Document:

THESE  SECURITIES  HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED  (THE  "ACT"),  OR  THE  SECURITIES  LAWS  OF  ANY  STATE AND MAY NOT BE
TRANSFERRED  WITHOUT  REGISTRATION  UNDER THE ACT OR STATE SECURITIES LAWS OR AN
EXEMPTION  THEREFROM.
                                     FORM OF
                    ADDITIONAL COMMON STOCK PURCHASE WARRANT
                                       OF
                                  ABC-NACO INC.

No.  _____     Certificate  for  _____________  Warrant  Shares

     ABC-NACO  INC.,  a  Delaware  corporation (the "Company"), hereby certifies
that  ______________________, or assigns, is the holder of the warrant set forth
above  (the  "Warrant").  The  Warrant entitles the holder thereof (a "Holder"),
subject  to  the provisions contained herein, to purchase from the Company up to
the aggregate number of shares of common stock, par value $.01 per share, of the
Company ("Common Stock") set forth above (the "Warrant Shares"), at the exercise
price  of  $.01 per share (the "Exercise Price"), subject to adjustment upon the
occurrence of certain events described hereinafter.  The Warrant shall terminate
and become void as of 5:00 p.m., Chicago time, on June 25, 2011 (the "Expiration
Date").
1.     Do  not  Remove.
     This  Warrant is issued under and in accordance with the Series C Preferred
Stock  and  Common  Stock Warrant Purchase Agreement, dated as of April 17, 2001
(the  "Stock  Purchase  Agreement"), between the Company and the Investors named
therein.
The  Exercise  Price  and the number of shares of Common Stock issuable upon the
exercise  of  the  Warrant  are subject to adjustment as provided hereinafter in
Section  2.
All  shares  of  Common  Stock  issuable by the Company upon the exercise of the
Warrant shall, upon such issuance, be duly and validly issued and fully paid and
non-assessable.
     1.1.          Exercise  Period.
     (a)     This  Warrant  shall  become exercisable for such number of Warrant
Shares  as  follows:
     (i)     On  July  1, 2001, for ______________ Warrant Shares, if EBITDA for
the twelve (12) months ended June 30, 2001, is less than Seventy Million Dollars
($70,000,000)  and  no  Sale  of  the Company has occurred on or before June 30,
2001;
(ii)     On  October  1,  2001,  for  an additional _________ Warrant Shares, if
EBITDA for the twelve (12) months ended September 30, 2001, is less than Seventy
Million  Dollars  ($70,000,000)  and  no  Sale of the Company has occurred on or
before  September  30,  2001;
(iii)     On  January 1, 2002, for an additional ____________ Warrant Shares, if
EBITDA  for the twelve (12) months ended December 31, 2001, is less than Seventy
Million  Dollars  ($70,000,000)  and  no  Sale of the Company has occurred on or
before  December  31,  2001;
(iv)     On  April  1,  2002,  for an additional ____________ Warrant Shares, if
EBITDA  for  the  twelve  (12) months ended March 31, 2002, is less than Seventy
Million  Dollars  ($70,000,000)  and  no  Sale of the Company has occurred on or
before  March  31,  2002;
(v)     On  July  1, 2002, for an additional _________ Warrant Shares, if EBITDA
for  the  twelve  (12)  months  ended June 30 2002, is less than Seventy Million
Dollars  ($70,000,000) and no Sale of the Company has occurred on or before June
30,  2002;
(vi)     On  October  1, 2002, for an additional ____________ Warrant Shares, if
EBITDA for the twelve (12) months ended September 30, 2002, is less than Seventy
Million  Dollars  ($70,000,000)  and  no  Sale of the Company has occurred on or
before  September  30,  2002;
(vii)     On  January  1,  2003, for an additional __________ Warrant Shares, if
EBITDA  for the twelve (12) months ended December 31, 2002, is less than Seventy
Million  Dollars  ($70,000,000)  and  no  Sale of the Company has occurred on or
before  December  31,  2002;  and
(viii)     On  April 1, 2003, for an additional _____________ Warrant Shares, if
EBITDA  for  the  twelve  (12) months ended March 31, 2003, is less than Seventy
Million  Dollars  ($70,000,000)  and  no  Sale of the Company has occurred on or
before  March  31,  2003.
     (b)     For  purposes  of this Section 1.1, the following terms are defined
as  set  forth  below:
     (i)     "EBITDA"  of  a  period  shall mean the sum of (a) consolidated net
income  for  such  period,  plus  (b)  provision for income taxes of the Company
during  such  period,  plus  (c)  depreciation  and  amortization expense of the
Company  accrued  during  such  period  (but  only to the extent not included in
interest  expense), plus (d) net interest expense during such period, determined
in  accordance  with  U.S. generally accepted accounting principles in effect of
the  date  of  original  issuance of this Warrant, as reflected on the Company's
financial  statements  filed  periodically  with  the  Securities  and  Exchange
Commission  in  accordance  with  the  Exchange  Act.
(ii)     "Exchange  Act"  shall  mean  the  Securities  Exchange Act of 1934, as
amended  and  the  rules  and  regulations  promulgated  thereunder.
(iii)     "Marketable Securities" shall mean that (A) such securities are listed
for  trading  on the New York Stock Exchange, the American Stock Exchange or the
NASDAQ  (as  defined  in  Section  1.4 below); (B) the average closing price per
share  of such securities is at least Ten Dollars ($10.00) per share (determined
during  the  twenty  (20)  trading  days  immediately preceding the first public
announcement  of the Sale of the Company); and (C) the average trading volume of
such  securities  is  at  least  100,000  shares per trading day, as reported by
Bloomberg,  during  the  sixty (60) trading day period immediately preceding the
first  public  announcement  of  the  Sale  of  the  Company.
(iv)     "Person"  shall  mean  and  include  an  individual,  a  corporation, a
partnership,  a  trust,  an  unincorporated organization and a government or any
department,  agency  or  political  subdivision  thereof.
     (v)     "Sale  of  the  Company"  shall  mean  (A)  the sale, conveyance or
disposition  of  all  of  the  equity  interests in the Company or (B) the sale,
conveyance  or  disposition  of  all  or  substantially all of the assets of the
Company  and  its  Subsidiaries  on a consolidated basis (other than to a wholly
owned Subsidiary of the Company or a pledge or grant of a security interest to a
bona  fide  lender),  in  either  case  for  cash  or  Marketable  Securities.

     (vi)     "Subsidiaries" shall mean, when used with reference to a Person, a
corporation or limited liability company, the majority of the outstanding voting
securities  or membership interests of which are owned directly or indirectly by
such  Person.

     (c)     Within  30  days  of  the  end of each calendar quarter referred to
above in Section 1.1(a), the Company shall deliver to the Holder of this Warrant
a  written statement setting forth in reasonable detail the actual EBITDA of the
Company  for  the  twelve  month  period  ending  on the date that such calendar
quarter  ends.
     1.2.          Exercise  Procedure.  In  order  to exercise the Warrant, the
Holder  hereof  must  surrender the Warrant at the office of the Company, at 335
Eisenhower  Lane  South,  Lombard, Illinois 60148, Attention: Secretary, or such
other  address  as  the  Company  may  specify  by written notice to the  Holder
hereof,  with  the  Exercise Subscription Form attached hereto as Exhibit A duly
executed by the Holder hereof, together with any required payment in full of the
Exercise Price then in effect for the Warrant Shares, as to which the Warrant is
submitted  for  exercise,  all  subject to the terms and conditions hereof.  Any
such  payment  of  the  Exercise  Price  shall be in cash (except as provided in
Section  1.4 hereof), payable to the order of the Company, by bank check or wire
transfer  of  an  amount  equal  to  the  applicable  Exercise  Price.
1.3.          Partial Exercise.  This Warrant may be exercised for less than the
aggregate  number  of Warrant Shares, in which case the number of Warrant Shares
receivable  upon  the  exercise  of this Warrant as a whole, and the sum payable
upon  the exercise of this Warrant as a whole, shall be proportionately reduced.
Upon any such partial exercise, the Company, at is expense shall forthwith issue
to  the  Holder  hereof  a new Warrant or Warrants of like tenor calling for the
number  of  remaining Warrant Shares as to which rights have not been exercised,
such  Warrant  or  Warrants to be issued in the name of the holder hereof or its
nominee  (upon  payment  by  such  holder  of  any  applicable  transfer taxes).
     1.4.          Net  Issue  Exercise.
     (a)     In  lieu of paying the Exercise Price in cash, the Holder may elect
to  pay  the  Exercise Price with Warrant Shares by surrender of this Warrant at
the  principal  office  of the Company together with notice of such election, in
which  event the Company shall issue to the Holder that number of Warrant Shares
computed  using  the  following  formula:

                               [GRAPHIC  OMITED]

Where
X     is  the  number  of Warrant Shares to be issued to Holder pursuant to this
Section  1.4;
Y     is  the  number  of  Warrant  Shares as to which Holder is exercising this
Warrant;
A     is  the  Fair Market Value Price (as hereinafter defined) of the Company's
Common  Stock  in  effect  under this Warrant as of the date of exercise of this
Warrant;  and
     B     is  the Exercise Price in effect under this Warrant as of the date of
exercise  of  this  Warrant.
     (b)     As  used  herein,  the  "Fair  Market Value Price" of the Company's
Common  Stock  shall  be  the  average  of  the  closing prices per share of the
Company's  Common Stock as reported by the Nasdaq National Market ("NASDAQ") (or
on any exchange on which Common Stock is listed) or, if there is no such closing
price,  the  average  of  the  closing  bid  and  asked  prices  quoted  in  the
Over-The-Counter  Market  Summary,  whichever is applicable, as published in the
Eastern  Edition  of  The  Wall  Street  Journal  for  the ten (10) trading days
immediately  prior to the date of determination of such price.  If the Company's
Common  Stock  is  not traded on NASDAQ (or other exchange) or Over-The-Counter,
the  "Fair  Market Value Price" of the Company's Common Stock shall be the price
per  share  as  determined  in  good  faith by the Company's Board of Directors.
     1.5.          Expenses  in Connection with Exercise.  The Company shall pay
all  taxes  and other governmental charges that may be imposed on the Company or
on the Warrant or on the Warrant Shares or any other securities deliverable upon
exercise of the Warrant.  The Company shall not be required, however, to pay any
tax  or  other  charge  imposed  in connection with any transfer involved in the
issue  of  any  certificate  for  shares  of  Common  Stock  or other securities
underlying the Warrant or payment of cash to any person other than the Holder of
the  Warrant  surrendered  upon  the  exercise of a Warrant, and in case of such
transfer  or  payment,  the  Company  shall  not  be required to issue any stock
certificate  or  pay any cash until such tax or other charge has been paid or it
has  been  established  to  the Company's satisfaction that no such tax or other
charge  is  due.

2.     Do  not  Remove.

     2.1.          Adjustments.  The  number  of  Warrant  Shares  issuable upon
exercise  of  the Warrant  and the Exercise Price shall be subject to adjustment
from  time  to  time  as  follows:
     (a)     Adjustment  for  Dividends  in  Other  Stock,  Property,  etc.;
Reclassification,  etc.  In  case  the  holders  of  Common  Stock (or any Other
Securities,  as  defined  below)  have received, or (on or after the record date
fixed  for  the  determination  of stockholders eligible to receive) have become
entitled  to  receive,  without  payment  therefor,
     (i)     other  or  additional  stock or other securities or property (other
than  cash)  by  way  of  dividend,  or
(ii)     any  cash  (excluding  cash dividends payable solely out of earnings or
earned  surplus  of  the  Company),  or
(iii)     other  or  additional stock or other securities or property (including
cash)  by  way  of  spin-off,  split-up,  reclassification,  recapitalization,
combination  of  shares  or  similar  corporate  rearrangement, or any merger or
consolidation or the sale, conveyance or disposition of a majority of the assets
of  the  Company  and  its Subsidiaries on a consolidated basis (other than to a
wholly  owned  Subsidiary  of  the  Company),
other  than  additional shares of Common Stock (or Other Securities) issued as a
stock dividend or in a stock-split (adjustments in respect of which are provided
for  in  Section 2.1(b)), then and in each such case the Holder will be entitled
to receive the amount of stock and other securities and property (including cash
in  the cases referred to in subdivisions (ii) and (iii) of this Section 2.1(a))
that such Holder would be entitled to receive on the date of such exercise if on
the  date  hereof,  such  Holder  had been the holder of record of the number of
shares  of  Common  Stock  called  for  on  the  face  of  this  Warrant and had
thereafter,  during the period from the date hereof up to and including the date
of  such  exercise,  retained such shares and all such other or additional stock
and  other  securities  and property (including cash in the cases referred to in
clauses  (ii)  and  (iii)  of  this Section 2.1(a)) receivable by such Holder as
aforesaid during such period, giving effect to all adjustments called for during
such period by Section 2.1(b).  The term "Other Securities" means stock or other
securities  of  the Company or any other Person (i) which the Holder at any time
shall  be  entitled  to receive, or shall have received, on the exercise of this
Warrant,  in  lieu  of or in addition to Common Stock, or (ii) which at any time
shall be issuable or shall have been issued in exchange for or in replacement of
Common  Stock  or  such  other stock or securities pursuant to the terms hereof.

