Document:

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                                                                    Exhibit 10.3

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                                CREDIT AGREEMENT

                                      AMONG

                         NORTH AMERICAN VAN LINES, INC.,

                        THE FOREIGN SUBSIDIARY BORROWERS
                        FROM TIME TO TIME PARTIES HERETO,

                               THE SEVERAL LENDERS
                        FROM TIME TO TIME PARTIES HERETO,

                              THE BANK OF NEW YORK,
                             AS DOCUMENTATION AGENT

                         BANC OF AMERICA SECURITIES LLC,
                              AS SYNDICATION AGENT

                                       AND

                            THE CHASE MANHATTAN BANK,
                               AS COLLATERAL AGENT
                            AND ADMINISTRATIVE AGENT

                          DATED AS OF NOVEMBER 19, 1999
                       AND AMENDED AS OF NOVEMBER 23, 1999

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            CHASE SECURITIES INC. AND BANC OF AMERICA SECURITIES LLC,
                                  AS ARRANGERS
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                               TABLE OF CONTENTS

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SECTION 1.  DEFINITIONS......................................................2
       1.1  Defined Terms....................................................2
       1.2  Other Definitional Provisions...................................30

SECTION 2.  AMOUNT AND TERMS OF COMMITMENTS.................................31
       2.1  Revolving Credit Commitments....................................31
       2.2  Revolving Credit Notes..........................................31
       2.3  Procedure for Revolving Credit Borrowing........................32
       2.4  Termination or Reduction of Revolving Credit Commitments........33
       2.5  Swing Line Commitments..........................................33
       2.6  Term Loans......................................................35
       2.7  Tranche A Term Notes............................................35
       2.8  Tranche B Term Notes............................................36
       2.9  Procedure for Term Loan Borrowing...............................38
       2.10  Repayment of Loans.............................................38

SECTION 3.  LETTERS OF CREDIT...............................................39
       3.1  L/C Commitment..................................................39
       3.2  Procedure for Issuance of Letters of Credit.....................40
       3.3  Fees, Commissions and Other Charges.............................40
       3.4  L/C Participations..............................................41
       3.5  Reimbursement Obligation of the Borrowers.......................42
       3.6  Obligations Absolute............................................43
       3.7  Letter of Credit Payments.......................................43
       3.8  Application.....................................................44

SECTION 4.   GENERAL PROVISIONS APPLICABLE TO LOANS AND LETTERS OF CREDIT...44
       4.1  Interest Rates and Payment Dates................................44
       4.2  Conversion and Continuation Options.............................44
       4.3  Minimum Amounts of Tranches.....................................45
       4.4  Optional and Mandatory Prepayments and Commitment Reductions....45
       4.5  Commitment Fees; Administrative Agent's Fee; Other Fees.........49
       4.6  Computation of Interest and Fees................................50
       4.7  Inability to Determine Interest Rate............................50
       4.8  Pro Rata Treatment and Payments.................................51
       4.9  Illegality......................................................53
       4.10  Requirements of Law............................................53
       4.11  Taxes..........................................................55
       4.12  Indemnity......................................................57
       4.13  Certain Rules Relating to the Payment of Additional Amounts....58

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       4.14  Controls on Prepayment if Aggregate Outstanding Revolving
               Credit Exceeds Aggregate Revolving Credit Commitments........59

SECTION 5.  REPRESENTATIONS AND WARRANTIES..................................60
       5.1  Financial Condition.............................................60
       5.2  No Change; Solvent..............................................62
       5.3  Corporate Existence; Compliance with Law........................62
       5.4  Corporate Power; Authorization; Enforceable Obligations.........62
       5.5  No Legal Bar....................................................63
       5.6  No Material Litigation..........................................63
       5.7  No Default......................................................63
       5.8  Ownership of Property; Liens....................................63
       5.9  Intellectual Property...........................................64
       5.10  No Burdensome Restrictions.....................................64
       5.11  Taxes..........................................................64
       5.12  Federal Regulations............................................64
       5.13  ERISA..........................................................64
       5.14  Collateral.....................................................65
       5.15  Investment Company Act; Other Regulations......................66
       5.16  Subsidiaries...................................................66
       5.17  Purpose of Loans...............................................66
       5.18  Environmental Matters..........................................66
       5.19  No Material Misstatements......................................67
       5.20  Delivery of the Transaction Documents..........................68
       5.21  Representations and Warranties Contained in the Transaction
               Documents ...................................................68
       5.22  Labor Matters..................................................68
       5.23  Senior Indebtedness............................................68
       5.24  Year 2000......................................................68

SECTION 6.  CONDITIONS PRECEDENT............................................69
       6.1  Conditions to Initial Extension of Credit.......................69
       6.2  Conditions to Each Other Extension of Credit....................75
       6.3  Additional Conditions Applicable to Foreign Subsidiary
              Borrowers.....................................................75

SECTION 7.  AFFIRMATIVE COVENANTS...........................................77
       7.1  Financial Statements............................................77
       7.2  Certificates; Other Information.................................79
       7.3  Payment of Obligations..........................................80
       7.4  Conduct of Business and Maintenance of Existence................80
       7.5  Maintenance of Property; Insurance..............................80
       7.6  Inspection of Property; Books and Records; Discussions..........80
       7.7  Notices.........................................................80
       7.8  Environmental Laws..............................................82
       7.9  After-Acquired Real Property and Fixtures.......................83
       7.10  Acquired Subsidiaries; Further Security and Guarantees.........84

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       7.11  Interest Rate Protection Agreement.............................85
       7.12  Capital Contributions from Holding.............................85
       7.13  Maintenance of New York Process Agent..........................85
       7.14  Updated Survey for California Mortgaged Property...............86

SECTION 8.  NEGATIVE COVENANTS..............................................86
       8.1  Financial Condition Covenants...................................86
       8.2  Limitation on Indebtedness......................................87
       8.3  Limitation on Liens.............................................89
       8.4  Limitation on Guarantee Obligations.............................91
       8.5  Limitation on Fundamental Changes...............................93
       8.6  Limitation on Sale of Assets....................................94
       8.7  Limitation on Loans and Dividends to Holding....................96
       8.8  Limitation on Capital Expenditures..............................97
       8.9  Limitation on Investments, Loans and Advances...................97
       8.10  Limitations on Certain Acquisitions...........................100
       8.11  Limitation on Transactions with Affiliates....................100
       8.12  Limitation on Sales and Leasebacks............................102
       8.13  Limitations on Dispositions of Collateral.....................102
       8.14  Limitation on Changes in Fiscal Year..........................102
       8.15  Limitation on Negative Pledge Clauses.........................102
       8.16  Limitation on Lines of Business; Creation of Subsidiaries.....103
       8.17  Limitation on Optional Payments and Modifications of Debt
               Instruments and other Material Agreements...................103

SECTION 9.  EVENTS OF DEFAULT..............................................104

SECTION 10.  THE ADMINISTRATIVE AGENT AND THE OTHER REPRESENTATIVES........108
       10.1  Appointment...................................................108
       10.2  Delegation of Duties..........................................108
       10.3  Exculpatory Provisions........................................108
       10.4  Reliance by Administrative Agent..............................109
       10.5  Notice of Default.............................................109
       10.6  Acknowledgments and Representations by Lenders................109
       10.7  Indemnification...............................................110
       10.8  Administrative Agent and Other Representatives in Their
               Respective Individual Capacities............................111
       10.9  Successor Administrative Agent................................111
       10.10  Swing Line Lender............................................111
       10.11 Release of Liens in Connection with Permitted Receivables
               Securitization .............................................111

SECTION 11.  MISCELLANEOUS.................................................112
       11.1  Amendments and Waivers........................................112
       11.2  Notices.......................................................115

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       11.3  No Waiver; Cumulative Remedies................................116
       11.4  Survival of Representations and Warranties....................116
       11.5  Payment of Expenses and Taxes.................................116
       11.6  Successors and Assigns; Participations and Assignments........117
       11.7  Adjustments; Set-off..........................................121
       11.8  Counterparts..................................................121
       11.9  Severability..................................................122
       11.10  Integration..................................................122
       11.11  GOVERNING LAW................................................122
       11.12  Submission To Jurisdiction; Waivers..........................122
       11.13  Judgment.....................................................123
       11.14  Acknowledgments..............................................124
       11.15  WAIVER OF JURY TRIAL.........................................124
       11.16  Confidentiality..............................................124
       11.17  Amendment and Restatement....................................125

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SCHEDULES

      I       Commitments; Lending Offices and Addresses
      II      Applicable Margin and Commitment Fee Step-Downs
      III     Designated Foreign Currencies
      IV      Foreign Subsidiary Borrowers
      V       Subsidiary Guarantors
      VI      Indicative Terms of Permitted Receivables Securitizations
      VII     Existing Letters of Credit
      4.4(d)  Fiscal Year End
      5.4     Consents, Authorizations, Notices and Filings Required
      5.14    Filing Jurisdictions and Lien Searches
      5.16    Subsidiaries
      8.2(e)  Permitted Indebtedness
      8.3(j)  Permitted Liens
      8.4(a)  Guarantee Obligations
      8.9(c)  Permitted Investments
      8.11(v) Permitted Transactions with Affiliates

EXHIBITS

    A-1   Form of Revolving Credit Note
    A-2   Form of Tranche A Term Note
    A-3   Form of Tranche B Term Note
    A-4   Form of Swing Line Note
    B     Form of Guarantee and Collateral Agreement
    C     Form of U.S. Tax Compliance Certificate
    D     Form of Prepayment Option Notice
    E     Form of Mortgage
    F     Form of Landlord Consent
    G-1   Form of Opinion of Special Counsel to the Borrowers
    G-2   Form of Opinion of Local Counsel to the Borrowers
    G-3   Form of Opinion of Counsel to the Foreign Subsidiary Borrowers
    H     Form of Assignment and Acceptance
    I     Form of Swing Line Loan Participation Certificate
    J     Form of Borrowing Certificate
    K     Form of Joinder Agreement
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            CREDIT AGREEMENT, dated as of November 19, 1999 and amended as of
November 23, 1999, among NORTH AMERICAN VAN LINES, INC., a Delaware corporation
(the "Parent Borrower"), THE FOREIGN SUBSIDIARY BORROWERS (as hereinafter
defined) (the Foreign Subsidiary Borrowers, together with the Parent Borrower,
being collectively referred to as the "Borrowers" and each of them individually
being referred to as a "Borrower"), the several banks and other financial
institutions from time to time parties to this Agreement (the "Lenders"), THE
BANK OF NEW YORK, as documentation agent (in such capacity, the "Documentation
Agent"), BANC OF AMERICA SECURITIES LLC, as syndication agent (in such capacity,
the "Syndication Agent"), and THE CHASE MANHATTAN BANK, a New York banking
corporation, as collateral agent and administrative agent for the Lenders
hereunder (in such capacities, the "Administrative Agent").

            The parties hereto hereby agree as follows:

            WHEREAS, the Parent Borrower and certain of the Parent Borrower's
wholly owned subsidiaries propose to acquire (the "Acquisition") substantially
all of the capital stock (or substantially all of the assets) of certain
subsidiaries of NFC plc, a company organized under the laws of England and Wales
(the "Seller"), that are engaged in the Seller's moving services business (the
"Acquired Business"), including without limitation Allied Van Lines Inc., for
approximately (a) $400,000,000 in cash, (b) 24,500 shares of preferred stock of
NA Holding Corporation, a Delaware corporation and the holding company parent of
the Parent Borrower ("Holding"), having an initial liquidation preference of
$24,500,000, (c) 174,961 shares of common stock of Holding, representing
approximately 20% of Holding's issued and outstanding common stock (giving
effect to vested options as of September 14, 1999), and (d) a warrant to
purchase 87,480 shares of common stock of Holding at an exercise price of $400
per share, pursuant to the terms of the Acquisition Agreement, dated as of
September 14, 1999 (as amended, supplemented or otherwise modified from time to
time, the "Acquisition Agreement"), between Holding and the Seller;

            WHEREAS, in order to (a) finance a portion of the purchase price of
the Acquisition, (b) refinance certain existing indebtedness of the Parent
Borrower, (c) pay certain transaction fees and expenses related to the
Acquisition, not to exceed $30,000,000 and (d) finance the working capital and
other business requirements of the Parent Borrower and its subsidiaries
following the consummation of the Acquisition, (w) the Parent Borrower intends
to issue approximately $150,000,000 of senior subordinated unsecured notes in a
Rule 144A private placement, (x) Holding intends to issue senior discount notes
for gross cash proceeds of approximately $35,000,000, (y) Holding intends to
borrow $40,000,000, which loan is contemplated to be repaid by December 31, 1999
with the proceeds of equity committed to be provided, and (z) the Parent
Borrower has requested that the Lenders make the Loans and issue and participate
in the Letters of Credit (as such terms are hereinafter defined) provided for
herein; and

            WHEREAS, all the obligations of the Borrowers hereunder will be
secured by, among other things, (a) a perfected lien on and security interest in
certain collateral described in the Security Documents (such term and each other
capitalized term used in this paragraph and not otherwise previously defined, as
hereinafter defined), (b) a pledge of all the issued and outstanding Capital
Stock (other than any such Capital Stock owned by unrelated third parties) of
the Parent Borrower and each Domestic Subsidiary of the Parent Borrower that is
a Material Subsidiary, whether now existing or subsequently organized or
acquired, (c) a pledge of the issued and outstanding Capital Stock of each
Foreign Subsidiary Holdco and each Foreign Subsidiary of the Parent Borrower
that is not a Subsidiary

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of a Foreign Subsidiary Holdco, in each case, whether now existing or
subsequently organized or acquired (which security interest shall not apply to
more than 65% of the Capital Stock of any such Foreign Subsidiary Holdco or
Foreign Subsidiary), and (d) agreements evidencing unconditional guarantees of
payment and performance by each of the Guarantors;

            NOW, THEREFORE, in consideration of the premises and the mutual
agreements contained herein, the parties hereto agree as follows:

                             SECTION 1. DEFINITIONS

            1.1 Defined Terms. As used in this Agreement, the following terms
shall have the following meanings:

            "ABR": for any day, a rate per annum (rounded upwards, if necessary,
      to the next 1/16 of 1%) equal to the greatest of (a) the Prime Rate in
      effect on such day, (b) the Base CD Rate in effect on such day plus 1% and
      (c) the Federal Funds Effective Rate in effect on such day plus 2 of 1%.
      For purposes hereof: "Prime Rate" shall mean the rate of interest per
      annum publicly announced from time to time by Chase as its prime rate in
      effect at its principal office in New York City (the Prime Rate not being
      intended to be the lowest rate of interest charged by Chase in connection
      with extensions of credit to debtors); "Base CD Rate" shall mean the sum
      of (a) the product of (i) the Three-Month Secondary CD Rate and (ii) a
      fraction, the numerator of which is one and the denominator of which is
      one minus the C/D Reserve Percentage and (b) the C/D Assessment Rate;
      "Three-Month Secondary CD Rate" shall mean, for any day, the secondary
      market rate for three-month certificates of deposit reported as being in
      effect on such day (or, if such day shall not be a Business Day, the next
      preceding Business Day) by the Board of Governors of the Federal Reserve
      System (the "Board") through the public information telephone line of the
      Federal Reserve Bank of New York (which rate will, under the current
      practices of the Board, be published in Federal Reserve Statistical
      Release H.15(519) during the week following such day), or, if such rate
      shall not be so reported on such day or such next preceding Business Day,
      the average of the secondary market quotations for three-month
      certificates of deposit of major money center banks in New York City
      received at approximately 10:00 A.M., New York City time, on such day (or,
      if such day shall not be a Business Day, on the next preceding Business
      Day) by the Administrative Agent from three New York City negotiable
      certificate of deposit dealers of recognized standing selected by it; and
      "Federal Funds Effective Rate" shall mean, for any day, 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 on the next succeeding Business Day by the Federal Reserve Bank
      of New York, or, if such rate is not so published for any day which is a
      Business Day, the average of the quotations for the day of such
      transactions received by the Administrative Agent from three federal funds
      brokers of recognized standing selected by it. Any change in the ABR due
      to a change in the Prime Rate, the Three-Month Secondary CD Rate or the
      Federal Funds Effective Rate shall be effective as of the opening of
      business on the effective day of such change in the Prime Rate, the
      Three-Month Secondary CD Rate or the Federal Funds Effective Rate,
      respectively.

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            "ABR Loans": Loans the rate of interest applicable to which is based
      upon the ABR.

            "Acceleration": as defined in Section 9(e).

            "Accepting Lenders": as defined in subsection 4.4(g).

            "Accounts": as defined in the Uniform Commercial Code as in effect
      in the State of New York; and, with respect to the Parent Borrower and its
      Domestic Subsidiaries, all such Accounts of such Persons, whether now
      existing or existing in the future, including, without limitation, (i) all
      accounts receivable of such Person (whether or not specifically listed on
      schedules furnished to the Administrative Agent) including, without
      limitation, all accounts created by or arising from all of such Person's
      sales of goods or rendition of services made under any of its trade names,
      or through any of its divisions, (ii) all unpaid rights of such Person
      (including rescission, replevin, reclamation and stopping in transit)
      relating to the foregoing or arising therefrom, (iii) all rights to any
      goods represented by any of the foregoing, including returned or
      repossessed goods, (iv) all reserves and credit balances held by such
      Person with respect to any such accounts receivable or any Obligors, (v)
      all letters of credit, guarantees or collateral for any of the foregoing
      and (vi) all insurance policies or rights relating to any of the
      foregoing.

            "Acquired Business": as defined in the Recitals hereto.

            "Acquisition": as defined in the Recitals hereto.

            "Acquisition Agreement": as defined in the Recitals hereto.

            "Adjustment Date": each date occurring after the completion of the
      first fiscal quarter of the Parent Borrower after the Effective Date that
      is the second Business Day following receipt by the Lenders of both (i)
      the financial statements required to be delivered pursuant to subsection
      7.1(c) or 7.1(d), as applicable, for the most recently completed fiscal
      period and (ii) the related compliance certificate required to be
      delivered pursuant to subsection 7.2(b) with respect to such fiscal
      period.

            "Administrative Agent": as defined in the Preamble hereto.

            "Affected Eurocurrency Loans": as defined in subsection 4.9.

            "Affected Eurocurrency Rate": as defined in subsection 4.7.

            "Affiliate": as to any Person, any other Person (other than a
      Subsidiary) which, directly or indirectly, is in control of, is controlled
      by, or is under common control with, such Person. For purposes of this
      definition, "control" of a Person means the power, directly or indirectly,
      either to (a) vote 20% or more of the securities having ordinary voting
      power for the election of directors of such Person or (b) direct or cause
      the direction of the management and policies of such Person, whether by
      contract or otherwise.

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            "Agents": those independently owned local moving and storage
      companies that have entered into certain contractual arrangements with the
      Parent Borrower or any of its Subsidiaries to provide customers with the
      local sales, packing and warehousing services and a portion of the hauling
      services required to support the interstate moving operators of the Parent
      Borrower and its Subsidiaries, or any combination of such services.

            "Aggregate Outstanding Revolving Credit": as to any Revolving Credit
      Lender at any time, an amount equal to the sum of (a) the aggregate
      principal amount of all Revolving Credit Loans made by such Revolving
      Credit Lender then outstanding (including, without limitation, in the case
      of Revolving Credit Loans then outstanding in any Designated Foreign
      Currency, the Dollar Equivalent of the aggregate principal amount
      thereof), (b) such Revolving Credit Lender's Revolving Credit Commitment
      Percentage of the L/C Obligations then outstanding and (c) such Revolving
      Credit Lender's Revolving Credit Commitment Percentage of the Swing Line
      Loans then outstanding.

            "Agreement": this Credit Agreement, as amended, supplemented, waived
      or otherwise modified from time to time.

            "Applicable Margin": (i) as applied to a given Type of Tranche B
      Term Loans, the rate per annum set forth under the relevant column heading
      below:

                  ABR Loans               Eurocurrency Loans
                  ---------               ------------------
                    3.00%                       4.00%

      provided that the foregoing margins shall be reduced to 2.75%, in the case
      of ABR Loans, and 3.75%, in the case of Eurocurrency Loans, on the first
      Adjustment Date for which the Leverage Ratio, determined from the
      financial statements and compliance certificate relating to the end of the
      fiscal quarter immediately preceding such Adjustment Date, is less than
      3.75 to 1.00;

            (ii) as applied to a given Type of Revolving Credit Loans or Tranche
      A Term Loans, the rate per annum determined as follows: During the period
      from the Effective Date until the first Adjustment Date, the Applicable
      Margin in respect of Revolving Credit Loans and Tranche A Term Loans shall
      equal (A) with respect to ABR Loans, 2.00% per annum and (B) with respect
      to Eurocurrency Loans, 3.00% per annum. Such Applicable Margin will be
      adjusted on each Adjustment Date to the applicable rate per annum set
      forth under the heading "ABR Loans Applicable Margin" or "Eurocurrency
      Loans Applicable Margin" on Schedule II which corresponds to the
      achievement of certain performance criteria determined from the financial
      statements and compliance certificate relating to the end of the fiscal
      quarter immediately preceding such Adjustment Date; provided that in the
      event that the financial statements required to be delivered pursuant to
      subsection 7.1(c) or 7.1(d), as applicable, and the related compliance
      certificate required to be delivered pursuant to subsection 7.2(b), are
      not delivered when due, then

                  (a) if such financial statements and certificate are delivered
            after the date such financial statements and certificate were
            required to be delivered (without giving effect

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            to any applicable cure period) and the Applicable Margin increases
            from that previously in effect as a result of the delivery of such
            financial statements, then the Applicable Margin in respect of
            Revolving Credit Loans and Tranche A Term Loans during the period
            from the date upon which such financial statements were required to
            be delivered (without giving effect to any applicable cure period)
            until the date upon which they actually are delivered shall, except
            as otherwise provided in clause (c) below, be the Applicable Margin
            as so increased;

                  (b) if such financial statements and certificate are delivered
            after the date such financial statements and certificate were
            required to be delivered and the Applicable Margin decreases from
            that previously in effect as a result of the delivery of such
            financial statements, then such decrease in the Applicable Margin
            shall not become applicable until the date upon which the financial
            statements and certificate actually are delivered; and

                  (c) if such financial statements and certificate are not
            delivered prior to the expiration of the applicable cure period,
            then, effective upon such expiration, for the period from the date
            upon which such financial statements and certificate were required
            to be delivered (after the expiration of the applicable cure period)
            until two Business Days following the date upon which they actually
            are delivered, the Applicable Margin in respect of Revolving Credit
            Loans and Tranche A Term Loans shall be 3.00% per annum, in the case
            of Eurocurrency Loans, and 2.00% per annum, in the case of ABR Loans
            (it being understood that the foregoing shall not limit the rights
            of the Administrative Agent and the Lenders set forth in Section 9).

            "Application": an application, in such form as the Issuing Lender
      may specify from time to time, requesting the Issuing Lender to open a
      Letter of Credit.

            "Approved Fund": with respect to any Lender that is a fund that
      invests in bank loans, any other fund that invests in bank loans which is
      managed or advised by the same investment advisor as such Lender or by an
      affiliate of such investment advisor.

            "Arrangers": CSI and BAS in their respective capacities as arrangers
      and as joint financial advisors.

            "Asset Sale": any sale, issuance, conveyance, transfer, lease or
      other disposition (a "Disposition") by Holding or any of its Subsidiaries,
      in one or a series of related transactions, of any real or personal,
      tangible or intangible, property (including, without limitation, Capital
      Stock) of Holding or such Subsidiary to any Person (other than to Holding
      or any of its Wholly Owned Subsidiaries) which yields gross proceeds to
      Holding or any of its Subsidiaries (valued at the initial principal amount
      thereof in the case of non-cash proceeds consisting of notes or other debt
      securities and valued at fair market value in the case of other non-cash
      proceeds) in excess of $500,000, provided that the term Asset Sale shall
      not include any Disposition by any Insurance Subsidiary of its property in
      the ordinary course of conducting its insurance business.

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            "Assignee": as defined in subsection 11.6(c).

            "Assignment and Acceptance": as defined in subsection 11.6(c).

            "Available Adjustment": as of any date of determination, $10,000,000
      less the sum of (a) all amounts used prior to such date in respect of any
      period to increase EBITDA in accordance with clause (k) of the definition
      thereof and (b) all amounts used prior to such date for Capital
      Expenditures made solely in reliance on clause (b) of subsection 8.8.

            "Available Revolving Credit Commitment": as to any Revolving Credit
      Lender at any time, an amount equal to the excess, if any, of (a) the
      amount of such Revolving Credit Lender's Revolving Credit Commitment at
      such time over (b) the sum of (i) the aggregate unpaid principal amount at
      such time of all Revolving Credit Loans made by such Revolving Credit
      Lender (including, without limitation, in the case of Revolving Credit
      Loans made by such Revolving Credit Lender in any Designated Foreign
      Currency, the Dollar Equivalent of the aggregate unpaid principal amount
      thereof), (ii) an amount equal to such Revolving Credit Lender's Revolving
      Credit Commitment Percentage of the aggregate unpaid principal amount at
      such time of all Swing Line Loans, provided that for purposes of
      calculating Available Revolving Credit Commitments pursuant to subsection
      4.5(a) such amount shall be zero, and (iii) an amount equal to such
      Revolving Credit Lender's Revolving Credit Commitment Percentage of the
      outstanding L/C Obligations at such time; collectively, as to all the
      Lenders, the "Available Revolving Credit Commitments".

            "BAS": Banc of America Securities LLC.

            "Base CD Rate": as defined in the definition of the term "ABR" in
      this subsection 1.1.

            "Baxendale": Baxendale Insurance Company Ltd., a corporation
      organized under the laws of Ireland and a Wholly Owned Subsidiary of the
      Parent Borrower.

            "Benefitted Lender": as defined in subsection 11.7.

            "Board": as defined in the definition of the term "ABR" in this
      subsection 1.1.

            "Borrowers": as defined in the Preamble hereto.

            "Borrowing Date": any Business Day specified in a notice pursuant to
      subsection 2.3, 2.5, 2.9 or 3.2 as a date on which the Parent Borrower
      requests the Lenders to make Loans hereunder or the Issuing Lender to
      issue Letters of Credit hereunder.

            "Business": as defined in subsection 5.18(a).

            "Business Day": a day other than a Saturday, Sunday or other day on
      which commercial banks in New York, New York are authorized or required by
      law to close, except that, when used in connection with a Eurocurrency
      Loan, "Business Day" shall mean, in the case of any

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                                                                               7

      Eurocurrency Loan in Dollars, any Business Day on which dealings in
      Dollars between banks may be carried on in London, England and New York,
      New York and, in the case of any Eurocurrency Loan in any Designated
      Foreign Currency, a day on which dealings in such Designated Foreign
      Currency between banks may be carried on in London, England and the
      principal financial center of such Designated Foreign Currency as set
      forth on Schedule III; provided, however, that, with respect to notices
      and determinations in connection with, and payments of principal and
      interest on, Loans denominated in Euros, such day is also a day on which
      the Trans-European Automated Real-Time Gross Settlement Express Transfer
      System (TARGET) (or, if such clearing system ceases to be operative, such
      other clearing system (if any) determined by the Administrative Agent to
      be a suitable replacement) is open for settlement of payment in Euros.

            "Capital Expenditures": with respect to any Person for any period,
      the sum of the aggregate of all expenditures (excluding capital
      expenditures made for acquisitions permitted by subsection 8.10) by such
      Person and its consolidated Subsidiaries during such period which, in
      accordance with GAAP, are or should be included in "capital expenditures"
      or similar items reflected in the consolidated statement of cash flows of
      such Person for such period.

            "Capital Stock": any and all shares, interests, participations or
      other equivalents (however designated) of capital stock of a corporation,
      any and all equivalent ownership interests in a Person (other than a
      corporation) and any and all warrants or options to purchase any of the
      foregoing.

            "Cash Equivalents": (a) securities issued or fully guaranteed or
      insured by the United States Government or any agency or instrumentality
      thereof, (b) time deposits, certificates of deposit or bankers'
      acceptances of (i) any Lender or (ii) any commercial bank having capital
      and surplus in excess of $500,000,000 and the commercial paper of the
      holding company of which is rated at least A-2 or the equivalent thereof
      by Standard & Poor's Ratings Group (a division of The McGraw-Hill
      Companies, Inc.) or any successor rating agency ("S&P") or at least P-2 or
      the equivalent thereof by Moody's Investors Service, Inc. or any successor
      rating agency ("Moody's") (or if at such time neither is issuing ratings,
      then a comparable rating of such other nationally recognized rating agency
      as shall be approved by the Administrative Agent in its reasonable
      judgment), (c) commercial paper rated at least A-2 or the equivalent
      thereof by S&P or at least P-2 or the equivalent thereof by Moody's (or if
      at such time neither is issuing ratings, then a comparable rating of such
      other nationally recognized rating agency as shall be approved by the
      Administrative Agent in its reasonable judgment), (d) investments in money
      market funds complying with the risk limiting conditions of Rule 2a-7 or
      any successor rule of the Securities and Exchange Commission under the
      Investment Company Act, and (e) investments similar to any of the
      foregoing denominated in foreign currencies approved by the board of
      directors of the Parent Borrower, in each case provided in clauses (a),
      (b), (c), (d) and (e) above, maturing within twelve months after the date
      of acquisition.

            "CD&R": Clayton, Dubilier & Rice, Inc.

<PAGE>
                                                                               8

            "CD&R Fund V": Clayton, Dubilier & Rice Fund V Limited Partnership,
      a Cayman Islands exempted limited partnership managed by CD&R.

            "CD&R Group": CD&R Fund V, CD&R and their Affiliates (other than any
      Persons who are Affiliates solely by virtue of their direct or indirect
      ownership interests in Holding) and any other investment fund or vehicle
      managed, sponsored or advised by CD&R, or any Affiliate (other than any
      Person who is an Affiliate solely by virtue of its direct or indirect
      ownership interest in Holding) of or successor to CD&R, CD&R Fund V or any
      such other investment fund or vehicle.

            "C/D Assessment Rate": for any day as applied to any ABR Loan, the
      annual assessment rate in effect on such day which is payable by a member
      of the Bank Insurance Fund classified as well-capitalized and within
      supervisory subgroup "B" (or a comparable successor assessment risk
      classification) within the meaning of 12 C.F.R. ss.327.4 (or any successor
      provision) to the Federal Deposit Insurance Corporation (or any successor)
      for such Corporation's (or such successor's) insuring time deposits at
      offices of such institution in the United States.

            "C/D Reserve Percentage": for any day as applied to any ABR Loan,
      that percentage (expressed as a decimal) which is in effect on such day,
      as prescribed by the Board, for determining the maximum reserve
      requirement for a Depositary Institution (as defined in Regulation D of
      the Board) in respect of new non-personal time deposits in Dollars of
      $100,000 or more having a maturity of 30 days or more.

            "Change in Consolidated Working Capital": for any period, the amount
      of Consolidated Working Capital at the beginning of such period minus the
      amount of Consolidated Working Capital at the end of such period.

            "Change of Control": the occurrence of any of the following events:
      (i) prior to the initial registered public offering of Holding's Voting
      Stock, the Equity Investors and their Affiliates shall in the aggregate
      beneficially own shares of Voting Stock having less than 51% of the total
      voting power of all outstanding shares of Voting Stock of Holding, (ii) on
      and after the date of the initial registered public offering of Holding's
      Voting Stock, (a) any Person or "group" (within the meaning of Section
      13(d) or 14(d) of the Exchange Act), other than one or more of the Equity
      Investors and their Affiliates, shall have acquired beneficial ownership
      of more than 35% of the outstanding shares of Voting Stock of Holding or
      (b) the board of directors of Holding shall cease to consist of a majority
      of Continuing Directors, (iii) Holding shall cease to own 100% of the
      Capital Stock of the Parent Borrower or (iv) a change of control shall
      have occurred under the Preferred Stock Certificate of Designation, any
      other certificate of designation setting forth the terms of any other
      issued and outstanding preferred stock of Holding, any Indenture or any
      other indenture pursuant to which Holding or any of its Subsidiaries has
      issued and outstanding Indebtedness; as used in this paragraph "Voting
      Stock" shall mean shares of Capital Stock entitled to vote generally in
      the election of directors.

            "Chase": The Chase Manhattan Bank, a New York banking corporation.

            "Code": the Internal Revenue Code of 1986, as amended from time to
      time.

<PAGE>
                                                                               9

            "Collateral": all assets of the Loan Parties, now owned or hereafter
      acquired, upon which a Lien is purported to be created by any Security
      Document.

            "Commitment Fee Rate": 2 of 1% per annum; provided, that on and
      after the first Adjustment Date, the Commitment Fee Rate will be the
      applicable rate per annum set forth on Schedule II under the heading
      "Commitment Fee" (determined on each Adjustment Date in the same manner as
      described in the definition of "Applicable Margin").

            "Commercial Letter of Credit": as defined in subsection 3.1(a).

            "Commonly Controlled Entity": an entity, whether or not
      incorporated, which is under common control with the Parent Borrower
      within the meaning of Section 4001 of ERISA or is part of a group which
      includes the Parent Borrower and which is treated as a single employer
      under Section 414 of the Code.

            "Consolidated Interest Coverage Ratio": at the last day of each
      fiscal quarter of the Parent Borrower, and with respect to the period of
      four fiscal quarters ending on such date, the ratio of (a) an amount equal
      to EBITDA for such period to (b) Consolidated Interest Expense for such
      period.

            "Consolidated Interest Expense": for any period, (a) interest
      expense (accrued and paid or payable in cash for such period, and in any
      event excluding any amortization or write-off of financing costs) on
      Indebtedness of the Parent Borrower and its consolidated Subsidiaries for
      such period, plus (b) cash dividend payments, or loans and advances, to
      Holding made during such period in respect of the Holding Preferred Stock,
      any Holding Subordinated Exchange Debentures, the Holding Loan and the
      Holding Senior Discount Notes, minus (c) interest income (accrued and
      received or receivable in cash for such period) of the Parent Borrower and
      its consolidated Subsidiaries (other than Insurance Subsidiaries) for such
      period, in each case determined on a consolidated basis in accordance with
      GAAP; provided that in the event of the consummation of a Permitted
      Receivables Securitization, "Consolidated Interest Expense" shall be
      adjusted to include (without duplication) an amount equal to the interest
      (or other fees in the nature of interest or discount accrued and paid or
      payable in cash for such period) on such Permitted Receivables
      Securitization.

            "Consolidated Net Income": for any period, net income of the Parent
      Borrower and its consolidated Subsidiaries for such period, determined on
      a consolidated basis in accordance with GAAP.

            "Consolidated Senior Debt": all Consolidated Total Funded
      Indebtedness/ Securitizations other than Subordinated Debt.

            "Consolidated Total Funded Indebtedness/Securitizations": at the
      date of determination thereof, (i) all Indebtedness of the Parent Borrower
      and its consolidated Subsidiaries which by its terms matures more than one
      year after the date of its creation, and any such Indebtedness

<PAGE>
                                                                              10

      maturing within one year from such date which is renewable or extendable
      at the option of the obligor to a date more than one year from such date
      including, in any event, all current maturities and current sinking fund
      payments in respect of such Indebtedness whether or not required to be
      paid within one year from the date of its creation and, in the case of the
      Borrowers, Indebtedness in respect of the Loans and the Senior
      Subordinated Notes, in each case determined on a consolidated basis in
      accordance with GAAP plus (ii) without duplication of amounts included in
      clause (i) above, an amount equal to the aggregate cash proceeds received
      by the Parent Borrower or any Subsidiary from an unrelated third party
      (net of amounts repaid) from the financing of Accounts pursuant to any
      Permitted Receivables Securitization which are outstanding at the date of
      determination minus (iii) if there are no Revolving Credit Loans or Swing
      Line Loans then outstanding, the aggregate amount of all cash and Cash
      Equivalents of the Parent Borrower and its consolidated Subsidiaries, to
      the extent such cash and Cash Equivalents are on deposit in one or more
      accounts maintained with the Administrative Agent and are not subject to
      any Lien in favor of a third party (other than the Lien in favor of the
      Administrative Agent for the benefit of the Lenders). In determining under
      clause (i) of this definition the Indebtedness of the Parent Borrower and
      its consolidated Subsidiaries under or in respect of any Permitted
      Receivables Securitization or under clause (ii) of this definition the
      amount equal to the aggregate cash proceeds received by the Parent
      Borrower or any such Subsidiary from the financing of any Accounts
      pursuant to any Permitted Receivables Securitization, such Indebtedness or
      amount shall be reduced by any escrowed or pledged cash proceeds which
      effectively secure such Indebtedness or the obligations of the Parent
      Borrower or any such Subsidiary under such Permitted Receivables
      Securitization, to the extent the amount of such cash proceeds has not
      already been applied to reduce Indebtedness of the Parent Borrower and its
      consolidated Subsidiaries pursuant to clause (iii) of this definition.

            "Consolidated Working Capital": at the date of determination
      thereof, the aggregate amount of all current assets (excluding cash, Cash
      Equivalents and deferred taxes recorded as assets) minus the aggregate
      amount of all current liabilities (excluding the Revolving Credit Loans,
      current maturities of long-term debt, working capital debt of Foreign
      Subsidiaries and deferred taxes recorded as liabilities), in each case
      determined on a consolidated basis for the Parent Borrower and its
      consolidated Subsidiaries.

            "Continuing Directors": the directors of Holding on the Effective
      Date, after giving effect to the Acquisition and the other transactions
      contemplated hereby, and each other director, if, in each case, such other
      director's nomination for election to the board of directors of Holding is
      recommended by at least 66-2/3% of the then Continuing Directors or such
      other director receives the affirmative vote of a majority of the votes
      cast by the Equity Investors in respect of Voting Shares of Holding
      beneficially owned by them in the election of such other director by the
      shareholders of Holding.

            "Contractual Obligation": as to any Person, any provision of any
      material security issued by such Person or of any material agreement,
      instrument or other undertaking to which such Person is a party or by
      which it or any of its property is bound.

            "CSI": Chase Securities Inc., a New York corporation.

<PAGE>
                                                                              11

            "Default": any of the acts, conditions or events specified in
      Section 9, whether or not any requirement for the giving of notice (other
      than, in the case of Section 9(e), a Default Notice), the lapse of time,
      or both, or any other condition, has been satisfied.

            "Default Notice": as defined in Section 9(e).

            "Designated Foreign Currencies": the currencies set forth on
      Schedule III and any other available and freely convertible foreign
      currency selected by the Parent Borrower and approved by the
      Administrative Agent and all of the Revolving Credit Lenders in accordance
      with subsection 11.1(b).

            "Disinterested Director": as defined in subsection 8.11.

            "Disposition": as defined in the definition of the term "Asset Sale"
      in this subsection 1.1.

            "Documentation Agent": as defined in the Preamble hereto.

            "Dollar Equivalent": with respect to the principal amount of any
      Eurocurrency Loan made or outstanding in any Designated Foreign Currency
      or any amount in respect of any Letter of Credit denominated in any
      Designated Foreign Currency, at any date of determination thereof, an
      amount in Dollars equivalent to such principal amount or such other amount
      calculated on the basis of the Spot Rate of Exchange.

            "Dollars" and "$": dollars in lawful currency of the United States
      of America.

            "Domestic Subsidiary": any Subsidiary of the Parent Borrower which
      is not a Foreign Subsidiary.

            "EBITDA": for any period, Consolidated Net Income for such period
      adjusted to exclude the following items (without duplication) of income or
      expense to the extent that such items are included in the calculation of
      Consolidated Net Income: (a) Consolidated Interest Expense, (b) any
      non-cash expenses and charges (excluding any such charge that constitutes
      an accrual of or a reserve for cash charges for any future period), (c)
      total income tax expense, (d) depreciation expense, (e) the expense
      associated with amortization of intangible and other assets (including
      amortization or other expense recognition of any costs associated with
      asset write-ups in accordance with APB Nos. 16 and 17), (f) non-cash
      provisions for reserves for discontinued operations, (g) any
      extraordinary, unusual or non-recurring gains or losses or charges or
      credits, (h) any gain or loss associated with the sale or write-down of
      assets not in the ordinary course of business, (i) any income or loss
      accounted for by the equity method of accounting (except in the case of
      income to the extent of the amount of cash dividends or cash distributions
      paid to the Parent Borrower or any Subsidiary by the entity accounted for
      by the equity method of accounting), (j) (i) for any period ending on or
      prior to December 25, 1999, $1,825,000 of insurance expense for each
      fiscal quarter ending during such period (representing an annual saving of
      $7,300,000 insurance expense after giving pro forma effect to the

<PAGE>
                                                                              12

      combination of the Acquired Business and the Parent Borrower) and (ii) for
      any period ending thereafter, for each fiscal quarter ending on or prior
      to December 25, 1999 included in such period, the annualized insurance
      expense savings pro forma for such quarter, with such pro forma savings to
      be calculated by the Parent Borrower and reviewed by
      PricewaterhouseCoopers LLP based on annualization of actual savings on
      insurance expense realized after December 25, 1999 and (k) up to the
      Available Adjustment in respect of any cash expenses for (i) the
      development and implementation of an e-commerce strategy and (ii) the
      development and implementation of new information technology; provided
      that for purposes of calculating EBITDA of the Parent Borrower and its
      consolidated Subsidiaries for any period ending on or prior to December
      29, 2000, the combined EBITDA of the Acquired Business during such period
      shall be included on a pro forma basis for such period (assuming the
      consummation of the Acquisition and the incurrence or assumption of any
      Indebtedness in connection therewith occurred on the first day of such
      period).

            "ECF Percentage": 50%; provided, that with respect to any fiscal
      year of the Parent Borrower ending on or after December 29, 2000, the ECF
      Percentage shall be reduced to 0% if the Leverage Ratio as of the last day
      of such fiscal year is less than 3.5 to 1.0.

            "Effective Date": the time and date, on or before 3:00 p.m., New
      York City time, on November 24, 1999, on which all the conditions
      precedent set forth in subsection 6.1 shall be satisfied or waived.

            "EMU": Economic and Monetary Union as contemplated in the Treaty.

            "Environmental Costs": any and all costs or expenses (including,
      without limitation, attorney's and consultant's fees, investigation and
      laboratory fees, response costs, court costs and litigation expenses,
      fines, penalties, damages, settlement payments, judgments and awards), of
      whatever kind or nature, known or unknown, contingent or otherwise,
      arising out of, or in any way relating to any violation of, noncompliance
      with or liability under any Environmental Laws or any orders,
      requirements, demands, or investigations of any person related to any
      Environmental Laws. Environmental Costs include any and all of the
      foregoing, without regard to whether they arise out of or are related to
      any past, pending or threatened proceeding of any kind.

            "Environmental Laws": any and all applicable foreign, federal,
      state, local or municipal laws, rules, orders, regulations, statutes,
      ordinances, codes, decrees, requirements of any Governmental Authority
      having the force and effect of law or other Requirements of Law
      (including, without limitation, common law) regulating, relating to or
      imposing liability or standards of conduct concerning protection of the
      environment or human health as related to the environment, as now or at
      any relevant time hereafter in effect.

            "Equity Investors": CD&R Fund V, the CD&R Group, the Seller and its
      Subsidiaries, the Management Investors and the other equity investors
      arranged by CD&R and satisfactory to the Administrative Agent and the
      Other Representatives.

<PAGE>
                                                                              13

            "ERISA": the Employee Retirement Income Security Act of 1974, as
      amended from time to time.

            "Euro": the single currency of Participating Member States
      introduced in accordance with the provisions of Article 109(1)4 of the
      Treaty and, in respect of all payments to be made under this Agreement in
      Euros, means immediately available, freely transferable funds.

            "Eurocurrency Base Rate": with respect to each day during each
      Interest Period pertaining to a Eurocurrency Loan, the rate per annum
      determined by the Administrative Agent to be the arithmetic mean (rounded
      to the nearest 1/100th of 1%) of the offered rates for deposits in Dollars
      or in the applicable Designated Foreign Currency with a term comparable to
      such Interest Period that appears on the Telerate British Bankers Assoc.
      Interest Settlement Rates Page (as defined below) at approximately 11:00
      A.M., London time, on the second full Business Day preceding the first day
      of such Interest Period; provided, however, that if there shall at any
      time no longer exist a Telerate British Bankers Assoc. Interest Settlement
      Rates Page, "Eurocurrency Base Rate" shall mean, with respect to each day
      during each Interest Period pertaining to a Eurocurrency Loan, the rate
      per annum equal to the rate at which Chase is offered deposits in Dollars
      or in the applicable Designated Foreign Currency at or about 10:00 A.M.,
      New York City time, two Business Days prior to the beginning of such
      Interest Period in the interbank eurocurrency market where the
      eurocurrency and foreign currency and exchange operations in respect of
      Dollars or such Designated Foreign Currency, as the case may be, are then
      being conducted for delivery on the first day of such Interest Period for
      the number of days comprised therein and in an amount comparable to the
      amount of its Eurocurrency Loan to be outstanding during such Interest
      Period. "Telerate British Bankers Assoc. Interest Settlement Rates Page"
      shall mean the display designated as Page 3750 (or such other page on
      which any Designated Foreign Currency then appears) on the Dow Jones
      Market Service (or such other page as may replace such page for the
      purpose of displaying the rates at which Dollar deposits or deposits in
      any Designated Foreign Currency are offered by leading banks in the London
      interbank deposit market).

            "Eurocurrency Loans": Loans the rate of interest applicable to which
      is based upon the Eurocurrency Rate.

            "Eurocurrency Rate": with respect to each day during each Interest
      Period pertaining to a Eurocurrency Loan, a rate per annum determined for
      such day in accordance with the following formula (rounded upwards to the
      nearest 1/100th of 1%):

                              Eurocurrency Base Rate
                     ----------------------------------------
                     1.00 - Eurocurrency Reserve Requirements

            "Eurocurrency Reserve Requirements": for any day as applied to a
      Eurocurrency Loan, the aggregate (without duplication) of the rates
      (expressed as a decimal fraction) of reserve requirements in effect on
      such day (including, without limitation, basic, supplemental, marginal and
      emergency reserves under any regulations of the Board or other
      Governmental Authority having jurisdiction with respect thereto) dealing
      with reserve requirements prescribed for

<PAGE>
                                                                              14

      eurocurrency funding (currently referred to as "Eurocurrency Liabilities"
      in Regulation D of the Board) maintained by a member bank of the Federal
      Reserve System.

            "Event of Default": any of the acts, conditions or events specified
      in Section 9, provided that any requirement for the giving of notice, the
      lapse of time, or both, or any other condition, has been satisfied.

            "Excess Cash Flow": for any period, EBITDA minus (i) any Capital
      Expenditures made in cash during such period, minus (ii) any principal
      payments (other than principal payments during such period pursuant to
      subsection 4.4(c) or (d) unless and to the extent that the event giving
      rise to such mandatory prepayment causes an increase in EBITDA) on the
      Term Loans made during such period, minus (iii) any principal payments
      resulting in a permanent reduction of any other Indebtedness of the Parent
      Borrower or any of its consolidated Subsidiaries made during such period,
      minus (iv) any portion of Consolidated Interest Expense for such period,
      minus (v) any taxes paid or payable in cash during such period, minus (vi)
      the Net Cash Proceeds from any Asset Sale to the extent that such Net Cash
      Proceeds (A) (without duplication of clause (i) or (vii) of this
      definition) consist of any Reinvested Amount or are otherwise applied in
      accordance with subsection 4.4(c) and (B) are included in the calculation
      of EBITDA, minus (vii) (without duplication of clause (i) of this
      definition) any Investment made in accordance with subsection 8.9(e), (g),
      (i), (l), (o), (p) or (q), minus (viii) the proceeds of any Sale and
      Leaseback Transactions entered into by the Parent Borrower or any of its
      Subsidiaries in accordance with subsection 8.12 during such period in the
      ordinary course of its business to the extent included in EBITDA, minus
      (ix) any earnings included in EBITDA for such period (except to the extent
      that any such earnings are used for any purposes described in clauses (i)
      through (viii) above) of a Receivables Subsidiary to the extent the terms
      of any Permitted Receivables Securitization prohibit the distribution
      thereof to the Parent Borrower or any of its other Subsidiaries, minus (x)
      to the extent not otherwise subtracted from EBITDA in this definition of
      "Excess Cash Flow", any cash dividends, and other loans and advances, made
      during such period by the Parent Borrower or any of its Subsidiaries to
      Holding, so long as such dividends, loans and advances are expressly
      permitted by subsection 8.7, plus (xi) the Change in Consolidated Working
      Capital for such period.

            "Exchange Act": the Securities Exchange Act of 1934, as amended.

            "Existing Credit Agreement": the Credit Agreement, dated as of March
      30, 1998, among the Parent Borrower, the several banks and other financial
      institutions from time to time parties thereto, The Bank of New York, as
      syndication agent, and Chase, as collateral, documentation and
      administrative agent.

            "Existing Letters of Credit": at any time, the letters of credit
      issued by Chase and listed or described on Schedule VII that are
      outstanding on such date.

            "Extension of Credit": as to any Lender, the making of a Loan by
      such Lender or the issuance of, or participation in, a Letter of Credit by
      such Lender.

<PAGE>
                                                                              15

            "Federal Funds Effective Rate": as defined in the definition of the
      term "ABR" in this subsection 1.1.

            "Final Maturity Date": November 18, 2007.

            "Financing Lease": any lease of property, real or personal, the
      obligations of the lessee in respect of which are required in accordance
      with GAAP to be capitalized on a balance sheet of the lessee.

            "FIRREA": the Financial Institutions Reform, Recovery and
      Enforcement Act of 1989, as amended.

            "Foreign Backstop Letters of Credit": any Standby Letter of Credit
      issued to any Person for the account of the Parent Borrower or any Foreign
      Subsidiary Borrower to provide credit support for Indebtedness of any
      Foreign Subsidiary to such Person which is permitted under subsection 8.2.

            "Foreign Subsidiary": any Subsidiary of Holding which is organized
      and existing under the laws of any jurisdiction outside of the United
      States of America or that is a Foreign Subsidiary Holdco.

            "Foreign Subsidiary Borrower": any Foreign Subsidiary which is
      listed as a Foreign Subsidiary Borrower on Schedule IV, as such schedule
      may be amended from time to time pursuant to subsection 11.1(b)
      (including, without limitation, the delivery of the documents required by
      subsection 11.1(b)).

            "Foreign Subsidiary Holdco": North American International Holding
      Corporation, a Delaware corporation, and any other Subsidiary of the
      Parent Borrower that has no material assets other than securities of one
      or more Foreign Subsidiaries, and other assets relating to an ownership
      interest in any such securities or Subsidiaries.

            "Former Plan": any employee benefit plan in respect of which the
      Parent Borrower or a Commonly Controlled Entity has engaged in a
      transaction described in Section 4069 or Section 4212(c) of ERISA.

            "GAAP": with respect to the covenants contained in subsections 8.1
      and 8.8 and all defined terms relating thereto, generally accepted
      accounting principles in the United States of America in effect on the
      Effective Date and, for all other purposes under this Agreement, generally
      accepted accounting principles in the United States of America in effect
      from time to time.

            "Governmental Authority": any nation or government, any state or
      other political subdivision thereof and any entity exercising executive,
      legislative, judicial, regulatory or administrative functions of or
      pertaining to government, including, without limitation, the European
      Union.

<PAGE>
                                                                              16

            "Guarantee and Collateral Agreement": the Guarantee and Collateral
      Agreement to be executed and delivered by Holding, the Parent Borrower,
      each Foreign Subsidiary Borrower listed on Schedule IV attached hereto,
      each Domestic Subsidiary of the Parent Borrower listed on Schedule V
      attached hereto and in existence on the Effective Date and the
      Administrative Agent, substantially in the form of Exhibit B, as the same
      may be amended, supplemented, waived or otherwise modified from time to
      time.

            "Guarantee Obligation": as to any Person (the "guaranteeing
      person"), any obligation of (a) the guaranteeing person or (b) another
      Person (including, without limitation, any bank under any letter of
      credit) to induce the creation of which the guaranteeing person has issued
      a reimbursement, counterindemnity or similar obligation, in either case
      guaranteeing or in effect guaranteeing any Indebtedness, leases, dividends
      or other obligations (the "primary obligations") of any other third Person
      (the "primary obligor") in any manner, whether directly or indirectly,
      including, without limitation, any such obligation of the guaranteeing
      person, whether or not contingent, (i) to purchase any such primary
      obligation or any property constituting direct or indirect security
      therefor, (ii) to advance or supply funds (1) for the purchase or payment
      of any such primary obligation or (2) to maintain working capital or
      equity capital of the primary obligor or otherwise to maintain the net
      worth or solvency of the primary obligor, (iii) to purchase property,
      securities or services primarily for the purpose of assuring the owner of
      any such primary obligation of the ability of the primary obligor to make
      payment of such primary obligation or (iv) otherwise to assure or hold
      harmless the owner of any such primary obligation against loss in respect
      thereof; provided, however, that the term Guarantee Obligation shall not
      include (x) endorsements of instruments for deposit or collection in the
      ordinary course of business or (y) the obligations of any Insurance
      Subsidiary pursuant to insurance policies issued by such Insurance
      Subsidiary in the ordinary course of its insurance business. The amount of
      any Guarantee Obligation of any guaranteeing person shall be deemed to be
      the lower of (a) an amount equal to the stated or determinable amount of
      the primary obligation in respect of which such Guarantee Obligation is
      made and (b) the maximum amount for which such guaranteeing person may be
      liable pursuant to the terms of the instrument embodying such Guarantee
      Obligation, unless such primary obligation and the maximum amount for
      which such guaranteeing person may be liable are not stated or
      determinable, in which case the amount of such Guarantee Obligation shall
      be such guaranteeing person's maximum reasonably anticipated liability in
      respect thereof as determined by the Parent Borrower in good faith.

            "Guarantees": the collective reference to the Guarantee and
      Collateral Agreement and any other guarantee hereafter delivered to the
      Administrative Agent (a copy of which will be provided to each Lender)
      guaranteeing the obligations and liabilities of the Borrowers hereunder,
      under any Interest Rate Protection Agreements entered into with any Lender
      or any affiliate thereof, under any Notes and/or under any of the other
      Loan Documents.

            "Guarantor": any Person delivering a Guarantee pursuant to this
      Agreement.

            "Holding": as defined in the Recitals hereto.

<PAGE>
                                                                              17

            "Holding Loan": the loans, in an aggregate principal amount equal to
      $40,000,000 and due on December 31, 1999, made on the date hereof to
      Holding by the lenders party to the Holding Loan Agreement.

            "Holding Loan Agreement": the Loan Agreement, dated as of the date
      hereof, among Holding and the lenders party thereto.

            "Holding Preferred Stock": Holding's Junior Exchangeable Preferred
      Stock due 2010, as the terms of such Preferred Stock may be amended,
      supplemented or otherwise modified from time to time in accordance with
      Section 5.4.2 of the Guarantee and Collateral Agreement.

            "Holding Senior Discount Note Indenture": the collective reference
      to (a) the Loan Agreement, dated as of the date hereof, among Holding,
      Blue Ridge Investments, LLC and an affiliate of Chase, providing for loans
      in an aggregate principal amount equal to $35,000,000, (b) the indenture,
      to be entered into by Holding and a trustee, in connection with the
      issuance of Holding Senior Discount Notes in exchange for all or any
      portion of the loans made pursuant to the Loan Agreement referred to in
      clause (a), and (c) all instruments and other agreements entered into by
      Holding in connection with the foregoing Loan Agreement and indenture, in
      each case, as such Loan Agreement, indenture or other instrument or
      agreement may be amended, supplemented or otherwise modified from time to
      time in accordance with Section 5.4.2 of the Guarantee and Collateral
      Agreement.

            "Holding Senior Discount Notes": the collective reference to (a) the
      loans made on the Effective Date pursuant to the Loan Agreement referred
      to in clause (a) of the definition of "Holding Senior Discount Note
      Indenture" and (b) the 16% Holding Senior Discount Notes due 2009 of
      Holding issued on or after the Effective Date pursuant to the indenture
      referred to in clause (b) of the definition of "Holding Senior Discount
      Note Indenture".

            "Holding Subordinated Exchange Debentures": the subordinated
      exchange debentures of Holding to be issued upon the exchange in
      accordance with Section 5.4.2 of the Guarantee and Collateral Agreement,
      at Holding's option, of shares of Holding Preferred Stock, together with
      all instruments and other agreements to be entered into by Holding in
      connection therewith, in the form delivered to the Administrative Agent
      pursuant to subsection 6.1(c), as the same may be amended, supplemented or
      otherwise modified from time to time in accordance with Section 5.4.2 of
      the Guarantee and Collateral Agreement.

            "Indebtedness": of any Person at any date, (a) all indebtedness of
      such Person for borrowed money or for the deferred purchase price of
      property or services (other than trade liabilities incurred in the
      ordinary course of business and payable in accordance with customary
      practices), (b) any other indebtedness of such Person which is evidenced
      by a note, bond, debenture or similar instrument, (c) all obligations of
      such Person under Financing Leases, (d) all obligations of such Person in
      respect of bankers' acceptances issued or created for the account of such
      Person, (e) for purposes of subsection 8.2 and Section 9(e) only, all
      obligations of such Person in respect of interest rate protection
      agreements, interest rate futures, interest rate options, interest rate
      caps and any other interest rate hedge arrangements, (f) for purposes of

<PAGE>
                                                                              18

      subsection 8.2 hereof and Section 5.4.2 of the Guarantee and Collateral
      Agreement only, the Holding Preferred Stock, (g) for purposes of
      subsection 8.2 only, all other preferred stock issued by such Person
      which, pursuant to its terms, is subject to mandatory redemption,
      retirement or acquisition by such Person on or prior to the Final Maturity
      Date and which redemption, retirement or acquisition is not contingent on
      any condition (other than the passage of time) yet to be satisfied and (h)
      all indebtedness or obligations of the types referred to in the preceding
      clauses (a) through (g) secured by any Lien on any property owned by such
      Person even though such Person has not assumed or otherwise become liable
      for the payment thereof.

            "Indemnified Liabilities": as defined in subsection 11.5.

            "Indentures": the collective reference to the Senior Subordinated
      Note Indenture, the Holding Senior Discount Note Indenture and the Holding
      Subordinated Exchange Debentures.

            "Insolvency": with respect to any Multiemployer Plan, the condition
      that such Plan is insolvent within the meaning of Section 4245 of ERISA.

            "Insolvent": pertaining to a condition of Insolvency.

            "Insurance Subsidiaries": the collective reference to Baxendale,
      TransGuard and NATIC.

            "Intellectual Property": as defined in subsection 5.9.

            "Interest Payment Date": (a) as to any ABR Loan, the last day of
      each March, June, September and December to occur while such Loan is
      outstanding, and the final maturity date of such Loan, (b) as to any
      Eurocurrency Loan having an Interest Period of three months or less, the
      last day of such Interest Period, and (c) as to any Eurocurrency Loan
      having an Interest Period longer than three months, (x) each day which is
      three months, or a whole multiple thereof, after the first day of such
      Interest Period and (y) the last day of such Interest Period.

            "Interest Period": with respect to any Eurocurrency Loan:

                  (i) initially, the period commencing on the borrowing or
            conversion date, as the case may be, with respect to such
            Eurocurrency Loan and ending one, two, three or six months
            thereafter, as selected by the Parent Borrower in its notice of
            borrowing or notice of conversion, as the case may be, given with
            respect thereto; and

                  (ii) thereafter, each period commencing on the last day of the
            next preceding Interest Period applicable to such Eurocurrency Loan
            and ending one, two, three or six months thereafter, as selected by
            the Parent Borrower by irrevocable notice to the Administrative
            Agent not less than three Business Days prior to the last day of the
            then current Interest Period with respect thereto;

<PAGE>
                                                                              19

      provided that, all of the foregoing provisions relating to Interest
      Periods are subject to the following:

                  (1) if any Interest Period would otherwise end on a day that
            is not a Business Day, such Interest Period shall be extended to the
            next succeeding Business Day unless the result of such extension
            would be to carry such Interest Period into another calendar month
            in which event such Interest Period shall end on the immediately
            preceding Business Day;

                  (2) any Interest Period that would otherwise extend beyond the
            Termination Date (in the case of the Tranche A Term Loans and the
            Revolving Credit Loans) or beyond the Final Maturity Date (in the
            case of the Tranche B Term Loans) shall (for all purposes other than
            subsection 4.12) end on the Termination Date or the Final Maturity
            Date, as the case may be;

                  (3) any Interest Period that begins on the last Business Day
            of a calendar month (or on a day for which there is no numerically
            corresponding day in the calendar month at the end of such Interest
            Period) shall end on the last Business Day of a calendar month; and

                  (4) the Parent Borrower shall select Interest Periods so as
            not to require a scheduled payment of any Eurocurrency Loan during
            an Interest Period for such Loan.

            "Interest Rate Protection Agreement": any interest rate protection
      agreement, interest rate future, interest rate option, interest rate cap
      or collar or other interest rate hedge arrangement with a financial
      institution reasonably acceptable to the Administrative Agent and the
      Syndication Agent, to or under which the Parent Borrower or any of the
      Foreign Subsidiary Borrowers is a party or a beneficiary on the Effective
      Date or becomes a party or a beneficiary after the Effective Date.

            "Inventory": as defined in the Uniform Commercial Code as in effect
      in the State of New York.

            "Investment Company Act": the Investment Company Act of 1940, as
      amended.

            "Investments": as defined in subsection 8.9.

            "Issuing Lender": Chase or any of its affiliates (including, without
      limitation, Chase Manhattan Bank Delaware), in its capacity as issuer of
      any Letter of Credit.

            "Joinder Agreement": as defined in subsection 11.1(b)(i).

            "L/C Fee Payment Date": with respect to any Letter of Credit, (a)
      the last day of each March, June, September and December occurring after
      the date of issuance thereof and prior to the expiration thereof and (b)
      if such Letter of Credit is outstanding on such day, the last day of the
      Revolving Credit Commitment Period.

<PAGE>
                                                                              20

            "L/C Obligations": at any time, an amount equal to the sum of (a)
      the aggregate then undrawn and unexpired amount of the then outstanding
      Letters of Credit (including, without limitation, in the case of
      outstanding Letters of Credit in any Designated Foreign Currency, the
      Dollar Equivalent of the aggregate then undrawn and unexpired amount
      thereof) and (b) the aggregate amount of drawings under Letters of Credit
      which have not then been reimbursed pursuant to subsection 3.5(a)
      (including, without limitation, in the case of Letters of Credit in any
      Designated Foreign Currency, the Dollar Equivalent of the unreimbursed
      aggregate amount of drawings thereunder, to the extent that such amount
      has not been converted into Dollars in accordance with subsection 3.5(a)).

            "L/C Participants": the collective reference to all the Revolving
      Credit Lenders other than the Issuing Lender.

            "Lenders": as defined in the Preamble hereto.

            "Letters of Credit": as defined in subsection 3.1(a).

            "Leverage Ratio": at the last day of each fiscal quarter of the
      Parent Borrower, the ratio of (a) Consolidated Total Funded
      Indebtedness/Securitizations at such date to (b) EBITDA for the period of
      four full fiscal quarters ending on such date.

            "Lien": any mortgage, pledge, hypothecation, assignment, security
      deposit arrangement, encumbrance, lien (statutory or other), charge or
      other security interest or any preference, priority or other security
      agreement or preferential arrangement of any kind or nature whatsoever
      (including, without limitation, any conditional sale or other title
      retention agreement and any Financing Lease having substantially the same
      economic effect as any of the foregoing).

            "Loan": a Revolving Credit Loan, a Tranche A Term Loan, a Tranche B
      Term Loan or a Swing Line Loan, as the context shall require;
      collectively, the "Loans".

            "Loan Documents": this Agreement, any Notes, the Applications, the
      Guarantees, the Security Documents, the Syndication Letter Agreement and
      any Joinder Agreement.

            "Loan Parties": Holding, the Parent Borrower, each Foreign
      Subsidiary Borrower and each other Subsidiary of the Parent Borrower which
      is a party to a Loan Document; individually, a "Loan Party".

            "Management Investors": the collective reference to the Agents and
      the officers, directors, employees and managers of, or consultants to, the
      Parent Borrower, Holding or any of their Subsidiaries, or family members
      or relatives thereof or trusts for the benefit of any of the foregoing, or
      any of their heirs, executors, successors or legal representatives, who at
      any particular date shall beneficially own or have the right to acquire,
      directly or indirectly, common stock of Holding.

<PAGE>
                                                                              21

            "Management Subscription Agreements": one or more stock
      subscription, stock option, grant or other agreements which have been or
      may be entered into between Holding and certain Management Investors, with
      respect to the issuance to such parties of common stock of Holding or
      options, warrants or other rights in respect of common stock of Holding,
      any agreements entered into from time to time by transferees of any such
      stock, options, warrants or other rights in connection with the sale,
      transfer or reissuance thereof, and any assumptions of any of the
      foregoing by third parties, as amended, supplemented, waived or otherwise
      modified from time to time.

            "Material Adverse Change": as defined in subsection 5.2(a).

            "Material Adverse Effect": a material adverse effect on (a) the
      business, operations, property, condition (financial or otherwise) or
      prospects of Holding and the Subsidiaries taken as a whole or (b) the
      validity or enforceability of this Agreement, any of the Notes or any of
      the other Loan Documents taken as a whole or the rights and remedies of
      the Administrative Agent and the Lenders under the Loan Documents taken as
      a whole.

            "Materials of Environmental Concern": any gasoline or petroleum
      (including crude oil or any fraction thereof) or petroleum products or any
      hazardous or toxic substances, materials, wastes, pollutants or
      contaminants, defined or regulated as such in or under or which may give
      rise to liability under any applicable Environmental Law, including,
      without limitation, asbestos, polychlorinated biphenyls and
      urea-formaldehyde insulation.

            "Material Subsidiary": the collective reference to (a) any
      Subsidiary of the Parent Borrower that had (i) total revenues of more than
      $2,000,000 during the most recently completed period of four consecutive
      fiscal quarters of Holding or (ii) total assets of more than $1,000,000 as
      of the last day of such period, (b) FrontRunner Worldwide, Inc. and (c)
      Relocation Management Systems, Inc.

            "Moody's": as defined in the definition of the term "Cash
      Equivalents" in this subsection 1.1.

            "Mortgages": each of the mortgages to be executed and delivered by
      the Parent Borrower and its Subsidiaries substantially in the form of
      Exhibit E, as the same may be amended, supplemented, waived or otherwise
      modified from time to time.

            "MSS": Manufacturing Support Services, L.L.C., a Delaware limited
      liability company and a Subsidiary of the Parent Borrower.

            "Multiemployer Plan": a Plan which is a multiemployer plan as
      defined in Section 4001(a)(3) of ERISA.

            "NATIC": North American Transport Insurance Company, an Indiana
      corporation and a Wholly Owned Subsidiary of the Parent Borrower.

<PAGE>
                                                                              22

            "Net Cash Proceeds": with respect to any Asset Sale (including any
      Sale and Leaseback Transaction permitted under subsection 8.12), any
      issuance of any debt securities or any borrowings by Holding or any of its
      Subsidiaries (other than issuances and borrowings permitted pursuant to
      subsection 8.2 hereof and Section 5.4.2 of the Guarantee and Collateral
      Agreement), any Permitted Receivables Securitization, an amount equal to
      the gross proceeds in cash and Cash Equivalents of such Asset Sale, sale,
      issuance, borrowing or Permitted Receivables Securitization, net of (i)
      reasonable attorneys' fees, accountants' fees, brokerage, consultant and
      other customary fees, underwriting commissions and other reasonable fees
      and expenses actually incurred in connection with such Asset Sale, sale,
      issuance, borrowing or Permitted Receivables Securitization, (ii) taxes
      paid or reasonably estimated to be payable as a result thereof, (iii)
      appropriate amounts provided or to be provided by Holding or any of its
      Subsidiaries as a reserve, in accordance with GAAP, against any
      liabilities associated with such Asset Sale and retained by Holding or any
      such Subsidiary after such Asset Sale and other appropriate amounts to be
      used by Holding or any of its Subsidiaries to discharge or pay on a
      current basis any other liabilities associated with such Asset Sale, (iv)
      in the case of a sale or Sale and Leaseback Transaction of or involving an
      asset subject to a Lien securing any Indebtedness, payments made and
      installment payments required to be made to repay such Indebtedness,
      including payments in respect of principal, interest and prepayment
      premiums and penalties and (v) in the case of any Permitted Receivables
      Securitization, any escrowed or pledged cash proceeds which effectively
      secure, or are required to be maintained as reserves by the applicable
      Receivables Subsidiary for, the Indebtedness of the Parent Borrower and
      its Subsidiaries in respect of, or the obligations of the Parent Borrower
      and its Subsidiaries under, such Permitted Receivables Securitization.

            "New York Process Agent": as defined in subsection 11.12(b).

            "Non-Excluded Taxes": as defined in subsection 4.11.

            "Notes": the collective reference to the Revolving Credit Notes, the
      Swing Line Note, the Tranche A Term Notes and the Tranche B Term Notes.

            "Obligor": any purchaser of goods or services or other Person
      obligated to make payment to the Parent Borrower or a Subsidiary in
      respect of a purchase of such goods or services.

            "Other Representatives": the Arrangers, the Syndication Agent, the
      Documentation Agent and the Issuing Lender, in their respective capacities
      as such.

            "Owner/Operators": individuals who are retained by the Parent
      Borrower or any of its Subsidiaries as independent contractors and who own
      and drive their own tractors on behalf of the Parent Borrower or any of
      its Subsidiaries.

            "Parent Borrower": as defined in the Preamble hereto.

            "Participants": as defined in subsection 11.6(b).

<PAGE>
                                                                              23

            "Participating Member State": each state so described in any EMU
      legislation.

            "PBGC": the Pension Benefit Guaranty Corporation established
      pursuant to Subtitle A of Title IV of ERISA (or any successor thereto).

            "Permitted Hedging Arrangement": any agreement or arrangement
      relating to currency, commodity or other hedging, to the extent and only
      to the extent that such agreement or arrangement is entered into,
      purchased or otherwise acquired in the ordinary course of business of the
      Parent Borrower or any of its Subsidiaries, and not for purposes of
      speculation, with (i) any Lender or any affiliate of any Lender or (ii)
      any other reputable financial institution that is rated at least A by S&P
      or A2 by Moody's.

            "Permitted Receivables Securitization": any transaction or series of
      related transactions providing for the securitization of any Receivables;
      provided that any such transaction shall be consummated (i) on terms that
      include terms substantially as described on Schedule VI or as the Required
      Lenders may otherwise consent, such consent not to be unreasonably
      withheld, and (ii) pursuant to documentation in form and substance
      reasonably satisfactory to the Administrative Agent, as evidenced by its
      written approval thereof.

            "Person": an individual, partnership, corporation, limited liability
      company, business trust, joint stock company, trust, unincorporated
      association, joint venture, Governmental Authority or other entity of
      whatever nature.

            "Plan": any employee benefit plan which is covered by ERISA and in
      respect of which the Parent Borrower or a Commonly Controlled Entity is an
      "employer" as defined in Section 3(5) of ERISA.

            "Preferred Stock Certificates of Designation": the Certificate of
      Designation relating to the Holding Preferred Stock, as the terms of such
      Certificate of Designation may be amended, supplemented or otherwise
      modified from time to time in accordance with Section 5.4.2 of the
      Guarantee and Collateral Agreement.

            "Prepayment Date": as defined in subsection 4.4(g).

            "Prepayment Option Notice": as defined in subsection 4.4(g).

            "Prime Rate": as defined in the definition of the term "ABR" in this
      subsection 1.1.

            "Pro Forma Date": as defined in subsection 5.1(c).

            "Pro Forma Financial Statements": as defined in subsection 5.1(c).

            "Properties": as defined in subsection 5.18(a).

<PAGE>
                                                                              24

            "Receivables": all Accounts and accounts receivable of the Parent
      Borrower or any of its Subsidiaries (including any thereof constituting or
      evidenced by chattel paper, instruments or general intangibles), and all
      proceeds thereof and rights (contractual and other) and collateral related
      thereto.

            "Receivables Subsidiary": any special purpose, bankruptcy-remote
      Subsidiary that purchases, on a revolving basis, Receivables generated by
      the Parent Borrower or any of its Subsidiaries.

            "Refunded Swing Line Loans": as defined in subsection 2.5(c).

            "Register": as defined in subsection 11.6(d).

            "Regulation D": Regulation D of the Board as in effect from time to
      time.

            "Regulation T": Regulation T of the Board as in effect from time to
      time.

            "Regulation U": Regulation U of the Board as in effect from time to
      time.

            "Regulation X": Regulation X of the Board as in effect from time to
      time.

            "Reimbursement Obligations": the obligation of the Borrowers to
      reimburse the Issuing Lender pursuant to subsection 3.5(a) for amounts
      drawn under Letters of Credit.

            "Reinvested Amount": with respect to any Asset Sale, that portion of
      the Net Cash Proceeds thereof as shall, according to a certificate of a
      Responsible Officer delivered to the Administrative Agent on the date of
      such Asset Sale, be reinvested in the business of the Parent Borrower and
      its Subsidiaries within 180 days of the receipt of such Net Cash Proceeds;
      provided that any Net Cash Proceeds not so reinvested by such 180th day
      shall be utilized on such day to prepay the Loans pursuant to subsection
      4.4(c).

            "Reorganization": with respect to any Multiemployer Plan, the
      condition that such plan is in reorganization within the meaning of
      Section 4241 of ERISA.

            "Reportable Event": any of the events set forth in Section 4043(c)
      of ERISA, other than those events as to which the thirty day notice period
      is waived under subsection .22, .23, .25, .27 or .28 of PBGC Reg. ss.4043
      or any successor regulation thereto.

            "Required Lenders": at any time, Lenders the Total Credit
      Percentages of which aggregate at least 51%.

            "Required Release Lenders": at any time, (i) Revolving Credit
      Lenders and Tranche A Term Loan Lenders the Total Credit Percentages
      (calculated for this purpose without reference to outstanding Tranche B
      Term Loans) of which aggregate at least 51%, (ii) Tranche B Term Loan
      Lenders the Tranche B Term Loan Percentages of which aggregate at least
      51% and (iii) Lenders the Total Credit Percentages of which aggregate at
      least 80%.

<PAGE>
                                                                              25

            "Requirement of Law": as to any Person, the certificate of
      incorporation and by-laws or other organizational or governing documents
      of such Person, and any law, statute, ordinance, code, decree, treaty,
      rule or regulation or determination of an arbitrator or a court or other
      Governmental Authority, in each case applicable to or binding upon such
      Person or any of its material property or to which such Person or any of
      its material property is subject; provided that the foregoing shall not
      apply to any non-binding recommendation of any Governmental Authority.

            "Responsible Officer": as to any Person, any of the following
      officers of such Person: (i) the chief executive officer or the president
      of such Person and, with respect to financial matters, the chief financial
      officer, the treasurer or the controller of such Person, (ii) any vice
      president of such Person or, with respect to financial matters, any
      assistant treasurer or assistant controller of such Person, who has been
      designated in writing to the Administrative Agent as a Responsible Officer
      by such chief executive officer or president of such Person or, with
      respect to financial matters, such chief financial officer of such Person,
      (iii) with respect to subsection 7.7 and without limiting the foregoing,
      the general counsel of such Person and (iv) with respect to ERISA related
      matters, the vice president of human resources of such Person.

            "Revolving Credit Commitment": as to any Revolving Credit Lender,
      its obligation to make Revolving Credit Loans to, and/or make or
      participate in Swing Line Loans made to, and/or issue or participate in
      Letters of Credit issued on behalf of, the Borrowers in an aggregate
      amount not to exceed at any one time outstanding the amount set forth
      opposite such Revolving Credit Lender's name in Schedule I under the
      heading "Revolving Credit Commitment" or, in the case of any Lender that
      is an Assignee, the amount of the assigning Lender's Revolving Credit
      Commitment assigned to such Assignee pursuant to subsection 11.6(c) (in
      each case as such amount may be adjusted from time to time as provided
      herein); collectively, as to all the Revolving Credit Lenders, the
      "Revolving Credit Commitments".

            "Revolving Credit Commitment Percentage": as to any Revolving Credit
      Lender, the percentage of the aggregate Revolving Credit Commitments
      constituted by its Revolving Credit Commitment (or, if the Revolving
      Credit Commitments have terminated or expired, the percentage which (i)
      the sum of (a) such Lender's then outstanding Revolving Credit Loans plus
      (b) such Lender's interests in the aggregate L/C Obligations and Swing
      Line Loans then outstanding then constitutes of (ii) the sum of (a) the
      aggregate Revolving Credit Loans of all the Revolving Credit Lenders then
      outstanding plus (b) the aggregate L/C Obligations and Swing Line Loans
      then outstanding).

            "Revolving Credit Commitment Period": the period from and including
      the Effective Date to but not including the Termination Date, or such
      earlier date as the Revolving Credit Commitments shall terminate as
      provided herein.

            "Revolving Credit Lender": any Lender having a Revolving Credit
      Commitment hereunder or having a Revolving Credit Loan outstanding
      hereunder.

<PAGE>
                                                                              26

            "Revolving Credit Loans": as defined in subsection 2.1.

            "Revolving Credit Note": as defined in subsection 2.2.

            "Sale and Leaseback Transaction": as defined in subsection 8.12.

            "Securities Act": the Securities Act of 1933, as amended.

            "Security Documents": the collective reference to the Mortgages, the
      Guarantee and Collateral Agreement and all other similar security
      documents hereafter delivered to the Administrative Agent on behalf of the
      Lenders (and the Administrative Agent will provide each Lender with a copy
      thereof) granting a Lien on any asset or assets of any Person to secure
      the obligations and liabilities of the Borrowers hereunder, under any
      Notes and/or under any of the other Loan Documents or to secure any
      guarantee of any such obligations and liabilities.

            "Seller": as defined in the Recitals hereto.

            "Senior Debt Ratio": at the last day of each fiscal quarter of the
      Parent Borrower, the ratio of (a) Consolidated Senior Debt at such date to
      (b) EBITDA for the period of four full fiscal quarters ending on such
      date.

            "Senior Subordinated Note Indenture": the Indenture, dated as of
      November 19, 1999, entered into by the Parent Borrower and State Street
      Bank and Trust Company, as trustee, in connection with the issuance of the
      Senior Subordinated Notes, together with all instruments and other
      agreements entered into by the Parent Borrower in connection therewith, as
      the same may be amended, supplemented or otherwise modified from time to
      time in accordance with subsection 8.17.

            "Senior Subordinated Notes": up to $150,000,000 aggregate principal
      amount of 13-3/8% Senior Subordinated Notes due 2009 of the Parent
      Borrower issued on the Effective Date pursuant to the Senior Subordinated
      Note Indenture.

            "Single Employer Plan": any Plan which is covered by Title IV of
      ERISA, but which is not a Multiemployer Plan.

            "Solvent" and "Solvency": with respect to any Person on a particular
      date, the condition that, on such date, (a) the fair value of the property
      of such Person is greater than the total amount of liabilities, including,
      without limitation, contingent liabilities, of such Person, (b) the
      present fair salable value of the assets of such Person is not less than
      the amount that will be required to pay the probable liability of such
      Person on its debts as they become absolute and matured, (c) such Person
      does not intend to, and does not believe that it will, incur debts or
      liabilities beyond such Person's ability to pay as such debts and
      liabilities mature, and (d) such Person is not engaged in business or a
      transaction, and is not about to engage in business or a transaction, for
      which such Person's property would constitute an unreasonably small amount
      of capital.

<PAGE>
                                                                              27

            "S&P": as defined in the definition of the term "Cash Equivalents"
      in this subsection 1.1.

            "Spot Rate of Exchange": with respect to any Designated Foreign
      Currency, at any date of determination thereof, the spot rate of exchange
      in London that appears on the display page applicable to such Designated
      Foreign Currency on the Dow Jones Market Service (or such other page as
      may replace such page for the purpose of displaying the spot rate of
      exchange in London); provided that if there shall at any time no longer
      exist such a page, the spot rate of exchange shall be determined by
      reference to another similar rate publishing service selected by the
      Administrative Agent and, if no such similar rate publishing service is
      available, by reference to the published rate of the Administrative Agent
      in effect at such date for similar commercial transactions.

            "Standby Letter of Credit": as defined in subsection 3.1(a).

            "Subordinated Debt": any unsecured Indebtedness of Holding or any of
      its Subsidiaries (a) having no scheduled principal payments (whether by
      way of mandatory sinking fund, mandatory redemption, mandatory prepayment
      or otherwise) prior to the Final Maturity Date and (b) the payment of the
      principal of and interest on which and other obligations of Holding and
      its Subsidiaries in respect thereof are subordinated, on terms and
      conditions reasonably satisfactory to the Administrative Agent (as
      evidenced by its prior written approval) in light of the terms and
      conditions customarily contained in indentures for publicly issued high
      yield subordinated debt securities, to the prior payment in full of the
      principal of and interest (including post-petition interest) on the Loans
      and all other payment obligations of the Loan Parties to the
      Administrative Agent, the Other Representatives and the Lenders hereunder
      and under the other Loan Documents.

            "Subordinated Subsidiary Guarantees": the subordinated guarantees
      delivered by the Subsidiaries of the Parent Borrower guaranteeing the
      obligations and liabilities of the Parent Borrower in respect of the
      Senior Subordinated Notes.

            "Subsidiary": as to any Person, a corporation, partnership, limited
      liability company or other entity of which shares of stock or other
      ownership interests having ordinary voting power (other than stock or such
      other ownership interests having such power only by reason of the
      happening of a contingency) to elect a majority of the board of directors
      or other managers of such corporation, partnership, limited liability
      company or other entity are at the time owned, or the management of which
      is otherwise controlled, directly or indirectly through one or more
      intermediaries, or both, by such Person. Unless otherwise qualified, all
      references to a "Subsidiary" or to "Subsidiaries" in this Agreement shall
      refer to a Subsidiary or Subsidiaries of Holding.

            "Swing Line Commitment": the Swing Line Lender's obligation to make
      Swing Line Loans pursuant to subsection 2.5.

            "Swing Line Lender": Chase, in its capacity as provider of the Swing
      Line Loans.

<PAGE>
                                                                              28

            "Swing Line Loan Participation Certificate": a certificate in
      substantially the form of Exhibit I.

            "Swing Line Loans": as defined in subsection 2.5(a).

            "Swing Line Note": as defined in subsection 2.5(b).

            "Syndication Agent": as defined in the Preamble hereto.

            "Syndication Letter Agreement": the letter agreement, dated as of
      November 19, 1999, between the Parent Borrower, the Administrative Agent,
      the Syndication Agent and the Arrangers relating to the syndication of the
      credit facilities provided for in this Agreement.

            "Telerate British Bankers Assoc. Interest Settlement Rates Page": as
      defined in the definition of the term "Eurocurrency Base Rate" in this
      subsection 1.1.

            "Termination Date": November 18, 2006.

            "Term Loan": a Tranche A Term Loan or a Tranche B Term Loan, as the
      context shall require; collectively, the "Term Loans".

            "Term Loan Lender": any Lender having a Term Loan outstanding
      hereunder.

            "Term Note": a Tranche A Term Note or a Tranche B Term Note, as the
      context shall require; collectively, the "Term Notes".

            "Three-Month Secondary CD Rate": as defined in the definition of the
      term "ABR" in this subsection 1.1.

            "Title Insurance Company": the title insurance company issuing the
      policies referred to in subsection 6.1(p).

            "Total Credit Percentage": as to any Lender at any time, the
      percentage of the aggregate Revolving Credit Commitments, outstanding
      Tranche A Term Loans and outstanding Tranche B Term Loans then constituted
      by its Revolving Credit Commitment, outstanding Tranche A Term Loan and
      outstanding Tranche B Term Loan (or, if the Revolving Credit Commitments
      have terminated or expired, the percentage of the aggregate outstanding
      Revolving Credit Loans, outstanding Term Loans and interests in the
      outstanding L/C Obligations and Swing Line Loans then constituted by its
      outstanding Revolving Credit Loans, outstanding Term Loans and interests
      in outstanding L/C Obligations and Swing Line Loans).

            "Tranche": the collective reference to Eurocurrency Loans, the then
      current Interest Periods with respect to all of which begin on the same
      date and end on the same later date (whether or not such Loans shall
      originally have been made on the same day).

<PAGE>
                                                                              29

            "Tranche A Term Loan": as defined in subsection 2.6.

            "Tranche A Term Loan Lender": any Term Loan Lender having a Tranche
      A Term Loan outstanding hereunder.

            "Tranche A Term Loan Percentage": as to any Term Loan Lender at any
      time, the percentage which (i) such Term Loan Lender's Tranche A Term Loan
      then outstanding constitutes of (ii) the aggregate Tranche A Term Loans of
      all the Term Loan Lenders then outstanding.

            "Tranche A Term Note": as defined in subsection 2.7(a).

            "Tranche B Prepayment Amount": as defined in subsection 4.4(g).

            "Tranche B Term Loan": as defined in subsection 2.6.

            "Tranche B Term Loan Lender": any Term Loan Lender having a Tranche
      B Term Loan outstanding hereunder.

            "Tranche B Term Loan Percentage": as to any Term Loan Lender at any
      time, the percentage which (i) such Term Loan Lender's Tranche B Term Loan
      then outstanding constitutes of (ii) the aggregate Tranche B Term Loans of
      all the Term Loan Lenders then outstanding.

            "Tranche B Term Note": as defined in subsection 2.8(a).

            "Transaction Documents": the collective reference to the Acquisition
      Agreement, the Preferred Stock Certificate of Designation and the
      Indentures.

            "Transferee": as defined in subsection 11.6(f).

            "TransGuard": TransGuard Insurance Company of America, an Illinois
      corporation and a Wholly Owned Subsidiary of the Parent Borrower.

            "Treaty": the Treaty establishing the European Economic Community,
      being the Treaty of Rome of March 25, 1957 as amended by the Single
      European Act 1986 and the Maastricht Treaty (which was signed on February
      7, 1992 and came into force on November 1, 1993) and as may, from time to
      time, be further amended, supplemented or otherwise modified.

            "Type": as to any Loan, its nature as an ABR Loan or a Eurocurrency
      Loan.

            "Underfunding": an excess of all accrued benefits under a Plan
      (based on those assumptions used to fund such Plan), determined as of the
      most recent annual valuation date, over the value of the assets of such
      Plan allocable to such accrued benefits.

<PAGE>
                                                                              30

            "Uniform Customs": the Uniform Customs and Practice for Documentary
      Credits (1993 Revision), International Chamber of Commerce Publication No.
      500, as the same may be amended from time to time.

            "U.S. Tax Compliance Certificate": as defined in subsection 4.11(b).

            "Voting Stock": as defined in the definition of the term "Change of
      Control" in this subsection 1.1.

            "Wholly Owned Subsidiary": as to any Person, any Subsidiary of such
      Person of which such Person owns, directly or indirectly through one or
      more Wholly Owned Subsidiaries, all of the Capital Stock of such
      Subsidiary other than directors qualifying shares or shares held by
      nominees.

            1.2 Other Definitional Provisions. (a) Unless otherwise specified
therein, all terms defined in this Agreement shall have the defined meanings
when used in any Notes, any other Loan Document or any certificate or other
document made or delivered pursuant hereto.

            (b) As used herein and in any Notes and any other Loan Document, and
any certificate or other document made or delivered pursuant hereto or thereto,
accounting terms relating to Holding and its Subsidiaries not defined in
subsection 1.1 and accounting terms partly defined in subsection 1.1, to the
extent not defined, shall have the respective meanings given to them under GAAP.

            (c) The words "hereof", "herein" and "hereunder" and words of
similar import when used in this Agreement shall refer to this Agreement as a
whole and not to any particular provision of this Agreement, and Section,
subsection, Schedule and Exhibit references are to this Agreement unless
otherwise specified. The phrase "the date hereof" and phrases of similar import
when used in this Agreement shall refer to November 19, 1999.

            (d) The meanings given to terms defined herein shall be equally
applicable to both the singular and plural forms of such terms.

            (e) In the event that the Parent Borrower changes its fiscal year
end to the last day of December, each of the fiscal quarter ending dates set
forth herein (including, without limitation, those set forth in Sections 2.7 and
2.8) occurring after such change shall be deemed to be the last day of March,
June, September or December, as applicable.

            SECTION 2. AMOUNT AND TERMS OF COMMITMENTS

            2.1 Revolving Credit Commitments. (a) Subject to the terms and
conditions hereof, each Revolving Credit Lender severally agrees to make
revolving credit loans ("Revolving Credit Loans") to each of the Borrowers from
time to time during the Revolving Credit Commitment Period in an aggregate
principal amount at any one time outstanding which, when added to such Revolving
Credit

<PAGE>
                                                                              31

Lender's Revolving Credit Commitment Percentage of the sum of the then
outstanding L/C Obligations and the then outstanding Swing Line Loans, does not
exceed the amount of such Revolving Credit Lender's Revolving Credit Commitment
then in effect; provided that no Revolving Credit Lender shall make any
Revolving Credit Loan in any Designated Foreign Currency if, after giving effect
to the making of such Revolving Credit Loan, the sum of the Dollar Equivalent of
the then outstanding Revolving Credit Loans in any Designated Foreign Currency
and the then outstanding L/C Obligations in respect of any Foreign Backstop
Letters of Credit would exceed an amount to be agreed upon by the Parent
Borrower, the Administrative Agent and the Other Representatives (it being
understood and agreed that the Administrative Agent shall calculate the Dollar
Equivalent of the then outstanding Revolving Credit Loans in any Designated
Foreign Currency and, to the extent applicable, of the then outstanding L/C
Obligations in respect of any Foreign Backstop Letters of Credit on the date on
which the Parent Borrower has given the Administrative Agent a notice of
borrowing with respect to any Revolving Credit Loan for purposes of determining
compliance with this subsection). During the Revolving Credit Commitment Period
each of the Borrowers may use the Revolving Credit Commitments by borrowing,
prepaying the Revolving Credit Loans in whole or in part, and reborrowing, all
in accordance with the terms and conditions hereof. In no event shall the
Revolving Credit Commitments of all Revolving Credit Lenders exceed
$150,000,000.

            (b) The Revolving Credit Loans may be made in Dollars or any
Designated Foreign Currency and may from time to time be (i) Eurocurrency Loans,
(ii) ABR Loans or (iii) a combination thereof, as determined by the Parent
Borrower and notified to the Administrative Agent in accordance with subsections
2.3 and 4.2, provided that no Revolving Credit Loan shall be made as a
Eurocurrency Loan after the day that is one month prior to the Termination Date.

            2.2 Revolving Credit Notes. Each of the Borrowers agrees that, upon
the request to the Administrative Agent by any Revolving Credit Lender made on
or prior to the Effective Date or in connection with any assignment of its Loan
or Revolving Credit Commitment, in order to evidence such Revolving Credit
Lender's Revolving Credit Loans such Borrower will execute and deliver to such
Revolving Credit Lender a promissory note substantially in the form of Exhibit
A-1, with appropriate insertions as to payee, date and principal amount (each,
as amended, supplemented, replaced or otherwise modified from time to time, a
"Revolving Credit Note"), payable to the order of such Revolving Credit Lender
and in a principal amount equal to the lesser of (a) the amount set forth
opposite such Revolving Credit Lender's name in Schedule I under the heading
"Revolving Credit Commitment" and (b) the aggregate unpaid principal amount of
all Revolving Credit Loans made by such Revolving Credit Lender to such
Borrower. Each Revolving Credit Note shall (x) be dated the Effective Date, (y)
be stated to mature on the Termination Date and (z) provide for the payment of
interest in accordance with subsection 4.1.

            2.3 Procedure for Revolving Credit Borrowing. Each of the Borrowers
may borrow under the Revolving Credit Commitments during the Revolving Credit
Commitment Period on any Business Day, provided that the Parent Borrower (on
behalf of itself or such other Borrower, as the case may be) shall give the
Administrative Agent irrevocable notice (which notice must be received by the
Administrative Agent prior to (a) 12:30 P.M., New York City time, at least three
Business Days prior to the requested Borrowing Date, if all or any part of the
requested Revolving Credit Loans are to be initially Eurocurrency Loans made in
Dollars, (b) 11:00 A.M., London time, at least three Business

<PAGE>
                                                                              32

Days prior to the requested Borrowing Date, if all or any part of the requested
Revolving Credit Loans are to be initially Eurocurrency Loans made in any
Designated Foreign Currency, or (c) 12:30 P.M., New York City time, at least one
Business Day prior to the requested Borrowing Date, otherwise), specifying (i)
the identity of the Borrower, (ii) the amount to be borrowed, (iii) the
requested Borrowing Date, (iv) whether the borrowing is to be of Eurocurrency
Loans, ABR Loans or a combination thereof and (v) if the borrowing is to be
entirely or partly of Eurocurrency Loans, the respective amounts of each such
Type of Loan, the respective lengths of the initial Interest Periods therefor
and, if the Eurocurrency Loans in respect of such borrowing are to be made
entirely or partly in any Designated Foreign Currency, the Designated Foreign
Currency thereof. Each borrowing under the Revolving Credit Commitments shall be
in an amount equal to (x) in the case of ABR Loans, except any ABR Loan to be
used solely to pay a like amount of outstanding Reimbursement Obligations or
Swing Line Loans, $5,000,000 or a whole multiple of $1,000,000 in excess thereof
(or, if the then Available Revolving Credit Commitments are (A) less than
$5,000,000, $1,000,000 or a whole multiple thereof or (B) less than $1,000,000,
such lesser amount) and (y) in the case of Eurocurrency Loans (or, in the case
of Eurocurrency Loans to be made in any Designated Foreign Currency, the Dollar
Equivalent of the principal amount thereof shall be in an amount equal to),
$5,000,000 or a whole multiple of $1,000,000 in excess thereof. Upon receipt of
any such notice from the Parent Borrower, the Administrative Agent shall
promptly notify each Revolving Credit Lender thereof. Notwithstanding the
foregoing, the initial borrowing of Revolving Credit Loans on the Effective Date
shall be in a maximum aggregate principal amount of $65,000,000. Subject to the
satisfaction of the conditions precedent specified in subsection 6.2 (and
subsection 6.3 in the case of a Foreign Subsidiary Borrower), each Revolving
Credit Lender will make the amount of its pro rata share of each borrowing of
Revolving Credit Loans available to the Administrative Agent for the account of
the Borrower identified in such notice at the office of the Administrative Agent
specified in subsection 11.2 prior to 12:00 Noon (10:00 A.M. in the case of the
initial borrowing hereunder), New York City time, or at such other office of the
Administrative Agent or at such other time as to which the Administrative Agent
shall notify such Revolving Credit Lender and the Parent Borrower reasonably in
advance of the Borrowing Date with respect thereto, on the Borrowing Date
requested by the Parent Borrower in Dollars or the applicable Designated Foreign
Currency and in funds immediately available to the Administrative Agent. Such
borrowing will then be made available to the Borrower identified in such notice
by the Administrative Agent crediting the account of the such Borrower on the
books of such office with the aggregate of the amounts made available to the
Administrative Agent by the Revolving Credit Lenders and in like funds as
received by the Administrative Agent.

            2.4 Termination or Reduction of Revolving Credit Commitments. The
Parent Borrower shall have the right, upon not less than three Business Days'
notice to the Administrative Agent (which will promptly notify the Lenders
thereof), to terminate the Revolving Credit Commitments or, from time to time,
to reduce the amount of the Revolving Credit Commitments; provided that no such
termination or reduction shall be permitted if, after giving effect thereto and
to any prepayments of the Revolving Credit Loans and Swing Line Loans made on
the effective date thereof, the aggregate principal amount of the Revolving
Credit Loans then outstanding (including, without limitation, in the case of
Revolving Credit Loans then outstanding in any Designated Foreign Currency, the
Dollar Equivalent of the aggregate principal amount thereof), when added to the
sum of the then outstanding L/C Obligations and the then outstanding Swing Line
Loans, would exceed the Revolving Credit Commitments then in

<PAGE>
                                                                              33

effect. Any such reduction shall be in an amount equal to $1,000,000 or a whole
multiple of $1,000,000 in excess thereof and shall reduce permanently the
Revolving Credit Commitments then in effect.

            2.5 Swing Line Commitments. (a) Subject to the terms and conditions
hereof, the Swing Line Lender agrees to make swing line loans (individually, a
"Swing Line Loan"; collectively, the "Swing Line Loans") to each of the
Borrowers from time to time during the Revolving Credit Commitment Period in an
aggregate principal amount as to all of the Borrowers at any one time
outstanding not to exceed $10,000,000, provided that at no time may the sum of
the then outstanding Swing Line Loans, Revolving Credit Loans (including,
without limitation, in the case of Revolving Credit Loans then outstanding in
any Designated Foreign Currency, the Dollar Equivalent of the aggregate
principal amount thereof) and L/C Obligations exceed the Revolving Credit
Commitments then in effect. Amounts borrowed by any of the Borrowers under this
subsection 2.5 may be repaid and, through but excluding the Termination Date,
reborrowed. All Swing Line Loans shall be made as ABR Loans and shall not be
entitled to be converted into Eurocurrency Loans. The Parent Borrower (on behalf
of itself or such other Borrower, as the case may be) shall give the Swing Line
Lender irrevocable notice (which notice must be received by the Swing Line
Lender prior to 12:00 Noon, New York City time) on the requested Borrowing Date
specifying (i) the identity of the Borrower and (ii) the amount of the requested
Swing Line Loan which shall be in a minimum amount of $500,000 or whole
multiples of $100,000 in excess thereof. The proceeds of the Swing Line Loan
will be made available by the Swing Line Lender to the Borrower identified in
such notice at the office of the Swing Line Lender by crediting the account of
such Borrower at such office with such proceeds in Dollars.

            (b) Each of the Borrowers agrees that, upon the request to the
Administrative Agent by the Swing Line Lender, in order to evidence the Swing
Line Loans such Borrower will execute and deliver to the Swing Line Lender a
promissory note substantially in the form of Exhibit A-4, with appropriate
insertions (as the same may be amended, supplemented, replaced or otherwise
modified from time to time, the "Swing Line Note"), payable to the order of the
Swing Line Lender and representing the obligation of such Borrower to pay the
amount of the Swing Line Commitment or, if less, the unpaid principal amount of
the Swing Line Loans made to such Borrower, with interest thereon as prescribed
in subsection 4.1. The Swing Line Note shall (a) be dated the Effective Date,
(b) be stated to mature on the Termination Date and (c) provide for the payment
of interest in accordance with subsection 4.1.

            (c) The Swing Line Lender, at any time in its sole and absolute
discretion may, and, at any time as there shall be a Swing Line Loan outstanding
for more than seven Business Days, the Swing Line Lender shall, on behalf of the
Borrower to which such Swing Line Loan shall have been made (which hereby
irrevocably directs and authorizes the Swing Line Lender to act on its behalf),
request each Revolving Credit Lender, including the Swing Line Lender, to make a
Revolving Credit Loan as an ABR Loan in an amount equal to such Revolving Credit
Lender's Revolving Credit Commitment Percentage of the principal amount of the
Swing Line Loans (the "Refunded Swing Line Loans") outstanding on the date such
notice is given; provided that the provisions of this subsection shall not
affect the obligations of any of the Borrowers to prepay Swing Line Loans in
accordance with the provisions of subsection 4.4(e). Unless the Revolving Credit
Commitments shall have expired or terminated (in which event the procedures of
paragraph (d) of this subsection 2.5 shall apply), each Revolving Credit Lender
will make the proceeds of its Revolving Credit Loan available to the

<PAGE>
                                                                              34

Administrative Agent for the account of the Swing Line Lender at the office of
the Administrative Agent prior to 12:00 Noon, New York City time, in funds
immediately available on the Business Day next succeeding the date such notice
is given. The proceeds of such Revolving Credit Loans shall be immediately
applied to repay the Refunded Swing Line Loans.

            (d) If the Revolving Credit Commitments shall expire or terminate at
any time while Swing Line Loans are outstanding, each Revolving Credit Lender
shall, at the option of the Swing Line Lender exercised reasonably, either (i)
notwithstanding the expiration or termination of the Revolving Credit
Commitments, make a Revolving Credit Loan as an ABR Loan or (ii) purchase an
undivided participating interest in such Swing Line Loans, in either case in an
amount equal to such Revolving Credit Lender's Revolving Credit Commitment
Percentage determined on the date of, and immediately prior to, expiration or
termination of the Revolving Credit Commitments of the aggregate principal
amount of such Swing Line Loans. Each Revolving Credit Lender will make the
proceeds of any Revolving Credit Loan made pursuant to the immediately preceding
sentence available to the Administrative Agent for the account of the Swing Line
Lender at the office of the Administrative Agent prior to 12:00 Noon, New York
City time, in funds immediately available on the Business Day next succeeding
the date on which the Revolving Credit Commitments expire or terminate. The
proceeds of such Revolving Credit Loans shall be immediately applied to repay
the Swing Line Loans outstanding on the date of termination or expiration of the
Revolving Credit Commitments. In the event that the Revolving Credit Lenders
purchase undivided participating interests pursuant to the first sentence of
this paragraph (d), each Revolving Credit Lender shall immediately transfer to
the Swing Line Lender, in immediately available funds, the amount of its
participation and upon receipt thereof the Swing Line Lender will deliver to
such Revolving Credit Lender a Swing Line Loan Participation Certificate dated
the date of receipt of such funds and in such amount.

            (e) Whenever, at any time after the Swing Line Lender has received
from any Revolving Credit Lender such Revolving Credit Lender's participating
interest in a Swing Line Loan, the Swing Line Lender receives any payment on
account thereof, the Swing Line Lender will distribute to such Revolving Credit
Lender its participating interest in such amount (appropriately adjusted, in the
case of interest payments, to reflect the period of time during which such
Revolving Credit Lender's participating interest was outstanding and funded);
provided, however, that in the event that such payment received by the Swing
Line Lender is required to be returned, such Revolving Credit Lender will return
to the Swing Line Lender any portion thereof previously distributed by the Swing
Line Lender to it.

            2.6 Term Loans. Subject to the terms and conditions hereof, each
Term Loan Lender severally agrees (a) to make a term loan (a "Tranche A Term
Loan") to the Parent Borrower on the Effective Date in an aggregate principal
amount set forth opposite such Term Loan Lender's name in Schedule I under the
heading "Tranche A Term Loan Commitment" and (b) to make a term loan (a "Tranche
B Term Loan") to the Parent Borrower on the Effective Date in an aggregate
principal amount set forth opposite such Term Loan Lender's name in Schedule I
under the heading "Tranche B Term Loan Commitment". The Term Loans may be made
in Dollars and may from time to time be (a) Eurocurrency Loans, (b) ABR Loans or
(c) a combination thereof, as determined by the Parent Borrower and notified to
the Administrative Agent in accordance with subsections 2.9 and 4.2. The
Borrower may, with the prior written consent of the relevant Tranche A Term Loan
Lender, convert all

<PAGE>
                                                                              35

or any portion of the Tranche A Term Loans of such Lender into Tranche A Term
Loans denominated in a Designated Foreign Currency, with such conversion to be
made at the Spot Rate of Exchange on the date that is two Business Days prior to
the date of such conversion.

            2.7 Tranche A Term Notes. (a) The Parent Borrower agrees that, upon
the request to the Administrative Agent by any Tranche A Term Loan Lender made
on or prior to the Effective Date or in connection with any assignment of its
Loan, in order to evidence such Term Loan Lender's Tranche A Term Loan the
Parent Borrower will execute and deliver to such Term Loan Lender a promissory
note substantially in the form of Exhibit A-2 (each, as amended, supplemented,
replaced or otherwise modified from time to time, a "Tranche A Term Note"), with
appropriate insertions therein as to payee, date and principal amount, payable
to the order of such Term Loan Lender and in a principal amount equal to the
lesser of (a) the amount set forth opposite such Term Loan Lender's name on
Schedule I under the heading "Tranche A Term Loan Commitment" and (b) the unpaid
principal amount of the Tranche A Term Loan made by such Term Loan Lender. Each
Tranche A Term Note shall (i) be dated the Effective Date, (ii) be payable as
provided in subsection 2.7(b) and (iii) provide for the payment of interest in
accordance with subsection 4.1.

            (b) The aggregate principal amount of all of the Tranche A Term
Loans to be made on the Effective Date by the Term Loan Lenders is $150,000,000.
The aggregate Tranche A Term Loans of all the Term Loan Lenders (together with
all accrued interest thereon) shall be payable in 28 consecutive installments on
the dates and in a principal amount equal to (i) the percentage set forth below
opposite such date multiplied by (ii) the aggregate principal amount of all of
the Tranche A Term Loans made on the Effective Date by the Term Loan Lenders
(using, for any Tranche A Term Loans converted to a Designated Foreign Currency,
the Spot Rate of Exchange used in such conversion):

                  Dates                         Percentage
                  -----                         ----------

            March 24, 2000                      0.825%
            June 23, 2000                       0.825%
            September 22, 2000                  0.825%
            December 29, 2000                   0.825%
            March 30, 2001                      1.675%
            June 29, 2001                       1.675%
            September 28, 2001                  1.675%
            December 28, 2001                   1.675%
            March 29, 2002                      2.500%
            June 28, 2002                       2.500%
            September 27, 2002                  2.500%
            December 27, 2002                   2.500%
            March 28, 2003                      3.325%
            June 27, 2003                       3.325%
            September 26, 2003                  3.325%
            December 26, 2003                   3.325%
            March 26, 2004                      3.325%
            June 25, 2004                       3.325%

<PAGE>
                                                                              36

            September 24, 2004                  3.325%
            December 24, 2004                   3.325%
            March 25, 2005                      5.825%
            June 24, 2005                       5.825%
            September 23, 2005                  5.825%
            December 30, 2005                   5.825%
            March 31, 2006                      7.525%
            June 30, 2006                       7.525%
            September 29, 2006                  7.525%
            Termination Date                    7.525%

provided that in the event that the Parent Borrower changes its fiscal year end
to the last day of December, each of the foregoing amortization dates (other
than the Termination Date) occurring after such change shall be deemed to be the
last day of March, June, September or December, as applicable (e.g., the
amortization payment scheduled for March 30, 2001 shall be due on March 31,
2001, and the amortization payment scheduled for June 29, 2001 shall be due on
June 30, 2001).

            2.8 Tranche B Term Notes. (a) The Parent Borrower agrees that, upon
the request to the Administrative Agent by any Tranche B Term Loan Lender made
on or prior to the Effective Date or in connection with any assignment of its
Loan, in order to evidence such Term Loan Lender's Tranche B Term Loan the
Parent Borrower will execute and deliver to such Term Loan Lender a promissory
note substantially in the form of Exhibit A-3 (each, as amended, supplemented,
replaced or otherwise modified from time to time, a "Tranche B Term Note"), with
appropriate insertions therein as to payee, date and principal amount, payable
to the order of such Term Loan Lender and in a principal amount equal to the
lesser of (a) the amount set forth opposite such Term Loan Lender's name on
Schedule I under the heading "Tranche B Term Loan Commitment" and (b) the unpaid
principal amount of the Tranche B Term Loan made by such Term Loan Lender. Each
Tranche B Term Note shall (i) be dated the Effective Date, (ii) be payable as
provided in subsection 2.8(b) and (iii) provide for the payment of interest in
accordance with subsection 4.1.

            (b) The aggregate Tranche B Term Loans of all the Term Loan Lenders
shall be payable in 32 consecutive installments on the dates and in a principal
amount equal to the amount set forth below (together with all accrued interest
thereon) opposite the applicable installment date (or, if less, the aggregate
amount of the Tranche B Term Loans then outstanding):

                  Dates                         Amount
                  -----                         ------

            March 24, 2000                      $   437,500
            June 23, 2000                       $   437,500
            September 22, 2000                  $   437,500
            December 29, 2000                   $   437,500
            March 30, 2001                      $   437,500
            June 29, 2001                       $   437,500
            September 28, 2001                  $   437,500
            December 28, 2001                   $   437,500

<PAGE>
                                                                              37

            March 29, 2002                      $   437,500
            June 28, 2002                       $   437,500
            September 27, 2002                  $   437,500
            December 27, 2002                   $   437,500
            March 28, 2003                      $   437,500
            June 27, 2003                       $   437,500
            September 26, 2003                  $   437,500
            December 26, 2003                   $   437,500
            March 26, 2004                      $   437,500
            June 25, 2004                       $   437,500
            September 24, 2004                  $   437,500
            December 24, 2004                   $   437,500
            March 25, 2005                      $   437,500
            June 24, 2005                       $   437,500
            September 23, 2005                  $   437,500
            December 30, 2005                   $   437,500
            March 31, 2006                      $16,125,000
            June 30, 2006                       $16,125,000
            September 29, 2006                  $16,125,000
            December 29, 2006                   $16,125,000
            March 30, 2007                      $25,000,000
            June 29, 2007                       $25,000,000
            September 28, 2007                  $25,000,000
            Final Maturity Date                 $25,000,000

provided that in the event that the Parent Borrower changes its fiscal year end
to the last day of December, each of the foregoing amortization dates (other
than the Final Maturity Date) occurring after such change shall be deemed to be
the last day of March, June, September or December, as applicable (e.g., the
amortization payment scheduled for March 30, 2001 shall be due on March 31,
2001, and the amortization payment scheduled for June 29, 2001 shall be due on
June 30, 2001).

            2.9 Procedure for Term Loan Borrowing. The Parent Borrower shall
give the Administrative Agent irrevocable notice (which notice must be received
by the Administrative Agent prior to (a) 12:30 P.M., New York City time, at
least three Business Days prior to the Effective Date, if all or any part of the
Term Loans are to be initially Eurocurrency Loans made in Dollars, (b) 11:00
A.M., London time, at least three Business Days prior to the Effective Date, if
any part of the Tranche A Term Loans are to be initially Eurocurrency Loans made
in any Designated Foreign Currency or (c) 12:30 P.M., New York City time, at
least one Business Day prior to the Effective Date, otherwise) requesting that
the Term Loan Lenders make the Term Loans on the Effective Date and specifying
(i) the amount to be borrowed, (ii) whether the Term Loans are to be initially
Eurocurrency Loans, ABR Loans or a combination thereof, and (iii) if the Term
Loans are to be entirely or partly Eurocurrency Loans, the respective amounts of
each such Type of Loan and the respective lengths of the initial Interest
Periods therefor and, if the Eurocurrency Loans in respect of any part of the
borrowing of Tranche A Term Loans are to be made entirely or partly in any
Designated Foreign Currency, the Designated Foreign Currency thereof. Upon
receipt of such notice the Administrative Agent shall

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                                                                              38

promptly notify each Term Loan Lender thereof. Each Term Loan Lender will make
the amount of its pro rata share of the Term Loans available to the
Administrative Agent for the account of the Parent Borrower at the office of the
Administrative Agent specified in subsection 11.2 prior to 10:00 A.M., New York
City time, or at such other office of the Administrative Agent or at such other
time as to which the Administrative Agent shall notify such Term Loan Lender and
the Parent Borrower reasonably in advance of the Effective Date with respect
thereto, on the Effective Date in Dollars or the applicable Designated Foreign
Currency and in funds immediately available to the Administrative Agent. The
Administrative Agent shall on such date credit the account of the Parent
Borrower on the books of such office of the Administrative Agent with the
aggregate of the amounts made available to the Administrative Agent by the Term
Loan Lenders and in like funds as received by the Administrative Agent.

            2.10 Repayment of Loans. (a) Each of the Borrowers hereby
unconditionally promises to pay to the Administrative Agent for the account of
(i) each Revolving Credit Lender, the then unpaid principal amount of each
Revolving Credit Loan of such Revolving Credit Lender made to such Borrower, on
the Termination Date (or such earlier date on which the Revolving Credit Loans
become due and payable pursuant to Section 9); (ii) the Swing Line Lender, the
then unpaid principal amount of the Swing Line Loans made to such Borrower, on
the Termination Date (or such earlier date on which the Swing Line Loans become
due and payable pursuant to Section 9); (iii) in the case of the Parent Borrower
only, each Tranche A Term Loan Lender, the amounts specified in subsection
2.7(b) (or, if less, the aggregate amount of the Tranche A Term Loans then
outstanding), on the dates specified in subsection 2.7(b) (or such earlier date
on which the Tranche A Term Loans become due and payable pursuant to Section 9);
and (iv) in the case of the Parent Borrower only, each Tranche B Term Loan
Lender, the amounts specified in subsection 2.8(b) (or, if less, the aggregate
amount of the Tranche B Term Loans then outstanding), on the dates specified in
subsection 2.8(b) (or such earlier date on which the Tranche B Term Loans become
due and payable pursuant to Section 9). Each of the Borrowers hereby further
agrees to pay interest on the unpaid principal amount of the Loans made to such
Borrower from time to time outstanding from the date hereof until payment in
full thereof at the rates per annum, and on the dates, set forth in subsection
4.1.

            (b) Each Lender (including the Swing Line Lender) shall maintain in
accordance with its usual practice an account or accounts evidencing
indebtedness of each of the Borrowers to such Lender resulting from each Loan of
such Lender from time to time, including the amounts of principal and interest
payable and paid to such Lender from time to time under this Agreement.

            (c) The Administrative Agent shall maintain the Register pursuant to
subsection 11.6(d), and a subaccount therein for each Lender, in which shall be
recorded (i) the amount of each Loan made hereunder, the Type thereof and each
Interest Period, if any, applicable thereto, (ii) the amount of any principal or
interest due and payable or to become due and payable from each of the Borrowers
to each Lender hereunder and (iii) both the amount of any sum received by the
Administrative Agent hereunder from each of the Borrowers and each Lender's
share thereof.

            (d) The entries made in the Register and the accounts of each Lender
maintained pursuant to subsection 2.10(b) shall, to the extent permitted by
applicable law, be prima facie evidence of the existence and amounts of the
obligations of each of the Borrowers therein recorded; provided,

<PAGE>
                                                                              39

however, that the failure of any Lender or the Administrative Agent to maintain
the Register or any such account, or any error therein, shall not in any manner
affect the obligation of any Borrower to repay (with applicable interest) the
Loans made to such Borrower by such Lender in accordance with the terms of this
Agreement.

                          SECTION 3. LETTERS OF CREDIT

            3.1 L/C Commitment. (a) Subject to the terms and conditions hereof,
the Issuing Lender, in reliance on the agreements of the other Revolving Credit
Lenders set forth in subsection 3.4(a), agrees to continue outstanding under
this Agreement the Existing Letters of Credit and issue letters of credit (the
letters of credit issued on and after the Effective Date pursuant to this
Section 3, together with the Existing Letters of Credit, collectively, the
"Letters of Credit") for the account of each of the Borrowers on any Business
Day during the Revolving Credit Commitment Period in such form as may be
approved from time to time by the Issuing Lender, provided that the Issuing
Lender shall not issue any Letter of Credit if, after giving effect to such
issuance, (i) the sum of the Dollar Equivalent of the then outstanding Revolving
Credit Loans in any Designated Foreign Currency and the then outstanding L/C
Obligations in respect of any Foreign Backstop Letters of Credit would exceed
$50,000,000 (it being understood and agreed that the Administrative Agent shall
calculate the Dollar Equivalent of the then outstanding Revolving Credit Loans
in any Designated Foreign Currency and, to the extent applicable, of the then
outstanding L/C Obligations in respect of any Foreign Backstop Letters of Credit
on the date on which the Parent Borrower has requested that the Issuing Lender
issue a Letter of Credit for purposes of determining compliance with this clause
(i)), (ii) the L/C Obligations in respect of Letters of Credit other than
Foreign Backstop Letters of Credit would exceed $50,000,000 or (iii) the
Aggregate Outstanding Revolving Credit of all the Revolving Credit Lenders would
exceed the Revolving Credit Commitments of all the Revolving Credit Lenders then
in effect. Each Letter of Credit shall (A) be denominated in Dollars or, in the
case of Foreign Backstop Letters of Credit, in Dollars or any Designated Foreign
Currency and shall be either (x) a standby letter of credit issued to support
obligations of the Parent Borrower or any of its Subsidiaries, contingent or
otherwise, which finance the working capital and business needs of the Parent
Borrower and its Subsidiaries incurred in the ordinary course of business (a
"Standby Letter of Credit"), or (y) a commercial letter of credit in respect of
the purchase of goods or services by the Parent Borrower or any of its
Subsidiaries in the ordinary course of business (a "Commercial Letter of
Credit"), (B) expire no later than the Termination Date, and (C) expire no later
than 365 days after its date of issuance in the case of Standby Letters of
Credit, and 180 days after its date of issuance in the case of Commercial
Letters of Credit.

            (b) Each Letter of Credit shall be subject to the Uniform Customs
and, to the extent not inconsistent therewith, the laws of the State of New
York.

            (c) The Issuing Lender shall not at any time be obligated to issue
any Letter of Credit hereunder if such issuance would conflict with, or cause
the Issuing Lender or any L/C Participant to exceed any limits imposed by, any
applicable Requirement of Law.

            3.2 Procedure for Issuance of Letters of Credit. The Parent Borrower
may from time to time request that the Issuing Lender issue a Letter of Credit
by delivering to the Issuing Lender, at its

<PAGE>
                                                                              40

address for notices specified herein, an Application therefor, completed to the
reasonable satisfaction of the Issuing Lender, and such other certificates,
documents and other papers and information as the Issuing Lender may reasonably
request. Upon receipt of any Application, the Issuing Lender will process such
Application and the certificates, documents and other papers and information
delivered to it in connection therewith in accordance with its customary
procedures and shall promptly issue the Letter of Credit requested thereby (but
in no event shall the Issuing Lender be required to issue any Letter of Credit
earlier than three Business Days after its receipt of the Application therefor
and all such other certificates, documents and other papers and information
relating thereto) by issuing the original of such Letter of Credit to the
beneficiary thereof or as otherwise may be agreed by the Issuing Lender and the
Parent Borrower. The Issuing Lender shall furnish a copy of such Letter of
Credit to the Parent Borrower promptly following the issuance thereof.

            3.3 Fees, Commissions and Other Charges. (a) Each Borrower shall pay
to the Administrative Agent, for the account of the Issuing Lender and the L/C
Participants, a letter of credit commission with respect to each Letter of
Credit issued for the account of such Borrower, computed for the period from and
including the date of issuance of such Letter of Credit to the expiration date
of such Letter of Credit, computed at the rate per annum equal to the Applicable
Margin in effect for Revolving Credit Loans that are Eurocurrency Loans,
calculated on the basis of a 365- (or 366-, as the case may be) day year, of the
aggregate amount available to be drawn under such Letter of Credit, payable
(without duplication) quarterly in arrears on each L/C Fee Payment Date to occur
while such Letter of Credit remains outstanding and on the expiration date of
such Letter of Credit and the Termination Date. Such commission shall be payable
to the Administrative Agent for the account of the Revolving Credit Lenders to
be shared ratably among them in accordance with their respective Revolving
Credit Commitment Percentages. Each Borrower shall also pay to the
Administrative Agent, for the account of the Issuing Lender, a fee equal to 1/4
of 1% per annum of the aggregate amount available to be drawn under each Letter
of Credit issued for the account of such Borrower, payable quarterly in arrears
on each L/C Fee Payment Date to occur while such Letter of Credit remains
outstanding and on the expiration date of such Letter of Credit. Such
commissions shall be nonrefundable. Such fees and commissions shall be payable
in Dollars, notwithstanding that a Letter of Credit may be denominated in any
Designated Foreign Currency. In respect of a Letter of Credit denominated in any
Designated Foreign Currency, such fees and commissions shall be converted into
Dollars at the Spot Rate of Exchange on the date on which they are paid (or, if
such date is not a Business Day, at the Spot Rate of Exchange on the Business
Day next preceding such date).

            (b) In addition to the foregoing fees and commissions, each Borrower
shall pay or reimburse the Issuing Lender for such normal and customary costs
and expenses as are incurred or charged by the Issuing Lender in issuing,
effecting payment under, amending or otherwise administering any Letter of
Credit issued for the account of such Borrower.

            (c) The Administrative Agent shall, promptly following its receipt
thereof, distribute to the Issuing Lender and the L/C Participants all fees and
commissions received by the Administrative Agent for their respective accounts
pursuant to this subsection. The Administrative Agent shall notify the Lenders
at least monthly of the aggregate outstanding Letters of Credit.

<PAGE>
                                                                              41

            3.4 L/C Participations. (a) The Issuing Lender irrevocably agrees to
grant and hereby grants to each L/C Participant, and, to induce the Issuing
Lender to issue Letters of Credit hereunder, each L/C Participant irrevocably
agrees to accept and purchase and hereby accepts and purchases from the Issuing
Lender, on the terms and conditions hereinafter stated, for such L/C
Participant's own account and risk an undivided interest equal to such L/C
Participant's Revolving Credit Commitment Percentage (determined on the date of
issuance of the relevant Letter of Credit) in the Issuing Lender's obligations
and rights under each Letter of Credit issued or continued hereunder and the
amount of each draft paid by the Issuing Lender thereunder. Each L/C Participant
unconditionally and irrevocably agrees with the Issuing Lender that, if a draft
is paid under any Letter of Credit for which the Issuing Lender is not
reimbursed in full by the Borrower in respect of such Letter of Credit in
accordance with subsection 3.5(a), such L/C Participant shall pay to the Issuing
Lender upon demand (which demand, in the case of any demand made in respect of
any draft under a Letter of Credit denominated in any Designated Foreign
Currency, shall not be made prior to the date that the amount of such draft
shall be converted into Dollars in accordance with subsection 3.5(a)) at the
Issuing Lender's address for notices specified herein an amount equal to such
L/C Participant's Revolving Credit Commitment Percentage of the amount of such
draft, or any part thereof, which is not so reimbursed; provided that nothing in
this paragraph shall relieve the Issuing Lender of any liability resulting from
the gross negligence or willful misconduct of the Issuing Lender, or otherwise
affect any defense or other right that any L/C Participant may have as a result
of such gross negligence or willful misconduct.

            (b) If any amount required to be paid by any L/C Participant to the
Issuing Lender pursuant to subsection 3.4(a) in respect of any unreimbursed
portion of any payment made by the Issuing Lender under any Letter of Credit is
paid to the Issuing Lender within three Business Days after the date such
payment is due, such L/C Participant shall pay to the Issuing Lender on demand
an amount equal to the product of (i) such amount, times (ii) the daily average
Federal Funds Effective Rate during the period from and including the date such
payment is required to the date on which such payment is immediately available
to the Issuing Lender, times (iii) a fraction the numerator of which is the
number of days that elapse during such period and the denominator of which is
360. If any such amount required to be paid by any L/C Participant pursuant to
subsection 3.4(a) is not in fact made available to the Issuing Lender by such
L/C Participant within three Business Days after the date such payment is due,
the Issuing Lender shall be entitled to recover from such L/C Participant, on
demand, such amount with interest thereon calculated from such due date at the
rate per annum applicable to ABR Loans that are Revolving Credit Loans. A
certificate of the Issuing Lender submitted to any L/C Participant with respect
to any amounts owing under this subsection shall be conclusive in the absence of
manifest error.

            (c) Whenever, at any time after the Issuing Lender has made payment
under any Letter of Credit and has received from any L/C Participant its pro
rata share of such payment in accordance with subsection 3.4(a), the Issuing
Lender receives any payment related to such Letter of Credit (whether directly
from the Borrower in respect of such Letter of Credit or otherwise, including
proceeds of Collateral applied thereto by the Issuing Lender), or any payment of
interest on account thereof, the Issuing Lender will, if such payment is
received prior to 1:00 P.M., New York City time, on a Business Day, distribute
to such L/C Participant its pro rata share thereof prior to the end of such
Business Day and otherwise the Issuing Lender will distribute such payment on
the next succeeding Business Day; provided, however, that in the event that any
such payment received by the Issuing

<PAGE>
                                                                              42

Lender shall be required to be returned by the Issuing Lender, such L/C
Participant shall return to the Issuing Lender the portion thereof previously
distributed by the Issuing Lender to it.

