Document:

EXHIBIT 10.1

                              GLOBAL ACCOUNT TERMS

                            DEPOSIT ACCOUNT AGREEMENT

     The Bank of New York, in its capacity as trustee of the CurrencyShares
Swedish Krona Trust, a trust formed under New York law (the "Customer" or
"Trust") and the London Branch of JPMorgan Chase Bank, N.A. (the "Bank")
undertake to comply with and be bound by the following Global Account Terms of
this Deposit Account Agreement (the "Agreement").

ESTABLISHING ACCOUNTS

1.1  The Customer's Swedish Krona-denominated, (i) interest-bearing account (the
     "Interest Account") and (ii) non interest-bearing account ( the
     "Non-Interest Account") (each individually the "Account" and collectively
     the "Accounts") maintained with the Bank shall be subject to these Global
     Account Terms (the "Account Terms") and the Account Application and the
     Signature List executed by the Customer regarding the Accounts attached
     hereto (together, the "Account Applications"); and, by continuing to use
     the Accounts, the Customer acknowledges its acceptance of these Account
     Terms and the relevant Account Applications.

1.2  Unless otherwise specified, the Customer will establish the Accounts as
     principal. The Customer shall not transfer any of its rights and interests
     in the Accounts nor create any form of security interest over such rights
     and interests without the prior written consent of the Bank.

1.3  The Customer represents and warrants that it has power and capacity to open
     and operate the Accounts, that the Account Terms and the relevant Account
     Applications constitute valid and binding obligations of the Customer and
     that the Customer has taken all necessary actions to duly authorize the
     execution and delivery of the same.

SIGNATORIES

2.1  "Signatory" means a person named in the relevant Account Application (or
     other analogous document under which the Customer authorises persons to
     communicate with the Bank in relation to the Accounts) who is authorised to
     act on behalf of the Customer at the time of the relevant Instruction (as
     defined in Section 4.1) and in respect of the matters set out in clause 3
     below.

2.2  The Bank may treat any Signatory as duly authorised to issue Instructions
     until the Bank receives written notice from the Customer, after which the
     Bank shall act promptly, that the Signatory no longer has the authority to
     issue Instructions.

2.3  The Customer will provide specimen signatures (including specimens of
     facsimile signatures and/or personal seals) to the Bank (in the Account
     Application or otherwise) in the number and form required and will verify
     the identity of each Signatory in a manner required by the Bank.

AUTHORITY OF SIGNATORIES

3.1  Each Signatory, subject to any written limitation received by the Bank from
     the Customer, is authorised on behalf of the Customer to:

     (a)  open, operate and close the Accounts;

     (b)  appoint and remove Signatories;

     (c)  execute the Account Application(s) and any form of agreement relating
          to communications, whether by telephone, telex, electronic or other
          means;

     (d)  execute any agreements relating to overdrafts, borrowings or cash
          management;

     (e)  draw, accept, endorse or discount cheques, drafts, bills of exchange,
          notes and other instruments;

     (f)  overdraw the Accounts as may be permitted by the Bank;

     (g)  make arrangements with the Bank concerning periodic payments into or
          out of the Accounts;

     (h)  advise the Bank of credits destined for the Customer's Account;

     (i)  place money on interest-bearing or term deposit with the Bank and
          withdraw that money and accrued interest either on or before any
          applicable maturity date;

     (j)  authorize and request the Bank to effect foreign exchange transactions
          and purchase and/or sell treasury products for the account of the
          Customer;

     (k)  deposit any property of the Customer with the Bank for safe keeping,
          have access to and reclaim any property so deposited or give the Bank
          Instructions in relation to it;

     (l)  execute guarantees, indemnities or other undertakings to the Bank in
          relation to:

          (i)  missing documents;

          (ii) guarantees, letters of credit or other undertakings given or to
               be given by the Bank to or at the request of the Customer; or

          (iii) anything else done or to be done by the Bank at the request of
               the Customer;

     (m)  give the Bank any form of security over, or make any other
          arrangements with the Bank concerning, any property of the Customer
          including without limitation bills of exchange, bills of lading,
          warehouse certificates, insurance policies and share and debenture
          certificates;

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     (n)  countermand, revoke or amend Instructions; and

     (o)  give the Bank Instructions relating to any of the above.

INSTRUCTIONS

4.1  "Instruction" means a communication, including without limitation a cheque
     or demand for payment, which (i) contains the information required by the
     Bank to enable the Bank to give effect to the communication; (ii) is
     received by the Bank in writing, by facsimile, tested or untested telex,
     SWIFT, telephone, or via the Bank's electronic instruction system or such
     other means as are for the time being agreed by the Customer and the Bank;
     and (iii) the Bank believes in good faith to have been given by the
     Customer.

4.2  The Customer is responsible for keeping and completing cheques and other
     forms and documents and for issuing Instructions in a manner so as to
     prevent unauthorised completion, alterations or additions. The Customer
     shall not issue cheques which are post- dated and shall immediately notify
     the Bank if it becomes aware that any of its cheques (whether completed or
     blank) are lost or stolen.

4.3  If the Bank and the Customer at any time agree on a security procedure to
     be used in relation to any category of communications (including
     encryption), the Customer shall safeguard any test keys, passwords,
     identification codes or other security or authentication devices, make them
     available only to properly authorised persons and be fully responsible for
     any use of such security procedure (whether authorised or unauthorised)

4.4  Nothing in this Clause 4 obligates the Bank to confirm Instructions which
     appear to the Bank acting in good faith to have been given by the Customer.

AUTHORITY AND OBLIGATIONS OF THE BANK

5.1. The Bank is authorised and agrees to accept, honour and execute without
     inquiry each Instruction which the Bank believes in good faith to have been
     given by a Signatory and any other Instruction communicated by other means
     which the Bank receives in strict accordance with any agreed security
     procedure. Provided the Bank believes in good faith that an Instruction has
     been given by a Signatory, where such an Instruction has been effected by
     means of a facsimile signature, personal seal or chop, the Bank is
     authorised to act on such Instruction, regardless of by whom the facsimile
     signature, personal seal or chop was actually affixed. The Bank need not
     inquire into the circumstances of any transaction.