     (b)     Adjustment  for  Stock  Dividend, Stock Split, etc.  If the Company
(i) issues additional shares of Common Stock as a dividend or other distribution
on outstanding shares of Common Stock, (ii) subdivides its outstanding shares of
Common  Stock,  (iii)  combines  its  outstanding  shares of Common Stock into a
smaller  number  of  shares  of  Common Stock, and then, in each such event, the
number  of  Warrant  Shares  issuable  upon exercise of this Warrant immediately
prior to the record date for such dividend or distribution or the effective date
of  such  subdivision  or  combination  shall  be  adjusted,  and  thereafter
simultaneously  with  such  event,  the  Exercise  Price  shall  be  adjusted by
multiplying  the  current  Exercise  Price by a fraction, the numerator of which
will  be  the  number of shares of Common Stock outstanding immediately prior to
such  event  and the denominator of which will be the number of shares of Common
Stock outstanding immediately after such event, and the product so obtained will
thereafter  be  the Exercise Price then in effect; provided, however, that in no
event shall the Exercise Price of this Warrant be adjusted downward to an amount
that  is  below  the  then current par value of the Common Stock.  An adjustment
made  pursuant  to  this Section 2.1(b) shall become effective immediately after
the  effective  date  of  such event retroactive to the record date, if any, for
such  event.
(c)     Notices  of  Record  Date,  etc.  In  the  event  of:
     (i)     any  taking  by the Company of a record of the holders of any class
of  securities  for  the  purpose  of  determining  the  holders thereof who are
entitled  to  receive  any  dividend  or  other  distribution,  or  any right to
subscribe for, purchase or otherwise acquire any shares of stock of any class or
any  other  securities  or  property,  or  to  receive  any  other  right,  or
(ii)     any  capital  reorganization  of  the  Company, any reclassification or
recapitalization  of the capital stock of the Company or any sale of the Company
(whether by sale of stock, merger, consolidation or sale of all or substantially
all  the  assets  of  the  Company  or  otherwise),  or
(iii)     any voluntary or involuntary dissolution, liquidation or winding-up of
the  Company,
then  and  in each such event the Company will mail or cause to be mailed to the
Holder  a notice specifying (A) the date on which any such record is to be taken
for  the purpose of such dividend, distribution or right, and stating the amount
and character of such dividend, distribution or right, and (B) the date on which
any  such  reorganization,  reclassification,  recapitalization,  transfer,
consolidation,  merger, dissolution, liquidation or winding-up is to take place,
and the time, if any is to be fixed, as of which the holders of record of Common
Stock  (or Other Securities) will be entitled to exchange their shares of Common
Stock (or Other Securities) for securities or other property deliverable on such
reorganization,  reclassification,  recapitalization,  transfer,  consolidation,
merger,  dissolution,  liquidation or winding-up.  Such notice will be mailed at
least ten (10) Business Days prior to the date specified in such notice on which
any  such  action is to be taken.  For purposes of this Warrant, the term "Other
Securities"  shall  mean  stock  or other securities of the Company or any other
entity  (corporate  or  otherwise)  (i)  which  the  Holder at any time shall be
entitled to receive, or shall have received, on the exercise of this Warrant, in
lieu  of  or  in  addition  to  Common Stock, or (ii) which at any time shall be
issuable  or  shall have been issued in exchange for or in replacement of Common
Stock  or  such  other stock or securities pursuant to the terms hereof; and the
term  "Business Day" shall mean any day other than Saturday, Sunday or other day
in which commercial money center banks in New York City, New York are closed for
business.

     (d)     De  Minimis  Adjustments.  No adjustment in the number of shares of
Common  Stock  issuable hereunder shall be required unless such adjustment would
require  an  increase  or decrease of at least one-tenth of one percent (.1%) in
the  number  of  shares  of  Common  Stock  purchasable upon an exercise of each
Warrant; provided, however, that any adjustments which by reason of this Section
2.1(d)  are  not  required  to  be  made shall be carried forward and taken into
account  in  any  subsequent  adjustment.  All calculations shall be made to the
nearest  one  one-thousandth  (1/1,000)  of  a  share.
(e)     Effective  Date  for  Adjustment.  For purposes of any adjustment to the
number  of  Warrant  Shares  issuable to the Holder, the exercise of the Warrant
shall  be  deemed  to  have  occurred on the first day immediately following the
conclusion  of  each  quarterly  exercise  period  ending  on March 31, June 30,
September  30  and  December  31  as  set  forth  in  Section  1.
     2.2.          Officers'  Statement  as to Adjustments.  Whenever the number
of  Warrant Shares or other stock or property issuable upon the exercise of this
Warrant  or  the  Exercise Price shall be adjusted as provided in Section 2.1(a)
and Section 2.1(b) hereof, respectively, the Company shall forthwith (i) file at
each  office  designated for the exercise of this Warrant a statement, signed by
the  Chairman of the Board, the President, or any Vice President or Treasurer of
the Company, and (ii) provide written notice, sent by mail, first class, postage
prepaid,  to  the  record Holder of this Warrant at its address appearing on the
stock  register,  in  each case showing in reasonable detail the facts requiring
such  adjustment  and  the  computation  by  which  such  adjustments were made.
2.3.          Fractional  Interest.  The  Company may, but shall not be required
to,  issue  fractional  shares  of Common Stock on the exercise of Warrants.  If
more  than  one Warrant shall be presented for exercise in full at the same time
by  the  same  Holder,  the number of full shares of Common Stock which shall be
issuable  upon  such  exercise  thereof  shall  be  computed on the basis of the
aggregate  number  of  shares  of  Common  Stock  acquirable  on exercise of the
Warrants so presented.  If any fraction of a share of Common Stock would, except
for  the  provisions  of  this  Section  2.3  be issuable on the exercise of any
Warrant (or specified portion thereof), the Company may, in lieu thereof, pay an
amount in cash calculated by it to be equal to the then current market value per
share  of  Common Stock (as determined by the Board of Directors)  multiplied by
such fraction computed to the nearest whole cent; provided, however, that in the
event  the  Company  is unable or is not permitted under applicable law or under
any  applicable  financing  agreements  to  pay such amount in cash, the Company
shall  issue  fractional shares rounded to the nearest one one-hundredth (1/100)
of  a  share.

     2.4.          Adjustment  by Board of Directors.  If any event occurs as to
which  the  provisions of Section 2.1 are not strictly applicable or if strictly
applicable  would not fairly protect the rights of the Holder of this Warrant in
accordance with the essential intent and principles of such provisions, then the
Board  of  Directors  shall  make  an  adjustment  in  the  application  of such
provisions,  in  accordance  with such essential intent and principles, so as to
protect  such rights as aforesaid, but in no event shall any adjustment have the
effect  of increasing the Exercise Price as otherwise determined pursuant to any
of  the  provisions of Section 2.1 except in the case of a combination of shares
of  a  type  contemplated  in  Section  2.1(a) and then in no event to an amount
larger  than  the  Exercise  Price  as  adjusted  pursuant  to  Section  2.1(b).
3.     Do  not  Remove.

     3.1.          Exchange  of  Warrant.  At  the  option  of  the  Holder, the
Warrant  may  be  exchanged  at  such  office,  and  upon payment of the charges
hereinafter  provided.  Whenever the Warrant is so surrendered for exchange, the
Company  shall  execute  and  deliver  the  Warrant  that  the Holder making the
exchange  is  entitled  to  receive.
3.2.          Company's  Obligations.  A Warrant issued upon any registration of
transfer  or  exchange  of  the  Warrant  shall  be the valid obligations of the
Company,  evidencing  the  same  obligations,  and entitled to the same benefits
under this Warrant, as the Warrant surrendered for such registration of transfer
or  exchange.
3.3.          Evidence  of Transfer or Assignment.  This Warrant, if surrendered
for  registration  of transfer or exchange shall (if so required by the Company)
be  duly endorsed, or be accompanied by a written instrument of transfer in form
attached  hereto  as  Exhibit  B,  duly  executed  by the Holder thereof or such
Holder's  attorney  duly  authorized  in  writing.
3.4.          Delivery  of  Stock  Certificates  on  Exercise.  As  soon  as
practicable  after  the  exercise  of  this  Warrant and payment of the Exercise
Price,  and  in any event within ten (10) Business Days thereafter, the Company,
at  its  expense,  will  cause  to be issued in the name of and delivered to the
holder  hereof  a  certificate  or certificates for the number of fully paid and
non-assessable shares or other securities or property to which such holder shall
be  entitled  upon such exercise, plus, in lieu of any fractional share to which
such  holder  would  otherwise  be  entitled,  cash  in  an amount determined in
accordance  with  Section  2.3  hereof.  The  Company  agrees that the shares so
purchased  shall be deemed to be issued to the holder hereof as the record owner
of  such  shares  as  of the close of business on the date on which this Warrant
shall  have  been  surrendered  and  payment  made for such shares as aforesaid.
     3.5.          No  Charges.  No  service  charge  shall  be  made  for  any
registration  of  transfer  or  exchange  of  the  Warrant.
4.     Do  not  Remove.

     4.1.          No  Voting  Rights.  Prior to the exercise of the Warrant, no
Holder  of  this  Warrant,  as  such,  shall  be  entitled  to  any  rights of a
stockholder of the Company, including, without limitation, the right to vote, to
consent,  to exercise any preemptive right, to receive any notice of meetings of
stockholders for the election of directors of the Company or any other matter or
to  receive  any  notice  of  any  proceedings  of the Company, except as may be
specifically  provided  for  herein.
     4.2.          Right  of  Action  and  Remedies.  All  rights  of  action in
respect  of this Warrant are vested in the Holder of the Warrant, and any Holder
of  the  Warrant  or  the Holder of any other Warrant, may, in such Holder's own
behalf  and  for  such  Holder's  own  benefit,  enforce,  and may institute and
maintain any suit, action or proceeding against the Company suitable to enforce,
or  otherwise in respect of, such Holder's right to exercise, exchange or tender
for  purchase  such Holder's Warrant in the manner provided herein.  The Company
stipulates  that  the remedies at law of the holder of this Warrant in the event
of  any  default  by the Company in the performance of or compliance with any of
the  terms  of  this Warrant are not and will not be adequate, and that the same
may  be  specifically  enforced.
5.     Do  not  Remove.

     5.1.          Surrender  of Warrant.  A Warrant surrendered for exercise or
redemption  shall,  if  surrendered to the Company shall be promptly canceled by
the Company and shall not be reissued by the Company.  The Company shall destroy
such  each  canceled  Warrant.
5.2.          Mutilated,  Destroyed,  Lost  and  Stolen  Warrants.
     (a)     If  (i)  a  mutilated Warrant is surrendered to the Company or (ii)
the Company receives evidence to its reasonable satisfaction of the destruction,
loss  or  theft  of  the  Warrant,  and  there  is delivered to the Company such
security or indemnity as may be required by it to save it harmless, then, in the
absence  of  notice to the Company that such Warrant has been acquired by a bona
fide  purchaser, the Company shall execute and deliver, in exchange for any such
mutilated  Warrant  or  in lieu of any such destroyed, lost or stolen Warrant, a
new  Warrant  of  like  tenor and for a like aggregate number of Warrant Shares.
(b)     Upon the issuance of any new Warrant under this Section 5.2, the Company
may  require  the  payment  of  a  sum  sufficient  to  cover  any  tax or other
governmental  charge  that may be imposed in relation thereto and other expenses
(including the reasonable fees and expenses of the Company and of counsel to the
Company)  in  connection  therewith.
(c)     A  new  Warrant  executed  and delivered pursuant to this Section 5.2 in
lieu  of  any  destroyed,  lost  or  stolen Warrant shall constitute an original
contractual  obligation  of  the  Company, whether or not the destroyed, lost or
stolen Warrant shall be at any time enforceable by anyone, and shall be entitled
to  the  benefits  of  this Warrant equally and proportionately with any and all
other  Warrants  duly  executed  and  delivered  hereunder.
(d)     The  provisions of this Section 5.2 are exclusive and shall preclude (to
the  extent lawful) all other rights or remedies with respect to the replacement
of  mutilated,  destroyed,  lost  or  stolen  Warrants.
     5.3.          Notices.  (a) Except as otherwise provided in Section 5.3(b),
any  notice, demand or delivery authorized by this Warrant shall be sufficiently
given  or  made  when mailed if sent by first-class mail, postage prepaid, or by
facsimile,  addressed  to  any Holder of the Warrant at such Holder's address or
facsimile  number  shown  on  the  register of the Company and to the Company as
follows:
If  to  the  Company:

ABC-NACO  INC.
335  Eisenhower  Lane  South
Lombard,  IL  60148
Attention:  Secretary

or such other address as shall have been furnished to the party giving or making
such  notice,  demand  or  delivery.
     (a)     Hidden  text  do  not  remove
(b)     Any  notice  required  to be given by the Company to the Holder shall be
made by mailing by registered mail, return receipt requested, or by facsimile to
the  Holders at their respective addresses shown on the register of the Company.
Any  notice  that  is mailed or sent via facsimile in the manner herein provided
shall  be  conclusively  presumed  to  have  been  duly  given  when  mailed  or
transmitted,  whether  or  not  the  Holder  receives  the  notice.
     5.4.          Persons  Benefiting.  This  Warrant shall be binding upon and
inure  to the benefit of the Company, and its respective successors and assigns,
and  the  Holder, from time to time, of the Warrant.  Nothing in this Warrant is
intended  or  shall  be  construed  to  confer  upon  any Person, other than the
Company,  and  the  Holder of the Warrant any right, remedy or claim under or by
reason  of  this  Warrant  or  any  part  hereof.
5.5.          Counterparts.  This  Warrant  may  be  executed  in  any number of
counterparts,  each  of  which  shall  be  deemed  an original, but all of which
together  constitute  one  and  the  same  instrument.
5.6.          Headings.  The  descriptive  headings  of  the several Sections of
this  Warrant  are  inserted for convenience and shall not control or affect the
meaning  or  construction  of  any  of  the  provisions  hereof.
5.7.          Amendments.  The  Company  shall  not,  without  the prior written
consent  of  the  Holder of the Warrant, by supplemental agreement or otherwise,
make  any  changes,  modifications  or  amendments  to  this  Warrant.
5.8.          Applicable  Law.  THIS  WARRANT  AND  ALL RIGHTS ARISING HEREUNDER
SHALL  BE  GOVERNED BY THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO CONTRACTS
AND  INSTRUMENTS  EXECUTED  AND  TO  BE  PERFORMED  ENTIRELY  IN  SUCH  STATE.
5.9.          Waiver of Jury Trial.  EACH PARTY TO THIS WARRANT, AND EACH HOLDER
BY  ACCEPTANCE  OF  THE  WARRANT, HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO
TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS WARRANT
OR  THE  TRANSACTIONS  CONTEMPLATED  HEREBY.

