Document:

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                                   EXHIBIT 10.10

                         FORM OF DEBT CONVERSION AGREEMENT

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                              DEBT CONVERSION AGREEMENT

       THIS DEBT CONVERSION AGREEMENT (this "Agreement"), dated as of
____________, is by and between JUMP SOFTWARE, INC., a California corporation
("Jump") and _________________, an individual ("Converter"), with reference to
the following facts:

       A.     Jump owes certain indebtedness to Converter which, as of the date
of this Agreement, is in the total amount of $_________ (the "Indebtedness").

       B.     Jump is in the process of merging (the "Merger") with America's
Finest Water, Inc., a Nevada corporation, a publicly traded company (OTCBB:
AFWA) ("AFWA").  Upon completion of the Merger, Jump shall change its name to
JumpMusic.Com, Inc. and designate a series of preferred stock entitled CLASS C
REDEEMABLE AND CONVERTIBLE PREFERRED STOCK (the "Class C Preferred Stock") with
the rights, privileges, and preferences set forth below.

       C.     Upon completion of the Merger, the Indebtedness shall be converted
into shares of the Class C Preferred Stock upon the terms and conditions set
forth herein.

       NOW, THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, the parties hereto agree as
follows:

       1.     CONVERSION.  Effective as of the date of this Agreement but
contingent upon the closing of the Merger (the "Closing"), Jump hereby agrees to
issue to Converter ____________ shares of Class C Preferred Stock (the "Shares")
as payment in full of the Indebtedness.  Effective as of the date of this
Agreement, Converter hereby agrees to accept the Shares in full satisfaction of
the Indebtedness.

       2.     TERMS OF THE CLASS C PREFERRED STOCK.

              a.     RIGHTS, PRIVILEGES, AND PREFERENCES.  The Class C Preferred
Stock shall accrue a dividend of 10% per year and have liquidation preference to
Jump's common shareholders.

              b.     OPTIONAL CONVERSION BY THE HOLDERS.  The holders of the
Class C Preferred Stock shall have the option at any time following the Closing
to convert such shares into shares of common stock of Jump based upon a
conversion price of $3.00 per common share.

              c.     MANDATORY CONVERSION BY JUMP.  If the shares of Class C
Preferred Stock are not converted earlier by the holder(s), at two years
following the Closing, Jump shall be obligated to redeem for cash the Class C
Preferred Stock at face value plus any accrued and unpaid dividends owed.

              d.     OPTIONAL CONVERSION BY JUMP.  Notwithstanding section 2c
above, in the event that Jump's common stock trades at $4.50 per share or
greater for ten (10) consecutive trading days, as measured by the closing bid
price, Jump shall have the right, but not the obligation, to convert all or a
portion of the Class C Preferred Stock on a pro rata basis into its common
shares at the greater of $4.50 or the closing bid price on the date that Jump
provides written notice of its intention to convert.  Jump has thirty (30)
calendar days after the tenth (10th) consecutive trading day to exercise this
optional conversion.  If Jump does not give written notice to the holders of the
Class C Preferred Stock by the thirtieth (30th) calendar day following the tenth
(10th) consecutive trading day, this option has expired and is no longer
exercisable by Jump until Jump's common stock AGAIN trades at $4.50 per share or
greater for another ten (10) consecutive trading day period.

              e.     PARTIAL CONVERSION BY JUMP.  If Jump converts only a
portion of the Class C Preferred Stock under Section 2d above, Jump will again
have the option to convert all or a portion of the remaining outstanding Class

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C Preferred Stock on a pro rata basis into its common shares at the greater
of $4.50 or the closing bid price on the date that Jump provides written
notice of its intention to convert PROVIDED THAT the condition that Jump's
common stock trades at $4.50 per share or greater for ten (10) consecutive
trading days, as measured by the closing bid price, must be again met after
the prior conversion.

              f.     REGISTRATION UPON OPTIONAL CONVERSION BY JUMP. If Jump
exercises its option to convert all or a portion of the Class C Preferred
Stock as set forth in Section 2d and/or 2e, Jump shall prepare and file
within sixty (60) days of the date of conversion, and use its best efforts to
have declared effective by the Securities and Exchange Commission as soon as
practicable thereafter , a registration statement and such other documents,
including a prospectus, as may be necessary in order to permit a public
offering and sale of the shares of Common Stock into which the Class C
Preferred Stock was converted. The Company will pay all expenses incident to
completion of these registration rights, subject only to the requirement that
the sellers shall pay all underwriting discounts or commissions with respect
to the shares of Common Stock sold by such sellers.  This registration right
applies to each and every optional conversion by Jump, if there is more than
one optional conversion by Jump exercised.

