Document:

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                                                                     EXHIBIT 4.6

             FORM OF FIRST SUPPLEMENTAL INDENTURE, DATED AS OF JULY
         21, 2000, BETWEEN COMMEMORATIVE BRANDS, INC. AND HSBC BANK USA
                           (F/K/A MARINE MIDLAND BANK)

<Page>

          FIRST SUPPLEMENTAL INDENTURE, dated as of July 21, 2000, between
Commemorative Brands, Inc. (formerly known as Scholastic Brands, Inc.), a
Delaware corporation, as issuer (the "Company"), and HSBC Bank USA (formerly
known as Marine Midland Bank), a New York banking corporation, as trustee (the
"Trustee").

          WHEREAS, the Company heretofore executed and delivered to the Trustee
an Indenture dated as of December 16, 1996 (the "Original Indenture" and, as it
may be amended or supplemented from time to time by one or more indentures
supplemental thereto entered into pursuant to the applicable provisions thereof,
the "Indenture"), providing for the issuance of the Company's 11% Senior
Subordinated Notes due 2007 (the "Notes");

          WHEREAS, there are now outstanding under the Indenture, Notes in the
aggregate principal amount of $90,000,000;

          WHEREAS, Section 9.2 of the Indenture provides that the Company and
the Trustee may amend or supplement the Indenture with the written consent of
the holders of at least a majority in the aggregate principal amount of the
Notes then outstanding (the "Majority Holders");

          WHEREAS, the Company desires to amend certain provisions of the
Indenture, as set forth in Article One hereof;

          WHEREAS, Tri-Links Investment Trust, a Majority Holder who owns
$48.645 million face amount of the Notes has consented to the amendments
effected by this First Supplemental Indenture; and

          WHEREAS, all things necessary to make this First Supplemental
Indenture a valid agreement, in accordance with its terms, have been done.

          NOW, THEREFORE, THIS FIRST SUPPLEMENTAL INDENTURE WITNESSETH, that,
for and in consideration of the promises, it is mutually covenanted and agreed,
for the equal and proportionate benefit of all holders of Notes, as follows:

                                   ARTICLE ONE

                        Amendments to Original Indenture

          Section 1.1 AMENDMENTS TO ARTICLE ONE, ARTICLE FOUR, ARTICLE FIVE AND
SIX.

          (a) Sections 4.3, 4.7, 4.8, 4.9, 4.11, 4.12, 4.16, 4.17, 4.18, 4.19,
4.20, 4.21, and 5.1 (provided, however, that the last sentence of Section 5.1
shall not be deleted and shall remain in effect) of the Original Indenture are
hereby amended by deleting all such sections, and all related definitions (to
the extent not applicable to other sections of the Indenture) and any references
thereto, in their entirety.

                                       -2-
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          (b) Section 6.1 is hereby amended to delete clauses (d) and (e) from
the definition of "Event of Default."

                                   ARTICLE TWO

                                  Miscellaneous

          Section 2.1  INSTRUMENTS TO BE READ TOGETHER. This First Supplemental
Indenture is an indenture supplemental to the Original Indenture, and said
Original Indenture and this First Supplemental Indenture shall henceforth be
read together.

          Section 2.2  CONFIRMATION. The Original Indenture as amended and
supplemented by this First Supplemental Indenture is in all respects confirmed
and preserved.

          Section 2.3  TERMS DEFINED. Capitalized terms used in this First
Supplemental Indenture and not otherwise defined herein shall have the
respective meanings set forth in the Original Indenture.

          Section 2.4  HEADINGS. The headings of the Articles and Sections of
this First Supplemental Indenture have been inserted for convenience of
reference only, and are not to be considered a part hereof and shall in no way
modify or restrict any of the terms and provisions hereof.

          Section 2.5  GOVERNING LAW. The laws of the State of New York shall
govern this First Supplemental Indenture.

          Section 2.6  COUNTERPARTS. This First Supplemental Indenture may be
executed in any number of counterparts, each of which so executed shall be
deemed to be an original, but all such counterparts shall together constitute
but one and the same instrument.

          Section 2.7  EFFECTIVENESS. The provisions of this First Supplemental
Indenture will take effect immediately upon its execution and delivery by the
Trustee in accordance with the provisions of Sections 9.2 and 9.6 of the
Indenture.

          Section 2.8  ACCEPTANCE BY TRUSTEE. The Trustee accepts the amendments
to the Indenture effected by this First Supplemental Indenture.

          Section 2.9  CERTAIN DUTIES AND RESPONSIBILITIES OF THE TRUSTEE. In
entering into this First Supplemental Indenture, the Trustee shall be entitled
to the benefit of every provision of the Indenture and the Notes relating to the
conduct or affecting the liability or affording protection to the Trustee,
whether or not elsewhere herein so provided. The Trustee shall not be
responsible in any manner for or in respect of the validity or sufficiency of
this First Supplemental Indenture or for or in respect of the recitals contained
herein, all of which are made by the Company.

          Section 2.10 TRUSTEE DOCUMENTS. On or before the date hereof, the
Company shall deliver to the Trustee pursuant to the Indenture, (a) the Board
resolutions, (b) an Officer's Certificate, and (c) an Opinion of Counsel.

                                       -3-
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          IN WITNESS WHEREOF, the parties hereto have caused this First
Supplemental Indenture to be duly executed, all as of the date first written
above.

                                                 COMMEMORATIVE BRANDS, INC.

                                                 By: /s/ David G. Fiore
                                                    ----------------------------
                                                     David G. Fiore
                                                     President

                                                 HSBC BANK USA, as Trustee

                                                 By:
                                                    ----------------------------
                                                     Name:
                                                     Title:

                                       -4-<Page>

                                                                    EXHIBIT 10.1

         CREDIT AGREEMENT, DATED AS OF FEBRUARY 20, 2002, AMONG AMERICAN
           ACHIEVEMENT CORPORATION, AS THE BORROWER, THE LENDERS PARTY
        THERETO AND THE BANK OF NOVA SCOTIA, AS THE ADMINISTRATIVE AGENT
                                 FOR THE LENDERS

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                                CREDIT AGREEMENT,

                         dated as of February 20, 2002,

                                      among

                        AMERICAN ACHIEVEMENT CORPORATION,

                                as the Borrower,

                VARIOUS FINANCIAL INSTITUTIONS AND OTHER PERSONS
                        FROM TIME TO TIME PARTIES HERETO,
                                 as the Lenders,

                      GENERAL ELECTRIC CAPITAL CORPORATION,

                    as the Syndication Agent for the Lenders,

                             BANKERS TRUST COMPANY,

                   as the Documentation Agent for the Lenders,

                                       and

                            THE BANK OF NOVA SCOTIA,

                  as the Administrative Agent for the Lenders.

                       ----------------------------------

                            THE BANK OF NOVA SCOTIA,

                   as Sole Lead Arranger and Sole Book Runner

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                                    ARTICLE I
                        DEFINITIONS AND ACCOUNTING TERMS

<Table>
<S>                                                                                                    <C>
SECTION 1.1.     Defined Terms..........................................................................2

SECTION 1.2.     Use of Defined Terms..................................................................31

SECTION 1.3.     Cross-References......................................................................31

SECTION 1.4.     Accounting Terms; Utilization of GAAP for Purposes of Calculations Under
                 Agreement.............................................................................31

                                   ARTICLE II
            COMMITMENTS, BORROWING AND ISSUANCE PROCEDURES, NOTES AND
                                LETTERS OF CREDIT

SECTION 2.1.     Commitments...........................................................................32

         SECTION 2.1.1.     Revolving Loan Commitment and Swing Line Loan Commitment...................32

         SECTION 2.1.2.     Letter of Credit Commitment................................................32

SECTION 2.2.     Reduction of the Commitment Amounts...................................................33

         SECTION 2.2.1.     Optional...................................................................33

SECTION 2.3.     Borrowing Procedures..................................................................33

         SECTION 2.3.1.     Borrowing Procedure........................................................33

         SECTION 2.3.2.     Swing Line Loans...........................................................34

SECTION 2.4.     Continuation and Conversion Elections.................................................35

SECTION 2.5.     Funding...............................................................................35

SECTION 2.6.     Issuance Procedures...................................................................35

         SECTION 2.6.1.     Other Lenders' Participation...............................................35

         SECTION 2.6.2.     Disbursements..............................................................36

         SECTION 2.6.3.     Reimbursement..............................................................36

         SECTION 2.6.4.     Deemed Disbursements.......................................................37

         SECTION 2.6.5.     Nature of Reimbursement Obligations........................................37

SECTION 2.7.     Notes.................................................................................38

                                   ARTICLE III
                   REPAYMENTS, PREPAYMENTS, INTEREST AND FEES

SECTION 3.1.     Repayments and Prepayments; Application...............................................38

         SECTION 3.1.1.     Repayments and Prepayments.................................................38

         SECTION 3.1.2.     Application................................................................39

SECTION 3.2.     Interest Provisions...................................................................40
</Table>

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<Table>
<S>                                                                                                    <C>
         SECTION 3.2.1.     Rates......................................................................40

         SECTION 3.2.2.     Post-Maturity Rates........................................................40

         SECTION 3.2.3.     Payment Dates..............................................................40

SECTION 3.3.     Fees..................................................................................41

         SECTION 3.3.1.     Utilization Fee............................................................41

         SECTION 3.3.2.     Agent's Fee................................................................41

         SECTION 3.3.3.     Letter of Credit Fee.......................................................41

                                   ARTICLE IV
                     CERTAIN LIBO RATE AND OTHER PROVISIONS

SECTION 4.1.     LIBO Rate Lending Unlawful............................................................41

SECTION 4.2.     Deposits Unavailable..................................................................42

SECTION 4.3.     Increased LIBO Rate Loan Costs, etc...................................................42

SECTION 4.4.     Funding Losses........................................................................43

SECTION 4.5.     Increased Capital Costs...............................................................43

SECTION 4.6.     Taxes.................................................................................44

SECTION 4.7.     Payments, Computations, etc...........................................................46

SECTION 4.8.     Sharing of Payments...................................................................47

SECTION 4.9.     Setoff................................................................................47

                                    ARTICLE V
                         CONDITIONS TO CREDIT EXTENSIONS

SECTION 5.1.     Initial Credit Extension..............................................................48

         SECTION 5.1.1.     Resolutions, etc...........................................................48

         SECTION 5.1.2.     Closing Date Certificate...................................................48

         SECTION 5.1.3.     Issuance of Senior Unsecured Notes.........................................48

         SECTION 5.1.4.     Payment of Outstanding Indebtedness, etc...................................49

         SECTION 5.1.5.     Closing Fees, Expenses, etc................................................49

         SECTION 5.1.6.     Financial Information, etc.................................................49

         SECTION 5.1.7.     Compliance Certificate.....................................................49

         SECTION 5.1.8.     Opinions of Counsel........................................................49

         SECTION 5.1.9.     Filing Agent, etc..........................................................50

         SECTION 5.1.10.    Subsidiary Guaranty........................................................50

         SECTION 5.1.11.    Solvency, etc..............................................................50

         SECTION 5.1.12.    Pledge and Security Agreements.............................................50
</Table>

<Page>

<Table>
<S>                                                                                                    <C>
         SECTION 5.1.13.    Patent Security Agreement, Copyright Security Agreement and Trademark
                            Security Agreement.........................................................51

         SECTION 5.1.14.    Insurance..................................................................51

         SECTION 5.1.15.    Mortgages..................................................................52

         SECTION 5.1.16.    Intercreditor Agreement....................................................52

         SECTION 5.1.17.    Delivery of Notes..........................................................52

         SECTION 5.1.18.    Revolving Loan Commitment Amount Availability..............................52

         SECTION 5.1.19.    CBI Indenture Acknowledgment...............................................52

SECTION 5.2.     All Credit Extensions.................................................................52

         SECTION 5.2.1.     Compliance with Warranties, No Default, etc................................52

         SECTION 5.2.2.     Credit Extension Request, etc..............................................53

         SECTION 5.2.3.     Satisfactory Legal Form....................................................53

                                   ARTICLE VI
                         REPRESENTATIONS AND WARRANTIES

SECTION 6.1.     Organization, Powers, Capitalization and Good Standing................................53

SECTION 6.2.     Due Authorization, Non-Contravention, etc.............................................54

SECTION 6.3.     Government Approval, Regulation, etc..................................................55

SECTION 6.4.     Intellectual Property.................................................................55

SECTION 6.5.     Financial Statements and Projections..................................................55

SECTION 6.6.     No Material Adverse Change............................................................56

SECTION 6.7.     Litigation:  Adverse Effects..........................................................56

SECTION 6.8.     Solvency..............................................................................56

SECTION 6.9.     Taxes.................................................................................56

SECTION 6.10.    Environmental Warranties..............................................................56

SECTION 6.11.    Disclosure............................................................................57

SECTION 6.12.    Use of Proceeds:  Margin Regulations..................................................58

SECTION 6.13.    CBI Senior Subordinated Notes.........................................................58

SECTION 6.14.    No Default............................................................................58

SECTION 6.15.    Investigations, Audits, etc...........................................................58

SECTION 6.16.    Employee Matters......................................................................58

                                   ARTICLE VII
                                    COVENANTS

SECTION 7.1.     Affirmative Covenants.................................................................59
</Table>

<Page>

<Table>
<S>                                                                                                    <C>
         SECTION 7.1.1.     Financial Statements and Other Reports.....................................59

         SECTION 7.1.2.     Compliance With Laws and Contractual Obligations...........................62

         SECTION 7.1.3.     Maintenance of Properties; Insurance.......................................62

         SECTION 7.1.4.     Inspection; Lender Meeting.................................................63

         SECTION 7.1.5.     Corporate/Limited Partnership Existence....................................64

         SECTION 7.1.6.     Environmental Law Covenant.................................................64

         SECTION 7.1.7.     Use of Proceeds............................................................64

         SECTION 7.1.8.     Further Assurances.........................................................65

         SECTION 7.1.9.     Landlord Estoppel Letters..................................................66

         SECTION 7.1.10.    Title Insurance............................................................66

SECTION 7.2.     Negative Covenants....................................................................66

         SECTION 7.2.1.     Conduct of Business........................................................66

         SECTION 7.2.2.     Indebtedness...............................................................66

         SECTION 7.2.3.     Liens and Related Matters..................................................68

         SECTION 7.2.4.     Financial Condition and Operations.........................................70

         SECTION 7.2.5.     Investments; Joint Ventures................................................71

         SECTION 7.2.6.     Restricted Junior Payments.................................................72

         SECTION 7.2.7.     Capital Expenditures, etc..................................................73

         SECTION 7.2.8.     Contingent Liabilities.....................................................74

         SECTION 7.2.9.     Issuance of Capital Securities.............................................75

         SECTION 7.2.10.    Restriction on Fundamental Changes.........................................75

         SECTION 7.2.11.    Disposal of Assets or Subsidiary Stock.....................................75

         SECTION 7.2.12.    Changes Relating to Indebtedness/Gold Consignment Agreement................77

         SECTION 7.2.13.    Transactions with Affiliates...............................................78

         SECTION 7.2.14.    No Restrictions on Subsidiary Distributions to Obligors....................79

         SECTION 7.2.15.    Sale and Leaseback; Landlord Waiver........................................80

         SECTION 7.2.16.    Subsidiaries...............................................................80

         SECTION 7.2.17.    Accounting Changes.........................................................80

                                  ARTICLE VIII
                                EVENTS OF DEFAULT

SECTION 8.1.     Listing of Events of Default..........................................................80

         SECTION 8.1.1.     Payment....................................................................80
</Table>

<Page>

<Table>
<S>                                                                                                    <C>
         SECTION 8.1.2.     Breach of Warranty.........................................................81

         SECTION 8.1.3.     Breach of Certain Provisions...............................................81

         SECTION 8.1.4.     Other Defaults Under Loan Documents........................................81

         SECTION 8.1.5.     Default in Other Agreements................................................81

         SECTION 8.1.6.     Judgments and Attachments..................................................81

         SECTION 8.1.7.     ERISA; Pension Plans.......................................................82

         SECTION 8.1.8.     Change in Control..........................................................82

         SECTION 8.1.9.     Involuntary Bankruptcy; Appointment of Receiver, etc.......................82

         SECTION 8.1.10.    Failure of Security........................................................82

         SECTION 8.1.11.    Failure of Subordination...................................................83

         SECTION 8.1.12.    Damages; Casualty..........................................................83

         SECTION 8.1.13.    Licenses and Permits.......................................................83

         SECTION 8.1.14.    Change of Control/Asset Sale Under CBI Indenture...........................83

         SECTION 8.1.15.    Net Operating Losses.......................................................83

         SECTION 8.1.16.    Injunction.................................................................83

         SECTION 8.1.17.    Environmental Matters......................................................84

         SECTION 8.1.18.    Dissolution................................................................84

         SECTION 8.1.19.    Solvency...................................................................84

         SECTION 8.1.20.    Invalidity of Loan Documents...............................................84

         SECTION 8.1.21.    Event of Default under Gold Consignment Agreement..........................84

         SECTION 8.1.22.    Conduct of Business........................................................84

SECTION 8.2.     Action if Bankruptcy..................................................................84

SECTION 8.3.     Action if Other Event of Default......................................................84

                                   ARTICLE IX
                            THE ADMINISTRATIVE AGENT

SECTION 9.1.     Actions...............................................................................85

SECTION 9.2.     Funding Reliance, etc.................................................................85

SECTION 9.3.     Exculpation...........................................................................86

SECTION 9.4.     Successor.............................................................................86

SECTION 9.5.     Loans by Scotia Capital...............................................................87

SECTION 9.6.     Credit Decisions......................................................................87

SECTION 9.7.     Copies, etc...........................................................................87

SECTION 9.8.     Reliance by Administrative Agent......................................................87
</Table>

<Page>

<Table>
<S>                                                                                                    <C>
SECTION 9.9.     Defaults..............................................................................88

SECTION 9.10.    Other Agents..........................................................................88

                                    ARTICLE X
                            MISCELLANEOUS PROVISIONS

SECTION 10.1.    Waivers, Amendments, etc..............................................................88

SECTION 10.2.    Notices; Time.........................................................................89

SECTION 10.3.    Payment of Costs and Expenses.........................................................90

SECTION 10.4.    Indemnification.......................................................................90

SECTION 10.5.    Survival..............................................................................91

SECTION 10.6.    Severability..........................................................................91

SECTION 10.7.    Headings..............................................................................92

SECTION 10.8.    Execution in Counterparts, Effectiveness, etc.........................................92

SECTION 10.9.    Governing Law; Entire Agreement.......................................................92

SECTION 10.10.   Successors and Assigns................................................................92

SECTION 10.11.   Sale and Transfer of Credit Extensions; Participations in Credit Extensions
                 and Notes.............................................................................92

         SECTION 10.11.1.   Assignments................................................................92

         SECTION 10.11.2.   Participations.............................................................94

SECTION 10.12.   Other Transactions....................................................................96

SECTION 10.13.   Forum Selection and Consent to Jurisdiction...........................................96

SECTION 10.14.   Waiver of Jury Trial..................................................................96
</Table>

SCHEDULE I       -       Disclosure Schedule
SCHEDULE II      -       Percentages; LIBOR Office; Domestic Office

EXHIBIT A-1      -       Form of Revolving Note
EXHIBIT A-2      -       Form of Swing Line Note
EXHIBIT B-1      -       Form of Borrowing Request
EXHIBIT B-2      -       Form of Issuance Request
EXHIBIT B-3      -       Form of Borrowing Base Certificate
EXHIBIT C        -       Form of Continuation/Conversion Notice
EXHIBIT D        -       Form of Borrower Closing Date Certificate
EXHIBIT E        -       Form of Compliance Certificate
EXHIBIT F        -       Form of Subsidiary Guaranty
EXHIBIT G-1      -       Form of Borrower Pledge and Security Agreement
EXHIBIT G-2      -       Form of Subsidiary Pledge and Security Agreement
EXHIBIT H        -       Form of Deed of Trust
EXHIBIT I        -       Form of Interco Subordination Agreement

<Page>

EXHIBIT J        -       Form of Lender Assignment Agreement
EXHIBIT K        -       Form of Intercreditor Agreement

<Page>

                                CREDIT AGREEMENT

     THIS CREDIT AGREEMENT, dated as of February 20, 2002, is among AMERICAN
ACHIEVEMENT CORPORATION (formerly known as COMMEMORATIVE BRANDS HOLDING CORP.),
a Delaware corporation (the "BORROWER"), the various financial institutions and
other Persons from time to time parties hereto (the "LENDERS"), General Electric
Capital Corporation, as the syndication agent for the Lenders (the "SYNDICATION
AGENT"), BANKERS TRUST COMPANY, as the documentation agent for the Lenders (the
"DOCUMENTATION AGENT") and THE BANK OF NOVA SCOTIA ("SCOTIA CAPITAL"), as
administrative agent (in such capacity, the "ADMINISTRATIVE AGENT") for the
Lenders and as the Sole Lead Arranger and Sole Book Runner.

                              W I T N E S S E T H:

     WHEREAS, the Borrower intends to refinance (the "REFINANCING") existing
Indebtedness of the Borrower and certain of its Subsidiaries in an amount equal
to $176,791,846.57, consisting of (i) $138,742,516.98 outstanding under that
certain Second Amended and Restated Credit Agreement, dated as of March 30,
2001, entered into by and among Commemorative Brands, Inc., a Delaware
corporation ("CBI"), TP Holding Corp. (f/k/a TP Acquisition Corp.), a Delaware
corporation ("TAYLOR HOLDING CO."), Taylor Publishing Company, a Delaware
corporation ("TAYLOR GENERAL PARTNER"), Taylor Production Services Company,
L.P., a Delaware limited partnership ("TAYLOR"), Educational Communications,
Inc., an Illinois corporation ("ECI", and collectively with CBI, Taylor Holding
Co., Taylor General Partner and Taylor, the "EXISTING BORROWERS", and
individually, each an "EXISTING BORROWER"), the lenders party thereto, Heller
Financial, Inc., as administrative agent to the lenders thereunder, Key
Corporate Capital, Inc., as syndication agent to the lenders thereunder, and
Scotia Capital, as documentation agent to the lenders thereunder (the "EXISTING
CREDIT AGREEMENT"), (ii) $28,382,918.10 of subordinated debt outstanding owed to
CHP III under (A) two promissory notes issued by Taylor Holding Co. the
aggregate principal amount of approximately $18,500,000 and (B) a promissory
note issued by the Borrower in the principal amount of approximately $9,200,000
(collectively, the "EXISTING PROMISSORY NOTES"), (iii) settlement amounts in the
aggregate amount of $1,706,766 owed by the Borrower and its Subsidiaries with
respect to certain interest rate swap agreements (the "SWAP AMOUNTS"), and (iv)
fees and expenses related to the consummation of the Refinancing and the
transactions contemplated hereby and thereby, in the aggregate amount of
approximately $7,959,645.49;

     WHEREAS, in order to consummate the Refinancing, the Borrower intends to
issue 115/8% Senior Unsecured Notes due 2007 in an original principal amount
equal to $177,000,000 (the "SENIOR UNSECURED NOTES"), pursuant to the Indenture;

     WHEREAS, in order to consummate the Refinancing and to provide for the
general corporate and working capital needs of the Borrower and certain of its
Subsidiaries, the Borrower desires to obtain from the Lenders a (a) Revolving
Loan Commitment and (b) Swing Line Loan Commitment (which shall be a
sub-facility of the Revolving

<Page>

Loan Commitment) and, from the Issuers, a Letter of Credit Commitment (which
shall be a sub-facility of the Revolving Loan Commitment), with all the proceeds
of such Credit Extensions to be used for one or more of the purposes specified
in SECTION 7.1.7; and

     WHEREAS, the Lenders and the Issuers are willing, on the terms and subject
to the conditions hereinafter set forth, to extend the Commitments and make
Loans to the Borrower and issue (or participate in) Letters of Credit;

     NOW, THEREFORE, the parties hereto agree as follows.

                                   ARTICLE I
                        DEFINITIONS AND ACCOUNTING TERMS

SECTION 1.1. DEFINED TERMS. The following terms (whether or not underscored)
     when used in this Agreement, including its preamble and recitals, shall,
     except where the context otherwise requires, have the following meanings
     (such meanings to be equally applicable to the singular and plural forms
     thereof):

     "ACCOUNT" means any account (as that term is defined in SECTION
9-102(a)(2)(i) of the UCC) of the Borrower or any of its wholly owned U.S.
Subsidiaries arising from the sale or lease of goods or rendering of services.

     "ACCOUNT CONTROL AGREEMENT" means the control agreement executed and
delivered by each of Taylor Holding Co., the Administrative Agent, and State
Street Bank and Trust Company, in form and substance satisfactory to the
Administrative Agent.

     "ACCOUNTING CHANGES" means: (a) changes in accounting principles required
by GAAP and implemented by the Borrower or any of its Subsidiaries and (b)
changes in accounting principles recommended by the Borrower's certified public
accountants and implemented by the Borrower or any of its Subsidiaries.

     "ADDITIONAL EQUITY" means the amount of cash received by the Borrower
following the Closing Date in consideration for the issuance of its Capital
Securities (other than Disqualified Capital Securities).

     "ADMINISTRATIVE AGENT" is defined in the PREAMBLE and includes each other
Person appointed as the successor Administrative Agent pursuant to SECTION 9.4.

     "AFFILIATE" means as to any Person: (a) each person directly or indirectly
controlling, controlled by, or under common control with such Person; (b) each
Person that, directly or indirectly owns or holds ten percent (10%) or more of
whose voting stock or other equity interest is directly or indirectly owned or
held by such Person. For purposes of this definition, "CONTROL" (including with
correlative meanings, the terms "CONTROLLING", "CONTROLLED BY" and "UNDER COMMON
CONTROL WITH") means the possession directly or indirectly of the power to
direct or cause the direction of the management and policies of a Person,
whether through the ownership of voting securities or by contract or otherwise.

                                       -2-
<Page>

     "AGREEMENT" means, on any date, this Credit Agreement as originally in
effect on the Effective Date and as thereafter from time to time amended,
supplemented, amended and restated or otherwise modified from time to time and
in effect on such date.

     "ALTERNATE BASE RATE" means, on any date and with respect to all Base Rate
Loans, a fluctuating rate of interest per annum (rounded upward, if necessary,
to the next highest 1/16 of 1%) equal to the higher of

          (a) the Base Rate in effect on such day; and

          (b) the Federal Funds Rate in effect on such day plus1/2of 1%.

Changes in the rate of interest on that portion of any Loans maintained as Base
Rate Loans will take effect simultaneously with each change in the Alternate
Base Rate. The Administrative Agent will give notice promptly to the Borrower
and the Lenders of changes in the Alternate Base Rate; PROVIDED, that the
failure to give such notice shall not affect the Alternate Base Rate in effect
after such change.

     "APPLICABLE MARGIN" means the applicable percentage set forth below
corresponding to the relevant Leverage Ratio:

<Table>
<Caption>
                                                                    Applicable                    Applicable
                           Leverage                                 Margin For                    Margin For
                            Ratio                                 Base Rate Loans              LIBO Rate Loans
                            -----                                 ---------------              ---------------
<S>                                                               <C>                          <C>
                         GREATER THAN5.00:1                             3.25%                        4.25%

         GREATER THAN 4.50:1 but LESS THAN OR EQUAL TO 5.00:1           2.75%                        3.75%

         GREATER THAN 4.00:1 but LESS THAN OR EQUAL TO 4.50:1           2.50%                        3.50%

         GREATER THAN 3.50:1 but LESS THAN OR EQUAL TO 4.00:1           2.25%                        3.25%

         GREATER THAN 3.00:1 but LESS THAN OR EQUAL TO 3.50:1           2.00%                        3.00%

                     LESS THAN OR EQUAL TO 3.00:1                       1.50%                        2.50%
</Table>

Notwithstanding anything to the contrary set forth in this Agreement (including
the then effective Leverage Ratio), the Applicable Margin for all Loans from the
Effective Date through (and including) the date (referred to as the "DELIVERY
DATE") of the delivery of the quarterly financial information required pursuant
to CLAUSE (a) of SECTION 7.1.1 in respect of the second full Fiscal Quarter
following the Effective Date shall be at least 3.5% in the case of LIBO Rate
Loans and at least 2.5% in the case of Base Rate Loans. The Leverage Ratio used
to compute the Applicable Margin shall be the Leverage Ratio set forth in the
Compliance Certificate most recently delivered by the Borrower to the
Administrative Agent. Changes in the Applicable Margin resulting from a change
in the Leverage Ratio shall become effective upon delivery by the Borrower to
the Administrative Agent of a new Compliance Certificate pursuant to CLAUSE (c)
of SECTION 7.1.1. If the Borrower shall fail to deliver a Compliance Certificate
within 45 days after the end of any Fiscal Quarter (or within 90 days, in the
case of the last Fiscal Quarter of the

                                      -3-
<Page>

Fiscal Year), the Applicable Margin from and including the 46th (or 91st, as the
case may be) day after the end of such Fiscal Quarter to but not including the
date the Borrower delivers to the Administrative Agent a Compliance Certificate
shall conclusively equal the highest Applicable Margin set forth above.

     "APPLICABLE UTILIZATION FEE MARGIN" means the applicable percentage set
forth below corresponding to the applicable Utilization Ratio:

<Table>
<Caption>

                      Utilization                      Applicable Utilization
                         Ratio                               Fee Margin
                      -----------                            ----------
<S>                                                    <C>
                      GREATER THAN 50%                          0.50%

       GREATER THAN 25% but LESS THAN OR EQUAL TO 50%           0.75%

                  LESS THAN OR EQUAL TO 25%                     1.00%
</Table>

The Utilization Ratio used to compute the Applicable Utilization Fee Margin
shall be determined by the Administrative Agent (which determination shall be
conclusive absent manifest error) following the last day of each Fiscal Quarter,
and shall be assessed for the Fiscal Quarter most recently ended.
Notwithstanding anything to the contrary set forth in this Agreement (including
the immediately preceding sentence), the Applicable Utilization Fee Margin from
the Effective Date through (and including) the Delivery Date shall be at least
..75%.

     "ASSET DISPOSITION" means the Disposition whether by sale, lease, transfer,
loss, damage, destruction, condemnation or otherwise of (a) any of the Capital
Securities of any Subsidiary Guarantor or (b) any or all of the assets of the
Borrower or any Subsidiary Guarantor other than sales of inventory in the
ordinary course of business.

     "ASSIGNEE LENDER" is defined in SECTION 10.11.1.

     "AUTHORIZED OFFICER" means, relative to any Obligor, those of its officers,
general partners or managing members (as applicable) whose signatures and
incumbency shall have been certified to the Administrative Agent, the Lenders
and the Issuers pursuant to SECTION 5.1.1.

     "BANKRUPTCY CODE" means Title 11 of the United States Code entitled
"BANKRUPTCY", as amended from time to time or any applicable bankruptcy,
insolvency or other similar law now or hereafter in effect and all rules and
regulations promulgated thereunder.

     "BASE RATE" means, at any time, the rate of interest then most recently
established by the Administrative Agent in New York as its base rate for Dollars
loaned in the United States. The Base Rate is not necessarily intended to be the
lowest rate of interest determined by the Administrative Agent in connection
with extensions of credit.

     "BASE RATE LOAN" means a Loan bearing interest at a fluctuating rate
determined by reference to the Alternate Base Rate.

     "BORROWER" is defined in the PREAMBLE.

                                       -4-
<Page>

     "BORROWER CLOSING DATE CERTIFICATE" means the closing date certificate
executed and delivered by an Authorized Officer of the Borrower substantially in
the form of EXHIBIT D hereto.

     "BORROWER PLEDGE AND SECURITY AGREEMENT" means the Pledge and Security
Agreement executed and delivered by an Authorized Officer of the Borrower,
substantially in the form of EXHIBIT G-1 hereto, as amended, supplemented,
amended and restated or otherwise modified from time to time.

     "BORROWING" means the Loans of the same type and, in the case of LIBO Rate
Loans, having the same Interest Period made by all Lenders required to make such
Loans on the same Business Day and pursuant to the same Borrowing Request in
accordance with SECTION 2.1.

     "BORROWING BASE AMOUNT" means, at any time, the difference of (x) the Net
Asset Value of all Eligible Accounts and Eligible Inventory at such time as
determined in accordance with the definition of "Net Asset Value", LESS (y) the
then applicable "Account Receivable Reported Amount" (as defined in the
Intercreditor Agreement), in each case as certified by the Borrower to the
Lenders in the most recently delivered Borrowing Base Certificate, including the
Borrowing Base Certificate delivered on the Closing Date pursuant to CLAUSE (c)
of SECTION 5.1.6, LESS (z) any amount deducted from the Borrowing Base Amount to
the extent required pursuant to CLAUSE (b) of SECTION 7.2.15.

     "BORROWING BASE CERTIFICATE" means a certificate, substantially in the form
of EXHIBIT B-3 hereto, duly completed and executed by an Authorized Officer that
is the president, the chief executive officer, the chief financial or accounting
officer, or the treasurer or assistant treasurer of the Borrower (or, prior to
March 20, 2002, duly completed and executed by the controller of the Borrower,
PROVIDED such Person's signature and incumbency shall have been certified to the
Administrative Agent, the Lenders and the Issuer pursuant to SECTION 5.1.1).

     "BORROWING REQUEST" means a Loan request and certificate duly executed by
an Authorized Officer of the Borrower substantially in the form of EXHIBIT B-1
hereto.

     "BUSINESS DAY" means (a) for all purposes other than as covered by CLAUSE
(b) below, any day excluding Saturday, Sunday and any day which is a legal
holiday under the laws of the Commonwealth of Pennsylvania, the State of New
York or the State of Illinois, or is a day on which banking institutions located
in any such states are closed, and (b) with respect to all notices,
determinations, fundings and payments in connection with LIBO Rate Loans, any
day that is a Business Day described in CLAUSE (a) above and that is also a day
for trading by and between banks in Dollar deposits in the applicable interbank
LIBOR market.

     "CAPITAL EXPENDITURES" means, for any period and without duplication, the
aggregate amount of (a) all expenditures of the Borrower and its Subsidiaries
for fixed or capital assets made during such period which, in accordance with
GAAP, would be classified as capital expenditures and (b) Capitalized Lease
Liabilities incurred by the Borrower and its Subsidiaries during such period.

     "CAPITAL SECURITIES" means (a) with respect to any Person that is a
corporation, any and all shares, interests, participations or other equivalents
(however designated and whether or not

                                       -5-
<Page>

voting) of corporate stock, including each class of Common Stock and Preferred
Stock of such Person, and all options, warrants or other rights to purchase or
acquire any of the foregoing; and (b) with respect to any Person that is not a
corporation, any and all partnership, membership or other equity interests of
such Person, and all options, warrants or other rights to purchase or acquire
any of the foregoing.

     "CAPITALIZATION DOCUMENTS" means, collectively: (a) any or all of the
certificates, notes, debentures or other instruments representing securities
bought, sold or issued, or loans made on the Closing Date, including the Senior
Unsecured Notes; (b) the indentures or other documents pursuant to which such
securities bought, sold or issued on the Closing Date, or any such certificates,
notes, debentures or other instruments are issued or to be issued, including the
Senior Unsecured Note Documents; (c) each document governing the issuance of, or
setting forth the terms of, such securities, certificates, notes, debentures or
other instruments; (d) any equityholders, registration or intercreditor
agreement among or between the holders of such equity interests, certificates,
notes, debentures or other instruments; (e) the CBI Senior Subordinated Notes
and the CBI Indenture; and (f) all other instruments, documents and agreements
executed in connection with the foregoing; but in each case excluding all Loan
Documents.

     "CAPITALIZED LEASE LIABILITIES" means, with respect to any Person, all
monetary obligations of such Person and its Subsidiaries under any leasing or
similar arrangement which have been (or, in accordance with GAAP, should be)
classified as capitalized leases, and for purposes of each Loan Document the
amount of such obligations shall be the capitalized amount thereof, determined
in accordance with GAAP, and the stated maturity thereof shall be the date of
the last payment of rent or any other amount due under such lease prior to the
first date upon which such lease may be terminated by the lessee without payment
of a premium or a penalty.

     "CASH COLLATERALIZE" means, with respect to a Letter of Credit, the deposit
of immediately available funds into a cash collateral account maintained with
(or on behalf of) the Administrative Agent on terms satisfactory to the
Administrative Agent in an amount equal to the Stated Amount of such Letter of
Credit.

     "CASH EQUIVALENT INVESTMENTS" means: (i) marketable direct obligations
issued or unconditionally guarantied by the United States Government or issued
by any agency thereof and backed by the full faith and credit of the United
States, in each case maturing within one (1) year from the date of acquisition
thereof; (ii) commercial paper maturing no more than one (1) year from the date
issued and, at the time of acquisition, having a rating of at least A-1 from
Standard & Poor's Ratings Group or at least P-1 from Moody's Investors Service,
Inc.; (iii) certificates of deposit or bankers' acceptances maturing within one
(1) year from the date of issuance thereof issued by, or overnight reverse
repurchase agreements from, any commercial bank organized under the laws of the
United States of America or any state thereof or the District of Columbia having
combined capital and surplus of not less than $500,000,000; (iv) time deposits
maturing no more than thirty (30) days from the date of creation thereof with
commercial banks having membership in the Federal Deposit Insurance Corporation
in amounts not exceeding the lesser of $100,000 or the maximum amount of
insurance applicable to the aggregate amount of a Borrower's deposits at such
institution; and (v) deposits or investments in mutual or similar funds offered
or sponsored by brokerage or other companies having membership in the

                                       -6-
<Page>

Securities Investor Protection Corporation in amounts not exceeding the lesser
of $100,000 or the maximum amount of insurance applicable to the aggregate
amount of a Borrower's deposits at such institution.

     "CBI" is defined in the FIRST RECITAL.

     "CBI AFFILIATED GROUP" is defined in SECTION 8.1.15.

     "CBI INDENTURE" means the indenture dated December 16, 1996, as amended by
the first supplemental indenture thereto, dated as of July 21, 2000, and as
further amended or modified in accordance with SECTION 7.2.12.

     "CBI PREFERRED STOCK" means the Series A Preferred Stock, par value $0.01
per share, of CBI.

     "CBI SENIOR SUBORDINATED NOTES" means the 11% Senior Subordinated Notes Due
2007 of CBI in the original principal amount of $90,000,000, issued pursuant to
the CBI Indenture.

     "CERCLA" means the Comprehensive Environmental Response, Compensation and
Liability Act of 1980, as amended.

     "CERCLIS" means the Comprehensive Environmental Response Compensation
Liability Information System List.

     "CHI" means Castle Harlan, Inc., a Delaware corporation.

     "CHP" means (a) CHP II, CHP III and any Person controlling, controlled by,
or under common control with, and any account controlled or managed by or under
common control or management with, CHP II or CHP III and (b) CHI and employees,
management and directors of, and Persons owning accounts managed by, any of the
foregoing and their respective Affiliates.

     "CHP II" means Castle Harlan Partners II, L.P., a Delaware limited
partnership.

     "CHP III" means Castle Harlan Partners III, L.P., a Delaware limited
partnership.

     "CHANGE IN CONTROL" means

(a) at any time the failure of CHP to beneficially own and control, directly or
       indirectly through voting trusts or otherwise, at least (i) 51% of the
       voting interests of the Voting Securities of the Borrower and (ii) 51% of
       the Capital Securities of the Borrower, such Capital Securities in each
       case to be held free and clear of all Liens; or

(b) during any period of 24 consecutive months, individuals who at the
       beginning of such period constituted the Board of Directors of the
       Borrower (together with any new directors whose election to such Board or
       whose nomination for election by the stockholders of the Borrower was
       approved by a vote of a majority of the directors then still in office
       who were either directors at the beginning of such period or whose
       election or nomination for

                                       -7-
<Page>

       election was previously so approved) cease for any reason to constitute a
       majority of the Board of Directors of the Borrower then in office; or

(c) the occurrence of any "Change of Control" (or similar term) under (and as
       defined in) any Senior Unsecured Note Document or any Sub Debt Document.

     "CLOSING DATE" means the date of the initial Credit Extension hereunder,
but in no event shall such date be later than February 21, 2002.

     "CODE" means the Internal Revenue Code of 1986, and the regulations
thereunder, in each case as amended, reformed or otherwise modified from time to
time.

     "COLLATERAL" means, collectively: (a) all Capital Securities and other
property pledged pursuant to the Security Documents; (b) all "Collateral" as
defined in the Security Documents; (c) all real property mortgaged pursuant to
the Security Documents; and (d) any property or interest provided in addition to
or in substitution for any of the foregoing.

     "COMMON STOCK" of any Person means any and all shares, interests or other
participations in, and other equivalents (however designated and whether voting
or non-voting) of such Person's common stock, whether outstanding on the Closing
Date or issued after the Closing Date, and includes all series and classes of
such common stock.

     "COMMITMENT" means, as the context may require, the Revolving Loan
Commitment, Letter of Credit Commitment or Swing Line Loan Commitment.

     "COMMITMENT AMOUNT" means, as the context may require, the Revolving Loan
Commitment Amount, the Letter of Credit Commitment Amount or the Swing Line Loan
Commitment Amount.

     "COMMITMENT TERMINATION DATE" means the earliest of

          (a) the Stated Maturity Date;

(b) the date on which the Revolving Loan Commitment Amount is terminated in
       full or reduced to zero pursuant to the terms of this Agreement; and

(c) the date on which any Commitment Termination Event occurs.

Upon the occurrence of any event described in the preceding CLAUSES (b) or (c),
the Commitments shall terminate automatically and without any further action.

     "COMMITMENT TERMINATION EVENT" means

          (a) the occurrence of any Event of Default with respect to the
     Borrower described in CLAUSES (a) through (d) of SECTION 8.1.9; or

          (b) the occurrence and continuance of any other Event of Default and
     either

                                       -8-
<Page>

               (i) the declaration of all or any portion of the Loans to be due
          and payable pursuant to SECTION 8.3, or

               (ii) the giving of notice by the Administrative Agent, acting at
          the direction of the Required Lenders, to the Borrower that the
          Commitments have been terminated.

     "COMPLIANCE CERTIFICATE" means a certificate duly completed and executed by
an Authorized Officer of the Borrower, substantially in the form of EXHIBIT E
hereto, together with such changes thereto as the Administrative Agent may from
time to time request for the purpose of monitoring the Borrower's compliance
with the financial covenants contained herein.

     "CONTINGENT LIABILITY", as applied to any Person, means any direct or
indirect liability of that Person: (i) with respect to any indebtedness, lease,
dividend or other obligation of another Person if the purpose or intent of the
Person incurring such liability, or the effect thereof, is to provide assurance
to the obligee of such liability that such liability will be paid or discharged,
or that any agreements relating thereto will be complied with, or that the
holders of such liability will be protected (in whole or in part) against loss
with respect thereto; (ii) with respect to any letter of credit issued for the
account of that Person or as to which that Person is otherwise liable for
reimbursement of drawings; (iii) under any forward contracts, future contracts,
foreign exchange contract, currency swap or option agreement, interest rate swap
or option agreement or other similar agreement or arrangement (x) designed to
alter the risks of that Person arising from fluctuations in currency values,
commodity values or interest rates or (y) the value of which is dependent upon
interest rates, currency exchange rates, commodities or other indices; (iv) to
make take-or-pay or similar payments if required regardless of nonperformance by
any other party or parties to an agreement; or (v) pursuant to any agreement to
purchase, repurchase or otherwise acquire any obligation of another Person or
any property constituting security therefor, to provide funds for the payment or
discharge of such obligation or to maintain the solvency, financial condition or
any balance sheet item or level of income of another. For purposes of this
Agreement, (a) the amount of any obligation described in CLAUSE (i), (ii), (iv)
or (v) shall be equal to the lower of (x) the stated or determinable amount of
the primary obligation in respect of which such contingent obligation is made,
and (y) the maximum amount for which such Person may be liable pursuant to the
terms of the agreement embodying such contingent obligation unless such primary
obligation and the maximum amount for which such Person may be liable are not
stated or determinable, in which case the amount of such contingent obligation
shall be such Person's reasonably anticipated maximum liability in respect
thereof as determined by such Person in good faith, and (b) the amount of any
obligation described in CLAUSE (iii) shall be the amounts, including any
termination payments, that would be required to be paid to a counterparty upon
early termination (in accordance with customary industry standards) rather than
any notional amount with regard to which payments may be calculated.

     "CONTINUATION/CONVERSION NOTICE" means a notice of continuation or
conversion and certificate duly executed by an Authorized Officer of the
Borrower, substantially in the form of EXHIBIT C hereto.

     "CONTRACTUAL OBLIGATIONS" as applied to any Person, means any indenture,
mortgage, deed of trust, contract, undertaking, agreement or other instrument to
which that Person is a party or

                                       -9-
<Page>

by which it or any of its properties is bound or to which it or any of its
properties is subject, including the Related Transactions Documents.

     "CONTROLLED GROUP" means all members of a controlled group of corporations
and all members of a controlled group of trades or businesses (whether or not
incorporated) under common control which, together with the Borrower, are
treated as a single employer under Section 414(b) or 414(c) of the Code or
Section 4001 of ERISA.

     "COPYRIGHT SECURITY AGREEMENT" means any Copyright Security Agreement
executed and delivered by any Obligor in substantially the form of Exhibit C to
any Pledge and Security Agreement, as amended, supplemented, amended and
restated or otherwise modified from time to time.

     "CREDIT EXTENSION" means, as the context may require,

          (a) the making of a Loan by a Lender; or

          (b) the issuance of any Letter of Credit, or the extension of any
     Stated Expiry Date of any existing Letter of Credit, by an Issuer.

     "DEFAULT" means any Event of Default or any condition, occurrence or event
which, after notice or lapse of time or both, would constitute an Event of
Default.

     "DELIVERY DATE" is defined in the definition of "Applicable Margin".

     "DISBURSEMENT" is defined in SECTION 2.6.2.

     "DISBURSEMENT DATE" is defined in SECTION 2.6.2.

     "DISCLOSURE SCHEDULE" means the Disclosure Schedule attached hereto as
SCHEDULE I, as it may be amended, supplemented, amended and restated or
otherwise modified from time to time by the Borrower with the written consent of
the Required Lenders.

     "DISPOSITION" (or similar words such as "DISPOSE") means any sale,
transfer, lease, contribution or other conveyance (including by way of merger)
of, or the granting of options, warrants or other rights to, any of the
Borrower's or its Subsidiaries' assets (including accounts receivable and
Capital Securities of Subsidiaries) to any other Person in a single transaction
or series of transactions.

     "DISQUALIFIED CAPITAL SECURITIES" means that portion of any Capital
Securities which, by its terms (or by the terms of any security into which it is
convertible or for which it is exchangeable), or upon the happening of any
event, matures or is mandatorily redeemable, pursuant to a sinking fund
obligation or otherwise, or is redeemable, in each case for cash or property
(other than Capital Securities) at the sole option of the holder thereof on or
prior to the Stated Maturity Date.

     "DOCUMENTATION AGENT" is defined in the PREAMBLE.

                                      -10-
<Page>

     "DOLLAR" and the sign "$" mean lawful money of the United States.

     "DOMESTIC OFFICE" means the office of a Lender designated as its "Domestic
Office" on SCHEDULE II hereto or in a Lender Assignment Agreement, or such other
office within the United States as may be designated from time to time by notice
from such Lender to the Administrative Agent and the Borrower.

     "EBITDA" means:

          (d) net income (or loss) for the period of the Borrower and its
     Subsidiaries, but excluding: (i) the income (or loss) of any Person (other
     than Subsidiaries of the Borrower) in which the Borrower or any of its
     Subsidiaries has an ownership interest unless received by the Borrower or
     its Subsidiaries in a cash distribution; (ii) the income (or loss) of any
     Person accrued prior to the date it becomes a Subsidiary of the Borrower or
     is merged into or consolidated with the Borrower; and (iii) the aggregate
     amount of interest income earned by the Borrower and its Subsidiaries;

PLUS

(e)  any provision for (or less any benefit from) income and franchise
          taxes included in the determination of net income;

(f)  interest expense (including that attributable to capital leases and all
          commissions, discounts and others fees and charges with respect to
          letters of credit) deducted in the determination of net income;

(g)  amortization and depreciation deducted in the determination of net income;

(h)  losses (or MINUS gains) from Asset Dispositions or other non-cash items
          included in the determination of net income (excluding sales, expenses
          or losses related to current assets);

(i)  transaction expenses included in the determination (for the relevant
          period) of net income of (A) the Related Transactions consummated on
          or around the Closing Date in an amount not to exceed $10,000,000 and
          (B) the Existing Credit Agreement (including the transactions, such as
          the acquisition of ECI, contemplated therein), in an amount not to
          exceed $7,000,000;

(j)  any management fee (contemplated by CLAUSE (a) of SECTION 7.2.13 of the
          Credit Agreement) actually paid in cash to the extent deducted in the
          determination of net income;

(k)  to the extent deducted in determining net income, an amount not to exceed
          $3,000,000 reflecting the cost of unwinding a portion of the interest
          rate swaps existing as of the Closing Date; and

(l)  other non-cash items deducted (or less other non-cash items added) in the
          determination of net income;

                                      -11-
<Page>

LESS

(m) extraordinary gains net of related tax effects included in the
     determination of net income.

     "ECI" is defined in the FIRST RECITAL.

     "EFFECTIVE DATE" means the date this Agreement becomes effective pursuant
to SECTION 10.8.

     "ELIGIBLE ACCOUNT" means, with respect to the Borrower and any of its U.S.
wholly-owned Subsidiaries, at the time of any determination thereof, any Account
for which none of the following criteria apply in the reasonable determination
of the Administrative Agent:

          (n) "Balfour Representative" Accounts which remain unpaid for more
     than 180 days after the due date specified in the original invoice therefor
     (or for more than 90 days after the invoice date thereof, if no due date is
     specified);

          (o) Accounts (other than "Balfour Representative" Accounts) which
     remain unpaid for more than 120 days after the due date specified in the
     original invoice therefor (or for more than 90 days after the invoice date
     if no due date is specified);

          (p) Accounts in excess of $100,000 due from a customer whose principal
     place of business is located outside of the United States, or such Accounts
     in excess of an aggregate of $500,000, except for such Accounts that are
     backed by a letter of credit (provided that such letter of credit was
     issued or confirmed by a bank that is organized under the laws of the
     United States of America or a State thereof and has capital and surplus in
     excess of $500,000,000);

          (q) Accounts with respect to which the customer is the United States
     of America or any department, agency, or instrumentality thereof, except
     for those Accounts for which the applicable Obligor has complied with the
     Federal Assignment of Claims Act (Ref. 31 U.S.C. Section 3727) and other
     Accounts that do not in the aggregate exceed $1,500,000 at any time
     outstanding;

          (r) Accounts with respect to which the customer is an Affiliate of the
     Borrower or a director, officer, agent, stockholder, or employee of the
     Borrower or any of its Affiliates (this exclusion shall not include (x)
     Accounts with respect to which the customer is a commissioned sales
     representative of CBI, Taylor General Partner, Taylor or any Subsidiary of
     Taylor or CBI, and (y) Accounts of less than $250,000 in the aggregate with
     respect to which the customer is a portfolio company of CHP);

          (s) Accounts with respect to which there is any unresolved dispute
     with the respective customer but only to the extent of such dispute;

          (t) Accounts with respect to which the Administrative Agent does not
     have a valid, first priority and fully perfected security interest and
     Accounts subject to any Lien except those in favor of the Administrative
     Agent; including Accounts evidenced by an

                                      -12-
<Page>

     instrument (as defined in Article 9 of the UCC) not in the possession of
     the Administrative Agent;

          (u) Accounts with respect to which the customer is the subject of any
     bankruptcy or other insolvency proceedings;

          (v) Accounts due from a customer to the extent that such Accounts
     exceed in the aggregate an amount equal to 10% (or 20% with respect to
     Accounts due from Wal-Mart Stores, Inc.) of the aggregate of all Accounts
     at such date;

          (w) Accounts with respect to which the customer's obligation to pay is
     conditional or subject to a repurchase obligation or right to return,
     including bill and hold sales, guarantied sales, sale or return
     transactions, sales on approval or consignment sales (other than Accounts
     of Taylor and CBI to the extent such Accounts are on terms consistent with
     past practices of Taylor and CBI, respectively); or

          (x) Accounts which do not constitute the legally valid and binding
     obligation of the customer to pay the same.

     "ELIGIBLE INVENTORY" means, with respect to the Borrower and any of its
U.S. wholly-owned Subsidiaries, at the time of any determination thereof, any
Inventory located in the United States arising in the ordinary course of
business and for which none of the following criteria apply in the reasonable
determination of the Administrative Agent, and valued at the lower of cost or
market (including adequate reserves for obsolete, slow moving or excess
quantities), on a first-in, first-out basis:

          (y) Inventory with respect to which the Administrative Agent does not
     have a valid, first priority and fully perfected security interest;

          (z) raw material Inventory of Gold content;

          (aa) Gold content included in finished goods Inventory and work in
     process Inventory;

          (bb) Inventory with respect to which there exists any Lien in favor of
     any Person other than the Administrative Agent under a Loan Document;

          (cc) Inventory located at a consignee, bailee, warehouseman, refiner,
     agent, processor or other third party location for which the Administrative
     Agent has not received an access agreement in form and substance
     satisfactory to the Administrative Agent; or

          (dd) Inventory produced in violation the Fair Labor Standards Act and
     subject to the so-called "hot goods" provisions contained in Title 25
     U.S.C. 215(a)(i).

     "ENVIRONMENTAL LAWS" means all applicable federal, state or local statutes,
laws, ordinances, codes, rules, regulations and published guidelines (including
consent decrees and administrative orders) relating to public health and safety
and protection of the environment.

                                      -13-
<Page>

     "ERISA" means the Employee Retirement Income Security Act of 1974, as
amended from time to time, and all rules and regulations promulgated thereunder.

     "EVENT OF DEFAULT" is defined in SECTION 8.1.

     "EXEMPTION CERTIFICATE" is defined in CLAUSE (e) of SECTION 4.6.

     "EXCHANGE ACT" means the Securities Exchange Act of 1934, as amended.

     "EXISTING BORROWERS" is defined in the FIRST RECITAL.