            3.5 Reimbursement Obligation of the Borrowers. (a) Each of the
Borrowers agrees to reimburse the Issuing Lender, upon receipt by the Parent
Borrower of notice from the Issuing Lender of the date and amount of a draft
presented under any Letter of Credit issued for the account of such Borrower and
paid by the Issuing Lender, for the amount of (i) such draft so paid and (ii)
any taxes, fees, charges or other costs or expenses reasonably incurred by the
Issuing Lender in connection with such payment. Each such payment shall be made
to the Issuing Lender, at its address for notices specified herein in the
currency in which such Letter of Credit is denominated (except that, in the case
of any Letter of Credit denominated in any Designated Foreign Currency, in the
event that such payment is not made to the Issuing Lender within three Business
Days of the date of receipt by the Parent Borrower of such notice, upon notice
by the Issuing Lender to the Parent Borrower, such payment shall be made in
Dollars, in an amount equal to the Dollar Equivalent of the amount of such
payment converted on the date of such notice into Dollars at the Spot Rate of
Exchange on such date) and in immediately available funds, on the date on which
the Parent Borrower (on behalf of itself or such Borrower, as the case may be)
receives such notice, if received prior to 11:00 A.M., New York City time, on a
Business Day and otherwise on the next succeeding Business Day. Any conversion
by the Issuing Lender of any payment to be made by any Borrower in respect of
any Letter of Credit denominated in any Designated Foreign Currency into Dollars
in accordance with this subsection 3.5(a) shall be conclusive and binding upon
such Borrower and the Revolving Credit Lenders in the absence of manifest error;
provided that upon the request of any Borrower or any Revolving Credit Lender,
the Issuing Lender shall provide to such Borrower or Revolving Credit Lender a
certificate including reasonably detailed information as to the calculation of
such conversion.

            (b) Interest shall be payable on any and all amounts remaining
unpaid by any of the Borrowers under this subsection (i) from the date the draft
presented under the affected Letter of Credit is paid to the date on which such
Borrower is required to pay such amounts pursuant to paragraph (a) above at the
rate which would then be payable on any outstanding ABR Loans that are Revolving
Credit Loans and (ii) thereafter until payment in full at the rate which would
be payable on any outstanding ABR Loans that are Tranche B Term Loans which were
then overdue.

            3.6 Obligations Absolute. (a) Each of the Borrowers' obligations
under this Section 3 shall be absolute and unconditional under any and all
circumstances and irrespective of any set-off, counterclaim or defense to
payment which such Borrower may have or have had against the Issuing Lender, any
L/C Participant or any beneficiary of a Letter of Credit, provided that this
paragraph shall not relieve the Issuing Lender or any L/C Participant of any
liability resulting from the gross negligence or willful misconduct of the
Issuing Lender or such L/C Participant, or otherwise affect any defense or other
right that such Borrower may have as a result of any such gross negligence or
willful misconduct.

            (b) Each Borrower also agrees with the Issuing Lender that the
Issuing Lender and the L/C Participants shall not be responsible for, and such
Borrower's Reimbursement Obligations under subsection 3.5(a) shall not be
affected by, among other things, (i) the validity or genuineness of documents or
of any endorsements thereon, even though such documents shall in fact prove to
be invalid, fraudulent or forged, or (ii) any dispute between or among such
Borrower and any beneficiary

<PAGE>
                                                                              43

of any Letter of Credit or any other party to which such Letter of Credit may be
transferred or (iii) any claims whatsoever of such Borrower against any
beneficiary of such Letter of Credit or any such transferee, provided that this
paragraph shall not relieve the Issuing Lender or any L/C Participant of any
liability resulting from the gross negligence or willful misconduct of the
Issuing Lender or such L/C Participant, or otherwise affect any defense or other
right that such Borrower may have as a result of any such gross negligence or
willful misconduct.

            (c) Neither the Issuing Lender nor any L/C Participant shall be
liable for any error, omission, interruption or delay in transmission, dispatch
or delivery of any message or advice, however transmitted, in connection with
any Letter of Credit, except for errors or omissions caused by such Person's
gross negligence or willful misconduct.

            (d) Each Borrower agrees that any action taken or omitted by the
Issuing Lender under or in connection with any Letter of Credit or the related
drafts or documents, if done in the absence of gross negligence or willful
misconduct and in accordance with the standards of care specified in the Uniform
Commercial Code of the State of New York, shall be binding on such Borrower and
shall not result in any liability of the Issuing Lender or any L/C Participant
to such Borrower.

            3.7 Letter of Credit Payments. If any draft shall be presented for
payment under any Letter of Credit, the Issuing Lender shall promptly notify the
Parent Borrower of the date and amount thereof. The responsibility of the
Issuing Lender to the Borrower in respect of any Letter of Credit in connection
with any draft presented for payment under any Letter of Credit shall, in
addition to any payment obligation expressly provided for in such Letter of
Credit, be limited to determining that the documents (including each draft)
delivered under such Letter of Credit in connection with such presentment are in
conformity with such Letter of Credit, provided that this paragraph shall not
relieve the Issuing Lender of any liability resulting from the gross negligence
or willful misconduct of the Issuing Lender, or otherwise affect any defense or
other right that such Borrower may have as a result of any such gross negligence
or willful misconduct.

            3.8 Application. To the extent that any provision of any Application
related to any Letter of Credit is inconsistent with the provisions of this
Section 3, the provisions of this Section 3 shall apply.

SECTION 4. GENERAL PROVISIONS APPLICABLE TO LOANS AND LETTERS OF CREDIT

            4.1 Interest Rates and Payment Dates. (a) Each Eurocurrency Loan
shall bear interest for each day during each Interest Period with respect
thereto at a rate per annum equal to the Eurocurrency Rate determined for such
day plus the Applicable Margin in effect for such day.

            (b) Each ABR Loan shall bear interest for each day that it is
outstanding at a rate per annum equal to the ABR for such day plus the
Applicable Margin in effect for such day.

            (c) If all or a portion of (i) the principal amount of any Loan,
(ii) any interest payable thereon or (iii) any commitment fee or other amount
payable hereunder shall not be paid when due

<PAGE>
                                                                              44

(whether at the stated maturity, by acceleration or otherwise), such overdue
amount shall bear interest at a rate per annum which is (x) in the case of
overdue principal, the rate that would otherwise be applicable thereto pursuant
to the relevant foregoing provisions of this subsection plus 2.00% or (y) in the
case of overdue interest, fees or other amounts, the rate described in paragraph
(b) of this subsection for ABR Loans that are Tranche B Term Loans plus 2.00%,
in each case from the date of such non-payment until such amount is paid in full
(as well after as before judgment).

            (d) Interest shall be payable in arrears on each Interest Payment
Date, provided that interest accruing pursuant to paragraph (c) of this
subsection shall be payable from time to time on demand.

            (e) It is the intention of the parties hereto to comply strictly
with applicable usury laws; accordingly, it is stipulated and agreed that the
aggregate of all amounts which constitute interest under applicable usury laws,
whether contracted for, charged, taken, reserved, or received, in connection
with the indebtedness evidenced by this Agreement or any Notes, or any other
document relating or referring hereto or thereto, now or hereafter existing,
shall never exceed under any circumstance whatsoever the maximum amount of
interest allowed by applicable usury laws.

            4.2 Conversion and Continuation Options. (a) The Parent Borrower may
elect from time to time to convert outstanding Term Loans and Revolving Credit
Loans from Eurocurrency Loans made or outstanding in Dollars to ABR Loans by
giving the Administrative Agent at least two Business Days' prior irrevocable
notice of such election, provided that any such conversion of Eurocurrency Loans
made or outstanding in Dollars may only be made on the last day of an Interest
Period with respect thereto. The Parent Borrower may elect from time to time to
convert outstanding Term Loans and Revolving Credit Loans from ABR Loans to
Eurocurrency Loans outstanding in Dollars by giving the Administrative Agent at
least three Business Days' prior irrevocable notice of such election. Any such
notice of conversion to Eurocurrency Loans outstanding in Dollars shall specify
the length of the initial Interest Period or Interest Periods therefor. Upon
receipt of any such notice the Administrative Agent shall promptly notify each
affected Lender thereof. All or any part of outstanding Eurocurrency Loans made
or outstanding in Dollars and ABR Loans may be converted as provided herein,
provided that (i) (unless the Required Lenders otherwise consent) no Loan may be
converted into a Eurocurrency Loan when any Default or Event of Default has
occurred and is continuing and, in the case of any Default, the Administrative
Agent has given notice to the Parent Borrower that no such conversions may be
made and (ii) no Loan may be converted into a Eurocurrency Loan after the date
that is one month prior to either the Termination Date (in the case of
conversions of Revolving Credit Loans or Tranche A Term Loans) or the Final
Maturity Date (in the case of conversions of Tranche B Term Loans).

            (b) Any Eurocurrency Loans may be continued as such upon the
expiration of the then current Interest Period with respect thereto by the
Parent Borrower giving notice to the Administrative Agent, of the length of the
next Interest Period to be applicable to such Loans, determined in accordance
with the applicable provisions of the term "Interest Period" set forth in
subsection 1.1, provided that no Eurocurrency Loan may be continued as such (i)
(unless the Required Lenders otherwise consent) when any Default or Event of
Default has occurred and is continuing and, in the case of any Default, the
Administrative Agent has given notice to the Parent Borrower that no such

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                                                                              45

continuations may be made or (ii) after the date that is one month prior to
either the Termination Date (in the case of continuations of Revolving Credit
Loans or Tranche A Term Loans) or the Final Maturity Date (in the case of
continuations of Tranche B Term Loans), and provided, further, that (A) in the
case of Eurocurrency Loans made or outstanding in Dollars, if the Parent
Borrower shall fail to give any required notice as described above in this
paragraph or if such continuation is not permitted pursuant to the preceding
proviso such Loans shall be automatically converted to ABR Loans on the last day
of such then expiring Interest Period and (B) in case of Eurocurrency Loans made
or outstanding in any Designated Foreign Currency, if the Parent Borrower shall
fail to give any required notice as described above in this paragraph or if such
continuation is not permitted pursuant to clause (i) of the preceding proviso,
such Eurocurrency Loans will be continued for the shortest available Interest
Periods as determined by the Administrative Agent. Upon receipt of any such
notice of continuation pursuant to this subsection 4.2(b), the Administrative
Agent shall promptly notify each affected Lender thereof.

            4.3 Minimum Amounts of Tranches. All borrowings, conversions and
continuations of Loans hereunder and all selections of Interest Periods
hereunder shall be in such amounts and be made pursuant to such elections so
that, after giving effect thereto, the aggregate principal amount of the
Eurocurrency Loans outstanding in Dollars comprising each Tranche shall be equal
to $5,000,000 or a whole multiple of $1,000,000 in excess thereof, the Dollar
Equivalent of the aggregate principal amount of the Eurocurrency Loans
outstanding in any Designated Foreign Currency comprising each Set shall be
equal to $5,000,000 or a whole multiple of $1,000,000 in excess thereof and so
that there shall not be more than 15 Tranches at any one time outstanding.

            4.4 Optional and Mandatory Prepayments and Commitment Reductions.
(a) Each of the Borrowers may at any time and from time to time prepay the Loans
(including the Reimbursement Obligations in respect of Letters of Credit issued
for its account) and permanently reduce the Revolving Credit Commitments, in
whole or in part, subject to subsections 4.4(k) and 4.12, without premium or
penalty, upon at least three Business Days' irrevocable notice by the Parent
Borrower on behalf of the applicable Borrower to the Administrative Agent (in
the case of Eurocurrency Loans and Reimbursement Obligations outstanding in any
Designated Foreign Currency), at least, three Business Days' irrevocable notice
by the Parent Borrower to the Administrative Agent (in the case of Eurocurrency
Loans and Reimbursement Obligations outstanding in Dollars), at least one
Business Day's irrevocable notice by the Parent Borrower to the Administrative
Agent (in the case of ABR Loans other than Swing Line Loans) or same-day
irrevocable notice by the Parent Borrower to the Administrative Agent (in the
case of Swing Line Loans), specifying, in the case of any prepayment of Loans,
the date and amount of prepayment or reduction, as the case may be, the identity
of the prepaying Borrower, and whether the prepayment is (i) of Term Loans,
Revolving Credit Loans or Swing Line Loans, or a combination thereof, or (ii) of
Eurocurrency Loans, ABR Loans or a combination thereof, and, in each case if a
combination thereof, the principal amount allocable to each and, in the case of
any prepayment of Reimbursement Obligations, the date and amount of prepayment,
the identity of the applicable Letter of Credit or Letters of Credit and the
amount allocable to each of such Reimbursement Obligations. Upon the receipt of
any such notice the Administrative Agent shall promptly notify each affected
Lender thereof. If any such notice is given, the amount specified in such notice
shall be due and payable on the date specified therein, together with (if a
Eurocurrency Loan is prepaid other than at the end of the Interest Period
applicable thereto) any amounts payable pursuant to

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                                                                              46

subsection 4.12 and, in the case of prepayments of the Term Loans only, accrued
interest to such date on the amount prepaid. Partial prepayments of (i) the Term
Loans shall be applied (x) pro rata (based on outstanding principal amount) to
the Tranche A Term Loans and the Tranche B Term Loans and (y) pro rata to the
respective installments of principal thereof, provided that any such payment
made within 12 months prior to the date on which an installment of principal
thereof is scheduled to be made may, at the option of the Parent Borrower, be
applied first to such installment, and (ii) the Revolving Credit Loans and the
Letters of Credit shall be applied, first, to payment of the Swing Line Loans
then outstanding, second, to payment of the Revolving Credit Loans then
outstanding, third, to payment of any Reimbursement Obligations then outstanding
and, last, to cash collateralize any outstanding L/C Obligation on terms
reasonably satisfactory to the Administrative Agent. Partial prepayments
pursuant to this subsection 4.4(a) shall be in an aggregate principal amount of
$5,000,000 or a whole multiple of $1,000,000 in excess thereof (or, in the case
of Eurocurrency Loans outstanding in any Designated Foreign Currency, the Dollar
Equivalent of an aggregate principal amount of at least approximately
$5,000,000), provided that, notwithstanding the foregoing, any Loan may be
prepaid in its entirety.

            (b) Except as otherwise provided in subsection 4.14, if, at any time
during the Revolving Credit Commitment Period, the Aggregate Outstanding
Revolving Credit with respect to all of the Revolving Credit Lenders (including
the Swing Line Lender) exceeds the aggregate Revolving Credit Commitments then
in effect, the Borrowers shall, without notice or demand, immediately repay the
Revolving Credit Loans and the Swing Line Loans in an aggregate principal amount
equal to such excess together with interest accrued to the date of such payment
or prepayment and any amounts payable under subsection 4.12. To the extent that
after giving effect to any prepayment of the Loans required by the preceding
sentence, such Aggregate Outstanding Revolving Credit exceeds the aggregate
Revolving Credit Commitments then in effect, the Borrowers shall, without notice
or demand, immediately cash collateralize the then outstanding L/C Obligations
in an amount equal to such excess upon terms reasonably satisfactory to the
Administrative Agent.

            (c) If (i) Holding or any of its Subsidiaries shall incur
Indebtedness for borrowed money (other than Indebtedness permitted pursuant to
subsection 8.2 hereof and Section 5.4.2 of the Guarantee and Collateral
Agreement) pursuant to a public offering or private placement or otherwise, (ii)
Holding or any of its Subsidiaries shall make an Asset Sale (other than pursuant
to clauses (i), (ii), (iii), (iv), (v), (vi) and (viii) of subsection 8.6(a)),
(iii) Holding or any of its Subsidiaries shall enter into a Permitted
Receivables Securitization or (iv) Holding or any of Subsidiaries shall receive
in excess of $20,000,000 of Net Cash Proceeds from Sale and Leaseback
Transactions during the term of this Agreement, then, in each case, the
Borrowers shall prepay the Loans and cash collateralize the L/C Obligations in
an amount equal to (w) in the case of the incurrence of any such Indebtedness,
100% of the Net Cash Proceeds thereof, (x) in the case of any such Asset Sale,
100% of the Net Cash Proceeds thereof minus any Reinvested Amounts, (y) in the
case of any such Permitted Receivables Securitization, 100% of the Net Cash
Proceeds thereof and (z) in the case of any such Sale and Leaseback Transaction,
100% of the Net Cash Proceeds to the extent such Net Cash Proceeds, together
with the Net Cash Proceeds of any other Sale and Leaseback Transaction entered
into by Holding or any of its Subsidiaries, exceeds $20,000,000, in each such
case, with such prepayment to be made on the date of receipt of any such Net
Cash Proceeds. Nothing in this paragraph (c) shall limit the rights of the
Administrative Agent and the Lenders set forth in Section 9.

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                                                                              47

            (d) Commencing March 31, 2001, and on each March 31 thereafter, the
Borrowers shall apply toward the prepayment of the Term Loans and the reduction
of the Revolving Credit Commitments as set forth in subsection 4.4(f) the ECF
Percentage of the Parent Borrower's Excess Cash Flow for the fiscal year ending
on the immediately preceding last Saturday in December (or, (i) in the case of
any year where December 31 is a Saturday, the fiscal year ending on the date in
December set forth opposite such fiscal year on Schedule 4.4(d) and (ii) in the
case of the first such payment, the fiscal period beginning on the Effective
Date and ending on December 24, 1999).

            (e) The Borrowers shall prepay all Swing Line Loans then outstanding
simultaneously with each borrowing of Revolving Credit Loans.

            (f) Prepayments pursuant to subsections 4.4(c) and 4.4(d) shall be
applied, first, to prepay Term Loans then outstanding, second, to prepay Swing
Line Loans then outstanding, third, to prepay Revolving Credit Loans then
outstanding, fourth, to pay any Reimbursement Obligations then outstanding and,
last, to cash collateralize any outstanding L/C Obligations on terms reasonably
satisfactory to the Administrative Agent. Prepayments of Term Loans pursuant to
subsections 4.4(c) and 4.4(d) shall be applied (x) pro rata (based on
outstanding principal amount) to the Tranche A Term Loans and the Tranche B Term
Loans and (y) pro rata to the respective installments of principal thereof,
provided that any such payment made within 12 months prior to the date on which
an installment of principal thereof is scheduled to be made may, at the option
of the Parent Borrower, be applied first to such installment.

            (g) Notwithstanding anything to the contrary in this subsection 4.4,
so long as any Tranche A Term Loans are outstanding, each Tranche B Term Loan
Lender may, at its option, decline the portion of any optional prepayment or
mandatory payment applicable to the Tranche B Term Loans of such Lender;
accordingly, with respect to the amount of any optional or mandatory prepayment
described in this subsection 4.4 that is allocated to Tranche B Term Loans (such
amount, the "Tranche B Prepayment Amount"), the Parent Borrower will, in lieu of
applying such amount to the prepayment of Tranche B Term Loans as provided in
subsections 4.4(a), 4.4(c) and 4.4(d), on the date specified in this subsection
4.4 for such prepayment, give the Administrative Agent telephonic notice
(promptly confirmed in writing) requesting that the Administrative Agent prepare
and provide to each Tranche B Term Loan Lender a notice (each, a "Prepayment
Option Notice") as described below. As promptly as practicable after receiving
such notice from the Parent Borrower, the Administrative Agent will send to each
Tranche B Term Loan Lender a Prepayment Option Notice, which shall be in the
form of Exhibit D, and shall include an offer by the Parent Borrower to prepay
on the date (each, a "Prepayment Date") that is ten Business Days after the date
of the Prepayment Option Notice, the Tranche B Term Loans of such Lender by an
amount equal to the Tranche B Prepayment Amount indicated in such Lender's
Prepayment Option Notice. On the Prepayment Date, (i) the Parent Borrower shall
pay to the Administrative Agent the aggregate amount necessary to prepay that
portion of the outstanding Tranche B Term Loans in respect of which Tranche B
Term Loan Lenders have accepted prepayment as described above (such Lenders, the
"Accepting Lenders"), and such amount shall be applied to reduce the Tranche B
Prepayment Amounts with respect to each Accepting Lender and (ii) the Parent
Borrower shall pay to the Administrative Agent an amount equal to the portion of
the Tranche B Prepayment Amount not accepted by the Accepting Lenders, and such
amount shall be applied to the prepayment of the Tranche A Term Loans.

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                                                                              48

            (h) Amounts prepaid on account of Term Loans pursuant to subsection
4.4(a), 4.4(c) or 4.4(d) may not be reborrowed.

            (i) The Revolving Credit Commitments shall be permanently reduced by
the amount of all prepayments of Revolving Credit Loans, payments of
Reimbursement Obligations and cash collateralizations of L/C Obligations made
under subsection 4.4(c) or 4.4(d). Notwithstanding anything to the contrary in
this subsection 4.4, in the event Holding or any of its Subsidiaries shall enter
into a Permitted Receivables Securitization, the aggregate Revolving Credit
Commitments of all the Revolving Credit Lenders shall not be reduced below
$25,000,000 pursuant to the terms of subsection 4.4(c)(iii).

            (j) Notwithstanding the foregoing provisions of this subsection 4.4,
if at any time any prepayment of the Loans pursuant to subsection 4.4(b),
4.4(c), 4.4(d) or 4.14 would result, after giving effect to the procedures set
forth in this Agreement, in the Parent Borrower incurring breakage costs under
subsection 4.12 as a result of Eurocurrency Loans being prepaid other than on
the last day of an Interest Period with respect thereto, then the relevant
Borrower may, so long as no Default or Event of Default shall have occurred and
be continuing, in its sole discretion, initially (i) deposit a portion (up to
100%) of the amounts that otherwise would have been paid in respect of such
Eurocurrency Loans with the Administrative Agent (which deposit must be equal in
amount to the amount of such Eurocurrency Loans not immediately prepaid) to be
held as security for the obligations of the Borrowers to make such prepayment
pursuant to a cash collateral agreement to be entered into on terms reasonably
satisfactory to the Administrative Agent, with such cash collateral to be
directly applied upon the first occurrence thereafter of the last day of an
Interest Period with respect to which Eurocurrency Loans (or such earlier date
or dates as shall be requested by the Parent Borrower) or (ii) make a prepayment
of the Revolving Credit Loans in accordance with subsection 4.4(a) with an
amount equal to a portion (up to 100%) of the amounts that otherwise would have
been paid in respect of such Eurocurrency Loans (which prepayment, together with
any deposits pursuant to clause (i) above, must be equal in amount to the amount
of such Eurocurrency Loans not immediately prepaid); provided that,
notwithstanding anything in this Agreement to the contrary, none of the
Borrowers may request any Extension of Credit under the Revolving Credit
Commitments that would reduce the aggregate amount of the Available Revolving
Credit Commitments to an amount that is less than the amount of such prepayment
until the related portion of such Eurocurrency Loans have been prepaid;
provided, further, that, in the case of either clause (i) or (ii), such unpaid
Eurocurrency Loans shall continue to bear interest in accordance with subsection
4.1 until such unpaid Eurocurrency Loans or the related portion of such
Eurocurrency Loans, as the case may be, have or has been prepaid.

            (k) Optional prepayments of Tranche B Term Loans, and any
prepayments of Tranche B Term Loans (whether optional or mandatory) made as a
result of or in connection with a Change of Control, any sale of all or
substantially all of the assets of the Parent Borrower and its Subsidiaries or
any refinancing of any of the Indebtedness hereunder, shall be at par plus
accrued interest on the amount prepaid plus a premium. The premium shall
initially be 2% of the aggregate principal amount prepaid, shall decline to 1%
on the first anniversary of the Effective Date and, from and after the second
anniversary of the Effective Date, shall be 0%.

<PAGE>
                                                                              49

            4.5 Commitment Fees; Administrative Agent's Fee; Other Fees. (a) The
Parent Borrower agrees to pay to the Administrative Agent for the account of
each Revolving Credit Lender, a commitment fee for the period from and including
the first day of the Revolving Credit Commitment Period to the Termination Date,
computed at the Commitment Fee Rate on the average daily amount of the Available
Revolving Credit Commitment of such Revolving Credit Lender during the period
for which payment is made, payable quarterly in arrears on the last day of each
March, June, September and December and on the Termination Date or such earlier
date as the Revolving Credit Commitments shall terminate as provided herein,
commencing on the Effective Date.

            (b) The Parent Borrower shall pay to the Administrative Agent an
annual administration fee of $250,000 in respect of the period from the
Effective Date to the first anniversary thereof and of $150,000 in respect of
each annual period subsequent thereto, which fee shall be payable in equal
quarterly installments in advance on the Effective Date in respect of the
quarter in which the Effective Date occurs (prorated for the period from the
Effective Date to the end of such quarter) and on the last day of each March,
June, September and December thereafter (pro rated for the quarterly installment
paid immediately prior to the first anniversary of the Effective Date based on
the $250,000 amount for the period from the scheduled date of payment of such
quarterly installment to such first anniversary and based on the $150,000 amount
for the remainder of the quarterly period for which such payment is made).

            (c) The Parent Borrower shall pay (without duplication, including of
any fee payable under subsections 4.5(a) and 4.5(b)) to Chase and Bank of
America, for their respective accounts and, as specified therein, for the
account of the Lenders, the other fees required to be paid pursuant to (i) the
Commitment Letter, dated November 11, 1999, among Chase, CSI, Bank of America,
BAS and the Parent Borrower and (ii) the Fee Letter, dated November 11, 1999,
among Chase, CSI, Bank of America, BAS and the Parent Borrower, in each case in
the amounts and on the dates set forth therein.

            4.6 Computation of Interest and Fees. (a) Interest (other than
interest based on the Prime Rate) shall be calculated on the basis of a 360-day
year for the actual days elapsed; and commitment fees and interest based on the
Prime Rate shall be calculated on the basis of a 365- (or 366-, as the case may
be) day year for the actual days elapsed. The Administrative Agent shall as soon
as practicable notify the Parent Borrower and the affected Lenders of each
determination of a Eurocurrency Rate. Any change in the interest rate on a Loan
resulting from a change in the ABR, the Eurocurrency Reserve Requirements, the
C/D Assessment Rate or the C/D Reserve Percentage shall become effective as of
the opening of business on the day on which such change becomes effective. The
Administrative Agent shall as soon as practicable notify the Parent Borrower and
the affected Lenders of the effective date and the amount of each such change in
interest rate.

            (b) Each determination of an interest rate by the Administrative
Agent pursuant to any provision of this Agreement shall be conclusive and
binding on each of the Borrowers and the Lenders in the absence of manifest
error. The Administrative Agent shall, at the request of the Parent Borrower,
deliver to the Parent Borrower a statement showing in reasonable detail the
calculations used by the Administrative Agent in determining any interest rate
pursuant to subsection 4.1, excluding any Eurocurrency Base Rate which is based
upon the Telerate British Bankers Assoc. Interest Settlement Rates Page and any
ABR which is based upon the Prime Rate.

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                                                                              50

            4.7 Inability to Determine Interest Rate. If prior to the first day
of any Interest Period, the Administrative Agent shall have determined (which
determination shall be conclusive and binding upon each of the Borrowers) that,
by reason of circumstances affecting the relevant market, adequate and
reasonable means do not exist for ascertaining the Eurocurrency Rate with
respect to any Eurocurrency Loan (the "Affected Eurocurrency Rate") for such
Interest Period, the Administrative Agent shall give telecopy or telephonic
notice thereof to the Parent Borrower and the Lenders as soon as practicable
thereafter. If such notice is given, (a) any Eurocurrency Loans the rate of
interest applicable to which is based upon the Affected Eurocurrency Rate
requested to be made on the first day of such Interest Period shall be made as
ABR Loans (to the extent otherwise permitted by subsection 4.2), (b) any Loans
that were to have been converted on the first day of such Interest Period to or
continued as Eurocurrency Loans the rate of interest applicable to which is
based upon the Affected Eurocurrency Rate shall be converted to or continued as
ABR Loans (to the extent otherwise permitted by subsection 4.2), (c) any
outstanding Eurocurrency Loans that are Revolving Credit Loans that were to have
been converted on the first day of such Interest Period to or continued as
Eurocurrency Loans the rate of interest applicable to which is based upon the
Affected Eurocurrency Rate and that are not otherwise permitted to be converted
to or continued as ABR Loans by subsection 4.2 shall, upon demand by the
Revolving Credit Lenders the Revolving Credit Commitment Percentage of which
aggregate at least 51%, be immediately repaid by the applicable Borrower on the
last day of the then current Interest Period with respect thereto together with
accrued interest thereon or otherwise, at the option of the Parent Borrower,
shall remain outstanding and bear interest at a rate which reflects, as to each
of the Revolving Credit Lenders, such Revolving Credit Lender's cost of funding
such Eurocurrency Loans, as reasonably determined by such Revolving Credit
Lender, plus the Applicable Margin hereunder and (d) any outstanding
Eurocurrency Loans that are Tranche A Term Loans that were to have been
converted on the first day of such Interest Period to or continued as
Eurocurrency Loans the rate of interest applicable to which is based upon the
Affected Eurocurrency Rate and that are not otherwise permitted to be converted
to or continued as ABR Loans by subsection 4.2 shall, upon demand by the Tranche
A Term Loan Lenders the Tranche A Term Loan Percentage of which aggregate at
least 51%, be immediately repaid by the Parent Borrower on the last day of the
then current Interest Period with respect thereto together with accrued interest
thereon or otherwise, at the option of the Parent Borrower, shall remain
outstanding and bear interest at a rate which reflects, as to each of the
Tranche A Term Loan Lenders, such Tranche A Term Loan Lender's cost of funding
such Eurocurrency Loans, as reasonably determined by such Tranche A Term Loan
Lender, plus the Applicable Margin hereunder. If any such repayment occurs on a
day which is not the last day of the then current Interest Period with respect
to such affected Eurocurrency Loan, the applicable Borrower shall pay to each of
the applicable Lenders such amounts, if any, as may be required pursuant to
subsection 4.12. Until such notice has been withdrawn by the Administrative
Agent, no further Eurocurrency Loans the rate of interest applicable to which is
based upon the Affected Eurocurrency Rate shall be made or continued as such,
nor shall any of the Borrowers have the right to convert ABR Loans to
Eurocurrency Loans the rate of interest applicable to which is based upon the
Affected Eurocurrency Rate.

            4.8 Pro Rata Treatment and Payments. (a) Subject to subsection
4.8(c), each borrowing of Revolving Credit Loans (other than Swing Line Loans)
by any of the Borrowers from the Revolving Credit Lenders hereunder shall be
made, each payment by any of the Borrowers on account

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                                                                              51

of any commitment fee in respect of the Revolving Credit Commitments hereunder
shall be allocated by the Administrative Agent and any reduction of the
Revolving Credit Commitments of the Revolving Credit Lenders shall be allocated
by the Administrative Agent, pro rata according to the relevant Revolving Credit
Commitment Percentages of the Revolving Credit Lenders. Subject to subsection
4.8(c), each payment (including each prepayment) by any of the Borrowers on
account of principal of and interest on any Revolving Credit Loans shall be
allocated by the Administrative Agent pro rata according to the respective
outstanding principal amounts of such Revolving Credit Loans then held by the
Revolving Credit Lenders. Each payment (including each prepayment) by any of the
Borrowers on account of principal of and interest on any Term Loans shall,
subject to subsection 4.4(g), be allocated by the Administrative Agent pro rata
according to the respective outstanding principal amounts of such Term Loans
then held by the Term Loan Lenders. All payments (including prepayments) to be
made by any of the Borrowers hereunder and under any Notes, whether on account
of principal, interest, fees, Reimbursement Obligations or otherwise, shall be
made without set-off, counterclaim or, except as permitted under subsection
4.11, other deduction and shall be made prior to 1:00 P.M., New York City time,
on the due date thereof to the Administrative Agent, for the account of the
Lenders holding the relevant Loans or the L/C Participants, as the case may be,
at the Administrative Agent's office specified in subsection 11.2, in Dollars
or, in the case of Eurocurrency Loans outstanding in any Designated Foreign
Currency and L/C Obligations in any Designated Foreign Currency, such Designated
Foreign Currency and, whether in Dollars or any Designated Foreign Currency, in
immediately available funds. Payments received by the Administrative Agent after
such time shall be deemed to have been received on the next Business Day. The
Administrative Agent shall distribute such payments to such Lenders, if any such
payment is received prior to 1:00 P.M., New York City time, on a Business Day,
in like funds as received prior to the end of such Business Day and otherwise
the Administrative Agent shall distribute such payment to such Lenders on the
next succeeding Business Day. If any payment hereunder (other than payments on
the Eurocurrency Loans) becomes due and payable on a day other than a Business
Day, the maturity of such payment shall be extended to the next succeeding
Business Day, and, with respect to payments of principal, interest thereon shall
be payable at the then applicable rate during such extension. If any payment on
a Eurocurrency Loan becomes due and payable on a day other than a Business Day,
the maturity of such payment shall be extended to the next succeeding Business
Day (and, with respect to payments of principal, interest thereon shall be
payable at the then applicable rate during such extension) unless the result of
such extension would be to extend such payment into another calendar month, in
which event such payment shall be made on the immediately preceding Business
Day.

            (b) Unless the Administrative Agent shall have been notified in
writing by any Revolving Credit Lender prior to a borrowing that such Revolving
Credit Lender will not make the amount that would constitute its Revolving
Credit Commitment Percentage of such borrowing available to the Administrative
Agent, the Administrative Agent may assume that such Revolving Credit Lender is
making such amount available to the Administrative Agent, and the Administrative
Agent may, in reliance upon such assumption, make available to any of the
Borrowers in respect of such borrowing a corresponding amount. If such amount is
not made available to the Administrative Agent by the required time on the
Borrowing Date therefor, such Revolving Credit Lender shall pay to the
Administrative Agent, on demand, such amount with interest thereon at a rate
equal to (i) in the case of any Loans to be made in Dollars, the daily average
Federal Funds Effective Rate or (ii) in the case of any Revolving Credit Loans
to be made in any Designated Foreign Currency, the rate customary in such

<PAGE>
                                                                              52

Designated Foreign Currency for settlement of similar inter-bank obligations, as
quoted by the Administrative Agent, in each case for the period until such
Revolving Credit Lender makes such amount immediately available to the
Administrative Agent. A certificate of the Administrative Agent submitted to any
Revolving Credit Lender with respect to any amounts owing under this subsection
shall be conclusive in the absence of manifest error. If such Revolving Credit
Lender's Revolving Credit Commitment Percentage of such borrowing is not made
available to the Administrative Agent by such Revolving Credit Lender within
three Business Days of such Borrowing Date, (x) the Administrative Agent shall
notify the Parent Borrower of the failure of such Revolving Credit Lender to
make such amount available to the Administrative Agent and the Administrative
Agent shall also be entitled to recover such amount with interest thereon at the
rate per annum applicable to in the case of any Loans to be made in Dollars, ABR
Loans hereunder or, in the case of Loans to be made in any Designated Foreign
Currency, the rate per annum referred to in clause (ii) of the second preceding
sentence in respect of such Designated Foreign Currency plus the Applicable
Margin hereunder, on demand, from such Borrower and (y) then such Borrower may,
without waiving any rights it may have against such Revolving Credit Lender,
borrow a like amount on an unsecured basis from any commercial bank for a period
ending on the date upon which such Revolving Credit Lender does in fact make
such borrowing available, provided that at the time such borrowing is made and
at all times while such amount is outstanding such Borrower would be permitted
to borrow such amount pursuant to subsection 2.1.

            (c) Notwithstanding any other provision contained herein, in the
event that any Revolving Credit Lender gives notice to the Administrative Agent
that it is unable to fund Revolving Credit Loans in any Designated Foreign
Currency (other than Euros and Sterling) at a reasonable cost to it, the
Administrative Agent shall, until such notice is withdrawn and to the extent
necessary in order to excuse such Revolving Credit Lender from making any
Revolving Credit Loans in such Designated Foreign Currency and to continue to
make available to the Borrowers the full aggregate amount of the Revolving
Credit Commitments, reallocate from time to time among the Revolving Credit
Lenders the outstanding Revolving Credit Loans denominated in Dollars and the
Revolving Credit Loans in such Designated Foreign Currency; provided that, in
the event that the Revolving Credit Lenders the Revolving Credit Commitment
Percentage of which aggregate at least 51% give such notice to the
Administrative Agent, the Revolving Credit Lenders shall not be required to make
any Revolving Credit Loans in such Designated Foreign Currency until any such
notices have been withdrawn so that the Revolving Credit Lenders the Revolving
Credit Commitment Percentage of which aggregate at least 51% have either not
given any such notice or have withdrawn any such notice.

            4.9 Illegality. Notwithstanding any other provision herein, if the
adoption of or any change in any Requirement of Law or in the interpretation or
application thereof occurring after the Effective Date shall make it unlawful
for any Lender to make or maintain any Eurocurrency Loans as contemplated by
this Agreement ("Affected Eurocurrency Loans"), (a) such Lender shall promptly
give written notice of such circumstances to the Parent Borrower and the
Administrative Agent (which notice shall be withdrawn whenever such
circumstances no longer exist), (b) the commitment of such Lender hereunder to
make Affected Eurocurrency Loans, continue Affected Eurocurrency Loans as such
and convert ABR Loans to Affected Eurocurrency Loans shall forthwith be
cancelled and, until such time as it shall no longer be unlawful for such Lender
to make or maintain Affected Eurocurrency Loans, such Lender shall then have a
commitment only to make an ABR Loan when an Affected Eurocurrency Loan is
requested (to the extent otherwise permitted by subsection 4.2), (c) such

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                                                                              53

Lender's Loans then outstanding as Affected Eurocurrency Loans, if any, shall be
converted automatically to ABR Loans on the respective last days of the then
current Interest Periods with respect to such Loans or within such earlier
period as required by law (to the extent otherwise permitted by subsection 4.2)
and (d) such Lender's Loans then outstanding as Affected Eurocurrency Loans, if
any, not otherwise permitted to be converted to ABR Loans by subsection 4.2
shall, upon notice to the Parent Borrower, be prepaid with accrued interest
thereon on the last day of the then current Interest Period with respect thereto
(or such earlier date as may be required by any such Requirement of Law). If any
such conversion of an Affected Eurocurrency Loan occurs on a day which is not
the last day of the then current Interest Period with respect thereto, the
applicable Borrower shall pay to such Lender such amounts, if any, as may be
required pursuant to subsection 4.12.

            4.10 Requirements of Law. (a) If the adoption of or any change in
any Requirement of Law or in the interpretation or application thereof
applicable to any Lender, or compliance by any Lender with any request or
directive (whether or not having the force of law) from any central bank or
other Governmental Authority, in each case made subsequent to the Effective Date
(or, if later, the date on which such Lender becomes a Lender):

            (i) shall subject such Lender to any tax of any kind whatsoever with
      respect to any Letter of Credit, any Application or any Eurocurrency Loans
      made by it or its obligation to make Eurocurrency Loans, or change the
      basis of taxation of payments to such Lender in respect thereof (except
      for Non-Excluded Taxes covered by subsection 4.11 (including Non-Excluded
      Taxes imposed solely by reason of any failure of such Lender to comply
      with its obligations (if any) under subsection 4.11(b) or (c)) and changes
      in taxes measured by or imposed upon the overall net income, or franchise
      taxes, or taxes measured by or imposed upon overall capital or net worth,
      or branch taxes (in the case of such capital, net worth or branch taxes,
      imposed in lieu of such net income tax), of such Lender or its applicable
      lending office, branch, or any affiliate thereof);

            (ii) shall impose, modify or hold applicable any reserve, special
      deposit, compulsory loan or similar requirement against assets held by,
      deposits or other liabilities in or for the account of, advances, loans or
      other extensions of credit by, or any other acquisition of funds by, any
      office of such Lender which is not otherwise included in the determination
      of the Eurocurrency Rate hereunder; or

            (iii) shall impose on such Lender any other condition (excluding any
      tax of any kind whatsoever);

and the result of any of the foregoing is to increase the cost to such Lender,
by an amount which such Lender deems to be material, of making, converting into,
continuing or maintaining Eurocurrency Loans or issuing or participating in
Letters of Credit or to reduce any amount receivable hereunder in respect
thereof, then, in any such case, upon notice to the Parent Borrower from such
Lender, through the Administrative Agent, in accordance herewith, the applicable
Borrower shall promptly pay such Lender, upon its demand, any additional amounts
necessary to compensate such Lender for such increased cost or reduced amount
receivable, provided that, in any such case, such Borrower may elect to convert
the Eurocurrency Loans made by such Lender hereunder to ABR Loans (to the extent
otherwise permitted

<PAGE>
                                                                              54

by subsection 4.2) by giving the Administrative Agent at least one Business
Day's notice of such election, in which case such Borrower shall promptly pay to
such Lender, upon demand, without duplication, such amounts, if any, as may be
required pursuant to this subsection and such amounts, if any, as may be
required pursuant to subsection 4.12. If any Lender becomes entitled to claim
any additional amounts pursuant to this subsection, it shall provide prompt
notice thereof to the Parent Borrower, through the Administrative Agent,
certifying (x) that one of the events described in this paragraph (a) has
occurred and describing in reasonable detail the nature of such event, (y) as to
the increased cost or reduced amount resulting from such event and (z) as to the
additional amount demanded by such Lender and a reasonably detailed explanation
of the calculation thereof. Such a certificate as to any additional amounts
payable pursuant to this subsection submitted by such Lender, through the
Administrative Agent, to the Parent Borrower shall be conclusive in the absence
of manifest error. This covenant shall survive the termination of this Agreement
and the payment of the Loans and all other amounts payable hereunder.

            (b) If any Lender shall have determined that the adoption of or any
change in any Requirement of Law regarding capital adequacy or in the
interpretation or application thereof or compliance by such Lender or any
corporation controlling such Lender with any request or directive regarding
capital adequacy (whether or not having the force of law) from any Governmental
Authority, in each case, made subsequent to the Effective Date (or, if later,
the date on which such Lender becomes a Lender), does or shall have the effect
of reducing the rate of return on such Lender's or such corporation's capital as
a consequence of its obligations hereunder or under or in respect of any Letter
of Credit to a level below that which such Lender or such corporation could have
achieved but for such change or compliance (taking into consideration such
Lender's or such corporation's policies with respect to capital adequacy) by an
amount deemed by such Lender to be material, then from time to time, within ten
Business Days after submission by such Lender to the Parent Borrower (with a
copy to the Administrative Agent) of a written request therefor certifying (x)
that one of the events described in this paragraph (b) has occurred and
describing in reasonable detail the nature of such event, (y) as to the
reduction of the rate of return on capital resulting from such event and (z) as
to the additional amount or amounts demanded by such Lender and a reasonably
detailed explanation of the calculation thereof, the applicable Borrower shall
pay to such Lender such additional amount or amounts as will compensate such
Lender for such reduction. Such a certificate as to any additional amounts
payable pursuant to this subsection submitted by such Lender, through the
Administrative Agent, to the Parent Borrower shall be conclusive in the absence
of manifest error. This covenant shall survive the termination of this Agreement
and the payment of the Loans and all other amounts payable hereunder.

            4.11 Taxes. (a) Except as provided below in this subsection, all
payments made by any of the Borrowers under this Agreement and any Notes shall
be made free and clear of, and without deduction or withholding for or on
account of, any present or future income, stamp or other taxes, levies, imposts,
duties, charges, fees, deductions or withholdings, now or hereafter imposed,
levied, collected, withheld or assessed by any Governmental Authority, excluding
taxes measured by or imposed upon the overall net income (including net income
taxes imposed by means of a backup withholding tax) of any Lender or its
applicable lending office, or any branch or affiliate thereof, and all franchise
taxes, branch taxes, taxes on doing business or taxes measured by or imposed
upon the overall capital or net worth of any Lender or its applicable lending
office, or any branch or affiliate thereof, in each case imposed: (i) by the
jurisdiction under the laws of which such Lender, applicable lending

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                                                                              55

office, branch or affiliate is organized or is located, or in which its
principal executive office is located, or any nation within which such
jurisdiction is located or any political subdivision thereof; or (ii) by reason
of any connection between the jurisdiction imposing such tax and such Lender,
applicable lending office, branch or affiliate other than a connection arising
solely from such Lender having executed, delivered or performed its obligations
under, or received payment under or enforced, this Agreement or any Notes. If
any such non-excluded taxes, levies, imposts, duties, charges, fees, deductions
or withholdings ("Non-Excluded Taxes") are required to be withheld from any
amounts payable to the Administrative Agent or any Lender hereunder or under any
Notes, the amounts so payable to the Administrative Agent or such Lender shall
be increased to the extent necessary to yield to the Administrative Agent or
such Lender (after payment of all Non-Excluded Taxes) interest or any such other
amounts payable hereunder at the rates or in the amounts specified in this
Agreement and any Notes, provided, however, that any of the Borrowers shall be
entitled to deduct and withhold any Non-Excluded Taxes and shall not be required
to increase any such amounts payable to any Lender with respect to Non-Excluded
Taxes (i) that are attributable to such Lender's failure to comply with the
requirements of paragraph (b) or (c) of this subsection or (ii) that are U.S.
withholding taxes imposed on amounts payable to such Lender at the time such
Lender becomes a party to this Agreement. Whenever any Non-Excluded Taxes are
payable by any of the Borrowers, as promptly as possible thereafter the
applicable Borrower shall send to the Administrative Agent for its own account
or for the account of such Lender, as the case may be, a certified copy of an
original official receipt received by such Borrower showing payment thereof. If
any of the Borrowers fails to pay any Non-Excluded Taxes when due to the
appropriate taxing authority or fails to remit to the Administrative Agent the
required receipts or other required documentary evidence, such Borrower shall
indemnify the Administrative Agent and the Lenders for any incremental taxes,
interest or penalties that may become payable by the Administrative Agent or any
Lender as a result of any such failure. The agreements in this subsection shall
survive the termination of this Agreement and the payment of the Loans and all
other amounts payable hereunder.

            (b) Each Lender that is not a United States person (as defined in
Section 7701(a)(30) of the Code) shall:

            (X) (i) on or before the date of any payment by any of the Borrowers
      under this Agreement or any Notes to such Lender, deliver to the Parent
      Borrower and the Administrative Agent two duly completed copies of United
      States Internal Revenue Service Form W-8BEN or W-8ECI, or successor
      applicable form, as the case may be and such other forms and
      certifications as may be required under applicable law, in order to
      establish that it is entitled to receive payments under this Agreement and
      any Notes without deduction or withholding of any United States federal
      income taxes;

            (ii) deliver to the Parent Borrower and the Administrative Agent two
      further copies of any such form or certification on or before the date
      that any such form or certification expires or becomes obsolete and after
      the occurrence of any event requiring a change in the most recent form
      previously delivered by it to the Parent Borrower; and

            (iii) obtain such extensions of time for filing and complete such
      forms or certifications as may reasonably be requested by the Parent
      Borrower or the Administrative Agent; or

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                                                                              56

            (Y) in the case of any such Lender that is not a "bank" within the
      meaning of Section 881(c)(3)(A) of the Code and that is not entitled to
      comply with subparagraph (X) hereof, (i) represent to the Parent Borrower
      (for the benefit of each of the Borrowers and the Administrative Agent)
      that it is not a bank within the meaning of Section 881(c)(3)(A) of the
      Code, (ii) agree to furnish to the Parent Borrower on or before the date
      of any payment by any of the Borrowers, with a copy to the Administrative
      Agent, (A) a certificate substantially in the form of Exhibit C (any such
      certificate a "U.S. Tax Compliance Certificate") and (B) two accurate and
      complete original signed copies of Internal Revenue Service Form W-8BEN,
      or successor applicable form certifying to such Lender's legal entitlement
      at the date of such certificate to an exemption from U.S. withholding tax
      under the provisions of Section 871(h) or 881(c) of the Code with respect
      to payments to be made under this Agreement and any Notes (and to deliver
      to the Parent Borrower and the Administrative Agent two further copies of
      such form on or before the date it expires or becomes obsolete and after
      the occurrence of any event requiring a change in the most recently
      provided form and, if necessary, obtain any extensions of time reasonably
      requested by the Parent Borrower or the Administrative Agent for filing
      and completing such forms), and (iii) agree, to the extent legally
      entitled to do so, upon reasonable request by the Parent Borrower, to
      provide to the Parent Borrower (for the benefit of each of the Borrowers
      and the Administrative Agent) such other forms as may be reasonably
      required in order to establish the legal entitlement of such Lender to an
      exemption from withholding with respect to payments under this Agreement
      and any Notes (for the avoidance of doubt, in determining the
      reasonableness of a request under this clause (iii), such Lender shall be
      entitled to consider the cost (to the extent unreimbursed by the Parent
      Borrower) which would be imposed on such Lender of complying with such
      request);

unless in any such case any change in treaty, law or regulation has occurred
after the date such Person becomes a Lender hereunder which renders all such
forms inapplicable or which would prevent such Lender from duly completing and
delivering any such form with respect to it and such Lender so advises the
Parent Borrower and the Administrative Agent.

            (c) Each Revolving Credit Lender that is not incorporated or
organized under the laws of the jurisdiction under which a Foreign Subsidiary
Borrower is incorporated or organized shall, upon request by such Foreign
Subsidiary Borrower, deliver to such Foreign Subsidiary Borrower or the
applicable governmental or taxing authority, as the case may be, any form or
certificate required in order that any payment by such Foreign Subsidiary
Borrower under this Agreement or any Notes to such Revolving Credit Lender may
be made free and clear of, and without deduction or withholding for or on
account of any Non-Excluded Taxes (or to allow any such deduction or withholding
to be at a reduced rate) imposed on such payment under the laws of the
jurisdiction under which such Foreign Subsidiary Borrower is incorporated or
organized, provided that such Lender is legally entitled to complete, execute
and deliver such form or certificate and such completion, execution or
submission would not materially prejudice the legal position of such Revolving
Credit Lender.

            (d) Each Person that shall become a Lender or a Participant pursuant
to subsection 11.6 shall, upon the effectiveness of the related transfer, be
required to provide all of the forms, certifications and statements required
pursuant to this subsection, provided that, in the case of a Participant, the

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                                                                              57

obligations of such Participant pursuant to paragraph (b) or (c) of this
subsection shall be determined as if such Participant were a Lender except that
such Participant shall furnish all such required forms, certifications and
statements to the Lender from which the related participation shall have been
purchased.

            4.12 Indemnity. Each of the Borrowers agrees to indemnify each
Lender and to hold each Lender harmless from any loss or expense which such
Lender may sustain or incur (other than through such Lender's gross negligence
or willful misconduct) as a consequence of (a) default by such Borrower in
making a borrowing of, conversion into or continuation of Eurocurrency Loans
after the Parent Borrower has given a notice requesting the same in accordance
with the provisions of this Agreement, (b) default by such Borrower in making
any prepayment of Eurocurrency Loans after the Parent Borrower has given a
notice thereof in accordance with the provisions of this Agreement or (c) the
making of a prepayment or conversion of Eurocurrency Loans on a day which is not
the last day of an Interest Period with respect thereto. Such indemnification
may include an amount equal to the excess, if any, of (i) the amount of interest
which would have accrued on the amount so prepaid, or converted, or not so
borrowed, converted or continued, for the period from the date of such
prepayment or conversion or of such failure to borrow, convert or continue to
the last day of the applicable Interest Period (or, in the case of a failure to
borrow, convert or continue, the Interest Period that would have commenced on
the date of such failure) in each case at the applicable rate of interest for
such Eurocurrency Loans provided for herein (excluding, however, the Applicable
Margin included therein, if any) over (ii) the amount of interest (as reasonably
determined by such Lender) which would have accrued to such Lender on such
amount by placing such amount on deposit for a comparable period with leading
banks in the interbank eurocurrency market. A certificate as to any amounts
payable pursuant to this subsection submitted to the Parent Borrower by any
Lender shall be conclusive in the absence of manifest error. This covenant shall
survive the termination of this Agreement and the payment of the Loans and all
other amounts payable hereunder.

            4.13 Certain Rules Relating to the Payment of Additional Amounts.
(a) Upon the request, and at the expense, of the applicable Borrower, each
Lender to which any of the Borrowers is required to pay any additional amount
pursuant to subsection 4.10 or 4.11, and any Participant in respect of whose
participation such payment is required, shall reasonably afford such Borrower
the opportunity to contest, and reasonably cooperate with such Borrower in
contesting, the imposition of any Non-Excluded Tax giving rise to such payment;
provided that (i) such Lender shall not be required to afford such Borrower the
opportunity to so contest unless such Borrower shall have confirmed in writing
to such Lender its obligation to pay such amounts pursuant to this Agreement and
(ii) such Borrower shall reimburse such Lender for its reasonable attorneys' and
accountants' fees and disbursements incurred in so cooperating with such
Borrower in contesting the imposition of such Non-Excluded Tax; provided,
however that notwithstanding the foregoing no Lender shall be required to afford
any Borrower the opportunity to contest, or cooperate with such Borrower in
contesting, the imposition of any Non-Excluded Taxes, if such Lender in its sole
discretion in good faith determines that to do so would have an adverse effect
on it.

            (b) If a Lender changes its applicable lending office (other than
pursuant to paragraph (c) below) and the effect of the change, as of the date of
the change, would be to cause any of the

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                                                                              58

Borrowers to become obligated to pay any additional amount under subsection 4.10
or 4.11, such Borrower shall not be obligated to pay such additional amount.

            (c) If a condition or an event occurs which would, or would upon the
passage of time or giving of notice, result in the payment of any additional
amount to any Lender by any of the Borrowers pursuant to subsection 4.10 or
4.11, such Lender shall promptly notify the applicable Borrower and the
Administrative Agent and shall take such steps as may reasonably be available to
it and acceptable to such Borrower to mitigate the effects of such condition or
event (which shall include efforts to rebook the Loans held by such Lender at
another lending office, or through another branch or an affiliate, of such
Lender); provided that such Lender shall not be required to take any step that,
in its reasonable judgment, would be materially disadvantageous to its business
or operations or would require it to incur additional costs (unless the Parent
Borrower agrees to reimburse such Lender for the reasonable incremental
out-of-pocket costs thereof).

            (d) If any of the Borrowers shall become obligated to pay additional
amounts pursuant to subsection 4.10 or 4.11 and any affected Lender shall not
have promptly taken steps necessary to avoid the need for payments under
subsection 4.10 or 4.11, the applicable Borrower shall have the right, for so
long as such obligation remains, (x) with the assistance of the Administrative
Agent, to seek one or more substitute Lenders reasonably satisfactory to the
Administrative Agent and such Borrower to purchase the affected Loan, in whole
or in part, at an aggregate price no less than such Loan's principal amount plus
accrued interest, and assume the affected obligations under this Agreement, or
(y) upon at least four Business Days' irrevocable notice to the Administrative
Agent, to prepay the affected Loan, in whole or in part, subject to subsections
4.4(k) and 4.12, without premium or penalty. In the case of the substitution of
a Lender, the applicable Borrower, the Administrative Agent, the affected
Lender, and any substitute Lender shall execute and deliver an appropriately
completed Assignment and Acceptance pursuant to subsection 11.6(c) to effect the
assignment of rights to, and the assumption of obligations by, the substitute
Lender; provided that any fees required to be paid pursuant to subsection
11.6(e) in connection with such assignment shall be paid by such Borrower. In
the case of a prepayment of an affected Loan, the amount specified in the notice
shall be due and payable on the date specified therein, together with any
accrued interest to such date on the amount prepaid. In the case of each of the
substitution of a Lender and of the prepayment of an affected Loan, the
applicable Borrower shall first pay the affected Lender any additional amounts
owing under subsections 4.10 and 4.11 (as well as any commitment fees and other
amounts then due and owing to such Lender) prior to such substitution or
prepayment.

            (e) If the Administrative Agent or any Lender receives a refund in
respect of taxes for which any of the Borrowers has made additional payments
pursuant to subsection 4.10(a) or 4.11(a), the Administrative Agent or such
Lender, as the case may be, shall promptly pay such refund (together with any
interest with respect thereto received from the relevant taxing authority) to
such Borrower, provided, however, that such Borrower agrees promptly to return
such refund (together with any interest with respect thereto due to the relevant
taxing authority) (free of all Non-Excluded Taxes) to the Administrative Agent
or the applicable Lender, as the case may be, upon receipt of a notice that such
refund is required to be repaid to the relevant taxing authority.

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                                                                              59

            (f) The obligations of a Lender or Participant under this subsection
4.13 shall survive the termination of this Agreement and the payment of the
Loans and all amounts payable hereunder.

            4.14 Controls on Prepayment if Aggregate Outstanding Revolving
Credit Exceeds Aggregate Revolving Credit Commitments. (a) The Parent Borrower
will implement and maintain internal controls to monitor the borrowings and
repayments of Loans by the Borrowers and the issuance of and drawings under
Letters of Credit, with the object of preventing any request for an Extension of
Credit that would result in the Aggregate Outstanding Revolving Credit with
respect to all of the Revolving Credit Lenders (including the Swing Line Lender)
being in excess of the aggregate Revolving Credit Commitments then in effect and
of promptly identifying any circumstance where, by reason of changes in exchange
rates, the Aggregate Outstanding Revolving Credit with respect to all of the
Revolving Credit Lenders (including the Swing Line Lender) exceeds the aggregate
Revolving Credit Commitments then in effect. In the event that at any time the
Parent Borrower determines that the Aggregate Outstanding Revolving Credit with
respect to all of the Revolving Credit Lenders (including the Swing Line Lender)
exceeds the aggregate Revolving Credit Commitments then in effect by more than
5%, the Parent Borrower will, as soon as practicable but in any event within
five Business Days of making such determination, first, make such repayments or
prepayments of Loans (together with interest accrued to the date of such
repayment or prepayment), second, pay any Reimbursement Obligations then
outstanding and, third, cash collateralize any outstanding L/C Obligations on
terms reasonably satisfactory to the Administrative Agent, as shall be necessary
to cause the Aggregate Outstanding Revolving Credit with respect to all of the
Revolving Credit Lenders (including the Swing Line Lender) to no longer exceed
the aggregate Revolving Credit Commitments then in effect. If any such repayment
or prepayment of a Eurocurrency Loan pursuant to this subsection occurs on a day
which is not the last day of the then current Interest Period with respect
thereto, the Parent Borrower shall pay to the Revolving Credit Lenders such
amounts, if any, as may be required pursuant to subsection 4.12.

            (b) The Administrative Agent will calculate the Aggregate
Outstanding Revolving Credit with respect to all of the Revolving Credit Lenders
(including the Swing Line Lender) from time to time, and in any event not less
frequently than once during each calendar week. In making such calculations, the
Administrative Agent will rely on the information most recently received by it
from the Swing Line Lender in respect of outstanding Swing Line Loans and from
the Issuing Lender in respect of outstanding L/C Obligations.

            (c) In the event that on any date the Administrative Agent
calculates that the Aggregate Outstanding Revolving Credit with respect to all
of the Revolving Credit Lenders (including the Swing Line Lender) exceeds the
aggregate Revolving Credit Commitments then in effect by more than 5%, the
Administrative Agent will give notice to such effect to the Parent Borrower and
the Lenders. Following receipt of any such notice, the Parent Borrower will, as
soon as practicable but in any event within five Business Days of receipt of
such notice, first, make such repayments or prepayments of Loans (together with
interest accrued to the date of such repayment or prepayment), second, pay any
Reimbursement Obligations then outstanding and, third, cash collateralize any
outstanding L/C Obligations on terms reasonably satisfactory to the
Administrative Agent as shall be necessary to cause the Aggregate Outstanding
Revolving Credit with respect to all of the Revolving Credit Lenders (including
the Swing Line Lender) to no longer exceed the aggregate Revolving Credit
Commitments then in effect. If any

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                                                                              60

such repayment or prepayment of a Eurocurrency Loan pursuant to this subsection
occurs on a day which is not the last day of the then current Interest Period
with respect thereto, the Parent Borrower shall pay to the Revolving Credit
Lenders such amounts, if any, as may be required pursuant to subsection 4.12.

                    SECTION 5. REPRESENTATIONS AND WARRANTIES

            To induce the Administrative Agent and each Lender to make the
Extensions of Credit requested to be made by it on the Effective Date and on
each Borrowing Date thereafter, the Parent Borrower hereby represents and
warrants, on the Effective Date (both before and after giving effect to the
Acquisition), and on every Borrowing Date thereafter, to the Administrative
Agent and each Lender that:

            5.1 Financial Condition. (a) The audited consolidated balance sheets
of the Parent Borrower and its consolidated Subsidiaries as of December 28,
1996, December 27, 1997 and December 26, 1998 and the audited consolidated
statements of income and of cash flows for the fiscal years ended on such dates
have heretofore been furnished to each Lender. Such financial statements
(including the notes thereto) (i) have been audited by KPMG Peat Marwick LLP in
the case of the financial statements as of December 28, 1996 and December 27,
1997 and by PricewaterhouseCoopers LLP in the case of the financial statements
as of December 26, 1998, (ii) have been prepared in accordance with GAAP
consistently applied throughout the periods covered thereby and (iii) (on the
basis disclosed in the footnotes to such financial statements) present fairly,
in all material respects, the consolidated financial condition, results of
operations and cash flows of the Parent Borrower and its consolidated
Subsidiaries as of such dates and for such periods. The unaudited interim
consolidated balance sheets of the Parent Borrower and its consolidated
Subsidiaries as at the end of, and the related unaudited interim consolidated
statements of income and of cash flows for, each fiscal month ended after
December 26, 1998 and prior to the Effective Date have heretofore been furnished
to each Lender. During the period from December 26, 1998 to and including the
Effective Date, there has been no sale, transfer or other disposition by the
Parent Borrower or its Subsidiaries of any material part of the business or
property of the Parent Borrower and its consolidated Subsidiaries, taken as a
whole, and, except as provided in the Acquisition Agreement, no purchase or
other acquisition by any of them of any business or property (including any
Capital Stock of any other Person) material in relation to the consolidated
financial condition of the Parent Borrower and its consolidated Subsidiaries,
taken as a whole, in each case, which is not reflected in the foregoing
financial statements or in the notes thereto and has not otherwise been
disclosed in writing to the Lenders on or prior to the Effective Date.

            (b) The audited combined balance sheets of the Acquired Business as
of September 30, 1996, September 30, 1997 and September 30, 1998 and the audited
combined statements of income and of cash flows for the fiscal years ended on
such dates have heretofore been furnished to each Lender. Such financial
statements (including the notes thereto) (i) have been audited by Ernst & Young,
(ii) have been prepared in accordance with U.K. GAAP consistently applied
throughout the periods covered thereby, (iii) set forth at Note 22 an
explanation of the significant differences between U.K. GAAP and U.S. GAAP and
(iv) (on the basis disclosed in the footnotes to such financial statements)
present fairly, in all material respects, the combined financial condition,
results of operations and cash flows of the

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                                                                              61

Acquired Business as of such dates and for such periods. The unaudited interim
combined balance sheets of the Acquired Business as at the end of, and the
related unaudited interim combined statements of income and of cash flows for,
the six-month period ended March 31, 1999 and for the nine-month period ended
June 30, 1999 have heretofore been furnished to each Lender. During the period
from September 30, 1998 to and including the Effective Date, except as provided
in the Acquisition Agreement, there has been no sale, transfer or other
disposition by the Acquired Business of any material part of the business or
property of the Acquired Business and no purchase or other acquisition by the
Acquired Business of any business or property (including any Capital Stock of
any other Person) material in relation to the combined financial condition of
the Acquired Business, in each case, which is not reflected in the foregoing
financial statements or in the notes thereto and has not otherwise been
disclosed in writing to the Lenders on or prior to the Effective Date.

            (c) The pro forma balance sheet and statements of income and of cash
flows of the Parent Borrower and its consolidated Subsidiaries (the "Pro Forma
Financial Statements"), copies of which have heretofore been furnished to each
Lender, are the balance sheet and statements of income and of cash flows of the
Parent Borrower and its consolidated Subsidiaries for the twelve-month period
ended June 30, 1999 (the "Pro Forma Date"), adjusted to give effect (as if such
events had occurred on such date) to (i) the consummation on the Effective Date
of the Acquisition (and in any event excluding any pre-closing or post-closing
adjustments in respect thereof, including any purchase price adjustments, and
the final allocation of the purchase price therefor), (ii) the making of the
Loans to be made on the Effective Date in an aggregate principal amount of not
more than $390,000,000, (iii) the refinancing of certain existing Indebtedness
of the Parent Borrower, including, without limitation, Indebtedness outstanding
under the Existing Credit Agreement, and (iv) the payment of estimated fees,
expenses, financing costs and settlement of intercompany accounts related to the
transactions contemplated hereby and thereby. The Pro Forma Financial Statements
were prepared in good faith on the basis of reasonable estimates (it being
understood that there has been no allocation of the purchase price for the
Acquisition).

            5.2 No Change; Solvent. Since March 31, 1999, (a) there has been no
event, occurrence, fact or change (including any event, occurrence, fact,
condition or change resulting from economic recession, war or other major global
turmoil) that, individually or in the aggregate, is or would reasonably be
expected to be materially adverse to the business, operations, assets,
liabilities or results of operations of the Parent Borrower and its Subsidiaries
(after giving effect to the Acquisition) taken as a whole (a "Material Adverse
Change"), provided, however, that any adverse change in the U.S. or global
financial or capital markets shall not alone constitute a Material Adverse
Change and (b) except as permitted under this Agreement or (at any time prior to
the consummation of the Acquisition on the Effective Date) the Transaction
Documents, and except for dividends or other distributions by the Acquired
Business prior to the execution and delivery of the Acquisition Agreement, no
dividends or other distributions have been declared, paid or made upon the
Capital Stock of Holding, the Parent Borrower or the Acquired Business nor has
any of the Capital Stock of Holding, the Parent Borrower or the Acquired
Business been redeemed, retired, purchased or otherwise acquired for value by
Holding, the Parent Borrower or the Acquired Business or any of their respective
Subsidiaries. As of the Effective Date, after giving effect to (i) the
consummation of the Acquisition, (ii) the making of Loans to be made on the
Effective Date in an aggregate principal amount of not more than $390,000,000
and (iii) the payment of estimated fees, expenses and financing costs related to
the

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                                                                              62

transactions contemplated hereby and thereby, each of Holding, the Parent
Borrower and the Acquired Business is Solvent.

            5.3 Corporate Existence; Compliance with Law. Each of the Loan
Parties (a) is duly organized, validly existing and in good standing under the
laws of the jurisdiction of its incorporation or formation, (b) has the
corporate power and authority, and the legal right, to own and operate its
property, to lease the property it operates as lessee and to conduct the
business in which it is currently engaged, except to the extent that the failure
to have such legal right would not be reasonably expected to have a Material
Adverse Effect, (c) is duly qualified as a foreign corporation or limited
liability company and in good standing under the laws of each jurisdiction where
its ownership, lease or operation of property or the conduct of its business
requires such qualification, other than in such jurisdictions where the failure
to be so qualified and in good standing would not be reasonably expected to have
a Material Adverse Effect, and (d) is in compliance with all Requirements of
Law, except to the extent that the failure to comply therewith would not, in the
aggregate, be reasonably expected to have a Material Adverse Effect.

            5.4 Corporate Power; Authorization; Enforceable Obligations. Each
Loan Party has the corporate power and authority, and the legal right, to make,
deliver and perform the Loan Documents to which it is a party and, in the case
of each of the Borrowers, to obtain Extensions of Credit hereunder, and each
such Loan Party has taken all necessary corporate action to authorize the
execution, delivery and performance of the Loan Documents to which it is a party
and, in the case of each of the Borrowers, to authorize the Extensions of Credit
on the terms and conditions of this Agreement, any Notes and the Applications.
No consent or authorization of, filing with, notice to or other similar act by
or in respect of, any Governmental Authority or any other Person is required to
be obtained or made by or on behalf of any Loan Party in connection with the
execution, delivery, performance, validity or enforceability of the Loan
Documents to which it is a party or, in the case of each of the Borrowers, with
the Extensions of Credit hereunder, except for (i) consents, authorizations,
notices and filings described in Schedule 5.4, all of which have been obtained
or made, (ii) filings to perfect the Liens created by the Security Documents,
(iii) filings pursuant to the Assignment of Claims Act of 1940, as amended (31
U.S.C. ss.3727 et seq.) in respect of Accounts and contracts of the Parent
Borrower and its Subsidiaries, the Obligor on which is the United States of
America or any department, agency or instrumentality thereof and (iv) consents,
authorizations, notices and filings which the failure to obtain or make would
not reasonably be expected to have a Material Adverse Effect. This Agreement has
been duly executed and delivered by each of the Borrowers, and each other Loan
Document to which any Loan Party is a party, has been, or will be duly executed
and delivered on behalf of such Loan Party. This Agreement constitutes a legal,
valid and binding obligation of each of the Borrowers, and each other Loan
Document to which any Loan Party is a party as executed and delivered does
constitute, or when executed and delivered, will constitute, a legal, valid and
binding obligation of such Loan Party, enforceable against such Loan Party in
accordance with its terms, except as enforceability may be limited by applicable
bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the
enforcement of creditors' rights generally and by general equitable principles
(whether enforcement is sought by proceedings in equity or at law).

            5.5 No Legal Bar. Except as previously disclosed in writing to the
Lenders on or prior to the Effective Date, the execution, delivery and
performance of the Loan Documents by the Loan

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                                                                              63

Parties, the Extensions of Credit hereunder and the use of the proceeds thereof
(a) will not violate any Requirement of Law or Contractual Obligation of any
Loan Party in any respect that would reasonably be expected to have a Material
Adverse Effect and (b) will not result in, or require, the creation or
imposition of any Lien (other than the Liens created by the Security Documents)
on any of its or their respective properties or revenues pursuant to any such
Requirement of Law or Contractual Obligation.

            5.6 No Material Litigation. No litigation, investigation or
proceeding of or before any arbitrator or Governmental Authority is pending or,
to the knowledge of the Parent Borrower, threatened by or against Holding or any
of its Subsidiaries or against any of its or their respective properties or
revenues, which is not subject to indemnification by the Seller pursuant to the
Acquisition Agreement, and (a) is so pending or threatened on or prior to the
Effective Date and relates to any of the Loan Documents or any of the
transactions contemplated hereby or thereby or (b) which would be reasonably
expected to have a Material Adverse Effect.

            5.7 No Default. Neither Holding, the Parent Borrower nor any of its
Subsidiaries is in default under or with respect to any of its Contractual
Obligations in any respect which would be reasonably expected to have a Material
Adverse Effect. No Default or Event of Default has occurred and is continuing.

            5.8 Ownership of Property; Liens. Each of Holding, the Parent
Borrower and its Subsidiaries has good record and marketable title in fee simple
to, or a valid leasehold interest in, all its material real property, and good
title to, or a valid leasehold interest in, all its other material property, and
none of such property is subject to any Lien, except for Liens permitted by
subsection 8.3.

            5.9 Intellectual Property. Each of the Parent Borrower and each of
its Subsidiaries owns, or has the legal right to use, all United States patents,
patent applications, trademarks, trademark applications, tradenames, service
marks, copyrights, technology, know-how and processes necessary for each of them
to conduct its business as currently conducted or as proposed to be conducted
immediately following the Effective Date (the "Intellectual Property") except
for those the failure to own or have such legal right to use would not be
reasonably expected to have a Material Adverse Effect. No claim has been
asserted and is pending by any Person challenging or questioning the use of any
such Intellectual Property or the validity or effectiveness of any such
Intellectual Property, nor does the Parent Borrower know of any such claim, and,
to the knowledge of the Parent Borrower, the use of such Intellectual Property
by the Parent Borrower and its Subsidiaries does not infringe on the rights of
any Person, except for such claims and infringements that, in the aggregate,
would not be reasonably expected to have a Material Adverse Effect.

            5.10 No Burdensome Restrictions. Except as previously disclosed in
writing to the Lenders on or prior to the Effective Date, no Requirement of Law
or Contractual Obligation of Holding, the Parent Borrower or any of its
Subsidiaries would be reasonably expected to have a Material Adverse Effect.

            5.11 Taxes. To the knowledge of the Parent Borrower: each of
Holding, the Parent Borrower and its Subsidiaries has filed or caused to be
filed all United States federal income tax returns and all other material tax
returns which are required to be filed and has paid (a) all taxes shown to be
due and payable on said returns and (b) all taxes shown to be due and payable on
any assessments of

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                                                                              64

which it has received notice made against it or any of its property and all
other taxes, fees or other charges imposed on it or any of its property by any
Governmental Authority (other than any (i) taxes, fees or other charges with
respect to which the failure to pay, in the aggregate, would not have a Material
Adverse Effect or (ii) taxes, fees or other charges the amount or validity of
which are currently being contested in good faith by appropriate proceedings
diligently conducted and with respect to which reserves in conformity with GAAP
have been provided on the books of Holding, the Parent Borrower or its
Subsidiaries, as the case may be); and no tax Lien has been filed, and no claim
is being asserted, with respect to any such tax, fee or other charge. The
preceding sentence shall not apply to any taxes, fees or other charges which are
subject to indemnification by the Seller under the Acquisition Agreement and
with respect to which the Parent Borrower has disclosed to the Administrative
Agent the failure to file or pay, the filing of a tax Lien, or the assertion of
a claim.

            5.12 Federal Regulations. No part of the proceeds of any Loans or
any Letter of Credit will be used for "purchasing" or "carrying" any "margin
stock" within the respective meanings of each of the quoted terms under
Regulation U or for any purpose which violates the provisions of the Regulations
of the Board, including, without limitation, Regulation T, Regulation U or
Regulation X of the Board. If requested by any Lender or the Administrative
Agent, the Parent Borrower will furnish to the Administrative Agent and each
Lender a statement to the foregoing effect in conformity with the requirements
of FR Form G-3 or FR Form U-1 or such other similar form referred to in
Regulation T, Regulation U or Regulation X of the Board, as the case may be.

            5.13 ERISA. During the five year period prior to each date as of
which this representation is made, or deemed made, with respect to any Plan (or,
with respect to (vi) or (viii) below, as of the date such representation is made
or deemed made), none of the following events or conditions, either individually
or in the aggregate, has resulted or is reasonably likely to result in a
liability to Holding, the Parent Borrower or any of its Subsidiaries which would
be reasonably expected to have a Material Adverse Effect: (i) a Reportable
Event; (ii) an "accumulated funding deficiency" (within the meaning of Section
412 of the Code or Section 302 of ERISA); (iii) any material noncompliance with
the applicable provisions of ERISA or the Code; (iv) a termination of a Single
Employer Plan (other than a standard termination pursuant to Section 4041(b) of
ERISA); (v) a Lien in favor of the PBGC or a Plan; (vi) Underfunding with
respect to any Single Employer Plan; (vii) a complete or partial withdrawal from
any Multiemployer Plan by Holding, the Parent Borrower or any Commonly
Controlled Entity; (viii) any liability of Holding, the Parent Borrower or any
Commonly Controlled Entity under ERISA if Holding, the Parent Borrower or any
such Commonly Controlled Entity were to withdraw completely from all
Multiemployer Plans as of the annual valuation date most closely preceding the
date on which this representation is made or deemed made; (ix) the
Reorganization or Insolvency of any Multiemployer Plan; and (x) an event or
condition with respect to which Holding, the Parent Borrower or any Commonly
Controlled Entity has incurred or could incur any liability in respect of a
Former Plan.

            5.14 Collateral. Except with regard to (i) Liens on equipment
constituting fixtures, (ii) any reserved rights of the United States government
as required under law, (iii) Liens upon Patents, Patent Licenses, Trademarks and
Trademark Licenses to the extent that (a) such Liens cannot be perfected by the
filing of financing statements under the Uniform Commercial Code or by the
filing and acceptance thereof in the United States Patent and Trademark Office
or (b) such Patents, Patent

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                                                                              65

Licenses, Trademarks and Trademark Licenses are not, individually or in the
aggregate, material to the business of the Parent Borrower and its Subsidiaries
taken as a whole, (iv) Liens on uncertificated securities, (v) Liens on
Collateral the perfection of which requires filings in or other actions under
the laws of jurisdictions outside of the United States of America, any State,
territory or dependency thereof or the District of Columbia (except to the
extent that such filings or other actions have been made or taken), (vi) Liens
on contracts or Accounts on which the United States of America or any
department, agency, or instrumentality thereof is the Obligor, (vii) Liens on
proceeds of Accounts, until transferred to or deposited in the Collateral
Proceeds Account, and (viii) the claims of creditors of Persons receiving goods
included as Collateral for "sale or return" within the meaning of Section 2-326
of the Uniform Commercial Code of the applicable jurisdiction, upon filing of
the financing statements delivered to the Administrative Agent by Holding, the
Parent Borrower and its Subsidiaries on the Effective Date in the jurisdictions
listed on Schedule 5.14 (which financing statements are in proper form for
filing in such jurisdictions) and the recording of the Mortgages (and the
recording of the Guarantee and Collateral Agreement, and the making of filings
in any other jurisdiction as may be necessary under any Requirement of Law after
the Effective Date) and the delivery to, and continuing possession by, the
Administrative Agent of all Instruments, Chattel Paper and Documents a security
interest in which is perfected by possession, the Liens created pursuant to each
Security Document, when executed and delivered, will constitute valid Liens on
and, to the extent provided therein, perfected security interests in the
collateral referred to in such Security Document (but as to the Copyrights and
the Copyright Licenses and accounts arising therefrom, only to the extent the
Uniform Commercial Code of the relevant jurisdiction, from time to time in
effect, is applicable) in favor of the Administrative Agent for the ratable
benefit of the Lenders, which Liens will be prior to all other Liens of all
other Persons, except for Liens permitted pursuant to the Loan Documents
(including, without limitation, those permitted to exist pursuant to subsection
8.3), and which Liens are enforceable as such as against all other Persons
(except, with respect to goods only, buyers in the ordinary course of business
to the extent provided in Section 9-307(1) of the Uniform Commercial Code as
from time to time in effect in the applicable jurisdiction), except as
enforceability may be limited by applicable bankruptcy, insolvency,
reorganization, moratorium or similar laws affecting the enforcement of
creditors' rights generally and by general equitable principles (whether
enforcement is sought by proceedings in equity or at law) and an implied
covenant of good faith and fair dealing. Notwithstanding any other provision of
this Agreement, capitalized terms which are used in this subsection 5.14 and not
defined in this Agreement are so used as defined in the applicable Security
Document.

            5.15 Investment Company Act; Other Regulations. None of the
Borrowers is an "investment company", or a company "controlled" by an
"investment company", within the meaning of the Investment Company Act. None of
the Borrowers is subject to regulation under any federal or state statute or
regulation which limits its ability to incur Indebtedness as contemplated
hereby.

            5.16 Subsidiaries. Schedule 5.16 sets forth all the Subsidiaries of
Holding at the Effective Date, the jurisdiction of their incorporation and the
direct or indirect ownership interest of Holding therein.

            5.17 Purpose of Loans. The proceeds of the Term Loans, and not more
than $65,000,000 of the Revolving Credit Loans, shall be used by the Parent
Borrower (i) to finance a

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                                                                              66

portion of the purchase price of the Acquisition, (ii) to refinance certain
existing Indebtedness of the Parent Borrower, including, without limitation,
Indebtedness outstanding under the Existing Credit Agreement, and (iii) to pay
certain transaction fees and expenses related to the Acquisition (such
transaction fees and expenses not to exceed $30,000,000). The proceeds of the
Revolving Credit Loans, the Swing Line Loans and the Letters of Credit shall be
used by the Borrowers to finance the working capital and business requirements
of the Parent Borrower and its Subsidiaries.

            5.18 Environmental Matters. Other than exceptions to any of the
following that would not, individually or in the aggregate, reasonably be
expected to result in a Material Adverse Effect:

            (a) To the knowledge of the Parent Borrower, the facilities and
properties owned, leased or operated by Holding, the Parent Borrower or any of
its Subsidiaries (the "Properties") and all operations at the Properties are in
compliance with all applicable Environmental Laws, and there is no violation of
any Environmental Law with respect to the Properties or the business operated by
Holding, the Parent Borrower or any of its Subsidiaries (the "Business"), and
there are no conditions relating to the Business or Properties that would be
reasonably likely to give rise to liability under any applicable Environmental
Law.

            (b) To the knowledge of the Parent Borrower, the Properties do not
contain, and have not previously contained, any Materials of Environmental
Concern at, on or under the Properties in amounts or concentrations that
constitute or constituted a violation of, or would reasonably give rise to
liability under, Environmental Laws.

            (c) Neither Holding, the Parent Borrower nor any of its Subsidiaries
has received any written or verbal notice of, or inquiry from any Governmental
Authority regarding, any violation, alleged violation, non-compliance, liability
or potential liability regarding environmental matters or compliance with
Environmental Laws with regard to any of the Properties or the Business, nor
does the Parent Borrower have knowledge or reason to believe that any such
notice will be received or is being threatened.

            (d) To the knowledge of the Parent Borrower, Materials of
Environmental Concern have not been transported or disposed of from the
Properties, or generated, treated, stored or disposed of at, on or under any of
the Properties or any other location, in violation of, or in a manner that would
be reasonably likely to give rise to liability of Holding, the Parent Borrower
or any of its Subsidiaries under, any applicable Environmental Law, or
materially interfere with the continued operations of Holding, the Parent
Borrower or any of its Subsidiaries or materially impair the fair saleable value
of any of the Properties.

            (e) No judicial proceeding or governmental or administrative action
is pending or, to the knowledge of the Parent Borrower, threatened, under any
Environmental Law to which Holding, the Parent Borrower or any of its
Subsidiaries is or will be named as a party, nor are there any consent decrees
or other decrees, consent orders, administrative orders or other orders, or
other administrative or judicial requirements outstanding under any
Environmental Law with respect to Holding, the Parent Borrower or any of its
Subsidiaries, the Properties or the Business.

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                                                                              67

            (f) There has been no release or, to the knowledge of the Parent
Borrower, threat of release of Materials of Environmental Concern at or from the
Properties, or arising from or related to the operations (including, without
limitation, disposal) of Holding, the Parent Borrower or any of its Subsidiaries
in connection with the Properties or otherwise in connection with the Business,
in violation of or in amounts or in a manner that would be reasonably likely to
give rise to liability under Environmental Laws.

            (g) Neither Holding, the Parent Borrower nor any of its Subsidiaries
has assumed or retained, by contract or, to its knowledge, operation of law, any
known or suspected liabilities of any kind, fixed or contingent, as a result of
any violation or breach of applicable Environmental Law or with respect to any
contamination by any Materials of Environmental Concern.

            5.19 No Material Misstatements. The written information, reports,
financial statements, exhibits and schedules furnished by or on behalf of
Holding, the Parent Borrower or the Acquired Business to the Administrative
Agent, the Other Representatives and the Lenders in connection with the
negotiation of any Loan Document or included therein or delivered pursuant
thereto, taken as a whole, did not contain as of the Effective Date any material
misstatement of fact and did not omit to state as of the Effective Date any
material fact necessary to make the statements therein, in the light of the
circumstances under which they were made, not materially misleading in their
presentation of the Acquisition, or of Holding, the Parent Borrower and its
Subsidiaries taken as a whole. It is understood that no representation or
warranty is made concerning the forecasts, estimates, pro forma information,
projections and statements as to anticipated future performance or conditions,
and the assumptions on which they were based, contained in any such information,
reports, financial statements, exhibits or schedules, except that as of the date
such forecasts, estimates, pro forma information, projections and statements
were generated, (i) such forecasts, estimates, pro forma information,
projections and statements were based on the good faith assumptions of the
management of the Parent Borrower and (ii) such assumptions were believed by
such management to be reasonable. Such forecasts, estimates, pro forma
information and statements, and the assumptions on which they were based, may or
may not prove to be correct.

            5.20 Delivery of the Transaction Documents. The Administrative Agent
has received for itself and for each Lender a complete photocopy of each of the
Transaction Documents (including all exhibits, schedules and disclosure letters
referred to therein or delivered pursuant thereto, if any) and all amendments
thereto, waivers relating thereto and other side letters or agreements affecting
the terms thereof in any material respect.

            5.21 Representations and Warranties Contained in the Transaction
Documents. Each of the Transaction Documents will have been duly executed and
delivered, by each of the Loan Parties which is a party thereto prior to the
Effective Date and, to the knowledge of the Parent Borrower, all other parties
thereto, and is in full force and effect on the Effective Date. As of the
Effective Date, the representations and warranties of the Seller, Holding and
the Parent Borrower and, to the knowledge of the Parent Borrower, any of the
other parties thereto contained in any of the Transaction Documents (after
giving effect to any amendments, supplements, waivers or other modifications of
any of the Transaction Documents prior to the Effective Date in accordance with
this Agreement) are true and

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                                                                              68

correct in all material respects except as otherwise disclosed to the
Administrative Agent in writing prior to the Effective Date.

            5.22 Labor Matters. There are no strikes pending or, to the
knowledge of the Parent Borrower, reasonably expected to be commenced against
the Parent Borrower or any of its Subsidiaries which, individually or in the
aggregate, would reasonably be expected to have a Material Adverse Effect. The
hours worked and payments made to employees of the Parent Borrower and each of
its Subsidiaries have not been in violation of any applicable laws, rules or
regulations, except where such violations would not reasonably be expected to
have a Material Adverse Effect. The consummation of the Acquisition will not
give rise to a right of termination or right of renegotiation on the part of any
union under any collective bargaining agreement to which the Parent Borrower or
any of its Subsidiaries (or any predecessor) is a party or by which the Parent
Borrower or any of its Subsidiaries (or any predecessor) is bound.

            5.23 Senior Indebtedness. The Loans, L/C Obligations and all other
obligations hereunder and under the other Loan Documents constitute "Designated
Senior Indebtedness" under and as defined in each of the Indentures. The
obligations of each Subsidiary that is a Guarantor under the Guarantee and
Collateral Agreement constitute "Guarantor Senior Indebtedness" of such
Subsidiary Guarantor under and as defined in the Senior Subordinated Note
Indenture.

            5.24 Year 2000. Any reprogramming required to permit the proper
functioning (but only to the extent that such proper functioning would otherwise
be impaired by the occurrence of the year 2000), in and following the year 2000,
of the Parent Borrower's and its Subsidiaries' internally developed business
software which is critical to the Parent Borrower and its Subsidiaries taken as
a whole has been completed. Based on the Parent Borrower's estimates as of the
Effective Date, the cost to the Parent Borrower and its Subsidiaries of such
reprogramming, to the extent not reflected or reserved for on the consolidated
balance sheet of the Parent Borrower and its Subsidiaries, would not reasonably
be expected to have a Material Adverse Effect.

                         SECTION 6. CONDITIONS PRECEDENT

            6.1 Conditions to Initial Extension of Credit. This Agreement,
including, without limitation, the agreement of each Lender to make the initial
Extension of Credit requested to be made by it, shall become effective on the
date on which the following conditions precedent shall have been satisfied or
waived:

            (a) Loan Documents. The Administrative Agent shall have received the
      following Loan Documents (each of which shall be satisfactory in form and
      substance to the Administrative Agent), executed and delivered as required
      below, with a copy for each applicable Lender: (i) this Agreement,
      executed and delivered by a duly authorized officer of the Parent Borrower
      and the Foreign Subsidiary Borrowers listed on Schedule IV, (ii) the
      Guarantee and Collateral Agreement, executed and delivered by a duly
      authorized officer of each of Holding, the Parent Borrower, the Foreign
      Subsidiary Borrowers listed on Schedule IV and the Domestic Subsidiaries
      of the Parent Borrower listed on Schedule V, (iii) each of the Mortgages,
      executed

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                                                                              69

      and delivered by a duly authorized officer of the Loan Party thereto and
      (iv) any Notes requested by the Lenders in accordance with subsections
      2.2, 2.7 and 2.8, executed by a duly authorized officer of the applicable
      Borrower.

            (b) Acquisition Agreement; Consummation of the Acquisition. The
      Acquisition Agreement shall not have been amended, supplemented, waived or
      otherwise modified in any material respect since the date thereof, except
      as may have been consented to in writing by the Administrative Agent and
      the Syndication Agent, and the Administrative Agent shall have received a
      certificate of a duly authorized officer of Holding dated the Effective
      Date, which certificate shall be in form and substance reasonably
      satisfactory to the Administrative Agent, to such effect. The Acquisition
      shall have been consummated substantially in accordance with the terms and
      conditions of the Acquisition Agreement for an aggregate purchase price
      not exceeding (i) $400,000,000 in cash, before giving effect to all
      adjustments thereof in accordance with the terms and conditions of the
      Acquisition Agreement, (ii) 24,500 shares of Holding Preferred Stock
      having an initial liquidation preference of $24,500,000, (iii) 174,961
      shares of common stock of Holding, representing approximately 20% of
      Holding's issued and outstanding common stock (giving effect to vested
      options as of September 14, 1999), and (iv) a warrant to purchase 87,480
      shares of common stock of Holding at an exercise price of $400 per share,
      and the Administrative Agent shall have received from the Parent Borrower
      a list, prepared in good faith in a commercially reasonable manner, of the
      estimated transaction expenses incurred in connection with the Acquisition
      and the financing thereof, which estimate shall not exceed $30,000,000 in
      the aggregate. None of the conditions to the respective obligations of
      Holding and the Parent Borrower to consummate the Acquisition and the
      other transactions contemplated by the Acquisition Agreement shall have
      been waived by Holding or the Parent Borrower in any material respect
      without the prior consent of the Administrative Agent.

            (c) Capitalization and Structure of Holding and its Subsidiaries.
      Since the date of the Acquisition Agreement, there shall have been no
      material change in the corporate and capital structure of Holding, the
      Acquired Business and the Parent Borrower and each of its Subsidiaries
      from that contemplated following the Acquisition. All documents,
      instruments and other matters relating to the Holding Preferred Stock, the
      Holding Loan, the Holding Senior Discount Notes, any Holding Subordinated
      Exchange Debentures, the Senior Subordinated Notes and all other material
      Indebtedness of Holding and its Subsidiaries remaining outstanding after
      the Effective Date shall be reasonably satisfactory to the Lenders. The
      Administrative Agent shall have received true and correct copies of the
      Senior Subordinated Note Indenture, certified as to authenticity by the
      Parent Borrower, and true and correct copies of the Holding Loan
      Agreement, the Holding Senior Discount Note Indenture and the form of
      Holding Subordinated Exchange Debenture, certified as to authenticity by
      Holding. The Administrative Agent shall have received evidence, in form
      and substance reasonably satisfactory to it, that CD&R Fund V and other
      investors arranged by CD&R and reasonably satisfactory to the
      Administrative Agent and the Syndication Agent have committed to purchase
      by December 31, 1999 additional shares of common stock of Holding for a
      purchase price of $40,000,000.

            (d) Senior Subordinated Notes, Holding Senior Discount Notes and
      Holding Loan. The Administrative Agent shall have received evidence, in
      form and substance reasonably satisfactory

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                                                                              70

      to it, that (i) the Parent Borrower or its account shall have received
      gross cash proceeds of $150,000,000 from the issuance of Senior
      Subordinated Notes, (ii) Holding or its account shall have received gross
      cash proceeds of $35,000,000 from the issuance of Holding Senior Discount
      Notes, (iii) Holding or its account shall have received gross cash
      proceeds of $40,000,000 from borrowings under the Holding Loan Agreement
      and (iv) Holding shall have used the proceeds from the Holding Loan and
      the issuance of Holding Senior Discount Notes to make a $75,000,000
      investment in the common equity of the Parent Borrower. All documents
      (including, without limitation, the Senior Subordinated Note Indenture,
      the Holding Loan Agreement, the Holding Senior Discount Note Indenture and
      the Preferred Stock Certificate of Designation), instruments and other
      matters relating to the Holding Loan, the issuance of the Senior
      Subordinated Notes and the Holding Senior Discount Notes shall be
      reasonably satisfactory to the Administrative Agent and the Syndication
      Agent.

            (e) Termination of Existing Credit Agreement. The Administrative
      Agent shall have received evidence satisfactory to it that (i) the
      Existing Credit Agreement shall be simultaneously terminated, (ii) all
      amounts thereunder shall be simultaneously paid in full, (iii) all letters
      of credit (other than any Existing Letter of Credit) and other contingent
      obligations in connection with the Existing Credit Agreement shall have
      been terminated and (iv) arrangements satisfactory to the Administrative
      Agent shall have been made for the termination of Liens and security
      interests granted in connection therewith.

            (f) Financial Information. The Lenders shall have received copies of
      and shall be reasonably satisfied, in form and substance, with (i) the
      audited consolidated balance sheets and statements of income and of cash
      flows of the Parent Borrower and its consolidated Subsidiaries for the
      fiscal years ended and as at December 28, 1996, December 27, 1997 and
      December 26, 1998, in each case accompanied by a report of KPMG Peat
      Marwick LLP or PricewaterhouseCoopers LLP, as applicable, (ii) the audited
      combined balance sheets and statements of income and of cash flows of the
      Acquired Business for the fiscal years ended and as at September 30, 1996,
      September 30, 1997 and September 30, 1998, in each case accompanied by a
      report of Ernst & Young and setting forth at Note 22 an explanation of the
      significant differences between U.K. GAAP and U.S. GAAP, (iii) the
      unaudited consolidated balance sheets and statements of income and of cash
      flows of the Parent Borrower and its consolidated Subsidiaries as at the
      end of and for each fiscal month and quarterly period ended after December
      26, 1998 and prior to the Effective Date for which such unaudited
      financial statements are available, (iv) the unaudited combined balance
      sheets and statements of income and of cash flows of the Acquired Business
      for the six-month period ended March 31, 1999 and for the nine-month
      period ended June 30, 1999 and (v) the Pro Forma Financial Statements,
      together with a reconciliation thereof to the balance sheet and statements
      of income and of cash flows of the Parent Borrower and its consolidated
      Subsidiaries as at the Pro Forma Date.

            (g) Business Plan. The Lenders shall have received a reasonably
      detailed business plan of the Parent Borrower and its Subsidiaries for
      fiscal year 2000 in a form and level of detail reasonably satisfactory to
      the Lenders.

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                                                                              71

            (h) Consents, Licenses and Approvals. The Administrative Agent shall
      have received, with a copy for each Lender, a certificate of a Responsible
      Officer of the Parent Borrower stating that all consents, authorizations,
      notices and filings referred to in Schedule 5.4 are in full force and
      effect or have the status described therein, and the Administrative Agent
      shall have received evidence thereof reasonably satisfactory to it.

            (i) Lien Searches. The Administrative Agent shall have received the
      results of a recent search by a Person reasonably satisfactory to the
      Administrative Agent and its counsel, of the Uniform Commercial Code,
      judgment and tax lien filings which may have been filed with respect to
      personal property of Holding, the Parent Borrower, the Acquired Business
      and their respective Subsidiaries in any of the jurisdictions set forth in
      Schedule 5.14, and the results of such search shall not reveal any Liens
      other than Liens permitted by subsection 8.3 or that are otherwise
      reasonably satisfactory to the Administrative Agent and its counsel.

            (j) Legal Opinions. The Administrative Agent shall have received,
      with a copy for each Lender, the following executed legal opinions:

                  (i) the executed legal opinion of Debevoise & Plimpton,
            special counsel to the Parent Borrower and the other Loan Parties,
            substantially in the form of Exhibit G-1;

                  (ii) the executed legal opinions of special local counsel to
            the Parent Borrower and the other Loan Parties in the states of
            California, Indiana, Michigan and Montana, with respect to
            collateral security matters, each substantially in the form of
            Exhibit G-2;

                  (iii) the executed legal opinion of Ralph A. Ford, Esq.,
            Senior Vice President and General Counsel of the Parent Borrower,
            covering such other matters incident to the transactions
            contemplated by this Agreement as the Administrative Agent may
            reasonably require; and

                  (iv) the executed legal opinion of Robert J. Henry, Esq.,
            General Counsel of Allied Van Lines Inc., covering such other
            matters incident to the transactions contemplated by this Agreement
            as the Administrative Agent may reasonably require.

      In addition, the Administrative Agent shall have received, with a copy for
      each Lender, the legal opinions referred to in Sections 8.7 and 9.3 of the
      Acquisition Agreement and each such legal opinion shall state that the
      Administrative Agent and the Lenders are entitled to rely thereon as if
      such legal opinion were addressed to the Administrative Agent and the
      Lenders.

            (k) Environmental Assessment. The Administrative Agent shall have
      received a copy of the Phase I environmental assessment prepared pursuant
      to the Acquisition Agreement, all of the contents of which shall be
      reasonably satisfactory to the Lenders, together with a letter from the
      firm or firms preparing said assessments or audits permitting the
      Administrative Agent and each

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                                                                              72

      Lender to rely on the environmental assessments, audits or investigations
      as if addressed to and prepared for each of them.

            (l) Other Material Documentation. The Lenders shall be reasonably
      satisfied in all material respects with each of the other documents
      relating to the Acquisition and the transactions contemplated hereby and
      thereby, including, without limitation, each material Contractual
      Obligation and other material financing arrangement to which Holding, the
      Parent Borrower or any Subsidiary will be bound after the Effective Date.

            (m) Actions to Perfect Liens. The Administrative Agent shall have
      received evidence in form and substance reasonably satisfactory to it that
      all filings, recordings, registrations and other actions, including,
      without limitation, the filing of duly executed financing statements on
      form UCC-1 in each jurisdiction set forth on Schedule 5.14, necessary or,
      in the reasonable opinion of the Administrative Agent, desirable to
      perfect the Liens created by the Security Documents shall have been
      completed or shall be ready to be completed promptly following the
      Effective Date, and all agreements, statements and other documents
      relating thereto shall be in form and substance reasonably satisfactory to
      the Administrative Agent.

            (n) Pledged Securities; Stock Powers and Endorsements. The
      Administrative Agent shall have received the certificates and the
      promissory notes, if any, representing the Pledged Stock and Intercompany
      Notes under (and as defined in) the Guarantee and Collateral Agreement,
      together with an undated stock power for each stock certificate executed
      in blank by a duly authorized officer of the pledgor thereof and/or duly
      endorsed as required by the Guarantee and Collateral Agreement.

            (o) Surveys. The Administrative Agent shall have received, and the
      Title Insurance Company shall have received, maps or plats of an as-built
      survey of the sites of the owned real property covered by the Mortgages
      certified to the Administrative Agent and the Title Insurance Company in a
      manner reasonably satisfactory to them, dated a date reasonably
      satisfactory to the Administrative Agent and the Title Insurance Company
      by an independent professional licensed land surveyor reasonably
      satisfactory to the Administrative Agent and the Title Insurance Company,
      which maps or plats and the surveys on which they are based shall be made
      in accordance with the Minimum Standard Detail Requirements for Land Title
      Surveys jointly established and adopted by the American Land Title
      Association and the American Congress on Surveying and Mapping in 1992,
      and, without limiting the generality of the foregoing, there shall be
      surveyed and shown on such maps, plats or surveys the following: (i) the
      locations on such sites of all the buildings, structures and other
      improvements and the established building setback lines; (ii) the lines of
      streets abutting the sites and width thereof; (iii) all access and other
      easements appurtenant to the sites necessary to use the sites; (iv) all
      roadways, paths, driveways, easements, encroachments and overhanging
      projections and similar encumbrances affecting the sites, whether
      recorded, apparent from a physical inspection of the sites or otherwise
      known to the surveyor; (v) any encroachments on any adjoining property by
      the building structures and improvements on the sites; and (vi) if the
      site is described as being on a filed map, a legend relating the survey to
      said map.

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                                                                              73

            (p) Title Insurance Policy. The Administrative Agent shall have
      received in respect of each parcel of owned real property covered by a
      Mortgage a mortgagee's title policy (or policies) or marked up
      unconditional binder for such insurance dated the date of the recording of
      such Mortgage. Each such policy shall (i) be in an amount reasonably
      satisfactory to the Administrative Agent; (ii) insure that the Mortgage
      insured thereby creates a valid first Lien on such parcel free and clear
      of all defects and encumbrances, except those permitted by subsection 8.3
      and such as may be approved by the Administrative Agent; (iii) name the
      Administrative Agent for the benefit of the Lenders as the insured
      thereunder; (iv) be in the form of an ALTA Loan Policy; (v) contain such
      endorsements and affirmative coverage as the Administrative Agent may
      reasonably request and (vi) be issued by title companies reasonably
      satisfactory to the Administrative Agent (including any such title
      companies acting as co-insurers or reinsurers, at the option of the
      Administrative Agent). The Administrative Agent shall have received
      evidence reasonably satisfactory to it that all premiums in respect of
      each such policy, and all charges for mortgage recording tax, if any, have
      been paid. The Administrative Agent shall have also received a copy of all
      recorded documents referred to, or listed as exceptions to title in, the
      title policy or policies referred to in this subsection and a copy
      certified by such parties as the Administrative Agent may deem reasonably
      appropriate, of all other documents affecting the property covered by each
      Mortgage as shall have been reasonably requested by the Administrative
      Agent.

            (q) Fees. The Parent Borrower shall have paid to the Administrative
      Agent the fees to be received on the Effective Date referred to in
      subsection 4.5.

            (r) Borrowing Certificate. The Administrative Agent shall have
      received, with a copy for each Lender, a certificate of the Parent
      Borrower, dated the Effective Date, substantially in the form of Exhibit
      J, with appropriate insertions and attachments, reasonably satisfactory in
      form and substance to the Administrative Agent, executed by a Responsible
      Officer and the Secretary or any Assistant Secretary of the Parent
      Borrower.

            (s) Corporate Proceedings of the Loan Parties. The Administrative
      Agent shall have received, with a copy for each Lender, a copy of the
      resolutions, in form and substance reasonably satisfactory to the
      Administrative Agent, of the Board of Directors of each Loan Party
      authorizing, as applicable, (i) the execution, delivery and performance of
      this Agreement, any Notes and the other Loan Documents to which it is or
      will be a party, (ii) the Extensions of Credit contemplated hereunder and
      (iii) the granting by it of the Liens to be created pursuant to the
      Security Documents to which it will be a party, certified by the Secretary
      or an Assistant Secretary of such Person as of the Effective Date, which
      certificate shall be in form and substance reasonably satisfactory to the
      Administrative Agent and shall state that the resolutions thereby
      certified have not been amended, modified (except as any later such
      resolution may modify any earlier such resolution), revoked or rescinded
      and are in full force and effect.

            (t) Incumbency Certificates of the Loan Parties. The Administrative
      Agent shall have received, with a copy for each Lender, a certificate of
      each Loan Party, dated the Effective Date, as to the incumbency and
      signature of the officers of such Person executing any Loan

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                                                                              74

      Document, reasonably satisfactory in form and substance to the
      Administrative Agent, executed by a Responsible Officer and the Secretary
      or any Assistant Secretary of such Person.

            (u) Corporate Documents. The Administrative Agent shall have
      received, with a copy for each Lender, copies of the certificate of
      incorporation and by-laws of each Loan Party, certified as of the
      Effective Date as complete and correct copies thereof by the Secretary or
      an Assistant Secretary of such Loan Party.

            (v) Insurance. The Administrative Agent shall have received evidence
      in form and substance reasonably satisfactory to it (i) that the
      requirements of Section 5.2.2 of the Guarantee and Collateral Agreement
      and Section 5 of each Mortgage shall have been satisfied, together with
      certificates of insurance and other evidence of such insurance, if any,
      naming the Administrative Agent as an additional insured and/or loss payee
      and (ii) relating to the insurance program operated by the Parent
      Borrower.

            (w) No Material Change. Since March 31, 1999, there shall not have
      occurred a Material Adverse Change.

            (x) No Material Litigation. No litigation, investigation, injunction
      or restraining order shall be pending, entered or threatened that would
      reasonably be expected to have a Material Adverse Effect or a material
      adverse effect on the Acquired Business or the transactions contemplated
      hereby.

            (y) Acknowledgment and Consent. The Administrative Agent shall have
      received, with a copy for each Lender, an acknowledgment and consent,
      substantially in the form attached to the Guarantee and Collateral
      Agreement, executed and delivered by a duly authorized officer of each of
      NATIC and TransGuard.

The making of the initial Extensions of Credit by the Lenders hereunder shall
conclusively be deemed to constitute an acknowledgment by the Administrative
Agent and each Lender that each of the conditions precedent set forth in this
subsection 6.1 shall have been satisfied in accordance with its respective terms
or shall have been irrevocably waived by such Person.

            6.2 Conditions to Each Other Extension of Credit. The agreement of
each Lender to make any Extension of Credit requested to be made by it on any
date (including, without limitation, the initial Extension of Credit and each
Swing Line Loan) is subject to the satisfaction or waiver of the following
conditions precedent:

            (a) Representations and Warranties. Each of the representations and
      warranties made by any Loan Party pursuant to this Agreement or any other
      Loan Document (or in any amendment, modification or supplement hereto or
      thereto) to which it is a party, and each of the representations and
      warranties contained in any certificate furnished at any time by or on
      behalf of any Loan Party pursuant to this Agreement or any other Loan
      Document, shall, except to the extent that they relate to a particular
      date, be true and correct in all material respects on and as of such date
      as if made on and as of such date.

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                                                                              75

            (b) No Default. No Default or Event of Default shall have occurred
      and be continuing on such date or after giving effect to the Extensions of
      Credit requested to be made on such date.

            (c) Letter of Credit Application. With respect to the issuance of
      any Letter of Credit, the Issuing Lender shall have received an
      Application completed to its satisfaction, and such other certificates,
      documents and other papers and information as the Issuing Lender may
      reasonably request.

Each borrowing by and Letter of Credit issued on behalf of any Borrower
hereunder shall constitute a representation and warranty by the Parent Borrower
as of the date of such borrowing or such issuance that the conditions contained
in this subsection 6.2 have been satisfied.

            6.3 Additional Conditions Applicable to Foreign Subsidiary
Borrowers. The agreement of each Lender to make any Extension of Credit
requested to be made by it to any Foreign Subsidiary Borrower on any date
(including, without limitation, the initial Extension of Credit and each Swing
Line Loan, if requested to be made to any Foreign Subsidiary Borrower) is
subject to satisfaction or waiver of, in addition to the conditions precedent
set forth in subsections 6.1 (in the case of the initial Extension of Credit)
and 6.2, the following conditions precedent: (a) in the case of the making of
any Extension of Credit to any Foreign Subsidiary Borrower for the first time,
the delivery to the Administrative Agent, with a copy for each Lender, of the
executed legal opinion of counsel to such Foreign Subsidiary Borrower, as to the
matters set forth in Exhibit G-3 and otherwise in form and substance reasonably
satisfactory to the Administrative Agent, (b) the delivery to the Administrative
Agent of a certificate of the Parent Borrower, executed and delivered by a
Responsible Officer of the Parent Borrower, stating (i) that such Foreign
Subsidiary Borrower is a "Restricted Subsidiary" for all purposes of each of the
Indentures and (ii) that all of the Indebtedness in respect of such Extension of
Credit to be made to such Foreign Subsidiary Borrower will constitute each of
"Bank Indebtedness" and "Senior Indebtedness" for all purposes of each of the
Indentures and that none of such Indebtedness is incurred in violation of any of
the Indentures (which certificate shall include any calculations required to
support such statements) and (c) the truthfulness and correctness in all
material respects on and as of such date of the following additional
representations and warranties:

                  (i) Pari Passu. The obligations of such Foreign Subsidiary
      Borrower under this Agreement and any Note, when executed and delivered by
      such Foreign Subsidiary Borrower, will rank at least pari passu with all
      other secured Indebtedness of such Foreign Subsidiary Borrower.

                  (ii) No Immunities, etc. Such Foreign Subsidiary Borrower is
      subject to civil and commercial law with respect to its obligations under
      this Agreement and any Note, and the execution, delivery and performance
      by such Foreign Subsidiary Borrower of this Agreement constitute and will
      constitute private and commercial acts and not public or governmental
      acts. Neither such Foreign Subsidiary Borrower nor any of its property,
      whether or not held for its own account, has any immunity (sovereign or
      other similar immunity) from any suit or proceeding, from jurisdiction of
      any court or from set-off or any legal process (whether service

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                                                                              76

      or notice, attachment prior to judgment, attachment in aid of execution of
      judgment, execution of judgment or other similar immunity) under the laws
      of the jurisdiction in which such Foreign Subsidiary Borrower is organized
      and existing in respect of its obligations under this Agreement or any
      Note. Such Foreign Subsidiary Borrower has, pursuant to subsection 11.12,
      waived every immunity (sovereign or otherwise) to which it or any of its
      properties would otherwise be entitled from any legal action, suit or
      proceeding, from jurisdiction of any court or from set-off or any legal
      process (whether service or notice, attachment prior to judgment,
      attachment in aid of execution of judgment, execution of judgment or
      otherwise) under the laws of the jurisdiction in which such Foreign
      Subsidiary Borrower is organized and existing in respect of its
      obligations under this Agreement and any Note. The waiver by such Foreign
      Subsidiary Borrower described in the immediately preceding sentence is the
      legal, valid and binding obligation of such Foreign Subsidiary Borrower.

                  (iii) No Recordation Necessary. This Agreement and each Note,
      if any, is in proper legal form under the laws of the jurisdiction in
      which such Foreign Subsidiary Borrower is organized and existing for the
      enforcement hereof or thereof against such Foreign Subsidiary Borrower
      under the laws of such jurisdiction, and to ensure the legality, validity,
      enforceability, priority or admissibility in evidence of this Agreement
      and any such Note. It is not necessary to ensure the legality, validity,
      enforceability, priority or admissibility in evidence of this Agreement
      and any such Note that this Agreement, any Note or any other document be
      filed, registered or recorded with, or executed or notarized before, any
      court or other authority in the jurisdiction in which such Foreign
      Subsidiary Borrower is organized and existing or that any registration
      charge or stamp or similar tax be paid on or in respect of this Agreement,
      any Note or any other document, except for any such filing, registration
      or recording, or execution or notarization, as has been made or is not
      required to be made until this Agreement, any Note or any other document
      is sought to be enforced and for any charge or tax as has been timely
      paid.

                  (iv) Exchange Controls. The execution, delivery and
      performance by such Foreign Subsidiary Borrower of this Agreement, any
      Note or the other Loan Documents is, under applicable foreign exchange
      control regulations of the jurisdiction in which such Foreign Subsidiary
      Borrower is organized and existing, not subject to any notification or
      authorization except such as have been made or obtained or cannot be made
      or obtained until a later date.

            Each borrowing by and Letter of Credit issued for the account of any
Foreign Subsidiary Borrower hereunder shall constitute a representation and
warranty by each of the Parent Borrower and such Foreign Subsidiary Borrower as
of the date of such borrowings or such issuance that the conditions contained in
this subsection 6.3 have been satisfied.

                        SECTION 7. AFFIRMATIVE COVENANTS

            The Parent Borrower hereby agrees that, from and after the Effective
Date and so long as the Revolving Credit Commitments remain in effect, and
thereafter until payment in full of the Loans, all Reimbursement Obligations and
any other amount then due and owing to any Lender or the Administrative Agent
hereunder and under any Note and termination or expiration of all Letters of

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                                                                              77

Credit, the Parent Borrower shall and (except in the case of delivery of
financial information, reports and notices) shall cause each of its Subsidiaries
to:

            7.1 Financial Statements. Furnish to each Lender:

            (a) as soon as available, but in any event not later than 90 days
      after the end of each fiscal year of Holding, a copy of the audited
      consolidated balance sheet of Holding and its consolidated Subsidiaries as
      at the end of such year and the related audited consolidated statements of
      income and of cash flows for such year, setting forth in each case in
      comparative form the figures for and as of the end of the previous year,
      reported on without a "going concern" or like qualification or exception,
      or qualification arising out of the scope of the audit, by
      PricewaterhouseCoopers LLP or other independent certified public
      accountants of nationally recognized standing reasonably satisfactory to
      the Administrative Agent;

            (b) as soon as available, but in any event not later than 45 days
      after the end of each of the first three quarterly periods of each fiscal
      year of Holding, the unaudited consolidated balance sheet of Holding and
      its consolidated Subsidiaries as at the end of such quarter and the
      related unaudited consolidated statements of income and of cash flows of
      Holding and its consolidated Subsidiaries for such quarter and the portion
      of the fiscal year through the end of such quarter, setting forth in each
      case in comparative form the budgeted figures (as adjusted consistent with
      past practice) for the relevant period and the figures for the
      corresponding period of the previous fiscal year, certified by a
      Responsible Officer of Holding as being fairly stated in all material
      respects (subject to normal year-end audit and other adjustments);

            (c) as soon as available, but in any event not later than 90 days
      after the end of each fiscal year of the Parent Borrower, a copy of the
      audited consolidated balance sheet of the Parent Borrower and its
      consolidated Subsidiaries as at the end of such year and the related
      audited consolidated statements of income and of cash flows for such year,
      setting forth in each case in comparative form the figures for and as of
      the end of the previous year, reported on without a "going concern" or
      like qualification or exception, or qualification arising out of the scope
      of the audit, by PricewaterhouseCoopers LLP or other independent certified
      public accountants of nationally recognized standing reasonably
      satisfactory to the Administrative Agent;

            (d) as soon as available, but in any event not later than 45 days
      after the end of each of the first three quarterly periods of each fiscal
      year of the Parent Borrower, the unaudited consolidated balance sheet of
      the Parent Borrower and its consolidated Subsidiaries as at the end of
      such quarter and the related unaudited consolidated statements of income
      and of cash flows of the Parent Borrower and its consolidated Subsidiaries
      for such quarter and the portion of the fiscal year through the end of
      such quarter, setting forth in each case in comparative form the budgeted
      figures (as adjusted consistent with past practice) for the relevant
      period and the figures for the corresponding period of the previous fiscal
      year, certified by a Responsible Officer of the Parent Borrower as being
      fairly stated in all material respects (subject to normal year-end audit
      and other adjustments); and

<PAGE>
                                                                              78

            (e) as soon as available, but in any event not later than 30 days
      after the end of each fiscal month of each fiscal year of the Parent
      Borrower (or 45 days in the case of any such month ending on the last day
      of a fiscal quarter), a copy of the unaudited consolidated balance sheet
      of the Parent Borrower and its consolidated Subsidiaries as of the end of
      such month and the related unaudited consolidated statements of income and
      of cash flows for such month and the portion of the fiscal year through
      the end of such month, setting forth in each case, in comparative form the
      figures for the corresponding fiscal month of the previous year, certified
      by a Responsible Officer of the Parent Borrower as being fairly stated in
      all material respects (subject to normal quarter-end or year-end audit and
      other adjustments);

all such financial statements delivered pursuant to subsection 7.1(a), (b), (c)
or (d) to be (and, in the case of financial statements delivered pursuant to
subsection 7.1(b) or (d) shall be certified by a Responsible Officer of Holding
or the Parent Borrower, as applicable, as being) complete and correct in all
material respects in conformity with GAAP and to be (and, in the case of
financial statements delivered pursuant to subsection 7.1(b) or (d) shall be
certified by a Responsible Officer of Holding or the Parent Borrower, as
applicable, as being) prepared in reasonable detail in accordance with GAAP
applied consistently throughout the periods reflected therein and with prior
periods that began on or after the Effective Date (except as approved by such
accountants or officer, as the case may be, and disclosed therein, and except,
in the case of the financial statements delivered pursuant to subsection 7.1(b)
or (d), for the absence of certain notes).

            7.2 Certificates; Other Information. Furnish to each Lender:

            (a) concurrently with the delivery of the financial statements
      referred to in subsection 7.1(a) and (c), a certificate of the independent
      certified public accountants reporting on such financial statements
      stating that in making the audit necessary therefor no knowledge was
      obtained of any Default or Event of Default insofar as the same relates to
      any financial accounting matters covered by their audit, except as
      specified in such certificate;

            (b) concurrently with the delivery of the financial statements
      referred to in subsections 7.1(a), (b), (c) and (d), a certificate signed
      by a Responsible Officer of Holding and by a Responsible Officer of the
      Parent Borrower, (i) stating that, to the best of each such Responsible
      Officer's knowledge, each of Holding or the Parent Borrower, as the case
      may be, and its Subsidiaries during such period has observed or performed
      all of its covenants and other agreements, and satisfied every condition,
      contained in this Agreement, any Notes and the other Loan Documents to
      which it is a party to be observed, performed or satisfied by it, and that
      such Responsible Officer has obtained no knowledge of any Default or Event
      of Default, except, in each case, as specified in such certificate, and
      (ii) setting forth the calculations required to determine (A) compliance
      with all covenants set forth in subsection 8.1 (in the case of a
      certificate furnished with the financial statements referred to in
      subsections 7.1(c) and (d)) and (B) compliance with the covenant set forth
      in subsection 8.8 (in the case of a certificate furnished with the
      financial statements referred to in subsection 7.1(c));

            (c) as soon as available, but in any event not later than 90 days
      after the beginning of each fiscal year of Holding, a copy of the
      projections by Holding of the operating budget and

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                                                                              79

      cash flow budget of Holding and its Subsidiaries for such fiscal year,
      such projections to be accompanied by a certificate of a Responsible
      Officer of Holding to the effect that such Responsible Officer believes
      such projections to have been prepared on the basis of reasonable
      assumptions;

            (d) within five days after the same are sent, copies of all
      financial statements and reports which Holding or the Parent Borrower
      sends to its public securityholders, if any, and within five days after
      the same are filed, copies of all financial statements and periodic
      reports which Holding or the Parent Borrower may file with the Securities
      and Exchange Commission or any successor or analogous Governmental
      Authority;

            (e) within two days after the same are filed, copies of all
      registration statements and any amendments and exhibits thereto, which
      Holding or the Parent Borrower may file with the Securities and Exchange
      Commission or any successor or analogous Governmental Authority, and such
      other documents or instruments as may be reasonably requested by the
      Administrative Agent in connection therewith; and

            (f) promptly, such additional financial and other information as any
      Lender may from time to time reasonably request.

            7.3 Payment of Obligations. Pay, discharge or otherwise satisfy at
or before maturity or before they become delinquent, as the case may be, all its
material obligations of whatever nature, except where the amount or validity
thereof is currently being contested in good faith by appropriate proceedings
diligently conducted and reserves in conformity with GAAP with respect thereto
have been provided on the books of Holding or its Subsidiaries, as the case may
be.

            7.4 Conduct of Business and Maintenance of Existence. Continue to
engage in business of the same general type as conducted by Holding and its
Subsidiaries on the Effective Date, taken as a whole, and preserve, renew and
keep in full force and effect its corporate existence and take all reasonable
action to maintain all rights, privileges and franchises necessary or desirable
in the normal conduct of the business of Holding, the Parent Borrower and its
Subsidiaries, taken as a whole, except as otherwise expressly permitted pursuant
to subsection 8.5, provided that Holding, the Parent Borrower and its
Subsidiaries shall not be required to maintain any such rights, privileges or
franchises, if the failure to do so would not reasonably be expected to have a
Material Adverse Effect; and comply with all Contractual Obligations and
Requirements of Law except to the extent that failure to comply therewith, in
the aggregate, would not reasonably be expected to have a Material Adverse
Effect.

            7.5 Maintenance of Property; Insurance. Keep all property useful and
necessary in the business of Holding, the Parent Borrower and its Subsidiaries,
taken as a whole, in good working order and condition; maintain with financially
sound and reputable insurance companies insurance on all property material to
the business of Holding, the Parent Borrower and its Subsidiaries, taken as a
whole, in at least such amounts and against at least such risks (but including
in any event public liability, product liability and business interruption) as
are usually insured against in the same general area by companies engaged in the
same or a similar business; and furnish to the Administrative Agent, upon
written request, information in reasonable detail as to the insurance carried,
together with certificates of

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                                                                              80

insurance and other evidence of such insurance, if any, naming the
Administrative Agent as an additional insured and/or loss payee.

            7.6 Inspection of Property; Books and Records; Discussions. (a) Keep
proper books of records and account in which full, complete and correct entries
in conformity with GAAP and all material Requirements of Law shall be made of
all dealings and transactions in relation to its business and activities; and
permit representatives of any Lender to visit and inspect any of its properties
and examine and, to the extent reasonable, make abstracts from any of its books
and records and to discuss the business, operations, properties and financial
and other condition of Holding, the Parent Borrower and its Subsidiaries with
officers and employees of Holding, the Parent Borrower and its Subsidiaries and
with its independent certified public accountants, in each case at any
reasonable time, upon reasonable notice, and as often as may reasonably be
desired.

            (b) If a Default or Event of Default shall have occurred and be
continuing, the Parent Borrower shall reimburse the Administrative Agent for any
reasonable fees and expenses of third parties incurred in connection with any
appraisal of Holding's, the Parent Borrower's or any of its Subsidiaries' real
property reasonably requested in writing by the Required Lenders.

            7.7 Notices. Promptly give notice to the Administrative Agent and
each Lender of:

            (a) as soon as possible after a Responsible Officer of the Parent
      Borrower knows or reasonably should know thereof, the occurrence of any
      Default or Event of Default;

            (b) as soon as possible after a Responsible Officer of the Parent
      Borrower knows or reasonably should know thereof, any (i) default or event
      of default under any Contractual Obligation of Holding, the Parent
      Borrower or any of its Subsidiaries, other than as previously disclosed in
      writing to the Lenders, or (ii) litigation, investigation or proceeding
      which may exist at any time between Holding, the Parent Borrower or any of
      its Subsidiaries and any Governmental Authority, which in either case, if
      not cured or if adversely determined, as the case may be, would reasonably
      be expected to have a Material Adverse Effect;

            (c) as soon as possible after a Responsible Officer of Holding or
      the Parent Borrower knows or reasonably should know thereof, the
      occurrence of (i) any default or event of default under the Senior
      Subordinated Notes, the Holding Senior Discount Notes, any Holding
      Subordinated Exchange Debentures or any Indenture or (ii) any breach of
      any provision of the Preferred Stock Certificate of Designation;

            (d) as soon as possible after a Responsible Officer of the Parent
      Borrower knows or reasonably should know thereof, any litigation or
      proceeding affecting Holding, the Parent Borrower or any of its
      Subsidiaries in which the amount involved (not covered by insurance or
      indemnified by the Seller pursuant to the Acquisition Agreement) is
      $2,500,000 or more or in which injunctive or similar relief is sought that
      would reasonably be expected to have a Material Adverse Effect;

<PAGE>
                                                                              80

            (e) the following events, as soon as possible and in any event
      within 30 days after a Responsible Officer of the Parent Borrower knows or
      reasonably should know thereof: (i) the occurrence or expected occurrence
      of any Reportable Event with respect to any Single Employer Plan (other
      than a Reportable Event described in Section 4043(c)(9) of ERISA), a
      failure to make any required contribution to a Single Employer Plan or
      Multiemployer Plan, the creation of any Lien on the property of Holding,
      the Parent Borrower or any of its Subsidiaries in favor of the PBGC or a
      Plan or any withdrawal from, or the termination, Reorganization or
      Insolvency of, any Multiemployer Plan if, as a result thereof, Holding,
      the Parent Borrower, or any of its Subsidiaries would reasonably be
      expected to incur any material liability; (ii) the existence of an
      Underfunding under a Single Employer Plan that exceeds the lesser of (x)
      10% of the value of the assets of such Single Employer Plan or (y)
      $2,500,000, in each case, determined as of the most recent annual
      valuation date of such Single Employer Plan on the basis of the actuarial
      assumptions used to determine the funding requirements of such Single
      Employer Plan as of such date; (iii) the institution of proceedings or the
      taking of any other formal action by the PBGC or Holding, the Parent
      Borrower or any Commonly Controlled Entity or any Multiemployer Plan with
      respect to the withdrawal from, or the termination, Reorganization or
      Insolvency of, any Single Employer Plan or Multiemployer Plan if, as a
      result thereof, Holding, the Parent Borrower or any of its Subsidiaries
      would reasonably be expected to incur any material liability; or (iv) the
      occurrence or expected occurrence of any event or condition under which
      Holding, the Parent Borrower or any Commonly Controlled Entity has
      incurred or could incur any liability in respect of a Former Plan;

            (f) as soon as possible after a Responsible Officer of the Parent
      Borrower knows or reasonably should know thereof, any material adverse
      change in the business, operations, property, condition (financial or
      otherwise) or prospects of Holding and its Subsidiaries taken as a whole;

            (g) as soon as possible after a Responsible Officer of the Parent
      Borrower knows or reasonably should know thereof, and except in each case
      as would not reasonably be expected to result in a Material Adverse
      Effect, (i) any release or discharge by the Parent Borrower or any of its
      Subsidiaries of any Materials of Environmental Concern required to be
      reported under applicable Environmental Laws to any Governmental
      Authority; (ii) any condition, circumstance, occurrence or event that
      would result in liability pursuant to applicable Environmental Laws or
      would result in the imposition of any lien or other restriction on the
      title, ownership or transferability of any Property; (iii) any proposed
      action to be taken by the Parent Borrower or any of its Subsidiaries that
      would reasonably be expected to subject the Parent Borrower or any of its
      Subsidiaries to any material additional or different requirements or
      liabilities, to the knowledge of the Parent Borrower or any of its
      Subsidiaries, under any applicable Environmental Law; (iv) any
      Governmental Authority has notified the Parent Borrower or any of its
      Subsidiaries that any such Person is a potentially responsible party under
      the Comprehensive Environmental Response, Compensation and Liability Act
      or any comparable law for the cleanup of Materials of Environmental
      Concern at any location, whether or not owned, leased or operated by the
      Parent Borrower or any of its Subsidiaries; (v) any Governmental Authority
      has notified the Parent Borrower or any of its Subsidiaries that it will
      revoke any permit pursuant to any Environmental Law held by the Parent
      Borrower or any of its Subsidiaries, or deny or refuse to renew any such
      permit sought by the Parent Borrower or any

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      of its Subsidiaries; or (vi) any Governmental Authority has notified the
      Parent Borrower or any of its Subsidiaries that any property owned,
      leased, or operated by the Parent Borrower or any of its Subsidiaries is
      being listed on, or proposed for listing on, the National Priorities List
      (NPL) or the Comprehensive Environmental Response, Compensation and
      Liability Information System (CERCLIS) maintained by the U.S.
      Environmental Protection Agency, or on any similar list maintained by any
      Governmental Authority; and

            (h) within three Business Days of the issuance thereof, notice of
      any issuance of a letter of credit permitted by subsection 8.2(k).

