Document:

ESCROW AGREEMENT

      This Agreement is dated as of the 3rd day of October,  2006 among National
Investment  Managers  Inc., a Florida  corporation  (the  "Company"),  THE LAMCO
Group,  Inc.  ("LAMCO"),  and Sichenzia  Ross Friedman  Ference LLP (the "Escrow
Agent"):

                              W I T N E S S E T H:

      WHEREAS,  the  Company  and  LAMCO  have  entered  into a  Stock  Purchase
Agreement (the "Purchase  Agreement") pursuant to which LAMCO agreed to transfer
all of the issued and  outstanding  shares in  LAMORIELLO  & CO.,  INC.,  CIRCLE
PENSION, INC., AND SOUTHEASTERN PENSION SERVICES, INC. (collectively, Lamoriello
& Co., Inc., Circle Pension,  Inc., and Southeast  Pensions  Services,  Inc. are
hereinafter  referred to as the  "Companies") in  consideration  of a payment of
$1,450,000  in cash,  the  extinguishment  of debt in the  aggregate  amount  of
$1,750,000  and the issuance of 3,000,000  shares of common stock of the Company
(the "Purchase Price Shares");

      WHEREAS,  the parties  hereto  require  LAMCO to deliver  1,700,000 of the
Purchase  Price Shares (the  "Escrow  Shares") to the Escrow Agent to be held in
escrow  and  released  by the  Escrow  Agent in  accordance  with the  terms and
conditions of this Agreement; and

      WHEREAS,  the Escrow Agent is willing to serve as escrow agent pursuant to
the terms and conditions of this Agreement;

      NOW THEREFORE, the parties agree as follows:

                                    ARTICLE I
                                 INTERPRETATION

      1.1. Entire  Agreement.  This Agreement along with the Purchase  Agreement
(and exhibits and documents  delivered  thereunder)  and  constitute  the entire
agreement   between   the   parties   and   supersede   all  prior   agreements,
understandings,  negotiations and discussions,  whether oral or written,  of the
parties.  There are no warranties,  representations and other agreements made by
the parties in connection  with the subject matter hereof except as specifically
set forth in this Agreement.

      1.2.  Extended  Meanings.  In this Agreement  words importing the singular
number include the plural and vice versa;  words importing the masculine  gender
include  the  feminine  and  neuter  genders.  The  word  "person"  includes  an
individual,  body  corporate,  partnership,  trustee or trust or  unincorporated
association, executor, administrator or legal representative.

      1.3.  Waivers and  Amendments.  This  Agreement may be amended,  modified,
superseded,  cancelled, renewed or extended, and the terms and conditions hereof
may be waived,  only by a written  instrument signed by all parties,  or, in the
case of a waiver,  by the party waiving  compliance.  Except as expressly stated
herein,  no delay on the part of any party in  exercising  any  right,  power or
privilege  hereunder shall operate as a waiver thereof,  nor shall any waiver on
the part of any party of any right,  power or privilege  hereunder  preclude any
other or future exercise of any other right, power or privilege hereunder.

<PAGE>

      1.4.  Headings.  The division of this Agreement  into articles,  sections,
subsections  and paragraphs and the insertion of headings are for convenience of
reference only and shall not affect the construction or  interpretation  of this
Agreement.

      1.5. Law Governing this Agreement. This Agreement shall be governed by and
construed in accordance with the laws of the State of New York without regard to
principles of conflicts of laws.  Any action brought by either party against the
other  concerning  the  transactions  contemplated  by this  Agreement  shall be
brought only in the state courts of New York or in the federal courts located in
the state of New York. All parties and the individuals  executing this Agreement
and  other  agreements  on  behalf  of  the  Company  agree  to  submit  to  the
jurisdiction of such courts and waive trial by jury. The prevailing party (which
shall be the party which receives an award most closely resembling the remedy or
action  sought) shall be entitled to recover from the other party its reasonable
attorney's  fees and costs. In the event that any provision of this Agreement or
any other agreement delivered in connection herewith is invalid or unenforceable
under any applicable statute or rule of law, then such provision shall be deemed
inoperative  to the extent that it may  conflict  therewith  and shall be deemed
modified to conform with such statute or rule of law. Any such  provision  which
may prove invalid or  unenforceable  under any law shall not affect the validity
or enforceability of any other provision of any agreement.

