Document:

MEMORANDUM OF AGREEMENT
                             -----------------------

        Whereas Lechters and Local 99 are partners to a union contract which was
effective July 1, 1997 to June 30, 2000 as extended for an additional  period to
permit continued negotiations for a renewal agreement; and

        Whereas,  the parties have agreed to renew and extend the union contract
covering the office employees and desire to incorporate the terms of the renewal
in this memorandum of agreement.

        Now, therefore it is agreed:
1.      The office contract  is  renewed and  extended from July 1, 2000 to June
        30, 2003 except as modified hereby.

2.      Company   proposal   regarding   paragraph 7,   paragraph  36  shall  be
        incorporated (attached hereto)

3.      The post probationary increase shall be changed from $0.20 to $0.30

4.      Election  day will be  converted  to a personal  day which  can be  used
        for day after  Thanksgiving  subject to scheduling  in  accordance  with
        the Company business needs and requirements.

5.      Vacation time to be modified as per attached proposal for paragraph 14.

6.      Minimum Hiring start rates to be adjusted as follows:

        $7.50/hr. for mailroom; $8.50/hr for all others (plus $0.30/hr. after
        probation)

7.      Benefit Fund Contribution to be adjusted as per attached schedule:

                   Lechters Office Benefit Fund Contributions

(1)     The increase in  contributions  to the Local 99 H & W Fund, as set forth
        in paragraph (3) below, is inclusive of an increase of 1/2 % towards the
        employee's  obligation to contribute to the Eastern  States Welfare Fund
        for the  improved  prescription  plan  and  coverage  by that  fund  for
        retirees.  The  required  contribution  for coverage is forwarded by the
        Local 99 H & W Fund from the contribution received from the Employer.

(2)     Effective 9/1/99 Contributions to the  retirement fund  shall be reduced
        from 9% to 6%.  Effective 7/1/00  contributions  to the  retirement (NRF
        2000) fund will be capped at 35 hours/wk/Employee.

(3)     Contributions  to  the  Local  99  H & W  Fund  shall  be  increased  by
        1.5% (to 21 - 15%) effective 7/1/00. Waiting period eligibility shall be
        reduced  by 3 months  effective  7/1/00  (individual)  and 6 months  for
        family.

(4)     The  retirement  contribution   shall   reflect  continued   payment  of
        2.2%  for the  existing  plan and  3.8%  for  participation  in NRF 2000
        effective  1/1/00. The 3.8% shall be converted to the  following  hourly
        contribution  rates  effective  7/1/00 - .43; 7/1/01 - .45; and 7/1/02 -
        .47.

8.      Wage adjustments to be implemented as follows:

        7/1/00  -  .50/hr           7/1/01  -  .50/hr.         7/1/02  -  .50/hr

9.      Labor  Management  Committee to be established for office to meet twice/
        year.  Equal  number  of  union  and  management representation to be on
        Committee.

        For the Company                             For the Union

        ----------------------------                ----------------------------
        Janice Cartwright                           Luis M. Ramos

                                                    ---------------------------
                                                    Charles Waiters

                                                    ---------------------------
                                                    Jacqueline Stuart

Dated:  August 8, 2000

Service / Seniority (proposal)
Paragraph 7 (a)

An employee rehired within six (6) months of the date that his or her employment
was terminated,  where such termination was voluntary, shall be entitled to full
credit  for the time of  previous  service  with the  Employer  with  respect to
seniority  and full credit after the  expiration  of one (1) year of  additional
service for the time of  previous  service  with the  Employer  with  respect to
vacation eligibility. An employee rehired after the expiration of six (6) months
after the date that his or her employment was terminated, where such termination
was voluntary, shall not receive any credit for past service with Employer.

Leave of Absence (proposed)
Paragraph 7 (b)

Leave of absence in case of  sickness,  pregnancy,  jury duty or Union  business
shall be granted for  reasonable  periods.  Other leaves of absence for personal
needs may be requested and shall not be unreasonably withheld.

To  be  eligible  for  bereavement   leave  with  pay,  an  employee  must  have
satisfactorily completed six (6) months of service. At least five (5) days leave
of absence  with pay shall be  granted in case of death in a worker's  immediate
family which includes  spouse,  parent and  grandparent,  child and  grandchild,
sister and  brother.  At least two (2) days  leave of absence  with pay shall be
granted in case of death of a worker's father-in-law or mother-in-law.

Two days leave of absence  with pay shall be granted to a covered male worker in
connection  with  the  birth  of his  child.  Proof  of such  occurrence  may be
required.

The employment rights of veterans,  reservists and members of the National Guard
guaranteed by law are incorporated into this Agreement.

Employees  of the  Employer  who may be called upon to perform  business for the
Union which requires  absence from duty with the Employer,  shall,  upon written
notice to the Employer,  be allowed to absent themselves for a reasonable period
of time.

Family and Medical Leave Act (FMLA).  Employees eligible to receive family leave
under the  federal  FMLA or the New  Jersey  Family  Leave Act shall be  granted
leaves of absence in accordance with the terms of those statutes.

An employee  shall not be required  to use his/her  accrued or current  vacation
time in order to take FMLA leave for a personal  illness or disability.  For all
other purposes,  an employee must use his/her current  vacation time only, which
time will run concurrently with an employee's FMLA entitlement. An employee must
use his/her  current  accrued  vacation  entitlement  for any non-FMLA  personal
leave. Non-FMLA personal leave has a maximum of 30 days.

Disability  leave shall run  concurrently  with any FMLA  entitlement;  26 weeks
maximum leave.

For the  purpose of  adjusting  any  inequities,  the  Employer or the Union may
request a review of a worker's  continuing status of employment when an extended
layoff period or an extended leave of absence exists.

Vacation Time (proposal)
Paragraph 14

To be  eligible for  full vacation benefits, an  employee must work 660 hours in
the prior year. If an employee works less than 660 hours but more than 310 hours

                                      - 1 -

<PAGE>

he shall  receive vacation  prorated to the number of hours actually worked.  If
an employee works  less  than 310 hours,  they are not entitled  to vacation for
that year.

There shall be no  carrying  forward of vacation  beginning  with 2000  vacation
accruals.  All vacation  earned in 2000 must be used by December  31, 2000.  All
pre-2000accrued  vacation may be used without  deadline.  Current vacation to be
charged against entitlement before pre-2000 accrued vacation entitlement.

No Discrimination (proposal)
Paragraph 36

There shall be no discrimination in hiring, promotions, discipline, discharge or
in any term and condition of employment because of race, creed, color,  national
origin, sex age, handicap,  disability or religion.  Further, the Company agrees
that  it  will  not  violate  the  following  statutes  in  hiring,  promotions,
discipline, discharge or in any term or condition of employment.