Each notice pursuant to this subsection shall be accompanied by a statement of a
Responsible Officer of the Parent Borrower (and, if applicable, the relevant
Commonly Controlled Entity or Subsidiary) setting forth details of the
occurrence referred to therein and stating what action the Parent Borrower (or,
if applicable, the relevant Commonly Controlled Entity or Subsidiary) proposes
to take with respect thereto.

            7.8 Environmental Laws. (a) Comply substantially with all
Environmental Laws applicable to it, and obtain, comply substantially with and
maintain any and all licenses, approvals, notifications, registrations or
permits required by applicable Environmental Laws; and (ii) take all reasonable
efforts to ensure that all tenants, subtenants, contractors, subcontractors and
invitees comply substantially with all Environmental Laws, and obtain, comply
substantially with and maintain any and all licenses, approvals, notifications,
registrations or permits required by Environmental Laws applicable to any of
them insofar as any failure to so comply, obtain or maintain reasonably would be
expected to adversely affect the Parent Borrower or any of its Subsidiaries. For
purposes of this subsection 7.8(a), noncompliance shall be deemed not to
constitute a breach of this covenant provided that, upon learning of any actual
or suspected noncompliance, the Parent Borrower shall in a timely fashion
undertake or cause to be undertaken reasonable efforts to achieve substantial
compliance, and provided, further that, in any case, such noncompliance, and any
other such noncompliance with any Environmental Law, individually or in the
aggregate, would not reasonably be expected to result in a Material Adverse
Effect.

            (b) Promptly upon the Administrative Agent's request if the Parent
Borrower shall have failed to pay any principal of any Loan or any Reimbursement
Obligation when due in accordance with the terms hereof or shall have failed to
pay any interest on any Loan within five days after any such interest becomes
due in accordance with the terms hereof, permit an environmental consultant,
whom the Administrative Agent designates and which consultant is reasonably
acceptable to the Parent Borrower, to perform an environmental assessment
(including, without limitation: reviewing documents; interviewing knowledgeable
persons; and sampling and analyzing soil, air, surface rate, ground water,
and/or other media) in or about any Property subject to a Mortgage. Such
environmental assessment shall be in form, scope and substance reasonably
satisfactory to the Administrative Agent. The Parent Borrower or its
Subsidiaries shall cooperate fully in the conduct of such environmental
assessment, and shall pay the costs of such environmental assessment promptly
upon written demand by the Administrative Agent. Pursuant to this subsection
7.8(b) the Administrative Agent shall have the right, but shall not have any
duty, to request and/or obtain such environmental assessment.

<PAGE>
                                                                              83

            (c) Maintain, update as appropriate, and implement in all material
respects an ongoing program to ensure that all the properties and operations of
the Parent Borrower and its Subsidiaries are regularly and reasonably reviewed
by competent professionals (which may be employees of the Parent Borrower and
its Subsidiaries) to identify and promote compliance with and to reasonably and
prudently manage any liabilities or potential liabilities under any
Environmental Law that could reasonably be expected to have a Material Adverse
Effect, including, without limitation, compliance and liabilities relating to:
discharges to air and water; acquisition, transportation, storage and use of
hazardous materials; waste disposal; repair, maintenance and improvement of
properties; employee health and safety; species protection; and recordkeeping.

            7.9 After-Acquired Real Property and Fixtures. (a) With respect to
any owned real property or fixtures having a value in excess of $500,000 in
which the Parent Borrower or any of its Domestic Subsidiaries or any Foreign
Subsidiary Borrower acquires ownership rights at any time after the Effective
Date, promptly grant to the Administrative Agent, for the ratable benefit of the
Lenders, a Lien of record on all such owned real property and fixtures, upon
terms reasonably satisfactory in form and substance to the Administrative Agent
and in accordance with any applicable requirements of any Governmental Authority
(including, without limitation, any required appraisals of such property under
FIRREA); provided that nothing in this subsection 7.9 shall defer or impair the
attachment or perfection of any security interest in any Collateral covered by
any of the Security Documents which would attach or be perfected pursuant to the
terms thereof without action by the Parent Borrower, any Subsidiary or any other
Person; provided that any such mortgage by a Foreign Subsidiary Borrower shall
not secure any other Borrower's obligations. In connection with any such grant
to the Administrative Agent, for the benefit of the Lenders, of a first priority
Lien of record on any such real property in accordance with this subsection, the
Parent Borrower or such Subsidiary shall deliver or cause to be delivered to the
Administrative Agent any surveys, title insurance policies, environmental
reports and other documents in connection with such grant of such Lien obtained
by it in connection with the acquisition of such ownership rights in such real
property or as the Administrative Agent shall reasonably request (in light of
the value of such real property and the cost and availability of such surveys,
title insurance policies, environmental reports and other documents and whether
the delivery of such surveys, title insurance policies, environmental reports
and other documents would be customary in connection with such grant of such
Lien in similar circumstances).

            (b) At its own expense, execute, acknowledge and deliver, or cause
the execution, acknowledgment and delivery of, and thereafter register, file or
record in an appropriate governmental office, any document or instrument
reasonably deemed by the Administrative Agent to be necessary or desirable for
the creation and perfection of the foregoing Liens or any other Liens created
pursuant to the Security Documents.

            (c) At its own expense, request, and use reasonable efforts to
obtain, (i) a consent, substantially in the form of Exhibit F or such other form
as may be reasonably satisfactory to the Administrative Agent, from the landlord
of each of the existing facilities in which Inventory of any Loan Party is
located and for which annual lease payments exceed $100,000, as of the Effective
Date, in which such landlord acknowledges the Administrative Agent's security
interest in the Inventory pledged by each Loan Party to the Administrative Agent
for the benefit of the Lenders, copies of which consent, if obtained, shall be
delivered to the Administrative Agent (A) within 30 days after the Effective
Date, if

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                                                                              84

such consent is from a landlord entitled to receive at least $100,000 in annual
lease payments with respect to a facility and (B) to the extent not previously
delivered, as promptly as reasonably practicable following the Effective Date,
and (ii) prior to entering into a lease of a facility in which Inventory will be
located on or after the Effective Date, a consent, substantially in the form of
Exhibit F or such other form as may be reasonably satisfactory to the
Administrative Agent, from each landlord of any such facility, in which such
landlord acknowledges the Administrative Agent's first priority security
interest in the Inventory pledged by each Loan Party to the Administrative Agent
for the benefit of the Lenders.

            (d) Notwithstanding anything to contrary in this Agreement, nothing
in this subsection 7.9 shall require that any Foreign Subsidiary Borrower grant
a Lien with respect to any owned real property or fixtures in which such
Subsidiary acquires ownership rights to the extent that the Administrative
Agent, in its reasonable judgment, determines that the granting of such a Lien
is impracticable.

            7.10 Acquired Subsidiaries; Further Security and Guarantees. (a) In
the event that the Parent Borrower or any of its Subsidiaries acquires any
Material Subsidiary from any third party as permitted by the other provisions of
this Agreement, (i) such new Subsidiary (in the case of a new Domestic
Subsidiary or a Foreign Subsidiary Borrower) shall, to the extent permitted by
law, execute and deliver to the Administrative Agent the Guarantee and
Collateral Agreement and appropriate Mortgages and other security documents and
take any necessary steps to perfect the security interest to be created thereby
and (ii) the relevant parent corporation (if such parent corporation is the
Parent Borrower or a Domestic Subsidiary) shall execute and deliver to the
Administrative Agent a stock pledge agreement (or, if the parent corporation is
a party to the Guarantee and Collateral Agreement, pledge the Capital Stock of
such Material Subsidiary owned by such parent corporation pursuant to such
agreement) and shall take any necessary steps to perfect the security interest
to be created thereby (which security interest shall not apply to more than 65%
of such parent corporation's ownership interest in any Foreign Subsidiary).
Notwithstanding anything to contrary in this Agreement, nothing in this
subsection 7.10(a) shall require that any Foreign Subsidiary Borrower pledge the
stock of any Foreign Subsidiary acquired by it to the extent that the
Administrative Agent, in its reasonable judgment, determines that the granting
of such a Lien is impracticable.

            (b) Within 30 days after the due date for delivery of financial
statements pursuant to subsection 7.1(a), (b), (c) or (d), (i) the Parent
Borrower shall, to the extent permitted by law, cause any Domestic Subsidiary
(other than MSS (unless it is a Wholly Owned Subsidiary)) that qualifies as a
Material Subsidiary (based on its total assets as of the end of, or its total
revenues for, the most recently completed period of four consecutive fiscal
quarters of Holding), but which is not a party to the Guarantee and Collateral
Agreement, to execute and deliver to the Administrative Agent the Guarantee and
Collateral Agreement and appropriate Mortgages and other security documents and
take any necessary steps to perfect the security interest to be created thereby
and (ii) the relevant parent corporation (if such parent corporation is the
Parent Borrower or a Domestic Subsidiary) shall execute and deliver to the
Administrative Agent a stock pledge agreement (or, if the parent corporation is
a party to the Guarantee and Collateral Agreement, pledge the Capital Stock of
such Material Subsidiary owned by such parent corporation pursuant to such
agreement) and shall take any necessary steps to perfect the security interest
to be created thereby (which security interest shall not apply to more than 65%
of such parent corporation's ownership interest in any Foreign Subsidiary).

<PAGE>
                                                                              85

            7.11 Interest Rate Protection Agreement. In the case of the Parent
Borrower, no later than 90 days after the Effective Date, enter into an Interest
Rate Protection Agreement to provide that an amount at least equal to 50% of the
aggregate principal amount of the Loans and Senior Subordinated Notes is subject
to interest rate protection, which Interest Rate Protection Agreement shall be
in form and substance, and for a term, reasonably satisfactory to the
Administrative Agent and the Syndication Agent.

            7.12 Capital Contributions from Holding. In the case of the Parent
Borrower, immediately upon receipt of any capital contribution from Holding made
with the cash proceeds of any Asset Sale or any incurrence of Indebtedness for
borrowed money (other than Indebtedness permitted pursuant to Section 5.4.2(ii)
of the Guarantee and Collateral Agreement), prepay the Loans in accordance with
subsection 4.4(c).

            7.13 Maintenance of New York Process Agent. In the case of any
Foreign Subsidiary Borrower, maintain in New York, New York or at such other
location in the United States of America as may be reasonably satisfactory to
the Administrative Agent a Person acting as agent to receive on its behalf and
on behalf of its property service of process and capable of discharging the
functions of the New York Process Agent set forth in subsection 11.12(b).

            7.14 Updated Survey for California Mortgaged Property. In the case
of the Parent Borrower, furnish to the Administrative Agent, within 60 days
after the Effective Date, an update of the survey of the owned real property
covered by a Mortgage and located in California that was previously delivered to
the Administrative Agent pursuant to subsection 6.1(o).

                          SECTION 8. NEGATIVE COVENANTS

            The Parent Borrower hereby agrees that, from and after the Effective
Date and so long as the Revolving Credit Commitments remain in effect, and
thereafter until payment in full of the Loans, all Reimbursement Obligations and
any other amount then due and owing to any Lender or the Administrative Agent
hereunder and under any Note and termination or expiration of all Letters of
Credit, the Parent Borrower shall not, and shall not permit any of its
Subsidiaries to, directly or indirectly:

            8.1 Financial Condition Covenants.

            (a) Maintenance of Consolidated Interest Coverage Ratio. Permit, at
      the last day of any fiscal quarter ending during any test period set forth
      below, the Consolidated Interest Coverage Ratio to be less than the ratio
      set forth opposite such test period below:

            Test Period                                     Ratio
            -----------                                     -----

      Effective Date - December 25, 1999                    1.65 to 1.00
      December 26, 1999 - December 30, 2000                 1.80 to 1.00

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                                                                              86

      December 31, 2000 - December 29, 2001                 2.00 to 1.00
      December 30, 2001 - December 28, 2002                 2.35 to 1.00
      December 29, 2002 - December 27, 2003                 2.65 to 1.00
      Thereafter                                            3.00 to 1.00

      provided that in the event that the Parent Borrower changes its fiscal
      year end to the last day of December, the foregoing test periods for each
      fiscal year of the Parent Borrower occurring after such change shall be
      deemed to commence on January 1 of the applicable fiscal year and end on
      December 31 of such fiscal year (e.g., the test period from December 31,
      2000 through December 29, 2001 would become the period from January 1,
      2001 through December 31, 2001).

            (b) Maintenance of Leverage Ratio. Permit, at the last day of any
      fiscal quarter ending during any test period set forth below, the Leverage
      Ratio to be greater than the ratio set forth opposite such test period
      below:

            Test Period                                     Ratio
            -----------                                     -----

      Effective Date - December 25, 1999                    5.50 to 1.00
      December 26, 1999 - December 30 2000                  5.15 to 1.00
      December 31, 2000 - December 29, 2001                 4.60 to 1.00
      December 30, 2001 - December 28, 2002                 4.00 to 1.00
      December 29, 2002 - December 27, 2003                 3.50 to 1.00
      Thereafter                                            3.00 to 1.00

      provided that in the event that the Parent Borrower changes its fiscal
      year end to the last day of December, the foregoing test periods for each
      fiscal year of the Parent Borrower occurring after such change shall be
      deemed to commence on January 1 of the applicable fiscal year and end on
      December 31 of such fiscal year (e.g., the test period from December 31,
      2000 through December 29, 2001 would become the period from January 1,
      2001 through December 31, 2001).

            8.2 Limitation on Indebtedness. Create, incur, assume or suffer to
exist any Indebtedness (including any Indebtedness of any of its Subsidiaries),
except:

            (a) Indebtedness of each of the Borrowers under this Agreement and
      under any Notes;

            (b) Indebtedness of the Parent Borrower to any of its Wholly Owned
      Subsidiaries and of any Subsidiary of the Parent Borrower to the Parent
      Borrower or any other Wholly Owned Subsidiary of the Parent Borrower;

            (c) Indebtedness of the Parent Borrower and any of its Subsidiaries
      incurred to finance or refinance the acquisition of fixed or capital
      assets (whether pursuant to a loan, a Financing Lease or otherwise)
      otherwise permitted pursuant to this Agreement, and any other Financing
      Leases, in an aggregate principal amount not exceeding in the aggregate as
      to the Parent

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                                                                              87

      Borrower and its Subsidiaries $40,000,000 at any time outstanding,
      provided that such Indebtedness is incurred substantially simultaneously
      with such acquisition or within six months after such acquisition or in
      connection with a refinancing thereof;

            (d) Indebtedness of any of the Borrowers under Interest Rate
      Protection Agreements relating to Indebtedness of such Borrower under this
      Agreement, and Indebtedness of the Parent Borrower and its Subsidiaries
      under Permitted Hedging Arrangements;

            (e) other Indebtedness outstanding on the Effective Date and listed
      on Schedule 8.2(e) and any refinancings, refundings, renewals or
      extensions thereof, provided that the amount of such Indebtedness is not
      increased at the time of such refinancing, refunding, renewal or extension
      except by an amount equal to the premium or other amounts paid, and fees
      and expenses incurred, in connection with such refinancing and by an
      amount equal to the unutilized commitments thereunder;

            (f) to the extent that any Guarantee Obligation permitted under
      subsection 8.4 constitutes Indebtedness, such Indebtedness;

            (g) Indebtedness of the Parent Borrower or any of its Subsidiaries
      pursuant to any Permitted Receivables Securitization, provided that upon
      the effectiveness of any such Permitted Receivables Securitization, the
      Term Loans shall be prepaid and the Revolving Credit Commitments shall be
      automatically and permanently reduced in accordance with subsections
      4.4(c) and 4.4(i);

            (h) Indebtedness to finance the general working capital needs of the
      Parent Borrower and its Subsidiaries incurred after the Termination Date
      in an aggregate principal amount, when added to the aggregate Consolidated
      Total Funded Indebtedness/Securitizations in respect of any Permitted
      Receivables Securitizations at such time outstanding, not to exceed the
      amount of the Revolving Credit Commitments as of the Effective Date,
      provided that (i) the Revolving Credit Commitments shall have been or
      shall concurrently be terminated and the Revolving Credit Loans shall have
      been or shall concurrently be repaid in full and (ii) the terms and
      conditions of such replacement working capital facility shall be
      substantially similar to, or otherwise not less favorable to the Tranche B
      Term Loan Lenders in any material respect than, the analogous provisions
      applicable to the Revolving Credit Commitments;

            (i) Indebtedness of Foreign Subsidiaries of the Parent Borrower (in
      addition to Indebtedness of Foreign Subsidiaries of the Parent Borrower
      permitted by subsection 8.2(e) and 8.2(o)) not exceeding, as to all such
      Foreign Subsidiaries, $20,000,000 in aggregate principal amount at any one
      time outstanding;

            (j) Indebtedness of the Parent Borrower and any of its Subsidiaries
      incurred to finance or refinance the purchase price of, or Indebtedness of
      the Parent Borrower and any of its Subsidiaries assumed in connection
      with, any acquisition permitted by subsection 8.10, provided that (i) such
      Indebtedness is incurred prior to, substantially simultaneously with or
      within six months after such acquisition or in connection with a
      refinancing thereof, (ii) either (A) (x) such

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                                                                              88

      Indebtedness shall have terms and conditions reasonably satisfactory to
      the Administrative Agent and (y) such Indebtedness (other than
      Subordinated Debt) shall not exceed 60% of the purchase price of such
      acquisition (including any Indebtedness (other than Subordinated Debt)
      assumed in connection with such acquisition and any Guarantee Obligations
      (other than any Guarantee Obligation in respect of any Subordinated Debt,
      which Guarantee Obligation is subordinated on the same terms as such
      Subordinated Debt) incurred in connection with such acquisition) (or such
      greater percentage as shall be reasonably satisfactory to the
      Administrative Agent or, if any such purchase price shall be greater than
      $35,000,000, such greater percentage as shall be satisfactory to the
      Required Lenders) or (B) the incurrence of such Indebtedness in connection
      with such acquisition would be permitted by subsection 8.10(c), and (iii)
      immediately after giving effect to such acquisition no Default or Event of
      Default shall have occurred and be continuing;

            (k) Indebtedness in respect of letters of credit (excluding Letters
      of Credit) issued by a Lender or an affiliate of a Lender for the account
      of the Parent Borrower and its Subsidiaries, provided that (i) the
      aggregate amount of any such Indebtedness shall not exceed the Letter of
      Credit commitment of the Issuing Lender pursuant to subsection 3.1(a)(ii)
      and (ii) upon the effectiveness of any such letter of credit and for so
      long as it remains outstanding, the Letter of Credit commitment of the
      Issuing Lender pursuant to subsection 3.1(a)(ii) shall be reduced by an
      amount equal to the aggregate amount of such Indebtedness;

            (l) Indebtedness of the Parent Borrower or any of its Subsidiaries
      in respect of Sale and Leaseback Transactions permitted under subsection
      8.12;

            (m) Indebtedness of the Parent Borrower or any of its Subsidiaries
      incurred to finance insurance premiums in the ordinary course of business;

            (n) Indebtedness arising from the honoring of a check, draft or
      similar instrument against insufficient funds, provided that such
      Indebtedness is extinguished within two Business Days of its incurrence;

            (o) Indebtedness of any Foreign Subsidiary of the Parent Borrower
      fully supported on the date of the incurrence thereof by a Foreign
      Backstop Letter of Credit;

            (p) Indebtedness of the Parent Borrower on account of the Senior
      Subordinated Notes having a principal amount not exceeding $150,000,000 in
      the aggregate at any one time outstanding; and

            (q) additional Indebtedness of the Parent Borrower or any Subsidiary
      of the Parent Borrower not exceeding $20,000,000 as to the Parent Borrower
      and its Subsidiaries in aggregate principal amount at any one time
      outstanding.

            For purposes of determining compliance with clauses (c), (e), (h),
(i), (j), (k), (l), (o) and (q) of this subsection 8.2, the amount of any
Indebtedness denominated in any currency other than Dollars shall be calculated
based on customary currency exchange rates in effect, in the case of such
Indebtedness incurred (in respect of term debt) or committed (in respect of
revolving debt) on or prior

<PAGE>
                                                                              89

to the Effective Date, on the Effective Date and, in the case of such
Indebtedness incurred (in respect of term debt) or committed (in respect of
revolving debt) after the Effective Date, on the date that such Indebtedness was
incurred (in respect of term debt) or committed (in respect of revolving debt).

            8.3 Limitation on Liens. Create, incur, assume or suffer to exist
any Lien upon any of its property, assets or revenues, whether now owned or
hereafter acquired, except for:

            (a) Liens for taxes not yet delinquent or the nonpayment of which in
      the aggregate would not reasonably be expected to have a Material Adverse
      Effect, or which are being contested in good faith by appropriate
      proceedings diligently conducted and adequate reserves with respect
      thereto are maintained on the books of Holding or its Subsidiaries, as the
      case may be, in conformity with GAAP;

            (b) carriers', warehousemen's, mechanics', materialmen's,
      repairmen's or other like Liens arising in the ordinary course of business
      which are not overdue for a period of more than 60 days or which are being
      contested in good faith by appropriate proceedings diligently conducted;

            (c) Liens of landlords or of mortgagees of landlords arising by
      operation of law or pursuant to the terms of real property leases,
      provided that the rental payments secured thereby are not yet due and
      payable;

            (d) pledges, deposits or other Liens in connection with workers'
      compensation, unemployment insurance, other social security benefits or
      other insurance related obligations (including, without limitation,
      pledges or deposits securing liability to insurance carriers under
      insurance or self-insurance arrangements);

            (e) Liens arising by reason of any judgment, decree or order of any
      court or other Governmental Authority, if appropriate legal proceedings
      which may have been duly initiated for the review of such judgment, decree
      or order, are being diligently prosecuted and shall not have been finally
      terminated or the period within which such proceedings may be initiated
      shall not have expired;

            (f) Liens to secure the performance of bids, trade contracts (other
      than for borrowed money), leases, statutory obligations, surety and appeal
      bonds, performance bonds, judgment and like bonds, replevin and similar
      bonds and other obligations of a like nature incurred in the ordinary
      course of business;

            (g) zoning restrictions, easements, rights-of-way, restrictions on
      the use of property, other similar encumbrances incurred in the ordinary
      course of business and minor irregularities of title, which do not
      materially interfere with the ordinary conduct of the business of the
      Parent Borrower and its Subsidiaries taken as a whole;

            (h) Liens securing or consisting of Indebtedness of the Parent
      Borrower and its Subsidiaries permitted by subsection 8.2(c) incurred to
      finance the acquisition of fixed or capital assets or Indebtedness of the
      Parent Borrower and its Subsidiaries permitted by subsection 8.2(j)

<PAGE>
                                                                              90

      incurred to finance the purchase price of, or assumed in connection with,
      any acquisition permitted by subsection 8.10, provided that (i) such Liens
      shall be created substantially simultaneously with such acquisition and
      (ii) such Liens securing such Indebtedness do not at any time encumber any
      property other than the property financed by such Indebtedness;

            (i) Liens existing on assets or properties at the time of the
      acquisition thereof by the Parent Borrower or a Subsidiary which do not
      materially interfere with the use of the property subject thereto or
      extend to or cover any assets of the Parent Borrower or such Subsidiary
      other than the assets or property being acquired;

            (j) Liens (i) in existence on the Effective Date and listed in
      Schedule 8.3(j) and other Liens securing Indebtedness of the Parent
      Borrower and its Subsidiaries permitted by subsection 8.2(e), provided
      that no such Lien is spread to cover any additional property after the
      Effective Date and that the amount of Indebtedness secured thereby is not
      increased except as permitted by subsection 8.2(e), or (ii) not otherwise
      permitted hereunder, all of which Liens permitted pursuant to this
      subsection 8.3(j) securing obligations not exceeding (as to the Parent
      Borrower and all its Subsidiaries) $5,000,000 in aggregate amount at any
      time outstanding;

            (k) Liens securing Guarantee Obligations permitted under subsection
      8.4(f) not exceeding (as to the Parent Borrower and all its Subsidiaries)
      $2,000,000 in aggregate amount at any time outstanding;

            (l) Liens created pursuant to the Security Documents or otherwise
      securing Indebtedness permitted by subsection 8.2(a);

            (m) Liens created pursuant to and in accordance with any Permitted
      Receivables Securitization;

            (n) Liens on Intellectual Property and foreign patents, patent
      applications, trademarks, trademark applications, trade names, service
      marks, copyrights, technology, know-how and processes to the extent such
      Liens arise from the granting of licenses to use such Intellectual
      Property and foreign patents, patent applications, trademarks, trademark
      applications, trade names, service marks, copyrights, technology, know-how
      and processes to any Person in the ordinary course of business of the
      Parent Borrower and its Subsidiaries;

            (o) Liens on equipment in favor of lessees or conditional purchasers
      of such equipment leased on a Financing Lease basis or sold on a
      conditional basis by the Parent Borrower or any of its Subsidiaries to
      Agents or Owner/Operators in the ordinary course of business of the Parent
      Borrower and its Subsidiaries;

            (p) any encumbrance or restriction (including, without limitation,
      put and call agreements) with respect to the Capital Stock of any joint
      venture or similar arrangement pursuant to the joint venture or similar
      agreement with respect to such joint venture or similar arrangement,
      provided that no such encumbrance or restriction affects in any way the
      ability of the Parent Borrower or any of its Subsidiaries to comply with
      subsection 8.16(b);

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                                                                              91

            (q) Liens on property subject to Sale and Leaseback Transactions
      permitted under subsection 8.12 and general intangibles related thereto;

            (r) Liens on property of any Foreign Subsidiary of the Parent
      Borrower securing Indebtedness of such Foreign Subsidiary of the Parent
      Borrower permitted by subsection 8.2(i); and

            (s) Liens on assets or properties of any Insurance Subsidiary
      arising by operation of applicable insurance law or required to be imposed
      thereunder in the ordinary course of such Subsidiary's insurance business.

            8.4 Limitation on Guarantee Obligations. Create, incur, assume or
suffer to exist any Guarantee Obligation except:

            (a) Guarantee Obligations in existence on the Effective Date and
      listed in Schedule 8.4(a), and any refinancings, refundings, extensions or
      renewals thereof, provided that the amount of such Guarantee Obligation
      shall not be increased at the time of such refinancing, refunding,
      extension or renewal except to the extent that the amount of Indebtedness
      in respect of such Guarantee Obligations is permitted to be increased by
      subsection 8.2(e);

            (b) Guarantee Obligations in connection with up to an aggregate
      principal amount of $10,000,000 of Indebtedness outstanding at any time
      incurred by Management Investors in connection with any Management
      Subscription Agreement, and any refinancings, refundings, extensions or
      renewals thereof, provided that such amount shall be reduced by the
      aggregate then outstanding principal amount of loans and advances
      permitted by subsection 8.9(n);

            (c) Guarantee Obligations for performance, appeal, judgment,
      replevin and similar bonds, or suretyship arrangements, all in the
      ordinary course of business;

            (d) Guarantee Obligations in respect of indemnification and
      contribution agreements expressly permitted by subsection 8.11(iv) or
      similar agreements by Holding or the Parent Borrower;

            (e) Reimbursement Obligations in respect of the Letters of Credit
      and reimbursement obligations owing to the issuer of any letter of credit
      permitted by subsection 8.2(k);

            (f) Guarantee Obligations in respect of third-party loans and
      advances to officers or employees of the Parent Borrower or any Subsidiary
      (i) for travel and entertainment expenses incurred in the ordinary course
      of business, (ii) for relocation expenses incurred in the ordinary course
      of business or (iii) for any other purpose and, in the case of this clause
      (iii), in an aggregate principal amount (as to the Parent Borrower and all
      its Subsidiaries), together with the aggregate amount of all Investments
      permitted under subsection 8.9(e)(iii), of up to $2,000,000 outstanding at
      any time;

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                                                                              92

            (g) obligations to insurers required in connection with worker's
      compensation and other insurance coverage incurred in the ordinary course
      of business;

            (h) obligations of any of the Borrowers under any Interest Rate
      Protection Agreements relating to Indebtedness of such Borrower under this
      Agreement, and obligations of the Parent Borrower and its Subsidiaries
      under Permitted Hedging Arrangements;

            (i) guarantees made in the ordinary course of its business by the
      Parent Borrower or any of its Subsidiaries of obligations of the Parent
      Borrower or any of its Subsidiaries, which obligations are otherwise
      permitted under this Agreement;

            (j) Guarantee Obligations in connection with sales or other
      dispositions permitted under subsection 8.6, including indemnification
      obligations with respect to leases, and guarantees of collectability in
      respect of accounts receivables or notes receivable for up to face value;

            (k) accommodation guarantees for the benefit of trade creditors of
      the Parent Borrower or any of its Subsidiaries in the ordinary course of
      business of obligations of the Parent Borrower or any of its Subsidiaries,
      which obligations are otherwise permitted by this Agreement;

            (l) Guarantee Obligations with respect to an aggregate principal
      amount of up to $20,000,000 of third-party loans and advances to Agents
      and Owner/Operators, provided that such amount shall be reduced by the
      aggregate then outstanding principal amount of loans permitted by
      subsection 8.9(o);

            (m) Guarantee Obligations of the Parent Borrower and its
      Subsidiaries in respect of recourse events in connection with any
      Permitted Receivables Securitization;

            (n) Guarantee Obligations in respect of Indebtedness of a Person in
      connection with a joint venture or similar arrangement in respect of which
      no other co-investor or other Person has a greater legal or beneficial
      ownership interest than the Parent Borrower or any of its Subsidiaries and
      as to all of such Persons does not at any time exceed $10,000,000 in
      aggregate principal amount, provided that such amount shall be reduced by
      the aggregate amount of then existing Investments permitted by subsection
      8.9(l);

            (o) Guarantee Obligations incurred in connection with acquisitions
      permitted under subsection 8.10, provided that either (i) any such
      Guarantee Obligation (other than any Guarantee Obligation in respect of
      any Subordinated Debt, which Guarantee Obligation is subordinated on the
      same terms as such Subordinated Debt) shall not exceed, with respect to
      any such acquisition, 60% of the purchase price of such acquisition
      (including any Indebtedness (other than Subordinated Debt) incurred and/or
      assumed in connection with any such acquisition) (or such greater
      percentage as shall be reasonably satisfactory to the Administrative Agent
      or, if any such purchase price shall be greater than $35,000,000, such
      greater percentage as shall be satisfactory to the Required Lenders), or
      (ii) if such Guarantee Obligation were

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                                                                              93

      treated as Indebtedness, the incurrence of such Indebtedness in connection
      with such acquisitions would be permitted by subsection 8.10(c);

            (p) Guarantee Obligations incurred pursuant to the Guarantees or
      otherwise in respect of Indebtedness permitted by subsection 8.2(a); and

            (q) Guarantee Obligations under the Subordinated Subsidiary
      Guarantees in respect of the Senior Subordinated Notes, provided that such
      Guarantee Obligations are subordinated on the same terms as the
      obligations of the Parent Borrower in respect of the Senior Subordinated
      Notes are subordinated.

            8.5 Limitation on Fundamental Changes. Enter into any merger,
consolidation or amalgamation, or liquidate, wind up or dissolve itself (or
suffer any liquidation or dissolution), or convey, sell, lease, assign, transfer
or otherwise dispose of, all or substantially all of its property, business or
assets, except:

            (a) any Subsidiary of the Parent Borrower may be merged or
      consolidated with or into the Parent Borrower (provided that the Parent
      Borrower shall be the continuing or surviving corporation) or with or into
      any one or more Wholly Owned Subsidiaries of the Parent Borrower (provided
      that the Wholly Owned Subsidiary or Subsidiaries of the Parent Borrower
      shall be the continuing or surviving corporation and provided further that
      no Domestic Subsidiary may be merged or consolidated with or into a
      Foreign Subsidiary unless the continuing or surviving entity is a Domestic
      Subsidiary);

            (b) any Subsidiary of the Parent Borrower may sell, lease, transfer
      or otherwise dispose of any or all of its assets (upon voluntary
      liquidation or otherwise) to the Parent Borrower or to any Wholly Owned
      Subsidiary of the Parent Borrower that is a Guarantor;

            (c) any Foreign Subsidiary of the Parent Borrower may sell, lease,
      transfer or otherwise dispose of any or all of its assets (upon voluntary
      liquidation or otherwise) to any other Foreign Subsidiary that is a Wholly
      Owned Subsidiary of the Parent Borrower, provided that if the Foreign
      Subsidiary that so disposes of its assets is a Foreign Subsidiary
      Borrower, either (i) such Foreign Subsidiary Borrower shall,
      simultaneously with such disposition, repay in full all outstanding Loans
      made to it, cash collateralize (on terms reasonably satisfactory to the
      Administrative Agent) any outstanding L/C Obligations in respect of
      Letters of Credit issued for its account, and terminate its right to
      borrow hereunder or (ii) the transferee of such assets shall be a Foreign
      Subsidiary Borrower; and

            (d) as expressly permitted by subsection 8.6.

            8.6 Limitation on Sale of Assets. (a) Convey, sell, lease, assign,
transfer or otherwise dispose of any of its property, business or assets
(including, without limitation, receivables and leasehold interests), whether
now owned or hereafter acquired, or, in the case of any Subsidiary, issue or
sell any shares of such Subsidiary's Capital Stock, to any Person other than the
Parent Borrower or any Wholly Owned Subsidiary of the Parent Borrower, except:

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                                                                              94

            (i) the sale or other Disposition of obsolete or worn out property,
      whether now owned or hereafter acquired, in the ordinary course of
      business;

            (ii) the sale or other Disposition of any property (including
      Inventory) in the ordinary course of business;

            (iii) the sale or discount without recourse of accounts receivable
      or notes receivable arising in the ordinary course of business, or the
      conversion or exchange of accounts receivable into or for notes
      receivable, in connection with the compromise or collection thereof,
      provided that, in the case of any Foreign Subsidiary of the Parent
      Borrower, any such sale or discount may be with recourse if such sale or
      discount is consistent with customary practice in such Foreign
      Subsidiary's country of business and the aggregate amount of any such
      recourse shall (to the extent such recourse is required by GAAP to be
      included as Indebtedness on the consolidated balance sheet of Holding and
      its consolidated subsidiaries) be included in the determination of such
      Foreign Subsidiary's Indebtedness for purposes of subsection 8.2(i);

            (iv) as permitted by subsection 8.5(b) or 8.5(c) or pursuant to Sale
      and Leaseback Transactions permitted by subsection 8.12;

            (v) the sale, transfer or discount of Receivables pursuant to any
      Permitted Receivables Securitization, provided that upon the effectiveness
      of any such Permitted Receivables Securitization, the Term Loans shall be
      prepaid and the Revolving Credit Commitments shall be automatically and
      permanently reduced to the extent required by subsections 4.4(c) and
      4.4(i);

            (vi) Dispositions of any assets or property by the Parent Borrower
      or any Subsidiary of the Parent Borrower to any Wholly Owned Subsidiary of
      the Parent Borrower, provided that the Wholly Owned Subsidiary has
      executed each of the guarantees and security documents required pursuant
      to subsection 8.16(b);

            (vii) any other Asset Sales by the Parent Borrower or any of its
      Subsidiaries the Net Cash Proceeds of which do not exceed $10,000,000 per
      annum and $30,000,000 in the aggregate after the Effective Date and the
      non-cash portion of the consideration for any such Asset Sale does not
      exceed 25% thereof, provided that an amount equal to 100% of such Net Cash
      Proceeds of any such Asset Sale less the Reinvested Amount is applied in
      accordance with subsection 4.4(c);

            (viii) the abandonment or other Disposition of patents, trademarks
      or other intellectual property that are, in the reasonable judgment of the
      Parent Borrower, no longer economically practicable to maintain or useful
      in the conduct of the business of the Parent Borrower and its Subsidiaries
      taken as a whole;

            (ix) Dispositions permitted by subsection 8.9(m), provided that an
      amount equal to 100% of the Net Cash Proceeds of any such Asset Sale less
      the Reinvested Amount is applied in accordance with subsection 4.4(c);

<PAGE>
                                                                              95

            (x) Dispositions of equipment to Agents and Owner/Operators,
      including sales pursuant to lease or conditional sales agreements,
      provided that an amount equal to 100% of the Net Cash Proceeds of any such
      Asset Sale less the Reinvested Amount is applied in accordance with
      subsection 4.4(c); and

            (xi) the Disposition of any Subsidiary that is not a Material
      Subsidiary.

            (b) Convey, sell or otherwise transfer shares of Capital Stock of a
Foreign Subsidiary to Holding or any Domestic Subsidiary of Holding unless at
the time of such conveyance, sale or transfer (or promptly thereafter) Holding
or such Domestic Subsidiary shall execute and deliver to the Administrative
Agent a stock pledge agreement and take any necessary steps to perfect the
security interest to be created thereby (which security interest shall not apply
to (i) more than 65% of Holding's or such Domestic Subsidiary's ownership
interest in any Foreign Subsidiary or (ii) any ownership interest in a
non-Wholly Owned Foreign Subsidiary to the extent that the grant of such
security interest would violate the terms of any agreements under which the
Investment by Holding or any or its Subsidiaries was made therein).

            8.7 Limitation on Loans and Dividends to Holding. Make any advance,
loan or extension or credit to Holding or declare or pay any dividend (other
than dividends payable solely in common stock of the Parent Borrower or options,
warrants or other rights to purchase common stock of the Parent Borrower) on, or
make any payment on account of, or set apart assets for a sinking or other
analogous fund for, the purchase, redemption, defeasance, retirement or other
acquisition of, any shares of any class of Capital Stock of the Parent Borrower
or any warrants or options to purchase any such Capital Stock, whether now or
hereafter outstanding, or make any other distribution (other than distributions
payable solely in common stock of the Parent Borrower or options, warrants or
other rights to purchase common stock of the Parent Borrower) in respect
thereof, either directly or indirectly, whether in cash or property or in
obligations of the Parent Borrower or any Subsidiary, except that:

            (a) the Parent Borrower and any of its Subsidiaries may make loans
      and advances, and the Parent Borrower may pay cash dividends, to Holding
      in an aggregate amount sufficient to allow Holding to pay expenses
      incurred in the ordinary course of business in an aggregate amount not to
      exceed $2,000,000 in any fiscal year;

            (b) the Parent Borrower and any of its Subsidiaries may make loans
      and advances, and the Parent Borrower may pay cash dividends, to Holding
      in an aggregate amount sufficient to cover reasonable and necessary
      expenses (including professional fees and expenses) incurred by Holding in
      connection with (i) registration, public offerings and exchange listing of
      equity or debt securities and maintenance of the same, (ii) compliance
      with reporting obligations under federal or state laws or under this
      Agreement or any of the other Loan Documents and (iii) indemnification and
      reimbursement of directors, officers and employees in respect of
      liabilities relating to their serving in any such capacity;

<PAGE>
                                                                              96

            (c) the Parent Borrower and any of its Subsidiaries may make loans
      and advances, and the Parent Borrower may pay cash dividends, to Holding
      in an aggregate amount sufficient to pay tax liabilities of Holding which
      are paid in cash by Holding to any taxing authority;

            (d) the Parent Borrower and any of its Subsidiaries may make loans
      and advances, and the Parent Borrower may pay cash dividends, to Holding
      in an aggregate amount sufficient to allow Holding to repurchase shares of
      its common stock or options in respect thereof issued pursuant to any
      Management Subscription Agreement, as any such agreement may be amended
      from time to time, which may be entered into between Holding and certain
      Management Investors, for an aggregate purchase price not to exceed
      $10,000,000, provided that such amount shall be increased by (i) an amount
      equal to $2,000,000 on each anniversary of the Effective Date, commencing
      on the first anniversary of the Effective Date, and (ii) an amount equal
      to the proceeds contributed in cash by Holding to the Parent Borrower of
      any resales or new issuances of shares and options to any such Management
      Investors, at any time after the initial issuances to any Management
      Investors, together with the aggregate amount of deferred compensation
      owed by the Parent Borrower or any of its Subsidiaries to any such
      Management Investor that shall thereafter have been canceled, waived or
      exchanged at any time after the initial issuances to any thereof in
      connection with the grant to such Management Investor of the right to
      receive or acquire shares of Holding common stock;

            (e) the Parent Borrower and any of its Subsidiaries may make loans
      and advances, and the Parent Borrower may pay cash dividends, to Holding
      in an aggregate amount of up to $500,000 to allow Holding to pay interest
      on the Holding Loan;

            (f) after November 19, 2004, the Parent Borrower and any of its
      Subsidiaries may make loans and advances, and the Parent Borrower may pay
      cash dividends, to Holding in an aggregate amount sufficient to allow
      Holding to pay scheduled cash dividends on the shares of Holding Preferred
      Stock (if applicable) and to pay scheduled interest on the Holding Senior
      Discount Notes and the Holding Subordinated Exchange Debentures (if
      applicable), provided that, in each case, no Default or Event of Default
      shall have occurred and be continuing or would result from the payment of
      such cash dividend; and

            (g) the Parent Borrower and any of its Subsidiaries may make loans
      and advances, and the Parent Borrower may pay cash dividends, to Holding
      in an aggregate amount sufficient to allow Holding to pay all fees and
      expenses incurred in connection with the Acquisition, this Agreement and
      the transactions expressly contemplated hereby and thereby.

            8.8 Limitation on Capital Expenditures. Make or commit to make any
Capital Expenditures (excluding any expenses incurred in connection with normal
replacement and maintenance programs properly charged to current operations and
excluding any Reinvested Amounts); provided that the Parent Borrower and its
consolidated Subsidiaries may make Capital Expenditures in an amount not to
exceed, for any fiscal year of the Parent Borrower set forth below, the sum of
(a) the amount set forth opposite such fiscal year below:

                  Fiscal Year               Amount
                  -----------               ------

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                                                                              97

                     1999                 $45,000,000
                     2000                 $55,000,000
                     2001 and thereafter  $60,000,000

plus (b) an amount up to the Available Adjustment to the extent such amount is
used for Capital Expenditures for the development and implementation of an
e-commerce strategy or the development and implementation of new information
technology; provided that the unused amount of any Capital Expenditures
permitted to be made pursuant to the foregoing clause (a) during any fiscal year
and not made during such fiscal year may be carried over and expended during the
next succeeding fiscal year (any amount so carried over to be deemed the first
amount applied and expended for Capital Expenditures during such next succeeding
fiscal year).

            8.9 Limitation on Investments, Loans and Advances. Make any advance,
loan, extension of credit or capital contribution to, or purchase any stock,
bonds, notes, debentures or other securities of or any assets constituting a
business unit of, or make any other investment in (each an "Investment"), any
Person, except:

            (a) extensions of trade credit in the ordinary course of business;

            (b) Investments in Cash Equivalents;

            (c) Investments existing on the Effective Date and described in
      Schedule 8.9(c), setting forth the respective amounts of such Investments
      as of a recent date;

            (d) Investments in notes receivable in connection with transactions
      permitted by subsection 8.6(a)(iii);

            (e) loans and advances to officers, directors or employees of
      Holding, the Parent Borrower or any of their respective Subsidiaries (i)
      in the ordinary course of business for travel and entertainment or
      relocation expenses, (ii) existing on the Effective Date and described in
      Schedule 8.9(c), (iii) made after the Effective Date for other purposes,
      not to exceed (as to Holding and all its Subsidiaries), together with the
      amount of all Guarantee Obligations permitted pursuant to subsection
      8.4(f)(iii), $4,000,000 in the aggregate outstanding at any time or (iv)
      relating to indemnification or reimbursement of any officers, directors or
      employees in respect of liabilities relating to their serving in any such
      capacity or as otherwise specified in subsection 8.11;

            (f) Investments by the Parent Borrower in its Wholly Owned
      Subsidiaries (other than any Receivables Subsidiary) and by such
      Subsidiaries in the Parent Borrower and in Wholly Owned Subsidiaries of
      the Parent Borrower (other than any Receivables Subsidiary);

            (g) acquisitions expressly permitted by subsection 8.10;

            (h) Investments of any of the Borrowers under Interest Rate
      Protection Agreements relating to Indebtedness of such Borrower under this
      Agreement, and Investments by the Parent Borrower and its Subsidiaries
      under Permitted Hedging Arrangements;

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                                                                              98

            (i) any Investment by the Parent Borrower and its Subsidiaries
      which, in the judgment of the Parent Borrower, is reasonably necessary in
      connection with, and pursuant to, any Permitted Receivables
      Securitization;

            (j) Investments in the nature of pledges or deposits with respect to
      leases or utilities provided to third parties in the ordinary course of
      business or otherwise described in subsection 8.3(c), (d) or (f);

            (k) Investments representing non-cash consideration received by the
      Parent Borrower or any of its Subsidiaries in connection with any Asset
      Sale, provided that in the case of any Asset Sale permitted under
      subsection 8.6(a)(vii), such non-cash consideration constitutes not more
      than 25% of the aggregate consideration received in connection with such
      Asset Sale and any such non-cash consideration received by the Parent
      Borrower or any of its Subsidiaries (other than Foreign Subsidiaries to
      the extent that the Parent Borrower's obligations would be secured by a
      pledge of such non-cash consideration) is pledged to the Administrative
      Agent for the benefit of the Lenders pursuant to the Security Documents;

            (l) Investments by the Parent Borrower or any of its Subsidiaries in
      a Person in connection with a joint venture or similar arrangement in
      respect of which no other co-investor or other Person has a greater legal
      or beneficial ownership interest than the Parent Borrower or such
      Subsidiary in an aggregate amount not to exceed at any time an amount
      equal to $10,000,000, provided that such amount shall be reduced by the
      aggregate principal amount of Indebtedness in respect of Guarantee
      Obligations permitted by subsection 8.4(n);

            (m) Investments representing evidences of Indebtedness, securities
      or other property received from another Person by the Parent Borrower or
      any of its Subsidiaries in connection with any bankruptcy proceeding or
      other reorganization of such other Person or as a result of foreclosure,
      perfection or enforcement of any Lien or exchange for evidences of
      Indebtedness, securities or other property of such other Person held by
      the Parent Borrower or any of its Subsidiaries, provided that any such
      securities or other property received by the Parent Borrower or any of its
      Subsidiaries (other than Foreign Subsidiaries (to the extent that the
      Parent Borrower's obligations would be secured by a pledge of such
      securities or other property) and any Insurance Subsidiary) is, to the
      extent required under the Guarantee and Collateral Agreement, pledged to
      the Administrative Agent for the benefit of the Lenders pursuant to the
      Security Documents, and provided, further, that in the event that the
      aggregate expected value of such securities or other property received
      with respect to a Person is less than $250,000, the Parent Borrower or
      such Subsidiary may, rather than pledge such securities and other property
      to the Administrative Agent, dispose of such securities and other property
      within 180 days of the receipt thereof so long as the Net Cash Proceeds of
      such Disposition are utilized to prepay the Loans pursuant to subsection
      4.4(c), and any such securities and other property not so disposed of by
      such 180th day shall, to the extent required under the Guarantee and
      Collateral Agreement, be pledged to the Administrative Agent for the
      benefit of the Lenders pursuant to the Security Documents;

            (n) loans and advances to Management Investors in connection with
      the purchase by such Management Investors of Capital Stock of Holding of
      up to $10,000,000 outstanding at any one

<PAGE>
                                                                              99

      time, provided that such amount shall be reduced by the aggregate
      principal amount of Indebtedness in respect of Guarantee Obligations
      permitted by subsection 8.4(b);

            (o) loans of up to $20,000,000 outstanding at any one time to Agents
      and Owner/Operators in the ordinary course of business for working capital
      purposes, provided that such amount shall be reduced by the aggregate
      principal amount of loans and advances in respect of Guarantee Obligations
      permitted by subsection 8.4(l);

            (p) advances to Agents and Owner/Operators in the ordinary course of
      business for working capital purposes;

            (q) Investments by the Parent Borrower and its Subsidiaries
      represented by any Financing Lease or conditional sale of equipment by the
      Parent Borrower or any of its Subsidiaries to Agents or Owner/Operators;

            (r) Investments constituting, or acquired with amounts constituting,
      reserves or surplus maintained by any Insurance Subsidiary in accordance
      with any Requirement of Law in respect of obligations pursuant to
      insurance policies issued by such Insurance Subsidiary in the ordinary
      course of its insurance business;

            (s) loans and advances by the Parent Borrower or any of its
      Subsidiaries to Holding expressly permitted by subsection 8.7; and

            (t) Investments not otherwise permitted by the preceding clauses of
      this subsection 8.9 not to exceed in the aggregate $10,000,000.

            8.10 Limitations on Certain Acquisitions. Acquire by purchase or
otherwise all the business or assets of, or stock or other evidences of
beneficial ownership of, any Person, except that the Parent Borrower and its
Subsidiaries shall be allowed to make any such acquisitions so long as:

            (a) such acquisition is expressly permitted by subsection 8.5;

            (b) the aggregate consideration (including cash and any Indebtedness
      assumed in connection with such acquisitions) for all such acquisitions
      made pursuant to this clause (b) since the Effective Date does not exceed
      $35,000,000;

            (c) (i) such acquisition is made at a time when the Senior Debt
      Ratio, calculated on a pro forma basis after giving effect to such
      acquisition (such calculation to be made in a manner reasonably
      satisfactory to the Administrative Agent and to be evidenced by a
      certificate in form and substance reasonably satisfactory to the
      Administrative Agent signed by a Responsible Officer of the Parent
      Borrower and delivered to the Administrative Agent (which shall promptly
      deliver copies to each Lender) at least three Business Days prior to the
      consummation of such acquisition), is less than 2.50 to 1.00 and the
      Leverage Ratio (calculated on a pro forma basis in the manner set forth
      above with respect to the Senior Debt Ratio) is less than 4.00 to 1.00 and
      (ii) the aggregate consideration

<PAGE>
                                                                             100

      (including cash and any Indebtedness assumed in connection with such
      acquisitions) for all such acquisitions pursuant to this clause (c) since
      the Effective Date does not exceed $75,000,000; or

            (d) the aggregate consideration for such acquisition consists
      exclusively of Capital Stock thereof and no Indebtedness is assumed by the
      Parent Borrower and or any of its Subsidiaries in connection with any such
      acquisition pursuant to this clause (d);

provided in each case that, (x) the target of such acquisition has positive
EBITDA, calculated on a pro forma basis after giving effect to such acquisition
(such calculation to be made in a manner reasonably satisfactory to the
Administrative Agent and to be evidenced by a certificate in form and substance
reasonably satisfactory to the Administrative Agent signed by a Responsible
Officer of the Parent Borrower and delivered to the Administrative Agent (which
shall promptly deliver copies to each Lender) at least three Business Days prior
to the consummation of such acquisition) and (y) after giving effect thereto, no
Default or Event of Default shall occur as a result of such acquisition.

            8.11 Limitation on Transactions with Affiliates. Enter into any
transaction, including, without limitation, any purchase, sale, lease or
exchange of property or the rendering of any service, with any Affiliate of the
Parent Borrower unless such transaction is (a) otherwise permitted under this
Agreement, and (b) upon terms no less favorable to the Parent Borrower or such
Subsidiary, as the case may be, than it would obtain in a comparable arm's
length transaction with a Person which is not an Affiliate; provided that
nothing contained in this subsection 8.11 shall be deemed to prohibit:

                  (i) the Parent Borrower or any of its Subsidiaries from
      entering into or performing any consulting, management or employment
      agreements or other compensation arrangements with a director, officer or
      employee of Holding or any of its Subsidiaries, provided that the annual
      aggregate base compensation with respect to any such director, in its
      capacity as such, is not in excess of $200,000;

                  (ii) the Parent Borrower or any of its Subsidiaries from
      entering into or performing an agreement with CD&R for the rendering of
      management consulting or financial advisory services for compensation not
      to exceed in the aggregate $1,000,000 per year plus reasonable
      out-of-pocket expenses;

                  (iii) the payment of transaction expenses in connection with
      this Agreement, the Acquisition and the other transactions related hereto
      and thereto (including, without limitation, a transaction fee to CD&R in
      an amount not to exceed $5,000,000);

                  (iv) the Parent Borrower or any of its Subsidiaries from
      entering into, making payments pursuant to and otherwise performing an
      indemnification and contribution agreement in favor of CD&R, CD&R Fund V,
      the Affiliates thereof and each person who becomes a director, officer,
      agent or employee of Holding, the Parent Borrower or any of their
      respective Subsidiaries, in respect of liabilities (A) arising under the
      Securities Act, the Exchange Act and any other applicable securities laws
      or otherwise, in connection with any offering of securities by Holding or
      any of its Subsidiaries, (B) incurred to third parties for any action or
      failure to act of Holding or any of its Subsidiaries, predecessors or
      successors, (C) arising out of the performance by CD&R of

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      management consulting or financial advisory services provided to Holding
      or any of its Subsidiaries, (D) arising out of the fact that any
      indemnitee was or is a director, officer, agent or employee of Holding or
      any of its Subsidiaries, or is or was serving at the request of any such
      corporation as a director, officer, employee or agent of another
      corporation, partnership, joint venture, trust or enterprise or (E) to the
      fullest extent permitted by Delaware or other applicable state law, out of
      any breach or alleged breach by such indemnitee of his or her fiduciary
      duty as a director or officer of Holding or any of its Subsidiaries;

                  (v) the Parent Borrower or any of its Subsidiaries from
      performing any agreements or commitments with or to any Affiliate existing
      on the Effective Date and described on Schedule 8.11(v); or

                  (vi) any transaction permitted under subsection 8.3(k),
      8.4(b), 8.4(d), 8.4(f), 8.5, 8.7, 8.9(e), 8.9(n), 8.9(o), 8.9(p) or
      8.9(q), or any transaction with a Wholly Owned Subsidiary of the Parent
      Borrower.

For purposes of this subsection 8.11, (A) any transaction with any Affiliate
shall be deemed to have satisfied the standard set forth in subparagraph (b) of
the first sentence hereof if (i) such transaction is approved by a majority of
the Disinterested Directors of the Board of Directors of the Parent Borrower or
the applicable Subsidiary, or (ii) in the event that at the time of any such
transaction, there are no Disinterested Directors serving on the Board of
Directors of the Parent Borrower or such Subsidiary, such transaction shall be
approved by a nationally recognized expert with expertise in appraising the
terms and conditions of the type of transaction for which approval is required,
and (B) "Disinterested Director" shall mean, with respect to any Person and
transaction, a member of the Board of Directors of such Person who does not have
any material direct or indirect financial interest in or with respect to such
transaction.

            8.12 Limitation on Sales and Leasebacks. Enter into any arrangement
with any Person providing for the leasing by the Parent Borrower or any
Subsidiary of real or personal property which has been or is to be sold or
transferred by the Parent Borrower or such Subsidiary to such Person or to any
other Person to whom funds have been or are to be advanced by such Person on the
security of such property or rental obligations of the Parent Borrower or such
Subsidiary (any of such arrangements, a "Sale and Leaseback Transaction"), other
than in connection with any Disposition permitted under subsection 8.6., unless
(a) in the case of any Financing Lease pursuant to such arrangement, the
incurrence of such Financing Lease is permitted under subsection 8.2 or (b) in
the case of any other lease pursuant to such arrangements, (i) the lease
payments thereunder will be treated as an operating expense for purposes of
determining EBITDA and (ii) the aggregate Net Cash Proceeds from all Sale and
Leaseback Transactions permitted by this clause (b) shall not during the term of
this Agreement exceed $30,000,000 plus the aggregate amount of such Net Cash
Proceeds applied to prepay the Loans pursuant to subsection 4.4(c).

            8.13 Limitations on Dispositions of Collateral. Convey, sell,
transfer, lease, or otherwise dispose of any of the Collateral, or attempt,
offer or contract to do so, except for (a) mergers, consolidations, sales,
leases, transfers or other Dispositions expressly permitted under subsection 8.5
and (b) sales or other Dispositions expressly permitted under subsection 8.6,
including sales of

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Inventory in the ordinary course of business; and the Administrative Agent
shall, and the Lenders hereby authorize the Administrative Agent to, execute
such releases of Liens and take such other actions as the Parent Borrower may
reasonably request in connection with the foregoing.

            8.14 Limitation on Changes in Fiscal Year. Permit the fiscal year of
Holding, the Parent Borrower or any of its Subsidiaries to end on a day other
than the last Saturday of December or the last day of December.

            8.15 Limitation on Negative Pledge Clauses. Enter into with any
Person any agreement, other than (a) this Agreement and the other Loan Documents
and (b) any industrial revenue or development bonds, purchase money mortgages,
acquisition agreements or Financing Leases or agreements in connection with any
Permitted Receivables Securitization permitted by this Agreement (in which
cases, any prohibition or limitation shall only be effective against the assets
financed or acquired thereby) or operating leases of real property entered into
in the ordinary course of business, which prohibits or limits the ability of the
Parent Borrower or any of its Subsidiaries (other than Foreign Subsidiaries and
Insurance Subsidiaries) to create, incur, assume or suffer to exist any Lien in
favor of the Lenders with respect to the obligations secured by the Security
Documents upon any of its property, assets or revenues, whether now owned or
hereafter acquired.

            8.16 Limitation on Lines of Business; Creation of Subsidiaries. (a)
Enter into any business, either directly or through any Subsidiary, except for
those businesses of the same general type as those in which the Parent Borrower
and its Subsidiaries are engaged on the date of this Agreement or which are
related thereto, or permit any Insurance Subsidiary to engage in any business
other than the operation of a multiple-line property and liability insurance
program under the insurance laws of the States of Indiana and Illinois and
Ireland to insure Agents and Owner/Operators against loss from certain risks.

            (b) Create any new Subsidiaries of the Parent Borrower other than
(i) any Receivables Subsidiary the relevant parent corporation of which shall
execute and deliver a stock pledge agreement and deliver or cause to be
delivered to the Administrative Agent the stock certificates representing all of
the outstanding Capital Stock of such new Receivables Subsidiary, together with
undated stock powers for each such certificate executed in blank by a duly
authorized officer of such parent corporation, or (ii) any other new Subsidiary
that (in the case of a new Domestic Subsidiary or a new Foreign Subsidiary
Borrower) shall execute and deliver to the Administrative Agent, as applicable,
the Guarantee and Collateral Agreement and appropriate Mortgages and other
security documents and take any necessary steps to perfect the security interest
to be created thereby and for which the relevant parent corporation (if such
parent corporation is the Parent Borrower or a Domestic Subsidiary) shall
execute and deliver to the Administrative Agent a stock pledge agreement and
take any necessary steps to perfect the security interest to be created thereby
(which security interest shall not apply to more than 65% of such parent
corporation's ownership interest in any Foreign Subsidiary Borrower).

            8.17 Limitation on Optional Payments and Modifications of Debt
Instruments and other Material Agreements. (a) Make any optional payment,
prepayment, repurchase or redemption of the Senior Subordinated Notes or make
any payments on account of or for a sinking or other analogous fund for the
repurchase, redemption, defeasance or other acquisition thereof (other than
scheduled

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payments of principal and interest and payments of, in each case, fees and
expenses required by the Senior Subordinated Notes or the Senior Subordinated
Note Indenture, only to the extent permitted under the subordination provisions,
if any, applicable thereto).

            (b) Make any amendment, supplement, modification or waiver of any of
the terms of the Senior Subordinated Notes or the Senior Subordinated Note
Indenture (i) which amends or modifies the subordination provisions contained in
the Senior Subordinated Notes or the Senior Subordinated Note Indenture, (ii)
which shortens the fixed maturity or increases the principal amount of, or
increases the rate or shortens the time of payment of interest on, or increases
the amount or shortens the time of payment of any principal or premium payable
whether at maturity, at a date fixed for prepayment or by acceleration or
otherwise of the Indebtedness evidenced by the Senior Subordinated Notes or
increases the amount of, or accelerates the time of payment of, any fees or
other amounts payable to any holder thereof in connection therewith, (iii) which
relates to any material affirmative or negative covenants or any events of
default or remedies thereunder and the effect of which, in the Parent Borrower's
good faith judgment, is to subject the Parent Borrower, or any of its
Subsidiaries, to any more onerous or more restrictive provisions or (iv) which
otherwise adversely affects, in the Parent Borrower's good faith judgment, the
interests of the Lenders as senior creditors with respect to the Senior
Subordinated Notes or the interests of the Lenders hereunder in any material
respect.

            (c) In the event of the occurrence of a Change of Control, make any
payment, prepayment, repurchase or redemption of any Senior Subordinated Notes,
or make any payments on account of or for a sinking or other analogous fund for
the repurchase, redemption, defeasance or other acquisition thereof, unless the
Parent Borrower and the other Borrowers shall have (i) made payment in full of
the Loans, all Reimbursement Obligations and any other amounts then due and
owing to any Lender or the Administrative Agent hereunder and under any Note and
cash collateralized the L/C Obligations on terms reasonably satisfactory to the
Administrative Agent or (ii) made an offer to pay the Loans, all Reimbursement
Obligations and any amounts then due and owing to each Lender and the
Administrative Agent hereunder and under any Note and to cash collateralize the
L/C Obligations in respect of each Lender and shall have made payment in full
thereof to each such Lender or the Administrative Agent which has accepted such
offer and cash collateralized the L/C Obligations in respect of each such Lender
which has accepted such offer.

            (d) Designate any Indebtedness (other than the obligations hereunder
and under the other Loan Documents) as "Designated Senior Indebtedness" for the
purposes of any Indenture.

                          SECTION 9. EVENTS OF DEFAULT

            If any of the following events shall occur and be continuing:

            (a) Any of the Borrowers shall fail to pay any principal of any Loan
      or any Reimbursement Obligation when due in accordance with the terms
      hereof; or any of the Borrowers shall fail to pay any interest on any
      Loan, or any other amount payable hereunder, within five days after any
      such interest or other amount becomes due in accordance with the terms
      hereof; or

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                                                                             104

            (b) Any representation or warranty made or deemed made by any Loan
      Party herein or in any other Loan Document (or in any amendment,
      modification or supplement hereto or thereto) or which is contained in any
      certificate furnished at any time by or on behalf of any Loan Party
      pursuant to this Agreement or any such other Loan Document shall prove to
      have been incorrect in any material respect on or as of the date made or
      deemed made; or

            (c) Any Loan Party shall default in the observance or performance of
      any agreement contained in (i) subsection 7.7(a), subsection 7.11 or
      Section 8 of this Agreement or (ii) Section 5.4 of the Guarantee and
      Collateral Agreement, and, in the case of a default in the observance or
      performance of its obligations under subsection 7.7(a) hereof, such
      default shall have continued unremedied for a period of two days after a
      Responsible Officer of the Parent Borrower shall have discovered or should
      have discovered such default; or

            (d) Any Loan Party shall default in the observance or performance of
      any other agreement contained in this Agreement or any other Loan Document
      (other than as provided in paragraphs (a) through (c) of this Section 9),
      and such default shall continue unremedied for a period ending on the
      earlier of (i) the date 32 days after a Responsible Officer of the Parent
      Borrower shall have discovered or should have discovered such default and
      (ii) the date 15 days after written notice has been given to the Parent
      Borrower by the Administrative Agent or the Required Lenders; or

            (e) Holding or any of its Subsidiaries shall (i) default in any
      payment of principal of or interest on any Indebtedness (other than the
      Holding Loan, the Loans and the Reimbursement Obligations) in excess of
      $7,500,000 or in the payment of any Guarantee Obligation in excess of
      $7,500,000, beyond the period of grace (not to exceed 30 days), if any,
      provided in the instrument or agreement under which such Indebtedness or
      Guarantee Obligation was created; or (ii) default in the observance or
      performance of any other agreement or condition relating to any
      Indebtedness or Guarantee Obligation referred to in clause (i) above or
      contained in any instrument or agreement evidencing, securing or relating
      thereto, or any other event shall occur or condition exist, the effect of
      which default or other event or condition is to cause, or to permit the
      holder or holders of such Indebtedness or beneficiary or beneficiaries of
      such Guarantee Obligation (or a trustee or agent on behalf of such holder
      or holders or beneficiary or beneficiaries) to cause, with the giving of
      notice or lapse of time if required, such Indebtedness to become due prior
      to its stated maturity or such Guarantee Obligation to become payable (an
      "Acceleration"), and such time shall have lapsed and, if any notice (a
      "Default Notice") shall be required to commence a grace period or declare
      the occurrence of an event of default before notice of Acceleration may be
      delivered, such Default Notice shall have been given; or

            (f) (i) Holding, any Borrower or any Material Subsidiary shall
      commence any case, proceeding or other action (A) under any existing or
      future law of any jurisdiction, domestic or foreign, relating to
      bankruptcy, insolvency, reorganization or relief of debtors, seeking to
      have an order for relief entered with respect to it, or seeking to
      adjudicate it a bankrupt or insolvent, or seeking reorganization,
      arrangement, adjustment, winding-up, liquidation, dissolution, composition
      or other relief with respect to it or its debts, or (B) seeking
      appointment of a receiver, trustee, custodian, conservator or other
      similar official for it or for all or any substantial part of its assets,
      or Holding, any Borrower or any Material Subsidiary shall make a general
      assignment for the benefit of

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                                                                             105

      its creditors; or (ii) there shall be commenced against Holding, any
      Borrower or any Material Subsidiary any case, proceeding or other action
      of a nature referred to in clause (i) above which (A) results in the entry
      of an order for relief or any such adjudication or appointment or (B)
      remains undismissed, undischarged, unstayed or unbonded for a period of 60
      days; or (iii) there shall be commenced against Holding, any Borrower or
      any Material Subsidiary any case, proceeding or other action seeking
      issuance of a warrant of attachment, execution, distraint or similar
      process against all or any substantial part of its assets which results in
      the entry of an order for any such relief which shall not have been
      vacated, discharged, stayed or bonded pending appeal within 60 days from
      the entry thereof; or (iv) Holding, any Borrower or any Material
      Subsidiary shall take any corporate action in furtherance of, or
      indicating its consent to, approval of, or acquiescence in, any of the
      acts set forth in clause (i), (ii), or (iii) above; or (v) Holding, any
      Borrower or any Material Subsidiary shall be generally unable to, or shall
      admit in writing its general inability to, pay its debts as they become
      due; or

            (g) (i) Any Person shall engage in any "prohibited transaction" (as
      defined in Section 406 of ERISA or Section 4975 of the Code) involving any
      Plan, (ii) any "accumulated funding deficiency" (as defined in Section 302
      of ERISA), whether or not waived, shall exist with respect to any Plan or
      any Lien in favor of the PBGC or a Plan shall arise on the assets of the
      Parent Borrower or any Commonly Controlled Entity, (iii) a Reportable
      Event shall occur with respect to, or proceedings shall commence to have a
      trustee appointed, or a trustee shall be appointed, to administer or to
      terminate, any Single Employer Plan, which Reportable Event or
      commencement of proceedings or appointment of a trustee is reasonably
      likely to result in the termination of such Plan for purposes of Title IV
      of ERISA (other than a standard termination pursuant to Section 4041(b) of
      ERISA), (iv) any Single Employer Plan shall terminate for purposes of
      Title IV of ERISA, (v) the Parent Borrower or any Commonly Controlled
      Entity shall, or is reasonably likely to, incur any liability in
      connection with a withdrawal from, or the Insolvency or Reorganization of,
      a Multiemployer Plan, (vi) the occurrence or expected occurrence of any
      event or condition which results or is reasonably likely to result in the
      Parent Borrower's or any Commonly Controlled Entity's becoming responsible
      for any liability in respect of a Former Plan, or (vii) any other event or
      condition shall occur or exist with respect to a Plan; and in each case in
      clauses (i) through (vii) above, such event or condition, together with
      all other such events or conditions, if any, would be reasonably expected
      to result in liability which would have a Material Adverse Effect; or

            (h) One or more judgments or decrees shall be entered against
      Holding or any of its Subsidiaries involving in the aggregate at any time
      a liability (net of any insurance or indemnity payments actually received
      in respect thereof prior to or within 60 days from the entry thereof, or
      to be received in respect thereof in the event any appeal thereof shall be
      unsuccessful) of $7,500,000 or more, and all such judgments or decrees
      shall not have been vacated, discharged, stayed or bonded pending appeal
      within 60 days from the entry thereof; or

            (i) (i) Any of the Security Documents shall cease for any reason to
      be in full force and effect (other than pursuant to the terms hereof or
      thereof), or any Loan Party which is a party to any of the Security
      Documents shall so assert in writing, or (ii) the Lien created by any of
      the Security Documents shall cease to be perfected and enforceable in
      accordance with its terms or of the same effect as to perfection and
      priority purported to be created thereby with respect to any significant

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      portion of the Collateral (other than in connection with any termination
      of such Lien in respect of any Collateral as permitted hereby or by any
      Security Document), and such failure of such Lien to be perfected and
      enforceable with such priority shall have continued unremedied for a
      period of 20 days; or

            (j) Any Guarantee shall cease for any reason to be in full force and
      effect (other than pursuant to the terms hereof or thereof) or any
      Guarantor shall so assert in writing; or

            (k) The Senior Subordinated Notes or the guarantees thereof, for any
      reason, shall not be or shall cease to be validly subordinated as provided
      therein and in the Senior Subordinated Note Indenture to the monetary
      obligations of the Parent Borrower and its Subsidiaries under this
      Agreement, any Notes and the other Loan Documents; or

            (l) A Change of Control shall have occurred; or

            (m) Any event entitling the Persons financing Receivables pursuant
      to a Permitted Receivables Securitization to stop financing such
      Receivables shall have occurred and be continuing and such Person shall
      have stopped financing such Receivables; or

            (n) Any Loan Document (other than this Agreement, any of the
      Security Documents or any Guarantee) shall cease for any reason to be in
      full force and effect (other than pursuant to the terms hereof or thereof)
      or any Loan Party shall so assert in writing;

then, and in any such event, (A) if such event is an Event of Default specified
in clause (i) or (ii) of paragraph (f) above with respect to any Borrower,
automatically the Revolving Credit Commitments shall immediately terminate and
the Loans hereunder (with accrued interest thereon) and all other amounts owing
under this Agreement (including, without limitation, all amounts of L/C
Obligations, whether or not the beneficiaries of the then outstanding Letters of
Credit shall have presented the documents required thereunder) and any Notes
shall immediately become due and payable, and (B) if such event is any other
Event of Default, either or both of the following actions may be taken: (i) with
the consent of the Required Lenders, the Administrative Agent may, or upon the
request of the Required Lenders, the Administrative Agent shall, by notice to
the Parent Borrower, declare the Revolving Credit Commitments to be terminated
forthwith, whereupon the Revolving Credit Commitments shall immediately
terminate; and (ii) with the consent of the Required Lenders, the Administrative
Agent may, or upon the request of the Required Lenders, the Administrative Agent
shall, by notice to the Parent Borrower, declare the Loans hereunder (with
accrued interest thereon) and all other amounts owing under this Agreement
(including, without limitation, all amounts of L/C Obligations, whether or not
the beneficiaries of the then outstanding Letters of Credit shall have presented
the documents required thereunder) and any Notes to be due and payable
forthwith, whereupon the same shall immediately become due and payable.

            With respect to any Letter of Credit with respect to which
presentment for honor shall not have occurred at the time of an acceleration
pursuant to the preceding paragraph, the applicable Borrower in respect of such
Letter of Credit shall at such time deposit in a cash collateral account opened
by the Administrative Agent an amount equal to the aggregate then undrawn and
unexpired

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amount of such Letter of Credit. Each Borrower hereby grants to the
Administrative Agent, for the benefit of the Issuing Lender and the L/C
Participants, a security interest in such cash collateral to secure all
obligations of such Borrower in respect of such Letter of Credit under this
Agreement and the other Loan Documents. Each Borrower shall execute and deliver
to the Administrative Agent, for the account of the Issuing Lender and the L/C
Participants, such further documents and instruments as the Administrative Agent
may request to evidence the creation and perfection of such security interest in
such cash collateral account. Amounts held in such cash collateral account shall
be applied by the Administrative Agent to the payment of drafts drawn under such
Letter of Credit, and the unused portion thereof after all such Letters of
Credit shall have expired or been fully drawn upon, if any, shall be applied to
repay other obligations of the Borrowers hereunder and under any Notes. After
all such Letters of Credit shall have expired or been fully drawn upon, all
Reimbursement Obligations shall have been satisfied and all other obligations of
the Borrowers hereunder and under any Notes shall have been paid in full, the
balance, if any, in such cash collateral account shall be returned to the
Borrowers.

            Except as expressly provided above in this Section, presentment,
demand, protest and all other notices of any kind are hereby expressly waived.

       SECTION 10. THE ADMINISTRATIVE AGENT AND THE OTHER REPRESENTATIVES

            10.1 Appointment. Each Lender hereby irrevocably designates and
appoints Chase as the Administrative Agent of such Lender under this Agreement
and the other Loan Documents, and each such Lender irrevocably authorizes Chase,
as the Administrative Agent for such Lender, to take such action on its behalf
under the provisions of this Agreement and the other Loan Documents and to
exercise such powers and perform such duties as are expressly delegated to the
Administrative Agent by the terms of this Agreement and the other Loan
Documents, together with such other powers as are reasonably incidental thereto.
Notwithstanding any provision to the contrary elsewhere in this Agreement, the
Administrative Agent and the Other Representatives shall not have any duties or
responsibilities, except, in the case of the Administrative Agent and the Other
Representatives, those expressly set forth herein, or any fiduciary relationship
with any Lender, and no implied covenants, functions, responsibilities, duties,
obligations or liabilities shall be read into this Agreement or any other Loan
Document or otherwise exist against the Administrative Agent or the Other
Representatives.

            10.2 Delegation of Duties. The Administrative Agent may execute any
of its duties under this Agreement and the other Loan Documents by or through
agents or attorneys-in-fact, and shall be entitled to advice of counsel
concerning all matters pertaining to such duties. The Administrative Agent shall
not be responsible for the negligence or misconduct of any agents or
attorneys-in-fact or counsel selected by it with reasonable care.

            10.3 Exculpatory Provisions. None of the Administrative Agent or any
Other Representative nor any of their officers, directors, employees, agents,
attorneys-in-fact or affiliates shall be (i) liable for any action lawfully
taken or omitted to be taken by such Person under or in connection with this
Agreement or any other Loan Document (except for the gross negligence or willful
misconduct of such Person or any of its officers, directors, employees, agents,
attorneys-in-fact or affiliates) or (ii) responsible in any manner to any of the
Lenders for any recitals, statements,

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                                                                             108

representations or warranties made by any Borrower or any other Loan Party or
any officer thereof contained in this Agreement or any other Loan Document or in
any certificate, report, statement or other document referred to or provided for
in, or received by the Administrative Agent under or in connection with, this
Agreement or any other Loan Document or for the value, validity, effectiveness,
genuineness, enforceability or sufficiency of this Agreement or any Notes or any
other Loan Document or for any failure of any Borrower or any other Loan Party
to perform its obligations hereunder or thereunder. Neither the Administrative
Agent nor any Other Representative shall be under any obligation to any Lender
to ascertain or to inquire as to the observance or performance of any of the
agreements contained in, or conditions of, this Agreement or any other Loan
Document, or to inspect the properties, books or records of any Borrower or any
other Loan Party. Each Lender agrees that, except for notices, reports and other
documents expressly required to be furnished to the Lenders by the
Administrative Agent hereunder or given to the Administrative Agent for the
account of or with copies for the Lenders, the Administrative Agent and the
Other Representatives shall not have any duty or responsibility to provide any
Lender with any credit or other information concerning the business, operations,
property, condition (financial or otherwise), prospects or creditworthiness of
any Borrower or any other Loan Party which may come into the possession of the
Administrative Agent and the Other Representatives or any of their officers,
directors, employees, agents, attorneys-in-fact or affiliates.

            10.4 Reliance by Administrative Agent. The Administrative Agent
shall be entitled to rely, and shall be fully protected in relying, upon any
Note, writing, resolution, notice, consent, certificate, affidavit, letter,
telecopy, telex or teletype message, statement, order or other document or
conversation believed by it to be genuine and correct and to have been signed,
sent or made by the proper Person or Persons and upon advice and statements of
legal counsel (including, without limitation, counsel to the Borrowers),
independent accountants and other experts selected by the Administrative Agent.
The Administrative Agent may deem and treat the payee of any Note as the owner
thereof for all purposes unless a written notice of assignment, negotiation or
transfer thereof shall have been filed with the Administrative Agent. The
Administrative Agent shall be fully justified as between itself and the Lenders
in failing or refusing to take any action under this Agreement or any other Loan
Document unless it shall first receive such advice or concurrence of the
Required Lenders and/or such other requisite percentage of the Lenders as is
required pursuant to subsection 11.1 as it deems appropriate or it shall first
be indemnified to its satisfaction by the Lenders against any and all liability
and expense which may be incurred by it by reason of taking or continuing to
take any such action. The Administrative Agent shall in all cases be fully
protected in acting, or in refraining from acting, under this Agreement and any
Notes and the other Loan Documents in accordance with a request of the Required
Lenders and/or such other requisite percentage of the Lenders as is required
pursuant to subsection 11.1, and such request and any action taken or failure to
act pursuant thereto shall be binding upon all the Lenders and all future
holders of the Loans.

            10.5 Notice of Default. The Administrative Agent shall not be deemed
to have knowledge or notice of the occurrence of any Default or Event of Default
hereunder unless the Administrative Agent has received notice from a Lender or
the Parent Borrower referring to this Agreement, describing such Default or
Event of Default and stating that such notice is a "notice of default". In the
event that the Administrative Agent receives such a notice, the Administrative
Agent shall give notice thereof to the Lenders. The Administrative Agent shall
take such action reasonably promptly with respect to such Default or Event of
Default as shall be directed by the Required Lenders and/or such other requisite

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percentage of the Lenders as is required pursuant to subsection 11.1; 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 or
Event of Default as it shall deem advisable in the best interests of the
Lenders.

            10.6 Acknowledgments and Representations by Lenders. Each Lender
expressly acknowledges that none of the Administrative Agent or the Other
Representatives nor any of their officers, directors, employees, agents,
attorneys-in-fact or affiliates has made any representations or warranties to it
and that no act by the Administrative Agent or any Other Representative
hereafter taken, including any review of the affairs of any Borrower or any
other Loan Party, shall be deemed to constitute any representation or warranty
by the Administrative Agent or such Other Representative to any Lender. Each
Lender represents to the Administrative Agent, the Other Representatives and
each of the Loan Parties that, independently and without reliance upon the
Administrative Agent, the Other Representatives or any other Lender, and based
on such documents and information as it has deemed appropriate, it has made and
will make its own appraisal of and investigation into the business, operations,
property, financial and other condition and creditworthiness of each of the
Borrowers and the other Loan Parties, it has made its own decision to make its
Loans hereunder and enter into this Agreement and it will make its own decisions
in taking or not taking action under this Agreement and the other Loan
Documents. Each Lender represents to each other party hereto that it is a bank,
savings and loan association or other similar savings institution, insurance
company, investment fund or company or other financial institution which makes
or acquires commercial loans in the ordinary course of its business, that it is
participating hereunder as a Lender for its account and for such commercial
purposes, and that it has the knowledge and experience to be and is capable of
evaluating the merits and risks of being a Lender hereunder. Each Lender
acknowledges and agrees to comply with the provisions of subsection 11.6
applicable to the Lenders. Except for notices, reports and other documents
expressly required to be furnished to the Lenders by the Administrative Agent
hereunder or given to the Administrative Agent for the account of or with copies
for the Lenders, the Administrative Agent shall not have any duty or
responsibility to provide any Lender with any credit or other information
concerning the business, operations, property, condition (financial or
otherwise), prospects or creditworthiness of any Borrower or any other Loan
Party which may come into the possession of the Administrative Agent or any of
its officers, directors, employees, agents, attorneys-in-fact or affiliates.

            10.7 Indemnification. The Lenders agree to indemnify the
Administrative Agent and the Other Representatives (provided that the Term Loan
Lenders shall have no obligation to indemnify the Issuing Lender) in their
capacities as such (to the extent not reimbursed by the Parent Borrower and
without limiting the obligation of the Parent Borrower or any of the other Loan
Parties to do so), ratably according to their respective Total Credit
Percentages in effect on the date on which indemnification is sought under this
subsection (or, if indemnification is sought after the date upon which the
Revolving Credit Commitments shall have terminated and the Loans shall have been
paid in full, ratably in accordance with their Total Credit Percentages
immediately prior to such date), from and against any and all liabilities,
obligations, losses, damages, penalties, actions, judgments, suits, costs,
expenses or disbursements of any kind whatsoever which may at any time
(including, without limitation, at any time following the payment of the Loans)
be imposed on, incurred by or asserted against the Administrative Agent or any
Other Representative in any way relating to or arising out of this

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Agreement, any of the other Loan Documents or any documents contemplated by or
referred to herein or therein or the transactions contemplated hereby or thereby
or any action taken or omitted by the Administrative Agent or any Other
Representative under or in connection with any of the foregoing; provided that
no Lender shall be liable for the payment of any portion of such liabilities,
obligations, losses, damages, penalties, actions, judgments, suits, costs,
expenses or disbursements to the extent resulting from the Administrative
Agent's or any Other Representative's gross negligence or willful misconduct.
The obligations to indemnify the Issuing Lender shall be ratable among the
Revolving Credit Lenders in accordance with their respective Revolving Credit
Commitments (or, if the Revolving Credit Commitments have been terminated, the
outstanding principal amount of their respective Revolving Credit Loans and L/C
Obligations and their respective participating interests in the outstanding
Letters of Credit). The agreements in this subsection shall survive the payment
of the Loans and all other amounts payable hereunder.

            10.8 Administrative Agent and Other Representatives in Their
Respective Individual Capacities. The Administrative Agent, the Other
Representatives and their affiliates may make loans to, accept deposits from and
generally engage in any kind of business with any Borrower or any other Loan
Party as though the Administrative Agent and the Other Representatives were not
the Administrative Agent and the Other Representatives hereunder and under the
other Loan Documents. With respect to Loans made or renewed by them and any Note
issued to them and with respect to any Letter of Credit issued or participated
in by them, the Administrative Agent and the Other Representatives shall have
the same rights and powers under this Agreement and the other Loan Documents as
any Lender and may exercise the same as though they were not the Administrative
Agent or an Other Representative, and the terms "Lender" and "Lenders" shall
include the Administrative Agent in its individual capacity.

            10.9 Successor Administrative Agent. The Administrative Agent may
resign as Administrative Agent upon 10 days' notice to the Lenders. If the
Administrative Agent shall resign as Administrative Agent under this Agreement
and the other Loan Documents, then the Required Lenders shall appoint from among
the Lenders a successor agent for the Lenders, which successor agent shall be
approved by the Parent Borrower (such approval not to be unreasonably withheld),
whereupon such successor agent shall succeed to the rights, powers and duties of
the Administrative Agent, and the term "Administrative Agent" shall mean such
successor agent effective upon such appointment and approval, and the former
Administrative Agent's rights, powers and duties as Administrative Agent shall
be terminated, without any other or further act or deed on the part of such
former Administrative Agent or any of the parties to this Agreement or any
holders of the Loans. After any retiring Administrative Agent's resignation as
Administrative Agent, the provisions of this subsection shall inure to its
benefit as to any actions taken or omitted to be taken by it while it was
Administrative Agent under this Agreement and the other Loan Documents.

            10.10 Swing Line Lender. The provisions of this Section 10 shall
apply to the Swing Line Lender in its capacity as such to the same extent that
such provisions apply to the Administrative Agent.

            10.11 Release of Liens in Connection with Permitted Receivables
Securitization. In connection with a Permitted Receivables Securitization, the
Parent Borrower may deliver to the Administrative Agent a written request for
release identifying the relevant Receivables and the terms of such Permitted
Receivables Securitization in reasonable detail together with a certification by
the Parent

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                                                                             111

Borrower stating that such transaction is in compliance with this Agreement. The
Administrative Agent shall execute and deliver to the Parent Borrower (at the
sole cost and expense of the Parent Borrower) all releases and other documents
(including, without limitation, Uniform Commercial Code termination statements)
necessary or reasonably desirable for the release of the Liens created by the
Guarantee and Collateral Agreement on such Receivables as the Parent Borrower
may reasonably request, provided that the Loans have been prepaid and/or the
Revolving Credit Commitments shall have been reduced in accordance with
subsection 4.4. Each of the Lenders hereby authorizes the Administrative Agent
to deliver such releases or other documents.

                            SECTION 11. MISCELLANEOUS

            11.1 Amendments and Waivers. (a) Neither this Agreement nor any
other Loan Document, nor any terms hereof or thereof, may be amended,
supplemented or modified except in accordance with the provisions of this
subsection. The Required Lenders may, or, with the written consent of the
Required Lenders, the Administrative Agent may, from time to time, (1) enter
into with the Borrowers and the other Loan Parties, as the case may be, written
amendments, supplements or modifications hereto and to the other Loan Documents
for the purpose of adding any provisions to this Agreement or the other Loan
Documents or changing in any manner the rights or obligations of the Lenders or
of the Borrowers and the other Loan Parties, as the case may be, hereunder or
thereunder or (2) waive at the Parent Borrower's or another Loan Party's
request, on such terms and conditions as the Required Lenders or the
Administrative Agent, as the case may be, may specify in such instrument, any of
the requirements of this Agreement or the other Loan Documents or any Default or
Event of Default and its consequences; provided, however, that no such waiver
and no such amendment, supplement or modification shall:

                  (i) reduce the amount or extend the scheduled date of maturity
      of any Loan or any Reimbursement Obligation or of any scheduled
      installment thereof, or reduce the stated rate of any interest or fee
      payable hereunder or extend the scheduled date of any payment thereof or
      increase the amount or extend the expiration date of any Lender's
      Revolving Credit Commitment or change the currency in which any Loan or
      Reimbursement Obligation is payable, in each case without the consent of
      each Lender directly affected thereby,

                  (ii) amend, modify or waive any provision of this subsection
      11.1 or reduce the percentage specified in the definition of Required
      Lenders or of Required Release Lenders, or consent to the assignment or
      transfer by any Loan Party of any of its rights and obligations under this
      Agreement and the other Loan Documents (other than pursuant to subsection
      8.5 or 11.1(b)), in each case without the written consent of all the
      Lenders,

                  (iii) release any Guarantee or, in the aggregate, a material
      portion of the Collateral without the consent of the Required Release
      Lenders, except as expressly permitted hereby or by any Guarantee or
      Security Document (as such documents are in effect on the date hereof or,
      if later, the date of execution and delivery thereof in accordance with
      the terms hereof),

                  (iv) amend, modify or waive any provision of (x) subsection
      2.6 (to the extent such subsection 2.6 relates to the Tranche A Term
      Loans) or 2.7 without the written consent of

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                                                                             112

      Tranche A Term Loan Lenders, the Tranche A Term Loan Percentages of which
      aggregate at least 51% or (y) subsection 2.6 (to the extent such
      subsection 2.6 relates to the Tranche B Term Loans) or 2.8 without the
      written consent of Tranche B Term Loan Lenders the Tranche B Term Loan
      Percentages of which aggregate at least 51%,

                  (v) amend, modify or waive any provision of subsection 2.1,
      2.2, 2.3, 2.4 or 2.5 or Section 3 without the written consent of the
      Revolving Credit Lenders, the Revolving Credit Commitment Percentages of
      which aggregate at least 51%,

                  (vi) amend, modify or waive any provision of Section 10
      without the written consent of the then Administrative Agent and of any
      Other Representative affected thereby,

                  (vii) amend, modify or waive any prepayment required by
      subsection 4.4(c) or 4.4(d), or the order of application of prepayments
      specified in subsection 4.4(f), without the consent of (x) Revolving
      Credit Lenders, the Revolving Credit Commitment Percentages of which
      aggregate at least 51%, (y) Tranche A Term Loan Lenders, the Tranche A
      Term Loan Percentages of which aggregate at least 51% and (z) Tranche B
      Term Loan Lenders, the Tranche B Term Loan Percentages of which aggregate
      at least 51%,

                  (viii) amend, modify or waive any provision of subsection
      4.4(g) without the consent of Tranche B Term Loan Lenders, the Tranche B
      Term Loan Percentages of which aggregate at least 51%,

                  (ix) amend, modify or waive any provision of the Swing Line
      Note (if any) or subsection 2.5 without the written consent of the Swing
      Line Lender and each other Lender, if any, which holds a participation in
      the Swing Line Loan pursuant to subsection 2.5(d),

                  (x) amend, modify or waive the provisions of any Letter of
      Credit or any L/C Obligation without the written consent of the Issuing
      Lender and each affected L/C Participant,

                  (xi) amend, modify or waive any provision of any Security
      Document that provides for the ratable sharing by the Lenders of the
      proceeds of any realization on the Collateral to provide for a non-ratable
      sharing thereof, without the consent of (x) Revolving Credit Lenders the
      Revolving Credit Commitment Percentages of which aggregate at least 51%,
      (y) Tranche A Term Loan Lenders the Tranche A Term Loan Percentages of
      which aggregate at least 51% and (z) Tranche B Term Loan Lenders the
      Tranche B Term Loan Percentages of which aggregate at least 51%, or

                  (xii) require any Lender to make Loans having an Interest
      Period of longer than six months without the consent of such Lender.

Any waiver and any amendment, supplement or modification pursuant to this
subsection 11.1 shall apply to each of the Lenders and shall be binding upon the
Borrowers, the other Loan Parties, the Lenders, the Administrative Agent and all
future holders of the Loans. In the case of any waiver, the Borrowers, the other
Loan Parties, the Lenders and the Administrative Agent shall be restored to
their former position and rights hereunder and under the other Loan Documents,
and any Default or Event of

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                                                                             113

Default waived shall be deemed to be cured and not continuing; but no such
waiver shall extend to any subsequent or other Default or Event of Default, or
impair any right consequent thereon.

            (b) Schedule III and Schedule IV may be amended, so long as no
Default or Event of Default shall have occurred and be continuing, as follows:

                  (i) Schedule IV will be amended to add Subsidiaries as
      additional Foreign Subsidiary Borrowers upon (A) execution and delivery by
      the Parent Borrower, such additional Foreign Subsidiary Borrowers and the
      Administrative Agent, of a Joinder Agreement, substantially in the form of
      Exhibit K (a "Joinder Agreement"), providing for such Subsidiaries to
      become Foreign Subsidiary Borrowers hereunder and Granting Parties,
      Grantors and Pledgors under and as defined in the Guarantee and Collateral
      Agreement (or shall otherwise enter into collateral and security documents
      reasonably satisfactory to the Administrative Agent and providing, to the
      extent reasonably practicable under relevant law, substantially the
      equivalent of the lien and security interests contemplated to be provided
      by Granting Parties, Grantors and Pledgors under the Guarantee and
      Collateral Agreement), (B) delivery to the Administrative Agent of (w) in
      the case of any Foreign Subsidiary Borrower the Capital Stock of which is
      held by a Domestic Subsidiary, a stock pledge agreement (or, if the parent
      corporation of such Foreign Subsidiary Borrower is a party to the
      Guarantee and Collateral Agreement, a pledge pursuant to such agreement)
      covering the Capital Stock of such Foreign Subsidiary Borrower, together
      with any documents and instruments necessary to perfect the security
      interest to be created thereby (which pledge shall not apply to more than
      65% of such parent corporation's ownership interest in any such Foreign
      Subsidiary Borrower), (x) corporate resolutions, other corporate
      documents, certificates and legal opinions in respect of such additional
      Foreign Subsidiary Borrowers substantially equivalent to comparable
      documents delivered on the Effective Date in respect of the Foreign
      Subsidiary Borrowers party to this Agreement on the Effective Date or, if
      there are no Foreign Subsidiary Borrowers party to this Agreement on the
      Effective Date, in respect of the Loan Parties on the Effective Date, (y)
      a certificate of a Responsible Officer of the Parent Borrower stating that
      such Subsidiaries are "Restricted Subsidiaries" for all purposes of each
      of the Indentures and (z) such other documents with respect thereto as the
      Administrative Agent shall reasonably request, and (C) execution and
      delivery by the Parent Borrower, such Foreign Subsidiary Borrower, all of
      the Revolving Credit Lenders and the Administrative Agent of a written
      instrument providing for such amendment; provided that the Parent Borrower
      and its Subsidiaries shall not be required to comply with the requirements
      of the foregoing clauses (w), (x), (y) or (z) if the Administrative Agent,
      in its sole discretion, determines that the cost of such compliance is
      excessive in relation to the value of the collateral security to be
      afforded thereby; provided, further, that no document described in the
      foregoing clauses (w), (x), (y) or (z) shall be required, or the form of
      such document shall be modified, to the extent required to avoid (A) any
      violation of applicable law or (B) any violation of the provisions of any
      joint venture or other material agreement governing or binding such
      Domestic Subsidiary or other Subsidiary. Any Domestic Subsidiary or other
      Subsidiary that cannot execute such a document or whose document must be
      amended for the foregoing reasons shall promptly upon any change of law or
      waiver or lapse of the applicable contractual restriction enter into such
      document or amend the existing document to comply with this subsection
      11.1(b)(i) in a manner satisfactory to the Administrative Agent.

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                                                                             114

                  (ii) Schedule IV will be amended to remove any Subsidiary as a
      Foreign Subsidiary Borrower upon execution and delivery by the Parent
      Borrower to the Administrative Agent of a written notification to such
      effect and repayment in full of all Loans made to such Foreign Subsidiary
      Borrower, cash collateralization of all L/C Obligations in respect of
      Letters of Credit issued for the account of such Foreign Subsidiary
      Borrower and repayment in full of all other amounts owing by such Foreign
      Subsidiary Borrower under this Agreement and the other Loan Documents.

                  (iii) Schedule III will be amended to add additional
      Designated Foreign Currencies upon execution and delivery by the Parent
      Borrower, all of the Revolving Credit Lenders and the Administrative Agent
      of a written instrument providing for such amendment.

            (c) In order to permit the Borrowers to enter into a replacement
working capital facility as contemplated by subsection 8.2(h), on or after the
Termination Date the Administrative Agent and the Loan Parties shall execute
such documents, including, without limitation, such amendments to the Security
Documents and the other Loan Documents, and take such other actions, as shall be
necessary to afford the lenders under such replacement working capital facility
the substantive realization of the benefits intended to be created by such
documents in favor of the Revolving Credit Lenders. Each of the Lenders hereby
authorizes the Administrative Agent to execute such documents and take such
actions as are required by this subsection 11.1(c).

            11.2 Notices. All notices, requests and demands to or upon the
respective parties hereto to be effective shall be in writing (including by
telecopy), and, unless otherwise expressly provided herein, shall be deemed to
have been duly given or made when delivered by hand, or three days after being
deposited in the mail, postage prepaid, or, in the case of telecopy notice, when
received, or, in the case of delivery by a nationally recognized overnight
courier, when received, addressed as follows in the case of the Borrowers and
the Administrative Agent, and as set forth in Schedule I in the case of the
other parties hereto, or to such other address as may be hereafter notified by
the respective parties hereto and any future holders of the Loans:

   The Borrowers:          c/o North American Van Lines, Inc.
                           5001 U.S. Highway 30 West
                           P.O. Box 988
                           Fort Wayne, Indiana 46801-0988
                           Attention: General Counsel
                           Telecopy: (219) 429-3135
                           Telephone: (219) 429-2511

   with a copy to:         Debevoise & Plimpton
                           875 Third Avenue
                           New York, New York 10022
                           Attention: William Beekman, Esq.
                           Telecopy: (212) 909-6836
                           Telephone: (212) 909-6000

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                                                                             115

    The Administrative           The Chase Manhattan Bank
      Agent, the Swing           270 Park Avenue
      Line Lender and            New York, New York  10017
      the Issuing Lender         Attention: Richard W. Duker
                                 Telecopy: (212) 972-9854
                                 Telephone: (212) 270-3057

    with a copy to:              The Chase Manhattan Bank
                                 c/o The Loan & Agency Services Group
                                 One Chase Manhattan Plaza
                                 8th Floor
                                 New York, New York 10081
                                 Attention: Janet Belden
                                 Telecopy: (212) 552-5658
                                 Telephone: (212) 552-7277

    and, if to the Issuing       Chase Manhattan Bank Delaware
      Lender, with an            Corporate Banking Department
      additional copy to:        8th Floor
                                 1201 Market Street
                                 Wilmington, Delaware  19801
                                 Attention: Michael Handago
                                 Telecopy: (302) 428-3390
                                 Telephone: (302) 428-3311

provided that any notice, request or demand to or upon the Administrative Agent
or the Lenders pursuant to subsection 2.3, 2.9, 3.2, 4.2, 4.4 or 4.8 shall not
be effective until received.

            11.3 No Waiver; Cumulative Remedies. No failure to exercise and no
delay in exercising, on the part of the Administrative Agent, any Lender or any
Loan Party, any right, remedy, power or privilege hereunder or under the other
Loan Documents shall operate as a waiver thereof; nor shall any single or
partial exercise of any right, remedy, power or privilege hereunder preclude any
other or further exercise thereof or the exercise of any other right, remedy,
power or privilege. The rights, remedies, powers and privileges herein provided
are cumulative and not exclusive of any rights, remedies, powers and privileges
provided by law.

            11.4 Survival of Representations and Warranties. All representations
and warranties made hereunder and in the other Loan Documents (or in any
amendment, modification or supplement hereto or thereto) and in any certificate
delivered pursuant hereto or such other Loan Documents shall survive the
execution and delivery of this Agreement and the making of the Loans hereunder.

            11.5 Payment of Expenses and Taxes. The Parent Borrower agrees (a)
to pay or reimburse the Administrative Agent and the Other Representatives for
all their reasonable out-of-pocket costs and expenses incurred in connection
with the preparation, execution and delivery of, and any amendment, supplement,
waiver or modification to, this Agreement and the other Loan Documents and any
other

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                                                                             116

documents prepared in connection herewith or therewith, and the consummation and
administration of the transactions (including the syndication of the Revolving
Credit Commitments and Term Loans, the Administrative Agent's due diligence
investigation and any collateral audit) contemplated hereby and thereby,
including, without limitation, the reasonable fees and disbursements of one firm
of counsel and of local counsel to the Administrative Agent and the Other
Representatives, (b) to pay or reimburse each Lender, each Other Representative
and the Administrative Agent for all its respective reasonable costs and
expenses incurred in connection with the enforcement or preservation of any
rights under this Agreement, the other Loan Documents and any such other
documents, including, without limitation, the reasonable fees and disbursements
of one firm of counsel and of local counsel to the Administrative Agent, the
Other Representatives and the several Lenders, and any reasonable Environmental
Costs arising out of or in any way relating to any Loan Party or any property in
which any Loan Party has had any interest at any time, (c) to pay, and indemnify
and hold harmless each Lender, the Administrative Agent and the Other
Representatives from and against, any and all recording and filing fees and any
and all liabilities with respect to, or resulting from any delay in paying,
stamp, excise and other similar taxes, if any, which may be payable or
determined to be payable in connection with the execution and delivery of, or
consummation or administration of any of the transactions contemplated by, or
any amendment, supplement or modification of, or any waiver or consent under or
in respect of, this Agreement, the other Loan Documents and any such other
documents, and (d) to pay, and indemnify and hold harmless each Lender, the
Administrative Agent and the Other Representatives (and their respective
directors, trustees, officers, employees, agents, successors and assigns) from
and against, any and all other liabilities, obligations, losses, damages,
penalties, actions, judgments, suits, costs, expenses or disbursements of any
kind or nature whatsoever (whether or not caused by any such Person's own
negligence (other than gross negligence) and including, without limitation, the
reasonable fees and disbursements of counsel) with respect to the execution,
delivery, enforcement, performance and administration of this Agreement, the
other Loan Documents and any such other documents (regardless of whether the
Administrative Agent, any such Other Representative or any Lender is a party to
the litigation or other proceeding giving rise thereto), including, without
limitation, any of the foregoing relating to the use of proceeds of the Loans or
the violation of, noncompliance with, or liability under, any Environmental Laws
or any orders, requirements or demands of Governmental Authorities related
thereto applicable to the operations of the Parent Borrower, any of its
Subsidiaries or any of the Properties (all the foregoing in this clause (d),
collectively, the "Indemnified Liabilities"), provided that the Parent Borrower
shall not have any obligation hereunder to the Administrative Agent, any such
Other Representative or any Lender with respect to Environmental Costs or
Indemnified Liabilities arising from (i) the gross negligence or willful
misconduct of the Administrative Agent, any Other Representative or any such
Lender (or any of their respective directors, officers, employees, agents,
successors and assigns) or (ii) legal proceedings commenced against the
Administrative Agent, any Other Representative or any such Lender by any
securityholder or creditor thereof arising out of and based upon rights afforded
any such securityholder or creditor solely in its capacity as such.
Notwithstanding the foregoing, except as provided in clauses (b) and (c) above,
the Parent Borrower shall have no obligation under this subsection 11.5 to the
Administrative Agent, any Other Representative or any Lender with respect to any
tax, levy, impost, duty, charge, fee, deduction or withholding imposed, levied,
collected, withheld or assessed by any Governmental Authority. The agreements in
this subsection shall survive repayment of the Loans and all other amounts
payable hereunder.

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                                                                             117

            11.6 Successors and Assigns; Participations and Assignments. (a)
This Agreement shall be binding upon and inure to the benefit of the Borrowers
party hereto, the Lenders, the Administrative Agent, the Other Representatives,
all future holders of the Loans and their respective successors and assigns,
except that none of the Borrowers may, other than in accordance with subsection
8.5 or 11.1(b), assign or transfer any of its rights or obligations under this
Agreement without the prior written consent of each Lender.

            (b) Any Lender may, in accordance with applicable law, at any time
sell to one or more banks or other entities ("Participants") participating
interests in any Loan owing to such Lender, any Note held by such Lender, any
Revolving Credit Commitment of such Lender or any other interest of such Lender
hereunder and under the other Loan Documents; provided that (unless the Parent
Borrower and the Administrative Agent otherwise consent in writing) no such
participating interests shall be in an aggregate principal amount of less than
(i) in the case of Tranche A Term Loans and Revolving Credit Commitments,
$5,000,000 in the aggregate (or, if less, the full amount of such selling
Lender's Revolving Credit Loans, Tranche A Term Loans and Revolving Credit
Commitments) or (ii) in the case of Tranche B Term Loans, $5,000,000 (or, if
less, the full amount of such selling Lender's Tranche B Term Loans). Such sale
of participating interests need not be ratable as among the Tranche A Term
Loans, the Revolving Credit Commitments and the Tranche B Term Loans of such
Lender. In the event of any such sale by a Lender of a participating interest to
a Participant, such Lender's obligations under this Agreement to the other
parties to this Agreement shall remain unchanged, such Lender shall remain
solely responsible for the performance thereof, such Lender shall remain the
holder of any such Loan (and any Note evidencing such Loan) for all purposes
under this Agreement and the other Loan Documents and the Borrowers and the
Administrative Agent shall continue to deal solely and directly with such Lender
in connection with such Lender's rights and obligations under this Agreement and
the other Loan Documents, and such Lender shall be solely responsible for any
withholding taxes or any filing or reporting requirements relating to such
Participant. Any agreement pursuant to which any Lender shall sell any such
participating interest shall provide that such Lender shall retain the sole
right and responsibility to exercise such Lender's rights and enforce each of
the Borrowers' obligations hereunder, including the right to consent to any
amendment, supplement, modification or waiver of any provision of this Agreement
or any of the other Loan Documents, provided that such participation agreement
may provide that such Lender will not agree to any amendment, supplement,
modification or waiver described in clause (i) or (ii) of the proviso to the
second sentence of subsection 11.1(a) without the consent of the Participant.
Each of the Borrowers agrees that each Lender shall be entitled to the benefits
of subsections 4.9, 4.10, 4.11, 4.12, 11.1 and 11.5 without regard to whether it
has granted any participating interests, and that all amounts payable to a
Lender under subsections 4.9, 4.10, 4.11, 4.12 and 11.5 shall be determined as
if such Lender had not granted any such participating interests.

            (c) Any Lender may, in accordance with applicable law, at any time
and from time to time assign to any Lender or any affiliate thereof or to any
Approved Fund or, with the prior written consent of the Administrative Agent and
the Parent Borrower (which in each case shall not be unreasonably withheld), to
an additional bank, savings and loan association or other similar savings
institution, insurance company, investment fund or company or other financial
institution (an "Assignee") all or any part of its rights and obligations under
this Agreement and any Notes, including, without limitation, its Revolving
Credit Commitments and Loans, pursuant to an Assignment and Acceptance,
substantially in

<PAGE>
                                                                             118

the form of Exhibit H (an "Assignment and Acceptance"), executed by such
Assignee, such assigning Lender (and, in the case of an Assignee that is not
then a Lender or an affiliate thereof or an Approved Fund, by the Parent
Borrower and the Administrative Agent) and delivered to the Administrative Agent
for its acceptance and recording in the Register; provided that (i) (unless the
Administrative Agent and the Parent Borrower otherwise consent in writing (such
consent not to be unreasonably withheld)) no such transfer to an Assignee (other
than a Lender or any affiliate thereof or any Approved Fund) shall be in an
aggregate principal amount less than (x) in the case of Tranche A Term Loans and
Revolving Credit Commitments, $5,000,000 in the aggregate (or, if less, the full
amount of such assigning Lender's Tranche A Term Loans, Revolving Credit Loans
and Revolving Credit Commitments) or (y) in the case of Tranche B Term Loans,
$5,000,000 (or, if less, the full amount of such assigning Lender's Tranche B
Term Loans) and (ii) if any Lender assigns all or any part of its rights and
obligations under this Agreement to one of its affiliates in connection with or
in contemplation of the sale or other disposition of its interest in such
affiliate, the Parent Borrower's prior written consent shall be required for
such assignment. Any such assignment shall be ratable as between the Tranche A
Term Loans and the Revolving Credit Commitments of such Lender unless the
Administrative Agent and the Parent Borrower otherwise consent in writing, but
need not be ratable as between the Tranche A Term Loans and the Revolving Credit
Commitments of such Lender, on the one hand, and the Tranche B Term Loans of
such Lender, on the other hand. Upon such execution, delivery, acceptance and
recording, from and after the effective date determined pursuant to such
Assignment and Acceptance, (x) the Assignee thereunder shall be a party hereto
and, to the extent provided in such Assignment and Acceptance, have the rights
and obligations of a Lender hereunder with a Revolving Credit Commitment,
Tranche A Term Loan and Tranche B Term Loan as set forth therein, and (y) the
assigning Lender thereunder shall be released from its obligations under this
Agreement to the extent that such obligations shall have been expressly assumed
by the Assignee pursuant to such Assignment and Acceptance (and, in the case of
an Assignment and Acceptance covering all or the remaining portion of an
assigning Lender's rights and obligations under this Agreement, such assigning
Lender shall cease to be a party hereto but shall nevertheless continue to be
entitled to the benefits of subsections 4.10, 4.11, 4.12 and 11.5).
Notwithstanding the foregoing, no Assignee, which as of the date of any
assignment to it pursuant to this subsection 11.6(c) would be entitled to
receive any greater payment under subsection 4.10 or 4.11 than the assigning
Lender would have been entitled to receive as of such date under such
subsections with respect to the rights assigned, shall be entitled to receive
such payments unless the Parent Borrower has consented in writing to the
assignment.

            (d) The Administrative Agent, on behalf of each of the Borrowers,
shall maintain at its address referred to in subsection 11.2 a copy of each
Assignment and Acceptance delivered to it and a register (the "Register") for
the recordation of the names and addresses of the Lenders and the Revolving
Credit Commitment of, and the principal amount of the Loans owing to, and the
Notes evidencing such Loans owed by, each Lender from time to time.
Notwithstanding anything in this Agreement to the contrary, the Borrowers, the
Administrative Agent and the Lenders shall treat each Person whose name is
recorded in the Register as the owner of the Loan, the Notes and the Revolving
Credit Commitments recorded therein for all purposes of this Agreement. The
Register shall be available for inspection by the Parent Borrower or any Lender
at any reasonable time and from time to time upon reasonable prior notice.

<PAGE>
                                                                             119

            (e) Notwithstanding anything in this Agreement to the contrary, no
assignment under subsection 11.6(c) of any rights or obligations under or in
respect of the Loans or the Notes evidencing such Loans shall be effective
unless and until the Administrative Agent shall have recorded the assignment
pursuant to subsection 11.6(d). Upon its receipt of an Assignment and Acceptance
executed by an assigning Lender and an Assignee (and, in the case of an Assignee
that is not then a Lender or an affiliate thereof, by the Administrative Agent
and the Parent Borrower), together with payment to the Administrative Agent of a
registration and processing fee of $3,500 (which fee need not be paid in the
case of any assignment to an affiliate of the assigning Lender or to an Approved
Fund; and provided that in the case of contemporaneous assignments by a Lender
to more than one fund managed by the same investment advisor (which funds are
not then Lenders hereunder, affiliates thereof or Approved Funds), only a single
fee of $3,500 shall be payable for all such contemporaneous assignments), the
Administrative Agent shall (i) promptly accept such Assignment and Acceptance
and (ii) on the effective date determined pursuant thereto record the
information contained therein in the Register and give prompt notice of such
acceptance and recordation to the Lenders and the Parent Borrower. On or prior
to such effective date, the assigning Lender shall surrender any outstanding
Notes held by it all or a portion of which are being assigned, and the Parent
Borrower, at its own expense, shall, upon the request to the Administrative
Agent by the assigning Lender or the Assignee, as applicable, execute and
deliver (and cause the applicable Foreign Subsidiary Borrowers to execute and
deliver) to the Administrative Agent (in exchange for the outstanding Notes of
the assigning Lender) a new Revolving Credit Note, Tranche A Term Note, Tranche
B Term Note and/or Swing Line Note, as the case may be, to the order of such
Assignee in an amount equal to (i) in the case of a Revolving Credit Note, the
lesser of (A) the amount of such Assignee's Revolving Credit Commitment and (B)
the aggregate principal amount of all Revolving Credit Loans made by such
Assignee, (ii) in the case of a Tranche A Term Note, the amount of such
Assignee's Tranche A Term Loan, (iii) in the case of a Tranche B Term Note, the
amount of such Assignee's Tranche B Term Loan and (iv) in the case of a Swing
Line Note, the lesser of (A) the Swing Line Commitment and (B) the aggregate
principal amount of all Swing Line Loans made by such Assignee, in each case
with respect to the relevant Loan, Swing Line Commitment, or Revolving Credit
Commitment after giving effect to such Assignment and Acceptance and, if the
assigning Lender has retained a Swing Line Commitment, Revolving Credit
Commitment or Term Loan hereunder, a new Revolving Credit Note, Tranche A Term
Note, Tranche B Term Note and/or Swing Line Note, as the case may be, to the
order of the assigning Lender in an amount equal to (i) in the case of a
Revolving Credit Note, the lesser of (A) the amount of such Lender's Revolving
Credit Commitment and (B) the aggregate principal amount of all Revolving Credit
Loans made by such Lender, (ii) in the case of a Tranche A Term Note, the amount
of such Lender's Tranche A Term Loan, (iii) in the case of a Tranche B Term
Note, the amount of such Lender's Tranche B Term Loan and (iv) in the case of a
Swing Line Note, the lesser of (A) the Swing Line Commitment and (B) the
aggregate principal amount of all Swing Line Loans made by such Lender, in each
case with respect to the relevant Loan, Swing Line Commitment or Revolving
Credit Commitment after giving effect to such Assignment and Acceptance. Any
such new Notes shall be dated the Effective Date and shall otherwise be in the
form of the Note replaced thereby. Any Notes surrendered by the assigning Lender
shall be returned by the Administrative Agent to the Parent Borrower marked
"cancelled".

            (f) Each Borrower authorizes each Lender to disclose to any
Participant or Assignee (each, a "Transferee") and any prospective Transferee,
subject to the provisions of subsection 11.16, any and all information in such
Lender's possession concerning any Borrower and its Affiliates which has been

<PAGE>
                                                                             120

delivered to such Lender by or on behalf of any Borrower pursuant to this
Agreement or which has been delivered to such Lender by or on behalf of any
Borrower in connection with such Lender's credit evaluation of each Borrower and
its Affiliates prior to becoming a party to this Agreement. No assignment or
participation made or purported to be made to any Transferee shall be effective
without the prior written consent of the Parent Borrower if it would require the
Parent Borrower to make any filing with any Governmental Authority or qualify
any Loan or Note under the laws of any jurisdiction, and the Parent Borrower
shall be entitled to request and receive such information and assurances as it
may reasonably request from any Lender or any Transferee to determine whether
any such filing or qualification is required or whether any assignment or
participation is otherwise in accordance with applicable law.

            (g) For avoidance of doubt, the parties to this Agreement
acknowledge that the provisions of this subsection 11.6 concerning assignments
of Loans and Notes relate only to absolute assignments and that such provisions
do not prohibit assignments creating security interests, including, without
limitation, any pledge or assignment by a Lender of any Loan or Note to any
Federal Reserve Bank in accordance with applicable law, provided that any
foreclosure or similar action shall be subject to the provisions of this
subsection concerning assignments and shall be void and of no force or effect
unless effected in compliance with such provisions.

            11.7 Adjustments; Set-off. (a) If any Lender (a "Benefitted Lender")
shall at any time receive any payment of all or part of its Revolving Credit
Loans, Term Loans or the Reimbursement Obligations owing to it, or interest
thereon, or receive any collateral in respect thereof (whether voluntarily or
involuntarily, by set-off, pursuant to events or proceedings of the nature
referred to in Section 9(f), or otherwise (except pursuant to subsection 4.4,
4.13(d) or 11.6)), in a greater proportion than any such payment to or
collateral received by any other Lender, if any, in respect of such other
Lender's Revolving Credit Loans, Term Loans or the Reimbursement Obligations, as
the case may be, owing to it, or interest thereon, such Benefitted Lender shall
purchase for cash from the other Lenders a participating interest in such
portion of each such other Lender's Revolving Credit Loans, Term Loans or the
Reimbursement Obligations, as the case may be, owing to it, or shall provide
such other Lenders with the benefits of any such collateral, or the proceeds
thereof, as shall be necessary to cause such Benefitted Lender to share the
excess payment or benefits of such collateral or proceeds ratably with each of
the Lenders; provided, however, that if all or any portion of such excess
payment or benefits is thereafter recovered from such Benefitted Lender, such
purchase shall be rescinded, and the purchase price and benefits returned, to
the extent of such recovery, but without interest.

            (b) In addition to any rights and remedies of the Lenders provided
by law, each Lender shall have the right, without prior notice to any Borrower,
any such notice being expressly waived by each Borrower to the extent permitted
by applicable law, upon the occurrence of an Event of Default under Section 9(a)
to set-off and appropriate and apply against any amount then due and payable
under Section 9(a) by such Borrower any and all deposits (general or special,
time or demand, provisional or final), in any currency, and any other credits,
indebtedness or claims, in any currency, in each case whether direct or
indirect, absolute or contingent, matured or unmatured, at any time held or
owing by such Lender or any affiliate, branch or agency thereof to or for the
credit or the account of such Borrower. Each Lender agrees promptly to notify
the Parent Borrower and the Administrative Agent

<PAGE>
                                                                             121

after any such set-off and application made by such Lender, provided that the
failure to give such notice shall not affect the validity of such set-off and
application.

            11.8 Counterparts. This Agreement may be executed by one or more of
the parties to this Agreement on any number of separate counterparts (including
by telecopy), and all of said counterparts taken together shall be deemed to
constitute one and the same instrument. A set of the copies of this Agreement
signed by all the parties shall be delivered to the Parent Borrower and the
Administrative Agent.

            11.9 Severability. Any provision of this Agreement which is
prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction,
be ineffective to the extent of such prohibition or unenforceability without
invalidating the remaining provisions hereof, and any such prohibition or
unenforceability in any jurisdiction shall not invalidate or render
unenforceable such provision in any other jurisdiction.

            11.10 Integration. This Agreement and the other Loan Documents
represent the entire agreement of the Borrowers party hereto, the other Loan
Parties, the Administrative Agent and the Lenders with respect to the subject
matter hereof, and there are no promises, undertakings, representations or
warranties by any of the Borrowers party hereto, the other Loan Parties, the
Administrative Agent or any Lender relative to the subject matter hereof not
expressly set forth or referred to herein or in the other Loan Documents.

            11.11 GOVERNING LAW. THIS AGREEMENT AND ANY NOTES AND THE RIGHTS AND
OBLIGATIONS OF THE PARTIES UNDER THIS AGREEMENT AND ANY NOTES SHALL BE GOVERNED
BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF
NEW YORK.

            11.12 Submission To Jurisdiction; Waivers. (a) Each party hereto
hereby irrevocably and unconditionally:

            (i) submits for itself and its property in any legal action or
      proceeding relating to this Agreement and the other Loan Documents to
      which it is a party, or for recognition and enforcement of any judgment in
      respect thereof, to the non-exclusive general jurisdiction of the courts
      of the State of New York, the courts of the United States of America for
      the Southern District of New York, and appellate courts from any thereof;

            (ii) consents that any such action or proceeding may be brought in
      such courts and waives any objection that it may now or hereafter have to
      the venue of any such action or proceeding in any such court or that such
      action or proceeding was brought in an inconvenient forum and agrees not
      to plead or claim the same;

            (iii) agrees that service of process in any such action or
      proceeding may be effected by mailing a copy thereof by registered or
      certified mail (or any substantially similar form of mail), postage
      prepaid, to the applicable Borrower (or, in the case of any Foreign
      Subsidiary Borrower, as specified in paragraph (b)), the applicable Lender
      or the Administrative Agent, as the case may be, at

<PAGE>
                                                                             122

      the address specified in subsection 11.2 or at such other address of which
      the Administrative Agent, any such Lender and any such Borrower shall have
      been notified pursuant thereto;

            (iv) agrees that nothing herein shall affect the right to effect
      service of process in any other manner permitted by law or shall limit the
      right to sue in any other jurisdiction; and

            (v) waives, to the maximum extent not prohibited by law, any right
      it may have to claim or recover in any legal action or proceeding referred
      to in this subsection any punitive damages.

            (b) Upon any Foreign Subsidiary becoming a Foreign Subsidiary
Borrower in accordance with subsection 11.1(b), such Foreign Subsidiary Borrower
hereby agrees to irrevocably and unconditionally appoint an agent for service of
process located in The City of New York (the "New York Process Agent"),
reasonably satisfactory to the Administrative Agent, as its agent to receive on
behalf of such Foreign Subsidiary Borrower and its property service of copies of
the summons and complaint and any other process which may be served in any
action or proceeding in any such New York State or Federal court described in
paragraph (a) of this subsection and agrees promptly to appoint a successor New
York Process Agent in The City of New York (which successor New York Process
Agent shall accept such appointment in a writing reasonably satisfactory to the
Administrative Agent) prior to the termination for any reason of the appointment
of the initial New York Process Agent. In any such action or proceeding in such
New York State or Federal court, such service may be made on such Foreign
Subsidiary Borrower by delivering a copy of such process to such Foreign
Subsidiary Borrower in care of the New York Process Agent at the New York
Process Agent's address and by depositing a copy of such process in the mails by
certified or registered air mail, addressed to such Foreign Subsidiary Borrower
at its address specified in subsection 11.2 with (if applicable) a copy to the
Parent Borrower (such service to be effective upon such receipt by the New York
Process Agent and the depositing of such process in the mails as aforesaid).
Each of the Foreign Subsidiary Borrowers hereby irrevocably and unconditionally
authorizes and directs the New York Process Agent to accept such service on its
behalf. As an alternate method of service, each of the Foreign Subsidiary
Borrowers irrevocably and unconditionally consents to the service of any and all
process in any such action or proceeding in such New York State or Federal court
by mailing of copies of such process to such Foreign Subsidiary Borrower by
certified or registered air mail at its address specified in subsection 11.2.
Each of the Foreign Subsidiary Borrowers agrees that, to the fullest extent
permitted by applicable law, a final judgment in any such action or proceeding
shall be conclusive and may be enforced in other jurisdictions by suit on the
judgment or in any other manner provided by law.

            (c) To the extent that any Foreign Subsidiary Borrower has or
hereafter may acquire any immunity (sovereign or otherwise) from any legal
action, suit or proceeding, from jurisdiction of any court or from set-off or
any legal process (whether service or notice, attachment prior to judgment,
attachment in aid of execution of judgment, execution of judgment or otherwise)
with respect to itself or any of its property, such Foreign Subsidiary Borrower
hereby irrevocably waives and agrees not to plead or claim such immunity in
respect of its obligations under this Agreement and any Note.

            11.13 Judgment. (a) If for the purpose of obtaining judgment in any
court it is necessary to convert a sum due hereunder in one currency into
another currency, the parties hereto agree, to the fullest extent that they may
effectively do so, that the rate of exchange used shall be that at which in

<PAGE>
                                                                             123

accordance with normal banking procedures the Administrative Agent could
purchase the first currency with such other currency on the Business Day
preceding the day on which final judgment is given.

            (b) The obligations of any Borrower in respect of this Agreement and
any Note due to any party hereto or any holder of any bond shall,
notwithstanding any judgment in a currency (the "judgment currency") other than
the currency in which the sum originally due to such party or such holder is
denominated (the "original currency"), be discharged only to the extent that on
the Business Day following receipt by such party or such holder (as the case may
be) of any sum adjudged to be so due in the judgment currency such party or such
holder (as the case may be) may in accordance with normal banking procedures
purchase the original currency with the judgment currency; if the amount of the
original currency so purchased is less than the sum originally due to such party
or such holder (as the case may be) in the original currency, such Borrower
agrees, as a separate obligation and notwithstanding any such judgment, to
indemnify such party or such holder (as the case may be) against such loss, and
if the amount of the original currency so purchased exceeds the sum originally
due to any party to this Agreement or any holder of Notes (as the case may be),
such party or such holder (as the case may be), agrees to remit to such
Borrower, such excess. This covenant shall survive the termination of this
Agreement and payment of the Loans and all other amounts payable hereunder.

            11.14 Acknowledgments. Each Borrower hereby acknowledges that:

            (a) it has been advised by counsel in the negotiation, execution and
      delivery of this Agreement and the other Loan Documents;

            (b) neither the Administrative Agent nor any Other Representative or
      Lender has any fiduciary relationship with or duty to any Borrower arising
      out of or in connection with this Agreement or any of the other Loan
      Documents, and the relationship between the Administrative Agent and
      Lenders, on the one hand, and the Borrowers, on the other hand, in
      connection herewith or therewith is solely that of creditor and debtor;
      and

            (c) no joint venture is created hereby or by the other Loan
      Documents or otherwise exists by virtue of the transactions contemplated
      hereby and thereby among the Lenders or among any of the Borrowers and the
      Lenders.