<PAGE>

This  Warrant shall not be valid for any purpose until it shall have been signed
by  the  Company.
Dated:  June  __,  2001

     ABC-NACO  INC.

     By:
     Name:
Title:

<PAGE>
ACCEPTED  AS  OF  THE  DATE  HEREOF:
     HOLDER

By:

By:
     Name:
     Title:

<PAGE>
                                                                       Exhibit B
                                                                       ---------

                                                                       Exhibit A
                                                                       ---------

                  [To be signed only upon exercise of Warrant]
                           EXERCISE SUBSCRIPTION FORM
To:     ABC-NACO  INC.
     335  Eisenhower  Lane  South
     Lombard,  Illinois  60148
     Attn:  Secretary
     The  undersigned,  the  holder  of  the  within Warrant, hereby irrevocably
elects  to  exercise  the purchase right represented by such Warrant for, and to
purchase thereunder, ______ shares of Common Stock of _____________ and herewith
makes  payment  of  $_____ therefor, and requests that the certificates for such
shares be issued in the name of, and be delivered to ____________, whose address
is  _____________.
Dated:  _____________

By

     Address:

<PAGE>
                  [To be signed only upon transfer of Warrant]
                         FORM OF ASSIGNMENT AND TRANSFER
     FOR  VALUE  RECEIVED,  the  undersigned hereby sells, assigns and transfers
unto  ___________  the  right  represented by the within Warrant to purchase the
______  shares  of  the Common Stock of ____________________ to which the within
Warrant  relates,  and appoints _____________ attorney to transfer said right on
the  books  of  _____________________  with  full  power  of substitution in the
premises.
Dated:  _____________

     By

     Address:

<PAGE>

     Exhibit C
     ---------

     [NET ISSUE EXERCISE OF WARRANT]
     FORM OF NET ISSUE EXERCISE
To:     ABC-NACO  INC.
     335  Eisenhower  Lane  South
     Lombard,  Illinois  60148
     Attn:  Secretary
     The undersigned, the holder of the attached Warrant number W ______, hereby
irrevocably  elects  to  exercise the purchase right represented by such Warrant
pursuant  to  Section  1.4  (Net  Issue Exercise) thereof, and requests that the
certificates  for  such  shares  be  issued  in the name of, and be delivered to
____________________________,  whose  address  is _____________________________.
Dated:  _____________________     ___________________________________
     By:  ________________________________
     Address:
     ____________________________________
     ____________________________________FORM OF
                                     WARRANT
                           to Purchase Common Stock of
                                  ABC-NACO INC.

