Document:

Exhibit 4.4B

                             SUPPLEMENTAL INDENTURE
                    TO BE DELIVERED BY PENINSULA GAMING, LLC

         Supplemental  Indenture (this  "Supplemental  Indenture"),  dated as of
June 16, 2004, among Peninsula Gaming, LLC, a Delaware limited liability company
(the "Parent Issuer"),  the direct parent of Diamond Jo, LLC, a Delaware limited
liability  company (the  "Company"),  the Company and The Old  Evangeline  Downs
Capital Corp., a Delaware corporation ("Capital" and, together with the Company,
the "Original Issuers"),  and U.S. Bank National  Association,  as trustee under
the Indenture referred to below (the "Trustee").

                               W I T N E S S E T H

         WHEREAS, the Original Issuers and the Subsidiary Guarantors (as defined
therein) have heretofore executed and delivered to the Trustee an indenture (the
"Indenture"),  dated as of April 16, 2004,  providing for the issuance of 8 3/4%
Senior Secured Notes due 2012 (the "Notes");

         WHEREAS,  on the date hereof,  the Parent Issuer,  the Original Issuers
and the Guarantors are effecting the Reorganization  Transactions (as defined in
the Indenture);

         WHEREAS,  the  Indenture  requires  that as part of the  Reorganization
Transactions  the  Parent  Issuer  execute  and  deliver  to  the  Trustee  this
Supplemental  Indenture pursuant to which the Parent Issuer shall become a party
to the  Indenture  and an  "Issuer"  for  all  purposes  under  the  Notes,  the
Indenture,   the  Security  Documents,   the  Intercreditor  Agreement  and  the
Registration  Rights  Agreement  and liable for all  Obligations  of an "Issuer"
thereunder; and

         WHEREAS,  pursuant  to Section  9.1 of the  Indenture,  the  Trustee is
authorized to execute and deliver this Supplemental Indenture.

         NOW THEREFORE, in consideration of the foregoing and for other good and
valuable consideration, the receipt of which is hereby acknowledged, the parties
hereto  mutually  covenant  and agree for the equal and  ratable  benefit of the
Holders of the Notes as follows:

         1. Capitalized Terms.  Capitalized terms used herein without definition
shall have the meanings assigned to them in the Indenture.

         2. Parent  Issuer as  Additional  "Issuer."  The Parent  Issuer  hereby
becomes  a  party  to  and  bound  by all of the  terms,  conditions  and  other
provisions of the Indenture with all attendant  rights,  duties and  obligations
stated therein, and hereby becomes an "Issuer" for all purposes under the Notes,
the  Indenture,  the Security  Documents,  the  Intercreditor  Agreement and the
Registration  Rights  Agreement  and liable for all  Obligations  of an "Issuer"
thereunder,  with  the  same  force  and  effect  as if the  Parent  Issuer  was
originally  named as an "Issuer" in the  Indenture  and as if the Parent  Issuer
executed the Indenture on the date thereof.

         3. Original Issuers Remain Issuers. For the avoidance of doubt, nothing
herein shall or shall be deemed to modify or otherwise affect the Obligations of
the  Original  Issuers  or  the  Subsidiary  Guarantors  under  the  Notes,  the
Indenture,   the  Security  Documents,   the  Intercreditor   Agreement  or  the
Registration  Rights  Agreement,  and the  Original  Issuers  each shall  remain
liable,  jointly and severally with the Parent Issuer, for all Obligations of an
"Issuer" thereunder.

<PAGE>

         4. NEW YORK LAW TO GOVERN AND CONSENT TO  JURISDICTION.  THIS INDENTURE
AND THE NOTES SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE  WITH,  THE LAWS
OF THE STATE OF NEW YORK APPLICABLE TO CONTRACTS MADE AND TO BE PERFORMED IN THE
STATE OF NEW YORK, INCLUDING, WITHOUT LIMITATION,  SECTIONS 5-1401 AND 5-1402 OF
THE NEW YORK GENERAL  OBLIGATIONS LAW AND NEW YORK CIVIL PRACTICE LAWS AND RULES
327(B);  PROVIDED,  THAT WITH RESPECT TO THE CREATION,  ATTACHMENT,  PERFECTION,
PRIORITY,  ENFORCEMENT OF AND REMEDIES  RELATING TO THE SECURITY INTEREST IN ANY
REAL PROPERTY COLLATERAL, THE GOVERNING LAW MAY BE THE LAWS OF THE JURISDICTIONS
WHERE  SUCH  COLLATERAL  IS  LOCATED  WITHOUT  REGARD  TO  THE  CONFLICT  OF LAW
PROVISIONS THEREOF.

         ALL JUDICIAL  PROCEEDINGS  BROUGHT  AGAINST ANY PARTY ARISING OUT OF OR
RELATING HERETO OR ANY OF THE SECURITY DOCUMENTS, OR ANY OF THE OBLIGATIONS, MAY
BE BROUGHT IN ANY STATE OR FEDERAL COURT OF COMPETENT JURISDICTION IN THE STATE,
COUNTY AND CITY OF NEW YORK. BY EXECUTING AND DELIVERING  THIS  INDENTURE,  EACH
PARTY, FOR ITSELF AND IN CONNECTION WITH ITS PROPERTIES,  IRREVOCABLY SUBMITS TO
AND ACCEPTS  GENERALLY AND  UNCONDITIONALLY  THE  NONEXCLUSIVE  JURISDICTION AND
VENUE OF SUCH COURTS;  WAIVES ANY DEFENSE OF FORUM NON  CONVENIENS;  AGREES THAT
SERVICE OF ALL PROCESS IN ANY SUCH  PROCEEDING  IN ANY SUCH COURT MAY BE MADE BY
REGISTERED OR CERTIFIED MAIL, RETURN RECEIPT REQUESTED, TO THE APPLICABLE ISSUER
OR  GUARANTOR  AT ITS ADDRESS  PROVIDED IN  ACCORDANCE  WITH SECTION 12.2 OF THE
INDENTURE;  AGREES  THAT  SERVICE  AS  PROVIDED  ABOVE IS  SUFFICIENT  TO CONFER
PERSONAL  JURISDICTION  OVER THE APPLICABLE  PARTY IN ANY SUCH PROCEEDING IN ANY
SUCH COURT,  AND OTHERWISE  CONSTITUTES  EFFECTIVE AND BINDING  SERVICE IN EVERY
RESPECT;  AND AGREES EACH OTHER PARTY  RETAINS THE RIGHT TO SERVE PROCESS IN ANY
OTHER MANNER PERMITTED BY LAW OR TO BRING  PROCEEDINGS  AGAINST ANY PARTY IN THE
COURTS OF ANY OTHER JURISDICTION HAVING JURISDICTION OVER SUCH PARTY.

         5.  Counterparts.  The  parties  may sign any  number of copies of this
Supplemental  Indenture.  Each signed copy shall be an original, but all of them
together represent the same agreement.

         6. Effect of Headings.  The Section headings herein are for convenience
only and shall not affect the construction hereof.

                            [signature page follows]

<PAGE>

            IN WITNESS WHEREOF, the parties hereto have caused this Supplemental
Indenture  to be duly  executed  and  attested,  all as of the date first  above
written.

                                         THE ORIGINAL ISSUERS:
                                         Diamond Jo, LLC

                                         By:/s/M. BRENT STEVENS
                                            ---------------------------------
                                            Name:  M. Brent Stevens
                                            Title: Chief Executive Officer

                                         The Old Evangeline Downs Capital Corp.

                                         By:/s/M. BRENT STEVENS
                                            ---------------------------------
                                            Name:  M. Brent Stevens
                                            Title: Chief Executive Officer

                                         THE PARENT ISSUER:
                                         Peninsula Gaming, LLC

                                         By:/s/M. BRENT STEVENS
                                            ---------------------------------
                                            Name:  M. Brent Stevens
                                            Title: Chief Executive Officer

                                         THE TRUSTEE:
                                         U.S. Bank National Association

                                         By:/s/Frank P. Leslie, III
                                            --------------------------------
                                            Name:  Frank P. Leslie, III
                                            Title: Vice PresidentExhibit 4.5A

                                 DIAMOND JO, LLC
                    THE OLD EVANGELINE DOWNS CAPITAL CORP.

               $233,000,000 8 3/4% SENIOR SECURED NOTES DUE 2012

                          REGISTRATION RIGHTS AGREEMENT

                                                                  April 16, 2004

JEFFERIES & COMPANY, INC.
11100 Santa Monica Boulevard
10th Floor
Los Angeles, California  90025

Ladies and Gentlemen:

            Diamond  Jo,  LLC,  a  Delaware  limited   liability   company  (the
"COMPANY"),  The Old  Evangeline  Downs Capital  Corp.,  a Delaware  corporation
("CAPITAL" and,  together with the Company,  the "ISSUERS"),  and the Guarantors
listed on the signature pages hereto under the heading "Guarantors," are issuing
and selling to Jefferies & Company,  Inc.  (the "INITIAL  PURCHASER"),  upon the
terms  set  forth in a  purchase  agreement,  dated as of March  25,  2004  (the
"PURCHASE AGREEMENT"),  by and among the Initial Purchaser,  the Issuers and the
Guarantors listed on the signature pages hereto under the heading  "Guarantors,"
$233,000,000  aggregate  principal  amount at  maturity  of the  Issuers' 8 3/4%
Senior  Secured Notes due 2012,  Series A,  including the Guarantees (as defined
below) endorsed thereon (the "NOTES").

            The Issuers and the Guarantors are seeking requisite  approvals from
applicable   Iowa  and   Louisiana   regulatory   authorities   to  effect   the
Reorganization  Transactions (as defined in the Indenture).  If the approvals of
the  regulatory  authorities  are obtained for the  Reorganization  Transactions
after  the  issuance  of  the  Notes,  then  as a  part  of  the  Reorganization
Transactions,  the Indenture  requires that  Peninsula  Gaming,  LLC, a Delaware
limited liability  company (the "PARENT ISSUER"),  execute and deliver a joinder
to this Agreement  substantially  in the form of Exhibit A attached  hereto (the
"JOINDER") and become a party to this Agreement. Effective upon execution of the
Joinder,  all  references in this  Agreement to the "Issuers"  shall include the
Parent Issuer.

<PAGE>

            As an inducement to the Initial Purchaser to enter into the Purchase
Agreement,  each of the Issuers and the Guarantors  jointly and severally agrees
with the Initial Purchaser, for the benefit of the holders of the Securities (as
defined  below)  (including,  without  limitation,  the Initial  Purchaser),  as
follows:

1.    DEFINITIONS.

            Capitalized  terms used herein without  definition  shall have their
respective  meanings  set  forth  in the  Purchase  Agreement.  As  used in this
Agreement, the following terms shall have the following meanings:

            ADVICE:  See the last paragraph of Section 6.

            AGREEMENT:  This Registration Rights Agreement.

            APPLICABLE PERIOD:  See Section 2(f).

            BUSINESS DAY: Any day,  other than a Saturday,  a Sunday or a day on
which banking  institutions in the City of New York or at a place of payment are
authorized or obligated by law, regulation or executive order to be closed.

            CLOSING DATE:  April 16, 2004.

            CONTROLLING PERSON:  See Section 8(a).

            DTC:  See Section 6(i).

            EFFECTIVENESS  DATE:  The  180th day  following  the  Closing  Date;
provided,  however, that if the Effectiveness Date would otherwise fall on a day
that is not a  Business  Day,  then  the  Effectiveness  Date  shall be the next
succeeding Business Day.

            EFFECTIVENESS PERIOD:  See Section 3(a).

            EVENT:  See Section 4(a).

            EVENT DATE:  See Section 4(a).

            EXCHANGE ACT:  The Securities Exchange Act of 1934, as amended,
and the rules and regulations of the SEC promulgated thereunder.

            EXCHANGE OFFER:  See Section 2(a).

            EXCHANGE OFFER REGISTRATION STATEMENT:  See Section 2(a).

                                       2
<PAGE>

            EXCHANGE  SECURITIES:  The 8 3/4%  Senior  Secured  Notes  due 2012,
Series B, of the Issuers,  including the  guarantees  endorsed or to be endorsed
thereon,  substantially  identical to the Notes and the  Guarantees,  except (i)
that  such  securities  shall  have been  registered  pursuant  to an  effective
registration statement under the Securities Act, (ii) that such securities shall
not contain a restrictive  legend thereon,  (iii) that such securities shall not
contain provisions  relating to the accrual or payment of Liquidated Damages and
(iv) as described in the first sentence of Section 2(e).