     "EXISTING CREDIT AGREEMENT" is defined in the FIRST RECITAL.

     "EXISTING PROMISSORY NOTES" is defined in the FIRST RECITAL.

     "FEDERAL FUNDS RATE" means, for any period, a fluctuating interest rate per
annum equal for each day during such period to

          (a) the weighted average of the rates on overnight federal funds
     transactions with members of the Federal Reserve System arranged by federal
     funds brokers, as published for such day (or, if such day is not a Business
     Day, for the next preceding Business Day) by the Federal Reserve Bank of
     New York; or

          (b) if such rate is not so published for any day which is a Business
     Day, the average of the quotations for such day on such transactions
     received by the Administrative Agent from three federal funds brokers of
     recognized standing selected by it.

     "FEE LETTER" means the confidential letter, dated December 17, 2001,
between Scotia Capital and the Borrower.

     "FILING AGENT" is defined in SECTION 5.1.9.

     "FILING STATEMENTS" is defined in SECTION 5.1.9.

     "FISCAL QUARTER" means a quarter ending on the Saturday closest to the last
day of November, February, May or August.

     "FISCAL YEAR" means any period of twelve consecutive calendar months ending
on the final Saturday of August in each calendar year; references to a Fiscal
Year with a number corresponding to any calendar year (E.G., the "2002 Fiscal
Year") refer to the Fiscal Year ending on the Saturday closest to August 31 of
such calendar year.

     "FIXED CHARGE COVERAGE RATIO" means, as of the close of any Fiscal Quarter,
the ratio computed for the period consisting of such Fiscal Quarter and the
three immediately preceding Fiscal Quarters of the following amounts with
respect to all such Fiscal Quarters:

          (ee) EBITDA MINUS the sum of (i) Unfinanced Capital Expenditures, (ii)
     any management fee (contemplated by CLAUSE (a) of SECTION 7.2.13) actually
     paid in cash to

                                      -14-
<Page>

     the extent deducted in the determination of net income, and (iii) other
     capitalized costs (defined as the gross amount capitalized, for any period,
     as long term assets (net of cash received in respect of long term assets),
     including the purchase price of Permitted Acquisitions to the extent paid
     in cash from sources other than a Borrowing, other than (x) Capital
     Expenditures and (y) fees and expenses capitalized with respect to the
     Refinancing;

     TO

(ff) Fixed Charges.

        "FIXED CHARGES" means (a) Interest Expense PLUS (b)(i) any provision
for (or benefit from) income or franchise taxes included in the determination of
net income; (ii) increases (or PLUS decreases) in short-term and long-term
deferred tax assets; (iii) decreases (or MINUS increases) in short-term and
long-term deferred tax liabilities; (iv) scheduled payments of principal with
respect to all Indebtedness (including the principal portion of scheduled
payments of Capitalized Lease Liabilities); and (v) Restricted Junior Payments
made in cash (other than (i) Restricted Junior Payments which are made solely
with the proceeds of a Qualified SLB or (ii) with the proceeds of Additional
Equity).

     "FOREIGN SUBSIDIARY" means any Subsidiary that is not a U.S. Subsidiary.

     "F.R.S. BOARD" means the Board of Governors of the Federal Reserve System
or any successor thereto.

     "GAAP" means generally accepted accounting principles set forth in the
opinions and pronouncements of the Accounting Principles Board of the American
Institute of Certified Public Accountants and statements and pronouncements of
the Financial Accounting Standards Board or in such other statements by such
other entity as may be approved by a significant segment of the accounting
profession of the United States, which are in effect from time to time.

     "GOLD" means gold in whatever form (whether bullion, granule, alloys or
otherwise).

     "GOLD CONSIGNMENT AGREEMENT" means that certain Letter Agreement and Fee
Consignment for Purchase of Gold, dated as of July 27, 2000, by and between CBI
and The Bank of Nova Scotia, as amended or otherwise modified from time to time
prior to the Effective Date.

     "GOVERNMENTAL AUTHORITY" means the government of the United States, any
other nation or any political subdivision thereof, whether state or local, and
any agency, authority, instrumentality, regulatory body, court, central bank or
other Person exercising executive, legislative, judicial, taxing, regulatory or
administrative powers or functions of or pertaining to government.

     "HAZARDOUS MATERIAL" means

          (a) any "hazardous substance", as defined by CERCLA;

                                      -15-
<Page>

          (b) any "hazardous waste", as defined by the Resource Conservation and
     Recovery Act, as amended; or

          (c) any pollutant or contaminant or hazardous, radioactive, toxic or
     otherwise regulated chemical, material or substance (including any
     petroleum product) within the meaning of any Environmental Law, as amended.

     "HEDGING OBLIGATIONS" means, with respect to any Person, all liabilities of
such Person under currency or commodity exchange agreements, interest rate swap
agreements, interest rate cap agreements and interest rate collar agreements,
and all other agreements or arrangements designed to protect such Person against
fluctuations in interest rates, currency exchange rates or commodity values.

     "HEREIN", "HEREOF", "HERETO", "HEREUNDER" and similar terms contained in
any Loan Document refer to such Loan Document as a whole and not to any
particular Section, paragraph or provision of such Loan Document.

     "IMPERMISSIBLE QUALIFICATION" means any qualification or exception to the
opinion or certification of any independent public accountant as to any
financial statement of the Borrower

          (a) which is of a "going concern" or similar nature;

          (b) which relates to the limited scope of examination of matters
     relevant to such financial statement; or

          (c) which relates to the treatment or classification of any item in
     such financial statement and which, as a condition to its removal, would
     require an adjustment to such item the effect of which would be to cause
     the Borrower to be in Default.

     "INCLUDING" and "INCLUDE" means including without limiting the generality
of any description preceding such term, and, for purposes of each Loan Document,
the parties hereto agree that the rule of ejusdem generis shall not be
applicable to limit a general statement, which is followed by or referable to an
enumeration of specific matters, to matters similar to the matters specifically
mentioned.

     "INDEBTEDNESS" of any Person means:

          (gg) all obligations of such Person for borrowed money or advances and
     all obligations of such Person evidenced by bonds, debentures, notes or
     similar instruments;

(hh) all obligations, contingent or otherwise, relative to the face amount of
       all letters of credit, whether or not drawn, and banker's acceptances
       issued for the account of such Person;

(ii) all Capitalized Lease Liabilities of such Person;

(jj) for purposes of SECTION 8.1.5 only, all other items which, in accordance
       with GAAP, would be included as liabilities on the balance sheet of such
       Person as of the date at which Indebtedness is to be determined;

                                      -16-
<Page>

(kk) net Hedging Obligations of such Person;

(ll) whether or not so included as liabilities in accordance with GAAP, all
       obligations of such Person to pay the deferred purchase price of property
       or services (excluding trade accounts payable in the ordinary course of
       business which are not overdue for a period of more than 90 days or, if
       overdue for more than 90 days, as to which a dispute exists and adequate
       reserves in conformity with GAAP have been established on the books of
       such Person), and indebtedness secured by (or for which the holder of
       such indebtedness has an existing right, contingent or otherwise, to be
       secured by) a Lien on property owned or being acquired by such Person
       (including indebtedness arising under conditional sales or other title
       retention agreements), whether or not such indebtedness shall have been
       assumed by such Person or is limited in recourse;

(mm) obligations arising under Synthetic Leases; and

(nn) all Contingent Liabilities of such Person in respect of any of the
       foregoing.

The Indebtedness of any Person shall include the Indebtedness of any other
Person (including any partnership in which such Person is a general partner) to
the extent such Person is liable therefor as a result of such Person's ownership
interest in or other relationship with such Person, except to the extent the
terms of such Indebtedness provide that such Person is not liable therefor.

     "INDEMNIFIED LIABILITIES" is defined in SECTION 10.4.

     "INDEMNIFIED PARTIES" is defined in SECTION 10.4.

     "INDENTURE" means the Indenture, dated as of February 20, 2002, to the
Senior Unsecured Notes, as amended, supplemented, amended and restated or
otherwise modified in accordance with SECTION 7.2.12.

     "INTERCO SUBORDINATION AGREEMENT" means the Subordination Agreement,
substantially in the form of EXHIBIT I hereto, executed and delivered by two or
more Obligors pursuant to the terms of this Agreement, as amended, supplemented,
amended and restated or otherwise modified from time to time.

     "INTERCREDITOR AGREEMENT" means the Intercreditor Agreement, substantially
in the form of EXHIBIT K hereto, by and among the Administrative Agent and
Scotia Capital and acknowledged by the Borrower, dated as of February 20, 2002
(as amended, supplemented, amended and restated or otherwise modified from time
to time).

     "INTEREST COVERAGE RATIO" means as of the close of any Fiscal Quarter, the
ratio computed for the period consisting of such Fiscal Quarter and the three
immediately preceding Fiscal Quarters of (a) EBITDA for all such Fiscal Quarters
to (b) Interest Expense for all such Fiscal Quarters.

     "INTEREST EXPENSE" means:

                                      -17-
<Page>

          (oo) interest expense, net of interest income, included in the
     determination of net income (but including that attributable to capital
     leases, all commissions, discounts and other fees and charges with respect
     to letters of credit);

MINUS

(pp) amortization of capitalized fees and expenses incurred with respect to the
       Refinancing included in interest expense;

MINUS

(qq) interest paid in kind and included in interest expense.

     "INTEREST PERIOD" means, relative to any LIBO Rate Loan, the period
beginning on (and including) the date on which such LIBO Rate Loan is made or
continued as, or converted into, a LIBO Rate Loan pursuant to SECTIONS 2.3 or
2.4 and shall end on (but exclude) the day which numerically corresponds to such
date one, two, three or six months thereafter (or, if such month has no
numerically corresponding day, on the last Business Day of such month), as the
Borrower may select in its relevant notice pursuant to SECTIONS 2.3 or 2.4;
PROVIDED, HOWEVER, that

          (a) the Borrower shall not be permitted to select Interest Periods to
     be in effect at any one time which have expiration dates occurring on more
     than five different dates;

          (b) if such Interest Period would otherwise end on a day which is not
     a Business Day, such Interest Period shall end on the next following
     Business Day (unless such next following Business Day is the first Business
     Day of a calendar month, in which case such Interest Period shall end on
     the Business Day next preceding such numerically corresponding day); and

          (c) no Interest Period for any Loan may end later than the Stated
     Maturity Date for such Loan.

     "INVENTORY" means any "inventory" (as that term is defined in Section
9-102(a)(48)(B) and (a)(48)(D) of the UCC) of the Borrower or any of its wholly
owned U.S. Subsidiaries.

     "INVESTMENT" means (i) any direct or indirect purchase or other acquisition
by the Borrower or any of its Subsidiaries of any beneficial interest in,
including Capital Securities of, or ownership interest in, any other Person; and
(ii) any direct or indirect loan, advance or capital contribution by the
Borrower or any of its Subsidiaries to any other Person, including all
indebtedness and accounts receivable from that other Person that are not current
assets or did not arise from sales or provision of services to that other Person
in the ordinary course of business. The amount of any Investment shall be the
original principal or capital amount thereof less all returns of principal or
equity thereon and shall, if made by the transfer or exchange of property other
than cash, be deemed to have been made in an original principal or capital
amount equal to the fair market value of such property at the time of such
Investment.

     "ISP RULES" is defined in SECTION 10.9.

                                      -18-
<Page>

     "ISSUANCE REQUEST" means a Letter of Credit request and certificate duly
executed by an Authorized Officer of the Borrower, substantially in the form of
EXHIBIT B-2 hereto.

     "ISSUER" means Scotia Capital in its capacity as Issuer of the Letters of
Credit. At the request of Scotia Capital and with the Borrower's consent (not to
be unreasonably withheld), another Lender or an Affiliate of Scotia Capital may
issue one or more Letters of Credit hereunder.

     "LENDER ASSIGNMENT AGREEMENT" means an assignment agreement substantially
in the form of EXHIBIT J hereto.

     "LENDERS" is defined in the PREAMBLE.

     "LENDER'S ENVIRONMENTAL LIABILITY" means any and all losses, liabilities,
obligations, penalties, claims, litigation, demands, defenses, costs, judgments,
suits, proceedings, damages (including consequential damages), disbursements or
expenses of any kind or nature whatsoever (including reasonable attorneys' fees
at trial and appellate levels and experts' fees and disbursements and expenses
incurred in investigating, defending against or prosecuting any litigation,
claim or proceeding) which may at any time be imposed upon, incurred by or
asserted or awarded against the Administrative Agent, any Lender or any Issuer
or any of such Person's Affiliates, shareholders, directors, officers,
employees, and agents in connection with or arising from:

          (a) any Hazardous Material on, in, under or affecting all or any
     portion of any property of the Borrower or any of its Subsidiaries, the
     groundwater thereunder, or any surrounding areas thereof to the extent
     caused by Releases from the Borrower's or any of its Subsidiaries' or any
     of their respective predecessors' properties;

          (b) any misrepresentation, inaccuracy or breach of any warranty,
     contained or referred to in SECTION 6.10;

          (c) any violation or claim of violation by the Borrower or any of its
     Subsidiaries of any Environmental Laws; or

          (d) the imposition of any lien for damages caused by or the recovery
     of any costs for the cleanup, release or threatened release of Hazardous
     Material by the Borrower or any of its Subsidiaries, or in connection with
     any property owned or formerly owned by the Borrower or any of its
     Subsidiaries.

     "LETTER OF CREDIT" is defined in SECTION 2.1.2.

     "LETTER OF CREDIT COMMITMENT" means each Issuer's obligation to issue
Letters of Credit pursuant to SECTION 2.1.2.

     "LETTER OF CREDIT COMMITMENT AMOUNT" means, on any date, a maximum amount
of $10,000,000, as such amount may be permanently reduced from time to time
pursuant to SECTION 2.2.

                                      -19-
<Page>

     "LETTER OF CREDIT OUTSTANDINGS" means, on any date, an amount equal to the
sum of (i) the then aggregate amount which is undrawn and available under all
issued and outstanding Letters of Credit, and (ii) the then aggregate amount of
all unpaid and outstanding Reimbursement Obligations.

     "LEVERAGE RATIO" means, as of the last day of any Fiscal Quarter, the ratio
of

          (a) Total Debt outstanding on the last day of such Fiscal Quarter

     TO

          (b) EBITDA computed for the period consisting of such Fiscal Quarter
     and each of the three immediately preceding Fiscal Quarters.

     "LIBO RATE" means, relative to any Interest Period for LIBO Rate Loans, the
rate of interest equal to the average (rounded upwards, if necessary, to the
nearest 1/16 of 1%) of the rates per annum at which Dollar deposits in
immediately available funds are offered to the Administrative Agent's LIBOR
Office in the London interbank market at or about 11:00 a.m. London, England
time two Business Days prior to the beginning of such Interest Period for
delivery on the first day of such Interest Period, and in an amount
approximately equal to the amount of the Administrative Agent's LIBO Rate Loan
and for a period approximately equal to such Interest Period.

     "LIBO RATE LOAN" means a Loan bearing interest, at all times during an
Interest Period applicable to such Loan, at a rate of interest determined by
reference to the LIBO Rate (Reserve Adjusted).

     "LIBO RATE (RESERVE ADJUSTED)" means, relative to any Loan to be made,
continued or maintained as, or converted into, a LIBO Rate Loan for any Interest
Period, a rate per annum (rounded upwards, if necessary, to the nearest 1/16 of
1%) determined pursuant to the following formula:

                                             LIBO RATE
           LIBO Rate           =   ----------------------------
       (Reserve Adjusted)          1.00 - LIBOR Reserve Percentage

The LIBO Rate (Reserve Adjusted) for any Interest Period for LIBO Rate Loans
will be determined by the Administrative Agent on the basis of the LIBOR Reserve
Percentage in effect two Business Days before the first day of such Interest
Period.

     "LIBOR OFFICE" means the office of a Lender designated as its "LIBOR
Office" on SCHEDULE II hereto or in a Lender Assignment Agreement, or such other
office designated from time to time by notice from such Lender to the Borrower
and the Administrative Agent, whether or not outside the United States, which
shall be making or maintaining the LIBO Rate Loans of such Lender.

     "LIBOR RESERVE PERCENTAGE" means, relative to any Interest Period for LIBO
Rate Loans, the reserve percentage (expressed as a decimal) equal to the maximum
aggregate reserve requirements (including all basic, emergency, supplemental,
marginal and other reserves and

                                      -20-
<Page>

taking into account any transitional adjustments or other scheduled changes in
reserve requirements) specified under regulations issued from time to time by
the F.R.S. Board and then applicable to assets or liabilities consisting of or
including "Eurocurrency Liabilities", as currently defined in Regulation D of
the F.R.S. Board, having a term approximately equal or comparable to such
Interest Period.

     "LIEN" means any security interest, mortgage, pledge, hypothecation,
assignment, deposit arrangement, encumbrance, lien (statutory or otherwise),
charge against or interest in property, or other priority or preferential
arrangement of any kind or nature whatsoever, to secure payment of a debt or
performance of an obligation.

     "LOAN DOCUMENTS" means, collectively, (i) this Agreement, the Notes, the
Letters of Credit, each Rate Protection Agreement, the Fee Letter, each
agreement pursuant to which the Administrative Agent is granted a Lien to secure
the Obligations and each other agreement, certificate, document or instrument
delivered in connection with any Loan Document, whether or not specifically
mentioned herein or therein and (ii) for purposes of any agreement which
provides a Lien in favor of the Secured Parties, the Gold Consignment Agreement.

     "LOANS" means, as the context may require, a Revolving Loan or a Swing Line
Loan of any type.

     "MATERIAL ADVERSE EFFECT" means (a) a material adverse effect upon the
business, operations, properties, assets or financial condition of the Borrower
and its Subsidiaries taken as a whole, or (b) the impairment of the ability of
the Borrower and its Subsidiaries taken as a whole to perform their material
obligations under the Loan Documents or of the Administrative Agent or any
Lender to enforce any Loan Document or collect the Obligations. In determining
whether any individual event would result in a Material Adverse Effect,
notwithstanding that such event does not of itself have such effect, a Material
Adverse Effect shall be deemed to have occurred if the cumulative effect of such
event and all other then existing events would result in a Material Adverse
Effect.

     "MEXICAN SUBSIDIARY" means Pulidos de Juarez, S.A. de C.V., a corporation
organized under the laws of Mexico.

     "MONTHLY PAYMENT DATE" means the first day of each calendar month or, if
such day is not a Business Day, the next succeeding Business Day.

     "MOODY'S" means Moody's Investors Service, Inc.

     "MORTGAGE" means each deed of trust executed and delivered by each of CBI,
with respect to its real property located in Travis County, Texas as of the
Closing Date, and Taylor General Partner, with respect to its real property
located in Dallas County, Texas as of the Closing Date, in each case in favor of
the Administrative Agent for the benefit of the Secured Parties pursuant to the
requirements of this Agreement, in substantially the form of EXHIBIT H hereto,
under which a Lien is granted on the real property and fixtures described
therein, as amended, supplemented, amended and restated or otherwise modified
from time to time.

                                      -21-
<Page>

     "NET ASSET VALUE" means, at any time of any determination, (i) with respect
to Eligible Accounts, 85% of an amount equal to (x) the book value of all
Eligible Accounts as reflected on the books of the Borrower and its Subsidiaries
in accordance with GAAP, net of (y) all credits, discounts and allowances (and
net of all unissued credits in the form of competitive allowances or otherwise)
in respect of such Eligible Accounts and (ii) with respect to Eligible
Inventory, an amount equal to the sum of (x) 50%, with respect to Nonprecious
Inventory and (y) 70%, with respect to Precious Metals/Stones Inventory, in each
case of the net book value (determined on a standard cost basis) of all such
Eligible Inventory as reflected on the books of the Borrower and the
Subsidiaries as at such time, valued in accordance with GAAP.

     "NONPRECIOUS INVENTORY" means Eligible Inventory LESS Precious
Metals/Stones Inventory.

     "NON-EXCLUDED TAXES" means any Taxes other than net income, branch, doing
business or franchise taxes imposed with respect to any Secured Party by any
Governmental Authority as a result of a present or former connection between
such Secured Party and the relevant taxing jurisdiction, other than a connection
arising solely from such Secured Party having executed, delivered, or performed
its obligations under, or received a payment under, or enforced this Agreement
or any other Loan Document.

     "NON-U.S. LENDER" or "NON-U.S. SECURED PARTY" means any Lender or Secured
Party, as the case may be, that is not a "United States person", as defined
under Section 7701(a)(30) of the Code.

     "NOTE" means, as the context may require, a Revolving Note or a Swing Line
Note.

     "OBLIGATIONS" means, collectively, (i) all obligations (monetary or
otherwise, whether absolute or contingent, matured or unmatured) of the Borrower
and each other Obligor arising under or in connection with a Loan Document,
including Reimbursement Obligations and the principal of and premium, if any,
and interest (including interest accruing during the pendency of any proceeding
of the type described in SECTION 8.1.9, whether or not allowed in such
proceeding) on the Loans, and (ii) for purposes of any Security Document which
provides a Lien in favor of the Secured Parties, all amounts owing to Scotia
Capital pursuant to the Gold Consignment Agreement.

     "OBLIGOR" means, as the context may require, the Borrower and each of its
Subsidiaries.

     "ORGANIC DOCUMENT" means, relative to any Obligor, as applicable, its
certificate of incorporation, by-laws, certificate of partnership, partnership
agreement, certificate of formation, limited liability agreement, operating
agreement and all shareholder agreements, voting trusts and similar arrangements
applicable to any of such Obligor's partnership interests, limited liability
company interests or authorized shares of Capital Securities.

     "OTHER TAXES" means any and all stamp, documentary or similar Taxes, or any
other excise or property Taxes or similar levies that arise on account of any
payment made or required to be made under any Loan Document or from the
execution, delivery, registration, recording or enforcement of any Loan
Document.

                                      -22-
<Page>

     "PARTICIPANT" is defined in SECTION 10.11.2.

     "PATENT SECURITY AGREEMENT" means any Patent Security Agreement executed
and delivered by any Obligor in substantially the form of Exhibit A to any
Pledge and Security Agreement, as amended, supplemented, amended and restated or
otherwise modified from time to time.

     "PBGC" means the Pension Benefit Guaranty Corporation and any Person
succeeding to any or all of its functions under ERISA.

     "PENSION PLAN" means a "pension plan", as such term is defined in Section
3(2) of ERISA, which is subject to Title IV of ERISA (other than a multiemployer
plan as defined in Section 4001(a)(3) of ERISA), and to which the Borrower or
any corporation, trade or business that is, along with the Borrower, a member of
a Controlled Group, may have liability, including any liability by reason of
having been a substantial employer within the meaning of Section 4063 of ERISA
at any time during the preceding five years, or by reason of being deemed to be
a contributing sponsor under Section 4069 of ERISA.

     "PERCENTAGE" means, relative to any Lender, the applicable percentage
relating to Revolving Loans set forth opposite its name on SCHEDULE II hereto
under the Revolving Loan Commitment column or set forth in a Lender Assignment
Agreement under the Revolving Loan Commitment column, as such percentage may be
adjusted from time to time pursuant to Lender Assignment Agreements executed by
such Lender and its Assignee Lender and delivered pursuant to SECTION 10.11.1. A
Lender shall not have any Revolving Loan Commitment if its percentage under the
Revolving Loan Commitment column is zero.

     "PERMITTED ACQUISITION" means an acquisition (whether pursuant to an
acquisition of Capital Securities, assets or otherwise) by the Borrower or any
Subsidiary from any Person of a business in which the following conditions are
satisfied or otherwise consented to by the Required Lenders:

          (rr) the Borrower has demonstrated in writing to the reasonable
     satisfaction of the Administrative Agent that the business to be acquired
     has had positive EBITDA, after giving effect to Pro Forma Cost Reductions,
     for the preceding 12 months for which a calculation of EBITDA is then
     available;

(ss) the Borrower has demonstrated in writing to the reasonable satisfaction of
       the Administrative Agent that on a PRO FORMA basis, after giving effect
       to such acquisition, the sum of (x) the unused portion of the Revolving
       Loan Commitment Amount (net of Letter of Credit Outstandings) available
       as of the date of such acquisition (including immediately following such
       acquisition) and (y) the amount of Cash Equivalent Investments then owned
       by the Borrower, shall at all times during the 12 months following such
       acquisition equal or exceed $5,000,000;

(tt) substantially all of the assets so acquired are located in the United
       States or, if such acquisition is structured as a purchase of Capital
       Securities, the Person so acquired is organized under the laws of a state
       in the United States or under the laws of the District

                                      -23-
<Page>

     of Columbia, and substantially all of the assets owned by such Person are
     located in the United States;

(uu) the Borrower has delivered to the Administrative Agent not less than ten
       (10) Business Days prior to the consummation of the acquisition an
       acquisition summary providing a reasonably detailed description of the
       Person whose Capital Securities or assets are proposed to be acquired and
       the terms and conditions of the proposed purchase, along with such due
       diligence information (including, without limitation, due diligence
       information regarding any environmental matters) reasonably requested by,
       and in form and content reasonably acceptable to, the Administrative
       Agent;

(vv) the Borrower has delivered to the Administrative Agent all legal
       documentation pertaining to such acquisition, which documentation shall
       be in form and substance reasonably acceptable to the Administrative
       Agent;

(ww) immediately before and after giving effect to such acquisition no Default
       shall have occurred and be continuing or would result therefrom
       (including under SECTION 7.2.1);

          (g) the Borrower shall have delivered to the Administrative Agent a
     Compliance Certificate for the period of four full Fiscal Quarters
     immediately preceding such acquisition (prepared in good faith and in a
     manner and using such methodology which is consistent with the most recent
     financial statements delivered pursuant to SECTION 7.1.1) giving PRO FORMA
     effect to the consummation of such acquisition and evidencing compliance
     with the covenants set forth in SECTION 7.2.4; and

          (h) the Total Consideration to be paid for such acquisition does not
     exceed $10,000,000, and together with the Total Consideration paid with
     respect to all other Permitted Acquisitions does not exceed $25,000,000
     over the term of this Agreement.

     "PERMITTED ENCUMBRANCES" is defined in SECTION 7.2.3.

     "PERSON" means any natural person, corporation, limited liability company,
partnership, joint venture, association, trust or unincorporated organization,
Governmental Authority or any other legal entity, whether acting in an
individual, fiduciary or other capacity.

     "PLEDGE AND SECURITY AGREEMENT" means, as the context may require, the
Borrower Pledge and Security Agreement or the Subsidiary Pledge and Security
Agreement.

     "PLEDGED SUBSIDIARY" means each Subsidiary in respect of which the
Administrative Agent has been granted a security interest in or a pledge of (i)
any of the Capital Securities of such Subsidiary or (ii) any intercompany notes
of such Subsidiary owing to the Borrower or another Subsidiary.

     "PRECIOUS METALS/STONES INVENTORY" means Eligible Inventory consisting of
precious stones and precious metals.

                                      -24-
<Page>

     "PREFERRED STOCK" of any Person means any Capital Securities of such Person
that has preferential rights to any other Capital Securities of such Person with
respect to dividends or redemptions or upon liquidation.

     "PRO FORMA COST REDUCTION" means, with respect to any Permitted
Acquisition, the estimated amount of cost savings attributable to operational
efficiencies expected to be created by the Borrower with respect to the business
to be acquired and the business of the Borrower and its Subsidiaries, as
calculated by the Borrower and acceptable to the Administrative Agent in its
discretion.

     "PROJECTIONS" means forecasted (a) consolidated balance sheets, cash flow
statements, and capitalization statements; and (b) consolidated and
consolidating profit and loss statements, all prepared with the Borrower's and
its Subsidiaries' respective historical financial statements and with the
financial statements required to be delivered pursuant to CLAUSE (a) and CLAUSE
(b) of SECTION 7.1.1, together with appropriate supporting details and a
statement of underlying assumptions.

     "QUALIFIED SLB" means the Sale and Leaseback Transaction by the Borrower or
its Subsidiaries involving either their facilities located in Travis County,
Texas as of the Closing Date or their facilities located in Dallas County, Texas
as of the Closing Date.

     "QUARTERLY PAYMENT DATE" means the last day of March, June, September and
December, or, if any such day is not a Business Day, the next succeeding
Business Day.

     "RATE PROTECTION AGREEMENT" means, collectively, any precious metal hedge
agreement, foreign exchange agreement, commodity exchange agreement, interest
rate swap, cap, collar or (in each case) similar agreement entered into by the
Borrower or any of its Subsidiaries under which the counterparty of such
agreement is (or at the time such agreement was entered into, was) a Lender or
an Affiliate of a Lender.

     "REFINANCING" is defined in the FIRST RECITAL.

     "REFUNDED SWING LINE LOANS" is defined in CLAUSE (b) of SECTION 2.3.2.

     "REGISTER" is defined in CLAUSE (b) of SECTION 2.7.

     "REIMBURSEMENT OBLIGATION" is defined in SECTION 2.6.3.

     "RELATED TRANSACTIONS" means the execution and delivery of the Related
Transactions Documents on the Closing Date, the funding of all Credit Extensions
(if any) on the Closing Date, the issuance of the Senior Unsecured Notes, and
the payment of all fees, costs and expenses associated with all of the
foregoing.

     "RELATED TRANSACTIONS DOCUMENTS" means the Loan Documents and the
Capitalization Documents.

     "RELEASE" means a "RELEASE", as such term is defined in CERCLA.

                                      -25-
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     "REPLACEMENT LENDER" is defined in CLAUSE (f) of SECTION 10.11.1.

     "REQUIRED LENDERS" means, at any time, (i) Lenders holding at least 66 2/3%
of the Total Exposure Amount (if there are more than two Lenders on such date of
determination) and (ii) Lenders holding 100% of the Total Exposure Amount (if
there are two or fewer Lenders on such date of determination).

     "RESOURCE CONSERVATION AND RECOVERY ACT" means the Resource Conservation
and Recovery Act, 42 U.S.C. Section 6901, ET SEQ., as amended.

     "RESTRICTED JUNIOR PAYMENT" means: (i) any dividend or other distribution,
direct or indirect, on account of any shares of any class of Capital Securities,
or ownership interest in, the Borrower or any of its Subsidiaries now or
hereafter outstanding, except a dividend payable solely in shares of that class
of Capital Securities or other equity security to the holders of that class;
(ii) any redemption, conversion, exchange, retirement, sinking fund or similar
payment, purchase or other acquisition for value, direct or indirect, of any
shares of any class of Capital Securities, or ownership interest in, the
Borrower or any of its Subsidiaries now or hereafter outstanding; (iii) any
payment or prepayment of interest on, principal of, premium, if any, redemption,
conversion, exchange, purchase, retirement, defeasance, sinking fund or similar
payment with respect to any Subordinated Debt, Seller Note Indebtedness, or the
Senior Unsecured Notes; and (iv) any payment made to retire, or to obtain the
surrender of, any outstanding warrants, options or other rights to acquire
shares of any class of Capital Securities, or ownership interest in the Borrower
or any of its Subsidiaries now or hereafter outstanding.

     "REVOLVING LOAN" is defined in SECTION 2.1.1.

     "REVOLVING LOAN COMMITMENT" means, relative to any Lender, such Lender's
obligation (if any) to make Revolving Loans pursuant to CLAUSE (a) of SECTION
2.1.1.

     "REVOLVING LOAN COMMITMENT AMOUNT" means, on any date, $40,000,000, as such
amount may be reduced from time to time pursuant to SECTION 2.2.

     "REVOLVING NOTE" means a promissory note of the Borrower payable to any
Lender, in the form of EXHIBIT A-1 hereto (as such promissory note may be
amended, endorsed or otherwise modified from time to time), evidencing the
aggregate Indebtedness of the Borrower to such Lender resulting from outstanding
Revolving Loans, and also means all other promissory notes accepted from time to
time in substitution therefor or renewal thereof.

     "S&P" means Standard & Poor's Rating Services, a division of McGraw-Hill,
Inc.

     "SALE AND LEASEBACK TRANSACTION" means any agreement or arrangement
providing for the sale or transfer by any Person of any real property and any
improvements thereon (now owned or hereafter acquired) to another Person and the
subsequent lease or rental of such real property or improvements or other
similar property from such other Person.

     "SCOTIA CAPITAL" is defined in the PREAMBLE.

     "SEC" means the Securities and Exchange Commission.

                                      -26-
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     "SECURED DEBT" means, on any date, the amount of all Total Debt secured by
a Lien on any assets of the Borrower or any of its Subsidiaries.

     "SECURED LEVERAGE RATIO" means, as of any date of determination, the ratio
of

          (a) all Secured Debt outstanding on such date (including after giving
     effect to any Credit Extensions to be made)

     TO

          (b) EBITDA computed for the period consisting of the four immediately
     preceding Fiscal Quarters for which financial information has been
     delivered to the Lenders pursuant to SECTION 7.1.1.

     "SECURED PARTIES" means, collectively, the Lenders, the Issuers, the
Administrative Agent, each counterparty to a Rate Protection Agreement that is
(or at the time such Rate Protection Agreement was entered into, was) a Lender
or an Affiliate thereof, and (in each case) each of their respective successors,
transferees and assigns.

     "SECURITY DOCUMENTS" means all instruments, documents and agreements
executed by or on behalf of any Person to guaranty or provide collateral
security with respect to the Obligations including any security agreement or
pledge agreement, any guaranty of the Obligations, any mortgage or deed of
trust, and all instruments, documents and agreements executed pursuant to the
terms of the foregoing.

     "SELLER NOTE INDEBTEDNESS" is defined in CLAUSE (j) of SECTION 7.2.2.

     "SELLER NOTES" means the unsecured subordinated notes delivered by a
Subsidiary of the Borrower in respect of Seller Note Indebtedness.

     "SENIOR UNSECURED NOTE DOCUMENTS" means collectively, the indentures
(including the Indenture), note purchase agreements, promissory notes,
guarantees, and other instruments and agreements evidencing the terms of the
Senior Unsecured Notes, as amended, supplemented, amended and restated or
otherwise modified in accordance with SECTION 7.2.12.

     "SENIOR UNSECURED NOTES" is defined in the SECOND RECITAL.

     "STATED AMOUNT" means, on any date and with respect to a particular Letter
of Credit, the total amount then available to be drawn under such Letter of
Credit.

     "STATED EXPIRY DATE" is defined in SECTION 2.6.

     "STATED MATURITY DATE" means February 20, 2006.

     "SUBJECT TRANSACTION" is defined in SECTION 1.4.

     "SUB DEBT DOCUMENTS" means, collectively, loan agreements, indentures
(including the CBI Indenture), note purchase agreements, promissory notes,
guarantees, and other instruments

                                      -27-
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and agreements evidencing the terms of Subordinated Debt, as amended,
supplemented, amended and restated or otherwise modified in accordance with
SECTION 7.2.12.

     "SUBORDINATED DEBT" means (i) the CBI Senior Subordinated Notes and (ii) if
applicable, any other unsecured Indebtedness of the Borrower subordinated in
right of payment to the Obligations pursuant to documentation containing
redemption and other prepayment events, maturities, amortization schedules,
covenants, events of default, remedies, acceleration rights, subordination
provisions and other material terms satisfactory to the Required Lenders.

     "SUBORDINATION PROVISIONS" is defined in SECTION 8.1.11.

     "SUBSIDIARY" means, with respect to any Person, any other Person of which
more than 50% of the outstanding Voting Securities of such other Person
(irrespective of whether at the time Capital Securities of any other class or
classes of such other Person shall or might have voting power upon the
occurrence of any contingency) is at the time directly or indirectly owned or
controlled by such Person, by such Person and one or more other Subsidiaries of
such Person, or by one or more other Subsidiaries of such Person. Unless the
context otherwise specifically requires, the term "Subsidiary" shall be a
reference to a Subsidiary of the Borrower.

     "SUBSIDIARY GUARANTOR" means each U.S. Subsidiary existing on the Closing
Date in addition to each other U.S. Subsidiary that has executed and delivered
to the Administrative Agent a Subsidiary Guaranty in accordance with the terms
of this Agreement.

         "SUBSIDIARY GUARANTY" means the subsidiary guaranty executed and
delivered by an Authorized Officer of each U.S. Subsidiary pursuant to the terms
of this Agreement, substantially in the form of EXHIBIT F hereto, as amended,
supplemented, amended and restated or otherwise modified from time to time.

     "SUBSIDIARY PLEDGE AND SECURITY AGREEMENT" means the Pledge and Security
Agreement executed and delivered by each U.S. Subsidiary that in turn has any
Subsidiaries, substantially in the form of EXHIBIT G-2 hereto, as amended,
supplemented, amended and restated or otherwise modified from time to time.

     "SWAP AMOUNTS" is defined in the FIRST RECITAL.

     "SWING LINE LENDER" means, subject to the terms of this Agreement, Scotia
Capital.

     "SWING LINE LOAN" is defined in CLAUSE (b) of SECTION 2.1.1.

     "SWING LINE LOAN COMMITMENT" is defined in CLAUSE (b) of SECTION 2.1.1.

     "SWING LINE LOAN COMMITMENT AMOUNT" means, on any date, $2,000,000, as such
amount may be reduced from time to time pursuant to SECTION 2.2.

     "SWING LINE NOTE" means a promissory note of the Borrower payable to the
Swing Line Lender, in the form of EXHIBIT A-2 hereto (as such promissory note
may be amended, endorsed or otherwise modified from time to time), evidencing
the aggregate Indebtedness of the Borrower to the Swing Line Lender resulting
from outstanding Swing Line Loans, and also

                                      -28-
<Page>

means all other promissory notes accepted from time to time in substitution
therefor or renewal thereof.

     "SYNDICATION AGENT" is defined in the PREAMBLE.

     "SYNTHETIC LEASE" means, as applied to any Person, any lease (including
leases that may be terminated by the lessee at any time) of any property
(whether real, personal or mixed) (a) that is not a capital lease in accordance
with GAAP and (b) in respect of which the lessee retains or obtains ownership of
the property so leased for federal income tax purposes, other than any such
lease under which that Person is the lessor.

     "TAXES" means all income, stamp or other taxes, duties, levies, imposts,
charges, assessments, fees, deductions or withholdings, now or hereafter
imposed, levied, collected, withheld or assessed by any Governmental Authority,
and all interest, penalties or similar liabilities with respect thereto.

     "TAYLOR" is defined in the FIRST RECITAL.

     "TAYLOR GENERAL PARTNER" is defined in the FIRST RECITAL.

     "TAYLOR HOLDING CO." is defined in the FIRST RECITAL.

     "TAYLOR SENIOR HOLDING CORP." means Taylor Senior Holding Corp., a Delaware
corporation.

     "TERMINATION DATE" means the date on which all Obligations (other than
contingent indemnification obligations to the extent no unsatisfied claim giving
rise thereto has been asserted) have been paid in full in cash, all Letters of
Credit have been terminated or expired (or been Cash Collateralized), all Rate
Protection Agreements have been terminated and all Commitments shall have
terminated.

     "TOTAL CONSIDERATION" means the total consideration paid with respect to
any acquisition, including (i) all payments made in cash and property, (ii) to
the extent not included in CLAUSE (i) above, the amount paid or to be paid
pursuant to noncompete agreements and consulting agreements, (iii) the amount of
debt and other liabilities assumed and/or incurred (including in the case of an
acquisition of Capital Securities, the amount of debt and other liabilities of
the Person to be acquired) and (iv) the amount of all transaction fees.

     "TOTAL DEBT" means, on any date, the outstanding principal amount of all
Indebtedness of the Borrower and its Subsidiaries of the type referred to in
CLAUSE (a) (which, in the case of the Loans, shall be deemed to equal the
average daily amount of the Loans outstanding for the four Fiscal Quarters
ending on or immediately preceding the date of determination), CLAUSE (b)
(which, in the case of Letter of Credit Outstandings shall be deemed to equal
the average daily amount of Letter of Credit Outstandings for the four Fiscal
Quarters ending on or immediately preceding the date of determination), CLAUSE
(c) and CLAUSE (g), in each case of the definition of "Indebtedness" (exclusive
of intercompany Indebtedness between the Borrower and its Subsidiaries) and any
Contingent Liability in respect of any of the foregoing.

                                      -29-
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     "TOTAL EXPOSURE AMOUNT" means, on any date of determination (and without
duplication), the outstanding principal amount of all Loans, the aggregate
amount of all Letter of Credit Outstandings and the unfunded amount of the
Commitments.

     "TRADEMARK SECURITY AGREEMENT" means any Trademark Security Agreement
executed and delivered by any Obligor substantially in the form of Exhibit B to
any Pledge and Security Agreement, as amended, supplemented, amended and
restated or otherwise modified from time to time.

     "TYPE" means, relative to any Loan, the portion thereof, if any, being
maintained as a Base Rate Loan or a LIBO Rate Loan.

     "UCC" means the Uniform Commercial Code as in effect from time to time in
the State of New York; PROVIDED, that if, with respect to any Filing Statement
or by reason of any provisions of law, the perfection or the effect of
perfection or non-perfection of the security interests granted to the
Administrative Agent pursuant to the applicable Loan Document is governed by the
Uniform Commercial Code as in effect in a jurisdiction of the United States
other than New York, then "UCC" means the Uniform Commercial Code as in effect
from time to time in such other jurisdiction for purposes of the provisions of
each Loan Document and any Filing Statement relating to such perfection or
effect of perfection or non-perfection.

     "UNFINANCED CAPITAL EXPENDITURES" means that portion of Capital
Expenditures not financed under capital leases or other Indebtedness (other than
Loans).

     "UNITED STATES" or "U.S." means the United States of America, its fifty
states and the District of Columbia.

     "U.S. SUBSIDIARY" means any Subsidiary that is incorporated or organized
under the laws of the United States or a state thereof.

     "UTILIZATION RATIO" means, as of the last day of any Fiscal Quarter, the
ratio of

          (a) the sum of (i) the average daily Stated Amount of Letters of
     Credit plus (ii) the average daily aggregate amount of Revolving Loans
     outstanding, in each case during such Fiscal Quarter

     TO

          (b) the average Revolving Loan Commitment Amount during such Fiscal
     Quarter.

     "VOTING SECURITIES" means, with respect to any Person, Capital Securities
of any class or kind ordinarily having the power to vote for the election of
directors, managers or other voting members of the governing body of such
Person.

     "WARRANTS" means warrants to purchase shares of Common Stock of the
Borrower that expire on January 31, 2008 and were initially issued by CBI in
connection with the issuance of the CBI Preferred Stock.

                                      -30-
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     "WELFARE PLAN" means a "welfare plan", as such term is defined in Section
3(1) of ERISA.

     "WHOLLY OWNED SUBSIDIARY" means any Subsidiary all of the outstanding
Capital Securities of which (other than any director's qualifying shares or
investments by foreign nationals mandated by applicable laws) is owned directly
or indirectly by the Borrower.

SECTION 1.2. USE OF DEFINED TERMS. Unless otherwise defined or the context
     otherwise requires, terms for which meanings are provided in this Agreement
     shall have such meanings when used in each other Loan Document and the
     Disclosure Schedule.

SECTION 1.3. CROSS-REFERENCES. Unless otherwise specified, references in a Loan
     Document to any Article or Section are references to such Article or
     Section of such Loan Document, and references in any Article, Section or
     definition to any clause are references to such clause of such Article,
     Section or definition.

SECTION 1.4. ACCOUNTING TERMS; UTILIZATION OF GAAP FOR PURPOSES OF CALCULATIONS
     UNDER AGREEMENT. For purposes of this Agreement and each other Loan
     Document, all accounting terms not otherwise defined herein shall have the
     meanings assigned to such terms in conformity with GAAP. Financial
     statements and other information furnished to the Administrative Agent
     pursuant to SECTION 7.1.1 shall be prepared in accordance with GAAP. No
     Accounting Changes shall affect financial covenants, standards or terms in
     this Agreement or any other Loan Document; PROVIDED that the Borrower shall
     prepare footnotes to each Compliance Certificate and the financial
     statements required to be delivered hereunder that show the differences
     between the financial statements delivered (which reflect such Accounting
     Changes) and the basis for calculating financial covenant compliance
     (without reflecting such Accounting Changes). Unless otherwise expressly
     provided, all financial covenants and defined financial terms shall be
     computed on a consolidated basis for the Borrower and its Subsidiaries, in
     each case without duplication. In addition, with respect to any period
     during which a Permitted Acquisition, the Qualified SLB or any Disposition
     made in accordance with CLAUSE (n) of SECTION 7.2.11 has occurred (each, a
     "SUBJECT TRANSACTION"), EBITDA and the components of Fixed Charge Coverage
     Ratio and Interest Coverage Ratio shall be calculated with respect to such
     period on a PRO FORMA basis (including PRO FORMA adjustments arising out of
     events which are directly attributable to a specific transaction, are
     factually supportable and are expected to have a continuing impact, in each
     case determined on a basis consistent with the definition of "Permitted
     Acquisition") using the historical financial statements of any business so
     acquired or to be acquired or the subject of the Qualified SLB or such
     Disposition made in accordance with CLAUSE (n) of SECTION 7.2.11 and the
     consolidated financial statements of the Borrower and its Subsidiaries
     which shall be reformulated as if such Subject Transaction, and any
     Indebtedness incurred or repaid in connection therewith, had been
     consummated or incurred or repaid at the beginning of such period (and
     assuming that such Indebtedness bears interest during any portion of the
     applicable measurement period prior to the relevant acquisition at the
     weighted average of the interest rates applicable to outstanding Loans
     incurred during such period).

                                      -31-
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                                   ARTICLE II
                       COMMITMENTS, BORROWING AND ISSUANCE
                     PROCEDURES, NOTES AND LETTERS OF CREDIT

SECTION 2.1. COMMITMENTS. On the terms and subject to the conditions of this
     Agreement, the Lenders and the Issuers severally agree to make Credit
     Extensions as set forth below.

SECTION 2.1.1. REVOLVING LOAN COMMITMENT AND SWING LINE LOAN COMMITMENT. From
     time to time on any Business Day occurring from and after the Effective
     Date but prior to the Commitment Termination Date,

(a) each Lender agrees that it will make loans (relative to such Lender, its
       "REVOLVING LOANS") to the Borrower equal to such Lender's Percentage of
       the aggregate amount of each Borrowing of the Revolving Loans requested
       by the Borrower to be made on such day; and

(b) the Swing Line Lender agrees that it will make loans (its "SWING LINE
       LOANS") to the Borrower equal to the principal amount of the Swing Line
       Loan requested by the Borrower to be made on such day. The Commitment of
       the Swing Line Lender described in this clause is herein referred to as
       its "SWING LINE LOAN COMMITMENT".

On the terms and subject to the conditions hereof, the Borrower may from time to
time borrow, prepay and reborrow Revolving Loans and Swing Line Loans. No Lender
shall be permitted or required to make any Revolving Loan if, after giving
effect thereto, the aggregate outstanding principal amount of all Revolving
Loans of such Lender, together with such Lender's Percentage of the aggregate
amount of all Swing Line Loans and Letter of Credit Outstandings, would exceed
such Lender's Percentage of the lesser of the then existing (x) Revolving Loan
Commitment Amount and (y) the Borrowing Base Amount then in effect. Furthermore,
the Swing Line Lender shall not be permitted or required to make Swing Line
Loans if, after giving effect thereto, (i) the aggregate outstanding principal
amount of all Swing Line Loans would exceed the then existing Swing Line Loan
Commitment Amount or (ii) the sum of all Swing Line Loans, Revolving Loans and
the aggregate amount of Letter of Credit Outstandings would exceed the lesser of
the (x) then existing Revolving Loan Commitment Amount and (y) Borrowing Base
Amount then in effect.

SECTION 2.1.2. LETTER OF CREDIT COMMITMENT. From time to time on any Business
     Day occurring from and after the Effective Date but prior to the Commitment
     Termination Date, the relevant Issuer agrees that it will

(a) issue one or more standby letters of credit (relative to such Issuer, its
       "LETTER OF CREDIT") for the account of the Borrower or any Subsidiary
       Guarantor in the Stated Amount requested by the Borrower on such day; or

(b) extend the Stated Expiry Date of an existing standby Letter of Credit
       previously issued hereunder.

No Stated Expiry Date shall extend beyond the earlier of (i) the Commitment
Termination Date and (ii) unless otherwise agreed to by such Issuer in its sole
discretion, one year from the date of

                                      -32-
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such extension. No Issuer shall be permitted or required to issue any Letter of
Credit if, after giving effect thereto, (i) the aggregate amount of all Letter
of Credit Outstandings would exceed the Letter of Credit Commitment Amount or
(ii) the sum of the aggregate amount of all Letter of Credit Outstandings plus
the aggregate principal amount of all Revolving Loans and Swing Line Loans then
outstanding would exceed the lesser of the (x) then existing Revolving Loan
Commitment Amount and (y) Borrowing Base Amount then in effect.

SECTION 2.2. REDUCTION OF THE COMMITMENT AMOUNTS. The Commitment Amounts are
     subject to reduction from time to time as set forth below.

SECTION 2.2.1. OPTIONAL. The Borrower may, from time to time on any Business Day
     occurring after the Effective Date, voluntarily reduce the amount of the
     Revolving Loan Commitment Amount, the Swing Line Loan Commitment Amount or
     the Letter of Credit Commitment Amount on the Business Day so specified by
     the Borrower; PROVIDED, HOWEVER, that all such reductions shall require at
     least one Business Day's prior notice to the Administrative Agent and be
     permanent, and any partial reduction of any Commitment Amount shall be in a
     minimum amount of $1,000,000 and in an integral multiple of $1,000,000. Any
     optional or mandatory reduction of the Revolving Loan Commitment Amount
     pursuant to the terms of this Agreement which reduces the Revolving Loan
     Commitment Amount below the sum of (i) the Swing Line Loan Commitment
     Amount and (ii) the Letter of Credit Commitment Amount shall result in an
     automatic and corresponding reduction of the Swing Line Loan Commitment
     Amount and/or Letter of Credit Commitment Amount (as directed by the
     Borrower in a notice to the Administrative Agent delivered together with
     the notice of such voluntary reduction in the Revolving Loan Commitment
     Amount) to an aggregate amount not in excess of the Revolving Loan
     Commitment Amount, as so reduced, without any further action on the part of
     the Swing Line Lender or any Issuer.

SECTION 2.3. BORROWING PROCEDURES. Loans (other than Swing Line Loans) shall be
     made by the Lenders in accordance with SECTION 2.3.1, and Swing Line Loans
     shall be made by the Swing Line Lender in accordance with SECTION 2.3.2.

SECTION 2.3.1. BORROWING PROCEDURE. In the case of other than Swing Line Loans,
     by delivering a Borrowing Request to the Administrative Agent on or before
     10:00 a.m. on a Business Day (of which the Administrative Agent shall
     inform the Lenders promptly upon receipt thereof), the Borrower may from
     time to time irrevocably request, on not less than one Business Day's
     notice in the case of Base Rate Loans, or three Business Days' notice in
     the case of LIBO Rate Loans, and in either case not more than five Business
     Days' notice, that a Borrowing be made, in the case of LIBO Rate Loans, in
     a minimum amount of $5,000,000 and an integral multiple of $1,000,000, in
     the case of Base Rate Loans, in a minimum amount of $1,000,000 and an
     integral multiple of $500,000 or, in either case, in the unused amount of
     the applicable Commitment; PROVIDED, HOWEVER, that all of the initial Loans
     shall be made as Base Rate Loans. On the terms and subject to the
     conditions of this Agreement, each Borrowing shall be comprised of the type
     of Loans, and shall be made on the Business Day, specified in such
     Borrowing Request. In the case of other than Swing Line Loans, on or before
     11:00 a.m. on such Business Day each Lender that has a Commitment to make
     the Loans being

                                      -33-
<Page>

     requested shall deposit with the Administrative Agent same day funds in an
     amount equal to such Lender's Percentage of the requested Borrowing. Such
     deposit will be made to an account which the Administrative Agent shall
     specify from time to time by notice to the Lenders. To the extent funds are
     received from the Lenders, the Administrative Agent shall make such funds
     available to the Borrower by wire transfer to the accounts the Borrower
     shall have specified in its Borrowing Request. No Lender's obligation to
     make any Loan shall be affected by any other Lender's failure to make any
     Loan.

SECTION 2.3.2. SWING LINE LOANS. (a) By telephonic notice to the Swing Line
     Lender on or before 12:00 noon on a Business Day (followed (within one
     Business Day) by the delivery of a confirming Borrowing Request), the
     Borrower may from time to time irrevocably request that Swing Line Loans be
     made by the Swing Line Lender in an aggregate minimum principal amount of
     $500,000 and an integral multiple of $500,000. All Swing Line Loans shall
     be made as Base Rate Loans and shall not be entitled to be converted into
     LIBO Rate Loans. The proceeds of each Swing Line Loan shall be made
     available by the Swing Line Lender to the Borrower by wire transfer to the
     account the Borrower shall have specified in its notice therefor by the
     close of business on the Business Day telephonic notice is received by the
     Swing Line Lender.

(b) If (i) any Swing Line Loan shall be outstanding for more than four Business
       Days, (ii) any Swing Line Loan is or will be outstanding on a date when
       the Borrower requests that a Revolving Loan be made, or (iii) any Default
       shall occur and be continuing, then each Lender (other than the Swing
       Line Lender) irrevocably agrees that it will, automatically and without
       notice from the Swing Line Lender, make a Revolving Loan (which shall
       initially be funded as a Base Rate Loan) in an amount equal to such
       Lender's Percentage of the aggregate principal amount of all such Swing
       Line Loans then outstanding (such outstanding Swing Line Loans
       hereinafter referred to as the "REFUNDED SWING LINE LOANS"). On or before
       11:00 a.m. on the first Business Day following receipt by each Lender of
       a request to make Revolving Loans as provided in the preceding sentence,
       each Lender shall deposit in an account specified by the Swing Line
       Lender the amount so requested in same day funds and such funds shall be
       applied by the Swing Line Lender to repay the Refunded Swing Line Loans.
       At the time the Lenders make the above referenced Revolving Loans the
       Swing Line Lender shall be deemed to have made, in consideration of the
       making of the Refunded Swing Line Loans, Revolving Loans in an amount
       equal to the Swing Line Lender's Percentage of the aggregate principal
       amount of the Refunded Swing Line Loans. Upon the making (or deemed
       making, in the case of the Swing Line Lender) of any Revolving Loans
       pursuant to this clause, the amount so funded shall become outstanding
       under such Lender's Revolving Note and shall no longer be owed under the
       Swing Line Note. All interest payable with respect to any Revolving Loans
       made (or deemed made, in the case of the Swing Line Lender) pursuant to
       this clause shall be appropriately adjusted to reflect the period of time
       during which the Swing Line Lender had outstanding Swing Line Loans in
       respect of which such Revolving Loans were made. Each Lender's obligation
       to make the Revolving Loans referred to in this clause shall be absolute
       and unconditional and shall not be affected by any circumstance,
       including (i) any set-off, counterclaim, recoupment, defense or other
       right which such Lender may have against the Swing Line Lender, any
       Obligor or any Person for any reason whatsoever; (ii) the occurrence or
       continuance of any Default; (iii)

                                      -34-
<Page>

     any adverse change in the condition (financial or otherwise) of any
     Obligor; (iv) the acceleration or maturity of any Obligations or the
     termination of any Commitment after the making of any Swing Line Loan; (v)
     any breach of any Loan Document by any Person; or (vi) any other
     circumstance, happening or event whatsoever, whether or not similar to any
     of the foregoing.