The Americans with Disabilities Act, 42 U.S.C. `12101, et seq.; the Consolidated
Omnibus  Budget  Reconciliation  Act, 29  U.S.C. ` 1161, et seq.;  the  Employee
Retirement  Income  Security Act of 1974, as  amended, 29 U.S.C. `1001, et seq.;
the Conscientious Employee  Protection  Act, N.J.S.A. 34:19-1, et seq.; the  New
Jersey   Workers   Compensation   Act,   N.J.S.A.  34:15-1,  et  seq.;  the  Age
Discrimination in  Employment  Act, 29 U.S.C. ` 621, et seq.; the Reconstruction
Era Civil Rights act, as amended, 42 U.S.C. `1981, et seq.; the Civil Rights Act
of 1991, as amended, 42 U.S.C. ` 1981a, et  seq.;  the  Family and Medical Leave
Act, 29 U.S.C. `2601, et seq.; The Fair Labor Standards Act, 29 U.S.C. ` 201, et
seq.; Title VII of the Civil rights  Act of 1964, as amended, 42 U.S.C. ` 2000e,
et seq.; the  New  Jersey  Law Against Discrimination, N.J.S.A. 10:5-1, et seq.;
and/or any other federal, state or  local  statutes, laws, rules and regulations
pertaining to employment, as well as any and all claims under  state and federal
contract or tort law, including breach of contract  and  breach of a covenant of
good faith and fair dealing.

The Union, on behalf of the Union and all members of the bargaining unit, agrees
that the exclusive  remedy for  violations of the agreements set forth above and
for  violations of the statutes  listed above shall be either (1) the submission
of a  grievance  to the  grievance  procedure  herein,  and if not  satisfactory
resolved,  the  submission of the grievance to the  arbitration  provisions  and
procedures  set  forth in this  agreement;  or (2)  proceeding  to file a charge
and/or complaint before the appropriate state or federal agency or court.

The Union, on behalf of the Union and on behalf of all members of the bargaining
unit,  further agrees that once the employee  and/or the Union elects either (1)
or (2), above, as the exclusive remedy for alleged  violations of the agreements
set forth above and for  violations  of the  statutes  listed  above,  the Union
and/or the  employee  waives its  rights to proceed  under the other  remedy set
forth in (1) and (2), above.

                                       -2-EXHIBIT 10(a) Amendment Number Six to the Loan and Security Agreement by and
between Congress Financial Corporation (Southern) as Lender and the Registrant,
One Price Clothing Stores, Inc. of Puerto Rico and One Price Clothing - U.S.
Virgin Islands, Inc. as Borrowers dated June 30, 2000.

                                      AMENDMENT NO. 6 TO FINANCING AGREEMENTS

                                                                June 30, 2000

One Price Clothing Stores, Inc.
1875 East Main Street
Duncan, South Carolina 29334

One Price Clothing of Puerto Rico, Inc.
1875 East Main Street
Duncan, South Carolina 29334

Gentlemen:

<PAGE>

         Congress  Financial  Corporation  (Southern)   ("Lender"),   One  Price
Clothing Stores,  Inc. ("One Price") and One Price Clothing of Puerto Rico, Inc.
("One Price PR";  and  together  with One Price,  individually  referred to as a
"Borrower"  and  collectively  as the  "Borrowers")  have  entered  into certain
financing arrangements pursuant to the Loan and Security Agreement,  dated March
25, 1996, between the Lender and Borrowers (the "Loan Agreement"), as amended by
Amendment No. 1 to Financing Agreements,  dated May 16, 1997, Amendment No. 2 to
Financing  Agreements,  dated  June  17,  1997,  Amendment  No.  3 to  Financing
Agreements,  dated February 19, 1998,  Amendment No. 4 to Financing  Agreements,
dated  January 31, 1999,  and  Amendment  No. 5 to Financing  Agreements,  dated
February  23,  2000  together  with  various  other  agreements,  documents  and
instruments  at any time executed  and/or  delivered in connection  therewith or
related  thereto (as the same now exist or may  hereafter be amended,  modified,
supplemented,   extended,  renewed,  restated  or  replaced,  collectively,  the
"Financing  Agreements").  All  capitalized  terms  used  herein  and not herein
defined shall have the meanings given to them in the Financing Agreements.

         Borrowers  have  requested  that Lender agree (a) to a reduction of the
applicable  interest  rates,  (b) to reduce the unused line and letter of credit
fees,  (c) extend the term of the  Financing  Agreements,  and (d) amend certain
other provisions of the Loan Agreement.  Lender is willing to do so on the terms
and conditions and to the extent set forth herein.

         In consideration of the foregoing,  the mutual agreements and covenants
contained herein and other good and valuable  consideration,  the parties hereto
agree as follows:

           1.  Definitions. (a)  The definition of "Collateral Access Agreement"
               is hereby added to Section 1 of the Loan Agreement as follows:

                           ""Collateral   Access   Agreement"   shall   mean  an
                  agreement in writing,  in form and substance  satisfactory  to
                  Lender,  from any lessor of premises to any  Borrower,  or any
                  other  person  to whom any  Collateral  (including  Inventory,
                  Equipment,  bills of  lading or other  documents  of title) is
                  consigned or who has  custody,  control or  possession  of any
                  such  Collateral  or is otherwise the owner or operator of any
                  premises on which any of such Collateral is located,  pursuant
                  to which such lessor,  consignee or other person,  inter alia,
                  acknowledges the first priority security interest of Lender in
                  such  Collateral,  agrees  to waive  any and all  claims  such
                  lessor,  consignee  or other  person  may,  at any time,  have
                  against such  Collateral,  whether for processing,  storage or
                  otherwise,  and  agrees to permit  Lender  access  to, and the
                  right to remain on, the premises of such lessor,  consignee or
                  other  person so as to exercise  Lender's  rights and remedies
                  and otherwise deal with such Collateral and in the case of any
                  person who at any time has custody,  control or  possession of
                  any  bills of lading or other  documents  of title,  agrees to
                  hold such  bills of lading or other  documents  as bailee  for
                  Lender and to follow all  instructions  of Lender with respect
                  thereto."

                   (b) The  definition  of "Interest  Rate" set forth at Section
                       1.33 of the Loan Agreement is amended in its entirety  to
                       read as follows:

                  "1.33  "Interest Rate" shall mean:

                           (a) subject to clauses (b) and (c) below, as to Prime
                  Rate Loans, a rate of one-quarter  (1/4%) percent per annum in
                  excess of the Prime  Rate and as to  Eurodollar  Rate  Loans a
                  rate of two (2 %) percent per annum in excess of the  Adjusted
                  Eurodollar  Rate (based on the Eurodollar  Rate applicable for
                  the  Interest  Period  selected by Borrower as in effect three
                  (3)  Business  Days after the date of receipt by Lender of the
                  request  of  Borrower  for  such   Eurodollar  Rate  Loans  in
                  accordance with the terms hereof,  whether such rate is higher
                  or  lower  than  any  Eurodollar  Rate  previously  quoted  to
                  Borrower); provided, that;