            11.15 WAIVER OF JURY TRIAL. EACH OF THE BORROWERS, THE
ADMINISTRATIVE AGENT AND THE LENDERS HEREBY IRREVOCABLY AND UNCONDITIONALLY
WAIVE TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING RELATING TO THIS AGREEMENT
OR ANY NOTES OR ANY OTHER LOAN DOCUMENT AND FOR ANY COUNTERCLAIM THEREIN.

            11.16 Confidentiality. The Administrative Agent and each Lender
agrees to keep confidential any written or oral information (a) provided to it
by or on behalf of Holding, the Parent Borrower or any of their Subsidiaries
pursuant to or in connection with this Agreement or (b) obtained by such Lender
based on a review of the books and records of Holding, the Parent Borrower or
any of their Subsidiaries; provided that nothing herein shall prevent any Lender
from disclosing any such information (i) to the Administrative Agent or any
other Lender, (ii) to any Transferee or prospective

<PAGE>
                                                                             124

Transferee which agrees to comply with the provisions of this subsection, (iii)
to its Affiliates, its Subsidiaries and the employees, directors, agents,
attorneys, accountants and other professional advisors of it, its Affiliates and
its Subsidiaries, provided that such Lender shall inform each such Person of the
agreement under this subsection 11.16 and take reasonable actions to cause
compliance by any such Person referred to in this clause (iii) with this
agreement (including, where appropriate, to cause any such Person to acknowledge
its agreement to be bound by the agreement under this subsection 11.16), (iv)
upon the request or demand of any Governmental Authority having jurisdiction
over such Lender or to the extent required in response to any order of any court
or other Governmental Authority or as shall otherwise be required pursuant to
any Requirement of Law, provided that such Lender shall, unless prohibited by
any Requirement of Law, notify the Parent Borrower of any disclosure pursuant to
this clause (iv) as far in advance as is reasonably practicable under such
circumstances, (v) which has been publicly disclosed other than in breach of
this Agreement, (vi) in connection with the exercise of any remedy hereunder,
(vii) in connection with periodic regulatory examinations, (viii) in connection
with any litigation to which such Lender may be a party, subject to the proviso
in clause (iv), (ix) to any direct or indirect contractual counterparty in swap
agreements or such contractual counterparty's professional advisor (so long as
such contractual counterparty or professional advisor to such contractual
counterparty (A) has been approved in writing by the Parent Borrower and (B)
agrees in a writing enforceable by the Parent Borrower to be bound by the
provisions of this subsection 11.16) and (x) if, prior to such information
having been so provided or obtained, such information was already in the
Administrative Agent's or a Lender's possession on a nonconfidential basis
without a duty of confidentiality to any Borrower being violated.

            11.17 Amendment and Restatement. This Agreement represents an
amendment and restatement of the Credit Agreement, dated as of November 19,
1999, among the Parent Borrower, the Lenders party thereto, the Administrative
Agent and the Other Representatives.

<PAGE>

            IN WITNESS WHEREOF, the parties hereto have caused this Agreement to
be duly executed and delivered by their proper and duly authorized officers as
of the day and year first above written.

                                       NORTH AMERICAN VAN LINES, INC.

                                       By:/s/Ralph A. Ford
                                          ----------------
                                          Name:  Ralph A. Ford
                                         Title:  Secretary

                                       THE CHASE MANHATTAN BANK, as Collateral
                                       Agent, Administrative Agent, Swing Line
                                       Lender, Issuing Lender and Lender

                                       By:/s/Bruce Borden
                                          -------------------
                                          Name:  Bruce Borden
                                         Title:  Vice President

                                       THE BANK OF NEW YORK, as Documentation
                                       Agent and Lender

                                       By:/s/David G. Shedd
                                          ---------------------
                                          Name:  David G. Shedd
                                         Title:  Vice President

                                       BANK OF AMERICA SECURITIES LLC, as
                                       Syndication Agent

                                       By:/s/Elizabeth Borow
                                          ----------------------
                                          Name:  Elizabeth Borow
                                         Title:  Managing Director

                                       BANK OF AMERICA, N.A.

                                       By:/s/Elizabeth Borow
                                          ----------------------
                                          Name:  Elizabeth Borow
                                         Title:  Managing Director

<PAGE>

                                       BANKERS TRUST COMPANY

                                       By:/s/Mary Kay Coyle
                                          --------------------
                                         Name:  Mary Kay Coyle
                                        Title:  Managing Director

                                       BANK OF TOKYO-MITSUBISHI TRUST COMPANY

                                       By:/s/Nicholas J. Campbell
                                          --------------------------
                                         Name:  Nicholas J. Campbell
                                        Title:  Vice President

                                       FLEET NATIONAL BANK

                                       By:/s/Mark S. Pelletier
                                          -----------------------
                                         Name:  Mark S. Pelletier
                                        Title:  Vice President

                                       HSBC BANK USA

                                       By:/s/Christopher F. French
                                          ---------------------------
                                         Name:  Christopher F. French
                                        Title:  Authorized Signatory

                                       KZH ING-2  L.L.C.

                                       By:/s/Peter Chin
                                          ----------------
                                         Name:  Peter Chin
                                        Title:  Authorized Agent

<PAGE>

                                       NATIONAL CITY BANK OF INDIANA

                                       By:/s/Mark A. Minnick
                                          ---------------------
                                          Name:  Mark A. Minnick
                                          Title:  Senior Vice President

                                       PPM SPYGLASS FUNDING TRUST

                                       By:/s/Kelly C. Walker
                                          ---------------------
                                         Name:  Kelly C. Walker
                                         Title:  Authorized Agent

                                       THE PROVIDENT BANK

                                       By:/s/Thomas W. Doe
                                          -------------------
                                         Name:  Thomas W. Doe
                                         Title:  Vice President

                                       SUNTRUST BANK, CENTRAL FLORIDA, NA

                                       By:/s/Christopher A. Black
                                          --------------------------
                                         Name:  Christopher A. Black
                                        Title:  Director

                                       THE BANK OF NOVA SCOTIA

                                       By:/s/F.C.H. Ashby
                                          -----------------
                                         Name:  F.C.H. Ashby
                                        Title:  Senior Manager Loan Operations

<PAGE>

                                       VAN KAMPEN SENIOR FLOATING RATE FUND

                                       By: Van Kampen Investment Advisory Corp.

                                       By:/s/Darvin D. Pierce
                                          ---------------------
                                         Name:  Darvin D. Pierce
                                         Title:  Vice President

                                       VAN KAMPEN SENIOR INCOME TRUST

                                       By: Van Kampen Investment Advisory Corp.

                                       By:/s/Darvin D. Pierce
                                          ---------------------
                                         Name:  Darvin D. Pierce
                                        Title:  Vice President

<PAGE>

                                                                      Schedule I

                            Commitments and Addresses

<PAGE>

                                                                     Schedule II

                 Applicable Margin and Commitment Fee Step-Downs

Step-Downs for Revolving Credit Loans, Tranche A Term Loans and Commitment Fees
-------------------------------------------------------------------------------
================================================================================
     Leverage         Eurocurrency Loans       ABR Loans
      Ratio           Applicable Margin    Applicable Margin     Commitment Fee
--------------------------------------------------------------------------------
Greater than or equal to
        4.00 to 1.00            3.00%                2.00%                0.50%
--------------------------------------------------------------------------------
Greater than or equal to
 3.50 to 1.00 and
Less than 4.00 to 1.00          2.75%                1.75%                0.50%
--------------------------------------------------------------------------------
Greater than or equal to
 3.00 to 1.00 and
Less than 3.50 to 1.00           2.50%                1.50%                0.45%
--------------------------------------------------------------------------------
Greater than or equal to
 2.50 to 1.00 and
Less than 3.00 to 1.00           2.25%                1.25%                0.40%
--------------------------------------------------------------------------------
Less than 2.50 to 1.00           2.00%                1.00%                0.35%
================================================================================
<PAGE>

                                                                    Schedule III

                          Designated Foreign Currencies

For purposes of Tranche A Term Loans, Revolving Credit Loans, Swing Line Loans
and Letters of Credit, Designated Foreign Currencies are the following:

               Currency                      Principal Financial Center
               --------                      --------------------------

               Euros                         Frankfurt
               Sterling                      London

<PAGE>

                                                                     Schedule IV

                          Foreign Subsidiary Borrowers

Name                                                                Jurisdiction
----                                                                ------------

                                      None

<PAGE>

                                   SCHEDULE V

                              SUBSIDIARY GUARANTORS

1.  Fleet Insurance Management, Inc.
2.  FrontRunner Worldwide, Inc.
3.  NACAL, Inc.
4.  North American Distribution Systems, Inc.
5.  North American Logistics, Ltd.
6.  North American Van Lines of Texas, Inc.
7.  NAVTRANS International Freight Forwarding, Inc.
8.  Relocation Management Systems, Inc.
9.  Great Falls North American, Inc.
10. Vanguard Insurance Agency, Inc.
11. Allied Van Lines, Inc.
12. Allied Freight Forwarding, Inc.
13. A Relocation Solutions Management Company
14. Allied International N.A., Inc.
14. Allied Van Lines Terminal Company

<PAGE>

                                   SCHEDULE VI

            INDICATIVE TERMS OF PERMITTED RECEIVABLES SECURITIZATIONS

TRANSACTION SUMMARY:              The Parent Borrower may establish, directly or
                                  indirectly, one or more special purpose,
                                  bankruptcy remote subsidiaries (collectively,
                                  the "RECEIVABLES COMPANY") that will purchase,
                                  on a revolving basis, all or a designated
                                  portion of the trade account receivables,
                                  together with any designated assets related to
                                  such receivables such as agreements, security
                                  arrangements, guarantees and other related
                                  assets (collectively, the "RECEIVABLES"),
                                  generated by the Parent Borrower and its
                                  subsidiaries. The purchases of the Receivables
                                  by the Receivables Company will be financed in
                                  part by the creation of a receivables
                                  facility, with or without external credit
                                  enhancement, in which ownership interests in,
                                  or notes, commercial paper, certificates or
                                  other debt instruments secured by or
                                  representing beneficial interests in the
                                  Receivables (such ownership interests, notes,
                                  commercial paper, certificates or instruments,
                                  the "RECEIVABLES SECURITIES") will be sold in
                                  one or more registered public offerings,
                                  private placements, or other available capital
                                  markets transactions by the Receivables
                                  Company or an unaffiliated special purpose
                                  entity. If the financing is provided through
                                  an unaffiliated special purpose entity, the
                                  Parent Borrower may or may not elect to create
                                  a Receivables Company to implement the
                                  transaction.

INTEREST RATE ON
RECEIVABLES SECURITIES:           Under the terms of the definitive
                                  documentation for the creation and issuance of
                                  the Receivables Securities (the "RECEIVABLES
                                  FACILITY DOCUMENTS"), the Receivables
                                  Securities will bear interest or have an
                                  equivalent yield thereon at a rate that at the
                                  time of issuance the Parent Borrower
                                  reasonably expects to be less than the
                                  interest rate provided for on the Revolving
                                  Credit Loans (including, in the case of a
                                  fixed rate offering of Receivables Securities,
                                  the interest rate swap equivalent in respect
                                  thereof on the date of issuance thereof).

<PAGE>

LIMITED RECOURSE:                 The transfer of Receivables by the Parent
                                  Borrower to the Receivables Company will be
                                  made with limited recourse. The Parent
                                  Borrower may be liable under the Receivables
                                  Facility Documents for customary recourse
                                  events, and in any event may be liable for (a)
                                  the breach of certain representations and
                                  warranties (consistent with similar financing
                                  transactions of this type) set forth therein,
                                  (b) the aggregate amount of any dilution with
                                  respect to any transferred Receivables, (c)
                                  its other agreements and obligations
                                  (consistent with similar financing
                                  transactions of this type) under the
                                  Receivables Facility Documents, (d) any
                                  obligations incurred in respect of any
                                  underwriting or placement agency agreements
                                  entered into in connection with the offering
                                  of the Receivables Securities, (e) its
                                  servicing obligations and (f) customary
                                  indemnification and repurchase provisions.

DEFAULT/TERMINATION/
AMORTIZATION EVENTS
UNDER THE RECEIVABLES
FACILITY DOCUMENTS:               The Receivables Facility Documents may contain
                                  customary defaults/termination/amortization
                                  events, and in any event may contain the
                                  following defaults/termination/amortization
                                  events: failure to pass certain performance
                                  tests, including maintenance of a minimum
                                  amount of eligible receivables outstanding or
                                  generated during a specified period, a maximum
                                  dilution ratio, delinquency ratio, default
                                  ratio, and maximum days sales outstanding
                                  ratio; nonpayment of amounts when due;
                                  violation of covenants; failure of any
                                  representation or warranty to be true in all
                                  material respects; cross-acceleration to
                                  Parent Borrower's credit facilities;
                                  bankruptcy events with respect to all parties
                                  to the transaction; change in control;
                                  material judgments; tax and ERISA matters; and
                                  actual or asserted (by the Parent Borrower,
                                  the Receivables Company or any of their
                                  affiliates) invalidity of any Receivables
                                  Facility Documents or security or beneficial
                                  interests thereunder; and such other events as
                                  are required by any rating agency rating the
                                  Receivables Securities.

                                       2

<PAGE>

                                  SCHEDULE VII

                           EXISTING LETTERS OF CREDIT

1.  Letter of Credit No. P-399085 in the amount of $20,000 in favor of Air
    Cargo.

2.  Letter of Credit No. P-289339 in the amount of $17,500 in favor of Spieker
    Properties.

3.  Letter of Credit No. P-291199 in the amount of $100,000 in favor of
    Clearview Limited Partnership.

4.  Letter of Credit No. P-293028 in the amount of $500,000 in favor of Golden
    Springs Development.

5.  Letter of Credit No. P-373046 in the amount of $9,645,000 in favor of
    Protective Insurance Company.

6.  Letter of Credit No. P-365663 in the amount of $2,300,000 in favor of Safeco
    Insurance Company of America.

7.  Letter of Credit No. P-373044 in the amount of $250,000 in favor of Chubb
    and Son, Inc.

8.  Letter of Credit No. P-373042 in the amount of $260,000 in favor of Houston
    Casualty Company.

9.  Letter of Credit No. P-366734 in the amount of $1,650,000 in favor of
    Republic Underwriters Insurance Company.

10. Letter of Credit No. 4674710 in the amount of $2,000,000 in favor of
    Underwriters at Lloyds.

<PAGE>

                                 SCHEDULE 4.4(d)

                            LAST DAY OF FISCAL YEARS

<TABLE>
<CAPTION>

FISCAL YEAR                                   LAST DAY
-----------                                   --------
<S>                                           <C>
1999                                          12/25/99
2000                                          12/30/00
2001                                          12/29/01
2002                                          12/28/02
2003                                          12/27/03
2004                                          12/25/04
2005                                          12/31/05
2006                                          12/30/06

</TABLE>

<PAGE>

                                  SCHEDULE 5.4

             CONSENTS, AUTHORIZATIONS, NOTICES AND FILINGS REQUIRED

None.

<PAGE>

                                  SCHEDULE 5.14

                     FILING JURISDICTIONS AND LIEN SEARCHES

                          PART A: FILING JURISDICTIONS

1.         NAVL

<TABLE>
<CAPTION>

STATE                                COUNTY/PARISH
-----                                -------------
<S>                                 <C>
Arizona                              Secretary of State
California                           Secretary of State
Colorado                             Secretary of State
Connecticut                          Secretary of State
Delaware                             Secretary of State
Georgia                              Clayton, Fulton, Gwinnett
Hawaii                               Secretary of State
Iowa                                 Secretary of State
Illinois                             Secretary of State
Indiana                              Secretary of State, Allen
Kentucky                             Secretary of State, Boone
Massachusetts                        Secretary of State, Chelsea, Framingham,
                                     Milford, Millis, Waltham, Westborough
Maryland                             Secretary of State
Michigan                             Secretary of State
Minnesota                            Secretary of State
Missouri                             Secretary of State, St. Louis
Montana                              Secretary of State

</TABLE>

<PAGE>

<TABLE>
<CAPTION>

STATE                                COUNTY/PARISH
-----                                -------------

<S>                                  <C>
North Carolina                       Secretary of State, Durham, Guilford,
                                     Johnston, Mecklenberg, Orange, Wake
Nebraska                             Secretary of State
New Hampshire                        Secretary of State, Rockingham
New Jersey                           Secretary of State
New Mexico                           Secretary of State
Nevada                               Secretary of State
New York                             Secretary of State, Albany, Erie, Nassau,
                                     New York, Onondaga, Westchester
Ohio                                 Secretary of State, Cuyahoga, Franklin
Oregon                               Secretary of State
Pennsylvania                         Secretary of State, Butler, Cumberland,
                                     Delaware, Lehigh, Northampton
Texas                                Secretary of State
Utah                                 Secretary of State
Virginia                             Secretary of State, Fairfax, Henrico
Washington                           Secretary of State
Wisconsin                            Secretary of State

</TABLE>

2.  Fleet Insurance Management, Inc.

<TABLE>
<CAPTION>

STATE                                COUNTY/PARISH
-----                                -------------
<S>                                  <C>
Indiana                              Secretary of State

</TABLE>

                                       2

<PAGE>

3.  FrontRunner Worldwide, Inc.

<TABLE>
<CAPTION>

STATE                                COUNTY/PARISH
-----                                -------------

<S>                                  <C>
Delaware                             Secretary of State
Indiana                              Secretary of State

</TABLE>

4.  NACAL, Inc.

<TABLE>
<CAPTION>

STATE                                COUNTY/PARISH
-----                                -------------
<S>                                  <C>
Indiana                              Secretary of State
California                           Secretary of State

</TABLE>

5.  NAVTRANS International Freight Forwarding, Inc.

<TABLE>
<CAPTION>

STATE                                COUNTY/PARISH
-----                                -------------
<S>                                  <C>
Indiana                              Secretary of State

</TABLE>

6.  North American Distribution Systems, Inc.

<TABLE>
<CAPTION>

STATE                                COUNTY/PARISH
-----                                -------------
<S>                                  <C>
Indiana                              Secretary of State

</TABLE>

7.  North American Logistics, Ltd.

<TABLE>
<CAPTION>

STATE                                COUNTY/PARISH
-----                                -------------
<S>                                  <C>
Indiana                              Secretary of State

</TABLE>

8.  North American Van Lines of Texas, Inc.

<TABLE>
<CAPTION>

STATE                                COUNTY/PARISH
-----                                -------------
<S>                                  <C>
Indiana                              Secretary of State

</TABLE>

                                       3

<PAGE>

<TABLE>
<CAPTION>

STATE                                COUNTY/PARISH
-----                                -------------
<S>                                  <C>
Texas                                Secretary of State

</TABLE>

9.  Relocation Management Systems, Inc.

<TABLE>
<CAPTION>

STATE                                COUNTY/PARISH
-----                                -------------
<S>                                  <C>
Delaware                             Secretary of State
Indiana                              Secretary of State

</TABLE>

10. NA Holding Corporation

<TABLE>
<CAPTION>

STATE                                COUNTY/PARISH
-----                                -------------
<S>                                  <C>
Delaware                             Secretary of State
Indiana                              Secretary of State

</TABLE>

11. Great Falls North American, Inc.

<TABLE>
<CAPTION>

STATE                                COUNTY/PARISH
-----                                -------------
<S>                                  <C>
Montana                              Secretary of State
Indiana                              Secretary of State

</TABLE>

12. Vanguard Insurance Agency, Inc.

<TABLE>
<CAPTION>

STATE                                COUNTY/PARISH
-----                                -------------
<S>                                  <C>
Illinois                             Secretary of State

</TABLE>

13. Allied Van Lines, Inc.

<TABLE>
<CAPTION>

STATE                                COUNTY/PARISH
-----                                -------------
<S>                                  <C>
Delaware                             Secretary of State

</TABLE>

                                       4

<PAGE>

<TABLE>
<CAPTION>

STATE                                COUNTY/PARISH
-----                                -------------
<S>                                  <C>
Illinois                             Secretary of State, Cook, Du Page
Texas                                Secretary of State, Tarrant

</TABLE>

14.  Allied Freight Forwarding, Inc.

<TABLE>
<CAPTION>

STATE                                COUNTY/PARISH
-----                                -------------
<S>                                  <C>
Delaware                             Secretary of State
Illinois                             Secretary of State

</TABLE>

15. A Relocation Solutions Management Company

<TABLE>
<CAPTION>

STATE                                COUNTY/PARISH
-----                                -------------
<S>                                  <C>
Delaware                             Secretary of State
Illinois                             Secretary of State

</TABLE>

16. Allied International N.A., Inc.

<TABLE>
<CAPTION>

STATE                                COUNTY/PARISH
-----                                -------------
<S>                                  <C>
Delaware                             Secretary of State
Illinois                             Secretary of State

</TABLE>

17. Allied Van Lines Terminal Company

<TABLE>
<CAPTION>

STATE                                COUNTY/PARISH
-----                                -------------
<S>                                  <C>
Delaware                             Secretary of State
Illinois                             Secretary of State

</TABLE>

                                       5

<PAGE>

                              PART B. LIEN SEARCHES

1.  NAVL

<TABLE>
<CAPTION>

STATE                                COUNTY/PARISH
-----                                -------------
<S>                                  <C>
Arizona                              Secretary of State
California                           Secretary of State
Colorado                             Secretary of State
Connecticut                          Secretary of State
Delaware                             Secretary of State
Georgia                              Secretary of State, Clayton, Fulton,
                                     Gwinnett
Hawaii                               Secretary of State
Iowa                                 Secretary of State
Illinois                             Secretary of State
Indiana                              Secretary of State, Allen
Kentucky                             Secretary of State, Boone
Massachusetts                        Secretary of State, Middlesex, Norfolk,
                                     Suffolk, Worcester
Maryland                             Secretary of State
Michigan                             Secretary of State
Minnesota                            Secretary of State
Missouri                             Secretary of State, St. Louis
Montana                              Secretary of State
North Carolina                       Secretary of State, Durham, Guilford,
                                     Johnston, Mecklenberg, Orange, Wake
Nebraska                             Secretary of State
New Hampshire                        Secretary of State, Rockingham

</TABLE>

                                       6

<PAGE>

<TABLE>
<CAPTION>

STATE                                COUNTY/PARISH
-----                                -------------
<S>                                  <C>
New Jersey                           Secretary of State
New York                             Secretary of State, Albany, Erie, Nassau,
                                     New York, Onondaga, Westchester
New Mexico                           Secretary of State
Nevada                               Secretary of State
Ohio                                 Secretary of State, Cuyahoga, Franklin
Oregon                               Secretary of State
Pennsylvania                         Secretary of State, Butler, Cumberland,
                                     Delaware, Lehigh, Northampton
Texas                                Secretary of State
Utah                                 Secretary of State
Virginia                             Secretary of State, Fairfax, Henrico
Washington                           Secretary of State
Wisconsin                            Secretary of State

</TABLE>

2.  A Five Star Forwarding, Inc.

<TABLE>
<CAPTION>

STATE                                COUNTY/PARISH
-----                                -------------
<S>                                  <C>
Delaware                             Secretary of State
Indiana                              Secretary of State

</TABLE>

3.  A Three Rivers Forwarding, Inc.

<TABLE>
<CAPTION>

STATE                                COUNTY/PARISH
-----                                -------------
<S>                                  <C>
Indiana                              Secretary of State

</TABLE>

                                       7

<PAGE>

4.  A-1 Above Van Lines, Inc.

<TABLE>
<CAPTION>

STATE                                COUNTY/PARISH
-----                                -------------
<S>                                  <C>
Indiana                              Secretary of State

</TABLE>

5.  A-1 Summit Van Lines, Inc.

<TABLE>
<CAPTION>

STATE                                COUNTY/PARISH
-----                                -------------
<S>                                  <C>
Indiana                              Secretary of State

</TABLE>

6.  Able Van Lines, Inc.

<TABLE>
<CAPTION>

STATE                                COUNTY/PARISH
-----                                -------------
<S>                                  <C>
Indiana                              Secretary of State

</TABLE>

7.  Alaska USA Van Lines, Inc.

<TABLE>
<CAPTION>

STATE                                COUNTY/PARISH
-----                                -------------
<S>                                  <C>
Indiana                              Secretary of State

</TABLE>

8.  Americas Best Van Lines, Inc.

<TABLE>
<CAPTION>

STATE                                COUNTY/PARISH
-----                                -------------
<S>                                  <C>
Indiana                              Secretary of State

</TABLE>

9.  Americas Quality Van Lines, Inc.

<TABLE>
<CAPTION>

STATE                                COUNTY/PARISH
-----                                -------------
<S>                                  <C>
Indiana                              Secretary of State

</TABLE>

                                       8

<PAGE>

10. City Storage & Transfer, Inc.

<TABLE>
<CAPTION>

STATE                                COUNTY/PARISH
-----                                -------------
<S>                                  <C>
Colorado                             Secretary of State
Indiana                              Secretary of State

</TABLE>

11. Fleet Insurance Management, Inc.

<TABLE>
<CAPTION>

STATE                                COUNTY/PARISH
-----                                -------------
<S>                                  <C>
Indiana                              Secretary of State

</TABLE>

12. FrontRunner Worldwide, Inc.

<TABLE>
<CAPTION>

STATE                                COUNTY/PARISH
-----                                -------------
<S>                                  <C>
Delaware                             Secretary of State
Indiana                              Secretary of State

</TABLE>

13. Great Falls North American, Inc.

<TABLE>
<CAPTION>

STATE                                COUNTY/PARISH
-----                                -------------
<S>                                  <C>
Montana                              Secretary of State
Indiana                              Secretary of State

</TABLE>

14. Move Management Services, Inc.

<TABLE>
<CAPTION>

STATE                                COUNTY/PARISH
-----                                -------------
<S>                                  <C>
Indiana                              Secretary of State

</TABLE>
                                       9

<PAGE>

15. NACAL, Inc.

<TABLE>
<CAPTION>

STATE                                COUNTY/PARISH
-----                                -------------
<S>                                  <C>
California                           Secretary of State
Indiana                              Secretary of State

</TABLE>

16. World Class Van Lines, Inc.

<TABLE>
<CAPTION>

STATE                                COUNTY/PARISH
-----                                -------------
<S>                                  <C>
Delaware                             Secretary of State
Indiana                              Secretary of State

</TABLE>

17. NAVTRANS Container Lines, Inc.

<TABLE>
<CAPTION>

STATE                                COUNTY/PARISH
-----                                -------------
<S>                                  <C>
Florida                              Secretary of State
Indiana                              Secretary of State

</TABLE>

18. NAVTRANS International Freight Forwarding, Inc.

<TABLE>
<CAPTION>

STATE                                COUNTY/PARISH
-----                                -------------
<S>                                  <C>
Indiana                              Secretary of State

</TABLE>

19. NorAm Forwarding, Inc.

<TABLE>
<CAPTION>

STATE                                COUNTY/PARISH
-----                                -------------
<S>                                  <C>
Indiana                              Secretary of State

</TABLE>

                                      10
<PAGE>

20. North American Distribution Systems, Inc.

<TABLE>
<CAPTION>

STATE                                COUNTY/PARISH
-----                                -------------
<S>                                  <C>
Indiana                              Secretary of State

</TABLE>

21. North American Forwarding, Inc.

<TABLE>
<CAPTION>

STATE                                COUNTY/PARISH
-----                                -------------
<S>                                  <C>
Indiana                              Secretary of State

</TABLE>

22. North American Logistics, Ltd.

<TABLE>
<CAPTION>

STATE                                COUNTY/PARISH
-----                                -------------
<S>                                  <C>
Indiana                              Secretary of State

</TABLE>

23. North American Moving & Storage, Inc.

<TABLE>
<CAPTION>

STATE                                COUNTY/PARISH
-----                                -------------
<S>                                  <C>
Indiana                              Secretary of State

</TABLE>

24. North American Van Lines of Texas, Inc.

<TABLE>
<CAPTION>

STATE                                COUNTY/PARISH
-----                                -------------
<S>                                  <C>
Texas                                Secretary of State
Indiana                              Secretary of State

</TABLE>

25. Relocation Management Systems, Inc.

<TABLE>
<CAPTION>

STATE                                COUNTY/PARISH
-----                                -------------
<S>                                  <C>
Delaware                             Secretary of State
Indiana                              Secretary of State

</TABLE>

                                       11

<PAGE>

26. Manufacturing Support Services, L.L.C.

<TABLE>
<CAPTION>

STATE                                COUNTY/PARISH
-----                                -------------
<S>                                  <C>
Delaware                             Secretary of State
California                           Secretary of State
Indiana                              Secretary of State

</TABLE>

27. NA Holding Corporation

<TABLE>
<CAPTION>

STATE                                COUNTY/PARISH
-----                                -------------
<S>                                  <C>
Delaware                             Secretary of State
Indiana                              Secretary of State

</TABLE>

28. Vanguard Insurance Agency, Inc.

<TABLE>
<CAPTION>

STATE                                COUNTY/PARISH
-----                                -------------
<S>                                  <C>
Illinois                             Secretary of State

</TABLE>

29. Allied Van Lines, Inc.

<TABLE>
<CAPTION>

STATE                                COUNTY/PARISH
-----                                -------------
<S>                                  <C>
Delaware                             Secretary of State
Illinois                             Secretary of State, Cook, Du Page
Texas                                Secretary of State, Tarrant

</TABLE>

30. Allied Freight Forwarding, Inc.

<TABLE>
<CAPTION>

STATE                                COUNTY/PARISH
-----                                -------------
<S>                                  <C>
Delaware                             Secretary of State
Illinois                             Secretary of State

</TABLE>

                                       12
<PAGE>

31. A Relocation Solutions Management Company

<TABLE>
<CAPTION>

STATE                                COUNTY/PARISH
-----                                -------------
<S>                                  <C>
Delaware                             Secretary of State
Illinois                             Secretary of State

</TABLE>

32. Allied International N.A., Inc.

<TABLE>
<CAPTION>

STATE                                COUNTY/PARISH
-----                                -------------
<S>                                  <C>
Delaware                             Secretary of State
Illinois                             Secretary of State

</TABLE>

33. Allied Intermodal Forwarding, Inc.

<TABLE>
<CAPTION>

STATE                                COUNTY/PARISH
-----                                -------------
<S>                                  <C>
Delaware                             Secretary of State
Illinois                             Secretary of State

</TABLE>

34. Allied Domestic Forwarding, Inc.

<TABLE>
<CAPTION>

STATE                                COUNTY/PARISH
-----                                -------------
<S>                                  <C>
Delaware                             Secretary of State
Illinois                             Secretary of State

</TABLE>

35. Allied Transcontinental Forwarding, Inc.

<TABLE>
<CAPTION>

STATE                                COUNTY/PARISH
-----                                -------------
<S>                                  <C>
Delaware                             Secretary of State
Illinois                             Secretary of State

</TABLE>

                                       13
<PAGE>

36. Allied Transportation Forwarding, Inc.

<TABLE>
<CAPTION>

STATE                                COUNTY/PARISH
-----                                -------------
<S>                                  <C>
Delaware                             Secretary of State
Illinois                             Secretary of State

</TABLE>

37. A.V.L. Transportation, Inc.

<TABLE>
<CAPTION>

STATE                                COUNTY/PARISH
-----                                -------------
<S>                                  <C>
Delaware                             Secretary of State
Illinois                             Secretary of State

</TABLE>

38. Allied Interstate Transportation, Inc.

<TABLE>
<CAPTION>

STATE                                COUNTY/PARISH
-----                                -------------
<S>                                  <C>
Delaware                             Secretary of State
Illinois                             Secretary of State

</TABLE>

39. Allied Mobility Transportation, Inc.

<TABLE>
<CAPTION>

STATE                                COUNTY/PARISH
-----                                -------------
<S>                                  <C>
Delaware                             Secretary of State
Illinois                             Secretary of State

</TABLE>

40. Allied Universal Transportation, Inc.

<TABLE>
<CAPTION>

STATE                                COUNTY/PARISH
-----                                -------------
<S>                                  <C>
Delaware                             Secretary of State
Illinois                             Secretary of State

</TABLE>

                                       14
<PAGE>

41. Allied Van Lines, Inc. of Indiana

<TABLE>
<CAPTION>

STATE                                COUNTY/PARISH
-----                                -------------
<S>                                  <C>
Indiana                              Secretary of State
Illinois                             Secretary of State

</TABLE>

42. Allied Van Lines Terminal Company

<TABLE>
<CAPTION>

STATE                                COUNTY/PARISH
-----                                -------------
<S>                                  <C>
Delaware                             Secretary of State
Illinois                             Secretary of State

</TABLE>

43. Meridian Mobility Resources, Inc.

<TABLE>
<CAPTION>

STATE                                COUNTY/PARISH
-----                                -------------
<S>                                  <C>
Delaware                             Secretary of State
Illinois                             Secretary of State

</TABLE>

44. Trident Transport International, Inc.

<TABLE>
<CAPTION>

STATE                                COUNTY/PARISH
-----                                -------------
<S>                                  <C>
Delaware                             Secretary of State
Illinois                             Secretary of State

</TABLE>

45. TransGuard Insurance Company of America, Inc.

<TABLE>
<CAPTION>

STATE                                COUNTY/PARISH
-----                                -------------
<S>                                  <C>
Illinois                             Secretary of State

</TABLE>

                                       15
<PAGE>

46. Allied Alliance Forwarding, Inc.

<TABLE>
<CAPTION>

STATE                                COUNTY/PARISH
-----                                -------------
<S>                                  <C>
Delaware                             Secretary of State
Illinois                             Secretary of State

</TABLE>

47. Allied Continental Forwarding, Inc.

<TABLE>
<CAPTION>

STATE                                COUNTY/PARISH
-----                                -------------
<S>                                  <C>
Delaware                             Secretary of State
Illinois                             Secretary of State

</TABLE>

48. ClaimGuard, Inc.

<TABLE>
<CAPTION>

STATE                                COUNTY/PARISH
-----                                -------------
<S>                                  <C>
Delaware                             Secretary of State
Illinois                             Secretary of State

</TABLE>

49. TransGuard General Agency, Inc.

<TABLE>
<CAPTION>

STATE                                COUNTY/PARISH
-----                                -------------
<S>                                  <C>
Illinois                             Secretary of State
Oklahoma                             Secretary of State
Texas                                Secretary of State, Dallas

</TABLE>

                                       16
<PAGE>

                                  SCHEDULE 5.16

                                  SUBSIDIARIES

SUBSIDIARIES OF NA HOLDING CORPORATION

North American Van Lines, Inc. (Delaware) (100%)

SUBSIDIARIES OF NORTH AMERICAN VAN LINES, INC.

Allied Van Lines, Inc. (Delaware) (100%)
A Five Star Forwarding, Inc. (Delaware) (100%)
A Three Rivers Forwarding, Inc. (Indiana) (100%)
A-1 Above Van Lines, Inc. (Indiana) (100%)
A-1 Summit Van Lines, Inc. (Indiana) (100%)
Able Van Lines, Inc. (Indiana) (100%)
Alaska USA Van Lines, Inc. (Indiana) (100%)
Americas Best Van Lines, Inc. (Indiana) (100%)
Americas Quality Van Lines, Inc. (Indiana) (100%)
City Storage & Transfer, Inc. (Colorado) (100%)
Fleet Insurance Management, Inc. (Indiana) (100%)
FrontRunner Worldwide, Inc. (Delaware) (100%)
Great Falls North American, Inc. (Montana) (100%)
Move Management Services, Inc. (Indiana) (100%)
NACAL, Inc. (California) (100%)
NAVTRANS Container Lines, Inc. (Florida) (100%)
NAVTRANS International Freight Forwarding, Inc. (Indiana) (100%)
NORAM Forwarding, Inc. (Indiana) (100%)
North American Distribution Systems, Inc. (Indiana) (100%)
North American Forwarding, Inc. (Indiana) (100%)
North American International Holding Corporation (Delaware) (100%)
North American Logistics, Ltd. (Indiana) (100%)
North American Moving & Storage, Inc. (Indiana) (100%)
North American Transport Insurance Company (Indiana) (100%)
North American Van Lines of Texas, Inc. (Texas) (100%)
Relocation Management Systems, Inc. (Delaware) (100%)
World Class Van Lines, Inc. (Delaware) (100%)

<PAGE>

SUBSIDIARY OF NORTH AMERICAN LOGISTICS, LTD.

Manufacturing Support Services, L.L.C. (Delaware) (51%)

SUBSIDIARIES OF NORTH AMERICAN INTERNATIONAL HOLDING CORPORATION

Mididata Spedition GMBH (Germany) (100%)
North American (U.K.) Limited (England) (99+%)
North American Van Lines Canada Ltd. (Canada) (100%)
NAVTRANS International Speditions GMBH (Germany) (100%)
Westmount Moving & Storage, Inc. (Canada) (99+%)
NA Acquisition (Ireland) (100%)
NFC International Holdings (Australasia) Pty Ltd (Aus) (100%)
NA (UK) GP Corporation (Delaware) (100%)
NA (UK) Limited Partnership (Delaware) (Limited Partner)
Allied Arthur Pierre SA (Lux) (100%)
Allied Pickfords KeS Kft (Hun) (100%)
A.L. Movers Private Ltd (India) (45%)
Allied Pickfords LLC (UAE) (49%)
Allied Pickfords Ltd (Hong Kong) (100%)
NFC Investment Asia Pacific Pte Ltd (Sing) (100%)
Pierre Finance (Neth) Renting BV (100%)
Allied Pickfords BV (Neth) (100%)
Allied Varekamp BV (Neth) (100%)
Allied Pickfords SP ZOO (Poland) (100%)
Allied Pickfords SRO (Czech) (100%)
Allied Arthur Pierre NV (Belgium) (100%)
Allied Arthur Pierre SA (France) (100%)
Allied International SA (Spain) (100%)

SUBSIDIARY OF NFC INTERNATIONAL HOLDINGS (AUSTRALASIA) PTY LTD

Allied Pickfords Pty Ltd (Aus) (100%)

SUBSIDIARIES OF ALLIED PICKFORDS PTY LTD

Trans International Moving & Shipping Pty Ltd (Aus) (100%)
NFC Australasia Superannuation Pty Ltd (Aus) (100%)
Downward Pickfords (North Queensland) Pty Ltd (Aus) (100%)
NFC New Zealand Ltd (NZ) (100%)

                                       2
<PAGE>

SUBSIDIARIES OF NFC NEW ZEALAND LTD

Allied Pickfords Ltd (NZ) (100%)
Trans International Moving & Shipping (NZ) 1992 Ltd (NZ) (100%)
Imaging Systems (NZ) Ltd (NZ) (100%)

SUBSIDIARIES OF NA (UK) LIMITED PARTNERSHIP

NA Acquisition (UK) Limited (100%)

SUBSIDIARIES OF NA ACQUISITION (UK) LIMITED

Pickfords Ltd. (E&W) (100%)

SUBSIDIARIES OF PICKFORDS LTD.

Pickfords 1999 Limited (E&W) (100%)
A&N Removals Ltd (E&W) (100%)
Arthur Pierre (UK) Ltd (E&W) (100%)
Bullens Ltd (E&W) (100%)
Hoults Removals Ltd (E&W) (100%)
GB Crate Hire Ltd (E&W) (100%)
NFC Moving Services Ltd (E&W) (100%)
Pitt & Scott Ltd (E&W) (100%)
Allied Pickfords Ltd (E&W) (100%)
Pickfords Manhire Ltd (UK) (100%)
Irish Securities Ltd (NI) (100%)
Moving Services Property Ltd (E&W) (100%)
Removedeal Ltd (E&W) (100%)
Irish Security Archives Ltd (Ire) (100%)

SUBSIDIARY OF IRISH SECURITY ARCHIVES LTD

Allied Pickfords Ltd (Ire) (100%)

EQUITY INTEREST OF PICKFORDS 1999 LIMITED

The Baxendale Insurance Company Ltd (Ire) (10%)

SUBSIDIARIES OF ALLIED PICKFORDS LTD (HONG KONG)

                                       3
<PAGE>

Pickfords Worldwide Moving Ltd (HK)
Pickfords Ltd (HK) (100%)

SUBSIDIARIES OF NFC INVESTMENT ASIA PACIFIC PTE LTD

Allied Pickfords (S) Pte Ltd (Sing) (100%)
Allied Pickfords (M) Sdn Bhd (Mal) (100%)

SUBSIDIARY OF NA ACQUISITION (IRELAND)

The Baxendale Insurance Company Ltd (Ire) (90%)

SUBSIDIARY OF MIDIDATA SPEDITION GMBH

Mididata Logistik GMBH (Germany) (100%)

SUBSIDIARY OF NORTH AMERICAN VAN LINES CANADA LTD.

North American Platinum Transportation Group Ltd. (Canada) (100%)

SUBSIDIARIES OF ALLIED VAN LINES, INC.

A Relocation Solutions Management Company (Delaware) (100%)
A.V.L. Transportation, Inc. (Delaware) (100%)
Allied International N.A., Inc. (Delaware) (100%)
Allied Interstate Transportation, Inc. (Delaware) (100%)
Allied Mobility Transportation, Inc. (Delaware) (100%)
Allied Universal Transportation, Inc. (Delaware) (100%)
Allied Van Lines, Inc. of Indiana (Indiana) (100%)
Allied Van Lines Terminal Company (Delaware) (100%)
Meridian Mobility Resources, Inc. (Delaware) (100%)
Trident Transport International, Inc. (Delaware) (100%)
TransGuard Insurance Company of America, Inc. (Illinois) (100%)
Vanguard Insurance Agency, Inc. (Illinois) (100%)

SUBSIDIARY OF ALLIED VAN LINES TERMINAL COMPANY

Allied Freight Forwarding, Inc. (Delaware) (100%)

                                       4
<PAGE>

SUBSIDIARIES OF ALLIED FREIGHT FORWARDING, INC.

Allied Alliance Forwarding, Inc. (Delaware) (100%)
Allied Continental Forwarding, Inc. (Delaware) (100%)
Allied Domestic Forwarding, Inc. (Delaware) (100%)
Allied Intermodal Forwarding, Inc. (Delaware) (100%)
Allied Transcontinental Forwarding, Inc. (Delaware) (100%)
Allied Transportation Forwarding, Inc. (Delaware) (100%)

SUBSIDIARY OF TRANSGUARD INSURANCE COMPANY OF AMERICA, INC.

ClaimGuard, Inc. (Delaware) (100%)

SUBSIDIARY OF VANGUARD INSURANCE AGENCY, INC.

TransGuard General Agency, Inc. (Oklahoma) (100%)

*All subsidiaries whose name contains the term "NFC" will undergo a name change
either prior to or immediately after the Effective Date to replace the term
"NFC" with "AWG."

                                       5
<PAGE>

                                SCHEDULE 8.2(e)

                             PERMITTED INDEBTEDNESS

1.         NAVL Canada Ltd. has a line of credit with Scotiabank for $2,500,000
           (Canadian dollars).

2.         Obligations of midiData Logistik GmbH specified as Item 8 on Schedule
           8.4(a) to the extent constituting Indebtedness.

3.         Indebtedness with respect to the 1,500,000 DM credit facility
           specified as Item 9 on Schedule 8.4(a).

4.         Obligations of NAVL and its Subsidiaries specified as Items 10 and 12
           on Schedule 8.4(a) to the extent constituting Indebtedness.

<PAGE>

                                SCHEDULE 8.3(j)

                                PERMITTED LIENS

The following liens identified by lien searches ordered in connection with the
closing:

1.         Judgment, dated as of June 16, 1995, in favor of Ferguson
           Transportation, Inc. and against NAVL in the amount of $1,300,000 was
           recorded in Nassau County, New York. A Satisfaction of Final Judgment
           was filed in Palm Beach County, Florida on April 4, 1997. A Notice of
           Filing the Clerk's Receipt evidencing the deposit of funds by NAVL in
           the amount of $1,987,633.96, was filed in Palm Beach County, Florida,
           on April 14, 1997.

2.         Judgment, dated as of October 20, 1990, in favor of Bruce D. Rodgers,
           Sr. and Carol Rodgers and against NAVL in the amount of $30,000 was
           recorded in Camden County, New Jersey. A written release, dated as of
           September 4, 1990, was signed evidencing payment of $35,000. A
           Stipulation of Dismissal with Prejudice was issued by the U.S.
           District Court for the District of New Jersey on September 14, 1990.

3.         Judgment, dated as of August 5, 1993, in favor of Casnel Sinclair and
           against NAVL in the amount of $6,979 was recorded in Fulton County,
           Georgia. A written release, dated as of October 4, 1993, was signed
           evidencing payment of $3,250. A Stipulation of Dismissal with
           Prejudice was issued by the State Court of Georgia on October 4,
           1990.

4.         Judgment, dated as of August 29, 1991, in favor of Jeff Beck and
           against NAVL and Victor Nilges in the amount of $4,000 was recorded
           in Cuyahoga County, Ohio. A written release, dated as of July 14,
           1992, was signed evidencing payment of $4,000.

5.         Judgment, dated as of June 4, 1991, in favor of R. Clarke Maiocco and
           against NAVL in the amount of $132.50 was recorded in Fulton County,
           Georgia. Internal NAVL records indicate the judgment was paid as of
           June 27, 1991.

6.         Judgment in favor of John and Ann Foltz and against NAVL in the
           amount of $1,460.09 recorded in Wake County, North Carolina. Internal
           NAVL records indicate the judgment was paid as of March 8, 1988 in
           the amount of $1,460.09.

<PAGE>

7.         Judgment in favor of Fred L. Moye and against NAVL in the amount of
           $154.50 recorded in Wake County, North Carolina. Internal NAVL
           records indicate the judgment was paid as of November 20, 1992 in the
           amount of $154.85.

8.         Judgment, dated as of March 14, 1985, in favor of Allied Stores Inc.
           and T/A Sterns Inc. and against NAVL Agency in the amount of $550.92
           was recorded in New Jersey.

9.         Judgment, dated as of January 15, 1993, in favor of the City of
           Kentwood regarding title and possession of real property, recorded in
           Kent County, Michigan.

10.        Judgment, dated as of March 16, 1998, in favor of Keith D. Whitlock,
           Sr. and against North American Van Lines Claims Department in the
           amount of $94,067, recorded in Dallas County, Texas.

11.        Judgment, dated as of April 21, 1992, in favor of Barbara Moorer, et
           al. and against Allied Van Lines, Inc. et al. in the amount of
           approximately $22,000, recorded in Jefferson County, Texas.

12.        Judgment, dated as of April 15, 1999 in favor of Arthur Price and
           against North American Van Lines Claims Department in the amount of
           $1,176, recorded in Dallas County, Texas.

13.        Judgment, dated as of March 24, 1994 in favor of Michaela Andruzzi
           and against North American Van Lines in the amount of $390.75,
           recorded in Salt Lake County, Utah.

14.        Financing Statement Number 2121442 in favor of IBM Credit
           Corporation. (IBM Equipment)

15.        Financing Statement Number 2132417 in favor of Amdahl Corporation.
           (Computer Equipment)

16.        Financing Statement Number 2215456 in favor of Pitney Bowes Credit
           Corporation. (Pitney Bowes Equipment)

17.        Financing Statement Number 2224177 in favor of General Electric
           Capital Corporation.  (Kentucky Van Trailers)

18.        Financing Statement Number 2225833 in favor of Nationscredit
           Commercial Corporation.  (Computer Equipment)

                                       2
<PAGE>

19.        Financing Statement Number 2253629 in favor of Associates Leasing,
           Inc.  (4 1999 Nissan Vehicles)

20.        Financing Statement Number 2253903 in favor of WINR Business Credit,
           a trade name of Winthrop Resources Corporation. (Specified leased
           property and specified leased furniture)

21.        Financing Statement Number 2260643 in favor of General Electric
           Capital Corporation.  (Furniture Trailers, 30 Kentucky Furniture
           Trailers with Leyman Lift Gates and 80 Kentucky Furniture Trailers)

22.        Financing Statement Number 2266441 in favor of General Electric
           Capital Corporation.  (39 1999 Kentucky Furniture Trailers and 50
           1999 Strick Furniture Trailers)

23.        Financing Statement Number 2267093 in favor of Gelco Corporation dba
           GE Capital Fleet Services.  (25 Cargo Master 8000 Series Cranes)

24.        Financing Statement Number 2269714 in favor of General Electric
           Capital Corporation.  (46 1999 Kentucky Furniture Trailers)

25.        Financing Statement Number 2274059 in favor of General Electric
           Capital Corporation.  (18 1999 Kentucky Trailers (Model FVCC)

26.        Financing Statement Number 2275164 in favor of Amdahl Corporation.
           (18 1999 Kentucky Trailers (Model FVCC) and 180 1999 Kentucky
           Trailers (Model FVCC-D))

27.        Financing Statement Number 2278229 in favor of General Electric
           Capital Corporation.  (2 1999 Kentucky Trailers (Model FVCC) and 25
           1999 Kentucky Trailers (Model FVCC-D))

28.        Financing Statement Number 2279529 in favor of General Electric
           Capital Corporation.  (5 Kentucky Trailers)

29.        Financing Statement Number 2280482 in favor of Telimagine, Inc.
           (Specified leased video and computer equipment)

30.        Financing Statement Number 199906070143421 in favor of Caterpillar
           Financial Services Corporation.  (3 Caterpillar Lift Trucks lease)

                                       3
<PAGE>

31.        Financing Statement Number 199917012 in favor of MCI Capital
           Services.  (Leased Equipment and Software)

32.        Financing Statement Number 002764069 in favor of Pitney Bowes Credit
           Corp. (two 1990 Kenworth Tractors and one 1990 Kentucky Trailer)

33.        Financing Statement Number 002808774 in favor of Pitney Bowes Credit
           Corp. (two 1990 IHC Straight Trucks, two 1990 Kenworth Tractors and
           one 1990 Semi Trailer)

34.        Financing Statement Number 002936792 in favor of Security Pacific
           Equipment Leasing Inc. (Trailers, tractors and trucks)

35.        Financing Statement Number 003035701 in favor of Forsythe McArthur
           Associates, Inc. (Computer, data processing, telecommunications and
           other equipment)

36.        Financing Statement Number 003204943 in favor of Fleet Credit Corp
           nka Fleet Capital Corp. (Various truck, tractors and trailers)

37.        Financing Statement Number 003639803 in favor of Fleet Capital Corp.
           as Agent. (Sprint Phone System)

38.        Financing Statement Number 003639804 in favor of Fleet Capital Corp.
           as Agent. (Computer Equipment)

39.        Financing Statement Number 003690547 in favor of General Electric
           Capital Corp. (Specified Equipment)

40.        Financing Statement Number 003691837 in favor of Fleet Capital Corp.
           as Agent.  12 GB Upgrade Raide Access Storage)

41.        Financing Statement Number 003763095 in favor of Bell & Howell
           Publication Systems Co.  (Reader/Printer, Prism Lens, Workstation)

42.        Financing Statement Number 003770965 in favor of General Electric
           Capital Corp. (Specified Vehicles)

43.        Financing Statement Number 003780753 in favor of Bell & Howell
           Document Management Products Co.  (ABR 2600 Reader Printer and Zoom
           Lens and Carrier)

                                       4
<PAGE>

44.        Financing Statement Number 003835278 in favor of Associates
           Commercial Corp. (Thirteen Specified Vehicles)

45.        Financing Statement Number 003904936 in favor of American
           Technologies Credit Inc. (Qualcomm tracking units)

46.        Financing Statement Number 004004508 in favor of MCI Capital
           Services.  (Leased Equipment and Software)

47.        Financing Statement Number 004008517 in favor of Associates
           Commercial Corp. (Twenty-five Specified Vehicles)

48.        Financing Statement Number 004018707 in favor of MCI Capital
           Services.  (Leased Equipment and Software)

49.        Financing Statement Number 004047113 in favor of Banc One Leasing
           Corp. (Specified Equipment)

50.        Financing Statement Number 004062967 in favor of American
           Technologies Credit Inc.  (Omnitracs Systems)

51.        Financing Statement Number 004071402 in favor of American
           Technologies Credit Inc.  (Qualcomm Mobile Units)

52.        Financing Statement Number 004085489 in favor of American
           Technologies Credit Inc.  (Qualcomm Mobile Units)

53.        Financing Statement Number 004101318 in favor of MCI Capital
           Services.  (Leased Equipment and Software)

54.        Financing Statement Number 93-00245029 in favor of Fleet Credit
           Corporation. (Leased Specified Truck and Trailers)

55.        Financing Statement Number 99-00070678 in favor of MCI Capital
           Services. (Leased Equipment Software)

56.        Tax Lien Number 9608609421301, dated as of April 8, 1996, in favor of
           the Illinois Department of Revenue against Vanguard Insurance Agency,
           Inc., in the amount of $5,693.15.

                                       5
<PAGE>

57.        Liens listed in Schedule 2.12(a)(ii)(A) to the Disclosure Letter,
           dated as of September 14, 1999 from NFC plc to NA Holding
           Corporation.

58.        Tax liens identified in Attachment 8.3(j)(57) hereto.

                                       6
<PAGE>

                                 SCHEDULE 8.4(a)

                              GUARANTEE OBLIGATIONS

1.                    Guarantee given by NAVL Canada Ltd., dated as of December
                      31, 1989, to the Bank of Nova Scotia in connection with
                      the Promissory Note issued by Household Movers & Shippers
                      Limited, dated June 16, 1989, in the original principal
                      amount of $987,499.99 (Canadian dollars).

2.         Guarantee given by NAVL, dated as of May 12, 1999, to Scotiabank in
           connection with NAVL Canada Ltd.'s line of credit for $2,500,000
           (Canadian dollars).

3.         Guarantee given by NAVL Canada Ltd., dated as of February 9, 1996, to
           Canadian Imperial Bank of Commerce in connection with a loan issued
           to Charles Fair and Penny Fair, who in turn are re-lending to
           Dolittle Services, Ltd., an agent of NAVL, in the amount of $50,000
           (Canadian dollars).

4.         The following Letters of Credit:

<TABLE>
<CAPTION>
                                                                    START DATE/
ISSUER/BENEFICIARY                             AMOUNT               EXP. DATE                REASON

NATIONAL CITY BANK OF
INDIANA

<S>                                            <C>                  <C>                      <C>
1.  Old Republic Ins. Co.                      $100,000             12/31/98-                Transtar Auto Insurance
                                                                    12/31/99

THE CHASE MANHATTAN
BANK

1.  Air Cargo                                  $20,000              4/2/99-4/2/00            Association Membership
2.  Spieker Properties                         $17,500              7/1/99-7/1/00            San Diego, CA Lease
3.  Clearview Limited                          $100,000             9/1/98-9/1/00            Edison, NJ Lease
    Partnership

4.  Golden Springs Development                 $500,000             9/23/99-9/23/00          Santa Fe Springs, CA
                                                                                             Lease

5.  Protective Insurance                       $9,645,000           2/28/97-3/3/00           Bodily injury and
    Company                                                                                  property fund
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
<S>                                            <C>                  <C>                      <C>
6.  Safeco Insurance Company of                $2,300,000           12/20/96-                Bonds
    America                                                         12/22/99
7.  Chubb and Son, Inc.                        $250,000             2/28/97-3/3/00           Reinsurance
8.  Houston Casualty Company                   $260,000             2/28/97-2/28/00          Reinsurance
9.  Republic Underwriterers                    $1,650,000           12/31/96-                Reinsurance
    Insurance Company                                               12/31/99

10. Underwriters at Lloyds                     $2,000,000           3/10/99-3/10/00          Bodily injury and
                                                                                             property fund
</TABLE>

<TABLE>
<CAPTION>
FIRST UNION

<S>                                            <C>                  <C>                      <C>
1.  American Technologies Credit, Inc.         $1,000,000           7/1/99-7/1/01            Lease for Qualcomm
                                                                                             truck tracking units
2.  American Technologies Credit, Inc.         $110,000             7/28/99-7/7/01           Lease for Qualcomm
                                                                                             truck tracking units
3.  American Technologies Credit, Inc.         $2,600,000           9/1/99-7/7/01            Lease for Qualcomm
                                                                                             truck tracking units
</TABLE>

5.         Indemnity Agreements

           a.         General Indemnity Agreement between St. Paul Fire and
                      Marine Insurance Company and NAVL, dated as of March 18,
                      1998 entered into in connection with the execution of
                      bonds for NAVL and its subsidiaries, as supplemented.

6.         Active Surety Bonds of NAVL and Subsidiaries

           See attached listing regarding bonds issued under Item 5(a) above.

7.         Equipment lease guarantees by midiData Spedition GmbH of the
           following equipment leases entered into by midi Data Logistik GmbH.

<TABLE>
<CAPTION>
-------------------------------------------------------------
   EQUIPMENT                                        AMOUNT
<S>                                              <C>
-------------------------------------------------------------
vehicle HH-MD 465                                62,620.88 DM
-------------------------------------------------------------
vehicle DZ-MD 26 (KYF-MD 17)                     62,567.08 DM
-------------------------------------------------------------
vehicle F0-DT 375 (F0-DT 175)                    60,249.96 DM
-------------------------------------------------------------
</TABLE>

                                       2
<PAGE>

<TABLE>
<CAPTION>
-------------------------------------------------------------
   EQUIPMENT                                         AMOUNT
<S>                                             <C>
-------------------------------------------------------------
vehicle F0-DT 148                                95,916.15 DM
-------------------------------------------------------------
vehicle F0-DT 183                               103,581.99 DM
-------------------------------------------------------------
vehicle DZ-MD 14 (KYF-MD 21)                     99,363.78 DM
-------------------------------------------------------------
trailer GG-MD 153                                34,132.28 DM
-------------------------------------------------------------
trailer GG-MD 109                                34,132.28 DM
-------------------------------------------------------------
vehicle NE-MD 532 (GG-MD 158)                   112,812.41 DM
-------------------------------------------------------------
vehicle HH-MD 638                               104,295.50 DM
-------------------------------------------------------------
vehicle GG-MD 545                               137,430.00 DM
-------------------------------------------------------------
vehicle GG-MD 149                                18,294.38 DM
-------------------------------------------------------------
vehicle H-ML 971                                 66,518.08 DM
-------------------------------------------------------------
vehicle GG-MD 75                                 17,811.64 DM
-------------------------------------------------------------
vehicle LB-MD 218 (GG-MD 365)                   105,084.81 DM
-------------------------------------------------------------
vehicle MB 1424L                                137,544.06 DM
-------------------------------------------------------------
vehicle MB 1631L                                162,745.38 DM
-------------------------------------------------------------
vehicle MB 1628L                                149,657.34 DM
-------------------------------------------------------------
vehicle MB 817L                                  94,056.16 DM
-------------------------------------------------------------
vehicle MB 1528L                                153,829.92 DM
-------------------------------------------------------------
vehicle MB 817                                   84,645.24 DM
-------------------------------------------------------------
Design stage                                     91,116.84 DM
-------------------------------------------------------------
vehicle HH-MD 656                                     0.00 DM
-------------------------------------------------------------
vehicle HVL-MD 24                                     0.00 DM
-------------------------------------------------------------
vehicle HVL-MD 23                                45,529.80 DM
-------------------------------------------------------------
vehicle F0-DT 714                                     0.00 DM
-------------------------------------------------------------
vehicle H-ML 290                                      0.00 DM
-------------------------------------------------------------
</TABLE>
                                       3
<PAGE>

<TABLE>
<CAPTION>
-------------------------------------------------------------
   EQUIPMENT                                         AMOUNT
<S>                                            <C>
-------------------------------------------------------------
vehicle GG-MD 208                                14,320.28 DM
-------------------------------------------------------------
vehicle GG-MD 216                                     0.00 DM
-------------------------------------------------------------
vehicle GG-MD 221                                     0.00 DM
-------------------------------------------------------------
vehicle GG-MD 273                                     0.00 DM
-------------------------------------------------------------
vehicle LB-MD 417                                 6,687.29 DM
-------------------------------------------------------------
vehicle LB-MD 219                                94,145.10 DM
-------------------------------------------------------------
vehicle LB-MD 371                               137,030.40 DM
-------------------------------------------------------------
vehicle DZ-MD 21 (KYF-MD 12)                     40,739.71 DM
-------------------------------------------------------------
vehicle DZ-MD 33                                 15,367.76 DM
-------------------------------------------------------------
vehicle H-MD 306                                      0.00 DM
-------------------------------------------------------------
vehicle HH-MD 1097                                    0.00 DM
-------------------------------------------------------------
vehicle HH-MD 1621                                    0.00 DM
-------------------------------------------------------------
vehicle HVL-MD 25                                     0.00 DM
-------------------------------------------------------------
vehicle A-M 110                                  57,868.38 DM
-------------------------------------------------------------
vehicle A-M 8757                                 90,271.44 DM
-------------------------------------------------------------
vehicle A-M 9890                                 80,806.88 DM
-------------------------------------------------------------
vehicle A-M 1137                                      0.00 DM
-------------------------------------------------------------
vehicle A-M 2827                                      0.00 DM
-------------------------------------------------------------
vehicle A-M 3699                                      0.00 DM
-------------------------------------------------------------
vehicle A-M 8832                                 85,367.76 DM
-------------------------------------------------------------
vehicle NE-MD 1241 (GG-MD 112)                   57,786.30 DM
-------------------------------------------------------------
vehicle NE-MD 1240 (GG-MD 124)                   57,766.30 DM
-------------------------------------------------------------
trailer GG-MD 170                                39,485.16 DM
-------------------------------------------------------------
trailer GG-MD 419                                     0.00 DM
-------------------------------------------------------------
</TABLE>
                                       4
<PAGE>

<TABLE>
<CAPTION>
-------------------------------------------------------------
   EQUIPMENT                                         AMOUNT
<S>                                            <C>
-------------------------------------------------------------
trailer GG-MD 430                                     0.00 DM
-------------------------------------------------------------
vehicle H-MD 570                                 57,257.18 DM
-------------------------------------------------------------
vehicle H-MD 760                                 57,786.30 DM
-------------------------------------------------------------
vehicle HVL-MD 80                                65,005.00 DM
-------------------------------------------------------------
vehicle HVL-MD 81                                56,005.60 DM
-------------------------------------------------------------
vehicle HVL-MD 82                                57,297.50 DM
-------------------------------------------------------------
vehicle HVL-MD 83                                57,297.50 DM
-------------------------------------------------------------
trailer GG-MD 195                                39,485.16 DM
-------------------------------------------------------------
</TABLE>

8.         Other guarantees given by midiData Spedition GmbH with respect to
           obligations of midiData Logistik GmbH specified below.

                                       5
<PAGE>

                OBLIGATIONS OF MIDIDATA SPEDITION/LOGISTIK GMBH
                                 AS OF 8/31/99

<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------------------------------
GUARANTOR             DEBTOR       SUBJECT                                 GUARANTEE GIVEN TO                      AMOUNT/DM
<S>                   <C>          <C>                                     <C>                                     <C>
-------------------------------------------------------------------------------------------------------------------------------
NAVL/Commerzbank      midiLOG      Customs Duty                            Hauptzollamt                            50.000,00 DM
-------------------------------------------------------------------------------------------------------------------------------
NAVL/Commerzbank      midiLOG      Customs Duty                            Hauptzollamt                            50.000,00 DM
-------------------------------------------------------------------------------------------------------------------------------
NAVL/Commerzbank      midiLOG      Hauptzollamt Ausfuhr                    Hauptzollamt Ausfuhr                    20.000,00 DM
-------------------------------------------------------------------------------------------------------------------------------
NAVL/Commerzbank      midiLOG      BDF                                     BDF                                     10.000,00 DM
-------------------------------------------------------------------------------------------------------------------------------
NAVL/Commerzbank      midiLOG      IATA                                    IATA                                    50.000,00 DM
-------------------------------------------------------------------------------------------------------------------------------
NAVL/Commerzbank      midiLOG      DEMEX SYSTEMBAU GmbH                    DEMEX SYSTEMBAU GmbH                    40.967,00 DM
-------------------------------------------------------------------------------------------------------------------------------
NAVL/Commerzbank      midiLOG      M. Korn, Dr. S. Korn, M. Arend GbR      M. Korn, Dr. S. Korn, M. Arend GbR      58.991.58 DM
-------------------------------------------------------------------------------------------------------------------------------
NAVL/Commerzbank      midiLOG      Johann Max Bottcher                     Johann Max Bottcher                     103.962,00 DM
-------------------------------------------------------------------------------------------------------------------------------
NAVL/Commerzbank      midiLOG      Brixton Estate Neuss GmbH               Brixton Estate Neuss GmbH               102.000,00 DM
-------------------------------------------------------------------------------------------------------------------------------
NAVL/Commerzbank      midiLOG      Werner Rindlaub                         Werner Rindlaub                         75.000,00 DM
-------------------------------------------------------------------------------------------------------------------------------
NAVL/Commerzbank      midiLOG      Thum + Taxis Imm. Service GmbH          Thum + Taxis Imm. Service GmbH          130.000,00 DM
-------------------------------------------------------------------------------------------------------------------------------
NAVL/Commerzbank      midiLOG      Notel Dasa Network Systems GmbH         Notel Dasa Network Systems GmbH         50.000,00 DM
-------------------------------------------------------------------------------------------------------------------------------
NAVL/Commerzbank      midiLOG      DEMEX SYSTEMBAU GmbH                    DEMEX SYSTEMBAU GmbH                    85.212,00 DM
-------------------------------------------------------------------------------------------------------------------------------
                                   Subtotal (Deutschmarks Guarantees)                                              826.132,58 DM
-------------------------------------------------------------------------------------------------------------------------------
NAVL/Commerzbank      midiLOG      Gruppe Internationaler                  GIM                                     10.320 DM
                                   Mobelspediteure e.v. (GM)
-------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
--------------------------------
GUARANTOR             AMOUNT/USD
<S>                   <C>
--------------------------------
NAVL/Commerzbank
--------------------------------
NAVL/Commerzbank
--------------------------------
NAVL/Commerzbank
--------------------------------
NAVL/Commerzbank
--------------------------------
NAVL/Commerzbank
--------------------------------
NAVL/Commerzbank
--------------------------------
NAVL/Commerzbank
--------------------------------
NAVL/Commerzbank
--------------------------------
NAVL/Commerzbank
--------------------------------
NAVL/Commerzbank
--------------------------------
NAVL/Commerzbank
--------------------------------
NAVL/Commerzbank
--------------------------------
NAVL/Commerzbank
--------------------------------
NAVL/Commerzbank      $6,000.00
--------------------------------
</TABLE>

                                       6
<PAGE>

9.                Letter of Comfort, dated January 21, 1998 and signed February
                  18, 1998, issued by NAVL to Commerzbank Aktiengesellschaft,
                  Frankfort Hoechst branch, regarding midiData Spedition GmbH
                  and midiData Logistik GmbH credit facility in the amount of
                  1,500,000 DM.

10.               Guarantee from NAVL to Generale Bank for Exel Logistics
                  (Belgium) NV and other Belgian companies, including Allied
                  Arthur Pierre NV (apx.
                  $BF55,000,000).

11.               Guarantee from NAVL for Contract between Woodside Offshore
                  Petroleum Pty. Ltd. (Western Australia) and Allied Pickfords
                  Pty. Ltd. (Victoria) (performance guarantee).

12.               Guarantee from Pickfords Limited, NA Moving Services Limited
                  and others to HSBC Bank plc (guarantee of a bank facility in
                  the amount of 5,000,000 Pounds).

                                       7
<PAGE>

                                SCHEDULE 8.9(c)

                             PERMITTED INVESTMENTS

1.                NAVL holds a 51% interest in Manufacturing Support Services
                  L.L.C., with a capital investment of $554,880.

2.                NAVL holds a 40% interest in UTS Europe Holding, B.V., a Dutch
                  household goods removal company, with a capital investment of
                  $213,178.

3.                                  NAVTRANS International Freight Forwarding,
                                    Inc. holds a 20% interest in Net-Trans Pty.
                                    Ltd., an Australian freight forwarding
                                    company with a capital investment of $3,864.

4.                Note/indebtedness in the amount of $1,200,000 held by NAVL
                  from Thomas James Malloy, an agent of NAVL, dated as of
                  September 29, 1995 and signed October 3, 1995.

5.                Promissory note in the principal amount of $1,000,000 issued
                  to NAVL by University Moving & Storage Company, dated as of
                  March 19, 1997, as amended as of June 16, 1999. The current
                  principal value on this note is $380,000.

6.                NAVL holds a twenty-five percent interest in Conquest
                  Partners, LLP which was formed for the purpose of purchasing
                  and operating a 1982 Cessna Citation aircraft.

7.                Amended Restated and Consolidated Promissory Note in the
                  principal amount of $1,090,293.40 issued to Allied Van Lines,
                  Inc. by Connell Storage & Moving Co., Inc., dated as of
                  September 22, 1994.

8.                Promissory Note in the principal amount of C$670,562.00 issued
                  to Allied Van Lines Limited and Western Cartage and Storage
                  (1962) Ltd. by APM Delstar Inc., dated as of April 26, 1996.

9.                Promissory Note in the principal amount of C$800,000 issued to
                  Allied Van Lines, a division of NFC Canada Ltd. by APM Delstar
                  Inc., dated as of October 31, 1997.

10.               Promissory Note in the principal amount of C$912,711.30 issued
                  to Allied Van Lines, a division of NFC Canada Ltd. by APM
                  Delstar Inc., dated as of October 31, 1996.

<PAGE>

11.               Promissory Note in the principal amount of C$874,704.09 issued
                  to NFC Canada Ltd. by APM Delstar Inc., dated as of September
                  29, 1998.

12.               Promissory Note in the principal amount of C$300,000 issued to
                  Allied Van Lines Limited by APM Delstar Inc., dated as of
                  September 29, 1995.

13.               Promissory Note in the principal amount of C$553,830.00 issued
                  to Allied Van Lines Limited by APM Delstar Inc., dated as of
                  January 2, 1996.

14.               Promissory Note in the principal amount of C$296,170 issued to
                  Allied Van Lines Limited by APM Delstar Inc., dated as of
                  March 1, 1996.

15.               Promissory Note in the principal amount of C$150,000 issued to
                  Allied Van Lines Limited by APM Delstar Inc., dated as of
                  March 5, 1996.

16.               Conditional Sales Agreement with terms related to payment of
                  purchase price among Western Cartage & Storage (1962) Ltd. and
                  APM Delstar Inc. and Dixon Van Lines, Ltd., Wallace Warehouse
                  & Cartage Ltd., and Western Moving & Storage Ltd. The sum of
                  C$1,632,911.25 is to be paid to Western Cartage & Storage
                  (1962) Ltd. by APM Delstar Inc. pursuant to the terms of the
                  agreement.

17.               Promissory Note in the principal amount of C$650,000 issued to
                  NFC Canada Ltd. by APM Delstar Inc., dated as of September 29,
                  1998.

18.               Promissory Note in the principal amount of C$325,000 issued to
                  NFC Canada Ltd. by APM Delstar Inc., dated as of September 29,
                  1998.

19.               Conversion Agreement by and between Allied Van Lines Ltd. and
                  Jay B. Lilge and MacCosham Van Lines (Canada) Co. Ltd.
                  whereby Allied would lend up to C$800,000 to Lilge and
                  MacCosham. As of November 15, 1999, the amount outstanding
                  on the Conversion Agreement is C$310,225.32. A further
                  C$400,000 would become due and payable upon the occurrence
                  of certain specified events such as MacCosham's termination
                  of its agency contract prior to the tenth anniversary
                  thereof.

20.               North American International Holding Corporation holds a 45%
                  interest in A.L. Movers Private Ltd (India).

21.               North American International Holding Corporation holds a 49%
                  interest in Allied Pickfords LLC (UAE).

                                       2
<PAGE>

22.               Other Equity Interests:

<TABLE>
<CAPTION>
-------------------------------------------------------------------------------
COMPANY                                        SHARES           CERTIFICATE NO.
<S>                                            <C>              <C>
-------------------------------------------------------------------------------
ABW Systems Corporation                        9294             81
-------------------------------------------------------------------------------
Allied Products Corporation                    20               CS16014
-------------------------------------------------------------------------------
Allied Products Corporation                    61               CS16010
-------------------------------------------------------------------------------
American Healthcare Management, Inc.           420              AHM65
-------------------------------------------------------------------------------
America West Airlines, Inc.                    710              B18278
-------------------------------------------------------------------------------
Ames Department Stores, Inc.                   34               RC20564
-------------------------------------------------------------------------------
Ames Department Stores, Inc.                   35               RC11917
-------------------------------------------------------------------------------
Ames Department Stores, Inc.                   153              RC6556
-------------------------------------------------------------------------------
Anoka County Farm Bureau Service               1                A3181
Association
-------------------------------------------------------------------------------
Anoka County Farm Service Cooperative          2                A4017
-------------------------------------------------------------------------------
ARIX Corporation                               468              SFU8413
-------------------------------------------------------------------------------
Astrodata, Inc.                                143              LU459
-------------------------------------------------------------------------------
Century Geophysical Corporation                24               TCU33477
-------------------------------------------------------------------------------
Chipwich, Inc.                                 43               CH0219
-------------------------------------------------------------------------------
Comstar Corporation                            52               1109
-------------------------------------------------------------------------------
Compace Corporation                            299              12210
-------------------------------------------------------------------------------
Computer Devices, Inc.                         18               P276
-------------------------------------------------------------------------------
Computone Corporation                          50               C0394
-------------------------------------------------------------------------------
Computr Ex Centres Ltd.                        26               A-055
-------------------------------------------------------------------------------
Containers Terminal of Baltimore, Inc.         10               1
-------------------------------------------------------------------------------
Continental Information Systems                76               CIS1331
Corporation
-------------------------------------------------------------------------------
Continental Information Systems                6                CIS2218
Corporation
-------------------------------------------------------------------------------
</TABLE>

                                       3
<PAGE>

<TABLE>
<CAPTION>
-------------------------------------------------------------------------------
COMPANY                                    SHARES           CERTIFICATE NO.
<S>                                        <C>              <C>
-------------------------------------------------------------------------------
Continental Information Systems            1                CIS3603
Corporation
-------------------------------------------------------------------------------
Digitech, Inc.                             166              P3662
-------------------------------------------------------------------------------
Extek Microsystems, Inc.                   554              LU5122
-------------------------------------------------------------------------------
M.H. Fishman Co. Inc.                      20               FC024300
-------------------------------------------------------------------------------
Foodbrands America, Inc.                   123              FBA0429
-------------------------------------------------------------------------------
Foodbrands America, Inc.                   2                FBA2384
-------------------------------------------------------------------------------
Gamex Industries, Inc.                     8897             U19502
-------------------------------------------------------------------------------
Hillcrest Carpets, Inc.                    28               CPS0156
-------------------------------------------------------------------------------
Interdyne Company                          1323             N2100
-------------------------------------------------------------------------------
Jetflorida, Inc.                           14               JCO612
-------------------------------------------------------------------------------
W.P. Acquisition Corporation               10               272
-------------------------------------------------------------------------------
Keydata Corporation                        1985             B3577
-------------------------------------------------------------------------------
Keydata Corporation                        4                B5007
-------------------------------------------------------------------------------
Lezak Group Inc.                           8477             LA003217
-------------------------------------------------------------------------------
Lori Corporation                           5                LC339
-------------------------------------------------------------------------------
MPS International Corp.                    26               05242
-------------------------------------------------------------------------------
Maxicare Health Plans, Inc.                22               M9399
-------------------------------------------------------------------------------
Maxicare Health Plans, Inc.                16               M3372
-------------------------------------------------------------------------------
Maxicare Health Plans, Inc.                37               M15367
-------------------------------------------------------------------------------
Miller Shoe Industries, Inc.               1503             MSU514
-------------------------------------------------------------------------------
Miller Shoe Industries, Inc.               2074             MSU264
-------------------------------------------------------------------------------
Paladin Computer Systems, Inc.             961              160
-------------------------------------------------------------------------------
Pet Bazaar, Inc.                           184              CU959
-------------------------------------------------------------------------------
Pizza Inn, Inc.                            98               PI5525
-------------------------------------------------------------------------------
</TABLE>

                                       4
<PAGE>

<TABLE>
<CAPTION>
-------------------------------------------------------------------------------
COMPANY                                  SHARES            CERTIFICATE NO.
<S>                                      <C>               <C>
-------------------------------------------------------------------------------
Pizza Inn, Inc.                          330               PI0116
-------------------------------------------------------------------------------
RM Electronics Company, Inc.             19                60
-------------------------------------------------------------------------------
Ramtek Corporation                       1948              SF0294
-------------------------------------------------------------------------------
Ranger Industries, Inc.                  3                 N4353
-------------------------------------------------------------------------------
Ranger Industries, Inc.                  62                N1330
-------------------------------------------------------------------------------
Ranger Industries, Inc.                  5                 N1879
-------------------------------------------------------------------------------
Reunited Holdings, Inc.                  2200              RHO313
-------------------------------------------------------------------------------
Robeson Industries Corp.                 8                 RIC0429
-------------------------------------------------------------------------------
Santec Corporation                       1445              FBU16982
-------------------------------------------------------------------------------
Savin Corporation                        275               SVC681
-------------------------------------------------------------------------------
SeraCare, Inc.                           46                1249
-------------------------------------------------------------------------------
Servico, Inc.                            29                SI5188
-------------------------------------------------------------------------------
Servico, Inc.                            16                SI11854
-------------------------------------------------------------------------------
Servico, Inc.                            222               SI2112
-------------------------------------------------------------------------------
Servico, Inc.                            20                SI14396
-------------------------------------------------------------------------------
Servico, Inc.                            65                SI18011
-------------------------------------------------------------------------------
Servico, Inc.                            1                 SI22853
-------------------------------------------------------------------------------
Solvation, Inc.                          902               47
-------------------------------------------------------------------------------
Strata Search, Inc.                      3                 PC64
-------------------------------------------------------------------------------
Synergistics, Inc.                       791               5058
-------------------------------------------------------------------------------
Tetrahedron Associates, Inc.             173               JU626
-------------------------------------------------------------------------------
Thinking Machines Corporation            361               0067
-------------------------------------------------------------------------------
Thinking Machines Corporation            904               0067
-------------------------------------------------------------------------------
Triad Hotels                             7                 394
-------------------------------------------------------------------------------
Triad Hotels                             30                410
-------------------------------------------------------------------------------
</TABLE>

                                       5
<PAGE>

<TABLE>
<CAPTION>
-------------------------------------------------------------------------------
COMPANY                                       SHARES               CERTIFICATE NO.
<S>                                           <C>                  <C>
-------------------------------------------------------------------------------
Triad Hotels                                  7                    411
-------------------------------------------------------------------------------
United Merchants and Manufacturers, Inc.      4                    31007
-------------------------------------------------------------------------------
Vicom Systems, Inc.                           959.39388            PA-62
-------------------------------------------------------------------------------
Vicom Systems, Inc.                           36.51693             C-62
-------------------------------------------------------------------------------
World-Wide Technology Inc.                    131                  ZQ0006127
-------------------------------------------------------------------------------
Z&B Investments Co., Inc.                     810                  63
-------------------------------------------------------------------------------
AM Diagnostics, Inc.                          10                   AA0000389
-------------------------------------------------------------------------------
AM International, Inc.                        10                   ST 041647
-------------------------------------------------------------------------------
AM International, Inc.                        83                   ST 029599
-------------------------------------------------------------------------------
AM International, Inc.                        199                  ST 029518
-------------------------------------------------------------------------------
AM International, Inc.                        4                    ST 070712
-------------------------------------------------------------------------------
AM International, Inc.                        10                   ST 073502
-------------------------------------------------------------------------------
AM International, Inc.                        6                    ST 041563
-------------------------------------------------------------------------------
AM International, Inc.                        395                  ST 016090
-------------------------------------------------------------------------------
AM International, Inc.                        165                  ST 016101
-------------------------------------------------------------------------------
Apeco Corporation                             3                    CA16124
-------------------------------------------------------------------------------
Beehive International                         733                  SFS 91559
-------------------------------------------------------------------------------
Beehive International                         1683                 SFS 85585
-------------------------------------------------------------------------------
BSL Technology                                3348                 1452
-------------------------------------------------------------------------------
Helionetics, Inc.                             252                  SF 43574
-------------------------------------------------------------------------------
Helionetics, Inc.                             256                  SF 43575
-------------------------------------------------------------------------------
Helionetics, Inc.                             512                  SW 0211
-------------------------------------------------------------------------------
Helionetics, Inc.                             504                  SW 0210
-------------------------------------------------------------------------------
Imutech, Inc.                                 540                  8694
-------------------------------------------------------------------------------
KSW, Inc.                                     21                   KS 0026
-------------------------------------------------------------------------------
</TABLE>

                                       6
<PAGE>

<TABLE>
<CAPTION>
-------------------------------------------------------------------------------
COMPANY                                 SHARES               CERTIFICATE NO.
<S>                                     <C>                  <C>
-------------------------------------------------------------------------------
Mayflower Group, Inc.                   10                   M 0001284
-------------------------------------------------------------------------------
Minstar                                 10                   10771
-------------------------------------------------------------------------------
Norfolk Southern Corporation            60                   NS 043157
-------------------------------------------------------------------------------
Norfolk Southern Corporation            20                   N 901318
-------------------------------------------------------------------------------
Norfolk Southern Corporation            10                   N 199933
-------------------------------------------------------------------------------
Peripheral Systems, Inc.                239                  C01-0107
-------------------------------------------------------------------------------
Peripheral Systems, Inc.                197                  C01-0108
-------------------------------------------------------------------------------
Peripheral Systems, Inc.                56                   C01-0109
-------------------------------------------------------------------------------
Puridyne, Inc.                          270                  1006
-------------------------------------------------------------------------------
Savin Corporation                       24                   SVC 225
-------------------------------------------------------------------------------
Seatrain Lines, Inc.                    1845                 SLR 2007
-------------------------------------------------------------------------------
Seatrain Lines, Inc.                    3945                 SLR 2009
-------------------------------------------------------------------------------
Seatrain Lines, Inc.                    571                  SLW 0081
-------------------------------------------------------------------------------
Seatrain Lines, Inc.                    1219                 SLW 0085
-------------------------------------------------------------------------------
Servico, Inc.                           26                   SI 15347
-------------------------------------------------------------------------------
Servico, Inc.                           20                   SI 10051
-------------------------------------------------------------------------------
Servico, Inc.                           70                   SI 16582
-------------------------------------------------------------------------------
Servico, Inc.                           284                  SI 0120
-------------------------------------------------------------------------------
Servico, Inc.                           1                    SI 21267
-------------------------------------------------------------------------------
The Shirt Shed, Inc.                    233                  1087
-------------------------------------------------------------------------------
Storagetek                              2                    ST 66427
-------------------------------------------------------------------------------
Storagetek                              2                    ST 66426
-------------------------------------------------------------------------------
Telelogic, Inc.                         122                  299
-------------------------------------------------------------------------------
Templeton Energy, Inc.                  91                   C 21475
-------------------------------------------------------------------------------
Templeton Energy, Inc.                  24                   C 25102
-------------------------------------------------------------------------------
</TABLE>

                                       7
<PAGE>

<TABLE>
<CAPTION>
-------------------------------------------------------------------------------
COMPANY                                 SHARES               CERTIFICATE NO.
<S>                                     <C>                  <C>
-------------------------------------------------------------------------------
Tocoma Boatbuilding Co.                 172                  TBC 0104
-------------------------------------------------------------------------------
Tri-lite Inc.                           1                    TL 0461
-------------------------------------------------------------------------------
Tri-lite Inc.                           1                    TL0460
-------------------------------------------------------------------------------
Vanderbilt Gold Corporation             500                  LU 8069
-------------------------------------------------------------------------------
</TABLE>

                                       8

<PAGE>

                                SCHEDULE 8.11(v)

                     PERMITTED TRANSACTIONS WITH AFFILIATES

1.   Letter of Intent from UTS Europe Holding, B.V. to lease PROPAC
     containers from NAVL, dated as of June 15, 1994, and related
     agreements to be entered into.

2.   Agreement between NAVTRANS International Freight Forwarding,
     Inc. and Net-Trans Pty, Ltd., dated as of May 27, 1993, for
     each party to act as the nonexclusive agent of the other for
     the handling and forwarding of ocean and air cargo.

3.   Indemnification Agreement, dated as of March 30, 1998, among
     the Buyer, NAVL, Clayton, Dubilier & Rice, Inc. and CD&R Fund V.

4.   Consulting Agreement, dated as of March 30, 1998, among the
     Buyer, NAVL and Clayton, Dubilier & Rice, Inc., as amended by
     Amendment No. 1, dated April 1, 1998.

5.   Registration and Participation Agreement, dated as of March 30,
     1998, by and between the Buyer and CD&R Fund V, as amended.

6.   Amendment No. 1 to the Registration and Participation
     Agreement, dated as of the Closing Date, between NA Holding
     Corporation and Clayton, Dubilier & Rice Fund V Limited Partnership.

7.   Management and Cost Allocation Agreement, dated as of July 18,
     1990, by and between NAVL and North American Transport
     Insurance Company, as amended.

8.   Stock Subscription Agreement, dated as of March 30, 1998, by
     and between the Buyer and CD&R Fund V.

9.   Transition Services Agreement, dated as of the Closing Date,
     between NFC plc and NA Holding Corporation.

10.  Various shared facilities leases with Pickfords Ltd. and its
     Subsidiaries with respect to facilities located in the United
     Kingdom.

11.  Tax Matters Agreement between NA Holding Corporation and NFC
     plc, dated as of September 14, 1999.

<PAGE>

12.  Letter Agreement, dated as of the Closing Date, among NA
     Holding Corporation, North American Van Lines, Clayton,
     Dubilier & Rice Fund V Limited Partnership and NFC plc.

13.  Acquisition Agreement, dated as of September 14, 1999, between
     NFC plc and NA Holding Corporation.

14.  Stock Subscription Agreement, dated as of November 19, 1999,
     between NA Holding Corporation and Clayton, Dubilier & Rice
     Fund V Limited Partnership, a Cayman Islands exempted limited
     partnership.

15.  Stock Subscription Agreement, dated as of November 19, 1999,
     between NA Holding Corporation and NFC plc.

                                       2
<PAGE>

                                                                      Attachment
                                                                  Item 8.4(a)(6)

<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
    TYPE            ST            OBLIGEE                    PRINCIPAL                 AMOUNT          EFFECTIVE         EXPIRATION
-----------------------------------------------------------------------------------------------------------------------------------
<S>                 <C>         <C>                      <C>                        <C>               <C>                <C>
  Fidelity          IN          IN Dept. of              North American               150,000         01/16/1998         01/16/2001
                                Insurance                Transport Inc. Co.
-----------------------------------------------------------------------------------------------------------------------------------
  Game of           CN          Repe des                 North American Van             7,680         02/11/1999         02/11/2000
   Chance                       Alcoofs des              Lines Canada, Inc.
                                courses et des
                                Jeux
-----------------------------------------------------------------------------------------------------------------------------------
    Lost            OK          1st Bk of                North American Van            185.80         04/09/1998         04/09/2005
 Instrument                     Chandler/OK              Lines, Inc.
-----------------------------------------------------------------------------------------------------------------------------------
Toll Charge         FL          FL DOT                   North American Van            35,000         09/01/1999         08/01/2000
                                                         Lines, Inc.
-----------------------------------------------------------------------------------------------------------------------------------
Performance         US          GSA                      North American Van            20,000         11/01/1998         12/31/1999
                                                         Lines, Inc. (NAVI)
-----------------------------------------------------------------------------------------------------------------------------------
Performance         US          GSA                      North American Van            75,000         11/01/1998         12/31/1999
                                                         Lines, Inc. (NAVI)
-----------------------------------------------------------------------------------------------------------------------------------
    Lost            FL          Bank of                  North American Van         10,490.17         10/21/1998         10/21/2005
 Instrument                     Ormond by the            Lines, Inc.
                                Sea
-----------------------------------------------------------------------------------------------------------------------------------
    Lost            TX          Lone Star                North American Van          1,992.42         11/12/1998         11/12/2005
 Instrument                     Bank, N.A.               Lines, Inc.
-----------------------------------------------------------------------------------------------------------------------------------
   NVOOC            US          Federal                  FrontRunner                   75,000         04/20/1999         04/20/2000
                                Maritime                 Worldwide, Inc.
                                Commission
-----------------------------------------------------------------------------------------------------------------------------------
   NVOOC            US          Federal                  North American Van            95,000         04/20/1999         04/20/2000
                                Maritime                 Lines, Inc.
                                Commission
-----------------------------------------------------------------------------------------------------------------------------------
   NVOOC            US          Federal                  North American (U.K.)         75,000         04/20/1999         04/20/2000
                                Maritime                 Limited
                                Commission
-----------------------------------------------------------------------------------------------------------------------------------
   NVOOC            US          Federal                  NAVTRANS                     185,000         04/20/1999         04/20/2000
                                Maritime                 Container Lines, Inc.
                                Commission
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
    TYPE            ST            OBLIGEE                    PRINCIPAL                 AMOUNT          EFFECTIVE         EXPIRATION
-----------------------------------------------------------------------------------------------------------------------------------
<S>                 <C>         <C>                      <C>                        <C>               <C>                <C>
   Freight          US          Federal                  NAVTRANS IFF dba             160,000         04/20/1999         04/20/2000
  Forwarder                     Maritime                 No. Amer. Intl.
                                Commission
-----------------------------------------------------------------------------------------------------------------------------------
   Fuel Tax         OR          Oregon, State            North American Van             2,000         05/20/1999         05/20/2000
                                of                       Lines Canada Ltd.
-----------------------------------------------------------------------------------------------------------------------------------
    Escrow          IN          Duke Weeks               North American Van         4,000,000         09/20/1999         09/20/2000
  Guarantee                     Realty                   Lines, Inc.
-----------------------------------------------------------------------------------------------------------------------------------
Institutional       IN          IN                       North American Van             5,000         10/01/1999         10/01/2000
                                Commission               Lines, Inc.
                                on Proprietary
                                Education
-----------------------------------------------------------------------------------------------------------------------------------
     Lost                       U.S. Bank                Banasch, Marcia                1,914         10/21/1999         10/25/2008
  Instrument
-----------------------------------------------------------------------------------------------------------------------------------
   Producer         IL          Illinois Dept.           Fleet Insurance                1,000         10/17/1997         10/17/2000
                                of Ins.                  Management
-----------------------------------------------------------------------------------------------------------------------------------
    Liquor          PA          PA Liquor                North American Van             3,000         12/31/1997         12/31/1999
                                Control Board            Lines, Inc.
-----------------------------------------------------------------------------------------------------------------------------------
 Customs - CN       CN          Revenue                  North American Van            50,000         12/15/1998         12/15/1999
                                Canada                   Lines, Inc.
-----------------------------------------------------------------------------------------------------------------------------------
   Workers          IN          IN WCB                   North American Van         5,500,000         09/01/1998             UC
 Compensation                                            Lines, Inc.
-----------------------------------------------------------------------------------------------------------------------------------
 Customs - US       US          Dept. of the             North American Van           100,000         09/12/1998         09/12/1999
                                Treasury                 Lines Canada Ltd.
-----------------------------------------------------------------------------------------------------------------------------------
   Property         US          ICC                      NAVTRANS IFF dba              10,000         02/25/1999         02/26/2000
    Broker                                               No. Amer. Intl.
-----------------------------------------------------------------------------------------------------------------------------------
 Performance        US          Military                 North American Van            25,000         09/01/1995         03/01/1999
                                Traffic Mgmt.            Lines, Inc. (NAVH)
                                Command
-----------------------------------------------------------------------------------------------------------------------------------
 Performance        US          U.S. Dept. of            North American Van            25,000         09/28/1996         09/28/1998
                                State                    Lines, Inc. (NOAM)
-----------------------------------------------------------------------------------------------------------------------------------
 Toll Charge        PA          PA Turnpike              North American Van            10,000         09/22/1997         09/22/2000
                                Commission               Lines, Inc. (FLB)
-----------------------------------------------------------------------------------------------------------------------------------
 Toll Charge        PA          PA Turnpike              North American Van            15,000         09/22/1997         09/22/2000
                                Commission               Lines, Inc. (RSD)
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

                                       2
<PAGE>

<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
    TYPE            ST            OBLIGEE                    PRINCIPAL                 AMOUNT          EFFECTIVE         EXPIRATION
-----------------------------------------------------------------------------------------------------------------------------------
<S>                 <C>         <C>                      <C>                        <C>               <C>                <C>
 Toll Charge        NY          NY Thruway               North American Van         250,000           01/03/1999         01/03/2000
                                Authority                Lines, Inc.
-----------------------------------------------------------------------------------------------------------------------------------
     COD            CA          California               North American Van           2,000           01/01/1997         01/01/2000
                                PUC                      Lines, Inc.
-----------------------------------------------------------------------------------------------------------------------------------
     COD            CA          California               NACAL, Inc.                 15,000           01/01/1997         01/01/2000
                                PUC
-----------------------------------------------------------------------------------------------------------------------------------
  Subhauler         CA          California               NACAL, Inc.                 15,000           01/01/1997         01/01/2000
                                PUC
-----------------------------------------------------------------------------------------------------------------------------------
 Toll Charge        PA          PA Turnpike              North American Van          55,000           02/04/1999         02/04/2000
                                Commission               Lines, Inc. (HVP)
-----------------------------------------------------------------------------------------------------------------------------------
 Toll Charge        PA          PA Turnpike              North American Van          25,000           02/04/1999         02/04/2000
                                Commission               Lines, Inc. (BLK)
-----------------------------------------------------------------------------------------------------------------------------------
   Property         US          IDS/STB(?)               North American Van          10,000           02/17/1999         02/17/2000
    Broker                                               Lines, Inc.
-----------------------------------------------------------------------------------------------------------------------------------
  Performance       US          Military                 North American Van         185,465           03/31/1999         03/31/2000
                                Traffic Mgmt.            Lines, Inc.
                                Command
-----------------------------------------------------------------------------------------------------------------------------------
  Insurance         LA          LA                       Fleet Insurance             25,000           04/23/1999         04/23/2000
    Broker                      Commissioner             Management
                                of Insurance
-----------------------------------------------------------------------------------------------------------------------------------
  Insurance         LA          LA                       James E. Phillabaum         25,000           04/23/1999         04/23/2000
    Broker                      Commissioner
                                of Insurance
-----------------------------------------------------------------------------------------------------------------------------------
   Property         US          ICC                      FrontRunner                 10,000           04/19/1999         04/19/2000
    Broker                                               Worldwide, Inc.
-----------------------------------------------------------------------------------------------------------------------------------
  Subhauler         CA          California               North American Van          10,000           08/31/1997         08/31/2000
                                PUC                      Lines, Inc.
-----------------------------------------------------------------------------------------------------------------------------------
   Property         US          ICC                      North American              10,000           08/26/1997         08/26/2000
    Broker                                               Logistics Ltd.
-----------------------------------------------------------------------------------------------------------------------------------
   Freight          XX          TPAFBO                   North American Van         200,000           10/31/1997         10/31/2000
  Indemnity                                              Lines, Inc.
-----------------------------------------------------------------------------------------------------------------------------------
 Toll Charge        MA          MA Turnpike              North American Van           4,500           12/02/1997         12/02/2000
                                Authority                Lines, Inc.
-----------------------------------------------------------------------------------------------------------------------------------
   Property         US          ICC                      North American              10,000           01/08/1999         01/06/2000
    Broker                                               Forwarding, Inc.
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

                                       3
<PAGE>

<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
    TYPE            ST            OBLIGEE                    PRINCIPAL                 AMOUNT          EFFECTIVE         EXPIRATION
-----------------------------------------------------------------------------------------------------------------------------------
<S>                 <C>         <C>                      <C>                        <C>               <C>                <C>
   Freight          XX          TAAFLO                   North American Van         100,000           05/31/1999         05/31/2000
  Indemnity                                              Lines, Inc.
-----------------------------------------------------------------------------------------------------------------------------------
Institutional       IN          Indiana, State           No. Amer. Van Lines          5,000           02/22/1999         02/22/2000
                                of                       dba CDL Plus
-----------------------------------------------------------------------------------------------------------------------------------
   Freight          XX          Pasha                    North American Van          30,000           04/06/1999         04/06/2000
  Indemnity                     International            Lines, Inc.
-----------------------------------------------------------------------------------------------------------------------------------
  Financial         KY          KY, Common               James E. Phillabaum          1,000           06/19/1999         06/19/2000
Responsibility                  wealth of
-----------------------------------------------------------------------------------------------------------------------------------
 Customs - US       US          Dept. of the             North American Van         200,000           05/02/1999         05/02/2000
                                Treasury                 Lines, Inc.
-----------------------------------------------------------------------------------------------------------------------------------
  Employment        IN          Indiana, State           North American Van           5,000           07/05/1999         07/05/2000
    Agency                      of                       Lines, Inc.
-----------------------------------------------------------------------------------------------------------------------------------
  Insurance         IL          IL Dept. of              James E. Phillabaum          2,600           03/13/1999         03/13/2000
   Producer                     Insurance
-----------------------------------------------------------------------------------------------------------------------------------
 Highway Use        OR          Oregon PUC               North American Van          30,000           06/06/1999         06/05/2000
                                                         Lines, Inc.
-----------------------------------------------------------------------------------------------------------------------------------
 Toll Charge        NJ          NJ Turnpike              North American Van          60,000           09/25/1996         09/25/1999
                                Authority                Lines, Inc.
-----------------------------------------------------------------------------------------------------------------------------------
 Toll Charge        IN          IN DOT/Toll              North American Van          30,000           09/26/1996         09/25/1999
                                Road Division            Lines, Inc.
-----------------------------------------------------------------------------------------------------------------------------------
 Toll Charge        OH          Ohio Turnpike            North American Van         100,000           09/25/1996         09/25/1999
                                Commission               Lines, Inc.
-----------------------------------------------------------------------------------------------------------------------------------
 Toll Charge        MA          MA Turnpike              North American Van          15,000           09/25/1998         09/25/1999
                                Authority                Lines, Inc.
-----------------------------------------------------------------------------------------------------------------------------------
   Property         US          ICC                      Move Management             10,000           10/14/1998         10/14/1999
    Broker                                               Services, Inc.
-----------------------------------------------------------------------------------------------------------------------------------
 Performance        US          GSA                      North American Van          20,000           11/01/1998         10/31/1999
                                                         Lines, Inc.
-----------------------------------------------------------------------------------------------------------------------------------
Customs Suff.       CN          Revenue                  NAVLCL dba All              20,000           12/15/1998         12/15/1999
     Whse                       Canada                   Cities NA
-----------------------------------------------------------------------------------------------------------------------------------
 Customs - ON       CN          Revenue                  North American Van          25,000           12/15/1998         12/15/1999
                                Canada                   Lines Canada Ltd.
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

                                       4
<PAGE>

                                  SAFECO BONDS

<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
  BOND               Principal              Obligee                           Description                 Eff. &         Bond Amount
  NO.                                                                                                     Exp.
                                                                                                          Date
-----------------------------------------------------------------------------------------------------------------------------------
<S>                  <C>                    <C>                               <C>                         <C>            <C>
4788984              A Relocation           Federal Highway Admin-            License &                   1/31/99        $10,000
                     Solutions              Offc of M.C.                      Permit                      - 00
                     Management
                     Company
-----------------------------------------------------------------------------------------------------------------------------------
5894094              A.V.L.                 Federal Hwy Admin-Sec of          Property                    2/15/99        $10,000
                     Transportation         Ins.                              Broker's Surety             - 00
                     , Inc.                                                   Bond Under 49
                                                                              U.S.C.
-----------------------------------------------------------------------------------------------------------------------------------
4684527              Allied Freight         Trans-Pacific American            Freight                     11/17/9        $50,000
                     Forwarding,            Flag Berth Operators              Indemnity Bond              8 - 01
                     Inc.
-----------------------------------------------------------------------------------------------------------------------------------
5083969              Allied Freight         Military Traffic Mgmt             Annual                      4/1/99 -       $189,990
                     Forwarding,            Command-Dept of Army              Performance                 00
                     Inc.                                                     Bond (Supply)
-----------------------------------------------------------------------------------------------------------------------------------
5353481              Allied Freight         Trans-Atlantic American           Freight                     3/4/99 -       $50,000
                     Forwarding,            Flag Liner Operators              Indemnity Bond              00
                     Inc.
-----------------------------------------------------------------------------------------------------------------------------------
5685258              Allied Freight         Federal Maritime                  Non-Vessel                  2/14/99        $75,000
                     Forwarding,            Commission                        Operating                   - 00
                     Inc.                                                     Common Carrier
                                                                              Bond
-----------------------------------------------------------------------------------------------------------------------------------
5894093              Allied Freight         Federal Hwy Admin-Sec of          License &                   2/15/99        $10,000
                     Forwarding,            Insurance                         Permit                      - 00
                     Inc.
-----------------------------------------------------------------------------------------------------------------------------------
5963086              Allied Freight         American President Lines,         Freight                     4/30/99        $125,000
                     Forwarding,            Ltd.                              Indemnity Bond              - 00
                     Inc.
-----------------------------------------------------------------------------------------------------------------------------------
4368750              Allied                 U.S.A. Federal Maritime           Federal                     7/9/99 -       $50,000
                     International          Commission                        Maritime                    00
                     N.A., Inc.                                               Commission
                                                                              Independent
                                                                              Ocean Freight
                                                                              Forwarder's
                                                                              Bond
-----------------------------------------------------------------------------------------------------------------------------------
4383534              Allied                 Federal Highway Admin.-           Broker's Surety             11/3/99        $10,000
                     International          Office of Motor Carriers          Bond Under                  - 00
                     N.A., Inc.                                               Section 211(C)
                                                                              of the Interstate
                                                                              Commerce Act
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

Charee/SafecoBonds

                                       5
<PAGE>

                                                                    SAFECO BONDS

<TABLE>
<CAPTION>
<S>             <C>                  <C>                                 <C>                           <C>              <C>
-----------------------------------------------------------------------------------------------------------------------------------
5685257         Allied               Federal Maritime                    Non-Vessel                    2/14/99          $75,000
                International        Commission                          Operating                     - 00
                N.A., Inc.                                               Common Carrier
                                                                         Bond
-----------------------------------------------------------------------------------------------------------------------------------
5877826         Allied               Federal Maritime                    Ocean Freight                 10/26/9          $40,000
                International        Commission                          Forwarder Bond                9 - 00
                N.A., Inc.
-----------------------------------------------------------------------------------------------------------------------------------
5894072         Allied               GSA Centralized                     Performance                   11/1/99          $75,000
                International        Household Goods Traffic             Bond                          -
                N.A., Inc.           Mgmt Program                                                      9/30/00
-----------------------------------------------------------------------------------------------------------------------------------
5894092         Allied               Federal Hwy Admin-Sec of            License &                     2/15/99          $10,000
                International        Insurance                           Permit                        - 00
                N.A., Inc.
-----------------------------------------------------------------------------------------------------------------------------------
5894073         Allied               GSA Centralized                     Performance                   11/1/99          $20,000
                Relocation           Household Goods Traffic             Bond                          - 00
                Services, Inc.       Mgmt Program
-----------------------------------------------------------------------------------------------------------------------------------
5894079         Allied               GSA Centralized                     Performance                   10/31/9          $20,000
                Relocation           Household Goods Traffic             Bond                          9 - 00
                Services, Inc.       Mgmt Program
-----------------------------------------------------------------------------------------------------------------------------------
5913771         Allied               GSA Centralized                     Performance                   11/1/99          $75,000
                Relocation           Household Goods Traffic             Bond                          - 00
                Services, Inc.       Mgmt Program
-----------------------------------------------------------------------------------------------------------------------------------
892897          Allied Van           Commonwealth of                     License &                     8/11/99          $1,000
                Lines, Inc.          Kentucky, Div of Motor              Permit                        - 00
                                     Carriers
-----------------------------------------------------------------------------------------------------------------------------------
921826          Allied Van           Kentucky Dept. of Vehicle           License &                     6/21/99          $25,000
                Lines, Inc.          Regulations                         Permit                        - 00
-----------------------------------------------------------------------------------------------------------------------------------
2436352         Allied Van           State of California                 License &                     9/1/99 -         $15,000
                Lines, Inc.                                              Permit                        00
-----------------------------------------------------------------------------------------------------------------------------------
2537278         Allied Van           State of Texas                      License &                     5/27/99          $2,500
                Lines, Inc.                                              Permit                        - 02
-----------------------------------------------------------------------------------------------------------------------------------
2585794         Allied Van           Georgia Public Service              Miscellaneous                 12/23/9          $1,000
                Lines, Inc.          Commission                                                        8 - 99
-----------------------------------------------------------------------------------------------------------------------------------
2881637         Allied Van           United States of America            License &                     9/6/99 -         $10,000
                Lines, Inc.                                              Permit                        00
-----------------------------------------------------------------------------------------------------------------------------------
2894033         Allied Van           Trans-Atlantic American             Freight                       8/9/97 -         $50,000
                Lines &              Flag Liner Operators                Indemnity Bond                00
                Allied Int'l
                NA
-----------------------------------------------------------------------------------------------------------------------------------
4160704         Allied Van           State of Wyoming WC                 Financial                     10/28/9          $1,000
                Lines, Inc.          Officer The State Treasury          Guarantee                     9 - 00
-----------------------------------------------------------------------------------------------------------------------------------
5173518         Allied Van           United States of America            Carriers Bond                 8/28/99          $25,000
                Lines, Inc.                                                                            - 00
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

Charee/SafecoBonds

                                       6
<PAGE>

                                  SAFECO BONDS

<TABLE>
<CAPTION>
<S>             <C>                  <C>                                 <C>                           <C>              <C>
-----------------------------------------------------------------------------------------------------------------------------------
5202597         Allied Van           Interstate Commerce                 License &                     11/22/9          $10,000
                Lines, Inc.          Commission                          Permit                        9 - 00
-----------------------------------------------------------------------------------------------------------------------------------
5749785         Allied Van           Military Traffic                    Performance                   1/15/99          $100,000
                Lines, Inc.          Management Command                  Bond                          - 00
-----------------------------------------------------------------------------------------------------------------------------------
5894091         Allied Van           Federal Hwy Admin-Sec of            License &                     2/15/99          $10,000
                Lines, Inc.          Ins.                                Permit                        - 00
-----------------------------------------------------------------------------------------------------------------------------------
5930666         Allied Van           Commonwealth of                     Court &                       4/28/99          $267,671
                Lines, Inc.          Pennsylvania                        Fiduciary                     - 00
-----------------------------------------------------------------------------------------------------------------------------------
5930667         Allied Van           Commonwealth of                     Court &                       4/28/99          $13,206
                Lines, Inc.          Pennsylvania                        Fiduciary                     - 00
-----------------------------------------------------------------------------------------------------------------------------------
5894082         TransGuard           California Dept. of Ins.            License &                     1/30/99          $10,000
                General                                                  Permit                        - 00
                Agency, Inc.
-----------------------------------------------------------------------------------------------------------------------------------
5899897         TransGuard           State of IL Dept. of Ins.           License &                     5/8/99 -         $32,500
                General                                                  Permit                        00
                Agency, Inc.
-----------------------------------------------------------------------------------------------------------------------------------
5963063         TransGuard           New Hampshire Ins. Dept.            License &                     1/25/99          $2,500
                General                                                  Permit                        - 00
                Agency, Inc.
-----------------------------------------------------------------------------------------------------------------------------------
5963064         TransGuard           General Treasurer of                License &                     1/25/99          $5,000
                General              Rhode Island                        Permit                        - 00
                Agency, Inc.
-----------------------------------------------------------------------------------------------------------------------------------
5963065         TransGuard           Arizona Ins. Licensing              License &                     1/25/99          $1,000
                General              Section                             Permit                        - 00
                Agency, Inc.
-----------------------------------------------------------------------------------------------------------------------------------
5963066         TransGuard           Indiana Dept. of Insurance          License &                     1/25/99          $2,500
                General                                                  Permit                        - 00
                Agency, Inc.
-----------------------------------------------------------------------------------------------------------------------------------
5963069         TransGuard           Insurance Administration            License &                     4/30/99          $10,000
                General                                                  Permit                        - 01
                Agency, Inc.
-----------------------------------------------------------------------------------------------------------------------------------
5946258         Trident              Federal Maritime                    Non-Vessel                    5/1/99 -         $75,000
                Transport            Commission                          Operating                     00
                International,                                           Comm Carrier
                Inc.                                                     Bond
-----------------------------------------------------------------------------------------------------------------------------------
2383279         Vanguard Ins.        State of Nevada                     License &                     1/21/98          $5,000
                Agency, Inc.                                             Permit                        - 01
-----------------------------------------------------------------------------------------------------------------------------------
2383281         Vanguard Ins.        General Treasurer of the            License &                     1/21/98          $1,000
                Agency, Inc.         State of Rhode Island               Permit                        - 01
-----------------------------------------------------------------------------------------------------------------------------------
2585804         Vanguard Ins.        State of IL                         License &                     2/28/97          $50,000
                Agency, Inc.                                             Permit                        - 00
-----------------------------------------------------------------------------------------------------------------------------------
2868052         Vanguard Ins.        Pennsylvania Dept. of Ins.          License &                     5/8/99 -         $2,500
                Agency, Inc.                                             Permit                        02
</TABLE>

Charee/SafecoBonds

                                       7
<PAGE>

                                  SAFECO BONDS

<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
<S>             <C>                  <C>                                 <C>                           <C>              <C>
4791951         Vanguard Ins.        New York Dept. of Ins.              License &                     5/21/9 -         $2,500
                Agency, Inc.         Broker Div.                         Permit                        00
-----------------------------------------------------------------------------------------------------------------------------------
5083972         Vanguard Ins.        State of Oklahoma                   License &                     2/5/99 -         $2,500
                Agency, Inc.                                             Permit                        00
-----------------------------------------------------------------------------------------------------------------------------------
5083981         Vanguard Ins.        North Dakota Dept. of Ins.          License &                     2/11/99          $20,000
                Agency, Inc.                                             Permit                        - 00
-----------------------------------------------------------------------------------------------------------------------------------
5257390         Vanguard Ins.        State of Maryland - Ins.            License &                     6/30/99          $10,000
                Agency, Inc.         Div.                                Permit                        - 00
-----------------------------------------------------------------------------------------------------------------------------------
5759494         Vanguard Ins.        Arizona Dept. of Ins.               Non Resident                  5/24/99          $1,000
                Agency, Inc.                                             Ins. Broker                   - 00
-----------------------------------------------------------------------------------------------------------------------------------
5873083         Vanguard Ins.        IL Director of Ins. Broker          License &                     5/8/99 -         $20,000
                Agency, Inc.         Licensing Div.                      Permit                        00
-----------------------------------------------------------------------------------------------------------------------------------
2383275         Vanguard Ins.        People of the State of              License &                     1/24/98          $10,000
                Agency, Inc.         Idaho                               Permit                        - 01
-----------------------------------------------------------------------------------------------------------------------------------
2382853         Vanguard Ins.        State of New Hampshire              License &                     5/9/98 -         $1,000
                Agency, Inc.                                             Permit                        01
-----------------------------------------------------------------------------------------------------------------------------------
2223941         Vanguard Ins.        California Dept. of Ins.            License &                     2/22/99          $10,000
                Agency, Inc.                                             Permit                        - 02
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

Charee/SafecoBonds

                                       8
<PAGE>

                                  SAFECO BONDS

                                                           Attachment 8.3(j)(57)

<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
JURISDICTION               SERVICE        FILE DATE AND NUMBER        SECURED PARTY                       COLLATERAL DESCRIPTION

<S>                        <C>            <C>                         <C>                                 <C>
-----------------------------------------------------------------------------------------------------------------------------------
State of Illinois          UCC            10/08/1992                  Pitney Bowes Credit Corp            Specified Leases
                                          003038407
-----------------------------------------------------------------------------------------------------------------------------------
State of Illinois          UCC            05/14/1993                  Pitney Bowes Credit Corp            Specified Leases
                                          003121627
-----------------------------------------------------------------------------------------------------------------------------------
Cook Illinois              JUD            08/04/1995                  Daniel M. Salata                    $598.00
                                          95M3 2536
-----------------------------------------------------------------------------------------------------------------------------------
Harris Texas               JUD            07/29/1994                  Donald T. Markland                  $5,000.00
                                          9274
-----------------------------------------------------------------------------------------------------------------------------------
Harris Texas               JUD            08/02/1993                  Felicia C. Willis                   There are no proceedings
                                          621619                                                          pending to enforce any
                                                                                                          judgment in connection
                                                                                                          with this case. The
                                                                                                          Borrower will determine
                                                                                                          and report to the
                                                                                                          Administrative Agent the
                                                                                                          status of this case.
-----------------------------------------------------------------------------------------------------------------------------------
Jefferson Texas            JUD            12/20/1996                  Jerry Peveto et al                  Settled
                                          82146
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

Charee/SafecoBonds

<PAGE>

                                  SAFECO BONDS

<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
JURISDICTION               SERVICE        FILE DATE AND NUMBER        SECURED PARTY                       COLLATERAL DESCRIPTION
<S>                        <C>            <C>                         <C>                                 <C>
-----------------------------------------------------------------------------------------------------------------------------------
Dallas Texas               JUD            12/13/1983                  Kathy Keown                         $11.00
                                          02436935
-----------------------------------------------------------------------------------------------------------------------------------
Brazoria Texas             JUD            05/01/1995                  Southwest Sids                      $3,046.00
                                          15284A                      Research Institute
-----------------------------------------------------------------------------------------------------------------------------------
State of Illinois          UCC            09/07/1989                  First Choice Bank                   Specified Leases
                                          002618815
-----------------------------------------------------------------------------------------------------------------------------------
Cook Illinois              STL            02/03/1993                  Internal Revenue Service            $9,237.00
                                          93086377
-----------------------------------------------------------------------------------------------------------------------------------
State of Illinois          STL            02/01/1993                  Internal Revenue Service            $9,237.00
                                          16752
-----------------------------------------------------------------------------------------------------------------------------------
Cook Illinois              JUD            01/28/1993                  American President Lines            $541.00
                                          92M1 183263
-----------------------------------------------------------------------------------------------------------------------------------
State of Illinois          UCC            05/25/1989                  Chrysler Systems Leasing Inc.       Specified Leases
                                          002579304
-----------------------------------------------------------------------------------------------------------------------------------
State of Illinois          UCC            07/28/1989                  Chrysler Systems Leasing Inc.       Specified Leases
                                          002603793
-----------------------------------------------------------------------------------------------------------------------------------
State of Illinois          UCC            09/14/1989                  Chrysler Systems Leasing Inc.       Specified Leases
                                          002621470
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

Charee/SafecoBonds

                                       10
<PAGE>

                                  SAFECO BONDS

<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
JURISDICTION               SERVICE        FILE DATE AND NUMBER        SECURED PARTY                       COLLATERAL DESCRIPTION
-----------------------------------------------------------------------------------------------------------------------------------
<S>                        <C>            <C>                         <C>                                 <C>
State of Illinois          UCC            05/14/1991                  Chrysler Systems Leasing Inc.       Specified Leases, Leased
                                          002850766                                                       Equipment, and Proceeds
-----------------------------------------------------------------------------------------------------------------------------------
State of Illinois          UCC            07/11/1991                  Chrysler Systems Leasing Inc.       Specified Leases, Leased
                                          002871555                                                       Equipment, and Proceeds
-----------------------------------------------------------------------------------------------------------------------------------
State of Illinois          UCC            03/24/1992                  Chrysler Systems Leasing Inc.       Specified Leases, Leased
                                          002964746                                                       Equipment, and Proceeds
-----------------------------------------------------------------------------------------------------------------------------------
State of Illinois          UCC            08/11/1992                  Chrysler Systems Leasing Inc.       Specified Leases, Leased
                                          003018576                                                       Computer Equipment
-----------------------------------------------------------------------------------------------------------------------------------
State of Illinois          UCC            04/23/1998                  Fleet Capital Corp as Agent         Leased Equipment, Leased
                                          003839606                                                       Computer Equipment and
                                                                                                          Proceeds
-----------------------------------------------------------------------------------------------------------------------------------
State of Illinois          UCC            03/07/1984                  General Electric Credit Corp        Specified Leases
                                          001844628
-----------------------------------------------------------------------------------------------------------------------------------
State of Illinois          UCC            03/07/1984                  General Electric Credit Corp        Specified Leases
                                          001844648
-----------------------------------------------------------------------------------------------------------------------------------
State of Illinois          UCC            12/19/1998                  General Electric Credit Corp        Specified Leases, Leased
                                          002512367                                                       Equipment, Specified
                                                                                                          Chattel Paper, Including
                                                                                                          Proceeds
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

Charee/SafecoBonds

                                       11
<PAGE>

                                  SAFECO BONDS

<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
JURISDICTION               SERVICE        FILE DATE AND NUMBER        SECURED PARTY                      COLLATERAL DESCRIPTION
-----------------------------------------------------------------------------------------------------------------------------------
<S>                        <C>            <C>                         <C>                                <C>
State of Illinois          UCC            12/19/1998                  General Electric Credit Corp       Specified Equipment,
                                          002512368                                                      Leased Equipment,
                                                                                                         Vehicles, Including
                                                                                                         Proceeds and Products
-----------------------------------------------------------------------------------------------------------------------------------
State of Illinois          UCC            07/07/1994                  IBM Corp                           Specified Equipment,
                                          00328788                                                       Specified Computer
                                                                                                         Equipment and Proceeds
-----------------------------------------------------------------------------------------------------------------------------------
State of Illinois          UCC            08/10/1990                  Pitney Bowes Credit Group          Specified Leases, Specified
                                          002749733                                                      Equipment and Proceeds
-----------------------------------------------------------------------------------------------------------------------------------
State of Illinois          UCC            01/10/1985                  QRZX Leasing Co Inc., DBA          Specified Leases
                                          001952699                   Great Western Leasing
-----------------------------------------------------------------------------------------------------------------------------------
Du Page Illinois           JUD            04/10/1995                  Peggy J. Wilson                    $15,689.00
                                          95AR 572
-----------------------------------------------------------------------------------------------------------------------------------
Harris Texas               JUD            06/13/1984                  Irving Abrams                      There are no proceedings
                                          J553928                                                        pending to enforce any
                                                                                                         judgment in connection
                                                                                                         with this case. The
                                                                                                         Borrower will determine
                                                                                                         and report to the
                                                                                                         Administrative Agent the
                                                                                                         status of this case.
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

Charee/SafecoBonds

                                       12
<PAGE>

                                  SAFECO BONDS

<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
JURISDICTION               SERVICE        FILE DATE AND NUMBER        SECURED PARTY                       COLLATERAL DESCRIPTION
<S>                        <C>            <C>                         <C>                                 <C>
-----------------------------------------------------------------------------------------------------------------------------------
Harris Texas               JUD            06/01/1998                  Acosta Albert                       $7,883.00
                                          700733
-----------------------------------------------------------------------------------------------------------------------------------
Tarrant Texas              JUD            05/26/1988                  Other Party; Allied Van Lines Inc.  $1,157.00
                                          00346213
-----------------------------------------------------------------------------------------------------------------------------------
Jefferson Texas            JUD            03/17/1995                  Anthony Walters                     Settled
                                          B151307
-----------------------------------------------------------------------------------------------------------------------------------
Harris Texas               JUD            11/10/1995                  Charles D. Morgan                   Settled
                                          56164
-----------------------------------------------------------------------------------------------------------------------------------
Harris Texas               JUD            08/10/1993                  Cotton Moving & Storage Inc.        Settled
                                          9341347334
-----------------------------------------------------------------------------------------------------------------------------------
Harris Texas               JUD            07/15/1993                  CYD D. Dillahunty                   Settled
                                          60913
-----------------------------------------------------------------------------------------------------------------------------------
Harris Texas               JUD            12/21/1995                  Dale Glass MD                       Settled
                                          9561390
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

Charee/SafecoBonds

                                       13
<PAGE>

                                  SAFECO BONDS

<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
JURISDICTION               SERVICE        FILE DATE AND NUMBER        SECURED PARTY                       COLLATERAL DESCRIPTION
<S>                        <C>            <C>                         <C>                                 <C>
-----------------------------------------------------------------------------------------------------------------------------------
Smith Texas                JUD            08/02/1996                  Daniel Bruce Groves                 There are no proceedings
                                          39225                                                           pending to enforce any
                                                                                                          judgment in connection
                                                                                                          with this case. The
                                                                                                          Borrower will determine
                                                                                                          and report to the
                                                                                                          Administrative Agent the
                                                                                                          status of this case.
-----------------------------------------------------------------------------------------------------------------------------------
Bexar Texas                JUD            08/03/1993                  Deborah Jamail                      Judgment Satisfied
                                          210/610
-----------------------------------------------------------------------------------------------------------------------------------
Harris Texas               JUD            01/11/1994                  Gary Allen Jackson                  $5,000.00
                                          940134961
-----------------------------------------------------------------------------------------------------------------------------------
Harris Texas               JUD            07/02/1984                  Other Party; Houston NW             There are no proceedings
                                          J582963                     Aviation Inc.                       pending to enforce any
                                                                                                          judgment in connection
                                                                                                          with this case. The
                                                                                                          Borrower will determine
                                                                                                          and report to the
                                                                                                          Administrative Agent the
                                                                                                          status of this case.
-----------------------------------------------------------------------------------------------------------------------------------
Galveston Texas            JUD            05/30/1997                  Hugh House et al                    $12,400.00
                                          SC6699
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

Charee/SafecoBonds

                                       14
<PAGE>

                                  SAFECO BONDS

<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
JURISDICTION               SERVICE        FILE DATE AND NUMBER        SECURED PARTY                       COLLATERAL DESCRIPTION
<S>                        <C>            <C>                         <C>                                 <C>
-----------------------------------------------------------------------------------------------------------------------------------
McLennan Texas             JUD            11/28/1994                  Lawrence E. Greenwood               Settled
                                          9442073
-----------------------------------------------------------------------------------------------------------------------------------
Harris Texas               JUD            01/12/1996                  Michael D. Rowland et al            Settled
                                          9601741
-----------------------------------------------------------------------------------------------------------------------------------
Galveston Texas            JUD            03/09/1994                  Murray Reynolds                     $10,000.00
                                          94CV0247
-----------------------------------------------------------------------------------------------------------------------------------
Harris Texas               JUD            03/08//1995                 Murray Reynolds                     $10,000.00
                                          951202955
-----------------------------------------------------------------------------------------------------------------------------------
Montgomery Texas           JUD            07/21/1993                  Paul Baraai                         $195,770.00
                                          930702080CV
-----------------------------------------------------------------------------------------------------------------------------------
Dallas Texas               JUD            01/07/1980                  Other Party; Allied Van Lines Inc.  $1,588.20
                                          00052195
-----------------------------------------------------------------------------------------------------------------------------------
Dallas Texas               JUD            08/30/1979                  Other Party; Allied Van Lines Inc.  $1,588.20
                                          01715428
-----------------------------------------------------------------------------------------------------------------------------------
Hidalgo Texas              JUD            12/12/1994                  Scott Breittenwischer               Settled
                                          CL25359D
-----------------------------------------------------------------------------------------------------------------------------------
State of Illinois          UCC            07/18/1989                  AT&T Credit Corp                    Specified Leases
                                          002599620
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

Charee/SafecoBonds

                                       15
<PAGE>

                                  SAFECO BONDS

<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
JURISDICTION               SERVICE        FILE DATE AND NUMBER        SECURED PARTY                       COLLATERAL DESCRIPTION
<S>                        <C>            <C>                         <C>                                 <C>
-----------------------------------------------------------------------------------------------------------------------------------
State of Illinois          UCC            09/01/1989                  AT&T Credit Corp                    Specified Leases
                                          002617239
-----------------------------------------------------------------------------------------------------------------------------------
State of Illinois          UCC            12/04/1989                  AT&T Credit Corp                    Specified Leases
                                          002652035
-----------------------------------------------------------------------------------------------------------------------------------
State of Illinois          UCC            03/20/1989                  Capital Associates International    Specified Leases
                                          002549280                   Inc.
-----------------------------------------------------------------------------------------------------------------------------------
State of Illinois          UCC            04/10/1989                  Chrysler Systems Leasing Inc.       Specified Leases
                                          002558544
-----------------------------------------------------------------------------------------------------------------------------------
State of Illinois          UCC            11/20/1989                  Chrysler Systems Leasing Inc.       Specified Leases
                                          002647161
-----------------------------------------------------------------------------------------------------------------------------------
State of Illinois          UCC            03/24/1992                  Chrysler Systems Leasing Inc.       Specified Leases, Leased
                                          002964745                                                       Equipment and Proceeds
-----------------------------------------------------------------------------------------------------------------------------------
State of Illinois          UCC            03/21/1990                  COM - L 1989-B Corp                 Specified Leases, Leased
                                          002693221                                                       Business
                                                                                                          Machinery/Equipment and
                                                                                                          Proceeds
-----------------------------------------------------------------------------------------------------------------------------------
State of Illinois          UCC            09/20/1989                  Comdisco Inc.                       Specified Leases
                                          002624073                                                       (computer printers)
-----------------------------------------------------------------------------------------------------------------------------------
State of Illinois          UCC            02/07/1989                  Mt. Greenwood Bank                  Specified Leases
                                          002533035
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

Charee/SafecoBonds

                                       16
<PAGE>

                                  SAFECO BONDS

<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
JURISDICTION               SERVICE        FILE DATE AND NUMBER        SECURED PARTY                       COLLATERAL DESCRIPTION
<S>                        <C>            <C>                         <C>                                 <C>
-----------------------------------------------------------------------------------------------------------------------------------
State of Illinois          UCC            06/27/1989                  Mid-States Financial Corp.          Specified Leases, Leased
                                          002591956                                                       Equipment and Proceeds
-----------------------------------------------------------------------------------------------------------------------------------
Dallas Texas               JUD            05/25/1994                  Charlie Nzeakor                     $2,000.00
                                          29400079N
-----------------------------------------------------------------------------------------------------------------------------------
State of Texas             UCC            06/01/1999                  MCI Capital Services                Specified accounts
                                          9900106189                                                      receivable
-----------------------------------------------------------------------------------------------------------------------------------
State of Texas             UCC            10/10/1995                  Home Juice Co.                      Specified Equipment
                                          003455490                                                       (Cafeteria Equipment)
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

UCC = UCC   STL = State Tax Lien   FTL = Federal Tax Lien   JUD = Judgment Lien

Charee/SafecoBonds

                                       17<PAGE>

                                                                    Exhibit 10.4

                                                                  CONFORMED COPY

================================================================================

                       GUARANTEE AND COLLATERAL AGREEMENT

                                     made by

                             NA HOLDING CORPORATION,

                         NORTH AMERICAN VAN LINES, INC.