            FILING DATE:  The 90th day  following  the Closing  Date;  provided,
however,  that if the Filing  Date would  otherwise  fall on a day that is not a
Business Day, then the Filing Date shall be the next succeeding Business Day.

            GUARANTEES:  The  full  and  unconditional  guarantee,  on a  senior
secured basis by the Guarantors, as to payment of principal,  interest, premium,
if any, and the Weekly  Liquidated  Damages Amount,  if any, with respect to the
Notes.

            GUARANTOR:  Each  subsidiary  of  either  of the  Issuers  that  has
executed or in the future executes a Guarantee in accordance with the Indenture.

            HOLDER:  Each holder of Registrable Securities.

            HOLDER INDEMNIFIED PARTIES:  See Section 8(a).

            INDEMNIFIED PARTY:  See Section 8(c).

            INDEMNIFYING PARTIES:  See Section 8(c).

            INDENTURE: The Indenture,  dated as of the date hereof, by and among
the Issuers,  the  Guarantors  and U.S. Bank National  Association,  as trustee,
pursuant to which the Notes are being issued,  as amended or  supplemented  from
time to time, in accordance with the terms thereof.

            INITIAL SHELF REGISTRATION:  See Section 3(a).

            LOSSES:  See Section 8(a).

            MAXIMUM CONTRIBUTION AMOUNT:  See Section 8(d).

            NASD:  The National Association of Securities Dealers, Inc.

            PARTICIPATING BROKER-DEALER:  See Section 2(f).

            PERSON:  An  individual,  trustee,  corporation,  limited  liability

                                       3
<PAGE>

company, partnership,  limited liability partnership, joint stock company, joint
venture, trust,  unincorporated  organization or association,  government or any
agency or political subdivision thereof,  union,  business association,  firm or
other entity.

            PRIVATE EXCHANGE:  See Section 2(g).

            PRIVATE EXCHANGE SECURITIES:  See Section 2(g).

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

            REGISTRABLE  SECURITIES:  The Notes (together with the  Guarantees);
provided,  however,  that  any such  security  shall  cease to be a  Registrable
Security when (i) it has been exchanged for an Exchange Security in the Exchange
Offer as contemplated in Section 2(a) (provided, that any Exchange Security that
is included in a Prospectus for use in connection with resales by  Participating
Broker-Dealers  shall be deemed to be a  Registrable  Security  with  respect to
Sections 8 and 11 until resale of such  Registrable  Security has been  effected
pursuant to a "Plan of Distribution"  within the Applicable Period; (ii) a Shelf
Registration  registering  such  security  under  the  Securities  Act has  been
declared  or becomes  effective  and such  security  has been sold or  otherwise
transferred by the holder thereof  pursuant to and in a manner  contemplated  by
such effective Shelf Registration;) (iii) such security is sold pursuant to Rule
144 under the  Securities Act under  circumstances  in which any legend borne by
such security  relating to restrictions on  transferability  thereof,  under the
Securities  Act or  otherwise,  is removed by the  Issuers  or  pursuant  to the
Indenture;  (iv) such  security is eligible to be sold pursuant to paragraph (k)
of Rule 144 under the  Securities  Act; or (v) such  security  shall cease to be
outstanding.

            REGISTRATION  STATEMENT:  Any registration  statement of the Issuers
that covers any of the  Securities  and that is filed pursuant to the provisions
of this Agreement, including the Prospectus included therein, all amendments and
supplements   to  such   registration   statement  and   Prospectus   (including
post-effective  amendments),  all exhibits thereto and all material incorporated
by reference or deemed to be incorporated by reference therein.

            RULE 144:  Rule 144 under the  Securities  Act,  as such rule may be

                                       4
<PAGE>

amended  from time to time,  or any  similar  rule  (other  than  Rule  144A) or
regulation hereafter adopted by the SEC.

            RULE 144A:  Rule 144A under the Securities  Act, as such rule may be
amended  from  time to time,  or any  similar  rule  (other  than  Rule  144) or
regulation hereafter adopted by the SEC.

            RULE 415:  Rule 415 under the  Securities  Act,  as such rule may be
amended from time to time, or any similar rule or regulation  hereafter  adopted
by the SEC.
            SEC:  The Securities and Exchange Commission.

            SECURITIES:  The Notes, the Private Exchange Securities and the
Exchange Securities, collectively.

            SECURITIES ACT:  The Securities Act of 1933, as amended, and the
rules and regulations of the SEC promulgated thereunder.

            SHELF EFFECTIVENESS DATE:  With respect to a Shelf Registration,
the 60th day after the filing of such Shelf Registration.

            SHELF FILING DATE:  With respect to a Shelf  Registration,  the 30th
day following (i) in the case of an Initial Shelf Registration,  delivery of the
Shelf Notice triggering the obligation to file such Initial Shelf  Registration,
and  (ii) in the case of a  Subsequent  Shelf  Registration,  the  cessation  of
effectiveness of the prior Shelf Registration;  provided,  however,  that if the
Shelf Filing Date would otherwise fall on a day that is not a Business Day, then
the Shelf Filing Date shall be the next succeeding Business Day.

            SHELF NOTICE:  See Section 2(i).

            SHELF REGISTRATION:  The Initial Shelf Registration and any
Subsequent Shelf Registration.

            SPECIAL COUNSEL:  Counsel chosen by the holders of a majority in
aggregate principal amount of Securities.

            SUBSEQUENT SHELF REGISTRATION:  See Section 3(b).

            TIA:  The Trust Indenture Act of 1939, as amended.

            TRUSTEE:  The trustee under the Indenture and, if any, the
trustee under any indenture governing the Exchange Securities or the Private
Exchange Securities.

                                       5
<PAGE>

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

            WEEKLY  LIQUIDATED  DAMAGES  AMOUNT:  With respect to any Event,  an
amount per week per $1,000 principal  amount of Registrable  Securities equal to
$0.05 for the first 90-day period  immediately  following the  applicable  Event
Date,  increasing by an additional $0.05 per week per $1,000 principal amount of
Registrable  Securities with respect to each subsequent  90-day period,  up to a
maximum  amount of $0.20 per week per  $1,000  principal  amount of  Registrable
Securities.

2.    EXCHANGE OFFER.

      (a) The Issuers and the Guarantors shall:

            (i) prepare and file with the SEC  promptly  after the date  hereof,
but in no event  later than the  Filing  Date,  a  registration  statement  (the
"EXCHANGE  OFFER  REGISTRATION  STATEMENT")  on an  appropriate  form  under the
Securities Act with respect to a proposed  offer (the  "EXCHANGE  OFFER") to the
Holders  to  exchange  any and all of the Notes for a like  principal  amount of
Exchange Securities;

            (ii) use  their  respective  reasonable  best  efforts  to cause the
Exchange Offer  Registration  Statement to become effective under the Securities
Act as promptly as practicable  after the filing thereof,  but in no event later
than the Effectiveness Date;

            (iii) keep the Exchange Offer Registration Statement effective until
the consummation of the Exchange Offer pursuant to its terms; and

            (iv) unless the Exchange Offer would not be permitted by a policy of
the SEC, use their  respective  reasonable best efforts to commence the Exchange
Offer  and to,  on or prior to 45 days  after the  Exchange  Offer  Registration
Statement  is  declared  effective,  consummate  the  Exchange  Offer  and issue
Exchange Securities in exchange for all Notes validly tendered and not withdrawn
prior thereto in the Exchange Offer.

      The Exchange Offer shall not be subject to any conditions,  other than (i)
that the  Exchange  Offer  does not  violate  Applicable  Law or any  applicable
interpretation  of the staff of the SEC, and (ii) no action or proceeding  shall
have been  instituted  in any court or by any  governmental  agency  which might
materially  impair the ability of the Issuers or the  Guarantors to proceed with
the  Exchange  Offer or, if required to

                                       6
<PAGE>

be made pursuant to Section 2(g), the Private Exchange.

      (b) The Exchange  Securities  shall be issued  under,  and entitled to the
benefits of, the Indenture or a trust indenture that is substantially  identical
to the  Indenture  (other than such changes as are  necessary to comply with any
requirements  of the SEC to effect or maintain the  qualification  thereof under
the TIA).

      (c) In connection with the Exchange Offer,  the Issuers and the Guarantors
shall:

            (i) mail, or cause to be mailed,  to each Holder of record  entitled
to participate  in the Exchange  Offer a copy of the Prospectus  forming part of
the Exchange Offer Registration  Statement,  together with an appropriate letter
of transmittal that is an exhibit to the Exchange Offer Registration  Statement,
and any related documents;

            (ii)  use  their  respective  reasonable  best  efforts  to keep the
Exchange  Offer open for not less than 20  Business  Days after the date  notice
thereof is mailed to the Holders (or longer if required by Applicable Law);

            (iii)  utilize the services of a depositary  for the Exchange  Offer
with an address in the Borough of Manhattan, The City of New York;

            (iv) permit Holders to withdraw  tendered Notes at any time prior to
the close of business, New York City time, on the last Business Day on which the
Exchange Offer shall remain open; and

            (v)  otherwise  comply  in  all  material  respects  with  all  laws
applicable to the Exchange Offer.

      (d) As soon as  practicable  after the close of the  Exchange  Offer,  the
Issuers and the Guarantors shall:

            (i) subject to Section  2(i)  hereof,  accept for exchange all Notes
validly  tendered and not validly  withdrawn  pursuant to the Exchange Offer and
the Private Exchange, if any;

            (ii) deliver to the Trustee for  cancellation  all Notes so accepted
for exchange; and

            (iii) cause the Trustee promptly to authenticate and deliver to each
Holder of Notes,  Exchange Securities equal in aggregate principal amount to the
Notes of such Holder so accepted for  exchange;  provided,  that, in the case of
any Notes held in global form by a  depositary,  authentication  and delivery to
such

                                       7
<PAGE>

depositary of one or more replacement  Exchange  Securities in global form in an
equivalent  principal  amount  thereto  for  the  account  of  such  Holders  in
accordance  with the Indenture  shall satisfy such  authentication  and delivery
requirement.

      (e) Interest on each Exchange  Security and each Private Exchange Security
will accrue from the last  interest  payment date on which  interest was paid on
the Notes  surrendered in exchange  therefor or, if no interest has been paid on
the Notes,  from the date of original issue of the Notes. Each Exchange Security
and each Private  Exchange  Security  shall bear  interest at the rate set forth
thereon;  provided,  that  interest  with  respect  to the  period  prior to the
issuance  thereof  shall  accrue  at the  rate  or  rates  borne  by  the  Notes
surrendered in exchange therefor from time to time during such period.

      (f) The Issuers and the Guarantors  shall include a "Plan of Distribution"
section in the Prospectus contained in the Exchange Offer Registration Statement
and indicate therein that (i) any broker or dealer registered under the Exchange
Act that  holds  Notes  that were  acquired  for its own  account as a result of
market-making  activities or other trading activities (other than Notes acquired
directly  from the Issuers or any  Affiliate of the  Issuers) (a  "PARTICIPATING
BROKER-DEALER") may exchange such Notes pursuant to the Exchange Offer, however,
such Participating 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 its initial sale of
any Exchange  Securities  received by such  Participating  Broker-Dealer  in the
Exchange  Offer  and  (ii)  the  Prospectus  contained  in  the  Exchange  Offer
Registration   Statement  may  be  used  to  satisfy  such  prospectus  delivery
requirement.  Such "Plan of  Distribution"  section shall also contain all other
information with respect to such sales by such Participating Broker-Dealers that
the SEC may require in order to permit  such sales  pursuant  thereto,  but such
"Plan of Distribution"  shall not name any such  Participating  Broker-Dealer or
disclose  the  amount  of Notes  held by any such  Participating  Broker-Dealer,
except to the extent required by the SEC. See the Shearman & Sterling  no-action
letter (available July 2, 1993). Such "Plan of Distribution"  section shall also
allow,  to the extent and in the manner  permitted  by  applicable  policies and
regulations of the SEC, the use of the  Prospectus by all other Persons  subject
to the prospectus  delivery  requirements of the Securities Act. The Issuers and
the Guarantors  shall use their  respective  reasonable best efforts to keep the
Exchange Offer Registration  Statement  continuously  effective and to amend and
supplement  the  Prospectus  in order to permit such  Prospectus  to be lawfully
delivered by all Participating  Broker-Dealers  and other Persons subject to the
prospectus delivery requirement of the Securities Act for such period of time as
such Participating Broker-Dealers and Persons must comply with such requirements
in order to resell the Exchange Securities (the "APPLICABLE PERIOD").