5.2  The Bank may at its option use any means to confirm or clarify
     Instructions, even if any agreed security procedure appears to have been
     followed. If the Bank is not satisfied with any confirmation or
     clarification, it may decline to honour the Instruction.

5.3  The Bank has established cut-off times for some categories of
     communications, details of which are attached hereto as Addendum A. If an
     Instruction is received by the Bank after its cut-off times, the Bank may
     process the Instruction on the next day on which it is open for such
     business. The Bank may process any Instruction through any of the payments
     systems identified in Addendum A.

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5.4  Execution of Instructions will be subject to applicable law and the rules
     of the payment system used, including those laws or rules concerning a
     misdescribed or missing beneficiary, beneficiary's bank or intermediary
     bank. The Bank may rely on the identifying number of any account,
     intermediary or beneficiary's bank which appears in an Instruction as the
     proper identification of the beneficiary, intermediary or beneficiary's
     bank notwithstanding that the Instruction identifies an entity different
     from the entity identified by name in the Instruction. The Bank may
     complete or correct incomplete or inaccurate intermediary or beneficiary
     bank details.

5.5  Due to the operations of the Trust, mid-month redemptions of shares of the
     Trust could result in an Instruction that would require a withdrawal from
     the Non-Interest Account in excess of the balance in such account. The Bank
     shall honour such an Instruction without assessing an overdraft fee. They
     Bank may charge customary interest, fees and other expenses for all other
     overdrafts of the Non-Interest Account or the Interest Account.

5.6  Where execution of an Instruction requires the Bank to purchase or sell a
     currency other than the currency of the Account on which the Instruction is
     given, the Bank is authorised to purchase or sell the currency at a
     commercially reasonable rate at the relevant time for the purchase or sale
     of such currency taking into account the size and tenor of the transaction.

5.7  If the Customer chooses to confirm any Instruction, any confirmation must
     be clearly marked as such and, if there is any discrepancy between an
     Instruction and any confirmation, the terms of the Instruction shall
     prevail.

DEPOSITS, AVAILABILITY OF FUNDS

6.1  The Customer undertakes that it will have good title to all items presented
     to the Bank for deposit or for any other purpose. Money deposited or paid
     into an Account will not be regarded as available until collected and
     irrevocably received in cleared funds. The Customer requests that the Bank
     accept without inquiry all cheques and other instruments presented for
     deposit into the Account without checking whether they are valid, properly
     endorsed or owned by the Customer.

6.2  As collecting bank, the Bank as agent for the Customer will deal with and
     present the cheques and instruments in accordance with the custom and
     practice of the country in which the cheques are collected.

6.3  If the Bank credits the Account in contemplation of receiving funds for the
     Customer's credit and those funds are not actually received by the Bank, or
     on the faith of a transaction which is subsequently set aside or revoked,
     or if the Bank does not receive funds for the Customer's credit for value
     on the date advised by or on behalf of the Customer, the Bank shall be
     entitled to debit the Account of the Customer with the amount previously
     credited and/or with any other charges incurred. If the Account becomes
     overdrawn or further overdrawn as a result of such debit, the Customer will
     pay on demand the overdrawn amount and interest on the overdrawn amount.

6.4  Bank reserves the right not to accept, and to return without interest to
     the remitter of funds, the amounts received for deposit to the Interest
     Account on any Bank business day, if the

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     aggregate deposit liability of the Bank to the Trust following the deposit
     of such amounts would exceed the Swedish Krona equivalent of $1.5 billion
     U.S. dollars calculated at the Federal Reserve Bank of New York Noon Buying
     Rate (the "Noon Buying Rate") for the Swedish Krona or another recognized
     market rate for the Swedish Krona if the Noon Buying Rate is not available
     on the banking day such deposits are received by the Bank.

6.5  The Bank shall notify the Customer and the Customer's sponsor if there are
     extraordinary circumstances causing the Bank to reasonably expect that it
     will be unable to accept Instructions for the withdrawal of money held in
     the Accounts. Upon such notification, the Customer may determine, in its
     sole discretion, to suspend generally or refuse orders to redeem shares of
     the Trust. In such case, the Customer and the Bank shall consult with each
     other and use good faith efforts to resume withdrawals as soon as possible.

6.6  Each day that orders are placed with and accepted by the Trust for the
     purchase or redemption of shares in the Trust, the Trust shall notify the
     Bank of the anticipated amounts in Swedish Kronor that will be deposited
     to, or withdrawn from, the Interest Account on the settlement date for
     those orders.

INTEREST

7.1  Interest will accrue daily, in Swedish Kronor, on all Swedish Krona
     balances in the Interest Account only and will be credited monthly, in
     Swedish Kronor, to the Non-Interest Account. No interest will be earning on
     balances in the Non-Interest Account. The Bank agrees that it will
     endeavour at all times to pay a competitive interest rate on all Swedish
     Krona balances in the Interest Account. As of the date of this Agreement,
     the Bank has agreed to pay interest at a rate equal to ___________. The
     Bank may change the rate based upon changes in the British Bankers
     Association LIBOR Overnight rate ("BBA rate"), other market conditions or
     the Bank's liquidity needs The Bank will notify the Customer of the
     interest rate applied each Bank business day after the close of the Bank
     business day. The Bank will endeavour to provide to the Customer and
     Customer's sponsor advance notice whenever the Bank intends to change the
     interest rate on the Interest Account, except where there are unforeseen
     changes in conditions or significant changes in the Trust's balances in the
     Interest Account. If the Bank at any time pays an unsatisfactory interest
     rate on the Interest Account, the Customer's sole recourse will to be to
     withdraw the Swedish Krona balance from the Interest Account, terminate the
     Deposit Account Agreement and close the Accounts.