                         and certain of its Subsidiaries

                                   in favor of

                            THE CHASE MANHATTAN BANK,
                  as Collateral Agent and Administrative Agent

                          Dated as of November 19, 1999

================================================================================

<PAGE>

                       GUARANTEE AND COLLATERAL AGREEMENT

            GUARANTEE AND COLLATERAL AGREEMENT, dated as of November 19, 1999,
made by NORTH AMERICAN VAN LINES, INC., a Delaware corporation (the "Parent
Borrower"), certain foreign subsidiaries of the Parent Borrower from time to
time parties to the Credit Agreement referred to below (the "Foreign Subsidiary
Borrowers"; together with the Parent Borrower, the "Borrowers"), NA HOLDING
CORPORATION, a Delaware corporation ("Holding"), and each of the other
signatories hereto (together with the Borrowers, Holding and any other Domestic
Subsidiary of the Parent Borrower that becomes a party hereto from time to time
after the date hereof, collectively, the "Granting Parties"; individually, a
"Granting Party"), in favor of THE CHASE MANHATTAN BANK, as collateral agent and
administrative agent (in such capacities, the "Administrative Agent") for the
banks and other financial institutions (collectively, the "Lenders";
individually, a "Lender") from time to time parties to the Credit Agreement,
dated as of November 19, 1999 (as amended, waived, supplemented or otherwise
modified from time to time, the "Credit Agreement"), among the Borrowers, the
Lenders, The Bank of New York, as documentation agent, Banc of America
Securities LLC, as syndication agent (in such capacity, the "Syndication
Agent"), and the Administrative Agent.

                              W I T N E S S E T H:

            WHEREAS, pursuant to the Credit Agreement, the Lenders have
severally agreed to make extensions of credit to the Borrowers upon the terms
and subject to the conditions set forth therein;

            WHEREAS, it is a condition to the obligation of the Lenders to make
their respective extensions of credit to the Borrowers under the Credit
Agreement that the Granting Parties shall execute and deliver this Agreement to
the Administrative Agent for the benefit of the Lenders;

            WHEREAS, the proceeds of the extensions of credit under the Credit
Agreement will be used in part to enable the Borrowers to make valuable
transfers to one or more of the other Granting Parties in connection with the
operation of their respective businesses; and

            WHEREAS, the Borrowers and the other Granting Parties are engaged in
related businesses, and each such Granting Party will derive substantial direct
and indirect benefit from the making of the extensions of credit under the
Credit Agreement;

            NOW, THEREFORE, in consideration of the premises and to induce the
Administrative Agent and the Lenders to enter into the Credit Agreement and to
induce the Lenders to make their respective extensions of credit to the
Borrowers thereunder, each Granting Party hereby agrees with the Administrative
Agent, for the ratable benefit of the Secured Parties (as defined below), as
follows:

                            SECTION 1. DEFINED TERMS
<PAGE>
                                                                               2

            1.1 Definitions. (a) Unless otherwise defined herein, terms defined
in the Credit Agreement and used herein shall have the meanings given to them in
the Credit Agreement, and the following terms which are defined in the Code (as
defined below) are used herein as so defined: Certificated Security, Chattel
Paper, Documents, Equipment, Farm Products, Fixtures, General Intangibles,
Instruments and Inventory.

            (b) The following terms shall have the following meanings:

            "Accounts": all accounts (as defined in the Code) of the Grantors,
      including, without limitation, all Accounts (as defined in the Credit
      Agreement) of the Grantors, but in any event excluding all Accounts that
      have been sold or otherwise transferred in connection with a Permitted
      Receivables Securitization.

            "Administrative Agent": as defined in the Preamble hereto.

            "Agreement": this Guarantee and Collateral Agreement, as the same
      may be amended, waived, supplemented or otherwise modified from time to
      time.

            "Borrower Obligations": with respect to any Borrower, the collective
      reference to the unpaid principal of and interest on the Loans and
      Reimbursement Obligations and all other obligations and liabilities of
      such Borrower (including, without limitation, interest accruing at the
      then applicable rate provided in the Credit Agreement after the maturity
      of such Borrower's Loans and Reimbursement Obligations and interest
      accruing at the then applicable rate provided in the Credit Agreement
      after the filing of any petition in bankruptcy, or the commencement of any
      insolvency, reorganization or like proceeding, relating to such Borrower,
      whether or not a claim for post-filing or post-petition interest is
      allowed in such proceeding) to the Administrative Agent or any Lender (or,
      in the case of any Lender Hedge Agreement, any affiliate of any Lender),
      whether direct or indirect, absolute or contingent, due or to become due,
      or now existing or hereafter incurred, which may arise under, out of, or
      in connection with, the Credit Agreement, this Agreement, the other Loan
      Documents, any Letter of Credit, any letter of credit referred to in
      subsection 8.2(k) of the Credit Agreement issued by any Lender or any
      affiliate of any Lender, any Guarantee Obligations of such Borrower or any
      of its Subsidiaries referred to in subsection 8.4(b) of the Credit
      Agreement as to which any Lender or any affiliate thereof is a
      beneficiary, any Lender Hedge Agreement or any other document made,
      delivered or given in connection therewith, in each case whether on
      account of principal, interest, reimbursement obligations, fees,
      indemnities, costs, expenses or otherwise (including, without limitation,
      all fees and disbursements of counsel to the Administrative Agent or to
      the Lenders that are required to be paid by such Borrower pursuant to the
      terms of any of the foregoing agreements).

            "Borrowers": as defined in the Preamble hereto.

            "Code": the Uniform Commercial Code as from time to time in effect
      in the State of New York.

<PAGE>
                                                                               3

            "Collateral": as defined in Section 3.1, subject to the exclusions
      of Section 3.3.

            "Collateral Account Bank": The Chase Manhattan Bank or another bank
      which at all times is a Lender as selected by the relevant Grantor and
      notified to the Administrative Agent in writing promptly following such
      selection.

            "Collateral Proceeds Account": the cash collateral account
      established by the relevant Grantor at an office of the Collateral Account
      Bank in the name of the Administrative Agent.

            "Commitments": the collective reference to: (i) the Revolving Credit
      Commitments, (ii) the obligation of each Tranche A Term Loan Lender and
      each Tranche B Term Loan Lender, respectively, to make a Tranche A Term
      Loan and a Tranche B Term Loan, respectively, to the Parent Borrower
      pursuant to subsection 2.6 of the Credit Agreement, (iii) the Swing Line
      Commitment and (iv) the obligation of the Issuing Lender to issue Letters
      of Credit to any Borrower pursuant to subsection 3.1 of the Credit
      Agreement.

            "Contracts": with respect to any Grantor, the contracts, agreements,
      instruments and indentures listed on Schedule 8, as the same may from time
      to time be amended, waived, supplemented or otherwise modified, including,
      without limitation, (i) all rights of such Grantor to receive moneys due
      and to become due to it thereunder or in connection therewith, (ii) all
      rights of such Grantor to damages arising thereunder and (iii) all rights
      of such Grantor to perform and to exercise all remedies thereunder.

            "Copyright Licenses": with respect to any Grantor, all United States
      written license agreements of such Grantor with any Person who is not an
      Affiliate or a Subsidiary providing for the grant by or to such Grantor of
      any right to use any Copyright of such Grantor, including, without
      limitation, the license agreements listed on Schedule 5 subject, in each
      case, to the terms of such license agreements, and the right to prepare
      for sale, sell and advertise for sale, all Inventory now or hereafter
      covered by such licenses.

            "Copyrights": with respect to any Grantor, all of such Grantor's
      right, title and interest in and to all United States copyrights, whether
      or not the underlying works of authorship have been published or
      registered, United States copyright registrations and copyright
      applications, including, without limitation, the copyright registrations
      listed on Schedule 5, and (a) all renewals thereof, (b) all income,
      royalties, damages and payments now and hereafter due and/or payable with
      respect thereto, including, without limitation, payments under all
      licenses entered into in connection therewith, and damages and payments
      for past, present or future infringements thereof and (c) the right to sue
      or otherwise recover for past, present and future infringements thereof.

            "Credit Agreement": as defined in the Preamble hereto.

            "Foreign Subsidiary Borrowers": as defined in the Preamble hereto.

<PAGE>
                                                                               4

            "General Fund Account": the general fund account of the relevant
      Grantor established at the same office of the Collateral Account Bank as
      the Collateral Proceeds Account.

            "Granting Party" and "Granting Parties": as defined in the Preamble
      hereto.

            "Grantor": the Borrowers and each Subsidiary of the Borrower that,
      from time to time, becomes a party hereto.

            "Guarantor Obligations": with respect to any Guarantor, all
      obligations and liabilities of such Guarantor which may arise under or in
      connection with this Agreement (including, without limitation, Section 2)
      or any other Loan Document to which such Guarantor is a party, in each
      case whether on account of guarantee obligations, reimbursement
      obligations, fees, indemnities, costs, expenses or otherwise (including,
      without limitation, all fees and disbursements of counsel to the
      Administrative Agent, to the Other Representatives or to the Lenders that
      are required to be paid by such Guarantor pursuant to the terms of this
      Agreement or any other Loan Document).

            "Guarantors": the collective reference to each Granting Party other
      than the Foreign Subsidiary Borrowers and any Foreign Subsidiary Holdco.

            "Holding": as defined in the Preamble hereto.

            "Intellectual Property": with respect to any Grantor, the collective
      reference to such Grantor's Copyrights, Copyright Licenses, Patents,
      Patent Licenses, Trade Secrets, Trademarks and Trademark Licenses.

            "Intercompany Note": with respect to any Grantor, any promissory
      note in a principal amount in excess of $1,000,000 evidencing loans made
      by such Grantor to Holding, or any of its Subsidiaries.

            "Investment Property": the collective reference to: (i) all
      "investment property" as such term is defined in Section 9-115 of the
      Uniform Commercial Code in effect in the State of New York on the date
      hereof, and (ii) whether or not constituting "investment property" as so
      defined, all Pledged Securities.

            "IP Collateral": with respect to any Grantor, the collective
      reference to such Grantor's Patents, Patent Licenses, Trademarks,
      Trademark Licenses, General Intangibles connected with the use of or
      symbolized by the Trademarks and Patents and, to the extent not otherwise
      included, all Proceeds and products of any and all of the foregoing and
      all collateral security and guarantees given by any Person with respect to
      any of the foregoing.

            "Issuers": the collective reference to the Persons identified on
      Schedule 2 as the issuers of a Pledged Security.

            "Lender" and "Lenders": as defined in the Preamble hereto.

<PAGE>
                                                                               5

            "Lender Hedge Agreements": as to any Grantor, all interest rate
      swaps, caps or collar agreements or similar arrangements entered into by
      such Person with any Lender (or any affiliate of any Lender) providing for
      protection against fluctuations in interest rates or currency exchange
      rates or the exchange of nominal interest obligations, either generally or
      under specific contingencies, including, without limitation, all Interest
      Rate Protection Agreements and Permitted Hedging Arrangements.

            "Obligations": (i) in the case of each Borrower, its Borrower
      Obligations, and (ii) in the case of each Guarantor, its Guarantor
      Obligations.

            "Parent Borrower": as defined in the Preamble hereto.

            "Patent Licenses": with respect to any Grantor, all United States
      written license agreements of such Grantor with any Person who is not an
      Affiliate or a Subsidiary concerning any of the Patents of such Grantor or
      such other Person's patents, whether such Grantor is a licensor or a
      licensee under any such agreement, including, without limitation, the
      license agreements listed on Schedule 5, subject, in each case, to the
      terms of such license agreements, and the right to prepare for sale, sell
      and advertise for sale, all Inventory now or hereafter covered by such
      licenses.

            "Patents": with respect to any Grantor, all of such Grantor's right,
      title and interest in and to all United States patents, patent
      applications and patentable inventions, including, without limitation, all
      patents and patent applications identified in Schedule 5, and including,
      without limitation, (a) all inventions and improvements described and
      claimed therein, (b) the right to sue or otherwise recover for any and all
      past, present and future infringements thereof, (c) all income, royalties,
      damages and other payments now and hereafter due and/or payable with
      respect thereto (including, without limitation, payments under all
      licenses entered into in connection therewith, and damages and payments
      for past, present or future infringements thereof) and (d) all other
      rights corresponding thereto in the United States and all reissues,
      divisions, continuations, continuations-in-part, substitutes, renewals,
      and extensions thereof, all improvements thereon, and all other rights of
      any kind whatsoever of such Grantor accruing thereunder or pertaining
      thereto.

            "Pledged Collateral": as defined in Section 3.2(b), subject to the
      exclusions of Section 3.3.

            "Pledged Notes": with respect to any Pledgor, (i) all Intercompany
      Notes at any time issued to such Pledgor and (ii) each other promissory
      note in a principal amount in excess of $1,000,000 issued to or held by
      such Pledgor (other than, in the case of this clause (ii), promissory
      notes issued in connection with extensions of trade credit by any Pledgor
      in the ordinary course of business) including, without limitation, all
      such notes listed on Schedule 2.

<PAGE>
                                                                               6

            "Pledged Securities": the collective reference to the Pledged Notes
      and the Pledged Stock.

            "Pledged Stock": with respect to any Pledgor, the shares of Capital
      Stock listed on Schedule 2 as held by such Pledgor, provided that in no
      event shall there be pledged, nor shall any Pledgor be required to pledge,
      directly or indirectly, (x) any Capital Stock of any Subsidiary other than
      a Material Subsidiary or (y) more than 65% of any series of the
      outstanding Capital Stock of any Foreign Subsidiary or Foreign Subsidiary
      Holdco pursuant to this Agreement.

            "Pledgor": Holding (with respect to Pledged Stock of the Parent
      Borrower), the Parent Borrower (with respect to Pledged Stock of each
      Material Subsidiary that is a Domestic Subsidiary, each Foreign Subsidiary
      Borrower and each Foreign Subsidiary Holdco and any other Pledged
      Securities held by the Parent Borrower) and any other Granting Party (with
      respect to Pledged Securities held by such Granting Party).

            "Premium Fund Trust Account ": a fiduciary account maintained by an
      insurance agency into which premium moneys held for the benefit of others
      related to insurance policies maintained in the ordinary course of
      business of the policy holder are deposited.

            "Proceeds": all "proceeds" as such term is defined in Section
      9-306(1) of the Uniform Commercial Code in effect in the State of New York
      on the date hereof and, in any event, Proceeds of Pledged Securities shall
      include, without limitation, all dividends or other income from the
      Pledged Securities, collections thereon or distributions or payments with
      respect thereto.

            "Receivable": any right to payment for goods sold or leased or for
      services rendered, whether or not such right is evidenced by an Instrument
      or Chattel Paper and whether or not it has been earned by performance,
      including, without limitation, any Account.

            "Secured Parties": the collective reference to (a) the
      Administrative Agent, (b) the Syndication Agent, (c) the Lenders
      (including, without limitation, the Issuing Lender and the Swing Line
      Lender), (d) each Lender or any affiliate of such Lender which has entered
      into any Lender Hedge Agreement with any of the Borrowers or any of their
      Subsidiaries, issued any letter of credit referred to in subsection 8.2(k)
      of the Credit Agreement, or is the beneficiary of any Guarantee Obligation
      referred to in subsection 8.4(b) of the Credit Agreement and (e) the
      successors and assigns of any of the foregoing.

            "Security Collateral": as defined in Section 3.2, subject to the
      exclusions of Section 3.3.

            "Subsidiary Guarantor": each Material Subsidiary of the Parent
      Borrower other than any Insurance Subsidiary, MSS, any Foreign Subsidiary
      and any Foreign Subsidiary Holdco.

<PAGE>
                                                                               7

            "Syndication Agent": as defined in the Preamble hereto.

            "Trademark Licenses": with respect to any Grantor, all United States
      written license agreements of such Grantor with any Person who is not an
      Affiliate or a Subsidiary concerning any of the Trademarks of such Grantor
      or such other Person's names or trademarks, whether such Grantor is a
      licensor or a licensee under any such agreement, including, without
      limitation, the license agreements listed on Schedule 5, subject, in each
      case, to the terms of such license agreements, and the right to prepare
      for sale, sell and advertise for sale, all Inventory now or hereafter
      covered by such licenses.

            "Trademarks": with respect to any Grantor, all of such Grantor's
      right, title and interest in and to all United States trademarks, service
      marks, trade names, trade dress or other indicia of trade origin or
      business identifiers, trademark and service mark registrations, and
      applications for trademark or service mark registrations (except for
      "intent to use" applications for trademark or service mark registrations
      filed pursuant to Section 1(b) of the Lanham Act, 15 U.S.C. Section 1051,
      unless and until an Amendment to Allege Use or a Statement of Use under
      Sections 1(c) and 1(d) of said Act has been filed), and any renewals
      thereof, including, without limitation, each registration and application
      identified in Schedule 5, and including, without limitation, (a) the right
      to sue or otherwise recover for any and all past, present and future
      infringements or dilutions thereof, (b) all income, royalties, damages and
      other payments now and hereafter due and/or payable with respect thereto
      (including, without limitation, payments under all licenses entered into
      in connection therewith, and damages and payments for past, present or
      future infringements thereof) and (c) all other rights corresponding
      thereto and all other rights of any kind whatsoever of such Grantor
      accruing thereunder or pertaining thereto, together in each case with the
      goodwill of the business connected with the use of, and symbolized by,
      each such trademark, service mark, trade name, trade dress or other
      indicia of trade origin or business identifiers.

            "Trade Secrets": with respect to any Grantor, all of such Grantor's
      right, title and interest in and to all United States trade secrets,
      including, without limitation, know-how, processes, formulae,
      compositions, designs, and confidential business and technical
      information, and all rights of any kind whatsoever accruing thereunder or
      pertaining thereto, including, without limitation, (a) all income,
      royalties, damages and payments now and hereafter due and/or payable with
      respect thereto, including, without limitation, payments under all
      licenses, non-disclosure agreements and memoranda of understanding entered
      into in connection therewith, and damages and payments for past, present
      or future misappropriations thereof and (b) the right to sue or otherwise
      recover for past, present or future misappropriations thereof.

            "Vehicles": all cars, trucks, trailers, construction and earth
      moving equipment and other vehicles covered by a certificate of title law
      of Indiana or Illinois and all tires and other appurtenances to any of the
      foregoing.

            1.2 Other Definitional Provisions. (a) The words "hereof", "herein",
"hereto" and "hereunder" and words of similar import when used in this Agreement
shall refer to this

<PAGE>
                                                                               8

Agreement as a whole and not to any particular provision of this Agreement, and
Section, Schedule and Annex references are to this Agreement unless otherwise
specified.

            (b The meanings given to terms defined herein shall be equally
applicable to both the singular and plural forms of such terms.

            (c Where the context requires, terms relating to the Collateral,
Pledged Collateral or Security Collateral, or any part thereof, when used in
relation to a Granting Party shall refer to such Granting Party's Collateral,
Pledged Collateral or Security Collateral or the relevant part thereof.

            (d All references in this Agreement to any of the property described
in the definition of the term "Collateral" or "Pledged Collateral", or to any
Proceeds thereof, shall be deemed to be references thereto only to the extent
the same constitute Collateral or Pledged Collateral, respectively.

                              SECTION 2. GUARANTEE

            2.1 Guarantee. (a) Each of the Guarantors hereby, jointly and
severally, unconditionally and irrevocably, guarantees to the Administrative
Agent, for the ratable benefit of the Secured Parties and their respective
successors, indorsees, transferees and assigns, the prompt and complete payment
and performance by each Borrower when due and payable (whether at the stated
maturity, by acceleration or otherwise) of the Borrower Obligation of such
Borrower.

            (b Anything herein or in any other Loan Document to the contrary
notwithstanding, the maximum liability of each Guarantor hereunder and under the
other Loan Documents shall in no event exceed the amount which can be guaranteed
by such Guarantor under applicable law, including applicable federal and state
laws relating to the insolvency of debtors (after giving effect to the right of
contribution established in Section 2.2).

            (c Each Guarantor agrees that the total amount of Borrower
Obligations may at any time and from time to time exceed the amount of the
liability of such Guarantor hereunder without impairing the guarantee contained
in this Section 2 or affecting the rights and remedies of the Administrative
Agent or any other Secured Party hereunder.

            (d The guarantee contained in this Section 2 shall remain in full
force and effect until the earlier to occur of (i) the first date on which all
the Loans, any Reimbursement Obligations, all other Borrower Obligations then
due and owing, and the obligations of each Guarantor under the guarantee
contained in this Section 2 then due and owing shall have been satisfied by
payment in full in cash, no Letter of Credit shall be outstanding and the
Commitments shall be terminated, notwithstanding that from time to time during
the term of the Credit Agreement any of the Borrowers may be free from any
Borrower Obligations or (ii) as to any Guarantor, the sale or other disposition
of all of the Capital Stock of such Guarantor permitted under the Credit
Agreement.

<PAGE>
                                                                               9

            (e No payment made by any of the Borrowers, any of the Guarantors,
any other guarantor or any other Person or received or collected by the
Administrative Agent or any other Secured Party from any of the Borrowers, any
of the Guarantors, any other guarantor or any other Person by virtue of any
action or proceeding or any set-off or appropriation or application at any time
or from time to time in reduction of or in payment of any of the Borrower
Obligations shall be deemed to modify, reduce, release or otherwise affect the
liability of any Guarantor hereunder which shall, notwithstanding any such
payment (other than any payment made by such Guarantor in respect of any of the
Borrower Obligations or any payment received or collected from such Guarantor in
respect of any of the Borrower Obligations), remain liable for each of the
Borrower Obligations up to the maximum liability of such Guarantor hereunder
until the earlier to occur of (i) the first date on which all the Loans, any
Reimbursement Obligations, and all other Borrower Obligations then due and owing
are paid in full in cash, no Letter of Credit shall be outstanding and the
Commitments are terminated or (ii) the sale or other disposition of all of the
Capital Stock of such Guarantor permitted under the Credit Agreement.

            2.2 Right of Contribution. Each Subsidiary Guarantor hereby agrees
that to the extent that a Subsidiary Guarantor shall have paid more than its
proportionate share of any payment made hereunder, such Subsidiary Guarantor
shall be entitled to seek and receive contribution from and against any other
Subsidiary Guarantor hereunder which has not paid its proportionate share of
such payment. Each Subsidiary Guarantor's right of contribution shall be subject
to the terms and conditions of Section 2.3. The provisions of this Section 2.2
shall in no respect limit the obligations and liabilities of any Subsidiary
Guarantor to the Administrative Agent and the other Secured Parties, and each
Subsidiary Guarantor shall remain liable to the Administrative Agent and the
other Secured Parties for the full amount guaranteed by such Subsidiary
Guarantor hereunder.

            2.3 No Subrogation. Notwithstanding any payment made by any
Guarantor hereunder or any set-off or application of funds of any Guarantor by
the Administrative Agent or any other Secured Party, no Guarantor shall be
entitled to be subrogated to any of the rights of the Administrative Agent or
any other Secured Party against any of the Borrowers or any other Guarantor or
any collateral security or guarantee or right of offset held by the
Administrative Agent or any other Secured Party for the payment of any of the
Borrower Obligations, nor shall any Guarantor seek or be entitled to seek any
contribution or reimbursement from any of the Borrowers or any other Guarantor
in respect of payments made by such Guarantor hereunder, until all amounts owing
to the Administrative Agent and the other Secured Parties by each of the
Borrowers on account of its Borrower Obligations are paid in full in cash, no
Letter of Credit shall be outstanding and the Commitments are terminated. If any
amount shall be paid to any Guarantor on account of such subrogation rights at
any time when all of the Borrower Obligations shall not have been paid in full
in cash, such amount shall be held by such Guarantor in trust for the
Administrative Agent and the other Secured Parties, segregated from other funds
of such Guarantor, and shall, forthwith upon receipt by such Guarantor, be
turned over to the Administrative Agent in the exact form received by such
Guarantor (duly indorsed by such Guarantor to the Administrative Agent, if
required), to be held as collateral security for all of the Borrower Obligations
(whether matured or unmatured) guaranteed by such Guarantor and/or then or at
any time thereafter may be applied against any Borrower Obligations, whether
matured or unmatured, in such order as the Administrative Agent may determine.

<PAGE>
                                                                              10

            2.4 Amendments, etc. with respect to the Borrower Obligations. To
the maximum extent permitted by applicable law, each Guarantor shall remain
obligated hereunder notwithstanding that, without any reservation of rights
against any Guarantor and without notice to or further assent by any Guarantor,
any demand for payment of any of the Borrower Obligations made by the
Administrative Agent or any other Secured Party may be rescinded by the
Administrative Agent or such other Secured Party and any of the Borrower
Obligations continued, and any of the Borrower Obligations, or the liability of
any other Person upon or for any part thereof, or any collateral security or
guarantee therefor or right of offset with respect thereto, may, from time to
time, in whole or in part, be renewed, extended, amended, modified, accelerated,
compromised, waived, surrendered or released by the Administrative Agent or any
other Secured Party, and the Credit Agreement and the other Loan Documents and
any other documents executed and delivered in connection therewith may be
amended, waived, modified, supplemented or terminated, in whole or in part, as
the Administrative Agent (or the Required Lenders and/or such other requisite
percentage of the Lenders as is required pursuant to subsection 11.1 of the
Credit Agreement, as the case may be) may deem advisable from time to time, and
any collateral security, guarantee or right of offset at any time held by the
Administrative Agent or any other Secured Party for the payment of any of the
Borrower Obligations may be sold, exchanged, waived, surrendered or released.
Neither the Administrative Agent nor any other Secured Party shall have any
obligation to protect, secure, perfect or insure any Lien at any time held by it
as security for any of the Borrower Obligations or for the guarantee contained
in this Section 2 or any property subject thereto, except to the extent required
by applicable law.

            2.5 Guarantee Absolute and Unconditional. Each Guarantor waives, to
the maximum extent permitted by applicable law, any and all notice of the
creation, renewal, extension or accrual of any of the Borrower Obligations and
notice of or proof of reliance by the Administrative Agent or any other Secured
Party upon the guarantee contained in this Section 2 or acceptance of the
guarantee contained in this Section 2; each of the Borrower Obligations, and any
obligation contained therein, shall conclusively be deemed to have been created,
contracted or incurred, or renewed, extended, amended or waived, in reliance
upon the guarantee contained in this Section 2; and all dealings between any of
the Borrowers and any of the Guarantors, on the one hand, and the Administrative
Agent and the other Secured Parties, on the other hand, likewise shall be
conclusively presumed to have been had or consummated in reliance upon the
guarantee contained in this Section 2. Each Guarantor waives, to the maximum
extent permitted by applicable law, diligence, presentment, protest, demand for
payment and notice of default or nonpayment to or upon any of the Borrowers or
any of the other Guarantors with respect to any of the Borrower Obligations.
Each Guarantor understands and agrees, to the extent permitted by applicable
law, that the guarantee contained in this Section 2 shall be construed as a
continuing, absolute and unconditional guarantee of payment. Each Guarantor
hereby waives, to the maximum extent permitted by applicable law, any and all
defenses that it may have arising out of or in connection with any and all of
the following: (a) the validity or enforceability of the Credit Agreement or any
other Loan Document, any of the Borrower Obligations or any other collateral
security therefor or guarantee or right of offset with respect thereto at any
time or from time to time held by the Administrative Agent or any other Secured
Party, (b) any defense, set-off or counterclaim (other than a defense of payment
or performance) which may at any time be

<PAGE>
                                                                              11

available to or be asserted by any of the Borrowers against the Administrative
Agent or any other Secured Party, (c) any change in the time, place, manner or
place of payment, amendment, or waiver or increase in any of the Obligations,
(d) any exchange, taking, or release of Collateral, (e) any change in the
corporate structure or existence of any of the Borrowers, (f) any application of
Collateral to any of the Obligations in accordance with the terms of this
Agreement or (g) any other circumstance whatsoever, other than indefeasible
payment in full in cash of all Borrower Obligations, which (with or without
notice to or knowledge of any of the Borrowers or such Guarantor) constitutes,
or might be construed to constitute, an equitable or legal discharge of any of
the Borrowers for its Borrower Obligations, or of such Guarantor under the
guarantee contained in this Section 2, in bankruptcy or in any other instance.
When making any demand hereunder or otherwise pursuing its rights and remedies
hereunder against any Guarantor, the Administrative Agent or any other Secured
Party may, but shall be under no obligation to, make a similar demand on or
otherwise pursue such rights and remedies as it may have against any of the
Borrowers, any other Guarantor or any other Person or against any collateral
security or guarantee for any of the Borrower Obligations or any right of offset
with respect thereto, and any failure by the Administrative Agent or any other
Secured Party to make any such demand, to pursue such other rights or remedies
or to collect any payments from any of the Borrowers, any other Guarantor or any
other Person or to realize upon any such collateral security or guarantee or to
exercise any such right of offset, or any release of any of the Borrowers, any
other Guarantor or any other Person or any such collateral security, guarantee
or right of offset, shall not relieve any Guarantor of any obligation or
liability hereunder, and shall not impair or affect the rights and remedies,
whether express, implied or available as a matter of law, of the Administrative
Agent or any other Secured Party against any Guarantor. For the purposes hereof
"demand" shall include the commencement and continuance of any legal
proceedings.

            2.6 Reinstatement. The guarantee contained in this Section 2 shall
continue to be effective, or be reinstated, as the case may be, if at any time
payment, or any part thereof, of any of the Borrower Obligations is rescinded or
must otherwise be restored or returned by the Administrative Agent or any other
Secured Party upon the insolvency, bankruptcy, dissolution, liquidation or
reorganization of any Borrower or any Guarantor, or upon or as a result of the
appointment of a receiver, intervenor or conservator of, or trustee or similar
officer for, any Borrower or any Guarantor or any substantial part of its
property, or otherwise, all as though such payments had not been made.

            2.7 Payments. Each Guarantor hereby guarantees that payments
hereunder will be paid to the Administrative Agent without set-off or
counterclaim in Dollars at the office of the Administrative Agent located at 270
Park Avenue, New York, New York 10017 or such other address of the
Administrative Agent as may be designated to the Parent Borrower and such
Guarantor from time to time in accordance with subsection 11.2 of the Credit
Agreement.

                      SECTION 3. GRANT OF SECURITY INTEREST

            3.1 Collateral. Subject to Section 3.3, each Granting Party that is
a Grantor hereby grants to the Administrative Agent, for the ratable benefit of
the Secured Parties, a security interest in all of the following property (or
their equivalent in the applicable foreign country, in the case of Foreign
Subsidiary Borrowers) now owned or at any time hereafter

<PAGE>
                                                                              12

acquired by such Grantor or in which such Grantor now has or at any time in the
future may acquire any right, title or interest (collectively, the
"Collateral"), as collateral security for the prompt and complete payment and
performance when due (whether at the stated maturity, by acceleration or
otherwise) of the Obligations of such Grantor:

            (a  all Accounts;

            (b  all Chattel Paper;

            (c  all Contracts;

            (d  all Documents;

            (e  all Equipment;

            (f  all General Intangibles;

            (g  all Instruments;

            (h  all Intellectual Property;

            (i  all Inventory;

            (j  all Vehicles;

            (k  the Collateral Proceeds Account;

            (l from and after the date a security interest therein may be
      perfected by the filing of financing statements under the Uniform
      Commercial Code, commercial tort claims;

            (m  all books and records pertaining to any of the foregoing; and

            (n  to the extent not otherwise included, all Proceeds and products
      of any and all of the foregoing and all collateral security and guarantees
      given by any Person with respect to any of the foregoing;

provided that, in the case of each Grantor, Collateral shall not include any
Pledged Collateral, or any property or assets specifically excluded from Pledged
Collateral (including any Capital Stock of any Foreign Subsidiary or Foreign
Subsidiary Holdco in excess of 65% of any series of such stock); and provided,
further, that, for the avoidance of doubt, the security interest granted herein
by any Grantor that is a Foreign Subsidiary Borrower shall not secure any
Obligations other than the Obligations of such Foreign Subsidiary Borrower.

            3.2 Pledged Collateral. (a) Subject to Section 3.3, each Granting
Party that is a Pledgor hereby grants to the Administrative Agent, for the
ratable benefit of the Secured Parties, a security interest in all of the
Pledged Securities and other Investment Property now owned or at

<PAGE>
                                                                              13

any time hereafter acquired by such Pledgor, and any Proceeds thereof, as
collateral security for the prompt and complete performance when due (whether at
the stated maturity, by acceleration or otherwise) of the Obligations of such
Pledgor; (the Collateral (if any) and the Pledged Collateral (if any) of any
Granting Party being collectively referred to herein as such Granting Party's
"Security Collateral"); provided that Pledged Collateral shall not include any
Capital Stock of any Foreign Subsidiary or Foreign Subsidiary Holdco in excess
of 65% of any series of such stock to the extent that any Obligations are
secured by such security interest (except as provided in paragraph (b)), but
shall include Investment Property in the nature of Capital Stock of a Domestic
Subsidiary that is not a Material Subsidiary.

            (b Each Granting Party that is a Pledgor and is a Foreign Subsidiary
Borrower hereby grants to the Administrative Agent, for the ratable benefit of
the Secured Parties, a security interest in 100% of the Capital Stock of each
Material Subsidiary now owned or at any time hereafter acquired by such Pledgor,
and any Proceeds thereof (together with the Pledged Securities and Investment
Property and Proceeds thereof referred to in subsection 3.2(a), the "Pledged
Collateral"), as collateral security for the prompt and complete performance
when due (whether at the stated maturity, by acceleration or otherwise) of the
Borrower Obligations of such Foreign Subsidiary Borrower; provided that, for the
avoidance of doubt, the security interest granted herein by any Pledgor that is
a Foreign Subsidiary Borrower shall not secure any Obligations other than the
Obligations of such Foreign Subsidiary Borrower.

            3.3 Certain Exceptions. No security interest is or will be granted
pursuant hereto in (and the terms Collateral, Pledged Collateral and Security
Collateral shall not include) the right, title and interest of any Granting
Party under or in:

            (a any Instruments, Contracts, Chattel Paper, General Intangibles,
      Investment Property, Copyright Licenses, Patent Licenses, Trademark
      Licenses or other contracts or agreements with or issued by Persons other
      than a Subsidiary of Holding (collectively, "Excluded Agreements") that
      would otherwise be included in the Security Collateral (and such Excluded
      Agreements shall not be deemed to constitute a part of the Security
      Collateral) for so long as, and to the extent that, the granting of such a
      security interest pursuant hereto would result in a breach, default or
      termination of such Excluded Agreements;

            (b any Equipment that would otherwise be included in the Security
      Collateral (and such Equipment shall not be deemed to constitute a part of
      the Security Collateral) if such Equipment is subject to a Lien permitted
      by subsection 8.3(h) or (o) of the Credit Agreement;

            (c any property that would otherwise be included in Security
      Collateral that has been sold or otherwise transferred in a Permitted
      Receivables Securitization or that is subject to any Lien permitted under
      subsection 8.3(m) of the Credit Agreement or constitutes the Proceeds or
      products of any property that has been so sold or otherwise transferred;
      or

            (d any amounts that may be maintained in a Premium Fund Trust
      Account.

<PAGE>
                                                                              14

                    SECTION 4. REPRESENTATIONS AND WARRANTIES

            4.1 Representations and Warranties of Each Guarantor. To induce the
Administrative Agent and the Lenders to enter into the Credit Agreement and to
induce the Lenders to make their respective extensions of credit to the
Borrowers thereunder, each Guarantor hereby represents and warrants to the
Administrative Agent and each other Secured Party that the representations and
warranties set forth in Section 5 of the Credit Agreement as they relate to such
Guarantor or to the Loan Documents to which such Guarantor is a party, each of
which representations and warranties is hereby incorporated herein by reference,
are true and correct in all material respects, and the Administrative Agent and
each other Secured Party shall be entitled to rely on each of such
representations and warranties as if fully set forth herein; provided that each
reference in each such representation and warranty to the Parent Borrower's
knowledge shall, for the purposes of this Section 4.1, be deemed to be a
reference to such Guarantor's knowledge.

            4.2 Representations and Warranties of Each Grantor. To induce the
Administrative Agent and the Lenders to enter into the Credit Agreement and to
induce the Lenders to make their respective extensions of credit to the
Borrowers thereunder, each Grantor hereby represents and warrants to the
Administrative Agent and each other Secured Party that:

            4.2.1 Title; No Other Liens. Except for the security interests
granted to the Administrative Agent, for the ratable benefit of the Secured
Parties, pursuant to this Agreement and the other Liens permitted to exist on
such Grantor's Collateral by the Credit Agreement (including without limitation
subsection 8.3 thereof), such Grantor owns each material item of such Grantor's
Collateral free and clear of any and all Liens. Except as set forth on Schedule
6, no financing statement or other similar public notice with respect to all or
any part of such Grantor's Collateral is on file or of record in any public
office, except such as have been filed in favor of the Administrative Agent, for
the ratable benefit of the Secured Parties, pursuant to this Agreement or as are
permitted by the Credit Agreement (including without limitation subsection 8.3
thereof) or any other Loan Document or for which termination statements will be
delivered on the Effective Date.

            4.2.2 Perfected First Priority Liens. (i) This Agreement is
effective to create, as collateral security for the Obligations of such Grantor,
valid and enforceable Liens on such Grantor's Collateral in favor of the
Administrative Agent, for the benefit of the Secured Parties, except as
enforceability may be affected by bankruptcy, insolvency, fraudulent conveyance,
reorganization, moratorium and other similar laws relating to or affecting
creditor's rights generally, general equitable principles (whether considered in
a proceeding in equity or at law) and an implied covenant of good faith and fair
dealing.

            (ii) Except with regard to Liens (if any) on Specified Assets, upon
the completion of the Filings, and the delivery to and continuing possession by
the Administrative Agent of all Instruments, Chattel Paper and Documents, a
security interest in which is perfected by possession, the Liens created
pursuant to this Agreement will constitute valid Liens on and (to the extent

<PAGE>
                                                                              15

provided herein) perfected security interests in such Grantor's Collateral in
favor of the Administrative Agent for the benefit of the Secured Parties, and
will be prior to all other Liens of all other Persons other than Permitted
Liens, and which Liens are enforceable as such as against all other Persons
other than Ordinary Course Buyers, except to the extent that (a) the recording
of applicable documents in the United States Patent and Trademark Office or the
United States Copyright Office may be necessary for perfection or
enforceability, (b) the certificate of title for any Vehicle has not been
retitled with the motor vehicle department of the state in which such Vehicle is
titled to notate the Lien thereon in favor of the Administrative Agent and (c)
enforceability may be limited by applicable bankruptcy, insolvency,
reorganization, moratorium or similar laws affecting the enforcement of
creditors' rights generally and by general equitable principles (whether
enforcement is sought by proceedings in equity or at law) or by an implied
covenant of good faith and fair dealing. As used in this Section 4.2.2(ii), the
following terms shall have the following meanings:

            "Filings": the filing or recording of the Financing Statements, the
      Mortgages, and this Agreement as set forth in subsection 5.14 of the
      Credit Agreement, and any filings after the Effective Date in any other
      jurisdiction as may be necessary under any Requirement of Law.

            "Financing Statements": the financing statements delivered to the
      Administrative Agent by each Grantor on the Effective Date for filing in
      the jurisdictions listed on Schedule 5.14 to the Credit Agreement (which
      Financing Statements are in proper form for filing in such jurisdictions).

            "Ordinary Course Buyers": with respect to goods only, buyers in the
      ordinary course of business to the extent provided in Section 9-307(1) of
      the Uniform Commercial Code as in effect from time to time in the
      applicable jurisdiction.

            "Permitted Liens": Liens permitted pursuant to the Loan Documents,
      including without limitation, those permitted to exist pursuant to
      subsection 8.3 of the Credit Agreement.

            "Specified Assets": the following property and assets of each
      Grantor:

            (1) Equipment constituting Fixtures;

            (2) Patents, Patent Licenses, Trademarks and Trademark Licenses to
      the extent that (a) Liens thereon cannot be perfected by the filing of
      financing statements under the Uniform Commercial Code or by the filing
      and acceptance thereof in the United States Patent and Trademark Office or
      (b) such Patents, Patent Licenses, Trademarks and Trademark Licenses are
      not, individually or in the aggregate, material to the business of the
      Parent Borrower and its Subsidiaries taken as a whole;

            (3) Copyrights and Copyright Licenses and Accounts or Receivables
      arising therefrom only to the extent that the Uniform Commercial Code as
      in effect from time to

<PAGE>
                                                                              16

      time in the relevant jurisdiction is not applicable to the creation or
      perfection of Liens thereon;

            (4) uncertificated securities;

            (5) Collateral for which the perfection of Liens thereon requires
      filings in or other actions under the laws of jurisdictions outside of the
      United States of America, any State, territory or dependency thereof or
      the District of Columbia;

            (6) Contracts, Accounts or Receivables on which the United States of
      America or any department, agency or instrumentality thereof is the
      Obligor, and property or assets subject to any rights reserved in favor of
      the United States government as required under law;

            (7) goods included in Collateral received by any Person for "sale or
      return" within the meaning of Section 2-326 of the Uniform Commercial Code
      of the applicable jurisdiction, to the extent of claims of creditors of
      such Person;

            (8) Proceeds of Accounts, Receivables or Inventory until transferred
      to or deposited in the Collateral Proceeds Account; and

            (9) Equipment at various sales offices with a fair market value of
      less than $10,000 per sales office and mobile goods.

            4.2.3 Chief Executive Office. On the date hereof, such Grantor's
jurisdiction of organization and the location of such Grantor's chief executive
office or sole place of business are specified on Schedule 3.

            4.2.4 Inventory and Equipment. On the date hereof, such Grantor's
Inventory and Equipment (other than equipment at various sales offices with a
fair market value of less than $10,000 per sales office and mobile goods) are
kept at the locations listed on Schedule 4.

            4.2.5 Farm Products. None of such Grantor's Collateral constitutes,
or is the Proceeds of, Farm Products.

            4.2.6 Receivables. (i) The amounts represented by such Grantor to
the Administrative Agent or the other Secured Parties from time to time as owing
by each account debtor or by all account debtors in respect of such Grantor's
Receivables constituting Security Collateral will at such time be the correct
amount, in all material respects, actually owing by such account debtor or
debtors thereunder, except to the extent that appropriate reserves therefor have
been established on the books of such Grantor in accordance with GAAP.

            (ii) The places where such Grantor keeps its records concerning such
Grantor's Receivables constituting Security Collateral are listed on Schedule 7
or such other location or locations of which such Grantor shall have provided
prior written notice to the Administrative Agent pursuant to Section 5.2.5
hereof.

<PAGE>
                                                                              17

            (iii) Unless otherwise indicated in writing to the Administrative
Agent, each Receivable constituting Security Collateral of such Grantor arises
out of a bona fide sale and delivery of goods or rendition of services by such
Grantor.

            (iv) Such Grantor has not given any account debtor any deduction in
respect of the amount due under any such Account, except in the ordinary course
of business or as such Grantor may otherwise advise the Administrative Agent in
writing.

            4.2.7 Intellectual Property. Schedule 5 lists all material United
States patents, patent applications, trademark registrations, trademark
applications, copyright registrations and copyright applications owned by such
Grantor in its own name as of the date hereof and all material Trademark
Licenses, Patent Licenses and Copyright Licenses to which such Grantor is a
party on the date hereof. Except as set forth on Schedule 5, on the date hereof:

            (i) each patent, patent application, trademark registration,
trademark application, copyright registration and copyright application of such
Grantor set forth on Schedule 5 is subsisting, has not been adjudged invalid,
unregisterable or unpatentable, as the case may be, or unenforceable in any
respect that would reasonably be expected to have a Material Adverse Effect and
to the best of such Grantor's knowledge, is valid, registerable or patentable,
as the case may be, and enforceable; and

            (ii) no claim has been made and is continuing or, to the knowledge
of such Grantor, threatened that the use by such Grantor of any item of IP
Collateral is invalid or unenforceable or that the use by such Grantor of any IP
Collateral does or may violate the rights of any Person, which would have a
Material Adverse Effect. To such Grantor's knowledge, there is currently no
infringement or unauthorized use of any item of IP Collateral contained on
Schedule 5 hereto which would have a Material Adverse Effect.

            4.2.8 Contracts. (i) No consent of any party (other than such
Grantor) to any of such Grantor's Contracts is required, or purports to be
required, in connection with the execution, delivery and performance of this
Agreement.

            (ii) Each of such Grantor's Contracts is in full force and effect
and constitutes a valid and legally enforceable obligation of such Grantor and,
to such Grantor's knowledge, each of the other parties thereto, subject to the
effects of bankruptcy, insolvency, fraudulent conveyance, reorganization,
moratorium and other similar laws relating to or affecting creditors' rights
generally, general equitable principles (whether considered in a proceeding in
equity or at law) and an implied covenant of good faith and fair dealing.

            (iii) No consent or authorization of, filing with or other act by or
in respect of any Governmental Authority is required in connection with the
execution, delivery, performance, validity or enforceability of any of such
Grantor's Contracts by such Grantor or, to such Grantor's knowledge, any other
party thereto, other than those which have been duly obtained, made or
performed, or where the failure to have obtained such consent or authorization
or to make such filing or take such action, would not reasonably be expected to
result in a Material Adverse Effect.

<PAGE>
                                                                              18

            (iv) Neither such Grantor nor (to the best of such Grantor's
knowledge) any of the other parties to such Grantor's Contracts is in default in
any material respect in the performance or observance of any of the terms
thereof.

            (v) The right, title and interest of such Grantor in, to and under
such Grantor's Contracts are not subject to any material defenses, offsets,
counterclaims or claims.

            (vi) Such Grantor has delivered to the Administrative Agent a
complete and correct copy of each of such Grantor's Contracts, including all
amendments, supplements and other modifications thereto.

            4.2.9 Vehicles. Schedule 9 is a list of all Vehicles owned by such
Grantor on the date hereof which is accurate in all material respects. The
aggregate book value as of the date hereof of all vehicles owned by any Grantor
and that are registered in a jurisdiction other than the State of Indiana or the
State of Illinois is $963,064.

            4.3 Representations and Warranties of Each Pledgor. To induce the
Administrative Agent and the Lenders to enter into the Credit Agreement and to
induce the Lenders to make their respective extensions of credit to the
Borrowers thereunder, each Pledgor hereby represents and warrants to the
Administrative Agent and each other Secured Party that:

            4.3.1 (a) The shares of Pledged Stock pledged by such Pledgor
hereunder constitute (i) in the case of Pledged Stock constituting Capital Stock
of any Domestic Subsidiary, all the issued and outstanding shares of all classes
of the Capital Stock of each such Domestic Subsidiary owned by such Pledgor,
(ii) in the case of any Pledgor that is a Foreign Subsidiary Borrower, all the
issued and outstanding shares of all classes of the Capital Stock of any
Subsidiary owned by such Pledgor and (iii) in the case of any Pledged Stock
constituting Capital Stock of Foreign Subsidiary Holdco or any Foreign
Subsidiary not covered by clause (ii), such percentage (not more than 65%) as is
specified on Schedule 2 of all the issued and outstanding shares of all classes
of the Capital Stock of each such Foreign Subsidiary Holdco and each such
Foreign Subsidiary owned by such Pledgor.

            4.3.2 All the shares of the Pledged Stock pledged by such Pledgor
hereunder have been duly and validly issued and are fully paid and
nonassessable.

            4.3.3 Each of the Intercompany Notes pledged by such Pledgor
hereunder constitutes the legal, valid and binding obligation of the obligor
with respect thereto, enforceable in accordance with its terms, subject to the
effects of bankruptcy, insolvency, fraudulent conveyance, reorganization,
moratorium and other similar laws relating to or affecting creditors' rights
generally, general equitable principles (whether considered in a proceeding in
equity or at law) and an implied covenant of good faith and fair dealing.

            4.3.4 Such Pledgor is the record and beneficial owner of, and has
good title to, the Pledged Securities pledged by it hereunder, free of any and
all Liens or options in favor of, or

<PAGE>
                                                                              19

claims of, any other Person, except the security interest created by this
Agreement and Liens arising by operation of law or permitted by the Credit
Agreement.

            4.3.5 Upon delivery to the Administrative Agent of the certificates
evidencing the Pledged Securities held by such Pledgor, together with duly
executed stock or bond powers or other instruments of transfer, the security
interest created by this Agreement in such Pledged Collateral, assuming the
continuing possession of such Pledged Securities by the Administrative Agent,
will constitute a valid, perfected first priority security interest in such
Pledged Collateral to the extent provided in the Code, enforceable in accordance
with its terms against all creditors of such Pledgor and any persons purporting
to purchase such Pledged Collateral from such Pledgor, except as enforceability
may be affected by bankruptcy, insolvency, fraudulent conveyance,
reorganization, moratorium and other similar laws relating to or affecting
creditors' rights generally, general equitable principles (whether considered in
a proceeding in equity or at law) and an implied covenant of good faith and fair
dealing.

            4.3.6 Upon the filing of financing statements in the appropriate
jurisdiction under the Code, the security interest created by this Agreement in
such Pledged Securities that constitute uncertificated securities, will
constitute a valid, perfected first priority security interest in such Pledged
Securities constituting uncertificated securities to the extent provided in and
governed by the Code, enforceable in accordance with its terms against all
creditors of such Pledgor and any persons purporting to purchase such Pledged
Securities from such Pledgor, except as enforceability may be affected by
bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and
other similar laws relating to or affecting creditors' rights generally, general
equitable principles (whether considered in a proceeding equity or at law) and
an implied covenant of good faith and fair dealing.

                              SECTION 5. COVENANTS

            5.1 Covenants of Each Guarantor. Each Guarantor covenants and agrees
with the Administrative Agent and the other Secured Parties that, from and after
the date of this Agreement until the earlier to occur of (i) the date upon which
the Loans, any Reimbursement Obligations, and all other Obligations then due and
owing shall have been paid in full in cash, no Letter of Credit shall be
outstanding and the Commitments shall have terminated, or (ii) as to any
Guarantor the date upon which all the Capital Stock of such Guarantor shall have
been sold or otherwise disposed of in accordance with the terms of the Credit
Agreement, such Guarantor shall take, or shall refrain from taking, as the case
may be, each action that is necessary to be taken or not taken, as the case may
be, so that no Default or Event of Default is caused by the failure to take such
action or to refrain from taking such action by such Guarantor or any of its
Subsidiaries.

            5.2 Covenants of Each Grantor. Each Grantor covenants and agrees
with the Administrative Agent and the other Secured Parties that, from and after
the date of this Agreement until the earlier to occur of (i) the date upon which
the Loans, any Reimbursement Obligations, and all other Obligations then due and
owing shall have been paid in full in cash, no Letter of Credit shall be
outstanding and the Commitments shall have terminated, or (ii) as to any
Guarantor to the date upon which all the Capital Stock of such Guarantor shall
have been sold or otherwise disposed of in accordance with the terms of the
Credit Agreement:

<PAGE>
                                                                              20

            5.2.1 Delivery of Instruments and Chattel Paper. If any amount
payable under or in connection with any of such Grantor's Collateral shall be or
become evidenced by any Instrument or Chattel Paper, except as provided in the
following sentence, such Grantor shall be entitled to retain possession of all
Collateral of such Grantor evidenced by any Instrument or Chattel Paper, and
shall hold all such Collateral in trust for the Administrative Agent, for the
ratable benefit of the Secured Parties. In the event that an Event of Default
shall have occurred and be continuing, upon the request of the Administrative
Agent, such Instrument or Chattel Paper shall be promptly delivered to the
Administrative Agent, duly indorsed in a manner satisfactory to the
Administrative Agent, to be held as Collateral pursuant to this Agreement. Such
Grantor shall not permit any other Person to possess any such Collateral at any
time other than in connection with any Permitted Receivables Securitization or
any Disposition of such Collateral in a transaction permitted by the Credit
Agreement.

            5.2.2 Maintenance of Insurance. (i) Such Grantor will maintain, with
financially sound and reputable companies, insurance policies (a) insuring such
Grantor's Inventory, Equipment and Vehicles against loss by fire, explosion,
theft and such other casualties as are usually insured against by companies
engaged in the same or a similar business and (b) insuring such Grantor, the
Administrative Agent and the other Secured Parties against liability for
personal injury and property damage relating to such Inventory, Equipment and
Vehicles, such policies to be in such amounts and covering at least such risks
as are usually insured against by companies engaged in the same or a similar
business.

            (ii) All such insurance shall (a) provide that no cancellation,
material reduction in amount or material change in coverage thereof shall be
effective until at least 15 days after receipt by the Administrative Agent of
written notice thereof, (b) name the Administrative Agent as an additional
insured party or loss payee and (c) include deductibles consistent with past
practice or otherwise consistent with industry practice or otherwise reasonably
satisfactory to the Administrative Agent.

            (iii) Such Grantor (limited solely to the Parent Borrower) shall
deliver to the Administrative Agent and the other Secured Parties reports of one
or more reputable insurance brokers of the individual insurance companies with
respect to such insurance as the Administrative Agent may from time to time
reasonably request.

            5.2.3 Payment of Obligations. Such Grantor will pay and discharge or
otherwise satisfy at or before maturity or before they become delinquent, as the
case may be, all material taxes, assessments and governmental charges or levies
imposed upon such Grantor's Collateral or in respect of income or profits
therefrom, as well as all material claims of any kind (including, without
limitation, material claims for labor, materials and supplies) against or with
respect to such Grantor's Collateral, except that no such tax, assessment,
charge or levy need be paid or satisfied if the amount or validity thereof is
currently being contested in good faith by appropriate proceedings and reserves
in conformity with GAAP with respect thereto have been provided on the books of
such Grantor.

<PAGE>
                                                                              21

            5.2.4 Maintenance of Perfected Security Interest; Further
Documentation. (i) Such Grantor shall maintain the security interest created by
this Agreement in such Grantor's Collateral as a perfected security interest
having at least the priority described in Section 4.2.2 and shall defend such
security interest against the claims and demands of all Persons whomsoever.

            (ii) Such Grantor will furnish to the Administrative Agent from time
to time statements and schedules further identifying and describing such
Grantor's Collateral and such other reports in connection with such Grantor's
Collateral as the Administrative Agent may reasonably request in writing, all in
reasonable detail.

            (iii) At any time and from time to time, upon the written request of
the Administrative Agent, and at the sole expense of such Grantor, such Grantor
will promptly and duly execute and deliver such further instruments and
documents and take such further actions as the Administrative Agent may
reasonably request for the purpose of obtaining or preserving the full benefits
of this Agreement and of the rights and powers herein granted by such Grantor,
including, without limitation, the filing of any financing or continuation
statements under the Uniform Commercial Code (or other similar laws) in effect
in any jurisdiction with respect to the security interests created hereby.

            5.2.5 Changes in Locations, Name, etc. Such Grantor will not, except
upon not less than 10 days' prior written notice to the Administrative Agent and
delivery to the Administrative Agent, if applicable, of a written supplement to
Schedule 4 showing any additional location at which such Grantor's Inventory or
Equipment shall be kept:

            (i) permit any of such Grantor's Inventory or Equipment to be kept
      at a location other than the location(s) applicable to such Grantor listed
      on Schedule 4 (other than (A) Inventory or Equipment being conveyed, sold,
      leased, assigned, transferred or otherwise disposed of as permitted by the
      Credit Agreement, (B) equipment at various sales offices with a fair
      market value of less than $10,000 per sales office and (C) mobile goods);

            (ii) change the location of its chief executive office or sole place
      of business from that referred to in Section 4.2.3; or

            (iii) change its name, identity or corporate structure to such an
      extent that any financing statement filed by the Administrative Agent in
      connection with this Agreement would become misleading;

provided that, prior to taking any such action, or promptly after receiving a
written request therefor from the Administrative Agent, such Grantor shall
deliver to the Administrative Agent all additional executed financing statements
and other documents reasonably requested by the Administrative Agent to maintain
the validity, perfection and priority of the security interests provided for
herein.

            5.2.6 Notices. Such Grantor will advise the Administrative Agent
promptly, in reasonable detail, of:

<PAGE>
                                                                              22

            (i) any Lien (other than security interests created hereby or Liens
permitted under the Credit Agreement) on any of such Grantor's Collateral which
would adversely affect the ability of the Administrative Agent to exercise any
of its remedies hereunder; and

            (ii) of the occurrence of any other event which would reasonably be
expected to have a material adverse effect on the aggregate value of such
Grantor's Collateral or on the security interests created hereby.

            5.2.7 Pledged Securities. In the case of each Grantor which is an
Issuer, such Issuer agrees that (i) it will be bound by the terms of this
Agreement relating to the Pledged Securities issued by it and will comply with
such terms insofar as such terms are applicable to it, (ii) it will notify the
Administrative Agent promptly in writing of the occurrence of any of the events
described in Section 5.3.1 with respect to the Pledged Securities issued by it
and (iii) the terms of Sections 6.3(c) and 6.7 shall apply to it, mutatis
mutandis, with respect to all actions that may be required of it pursuant to
Section 6.3(c) or 6.7 with respect to the Pledged Securities issued by it.

            5.2.8 Receivables. (i) Other than in the ordinary course of business
or as expressly permitted by the Loan Documents, such Grantor will not (a) grant
any extension of the time of payment of any of such Grantor's Receivables, (b)
compromise or settle any such Receivable for less than the full amount thereof,
(c) release, wholly or partially, any Person liable for the payment of any
Receivable or (d) allow any credit or discount whatsoever on any such Receivable
unless such extensions, compromises, settlements, releases, credits or discounts
would not reasonably be expected to materially adversely affect the value of the
Receivables constituting Collateral taken as a whole.

            (ii) Such Grantor will deliver to the Administrative Agent a copy of
each material demand, notice or document received by it that questions or calls
into doubt the validity or enforceability of more than 10% of the aggregate
amount of the then outstanding Receivables.

            5.2.9 Maintenance of Records. Such Grantor will keep and maintain at
its own cost and expense reasonably satisfactory and complete records of its
Collateral, including, without limitation, a record of all payments received and
all credits granted with respect to such Collateral, and shall mark such records
to evidence this Agreement and the Liens and the security interests created
hereby. For the Administrative Agent's and the other Secured Parties' further
security, the Administrative Agent, for the benefit of the Secured Parties,
shall have a security interest in all of such Grantor's books and records
pertaining to such Grantor's Collateral.

            5.2.10 Intellectual Property. (i) Such Grantor agrees that, should
it obtain an ownership interest in any material (x) registration of Copyright,
Patent or Trademark or (y) any exclusive rights under a material Copyright
License, Patent License or Trademark License which is not now a part of the
Collateral, (A) the provisions of Section 3 shall automatically apply thereto,
(B) any such Copyright, Copyright License, Patent, Patent License, Trademark or
Trademark License shall automatically become part of the Collateral, and (C)
with respect to any ownership interest in any such Copyright, Copyright License,
Patent, Patent License, Trademark or Trademark License that such Grantor should
obtain, it shall give notice thereof to the

<PAGE>
                                                                              23

Administrative Agent in writing, in reasonable detail, at its address set forth
in the Credit Agreement within 45 days after the end of the calendar quarter in
which it obtains such ownership interest. Such Grantor authorizes the
Administrative Agent to modify this Agreement by amending Schedule 5 (and will
cooperate reasonably with the Administrative Agent in effecting any such
amendment) to include on Schedule 5 any Copyright, Copyright License, Patent,
Patent License, Trademark or Trademark License of which it receives notice under
this Section, or to prepare and file with the United States Patent and Trademark
Office or the United States Copyright Office a supplement to this Agreement to
include any Copyright, Patent or Trademark of which it receives notice under
this Section.

            (ii) Except as permitted in the Loan Documents, such Grantor agrees
to take all reasonably necessary steps, including, without limitation, in the
United States Patent and Trademark Office or in any court, to (A) maintain each
trademark registration and each Trademark License identified on Schedule 5, and
(B) pursue each trademark application now or hereafter identified on Schedule 5,
including, without limitation, the filing of responses to office actions issued
by the United States Patent and Trademark Office, the filing of applications for
renewal, the filing of affidavits under Sections 8 and 15 of the United States
Trademark Act, and the participation in opposition, cancellation, infringement
and dilution proceedings, except, in each case in which such Grantor has
reasonably determined that any of the foregoing is not of material economic
value to it. Such Grantor agrees to take corresponding steps with respect to
each new or acquired trademark or service mark registration, or application for
trademark or service mark registration, or any rights obtained under any
Trademark License, in each case, to which it is now or later becomes entitled,
except in each case in which such Grantor has reasonably determined that any of
the foregoing is not of material economic value to it. Any expenses incurred in
connection with such activities shall be borne by such Grantor.

            (iii) Except as permitted in the Loan Documents, such Grantor agrees
to take all necessary steps, including, without limitation, in the United States
Patent and Trademark Office or in any court, to (A) maintain each patent and
each Patent License identified on Schedule 5, and (B) pursue each patent
application, now or hereafter identified on Schedule 5, including, without
limitation, the filing of divisional, continuation, continuation-in-part and
substitute applications, the filing of applications for reissue, renewal or
extensions, the payment of maintenance fees, and the participation in
interference, reexamination, opposition or infringement and misappropriation
proceedings, except, in each case in which such Grantor has reasonably
determined that any of the foregoing is not of material economic value to it.
Such Grantor agrees to take corresponding steps with respect to each new or
acquired patent, patent application, or any rights obtained under any Patent
License, in each case, to which it is now or later becomes entitled, except in
each case in which such Grantor has reasonably determined that any of the
foregoing is not of material economic value to it. Any expenses incurred in
connection with such activities shall be borne by such Grantor.

            (iv) Except as provided in subsection (v) hereof, such Grantor shall
take all additional steps not set forth in subsections (ii) and (iii) hereof
which it or the Administrative Agent deems reasonably appropriate under the
circumstances to preserve and protect its material Patents, Patent Licenses,
Trademarks, and Trademark Licenses.

<PAGE>
                                                                              24

            (v) Such Grantor shall not abandon any trademark registration,
patent or any pending trademark or patent application, in each case listed on
Schedule 5, without the written consent of the Administrative Agent, unless such
Grantor shall have previously determined that such use or the pursuit or
maintenance of such trademark registration, patent or pending trademark or
patent application is not of material economic value to it, in which case, such
Grantor will, at least annually, give notice of any such abandonment to the
Administrative Agent in writing, in reasonable detail, at its address set forth
in the Credit Agreement.

            (vi) In the event that any Grantor becomes aware that any item of IP
Collateral which such Grantor has reasonably determined to be material to its
business is infringed or misappropriated by a third party, which infringement or
misappropriation would reasonably be expected to have a Material Adverse Effect,
such Grantor shall notify the Administrative Agent promptly and in writing, in
reasonable detail, at its address set forth in the Credit Agreement, and shall
take such actions as such Grantor or the Administrative Agent deems reasonably
appropriate under the circumstances to protect such IP Collateral, including,
without limitation, suing for damages and/or for an injunction against such
infringement or misappropriation. Any expense incurred in connection with such
activities shall be borne by such Grantor. Such Grantor will advise the
Administrative Agent promptly and in writing, in reasonable detail, at its
address set forth in the Credit Agreement, of any adverse determination or the
institution of any proceeding (including, without limitation, the institution of
any proceeding in the United States Patent and Trademark Office or any court)
regarding any item of the IP Collateral which could reasonably result in a
Material Adverse Effect.

            (vii) Such Grantor shall mark its products with the trademark
registration symbol -Registered Trademark-, the numbers of all appropriate
patents, the common law trade mark symbol -TM-, or the designation "patent
pending," as the case may be, to the extent that it is reasonably and
commercially practicable.

            (viii) Such Grantor will not create, incur or permit to exist, will
defend the IP Collateral against, and will take such other action as is
reasonably necessary to remove, any material Lien or material adverse claim on
or to any of the IP Collateral other than Liens created hereby and other than as
permitted pursuant to the Loan Documents (including, without limitation, any
Liens permitted to exist on the IP Collateral pursuant to subsection 8.3 of the
Credit Agreement), and will defend the right, title and interest of the
Administrative Agent and the other Secured Parties in and to any of the IP
Collateral against the claims and demands of all Persons whomsoever, except
where failure to defend would not have a Material Adverse Effect.

            (ix) Without the prior written consent of the Administrative Agent,
such Grantor will not sell, assign, transfer, exchange, license or otherwise
dispose of or grant any option with respect to, the IP Collateral or the
Software License Agreement, by and between Norfolk Southern Corporation, NS
Transportation Brokerage Corporation and the Parent Borrower, or attempt, offer
or contract to do so, except with respect to licenses in the ordinary course of
business or as permitted by this Agreement or the other Loan Documents.

            (x) Such Grantor will advise the Administrative Agent promptly and
in writing, in reasonable detail, at its address set forth in the Credit
Agreement, (A) of any Lien (other than

<PAGE>
                                                                              25

Liens created hereby or permitted under the Loan Documents, including, without
limitation, any Liens permitted to exist on the IP Collateral pursuant to
subsection 8.3 of the Credit Agreement) on any IP Collateral and (B) of the
occurrence of any other event which would reasonably be expected in the
aggregate to have a material adverse effect on the aggregate value of the IP
Collateral as a whole or the Liens created hereunder.

            5.2.11 Protection of Trade Secrets. Such Grantor shall take all
commercially reasonable steps to preserve and protect the secrecy of all
material Trade Secrets of such Grantor.

            5.2.12 Contracts. Such Grantor will perform and comply in all
material respects with such Grantor's obligations under its Contracts.

            5.2.13 Vehicles. (i) Without the prior written consent of the
Administrative Agent, no certificate of title for any Vehicle shall be
surrendered to any Person other than the Administrative Agent unless such
surrender is (A) made to the motor vehicle department of the state in which such
Vehicle is registered in connection with the notation thereon of the Lien in
favor of the Administrative Agent or in connection with the administration
thereof so long as no adverse effect on such notation shall result therefrom,
(B) in connection with such Vehicle being registered in another jurisdiction if,
after giving effect to such registration, the aggregate book value of all
vehicles owned by the Grantors and registered in a jurisdiction other than the
State of Indiana would not exceed $5,000,000, and all applications for a
certificate of title indicating the Administrative Agent's first priority
security interest in such Vehicle and any other necessary documentation have
been or, contemporaneously with such surrender, will be filed in each office in
each such other jurisdiction which the Administrative Agent shall reasonably
deem advisable to continue the perfection of its security interest in such
Vehicle or (C) in connection with the Disposition of such Vehicle in a
transaction permitted by the Credit Agreement.

            (ii) Within 30 days after the date hereof, and, with respect to any
Vehicles acquired by such Grantor subsequent to the date hereof, within 30 days
after the date of acquisition thereof, all applications for certificates of
title indicating the Administrative Agent's first priority security interest in
the Vehicle covered by such certificate, and any other necessary documentation,
shall be filed in each office in each jurisdiction which the Administrative
Agent shall reasonably deem advisable to perfect its security interests in such
Vehicles.

            (iii) Until such time as all certificates of title for Vehicles
owned by the Parent Borrower and each other Granting Party have been delivered
to the Administrative Agent, the Parent Borrower shall furnish, no later then 45
days after the end of each quarterly period of each fiscal year of the Borrower,
to the Administrative Agent a report that sets forth as of the last day of such
quarter (the "Reporting Date"):

            (a) a list of all Vehicles in which the Administrative Agent has a
      security interest hereunder;

            (b) a list of all Vehicles in which a security interest was granted
      hereunder and for which the certificates of title have been modified,
      since the last Reporting Date, in such a way as to terminate the
      Administrative Agent's security interest in such Vehicles, together

<PAGE>
                                                                              26

      with a brief description of the Disposition of such Vehicles that sets
      forth, for each such Vehicle, the reason for such Disposition and the
      Proceeds received by the Parent Borrower or any other Granting Party in
      connection with such Disposition; and

            (c) the aggregate book value of all vehicles that, (1) as of the
      Reporting Date, are owned by the Parent Borrower or any other Granting
      Party and (2) are titled or registered in a jurisdiction other than the
      State of Indiana or the State of Illinois.

            5.3 Covenants of Each Pledgor. Each Pledgor covenants and agrees
with the Administrative Agent and the other Secured Parties that, from and after
the date of this Agreement until the earlier to occur of (i) the Loans, any
Reimbursement Obligations, and all other Obligations then due and owing shall
have been paid in full in cash, no Letter of Credit shall be outstanding and the
Commitments shall have terminated, or (ii) as to any Pledgor the date upon which
all the Capital Stock of such Pledgor shall have been sold or otherwise disposed
of in accordance with the terms of the Credit Agreement:

            5.3.1 If such Pledgor shall become entitled to receive or shall
receive any certificate (including, without limitation, any certificate
representing a stock dividend or a distribution in connection with any
reclassification, increase or reduction of capital or any certificate issued in
connection with any reorganization), option or similar rights in respect of the
Capital Stock of any Issuer, whether in addition to, in substitution of, as a
conversion of, or in exchange for, any shares of the Pledged Stock, or otherwise
in respect thereof, such Pledgor shall, except as otherwise permitted by
subsection 8.9(m) of the Credit Agreement, accept the same as the agent of the
Administrative Agent and the other Secured Parties, hold the same in trust for
the Administrative Agent and the other Secured Parties and deliver the same
forthwith to the Administrative Agent in the exact form received, duly indorsed
by such Pledgor to the Administrative Agent, if required, together with an
undated stock power covering such certificate duly executed in blank by such
Pledgor and with, if the Administrative Agent so requests, signature guaranteed,
to be held by the Administrative Agent, subject to the terms hereof, as
additional collateral security for the Obligations (provided that in no event
shall there be pledged, nor shall any Pledgor be required to pledge, more than
65% of any series of the outstanding Capital Stock of any Foreign Subsidiary or
any Foreign Subsidiary Holdco pursuant to this Agreement, in each case, to the
extent that the Parent Borrower's Obligations are secured by such pledge). Any
sums paid upon or in respect of the Pledged Securities upon the liquidation or
dissolution of any Issuer (except any liquidation or dissolution of any
Subsidiary of a Borrower in accordance with the Credit Agreement) shall be paid
over to the Administrative Agent to be held by it hereunder as additional
collateral security for the Obligations, and in case any distribution of capital
shall be made on or in respect of the Pledged Securities or any property shall
be distributed upon or with respect to the Pledged Securities pursuant to the
recapitalization or reclassification of the capital of any Issuer or pursuant to
the reorganization thereof, the property so distributed shall, unless otherwise
subject to a perfected security interest in favor of the Administrative Agent,
be delivered to the Administrative Agent to be held by it hereunder as
additional collateral security for the Obligations. If any sums of money or
property so paid or distributed in respect of the Pledged Securities shall be
received by such Pledgor, such Pledgor shall, until such money or property is
paid or delivered to the Administrative Agent, hold such money or property in
trust

<PAGE>
                                                                              27

for the Secured Parties, segregated from other funds of such Pledgor, as
additional collateral security for the Obligations.

            5.3.2 Without the prior written consent of the Administrative Agent,
such Pledgor will not (except pursuant to the Credit Agreement and the
Indentures, or as permitted by the Credit Agreement) (i) vote to enable, or take
any other action to permit, any Issuer to issue any stock or other equity
securities of any nature or to issue any other securities convertible into or
granting the right to purchase or exchange for any stock or other equity
securities of any nature of any Issuer, (ii) sell, assign, transfer, exchange,
or otherwise dispose of, or grant any option with respect to, the Pledged
Securities or Proceeds thereof, (iii) create, incur or permit to exist any Lien
or option in favor of, or any material adverse claim of any Person with respect
to, any of the Pledged Securities or Proceeds thereof, or any interest therein,
except for the security interests created by this Agreement or Liens arising by
operation of law or (iv) enter into any agreement or undertaking restricting the
right or ability of such Pledgor or the Administrative Agent to sell, assign or
transfer any of the Pledged Securities or Proceeds thereof.

            5.3.3 Such Pledgor shall maintain the security interest created by
this Agreement in such Pledgor's Pledged Collateral as a perfected security
interest having at least the priority described in Section 4.3.5 and shall
defend such security interest against the claims and demands of all Persons
whomsoever. At any time and from time to time, upon the written request of the
Administrative Agent, and at the sole expense of such Pledgor, such Pledgor will
promptly and duly execute and deliver such further instruments and documents and
take such further actions as the Administrative Agent may reasonably request for
the purpose of obtaining or preserving the full benefits of this Agreement and
of the rights and powers herein granted by such Pledgor.

            5.4 Covenants of Holding. Holding covenants and agrees with the
Administrative Agent and the other Secured Parties that, from and after the date
of this Agreement until the Loans, any Reimbursement Obligations, and all other
Obligations then due and owing shall have been paid in full in cash, no Letter
of Credit shall be outstanding and the Commitments shall have terminated:

            5.4.1 Capital Contributions to the Parent Borrower. Immediately upon
receipt of the cash proceeds of any Asset Sale or any incurrence of Indebtedness
for borrowed money (other than Indebtedness permitted pursuant to Section
5.4.2(ii) hereof), Holding shall make a capital contribution to the Parent
Borrower of all of such cash proceeds, on terms and conditions reasonably
satisfactory to the Administrative Agent.

            5.4.2 Limitation on Activities of Holding. Notwithstanding anything
to the contrary in this Agreement or any other Loan Document:

            (i) conduct, transact or otherwise engage in, or commit to conduct,
      transact or otherwise engage in, any business or operations other than (a)
      the provision of administrative, legal, accounting and management services
      to or on behalf of any of its Subsidiaries, (b) those incidental to its
      ownership of the Capital Stock of the Parent Borrower or other ownership
      interests in its Subsidiaries, including the Parent Borrower, the sale and
      transfer of such ownership interests (to the extent not otherwise
      prohibited

<PAGE>
                                                                              28

      by any of the Loan Documents), and the exercise of rights and performance
      of obligations in connection therewith, (c) the entry into, and the
      exercise of rights and performance of obligations in respect of, (A) the
      Transaction Documents, this Agreement and any other Loan Document to which
      Holding is a party, and any Indebtedness or other obligations permitted to
      be incurred by it pursuant to the Loan Documents, in each case as amended,
      supplemented, waived or otherwise modified from time to time, and any
      refinancings, refundings, renewals or extensions thereof, (B) contracts
      and agreements with officers, directors and employees of Holding or a
      Subsidiary thereof relating to their employment or directorships, (C)
      insurance policies and related contracts and agreements, and (D) equity
      subscription agreements, registration rights agreements, voting and other
      stockholder agreements, engagement letters, underwriting agreements and
      other agreements in respect of its equity securities or any offering,
      issuance or sale thereof, including but not limited to in respect of the
      Management Subscription Agreements, (d) the offering, issuance, sale and
      repurchase or redemption of, and dividends or distributions on, its equity
      securities (to the extent not otherwise prohibited by any of the Loan
      Documents), (e) the filing of registration statements, and compliance with
      applicable reporting and other obligations, under federal, state or other
      securities laws, (f) the listing of its equity securities and compliance
      with applicable reporting and other obligations in connection therewith,
      (g) the retention of (and the entry into, and the exercise of rights and
      performance of obligations in respect of, contracts and agreements with)
      transfer agents, private placement agents, underwriters, counsel,
      accountants and other advisors and consultants, (h) the performance of
      obligations under and compliance with its certificate of incorporation and
      by-laws, or any applicable law, ordinance, regulation, rule, order,
      judgment, decree or permit, including, without limitation, as a result of
      or in connection with the activities of its Subsidiaries, (i) the
      incurrence and payment of its operating and business expenses and any
      taxes for which it may be liable, (j) the making of loans to or other
      Investments in, or incurrence of Indebtedness to, its Subsidiaries (to the
      extent not otherwise prohibited by any of the Loan Documents), (k) the
      ownership of, and the exercise of rights and performance of obligations in
      respect of, Intellectual Property and foreign patents, trademarks, trade
      names, copyrights, technology, know-how and processes and licensing such
      Intellectual Property and foreign patents, trademarks, trade names,
      copyrights, technology, know-how and processes (other than Intellectual
      Property which is material to the business of the Parent Borrower and its
      Subsidiaries, which Intellectual Property shall be owned by the Parent
      Borrower and its Subsidiaries), and (l) other activities incidental or
      related to the foregoing;

            (ii) incur, create, assume or suffer to exist any Indebtedness or
      other liabilities or financial obligations, except (a) nonconsensual
      obligations imposed by operation of law, (b) pursuant to the Loan
      Documents to which it is a party, (c) obligations with respect to its
      Capital Stock, (d) the Holding Preferred Stock having an aggregate
      liquidation preference not in excess of $94,000,000, (e) upon exchange of
      the Holding Preferred Stock, the Holding Subordinated Exchange Debentures
      in an aggregate principal amount not to exceed $94,000,000, provided that,
      prior to the issuance of the Holding Subordinated Exchange Debentures,
      Holding shall have furnished to the Administrative Agent a certificate of
      a Responsible Officer of Holding to the effect that on the date of
      issuance of the Holding Subordinated Exchange Debentures no Default or
      Event of

<PAGE>
                                                                              29

      Default shall have occurred and be continuing or would result from the
      issuance thereof and demonstrating that, at the time of and after giving
      pro forma effect to such issuance, Holding shall have a Leverage Ratio of
      less than 3.00 to 1.00, (f) the Holding Senior Discount Notes having an
      original aggregate face amount not to exceed $35,000,000 and (g) the
      Holding Loan in a principal amount not to exceed $40,000,000;

            (iii) declare or pay any dividend (other than dividends payable
      solely in additional shares of Holding Preferred Stock) on, or make any
      payment on account of, or set apart assets for a sinking or other
      analogous fund for, the purchase, redemption, defeasance, retirement or
      other acquisition of, any shares or Holding Preferred Stock or make any
      other distribution (other than distributions payable solely in additional
      shares of Holding Preferred Stock), either directly or indirectly, whether
      in cash or property or in obligations of Holding or any Subsidiary, except
      that after November 19, 2004, Holding may pay cash dividends on the shares
      of Holding Preferred Stock so long as no Default or Event of Default shall
      have occurred and be continuing or would result from the payment of such
      cash dividend;

            (iv) make any amendment, supplement, modification or waiver of any
      of the terms of Holding Preferred Stock or the Preferred Stock Certificate
      of Designation (in each case, other than any such amendment, supplement,
      modification or waiver that (a) would extend the scheduled redemption date
      or reduce the amount of any scheduled redemption payment or reduce the
      rate or extend any date for payment of dividends thereon and (b) does not
      involve the payment of a consent fee);

            (v) in the event of the occurrence of a Change of Control, make any
      payment, prepayment, repurchase or redemption of any Holding Subordinated
      Exchange Debentures, any Holding Preferred Stock, any Holding Senior
      Discount Notes or the Holding Loan, or make any payments on account of or
      for a sinking or other analogous fund for the repurchase, redemption,
      defeasance or other acquisition thereof, unless the Parent Borrower and
      the other Borrowers shall have (a) made payment in full of the Loans, all
      Reimbursement Obligations and any other amounts then due and owing to any
      Lender or the Administrative Agent under the Credit Agreement and under
      any Note and cash collateralized the L/C Obligations on terms reasonably
      satisfactory to the Administrative Agent or (b) made an offer to pay the
      Loans, all Reimbursement Obligations and any amounts then due and owing to
      each Lender and the Administrative Agent under the Credit Agreement and
      under any Note and to cash collateralize the L/C Obligations in respect of
      each Lender and shall have made payment in full thereof to each such
      Lender or the Administrative Agent which has accepted such offer and cash
      collateralized the L/C Obligations in respect of each such Lender which
      has accepted such offer;

            (vi) make any optional payment, prepayment, repurchase or redemption
      of the Holding Subordinated Exchange Debentures or the Holding Senior
      Discount Notes or make any payments on account of or for a sinking or
      other analogous fund for the repurchase, redemption, defeasance or other
      acquisition thereof (other than scheduled payments of principal and
      interest and payments of, in each case, fees and expenses

<PAGE>
                                                                              30

      required by the Holding Subordinated Exchange Debentures, the Holding
      Senior Discount Notes or the Holding Senior Discount Note Indenture, only
      to the extent permitted under the subordination provisions, if any,
      applicable thereto); provided that, notwithstanding the foregoing, there
      shall be no cash payment of principal or interest related to the Holding
      Subordinated Exchange Debentures or the Holding Senior Discount Notes
      until after November 19, 2004;

            (vii) make any amendment, supplement, modification or waiver of any
      of the terms of the Holding Subordinated Exchange Debentures, the Holding
      Senior Discount Notes, the Holding Senior Discount Note Indenture or the
      Holding Loan Agreement (a) which amends or modifies the subordination
      provisions contained in the Holding Subordinated Exchange Debentures, (b)
      which shortens the fixed maturity or increases the principal amount of, or
      increases the rate or shortens the time of payment of interest on, or
      increases the amount or shortens the time of payment of any principal or
      premium payable whether at maturity, at a date fixed for prepayment or by
      acceleration or otherwise of the Indebtedness evidenced by the Holding
      Subordinated Exchange Debentures, the Holding Senior Discount Notes or the
      Holding Loan or increases the amount of, or accelerates the time of
      payment of, any fees or other amounts payable in connection therewith, (c)
      which relates to any material affirmative or negative covenants or any
      events of default or remedies thereunder and the effect of which, in
      Holding's good faith judgment, is to subject Holding, or any of its
      Subsidiaries, to any more onerous or more restrictive provisions or (d)
      which otherwise adversely affects, in Holding's good faith judgment, the
      interests of the Lenders as senior creditors with respect to the Holding
      Subordinated Exchange Debentures, the Holding Senior Discount Notes, the
      Holding Loan or the interests of the Lenders under the Credit Agreement in
      any material respect;

            (viii) designate any Indebtedness (other than the obligations under
      the Credit Agreement and under the other Loan Documents) as "Designated
      Senior Indebtedness" for the purposes of the Holding Subordinated Exchange
      Debentures; or

            (ix) own, lease, manage or otherwise operate any properties or
      assets (including cash (other than cash received in connection with loans,
      advances and dividends in accordance with subsection 8.7 of the Credit
      Agreement pending application in the manner contemplated by said
      subsection) and cash equivalents) other than the ownership of shares of
      Capital Stock of the Parent Borrower.

                         SECTION 6. REMEDIAL PROVISIONS

            6.1 Certain Matters Relating to Receivables. (a) At any time and
from time to time after the occurrence and during the continuance of an Event of
Default, the Administrative Agent shall have the right to make test
verifications of the Receivables in any manner and through any reasonable medium
that it reasonably considers advisable, and the relevant Grantor shall furnish
all such assistance and information as the Administrative Agent may reasonably
require in connection with such test verifications. At any time and from time to
time after the occurrence and during the continuance of an Event of Default,
upon the Administrative Agent's reasonable request and at the expense of the
relevant Grantor, such Grantor shall cause independent public

<PAGE>
                                                                              31

accountants or others reasonably satisfactory to the Administrative Agent to
furnish to the Administrative Agent reports showing reconciliations, aging and
test verifications of, and trial balances for, the Receivables.

            (b) The Administrative Agent hereby authorizes each Grantor to
collect such Grantor's Receivables and the Administrative Agent may curtail or
terminate said authority at any time after the occurrence and during the
continuance of an Event of Default. If required by the Administrative Agent at
any time after the occurrence and during the continuance of an Event of Default,
any Proceeds constituting payments of Receivables, when collected by such
Grantor, (i) shall be forthwith (and, in any event, within two Business Days of
receipt by such Grantor) deposited in, or otherwise transferred by such Grantor
to, the Collateral Proceeds Account established by such Grantor maintained under
the sole dominion and control of the Administrative Agent, subject to withdrawal
by the Administrative Agent for the account of the Secured Parties only as
provided in Section 6.5, and (ii) until so turned over, shall be held by such
Grantor in trust for the Administrative Agent and the other Secured Parties,
segregated from other funds of such Grantor. All Proceeds constituting
collections of Receivables while held by the Collateral Account Bank (or by any
Grantor in trust for the benefit of the Administrative Agent and the other
Secured Parties) shall continue to be collateral security for all of the
Obligations and shall not constitute payment thereof until applied as
hereinafter provided. At any time when an Event of Default has occurred and is
continuing, at the Administrative Agent's election, the Administrative Agent may
apply all or any part of the funds on deposit in the Collateral Proceeds Account
established by the relevant Grantor to the payment of the Obligations of such
Grantor then due and owing, such application to be made as set forth in Section
6.5 hereof. So long as no Event of Default has occurred and is continuing, the
funds on deposit in the Collateral Proceeds Account shall be remitted as
provided in Section 6.1(d) hereof.

            (c) At any time and from time to time after the occurrence and
during the continuance of an Event of Default, at the Administrative Agent's
request, each Grantor shall deliver to the Administrative Agent copies or, if
required by the Administrative Agent for the enforcement thereof or foreclosure
thereon, originals of all documents held by such Grantor evidencing, and
relating to, the agreements and transactions which gave rise to such Grantor's
Receivables, including, without limitation, all statements relating to such
Grantor's Receivables and all orders, invoices and shipping receipts.

            (d) General Fund Account. So long as no Event of Default has
occurred and is continuing, the Administrative Agent shall instruct the
Collateral Account Bank to promptly remit any funds on deposit in each Grantor's
Collateral Proceeds Account to such Grantor's General Fund Account. In the event
that an Event of Default has occurred and is continuing, the Administrative
Agent and the Grantors agree that the Administrative Agent, at its option, may
require that each Collateral Proceeds Account be established at The Chase
Manhattan Bank. Each Grantor shall have the right, at any time and from time to
time, to withdraw such of its own funds from its own General Fund Account, and
to maintain such balances in its General Fund Account, as it shall deem to be
necessary or desirable.

            6.2 Communications with Obligors; Grantors Remain Liable. (a) The
Administrative Agent in its own name or in the name of others may at any time
and from time to

<PAGE>
                                                                              32

time after the occurrence and during the continuance of an Event of Default
communicate with obligors under the Receivables and parties to the Contracts (in
each case, to the extent constituting Collateral) to verify with them to the
Administrative Agent's satisfaction the existence, amount and terms of any
Receivables or Contracts.

            (b) Upon the request of the Administrative Agent at any time after
the occurrence and during the continuance of an Event of Default, each Grantor
shall notify obligors on such Grantor's Receivables and parties to such
Grantor's Contracts (in each case, to the extent constituting Collateral) that
such Receivables and such Contracts have been assigned to the Administrative
Agent, for the ratable benefit of the Secured Parties, and that payments in
respect thereof shall be made directly to the Administrative Agent.

            (c) Anything herein to the contrary notwithstanding, each Grantor
shall remain liable under each of such Grantor's Receivables and Contracts to
observe and perform all the conditions and obligations to be observed and
performed by it thereunder, all in accordance with the terms of any agreement
giving rise thereto. Neither the Administrative Agent nor any Secured Party
shall have any obligation or liability under any Receivable or Contract (or any
agreement giving rise thereto) by reason of or arising out of this Agreement or
the receipt by the Administrative Agent or any other Secured Party of any
payment relating thereto, nor shall the Administrative Agent or any other
Secured Party be obligated in any manner to perform any of the obligations of
any Grantor under or pursuant to any Receivable or Contract (or any agreement
giving rise thereto) to make any payment, to make any inquiry as to the nature
or the sufficiency of any payment received by it or as to the sufficiency of any
performance by any party thereunder, to present or file any claim, to take any
action to enforce any performance or to collect the payment of any amounts which
may have been assigned to it or to which it may be entitled at any time or
times.

            6.3 Pledged Stock. (a) Unless an Event of Default shall have
occurred and be continuing and the Administrative Agent shall have given notice
to the relevant Pledgor of the Administrative Agent's intent to exercise its
corresponding rights pursuant to Section 6.3(b), each Pledgor shall be permitted
to receive all cash dividends paid in respect of the Pledged Stock and all
payments made in respect of the Pledged Notes, to the extent permitted in the
Credit Agreement, and to exercise all voting and corporate rights with respect
to the Pledged Securities; provided, however, that no vote shall be cast or
corporate right exercised or such other action taken (other than in connection
with a transaction expressly permitted by the Credit Agreement) which would
materially impair the Pledged Collateral or the related rights or remedies of
the Secured Parties or which would be inconsistent with or result in any
violation of any provision of the Credit Agreement, this Agreement or any other
Loan Document.

            (b) If an Event of Default shall occur and be continuing and the
Administrative Agent shall give notice of its intent to exercise such rights to
the relevant Pledgor or Pledgors, (i) the Administrative Agent shall have the
right to receive any and all cash dividends, payments or other Proceeds paid in
respect of the Pledged Securities and make application thereof to the
Obligations in such order as is provided in Section 6.5 and (ii) any or all of
the Pledged Securities shall be registered in the name of the Administrative
Agent or its nominee, and the Administrative Agent or its nominee may thereafter
exercise (x) all voting, corporate and other rights pertaining

<PAGE>
                                                                              33

to such Pledged Securities at any meeting of shareholders of the relevant Issuer
or Issuers or otherwise and (y) any and all rights of conversion, exchange,
subscription and any other rights, privileges or options pertaining to such
Pledged Securities as if it were the absolute owner thereof (including, without
limitation, the right to exchange at its discretion any and all of the Pledged
Securities upon the merger, consolidation, reorganization, recapitalization or
other fundamental change in the corporate structure of any Issuer, or upon the
exercise by the relevant Pledgor or the Administrative Agent of any right,
privilege or option pertaining to such Pledged Securities, and in connection
therewith, the right to deposit and deliver any and all of the Pledged
Securities with any committee, depositary, transfer agent, registrar or other
designated agency upon such terms and conditions as the Administrative Agent may
reasonably determine), all without liability (other than for its gross
negligence or willful misconduct) except to account for property actually
received by it, but the Administrative Agent shall have no duty to any Pledgor
to exercise any such right, privilege or option and shall not be responsible for
any failure to do so or delay in so doing, provided that the Administrative
Agent shall not exercise any voting or other consensual rights pertaining to the
Pledged Securities in any way that would constitute an exercise of the remedies
described in Section 6.6 other than in accordance with Section 6.6.

            (c) Each Pledgor hereby authorizes and instructs each Issuer of any
Pledged Securities pledged by such Pledgor hereunder to (i) comply with any
instruction received by it from the Administrative Agent in writing that (x)
states that an Event of Default has occurred and is continuing and (y) is
otherwise in accordance with the terms of this Agreement, without any other or
further instructions from such Pledgor, and each Pledgor agrees that each Issuer
shall be fully protected in so complying and (ii) to the extent so provided in
this Section 6.3, pay any dividends or other payments with respect to the
Pledged Securities directly to the Administrative Agent.

            6.4 Proceeds to be Turned Over To Administrative Agent. In addition
to the rights of the Administrative Agent and the other Secured Parties
specified in Section 6.1 with respect to payments of Receivables, if an Event of
Default shall occur and be continuing, and the Administrative Agent shall have
instructed any Grantor to do so, all Proceeds received by such Grantor
consisting of cash, checks and other Cash Equivalents shall be held by such
Grantor in trust for the Administrative Agent and the other Secured Parties,
segregated from other funds of such Grantor, and shall, forthwith upon receipt
by such Grantor, be turned over to the Administrative Agent in the exact form
received by such Grantor (duly indorsed by such Grantor to the Administrative
Agent, if required).  All Proceeds received by the Administrative Agent
hereunder shall be held by the Administrative Agent in the relevant
Collateral Proceeds Account maintained under its sole dominion and control.
All Proceeds while held by the Administrative Agent in such Collateral
Proceeds Account (or by such Grantor in trust for the Administrative Agent
and the other Secured Parties) shall continue to be held as collateral
security for all the Obligations and shall not constitute payment thereof
until applied as provided in Section 6.5.

            6.5 Application of Proceeds. It is agreed that if an Event of
Default shall occur and be continuing, any and all Proceeds of the relevant
Granting Party's Security Collateral received by the Administrative Agent
(whether from the relevant Granting Party or otherwise) shall be held by the
Administrative Agent for the benefit of the Secured Parties as collateral
security for the Obligations of the relevant Granting Party (whether matured or
unmatured),

<PAGE>
                                                                              34

and/or then or at any time thereafter may, in the sole discretion of the
Administrative Agent, be applied by the Administrative Agent against the
Obligations of the relevant Granting Party then due and owing in the following
order of priority:

            FIRST, to the payment of all reasonable costs and expenses incurred
      by the Administrative Agent in connection with this Agreement, the Credit
      Agreement, any other Loan Document or any of the Obligations of the
      relevant Granting Party, including, without limitation, all court costs
      and the reasonable fees and expenses of its agents and legal counsel, and
      any other reasonable costs or expenses incurred in connection with the
      exercise by the Administrative Agent of any right or remedy under this
      Agreement, the Credit Agreement, or any other Loan Document; provided,
      however, that, if the relevant Granting Party is a Foreign Subsidiary,
      such Proceeds shall be applied only to the payment of all reasonable costs
      and expenses incurred by the Administrative Agent in connection with the
      Obligations of such Granting Party;

            SECOND, to the ratable satisfaction of all other Obligations of the
      relevant Granting Party; provided, however, that, if the relevant Granting
      Party is a Foreign Subsidiary, such Proceeds shall be applied only to the
      payment of the Obligations of such Granting Party; and

            THIRD, to the relevant Granting Party or its successors or assigns,
      or to whomsoever may be lawfully entitled to receive the same.

            6.6 Code and Other Remedies. If an Event of Default shall occur and
be continuing, the Administrative Agent, on behalf of the Secured Parties, may
exercise, in addition to all other rights and remedies granted to them in this
Agreement and in any other instrument or agreement securing, evidencing or
relating to the Obligations, all rights and remedies of a secured party under
the Code or any other applicable law. Without limiting the generality of the
foregoing, to the extent permitted by applicable law, the Administrative Agent,
without demand of performance or other demand, presentment, protest,
advertisement or notice of any kind (except any notice required by law referred
to below) to or upon any Granting Party or any other Person (all and each of
which demands, defenses, advertisements and notices are hereby waived), may in
such circumstances forthwith (subject to the terms of any documentation
governing any Permitted Receivables Securitization) collect, receive,
appropriate and realize upon the Security Collateral, or any part thereof,
and/or may forthwith sell, lease, assign, give option or options to purchase, or
otherwise dispose of and deliver the Security Collateral or any part thereof (or
contract to do any of the foregoing), in one or more parcels at public or
private sale or sales, at any exchange, broker's board or office of the
Administrative Agent or any other Secured Party or elsewhere upon such terms and
conditions as it may deem advisable and at such prices as it may deem best, for
cash or on credit or for future delivery without assumption of any credit risk.
The Administrative Agent or any other Secured Party shall have the right to the
extent permitted by law, upon any such sale or sales, to purchase the whole or
any part of the Security Collateral so sold, free of any right or equity of
redemption in any Granting Party, which right or equity is hereby waived and
released. Each Granting Party further agrees, at the Administrative Agent's
request (subject to the terms of any documentation governing any Permitted
Receivables Securitization), to assemble the Security Collateral and make it
available to the Administrative

<PAGE>
                                                                              35

Agent at places which the Administrative Agent shall reasonably select, whether
at such Granting Party's premises or elsewhere. The Administrative Agent shall
apply the net proceeds of any action taken by it pursuant to this Section 6.6,
after deducting all reasonable costs and expenses of every kind incurred in
connection therewith or incidental to the care or safekeeping of any of the
Security Collateral or in any way relating to the Security Collateral or the
rights of the Administrative Agent and the other Secured Parties hereunder,
including, without limitation, reasonable attorneys' fees and disbursements, to
the payment in whole or in part of the Obligations of the relevant Granting
Party, in the order of priority specified in Section 6.5 above, and only after
such application and after the payment by the Administrative Agent of any other
amount required by any provision of law, including, without limitation, Section
9-504(1)(c) of the Code, need the Administrative Agent account for the surplus,
if any, to any Granting Party. To the extent permitted by applicable law, each
Granting Party waives all claims, damages and demands it may acquire against the
Administrative Agent or any other Secured Party arising out of the exercise by
them of any rights hereunder, except to the extent arising as a result of the
gross negligence or willful misconduct of the Administrative Agent or such other
Secured Party. If any notice of a proposed sale or other disposition of
Collateral shall be required by law, such notice shall be deemed reasonable and
proper if given at least 10 days before such sale or other disposition.

            6.7 Registration Rights. (a) If the Administrative Agent shall
determine to exercise its right to sell any or all of the Pledged Stock pursuant
to Section 6.6, and if in the reasonable opinion of the Administrative Agent it
is necessary or reasonably advisable to have the Pledged Stock, or that portion
thereof to be sold, registered under the provisions of the Securities Act, the
relevant Pledgor will use its reasonable best efforts to cause the Issuer
thereof to (i) execute and deliver, and use its best efforts to cause the
directors and officers of such Issuer to execute and deliver, all such
instruments and documents, and do or cause to be done all such other acts as may
be, in the opinion of the Administrative Agent, necessary or advisable to
register such Pledged Stock, or that portion thereof to be sold, under the
provisions of the Securities Act, (ii) use its reasonable best efforts to cause
the registration statement relating thereto to become effective and to remain
effective for a period of not more than one year from the date of the first
public offering of such Pledged Stock, or that portion thereof to be sold, and
(iii) make all amendments thereto and/or to the related prospectus which, in the
reasonable opinion of the Administrative Agent, are necessary or advisable, all
in conformity with the requirements of the Securities Act and the rules and
regulations of the Securities and Exchange Commission applicable thereto. Such
Pledgor agrees to cause such Issuer to comply with the provisions of the
securities or "Blue Sky" laws of any and all jurisdictions which the
Administrative Agent shall reasonably designate and to make available to its
security holders, as soon as practicable, an earnings statement (which need not
be audited) which will satisfy the provisions of Section 11(a) of the Securities
Act.

            (b) Such Pledgor recognizes that the Administrative Agent may be
unable to effect a public sale of any or all such Pledged Stock, by reason of
certain prohibitions contained in the Securities Act and applicable state
securities laws or otherwise, and may be compelled to resort to one or more
private sales thereof to a restricted group of purchasers which will be obliged
to agree, among other things, to acquire such securities for their own account
for investment and not with a view to the distribution or resale thereof. Such
Pledgor acknowledges and agrees that any

<PAGE>
                                                                              36

such private sale may result in prices and other terms less favorable than if
such sale were a public sale and, notwithstanding such circumstances, agrees
that any such private sale shall be deemed to have been made in a commercially
reasonable manner. The Administrative Agent shall be under no obligation to
delay a sale of any of the Pledged Stock for the period of time necessary to
permit the Issuer thereof to register such securities for public sale under the
Securities Act, or under applicable state securities laws, even if such Issuer
would agree to do so.

            (c) Such Pledgor agrees to use its reasonable best efforts to do or
cause to be done all such other acts as may be necessary to make such sale or
sales of all or any portion of such Pledged Stock pursuant to this Section 6.7
valid and binding and in compliance with any and all other applicable
Requirements of Law. Such Pledgor further agrees that a breach of any of the
covenants contained in this Section 6.7 will cause irreparable injury to the
Administrative Agent and the other Secured Parties, that the Administrative
Agent and the other Secured Parties have no adequate remedy at law in respect of
such breach and, as a consequence, that each and every covenant contained in
this Section 6.7 shall be specifically enforceable against such Pledgor, and to
the extent permitted by applicable law, such Pledgor hereby waives and agrees
not to assert any defenses against an action for specific performance of such
covenants except for a defense that no Event of Default has occurred and is
continuing under the Credit Agreement.

            6.8 Waiver; Deficiency. Each Granting Party (other than the
Borrowers) waives and agrees not to assert any rights or privileges which it may
acquire under Section 9-112 of the Code, to the extent permitted by applicable
law. Each Granting Party shall remain liable for any deficiency if the proceeds
of any sale or other disposition of the Security Collateral are insufficient to
pay its Obligations and the fees and disbursements of any attorneys employed by
the Administrative Agent or any other Secured Party to collect such deficiency.

                       SECTION 7. THE ADMINISTRATIVE AGENT

            7.1 Administrative Agent's Appointment as Attorney-in-Fact, etc. (a)
Each Granting Party hereby irrevocably constitutes and appoints the
Administrative Agent and any officer or agent thereof, with full power of
substitution, as its true and lawful attorney-in-fact with full irrevocable
power and authority in the place and stead of such Granting Party and in the
name of such Granting Party or in its own name, for the purpose of carrying out
the terms of this Agreement, to take any and all appropriate action and to
execute any and all documents and instruments which may be reasonably necessary
or desirable to accomplish the purposes of this Agreement to the extent
permitted by applicable law. Without limiting the generality of the foregoing,
at any time when an Event of Default has occurred and is continuing (in each
case to the extent permitted by applicable law), (x) each Pledgor hereby gives
the Administrative Agent the power and right, on behalf of such Pledgor, without
notice or assent by such Pledgor, to execute, in connection with any sale
provided for in Section 6.6 or 6.7, any indorsements, assignments or other
instruments of conveyance or transfer with respect to such Pledgor's Pledged
Collateral and (y) each Grantor hereby gives the Administrative Agent the power
and right, on behalf of such Grantor, without notice to or assent by such
Grantor, to do any or all of the following:

<PAGE>
                                                                              37

            (i) subject to the terms of any documentation governing any
      Permitted Receivables Securitization, in the name of such Grantor or its
      own name, or otherwise, take possession of and indorse and collect any
      checks, drafts, notes, acceptances or other instruments for the payment of
      moneys due under any Receivable or Contract of such Grantor or with
      respect to any other Collateral of such Grantor and file any claim or take
      any other action or institute any proceeding in any court of law or equity
      or otherwise deemed appropriate by the Administrative Agent for the
      purpose of collecting any and all such moneys due under any Receivable or
      Contract of such Grantor or with respect to any other Collateral of such
      Grantor whenever payable;

            (ii) in the case of any Copyright, Patent or Trademark constituting
      Collateral of such Grantor, execute and deliver any and all agreements,
      instruments, documents and papers as the Administrative Agent may
      reasonably request to evidence the Administrative Agent's and the other
      Secured Parties' security interest in such Copyright, Patent or Trademark
      and the goodwill and general intangibles of such Grantor relating thereto
      or represented thereby;

            (iii) pay or discharge taxes and Liens levied or placed on or
      threatened against the Collateral of such Grantor, other than Liens
      permitted under this Agreement or the other Loan Documents, effect any
      repairs or any insurance called for by the terms of this Agreement and pay
      all or any part of the premiums therefor and the costs thereof; and

            (iv) subject to the terms of any documentation governing any
      Permitted Receivables Securitization, (1) direct any party liable for any
      payment under any of the Collateral of such Grantor to make payment of any
      and all moneys due or to become due thereunder directly to the
      Administrative Agent or as the Administrative Agent shall direct; (2) ask
      or demand for, collect, and receive payment of and receipt for, any and
      all moneys, claims and other amounts due or to become due at any time in
      respect of or arising out of any Collateral of such Grantor; (3) sign and
      indorse any invoices, freight or express bills, bills of lading, storage
      or warehouse receipts, drafts against debtors, assignments, verifications,
      notices and other documents in connection with any of the Collateral of
      such Grantor; (4) commence and prosecute any suits, actions or proceedings
      at law or in equity in any court of competent jurisdiction to collect the
      Collateral of such Grantor or any portion thereof and to enforce any other
      right in respect of any Collateral of such Grantor; (5) defend any suit,
      action or proceeding brought against such Grantor with respect to any
      Collateral of such Grantor; (6) settle, compromise or adjust any such
      suit, action or proceeding described in clause (5) above and, in
      connection therewith, to give such discharges or releases as the
      Administrative Agent may deem appropriate; (7) subject to any existing
      reserved rights or licenses, assign any Copyright, Patent or Trademark
      constituting Collateral of such Grantor (along with the goodwill of the
      business to which any such Copyright, Patent or Trademark pertains), for
      such term or terms, on such conditions, and in such manner, as the
      Administrative Agent shall in its sole discretion determine; and (8)
      generally, sell, transfer, pledge and make any agreement with respect to
      or otherwise deal with any of the Collateral of such Grantor as fully and
      completely as though the Administrative Agent were the absolute owner
      thereof for all purposes, and do, at the Administrative Agent's option and
      such Grantor's expense, at any

<PAGE>
                                                                              38

      time, or from time to time, all acts and things which the Administrative
      Agent deems necessary to protect, preserve or realize upon the Collateral
      of such Grantor and the Administrative Agent's and the other Secured
      Parties' security interests therein and to effect the intent of this
      Agreement, all as fully and effectively as such Grantor might do.

      Anything in this Section 7.1(a) to the contrary notwithstanding, the
Administrative Agent agrees that it will not exercise any rights under the power
of attorney provided for in this Section 7.1(a) unless an Event of Default shall
have occurred and be continuing.

            (b) If any Granting Party fails to perform or comply with any of its
agreements contained herein, the Administrative Agent, at its option, but
without any obligation so to do, may perform or comply, or otherwise cause
performance or compliance, with such agreement.

            (c) The reasonable expenses of the Administrative Agent incurred in
connection with actions undertaken as provided in this Section 7.1, together
with interest thereon at a rate per annum equal to 1.75% above the rate
applicable to ABR Loans which are Tranche B Term Loans, from the date of payment
by the Administrative Agent to the date reimbursed by the relevant Granting
Party, shall be payable by such Granting Party to the Administrative Agent on
demand.

            (d) Each Granting Party hereby ratifies all that said attorneys
shall lawfully do or cause to be done by virtue hereof. All powers,
authorizations and agencies contained in this Agreement are coupled with an
interest and are irrevocable as to the relevant Granting Party until this
Agreement is terminated as to such Granting Party, and the security interests in
the Security Collateral of such Granting Party created hereby are released.

            7.2 Duty of Administrative Agent. The Administrative Agent's sole
duty with respect to the custody, safekeeping and physical preservation of the
Security Collateral in its possession, under Section 9-207 of the Code or
otherwise, shall be to deal with it in the same manner as the Administrative
Agent deals with similar property for its own account. Neither the
Administrative Agent, any other Secured Party nor any of their respective
officers, directors, employees or agents shall be liable for failure to demand,
collect or realize upon any of the Security Collateral or for any delay in doing
so or shall be under any obligation to sell or otherwise dispose of any Security
Collateral upon the request of any Granting Party or any other Person or (except
as provided in the first sentence of this Section 7.2) to take any other action
whatsoever with regard to the Security Collateral or any part thereof. The
powers conferred on the Administrative Agent and the other Secured Parties
hereunder are solely to protect the Administrative Agent's and the other Secured
Parties' interests in the Security Collateral and shall not impose any duty upon
the Administrative Agent or any other Secured Party to exercise any such powers.
The Administrative Agent and the other Secured Parties shall be accountable only
for amounts that they actually receive as a result of the exercise of such
powers, and neither they nor any of their officers, directors, employees or
agents shall be responsible to any Granting Party for any act or failure to act
hereunder, except for their own gross negligence or willful misconduct.

<PAGE>
                                                                              39

            7.3 Execution of Financing Statements. Pursuant to Section 9-402 of
the Code and any other applicable law, each Granting Party authorizes the
Administrative Agent to file or record financing statements and other filing or
recording documents or instruments with respect to such Granting Party's
Security Collateral without the signature of such Granting Party in such form
and in such offices as the Administrative Agent reasonably determines
appropriate to perfect the security interests of the Administrative Agent under
this Agreement. A photographic or other reproduction of this Agreement shall be
sufficient as a financing statement or other filing or recording document or
instrument for filing or recording in any jurisdiction.

            7.4 Authority of Administrative Agent. Each Granting Party
acknowledges that the rights and responsibilities of the Administrative Agent
under this Agreement with respect to any action taken by the Administrative
Agent or the exercise or non-exercise by the Administrative Agent of any option,
voting right, request, judgment or other right or remedy provided for herein or
resulting or arising out of this Agreement or any amendment, supplement or other
modification of this Agreement shall, as between the Administrative Agent and
the Secured Parties, be governed by the Credit Agreement and by such other
agreements with respect thereto as may exist from time to time among them, but,
as between the Administrative Agent and the Granting Parties, the Administrative
Agent shall be conclusively presumed to be acting as agent for the Secured
Parties with full and valid authority so to act or refrain from acting, and no
Granting Party shall be under any obligation, or entitlement, to make any
inquiry respecting such authority.

            7.5 Right Of Inspection. Upon reasonable written advance notice to
any Grantor and at reasonable intervals, or at any time and from time to time
after the occurrence and during the continuation of an Event of Default, the
Administrative Agent shall have reasonable access during normal business hours
to all the books, correspondence and records of such Granting Party, and the
Administrative Agent and its representatives may examine the same, and to the
extent reasonable, take extracts therefrom and make photocopies thereof, and
such Granting Party agrees to render to the Administrative Agent, at such
Granting Party's reasonable cost and expense, such clerical and other assistance
as may be reasonably requested with regard thereto. The Administrative Agent and
its representatives shall also have the right, upon reasonable advance written
notice to such Granting Party, to enter during normal business hours into and
upon any premises owned, leased or operated by such Granting Party where any of
such Granting Party's Inventory, Equipment or Vehicles is located for the
purpose of inspecting the same, observing its use or otherwise protecting its
interests therein.

                            SECTION 8. MISCELLANEOUS

            8.1 Amendments in Writing. Except as otherwise provided in
subsection 11.1 of the Credit Agreement, none of the terms or provisions of this
Agreement may be waived, amended, supplemented or otherwise modified except by a
written instrument executed by each affected Granting Party and the
Administrative Agent, provided, that any provision of this Agreement imposing
obligations on any Granting Party may be waived by a written instrument executed
by the Administrative Agent.

<PAGE>
                                                                              40

            8.2 Notices. All notices, requests and demands to or upon the
Administrative Agent or any Granting Party hereunder shall be effected in the
manner provided for in subsection 11.2 of the Credit Agreement; provided that
any such notice, request or demand to or upon any Guarantor shall be addressed
to such Guarantor at its notice address set forth on Schedule 1, unless and
until such Guarantor shall change such address by notice to the Administrative
Agent given in accordance with subsection 11.2 of the Credit Agreement.

            8.3 No Waiver by Course of Conduct; Cumulative Remedies. Neither the
Administrative Agent nor any other Secured Party shall by any act (except by a
written instrument pursuant to Section 8.1), delay, indulgence, omission or
otherwise be deemed to have waived any right or remedy hereunder or to have
acquiesced in any Default or Event of Default. No failure to exercise, nor any
delay in exercising, on the part of the Administrative Agent or any other
Secured Party, any right, power or privilege hereunder shall operate as a waiver
thereof. No single or partial exercise of any right, power or privilege
hereunder shall preclude any other or further exercise thereof or the exercise
of any other right, power or privilege. A waiver by the Administrative Agent or
any other Secured Party or any Granting Party of any right or remedy hereunder
on any one occasion shall not be construed as a bar to any right or remedy which
the Administrative Agent or such other Secured Party or such Granting Party
would otherwise have on any future occasion. The rights and remedies herein
provided are cumulative, may be exercised singly or concurrently and are not
exclusive of any other rights or remedies provided by law.

            8.4 Enforcement Expenses; Indemnification. (a) Each Guarantor agrees
to pay or reimburse each Secured Party and the Administrative Agent for all
their respective reasonable costs and expenses incurred in collecting against
such Guarantor under the guarantee contained in Section 2 or otherwise enforcing
or preserving any rights under this Agreement against such Guarantor and the
other Loan Documents to which such Guarantor is a party, including, without
limitation, the reasonable fees and disbursements of one firm of counsel and
local counsel to the Secured Parties and the Administrative Agent.

            (b) Each Guarantor agrees to pay, and to save the Administrative
Agent and the Secured Parties harmless from, (x) any and all liabilities with
respect to, or resulting from any delay in paying, any and all stamp, excise,
sales or other similar taxes which may be payable or determined to be payable
with respect to any of the Security Collateral and (y) any and all liabilities,
obligations, losses, damages, penalties, actions, judgments, suits, costs,
expenses or disbursements of any kind or nature whatsoever with respect to the
execution, delivery, enforcement, performance and administration of this
Agreement (collectively, the "indemnified liabilities"), in each case to the
extent any of the Borrowers would be required to do so pursuant to Section 11.5
of the Credit Agreement, and in any event excluding any taxes or other
indemnified liabilities arising from gross negligence or willful misconduct of
the Administrative Agent or any Secured Party or any of their respective agents,
officers, directors and successors.

            (c) The agreements in this Section 8.4 shall survive repayment of
the Obligations and all other amounts payable under the Credit Agreement and the
other Loan Documents.

<PAGE>
                                                                              41

            8.5 Successors and Assigns. This Agreement shall be binding upon and
shall inure to the benefit of the Granting Parties, the Administrative Agent and
the Secured Parties and their respective successors and assigns; provided that
no Granting Party may assign, transfer or delegate any of its rights or
obligations under this Agreement without the prior written consent of the
Administrative Agent.

            8.6 Set-Off. Each Guarantor hereby irrevocably authorizes the
Administrative Agent and each other Secured Party at any time and from time to
time without notice to such Guarantor, any other Guarantor or any Borrower, any
such notice being expressly waived by each Guarantor and by each Borrower, to
the extent permitted by applicable law, upon the occurrence and during the
continuance of an Event of Default under Section 9(a) of the Credit Agreement
and any amount remaining unpaid after it becomes due and payable by such
Guarantor hereunder, to set-off and appropriate and apply against any such
amount any and all deposits (general or special, time or demand, provisional or
final), in any currency, and any other credits, indebtedness or claims, in any
currency, in each case whether direct or indirect, absolute or contingent,
matured or unmatured, at any time held or owing by the Administrative Agent or
such other Secured Party to or for the credit or the account of such Guarantor,
or any part thereof in such amounts as the Administrative Agent or such other
Secured Party may elect. The Administrative Agent and each other Secured Party
shall notify such Guarantor promptly of any such set-off and the application
made by the Administrative Agent or such other Secured Party of the proceeds
thereof; provided that the failure to give such notice shall not affect the
validity of such set-off and application. The rights of the Administrative Agent
and each other Secured Party under this Section 8.6 are in addition to other
rights and remedies (including, without limitation, other rights of set-off)
which the Administrative Agent or such other Secured Party may have.

            8.7 Counterparts. This Agreement may be executed by one or more of
the parties to this Agreement on any number of separate counterparts, and all of
said counterparts taken together shall be deemed to constitute one and the same
instrument.

            8.8 Severability. Any provision of this Agreement which is
prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction,
be ineffective to the extent of such prohibition or unenforceability without
invalidating the remaining provisions hereof, and any such prohibition or
unenforceability in any jurisdiction shall not invalidate or render
unenforceable such provision in any other jurisdiction; provided that, with
respect to any Pledged Collateral of any Foreign Subsidiary Holdco or any
Foreign Subsidiary Borrower and any Security Collateral of any Foreign
Subsidiary Borrower, all rights, powers and remedies provided in this Agreement
may be exercised only to the extent that they do not violate any provision of
any law, rule or regulation of any Governmental Authority applicable to any such
Collateral or affecting the legality, validity or enforceability of any of the
provisions of this Agreement against any such Foreign Subsidiary Holdco or
Foreign Subsidiary Borrower (such laws, rules or regulations, "Applicable Law")
and are intended to be limited to the extent necessary so that they will not
render this Agreement invalid, unenforceable or not entitled to be recorded,
registered or filed under the provisions of any Applicable Law.

<PAGE>
                                                                              42

            8.9 Section Headings. The Section headings used in this Agreement
are for convenience of reference only and are not to affect the construction
hereof or be taken into consideration in the interpretation hereof.

            8.10 Integration. This Agreement and the other Loan Documents
represent the entire agreement of the Granting Parties, the Administrative Agent
and the other Secured Parties with respect to the subject matter hereof, and
there are no promises, undertakings, representations or warranties by the
Granting Parties, the Administrative Agent or any other Secured Party relative
to subject matter hereof not expressly set forth or referred to herein or in the
other Loan Documents.

            8.11 GOVERNING LAW. THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF
THE PARTIES HEREUNDER SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN
ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.

            8.12 Submission To Jurisdiction; Waivers. Each party hereto hereby
irrevocably and unconditionally:

            (a) submits for itself and its property in any legal action or
      proceeding relating to this Agreement and the other Loan Documents to
      which it is a party, or for recognition and enforcement of any judgement
      in respect thereof, to the non-exclusive general jurisdiction of the
      courts of the State of New York, the courts of the United States of
      America for the Southern District of New York, and appellate courts from
      any thereof;

            (b) consents that any such action or proceeding may be brought in
      such courts and waives any objection that it may now or hereafter have to
      the venue of any such action or proceeding in any such court or that such
      action or proceeding was brought in an inconvenient forum and agrees not
      to plead or claim the same;

            (c) agrees that service of process in any such action or proceeding
      may be effected by mailing a copy thereof by registered or certified mail
      (or any substantially similar form of mail), postage prepaid, to such
      party at its address referred to in Section 8.2 (or, in the case of any
      Foreign Subsidiary Borrower, as specified in subsection 11.12(b) of the
      Credit Agreement) or at such other address of which the Administrative
      Agent (in the case of any other party hereto) or the Parent Borrower (in
      the case of the Administrative Agent) shall have been notified pursuant
      thereto;

            (d) agrees that nothing herein shall affect the right to effect
      service of process in any other manner permitted by law or shall limit the
      right to sue in any other jurisdiction; and

            (e) waives, to the maximum extent not prohibited by law, any right
      it may have to claim or recover in any legal action or proceeding referred
      to in this Section any punitive damages.

<PAGE>
                                                                              43

            8.13 Acknowledgments. Each Guarantor hereby acknowledges that

            (a) it has been advised by counsel in the negotiation, execution and
      delivery of this Agreement and the other Loan Documents to which it is a
      party;

            (b) neither the Administrative Agent nor any other Secured Party has
      any fiduciary relationship with or duty to any Guarantor arising out of or
      in connection with this Agreement or any of the other Loan Documents, and
      the relationship between the Guarantors, on the one hand, and the
      Administrative Agent and the Secured Parties, on the other hand, in
      connection herewith or therewith is solely that of debtor and creditor;
      and

            (c) no joint venture is created hereby or by the other Loan
      Documents or otherwise exists by virtue of the transactions contemplated
      hereby and thereby among the Secured Parties or among the Guarantors and
      the Secured Parties.

            8.14 WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY IRREVOCABLY AND
UNCONDITIONALLY WAIVES TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING RELATING
TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT AND FOR ANY COUNTERCLAIM THEREIN.

            8.15 Additional Granting Parties. Each new Domestic Subsidiary of
the Parent Borrower that is required to become a party to this Agreement
pursuant to subsection 7.10 or 8.16 of the Credit Agreement shall become a
Granting Party for all purposes of this Agreement upon execution and delivery by
such Subsidiary of an Assumption Agreement in the form of Annex 1 hereto, and
each Foreign Subsidiary Borrower that is required to become a party to this
Agreement pursuant to subsection 11.1(b)(i) of the Credit Agreement shall become
a Granting Party for all purposes of this Agreement upon execution and delivery
by such Borrower of a Joinder Agreement in the form of Exhibit K to the Credit
Agreement.

            8.16 Releases. (a) At such time as the Loans, the Reimbursement
Obligations and the other Obligations then due and owing shall have been paid in
full in cash, the Commitments have been terminated and no Letters of Credit
shall be outstanding, all Security Collateral shall be released from the Liens
created hereby, and this Agreement and all obligations (other than those
expressly stated to survive such termination) of the Administrative Agent and
each Granting Party hereunder shall terminate, all without delivery of any
instrument or performance of any act by any party, and all rights to the
Security Collateral shall revert to the Granting Parties. At the request and
sole expense of any Granting Party following any such termination, the
Administrative Agent shall deliver to such Granting Party any Security
Collateral held by the Administrative Agent hereunder, and execute and deliver
to such Granting Party such documents (including without limitation Uniform
Commercial Code termination statements) as such Granting Party shall reasonably
request to evidence such termination.

            (b) In connection with any sale or other disposition of Security
Collateral permitted by the Credit Agreement (including, without limitation, any
Permitted Receivables Securitization), the Lien pursuant to this Agreement on
such sold or disposed of Security

<PAGE>
                                                                              44

Collateral shall be automatically released. In connection with the release of
any Guarantor from its Guarantee or the release of the Security Collateral
subject to such sale or other disposition, the Administrative Agent shall
execute and deliver to the relevant Granting Party (at the sole cost and expense
of such Granting Party) all releases or other documents (including without
limitation Uniform Commercial Code termination statements) necessary or
reasonably desirable for the release of the Liens created hereby on such
Security Collateral and, if applicable, such Guarantee as such Granting Party
may reasonably request.

<PAGE>
                                                                              45

            IN WITNESS WHEREOF, each of the undersigned has caused this
Guarantee and Collateral Agreement to be duly executed and delivered as of the
date first above written.

                             NA HOLDING CORPORATION

                             By:  /s/ R. Barry Uber
                                  -----------------------------------
                                  Name:  R. Barry Uber
                                  Title:

<PAGE>

NORTH AMERICAN VAN LINES, INC.

By:  /s/ R. Barry Uber
     -----------------------------------
     Name:  R. Barry Uber
     Title:

FLEET INSURANCE MANAGEMENT, INC.

By:  /s/ R. Barry Uber
     -----------------------------------
     Name:  R. Barry Uber
     Title:

FRONTRUNNER WORLDWIDE, INC.

By:  /s/ R. Barry Uber
     -----------------------------------
     Name:  R. Barry Uber
     Title:

GREAT FALLS NORTH AMERICAN, INC.

By:  /s/ Ralph A. Ford
     -----------------------------------
     Name:  Ralph A. Ford
     Title:

NACAL, INC.

By:  /s/ R. Barry Uber
     -----------------------------------
     Name:  R. Barry Uber
     Title:

<PAGE>

NAVTRANS INTERNATIONAL FREIGHT
 FORWARDING, INC.