Warrant  No.  _______
Original  Issue
Date:  May  2,  2001

<PAGE>

     19
NY1  2070209v2

NY1  2070209v2
NEITHER  THE  WARRANTS REPRESENTED BY THIS CERTIFICATE NOR ANY OF THE SECURITIES
ISSUABLE  UPON EXERCISE THEREOF HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF
1933,  AS  AMENDED (THE "ACT"), OR ANY STATE SECURITIES LAW.  NO TRANSFER OF THE
WARRANTS  REPRESENTED  BY  THIS  CERTIFICATE  OR OF THE SECURITIES ISSUABLE UPON
EXERCISE  THEREOF  SHALL  BE VALID OR EFFECTIVE UNLESS (A) SUCH TRANSFER IS MADE
PURSUANT  TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT OR (B) THE HOLDER
OF THE SECURITIES PROPOSED TO BE TRANSFERRED SHALL HAVE DELIVERED TO THE COMPANY
EITHER  A  NO-ACTION  LETTER  FROM  THE SECURITIES AND EXCHANGE COMMISSION OR AN
OPINION  OF  COUNSEL  (WHO  MAY  BE  AN  EMPLOYEE OF SUCH HOLDER) EXPERIENCED IN
SECURITIES  MATTERS TO THE EFFECT THAT SUCH PROPOSED TRANSFER IS EXEMPT FROM THE
REGISTRATION  REQUIREMENTS  OF  THE ACT OR (C) SUCH TRANSFER IS PURSUANT TO RULE
144  OR  RULE  144A UNDER THE ACT AND SUCH HOLDER(S) SHALL HAVE DELIVERED TO THE
COMPANY  A  CERTIFICATE  SETTING  FORTH  THE BASIS FOR APPLYING SUCH RULE TO THE
PROPOSED  TRANSFER.
Warrant  No.  _______
                                     WARRANT
                                 ABC- NACO Inc.
     THIS  IS  TO  CERTIFY  THAT  _______________,  or  registered  assigns,  is
entitled, at any time prior to the Expiration Date (such term, and certain other
capitalized  terms  used  herein  being  hereinafter  defined), to purchase from
ABC-NACO  Inc.,  a Delaware corporation (the "Company"), _____________ shares of
the Common Stock of the Company (subject to adjustment as provided herein), at a
purchase  price  of  $.01  per  share  (the initial "Exercise Price", subject to
adjustment  as provided herein), all on the terms and conditions and pursuant to
the  provisions  hereinafter  set  forth.
1.     DEFINITIONS
       -----------
     As  used  in this Warrant, the following terms have the respective meanings
set  forth  below:
"Additional  ING  Warrants"  has  the  meaning  ascribed to such term in the ING
Agreement.
"Affiliate"  of  any  Person  means  a  Person  (a) which directly or indirectly
through  one  or  more intermediaries controls, or is controlled by, or is under
common  control with such Person, (b) which beneficially owns or holds more than
five  percent  (5.0%)  of the outstanding shares of any class of voting stock of
such  Person  or  (c) more than five percent (5.0%) of the outstanding shares of
any  class  of  voting  stock  (or,  in  the  case  of  a  Person which is not a
corporation,  more  than five percent (5.0%) of the equity interest) of which is
beneficially  owned  or  held  by  such Person.  The term "control" as used with
respect to any Person means the possession, directly or indirectly, of the power
to  direct or cause the direction of the management and policies of such Person,
whether  through  the  ownership of voting securities, by contract or otherwise.
"After-Tax  Basis"  when  referring to a payment that is required hereunder (the
"target  amount"),  shall  mean a total payment (the "total amount") that, after
deduction  of all federal, state and local taxes that are required to be paid by
the  recipient  in  respect  of  the receipt or accrual of such total amount, is
equal  to  the  target  amount.
"Agreed  Rate"  shall  mean  an  interest  rate  which,  with  respect  to  each
determination,  shall  be  equal  to  the  Base Rate as defined under the Credit
Agreement  for  such  determination.
"Appraised  Value" per share of Common Stock as of a date specified herein shall
mean  the  value  of such a share as of such date as determined by an investment
bank  of nationally recognized standing selected by the Majority Warrant Holders
and  reasonably  acceptable  to the Company.  If the investment bank selected by
the  Majority  Warrant  Holders is not reasonably acceptable to the Company, and
the  Company  and  the  Majority  Warrant  Holders  cannot  agree  on a mutually
acceptable  investment  bank,  then the Company and the Majority Warrant Holders
shall each choose one such investment bank and the respective chosen firms shall
jointly select a third investment bank, which shall make the determination.  The
Company shall pay the costs and fees of each such investment bank (including any
such investment bank selected by the Majority Warrant Holders), and the decision
of  the  investment  bank  making such determination of Appraised Value shall be
final and binding on the Company and all affected holders of Warrants or Warrant
Stock.  Such  Appraised  Value  shall be determined as a pro rata portion of the
value  of  the  Company  taken  as a whole, based on the higher of (A) the value
derived  from  a hypothetical sale of the entire Company as a going concern by a
willing  seller to a willing buyer (neither acting under any compulsion) and (B)
the  liquidation  value  of the entire Company.  No discount shall be applied on
account  of  (i) any Warrants or Warrant Stock representing a minority interest,
(ii)  any  lack of liquidity of the Common Stock or the Warrants, (iii) the fact
that  the  Warrants  or Warrant Stock may constitute "restricted securities" for
securities  law purposes, (iv) the existence of any call option or (v) any other
grounds.
"Borrowers"  the  borrowers  under  the  Credit  Agreement.
"Business  Day"  shall mean any day that is not a Saturday or Sunday or a day on
which  banks  are  required  or permitted to be closed in the State of New York.
"Closing  ING  Warrants"  has  the  meaning  ascribed  to  such  term in the ING
Agreement.
"Commission"  shall  mean  the  Securities  and Exchange Commission or any other
federal  agency  then  administering  the  Securities  Act  and  other  federal
securities  laws.
"Common  Stock"  shall  mean  (except where the context otherwise indicates) the
Common  Stock  of  the  Company, par value $.01 per share, as constituted on the
Original  Issue  Date,  and  any  capital stock into which such Common Stock may
thereafter  be  changed, and shall also include (i) capital stock of the Company
of  any  other  class  (regardless  of how denominated) issued to the holders of
shares  of  any Common Stock upon any reclassification thereof which is also not
preferred  as  to  dividends or liquidation over any other class of stock of the
Company  and  which is not subject to redemption and (ii) shares of common stock
of  any  successor  or  acquiring corporation (as defined in Section 4.5 hereof)
received  by or distributed to the holders of Common Stock of the Company in the
circumstances  contemplated  by  Section  4.5  hereof.
"Company"  means  ABC-NACO,  Inc.,  a  Delaware  corporation,  and any successor
corporation.
"Company  Default" means (a) the material breach of any warranty or the material
inaccuracy  at  the  time  when  made  of any representation made by the Company
herein or (b) the material failure by the Company to comply with any covenant of
the  Company  contained  herein.
"Conversion  Price"  as of a specified date with respect to either series of ING
Preferred  Stock  shall mean the "Conversion Price" per share applicable to such
series  as  of  such  date under the Certificate of Designation, Preferences and
Rights  establishing  such  series.
"Convertible  Securities"  shall mean evidences of indebtedness, shares of stock
or  other  securities  that  are  convertible  into or exchangeable for, with or
without  payment  of  additional  consideration  in  cash or property, shares of
Common Stock, either immediately or upon the occurrence of a specified date or a
specified  event.
"Credit  Agreement"  means Fourth Amended and Restated Credit Agreement dated as
of  May  2,  2001  among ABC-NACO Inc., ABC-NACO de Latino America S.A. de C.V.,
Dominion  Castings  Limited, Bank of America, N.A., as lender and agent, and the
other  financial  institutions  listed  on  the  signature  pages  thereto.
"Current  Market  Price"  shall mean as of any specified date the average of the
daily  market  prices  of the Common Stock of the Company for the shorter of (x)
the twenty (20) consecutive Business Days immediately preceding such date or (y)
the  period  commencing  on  the  Business  Day  next following the first public
announcement  of  any  event  giving rise to an adjustment of the Exercise Price
pursuant  to  Section  4  below  or  described  in  clause  (ii) or (iii) of the
definition  of  Repurchase  Period  and  ending on such date.  The "daily market
price"  for  each  such  Business  Day shall be: (i) if the Common Stock is then
listed  on  a  national  securities  exchange  or  is  listed  on  NASDAQ and is
designated  as  a  National Market System security, the last sale price, regular
way,  on such day on the principal stock exchange or market system on which such
Common  Stock  is  then listed or admitted to trading, or, if no such sale takes
place  on  such  day,  the  average  of the closing bid and asked prices for the
Common  Stock on such day as reported on such stock exchange or market system or
(ii)  if  the  Common  Stock  is  not  then listed or admitted to trading on any
national  securities exchange or designated as a National Market System security
on  NASDAQ  but  is  traded over-the-counter, the average of the closing bid and
asked  prices  for  the  Common  Stock  as  reported on NASDAQ or the Electronic
Bulletin  Board  or  in  the  National  Daily  Quotation  Sheets, as applicable.
                              ----------------------------------
"Designated  Office"  shall  have  the  meaning  set forth in Section 10 hereof.
"Dilution  Fee"  shall  have  the  meaning  set  forth  in  Section  13  hereof.
"Disabling  Condition"  shall  have  the  meaning  set  forth in Section 12.1(b)
hereof.
"Exchange  Act"  shall  mean the Securities Exchange Act of 1934, as amended, or
any  similar  federal  statute,  and the rules and regulations of the Commission
thereunder,  all  as  the  same  shall  be  in  effect  from  time  to  time.
"Exercise  Notice"  shall  have  the  meaning  set  forth in Section 2.1 hereof.
"Exercise Period" shall mean the period during which this Warrant is exercisable
pursuant  to  Section  2.1  hereof.
"Exercise  Price"  shall mean, in respect of a share of Common Stock at any date
herein  specified,  the initial Exercise Price set forth in the preamble of this
Warrant  as  adjusted  from  time  to  time  pursuant  to  Section  4  hereof.
"Expiration  Date"  shall  mean  the  later  of (i) the tenth anniversary of the
Original  Issue  Date  and (ii) the date on which all of the "Obligations" under
the  Credit  Agreement  shall  have  been  indefeasibly  repaid  in full and all
financing  arrangements  thereunder  shall  have  been  terminated.
"Fair  Value"  per share of Common Stock as of any specified date shall mean (A)
if  the  Common  Stock is publicly traded on such date, the Current Market Price
per  share  or  (B) if the Common Stock is not publicly traded on such date, (1)
the  fair  market value per share of Common Stock as determined in good faith by
the  Board of Directors of the Company and set forth in a written notice to each
Holder  or (2) if any such Holder objects in writing to such price as determined
by  the  Board  of  Directors  within thirty (30) days after receiving notice of
same,  the  Appraised  Value  per  share  as  of  such  date.
"Floor  Value"  per  share  of  Common Stock shall initially mean $4.6077, which
value  shall  be subject to adjustment from time to time pursuant to Article IV.
"GAAP"  shall mean generally accepted accounting principles in the United States
of  America  as  from  time  to  time  in  effect.
"Holder"  shall  mean (a) with respect to this Warrant, the Person in whose name
the  Warrant  set  forth  herein  is  registered  on  the  books  of the Company
maintained  for such purpose and (b) with respect to any other Warrant or shares
of  Warrant  Stock,  the  Person  in whose name such Warrant or Warrant Stock is
registered  on  the  books  of  the  Company  maintained  for  such  purpose.
"ING Agreement" shall mean the Series C Preferred Stock and Common Stock Warrant
Purchase  Agreement  dated  as  of  April  17,  2001  among  the Company and the
investors  set  forth  therein.
"ING  Holders"  shall  mean  (i) Furman Selz Investors II LP ("FS II"), (ii) ING
Furman  Selz Investors III LP ("FS III"), (iii) any parallel investment funds of
FS  II  or  FS  III  the manager, general partner or managing member of which is
either  FS  Private  Investments LLC or FS Private Investments III LLC, and (iv)
any  affiliate  of  any  of  the  foregoing.
"Lien"  shall  mean  any  mortgage  or  deed  of  trust,  pledge, hypothecation,
assignment,  deposit  arrangement,  lien,  charge,  claim,  security  interest,
easement  or encumbrance, or preference, priority or other security agreement or
preferential  arrangement  of  any kind or nature whatsoever (including, without
limitation,  any  lease or title retention agreement, any financing lease having
substantially  the  same economic effect as any of the foregoing, and the filing
of, or agreement to give, any financing statement perfecting a security interest
under  the  Uniform  Commercial  Code  or  comparable  law of any jurisdiction).
"Majority  Warrant  Holders",  with respect to a given determination, shall mean
the  Holders  of  Warrants  and/or  Warrant  Stock  representing more than fifty
percent (50%) of all Warrants and/or Warrant Stock (with any such Warrants being
deemed to represent, for the purposes of such calculation, the shares of Warrant
Stock  then  issuable  upon  exercise  thereof)  directly  affected  by  such
determination.  For  example: (a) for the purpose of determining the application
of  the antidilution provisions of Article 4, all Warrants would be deemed to be
directly  affected  by  such  determination but no issued Warrant Stock would be
deemed  to  be  affected  thereby and (b) for the purpose of determining the Put
Price,  all Warrants and/or Warrant Stock with respect to which a Put Notice was
then  pending  would  be  deemed  to  be  affected  by  such  determination.
"NASDAQ"  shall  mean  the  NASDAQ  quotation system, or any successor reporting
system.
"Opinion  of Counsel" means a written opinion of counsel (who may be an employee
of  a Holder) experienced in Securities Act chosen by the Holder of this Warrant
or  Warrant  Stock  issued upon the exercise hereof and reasonably acceptable to
the  Company.
"Option"  shall mean any stock option granted by the Company that is outstanding
as  of  the  Original  Issue  Date.
"Original  Issue  Date"  shall mean the date on which the Original Warrants were
issued,  as  set  forth  on  the  cover  page  of  this  Warrant.
"Original  Warrants" shall mean the Warrants originally issued by the Company on
the  Original  Issue  Date to B of A and to the financial institutions under the
Warrant  Purchase  Agreement.
"Other  Property"  shall  have  the  meaning  set  forth  in Section 4.4 hereof.
"Outstanding"  shall mean, when used with reference to Common Stock, at any date
as  of which the number of shares thereof is to be determined, all issued shares
of  Common  Stock, except shares then owned or held by or for the account of the
Company  or  any  Subsidiary  thereof,  and shall include all shares issuable in
respect  of  outstanding  scrip  or  any  certificates  representing  fractional
interests  in  shares  of  Common  Stock.
"Person"  shall  mean  any individual, sole proprietorship, partnership, limited
liability company, joint venture, trust, incorporated organization, association,
corporation,  institution,  public  benefit  corporation,  entity  or government
(whether  federal,  state,  county,  city,  municipal  or  otherwise, including,
without  limitation,  any  instrumentality, division, agency, body or department
thereof).
"Put"  shall  mean the right of the Holder of a Warrant or any shares of Warrant
Stock  to  require  the  Company  to repurchase such Warrant or Warrant Stock in
whole  or  in  part  pursuant  to  Section  12.1  hereof.
"Put  Notice"  shall  have  the  meaning  set  forth  in Section 12.1(a) hereof.
"Put  Price"  shall  have  the  meaning  set  forth  in  Section 12.1(a) hereof.
"Put  Value"  per  share  of  Common  Stock  shall  mean  with  respect  to each
determination  date,  the  higher of (i) the Fair Value per share and (ii) Floor
Value  per  share  on  such  date.
"Repurchase Period" shall mean the period ending on the tenth anniversary of the
Original  Issue  Date  and  beginning  on the earliest to occur of (i) the fifth
anniversary  of  the Original Issue Date, (ii) the date of any Board approval of
(A)  any  merger  or  consolidation  in  which either (1) the Company is not the
surviving  corporation and the holders of Common Stock immediately prior to such
transaction do not hold more than fifty percent (50%) of the common stock of the
surviving  corporation  immediately after such transaction or (2) the Company is
the  surviving  corporation and the holders of Common Stock immediately prior to
such  transaction  do  not  hold at least fifty percent (50%) of the outstanding
Common  Stock  immediately  after  such  transaction,  (B)  the  sale  or  other
disposition  (including  by  merger  or  consolidation)  by  the  Company or any
Subsidiary  of  assets (including the stock of any Subsidiary) representing more
than  fifty  percent  (50%) of either (x) the aggregate fair market value of the
consolidated  total  assets  of  the  Company  and  its  Subsidiaries,  (y)  the
consolidated  gross  revenues  of  the  Company  and its Subsidiaries or (z) the
consolidated  net operating income of the Company and its Subsidiaries (provided
                                                                        --------
that  in  the  case  of  any  transaction described in this clause (ii), any Put
Notice  given prior to the effective date of such transaction shall be deemed to
be  conditioned  on  such  transaction  becoming effective), (iii) any Person or
group  of  Persons  (other than the ING Holders) directly or indirectly acquires
more  than  fifty  percent  (50%)  of  the  voting  rights  associated  with all
outstanding  voting  securities  of the Company at any time or (iv) repayment of
all  of  the  indebtedness  of  the  Borrowers  under  the  Credit  Agreement.
"Restricted  Common Stock" shall mean shares of Common Stock which are, or which
upon  their  issuance  on  the exercise of this Warrant would be, evidenced by a
certificate  bearing  the restrictive legend set forth in Section 8.2(a) hereof.
"Securities  Act"  shall  mean  the  Securities  Act of 1933, as amended, or any
similar  federal  statute,  and  the  rules  and  regulations  of the Commission
thereunder,  all  as  the  same  shall  be  in  effect  at  the  time.
"Series  C  Preferred  Stock"  shall  mean  the  Series C Cumulative Convertible
Participating  Preferred  Stock  of  the  Company.
"Share  Withholding  Option"  has  the  meaning set forth in Section 2.1 hereof.
"Stock  Purchase Rights" shall mean any options, warrants or other securities or
rights to subscribe to or exercisable for the purchase of shares of Common Stock
or  Convertible  Securities,  whether  or  not  immediately  exercisable.
"Subsidiary"  means  any corporation or association (a) more than 50% (by number
of votes) of the voting stock of which is at the time owned by the Company or by
one  or more Subsidiaries or by the Company and one or more Subsidiaries, or any
other  business  entity  in which the Company or one or more Subsidiaries or the