                           (b)  effective  as of July 1, 2000,  "Interest  Rate"
                  shall mean, the Prime Rate, as to Prime Rate Loans,  and as to
                  Eurodollar  Rate Loans,  a rate of one and  one-half (1 1/2 %)
                  percent per annum in excess of the  Adjusted  Eurodollar  Rate
                  (based on the  Eurodollar  Rate  applicable  for the  Interest
                  Period  selected by Borrower as in effect  three (3)  Business
                  Days  after the date of  receipt  by Lender of the  request of
                  Borrower for such Eurodollar Rate Loans in accordance with the
                  terms  hereof,  whether  such rate is higher or lower than any
                  Eurodollar Rate previously quoted to Borrower);  except, that,
                  if at the end of (i) any fiscal  year of One Price or (ii) any
                  second fiscal quarter of One Price,  the Adjusted Net Worth of
                  One Price and its  Subsidiaries  calculated on a  consolidated
                  basis,  for  any  such  period  as set  forth  in the  audited
                  consolidated   financial   statements   of  Borrower  and  its
                  Subsidiaries for such period delivered to Lender in accordance
                  with  Section  9.6  hereof,  shall be less  than  $40,000,000,
                  effective  as of the first day of the month  after the receipt
                  by Lender of the such  financial  statements  of One Price and
                  its  Subsidiaries  for such period,  the  Interest  Rate shall
                  increase to the rates set forth in clause (a) above; and

                           (c)   notwithstanding   anything   to  the   contrary
                  contained herein, the Interest Rate shall mean the rate of two
                  (2%) percent per annum in excess of the Prime Rate as to Prime
                  Rate  Loans  and the  rate of  three  and one  -half  (3 1/2%)
                  percent per annum in excess of the Adjusted Eurodollar Rate as
                  to Eurodollar Rate Loans, at Lender's option,  without notice,
                  (i) for the period on and after (A) the date of termination or
                  non-renewal  hereof and until such time as all Obligations are
                  indefeasibly  paid  in  full  (notwithstanding  entry  of  any
                  judgment  against  either  Borrower),  or (B) the  date of the
                  occurrence of any Event of Default or act,  condition or event
                  which with notice or passage of time or both would  constitute
                  an Event of Default,  and for so long as such Event of Default
                  or other event is  continuing as determined by Lender and (ii)
                  on the Loans at any time  outstanding in excess of the amounts
                  available to the respective Borrowers under Section 2 (whether
                  or not such  excess(es),  arise or are  made  with or  without
                  Lender's knowledge or consent and whether made before or after
                  an Event of Default)."

           2.  Revolving Loans.   Section 2.1(a) of the Loan Agreement is hereby
               deleted in its entirety and the following substituted therefor:

                           "(a)  Subject  to, and upon the terms and  conditions
                  contained  herein,  Lender agrees to make  Revolving  Loans to
                  each Borrower  from time to time in amounts  requested by such
                  Borrower  (or by One Price on behalf One Price PR),  up to the
                  amount equal to the sum of: (i) the least of: (A) eighty (80%)
                  percent  of  the  Value  of the  Eligible  Inventory  of  such
                  Borrower, or (B) eighty-five (85%) percent of the Net Recovery
                  Cost  Percentage  multiplied  by  the  Cost  of  the  Eligible
                  Inventory of such Borrower,  or (C) eighty-five  (85%) percent
                  of the Net Recovery Retail Percentage multiplied by the Retail
                  Value of the Eligible  Inventory of such Borrower,  minus (ii)
                  any Availability Reserves."

           3.  Unused Line Fee.      Section 3.4 of the Loan Agreement is hereby
               amended in its entirety to read as follows:

                           "3.4 Unused Line Fee.  Borrowers  shall pay to Lender
                  monthly an unused line fee at a rate equal to  one-quarter  of
                  one (.25%)  percent  per annum  calculated  upon the amount by
                  which the  Inventory  Loan Limit  exceeds  the  average  daily
                  principal  balance  of the  outstanding  Revolving  Loans  and
                  Letter  of  Credit   Accommodations   during  the  immediately
                  preceding  month (or part thereof)  while this Agreement is in
                  effect and for so long  thereafter  as any of the  Obligations
                  are  outstanding,  which fee shall be payable on the first day
                  of each month in arrears."

           4.  Merger.       (a) Section 9.7 (a) of the Loan Agreement is hereby
               deleted in its entirety and the following substituted therefor:

                           "(a)  merge  into  or with or  consolidate  with  any
                  Person or permit  any  other  Person to merge  with or into or
                  with or consolidate with it except that:

                                     (i) any Subsidiary of One Price (other than
                  One Price PR) may, after prior written notice to Lender, merge
                  or consolidate with any other Subsidiary of One Price;

                                     (ii)   any    Subsidiary   of   One   Price
                  incorporated  in any State of the United States of America may
                  merge with and into or consolidate  with One Price,  provided,
                  that,  each  of  the  following  conditions  is  satisfied  as
                  determined by Lender:  (A) Lender shall have received not less
                  than five (5) days prior  written  notice of the  intention of
                  One Price to so merge or consolidate and such information with
                  respect thereto as Lender may request, (B) as of the effective
                  date of the merger or  consolidation  and after giving  effect
                  thereto,  no Event of Default or act, condition or event which
                  with  notice or passage of time or both  would  constitute  an
                  Event of  Default,  shall exist or have  occurred,  (C) Lender
                  shall have received true,  correct and complete  copies of all
                  agreements, documents and instruments relating to such merger,
                  including, but not limited to, the certificate or certificates
                  of merger as filed with each appropriate Secretary of State or
                  other Governmental  Authority,  (D) the surviving entity shall
                  immediately  upon the  effectiveness  of the merger  expressly
                  confirm  in  writing  pursuant  to an  agreement,  in form and
                  substance  reasonably  satisfactory to Lender,  its continuing
                  liability  in  respect  of  the   Obligations   and  Financing
                  Agreements  and  execute and  deliver  such other  agreements,
                  documents and instruments as Lender may reasonably  request in
                  connection   therewith,   (E)  the  surviving   entity  shall,
                  immediately before and immediately after giving effect to such
                  transaction  or series of  transactions  have an Adjusted  Net
                  Worth  (including,   without   limitation,   any  Indebtedness
                  incurred or anticipated  to be incurred in connection  with or
                  in  respect  of such  transaction  or series of  transactions)
                  equal to or greater than the Adjusted Net Worth of each of the
                  entities  involved  in such merger  immediately  prior to such
                  transaction  or series of  transactions,  and (F) each Obligor
                  shall   ratify  and  confirm  that  its   guarantees   of  the
                  Obligations  shall apply to the Obligations as assumed by such
                  surviving entity,

                                    (iii) One  Price may merge  with and into or
                  consolidate  with any  other  corporation  which has its chief
                  executive  office and  substantially  all of its assets in the
                  United  States,   provided,   that,   each  of  the  following
                  conditions is satisfied as determined by Lender:

                            (A) Lender shall have  received not less than thirty
                  (30) days' prior  written  notice of the  proposed  merger and
                  such  information  with respect thereto as Lender may request,
                  including (1) the proposed  date of the merger,  (2) the name,
                  address,    jurisdiction   of   incorporation    and   federal
                  identification  number  of the  person  with whom One Price is
                  merging,  (3) a  list  and  description  of the  assets  to be
                  acquired  pursuant to such merger  (including the addresses of
                  the  locations  thereof and whether such  locations are owned,
                  leased or operated by a third party, and if leased or operated
                  by a third party,  the name and address of the lessor or third
                  party),  and  (4)  the  total  consideration  to  be  paid  in
                  connection  with such merger (and the terms of payment of such
                  consideration),

                            (B) as of the date of such  merger and after  giving
                  effect thereto, no Event of Default or act, condition or event
                  which with notice or passage of time or both would  constitute
                  an Event of  Default,  shall  exist  or have  occurred  and be
                  continuing,

                           (C) promptly upon Lender's  request,  One Price shall
                  deliver, or cause to be delivered to Lender, true, correct and
                  complete copies of all  agreements,  documents and instruments
                  relating to such merger  (including  drafts thereof in advance
                  of the proposed merger or acquisition),

                           (D) promptly upon Lender's  request,  One Price shall
                  execute and deliver, or cause to be executed and delivered, to
                  Lender  such   agreements,   documents  and   instruments   in
                  connection with such merger as Lender may reasonably  request,
                  including,   without  limitation,  UCC  financing  statements,
                  Collateral Access Agreements and any amendments or supplements
                  hereto,

                           (E) the assets and  properties  being acquired by One
                  Price pursuant to the merger shall be substantially consistent
                  with,  and related to, the  business of One Price as currently
                  conducted as of the date hereof,

                           (F) the assets acquired by One Price pursuant to such
                  merger  shall be free  and  clear  of any  security  interest,
                  mortgage,  pledge,  lien,  charge, or other encumbrance (other
                  than security  interests and liens permitted under Section 9.8
                  hereof),  and Lender shall have received  evidence  reasonably
                  satisfactory to it of the same,

                           (G) the  acquisition  by One  Price  of  such  assets
                  pursuant to the merger shall not violate any law or regulation
                  or any order or decree of any court or Governmental  Authority
                  in any  respect  and shall not and will not  conflict  with or
                  result in the  breach  of,  or  constitute  a  default  in any
                  respect under, any agreement,  document or instrument to which
                  One  Price  is a  party  or may be  bound,  or  result  in the
                  creation or imposition of any lien, charge or encumbrance upon
                  any of the  property  of One Price  (other  than as  permitted
                  under  Section  9.8 hereof) or violate  any  provision  of the
                  Certificate of Incorporation or By-Laws of One Price,

                           (H) the  merger  consideration  shall be  payable  in
                  commercially  reasonable  amounts and terms and in a bona fide
                  arms'  length   transaction   with  a  person  other  than  an
                  Affiliate,

                           (I)  One  Price   shall,   immediately   before   and
                  immediately  after giving effect to such transaction or series
                  of  transactions,  have an  Adjusted  Net  Worth  equal  to or
                  greater than the Adjusted Net Worth it had  immediately  prior
                  to such transaction or series of transactions,

                           (J) One Price shall not become obligated with respect
                  to any Indebtedness, nor any of its property become subject to
                  any security  interest,  mortgage,  pledge,  lien,  charge, or
                  other  encumbrance  pursuant to such  merger  unless One Price
                  could  incur  such   Indebtedness   or  create  such  security
                  interest, mortgage, pledge, lien, charge, or other encumbrance
                  hereunder or under the other Financing Agreements,

                           (K) Lender shall have received, in form and substance
                  reasonably  satisfactory  to Lender,  (1) evidence that Lender
                  has first priority valid and perfected  security  interests in
                  and liens upon the assets  acquired  pursuant  to such  merger
                  subject to any liens as permitted  in Section 9.8 hereof,  (2)
                  all Collateral Access Agreements and other consents,  waivers,
                  acknowledgments  and other agreements from third persons which
                  Lender may reasonably  deem necessary or desirable in order to
                  permit,  protect  and perfect its  security  interests  in and
                  liens upon the assets  acquired  pursuant to such merger,  (3)
                  the  agreement of the other party to the merger  consenting to
                  the  collateral  assignment  by One  Price of all  rights  and
                  remedies  and claims for damages of One Price  relating to the
                  Collateral  (including,  without  limitation,  any bulk  sales
                  indemnification)   under   the   agreements,   documents   and
                  instruments  relating  to  such  merger  and  (4)  such  other
                  agreements, documents and instruments as Lender may reasonably
                  request in connection therewith,

                           (L) Lender shall have  conducted a field  examination
                  with respect to the Person,  its assets and its business  with
                  whom One Price is merging and in no event shall any  Inventory
                  acquired  by One  Price  pursuant  to such  merger  be  deemed
                  Eligible   Inventory   unless   the   results  of  such  field
                  examination  shall be  satisfactory  to Lender in all respects
                  (and the reporting with respect to such  inventory  shall have
                  been incorporated into the accounting  systems of Borrowers in
                  a manner satisfactory to Lender),  and then only to the extent
                  the  criteria  for  Eligible  Inventory  set forth  herein are
                  satisfied  with  respect  thereto (or as modified by Lender in
                  connection with the Inventory  acquired to reflect the results
                  of Lender's field examination,  including any separate advance
                  percentage with respect to such Inventory or any  Availability
                  Reserves  as Lender may  determine),  and upon the  request of
                  Lender,  the Inventory  acquired by One Price pursuant to such
                  merger  shall at all times  after  such  merger be  separately
                  identified and reported to Lender in a manner  satisfactory to
                  Lender,

                           (M)  in no  event  shall  the  total  amount  of  all
                  payments by One Price in connection with such merger, together
                  with all amounts  paid by One Price in respect of purchases of
                  Capital  Stock under Section  9.10(i)  hereof or assets of any
                  Person under Section 9.10(j) hereof, exceed $10,000,000 in the
                  aggregate,

                           (N)  in no  event  shall  the  total  amount  of  all
                  payments  by One Price in  connection  with any one  merger or
                  series of related mergers exceed $10,000,000,

                           (O) as of the date of such  merger  and after  giving
                  effect thereto  (including the payment of all costs related to
                  such  merger),  in the event that all inventory to be acquired
                  by One Price pursuant to such merger shall be deemed by Lender
                  to be Eligible Inventory,  the Excess Availability for each of
                  the immediately  preceding ninety (90) consecutive days (after
                  giving  pro  forma  effect  during  such 90 day  period to the
                  additions  to the amount of loans  available to Borrowers as a
                  result  of  Eligible  Inventory  to be  acquired  by One Price
                  pursuant  to such  merger)  shall  have  been  not  less  than
                  $10,000,000 and as of the date of such merger and after giving
                  effect thereto,  the Excess Availability of Borrowers shall be
                  not  less  than  $10,000,000   (after  giving  effect  to  the
                  additions  to the amount of loans  available to Borrowers as a
                  result  of  any  Eligible  Inventory  acquired  by  One  Price
                  pursuant to such merger);

