ----------------------------- -----------------------------
------------------------------ ----------------------------- ----------------------------- -----------------------------
5 - UTICA                      11 - OLD SCHOOL               17 - NORTH POINT              23 - CHARLOTTE
                                                             (Previously Perimeter)
------------------------------ ----------------------------- ----------------------------- -----------------------------
------------------------------ ----------------------------- ----------------------------- -----------------------------
Utica Square Shopping Center                                 North Point Village           Specialty Shops on the Park
1860 Utica Square              CLOSED 5/7/01                 7300 North Point Parkway      6401 Morrison Blvd., Suite
Tulsa, OK  74114                                             suite 103                     4-A
(1980/7-99)                                                  Alpharetta, GA 30022          Charlotte, NC  28211
(918) 743-8889                                               (4-27-06)                     (7/94)
Fax: (918) 749-5656                                          (678)242-0086                 (704) 366-8303
*Jen Dolan                                                   Fax:  (678) 242-0087          Fax: (704) 366-8270
                                                             * Stephanie Gillan            *Jennifer Sigala
FLL & FLM                                                    FLL
                                                                                           FLL
------------------------------ ----------------------------- ----------------------------- -----------------------------
------------------------------ ----------------------------- ----------------------------- -----------------------------
6 - HIGHLAND PARK              12 - MEMPHIS III (POPLAR)     18 - SAN ANTONIO              24 - PLANO
------------------------------ ----------------------------- ----------------------------- -----------------------------
Highland Park Village          Poplar Avenue                                               Preston Park Colonnade
88 Highland Park Village       518 Perkins Extended          CLOSED 1/29/99                2101 Preston Road
Dallas, TX  75205     (1977)   Memphis, TN  38117                                          Plano, TX  75093     (10/94)
(214) 521-4770                 (11/18/99)                                                  (972) 612-9773
Fax: (214) 521-4792            (901) 682-9751                                              Fax: (972) 612-9648
*Jennifer Johnston             Fax: (901) 682-9753                                         *Donna Sampson
                               *Jennifer Hawkins
FLL & FLM                                                                                  FLL & FLM
                               FLL & FLM

------------------------------ ----------------------------- ----------------------------- -----------------------------
</TABLE>
<PAGE>
<TABLE><CAPTION>
<S>                          <C>
---------------------------- -----------------------------
25 - AUSTIN ARBORETUM        31 - LEAWOOD

---------------------------- -----------------------------
---------------------------- -----------------------------
Arboretum Market Shopping    Town Center Plaza
Ctr                          5220 West 119th Street,
9722 Great Hills Trail,      #2095
Suite 130                    Leawood, KS  66209
Austin, TX  78759            (5/96)
(9/94)                       (913) 663-1511
(512) 418-1331               Fax: (913) 663-2899
Fax: (512) 418-8755          * Linda Selba
*Hillary Prieto
                             FLL & FLM
FLL & FLM
---------------------------- -----------------------------
---------------------------- -----------------------------
26 - PHOENIX                 32 - GREENVILLE
---------------------------- -----------------------------
---------------------------- -----------------------------
                             1125 Woodruff Road
CLOSED 4/27/03               Suite 1801
                             Greenville, SC  29607
                             (864) 297-4939
                             Fax: (864) 297-6499
                             *Kelly Klaker

                             FLL

---------------------------- -----------------------------
---------------------------- -----------------------------
27 - ST. LOUIS               33 - TYSON'S
---------------------------- -----------------------------
---------------------------- -----------------------------
Plaza Frontenac              Tyson's Galleria
1701 S. Lindbergh Blvd.,     1741-G International Drive
Suite 240                    McLean, VA  22102     (8/96)
St. Louis, MO  63131         (703) 506-9224
(3/31/95)                    Fax: (703) 506-2919
(314) 569-1266               *Emily Jimenez
Fax: (314) 569-2133
*Traci Cox

                             FLL & FLM
FLL
---------------------------- -----------------------------
---------------------------- -----------------------------
28 - LOUISVILLE              34 - RALEIGH
---------------------------- -----------------------------
---------------------------- -----------------------------
Mall St. Matthews            Crabtree Valley Mall
5000 Shelbyville Rd., #98    4325 Glenwood Ave., #1057
& 144                        Raleigh, NC  27612
Louisville, KY  40207        (6/96)
(9/95)                       (919) 782-2655
(502) 899-5464               Fax: (919) 782-5671
Fax: (502) 893-7443          *Cheryl Honeycutt
*Carrie Freeman
                             FLL & FLM
FLL & FLM
---------------------------- -----------------------------
---------------------------- -----------------------------
29 - HILLSBORO               35 - HOUSTON II (Harold
                             Powell )
---------------------------- -----------------------------
---------------------------- -----------------------------
                             Town and Country Village
CLOSED 3/2/03                600 W. Sam Houston Pkwy.,
                             #500
                             Houston, TX  77024
                             (11/96)
                             (713) 461-6993
                             Fax: (713) 467-1914
                             *Kassi Daiker