                                       8
<PAGE>

      (g) If, prior to consummation of the Exchange Offer, the Initial Purchaser
holds any Notes  acquired by it and having the status as an unsold  allotment in
the initial  distribution  of the Notes,  the Issuers and the Guarantors  shall,
upon the request of the Initial Purchaser,  simultaneously  with the delivery of
the Exchange  Securities  in the  Exchange  Offer,  issue  (pursuant to the same
indenture  as the  Exchange  Securities  and  subject to  transfer  restrictions
thereon) and deliver to the Initial  Purchaser,  in exchange for such Notes held
by the Initial  Purchaser (the "PRIVATE  EXCHANGE"),  a like principal amount of
debt  securities  of the Issuers,  including  guarantees  endorsed  thereon (the
"PRIVATE EXCHANGE SECURITIES"), that are substantially identical to the Exchange
Securities  except for the  placement  of a  restrictive  legend on such Private
Exchange Securities. The Private Exchange Securities shall be issued pursuant to
the same  Indenture  as the  Exchange  Securities  and shall bear the same CUSIP
number as the Exchange Securities.

      (h)  Each  Person  (including,   without  limitation,  each  Participating
Broker-Dealer) participating in the Exchange Offer will be required to represent
to the Issuers and the  Guarantors  in writing  (which may be  contained  in the
applicable  letter of  transmittal)  prior to consummation of the Exchange Offer
that: (i) any Exchange  Securities acquired by such Person in the Exchange Offer
will be  acquired  in its  ordinary  course  of  business;  (ii) at the  time of
commencement and at the time of consummation of the Exchange Offer,  such Person
had and will have no  arrangement  or  understanding  with any  other  Person to
participate in the  distribution  (within the meaning of the Securities  Act) of
the Exchange Securities to be received in the Exchange Offer in violation of the
Securities Act; (iii) if such Person is not a Participating Broker-Dealer, it is
not  engaged  in and does not  intend  to engage  in,  the  distribution  of the
Exchange Securities; (iv) if such Person is a Participating  Broker-Dealer,  (A)
it  acquired  the  Notes  for its  own  account  as a  result  of  market-making
activities or other trading  activities,  (B) it may be deemed to be a statutory
underwriter  under the  Securities  Act and (C) will comply with the  applicable
provisions of the Securities Act (including,  without limitation, the prospectus
delivery  requirements  thereunder)  in  connection  with any resale of Exchange
Securities to be received in the Exchange Offer in exchange for such Notes;  and
(v) such Person is not an "affiliate"  (as defined in Rule 405 of the Securities
Act) of either of the  Issuers or, if it is an  "affiliate"  (as defined in Rule
405 of the  Securities  Act) of either of the Issuers,  that it will comply with
the  registration  and prospectus  delivery  requirements  of the Securities Act
applicable  to it.  See  the  Exxon  Holdings  Capital  Corp.  no-action  letter
(available May 13, 1988), the Morgan Stanley & Co. Incorporated no-action letter
(available June 5, 1991) and the Shearman & Sterling no-action letter (available
July 2, 1993).

      (i) If: (i) prior to the consummation of the Exchange Offer, either of the
Issuers  or  the  Holders  of  a  majority  in  aggregate  principal  amount  of
Registrable  Securities  determines in its or their reasonable judgment that (A)
the Exchange

                                       9
<PAGE>

Securities would not, upon receipt,  be tradeable by the Holders thereof without
restriction  under the Securities Act and the Exchange Act and without  material
restrictions  under  applicable  Blue Sky or state  securities  laws, or (B) the
interests  of the  Holders  under  this  Agreement,  taken as a whole,  would be
materially  adversely  affected by the consummation of the Exchange Offer;  (ii)
applicable  interpretations  of the  staff  of the  SEC  would  not  permit  the
consummation  of the  Exchange  Offer  prior to the  Effectiveness  Date;  (iii)
subsequent to the  consummation of the Private  Exchange,  any Holder of Private
Exchange  Securities  so requests;  (iv) the Exchange  Offer is not  consummated
within 225 days of the Closing  Date for any  reason;  or (v) in the case of (A)
any Holder not permitted to  participate  in the Exchange  Offer  (including any
broker-dealer  that holds  Notes  acquired  directly  from the Issuers or any of
their respective affiliates that is not permitted to participate in the Exchange
Offer),  or (B) any Holder  participating  in the Exchange  Offer that  receives
Exchange  Securities  that may not be sold without  restriction  under state and
federal  securities  laws (other than due solely to the status of such Holder as
an affiliate of either of the Issuers within the meaning of the Securities  Act)
and, in each such case contemplated by this clause (v), such Holder notifies the
Issuers  within six  months of  consummation  of the  Exchange  Offer,  then the
Issuers shall  promptly  deliver to the Holders (or in the case of an occurrence
of any event  described in clause (v) of this Section  2(i), to any such Holder)
and the Trustee  notice  thereof  (the "SHELF  NOTICE") and shall as promptly as
practicable  thereafter  (but in no event later than the Shelf Filing Date) file
an Initial Shelf Registration pursuant to Section 3.

3.    SHELF REGISTRATION.

      If a Shelf  Notice is  required  to be  delivered  pursuant to clause (i),
(ii),  (iii) or (iv) of Section  2(i),  then this  Section 3 shall  apply to all
Registrable  Securities.  Otherwise,  upon consummation of the Exchange Offer in
accordance  with Section 2, the  provisions of this Section 3 shall apply solely
with  respect  to (i)  Notes  held  by  any  Holder  thereof  not  permitted  to
participate in the Exchange  Offer,  (ii) Notes held by any  broker-dealer  that
acquired  such  Notes  directly  from the  Issuers  or any of  their  respective
affiliates, and (iii) Exchange Securities that are not freely tradeable, in each
case, as contemplated by clause (v) of Section 2(i),  provided that the relevant
Holder has duly notified the Issuers  within six months of  consummation  of the
Exchange Offer as required by clause (v) of Section 2(i).

      (a) Initial  Shelf  Registration.  The Issuers  and the  Guarantors  shall
prepare  and file with the SEC a  Registration  Statement  for an offering to be
made on a continuous  basis pursuant to Rule 415 covering all of the Registrable
Securities (the "INITIAL SHELF REGISTRATION"). If the Issuers and the Guarantors
have not filed an Exchange  Offer  Registration  Statement,  the Issuers and the
Guarantors shall file with the SEC the Initial Shelf Registration on or prior to
the Filing Date.  Otherwise,  the Issuers and the Guarantors shall file with the
SEC the Initial  Shelf  Registration  as

                                       10
<PAGE>

promptly as  practicable  following the delivery of the Shelf Notice,  but in no
event later than the Shelf Filing Date. The Initial Shelf  Registration shall be
on  Form  S-1 or  another  appropriate  form  permitting  registration  of  such
Registrable  Securities  for  resale by such  Holders  in the  manner or manners
designated by them  (including,  without  limitation,  one or more  underwritten
offerings).  The Issuers and the  Guarantors (i) shall not permit any securities
other than the Registrable  Securities to be included in any Shelf Registration,
and (ii) shall use their respective reasonable best efforts to cause the Initial
Shelf  Registration  to be declared  effective under the Securities Act no later
than the Shelf  Effectiveness  Date and to keep the Initial  Shelf  Registration
continuously effective under the Securities Act until the date that is 24 months
after the date it is declared  effective  (subject to extension  pursuant to the
last  paragraph  of Section 6) (the  "EFFECTIVENESS  PERIOD"),  or such  shorter
period ending when (i) all Registrable  Securities  covered by the Initial Shelf
Registration  have been sold in the manner set forth and as  contemplated in the
Initial Shelf Registration, or (ii) a Subsequent Shelf Registration covering all
of the Registrable  Securities has been declared  effective under the Securities
Act or (iii) there cease to be any outstanding Registrable Securities; provided,
however,  that the Effectiveness  Period shall be reduced to the extent that the
applicable  provisions  of Rule 144(k) under the  Securities  Act are amended or
revised to reduce the two year holding period set forth therein.

      (b) Subsequent Shelf Registrations. If any Shelf Registration ceases to be
effective for any reason at any time during the Effectiveness Period (other than
because of the sale of all of the Registrable Securities registered thereunder),
the  Issuers  and the  Guarantors  shall use their  respective  reasonable  best
efforts  to  obtain  the  prompt   withdrawal  of  any  order   suspending   the
effectiveness  thereof,  and in any event shall within 30 days of such cessation
of  effectiveness  file an  amendment  to the  Shelf  Registration  in a  manner
reasonably  expected  to  obtain  the  withdrawal  of the order  suspending  the
effectiveness  thereof,  or file an additional  "shelf"  Registration  Statement
pursuant to Rule 415 covering all of the  Registrable  Securities (a "SUBSEQUENT
SHELF  REGISTRATION").  If a Subsequent Shelf Registration is filed, the Issuers
and the Guarantors shall use their  respective  reasonable best efforts to cause
the  Subsequent  Shelf  Registration  to be  declared  effective  as promptly as
practicable  after such filing and to keep such  Subsequent  Shelf  Registration
continuously  effective  for a  period  equal  to  the  number  of  days  in the
Effectiveness  Period less the aggregate number of days during which the Initial
Shelf Registration,  and any previously filed Subsequent Shelf Registration, was
previously effective.

4. LIQUIDATED DAMAGES.

      (a) The Issuers and the Guarantors  acknowledge and agree that the Holders
will suffer  damages,  and that it would not be feasible to ascertain the extent
of such  damages  with  precision,  if the  Issuers and the  Guarantors  fail to
fulfill their

                                       11
<PAGE>

respective obligations under Sections 2 and 3. Accordingly, in the event of such
failure,  the Issuers and the  Guarantors  jointly  and  severally  agree to pay
liquidated  damages to each Holder under the circumstances and to the extent set
forth below:

            (i) if the Exchange Offer Registration  Statement has not been filed
with the SEC on or prior to the Filing Date;

            (ii) if the Exchange  Offer  Registration  Statement is not declared
effective by the SEC on or prior to the Effectiveness Date; or

            (iii) if  obligated  to make the  Exchange  Offer  pursuant  to this
Agreement,  if the  Issuers  and the  Guarantors  have  not  exchanged  Exchange
Securities  for all Notes validly  tendered in accordance  with the terms of the
Exchange  Offer  within  45 days  after  the date on which  the  Exchange  Offer
Registration Statement is declared effective by the SEC;

            (iv) if  obligated  to file an Initial  Shelf  Registration  and the
Issuers and the Guarantors fail to file such Initial Shelf Registration with the
SEC on or prior to Shelf Filing Date;

            (v) if an Initial Shelf Registration is filed and such Initial Shelf
Registration  is not declared  effective on or prior to the Shelf  Effectiveness
Date; or

            (vi) if a Shelf  Registration is filed and declared effective by the
SEC but  thereafter  shall  either be  withdrawn  by the Issuers or shall become
subject  to an  effective  stop order  issued  pursuant  to Section  8(d) of the
Securities Act  suspending  the  effectiveness  of such  Registration  Statement
without being succeeded within 30 days by a Subsequent Shelf  Registration filed
and declared effective;

(each of the  foregoing an "EVENT," and the date on which the Event occurs being
referred to herein as an "EVENT DATE").