ACCOUNT INFORMATION

8.1  The Bank will issue, on a daily basis, balance and transactions reports for
     the Accounts for the previous banking day. Bank will also send a periodic
     statement of account for the Accounts as agreed with the Customer.

8.2  The Customer will ensure that the statements, confirmations and advices it
     receives from the Bank are examined by a responsible person on behalf of
     the Customer within a reasonable time of receipt and, thereupon, Customer
     shall promptly notify the Bank of any mistake or discrepancy of which the
     Customer becomes aware from such statements, confirmations and advices. The
     Bank shall not be responsible for the Customer's reliance on balance,

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     transaction or related information which is subsequently updated or
     corrected or for the accuracy or timeliness of information supplied by any
     third party to the Bank.

OTHER DOCUMENTATION

9.1. These Account Terms and the Account Applications replace any existing
     agreements relating to the subject matter hereof or thereof, with effect
     from the date the Bank receives the relevant Account Application or
     analogous document in form and substance satisfactory to the Bank.

9.2  These Account Terms are in addition to any future agreement between the
     Bank and the Customer (including without limitation any agreement relating
     to the provision of electronic banking services, specific payment or cheque
     services or custody services) and if there is an inconsistency between
     these Account Terms and any such other agreement, any such other agreement
     will prevail for the purposes of the particular account or service which is
     the subject of such other agreement. If there is an inconsistency between
     these Account Terms and any terms of the relevant Account Application(s),
     the terms of the Account Application(s) shall prevail for the purposes of
     the Account(s) which are subject to such Account Application(s).

REVERSALS

10.1 Unless otherwise expressly provided, all Instructions shall continue in
     full force and effect until cancelled or superseded. Instructions may be
     reversed, amended, cancelled or revoked by the Customer only with the
     consent of the Bank. That consent shall not be withheld unless the Bank
     reasonably determines that it would not be possible to give effect to any
     reversal, amendment or revocation, or the Bank has entered into other
     transactions or otherwise materially changed its position as a result of
     receiving such Instructions.

10.2 The Customer may stop payment of a cheque at any time provided the Bank
     branch on which the cheque is drawn receives an Instruction to that effect
     from the Customer prior to the Bank honouring or arranging to honour the
     cheque concerned.

10.3 If the Bank erroneously posts or fails to post an entry to the Account the
     Bank may reverse or make a correcting entry and the provisions of clause
     6.3 shall apply to any resulting overdraft.

FEES AND CHARGES

11.1 The Bank may, at its option, invoice the Customer or debit the Account for
     services or for handling telecommunications or messages dispatched at the
     Customer's request, and other out of pocket costs incurred by it for the
     Customer's account in accordance with its fee arrangements in place from
     time to time. Attached hereto and marked "Fee Schedule" is a copy of the
     current fees. All payments to be made to the Bank shall be in full, without
     set-off or counterclaim and free of any deductions or withholdings on
     account of any tax or otherwise. The Bank will forward to the Customer a
     statement in respect of each Account detailing all interest (if applicable)
     and fees charged to that Account.

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11.2 The Customer agrees to pay or reimburse the Bank for any taxes, levies,
     imposts, deductions, charges, stamp, transaction and other duties and
     withholdings (together with any related interest, penalties, fines, and
     expenses in connection with them) in connection with the Accounts
     (including payments or receipts to the Accounts) except if imposed on the
     overall net income of the Bank.

REPAYMENT OF OVERDRAFTS

12.1 In the event that there is an overdraft of the Non-Interest Account (as
     provided for in Section 5.5 hereof), any monies paid into the Non-Interest
     Account will first be used to credit such overdraft.

INDEMNITY AND LIABILITY

13.1 The Customer shall fully indemnify the Bank and its employees, officers and
     directors and each of the affiliates and subsidiaries of JPMorgan Chase
     Bank, N.A. on demand, at all times against any losses, costs, claims,
     damages, liabilities and expenses (including without limitation legal fees)
     which it or they suffer or incur directly or indirectly as a result of (i)
     the Customer's breach of these Account Terms, (ii) the Bank acting on what
     it believed in good faith to be the Customer's communication or Instruction
     or because of anything done under or as contemplated by these Account
     Terms. This indemnity is in addition to and not in substitution for any
     other indemnity or right in favour of the Bank given by law or otherwise
     and shall not be affected or discharged by any thing.

13.2 (i) Subject to clause 13.2 (ii) below, the Bank shall be liable only for
     direct loss or damage which the Customer suffers or incurs arising from the
     Bank's gross negligence or willful misconduct and shall not be liable for
     any other loss or damage of any nature.

     (ii) The Bank shall not in any event be liable for loss of business or
     profits or goodwill or any indirect or consequential or punitive or special
     loss or damage, in each case whether or not reasonably foreseeable, even if
     the Bank has been advised of the likelihood of such loss or damage and
     whether arising from negligence, breach of contract or otherwise.

     (iii) The provisions of clause (i) and (ii) above shall not apply to the
     extent that the loss or damage is caused by fraud on the part of the Bank.

13.3 The Bank of New York enters into this Agreement only in its capacity as
     trustee and in no other capacity, and in no circumstances shall The Bank of
     New York have any liability under or in connection with this Agreement
     other than as trustee of the Trust. Any liability of the Trustee arising
     under or in connection with this Agreement is limited to, and can be
     enforced against the Trustee only to the extent to which such liability can
     be satisfied out of, the assets of the Trust which are available under the
     terms of the trust agreement governing the Trust to meet such liability at
     the time the amount in respect of such liability is claimed against the
     Trustee. This limitation on the Trustee's liability applies despite any
     other provision of this Agreement and extends to all liabilities and
     obligations of the Trustee in any way connected with any representation,
     warranty, conduct, omission, agreement or transaction related to this
     Agreement, except that the Trustee will be held

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     liable individually for its fraud or willful misconduct in connection with
     these Account Terms.

