Document:

STOCK PURCHASE AGREEMENT

STOCK PURCHASE AGREEMENT ("Agreement"), dated November 17,
1997 by and among Jones Naughton Entertainment, Inc., a Colorado
corporation (hereinafter called "JNE") and David Evans ("Purchaser").

                                 W I T N E S S E T H

WHEREAS, JNE is the owner of certain shares of Series A
Convertible Preferred Stock (the "Preferred Stock") of AmeriNet
Financial Systems, Inc. ("AFSI") and desires to convert such
Preferred Stock into unrestricted shares of common stock and sell
22,223 shares of such unrestricted common stock (the "Shares") to
Purchaser on the terms and conditions set forth in this Stock
Purchase Agreement (hereinafter called "Agreement"); and

WHEREAS, Purchaser desires to acquire the Shares at $2.25 per
share for an aggregate of $50,000 pursuant to the terms and
conditions set forth in this Stock Purchase Agreement; and

WHEREAS, the Preferred Stock is presently held in escrow and
shall be released in accordance with the terms of that certain
Escrow Agreement dated as of February 12, 1997 (the "Shares
Escrow"); and

WHEREAS, the proceeds for the sale of the Shares shall be held
in escrow and released to JNE pursuant to the terms hereof and of
that certain Escrow Agreement of even date herewith (the "Proceeds
Escrow").

NOW THEREFORE, in consideration of the premises and
respective mutual agreements, covenants, representations and
warranties herein contained, it is agreed between the parties hereto
as follows:

                                      ARTICLE 1
                           SALE AND PURCHASE OF THE SHARES

1.1   Sale of the Shares.  At the date of the signing of this
Agreement as provided in Section 3.1 hereto (the "Closing"), subject
to the terms and conditions herein set forth, and on the basis of
the representations, warranties and agreements herein contained, JNE
shall sell to Purchaser and Purchaser shall purchase from JNE, the
Shares.

1.2   Instruments of Conveyance and Transfer.  At the Closing,
JNE shall instruct the Escrow Agent under the Shares Escrow to
deliver certificates of the Preferred Stock which are convertible
into the Shares to the transfer agent of JNE for transfer and
delivery to Purchaser, together with appropriate medallion
guaranteed stock powers, sufficient to convert the Preferred Stock
and transfer the Shares into Purchaser's name, in form and substance
satisfactory to Purchaser as shall be effective to vest in Purchaser
all right, title and interest in and to all of the Shares.  JNE

<PAGE>

shall provide an opinion of its counsel with respect to the
transferability of the Preferred Stock convertible into the Shares
to Purchaser in accordance with the terms of the Shares Escrow and
applicable state and federal securities laws.

1.3   Consideration.  On or before November 21, 1997, Purchaser
shall pay to the Escrow Agent by wire transfer (to the instructions
attached hereto as Exhibit A) under the Proceeds Escrow an aggregate
of $2.25 per share or an aggregate of $50,000.00.  The Escrow Agent
under the Proceeds Escrow shall immediately disburse 5% of such
funds to JNE and shall retain the balance to be disbursed in
accordance with the terms of the Proceeds Escrow.  The terms and
conditions of the Proceeds Escrow are incorporated herein by
reference.  In the event the Consideration is returned to Purchaser
in accordance with Section 3(f) of the Proceeds Escrow, this Stock
Purchase Agreement shall thereupon cease and Purchaser shall no
longer be entitled to receipt of the Shares.

                                       ARTICLE 2
                             REPRESENTATIONS AND WARRANTIES

2.1  Representations and Warranties of JNE. To induce
Purchaser to enter into this Agreement and to consummate the
transactions contemplated hereby, JNE represents and warrants, as of
the date hereof and as of the Closing, as follows:

2.1.1   Corporate Existence and Authority.  JNE is a
corporation duly organized, validly existing and in good standing
under the laws of the State of Colorado.  It has all requisite
corporate power, franchises, licenses, permits and authority to own
its properties and assets and to carry on its business as it has
been and is being conducted.  It is in good standing in each state,
nation or other jurisdiction in each state, nation or other
jurisdiction wherein the character of the business transacted by it
makes such qualification necessary.