      Upon the  occurrence  of any Event,  the Issuers shall pay, or cause to be
paid (and the  Guarantors  hereby  guarantee  the  payment  of),  in addition to
amounts  otherwise due under the Indenture and the  Registrable  Securities,  as
liquidated damages,  and not as a penalty, to each Holder for each weekly period
beginning  on the Event Date an amount  equal to the Weekly  Liquidated  Damages
Amount  per  $1,000  principal  amount of  Registrable  Securities  held by such
Holder,  it being  understood  that the Issuers shall in no event be required to
pay the Weekly  Liquidated  Damages  Amount for more than one Event at any given
time; provided, that such liquidated damages will, in each case, cease to accrue
(subject  to the  occurrence  of another  Event) on the date on which all Events
have been cured. An Event under clause (i) above shall be cured on the date that
the Exchange Offer Registration  Statement (or, if an Initial Shelf Registration
is required to be filed  pursuant to clause (i),  (ii) or (iii) of Section 2(i),
the date that such Initial Shelf  Registration)  is filed with the SEC; an Event
under  clause  (ii)  above  shall be cured on the date that the  Exchange  Offer
Registration  Statement (or, if an Initial Shelf  Registration is required to be
filed

                                       12
<PAGE>

pursuant  to  clause  (i),  (ii) or (iii) of  Section  2(i),  the date that such
Initial  Shelf  Registration)  is declared  effective by the SEC; an Event under
clause  (iii) above  shall be cured on the earlier of the date (A) the  Exchange
Offer  is  consummated  with  respect  to all  Notes  validly  tendered  and not
withdrawn  or (B) the  Issuers  deliver a Shelf  Notice to the  Holders  and the
Trustee  pursuant to clause (i),  (ii) or (iii) of Section  2(i); an Event under
clause  (iv)  above  shall  be  cured  on  the  date  that  such  Initial  Shelf
Registration  is filed with the SEC;  an Event  under  clause (v) above shall be
cured on the date that such Initial Shelf  Registration is declared effective by
the SEC;  and an Event under  clause (vi) above shall be cured on the earlier of
(1) the date on which the applicable Shelf  Registration is no longer subject to
an order suspending the effectiveness thereof or proceedings relating thereto or
(2) a new Subsequent Shelf Registration is declared effective.

      (b) The Issuers  shall notify the Trustee  within five Business Days after
each  Event  Date.  The  Issuers  shall pay the  liquidated  damages  due on the
Registrable Securities by depositing with the Trustee, in trust, for the benefit
of the  Holders  thereof,  by 12:00 noon,  New York City time,  on or before the
applicable  semi-annual  interest  payment date for the Registrable  Securities,
immediately  available  funds in sums  sufficient to pay the liquidated  damages
then due. The liquidated  damages amount due shall be payable in the same manner
as interest  payments on the Notes on each  interest  payment date to the record
Holder  entitled to receive the interest  payment to be made on such date as set
forth in the Indenture.

5.    GAMING CONSENTS.

      Prior to  consummating  the  Exchange  Offer or filing the  Initial  Shelf
Registration,  as the case may be, the Issuers and the Guarantors  shall make or
obtain  all  Permits  necessary  in the  Issuers'  reasonable  judgment  for the
consummation of the transactions contemplated hereby.

6.   REGISTRATION PROCEDURES.

      In connection with the registration of any Securities  pursuant to Section
2 or 3, the Issuers and the Guarantors shall effect such registrations to permit
the sale of such Securities in accordance with the intended method or methods of
disposition thereof, and pursuant thereto the Issuers and the Guarantors shall:

      (a) Prepare and file with the SEC, as soon as  practicable  after the date
hereof  but in any event on or prior to the  Filing  Date,  with  respect  to an
Exchange

                                       13
<PAGE>

Offer  Registration  Statement,  and on or prior to the Shelf Filing Date,  with
respect  to  a  Shelf   Registration,   as  prescribed  by  Sections  2  and  3,
respectively,  and use their  respective  reasonable  best efforts to cause each
such  Registration   Statement  to  become  effective  and  remain  continuously
effective as provided in this  Agreement;  provided,  that if (i) such filing is
pursuant  to  Section 3 or (ii) a  Prospectus  contained  in an  Exchange  Offer
Registration  Statement  filed pursuant to Section 2 is required to be delivered
under the Securities Act by any  Participating  Broker-Dealer  who seeks to sell
Exchange Securities during the Applicable Period, before filing any Registration
Statement or  Prospectus  or any  amendments  or  supplements  thereto,  (A) the
Issuers shall notify the Holders of the Registrable  Securities  covered by such
Registration Statement, their Special Counsel (if the Issuers have been notified
of the identity of such Special Counsel), each Participating Broker-Dealer,  the
managing  underwriters,  if any,  and their  counsel (if the  Issuers  have been
notified of the identity of such  counsel) of such filing at least five Business
Days  prior to  making  such  filing,  (B) if  requested,  the  Issuers  and the
Guarantors shall furnish to and afford the Holders of the Registrable Securities
covered  by  such   Registration   Statement,   their  Special   Counsel,   each
Participating  Broker-Dealer,  the  managing  underwriters,  if any,  and  their
counsel a  reasonable  opportunity  to  review,  and shall  make  available  for
inspection by such Persons,  copies of all such documents  (including  copies of
any documents to be incorporated by reference  therein and all exhibits thereto)
proposed  to be filed and such  financial  and other  information  and books and
records of the Issuers and the Guarantors,  as shall be reasonably necessary, in
the opinion of Special Counsel and the respective counsels to such Participating
Broker-Dealers   and  underwriters,   to  conduct  a  reasonable  due  diligence
investigation  within the meaning of the Securities Act, and (C) the Issuers and
the Guarantors shall use their  respective  reasonable best efforts to cause the
members,  managers,  officers,  directors  and  employees of the Issuers and the
Guarantors,  and counsel and  independent  certified  public  accountants of the
Issuers and the Guarantors, to respond to such inquiries, as shall be necessary,
in  the  opinion  of  Special  Counsel  and  the  respective  counsels  to  such
Participating  Broker-Dealers  and  underwriters,  to conduct a  reasonable  due
diligence  investigation  within the meaning of the Securities  Act. The Issuers
and the Guarantors may require each Holder, and each of such Holder's agents and
representatives  to  agree  to  keep  confidential  any  non-public  information
relating to the Issuers and the Guarantors received by such Holder or such agent
or  representative  and  not to  disclose  such  information  (other  than to an
affiliate or  prospective  purchaser  who agrees to respect the  confidentiality
provisions of this Section 6(a)) until such  information has been made generally
available to the public  unless the release of such  information  is required by
law or necessary to respond to inquiries of regulatory authorities.  The Issuers
and the Guarantors  shall not file any  Registration  Statement or Prospectus or
any  amendments  or  supplements  thereto  which the Holders must be afforded an
opportunity to review prior to the filing of such document,  if the Holders of a
majority in aggregate principal amount of the Registrable  Securities covered by
such

                                       14
<PAGE>

Registration Statement,  their Special Counsel, any Participating  Broker-Dealer
or the managing  underwriters,  if any, or their counsel shall reasonably object
to such filing within five Business Days after receipt of the Issuers' notice of
filing described above in this Section 6(a).

      (b) Provide an indenture  trustee for the  Registrable  Securities  or the
Exchange  Securities,  as the case may be,  and  cause the  Indenture  (or other
indenture relating to the Registrable  Securities) to be qualified under the TIA
not later  than the  effective  date of the  first  Registration  Statement;  in
connection  therewith,  effect such changes to such indenture as may be required
for such  indenture to be so qualified in accordance  with the terms of the TIA;
and  execute,  and use their  respective  reasonable  best efforts to cause such
trustee to execute, all documents as may be required to effect such changes, and
all other forms and  documents  required to be filed with the SEC to enable such
indenture to be so qualified in a timely manner.

      (c)  Prepare  and file  with the SEC such  amendments  and  post-effective
amendments to the  Registration  Statement as may be necessary in order to cause
the  Registration  Statement to become  effective and to keep such  Registration
Statement continuously effective for the time periods required hereby; cause the
related Prospectus to be supplemented by any prospectus  supplement  required by
Applicable  Law, and as so supplemented to be filed pursuant to Rule 424 (or any
similar  provisions  then in force) under the  Securities  Act, and comply fully
with Rules 424,  430A and 462,  as  applicable,  under the  Securities  Act in a
timely  manner;  and comply in all material  respects with the provisions of the
Securities  Act and the  Exchange  Act  applicable  thereto  with respect to the
disposition  of all securities  covered by such  Registration  Statement,  as so
amended,  or in such  Prospectus,  as so  supplemented,  in accordance  with the
intended methods of distribution set forth in such Registration Statement, as so
amended, and such Prospectus, as so supplemented.

      (d) Furnish to such selling Holders and Participating  Broker-Dealers  who
so  request  (i)  upon  the  Issuers'  receipt,  a copy of the  order of the SEC
declaring such Registration  Statement and any post-effective  amendment thereto
effective,  (ii) such reasonable number of copies of such Registration Statement
and of each  amendment  and  supplement  thereto  (in each  case  including  any
documents incorporated therein by reference and all exhibits (including exhibits
incorporated  by  reference)  to  such  Registration  Statement  and  each  such
amendment  and  supplement),  (iii)  such  reasonable  number  of  copies of the
Prospectus included in such Registration  Statement  (including each preliminary
prospectus and each supplement thereto), and such reasonable number of copies of
the final Prospectus as filed by the Issuers and the Guarantors pursuant to Rule
424(b) under the  Securities  Act, in conformity  with the  requirements  of the
Securities  Act, and (iv) any  amendments and  supplements  required to be filed
pursuant to Section 6(c) and any documents incorporated therein

                                       15
<PAGE>

by reference  and all  exhibits  thereto,  including  exhibits  incorporated  by
reference, as such Person may reasonably request.  Subject to the last paragraph
of this Section 6, the Issuers and the  Guarantors  hereby consent to the use of
the Prospectus by each of the selling  Holders of Registrable  Securities and by
each such Participating Broker-Dealer,  as the case may be, and the underwriters
or agents,  if any, and dealers (if any),  in  connection  with the offering and
sale of the  Registrable  Securities  covered  by, or the sale by  Participating
Broker-Dealers of the Exchange  Securities  pursuant to, such Prospectus and any
amendment or supplement thereto.

      (e) If (A) a Shelf  Registration  is filed  pursuant to Section 3 or (B) a
Prospectus contained in an Exchange Offer Registration  Statement filed pursuant
to  Section  2 is  required  to be  delivered  under the  Securities  Act by any
Participating  Broker-Dealer  who seeks to sell Exchange  Securities  during the
Applicable Period, notify the selling Holders of Registrable  Securities,  their
Special  Counsel (if the  Issuers  have been  notified  of the  identity of such
Special   Counsel),   each   Participating   Broker-Dealer   and  the   managing
underwriters, if any, promptly (but in any event within two Business Days), and,
if  requested  by such  Person,  confirm  such  notice  in  writing,  (i) when a
Prospectus  or  any   prospectus   supplement  or   Registration   Statement  or
post-effective  amendment has been filed,  and,  with respect to a  Registration
Statement or any  post-effective  amendment,  when the same has become effective
under the  Securities  Act,  (ii) of the  issuance  by the SEC of any stop order
suspending  the  effectiveness  of a  Registration  Statement  or of  any  order
preventing or  suspending  the use of any  Prospectus  or the  initiation of any
proceedings  for that  purpose,  (iii)  if,  at any time  when a  Prospectus  is
required by the Securities  Act to be delivered in connection  with sales of the
Registrable  Securities,  the  representations and warranties of the Issuers and
the Guarantors contained in any agreement (including any underwriting agreement)
contemplated  by Section 6(n) below cease to be true and correct in any material
respect,  (iv) of the  receipt by the  Issuers or any of the  Guarantors  of any
notification  with respect to the suspension of the  qualification  or exemption
from  qualification  of a  Registration  Statement  or any  of  the  Registrable
Securities  or  the  Exchange   Securities  to  be  sold  by  any  Participating
Broker-Dealer  for  offer  or sale in any  jurisdiction,  or the  contemplation,
initiation  or  threatening  of any  proceeding  for  such  purpose,  (v) of the
happening  of any event  that  makes  any  statement  made in such  Registration
Statement or related  Prospectus  or any document  incorporated  or deemed to be
incorporated  therein by reference to be untrue in any material  respect or that
requires  the  making  of any  additions  to or  changes  in  such  Registration
Statement,  Prospectus  or  documents  so that it will not  contain  any  untrue
statement of a material  fact or omit to state any material  fact required to be
stated  therein or necessary  to make the  statements  therein,  in light of the
circumstances under which such statements were made, not misleading, (vi) of the
Issuers' and the  Guarantors'  reasonable  determination  that a  post-effective
amendment to a Registration  Statement  would be  appropriate,  and (vii) of any
written  request by the

                                       16
<PAGE>

SEC for post-effective  amendments to the Registration  Statement or supplements
to the Prospectus.

