Document:

<PAGE>
                            RED BELL BREWING COMPANY

                             SUBSCRIPTION AGREEMENT

         THIS SUBSCRIPTION AGREEMENT is made this 17th day of July, 2001, by and
between CDB FINANCE CORPORATION ("CDB"), and RED BELL BREWING COMPANY, a
Pennsylvania corporation (the "Company").

                                   Background
                                   ----------

         Pursuant to promissory notes dated February 5, 2001, April 23, 2001 and
April 27, 2001 (the "Notes"), CDB loaned the principal amount of $498,200 to the
Company. Pursuant thereto, on August 5, 2001, the Company is obligated to
deliver to CDB the amount of $58,192.30, on August 23, 2001 the Company is
obligated to deliver to CDB the amount of $225,931.38, and on October 1, 2001
the further amount of $241,238.40 (collectively, "Amount Due"). In furtherance
of the satisfaction of the Amount Due the Company is issuing to CDB shares of
Common Stock of the Company (the "Common Stock").

                                    Agreement
                                    ---------

         NOW, THEREFORE, intending to be legally bound hereby, the parties
hereto agree as follows:

         1.       Issuance and Sale of Stock.
                  --------------------------

                   A. Subject to the terms hereof, and in addition to the
100,000 shares to be issued pursuant to subsection B., the Company will issue up
to 400,000 shares of Common Stock (the "Shares") to CDB. The Company will
promptly deliver to CDB or its designated agent a certificate representing
200,000 of the Shares. It is intended by the parties hereto that following the
registration thereof CDB may sell the Shares in the public market in order to
obtain Net Proceeds (as defined below) to be applied towards the Amount Due. If,
following the sale by CDB of these 200,000 Shares, the Amount Due has not been
fully paid, then the Company shall, from time to time at the request of CDB,
expeditiously issue to CDB up to 200,000 additional Shares in an amount to be
agreed upon between CDB and the Company. For purposes hereof, "Net Proceeds"
shall be defined as the actual proceeds from the sale of any Shares in the
public market, less any brokerage commissions incurred by CDB. Upon the receipt
in full of the Amount Due from any source whatsoever, CDB shall return to the
Company for cancellation any Shares previously issued to it under this Agreement
and which have not been sold pursuant to this Agreement.

                  B. In addition to the 400,000 shares referred to above, the
Company will issue to CDB 100,000 shares of Common Stock (also known herein as
the "Shares") as an inducement for the loan in the principal amount of $218,500
made on April 27, 2001 by CDB to the Company. These shares shall replace the
35,000 shares referred to in the Note relating to the loan. The Company will
promptly deliver to CDB or its designated agent a certificate representing these
100,000 Shares.

<PAGE>

                  C. For the purposes hereof, the term "Shares" shall include
and refer to all of the 500,000 shares of Common Stock referred to above.

         2. Registration of Shares. Promptly following the execution of this
Agreement, the Company shall file a registration statement on Form SB-2 (the
"SB-2 Registration Statement") registering the Shares in accordance with the
Registration Rights Agreement attached hereto as Exhibit A (the "Registration
Rights Agreement"). CDB agrees that all sales of the Shares shall be sold
pursuant to the manner of sale requirements set forth under Rule 144(f) of the
Act.

         3. Representations and Warranties of the Company. The Company hereby
makes the following representations and warranties to CDB:

                  A. The issuance of the Shares has been duly authorized by all
necessary corporate action, and when issued, the Shares will be validly issued,
fully paid and non-assessable. Upon transfer and delivery of the Shares, CDB
shall obtain full legal title to all of such Shares, free and clear of any lien,
charge or other encumbrance of any nature.

                  B. The execution and delivery of this Agreement and the
Registration Rights Agreement, and the consummation of the transactions
contemplated hereby, has been duly authorized by all necessary corporate action
of the Company.