SECTION 2.4. CONTINUATION AND CONVERSION ELECTIONS. By delivering a
     Continuation/ Conversion Notice to the Administrative Agent on or before
     10:00 a.m. on a Business Day, the Borrower may from time to time
     irrevocably elect, on not less than one Business Day's notice in the case
     of Base Rate Loans, or three Business Days' notice in the case of LIBO Rate
     Loans, and in either case not more than five Business Days' notice, that
     all, or any portion in an aggregate minimum amount of $5,000,000 and an
     integral multiple of $1,000,000 be, in the case of Base Rate Loans,
     converted into LIBO Rate Loans or be, in the case of LIBO Rate Loans,
     converted into Base Rate Loans or continued as LIBO Rate Loans (in the
     absence of delivery of a Continuation/Conversion Notice with respect to any
     LIBO Rate Loan at least three Business Days (but not more than five
     Business Days) before the last day of the then current Interest Period with
     respect thereto, such LIBO Rate Loan shall, on such last day, automatically
     convert to a Base Rate Loan); PROVIDED, HOWEVER, that (x) each such
     conversion or continuation shall be pro rated among the applicable
     outstanding Loans of all Lenders that have made such Loans, and (y) no
     portion of the outstanding principal amount of any Loans may be continued
     as, or be converted into, LIBO Rate Loans when any Default has occurred and
     is continuing.

SECTION 2.5. FUNDING. Each Lender may, if it so elects, fulfill its obligation
     to make, continue or convert LIBO Rate Loans hereunder by causing one of
     its foreign branches or Affiliates (or an international banking facility
     created by such Lender) to make or maintain such LIBO Rate Loan; PROVIDED,
     HOWEVER, that such LIBO Rate Loan shall nonetheless be deemed to have been
     made and to be held by such Lender, and the obligation of the Borrower to
     repay such LIBO Rate Loan shall nevertheless be to such Lender for the
     account of such foreign branch, Affiliate or international banking
     facility. In addition, the Borrower hereby consents and agrees that, for
     purposes of any determination to be made for purposes of SECTIONS 4.1, 4.2,
     4.3 or 4.4, it shall be conclusively assumed that each Lender elected to
     fund all LIBO Rate Loans by purchasing Dollar deposits in its LIBOR
     Office's interbank eurodollar market.

SECTION 2.6. ISSUANCE PROCEDURES. By delivering to the Administrative Agent an
     Issuance Request on or before 10:00 a.m. on a Business Day, the Borrower
     may from time to time irrevocably request on not less than three nor more
     than ten Business Days' notice, in the case of an initial issuance of a
     Letter of Credit and not less than three Business Days' prior notice, in
     the case of a request for the extension of the Stated Expiry Date of a
     standby Letter of Credit (in each case, unless a shorter notice period is
     agreed to by the Issuer, in its sole discretion), that an Issuer issue, or
     extend the Stated Expiry Date of, a Letter of Credit in such form as may be
     requested by the Borrower and approved by such Issuer, solely for the
     purposes described in SECTION 7.1.7. Each Letter of Credit shall by its
     terms be stated to expire on a date (its "STATED EXPIRY Date") no later
     than the earlier to occur of (i) the Commitment Termination Date or (ii)
     (unless otherwise agreed to by an Issuer, in its sole discretion), one year
     from the date of its issuance. Each Issuer will

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     make available to the beneficiary thereof the original of the Letter of
     Credit which it issues.

SECTION 2.6.1. OTHER LENDERS' PARTICIPATION. Upon the issuance of each Letter of
     Credit, and without further action, each Lender (other than such Issuer)
     shall be deemed to have irrevocably purchased, to the extent of its
     Percentage to make Revolving Loans, a participation interest in such Letter
     of Credit (including the Contingent Liability and any Reimbursement
     Obligation with respect thereto), and such Lender shall, to the extent of
     its Percentage to make Revolving Loans, be responsible for reimbursing
     within one Business Day such Issuer for Reimbursement Obligations which
     have not been reimbursed by the Borrower in accordance with SECTION 2.6.3.
     In addition, such Lender shall, to the extent of its Percentage to make
     Revolving Loans, be entitled to receive a ratable portion of the Letter of
     Credit fees payable pursuant to SECTION 3.3.4 with respect to each Letter
     of Credit (other than the issuance fees payable to an Issuer of such Letter
     of Credit pursuant to the last sentence of SECTION 3.3.4) and of interest
     payable pursuant to SECTION 3.2 with respect to any Reimbursement
     Obligation. To the extent that any Lender has reimbursed any Issuer for a
     Disbursement, such Lender shall be entitled to receive its ratable portion
     of any amounts subsequently received (from the Borrower or otherwise) in
     respect of such Disbursement.

SECTION 2.6.2. DISBURSEMENTS. An Issuer will notify the Borrower and the
     Administrative Agent promptly of the presentment for payment of any Letter
     of Credit issued by such Issuer, together with notice of the date (the
     "DISBURSEMENT DATE") such payment shall be made (each such payment, a
     "DISBURSEMENT"). Subject to the terms and provisions of such Letter of
     Credit and this Agreement, the applicable Issuer shall make such payment to
     the beneficiary (or its designee) of such Letter of Credit. Prior to 11:00
     a.m. on the first Business Day following the Disbursement Date, the
     Borrower will reimburse the Administrative Agent, for the account of the
     applicable Issuer, for all amounts which such Issuer has disbursed under
     such Letter of Credit, together with interest thereon at a rate per annum
     equal to the rate per annum then in effect for Base Rate Loans (with the
     then Applicable Margin for Revolving Loans accruing on such amount)
     pursuant to SECTION 3.2 for the period from the Disbursement Date through
     the date of such reimbursement. Without limiting in any way the foregoing
     and notwithstanding anything to the contrary contained herein or in any
     separate application for any Letter of Credit, the Borrower hereby
     acknowledges and agrees that it shall be obligated to reimburse the
     applicable Issuer upon each Disbursement of a Letter of Credit, and it
     shall be deemed to be the obligor for purposes of each such Letter of
     Credit issued hereunder (whether the account party on such Letter of Credit
     is the Borrower or a Subsidiary Guarantor).

SECTION 2.6.3. REIMBURSEMENT. The obligation (a "REIMBURSEMENT OBLIGATION") of
     the Borrower under SECTION 2.6.2 to reimburse an Issuer with respect to
     each Disbursement (including interest thereon), and, upon the failure of
     the Borrower to reimburse an Issuer, each Lender's obligation under SECTION
     2.6.1 to reimburse an Issuer, shall be absolute and unconditional under any
     and all circumstances and irrespective of any setoff, counterclaim or
     defense to payment which the Borrower or such Lender, as the case may be,
     may have or have had against such Issuer or any Lender, including any
     defense based upon the failure of any Disbursement to conform to the terms
     of the applicable Letter of

                                      -36-
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     Credit (if, in such Issuer's good faith opinion, such Disbursement is
     determined to be appropriate) or any non-application or misapplication by
     the beneficiary of the proceeds of such Letter of Credit; PROVIDED,
     HOWEVER, that after paying in full its Reimbursement Obligation hereunder,
     nothing herein shall adversely affect the right of the Borrower or such
     Lender, as the case may be, to commence any proceeding against an Issuer
     for any wrongful Disbursement made by such Issuer under a Letter of Credit
     as a result of acts or omissions constituting gross negligence or wilful
     misconduct on the part of such Issuer.

SECTION 2.6.4. DEEMED DISBURSEMENTS. Upon the occurrence and during the
     continuation of any Default under SECTION 8.1.9 or upon notification by the
     Administrative Agent (acting at the direction of the Required Lenders) to
     the Borrower of its obligations under this Section, following the
     occurrence and during the continuation of any other Event of Default,

(a) the aggregate Stated Amount of all Letters of Credit shall, without demand
     upon or notice to the Borrower or any other Person, be deemed to have been
     paid or disbursed by the Issuers of such Letters of Credit (notwithstanding
     that such amount may not in fact have been paid or disbursed); and

(b) the Borrower shall be immediately obligated to reimburse the Issuers for
     the amount deemed to have been so paid or disbursed by such Issuers.

Amounts payable by the Borrower pursuant to this Section shall be deposited in
immediately available funds with the Administrative Agent and held as collateral
security for the Reimbursement Obligations. When all Defaults giving rise to the
deemed disbursements under this Section have been cured or waived the
Administrative Agent shall return to the Borrower all amounts then on deposit
with the Administrative Agent pursuant to this Section which have not been
applied to the satisfaction of the Reimbursement Obligations.

SECTION 2.6.5. NATURE OF REIMBURSEMENT OBLIGATIONS. The Borrower, each other
     Obligor and, to the extent set forth in SECTION 2.6.1, each Lender shall
     assume all risks of the acts, omissions or misuse of any Letter of Credit
     by the beneficiary thereof. No Issuer (except to the extent of its own
     gross negligence or wilful misconduct) shall be responsible for:

(a) the form, validity, sufficiency, accuracy, genuineness or legal effect of
     any Letter of Credit or any document submitted by any party in connection
     with the application for and issuance of a Letter of Credit, even if it
     should in fact prove to be in any or all respects invalid, insufficient,
     inaccurate, fraudulent or forged;

(b) the form, validity, sufficiency, accuracy, genuineness or legal effect of
     any instrument transferring or assigning or purporting to transfer or
     assign a Letter of Credit or the rights or benefits thereunder or the
     proceeds thereof in whole or in part, which may prove to be invalid or
     ineffective for any reason;

(c) failure of the beneficiary to comply fully with conditions required in
     order to demand payment under a Letter of Credit;

                                      -37-
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(d) errors, omissions, interruptions or delays in transmission or delivery of
     any messages, by mail, cable, telegraph, telex or otherwise; or

(e) any loss or delay in the transmission or otherwise of any document or draft
     required in order to make a Disbursement under a Letter of Credit.

None of the foregoing shall affect, impair or prevent the vesting of any of the
rights or powers granted to any Issuer or any Lender hereunder. In furtherance
and not in limitation or derogation of any of the foregoing, any action taken or
omitted to be taken by an Issuer in good faith (and not constituting gross
negligence or wilful misconduct) shall be binding upon each Obligor and each
such Secured Party, and shall not put such Issuer under any resulting liability
to any Obligor or any Secured Party, as the case may be.

SECTION 2.7. NOTES. (a) The Borrower agrees that, upon the request to the
     Administrative Agent by any Lender, the Borrower will execute and deliver
     to such Lender a Note evidencing the Loans made by, and payable to the
     order of, such Lender in a maximum principal amount equal to such Lender's
     Percentage of the original applicable Commitment Amount. The Borrower
     hereby irrevocably authorizes each Lender to make (or cause to be made)
     appropriate notations on the grid attached to such Lender's Note (or on any
     continuation of such grid), which notations, if made, shall evidence, INTER
     ALIA, the date of, the outstanding principal amount of, and the interest
     rate and Interest Period applicable to the Loans evidenced thereby. Such
     notations shall, to the extent not inconsistent with notations made by the
     Administrative Agent in the Register, be conclusive and binding on each
     Obligor absent manifest error; PROVIDED, HOWEVER, that the failure of any
     Lender to make any such notations shall not limit or otherwise affect any
     Obligations of any Obligor.

(b) The Borrower hereby designates the Administrative Agent to serve as the
     Borrower's agent, solely for the purpose of this clause, to maintain a
     register (the "REGISTER") on which the Administrative Agent will record
     each Lender's Commitment, the Loans made by each Lender and each repayment
     in respect of the principal amount of the Loans, annexed to which the
     Administrative Agent shall retain a copy of each Lender Assignment
     Agreement delivered to the Administrative Agent pursuant to SECTION
     10.11.1. Failure to make any recordation, or any error in such recordation,
     shall not affect any Obligor's Obligations. The entries in the Register
     shall be conclusive, in the absence of manifest error, and the Borrower,
     the Administrative Agent and the Lenders shall treat each Person in whose
     name a Loan is registered (or, if applicable, to which a Note has been
     issued) as the owner thereof for the purposes of all Loan Documents,
     notwithstanding notice or any provision herein to the contrary. Any
     assignment or transfer of a Commitment or the Loans made pursuant hereto
     shall be registered in the Register only upon delivery to the
     Administrative Agent of a Lender Assignment Agreement that has been
     executed by the requisite parties pursuant to SECTION 10.11.1. No
     assignment or transfer of a Lender's Commitment or Loans shall be effective
     unless such assignment or transfer shall have been recorded in the Register
     by the Administrative Agent as provided in this Section.

                                      -38-
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                                  ARTICLE III
                   REPAYMENTS, PREPAYMENTS, INTEREST AND FEES

SECTION 3.1. REPAYMENTS AND PREPAYMENTS; APPLICATION. The Borrower agrees that
     the Loans shall be repaid and prepaid pursuant to the following terms.

SECTION 3.1.1. REPAYMENTS AND PREPAYMENTS. The Borrower shall repay in full the
     unpaid principal amount of each Loan upon the applicable Stated Maturity
     Date therefor. Prior thereto, payments and prepayments of the Loans shall
     or may be made as set forth below.

(a) From time to time on any Business Day, the Borrower may make a voluntary
       prepayment, in whole or in part, of the outstanding principal amount of
       any

(i) Revolving Loans; PROVIDED, HOWEVER, that (A) any such prepayment of
       Revolving Loans shall be made PRO RATA among the Revolving Loans of the
       same type and, if applicable, having the same Interest Period of all
       Lenders that have made such Revolving Loans; (B) all such voluntary
       prepayments shall require at least one but no more than five Business
       Days' prior notice to the Administrative Agent; and (C) all such
       voluntary partial prepayments shall be, in the case of LIBO Rate Loans,
       in an aggregate minimum amount of $1,000,000 and an integral multiple of
       $1,000,000 and, in the case of Base Rate Loans, in an aggregate minimum
       amount of $500,000 and an integral multiple of $500,000; and

(ii) Swing Line Loans; PROVIDED, that (A) all such voluntary prepayments shall
       require prior telephonic notice to the Swing Line Lender on or before
       1:00 p.m. on the day of such prepayment (such notice to be confirmed in
       writing within 24 hours thereafter); and (B) all such voluntary partial
       prepayments shall be in an aggregate minimum amount of $500,000 and an
       integral multiple of $500,000.

(b) On each date when the sum of (i) the aggregate outstanding principal amount
       of all Revolving Loans and Swing Line Loans and (ii) the aggregate amount
       of all Letter of Credit Outstandings exceeds the lesser of (x) the then
       existing Revolving Loan Commitment Amount (as it may be reduced from time
       to time pursuant to this Agreement) and (y) the then applicable Borrowing
       Base Amount, the Borrower shall make a mandatory prepayment of Revolving
       Loans or Swing Line Loans (or both) and, if necessary, Cash Collateralize
       all Letter of Credit Outstandings, in an aggregate amount equal to such
       excess.

(c) Immediately upon any acceleration of the Stated Maturity Date of any Loans
       pursuant to SECTION 8.2 or SECTION 8.3, the Borrower shall repay all the
       Loans, unless, pursuant to SECTION 8.3, only a portion of all the Loans
       is so accelerated (in which case the portion so accelerated shall be so
       repaid).

(d) Within three Business Days of the receipt by Taylor Holding Co. of any
       principal or interest on the CBI Senior Subordinated Notes, the Borrower
       will repay the Loans in an amount equal to the lesser of (i) the amount
       of principal or interest received therefrom and (ii) the amount of Loans
       outstanding on the date of such repayment.

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(e) If for any period of three consecutive Business Days the sum of cash and
     Cash Equivalent Investments held by the Borrower and its Subsidiaries
     exceeds $10,000,000, then the Borrower shall on the fourth consecutive
     Business Day make a mandatory prepayment of Loans in an amount equal to the
     lesser of (x) such excess amount and (y) the aggregate outstanding
     principal amount of all Loans.

Each prepayment of any Loans made pursuant to this Section shall be without
premium or penalty, except as may be required by SECTION 4.4.

SECTION 3.1.2. APPLICATION. Amounts prepaid pursuant to SECTION 3.1.1 shall be
     applied as set forth in this Section. Each prepayment or repayment of the
     principal of the Loans shall be applied, to the extent of such prepayment
     or repayment, FIRST, to the principal amount thereof being maintained as
     Base Rate Loans, and SECOND, subject to the terms of SECTION 4.4, to the
     principal amount thereof being maintained as LIBO Rate Loans.

SECTION 3.2. INTEREST PROVISIONS. Interest on the outstanding principal amount
     of the Loans shall accrue and be payable in accordance with the terms set
     forth below.

SECTION 3.2.1. RATES. Subject to SECTION 2.3.2, pursuant to an appropriately
     delivered Borrowing Request or Continuation/Conversion Notice, the Borrower
     may elect that the Loans comprising a Borrowing accrue interest at a rate
     per annum:

(a) on that portion maintained from time to time as a Base Rate Loan, equal to
       the sum of the Alternate Base Rate from time to time in effect plus the
       Applicable Margin; PROVIDED that all Swing Line Loans shall always accrue
       interest at the then effective Applicable Margin for Revolving Loans
       maintained as Base Rate Loans; and

(b) on that portion maintained as a LIBO Rate Loan, during each Interest Period
       applicable thereto, equal to the sum of the LIBO Rate (Reserve Adjusted)
       for such Interest Period plus the Applicable Margin.

All LIBO Rate Loans shall bear interest from and including the first day of the
applicable Interest Period to (but not including) the last day of such Interest
Period at the interest rate determined as applicable to such LIBO Rate Loan.

SECTION 3.2.2. POST-MATURITY RATES. At the election of the Administrative Agent
     or the Required Lenders, after the occurrence of an Event of Default
     described in SECTION 8.1.1 or SECTION 8.1.3 (resulting from non compliance
     with SECTION 7.2.4, or CLAUSE (c) of SECTION 7.1.1) and automatically after
     the occurrence of an Event of Default described in SECTION 8.1.9, in each
     case, for so long as it continues, the Loans and other Obligations shall
     bear interest at a rate that is two percent (2.0%) in excess of the rates
     otherwise payable under this Agreement.

SECTION 3.2.3. PAYMENT DATES. Interest accrued on each Loan shall be payable,
     without duplication:

(a) on the Stated Maturity Date therefor;

                                      -40-
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(b) with respect to Base Rate Loans, on each Monthly Payment Date occurring
       after the Effective Date;

(c) with respect to LIBO Rate Loans, on the last day of each applicable
       Interest Period (and, if such Interest Period shall exceed three months,
       on the date occurring on each three-month interval occurring after the
       first day of such Interest Period);

(d) with respect to any Base Rate Loans converted into LIBO Rate Loans on a day
       when interest would not otherwise have been payable pursuant to CLAUSE
       (c), on the date of such conversion; and

(e) on that portion of any Loans the Stated Maturity Date of which is
       accelerated pursuant to SECTION 8.2 or SECTION 8.3, immediately upon such
       acceleration.

Interest accrued on Loans or other monetary Obligations after the date such
amount is due and payable (whether on the Stated Maturity Date, upon
acceleration or otherwise) shall be payable upon demand.

SECTION 3.3. FEES. The Borrower agrees to pay the fees set forth below. All such
     fees shall be non-refundable.

SECTION 3.3.1. UTILIZATION FEE. The Borrower agrees to pay to the Administrative
     Agent for the account of each Lender, for the period (including any portion
     thereof when any of its Commitments are suspended by reason of the
     Borrower's inability to satisfy any condition of ARTICLE V) commencing on
     the Effective Date and continuing through the Commitment Termination Date,
     a utilization fee in an amount equal to the Applicable Utilization Fee
     Margin, in each case on such Lender's Percentage of the sum of the average
     daily unused portion of the Revolving Loan Commitment Amount (net of Letter
     of Credit Outstandings). All utilization fees payable pursuant to this
     Section shall be calculated on a year comprised of 360 days and payable by
     the Borrower in arrears on each Quarterly Payment Date, commencing with the
     first Quarterly Payment Date following the Effective Date, and on the
     Commitment Termination Date. The making of Swing Line Loans shall not
     constitute usage of the Revolving Loan Commitment with respect to the
     calculation of utilization fees to be paid by the Borrower to the Lenders.

SECTION 3.3.2. AGENT'S FEE. The Borrower agrees to pay to the Administrative
     Agent, for its own account, the fees in the amounts and on the dates set
     forth in the Fee Letter.

SECTION 3.3.3. LETTER OF CREDIT FEE. The Borrower agrees to pay to the
     Administrative Agent, for the PRO RATA account of the applicable Issuer and
     each Lender, a Letter of Credit fee in an amount equal to the then
     effective Applicable Margin for Revolving Loans maintained as LIBO Rate
     Loans, multiplied by the Stated Amount of each such Letter of Credit, such
     fees being payable, without duplication, quarterly in arrears on each
     Quarterly Payment Date following the date of issuance of each Letter of
     Credit, upon the expiration or termination of such Letter of Credit and on
     the Commitment Termination Date. The Borrower further agrees to pay to the
     applicable Issuer (i) a fee in the amount of 1/4 of 1% per annum on the
     Stated Amount of each Letter of Credit, payable (without duplication)
     quarterly in arrears on each Quarterly Payment Date following the date of
     issuance of

                                      -41-
<Page>

     each Letter of Credit, upon the expiration or termination of such Letter of
     Credit and on the Commitment Termination Date and (ii) its customary
     administrative, issuance, amendment, payment and negotiation fees on the
     dates and in the amounts from time to time notified to the Borrower by such
     Issuer or as otherwise agreed to by the Borrower and such Issuer.

                                   ARTICLE IV
                     CERTAIN LIBO RATE AND OTHER PROVISIONS

SECTION 4.1. LIBO RATE LENDING UNLAWFUL. If any Lender shall determine (which
     determination shall, upon notice thereof to the Borrower and the
     Administrative Agent, be conclusive and binding on the Borrower) that the
     introduction of or any change in or in the interpretation of any law makes
     it unlawful, or any Governmental Authority asserts that it is unlawful, for
     such Lender to make or continue any Loan as, or to convert any Loan into, a
     LIBO Rate Loan, the obligations of such Lender to make, continue or convert
     any such LIBO Rate Loan shall, upon such determination, forthwith be
     suspended until such Lender shall notify the Administrative Agent that the
     circumstances causing such suspension no longer exist, and all outstanding
     LIBO Rate Loans payable to such Lender shall automatically convert into
     Base Rate Loans at the end of the then current Interest Periods with
     respect thereto or sooner, if required by such law or assertion.

SECTION 4.2. DEPOSITS UNAVAILABLE. If the Administrative Agent shall have
     determined that

(a) Dollar deposits in the relevant amount and for the relevant Interest Period
       are not available to it in its relevant market; or

(b) by reason of circumstances affecting its relevant market, adequate means do
       not exist for ascertaining the interest rate applicable hereunder to LIBO
       Rate Loans;

then, upon notice from the Administrative Agent to the Borrower and the Lenders,
the obligations of all Lenders under SECTION 2.3 and SECTION 2.4 to make or
continue any Loans as, or to convert any Loans into, LIBO Rate Loans shall
forthwith be suspended until the Administrative Agent shall notify the Borrower
and the Lenders that the circumstances causing such suspension no longer exist.

SECTION 4.3. INCREASED LIBO RATE LOAN COSTS, ETC. The Borrower agrees to
     reimburse each Lender and Issuer for any increase in the cost to such
     Lender or Issuer of, or any reduction in the amount of any sum receivable
     by such Secured Party in respect of, such Secured Party's Commitments and
     the making of Credit Extensions hereunder (including the making, continuing
     or maintaining (or of its obligation to make or continue) any Loans as, or
     of converting (or of its obligation to convert) any Loans into, LIBO Rate
     Loans) that arise in connection with any change in, or the introduction,
     adoption, effectiveness, interpretation, reinterpretation or phase-in after
     the Closing Date of, any law or regulation, directive, guideline, decision
     or request (whether or not having the force of law) of any Governmental
     Authority, except for such changes with respect to increased capital costs
     and Taxes which are governed by SECTIONS 4.5 and 4.6,

                                      -42-
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     respectively. Notwithstanding anything to the contrary contained herein,
     (i) the Borrower will not be required to compensate any Lender for any such
     amounts incurred by such Lender more than one hundred eighty (180) days
     prior to such Lender's written request to the Borrower for such
     compensation and (ii) a Lender shall not be entitled to any compensation
     described in this Section unless, at the time it requests such
     compensation, it is the policy or general practice of such Lender to
     request compensation for comparable costs in similar circumstances under
     other comparable loan agreements. Each affected Secured Party shall
     promptly notify the Administrative Agent and the Borrower in writing of the
     occurrence of any such event, stating the reasons therefor and the
     additional amount required fully to compensate such Secured Party for such
     increased cost or reduced amount. Such additional amounts shall be payable
     by the Borrower directly to such Secured Party within five days of its
     receipt of such notice, and such notice shall, in the absence of manifest
     error, be conclusive and binding on the Borrower.

SECTION 4.4. FUNDING LOSSES. In the event any Lender shall incur any loss or
     expense (including any loss or expense incurred by reason of the
     liquidation or reemployment of deposits or other funds acquired by such
     Lender to make or continue any portion of the principal amount of any Loan
     as, or to convert any portion of the principal amount of any Loan into, a
     LIBO Rate Loan) as a result of

(a) any conversion or repayment or prepayment of the principal amount of any
     LIBO Rate Loan on a date other than the scheduled last day of the Interest
     Period applicable thereto, whether pursuant to ARTICLE III or otherwise;

(b) any Loans not being made as LIBO Rate Loans in accordance with the
     Borrowing Request therefor; or

(c) any Loans not being continued as, or converted into, LIBO Rate Loans in
     accordance with the Continuation/Conversion Notice therefor;

then, upon the written notice of such Lender to the Borrower (with a copy to the
Administrative Agent), the Borrower shall, within five days of its receipt
thereof, pay directly to such Lender such amount as will (in the reasonable
determination of such Lender) reimburse such Lender for such loss or expense.
Such written notice shall, in the absence of manifest error, be conclusive and
binding on the Borrower.

SECTION 4.5. INCREASED CAPITAL COSTS. If any change in, or the introduction,
     adoption, effectiveness, interpretation, reinterpretation or phase-in of,
     any law or regulation, directive, guideline, decision or request (whether
     or not having the force of law) of any Governmental Authority affects or
     would affect the amount of capital required or expected to be maintained by
     any Secured Party or any Person controlling such Secured Party, and such
     Secured Party determines (in good faith but in its sole and absolute
     discretion) that the rate of return on its or such controlling Person's
     capital as a consequence of the Commitments or the Credit Extensions made,
     or the Letters of Credit participated in, by such Secured Party is reduced
     to a level below that which such Secured Party or such controlling Person
     could have achieved but for the occurrence of any such circumstance, then
     upon notice from time to time by such Secured Party to the

                                      -43-
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     Borrower, the Borrower shall within five days following receipt of such
     notice pay directly to such Secured Party additional amounts sufficient to
     compensate such Secured Party or such controlling Person for such reduction
     in rate of return. A statement of such Secured Party as to any such
     additional amount or amounts shall, in the absence of manifest error, be
     conclusive and binding on the Borrower. In determining such amount, such
     Secured Party may use any method of averaging and attribution that it (in
     its sole and absolute discretion) shall deem applicable. Notwithstanding
     anything to the contrary contained herein, (i) the Borrower will not be
     required to compensate any Lender for any such amounts incurred by such
     Lender more than one hundred eighty (180) days prior to such Lender's
     written request to the Borrower for such compensation and (ii) a Lender
     shall not be entitled to any compensation described in this Section unless,
     at the time it requests such compensation, it is the policy or general
     practice of such Lender to request compensation for comparable costs in
     similar circumstances under other comparable loan agreements.

SECTION 4.6. TAXES. The Borrower covenants and agrees as follows with respect to
     Taxes.

(a) Any and all payments by the Borrower under each Loan Document shall be made
     without setoff, counterclaim or other defense, and, except as otherwise
     provided in this Section, free and clear of, and without deduction or
     withholding for or on account of, any Taxes. In the event that any Taxes
     are imposed and required to be deducted or withheld from any payment
     required to be made by any Obligor to or on behalf of any Secured Party
     under any Loan Document, then:

(i) subject to CLAUSE (f), if such Taxes are Non-Excluded Taxes, the amount of
     such payment shall be increased as may be necessary so that such payment is
     made, after withholding or deduction for or on account of such Taxes, in an
     amount that is not less than the amount provided for in such Loan Document;
     and

(ii) the Borrower shall withhold the full amount of such Taxes from such payment
     (as increased pursuant to CLAUSE (a)(i)) and shall pay such amount to the
     Governmental Authority imposing such Taxes in accordance with applicable
     law.

(b) In addition, the Borrower shall pay all Other Taxes imposed to the relevant
     Governmental Authority imposing such Other Taxes in accordance with
     applicable law, except Other Taxes imposed on or with respect to any
     assignment or sale contemplated by SECTION 10.11.1 or SECTION 10.11.2.

(c) As promptly as practicable after the payment by the Borrower of any Taxes
     or Other Taxes, and in any event within 45 days of any such payment being
     due, the Borrower shall furnish to the Administrative Agent a copy of an
     official receipt (or a certified copy thereof) evidencing the payment of
     such Taxes or Other Taxes or a copy of the return reporting such payment or
     other evidence of such payment reasonably satisfactory to the
     Administrative Agent. The Administrative Agent shall make copies thereof
     available to any Lender upon request therefor.

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(d) Subject to CLAUSE (f), the Borrower shall indemnify each Secured Party for
     any Non-Excluded Taxes and Other Taxes (except Other Taxes not payable by
     the Borrower pursuant to CLAUSE (b)) levied, imposed or assessed by any
     Governmental Authority on (and whether or not paid directly by) such
     Secured Party whether or not such Non-Excluded Taxes or Other Taxes are
     correctly or legally asserted by the relevant Governmental Authority.
     Promptly upon having knowledge that any such Non-Excluded Taxes or Other
     Taxes have been levied, imposed or assessed, and promptly upon written
     notice thereof by any Secured Party, the Borrower shall pay such
     Non-Excluded Taxes or Other Taxes directly to the relevant Governmental
     Authority. In addition, the Borrower shall indemnify each Secured Party for
     any incremental Taxes that may become payable by such Secured Party as a
     result of any failure of the Borrower to pay any Taxes when due to the
     appropriate Governmental Authority or to deliver to the Administrative
     Agent, pursuant to CLAUSE (c), documentation evidencing the payment of
     Taxes or Other Taxes; PROVIDED, HOWEVER, the Borrower shall not be required
     to indemnify any Secured Party for any incremental Taxes resulting from a
     failure of the Borrower to pay any Taxes when due to the appropriate
     Governmental Authority if such failure by the Borrower is a result of the
     failure of a Secured Party to provide written notice to the Borrower of any
     Non-Excluded Taxes and Other Taxes levied, imposed or assessed on such
     Secured Party within 90 days of such levy, imposition or assessment;
     PROVIDED, FURTHER, the Borrower shall be required to indemnify such Secured
     Party for any incremental Taxes relating to any such failure of the
     Borrower occurring after such Secured Party provides such written notice.
     With respect to indemnification for Non-Excluded Taxes and Other Taxes
     actually paid by any Secured Party or the indemnification provided in the
     immediately preceding sentence, such indemnification shall be made within
     30 days after the date such Secured Party makes written demand therefor
     (showing in reasonable detail the basis and amount for such
     indemnification). The Borrower acknowledges that any payment made to any
     Secured Party or to any Governmental Authority in respect of the
     indemnification obligations of the Borrower provided in this clause shall
     constitute a payment in respect of which the provisions of CLAUSE (a) and
     this clause shall apply.

(e) Each Non-U.S. Secured Party, on or prior to the date on which such Non-U.S.
     Secured Party becomes a Secured Party hereunder (and from time to time
     thereafter upon the request of the Borrower or the Administrative Agent,
     but only for so long as such Non-U.S. Secured Party is legally able to do
     so), shall deliver to the Borrower and the Administrative Agent either (i)
     two duly completed copies of either (x) Internal Revenue Service Form
     W-8BEN claiming eligibility of such Non-U.S. Secured Party for benefits of
     an income tax treaty to which the United States is a party or (y) Internal
     Revenue Service Form W-8ECI, or in either case an applicable successor
     form; or (ii) in the case of a Non-U.S. Secured Party that is legally
     entitled to claim exemption from United States federal withholding tax
     under Section 871(h) or Section 881(c) of the Code with respect to payments
     of "portfolio interest", (x) a certificate to the effect that such Non-U.S.
     Secured Party is not (A) a "bank" within the meaning of Section
     881(c)(3)(A) of the Code, (B) a "10 percent shareholder" of the Borrower
     within the meaning of Section 881(c)(3)(B) of the Code, or (C) a controlled
     foreign corporation receiving interest from a related person within the
     meaning of Section 881(c)(3)(C) of the Code (referred to as an "EXEMPTION
     CERTIFICATE") and (y) two duly completed copies of Internal Revenue Service
     Form W-8BEN or applicable successor form. Each Non-U.S. Secured Party shall
     deliver such

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     forms promptly upon the obsolescence or invalidity of any form previously
     delivered by such Non-U.S. Secured Party. Each Non-U.S. Secured Party shall
     promptly notify the Borrower at any time it determines that it is no longer
     in a position to provide any previously delivered certificate to the
     Borrower (or any other form of certification adopted by the U.S. taxing
     authorities for such purpose).

(f) The Borrower shall not be obligated to pay any additional amounts to any
     Secured Party pursuant to CLAUSE (a)(i), or to indemnify any Secured Party
     pursuant to CLAUSE (d), in respect of any Non-Excluded Taxes or Other Taxes
     to the extent imposed as a result of (i) the failure of such Secured Party
     to deliver to the Borrower the form or forms and/or an Exemption
     Certificate, as applicable to such Secured Party, pursuant to CLAUSE (e),
     (ii) such form or forms and/or Exemption Certificate not establishing a
     complete exemption from U.S. federal withholding tax or the information or
     certifications made therein by the Secured Party being untrue or inaccurate
     on the date delivered in any material respect, or (iii) the Secured Party
     designating (x) a successor lending office at which it maintains its Loans
     or (y) an Assignee Lender which has the effect of causing such Secured
     Party or Assignee Lender to become obligated for tax payments in excess of
     those in effect immediately prior to such designation; PROVIDED, HOWEVER,
     that the Borrower shall be obligated to pay additional amounts to any such
     Secured Party pursuant to CLAUSE (a)(i), and to indemnify any such Secured
     Party pursuant to CLAUSE (d), in respect of United States federal
     withholding taxes if (i) any such failure to deliver a form or forms or an
     Exemption Certificate or the failure of such form or forms or Exemption
     Certificate to establish a complete exemption from U.S. federal withholding
     tax or inaccuracy or untruth contained therein resulted from a change in
     any applicable statute, treaty, regulation or other applicable law or any
     interpretation of any of the foregoing occurring after the Closing Date,
     which change rendered such Secured Party no longer legally entitled to
     deliver such form or forms or Exemption Certificate or otherwise ineligible
     for a complete exemption from U.S. federal withholding tax, or rendered the
     information or certifications made in such form or forms or Exemption
     Certificate untrue or inaccurate in a material respect, (ii) the
     redesignation of the Secured Party's lending office was made at the request
     of the Borrower or (iii) the obligation to pay any additional amounts to
     any such Secured Party pursuant to CLAUSE (a)(i) or to indemnify any such
     Secured Party pursuant to CLAUSE (d) is with respect to an Assignee Lender
     that becomes an Assignee Lender as a result of an assignment made at the
     request of the Borrower.

(g) In the event that any Secured Party receives a refund in respect of any
     Non-Excluded Taxes or Other Taxes as to which the Borrower had paid amounts
     pursuant to CLAUSE (a) or CLAUSE (b) or it has been indemnified by the
     Borrower pursuant to CLAUSE (d) and such Secured Party determines in its
     sole, good faith judgment that such refund is attributable to such
     Non-Excluded Taxes or Other Taxes, then such Secured Party shall promptly
     notify the Administrative Agent and the Borrower and shall within 30
     Business Days remit to the Borrower an amount as such Secured Party
     reasonably determines to be the proportion of the refunded amount as will
     leave it, after such remittance, in no better or worse position than it
     would have been if the Non-Excluded Taxes or Other Taxes had not been
     imposed and the corresponding payment not been made; PROVIDED, HOWEVER,
     that the Borrower, upon the written request of such Secured Party, agrees
     to repay the amount paid over to the Borrower to such Secured Party in the
     event such Secured Party is

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     required to repay such refund to a taxation authority. A Secured Party
     shall not be obligated to disclose information regarding its tax affairs or
     computations to the Borrower in connection with this CLAUSE (g).

SECTION 4.7. PAYMENTS, COMPUTATIONS, ETC. Unless otherwise expressly provided in
     a Loan Document, all payments by the Borrower pursuant to each Loan
     Document shall be made by the Borrower to the Administrative Agent for the
     PRO RATA account of the Secured Parties entitled to receive such payment.
     All payments shall be made without setoff, deduction or counterclaim not
     later than 11:00 a.m. on the date due in same day or immediately available
     funds to such account as the Administrative Agent shall specify from time
     to time by notice to the Borrower. Funds received after that time shall be
     deemed to have been received by the Administrative Agent on the next
     succeeding Business Day. The Administrative Agent shall promptly remit in
     same day funds to each Secured Party its share, if any, of such payments
     received by the Administrative Agent for the account of such Secured Party.
     All interest (including interest on LIBO Rate Loans) and fees shall be
     computed on the basis of the actual number of days (including the first day
     but excluding the last day) occurring during the period for which such
     interest or fee is payable over a year comprised of 360 days (or, in the
     case of interest on a Base Rate Loan (calculated at other than the Federal
     Funds Rate), 365 days or, if appropriate, 366 days). Payments due on other
     than a Business Day shall (except as otherwise required by CLAUSE (b) of
     the definition of "Interest Period") be made on the next succeeding
     Business Day and such extension of time shall be included in computing
     interest and fees in connection with that payment.

SECTION 4.8. SHARING OF PAYMENTS. If any Secured Party shall obtain any payment
     or other recovery (whether voluntary, involuntary, by application of setoff
     or otherwise) on account of any Credit Extension or Reimbursement
     Obligation (other than pursuant to the terms of SECTIONS 4.3, 4.4, 4.5 or
     4.6) in excess of its PRO RATA share of payments obtained by all Secured
     Parties, such Secured Party shall purchase from the other Secured Parties
     such participations in Credit Extensions made by them as shall be necessary
     to cause such purchasing Secured Party to share the excess payment or other
     recovery ratably (to the extent such other Secured Parties were entitled to
     receive a portion of such payment or recovery) with each of them; PROVIDED,
     HOWEVER, that if all or any portion of the excess payment or other recovery
     is thereafter recovered from such purchasing Secured Party, the purchase
     shall be rescinded and each Secured Party which has sold a participation to
     the purchasing Secured Party shall repay to the purchasing Secured Party
     the purchase price to the ratable extent of such recovery together with an
     amount equal to such selling Secured Party's ratable share (according to
     the proportion of (a) the amount of such selling Secured Party's required
     repayment to the purchasing Secured Party TO (b) total amount so recovered
     from the purchasing Secured Party) of any interest or other amount paid or
     payable by the purchasing Secured Party in respect of the total amount so
     recovered. The Borrower agrees that any Secured Party purchasing a
     participation from another Secured Party pursuant to this Section may, to
     the fullest extent permitted by law, exercise all its rights of payment
     (including pursuant to SECTION 4.9) with respect to such participation as
     fully as if such Secured Party were the direct creditor of the Borrower in
     the amount of such participation. If under any applicable bankruptcy,
     insolvency or other similar law any Secured Party receives a secured claim
     in lieu of a setoff to which this

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     Section applies, such Secured Party shall, to the extent practicable,
     exercise its rights in respect of such secured claim in a manner consistent
     with the rights of the Secured Parties entitled under this Section to share
     in the benefits of any recovery on such secured claim.

SECTION 4.9. SETOFF. Each Secured Party shall, upon the occurrence and during
     the continuance of any Default described in CLAUSES (a) through (d) of
     SECTION 8.1.9 or, with the consent of the Required Lenders, upon the
     occurrence and during the continuance of any other Event of Default, have
     the right to appropriate and apply to the payment of the Obligations owing
     to it (whether or not then due), and (as security for such Obligations) the
     Borrower hereby grants to each Secured Party a continuing security interest
     in, any and all balances, credits, deposits, accounts or moneys of the
     Borrower then or thereafter maintained with such Secured Party; PROVIDED,
     HOWEVER, that any such appropriation and application shall be subject to
     the provisions of SECTION 4.8. Each Secured Party agrees promptly to notify
     the Borrower and the Administrative Agent after any such setoff and
     application made by such Secured Party; PROVIDED, HOWEVER, that the failure
     to give such notice shall not affect the validity of such setoff and
     application. The rights of each Secured Party under this Section are in
     addition to other rights and remedies (including other rights of setoff
     under applicable law or otherwise) which such Secured Party may have.

                                    ARTICLE V
                         CONDITIONS TO CREDIT EXTENSIONS

SECTION 5.1. INITIAL CREDIT EXTENSION. The obligations of the Lenders and, if
     applicable, the Issuers to fund the initial Credit Extension shall be
     subject to the prior or concurrent satisfaction of each of the conditions
     precedent set forth in this Article.

SECTION 5.1.1. RESOLUTIONS, ETC. The Administrative Agent shall have received
     from each Obligor, as applicable, (i) a copy of a good standing
     certificate, dated a date reasonably close to the Closing Date, for each
     such Person and (ii) a certificate, dated the Closing Date with
     counterparts for each Lender, duly executed and delivered by such Person's
     Secretary or Assistant Secretary, managing member or general partner, as
     applicable, as to

(a) resolutions of each such Person's Board of Directors (or other managing
     body, in the case of other than a corporation) then in full force and
     effect authorizing the execution, delivery and performance of each Loan
     Document to be executed by such Person and the transactions contemplated
     hereby and thereby;

(b) the incumbency and signatures of those of its officers, managing member or
     general partner, as applicable, authorized to act with respect to each Loan
     Document to be executed by such Person; and

(c) the full force and validity of each Organic Document of such Person and
     copies thereof;

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     upon which certificates each Secured Party may conclusively rely until it
     shall have received a further certificate of the Secretary, Assistant
     Secretary, managing member or general partner, as applicable, of any such
     Person canceling or amending the prior certificate of such Person.

SECTION 5.1.2. CLOSING DATE CERTIFICATE. The Administrative Agent shall have
     received, with counterparts for each Lender, the Borrower Closing Date
     Certificate, dated the Closing Date and duly executed and delivered by an
     Authorized Officer of the Borrower, in which certificate the Borrower shall
     agree and acknowledge that the statements made therein shall be deemed to
     be true and correct representations and warranties of the Borrower as of
     such date, and, at the time each such certificate is delivered, such
     statements shall in fact be true and correct. All documents and agreements
     required to be appended to the Borrower Closing Date Certificate shall be
     in form and substance satisfactory to the Administrative Agent.

SECTION 5.1.3. ISSUANCE OF SENIOR UNSECURED NOTES. The Administrative Agent
     shall have received evidence satisfactory to it that the Borrower shall
     have received the proceeds from the issuance of the Senior Unsecured Notes
     in an original principal amount of $177,000,000 pursuant to the Senior
     Unsecured Note Documents, which shall be in all respects in form and
     substance satisfactory to the Administrative Agent.

SECTION 5.1.4. PAYMENT OF OUTSTANDING INDEBTEDNESS, ETC. All Indebtedness
     identified in ITEM 7.2.2(h) of the Disclosure Schedule (including all
     Indebtedness under the Existing Credit Agreement), together with all
     interest, all prepayment premiums and other amounts due and payable with
     respect thereto, shall have been paid in full from the proceeds of the
     issuance of the Senior Unsecured Notes and the initial Credit Extension and
     the commitments in respect of such Indebtedness shall have been terminated,
     and all Liens securing payment of any such Indebtedness have been released
     and the Administrative Agent shall have received all Uniform Commercial
     Code Form UCC-3 termination statements or other instruments as may be
     suitable or appropriate in connection therewith.

SECTION 5.1.5. CLOSING FEES, EXPENSES, ETC. The Administrative Agent shall have
     received for its own account, or for the account of each Lender, as the
     case may be, all fees, costs and expenses due and payable pursuant to
     SECTIONS 3.3 and, if then invoiced, 10.3.

SECTION 5.1.6. FINANCIAL INFORMATION, ETC. The Administrative Agent shall have
     received, with counterparts for each Lender,

(a) audited consolidated financial statements of the Borrower and its
     Subsidiaries as at August 25, 2001;

(b) a PRO FORMA consolidated balance sheet of the Borrower and its
     Subsidiaries, as of the accounting month end closest to the Closing Date
     certified by the chief financial or accounting Authorized Officer of the
     Borrower, giving effect to the consummation of the transactions
     contemplated by this Agreement, which shall be satisfactory to the
     Administrative Agent; and

(c) a Borrowing Base Certificate, dated as of the date of the initial Credit
     Extension and calculated as of December 29, 2001, duly executed (and with
     all schedules thereto duly

                                      -49-
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     completed) and delivered by the chief financial or accounting Authorized
     Officer of the Borrower.

SECTION 5.1.7. COMPLIANCE CERTIFICATE. The Administrative Agent shall have
     received, with counterparts for each Lender, an initial Compliance
     Certificate on a PRO FORMA basis as if the initial Credit Extension had
     been made as of November 24, 2001 and as to such items therein as the
     Administrative Agent reasonably requests, dated the date of the initial
     Credit Extension, duly executed (and with all schedules thereto duly
     completed) and delivered by the chief financial or accounting Authorized
     Officer of the Borrower.

SECTION 5.1.8. OPINIONS OF COUNSEL. The Administrative Agent shall have received
     opinions, dated the Closing Date and addressed to the Administrative Agent
     and all Lenders, from

(a) Schulte Roth & Zabel LLP, New York counsel to the Obligors, in form and
     substance satisfactory to the Administrative Agent (which opinion shall
     include, among others, an unqualified opinion to the effect that the
     Obligations of CBI arising in connection with the Subsidiary Guaranty will
     be "Designated Senior Indebtedness"); and

(b) local counsel to the Obligors in the following jurisdictions, in form and
     substance, and from counsel, satisfactory to the Administrative Agent:

(i) Illinois; and

(ii) Texas.

SECTION 5.1.9. FILING AGENT, ETC. All Uniform Commercial Code financing
     statements or other similar financing statements and Uniform Commercial
     Code (Form UCC-3) termination statements required pursuant to the Loan
     Documents (collectively, the "FILING STATEMENTS") shall have been delivered
     to CT Corporation System or another similar filing service company
     acceptable to the Administrative Agent (the "FILING AGENT"). The Filing
     Agent shall have acknowledged in a writing satisfactory to the
     Administrative Agent and its counsel (i) the Filing Agent's receipt of all
     Filing Statements, (ii) that the Filing Statements have either been
     submitted for filing in the appropriate filing offices or will be submitted
     for filing in the appropriate offices within ten days following the Closing
     Date and (iii) that the Filing Agent will notify the Administrative Agent
     and its counsel of the results of such submissions within 30 days following
     the Closing Date.

SECTION 5.1.10. SUBSIDIARY GUARANTY. The Administrative Agent shall have
     received, with counterparts for each Lender, the Subsidiary Guaranty, dated
     as of the date hereof, duly executed and delivered by an Authorized Officer
     of each U.S. Subsidiary.

SECTION 5.1.11. SOLVENCY, ETC. The Administrative Agent shall have received,
     with counterparts for each Lender, a solvency certificate duly executed and
     delivered by the chief financial or accounting Authorized Officer of the
     Borrower, dated as of the Closing Date, in form and substance satisfactory
     to the Administrative Agent.

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SECTION 5.1.12. PLEDGE AND SECURITY AGREEMENTS. The Administrative Agent shall
     have received, with counterparts for each Lender,

(a) the Borrower Pledge and Security Agreement and the Subsidiary Pledge and
       Security Agreement, in each case dated as of the date hereof, duly
       executed and delivered by an Authorized Officer of the Borrower and each
       U.S. Subsidiary of the Borrower, as applicable, together with

(i) certificates evidencing all of the issued and outstanding Capital
       Securities pledged pursuant to the applicable Pledge and Security
       Agreement, which certificates in each case shall be accompanied by
       undated instruments of transfer duly executed in blank, or, if any
       Capital Securities are uncertificated Capital Securities, confirmation
       and evidence satisfactory to the Administrative Agent that the security
       interest therein has been transferred to and perfected by the
       Administrative Agent for the benefit of the Secured Parties in accordance
       with Articles 8 and 9 of the UCC and all laws otherwise applicable to the
       perfection of the pledge of such Capital Securities;

(ii) all Pledged Notes (as defined in the applicable Pledge and Security
       Agreement), if any, evidencing Indebtedness payable to the Borrower or
       any such Subsidiary duly endorsed to the order of the Administrative
       Agent, together with Filing Statements (or similar instruments) in
       respect of such Pledged Notes to be filed in such jurisdictions as the
       Administrative Agent may reasonably request;

(iii) a valid first priority perfected security interest, pursuant to the
       Account Control Agreement, in all CBI Senior Subordinated Notes owing to
       Taylor Holding Co;

(iv) executed copies of Filing Statements naming the Borrower and each U.S.
       Subsidiary as a debtor and the Administrative Agent as the secured party,
       or other similar instruments or documents to be filed under the UCC of
       all jurisdictions as may be necessary or, in the opinion of the
       Administrative Agent, desirable to perfect the security interests of the
       Administrative Agent pursuant to each such Pledge and Security Agreement;

(v)  executed copies of proper UCC Form UCC-3 termination statements, if any,
       necessary to release all Liens and other rights of any Person (i) in any
       collateral described in any security agreement previously granted by any
       Person, and (ii) securing any of the Indebtedness identified in ITEM
       7.2.2(H) of the Disclosure Schedule, together with such other UCC Form
       UCC-3 termination statements as the Administrative Agent may reasonably
       request from such Obligors; and

(vi) certified copies of UCC Requests for Information or Copies (Form UCC-11),
       or a similar search report certified by a party acceptable to the
       Administrative Agent, dated a date reasonably near to the Closing Date,
       listing all effective financing statements which name the Borrower or any
       U.S. Subsidiary (under its present name and any previous names) as the
       debtor, together with copies of such financing statements (none of which
       shall cover any collateral described in any Loan Document); and

(b)  the Administrative Agent and its counsel shall be satisfied that (i) the
     Lien granted to the Administrative Agent, for the benefit of the Secured
     Parties in the collateral described

                                      -51-
<Page>

     above is a first priority (or local equivalent thereof) security interest;
     and (ii) no Lien exists on any of the collateral described above other than
     the Lien created in favor of the Administrative Agent, for the benefit of
     the Secured Parties, pursuant to a Loan Document.

SECTION 5.1.13. PATENT SECURITY AGREEMENT, COPYRIGHT SECURITY AGREEMENT AND
     TRADEMARK SECURITY AGREEMENT. The Administrative Agent shall have received
     a Patent Security Agreement, a Copyright Security Agreement and a Trademark
     Security Agreement, as applicable, each dated as of the date hereof, duly
     executed and delivered by each Obligor that has delivered a Security
     Agreement.

SECTION 5.1.14. INSURANCE. The Administrative Agent shall have received, with
     copies for each Lender, certified copies of the insurance policies (or
     binders in respect thereof), from one or more insurance companies
     satisfactory to the Administrative Agent, evidencing coverage required to
     be maintained pursuant to each Loan Document.

SECTION 5.1.15. MORTGAGES. The Administrative Agent shall have received
     counterparts of each Mortgage, dated as of the date hereof, duly executed
     by the applicable Obligor, together with

(a) evidence of the completion (or satisfactory arrangements for the
     completion) of all recordings and filings of each Mortgage as may be
     necessary or, in the opinion of the Administrative Agent, desirable to
     create a valid, perfected first priority Lien against the properties
     purported to be covered thereby; and

(b) such other approvals, opinions, or documents as the Administrative Agent
     may request in form and substance satisfactory to the Administrative Agent
     including consents and estoppel agreements from landlords, in form and
     substance satisfactory to the Administrative Agent and the title insurer,
     and a real estate appraisal for each such property prepared in accordance
     with the requirements of the Financial Institutions Reform Recovery and
     Enforcement Act of 1989 and the regulations promulgated thereunder.

SECTION 5.1.16. INTERCREDITOR AGREEMENT. The Administrative Agent shall have
     received, with counterparts for each Lender, the Intercreditor Agreement,
     dated as of the date hereof, duly executed and delivered by the
     Administrative Agent and Scotia Capital, and acknowledged by the Borrower.

SECTION 5.1.17. DELIVERY OF NOTES. The Administrative Agent shall have received,
     for the account of each Lender that has requested a Note, such Lender's
     Note duly executed and delivered by an Authorized Officer of the Borrower.

SECTION 5.1.18. REVOLVING LOAN COMMITMENT AMOUNT AVAILABILITY. The unused
     portion of the Revolving Loan Commitment Amount on the Closing Date
     (following the initial Credit Extension) shall equal or exceed $22,500,000.