Company  and one or more Subsidiaries own more than a 50% interest either in the
profits  or  capital  of  such  business  entity  or  (b) whose net earnings, or
portions  thereof, are consolidated with the net earnings of the Company and are
recorded  on  the  books  of  the  Company  for  financial reporting purposes in
accordance  with  GAAP.
"Transfer"  shall mean any disposition of any Warrant or Warrant Stock or of any
interest  in  either thereof, which would constitute a "sale" thereof within the
meaning  of  the  Securities  Act.
"Warrant Price" shall mean an amount equal to (i) the number of shares of Common
Stock  being  purchased  upon  exercise  of this Warrant pursuant to Section 2.1
hereof,  multiplied  by  (ii)  the higher of (A) $0.01 per share (as such amount
shall  hereafter  be  proportionately adjusted to reflect any event requiring an
adjustment to the Exercise Price pursuant to Section 4.1 hereof which event also
results  in  an  equivalent change in the par value of the Common Stock) and (B)
the  Exercise  Price  as  of  the  date  of  such  exercise.
"Warrant  Purchase Agreement" shall mean the Warrant Purchase Agreement dated as
of  May  2,  2001  among  the  Company,  Bank of America, N.A. and the financial
institutions  listed  on  the  signature  pages  thereto.
"Warrants"  shall  mean  the  Original  Warrants  and  all  warrants issued upon
transfer,  division  or  combination  of,  or in substitution for, such Original
Warrants  or  any  other  such  Warrant.  All  Warrants  shall  at  all times be
identical as to terms and conditions and date, except as to the number of shares
of  Common  Stock  for  which  they  may  be  exercised.
"Warrant Stock" generally shall mean the shares of Common Stock issued, issuable
or  both  (as  the context may require) upon the exercise or Warrants until such
time as such shares of Common Stock have either been (i) Transferred in a public
offering  pursuant to a registration statement filed under the Securities Act or
(ii)  Transferred  in  a transaction exempt from the registration and prospectus
delivery  requirements of the Securities Act under Section 4(1) thereof with all
transfer  restrictions and restrictive legends with respect to such Common Stock
being  removed  in  connection  with  such  transaction.
2.     EXERCISE  OF  WARRANT
       ---------------------
Section  2.1     Manner of Exercise.  (a) From and after the Original Issue Date
                 ------------------
and  until  5:00 P.M., New York time, on the Expiration Date, the Holder of this
Warrant  may  from  time to time exercise this Warrant, on any Business Day, for
all  or  any  part of the number of shares of Common Stock purchasable hereunder
(as  determined  pursuant  to  Section 2.1(b) below).  In order to exercise this
Warrant, in whole or in part, the Holder shall (i) deliver to the Company at the
     Designated  Office  a  written  notice of the Holder's election to exercise
this  Warrant (an "Exercise Notice"), which Exercise Notice shall be irrevocable
and  specify the number of shares of Common Stock to be purchased, together with
this  Warrant  and  (ii) pay to the Company the Warrant Price (the date on which
both  such  delivery  and payment shall have first taken place being hereinafter
sometimes referred to as the "Exercise Date").  Such Exercise Notice shall be in
the  form of the subscription form appearing at the end of this Warrant as Annex
                                                                           -----
A,  duly  executed  by  the  Holder  or  its  duly authorized agent or attorney.
(b)     Upon  receipt  of such Exercise Notice, Warrant and payment, the Company
shall,  as  promptly  as  practicable, and in any event within ten (10) Business
Days  thereafter,  execute (or cause to be executed) and deliver (or cause to be
delivered)  to  the  Holder  a  certificate  or  certificates  representing  the
aggregate  number  of  full  shares of Common Stock issuable upon such exercise,
together  with  cash  in lieu of any fraction of a share, as hereafter provided.
The  stock  certificate  or  certificates  so  delivered shall be, to the extent
possible,  in  such denomination or denominations as the exercising Holder shall
reasonably request in the Exercise Notice and shall be registered in the name of
     the  Holder  or  such  other  name  as  shall be designated in the Exercise
Notice.  This  Warrant  shall  be  deemed  to  have  been  exercised  and  such
certificate  or certificates shall be deemed to have been issued, and the Holder
or  any  other  Person so designated to be named therein shall be deemed to have
become  a  holder  of record of such shares for all purposes, as of the Exercise
Date.
(c)     Payment  of  the Warrant Price shall be made at the option of the Holder
by  one  or  more  of  the  following methods: (i) by delivery of a certified or
official bank check in the amount of such Warrant Price, (ii) by instructing the
Company  to  withhold  a  number  of  shares of Warrant Stock then issuable upon
exercise  of  this  Warrant  with  an aggregate Fair Value equal to such Warrant
Price  (the  "Share Withholding Option") or (iii) by surrendering to the Company
shares  of Common Stock previously acquired by the Holder with an aggregate Fair
Value  equal  to such Warrant Price.  In the event of any withholding of Warrant
Stock  or surrender of Common Stock pursuant to clause (ii) or (iii) above where
the  number  of  shares  whose Fair Value is equal to the Warrant Price is not a
whole  number,  the  number  of shares withheld by or surrendered to the Company
shall be rounded up to the nearest whole share and the Company shall make a cash
payment  to  the  Holder  based  on the incremental fraction of a share being so
withheld  by or surrendered to the Company in an amount determined in accordance
with  Section  2.3  hereof.
(d)     If this Warrant shall have been exercised in part, the Company shall, at
the  time of delivery of the certificate or certificates representing the shares
of Common Stock being issued, deliver to the Holder a new Warrant evidencing the
rights  of  the Holder to purchase the unpurchased shares of Common Stock called
for  by this Warrant.  Such new Warrant shall in all other respects be identical
with  this  Warrant.
Section 2.2     Payment of Taxes .  All shares of Common Stock issuable upon the
                ----------------
     exercise  of  this  Warrant  pursuant  to the terms hereof shall be validly
issued, fully paid and nonassessable, issued without violation of any preemptive
rights and free and clear of all Liens (other than any created by actions of the
Holder).  The  Company  shall pay all expenses in connection with, and all taxes
and other governmental charges that may be imposed with respect to, the issue or
delivery  thereof  (other  than income taxes imposed on the Holder), unless such
tax  or  charge  is  imposed by law upon the Holder, in which case such taxes or
charges  shall  be paid by the Holder and the Company shall reimburse the Holder
therefor  on  an  After-Tax  Basis.
Section  2.3     Fractional Shares .  The Company shall not be required to issue
                 -----------------
a  fractional  share  of  Common  Stock upon exercise of any Warrant.  As to any
fraction  of  a  share that the Holder of one or more Warrants, the rights under
which  are  exercised  in  the  same transaction, would otherwise be entitled to
purchase  upon such exercise, the Company shall pay a cash adjustment in respect
of  such  final  fraction in an amount equal to the same fraction of the Current
Market  Price  of  one  share  of  Common  Stock  on  the  Exercise  Date.
Section 2.4     Continued Validity and Application .  (a)  A Holder of shares of
                ----------------------------------
Warrant  Stock  issued  upon  the exercise of this Warrant, in whole or in part,
including  any transferee of such shares (other than a transferee in whose hands
such  shares  no  longer  constitute  Warrant  Stock  as  defined herein), shall
continue,  with  respect  to such shares, to be entitled to all rights and to be
subject  to  all  obligations that are applicable to such Holder by the terms of
this Warrant.  The Company shall, at the time of any exercise of this Warrant or
any  transfer  of Warrant Stock, upon the request of the Holder of the shares of
Warrant  Stock  issued in connection with such exercise or transfer, acknowledge
in  writing,  in  a  form reasonably satisfactory to such Holder, its continuing
obligation to afford to such Holder such rights referred to in this Section 2.4;
provided, however, that if such Holder shall fail to make any such request, such
--------  -------
failure  shall  not affect the continuing obligation of the Company to afford to
such  Holder  all  such  rights.
3.     TRANSFER,  DIVISION  AND  COMBINATION
       -------------------------------------
Section  3.1     Transfer  .  Subject  to compliance with Section 8 hereof, each
                 --------
transfer of this Warrant and all rights hereunder, in whole or in part, shall be
     registered  on  the books of the Company to be maintained for such purpose,
upon surrender of this Warrant at the Designated Office, together with a written
assignment  of  this  Warrant in the form of Annex B hereto duly executed by the
                                             -------
Holder  or its agent or attorney.  Upon such surrender and delivery, the Company
shall,  subject  to  Section 8, execute and deliver a new Warrant or Warrants in
the name of the assignee or assignees and in the denominations specified in such
instrument  of  assignment,  and  shall  issue  to  the  assignor  a new Warrant
evidencing  the  portion  of this Warrant not so assigned and this Warrant shall
promptly  be  cancelled.  A  Warrant,  if  properly  assigned in compliance with
Section  8,  may  be  exercised  by the new Holder for the purchase of shares of
Common  Stock  without  having  a  new  Warrant  issued.
Section  3.2     Division  and  Combination.   Subject  to  compliance  with the
                 --------------------------
applicable  provisions  of this Warrant, this Warrant may be divided or combined
with  other Warrants upon presentation hereof at the Designated Office, together
with  a  written  notice  specifying  the  names  and denominations in which new
Warrants  are  to  be  issued,  signed  by  the Holder or its agent or attorney.
Subject  to  compliance with the applicable provisions of this Warrant as to any
transfer  which  may  be  involved  in such division or combination, the Company
shall  execute and deliver a new Warrant or Warrants in exchange for the Warrant
or  Warrants  to  be  divided  or  combined  in  accordance  with  such  notice.
Section  3.3     Expenses.   The Company shall prepare, issue and deliver at its
                 --------
own expense any new Warrant or Warrants required to be issued under this Section
3.
Section  3.4     Maintenance  of Books .  The Company agrees to maintain, at the
                 ---------------------
Designated  Office,  books  for  the  registration and transfer of the Warrants.
4.     ANTIDILUTION  PROVISIONS
       ------------------------
     The  number of shares of Common Stock for which this Warrant is exercisable
and  the  Exercise Price shall be subject to adjustment from time to time as set
forth  in  this  Section  4.
Section 4.1     Stock Dividends, Subdivisions and Combinations .  If at any time
                ----------------------------------------------
     the  Company  shall:
(i)     take  a  record  of  the  holders of its Common Stock for the purpose of
entitling  them  to  receive  a  dividend  payable in, or other distribution of,
additional  shares  of  Common  Stock,
(ii)     subdivide  its  outstanding shares of Common Stock into a larger number
of  shares  of  such  Common  Stock,  or
(iii)     combine  its  outstanding shares of Common Stock into a smaller number
of  shares  of  such  Common  Stock,
then  the  Exercise Price shall be adjusted to equal the product of the Exercise
Price  in  effect  immediately  prior to such event multiplied by a fraction the
numerator  of which is equal to the number of shares of Common Stock Outstanding
immediately prior to the adjustment and the denominator of which is equal to the
number  of shares of Common Stock Outstanding immediately after such adjustment.
Section  4.2     Adjustments  for  ING  Securities  and  Options.
                 -----------------------------------------------
(a)     Upon  the  issuance  of  any  Closing  ING  Warrants pursuant to the ING
Agreement,  the  Exercise  Price  then  in  effect shall be adjusted pursuant to
Section  4.1  in the same manner as if the Company had declared and paid a stock
dividend consisting of a number of shares of Common Stock equal to the number of
     shares  of  Common  Stock  initially issuable upon exercise of such Closing
Warrants.
(b)     No  adjustment  shall be made to the Exercise Price upon the issuance of
the  Additional  ING  Warrants  pursuant to the ING Agreement.  However, at such
time  as any of such Additional ING Warrants become exercisable for the purchase
of additional shares of Common Stock, the Exercise Price then in effect shall be
     adjusted  pursuant  to Section 4.1 in the same manner as if the Company had
declared  and  paid  a stock dividend consisting of a number of shares of Common
Stock  equal  to  the  number  of  such  additional  shares  of  Common  Stock.
(c)     Upon  the  issuance  of  any  shares  of  Series  C Preferred Stock, the
Exercise Price shall thereupon be adjusted to be equal to the product of (x) the
Exercise  Price  in  effect  immediately  prior  to  the  date  of such issuance
multiplied  by  (y) a fraction, the numerator of which is equal to the number of
shares  of Common Stock Outstanding at such time and the denominator of which is
equal  to  the  sum of (1) such number of shares of Common Stock Outstanding and
(2)  the  number  of shares of Common Stock issuable upon conversion of the such
Shares of Series C Preferred Stock at such time assuming conversion in full (and
without  giving  effect  to  any  limitations  on  the  exercise  of the related
conversion  right).
(d)     It  is  acknowledged  that,  as of the Original Issue Date, the exercise
prices  under the outstanding Options are less than the Fair Value of the shares
of  Common Stock subject to such Options and, accordingly, such Options have not
been  taken  into  account  in  determining the number of shares of Common Stock
initially issuable upon exercise of the Warrants.  However, if at time following
the Original Issue Date, the Fair Value of the shares of Common Stock subject to
any  such  Options  exceeds the related exercise price ("In-the-Money Options"),
the Exercise Price shall thereupon be adjusted to be equal to the product of (x)
the Exercise Price in effect immediately prior to occurrence multiplied by (y) a
fraction,  the  numerator  of  which  is equal to the number of shares of Common
Stock  Outstanding at such time and the denominator of which is equal to the sum
of  (1)  such number of shares of Common Stock Outstanding and (2) the number of
shares of Common Stock then issuable upon exercise of such In-the-Money Options.
If  the  number  of  shares  of Common Stock issuable upon any such In-the-Money
Options  shall thereafter increase (other than as a result of an event requiring
an  independent  adjustment  of the Exercise Price pursuant to Section 4.1), the
Exercise  Price  shall  thereupon  be  recalculated  substituting such increased
number  of  shares  of  Common Stock in clause (2) of the preceding formula, but
only  to the extent that such Options remain In-the-Money Options at the time of
such  increase.
Section  4.3     Adjustment  of  Number  of  Shares Purchasable and Floor Value.
                 --------------------------------------------------------------
Upon  any  adjustment  of  the  Exercise Price as provided in Section 4.1 or 4.2
hereof:  (a) the Holder hereof shall thereafter be entitled to purchase upon the
exercise  of this Warrant, at the Exercise Price resulting from such adjustment,
the  number  of  shares  of Common Stock (calculated to the nearest 1/100th of a
share) obtained by multiplying the Exercise Price in effect immediately prior to
     such  adjustment  by  the  number of shares of Common Stock issuable on the
exercise  hereof  immediately  prior to such adjustment and dividing the product
thereof  by  the Exercise Price resulting from such adjustment and (b) the Floor
Value  per  share  shall  be  adjusted  to  be equal to the quotient obtained by
dividing  (1) the product of (x) Floor Value per share immediately prior to such
adjustment  multiplied  by (y) a number of shares issuable upon exercise of this
Warrant  at  such time by (2) the number of shares of Common Stock issuable upon
exercise  of  this  Warrant  after  giving  effect  to  such  adjustment.
Section  4.4     Reorganization,  Reclassification,  Merger,  Consolidation  or
                 --------------------------------------------------------------
Disposition  of  Assets  .  In  case  the  Company shall reorganize its capital,
     ------------------
reclassify  its  capital  stock,  consolidate  or  merge  with  or  into another
corporation  (where  the Company is not the surviving corporation or where there
is  any  change  whatsoever in, or distribution with respect to, the Outstanding
Common  Stock  of the Company), or sell, transfer or otherwise dispose of all or
substantially  all  of  its  property, assets or business to another corporation
and,  pursuant  to  the  terms of such reorganization, reclassification, merger,
consolidation  or  disposition  of  assets,  (i)  shares  of common stock of the
successor  or  acquiring  corporation  or of the Company (if it is the surviving
corporation)  or  (ii) any cash, shares of stock or other securities or property
of  any  nature whatsoever (including warrants or other subscription or purchase
rights)  in addition to or in lieu of common stock of the successor or acquiring
corporation  ("Other  Property")  are  to  be  received by or distributed to the
holders of Common Stock of the Company who are holders immediately prior to such
transaction,  then the Holder of this Warrant shall have the right thereafter to
receive,  upon exercise of this Warrant, the number of shares of common stock of
the successor or acquiring corporation or of the Company, if it is the surviving
corporation,  and  Other  Property  receivable  upon  or  as  a  result  of such
reorganization, reclassification, merger, consolidation or disposition of assets
by  a  holder  of the number of shares of Common Stock for which this Warrant is
exercisable  immediately  prior  to  such  event.  In  such event, the aggregate
Exercise  Price  otherwise  payable for the shares of Common Stock issuable upon
exercise of this Warrant shall be allocated among the shares of common stock and
Other  Property receivable as a result of such reorganization, reclassification,
merger,  consolidation  or disposition of assets in proportion to the respective
fair  market  values  of  such  shares  of  common  stock  and Other Property as
determined  in  good faith by the Board of Directors of the Company.  In case of
any  such reorganization, reclassification, merger, consolidation or disposition
of  assets,  the  successor or acquiring corporation (if other than the Company)
shall  expressly  assume the due and punctual observance and performance of each
and every covenant and condition of this Warrant to be performed and observed by