      (f) Use their  respective  reasonable best efforts to register or qualify,
and,  if  applicable,  to  cooperate  with the  selling  Holders of  Registrable
Securities, the underwriters, if any, and their respective counsel in connection
with the registration or qualification  (or exemption from such  registration or
qualification)  of,  Registrable  Securities  to be included  in a  Registration
Statement  for offer  and sale  under  the  securities  or Blue Sky laws of such
jurisdictions  within the United  States as any  selling  Holder,  Participating
Broker-Dealer or the managing  underwriters  reasonably request in writing; and,
if  Securities  are offered  other than through an  Underwritten  Offering,  the
Issuers and the Guarantors shall cause their respective  counsel to perform Blue
Sky  investigations  and file  registrations and  qualifications  required to be
filed  pursuant  to this  Section  6(f) at the  expense of the  Issuers  and the
Guarantors;   keep  each  such   registration  or  qualification  (or  exemption
therefrom)  effective during the period such Registration  Statement is required
to be kept  effective  and do any and all  other  acts or  things  necessary  or
advisable to enable the  disposition  in such  jurisdictions  of the  Securities
covered by the applicable Registration Statement;  provided,  however, that none
of the Issuers or the  Guarantors  shall be required to (i)  register or qualify
generally to do business in any jurisdiction  where it is not then so qualified,
(ii) take any action that would subject it to general  service of process in any
jurisdiction where it is not then so subject or (iii) take any action that would
subject  it to  general  taxation  in  respect  of  doing  business  in any such
jurisdiction where it is not then so subject.

      (g) Use their  respective  reasonable best efforts to prevent the issuance
of any  order  suspending  the  effectiveness  of a  Registration  Statement  or
preventing or suspending the use of a Prospectus or suspending the qualification
(or  exemption  from  qualification)  of any of the  Securities  for sale in any
jurisdiction,  and, if any such order is issued, use their respective reasonable
best  efforts  to obtain  the  withdrawal  or  lifting  of any such order at the
earliest possible time.

      (h) If (i) a Shelf  Registration  is filed pursuant to Section 3 or (ii) a
Prospectus contained in an Exchange Offer Registration  Statement filed pursuant
to  Section  2 is  required  to be  delivered  under the  Securities  Act by any
Participating  Broker-Dealer  who seeks to sell Exchange  Securities  during the
Applicable Period, and if requested by the managing  underwriters,  if any, such
Participating  Broker-Dealer or the Holders of a majority in aggregate principal
amount of the Registrable  Securities,  (A) promptly incorporate in a Prospectus
supplement  or  post-effective   amendment  such  information  as  the  managing
underwriters,  if any, or such Holders reasonably request to be included therein
as required to comply with any Applicable Law and (B) make all required  filings
of such  Prospectus  supplement  or  such  post-effective  amendment  as soon as
practicable  after the Issuers and the Guarantors have

                                       17
<PAGE>

received  notification  of  such  matters  required  by  Applicable  Law  to  be
incorporated in such Prospectus supplement or post-effective amendment.

      (i) If (i) a Shelf  Registration  is filed pursuant to Section 3 or (ii) a
Prospectus contained in an Exchange Offer Registration  Statement filed pursuant
to  Section  2 is  required  to be  delivered  under the  Securities  Act by any
Participating  Broker-Dealer  who seeks to sell Exchange  Securities  during the
Applicable  Period,  cooperate  with the  selling  Holders,  such  Participating
Broker-Dealer  and the managing  underwriters,  if any, to facilitate the timely
preparation and delivery of certificates  representing Registrable Securities to
be sold, which certificates shall not bear any restrictive  legends and shall be
in a form eligible for deposit with The Depository  Trust Company  ("DTC");  and
enable such Registrable Securities to be in such denominations and registered in
such  names  as  the  managing   underwriters,   if  any,   such   Participating
Broker-Dealer or the Holders may request.

      (j) If (i) a Shelf  Registration  is filed pursuant to Section 3 or (ii) a
Prospectus contained in an Exchange Offer Registration  Statement filed pursuant
to  Section  2 is  required  to be  delivered  under the  Securities  Act by any
Participating  Broker-Dealer  who seeks to sell Exchange  Securities  during the
Applicable  Period,  upon the  occurrence of any event  contemplated  by Section
6(e)(v),   6(e)(vi)  or  6(e)(vii),   as  promptly  as  practicable   prepare  a
post-effective  amendment to the  Registration  Statement,  a supplement  to the
related   Prospectus   or  a  supplement  or  amendment  to  any  such  document
incorporated  or deemed to be  incorporated  therein by  reference,  or file any
other  required  document so that, as thereafter  delivered to the purchasers of
the  Registrable  Securities  being sold  thereunder or to the purchasers of the
Exchange Securities to whom such Prospectus will be delivered by a Participating
Broker-Dealer,  such  Prospectus  will not  contain  an  untrue  statement  of a
material fact or omit to state a material fact required to be stated  therein or
necessary to make the statements  therein,  in light of the circumstances  under
which they were made, not misleading,  and, if SEC review is required, use their
respective reasonable best efforts to cause such post-effective  amendment to be
declared effective as soon as practicable.

      (k) Use their  respective  reasonable best efforts to cause the Securities
covered by a  Registration  Statement  to be rated with the  appropriate  rating
agencies,  if  appropriate,  and if so requested by the Holders of a majority in
aggregate principal amount of Securities covered by such Registration  Statement
or the managing underwriters, if any.

      (l)  Prior  to the  effective  date of the  first  Registration  Statement
relating to the  Securities,  (i) provide the  applicable  trustee  with printed
certificates for the Securities in a form eligible for deposit with DTC and (ii)
provide a CUSIP number for each of the Securities.

                                       18
<PAGE>

      (m) Use their  respective  commercially  reasonable  efforts  to cause all
Securities  covered  by  such  Registration  Statement  to  be  listed  on  each
securities  exchange,  if any, on which  similar debt  securities  issued by the
Issuers are then listed.

      (n) If a Shelf  Registration  is filed  pursuant  to Section 3, enter into
such agreements (which, if such Shelf Registration is an Underwritten  Offering,
shall  include an  underwriting  agreement  in form,  scope and  substance as is
customary in Underwritten  Offerings) and take all such other reasonable actions
in connection  therewith  (including those reasonably  requested by the managing
underwriters,  if the offering is an Underwritten  Offering, or the Holders of a
majority in aggregate principal amount of Registrable  Securities being sold, if
the offering is not an Underwritten Offering) in order to expedite or facilitate
the registration or the disposition of such Registrable Securities,  and in such
connection, whether or not an underwriting agreement is entered into and whether
or  not  the  registration  is  an  Underwritten  Registration,  (i)  make  such
representations  and  warranties  to  the  Holders,  if the  offering  is not an
Underwritten  Offering, or the underwriters,  if the offering is an Underwritten
Offering,  with  respect to the  business of the  Issuers  and their  respective
subsidiaries, if any, and the Registration Statement,  Prospectus and documents,
if any,  incorporated or deemed to be incorporated by reference therein, in each
case,  in form,  substance  and  scope as are  customarily  made by  Issuers  to
underwriters  in  Underwritten  Offerings  of  debt  securities  similar  to the
Securities,  and confirm the same if and when reasonably requested;  (ii) obtain
opinions of counsel to the Issuers and the Guarantors and updates thereof (which
counsel  and  opinions  (in  form,  scope  and  substance)  shall be  reasonably
satisfactory  to the managing  underwriters,  if the offering is an Underwritten
Offering,  or the Holders of a majority  in  aggregate  principal  amount of the
Registrable  Securities  being  sold,  if the  offering  is not an  Underwritten
Offering,  provided, that with respect to the Holders of a majority in aggregate
principal amount of the Registrable Securities being sold, such opinion shall be
deemed to be  reasonably  satisfactory  to such  Holders if such  Holders do not
provide to the Issuers  written notice of their objection to such opinion within
five  Business  Days after their  receipt of such  opinion),  addressed  to each
selling  Holder  and each of the  underwriters,  if any,  covering  the  matters
customarily  covered in opinions  requested  in  Underwritten  Offerings of debt
securities  similar to the Securities;  (iii) obtain "cold comfort"  letters and
updates thereof (which letters and updates (in form,  scope and substance) shall
be reasonably  satisfactory to the managing  underwriters)  from the independent
certified  public  accountants  of the  Issuers  and  the  Guarantors  (and,  if
necessary,  any other independent certified public accountants of any subsidiary
of the Issuers or of any  business  acquired by the Issuers for which  financial
statements  and  financial  data are,  or are  required  to be,  included in the
Registration  Statement),  addressed  to each  selling  Holder  and  each of the
underwriters,  if any, such letters to be in customary form and covering matters
of the type  customarily  covered in "cold comfort"  letters

                                       19
<PAGE>

in connection  with  Underwritten  Offerings of debt  securities  similar to the
Securities;  and  (iv)  deliver  such  documents  and  certificates  as  may  be
reasonably  requested  by the Holders of a majority in  principal  amount of the
Registrable  Securities  being  sold,  if the  offering  is not an  Underwritten
Offering,  or the  managing  underwriters,  if the  offering is an  Underwritten
Offering,  to  evidence  the  continued  validity  of  the  representations  and
warranties of the Issuers and the Guarantors and their respective  subsidiaries,
if any,  made pursuant to clause (i) above and to evidence  compliance  with any
conditions  contained in the underwriting  agreement or other similar  agreement
entered into by the Issuers and the Guarantors.

      (o) Comply with all applicable  rules and  regulations of the SEC and make
generally  available to their respective  security  holders earnings  statements
satisfying  the  provisions of Section 11(a) of the  Securities Act and Rule 158
thereunder (or any similar rule  promulgated  under the Securities Act) no later
than 45 days after the end of any  12-month  period (or 90 days after the end of
any 12-month period if such period is a fiscal year) (i) commencing on the first
day of the fiscal quarter  following  each fiscal  quarter in which  Registrable
Securities  are  sold to  underwriters  in a firm  commitment  or  best  efforts
underwritten  offering and (ii) if not sold to underwriters in such an offering,
commencing on the first day of the first fiscal quarter of the Issuers after the
effective date of a Registration  Statement,  which  statements shall cover said
12-month periods.

      (p) Upon consummation of an Exchange Offer or Private Exchange,  obtain an
opinion  of  counsel  to the  Issuers  and the  Guarantors  (in form,  scope and
substance  reasonably  satisfactory to the Initial Purchaser),  addressed to the
Trustee for the benefit of all Holders  participating  in the Exchange  Offer or
Private Exchange, as the case may be, to the effect that (i) the Issuers and the
Guarantors have duly authorized,  executed and delivered the Exchange Securities
or the Private Exchange Securities,  as the case may be, and the Indenture, (ii)
the Exchange Securities or the Private Exchange Securities,  as the case may be,
and the Indenture constitute legal, valid and binding obligations of the Issuers
and the  Guarantors,  enforceable  against  the Issuers  and the  Guarantors  in
accordance with their  respective terms and (iii) all obligations of the Issuers
and the  Guarantors  under  the  Exchange  Securities  or the  Private  Exchange
Securities,  as the case may be,  and the  Indenture  are  secured  by Liens (as
defined in the Indenture) on the assets  securing the obligations of the Issuers
and the Guarantors  under the Notes and the Indenture  immediately  prior to the
consummation of such Exchange Offer or Private Exchange,  as the case may be, in
the  case  of each  of  clauses  (i),  (ii)  and  (iii),  subject  to  customary
exceptions, assumptions and qualifications.

      (q) If an Exchange Offer or Private  Exchange is to be  consummated,  upon
delivery of the  Registrable  Securities  by such Holders to the Issuers and the
Guarantors  (or to  such  other  Person  as  directed  by the  Issuers  and  the
Guarantors)  in

                                       20
<PAGE>

exchange for the Exchange Securities or the Private Exchange Securities,  as the
case may be, the Issuers and the Guarantors shall request the Issuers'  exchange
agent  or  transfer  agent  to mark on such  Registrable  Securities  that  such
Registrable  Securities  are  being  cancelled  in  exchange  for  the  Exchange
Securities or the Private Exchange Securities, as the case may be, and that such
Registrable Securities not be marked as paid or otherwise satisfied.