                           (P) not less than fifteen (15) days prior to the date
                  of such merger or  consolidation,  Lender shall have received,
                  in form  and  substance  reasonably  satisfactory  to  Lender,
                  projected financial  statements of One Price for the remaining
                  portion of the then current year and for the  succeeding  year
                  after giving effect to the acquisition  (including  forecasted
                  income  statements,  cash flow  statements and balance sheets)
                  prepared  on a monthly  basis as to the  current  year and the
                  immediately   succeeding  year,  all  in  reasonable   detail,
                  together  with  such  supporting  information  as  Lender  may
                  reasonably  request,  which  projections  shall  represent One
                  Price's  reasonable  best  estimate  of the  future  financial
                  performance of One Price for the periods set forth therein and
                  shall have been prepared on the basis of the  assumptions  set
                  forth therein which One Price believes are fair and reasonable
                  in  light  of  current  and  reasonably  foreseeable  business
                  conditions (it being  understood that such  projections do not
                  constitute  a  warranty  as to the future  performance  of One
                  Price and that actual results may vary from such projections),

                           (Q) One Price shall be the surviving  corporation and
                  after giving effect to such merger its chief executive  office
                  shall continue to be in the United States of America,

                           (R) promptly upon Lender's  request,  One Price shall
                  immediately  upon the  effectiveness  of the merger  expressly
                  confirm  in  writing  pursuant  to an  agreement,  in form and
                  substance  reasonably  satisfactory to Lender,  its continuing
                  liability  in  respect  of  the   Obligations   and  Financing
                  Agreements  and execute and  deliver,  or cause to be executed
                  and   delivered,   such  other   agreements,   documents   and
                  instruments  as Lender may  reasonably  request in  connection
                  therewith  (including,   without  limitation,   UCC  financing
                  statements,   as  to  new  locations  and  Collateral   Access
                  Agreements),

                           (S)  any  Obligor   shall,   promptly  upon  Lender's
                  request,  ratify and confirm, in form and substance reasonably
                  satisfactory to Lender,  that its guarantee of the Obligations
                  shall apply to the  Obligations  of One Price as the surviving
                  corporation, and

                           (T) upon the  effective  date of the  merger,  Lender
                  shall have received a certificate  duly executed and delivered
                  by One Price in form and substance reasonably  satisfactory to
                  Lender,  addressing  all of the  conditions  set forth in this
                  Section  9.7(a)(iii)  (as modified to refer to the  applicable
                  merger),  together with all schedules thereto, with respect to
                  the  acquisition  of such assets and the  representations  and
                  warranties  contained therein shall be true and correct in all
                  material respects; or"

                  (b) Section  9.7(c) of the Loan Agreement is hereby deleted in
its entirety and the following substituted therefor:

                           "(c)      form  or acquire any subsidiaries except as
                                     permitted under Section 9.10(i) hereof, or"

          5.  Encumbrances.       Section 9.8(e) of the Loan Agreement is hereby
              amended by deleting the number "$5,000,000" and  substituting  the
              following therefor:  "$10,000,000".

          6.  Investments.  Section 9.10 of the Loan Agreement is hereby amended
              to  add  the  following  additional  Sections  9.10 (i) and (j) as
              follows:

                           "(i)  the   purchase   by  One  Price  of  all  or  a
                  substantial  part of the  assets  or  property  of any  person
                  located in the United States (other than  purchases of Capital
                  Stock),  provided,  that, each of the following  conditions is
                  satisfied as determined by Lender:

                                    (i) Lender shall have received not less than
                  thirty  (30)  days'  prior  written  notice  of  the  proposed
                  acquisition  and such  information  with  respect  thereto  as
                  Lender may request,  including  (A) the  proposed  date of the
                  acquisition,  (B) a list and  description  of the assets to be
                  acquired (including the addresses of the locations thereof and
                  whether  such  locations  are owned,  leased or  operated by a
                  thirty party,  and if leased or operated by a third party, the
                  name and  address of the lessor or third  party),  and (C) the
                  total  purchase  price for the assets to be purchased (and the
                  terms of payment of such purchase price),

                                    (ii) as of the  date of  such  purchase  and
                  after  giving  effect  thereto,  no Event of  Default  or act,
                  condition  or event  which  with  notice or passage of time or
                  both would constitute an Event of Default, shall exist or have
                  occurred and be continuing,

                                    (iii)  promptly upon Lender's  request,  One
                  Price shall deliver, or cause to be delivered to Lender, true,
                  correct and complete copies of all  agreements,  documents and
                  instruments relating to such acquisition,

                                    (iv)  promptly upon  Lender's  request,  One
                  Price shall  execute and deliver,  or cause to be executed and
                  delivered,   to  Lender   such   agreements,   documents   and
                  instruments in connection with such  acquisition as Lender may
                  reasonably  request,   including,   without  limitation,   UCC
                  financing  statements,  Collateral  Access  Agreements and any
                  amendments or supplements hereto,

                                    (v) the assets and properties being acquired
                  by One  Price  shall be  substantially  consistent  with,  and
                  related to, the business of One Price as  currently  conducted
                  as of the date hereof,

                                    (vi) the assets  acquired by Borrower  shall
                  be free and clear of any security interest,  mortgage, pledge,
                  lien,  charge,  or  other  encumbrance  (other  than  security
                  interests  and liens  permitted  under Section 9.8 hereof) and
                  Lender shall have received evidence reasonably satisfactory to
                  it of the same,

                                    (vii) the  acquisition  by One Price of such
                  assets shall not violate any law or regulation or any order or
                  decree of any court or  Governmental  Authority in any respect
                  and  shall  not and will not  conflict  with or  result in the
                  breach of, or constitute a default in any respect  under,  any
                  agreement,  document  or  instrument  to which  One Price is a
                  party or may be bound, or result in the creation or imposition
                  of any lien, charge or encumbrance upon any of the property of
                  One Price other than as  permitted  by Section 9.8 hereof,  or
                  any Affiliate or violate any provision of the  Certificate  of
                  Incorporation or By-Laws of One Price,

                                    (viii)   such    purchase    shall   be   on
                  commercially  reasonable  prices  and terms and in a bona fide
                  arms'  length   transaction   with  a  person  other  than  an
                  Affiliate,

                                    (ix) One Price shall, immediately before and
                  immediately  after giving effect to such transaction or series
                  of  transactions,  have an  Adjusted  Net  Worth  equal  to or
                  greater than the Adjusted Net Worth it had  immediately  prior
                  to such transaction or series of transactions,

                                    (x) One  Price  shall not  become  obligated
                  with respect to any  Indebtedness,  nor any of their  property
                  become  subject to any security  interest,  mortgage,  pledge,
                  lien,   charge,   or  other   encumbrance   pursuant  to  such
                  acquisition  unless One Price could incur such Indebtedness or
                  create  such  security  interest,  mortgage,  pledge,  lien or
                  charge as  permitted  in Sections  9.8 and 9.9 hereof,  as the
                  case may be,