By:  /s/ R. Barry Uber
     -----------------------------------
     Name:  R. Barry Uber
     Title:

NORTH AMERICAN DISTRIBUTION
 SYSTEMS, INC.

By:  /s/ R. Barry Uber
     -----------------------------------
     Name:  R. Barry Uber
     Title:

NORTH AMERICAN LOGISTICS, LTD.

By:  /s/ R. Barry Uber
     -----------------------------------
     Name:  R. Barry Uber
     Title:

NORTH AMERICAN VAN LINES OF TEXAS,
 INC.

By:  /s/ R. Barry Uber
     -----------------------------------
     Name:  R. Barry Uber
     Title:

RELOCATION MANAGEMENT SYSTEMS,
 INC.

By:  /s/ Ralph A. Ford
     -----------------------------------
     Name:  Ralph A. Ford
     Title:

A RELOCATION SOLUTIONS MANAGEMENT COMPANY

By:  /s/ Robert J. Henry
     -----------------------------------
     Name:  Robert J. Henry
     Title: Secretary

<PAGE>

ALLIED FREIGHT FORWARDING, INC.

By:  /s/ Robert J. Henry
     -----------------------------------
     Name:  Robert J. Henry
     Title: Secretary

ALLIED VAN LINES, INC.

By:  /s/ Robert J. Henry
     -----------------------------------
     Name:  Robert J. Henry
     Title: Secretary

ALLIED INTERNATIONAL N.A., INC.

By:  /s/ Robert J. Henry
     -----------------------------------
     Name:  Robert J. Henry
     Title: Vice President

ALLIED VAN LINES TERMINAL COMPANY

By:  /s/ Robert J. Henry
     -----------------------------------
     Name:  Robert J. Henry
     Title: Secretary

VANGUARD INSURANCE AGENCY, INC.

By:  /s/ Robert J. Henry
     -----------------------------------
     Name:  Robert J. Henry
     Title: Secretary

<PAGE>

Acknowledged and Agreed to as
of the date hereof by:

THE CHASE MANHATTAN BANK,
as Administrative Agent

By:  /s/ Richard W. Duker
     -----------------------------------
     Name:  Richard W. Duker
     Title: Vice President

<PAGE>

                                                                      Schedule 1

                         NOTICE ADDRESSES OF GUARANTORS

<PAGE>

                                                                      Schedule 2

                        DESCRIPTION OF PLEDGED SECURITIES

Pledged Stock:
---------------------   -----------------   -------------------   --------------
                                             Stock Certificate
          Issuer          Class of Stock             No.           No. of Shares

Pledged Notes:

          Issuer            Payee                Principal Amount
        ---------        -----------            ------------------

<PAGE>

                                                                      Schedule 3

       LOCATION OF JURISDICTION OF ORGANIZATION AND CHIEF EXECUTIVE OFFICE
                            OR SOLE PLACE OF BUSINESS

          Granting Party                          Location
          --------------                          --------

<PAGE>

                                                                      Schedule 4

                       LOCATION OF INVENTORY AND EQUIPMENT

          Granting Party                          Locations
          --------------                          ---------

<PAGE>

                                                                      Schedule 5

                        COPYRIGHTS AND COPYRIGHT LICENSES

                           PATENTS AND PATENT LICENSES

                        TRADEMARKS AND TRADEMARK LICENSES

<PAGE>

                                                                      Schedule 6

                              EXISTING PRIOR LIENS

<PAGE>

                                                                      Schedule 7

                                   RECEIVABLES

<PAGE>

                                                                      Schedule 8

                                    CONTRACTS

1.    Acquisition Agreement, dated as of September 14, 1999, between NA Holding
      Corporation, a Delaware corporation, and NFC plc, a company organized
      under the laws of England and Wales.

2.    Software License Agreement, dated as of March 27, 1998, between Norfolk
      Southern Corporation, a Virginia corporation, NS Transportation Brokerage
      Corporation, a Delaware corporation and North American Van Lines, Inc., a
      Delaware corporation, relating to the Customized Options in Logistics
      Technology software.

<PAGE>

                                                                      Schedule 9

                                    VEHICLES

<PAGE>

                         ACKNOWLEDGMENT AND CONSENT(1)

      The undersigned hereby acknowledges receipt of a copy of the Guarantee and
Collateral Agreement dated as of ______ __, 1999 (the "Agreement"), made by the
Granting Parties (as defined therein) named therein for the benefit of The Chase
Manhattan Bank, as Administrative Agent. The undersigned agrees in favor of the
Administrative Agent for the ratable benefit of the Secured Parties (as defined
therein) as follows:

      1. The undersigned will be bound by the terms of the Agreement and will
comply with such terms insofar as such terms are applicable to the undersigned.

      2. The undersigned will notify the Administrative Agent promptly in
writing of the occurrence of any of the events described in Section 5.3.1 of the
Agreement.

      3. The terms of Sections 6.3(a) and 6.7 of the Agreement shall apply to
it, mutatis mutandis, with respect to all actions that may be required of it
pursuant to Section 6.3(a) and 6.7 of the Agreement.

                                    [NAME OF ISSUER]

                                    By_______________________________

                                    Title____________________________

                                    Address for Notices:

                                    _________________________________

                                    _________________________________

                                    Fax: ____________________________

----------
(1) This consent is necessary only with respect to any Issuer of Pledged Stock
which is not also a Grantor.

<PAGE>

                                                                      Annex 1 to
                                              Guarantee and Collateral Agreement

            ASSUMPTION AGREEMENT, dated as of _________ __, 199_, made by
______________________________, a ______________ corporation (the "Additional
Granting Party"), in favor of THE CHASE MANHATTAN BANK, as collateral agent and
administrative agent (in such capacities, the "Administrative Agent") for the
banks and other financial institutions (the "Lenders") from time to time parties
to the Credit Agreement referred to below and the other Secured Parties (as
defined below). All capitalized terms not defined herein shall have the meaning
ascribed to them in the Guarantee and Collateral Agreement referred to below, or
if not defined therein, in the Credit Agreement.

                              W I T N E S S E T H :

            WHEREAS, North American Van Lines, Inc., a Delaware corporation (the
"Parent Borrower"), certain foreign subsidiaries of the Parent Borrower from
time to time parties to the Credit Agreement referred to below (the "Foreign
Subsidiary Borrowers"; together with the Parent Borrower, collectively, the
"Borrowers"), the Lenders, the Administrative Agent, The Bank of New York, as
documentation agent, and Banc of America Securities LLC, as syndication agent,
are parties to a Credit Agreement, dated as of November 19, 1999 (as amended,
supplemented or otherwise modified from time to time, the "Credit Agreement");

            WHEREAS, in connection with the Credit Agreement, the Borrowers, NA
Holding Corporation ("Holding") and the other Granting Parties named therein are
parties to the Guarantee and Collateral Agreement, dated as of November 19, 1999
(as amended, supplemented or otherwise modified from time to time, the
"Guarantee and Collateral Agreement") in favor of the Administrative Agent, for
the ratable benefit of the Secured Parties (as defined in the Guarantee and
Collateral Agreement);

            WHEREAS, the Additional Granting Party is a member of an affiliated
group of companies that includes Holding, the Borrowers and the other Granting
Parties to the Guarantee and Collateral Agreement; the proceeds of the
extensions of credit to the Borrowers under the Credit Agreement will be used in
part to enable such Borrowers to make valuable transfers to one or more of the
other Granting Parties (including the Additional Granting Party) in connection
with the operation of their respective businesses; and the Borrowers and the
other Granting Parties (including the Additional Granting Party) are engaged in
related businesses, and each such Granting Party (including the Additional
Granting Party) will derive substantial direct and indirect benefit from the
making of the extensions of credit under the Credit Agreement;

            WHEREAS, the Credit Agreement requires the Additional Granting Party
to become a party to the Guarantee and Collateral Agreement; and

            WHEREAS, the Additional Granting Party has agreed to execute and
deliver this Assumption Agreement in order to become a party to the Guarantee
and Collateral Agreement;

<PAGE>

                                                                               2

            NOW, THEREFORE, IT IS AGREED:

            1. Guarantee and Collateral Agreement. By executing and delivering
this Assumption Agreement, the Additional Granting Party, as provided in Section
8.15 of the Guarantee and Collateral Agreement, hereby becomes a party to the
Guarantee and Collateral Agreement as a Granting Party thereunder with the same
force and effect as if originally named therein as a Guarantor [, Grantor and
Pledgor] [and Grantor] [and Pledgor](1) and, without limiting the generality of
the foregoing, hereby expressly assumes all obligations and liabilities of a
Guarantor [, Grantor and Pledgor] [and Grantor] [and Pledgor](2) thereunder. The
information set forth in Annex 1-A hereto is hereby added to the information set
forth in Schedules ____________ to the Guarantee and Collateral Agreement, and
such Schedules are hereby amended and modified to include such information. The
Additional Granting Party hereby represents and warrants that each of the
representations and warranties of such Additional Grantor, in its capacities as
a Guarantor [, Grantor and Pledgor] [and Grantor] [and Pledgor],(3) contained in
Section 4 of the Guarantee and Collateral Agreement is true and correct in all
material respects on and as the date hereof (after giving effect to this
Assumption Agreement) as if made on and as of such date.

            2. Governing Law. THIS ASSUMPTION AGREEMENT AND THE RIGHTS AND
OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY, AND CONSTRUED AND
INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.

            IN WITNESS WHEREOF, the undersigned has caused this Assumption
Agreement to be duly executed and delivered as of the date first above written.

                                    [ADDITIONAL GRANTING PARTY]

----------
(1)   Indicate the capacities in which the Additional Granting Party is becoming
      a Granting Party.

(2)   Indicate the capacities in which the Additional Granting Party is becoming
      a Granting Party.

(3)   Indicate the capacities in which the Additional Granting Party is becoming
      a Granting Party.

<PAGE>

                                                                               3

                                    By: _______________________________
                                        Name:
                                        Title:

<PAGE>

                                                                  Annex 1-A to
                                                          Assumption Agreement

<PAGE>

                                TABLE OF CONTENTS
                                                                            Page

SECTION 1.  DEFINED TERMS....................................................2
      1.1  Definitions.......................................................2
      1.2  Other Definitional Provisions.....................................8

SECTION 2.  GUARANTEE........................................................8
      2.1  Guarantee.........................................................8
      2.2  Right of Contribution.............................................9
      2.3  No Subrogation....................................................9
      2.4  Amendments, etc. with respect to the Borrower Obligations........10
      2.5  Guarantee Absolute and Unconditional.............................10
      2.6  Reinstatement....................................................11
      2.7  Payments.........................................................11

SECTION 3.  GRANT OF SECURITY INTEREST......................................12
      3.1  Collateral.......................................................12
      3.2  Pledged Collateral...............................................13
      3.3  Certain Exceptions...............................................13

SECTION 4.  REPRESENTATIONS AND WARRANTIES..................................14
      4.1  Representations and Warranties of Each Guarantor.................14
      4.2  Representations and Warranties of Each Grantor...................14
            4.2.1  Title; No Other Liens....................................14
            4.2.2  Perfected First Priority Liens...........................14
            4.2.3  Chief Executive Office...................................16
            4.2.4  Inventory and Equipment..................................16
            4.2.5  Farm Products............................................16
            4.2.6  Receivables..............................................16
            4.2.7  Intellectual Property....................................17
            4.2.8  Contracts................................................17
            4.2.9  Vehicles.................................................18
      4.3  Representations and Warranties of Each Pledgor...................18

SECTION 5.  COVENANTS.......................................................19
      5.1  Covenants of Each Guarantor......................................19
      5.2  Covenants of Each Grantor........................................20
            5.2.1  Delivery of Instruments and Chattel Paper................20
            5.2.2  Maintenance of Insurance.................................20
            5.2.3  Payment of Obligations...................................20
            5.2.4  Maintenance of Perfected Security Interest;
                   Further Documentation ...................................21
            5.2.5  Changes in Locations, Name, etc. ........................21
            5.2.6  Notices..................................................22
            5.2.7  Pledged Securities.......................................22

                                       i
<PAGE>

            5.2.8  Receivables..............................................22
            5.2.9  Maintenance of Records...................................22
            5.2.10  Intellectual Property...................................23
            5.2.11  Protection of Trade Secrets.............................25
            5.2.12  Contracts...............................................25
            5.2.13  Vehicles................................................25
      5.3  Covenants of Each Pledgor........................................26
      5.4  Covenants of Holding.............................................27
            5.4.1  Capital Contributions to the Parent Borrower.............27
            5.4.2  Limitation on Activities of Holding......................28

SECTION 6.  REMEDIAL PROVISIONS.............................................31
      6.1  Certain Matters Relating to Receivables..........................31
      6.2  Communications with Obligors; Grantors Remain Liable.............32
      6.3  Pledged Stock....................................................32
      6.4  Proceeds to be Turned Over To Administrative Agent...............33
      6.5  Application of Proceeds..........................................34
      6.6  Code and Other Remedies..........................................34
      6.7  Registration Rights..............................................35
      6.8  Waiver; Deficiency...............................................36

SECTION 7.  THE ADMINISTRATIVE AGENT........................................36
      7.1  Administrative Agent's Appointment as Attorney-in-Fact, etc......36
      7.2  Duty of Administrative Agent.....................................38
      7.3  Execution of Financing Statements................................39
      7.4  Authority of Administrative Agent................................39
      7.5  Right Of Inspection..............................................39

SECTION 8.  MISCELLANEOUS...................................................40
      8.1  Amendments in Writing............................................40
      8.2  Notices..........................................................40
      8.3  No Waiver by Course of Conduct; Cumulative Remedies..............40
      8.4  Enforcement Expenses; Indemnification............................40
      8.5  Successors and Assigns...........................................41
      8.6  Set-Off..........................................................41
      8.7  Counterparts.....................................................41
      8.8  Severability.....................................................41
      8.9  Section Headings.................................................42
      8.10  Integration.....................................................42
      8.11  GOVERNING LAW...................................................42
      8.12  Submission To Jurisdiction; Waivers.............................42
      8.13  Acknowledgments.................................................43
      8.14  WAIVER OF JURY TRIAL............................................43
      8.15  Additional Granting Parties.....................................43
      8.16  Releases........................................................43

                                       ii
<PAGE>

                                      iii
<PAGE>

                                                                            Page

                                       iv
<PAGE>

                                                                            Page

SCHEDULES

1     Notice Addresses of Guarantors
2     Description of Pledged Securities
3     Location of Jurisdiction of Organization and Chief Executive Office or
          Sole Place of Business
4     Location of Inventory and Equipment
5     Copyrights and Copyright Licenses; Patents and Patent Licenses; Trademarks
          and Trademark Licenses
6     Existing Prior Liens
7     Location of Records Concerning Receivables
8     Contracts
9     Vehicles

ANNEX

1     Assumption Agreement

                                       v
<PAGE>

                                SCHEDULE 9

                                 Vehicles
                                 --------

                             See attached list.

<PAGE>

PAGE        1

LIST OF NORTH AMERICAN VAN LINES TITLED EQUIPMENT AS OF 10/30/99

<TABLE>
<CAPTION>
                             LIC                            SERIAL                                                    TITLE
UNIT          TYPE           ST        YR        MAKE       NUMBER                   DIV        SUB        FC         NUMBER
----          ----           ---       --        ----       ------                   ---        ---        --         ------
<S>           <C>            <C>       <C>       <C>        <C>                      <C>        <C>        <C>        <C>
1A5371        TRAILER        IN        95        KTY        1KKVE2811SL103483        HV         CO         CO         98050470300
1A5372        TRAILER        IN        95        KTY        1KKVE2813SL103484        HV         CO         CO         98050470302
1A5373        TRAILER        IN        95        KTY        1KKVE2815SL103485        HV         CO         CO         98050470303
1A5374        TRAILER        IN        95        KTY        1KKVE2817SL103486        HV         CO         CO         98050470311
1A5375        TRAILER        IN        95        KTY        1KKVE2819SL103487        HV         CO         CO         98050470312
1A5376        TRAILER        IN        95        KTY        1KKVE2810SL103488        HV         CO         CO         98050470314
1A5377        TRAILER        IN        95        KTY        1KKVE2812SL103489        HV         CO         CO         98050470316
1A5378        TRAILER        IN        95        KTY        1KKVE2819SL103490        HV         CO         CO         98050470318
1A5379        TRAILER        IN        95        KTY        1KKVE2810SL103491        HV         CO         CO         98050470319
1A5380        TRAILER        IN        95        KTY        1KKVE2812SL103492        HV         CO         CO         98050470321
1A5381        TRAILER        IN        95        KTY        1KKVE2814SL103493        HV         CO         CO         98050470328
1A5382        TRAILER        IN        95        KTY        1KKVE2816SL103494        HV         CO         CO         98050470333
1A5383        TRAILER        IN        95        KTY        1KKVE2818SL103495        HV         CO         CO         98050470334
1A5384        TRAILER        IN        95        KTY        1KKVE281XSL103496        HV         CO         CO         98050470336
1A5385        TRAILER        IN        95        KTY        1KKVE2811SL103497        HV         CO         CO         98050470338
1A5386        TRAILER        IN        95        KTY        1KKVE2813SL103498        HV         CO         CO         98050470340
1A5387        TRAILER        IN        95        KTY        1KKVE2815SL103499        HV         CO         CO         98050470342
1A5388        TRAILER        IN        95        KTY        1KKVE2818SL103500        HV         CO         CO         98050470344
1A5389        TRAILER        IN        95        KTY        1KKVE281XSL103501        HV         CO         CO         98050470346
1A5390        TRAILER        IN        95        KTY        1KKVE2811SL103502        HV         CO         CO         98050470347
1A5391        TRAILER        IN        95        KTY        1KKVE2813SL103503        HV         CO         CO         98050470349
1A5392        TRAILER        IN        95        KTY        1KKVE2815SL103504        HV         CO         CO         98050470351
1A5393        TRAILER        IN        95        KTY        1KKVE2817SL103505        HV         CO         CO         98050470352
1A5394        TRAILER        IN        95        KTY        1KKVE2819SL103506        HV         CO         CO         98050470354
1A5396        TRAILER        IN        95        KTY        1KKVE2810SL103507        HV         CO         CO         98050470356
1A5398        TRAILER        IN        95        KTY        1KKVE2814SL103509        HV         CO         CO         98050470357
1A5399        TRAILER        IN        95        KTY        1KKVE2810SL103510        HV         CO         CO         98050470362
1A5400        TRAILER        IN        95        KTY        1KKVE2812SL103511        HV         CO         CO         98050470363
1A5401        TRAILER        IN        95        KTY        1KKVE2814SL103512        HV         CO         CO         98050470364
1A5402        TRAILER        IN        95        KTY        1KKVE2816SL103513        HV         CO         CO         98050470365
1A5403        TRAILER        IN        95        KTY        1KKVE2818SL103514        HV         CO         CO         98050470366
1A5404        TRAILER        IN        95        KTY        1KKVE281XSL103515        HV         CO         CO         98050470367
1A5405        TRAILER        IN        95        KTY        1KKVE2811SL103516        HV         CO         CO         98050470369
1A5406        TRAILER        IN        95        KTY        1KKVE2813SL103517        HV         CO         CO         98050470371
1A5407        TRAILER        IN        95        KTY        1KKVE2815SL103518        HV         CO         CO         98050470373
1A5408        TRAILER        IN        95        KTY        1KKVE2817SL103519        HV         CO         CO         98050470375
1A5409        TRAILER        IN        95        KTY        1KKVE2813SL103520        HV         CO         CO         98050470377
1A5790        TRAILER        IN        96        KTY        1KKVE2811TL105476        HV         CO         CO         98050470379
100124        TRAILER        IN        86        STU        1TRBA2886GR000032        RS         CO         CO         98050470381
11A402        TRAILER        IN        83        KTY        1KKVE4828DL000200        RS         CO         CO         98050470389
11A403        TRAILER        IN        83        KTY        1KKVE482XDL000201        RS         CO         CO         98050470390
11A404        TRAILER        IN        83        KTY        1KKVE4821DL000202        RS         CO         CO         98050470392
11A406        TRAILER        IN        83        KTY        1KKVE4825DL000204        RS         CL         LA         98050470395
11A413        TRAILER        IN        83        KTY        1KKVE4822DL000211        RS         CO         CO         98050470397
11A414        TRAILER        IN        83        KTY        1KKVE4824DL000212        RS         CO         CO         98050470399
11A415        TRAILER        IN        83        KTY        1KKVE4826DL000213        RS         CO         CO         98050470400
11A416        TRAILER        IN        83        KTY        1KKVE4828DL000214        RS         CO         CO         98050470401
11A418        TRAILER        IN        83        KTY        1KKVE4821DL000216        RS         CL         LA         98050470403
11A419        TRAILER        IN        83        KTY        1KKVE4823DL000217        RS         CL         LA         98050470409
11A420        TRAILER        IN        83        KTY        1KKVE4825DL000218        RS         CL         LA         98050470411

</TABLE>

<PAGE>

PAGE        2

LIST OF NORTH AMERICAN VAN LINES TITLED EQUIPMENT AS OF 10/30/99

<TABLE>
<CAPTION>
                             LIC                            SERIAL                                                    TITLE
UNIT          TYPE           ST        YR        MAKE       NUMBER                   DIV        SUB        FC         NUMBER
----          ----           ---       --        ----       ------                   ---        ---        --         ------
<S>           <C>            <C>       <C>       <C>        <C>                      <C>        <C>        <C>        <C>
11A422        TRAILER        IN         83        KTY       1KKVE4823DL000220        RS         CL         LA         98050470413
11A691        TRAILER        IN         84        KTY       1KKVE4826EL069758        RS         CL         LA         98050470416
11A693        TRAILER        IN         84        KTY       1KKVE4824EL069760        RS         CL         LA         98050470417
11A694        TRAILER        IN         84        KTY       1KKVE4826EL069761        RS         CL         LA         98050470419
11B001        TRAILER        IN         84        KTY       1KKVE4521EL069669        RS         CO         CO         98050470420
11B010        TRAILER        IN         84        KTY       1KKVE4522EL069678        RS         CO         CO         98050470421
11B015        TRAILER        IN         84        KTY       1KKVE4526EL069683        RS         CO         CO         98050470422
11B021        TRAILER        IN         84        KTY       1KKVE4527EL069689        RS         CO         CO         98050470423
11B022        TRAILER        IN         84        KTY       1KKVE4523EL069690        RS         CL         LA         98050470424
11B026        TRAILER        IN         84        KTY       1KKVE4520EL069694        RS         CO         CO         98050470425
11B027        TRAILER        IN         84        KTY       1KKVE4522EL069695        RS         CL         LA         98050470427
11B034        TRAILER        IN         84        KTY       1KKVE4526EL069702        RS         CO         CO         98050470428
11B036        TRAILER        IN         84        KTY       1KKVE452XEL069704        RS         CL         LA         98050470429
11B038        TRAILER        IN         84        KTY       1KKVE4523EL069706        RS         CO         CO         98050470431
11B039        TRAILER        IN         84        KTY       1KKVE4525EL069707        RS         CO         CO         98050470432
11B042        TRAILER        IN         84        KTY       1KKVE4525EL069710        RS         CO         CO         98050470434
11B044        TRAILER        IN         84        KTY       1KKVE4529EL069712        RS         CO         CO         98050470435
11B055        TRAILER        IN         84        KTY       1KKVE4523EL069723        RS         CO         CO         98050470437
11B056        TRAILER        IN         84        KTY       1KKVE4525EL069724        RS         CL         LA         98050470440
11B061        TRAILER        IN         84        KTY       1KKVE4524EL069729        RS         CO         CO         98050470442
11B065        TRAILER        IN         84        KTY       1KKVE4522EL069762        RS         CO         CO         98050470443
11B068        TRAILER        IN         84        KTY       1KKVE4528EL069765        RS         CO         CO         98050470445
11B070        TRAILER        IN         84        KTY       1KKVE4521EL069767        RS         CO         CO         98050470446
11B071        TRAILER        IN         84        KTY       1KKVE4523EL069768        RS         CO         CO         98050470447
11B076        TRAILER        IN         84        KTY       1KKVE4527EL069773        RS         CO         CO         98050470448
11B077        TRAILER        IN         84        KTY       1KKVE4529EL069774        RS         CO         CO         98050470449
11B078        TRAILER        IN         84        KTY       1KKVE4520EL069775        RS         CO         CO         98050470450
11B080        TRAILER        IN         84        KTY       1KKVE4524EL069777        RS         CO         CO         98050470451
11B087        TRAILER        IN         84        KTY       1KKVE4521EL069784        RS         CO         CO         98050470455
11B088        TRAILER        IN         84        KTY       1KKVE4523EL069785        RS         CO         CO         98050470456
11B089        TRAILER        IN         84        KTY       1KKVE4525EL069786        RS         CO         CO         98050470458
11B092        TRAILER        IN         84        KTY       1KKVE4227EL069809        HV         CO         CO         98050470460
11B094        TRAILER        IN         84        KTY       1KKVE4225EL069811        HV         CO         CO         98050470462
11B095        TRAILER        IN         84        KTY       1KKVE4227EL069812        HV         CO         CO         98050470464
11B097        TRAILER        IN         84        KTY       1KKVE4526EL069814        RS         CO         CO         98050470465
11B101        TRAILER        IN         84        KTY       1KKVE4523EL069818        RS         CO         CO         98050470467
11B103        TRAILER        IN         84        KTY       1KKVE4521EL069820        RS         CO         CO         98050470469
11B104        TRAILER        IN         84        KTY       1KKVE4523EL069821        RS         CO         CO         98050470470
11B111        TRAILER        IN         84        KTY       1KKVE4526EL069828        RS         CO         CO         98050470472
11B119        TRAILER        IN         84        KTY       1KKVE4525EL069836        RS         CO         CO         98050470473
11B135        TRAILER        IN         84        KTY       1KKVE4528EL069852        HV         CO         CO         98050470477
11B139        TRAILER        IN         84        KTY       1KKVE4529EL071282        RS         CO         CO         98050470478
11B158        TRAILER        IN         84        KTY       1KKVE4526EL071353        RS         CO         CO         98050470481
11B163        TRAILER        IN         84        KTY       1KKVE4525EL071358        RS         CO         CO         98050470484
11B167        TRAILER        IN         84        KTY       1KKVE4527EL071362        RS         CO         CO         98050470488
11B168        TRAILER        IN         84        KTY       1KKVE4524EL071318        RS         CO         CO         98050472854
11B170        TRAILER        IN         84        KTY       1KKVE4522EL071320        RS         CO         CO         98050472861
11B171        TRAILER        IN         84        KTY       1KKVE4524EL071321        RS         CO         CO         98050472870
11B172        TRAILER        IN         84        KTY       1KKVE4526EL071322        RS         CO         CO         98050472879
11B175        TRAILER        IN         84        KTY       1KKVE4521EL071325        RS         CO         CO         98050472884

</TABLE>

<PAGE>

Page 3

LIST OF NORTH AMERICAN VAN LINES TITLED EQUIPMENT AS OF 10/30/99

<TABLE>
<CAPTION>

                             LIC                            SERIAL                                                    TITLE

UNIT          TYPE           ST        YR        MAKE       NUMBER                   DIV        SUB        FC         NUMBER
----          ----           --        --        ----       ------                   ---        ---        --         ------
<S>           <C>            <C>       <C>       <C>        <C>                      <C>        <C>        <C>        <C>
11B179        TRAILER        IN        85        KTY        1KKVE4521FL073139        HV         CO         CO         98050472894
11B180        TRAILER        IN        85        KTY        1KKVE4528FL073140        HV         DC         12         98050472903
11B182        TRAILER        IN        85        KTY        1KKVE4521FL073142        HV         CO         CO         98050472909
11B190        TRAILER        IN        85        KTY        1KKVE4527FL073176        RS         CL         LA         98050472916
11B194        TRAILER        IN        85        KTY        1KKVE4529FL073180        RS         CO         CO         98050472923
11B195        TRAILER        IN        85        KTY        1KKVE4520FL073181        RS         CO         CO         98050472928
11B198        TRAILER        IN        85        KTY        1KKVE4526FL073184        RS         CO         CO         98050472936
11B202        TRAILER        IN        85        KTY        1KKVE4523FL073188        RS         CO         CO         98050472942
11B205        TRAILER        IN        85        KTY        1KKVE4523FL073191        RS         CO         CO         98050472950
11B207        TRAILER        IN        85        KTY        1KKVE4527FL073193        RS         CO         CO         98050472955
11B208        TRAILER        IN        85        KTY        1KKVE4529FL073194        HV         AG         LF         98050472963
11B213        TRAILER        IN        85        KTY        1KKVE4528FL073199        RS         CO         CO         98050472968
11B217        TRAILER        IN        85        KTY        1KKVE4526FL073203        RS         CO         CO         98050472974
11B220        TRAILER        IN        85        KTY        1KKVE4525FL073211        RS         CO         CO         98050142076
11B221        TRAILER        IN        85        KTY        1KKVE4527FL073212        RS         CO         CO         98050473020
11B224        TRAILER        IN        85        KTY        1KKVE4522FL073215        RS         CO         CO         98050473025
11B226        TRAILER        IN        85        KTY        1KKVE4529FL073227        RS         CO         CO         98050473032
11B228        TRAILER        IN        85        KTY        1KKVE4522FL073229        RS         CO         CO         98050473040
11B229        TRAILER        IN        85        KTY        1KKVE4529FL073230        RS         CO         CO         98050473046
11B230        TRAILER        IN        85        KTY        1KKVE4520FL073231        RS         CO         CO         98050473051
11B234        TRAILER        IN        85        KTY        1KKVE4528FL073235        RS         CO         CO         98050473056
11B237        TRAILER        IN        85        KTY        1KKVE4523FL073238        RS         CL         LA         98050473064
11B240        TRAILER        IN        85        KTY        1KKVE4522FL074204        RS         CO         CO         98050473072
11B245        TRAILER        IN        85        KTY        1KKVE4521FL074209        RS         CO         CO         98050473079
11B249        TRAILER        IN        85        KTY        1KKVE4523FL074213        RS         CO         CO         98050473090
11B250        TRAILER        IN        85        KTY        1KKVE4525FL074214        RS         CO         CO         98050473096
11B256        TRAILER        IN        85        KTY        1KKVE4520FL074220        RS         CO         CO         98050473103
11B267        TRAILER        IN        85        KTY        1KKVE4525FL074231        RS         CO         CO         98050473110
11B268        TRAILER        IN        85        KTY        1KKVR4520FL074576        HV         CO         CO         98050473120
11B269        TRAILER        IN        85        KTY        1KKVR4522FL074577        HV         CO         CO         98050473128
11C425        TRAILER        IN        83        KTY        1KKVE4828DL001122        RS         CO         CO         98050473136
11C426        TRAILER        IN        83        KTY        1KKVE482XDL001123        RS         CL         LA         98050473143
11C427        TRAILER        IN        83        KTY        1KKVE4821DL001124        RS         CO         CO         98050473151
11C428        TRAILER        IN        83        KTY        1KKVE4823DL001125        RS         CL         LA         98050473159
11C429        TRAILER        IN        83        KTY        1KKVE4825DL001126        RS         CL         LA         98050473165
11C430        TRAILER        IN        83        KTY        1KKVE4827DL001127        RS         CL         LA         98050473173
11C431        TRAILER        IN        83        KTY        1KKVE4829DL001128        RS         CL         LA         98050473179
11C432        TRAILER        IN        83        KTY        1KKVE4820DL001129        RS         CO         CO         98050473190
11C433        TRAILER        IN        83        KTY        1KKVE4827DL001130        RS         CO         CO         98050473196
11C434        TRAILER        IN        83        KTY        1KKVE4820DL001132        RS         CL         LA         98050473203
11C435        TRAILER        IN        83        KTY        1KKVE4822DL001133        RS         CL         LA         98050473960
11C436        TRAILER        IN        83        KTY        1KKVE4824DL001134        RS         CO         CO         98050473211
11C438        TRAILER        IN        83        KTY        1KKVE4828DL001136        RS         CO         CO         98050473216
11C439        TRAILER        IN        83        KTY        1KKVE4821DL001138        RS         CL         LA         98050473233
11C441        TRAILER        IN        83        KTY        1KKVE482XDL001140        RS         CL         LA         98050473247
11C442        TRAILER        IN        83        KTY        1KKVE4821DL001141        RS         CO         CO         98050473225
11C443        TRAILER        IN        83        KTY        1KKVE4823DL001142        RS         CO         CO         98050472055
11C445        TRAILER        IN        83        KTY        1KKVE4828DL001153        RS         CL         LA         98050473957
11C446        TRAILER        IN        83        KTY        1KKVE482XDL001154        RS         CO         CO         98050473958
11C447        TRAILER        IN        83        KTY        1KKVE4821DL001155        RS         CO         CO         98050472062

</TABLE>

<PAGE>

PAGE 4

LIST OF NORTH AMERICAN VAN LINES TITLED EQUIPMENT AS OF 10/30/99

<TABLE>
<CAPTION>
                             LIC                            SERIAL                                                    TITLE
UNIT               TYPE      ST        YR        MAKE       NUMBER                   DIV        SUB        FC         NUMBER
----               ----      --        --        ----       ------                   ---        ---        --         ------
<S>                <C>       <C>       <C>       <C>        <C>                      <C>        <C>        <C>        <C>
11C448             TRAILER   IN        83        KTY        IKKVE4823DL001156        RS         CL         LA         98050473959
11C449             TRAILER   IN        83        KTY        1KKVE4825DL001157        RS         CL         LA         98050472068
11C451             TRAILER   IN        83        KTY        1KKVE4829DL001159        RS         CL         LA         98050472076
11C654             TRAILER   IN        84        KTY        1KKVE4822EL069787        RS         CO         CO         84184091141
11C656             TRAILER   IN        84        KTY        1KKVE4826EL069789        RS         CL         LA         98050472085
11C659             TRAILER   IN        84        KTY        1KKVE4826EL069792        HV         CO         CO         98050472093
11C669             TRAILER   IN        84        KTY        1KKVE4825EL069802        RS         CO         CO         98050472100
11C670             TRAILER   IN        84        KTY        1KKVE4827EL069803        RS         CO         CO         98050472107
11C673             TRAILER   IN        84        KTY        1KKVE4822EL069806        RS         CL         LA         98050472114
11E313             TRAILER   IN        85        DOR        1DTV51X26FA168076        HV         CO         CO         98050472120
11E320             TRAILER   IN        85        DOR        1DTV51X23FA168083        HV         CO         CO         98050472128
11F001             TRAILER   IN        85        KTY        1KKVE4821FL073038        RS         CO         CO         98050472132
11F002             TRAILER   IN        85        KTY        1KKVE4823FL073039        RS         CO         CO         98050472140
11F003             TRAILER   IN        85        KTY        1KKVE482XFL073040        RS         CO         CO         98050472148
11F004             TRAILER   IN        85        KTY        1KKVE4821FL073041        RS         CO         CO         98050472155
11F005             TRAILER   IN        85        KTY        1KKVE4823FL073042        HV         CO         CO         98050472162
11F008             TRAILER   IN        85        KTY        1KKVE4829FL073045        HV         CO         CO         98050472165
11F009             TRAILER   IN        85        KTY        1KKVE4820FL073046        RS         CO         CO         98050472170
11F010             TRAILER   IN        85        KTY        1KKVE4822FL073047        HV         CO         CO         98050472177
11F011             TRAILER   IN        85        KTY        1KKVE4824FL073048        HV         CO         CO         98050472186
11F012             TRAILER   IN        85        KTY        1KKVE4826FL073049        RS         CO         CO         98050472195
11F013             TRAILER   IN        85        KTY        1KKVE4822FL073050        RS         CO         CO         98050472202
11F014             TRAILER   IN        85        KTY        1KKVE4824FL073051        HV         CO         CO         98050472209
11F016             TRAILER   IN        85        KTY        1KKVE4828FL073053        RS         CL         LA         98050472223
11F017             TRAILER   IN        85        KTY        1KKVE482XFL073054        RS         CO         CO         98050472231
11F018             TRAILER   IN        85        KTY        1KKVE4821FL073055        RS         CO         CO         98050472238
11F019             TRAILER   IN        85        KTY        1KKVE4823FL073056        RS         CO         CO         98050472244
11F020             TRAILER   IN        85        KTY        1KKVE4825FL073057        RS         CO         CO         98050472252
11F021             TRAILER   IN        85        KTY        1KKVE4827FL073058        RS         CO         CO         98050472283
11F022             TRAILER   IN        85        KTY        1KKVE4829FL073059        RS         CO         CO         98050472289
11F023             TRAILER   IN        85        KTY        1KKVE4825FL073060        RS         CO         CO         98050472295
11F024             TRAILER   IN        85        KTY        1KKVE4827FL073061        HV         CO         CO         98050472302
11F025             TRAILER   IN        85        KTY        1KKVE4829FL073062        HV         CO         CO         98050472309
11F026             TRAILER   IN        85        KTY        1KKVE4820FL073063        RS         CO         CO         98050472318
11F027             TRAILER   IN        85        KTY        1KKVE4822FL073064        RS         CO         CO         98050472325
11F029             TRAILER   IN        85        KTY        1KKVE4826FL073066        RS         CO         CO         98050472330
11F030             TRAILER   IN        85        KTY        1KKVE4828FL073067        RS         CO         CO         98050472336
11F032             TRAILER   IN        85        KTY        1KKVE4821FL073069        HV         CO         CO         98050472345
11F033             TRAILER   IN        85        KTY        1KKVE4828FL073070        HV         CO         CO         98050472352
11F034             TRAILER   IN        85        KTY        1KKVE482XFL073071        HV         CO         CO         98050472362
11F035             TRAILER   IN        85        KTY        1KKVE4821FL073072        HV         CL         LA         98050472372
11F036             TRAILER   IN        85        KTY        1KKVE4823FL073073        HV         CO         CO         98050472381
11F037             TRAILER   IN        85        KTY        1KKVE4825FL073074        RS         CO         CO         98050472388
11F038             TRAILER   IN        85        KTY        1KKVE4827FL073075        HV         CO         CO         98050472395
11F040             TRAILER   IN        85        KTY        1KKVE4820FL073077        HV         CO         CO         98050472404
11F041             TRAILER   IN        85        KTY        1KKVE4822FL073078        RS         CO         CO         98050472410
11F042             TRAILER   IN        85        KTY        1KKVE4824FL073079        RS         CO         CO         98050472416
11F043             TRAILER   IN        85        KTY        1KKVE4820FL073080        HV         CO         CO         98050472423
11F044             TRAILER   IN        85        KTY        1KKVE4822FL073081        RS         CO         CO         98050472069
11F046             TRAILER   IN        85        KTY        1KKVE4826FL073083        HV         CO         CO         98050472088

</TABLE>

<PAGE>

Page 5

LIST OF NORTH AMERICAN VAN LINES TITLED EQUIPMENT AS OF 10/30/99

<TABLE>
<CAPTION>

                             LIC                            SERIAL                                                    TITLE
UNIT          TYPE           ST        YR        MAKE       NUMBER                   DIV        SUB        FC         NUMBER
----          ----           --        --        ----       ------                   ---        ---        --         ------
<S>           <C>           <C>       <C>        <C>        <C>                     <C>        <C>        <C>         <C>

11F047        TRAILER        IN        85        KTY        1KKVE4828FL073084        RS         CO         CO         98050472109
11F048        TRAILER        IN        85        KTY        1KKVE482XFL073085        RS         CO         CO         98050472138
11F049        TRAILER        IN        85        KTY        1KKVE4821FL073086        RS         CO         CO         98050472157
11F050        TRAILER        IN        85        KTY        1KKVE4823FL073087        RS         CO         CO         98050472171
11F052        TRAILER        IN        85        KTY        1KKVE4827FL073089        RS         CO         CO         98050472185
11F054        TRAILER        IN        85        KTY        1KKVE4825FL073091        RS         CL         LA         98050472205
11F055        TRAILER        IN        85        KTY        1KKVE4827FL073092        RS         CO         CO         98050472219
11F056        TRAILER        IN        85        KTY        1KKVE4829FL073093        RS         CO         CO         98050472230
11F057        TRAILER        IN        85        KTY        1KKVE4820FL073094        RS         CO         CO         98050472247
11F058        TRAILER        IN        85        KTY        1KKVE4822FL073095        HV         CO         CO         98050472259
11F059        TRAILER        IN        85        KTY        1KKVE4824FL073096        RS         CO         CO         98050472273
11F060        TRAILER        IN        85        KTY        1KKVE4826FL073097        HV         CO         CO         98050472285
11F061        TRAILER        IN        85        KTY        1KKVE4828FL073098        HV         CO         CO         98050472301
11F062        TRAILER        IN        85        KTY        1KKVE482XFL073099        HV         CL         LA         98050472313
11F064        TRAILER        IN        85        KTY        1KKVE4824FL073101        HV         CL         LA         98050472326
11F065        TRAILER        IN        85        KTY        1KKVE4826FL073102        HV         CO         CO         98050472343
11F066        TRAILER        IN        85        KTY        IKKVE4828FL073103        RS         CO         CO         98050472357
11FO67        TRAILER        IN        85        KTY        IKKVE482XFL073104        HV         CL         LA         98050472376
11FO68        TRAILER        IN        85        KTY        IKKVE4821FL073105        HV         CO         CO         98050472389
11FO70        TRAILER        IN        85        KTY        IKKVR4825FL073107        HV         CO         CO         98050472406
11FO71        TRAILER        IN        85        KTY        IKKVE4827FL073108        HV         CO         CO         98050472422
11FO72        TRAILER        IN        85        KTY        IKKVE4829FL073109        HV         CO         CO         98050472435
11F073        TRAILER        IN        85        KTY        IKKVE4825FL073110        HV         CO         CO         98050472449
11FO74        TRAILER        IN        85        KTY        IKKVE4827FL073111        HV         CL         LA         98050472458
11F075        TRAILER        IN        85        KTY        IKKVE4829FL073112        HV         CO         CO         98050472469
11FO76        TRAILER        IN        85        KTY        IKKVE4820FL073113        HV         CO         CO         98050472479
11FO77        TRAILER        IN        85        KTY        IKKVE4822FL073114        HV         CO         CO         98050472487
11FO78        TRAILER        IN        85        KTY        IKKVE4824FL073115        HV         CO         CO         98050472506
11F079        TRAILER        IN        85        KTY        IKKVE4826FL073116        HV         CO         CO         98050472518
11FO80        TRAILER        IN        85        KTY        IKKVE4828FL073117        HV         CO         CO         98050472532
11FO81        TRAILER        IN        85        KTY        IKKVE482XFL073118        HV         CO         CO         98050472551
11FO82        TRAILER        IN        85        KTY        IKKVE4821FL073119        HV         CO         CO         98050472571
11FO83        TRAILER        IN        85        KTY        IKKVE4828FL073120        HV         CO         CO         98050472583
11FO84        TRAILER        IN        85        KTY        IKKVE482XFL073121        HV         CO         CO         98050472597
11FO85        TRAILER        IN        85        KTY        IKKVE4821FL073122        HV         CO         CO         98050472608
11FO86        TRAILER        IN        85        KTY        IKKVE4823FL073123        HV         CL         LA         98050472622
11F087        TRAILER        IN        85        KTY        IKKVE4825FL073124        RS         CO         CO         98050472636
11FO88        TRAILER        IN        85        KTY        IKKVE4827FL073125        HV         CO         CO         98050472649
11FO89        TRAILER        IN        85        KTY        IKKVE4829FL073126        RS         CL         LA         98050472658
11FO90        TRAILER        IN        85        KTY        IKKVE4820FL073127        HV         CO         CO         98050472671
11F091        TRAILER        IN        85        KTY        IKKVE4822FL073128        HV         CO         CO         98050472683
11FO92        TRAILER        IN        85        KTY        IKKVE4824FL073129        RS         CO         CO         98050472697
11F093        TRAILER        IN        85        KTY        IKKVE4820FL073130        HV         CO         CO         98050472714
11FO94        TRAILER        IN        85        KTY        IKKVE4822FL073131        HV         CO         CO         98050472729
11FO95        TRAILER        IN        85        KTY        IKKVE4824FL073132        RS         CO         CO         98050472740
11F096        TRAILER        IN        85        KTY        IKKVE4826FL073133        RS         CO         CO         98050472755
11F097        TRAILER        IN        85        KTY        IKKVE4828FL073134        RS         CO         CO         98050472785
11F098        TRAILER        IN        85        KTY        IKKVE482XFL073155        RS         CO         CO         98050472768
11H420        TRAILER        IN        92        KTY        IKKVR482XNL092206        HV         CO         CO         98050470510
11H421        TRAILER        IN        92        KTY        IKKVR4821NL092207        HV         CO         CO         98050470511

</TABLE>

<PAGE>

Page    6

LIST OF NORTH AMERICAN VAN LINES TITLED EQUIPMENT AS OF 10/30/99

<TABLE>
<CAPTION>

                             LIC                            SERIAL                                                    TITLE
UNIT          TYPE           ST        YR        MAKE       NUMBER                   DIV        SUB        FC         NUMBER
---           ----           ---       --        ----       ------                   ---        ---        --         ------
<S>           <C>            <C>       <C>       <C>        <C>                      <C>        <C>        <C>        <C>
11H422        TRAILER        IN        92        KTY        1KKVR4823NL092208        HV         CO         CO         98050470512
11H423        TRAILER        IN        92        KTY        1KKVR4825NL099209        HV         CO         CO         98050470513
11H424        TRAILER        IN        92        KTY        1KKVR4821NL092210        HV         CO         CO         98050470514
11H425        TRAILER        IN        92        KTY        1KKVR4823NL092211        HV         CO         CO         98050470515
11H426        TRAILER        IN        92        KTY        1KKVR4825NL092212        HV         CO         CO         98050470516
11H427        TRAILER        IN        92        KTY        1KKVR4827NLO92213        HV         CO         CO         98050470517
11H428        TRAILER        IN        92        KTY        1KKVR4829NL092214        HV         CO         CO         98050470518
11H429        TRAILER        IN        92        KTY        1KKVR4820NL092215        HV         CO         CO         98050470519
11H430        TRAILER        IN        92        KTY        1KKVR4822NL092216        HV         CO         CO         98050470520
11H431        TRAILER        IN        92        KTY        1KKVR4824NL092217        HV         CO         CO         98050470521
11H432        TRAILER        IN        92        KTY        1KKVR4826NL092218        HV         CO         CO         98050470522
11H433        TRAILER        IN        92        KTY        1KKVR4828NLO92219        HV         CO         CO         98050470523
11H434        TRAILER        IN        92        KTY        1KKVR4824NL092220        HV         CO         CO         98050470524
11H435        TRAILER        IN        92        KTY        1KKVR4826NL092221        HV         CO         CO         98050470525
11H436        TRAILER        IN        92        KTY        1KKVR4828NL092222        HV         CO         CO         98050470526
11H437        TRAILER        IN        93        KTY        1KKVR4723PL095498        HV         CO         CO         98050470527
11H438        TRAILER        IN        93        KTY        1KKVR4725PL095499        HV         CO         CO         98050470528
11H439        TRAILER        IN        92        KTY        1KKVE4829NL092225        HV         CO         CO         98050470529
11H440        TRAILER        IN        92        KTY        1KKVE4820NL092226        HV         CO         CO         98050470530
11H441        TRAILER        IN        92        KTY        1KKVE4822NL092227        HV         CO         CO         98050470531
11H442        TRAILER        IN        92        KTY        1KKVE4824NL092228        HV         CO         CO         98050470532
11H443        TRAILER        IN        92        KTY        1KKVE4826NL092229        HV         CO         CO         98050470533
11H444        TRAILER        IN        92        KTY        1KKVE4822NL092230        HV         CO         CO         98050470534
11H445        TRAILER        IN        92        KTY        1KKVE4824NL092231        HV         CO         CO         98050470535
11H446        TRAILER        IN        92        KTY        1KKVE4826NL092232        HV         CO         CO         98050470536
11H447        TRAILER        IN        92        KTY        1KKVE4828NL092233        HV         CO         CO         98050470539
11H448        TRAILER        IN        92        KTY        1KKVE482XNL092234        HV         CO         CO         98050470541
11H449        TRAILER        IN        92        KTY        1KKVE4821NL092235        HV         CO         CO         98050470543
11H450        TRAILER        IN        92        KTY        1KKVE4823NL092236        HV         CO         CO         98050470545
11H451        TRAILER        IN        92        KTY        1KKVE4825NL092237        HV         CO         CO         98050470547
11H452        TRAILER        IN        92        KTY        1KKVE4827NL092238        HV         CO         CO         98050470549
11H453        TRAILER        IN        92        KTY        1KKVE4829NL092239        HV         CO         CO         98050470551
11H454        TRAILER        IN        92        KTY        1KKVE4825NL092240        HV         CO         CO         98050470553
11H455        TRAILER        IN        92        KTY        1KKVE4827NL092241        HV         CO         CO         98050470555
11H456        TRAILER        IN        92        KTY        1KKVE4829NL092242        HV         CO         CO         98050470557
11H457        TRAILER        IN        92        KTY        1KKVE4820NL092243        HV         CO         CO         98050470559
11H458        TRAILER        IN        92        KTY        1KKVE4822NL092244        HV         CO         CO         98050470561
11H459        TRAILER        IN        92        KTY        1KKVE4824NLO92245        HV         CO         CO         98050470562
11H460        TRAILER        IN        92        KTY        1KKVE4826NL092246        HV         CL         LA         98050470563
11H461        TRAILER        IN        92        KTY        1KKVE4828NL092247        HV         CO         CO         98050470566
11H462        TRAILER        IN        92        KTY        1KKVE482XNL092248        HV         CO         CO         98050470567
11H463        TRAILER        IN        92        KTY        1KKVE4821NL092249        HV         CO         CO         98050470569
11H464        TRAILER        IN        92        KTY        1KKVE4828NL092250        HV         CL         LA         98050470571
11H465        TRAILER        IN        92        KTY        1KKVE482XNL092251        HV         CO         CO         98050470573
11H466        TRAILER        IN        92        KTY        1KKVE4821NL092252        HV         CO         CO         98050470574
11H467        TRAILER        IN        92        KTY        1KKVE4823NL092253        HV         CO         CO         98050470576
11H468        TRAILER        IN        92        KTY        1KKVE4825NL092254        HV         CO         CO         98050470578
11H469        TRAILER        IN        92        KTY        1KKVE4827NL092255        HV         CO         CO         98050470581
11H470        TRAILER        IN        92        KTY        1KKVE4829NL092256        HV         CO         CO         98050470407
11H471        TRAILER        IN        92        KTY        1KKVE4820NL092257        HV         CO         CO         98050470408

</TABLE>

<PAGE>

PAGE 7

LIST OF NORTH AMERICAN VAN LINES TITLED EQUIPMENT AS OF 10/30/99
<TABLE>
<CAPTION>

                             LIC                            SERIAL                                                    TITLE
UNIT          TYPE           ST        YR        MAKE       NUMBER                   DIV       SUB         FC         NUMBER
----          ----           --        --        ----       ------                   ---       ---         --         ------
<S>            <C>           <C>      <C>        <C>         <C>                    <C>         <C>        <C>         <C>
11H472        TRAILER        IN        92        KTY        1KKVE4822NL092258        HV        CO          CO         98050470466
11H473        TRAILER        IN        92        KTY        1KKVE4824NL092259        HV        CO          CO         98050470412
11H474        TRAILER        IN        92        KTY        1KKVE4820NL092260        HV        CL          LA         98050470414
11H475        TRAILER        IN        92        KTY        1KKVE4822NL092261        HV        CL          LA         98050470415
11H476        TRAILER        IN        92        KTY        1KKVE4824NL092262        HV        CO          CO         98050470418
11H477        TRAILER        IN        92        KTY        1KKVE4826NL092263        HV        CO          CO         98050470426
11H478        TRAILER        IN        92        KTY        1KKVE4828NL092264        HV        CO          CO         98050470430
11H479        TRAILER        IN        92        KTY        1KKVE482XNL092265        HV        CO          CO         98050470433
11H480        TRAILER        IN        92        KTY        1KKVE4821NL092266        HV        CO          CO         98050470436
11H481        TRAILER        IN        92        KTY        1KKVE4823NL092267        HV        CO          CO         98050470438
11H482        TRAILER        IN        92        KTY        1KKVE4825NL092268        HV        CO          CO         98050470439
11H483        TRAILER        IN        92        KTY        1KKVE4827NL092269        HV        CO          CO         98050470441
11H484        TRAILER        IN        92        KTY        1KKVE4823NL092270        HV        CO          CO         98050470444
11H485        TRAILER        IN        92        KTY        1KKVE4825NL092271        RS        CO          CO         98050470452
11H486        TRAILER        IN        92        KTY        1KKVE4827NL092272        HV        CO          CO         98050470453
11H487        TRAILER        IN        92        KTY        1KKVE4829NL092273        HV        CO          CO         98050470454
11H488        TRAILER        IN        92        KTY        1KKVE4820NL092274        HV        CO          CO         98050470457
11H489        TRAILER        IN        92        KTY        1KKVE4822NL092275        HV        CO          CO         98050470459
11H490        TRAILER        IN        92        KTY        1KKVE4824NL092276        HV        CO          CO         98050470461
11H491        TRAILER        IN        92        KTY        1KKVE4826NL092277        HV        CL          LA         98050470463
11H492        TRAILER        IN        92        KTY        1KKVE4828NL092278        HV        CO          CO         98050470468
11H493        TRAILER        IN        92        KTY        1KKVE482XNL092279        HV        CO          CO         98050470471
11H494        TRAILER        IN        92        KTY        1KKVE4826NL092280        HV        CO          CO         98050470474
11H495        TRAILER        IN        92        KTY        1KKVE4828NL092281        HV        CO          CO         98050470476
11H496        TRAILER        IN        92        KTY        1KKVE482XNL092282        HV        CO          CO         98050470479
11H497        TRAILER        IN        92        KTY        1KKVE4821NL092283        HV        CL          LA         98050470483
11H498        TRAILER        IN        92        KTY        1KKVE4823NL092284        HV        CO          CO         98050470485
11H499        TRAILER        IN        92        KTY        1KKVE4825NL092285        HV        CO          CO         98050470487
11H500        TRAILER        IN        92        KTY        1KKVE4827NL092286        HV        CO          CO         98050470489
11H501        TRAILER        IN        92        KTY        1KKVE4829NL092287        HV        CO          CO         98050470490
11H502        TRAILER        IN        92        KTY        1KKVE482ONL092288        HV        CO          CO         98050470491
11H503        TRAILER        IN        92        KTY        1KKVE4822NL092289        HV        CO          CO         98050470492
11H504        TRAILER        IN        92        KTY        1KKVE4829NL092290        HV        CO          CO         98050470493
11H505        TRAILER        IN        92        KTY        1KKVE4820NL092291        RS        CO          CO         98050470495
11H506        TRAILER        IN        92        KTY        1KKVE4822NL092292        HV        CO          CO         98050470496
11H507        TRAILER        IN        92        KTY        1KKVE4824NL092293        HV        CL          LA         98050470497
11H508        TRAILER        IN        92        KTY        1KKVE4826NL092294        HV        CO          CO         98050470498
11H509        TRAILER        IN        92        KTY        1KKVE4828NL092295        HV        CO          CO         98050470499
11H510        TRAILER        IN        92        KTY        1KKVE482XNL092296        HV        CL          LA         98050470500
11H511        TRAILER        IN        92        KTY        1KKVE4821NL092297        HV        CO          CO         98050470501
11H512        TRAILER        IN        92        KTY        1KKVE4823NL092298        HV        CO          CO         98050470502
11H513        TRAILER        IN        92        KTY        1KKVE4825NL092299        HV        CO          CO         98050470503
11H514        TRAILER        IN        92        KTY        1KKVE4828NL092300        HV        CO          CO         98050470504
11H515        TRAILER        IN        92        KTY        1KKVE482XNL092301        HV        CO          CO         98050470505
11H516        TRAILER        IN        92        KTY        1KKVE4821NL092302        HV        CO          CO         98050470506
11H517        TRAILER        IN        92        KTY        1KKVE4823NL092303        HV        CL          LA         98050470507
11H518        TRAILER        IN        92        KTY        1KKVE4825NL092304        HV        CO          CO         98050470508
11H519        TRAILER        IN        92        KTY        1KKVE4827NL092305        HV        CL          LA         98050470509
11H520        TRAILER        IN        92        KTY        1KKVE4829NL092306        HV        CL          LA         98050470310
11H521        TRAILER        IN        92        KTY        1KKVE4820NL092307        HV        CO          CO         98050470313

</TABLE>

<PAGE>

Page    8

LIST OF NORTH AMERICAN VAN LINES TITLED EQUIPMENT AS OF 10/30/99

<TABLE>
<CAPTION>

                         LIC                          SERIAL                                                     TITLE
UNIT        TYPE         ST        YR       MAKE      NUMBER                  DIV         SUB         FC         NUMBER
----        ----         ---       --       ----      ------                  ---         ---         --         ------

<S>         <C>          <C>       <C>      <C>       <C>                     <C>         <C>         <C>        <C>

11H522      TRAILER      IN         92      KTY       1KKVE4822NL092308       HV          CO          CO         98050470315
11H523      TRAILER      IN         92      KTY       1KKVE4824NL092309       HV          CO          CO         98050470317
11H524      TRAILER      IN         92      KTY       1KKVE4820NLO92310       HV          CO          CO         98050470320
11H525      TRAILER      IN         92      KTY       1KKVE4822NL092311       HV          CO          CO         98050470322
11H526      TRAILER      IN         92      KTY       1KKVE4824NL092312       HV          CL          LA         98050470323
11H527      TRAILER      IN         92      KTY       1KKVE4826NL092313       HV          CO          CO         98050470324
11H528      TRAILER      IN         92      KTY       1KKVE4828NL092314       RS          CO          CO         98050470325
11H529      TRAILER      IN         92      KTY       1KKVE482XNL092315       HV          CO          CO         98050470326
11H530      TRAILER      IN         92      KTY       1KKVE4821NL092316       HV          CO          CO         98050470327
11H531      TRAILER      IN         92      KTY       1KKVE4823NL092317       HV          CO          CO         98050470329
11H532      TRAILER      IN         92      KTY       1KKVE4825NL092318       HV          CO          CO         98050470330
11H533      TRAILER      IN         92      KTY       1KKVE4827NL092319       HV          CO          CO         98050470331
11H534      TRAILER      IN         92      KTY       1KKVE4823NL092320       HV          CO          CO         98050470332
11H536      TRAILER      IN         92      KTY       1KKVE4827NL092322       HV          CO          CO         98050470335
11H537      TRAILER      IN         92      KTY       1KKVE4829NL092323       HV          CO          CO         98050470337
11H538      TRAILER      IN         92      KTY       1KKVE4820NLO92324       HV          CO          CO         98050470339
11H539      TRAILER      IN         92      KTY       1KKVE4822NL092325       HV          CO          CO         98050470341
11H540      TRAILER      IN         92      KTY       1KKVE4824NL092326       HV          CO          CO         98050470343
11H541      TRAILER      IN         92      KTY       1KKVE4826NL092327       HV          CO          CO         98050470345
11H542      TRAILER      IN         92      KTY       1KKVE4828NL092328       HV          CO          CO         98050470348
11H543      TRAILER      IN         92      KTY       1KKVE482XNL092329       HV          CO          CO         98050470350
11H544      TRAILER      IN         92      KTY       1KKVE4826NL092330       HV          CO          CO         98050470353
11H545      TRAILER      IN         92      KTY       1KKVE4828NL092331       HV          CO          CO         98050470355
11H546      TRAILER      IN         92      KTY       1KKVE482XNL092332       HV          CO          CO         98050470358
11H547      TRAILER      IN         92      KTY       1KKVE4821NL092333       HV          CO          CO         98050470359
11H548      TRAILER      IN         92      KTY       1KKVE4823NL092334       HV          CO          CO         98050470360
11H549      TRAILER      IN         92      KTY       1KKVE4825NLO92335       HV          CO          CO         98050470361
11H550      TRAILER      IN         92      KTY       1KKVE4827NL092336       HV          CO          CO         98050470368
11H551      TRAILER      IN         92      KTY       1KKVE4829NL092337       HV          CO          CO         98050470370
11H552      TRAILER      IN         92      KTY       1KKVE4820NL092338       HV          CO          CO         98050470372
11H553      TRAILER      IN         92      KTY       1KKVE4822NL092339       HV          CO          CO         98050470374
11H554      TRAILER      IN         92      KTY       1KKVE4829NL092340       HV          CO          CO         98050470376
11H555      TRAILER      IN         92      KTY       1KKVE4820NL092341       HV          CO          CO         98050470378
11H556      TRAILER      IN         92      KTY       1KKVE4822NL092342       HV          CO          CO         98050470380
11H557      TRAILER      IN         92      KTY       1KKVE4824NL092343       HV          CO          CO         98050470382
11H558      TRAILER      IN         92      KTY       1KKVE4826NL092344       HV          CO          CO         98050470384
11H560      TRAILER      IN         92      KTY       1KKVE482XNL092346       HV          CO          CO         98050470385
11H561      TRAILER      IN         92      KTY       1KKVE4821NL092347       HV          CO          CO         98050470386
11H562      TRAILER      IN         92      KTY       1KKVE4823NL092348       HV          CO          CO         98050470387
11H563      TRAILER      IN         92      KTY       1KKVE4825NL092349       HV          CO          CO         98050470388
11H564      TRAILER      IN         92      KTY       1KKVE4821NL092350       HV          CO          CO         98050470391
11H565      TRAILER      IN         92      KTY       1KKVE4823NL092351       HV          CO          CO         98050470394
11H566      TRAILER      IN         92      KTY       1KKVE4825NL092352       HV          CO          CO         98050470396
11H567      TRAILER      IN         92      KTY       1KKVE4827NL092353       HV          CO          CO         98050470398
11H568      TRAILER      IN         92      KTY       1KKVE4829NL092354       HV          CO          CO         98050470402
11H569      TRAILER      IN         92      KTY       1KKVE4820NL092355       HV          CO          CO         98050470404
11H570      TRAILER      IN         92      KTY       1KKVE4822NL092356       HV          CO          CO         98050470405
11H571      TRAILER      IN         92      KTY       1KKVE4824NL092357       HV          CO          CO         98050470406
11H572      TRAILER      IN         92      KTY       1KKVE4826NL092358       HV          CO          CO         98050470001
11H573      TRAILER      IN         92      KTY       1KKVE4828NL092359       HV          CO          CO         98050470002

</TABLE>

<PAGE>

PAGE        9

LIST OF NORTH AMERICAN VAN LINES TITLED EQUIPMENT AS OF 10/30/99

<TABLE>
<CAPTION>
                             LIC                            SERIAL                                                    TITLE
UNIT          TYPE           ST        YR        MAKE       NUMBER                   DIV        SUB        FC         NUMBER
----          ----           ---       --        ----       ------                   ---        ---        --         ------
<S>           <C>            <C>       <C>       <C>        <C>                      <C>        <C>        <C>        <C>
11H574        TRAILER        IN        92        KTY        1KKVE4824NL092360        HV         CO         CO         98050470003
11H575        TRAILER        IN        92        KTY        1KKVE4826NL092361        HV         CO         CO         98050470005
11H576        TRAILER        IN        92        KTY        1KKVE4828NL092362        HV         CO         CO         98050470006
11H577        TRAILER        IN        92        KTY        1KKVE482XNL092363        HV         CL         LA         98050470007
11H578        TRAILER        IN        92        KTY        1KKVE4821NL092364        HV         CO         CO         98050470008
11H579        TRAILER        IN        92        KTY        1KKVE4823NL092365        HV         CO         CO         98050470009
11H580        TRAILER        IN        92        KTY        1KKVE4825NL092366        HV         CO         CO         98050470010
11H581        TRAILER        IN        92        KTY        1KKVE4827NL092367        HV         CO         CO         98050470011
11H582        TRAILER        IN        92        KTY        1KKVE4829NL092368        HV         CL         LA         98050470013
11H583        TRAILER        IN        92        KTY        1KKVE4820NL092369        HV         CO         CO         98050470015
11H585        TRAILER        IN        92        KTY        1KKVE4829NL092371        HV         CO         CO         98050470018
11H586        TRAILER        IN        92        KTY        1KKVE4820NL092372        HV         CO         CO         98050470019
11H587        TRAILER        IN        92        KTY        1KKVE4822NL092373        HV         CO         CO         98050470021
11H588        TRAILER        IN        92        KTY        1KKVE4824NL092374        HV         CO         CO         98050470023
11H589        TRAILER        IN        92        KTY        1KKVE4826NL092375        HV         CO         CO         98050470024
11H590        TRAILER        IN        92        KTY        1KKVE4828NL092376        HV         CO         CO         98050470026
11H591        TRAILER        IN        92        KTY        1KKVE482XNL092377        HV         CO         CO         98050470027
11H592        TRAILER        IN        92        KTY        1KKVE4821NL092378        HV         CO         CO         98050470029
11H593        TRAILER        IN        92        KTY        1KKVE4823NL092379        HV         CO         CO         98050470031
11H594        TRAILER        IN        92        KTY        1KKVE482XNL092380        HV         CO         CO         98050470033
11H595        TRAILER        IN        92        KTY        1KKVE4821NL092381        HV         CO         CO         98050470035
11H596        TRAILER        IN        92        KTY        1KKVE4823NL092382        HV         CO         CO         98050470037
11H597        TRAILER        IN        92        KTY        1KKVE4825NL092383        HV         CO         CO         98050470038
11H598        TRAILER        IN        92        KTY        1KKVE4827NL092384        HV         CO         CO         98050470040
11H599        TRAILER        IN        92        KTY        1KKVE4829NL092385        HV         CO         CO         98050470042
11H600        TRAILER        IN        92        KTY        1KKVE4820NL092386        HV         CO         CO         98050470043
11H601        TRAILER        IN        92        KTY        1KKVE4822NL092387        HV         CO         CO         98050470045
11H611        TRAILER        IN        93        KTY        1KKVE2818PL093297        HV         CO         CO         98050470052
11H613        TRAILER        IN        93        KTY        1KKVE2811PL093299        HV         DC         08         98050470053
11H615        TRAILER        IN        93        KTY        1KKVE2816PL093301        HV         DC         02         98050470055
11H617        TRAILER        IN        93        KTY        1KKVE281XPL093303        HV         CO         CO         98050470057
11H618        TRAILER        IN        93        KTY        1KKVE2811PL093304        HV         CO         CO         98050470059
11H619        TRAILER        IN        93        KTY        1KKVE2813PL093305        HV         CO         CO         98050470062
11H620        TRAILER        IN        93        KTY        1KKVE2815PL093306        HV         CO         CO         98050470064
11H621        TRAILER        IN        93        KTY        1KKVE2817PL093307        HV         CO         CO         98050470065
11H622        TRAILER        IN        93        KTY        1KKVE2819PL093308        HV         CO         CO         98050470067
11H626        TRAILER        IN        93        KTY        1KKVE2810PL093312        HV         DC         02         98050470070
11H627        TRAILER        IN        93        KTY        1KKVE4820PL093475        HV         CO         CO         98050470072
11H629        TRAILER        IN        93        KTY        1KKVE4824PL093477        HV         CO         CO         98050470074
11H630        TRAILER        IN        93        KTY        1KKVE4826PL093478        HV         CO         CO         98050470076
11H631        TRAILER        IN        93        KTY        1KKVE4828PL093479        HV         CO         CO         98050470078
11H632        TRAILER        IN        93        KTY        1KKVE4824PL093480        HV         CO         CO         98050470083
11H633        TRAILER        IN        93        KTY        1KKVE4826PL093481        HV         CO         CO         98050470081
11H635        TRAILER        IN        93        KTY        1KKVE482XPL093483        HV         CO         CO         98050470085
11H636        TRAILER        IN        93        KTY        1KKVE4821PL093484        HV         CO         CO         98050470086
11H637        TRAILER        IN        93        KTY        1KKVE4823PL093485        HV         CO         CO         98050470004
11H638        TRAILER        IN        93        KTY        1KKVE4825PL093486        HV         CO         CO         98050470012
11H639        TRAILER        IN        93        KTY        1KKVE4827PL093487        HV         CO         CO         98050470014
11H640        TRAILER        IN        93        KTY        1KKVE4829PL093488        HV         CO         CO         98050470017
11H641        TRAILER        IN        93        KTY        1KKVE4820PL093489        HV         CO         CO         98050470025
</TABLE>

<PAGE>

PAGE 10

LIST OF NORTH AMERICAN VAN LINES TITLED EQUIPMENT AS OF 10/30/99

<TABLE>
<CAPTION>
                             LIC                            SERIAL                                                    TITLE
UNIT          TYPE           ST        YR        MAKE       NUMBER                   DIV        SUB        FC         NUMBER
----          ----           ---       --        ----       ------                   ---        ---        --         ------
<S>           <C>            <C>       <C>       <C>        <C>                      <C>        <C>        <C>        <C>
11H642        TRAILER        IN        93        KTY        1KKVE4827PL093490        HV         CO         CO         98050470022
11H643        TRAILER        IN        93        KTY        1KKVE4829PL093491        HV         CO         CO         98050470028
11H644        TRAILER        IN        93        KTY        1KKVE4820PL093492        HV         CO         CO         98050470030
11H645        TRAILER        IN        93        KTY        1KKVE4822PL093493        HV         CO         CO         98050470032
11H646        TRAILER        IN        93        KTY        1KKVE4824PL093494        HV         CO         CO         98050470034
11H647        TRAILER        IN        93        KTY        1KKVE4826PL093495        HV         CO         CO         98050470036
11H648        TRAILER        IN        93        KTY        1KKVE4828PL093496        HV         CO         CO         98050470039
11H649        TRAILER        IN        93        KTY        1KKVE482XPL093497        HV         CO         CO         98050470041
11H650        TRAILER        IN        93        KTY        1KKVE4821PL093498        HV         CO         CO         98050470044
11H651        TRAILER        IN        93        KTY        1KKVE4823PL093499        HV         CO         CO         98050470049
11H652        TRAILER        IN        93        KTY        1KKVE4826PL093500        HV         CO         CO         98050470050
11H653        TRAILER        IN        93        KTY        1KKVE4828PL093501        HV         CO         CO         98050470051
11H654        TRAILER        IN        93        KTY        1KKVE482XPL093502        HV         CO         CO         98050470054
11H655        TRAILER        IN        93        KTY        1KKVE4821PL093503        HV         CO         CO         98050470056
11H656        TRAILER        IN        93        KTY        1KKVE4823PL093504        HV         CO         CO         98050470058
11H657        TRAILER        IN        93        KTY        1KKVE4825PL093505        HV         CO         CO         98050470060
11H658        TRAILER        IN        93        KTY        1KKVE4827PL093506        HV         CO         CO         98050470061
11H659        TRAILER        IN        93        KTY        1KKVE4829PL093507        HV         CO         CO         98050470063
11H660        TRAILER        IN        93        KTY        1KKVE4820PL093508        HV         CO         CO         98050470066
11H661        TRAILER        IN        93        KTY        1KKVE4822PL093509        HV         CO         CO         98050470068
11H662        TRAILER        IN        93        KTY        1KKVE4829PL093510        HV         CO         CO         98050470069
11H663        TRAILER        IN        93        KTY        1KKVE4820PL093511        HV         CO         CO         98050470071
11H664        TRAILER        IN        93        KTY        1KKVE4822PL093512        HV         CO         CO         98050470073
11H665        TRAILER        IN        93        KTY        1KKVE4824PL093513        HV         CO         CO         98050470075
11H666        TRAILER        IN        93        KTY        1KKVR4825PL093959        HV         CO         CO         98050470077
11H667        TRAILER        IN        93        KTY        1KKVE4825PL093469        HV         CO         CO         98050470080
11H669        TRAILER        IN        93        KTY        1KKVE4823PL093471        HV         CO         CO         98050470084
11H670        TRAILER        IN        93        KTY        1KKVE4825PL093472        HV         CO         CO         98050470087
11H671        TRAILER        IN        93        KTY        1KKVE4827PL093473        HV         CO         CO         98050470089
11H672        TRAILER        IN        93        STN        1DW1A5323PS825101        HV         CO         CO         98050470091
11H673        TRAILER        IN        93        STN        1DW1A5325PS825102        HV         CO         CO         98050473961
11H674        TRAILER        IN        93        STN        1DW1A5327PS825103        HV         CO         CO         98050473962
11H675        TRAILER        IN        93        STN        1DW1A5329PS825104        HV         CO         CO         98050473964
11H676        TRAILER        IN        93        STN        1DW1A5320PS825105        HV         CO         CO         98050470094
11H677        TRAILER        IN        93        STN        1DW1A5322PS825106        HV         CO         CO         98050470097
11H678        TRAILER        IN        93        STN        1DW1A5324PS825107        HV         CO         CO         98050470099
11H679        TRAILER        IN        93        STN        1DW1A5326PS825108        HV         CO         CO         98050470101
11H680        TRAILER        IN        93        STN        1DW1A5328PS825109        HV         CO         CO         98050470103
11H681        TRAILER        IN        93        STN        1DW1A5324PS825110        HV         DC         12         98050470105
11H682        TRAILER        IN        93        STN        1DW1A5326PS825111        HV         CO         CO         98050470107
11H683        TRAILER        IN        93        KTY        1KKVR4820PL094789        HV         CO         CO         98050470108
11H684        TRAILER        IN        93        KTY        1KKVR4827PL094790        HV         CO         CO         98050470109
11H685        TRAILER        IN        93        KTY        1KKVR4829PL094791        HV         CO         CO         98050470110
11H686        TRAILER        IN        93        KTY        1KKVR4820PL094792        HV         CO         CO         98050470111
11H687        TRAILER        IN        93        KTY        1KKVR4820PL095411        HV         CO         CO         98050470112
11H688        TRAILER        IN        93        KTY        1KKVR4822PL095412        HV         CO         CO         98050470113
11H689        TRAILER        IN        93        KTY        1KKVR4824PL095413        HV         CO         CO         98050470114
11H690        TRAILER        IN        93        KTY        1KKVR4826PL095414        HV         CO         CO         98050470584
11H691        TRAILER        IN        93        KTY        1KKVR4828PL095415        HV         CO         CO         98050470585
11H692        TRAILER        IN        93        KTY        1KKVR482XPL095416        HV         CO         CO         98050470587
</TABLE>

<PAGE>

PAGE        11

LIST OF NORTH AMERICAN VAN LINES TITLED EQUIPMENT AS OF 10/30/99

<TABLE>
<CAPTION>
                             LIC                            SERIAL                                                    TITLE
UNIT          TYPE           ST        YR        MAKE       NUMBER                   DIV        SUB        FC         NUMBER
----          ----           ---       --        ----       ------                   ---        ---        --         ------
<S>           <C>            <C>       <C>       <C>        <C>                      <C>        <C>        <C>        <C>
11H693        TRAILER        IN        93        KTY        1KKVR4821PL095417        HV         CO         CO         98050470589
11H694        TRAILER        IN        93        KTY        1KKVR4823PL095418        HV         CO         CO         98050470593
11H695        TRAILER        IN        94        KTY        1KKVR4824RL096273        HV         CO         CO         98050470595
11H696        TRAILER        IN        94        KTY        1KKVR4826RL096274        HV         CO         CO         98050470597
11H697        TRAILER        IN        94        KTY        1KKVR4828RL096275        HV         CO         CO         98050470600
11H698        TRAILER        IN        94        KTY        1KKVR482XRL096276        HV         CO         CO         98050470601
11H699        TRAILER        IN        94        KTY        1KKVR4821RL096277        HV         CO         CO         98050470604
11H700        TRAILER        IN        94        KTY        1KKVR4823RL096278        HV         CO         CO         98050470609
11H701        TRAILER        IN        94        KTY        1KKVR4825RL096279        HV         CO         CO         98050470611
11H702        TRAILER        IN        94        KTY        1KKVR4821RL096280        HV         CO         CO         98050470613
11H703        TRAILER        IN        93        KTY        1KKVE4820PL094769        HV         CO         CO         98050470615
11H704        TRAILER        IN        93        KTY        1KKVE4827PL094770        HV         CO         CO         98050470618
11H705        TRAILER        IN        93        KTY        1KKVE4829PL094771        HV         CO         CO         98050470620
11H706        TRAILER        IN        93        KTY        1KKVE4820PL094772        HV         CO         CO         98050470622
11H707        TRAILER        IN        93        KTY        1KKVE4822PL094773        HV         CO         CO         98050470628
11H708        TRAILER        IN        93        KTY        1KKVE4824PL094774        HV         CO         CO         98050470630
11H709        TRAILER        IN        93        KTY        1KKVE4826PL094775        HV         CO         CO         98050470632
11H710        TRAILER        IN        93        KTY        1KKVE4828PL094776        HV         CO         CO         98050470634
11H711        TRAILER        IN        93        KTY        1KKVE482XPL094777        HV         CO         CO         98050470636
11H712        TRAILER        IN        93        KTY        1KKVE4821PL094778        HV         CO         CO         98050470638
11H713        TRAILER        IN        93        KTY        1KKVE4823PL094779        HV         CO         CO         98050470641
11H714        TRAILER        IN        93        KTY        1KKVE482XPL094780        HV         CO         CO         98050470644
11H715        TRAILER        IN        93        KTY        1KKVE4821PL094781        HV         CO         CO         98050470646
11H716        TRAILER        IN        93        KTY        1KKVE4823PL094782        HV         CO         CO         98050470649
11H717        TRAILER        IN        93        KTY        1KKVE4825PL094783        HV         CO         CO         98050470650
11H718        TRAILER        IN        93        KTY        1KKVE4827PL094784        HV         CO         CO         98050470653
11H719        TRAILER        IN        93        KTY        1KKVE4829PL094785        HV         CO         CO         98050470655
11H720        TRAILER        IN        93        KTY        1KKVE4820PL094786        HV         CO         CO         98050470657
11H721        TRAILER        IN        93        KTY        1KKVE4822PL094787        HV         CO         CO         98050470659
11H722        TRAILER        IN        93        KTY        1KKVE4824PL094788        HV         CO         CO         98050470661
11H723        TRAILER        IN        93        KTY        1KKVE4822PL095325        HV         CO         CO         98050470662
11H724        TRAILER        IN        93        KTY        1KKVE4824PL095326        HV         CO         CO         98050470665
11H725        TRAILER        IN        93        KTY        1KKVE4826PL095327        HV         CO         CO         98050470666
11H726        TRAILER        IN        93        KTY        1KKVE4828PL095328        HV         CO         CO         98050470670
11H727        TRAILER        IN        93        KTY        1KKVE482XPL095329        HV         CO         CO         98050470672
11H728        TRAILER        IN        93        KTY        1KKVE4826PL095330        HV         CO         CO         98050470674
11H729        TRAILER        IN        93        KTY        1KKVE4828PL095331        HV         CO         CO         98050470676
11H730        TRAILER        IN        93        KTY        1KKVE482XPL095332        HV         CO         CO         98050470678
11H731        TRAILER        IN        93        KTY        1KKVE4821PL095333        HV         CO         CO         98050470680
11H732        TRAILER        IN        93        KTY        1KKVE4823PL095334        HV         CO         CO         98050470682
11H733        TRAILER        IN        93        KTY        1KKVE4825PL095335        HV         CO         CO         98050470684
11H734        TRAILER        IN        93        KTY        1KKVE4827PL095336        HV         CO         CO         98050470686
11H735        TRAILER        IN        93        KTY        1KKVE4829PL095337        HV         CO         CO         98050470688
11H736        TRAILER        IN        93        KTY        1KKVE4820PL095338        HV         CO         CO         98050470689
11H737        TRAILER        IN        93        KTY        1KKVE4822PL095339        HV         CO         CO         98050470690
11H738        TRAILER        IN        93        KTY        1KKVE4829PL095340        HV         CO         CO         98050470691
11H739        TRAILER        IN        93        KTY        1KKVE4820PL095341        HV         CO         CO         98050470692
11H740        TRAILER        IN        93        KTY        1KKVE4822PL095342        HV         CO         CO         98050470088
11H741        TRAILER        IN        93        KTY        1KKVE4824PL095343        HV         CO         CO         98050470090
11H742        TRAILER        IN        93        KTY        1KKVE4826PL095344        HV         CO         CO         98050470092
</TABLE>

<PAGE>

PAGE  12

LIST OF NORTH AMERICAN VAN LINES TITLED EQUIPMENT AS OF 10/30/99

<TABLE>
<CAPTION>
                             LIC                            SERIAL                                                    TITLE
UNIT          TYPE           ST        YR        MAKE       NUMBER                   DIV        SUB        FC         NUMBER
----          ----           ---       --        ----       ------                   ---        ---        --         ------
<S>           <C>            <C>       <C>       <C>        <C>                      <C>        <C>        <C>        <C>
11H743        TRAILER        IN        93        KTY        1KKVE4828PL095345        HV         CO         CO         98050470093
11H744        TRAILER        IN        93        KTY        1KKVE482XPL095346        HV         CO         CO         98050470095
11H745        TRAILER        IN        93        KTY        1KKVE4821PL095347        HV         CO         CO         98050470096
11H746        TRAILER        IN        93        KTY        1KKVE4823PL095348        HV         CO         CO         98050470098
11H747        TRAILER        IN        93        KTY        1KKVE4825PL095349        HV         CO         CO         98050470100
11H748        TRAILER        IN        93        KTY        1KKVE4821PL095350        HV         CO         CO         98050470102
11H749        TRAILER        IN        93        KTY        1KKVE4823PL095351        HV         CO         CO         98050470104
11H750        TRAILER        IN        93        KTY        1KKVE4825PL095352        HV         CO         CO         98050470106
11H751        TRAILER        IN        93        KTY        1KKVE4827PL095353        HV         CO         CO         98050470118
11H752        TRAILER        IN        93        KTY        1KKVE4829PL095354        HV         CO         CO         98050470120
11H753        TRAILER        IN        93        KTY        1KKVE4820PL095355        HV         CO         CO         98050470122
11H754        TRAILER        IN        93        KTY        1KKVE4822PL095356        HV         CO         CO         98050470124
11H755        TRAILER        IN        93        KTY        1KKVE4824PL095357        HV         CO         CO         98050470126
11H756        TRAILER        IN        93        KTY        1KKVE4826PL095358        HV         CO         CO         98050470128
11H757        TRAILER        IN        93        KTY        1KKVE4828PL095359        HV         CO         CO         98050470129
11H758        TRAILER        IN        93        KTY        1KKVE4824PL095360        HV         CO         CO         98050470131
11H759        TRAILER        IN        93        KTY        1KKVE4826PL095361        HV         CO         CO         98050470133
11H760        TRAILER        IN        93        KTY        1KKVE4828PL095362        HV         CO         CO         98050470134
11H761        TRAILER        IN        93        KTY        1KKVE482XPL095363        HV         CO         CO         98050470136
11H762        TRAILER        IN        93        KTY        1KKVE4821PL095364        HV         CO         CO         98050470137
11H763        TRAILER        IN        93        KTY        1KKVE4823PL095365        HV         CO         CO         98050470139
11H764        TRAILER        IN        93        KTY        1KKVE4825PL095366        HV         CO         CO         98050470141
11H765        TRAILER        IN        93        KTY        1KKVE4827PL095367        HV         CO         CO         98050470142
11H766        TRAILER        IN        93        KTY        1KKVE4829PL095368        HV         CO         CO         98050470144
11H767        TRAILER        IN        93        KTY        1KKVE4820PL095369        HV         CO         CO         98050470145
11H768        TRAILER        IN        93        KTY        1KKVE4827PL095370        HV         CO         CO         98050470147
11H790        TRAILER        IN        93        KTY        1KKVE4827PL094719        HV         CO         CO         98050470149
11H794        TRAILER        IN        93        KTY        1KKVE4829PL094723        HV         CO         CO         98050470177
11H800        TRAILER        IN        93        KTY        1KKVE482XPL094729        HV         CO         CO         98050470152
11H801        TRAILER        IN        93        KTY        1KKVE4826PL094730        HV         CO         CO         98050470154
11H802        TRAILER        IN        93        KTY        1KKVE4828PL094731        HV         CO         CO         98050470155
11H803        TRAILER        IN        93        KTY        1KKVE482XPL094732        HV         CO         CO         98050470157
11H804        TRAILER        IN        93        KTY        1KKVE4821PL094733        HV         CO         CO         98050470159
11H805        TRAILER        IN        93        KTY        1KKVE4823PL094734        HV         CO         CO         98050470161
11H806        TRAILER        IN        93        KTY        1KKVE4825PL094735        HV         CO         CO         98050470162
11H807        TRAILER        IN        93        KTY        1KKVE4827PL094736        HV         CO         CO         98050470164
11H808        TRAILER        IN        93        KTY        1KKVE4829PL094737        HV         CO         CO         98050470165
11H809        TRAILER        IN        93        KTY        1KKVE4820PL094738        HV         CO         CO         98050470167
11H810        TRAILER        IN        93        KTY        1KKVE4822PL094739        HV         CO         CO         98050470169
11H811        TRAILER        IN        93        KTY        1KKVE4829PL094740        HV         CO         CO         98050470170
11H812        TRAILER        IN        93        KTY        1KKVE4820PL094741        HV         CO         CO         98050470172
11H813        TRAILER        IN        93        KTY        1KKVE4822PL094742        HV         CO         CO         98050470174
11H814        TRAILER        IN        93        KTY        1KKVE4824PL094743        HV         CO         CO         98050470175
11H815        TRAILER        IN        93        KTY        1KKVE4826PL094744        HV         CO         CO         98050470179
11H816        TRAILER        IN        93        KTY        1KKVE4828PL094745        HV         CO         CO         98050470180
11H817        TRAILER        IN        93        KTY        1KKVE482XPL094746        HV         CO         CO         98050470181
11H818        TRAILER        IN        93        KTY        1KKVE4821PL094747        HV         CO         CO         98050470183
11H819        TRAILER        IN        93        KTY        1KKVE4823PL094748        HV         CL         LA         98050470115
11H820        TRAILER        IN        93        KTY        1KKVE4825PL094749        HV         CO         CO         98050470116
11H821        TRAILER        IN        93        KTY        1KKVE4821PL094750        HV         CO         CO         98050470117
</TABLE>

<PAGE>

PAGE    13

LIST OF NORTH AMERICAN VAN LINES TITLED EQUIPMENT AS OF 10/30/99
<TABLE>
<CAPTION>

                             LIC                            SERIAL                                                    TITLE
UNIT          TYPE           ST        YR        MAKE       NUMBER                   DIV        SUB        FC         NUMBER
----          ----           ---       --        ----       ------                   ---        ---        --         ------
<S>           <C>            <C>       <C>       <C>        <C>                      <C>        <C>        <C>        <C>
11H822        TRAILER        IN        93        KTY        1KKVE4823PL094751        HV         CO         CO         98050470119
11H823        TRAILER        IN        93        KTY        1KKVE4825PL094752        HV         CO         CO         98050470121
11H824        TRAILER        IN        93        KTY        1KKVE4827PL094753        HV         CO         CO         98050470123
11H825        TRAILER        IN        93        KTY        1KKVE4829PL094754        HV         CO         CO         98050470125
11H826        TRAILER        IN        93        KTY        1KKVE4820PL094755        HV         CO         CO         98050470127
11H827        TRAILER        IN        93        KTY        1KKVE4822PL094756        HV         CO         CO         98050470130
11H828        TRAILER        IN        93        KTY        1KKVE4824PL094757        HV         CO         CO         98050470132
11H829        TRAILER        IN        93        KTY        1KKVE4826PL094758        HV         CO         CO         98050470135
11H830        TRAILER        IN        93        KTY        1KKVE4828PL094759        HV         CO         CO         98050470138
11H831        TRAILER        IN        93        KTY        1KKVE4824PL094760        HV         CO         CO         98050470140
11H832        TRAILER        IN        93        KTY        1KKVE4826PL094761        HV         CO         CO         98050470143
11H833        TRAILER        IN        93        KTY        1KKVE4828PL094762        HV         CO         CO         98050470146
11H834        TRAILER        IN        93        KTY        1KKVE482XPL094763        HV         CO         CO         98050470148
11H835        TRAILER        IN        93        KTY        1KKVE4821PL094764        HV         CO         CO         98050470150
11H836        TRAILER        IN        93        KTY        1KKVE4823PL094765        HV         CO         CO         98050470151
11H837        TRAILER        IN        93        KTY        1KKVE4825PL094766        HV         CO         CO         98050470153
11H838        TRAILER        IN        93        KTY        1KKVE4827PL094767        HV         CO         CO         98050470156
11H839        TRAILER        IN        93        KTY        1KKVE4829PL094768        HV         CO         CO         98050470158
11H840        TRAILER        IN        93        KTY        1KKVE4829PL095371        HV         CO         CO         98050470160
11H841        TRAILER        IN        93        KTY        1KKVE4820PL095372        HV         CO         CO         98050470163
11H842        TRAILER        IN        93        KTY        1KKVE4822PL095373        HV         CO         CO         98050470166
11H843        TRAILER        IN        93        KTY        1KKVE4824PL095374        HV         CO         CO         98050470168
11H844        TRAILER        IN        93        KTY        1KKVE4826PL095375        HV         CO         CO         98050470171
11H845        TRAILER        IN        93        KTY        1KKVE4828PL095376        HV         CO         CO         98050470173
11H846        TRAILER        IN        93        KTY        1KKVE482XPL095377        HV         CO         CO         98050470176
11H847        TRAILER        IN        93        KTY        1KKVE4821PL095378        HV         CO         CO         98050470182
11H848        TRAILER        IN        93        KTY        1KKVE4823PL095379        HV         CO         CO         98050470184
11H849        TRAILER        IN        93        KTY        1KKVE482XPL095380        HV         CO         CO         98050470185
11H850        TRAILER        IN        93        KTY        1KKVE4821PL095381        HV         CO         CO         98050470186
11H851        TRAILER        IN        93        KTY        1KKVE4823PL095382        HV         CO         CO         98050470187
11H852        TRAILER        IN        93        KTY        1KKVE4825PL095383        HV         CO         CO         98050470188
11H853        TRAILER        IN        93        KTY        1KKVE4827PL095384        HV         CO         CO         98050470191
11H854        TRAILER        IN        93        KTY        1KKVE4829PL095385        HV         CO         CO         98050470193
11H855        TRAILER        IN        93        KTY        1KKVE4820PL095386        HV         CO         CO         98050470198
11H856        TRAILER        IN        93        KTY        1KKVE4822PL095387        HV         CO         CO         98050470200
11H857        TRAILER        IN        93        KTY        1KKVE4824PL095388        HV         CO         CO         98050470202
11H858        TRAILER        IN        93        KTY        1KKVE4826PL095389        HV         CO         CO         98050470207
11H859        TRAILER        IN        93        KTY        1KKVE4822PL095390        HV         CO         CO         98050470209
11H860        TRAILER        IN        93        KTY        1KKVE4824PL095391        HV         CO         CO         98050470212
11H861        TRAILER        IN        93        KTY        1KKVE4826PL095392        HV         CO         CO         98050470214
11H862        TRAILER        IN        93        KTY        1KKVE4828PL095393        HV         CO         CO         98050470216
11H863        TRAILER        IN        93        KTY        1KKVE482XPL095394        HV         CO         CO         98050470219
11H864        TRAILER        IN        93        KTY        1KKVE4821PL095395        HV         CO         CO         98050470221
11H865        TRAILER        IN        93        KTY        1KKVE4823PL095396        HV         CO         CO         98050470222
11H866        TRAILER        IN        93        KTY        1KKVE4825PL095397        HV         CO         CO         98050470223
11H867        TRAILER        IN        93        KTY        1KKVE4827PL095398        HV         CO         CO         98050470224
11H868        TRAILER        IN        93        KTY        1KKVE4829PL095399        HV         CO         CO         98050470225
11H869        TRAILER        IN        93        KTY        1KKVE4821PL095400        HV         CO         CO         98050470189
11H870        TRAILER        IN        93        KTY        1KKVE4823PL095401        HV         CO         CO         98050470190
11H872        TRAILER        IN        93        KTY        1KKVE4827PL095403        HV         CO         CO         98050470192

</TABLE>

<PAGE>

PAGE 14

LIST OF NORTH AMERICAN VAN LINES TITLED EQUIPMENT AS OF 10/30/99
<TABLE>
<CAPTION>
                             LIC                            SERIAL                                                    TITLE
UNIT          TYPE           ST        YR        MAKE       NUMBER                   DIV        SUB        FC         NUMBER
----          ----           --        --        ----       ------                   ---        ---        --         ------
<S>           <C>            <C>       <C>       <C>        <C>                      <C>        <C>        <C>        <C>
11H873        TRAILER        IN        93        KTY        1KKVE4829PL095404        HV         CO         CO         98050470194
11H874        TRAILER        IN        93        KTY        1KKVE4820PL095405        HV         CO         CO         98050470195
11H875        TRAILER        IN        93        KTY        1KKVE4822PL095406        HV         CO         CO         98050470196
11H876        TRAILER        IN        93        KTY        1KKVE4822PL095407        HV         CO         CO         98050470197
11H877        TRAILER        IN        93        KTY        1KKVE4826PL095408        HV         CO         CO         98050470199
11H878        TRAILER        IN        93        KTY        1KKVE4828PL095409        HV         CO         CO         98050470201
11H879        TRAILER        IN        93        KTY        1KKVE4824PL095410        HV         CO         CO         98050470203
11H880        TRAILER        IN        94        KTY        1KKVE4820RL096220        HV         CO         CO         98050470204
11H881        TRAILER        IN        94        KTY        1KKVE4822RL096221        HV         CO         CO         98050470205
11H882        TRAILER        IN        94        KTY        1KKVE4824RL096222        HV         CO         CO         98050470206
11H883        TRAILER        IN        94        KTY        1KKVE4826RL096223        HV         CO         CO         98050470208
11H884        TRAILER        IN        94        KTY        1KKVE4828RL096224        HV         CO         CO         98050470210
11H885        TRAILER        IN        94        KTY        1KKVE482XRL096225        HV         CO         CO         98050470211
11H886        TRAILER        IN        94        KTY        1KKVE4821RL096226        HV         CO         CO         98050470213
11H887        TRAILER        IN        94        KTY        1KKVE4823RL096227        HV         CO         CO         98050470215
11H888        TRAILER        IN        94        KTY        1KKVE4825RL096228        HV         CO         CO         98050470217
11H889        TRAILER        IN        94        KTY        1KKVE4827RL096229        HV         CO         CO         98050470218
11H890        TRAILER        IN        94        KTY        1KKVE4823RL096230        HV         CO         CO         98050470220
11H891        TRAILER        IN        94        KTY        1KKVE4825RL096231        HV         CO         CO         98050470231
11H892        TRAILER        IN        94        KTY        1KKVE4827RL096232        HV         CO         CO         98050470232
11H893        TRAILER        IN        94        KTY        1KKVE4829RL096233        HV         CO         CO         98050470233
11H895        TRAILER        IN        94        KTY        1KKVE4820RL096234        HV         CO         CO         98050470235
11H896        TRAILER        IN        94        KTY        1KKVE4822RL096235        HV         CO         CO         98050470236
11H897        TRAILER        IN        94        KTY        1KKVE4824RL096236        HV         CO         CO         98050470237
11H898        TRAILER        IN        94        KTY        1KKVE4826RL096237        HV         CO         CO         98050470239
11H899        TRAILER        IN        94        KTY        1KKVE4828RL096238        HV         CO         CO         98050470240
11H900        TRAILER        IN        94        KTY        1KKVE482XRL096239        HV         CO         CO         98050470242
11H901        TRAILER        IN        94        KTY        1KKVE4826RL096240        HV         CO         CO         98050470244
11H902        TRAILER        IN        94        KTY        1KKVE4828RL096241        HV         CO         CO         98050470246
11H903        TRAILER        IN        94        KTY        1KKVE482XRL096242        HV         CO         CO         98050470248
11H904        TRAILER        IN        94        KTY        1KKVE4821RL096243        HV         CO         CO         98050470250
11H905        TRAILER        IN        94        KTY        1KKVE4823RL096244        HV         CO         CO         98050470252
11H906        TRAILER        IN        94        KTY        1KKVE4825RL096245        HV         CO         CO         98050470253
11H907        TRAILER        IN        94        KTY        1KKVE4827RL096246        HV         CO         CO         98050470254
11H908        TRAILER        IN        94        KTY        1KKVE4829RL096247        HV         CO         CO         98050470256
11H909        TRAILER        IN        94        KTY        1KKVE4820RL096248        HV         CO         CO         98050470258
11H910        TRAILER        IN        94        KTY        1KKVE4822RL096249        HV         CO         CO         98050470259
11H911        TRAILER        IN        94        KTY        1KKVE4829RL096250        HV         CO         CO         98050470261
11H912        TRAILER        IN        94        KTY        1KKVE4820RL096251        HV         CO         CO         98050470263
11H913        TRAILER        IN        94        KTY        1KKVE4822RL096252        HV         CO         CO         98050470264
11H914        TRAILER        IN        94        KTY        1KKVE4824RL096253        HV         CO         CO         98050470265
11H915        TRAILER        IN        94        KTY        1KKVE4826RL096254        HV         CO         CO         98050470267
11H916        TRAILER        IN        94        KTY        1KKVE4828RL096255        HV         CO         CO         98050470269
11H917        TRAILER        IN        94        KTY        1KKVE482XRL096256        HV         CO         CO         98050470270
11H918        TRAILER        IN        94        KTY        1KKVE4821RL096257        HV         CO         CO         98050470272
11H919        TRAILER        IN        94        KTY        1KKVE4823RL096258        HV         CO         CO         98050470273
11H920        TRAILER        IN        94        KTY        1KKVE4825RL096259        HV         CO         CO         98050470275
11H921        TRAILER        IN        94        KTY        1KKVE4821RL096260        HV         CO         CO         98050470226
11H922        TRAILER        IN        94        KTY        1KKVE4823RL096261        HV         CO         CO         98050470227
11H923        TRAILER        IN        94        KTY        1KKVE4825RL096262        HV         CO         CO         98050470228
</TABLE>

<PAGE>

Page 15

LIST OF NORTH AMERICAN VAN LINES TITLED EQUIPMENT AS OF 10/30/99

<TABLE>
<CAPTION>

                             LIC                            SERIAL                                                    TITLE
UNIT          TYPE           ST        YR        MAKE       NUMBER                   DIV        SUB        FC         NUMBER
----          ----           ---       --        ----       ------                   ---        ---        --         -----
<S>           <C>            <C>       <C>       <C>        <C>                     <C>         <C>        <C>        <C>
11H925        TRAILER        IN        94        KTY        1KKVE4829RL096264        HV         CO         CO         98050470234
11H926        TRAILER        IN        94        KTY        1KKVE4820RL096265        HV         CO         CO         98050470238
11H927        TRAILER        IN        94        KTY        1KKVE4822RL096266        HV         CO         CO         98050470241
11H928        TRAILER        IN        94        KTY        1KKVE4824RL096267        HV         CO         CO         98050470243
11H929        TRAILER        IN        94        KTY        1KKVE4826RL096268        HV         CO         CO         98050470245
11H930        TRAILER        IN        94        KTY        1KKVE4828RL096269        HV         CO         CO         98050470247
11J764        TRAILER        IN        86        KTY        1KKVE4826GL076678        RS         CO         CO         98050470249
11J765        TRAILER        IN        86        KTY        1KKVE4828GL076679        RS         CL         LA         98050470251
11J766        TRAILER        IN        86        KTY        1KKVE4824GL076680        RS         CL         LA         98050470255
11J767        TRAILER        IN        86        KTY        1KKVE4826GL076681        RS         CO         CO         98050470257
11J768        TRAILER        IN        86        KTY        1KKVE4828GL076682        RS         CO         CO         98050470260
11J769        TRAILER        IN        86        KTY        1KKVE482XGL076683        RS         CL         LA         98050470262
11J770        TRAILER        IN        86        KTY        1KKVE4821GL076684        RS         CO         CO         98050470266
11J771        TRAILER        IN        86        KTY        1KKVE4823GL076685        RS         CO         CO         98050470268
11J772        TRAILER        IN        86        KTY        1KKVE4825GL076686        RS         CL         LA         98050470271
11J773        TRAILER        IN        86        KTY        1KKVE4827GLO76687        RS         CO         CO         98050470274
11J775        TRAILER        IN        86        KTY        1KKVE4820GL076689        RS         CO         CO         98050470276
11J776        TRAILER        IN        86        KTY        1KKVE4827GL076690        RS         CO         CO         98050470277
11J777        TRAILER        IN        86        KTY        1KKVE4829GL076691        RS         CL         LA         98050470278
11J778        TRAILER        IN        86        KTY        1KKVE4820GL076692        RS         CL         LA         98050470279
11J779        TRAILER        IN        86        KTY        1KKVE4822GL076693        RS         CL         LA         98050470280
11J780        TRAILER        IN        86        KTY        1KKVE4824GL076694        RS         CO         CO         98050470281
11J781        TRAILER        IN        86        KTY        1KKVE4826GL076695        RS         CL         LA         98050470282
11J782        TRAILER        IN        86        KTY        1KKVE4828GL076696        RS         CL         LA         98050470283
11J783        TRAILER        IN        86        KTY        1KKVE482XGL076697        RS         CO         CO         98050470284
11J784        TRAILER        IN        86        KTY        1KKVE4821GLO76698        RS         CL         LA         98050470285
11J785        TRAILER        IN        86        KTY        1KKVE4823GL076699        RS         CO         CO         98050470286
11J786        TRAILER        IN        86        KTY        1KKVE4826GL076700        RS         CO         CO         98050470287
11J787        TRAILER        IN        86        KTY        1KKVE4828GL076701        RS         CL         LA         98050470288
11J788        TRAILER        IN        86        KTY        1KKVE482XGL076702        RS         CO         CO         98050470289
11J789        TRAILER        IN        86        KTY        1KKVE4821GL076703        RS         CO         CO         98050470290
11J790        TRAILER        IN        86        KTY        1KKVE4823GL076704        RS         CO         CO         98050470291
11J791        TRAILER        IN        86        KTY        1KKVE4825GL076705        RS         CO         CO         98050470292
11J792        TRAILER        IN        86        KTY        1KKVE4827GL076706        RS         CL         LA         98050470293
11J793        TRAILER        IN        86        KTY        1KKVE4829GL076707        RS         CO         CO         98050470294
11J795        TRAILER        IN        86        KTY        1KKVE4822GL076709        RS         CO         CO         98050470295
11J796        TRAILER        IN        86        KTY        1KKVE4829GL076710        RS         CO         CO         98050470296
11J797        TRAILER        IN        86        KTY        1KKVE4820GL076711        RS         CO         CO         98050470297
11J798        TRAILER        IN        86        KTY        1KKVE4822GL076712        RS         CL         LA         98050470298
11J799        TRAILER        IN        86        KTY        1KKVE4824GL076713        RS         CO         CO         98050470299
11J800        TRAILER        IN        86        KTY        1KKVE4826GL076714        RS         CO         CO         98050470301
11J802        TRAILER        IN        86        KTY        1KKVE482XGL076716        RS         CO         CO         98050470304
11J803        TRAILER        IN        86        KTY        1KKVE4821GL076717        RS         CO         CO         98050470305
11J805        TRAILER        IN        86        KTY        1KKVE4825GL076719        RS         CO         CO         98050470307
11J806        TRAILER        IN        86        KTY        1KKVE4821GL076720        RS         CO         CO         98050470308
11J807        TRAILER        IN        86        KTY        1KKVE4823GL076721        RS         CL         LA         98050470309
11J808        TRAILER        IN        86        KTY        1KKVE4825GL076722        RS         CL         LA         98050470696
11J809        TRAILER        IN        86        KTY        1KKVE4827GLO76723        RS         CO         CO         98050470698
11J810        TRAILER        IN        86        KTY        1KKVE4829GL076724        RS         CO         CO         98050470700
11J811        TRAILER        IN        86        KTY        1KKVE4820GL076725        RS         CL         LA         98050470703

</TABLE>

<PAGE>

PAGE    16

LIST OF NORTH AMERICAN VAN LINES TITLED EQUIPMENT AS OF 10/30/99
<TABLE>
<CAPTION>

                             LIC                            SERIAL                                                    TITLE
UNIT          TYPE           ST        YR        MAKE       NUMBER                   DIV        SUB        FC         NUMBER
----          ----           ---       --        ----       ------                   ---        ---        --         ------
<S>           <C>            <C>       <C>       <C>        <C>                      <C>        <C>        <C>        <C>
11J812        TRAILER        IN        86        KTY        1KKVE4822GL076726        RS         CL         LA         98050470705
11J813        TRAILER        IN        86        KTY        1KKVE4824GL076727        RS         CL         LA         98050470707
11J814        TRAILER        IN        86        KTY        1KKVE4826GL076728        RS         CO         CO         98050470710
11J815        TRAILER        IN        86        KTY        1KKVE4828GL076729        RS         CL         LA         98050470712
11J816        TRAILER        IN        86        KTY        1KKVE4824GL076730        RS         CO         CO         98050470714
11J817        TRAILER        IN        86        KTY        1KKVE4826GL076731        RS         CO         CO         98050470716
11J818        TRAILER        IN        86        KTY        1KKVE4828GL076732        RS         CO         CO         98050470718
11J819        TRAILER        IN        86        KTY        1KKVE482XGL076733        RS         CL         LA         98050470721
11J821        TRAILER        IN        86        KTY        1KKVE4823GL076735        RS         CL         LA         98050470723
11J822        TRAILER        IN        86        KTY        1KKVE4825GL076736        RS         CO         CO         98050470726
11J823        TRAILER        IN        86        KTY        1KKVE4827GL076737        RS         CL         LA         98050470728
11J824        TRAILER        IN        86        KTY        1KKVE4829GL076738        RS         CL         LA         98050470730
11J825        TRAILER        IN        86        KTY        1KKVE4820GL076739        RS         CO         CO         98050470732
11J827        TRAILER        IN        86        KTY        1KKVE4829GL076741        RS         CL         LA         98050470735
11J828        TRAILER        IN        86        KTY        1KKVE4820GL076742        RS         CO         CO         98050470737
11J829        TRAILER        IN        86        KTY        1KKVE4822GL076743        RS         CO         CO         98050470739
11J830        TRAILER        IN        86        KTY        1KKVE4824GL076744        RS         CL         LA         98050470742
11J831        TRAILER        IN        86        KTY        1KKVE4826GL076745        RS         CO         CO         98050470744
11J832        TRAILER        IN        86        KTY        1KKVE4828GL076746        RS         CO         CO         98050470747
11J833        TRAILER        IN        86        KTY        1KKVE482XGL076747        RS         CO         CO         98050470750
11J834        TRAILER        IN        86        KTY        1KKVE4821GL076748        RS         CO         CO         98050470751
11J835        TRAILER        IN        86        KTY        1KKVE4823GL076749        RS         CO         CO         98050470752
11J836        TRAILER        IN        86        KTY        1KKVE482XGL076750        RS         CO         CO         98050470753
11J837        TRAILER        IN        86        KTY        1KKVE4821GL076751        RS         CO         CO         98050470754
11J838        TRAILER        IN        86        KTY        1KKVE4823GL076752        RS         CO         CO         98050470756
11J839        TRAILER        IN        86        KTY        1KKVE4825GL076753        RS         CL         LA         98050470757
11J840        TRAILER        IN        86        KTY        1KKVE4827GL076754        HV         CO         CO         98050470759
11J841        TRAILER        IN        86        KTY        1KKVE4829GL076755        HV         CO         CO         98050470761
11J842        TRAILER        IN        86        KTY        1KKVE4820GL076756        HV         CO         CO         98050470763
11J843        TRAILER        IN        86        KTY        1KKVE4822GL076757        RS         CO         CO         98050470765
11J844        TRAILER        IN        86        KTY        1KKVE4824GL076758        HV         CO         CO         98050470767
11J845        TRAILER        IN        86        KTY        1KKVE4826GL076759        RS         CL         LA         98050470769
11J847        TRAILER        IN        86        KTY        1KKVE4824GL076761        RS         CL         LA         98050470771
11J848        TRAILER        IN        86        KTY        1KKVE4826GL076762        RS         CO         CO         98050470773
11J850        TRAILER        IN        86        KTY        1KKVE482XGL076764        HV         CO         CO         98050470775
11J851        TRAILER        IN        86        KTY        1KKVE4821GL076975        RS         CO         CO         98050470776
11J852        TRAILER        IN        86        KTY        1KKVE4823GL076976        RS         CL         LA         98050470777
11J853        TRAILER        IN        86        KTY        1KKVE4825GL076977        RS         CL         LA         98050470778
11J879        TRAILER        IN        86        KTY        1KKVE4821GL076765        HV         CO         CO         98050470779
11J880        TRAILER        IN        86        KTY        1KKVE4823GL076766        HV         CO         CO         98050470780
11J881        TRAILER        IN        86        KTY        1KKVE4825GL076767        HV         CO         CO         98050470799
11J882        TRAILER        IN        86        KTY        1KKVE4827GL076768        RS         CO         CO         98050470802
11J883        TRAILER        IN        86        KTY        1KKVE4829GL076769        HV         CO         CO         98050470804
11J884        TRAILER        IN        86        KTY        1KKVE4825GL076770        HV         CO         CO         98050470805
11J885        TRAILER        IN        86        KTY        1KKVE4827GL076771        HV         CO         CO         98050470806
11J886        TRAILER        IN        86        KTY        1KKVE4829GL076772        HV         CO         CO         98050470809
11J887        TRAILER        IN        86        KTY        1KKVE4820GL076773        HV         CO         CO         98050470537
11J888        TRAILER        IN        86        KTY        1KKVE4822GL076774        HV         CL         LA         98050470538
11J889        TRAILER        IN        86        KTY        1KKVE4824GL076775        RS         CO         CO         98050470540
11J890        TRAILER        IN        86        KTY        1KKVE4826GL076776        HV         CO         CO         98050470542

</TABLE>

<PAGE>

PAGE 17

LIST OF NORTH AMERICAN VAN LINES TITLED EQUIPMENT AS OF 10/30/99

<TABLE>
<CAPTION>

                             LIC                            SERIAL                                                    TITLE

UNIT               TYPE      ST        YR        MAKE       NUMBER                   DIV        SUB        FC         NUMBER
----               ----      --        --        ----       ------                   ---        ---        --         ------
<S>                <C>       <C>       <C>       <C>        <C>                      <C>        <C>        <C>        <C>
11J891             TRAILER   IN        86        KTY        1KKVE4828GL076777        HV         CO         CO         98050470544
11J892             TRAILER   IN        86        KTY        1KKVE482XGL076778        HV         CO         CO         98050470546
11J893             TRAILER   IN        86        KTY        1KKVE4821GL076779        HV         CO         CO         98050470548
11J894             TRAILER   IN        86        KTY        1KKVE4828GL076780        HV         CO         CO         98050470550
11J895             TRAILER   IN        86        KTY        1KKVE482XGL076781        HV         CO         CO         98050470552
11J896             TRAILER   IN        86        KTY        1KKVE4821GL076782        HV         CO         CO         98050470554
11J897             TRAILER   IN        86        KTY        1KKVE4823GL076783        HV         CO         CO         98050470556
11J898             TRAILER   IN        86        KTY        1KKVE4825GL076784        HV         CL         LA         98050470558
11J928             TRAILER   IN        87        KTY        1KKVE4729HL078251        HV         DC         02         98050470560
11J929             TRAILER   IN        87        KTY        1KKVE4720HL078252        HV         CL         LA         98050470564
11J932             TRAILER   IN        87        KTY        1KKVE4726HL078255        HV         CO         CO         98050470565
11J934             TRAILER   IN        87        KTY        1KKVE472XHL078257        HV         CO         CO         98050470568
11J935             TRAILER   IN        87        KTY        1KKVE4721HL078258        HV         CO         CO         98050470570
11J937             TRAILER   IN        87        KTY        1KKVE472XHL078260        HV         CO         CO         98050470572
11J938             TRAILER   IN        87        KTY        1KKVE4721HL078261        HV         CO         CO         98050470575
11J940             TRAILER   IN        87        KTY        1KKVE4725HL078263        HV         CO         CO         98050470577
11J941             TRAILER   IN        87        KTY        1KKVE4727HL078264        HV         CL         LA         98050470579
11J942             TRAILER   IN        87        KTY        1KKVE4729HL078265        HV         CL         LA         98050470580
11J943             TRAILER   IN        87        KTY        1KKVE4720HL078266        HV         CO         CO         98050470582
11J944             TRAILER   IN        87        KTY        1KKVE4722HL078267        HV         DC         02         98050470583
11J945             TRAILER   IN        87        KTY        1KKVE4724HL078268        HV         CO         CO         98050470586
11J946             TRAILER   IN        87        KTY        1KKVE4726HL078269        RS         CO         CO         98050470588
11J947             TRAILER   IN        87        KTY        1KKVE4722HL078270        HV         CO         CO         98050470590
11J948             TRAILER   IN        87        KTY        1KKVE4724HL078271        HV         CO         CO         98050470591
11J949             TRAILER   IN        87        KTY        1KKVE4726HL078272        HV         CO         CO         98050470592
11J950             TRAILER   IN        87        KTY        1KKVE4728HL078273        HV         CO         CO         98050470594
11J952             TRAILER   IN        87        KTY        1KKVE4721HL078275        HV         CL         LA         98050470596
11J954             TRAILER   IN        87        KTY        1KKVE4725HL078277        HV         CO         CO         98050470598
11J956             TRAILER   IN        87        KTY        1KKVE4729HL078279        RS         CO         CO         98050470599
11J958             TRAILER   IN        87        KTY        1KKVE4727HL078281        HV         CO         CO         98050470602
11J959             TRAILER   IN        87        KTY        1KKVE4729HL078282        HV         CO         CO         98050470603
11J960             TRAILER   IN        87        KTY        1KKVE4720HL078283        RS         CL         LA         98050470606
11J961             TRAILER   IN        87        KTY        1KKVE4722HL078284        HV         CO         CO         98050470607
11J962             TRAILER   IN        87        KTY        1KKVE4724HL078285        HV         CO         CO         98050470608
11J964             TRAILER   IN        87        KTY        1KKVE4728HL078287        HV         CL         LA         98050470612
11J966             TRAILER   IN        87        KTY        1KKVE4721HL078289        HV         CO         CO         98050470614
11J968             TRAILER   IN        87        KTY        1KKVE472XHL078291        HV         CL         LA         98050470616
11J969             TRAILER   IN        87        KTY        1KKVE4721HL078292        HV         CO         CO         98050470617
11J970             TRAILER   IN        87        KTY        1KKVE4723HL078293        RS         CL         LA         98050470619
11J971             TRAILER   IN        87        KTY        1KKVE4725HL078294        HV         CO         CO         98050470621
11J972             TRAILER   IN        87        KTY        1KKVE4727HL078295        HV         DC         08         98050470623
11J973             TRAILER   IN        87        KTY        1KKVE4729HL078296        HV         CO         CO         98050470624
11J974             TRAILER   IN        87        KTY        1KKVE4720HL078297        HV         CO         CO         98050470626
11J975             TRAILER   IN        87        KTY        1KKVE4722HL078298        HV         CO         CO         98050470627
11J976             TRAILER   IN        87        KTY        1KKVE4724HL078299        RS         CL         LA         98050470629
11J977             TRAILER   IN        87        KTY        1KKVE4727HL078300        RS         CO         CO         98050470631
11J978             TRAILER   IN        87        KTY        1KKVE4729HL078301        HV         CL         LA         98050470633
11J980             TRAILER   IN        87        KTY        1KKVE4722HL078303        HV         CO         CO         98050470635
11J987             TRAILER   IN        87        KTY        1KKVE472XHL078310        HV         CO         CO         98050470637
11J988             TRAILER   IN        87        KTY        1KKVE4721HL078311        RS         CL         LA         98050470639

</TABLE>

<PAGE>

PAGE 18

LIST OF NORTH AMERICAN VAN LINES TITLED EQUIPMENT AS OF 10/30/99
<TABLE>
<CAPTION>

                             LIC                            SERIAL                                                    TITLE
UNIT          TYPE           ST        YR        MAKE       NUMBER                   DIV        SUB        FC         NUMBER
----          ----           --        --        ----       ------                   ---        ---        --         ------
<S>           <C>            <C>       <C>       <C>        <C>                      <C>        <C>        <C>        <C>
11J989        TRAILER        IN        87        KTY        1KKVE4723HL078312        HV         CO         CO         98050470640
11J990        TRAILER        IN        87        KTY        1KKVE4725HL078313        HV         CO         CO         98050470642
11J991        TRAILER        IN        87        KTY        1KKVE4727HL078314        HV         CL         LA         98050470643
11J992        TRAILER        IN        87        KTY        1KKVE4729HL078315        HV         CO         CO         98050470645
11J994        TRAILER        IN        87        KTY        1KKVE4722HL078317        HV         CO         CO         98050470647
11J995        TRAILER        IN        87        KTY        1KKVE4724HL078318        HV         CL         LA         98050470648
11J997        TRAILER        IN        87        KTY        1KKVE4722HL078320        HV         CO         CO         98050470651
11J998        TRAILER        IN        87        KTY        1KKVE4724HL078321        HV         CO         CO         98050470652
11K000        TRAILER        IN        87        KTY        1KKVE4728HL078323        HV         CO         CO         98050470658
11K003        TRAILER        IN        87        KTY        1KKVE4723HL078326        HV         CO         CO         98050470660
11K006        TRAILER        IN        87        KTY        1KKVE4826HL078948        RS         CO         CO         98050470663
11K007        TRAILER        IN        87        KTY        1KKVE4828HL078949        RS         CO         CO         98050470664
11K008        TRAILER        IN        87        KTY        1KKVE4824HL078950        RS         CO         CO         98050470667
11K009        TRAILER        IN        87        KTY        1KKVE4826HL078951        RS         CO         CO         98050470668
11K010        TRAILER        IN        87        KTY        1KKVE4828HL078952        RS         CO         CO         98050470669
11K011        TRAILER        IN        87        KTY        1KKVE482XHL078953        HV         CL         LA         98050470671
11K012        TRAILER        IN        87        KTY        1KKVE4821HL078954        RS         CL         LA         98050470673
11K013        TRAILER        IN        87        KTY        1KKVE4823HL078955        RS         CO         CO         98050470675
11K014        TRAILER        IN        87        KTY        1KKVE4825HL078956        RS         CO         CO         98050470677
11K015        TRAILER        IN        87        KTY        1KKVE4827HL078957        RS         CO         CO         98050470679
11K016        TRAILER        IN        87        KTY        1KKVE4829HL078958        RS         CO         CO         98050470681
11K017        TRAILER        IN        87        KTY        1KKVE4820HL078959        HV         CO         CO         98050470683
11K018        TRAILER        IN        87        KTY        1KKVE4827HL078960        RS         CO         CO         98050470685
11K019        TRAILER        IN        87        KTY        1KKVE4829HL078961        HV         CO         CO         98050470687
11K020        TRAILER        IN        87        KTY        1KKVE4820HL078962        RS         CO         CO         98050470693
11K021        TRAILER        IN        87        KTY        1KKVE4822HL078963        RS         CO         CO         98050470694
11K022        TRAILER        IN        87        KTY        1KKVE4824HL078964        HV         CO         CO         98050470695
11K023        TRAILER        IN        87        KTY        1KKVE4826HL078965        RS         CO         CO         98050470697
11K024        TRAILER        IN        87        KTY        1KKVE4828HL078966        HV         CO         CO         98050470699
11K025        TRAILER        IN        87        KTY        1KKVE482XHL078967        RS         CL         LA         98050470701
11K026        TRAILER        IN        87        KTY        1KKVE4821HL078968        RS         CO         CO         98050470702
11K027        TRAILER        IN        87        KTY        1KKVE4823HL078969        HV         CO         CO         98050470704
11K029        TRAILER        IN        87        KTY        1KKVE4821HL078971        RS         CL         LA         98050470706
11K030        TRAILER        IN        87        KTY        1KKVE4823HL078972        RS         CO         CO         98050470708
11K031        TRAILER        IN        87        KTY        1KKVE4825HL078973        RS         CO         CO         98050470709
11K032        TRAILER        IN        87        KTY        1KKVE4827HL078974        HV         CO         CO         98050470711
11K033        TRAILER        IN        87        KTY        1KKVE4829HL078975        RS         CO         CO         98050470713
11K034        TRAILER        IN        87        KTY        1KKVE4820HL078976        HV         CO         CO         98050470715
11K035        TRAILER        IN        87        KTY        1KKVE4822HL078977        RS         CO         CO         98050470717
11K036        TRAILER        IN        87        KTY        1KKVE4824HL078978        RS         CO         CO         98050470719
11K037        TRAILER        IN        87        KTY        1KKVE4826HL078979        RS         CO         CO         98050470720
11K038        TRAILER        IN        87        KTY        1KKVE4822HL078980        RS         CO         CO         98050470722
11K039        TRAILER        IN        87        KTY        1KKVE4824HL078981        HV         CO         CO         98050470724
11K040        TRAILER        IN        87        KTY        1KKVE4826HL078982        RS         CO         CO         98050470725
11K041        TRAILER        IN        87        KTY        1KKVE4828HL078983        RS         CO         CO         98050470727
11K042        TRAILER        IN        87        KTY        1KKVE482XHL078984        HV         CO         CO         98050470729
11K044        TRAILER        IN        87        KTY        1KKVE4823HL078986        RS         CO         CO         98050470731
11K045        TRAILER        IN        87        KTY        1KKVE4825HL078987        RS         CO         CO         98050470733
11K046        TRAILER        IN        87        KTY        1KKVE4827HL078988        RS         CO         CO         98050470734
11K047        TRAILER        IN        87        KTY        1KKVE4829HL078989        HV         CO         CO         98050470736