the  Company  and all the obligations and liabilities hereunder, subject to such
modifications  as  may  be  reasonably  deemed  appropriate  (as  determined  by
resolution  of  the  Board  of Directors of the Company) in order to provide for
adjustments  of  any  shares  of the common stock of such successor or acquiring
corporation for which this Warrant thus becomes exercisable, which modifications
shall  be  as  equivalent as practicable to the adjustments provided for in this
Section  4.  For purposes of this Section 4.4, "common stock of the successor or
acquiring corporation" shall include stock of such corporation of any class that
is not preferred as to dividends or assets over any other class of stock of such
corporation  and  that  is  not subject to redemption and shall also include any
evidences  of  indebtedness,  shares  of  stock  or  other  securities  that are
convertible  into or exchangeable for any such stock, either immediately or upon
the  arrival  of  a specified date or the happening of a specified event and any
warrants  or  other  rights  to  subscribe  for or purchase any such stock.  The
foregoing  provisions  of  this  Section 4.4 shall similarly apply to successive
reorganizations,  reclassification,  mergers,  consolidations  or disposition of
assets.
Section  4.5     Other Provisions Applicable to Adjustments Under this Section .
                 -------------------------------------------------------------
The  following  provisions  shall  be applicable to the adjustments provided for
pursuant  to  this  Section  4:
(a)     When Adjustments To Be Made.  The adjustments required by this Section 4
        ---------------------------
     shall  be  made whenever and as often as any specified event requiring such
an  adjustment  shall  occur.  For  the  purpose  of  any  such  adjustment, any
specified event shall be deemed to have occurred at the close of business on the
date  of  its  occurrence.
(b)     Record  Date.  In case the Company shall take a record of the holders of
        ------------
the  Common Stock for the purpose of entitling them (i) to receive a dividend or
other  distribution  payable  in  Common  Stock, Convertible Securities or Stock
Purchase  Rights  or (ii) to subscribe for or purchase Common Stock, Convertible
Securities  or  Stock  Purchase Rights, then all references in this Section 4 to
the  date  of  the  issuance or sale of such shares of Common Stock, Convertible
Securities  or  Stock  Purchase  Rights shall be deemed to be references to such
record  date.
(c)     Fractional  Interests.  In  computing  adjustments under this Section 4,
        ---------------------
fractional  interests in Common Stock shall be taken into account to the nearest
1/100th  of  a  share.
(d)     When Adjustment Not Required.  If the Company shall take a record of the
        ----------------------------
holders  of  its  Common  Stock  for  the purpose of entitling them to receive a
dividend or distribution to which the provisions of Section 4.1 would apply, but
shall,  thereafter  and before the distribution to stockholders thereof, legally
abandon  its  plan  to  pay  or  deliver  such  dividend  or  distribution, then
thereafter  no  adjustment  shall  be  required  by reason of the taking of such
record  and  any  such  adjustment  previously  made in respect thereof shall be
rescinded  and  annulled.
(e)     Maximum  Exercise Price.  Except as provided in Section 4.1 above, at no
        -----------------------
time  shall  the  Exercise Price per share of Common Stock exceed the amount set
forth  in  the  first  paragraph  of  the  preamble  of  this  Warrant.
(f)     Certain  Limitations.  The  Company agrees not increase the par value of
        --------------------
the  Common  Stock  at  any time other than pursuant to a reverse stock split or
other  combination of outstanding shares of Common Stock that would give rise to
an  adjustment  to  the  Exercise  Price  pursuant  to  Section  4.1.
(g)     Notice  of  Adjustments.  Whenever  the number of shares of Common Stock
        -----------------------
for  which  this  Warrant is exercisable or the Exercise Price shall be adjusted
pursuant to this Section 4, the Company shall forthwith prepare a certificate to
be  executed  by  the  chief  financial officer of the Company setting forth, in
reasonable  detail,  the  event requiring the adjustment and the method by which
such  adjustment was calculated, specifying the number of shares of Common Stock
for  which this Warrant is exercisable and (if such adjustment was made pursuant
to  Section  4.4) describing the number and kind of any other shares of stock or
Other  Property for which this Warrant is exercisable, and any related change in
the  Exercise  Price,  after  giving  effect  to such adjustment or change.  The
Company  shall  promptly cause a signed copy of such certificate to be delivered
to  each  Holder in accordance with Section 14.2.  The Company shall keep at its
principal  office  or at the Designated Office, if different, copies of all such
certificates  and  cause  the same to be available for inspection at said office
during  normal  business  hours by any Holder or any prospective transferee of a
Warrant  designated  by  a  Holder  thereof.
(h)     Independent  Application.  Except  as  otherwise  provided  herein,  all
        ------------------------
subsections  of  this  Section  4  are  intended to operate independently of one
another  (but  without  duplication).  If  an  event  occurs  that  requires the
application  of  more  than  one subsection, all applicable subsections shall be
given  independent  effect  without  duplication.
5.     NO  IMPAIRMENT;  REGULATORY  COMPLIANCE  AND  COOPERATION
       ---------------------------------------------------------
     The  Company  shall  not  by  any  action,  including,  without limitation,
amending  its charter documents or through any reorganization, reclassification,
transfer  of  assets,  consolidation,  merger,  dissolution,  issue  or  sale of
securities  or  any  other  similar voluntary action, avoid or seek to avoid the
observance  or  performance of any of the terms of this Warrant, but will at all
times  in  good  faith  assist  in the carrying out of all such terms and in the
taking  of  all  such  actions as may be necessary or appropriate to protect the
rights of the Holder against impairment.  Without limiting the generality of the
foregoing,  the  Company  shall  take  all  such  action  as may be necessary or
appropriate  in  order that the Company may validly and legally issue fully paid
and nonassessable shares of Common Stock upon the exercise of this Warrant, free
and  clear  of  all  Liens,  and  shall  use its best efforts to obtain all such
authorizations,  exemptions  or  consents from any public regulatory body having
jurisdiction  thereof  as  may be necessary to enable the Company to perform its
obligations  under  this  Warrant.
6.     RESERVATION  AND  AUTHORIZATION  OF  COMMON  STOCK;  REGISTRATION WITH OR
       -------------------------------------------------------------------------
APPROVAL  OF  ANY  GOVERNMENTAL  AUTHORITY
     -------------------------------------
     From  and  after  the  Original  Issue Date, the Company shall at all times
reserve  and  keep available for issuance upon the exercise of the Warrants such
number  of  its  authorized  but  unissued  shares  of  Common  Stock as will be
sufficient  to  permit  the  exercise  in full of all outstanding Warrants.  All
shares  of  Common Stock issuable pursuant to the terms hereof, when issued upon
exercise  of  this  Warrant  with  payment therefor in accordance with the terms
hereof,  shall  be duly and validly issued and fully paid and nonassessable, not
subject  to  preemptive rights and shall be free and clear of all Liens.  Before
taking  any action that would result in an adjustment in the number of shares of
Common Stock for which this Warrant is exercisable or in the Exercise Price, the
Company  shall obtain all such authorizations or exemptions thereof, or consents
thereto,  as  may  be necessary from any public regulatory body or bodies having
jurisdiction  over  such  action.  If  any shares of Common Stock required to be
reserved  for  issuance  upon  exercise  of  Warrants  require  registration  or
qualification  with  any  governmental  authority under any federal or state law
(other  than  under  the Securities Act or any state securities law) before such
shares  may be so issued, the Company will in good faith and as expeditiously as
possible and at its expense endeavor to cause such shares to be duly registered.
7.     NOTICE  OF  CORPORATE  ACTIONS;  TAKING  OF  RECORD;  TRANSFER  BOOKS
       ---------------------------------------------------------------------
Section  7.1     Notices of Corporate Actions.   In the event of: (a) any taking
                 ----------------------------
by  the  Company  of  a record of the holders of any class of securities for the
purpose  of  determining  the  holders  thereof  who are entitled to receive any
dividend  or  distribution, or any right to subscribe for, purchase or otherwise
acquire  any  shares  of capital stock of any class or any other securities, (b)
any  capital  reorganization  of  the  Company,  any  reclassification  or
recapitalization  of  the  capital  stock of the Company or any consolidation or
merger  involving  the  Company  and  any  other Person or any transfer or other
disposition  of  all  or  substantially all the assets of the Company to another
Person  or  (c)  any  voluntary  or  involuntary  dissolution,  liquidation  or
winding-up of the Company, the Company shall mail to each Holder of a Warrant in
     accordance  with  the provisions of Section 14.2 hereof a notice specifying
(i)  the  date  or expected date on which any such record is to be taken for the
purpose of such dividend, distribution or right, and the amount and character of
such dividend, distribution or right and (ii) the date or expected date on which
any  such  reorganization,  reclassification,  recapitalization,  consolidation,
merger, transfer, disposition, dissolution, liquidation or winding-up is to take
place,  the  time,  if  any such time is to be fixed, as of which the holders of
record  of  Common  Stock  shall  be entitled to exchange their shares of Common
Stock for the securities or Other Property deliverable upon such reorganization,
reclassification,  recapitalization,  consolidation,  merger,  transfer,
disposition,  dissolution,  liquidation  or  winding-up  and  a  description  in
reasonable detail of the transaction.  Such notice shall be mailed to the extent
practicable  at  least  thirty (30), but not more than ninety (90) days prior to
the date therein specified, but failure to give any such notice shall not affect
the  validity  of  any  such action taken.  In the event that the Company at any
time  sends  any  other  notice  to  the  holders  of its Common Stock, it shall
concurrently  send  a  copy  of  such  notice  to  each  Holder  of  a  Warrant.
Section  7.2     Taking  of  Record.   In  the  case  of  all dividends or other
                 ------------------
distributions  by the Company to the holders of its Common Stock with respect to
which  any  provision  of any Section hereof refers to the taking of a record of
such  holders,  the  Company  will in each such case take such a record and will
take  such  record  as  of  the  close  of  business  on  a  Business  Day.
Section  7.3     Closing of Transfer Books.   The Company shall not at any time,
                 -------------------------
except  upon  dissolution,  liquidation  or winding up of the Company, close its
stock  transfer books or Warrant transfer books so as to result in preventing or
delaying  the  exercise  or  transfer  of  any  Warrant.
8.     TRANSFER  RESTRICTIONS
       ----------------------
     The  Holder,  by  acceptance  of  this  Warrant,  agrees to be bound by the
provisions  of  this  Section  8.
Section 8.1     Restrictions on Transfers .  Neither this Warrant nor any shares
                -------------------------
     of  Restricted  Common  Stock  issued  upon  the  exercise  hereof shall be
Transferred other than pursuant to an effective registration statement under the
Securities  Act  or  an  exemption from the registration provisions thereof.  No
Transfer  of  this  Warrant  or  any  such shares of Restricted Stock other than
pursuant to such an effective registration statement shall be valid or effective
unless  (a)  the  holder of the securities proposed to be transferred shall have
delivered  to  the  Company  either a no-action letter from the Commission or an
Opinion  of Counsel to the effect that such proposed Transfer is exempt from the
registration  requirements  of  the Securities Act or (b) such Transfer is being
made  pursuant to Rule 144 or Rule 144A under the Securities Act and such holder
shall  have  delivered  to the Company a certificate setting forth the basis for
applying  such  Rule  to  the  proposed  Transfer.  Each  certificate,  if  any,
evidencing such shares of Restricted Common Stock issued upon any such Transfer,
other  than in a public offering pursuant to an effective registration statement
shall  bear the restrictive legend set forth in Section 8.2(a), and each Warrant
issued upon such Transfer shall bear the restrictive legend set forth in Section
8.2(b),  unless  the Holder delivers to the Company an Opinion of Counsel to the
effect  that such legend is not required for the purposes of compliance with the
Securities  Act.  Holders of the Warrants or the Restricted Common Stock, as the
case  may be, shall not be entitled to Transfer such Warrants or such Restricted
Common  Stock  except  in  accordance  with  this  Section  8.1.
Section 8.2     Restrictive Legends .  (a)  Except as otherwise provided in this
                -------------------
Section 8, each certificate for Warrant Stock initially issued upon the exercise
of this Warrant, and each certificate for Warrant Stock issued to any subsequent
transferee of any such certificate, shall be stamped or otherwise imprinted with
two  legends  in  substantially  the  following  forms:
"THE  SHARES  REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED (THE "ACT"), OR ANY STATE SECURITIES LAW.  NO
TRANSFER  OF  THE  SHARES  REPRESENTED  BY  THIS  CERTIFICATE  SHALL BE VALID OR
EFFECTIVE UNLESS (A) SUCH TRANSFER IS MADE PURSUANT TO AN EFFECTIVE REGISTRATION
STATEMENT  UNDER  THE  ACT  OR  (B)  THE HOLDER OF THE SECURITIES PROPOSED TO BE
TRANSFERRED  SHALL  HAVE DELIVERED TO THE COMPANY AN OPINION OF COUNSEL (WHO MAY
BE  AN  EMPLOYEE OF SUCH HOLDER) EXPERIENCED IN SECURITIES MATTERS TO THE EFFECT
THAT  SUCH PROPOSED TRANSFER IS EXEMPT FROM THE REGISTRATION REQUIREMENTS OF THE
ACT  OR (C) SUCH TRANSFER IS PURSUANT TO RULE 144 OR RULE 144A UNDER THE ACT AND
SUCH  HOLDER(S)  SHALL HAVE DELIVERED TO THE COMPANY A CERTIFICATE SETTING FORTH
THE  BASIS  FOR  APPLYING  SUCH  RULE  TO  THE  PROPOSED  TRANSFER."
"THE  SHARES  REPRESENTED BY THIS CERTIFICATE ARE ENTITLED TO THE BENEFIT OF AND
ARE  SUBJECT  TO  CERTAIN  OBLIGATIONS  SET FORTH IN THE WARRANT PURSUANT TO THE
EXERCISE  OF WHICH SUCH SHARES WERE ISSUED.  A COPY OF SUCH WARRANT IS AVAILABLE
AT  THE  EXECUTIVE  OFFICES  OF  THE  COMPANY."
(b)     Except  as  otherwise  provided in this Section 8, each Warrant shall be
stamped  or  otherwise  imprinted  with  a legend in substantially the following
form:
"NEITHER  THE WARRANTS REPRESENTED BY THIS CERTIFICATE NOR ANY OF THE SECURITIES
ISSUABLE  UPON EXERCISE THEREOF HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF
1933,  AS  AMENDED (THE "ACT"), OR ANY STATE SECURITIES LAW.  NO TRANSFER OF THE
WARRANTS  REPRESENTED BY THIS CERTIFICATE OR OF THE STOCK ISSUABLE UPON EXERCISE
THEREOF SHALL BE VALID OR EFFECTIVE UNLESS (A) SUCH TRANSFER IS MADE PURSUANT TO
AN  EFFECTIVE  REGISTRATION  STATEMENT  UNDER  THE  ACT OR (B) THE HOLDER OF THE
SECURITIES PROPOSED TO BE TRANSFERRED SHALL HAVE DELIVERED TO THE COMPANY EITHER
A  NO-ACTION LETTER FROM THE SECURITIES AND EXCHANGE COMMISSION OR AN OPINION OF
COUNSEL  (WHO  MAY  BE  AN  EMPLOYEE  OF  SUCH HOLDER) EXPERIENCED IN SECURITIES
MATTERS  TO  THE  EFFECT  THAT  SUCH  PROPOSED  TRANSFER  IS  EXEMPT  FROM  THE
REGISTRATION  REQUIREMENTS  OF  THE ACT OR (C) SUCH TRANSFER IS PURSUANT TO RULE
144  OR  RULE  144A  UNDER  THE  ACT AND SUCH HOLDER SHALL HAVE DELIVERED TO THE
COMPANY  A  CERTIFICATE  SETTING  FORTH  THE BASIS FOR APPLYING SUCH RULE TO THE
PROPOSED  TRANSFER."
Section  8.3     Termination  of  Securities Law Restrictions .  Notwithstanding
                 --------------------------------------------
the  foregoing provisions of this Section 8, the restrictions imposed by Section
8.1 upon the transferability of the Warrants and the Restricted Common Stock and
     the legend requirements of Section 8.2 shall terminate as to any particular
Warrant  or  shares  of  Restricted  Common  Stock  when  the Company shall have
received  from  the Holder thereof an Opinion of Counsel to the effect that such
legend  is  not  required in order to ensure compliance with the Securities Act.
Whenever  the restrictions imposed by Sections 8.1(b) and 8.2 shall terminate as
to this Warrant, as hereinabove provided, the Holder hereof shall be entitled to
receive  from  the Company, at the expense of the Company, a new Warrant bearing
the  following  legend  in  place  of  the  restrictive legend set forth hereon:
     "THE  RESTRICTIONS  ON  TRANSFERABILITY  OF THE WITHIN WARRANT CONTAINED IN
SECTIONS 8.1(b) AND 8.2 HEREOF TERMINATED ON ______________, 20__, AND ARE OF NO
FURTHER  FORCE  AND  EFFECT."
All  Warrants  issued upon registration of transfer, division or combination of,
or  in  substitution  for,  any Warrant or Warrants entitled to bear such legend
shall have a similar legend endorsed thereon.  Wherever the restrictions imposed
by  this  Section shall terminate as to any share of Restricted Common Stock, as
hereinabove  provided,  the Holder thereof shall be entitled to receive from the
Company,  at  the  Company's expense, a new certificate representing such Common
Stock  not  bearing  the  restrictive  legend  set  forth  in  Section  8.2(a).
9.     LOSS  OR  MUTILATION
       --------------------
     Upon  receipt  by  the  Company  from  any  Holder  of  evidence reasonably
satisfactory  to  it  of  the  ownership  of and the loss, theft, destruction or
mutilation  of  this  Warrant and an indemnity reasonably satisfactory to it (it
being  understood  that the written indemnification agreement of or affidavit of
loss  of U.S. Bank National Association shall be a sufficient indemnity) and, in
case  of  mutilation,  upon  surrender and cancellation hereof, the Company will
execute  and  deliver in lieu hereof a new Warrant of like tenor to such Holder;
provided,  however, in the case of mutilation, no indemnity shall be required if
 -------   -------
this  Warrant  in  identifiable  form  is  surrendered  to  the  Company  for
cancellation.
10.     OFFICE  OF  THE  COMPANY
        ------------------------
     As  long  as  any  of  the  Warrants  remain outstanding, the Company shall
maintain  an  office  or agency, which may be the principal executive offices of
the  Company  (the "Designated Office"), where the Warrants may be presented for
exercise,  registration of transfer, division or combination as provided in this
Warrant.  Such Designated Office shall initially be the office of the Company at
2001  Butterfield  Road,  Suite 502, Downers Grove, Illinois 60515.  The Company