SECTION 5.1.19. CBI INDENTURE ACKNOWLEDGMENT. The Administrative Agent shall
     have received, with copies for each Lender, a letter, in form and substance
     satisfactory to the

                                      -52-
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     Administrative Agent, from CBI to the trustee under the CBI Indenture,
     stating that under the terms of the CBI Indenture (i) the indebtedness
     arising under this Agreement and the Subsidiary Guaranty collectively will
     be deemed "Designated Senior Indebtedness"; and (ii) the Administrative
     Agent shall be the "Senior Representative" for "Designated Senior
     Indebtedness" (each such term as defined in the CBI Indenture).

SECTION 5.2. ALL CREDIT EXTENSIONS. The obligation of each Lender and each
     Issuer to make any Credit Extension shall be subject to and the
     satisfaction of each of the conditions precedent set forth below.

SECTION 5.2.1. COMPLIANCE WITH WARRANTIES, NO DEFAULT, ETC. Both before and
     after giving effect to any Credit Extension and the application of the
     proceeds thereof (but, if any Default of the nature referred to in SECTION
     8.1.5 shall have occurred with respect to any other Indebtedness, without
     giving effect to the application, directly or indirectly, of the proceeds
     thereof) the following statements shall be true and correct:

(a) the representations and warranties set forth in each Loan Document shall,
     in each case, be true and correct with the same effect as if then made
     (unless stated to relate solely to an earlier date, in which case such
     representations and warranties shall be true and correct in all material
     respects as of such earlier date);

(b) the sum of (i) the aggregate outstanding principal amount of all Revolving
     Loans and Swing Line Loans, plus (ii) the aggregate amount of all Letter of
     Credit Outstandings, does not exceed the lesser of (x) the then existing
     Revolving Loan Commitment Amount and (y) the then applicable Borrowing Base
     Amount;

(c) the Borrower and its Subsidiaries shall not hold cash and Cash Equivalent
     Investments in an aggregate amount in excess of $10,000,000; and

(d) no Default shall have then occurred and be continuing.

SECTION 5.2.2. CREDIT EXTENSION REQUEST, ETC. Subject to SECTION 2.3.2, the
     Administrative Agent shall have received a Borrowing Request if Loans are
     being requested, or an Issuance Request if a Letter of Credit is being
     requested or extended. Each of the delivery of a Borrowing Request or
     Issuance Request and the acceptance by the Borrower of the proceeds of such
     Credit Extension shall constitute a representation and warranty by the
     Borrower that on the date of such Credit Extension (both immediately before
     and after giving effect to such Credit Extension and the application of the
     proceeds thereof) the statements made in SECTION 5.2.1 are true and correct
     in all material respects.

SECTION 5.2.3. SATISFACTORY LEGAL FORM. All documents executed or submitted
     pursuant hereto by or on behalf of any Obligor shall be reasonably
     satisfactory in form and substance to the Administrative Agent and its
     counsel, and the Administrative Agent and its counsel shall have received
     all information, approvals, opinions, documents or instruments as the
     Administrative Agent or its counsel may reasonably request.

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                                   ARTICLE VI
                         REPRESENTATIONS AND WARRANTIES

     In order to induce the Secured Parties to enter into this Agreement and to
make Credit Extensions hereunder, the Borrower represents and warrants to each
Secured Party as set forth in this Article.

SECTION 6.1. ORGANIZATION, POWERS, CAPITALIZATION AND GOOD STANDING.

(a) Organization and Powers. Each of the Obligors is a limited partnership or a
       corporation, as applicable, duly formed or incorporated, as applicable,
       validly existing and in good standing under the laws of its jurisdiction
       of formation or incorporation as applicable (which jurisdiction for each
       Obligor in existence as of the Closing Date is set forth on ITEM 6.1(a)
       of the Disclosure Schedule). Each of the Obligors has all requisite
       partnership or corporate power and authority to own and operate its
       properties, to carry on its business as now conducted and proposed to be
       conducted, to enter into and perform its obligations under each Related
       Transactions Document to which it is a party and to carry out the Related
       Transactions.

(b) Capitalization. As of the Closing Date the authorized equity of each of the
       Obligors is as set forth on ITEM 6.1(b) of the Disclosure Schedule. As of
       the Closing Date, all issued and outstanding Capital Securities of each
       of the Obligors are duly authorized and validly issued, fully paid,
       nonassessable, free and clear of all Liens other than those in favor of
       the Administrative Agent, for the benefit of Secured Parties, and such
       Capital Securities were issued in compliance with all applicable state
       and federal laws concerning the issuance of securities. As of the Closing
       Date the Capital Securities of each of the Obligors are owned by the
       Persons and in the amounts set forth in ITEM 6.1(b) of the Disclosure
       Schedule. As of the Closing Date no Capital Securities of any Obligor,
       other than those described above, are issued and outstanding. As of the
       Closing Date there are no preemptive or other outstanding rights,
       options, warrants, conversion rights or similar agreements or
       understandings for the purchase or acquisition from any Obligor, of any
       Capital Securities of any such Obligor.

(c) Binding Obligation. This Agreement is, and the other Related Transactions
       Documents heretofore executed and delivered or when executed and
       delivered are and will be, the legally valid and binding obligations of
       the applicable Obligors thereto, each enforceable against each of such
       Obligor, as applicable, in accordance with their respective terms, except
       (i) as enforceability is limited by bankruptcy, insolvency,
       reorganization, moratorium or other laws relating to or affecting
       generally the enforcement of creditors' rights and except to the extent
       that availability of the remedy of specific performance or injunctive
       relief and other equitable remedies are subject to the discretion of the
       court before which any proceeding therefor may be brought, and (ii) that
       certain provisions of the Security Documents may be unenforceable in
       whole or in part, but the inclusion of such provisions does not affect
       the validity of the Security Documents, taken as a whole, and the
       Security Documents, taken as a whole contain adequate provisions for
       realization of the principal benefits intended to be provided by the
       Security Documents subject to

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       clause (i) above and to the economic consequences of any delay which may
       result from applicable law, rules or judicial decisions.

(d) Qualification. Each of the Obligors is qualified and in good standing
       wherever necessary to carry on its business and operations, except in
       jurisdictions in which the failure to be qualified and in good standing
       could not reasonably be expected to have a Material Adverse Effect. All
       jurisdictions in which each Obligor is qualified to do business as of the
       Closing Date are set forth on ITEM 6.1(d) of the Disclosure Schedule.

SECTION 6.2. DUE AUTHORIZATION, NON-CONTRAVENTION, ETC. The execution, delivery
       and performance by each Obligor of each Loan Document executed or to be
       executed by it and the execution, delivery and performance by the
       Borrower or (if applicable) any Obligor of the agreements executed and
       delivered by it in connection herewith are in each case within such
       Person's powers, have been duly authorized by all necessary action, and
       do not

(a) contravene any (i) Obligor's Organic Documents, (ii) or result in a default
       under any contractual restriction binding on or affecting any Obligor,
       (iii) court decree or order binding on or affecting any Obligor or (iv)
       law or governmental regulation binding on or affecting any Obligor; or

(b) result in, or require the creation or imposition of, any Lien on any
       Obligor's properties (except as permitted by this Agreement).

SECTION 6.3. GOVERNMENT APPROVAL, REGULATION, ETC. No authorization or approval
       or other action by, and no notice to or filing with, any Governmental
       Authority or other Person (other than those that have been, or on the
       Effective Date will be, duly obtained or made and which are, or on the
       Effective Date will be, in full force and effect) is required for the due
       execution, delivery or performance by any Obligor of any Loan Document to
       which it is a party, or for the continuing operations of the Borrower and
       the Subsidiary Guarantors. Neither the Borrower nor any of its
       Subsidiaries is an "investment company" within the meaning of the
       Investment Company Act of 1940, as amended, or a "holding company", or a
       "subsidiary company" of a "holding company", or an "affiliate" of a
       "holding company" or of a "subsidiary company" of a "holding company",
       within the meaning of the Public Utility Holding Company Act of 1935, as
       amended.

SECTION 6.4. INTELLECTUAL PROPERTY. Except as set forth on ITEM 6.4(a) of the
       Disclosure Schedule, the Borrower and each of its Subsidiaries owns, is
       licensed to use or otherwise has the right to use, all patents,
       trademarks, trade names, copyrights, know-how and processes necessary for
       the conduct of its business substantially as currently conducted and that
       are material to the financial condition or operations of the Borrower and
       its Subsidiaries taken as a whole (collectively called "INTELLECTUAL
       PROPERTY"). All such Intellectual Property that is federally registered
       and owned by the Borrower or its Subsidiaries, as well as material
       trademarks, trade names and copyrights, necessary for the conduct of the
       business of any such Person and owned by any such Person, is identified
       on ITEM 6.4(b) of the Disclosure Schedule (as updated from time to time
       by delivery by the Borrower or any of its Subsidiaries of a revised ITEM
       6.4(b) of the

                                      -55-
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       Disclosure Schedule) and all such federally registered property has been
       duly and properly registered, filed or issued in the appropriate office
       and jurisdictions for such registrations, filings or issuances. Except as
       disclosed in ITEM 6.4(c) of the Disclosure Schedule, since the Closing
       Date, and to the Borrower's and its Subsidiaries' knowledge prior to the
       Closing Date, the use of such Intellectual Property by the Borrower and
       its Subsidiaries does not and has not been alleged in writing by any
       Person to infringe on the rights of any Person, except to the extent any
       such infringement or allegations of infringement could not reasonably be
       expected to have a Material Adverse Effect.

SECTION 6.5. FINANCIAL STATEMENTS AND PROJECTIONS. All financial statements
       concerning the Borrower and its Subsidiaries which have been or will
       hereafter be furnished to the Administrative Agent pursuant to this
       Agreement, including the consolidated balance sheets of each of the
       Borrower and its Subsidiaries, in each case for the Fiscal Year of such
       Persons ended August 25, 2001, and the related consolidated statements of
       income, stockholders' equity and cash flow for such Fiscal Year, each
       audited by Arthur Andersen LLP, have been or will be prepared in
       accordance with GAAP and present fairly, in all material respects, the
       financial condition of the Persons covered thereby as at the dates
       thereof and the results of their operations for the periods then ended,
       subject to, in the case of unaudited financial statements, the absence of
       year-end adjustments. The Projections delivered on or prior to the
       Closing Date and the Projections to be delivered pursuant to CLAUSE (i)
       of SECTION 7.1.1 have been and will be prepared in good faith and based
       upon reasonable assumptions at the time such Projections were or will be
       delivered, it being understood that such Projections do not and will not
       constitute a warranty as to the future performance of the Borrower or any
       of its Subsidiaries and that actual results may vary from such
       Projections.

SECTION 6.6. NO MATERIAL ADVERSE CHANGE. Since August 25, 2001, there have been
       no changes in the financial condition or results of operations of the
       Borrower and its Subsidiaries taken as a whole which could reasonably be
       expected to result in a Material Adverse Effect.

SECTION 6.7. LITIGATION: ADVERSE EFFECTS. Except as set forth on ITEM 6.7 of the
       Disclosure Schedule, there are no judgments outstanding against any
       Obligor or affecting any property of any Obligor, nor is there any
       action, charge, claim, demand, suit, proceeding, petition, governmental
       investigation or arbitration now pending or, to the best knowledge of the
       Borrower or any of its Subsidiaries after due inquiry, threatened against
       or affecting any Obligor or any property of any Obligor which could
       reasonably be expected to result in any Material Adverse Effect.

SECTION 6.8. SOLVENCY. Each of the Borrower and CBI, Taylor Holding Co., Taylor
       General Partner, Taylor and ECI: (a) owns and will own assets the fair
       saleable value of which are (i) greater than the total amount of
       liabilities (including Contingent Liabilities) of such Person and (ii)
       greater than the amount that will be required to pay the probable
       liabilities of such Person's then existing debts as they become absolute
       and matured considering all financing alternatives and potential asset
       sales reasonably available to such Person; (b) has capital that is not
       unreasonably small in relation to its business as presently conducted or
       after giving effect to any contemplated transaction; and (c) does

                                      -56-
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       not intend to incur and does not believe that it will incur debts beyond
       its ability to pay such debts as they become due.

SECTION 6.9. TAXES. The Borrower and each of its Subsidiaries has filed all tax
       returns and reports required by law to have been filed by it and has paid
       all Taxes thereby shown to be due and owing, except any such Taxes which
       are being diligently contested in good faith by appropriate proceedings
       and for which adequate reserves in accordance with GAAP shall have been
       set aside on its books.

SECTION 6.10. ENVIRONMENTAL WARRANTIES. Except as set forth in ITEM 6.10 of the
       Disclosure Schedule:

(a) all facilities and property (including underlying groundwater) owned,
       leased or operated by the Borrower or any of its Subsidiaries have been,
       and continue to be, owned, leased or operated by the Borrower and its
       Subsidiaries in material compliance with all Environmental Laws;

(b) there have been no past, and there are no pending or threatened (i) claims,
       complaints, notices or requests for information received by the Borrower
       or any of its Subsidiaries with respect to any alleged violation of any
       Environmental Law, or (ii) complaints, notices or inquiries to the
       Borrower or any of its Subsidiaries regarding potential liability under
       any Environmental Law, in either case which could reasonably be expected
       to have a Material Adverse Effect;

(c) there have been no Releases of Hazardous Materials at, on or under any
       property now or previously owned or leased by the Borrower or any of its
       Subsidiaries that have, or could reasonably be expected to have, a
       Material Adverse Effect;

(d) the Borrower and its Subsidiaries have been issued and are in material
       compliance with all permits, certificates, approvals and licenses
       required under Environmental Law;

(e) no property now or previously owned or leased by the Borrower or any of its
       Subsidiaries is listed or proposed for listing (with respect to owned
       property only) on the National Priorities List pursuant to CERCLA, on the
       CERCLIS or on any similar state list of sites requiring investigation or
       clean-up;

(f) there are no underground or aboveground storage tanks, active or abandoned,
       including petroleum underground or aboveground storage tanks, on or under
       any property now or previously owned or leased by the Borrower or any of
       its Subsidiaries that, singly or in the aggregate, have, or could
       reasonably be expected to have, a Material Adverse Effect;

(g) neither the Borrower nor any Subsidiary has directly transported or
       directly arranged for the transportation of any Hazardous Material to any
       location which is listed or proposed for listing on the National
       Priorities List pursuant to CERCLA, on the CERCLIS or on any similar
       state list or which is the subject of federal, state or local enforcement
       actions or other investigations which may lead to material claims against
       the Borrower or such Subsidiary for any remedial work, damage to natural
       resources or personal injury, including claims under CERCLA;

                                      -57-
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(h) there are no polychlorinated biphenyls or friable asbestos present at any
       property now or previously owned or leased by the Borrower or any
       Subsidiary that, singly or in the aggregate, have, or could reasonably be
       expected to have, a Material Adverse Effect; and

(i) no conditions exist at, on or under any property now or previously owned or
       leased by the Borrower which, with the passage of time, or the giving of
       notice or both, would give rise to material liability under any
       Environmental Law.

SECTION 6.11. DISCLOSURE. No representation or warranty of any Obligor contained
       in this Agreement, the financial statements (other than the Projections)
       referred to in CLAUSE (a) of SECTION 5.1.6, the other Loan Documents or
       any other document, certificate or written statement furnished to the
       Administrative Agent or any Lender by or on behalf of an Obligor for use
       in connection with the Loan Documents contains as of the date of such
       representation, warranty, document, certificate or written statement was
       so furnished any untrue statement of a material fact or omitted to state
       a material fact necessary in order to make the statements contained
       herein or therein not misleading, in each case in light of the
       circumstances in which the same were made.

SECTION 6.12. USE OF PROCEEDS: Margin Regulations. Neither the Borrower nor any
       of its Subsidiaries is engaged principally, or as one of its important
       activities, in the business of extending credit for the purpose of
       purchasing or carrying margin stock (within the meaning of the Regulation
       U or X of the Board of Governors of the Federal Reserve System) and no
       part of the proceeds of any Loan will be used to acquire any margin
       stock.

SECTION 6.13. CBI SENIOR SUBORDINATED NOTES. The consummation of the Related
       Transactions will not violate, conflict with or result in a breach of any
       provision of the CBI Indenture. No Indebtedness, other than the
       Obligations, has been designated as "Designated Senior Indebtedness"
       under the CBI Indenture and except for an amendment thereto on July 27,
       2000 the CBI Indenture has not been amended or otherwise modified. None
       of the Related Transactions, either individually or collectively,
       constitutes an "Asset Sale" or a "Change of Control" under the CBI
       Indenture. The Subsidiary Guaranty as it relates to CBI falls within the
       definition of the term "Bank Credit Facility" as set forth in the CBI
       Indenture and the Obligations owing under the Subsidiary Guaranty as it
       relates to CBI constitute "Designated Senior Indebtedness" as set forth
       in the CBI Indenture. Aside from that certain Guaranty issued by Taylor
       Holding Co. on or about March 19, 2001 to all of the holders of the CBI
       Senior Subordinated Notes, no additional consideration was given to
       Angelo, Gordon & Co., L.P. to induce it to enter into that certain
       agreement dated March 19, 2001 between Angelo, Gordon & Co., L.P. and
       CBI. The Borrower acknowledges that the Administrative Agent, each Lender
       and each Issuer is entering into this Agreement and is extending its
       Commitments in reliance upon the subordination provisions of the CBI
       Indenture.

SECTION 6.14. NO DEFAULT. The consummation of the Related Transactions by the
       Obligors does not and will not violate or conflict with any laws, rules,
       regulations or orders of any governmental authority or violate, conflict
       with, result in a breach of, or constitute a default (with due notice or
       lapse of time or both) under any Contractual Obligation or any

                                      -58-
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       Obligor except if such violations, conflicts, breaches or defaults have
       either been waived on or before the Closing Date or could not reasonably
       be expected to have, either individually or in the aggregate, a Material
       Adverse Effect.

SECTION 6.15. INVESTIGATIONS, AUDITS, ETC. Except as set forth on ITEM 6.15 of
       the Disclosure Schedule, as of the Closing Date neither Borrower nor any
       of its Subsidiaries, is the subject of any review or audit by the
       Internal Revenue Service or any governmental investigation concerning the
       violation or possible violation of any law that may reasonably be
       expected to have a Material Adverse Effect.

SECTION 6.16. EMPLOYEE MATTERS. Except as set forth on ITEM 6.16 of the
       Disclosure Schedule, as of the Closing Date (a) no Obligor nor any of
       their respective employees is subject to any collective bargaining
       agreement, (b) no petition for certification or union election is pending
       with respect to the employees of any Obligor and no union or collective
       bargaining unit has sought such certification or recognition with respect
       to the employees of any Obligor and (c) there are no strikes, slowdowns,
       work stoppages or controversies pending or, to the best knowledge of the
       Borrower or any of its Subsidiaries after due inquiry, threatened between
       any Obligor and its respective employees, other than employee grievances
       arising in the ordinary course of business which could not reasonably be
       expected to have a Material Adverse Effect. Except as set forth on ITEM
       6.16 of the Disclosure Schedule, as of the Closing Date neither the
       Borrower nor any of its Subsidiaries is party to an employment contract
       that provides for annual payments after the date hereof in excess of
       $150,000.

                                   ARTICLE VII
                                    COVENANTS

SECTION 7.1. AFFIRMATIVE COVENANTS. The Borrower agrees with each Lender, each
       Issuer and the Administrative Agent that until the Termination Date has
       occurred, the Borrower will, and will cause its Subsidiaries to, perform
       or cause to be performed the obligations set forth below.

SECTION 7.1.1. FINANCIAL STATEMENTS AND OTHER REPORTS. The Borrower will
       maintain, and cause each of its Subsidiaries to maintain, a system of
       accounting established and administered in accordance with sound business
       practices to permit preparation of financial statements in conformity
       with GAAP (it being understood that monthly financial statements are
       subject to normal year-end adjustments and are not required to have
       footnote disclosures). The Borrower will deliver each of the financial
       statements and other reports described below to the Administrative Agent
       (and each Lender in the case of the financial statements and other
       reports described in CLAUSES (a), (b), (c), (e), (g), (i), (j) and (k)).

(a) QUARTERLY FINANCIALS. As soon as available and in any event within 45 days
       after the end of each of the first three Fiscal Quarters, the Borrower
       will deliver unaudited consolidated and consolidating balance sheets and
       income statements of the Borrower and its Subsidiaries as of the end of
       such Fiscal Quarter and consolidated cash flow statements of the Borrower
       and its Subsidiaries for such Fiscal Quarter and for the period
       commencing

                                      -59-
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       at the end of the previous Fiscal Year and ending with the end of such
       Fiscal Quarter, and including (in each case) in comparative form the
       figures for the corresponding Fiscal Quarter in, and year to date portion
       of, the immediately preceding Fiscal Year and to the most recently
       delivered annual budget, certified as complete and correct by the chief
       financial or accounting Authorized Officer of the Borrower.

(b) YEAR-END FINANCIALS. As soon as available and in any event within ninety
       (90) days after the end of each Fiscal Year, the Borrower will deliver
       (i) the consolidated balance sheet of the Borrower and its Subsidiaries
       as at the end of such Fiscal Year, and the related consolidated
       statements of income, stockholders' equity and cash flow for such Fiscal
       Year, (ii) a schedule of the outstanding Indebtedness for borrowed money
       of the Borrower and its Subsidiaries describing in reasonable detail each
       such debt issue or loan outstanding and the principal amount and amount
       of accrued and unpaid interest with respect to each such debt issue or
       loan and (iii) a report with respect to the consolidated financial
       statements of the Borrower and its Subsidiaries from a firm of certified
       public accountants selected by the Borrower and reasonably acceptable to
       the Administrative Agent, which report shall be prepared in accordance
       with Statement of Auditing Standards No. 58 entitled "Reports on Audited
       Financial Statements" and such report shall be without (x) a "going
       concern" or like qualification or exception, (y) any qualification or
       exception as to the scope of such audit or (z) any qualification which
       relates to the treatment or classification of any item and which, as a
       condition to the removal of such qualification, would require an
       adjustment to such item, the effect of which would be to cause the
       Borrower to be in default of any of its obligations under SECTION 7.2.4
       or SECTION 7.2.7.

(c) COMPLIANCE CERTIFICATE. Together with each delivery of financial statements
       of the Borrower and its Subsidiaries pursuant to CLAUSES (a) and (b), the
       Borrower will deliver a fully and properly completed Compliance
       Certificate (in substantially the same form as EXHIBIT E) signed by the
       chief executive Authorized Officer, chief financial Authorized Officer,
       or treasurer of the Borrower.

(d) ACCOUNTANTS' REPORTS. Promptly upon receipt thereof, the Borrower will
       deliver copies of all significant reports submitted by the Borrower's
       firm of certified public accountants in connection with each annual,
       interim or special audit or review of any type of the financial
       statements or related internal control systems of the Borrower made by
       such accountants, including any comment letter submitted by such
       accountants to management in connection with their services.

(e) BORROWING BASE CERTIFICATE. As soon as available and in any event within
       ten (10) Business Days after the end of each month, and from time to time
       upon the request of the Administrative Agent after the occurrence and
       during the continuation of any Event of Default, the Borrower will
       deliver a Borrowing Base Certificate (in substantially the same form as
       EXHIBIT B-3) as at the last day of such period.

(f) MANAGEMENT REPORT. Together with each delivery of financial statements
       pursuant to CLAUSES (a) and (b), the Borrower will deliver a management
       report (i) describing the operations and financial condition of the
       Borrower and its Subsidiaries for the month then ended and

                                      -60-
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       the portion of the current Fiscal Year then elapsed (or for the Fiscal
       Year then ended in the case of year-end financials), (ii) setting forth
       in comparative form the corresponding figures for the corresponding
       periods of the previous Fiscal Year and the corresponding figures from
       the most recent Projections for the current Fiscal Year delivered
       pursuant to CLAUSE (i) and (iii) discussing the reasons for any
       significant variations.

(g) COLLATERAL VALUE REPORT. Upon the request of the Administrative Agent,
       which may be made not more than once each year prior to an Event of
       Default (and prior to an Event of Default, the Borrower shall not be
       liable for costs, fees and expenses incurred by the Administrative Agent
       and the Lenders in excess of $30,000 during any eighteen (18) month
       period in connection with any collateral value report required pursuant
       to this CLAUSE (g)) and at any time (but not more often than quarterly)
       while and so long as an Event of Default shall be continuing, the
       Borrower will obtain and deliver to the Administrative Agent a report of
       an independent collateral auditor satisfactory to the Administrative
       Agent (which may be, or be affiliated with, a Lender) with respect to the
       Eligible Accounts and Eligible Inventory components included in the
       Borrowing Base Amount, which report shall indicate whether or not the
       information set forth in the Borrowing Base Certificate most recently
       delivered is accurate and complete in all material respects based upon a
       review by such auditors of the Eligible Accounts (including verification
       with respect to the amount, aging, identity and credit of the respective
       account debtors and the billing practices of the Borrower) and Eligible
       Inventory (including verification as to the value, location and
       respective types).

(h) APPRAISALS. From time to time, if the Administrative Agent or any
       Lender determines that obtaining appraisals is necessary in order for the
       Administrative Agent or such Lender to comply with applicable laws or
       regulations, the Administrative Agent will, at the Borrower's expense,
       obtain appraisal reports in form and substance and from appraisers
       reasonably satisfactory to the Administrative Agent stating the then
       current fair market values of all or any portion of the real estate owned
       by the Borrower or any of its Subsidiaries.

(i) PROJECTIONS. As soon as available and in any event no later than 45 days
       after the last day of each Fiscal Year, the Borrower will deliver
       Projections of the Borrower and its Subsidiaries for the forthcoming
       Fiscal Year, month by month.

(j) SEC FILINGS AND PRESS RELEASES. Promptly upon their becoming available, the
       Borrower will deliver copies of (i) all financial statements, reports,
       notices and proxy statements sent or made available by the Borrower or
       any of its Subsidiaries to its security holders, (ii) all regular and
       periodic reports and all registration statements and prospectuses, if
       any, filed by the Borrower or any of its Subsidiaries with any securities
       exchange or with the SEC, or any material reports, statements and
       prospectuses, if any, filed with any other governmental or private
       regulatory authority and (iii) all material press releases.

(k) EVENTS OF DEFAULT, ETC. Promptly upon any officer of the Borrower obtaining
       actual knowledge of any of the following events or conditions, the
       Borrower shall deliver copies of all notices given or received by the
       Borrower with respect to any such event or condition and a certificate of
       the Borrower's chief executive Authorized Officer

                                      -61-
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       specifying the nature and period of existence of such event or condition
       and what action the Borrower has taken, is taking and proposes to take
       with respect thereto: (i) any condition or event that constitutes an
       Event of Default; (ii) any notice that any Person has given to the
       Borrower or any of its Subsidiaries or any other action taken, in each
       case with respect to a claimed Default or event or condition of the type
       referred to in SECTION 8.1.5; or (iii) any event or condition that could
       reasonably be expected to result in any Material Adverse Effect.

(l) LITIGATION. Promptly upon any officer of the Borrower obtaining actual
       knowledge of (i) the institution of any action, suit, proceeding,
       governmental investigation or arbitration against or affecting any
       Obligor or any property of any Obligor not previously disclosed by the
       Borrower to the Administrative Agent or (ii) any material order is
       entered in any action, suit, proceeding, governmental investigation or
       arbitration at any time pending against or affecting any Obligor or any
       property of any Obligor which, in each case, could reasonably be expected
       to have a Material Adverse Effect, the Borrower will promptly give notice
       thereof to the Administrative Agent and provide such other information as
       may be reasonably available to it (except to the extent such information
       is protected by attorney-client privilege) to enable the Administrative
       Agent and its counsel to evaluate such matter.

(m) NOTICE OF CORPORATE AND OTHER CHANGES. The Borrower shall provide prompt
       written notice of (i) any material change after the Closing Date in the
       authorized and issued Capital Securities of any Obligor or any of their
       respective Subsidiaries or any other material amendment to their Organic
       Documents, and (ii) any Subsidiary created or acquired by any Obligor
       after the Closing Date, such notice, in each case, to identify the
       applicable jurisdictions, capital structures or Subsidiaries, as
       applicable.

(n) OTHER INFORMATION. With reasonable promptness, the Borrower will deliver
       such other information and data with respect to any Obligor or any
       Subsidiary of any Obligor as from time to time may be reasonably
       requested by the Administrative Agent.

SECTION 7.1.2. COMPLIANCE WITH LAWS AND CONTRACTUAL OBLIGATIONS. The Borrower
       will (a) comply with and will cause each of its Subsidiaries to comply
       with (i) the requirements of all applicable laws, rules, regulations and
       orders of any governmental authority (including laws, rules, regulations
       and orders relating to taxes, employer and employee contributions,
       securities, employee retirement and welfare benefits, environmental
       protection matters and employee health and safety) as now in effect and
       which may be imposed in the future in all jurisdictions in which the
       Borrower or its Subsidiaries are now doing business or may hereafter be
       doing business and (ii) the obligations, covenants and conditions
       contained in all Contractual Obligations of the Borrower or such
       Subsidiary, as applicable, other than those laws, rules, regulations,
       orders and provisions of such Contractual Obligations the noncompliance
       with which could not be reasonably expected to have, either individually
       or in the aggregate, a Material Adverse Effect, and (b) maintain or
       obtain and will cause each of its Subsidiaries to maintain or obtain, all
       licenses, qualifications and permits now held or hereafter required to be
       held by the Borrower or any of its Subsidiaries, for which the loss,
       suspension, revocation or failure to obtain or renew, could reasonably be
       expected to have a Material Adverse Effect. This

                                      -62-
<Page>

       Section shall not preclude the Borrower or any Subsidiary from contesting
       any taxes or other payments, if they are being diligently contested in
       good faith in a manner which stays enforcement thereof and if appropriate
       expense provisions have been recorded in conformity with GAAP. The
       Borrower represents and warrants that as of the date hereof, it (i) is in
       compliance and each of its Subsidiaries is in compliance with the
       requirements of all applicable laws, rules, regulations and orders of any
       governmental authority other than those laws, rules, regulations, orders
       and provisions of such Contractual Obligations, the noncompliance with
       which could not be reasonably expected to have, either individually or in
       the aggregate, a Material Adverse Effect and (ii) maintains and each of
       its Subsidiaries maintains all licenses, qualifications and permits
       referred to above, except where a failure to do so could not be
       reasonably expected to have a Material Adverse Effect.

SECTION 7.1.3. MAINTENANCE OF PROPERTIES; INSURANCE. The Borrower will, and will
       cause its Subsidiaries to, maintain or cause to be maintained in good
       repair, working order and condition (ordinary wear and tear and casualty
       events excepted) all material properties used in the business of the
       Borrower and its Subsidiaries and will make or cause to be made all
       repairs, renewals and replacements thereof as in the reasonable judgment
       of the Borrower are necessary to carry on their business. The Borrower
       will, and will cause its Subsidiaries to, maintain or cause to be
       maintained, with financially sound and reputable insurers, public
       liability and property damage insurance with respect to its business and
       properties and the business and properties of its Subsidiaries against
       loss or damage of the kinds, and in the amounts, customarily carried or
       maintained by corporations of established reputation engaged in similar
       activities in similar geographic locations and will deliver evidence
       thereof to the Administrative Agent. The Borrower will, and will cause
       its Subsidiaries to, also maintain (i) business interruption insurance
       providing coverage for a period of at least six months and in an amount
       not less than (x) $6,000,000 for Taylor General Partner and Taylor, (y)
       $25,000,000 for CBI and (z) $2,000,000 for ECI and (ii) the environmental
       insurance in effect on the Closing Date and described on ITEM 7.1.3 of
       the Disclosure Schedule (the Administrative Agent and the Lenders
       acknowledge that such environmental insurance satisfies the requirements
       for environmental insurance set forth in this Section). The Borrower
       will, and will cause its Subsidiaries to, cause the Administrative Agent,
       pursuant to endorsements and/or assignments in form and substance
       reasonably satisfactory to the Administrative Agent, to be named (x) as
       lender's loss payee, with respect to all claims at any time in the
       aggregate in excess of $100,000 (which such loss payee provision shall
       name the Borrower and the applicable Subsidiary, and the Administrative
       Agent jointly as loss payees), in the case of property insurance, (y)
       additional insured in the case of all liability insurance and (z)
       assignee/loss payee, with respect to all claims at any time in the
       aggregate in excess of $100,000 (which such assignee/loss payee provision
       shall name the Borrower and the applicable Subsidiary, and the
       Administrative Agent jointly as assignees/loss payees), in the case of
       all business interruption insurance, in each case for the benefit of the
       Secured Parties. The Borrower represents and warrants that it and each of
       its Subsidiaries currently maintains all material properties as set forth
       above and maintains all insurance described above. In the event that the
       Borrower or a Subsidiary fails to provide the Administrative Agent with
       evidence of the insurance coverage required by this Agreement promptly
       after the Administrative Agent requests in writing

                                      -63-
<Page>

       such evidence, the Administrative Agent may purchase insurance at the
       Borrower's expense to protect the Administrative Agent's interests in the
       Collateral. This insurance may, but need not, protect the Borrower's
       interests. The coverage purchased by the Administrative Agent may not pay
       any claim made by the Borrower or any Subsidiary or any claim that is
       made against the Borrower or any Subsidiary in connection with the
       Collateral. The Borrower may later cancel any insurance purchased by the
       Administrative Agent, but only after providing the Administrative Agent
       with evidence that the Borrower has obtained insurance as required by
       this Agreement. If the Administrative Agent purchases insurance for the
       Collateral, the Borrower will be responsible for the costs of that
       insurance, including interest and other charges imposed by the
       Administrative Agent in connection with the placement of the insurance,
       until the effective date of the cancellation or expiration of the
       insurance. The costs of the insurance may be added to the Obligations.
       The costs of the insurance may be more than the cost of insurance the
       Borrower or its Subsidiaries are able to obtain on their own.

SECTION 7.1.4. INSPECTION; LENDER MEETING. The Borrower shall, and cause each
       U.S. Subsidiary to, permit any authorized representatives of the
       Administrative Agent to visit and inspect any of the properties of the
       Borrower or any of such Subsidiaries, including its and their financial
       and accounting records, and to make copies and take extracts therefrom,
       other than materials that are protected by attorney-client privilege and
       materials the Borrower or its Subsidiary may not disclose to the
       Administrative Agent or any Lender under confidentiality agreements and
       to discuss its and their affairs, finances and business with its and
       their officers and certified public accountants, at such reasonable times
       during normal business hours, as often as may be reasonably requested,
       upon reasonable prior notice and so long as such visit and inspection
       does not materially interfere with the business and the operations of the
       Borrower and its Subsidiaries taken as a whole; provided that prior to
       the occurrence and continuance of an Event of Default, the Borrower or
       such Subsidiary shall not be required to permit more than three (3) such
       visits and inspections during any year. Upon at least twenty-four (24)
       hours prior notice to the Borrower, representatives of each Lender will
       be permitted to accompany representatives of the Administrative Agent
       during each visit, inspection and discussion referred to in the
       immediately preceding sentence. Without in any way limiting the
       foregoing, the Borrower will, and cause each U.S. Subsidiary to,
       participate and will cause its key management personnel to participate in
       a meeting with the Administrative Agent and the Lenders at least once
       during each year, which meeting shall be held at such time and such place
       as may be reasonably requested by the Administrative Agent. At no time
       does this Agreement provide the Lenders or the Administrative Agent the
       authority to conduct or cause the Borrower to conduct any subsurface
       investigation, except to the extent required under Environmental Law or
       in fulfillment of an express requirement of a Governmental Authority.

SECTION 7.1.5. CORPORATE/LIMITED PARTNERSHIP EXISTENCE. Except as otherwise
       permitted by SECTION 7.2.10, the Borrower will, and will cause each of
       its Subsidiaries to, preserve and keep in full force and effect its
       corporate existence (or in the case of Taylor, its limited partnership
       existence) and all rights and corporate/limited partnership franchises
       material to its business.

                                      -64-
<Page>

SECTION 7.1.6. ENVIRONMENTAL LAW COVENANT. The Borrower will, and will cause
       each of its Subsidiaries to,

(a) use and operate all of its and their facilities and properties in material
       compliance with all Environmental Laws, keep all necessary permits,
       approvals, certificates and licenses required under Environmental Law and
       remain in material compliance therewith, and handle all Hazardous
       Materials in material compliance with all applicable Environmental Laws;
       and

(b) notify the Administrative Agent within fourteen (14) days and provide
       copies upon receipt of all written claims, complaints, notices or
       inquiries relating to the condition of its facilities and properties in
       respect of, or as to compliance with, Environmental Laws, and shall use
       its best efforts to resolve any non-compliance with Environmental Laws
       and keep its property free of any Lien imposed by any Environmental Law,
       except to the extent such non-compliance could not reasonably be expected
       to result in a Material Adverse Effect.

SECTION 7.1.7. USE OF PROCEEDS. The Borrower will apply the proceeds of the
       Credit Extensions as follows:

(a) to repay the Indebtedness identified in ITEM 7.2.2(h) of the Disclosure
       Schedule (including Indebtedness under the Existing Credit Agreement, the
       Existing Promissory Notes, and the Swap Amounts) and fees and expenses
       related to the Refinancing;

(b) for working capital and general corporate purposes of the Borrower and the
       Subsidiary Guarantors, including Permitted Acquisitions by such Persons;
       and

(c) for issuing Letters of Credit for the account of the Borrower and the
       Subsidiary Guarantors.

SECTION 7.1.8. FURTHER ASSURANCES.

(a) The Borrower shall, and shall cause each Obligor to, from time to time,
       execute such financing statements, documents, security agreements and
       reports as the Administrative Agent or the Required Lenders at any time
       may reasonably request to evidence, perfect or otherwise implement the
       guaranties and security for repayment of the Obligations contemplated by
       the Loan Documents.

(b) In the event that the Borrower or any Subsidiary thereof (other than the
       Mexican Subsidiary) acquires a fee interest in any real property after
       the Closing Date, the Borrower shall, and shall cause each such
       Subsidiary to, deliver to the Administrative Agent a fully executed
       mortgage or deed of trust over such real property in form and substance
       reasonably satisfactory to the Administrative Agent, together with such
       title insurance policies, surveys, appraisals, evidence of insurance,
       legal opinions, environmental assessments and other documents and
       certificates as shall be reasonably required by the Administrative Agent
       and are consistent with the requirements imposed with respect to real
       property interests of the Borrower and its Subsidiaries at the Closing
       Date. In the event that the Borrower or any Subsidiary thereof (other
       than the Mexican Subsidiary) acquires a leasehold interest in any real
       property after the Closing Date, at the request of the Administrative
       Agent and if and to the extent permitted and/or consented to by the

                                      -65-
<Page>

       landlord under the lease or sublease under which such interest is
       conveyed, the Borrower shall or shall cause each such Subsidiary to
       deliver to the Administrative Agent a fully executed leasehold mortgage
       or deed of trust over such leasehold estate in form and substance
       reasonably satisfactory to the Administrative Agent, together with any of
       those items, documents or certificates listed in the preceding sentence
       that the Administrative Agent may reasonably require with respect to any
       real property owned in fee by the Borrower or its Subsidiary, and which
       are consistent with the requirements imposed by the Administrative Agent
       with respect to real property interests of the Borrower and its
       Subsidiaries at the Closing Date.

(c) At the Administrative Agent's or the Required Lenders' request, the
       Borrower shall cause (x) each Subsidiary (other than the Mexican
       Subsidiary) promptly to guaranty the Obligations and to grant to the
       Administrative Agent, for the benefit of the Secured Parties, a Lien on
       substantially all of the real, personal and mixed property of such
       Subsidiary to secure the Obligations (except as otherwise expressly
       provided herein) and (y) the Capital Securities of each Subsidiary (other
       than the Mexican Subsidiary) of the Borrower promptly to be pledged to
       the Administrative Agent, for the ratable benefit of the Secured Parties,
       to secure the Obligations. The documentation for such guaranty, security
       or pledge shall be substantially similar to the Loan Documents executed
       concurrently herewith with such modifications as are reasonably requested
       by the Administrative Agent.

SECTION 7.1.9. LANDLORD ESTOPPEL LETTERS. The Borrower shall use its best
       efforts to have the lessors of the property located at each of 67 Great
       Valley Parkway, Malvern, Pennsylvania, and at 7101 Intermodal Drive,
       Louisville, Kentucky, execute and deliver to the Administrative Agent
       within 45 days following the Closing Date an estoppel letter (with
       respect to the leases for such property) in form and substance reasonably
       satisfactory to the Administrative Agent.

SECTION 7.1.10. TITLE INSURANCE. The Borrower shall deliver to the
       Administrative Agent within 30 days following the Closing Date,
       mortgagee's title insurance policies in favor of the Administrative Agent
       for the benefit of the Secured Parties in amounts and in form and
       substance and issued by insurers, satisfactory to the Administrative
       Agent, with respect to the property purported to be covered by each
       Mortgage, insuring that title to such property is marketable and that the
       interests created by each Mortgage constitute valid first Liens thereon
       free and clear of all defects and encumbrances other than as approved by
       the Administrative Agent, and such policies shall also include a current
       survey reading, and, if required by the Administrative Agent and if
       available, revolving credit endorsement, comprehensive endorsement,
       variable rate endorsement, access and utilities endorsements, mechanic's
       lien endorsement and such other endorsements as the Administrative Agent
       shall reasonably request and shall be accompanied by evidence of the
       payment in full of all premiums thereon.

SECTION 7.2. NEGATIVE COVENANTS. The Borrower covenants and agrees with each
       Lender, each Issuer and the Administrative Agent that until the
       Termination Date has occurred, the Borrower will, and will cause its
       Subsidiaries to, perform or cause to be performed the obligations set
       forth below.

                                      -66-
<Page>

SECTION 7.2.1. CONDUCT OF BUSINESS. The Borrower will not, nor will the Borrower
       permit any of its Subsidiaries to, directly or indirectly engage in any
       business other than the respective businesses of the type described on
       ITEM 7.2.1 of the Disclosure Schedule with respect to each such Person or
       are reasonably related thereto. Taylor Holding Co. will not engage in any
       type of business activity other than (i) the ownership of 1% of the
       Capital Securities of Taylor, (ii) the ownership of the CBI Subordinated
       Notes owned by it as of the Closing Date and (iii) the performance of its
       obligations under the Loan Documents to which it is a party, except as
       otherwise permitted hereunder.

SECTION 7.2.2. INDEBTEDNESS. The Borrower will not, nor will the Borrower permit
       any of its Subsidiaries directly or indirectly to, create, incur, assume,
       or otherwise become or remain directly or indirectly liable with respect
       to any Indebtedness except:

(a) the Obligations;

(b) unsecured Indebtedness of the Borrower evidenced by the Senior Unsecured
       Notes in a principal amount not to exceed $177,000,000, and unsecured
       guarantees of such Indebtedness delivered by Subsidiary Guarantors;

(c) Indebtedness of any Subsidiary (other than Taylor Holding Co.) owing to the
       Borrower or any other Subsidiary, which Indebtedness

(i) shall, if payable to the Borrower or a Subsidiary Guarantor (and not
       incurred under CLAUSE (g)), be evidenced by one or more promissory notes
       in form and substance satisfactory to the Administrative Agent, duly
       executed and delivered in pledge to the Administrative Agent pursuant to
       a Loan Document, and (unless otherwise agreed to by the Administrative
       Agent) shall not be forgiven or otherwise discharged for any
       consideration other than payment in full or in part in cash (PROVIDED,
       that only the amount repaid in part shall be discharged); and

(ii) if incurred by a Foreign Subsidiary owing to the Borrower or a Subsidiary
       Guarantor, shall not (when aggregated with (i) the amount of Investments
       made by the Borrower and the Subsidiary Guarantors in Foreign
       Subsidiaries under CLAUSE (r) of SECTION 7.2.5 and (ii) the amount of
       Dispositions made by the Borrower and the Subsidiary Guarantors to
       Foreign Subsidiaries pursuant to CLAUSE (m) of SECTION 7.2.11) exceed
       $5,000,000 at any time;

(d) unsecured Indebtedness (not evidenced by a note or other instrument) of the
       Borrower owing to a Subsidiary (other than Taylor Holding Co.), provided
       such Subsidiary has previously executed and delivered to the
       Administrative Agent the Interco Subordination Agreement;

(e) Indebtedness of the Borrower and its Subsidiaries (other than Taylor
       Holding Co.) secured by Liens permitted by CLAUSES (e) or (k) of SECTION
       7.2.3; PROVIDED, that the Indebtedness is incurred within 60 days
       following the acquisition of the property subject to such Lien and the
       aggregate amount of such Indebtedness shall not exceed $10,000,000 at any
       one time outstanding;

                                      -67-
<Page>

(f) Indebtedness of CBI evidenced by the CBI Senior Subordinated Notes;
       PROVIDED that not less than 51% of the aggregate outstanding principal
       amount of such CBI Senior Subordinated Notes shall be owing only to
       Taylor Holding Co. until such time, if any, that CBI retires, cancels or
       otherwise terminates the Senior Subordinated Notes owing to Taylor
       Holding Co.;

(g) intercompany Indebtedness, constituting accounts payable, owing by one
       Subsidiary to another Subsidiary, for services rendered in the ordinary
       course of business by one Subsidiary to another Subsidiary reflecting
       reimbursements for services which are rendered to such Subsidiary (the
       "SHARED SERVICES") with the allocable costs thereof being reimbursed to
       the Subsidiary which paid for such Shared Services;

(h) Indebtedness outstanding on the date hereof and listed on ITEM 7.2.2(H) of
       the Disclosure Schedule and refinancing of such Indebtedness in a
       principal amount not in excess of that which is outstanding on the
       Effective Date (as such amount has been reduced following the Effective
       Date);

(i) unsecured Indebtedness incurred to repurchase equity issued by the Borrower
       to employees, consultants, agents, officers and directors of the Borrower
       or its Subsidiaries, to the extent such repurchase is permitted by CLAUSE
       (a) of SECTION 7.2.6;

(j) unsecured Indebtedness (referred to as "SELLER NOTE INDEBTEDNESS") which is
       subordinated to the Obligations in a manner, and has terms and conditions
       (including as to its maturity), satisfactory to the Required Lenders and
       which is incurred in connection with the consummation of any Permitted
       Acquisition and which is owing to a seller of the Capital Securities or
       assets sold pursuant to such Permitted Acquisition;

(k) Contingent Liabilities incurred by any Person to the extent such Person is
       permitted to incur such Contingent Liabilities pursuant to SECTION 7.2.8;
       and

(l) additional Indebtedness (other than Indebtedness of Foreign Subsidiaries
       owing to the Borrower or Subsidiary Guarantors) of the Borrower and its
       Subsidiaries (other than Taylor Holding Co.) not contemplated by CLAUSES
       (a) through (k) above, provided that the aggregate principal amount of
       Indebtedness incurred and remaining outstanding pursuant to this clause
       shall not at any time exceed $10,000,000.

PROVIDED, HOWEVER, that no Indebtedness otherwise permitted by CLAUSES (e), (i)
or (L) shall be assumed, created or otherwise incurred if a Default has occurred
and is then continuing or would result therefrom.

SECTION 7.2.3. LIENS AND RELATED MATTERS. The Borrower will not, nor will the
       Borrower permit any of its Subsidiaries directly or indirectly to,
       create, incur, assume or permit to exist any Lien on or with respect to
       any property or asset of the Borrower or any of its Subsidiaries, whether
       now owned or hereafter acquired, or any income or profits therefrom,
       except Permitted Encumbrances. "PERMITTED ENCUMBRANCES" means the
       following:

                                      -68-
<Page>

(a) Liens for taxes, assessments or other governmental charges in respect of
       obligations not yet due and payable or which are being contested in good
       faith by appropriate proceedings and for which appropriate reserves have
       been established in accordance with GAAP;

(b) (i) statutory Liens of landlord, carriers, warehousemen, mechanics,
       materialmen and other similar liens imposed by law; and (ii) consensual
       Liens granted to carriers, warehousemen which at no time will store
       inventory of the Obligors having a value in excess of $2,500,000,
       mechanics and materialmen; which in all such cases (whether pursuant to
       CLAUSE (b)(i) or (b)(ii) above) are incurred in the ordinary course of
       business for sums not more than sixty (60) days delinquent or which are
       being diligently contested in good faith and by appropriate proceedings
       in a manner which stays enforcement of such Liens;

(c) Liens (other than any Lien imposed by ERISA) incurred or deposits made in
       the ordinary course of business in connection with workers' compensation,
       unemployment insurance and other types of social security, or to secure
       the performance of tenders, statutory obligations, surety, stay, customs
       and appeal bonds, bids, leases, government contracts, trade contracts,
       performance and return of money bonds and other similar obligations
       (exclusive of obligations for the payment of borrowed money);

(d) deposits, in an aggregate amount not to exceed $1,000,000 for the Borrower
       and its Subsidiaries, made in the ordinary course of business to secure
       liability to insurance carriers;

(e) Liens for purchase money obligations and capital leases; PROVIDED, that:
       (i) purchase of the asset subject to any such Lien is permitted under
       SECTION 7.2.7; (ii) the Indebtedness secured by any such Lien is
       permitted under SECTION 7.2.2; and (iii) any such Lien encumbers only the
       asset so purchased (and improvements, replacements, substitutions,
       accessions and additions thereto);

(f) any attachment or judgment Lien not constituting an Event of Default under
       SECTION 8.1.6;

(g) easements, rights of way, zoning restrictions, restrictions, covenants, and
       other similar charges or encumbrances not interfering in any material
       respect with the ordinary conduct of the business of the Borrower or any
       of its Subsidiaries;

(h) any interest or title of a lessor or sublessor under any lease or of a
       licensor or sublicensor under a license or sublicense;

(i) Liens in favor of the Administrative Agent, for the benefit of the
       Administrative Agent and the other Secured Parties;

(j) Liens existing on the date hereof and renewals and extensions thereof,
       which Liens are set forth on ITEM 7.2.3(j) of the Disclosure Schedule;

(k) Liens existing on any property or asset of any Person at the time of
       acquisition thereof or existing on any property or asset of any Person
       that becomes a Subsidiary after the date hereof in connection with the
       consummation of a Permitted Acquisition at the time such

                                      -69-
<Page>

       Person becomes a Subsidiary; PROVIDED, that (i) such Lien is not created
       in contemplation of or in connection with such acquisition or such Person
       becoming a Subsidiary, as the case may be, (ii) such Lien shall not apply
       to any other property or assets of the Borrower or any of its
       Subsidiaries (other than improvements, replacements, substitutions
       accessions and additions to the property or asset subject to such Lien),
       and (iii) such Lien in the Administrative Agent's determination, does not
       secure all or substantially all of, and is not a "blanket lien" on, the
       assets of such Person and in any event shall secure only those
       obligations that it secures on the date of acquisition or the date such
       Person becomes a Subsidiary and such obligations are permitted hereunder;

(l) Liens in replacement of Liens described in CLAUSES (e), (j) and (k);
       PROVIDED, that such replacement Liens do not extend to any assets not
       subject to the Lien being replaced;

(m) consignments of inventory by a Subsidiary entered into in the ordinary
       course of business consistent with past practices as in effect on the
       Closing Date;

(n) leases, subleases, licenses and sublicenses of property permitted by CLAUSE
       (b) of SECTION 7.2.11;

(o) ownership interests of Persons who consign Gold to CBI in the ordinary
       course of business; PROVIDED, that the interests of such Persons are
       limited to such consigned Gold;

(p) Liens in favor of Scotia Capital on the "Collateral", as such term is
       defined in the Gold Consignment Agreement and under the Security
       Documents;

(q) Liens in favor of Persons who refine Gold for CBI, in the ordinary course
       of business of CBI and consistent with past practices of CBI as in effect
       on the Closing Date, on Gold owned by CBI; and

(r) Liens and encumbrances on each parcel or property mortgaged in favor of the
       Administrative Agent (on behalf of the Secured Parties) as and to the
       extent permitted by the mortgage or deed of trust applicable thereto.

SECTION 7.2.4. FINANCIAL CONDITION AND OPERATIONS. The Borrower will not permit
       any of the events set forth below to occur.

(a) The Borrower will not permit the Secured Leverage Ratio at any time to be
       greater than 1:1.