      (r) Cooperate  with each seller of Registrable  Securities  covered by any
Registration  Statement  and  each  underwriter,  if any,  participating  in the
disposition  of such  Registrable  Securities  and their  respective  counsel in
connection with any filings required to be made with the NASD.

      (s) Use their  respective  reasonable best efforts to take all other steps
necessary to effect the registration of the Registrable  Securities covered by a
Registration Statement contemplated hereby.

      The  Issuers  and the  Guarantors  may  require  each  selling  Holder  of
Registrable   Securities  as  to  which  any   registration  is  being  effected
(including,  without  limitation,  any Shelf  Registration)  to  furnish  to the
Issuers and Guarantors in writing such information regarding such selling Holder
and the  distribution  of such  Registrable  Securities  as the  Issuers  or the
Guarantors may, from time to time, reasonably request, including the information
specified  in Item  507 or 508 of  Regulation  S-K,  as  applicable,  under  the
Securities Act and any other  information  regarding such selling Holder and the
distribution of such Registrable  Securities required, in the opinion of counsel
to the Issuers,  under the  securities  laws to be included in the  Registration
Statement (the "SEC REQUIRED  INFORMATION").  The Issuers and the Guarantors may
exclude from any  registration  of Registrable  Securities  (including,  without
limitation,  any Shelf  Registration) the Registrable  Securities of any selling
Holder who fails to furnish to the  Issuers,  within 20 days after  receipt of a
written request therefor,  the SEC Required Information.  No such selling Holder
shall be entitled to liquidated  damages  pursuant to Section 4 unless and until
such selling  Holder shall have  provided  the SEC  Required  Information.  Each
Holder whose Registrable  Securities are to be included in a Shelf  Registration
Statement agrees to promptly  furnish to the Issuers all additional  information
required to be disclosed in order to make the information  previously  furnished
to the Issuers by such Holder not materially misleading.

      Each Holder and each Participating  Broker-Dealer agrees by acquisition of
such Registrable Securities or Exchange Securities that, upon receipt of written
notice from the Issuers and the  Guarantors of the happening of any event of the
kind described in Section 6(e)(ii),  6(e)(iv),  6(e)(v),  6(e)(vi) or 6(e)(vii),
such  Holder  will  forthwith  discontinue  disposition  (in  the  jurisdictions
specified  in a notice  of a  6(e)(iv)  event,  and  elsewhere  in a notice of a
6(e)(ii),  6(e)(v),  6(e)(vi) or 6(e)(vii)

                                       21
<PAGE>

event) of such Securities  covered by such Registration  Statement or Prospectus
until the earlier of (i) such  Holder's  receipt of the copies of the amended or
supplemented  Prospectus  contemplated  by Section  6(j);  or (ii) the time such
Holder is advised in writing (the  "ADVICE")  by the Issuers and the  Guarantors
that offers or sales in a particular  jurisdiction  may be resumed,  or that the
use of the  applicable  Prospectus  may be resumed,  as the case may be, and has
received copies of any amendments or supplements thereto. If the Issuers and the
Guarantors  shall give such  notice,  each of the  Effectiveness  Period and the
Applicable  Period  shall be extended by the number of days during such  periods
from and  including  the date of the giving of such notice to and  including the
date when each seller of such Securities covered by such Registration  Statement
shall have  received  (x) the copies of the amended or  supplemented  Prospectus
contemplated by Section 6(j) or (y) the Advice.

7.    REGISTRATION EXPENSES.

      (a) All fees and expenses  incident to the  performance  of or  compliance
with this  Agreement  by the  Issuers and the  Guarantors  shall be borne by the
Issuers and the  Guarantors  whether or not the Exchange Offer is consummated or
the Exchange Offer  Registration  Statement or a Shelf  Registration is filed or
becomes effective, including, without limitation:

            (i) all registration and filing fees (including, without limitation,
(A) fees with respect to filings  required to be made with the NASD and (B) fees
and expenses of compliance  with state  securities or Blue Sky laws  (including,
without  limitation,  reasonable fees and disbursements of counsel in connection
with  Blue  Sky  qualifications  of  the  Registrable   Securities  or  Exchange
Securities and determination of the eligibility of the Registrable Securities or
Exchange  Securities for  investment  under the laws of such  jurisdictions  (x)
where the Holders are located, in the case of the Exchange Securities, or (y) as
provided in Section  6(f),  in the case of  Registrable  Securities  or Exchange
Securities to be sold by a  Participating  Broker-Dealer  during the  Applicable
Period));

            (ii) printing expenses (including,  without limitation,  expenses of
printing  certificates  for Registrable  Securities or Exchange  Securities in a
form eligible for deposit with DTC and of printing  prospectuses if the printing
of  prospectuses  is  requested  by the  managing  underwriters,  if any, or, in
respect  of  Registrable  Securities  or  Exchange  Securities  to be  sold by a
Participating  Broker-Dealer  during the Applicable  Period, by the Holders of a
majority in aggregate principal amount of the Registrable Securities included in
any Registration Statement or of such Exchange Securities, as the case may be);

                                       22
<PAGE>

            (iii)  messenger,   telephone,   duplication,  word  processing  and
delivery  expenses incurred by the Issuers and the Guarantors in the performance
of their obligations hereunder;

            (iv)  fees  and  disbursements  of  counsel  for  the  Issuers,  the
Guarantors and, subject to Section 7(b), the Holders;

            (v) fees  and  disbursements  of all  independent  certified  public
accountants referred to in Section 6(n)(iii) (including, without limitation, the
expenses of any special audit and "cold comfort" letters required by or incident
to such performance);

            (vi) fees and expenses of any "qualified independent underwriter" or
other independent  appraiser  participating in an offering pursuant to Section 3
of  Schedule E to the  By-laws  of the NASD,  but only where the need for such a
"qualified  independent  underwriter"  arises  due to a  relationship  with  the
Issuers and the Guarantors;

            (vii)  Securities  Act liability  insurance,  if the Issuers and the
Guarantors so desire such insurance

            (viii) fees and  expenses of all other  Persons,  including  special
experts,  retained by the Issuers or the  Guarantors;  internal  expenses of the
Issuers and the  Guarantors  (including,  without  limitation,  all salaries and
expenses  of  their  respective  officers  and  employees  performing  legal  or
accounting duties), and the expenses of any annual audit; and

            (ix)  rating  agency  fees  and the fees and  expenses  incurred  in
connection  with the listing (if any) of the  Securities to be registered on any
securities exchange.

      (b) The Issuers and the  Guarantors  shall  reimburse  the Holders for the
reasonable fees and  disbursements  of not more than one counsel (in addition to
appropriate  local  counsel)  chosen by the Holders of a majority  in  aggregate
principal   amount  of  the  Registrable   Securities  to  be  included  in  any
Registration Statement and other reasonable and necessary out-of-pocket expenses
of the Holders  incurred in connection with the  registration of the Registrable
Securities.

8.    INDEMNIFICATION.

      (a) Indemnification by the Issuers and the Guarantors. The Issuers and the
Guarantors,  jointly  and  severally,  shall,  without  limitation  as to  time,
indemnify and hold harmless  each Holder and each  Participating  Broker-Dealer,
each Person who controls (within the meaning of Section 15 of the Securities Act
or Section

                                       23
<PAGE>

20(a) of the Exchange Act (any of such persons being hereinafter  referred to as
a  "CONTROLLING   PERSON"))   each  such  Holder  and  any  such   Participating
Broker-Dealer  and  the  members,  managers,  officers,   directors,   partners,
employees,  representatives  and  agents  of  each  such  Holder,  Participating
Broker-Dealer  and controlling  person  (collectively,  the "HOLDER  INDEMNIFIED
PARTIES"),  to the fullest extent  lawful,  from and against any and all losses,
claims, damages,  liabilities,  costs (including,  without limitation,  costs of
preparation and reasonable  attorneys'  fees) and expenses  (including,  without
limitation,  costs and  expenses  incurred  in  connection  with  investigating,
preparing,  pursuing or defending  against any of the foregoing)  (collectively,
"LOSSES"),  as  incurred,  arising  out of or based  upon any  untrue or alleged
untrue  statement of a material fact  contained in any  Registration  Statement,
preliminary prospectus, Prospectus or form of prospectus, or in any amendment or
supplement  thereto,  or any  omission or alleged  omission  to state  therein a
material fact required to be stated  therein or necessary to make the statements
therein,  in the light of the  circumstances  under  which they were  made,  not
misleading,  except  that  neither  the  Issuers  nor the  Guarantors  shall  be
obligated to indemnify  or hold  harmless any Person  pursuant to this Section 8
for any Losses  insofar as such Losses  arise out of or are based upon an untrue
statement or alleged  untrue  statement or omission or alleged  omission made in
such  Registration  Statement,  preliminary  prospectus,  Prospectus  or form of
prospectus,  or in any amendment or supplement  thereto,  in reliance upon or in
conformity   with   information   relating  to  such  Holder  or   Participating
Broker-Dealer and furnished in writing to the Issuers and the Guarantors by such
Holder or Participating Broker-Dealer expressly for use therein. The Issuers and
each of the  Guarantors  shall also  indemnify  underwriters,  selling  brokers,
dealer managers and similar securities industry  professionals  participating in
the  distribution,  their members,  managers,  officers,  directors,  agents and
employees and each of their respective controlling persons to the same extent as
provided  above with respect to the  indemnification  of the Holder  Indemnified
Parties.

      (b)  Indemnification by Holders of Registrable  Securities.  In connection
with any Registration Statement,  preliminary prospectus,  Prospectus or form of
prospectus,  or any  amendment  or  supplement  thereto,  in which a  Holder  is
participating,  such Holder shall  furnish to the Issuers and the  Guarantors in
writing such  information as the Issuers and the Guarantors  reasonably  request
for  use  in  connection  with  any  such  Registration  Statement,  preliminary
prospectus,  Prospectus  or form of  prospectus,  any  amendment  or  supplement
thereto,  and shall,  severally and not jointly,  without limitation as to time,
indemnify and hold  harmless the Issuers and the  Guarantors,  their  respective
members, managers,  directors,  officers, agents and employees, each controlling
person  of the  Issuers  or any of the  Guarantors  and the  members,  managers,
directors,  officers,  partners,  representatives,  agents or  employees of such
controlling  persons, to the fullest extent lawful, from and against any and all
Losses,  as incurred,  arising out of or based upon any untrue or alleged untrue
statement  of a material  fact  contained  in any such  Registration  Statement,

                                       24
<PAGE>

preliminary  prospectus,  Prospectus or form of prospectus,  or any amendment or
supplement  thereto,  or any  omission or alleged  omission  to state  therein a
material fact required to be stated  therein or necessary to make the statements
therein,  in the light of the  circumstances  under  which they were  made,  not
misleading to the extent, but only to the extent,  that such untrue statement or
alleged untrue statement of a material fact or omission or alleged omission of a
material  fact is contained in or omitted from any  information  so furnished in
writing by such Holder to the Issuers and the  Guarantors  expressly  for use in
any  Registration  Statement,  preliminary  prospectus,  Prospectus  or  form of
prospectus,  or any  amendment  or  supplement  thereto.  In no event  shall the
liability of any selling Holder be greater in amount than such Holder's  Maximum
Contribution Amount (as defined below).

      (c) Conduct of  Indemnification  Proceedings.  If any Proceeding  shall be
brought or asserted against any Person entitled to indemnification hereunder (an
"INDEMNIFIED  PARTY"), such indemnified party shall promptly notify the party or
parties from which such  indemnification is sought (the "INDEMNIFYING  PARTIES")
in writing;  provided,  that the failure to so notify the  indemnifying  parties
shall not relieve the  indemnifying  parties  from any  obligation  or liability
except  to the  extent  (but  only to the  extent)  that  it  shall  be  finally
determined  by a court of competent  jurisdiction  (which  determination  is not
subject to appeal) that the indemnifying parties have been prejudiced materially
by such failure.