GOVERNING LAW AND JURISDICTION

14.1 These Account Terms, the relevant Account Application and the rights and
     obligations of the Customer and the Bank in respect of the Accounts shall
     be governed by, performed and construed in accordance with the laws of
     England.

14.2 If any of these Account Terms is unenforceable or illegal in any
     jurisdiction, that will not affect the rest of the Account Terms in that
     jurisdiction, or any of the Account Terms in any other jurisdiction.

14.3 In relation to the Accounts, the courts of England shall have non-exclusive
     jurisdiction to settle any disputes which arise out of or are connected
     with these Account Terms, the relevant Account Application and/or the
     relevant Account. This clause does not prevent the Bank or Customer from
     taking proceedings in the United States.

RECORDING

15.1 The Bank may record telephone conversations in connection with an
     Instruction. At the Customer's request and cost the Bank will supply a copy
     or transcript of any such recording to the Customer. The recording or
     transcript may be used in resolving any dispute between the Bank and the
     Customer. Recordings and any transcript shall be the property of the Bank.

15.2 The Bank may microfilm or electronically record any document and subject to
     any law affecting the relevant Account may destroy the original of such
     documents. Subject to the provisions of applicable law the Bank and the
     Customer shall be entitled to rely on any such stored document in any legal
     proceeding or for any other purpose.

DISCLOSURE

16.1 The Customer authorises the Bank to retain an affiliated company and/or any
     other agents to perform data processing, collection and other services
     which the Bank considers necessary or desirable for the Bank. The Bank
     reserves the right to modify or terminate its arrangements with its agents
     at any time.

16.2 The Customer agrees that Instructions and information concerning the
     Accounts, the Customer and transactions to be disclosed in accordance with
     this clause 16 may be transmitted across national boundaries and through
     networks including those owned and operated by third parties.

16.3 The Customer authorises the Bank to disclose information concerning the
     Accounts, transaction or the Customer where, (i) in the Bank's view, the
     disclosure is necessary or desirable for the purpose of allowing the Bank
     to perform its duties and exercise its powers and rights hereunder; (ii)
     the disclosure is to a proposed assignee of the rights of the Bank in
     respect of the Account; (iii) the disclosure is to a branch, affiliate,
     subsidiary, employee or agent of JPMorgan Chase & Co. or to its auditors or
     legal advisers; (iv) the disclosure is to

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     the auditors of the Customer; or (v) as may be otherwise required by law,
     irrespective of whether the disclosure is made in the jurisdiction in which
     the Customer is resident, the Account is kept, the transaction conducted or
     elsewhere.

FORCE MAJEURE

17.1 The Bank shall have no liability for any damage, loss, expense or liability
     of any nature which the Customer may suffer or incur, to the extent caused
     by an act of God, fire, flood, civil or labour disturbance, war or
     terrorism, act of any governmental authority or other act or threat of any
     authority (de jure or de facto), legal constraint (including attachments or
     other legal process), fraud or forgery (other than on the part of the Bank
     or any of its directors, officers or employees), malfunction of equipment
     (including, without limitation, any computer or related software) except
     where such malfunction is primarily attributable to the Bank's gross
     negligence in maintaining the equipment or software, failure of or the
     effect of rules or operations of any funds transfer system, inability to
     obtain or interruption of communications facilities, or any cause beyond
     the reasonable control of the Bank (including, without limitation, the
     non-availability of appropriate foreign exchange);

17.2 Any amount standing to the credit of the Account with the Bank is payable
     exclusively at the branch at which the Account is held: however, payment
     may be suspended from time to time in order to comply with any law,
     regulation, governmental decree or similar order for the time being
     affecting the Bank, its officers, employees, affiliates, agents or
     correspondents.

NOTICES

18.1 Any communication, other than an Instruction, shall be in writing unless
     otherwise agreed and may be sent by personal delivery, facsimile, telex,
     SWIFT or post, addressed, in the case of communications from the Customer
     to the Bank, to the branch of the Bank where the Account is maintained,
     and, in the case of communications from the Bank to the Customer, to the
     address notified by the Customer to the Bank from time to time. Any
     communication will only be effective when actually received.

CLOSURE/TERMINATION

19.1 The Bank has the right to close an Account at any time by not less than
     ninety days notice in writing addressed to the Customer at its most recent
     address as advised by the Customer to the Bank. Before or on the expiry of
     such notice the Bank, will transfer any balance in the Account in
     accordance with the Customer's Instructions. On the expiry of such notice,
     the Bank's obligations in respect of the Account shall cease. However, any
     such closure or termination shall not affect the Customer's liabilities to
     the Bank arising prior to or after such termination or closure, all of
     which shall continue in full force and effect. In the absence of such
     Instructions the Bank may transfer the balance to an unclaimed moneys
     account.

MISCELLANEOUS

20.1 The expressions "Bank" and "Customer" when used herein shall include any
     successor of the Bank or the Customer, as applicable, and "successor" means
     an assignee or successor of

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     JPMorgan Chase Bank, N.A., or of the CurrencyShares Swedish Krona Trust, as
     applicable, or any person who, under the laws of its jurisdiction of
     incorporation or domicile, has assumed the rights and obligations of
     JPMorgan Chase Bank, N.A., or of the CurrencyShares Swedish Krona Trust, as
     applicable, hereunder or to which under such laws the same have been
     transferred.

20.2 If these terms are translated into, or appear in a language other than
     English, the English language version shall govern and control.

20.3 Headings are for convenience only and shall not affect the interpretation
     of this document.

20.4 The Customer acknowledges that deposits held in a branch of the Bank
     located outside of the U.S. are not insured by the Federal Deposit
     Insurance Corporation, are subject to cross-border risks and may enjoy a
     lesser preference, as compared to deposits held in the U.S., in the event
     the Bank should be liquidated, insolvent or placed into receivership or
     other proceeding for the benefit of creditors.