                                    (xi) Lender shall have received, in form and
                  substance reasonably satisfactory to Lender, (A) evidence that
                  Lender  has  first  priority  valid  and  perfected   security
                  interests  in and liens upon the assets  purchased  subject to
                  any security  interests  and liens as permitted in Section 9.8
                  hereof,   (B)  all  Collateral  Access  Agreements  and  other
                  consents,  waivers,  acknowledgments and other agreements from
                  third persons which Lender may  reasonably  deem  necessary or
                  desirable in order to permit, protect and perfect its security
                  interests  in and liens  upon the  assets  purchased,  (C) the
                  agreement  of  the  seller   consenting   to  the   collateral
                  assignment by One Price, of all rights and remedies and claims
                  for  damages  of  One  Price   relating   to  the   Collateral
                  (including,     without    limitation,    any    bulk    sales
                  indemnification)   under   the   agreements,   documents   and
                  instruments  relating to such  acquisition  and (D) such other
                  agreements, documents and instruments as Lender may reasonably
                  request in connection therewith,

                                    (xii)  Lender  shall have  conducted a field
                  examination  with  respect to the  Person,  its assets and its
                  business  whose  assets  are being  purchased  and in no event
                  shall any Inventory so acquired by One Price  pursuant to such
                  acquisition be deemed Eligible Inventory unless the results of
                  such field  examination shall be satisfactory to Lender in all
                  respects  (and the  reporting  with respect to such  inventory
                  shall have been  incorporated  into the accounting  systems of
                  Borrowers in a manner reasonably  satisfactory to Lender), and
                  then only to the extent the criteria  for  Eligible  Inventory
                  set forth herein are  satisfied  with  respect  thereto (or as
                  modified by Lender in connection  with the Inventory  acquired
                  to  reflect  the  results  of  Lender's   field   examination,
                  including any separate advance percentage with respect to such
                  Inventory or Availability  Reserves as Lender may determined),
                  and upon the  reasonable  request  of  Lender,  the  Inventory
                  acquired by One Price  pursuant to such  acquisition  shall at
                  all times after such acquisition be separately  identified and
                  reported  to Lender  in a manner  reasonably  satisfactory  to
                  Lender,

                                     (xiii) in no event  shall the total  amount
                  of  all  payments  by  Borrowers  in   connection   with  such
                  acquisitions,  together  with all amounts paid by Borrowers in
                  respect of mergers under Section  9.7(a)(iii) and purchases of
                  Capital Stock under Section 9.10(j), exceed $10,000,000 in the
                  aggregate at any time,

                                     (xiv) in no event shall the total amount of
                  all  payments  by  Borrowers  in   connection   with  any  one
                  acquisition  or  series of  related  acquisitions  under  this
                  Section 9.10(i) exceed $10,000,000,

                                    (xv) as of the date of such  acquisition and
                  after  giving  effect  thereto  (including  the payment of all
                  costs related to such acquisition), the Excess Availability of
                  Borrowers for each of the  immediately  preceding  ninety (90)
                  consecutive days (after giving pro forma effect during such 90
                  day period to the  additions to the amount of loans  available
                  to  Borrowers  as a result  of any  Eligible  Inventory  to be
                  acquired by One Price pursuant to such acquisition) shall have
                  been not  less  than  $10,000,000,  and as of the date of such
                  acquisition  and  after  giving  effect  thereto,  the  Excess
                  Availability  shall be not less than $10,000,000 (after giving
                  effect to the  additions  to the amount of loans  available to
                  Borrowers as a result of any Eligible Inventory to be acquired
                  by One Price pursuant to such acquisition),

                                    (xvi) not less than  fifteen (15) days prior
                  to the date of such  acquisition,  Lender shall have received,
                  in form  and  substance  reasonably  satisfactory  to  Lender,
                  projected financial  statements of One Price for the remaining
                  portion of the then current year and for the  succeeding  year
                  after giving effect to the acquisition  (including  forecasted
                  income  statements,  cash flow  statements and balance sheets)
                  prepared  on a monthly  basis as to the  current  year and the
                  immediately   succeeding  year,  all  in  reasonable   detail,
                  together  with  such  supporting  information  as  Lender  may
                  reasonably  request,  which  projections  shall  represent One
                  Price's  reasonable  best  estimate  of the  future  financial
                  performance of One Price for the periods set forth therein and
                  shall have been prepared on the basis of the  assumptions  set
                  forth therein which One Price believe are fair and  reasonable
                  in  light  of  current  and  reasonably  foreseeable  business
                  conditions (it being  understood that such  projections do not
                  constitute a warranty as to the future performance of Borrower
                  and that actual results may vary from such projections),

                                    (xvii)        upon the effective date of the
                  acquisition of such assets by  One Price,  Lender  shall  have
                  received  a  certificate  duly    executed  and  delivered  by
                  One  Price in form and  substance     reasonably  satisfactory
                  to  Lender,  addressing  all  of the     conditions  set forth
                  in this Section  9.10(i) (as modified to        refer  to  the
                  applicable  acquisition),  together  with  all       schedules
                  thereto,   with   respect   to   the  acquisition  of     such
                  assets  and  the  representations  and  warranties   contained
                  therein  shall be true and correct in all  material  respects;
                  and

                           (j) the  purchase  by One Price of all of the Capital
                  Stock  of any  Person  with its  chief  executive  office  and
                  substantially   all  of  its  assets  in  the  United  States,
                  provided,  that, each of the following conditions is satisfied
                  as determined by Lender:

                                    (i) Lender shall have received not less than
                  thirty  (30)  days'  prior  written  notice  of  the  proposed
                  acquisition  and such  information  with  respect  thereto  as
                  Lender may request,  including  (A) the  proposed  date of the
                  acquisition,   (B)  the   name,   address,   jurisdiction   of
                  incorporation  and federal employer  identification  number of
                  the person whose Capital Stock is being purchased,  (C) a list
                  and  description  of the  assets of the Person  whose  Capital
                  Stock is  being  purchased  (including  the  addresses  of the
                  locations thereof and whether such locations are owned, leased
                  or operated by a thirty party,  and if leased or operated by a
                  third  party,  the name and  address  of the  lessor  or third
                  party), and (D) the total purchase price for the Capital Stock
                  to be  purchased  (and the terms of payment  of such  purchase
                  price),

                                    (ii) as of the  date of  such  purchase  and
                  after  giving  effect  thereto,  no Event of  Default  or act,
                  condition  or event  which  with  notice or passage of time or
                  both would constitute an Event of Default, shall exist or have
                  occurred and be continuing,

                                    (iii)  promptly upon Lender's  request,  One
                  Price shall deliver, or cause to be delivered to Lender, true,
                  correct and complete copies of all  agreements,  documents and
                  instruments relating to such acquisition,