      1.6. Specific Enforcement,  Consent to Jurisdiction. The Company and LAMCO
acknowledge and agree that irreparable  damage would occur in the event that any
of the provisions of this Agreement were not performed in accordance  with their
specific terms or were  otherwise  breached.  It is accordingly  agreed that the
parties  shall be entitled to an  injuction  or  injunctions  to prevent or cure
breaches of the  provisions of this  Agreement and to enforce  specifically  the
terms and  provisions  hereof or  thereof,  this being in  addition to any other
remedy  to  which  any of them may be  entitled  by law or  equity.  Each of the
Company  and LAMCO  hereby  waives,  and  agrees not to assert in any such suit,
action  or  proceeding,  any  claim  that it is not  personally  subject  to the
jurisdiction of such court, that the suit, action or proceeding is brought in an
inconvenient  forum or that the  venue of the  suit,  action  or  proceeding  is
improper.  Nothing  in this  Section  shall  affect  or limit any right to serve
process in any other manner permitted by law.

                                   ARTICLE II
                         DELIVERIES TO THE ESCROW AGENT

      2.1. Company Deliveries. On the Closing Date, the Company shall deliver to
the Escrow Agent the executed Purchase Agreement.

      2.2.  LAMCO  Deliveries.  On the Closing Date,  LAMCO shall deliver to the
Escrow Agent the Escrow  Shares,  the executed  Purchase  Agreement and ten (10)
medallion guaranteed stock powers executed in blank.

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<PAGE>

      2.3. Intention to Create Escrow Over the Escrow Shares.  LAMCO and Company
intend  that the  Escrow  Shares  shall be held in  escrow by the  Escrow  Agent
pursuant to this Agreement for their benefit as set forth herein.

      2.4.  Escrow  Agent to Deliver the Escrow  Shares.  The Escrow Agent shall
hold and  release  the  Escrow  Shares  only in  accordance  with the  terms and
conditions of this Agreement.

                                   ARTICLE III
                          RELEASE OF THE ESCROW SHARES

      3.1.  Release of Escrow.  Subject to the  provisions  of Section  4.2, the
Escrow Agent shall release the Escrow Shares as follows:

            (a) In accordance with joint written  instructions  executed by both
      the Company and the Seller and delivered to Escrow Agent.

            (b) Notwithstanding the above, upon receipt by the Escrow Agent of a
      final and non-appealable  judgment,  order,  decree or award of a court of
      competent  jurisdiction (a "Court Order"),  the Escrow Agent shall deliver
      the Escrow Shares and related  medallion  guaranteed stock powers executed
      in blank in  accordance  with the Court  Order.  Any Court  Order shall be
      accompanied  by an opinion of counsel for the party  presenting  the Court
      Order to the Escrow  Agent (which  opinion  shall be  satisfactory  to the
      Escrow  Agent) to the effect  that the court  issuing  the Court Order has
      competent   jurisdiction   and  that  the   Court   Order  is  final   and
      non-appealable.

      3.2. Acknowledgement of Company and LAMCO; Disputes. The Company and LAMCO
acknowledge  that the only terms and conditions upon which the Escrow Shares and
the  related  medallion  guaranteed  stock  powers  executed  in blank are to be
released  are set forth in Sections 3 and 4 of this  Agreement.  The Company and
LAMCO  reaffirm  their  agreement to abide by the terms and  conditions  of this
Agreement  with  respect to the  release of the  Escrow  Shares and the  related
medallion guaranteed stock powers executed in blank. Any dispute with respect to
the release of the Escrow  Shares and the  related  medallion  guaranteed  stock
powers  executed  in blank  shall be  resolved  pursuant  to  Section  4.2 or by
agreement between the Company and LAMCO.