                  C. The Company has the full right, power and authority to
enter into this Agreement and the Registration Rights Agreement and to
consummate the transaction described herein and therein. This Agreement and the
Registration Rights Agreement have been duly executed and delivered by the
Company and constitute the legal, valid and binding obligation of the Company,
enforceable against the Company in accordance with their terms.

                  D. Upon the registration of the Shares pursuant to this
Agreement and the Registration Rights Agreement, the Shares shall be fully
tradable by CDB, free of any and all restrictions other than the manner of sale
requirements set forth under Rule 144(f) of the Act.

         4. Representations and Warranties of CDB. CDB hereby makes the
following representations and warranties to the Company:

                  A. CDB understands that the Shares are being offered and sold
under an exemption from registration under the Act, and offering exemptions
contained in the securities laws of Pennsylvania; that CDB is purchasing the
Shares without being furnished any offering literature or prospectus of any sort
relating to the Company; and that all documents, records and books pertaining to
this investment and the Company have been made available by the Company to CDB
and CDB's representatives.

                  B. CDB understands that the Shares have not, and except as
provided in the Registration Rights Agreement between the parties, will not be
registered under the Act or any state securities laws, and that in order to sell
or transfer the Shares, such Shares must either be registered under such laws or
an appropriate exemption from registration must be available.

<PAGE>

                  C. CDB is a bona fide resident and domiciliary of the
Commonwealth of Pennsylvania and has no present intention of becoming a resident
or domiciliary of any other jurisdiction.

                  D. CDB is an accredited investor as defined in Rule 501 under
the Act.

                  E. CDB understands and has fully considered, for purposes of
this investment, that there are substantial restrictions on the transferability
of the Shares and there is currently no established public market for the Shares
and limited liquidity is present in connection with the Shares.

                  F. CDB has such knowledge and experience in financial and
business matters that CDB is capable of evaluating the merits and risks of an
investment in the Common Stock and of making an informed investment decision.

                  G. CDB confirms that in making its decision to purchase the
Shares hereby subscribed for, CDB has relied solely upon its own independent
investigation of the Company and the Security Documents, and not on any
representations, warranties or statements made by or on behalf of the Company
(other than those made herein), and that he has been given the opportunity to
ask questions of and to receive answers from the Company concerning the Company,
its financial condition and business, and to obtain any additional information
which the Company possesses or can acquire without unreasonable effort or
expense.

                  H. The Shares hereby subscribed for is being acquired by CDB
in good faith solely for its own account for investment purposes only and is not
being purchased with a view to or for the resale, distribution, subdivision or
fractionalization thereof (other than following the registration of such Shares
pursuant to Section 6); CDB has no contract, understanding, undertaking,
agreement or arrangement, formal or informal, with any person to sell, transfer
or pledge to any person the Shares for which CDB hereby subscribes for or any
part thereof. CDB understands that the legal consequences of the foregoing
representations and warranties are that CDB must bear the economic risk of an
investment in the Shares for an indefinite period of time because the Shares
have not been registered under the Act or applicable state securities laws and
therefore cannot be sold unless such Shares are subsequently registered under
the Act or applicable state securities laws (which the Company has agreed to do
under the Registration Rights Agreement) or an exemption from such registration
is available.

                  I. CDB consents to the placement of a legend on the
certificate representing the Shares being purchased by CDB, which legend will be
in substantially the following form (the "Securities Legend"):

"THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED WITH
THE SECURITIES AND EXCHANGE COMMISSION UNDER THE SECURITIES ACT OF 1933, AS
AMENDED, OR THE SECURITIES LAWS OF ANY OTHER JURISDICTION. THE SALE OR OTHER
DISPOSITION OF THESE SECURITIES IS PROHIBITED UNLESS THE COMPANY RECEIVES AN
OPINION OF COUNSEL SATISFACTORY TO IT AND ITS COUNSEL THAT SUCH SALE OR OTHER
DISPOSITION CAN BE MADE WITHOUT REGISTRATION UNDER THE SECURITIES ACT OF 1933
AND OTHER APPLICABLE STATUTES."