20.5 These Account Terms may be enforced only by the Bank or the Customer or
     such party's successors and permitted assigns. Notwithstanding the
     foregoing, but subject to the prior written consent of the Bank, each
     employee, officer and director of the Bank and each of the affiliates and
     subsidiaries of JPMorgan Chase Bank, N.A. may enforce the terms of clause
     13. The Bank and the Customer may at any time, by agreement, rescind these
     Account Terms or vary them without the consent of such employees, officers,
     directors or the affiliates and subsidiaries of JPMorgan Chase Bank, N.A.

20.6 (i) The Bank will collect information about the Customer and the Customer's
     employees and agents which may constitute personal data for the purposes of
     the Data Protection Act 1998 (the "Act") and other relevant data protection
     legislation (such as, without limitation, authorised signatory details).
     Such personal data may be collected by or on behalf of the Bank in a number
     of ways (the "Collection Methods"), including via Account Applications or
     other analogous documents, via applications or documentation relating to
     the provision to or use by the Customer of electronic banking services, or
     specific payment or cheque services, via the Customer's use of such
     electronic banking services, or specific payment or cheque services, and
     via other correspondence or communications between the Customer and the
     Bank.

     (ii) The Bank will use personal data collected by it or on its behalf via
     the Collection Methods for the following purposes (the "Purposes"); namely,
     for the purpose of providing the services to the Customer in accordance
     with the Global Account Terms and Account Applications, for otherwise
     administering the Account(s), for providing the Customer with services such
     as electronic banking services, or specific payment or cheque services, for
     the Bank's internal administrative purposes, for contacting the Customer
     about products and services which the Bank or other members of the Bank's
     group offer which the Bank believes may be of interest to the Customer, and
     as may be otherwise required by law or applicable regulatory or
     governmental authorities, and such purposes may include transfer of such
     personal data outside of the United Kingdom to the Bank's subsidiaries or
     other

                                       10

     connected companies or to other organisations as may be required by law or
     other applicable regulatory or governmental authorities.

     (iii) The Customer shall ensure that any disclosure of personal data made
     by it or by its employees or agents via the Collection Methods which relate
     to the Customer's employees or agents is only made following notification
     by the Customer to data subjects of the Purposes for which their personal
     data may be processed by or on behalf of the Bank, and is otherwise fair
     and lawful.

                         [Signatures on following page]

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          IN WITNESS WHEREOF, this Agreement has been duly executed as of
________, 2006.

                                        CURRENCYSHARES SWEDISH KRONA TRUST

                                        BY THE BANK OF NEW YORK, IN ITS CAPACITY
                                        AS TRUSTEE OF THE CURRENCYSHARES SWEDISH
                                        KRONA TRUST AND NOT IN ITS INDIVIDUAL
                                        CAPACITY

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

                                        JPMORGAN CHASE BANK, N.A.,
                                        LONDON BRANCH

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

                                       12THE
SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933 (THE ‘‘ACT’’). THE
SECURITIES REPRESENTED HEREBY MAY NOT BE OFFERED, SOLD OR OTHERWISE
TRANSFERRED UNLESS THEY ARE REGISTERED UNDER THE ACT AND APPLICABLE
STATE SECURITIES LAWS, OR SUCH OFFERS, SALES AND TRANSFERS ARE MADE
PURSUANT TO AN AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS
OF THOSE LAWS.

CONVERTIBLE
NOTE

							
	June
5,  2006				$	25,000	

	
	

CREATIVE
ENTERPRISES INTERNATIONAL, INC.    , a Nevada corporation (the
‘‘Company’’ or the
‘‘Maker’’) hereby promises
to pay to                             
(the ‘‘Holder’’) the sum
of Twenty Five Thousand Dollars ($25,000) (the
‘‘Principal’’) on the
earlier of (i) June  5,  2007 (the
‘‘Maturity Date’’), and (ii)
the date on which there is an acceleration pursuant to the terms of
this Convertible Note (the
‘‘Note’’), and to pay
interest on the Principal, which shall accrue at the rate of 10%
per annum (except as provided in Section 1.3), calculated for the
actual number of days the Principal is outstanding and interest is
accrued and unpaid based on a 360-day year, in accordance with the
terms hereof. Such payment shall be made in lawful money of the United
States of America at such address as the Holder shall hereafter give to
the Maker by written notice made in accordance with the provisions
hereof.

The following terms apply to this Note:

ARTICLE
I
ACCELERATION; INTEREST; PREPAYMENT

1.1
    Acceleration of Maturity Date.    Subject to Article
III of this Note, the Principal and accrued and unpaid Interest shall
become immediately due and payable upon the occurrence of an Event of
Default (as defined herein), which event shall be deemed an
Acceleration Date.

1.2    Payment of
Interest.    Payment of accrued Interest on the Principal shall
be paid in cash in full on the Maturity Date or such earlier date on
which the Principal is paid to the Holder or on which the Note is
converted pursuant to the terms hereof. Notwithstanding the foregoing,
unless previously converted in full in accordance with Section 2 hereof
and so long as the Interest Shares (as defined below) are covered by an
effective registration statement providing for the resale thereof, the
accrued but unpaid interest on this Note may be paid, at the sole
option of the Company, in cash or in shares (the
‘‘Interest Shares’’) of Common Stock, par
value $.001 per share, of the Company, upon at least ten (10)
days’ prior written notice (the ‘‘Interest Share
Notice’’). In such event, the holder of this Note shall
be entitled to receive that number of Interest Shares equal to (i) the
then-accrued but unpaid interest of this Note divided by the average
closing price for the five (5) consecutive trading days ending not more
than three (3) days prior to the date of the Interest Share Notice. All
payments made by the Maker on this Note shall be applied first to the
payment of accrued and unpaid Interest on this Note and then to the
reduction of the unpaid principal balance of this Note. Payments of
Principal and Interest shall be deemed made on the date such payment is
deposited or, if mailed, on the date deposited in the mail with proper
postage and addressed to the Holder at the address shown on the records
of the Company, or such other address as provided to the Maker in
writing by the Holder. In the event that the date for the payment of
any amount payable under this Note falls due on a Saturday, Sunday or
public holiday under the laws of the State of New York, the time for
payment of such amount shall be extended to the next succeeding
business day and Interest shall continue to accrue on any principal
amount so effected until the payment thereof on such extended due
date.