                                   ARTICLE IV
                           CONCERNING THE ESCROW AGENT

      4.1. Duties and  Responsibilities  of the Escrow Agent. The Escrow Agent's
duties  and  responsibilities  shall  be  subject  to the  following  terms  and
conditions:

            (a) LAMCO and Company  acknowledge  and agree that the Escrow  Agent
(i)  shall not be  responsible  for or bound by,  and shall not be  required  to
inquire  into  whether  either  LAMCO or Company is  entitled  to receipt of the
Escrow  Shares and the related  medallion  guaranteed  stock powers  executed in
blank pursuant to any other agreement or otherwise; (ii) shall be obligated only
for the  performance  of such duties as are  specifically  assumed by the Escrow
Agent  pursuant to this  Agreement;  (iii) may rely on and shall be protected in
acting  or  refraining  from  acting  upon  any  written  notice,   instruction,
instrument,  statement,  request  or  document  furnished  to it  hereunder  and
believed by the Escrow Agent in good faith to be genuine and to have been signed
or presented by the proper person or party,  without being required to determine
the  authenticity  or correctness of any fact stated therein or the propriety or
validity or the service thereof; (iv) may assume that any person believed by the
Escrow Agent in good faith to be authorized to give notice or make any statement
or  execute  any  document  in  connection  with  the  provisions  hereof  is so
authorized;  (v) shall not be under any duty to give the property held by Escrow
Agent  hereunder  any  greater  degree of care than  Escrow  Agent gives its own
similar property; and (vi) may consult counsel satisfactory to Escrow Agent, the
opinion of such counsel to be full and complete  authorization and protection in
respect of any action  taken,  suffered or omitted by Escrow Agent  hereunder in
good faith and in accordance with the opinion of such counsel.

                                       3
<PAGE>

            (b) LAMCO and Company  acknowledge  that the Escrow  Agent is acting
solely as a stakeholder  at their request and that the Escrow Agent shall not be
liable for any action taken by Escrow Agent in good faith and believed by Escrow
Agent to be  authorized  or within the rights or powers  conferred  upon  Escrow
Agent by this  Agreement.  LAMCO and Company,  jointly and  severally,  agree to
indemnify and hold harmless the Escrow Agent and any of Escrow Agent's partners,
employees,  agents and  representatives  for any  action  taken or omitted to be
taken by Escrow Agent or any of them hereunder, including the reasonable fees of
outside  counsel and other costs and  expenses of defending  itself  against any
claim or liability under this Agreement,  except in the case of gross negligence
or willful misconduct on Escrow Agent's part committed in its capacity as Escrow
Agent under this Agreement.  The Escrow Agent shall owe a duty only to LAMCO and
Company under this Agreement and to no other person.

            (c) LAMCO and Company  jointly and severally  agree to reimburse the
Escrow Agent for outside counsel fees, but only to the extent jointly authorized
by  Lamco  and the  Company  hereunder  and  incurred  in  connection  with  the
performance of its duties and responsibilities hereunder.

            (d)  The  Escrow  Agent  may at any  time  resign  as  Escrow  Agent
hereunder by giving five (5) days prior written  notice of  resignation to LAMCO
and the Company.  Prior to the effective date of the resignation as specified in
such notice, LAMCO and Company will issue to the Escrow Agent joint instructions
authorizing  delivery of the Escrow Shares and the related medallion  guaranteed
stock powers  executed in blank to a substitute  escrow agent  selected by LAMCO
and  Company.  If no successor  escrow agent is named by LAMCO and Company,  the
Escrow Agent may apply to a court of competent  jurisdiction in the State of New
York for  appointment  of a successor  escrow  agent,  and to deposit the Escrow
Shares and the related medallion  guaranteed stock powers executed in blank with
the clerk of any such court.

            (e) The Escrow Agent does not have and will not have any interest in
the Escrow Shares and the related medallion  guaranteed stock powers executed in
blank, but is serving only as escrow agent, having only possession thereof.  The
Escrow  Agent  shall not be liable  for any loss  resulting  from the  making or
retention of any investment in accordance with this Escrow Agreement.