                                    (iv)  promptly  upon such  acquisition,  One
                  Price  shall  cause the Person  whose  Capital  Stock is being
                  purchased  to  execute  and  deliver  to  Lender,  in form and
                  substance   satisfactory  to  Lender:   (A)  an  absolute  and
                  unconditional  guarantee of payment of all of the Obligations,
                  (B) a general security  agreement granting to Lender specify a
                  first and only  security  interest in and lien upon all of the
                  assets and  properties of such Person (other than as permitted
                  under   Section  9.8  hereof),   (C)  related  UCC   financing
                  statements,  and (D)  such  other  agreements,  documents  and
                  instruments as Lender, may reasonably require,

                                    (v) promptly upon Lender's request,  (A) One
                  Price  shall  execute  and  deliver  to  Lender,  in form  and
                  substance  satisfactory  to  Lender,  a  pledge  and  security
                  agreement  granting  to  Lender a first  priority  pledge  and
                  security interest in all of the issued and outstanding  shares
                  of Capital  Stock of the Person whose  Capital  Stock is being
                  purchased and (B) One Price shall  deliver the original  stock
                  certificates evidencing such shares of Capital Stock, together
                  with stock powers with respect thereto duly executed in blank,

                                    (vi)  promptly upon  Lender's  request,  One
                  Price shall  execute and deliver,  or cause to be executed and
                  delivered,  to Lender  such other  agreements,  documents  and
                  instruments in connection with such  acquisition as Lender may
                  reasonably  request,   including,   without  limitation,   UCC
                  financing  statements,  Collateral  Access  Agreements and any
                  amendments or supplements hereto,

                                    (vii)  the  assets  and  properties  of  the
                  Person  whose  Capital  Stock is being  acquired  by One Price
                  shall be  substantially  consistent  with, and related to, the
                  business of One Price as  currently  conducted  as of the date
                  hereof,

                                      (viii)  the  assets  of the  Person  whose
                  Capital Stock is being  acquired by One Price (and the Capital
                  Stock)  shall be free  and  clear  of any  security  interest,
                  mortgage,  pledge,  lien,  charge,  or other  encumbrance  and
                  Lender shall have received evidence  satisfactory to it of the
                  same (other than security  interests and liens permitted under
                  Section 9.8 hereof),

                                    (ix) the  acquisition  by One  Price of such
                  Capital  Stock shall not violate any law or  regulation or any
                  order or decree of any court or Governmental  Authority in any
                  respect and shall not and will not conflict  with or result in
                  the breach of, or  constitute a default in any respect  under,
                  any agreement,  document or instrument to which One Price is a
                  party or may be bound, or result in the creation or imposition
                  of any lien, charge or encumbrance upon any of the property of
                  One Price (other than as permitted  under  Section 9.8 hereof)
                  or any Affiliate or violate any  provision of the  Certificate
                  of Incorporation or By-Laws of One Price;

                                    (x) such purchase  shall be on  commercially
                  reasonable  prices and terms and in a bona fide  arms'  length
                  transaction with a person other than an Affiliate,

                                    (xi) One Price shall, immediately before and
                  immediately  after giving effect to such transaction or series
                  of  transactions,  have an  Adjusted  Net  Worth  equal  to or
                  greater than the Adjusted Net Worth it had  immediately  prior
                  to such transaction or series of transactions,

                                    (xii) One Price  shall not become  obligated
                  with respect to any  Indebtedness,  nor any of their  property
                  become  subject to any security  interest,  mortgage,  pledge,
                  lien,   charge,   or  other   encumbrance   pursuant  to  such
                  acquisition  unless One Price could incur such Indebtedness or
                  create such security interest, mortgage, pledge, lien, charge,
                  or other  encumbrance  hereunder or under the other  Financing
                  Agreements,

                                    (xiii) Lender shall have  received,  in form
                  and substance reasonably  satisfactory to Lender, (A) evidence
                  that Lender has first  priority  valid and perfected  security
                  interests  in and liens upon the  assets of the  Person  whose
                  Capital  Stock  is  being  acquired  subject  to any  security
                  interests  and liens as permitted  in Section 9.8 hereof,  (B)
                  all Collateral Access Agreements and other consents,  waivers,
                  acknowledgments  and other agreements from third persons which
                  Lender may reasonably  deem necessary or desirable in order to
                  permit,  protect  and perfect its  security  interests  in and
                  liens  upon the assets of the Person  whose  Capital  Stock is
                  being acquired,  (C) the agreement of the seller consenting to
                  the collateral assignment by such Subsidiary of all rights and
                  remedies and claims for damages of such Subsidiary relating to
                  the Collateral (including,  without limitation, any bulk sales
                  indemnification)   under   the   agreements,   documents   and
                  instruments  relating to such  acquisition  and (D) such other
                  agreements, documents and instruments as Lender may reasonably
                  request in connection therewith,

                                    (xiv) in no event shall the total  amount of
                  all   payments   by  One   Price  in   connection   with  such
                  acquisitions,  together  with all amounts paid by One Price in
                  respect of mergers under Section  9.7(a)(iii)  or purchases of
                  assets  of  any   Person   under   Section   9.10(i),   exceed
                  $10,000,000,

                                    (xv) in no event  shall the total  amount of
                  all  payments  by  One  Price  in  connection   with  any  one
                  acquisition  or  series of  related  acquisitions  under  this
                  Section 9.10(j) exceed $10,000,000,

                                    (xvi) as of the date of such acquisition and
                  after  giving  effect  thereto  (including  the payment of all
                  costs related to such acquisition), the Excess Availability of
                  Borrowers for each of the  immediately  preceding  ninety (90)
                  consecutive days shall have been not less than $10,000,000,

                                    (xvii)  as of the  date of such  acquisition
                  and after giving effect thereto  (including the payment of all
                  costs related to such acquisition), the Excess Availability of
                  Borrowers shall be not less than $10,000,000,

                                    (xviii)  not less  than  fifteen  (15)  days
                  prior  to the  date of such  acquisition,  Lender  shall  have
                  received,  in  form  and  substance  satisfactory  to  Lender,
                  projected financial  statements of One Price for the remaining
                  portion of the then current year and for the  succeeding  year
                  after giving effect to the acquisition  (including  forecasted
                  income  statements,  cash flow  statements and balance sheets)
                  prepared  on a monthly  basis as to the  current  year and the
                  immediately   succeeding  year,  all  in  reasonable   detail,
                  together  with  such  supporting  information  as  Lender  may
                  reasonably  request,  which  projections  shall  represent One
                  Price's  reasonable  best  estimate  of the  future  financial
                  performance of One Price for the periods set forth therein and
                  shall have been prepared on the basis of the  assumptions  set
                  forth therein which  Borrower  believe are fair and reasonable
                  in  light  of  current  and  reasonably  foreseeable  business
                  conditions (it being  understood that such  projections do not
                  constitute a warranty as to the future performance of Borrower
                  and that actual results may vary from such projections),

                                    (xix)  upon  the   effective   date  of  the
                  acquisition  of such Capital Stock by One Price,  Lender shall
                  have  received a  certificate  duly  executed and delivered by
                  Borrower  in form and  substance  reasonably  satisfactory  to
                  Lender,  addressing  all of the  conditions  set forth in this
                  Section  9.10(j)  (as  modified  to  refer  to the  applicable
                  acquisition),   together  with  all  schedules  thereto,  with
                  respect   to  the   acquisition   of  such   assets   and  the
                  representations and warranties contained therein shall be true
                  and correct in all material respects."