1.3     Prepayment.    The principal of and
accrued interest on this Note may be prepaid in full or in part, at any
time without premium or penalty. If this Note is called for prepayment
pursuant this Section 1.3, the Company shall give written notice to the
Holder not less than ten (10) days nor more than sixty (60) days prior
to the date the Company intends to effect the prepayment (the
‘‘Prepayment Date’’), setting forth the
prepayment price to be paid, instructions for presentation of the Notes
for prepayment and the Prepayment Date. The Holder shall, upon receipt
of notice of prepayment, cause this Note to be timely delivered to the
Company at its principal offices. If on or before the Prepayment Date
all funds 

1

necessary to pay for the Notes to be prepaid
shall have been set aside by the Company for the benefit of such
Holders, then, on and after such date, notwithstanding that any Note
subject to prepayment shall not have been surrendered for prepayment,
the obligation evidenced by all Notes not surrendered for prepayment
shall be deemed no longer outstanding, and all rights with respect
thereto shall forthwith cease and terminate, except only the right of
the holder of each Note subject to prepayment to receive the prepayment
amount to which he would be entitled upon receiving notice of
prepayment. Holders may convert their Notes pursuant to Article II of
this Note during the period from the date of notice of prepayment until
5:00 p.m. Eastern Time on the business day immediately prior to the
Prepayment Date.

1.4    Holder Deemed
Owner.    The registered Holder hereof may be deemed the
absolute owner of this Note (whether or not this Note shall be overdue
and notwithstanding any notice of ownership or writing hereon made by
anyone other than the Maker, for the purpose of receiving payment
hereof or thereof or on account hereof and for all other purposes) and
the Maker shall not be affected by notice to the
contrary.

ARTICLE II
CONVERSION RIGHTS; CONVERSION
PRICE

2.1    Voluntary Conversion by
Holder.    The Holder shall have the right prior to the date on
which this Note is paid in full, to convert, in connection with a
Subsequent Financing (as defined below), any part of the outstanding
Principal amount of this Note into fully paid and non-assessable
securities issued in such Subsequent Financing
(‘‘Conversion Securities’’)
at the Conversion Price (as defined below) determined as provided
herein. Promptly after the surrender of this Note, accompanied by a
Notice of Conversion of Convertible Note in the form attached hereto as
Exhibit 1, properly completed and duly executed by the Holder
(a ‘‘Conversion Notice’’),
the Maker shall issue and deliver to or upon the order of the Holder
that number of Conversion Securities for the amount of this Note
converted, as shall be determined in accordance herewith. The Company
shall provide 10 business days’ prior written notice of the
anticipated closing date of the Subsequent Financing. The term
‘‘Subsequent Financing’’ shall mean the
closing, or a series of closings within a period of three months as
part of the same transaction, of a sale of equity or debt securities by
the Company or any Subsidiary (as defined herein) for gross proceeds of
at least $500,000, which occurs prior to the Maturity
Date.

2.2    The number of Conversion Securities to be issued
upon each conversion of this Note shall be determined by dividing (i)
the amount of Principal to be converted by (ii) the Conversion Price
(as defined below) in effect on the date the Conversion Notice is
delivered to the Maker by the Holder.

2.3    Conversion
Price.    The Conversion Price shall be equal to the sale price
of the securities sold by the Company in the Subsequent Financing,
subject to adjustment from time to time upon the happening of certain
events (the ‘‘Conversion
Price’’), as set forth below.

2.4    Reclassification, Consolidation or
Merger.    At any time while this Note remains outstanding, in
case of any consolidation or merger of the Company with or into another
corporation (other than a merger with another corporation in which the
Company is a continuing corporation and which does not result in any
reclassification or change, other than a change in par value, or from
par value to no par value per share, or from no par value per share to
par value, or as a result of a subdivision or combination Common
Stock), or in the case of any sale or transfer to another corporation
of the property of the Company as an entirety or substantially as an
entirety, the Company, or such successor or purchasing corporation, as
the case may be, shall, without payment of any additional consideration
therefor, execute new Notes providing that the holders of the Notes
shall have the right to exercise such new Notes (upon terms not less
favorable to the holders than those then applicable to the Notes) and
to receive upon such exercise, in lieu of the Conversion Securities
theretofore issuable upon conversion of the Notes, the kind and amount
of shares of stock, other securities, money or property receivable upon
such consolidation, merger, sale or transfer by the Holder of such
Conversion Securities issuable upon conversion of the Notes had the
Notes been converted immediately prior to such consolidation, merger,
sale or transfer. Such new Notes shall provide for adjustments which
shall be as nearly equivalent as may be practicable to the adjustments
provided for in this Article II. The provisions of this Section 2.4
shall similarly apply to successive consolidations, mergers, sales and
transfers.

2

2.5    Method of
Conversion.    Except as otherwise provided in this Note or
agreed to by the Holder, this Note may be converted by the Holder
pursuant to its conversion rights set forth in Section 2.1 in whole at
any time or in part (provided such partial conversion is at least
$10,000) as follows. In the event of a Holder electing to exercise its
conversion rights, submitting to the Maker a Conversion Notice (by
facsimile dispatched on the Conversion Date and confirmed by U.S. mail
or overnight mail service sent within two business days thereafter) and
surrendering this Note with the mailed confirmation of the Conversion
Notice at the principal office of the Maker. Upon a partial conversion
of this Note, a new Note containing the same date and provisions as
this Note shall be issued by the Maker to the Holder for the balance
due hereunder which shall not have been
converted.