(b) The Borrower will not permit the Fixed Charge Coverage Ratio as of the last
       day of any Fiscal Quarter occurring during any period set forth below to
       be less than the ratio set forth opposite such period:

<Table>
<Caption>
                                                                  Fixed Charge
                     Period                                      Coverage Ratio
                     ------                                      --------------
<S>                                                              <C>
Closing Date through (and including) 08/31/02                       1.10:1.00

09/01/02 through (and including) 08/30/03                           1.15:1.00
</Table>

                                      -70-
<Page>

<Table>
<Caption>
                                                                  Fixed Charge
                     Period                                      Coverage Ratio
                     ------                                      --------------
<S>                                                              <C>
08/31/03 and thereafter                                             1.20:1.00
</Table>

(c) The Borrower will not permit the Interest Coverage Ratio as of the last day
       6 of any Fiscal Quarter occurring during any period set forth below to be
       less than the ratio set forth opposite such period:

<Table>
<Caption>
                                                                     Interest
                     Period                                       Coverage Ratio
                     ------                                       --------------
<S>                                                               <C>
Closing Date through (and including) 08/31/02                        1.60:1.00

09/01/02 through (and including) 08/30/03                            1.65:1.00

08/31/03 and thereafter                                              1.75:1.00
</Table>

SECTION 7.2.5. INVESTMENTS; JOINT VENTURES. The Borrower will not, nor will the
       Borrower permit any of its Subsidiaries directly or indirectly to, make
       or own any Investment in any Person except:

               (a) the Borrower and its Subsidiaries may make and own
       Investments in Cash Equivalent Investments; PROVIDED, that such Cash
       Equivalent Investments are not subject to setoff rights (other than in
       favor of a Secured Party); PROVIDED further that, to the extent any Loans
       are outstanding, the aggregate amount of cash and Cash Equivalent
       Investments held by the Borrower and its Subsidiaries shall not exceed
       $10,000,000 for any period of three consecutive Business Days;

               (b) intercompany loans permitted by CLAUSES (c), () and (G) of
       SECTION 7.2.2;

               (c) capital contributions made by (i) the Borrower in Subsidiary
       Guarantors (other than Taylor Holding Co.), (ii) Subsidiary Guarantors in
       other Subsidiary Guarantors (other than Taylor Holding Co.) and (iii)
       Subsidiary Guarantors in the Borrower;

               (d) the Borrower and its Subsidiaries (other than Taylor Holding
       Co.) may make Investments to consummate a Permitted Acquisition;

               (e) the Borrower and its Subsidiaries may make loans and advances
       to employees for moving, entertainment, travel, relocation and other
       similar expenses in the ordinary course of business not to exceed
       $1,000,000 (MINUS the aggregate amount of Contingent Liabilities incurred
       in accordance with CLAUSE (i) of SECTION 7.2.8) in the aggregate at any
       time outstanding;

               (f) Investments constituting Capital Expenditures to the extent
       permitted by the terms of this Agreement;

                                      -71-
<Page>

               (g) Investments consisting of the extension of trade credit by
       the Borrower or any of its Subsidiaries made in the ordinary course of
       business;

               (h) Investments consisting of advances to sales representatives
       in the ordinary course of business and in a manner consistent with past
       practices of the Borrower and its Subsidiaries;

               (i) Investments made in exchange for accounts receivable of the
       Borrower or any of its Subsidiaries arising in the ordinary course of
       business which are, in the good faith judgment of such Person,
       substantially uncollectible;

               (j) Investments (including debt obligations, Capital Securities
       or other property) to the extent received from another Person by the
       Borrower or any of its Subsidiaries in connection with (i) any
       bankruptcy, reorganization, composition, readjustment of debt or workout
       of any supplier or customer of any such Person in settlement of
       delinquent obligations of, and other disputes with, such suppliers or
       customers and (ii) the satisfaction or enforcement of indebtedness or
       claims due or owing to the Borrower or any of its Subsidiaries or as
       security for any such indebtedness or claim, in each case arising in the
       ordinary course of business;

               (k) Investments existing on the date hereof and set forth on ITEM
       7.2.5(k) of the Disclosure Schedule and all extensions or renewals of
       such existing Investments on substantially similar terms;

               (l) Contingent Liabilities permitted by SECTION 7.2.8;

               (m) Investments consisting of promissory notes and other noncash
       consideration received as proceeds of Asset Dispositions permitted by
       SECTION 7.2.11;

               (n) Investments consisting of acceptance and endorsements of
       checks or other negotiable instruments for deposit or collection in the
       ordinary course of business;

               (o) Investments in performance, bid or advance payment bonds and
       insurance contracts to the extent not prohibited by this Agreement and in
       a manner consistent with past practices (as in effect on the Closing
       Date) of the Borrower and its Subsidiaries;

               (p) Investments consistent with past practices (as in effect on
       the Closing Date) of the Borrower and its Subsidiaries consisting of
       guaranties of Indebtedness of, or loans or advances to, sales
       representatives of such Obligors to finance the acquisition of sales
       territories from former sales representatives of such Obligors to the
       extent that the aggregate amount of such Investments shall not exceed
       $5,000,000 at any time outstanding;

               (q) Investments made pursuant to CLAUSE (a) of SECTION 7.2.6;

               (r) Investments made by the Borrower and/or Subsidiary Guarantors
       in Foreign Subsidiaries; PROVIDED, that the amount of such Investments,
       when aggregated with (i) the amount of intercompany Indebtedness owed by
       Foreign Subsidiaries to the

                                      -72-
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       Borrower and the Subsidiary Guarantors pursuant to CLAUSE (c)(ii) of
       SECTION 7.2.2 and (ii) the amount of Dispositions made by the Borrower
       and the Subsidiary Guarantors to Foreign Subsidiaries pursuant to CLAUSE
       (m) of SECTION 7.2.11, shall not exceed $5,000,000 at any time; and

               (s) other Investments in the ordinary course of business not to
       exceed $2,000,000; PROVIDED that such Investments shall not be used by
       Taylor Holding Co.;

PROVIDED, HOWEVER, that any Investment which when made complies with the
requirements of the definition of the term "Cash Equivalent Investment" may
continue to be held notwithstanding that such Investment if made thereafter
would not comply with such requirements; and no Investment otherwise permitted
by CLAUSES (d), (p) or (S) shall be permitted to be made if any Default has
occurred and is continuing or would result therefrom.

SECTION 7.2.6. RESTRICTED JUNIOR PAYMENTS. The Borrower will not, nor will the
       Borrower permit any of its Subsidiaries directly or indirectly to,
       declare, order, pay, make or set apart any sum for any Restricted Junior
       Payment, except that:

(a) any Subsidiary may make payments and distributions to the Borrower or to
       any Subsidiary Guarantor (other than Taylor Holding Co.); PROVIDED, that
       Restricted Junior Payments that are used in all such cases to permit such
       Obligor to redeem, retire or purchase its Capital Securities issued to
       employees, consultants, agents, officers and directors of such Obligor or
       any of its Subsidiaries shall only be permitted if no Default has
       occurred and is continuing before or will exist immediately after giving
       effect to such Restricted Junior Payment, and PROVIDED FURTHER, that the
       aggregate amount of all such Restricted Junior Payments do not exceed
       $500,000 during any Fiscal Year and $2,000,000 during the term of this
       Agreement;

(b) the Borrower and the Subsidiary Guarantors may make (i) the payment (when
       due) of the semi-annual interest payments on the Senior Unsecured Notes
       and (ii) the prepayment or redemption of the principal of Senior
       Unsecured Notes (together with accrued interest thereon and premium, if
       any) pursuant to Section 4.10 of the Indenture with the proceeds of asset
       sales that have not been reinvested in replacement assets by the Borrower
       or any Subsidiary Guarantor or used to prepay the principal amount of the
       Loans, in each case as described in the Indenture;

(c)  CBI may make scheduled interest payments with respect to the CBI Senior
       Subordinated Notes; PROVIDED, that (i) no Event of Default under SECTION
       8.1.1 exists at the time of any such payment, (ii) no "Payment Blockage
       Period" is then in effect under the CBI Indenture, and (iii) such
       payments are not precluded by Section 10.2(a) of the CBI Indenture;

(d)  the Borrower and its Subsidiaries may make scheduled interest payments with
       respect to Seller Note Indebtedness; PROVIDED, that (i) no Default shall
       exist before or after making such payment and (ii) such payment would not
       be in contravention of the subordination term governing such Seller Note
       Indebtedness;

                                      -73-
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(e) Restricted Junior Payments made by the Borrower to redeem shares of CBI
       Preferred Stock, the Warrants and other Capital Securities of the
       Borrower, with the proceeds of a sale and leaseback transaction permitted
       pursuant to SECTION 7.2.15 or from Additional Equity, PROVIDED, that no
       Default shall exist before or after making such Restricted Payment; and

(f) Restricted Junior Payments made by the Borrower and its Subsidiaries to
       prepay, redeem, purchase or otherwise acquire Senior Unsecured Notes
       and/or the CBI Senior Subordinated Notes and/or Seller Note Indebtedness
       with the proceeds of Additional Equity or from a sale and leaseback
       transaction permitted pursuant to SECTION 7.2.15, so long as no Default
       shall exist before or after making such payment.

SECTION 7.2.7. CAPITAL EXPENDITURES, ETC. Subject (in the case of Capitalized
       Lease Liabilities), to CLAUSE (e) of SECTION 7.2.2, the Borrower will
       not, and will not permit any of its Subsidiaries to, make or commit to
       make Capital Expenditures in any Fiscal Year which aggregate in excess of
       (x) $15,000,000 in Fiscal Year 2002 and (y) $12,000,000 in each Fiscal
       Year thereafter; PROVIDED, HOWEVER, that to the extent the amount of
       Capital Expenditures permitted to be made in any Fiscal Year pursuant to
       this Section exceeds the aggregate amount of Capital Expenditures
       actually made during such Fiscal Year, such excess amount (up to the
       lesser of (i) $3,000,000 or (ii) 75% of the total amount of unutilized
       Capital Expenditures permitted to be made in such Fiscal Year, without
       giving effect to any carry-forward) may be carried forward to (but only
       to) the next succeeding Fiscal Year (any such amount to be certified by
       the Borrower to the Administrative Agent in the Compliance Certificate
       delivered for the last Fiscal Quarter of such Fiscal Year, and any such
       amount carried forward to a succeeding Fiscal Year shall be deemed to be
       used prior to the Borrower and its Subsidiaries using the amount of
       Capital Expenditures permitted by this Section in such succeeding Fiscal
       Year without giving effect to such carry-forward).

SECTION 7.2.8. CONTINGENT LIABILITIES. The Borrower will not, nor will the
       Borrower permit any of its Subsidiaries directly or indirectly to, create
       or become or be liable with respect to any Contingent Liability except:

(a) the Obligations;

(b) those resulting from endorsement of negotiable instruments for collection
       in the ordinary course of business;

(c) those existing on the Closing Date (including unsecured guarantees of the
       Senior Unsecured Notes delivered by Subsidiary Guarantors) and described
       in ITEM 7.2.8(c) of the Disclosure Schedule and any refinancings,
       refundings, renewals or extensions thereof;

(d) those arising under indemnity agreements to title insurers to cause such
       title insurers to issue to the Administrative Agent mortgagee title
       insurance policies;

(e) those arising with respect to customary indemnification obligations
       incurred in connection with Asset Dispositions;

                                      -74-
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(f) those incurred by the Borrower and its Subsidiaries in the ordinary course
       of business with respect to surety and appeal bonds, performance and
       return-of-money bonds and other similar obligations not exceeding at any
       time outstanding $3,500,000 in aggregate liability;

(g) those incurred by any Person with respect to Indebtedness that such Person
       is permitted to incur pursuant to SECTION 7.2.2;

(h) those incurred by the Borrower and its Subsidiaries with respect to the
       obligations or liabilities of the Borrower or other Subsidiaries (other
       than Taylor Holding Co.), including any guaranty by the Borrower or any
       Subsidiary of rental payment obligations of the Mexican Subsidiary under
       real property leases, so long as the aggregate amount of obligations and
       liabilities so guarantied under this clause shall not exceed $1,000,000
       in any Fiscal Year;

(i)  those incurred by the Borrower or any of its Subsidiaries with respect to
       obligations or liabilities of employees in the ordinary course of
       business not to exceed $1,000,000 (minus the aggregate amount of
       Investments made in accordance with CLAUSE (e) of SECTION 7.2.5) for the
       Borrower and its Subsidiaries in the aggregate at any time outstanding;

(j) guaranties permitted by CLAUSE (p) of SECTION 7.2.5;

(k) unsecured (unless a Lien is granted in favor of Scotia Capital) Contingent
       Liabilities incurred in the ordinary course of business and not for
       speculative purposes to fix or hedge foreign currency risk or commodity
       risk in connection with the purchase of Gold; and

(l) any other Contingent Liabilities (other than Contingent Liabilities in
       favor of Taylor Holding Co.) of the Borrower and its Subsidiaries not
       expressly permitted by CLAUSES (a) through (k) above, so long as any such
       other Contingent Liabilities do not exceed $1,000,000.

SECTION 7.2.9. ISSUANCE OF CAPITAL SECURITIES. The Borrower will not permit any
       of its U.S. Subsidiaries to issue any Capital Securities (whether for
       value or otherwise) to a Person other than the Borrower or another wholly
       owned Subsidiary (other than Taylor Holding Co.); PROVIDED that such
       Capital Securities shall be pledged to the Administrative Agent pursuant
       to a Loan Document within five Business Days following such issuance.

SECTION 7.2.10. RESTRICTION ON FUNDAMENTAL CHANGES. The Borrower will not, nor
       will the Borrower permit any of its Subsidiaries directly or indirectly
       to, (a) amend, modify or waive any term or provision of its
       organizational documents, including its articles of incorporation,
       certificates of designations pertaining to preferred stock, by-laws,
       partnership agreement or members' agreement except in a manner that would
       not conflict with any provision of any Loan Document and would not be
       adverse in any material respect to Lenders, unless required by law; (b)
       enter into any transaction of merger or consolidation except (i) to
       consummate a Permitted Acquisition, (ii) upon not less than five (5)
       Business Days prior written notice to the Administrative Agent, any
       Subsidiary Guarantor (other than Taylor Holding Co.) may be merged or
       consolidated with or into

                                      -75-
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       another Subsidiary Guarantor (other than Taylor Holding Co.), and (iii)
       the Borrower and its Subsidiaries may enter into an agreement to effect
       any merger or consolidation, the closing of which is conditioned upon the
       payment in full in cash of all of the Obligations (other than contingent
       indemnification obligations to the extent no unsatisfied claim giving
       rise thereto has been asserted) and the termination of the Revolving Loan
       Commitment; (c) liquidate, wind-up or dissolve itself (or suffer any
       liquidation or dissolution), except if it is permitted by CLAUSE (b) or
       (i) to the extent such Subsidiary is dormant, (ii) to the extent such
       dissolution, wind-up or liquidation will not have a Material Adverse
       Effect, or (iii) the Administrative Agent shall have consented thereto;
       or (d) except for Permitted Acquisitions, acquire by purchase or
       otherwise all or any substantial part of the business or assets of any
       other Person.

SECTION 7.2.11. DISPOSAL OF ASSETS OR SUBSIDIARY STOCK. The Borrower will not,
       nor will the Borrower permit any of its Subsidiaries directly or
       indirectly to, Dispose of, or grant any Person an option to acquire, in
       one transaction or a series of transactions, any of its property,
       business or assets, or the Capital Securities of any of its Subsidiaries,
       whether now owned or hereafter acquired, except for:

(a) sales of inventory, Dispositions of obsolete or slow moving inventory and
       Dispositions of obsolete or worn out machinery and equipment, in each
       case made in the ordinary course of business and in a manner consistent
       with past practices as in effect on the Closing Date;

(b) licensing or sublicensing of intellectual property and general intangibles
       (including the licensing or granting of rights to sales representatives
       to sell products of the Borrower and its Subsidiaries) and other property
       of the Borrower or any of its Subsidiaries, in each case which do not
       materially interfere with the business of the Borrower or any of its
       Subsidiaries, made in the ordinary course of business and in a manner
       consistent with past practices in effect on the Closing Date;

(c) transfers of assets resulting from any casualty or condemnation of such
       assets;

(d) an agreement to effect the Disposition of all or a portion of
       the assets of the Borrower or such Subsidiary, the closing of which is
       conditioned upon the payment in full in cash of all of the Obligations
       (other than contingent indemnification obligations to the extent no
       unsatisfied claim giving rise thereto has been asserted) and the
       termination of the Revolving Loan Commitment;

(e) the sale or discount of overdue accounts receivable arising in the ordinary
       course of business, but only if no Event of Default exists and only in
       connection with the compromise or collection thereof;

(f) the sale or other Disposition, in each case for fair market value, of any
       Investments (exclusive of Investments in Subsidiaries) permitted to be
       made by SECTION 7.2.5;

(g) the leasing or subleasing of real estate in the ordinary course of
       business, including entering into renewals or extensions of existing
       leases, entering into replacement leases, entering into subleases and
       other similar transactions;

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(h) an Asset Disposition otherwise permitted by SECTION 7.2.10;

(i) the sale or issuance of Capital Securities by a Subsidiary to another
       wholly owned Subsidiary (other than Taylor Holding Co.) or to the
       Borrower; PROVIDED, that any Capital Securities issued by a U.S.
       Subsidiary shall be pledged (together with undated stock powers executed
       in blank) to the Administrative Agent under a Loan Document within five
       Business Days following its issuance;

(j) any consignment arrangements or similar arrangements for the sale of assets
       in the ordinary course of business and consistent with past practices as
       in effect on the Closing Date;

(k) the Qualified SLB;

(l) Dispositions made by (i) the Borrower to Subsidiary Guarantors (other than
       Taylor Holding Co.), (ii) Subsidiary Guarantors to other Subsidiary
       Guarantors (other than Taylor Holding Co.) and (iii) Subsidiary
       Guarantors to the Borrower;

(m) Dispositions made by the Borrower and/or Subsidiary Guarantors to Foreign
       Subsidiaries; PROVIDED, that the amount of such Dispositions, when
       aggregated with (i) the amount of intercompany Indebtedness owed by
       Foreign Subsidiaries to the Borrower and the Subsidiary Guarantors
       pursuant to CLAUSE (c)(ii) of SECTION 7.2.2 and (ii) the amount of
       Investments made by the Borrower and the Subsidiary Guarantors in Foreign
       Subsidiaries pursuant to CLAUSE (r) of SECTION 7.2.5, shall not exceed
       $5,000,000 at any time; and

(n) other Asset Dispositions (exclusive of Investments in Subsidiaries and
       Asset Dispositions to Taylor Holding Co.) by the Borrower or any of its
       Subsidiaries if all of the following conditions are met: (i) the market
       value of assets Disposed of in any single transaction or series of
       related transactions does not exceed $750,000 and the aggregate market
       value of assets Disposed of in any Fiscal Year does not exceed
       $1,500,000; (ii) the consideration received is approximately equal to the
       fair market value of such assets; (iii) the sole consideration received
       is cash; (iv) after giving effect to the Asset Disposition and the
       repayment of Indebtedness (if any) with the proceeds thereof, the
       Borrower is in compliance on a PRO FORMA basis with the covenants set
       forth in SECTION 7.2.4 recomputed for the most recently ended Fiscal
       Quarter for which information is available and is in compliance with all
       other terms and conditions contained in this Agreement; and (v) no
       Default then exists or shall result from such Asset Disposition.

Notwithstanding any of the foregoing, the Borrower will not permit Taylor
Holding Co. to assign, pledge (except in favor of the Administrative Agent),
sell or otherwise transfer in any manner whatsoever any CBI Senior Subordinated
Notes held by Taylor Holding Co. to any Person; PROVIDED, HOWEVER, that Taylor
Holding Co. shall be permitted to retire, cancel or otherwise terminate such CBI
Senior Subordinated Notes in a manner reasonably satisfactory to the
Administrative Agent.

SECTION 7.2.12. CHANGES RELATING TO INDEBTEDNESS/GOLD CONSIGNMENT AGREEMENT. The
       Borrower will not, nor will the Borrower permit any of its Subsidiaries
       directly or indirectly to,

                                      -77-
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(a) change or amend the terms of any of its Subordinated Debt, the Seller Notes
       or the Senior Unsecured Notes if the effect of such amendment is to:

(i) increase the interest rate on such Indebtedness;

(ii) change the dates upon which payments of principal or interest are due on
       such Indebtedness (other than any changes that would extend the maturity
       or date of payment of such principal or interest or reduce the amount of
       such payment);

(iii) change any event of default or add or make more restrictive any covenant
       with respect to such Indebtedness;

(iv) change the prepayment provisions of such Indebtedness;

(v) change the subordination provisions thereof (or the subordination terms of
       any guaranty thereof); or

(vi) change or amend any other term if such change or amendment would materially
       increase the obligations of the obligor or confer additional material
       rights on the holder of such Indebtedness in a manner adverse to the
       Borrower, any of its Subsidiaries or the Lenders;

PROVIDED, that CBI will not designate any Indebtedness (other than the
Obligations) as "Designated Senior Indebtedness" under clause (i) of the
definition thereof under the CBI Indenture, nor will the Borrower or any of its
Subsidiaries pay any monetary consideration for any amendments, waiver or other
modifications permitted in CLAUSES (i) through (vi) above; or

b) change or amend the terms of the Gold Consignment Agreement if the effect
       of such amendment is to (i) increase the "Commitment Amount", as such
       term is defined in the Gold Consignment Agreement, by more than 10%
       during any Fiscal Year; (ii) change any event of default or add or make
       more restrictive any covenant with respect thereto; (iii) grant
       additional collateral (other than that in effect on the Closing Date); or
       (iv) change or amend any other term if such change or amendment would (A)
       materially increase the monetary obligations of the obligor or (B) confer
       additional material rights on the holder of the Gold Consignment
       Agreement in a manner adverse to the Lenders.

SECTION 7.2.13. TRANSACTIONS WITH AFFILIATES. The Borrower will not, nor will
       the Borrower permit any of its Subsidiaries directly or indirectly to,
       enter into or permit to exist any transaction (including the purchase,
       sale, lease or exchange of any property or the rendering of any
       management, consulting, investment banking, advisory or other similar
       services) with any Affiliate or with any director, officer or employee of
       any Obligor, except

(a) payments of the management fees as set forth on ITEM 7.2.13 of the
       Disclosure Schedule not to exceed $3,000,000 in any Fiscal Year; provided
       that the maximum amount of fees for any Fiscal Year may be increased by
       an amount equal to the lesser of (a) $1,000,000 and (b) the sum of (i) 6%
       of the increase, if any, in EBITDA for such Fiscal Year resulting from
       Permitted Acquisitions consummated during such Fiscal Year and (ii) the
       lesser of (x) 6% of the increase, if any, in EBITDA for such Fiscal Year
       due to equity

                                      -78-
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       contributions to the Borrower and its Subsidiaries made by CHP during
       such Fiscal Year for purposes other than to consummate Permitted
       Acquisitions and (y) 25% of the aggregate amount of equity contributions
       to the Borrower and its Subsidiaries made by CHP during such Fiscal Year
       for purposes other than to consummate Permitted Acquisitions.
       Notwithstanding any of the foregoing, payments of management fees
       pursuant to this Section may only be made so long as both before and
       after giving effect to any such payment no Default shall have occurred
       and be continuing and the Borrower is in compliance with the covenants
       set forth in SECTION 7.2.4 assuming that the payment proposed to be made
       had been made on the last day of the calendar quarter most recently ended
       (PROVIDED, however after the cure or waiver of any such Event of Default
       or financial covenant non-compliance, the Borrower may pay management
       fees that were not paid as a result of the existence of such Event of
       Default or financial covenant non-compliance);

(b) transactions (other than those described in CLAUSE (c) below) in the
       ordinary course of business and pursuant to the reasonable requirements
       of the business of the Borrower and its Subsidiaries and upon fair and
       reasonable terms which are fully disclosed to the Administrative Agent
       (PROVIDED, that the terms of transactions with portfolio companies of CHP
       are not required to be disclosed to the Administrative Agent) and are no
       less favorable to the Borrower or Subsidiary than would be obtained in a
       comparable arm's length transaction with a Person that is not an
       Affiliate;

(c) payments of brokerage, investment bankers, director and other comparable
       fees upon fair and reasonable terms, are no less favorable to the
       Borrower or Subsidiary than would be obtained in a comparable arm's
       length transaction with a Person that is not an Affiliate and the
       aggregate amount of all payments made by the Borrower and its
       Subsidiaries in connection therewith do not exceed $750,000 during any
       Fiscal Year and $2,000,000 during the term of this Agreement;

(d) payment of reasonable compensation (including reasonable bonuses) to
       officers and employees for services actually rendered to the Borrower or
       a Subsidiary of the Borrower; and

(e) transactions among the Borrower and its Subsidiaries (and among
       Subsidiaries) otherwise permitted herein.

SECTION 7.2.14. NO RESTRICTIONS ON SUBSIDIARY DISTRIBUTIONS TO OBLIGORS. Except
       as provided herein, the Borrower will not, nor will the Borrower permit
       any of its Subsidiaries directly or indirectly to, create or otherwise
       cause or suffer to exist or become effective any consensual encumbrance
       or restriction of any kind on the ability of any such Subsidiary to:

          (a) pay dividends or make any other distribution on any of such
       Subsidiary's Capital Securities owned by the Borrower or any Obligor;

          (b) pay any Indebtedness owed to the Borrower or any other Obligor;

          (c) make loans or advances to the Borrower or any other Obligor;

                                      -79-
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          (d) transfer any of its property or assets to the Borrower or any
       other Obligor;

          (e) create or assume any Lien upon its properties, revenues or assets,
       whether now owned or hereafter acquired; or

          (f) amend or otherwise modify any Loan Document.

The foregoing prohibitions shall not apply to restrictions contained (i) in any
Loan Document or (ii) in the case of CLAUSE (c), any agreement governing any
Indebtedness permitted by CLAUSE (e) of SECTION 7.2.2 as to the assets financed
with the proceeds of such Indebtedness.

SECTION 7.2.15. SALE AND LEASEBACK; LANDLORD WAIVER. (a) The Borrower will not,
       and will not permit any of its Subsidiaries to, directly or indirectly
       enter into any Sale and Leaseback Transaction; PROVIDED that the Borrower
       may enter into the Qualified SLB so long as (i) no Default has occurred
       and is continuing or would result therefrom and (ii) the Borrower shall
       have provided the Administrative Agent written notice of the Qualified
       SLB at least 15 Business Days prior to the consummation thereof.

(b) The Borrower shall use its best efforts to have the lessor of the property
       that is the subject of the Qualified SLB (prior to the consummation of
       the Qualified SLB) execute and deliver to the Administrative Agent a
       waiver (with respect to the lease for such property) in form and
       substance reasonably satisfactory to the Administrative Agent; PROVIDED,
       that until the Administrative Agent receives a copy of such waiver, duly
       executed by such lessor, or in the event such best efforts do not result
       in the delivery of such a waiver, the Borrowing Base Amount shall be
       reduced by an amount equal to six (6) months of the then current rent
       under the terms of the lease relating to the property that is the subject
       of the Qualified SLB.

SECTION 7.2.16. SUBSIDIARIES. The Borrower will not, nor will the Borrower
       permit any of its Subsidiaries directly or indirectly to, establish,
       create or acquire any new Subsidiary, except that the Borrower and its
       Subsidiaries (other than Taylor Holding Co.) may establish, create or
       acquire Subsidiaries to consummate a Permitted Acquisition. The Borrower
       shall give the Administrative Agent at least ten (10) Business Days'
       advance written notice of the establishment, creation or acquisition of
       any such Subsidiary and shall comply with SECTION 7.1.8.

SECTION 7.2.17. ACCOUNTING CHANGES. The Borrower will not, and will not permit
       any of its Subsidiaries to, change its or their Fiscal Year.

                                  ARTICLE VIII
                                EVENTS OF DEFAULT

SECTION 8.1. LISTING OF EVENTS OF DEFAULT. Each of the following events or
       occurrences described in this Article shall constitute an "EVENT OF
       DEFAULT".

                                      -80-
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SECTION 8.1.1. PAYMENT. The Borrower shall default in the payment or prepayment
       when due of

(a) any payment of principal of any Loan when due, or to reimburse the
       Administrative Agent for any Reimbursement Obligation or any deposit of
       cash for collateral purposes pursuant to SECTION 2.6.4; or

(b) any interest on any Loan, or any fee described in Article III or any other
       monetary Obligation, and such default shall continue unremedied for a
       period of five days after such amount was due.

SECTION 8.1.2. BREACH OF WARRANTY. Any representation, warranty, certification
       or other statement made by any Obligor in any Loan Document or in any
       statement or certificate at any time given by such Person in writing
       pursuant or in connection with any Loan Document is false in any material
       respect on the date made.

SECTION 8.1.3. BREACH OF CERTAIN PROVISIONS. Failure of the Borrower or a
       Subsidiary to perform or comply with any term or condition contained in
       (i) SECTION 7.2 (other than SECTION 7.2.1), SECTION 7.1.1, SECTION 7.1.7
       or SECTION 7.1.10; or (ii) that portion of SECTION 7.1.3 relating to the
       Borrower's and its Subsidiaries' obligation to maintain insurance and
       such failure is not remedied or waived within five (5) days of such
       failure; or (iii) SECTION 7.1.4 or SECTION 7.2.1 and such failure is not
       remedied or waived within ten (10) days of such failure.

SECTION 8.1.4. OTHER DEFAULTS UNDER LOAN DOCUMENTS. The Borrower or any other
       Obligor defaults in the performance of or compliance with any term
       contained in this Agreement or the other Loan Documents and such default
       is not remedied or waived within thirty (30) days after receipt by the
       Borrower of notice from the Administrative Agent or the Required Lenders
       of such default (other than occurrences described in other provisions of
       this Article for which a different grace or cure period is specified or
       which constitute immediate Events of Default).

SECTION 8.1.5. DEFAULT IN OTHER AGREEMENTS. (i) Failure of the Borrower or any
       of its Subsidiaries to pay when due (whether by acceleration or
       otherwise) or within any applicable grace period any principal or stated
       amount of, or interest on, Indebtedness (other than the Credit
       Extensions) or any Contingent Liability or (ii) breach or default of the
       Borrower or any of its Subsidiaries, or the occurrence of any condition
       or event, with respect to any Indebtedness (other than the Credit
       Extensions) or any Contingent Liabilities, if the effect of such failure
       to pay, breach, default or occurrence is to cause, or to permit the
       holder or holders (or, if applicable, the trustee or agent for such
       holders) then to cause, Indebtedness and/or Contingent Liabilities having
       an individual principal amount in excess of $500,000 or having an
       aggregate principal (or stated) amount in excess of $1,000,000 to become
       or be declared due prior to their stated maturity or to require such
       Indebtedness and/or Contingent Liabilities to be redeemed, purchased or
       defeased (or require an offer to be made to the holders thereof to
       redeem, purchase or defease such Indebtedness and/or Contingent
       Liabilities).

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SECTION 8.1.6. JUDGMENTS AND ATTACHMENTS. Any money judgment (other than those
       described in SECTION 8.1.9) involving (1) an amount in any individual
       case in excess of $500,000 or (2) an amount in the aggregate at any time
       in excess of $1,000,000 (in either case to the extent not adequately
       covered by insurance) is entered or filed against the Borrower or any of
       its Subsidiaries or any of their respective assets and remains
       undischarged, unvacated, unbonded or unstated for a period of sixty (60)
       days or in any event later than five (5) Business Days prior to the date
       of any proposed sale of assets thereunder with a fair market or book
       value in excess of $250,000 in the aggregate.

SECTION 8.1.7. ERISA; PENSION PLANS. Either (i) the Borrower or any of its
       Affiliates fails to make full payment when due of all amounts which,
       under the provisions of any employee benefit plans or any applicable
       provisions of the Code, any such Person is required to pay as
       contributions thereto and such failure results in or is likely to result
       in a Material Adverse Effect; or (ii) an accumulated funding deficiency
       in excess of $1,000,000 occurs or exists, whether or not waived, with
       respect to any such employee benefit plans; or (iii) any employee benefit
       plan loses its status as a qualified plan under the Code which results in
       or could reasonably be expected to result in a Material Adverse Effect.

SECTION 8.1.8. CHANGE IN CONTROL. Any Change in Control shall occur.

SECTION 8.1.9. INVOLUNTARY BANKRUPTCY; APPOINTMENT OF RECEIVER, ETC. Any of the
       following events shall occur:

(a) a court enters a decree or order for relief with respect to the Borrower or
       any of its Subsidiaries (other than the Mexican Subsidiary) in an
       involuntary case under the Bankruptcy Code, which decree or order is not
       stayed or other similar relief is not granted under any applicable
       federal or state law; or

(b) the continuance of any of the following events for seventy-five (75) days
       unless dismissed, stayed, bonded or discharged; (i) an involuntary case
       is commenced against the Borrower or any of its Subsidiaries (other than
       the Mexican Subsidiary), under any applicable bankruptcy, insolvency or
       other similar law now or hereafter in effect; or (ii) a decree or order
       of a court for the appointment of a receiver, liquidator, sequestrator,
       trustee, custodian or other officer having similar powers over the
       Borrower or any of its Subsidiaries (other than the Mexican Subsidiary),
       or over all or a substantial part of its property, is entered; or (iii)
       an interim receiver, trustee or other custodian is appointed without the
       consent of the Borrower or any of its Subsidiaries (other than the
       Mexican Subsidiary), for all or a substantial part of the property of any
       such Person; or

(c) the Borrower or any of its Subsidiaries (other than the Mexican Subsidiary)
       commences a voluntary case under the Bankruptcy Code, or consents to the
       entry of an order for relief in an involuntary case or to the conversion
       of an involuntary case to be a voluntary case under any such law or
       consents to the appointment of or taking possession by a receiver,
       trustee or other custodian for all or a substantial part of its property;
       or

(d) the Borrower or any of its Subsidiaries (other than the Mexican Subsidiary)
       makes any assignment for the benefit of creditors; or

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(e) the Board of Directors of the Borrower or any of its Subsidiaries (other
       than the Mexican Subsidiary) adopts any resolution or otherwise
       authorizes action to approve any of the actions referred to in this
       section.

SECTION 8.1.10. FAILURE OF SECURITY. The Administrative Agent, for the benefit
       of the Administrative Agent and the Secured Parties, does not have or
       ceases to have a valid and perfected first priority security interest
       free and clear of all Liens or claims (except for Liens permitted
       pursuant to SECTION 7.2.3) in all or any substantial portion of the
       Collateral, in each case, for any reason other than the failure of the
       Administrative Agent to take any action within its control.

SECTION 8.1.11. FAILURE OF SUBORDINATION. Unless otherwise waived or consented
       to by the Administrative Agent, the Lenders and the Issuers in writing,
       the subordination provisions relating to any Subordinated Debt or Seller
       Note Indebtedness (the "SUBORDINATION PROVISIONS") shall fail to be
       enforceable by the Administrative Agent, the Lenders and the Issuers in
       accordance with the terms thereof, or the monetary Obligations shall fail
       to constitute "Senior Indebtedness" (or similar term) referring to the
       Obligations; or the Borrower or any of its Subsidiaries shall, directly
       or indirectly, disavow or contest in any manner (i) the effectiveness,
       validity or enforceability of any of the Subordination Provisions, (ii)
       that the Subordination Provisions exist for the benefit of the
       Administrative Agent, the Lenders and the Issuers or (iii) that all
       payments of principal of or premium and interest on the Subordinated Debt
       or Seller Note Indebtedness, or realized from the liquidation of any
       property of any Obligor, shall be subject to any of such Subordination
       Provisions.

SECTION 8.1.12. DAMAGES; CASUALTY. Any material damage to, or loss, theft or
       destruction of, any Collateral, whether or not insured, or any lockout,
       embargo, condemnation, act of God or public enemy, or other casualty or
       any other event which causes, for more than thirty (30) consecutive days,
       the cessation or substantial curtailment of revenue producing activities
       at any facility of the Borrower or any of its Subsidiaries, if any such
       event or circumstance could reasonably be expected to have a Material
       Adverse Effect.

SECTION 8.1.13. LICENSES AND PERMITS. The loss, suspension or revocation of, or
       failure to renew, any license or permit now held or hereafter acquired by
       the Borrower or any of its Subsidiaries, if such loss, suspension,
       revocation or failure to renew could reasonably be expected to have a
       Material Adverse Effect.

SECTION 8.1.14. CHANGE OF CONTROL/ASSET SALE UNDER CBI INDENTURE. A "CHANGE OF
       CONTROL" or "ASSET SALE", each as defined in the CBI Indenture, shall
       occur.

SECTION 8.1.15. NET OPERATING LOSSES. A change in the ownership of any stock
       issued by the Borrower or CBI shall occur and (i) as a result of such
       change in stock ownership, CBI shall experience an "ownership change"
       within the meaning of Section 382 of the Code, (ii) as a result of such
       ownership change, the ability of CBI or the affiliated group of
       corporations for Federal income tax purposes that includes CBI (the "CBI
       AFFILIATED GROUP") to use net operating losses ("NOLs") to offset taxable
       income earned by CBI or the CBI Affiliated Group is restricted, and (iii)
       such restriction would result in an

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       increase in the Federal income tax liability of CBI or the CBI Affiliated
       Group and, in the year such ownership change occurs or any later taxable
       year, would reduce the amount of NOLs available to offset taxable income
       earned by CBI or the CBI Affiliated Group by at least $10,000,000.

SECTION 8.1.16. INJUNCTION. The Borrower and its Subsidiaries taken as a whole
       are enjoined, restrained or in any way prevented by the order of any
       court or any administrative or regulatory agency from conducting all or
       any material part of its business for more than thirty (30) days if any
       such event or circumstances could reasonably be expected to have a
       Material Adverse Effect.

SECTION 8.1.17. ENVIRONMENTAL MATTERS. The Borrower or any of its Subsidiaries
       fails to: (i) obtain or maintain any operating licenses or permits
       required by Environmental Law; (ii) begin, continue or complete any
       remediation activities as required by any Environmental Law; (iii) store
       or dispose of any Hazardous Materials in accordance with applicable
       Environmental Laws; or (iv) comply with any Environmental Law; if any
       such failure, individually or in the aggregate, could reasonably be
       expected to have a Material Adverse Effect.

SECTION 8.1.18. DISSOLUTION. Any order, judgment or decree is entered against
       the Borrower or any of its Subsidiaries (other than the Mexican
       Subsidiary) decreeing the dissolution of any such Person and such order
       remains undischarged, unvacated, unbonded or unstayed for a period in
       excess of fifteen (15) days.

SECTION 8.1.19. SOLVENCY. The Borrower or any Subsidiary Guarantor admits in
       writing its present or prospective inability to pay its debts as they
       become due.

SECTION 8.1.20. INVALIDITY OF LOAN DOCUMENTS. Any of the Loan Documents for any
       reason, other than a partial or full release in accordance with the terms
       thereof, ceases to be in full force and effect or is declared to be null
       and void (and, if such invalidity is such so as to be amenable to cure
       without disadvantaging the position of the Lenders thereunder, the
       Borrower shall have failed to cure such invalidity within thirty (30)
       days after notice from the Administrative Agent), or any Obligor denies
       that it has any further liability under any Loan Documents to which it is
       party, or gives notice to such effect (except as such Loan Documents may
       be terminated or no longer in force and effect in accordance with the
       terms thereof).

SECTION 8.1.21. EVENT OF DEFAULT UNDER GOLD CONSIGNMENT AGREEMENT. The existence
       of an "EVENT OF DEFAULT", as defined in the Gold Consignment Agreement.

SECTION 8.1.22. CONDUCT OF BUSINESS. Taylor Holding Co. engages in any type of
       business activity other than (i) the ownership of 1% of the Capital
       Securities of Taylor, (ii) the ownership of the CBI Senior Subordinated
       Notes owned by it as of the Closing Date and (iii) the performance of its
       obligations under the Loan Documents to which it is a party.

SECTION 8.2. ACTION IF BANKRUPTCY. If any Event of Default described in CLAUSES
       (a) through (d) of SECTION 8.1.9 with respect to the Borrower shall
       occur, the Commitments (if not theretofore terminated) shall
       automatically terminate and the outstanding principal

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       amount of all outstanding Loans and all other Obligations (including
       Reimbursement Obligations) shall automatically be and become immediately
       due and payable, without notice or demand to any Person, each Obligor
       shall automatically and immediately be obligated to Cash Collateralize
       all Letter of Credit Outstandings and the Obligations of each Subsidiary
       Guarantor under the Subsidiary Guaranty shall automatically be deemed
       accelerated.

SECTION 8.3. ACTION IF OTHER EVENT OF DEFAULT. If any Event of Default (other
       than any Event of Default described in CLAUSES (a) through (D) of SECTION
       8.1.9 with respect to the Borrower) shall occur for any reason, whether
       voluntary or involuntary, and be continuing, the Administrative Agent,
       upon the direction of the Required Lenders, shall by notice to the
       Borrower declare all or any portion of the outstanding principal amount
       of the Loans and other Obligations (including Reimbursement Obligations)
       to be due and payable and/or the Commitments (if not theretofore
       terminated) to be terminated, whereupon the full unpaid amount of such
       Loans and other Obligations which shall be so declared due and payable
       shall be and become immediately due and payable, without further notice,
       demand or presentment, and/or, as the case may be, the Commitments shall
       terminate and the Borrower shall automatically and immediately be
       obligated to Cash Collateralize all Letter of Credit Outstandings. At
       such time the obligations of each Subsidiary Guarantor under the
       Subsidiary Guaranty shall automatically be deemed accelerated.

                                   ARTICLE IX
                            THE ADMINISTRATIVE AGENT

SECTION 9.1. ACTIONS. Each Lender hereby appoints Scotia Capital as its
       Administrative Agent under and for purposes of each Loan Document. Each
       Lender authorizes the Administrative Agent to act on behalf of such
       Lender under each Loan Document and, in the absence of other written
       instructions from the Required Lenders received from time to time by the
       Administrative Agent (with respect to which the Administrative Agent
       agrees that it will comply, except as otherwise provided in this Section
       or as otherwise advised by counsel in order to avoid contravention of
       applicable law), to exercise such powers hereunder and thereunder as are
       specifically delegated to or required of the Administrative Agent by the
       terms hereof and thereof, together with such powers as may be incidental
       thereto. Each Lender hereby indemnifies (which indemnity shall survive
       any termination of this Agreement) the Administrative Agent, PRO RATA
       according to such Lender's proportionate Total Exposure Amount, from and
       against any and all liabilities, obligations, losses, damages, claims,
       costs or expenses of any kind or nature whatsoever which may at any time
       be imposed on, incurred by, or asserted against, the Administrative Agent
       in any way relating to or arising out of any Loan Document, (including
       attorneys' fees), and as to which the Administrative Agent is not
       reimbursed by the Borrower; PROVIDED, HOWEVER, that no Lender shall be
       liable for the payment of any portion of such liabilities, obligations,
       losses, damages, claims, costs or expenses which are determined by a
       court of competent jurisdiction in a final proceeding to have resulted
       from the Administrative Agent's gross negligence or wilful misconduct.
       The Administrative Agent shall not be required to take any action under
       any Loan Document, or to prosecute or defend any suit in respect of any
       Loan Document, unless it is

                                      -85-
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       indemnified hereunder to its satisfaction. If any indemnity in favor of
       the Administrative Agent shall be or become, in the Administrative
       Agent's determination, inadequate, the Administrative Agent may call for
       additional indemnification from the Lenders and cease to do the acts
       indemnified against hereunder until such additional indemnity is given.

SECTION 9.2. FUNDING RELIANCE, ETC. Unless the Administrative Agent shall have
       been notified in writing by any Lender by 3:00 p.m. on the Business Day
       prior to a Borrowing that such Lender will not make available the amount
       which would constitute its Percentage of such Borrowing on the date
       specified therefor, the Administrative Agent may assume that such Lender
       has made such amount available to the Administrative Agent and, in
       reliance upon such assumption, make available to the Borrower a
       corresponding amount. If and to the extent that such Lender shall not
       have made such amount available to the Administrative Agent, such Lender
       and the Borrower severally agree to repay the Administrative Agent
       forthwith on demand such corresponding amount together with interest
       thereon, for each day from the date the Administrative Agent made such
       amount available to the Borrower to the date such amount is repaid to the
       Administrative Agent, at the interest rate applicable at the time to
       Loans comprising such Borrowing (in the case of the Borrower) and (in the
       case of a Lender), at the Federal Funds Rate (for the first two Business
       Days after which such amount has not been repaid), and thereafter at the
       interest rate applicable to Loans comprising such Borrowing.

SECTION 9.3. EXCULPATION. Neither the Administrative Agent nor any of its
       directors, officers, employees or agents shall be liable to any Secured
       Party for any action taken or omitted to be taken by it under any Loan
       Document, or in connection therewith, except for its own wilful
       misconduct or gross negligence, nor responsible for any recitals or
       warranties herein or therein, nor for the effectiveness, enforceability,
       validity or due execution of any Loan Document, nor for the creation,
       perfection or priority of any Liens purported to be created by any of the
       Loan Documents, or the validity, genuineness, enforceability, existence,
       value or sufficiency of any collateral security, nor to make any inquiry
       respecting the performance by any Obligor of its Obligations. Any such
       inquiry which may be made by the Administrative Agent shall not obligate
       it to make any further inquiry or to take any action. The Administrative
       Agent shall be entitled to rely upon advice of counsel concerning legal
       matters and upon any notice, consent, certificate, statement or writing
       which the Administrative Agent believes to be genuine and to have been
       presented by a proper Person.

SECTION 9.4. SUCCESSOR. The Administrative Agent may resign as such at any time
       upon at least 30 days' prior notice to the Borrower and all Lenders. If
       the Administrative Agent at any time shall resign, the Required Lenders
       may appoint another Lender as a successor Administrative Agent which
       shall thereupon become the Administrative Agent hereunder. If no
       successor Administrative Agent shall have been so appointed by the
       Required Lenders, and shall have accepted such appointment, within 30
       days after the retiring Administrative Agent's giving notice of
       resignation, then the retiring Administrative Agent may, on behalf of the
       Lenders, appoint a successor Administrative Agent, which shall be one of
       the Lenders or a commercial banking institution organized under the laws
       of the United States (or any State thereof) or a United States branch or
       agency of a commercial banking institution, and having a combined capital
       and surplus of

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       at least $250,000,000; PROVIDED, HOWEVER, that if, such retiring
       Administrative Agent is unable to find a commercial banking institution
       which is willing to accept such appointment and which meets the
       qualifications set forth in above, the retiring Administrative Agent's
       resignation shall nevertheless thereupon become effective and the Lenders
       shall assume and perform all of the duties of the Administrative Agent
       hereunder until such time, if any, as the Required Lenders appoint a
       successor as provided for above. Upon the acceptance of any appointment
       as Administrative Agent hereunder by a successor Administrative Agent,
       such successor Administrative Agent shall be entitled to receive from the
       retiring Administrative Agent such documents of transfer and assignment
       as such successor Administrative Agent may reasonably request, and shall
       thereupon succeed to and become vested with all rights, powers,
       privileges and duties of the retiring Administrative Agent, and the
       retiring Administrative Agent shall be discharged from its duties and
       obligations under the Loan Documents. After any retiring Administrative
       Agent's resignation hereunder as the Administrative Agent, the provisions
       of this Article shall inure to its benefit as to any actions taken or
       omitted to be taken by it while it was the Administrative Agent under the
       Loan Documents, and SECTION 10.3 and SECTION 10.4 shall continue to inure
       to its benefit.

SECTION 9.5. LOANS BY SCOTIA CAPITAL. Scotia Capital shall have the same rights
       and powers with respect to (x) the Credit Extensions made by it or any of
       its Affiliates, and (y) the Notes held by it or any of its Affiliates as
       any other Lender and may exercise the same as if it were not the
       Administrative Agent. Scotia Capital and its Affiliates may accept
       deposits from, lend money to, and generally engage in any kind of
       business with the Borrower or any Subsidiary or Affiliate of the Borrower
       as if Scotia Capital were not the Administrative Agent hereunder.

SECTION 9.6. CREDIT DECISIONS. Each Lender acknowledges that it has,
       independently of the Administrative Agent and each other Lender, and
       based on such Lender's review of the financial information of the
       Borrower, the Loan Documents (the terms and provisions of which being
       satisfactory to such Lender) and such other documents, information and
       investigations as such Lender has deemed appropriate, made its own credit
       decision to extend its Commitments. Each Lender also acknowledges that it
       will, independently of the Administrative Agent and each other Lender,
       and based on such other documents, information and investigations as it
       shall deem appropriate at any time, continue to make its own credit
       decisions as to exercising or not exercising from time to time any rights
       and privileges available to it under the Loan Documents.

SECTION 9.7. COPIES, ETC. The Administrative Agent shall give prompt notice to
       each Lender of each notice or request required or permitted to be given
       to the Administrative Agent by the Borrower or any other Obligor pursuant
       to the terms of the Loan Documents (unless concurrently delivered to the
       Lenders by the Borrower or such Obligor). The Administrative Agent will
       distribute to each Lender each document or instrument received for its
       account and copies of all other communications received by the
       Administrative Agent from the Borrower or any other Obligor for
       distribution to the Lenders by the Administrative Agent in accordance
       with the terms of the Loan Documents. The Administrative Agent will
       distribute to each Lender copies of notices

                                      -87-
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       received by the Administrative Agent in its capacity as "Agent" under the
       Intercreditor Agreement.

SECTION 9.8. RELIANCE BY ADMINISTRATIVE AGENT. The Administrative Agent shall be
       entitled to rely upon any certification, notice or other communication
       (including any thereof by telephone, telecopy, telegram or cable)
       believed by it to be genuine and correct and to have been signed or sent
       by or on behalf of the proper Person, and upon advice and statements of
       legal counsel, independent accountants and other experts selected by the
       Administrative Agent. As to any matters not expressly provided for by the
       Loan Documents, the Administrative Agent shall in all cases be fully
       protected in acting, or in refraining from acting, thereunder in
       accordance with instructions given by the Required Lenders or all of the
       Lenders as is required in such circumstance, and such instructions of
       such Lenders and any action taken or failure to act pursuant thereto
       shall be binding on all Secured Parties. For purposes of applying amounts
       in accordance with this Section, the Administrative Agent shall be
       entitled to rely upon any Secured Party that has entered into a Rate
       Protection Agreement with any Obligor for a determination (which such
       Secured Party agrees to provide or cause to be provided upon request of
       the Administrative Agent) of the outstanding Obligations owed to such
       Secured Party under any Rate Protection Agreement. Unless it has actual
       knowledge evidenced by way of written notice from any such Secured Party
       and the Borrower to the contrary, the Administrative Agent, in acting in
       such capacity under the Loan Documents, shall be entitled to assume that
       no Rate Protection Agreements or Obligations in respect thereof are in
       existence or outstanding between any Secured Party and any Obligor.

SECTION 9.9. DEFAULTS. The Administrative Agent shall not be deemed to have
       knowledge or notice of the occurrence of a Default unless the
       Administrative Agent has received a written notice from a Lender or the
       Borrower specifying such Default and stating that such notice is a
       "Notice of Default". In the event that the Administrative Agent receives
       such a notice of the occurrence of a Default, the Administrative Agent
       shall give prompt notice thereof to the Lenders. The Administrative Agent
       shall (subject to SECTION 10.1) take such action with respect to such
       Default as shall be directed by the Required Lenders; PROVIDED, that
       unless and until the Administrative Agent shall have received such
       directions, the Administrative Agent may (but shall not be obligated to)
       take such action, or refrain from taking such action, with respect to
       such Default as it shall deem advisable in the best interest of the
       Secured Parties except to the extent that this Agreement expressly
       requires that such action be taken, or not be taken, only with the
       consent or upon the authorization of the Required Lenders or all Lenders.

SECTION 9.10. OTHER AGENTS. Each Person identified on the signature pages of
       this Agreement as the "Syndication Agent" or the "Documentation Agent"
       shall not have any right, power, obligation, liability, responsibility or
       duty under this Agreement (or any other Loan Document) other than those
       applicable to it in its capacity as a Lender to the extent it is a Lender
       hereunder. Without limiting the foregoing, the Lender so identified as
       the "Syndication Agent" or the "Documentation Agent" shall not have or be
       deemed to have any fiduciary relationship with any Lender. Each Person
       party hereto acknowledges that it has not relied, and will not rely, on
       any Person so identified as the "Syndication Agent" or the "Documentation
       Agent" in deciding to enter into this Agreement and each other

                                      -88-
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       Loan Document to which it is a party or in taking or not taking action
       hereunder or thereunder.

                                   ARTICLE X
                            MISCELLANEOUS PROVISIONS

SECTION 10.1. WAIVERS, AMENDMENTS, ETC. The provisions of each Loan Document may
       from time to time be amended, modified or waived, if such amendment,
       modification or waiver is in writing and consented to by the Borrower and
       the Required Lenders; PROVIDED, HOWEVER, that no such amendment,
       modification or waiver shall:

(a) modify this Section without the consent of all Lenders;

(b) increase the aggregate amount of any Credit Extensions required to be made
       by a Lender pursuant to its Commitments, extend the final Commitment
       Termination Date of Credit Extensions made (or participated in) by a
       Lender or extend the final Stated Maturity Date for any Lender's Loan, in
       each case without the consent of such Lender (it being agreed, however,
       that any vote to rescind any acceleration made pursuant to SECTION 8.2
       and SECTION 8.3 of amounts owing with respect to the Loans and other
       Obligations shall only require the vote of the Required Lenders);

(c) reduce the principal amount of or rate of interest on any Lender's Loan,
       reduce any fees payable to any Lender or extend the date on which
       interest or fees are payable in respect of such Lender's Loans, in each
       case without the consent of such Lender;

(d) reduce the percentage set forth in the definition of "Required Lenders" or
       modify any requirement hereunder that any particular action be taken by
       all Lenders without the consent of all Lenders;

(e) increase the Stated Amount of any Letter of Credit unless consented to by
       the Issuer of such Letter of Credit;

(f) except as otherwise expressly provided in a Loan Document, release (i) the
       Borrower from its Obligations under the Loan Documents or any Subsidiary
       Guarantor from its obligations under a Guaranty or (ii) all or a
       significant portion of the collateral under the Loan Documents, in each
       case without the consent of all Lenders;

(g) affect adversely the interests, rights or obligations of the Administrative
       Agent (in its capacity as the Administrative Agent) or any Issuer (in its
       capacity as Issuer) or the Swing Line Lender, unless consented to by the
       Administrative Agent or such Issuer, as the case may be; or

(h) change the definition of "Borrowing Base Amount", "Eligible Account",
       "Eligible Inventory" or "Net Asset Value" (in each case if the effect of
       such change would be to require a Lender to make or participate in a
       Credit Extension in an amount that is greater than such Lender would have
       had to make or participate in immediately prior to such change).

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No failure or delay on the part of any Secured Party in exercising any power or
right under any Loan Document shall operate as a waiver thereof, nor shall any
single or partial exercise of any such power or right preclude any other or
further exercise thereof or the exercise of any other power or right. No notice
to or demand on any Obligor in any case shall entitle it to any notice or demand
in similar or other circumstances. No waiver or approval by any Secured Party
under any Loan Document shall, except as may be otherwise stated in such waiver
or approval, be applicable to subsequent transactions. No waiver or approval
hereunder shall require any similar or dissimilar waiver or approval thereafter
to be granted hereunder.

SECTION 10.2. NOTICES; TIME. All notices and other communications provided under
       each Loan Document shall be in writing or by facsimile and addressed,
       delivered or transmitted, if to the Borrower or the Administrative Agent,
       at its address or facsimile number set forth below its signature in this
       Agreement, and if to a Lender or Issuer to the applicable Person at its
       address or facsimile number set forth on SCHEDULE II hereto or set forth
       in the Lender Assignment Agreement, or at such other address or facsimile
       number as may be designated by such party in a notice to the other
       parties. Any notice, if mailed and properly addressed with postage
       prepaid or if properly addressed and sent by pre-paid courier service,
       shall be deemed given when received; any notice, if transmitted by
       facsimile, shall be deemed given when the confirmation of transmission
       thereof is received by the transmitter. The parties hereto agree that
       delivery of an executed counterpart of a signature page to this Agreement
       and each other Loan Document by facsimile shall be effective as delivery
       of an original executed counterpart of this Agreement or such other Loan
       Document. Unless otherwise indicated, all references to the time of a day
       in a Loan Document shall refer to New York time.