      The  indemnifying  parties  shall  have the right,  exercisable  by giving
written notice to an indemnified party, within 20 Business Days after receipt of
written notice from such  indemnified  party of such Proceeding,  to assume,  at
their expense, the defense of any such Proceeding; provided, that an indemnified
party shall have the right to employ separate counsel in any such Proceeding and
to participate in the defense thereof, but the fees and expenses of such counsel
shall be at the expense of such  indemnified  party or parties  unless:  (i) the
indemnifying  parties  have  agreed  to pay  such  fees and  expenses;  (ii) the
indemnifying  parties  shall have failed  promptly to assume the defense of such
Proceeding or shall have failed to employ  counsel  reasonably  satisfactory  to
such  indemnified  party;  or (iii) the  named  parties  to any such  Proceeding
(including any impleaded parties) include both such indemnified party and one or
more  indemnifying  parties (or any affiliates or controlling  persons of any of
the indemnifying parties), and such indemnified party shall have been advised by
counsel that there may be one or more  defenses  available  to such  indemnified
party that are in addition to, or in conflict with, those defenses  available to
the indemnifying  party or such affiliate or controlling  person (in which case,
if such indemnified  party notifies the indemnifying  parties in writing that it
elects to employ separate  counsel at the expense of the  indemnifying  parties,
the indemnifying  parties shall not have the right to assume the defense thereof
and the reasonable  fees and expenses of such counsel shall be at the expense of
the indemnifying parties; it being understood,  however,  that, the indemnifying
parties  shall not, in connection  with any

                                       25
<PAGE>

one such Proceeding or separate but substantially similar or related Proceedings
in the  same  jurisdiction,  arising  out of the  same  general  allegations  or
circumstances,  be liable for the fees and  expenses  of more than one  separate
firm of attorneys (together with appropriate local counsel) at any time for such
indemnified party).

      No  indemnifying  party  shall be liable  for any  settlement  of any such
Proceeding 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
Proceeding, each indemnifying party jointly and severally agrees, subject to the
exceptions and  limitations set forth above, to indemnify and hold harmless each
indemnified  party  from  and  against  any and all  Losses  by  reason  of such
settlement or judgment. The indemnifying party shall not consent to the entry of
any  judgment  or  enter  into  any  settlement  that  does  not  include  as an
unconditional  term  thereof  the giving by the  claimant or  plaintiff  to each
indemnified party of a release, in form and substance reasonably satisfactory to
the  indemnified  party,  from all liability in respect of such  Proceeding  for
which such  indemnified  party would be entitled  to  indemnification  hereunder
(whether or not any indemnified party is a party thereto).

      (d) Contribution. If the indemnification provided for in this Section 8 is
unavailable to an indemnified  party or is insufficient to hold such indemnified
party harmless for any Losses in respect of which this Section 8 would otherwise
apply by its terms (other than by reason of exceptions  provided in this Section
8),  then each  applicable  indemnifying  party,  in lieu of  indemnifying  such
indemnified  party,  shall have a joint and several  obligation to contribute to
the amount paid or payable by such indemnified party as a result of such Losses,
(i) in such  proportion  as is  appropriate  to reflect  the  relative  benefits
received by the indemnifying party, on the one hand, and such indemnified party,
on the  other  hand,  from the sale of  Registrable  Securities,  or (ii) if the
allocation  provided by clause (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  indemnifying
party,  on the one hand,  and such  indemnified  party,  on the other  hand,  in
connection  with the  actions,  statements  or omissions  that  resulted in such
Losses as well as any other  relevant  equitable  considerations.  The  relative
fault of such indemnifying party, on the one hand, and indemnified party, on the
other hand, shall be determined by reference to, among other things, whether any
untrue or alleged  untrue  statement  of a material  fact or omission or alleged
omission  to state a material  fact  relates  to  information  supplied  by such
indemnifying  party or  indemnified  party,  and the parties'  relative  intent,
knowledge,  access to information and opportunity to correct or prevent any such
statement or omission.  The amount paid or payable by an indemnified  party as a
result  of any  Losses  shall be deemed to  include  any legal or other  fees or
expenses incurred by such party in connection with any Proceeding, to the extent
such  party  would  have  been  indemnified  for such  fees or  expenses  if the
indemnification  provided  for in  Section  8(a) or 8(b) was  available  to such
party.

                                       26
<PAGE>

      The  parties  hereto  agree  that it would  not be just and  equitable  if
contribution  pursuant  to  this  Section  8(d)  were  determined  by  pro  rata
allocation  or by any other method of  allocation  that does not take account of
the equitable considerations referred to in the immediately preceding paragraph.
Notwithstanding  the provisions of this Section 8(d), an indemnifying party that
is a selling Holder shall not be required to contribute,  in the aggregate,  any
amount  in  excess  of such  Holder's  Maximum  Contribution  Amount.  A selling
Holder's  "MAXIMUM  CONTRIBUTION  AMOUNT" shall equal the excess, if any, of (i)
the  aggregate  proceeds  received  by such  Holder  pursuant to the sale of the
Registrable Securities giving rise to such indemnification  obligation over (ii)
the aggregate  amount of damages that 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(d)  are  several  in
proportion to the respective principal amount of the Registrable Securities held
by each Holder hereunder and not joint.  The Issuers'  obligations to contribute
pursuant to this Section 8(d) are joint and several.

      The indemnity and contribution  agreements contained in this Section 8 are
in addition to any liability that the indemnifying parties otherwise may have to
the indemnified parties.

9.    RULE 144 AND RULE 144A.

      Each of the  Issuers  covenants  that (a)  during  any  period  that it is
required to file reports under the  Securities Act or the Exchange Act, it shall
file all  reports  required  to be filed  by it in a timely  manner  in order to
comply with the current public  information  requirements  of Rule 144 under the
Securities  Act and (b) during any period  that it is not  required to file such
reports, it shall, upon the request of any Holder, make available to each Holder
or beneficial owner of Registrable  Securities and to any prospective  purchaser
of  Registrable  Securities  designated by such Holder or  beneficial  owner the
information  required by Rule  144A(d)(4)  under the Securities Act. Each of the
Issuers shall take such further action as any Holder may reasonably request, all
to the  extent  required  from  time to  time  to  enable  such  Holder  to sell
Registrable Securities without registration under the Securities Act pursuant to
the exemptions  provided by Rule 144 and Rule 144A, subject to the expiration of
the holding  period  required for sales under Rule 144(k)  under the  Securities
Act.  Upon the  written  request  of any  Holder,  each of the  Issuers  and the
Guarantors  shall deliver to such Holder a written  statement as to whether such
Issuer or Guarantor has complied with such information requirements.  Nothing in
this Section 9 shall be deemed to require the Issuers to register any Securities
pursuant to the Exchange Act.

                                       27
<PAGE>

10.   UNDERWRITTEN REGISTRATIONS.

      If any of the Registrable Securities covered by any Shelf Registration are
to be sold in an  Underwritten  Offering,  the  investment  banker or investment
bankers and manager or managers  that will manage the offering  will be selected
by the Holders of a majority in aggregate  principal  amount of such Registrable
Securities  included in such offering and shall be reasonably  acceptable to the
Issuers.

      No Holder  may  participate  in any  Underwritten  Registration  hereunder
unless such Holder (a) agrees to sell such  Holder's  Registrable  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  questionnaires,  powers  of  attorney,  underwriting  agreements  and other
documents reasonably required under the terms of such underwriting arrangements.

11.   MISCELLANEOUS.

      (a) Remedies.  In the event of a breach by either of the Issuers or any of
the Guarantors of any of their respective obligations under this Agreement, each
Holder, in addition to being entitled to exercise all rights provided herein, in
the  Indenture  or,  in the  case  of the  Initial  Purchaser,  in the  Purchase
Agreement, or granted by law, including recovery of damages, will be entitled to
specific  performance  of its rights under this  Agreement.  The Issuers and the
Guarantors  agree that monetary  damages would not be adequate  compensation for
any loss  incurred  by reason of a breach by either of the Issuers or any of the
Guarantors of any of the  provisions of this  Agreement and hereby further agree
that,  in the event of any action for  specific  performance  in respect of such
breach,  the Issuers and the Guarantors shall waive the defense that a remedy at
law would be adequate.

      (b) No  Inconsistent  Agreements.  The Issuers and the Guarantors have not
entered into, as of the date hereof, and shall not enter into, after the date of
this Agreement, any agreement with respect to any of their respective securities
that is inconsistent with the rights granted to the Holders in this Agreement or
otherwise conflicts with the provisions hereof.

      (c) Amendments and Waivers.  The provisions of this  Agreement,  including
the provisions of this sentence,  may not be amended,  modified or supplemented,
and waivers or  consents to  departures  from the  provisions  hereof may not be
given, without the written consent of (i) the Issuers and (ii) the Holders of at
least  a  majority  of  the  then  outstanding  aggregate  principal  amount  of
Registrable Securities; provided, that Sections 4(a) and 8 shall not be amended,
modified  or  supplemented,  and waivers or  consents  to  departures  from this
proviso may not be given,  unless the Issuers have obtained the written  consent
of each Holder.  Notwithstanding

                                       28
<PAGE>

the  foregoing,  a waiver or consent to depart from the  provisions  hereof with
respect to a matter  that  relates  exclusively  to the rights of Holders  whose
securities are being sold pursuant to a Registration Statement and that does not
directly  or  indirectly  affect  the  rights of other  Holders  may be given by
Holders of at least a majority in aggregate  principal amount of the Registrable
Securities being sold by such Holders pursuant to such  Registration  Statement;
provided that the  provisions  of this sentence may not be amended,  modified or
supplemented  except  in  accordance  with  the  provisions  of the  immediately
preceding  sentence.   Notwithstanding  the  foregoing,   the  Issuers  and  the
Guarantors may amend,  supplement or modify the  Registration  Rights  Agreement
without the consent of any Holder as provided in Section 9.1 of the Indenture.

      (d)  Notices.  All notices and other  communications  (including,  without
limitation,  any notices or other communications to the Trustee) provided for or
permitted  hereunder  shall  be  made in  writing  by  hand-delivery,  certified
first-class  mail  with  return  receipt  requested,  next-day  air  courier  or
facsimile:

            (i) if to a Holder,  at the most  current  address of such Holder as
set forth on the register kept by the  Registrar (as defined in the  Indenture),
with a copy to Skadden, Arps, Slate, Meagher & Flom LLP, 300 South Grand Avenue,
Suite 3400, Los Angeles,  California  90071,  facsimile  number (213)  687-5600,
Attention: Nicholas P. Saggese, Esq.; and

            (ii)  if to  either  of the  Issuers  or any of the  Guarantors,  to
Diamond Jo, LLC,  400 East Third  Street,  P.O. Box 1750,  Dubuque,  Iowa 52004,
facsimile number:  (563) 690-2190,  Attention:  Natalie Schramm,  with a copy to
Peninsula  Gaming  Partners,  LLC, 7137 Mission Hills Drive,  Las Vegas,  Nevada
89113,  facsimile number: (702) 247-6822,  Attention:  Michael S. Luzich, and an
additional copy to Mayer,  Brown, Rowe & Maw, 1675 Broadway,  New York, New York
10019-5820,  facsimile number: (212) 262-1910, Attention: Nazim Zilkha, Esq., or
at such  other  address,  notice  of  which  is  given  in  accordance  with the
provisions of this Section 11(d).

      All such  notices  and  communications  shall be  deemed to have been duly
given: when delivered by hand, if personally delivered; five Business Days after
being deposited in the mail, postage prepaid,  if mailed; one Business Day after
being  timely  delivered  to a next-day  air  courier,  if sent by next-day  air
courier;  and  when  receipt  is  acknowledged  by the  addressee,  if  sent  by
facsimile.

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

                                       29
<PAGE>

      (e) Successors and Assigns.  This Agreement  shall inure to the benefit of
and be binding upon the  successors  and assigns of each of the parties  hereto,
including  without  limitation  and without the need for an express  assignment,
subsequent Holders.

      (f)  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.