                                       4
<PAGE>

            (f) This Agreement sets forth  exclusively  the duties of the Escrow
Agent  with  respect to any and all  matters  pertinent  thereto  and no implied
duties or obligations shall be read into this Agreement.

            (g) The Escrow  Agent shall be  permitted  to act as counsel for the
Company  in any  dispute  as to the  disposition  of the  Escrow  Shares and the
related  medallion  guaranteed  stock  powers  executed  in blank,  in any other
dispute  between  LAMCO and  Company,  whether or not the  Escrow  Agent is then
holding the Escrow  Shares and the related  medallion  guaranteed  stock  powers
executed in blank and continues to act as the Escrow Agent hereunder,  provided,
however,  in so acting as counsel for the  Company,  the Escrow  Agent shall not
breach any of the terms hereof or its obligations hereunder and any and all fees
changed for its services as Escrow Agent  hereunder shall be paid by the Company
and not LAMCO.

            (h) The provisions of this Section 4.1 shall survive the resignation
of the Escrow Agent or the termination of this Agreement.

      4.2. Dispute Resolution:  Judgments.  Resolution of disputes arising under
this Agreement shall be subject to the following terms and conditions:

            (a) If  any  dispute  shall  arise  with  respect  to the  delivery,
ownership,  right of  possession  or  disposition  of the Escrow  Shares and the
related  medallion  guaranteed  stock powers executed in blank, or if the Escrow
Agent shall in good faith be uncertain as to its duties or rights hereunder, the
Escrow Agent shall be authorized,  without  liability to anyone,  to (i) refrain
from taking any action other than to continue to hold the Escrow  Shares and the
related medallion guaranteed stock powers executed in blank pending receipt of a
joint instruction from LAMCO and Company,  or (ii) deposit the Escrow Shares and
the related  medallion  guaranteed stock powers executed in blank with any court
of competent  jurisdiction  in the State of New York,  in which event the Escrow
Agent  shall give  written  notice  thereof to LAMCO and the  Company  and shall
thereupon be relieved and discharged  from all further  obligations  pursuant to
this Agreement.  The Escrow Agent may, but shall be under no duty to,  institute
or defend  any legal  proceedings  which  relate to the  Escrow  Shares  and the
related  medallion  guaranteed  stock powers executed in blank. The Escrow Agent
shall  have  the  right  to  retain  counsel  if  it  becomes  involved  in  any
disagreement,  dispute or litigation  on account of this  Agreement or otherwise
determines that it is necessary to consult counsel.

            (b) The Escrow Agent is hereby  expressly  authorized to comply with
and obey any Court  Order.  In case the Escrow  Agent obeys or  complies  with a
Court Order, the Escrow Agent shall not be liable to LAMCO and Company or to any
other person, firm, corporation or entity by reason of such compliance.

                                       5
<PAGE>

                                    ARTICLE V
                                 GENERAL MATTERS

      5.1.  Termination.  This escrow  shall  terminate  upon the release of the
Escrow  Shares and the related  medallion  guaranteed  stock powers  executed in
blank or at any time upon the agreement in writing of LAMCO and Company.

      5.2. Notices. All notices,  demands,  requests,  consents,  approvals, and
other  communications  required or permitted  hereunder shall be in writing and,
unless  otherwise  specified  herein,  shall  be  (i)  personally  served,  (ii)
deposited  in the mail,  registered  or  certified,  return  receipt  requested,
postage  prepaid,  (iii) delivered by reputable air courier service with charges
prepaid, or (iv) transmitted by hand delivery, telegram, or facsimile, addressed
as set forth below or to such other  address as such party shall have  specified
most recently by written notice. Any notice or other  communication  required or
permitted to be given hereunder shall be deemed effective (a) upon hand delivery
or  delivery  by  registered  or  certified  mail or  facsimile,  with  accurate
confirmation  generated by the transmitting facsimile machine, at the address or
number  designated  below (if delivered on a business day during normal business
hours where such notice is to be received),  or the first business day following
such delivery (if delivered  other than on a business day during normal business
hours where such notice is to be  received)  or (b) on the second  business  day
following  the date of  mailing  by  express  courier  service,  fully  prepaid,
addressed to such address,  or upon actual  receipt of such  mailing,  whichever
shall first occur. The addresses for such communications shall be:

      (a)   If to the Company, to:

            National Investment Manages Inc.
            420 Lexington Avenue, Suite 2420
            New York, New York  10170
            Attn:  Leonard Neuhaus, COO/CFO
            Phone:  (212) 389-7832
            Facsimile: (212) 389-7831

      With a copy to:

            Sichenzia Ross Friedman Ference LLP
            1065 Avenue of the Americas, 21st Floor
            New York, New York 10018
            Attn: Gregory Sichenzia, Esq.
            Phone: (212) 930-9700
            Facsimile: (212) 930-9725

      (b)   If to LAMCO,  to: the addresses and fax numbers listed on Schedule A
            hereto

            LAMCO Group, Inc.
            11801 Coniston Way
            Windemere, Florida 34786
            Attn:  Nicholas J. Lamoriello, President
            Phone: (407) 531-5500
            Facsimile:  (407) 909-9487

                                       6
<PAGE>

      Copy to:

            E. Colby Cameron, Esq.
            Cameron & Mittleman LLP
            56 Exchange Terrace
            Providence, Rhode Island 02903
            Phone: (401) 331-5700
            Facsimile: (401) 331-5787

      (d)   If to the Escrow Agent, to:

            Sichenzia Ross Friedman Ference LLP
            1065 Avenue of the Americas, 21st Floor
            New York, New York 10018
            Attn: Gregory Sichenzia, Esq.
            Phone: (212) 930-9700
            Facsimile: (212) 930-9725

or to such other  address as any of them shall give to the others by notice made
pursuant to this Section 5.2.

      5.3. Assignment;  Binding Agreement.  Neither this Agreement nor any right
or  obligation  hereunder  shall be  assignable  by any party  without the prior
written consent of the other parties  hereto.  This Agreement shall enure to the
benefit of and be binding  upon the parties  hereto and their  respective  legal
representatives, successors and assigns.

      5.4.  Invalidity.  In the  event  that  any one or more of the  provisions
contained  herein,  or the  application  thereof  in any  circumstance,  is held
invalid,  illegal, or unenforceable in any respect for any reason, the validity,
legality and  enforceability of any such provision in every other respect and of
the  remaining  provisions  contained  herein  shall not be in any way  impaired
thereby,  it being intended that all of the rights and privileges of the parties
hereto shall be enforceable to the fullest extent permitted by law.

      5.5. Counterparts/Execution.  This Agreement may be executed in any number
of counterparts and by different  signatories  hereto on separate  counterparts,
each of which,  when so  executed,  shall be deemed  an  original,  but all such
counterparts  shall constitute but one and the same  instrument.  This Agreement
may  be  executed  by  facsimile   transmission   and   delivered  by  facsimile
transmission.

                  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

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<PAGE>

      5.6  Agreement.  Each  of the  undersigned  states  that he has  read  the
foregoing Escrow Agreement and understands and agrees to it.

                                          NATIONAL INVESTMENT MANAGERS INC.

                                          By: /s/ Leonard A. Neuhaus
                                              Name:  Leonard A. Neuhaus
                                              Title: COO/CFO

                                          THE LAMCO GROUP, INC.

                                          By: /s/ Nicholas J. Lamoriello
                                              --------------------------
                                              Nicholas J. Lamoriello,
                                              President

                                          SICHENZIA ROSS FRIEDMAN FERENCE LLP

                                          By: /s/ Gregory Sichenzia
                                              Gregory Sichenzia,
                                              Partner

                                       8CROSS SALES AGREEMENT

      This Cross Sales Agreement (the  "Agreement") is entered into this 3rd day
of  October  2006  (the  "Effective  Date"),  by and among  National  Investment
Managers Inc. (the "NIM") and THE LAMCO GROUP, INC. ("Seller").