                             FLL &FLM
---------------------------- -----------------------------
---------------------------- -----------------------------
30 - BATON ROUGE             36 - DENVER
---------------------------- -----------------------------
CitiPlace Market Center      Park Meadows Mall
2531 CitiPlace Court,        8405 Park Meadows Center
Suite 100                    Drive Suite 1123
Baton Rouge, LA  70808       Littleton, CO  80124
(11/95)                      (10/96)
(225) 927-8780               (303) 706-1407
Fax: (225) 927-9970          Fax: (303) 649-9215
*Sylvia Simmers              *Jill McCans
                             FLL & FLM
FLL & FLM
---------------------------- -----------------------------
08-24-06
</TABLE>
<PAGE>
<TABLE><CAPTION>
<S>                            <C>                           <C>                           <C>
------------------------------ ----------------------------- ----------------------------- -----------------------------
37 - NORMAN OUTLET             43 - BIRMINGHAM II            49 - SOUTHLAKE                55 - NEW RIVER, AZ
------------------------------ ----------------------------- ----------------------------- -----------------------------
------------------------------ ----------------------------- ----------------------------- -----------------------------
                               Summit Retail Shopping        Southlake Town Square
575 S. University Blvd.        Center                        190 State Street              CLOSED 3/2/03
Norman, OK  73069     (1/97)   205 Summit Blvd., Suite 300   Southlake, TX  76092
(405) 579-7137                 Birmingham, AL  35243         (3/99)
Fax: (405) 579-7140            (10/97)                       (817) 421-9449
*Cash Robertson                (205) 969-1345                Fax: (817) 421-3640
                               Fax: (205) 967-0089           *Dawn Crawford
FLL & FLM                      *Allyson Agee
                                                             FLL & FLM
                               FLL & FLM
------------------------------ ----------------------------- ----------------------------- -----------------------------
------------------------------ ----------------------------- ----------------------------- -----------------------------
38 - MEMPHIS II                44 - SALT LAKE CITY           50 - TAMPA                    56 - WILLIAMSBURG

------------------------------ ----------------------------- ----------------------------- -----------------------------
------------------------------ ----------------------------- ----------------------------- -----------------------------
                               Trolley Square Center
CLOSED 4/27/03                 386 Trolley Square            CLOSED 5/25/03                CLOSED 5/31/02
                               Salt Lake City, UT
                               84102     (11/98)
                               (801) 321-8286
                               Fax: (801) 321-8276
                               *Rhonda Thompson

                               FLL & FLM
------------------------------ ----------------------------- ----------------------------- -----------------------------
------------------------------ ----------------------------- ----------------------------- -----------------------------
39 - WICHITA                   45 - HAROLD POWELL            51 - HOUSTON III (Harold      57 - DAWSONVILLE
                               OUTLET                        Powell)
------------------------------ ----------------------------- ----------------------------- -----------------------------
------------------------------ ----------------------------- ----------------------------- -----------------------------
Bradley Fair Shopping Center                                 Champions Forest Plaza
2132 N. Rock Road, Suite 101   CLOSED 3/04                   5510 FM 1960 West             CLOSED 6/1/03
Wichita, KS  67206     (5/97)                                Houston, TX  77069
(316) 630-0202                                               (5/99)
Fax: (316) 630-0111                                          (281) 444-0751
*Shanna Gilbert                                              Fax:  (281) 866-0192
                                                             *Chris Boatman

FLL & FLM
                                                             FLL & FLM

------------------------------ ----------------------------- ----------------------------- -----------------------------
------------------------------ ----------------------------- ----------------------------- -----------------------------
40 - SAN ANTONIO II            46 - PALO ALTO                52 - INDIANAPOLIS             58 - SAN MARCOS