<PAGE>

         5. Additional Covenants of the Company.

         Upon the registration of the Shares pursuant to the Registration Rights
Agreement, the Company shall promptly either remove the Securities Legend or
issue an opinion of counsel to the transfer agent to the effect that sales of
the Shares may be made without restrictions.

         6. Survival of Representations, Warranties, Covenants, Agreements and
Remedies. Except as specifically provided otherwise herein, all representations,
warranties, covenants, agreements and remedies of the parties hereto, shall
survive the date hereof.

         7. Entire Agreement. This Agreement constitutes the entire
understanding and agreement between the parties hereto with respect to the
transactions contemplated herein, supersedes all prior and contemporaneous
agreements, understandings, negotiations and discussions, whether oral or
written, of the parties, and there have been no warranties, representations or
promises, written or oral, made by any of the parties hereto except as herein
expressly set forth herein.

         8. Binding Agreement. This Agreement shall be binding upon and inure to
the benefit of the parties hereto, as well as their respective heirs, personal
representatives, successors and assigns but no party may assign its obligations
hereunder.

         9. Governing Law. This Agreement shall be construed in accordance with
and shall be governed by the laws of the Commonwealth of Pennsylvania without
regard to its conflicts of law rules.

         10. Counterparts. This Agreement may be executed in counterparts, each
of which shall constitute an original and which together shall constitute a
single agreement.

         11. Severability. If any provision of this Agreement shall be invalid
or unenforceable in any jurisdiction, such invalidity or unenforceability shall
not affect the validity or enforceability of the remainder of this Agreement or
the validity or enforceability of this Agreement in any other jurisdiction.

         IN WITNESS WHEREOF, each of the undersigned, intending to be legally
bound hereby, has executed this Subscription Agreement as of the date set forth
above.

                            CDB FINANCE CORPORATION

                            By: /s/
                               --------------------------------------

                            RED BELL BREWING COMPANY

                            By: /s/ James R. Bell
                               --------------------------------------
                                     James R. Bell, President<PAGE>
                          REGISTRATION RIGHTS AGREEMENT

         THIS REGISTRATION RIGHTS AGREEMENT (this "Agreement") is entered into
on July 17, 2001, by and among RED BELL BREWING COMPANY, a corporation duly
incorporated and existing under the laws of the Commonwealth of Pennsylvania
(the "Company"), and CDB FINANCE CORPORATION (the "Investor").

                                    RECITALS:

         WHEREAS, the Company and Investor have entered into a Subscription
Agreement dated the date hereof (the "Subscription Agreement") whereby pursuant
to the terms of the Subscription Agreement the Company has agreed to issue to
the Investor up to 500,000 shares of Common Stock of the Company ("Shares"); and

         WHEREAS, the Company has agreed to provide the Investor with certain
registration rights with respect to the aforesaid Common Stock.

                                     TERMS:

         NOW, THEREFORE, in consideration of the mutual promises,
representations, warranties, covenants and conditions set forth in this
Agreement and for other good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, the parties hereto agree as
follows:

         1. Certain Definitions. As used in this Agreement (including the
Recitals above), the following terms shall have the following meanings (such
meanings to be equally applicable to both singular and plural forms of the terms
defined):

                  "Additional Registration Statement" shall have the meaning set
forth in Section 3(b).

                  "Amended Registration Statement" shall have the meaning set
forth in Section 3(b).

                  "Common Stock" shall mean the Common Stock of the Company.

                  "Effective Date" shall have the meaning set forth in Section
2.3.

                  "Exchange Act" shall mean the Securities Exchange Act of 1934,
as amended, together with the rules and regulations promulgated thereunder.

                  "Holder" shall mean Investor, and any other person or entity
owning or having the right to acquire Registrable Securities or any permitted
assignee.