SECTION 10.3. PAYMENT OF COSTS AND EXPENSES. The Borrower agrees to pay on
       demand all expenses of the Administrative Agent (including the fees and
       out-of-pocket expenses of Mayer, Brown, Rowe & Maw, counsel to the
       Administrative Agent and of local counsel, if any, who may be retained by
       or on behalf of the Administrative Agent) in connection with

(a) the negotiation, preparation, execution and delivery of each Loan Document,
       including schedules and exhibits, and any amendments, waivers, consents,
       supplements or other modifications to any Loan Document as may from time
       to time hereafter be required, whether or not the transactions
       contemplated hereby are consummated; and

(b) the filing or recording of any Loan Document (including the Filing
       Statements) and all amendments, supplements, amendment and restatements
       and other modifications to any thereof, searches made following the
       Effective Date in jurisdictions where Filing Statements (or other
       documents evidencing Liens in favor of the Secured Parties) have been
       recorded and any and all other documents or instruments of further
       assurance required to be filed or recorded by the terms of any Loan
       Document; and

(c) the preparation and review of the form of any document or instrument
       relevant to any Loan Document.

                                      -90-
<Page>

The Borrower further agrees to pay, and to save each Secured Party harmless from
all liability for any Other Taxes as provided in SECTION 4.6. The Borrower also
agrees to reimburse each Secured Party upon demand for all reasonable
out-of-pocket expenses (including reasonable attorneys' fees and legal expenses
of counsel to each Secured Party) incurred by such Secured Party in connection
with (x) the negotiation of any restructuring or "work-out" with the Borrower,
whether or not consummated, of any Obligations and (y) the enforcement of any
Obligations.

SECTION 10.4. INDEMNIFICATION. In consideration of the execution and delivery of
       this Agreement by each Secured Party, the Borrower hereby indemnifies,
       exonerates and holds each Secured Party and each of their respective
       officers, directors, employees and agents (collectively, the "INDEMNIFIED
       PARTIES") free and harmless from and against any and all actions, causes
       of action, suits, losses, costs, liabilities and damages, and expenses
       incurred in connection therewith (irrespective of whether any such
       Indemnified Party is a party to the action for which indemnification
       hereunder is sought), including reasonable attorneys' fees and
       disbursements, whether incurred in connection with actions between or
       among the parties hereto or the parties hereto and third parties
       (collectively, the "INDEMNIFIED LIABILITIES"), incurred by the
       Indemnified Parties or any of them as a result of, or arising out of, or
       relating to

(a) any transaction financed or to be financed in whole or in part, directly or
       indirectly, with the proceeds of any Credit Extension;

(b) the entering into and performance of any Loan Document by any of the
       Indemnified Parties (including any action brought by or on behalf of the
       Borrower as the result of any determination by the Required Lenders
       pursuant to ARTICLE V not to fund any Credit Extension, provided that any
       such action is resolved in favor of such Indemnified Party);

(c) any investigation, litigation or proceeding related to any acquisition or
       proposed acquisition by any Obligor or any Subsidiary thereof of all or
       any portion of the Capital Securities or assets of any Person, whether or
       not an Indemnified Party is party thereto;

(d) any investigation, litigation or proceeding related to any environmental
       cleanup, audit, compliance or other matter relating to the protection of
       the environment or the Release by any Obligor or any Subsidiary thereof
       of any Hazardous Material;

(e) the presence on or under, or the Release from, any real property owned or
       operated by any Obligor or any Subsidiary thereof of any Hazardous
       Material (including any losses, liabilities, damages, injuries, costs,
       expenses or claims asserted or arising under any Environmental Law),
       regardless of whether caused by, or within the control of, such Obligor
       or Subsidiary; or

(f) each Lender's Environmental Liability (the indemnification herein shall
       survive repayment of the Obligations and any transfer of the property of
       any Obligor or its Subsidiaries by foreclosure or by a deed in lieu of
       foreclosure for any Lender's Environmental Liability, regardless of
       whether caused by, or within the control of, such Obligor or such
       Subsidiary);

                                      -91-
<Page>

       except for Indemnified Liabilities arising for the account of a
       particular Indemnified Party by reason of the relevant Indemnified
       Party's gross negligence or wilful misconduct. Each Obligor and its
       successors and assigns hereby waive, release and agree not to make any
       claim or bring any cost recovery action against, any Indemnified Party
       under CERCLA or any state equivalent, or any similar law now existing or
       hereafter enacted. It is expressly understood and agreed that to the
       extent that any Indemnified Party is strictly liable under any
       Environmental Laws, each Obligor's obligation to such Indemnified Party
       under this indemnity shall likewise be without regard to fault on the
       part of any Obligor with respect to the violation or condition which
       results in liability of an Indemnified Party. If and to the extent that
       the foregoing undertaking may be unenforceable for any reason, each
       Obligor agrees to make the maximum contribution to the payment and
       satisfaction of each of the Indemnified Liabilities which is permissible
       under applicable law.

SECTION 10.5. SURVIVAL. The obligations of the Borrower under SECTIONS 4.3, 4.4,
       4.5, 4.6, 10.3 and 10.4, and the obligations of the Lenders under SECTION
       9.1, shall in each case survive any assignment from one Lender to another
       (in the case of SECTIONS 10.3 and 10.4) and the occurrence of the
       Termination Date. The representations and warranties made by each Obligor
       in each Loan Document shall survive the execution and delivery of such
       Loan Document.

SECTION 10.6. SEVERABILITY. Any provision of any Loan Document which is
       prohibited or unenforceable in any jurisdiction shall, as to such
       provision and such jurisdiction, be ineffective to the extent of such
       prohibition or unenforceability without invalidating the remaining
       provisions of such Loan Document or affecting the validity or
       enforceability of such provision in any other jurisdiction.

SECTION 10.7. HEADINGS. The various headings of each Loan Document are inserted
       for convenience only and shall not affect the meaning or interpretation
       of such Loan Document or any provisions thereof.

SECTION 10.8. EXECUTION IN COUNTERPARTS, EFFECTIVENESS, ETC. This Agreement may
       be executed by the parties hereto in several counterparts, each of which
       shall be an original and all of which shall constitute together but one
       and the same agreement. This Agreement shall become effective when
       counterparts hereof executed on behalf of the Borrower, the
       Administrative Agent and each Lender (or notice thereof satisfactory to
       the Administrative Agent), shall have been received by the Administrative
       Agent.

SECTION 10.9. GOVERNING LAW; ENTIRE AGREEMENT. EACH LOAN DOCUMENT (OTHER THAN
       THE LETTERS OF CREDIT, TO THE EXTENT SPECIFIED BELOW AND EXCEPT AS
       OTHERWISE EXPRESSLY SET FORTH IN A LOAN DOCUMENT) WILL EACH BE DEEMED TO
       BE A CONTRACT MADE UNDER AND GOVERNED BY THE INTERNAL LAWS OF THE STATE
       OF NEW YORK (INCLUDING FOR SUCH PURPOSE SECTIONS 5-1401 AND 5-1402 OF THE
       GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK). EACH LETTER OF CREDIT
       SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OR RULES
       DESIGNATED IN SUCH LETTER OF CREDIT, OR IF NO LAWS OR RULES ARE
       DESIGNATED, THE

                                      -92-
<Page>

       INTERNATIONAL STANDBY PRACTICES (ISP98 - INTERNATIONAL CHAMBER OF
       COMMERCE PUBLICATION NUMBER 590 (THE "ISP RULES")) AND, AS TO MATTERS NOT
       GOVERNED BY THE ISP RULES, THE INTERNAL LAWS OF THE STATE OF NEW YORK.
       The Loan Documents constitute the entire understanding among the parties
       hereto with respect to the subject matter thereof and supersede any prior
       agreements, written or oral, with respect thereto.

SECTION 10.10. SUCCESSORS AND ASSIGNS. This Agreement shall be binding upon and
       shall inure to the benefit of the parties hereto and their respective
       successors and assigns; PROVIDED, HOWEVER, that the Borrower may not
       assign or transfer its rights or obligations hereunder without the
       consent of all Lenders.

SECTION 10.11. SALE AND TRANSFER OF CREDIT EXTENSIONS; PARTICIPATIONS IN CREDIT
       EXTENSIONS AND NOTES. Each Lender may assign, or sell participations in,
       its Loans, Letters of Credit and Commitments to one or more other Persons
       in accordance with this the terms set forth below.

SECTION 10.11.1. ASSIGNMENTS. Any Lender, pursuant to a Lender Assignment
       Agreement,

(a) with the consent of the Borrower, the Administrative Agent, the Issuer (if
       different) and the Swing Line Lender (if different) (which consents shall
       not be unreasonably delayed or withheld and, which consent, in the case
       of the Borrower, shall not be required during the continuation of an
       Event of Default; PROVIDED, HOWEVER, that the Administrative Agent, the
       Borrower, the Issuer and the Swing Line Lender may withhold such consent
       in their sole discretion to an assignment to a Person not satisfying the
       credit ratings set forth in CLAUSE (f)) may at any time assign and
       delegate to one or more commercial banks or other financial institutions;
       and

(b) upon notice to the Borrower, the Administrative Agent, the Issuer and the
       Swing Line Lender, upon the Administrative Agent's acknowledgment on a
       Lender Assignment Agreement, may assign and delegate to any of its
       Affiliates or to any other Lender;

(each Person described in either of the foregoing clauses as being the Person to
whom such assignment and delegation is to be made, being hereinafter referred to
as an "ASSIGNEE LENDER"), all or any fraction of such Lender's Loans, Letter of
Credit Outstandings and Commitments in a minimum aggregate amount of $2,500,000
(or, if less, the entire remaining amount of such Lender's Loans, Letter of
Credit Outstandings and Commitments). Each Obligor and the Administrative Agent
shall be entitled to continue to deal solely and directly with a Lender in
connection with the interests so assigned and delegated to an Assignee Lender
until

(c) notice of such assignment and delegation, together with (i) payment
       instructions, (ii) the Internal Revenue Service forms or other statements
       contemplated or required to be delivered pursuant to SECTION 4.6, if
       applicable, and (iii) addresses and related information with respect to
       such Assignee Lender, shall have been delivered to the Borrower and the
       Administrative Agent by such assignor Lender and such Assignee Lender;

                                      -93-
<Page>

(d) such Assignee Lender shall have executed and delivered to the Borrower and
       the Administrative Agent a Lender Assignment Agreement, accepted by the
       Administrative Agent; and

(e) the processing fees described below shall have been paid.

From and after the date that the Administrative Agent accepts such Lender
Assignment Agreement and such assignment is registered with Register pursuant to
CLAUSE (b) of SECTION 2.7, (x) the Assignee Lender thereunder shall be deemed
automatically to have become a party hereto and to the extent that rights and
obligations hereunder have been assigned and delegated to such Assignee Lender
in connection with such Lender Assignment Agreement, shall have the rights and
obligations of a Lender under the Loan Documents, and (y) the assignor Lender,
to the extent that rights and obligations hereunder have been assigned and
delegated by it in connection with such Lender Assignment Agreement, shall be
released from its obligations hereunder and under the other Loan Documents.
Within five Business Days after its receipt of notice that the Administrative
Agent has received and accepted an executed Lender Assignment Agreement (and if
requested by the Assignee Lender), but subject to CLAUSE (c), the Borrower shall
execute and deliver to the Administrative Agent (for delivery to the relevant
Assignee Lender) a new Note evidencing such Assignee Lender's assigned Loans and
Commitments and, if the assignor Lender has retained Loans and Commitments
hereunder (and if requested by such Lender), a replacement Note in the principal
amount of the Loans and Commitments retained by the assignor Lender hereunder
(such Note to be in exchange for, but not in payment of, the Note then held by
such assignor Lender). Each such Note shall be dated the date of the predecessor
Note. The assignor Lender shall mark each predecessor Note "exchanged" and
deliver each of them to the Borrower. Accrued interest on that part of each
predecessor Note evidenced by a new Note, and accrued fees, shall be paid as
provided in the Lender Assignment Agreement. Accrued interest on that part of
each predecessor Note evidenced by a replacement Note shall be paid to the
assignor Lender. Accrued interest and accrued fees shall be paid at the same
time or times provided in the predecessor Note and in this Agreement. Such
assignor Lender or such Assignee Lender must also pay a processing fee in the
amount of $3,500 to the Administrative Agent upon delivery of any Lender
Assignment Agreement. Notwithstanding any other term of this Section, the
agreement of Scotia Capital to provide the Swing Line Loan Commitment shall not
impair or otherwise restrict in any manner the ability of Scotia Capital to make
any assignment of its Loans or Commitments, it being understood and agreed that
Scotia Capital may terminate its Swing Line Loan Commitment, either in whole or
in part, in connection with the making of any assignment. Any attempted
assignment and delegation not made in accordance with this Section shall be null
and void. Notwithstanding anything to the contrary set forth above, any Lender
may (without requesting the consent of the Borrower or the Administrative Agent)
pledge its Loans to a Federal Reserve Bank in support of borrowings made by such
Lender from such Federal Reserve Bank.

(f)  In the event that S&P or Moody's, shall, after the date that any Person
       becomes a Lender, downgrade the long-term certificate of deposit ratings
       of such Lender, and the resulting ratings shall be below BBB- or Baa3,
       respectively, or the equivalent, then the Borrower, the Swing Line Lender
       and each Issuer shall each have the right, but not the obligation, upon
       notice to such Lender and the Administrative Agent, to replace such
       Lender with a financial institution (a "REPLACEMENT LENDER") acceptable
       to the Borrower, the

                                      -94-
<Page>

       Administrative Agent, the Issuer and the Swing Line Lender (such consents
       not to be unreasonably withheld or delayed; PROVIDED, that no such
       consent shall be required if the Replacement Lender is an existing
       Lender), and upon any such downgrading of any Lender's long-term
       certificate of deposit rating, each such Lender hereby agrees to transfer
       and assign (in accordance with SECTION 10.11.1) all of its Commitments
       and other rights and obligations under the Loan Documents (including
       Reimbursement Obligations) to such Replacement Lender; PROVIDED, HOWEVER,
       that (i) such assignment shall be without recourse, representation or
       warranty (other than that such Lender owns the Commitments, Loans and
       Notes being assigned, free and clear of any Liens) and (ii) the purchase
       price paid by the Replacement Lender shall be in the amount of such
       Lender's Loans and its Percentage of outstanding Reimbursement
       Obligations, together with all accrued and unpaid interest and fees in
       respect thereof, plus all other amounts (other than the amounts (if any)
       demanded and unreimbursed under SECTIONS 4.2, 4.3, 4.5 and 4.6, which
       shall be paid by the Borrower), owing to such Lender hereunder. Upon any
       such termination or assignment, such Lender shall cease to be a party
       hereto but shall continue to be entitled to the benefits of any
       provisions of this Agreement which by their terms survive the termination
       of this Agreement.

SECTION 10.11.2. PARTICIPATIONS. Any Lender may sell to one or more commercial
       banks or other Persons (each of such commercial banks and other Persons
       being herein called a "PARTICIPANT") participating interests in any of
       the Loans, Commitments, or other interests of such Lender hereunder;
       PROVIDED, HOWEVER, that

(a) no participation contemplated in this Section shall relieve such Lender
       from its Commitments or its other obligations under any Loan Document;

(b) such Lender shall remain solely responsible for the performance of its
       Commitments and such other obligations;

(c) each Obligor and the Administrative Agent shall continue to deal solely and
       directly with such Lender in connection with such Lender's rights and
       obligations under each Loan Document;

(d) no Participant, unless such Participant is an Affiliate of such Lender or
       is itself a Lender, shall be entitled to require such Lender to take or
       refrain from taking any action under any Loan Document, except that such
       Lender may agree with any Participant that such Lender will not, without
       such Participant's consent, take any actions of the type described in
       CLAUSES (a), (b), (c) or (f) of SECTION 10.1 with respect to Obligations
       participated in by such Participant;

(e) the Borrower shall not be required to pay any amount under this Agreement
       that is greater than the amount which it would have been required to pay
       had no participating interest been sold; and

(f) such Lender that sells a participating interest in any Loan, Commitment or
       other interest to a Participant shall, as agent of the Borrower solely
       for the purpose of this Section, record in

                                      -95-
<Page>

       book entries maintained by such Lender the name of its Participants and
       the amount such Participants are entitled to receive in respect of any
       participating interests.

The Borrower acknowledges and agrees that each Participant, for purposes of
SECTIONS 4.3, 4.4, 4.5, 4.6, 4.8, 4.9 and 7.1.1, shall be considered a Lender.
The Borrower acknowledges and agrees that, for purposes of its obligations under
SECTIONS 10.3 and 10.4, it will not assert that any Lender be entitled to less
than would otherwise be payable to such Lender under such Sections, solely as a
result of a Participant reimbursing such Lender for amounts paid by such Lender.
Each Participant shall only be indemnified for increased costs pursuant to
SECTION 4.3, 4.5 or 4.6 if and to the extent that the Lender which sold such
participating interest to such Participant concurrently is entitled to make, and
does make, a claim on the Borrower for such increased costs. Any Lender that
sells a participating interest in any Loan, Commitment or other interest to a
Participant under this Section shall indemnify and hold harmless the Borrower
and the Administrative Agent from and against any Taxes, penalties, interest or
other costs or losses (including reasonable attorneys' fees and expenses)
incurred or payable by the Borrower or the Administrative Agent as a result of
the failure of the Borrower or the Administrative Agent to comply with its
obligations to deduct or withhold any Taxes from any payments made pursuant to
this Agreement to such Lender or the Administrative Agent, as the case may be,
which Taxes would not have been incurred or payable if such Participant had been
a Non-U.S. Lender that was entitled to deliver to the Borrower, the
Administrative Agent or such Lender, and did in fact so deliver, a duly
completed and valid Internal Revenue Service Form W-8BEN or W-8ECI (or
applicable successor form) entitling such Participant to receive payments under
this Agreement without deduction or withholding of any United States federal
Taxes.

SECTION 10.12. OTHER TRANSACTIONS. Nothing contained herein shall preclude the
       Administrative Agent, any Issuer or any other Lender from engaging in any
       transaction, in addition to those contemplated by the Loan Documents,
       with the Borrower or any of its Affiliates in which the Borrower or such
       Affiliate is not restricted hereby from engaging with any other Person.

SECTION 10.13. FORUM SELECTION AND CONSENT TO JURISDICTION. ANY LITIGATION BASED
       HEREON, OR ARISING OUT OF, UNDER, OR IN CONNECTION WITH, ANY LOAN
       DOCUMENT, OR ANY COURSE OF CONDUCT, COURSE OF DEALING, STATEMENTS
       (WHETHER ORAL OR WRITTEN) OR ACTIONS OF THE ADMINISTRATIVE AGENT, THE
       LENDERS, ANY ISSUER OR THE BORROWER IN CONNECTION HEREWITH OR THEREWITH
       MAY BE BROUGHT AND MAINTAINED IN THE COURTS OF THE STATE OF NEW YORK OR
       IN THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW
       YORK; PROVIDED, HOWEVER, THAT ANY SUIT SEEKING ENFORCEMENT AGAINST ANY
       COLLATERAL OR OTHER PROPERTY MAY BE BROUGHT, AT THE ADMINISTRATIVE
       AGENT'S OPTION, IN THE COURTS OF ANY JURISDICTION WHERE SUCH COLLATERAL
       OR OTHER PROPERTY MAY BE FOUND. THE BORROWER IRREVOCABLY CONSENTS TO THE
       SERVICE OF PROCESS BY REGISTERED MAIL, POSTAGE PREPAID, OR BY PERSONAL
       SERVICE WITHIN OR WITHOUT THE STATE OF NEW YORK AT THE ADDRESS FOR
       NOTICES SPECIFIED IN SECTION 10.2. THE BORROWER HEREBY

                                      -96-
<Page>

       EXPRESSLY AND IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW,
       ANY OBJECTION WHICH IT MAY HAVE OR HEREAFTER MAY HAVE TO THE LAYING OF
       VENUE OF ANY SUCH LITIGATION BROUGHT IN ANY SUCH COURT REFERRED TO ABOVE
       AND ANY CLAIM THAT ANY SUCH LITIGATION HAS BEEN BROUGHT IN AN
       INCONVENIENT FORUM. TO THE EXTENT THAT THE BORROWER HAS OR HEREAFTER MAY
       ACQUIRE ANY IMMUNITY FROM JURISDICTION OF ANY COURT OR FROM ANY LEGAL
       PROCESS (WHETHER THROUGH SERVICE OR NOTICE, ATTACHMENT PRIOR TO JUDGMENT,
       ATTACHMENT IN AID OF EXECUTION OR OTHERWISE) WITH RESPECT TO ITSELF OR
       ITS PROPERTY, THE BORROWER HEREBY IRREVOCABLY WAIVES TO THE FULLEST
       EXTENT PERMITTED BY LAW SUCH IMMUNITY IN RESPECT OF ITS OBLIGATIONS UNDER
       THE LOAN DOCUMENTS.

SECTION 10.14. WAIVER OF JURY TRIAL. THE ADMINISTRATIVE AGENT, EACH LENDER, EACH
       ISSUER AND THE BORROWER HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY
       WAIVE TO THE FULLEST EXTENT PERMITTED BY LAW ANY RIGHTS THEY MAY HAVE TO
       A TRIAL BY JURY IN RESPECT OF ANY LITIGATION BASED HEREON, OR ARISING OUT
       OF, UNDER, OR IN CONNECTION WITH, EACH LOAN DOCUMENT, OR ANY COURSE OF
       CONDUCT, COURSE OF DEALING, STATEMENTS (WHETHER ORAL OR WRITTEN) OR
       ACTIONS OF THE ADMINISTRATIVE AGENT, SUCH LENDER, SUCH ISSUER OR THE
       BORROWER IN CONNECTION THEREWITH. THE BORROWER ACKNOWLEDGES AND AGREES
       THAT IT HAS RECEIVED FULL AND SUFFICIENT CONSIDERATION FOR THIS PROVISION
       (AND EACH OTHER PROVISION OF EACH OTHER LOAN DOCUMENT TO WHICH IT IS A
       PARTY) AND THAT THIS PROVISION IS A MATERIAL INDUCEMENT FOR THE
       ADMINISTRATIVE AGENT, EACH LENDER AND EACH ISSUER ENTERING INTO THE LOAN
       DOCUMENTS.

                                      -97-
<Page>

     IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
executed by their respective officers thereunto duly authorized as of the day
and year first above written.

                                     AMERICAN ACHIEVEMENT CORPORATION

                                     By:       /s/ Sherice P. Bench
                                         ---------------------------------------
                                        Title:  Chief Financial Officer

                                     Address:

                                     Facsimile No.:

                                     Attention:

                                     THE BANK OF NOVA SCOTIA,
                                     as the Administrative Agent and as a Lender

                                     By:       /s/ Jerome Noto
                                         ---------------------------------------
                                        Title: Director

                                     Address:        One Liberty Plaza
                                                     New York, New York 10006

                                     Facsimile No.:  (212) 225-5090

                                     Attention:

                                     GENERAL ELECTRIC CAPITAL
                                     CORPORATION,
                                     as the Syndication Agent and as a Lender

                                     By:
                                         ---------------------------------------
                                        Title:   Senior Vice President

                                     Address:  305 Madison Avenue
                                               New York, New York  10017
                                     Facsimile No.: 212-309-8983

                                     Attention:

<Page>

                                     BANKERS TRUST COMPANY,
                                     as the Documentation Agent and as a Lender

                                     By:    /s/ Mary Kay Coyle
                                         ---------------------------------------
                                        Title:  Managing Director

                                     Address:

                                     Facsimile No.:

                                     Attention:

<Page>

                                                                      SCHEDULE I

                     DISCLOSURE SCHEDULE TO CREDIT AGREEMENT

ITEM 6.1(a) Organization and Powers.

ITEM 6.1(b) Capitalization.

ITEM 6.1(d) Qualification.

ITEM 6.4 Intellectual Property.

ITEM 6.7 Litigation.

ITEM 6.10 Environmental Matters.

ITEM 6.15 Investigations, Audits, etc.

ITEM 6.16 Employment Matters.

ITEM 7.1.3 Maintenance of Properties; Insurance.

ITEM 7.2.1 Conduct of Business. ITEM 7.2.2(h) Indebtedness to be Paid.

      CREDITOR                                      OUTSTANDING PRINCIPAL AMOUNT

ITEM 7.2.3(j) Ongoing Liens.

ITEM 7.2.5(k) Ongoing Investments.

ITEM 7.2.8(c) Existing Contingent Liabilities

ITEM 7.2.13   Management Fees

<Page>

                               DISCLOSURE SCHEDULE

                                   ITEM 6.1(a)

                          JURISDICTION OF ORGANIZATION

1.   American Achievement Corporation (f/k/a Commemorative
     Brands Holding Corp.)                                           Delaware

2.   Educational Communications, Inc.                                Illinois

3.   Commemorative Brands, Inc.                                      Delaware

4.   TP Holding Corp. (f/k/a TP Acquisition Corp.)                   Delaware

5.   Taylor Publishing Company                                       Delaware

6.   Taylor Production Services Company (L.P.)                       Delaware

7.   Taylor Senior Holding Corp.                                     Delaware

8.   CBI North America, Inc.                                         Delaware

<Page>

                               DISCLOSURE SCHEDULE

                                   ITEM 6.1(b)

                                 CAPITALIZATION

<Table>
<Caption>
        Entity                         Authorized Equity         Issued and Outstanding    Owner
============================================================================================================
<S>     <C>                            <C>                       <C>                       <C>
1.      American Achievement           1,250,000 shares of       1,006,847 shares          See attached
        Corporation                    Preferred Stock, par      Preferred Stock           capitalization
                                       value $.01 per share                                table.
                                       (American Achievement     809,351 shares of
                                       Corporation Preferred     Common Stock
                                       Stock), of which
                                       1,200,000 shares have     Warrants to purchase      Warrants to
                                       been designated as        21,405 shares of Common   purchase 1,585
                                       Series A Preferred        Stock at an exercise      shares of Common
                                       Stock ($.01 par           price of $6.67 per        Stock are held
                                       value).  (The 25,000      share.  The Warrants      by Deutsche Bank
                                       shares that were          expire on January 31,     Securities, Inc.
                                       designated as Series      2008 and if exercised     Warrants to
                                       Preferred Stock ($.01     in full represent less    purchase 19,820
                                       par value) were           than 1.2% of the Common   shares of Common
                                       canceled on December      Stock on a fully          Stock are held
                                       19, 2001.)                diluted basis.            by CHP III.

                                       1,250,000 shares of
                                       common stock, par value
                                       $.01 per share
                                       (American Achievement
                                       Corporation Common
                                       Stock)
------------------------------------------------------------------------------------------------------------
2.      Taylor Senior Holding Corp.    1,000 shares of           1,000 Shares of Taylor    American
                                       Preferred Stock, par      Preferred Stock           Achievement
                                       value $.01 per share                                Corporation
                                       ("Taylor Preferred        1,000 Shares of Taylor
                                       Stock")                   Common Stock

                                       1,000 shares of Common
                                       Stock, par value $.01
                                       per share ("Taylor
                                       Common Stock")
------------------------------------------------------------------------------------------------------------
</Table>

<Page>

<Table>
<Caption>
        Entity                         Authorized Equity         Issued and Outstanding    Owner
============================================================================================================
<S>     <C>                            <C>                       <C>                       <C>
3.      Taylor Holding Co.             50,000 shares of          30,000 shares of Taylor   Taylor Senior
                                       Preferred Stock, par      Holding Co. Preferred     Holding Corp.
                                       value $.01 per share      Stock
                                       ("Taylor Holding Co.
                                       Preferred Stock")

                                       50,000 shares of Common   30,000 shares of Taylor
                                       Stock, par value $.01     Holding Co. Common Stock
                                       per share (Taylor
                                       Holding Co. Common
                                       Stock")
------------------------------------------------------------------------------------------------------------
4.      Taylor General Partner         1000 shares of common     10 shares                 Taylor Holding
                                       stock, par value $1.00                              Co.
                                       per share
------------------------------------------------------------------------------------------------------------
5.      Taylor                                                   99% General Partnership   Taylor General
                                                                 Interest                  Partner (99% GP
                                                                                           interest)

                                                                 1% Limited Partnership    Taylor Holding
                                                                 Interest                  Co. (1% LP
                                                                                           interest)
------------------------------------------------------------------------------------------------------------
6.      CBI                            750,000 shares of         100,000 shares of         CHP III (Series
                                       preferred stock, $.01     Series A Preferred        A shares)
                                       par value

                                       750,000 shares of         460,985 shares of         American
                                       common stock, par value   Series B Preferred        Achievement
                                       $.01 per share.                                     Corporation
                                                                 375,985 shares of         (Series B and
                                                                 common stock              common shares)
------------------------------------------------------------------------------------------------------------
7.      CBI North America, Inc.        3,000 shares of common    1,000 shares              CBI
                                       stock, par value $.01
                                       per share
------------------------------------------------------------------------------------------------------------
8.      ECI                            1,000 shares of common    1,000 shares              American
                                       stock, no par value                                 Achievement
                                                                                           Corporation
</Table>

<Page>

                               DISCLOSURE SCHEDULE

                                   ITEM 6.1(D)

                                  QUALIFICATION

<Table>
<Caption>
          ENTITY                                                     JURISDICTIONS
<S>       <C>                                                        <C>                      <C>
1.        Educational Communications, Inc.                           Illinois
2.        American Achievement Corporation                           None
3.        Taylor Senior Holding Corp.                                None
4.        TP Holding Corp.                                           None
5.        Taylor Publishing Company                                  California               Pennsylvania
                                                                     Colorado                 Rhode Island
                                                                     Connecticut              Texas
                                                                     Delaware                 Utah
                                                                     Georgia                  Vermont
                                                                     Indiana                  Wisconsin
                                                                     Maine                    Washington DC
                                                                     Maryland
                                                                     Michigan
                                                                     Minnesota
                                                                     Nebraska
                                                                     New Jersey
                                                                     North Carolina
                                                                     Oklahoma
6.        Taylor Production Services Company, L.P.                   Pennsylvania
                                                                     Texas
7.        CBI North America, Inc.                                    Wisconsin
                                                                     Texas
8.        Commemorative Brands, Inc.                                 Arkansas                 Alabama
                                                                     California               Arizona
                                                                     Colorado                 Washington D.C.
                                                                     Connecticut              Illinois
                                                                     Florida                  Hawaii
                                                                     Georgia                  New Mexico
                                                                     Idaho                    Alaska
                                                                     Indiana                  New Hampshire
                                                                     Iowa                     Delaware
                                                                     Kansas
                                                                     Kentucky
                                                                     Louisiana
</Table>

<Page>

<Table>
<Caption>
                                                                     JURISDICTIONS
                                                                     -------------
<S>                                                                  <C>
                                                                     Maine
                                                                     Maryland
                                                                     Michigan
                                                                     Minnesota
                                                                     Mississippi
                                                                     Missouri
                                                                     Montana
                                                                     Nebraska
                                                                     Nevada
                                                                     New Jersey
                                                                     New York
                                                                     North Carolina
                                                                     North Dakota
                                                                     Ohio
                                                                     Oklahoma
                                                                     Oregon
                                                                     Pennsylvania
                                                                     Rhode Island
                                                                     South Carolina
                                                                     South Dakota
                                                                     Tennessee
                                                                     Texas
                                                                     Utah
                                                                     Vermont
                                                                     Virginia
                                                                     Washington
                                                                     West Virginia
                                                                     Wisconsin
                                                                     Wyoming
</Table>

<Page>

                               DISCLOSURE SCHEDULE

                                   ITEM 6.4(a)

                              INTELLECTUAL PROPERTY

          TAYLOR PUBLISHING COMPANY

          1. The software development agreement dated as of April 2, 1996
between Brian Stewart and Taylor General Partner provides: "If this agreement is
terminated by [Taylor General Partner] for any reason other than for cause,
ownership of the software shall be assigned by [Taylor General Partner] to the
Developer, eighteen (18) months after termination of this agreement." In Taylor
General Partner's opinion, Taylor General Partner terminated this agreement for
cause. Mr. Stewart did not complete the development of the Software in a form
and having capabilities acceptable to Taylor General Partner by April 30, 1996.
The Existing Borrowers currently have possession of the software developed by
Mr. Stewart but have no present plans to use it in their business, and in the
Existing Borrowers' opinion, it is not material to their business.

          2. Vision 2000 includes code that is generated by or comprises a part
of toolkits designed for and licensed for such purposes ("toolkit code"). The
shrinkwrap licenses granting permission to Taylor General Partner to license
toolkit code with Vision 2000 have some provisions that may require updating of
Taylor General Partner's shrinkwrap licenses and documentation to fully comply
with the provisions of the toolkit shrinkwrap licenses. In addition, future
versions of the Vision 2000 product may or may not require the purchase of
additional licenses from at least some of the toolkit licensors.

          3. Taylor General Partner is unaware whether any employees who worked
on the Ultravision software executed any written agreement with Taylor General
Partner. To Taylor General Partner's knowledge, and except where not material,
all authors (within the meaning of the copyright laws of the United States) of
the Ultravision software were employees (within the meaning of the copyright
laws of the United States) of Taylor General Partner.

          4. Various copyright registrations relating to works in Taylor General
Partner's specialty publishing business may be partially owned by the author or
authors of particular works. In addition, as to various of these copyright
registrations, rights may have reverted to the author or authors or particular
works or some authors may be entitled to have rights reverted that have not yet
been reverted. To Taylor General Partner's knowledge and except where not
material, Taylor General Partner either owns copyrights or has been granted
permission by the owner of the copyrights to publish and sell the books (1) that
have been published and sold in the last three years and/or (2) that are
currently being published and sold.

          5. Taylor General Partner and Taylor are aware of other businesses
having the words "Taylor Publishing" in their name. To Taylor General Partner's
and Taylor's knowledge, none of these businesses publish school yearbooks
competitively with, or of the general kind published by, Taylor General Partner
or Taylor.

<Page>

          EDUCATIONAL COMMUNICATIONS, INC.

          1. Pursuant to an Oral Agreement entered into in 1997, between Kyle
Bolstad (a recent college graduate, whose address was 345 Sherman Avenue,
Evanston, IL 60602) and ECI relating to the initial development of ECI's
website, ECI was provided with source code relating to the developed software.
Mr. Bolstad has ceased performing his obligations in accordance with that
certain Oral Agreement entered into in 1997, between Kyle Bolstad and ECI
relating to initial development of ECI's website. Thereafter, ECI engaged Azavar
Technologies Corporation to modify its website. Accordingly, since no formal
written assignment of ownership has been executed, ECI does not possess clear
title to the initial code written by Mr. Bolstad, but instead claims ownership
to it as a "work for hire" under the U.S. Copyright Act.

          2. ECI republishes in certain of the biographical directories it
publishes, photographs provided to it by its customers. Since no formal written
agreements have been entered into with such persons authorizing ECI to reproduce
their likeness, these persons could request ECI to remove such photographs from
such biographical directories.

          3. In connection with litigation brought in 1999 in the District Court
for the Western District of Missouri by NRCCUA and Student Research, Inc.
against Educational Research Center of America, Inc. ("ERCA"), certain Business
Trade Secrets relating to ECI's relationship with NRCCUA, American Student
List Company, Inc. and Student Research, Inc., and the mechanisms employed by,
ECI, NRCCUA, American Student List Company, Inc. and Student Research, Inc. were
disclosed.

<Page>

                               DISCLOSURE SCHEDULE

                                   ITEM 6.4(B)

                         INTELLECTUAL PROPERTY OWNERSHIP

<Table>
<Caption>
OBLIGOR      PATENTS:                                 DESCRIPTION:
-------------------------------------------------------------------------------------------------
<S>          <C>                          <C>         <C>
Taylor       U.S. Patent No.              5,293,475   Electronic Yearbook Publication System
-------------------------------------------------------------------------------------------------
Taylor       U.S. Patent No.              5,428,777   Automated Indexing and Spell Checking of
                                                      Yearbooks
-------------------------------------------------------------------------------------------------
CBI          U.S. Patent No.              387,300     Carousel Pin/Pendant
-------------------------------------------------------------------------------------------------
CBI          U.S. Patent No.              372,681     Finger Ring
-------------------------------------------------------------------------------------------------
CBI          U.S. Patent No.              300,308     Class Ring
-------------------------------------------------------------------------------------------------
CBI          U.S. Patent No.              327,660     Finger Ring
-------------------------------------------------------------------------------------------------
CBI          U.S. Patent No.              322,587     Finger Ring
-------------------------------------------------------------------------------------------------
CBI          U.S. Patent No.              321,840     Finger Ring
-------------------------------------------------------------------------------------------------
CBI          U.S. Patent No.              300,126     Class Ring
-------------------------------------------------------------------------------------------------
CBI          U.S. Patent No.              382,831     Finger Ring
-------------------------------------------------------------------------------------------------
CBI          U.S. Patent No.              396,659     Finger Ring
-------------------------------------------------------------------------------------------------
CBI          U.S. Patent No.              393,811     Finger Ring
-------------------------------------------------------------------------------------------------
CBI          U.S. Patent No.              390,801     Finger Ring
-------------------------------------------------------------------------------------------------
CBI          U.S. Patent No.              389,774     Finger Ring
-------------------------------------------------------------------------------------------------
CBI          U.S. Patent No.              384,903     Six Stone Diagonal Ribbon Necklace Pendant
-------------------------------------------------------------------------------------------------
CBI          U.S. Patent No.              392,204     Five Stone Diagonal Ribbon Necklace Pendant
-------------------------------------------------------------------------------------------------
CBI          U.S. Patent No.              389,770     Four Stone Diagonal Ribbon Necklace Pendant
-------------------------------------------------------------------------------------------------
CBI          U.S. Patent No.              386,441     Three Stone Diagonal Ribbon Necklace Pendant
-------------------------------------------------------------------------------------------------
CBI          U.S. Patent No.              389,769     Two Stone Diagonal Ribbon Necklace Pendant
-------------------------------------------------------------------------------------------------
CBI          U.S. Patent No.              392,587     Finger Ring (Swirl Ribbon)
-------------------------------------------------------------------------------------------------
CBI          U.S. Patent No.              423,977     Finger Ring
-------------------------------------------------------------------------------------------------
CBI          U.S. Patent No.              396,822     Finger Ring
</Table>

<Page>

<Table>
<Caption>
OBLIGOR      PATENTS:                                 DESCRIPTION:
-------------------------------------------------------------------------------------------------
<S>          <C>                          <C>         <C>
CBI          U.S. Patent No.              393,225     Finger Ring
-------------------------------------------------------------------------------------------------
CBI          U.S. Patent No.              383,704     Angel Pendant
-------------------------------------------------------------------------------------------------
CBI          U.S. Patent No.              389,771     Rope Chain Pendant
-------------------------------------------------------------------------------------------------
CBI          U.S. Patent No.              393,428     Tennis Bracelet Pendant
-------------------------------------------------------------------------------------------------
CBI          U.S. Patent No.              288,155     Jewelry Display Stand
-------------------------------------------------------------------------------------------------
CBI          U.S. Patent No.              272,806     Packaging Container
-------------------------------------------------------------------------------------------------
CBI          U.S. Patent No.              270,786     Pouch for carrying jewelry or similar
                                                      items
-------------------------------------------------------------------------------------------------
CBI          U.S. Serial No.              60/339,572  High Strength, Tarnish Resistant Composition
                                                      of Metal
-------------------------------------------------------------------------------------------------
<Caption>
-------------------------------------------------------------------------------------------------
OBLIGOR      TRADEMARKS:                              MARK:
-------------------------------------------------------------------------------------------------
<S>          <C>                          <C>         <C>
Taylor       U.S. Trademark No.           2,263,634   EZPIX
-------------------------------------------------------------------------------------------------
Taylor       U.S. Trademark No.           1,471,319   MONEYVISION
-------------------------------------------------------------------------------------------------
Taylor       U.S. Trademark No.           1,483,179   INDEXVISION
-------------------------------------------------------------------------------------------------
Taylor       U.S. Trademark No.           1,501,046   TYPEVISION
-------------------------------------------------------------------------------------------------
Taylor       U.S. Trademark No.           1,541,265   PAGEVISION
-------------------------------------------------------------------------------------------------
Taylor       U.S. Trademark No.           2,032,446   DESIGNCHECK
-------------------------------------------------------------------------------------------------
Taylor       U.S. Trademark No.           2,198,157   ULTRAVISION(1)
-------------------------------------------------------------------------------------------------
Taylor       U.S. Trademark No.           2,321,891   YEARZINE
-------------------------------------------------------------------------------------------------
Taylor       U.S. Trademark No.           2,411,040   NET CHEK
-------------------------------------------------------------------------------------------------
CBI          U.S. Trademark No.           751,685     14-K and design
-------------------------------------------------------------------------------------------------
CBI          U.S. Trademark No.           750,851     14K and heart design
-------------------------------------------------------------------------------------------------
CBI          U.S. Trademark No.           2,126,269   ACADEMY SERIES BY BALFOUR
-------------------------------------------------------------------------------------------------
CBI          Trademark No.                309229      ACCR and design (Canada)
-------------------------------------------------------------------------------------------------
CBI          U.S. Trademark No.           1,301,528   ACCR and design
-------------------------------------------------------------------------------------------------
CBI          U.S. Trademark No.           1,301,533   ALLEGRO
-------------------------------------------------------------------------------------------------
CBI          U.S. Trademark No.           1,418,308   AMERICA'S MASTER JEWELER
-------------------------------------------------------------------------------------------------
CBI          Trademark No.                51076       ARTCARVED (Canada)
-------------------------------------------------------------------------------------------------
CBI          Trademark No.                98648       ARTCARVED (Costa Rica)
-------------------------------------------------------------------------------------------------
CBI          Trademark No.                152660305   ARTCARVED (Spain)
-------------------------------------------------------------------------------------------------
CBI          Trademark No.                88415       ARTCARVED (Guatemala)
-------------------------------------------------------------------------------------------------
CBI          Trademark No.                383987      ARTCARVED (Mexico)
-------------------------------------------------------------------------------------------------
CBI          Trademark No.                81264       ARTCARVED (Panama)
-------------------------------------------------------------------------------------------------
CBI          U.S. Trademark No.           764668      ARTCARVED
-------------------------------------------------------------------------------------------------
CBI          Trademark No.                495916      ARTCARVED BRIDAL JEWELRY and design (Canada)
-------------------------------------------------------------------------------------------------
CBI          Trademark No.                319292      ARTCARVED CLASS RINGS (Canada)
-------------------------------------------------------------------------------------------------
CBI          U.S. Trademark No.           2,425,520   BAL
</Table>

----------
(1) See below under qualification for further information

<Page>

<Table>
<Caption>
OBLIGOR      TRADEMARKS:                              MARK:
-------------------------------------------------------------------------------------------------
<S>          <C>                          <C>         <C>
CBI          U.S. Trademark No.           1,373,682   BALFOUR
-------------------------------------------------------------------------------------------------
CBI          Trademark No.                47033       BALFOUR (Venezuela)
-------------------------------------------------------------------------------------------------
CBI          U.S. Trademark No.           2,138,090   BALFOUR "CHOICE OF CHAMPIONS"
-------------------------------------------------------------------------------------------------
CBI          Trademark No.                289600      BALFOUR and house design (hexagon) (Canada)
-------------------------------------------------------------------------------------------------
CBI          U.S. Trademark No.           2,383,837   BALFOUR FITS YOUR LIFE
-------------------------------------------------------------------------------------------------
CBI          U.S. Trademark No.           1,267,451   BALFOUR HOUSE DESIGN
-------------------------------------------------------------------------------------------------
CBI          U.S. Trademark No.           766,694     BELLAIRE
-------------------------------------------------------------------------------------------------
CBI          U.S. Trademark No.           1,315,677   CAMPUS
-------------------------------------------------------------------------------------------------
CBI          U.S. Trademark No.           2,013,791   CELEBRATIONS OF LIFE
-------------------------------------------------------------------------------------------------
CBI          U.S. Trademark No.           1,182,023   CELESTRIUM
-------------------------------------------------------------------------------------------------
CBI          U.S. Trademark No.           751,246     CEME AND DESIGN
-------------------------------------------------------------------------------------------------
CBI          U.S. Trademark No.           2,053,689   CLASS RINGS LIMITED DESIGN
-------------------------------------------------------------------------------------------------
CBI          Trademark No.                517893      CLASS THOUGHTS (Mexico)
-------------------------------------------------------------------------------------------------
CBI          U.S. Trademark No.           2,029,920   CLASS THOUGHTS
-------------------------------------------------------------------------------------------------
CBI          U.S. Trademark No.           1,368,860   DESIGN
-------------------------------------------------------------------------------------------------
CBI          U.S. Trademark No.           1,099,453   DESIGNER
-------------------------------------------------------------------------------------------------
CBI          U.S. Trademark No.           1,305,827   DIMONIQUE
-------------------------------------------------------------------------------------------------
CBI          U.S. Trademark No.           1,702,485   DYNALLOY
-------------------------------------------------------------------------------------------------
CBI          U.S. Trademark No.           1,279,766   EVERLASTING
-------------------------------------------------------------------------------------------------
CBI          U.S. Trademark No.           1,293,285   FREEDOM OF CHOICE
-------------------------------------------------------------------------------------------------
CBI          U.S. Trademark No.           2,170,084   G L DESIGN
-------------------------------------------------------------------------------------------------
CBI          U.S. Trademark No.           2,189,715   GENERATIONS OF LOVE
-------------------------------------------------------------------------------------------------
CBI          U.S. Trademark No.           1,702,486   GOLDEN DYNALLOY
-------------------------------------------------------------------------------------------------
CBI          U.S. Trademark No.           1,340,604   GOLDEN SADDLE
-------------------------------------------------------------------------------------------------
CBI          U.S. Trademark No.           1,229,607   GRADUATE TO GOLD
-------------------------------------------------------------------------------------------------
CBI          U.S. Trademark No.           1,690,099   HERALDRY HOUSE
-------------------------------------------------------------------------------------------------
CBI          U.S. Trademark No.           1,936,229   IMAGE INLAY
-------------------------------------------------------------------------------------------------
CBI          Trademark No.                327135      J R AND DESIGN (Canada)
-------------------------------------------------------------------------------------------------
CBI          U.S. Trademark No.           930,499     J R AND DESIGN
-------------------------------------------------------------------------------------------------
CBI          U.S. Trademark No.           2,026,934   JEWELRY FOR GENERATIONS
-------------------------------------------------------------------------------------------------
CBI          U.S. Trademark No.           785,584     JEWELRY'S FINEST CRAFTSMAN
-------------------------------------------------------------------------------------------------
CBI          U.S. Trademark No.           1,598,500   JOHN ROBERTS
-------------------------------------------------------------------------------------------------
CBI          U.S. Trademark No.           2,063,574   K AND DESIGN
-------------------------------------------------------------------------------------------------
CBI          Trademark No.                5893        KEEPSAKE (Barbados)
-------------------------------------------------------------------------------------------------
CBI          Trademark No.                UCA11868    KEEPSAKE (Canada)
-------------------------------------------------------------------------------------------------
CBI          Trademark No.                284006      KEEPSAKE (Canada)
-------------------------------------------------------------------------------------------------
CBI          Trademark No.                2206366     KEEPSAKE (Japan)
-------------------------------------------------------------------------------------------------
CBI          Trademark No.                14805       KEEPSAKE (Puerto Rico)
-------------------------------------------------------------------------------------------------
CBI          Trademark No.                12163       KEEPSAKE (Turkey)
-------------------------------------------------------------------------------------------------
CBI          U.S. Trademark No.           1,476,898   KEEPSAKE
-------------------------------------------------------------------------------------------------
CBI          Trademark No.                105199      KEEPSAKE (Venezuela)
-------------------------------------------------------------------------------------------------
CBI          Trademark No.                25576       KEEPSAKE (Venezuela)
</Table>

<Page>

<Table>
<Caption>
OBLIGOR      TRADEMARKS:                              MARK:
-------------------------------------------------------------------------------------------------
<S>          <C>                          <C>         <C>
CBI          U.S. Trademark No.           1,892,645   KEEPSAKE AND DESIGN
-------------------------------------------------------------------------------------------------
CBI          U.S. Trademark No.           1,799,274   KEEPSAKE (Block Letters)
-------------------------------------------------------------------------------------------------
CBI          U.S. Trademark No.           917,169     KEEPSAKE (Stylized)
-------------------------------------------------------------------------------------------------
CBI          Trademark No.                720061      KEYHOLE DESIGN (Canada)
-------------------------------------------------------------------------------------------------
CBI          Trademark No.                470255      KEYHOLE DESIGN (Mexico)
-------------------------------------------------------------------------------------------------
CBI          U.S. Trademark No.           1,768,581   KEYHOLE DESIGN
-------------------------------------------------------------------------------------------------
CBI          U.S. Trademark No.           1,805,999   KEYSTONE
-------------------------------------------------------------------------------------------------
CBI          Trademark No.                457258      KEYSTONE AND DESIGN
-------------------------------------------------------------------------------------------------
CBI          Trademark No.                460405      KEYSTONE AND DESIGN
-------------------------------------------------------------------------------------------------
CBI          U.S. Trademark No.           1,976,772   KEYSTONE (Stylized)
-------------------------------------------------------------------------------------------------
CBI          Trademark No.                425800      KEYSTONE (WORD)
-------------------------------------------------------------------------------------------------
CBI          Trademark No.                436961      KEYSTONE (WORD)
-------------------------------------------------------------------------------------------------
CBI          U.S. Trademark No.           1,398,462   KEYSTONE AND DESIGN
-------------------------------------------------------------------------------------------------
CBI          U.S. Trademark No.           1,356,522   KPS
-------------------------------------------------------------------------------------------------
CBI          Trademark No.                135,814     LAZY W (Canada)
-------------------------------------------------------------------------------------------------
CBI          U.S. Trademark No.           764,669     Lazy W - Design only
-------------------------------------------------------------------------------------------------
CBI          U.S. Trademark No.           1,704,202   LETTERMAN
-------------------------------------------------------------------------------------------------
CBI          U.S. Trademark No.           0414464     LGB
-------------------------------------------------------------------------------------------------
CBI          U.S. Trademark No.           1,594,125   MASTER
-------------------------------------------------------------------------------------------------
CBI          U.S. Trademark No.           755,467     MIDNIGHT STAR
-------------------------------------------------------------------------------------------------
CBI          U.S. Trademark No.           1,985,712   NS
-------------------------------------------------------------------------------------------------
CBI          Trademark No.                137485      P.V.P. (Canada)
-------------------------------------------------------------------------------------------------
CBI          U.S. Trademark No.           884,783     P.V.P.
-------------------------------------------------------------------------------------------------
CBI          U.S. Trademark No.           1,852,353   PANDORA LTD.
-------------------------------------------------------------------------------------------------
CBI          Trademark No.                137507      PERMANENT VALUE PLAN (Canada)
-------------------------------------------------------------------------------------------------
CBI          U.S. Trademark No.           967,840     PERMANENT VALUE PLAN
-------------------------------------------------------------------------------------------------
CBI          U.S. Trademark No.           1,596,306   QUALIUM
-------------------------------------------------------------------------------------------------
CBI          U.S. Trademark No.           1,904,358   R. JOHNS
-------------------------------------------------------------------------------------------------
CBI          U.S. Trademark No.           1,904,359   R. JOHNS, LTD.
-------------------------------------------------------------------------------------------------
CBI          U.S. Trademark No.           2,331,035   RECOGNIZING LIFE'S ACHIEVEMENTS
-------------------------------------------------------------------------------------------------
CBI          U.S. Trademark No.           2,179,081   REFLECTION SERIES BY BALFOUR
-------------------------------------------------------------------------------------------------
CBI          U.S. Trademark No.           2,095,726   RING OF CHAMPIONS
-------------------------------------------------------------------------------------------------
CBI          Trademark No.                323388      S Design(Canada)
-------------------------------------------------------------------------------------------------
CBI          U.S. Trademark No.           1,934,198   NAME-SAKE
-------------------------------------------------------------------------------------------------
CBI          Trademark No.                319,431     SILADIUM (Canada)
-------------------------------------------------------------------------------------------------
CBI          U.S. Trademark No.           989,301     SILADIUM
-------------------------------------------------------------------------------------------------
CBI          Trademark No.                4815        STARFIRE (Bahamas)
-------------------------------------------------------------------------------------------------
CBI          U.S. Trademark No.           2,310,595   STARFIRE
-------------------------------------------------------------------------------------------------
CBI          U.S. Trademark No.           1,368,909   THE BALFOUR BLUE BOOK
-------------------------------------------------------------------------------------------------
CBI          U.S. Trademark No.           1,365,476   THE DESIGNER COLLECTION
-------------------------------------------------------------------------------------------------
CBI          U.S. Trademark No.           1,462,750   VALADIUM
</Table>