</TABLE>

<PAGE>

PAGE        19

LIST OF NORTH AMERICAN VAN LINES TITLED EQUIPMENT AS OF 10/30/99

<TABLE>
<CAPTION>
                             LIC                            SERIAL                                                    TITLE
UNIT          TYPE           ST        YR        MAKE       NUMBER                   DIV        SUB        FC         NUMBER
----          ----           ---       --        ----       ------                   ---        ---        --         ------
<S>           <C>            <C>       <C>       <C>        <C>                      <C>        <C>        <C>        <C>
11K048        TRAILER        IN        87        KTY        1KKVE4825HL078990        RS         CO         CO         98050470738
11K049        TRAILER        IN        87        KTY        1KKVE4827HL078991        RS         CO         CO         98050470740
11K050        TRAILER        IN        87        KTY        1KKVE4829HL078992        HV         CO         CO         98050470741
11K051        TRAILER        IN        87        KTY        1KKVE4820HL078993        RS         CO         CO         98050470743
11K052        TRAILER        IN        87        KTY        1KKVE4822HL078994        RS         CO         CO         98050470745
11K053        TRAILER        IN        87        KTY        1KKVE4824HL078995        RS         CO         CO         98050470746
11K054        TRAILER        IN        87        KTY        1KKVE4826HL078996        RS         CO         CO         98050470748
11K056        TRAILER        IN        87        KTY        1KKVE482XHL078998        RS         CO         CO         98050470749
11K057        TRAILER        IN        87        KTY        1KKVE4821HL078999        RS         CO         CO         98050470755
11K060        TRAILER        IN        87        KTY        1KKVE4826HL079002        RS         CO         CO         98050470760
11K061        TRAILER        IN        87        KTY        1KKVE4828HL079003        HV         CO         CO         98050470762
11K062        TRAILER        IN        87        KTY        1KKVE482XHL079004        HV         CL         LA         98050470764
11K063        TRAILER        IN        87        KTY        1KKVE4821HL079005        RS         CO         CO         98050470766
11K064        TRAILER        IN        87        KTY        1KKVE4823HL079006        HV         CO         CO         98050470768
11K065        TRAILER        IN        87        KTY        1KKVE4825HL079007        RS         CO         CO         98050470770
11K066        TRAILER        IN        87        KTY        1KKVE4827HL079008        HV         CO         CO         98050470772
11K068        TRAILER        IN        87        KTY        1KKVE4825HL079010        RS         CL         LA         98050470774
11K069        TRAILER        IN        87        KTY        1KKVE4827HL079011        RS         CO         CO         98050470781
11K070        TRAILER        IN        87        KTY        1KKVE4829HL079012        RS         CO         CO         98050470782
11K071        TRAILER        IN        87        KTY        1KKVE4820HL079013        RS         CO         CO         98050470783
11K072        TRAILER        IN        87        KTY        1KKVE4822HL079014        RS         CO         CO         98050470784
11K074        TRAILER        IN        87        KTY        1KKVE4826HL079016        RS         CO         CO         98050470785
11K075        TRAILER        IN        87        KTY        1KKVE4828HL079017        RS         CO         CO         98050470786
11K076        TRAILER        IN        87        KTY        1KKVE482XHL079018        RS         CL         LA         98050470787
11K077        TRAILER        IN        87        KTY        1KKVE4821HL079019        HV         CO         CO         98050470788
11K078        TRAILER        IN        87        KTY        1KKVE4828HL079020        RS         CO         CO         98050470789
11K079        TRAILER        IN        87        KTY        1KKVE482XHL079021        RS         CO         CO         98050470790
11K080        TRAILER        IN        87        KTY        1KKVE4821HL079022        RS         CO         CO         98050470791
11K081        TRAILER        IN        87        KTY        1KKVE4823HL079023        RS         CO         CO         98050470792
11K082        TRAILER        IN        87        KTY        1KKVE4825HL079024        RS         CO         CO         98050470793
11K084        TRAILER        IN        87        KTY        1KKVE4829HL079026        RS         CO         CO         98050470794
11K085        TRAILER        IN        87        KTY        1KKVE4820HL079027        HV         CO         CO         98050470795
11K086        TRAILER        IN        87        KTY        1KKVE4822HL079028        RS         CO         CO         98050470796
11K087        TRAILER        IN        87        KTY        1KKVE4824HL079029        RS         CO         CO         98050470797
11K090        TRAILER        IN        87        KTY        1KKVE4824HL079032        RS         CO         CO         98050470798
11K091        TRAILER        IN        87        KTY        1KKVE4826HL079033        RS         CL         LA         98050470800
11K092        TRAILER        IN        87        KTY        1KKVE4828HL079034        RS         CO         CO         98050470801
11K093        TRAILER        IN        87        KTY        1KKVE482XHL079035        RS         CO         CO         98050470803
11K094        TRAILER        IN        87        KTY        1KKVE4821HL079036        HV         CO         CO         98050470807
11K095        TRAILER        IN        87        KTY        1KKVE4823HL079037        HV         CO         CO         98050470808
11K096        TRAILER        IN        87        KTY        1KKVE4825HL079038        RS         CO         CO         98050470810
11K097        TRAILER        IN        87        KTY        1KKVE4827HL079039        HV         CO         CO         98050470811
11K098        TRAILER        IN        87        KTY        1KKVE4823HL079040        RS         CO         CO         98050470813
11K099        TRAILER        IN        87        KTY        1KKVE4825HL079041        RS         CO         CO         98050470814
11K100        TRAILER        IN        87        KTY        1KKVE4827HL079042        RS         CO         CO         98050470816
11K101        TRAILER        IN        87        KTY        1KKVE4829HL079043        RS         CO         CO         98050470820
11K102        TRAILER        IN        87        KTY        1KKVE4820HL079044        RS         CO         CO         98050470822
11K103        TRAILER        IN        87        KTY        1KKVE4822HL079045        RS         CO         CO         98050470823
11K104        TRAILER        IN        87        KTY        1KKVE4824HL079046        RS         CL         LA         98050470824
11K111        TRAILER        IN        87        KTY        1KKVE4828HL079048        RS         CO         CO         98050470826
</TABLE>

<PAGE>

PAGE        20

LIST OF NORTH AMERICAN VAN LINES TITLED EQUIPMENT AS OF 10/30/99

<TABLE>
<CAPTION>
                             LIC                            SERIAL                                                    TITLE
UNIT          TYPE           ST        YR        MAKE       NUMBER                   DIV        SUB        FC         NUMBER
----          ----           ---       --        ----       ------                   ---        ---        --         ------
<S>           <C>            <C>       <C>       <C>        <C>                      <C>        <C>        <C>        <C>
11K112        TRAILER        IN        87        KTY        1KKVE482XHL079049        HV         CO         CO         98050473983
11K113        TRAILER        IN        87        KTY        1KKVE4826HL079050        RS         CL         LA         98050470827
11K114        TRAILER        IN        87        KTY        1KKVE4828HL079051        RS         CO         CO         98050470829
11K115        TRAILER        IN        87        KTY        1KKVE482XHL079052        RS         CO         CO         98050470831
11K116        TRAILER        IN        87        KTY        1KKVE4821HL079053        RS         CO         CO         98050470832
11K117        TRAILER        IN        87        KTY        1KKVE4823HL079054        HV         CO         CO         98050470833
11K122        TRAILER        IN        91        KTY        1KKVE4821ML090273        HV         CO         CO         98050470834
11K184        TRAILER        IN        91        KTY        1KKVE4823ML090274        HV         CO         CO         98050470835
11K197        TRAILER        IN        91        KTY        1KKVE4825ML090275        HV         CO         CO         98050470836
11K332        TRAILER        IN        91        KTY        1KKVE4827ML090276        HV         CO         CO         98050470837
11K337        TRAILER        IN        87        KTY        1KKVE4827HL080160        RS         CO         CO         98184473048
11K340        TRAILER        IN        91        KTY        1KKVE4829ML090277        HV         CO         CO         98050470838
11K341        TRAILER        IN        91        KTY        1KKVE4820ML090278        HV         CO         CO         98050470839
11K342        TRAILER        IN        91        KTY        1KKVE4822ML090279        HV         CO         CO         98050470840
11K343        TRAILER        IN        91        KTY        1KKVE4829ML090280        HV         CO         CO         98050470841
11K344        TRAILER        IN        91        KTY        1KKVE4820ML090281        HV         CO         CO         98050470842
11K345        TRAILER        IN        91        KTY        1KKVE4822ML090282        HV         CO         CO         98050470843
11K346        TRAILER        IN        91        KTY        1KKVE4824ML090283        HV         CO         CO         98050470844
11K347        TRAILER        IN        91        KTY        1KKVE4826ML090284        HV         CO         CO         98050470845
11K352        TRAILER        IN        87        KTY        1KKVE4720HL080325        HV         CO         CO         98050470846
11K353        TRAILER        IN        87        KTY        1KKVE4722HL080326        HV         CO         CO         98050470847
11K357        TRAILER        IN        87        KTY        1KKVE4724HL080330        HV         CO         CO         98050470848
11K358        TRAILER        IN        87        KTY        1KKVE4726HL080331        HV         CO         CO         98050470849
11K360        TRAILER        IN        87        KTY        1KKVE472XHL080333        HV         CO         CO         98050470850
11K362        TRAILER        IN        87        KTY        1KKVE4723HL080335        HV         CO         CO         98050470851
11K365        TRAILER        IN        87        KTY        1KKVE4729HL080338        HV         CO         CO         98050470852
11K366        TRAILER        IN        87        KTY        1KKVE4720HL080339        RS         CL         LA         98050470853
11K367        TRAILER        IN        87        KTY        1KKVE4727HL080340        HV         CO         CO         98050470854
11K368        TRAILER        IN        87        KTY        1KKVE4729HL080341        RS         CL         LA         98050470855
11K371        TRAILER        IN        87        KTY        1KKVE4724HL080344        HV         CO         CO         98050470856
11K372        TRAILER        IN        87        KTY        1KKVE4726HL080345        HV         CO         CO         98050470857
11K375        TRAILER        IN        87        KTY        1KKVE4721HL080348        HV         DC         02         98050470858
11K376        TRAILER        IN        87        KTY        1KKVE4825HL080349        HV         CO         CO         98050470859
11K377        TRAILER        IN        87        KTY        1KKVE4821HL080350        HV         CO         CO         98050470860
11K379        TRAILER        IN        87        KTY        1KKVE4825HL080352        RS         CO         CO         98050470861
11K380        TRAILER        IN        87        KTY        1KKVE4827HL080353        HV         CO         CO         98050470862
11K381        TRAILER        IN        87        KTY        1KKVE4829HL080354        HV         CO         CO         98050470863
11K382        TRAILER        IN        87        KTY        1KKVE4820HL080355        RS         CO         CO         98050470864
11K384        TRAILER        IN        87        KTY        1KKVE4824HL080357        RS         CO         CO         98050470865
11K385        TRAILER        IN        87        KTY        1KKVE4826HL080358        HV         CO         CO         98050470866
11K386        TRAILER        IN        87        KTY        1KKVE4828HL080359        HV         CO         CO         98050470867
11K387        TRAILER        IN        87        KTY        1KKVE4824HL080360        RS         CO         CO         98050470868
11K388        TRAILER        IN        87        KTY        1KKVE4826HL080361        RS         CL         LA         98050470869
11K389        TRAILER        IN        87        KTY        1KKVE4828HL080362        HV         CO         CO         98050470870
11K390        TRAILER        IN        87        KTY        1KKVE482XHL080363        RS         CO         CO         98050470871
11K391        TRAILER        IN        87        KTY        1KKVE4821HL080364        RS         CO         CO         98050470872
11K392        TRAILER        IN        87        KTY        1KKVE4823HL080365        HV         CO         CO         98050470873
11K393        TRAILER        IN        87        KTY        1KKVE4825HL080366        RS         CO         CO         98050470812
11K394        TRAILER        IN        87        KTY        1KKVE4827HL080367        HV         CO         CO         98050470815
11K395        TRAILER        IN        87        KTY        1KKVE4829HL080368        HV         CO         CO         98050470817
</TABLE>

<PAGE>

PAGE        21

LIST OF NORTH AMERICAN VAN LINES TITLED EQUIPMENT AS OF 10/30/99

<TABLE>
<CAPTION>
                             LIC                            SERIAL                                                    TITLE
UNIT          TYPE           ST        YR        MAKE       NUMBER                   DIV        SUB        FC         NUMBER
----          ----           ---       --        ----       ------                   ---        ---        --         ------
<S>           <C>            <C>       <C>       <C>        <C>                      <C>        <C>        <C>        <C>
11K396          TRAILER         IN        87        KTY       1KKVE4820HL080369        RS         CO         CO         98050470818
11K397          TRAILER         IN        87        KTY       1KKVE4827HL080370        HV         CO         CO         98050470819
11K398          TRAILER         IN        87        KTY       1KKVE4829HL080371        RS         CL         LA         98050470821
11K399          TRAILER         IN        87        KTY       1KKVE4820HL080372        HV         CO         CO         98050470825
11K400          TRAILER         IN        87        KTY       1KKVE4822HL080373        HV         CO         CO         98050470828
11K439          TRAILER         IN        91        KTY       1KKVE4828ML090285        HV         CO         CO         98050470830
11K441          TRAILER         IN        88        KTY       1KKVE4827JL081525        HV         CO         CO         98050470874
11K442          TRAILER         IN        88        KTY       1KKVE4829JL081526        HV         CO         CO         98050470875
11K443          TRAILER         IN        88        KTY       1KKVE4820JL081527        HV         CO         CO         98050470876
11K444          TRAILER         IN        88        KTY       1KKVE4822JL081528        RS         CO         CO         98050470877
11K445          TRAILER         IN        88        KTY       1KKVE4824JL081529        RS         CO         CO         98050470878
11K446          TRAILER         IN        88        KTY       1KKVE4820JL081530        HV         CO         CO         98050470879
11K447          TRAILER         IN        88        KTY       1KKVE4822JL081531        HV         CO         CO         98050470880
11K448          TRAILER         IN        88        KTY       1KKVE4824JL081532        RS         CO         CO         98050470881
11K449          TRAILER         IN        88        KTY       1KKVE4826JL081533        HV         CO         CO         98050470882
11K450          TRAILER         IN        88        KTY       1KKVE4828JL081534        HV         CO         CO         98050470883
11K451          TRAILER         IN        88        KTY       1KKVE482XJL081535        HV         CO         CO         98050470884
11K452          TRAILER         IN        88        KTY       1KKVE4821JL081536        HV         CO         CO         98050470885
11K453          TRAILER         IN        88        KTY       1KKVE4823JL081537        HV         CO         CO         98050470886
11K454          TRAILER         IN        88        KTY       1KKVE4825JL081538        RS         CO         CO         98050470887
11K455          TRAILER         IN        88        KTY       1KKVE4827JL081539        HV         CO         CO         98050470888
11K456          TRAILER         IN        88        KTY       1KKVE4823JL081540        RS         CO         CO         98050470889
11K457          TRAILER         IN        88        KTY       1KKVE4825JL081541        HV         CO         CO         98050470890
11K458          TRAILER         IN        88        KTY       1KKVE4827JL081542        HV         CO         CO         98050470891
11K459          TRAILER         IN        88        KTY       1KKVE4829JL081543        HV         CO         CO         98050470892
11K460          TRAILER         IN        88        KTY       1KKVE4820JL081544        HV         CO         CO         98050470893
11K462          TRAILER         IN        88        KTY       1KKVE4824JL081546        HV         CO         CO         98050470895
11K463          TRAILER         IN        88        KTY       1KKVE4826JL081547        HV         CO         CO         98050470896
11K464          TRAILER         IN        88        KTY       1KKVE4828JL081548        HV         CO         CO         98050470897
11K465          TRAILER         IN        88        KTY       1KKVE482XJL081549        HV         CO         CO         98050470898
11K487          TRAILER         IN        91        KTY       1KKVE482XML090286        HV         CO         CO         98050470899
11K513          TRAILER         IN        88        KTY       1KKVE4825JL081698        HV         CO         CO         98050470900
11K514          TRAILER         IN        88        KTY       1KKVE4827JL081699        RS         CO         CO         98050470901
11K515          TRAILER         IN        88        KTY       1KKVE482XJL081700        HV         CO         CO         98050470902
11K517          TRAILER         IN        88        KTY       1KKVE4823JL081702        RS         CO         CO         98050470903
11K518          TRAILER         IN        88        KTY       1KKVE4825JL081703        HV         CL         LA         98050470904
11K519          TRAILER         IN        88        KTY       1KKVE4827JL081704        HV         CL         LA         98050470905
11K520          TRAILER         IN        88        KTY       1KKVE4829JL081705        HV         CO         CO         98050470906
11K521          TRAILER         IN        88        KTY       1KKVE4820JL081706        HV         CO         CO         98050470907
11K522          TRAILER         IN        88        KTY       1KKVE4822JL081707        RS         CO         CO         98050470908
11K523          TRAILER         IN        88        KTY       1KKVE4824JL081708        HV         CO         CO         98050470909
11K524          TRAILER         IN        88        KTY       1KKVE4826JL081709        RS         CO         CO         98050470910
11K525          TRAILER         IN        88        KTY       1KKVE4822JL081710        RS         CO         CO         98050470911
11K526          TRAILER         IN        88        KTY       1KKVE4824JL081711        RS         CO         CO         98050470912
11K527          TRAILER         IN        88        KTY       1KKVE4826JL081712        HV         CO         CO         98050470913
11K528          TRAILER         IN        88        KTY       1KKVE4828JL081713        RS         CO         CO         98050470914
11K529          TRAILER         IN        88        KTY       1KKVE482XJL081714        RS         CO         CO         98050470915
11K530          TRAILER         IN        88        KTY       1KKVE4821JL081715        HV         CO         CO         98050470916
11K531          TRAILER         IN        88        KTY       1KKVE4823JL081716        HV         CO         CO         98050470917
11K532          TRAILER         IN        88        KTY       1KKVE4825JL081717        RS         CO         CO         98050470918
</TABLE>

<PAGE>

PAGE 22

LIST OF NORTH AMERICAN VAN LINES TITLED EQUIPMENT AS OF 10/30/99

<TABLE>
<CAPTION>

                             LIC                            SERIAL                                                    TITLE
UNIT          TYPE           ST        YR        MAKE       NUMBER                   DIV        SUB        FC         NUMBER
----          ----           ---       --        ----       ------                   ---        ---        --         ------
<S>           <C>            <C>       <C>       <C>        <C>                      <C>        <C>        <C>        <C>
11K533        TRAILER        IN        88        KTY        1KKVE4827JL081718        HV         CO         CO         98050470919
11K534        TRAILER        IN        88        KTY        1KKVE4829JL081719        HV         CO         CO         98050470920
11K535        TRAILER        IN        88        KTY        1KKVE4825JL081720        HV         CO         CO         98050470921
11K536        TRAILER        IN        88        KTY        1KKVE4827JL081721        RS         CO         CO         98050470922
11K537        TRAILER        IN        88        KTY        1KKVE4829JL081722        RS         CO         CO         98050470923
11K538        TRAILER        IN        88        KTY        1KKVE4820JL081723        HV         CO         CO         98050470924
11K539        TRAILER        IN        88        KTY        1KKVE4824JL081692        HV         CO         CO         98050470925
11K540        TRAILER        IN        88        KTY        1KKVE4826JL081693        HV         CL         LA         98050470926
11K541        TRAILER        IN        88        KTY        1KKVE4828JL081694        RS         CO         CO         98050470927
11K542        TRAILER        IN        88        KTY        1KKVE482XJL081695        RS         CO         CO         98050470928
11K543        TRAILER        IN        88        KTY        1KKVE4821JL081696        RS         CO         CO         98050470929
11K544        TRAILER        IN        88        KTY        1KKVE4823JL081697        RS         CO         CO         98050470930
11K652        TRAILER        IN        91        KTY        1KKVE4821ML090287        HV         CO         CO         98050470931
11K660        TRAILER        IN        88        KTY        1KKVE4823JL082736        RS         CL         LA         98050470932
11K661        TRAILER        IN        88        KTY        1KKVE4825JL082737        HV         CL         LA         98050470933
11K662        TRAILER        IN        88        KTY        1KKVE4827JL082738        HV         CL         LA         98050470934
11K664        TRAILER        IN        88        KTY        1KKVE4825JL082740        HV         CO         CO         98050470936
11K665        TRAILER        IN        88        KTY        1KKVE4827JL082741        RS         CL         LA         98050470937
11K666        TRAILER        IN        88        KTY        1KKVE4829JL082742        HV         CL         LA         98050470938
11K667        TRAILER        IN        88        KTY        1KKVE4820JL082743        HV         CO         CO         98050470939
11K668        TRAILER        IN        88        KTY        1KKVE4822JL082744        HV         CO         CO         98050470940
11K669        TRAILER        IN        88        KTY        1KKVE4824JL082745        RS         CL         LA         98050470941
11K670        TRAILER        IN        88        KTY        1KKVE4826JL082746        HV         CO         CO         98050470942
11K671        TRAILER        IN        88        KTY        1KKVE4828JL082747        RS         CL         LA         98050470943
11K672        TRAILER        IN        88        KTY        1KKVE482XJL082748        HV         CO         CO         98050470944
11K673        TRAILER        IN        88        KTY        1KKVE4821JL082749        HV         CO         CO         98050470945
11K674        TRAILER        IN        88        KTY        1KKVE4828JL082750        HV         CO         CO         98050470946
11K675        TRAILER        IN        88        KTY        1KKVE482XJL082751        HV         CO         CO         98050470947
11K676        TRAILER        IN        88        KTY        1KKVE4821JL082752        HV         CO         CO         98050470948
11K677        TRAILER        IN        88        KTY        1KKVE4823JL082753        HV         CO         CO         98050470949
11K678        TRAILER        IN        88        KTY        1KKVE4825JL082754        HV         CO         CO         98050470950
11K679        TRAILER        IN        88        KTY        1KKVE4827JL082755        HV         CO         CO         98050470951
11K680        TRAILER        IN        88        KTY        1KKVE4829JL082756        HV         CL         LA         98050470952
11K681        TRAILER        IN        88        KTY        1KKVE4820JL082757        HV         CO         CO         98050470953
11K682        TRAILER        IN        88        KTY        1KKVE4822JL082758        HV         CO         CO         98050470954
11K683        TRAILER        IN        88        KTY        1KKVE4824JL082759        HV         CO         CO         98050470955
11K684        TRAILER        IN        88        KTY        1KKVE4820JL082760        HV         CO         CO         98050470956
11K685        TRAILER        IN        88        KTY        IKKVE4822JL082761        HV         CO         CO         98050470957
11K686        TRAILER        IN        88        KTY        IKKVE4824JL082762        HV         CO         CO         98050470958
11K687        TRAILER        IN        88        KTY        1KKVE4826JL082763        RS         CO         CO         98050470959
11K688        TRAILER        IN        88        KTY        1KKVE4828JL082764        HV         CO         CO         98050470960
11K689        TRAILER        IN        88        KTY        1KKVE482XJL082765        HV         CO         CO         98050470961
11K690        TRAILER        IN        88        KTY        1KKVE4821JL082766        HV         CO         CO         98050470962
11K691        TRAILER        IN        88        KTY        1KKVE4823JL082767        HV         CO         CO         98050470963
11K692        TRAILER        IN        88        KTY        1KKVE4825JL082768        HV         CO         CO         98050470964
11K693        TRAILER        IN        88        KTY        1KKVE4827JL082769        HV         CO         CO         98050470965
11K694        TRAILER        IN        88        KTY        1KKVE4823JL082770        HV         CO         CO         98050470966
11K695        TRAILER        IN        88        KTY        1KKVE4825JL082771        HV         CO         CO         98050470967
11K696        TRAILER        IN        88        KTY        1KKVE4827JL082772        HV         CL         LA         98050470968
11K699        TRAILRER       IN        91        KTY        1KKVE4823ML090288        HV         CO         CO         98050470969

</TABLE>

<PAGE>

Page 23

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<TABLE>
<CAPTION>

                             LIC                            SERIAL                                                    TITLE
UNIT          TYPE           ST        YR        MAKE       NUMBER                   DIV        SUB        FC         NUMBER
----          ----           --        --        ----       ------                   ---        ---        --         ------
<S>           <C>           <C>       <C>        <C>        <C>                     <C>        <C>        <C>         <C>
11K701       TRAILER         IN        89        KTY        1KKVE4826KL083705         RS        CO         CO         98050470971
11K702       TRAILER         IN        89        KTY        1KKVE4828KL083706         HV        CO         CO         98050470972
11K703       TRAILER         IN        89        KTY        1KKVE482XKL083707         RS        CO         CO         98050470973
11K704       TRAILER         IN        89        KTY        1KKVE4821KL083708         HV        CO         CO         98050470974
11K705       TRAILER         IN        89        KTY        1KKVE4823KL083709         HV        CO         CO         98050470975
11K706       TRAILER         IN        89        KTY        1KKVE482XKL083710         RS        CO         CO         98050470976
11K707       TRAILER         IN        89        KTY        1KKVE4821KL083711         HV        CO         CO         98050470977
11K708       TRAILER         IN        89        KTY        1KKVE4823KL083712         HV        CO         CO         98050470978
11K709       TRAILER         IN        89        KTY        1KKVE4825KL083713         HV        CO         CO         98050470979
11K710       TRAILER         IN        89        KTY        1KKVE4827KL083714         RS        CO         CO         98050470980
11K711       TRAILER         IN        89        KTY        1KKVE4829KL083715         HV        CO         CO         98050470981
11K712       TRAILER         IN        89        KTY        1KKVE482OKL083716         HV        CO         CO         98050470982
11K713       TRAILER         IN        89        KTY        1KKVE4822KL083717         HV        CO         CO         98050570983
11K714       TRAILER         IN        89        KTY        1KKVE4824KL083718         HV        CO         CO         98050470984
11K715       TRAILER         IN        89        KTY        1KKVE4826KL083719         RS        CO         CO         98050470985
11K716       TRAILER         IN        89        KTY        1KKVE4822KLO83720         HV        CO         CO         98050470986
11K717       TRAILER         IN        89        KTY        1KKVE4824KL083721         RS        CO         CO         98050470987
11K718       TRAILER         IN        89        KTY        1KKVE4826KL083722         RS        CO         CO         98050470988
11K719       TRAILER         IN        89        KTY        1KKVE4828KL083723         RS        CO         CO         98050470989
11K720       TRAILER         IN        89        KTY        1KKVE482XKL083724         RS        CO         CO         98050470990
11K721       TRAILER         IN        89        KTY        1KKVE4821KL083725         RS        CO         CO         98050470991
11K722       TRAILER         IN        89        KTY        1KKVE4823KL083726         HV        CO         CO         98050470992
11K723       TRAILER         IN        89        KTY        1KKVE4825KL083727         HV        CO         CO         98050470993
11K724       TRAILER         IN        89        KTY        1KKVE4827KL083728         HV        CO         CO         98050470994
11K725       TRAILER         IN        89        KTY        1KKVE4829KL083729         HV        CO         CO         98050470995
11K726       TRAILER         IN        89        KTY        1KKVE4825KL083730         HV        CO         CO         98050470996
11K727       TRAILER         IN        89        KTY        1KKVE4827KL083731         HV        CO         CO         98050470997
11K728       TRAILER         IN        89        KTY        1KKVE4829KL083732         HV        CO         CO         98050470998
11K729       TRAILER         IN        89        KTY        1KKVE4820KL083733         HV        CO         CO         98050470999
11K730       TRAILER         IN        89        KTY        1KKVE4822KL083734         RS        CO         CO         98050472001
11K731       TRAILER         IN        89        KTY        1KKVE4824KL083735         HV        CO         CO         98050472002
11K732       TRAILER         IN        89        KTY        1KKVE4826KL083736         HV        CO         CO         98050472003
11K733       TRAILER         IN        89        KTY        1KKVE4828KL083737         HV        CO         CO         98050472004
11K734       TRAILER         IN        89        KTY        1KKVE482XKL083738         HV        CO         CO         98050472005
11K735       TRAILER         IN        89        KTY        1KKVE4821KL083739         HV        CO         CO         98050472006
11K736       TRAILER         IN        89        KTY        1KKVE4828KL083740         HV        CO         CO         98050472007
11K737       TRAILER         IN        89        KTY        1KKVE482XKL083741         RS        CO         CO         98050472008
11K738       TRAILER         IN        89        KTY        1KKVE4821KL083742         HV        CO         CO         98050472009
11K739       TRAILER         IN        89        KTY        1KKVE4823KL083743         HV        CO         CO         98050472010
11K740       TRAILER         IN        89        KTY        1KKVE4825KL083744         HV        CO         CO         98050472011
11K741       TRAILER         IN        89        KTY        1KKVE4827KL083745         HV        CO         CO         98050472012
11K742       TRAILER         IN        89        KTY        1KKVE4829KL083746         RS        CO         CO         98050472013
11K743       TRAILER         IN        89        KTY        1KKVE4820KL083747         HV        CO         CO         98050472014
11K744       TRAILER         IN        89        KTY        1KKVE4822KL083748         HV        CO         CO         98050472015
11K745       TRAILER         IN        89        KTY        1KKVE4820KL083750         RS        CO         CO         98050472016
11K746       TRAILER         IN        89        KTY        1KKVE4822KL083751         HV        CO         CO         98050472017
11K748       TRAILER         IN        89        KTY        1KKVE4826KL083753         HV        CO         CO         98050472018
11K749       TRAILER         IN        89        KTY        1KKVE4828KL083754         HV        CO         CO         98050472019
11K750       TRAILER         IN        89        KTY        1KKVE482XKL083755         HV        CO         CO         98050472020
11K751       TRAILER         IN        89        KTY        1KKVE4821KL083756         HV        CO         CO         98050472021

</TABLE>

<PAGE>

PAGE        24

LIST OF NORTH AMERICAN VAN LINES TITLED EQUIPMENT AS OF 10/30/99

<TABLE>
<CAPTION>
                             LIC                            SERIAL                                                    TITLE
UNIT          TYPE           ST        YR        MAKE       NUMBER                   DIV        SUB        FC         NUMBER
----          ----           ---       --        ----       ------                   ---        ---        --         ------
<S>           <C>            <C>       <C>       <C>        <C>                      <C>        <C>        <C>        <C>
11K752        TRAILER        IN        89        KTY        1KKVE4823KL083757        HV         CO         CO         98050472022
11K753        TRAILER        IN        89        KTY        1KKVE4825KL083758        HV         CO         CO         98050472023
11K754        TRAILER        IN        89        KTY        1KKVE4827KL083759        HV         CO         CO         98050472024
11K755        TRAILER        IN        89        KTY        1KKVE4823KL083760        HV         CL         LA         98050472025
11K756        TRAILER        IN        89        KTY        1KKVE4825KL083761        HV         CO         CO         98050472026
11K757        TRAILER        IN        89        KTY        1KKVE4827KL083762        HV         CO         CO         98050472027
11K758        TRAILER        IN        89        KTY        1KKVE4829KL083763        RS         CO         CO         98050472028
11K759        TRAILER        IN        89        KTY        1KKVE4820KL083764        HV         CO         CO         98050472029
11K760        TRAILER        IN        89        KTY        1KKVE4822KL083765        HV         CO         CO         98050472030
11K761        TRAILER        IN        89        KTY        1KKVE4824KL083766        HV         CO         CO         98050472031
11K762        TRAILER        IN        89        KTY        1KKVE4826KL083767        HV         CO         CO         98050472032
11K763        TRAILER        IN        89        KTY        1KKVE4828KL083768        HV         CL         LA         98050472033
11K764        TRAILER        IN        89        KTY        1KKVE482XKL083769        RS         CO         CO         98050472034
11K765        TRAILER        IN        89        KTY        1KKVE4826KL083770        RS         CO         CO         98050472035
11K766        TRAILER        IN        89        KTY        1KKVE4828KL083771        HV         CO         CO         98050472036
11K767        TRAILER        IN        89        KTY        1KKVE482XKL083772        HV         CO         CO         98050472037
11K768        TRAILER        IN        89        KTY        1KKVE4821KL083773        RS         CO         CO         98050472038
11K769        TRAILER        IN        89        KTY        1KKVE4823KL083774        HV         CO         CO         98050472039
11K770        TRAILER        IN        89        KTY        1KKVE4825KL083775        HV         CO         CO         98050472040
11K771        TRAILER        IN        89        KTY        1KKVE4827KL083776        HV         CO         CO         98050472041
11K772        TRAILER        IN        89        KTY        1KKVE4829KL083777        HV         CO         CO         98050472042
11K773        TRAILER        IN        89        KTY        1KKVE4820KL083778        HV         CO         CO         98050472043
11K774        TRAILER        IN        89        KTY        1KKVE4822KL083779        RS         CO         CO         98050472044
11K775        TRAILER        IN        89        KTY        1KKVE4829KL083780        HV         CO         CO         98050472045
11K776        TRAILER        IN        89        KTY        1KKVE4820KL083781        HV         CO         CO         98050472046
11K777        TRAILER        IN        89        KTY        1KKVE4822KL083782        HV         CO         CO         98050472047
11K778        TRAILER        IN        89        KTY        1KKVE4824KL083783        HV         CO         CO         98050472048
11K779        TRAILER        IN        89        KTY        1KKVE4826KL083784        RS         CO         CO         98050472049
11K780        TRAILER        IN        89        KTY        1KKVE4828KL083785        RS         CO         CO         98050472050
11K781        TRAILER        IN        89        KTY        1KKVE482XKL083786        RS         CO         CO         98050472051
11K782        TRAILER        IN        89        KTY        1KKVE4821KL083787        HV         CO         CO         98050472052
11K783        TRAILER        IN        89        KTY        1KKVE4823KL083788        HV         CO         CO         98050472053
11K784        TRAILER        IN        89        KTY        1KKVE4825KL083789        HV         CO         CO         98050472054
11K785        TRAILER        IN        89        KTY        1KKVE4821KL083790        HV         CO         CO         98050472070
11K787        TRAILER        IN        89        KTY        1KKVE4825KL083792        HV         CO         CO         98050472090
11K788        TRAILER        IN        89        KTY        1KKVE4827KL083793        HV         CO         CO         98050472097
11K789        TRAILER        IN        89        KTY        1KKVE4824KL083749        HV         CL         LA         98050472126
11K790        TRAILER        IN        89        KTY        1KKVE4721KL084732        HV         CO         CO         98050472136
11K791        TRAILER        IN        89        KTY        1KKVE4723KL084733        HV         CO         CO         98050472144
11K793        TRAILER        IN        89        KTY        1KKVE4727KL084735        HV         CO         CO         98050472151
11K794        TRAILER        IN        89        KTY        1KKVE4729KL084736        HV         CO         CO         98050472158
11K795        TRAILER        IN        89        KTY        1KKVE4720KL084737        HV         CO         CO         98050472166
11K796        TRAILER        IN        89        KTY        1KKVE4722KL084738        HV         CO         CO         98050472172
11K797        TRAILER        IN        89        KTY        1KKVE4724KL084739        HV         CO         CO         98050472061
11K798        TRAILER        IN        89        KTY        1KKVE4720KL084740        HV         CO         CO         98050472073
11K799        TRAILER        IN        89        KTY        1KKVE4722KL084741        HV         CO         CO         98050472081
11K800        TRAILER        IN        89        KTY        1KKVE4724KL084742        HV         CO         CO         98050472091
11K801        TRAILER        IN        89        KTY        1KKVE4726KL084743        HV         CO         CO         98050472103
11K802        TRAILER        IN        89        KTY        1KKVE4728KL084744        HV         CO         CO         98050472112
11K803        TRAILER        IN        89        KTY        1KKVE472XKL084745        HV         CO         CO         98050472119
</TABLE>

<PAGE>

PAGE        25

LIST OF NORTH AMERICAN VAN LINES TITLED EQUIPMENT AS OF 10/30/99

<TABLE>
<CAPTION>
                             LIC                            SERIAL                                                    TITLE
UNIT          TYPE           ST        YR        MAKE       NUMBER                   DIV        SUB        FC         NUMBER
----          ----           ---       --        ----       ------                   ---        ---        --      -----------
<S>           <C>            <C>       <C>       <C>        <C>                      <C>        <C>        <C>     <C>
11KB805     TRAILER          IN        89        KTY        1KKVE4723KL084747        HV          CO        CO      98050472129
11KB806     TRAILER          IN        89        KTY        1KKVE4725KL084748        HV          CO        CO      98050472139
11KB807     TRAILER          IN        89        KTY        1KKVE4727KL084749        HV          CO        CO      98050472147
11KB808     TRAILER          IN        89        KTY        1KKVE4723KL084750        HV          CO        CO      98050472156
11KB809     TRAILER          IN        89        KTY        1KKVE4725KL084751        HV          CO        CO      98050472167
11KB810     TRAILER          IN        89        KTY        1KKVE4727KLO84752        HV          CO        CO      98050472178
11KB811     TRAILER          IN        89        KTY        1KKVE4729KL084753        HV          CO        CO      98050472188
11KB812     TRAILER          IN        89        KTY        1KKVE4720KLO84754        HV          CO        CO      98050472198
11KB813     TRAILER          IN        89        KTY        1KKVE4722KL084755        HV          CO        CO      98050472207
11KB814     TRAILER          IN        89        KTY        1KKVE4826KL084756        HV          CO        CO      98050472216
11KB816     TRAILER          IN        89        KTY        1KKVE482XKL084758        HV          CO        CO      98050472237
11KB817     TRAILER          IN        89        KTY        1KKVE4821KL084759        HV          CO        CO      98050472246
11KB818     TRAILER          IN        89        KTY        1KKVE4828KL084760        HV          CO        CO      98050472255
11KB819     TRAILER          IN        89        KTY        1KKVE482XKL084761        RS          CO        CO      98050472264
11KB820     TRAILER          IN        89        KTY        1KKVE4821KLO84762        HV          CO        CO      98050472271
11KB821     TRAILER          IN        89        KTY        1KKVE4823KLO84763        HV          CO        CO      98050472278
11KB822     TRAILER          IN        89        KTY        1KKVE4825KL084764        RS          CO        CO      98050472284
11KB823     TRAILER          IN        89        KTY        1KKVE4827KLO84765        HV          CO        CO      98050472293
11KB824     TRAILER          IN        89        KTY        1KKVE4829KL084766        HV          CO        CO      98050472300
11KB825     TRAILER          IN        89        KTY        1KKVE4820KL084767        HV          CO        CO      98050472308
11KB826     TRAILER          IN        89        KTY        1KKVE4822KL084768        HV          CO        CO      98050472314
11KB827     TRAILER          IN        89        KTY        1KKVE4824KLO84769        HV          CO        CO      98050472323
11KB828     TRAILER          IN        89        KTY        1KKVE4820KL084770        HV          CO        CO      98050472333
11KB829     TRAILER          IN        89        KTY        1KKVE4822KL084771        HV          CO        CO      98050472341
11KB830     TRAILER          IN        89        KTY        1KKVE4824KL084772        HV          CO        CO      98050472350
11KB831     TRAILER          IN        89        KTY        1KKVE4826KL084773        RS          CO        CO      98050472359
11KB832     TRAILER          IN        89        KTY        1KKVE4828KL084774        RS          CO        CO      98050472366
11KB833     TRAILER          IN        89        KTY        1KKVE482XKL084775        HV          CO        CO      98050472374
11KB834     TRAILER          IN        89        KTY        1KKVE4821KL084776        HV          CO        CO      98050472386
11KB835     TRAILER          IN        89        KTY        1KKVE4823KL084777        HV          CO        CO      98050472397
11KB836     TRAILER          IN        89        KTY        1KKVE4825KL084778        HV          CO        CO      98050472405
11KB837     TRAILER          IN        89        KTY        1KKVE4827KL084779        HV          CO        CO      98050472413
11KB838     TRAILER          IN        89        KTY        1KKVE4823KL084780        HV          CO        CO      98050472421
11KB839     TRAILER          IN        89        KTY        1KKVE4825KL084781        HV          CO        CO      98050472429
11KB840     TRAILER          IN        89        KTY        1KKVE4827KL084782        HV          CO        CO      98050472438
11KB841     TRAILER          IN        89        KTY        1KKVE4829KL084783        RS          CO        CO      98050472450
11KB842     TRAILER          IN        89        KTY        1KKVE4820KL084784        HV          CO        CO      98050472456
11KB843     TRAILER          IN        89        KTY        1KKVE4822KL084785        HV          CL        LA      98050472466
11KB844     TRAILER          IN        89        KTY        1KKVE4824KL084786        HV          CO        CO      98050472473
11KB845     TRAILER          IN        89        KTY        1KKVE4826KL084787        HV          CO        CO      98050472480
11KB846     TRAILER          IN        89        KTY        1KKVE4828KL084788        HV          CO        CO      98050472490
11KB847     TRAILER          IN        89        KTY        1KKVE482XKL084789        HV          CO        CO      98050472496
11KB848     TRAILER          IN        89        KTY        1KKVE4826KL084790        HV          CO        CO      98050472058
11KB849     TRAILER          IN        89        KTY        1KKVE4828KL084791        HV          CO        CO      98050472065
11KB850     TRAILER          IN        89        KTY        1KKVE482XKL084792        HV          CL        LA      98050472071
11KB851     TRAILER          IN        89        KTY        1KKVE4821KL084793        HV          CO        CO      98050472077
11KB852     TRAILER          IN        89        KTY        1KKVE4823KL084794        HV          CL        LA      98050472084
11KB853     TRAILER          IN        89        KTY        1KKVE4825KL084795        HV          CO        CO      98050472092
11KB854     TRAILER          IN        89        KTY        1KKVE4827KL084796        RS          CO        CO      98050472098
11KB855     TRAILER          IN        89        KTY        1KKVE4829KL084797        RS          CL        LA      98050472108
</TABLE>

<PAGE>

PAGE 26

LIST OF NORTH AMERICAN VAN LINES TITLED EQUIPMENT AS OF 10/30/99

<TABLE>
<CAPTION>
                             LIC                            SERIAL                                                    TITLE
UNIT               TYPE      ST        YR        MAKE       NUMBER                   DIV        SUB        FC         NUMBER
----               ----      --        --        ----       ------                   ---        ---        --         ------
<S>                <C>       <C>       <C>       <C>        <C>                      <C>        <C>        <C>        <C>
11K856             TRAILER   IN        89        KTY        IKKVE4820KL084798        HV         CO         CO         98050472115
11K857             TRAILER   IN        89        KTY        1KKVE4822KL084799        HV         CO         CO         98050472123
11K858             TRAILER   IN        89        KTY        1KKVE4825KL084800        HV         CO         CO         98050472134
11K859             TRAILER   IN        89        KTY        1KKVE4827KL084801        HV         CO         CO         98050472143
11K860             TRAILER   IN        89        KTY        1KKVE4829KL084802        HV         CO         CO         98050472150
11K861             TRAILER   IN        89        KTY        1KKVR452XKL084803        HV         CO         CO         98050472161
11K862             TRAILER   IN        89        KTY        1KKVR4521KL084804        HV         CO         CO         98050472179
11K863             TRAILER   IN        89        KTY        1KKVR4523KL084805        HV         CO         CO         98050472189
11K864             TRAILER   IN        89        KTY        1KKVR4525KL084806        HV         CO         CO         98050472196
11K865             TRAILER   IN        89        KTY        1KKVR4527KL084807        HV         CO         CO         98050472206
11K866             TRAILER   IN        89        KTY        1KKVR4529KL084808        HV         CO         CO         98050472213
11K867             TRAILER   IN        89        KTY        1KKVR4520KL084809        HV         CO         CO         98050472221
11K868             TRAILER   IN        89        KTY        1KKVR4527KL084810        HV         CO         CO         98050472228
11K871             TRAILER   IN        91        KTY        1KKVE4825ML090289        HV         CO         CO         98050472239
11K872             TRAILER   IN        91        KTY        1KKVE4821ML090290        HV         CO         CO         98050472250
11K874             TRAILER   IN        91        KTY        1KKVE4823ML090291        HV         CO         CO         98050472257
11K875             TRAILER   IN        91        KTY        1KKVE4825ML090292        HV         CO         CO         98050472265
11K876             TRAILER   IN        91        KTY        1KKVE4827ML090293        HV         CO         CO         98050472272
11K877             TRAILER   IN        91        KTY        1KKVE4829ML090294        HV         CO         CO         98050472279
11K878             TRAILER   IN        91        KTY        1KKVE4820ML090295        RS         CO         CO         98050472286
11K879             TRAILER   IN        91        KTY        1KKVE4822ML090296        HV         CO         CO         98050472292
11K882             TRAILER   IN        91        KTY        1KKVE4824ML090297        HV         CO         CO         98050472299
11K883             TRAILER   IN        91        KTY        1KKVE4826ML090298        HV         CO         CO         98050472306
11K884             TRAILER   IN        88        KTY        1KKVO4823JL082691        HV         CO         CO         98050472316
11K886             TRAILER   IN        90        KTY        1KKVA4828LL088188        HV         CO         CO         98050472322
11K887             TRAILER   IN        90        KTY        1KKVA482XLL088189        HV         CO         CO         98050472332
11K888             TRAILER   IN        90        KTY        1KKVA4826LL088190        HV         CL         LA         98050472344
11K889             TRAILER   IN        90        KTY        1KKVA4828LL088191        HV         CO         CO         98050472353
11K890             TRAILER   IN        90        KTY        1KKVA482XLL088192        HV         CO         CO         98050472361
11K891             TRAILER   IN        90        KTY        1KKVA4821LL088193        HV         CO         CO         98050472368
11K892             TRAILER   IN        90        KTY        1KKVA4823LL088194        HV         CO         CO         98050472378
11K893             TRAILER   IN        90        KTY        1KKVA4825LL088195        HV         CO         CO         98050472385
11K894             TRAILER   IN        90        KTY        1KKVA4827LL088196        HV         CL         LA         98050472396
11K895             TRAILER   IN        90        KTY        1KKVA4829LL088197        HV         CO         CO         98050472407
11K896             TRAILER   IN        90        KTY        1KKVA4820LL088198        HV         CO         CO         98050472412
11K898             TRAILER   IN        90        KTY        1KKVA4825LL088200        HV         CL         LA         98050472432
11K899             TRAILER   IN        90        KTY        1KKVA4827LL088201        HV         CO         CO         98050472442
11K900             TRAILER   IN        90        KTY        1KKVA4829LL088202        HV         CO         CO         98050472451
11K901             TRAILER   IN        90        KTY        1KKVA4820LL088203        HV         CO         CO         98050472457
11K902             TRAILER   IN        90        KTY        1KKVA4822LL088204        HV         CO         CO         98050472467
11K903             TRAILER   IN        90        KTY        1KKVA4824LL088205        HV         CO         CO         98050472475
11K904             TRAILER   IN        90        KTY        1KKVA4826LL088206        HV         CO         CO         98050472059
11K905             TRAILER   IN        90        KTY        1KKVA4828LL088207        HV         CO         CO         98050472064
11K906             TRAILER   IN        90        KTY        1KKVR4527LL088177        HV         CO         CO         98050472072
11K907             TRAILER   IN        90        KTY        1KKVR4529LL088178        HV         CO         CO         98050472078
11K908             TRAILER   IN        90        KTY        1KKVR4520LL088179        HV         CO         CO         98050472089
11K909             TRAILER   IN        90        KTY        1KKVR4527LL088180        HV         CO         CO         98050472101
11K910             TRAILER   IN        90        KTY        1KKVR4529LL088181        HV         CO         CO         98050472113
11K911             TRAILER   IN        90        KTY        1KKVR4520LL088182        HV         CO         CO         98050472122
11K912             TRAILER   IN        90        KTY        1KKVR4522LL088183        HV         CO         CO         98050472131

</TABLE>

<PAGE>

PAGE 27

LIST OF NORTH AMERICAN VAN LINES TITLED EQUIPMENT AS OF 10/30/99

<TABLE>
<CAPTION>
                             LIC                            SERIAL                                                    TITLE
UNIT               TYPE      ST        YR        MAKE       NUMBER                   DIV        SUB        FC         NUMBER
----               ----      --        --        ----       ------                   ---        ---        --         ------
<S>                <C>       <C>       <C>       <C>        <C>                      <C>        <C>        <C>        <C>
11K913             TRAILER   IN        90        KTY        IKKVR4524LL088184        HV         CO         CO         98050472141
11K914             TRAILER   IN        91        KTY        1KKVE4828ML090299        HV         CO         CO         98050472152
11K915             TRAILER   IN        91        KTY        1KKVE4825ML090300        HV         CO         CO         98050472164
11K916             TRAILER   IN        91        KTY        1KKVE4822ML090301        HV         CO         CO         98050472173
11K917             TRAILER   IN        91        KTY        1KKVE4824ML090302        HV         CO         CO         98050472183
11K918             TRAILER   IN        91        KTY        1KKVE4826ML090303        HV         CO         CO         98050472193
11K919             TRAILER   IN        91        KTY        1KKVE4828ML090304        HV         CO         CO         98050472204
11K920             TRAILER   IN        91        KTY        1KKVE482XML090305        HV         CO         CO         98050472212
11K921             TRAILER   IN        91        KTY        1KKVE4821ML090306        HV         CO         CO         98050472222
11K922             TRAILER   IN        91        KTY        1KKVE4823ML090307        HV         CO         CO         98050472232
11K923             TRAILER   IN        91        KTY        1KKVE4825ML090308        HV         CO         CO         98050472242
11K924             TRAILER   IN        91        KTY        1KKVE4827ML090309        HV         CO         CO         98050472251
11K925             TRAILER   IN        91        KTY        1KKVE4823ML090310        HV         CO         CO         98050472260
11K927             TRAILER   IN        91        KTY        1KKVE4827ML090312        HV         CO         CO         98050472270
11K928             TRAILER   IN        91        KTY        1KKVE4829ML090313        HV         CO         CO         98050472277
11K929             TRAILER   IN        91        KTY        1KKVE4820ML090314        HV         CO         CO         98050472287
11K930             TRAILER   IN        91        KTY        1KKVE4822ML090315        HV         CO         CO         98050472294
11K931             TRAILER   IN        91        KTY        1KKVE4824ML090316        HV         CO         CO         98050472303
11K932             TRAILER   IN        91        KTY        1KKVE4826ML090317        HV         CO         CO         98050472311
11K933             TRAILER   IN        91        KTY        1KKVE4828ML090318        HV         CO         CO         98050472319
11K934             TRAILER   IN        91        KTY        1KKVE482XML090319        HV         CO         CO         98050472328
11K935             TRAILER   IN        91        KTY        1KKVE5327ML090355        HV         CO         CO         98050472338
11K936             TRAILER   IN        91        KTY        1KKVE5329ML090356        HV         CO         CO         98050472349
11K937             TRAILER   IN        91        KTY        1KKVE5320ML090357        HV         CO         CO         98050472358
11K938             TRAILER   IN        91        KTY        1KKVA5328ML090358        HV         CO         CO         98050472370
11K939             TRAILER   IN        91        KTY        1KKVA532XML090359        HV         CO         CO         98050472380
11K940             TRAILER   IN        91        KTY        1KKVA5326ML090360        HV         CO         CO         98050472391
11K941             TRAILER   IN        91        KTY        1KKVE5322ML090361        HV         CO         CO         98050472399
11K942             TRAILER   IN        91        KTY        1KKVE5324ML090362        HV         CO         CO         98050472408
11K943             TRAILER   IN        91        KTY        1KKVE4826ML090320        HV         CO         CO         98050472415
11K944             TRAILER   IN        91        KTY        1KKVE4828ML090321        HV         CO         CO         98050472424
11K945             TRAILER   IN        91        KTY        1KKVE482XML090322        HV         CO         CO         98050472431
11K946             TRAILER   IN        91        KTY        1KKVE4821ML090323        HV         CO         CO         98050472439
11K947             TRAILER   IN        91        KTY        1KKVE4823ML090324        HV         CO         CO         98050472446
11K948             TRAILER   IN        91        KTY        1KKVE4825ML090325        HV         CO         CO         98050472454
11K949             TRAILER   IN        91        KTY        1KKVE4827ML090326        HV         CO         CO         98050472464
11K950             TRAILER   IN        91        KTY        1KKVE4829ML090327        HV         CO         CO         98050472471
11K951             TRAILER   IN        91        KTY        1KKVE4820ML090328        HV         CO         CO         98050472478
11K952             TRAILER   IN        91        KTY        1KKVE4822ML090329        HV         CO         CO         98050472484
11K953             TRAILER   IN        91        KTY        1KKVE4829ML090330        HV         CO         CO         98050472493
11K954             TRAILER   IN        91        KTY        1KKVE4820ML090331        HV         CO         CO         98050472503
11K955             TRAILER   IN        91        KTY        1KKVE4822ML090332        HV         CO         CO         98050472057
11K956             TRAILER   IN        91        KTY        1KKVE4824ML090333        HV         CO         CO         98050472063
11K957             TRAILER   IN        91        KTY        1KKVE4826ML090334        HV         CO         CO         98050472067
11K959             TRAILER   IN        91        KTY        1KKVE482XML090336        HV         CO         CO         98050472074
11K960             TRAILER   IN        91        KTY        1KKVE4821ML090337        HV         CO         CO         98050472082
11K961             TRAILER   IN        91        KTY        1KKVE4823ML090338        HV         CO         CO         98050472087
11K962             TRAILER   IN        91        KTY        1KKVE4825ML090339        HV         CO         CO         98050472096
11K963             TRAILER   IN        91        KTY        1KKVE4821ML090340        HV         CO         CO         98050472102
11K964             TRAILER   IN        91        KTY        1KKVE4823ML090341        HV         CO         CO         98050472111

</TABLE>

<PAGE>

PAGE 28

LIST OF NORTH AMERICAN VAN LINES TITLED EQUIPMENT AS OF 10/30/99
<TABLE>
<CAPTION>

                             LIC                            SERIAL                                                    TITLE
UNIT          TYPE           ST        YR        MAKE       NUMBER                   DIV        SUB        FC         NUMBER
----          ----           ---       --        ----       ------                   ---        ---        --         ------
<S>           <C>            <C>       <C>       <C>        <C>                      <C>        <C>        <C>        <C>
11K965        TRAILER        IN        91        KTY        1KKVE4825ML090342        HV         CO         CO         98050472118
11K966        TRAILER        IN        91        KTY        1KKVE4827ML090343        HV         CO         CO         98050472125
11K967        TRAILER        IN        91        KTY        1KKVE4829ML090344        HV         CO         CO         98050472130
11K968        TRAILER        IN        91        KTY        1KKVE4820ML090345        HV         CO         CO         98050472137
11K969        TRAILER        IN        91        KTY        1KKVE4822ML090346        HV         CO         CO         98050472146
11K970        TRAILER        IN        91        KTY        1KKVE4824ML090347        HV         CO         CO         98050472153
11K971        TRAILER        IN        91        KTY        1KKVE4826ML090348        HV         CO         CO         98050472163
11K972        TRAILER        IN        91        KTY        1KKVE4828ML090349        HV         CO         CO         98050472168
11K973        TRAILER        IN        91        KTY        1KKVE4824ML090350        HV         CO         CO         98050472175
11K974        TRAILER        IN        91        KTY        1KKVE4826ML090351        HV         CO         CO         98050472182
11K975        TRAILER        IN        91        KTY        1KKVE4828ML090352        HV         CO         CO         98050472190
11K976        TRAILER        IN        91        KTY        1KKVE482XML090353        HV         CO         CO         98050472197
11K977        TRAILER        IN        91        KTY        1KKVE4821ML090354        HV         CO         CO         98050472203
11K978        TRAILER        IN        92        W N        1JJV452S0ML164206        HV         CO         CO         98050472210
11K979        TRAILER        IN        92        W N        1JJV452V7NL163144        HV         CL         LA         98050472220
11K980        TRAILER        IN        92        W N        1JJV452V9NL163145        HV         CO         CO         98050472225
11K981        TRAILER        IN        92        W N        1JJV452V0NL163146        HV         CO         CO         98050472233
11K982        TRAILER        IN        92        W N        1JJV452V2NL163147        HV         CO         CO         98050472241
11K983        TRAILER        IN        92        W N        1JJV452V4NL163148        HV         CL         LA         98050472249
11K984        TRAILER        IN        92        W N        1JJV452V6NL163149        HV         CO         CO         98050472253
11K985        TRAILER        IN        92        W N        1JJV452V2NL163150        HV         CO         CO         98050472261
11K986        TRAILER        IN        92        W N        1JJV452V4NL163151        HV         CO         CO         98050472269
11K987        TRAILER        IN        92        W N        1JJV452V6NL163152        HV         CO         CO         98050472275
11K988        TRAILER        IN        92        W N        1JJV452V8NL163153        HV         CO         CO         98050472280
11K989        TRAILER        IN        92        W N        1JJV452VXNL163154        HV         CO         CO         98050472288
11K999        TRAILER        IN        87        KTY        1KKVE472XHL078324        HV         CO         CO         98050472297
11M001        TRAILER        IN        85        KTY        1KKVE4827FL072766        BW         CO         CO         98050472305
11M002        TRAILER        IN        85        KTY        1KKVE4829FL072767        BW         CO         CO         98050472310
11M003        TRAILER        IN        85        KTY        1KKVE4820FL072768        BW         CO         CO         98050472317
11M004        TRAILER        IN        85        KTY        1KKVE4822FL072769        BW         CO         CO         98050472320
11M009        TRAILER        IN        85        KTY        1KKVE4826FL072774        BW         CO         CO         98050472327
11M011        TRAILER        IN        85        KTY        1KKVE482XFL072776        BW         CO         CO         98050472335
11M012        TRAILER        IN        85        KTY        1KKVE4821FL072777        RS         CO         CO         98050472339
11M013        TRAILER        IN        85        KTY        1KKVE4823FL072778        BW         CO         CO         98050472347
11M014        TRAILER        IN        85        KTY        1KKVE4825FL072779        BW         CO         CO         98050472354
11M017        TRAILER        IN        85        KTY        1KKVE4825FL072782        BW         CO         CO         98050472360
11M018        TRAILER        IN        85        KTY        1KKVE4827FL072783        RS         CO         CO         98050472371
11M019        TRAILER        IN        85        KTY        1KKVE4829FL072784        BW         CO         CO         98050472379
11M029        TRAILER        IN        85        KTY        1KKVE4821FL072794        HV         DC         D1         98050472392
11M030        TRAILER        IN        85        KTY        1KKVE4823FL072795        BW         CO         CO         98050472400
11M031        TRAILER        IN        85        KTY        1KKVE4825FL072796        BW         CO         CO         98050472409
11M033        TRAILER        IN        85        KTY        1KKVE4829FL072798        RS         CO         CO         98050472056
11M034        TRAILER        IN        85        KTY        1KKVE4820FL072799        BW         CO         CO         98050472060
11M038        TRAILER        IN        85        KTY        1KKVE4829FL072803        BW         CO         CO         98050472066
11M043        TRAILER        IN        85        KTY        1KKVE4828FL072808        BW         CO         CO         98050472075
11M046        TRAILER        IN        85        KTY        1KKVE4828FL072811        BW         CO         CO         98050472079
11M048        TRAILER        IN        85        KTY        1KKVE4821FL072813        BW         CO         CO         98050472086
11M049        TRAILER        IN        85        KTY        1KKVE4823FL072814        BW         CO         CO         98050472095
11M050        TRAILER        IN        85        KTY        1KKVE4825FL072815        BW         CO         CO         98050472106
11M056        TRAILER        IN        85        KTY        1KKVE4820FL072821        BW         CO         CO         98050472117

</TABLE>

<PAGE>

PAGE    29

LIST OF NORTH AMERICAN VAN LINES TITLED EQUIPMENT AS OF 10/30/99
<TABLE>
<CAPTION>

                             LIC                            SERIAL                                                    TITLE
UNIT          TYPE           ST        YR        MAKE       NUMBER                   DIV        SUB        FC         NUMBER
----          ----           ---       --        ----       ------                   ---        ---        --         ------
<S>           <C>            <C>       <C>       <C>        <C>                      <C>        <C>        <C>        <C>
11M058        TRAILER        IN        85        KTY        1KKVE4824FL072823        HV         CO         CO         98050472124
11M064        TRAILER        IN        85        KTY        1KKVE4825FL072829        HV         CO         CO         98050472133
11M065        TRAILER        IN        85        KTY        1KKVE4821FL072830        RS         CO         CO         98050472159
11M071        TRAILER        IN        85        KTY        1KKVE4822FL072836        BW         CO         CO         98050472169
11M079        TRAILER        IN        85        KTY        1KKVE4821FL072844        BW         CO         CO         98050472174
11M080        TRAILER        IN        85        KTY        1KKVE4823FL072845        BW         CO         CO         98050472184
11M084        TRAILER        IN        85        KTY        1KKVE4820FL072849        RS         CO         CO         98050472201
11M087        TRAILER        IN        85        KTY        1KKVE4820FL072852        BW         CO         CO         98050472214
11M088        TRAILER        IN        85        KTY        1KKVE4822FL072853        HV         CO         CO         98050472224
11M090        TRAILER        IN        85        KTY        1KKVE4826FL072855        RS         CO         CO         98050472234
11M093        TRAILER        IN        85        KTY        1KKVE4821FL072858        BW         CO         CO         98050472240
11M100        TRAILER        IN        85        KTY        1KKVE4829FL072865        BW         CO         CO         98050472248
11M102        TRAILER        IN        85        KTY        1KKVE4820FL073421        BW         CO         CO         98050472267
11M103        TRAILER        IN        85        KTY        1KKVE4822FL073422        BW         CO         CO         98050472281
11M105        TRAILER        IN        85        KTY        1KKVE4826FL073424        RS         CO         CO         98050472291
11M106        TRAILER        IN        85        KTY        1KKVE4828FL073425        RS         CO         CO         98050472298
11M108        TRAILER        IN        85        KTY        1KKVE4821FL073427        BW         CO         CO         98050472307
11M113        TRAILER        IN        85        KTY        1KKVE4825FL073432        BW         CO         CO         98050472321
11M115        TRAILER        IN        85        KTY        1KKVE4829FL073434        RS         CO         CO         98050472331
11M118        TRAILER        IN        85        KTY        1KKVE4824FL073437        HV         DC         C1         98050472340
11M119        TRAILER        IN        85        KTY        1KKVE4826FL073438        RS         CO         CO         98050472348
11M120        TRAILER        IN        85        KTY        1KKVE4828FL073439        BW         CO         CO         98050472356
11M122        TRAILER        IN        85        KTY        1KKVE4826FL073441        RS         CO         CO         98050472365
11M124        TRAILER        IN        85        KTY        1KKVE482XFL073443        BW         CO         CO         98050472373
11M126        TRAILER        IN        85        KTY        1KKVE4823FL073445        BW         CO         CO         98050472384
11M127        TRAILER        IN        85        KTY        1KKVE4825FL073446        BW         CO         CO         98050472394
11M128        TRAILER        IN        85        KTY        1KKVE4827FL073447        HV         CO         CO         98050472402
11M130        TRAILER        IN        85        KTY        1KKVE4820FL073449        BW         CO         CO         98050472426
11M131        TRAILER        IN        85        KTY        1KKVE4827FL073450        BW         CO         CO         98050472434
11M138        TRAILER        IN        85        KTY        1KKVE482XFL073457        BW         CO         CO         98050472447
11M139        TRAILER        IN        85        KTY        1KKVE4821FL073458        BW         CO         CO         98050472495
11M143        TRAILER        IN        85        KTY        1KKVE4823FL073462        BW         CO         CO         98050472461
11M147        TRAILER        IN        85        KTY        1KKVE4820FL073466        BW         CO         CO         98050472505
11M148        TRAILER        IN        85        KTY        1KKVE4822FL073467        RS         CO         CO         98050472511
11M153        TRAILER        IN        85        KTY        1KKVE4826FL073472        BW         CO         CO         98050472521
11M154        TRAILER        IN        85        KTY        1KKVE4828FL073473        RS         CO         CO         98050472533
11M157        TRAILER        IN        85        KTY        1KKVE4823FL073476        BW         CO         CO         98050472540
11M158        TRAILER        IN        85        KTY        1KKVE4825FL073477        RS         CO         CO         98050472550
11M159        TRAILER        IN        85        KTY        1KKVE4827FL073478        BW         CO         CO         98050472558
11M165        TRAILER        IN        85        KTY        1KKVE4822FL073484        BW         CO         CO         98050472516
11M167        TRAILER        IN        85        KTY        1KKVE4826FL073486        BW         CO         CO         98050472528
11M169        TRAILER        IN        85        KTY        1KKVE482XFL073488        RS         CO         CO         98050472537
11M177        TRAILER        IN        85        KTY        1KKVE4829FL073496        HV         DC         C4         98050472555
11M178        TRAILER        IN        85        KTY        1KKVE4820FL073497        BW         CO         CO         98050472563
11M181        TRAILER        IN        85        KTY        1KKVE4827FL073500        BW         CO         CO         98050472574
11M184        TRAILER        IN        85        KTY        1KKVE4822FL073503        RS         CO         CO         98050472584
11M193        TRAILER        IN        85        KTY        1KKVE4823FL073512        HV         DC         O1         98050472609
11M195        TRAILER        IN        85        KTY        1KKVE4827FL073514        BW         CO         CO         98050472621
11M200        TRAILER        IN        85        KTY        1KKVE4826FL073519        BW         CO         CO         98050472628
11M204        TRAILER        IN        85        KTY        1KKVE4827FL074100        BW         CO         CO         98050472643
</TABLE>

<PAGE>

PAGE 30

LIST OF NORTH AMERICAN VAN LINES TITLED EQUIPMENT AS OF 10/30/99

<TABLE>
<CAPTION>

                             LIC                            SERIAL                                                    TITLE
UNIT          TYPE           ST        YR        MAKE       NUMBER                   DIV        SUB        FC         NUMBER
----          ----           ---       --        ----       ------                   ---        ---        --         ------
<S>           <C>            <C>       <C>       <C>        <C>                      <C>        <C>       <C>         <C>
11M205        TRAILER        IN        85        KTY        1KKVE4829FLO74101        BH         CO         CO         98050472657
11M212        TRAILER        IN        85        KTY        1KKVE4821FLO74108        BH         CO         CO         98050472664
11M213        TRAILER        IN        85        KTY        1KKVE4823FLO74109        BH         CO         CO         98050472674
11M216        TRAILER        IN        85        KTY        1KKVE4823FLO74112        HV         OC         04         98050472693
11M217        TRAILER        IN        85        KTY        1KKVE4825FLO74113        BH         CO         CO         98050472701
11M220        TRAILER        IN        85        KTY        1KKVE4820FLO74116        BH         CO         CO         98050472710
11M222        TRAILER        IN        85        KTY        1KKVE4824FLO74118        RS         CO         CO         98050472723
11M223        TRAILER        IN        85        KTY        1KKVE4826FLO74119        BH         CO         CO         98050472734
11M226        TRAILER        IN        85        KTY        1KKVE4826FLO74122        RS         CO         CO         98050472743
11M227        TRAILER        IN        85        KTY        1KKVE4828FLO74123        BH         CO         CO         98050472753
11M228        TRAILER        IN        85        KTY        1KKVE482XFLO74124        BH         CO         CO         98050472761
11M229        TRAILER        IN        85        KTY        1KKVE4821FLO74125        BH         CO         CO         98050472773
11M235        TRAILER        IN        85        KTY        1KKVE4827FLO74131        BH         CO         CO         98050472781
11M241        TRAILER        IN        85        KTY        1KKVE4828FLO74137        BH         CO         CO         98050472799
11M246        TRAILER        IN        85        KTY        1KKVE4821FLO74142        BH         CO         CO         98050472823
11M248        TRAILER        IN        85        KTY        1KKVE4825FLO74144        BH         CO         CO         98050472835
11M253        TRAILER        IN        85        KTY        1KKVE4824FLO74149        BH         CO         CO         98050472843
11M257        TRAILER        IN        85        KTY        1KKVE4826FLO74153        BH         CO         CO         98050472851
11M260        TRAILER        IN        85        KTY        1KKVE4821FLO74156        BH         CO         CO         98050472865
11M262        TRAILER        IN        85        KTY        1KKVE4825FLO74158        BH         CO         CO         98050472877
11M264        TRAILER        IN        85        KTY        1KKVE4823FLO74160        HV         OC         01         98050472889
11M265        TRAILER        IN        85        KTY        1KKVE4825FLO74161        BH         CO         CO         98050472896
11M269        TRAILER        IN        85        KTY        1KKVE4822FLO74165        RS         CO         CO         98050472908
11M272        TRAILER        IN        85        KTY        1KKVE4828FLO74168        BH         CO         CO         98050472919
11M273        TRAILER        IN        85        KTY        1KKVE482XFLO74169        BH         CO         CO         98050472931
11M277        TRAILER        IN        85        KTY        1KKVE4821FLO74173        BH         CO         CO         98050472939
11M282        TRAILER        IN        85        KTY        1KKVE4820FLO74178        RS         CO         CO         98050472945
11M283        TRAILER        IN        85        KTY        1KKVE4822FLO74179        BH         CO         CO         98050472954
11M284        TRAILER        IN        85        KTY        1KKVE4829FLO74180        BH         CO         CO         98050472962
11M287        TRAILER        IN        85        KTY        1KKVE4824FLO74183        BH         CO         CO         98050472969
11M291        TRAILER        IN        85        KTY        1KKVE4821FLO74187        BH         CO         CO         98050472975
11M298        TRAILER        IN        85        KTY        1KKVE4829FLO74194        HV         OC         01         98050472981
11M328        TRAILER        IN        86        KTY        1KKVE4829GL075038        BH         CO         CO         98050472989
11M331        TRAILER        IN        86        KTY        1KKVE4829GLO75041        BH         CO         CO         98050472997
11M337        TRAILER        IN        86        KTY        1KKVE482XGLO75047        BH         CO         CO         98050472654
11M339        TRAILER        IN        86        KTY        1KKVE4823GL075049        BH         CO         CO         98050472663
11M345        TRAILER        IN        86        KTY        1KKVE4829GLO75055        HV         OC         01         98050472686
11M346        TRAILER        IN        86        KTY        1KKVE4820GLO75056        BH         CO         CO         98050472695
11M353        TRAILER        IN        86        KTY        1KKVE4828GLO75063        BH         CO         CO         98050472702
11M354        TRAILER        IN        86        KTY        1KKVE482XGLO75064        BH         CO         CO         98050472716
11M356        TRAILER        IN        86        KTY        1KKVE4823GLO75066        BH         CO         CO         98050472725
11M364        TRAILER        IN        86        KTY        1KKVE4822GLO75074        BH         CO         CO         98050472735
11M367        TRAILER        IN        86        KTY        1KKVE4828GLO75077        BH         CO         CO         98050472744
11M368        TRAILER        IN        86        KTY        1KKVE482XGL075078        BH         CO         CO         98050472754
11M370        TRAILER        IN        86        KTY        1KKVE4828GL075080        BH         CO         CO         98050472760
11M372        TRAILER        IN        86        KTY        1KKVE4821GLO75082        BH         CO         CO         98050472771
11M378        TRAILER        IN        86        KTY        1KKVE4822GLO75088        BH         CO         CO         98050472802
11M379        TRAILER        IN        86        KTY        1KKVE4824GLO75089        BH         CO         CO         98050472812
11M381        TRAILER        IN        86        KTY        1KKVE4822GLO75091        BH         CO         CO         98050472819
11M382        TRAILER        IN        86        KTY        1KKVE4824GLO75092        BH         CO         CO         98050472830

</TABLE>

<PAGE>

PAGE        32

LIST OF NORTH AMERICAN VAN LINES TITLED EQUIPMENT AS OF 10/30/99

<TABLE>
<CAPTION>

                             LIC                            SERIAL                                                    TITLE
UNIT          TYPE           ST        YR        MAKE       NUMBER                   DIV        SUB        FC         NUMBER
----          ----           --        --        ----       ------                   ---        ---        --         ------
<S>          <C>             <C>       <C>       <C>        <C>                     <C>         <C>        <C>        <C>
11M510        TRAILER        IN        86        KTY        1KKVE4829GL075220        BH         CO         CO         98050472763
11M511        TRAILER        IN        86        KTY        1KKVE4820GL075221        BH         CO         CO         98050472772
11M516        TRAILER        IN        86        KTY        1KKVE482XGL075226        BH         CO         CO         98050472783
11M520        TRAILER        IN        86        KTY        1KKVE4821GL075230        BH         CO         CO         98050472790
11M521        TRAILER        IN        86        KTY        1KKVE4823GL075231        BH         CO         CO         98050472803
11M522        TRAILER        IN        86        KTY        1KKVE4825GL075232        BH         CO         CO         98050472811
11M527        TRAILER        IN        86        KTY        1KKVE4824GL075237        BH         CO         CO         98050472820
11M531        TRAILER        IN        86        KTY        1KKVE4826GL075241        BH         CO         CO         98050472844
11M532        TRAILER        IN        86        KTY        1KKVE4828GL075242        BH         CO         CO         98050472855
11M533        TRAILER        IN        86        KTY        1KKVE482XGL075243        BH         CO         CO         98050472863
11M535        TRAILER        IN        86        KTY        1KKVE4823GL075245        BH         CO         CO         98050472882
11M536        TRAILER        IN        86        KTY        1KKVE4825GL075246        BH         CO         CO         98050472893
11M538        TRAILER        IN        86        KTY        1KKVE4829GL075248        BH         CO         CO         98050472905
11M541        TRAILER        IN        86        KTY        1KKVE4829GL075251        BH         CO         CO         98050472918
11M543        TRAILER        IN        86        KTY        1KKVE4822GL075253        BH         CO         CO         98050472929
11M544        TRAILER        IN        86        KTY        1KKVE4824GL075254        BH         CO         CO         98050472940
11M546        TRAILER        IN        86        KTY        1KKVE4828GL075256        BH         CO         CO         98050472949
11M547        TRAILER        IN        86        KTY        1KKVE482XGL075257        BH         CO         CO         98050472958
11M548        TRAILER        IN        86        KTY        1KKVE4821GL075258        BH         CO         CO         98050472964
11M549        TRAILER        IN        86        KTY        1KKVE4823GL075259        BH         CO         CO         98050472977
11M553        TRAILER        IN        86        KTY        1KKVE4825GL075263        BH         CO         CO         98050472986
11M555        TRAILER        IN        86        KTY        1KKVE4829GL075265        BH         CO         CO         98050473011
11M558        TRAILER        IN        86        KTY        1KKVE4824GL075268        BH         CO         CO         98050473024
11M559        TRAILER        IN        86        KTY        1KKVE4826GL075269        BH         CO         CO         98050472180
11M561        TRAILER        IN        86        KTY        1KKVE4824GL075271        BH         CO         CO         98050472191
11M562        TRAILER        IN        86        KTY        1KKVE4826GL075272        BH         CO         CO         98050472199
11M566        TRAILER        IN        86        KTY        1KKVE4823GL075276        BH         CO         CO         98050472217
11M570        TRAILER        IN        86        KTY        1KKVE4825GL075280        BH         CO         CO         98050472236
11M573        TRAILER        IN        86        KTY        1KKVE4820GL075283        BH         CO         CO         98050472243
11M574        TRAILER        IN        86        KTY        1KKVE4822GL075284        BH         CO         CO         98050472254
11M577        TRAILER        IN        86        KTY        1KKVE4828GL075287        RS         CO         CO         98050472262
11M578        TRAILER        IN        86        KTY        1KKVE482XGL075288        BH         CO         CO         98050472268
11M581        TRAILER        IN        86        KTY        1KKVE482XGL075291        BH         CO         CO         98050472274
11M585        TRAILER        IN        86        KTY        1KKVE4827GL075295        RS         CO         CO         98050472282
11M586        TRAILER        IN        86        KTY        1KKVE4829GL075296        BH         CO         CO         98050472290
11M587        TRAILER        IN        86        KTY        1KKVE4820GL075297        BH         CO         CO         98050472296
11M590        TRAILER        IN        86        KTY        1KKVE4827GL075300        BH         CO         CO         98050472304
11M594        TRAILER        IN        86        KTY        1KKVE4824GL075304        BH         CO         CO         98050472315
11M600        TRAILER        IN        86        KTY        1KKVE482XGL075310        BH         CO         CO         98050472324
11M601        TRAILER        IN        86        KTY        1KKVE4821GL075311        BH         CO         CO         98050472342
11M604        TRAILER        IN        86        KTY        1KKVE4827GL075314        BH         CO         CO         98050472351
11M605        TRAILER        IN        86        KTY        1KKVE4829GL075315        BH         CO         CO         98050472364
11M606        TRAILER        IN        86        KTY        1KKVE4820GL075316        BH         CO         CO         98050472375
11M607        TRAILER        IN        86        KTY        1KKVE4822GL075317        BH         CO         CO         98050472383
11M610        TRAILER        IN        86        KTY        1KKVE4822GL075320        BH         CO         CO         98050472393
11M618        TRAILER        IN        86        KTY        1KKVE4827GL075328        HV         CO         CO         98050472401
11M619        TRAILER        IN        86        KTY        1KKVE4829GL075329        BH         CO         CO         98050472414
11M620        TRAILER        IN        86        KTY        1KKVE4825GL075330        BH         CO         CO         98050472420
11M634        TRAILER        IN        86        KTY        1KKVE4825GL075344        BH         CO         CO         98050472437
11M641        TRAILER        IN        86        KTY        1KKVE4822GL075351        BH         CO         CO         98050472444

</TABLE>

<PAGE>

Page 33

LIST OF NORTH AMERICAN VAN LINES TITLED EQUIPMENT AS OF 10/30/99

<TABLE>
<CAPTION>

                             LIC                            SERIAL                                                    TITLE
UNIT          TYPE           ST        YR        MAKE       NUMBER                   DIV        SUB        FC         NUMBER
----          ----           --        --        ----       ------                   ---        ---        --         ------
<S>           <C>           <C>       <C>        <C>        <C>                     <C>        <C>        <C>         <C>
11M649        TRAILER        IN        86        KTY        1KKVE4827GL075359        BH        CO          CO        98050472463
11M650        TRAILER        IN        86        KTY        1KKVE4823GLO75360        BH        CO          CO        98050472472
11M651        TRAILER        IN        86        KTY        1KKVE4825GL075361        BH        CO          CO        98050472481
11M652        TRAILER        IN        86        KTY        1KKVE4827GL075362        BH        CO          CO        98050472485
11M653        TRAILER        IN        86        KTY        1KKVE4829GL075363        BH        CO          CO        98050472492
11M656        TRAILER        IN        86        KTY        1KKVE4824GL075366        BH        CO          CO        98050472500
11M666        TRAILER        IN        86        KTY        1KKVE4827GL075376        BH        CO          CO        98050472508
11M667        TRAILER        IN        86        KTY        1KKVE4829GL075377        BH        CO          CO        98050472515
11M669        TRAILER        IN        86        KTY        1KKVE4822GL075379        RS        CO          CO        98050472527
11M674        TRAILER        IN        86        KTY        1KKVE4826GL075384        BH        CO          CO        98050472554
11M682        TRAILER        IN        86        KTY        1KKVE4825GL075392        BH        CO          CO        98050472564
11M683        TRAILER        IN        86        KTY        1KKVE4827GL075393        BH        CO          CO        98050472572
11M685        TRAILER        IN        86        KTY        1KKVE4820GL075395        BH        CO          CO        98050472581
11M686        TRAILER        IN        86        KTY        1KKVE4822GL075396        BH        CO          CO        98050472590
11M687        TRAILER        IN        86        KTY        1KKVE4824GL075397        HV        DC          D4        98050472599
11M688        TRAILER        IN        86        KTY        1KKVE4826GL075398        BH        CO          CO        98050472607
11M689        TRAILER        IN        86        KTY        1KKVE4828GL075399        BH        CO          CO        98050472617
11M690        TRAILER        IN        86        KTY        1KKVE4820GL075400        BH        CO          CO        98050472635
11M694        TRAILER        IN        86        KTY        1KKVE4828GL075404        BH        CO          CO        98050472419
11M696        TRAILER        IN        86        KTY        1KKVE4821GL075406        BH        CO          CO        98050472428
11M700        TRAILER        IN        86        KTY        1KKVE4823GL075410        BH        CO          CO        98050472433
11M704        TRAILER        IN        86        KTY        1KKVE4820GL075414        BH        CO          CO        98050472441
11M708        TRAILER        IN        86        KTY        1KKVE4828GL075418        BH        CO          CO        98050472448
11M709        TRAILER        IN        86        KTY        1KKVE482XGL075419        BH        CO          CO        98050472455
11M710        TRAILER        IN        86        KTY        1KKVE4826GL075420        BH        CO          CO        98050472462
11M711        TRAILER        IN        86        KTY        1KKVE4828GL075421        BH        CO          CO        98050472468
11M713        TRAILER        IN        86        KTY        1KKVE5821GL075423        BH        CO          CO        98050472477
11M715        TRAILER        IN        86        KTY        1KKVE4825GL075425        BH        CO          CO        98050472483
11M718        TRAILER        IN        86        KTY        1KKVE4820GL075428        BH        CO          CO        98050472489
11M721        TRAILER        IN        86        KTY        1KKVE4820GL075431        BH        CO          CO        98050472494
11M723        TRAILER        IN        86        KTY        1KKVE4824GL075433        BH        CO          CO        98050472504
11M725        TRAILER        IN        90        KTY        1KKVA4820LL086080        BH        CO          CO        98050472510
11M726        TRAILER        IN        90        KTY        1KKVA4822LL086081        BH        CO          CO        98050472519
11M727        TRAILER        IN        90        KTY        1KKVA4824LL086082        BH        CO          CO        98050472525
11M728        TRAILER        IN        90        KTY        1KKVA4828LL086084        BH        CO          CO        98050472534
11M729        TRAILER        IN        90        KTY        1KKVA482XLL086085        BH        CO          CO        98050472544
11M730        TRAILER        IN        90        KTY        1KKVA4821LL086086        BH        CO          CO        98050472552
11M732        TRAILER        IN        90        KTY        1KKVA4825LL086088        BH        CO          CO        98050472561
11M733        TRAILER        IN        90        KTY        1KKVA4827LL086089        BH        CO          CO        98050472569
11M734        TRAILER        IN        90        KTY        1KKVA4825LL086091        BH        CO          CO        98050472578
11M735        TRAILER        IN        90        KTY        1KKVA4827LL086092        BH        CO          CO        98050472587
11M736        TRAILER        IN        90        KTY        1KKVA4829LL086093        BH        CO          CO        98050472595
11M737        TRAILER        IN        90        KTY        1KKVA4820LL086094        BH        CO          CO        98050472605
11M738        TRAILER        IN        90        KTY        1KKVA4822LL086095        BH        CO          CO        98050472611
11M739        TRAILER        IN        90        KTY        1KKVA4824LL086096        BH        CO          CO        98050472619
11M740        TRAILER        IN        90        KTY        1KKVA4826LL086097        BH        CO          CO        98050472627
11M741        TRAILER        IN        90        KTY        1KKVA4828LL086098        BH        CO          CO        98050472634
11M742        TRAILER        IN        90        KTY        1KKVA482XLL086099        BH        CO          CO        98050472645
11M743        TRAILER        IN        90        KTY        1KKVA4822LL086100        BH        CO          CO        98050472650
11M744        TRAILER        IN        90        KTY        1KKVA4824LL086101        BH        CO          CO        98050472659

</TABLE>

<PAGE>

PAGE 34

LIST OF NORTH AMERICAN VAN LINES TITLED EQUIPMENT AS OF 10/30/99
<TABLE>
<CAPTION>

                             LIC                            SERIAL                                                    TITLE
UNIT          TYPE           ST        YR        MAKE       NUMBER                   DIV        SUB        FC         NUMBER
----          ----           ---       --        ----       ------                   ---        ---        --         ------
<S>           <C>            <C>       <C>       <C>        <C>                      <C>        <C>        <C>        <C>
11M745        TRAILER        IN        90        KTY        1KKVA4826LL086102        BH         CO         CO         98050472668
11M746        TRAILER        IN        90        KTY        1KKVA4828LL086103        BH         CO         CO         98050472679
11M747        TRAILER        IN        90        KTY        1KKVA482XLL086104        BH         CO         CO         98050472688
11M749        TRAILER        IN        90        KTY        1KKVA4823LL086106        BH         CO         CO         98050472704
11M750        TRAILER        IN        90        KTY        1KKVA4825LL086107        BH         CO         CO         98050472711
11M751        TRAILER        IN        90        KTY        1KKVA4827LL086108        BH         CO         CO         98050472720
11M752        TRAILER        IN        90        KTY        1KKVA4829LL086109        BH         CO         CO         98050472730
11M753        TRAILER        IN        90        KTY        1KKVA4825LL086110        BH         CO         CO         98050472748
11M754        TRAILER        IN        90        KTY        1KKVA4827LL086111        BH         CO         CO         98050472759
11M755        TRAILER        IN        90        KTY        1KKVA4826LL086083        RS         CO         CO         98050472769
11M756        TRAILER        IN        90        KTY        1KKVA4823LL086090        BH         CO         CO         98050472779
11M757        TRAILER        IN        90        STK        1S12E9487LE328905        RS         CL         LA         98050472789
11M758        TRAILER        IN        90        STK        1S12E9489LE328906        BH         CO         CO         98050472800
11M759        TRAILER        IN        90        STK        1S12E9480LE328907        BH         CO         CO         98050472808
11M760        TRAILER        IN        90        STK        1S12E9482LE328908        BH         CO         CO         98050472818
11M761        TRAILER        IN        90        STK        1S12E9484LE328909        BH         CO         CO         98050472826
11M762        TRAILER        IN        90        STK        1S12E9480LE328910        BH         CO         CO         98050472833
11M763        TRAILER        IN        90        STK        1S12E9482LE328911        BH         CO         CO         98050472842
11M764        TRAILER        IN        90        STK        1S12E9484LE328912        RS         CL         LA         98050472523
11M765        TRAILER        IN        90        STK        1S12E9486LE328913        BH         CO         CO         98050472535
11M766        TRAILER        IN        90        STK        1S12E9488LE328914        RS         CL         LA         98050472543
11M768        TRAILER        IN        90        STK        1S12E9481LE328916        RS         CO         CO         98050472557
11M769        TRAILER        IN        90        STK        1S12E9483LE328917        RS         CL         LA         98050472565
11M770        TRAILER        IN        90        STK        1S12E9485LE328918        BH         CO         CO         98050472576
11M771        TRAILER        IN        90        STK        1S12E9487LE328919        BH         CO         CO         98050472585
11M772        TRAILER        IN        90        STK        1S12E9483LE328920        BH         CO         CO         98050472594
11M773        TRAILER        IN        90        STK        1S12E9485LE328921        BH         CO         CO         98050472610
11M774        TRAILER        IN        90        STK        1S12E9487LE328922        RS         CL         LA         98050472620
11M775        TRAILER        IN        90        STK        1S12E9489LE328923        BH         CO         CO         98050472629
11M776        TRAILER        IN        90        STK        1S12E9480LE328924        BH         CO         CO         98050472640
11M777        TRAILER        IN        90        STK        1S12E9482LE328925        BH         CO         CO         98050472648
11M778        TRAILER        IN        90        STK        1S12E9484LE328926        BH         CO         CO         98050472655
11M779        TRAILER        IN        90        STK        1S12E9486LE328927        BH         CO         CO         98050472665
11M780        TRAILER        IN        90        STK        1S12E9488LE328928        BH         CO         CO         98050472675
11M782        TRAILER        IN        90        STK        1S12E9486LE328930        BH         CO         CO         98050472687
11M784        TRAILER        IN        90        STK        1S12E948XLE328932        HV         CO         CO         98050472699
11M785        TRAILER        IN        90        STK        1S12E9481LE328933        BH         CO         CO         98050472709
11M786        TRAILER        IN        90        STK        1S12E9483LE328934        BH         CO         CO         98050472717
11M787        TRAILER        IN        90        STK        1S12E9485LE328935        BH         CO         CO         98050472728
11M788        TRAILER        IN        90        STK        1S12E9487LE328936        RS         CO         CO         98050472741
11M789        TRAILER        IN        90        STK        1S12E9489LE328937        BH         CO         CO         98050472751
11M790        TRAILER        IN        90        STK        1S12E9480LE328938        BH         CO         CO         98050472762
11M791        TRAILER        IN        90        STK        1S12E9482LE328939        BH         CO         CO         98050472774
11M792        TRAILER        IN        90        STK        1S12E9489LE328940        BH         CO         CO         98050472784
11M793        TRAILER        IN        90        STK        1S12E9480LE328941        BH         CO         CO         98050472795
11M794        TRAILER        IN        90        STK        1S12E9482LE328942        RS         CO         CO         98050472805
11M797        TRAILER        IN        90        STK        1S12E9488LE328945        BH         CO         CO         98050472814
11M798        TRAILER        IN        90        STK        1S12E948XLE328946        BH         CO         CO         98050472824
11M799        TRAILER        IN        90        STK        1S12E9481LE328947        BH         CO         CO         98050472834
11M800        TRAILER        IN        90        STK        1S12E9483LE328948        BH         CO         CO         98050472848

</TABLE>

<PAGE>

PAGE 35

LIST OF NORTH AMERICAN VAN LINES TITLED EQUIPMENT AS OF 10/30/99

<TABLE>
<CAPTION>

                             LIC                            SERIAL                                                    TITLE
UNIT          TYPE           ST        YR        MAKE       NUMBER                   DIV        SUB        FC         NUMBER
----          ----           --        --        ----       ------                   ---        ---        --         ------
<S>           <C>            <C>       <C>       <C>        <C>                      <C>        <C>        <C>        <C>
11M801        TRAILER        IN        90        STK        1S12E9485LE328949        BH         CO         CO         98050472857
11M802        TRAILER        IN        90        STK        1S12E9481LE328950        RS         CO         CO         98050472869
11M803        TRAILER        IN        90        STK        1S12E9483LE328951        RS         CO         CO         98050472878
11M804        TRAILER        IN        90        STK        1S1ZE9485LE328952        BH         CO         CO         98050472885
11M805        TRAILER        IN        90        STK        1S12E9487LE328953        BH         CO         CO         98050472898
11M806        TRAILER        IN        90        STK        1S12E9489LE328954        BH         CO         CO         98050472910
11M808        TRAILER        IN        90        STK        1S12E9482LE328956        BH         CO         CO         98050472917
11M809        TRAILER        IN        90        STK        1S12E9484LE328957        RS         CL         LA         98050472925
11M810        TRAILER        IN        90        STK        1S12E9486LE328958        RS         CL         LA         98050472935
11M811        TRAILER        IN        90        STK        1S12E9488LE328959        BH         CO         CO         98050472944
11M812        TRAILER        IN        90        STK        1S12E9484LE328960        BH         CO         CO         98050472953
11M813        TRAILER        IN        90        STK        1S12E9486LE328961        BH         CO         CO         98050472961
11M814        TRAILER        IN        90        STK        1S12E9488LE328962        RS         CL         LA         98050472967
11M815        TRAILER        IN        90        STK        1S12E948XLE328963        RS         CL         LA         98050472972
11M816        TRAILER        IN        90        STK        1S12E9481LE328964        BH         CO         CO         98050472980
11M817        TRAILER        IN        90        STK        1S12E9483LE328965        BH         CO         CO         98050472984
11M818        TRAILER        IN        90        STK        1S12E9485LE328966        BH         CO         CO         98050472992
11M819        TRAILER        IN        90        STK        1S12E9487LE328967        BH         CO         CO         98050473012
11M820        TRAILER        IN        90        STK        1S12E9489LE328968        RS         CO         CO         98050473080
11M821        TRAILER        IN        90        STK        1S12E9480LE328969        BH         CO         CO         98050473092
11M822        TRAILER        IN        90        STK        1S12E9487LE328970        BH         CO         CO         98050473101
11M825        TRAILER        IN        90        STK        1S12E9482LE328973        BH         CO         CO         98050473114
11M826        TRAILER        IN        90        STK        1S12E9484LE328974        BH         CO         CO         98050473126
11M827        TRAILER        IN        90        STK        1S12E9486LE328975        BH         CO         CO         98050473135
11M829        TRAILER        IN        90        STK        1S12E948XLE328977        BH         CO         CO         98050473144
11M830        TRAILER        IN        90        STK        1S12E9481LE328978        BH         CO         CO         98050473152
11M831        TRAILER        IN        90        STK        1S12E9483LE328979        BH         CO         CO         98050473161
11M833        TRAILER        IN        90        STK        1S12E9481LE328981        BH         CO         CO         98050473170
11M834        TRAILER        IN        90        STK        1S12E9483LE328982        RS         CL         LA         98050473180
11M835        TRAILER        IN        90        STK        1S12E9485LE328983        BH         CO         CO         98050473189
11M836        TRAILER        IN        90        STK        1S12E9487LE328984        BH         CO         CO         98050473201
11M838        TRAILER        IN        90        STK        1S12E9480LE328986        BH         CO         CO         98050473206
11M839        TRAILER        IN        90        STK        1S12E9482LE328987        BH         CO         CO         98050473215
11M841        TRAILER        IN        90        STK        1S12E9486LE328989        BH         CO         CO         98050473224
11M842        TRAILER        IN        90        STK        1S12E9482LE328990        BH         CO         CO         98050473234
11M844        TRAILER        IN        90        STK        1S12E9486LE328992        RS         CO         CO         98050473241
11M845        TRAILER        IN        90        STK        1S12E9488LE328993        BH         CO         CO         98050473245
11M846        TRAILER        IN        90        STK        1S12E948XLE328994        BH         CO         CO         98050473251
11M847        TRAILER        IN        90        STK        1S12E9481LE328995        RS         CL         LA         98050473260
11M850        TRAILER        IN        90        STK        1S12E9487LE328998        RS         CL         LA         98050473269
11M851        TRAILER        IN        90        STK        1S12E9489LE328999        BH         CO         CO         98050473276
11M852        TRAILER        IN        90        STK        1S12E948XLE329000        BH         CO         CO         98050473285
11M853        TRAILER        IN        90        STK        1S12E9481LE329001        FD         TR         TG         98050473293
11M854        TRAILER        IN        90        STK        1S12E9483LE329002        RS         CL         LA         98050473301
11M855        TRAILER        IN        90        STK        1S12E9485LE329003        BH         CO         CO         98050473308
11M856        TRAILER        IN        90        STK        1S12E9487LE329004        HV         CO         CO         98050473312
110004        TRAILER        IN        78        KTY                    57197        RS         CL         LA         98050473319
110005        TRAILER        IN        78        KTY                    57198        RS         CO         CO         98050473323
110007        TRAILER        IN        78        KTY                    57200        RS         CO         CO         98050473330
110013        TRAILER        IN        85        KTY        1KKVE4827FL070452        RS         CO         CO         98050473747

</TABLE>

<PAGE>

PAGE        36

             LIST OF NORTH AMERICAN VAN LINES TITLED EQUIPMENT AS OF 10/30/99

<TABLE>
<CAPTION>
                         LIC                    SERIAL                                         TITLE
UNIT         TYPE        ST      YR    MAKE     NUMBER                  DIV     SUB    FC      NUMBER
----         ----        ---     --    ----     ------                  ---     ---    --      ------
<S>          <C>         <C>     <C>   <C>      <C>                     <C>     <C>    <C>     <C>
110025       TRAILER     IN      78    KTY                  57366       RS      CO     CO      98050473749
110026       TRAILER     IN      78    KTY                  57367       RS      CL     LA      98050473750
110028       TRAILER     IN      78    KTY                  57369       RS      CO     CO      98050473753
110030       TRAILER     IN      78    KTY                  57371       RS      CO     CO      98050473756
110033       TRAILER     IN      78    KTY                  57374       HV      CL     LA      98050473765
110244       TRAILER     IN      79    KTY                  56986       RS      CO     CO      98050473786
110619       TRAILER     IN      79    KTY                  57762       RS      CO     CO      98050473788
110624       TRAILER     IN      79    KTY                  57767       RS      CO     CO      98050472443
110628       TRAILER     IN      79    KTY                  57771       RS      CO     CO      98050472459
110629       TRAILER     IN      79    KTY                  57772       RS      CO     CO      98050472476
110632       TRAILER     IN      79    KTY                  57775       RS      CO     CO      98050472499
110634       TRAILER     IN      79    KTY                  57777       RS      CO     CO      98050472531
110636       TRAILER     IN      79    KTY                  57779       RS      CO     CO      98050472549
110637       TRAILER     IN      79    KTY                  57780       RS      CO     CO      98050472567
110722       TRAILER     IN      79    KTY                  58457       RS      CO     CO      98050472582
110803       TRAILER     IN      79    KTY                  59428       RS      CO     CO      98050472598
110807       TRAILER     IN      79    KTY                  59432       RS      CO     CO      98050472613
110810       TRAILER     IN      79    KTY                  59435       RS      CO     CO      98050472637
110818       TRAILER     IN      79    KTY                  59443       RS      CO     CO      98050472652
110973       TRAILER     IN      88    KTY      1KKVE4720JL081724       HV      CO     CO      98050472673
110975       TRAILER     IN      88    KTY      1KKVE4722JL081725       HV      CO     CO      98050472691
110976       TRAILER     IN      88    KTY      1KKVE4724JL081726       HV      CO     CO      98050472707
110977       TRAILER     IN      88    KTY      1KKVE4726JL081727       HV      CL     LA      98050472722
110978       TRAILER     IN      88    KTY      1KKVE4728JL081728       HV      CO     CO      98050472736
110980       TRAILER     IN      88    KTY      1KKVE472XJL081729       HV      CO     CO      98050472747
110981       TRAILER     IN      88    KTY      1KKVE4726JL081730       HV      CO     CO      98050472764
110982       TRAILER     IN      88    KTY      1KKVE4728JL081731       HV      DC     12      98050472777
110984       TRAILER     IN      88    KTY      1KKVE472XJL081732       HV      CO     CO      98050472788
110989       TRAILER     IN      88    KTY      1KKVE4723JL081734       HV      CO     CO      98050472801
110992       TRAILER     IN      88    KTY      1KKVE4727JL081736       HV      CO     CO      98050472813
110995       TRAILER     IN      88    KTY      1KKVE4729JL081737       HV      CL     LA      98050472828
111000       TRAILER     IN      88    KTY      1KKVE4722JL081739       HV      CO     CO      98050472839
111001       TRAILER     IN      88    KTY      1KKVE4729JL081740       HV      CO     CO      98050472853
111002       TRAILER     IN      88    KTY      1KKVE4720JL081741       HV      CO     CO      98050472862
111003       TRAILER     IN      88    KTY      1KKVE4722JL081742       HV      CL     LA      98050472874
111007       TRAILER     IN      88    KTY      1KKVE4728JL081745       HV      CO     CO      98050472881
111008       TRAILER     IN      88    KTY      1KKVE472XJL081746       HV      CO     CO      98050472891
111009       TRAILER     IN      88    KTY      1KKVE4721JL081747       HV      CO     CO      98050472902
111011       TRAILER     IN      88    KTY      1KKVE4723JL081748       HV      CO     CO      98050472913
111012       TRAILER     IN      88    KTY      1KKVE4725JL081749       HV      CO     CO      98050472927
111014       TRAILER     IN      88    KTY      1KKVE4721JL081750       HV      CO     CO      98050472934
111015       TRAILER     IN      88    KTY      1KKVE4723JL081751       HV      CO     CO      98050472943
111016       TRAILER     IN      88    KTY      1KKVE4725JL081752       HV      CO     CO      98050472951
111018       TRAILER     IN      88    KTY      1KKVE4727JL081753       HV      CO     CO      98050472957
111022       TRAILER     IN      88    KTY      1KKVE4729JL081754       HV      DC     12      98050472966
111024       TRAILER     IN      88    KTY      1KKVE4720JL081755       HV      CO     CO      98050472976
111025       TRAILER     IN      88    KTY      1KKVE4722JL081756       HV      CO     CO      98050472982
111026       TRAILER     IN      88    KTY      1KKVE4724JL081757       HV      CO     CO      98050472990
111027       TRAILER     IN      88    KTY      1KKVE4726JL081758       HV      CO     CO      98050472998
111030       TRAILER     IN      88    KTY      1KKVE4728JL081759       HV      CL     LA      98050473023

</TABLE>

<PAGE>

PAGE 37

LIST OF NORTH AMERICAN VAN LINES TITLED EQUIPMENT AS OF 10/30/99

<TABLE>
<CAPTION>
                             LIC                            SERIAL                                                    TITLE
UNIT               TYPE      ST        YR        MAKE       NUMBER                   DIV        SUB        FC         NUMBER
----               ----      --        --        ----       ------                   ---        ---        --         ------
<S>                <C>       <C>       <C>       <C>        <C>                      <C>        <C>        <C>        <C>
111031             TRAILER   IN        88        KTY        1KKVE4724JL081760        HV         CO         CO         98050473031
111036             TRAILER   IN        88        KTY        1KKVE4728JL081762        HV         CO         CO         98050473039
111037             TRAILER   IN        88        KTY        1KKVE472XJL081763        HV         CO         CO         98050473049
111039             TRAILER   IN        88        KTY        1KKVE4721JL081764        HV         CO         CO         98050473059
111043             TRAILER   IN        88        KTY        1KKVE4725JL081766        RS         CL         LA         98050473070
111045             TRAILER   IN        88        KTY        1KKVE4727JL081767        HV         CO         CO         98050472570
111050             TRAILER   IN        88        KTY        1KKVE4720JL081769        HV         CO         CO         98050472591
111051             TRAILER   IN        88        KTY        1KKVE4727JL081770        HV         CO         CO         98050472604
111052             TRAILER   IN        88        KTY        1KKVE4729JL081771        HV         CO         CO         98050472616
111053             TRAILER   IN        88        KTY        1KKVE4720JL081772        HV         CO         CO         98050472633
111055             TRAILER   IN        88        KTY        1KKVE4722JL081773        HV         CO         CO         98050472641
111057             TRAILER   IN        88        KTY        1KKVE4724JL081774        HV         CO         CO         98050472656
111058             TRAILER   IN        88        KTY        1KKVE4726JL081775        HV         CO         CO         98050472667
111059             TRAILER   IN        88        KTY        1KKVE4728JL081776        HV         CO         CO         98050472680
111060             TRAILER   IN        88        KTY        1KKVE472XJL081777        HV         CO         CO         98050472685
111061             TRAILER   IN        88        KTY        1KKVE4721JL081778        HV         CO         CO         98050472696
111062             TRAILER   IN        88        KTY        1KKVE4723JL081779        HV         CO         CO         98050472708
111064             TRAILER   IN        88        KTY        1KKVE472XJL081780        HV         AG         LF         98050472718
111065             TRAILER   IN        88        KTY        1KKVE4721JL081781        HV         CO         CO         98050472731
111067             TRAILER   IN        88        KTY        1KKVE4725JL081783        HV         CO         CO         98050472739
111068             TRAILER   IN        88        KTY        1KKVE4727JL081784        HV         CO         CO         98050472746
111069             TRAILER   IN        88        KTY        1KKVE4729JL081785        HV         CO         CO         98050472757
111070             TRAILER   IN        88        KTY        1KKVE4720JL081786        HV         CO         CO         98050472767
111073             TRAILER   IN        88        KTY        1KKVE4724JL081788        HV         CO         CO         98050472778
111074             TRAILER   IN        88        KTY        1KKVE4726JL081789        HV         CO         CO         98050472787
111075             TRAILER   IN        88        KTY        1KKVE4722JL081790        HV         CO         CO         98050472798
111076             TRAILER   IN        88        KTY        1KKVE4724JL081791        HV         CO         CO         98050472816
111077             TRAILER   IN        88        KTY        1KKVE4726JL081792        HV         OC         12         98050472825
111079             TRAILER   IN        88        KTY        1KKVE4728JL081793        HV         CO         CO         98050472836
111080             TRAILER   IN        88        KTY        1KKVE472XJL081794        HV         CO         CO         98050472847
111083             TRAILER   IN        88        KTY        1KKVE4721JL081795        HV         CO         CO         98050472856
111084             TRAILER   IN        88        KTY        1KKVE4723JL081796        HV         CO         CO         98050472864
111089             TRAILER   IN        88        KTY        1KKVE4729JL081799        HV         CL         LA         98050472883
111090             TRAILER   IN        88        KTY        1KKVE4721JL081800        HV         CO         CO         98050472892
111092             TRAILER   IN        88        KTY        1KKVE4725JL081802        HV         CO         CO         98050472900
111093             TRAILER   IN        88        KTY        1KKVE4727JL081803        HV         CO         CO         98050472906
111094             TRAILER   IN        88        KTY        1KKVE4729JL081804        HV         CO         CO         98050472915
111095             TRAILER   IN        88        KTY        1KKVE4720JL081805        HV         CL         LA         98050472924
111096             TRAILER   IN        88        KTY        1KKVE4722JL081806        HV         CO         CO         98050472930
111104             TRAILER   IN        88        KTY        1KKVE4728JL081809        HV         CO         CO         98050472960
111105             TRAILER   IN        88        KTY        1KKVE4724JL081810        RS         CL         LA         98050472948
111107             TRAILER   IN        88        KTY        1KKVE4728JL081812        HV         CO         CO         98050472970
111108             TRAILER   IN        88        KTY        1KKVE472XJL081813        HV         CO         CO         98050472978
111109             TRAILER   IN        88        KTY        1KKVR4524JL082480        HV         OC         12         98050472987
111112             TRAILER   IN        88        KTY        1KKVR4526JL082481        HV         CO         CO         98050472993
111117             TRAILER   IN        88        KTY        1KKVR452XJL082483        HV         CO         CO         98050473030
111119             TRAILER   IN        88        KTY        1KKVR4521JL082484        HV         CO         CO         98050473038
111220             TRAILER   IN        88        KTY        1KKVR4523JL082485        HV         CO         CO         98050473043
111212             TRAILER   IN        79        KTY                    59731        RS         CO         CO         98050473062
111213             TRAILER   IN        79        KTY                   059732        RS         CO         CO         98050473066

</TABLE>
<PAGE>

PAGE       38

LIST OF NORTH AMERICAN VAN LINES TITLED EQUIPMENT AS OF 10/30/99

<TABLE>
<CAPTION>
                             LIC                            SERIAL                                                    TITLE
UNIT          TYPE           ST        YR        MAKE       NUMBER                   DIV        SUB        FC         NUMBER
----          ----           ---       --        ----       ------                   ---        ---        --         ------
<S>           <C>            <C>       <C>       <C>        <C>                      <C>        <C>        <C>        <C>
111214        TRAILER        IN        79        KTY                    59733        RS         CO         CO         98050473073
111215        TRAILER        IN        79        KTY                    59734        RS         CO         CO         98050473081
111216        TRAILER        IN        79        KTY                    59735        RS         CO         CO         98050473089
111217        TRAILER        IN        79        KTY                    59736        RS         CO         CO         98050472501
111218        TRAILER        IN        79        KTY                    59737        RS         CO         CO         98050472512
111219        TRAILER        IN        79        KTY                    59738        RS         CO         CO         98050472520
111220        TRAILER        IN        79        KTY                    59739        RS         CO         CO         98050472524
111224        TRAILER        IN        79        KTY                    59743        RS         CO         CO         98050472530
111227        TRAILER        IN        79        KTY                    59716        RS         CL         LA         98050472546
111236        TRAILER        IN        79        KTY                    59725        RS         CO         CO         98050472560
111242        TRAILER        IN        79        KTY                    59729        RS         CO         CO         98050472577
111304        TRAILER        IN        85        GTD        1GRDM9629FM104707        RS         CL         LA         98050472593
111305        TRAILER        IN        85        GTD        1GRDM962XFM104702        RS         CL         LA         98050472602
111306        TRAILER        IN        85        GTD        1GRDM9629FM094003        RS         CO         CO         98050472612
111307        TRAILER        IN        85        GTD        1GRDM9620FM104708        RS         CO         CO         98050472618
111308        TRAILER        IN        80        KTY                    60158        RS         CO         CO         98050472625
111309        TRAILER        IN        80        KTY                    60159        RS         CL         LA         98050472632
111311        TRAILER        IN        80        KTY                    60161        RS         CL         LA         98050472639
111312        TRAILER        IN        80        KTY                    60162        RS         CO         CO         98050472647
111313        TRAILER        IN        80        KTY                    60163        RS         CO         CO         98050472653
111314        TRAILER        IN        85        GTD        1GRDM9625FM094001        RS         CL         LA         98050472660
111316        TRAILER        IN        80        KTY                    60165        RS         CL         LA         98050472669
111318        TRAILER        IN        80        KTY                    60167        RS         CO         CO         98050472676
111319        TRAILER        IN        80        KTY                    60168        RS         CL         LA         98050472682
111321        TRAILER        IN        85        GTD        1GRDM9621FM104703        RS         CL         LA         98050472698
111327        TRAILER        IN        80        KTY                    60175        RS         CO         CO         98050472726
111330        TRAILER        IN        80        KTY                    60178        RS         CO         CO         98050472732
111331        TRAILER        IN        80        KTY                    60179        RS         CO         CO         98050472742
111332        TRAILER        IN        80        KTY                   060180        RS         CO         CO         98050472750
111333        TRAILER        IN        80        KTY                    60181        RS         CO         CO         98050473945
111334        TRAILER        IN        80        KTY                    60182        RS         CO         CO         98050472766
111335        TRAILER        IN        80        KTY                    60183        RS         CO         CO         98050472775
111336        TRAILER        IN        80        KTY                    60184        RS         CO         CO         98050472786
111337        TRAILER        IN        80        KTY                    60185        RS         CO         CO         98050472793
111338        TRAILER        IN        80        KTY                    60186        RS         CO         CO         98050472796
111340        TRAILER        IN        85        GTD        1GRDM9627FM094002        RS         CL         LA         98050472807
111341        TRAILER        IN        80        KTY                    60188        RS         CO         CO         98050472817
111342        TRAILER        IN        80        KTY                    60189        RS         CL         LA         98050472822
111343        TRAILER        IN        80        KTY                    60190        RS         CO         CO         98050472829
111344        TRAILER        IN        85        GTD        1GRDM9623FM104704        RS         CL         LA         98050472838
111346        TRAILER        IN        80        KTY                    60191        RS         CO         CO         98050472846
111349        TRAILER        IN        80        KTY                    60194        RS         CO         CO         98050472852
111350        TRAILER        IN        80        KTY                    60195        RS         CO         CO         98050472859
111351        TRAILER        IN        80        KTY                    60196        RS         CO         CO         98050472866
111352        TRAILER        IN        80        KTY                    60197        RS         CO         CO         98050472871
111353        TRAILER        IN        80        KTY                    60198        RS         CO         CO         98050472094
111355        TRAILER        IN        80        KTY                    60200        RS         CO         CO         98050472099
111356        TRAILER        IN        80        KTY                    60201        RS         CL         LA         98050472104
111358        TRAILER        IN        80        KTY                    60203        FD         TR         TG         98050472110
111360        TRAILER        IN        80        KTY                    60205        RS         CO         CO         98050472116
</TABLE>

<PAGE>

PAGE 39

LIST OF NORTH AMERICAN VAN LINES TITLED EQUIPMENT AS OF 10/30/99

<TABLE>
<CAPTION>
                   LIC                              SERIAL                                         TITLE
 UNIT    TYPE      ST          YR      MAKE         NUMBER             DIV        SUB      FC     NUMBER
------  -------  --------   --------   ----  ---------------------   --------   --------   ---  -----------
<S>     <C>      <C>        <C>        <C>   <C>                     <C>        <C>        <C>  <C>
111361  TRAILER     IN         80      KTY                   60206      RS         CO      CO   98050472121
111362  TRAILER     IN         80      KTY                   60207      RS         CO      CO   98050472127
111394  TRAILER     IN         85      GTO       1GRDM9628FM104701      RS         CO      CO   98050472334
111973  TRAILER     IN         85      STM       2S9FV4825FB015004      HV         CO      CO   98050472346
111978  TRAILER     IN         85      STM       2S9FV4822F8015008      FD         TR      TG   98050472355
111981  TRAILER     IN         68      KTY                   35654      FS         SL      TP   98050472369
111987  TRAILER     IN         86      MON       2M9V72438G1005167      FD         TR      TG   98050472363
111988  TRAILER     IN         86      MON       2M9V72431G1005110      FD         TR      TG   98050472377
111990  TRAILER     IN         85      STM       2S9FV4821FB015002      HV         CO      CO   98050472382
111991  TRAILER     IN         85      STM       2S9FV4824FB015009      FD         TR      TG   98050472390
112011  TRAILER     IN         86      MON       2M9V72431G1005107      FD         TR      TG   98050142079
112012  TRAILER     IN         85      MON       2M9V72437F1005157      FD         TR      TG   98050472403
112477  TRAILER     IN         70      KTY                   38271      RS         CL      LA   98050472411
112484  TRAILER     IN         70      KTY                   38278      FD         TR      LD   98050472417
112520  TRAILER     IN         70      KTY                   38314      RS         CO      CO   98050472445
112836  TRAILER     IN         80      KTY                   61044      RS         CO      CO   98050472276
112837  TRAILER     IN         80      KTY                   61045      RS         CO      CO   98050472460
112856  TRAILER     IN         80      KTY                   61050      RS         CO      CO   98050472482
112859  TRAILER     IN         80      KTY                   61053      RS         CO      CO   98050472488
112860  TRAILER     IN         80      KTY                   61054      RS         CO      CO   98050472491
112863  TRAILER     IN         80      KTY                   61057      RS         CO      CO   98050472497
112872  TRAILER     IN         80      KTY                   61062      RS         CO      CO   98050472529
112875  TRAILER     IN         80      KTY                   61064      RS         CO      CO   98050472536
112893  TRAILER     IN         80      KTY                   61071      RS         CO      CO   98050472548
112900  TRAILER     IN         80      KTY                   61072      RS         CO      CO   98050472553
112902  TRAILER     IN         80      KTY                   61073      RS         CO      CO   98050472559
112903  TRAILER     IN         80      KTY                   61074      RS         CL      LA   98050472566
112914  TRAILER     IN         80      KTY                   61079      RS         CO      CO   98050472575
112918  TRAILER     IN         80      KTY                   61082      RS         CL      LA   98050472615
112921  TRAILER     IN         80      KTY                   61084      RS         CO      CO   98050472588
112925  TRAILER     IN         80      KTY                   61087      RS         CO      CO   80184045055
112927  TRAILER     IN         80      KTY                   61089      RS         CO      CO   98050472601
112929  TRAILER     IN         80      KTY                   61090      RS         CL      LA   98050472606
112931  TRAILER     IN         80      KTY                   61092      RS         CO      CO   98050472626
112932  TRAILER     IN         80      KTY                   61093      RS         CL      LA   98050472630
112933  TRAILER     IN         80      KTY                   61094      RS         CL      LA   98050472638
112943  TRAILER     IN         80      KTY                   61100      RS         CL      LA   98050472644
112944  TRAILER     IN         80      KTY                   61101      RS         CO      CO   98050472661
112948  TRAILER     IN         80      KTY                   61104      RS         CO      CO   98050472651
112965  TRAILER     IN         80      KTY                   61109      RS         CO      CO   98050472670
112970  TRAILER     IN         80      KTY                   61113      RS         CO      CO   98050472677
112972  TRAILER     IN         80      KTY                   61114      RS         CL      LA   98050472684
112973  TRAILER     IN         80      KTY                   61115      RS         CO      CO   98050472689
112974  TRAILER     IN         80      KTY                   61116      RS         CO      CO   98050472694
112975  TRAILER     IN         80      KTY                   61117      RS         CL      LA   98050472700
112976  TRAILER     IN         80      KTY                   61118      RS         CL      LA   98050472706
112979  TRAILER     IN         80      KTY                   61120      RS         CO      CO   98050472712
112981  TRAILER     IN         80      KTY                   61122      RS         CO      CO   98050472719
112982  TRAILER     IN         80      KTY                   61123      RS         CO      CO   98050472724
119284  TRAILER     IN         80      KTY                   61124      RS         CO      CO   98050472733
</TABLE>

<PAGE>
PAGE 40

LIST OF NORTH AMERICAN VAN LINES TITLED EQUIPMENT AS OF 10/30/99

<TABLE>
<CAPTION>
                   LIC                              SERIAL                                         TITLE
 UNIT    TYPE       ST         YR      MAKE         NUMBER             DIV        SUB      FC     NUMBER
------  -------  --------   --------   ----  ---------------------   --------   --------   ---  -----------
<S>     <C>      <C>        <C>        <C>   <C>                     <C>        <C>        <C>  <C>
112991  TRAILER     IN         80      KTY                   61127      RS         CO      CO   98050472737
112992  TRAILER     IN         80      KTY                   61128      RS         CO      CO   98050472745
112993  TRAILER     IN         80      KTY                   61129      RS         CO      CO   98050472752
112995  TRAILER     IN         80      KTY                   61130      RS         CL      LA   98050472758
113002  TRAILER     IN         80      KTY                   61133      RS         CO      CO   98050472765
113003  TRAILER     IN         80      KTY                   61134      RS         CO      CO   98050472770
113009  TRAILER     IN         80      KTY                   61136      RS         CL      LA   98050472776
113016  TRAILER     IN         80      KTY                   61139      RS         CL      LA   98050472782
113017  TRAILER     IN         80      KTY                   61140      RS         CL      LA   98050472792
113018  TRAILER     IN         80      KTY                   61141      RS         CL      LA   98050472797
113021  TRAILER     IN         80      KTY                   61144      RS         CL      LA   98050472809
113028  TRAILER     IN         80      KTY                   61148      RS         CO      CO   98050472815
113031  TRAILER     IN         80      KTY                   61151      RS         CL      LA   98050472821
113033  TRAILER     IN         80      KTY                   61152      RS         CL      LA   98050472827
113035  TRAILER     IN         80      KTY                   61153      RS         CO      CO   98050472831
113038  TRAILER     IN         80      KTY                   61154      HV         DC      02   98050472840
113068  TRAILER     IN         80      KTY                   61161      RS         CL      LA   98050472845
113167  TRAILER     IN         86      MON       2M9V72438G1005170      FD         TR      TG   98050472867
113169  TRAILER     IN         86      MON       2M9V72438G1005220      FD         TR      TG   98050472880
113172  TRAILER     IN         86      MON       2M9V72435G1005109      FD         TR      TG   98050472901
113174  TRAILER     IN         85      MON       2M9V72435F1005111      FD         TR      TG   98050472914
113245  TRAILER     IN         72      KTY                   43362      FS         SL      TP   98050472941
113316  TRAILER     IN         85      STM       2S9FV4828FB015224      RS         CO      CO   98050472985
113451  TRAILER     IN         80      KTY                   61174      RS         CL      LA   98050472991
113470  TRAILER     IN         80      KTY                   61742      RS         CO      CO   98050472999
113500  TRAILER     IN         80      KTY                   61755      FD         TR      TG   98050473017
114087  TRAILER     IN         93      KTY       1KKVE4822PL094451      RS         CO      CO   98050473042
114088  TRAILER     IN         93      KTY       1KKVE4824PL094452      RS         CO      CO   98050473044
114090  TRAILER     IN         93      KTY       1KKVE4826PL094453      RS         CO      CO   98050473050
114362  TRAILER     IN         81      KTY       1KKVR3021BL001552      HV         CO      CO   98050473063
114391  TRAILER     IN         81      KTY       1KKVE4226BL000671      RS         CO      CO   98050473071
114438  TRAILER     IN         81      KTY       1KKVE4521BL000766      RS         CO      CO   98050473106
114439  TRAILER     IN         81      KTY       1KKVE4523BL000767      RS         CL      LA   98050473111
114442  TRAILER     IN         81      KTY       1KKVE4529BL000773      RS         CO      CO   98050473119
114443  TRAILER     IN         81      KTY       1KKVE4520BL000774      RS         CO      CO   98050473124
114515  TRAILER     IN         93      FRU       1H2V0281XPB013004      HV         DC      09   98050473133
114517  TRAILER     IN         93      FRU       1H2V02816PB013002      HV         DC      09   98050473138
114518  TRAILER     IN         93      FRU       1H2V02814PB013001      HV         DC      09   98050473142
114523  TRAILER     IN         93      FRU       1H2V02818PB013003      HV         DC      08   98050473146
114679  TRAILER     IN         94      KTY       1KKVE281XRL098715      HV         CO      CO   98050473153
114680  TRAILER     IN         94      KTY       1KKVE2811RL098716      HV         CO      CO   98050473156
114723  TRAILER     IN         81      KTY       1KKVE4227BL001571      RS         CL      LA   98050473163
114729  TRAILER     IN         81      KTY       1KKVE4228BL001577      RS         CL      LA   98050473168
114739  TRAILER     IN         81      KTY       1KKVE4527BL001596      HV         CO      CO   98050473174
114771  TRAILER     IN         82      KTY       1KKVE4528CL000118      RS         CO      CO   98050473176
114773  TRAILER     IN         82      KTY       1KKVE4528CL000121      RS         CO      CO   98050473183
114774  TRAILER     IN         82      KTY       1KKVE4523CL000124      RS         CO      CO   98050473186
114776  TRAILER     IN         82      KTY       1KKVE4525CL000125      RS         CO      CO   98050473193
114787  TRAILER     IN         82      KTY       1KKVE4524CL000133      RS         CO      CO   98050473197
114798  TRAILER     IN         82      KTY       1KKVE4523CL000138      RS         CO      CO   98050473202
</TABLE>

<PAGE>

PAGE 41

LIST OF NORTH AMERICAN VAN LINES TITLED EQUIPMENT AS OF 10/30/99

<TABLE>
<CAPTION>

                   LIC                              SERIAL                                         TITLE
 UNIT    TYPE       ST         YR      MAKE         NUMBER             DIV        SUB      FC     NUMBER
------  -------  --------   --------   ----  ---------------------   --------   --------   ---  -----------
<S>     <C>      <C>        <C>        <C>   <C>                     <C>        <C>        <C>  <C>
114807  TRAILER     IN         82      KTY       1KKVE4521CL000140      RS         CO      CO   98050473209
114813  TRAILER     IN         82      KTY       1KKVE4527CL000143      FD         TR      LD   98050473217
114814  TRAILER     IN         82      KTY       1KKVE4529CL000144      RS         CO      CO   98050473223
114817  TRAILER     IN         82      KTY       1KKVE4524CL000147      RS         CO      CO   98050473227
114819  TRAILER     IN         82      KTY       1KKVE4528CL000149      RS         CO      CO   98050473231
114822  TRAILER     IN         82      KTY       1KKVE4528CL000152      RS         CO      CO   98050473237
115182  TRAILER     IN         82      KTY       1KKVE4529CL000306      HV         CO      CO   98050473246
115186  TRAILER     IN         73      KTY                  045186      RS         CO      CO   98050473252
115447  TRAILER     IN         82      KTY       1KKVE4522CL000387      RS         CL      LA   98050473087
115453  TRAILER     IN         82      KTY       1KKVE4522CL000390      RS         CO      CO   98050473097
115457  TRAILER     IN         82      KTY       1KKVE4524CL000391      RS         CL      LA   98050473104
115462  TRAILER     IN         82      KTY       1KKVE4528CL000393      RS         CO      CO   98050473113
115466  TRAILER     IN         82      KTY       1KKVE452XCL000394      RS         CO      CO   98050473123
115467  TRAILER     IN         82      KTY       1KKVE4521CL000395      RS         CO      CO   98050473137
115472  TRAILER     IN         82      KTY       1KKVE4529CL000399      RS         CO      CO   98050473259
115475  TRAILER     IN         82      KTY       1KKVE4523CL000401      RS         CO      CO   98050473264
115477  TRAILER     IN         82      KTY       1KKVE4527CL000403      RS         CO      CO   98050473270
115478  TRAILER     IN         82      KTY       1KKVE4520CL000405      RS         CO      CO   98050473279
115479  TRAILER     IN         82      KTY       1KKVE4522CL000406      RS         CO      CO   98050473282
115482  TRAILER     IN         82      KTY       1KKVE4526CL000408      RS         CL      LA   98050473288
115487  TRAILER     IN         82      KTY       1KKVE4524CL000410      RS         CO      CO   98050473278
115490  TRAILER     IN         82      KTY       1KKVE4528CL000412      RS         CO      CO   98050473286
115496  TRAILER     IN         82      KTY       1KKVE4521CL000414      RS         CL      LA   98050473297
115498  TRAILER     IN         82      KTY       1KKVE4525CL000416      RS         CO      CO   98050473298
115499  TRAILER     IN         82      KTY       1KKVE4527CL000417      RS         CL      LA   98050473303
115500  TRAILER     IN         82      KTY       1KKVE4529CL000418      RS         CL      LA   98050473306
115501  TRAILER     IN         82      KTY       1KKVE4520CL000419      RS         CO      CO   98050473313
115502  TRAILER     IN         82      KTY       1KKVE4527CL000420      RS         CO      CO   98050473764
115503  TRAILER     IN         82      KTY       1KKVE4529CL000421      RS         CL      LA   98050473768
115504  TRAILER     IN         82      KTY       1KKVE4520CL000422      RS         CO      CO   98050473771
115505  TRAILER     IN         82      KTY       1KKVE4522CL000423      RS         CO      CO   98050473774
115510  TRAILER     IN         82      KTY       1KKVE4526CL000425      RS         CO      CO   98050473776
115529  TRAILER     IN         82      KTY       1KKVE452XCL000430      RS         CO      CO   98050473782
115534  TRAILER     IN         82      KTY       1KKVE4521CL000431      RS         CO      CO   98050473852
115536  TRAILER     IN         82      KTY       1KKVE4523CL000432      RS         CL      LA   98050473853
115537  TRAILER     IN         82      KTY       1KKVE4525CL000433      RS         CO      CO   98050473855
115540  TRAILER     IN         82      KTY       1KKVE4520CL000436      RS         CO      CO   98050473856
115542  TRAILER     IN         82      KTY       1KKVE4524CL000438      RS         CO      CO   98050473858
115543  TRAILER     IN         82      KTY       1KKVE4526CL000439      RS         CO      CO   98050473859
115545  TRAILER     IN         82      KTY       1KKVE4524CL000441      RS         CO      CO   98050473861
115547  TRAILER     IN         82      KTY       1KKVE4528CL000443      RS         CL      LA   98050473863
115549  TRAILER     IN         82      KTY       1KKVE4521CL000445      RS         CO      CO   98050473865
115550  TRAILER     IN         82      KTY       1KKVE4523CL000446      RS         CO      CO   98050142082
115552  TRAILER     IN         82      KTY       1KKVE4527CL000448      RS         CO      CO   98050473866
115553  TRAILER     IN         82      KTY       1KKVE2620CL000651      MV         CO      CO   98050473868
115831  TRAILER     IN         73      KTY                   46247      RS         CL      LA   98050473870
115923  TRAILER     IN         82      KTY       1KKVE452XCL001142      RS         CO      CO   98050473871
115926  TRAILER     IN         82      KTY       1KKVE4521CL001143      RS         CO      CO   98050473872
115927  TRAILER     IN         82      KTY       1KKVE4523CL001144      RS         CO      CO   98050473873
115928  TRAILER     IN         82      KTY       1KKVE4525CL001145      RS         CL      LA   98050473874
</TABLE>