2.1.2   Execution of Agreement.  The execution and delivery
of this Agreement does not, and the consummation of the transactions
contemplated hereby will not:  (a) violate, conflict with, modify or
cause any default under or acceleration of (or give any party any
right to declare any default or acceleration upon notice or passage
of time or both), in whole or in part, any charter, article of
incorporation, bylaw, mortgage, lien, deed of trust, indenture,
lease, agreement, instrument, order, injunction, decree, judgment,
law or any other restriction of any kind to which JNE is a party or
by which either of them or any of their properties are bound; (b)
result in the creation of any security interest, lien, encumbrance,
adverse claim, proscription or restriction on any property or asset
(whether real, personal, mixed, tangible or intangible), right,
contract, agreement or business of JNE; (c) violate any law, rule or
regulation of any federal or state regulatory agency; or (d) permit
any federal or state regulatory agency to impose any restrictions or
limitations of any nature on JNE or any of its actions.

2.2  Representations and Warranties of Purchaser.  To
induce JNE to enter into this Agreement and to consummate the
transactions contemplated hereby, Purchaser represents and warrants,
as of the date hereof and as of the Closing, as follows:

<PAGE>

2.2.1   Authority of Purchaser.  Purchaser has all requisite
power, corporate or otherwise, to enter into this Agreement and to
consummate the transactions contemplated hereunder.

2.2.2   Execution of Agreement.  The execution and delivery
of this Agreement does not, and the consummation of the transactions
contemplated hereby will not:  (a) violate, conflict with, modify or
cause any default under or acceleration of (or give any party any
right to declare any default or acceleration upon notice or passage
of time or both), in whole or in part, any charter, article of
incorporation, bylaw, mortgage, lien, deed of trust, indenture,
lease, agreement, instrument, order, injunction, decree, judgment,
law or any other restriction of any kind to which Purchaser is a
party or by which it or any of its properties are bound; (b) result
in the creation of any security interest, lien, encumbrance, adverse
claim, proscription or restriction on any property or asset (whether
real, personal, mixed, tangible or intangible), right, contract,
agreement or business of Purchaser; (c) violate any law, rule or
regulation of any federal or state regulatory agency; or (d) permit
any federal or state regulatory agency to impose any restrictions or
limitations of any nature on Purchaser or any of its actions.

                                     ARTICLE 3
                         CLOSING AND DELIVERY OF DOCUMENTS

3.1   Closing.  The Closing shall be deemed to have occurred as
of the date of signing of this Agreement.  Subsequent to the
signing, the following shall occur as a single integrated transaction:

3.2   Delivery by JNE:

(a)  JNE shall instruct the Escrow Agent for the Shares Escrow
to immediately deliver to the transfer agent of JNE for immediate
transfer to Purchaser the stock certificates representing the
Preferred Stock convertible into the Shares and all instruments of
conveyance and transfer required by Section 1.1.

(b)  JNE shall deliver to the transfer agent and the Purchaser
the opinion of its counsel as set forth in Section 1.2 hereof.

(c)  JNE shall deliver, or cause to be delivered, to Purchaser
such instruments, documents and certificates as are required to be
delivered by Purchaser or its representatives pursuant to the
provisions of this Agreement.

3.3  Delivery by Purchaser:

(a)  Purchaser shall deliver, or cause to be delivered, to the
Escrow Agent for the Proceeds Escrow the Consideration as required
by Section 1.3.

<PAGE>

(b)  Purchaser shall deliver, or cause to be delivered, to JNE
such instruments, documents and certificates as are required to be
delivered by Purchaser or its representatives pursuant to the
provisions of this Agreement.