<Page>

<Table>
<Caption>
OBLIGOR      TRADEMARKS:                              MARK:
-------------------------------------------------------------------------------------------------
<S>          <C>                          <C>         <C>
CBI          U.S. Trademark No.           1,220,792   WHITE FIRE
-------------------------------------------------------------------------------------------------
CBI          U.S. Trademark No.           1,193,591   WHITE FIRE DIAMOND RINGS & DESIGN
-------------------------------------------------------------------------------------------------
ECI          U.S. Trademark Number        1,427,881   ANNUAL SURVEY OF HIGH ACHIEVERS
-------------------------------------------------------------------------------------------------
ECI          U.S. Trademark Number        1,521,769   COLLEGE BOUND DIGEST
-------------------------------------------------------------------------------------------------
ECI          U.S. Trademark Number        1,289,534   COLLEGE-BOUND DIGEST
-------------------------------------------------------------------------------------------------
ECI          U.S. Trademark Number        1,602,930   CRS
-------------------------------------------------------------------------------------------------
ECI          U.S. Trademark Number        1,652,639   EDUCATIONAL COMMUNICATIONS
-------------------------------------------------------------------------------------------------
ECI          Trademark Number             54808       EDUCATIONAL COMMUNICATIONS SCHOLARSHIP
             (Illinois)                               FOUNDATION
-------------------------------------------------------------------------------------------------
ECI          U.S. Trademark Number        1,267,915   EDUCATIONAL COMMUNICATIONS SCHOLARSHIP
                                                      FOUNDATION
-------------------------------------------------------------------------------------------------
ECI          U.S. Trademark Number        1,227,499   EDUCATIONAL COMMUNICATIONS, INC.
-------------------------------------------------------------------------------------------------
ECI          U.S. Trademark Number        1,279,172   EDUCATIONAL COMMUNICATIONS, INC.
-------------------------------------------------------------------------------------------------
ECI          U.S. Trademark Number        1,562,662   FEATHER DESIGN
-------------------------------------------------------------------------------------------------
ECI          U.S. Trademark Number        1,279,896   FEATHER DESIGN
-------------------------------------------------------------------------------------------------
ECI          U.S. Trademark Number        1,269,802   FEATHER DESIGN
-------------------------------------------------------------------------------------------------
ECI          U.S. Trademark Number        1,286,045   FEATHER DESIGN
-------------------------------------------------------------------------------------------------
ECI          U.S. Trademark Number        1,270,216   FEATHER DESIGN
-------------------------------------------------------------------------------------------------
ECI          U.S. Trademark Number        1,306,934   FEATHER DESIGN
-------------------------------------------------------------------------------------------------
ECI          U.S. Trademark Number        2,356,378   HONORING AMERICA'S OUTSTANDING COLLEGE
                                                      STUDENTS
-------------------------------------------------------------------------------------------------
ECI          U.S. Trademark Number        1,237,383   HONORING TOMORROW'S LEADERS TODAY
-------------------------------------------------------------------------------------------------
ECI          U.S. Trademark Number        1,233,603   HONORING TOMORROW'S LEADERS TODAY
</Table>

<Page>

<Table>
<Caption>
OBLIGOR      TRADEMARKS:                              MARK:
-------------------------------------------------------------------------------------------------
<S>          <C>                          <C>         <C>
ECI          U.S. Trademark Number        1,231,889   HONORING TOMORROW'S
                                                      LEADERS TODAY
-------------------------------------------------------------------------------------------------
ECI          U.S. Trademark Number        1,262,961   HONORING TOMORROW'S
                                                      LEADERS TODAY
-------------------------------------------------------------------------------------------------
ECI          U.S. Trademark Number        1,536,873   HONORING TOMORROW'S
                                                      LEADERS TODAY
-------------------------------------------------------------------------------------------------
ECI          U.S. Trademark Number        1,233,557   MORTARBOARD DESIGN
-------------------------------------------------------------------------------------------------
ECI          U.S. Trademark Number        1,538,526   MORTARBOARD DESIGN
-------------------------------------------------------------------------------------------------
ECI          U.S. Trademark No.           1,584,665   MORTARBOARD DESIGN
-------------------------------------------------------------------------------------------------
ECI          U.S. Trademark Number        1,235,810   MORTARBOARD DESIGN
-------------------------------------------------------------------------------------------------
ECI          U.S. Trademark Number        1,214,291   MORTARBOARD DESIGN
-------------------------------------------------------------------------------------------------
ECI          U.S. Trademark Number        1,253,784   MORTARBOARD DESIGN
-------------------------------------------------------------------------------------------------
ECI          U.S. Trademark Number        1,510,245   MORTARBOARD DESIGN
-------------------------------------------------------------------------------------------------
ECI          U.S. Trademark Number        1,269,830   MORTARBOARD DESIGN
-------------------------------------------------------------------------------------------------
ECI          U.S. Trademark Number        1,228,517   MORTARBOARD DESIGN
-------------------------------------------------------------------------------------------------
ECI          U.S. Trademark Number        1,578,049   SRS
-------------------------------------------------------------------------------------------------
ECI          U.S. Trademark Number        1,453,579   STUDENT REFERRAL SERVICE
-------------------------------------------------------------------------------------------------
ECI          U.S. Trademark Number        1,878,333   THE BEST TEACHERS IN
                                                      AMERICA SELECTED BY THE
                                                      BEST STUDENTS
-------------------------------------------------------------------------------------------------
ECI          U.S. Trademark Number        1,832,243   THE BEST TEACHERS IN
                                                      AMERICA SELECTED BY THE
                                                      BEST STUDENTS
-------------------------------------------------------------------------------------------------
ECI          U.S. Trademark Number        1,776,124   THE BEST TEACHERS IN
                                                      AMERICA SELECTED BY THE
                                                      BEST STUDENTS
-------------------------------------------------------------------------------------------------
ECI          U.S. Trademark Number        1,699,480   THE BEST TEACHERS
                                                      IN AMERICA SELECTED BY THE
                                                      BEST STUDENTS
-------------------------------------------------------------------------------------------------
ECI          U.S. Trademark Number        1,371,790   THE COLLEGE REFERRAL SERVICE
-------------------------------------------------------------------------------------------------
ECI          Trademark Number             095035      THE NATIONAL DEAN'S LIST
             (California)
-------------------------------------------------------------------------------------------------
ECI          Trademark Number             19921100546 THE NATIONAL DEAN'S LIST
             (Colorado)
</Table>

<Page>

<Table>
<Caption>
OBLIGOR      TRADEMARKS:                              MARK:
-------------------------------------------------------------------------------------------------
<S>          <C>                          <C>         <C>
ECI          Trademark Number             8958        THE NATIONAL DEAN'S LIST
             Connecticut)
-------------------------------------------------------------------------------------------------
ECI          Trademark Number             T11487      THE NATIONAL DEAN'S LIST
             (Florida)
------------------------------------------------------------------------------------------------
ECI          Trademark Number             T-11653     THE NATIONAL DEAN'S LIST
             (Georgia)
-------------------------------------------------------------------------------------------------
ECI          Trademark Number             54809       THE NATIONAL DEAN'S LIST
             (Illinois)
-------------------------------------------------------------------------------------------------
ECI          Trademark Number             10960       THE NATIONAL DEAN'S LIST
             (Kentucky)
-------------------------------------------------------------------------------------------------
ECI          Trademark Number             19927403    THE NATIONAL DEAN'S LIST
             (Maryland)
-------------------------------------------------------------------------------------------------
ECI          Trademark Number             47496       THE NATIONAL DEAN'S LIST
             (Massachusetts)
-------------------------------------------------------------------------------------------------
ECI          Trademark Number             00000000    THE NATIONAL DEAN'S LIST
             (New Jersey)
-------------------------------------------------------------------------------------------------
ECI          Trademark Number             R-26988     THE NATIONAL DEAN'S LIST
             (New York)
-------------------------------------------------------------------------------------------------
ECI          Trademark Number             051958      THE NATIONAL DEAN'S LIST
             (Texas)
-------------------------------------------------------------------------------------------------
ECI          U.S. Trademark Number        1,531,337   THE NATIONAL DEAN'S LIST
-------------------------------------------------------------------------------------------------
ECI          U.S. Trademark Number        1,247,029   THE NATIONAL DEAN'S LIST
-------------------------------------------------------------------------------------------------
ECI          U.S. Trademark Number        1,763,265   THE NATIONAL DEAN'S LIST
-------------------------------------------------------------------------------------------------
ECI          Trademark Number             0920728     THE NATIONAL DEAN'S LIST
             (Virginia)
-------------------------------------------------------------------------------------------------
ECI          Trademark Number             10377       THE NATIONAL DEAN'S LIST
             (New Jersey)
-------------------------------------------------------------------------------------------------
ECI          U.S. Trademark Number        1,787,618   THE NATIONAL DEAN'S LIST ALUMNI ASSOCIATION
-------------------------------------------------------------------------------------------------
ECI          U.S. Trademark Number        1,604,536   THE NATIONAL DEAN'S LIST AND DESIGN
-------------------------------------------------------------------------------------------------
ECI          U.S. Trademark Number        1,534,731   THE NATIONAL DEAN'S LIST AND DESIGN
-------------------------------------------------------------------------------------------------
ECI          U.S. Trademark Number        1,266,349   THE NATIONAL DEAN'S LIST AND DESIGN
-------------------------------------------------------------------------------------------------
ECI          U.S. Trademark Number        1,233,602   THE NATIONAL DEAN'S LIST AND DESIGN
-------------------------------------------------------------------------------------------------
ECI          U.S. Trademark Number        1,229,605   THE NATIONAL DEAN'S LIST AND DESIGN
-------------------------------------------------------------------------------------------------
ECI          U.S. Trademark Number        1,238,293   THE NATIONAL DEAN'S LIST AND DESIGN
</Table>

<Page>

<Table>
<Caption>
OBLIGOR      TRADEMARKS:                              MARK:
------------------------------------------------------------------------------------------------------
<S>          <C>                          <C>         <C>
ECI          U.S. Trademark Number        1,260,236   THE NATIONAL DEAN'S LIST AND DESIGN
------------------------------------------------------------------------------------------------------
ECI          U.S. Trademark Number        1,596,872   WHO'S WHO AMONG AMERICA'S TEACHERS
------------------------------------------------------------------------------------------------------
ECI          U.S. Trademark Number        1,873,885   WHO'S WHO AMONG AMERICA'S TEACHERS
------------------------------------------------------------------------------------------------------
ECI          U.S. Trademark Number        1,659,216   WHO'S WHO AMONG AMERICA'S TEACHERS
------------------------------------------------------------------------------------------------------
ECI          U.S. Trademark Number        1,899,189   WHO'S WHO AMONG AMERICA'S TEACHERS
------------------------------------------------------------------------------------------------------
ECI          U.S. Trademark Number        1,871,371   WHO'S WHO AMONG AMERICA'S TEACHERS
------------------------------------------------------------------------------------------------------
ECI          Trademark Number             095057      WHO'S WHO AMONG AMERICAN HIGH SCHOOL
             (California)                             STUDENTS
------------------------------------------------------------------------------------------------------
ECI          Trademark Number             19931056646 WHO'S WHO AMONG AMERICAN HIGH SCHOOL STUDENTS
             (Colorado)
------------------------------------------------------------------------------------------------------
ECI          Trademark Number             8957        WHO'S WHO AMONG AMERICAN HIGH SCHOOL STUDENTS
             (Connecticut)
------------------------------------------------------------------------------------------------------
ECI          Trademark Number             T11488      WHO'S WHO AMONG AMERICAN HIGH SCHOOL STUDENTS
             (Florida)
------------------------------------------------------------------------------------------------------
ECI          Trademark Number             T05932      WHO'S WHO AMONG AMERICAN HIGH SCHOOL STUDENTS
             (Florida)
------------------------------------------------------------------------------------------------------
ECI          Trademark Number             T05933      WHO'S WHO AMONG AMERICAN HIGH SCHOOL STUDENTS
             (Florida)
------------------------------------------------------------------------------------------------------
ECI          Trademark Number             T-11564     WHO'S WHO AMONG AMERICAN HIGH SCHOOL STUDENTS
             (Georgia)
------------------------------------------------------------------------------------------------------
ECI          Trademark Number             54810       WHO'S WHO AMONG AMERICAN HIGH SCHOOL STUDENTS
             (Illinois)
------------------------------------------------------------------------------------------------------
ECI          Trademark Number             10959       WHO'S WHO AMONG AMERICAN HIGH SCHOOL STUDENTS
             (Kentucky)
------------------------------------------------------------------------------------------------------
ECI          Trademark Number             19927404    WHO'S WHO AMONG AMERICAN HIGH SCHOOL STUDENTS
             (Maryland)
------------------------------------------------------------------------------------------------------
ECI          Trademark Number             47517       WHO'S WHO AMONG AMERICAN HIGH SCHOOL STUDENTS
             (Massachusetts)
------------------------------------------------------------------------------------------------------
ECI          Trademark Number             0920728     WHO'S WHO AMONG AMERICAN HIGH SCHOOL STUDENTS
             (Virginia)
------------------------------------------------------------------------------------------------------
ECI          Trademark Number             R-26989     WHO'S WHO AMONG AMERICAN HIGH SCHOOL STUDENTS
             (New York)
------------------------------------------------------------------------------------------------------
ECI          Trademark Number             051959      WHO'S WHO AMONG AMERICAN HIGH SCHOOL STUDENTS
             (Texas)
------------------------------------------------------------------------------------------------------
ECI          Trademark Number             10376       WHO'S WHO AMONG AMERICAN HIGH SCHOOL STUDENTS
             (New Jersey)
------------------------------------------------------------------------------------------------------
ECI          U.S. Trademark Number        1,238,888   WHO'S WHO AMONG AMERICAN HIGH SCHOOL STUDENTS
</Table>

<Page>

<Table>
<Caption>
OBLIGOR      TRADEMARKS:                              MARK:
-------------------------------------------------------------------------------------------------
<S>          <C>                          <C>         <C>
ECI          U.S. Trademark Number        1,044,814   WHO'S WHO AMONG AMERICAN
                                                      HIGH SCHOOL STUDENTS
-------------------------------------------------------------------------------------------------
ECI          U.S. Trademark Number        1,755,706   WHO'S WHO AMONG AMERICAN
                                                      HIGH SCHOOL STUDENTS
-------------------------------------------------------------------------------------------------
ECI          U.S. Trademark Number        1,267,914   WHO'S WHO AMONG AMERICAN
                                                      HIGH SCHOOL STUDENTS
-------------------------------------------------------------------------------------------------
ECI          U.S. Trademark Number        1,571,332   WHO'S WHO AMONG AMERICAN
                                                      HIGH SCHOOL STUDENTS
-------------------------------------------------------------------------------------------------
ECI          U.S. Trademark Number        1,541,690   WHO'S WHO AMONG AMERICAN
                                                      HIGH SCHOOL STUDENTS
-------------------------------------------------------------------------------------------------
ECI          U.S. Trademark Number        1,606,342   WHO'S WHO AMONG AMERICAN
                                                      HIGH SCHOOL STUDENTS
-------------------------------------------------------------------------------------------------
ECI          U.S. Trademark Number        1,221,233   WHO'S WHO AMONG AMERICAN
                                                      HIGH SCHOOL STUDENTS
-------------------------------------------------------------------------------------------------
ECI          U.S. Trademark Number        1,215,740   WHO'S WHO AMONG AMERICAN
                                                      HIGH SCHOOL STUDENTS
-------------------------------------------------------------------------------------------------
ECI          U.S. Trademark Number        1,221,763   WHO'S WHO AMONG AMERICAN
                                                      HIGH SCHOOL STUDENTS
-------------------------------------------------------------------------------------------------
ECI          U.S. Trademark Number        1,259,455   WHO'S WHO AMONG AMERICAN
                                                      HIGH SCHOOL STUDENTS
-------------------------------------------------------------------------------------------------
ECI          U.S. Trademark Number        1,245,969   WHO'S WHO AMONG AMERICAN
                                                      HIGH SCHOOL STUDENTS
-------------------------------------------------------------------------------------------------
ECI          U.S. Trademark Number        1,296,043   WHO'S WHO AMONG AMERICAN
                                                      HIGH SCHOOL STUDENTS
-------------------------------------------------------------------------------------------------
ECI          Trademark Number             0920728     WHO'S WHO AMONG AMERICAN
             (Virginia)                               HIGH SCHOOL STUDENTS
-------------------------------------------------------------------------------------------------
ECI          U.S. Trademark Number        1,222,572   WHO'S WHO REPORTS
-------------------------------------------------------------------------------------------------
ECI          Trademark Number             T05934      WHO'S WHO REVIEW
             (Florida)
-------------------------------------------------------------------------------------------------
ECI          U.S. Trademark Number        1,397,634   WHO'S WHO REVIEW
-------------------------------------------------------------------------------------------------
Taylor       U.S. Trademark App. No.      76/178,190  ELITEVISION
-------------------------------------------------------------------------------------------------
Taylor       U.S. Trademark App. No.      76/208,495  SAM (and design)
-------------------------------------------------------------------------------------------------
Taylor       U.S. Trademark App. No.      76/176,954  SMART PAY
-------------------------------------------------------------------------------------------------
Taylor       U.S. Trademark App. No.      76/343,521  SPECTRA
-------------------------------------------------------------------------------------------------
Taylor       U.S. Trademark App. No.      76/342,917  YB!PRO
-------------------------------------------------------------------------------------------------
CBI          Trademark App. No.           320855      ARTCARVED BRIDAL JEWELRY (Mexico)
-------------------------------------------------------------------------------------------------
CBI          U.S. Trademark No.           2,441,434   BALFOUR SPORTS (STYLIZED)
</Table>

<Page>

<Table>
<Caption>
OBLIGOR      TRADEMARKS:                               MARK:
-------------------------------------------------------------------------------------------------
<S>          <C>                          <C>          <C>
CBI          U.S. Trademark App. No.      75/111,974   BOY'S ALL*STAR
-------------------------------------------------------------------------------------------------
CBI          U.S. Trademark App. No.      75/484,104   CLASS OF YOUR OWN
-------------------------------------------------------------------------------------------------
CBI          U.S. Trademark App. No.      75/111,746   GIRL'S ALL*STAR
-------------------------------------------------------------------------------------------------
CBI          U.S. Trademark App. No.      75/470,814   GRADUATION CELEBRATION
-------------------------------------------------------------------------------------------------
CBI          U.S. Trademark App. No.      76/129,040   GRADUATION CELEBRATION
-------------------------------------------------------------------------------------------------
CBI          U.S. Trademark App. No.      75/111,745   THE ALL STAR SERIES
-------------------------------------------------------------------------------------------------
CBI          U.S. Trademark No.           2,502,361    YOUR BALFOUR COLLEGE RING...THE WEARABLE
                                                       RESUME
-------------------------------------------------------------------------------------------------
ECI          U.S. Trademark App. No.      2,479,133    WHO'S WHO AMONG AMERICAN HIGH SCHOOL
                                                       STUDENT ALUMNI ASSOCIATION
-------------------------------------------------------------------------------------------------
Taylor       Unregistered                              Stylized Taylor(2)
-------------------------------------------------------------------------------------------------
Taylor       Unregistered                              Stylized Taylor Publishing Co.(3)
-------------------------------------------------------------------------------------------------
Taylor       Unregistered                              Artquest(4)
-------------------------------------------------------------------------------------------------
Taylor       Unregistered                              Taylor Reunion Services(5)
-------------------------------------------------------------------------------------------------
Taylor       Unregistered                              Positively For Kids(6)
-------------------------------------------------------------------------------------------------
<Caption>
-------------------------------------------------------------------------------------------------
OBLIGOR      COPYRIGHTS:                               DESCRIPTION
-------------------------------------------------------------------------------------------------
<S>          <C>                          <C>          <C>
Taylor       U.S. Copyright No.           TX 5-156-252 ULTRAVISION - version 1.29 Computer
                                                       Software Program
-------------------------------------------------------------------------------------------------
Taylor       U.S. Copyright No.           TX 5-156-251 VISION 2000 - version 2.047
                                                       Computer Software Program
-------------------------------------------------------------------------------------------------
Taylor       U.S. Copyright No.           TX 5-156-250 VISION 2000 - version 2.065
                                                       Computer Software Program
-------------------------------------------------------------------------------------------------
Taylor       U.S. Copyright No.           TXu 940-489  EZPIX Computer Software Program
-------------------------------------------------------------------------------------------------
CBI          U.S. Copyright No.           300,742      Birthstone Bouquet Ring
-------------------------------------------------------------------------------------------------
CBI          U.S. Copyright No.           606,818      Boy's all-star ring
-------------------------------------------------------------------------------------------------
CBI          U.S. Copyright No.           559,686      Eagle ring
</Table>

(2)   Logo, Taylor General Partner has choosen not to register

(3)   Logo, Taylor General Partner has chosen not to register

(4)   Artquest is the name of a contest sponsored by the Taylor General Partner
      over the last two years and will likely sponsor again, Taylor General
      Taylor General Partner has chosen not to register

(5)   Taylor Reunion Services is the same of the business segment which conducts
      reunion services, Taylor General Partner has not pursued registration.

(6)   Positively For Kids, is a series of children's books in the speciality
      publishing segment, Taylor General Partner has not pursued registration.

<Page>

<Table>
<Caption>
OBLIGOR      COPYRIGHTS:                               DESCRIPTION
------------------------------------------------------------------------------------------------------------------------------
<S>          <C>                          <C>          <C>
CBI          U.S. Copyright No.           606,816      Girl's all-star ring
------------------------------------------------------------------------------------------------------------------------------
CBI          U.S. Copyright No.           427,298      Hole-in-one
------------------------------------------------------------------------------------------------------------------------------
CBI          U.S. Copyright No.           none
                                          available    Journey
------------------------------------------------------------------------------------------------------------------------------
CBI          U.S. Copyright No.           380,032      Legend
------------------------------------------------------------------------------------------------------------------------------
CBI          U.S. Copyright No.           584,862      Nobility/royal
------------------------------------------------------------------------------------------------------------------------------
CBI          U.S. Copyright No.           none
                                          available      Radiance
------------------------------------------------------------------------------------------------------------------------------
CBI          U.S. Copyright No.           557,203        rose ring
------------------------------------------------------------------------------------------------------------------------------
CBI          U.S. Copyright No.           629,612        tenderness locket
------------------------------------------------------------------------------------------------------------------------------
ECI          U.S. Copyright No.           TX 5-073-052   Who's Who Among American High School
                                                         Students 1999-2000 (34th Edition) Volume I
------------------------------------------------------------------------------------------------------------------------------
ECI          U.S. Copyright No.           TX 5-073-053   Who's Who Among American High School
                                                         Students 1999-2000 (34th Edition) Volume II
------------------------------------------------------------------------------------------------------------------------------
ECI          U.S. Copyright No.           TX 5-073-054   Who's Who Among American High School
                                                         Students 1999-2000 (34th Edition) Volume III
------------------------------------------------------------------------------------------------------------------------------
ECI          U.S. Copyright No.           TX 5-073-055   Who's Who Among American High School
                                                         Students 1999-2000 (34th Edition) Volume IV
------------------------------------------------------------------------------------------------------------------------------
ECI          U.S. Copyright No.           TX 5-073-056   Who's Who Among American High School
                                                         Students 1999-2000 (34th Edition) Volume V
------------------------------------------------------------------------------------------------------------------------------
ECI          U.S. Copyright No.           TX 5-073-047   Who's Who Among American High School
                                                         Students 1999-2000 (34th Edition) Volume VI
------------------------------------------------------------------------------------------------------------------------------
ECI          U.S. Copyright No.           TX 5-073-041   Who's Who Among American High School
                                                         Students1999-2000 (34th Edition) Volume VII
------------------------------------------------------------------------------------------------------------------------------
ECI          U.S. Copyright No.           TX 5-073-040   Who's Who Among American High School
                                                         Students 1999-2000 (34th Edition) Volume VIII
------------------------------------------------------------------------------------------------------------------------------
ECI          U.S. Copyright No.           TX 5-073-048   Who's Who Among American High School
                                                         Students 1999-2000 (34th Edition) Volume IX
</Table>

<Page>

<Table>
<Caption>
OBLIGOR      COPYRIGHTS:                                 DESCRIPTION
-----------------------------------------------------------------------------------------------------------------------------------
<S>          <C>                          <C>            <C>
ECI          U.S. Copyright No.           TX 5-073-049   Who's Who Among American High School Students 1999-2000 (34th Edition)
                                                         Volume X
-----------------------------------------------------------------------------------------------------------------------------------
ECI          U.S. Copyright No.           TX 5-073-050   Who's Who Among American High School Students 1999-2000 (34th Edition)
                                                         Volume XI
-----------------------------------------------------------------------------------------------------------------------------------
ECI          U.S. Copyright No.           TX 5-073-051   Who's Who Among American High School Students 1999-2000 (34th Edition)
                                                         Volume XII
-----------------------------------------------------------------------------------------------------------------------------------
ECI          U.S. Copyright No.           TX 5-073-046   Who's Who Among American High School Students 1999-2000 (34th Edition)
                                                         Volume XIII
-----------------------------------------------------------------------------------------------------------------------------------
ECI          U.S. Copyright No.           TX 5-073-045   Who's Who Among American High School Students 1999-2000 (34th Edition)
                                                         Volume XIV
-----------------------------------------------------------------------------------------------------------------------------------
ECI          U.S. Copyright No.           TX 5-377-170   Who's Who Among American High School Students 1999-2000 (34th Edition)
                                                         Volume XV
-----------------------------------------------------------------------------------------------------------------------------------
ECI          U.S. Copyright No.           TX 5-073-044   Who's Who Among American High School Students 1999-2000 (34th Edition)
                                                         Volume XVI
-----------------------------------------------------------------------------------------------------------------------------------
ECI          U.S. Copyright No.           TX 5-073-043   Who's Who Among American High School Students 1999-2000 (34th Edition)
                                                         Volume XVII
-----------------------------------------------------------------------------------------------------------------------------------
ECI          U.S. Copyright No.           TX 5-073-042   Who's Who Among American High School Students 1999-2000 (34th Edition)
                                                         Volume XVIII
-----------------------------------------------------------------------------------------------------------------------------------
ECI          U.S. Copyright No.           TX 5-037-750   Who's Who Among American High School Students 1998-99 (33rd Edition)
                                                         Volume I
-----------------------------------------------------------------------------------------------------------------------------------
ECI          U.S. Copyright No.           TX 5-037-750   Who's Who Among American High School Students 1998-99 (33rd Edition)
                                                         Volume I
-----------------------------------------------------------------------------------------------------------------------------------
ECI          U.S. Copyright No.           TX 5-037-754   Who's Who Among American High School Students 1998-99 (33rd Edition)
                                                         Volume II
</Table>

<Page>

<Table>
<Caption>
OBLIGOR                 COPYRIGHTS:                    DESCRIPTION
-----------------------------------------------------------------------------------------------------------------------------------
<S>                     <C>                            <C>                    <C>
ECI                     U.S. Copyright No.             TX 5-037-632           Who's Who Among American High School Students 1998-99
                                                                              (33rd Edition) Volume III
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 5-037-631           Who's Who Among American High School Students 1998-99
                                                                              (33rd Edition) Volume IV
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 5-037-747           Who's Who Among American High School Students 1998-99
                                                                              (33rd Edition) Volume V
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 5-037-756           Who's Who Among American High School Students 1998-99
                                                                              (33rd Edition) Volume VI
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 5-037-626           Who's Who Among American High School Students 1998-99
                                                                              (33rd Edition) Volume VII
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 5-037-748           Who's Who Among American High School Students 1998-99
                                                                              (33rd Edition) Volume VIII
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 5-037-753           Who's Who Among American High School Students 1998-99
                                                                              (33rd Edition) Volume IX
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 5-037-752           Who's Who Among American High School Students 1998-99
                                                                              (33rd Edition) Volume X
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 5-037-749           Who's Who Among American High School Students 1998-99
                                                                              (33rd Edition) Volume XI
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 5-037-633           Who's Who Among American High School Students 1998-99
                                                                              (33rd Edition) Volume XII
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 5-037-628           Who's Who Among American High School Students 1998-99
                                                                              (33rd Edition) Volume XIII
</Table>

<Page>

<Table>
<Caption>
OBLIGOR                 COPYRIGHTS:                    DESCRIPTION
-----------------------------------------------------------------------------------------------------------------------------------
<S>                     <C>                            <C>                    <C>

ECI                     U.S. Copyright No.             TX 5-037-627           Who's Who Among American High School Students 1998-99
                                                                              (33rd Edition) Volume XIV
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 5-037-751           Who's Who Among American High School Students 1998-99
                                                                              (33rd Edition) Volume XV
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 5-037-630           Who's Who Among American High School Students 1998-99
                                                                              (33rd Edition) Volume XVI
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 5-037-755           Who's Who Among American High School Students 1998-99
                                                                              (33rd Edition) Volume XVII
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 5-037-629           Who's Who Among American High School Students 1998-99
                                                                              (33rd Edition) Volume XVIII
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-896-465           Who's Who Among American High School Students 1997-98
                                                                              (32nd Edition) Volume I
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-896-501           Who's Who Among American High School Students 1997-98
                                                                              (32nd Edition) Volume II
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-896-504           Who's Who Among American High School Students 1997-98
                                                                              (32nd Edition) Volume III
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-896-476           Who's Who Among American High School Students 1997-98
                                                                              (32nd Edition) Volume IV
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-896-498           Who's Who Among American High School Students 1997-98
                                                                              (32nd Edition) Volume V
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-896-497           Who's Who Among American High School Students 1997-98
                                                                              (32nd Edition) Volume VI
</Table>

<Page>

<Table>
<Caption>
OBLIGOR                 COPYRIGHTS:                    DESCRIPTION
-----------------------------------------------------------------------------------------------------------------------------------
<S>                     <C>                            <C>                    <C>
ECI                     U.S. Copyright No.             TX 4-896-477           Who's Who Among American High School Students 1997-98
                                                                              (32nd Edition) Volume VII
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-896-503           Who's Who Among American High School Students 1997-98
                                                                              (32nd Edition) Volume VIII
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-896-502           Who's Who Among American High School Students 1997-98
                                                                              (32nd Edition) Volume IX
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-896-499           Who's Who Among American High School Students 1997-98
                                                                              (32nd Edition) Volume X
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-896-500           Who's Who Among American High School Students 1997-98
                                                                              (32nd Edition) Volume XI
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-896-508           Who's Who Among American High School Students 1997-98
                                                                              (32nd Edition) Volume XII
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-896-506           Who's Who Among American High School Students 1997-98
                                                                              (32nd Edition) Volume XIII
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-896-505           Who's Who Among American High School Students 1997-98
                                                                              (32nd Edition) Volume XIV
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-896-507           Who's Who Among American High School Students 1997-98
                                                                              (32nd Edition) Volume XV
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-896-467           Who's Who Among American High School Students 1997-98
                                                                              (32nd Edition) Volume XVI
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-896-475           Who's Who Among American High School Students 1997-98
                                                                              (32nd Edition) Volume XVII
</Table>

<Page>

<Table>
<Caption>
OBLIGOR                 COPYRIGHTS:                    DESCRIPTION
-----------------------------------------------------------------------------------------------------------------------------------
<S>                     <C>                            <C>                    <C>
ECI                     U.S. Copyright No.             TX 4-896-466           Who's Who Among American High School Students 1997-98
                                                                              (32nd Edition) Volume XVIII
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-691-581           Who's Who Among American High School Students 1996-97
                                                                              (31st Edition) Volume I
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-691-580           Who's Who Among American High School Students 1996-97
                                                                              (31st Edition) Volume II
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-691-575           Who's Who Among American High School Students 1996-97
                                                                              (31st Edition) Volume III
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-691-573           Who's Who Among American High School Students 1996-97
                                                                              (31st Edition) Volume IV
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-691-576           Who's Who Among American High School Students 1996-97
                                                                              (31st Edition) Volume V
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-691-582           Who's Who Among American High School Students 1996-97
                                                                              (31st Edition) Volume VI
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-691-579           Who's Who Among American High School Students 1996-97
                                                                              (31st Edition) Volume VII
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-691-567           Who's Who Among American High School Students 1996-97
                                                                              (31st Edition) Volume VIII
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-691-572           Who's Who Among American High School Students 1996-97
                                                                              (31st Edition) Volume IX
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-691-583           Who's Who Among American High School Students 1996-97
                                                                              (31st Edition) Volume X
</Table>

<Page>

<Table>
<Caption>
OBLIGOR                 COPYRIGHTS:                    DESCRIPTION
-----------------------------------------------------------------------------------------------------------------------------------
<S>                     <C>                            <C>                    <C>
ECI                     U.S. Copyright No.             TX 4-691-568           Who's Who Among American High School Students 1996-97
                                                                              (31st Edition) Volume XI
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-691-569           Who's Who Among American High School Students 1996-97
                                                                              (31st Edition) Volume XII
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-691-578           Who's Who Among American High School Students 1996-97
                                                                              (31st Edition) Volume XIII
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-691-571           Who's Who Among American High School Students 1996-97
                                                                              (31st Edition) Volume XIV
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-691-574           Who's Who Among American High School Students 1996-97
                                                                              (31st Edition) Volume XV
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-691-570           Who's Who Among American High School Students 1996-97
                                                                              (31st Edition) Volume XVI
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-691-577           Who's Who Among American High School Students 1996-97
                                                                              (31st Edition) Volume XVII
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-691-566           Who's Who Among American High School Students 1996-97
                                                                              (31st Edition) Volume XVIII
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-427-945           Who's Who Among American High School Students 1995-96
                                                                              (30th Edition) Volume I
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-427-947           Who's Who Among American High School Students 1995-96
                                                                              (30th Edition) Volume II
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-427-941           Who's Who Among American High School Students 1995-96
                                                                              (30th Edition) Volume III
</Table>

<Page>

<Table>
<Caption>
OBLIGOR                 COPYRIGHTS:                    DESCRIPTION
-----------------------------------------------------------------------------------------------------------------------------------
<S>                     <C>                            <C>                    <C>
ECI                     U.S. Copyright No.             TX 4-427-939           Who's Who Among American High School Students 1995-96
                                                                              (30th Edition) Volume IV
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-427-934           Who's Who Among American High School Students 1995-96
                                                                              (30th Edition) Volume V
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-427-942           Who's Who Among American High School Students 1995-96
                                                                              (30th Edition) Volume VI
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-427-933           Who's Who Among American High School Students 1995-96
                                                                              (30th Edition) Volume VII
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-427-946           Who's Who Among American High School Students 1995-96
                                                                              (30th Edition) Volume VIII
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-427-943           Who's Who Among American High School Students 1995-96
                                                                              (30th Edition) Volume IX
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-427-930           Who's Who Among American High School Students 1995-96
                                                                              (30th Edition) Volume X
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-427-937           Who's Who Among American High School Students 1995-96
                                                                              (30th Edition) Volume XI
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-427-938           Who's Who Among American High School Students 1995-96
                                                                              (30th Edition) Volume XII
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-427-936           Who's Who Among American High School Students 1995-96
                                                                              (30th Edition) Volume XIII
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-427-940           Who's Who Among American High School Students 1995-96
                                                                              (30th Edition) Volume XIV
</Table>

<Page>

<Table>
<Caption>
OBLIGOR                 COPYRIGHTS:                    DESCRIPTION
-----------------------------------------------------------------------------------------------------------------------------------
<S>                     <C>                            <C>                    <C>
ECI                     U.S. Copyright No.             TX 4-427-935           Who's Who Among American High School Students 1995-96
                                                                              (30th Edition) Volume XV
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-427-931           Who's Who Among American High School Students 1995-96
                                                                              (30th Edition) Volume XVI
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-427-932           Who's Who Among American High School Students 1995-96
                                                                              (30th Edition) Volume XVII
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-427-944           Who's Who Among American High School Students 1995-96
                                                                              (30th Edition) Volume XVIII
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-203-314           Who's Who Among American High School Students 1994-95
                                                                              (29th Edition) Volume I
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-199-000           Who's Who Among American High School Students 1994-95
                                                                              (29th Edition) Volume II
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-199-003           Who's Who Among American High School Students 1994-95
                                                                              (29th Edition) Volume III
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-203-310           Who's Who Among American High School Students 1994-95
                                                                              (29th Edition) Volume IV
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-203-417           Who's Who Among American High School Students 1994-95
                                                                              (29th Edition) Volume V
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-198-996           Who's Who Among American High School Students 1994-95
                                                                              (29th Edition) Volume VI
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-199-002           Who's Who Among American High School Students 1994-95
                                                                              (29th Edition) Volume VII
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-198-998           Who's Who Among American High School Students 1994-95
                                                                              (29th Edition) Volume VIII
</Table>

<Page>

<Table>
<Caption>
OBLIGOR                 COPYRIGHTS:                    DESCRIPTION
-----------------------------------------------------------------------------------------------------------------------------------
<S>                     <C>                            <C>                    <C>
ECI                     U.S. Copyright No.             TX 4-203-313           Who's Who Among American High School Students 1994-95
                                                                              (29th Edition) Volume IX
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-199-004           Who's Who Among American High School Students 1994-95
                                                                              (29th Edition) Volume X
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-203-312           Who's Who Among American High School Students 1994-95
                                                                              (29th Edition) Volume XI
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-203-416           Who's Who Among American High School Students 1994-95
                                                                              (29th Edition) Volume XII
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-198-999           Who's Who Among American High School Students 1994-95
                                                                              (29th Edition) Volume XIII
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-203-311           Who's Who Among American High School Students 1994-95
                                                                              (29th Edition) Volume XIV
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-199-001           Who's Who Among American High School Students 1994-95
                                                                              (29th Edition) Volume XV
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-198-997           Who's Who Among American High School Students 1994-95
                                                                              (29th Edition) Volume XVI
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-199-005           Who's Who Among American High School Students 1994-95
                                                                              (29th Edition) Volume XVII
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-199-006           Who's Who Among American High School Students 1994-95
                                                                              (29th Edition) Volume XVIII
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 3-646-467           Who's Who Among American High School Students 1993-94
                                                                              (28th Edition) Volume I
</Table>

<Page>

<Table>
<Caption>
OBLIGOR                 COPYRIGHTS:                    DESCRIPTION
-----------------------------------------------------------------------------------------------------------------------------------
<S>                     <C>                            <C>                    <C>
ECI                     U.S. Copyright No.             TX 3-646-464           Who's Who Among American High School Students 1993-94
                                                                              (28th Edition) Volume II
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 3-940-498           Who's Who Among American High School Students 1993-94
                                                                              (28th Edition) Volume III
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 3-646-470           Who's Who Among American High School Students 1993-94
                                                                              (28th Edition) Volume IV
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 3-940-497           Who's Who Among American High School Students 1993-94
                                                                              (28th Edition) Volume V
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 3-646-463           Who's Who Among American High School Students 1993-94
                                                                              (28th Edition) Volume VI
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 3-940-499           Who's Who Among American High School Students 1993-94
                                                                              (28th Edition) Volume VII
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 3-646-466           Who's Who Among American High School Students 1993-94
                                                                              (28th Edition) Volume VIII
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 3-646-469           Who's Who Among American High School Students 1993-94
                                                                              (28th Edition) Volume IX
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 3-940-500           Who's Who Among American High School Students 1993-94
                                                                              (28th Edition) Volume X
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 3-940-501           Who's Who Among American High School Students 1993-94
                                                                              (28th Edition) Volume XI
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 3-646-465           Who's Who Among American High School Students 1993-94
                                                                              (28th Edition) Volume XII
</Table>

<Page>

<Table>
<Caption>
OBLIGOR                 COPYRIGHTS:                    DESCRIPTION
-----------------------------------------------------------------------------------------------------------------------------------
<S>                     <C>                            <C>                    <C>
ECI                     U.S. Copyright No.             TX 3-940-502           Who's Who Among American High School Students 1993-94
                                                                              (28th Edition) Volume XIII
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 3-646-468           Who's Who Among American High School Students 1993-94
                                                                              (28th Edition) Volume XIV
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 3-940-503           Who's Who Among American High School Students 1993-94
                                                                              (28th Edition) Volume XV
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 3-980-012           Who's Who Among American High School Students 1993-94
                                                                              (28th Edition) Volume XVI
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 3-752-809           Who's Who Among American High School Students 1992-93
                                                                              (27th Edition) Volume 1
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 3-752-817           Who's Who Among American High School Students 1992-93
                                                                              (27th Edition) Volume II
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 3-752-816           Who's Who Among American High School Students 1992-93
                                                                              (27th Edition) Volume III
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 3-752-819           Who's Who Among American High School Students 1992-93
                                                                              (27th Edition) Volume IV
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 3-752-818           Who's Who Among American High School Students 1992-93
                                                                              (27th Edition) Volume V
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 3-752-821           Who's Who Among American High School Students 1992-93
                                                                              (27th Edition) Volume VI
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 3-752-815           Who's Who Among American High School Students 1992-93
                                                                              (27th Edition) Volume VII
</Table>

<Page>

<Table>
<Caption>
OBLIGOR                 COPYRIGHTS:                    DESCRIPTION
-----------------------------------------------------------------------------------------------------------------------------------
<S>                     <C>                            <C>                    <C>
ECI                     U.S. Copyright No.             TX 3-752-820           Who's Who Among American High School Students 1992-93
                                                                              (27th Edition) Volume VIII
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 3-752-814           Who's Who Among American High School Students 1992-93
                                                                              (27th Edition) Volume IX
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 3-752-813           Who's Who Among American High School Students 1992-93
                                                                              (27th Edition) Volume X
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 3-752-812           Who's Who Among American High School Students 1992-93
                                                                              (27th Edition) Volume XI
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 3-752-806           Who's Who Among American High School Students 1992-93
                                                                              (27th Edition) Volume XII
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 3-752-810           Who's Who Among American High School Students 1992-93
                                                                              (27th Edition) Volume XIII
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 3-752-808           Who's Who Among American High School Students 1992-93
                                                                              (27th Edition) Volume XIV
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 3-752-807           Who's Who Among American High School Students 1992-93
                                                                              (27th Edition) Volume XV
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 3-752-811           Who's Who Among American High School Students 1992-93
                                                                              (27th Edition) Volume XVI
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 3-463-348           Who's Who Among American High School Students 1991-92
                                                                              (26th Edition) Volume I
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 3-459-328           Who's Who Among American High School Students 1991-92
                                                                              (26th Edition) Volume II
</Table>

<Page>

<Table>
<Caption>
OBLIGOR                 COPYRIGHTS:                    DESCRIPTION
-----------------------------------------------------------------------------------------------------------------------------------
<S>                     <C>                            <C>                    <C>
ECI                     U.S. Copyright No.             TX 3-463-345           Who's Who Among American High School Students 1991-92
                                                                              (26th Edition) Volume III
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 3-463-344           Who's Who Among American High School Students 1991-92
                                                                              (26th Edition) Volume IV
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 3-463-349           Who's Who Among American High School Students 1991-92
                                                                              (26th Edition) Volume V
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 3-463-347           Who's Who Among American High School Students 1991-92
                                                                              (26th Edition) Volume VI
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 3-460-663           Who's Who Among American High School Students 1991-92
                                                                              (26th Edition) Volume VII
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 3-459-329           Who's Who Among American High School Students 1991-92
                                                                              (26th Edition) Volume VIII
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 3-460-661           Who's Who Among American High School Students 1991-92
                                                                              (26th Edition) Volume IX
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 3-463-346           Who's Who Among American High School Students 1991-92
                                                                              (26th Edition) Volume X
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 3-459-330           Who's Who Among American High School Students 1991-92
                                                                              (26th Edition) Volume XI
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 3-459-327           Who's Who Among American High School Students 1991-92
                                                                              (26th Edition) Volume XII
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 3-463-343           Who's Who Among American High School Students 1991-92
                                                                              (26th Edition) Volume XIII
</Table>

<Page>

<Table>
<Caption>
OBLIGOR                 COPYRIGHTS:                    DESCRIPTION
-----------------------------------------------------------------------------------------------------------------------------------
<S>                     <C>                            <C>                    <C>
ECI                     U.S. Copyright No.             TX 3-460-662           Who's Who Among American High School Students 1991-92
                                                                              (26th Edition) Volume XIV
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 3-460-660           Who's Who Among American High School Students 1991-92
                                                                              (26th Edition) Volume XV
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 3-452-658           Who's Who Among American High School Students 1990-91
                                                                              (25th Edition) Volume I
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 3-208-049           Who's Who Among American High School Students 1990-91
                                                       TX 3 452-152           (25th Edition) Volume II
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 3-208-051           Who's Who Among American High School Students 1990-91
                                                       TX 3-452-410           (25th Edition) Volume III
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 3-461-724           Who's Who Among American High School Students 1990-91
                                                                              (25th Edition) Volume IV
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 3-452-035           Who's Who Among American High School Students 1990-91
                                                                              (25th Edition) Volume V
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 3-458-036           Who's Who Among American High School Students 1990-91
                                                                              (25th Edition) Volume VI
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 3-461-725           Who's Who Among American High School Students 1990-91
                                                                              (25th Edition) Volume VII
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 3-461-728           Who's Who Among American High School Students 1990-91
                                                                              (25th Edition) Volume VIII
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 3-208-053           Who's Who Among American High School Students 1990-91
                                                       TX 3-452-412           (25th Edition) Volume IX
</Table>

<Page>

<Table>
<Caption>
OBLIGOR                 COPYRIGHTS:                    DESCRIPTION
-----------------------------------------------------------------------------------------------------------------------------------
<S>                     <C>                            <C>                    <C>
ECI                     U.S. Copyright No.             TX 3-208-050           Who's Who Among American High School Students 1990-91
                                                       TX 3-452-409           (25th Edition) Volume X
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 3-208-052           Who's Who Among American High School Students 1990-91
                                                       TX 3-452-411           (25th Edition) Volume XI
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 3-458-010           Who's Who Among American High School Students 1990-91
                                                                              (25th Edition) Volume XII
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 3-461-727           Who's Who Among American High School Students 1990-91
                                                                              (25th Edition) Volume XIII
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 3-461-726           Who's Who Among American High School Students 1990-91
                                                                              (25th Edition) Volume XIV
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 3-458-011           Who's Who Among American High School Students 1990-91
                                                                              (25th Edition) Volume XV
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 2-962-217           Who's Who Among American High School Students 1989-90
                                                                              (24th Edition) Volume I
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 2-962-220           Who's Who Among American High School Students 1989-90
                                                                              (24th Edition) Volume II
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 2-962-216           Who's Who Among American High School Students 1989-90
                                                                              (24th Edition) Volume III
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 2-970-617           Who's Who Among American High School Students 1989-90
                                                                              (24th Edition) Volume IV
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 2-962-219           Who's Who Among American High School Students 1989-90
                                                                              (24th Edition) Volume V
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 2-962-212           Who's Who Among American High School Students 1989-90
                                                                              (24th Edition) Volume VI
</Table>

<Page>

<Table>
<Caption>
OBLIGOR                 COPYRIGHTS:                    DESCRIPTION
-----------------------------------------------------------------------------------------------------------------------------------
<S>                     <C>                            <C>                    <C>
ECI                     U.S. Copyright No.             TX 2-962-215           Who's Who Among American High School Students 1989-90
                                                                              (24th Edition) Volume VII
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 2-962-214           Who's Who Among American High School Students 1989-90
                                                                              (24th Edition) Volume VIII
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 2-996-787           Who's Who Among American High School Students 1989-90
                                                                              (24th Edition) Volume IX
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 2-996-213           Who's Who Among American High School Students 1989-90
                                                                              (24th Edition) Volume X
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 2-996-784           Who's Who Among American High School Students 1989-90
                                                                              (24th Edition) Volume XI
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 2-996-786           Who's Who Among American High School Students 1989-90
                                                                              (24th Edition) Volume XII
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 2-992-218           Who's Who Among American High School Students 1989-90
                                                                              (24th Edition) Volume XIII
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 2-996-785           Who's Who Among American High School Students 1989-90
                                                                              (24th Edition) Volume XIV
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 2-996-783           Who's Who Among American High School Students 1989-90
                                                                              (24th Edition) Volume XV
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 2-740-181           Who's Who Among American High School Students 1988-89
                                                                              (23rd Edition) Volume I
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 2-740-176           Who's Who Among American High School Students 1988-89
                                                                              (23rd Edition) Volume II

</Table>

<Page>

<Table>
<Caption>
OBLIGOR                 COPYRIGHTS:                    DESCRIPTION
-----------------------------------------------------------------------------------------------------------------------------------
<S>                     <C>                            <C>                    <C>
ECI                     U.S. Copyright No.             TX 2-740-179           Who's Who Among American High School Students 1988-89
                                                                              (23rd Edition) Volume III
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 2-740-177           Who's Who Among American High School Students 1988-89
                                                                              (23rd Edition) Volume IV
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 2-740-180           Who's Who Among American High School Students 1988-89
                                                                              (23rd Edition) Volume V
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 2-740-178           Who's Who Among American High School Students 1988-89
                                                                              (23rd Edition) Volume VI
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 2-740-184           Who's Who Among American High School Students 1988-89
                                                                              (23rd Edition) Volume VII
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 2-740-182           Who's Who Among American High School Students 1988-89
                                                                              (23rd Edition) Volume VIII
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 2-740-183           Who's Who Among American High School Students 1988-89
                                                                              (23rd Edition) Volume IX
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 2-732-749           Who's Who Among American High School Students 1988-89
                                                                              (23rd Edition) Volume X
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 2-735-322           Who's Who Among American High School Students 1988-89
                                                                              (23rd Edition) Volume XI
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 2-732-396           Who's Who Among American High School Students 1988-89
                                                                              (23rd Edition) Volume XII
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 2-483-043           Who's Who Among American High School Students 1987-88
                                                                              (22nd Edition) Volume 1
</Table>

<Page>

<Table>
<Caption>
OBLIGOR                 COPYRIGHTS:                    DESCRIPTION
-----------------------------------------------------------------------------------------------------------------------------------
<S>                     <C>                            <C>                    <C>
ECI                     U.S. Copyright No.             TX 2-483-046           Who's Who Among American High School Students 1987-88
                                                                              (22nd Edition) Volume 2
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 2-483-044           Who's Who Among American High School Students 1987-88
                                                                              (22nd Edition) Volume 3
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 2-483-047           Who's Who Among American High School Students 1987-88
                                                                              (22nd Edition) Volume 4
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 2-483-042           Who's Who Among American High School Students 1987-88
                                                                              (22nd Edition) Volume 5
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 2-483-045           Who's Who Among American High School Students 1987-88
                                                                              (22nd Edition) Volume 6
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 2-489-113           Who's Who Among American High School Students 1987-88
                                                                              (22nd Edition) Volume 7
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 2-489-112           Who's Who Among American High School Students 1987-88
                                                                              (22nd Edition) Volume 8
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 2-489-264           Who's Who Among American High School Students 1987-88
                                                                              (22nd Edition) Volume 9
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 2-489-263           Who's Who Among American High School Students 1987-88
                                                                              (22nd Edition) Volume 10
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 2-489-262           Who's Who Among American High School Students 1987-88
                                                                              (22nd Edition) Volume 11
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 2-489-261           Who's Who Among American High School Students 1987-88
                                                                              (22nd Edition) Volume 12
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 2-243-677           Who's Who Among American High School Students 1986-87
                                                                              (21st Edition)
</Table>

<Page>

<Table>
<Caption>
OBLIGOR                 COPYRIGHTS:                    DESCRIPTION
-----------------------------------------------------------------------------------------------------------------------------------
<S>                     <C>                            <C>                    <C>
ECI                     U.S. Copyright No.             TX 2-033-739           Who's Who Among American High School Students 1985-86
                                                                              (20th Edition)
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 1-732-076           Who's Who Among American High School Students 1984-85
                                                                              (19th Edition)
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 1-596-312           Who's Who Among American High School Students 1983-84
                                                                              (18th Edition)
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 1-253-070           Who's Who Among American High School Students 1982-83
                                                                              (17th Edition)
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 1-062-415           Who's Who Among American High School Students 1981-82
                                                                              (16th Edition)
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 829-425             Who's Who Among American High School Students 1980-81
                                                                              (15th Edition)
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 727-543             Who's Who Among American High School Students 1979-80
                                                                              (14th Edition)
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 727-544             Who's Who Among American High School Students 1978-79
                                                                              (13th Edition)
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 205-503             Who's Who Among American High School Students 1977-78
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             A 927898               Who's Who Among American High School Students 1976-77
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             A 850568               Who's Who Among American High School Students 1975-76
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             A 702663               Who's Who Among American High School Students 1974-75
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             A 613480               Who's Who Among American High School Students 1973-74
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             A 526898               Who's Who Among American High School Students 1972-73
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             A 401099               Who's Who Among American High School Students 1971-72
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             A 292395               Merit's Who's Who Among American High School Students
                                                                              1970-71
</Table>

<Page>

<Table>
<Caption>
OBLIGOR                 COPYRIGHTS:                    DESCRIPTION
-----------------------------------------------------------------------------------------------------------------------------------
<S>                     <C>                            <C>                    <C>
ECI                     U.S. Copyright No.             A 190806               Merit's Who's Who Among American High School Students
                                                                              1969-1970
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             A 122921               Merit's Who's Who Among American High School Students
                                                                              1968-1969
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             A 65657                Merit's Who's Who Among American High School Students
                                                                              1967-1968
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             A 984826               Merit's Who's Who Among American High School Students
                                                       A 958282               1966-1967
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 5-073-057           WHO'S WHO AMONG AMERICA'S TEACHERS 2000 (6TH EDITION)
                                                                              VOLUME I
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 5-073-058           WHO'S WHO AMONG AMERICA'S TEACHERS 2000 (6TH EDITION)
                                                                              VOLUME II
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 5-073-059           WHO'S WHO AMONG AMERICA'S TEACHERS 2000 (6TH EDITION)
                                                                              VOLUME III
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 5-073-060           WHO'S WHO AMONG AMERICA'S TEACHERS 2000 (6TH EDITION)
                                                                              VOLUME IV
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-833-393           Who's Who Among America's Teachers 1998 (5th Edition)
                                                                              Volume I
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-833-394           Who's Who Among America's Teachers 1998 (5th Edition)
                                                                              Volume II
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-833-391           Who's Who Among America's Teachers 1998 (5th Edition)
                                                                              Volume III
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-833-392           Who's Who Among America's Teachers 1998 (5th Edition)
                                                                              Volume IV
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-469-764           Who's Who Among America's Teachers 1996 (4th Edition)
                                                                              Volume I
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-469-767           Who's Who Among America's Teachers 1996 (4th Edition)
                                                                              Volume II
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-469-765           Who's Who Among America's Teachers 1996 (4th Edition)
                                                                              Volume III
</Table>