2.6    Restrictions on
Securities.    This Note has been issued by the Maker pursuant
to the exemption from registration under the Securities Act of 1933, as
amended (the ‘‘Act’’).
Neither this Note nor the Conversion Securities issuable upon
conversion of this Note may be offered, sold or otherwise transferred
unless (i) they first shall have been registered under the Act and
applicable state securities laws or (ii) the Maker shall have been
furnished with an opinion of legal counsel (in form, substance and
scope reasonably acceptable to Maker) to the effect that such sale or
transfer is exempt from the registration requirements of the Act. Each
certificate for Conversion Securities issuable upon conversion of this
Note that have not been so registered and that have not been sold
pursuant to an exemption that permits removal of the applicable legend,
shall bear a legend substantially in the following form, as
appropriate:

THE SECURITIES REPRESENTED HEREBY
HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 (THE
‘‘ACT’’). THE SECURITIES REPRESENTED HEREBY
MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED UNLESS THEY ARE
REGISTERED UNDER THE ACT AND APPLICABLE STATE SECURITIES LAWS, OR SUCH
OFFERS, SALES AND TRANSFERS ARE MADE PURSUANT TO AN AVAILABLE EXEMPTION
FROM THE REGISTRATION REQUIREMENTS OF THOSE
LAWS.

2.7    Reservation of Securities.    The
Company shall at all times have authorized and reserved, for the
purpose of issuance, a sufficient number of shares of Conversion
Securities to provide for the issuance of Conversion Securities
underlying the then outstanding aggregate Principal and Interest amount
of the Notes.

ARTICLE III
EVENTS OF
DEFAULT

3.1    Default.    If one or more of the
following events shall occur for any reason whatsoever (and whether
such occurrence shall be voluntary or involuntary or come about or be
effected by operation of law or pursuant to or in compliance with any
judgment, decree or order of any court or any order, rule or regulation
of any administrative or governmental body):

(a)    default
in the due and punctual payment of the Principal of, or Interest on
this Note or any other Note when and as the same shall become due and
payable, whether at the Maturity Date, the Acceleration Date or
otherwise and continuance of such default for a period of 20
days;

(b)    The Company makes, or consents to, an assignment
for the benefit of creditors or admits in writing its inability to pay
its debts generally as they become due;

(c)    An order,
judgment or decree is entered adjudicating the Company or any
Subsidiary bankrupt or insolvent;

(d)    The Company or any
Subsidiary, petitions or applies to any tribunal for the appointment of
a trustee or receiver of the Company or any Subsidiary, or of any
substantial part of the assets of the Company or any Subsidiary, or
commences any proceedings (other than proceedings for the voluntary
liquidation and dissolution of a Subsidiary) relating to the Company or
a Subsidiary under any bankruptcy, reorganization, arrangement,
insolvency, readjustment of debt, dissolution or liquidation law of any
jurisdiction whether now or hereafter in effect;

(e)    Any
such petition or application is filed, or any such proceedings are
commenced, against the Company or any Subsidiary, and the Company or
any Subsidiary by any act indicates its approval thereof, 

3

consent or acquiescence therein, or an order,
judgment or decree is entered appointing any such trustee or receiver,
or approving the petition in any such proceedings, and such order,
judgment or decree remains unstayed and in effect for more than 60
days;

(f)    Any order, judgment or decree is entered in any
proceedings against the Company or any Subsidiary decreeing the
dissolution of the Company and such order, judgment or decree remains
unstayed and in effect for more than 60 days;

(g)    Any
order, judgment or decree is entered in any proceedings against the
Company or any Subsidiary decreeing a split-up of the Company which
requires the divestiture of in excess of 25% of the consolidated
assets of the Company and its Subsidiaries, or the divestiture of the
stock of a Subsidiary and such order, judgment or decree remains
unstayed and in effect for more than 60 days; or

(h)    The
dissolution of Maker or any material Subsidiary of Maker or any vote in
favor thereof by the board of directors and shareholders of Maker or
any material Subsidiary of Maker;

and the holders of the
holders of not less than 50% of principal amount of the Note
outstanding at the time (the ‘‘Majority
Holders’’) shall have given fifteen (15) days prior
written notice to the Company by certified or registered mail, return
receipt requested (or such longer period of time as may be specified
for any particular subsection of this Section 3.1), and the Company
shall not have cured the default within such applicable time period,
then an event of default shall be deemed to have occurred (herein
called, after the giving of such notice as is applicable, an
‘‘Event of
Default’’).

3.2    Upon the occurrence of any
Event of Default described in Sections 3.1, and so long as such Event
of Default shall not have been remedied, the holder of this Note, by
notice in writing to the Company, may declare the principal of this
Note then outstanding and the interest accrued thereon if not already
due and payable, to be due and payable immediately, and upon any such
declaration the same shall become and shall be immediately due and
payable, anything in this Note contained to the contrary
notwithstanding.

ARTICLE
IV
MISCELLANEOUS

4.1    Failure or Indulgency Not
Waiver.    No failure or delay on the part of the Holder in the
exercise of any power, right or privilege hereunder shall operate as a
waiver thereof, nor shall any single or partial exercise of any such
power, right or privilege preclude other or further exercise thereof or
of any other right, power or privilege. All rights and remedies
existing hereunder are cumulative to, and not exclusive of, any rights
or remedies otherwise
available.

4.2    Notices.    Any notice herein
required or permitted to be given shall be in writing and may be
personally served or delivered by courier or sent by United States mail
and shall be deemed to have been given upon receipt if personally
served (which shall include telephone line facsimile transmission) or
sent by courier or three (3) days after being deposited in the United
States mail, certified, with postage pre-paid and properly addressed,
if sent by mail. For the purposes hereof, the address of the Holder
shall be as shown on the records of the Maker; and the address of the
Maker shall be 461 Park Avenue South, Suite 303, New York, New York
10016. Both the Holder and the Maker may change the address for service
by delivery of written notice to the other as herein provided.

4.3    Amendment Provision.    This Note and any
provision hereof may be amended only by an instrument in writing signed
by the Maker and the Holder.