                  "Investor" shall have the meaning set forth in the preamble to
this Agreement.

                                        1

<PAGE>

                  "Register," "Registered," and "Registration" shall mean and
refer to a registration effected by preparing and filing a registration
statement or similar document in compliance with the Securities Act and pursuant
to Rule 415 under the Securities Act or any successor rule, and the declaration
or ordering of effectiveness of such registration statement or document.

                  "Registrable Securities" shall have the meaning set forth in
Section 2.1.

                  "Registration Period" shall have the meaning set forth in
Section 2.4.

                  "Registration Statement" shall have the meaning set forth in
Section 2.2.

                  "Rule 144" shall mean Rule 144, as amended, promulgated under
the Securities Act.

                  "SEC" shall mean the United States Securities and Exchange
Commission.

                  "Securities Act" shall mean the Securities Act of 1933, as
amended, together with the rules and regulations promulgated thereunder.

                  "Shares" shall have the meaning set forth in the recitals to
this Agreement.

                  "Supplemental Registration Statement" shall have the meaning
set forth in Section 3(b).

         2.       Required Registration.

                  2.1 Registrable Securities. "Registrable Securities" shall
mean the Shares; provided, however, that notwithstanding the above, the
following shall not be considered Registrable Securities:

                           (a) any Shares disposed of pursuant to the
Registration Statement;

                           (b) any Shares which would otherwise be deemed to be
Registrable Securities, if and to the extent that those Shares may be resold in
a public transaction without volume limitations or other material restrictions
without registration under the Securities Act, including without limitation,
pursuant to Rule 144 under the Securities Act; or

                           (c) any Shares which have been sold in a private or
other transaction other than pursuant to the Registration Statement or
Supplemental Registration Statement.

                  2.2 Filing of Initial Registration Statement. The Company
shall promptly after the date hereof, file a registration statement
("Registration Statement") on Form SB-2 (or other suitable form, at the
Company's discretion, but subject to the reasonable approval of Investor),
covering the resale of the Registrable Securities.

                                        2

<PAGE>

                  2.3 Registration Effective Date. The Company shall use its
best efforts to have the Registration Statement declared effective by the SEC
(the date of such effectiveness is referred to herein as the "Effective Date")
as soon as practicable.

                  2.4 Shelf Registration. The Registration Statement shall be
prepared as a "shelf" registration statement under Rule 415, and shall be
maintained effective (the "Registration Period") until the earlier of (i) one
year from the Effective Date, or (ii) the date that all the Shares are no longer
Registrable Securities.

         3. Obligations of the Company. Whenever required under this Agreement
to effect the registration of any Registrable Securities, the Company shall, as
expeditiously and reasonably possible:

                  (a) Prepare and file with the Securities and Exchange
Commission ("SEC") a Registration Statement with respect to such Registrable
Securities and use its best efforts to cause such Registration Statement to
become effective and to remain effective during the Registration Period.

                  (b) Prepare and file with the SEC such amendments (including
post-effective amendments) and supplements to such Registration Statement and
the prospectus used in connection with such Registration Statement ("Amended
Registration Statement") or prepare and file any additional registration
statement ("Additional Registration Statement," together with the Amended
Registration Statement, "Supplemental Registration Statements") as may be
necessary to comply with the provisions of the Securities Act with respect to
the disposition of all Registrable Securities covered by such Supplemental
Registration Statements or such Registration Statement. The Company shall use
its best efforts to have any Supplemental Registration Statement become
effective as soon as practicable following the filing thereof.

                  (c) Furnish to the Holders such numbers of copies of a
prospectus, including a preliminary prospectus (if applicable), in conformity
with the requirements of the Securities Act, and such other documents as they
may reasonably request in order to facilitate the disposition of Registrable
Securities owned by them.