      (g)  Headings.  The  headings in this  Agreement  are for  convenience  of
reference only and shall not limit or otherwise affect the meaning hereof.  When
a reference  is made in this  Agreement to a Section,  paragraph,  subparagraph,
Schedule  or  Exhibit,   such  reference   shall  mean  a  Section,   paragraph,
subparagraph,  Schedule or Exhibit to this Agreement unless otherwise indicated.
The words  "INCLUDE,"  "INCLUDES," and  "INCLUDING"  when used in this Agreement
shall be deemed in each case to be followed by the words  "WITHOUT  LIMITATION."
The  phrases  "THE  DATE OF THIS  AGREEMENT,"  "THE DATE  HEREOF,"  and terms of
similar import, unless the context otherwise requires,  shall be deemed to refer
to April 16,  2004.  The words  "HEREOF,"  "HEREIN,"  "HEREWITH,"  "HEREBY"  and
"HEREUNDER"  and words of similar  import shall,  unless  otherwise  stated,  be
construed  to  refer  to this  Agreement  as a whole  and not to any  particular
provision of this Agreement.

      (h) GOVERNING LAW. THIS AGREEMENT SHALL BE CONSTRUED AND INTERPRETED,  AND
THE RIGHTS OF THE PARTIES SHALL BE DETERMINED IN ACCORDANCE WITH THE LAWS OF THE
STATE OF NEW YORK,  INCLUDING WITHOUT LIMITATION,  SECTIONS 5-1401 AND 5-1402 OF
THE NEW YORK GENERAL  OBLIGATIONS LAW AND RULE 327(b) OF NEW YORK CIVIL PRACTICE
LAWS AND RULES. EACH ISSUER AND EACH GUARANTOR HEREBY IRREVOCABLY SUBMITS TO THE
JURISDICTION  OF ANY NEW YORK STATE COURT SITTING IN THE BOROUGH OF MANHATTAN IN
THE CITY OF NEW YORK OR ANY FEDERAL COURT SITTING IN THE BOROUGH OF MANHATTAN IN
THE CITY OF NEW YORK IN RESPECT OF ANY SUIT, ACTION OR PROCEEDING ARISING OUT OF
OR RELATING TO THIS AGREEMENT, AND IRREVOCABLY ACCEPTS FOR ITSELF AND IN RESPECT
OF ITS PROPERTY,  GENERALLY AND  UNCONDITIONALLY,  JURISDICTION OF THE AFORESAID
COURTS. EACH ISSUER AND EACH GUARANTOR IRREVOCABLY WAIVES, TO THE FULLEST EXTENT
IT MAY  EFFECTIVELY DO SO UNDER  APPLICABLE LAW, TRIAL BY JURY AND ANY OBJECTION
THAT IT MAY NOW OR  HEREAFTER  HAVE TO THE LAYING OF THE VENUE OF ANY SUCH SUIT,
ACTION OR PROCEEDING BROUGHT IN ANY SUCH COURT AND ANY CLAIM THAT ANY SUCH SUIT,
ACTION OR PROCEEDING

                                       30
<PAGE>

BROUGHT IN SUCH COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM. EACH ISSUER AND
EACH GUARANTOR IRREVOCABLY CONSENTS, TO THE FULLEST EXTENT IT MAY EFFECTIVELY DO
SO UNDER APPLICABLE LAW, TO THE SERVICE OF PROCESS OF ANY OF THE  AFOREMENTIONED
COURTS IN ANY SUCH  ACTION OR  PROCEEDING  BY THE  MAILING OF COPIES  THEREOF BY
REGISTERED OR CERTIFIED MAIL, POSTAGE PREPAID, TO SUCH ISSUER OR SUCH GUARANTOR,
AS THE CASE MAY BE, AT ITS  ADDRESS  SET FORTH  HEREIN,  SUCH  SERVICE TO BECOME
EFFECTIVE 30 DAYS AFTER SUCH MAILING.  NOTHING  HEREIN SHALL AFFECT THE RIGHT OF
ANY PARTY TO THIS  AGREEMENT TO SERVE  PROCESS IN ANY OTHER MANNER  PERMITTED BY
LAW OR TO COMMENCE  LEGAL  PROCEEDINGS  OR OTHERWISE  PROCEED  AGAINST ANY OTHER
PARTY TO THIS AGREEMENT IN ANY OTHER JURISDICTION.

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

      (j) Entire Agreement. This Agreement is intended by the parties as a final
expression  of their  agreement,  and is 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  Issuers  and  the
Guarantors  in respect of securities  sold  pursuant to the Purchase  Agreement.
This Agreement  supersedes all prior agreements and  understandings  between the
parties with respect to such subject matter.

      (k)  Securities  Held  By  Either  of  the  Issuers  or  their  Respective
Affiliates.  Whenever  the  consent  or  approval  of  Holders  of  a  specified
percentage  of the  principal  amount  of  Registrable  Securities  is  required
hereunder,  Registrable  Securities  held by  either  of the  Issuers  or  their
respective  affiliates (as such term is defined in Rule 405 under the Securities
Act) (other than Holders deemed to be such affiliates  solely by reason of their
holdings of such  Registrable  Securities)  shall not

                                       31
<PAGE>

be counted in  determining  whether  such  consent or approval  was given by the
Holders of such required percentage.

                       [signature pages follow this page]

                                       32
<PAGE>

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

                              "ISSUERS":

                              DIAMOND JO, LLC

                              By: /s/M. BRENT STEVENS
                                  ----------------------------
                                  Name:  M. Brent Stevens
                                  Title: Chief Executive Officer

                              THE OLD EVANGELINE DOWNS CAPITAL CORP.

                              By: /s/M. BRENT STEVENS
                                  ----------------------------
                                  Name:  M. Brent Stevens
                                  Title: Chief Executive Officer

<PAGE>

                             "GUARANTORS":

                             PENINSULA GAMING CORP.

                              By: /s/M. BRENT STEVENS
                                  ----------------------------
                                  Name:  M. Brent Stevens
                                  Title: Chief Executive Officer

                              THE OLD EVANGELINE DOWNS, L.L.C.

                              By: /s/M. BRENT STEVENS
                                  ----------------------------
                                  Name:  M. Brent Stevens
                                  Title: Chief Executive Officer

<PAGE>

ACCEPTED AND AGREED TO:

JEFFERIES & COMPANY, INC.

By: /s/STEVE CROXTON
   -----------------------
   Name:  Steve Croxton
   Title: Managing Director

<PAGE>

                                                                       EXHIBIT A

                                 DIAMOND JO, LLC
                    THE OLD EVANGELINE DOWNS CAPITAL CORP.

               $233,000,000 8 3/4% SENIOR SECURED NOTES DUE 2012

                 JOINDER TO THE REGISTRATION RIGHTS AGREEMENT

                                                      __________________, 2004

JEFFERIES & COMPANY, INC.
11100 Santa Monica Boulevard
10th Floor
Los Angeles, California 90025

Ladies and Gentlemen:

            Reference  is  made  to  the  Registration   Rights  Agreement  (the
"REGISTRATION  RIGHTS AGREEMENT") dated April 16, 2004, by and among Diamond Jo,
LLC, a Delaware limited  liability  company (the "COMPANY"),  The Old Evangeline
Downs Capital Corp., a Delaware  corporation  ("CAPITAL" and,  together with the
Company,  the  "ISSUERS"),  and the  Guarantors  listed on the  signature  pages
thereto  under the  heading  "Guarantors,"  on the one  hand,  and  Jefferies  &
Company,  Inc. (the "INITIAL PURCHASER"),  on the other hand.  Capitalized terms
used herein but not defined herein shall have the respective  meanings  assigned
to such terms in the Registration Rights Agreement.

            This letter  agreement is being executed and delivered  concurrently
with the consummation of the Reorganization Transactions.

            1. Joinder.  Peninsula  Gaming,  LLC, a Delaware  limited  liability
company  (the  "PARENT  ISSUER"),  hereby  agrees  to be  bound  by  the  terms,
conditions and other  provisions of the  Registration  Rights Agreement with all
attendant rights, duties and obligations stated therein, with the same force and
effect as if originally named as an "Issuer" therein and as if the Parent Issuer
had executed the Registration Rights Agreement on the date thereof.

            2. GOVERNING LAW. THIS AGREEMENT SHALL BE CONSTRUED AND INTERPRETED,
AND THE RIGHTS OF THE PARTIES SHALL BE DETERMINED IN ACCORDANCE WITH THE LAWS OF
THE

<PAGE>

STATE OF NEW YORK,  INCLUDING WITHOUT LIMITATION,  SECTIONS 5 1401 AND 5 1402 OF
THE NEW YORK GENERAL  OBLIGATIONS LAW AND RULE 327(b) OF NEW YORK CIVIL PRACTICE
LAWS AND RULES. EACH ISSUER AND EACH GUARANTOR HEREBY IRREVOCABLY SUBMITS TO THE
JURISDICTION  OF ANY NEW YORK STATE COURT SITTING IN THE BOROUGH OF MANHATTAN IN
THE CITY OF NEW YORK OR ANY FEDERAL COURT SITTING IN THE BOROUGH OF MANHATTAN IN
THE CITY OF NEW YORK IN RESPECT OF ANY SUIT, ACTION OR PROCEEDING ARISING OUT OF
OR RELATING TO THIS AGREEMENT, AND IRREVOCABLY ACCEPTS FOR ITSELF AND IN RESPECT
OF ITS PROPERTY,  GENERALLY AND  UNCONDITIONALLY,  JURISDICTION OF THE AFORESAID
COURTS. EACH ISSUER AND EACH GUARANTOR IRREVOCABLY WAIVES, TO THE FULLEST EXTENT
IT MAY  EFFECTIVELY DO SO UNDER  APPLICABLE LAW, TRIAL BY JURY AND ANY OBJECTION
THAT IT MAY NOW OR  HEREAFTER  HAVE TO THE LAYING OF THE VENUE OF ANY SUCH SUIT,
ACTION OR PROCEEDING BROUGHT IN ANY SUCH COURT AND ANY CLAIM THAT ANY SUCH SUIT,
ACTION OR PROCEEDING  BROUGHT IN SUCH COURT HAS BEEN BROUGHT IN AN  INCONVENIENT
FORUM.  EACH  ISSUER AND EACH  GUARANTOR  IRREVOCABLY  CONSENTS,  TO THE FULLEST
EXTENT IT MAY EFFECTIVELY DO SO UNDER  APPLICABLE LAW, TO THE SERVICE OF PROCESS
OF ANY OF THE  AFOREMENTIONED  COURTS IN ANY SUCH  ACTION OR  PROCEEDING  BY THE
MAILING OF COPIES THEREOF BY REGISTERED OR CERTIFIED MAIL,  POSTAGE PREPAID,  TO
SUCH  ISSUER OR SUCH  GUARANTOR,  AS THE CASE MAY BE, AT ITS  ADDRESS  SET FORTH
HEREIN,  SUCH SERVICE TO BECOME  EFFECTIVE 30 DAYS AFTER SUCH  MAILING.  NOTHING
HEREIN SHALL AFFECT THE RIGHT OF ANY PARTY TO THIS AGREEMENT TO SERVE PROCESS IN
ANY OTHER MANNER PERMITTED BY LAW OR TO COMMENCE LEGAL  PROCEEDINGS OR OTHERWISE
PROCEED AGAINST ANY OTHER PARTY TO THIS AGREEMENT IN ANY OTHER JURISDICTION.

            3. Counterparts. This letter 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.

            4.  Amendments.  No  amendment  or waiver of any  provision  of this
letter agreement, nor any consent or approval to any departure therefrom,  shall
in any event be effective  unless the same shall be in writing and signed by the
parties hereto.

            5.  Headings.   The  headings  in  this  letter  agreement  are  for
convenience  of  reference  only and  shall not limit or  otherwise  affect  the
meaning hereof.

                            [signature pages follow]

<PAGE>

            If the foregoing is in accordance  with your  understanding  of this
letter agreement,  kindly sign and return to us a counterpart thereof, whereupon
this  instrument  will  become  a  binding  agreement  among  the  Issuers,  the
Guarantors,  the  Parent  Issuer  party  hereto  and the  Initial  Purchaser  in
accordance with its terms.

                              Very truly yours,

                              PENINSULA GAMING, LLC

                              By:___________________________________
                                 Name:
                                 Title:

<PAGE>

ACCEPTED AND AGREED TO:

JEFFERIES & COMPANY, INC.

By:___________________________
   Name:
   Title:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00069-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00069-of-00352.parquet"}]]