4.4    Assignability.    This Note shall be binding
upon the Maker and its successors and assigns and shall inure to be the
benefit of the Holder and its successors and assigns;
provided, however, that so long as no Event of
Default has occurred, this Note shall only be transferable in whole or
in increments of $10,000 subject to the restrictions contained in the
restrictive legend on the first page of this
Note.

4.5    No Recourse.    Each Note is issued
upon the express condition, to which each successive holder expressly
assents and by receiving the same agrees, that no recourse under or
upon any obligation, covenant or agreement of the Notes, or for the
payment of the Principal of, or premium, if any, or the Interest on, a
Note, or for any claim based on a Note, or otherwise in respect hereof,
shall be had against 

4

any incorporator or any past, present or
future stockholder, officer or director, as such, of the Company or of
any successor corporation, whether by virtue of the constitution,
statute or rule of law or by any assessment or penalty or otherwise
howsoever, all such individual liability being hereby expressly waived
and released as a condition of and as a part of the consideration for
the execution and issue of the Notes; provided, however, that nothing
herein shall prevent enforcement of the liability, if any, of any
stockholder or subscriber to capital stock upon or in respect of
capital stock not fully paid.

4.6    Waiver of
Demand.    Maker hereby expressly waives demand and presentment
for payment notice of nonpayment, notice of dishonor, protest, notice
of protest, bringing of suit, and diligence in taking any legal action
or remedy to collect amounts called for
hereunder.

4.7    Cost of Collection.    If
default is made in the payment of this Note, the Maker shall pay the
Holder hereof costs of collection, including reasonable
attorneys' fees.

4.8    Governing
Law.    This Note shall be governed by the internal laws of the
State of New York, without regard to conflicts of laws principles. The
parties hereto hereby submit to the exclusive jurisdiction of the state
or federal courts located in the City of New York, in the State of New
York with respect to any dispute arising under this
Note.

4.9    Suits for Enforcement and
Remedies.    If any one or more Events of Default shall occur,
the Holder may proceed to (i) protect and enforce Holder’s
rights either by suit in equity or by action at law, or both, whether
for the specific performance of any covenant, condition or agreement
contained in this Note or in any agreement or document referred to
herein or in aid of the exercise of any power granted in this Note or
in any agreement or document referred to herein, (ii) enforce the
payment of this Note, or (iii) enforce any other legal or equitable
right of the Holder. No right or remedy herein or in any other
agreement or instrument conferred upon the Holder of this Note is
intended to be exclusive of any other right or remedy, and each and
every such right or remedy shall be cumulative and shall be in addition
to every right and remedy given hereunder or now or hereafter existing
at law or in equity or by statute or
otherwise.

4.10    Denominations.    At the
request of the Holder, upon surrender of this Note, the Maker shall
promptly issue new Notes in the aggregate outstanding principal amount
hereof, in the form hereof, in such denominations of at least $10,000
as the Holder shall request.

4.11    Replacement of
Note.    Upon receipt of evidence reasonably satisfactory to the
Maker of the loss, theft, destruction or mutilation of this Note and,
in the case of any such loss, theft or destruction, upon delivery of an
indemnity agreement reasonably satisfactory in form and amount to the
Maker, or, in the case of any such mutilation, upon surrender and
cancellation of this Note, the Maker, at its expense, will execute and
deliver, in lieu thereof, a new Note of like
tenor.

4.12    Withholding Tax.    The Holder of
this Note agrees to bear the cost of any U.S. withholding tax on
interest payable under this Note.

4.13    Investment
Purpose.    The Holder of this Note, by acceptance hereof,
agrees that this Note is being acquired for investment and that such
Holder will not offer, sell or otherwise dispose of this Note or the
Conversion Securities issuable upon the conversion of this Note except
under circumstances that will not result in a violation of the Act or
any applicable state securities laws or similar laws relating to the
sale of securities.

4.14    Severability.    In
case any provision of this Note is held by a court of competent
jurisdiction to be excessive in scope or otherwise invalid or
unenforceable, such provision shall be adjusted rather than voided, if
possible, so that it is enforceable to the maximum extent possible, and
the validity and enforceability of the remaining provisions of this
Note will not in any way be affected or impaired
thereby.

4.15    Interest Rate.    If any interest
rate specified herein is held to be impermissible, then the rate
charged on the indebtedness represented hereby shall be reduced to the
highest rate then permitted by
law.

4.16    Headings.    The headings of the
sections of this Note are inserted for convenience only and do not
affect the meaning of such section.

5

IN WITNESS WHEREOF, the Maker has caused
this Note to be executed this 5th day of June,
2006.

		CREATIVE ENTERPRISES
INTERNATIONAL,
INC.

		By:____________________________

		Name:

Title:

6

Exhibit 1

NOTICE OF
CONVERSION
OF CONVERTIBLE NOTE

TO:
[                                                    ]

1.        Pursuant
to the terms of the attached Convertible Note (the
‘‘Note’’), the undersigned hereby elects to
convert $       principal
amount of the Note into Conversion Securities of Creative Enterprises
International, Inc. (the ‘‘Maker’’).
Capitalized terms used herein and not otherwise defined herein have the
respective meanings provided in the
Note.

2.        Please issue a certificate or
certificates for the number of Conversion Securities into which such
principal amount of the Note is convertible in the name(s) specified
immediately below or, if additional space is necessary, on an
attachment
hereto:

				
	 			 
	Name			Name
	 			 
	Address			Address
	 			 
	SS
or Tax ID Number			SS or Tax ID
Number
	

3.    In the event of partial
exercise, please reissue an appropriate Note(s) for the balance that
shall not have been converted.

4.    The undersigned
represents and warrants that (i) all of the requirements of the
Securities Act of 1933, as amended (the
‘‘Act’’), applicable to the
undersigned have been complied with by the undersigned and (ii) the
undersigned has not engaged in any transaction or series of
transactions that is a part of or a plan or scheme to evade the
registration requirements of the
Act.

				
	 			________________________________ 
	Date:______________________			Signature of Registered Holder
(Must be signed exactly as name
appears in the Note. The signature must be
notarized.)
	

7

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