                  (d) Use its best efforts, if necessary, to register and
qualify the securities covered by such Registration Statement under such other
securities or Blue Sky laws of the jurisdictions in which the Holders are
located, of such other jurisdictions as shall be reasonably requested by the
Holders of the Registrable Securities covered by such Registration Statement,
provided that the Company shall not be required in connection therewith or as a
condition thereto to qualify to do business or to file a general consent to
service of process in any such states or jurisdictions.

                  (e) As promptly as practicable after becoming aware of such
event, notify each Holder of Registrable Securities of the happening of any
event of which the Company has knowledge, as a result of which the prospectus
included in the Registration Statement,

                                        3

<PAGE>

as then in effect, includes an untrue statement of a material fact or omits to
state a material fact required to be stated therein or necessary to make the
statements therein, in light of the circumstances under which they were made,
not misleading, use its best efforts promptly to prepare a supplement or
amendment to the Registration Statement to correct such untrue statement or
omission, and deliver a number of copies of such supplement or amendment to each
Holder as such Holder may reasonably request.

                  (f) Provide Holders with notice of the date that a
Registration Statement or any Supplemental Registration Statement registering
the resale of the Registrable Securities is declared effective by the SEC, and
the date or dates when the Registration Statement is no longer effective.

         4. Furnish Information. At the Company's request, each Holder shall
furnish to the Company such information regarding Holder, the Registrable
Securities held by it, and the intended method of disposition of such securities
to the extent required to effect the registration of its Registrable Securities
or to determine that registration is not required pursuant to Rule 144 or other
applicable provision of the Securities Act. The Company shall include all
information provided by such Holder pursuant hereto in the Registration
Statement, substantially in the form supplied, except to the extent such
information is not permitted by law.

         5. Expenses. All expenses, other than commissions and fees and expenses
of counsel and other advisors to the selling Holders, incurred in connection
with registrations, filings or qualifications pursuant hereto, including
(without limitation) all registration, filing and qualification fees, printers'
and accounting fees, fees and disbursements of counsel for the Company, shall be
borne by the Company.

         6. Amendments to Registration Rights. Any provision of this Agreement
may be amended and the observance thereof may be waived (either generally or in
a particular instance and either retroactively or prospectively), only with the
written consent of the Company and the written consent of each Holder affected
thereby. Any amendment or waiver effected in accordance with this paragraph
shall be binding upon each Holder, each future Holder, and the Company.

         7. Notices. All notices required or permitted under this Agreement
shall be made in writing signed by the party making the same, shall specify the
section under this Agreement pursuant to which it is given, and shall be
addressed if to (i) the Company at: Red Bell Brewing Company, 3100 Jefferson
Street, Philadelphia, PA 19121, Attn. James R. Bell, President (or such other
location as directed by the Company in writing) and (ii) the Holders at their
respective last address as the party as shown on the records of the Company. Any
notice, except as otherwise provided in this Agreement, shall be made by fax and
shall be deemed given at the time of transmission of the fax.

         8. Termination. This Agreement shall terminate on the date all
Registrable Securities cease to exist (as that term is defined in Section 2.1
hereof).

                                        4

<PAGE>

         9. Assignment. No assignment, transfer or delegation, whether by
operation of law or otherwise, of any rights or obligations under this Agreement
by the Company or any Holder, respectively, shall be made without the prior
written consent of the majority in interest of the Holders or the Company,
respectively, and the Company hereby agrees to file an amended registration
statement including such transferee as a selling security holder thereunder; and
provided further that the Company may transfer its rights and obligations under
this Agreement to a purchaser of all or a substantial portion of its business if
the obligations of the Company under this Agreement are assumed in connection
with such transfer, either by merger or other operation of law (which may
include without limitation a transaction whereby the Registrable Securities are
converted into securities of the successor in interest) or by specific
assumption executed by the transferee.