                              W I T N E S S E T H:

      WHEREAS, the Seller owned an aggregate of fifty-five (55) shares of common
stock,  $1.00 par value, of LAMORIELLO & CO., INC. ("LCI"),  an aggregate of one
thousand  (1,000) shares of common stock,  $1.00 par value,  of CIRCLE  PENSION,
INC.  ("CPI"),  and an  aggregate of one hundred  (100) shares of common  stock,
$1.00 par value, of SOUTHEASTERN PENSION SERVICES, INC. (the "SPSI" and together
with  LCI and CPI,  the  Companies),  which  ownership  represented  100% of the
outstanding equity interest of the Companies.

      WHEREAS, the Seller, Nicholas J. Lamoriello and NIM have entered into that
certain  Stock  Purchase  Agreement  dated  September  27,  2006 (the  "Purchase
Agreement")  pursuant  to which  NIM  acquired  100% of the  outstanding  equity
interest of the Companies (the "Transaction").

      WHEREAS,   an  affiliate  of  Seller,   Lamco  Advisory   Services,   Inc.
("Advisory") is in the business of providing  investment  advisory and fiduciary
services.

      WHEREAS,  as further inducement to enter into the Transaction,  Seller and
NIM have agreed to enter into this Agreement.

      NOW, THEREFORE,  in consideration of the mutual covenants,  payments,  and
agreements  set forth in this  Agreement,  NIM and the  Seller  intending  to be
legally bound thereby,  and hereby  warranting  that they each have the capacity
and  authority  to  execute  this  Agreement,  it is  agreed  by and  among  the
undersigned parties, as follows:

      1. Cross  Sales.  As further  inducement  for  entering  into the Purchase
Agreement, the parties agree as follows:

            (a)  Seller   agrees  to  market  and  sell  the   retirement   plan
administration   services  (the  "Administration   Services")  provided  by  the
Companies for a period of three (3) years (the "Term"). Seller will use its best
commercial efforts in selling and marketing Administration Services on behalf of
the Companies.  During the Term,  Seller agrees that it will not market and sell
Administration  Services for any party other than the  Companies.  Seller agrees
and  acknowledges  that the Companies  will determine the pricing of each of the
Administration  Services to be sold by Seller and what  Administration  Services
are to be marketed and sold at any specific  time.  All costs incurred by Seller
in connection with the marketing and sale of the  Administration  Services shall
be the sole  responsibility  of Seller.  NIM  acknowledges  and agrees  that the
Seller  shall not be  required  to  devote  its full  time to the  provision  of
services  hereunder  and that such services will be provided on a schedule to be
determined by Seller, subject to its availability and prior commitments.

                                       1
<PAGE>

            (b) NIM  agrees  to  market  and sell the  fiduciary  services  (the
"Fiduciary Services") provided by Advisory during the Term. During the Term, NIM
will not market and sell  fiduciary  services for any party other than Advisory.
NIM will use its best  commercial  efforts in selling  and  marketing  Fiduciary
Services on behalf of Advisory.  NIM agrees and acknowledges  that Advisory will
determine the pricing of each of the Fiduciary Services to be sold by NIM on its
behalf and what services are to be marketed and sold at any specific  time.  All
costs incurred by NIM in connection with the marketing and sale of the Fiduciary
Services shall be the sole responsibility of NIM. Seller acknowledges and agrees
that NIM  shall not be  required  to devote  its full time to the  provision  of
services  hereunder  and that such services will be provided on a schedule to be
determined by NIM, subject to its availability and prior commitments.

            (c) Seller  agrees that certain of  Advisory's  investment  advisory
products  shall be made  available to NIM for use on NIM's  investment  advisory
platform.