may  from  time  to  time  change the Designated Office to another office of the
Company  or its agent within the United States by notice given to all registered
holders  of Warrants at least ten (10) Business Days prior to the effective date
of  such  change.
11.     FINANCIAL  AND  BUSINESS  INFORMATION
        -------------------------------------
     Until  the  Expiration  Date,  the  Company shall deliver to each Holder of
Warrants  or  of Warrant Stock one copy of each of the following items (provided
                                                                        --------
that,  at  any  time that the Company files periodic reports with the Securities
and  Exchange  Commission under the Securities Exchange Act of 1934, as amended,
the Company may discharge its obligations under this Section 11 by delivering to
each  Holder  promptly  upon  the  filing  thereof  a copy of each such periodic
filing):
(i)     as soon as available, and in any event within forty-five (45) days after
     the  end of each of the first three quarters of each fiscal year, unaudited
interim  consolidated  balance  sheets of the Company and its Subsidiaries as at
the  end of such quarter and the related consolidated statements of income, cash
flow,  stockholders  equity and changes in financial position of the Company and
its  Subsidiaries  as  at the end of and for such quarter, setting forth in each
case  in comparative form the corresponding figures for and as at the end of the
corresponding quarter of the preceding fiscal year, all in reasonable detail and
certified  by  a  principal  financial  officer  of  the Company, as prepared in
accordance  with  GAAP consistently applied (subject to year end adjustments and
the  absence  of  footnotes),  and  fairly presenting the consolidated financial
position  and results of operations of the Company and its Subsidiaries for such
periods;
(ii)     within  ninety  (90)  days  after  the  end  of each fiscal year of the
Company,  consolidated  balance sheets of the Company and its Subsidiaries as at
the  end  of  such  year  and  the  related  consolidated  statements of income,
stockholders'  equity  and  changes in financial position of the Company and its
Subsidiaries  for  such  fiscal  year, setting forth in each case in comparative
form  the  consolidated  figures for the previous fiscal year, all in reasonable
detail  and accompanied by a report thereon of independent public accountants of
recognized  national  standing selected by the Company, which report shall state
that  such  consolidated  financial  statements  present  fairly  the  financial
position  of  the Company and its Subsidiaries as at the dates indicated and the
results  of  their  operations  and  changes in their financial position for the
periods  indicated  in  conformity  with GAAP applied on a basis consistent with
prior years (except as otherwise specified in such report) and that the audit by
such  accountants  in connection with such consolidated financial statements has
been  made  in  accordance  with  generally  accepted  auditing  standards;
(iii)     promptly  upon  their  becoming  available,  copies  of  all financial
statements,  reports, notices and proxy statements sent or made available by the
Company  to  the  holders  of  any  class  of its securities generally or by any
Subsidiary  of  the  Company  to  the  holders  of  any  class of its securities
generally;  and
(iv)     with  reasonable  promptness,  such  other  information relating to the
Company  and  its  Subsidiaries as the Holder may, from time to time, reasonably
request.
12.     REPURCHASE  BY  THE  COMPANY  OF  WARRANTS  AND  WARRANT  STOCK
        ---------------------------------------------------------------
Section 12.1     Obligation to Repurchase Warrants or Warrant Stock .  (a)  From
                 --------------------------------------------------
     time  to time during the Repurchase Period, the Company shall, upon written
notice (a "Put Notice") from the Holder of this Warrant or any Holder of Warrant
Stock  issued  upon  exercise  hereof,  repurchase (subject to the provisions of
Section  12.1(b) below), on the date and in the manner set forth in Section 12.2
below,  from  such  Holder,  all or the portion of such Warrant or the number of
shares  of  Warrant  Stock  (as  applicable) designated in such Put Notice.  The
purchase price for such Warrant or shares of Warrant Stock (as applicable) shall
be  equal  to  an  amount  (the  "Put  Price"),  determined (A) in the case of a
repurchase of this Warrant of any portion thereof, by multiplying (1) the number
of  shares  of Warrant Stock then issuable upon exercise of such Warrant (or the
portion  thereof  designated by the Holder to be repurchased in such Put Notice)
by  (2) the difference between the Put Value per share of Common Stock as of the
date  of  such Put Notice and the Exercise Price per share of Common Stock as of
the  date  of  such  Put  Notice  and (B) in the case of a repurchase of Warrant
Stock,  by  multiplying  (1)  the  number  of  shares  of  Warrant  Stock  to be
repurchased  by  (B)  the  Put Value per share of Common Stock as of the date of
such  Put  Notice.
(b)     The  Company  shall  not  be obligated to repurchase any portion of this
Warrant  or  any  such  Warrant Stock to the extent that either of the following
conditions  (a "Disabling Condition") would exist:  (i) if such repurchase would
be unlawful under the corporation laws of the State of Delaware and no steps can
     be  reasonably  taken  by  the  Company  (including,  without limitation, a
revaluation of assets, a reduction in the stated capital of the Company, causing
the Subsidiaries of the Company to pay dividends to the Company or other similar
restructuring  actions)  that  would  permit  such  repurchase;  or (ii) if such
repurchase would create a default or event of default under the Credit Agreement
(unless  waived).  In the event that, notwithstanding the Company's efforts, any
Disabling Condition remains with respect to any repurchase requested pursuant to
Section  12.1(a),  the  Company  shall  promptly  give the Holder written notice
thereof.  Such  notice  shall  be  accompanied  by  an opinion of counsel to the
Company  confirming  the  existence  of  such  Disabling  Condition,  and if the
Disabling  Condition  would not fully prohibit the Company from repurchasing the
portion of the Warrant or Warrant Stock requested to be repurchased, such notice
shall indicate the portion of the Warrant that may be repurchased by the Company
without  being subject to any such Disabling Condition.  Within thirty (30) days
after  receipt  of  any  such  notice  indicating  that  the  Company is able to
repurchase  a  portion  but not all of such Warrant or Warrant Stock, the Holder
may  elect  to  require the Company to repurchase such portion, and the Holder's
prior request pursuant to Section 12.1(a) shall be deemed to have been withdrawn
with respect to any portion of such Warrant or Warrant Stock not covered by such
an  election.  In  any case in which the Company is released from its obligation
to  repurchase  any  portion of such Warrant or Warrant Stock under this Section
12.1(d)  because  of  the  existence of a Disabling Condition, the Company shall
promptly  notify  the  Holder  of  any  subsequent  abatement  of such Disabling
Condition  that  would permit the Company to make such repurchase in whole or in
part.  Within  thirty  (30)  days  of  receipt  of  any such notice, and without
limiting any other right of the Holder to cause the Company to repurchase all or
any  portion of this Warrant or Warrant Stock pursuant to Section 12.1(a) above,
the  Holder  may reinstate its prior request for a repurchase of such Warrant in
whole  or in part to the extent then permitted, which repurchase, however, shall
be  at  the  higher of (x) the Put Price that would have applied to a repurchase
pursuant  to such original request (together with interest thereon at the Agreed
Rate) and (y) the Put Price that would apply if a new request for repurchase had
been  made  at  the  time  of  the  reinstatement  of  such  prior  request.
Section 12.2     Determination and Payment of Put Price.  (a)  The Put Price for
                 --------------------------------------
     any repurchase of this Warrant pursuant to Section 12.1 shall be determined
as  promptly as practicable (and in any event within thirty (30) days) after the
date  of the Put Notice given to the Company pursuant to Section 12.1, and shall
be  payable  in  cash  within  thirty  (30)  days  following  the  date  of such
determination.  On  the  date  of  any repurchase of any portion of this Warrant
pursuant to this Section 12, the Holder shall assign to the Company such Warrant
or  portion  thereof  being  repurchased,  as  the  case  may  be,  without  any
representation  or  warranty  (except  as  to  title),  by the surrender of this
Warrant  at  the  Designated  Office  against payment of the Put Price therefor.
Payment of the Put Price shall be made, subject to Section 12.2(b) below, at the
option  of  the  Holder  of this Warrant by (i) wire transfer to an account in a
bank  located in the United States designated by such Holder for such purpose or
(ii)  a  certified  or  official  bank  check drawn on a member of the [New York
Clearing  House]  payable to the order of such Holder.  If less than all of this
Warrant  is  being  repurchased, the Company shall, pursuant to Section 3 above,
cancel  such Warrant and issue in the name of, and deliver to, the Holder hereof
a  new  Warrant  for  the  portion  not  being  repurchased.
(b)     In  the event of a delay or dispute relating to the determination of the
amount  of  the  Fair  Value  per  share  of  Common  Stock,  the  Company shall
nonetheless  repurchase  any Warrants to be repurchased pursuant to this Section
12  within  the  time  period  set forth in Section 12.2(a), calculating the Put
Price on the basis of the Company's good faith determination of such Fair Value.
     After  the  resolution  of  such  delay or dispute, the Put Price  shall be
recalculated using the finally determined amount for such price, and, within ten
(10)  days  of the resolution of such delay or dispute, the Company shall pay to
the  Holders  of  the  repurchased  Warrants  the  amount, if any, by which such
recalculated  Put  Price  exceeds  the Put Price previously paid by the Company,
together with interest on such excess from the date of repurchase to the date of
such  payment  at  the  Agreed  Rate.  In  the  event that the repurchase of the
Warrant takes place more than thirty (30) days after the date of the related Put
Notice,  the  Company  shall also pay to the Holders of the Repurchased Warrants
interest  at  the  Agreed Rate on the Put Price from the thirtieth day after the
date  of  such  Put  Notice  until  the  date  of  repurchase.
13.     DILUTION  FEE
        -------------
     In  the  event  that  the Company at any time after the Original Issue Date
shall  pay  a dividend or make any other distribution with respect to its Common
Stock  (or  any  other shares of the capital stock of the Company for which this
Warrant  becomes exercisable pursuant to Section 4 above) whether in the form of
cash,  evidences  of  indebtedness,  securities  or other property (other than a
stock  dividend subject to the provisions of Section 4.1 above), then the Holder
of  this  Warrant shall be entitled to receive a dilution fee (a "Dilution Fee")
payable  in  cash  on the date of payment of such dividend or other distribution
equal  to  the  number of shares of Common Stock (or such other shares of stock)
issuable upon exercise of this Warrant on such date multiplied by the sum of (x)
the  amount  of  cash  and  (y) the fair value of any evidences of indebtedness,
securities  or  other  property distributed with respect to each share of Common
Stock  (or  such  other  stock).  The  "fair  value"  of  any  such evidences of
indebtedness,  securities  or  other  property  shall mean the fair market value
thereof,  as  determined  by the Board of Directors of the Company in good faith
and  supported,  upon the request of the Majority Warrant Holders, by an opinion
of  an investment banking firm or appraisal firm of recognized national standing
selected  by  the  Company and acceptable to such Majority Warrant Holders.  The
fees  and  expenses  of  such investment banking firm or appraisal firm shall be
paid  by  the  Company.
14.     MISCELLANEOUS
        -------------
Section  14.1     Nonwaiver.   No  course  of dealing or any delay or failure to
                  ---------
exercise  any  right  hereunder  on  the part of the Company or the Holder shall
operate  as  a waiver of such right or otherwise prejudice the rights, powers or
remedies  of  such  Person.
Section  14.2     Notice  Generally  .  Any  notice,  demand,  request, consent,
                  -----------------
approval,  declaration,  delivery or communication hereunder to be made pursuant
to  the  provisions  of  this  Warrant shall be sufficiently given or made if in
writing  and  either  delivered  in  person with receipt acknowledged or sent by
registered  or  certified  mail,  return  receipt  requested,  postage  prepaid,
addressed  as  follows:
(a)     if  to  any  Holder  of this Warrant or of Warrant Stock issued upon the
exercise hereof, at its last known address appearing on the books of the Company
     maintained  for  such  purpose;
(b)     if  to  the  Company,  at  its  Designated  Office;
or  at  such  other  address  as  may  be  substituted by notice given as herein
provided.  The  giving of any notice required hereunder may be waived in writing
by  the  party  entitled to receive such notice.  Every notice, demand, request,
consent,  approval, declaration, delivery or other communication hereunder shall
be  deemed  to  have  been  duly given or served on the date on which personally
delivered,  with receipt acknowledged, or three (3) Business Days after the same
shall  have  been  deposited  in the United States mail, or one (1) Business Day
after the same shall have been delivered to Federal Express or another overnight
courier  service.
Section  14.3     Indemnification .  If the Company fails to make, when due, any
                  ---------------
payments  provided  for  in  this  Warrant,  the Company shall pay to the Holder
hereof  (a)  interest  at  the  Agreed Rate on any amounts due and owing to such
Holder  and  (b)  such further amounts as shall be sufficient to cover any costs
and  expenses  including,  but  not  limited  to, reasonable attorneys' fees and
expenses  incurred  by such Holder in collecting any amounts due hereunder.  The
Company  shall  indemnify,  save  and  hold  harmless  the Holder hereof and the
Holders  of  any  Warrant Stock issued upon the exercise hereof from and against
any  and  all  liability,  loss,  cost,  damage,  reasonable  attorneys'  and
accountants' fees and expenses, court costs and all other out-of-pocket expenses
     incurred  in  connection  with  or  arising  from  a Company Default.  This
indemnification  provision  shall be in addition to the rights of such Holder or
Holders  to  bring an action against the Company for breach of contract based on
such  Company  Default.
Section  14.4     Limitation of Liability.   No provision hereof, in the absence
                  -----------------------
of  affirmative  action by the Holder to purchase shares of Common Stock, and no
enumeration  herein of the rights or privileges of the Holder hereof, shall give
rise  to  any liability of such Holder to pay the Exercise Price for any Warrant
Stock  other  than pursuant to an exercise of this Warrant or any liability as a
stockholder of the Company, whether such liability is asserted by the Company or
by  creditors  of  the  Company.
Section  14.5     Remedies  .  Each  Holder of Warrants and/or Warrant Stock, in
                  --------
addition  to  being  entitled  to  exercise its rights granted by law, including
recovery  of  damages,  shall  be entitled to specific performance of its rights
provided under this Warrant.  The Company agrees that monetary damages would not
be  adequate  compensation  for any loss incurred by reason of a breach by it of
the  provisions  of  this  Warrant  and hereby agrees, in an action for specific
performance,  to  waive  the  defense  that  a  remedy at law would be adequate.
Section 14.6     Successors and Assigns .  Subject to the provisions of Sections
                 ----------------------
3.1,  8.1  and  8.2, this Warrant and the rights evidenced hereby shall inure to
the  benefit  of  and  be  binding  upon  the  successors of the Company and the
permitted  successors  and assigns of the Holder hereof.  The provisions of this
Warrant  are  intended to be for the benefit of all Holders from time to time of
this  Warrant  and  to  the  extent applicable, all Holders of shares of Warrant
Stock  issued  upon  the  exercise  hereof (including transferees), and shall be
enforceable  by  any  such  Holder.
Section  14.7     Amendment.   This  Warrant  and  all  other  Warrants  may  be
                  ---------
modified  or amended or the provisions hereof waived with the written consent of
the  Company and the Majority Warrant Holders, provided that no such Warrant may
                                               --------
be  modified or amended to reduce the number of shares of Common Stock for which
such Warrant is exercisable or to increase the price at which such shares may be
purchased  upon exercise of such Warrant (before giving effect to any adjustment
as  provided  therein)  without  the  written  consent  of  the  Holder thereof.
Section  14.8     Severability  .  Wherever  possible,  each  provision  of this
                  ------------
Warrant  shall  be interpreted in such manner as to be effective and valid under
applicable  law,  but if any provision of this Warrant shall be prohibited by or
invalid  under applicable law, such provision shall be ineffective to the extent
of  such  prohibition  or invalidity, without invalidating the remainder of such
provision  or  the  remaining  provisions  of  this  Warrant.
Section  14.9     Headings.   The  headings  used  in  this  Warrant are for the
                  --------
convenience  of  reference only and shall not, for any purpose, be deemed a part
of  this  Warrant.
Section  14.10     GOVERNING  LAW; JURISDICTION.  IN ALL RESPECTS, INCLUDING ALL
                   ----------------------------
MATTERS  OF  CONSTRUCTION,  VALIDITY  AND  PERFORMANCE,  THIS  WARRANT  AND  THE
OBLIGATIONS  ARISING  HEREUNDER SHALL BE GOVERNED BY, AND CONSTRUED AND ENFORCED
IN  ACCORDANCE  WITH,  THE LAWS OF THE STATE OF ILLINOIS APPLICABLE TO CONTRACTS
MADE  AND  PERFORMED  IN SUCH STATE, EXCEPT WITH RESPECT TO THE VALIDITY OF THIS
WARRANT,  THE  ISSUANCE OF WARRANT STOCK UPON EXERCISE HEREOF AND THE RIGHTS AND
DUTIES  OF  THE COMPANY WITH RESPECT TO REGISTRATION OF TRANSFER, WHICH SHALL BE
GOVERNED  BY  THE LAWS OF DELAWARE.  THE COMPANY HEREBY CONSENTS AND AGREES THAT
THE STATE OR FEDERAL COURTS LOCATED IN COOK COUNTY, ILLINOIS, SHALL HAVE, EXCEPT
AS  SET  FORTH BELOW, EXCLUSIVE JURISDICTION TO HEAR AND DETERMINE ANY CLAIMS OR
DISPUTES  BETWEEN  THE COMPANY AND THE HOLDER OF THIS WARRANT PERTAINING TO THIS
WARRANT OR TO ANY MATTER ARISING OUT OF OR RELATING TO THIS AGREEMENT, PROVIDED,
                                                                       --------
THAT  IT IS ACKNOWLEDGED THAT ANY APPEALS FROM THOSE COURTS MAY HAVE TO BE HEARD
BY  A  COURT  LOCATED  OUTSIDE  OF  COOK  COUNTY,  ILLINOIS.