                                      ARTICLE 4
                          TERMINATION, AMENDMENT AND WAIVER

4.1   Termination.  Notwithstanding anything to the
contrary contained in this Agreement, this Agreement may be
terminated and the transactions contemplated hereby may be abandoned
at any time prior to the Closing by the mutual consent of all of the
parties;

4.2   Waiver and Amendment.  Any term, provision, covenant,
representation, warranty or condition of this Agreement may be
waived, but only by a written instrument signed by the party
entitled to the benefits thereof.  The failure or delay of any party
at any time or times to require performance of any provision hereof
or to exercise its rights with respect to any provision hereof shall
in no manner operate as a waiver of or affect such party's right at
a later time to enforce the same.  No waiver by any party of any
condition, or of the breach of any term, provision, covenant,
representation or warranty contained in this Agreement, in any one
or more instances, shall be deemed to be or construed as a further
or continuing waiver of any such condition or breach or waiver of
any other condition or of the breach of any other term, provision,
covenant, representation or warranty.  No modification or amendment
of this Agreement shall be valid and binding unless it be in writing
and signed by all parties hereto.

                                      ARTICLE 5
                                    MISCELLANEOUS

5.1  Expenses.  Except as otherwise specifically provided
for herein, whether or not the transactions contemplated hereby are
consummated, each of the parties hereto shall bear all taxes of any
nature (including, without limitation, income, franchise, transfer
and sales taxes) and all fees and expenses relating to or arising
from its compliance with the various provisions of this Agreement
and such party's covenants to be performed hereunder, and except as
otherwise specifically provided for herein, each of the parties
hereto agrees to pay all of its own expenses (including, without
limitation, attorneys and accountants' fees and printing expenses)
incurred in connection with this Agreement, the transactions
contemplated hereby, the negotiations leading to the same and the
preparations made for carrying the same into effect, and all such
taxes, fees and expenses of the parties hereto shall be paid prior
to Closing.

5.2   Notices.  Any notice, request, instruction or other
document required by the terms of this Agreement, or deemed by any
of the parties hereto to be desirable, to be given to any other
party hereto shall be in writing and shall be given by prepaid
telegram or delivered or mailed by registered or certified mail,
postage prepaid, with return receipt requested, to the following
addresses:

TO JNE:

<PAGE>

Jones Naughton Entertainment, Inc.
5681 Beach Blvd., Suite 101
Buena Park, CA 90621-2045
Facsimile No.: 714-994-3242

with a copy to:

Law offices of M. Richard Cutler
610 Newport Center Drive, Suite 800
Newport Beach, CA 92660
Attn: M. Richard Cutler, Esq.
Facsimile No.: 714-719-1988

TO PURCHASER:

David Evans
c/o Snell & Wilmer
111 East Broadway, Suite 900
Salt Lake City, Utah 84111-1004
Facsimile No.: (801) 237-1950

The persons and addresses set forth above may be changed from
time to time by a notice sent as aforesaid.  If notice is given by
delivery in accordance with the provisions of this Section, said
notice shall be conclusively deemed given at the time of such
delivery.  If notice is given by mail in accordance with the
provisions of this Section, such notice shall be conclusively deemed
given forty-eight (48) hours after deposit thereof in the United
States mail.  If notice is given by telegraph in accordance with the
provisions of this Section, such notice shall be conclusively deemed
given at the time that the telegraphic agency shall confirm delivery
thereof to the addressee.

5.3  Entire Agreement.  This Agreement, together with the
Schedule and exhibits hereto, sets forth the entire agreement and
understanding of the parties hereto with respect to the transactions
contemplated hereby, and supersedes all prior agreements,
arrangements and understandings related to the subject matter
hereof.  No understanding, promise, inducement, statement of
intention, representation, warranty, covenant or condition, written
or oral, express or implied, whether by statute or otherwise, has
been made by any party hereto which is not embodied in this
Agreement, or in the Schedule 1 or exhibits hereto or the written
statements, certificates, or other documents delivered pursuant
hereto or in connection with the transactions contemplated hereby,
and no party hereto shall be bound by or liable for any alleged
understanding, promise, inducement, statement, representation,
warranty, covenant or condition not so set forth.