<Page>

<Table>
<Caption>
OBLIGOR                 COPYRIGHTS:                    DESCRIPTION
-----------------------------------------------------------------------------------------------------------------------------------
<S>                     <C>                            <C>                    <C>
ECI                     U.S. Copyright No.             TX 4-469-766           Who's Who Among America's Teachers 1996 (4th Edition)
                                                                              Volume IV
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 3-899-380           Who's Who Among America's Teachers 1994 (3rd Edition)
                                                                              Volume I
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 3-899-381           Who's Who Among America's Teachers 1994 (3rd Edition)
                                                                              Volume II
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 3-423-206           Who's Who Among America's Teachers 1992 (2nd Edition)
                                                                              Volume I
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 3-426-091           Who's Who Among America's Teachers 1992 (2nd Edition)
                                                                              Volume II
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 2-931-185           Who's Who Among America's Teachers (1st Edition)
                                                                              1989-90
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 5-439-844           THE NATIONAL DEAN'S LIST 2000-2001 (24TH EDITION)
                                                                              VOLUME I
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 5-439-846           THE NATIONAL DEAN'S LIST 2000-2001 (24TH EDITION)
                                                                              VOLUME II
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 5-439-845           THE NATIONAL DEAN'S LIST 2000-2001 (24TH EDITION)
                                                                              VOLUME III
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 5-313-157           THE NATIONAL DEAN'S LIST 1999-2000 (23RD EDITION)
                                                                              VOLUME I
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 5-313-156           THE NATIONAL DEAN'S LIST 1999-2000 (23RD EDITION)
                                                                              VOLUME II
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 5-054-154           The National Dean's List 1998-1999 22nd Edition
                                                                              Volume I
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 5-052-410           The National Dean's List 1998-1999 22nd Edition
                                                                              Volume II
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-888-637           The National Dean's List 1997-1998 21st Edition
                                                                              Volume I
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-885-940           The National Dean's List 1997-1998 21st Edition
                                                                              Volume II
</Table>

<Page>

<Table>
<Caption>
OBLIGOR                 COPYRIGHTS:                    DESCRIPTION
-----------------------------------------------------------------------------------------------------------------------------------
<S>                     <C>                            <C>                    <C>
ECI                     U.S. Copyright No.             TX 4-586-406           The National Dean's List 1996-1997 20th Edition
                                                                              Volume I
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-586-407           The National Dean's List 1996-1997 20th Edition
                                                                              Volume II
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-423-941           The National Dean's List 1995-1996 19th Edition
                                                                              Volume I
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-423-940           The National Dean's List 1995-1996 19th Edition
                                                                              Volume II
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-141-994           The National Dean's List 1994-1995 18th Edition
                                                                              Volume I
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 4-134-540           The National Dean's List 1994-1995 18th Edition
                                                                              Volume II
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 3-646-461           The National Dean's List 1993-94 17th Edition Volume I
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 3-646-462           The National Dean's List 1993-94 17th Edition Volume
                                                                              II
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 3-673-315           The National Dean's List 1992-93 16th Edition Volume I
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 3-673-314           The National Dean's List 1992-93 16th Edition Volume
                                                                              II
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 3-440-206           The National Dean's List 1991-92 15th Edition
                                                                              Volume I
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 3-440-207           The National Dean's List 1991-92 15th Edition
                                                                              Volume II
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 3-185-101           The National Dean's List 1990-91 14th Edition Volume I
-----------------------------------------------------------------------------------------------------------------------------------
                                                       TX 3-185-102           The National Dean's List 1990-91 14th Edition Volume
                                                       TX 3-431-218           II
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 2 951-961           The National Dean's List 1989-90 13th Edition Volume I
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 2 951 960           The National Dean's List 1989-90 13th Edition Volume
                                                                              II
</Table>

<Page>

<Table>
<Caption>
OBLIGOR                 COPYRIGHTS:                    DESCRIPTION
-----------------------------------------------------------------------------------------------------------------------------------
<S>                     <C>                            <C>                    <C>
ECI                     U.S. Copyright No.             TX 2 750 950           The National Dean's List 1988-89 12th Edition Volume I
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 2 750 949           The National Dean's List 1988-89 12th Edition Volume
                                                                              II
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 2 463-958           The National Dean's List 1987-88 11th Edition Volume 1
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 2 463-959           The National Dean's List 1987-88 11th Edition Volume 2
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 2 317-119           The National Dean's List 1986-87 10th Edition
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 2 011-683           The National Dean's List 1985-86 9th Edition
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 1 711-881           The National Dean's List 1984-85 8th Edition
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 1 596-311           The National Dean's List 1983-84 7th Edition
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 1-253-069           The National Dean's List 6th Edition
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 1-057-142           The National Dean's List 5th Edition
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 821-905             The National Dean's List 4th Edition
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 727-542             The National Dean's List 3rd Edition
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 727-541             The National Dean's List 2nd Edition
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     U.S. Copyright No.             TX 210-053             The National Dean's List
-----------------------------------------------------------------------------------------------------------------------------------

-----------------------------------------------------------------------------------------------------------------------------------
<Caption>
                        UNREGISTERED COPYRIGHTS:                              DESCRIPTION:
-----------------------------------------------------------------------------------------------------------------------------------
<S>                     <C>                            <C>                    <C>
ECI                                                                           Database(s) of the identity of and information
                                                                              pertaining to customers
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     Application submitted to                              Who's Who Among American High School Students
                        Copyright Office                                      2000-2001 (35th Edition) Volume I
</Table>

<Page>

<Table>
<Caption>
                        UNREGISTERED COPYRIGHTS:                              DESCRIPTION:
-----------------------------------------------------------------------------------------------------------------------------------
<S>                     <C>                                                   <C>
ECI                     APPLICATION SUBMITTED TO                              Who's Who Among American High School Students
                        COPYRIGHT OFFICE                                      2000-2001 (35th Edition) Volume II
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     APPLICATION SUBMITTED TO                              Who's Who Among American High School Students
                        COPYRIGHT OFFICE                                      2000-2001 (35th Edition) Volume III
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     APPLICATION SUBMITTED TO                              Who's Who Among American High School Students
                        COPYRIGHT OFFICE                                      2000-2001 (35th Edition) Volume IV
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     APPLICATION SUBMITTED TO                              Who's Who Among American High School Students
                        COPYRIGHT OFFICE                                      2000-2001 (35th Edition) Volume V
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     APPLICATION SUBMITTED TO                              Who's Who Among American High School Students
                        COPYRIGHT OFFICE                                      2000-2001 (35th Edition) Volume VI
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     APPLICATION SUBMITTED TO                              Who's Who Among American High School Students
                        COPYRIGHT OFFICE                                      2000-2001 (35th Edition) Volume VII
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     APPLICATION SUBMITTED TO                              Who's Who Among American High School Students
                        COPYRIGHT OFFICE                                      2000-2001 (35th Edition) Volume VIII
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     APPLICATION SUBMITTED TO                              Who's Who Among American High School Students
                        COPYRIGHT OFFICE                                      2000-2001 (35th Edition) Volume IX
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     APPLICATION SUBMITTED TO                              Who's Who Among American High School Students
                        COPYRIGHT OFFICE                                      2000-2001 (35th Edition) Volume X
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     APPLICATION SUBMITTED TO                              Who's Who Among American High School Students
                        COPYRIGHT OFFICE                                      2000-2001 (35th Edition) Volume XI
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     APPLICATION SUBMITTED TO                              Who's Who Among American High
                        COPYRIGHT OFFICE                                      School Students 2000-2001 (35th Edition) Volume XII
</Table>

<Page>

<Table>
<Caption>
                        UNREGISTERED COPYRIGHTS:                              DESCRIPTION:
-----------------------------------------------------------------------------------------------------------------------------------
<S>                     <C>                                                   <C>
ECI                     Application submitted to                              Who's Who Among American High
                        Copyright Office                                      School Students 2000-2001 (35th Edition) Volume XIII
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     Application submitted to                              Who's Who Among American High
                        Copyright Office                                      School Students 2000-2001 (35th Edition) Volume XIV
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     Application submitted to                              Who's Who Among American High
                        Copyright Office                                      School Students 2000-2001 (35th Edition) Volume XV
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     Application submitted to                              Who's Who Among American High
                        Copyright Office                                      School Students 2000-2001 (35th Edition) Volume XVI
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     Application submitted to                              Who's Who Among American High
                        Copyright Office                                      School Students 2000-2001 (34th Edition) Volume XVII
-----------------------------------------------------------------------------------------------------------------------------------
ECI                     Application submitted to                              Who's  Who  Among   American   High  School   Students
                        Copyright Office                                      2000-2001 (35th Edition) Volume XVIII
-----------------------------------------------------------------------------------------------------------------------------------
<Caption>
OBLIGOR                                                                       INTERNET DOMAIN NAME:
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
<S>                                                                           <C>
Taylor                                                                        taylorpub.com
-----------------------------------------------------------------------------------------------------------------------------------
Taylor                                                                        taylorreunions.net
-----------------------------------------------------------------------------------------------------------------------------------
Taylor                                                                        taylorreunions.com
-----------------------------------------------------------------------------------------------------------------------------------
Taylor                                                                        taylorreunion.com
-----------------------------------------------------------------------------------------------------------------------------------
Taylor                                                                        taylorreunion.net
-----------------------------------------------------------------------------------------------------------------------------------
Taylor                                                                        taylorpublishing.com
-----------------------------------------------------------------------------------------------------------------------------------
Taylor                                                                        taylorpublishing.net
-----------------------------------------------------------------------------------------------------------------------------------
Taylor                                                                        taylorpublishing.org
-----------------------------------------------------------------------------------------------------------------------------------
Taylor                                                                        taylorreunionservices.com
-----------------------------------------------------------------------------------------------------------------------------------
Taylor                                                                        taylorreunionservices.net
-----------------------------------------------------------------------------------------------------------------------------------
Taylor                                                                        tayloryearbooks.com
-----------------------------------------------------------------------------------------------------------------------------------
Taylor                                                                        tayloryearbooks.net
-----------------------------------------------------------------------------------------------------------------------------------
Taylor                                                                        tayloryearbooks.org
-----------------------------------------------------------------------------------------------------------------------------------
Taylor                                                                        yearbookpaymentcenter.com

</Table>

<Page>

<Table>
<Caption>
OBLIGOR                                                                       INTERNET DOMAIN NAME:
-----------------------------------------------------------------------------------------------------------------------------------
<S>                     <C>                           <C>                     <C>
Taylor                                                                        yearbookpaymentcenter.net
-----------------------------------------------------------------------------------------------------------------------------------
Taylor                                                                        yearbookpaymentcenter.org
-----------------------------------------------------------------------------------------------------------------------------------
Taylor                                                                        yearzine.com
-----------------------------------------------------------------------------------------------------------------------------------
Taylor                                                                        ordermyyearbook.com
-----------------------------------------------------------------------------------------------------------------------------------
Taylor                                                                        ordermyyearbook.net
-----------------------------------------------------------------------------------------------------------------------------------
Taylor                                                                        ordermyyearbook.org
-----------------------------------------------------------------------------------------------------------------------------------
Taylor                                                                        reunionmates.com
-----------------------------------------------------------------------------------------------------------------------------------
Taylor                                                                        commemorativebrands.com
-----------------------------------------------------------------------------------------------------------------------------------
Taylor                                                                        commemorativebrands.net
-----------------------------------------------------------------------------------------------------------------------------------
Taylor                                                                        commemorativebrands.org
-----------------------------------------------------------------------------------------------------------------------------------
Taylor                                                                        commemorativeedition.com
-----------------------------------------------------------------------------------------------------------------------------------
Taylor                                                                        commemorativeedition.net
-----------------------------------------------------------------------------------------------------------------------------------
Taylor                                                                        commemorativeedition.org
-----------------------------------------------------------------------------------------------------------------------------------
Taylor                                                                        commemorativeeditions.com
-----------------------------------------------------------------------------------------------------------------------------------
Taylor                                                                        commemorativeeditions.net
-----------------------------------------------------------------------------------------------------------------------------------
Taylor                                                                        commemorativeeditions.org
-----------------------------------------------------------------------------------------------------------------------------------
Taylor                                                                        buymyyearbook.com
-----------------------------------------------------------------------------------------------------------------------------------
Taylor                                                                        buymyyearbook.net
-----------------------------------------------------------------------------------------------------------------------------------
Taylor                                                                        buymyyearbook.org
-----------------------------------------------------------------------------------------------------------------------------------
Taylor                  Available                     Not Ours                taylorfinebooks.com
-----------------------------------------------------------------------------------------------------------------------------------
CBI                                                                           cbi-graphics.com
-----------------------------------------------------------------------------------------------------------------------------------
CBI                                                                           graduationrings.com
-----------------------------------------------------------------------------------------------------------------------------------
CBI                                                                           artcarved.com
-----------------------------------------------------------------------------------------------------------------------------------
CBI                                                                           balfoursports.com
-----------------------------------------------------------------------------------------------------------------------------------
CBI                                                                           balfour-sports.com
-----------------------------------------------------------------------------------------------------------------------------------
CBI                                                                           balfourgrad.com
-----------------------------------------------------------------------------------------------------------------------------------
CBI                                                                           cbi-insignia.com
-----------------------------------------------------------------------------------------------------------------------------------
CBI                                                                           balfour.com
-----------------------------------------------------------------------------------------------------------------------------------
CBI                                                                           cbi-vpn.com
-----------------------------------------------------------------------------------------------------------------------------------
CBI                                                                           rjohns.com
-----------------------------------------------------------------------------------------------------------------------------------
CBI                                                                           cbi-inet.com
-----------------------------------------------------------------------------------------------------------------------------------
CBI                                                                           myring.com
-----------------------------------------------------------------------------------------------------------------------------------
CBI                                                                           artcarvedhigh.com
-----------------------------------------------------------------------------------------------------------------------------------
CBI                     Owned                         Not Ours                irings.com
-----------------------------------------------------------------------------------------------------------------------------------
CBI                                                                           artcarvedgrad.com
-----------------------------------------------------------------------------------------------------------------------------------
CBI                                                                           cbi-rings.com
-----------------------------------------------------------------------------------------------------------------------------------
CBI                                                                           celebrationsoflife.com
-----------------------------------------------------------------------------------------------------------------------------------
CBI                                                                           iclassring.com
-----------------------------------------------------------------------------------------------------------------------------------
CBI                                                                           iclassrings.com
-----------------------------------------------------------------------------------------------------------------------------------
CBI                                                                           highschoolclassring.com
-----------------------------------------------------------------------------------------------------------------------------------
CBI                                                                           highschoolclassrings.com
-----------------------------------------------------------------------------------------------------------------------------------
CBI                     Owned                         Not Ours                graduations.com
-----------------------------------------------------------------------------------------------------------------------------------
CBI                     Available                     Not Ours                celebrationrings.com
-----------------------------------------------------------------------------------------------------------------------------------
CBI                     Available                     Not Ours                virginiatech2000.com
</Table>

<Page>

<Table>
<Caption>
OBLIGOR                                                                       INTERNET DOMAIN NAME:
-----------------------------------------------------------------------------------------------------------------------------------
<S>                     <C>                           <C>                     <C>
CBI                                                                           artcarved.cc
----------------------------------------------------------------------------------------------------------------------------------
CBI                                                                           myclassrings.cc
----------------------------------------------------------------------------------------------------------------------------------
CBI                                                                           highschoolclassring.cc
----------------------------------------------------------------------------------------------------------------------------------
CBI                                                                           classring.cc
----------------------------------------------------------------------------------------------------------------------------------
CBI                     Available                     Not Ours                aboutofficialring.com
----------------------------------------------------------------------------------------------------------------------------------
CBI                                                                           officialringonline.com
----------------------------------------------------------------------------------------------------------------------------------
CBI                                                                           officialring.net
----------------------------------------------------------------------------------------------------------------------------------
CBI                     Available                     Not Ours                cbiwebjam.net
----------------------------------------------------------------------------------------------------------------------------------
CBI                                                                           officialringcentral.com
----------------------------------------------------------------------------------------------------------------------------------
CBI                                                                           officialring.org
----------------------------------------------------------------------------------------------------------------------------------
CBI                                                                           e-officialring.com
----------------------------------------------------------------------------------------------------------------------------------
CBI                                                                           myofficialring.com
----------------------------------------------------------------------------------------------------------------------------------
CBI                                                                           officialring.com
----------------------------------------------------------------------------------------------------------------------------------
CBI                     Available                     Not Ours                cbiwebjam.com
----------------------------------------------------------------------------------------------------------------------------------
ECI                                                                           deans-list.com(7)
----------------------------------------------------------------------------------------------------------------------------------
ECI                                                                           eci-online.com
----------------------------------------------------------------------------------------------------------------------------------
ECI                                                                           eci-scholar.com
----------------------------------------------------------------------------------------------------------------------------------
ECI                                                                           ecisucks.com
----------------------------------------------------------------------------------------------------------------------------------
ECI                                                                           eci-whoswho.com
----------------------------------------------------------------------------------------------------------------------------------
ECI                                                                           eci-whoswho.cc
----------------------------------------------------------------------------------------------------------------------------------
ECI                                                                           honoring.cc
----------------------------------------------------------------------------------------------------------------------------------
ECI                                                                           honoring.com
----------------------------------------------------------------------------------------------------------------------------------
ECI                                                                           honoring.net
----------------------------------------------------------------------------------------------------------------------------------
ECI                                                                           honoring.org
----------------------------------------------------------------------------------------------------------------------------------
ECI                                                                           whos-who.com
----------------------------------------------------------------------------------------------------------------------------------
ECI                                                                           whoswho-hs.com
----------------------------------------------------------------------------------------------------------------------------------
ECI                                                                           whoswhosucks.com
----------------------------------------------------------------------------------------------------------------------------------
ECI                                                                           whoswho-teachers.com
----------------------------------------------------------------------------------------------------------------------------------
ECI                                                                           ECSF.org
----------------------------------------------------------------------------------------------------------------------------------
CBI                     Add                                                   Artcarved.biz
----------------------------------------------------------------------------------------------------------------------------------
CBI                     Add                                                   Artcarved.info
----------------------------------------------------------------------------------------------------------------------------------
CBI                     Add                                                   Artcarvedbridal.com
----------------------------------------------------------------------------------------------------------------------------------
CBI                     Add                                                   Artcarvedwedding.com
----------------------------------------------------------------------------------------------------------------------------------
CBI                     Add                                                   Balfour.biz
----------------------------------------------------------------------------------------------------------------------------------
CBI                     Add                                                   Balfour.info
----------------------------------------------------------------------------------------------------------------------------------
CBI                     Add                                                   Keepsakediamond.com
----------------------------------------------------------------------------------------------------------------------------------
CBI                     Add                                                   Artcarveddiamond.com
----------------------------------------------------------------------------------------------------------------------------------
CBI                     Add                                                   Balfour-rings.com
----------------------------------------------------------------------------------------------------------------------------------
CBI                     Add                                                   Taylorpublishing.biz
----------------------------------------------------------------------------------------------------------------------------------
CBI                     Add                                                   Taylorpublishing.info
----------------------------------------------------------------------------------------------------------------------------------

-----------------------

(7)  Although registered on behalf of the Company, Network Solutions' WHOIS
     database lists the registrant for the domain names DEANS-LIST.COM,
     ECI-SCHOLAR.COM, WHOS-WHO.COM AND WHOSWHO-TEACHERS.COM AS "whos who in
     american high schools".

<Page>

CBI                     Add                                                   Taylorpublishingcommercial.com
----------------------------------------------------------------------------------------------------------------------------------
</Table>

<Page>

                               DISCLOSURE SCHEDULE

                                   ITEM 6.4(c)

                       INTELLECTUAL PROPERTY INFRINGEMENT

          EDUCATIONAL COMMUNICATIONS, INC.

          1. Incorporated here by reference are items 2 and 3 of ITEM 6.7 of the
Disclosure Schedule to the Credit Agreement.

          2. ECI received a letter from the American Library Association ("ALA")
dated June 29, 2000 alleging that ECI was misusing the name of the ALA. On July
11, 2000, ECI sent the ALA a response to its letter. ECI subsequently received a
letter dated September 6, 2000 from the ALA stating that ECI's response in its
July 11, 2000 letter was unsatisfactory. On September 28, 2000, counsel for ECI
sent a letter to counsel for the ALA indicating that ECI had elected to cease
the activities discussed in the ALA's letters. Since the mailing of the
September 28, 2000 letter, neither counsel for ECI nor ECI has had any
additional communications with the ALA. Obligors represent and warrant that this
matter could not reasonably be expected to have a Material Adverse Effect.

<Page>

                               DISCLOSURE SCHEDULE

                                    ITEM 6.7

                                   LITIGATION

          1. Incorporated here by reference are items 1, 3, 4 and 5 of ITEM 6.15
of the Disclosure Schedule to the Credit Agreement.

          2. On March 19, 1999, William Kannanack, counsel for National
Educational Publications, Inc., a Florida corporation, and defendant in certain
copyright and unfair competitions actions subsequently brought by the
Educational Communications Scholarship Foundation (the "Foundation"), alleged
that certain of the practices of American Student List Company, Inc. and ECI not
renting the use of jointly developed names to third parties was actionable under
the Sherman Act. On March 29, 1999, after consultation with antitrust counsel
for ECI (Arnold & Porter, which previously had issued a written opinion to ECI
relating to this practice), ECI counsel spoke with Mr. Kannanack by telephone
regarding his allegations and informed Mr. Kannanack that his allegations were
without merit. Since that telephone call, no additional communications have been
had with Mr. Kannanack regarding his allegations. The Borrower represents and
warrants that this matter could not reasonably be expected to have a Material
Adverse Effect.

          3. In connection with litigation brought in 1999 in the District Court
for the Western District of Missouri by NRCCUA and SRI against Educational
Research Center of America, Inc. ("ERCA"), Jan Stumacher, principal of ERCA,
Rhina International, Inc. and Student Marketing Group, Inc., threatened
litigation involving ECI's, American Student List Company, Inc.'s, NRCCUA's and
SRI's practice of not renting the use of jointly developed names to third
parties. The District Court denied NRCCUA's and SRI's motion for a preliminary
injunction against ERCA and NRCCUA and SRI subsequently moved to dismiss the
action with prejudice. ERCA filed a motion to recover attorneys' fees and costs.
The District Court denied ERCA's motion. The period for filing appeals in this
action has passed. There has been no further communications between the parties
on this matter. The Borrower represents and warrants that this matter could not
reasonably be expected to have a Material Adverse Effect.

          4. Incorporated here by reference is item 2 of ITEM 6.4(c)
(Intellectual Property Infringement) of the Disclosure Schedule to the Credit
Agreement.

<Page>

                               DISCLOSURE SCHEDULE

                                    ITEM 6.10

                              ENVIRONMENTAL MATTERS

          1. Phase I Environmental Site and Regulatory Assessment for facility
located on Railroad Drive, El Paso, Texas, prepared by Malcolm Pirnie, Inc.,
dated November 3, 1999.

          2. Phase I Environmental Site and Regulatory Assessment for facility
located on Dyer Street, El Paso, Texas, prepared by Malcolm Pirnie, Inc., dated
November 3, 1999.

          3. Phase I Environmental Site and Regulatory Assessment for facility
located in San Angelo, Texas, prepared by Malcolm Pirnie, Inc., dated November
3, 1999.

          4. Phase I Environmental Site and Regulatory Assessment for facility
located in Dallas, Texas, prepared by Malcolm Pirnie, Inc., dated November 3,
1999.

          5. Phase I Environmental Site and Regulatory Assessment for facility
located in Malvern, Pennsylvania, prepared by Malcolm Pirnie, Inc., dated
November 3, 1999.

          6. Phase I Environmental Site Assessment and Compliance Review for
facility located on Osborne Drive, El Paso, Texas, prepared by GaiaTech
Incorporated, dated July 14, 2000.

          7. Phase I Environmental Site Assessment and Compliance Review for
facility located on Intermodal Drive, Louisville, Kentucky, prepared by GaiaTech
Incorporated, dated July 13, 2000.

          8. Phase I Environmental Site Assessment and Compliance Review for
facility located on Circle S Road, Austin, Texas, prepared by GaiaTech
Incorporated, dated July 13, 2000.

<Page>

                               DISCLOSURE SCHEDULE

                                    ITEM 6.15

                             INVESTIGATIONS; AUDITS

          1. Taylor General Partner and Taylor are currently under audit by the
Internal Revenue Service for the tax periods January 1, 1991 through December
31, 1998. Various adjustments (as detailed below) have been proposed by the
Internal Revenue Service relating to Taylor General Partner and Taylor. Taylor
General Partner and Taylor agree with these adjustments. Pursuant to the
Purchase Agreement dated as of December 17, 1999 by and among Taylor Holding
Co., Taylor General Partner and Insilco Corporation (the "Purchase Agreement"),
Insilco Corporation has agreed to indemnify Existing Borrowers for any liability
resulting from this audit). The expected completion of the audit is 60-90 days
from March 2002.

The amount of the proposed adjustments (not the resulting tax) is as follows:

<Table>

                  <S>               <C>
                  1991              $  2,026,920
                  1992              $   (106,585)
                  1993              $    169,313
                  1994              $    229,482
                  1996              $    161,456
                  1997              $       0.00
                  1998              $       0.00
</Table>

          2. Waivers of statutes of limitations: Taylor General Partner and
Taylor have granted statute waivers to the Internal Revenue Service for the
years 1991, 1992, 1993, 1994, 1995 and 1996 until September 30, 2001. The year
1997 has been extended until September 30, 2002 and the year 1998 has not been
extended.

          3. The State of Michigan sales tax audit of Taylor General Partner for
the period January, 1, 1996 through October 31, 1999 resulted in a zero
assessment. The State of Michigan Single Business Tax audit for the period of
December 31, 1999 resulted in an assessment of $38,918, which Insilco
Corporation has appealed to the State of Michigan. Pursuant to the Purchase
Agreement, Insilco Corporation has agreed to indemnify Existing Borrowers for
any assessment resulting from this audit.

          4. Commemorative Brands, Inc. has been notified by the State of
Kentucky that it intends to audit the tax periods January 1998 through July 2002
starting in September of 2002.

          5. In a letter dated January 29, 2002, Educational Communications,
Inc.("ECI") was notified by the Federal Trade Commission ("FTC") that, with
respect to ECIs'

<Page>

role in a survey conducted by the National Research Center for College and
University Admissions ("NRCCUA"), the FTC is requesting copies of agreements,
contracts, correspondence or other documents relating to the relationship
between (i) ECI and Student Research, Inc. ("SRI"), who owns the NRCCUA trade
name and trademark, (ii) ECI and/or SRI and NRCCUA, and (iii) ECI and/or SRI and
American Student Lists, who, together with ECI, funds the NRCCUA survey. ECI is
in the process of providing the requested data as of the Closing Date.

<Page>

                               DISCLOSURE SCHEDULE

                                    ITEM 6.16

                               EMPLOYMENT MATTERS

          UNION CONTRACTS

          1. Management Union Agreement between Taylor and Graphic
Communications International Union Local 367M, effective February 28, 2000
through March 5, 2004.

          2. Management Union Agreement between Taylor General Partner and
Graphic Communications International Union Local 367M, effective July 3, 2000
through July 7, 2003.

          3. Agreement between CBI and Local Union No. 1751, Southern Council of
Industrial Workers, United Brotherhood of Carpenters and Joiners of America,
AFL-CIO, effective June 1, 2000 through May 31, 2003.

          EMPLOYEE GRIEVANCES

          4. None.

          EMPLOYMENT CONTRACTS

          5. Employment Agreement between CBI and David Fiore, dated July 13,
1999 and effective August 2, 1999, and as amended and effective on February 1,
2002.

          6. Employment Agreement between CBI and Sherice P. Bench dated as of
December 16, 1996.

          7. Employment Agreement between CBI and Parke H. Davis, dated as of
December 16, 1996.

          8. Employment Agreement between CBI and Norman C. Smith, dated as of
January 14, 2000.

          9. Employment Agreement between CBI and Donald J. Percenti, dated as
of December 16, 1996.

          10. Employment Agreement between CBI and Charlyn Cook, dated as of
December 16, 1996.

          11. Employment Agreement between ECI and Paul C. Krouse, dated as of
March 30, 2001, and as amended and restated on September 1, 2001.

<Page>

          12. Employment Agreement between ECI and Ann W. Krouse, dated as of
March 30, 2001, as amended and restated on September 1, 2001.

<Page>

                               DISCLOSURE SCHEDULE

                                   ITEM 7.1.3

                      MAINTENANCE OF PROPERTIES; INSURANCE

A. MAINTENANCE OF PROPERTIES

          Samples, promotional materials and other similar items of property,
may not be at the locations referred to below. Such property, which constitutes
approximately 1-2% of the total amount of property owned by the Obligors, are at
various locations of vendors (including sales representatives and college
bookstores).

AMERICAN ACHIEVEMENT CORPORATION

          OFFICE LOCATION: 7211 Circle S Road, Austin, TX 78745

COMMEMORATIVE BRANDS, INC. AND CBI NORTH AMERICA, INC.

          OWNED PROPERTY:

          1. 7211 Circle S Road, Austin, TX 78745

          LEASED PROPERTY (applies to Commemorative Brands, Inc. only; CBI North
America, Inc. does not have any leased properties):

          1. 7101 Intermodal Drive, Louisville, KY

          2. 6404 Burleson Road, Suite 120, Austin, TX

          3. 4605 Osborn, El Paso, TX

          4. Fulton #820, Parque Industrial Antonio J. Bermudez, Juarez,
             Chihuahua, Mexico

          MANUFACTURER AND REFINERS:

          1.  Stern Leach, Inc., 49 Pearl Street, Attleboro, MA;
              Refiner

          2.  Pease and Curren, Inc., 75 Pennsylvania Avenue, Warwick, RI;
              Refiner

          3.  Hereaus PPM, Inc., 65 Euclid Avenue, Newark, NJ;
              Refiner

<Page>

          4.  Metalor USA Refining Corporation, 225 John Diestch Boulevard,
              North Attleboro, MA;
              Refiner

          5.  OK Casting, 3520 Charleston Road, Norman, OK;
              Contract Manufacturer

          6.  AuraFin Corporation, 770 International Parkway, Sunrise, FL;
              Contract Manufacturer

          7.  Dunhams Jewelry Manufacturing, 7365 Remeon, Suite 8204,
              El Paso, TX;
              Contract Manufacturer

          8.  Richards and West, Inc., 1255 University Avenue, Rochester, NY;
              Contract Manufacturer

          9.  Herbert Stephan, Hauptstrasse 282 Idar-Oberstein Germany
              Contract Manufacturer (manufactures synthetic stones and holds
              approximately $70,000 worth of stones belonging to CBI)

          10. Metech International Inc., 120 Mapleville Main Street, P.O. Box
              500 Mapleville, RI;
              Refiner

          11. Technic Inc., 1 Spectacle Street, Cranston, RI; Fabricator

          12. Angelo, Inc., 8255 Firestone Boulevard, Suite 500, Downey, CA;
              Contract Manufacturer

          13. Sippi Metals, 1720 North Elston Ave, Chicago, IL;
              Refiner

          14. Empresa Plat-Mex, S.A., Rosas Moreno #68 Col. San Rafael, C.P.
              06470 Mexico, D.F. Mexico;
              Contract Manufacturer

          15. AMC Company, 2412 Greenlawn Parkway, Austin, TX Refiner

          16. Carriage Casting, 5935 Cromo Dr., El Paso, TX Contract
              Manufacturer

          17. Henry Marnolejo Jewelry Shop, 4667 Montana Ave., El Paso, TX
              Contract Manufacturer

          18. CBC Jewelry Shop, 5024 Donipahn Drive, Suite 4, El Paso, TX
              Contract Manufacturer

          19. American Mullion, Inc., 125 Selandia Lane, Carson, CA Fabricator

<Page>

TAYLOR PUBLISHING COMPANY

          OWNED PROPERTY:

          1. 1550 W. Mockingbird Lane, Dallas TX.

          LEASED PROPERTY:

          1. 67 Great Valley Parkway, Malvern PA.

          2. 2027 Industrial Avenue, San Angelo TX.

          3. 1821 Knickerbocker Road, San Angelo TX.

          4. 3134 A Executive Drive, San Angelo TX.

          5. 10365 Railroad Drive, El Paso TX.

          WAREHOUSES:

          6. Grand Logistics Services (Owner, Willie Chavez), 10574 King William
Drive, Dallas, TX.

TAYLOR PRODUCTION SERVICES COMPANY, L.P.

          OFFICE LOCATION: 1550 W. Mockingbird Lane, Dallas TX.

EDUCATIONAL COMMUNICATIONS, INC.

          OFFICE LOCATION: 721 N. McKinley Road, Lake Forest, Illinois 60045

          LEASED PROPERTY:

          1. 721 N. McKinley Road, Lake Forest, Illinois 60045. Location of
company headquarters and books and records.

          2. Acorn Self-Storage, Storage Room #5243, 1255 Town Line Road,
Mundelein, Illinois 60060. Houses old computer tapes.

          PRINTERS, MAILING AND FULFILLMENT HOUSES:

          1. Quebecor World, 1133 County Seat, Taunton, MA 02780; Printer.

          2. RR Donnelly, 1145 Conwell Ave., Willard OH 44890; Printer.

          3. RUF Enterprises, 7544 Oakton, Niles, IL 60714; Plaque, Jewelry,
             Patch order fulfillment.

<Page>

          4. International Decal, 3332 Commercial Ave., Northbrook, IL 60062;
             Mugs and Ornaments order fulfillment.

          5. Total Promotions, 1340 Old Skokie Road, Highland Park, IL 60035;
             Portfolios, Pens, Tote Bags fulfillment.

          6. Mailways Enterprises, 6105 Factory Road, Crystal Lake, IL 60014;
             Printed Materials.

          7. Midwest Compuservice, 9800 S. Industrial Drive, Bridgeview, IL
             60455; Printed Materials.

          8. XL Marketing, 845 Bonnie Lane, Elk Grove Village, IL 60007; Printed
             Materials.

          None of the above locations for ECI will at any time have more than
$100,000 worth of inventory or other assets individually, or more than $500,000
worth of inventory or other assets in the aggregate.

TP HOLDING CORP.

          Office Location: 1550 W. Mockingbird Lane, Dallas, TX

TAYLOR SENIOR HOLDING CORP.

          Office Location: 1550 W. Mockingbird Lane, Dallas, TX

B. INSURANCE

SEE ATTACHED COPY OF ENVIRONMENTAL INSURANCE CERTIFICATE.

<Page>

                               DISCLOSURE SCHEDULE

                                   ITEM 7.2.1

                               CONDUCT OF BUSINESS

          PRINTING & PUBLISHING. Taylor General Partner and Taylor manufacture
and sell student-created yearbooks in elementary schools, middle schools, high
schools and colleges. Taylor General Partner and Taylor manufacture and sell
customer-created fine books to governmental entities. Taylor General Partner and
Taylor also print commercial brochures, commercial books, and promotional books
and materials. ECI publishes three educational directories, WHO'S WHO AMONG
AMERICAN HIGH SCHOOL STUDENTS, THE NATIONAL DEAN'S LIST, and WHO'S WHO AMONG
AMERICA'S TEACHERS, which are sold to the individuals honored in each
publication, as well as achievement recognition directories.

          SCHOOL PRODUCTS AND SERVICES. Taylor General Partner and Taylor
distribute and sell school related non-print products and provide management
services to elementary schools, middle schools, high schools and colleges.

          COMPUTER SOFTWARE AND HARDWARE. Taylor General Partner and Taylor
develop and sell computer software and distribute computer hardware and
photographic equipment in conjunction with their printing and publishing
services.

          CLASS RINGS. CBI and CBI North America, Inc. ("CBI-N.A.") produce,
distribute and sell class rings to the high school and college markets.

          FINE PAPER PRODUCTS. CBI produces and markets a variety of fine paper
products, including customized graduation announcements, name cards, thank-you
stationery, business cards, diplomas, mini-diplomas, certificates, appreciation
covers, diploma covers and fine paper accessory items.

          PERSONALIZED FAMILY JEWELRY. CBI and CBI-N.A. produce, distribute and
sell personalized family jewelry, including rings and pendants with children's
names.

          CONSUMER SPORTS JEWELRY. CBI and CBI-N.A. produce, distribute and sell
licensed consumer sports jewelry, made for fans to show support for their
favorite team.

          PROFESSIONAL SPORTS CHAMPIONSHIP JEWELRY. CBI and CBI-N.A. produce,
distribute and sell professional sports championship jewelry to various sports
teams to commemorate accomplishments and achievements such as winning
championship titles.

          RECOGNITION PRODUCTS. CBI and CBI-N.A. produce, distribute and sell
corporate achievement jewelry designed to commemorate accomplishments and
achievements in corporate or business endeavors and to express pride in one's
affiliations with a particular organization. ECI produces and distributes
scholastic achievement products designed to recognize and honor the achievements
of top high school students, college students and teachers.

<Page>

          DIRECT MARKETING. Taylor General Partner, CBI, CBI-N.A. and ECI direct
market products and services. In conjunction with these activities, they engage
in affinity marketing programs and referral services. CBI has license agreements
with Frederick Goldman Corp. for the limited use of its Keepsake and ArtCarved
tradenames and a distribution agreement with Wal-Mart for sale of Keepsake
branded products to be sold through Wal-Mart stores.

<Page>

                               DISCLOSURE SCHEDULE

                                  ITEM 7.2.2(h)

                             INDEBTEDNESS TO BE PAID

ITEM A. INDEBTEDNESS TO BE PAID ON THE CLOSING DATE

          1. Indebtedness outstanding under the Existing Credit Agreement is
$138,734,743.22.

          2. $28,382,918.10 of subordinated debt outstanding is owed to CHP II
under (A) two promissory notes issued by Taylor Holding Co. the aggregate
principal amount of approximately $18,500,000 and (B) a promissory note issued
by the Borrower in the principal amount of approximately $9,200,000.

          3. Settlement amount in the aggregate amount of $1,463,000 will be
paid to The Bank of Nova Scotia on the Closing Date with respect to certain
interest rate swap agreements.

          4. Settlement amount in the aggregate amount of $243,766 will be paid
to Key Bank on the Closing Date with respect to certain interest rate swap
agreements.

ITEM B. ONGOING INDEBTEDNESS

          1.  The outstanding aggregate amount of $1,247,714.53 as of
January 25, 2002 are owed with respect to certain interest rate swap agreements.

          2.  Taylor General Partner has leased from Point Financial certain
telecommunications equipment with lease payments in any one year not exceeding
$29,000. Renewed in February 1, 2002 for 1 year for $16,740.00.

          3.  Konica Business Machines has leased certain Konica Copier Systems
to Taylor General Partner and Taylor with lease payments in any one year not
exceeding $160,000.

          4.  Leasenet, Inc. has leased certain equipment, software, and other
personal property and modifications and additions thereto and replacements and
substitutions therefore to Taylor General Partner with lease payments in any one
year not exceeding $110,000.

          5.  Safeco Credit Co. Inc. DBA SAFELINE Leasing has leased four Yale
Forklifts to Taylor General Partner and Taylor with lease payments in any one
year not exceeding $24,000.

          6.  Neopost Leasing has leased certain mailing, shipping, computing
and other equipment to Taylor General Partner with lease payments in any one
year not exceeding $10,000.

<Page>

          7.  Lucent Technologies has leased certain telephone equipment to
Taylor General Partner and Taylor with lease payments in any one year not
exceeding $8,000.

          8.  Minolta Business Solutions has leased certain Minolta Copier
Systems to Taylor General Partner and Taylor with lease payments in any one year
not exceeding $7,000.

          9.  CBI has leased from AT&T Wireless Services equipment with monthly
service charges for 36 months beginning November 1, 1999 with monthly service
charges not exceeding $12,500.

          10. CBI has leased from The CIT Group a Sunrise Thremography heat unit
for a monthly service charge not to exceed $580.75 for 36 months beginning
November 22, 1999.

          11. CBI has leased from The CIT Group a used Caterpillar Autofeed
Feeder for a monthly service charge of $632.10 for 36 months beginning February
11, 2000.

          12. CBI has leased from The CIT Group a Baum Folder and wet scores for
a monthly service charge not to exceed $775 for 59 months beginning February 11,
2000.

          13. CBI has leased from IKON Office Solutions certain Xerox copiers
for a monthly charge of $7,125 for 48 months beginning October 8, 1999.

          14. CBI has leased from The CIT Group a rebuilt Caterpillar Autofeed
feeder for a monthly service charge of $902.27 for 60 months beginning August
11, 2000.

          15. CBI has leased from Pitney Bowes Credit Corporation certain
postage equipment for a monthly service charge of $325 for three months
beginning July 6, 2000 and $386 for 51 months thereafter.

          16. CBI has leased from Pitney Bowes Credit Corporation certain
postage equipment for a monthly service charge of $150 for 72 months beginning
June 8, 2000.

          17. CBI has contracted with J&J Mechanical for air conditioner
maintenance with a quarterly charge of $990 for 12 months beginning April 30,
2000. Expires April 30, 2001. New contract signed with a quarterly charge of
$1,029.60 for 12 months beginning April 27, 2001. Expires April 27, 2002.

          18. CBI has leased from Fidelity Leasing a Xerox copier for a monthly
charge of $75.11 for 60 months beginning October 7, 1999.

          19. CBI has leased from IKON Office Solutions an OCE 3165 printer for
a monthly charge of $3,752 for 48 months beginning August 26, 1999.

          20. CBI has contracted with IKON Office Solutions for a maintenance
agreement on OCE 3165 for $0.09 per copy beginning August 26, 1999.

          21. CBI has leased from NRD, Inc. a Nuclecel In Line Ionizer for an
annual charge of $177 as of December 16, 1999.

<Page>

          22. CBI has contracted with IOS Capital for two pieces of equipment
(an Encad 700 and a Fiery Wide format controller) for 48 months beginning July
26, 2000 with monthly charges of $815.

          23. CBI has leased from NTFC Capital Corporation telephone services
for 60 months beginning November, 24, 1999 with monthly charges of $4,469.63.

          24. CBI has leased from CCA Financial a 9406-830 AS/400 computer. A
term of 36 months @ $30,846.73 per month commencing May, 2001.

          25. CBI has leased from IKON Office Solutions two (2) OCE 8465
printers. A term of 36 months @ $9,542.22 per month commencing May 31, 2000.

          26. CBI has contracted with IKON Office Solutions for a maintenance
agreement on various printers throughout the company at $0.25 per image. The
term of this agreement is 36 months, commencing on May 31, 2000. The cost for
the first 12 months was $33,600.00.

<Page>

                               DISCLOSURE SCHEDULE

                                  ITEM 7.2.3(j)

                                  ONGOING LIENS

          1.  The software development agreement dated as of April 2, 1996
between Brian Stewart and Taylor General Partner provides: "If this agreement is
terminated by [Taylor General Partner] for any reason other than for cause,
ownership of the software shall be assigned by [Taylor General Partner] to the
Developer, eighteen (18) months after termination of this agreement." In Taylor
General Partner's opinion, Taylor General Partner terminated this agreement for
cause. Mr. Stewart did not complete the development of the Software in a form
and having capabilities acceptable to Taylor General Partner by April 30, 1996.
The Obligors currently have possession of the software developed by Mr. Stewart
but have no present plans to use it in their business, and in the Obligors'
opinion, it is not material to their business.

          2.  Taylor does not have valid legal title to consignment inventory
until it uses the same. Most of Taylor's consignment inventory is made up of
paper, cover paper, cover boards, cover materials and film. Taylor also keeps
plates, ink, foil, tape, various chemicals, art supplies, bindery materials and
other printing press materials as consignment inventory.

          3.  EI DuPont de Nemours & Co. has filed a financing statement which
covers, one WaterProof Proofing System and all present and future attachments,
accessories, replacements, substitutions, modifications, software, equipment and
additions. UCC-1 Financing Statement filed 11/20/95, Texas file number 222140.

          4.  ABV Graphics, Inc. has filed a financing statement covering all of
its inventory consigned to Taylor wherever located on Taylor's premises. UCC-1
Financing Statement filed 2/12/96, Texas file number 027983.

          5.  Point Financial has filed one financing statement giving public
notice of the lease of one DEC 2100 Alpha Configuration and one financing
statement giving public notice of the lease of certain specified items. UCC-1
Financing Statement filed 3/4/97, Texas file number 042555. UCC-1 Financing
Statement filed 1/20/99, Texas file number 99-013243. This lease expired and
Taylor purchased the equipment.

          6.  Konica Business Machines has filed three financing statements
giving public notice of the lease of certain specified Konica Copier Systems.
UCC-1 Financing Statement filed 4/3/97, Texas file number 066155. UCC-1
Financing Statement filed 1/13/98, Texas file number 008641. UCC-1 Financing
Statement filed 8/13/98, Texas file number 98-164723.

          7.  Fuji Photo Film U.S.A., Inc. has filed one financing statement
covering a Colorart CA600P S/N 541224 and a CA680T S/N 5482889 and a second
financing statement covering a Teaneck TFDS-6 S/N 970718. UCC-1 Financing
Statement filed 7/03/97, Texas file number 139669. UCC-1 Financing Statement
filed 8/21/97, Texas file number 175381.

<Page>

          8.  Norwest / Mark of Distinction, has filed a financing statement
covering one Four station folder / inserter sn 10503, one 6 bin collator sn
50100741 and 1072205-1 lls. UCC-1 Financing Statement filed 8/4/97, Texas file
number 162037.

          9.  Leasenet, Inc. has filed a financing statement giving public
notice of the lease of certain equipment, software, and other personal property
and modifications and additions thereto and replacements and substitutions
therefor. UCC-1 Financing Statement filed 10/27/98, Texas file number 98-214825.
This lease expired and the equipment was purchased in December, 2001.

          10. Safeco Credit Co. Inc. DBA SAFELINE Leasing has filed four
financing statements one gives public notice of the lease of a 1998 Yale
Forklift, the other three each give public notice of the lease of a separate
1999 Yale Forklift. UCC-1 Financing Statements filed 3/10/99, Texas file numbers
99-048120, 99-048147 and 99-048210. UCC-1 Financing Statement filed 4/30/99,
Texas file number 99-087072.

          11. Transilwrap Company, Inc. has filed a financing statement covering
rolls of plastic film products labeled "Transkote" 22 inch. UCC-1 Financing
Statement filed 4/26/99, Texas file number 99-084207.

          12. NMHG Financial Services, Inc. has filed a financing statement
covering one new Yale Forklift GP040; and all accessions, additions,
replacements and substitutions thereto and therefor and all proceeds, including
insurance proceeds, thereof. UCC-1 Financing Statement filed 6/29/99, Texas file
number 99-132413.

          13. Neopost Leasing has filed a financing statement against certain
mailing, shipping, computing and other equipment which they lease to Taylor
Publishing. UCC-1 Financing Statement filed 4/17/95, Texas file number 075515.

          14. The title search for 1550 West Mockingbird Lane, Dallas, revealed
several easements over the property including an oil pipeline right-of-way
granted to Sinclair Refining Company in 1946 which was assigned to ARCO Pipe
Line Company in 1992. See attached Title Search.

          15. Williams Communications Systems, Inc. has filed financing
statements against certain telephone equipment and systems which they lease to
CBI in Kentucky and Texas. UCC-1 Financing Statement filed 12/12/96, Kentucky
file number 97-10285; UCC-1 Financing Statement filed 10/31/97, Texas file
number 224860. We lease our telephone equipment from NTFC Capital Corporation
for the Kentucky facility. Maintenance with Williams Communications Systems is
included in the lease. We own the equipment at the Austin facility and the
maintenance is provided by Southwestern Bell.

          16. Fidelity Leasing Inc. has filed financing statements against
certain specified office equipment which they lease to CBI, located in Kentucky
and Texas. UCC-1 Financing Statement filed 1/21/98, Kentucky file number
98-00550; UCC-1 Financing Statement filed 10/22/99, Texas file number 99-214342.

<Page>

          17. Computer Sales International has filed a financing statement
against certain computer equipment which they lease to CBI. UCC-1 Financing
Statement filed 2/18/97, Massachusetts file number 449181.

          18. IBM Credit Corporation has filed a financing statement against
certain computer equipment which they lease to CBI. UCC-1 Financing Statement
filed 10/22/97, Texas file number 218159. This lease has expired.

          19. Copelco Capital has filed a financing statement against certain
computer equipment which they lease to CBI. UCC-1 Financing Statement filed
11/3/97, Texas file number 226840.

          20. Pitney Bowes Credit Corporation has filed a financing statement
against certain postage equipment which they lease to CBI. UCC-1 Financing
Statement filed 9/28/98, Texas file number 98-194106.

          21. IKON Office Solutions has filed financing statements against
certain office equipment which they lease to CBI. UCC-1 Financing Statements
filed:

<Table>
<Caption>
        DATE OF FILING                    TEXAS FILE NUMBER
<S>     <C>                               <C>
            1/6/98                               003834
           5/20/98                            98-103509
           9/16/98                            98-187263
           2/22/99                            99-035745
           11/1/99                            99-219754
</Table>

          22. Sovereign Bank has been assigned rights under financing statements
filed in Connecticut and Massachusetts by Rhode Island Hospital Trust National
Bank ("Consignor") against CBI ("Consignee") with respect to all gold which is
at any time consigned by the Consignor to or for the account of Consignee, and
all proceeds and products thereof. These financing statements will be terminated
within 30 days of the Closing Date.

<Table>
<Caption>
    STATE OF FILING         ASSIGNMENT FILE              DATE OF           DATE OF ORIG      ORIG UCC-1 FILE
                                 NUMBER                 ASSIGNMENT         UCC-1 FILING          NUMBER
                                                         FILING
<S>                         <C>                         <C>                <C>               <C>
      Connecticut              0002013693                8/3/00             12/20/96            0001739005
     Massachusetts               735145                  8/3/00             12/19/96                437108
</Table>

          23. The Bank of Nova Scotia has filed financing statements against CBI
with respect to all gold and processed gold of any quality or fineness, whether
now existing or hereafter acquired, located from time to time at certain plants,
and all proceeds thereof (Letter Agreement dated 7.27.00). UCC-1 Financing
Statements filed:

<Table>
<Caption>
            STATE OF FILING              DATE OF FILING                FILE NUMBER
<S>                                      <C>                           <C>
              Connecticut                     8/8/00                     0002014413
               Delaware                      8/30/00                    20000057057
                Florida                       8/4/00                   200000179657
</Table>

<Page>

<Table>
<Caption>
            STATE OF FILING              DATE OF FILING              FILE NUMBER
<S>                                      <C>                         <C>
            Kentucky (SOS)                    8/7/00                     1604279
       Kentucky (Jefferson Cty)               8/9/00                     0006629
          Massachusetts (SOS)                 8/4/00                      735634
    Massachusetts (Attleboro Town)            8/4/00                       347-M
              New Jersey                      8/4/00                     1990478
            New York (SOS)                    8/4/00                      152596
         New York (Monroe Cty)               8/10/00                 2000-005069
        Oklahoma (Oklahoma Cty)               8/7/00                     0042678
          Rhode Island (SOS)                 8/12/00                      716248
</Table>

          24. Wells Fargo Financial Leasing, Inc. has filed a financing
statement against certain copying equipment which they lease to Taylor General
Partner. UCC-1 Financing Statement filed 12/28/00, Texas file number 00650636.

          25. MBO Binder and Co. of America, Inc. has filed a financing
statement against certain folding machines which they lease to Taylor General
Partner. UCC-1 Financing Statement filed 1/3/00, Texas file number 01-00001961.

          26. Xerox Corporation has filed a financing statement against certain
copying equipment which they lease to Taylor General Partner. UCC-1 Financing
Statement filed 2/5/01, Texas file number 01-00023971.

<Page>

                               DISCLOSURE SCHEDULE

                                  ITEM 7.2.5(k)

                               ONGOING INVESTMENTS

          CBI:

          1. 27,000 shares of capital stock of Nakagawa - John Roberts,
Incorporated, incorporated in Japan. 288,000 shares of common stock, 500 yen per
share par value authorized, of which 108,000 are issued and outstanding

<Page>

                               DISCLOSURE SCHEDULE

                                  ITEM 7.2.8(c)

                         EXISTING CONTINGENT LIABILITIES

          1. Westvaco entered into a Consignment Agreement, at the request of
Taylor General Partner, with regard to Westvaco products that provides for
indemnification of Westvaco by Taylor General Partner and Taylor for liability
arising from death or injury to any person from the unloading, storing,
transferring or handling of any of Westvaco's inventory stored on Taylor's
facilities. This indemnification is limited by the amounts set forth in the
applicable workers' compensation statutes. Westvaco provides paper products and
the likelihood of liability under this agreement is negligible.

          2. Taylor Holding Co. Guaranty dated March 19, 2001 in favor of the
holders defined therein, executed in connection with the Agreement dated March
19, 2001 between CBI and Angelo, Gordon and Co., L.P. and agreed to by Taylor
Holding Co.

          3. Guaranty by TP Holding Corp. in favor of certain holders of notes
issued under the Indenture dated December 16, 1996 between Commemorative Brands,
Inc. and HSBC Bank USA as Trustee, as amended.

<Page>

                               DISCLOSURE SCHEDULE

                                   ITEM 7.2.13

                                 MANAGEMENT FEES

MANAGEMENT FEE. Pursuant to the Management Agreement dated as of March 30, 2001,
by and among CHI, CBI Holding Co., ECI, Taylor Holding Co. and Taylor General
Partner, and subject to the following sentence, the parties to such agreement
shall pay to CHI an annual management fee of $3,000,000 commencing fiscal year
2002 (the "Management Fee") and the Out-of-Pocket Expenses (as that term is
defined therein). The Management Fee will be paid on a quarterly basis in
arrears, payable on the last business day of each fiscal quarter commencing on
the last business day of the fiscal quarter following the Closing Date.

<Page>

                                                                     SCHEDULE II

PERCENTAGES;
LIBOR OFFICE;
DOMESTIC OFFICE

NAME AND NOTICE ADDRESS
DOCUMENTATION AGENT

Bankers Trust Company
31 West 52nd, 7th Floor
Mail Stop NYC01-0705
New York, NY 10019

Attention: Mary Kay Coyle
Fax: (646) 324 7456

SYNDICATION AGENT

General Electric Capital Corporation
335 Madison Avenue, 12th Floor
New York, NY 10017

Attention: George Curteson
Fax: (212) 370 8066

ADMINISTRATIVE AGENT/ISSUER

The Bank of Nova Scotia
Suite 3000, 1100 Louisiana Street
Houston, TX 77002

Attention: Richard Bartolo
Fax: (713) 752 2425

<Page>

<Table>
<Caption>
PERCENTAGE
---------------------------------------------
<S>                               <C>
Revolving Loan Commitment

The Bank of Nova Scotia           $20,000,000

General Electric Capital          $12,000,000
Corporation

Bankers Trust Company             $ 8,000,000
                                  -----------
                                    total 100%
</Table>

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