         10. Indemnification. In the event any Registrable Securities are
included in a Registration Statement under this Agreement:

                  (a) To the extent permitted by law, the Company will indemnify
and hold harmless each Holder, the officers, directors, and partners, of each
Holder, any underwriter (as defined in the Securities Act, or as deemed by the
Securities Exchange Commission, or as indicated in a registration statement) for
such Holder and each person, if any, who controls such Holder or underwriter
within the meaning of Section 15 of the Securities Act or the Exchange Act,
against any losses, claims, damages, or liabilities (joint or several) to which
they may become subject under the Securities Act, the Exchange Act or other
federal or state law, insofar as such losses, claims, damages, or liabilities
(or actions in respect thereof) arise out of or are based upon any of the
following statements or omissions: (I) any untrue statement or alleged untrue
statement of a material fact contained in such registration statement, including
any preliminary prospectus or final prospectus contained therein or any
amendments or supplements thereto, or (ii) the omission or alleged omission to
state therein a material fact required to be stated therein, or necessary to
make the statements therein not misleading, and the Company will reimburse each
such Holder, officer or director, underwriter or controlling person for any
legal or other expenses reasonably incurred by them in connection with
investigating or defending any such loss, claim, damage, liability, or action;
provided, however, that the indemnity agreement contained in this subsection
10(a) shall not apply to amounts paid in settlement of any such loss, claim,
damage, liability, or action if such settlement is effected without the consent
of the Company (which consent shall not be unreasonably withheld), nor shall the
Company be liable in any such case for any such loss, claim, damage, liability,
or action to the extent that it arises out of or is based upon a violation which
occurs in reliance upon and in conformity with written information furnished
expressly for use in connection with such registration by any such Holder,
officer, director, underwriter or controlling person; provided however, that the
above shall not relieve the Company from any other liabilities which it might
otherwise have.

                  (b) The Holder of any securities included in such registration
being effected shall indemnify and hold harmless the Company, its directors and
officers, each underwriter and each other person, if any, who controls (within
the meaning of the Securities

                                        5

<PAGE>

Act or Exchange Act) the Company or such other indemnified party, against any
losses, claims, damages, or liability, joint or several, to which any such
indemnified party may become subject under the Securities Act or the Exchange
Act or any other statute or at common law, insofar as such liability (or actions
in respect thereof) arises out of or is based upon any of the following
statements or omissions (I) any untrue statement or alleged untrue statement of
any material fact contained, on the effective date thereof, in any registration
statement under which securities were registered under the Securities Act at the
request of such Holder, any preliminary prospectus or final prospectus contained
therein, or any amendment or supplement thereto, or (ii) any omission or alleged
omission by such Holder to state therein a material fact required to be stated
therein or necessary to make the statements therein not misleading, to the
extent, but only to the extent, that such untrue statement or alleged untrue
statement or omission or alleged omission was made in such registration
statement, preliminary or final prospectus, amendment or supplement thereto in
reliance upon and in conformity with information furnished in writing to the
Company by such Holder specifically for use therein. Such Holder shall reimburse
any indemnified party for any legal fees or other expenses incurred in
investigating or defending any such loss, claim, damage, action, or liability;
and provided further, that no Holder shall be required to indemnify any party
against any liability arising from any untrue or misleading statement or
omission contained in any preliminary prospectus if such deficiency is corrected
in the final prospectus or for any liability which arises out of the failure of
such party to deliver a prospectus as required by the Securities Act.