5.4  Survival of Representations.  All statements of fact
(including financial statements) contained in the Schedule, the
exhibits, the certificates or any other instrument delivered by or
on behalf of the parties hereto, or in connection with the
transactions contemplated hereby, shall be deemed representations
and warranties by the respective party hereunder.  All
representation, warranties agreements and covenants hereunder shall
survive the Closing and remain effective

<PAGE>

regardless of any investigation or audit at any time made by or on
behalf of the parties or of any information a party may have in respect
thereto.  Consummation of the transactions contemplated hereby shall not be
deemed or construed to be a waiver of any right or remedy possessed
by any party hereto, notwithstanding that such party knew or should
have known at the time of Closing that such right or remedy existed.

5.5  Remedies Cumulative.  No remedy herein conferred upon
Purchaser is intended to be exclusive of any other remedy and each
and every such remedy shall be cumulative and shall be in addition
to every other remedy given hereunder or now or hereafter existing
at law or in equity or by statute or otherwise.

5.6  Execution of Additional Documents.  Each party hereto
shall make, execute, acknowledge and deliver such other instruments
and documents, and take all such other actions as may be reasonably
required in order to effectuate the purposes of this Agreement and
to consummate the transactions contemplated hereby.

5.7  Finders' and Related Fees.  Each of the parties
hereto is responsible for, and shall indemnify the other against,
any claim by any third party to a fee, commission, bonus or other
remuneration arising by reason of any services alleged to have been
rendered to or at the instance of said party to this Agreement with
respect to this Agreement or to any of the transactions contemplated
hereby.

5.8  Governing Law.  This Agreement has been negotiated
and executed in the State of California and shall be construed and
enforced in accordance with the laws of such state.

5.9  Forum.  Each of the parties hereto agrees that any
action or suit which may be brought by any party hereto against any
other party hereto in connection with this Agreement or the
transactions contemplated hereby may be brought only in a federal or
state court in Orange County, California.

5.10  Binding Effect and Assignment.  This Agreement shall
inure to the benefit of and be binding upon the parties hereto and
their respective heirs, executors, administrators, legal
representatives and assigns.

5.11  Counterparts.  This Agreement may be executed in
counterparts, each of which shall be deemed an original, but all of
which together shall constitute one and the same instrument.  In
making proof of this Agreement, it shall not be necessary to produce
or account for more than one such counterpart.

<PAGE>

IN WITNESS WHEREOF, the parties hereto have executed this
Agreement, as of the date first written hereinabove.

JONES NAUGHTON ENTERTAINMENT, INC.

By:  /s/ Joseph Naughton
Joseph Naughton, Chief Executive Officer

PURCHASER

By:/s/David EvansESCROW AGREEMENT

THIS ESCROW AGREEMENT (the "Escrow Agreement") is entered
into as of this 17th day of November 1997 between JONES NAUGHTON
ENTERTAINMENT, INC., a Colorado corporation ("JNE"), David Evans
("Purchaser") and MRC LEGAL SERVICES CORPORATION dba the Law offices
of M. Richard Cutler, Esq., as escrow agent (the "Escrow Agent").

                                   R E C I T A L S

A.  As of October 2, 1996 JNE, AFSI, ANFS, Inc. a
Delaware corporation ("ANFS")  and Real Estate Television Network,
Inc., a Nevada corporation ("RETN") entered into an Agreement and
Plan of Reorganization (the "Agreement") providing for the
acquisition of RETN by AFSI through its wholly-owned subsidiary, ANFS.

B.  In connection with the transaction, AFSI issued to
JNE an aggregate of 1,000,000 shares of AFSI Series A Preferred
Stock (the "AFSI Stock"), which have been subsequently been reduced
to 400,000 shares as a result of a reverse stock split.  All of the
AFSI Stock is and has been held by the Escrow Agent pursuant to the
terms of an Escrow Agreement dated as of February 12, 1997.