           7.  Dividends and Redemptions. Section 9.11 of the Loan Agreement  is
               hereby  amended  to  included  the   following at the end of such
               Section:

                  "except,  that,  One Price may  repurchase  its Capital  Stock
                  consisting  of common  stock,  provided,  that, as to any such
                  repurchase, each of the following conditions is satisfied: (a)
                  as of the date of the  payment for such  repurchase  and after
                  giving  effect  thereto,  no  Event  of  Default  or any  act,
                  condition  or event  which,  with notice or passage of time or
                  both,  would  constitute  an Event of Default,  shall exist or
                  have occurred and be continuing,  (b) such repurchase shall be
                  paid  with  funds  legally   available   therefor,   (c)  such
                  repurchase  shall not  violate  any law or  regulation  or the
                  terms of any indenture, agreement or undertaking to which such
                  Borrower is a party or by which such  Borrower or its property
                  is  bound,  (d) as of the  date of any such  payment  for such
                  repurchase  and  after  giving  effect  thereto,   the  Excess
                  Availability  shall be not less than $10,000,000,  and (e) the
                  aggregate amount of all payments for such  repurchases  during
                  the term of this Agreement shall not exceed $5,000,000."

<PAGE>

           8.  Term.  (a) The first sentence of  Section   12.1(a)   of the Loan
               Agreement is hereby deleted  in  its   entirety and the following
               substituted therefor:

                           "(a)  This   Agreement   and  the   other   Financing
                  Agreements  shall become effective as of the date set forth on
                  the first  page  hereof and shall  continue  in full force and
                  effect  for a term  ending  on July  31,  2003  (the  "Renewal
                  Date"),  and  from  year to  year  thereafter,  unless  sooner
                  terminated pursuant to the terms hereof."

         (b) Clause (iii) of the first  sentence of Section  12.1(c) of the Loan
Agreement  (as  previously  amended) is hereby  deleted in its  entirety and the
following substituted therefor:

                     "(iii) .125% of the             April 1, 2000 to but not
                            Inventory Loan           including July 31, 2003."

         9.  Carolina First Bank.

                  (a) Lender hereby  consents to an extension of the term of the
Carolina Bank Documents to July 31, 2003.

                  (b)  Lender's  consent  pursuant  to  Section  10(a),   shall,
however,   be  conditioned  upon  Lender's   receipt,   in  form  and  substance
satisfactory to Lender, of the written agreements between One Price and Carolina
Bank setting forth the  foregoing  modification,  together  with, if required by
Lender, a written  confirmation by Carolina Bank of the continued  effectiveness
of the Intercreditor Agreement,  dated May 16, 1997, between Lender and Carolina
Bank,  in form and  substance  satisfactory  to Lender  and  accompanied  by the
written agreement and acknowledgment of One Price.

         10.  Amendment Fee. In consideration of the Agreement set forth herein,
              Borrower shall on the date hereof, pay to Lender, and Lender  may,
              at its option,  charge  the  account of  Borrowers  maintained  by
              Lender,  a  fee  in  the amount of $25,000,  which  fee  is  fully
              earned and payable as of the date hereof and shall constitute part
              of the Obligations.

         11.  Conditions Precedent.      The effectiveness of the amendments set
              forth herein are further conditioned upon the satisfaction of each
              of the following conditions precedent in a manner satisfactory  to
              Lender:

<PAGE>

                  (a) No Event of Default, or act, condition or event which with
notice or  passage of time or both would  constitute  an Event of Default  shall
exist or have occurred;

                  (b)  Lender shall have received the fee referred to in Section
                       5 hereof;

                  (c)  Lender shall have received the confirmation  of  Carolina
                       Bank and One Price  referred to in Section  10(b) hereof;
                       and

                  (d) Lender shall have received an original of this  Amendment,
                      duly authorized, executed and delivered by Borrowers   and
                      One Price VI.

         12.      Miscellaneous.

                  (a) Entire  Agreement;  Ratification  and  Confirmation of the
Financing  Agreements.  This  Amendment  contains  the entire  agreement  of the
parties with respect to the subject  matter hereof and  supersedes  all prior or
contemporaneous    term   sheets,    proposals,    discussions,    negotiations,
correspondence,  commitments  and  communications  between or among the  parties
concerning the subject matter hereof.  This Amendment may not be modified or any
provision  waived,  except in  writing  signed by the  party  against  whom such
modification  or waiver is sought to be  enforced.  Except for those  provisions
specifically  modified or waived pursuant hereto,  subject,  nevertheless to the
periods of  effectiveness  of the temporary  waiver and temporary  amendment set
forth,  respectively,  in Sections 1 and 2 hereof, the Financing  Agreements are
hereby  ratified,  restated  and  confirmed  by  the  parties  hereto  as of the
effective  date  hereof.  To the extent of  conflict  between  the terms of this
Amendment  and the  Financing  Agreements,  the  terms of this  Amendment  shall
control.

                  (b)  Governing   Law.  This   Amendment  and  the  rights  and
obligations  hereunder  of each of the parties  hereto  shall be governed by and
interpreted  and determined in accordance with the internal laws of the State of
Georgia, without regard to principles of conflicts of law.

                  (c)  Binding Effect.  This Amendment shall be binding upon and
inure  to  the  benefit  of  each of the  parties  hereto  and  their respective
successors and assigns.

                  (d) Counterparts. This Amendment may be executed in any number
of counterparts,  but all of such counterparts shall together constitute but one
and the same  agreement.  In  making  proof of this  Amendment  it shall  not be
necessary to produce or account for more than one counterpart  thereof signed by
each of the parties hereto.

<PAGE>

         By the signature hereto of each of their duly authorized officers,  all
of the parties hereto mutually covenant and agree as set forth herein.

                                               Very truly yours,

                                               CONGRESS FINANCIAL CORPORATION
                                               (SOUTHERN)

                                               By:   /s/ Morris P. Holloway
                                                     ------------------------
                                                         Morris P. Holloway
                                               Title:    Senior Vice President
                                                     -------------------------

AGREED AND ACCEPTED:

ONE PRICE CLOTHING STORES, INC.

By:        /s/ C. Burt Duren
           --------------------
           C. Burt Duren
Title:     Vice President & Treasurer
           --------------------------

ONE PRICE CLOTHING OF PUERTO RICO, INC.

By:        /s/ C. Burt Duren
           --------------------
           C. Burt Duren
Title:     Vice President & Treasurer
           --------------------------

CONSENTED TO AND AGREED:

ONE PRICE CLOTHING - U.S. VIRGIN ISLANDS, INC.

By:        /s/ C. Burt Duren
           --------------------
           C. Burt Duren
Title:     Vice President & Treasurer
           --------------------------

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