                  (c) Promptly after receipt by an indemnified party under this
Section 10 of notice of the commencement of any action (including any
governmental action), such indemnified party will, if a claim in respect thereof
is to be made against any indemnifying party under this Section 10, deliver to
the indemnifying party a written notice of the commencement thereof and the
indemnifying party shall have the right to participate in, and, to the extent
the indemnifying party so desires, jointly with any other indemnifying party
similarly noticed, to assume, the defense thereof with counsel mutually
satisfactory to the parties; provided, however, that an indemnified party shall
have the right to retain its own counsel, with the reasonably incurred fees and
expenses of one such counsel to be paid by the indemnifying party, if
representation of such indemnified party by the counsel retained by the
indemnifying party would be inappropriate due to actual or potential conflicting
interests between such indemnified party and any other party represented by such
counsel in such proceeding. The failure to deliver written notice to the
indemnifying party within a reasonable time of the commencement of any such
action, if materially prejudicial to its ability to defend such action, shall
relieve such indemnifying party of any liability to the indemnified party under
this Section 10, but the omission so to deliver written notice to the
indemnifying party will not relieve it of any liability that it may have to any
indemnified party otherwise than under this Section 10.

                  (d) In the event that the indemnity provided in paragraphs (a)
and/or (b) of this Section 10 is unavailable to or insufficient to hold harmless
an indemnified party for any reason, the Company and each Holder agree to
contribute to the aggregate claims, losses, damages and liabilities (including
legal or other expenses reasonably incurred in connection

                                        6

<PAGE>

with investigating or defending same) (collectively "Losses") to which the
Company and one or more of the Holders may be subject in such proportion as is
appropriate to reflect the relative fault of the Company and the Holders in
connection with the statements or omissions which resulted in such Losses.
Relative fault shall be determined by reference to whether any alleged untrue
statement or omission relates to information provided by the Company or by the
Holders. The Company and the Holders agree that it would not be just and
equitable if contribution were determined by pro rata allocation or any other
method of allocation that does not take account of the equitable considerations
referred to above. Notwithstanding the provisions of this paragraph (d), no
person guilty of fraudulent misrepresentation (within the meaning of Section
11(f) of the Securities Act) shall be entitled to contribution from any person
who was not guilty of such fraudulent misrepresentation. For purposes of this
Section 10, each person who controls a Holder of Registrable Securities within
the meaning of either the Securities Act or the Exchange Act and each director,
officer, partner, employee and agent of a Holder shall have the same rights to
contribution as such holder, and each person who controls the Company within the
meaning of either the Securities Act or the Exchange Act and each director and
officer of the Company shall have the same rights to contribution as the
Company, subject in each case to the applicable terms and conditions of this
paragraph (d).

                  (e) The obligations of the Company and Holders under this
Section 10 shall survive the resale, if any, of the Common Stock, the completion
of any offering of Registrable Securities in a Registration Statement under this
Agreement, and otherwise.

         11. Governing Law. This Agreement shall be governed by and construed in
accordance with the laws of the State of Pennsylvania applicable to agreements
made in and wholly to be performed in that jurisdiction, except for matters
arising under the Securities Act or the Exchange Act, which matters shall be
construed and interpreted in accordance with such laws.

         12. Execution in Counterparts Permitted. This Agreement may be executed
in any number of counterparts, each of which shall be enforceable against the
parties actually executing such counterparts, and all of which together shall
constitute one (1) instrument.

         13. Entire Agreement; Written Amendments Required. This Agreement
constitutes the full and entire understanding and agreement between the parties
with regard to the subject hereof, and no party shall be liable or bound to any
other party in any manner by any warranties, representations or covenants except
as specifically set forth herein. Except as expressly provided herein, neither
this Agreement nor any term hereof may be amended, waived, discharged or
terminated other than by a written instrument signed by the party against whom
enforcement of any such amendment, waiver, discharge or termination is sought.

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

                                        7

<PAGE>

                                            RED BELL BREWING COMPANY

                                            By: /s/ James R. Bell
                                               ---------------------------------
                                            James R. Bell, President

                                            Address:3100 Jefferson Street
                                                    Philadelphia, PA 19121

                                            INVESTOR:
                                            CDB FINANCE CORPORATION

                                            By: /s/
                                               ---------------------------------

                                            Address: The Pavilion
                                                     Suite 517
                                                     261 Old York Road
                                                     Jenkintown, PA 19046

                                        8

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00027-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00027-of-00352.parquet"}]]