<PAGE>
IN  WITNESS WHEREOF, the Company has caused this Warrant to be duly executed and
its  corporate  seal  to be impressed hereon and attested by its Secretary or an
Assistant  Secretary.
ABC-NACO  INC.
By:_________________________
Name:
Title:
[SEAL]
Attest:
By:___________________________
Name:
Title:

<PAGE>
     ------
     33
NY1  2070209v2

NY1  2070209v2
                            ANNEX ASUBSCRIPTION FORM
                            ------------------------
                 [To be executed only upon exercise of Warrant]
     The undersigned registered owner of this Warrant irrevocably exercises this
Warrant  for  the  purchase  of ______ shares Common Stock of ABC-NACO Inc., and
herewith  makes  payment  therefor,  all  at  the  price  and  on  the terms and
conditions  specified  in  this  Warrant  and requests that certificates for the
shares  of  Common  Stock hereby purchased (and any securities or other property
issuable  upon  such  exercise)  be  issued  in  the  name  of  and delivered to
_______________________________________  whose address is ______________________
_________________________________________________________________________  and,
if  such  shares  of  Common Stock shall not include all of the shares of Common
Stock issuable as provided in this Warrant, that a new Warrant of like tenor and
date  for  the  balance  of  the  shares  of  Common Stock issuable hereunder be
delivered  to  the  undersigned.
_______________________________
(Name  of  Registered  Owner)
_______________________________
(Signature  of  Registered  Owner)
_______________________________
(Street  Address)
_______________________________
(City)    (State)    (Zip  Code)
NOTICE:     The  signature on this subscription must correspond with the name as
written  upon  the  face  of  the  within  Warrant  in every particular, without
alteration  or  enlargement  or  any  change  whatsoever.

<PAGE>

     Table of Contents
     -----------------

     Page
     ----

NY1  2070209v2
     ANNEX BASSIGNMENT FORM
     ----------------------
     FOR  VALUE RECEIVED the undersigned registered owner of this Warrant hereby
sells,  assigns and transfers unto the Assignee named below all of the rights of
the  undersigned  under  this  Warrant,  with respect to the number of shares of
Common  Stock  set  forth  below:
     No. of Shares of
Name  and  Address  of  Assignee     Common  Stock
     -------------------------------- -------------

and  does  hereby  irrevocably  constitute  and  appoint  ________ _____________
attorney-in-fact  to  register  such  transfer  onto  the books of ABC-NACO Inc.
maintained  for  the  purpose,  with full power of substitution in the premises.
Dated:___________________     Print  Name:___________________
Signature:____________________
Witness:______________________
NOTICE:     The  signature  on  this assignment must correspond with the name as
written  upon  the  face  of  the  within  Warrant  in every particular, without
alteration  or  enlargement  or  any  change  whatsoever.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00028-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00028-of-00352.parquet"}]]