<PAGE>

PAGE 42

        LIST OF NORTH AMERICAN VAN LINES TITLED EQUIPMENT AS OF 10/30/99

<TABLE>
<CAPTION>

                   LIC                              SERIAL                                         TITLE
 UNIT    TYPE       ST         YR      MAKE         NUMBER             DIV        SUB      FC     NUMBER
------  -------  --------   --------   ----  ---------------------   --------   --------   ---  -----------
<S>     <C>      <C>        <C>        <C>   <C>                     <C>        <C>        <C>  <C>
115929  TRAILER     IN         82      KTY       1KKVE4529CL001147      RS         CO      CO   98050473875
115934  TRAILER     IN         82      KTY       1KKVE4522CL001152      RS         CO      CO   98050473876
115935  TRAILER     IN         82      KTY       1KKVE4528CL001155      RS         CO      CO   98050473877
115945  TRAILER     IN         82      KTY       1KKVE4521CL001157      RS         CO      CO   98050473878
115950  TRAILER     IN         82      KTY       1KKVE4523CL001158      RS         CO      CO   98050473879
115954  TRAILER     IN         82      KTY       1KKVE4525CL001162      RS         CO      CO   98050473880
115960  TRAILER     IN         82      KTY       1KKVE4529CL001164      RS         CO      CO   98050473881
115963  TRAILER     IN         82      KTY       1KKVE4520CL001165      RS         CO      CO   98050473882
115964  TRAILER     IN         82      KTY       1KKVE4522CL001166      RS         CO      CO   98050473150
115966  TRAILER     IN         82      KTY       1KKVE4524CL001170      RS         CO      CO   98050473158
115967  TRAILER     IN         82      KTY       1KKVE4526CL001171      RS         CO      CO   98050473167
115969  TRAILER     IN         82      KTY       1KKVE452XCL001173      RS         CO      CO   98050473182
115971  TRAILER     IN         82      KTY       1KKVE4523CL001175      RS         CO      CO   98050473200
115972  TRAILER     IN         82      KTY       1KKVE4529CL001178      RS         CO      CO   98050473210
115973  TRAILER     IN         82      KTY       1KKVE4520CL001179      RS         CO      CO   98050473222
115979  TRAILER     IN         82      KTY       1KKVE4520CL001182      RS         CO      CO   98050473232
115980  TRAILER     IN         82      KTY       1KKVE4522CL001183      RS         CO      CO   98050473250
115981  TRAILER     IN         82      KTY       1KKVE4528CL001186      RS         CO      CO   98050473277
115982  TRAILER     IN         82      KTY       1KKVE452XCL001187      RS         CO      CO   98050473295
115985  TRAILER     IN         82      KTY       1KKVE452XCL001190      RS         CO      CO   98050473694
115987  TRAILER     IN         82      KTY       1KKVE4521CL001191      RS         CO      CO   98050473696
115989  TRAILER     IN         82      KTY       1KKVE4529CL001195      RS         CL      LA   98050473698
115992  TRAILER     IN         82      KTY       1KKVE4520CL001196      RS         CL      LA   98050473700
115993  TRAILER     IN         82      KTY       1KKVE4522CL001197      RS         CO      CO   98050473702
115998  TRAILER     IN         82      KTY       1KKVE4527CL001258      RS         CO      CO   98050473703
116130  TRAILER     IN         83      KTY       1KKVR4526DL000091      HV         CO      CO   98050473709
116182  TRAILER     IN         74      KTY                   48439      RS         CO      CO   98050473711
116232  TRAILER     IN         83      KTY       1KKVE2628DL000267      HV         CO      CO   98050473713
116233  TRAILER     IN         83      KTY       1KKVE4528DL000265      HV         CO      CO   98050473714
116234  TRAILER     IN         83      KTY       1KKVE452XDL000266      HV         CL      LA   98050473752
116435  TRAILER     IN         74      KTY                   48508      RS         CO      CO   98050473761
116548  TRAILER     IN         97      STK       1S12E9539VE421284      HV         CO      CO   98050473716
116549  TRAILER     IN         97      STK       1S12E9530VE421285      HV         CO      CO   98050473717
116550  TRAILER     IN         97      STK       1S12E9532VE421286      HV         CO      CO   98050473718
116551  TRAILER     IN         97      STK       1S12E9534VE421287      HV         CO      CO   98050473719
116552  TRAILER     IN         97      STK       1S12E9536VE421288      HV         CO      CO   98050473720
116553  TRAILER     IN         97      STK       1S12E9538VE421289      HV         CO      CO   98050473723
116554  TRAILER     IN         97      STK       1S12E9534VE421290      HV         CO      CO   98050473725
116555  TRAILER     IN         97      STK       1S12E9536VE421291      HV         CO      CO   98050473727
116556  TRAILER     IN         97      STK       1S12E9538VE421292      HV         CO      CO   98050473729
116557  TRAILER     IN         97      STK       1S12E953XVE421293      HV         CO      CO   98050473731
116558  TRAILER     IN         97      STK       1S12E9531VE421294      HV         CO      CO   98050473733
116559  TRAILER     IN         97      STK       1S12E9533VE421295      HV         CO      CO   98050473735
116560  TRAILER     IN         97      STK       1S12E9535VE421296      HV         CO      CO   98050473737
116561  TRAILER     IN         97      STK       1S12E9537VE421297      HV         CO      CO   98050473739
116562  TRAILER     IN         97      STK       1S12E9539VE421298      HV         CO      CO   98050473741
116563  TRAILER     IN         97      STK       1S12E9530VE421299      HV         CO      CO   98050473743
116564  TRAILER     IN         97      STK       1S12E9533VE421300      HV         CO      CO   98050473746
116565  TRAILER     IN         97      STK       1S12E9535VE421301      HV         CO      CO   98050473748
116566  TRAILER     IN         97      STK       1S12E9537VE421302      HV         CO      CO   98050473751

</TABLE>

<PAGE>

PAGE 43

        LIST OF NORTH AMERICAN VAN LINES TITLED EQUIPMENT AS OF 10/30/99

<TABLE>
<CAPTION>
                   LIC                              SERIAL                                         TITLE
 UNIT    TYPE       ST         YR      MAKE         NUMBER             DIV        SUB      FC     NUMBER
------  -------  --------   --------   ----  ---------------------   --------   --------   ---  -----------
<S>     <C>      <C>        <C>        <C>   <C>                     <C>        <C>        <C>  <C>
116569  TRAILER     IN         97      STK       1S12E9539VE421303      HV         CO      CO   98050473754
116570  TRAILER     IN         97      STK       1S12E9530VE421304      HV         CO      CO   98050473757
116571  TRAILER     IN         97      STK       1S12E9532VE421305      HV         CO      CO   98050472806
116572  TRAILER     IN         97      STK       1S12E9534VE421306      HV         CO      CO   98050472837
116573  TRAILER     IN         97      STK       1S12E9536VE421307      HV         CO      CO   98050472858
116574  TRAILER     IN         97      STK       1512E9538VE421308      HV         CO      CO   98050472872
116589  TRAILER     IN         97      KTY       1KKVE5027VL109895      RS         CO      CO   98050472890
116590  TRAILER     IN         97      KTY       1KKVE5029VL109896      RS         CL      LA   98050472904
116591  TRAILER     IN         97      KTY       1KKVE5020VL109897      RS         CO      CO   98050472922
116592  TRAILER     IN         97      KTY       1KKVE5022VL109898      RS         CO      CO   98050472932
116600  TRAILER     IN         97      KTY       1KKVE5027VL110061      RS         CL      LA   98050472947
116602  TRAILER     IN         97      KTY       1KKVE5020VL110063      RS         CO      CO   98050472965
116603  TRAILER     IN         97      KTY       1KKVE5022VL110064      RS         CO      CO   98050472973
116605  TRAILER     IN         97      KTY       1KKVE5026VL110066      RS         CL      LA   98050472994
116606  TRAILER     IN         97      KTY       1KKVE5028VL110067      RS         CO      CO   98050473018
116607  TRAILER     IN         97      KTY       1KKVE502XVL110068      RS         CO      CO   98050473026
116608  TRAILER     IN         97      KTY       1KKVE5021VL110069      RS         CO      CO   98050473037
116609  TRAILER     IN         97      KTY       1KKVE5028VL110070      RS         CO      CO   98050473048
116610  TRAILER     IN         97      KTY       1KKVE502XVL110071      RS         CO      CO   98050473058
116702  TRAILER     IN         97      KTY       1KKVE4825VL110042      RS         CO      CO   98050473134
116703  TRAILER     IN         97      KTY       1KKVE5025VL110043      RS         CO      CO   98050473147
116704  TRAILER     IN         97      KTY       1KKVE5027VL110044      RS         CO      CO   98050473160
116705  TRAILER     IN         97      KTY       1KKVE5029VL110045      RS         CO      CO   98050473175
116706  TRAILER     IN         97      KTY       1KKVE5020VL110046      RS         CO      CO   98050473185
116707  TRAILER     IN         97      KTY       1KKVE5022VL110047      RS         CO      CO   98050473194
116737  TRAILER     IN         97      DOR       1DTV51220VA262220      RS         CL      LA   98050473208
116738  TRAILER     IN         97      DOR       1DTV51222VA262221      RS         CL      LA   98050473218
116739  TRAILER     IN         97      DOR       1DTV51224VA262222      RS         CL      LA   98050473229
116740  TRAILER     IN         97      DOR       1DTV51226VA262223      RS         CL      LA   98050473238
116741  TRAILER     IN         97      DOR       1DTV51228VA262224      RS         CL      LA   98050473256
116752  TRAILER     IN         97      KTY       1KKVE5237VL110048      RS         CO      CO   98050473273
116815  TRAILER     IN         75      KTY                  048554      RS         CO      CO   98050473355
116837  TRAILER     IN         75      KTY                  048576      RS         CO      CO   98050473360
117325  TRAILER     IN         84      KTY       1KKVE4526EL069733      RS         CL      LA   98050473363
117327  TRAILER     IN         84      KTY       1KKVE452XEL069735      RS         CO      CO   98050473367
117329  TRAILER     IN         84      KTY       1KKVE4523EL069737      RS         CO      CO   98050473368
117330  TRAILER     IN         84      KTY       1KKVE4525EL069738      RS         CO      CO   98050473373
117331  TRAILER     IN         84      KTY       1KKVE4527EL069739      RS         CO      CO   98050473375
117332  TRAILER     IN         84      KTY       1KKVE4523EL069740      RS         CL      LA   98050473377
117333  TRAILER     IN         84      KTY       1KKVE4525EL069741      RS         CO      CO   98050473381
117334  TRAILER     IN         84      KTY       1KKVE4527EL069742      RS         CO      CO   98050473385
117335  TRAILER     IN         84      KTY       1KKVE4529EL069743      RS         CO      CO   98050473386
117336  TRAILER     IN         84      KTY       1KKVE4520EL069744      RS         CO      CO   98050473391
117337  TRAILER     IN         84      KTY       1KKVE4522EL069745      RS         CO      CO   98050473473
117338  TRAILER     IN         84      KTY       1KKVE4524EL069746      RS         CO      CO   98050473475
117339  TRAILER     IN         84      KTY       1KKVE4526EL069747      RS         CO      CO   98050473476
117340  TRAILER     IN         84      KTY       1KKVE4528EL069748      RS         CO      CO   98050473478
117341  TRAILER     IN         84      KTY       1KKVE452XEL069749      RS         CO      CO   98050473479
117342  TRAILER     IN         84      KTY       1KKVE4526EL069750      RS         CO      CO   98050473480
117346  TRAILER     IN         84      KTY       1KKVE452XEL069752      RS         CO      CO   98050473483

</TABLE>

<PAGE>

PAGE 44

               LIST OF NORTH AMERICAN VAN LINES TITLED EQUIPMENT AS OF 10/30/99

<TABLE>
<CAPTION>
                        LIC                    SERIAL                                            TITLE
UNIT        TYPE        ST     YR     MAKE     NUMBER                 DIV      SUB      FC       NUMBER
----        ----        ---    --     ----     ------                 ---      ---      --       ------
<S>         <C>         <C>    <C>    <C>      <C>                    <C>      <C>      <C>      <C>

117348      TRAILER     IN     84     KTY      1KKVE4521EL069753      RS       CO       CO       98050473485
117353      TRAILER     IN     84     KTY      1KKVE4525EL069755      RS       CO       CO       84184066086
117354      TRAILER     IN     84     KTY      1KKVE4527EL069756      RS       CO       CO       98050473488
117420      TRAILER     IN     84     KTY      1KKVE4523EL069589      RS       CO       CO       98050473518
117421      TRAILER     IN     84     KTY      1KKVE452XEL069590      RS       CO       CO       98050473520
119275      TRAILER     IN     85     KTY      1KKVE3014FL073161      HV       CO       CO       98050473985
119602      TRAILER     IN     85     KTY      1KKVE482XFL072681      RS       CO       CO       98184617003
119616      TRAILER     IN     85     KTY      1KKVE4526FL074271      HV       CO       CO       98050473986
12A025      TRAILER     IN     82     KTY      1KKVE4822CL001812      HV       CO       CO       98050473521
12A079      TRAILER     IN     82     KTY      1KKVE4824CL001875      HV       CO       CO       98050473525
12A097      TRAILER     IN     82     KTY      1KKVE4823CL001897      HV       CO       CO       98050473528
12A348      TRAILER     IN     83     KTY      1KKVE4826DL000115      HV       CO       AD       98050473529
12F763      TRAILER     IN     86     DOR      10TV11X22GH023228      FD       TR       TG       98050473965
12K416      TRAILER     IN     83     GTD      1GRFC9627DB115337      RS       CO       C0       98050473531
12K424      TRAILER     IN     84     TMO      1PT02AAH1E9004985      FD       TR       TG       98050473533
12K426      TRAILER     IN     84     TMO      1PT02AAHXE9004998      FD       TR       TG       98050473536
12K432      TRAILER     IN     84     TMO      1PT02AAH6E9004996      RS       CO       CO       98050473537
12V146      TRAILER     IN     93     STN      1DW1A5325PS793445      HV       DC       01       98050473540
12V178      TRAILER     IN     93     STN      1DW1A5327PS793477      HV       DC       01       98050473543
12V289      TRAILER     IN     93     STN      1DW1A5325PS793588      HV       DC       01       98050473545
12V501      TRAILER     IN     92     STK      1S12E9536ND349661      HV       DC       01       98050473548
120102      TRAILER     IN     79     KTY                  57570      BH       CO       CO       98050473549
121662      TRAILER     IN     80     KTY                 060285      BH       CO       CO       98050473552
122226      TRAILER     IN     69     KTY                 036923      FS       SL       SI       98050473555
122229      TRAILER     IN     69     KTY                 036926      FS       SL       SI       98050473557
122424      TRAILER     IN     70     KTY                 038209      FS       SL       TP       98050473559
122661      TRAILER     IN     71     KTY                 041458      FS       SL       SI       98050473561
123219      TRAILER     IN     72     KTY                 043119      BH       CO       CO       98050473564
123909      TRAILER     IN     80     KTY                 061869      BH       CO       CO       98050473567
124233      TRAILER     IN     81     KTY      1KKVE452XBL000510      BH       CO       CO       98050473569
124847      TRAILER     IN     82     KTY      1KKVE4529CL000046      HV       CO       CO       98050473572
124990      TRAILER     IN     82     KTY      1KKVE452XCL000251      HV       CO       CO       98050473575
125001      TRAILER     IN     82     KTY      1KKVE4526CL000263      BH       CO       CO       98050473578
125121      TRAILER     IN     82     KTY      1KKVE4529CL001388      BH       CO       CO       98050473581
125415      TRAILER     IN     73     KTY                 045415      RS       CL       LA       98050473583
125803      TRAILER     IN     73     KTY                 046219      RS       CL       LA       98050473586
126320      TRAILER     IN     74     KTY                 048659      RS       CO       CO       98050473589
126520      TRAILER     IN     74     KTY                 048788      RS       CL       LA       98050473591
126742      TRAILER     IN     75     KTY                 048973      RS       CO       CO       98050473394
13K131      TRAILER     IN     87     KTY      1KKVF4822HL079186      RS       CO       CO       98050473601
13K132      TRAILER     IN     87     KTY      1KKVF4824HL079187      RS       CO       CO       98050473603
13K133      TRAILER     IN     87     KTY      1KKVF4826HL079188      RS       AG       LF       98050473605
13K134      TRAILER     IN     87     KTY      1KKVF4828HL079189      RS       CL       LA       98050473610
13K135      TRAILER     IN     87     KTY      1KKVF4824HL079190      RS       CO       CO       98050473611
13K136      TRAILER     IN     87     KTY      1KKVF4826HL079191      RS       CO       CO       98050473614
13K137      TRAILER     IN     87     KTY      1KKVF4828HL079192      RS       CO       CO       98050473616
13K139      TRAILER     IN     87     KTY      1KKVF4821HL079194      RS       CO       CO       98050473619
13K140      TRAILER     IN     87     KTY      1KKVF4823HL079195      RS       CL       LA       98050473622
13K141      TRAILER     IN     87     KTY      1KKVF4825HL079196      RS       CL       LA       98050473623
13K143      TRAILER     IN     87     KTY      1KKVF4829HL079198      RS       CO       CO       98050473626

</TABLE>

<PAGE>

PAGE 45

        LIST OF NORTH AMERICAN VAN LINES TITLED EQUIPMENT AS OF 10/30/99

<TABLE>
<CAPTION>

                   LIC                              SERIAL                                         TITLE
 UNIT    TYPE       ST         YR      MAKE         NUMBER             DIV        SUB      FC     NUMBER
------  -------  --------   --------   ----  ---------------------   --------   --------   ---  -----------
<S>     <C>      <C>        <C>        <C>   <C>                     <C>        <C>        <C>  <C>
13K144  TRAILER     IN         87      KTY       1KKVF4820HL079199      RS         CO      CO   98050473629
13K145  TRAILER     IN         87      KTY       1KKVF4823HL079200      RS         CL      LA   98050473631
13K146  TRAILER     IN         87      KTY       1KKVF4825HL079201      RS         CO      CO   98050473633
13K147  TRAILER     IN         87      KTY       1KKVF4827HL079202      RS         CO      CO   98050473635
13K148  TRAILER     IN         87      KTY       1KKVF4829HL079203      RS         CO      CO   98050473638
13K151  TRAILER     IN         87      KTY       1KKVF4824HL079206      RS         CO      CO   98050473641
13K153  TRAILER     IN         87      KTY       1KKVF4828HL079208      RS         CO      CO   98050473643
13K154  TRAILER     IN         87      KTY       1KKVF482XHL079209      RS         CO      CO   98050473645
13K156  TRAILER     IN         87      KTY       1KKVF4828HL079211      RS         CL      LA   98050473650
13K157  TRAILER     IN         87      KTY       1KKVF482XHL079212      RS         CO      CO   98050473652
13K159  TRAILER     IN         87      KTY       1KKVF4823HL079214      RS         CL      LA   98050473655
13K160  TRAILER     IN         87      KTY       1KKVF4825HL079215      RS         CO      CO   98050473657
13K161  TRAILER     IN         87      KTY       1KKVF4827HL079216      RS         CO      CO   98050473658
13K164  TRAILER     IN         87      KTY       1KKVF4822HL079219      RS         CL      LA   98050473660
13K165  TRAILER     IN         87      KTY       1KKVF4829HL079220      RS         CO      CO   98050473662
13K166  TRAILER     IN         87      KTY       1KKVF4820HL079221      RS         CL      LA   98050473665
13K167  TRAILER     IN         87      KTY       1KKVF4822HL079222      RS         CL      LA   98050473668
13K168  TRAILER     IN         87      KTY       1KKVF4824HL079223      RS         CO      CO   98050473670
13K169  TRAILER     IN         87      KTY       1KKVF4826HL079224      RS         CO      CO   98050473672
13K170  TRAILER     IN         87      KTY       1KKVF4828HL079225      RS         CO      CO   98050473679
13K171  TRAILER     IN         87      KTY       1KKVF482XHL079226      RS         CO      CO   98050473682
13K172  TRAILER     IN         87      KTY       1KKVF4821HL079227      RS         CL      LA   98050473684
13K173  TRAILER     IN         87      KTY       1KKVF4823HL079228      RS         CL      LA   98050473686
13K174  TRAILER     IN         87      KTY       1KKVF4825HL079229      RS         CL      LA   98050473687
13K175  TRAILER     IN         87      KTY       1KKVF4821HL079230      RS         CO      CO   98050473689
13K176  TRAILER     IN         87      KTY       1KKVF4823HL079231      RS         CO      CO   98050473691
13K177  TRAILER     IN         87      KTY       1KKVF4825HL079232      RS         CO      CO   98050473692
13K203  TRAILER     IN         87      KTY       1KKVF4828HL079239      RS         CO      CO   98050472887
13K266  TRAILER     IN         87      KTY       1KKVF4825HL079523      RS         CL      LA   98050473003
13K267  TRAILER     IN         87      KTY       1KKVF4827HL079524      RS         CO      CO   98050473004
13K269  TRAILER     IN         87      KTY       1KKVF4820HL079526      RS         CL      LA   98050473006
13K270  TRAILER     IN         87      KTY       1KKVF4822HL079527      RS         CL      LA   98050473007
13K271  TRAILER     IN         87      KTY       1KKVF4824HL079528      RS         CO      CO   98050473008
13K272  TRAILER     IN         87      KTY       1KKVF4826HL079529      RS         CO      CO   98050473009
13K274  TRAILER     IN         87      KTY       1KKVF4824HL079531      RS         CO      CO   98050473010
13K275  TRAILER     IN         87      KTY       1KKVF4826HL079532      RS         CO      CO   98050473028
13K277  TRAILER     IN         87      KTY       1KKVF482XHL079534      RS         CL      LA   98050473041
13K278  TRAILER     IN         87      KTY       1KKVF4821HL079535      RS         CO      CO   98050473047
13K281  TRAILER     IN         87      KTY       1KKVF4827HL079538      RS         CL      LA   98050473060
13K284  TRAILER     IN         87      KTY       1KKVF4827HL079541      RS         CL      LA   98050473075
13K285  TRAILER     IN         87      KTY       1KKVF4829HL079542      RS         CL      LA   98050473084
13K288  TRAILER     IN         87      KTY       1KKVF4824HL079545      RS         CO      CO   98050473100
13K289  TRAILER     IN         87      KTY       1KKVF4826HL079546      RS         CL      LA   98050473108
13K290  TRAILER     IN         87      KTY       1KKVF4828HL079547      RS         CO      CO   98050473116
13K291  TRAILER     IN         87      KTY       1KKVF482XHL079548      RS         CL      LA   98050473125
13K292  TRAILER     IN         87      KTY       1KKVF4821HL079549      RS         CL      LA   98050473131
13K293  TRAILER     IN         87      KTY       1KKVF4828HL079550      RS         CL      LA   98050473141
13K294  TRAILER     IN         87      KTY       1KKVF482XHL079551      RS         CO      CO   98050473149
13K295  TRAILER     IN         87      KTY       1KKVF4821HL079552      RS         CO      CO   98050473155
13K296  TRAILER     IN         87      KTY       1KKVF4823HL079553      RS         CL      LA   98050473164

</TABLE>

<PAGE>

PAGE 46

        LIST OF NORTH AMERICAN VAN LINES TITLED EQUIPMENT AS OF 10/30/99

<TABLE>
<CAPTION>

                      LIC                    SERIAL                                    TITLE
UNIT      TYPE        ST     YR    MAKE      NUMBER              DIV     SUB     FC    NUMBER
----      ----        ---    --    ----      ------              ---     ---     --    -------
<S>       <C>         <C>    <C>   <C>       <C>                 <C>     <C>     <C>   <C>

13K299    TRAILER     IN     87    KTY       1KKVF4829HL079556   RS      CO      CO    98050473187
13K300    TRAILER     IN     87    KTY       1KKVF4820HL079557   RS      CL      LA    98050473199
13K301    TRAILER     IN     87    KTY       1KKVF4822HL079558   RS      CO      CO    98050473207
13K302    TRAILER     IN     87    KTY       1KKVF4824HL079559   RS      CO      CO    98050473213
13K303    TRAILER     IN     87    KTY       1KKVF4820HL079560   RS      CO      CO    98050473219
13K304    TRAILER     IN     87    KTY       1KKVF4822HL079561   RS      CO      CO    98050473226
13K306    TRAILER     IN     87    KTY       1KKVF4826HL079563   RS      CO      CO    98050473235
13K308    TRAILER     IN     87    KTY       1KKVF482XHL079565   RS      CL      LA    98050473248
13K310    TRAILER     IN     87    KTY       1KKVF4823HL079567   RS      CO      CO    98050473261
13K311    TRAILER     IN     87    KTY       1KKVF4825HL079568   RS      CL      LA    98050473267
13K312    TRAILER     IN     87    KTY       1KKVF4827HL079569   RS      CO      CO    98050473274
13K313    TRAILER     IN     87    KTY       1KKVF4823HL079570   RS      CO      CO    98050473283
13K314    TRAILER     IN     87    KTY       1KKVF4825HL079571   RS      CO      CO    98050473292
13K315    TRAILER     IN     87    KTY       1KKVF4827HL079572   RS      CL      LA    98050473302
130579    TRAILER     IN     79    KTY                  057822   RS      CL      LA    98050473122
130609    TRAILER     IN     79    KTY                  057852   RS      CO      CO    98050473130
130610    TRAILER     IN     79    KTY                  057853   FD      TR      TG    98050473139
131906    TRAILER     IN     68    KTY                  035246   FS      SL      SI    98050473221
131907    TRAILER     IN     68    KTY                  035247   RS      CO      CO    98050473230
131996    TRAILER     IN     68    KTY                  035946   FS      FA      ST    98050473240
132154    TRAILER     IN     69    THE                  N14928   FS      SL      SU    98050473244
135572    TRAILER     IN     73    KTY                  045972   RS      CO      CO    98050473255
135621    TRAILER     IN     73    KTY                  046021   RS      CO      CO    98050473263
136708    TRAILER     IN     97    KTY       1KKVF5035VL110050   RS      CO      CO    98050473266
136709    TRAILER     IN     97    KTY       1KKVF5028VL110051   RS      CO      CO    98050473271
150660    TRAILER     IN     88    GTD       1GRDM9625JM012504   IN      CO      CO    98050473291
150663    TRAILER     IN     88    GTD       1GRDM9629JM012506   IN      CO      CO    98050473299
151939    TRAILER     IN     91    FON       13N348201M1552793   IN      CO      CO    98050473304
155054    TRAILER     IN     95    STK       1S12FF481SB695357   IN      CO      CO    98050473311
155061    TRAILER     IN     95    STK       1S12FF481SB695360   IN      CO      CO    98050473314
156392    TRAILER     IN     97    TCF       1TTF48206V1052474   IN      CO      CO    98050473317
156839    TRAILER     IN     75    KTY                  048578   IN      CO      CO    98050473348
156843    TRAILER     IN     75    KTY                  048582   IN      CO      CO    98050473349
156964    TRAILER     IN     98    TCF       1TTE48200H1056176   IN      CO      CO    98050473322
156965    TRAILER     IN     98    TCF       1TTE48202H1056177   IN      CO      CO    98050473324
157477    TRAILER     IN     98    TCF       1TTE48200H1057375   FB      CO      CO    98184617002
166504    TRAILER     IN     97    KTY       1KKVR4827VL109205   HV      CO      CO    98050473327
166505    TRAILER     IN     97    KTY       1KKVR4829VL109206   HV      CO      CO    98050473331
166506    TRAILER     IN     97    KTY       1KKVR4820VL109207   HV      CO      CO    98050473332
166507    TRAILER     IN     97    KTY       1KKVR4822VL109208   HV      CO      CO    98050473336
167457    TRAILER     IN     98    KTY       1KKVR4820HL112366   HV      CO      CO    98184494030
220716    TRACTOR     IN     85    INT       1HTLDTVN3FHA60944   HV      DC      04    98050473972
221378    TRACTOR     IN     90    INT       1HSHBGFN3LH215331   HV      DC      04    98050473971
221386    TRACTOR     IN     90    INT       1HSHBGFN5LH215329   HV      DC      04    98050473970
221406    TRACTOR     IN     90    INT       1HSHBGFN5LH215332   HV      DC      04    98050473973
221438    TRACTOR     IN     90    INT       1HSHBGFN7LH215333   HV      DC      04    98050473974
221462    TRACTOR     IN     90    INT       1HSHBGFN9LH215334   HV      DC      04    98050473975
221517    TRACTOR     IN     90    INT       1HSHBGFN8LH208231   HV      DC      04    98050473976
221549    TRACTOR     IN     97    INT       1HSSDAAN5VH412170   HV      DC      04    98050473883
222099    TRACTOR     IN     97    FRT       1FUWHLBB2VL704508   HV      DC      04    98050473884

</TABLE>

<PAGE>

PAGE 47

        LIST OF NORTH AMERICAN VAN LINES TITLED EQUIPMENT AS OF 10/30/99

<TABLE>
<CAPTION>

                     LIC                                SERIAL                                          TITLE
 UNIT     TYPE        ST         YR      MAKE           NUMBER              DIV        SUB      FC     NUMBER
------  ---------  --------   --------   ----  ------------------------   --------   --------   ---  -----------
<S>     <C>        <C>        <C>        <C>   <C>                        <C>        <C>        <C>  <C>
222105  TRACTOR       IN         97      FRT          1FUWHLBB4VL704509      HV         DC      04   98050473885
223239  TRACTOR       IN         88      INT          1HSZEGGR2JH538568      HV         DC      10   98050473929
223245  TRACTOR       IN         88      INT          1HSZEGGR2JH538571      HV         DC      10   98050473930
223362  TRACTOR       IN         88      FRT          1FUY2RYB3JH405395      HV         DC      09   98050473933
226247  TRACTOR       IN         89      INT          1HSZDGFN8KH618010      HV         DC      04   98050473977
226255  TRACTOR       IN         89      INT          1HSZDGFNXKH618011      HV         DC      04   98050473978
228387  TRACTOR       CA         85      INT          1HSRBLWN8FHB17089      HV         DC      I1   98050473886
23A021  TRACTOR       IN         90      FRT          1FUYARYB2LH388521      HV         DC      04   98050473887
23A164  TRACTOR       IN         90      FRT          1FUYARYB2LH388664      HV         DC      04   98050473888
23A275  TRACTOR       IN         90      FRT          1FUYARYB0LH388775      HV         DC      04   98050473889
23C024  TRACTOR       IN         92      INT          1HSRKGAR3NH406832      FD         TR      TG   98050473893
23C068  TRACTOR       IN         92      INT          1HSRKGAR5NH434048      HV         DC      04   98050473894
23C085  TRACTOR       IN         92      INT          1HSRKGAR5NH434065      HV         DC      04   98050473895
23C108  TRACTOR       IN         92      INT          1HSRKGAR6NH434088      HV         DC      04   98050473896
23C177  TRACTOR       IN         92      INT          1HSRKGAR7NH447996      HV         DC      04   98050473897
23C257  TRACTOR       IN         92      FRT          1FUYABYBXNH479093      HV         DC      09   98050473898
23C280  TRACTOR       IN         92      FRT          1FUYABYB7NH479116      HV         DC      04   98050473899
23E007  TRACTOR       IN         93      INT          1HSRKGAR7PH472397      FD         TR      TG   98050473900
23E040  TRACTOR       IN         93      INT          1HSRKGAR1PH472430      FD         TR      TG   98050473901
23E155  TRACTOR       IN         93      INT          1HSRKGAR7PH472545      HV         DC      04   98050473903
23E184  TRACTOR       IN         93      INT          1HSRKCAR9PH510334      FD         TR      TG   98050473904
23E191  TRACTOR       IN         93      INT          1HSRKCAR6PH510341      FD         TR      TG   98050473905
23E193  TRACTOR       IN         93      INT          1HSRKCARXPH510343      FD         TR      TG   98050493906
23E194  TRACTOR       IN         93      INT          1HSRKCAR1PH510344      FD         TR      TG   98050473907
23E203  TRACTOR       IN         93      INT          1HSRKCAR2PH510353      FD         TR      TG   98050473908
230226  TRACTOR       IN         87      FRT          1FUYZBYB8HH402168      FS         SL      SI   98050473911
230239  TRACTOR       IN         91      INT          1HSRKLRR0MH389760      FD         TR      TG   98050473912
230292  TRACTOR       IN         91      INT          1HSRKLRR4MH389762      FD         TR      TG   98050473913
230426  TRACTOR       IN         87      FRT          1FUYZBYB9HH404964      HV         DC      10   98050473914
231092  TRACTOR       IN         95      FRT          1FUYDCYB7SH541591      BH         OO      RM   98184617005
231580  TRACTOR       IN         92      INT          1HSRKLRR3NH449953      FD         TR      TG   98050473916
231670  TRACTOR       IN         92      INT          1HSRKLRR8NH449995      FD         TR      TG   98050473918
231713  TRACTOR       IN         92      INT          1HSRKRGR7NH450013      HV         DC      04   98050473920
231747  TRACTOR       IN         92      INT          1HSRKRGR6NH450021      HV         DC      09   98050473921
232806  TRACTOR       IN         93      INT          2HSFHHAR9PC070458      FD         TR      TG   98050473939
233038  TRACTOR       IN         88      INT          1HSRDG2R9JH602521      FS         FA      01   98050473924
233233  TRACTOR       IN         88      INT          1HSZEGGR5JH535549      HV         DC      04   98050473925
233237  TRACTOR       IN         88      INT          1HSZEGGR5JH535552      RS         AG      LF   98050473927
233238  TRACTOR       IN         88      INT          1HSZEGGR7JH535553      RS         AG      LF   98050473928
233290  TRACTOR       IN         87      FRT          1FUYZBYB8HH402140      RS         AG      LF   98050473931
233296  TRACTOR       IN         87      FRT          1FUYZBYB5HH402144      RS         AG      LF   98050473932
234037  TRACTOR       IN         95      WGC          4V1HDBRH1SN694031      FD         TR      TG   98050473934
237998  TRACTOR       CA         85      INT          1HSRDJSR1FHB16700      HV         DC      I1   98050473956
320523  ST. TRUCK     IN         91      FOR          1FDXH81A7MVA33045      HV         DC      04   98050473980
320524  ST. TRUCK     IN         91      FOR          1FDXH81A9MVA33046      HV         DC      04   98050473981
321227  ST. TRUCK     IN         88      PBT          9DHHT7H34JC001852      FD         TR      TG   98050473828
321255  ST. TRUCK     IN         97      INT          1HTSDAAN2VH412171      HV         DC      04   98050473830
321256  ST. TRUCK     IN         97      INT          1HTSDAAN7VH437101      RS         AG      SF   98050473832
321257  ST. TRUCK     NY         97      INT          1HTSDAAN9VH437102      RS         AG      SF   98050473833
321259  ST. TRUCK     UT         97      INT          1HTSDAAN2VH437104      RS         AG      SF   98050473835
</TABLE>

<PAGE>

PAGE 48

LIST OF NORTH AMERICAN VAN LINES TITLED EQUIPMENT AS OF 10/30/99

<TABLE>
<CAPTION>
                     LIC                     SERIAL                              TITLE
 UNIT      TYPE      ST    YR    MAKE        NUMBER         DIV   SUB   FC      NUMBER
 ----      ----      ---   --    ----        ------         ---   ---   --      ------
<C>      <S>         <C>   <C>   <C>    <C>                 <C>   <C>   <C>   <C>
321263   ST.TRUCK    IN     97   INT    1HTSDAANXVH437108   RS    AG    SF    98050473838
321316   ST.TRUCK    IN     97   INT    1HTSDAAN5VH442054   RS    AG    SF    98050473840
321367   ST.TRUCK    IN     85   GMC    1GDG6D1F3FV508896   FS    FA    01    98050473842
328369   ST.TRUCK    IN     85   INT    1HTLDUXN6FHA31005   HV    DC    04    98050473982
328500   ST.TRUCK    CA     85   INT    1HTLOUGNXFHA63326   HV    DC    02    98050473843
500002   DOLLY       IN     93   STK    1S11CD106PB676169   HV    DC    04    98050473790
500003   DOLLY       CA     93   STK    1S11CD102PB676170   HV    DC    02    98050473792
500007   DOLLY       IN     93   FRU    1H2E00013PB013801   HV    DC    09    98050473794
500008   DOLLY       IN     93   FRU    1H2E00015PB013802   HV    DC    09    98050473795
500012   DOLLY       IN     95   STK    1S11CD109SB705091   HV    CO    CO    98050473796
500013   DOLLY       IN     95   STK    1S11CD100SB705092   HV    CO    CO    98050473797
500014   DOLLY       IN     95   STK    1S11CD102SB705093   HV    CO    CO    98050473799
500015   DOLLY       IN     95   STK    1S11CD104SB705094   HV    CO    CO    98050473800
500016   DOLLY       IN     95   STK    1S11CD106SB705095   HV    CO    CO    98050473802
500017   DOLLY       IN     95   STK    1S11CD108SB705096   HV    CO    CO    98050473803
500018   DOLLY       IN     95   STK    1S11CD10XSB705097   HV    CO    CO    98050473805
500019   DOLLY       IN     95   STK    1S11CD101SB705098   HV    CO    CO    98050473807
500020   DOLLY       IN     95   STK    1S11CD103SB705099   HV    CO    CO    98050473809
500021   DOLLY       IN     95   STK    1S11CD106SB705100   HV    CO    CO    98050473811
500022   DOLLY       IN     95   STK    1S11CD108SB705101   HV    CO    CO    98050473813
500023   DOLLY       IN     95   STK    1S11CD10XSB705102   HV    CO    CO    98050473814
500024   DOLLY       IN     95   STK    1S11CD101SB705103   HV    CO    CO    98050473816
610001   TRAILER     IN     94   STN    1DW1A4829RS835900   BW    CO    CO    98050473338
610002   TRAILER     IN     94   STN    1DW1A4820RS835901   BW    CO    CO    98050473339
610003   TRAILER     IN     94   STN    1DW1A4822RS835902   BW    CO    CO    98050473340
610004   TRAILER     IN     94   STN    1DW1A4824RS835903   BW    CO    CO    98050473341
610005   TRAILER     IN     94   STN    1DW1A4826RS835904   BW    CO    CO    98050473342
610006   TRAILER     IN     94   STN    1DW1A4828RS835905   BW    CO    CO    98050473343
610007   TRAILER     IN     94   STN    1DW1A482XRS835906   BW    CO    CO    98050473344
610008   TRAILER     IN     94   STN    1DW1A4821RS835907   BW    CO    CO    98050473345
610009   TRAILER     IN     94   STN    1DW1A4823RS835908   BW    CO    CO    98050473346
610010   TRAILER     IN     94   STN    1DW1A4825RS835909   BW    CO    CO    98050473347
610011   TRAILER     IN     94   STN    1DW1A4821RS835910   BW    CO    CO    98050473068
610012   TRAILER     IN     94   STN    1DW1A4823RS835911   BW    CO    CO    98050473078
610013   TRAILER     IN     94   STN    1DW1A4825RS835912   BW    CO    CO    98050473085
610014   TRAILER     IN     94   STN    1DW1A4827RS835913   BW    CO    CO    98050473094
610015   TRAILER     IN     94   STN    1DW1A4829RS835914   BW    CO    CO    98050473102
610016   TRAILER     IN     94   STN    1DW1A4820RS835915   BW    CO    CO    98050473109
610017   TRAILER     IN     94   STN    1DW1A4822RS835916   BW    CO    CO    98050473117
610018   TRAILER     IN     94   STN    1DW1A4824RS835917   BW    CO    CO    98050473127
610019   TRAILER     IN     94   STN    1DW1A4826RS835918   BW    CO    CO    98050473132
610020   TRAILER     IN     94   STN    1DW1A4828RS835919   BW    CO    CO    98050473966
610021   TRAILER     IN     94   STN    1DW1A4824RS835920   BW    CO    CO    98050473140
610022   TRAILER     IN     94   STN    1DW1A4826RS835921   BW    CO    CO    98050473145
610023   TRAILER     IN     94   STN    1DW1A4828RS835922   BW    CO    CO    98050473157
610024   TRAILER     IN     94   STN    1DW1A482XRS835923   BW    CO    CO    98050473169
610025   TRAILER     IN     94   STN    1DW1A4821RS835924   BW    CO    CO    98050473178
610026   TRAILER     IN     94   STN    1DW1A4823RS835925   BW    CO    CO    98050473188
610027   TRAILER     IN     94   STN    1DW1A4825RS835926   BW    CO    CO    98050473195
610028   TRAILER     IN     94   STN    1DW1A4827RS835927   BW    CO    CO    98050473204
</TABLE>

<PAGE>

PAGE        49

LIST OF NORTH AMERICAN VAN LINES TITLED EQUIPMENT AS OF 10/30/99

<TABLE>
<CAPTION>
                             LIC                            SERIAL                                                    TITLE
UNIT          TYPE           ST        YR        MAKE       NUMBER                   DIV        SUB        FC         NUMBER
----          ----           ---       --        ----       ------                   ---        ---        --         ------
<S>           <C>            <C>       <C>       <C>        <C>                      <C>        <C>        <C>        <C>
610029        TRAILER        IN        94        STN        1DW1A4829RS835928        BW         CO         CO         98050473214
610030        TRAILER        IN        94        STN        1DW1A4820RS835929        BW         CO         CO         98050473220
610031        TRAILER        IN        94        STN        1DW1A4827RS835930        BW         CO         CO         98050473228
610032        TRAILER        IN        94        STN        1DW1A4829RS835931        BW         CO         CO         98050473236
610033        TRAILER        IN        94        STN        1DW1A4829RS835932        BW         CO         CO         98050473243
610034        TRAILER        IN        93        STK        1S12E9483PE359736        BW         CO         CO         98050473249
610035        TRAILER        IN        93        STK        1S12E9485PE359737        BW         CO         CO         98050473257
610036        TRAILER        IN        93        STK        1S12E9487PE359738        BW         CO         CO         98050473262
610037        TRAILER        IN        93        STK        1S12E9489PE359739        BW         CO         CO         98050473268
610038        TRAILER        IN        93        STK        1S12E9485PE359740        BW         CO         CO         98050473275
610039        TRAILER        IN        93        STK        1S12E9487PE359741        BW         CO         CO         98050473284
610040        TRAILER        IN        93        STK        1S12E9489PE359742        BW         CO         CO         98050473290
610041        TRAILER        IN        93        STK        1S12E9480PE359743        BW         CO         CO         98050473296
610042        TRAILER        IN        93        STK        1S12E9482PE359744        BW         CO         CO         98050473305
610043        TRAILER        IN        93        STK        1S12E9484PE359745        BW         CO         CO         98050473316
610044        TRAILER        IN        93        STK        1S12E9486PE359746        BW         CO         CO         98050473320
610045        TRAILER        IN        93        STK        1S12E9488PE359747        BW         CO         CO         98050473326
610046        TRAILER        IN        93        STK        1S12E948XPE359748        BW         CO         CO         98050473329
610047        TRAILER        IN        93        STK        1S12E9481PE359749        BW         CO         CO         98050473334
610048        TRAILER        IN        93        STK        1S12E9488PE359750        BW         CO         CO         98050473325
610049        TRAILER        IN        93        STK        1S12E948XPE359751        BW         CO         CO         98050473253
610050        TRAILER        IN        93        STK        1S12E9481PE359752        BW         CO         CO         98050473258
610051        TRAILER        IN        93        STK        1S12E9483PE359753        BW         CO         CO         98050473265
610052        TRAILER        IN        93        STK        1S12E9485PE359754        BW         CO         CO         98050473328
610053        TRAILER        IN        93        STK        1S12E9487PE359755        BW         CO         CO         98050473321
610054        TRAILER        IN        93        STK        1S12E9489PE359756        BW         CO         CO         98050473318
610055        TRAILER        IN        93        STK        1S12E9480PE359757        BW         CO         CO         98050473315
610056        TRAILER        IN        93        STK        1S12E9482PE359758        BW         CO         CO         98050473310
610057        TRAILER        IN        93        STK        1S12E9484PE359759        BW         CO         CO         98050473300
610058        TRAILER        IN        93        STK        1S12E9480PE359760        BW         CO         CO         98050473294
610059        TRAILER        IN        93        STK        1S12E9482PE359761        BW         CO         CO         98050473289
610060        TRAILER        IN        93        STK        1S12E9484PE359762        BW         CO         CO         98050473281
610061        TRAILER        IN        93        STK        1S12E9486PE359763        BW         CO         CO         98050473272
610062        TRAILER        IN        93        STK        1S12E9488PE359764        BW         CO         CO         98050473512
610063        TRAILER        IN        93        STK        1S12E948XPE359765        BW         CO         CO         98050473516
610064        TRAILER        IN        93        STK        1S12E9481PE359766        BW         CO         CO         98050473519
610065        TRAILER        IN        93        STK        1S12E9483PE359767        BW         CO         CO         98050473522
610066        TRAILER        IN        93        STK        1S12E9485PE359768        BW         CO         CO         98050473527
610067        TRAILER        IN        93        STK        1S12E9487PE359769        BW         CO         CO         98050473534
610068        TRAILER        IN        93        STK        1S12E9483PE359770        BW         CO         CO         98050473538
610069        TRAILER        IN        93        STK        1S12E9485PE359771        BW         CO         CO         98050473542
610070        TRAILER        IN        93        STK        1S12E9487PE359772        BW         CO         CO         98050473546
610071        TRAILER        IN        93        STK        1S12E9489PE359773        BW         CO         CO         98050473551
610072        TRAILER        IN        93        STK        1S12E9480PE359774        BW         CO         CO         98050473562
610073        TRAILER        IN        93        STK        1S12E9482PE359775        BW         CO         CO         98050473565
610074        TRAILER        IN        93        STK        1S12E9484PE359776        BW         CO         CO         98050473570
610075        TRAILER        IN        93        STK        1S12E9486PE359777        BW         CO         CO         98050473573
610076        TRAILER        IN        93        STK        1S12E9488PE359778        BW         CO         CO         98050473576
610077        TRAILER        IN        93        STK        1S12E948XPE359779        BW         CO         CO         98050473580
610078        TRAILER        IN        93        STK        1S12E9486PE359780        BW         CO         CO         98050473585

</TABLE>

<PAGE>

PAGE 50

LIST OF NORTH AMERICAN VAN LINES TITLED EQUIPMENT AS OF 10/30/99

<TABLE>
<CAPTION>
                             LIC                            SERIAL                                                    TITLE
UNIT          TYPE           ST        YR        MAKE       NUMBER                   DIV        SUB        FC         NUMBER
----          ----           ---       --        ----       ------                   ---        ---        --         ------
<S>           <C>            <C>       <C>       <C>        <C>                      <C>        <C>        <C>        <C>

610079        TRAILER        IN        93        STK        1S12E9488PE359781        BW         CO         CO         98050473588
610080        TRAILER        IN        93        STK        1S12E948XPE359782        BW         CO         CO         98050473592
610081        TRAILER        IN        93        STK        1S12E9481PE359783        BW         CO         CO         98050473595
610082        TRAILER        IN        93        STK        1S12E9483PE359784        BW         CO         CO         98050473598
610083        TRAILER        IN        93        STK        1S12E9485PE359785        BW         CO         CO         98050473600
610196        TRAILER        IN        85        KTY        1KKVE4827FL074128        BW         CO         CO         98050473491
610198        TRAILER        IN        85        KTY        1KKVE4825FL072832        BW         CO         CO         98050473495
610199        TRAILER        IN        86        KTY        1KKVE4823GL075343        BW         CO         CO         98050473499
610201        TRAILER        IN        86        KTY        1KKVE4822GL075222        BW         CO         CO         98050473501
610202        TRAILER        IN        86        KTY        1KKVE4825GL075134        BW         CO         CO         98050473504
610203        TRAILER        IN        86        KTY        1KKVE4824GL075058        BW         CO         CO         98050473509
610204        TRAILER        IN        85        KTY        1KKVE4822FL074151        BW         CO         CO         98050473506
610205        TRAILER        IN        96        STN        1DW1A4825TS038101        BW         CO         CO         98050473606
610206        TRAILER        IN        96        STN        1DW1A4827TS038102        BW         CO         CO         98050473609
610207        TRAILER        IN        96        STN        1DW1A4829TS038103        BW         CO         CO         98050473613
610208        TRAILER        IN        96        STN        1DW1A4820TS038104        BW         CO         CO         98050673617
610209        TRAILER        IN        96        STN        1DW1A4822TS038105        BW         CO         CO         98050473620
610210        TRAILER        IN        96        STN        1DW1A4824TS038106        BW         CO         CO         98050473624
610211        TRAILER        IN        96        STN        1DW1A4826TS038107        BW         CO         CO         98050473628
610212        TRAILER        IN        96        STN        1DW1A4828TS038108        BW         CO         CO         98050473632
610213        TRAILER        IN        96        STN        1DW1A482XTS038109        BW         CO         CO         98050473636
610214        TRAILER        IN        96        STN        1DW1A4826TS038110        BW         CO         CO         98050473640
610215        TRAILER        IN        96        STN        1DW1A4828TS038111        BW         CO         CO         98050473644
610216        TRAILER        IN        96        STN        1DW1A482XTS038112        BW         CO         CO         98050473648
610217        TRAILER        IN        96        STN        1DW1A4821TS038113        BW         CO         CO         98050473649
610218        TRAILER        IN        96        STN        1DW1A4823TS038114        BW         CO         CO         98050473653
610219        TRAILER        IN        96        STN        1DW1A4825TS038115        BW         CO         CO         98050473663
610220        TRAILER        IN        96        STN        1DW1A4827TS038116        BW         CO         CO         98050473667
610221        TRAILER        IN        96        STN        1DW1A4829TS038117        BW         CO         CO         98050473671
610222        TRAILER        IN        96        STN        1DW1A4820TS038118        BW         CO         CO         98050473674
610223        TRAILER        IN        96        STN        1DW1A4822TS038119        BW         CO         CO         98050473678
610224        TRAILER        IN        96        STN        1DW1A4829TS038120        BW         CO         CO         98050473681
670084        TRAILER        IN        93        STK        1S12E9533PE359402        BW         CO         CO         98050473354
670085        TRAILER        IN        93        STK        1S12E9535PE359403        BW         CO         CO         98050473359
670086        TRAILER        IN        93        STK        1S12E9537PE359404        BW         CO         CO         98050473362
670087        TRAILER        IN        93        STK        1S12E9539PE359405        BW         CO         CO         98050473366
670088        TRAILER        IN        93        STK        1S12E9530PE359406        BW         CO         CO         98050473369
670089        TRAILER        IN        93        STK        1S12E9532PE359407        BW         CO         CO         98050473374
670090        TRAILER        IN        93        STK        1S12E9534PE359408        BW         CO         CO         98050473379
670091        TRAILER        IN        93        STK        1S12E9536PE359409        BW         CO         CO         98050473384
670092        TRAILER        IN        93        STK        1S12E9532PE359410        BW         CO         CO         98050473389
670093        TRAILER        IN        93        STK        1S12E9534PE359411        BW         CO         CO         98050473358
670094        TRAILER        IN        93        STK        1S12E9536PE359412        BW         CO         CO         98050473364
670095        TRAILER        IN        93        STK        1S12E9538PE359413        BW         CO         CO         98050473371
670096        TRAILER        IN        93        STK        1S12E953XPE359414        BW         CO         CO         98050473380
670097        TRAILER        IN        93        STK        1S12E9531PE359415        BW         CO         CO         98050473390
670098        TRAILER        IN        93        STK        1S12E9533PE359416        BW         CO         CO         98050473395
670099        TRAILER        IN        93        STK        1S12E9535PE359417        BW         CO         CO         98050473721
670100        TRAILER        IN        93        STK        1S12E9537PE359418        BW         CO         CO         98050473722
670101        TRAILER        IN        93        STK        1S12E9539PE359419        BW         CO         CO         98050473724

</TABLE>

<PAGE>

PAGE        51

LIST OF NORTH AMERICAN VAN LINES TITLED EQUIPMENT AS OF 10/30/99

<TABLE>
<CAPTION>
                             LIC                            SERIAL                                                    TITLE
UNIT          TYPE           ST        YR        MAKE       NUMBER                   DIV        SUB        FC         NUMBER
----          ----           ---       --        ----       ------                   ---        ---        --         ------
<S>           <C>            <C>       <C>       <C>        <C>                      <C>        <C>        <C>        <C>
670102        TRAILER        IN        93        STK        1S12E9535PE359420        BW         CO         CO         98050473726
670103        TRAILER        IN        93        STK        1S12E9537PE359421        BW         CO         CO         98050473728
670104        TRAILER        IN        93        STK        1S12E9539PE359422        BW         CO         CO         98050473730
670105        TRAILER        IN        93        STK        1S12E9530PE359423        BW         CO         CO         98050473732
670106        TRAILER        IN        93        STK        1S12E9532PE359424        BW         CO         CO         98050473734
670107        TRAILER        IN        93        STK        1S12E9534PE359425        BW         CO         CO         98050473736
670108        TRAILER        IN        93        STK        1S12E9536PE359426        BW         CO         CO         98050473738
670109        TRAILER        IN        93        STK        1S12E9538PE359427        BW         CO         CO         98050473740
670110        TRAILER        IN        93        STK        1S12E953XPE359428        BW         CO         CO         98050473742
670111        TRAILER        IN        93        STK        1S12E9531PE359429        BW         CO         CO         98050473744
670112        TRAILER        IN        93        STK        1S12E9538PE359430        BW         CO         CO         98050473745
670113        TRAILER        IN        93        STK        1S12E953XPE359431        BW         CO         CO         98050473435
670114        TRAILER        IN        93        STK        1S12E9531PE359432        BW         CO         CO         98050473436
670115        TRAILER        IN        93        STK        1S12E9533PE359433        BW         CO         CO         98050473438
670116        TRAILER        IN        93        STK        1S12E9535PE359434        BW         CO         CO         98050473440
670117        TRAILER        IN        93        STK        1S12E9537PE359435        BW         CO         CO         98050473441
670118        TRAILER        IN        93        STK        1S12E9539PE359436        BW         CO         CO         98050473443
670119        TRAILER        IN        93        STK        1S12E9530PE359437        BW         CO         CO         98050473445
670120        TRAILER        IN        93        STK        1S12E9532PE359438        BW         CO         CO         98050473447
670121        TRAILER        IN        93        STK        1S12E9534PE359439        BW         CO         CO         98050473449
670122        TRAILER        IN        93        STK        1S12E9530PE359440        BW         CO         CO         98050473451
670123        TRAILER        IN        93        STK        1S12E9532PE359441        BW         CO         CO         98050473453
670124        TRAILER        IN        93        STK        1S12E9534PE359442        BW         CO         CO         98050473455
670125        TRAILER        IN        93        STK        1S12E9536PE359443        BW         CO         CO         98050473456
670126        TRAILER        IN        93        STK        1S12E9538PE359444        BW         CO         CO         98050473458
670127        TRAILER        IN        93        STK        1S12E953XPE359445        BW         CO         CO         98050473460
670128        TRAILER        IN        93        STK        1S12E9531PE359446        BW         CO         CO         98050473462
670129        TRAILER        IN        93        STK        1S12E9533PE359447        BW         CO         CO         98050473464
670130        TRAILER        IN        93        STK        1S12E9535PE359448        BW         CO         CO         98050473466
670131        TRAILER        IN        93        STK        1S12E9537PE359449        BW         CO         CO         98050473467
670132        TRAILER        IN        93        STK        1S12E9533PE359450        BW         CO         CO         98050473469
670133        TRAILER        IN        93        STK        1S12E9535PE359451        BW         CO         CO         98050473471
670134        TRAILER        IN        93        STK        1S12E9537PE359452        BW         CO         CO         98050473357
670135        TRAILER        IN        93        STK        1S12E9539PE359453        BW         CO         CO         98050473361
670136        TRAILER        IN        93        STK        1S12E9530PE359454        BW         CO         CO         98050473365
670137        TRAILER        IN        93        STK        1S12E9532PE359455        BW         CO         CO         98050473370
670138        TRAILER        IN        93        STK        1S12E9534PE359456        BW         CO         CO         98050473376
670139        TRAILER        IN        93        STK        1S12E9536PE359457        BW         CO         CO         98050473382
670140        TRAILER        IN        93        STK        1S12E9538PE359458        BW         CO         CO         98050473388
670141        TRAILER        IN        93        STK        1S12E953XPE359459        BW         CO         CO         98050473393
670142        TRAILER        IN        93        STK        1S12E9536PE359460        BW         CO         CO         98050473399
670143        TRAILER        IN        93        STK        1S12E9538PE359461        BW         CO         CO         98050473829
670144        TRAILER        IN        93        STK        1S12E953XPE359462        BW         CO         CO         98050473831
670145        TRAILER        IN        93        STK        1S12E9531PE359463        BW         CO         CO         98050473834
670146        TRAILER        IN        93        STK        1S12E9533PE359464        BW         CO         CO         98050473836
670147        TRAILER        IN        93        STK        1S12E9535PE359465        BW         CO         CO         98050473839
670148        TRAILER        IN        93        STK        1S12E9537PE359466        BW         CO         CO         98050473844
670149        TRAILER        IN        93        STK        1S12E9539PE359467        BW         CO         CO         98050473847
670150        TRAILER        IN        93        STK        1S12E9530PE359468        BW         CO         CO         98050473849
670151        TRAILER        IN        93        STK        1S12E9532PE359469        BW         CO         CO         98050473851
</TABLE>

<PAGE>
PAGE 52

LIST OF NORTH AMERICAN VAN LINES TITLED EQUIPMENT AS OF 10/30/99

<TABLE>
<CAPTION>
                     LIC                     SERIAL                              TITLE
 UNIT      TYPE      ST    YR    MAKE        NUMBER         DIV   SUB   FC      NUMBER
 ----      ----      ---   --    ----        ------         ---   ---   --      ------
<C>      <S>         <C>   <C>   <C>    <C>                 <C>   <C>   <C>   <C>
670152   TRAILER     IN     93   STK    1S12E9539PE359470   BW    CO    CO    98050473854
670153   TRAILER     IN     93   STK    1S12E9530PE359471   BW    CO    CO    98050473857
670154   TRAILER     IN     93   STK    1S12E9532PE359472   BW    CO    CO    98050473860
670155   TRAILER     IN     93   STK    1S12E9534PE359473   BW    CO    CO    98050473862
670156   TRAILER     IN     93   STK    1S12E9536PE359474   BW    CO    CO    98050473864
670157   TRAILER     IN     93   STK    1S12E9538PE359475   BW    CO    CO    98050473867
670158   TRAILER     IN     93   STK    1S12E953XPE359476   BW    CO    CO    98050473869
670225   TRAILER     IN     96   STN    1DW1A5321TS034401   BW    CO    CO    98050473760
670226   TRAILER     IN     96   STN    1DW1A5323TS034402   BW    CO    CO    98050473763
670227   TRAILER     IN     96   STN    1DW1A5325TS034403   BW    CO    CO    98050473766
670228   TRAILER     IN     96   STN    1DW1A5327TS034404   BW    CO    CO    98050473770
670229   TRAILER     IN     96   STN    1DW1A5329TS034405   BW    CO    CO    98050473773
670230   TRAILER     IN     96   STN    1DW1A5320TS034406   BW    CO    CO    98050473777
670231   TRAILER     IN     97   KTY    1KKVA5321VL108877   BW    CO    CO    98050473781
670232   TRAILER     IN     97   KTY    1KKVA5323VL108878   BW    CO    CO    98050473784
670233   TRAILER     IN     97   KTY    1KKVA5325VL108879   BW    CO    CO    98050473787
670234   TRAILER     IN     97   KTY    1KKVA5321VL108880   BW    CO    CO    98050473789
670235   TRAILER     IN     97   KTY    1KKVA5323VL108881   BW    CO    CO    98050473791
670236   TRAILER     IN     97   KTY    1KKVA5325VL108882   BW    CO    CO    98050473793
670237   TRAILER     IN     97   KTY    1KKVA5327VL108883   BW    CO    CO    98050473798
670238   TRAILER     IN     97   KTY    1KKVA5329VL108884   BW    CO    CO    98050473801
670239   TRAILER     IN     97   KTY    1KKVA5320VL108885   BW    CO    CO    98050473804
670240   TRAILER     IN     97   KTY    1KKVA5322VL108886   BW    CO    CO    98050473806
670241   TRAILER     IN     97   KTY    1KKVA5324VL108887   BW    CO    CO    98050473808
670242   TRAILER     IN     97   KTY    1KKVA5326VL108888   BW    CO    CO    98050473810
670243   TRAILER     IN     97   KTY    1KKVA5328VL108889   BW    CO    CO    98050473812
670244   TRAILER     IN     97   KTY    1KKVA5324VL108890   BW    CO    CO    98050473815
670245   TRAILER     IN     97   KTY    1KKVA5326VL108891   BW    CO    CO    98050473819
670246   TRAILER     IN     97   KTY    1KKVA5328VL108892   BW    CO    CO    98050473821
670247   TRAILER     IN     97   KTY    1KKVA532XVL108893   BW    CO    CO    98050473822
670248   TRAILER     IN     97   KTY    1KKVA5321VL108894   BW    CO    CO    98050473823
670249   TRAILER     IN     97   KTY    1KKVA5323VL108895   BW    CO    CO    98050473826
670250   TRAILER     IN     97   KTY    1KKVA5325VL108896   BW    CO    CO    98050473372
670251   TRAILER     IN     97   KTY    1KKVA5327VL108897   BW    CO    CO    98050473378
670252   TRAILER     IN     97   KTY    1KKVA5329VL108898   BW    CO    CO    98050473383
670253   TRAILER     IN     97   KTY    1KKVA5320VL108899   BW    CO    CO    98050473387
670254   TRAILER     IN     97   KTY    1KKVA5323VL108900   BW    CO    CO    98050473392
670255   TRAILER     IN     97   KTY    1KKVA5325VL108901   BW    CO    CO    98050473397
670256   TRAILER     IN     97   KTY    1KKVA5327VL108902   BW    CO    CO    98050473401
670257   TRAILER     IN     97   KTY    1KKVA5329VL108903   BW    CO    CO    98050473404
670258   TRAILER     IN     97   KTY    1KKVA5320VL108904   BW    CO    CO    98050473406
670259   TRAILER     IN     97   KTY    1KKVA5322VL108905   BW    CO    CO    98050475408
670260   TRAILER     IN     97   KTY    1KKVA5324VL108906   BW    CO    CO    98050473409
670261   TRAILER     IN     97   KTY    1KKVA5326VL108907   BW    CO    CO    98050473410
670262   TRAILER     IN     97   KTY    1KKVA5328VL108908   BW    CO    CO    98050473411
670263   TRAILER     IN     97   KTY    1KKVA532XVL108909   BW    CO    CO    98050473412
670264   TRAILER     IN     97   KTY    1KKVA5326VL108910   BW    CO    CO    98050473413
670265   TRAILER     IN     97   KTY    1KKVA5328VL108911   BW    CO    CO    98050473414
670266   TRAILER     IN     97   STK    1S12E9537VE422028   BW    CO    CO    98050473415
670267   TRAILER     IN     97   STK    1S12E9539VE422029   BW    CO    CO    98050473416
</TABLE>

<PAGE>

PAGE 53

LIST OF NORTH AMERICAN VAN LINES TITLED EQUIPMENT AS OF 10/30/99

<TABLE>
<CAPTION>
                   LIC               SERIAL                               TITLE
 UNIT     TYPE     ST    YR    MAKE  NUMBER              DIV   SUB  FC    NUMBER
 ----     ----     --    --    ----  ------              ---   ---  --    ------
<S>      <C>       <C>   <C>   <C>   <C>                 <C>   <C>  <C>   <C>
670268   TRAILER   IN    97    STK   1S12E9535VE422030   BW    CO   CO    98050473417
670269   TRAILER   IN    97    STK   1S12E9537VE422031   BW    CO   CO    98050473418
670270   TRAILER   IN    97    STK   1S12E9539VE422032   BW    CO   CO    98050473419
670271   TRAILER   IN    97    STK   1S12E9530VE422033   BW    CO   CO    98050473420
670272   TRAILER   IN    97    STK   1S12E9532VE422034   BW    CO   CO    98050473421
670273   TRAILER   IN    97    STK   1S12E9534VE422035   BW    CO   CO    98050473422
670274   TRAILER   IN    97    STK   1S12E9536VE422036   BW    CO   CO    98050473423
670275   TRAILER   IN    97    STK   1S12E9538VE422037   BW    CO   CO    98050473424
670276   TRAILER   IN    97    STK   1S12E953XVE422038   BW    CO   CO    98050473425
670277   TRAILER   IN    97    STK   1S12E9531VE422039   BW    CO   CO    98050473426
670278   TRAILER   IN    97    STK   1S12E9538VE422040   BW    CO   CO    98050473427
670279   TRAILER   IN    97    STK   1S12E953XVE422041   BW    CO   CO    98050473428
670280   TRAILER   IN    97    STK   1S12E9531VE422042   BW    CO   CO    98050473429
670281   TRAILER   IN    97    STK   1S12E9533VE422043   BW    CO   CO    98050473430
670282   TRAILER   IN    97    STK   1S12E9535VE422044   BW    CO   CO    98050473431
670283   TRAILER   IN    97    STK   1S12E9537VE422045   BW    CO   CO    98050473432
670284   TRAILER   IN    97    STK   1S12E9539VE422046   BW    CO   CO    98050473433
670285   TRAILER   IN    97    STK   1S12E9530VE422047   BW    CO   CO    98050473434
670286   TRAILER   IN    97    STK   1S12E9532VE422048   BW    CO   CO    98050473437
670287   TRAILER   IN    97    STK   1S12E9534VE422049   BW    CO   CO    98050473439
670288   TRAILER   IN    97    STK   1S12E9530VE422050   BW    CO   CO    98050473442
670289   TRAILER   IN    97    STK   1S12E9532VE422051   BW    CO   CO    98050473444
670290   TRAILER   IN    97    STK   1S12E9534VE422052   BW    CO   CO    98050473446
670291   TRAILER   IN    97    STK   1S12E9536VE422053   BW    CO   CO    98050473448
670292   TRAILER   IN    97    STK   1S12E9538VE422054   BW    CO   CO    98050473450
670293   TRAILER   IN    97    STK   1S12E953XVE422055   BW    CO   CO    98050473452
670294   TRAILER   IN    97    STK   1S12E9531VE422056   BW    CO   CO    98050473454
670295   TRAILER   IN    97    STK   1S12E9533VE422057   BW    CO   CO    98050473457
670296   TRAILER   IN    97    STK   1S12E9535VE422058   BW    CO   CO    98050473459
670297   TRAILER   IN    97    STK   1S12E9537VE422059   BW    CO   CO    98050473461
670298   TRAILER   IN    97    STK   1S12E9533VE422060   BW    CO   CO    98050473463
670299   TRAILER   IN    97    STK   1S12E9535VE422061   BW    CO   CO    98050473465
670300   TRAILER   IN    97    STK   1S12E9537VE422062   BW    CO   CO    98050473468
670301   TRAILER   IN    97    STK   1S12E9539VE422063   BW    CO   CO    98050473470
670302   TRAILER   IN    97    STK   1S12E9530VE422064   BW    CO   CO    98050473472
670303   TRAILER   IN    97    STK   1S12E9532VE422065   BW    CO   CO    98050473474
670304   TRAILER   IN    97    STK   1S12E9534VE422066   BW    CO   CO    98050473477
670305   TRAILER   IN    97    STK   1S12E9536VE422067   BW    CO   CO    98050473482
670306   TRAILER   IN    97    STK   1S12E9538VE422068   BW    CO   CO    98050473484
670307   TRAILER   IN    97    STK   1S12E953XVE422069   BW    CO   CO    98050473487
670308   TRAILER   IN    97    STK   1S12E9536VE422070   BW    CO   CO    98050473489
670409   TRAILER   IN    94    STN   1DW1A532XRS835000   BW    CO   CO    98050473490
670410   TRAILER   IN    94    STN   1DW1A5321RS835001   BW    CO   CO    98050473492
670411   TRAILER   IN    94    STN   1DW1A5323RS835002   BW    CO   CO    98050473493
670412   TRAILER   IN    94    STN   1DW1A5325RS835003   BW    CO   CO    98050473496
670413   TRAILER   IN    94    STN   1DW1A5327RS835004   BW    CO   CO    98050473498
670414   TRAILER   IN    94    STN   1DW1A5329RS835005   BW    CO   CO    98050473500
670415   TRAILER   IN    94    STN   1DW1A5320RS835006   BW    CO   CO    98050473502
670416   TRAILER   IN    94    STN   1DW1A5322RS835007   BW    CO   CO    98050473503
670417   TRAILER   IN    94    STN   1DW1A5324RS835008   BW    CO   CO    98050473505
</TABLE>

<PAGE>

        LIST OF NORTH AMERICAN VAN LINES TITLED EQUIPMENT AS OF 10/30/99

PAGE 54

<TABLE>
<CAPTION>
                   LIC                              SERIAL                                         TITLE
 UNIT    TYPE       ST         YR      MAKE         NUMBER             DIV        SUB      FC     NUMBER
------  -------  --------   --------   ----  ---------------------   --------   --------   ---  -----------
<S>     <C>      <C>        <C>        <C>   <C>                     <C>        <C>        <C>  <C>
670418  TRAILER     IN         94      STN       1DW1A5326RS835009      BW         CO      CO   98050473507
670419  TRAILER     IN         94      STN       1DW1A5322RS835010      BW         CO      CO   98050473508
670420  TRAILER     IN         94      STN       1DW1A5324RS835011      BW         CO      CO   98050473510
670421  TRAILER     IN         94      STN       1DW1A5326RS835012      BW         CO      CO   98050473523
670422  TRAILER     IN         94      STN       1DW1A5328RS835013      BW         CO      CO   98050473524
670423  TRAILER     IN         94      STN       1DW1A532XRS835014      BW         CO      CO   98050473526
670424  TRAILER     IN         94      STN       1DW1A5321RS835015      BW         CO      CO   98050473530
670425  TRAILER     IN         94      STN       1DW1A5323RS835016      BW         CO      CO   98050473532
670426  TRAILER     IN         94      STN       1DW1A5325RS835017      BW         CO      CO   98050473535
670427  TRAILER     IN         94      STN       1DW1A5327RS835018      BW         CO      CO   98050473539
670428  TRAILER     IN         94      STN       1DW1A5329RS835019      BW         CO      CO   98050473541
670429  TRAILER     IN         94      STN       1DW1A5325RS835020      BW         CO      CO   98050473544
670430  TRAILER     IN         94      STN       1DW1A5327RS835021      BW         CO      CO   98050473547
670431  TRAILER     IN         94      STN       1DW1A5329RS835022      BW         CO      CO   98050473550
670432  TRAILER     IN         94      STN       1DW1A5320RS835023      BW         CO      CO   98050473553
670433  TRAILER     IN         94      STN       1DW1A5322RS835024      BW         CO      CO   98050473554
670434  TRAILER     IN         94      STN       1DW1A5324RS835025      BW         CO      CO   98050473556
670435  TRAILER     IN         94      STN       1DW1A5326RS835026      BW         CO      CO   98050473558
670436  TRAILER     IN         94      STN       1DW1A5328RS835027      BW         CO      CO   98050473560
670437  TRAILER     IN         94      STN       1DW1A532XRS835028      BW         CO      CO   98050473563
670438  TRAILER     IN         94      STN       1DW1A5321RS835029      BW         CO      CO   98050473566
670439  TRAILER     IN         94      STN       1DW1A5328RS835030      BW         CO      CO   98050473568
670441  TRAILER     IN         94      STN       1DQ1A5321RS835032      BW         CO      CO   98050473571
670442  TRAILER     IN         94      STN       1DW1A5323RS835033      BW         CO      CO   98050473574
670443  TRAILER     IN         94      STN       1DW1A5325RS835034      BW         CO      CO   98050473577
670444  TRAILER     IN         94      STN       1DW1A5327RS835035      BW         CO      CO   98050473579
670445  TRAILER     IN         94      STN       1DW1A5329RS835036      BW         CL      LA   98050473582
670446  TRAILER     IN         94      STN       1DW1A5320RS835037      BW         CO      CO   98050473584
670447  TRAILER     IN         94      STN       1DW1A5322RS835038      BW         CO      CO   98050473587
670448  TRAILER     IN         94      STN       1DW1A5324RS835039      BW         CO      CO   98050473590
670449  TRAILER     IN         94      STN       1DW1A5320RS835040      BW         CO      CO   98050473593
670450  TRAILER     IN         94      STN       1DW1A5322RS835041      BW         CO      CO   98050473596
670451  TRAILER     IN         94      STN       1DW1A5324RS835042      BW         CO      CO   98050473602
670452  TRAILER     IN         94      STN       1DW1A5326RS835043      BW         CO      CO   98050473604
670453  TRAILER     IN         94      STN       1DW1A5328RS835044      BW         CO      CO   98050473607
670454  TRAILER     IN         94      STN       1DW1A532XRS835045      BW         CO      CO   98050473608
670455  TRAILER     IN         94      STN       1DW1A5321RS835046      BW         CO      CO   98050473612
670456  TRAILER     IN         94      STN       1DW1A5323RS835047      BW         CO      CO   98050473615
670457  TRAILER     IN         94      STN       1DW1A5325RS835048      BW         CO      CO   98050473618
670458  TRAILER     IN         94      STN       1DW1A5327RS835049      BW         CO      CO   98050473621
670459  TRAILER     IN         94      STN       1DW1A5323RS835050      BW         CO      CO   98050473625
670460  TRAILER     IN         94      STN       1DW1A5325RS835051      BW         CO      CO   98050473627
670461  TRAILER     IN         94      STN       1DW1A5327RS835052      BW         CO      CO   98050473630
670462  TRAILER     IN         94      STN       1DW1A5329RS835053      BW         CO      CO   98050473634
670463  TRAILER     IN         94      STN       1DW1A5320RS835054      BW         CO      CO   98050473637
670464  TRAILER     IN         94      STN       1DW1A5322RS835055      BW         CO      CO   98050473639
670465  TRAILER     IN         94      STN       1DW1A5324RS835056      BW         CO      CO   98050473642
670466  TRAILER     IN         94      STN       1DW1A5326RS835057      BW         CO      CO   98050473646
670467  TRAILER     IN         94      STN       1DW1A5328RS835058      BW         CO      CO   98050473651
670468  TRAILER     IN         94      STN       1DW1A532XRS835059      BW         CO      CO   98050473654
</TABLE>

<PAGE>

PAGE 55

LIST OF NORTH AMERICAN VAN LINES TITLED EQUIPMENT AS OF 10/30/99

<TABLE>
<CAPTION>
                   LIC               SERIAL                               TITLE
 UNIT     TYPE     ST    YR    MAKE  NUMBER              DIV   SUB  FC    NUMBER
 ----     ----     --    --    ----  ------              ---   ---  --    ------
<S>      <C>       <C>   <C>   <C>   <C>                 <C>   <C>  <C>   <C>
670469   TRAILER   IN    94    STN   1DW1A5326RS835060   BW    CO   CO    98050473656
670470   TRAILER   IN    94    STN   1DW1A5328RS835061   BW    CO   CO    98050473659
670471   TRAILER   IN    94    STN   1DW1A532XRS835062   BW    CO   CO    98050473661
670472   TRAILER   IN    94    STN   1DW1A5321RS835063   BW    CO   CO    98050473664
670473   TRAILER   IN    94    STN   1DW1A5323RS835064   BW    CO   CO    98050473666
670474   TRAILER   IN    94    STN   1DW1A5325RS835065   BW    CO   CO    98050473667
670475   TRAILER   IN    94    STN   1DW1A5327RS835066   BW    CO   CO    98050473669
670476   TRAILER   IN    94    STN   1DW1A5329RS835067   BW    CO   CO    98050473673
670477   TRAILER   IN    94    STN   1DW1A5320RS835068   BW    CO   CO    98050473676
670478   TRAILER   IN    94    STN   1DW1A5322RS835069   BW    CO   CO    98050473677
670479   TRAILER   IN    94    STN   1DW1A5329RS835070   BW    CO   CO    98050473680
670480   TRAILER   IN    94    STN   1DW1A5320RS835071   BW    CO   CO    98050473683
670481   TRAILER   IN    94    STN   1DW1A5322RS835072   BW    CO   CO    98050473685
670482   TRAILER   IN    94    STN   1DW1A5324RS835073   BW    CO   CO    98050473688
670483   TRAILER   IN    94    STN   1DW1A5326RS835074   BW    CO   CO    98050473690
670484   TRAILER   IN    94    STN   1DW1A5328RS835075   BW    CO   CO    98050473693
670485   TRAILER   IN    94    STN   1DW1A532XRS835076   BW    CO   CO    98050473695
670486   TRAILER   IN    94    STN   1DW1A5321RS835077   BW    CO   CO    98050473697
670487   TRAILER   IN    94    STN   1DW1A5323RS835078   BW    CO   CO    98050473699
670488   TRAILER   IN    94    STN   1DW1A5325RS835079   BW    CO   CO    98050473701
670489   TRAILER   IN    94    STN   1DW1A5321RS835080   BW    CO   CO    98050473704
670490   TRAILER   IN    94    STN   1DW1A5323RS835081   BW    CO   CO    98050473706
670491   TRAILER   IN    94    STN   1DW1A5325RS835082   BW    CO   CO    98050473708
670492   TRAILER   IN    94    STN   1DW1A5327RS835083   BW    CO   CO    98050473710
670493   TRAILER   IN    94    STN   1DW1A5329RS835084   BW    CO   CO    98050473712
670494   TRAILER   IN    94    STN   1DW1A5320RS835085   BW    CO   CO    98050473715
</TABLE>

<PAGE>

ALLIED VAN LINES
HHO Shuttle Fleet Trailers
Acct #123505 & 605-2810

<TABLE>
<CAPTION>

YEAR        AVL #         MAKE         VIN #
----        -----       --------       -----
<S>         <C>         <C>            <C>

1980        72847       Kentucky       60455
1980        72848       Kentucky       60450
1980        72849       Kentucky       60451
1980        72850       Kentucky       60454

</TABLE>

<PAGE>

PAGE     1

COUNT OF NAVL TITLED UNITS AS OF 10/30/99

<TABLE>
<CAPTION>
                   UNIT
TYPE              COUNT
----              -----
<S>               <C>
DOLLY               17
-----------------------
ST. TRUCK           12
-----------------------
TRACTOR             52
-----------------------
TRAILER           2645
-----------------------

TOTAL             2726
</TABLE>

<PAGE>

-------------------------------------------------------------------------------
          SPECIAL PRODUCTS TRAILERS & ACCUMULATED DEPRECIATION
                    #123505-2813 & #123605-2813
                         SEPTEMBER, 1999
-------------------------------------------------------------------------------

<TABLE>
<CAPTION>
          MODEL                                           DATE
COUNT      YEAR     AVL #             VIN #             ACQUIRED     STATE
-----     -----     -----    ----------------------     --------     -----
<S>        <C>      <C>      <C>                         <C>           <C>
  1        1983     63777    1KKVE4829DL000688           Mar-83        IL
  2        1983     63778    1KKVE4528DL000654           Mar-83        IL
  3        1985     60688    1KKVE4822FL074635           May-88        IL
  4        1985     60718    1KKVE4826FL074640           May-88        IL
  5        1985     60722    1KKVE4828FL074641           May-88        IL
  6        1986     64590    1KKVE4824GL076131           Jul-93        IL
  7        1986     64592    1KKVE4828GL076133           Jul-93        IL
  8        1986     64599    1KKVE4825GL076140           Jul-93        IL
  9        1986     64600    1KKVE4827GL076141           Jul-93        IL
 10        1986     64601    1KKVE4829GL076142           Jul-93        IL
 11        1986     64612    1KKVE4823GL076153           May-88        IL
 12        1986     64621    1KKVE4824GL076162           May-88        IL
 13        1986     64626    1KKVE4823GL076167           Mar-93        IL
 14        1987     64680    1KKVE482XHL078144           Mar-93        IL
 15        1989     71566    1KKVE4829KL083861           Feb-96        IL
 16        1989     71601    1KKVE4822K1083796           Feb-96        IL
 17        1989     71602    1KKVE4824KL083797           Feb-96        IL
 18        1989     71603    1KKVE4826K1083798           Feb-96        IL
 19        1989     71604    1KKVE4828KL083799           Feb-96        IL
 20        1989     71605    1KKVE4820KL083800           Feb-96        IL
 21        1989     71606    1KKVE4822KL083801           Feb-96        IL
 22        1989     71607    1KKVE4824KL083802           Feb-96        IL
 23        1989     71608    1KKVE4826KL083803           Feb-96        IL
 24        1989     71609    1KKVE4828KL083804           Feb-96        IL
 25        1989     71610    1KKVE482XKL083805           Feb-96        IL
 26        1989     71611    1KKVE4821KL083806           Feb-96        IL
 27        1989     71612    1KKVE4823KL083807           Feb-96        IL
 28        1989     71613    1KKVE4825KL083808           Feb-96        IL
 29        1989     71614    1KKVE4827KL083809           Feb-96        IL
 30        1989     71615    1KKVE4823KL083810           Feb-96        IL
 31        1989     71616    1KKVE4825KL083811           Feb-96        IL
 32        1989     71617    1KKVE4827KL083812           Feb-96        IL
 33        1989     71618    1KKVE4829KL083813           Feb-96        IL
 34        1989     71619    1KKVE4820KL083814           Feb-96        IL
 35        1989     71620    1KKVE4822KL083815           Feb-96        IL
 36        1989     71621    1KKVE4824KL083816           Feb-96        IL
 37        1989     71622    1KKVE4826KL083817           Feb-96        IL
 38        1989     71623    1KKVE4828KL083818           Feb-96        IL
 39        1989     71624    1KKVE482XKL083819           Feb-96        IL
 40        1989     71625    1KKVE4826KL083820           Feb-96        IL
 41        1989     71626    1KKVE4828KL083821           Feb-96        IL
 42        1989     71627    1KKVE482XKL083822           Feb-96        IL
 43        1989     71628    1KKVE4821KL083823           Feb-96        IL
 44        1989     71629    1KKVE4823KL083824           Feb-96        IL
 45        1989     71630    1KKVE4825KL083825           Feb-96        IL
 46        1989     71631    1KKVE4827KL083826           Feb-96        IL
 47        1989     71632    1KKVE4829KL083827           Feb-96        IL
 48        1989     71633    1KKVE4820KL083828           Feb-96        IL
 49        1989     71634    1KKVE4822KL083829           Feb-96        IL
 50        1989     71635    1KKVE4829KL083830           Feb-96        IL
 51        1989     71636    1KKVE4820KL083831           Feb-96        IL
 52        1989     71637    1KKVE4822KL083832           Feb-96        IL
 53        1989     71638    1KKVE4824KL083833           Feb-96        IL
 54        1989     71639    1KKVE4826KL083834           Feb-96        IL
 55        1989     71640    1KKVE4828KL083835           Feb-96        IL
 56        1989     71641    1KKVE482XKL083836           Feb-96        IL
 57        1989     71642    1KKVE4821KL083837           Feb-96        IL
 58        1989     71643    1KKVE4823KL083838           Feb-96        IL
 59        1989     71644    1KKVE4825KL083839           Feb-96        IL
 60        1989     71645    1KKVE4821KL083840           Feb-96        IL
 61        1989     71646    1KKVE4823KL083841           Feb-96        IL
 62        1989     71647    1KKVE4825KL083842           Feb-96        IL
 63        1989     71648    1KKVE4827KL083843           Feb-96        IL
 64        1989     71649    1KKVE4829KL083844           Feb-96        IL
 65        1989     71650    1KKVE4820KL083845           Feb-96        IL
 66        1989     71651    1KKVE4822KL083846           Feb-96        IL
 67        1989     71652    1KKVE4824KL083847           Feb-96        IL
 68        1989     71653    1KKVE4826KL083848           Feb-96        IL
 69        1989     71654    1KKVE4828KL083849           Feb-96        IL
 70        1989     71655    1KKVE4824KL083850           Feb-96        IL
 71        1989     71656    1KKVE4826KL083851           Feb-96        IL
 72        1989     71657    1KKVE4828KL083852           Feb-96        IL
 73        1989     71658    1KKVE482XKL083853           Feb-96        IL
 74        1989     71659    1KKVE4821KL083854           Feb-96        IL
 75        1989     71660    1KKVE4823KL083855           Feb-96        IL
 76        1989     71661    1KKVE4825KL083856           Feb-96        IL
 77        1989     71662    1KKVE4827KL083857           Feb-96        IL
 78        1989     71663    1KKVE4829KL083858           Feb-96        IL
</TABLE>

<PAGE>

ALLIED
VAN
LINES
VEHICLES

<TABLE>
<CAPTION>
YEAR                      DESCRIPTION                       VIN#                 STATE
<S>           <C>                                     <C>                        <C>
1996          Ford/Goshen Pacer LTD - Shuttle Bus     1FDJE30H7THB51500          IL
1996                Dodge Cargo Van - 1500 Series     2B4HB15X4TK123910          IL
1998                             Plymouth Voyager     2P4FH4134JR536911          IL
</TABLE>

<PAGE>

-------------------------------------------------------------------------------
          SPECIAL PRODUCTS TRAILERS & ACCUMULATED DEPRECIATION
                    #123505-2813 & #123605-2813
                         SEPTEMBER, 1999
-------------------------------------------------------------------------------

<TABLE>
<CAPTION>
          MODEL                                           DATE
COUNT      YEAR     AVL #             VIN #             ACQUIRED     STATE
-----     -----     -----    ----------------------     --------     -----
<S>        <C>      <C>      <C>                         <C>           <C>
157        1998     73448    1KKVE5322WL112670           Apr-98        IL
158        1998     73449    1KKVE5324WL112671           Apr-98        IL
159        1998     73450    1KKVE5326WL112672           Apr-98        IL
160        1998     73451    2KKVE5328WL112673           Apr-98        IL
161        1998     61436    1KKVE5323WL113441           Apr-98        IL
162        1998     62204    1KKVE5325WL113439           Apr-98        IL
163        1998     62218    1KKVE5321WL113440           Apr-98        IL
164        1998     62202    1KKVE5323WL113438           Apr-98        IL
165        1999     62127    1KKVE532XXL115155           Mar-99        IL
-------------------------------------------------------------------------------
165
-------------------------------------------------------------------------------
-------------------------------------------------------------------------------
</TABLE>

<PAGE>

-------------------------------------------------------------------------------
          SPECIAL PRODUCTS TRAILERS & ACCUMULATED DEPRECIATION
                    #123505-2813 & #123605-2813
                         SEPTEMBER, 1999
-------------------------------------------------------------------------------

<TABLE>
<CAPTION>
          MODEL                                           DATE
COUNT      YEAR     AVL #             VIN #             ACQUIRED     STATE
-----     -----     -----    ----------------------     --------     -----
<S>        <C>      <C>      <C>                         <C>           <C>
 79        1989     71664    1KKVE4820KL083859           Feb-96        IL
 80        1989     71665    1KKVE4827KL083860           Feb-96        IL
 81        1989     71667    1KKVE4820KL083862           Feb-96        IL
 82        1989     71668    1KKVE4822KL083863           Feb-96        IL
 83        1989     71669    1KKVE4824KL083864           Feb-96        IL
 84        1989     71670    1KKVE4826KL083865           Feb-96        IL
 85        1989     71671    1KKVE4828KL083866           Feb-96        IL
 86        1989     71672    1KKVE482XKL083867           Feb-96        IL
 87        1989     71673    1KKVE4821KL083868           Feb-96        IL
 88        1989     71674    1KKVE4823KL083869           Feb-96        IL
 89        1989     71675    1KKVE482XKL083870           Feb-96        IL
 90        1989     71676    1KKVE4821KL083871           Feb-96        IL
 91        1989     71677    1KKVE4823KL083872           Feb-96        IL
 92        1989     71678    1KKVE4825KL083873           Feb-96        IL
 93        1989     71679    1KKVE4827KL083874           Feb-96        IL
 94        1989     71680    1KKVE4829KL083875           Feb-96        IL
 95        1989     71681    1KKVE4820KL083876           Feb-96        IL
 96        1989     71682    1KKVE822KL083877            Feb-96        IL
 97        1989     71683    1KKVE4824KL083878           Feb-96        IL
 98        1989     71684    1KKVE4826KL083879           Feb-96        IL
 99        1989     71685    1KKVE4822KL083880           Feb-96        IL
100        1989     71686    1KKVE4824KL083881           Feb-96        IL
101        1989     71687    1KKVE4826KL083882           Feb-96        IL
102        1989     71688    1KKVE4828KL083883           Feb-96        IL
103        1995     72418    1KKVE4823SL101478           Jan-95        IL
104        1995     72419    1KKVE4825SL101479           Jan-95        IL
105        1995     72420    1KKVE4821SL101480           Jan-95        IL
106        1995     72421    1KKVE4823SL101481           Oct-94        IL
107        1995     72422    1KKVE4825SL101482           Nov-94        IL
108        1995     72423    1KKVE4827SL101483           Oct-94        IL
109        1995     72424    1KKVE4829SL101484           Jan-95        IL
110        1995     72425    1KKVE4820SL101485           Jan-95        IL
111        1995     72426    1KKVE4822SL101486           Oct-94        IL
112        1995     72427    1KKVE4824SL101487           Nov-94        IL
113        1995     72428    1KKVE4828SL101508           Dec-94        IL
114        1995     72429    1KKVE482XSL101509           Dec-94        IL
115        1995     72430    1KKVE4826SL101510           Dec-94        IL
116        1995     72431    1KKVE4828SL101511           Dec-94        IL
117        1995     72432    1KKVE482XSL101512           Dec-94        IL
118        1995     72433    1KKVE4824SL100730           Oct-94        IL
119        1995     72434    1KKVE4826SL100731           Oct-94        IL
120        1995     72435    1KKVE4828SL100732           Oct-94        IL
121        1995     72436    1KKVE482XSL100733           Nov-94        IL
122        1995     72437    1KKVE4821SL100734           Oct-94        IL
123        1995     72439    1KKVE4826SL101474           Nov-94        IL
124        1995     72440    1KKVE4828SL101475           Nov-94        IL
125        1995     72441    1KKVE482XSL101476           Nov-94        IL
126        1995     72442    1KKVE4821SL101477           Dec-94        IL
127        1995     72443    1KKVE4829SL101503           Dec-94        IL
128        1995     72444    1KKVEJ820SL101504           Dec-94        IL
129        1995     72445    1KKVE4822SL101505           Dec-94        IL
130        1995     72446    1KKVE4824SL101506           Dec-94        IL
131        1995     72447    1KKVE4826SL101507           Dec-94        IL
132        1995     72448    1KKVE4827SL101533           Dec-94        IL
133        1995     72449    1KKVE4829SL101534           Jan-95        IL
134        1995     72450    1KKVE4820SL101535           Jan-95        IL
135        1995     72451    1KKVE4822SL101536           Jan-95        IL
136        1995     72452    1KKVE4824SL101537           Jan-95        IL
137        1995     72453    1KKVE4820SL100725           Oct-94        IL
138        1995     72454    1KKVE4822SL100726           Nov-94        IL
139        1995     72455    1KKVE4824SL100727           Nov-94        IL
140        1995     72456    1KKVE4826SL100728           Nov-94        IL
141        1995     72457    1KKVE4828SL100729           Nov-94        IL
142        1996     73172    4FGL5320XTA964451           Sep-96        IL
143        1996     73194    4FGL53207TA967596           Sep-96        IL
144        1984     53935    1KKVE4522EL068532           Jul-97        IL
145        1993     52133    1KKVE4826PL093626           Nov-97        IL
146        1993     52225    1KKVE4828PL093627           Nov-97        IL
147        1993     62234    1KKVE482XPL093628           Nov-97        IL
148        1993     62272    1KKVE4821PL093629           Nov-97        IL
149        1993     52397    1KKVE4828PL093630           Nov-97        IL
150        1993     52506    1KKVE482XPL093631           Nov-97        IL
151        1993     52545    1KKVE4821PL093632           Nov-97        IL
152        1993     52568    1KKVE4823PL093633           Nov-97        IL
153        1993     52586    1KKVE4825PL093634           Nov-97        IL
154        1993     52680    1KKVE4827PL093635           Nov-97        IL
155        1998     73446    1KKVE5324WL112668           Apr-98        IL
156        1998     73447    1KKVE5326WL112669           Apr-98        IL
</TABLE>

<PAGE>

ALLIED VAN LINES EQUIPMENT LEASED TO AGENTS OR USED IN SHUTTLE

<TABLE>
<CAPTION>
AGENT                                                                                          VEH
CODE                      AGENT NAME                      AVL #             VIN #              TYPE        LEASE #       STATE
-----        --------------------------------------       -----       -----------------       ------       -------       -----
<S>          <C>                                          <C>         <C>                     <C>           <C>            <C>
11870        WILLIAM E. CONDON JR.                        34011       1XKADB9X4RJ632628        KW           22278
14761        WILLIAM CLIFTON                              33061       1XKWD49X1XJ815497        KW           22290          IL
20287        KEVIN T. UNDERHILL, SR.                      34190       1HSRUAHR1VH417227        IHCT         22285          IL
21829        JEFFREY A. FISHER                            31500       4VG7DAJK0XN231901        VOLVO        22293          IL
23098        MARC J. QUIRION                              36014       2FUYDXYB7TA619346        FRTLR        22284          IL
34825        GEORGE RANSON                                31318       4VG7DAJJ5XN791405        VOLVO        22292          IL
0049-0       ASTRO MOVING & STORAGE                       72496       1KKVE4823SL101545        KY48F        20396          IL
0049-0       ASTRO MOVING & STORAGE CO., INC.             72707       1KKVE4828SL102299        KY48F        20432          IL
0049-0       ASTRO MOVING & STORAGE                       72709       1KKVE4822SL102301        KY48F        20467          IL
0049-0       ASTRO MOVING & STORAGE                       73170       4FGL5320XTA964062        FL53F        20526          IL
0049-0       ASTRO MOVING & STORAGE CO., INC.             63011       1KKVE5124WL112964        KY51F        20637          IL
0049-0       ASTRO MOVING & STORAGE CO., INC.             60935       1KKVE5123XL114349        KY51F        20655          IL
0049-0       ASTRO MOVING & STORAGE CO., INC.             62481       1KKVE5327XL115453        KY53F        20657          IL
0053-0       ASTRO LAW'S MOVING & STORAGE                 63074       1KKVE5128WL112965        KY51F        20638          IL
0053-0       ASTRO LAW'S MOVING & STORAGE                 60967       1KKVE512XXL114350        KY51F        20650          IL
0053-0       ASTRO LAW'S MOVING & STORAGE                 71007       1KKVE5323XL115613        KY53F        20699
0053-0       ASTRO LAW'S MOVING & STORAGE                 71171       1KKVE5322XL115618        KY53F        20702          IL
0065-0       AMBASSADOR MOVING & STORAGE                  60894       1KKVE5121XL114348        KY51F        20654
0078-0       ASSOCIATED MOVING & STORAGE CO., INC.        72780       1KKVE5022TL108976        KY50F        20481          IL
0078-0       ASSOCIATED MOVING & STORAGE CO., INC.        72781       1KKVE5024TL105977        KY50F        20482          IL
0131-0       BURNETT MOVING & STORAGE, INC.               23890       1FV6HFAA1XMB62624        FRTST        24082
0137-0       BLOCKER TRANSFER & STORAGE CO., INC.         73372       4FGL53201VA966205        FL53F        20602          IL
0137-0       BLOCKER TRANSFER & STORAGE CO., INC.         73373       4FGL53203VA966206        FL53F        20603          IL
0422-0       CHAMPION MOVING & STORAGE, INC.              73191       4FG151207TA964444        FL51F        20667          IL
0422-0       CHAMPION MOVING & STORAGE, INC.              73177       1FG151207TA964430        FL51F        20668          IL
0510-0       A-1 ORLANDO MOVING & STORAGE, INC.           73363       1KKVE4828VL109838        KY48S        20669          IL
0510-0       A-1 ORLANDO MOVING & STORAGE, INC.           73490       4FGL51205TA964443        FL51F        20670          IL
0512-0       TREDWAYS MOVING & STORAGE, INC.              72608       1KKVE4820SL102460        KY48F        20435          IL
0561-0       DUNMAR MOVERS CHARLOTTE                      73070       1KKVE5127VL108566        KY51F        20548          IL
0608-0       ELGIN WAREHOUSE & EQUIPMENT                  37727       1XKWDB9X8XJ792191         KW          22291          IL
0750-0       ALL-WAYS/FISHER TRANSPORTATION, INC.         73285       1KKVE5336VL109777        KY53S        20600          IL
0750-0       ALL-WAYS/FISHER TRANSPORTATION, INC.         64242       4FGL05322XL023239        FL53F        20659          IL
0750-0       ALL-WAYS/FISHER TRANSPORTATION               34557       1FUYDSEB1YPF55955        FRTLR        22295
0750-0       ALL-WAYS/FISHER TRANSPORTATION               34574       1FUYDSEB3YPF55956        FRTLR        22296
0750-2       FISHER'S TRANSPORTATION GROUP, INC           72673       1KKVE5024SL102381        KY50F        20397          IL
0750-2       FISHER'S TRANSPORTATION GROUP, INC           72674       1KKVE5028SL102382        KY50F        20398          IL
0750-2       FISHER'S TRANSPORTATION GROUP, INC           72675       1KKVE5028SL102383        KY50F        20401          IL
0750-2       FISHER'S TRANSPORTATION GROUP, INC           72676       1KKVE502XSL102384        KY50F        20402          IL
0801-0       GATES MOVING & STORAGE, INC.                 73376       4FGL53209VA966162        FL53F        20666          IL
1001-0       INTERSTATE MOVING & STORAGE CO.              72888       1KKVE532XTL106045        KY53S        20525          IL
1002-0       INLAND EMPIRE RELOCATION SERVICE             61069       1KKVE5326XL114357        KY53F        20652
1145-0       JACKSON MOVING SERVICES, L.L.C.              73300       4FGL51207VA964740        FL51F        20642          IL
1345-0       LANE'S MOVING & STORAGE, INC.                73223       1KKVE5327VL108614        KY53F        20554
1345-0       LANE'S MOVING & STORAGE, INC.                73979       1KKVE5323WL111740        KY53S        20604
1345-0       LANE'S MOVING & STORAGE, INC.                73980       1KKVE5325WL111741        KY53S        20605
1625-0       BENTON MOVING SERVICES, INC.                 73334       1KKVF5332VL109840        KY53B        20547
1728-0       O'NEILL TRANSFER & STORAGE CO., INC.         38276       1XPCDB8X4SN385176        PETER        22297          IL
1728-0       O'NEILL TRANSFER CO., INC.                   21662       1FV6HFAA7XMB62627        FRTST        24078
1830-0       THE MOVING COMPANY                           61532       1KKVE4824RL097113        KY48F        20658          IL
1830-0       THE MOVING COMPANY                           22347       1FV3HFAC8XHB62611        FRTST        24081          IL
1834-0       SIMONIK MOVING & STORAGE, INC.               72386       1KKVE5020SL102198        KY50S        20393
1834-0       SIMONIK MOVING & STORAGE, INC.               72387       1KKVE5022SL102199        KY50S        20394
1834-0       SIMONIK MOVING & STORAGE, INC.               72388       1KKVE5027SL102200        KY50S        20395
1834-0       SIMONIK MOVING & STORAGE, INC.               22362       1HTSDAAP1RH576423        IHCST        24072
2013-0       RELIABLE VAN & STORAGE CO., INC.             72469       1KKVE4821SL100247        KY48S        20385          IL
2013-0       RELIABLE VAN & STORAGE CO., INC.             72470       1KKVE4823SL100248        KY48S        20386          IL
2013-0       RELIABLE VAN & STORAGE CO.                   72622       1KKVE5328TL106027        KY53S        20470          IL
2013-0       RELIABLE VAN & STORAGE CO., INC.             72711       1KKVE4826SL102303        KY48F        20473
2152-0       SOUTHWEST TRANSFER & STORAGE CO., INC.       72611       1KKVE4824SL102459        KY48F        20405
2152-0       SOUTHWEST TRANSFER & STORAGE CO., INC.       23654       1HTSDAAP5SH240215        IHCST        24076
2614-0       WESTERN VAN & STORAGE                        72648       1KKVE5021SL102366        KY50S        20384          IL
</TABLE>

<PAGE>

ALLIED VAN LINES EQUIPMENT LEASED TO AGENTS OR USED IN SHUTT

<TABLE>
<CAPTION>
AGENT                                                                                          VEH
CODE                      AGENT NAME                      AVL #             VIN #              TYPE        LEASE #       STATE
-----        --------------------------------------       -----       -----------------       ------       -------       -----
<S>          <C>                                          <C>         <C>                     <C>           <C>            <C>
9021-0      AVL SHUTTLE FLEET                            73180        4FGL51202TA964433       FL51F        20515            IL
9021-0      AVL SHUTTLE FLEET                            73180        4FGL51202TA964433       FL51F        20515            IL
9021-0      AVL SHUTTLE                                  73280        1KKVE5320VL109765       KY53S        20572
9021-0      AVL SHUTTLE                                  73374        4FGL53205VA966160       FL53F        20576            IL
9021-0      AVL SHUTTLE                                  73185        4FGL51201TA964438       FL51F        20583            IL
</TABLE>

<PAGE>
        ALLIED VAN LINES EQUIPMENT LEASED TO AGENTS OR USED IN SHUTT

<TABLE>
<CAPTION>

AGENT
 CODE               AGENT NAME               AVL #        VIN #        VEH TYPE  LEASE # STATE
------  -----------------------------------  -----  -----------------  --------  ------- -----
<S>     <C>                                <C>    <C>                <C>         <C>     <C>
2617-0  WEST END MOVING & STORAGE CO., INC.  73458  1KKVE5325WL112680  KY53S     20646   IL
2617-0  WEST END MOVING & STORAGE CO., INC.  73459  1KKVE5327WL112681  KY53S     20647   IL
2617-0  WEST END MOVING & STORAGE CO., INC.  73462  1KKVE5322WL112684  KY53S     20648   IL
2617-0  WEST END MOVING & STORAGE CO., INC.  73464  1KKVE5328WL112686  KY53S     20649   IL
8132-0  TRANS ELECTRONICS, INC.              38677  2HSFHAER1VC075507  IHCT      22286   IL
8132-0  TRANS ELECTRONICS, INC.              36888  1KKAD69X7WJ773194   KW       22289   IL
9021-0  AVL SHUTTLE                          63305  1KKVE5126XL114331  KY51F     20671
9021-0  AVL SHUTTLE                          63460  1KKVE512XXL114333  KY51F     20672   IL
9021-0  AVL SHUTTLE                          63588  1KKVE5121XL114334  KY51F     20673   IL
9021-0  AVL SHUTTLE                          63605  1KKVE5123XL114335  KY51F     20674   IL
9021-0  AVL SHUTTLE                          63660  1KKVE5125XL114336  KY51F     20675   IL
9021-0  AVL SHUTTLE                          61229  1KKVE5320XL114368  KY53F     20676   IL
9021-0  AVL SHUTTLE                          61332  1KKVE5321XL114394  KY53F     20677   IL
9021-0  AVL SHUTTLE                          61341  1KKVE5323XL114395  KY53F     20678   IL
9021-0  AVL SHUTTLE                          61387  1KKVE5323XL114400  KY53F     20679   IL
9021-0  AVL SHUTTLE                          61398  1KKVE5325XL114401  KY53F     20680   IL
9021-0  AVL SHUTTLE                          61400  1KKVE5329XL114403  KY53F     20681   IL
9021-0  AVL SHUTTLE                          61401  1KKVE5320XL114404  KY53F     20682   IL
9021-0  AVL SHUTTLE                          61706  1KKVE5122XL114438  KY51F     20683   IL
9021-0  AVL SHUTTLE                          61740  1KKVE5124XL114439  KY51F     20684   IL
9021-0  AVL SHUTTLE                          61760  1KKVE5120XL114440  KY51F     20685   IL
9021-0  AVL SHUTTLE                          61771  1KKVE5122XL114441  KY51F     20686   IL
9021-0  AVL SHUTTLE                          61775  1KKVE5124XL114442  KY51F     20687   IL
9021-0  AVL SHUTTLE                          61802  1KKVE5126XL114443  KY51F     20688   IL
9021-0  AVL SHUTTLE                          61824  1KKVE5128XL114444  KY51F     20689   IL
9021-0  AVL SHUTTLE                          61831  1KKVE512XXL114445  KY51F     20690   IL
9021-0  AVL SHUTTLE                          62345  1KKVE532XXL115477  KY53F     20691   IL
9021-0  AVL SHUTTLE                          70517  1KKVE5120XL115538  KY51F     20692   IL
9021-0  AVL SHUTTLE                          70520  1KKVE5122XL115539  KY51F     20693   IL
9021-0  AVL SHUTTLE                          70662  1KKVE5323XL115546  KY53F     20694   IL
9021-0  AVL SHUTTLE                          70667  1KKVE5325XL115547  KY53F     20695   IL
9021-0  AVL SHUTTLE                          70912  1KKVE5329XL115552  KY53F     20696   IL
AGTDEV  AVL AGENGY DEVELOPMENT               72610  1KKVE4822SL102458  KY48F     20471   IL
AGTDEV  AVL AGENCY DEVELOPMENT               72704  1KKVE4822SL102296  KY48F     20478
AGTDEV  AVL AGENCY DEVELOPMENT               72656  1KKVE4828SL102237  KY48F     20479
AGTDEV  AVL AGENCY DEVELOPMENT               72714  1KKVE4821SL102306  KY48F     20480
AGTDEV  AVL AGENCY DEVELOPMENT               72699  1KKVE4828SL102223  KY48F     20530   IL
AGTDEV  AVL AGENCY DEVELOPMENT               72725  1KKVE4825SL102471  KY48F     20531   IL

21829   JEFFREY A. FISHER                    38883  1XKADB9X0RR641327   KW       22260   IL
24688   RICHARD LOPEZ                        34923  1XKADB9X0SJ646046   KW       22261
0750-0  FISHER'S MOVING & STORAGE            23354  1HTSDAAN6RH594852  IHCST     24064
1618-0  NEW ENGLAND HOUSEHOLD MVG & STG INC  23400  1HTSCACN5SH612196  IHCST     24067
2013-0  RELIABLE VAN & STORAGE CO., INC      34947  1XKADB9X2SJ646047   KW       22264   IL

99999   CHARLES SARGENT                                                FRTLR     22186   IL
0060-0  ASTRO MOVING & STORAGE               62552  1KKVE4821RL097621  KY48S     20389   IL
0065-0  AMBASSADOR MOVING & STORAGE          72289  1KKVE4822RL097577  KY48F     20353   IL
0137-0  BLOCKER TRANSFER & STORAGE CO.,      62153  1KKVE4825RL097573  KY48F     20344   IL
        INC.
0137-0  BLOCKER TRANSFER & STORAGE CO.,      72284  1KKVE4829RL097575  KY48F     20350   IL
        INC.
0137-0  BLOCKER TRANSFER & STORAGE CO.,      62231  1KKVE4827RL097574  KY48F     20351   IL
        INC.
0383-0  DUNMAR MOVING SYSTEMS                73179  4FGL51200TA964432  FL51F     20532   IL
0510-0  EXCEL MOVING AND STORAGE, INC.       73183  4FGL51208TA964436  FL51F     20700   IL
1002-0  INLAND EMPIRE RELOCATION SERVICE     62032  1KKVE4829RL097110  KY48F     20330
</TABLE>

<PAGE>
<TABLE>
<S>     <C>                                  <C>    <C>                <C>       <C>     <C>
2408-0  CHARLES H. CLINE                     62091  1KKVE4828RL097910  KY48S     20372   IL
2516-0  VIP TRANSPORT, INC.                  61601  1KKVE4828RL097907  KY48S     20342   IL
2614-0  WESTERN VAN & STORAGE                64951  1KKVE4821NL092722  KY48F     20332   IL
9021-0  ALLIED VAN LINES, INC. SHUTTLE       72330  1KKVE4824RL097886  KY48F     20368   IL
        FLEET
9021-0  AVL SHUTTLE FLEET                    73150  1KKVE4828TL105964  KY48F     20494
9021-0  AVL SHUTTLE FLEET                    73185  4FGL51201TA964438  FL51F     20500   IL
</TABLE>

<PAGE>
<TABLE>
<CAPTION>
 CUST
  NO.              NAME/LESSEE                 AVL #         VIN #        VEH TYPE   CUST NO.  LEASE #  REG STATE
------  -------------------------------------  -----  -----------------  ---------   --------  -------  ---------
 <S>    <C>                                    <C>     <C>                <C>        <C>       <C>      <C>
 11870  WILLIAM E. CONDON JR.                  34011   1XKADB8X4ARJ632628 KW           11870    22278
 14781  WILLIAM CLIFTON                        33061   1XKW049X1XJ815497  KW           14781    22285      IL
 20287  KEVIN T. UNDERHILL, SR.                34190   IHSRUAHR1VH417227  IHCT         20287    22285      IL
 21829  JEFFREY A. FISHER                      31500   4VG7DAJKOXN231901  VOLVO        21829    22285      IL
 23098  MARC J. QUIRON                         36014   2FUYDXYB7TAB18348  FRTLTR       23098    22284      IL
 34825  GEORGE RANSON                          31318   4VG7DAU5XN791405   VOLVO        34825    22292      IL
0049-0  ASTRO MOVING & STORAGE CO., INC.       60935   1KKVE5123XL114319  KY51F       0049-0    20855      IL
0049-0  ASTRO MOVING & STORAGE CO., INC.       62481   1KKVE5327XL115453  KY53F       0049-0    20857      IL
0049-0  ASTRO MOVING & STORAGE CO., INC.       63011   1KKVE5124WL112984  KY51F       0049-0    20637      IL
0049-0  ASTRO MOVING & STORAGE                 24901   1KKVE5124WL112984  KY48F       0049-0    20637      IL
0049-0  ASTRO MOVING & STORAGE CO., INC.       72707   1KKVE482SL102299   KY48F       0049-0    20396      IL
0049-0  ASTRO MOVING & STORAGE                 72709   1KKVE4822SL102301  KY48F       0049-0    20487      IL
0049-0  ASTRO MOVING & STORAGE                 73170   4FGL5320XTA984082  FL53F       0049-0    20526      IL
0053-0  ASTRO LAW'S MOVING & STORAGE           60967   IKKVE51ZXXL114350  KY51F       0053-0    20850      IL
0053-0  ASTRO LAW'S MOVING & STORAGE           63074   IKKVE5128WL112985  KY51F       0053-0    20638
0053-0  ASTRO LAW'S MOVING & STORAGE           71007   1KKVE4821RL097821  KY48S       0053-0    20389      IL
0053-0  ASTRO LAW'S MOVING & STORAGE           71007   IKKVE532XL115618   KY53F       0053-0    20702      IL
0085-0  AMBASSADOR MOVING & STORAGE            60894   1KKVE4822RL097577  KY48F       0085-0    20654      IL
0085-0  AMBASSADOR MOVING & STORAGE            72289   1KKVE4822RL097577  KY48F       0085-0    20353      IL
0078-0  ASSOCIATED MOVING & STORAGE CO., INC.  72780   1KKVE5022TL105976  KY50F       0078-0    20481      IL
0078-0  ASSOCIATED MOVING & STORAGE CO., INC.  72781   1KKVE5024TL105977  KY50F       0078-0    20482      IL
0131-0  BURNETT MOVING & STORAGE, INC.         23890   1FV8HFAA1XH852824  FRTST       0131-0    24082
0137-0  BLOCKER TRANSFER & STORAGE CO., INC.   73372   4FGL53201VA908205  FL53F       0137-0    20802      IL
0383-0  BLOCKER TRANSFER & STORAGE CO., INC.   73373   4FGL53203VA985206  FL53F       0383-0    20803      IL
0422-0  DUMNAR MOVING SYSTEMS                  73179   4FGL51200TA954432  FL51F       0422-0    20532      IL
0422-0  CHAMPION MOVING & STORAGE, INC.        73177   1FG151207TA984432  FL51F       0422-0    20888      IL
0512-0  CHAMPION MOVING & STORAGE, INC.        73191   4FG151207TA98444   FL51F       0512-0    20887      IL
0512-0  TREDWAYS MOVING & STORAGE              72608   1KKVE4820SL102480  KY48F       0512-0    20435      IL
0561-0  DUNMAR MOVERS CHARLOTTE                73070   1KKVE5127VL106566  KY51F       0561-0    20548      IL
0608-0  ELGIN WAREHOUSE & EQUIPMENT            37727   1XKWD89XBXJ792191  KW          0608-0    22291      IL
0610-0  EXCEL MOVING AND STORAGE INC           73183   4FGL51208TAB64436  FL51F       0610-0    20700      IL
0750-0  FISHER'S MOVING & STORAGE              23354   1HTSDAAN6RH594852  HCST        0750-0    24064
0750-0  ALL-WAYS/FISHER TRANSPORTATION         34557   1FUYDSEB1YPF55955  FRTLR       0750-0    22295
0750-0  ALL-WAYS/FISHER TRANSPORTATION         34574   1FUYDSEB3YPF55956  FRTLR       0750-0    22298
0750-0  ALL-WAYS/FISHER TRANSPORTATION INC     64242   4FCL053222L023229  FL53F       0750-0    20659      IL
0750-0  ALL-WAYS/FISHER TRANSPORTATION, INC    73285   1KKVE5336VL109777  KY535       0750-0    20800      IL
0750-2  FISHER'S TRANSPORTATION GROUP, INC     72673   1KKVE5024SL102381  KY50F       0750-2    20397      IL
0750-2  FISHER'S TRANSPORTATION GROUP, INC     72674   1KKVE5026SL102382  KY50F       0750-2    20398      IL
0750-2  FISHER'S TRANSPORTATION GROUP, INC     72675   1KKVE5028SL102383  KY50F       0750-2    20401      IL
0750-2  FISHER'S TRANSPORTATION GROUP, INC     72876   1KKVE502XSL102384  KY50F       0750-2    20402      IL
0801-0  GATES MOVING & STORAGE, INC            73378   4FGL53209VA965162  FL53F       0801-0    20665      IL
1001-0  INTERSTATE MOVING & STORAGE, CO        72688   1KKVE532XTL106045  KY53S       1001-0    20525      IL
1002-0  INLAND EMPIRE RELOCATION SERVICE       61069   1KKVE5326XL114357  KY53F       1002-0    20852
1002-0  INLAND EMPIRE RELOCATION SERVICE       62032   1KKVE4829RL097110  KY48F       1002-0    20330
1145-0  JACKSON MOVING SERVICES, LLC           73300   4FGL51207VA964740  FL51F       1145-0    20642      IL
1345-0  LANE'S MOVING & STORAGE, INC           73223   1KKVE5327VL106614  KY53F       1345-0    20554
1345-0  LANE'S MOVING & STORAGE, INC           73979   1KKVE5323WL111740  KY536S      1345-0    20604
1345-0  LANE'S MOVING & STORAGE, INC           73980   1KKVE532WL111741   KY53S       1345-0    20605
1618-0  NEW ENGLAND HOUSEHOLD MVG & STG INC    23400   1HTSCACNSSH612196  HCST        1618-0    24067
1625-0  BENTON MOVING SERVICES, INC            73334   1KKVF5332VL109840  KY53B       1625-0    20547
1725-0  O'NEILL TRANSFER CO INC                21852   1FV6HFAA7XH862627  FRTST       1725-0    24078
1728-0  O'NEILL TRANSFER & STORAGE CO INC      38276   1XPCDB8X4SN385178  PETER       1728-0    22297      IL
1830-0  THE MOVING COMPANY                     22347   1FV3HFAC8XHB62611  FRTST       1830-0    24081      IL
1830-0  THE MOVING COMPANY                     61532   1KKVE4824RL097113  KY48F       1830-0    20858      IL
1834-0  SIMONIK MOVING & STORAGE, INC          22362   1HTSOAAP1RH576423  IHCST       1834-0    24072
1834-0  SIMONIK MOVING & STORAGE, INC          72386   1KKVE5020SL102198  KY50S       1834-0    20393
1834-0  SIMONIK MOVING & STORAGE, INC          72387   1KKVE5022SL102199  KY50S       1834-0    20334
1834-0  SIMONIK MOVING & STORAGE, INC          72388   1KKVE5027SSL102200 KY50S       1834-0    20395
2013-0  RELIABLE VAN & STORAGE CO, INC         34947   1XXAD89X2SJ646047  KW          2013-0    22264      IL
2013-0  RELIABLE VAN & STORAGE CO, INC         72469   1KKVE4821SL100247  KY48S       2013-0    20385      IL
2013-0  RELIABLE VAN & STORAGE CO, INC         72470   1KKVE4823SL100248  KY48S       2013-0    20386      IL
2013-0  RELIABLE VAN & STORAGE CO              72622   1KKVE5328TL106027  KY53S       2013-0    20470      IL
2013-0  RELIABLE VAN & STORAGE CO, INC         72711   1KKVE4826SL102303  KY48F       2013-0    20473
2152-0  SOUTHWEST TRANSFER & STORAGE CO, INC   23854   1HTSDAAP5SH240215  HCST        2152-0    24076
2152-0  SOUTHWEST TRANSFER & STORAGE CO, INC   72511   1KKVE4824SL102459  KY48F       2152-0    20405
2408-0  CHARLES CLINE                          62091   1KKVE4826RL097910  KY48S       2408-0    20372      IL
2516-0  VIP TRANSPORT, INC                     61601   KKVE4828PCL087907  KY48S       2516-0    20342      IL
2614-0  WESTERN VAN & STORAGE                  64951   1KKVE4821NL0-92722 KY48F       2614-0    20332      IL
2614-0  WESTERN VAN & STORAGE                  72648   1KKVE5021SL102386  KY50S       2614-0    20384      IL
2617-0  WEST END MOVING & STORAGE CO. INC      73458   1KKVE5325WL112880  KY53S       2617-0    20846      IL
2617-0  WEST END MOVING & STORAGE CO. INC      73459   1KKVE5327WL112881  KY53S       2617-0    20847      IL
2617-0  WEST END MOVING & STORAGE CO. INC      73452   1KKVE5325WL112886  KY53S       2617-0    20849      IL
8132-0  TRANS ELECTRONICS, INC                 36888   1XKAD68X7WJ773914  KW          8132-0    22289      IL
8132-0  TRANS ELECTRONICS, INC                 36877   2HSFHAER1VC075507  IHCT        8132-0    22286      IL
9021-0  AVL SHUTTLE / INVENTORY RESALE         61229   1KKVE5320XL114368  KY53F       9021-0    20676      IL
9021-0  AVL SHUTTLE / INVENTORY RESALE         61332   1KKVE5321XL114394  KY53F       9021-0    20677      IL
9021-0  AVL SHUTTLE / INVENTORY RESALE         61341   1KKVE5323XL114395  KY53F       9021-0    20678      IL
9021-0  AVL SHUTTLE / INVENTORY RESALE         61387   1KKVE5323XL114400  KY53F       9021-0    20679      IL
9021-0  AVL SHUTTLE / INVENTORY RESALE         61398   1KKVE5323XL114401  KY53F       9021-0    20680      IL
9021-0  AVL SHUTTLE / INVENTORY RESALE         61400   1KKVE5323XL114400  KY53F       9021-0    20681      IL
9021-0  AVL SHUTTLE / INVENTORY RESALE         61401   1KKVE5323XL114404  KY53F       9021-0    20882      IL
9021-0  AVL SHUTTLE / INVENTORY RESALE         61708   1KKVE5122XL114438  KY51F       9021-0    20883      IL
9021-0  AVL SHUTTLE / INVENTORY RESALE         61740   1KKVE5124XL114439  KY51F       9021-0    20884      IL
9021-0  AVL SHUTTLE / INVENTORY RESALE         61780   1KKVE5120XL114440  KY51F       9021-0    20885      IL
9021-0  AVL SHUTTLE / INVENTORY RESALE         61771   1KKVE5122XL114441  KY51F       9021-0    20686      IL
9021-0  AVL SHUTTLE / INVENTORY RESALE         61775   1KKVE5124XL114442  KY51F       9021-0    20687      IL
9021-0  AVL SHUTTLE / INVENTORY RESALE         61802   1KKVE5128XL114443  KY51F       9021-0    20888      IL
9021-0  AVL SHUTTLE / INVENTORY RESALE         61824   1KKVE5128XL114444  KY51F       9021-0    20689      IL
9021-0  AVL SHUTTLE / INVENTORY RESALE         61831   1KKVE5128XL114445  KY51F       9021-0    20690      IL
9021-0  AVL SHUTTLE / INVENTORY RESALE         62345   1KKVE532XXL115477  KY53F       9021-0    20691      IL
9021-0  AVL SHUTTLE / INVENTORY RESALE         63305   1KKVE5126XL114331  KY51F       9021-0    20671      IL
9021-0  AVL SHUTTLE / INVENTORY RESALE         63460   1KKVE512XXL11433   KY51F       9021-0    20672      IL
9021-0  AVL SHUTTLE / INVENTORY RESALE         63588   1KKVE5121XL114334  KY51F       9021-0    20673      IL
9021-0  AVL SHUTTLE / INVENTORY RESALE         63605   1KKVE5123XL114335  KY51F       9021-0    20674      IL
9021-0  AVL SHUTTLE / INVENTORY RESALE         63660   1KKVE5121XL114336  KY51F       9021-0    20675      IL
9021-0  AVL SHUTTLE / INVENTORY RESALE         70517   1KKVE5120XL115538  KY51F       9021-0    20692      IL
9021-0  AVL SHUTTLE / INVENTORY RESALE         70520   1KKVE5122XL115539  KY51F       9021-0    20693      IL
9021-0  AVL SHUTTLE / INVENTORY RESALE         70662   1KKVE5323XL115548  KY53F       9021-0    20694      IL
9021-0  AVL SHUTTLE / INVENTORY RESALE         70667   1KKVE5323XL115547  KY53F       9021-0    20695      IL
9021-0  AVL SHUTTLE / INVENTORY RESALE         70912   1KKVE5329XL115552  KY53F       9021-0    20696      IL
9021-0  EHMKE MOVERS                           73150   1KKVE4828TL105964  KY48F       9021-0    20494      IL
9021-0  WHALEN'S MOVING & STORAGE              73180   4FG51202TA964433   FL51F       9021-0    20515      IL
9021-0  INTERSTATE MOVING & STORAGE CO         73185   4FG51201TA964438   FL51F       9021-0    20500      IL
AGTDEV  AVL AGENCY DEVELOPMENT / CITIZENS TRF  72610   1KKVE4822SL102458  KY48F       AGTDEV    20471      IL
AGTDEV  AVL AGENCY DEVELOPMENT / CITIZENS TRF  72656   1KKVE4828SL102237  KY48F       AGTDEV    20479
AGTDEV  AVL AGENCY DEVELOPMENT / M&L TRANSFER  72699   1KKVE4828SL102223  KY48F       AGTDEV    20530      IL
AGTDEV  AVL AGENCY DEVELOPMENT / CITIZENS TRF  72704   1KKVE4822SL102298  KY48F       AGTDEV    20478
AGTDEV  AVL AGENCY DEVELOPMENT / CITIZENS TRF  72714   1KKVE4821SL102308  KY48F       AGTDEV    20480
AGTDEV  AVL AGENCY DEVELOPMENT / CITIZENS TRF  72725   1KKVE4825SL102471  KY48F       AGTDEV    20531      IL

</TABLE>

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00001-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00001-of-00352.parquet"}]]