C.  In accordance with the terms of that certain Stock
Purchase Agreement of even date herewith (the "Stock Purchase
Agreements"), JNE has agreed to sell to Purchaser 22,223 shares (the
"Shares") of unrestricted common stock upon the conversion of
certain of the shares of AFSI Stock.

D.  The parties hereto desire and the Escrow Agent has
agreed to hold the proceeds from the sale of the Shares (the "Cash
Consideration") and subsequently release such proceeds to JNE upon
the occurrence of certain events as set forth in this Escrow Agreement.

E.  Escrow Agent has agreed to act as the escrow agent
hereunder, in accordance with the terms and conditions set forth in
this Escrow Agreement.

NOW THEREFORE, for and in consideration of the foregoing and
of the mutual covenants and agreements hereinafter set forth, the
parties hereto hereby agree as follows:

1.  APPOINTMENT OF ESCROW AGENT.  JNE and Purchaser
(collectively, the "Parties") hereby mutually appoint and designate
the Escrow Agent to receive, hold and release, as escrow agent, the
Cash Consideration, and the Escrow Agent hereby accepts such
appointment and designation.

2.  ESCROW DELIVERY.  Upon closing of the transaction for
the sale of the Shares as set forth in the Stock Purchase Agreement,
Purchaser shall deliver the Cash Consideration to the Escrow Agent.

3.  CONDITIONS OF ESCROW.

<PAGE>

3.1  The Escrow Deposit.  Escrow Agent shall hold and
release the Cash Consideration as follows:

a.  From the date of Closing until the Share Unrestricted Date
(defined below), the Escrow Agent may release up to an additional 5%
of the Cash Consideration at the direction and request of JNE to
unrelated third parties for the purpose of completing the conversion
of the Preferred Stock to common stock of AFSI, the removal of any
restrictions on the transfer of such shares and any related actions
or other matters required to undertake the transactions contemplated
by the Stock Purchase Agreement (the "Unrestricted Share Reserve");

b.  Upon the date that the Purchaser receives the Shares without
restrictive legend (the "Share Unrestricted Date"), the Escrow Agent
shall release the balance of all Cash Consideration then in Escrow
to JNE (including, without limitation, any balance left of the
Unrestricted Share Reserve");

c.  The Escrow Agent may release the Cash Consideration to JNE or
Purchaser, as the case may be, pursuant to joint written
instructions executed by JNE and Purchaser;

d.  The Escrow Agent may release the Cash Consideration to JNE or
Purchaser, as the case may be, pursuant to any "final order" of a
court of competent jurisdiction, any such order being deemed to be
"final" if (i) such order has not been reserved, stayed, enjoined,
set aside, annulled or suspended, (ii) no request for a stay,
suspension or an injunction, petition for reconsideration or appeal,
or sua sponte action with comparable effect is pending with respect
to the order, and (iii) the time for filing any such request,
petition or appeal or further taking of any such sua sponte action
has expired; or

e.  The Escrow Agent shall release the balance of the Cash
Consideration (less the full Unrestricted Share Reserve) upon
written notice by Purchaser if the Share Unrestricted Date has not
occurred on or before the later of March 31, 1998 or the date of
such notice by Purchaser.  Upon such event, the Escrow Agent shall
also notify Purchaser and JNE that the Stock Purchase Agreement has
terminated and that Purchaser is no longer entitled to receipt of
the Shares.

f.  Conflicting Instructions.  If a bona fide controversy arises
between the Parties concerning the release of the Cash
Consideration, the Escrow Agent may submit such controversy for
resolution by joint written instructions of the parties or by order
of a court of competent jurisdiction.  If a suit is commenced
against the Escrow Agent, it may answer by way of interpleader and
name JNE and Purchaser as additional parties to such action, and the
Escrow Agent may tender the Cash Consideration into such court for
determination of the respective rights, titles and interests of the
Parties.  Upon such tender, the Escrow Agent shall be entitled to
receive from the Parties its reasonable attorneys' fees and expenses
incurred in connection with said interpleader action or in any
related action or suit.  As between JNE and Purchaser, such fees,
expenses and other sums shall be paid by the party which fails to
prevail in the proceedings brought to determine the appropriate
distribution

<PAGE>

of the Cash Consideration. If and when the Escrow Agent
shall so interplead such Parties, or either of them, and deliver the
Cash Consideration to the clerk of such court, all of its duties
hereunder shall cease, and it shall have no further obligation in
this regard.  Nothing herein shall prejudice any right or remedy of
the Escrow Agent.