      2. Compensation.

            (a) As  consideration  for the  services to be  rendered  under this
Agreement by Seller,  NIM shall pay Seller a percentage of the fees collected by
the Companies  with respect to  Administration  Services  accounts  solicited by
Seller  on  behalf  of the  Companies,  as  follows:  25% of all  fees  actually
collected  by the  Companies  during  the  first  year of each  such new  client
account; and 10% of fees actually collected by the Companies,  during the second
and third year after the origination of each such new client account.

            (b)  As  consideration  for  services  rendered  by NIM  under  this
Agreement,  Seller shall pay NIM 30% of all fees actually  collected by Advisory
with respect to new Fiduciary  Services  accounts  solicited by NIM on behalf of
Advisory during the first three (3) years of each such new client account.

            (c) The parties  agree that Seller shall make certain of  Advisory's
investment advisory products available to NIM at compensation rates to be agreed
upon.

      3. Binding  Agreement.  The terms of this  Agreement  are binding upon and
inure to the benefit of each of the parties hereto, their respective successors,
assigns, dependents, and all other related persons, affiliates or associates.

      4. Headings. The captions of the paragraphs and sections of this Agreement
are provided solely for convenience, and are not intended to, and in fact, shall
not affect the substance or meaning of this Agreement.

                                       2
<PAGE>

      5.  Representation.  Each of the parties hereto  represents  that each has
read and fully understands each of the provisions as contained  herein,  and has
been afforded the  opportunity  to review same with his attorney of choice;  and
further that each of the parties  hereto  represents  that each and every one of
the  provisions  contained in this Agreement is fair and not  unconscionable  to
either party.

      6. Counterparts/Execution. This Agreement may be executed in any number of
counterparts and by the different  signatories hereto on separate  counterparts,
each of which,  when so  executed,  shall be deemed  an  original,  but all such
counterparts  shall constitute but one and the same  instrument.  This Agreement
may be executed by facsimile signature and delivered by facsimile  transmission.
7. Entire Agreement; Assignment. This Agreement and other documents delivered in
connection  herewith  represent the entire agreement  between the parties hereto
with respect to the subject  matter  hereof and may be amended only by a writing
executed   by  all   parties.   Neither  NIM  nor  Seller  have  relied  on  any
representations not contained or referred to in this Agreement and the documents
delivered herewith.  No right or obligation of either party shall be assigned by
that party without prior notice to and the written consent of the other party.

      8. Law Governing this  Agreement.  This Agreement shall be governed by and
construed in accordance with the laws of the State of New York without regard to
principles of conflicts of laws.  Any action brought by either party against the
other  concerning  the  transactions  contemplated  by this  Agreement  shall be
brought only in the state courts of New York or in the federal courts located in
the state of New York. The parties and the individuals  executing this Agreement
and other agreements  referred to herein or delivered in connection  herewith on
behalf of NIM agree to submit to the jurisdiction of such courts and waive trial
by jury. The prevailing  party shall be entitled to recover from the other party
its  reasonable  attorney's  fees and costs.  In the event that any provision of
this  Agreement  or any other  agreement  delivered  in  connection  herewith is
invalid or unenforceable  under any applicable statute or rule of law, then such
provision  shall  be  deemed  inoperative  to the  extent  that it may  conflict
therewith  and shall be deemed  modified to conform with such statute or rule of
law. Any such provision which may prove invalid or  unenforceable  under any law
shall not affect the validity or  enforceability  of any other  provision of any
agreement.

                  [Remainder of Page Intentionally Left Blank]

                                       3
<PAGE>

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

NATIONAL INVESTMENT MANAGERS INC.         THE LAMCO GROUP, INC.

By:    /s/ Leonard A. Neuhaus             By: /s/ Nicholas J. Lamoriello
Name:  Leonard A. Neuhaus                     Nicholas J. Lamoriello
Title: COO/CFO

              [SIGNATURE PAGE TO CROSS SALES AGREEMENT BY AND AMONG
           NATIONAL INVESTMENT MANAGERS INC. AND THE LAMCO GROUP, INC.
                             DATED OCTOBER 3, 2006]

                                       4

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