------------------------------ ----------------------------- ----------------------------- -----------------------------
------------------------------ ----------------------------- ----------------------------- -----------------------------
Alamo Quarry Market            Stanford Shopping Center      Keystone Fashion Mall
255 East Basse Road, Suite     700 Stanford Shopping Center  8702 Keystone Crossing Blvd.  CLOSED 3/2/03
900                            Suite E700                    Suite 120
San Antonio, TX  78209         Palo Alto, CA  94304          Indianapolis, IN  46240
(3/98)                         (2/99)                        (7/9/99)
(210) 829-7718                 (650) 322-9932                (317) 816-0811
Fax: (210) 832-8725            Fax: (650) 322-3706           Fax: (317) 816-0022
*Connie Gutierrez              * Melody Smith                *Lori Lavengood
                               FLL                           FLL
FLL & FLM
------------------------------ ----------------------------- ----------------------------- -----------------------------
------------------------------ ----------------------------- ----------------------------- -----------------------------
41 - COLUMBUS                  47 - OAK BROOK                53 - ATLANTA III
------------------------------ ----------------------------- ----------------------------- -----------------------------
------------------------------ ----------------------------- ----------------------------- -----------------------------
                               Oak Brook Center              The Avenue East Cobb
CLOSED 4/28/02                 196 Oakbrook Center           4475 Roswell Road, Suite
                               Oak Brook, IL  60523          1510
                               (11/98)                       Marietta, GA  30062
                               (630) 368-5330                (8/12/99)
                               Fax: (630) 368-5335           (770) 509-9344
                               *Sue Matter                   Fax: (770) 509-5424
                                                             *Terri Garner
                               FLL
                                                             FLL & FLM
------------------------------ ----------------------------- ----------------------------- -----------------------------
------------------------------ ----------------------------- ----------------------------- -----------------------------
42 - RICHMOND                  48 - OLD ORCHARD              54 - MALL OF GEORGIA
------------------------------ ----------------------------- ----------------------------- -----------------------------
------------------------------ ----------------------------- ----------------------------- -----------------------------
River Road Shopping Center
6241 River Road, Area A        CLOSED 7/26/03                CLOSED 1/14/01
Richmond, VA  23229
(10/97)
(804) 282-0882
Fax (804) 282-3986
*Colleen Wilhelm

FLL & FLM
------------------------------ ----------------------------- ----------------------------- -----------------------------
</TABLE>
<PAGE>
<TABLE><CAPTION>
<S>                          <C>
---------------------------- -----------------------------
                             Northeast Consolidator
---------------------------- -----------------------------
---------------------------- -----------------------------

                             Dynamic
                             125 Pennsylvania Avenue
                             S. Kearny, NJ  07032
                             (973) 344-6300

---------------------------- -----------------------------
---------------------------- -----------------------------
                             90 - CORPORATE OFFICE
                             DALLAS
---------------------------- -----------------------------
---------------------------- -----------------------------
                             5919 Maple Avenue
                             Dallas, TX  75235
                             (214) 366-0600
                             (800) 949-3533
                             Fax: (214) 366-1061
                             Fax: (800) 745-3544
                             HR Fax:  (214) 902-4118

---------------------------- -----------------------------
---------------------------- -----------------------------
                             99- NORMAN  OFFICE

---------------------------- -----------------------------
---------------------------- -----------------------------
                             765 Asp Avenue
                             Norman, OK  73069
                             P.O. Drawer 2970
                             Norman, OK  73070
                             (405) 329-4045
                             (800) 767-4045
                                             Extra #'s:
                             Voice Mail 800-366-4045
                             Credit/Cust. Service
                             800-767-1135

                             800-676-5373
---------------------------- -----------------------------
---------------------------- -----------------------------
                             Oklahoma City Clearance
                             Event
---------------------------- -----------------------------
---------------------------- -----------------------------
                             Former Service Merchandise
                             5537 N.W. Expressway
                             Warr Acres, OK 73132
                             (405) 728-0319

---------------------------- -----------------------------
---------------------------- -----------------------------
                             75-WAREHOUSE/DISTRIBUTION
---------------------------- -----------------------------
---------------------------- -----------------------------
                             705 East Lindsey
                             Norman, OK  73071
                             Fax: (405) 321-8142 Upstairs
                             Fax: (405) 321-4094
                             Downstairs
                             **Both Fax Numbers Are New
                             Intercom @ Warehouse #407

---------------------------- -----------------------------
---------------------------- -----------------------------
                             950 - NEW YORK OFFICE
---------------------------- -----------------------------
---------------------------- -----------------------------
                             Harold's New York Office
                             149 W. 36th Street - 10th
                             Floor
                             New York, NY  10018
                             (212) 719-9140
                             Fax: (212) 354-5135

---------------------------- -----------------------------
</TABLE>
08-24-06

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00109-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00109-of-00352.parquet"}]]