4.  CONCERNING ESCROW AGENT

4.1  Duties.  Escrow Agent undertakes to perform all
duties which are expressly set forth herein; provided, however, that
the Escrow Agent shall not be required to make or be liable in any
manner for its failure to make any determination under the Agreement
or any other agreement, including whether any of JNE or the
Purchaser is entitled to delivery of the Cash Consideration under
the Agreement.

4.2  Indemnification.

a.   Escrow Agent may rely upon and shall be protected in acting
or refraining from acting upon any written notice, instructions or
request furnished to it hereunder and reasonably believed by it to
be genuine and authorized.

b.   Escrow Agent shall not be liable for any action taken by it
in good faith and without gross negligence or wilful misconduct, and
believed by it to be authorized or within the rights or powers
conferred upon it by this Escrow Agreement, and may consult with
counsel of its own choice and shall have full and complete
authorization and protection for any action taken or suffered by it
hereunder in good faith and in accordance with the opinion of such
counsel.

c.   JNE and Purchaser hereby jointly and severally agree to
indemnify the Escrow Agent for, and hold the Escrow Agent harmless
against, any loss, liability or expense incurred without gross
negligence or wilful misconduct or bad faith on the part of the
Escrow Agent, arising out of or in connection with the Escrow
Agent's entering into this Escrow Agreement and carrying out the
Escrow Agent's duties hereunder, including, without limitation,
costs and expenses of defending the Escrow Agent against any claim
or liability with respect thereto.

d.  Escrow Agent shall have no implied obligations or
responsibilities hereunder, nor shall it have any obligation or
responsibility to collect funds or seek the deposit of money or
property.

4.3  Other Matters.  Escrow Agent (and any successor
escrow agent or agents) reserves the right to resign as the Escrow
Agent at any time, provided fifteen (15) days' prior written notice
is given to the other parties hereto, and provided further that a
mutually acceptable successor escrow agent(s) agrees in writing to
serve as escrow agent hereunder within such fifteen (15)-day period.
 The Escrow Agent may petition any court in the State of California
having jurisdiction to designate a successor Escrow Agent.  The
resignation of the Escrow Agent (and any successor escrow agent or
agents) shall be effective only upon delivery of the Cash
Consideration then in

<PAGE>

Escrow to the successor escrow agent(s).  The Parties reserve the right
to jointly remove the Escrow Agent at any time, provided fifteen (15) days'
prior written notice is given to the Escrow Agent.  In the event of
litigation or dispute by the Parties in which the performance of the duties
of the Escrow Agent is at issue, the Escrow Agent shall take no action
until such action is agreed in writing by the Parties, or until receipt of
any final order by a court of competent jurisdiction directing the Escrow
Agent to take such action.

5.  TERMINATION.   This Escrow Agreement shall be
terminated upon the release of the Cash Consideration in accordance
with the terms and conditions hereof, or otherwise by written mutual
consent signed by all parties hereto.

6.  NOTICE. All notices, demands, requests, or other
communications which may be or are required to be given, served or
sent by any party to any other party pursuant to this Escrow
Agreement shall be in writing and shall be hand delivered (including
delivery by courier) or mailed by first-class, registered or
certified mail, return receipt requested, postage prepaid, addressed
as follows:

IF TO JNE:

Jones Naughton Entertainment, Inc.
5681 Beach Blvd., Suite 101
Buena Park, CA 90621-2045
Attn: Joe Naughton, President
Facsimile No.: 714-994-3242

IF TO PURCHASER:

David Evans
c/o Snell & Wilmer
111 East Broadway, Suite 900
Salt Lake City, Utah 84111-1004
Facsimile No.: (801) 237-1950

IF TO THE ESCROW AGENT:

Law Offices of M. Richard Cutler, Esq.
610 Newport Center Drive, Suite 800
Newport Beach, CA 92660
Attn: M. Richard Cutler, Esq.
Facsimile No.: 714-719-1988

or such other address as the addressee may indicate by written
notice to the other parties.  Each notice, demand, request or
communication which shall be given or made in the manner described
above shall be deemed sufficiently given or made for all purposes at
such time as it delivered to the addressee (with the return receipt,
the delivery receipt or the affidavit of messenger being deemed

<PAGE>

conclusive but not exclusive evidence of such delivery) or at such
time as delivery is refused by the addressee upon presentation.

7.  BENEFIT AND ASSIGNMENT.  This Escrow Agreement shall
be binding upon and shall inure to the benefit of the parties hereto
and their respective successors and assigns as permitted hereunder.
No person or entity other than the parties hereto is or shall be
entitled to bring any action to enforce any provision in this Escrow
Agreement against any of the parties hereto, and the covenants and
agreements set forth in this Escrow Agreement shall be solely for
the benefit of, and shall be enforceable only by, the parties hereto
or their respective successors and assigns this Escrow Agreement or
any rights hereunder without the prior written consent of the
parties hereto.

8.  ENTIRE AGREEMENT; AMENDMENT. This Escrow Agreement
contains the entire agreement among the parties with respect to the
subject matter hereof and supersedes all prior oral or written
agreements, commitments or understandings with respect to such
matters.  This Escrow Agreement may not be changed orally, but only
by an instrument in writing signed by the party against whom
enforcement of any waiver, change, modification, extension or
discharge is sought.

9.  HEADINGS.  The headings of the sections and
subsections contained in this Escrow Agreement are inserted for
convenience only and do not form a part or affect the meaning,
construction or scope thereof.

10.  GOVERNING LAW; VENUE.  This Escrow Agreement shall be
governed and constructed under and in accordance with the laws of
the State of California (but not including the conflicts of laws and
rules thereof).  For purposes of any action or proceeding involving
this Escrow Agreement each of the parties to this Escrow Agreement
expressly submits to the jurisdiction of the federal and state
courts located in the State of California and consents to the
service of any process or paper by registered mail or by personal
service within or without the State of California in accordance with
applicable law, provided a reasonable time for appearance is allowed.

11.  SIGNATURE IN COUNTERPARTS.  This Escrow Agreement may
be executed in separate counterparts, none of which need contain the
signature of all parties, each of which shall be deemed to be an
original and all of which taken together constitute one and the same
instrument.  It shall not be necessary in making proof of this
Escrow Agreement to produce or account for more than the number of
counterparts containing the respective signatures of, or on behalf
of, all of the parties hereto.

12.  ATTORNEY'S FEES.  Should any action be commenced
between the parties to this Agreement concerning the matters set
forth in this Agreement or the right and duties of either in
relation thereto, the prevailing party in such action shall be
entitled, in addition to such other relief as may be granted, to a
reasonable sum as and for its Attorney's Fees and Costs.

13.  FEES AND EXPENSES OF ESCROW AGENT.  Except as may
otherwise be provided herein, all fees of the Escrow Agent hereunder
shall be paid by JNE.

<PAGE>

IN WITNESS WHEREOF, each of the parties has caused this
Escrow Agreement to be duly executed and delivered in its name and
on its behalf, all as of the date and year first above written.

JONES NAUGHTON ENTERTAINMENT, INC.
a Colorado corporation ("JNE")

By:  /s/ Joe Naughton
Joe Naughton, President

PURCHASER

By:  /s/David Evans

MRC LEGAL SERVICES CORPORATION, a California corporation
dba The Law Offices of M. Richard Cutler, Esq. ("ESCROW AGENT")

By:  /s/ M. Richard Cutler
       M. Richard Cutler, President

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