       3.     LEGENDS AND RESTRICTIONS ON TRANSFER OR CONVERSION OF CLASS C
PREFERRED STOCK.  The transfer and/or conversion of the Class C Preferred Stock
will be restricted in accordance with the terms hereof.  Each certificate
evidencing the shares of Class C Preferred Stock, including any certificate
issued to any transferee thereof, shall be imprinted with legends in
substantially the following form (unless otherwise permitted under this
Agreement or unless such Class C Preferred Stock shall have been effectively
registered and sold under the Securities Act of 1933, as amended (the "Act") and
the applicable state securities laws):

       THESE SHARES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933,
       AS AMENDED (THE "ACT").  THEY MAY NOT BE OFFERED OR TRANSFERRED BY SALE,
       ASSIGNMENT, PLEDGE OR OTHERWISE UNLESS (I) A REGISTRATION STATEMENT FOR
       THE SHARES UNDER THE ACT IS IN EFFECT OR (II) THE COMPANY HAS RECEIVED AN
       OPINION OF COUNSEL, WHICH OPINION IS SATISFACTORY TO THE COMPANY, TO THE
       EFFECT THAT SUCH REGISTRATION IS NOT REQUIRED UNDER THE ACT.

       Subject to Section 2f, upon conversion of the Class C Preferred Stock (by
either Jump or the holder) into shares of Jump's common stock, such common stock
shall also be restricted in accordance with the Rules of 144.

       The holder of any Class C Preferred Stock by acceptance thereof agrees,
so long as any legend described in this Section shall remain on the certificates
evidencing the Class C Preferred Stock, prior to any transfer of any of the same
(except for a transfer effected pursuant to an effective registration statement
under the Act or in compliance with Rule 144 or Rule 144A thereunder), to give
written notice to Jump of such holder's intention to effect such transfer and
agrees to comply in all material respects with the provisions of this Section.
Such notice, if required, shall describe the proposed method of transfer of the
Class C Preferred Stock in question.  Upon receipt by Jump of such notice, if
required, and if in the opinion of counsel to such holder, which opinion shall
be reasonably satisfactory to Jump., the proposed transfer may be effected
without registration under the Act in compliance with Section 4(2) or Rules 144
or 144A  thereunder and under applicable state securities laws, then the
proposed transfer may be effected; provided, however, that in the case of any
holder which is a partnership, no such opinion of counsel shall be necessary for
a transfer by such partnership to a partner of such partnership, or a retired
partner of such partnership who retires after the date such partnership became a
holder, or the estate of any such partner or retired partner, if the transferee
agrees in writing to be subject to the terms of this Section to the same extent
as if such transferee were originally a signatory to this Agreement.  Upon
receipt by Jump of such opinion and of such agreement by the transferee to be
bound by this Section, the holder of such Class C Preferred Stock shall
thereupon be entitled to transfer the same in accordance with the terms of the
notice (if any) delivered by such holder to Jump.   Each certificate evidencing
the Class C Preferred Stock  issued upon any such transfer shall bear the legend
set forth in this Section.  Upon the written request of a holder of the Class C
Preferred Stock, Jump shall remove the foregoing legend from the applicable
certificates and issue to such holder new certificates therefor, free of any
transfer legend if, with such request, Jump shall have received an opinion of
counsel selected by the holder, such opinion to be reasonably satisfactory to
Jump, to the effect that any transfers by

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said holder of such Class C Preferred Stock may be made to the public without
compliance with either Section 5 of the Act or Rule 144 thereunder and
applicable state securities laws.  In no event will such legend be removed if
such opinion is based upon the "private offering" exemption of Section 4(2)
of the Act.

       4.     REMOVAL OF ALL LIENS AND ENCUMBRANCES.  Upon the Closing and upon
conversion of the Indebtedness into shares of Class C Preferred Stock, Jump and
the Converter shall remove all liens, encumbrances, restrictive covenant, and/or
any other restriction that may exist as a result of the Indebtedness with
respect to the amount of Indebtedness converted.

       5.     NOTICES.  Any notice, request, instruction, or other document
required by the terms of this Agreement, or deemed by any of the Parties hereto
to be desirable, to be given to any other Party hereto shall be in writing and
shall be given by facsimile, personal delivery, overnight delivery, or mailed by
registered or certified mail, postage prepaid, with return receipt requested, to
Jump Software, Inc. at 201 San Antonio Circle, Suite 115, Mountainview,
California 94040, ATTN: Dick Mathews, President, and to the Converter at his or
her address as it last appears on the books and records of Jump.

       The persons and addresses set forth above may be changed from time to
time by a notice sent as aforesaid.  If notice is given by facsimile, personal
delivery, or overnight delivery in accordance with the provisions of this
Section, said notice shall be conclusively deemed given at the time of such
delivery.  If notice is given by mail in accordance with the provisions of this
Section, such notice shall be conclusively deemed given seven business days
after deposit thereof in the United States mail.

       6.     COUNTERPARTS; FACSIMILE SIGNATURES.   This Agreement may be
executed simultaneously in one or more counterparts, each of which shall be
deemed an original, but all of which together shall constitute one and the same
instrument.  The Parties agree that facsimile signatures of this Agreement shall
be deemed a valid and binding execution of this Agreement.

       7.     JURISDICTION.  Any dispute, claim, or any other legal proceedings
in relation to this Agreement shall be heard in the County of Orange, State of
California.

       8.     GOVERNING LAW.  This Agreement shall be deemed to be a contract
made under the laws of the State of California and for all purposes shall be
governed by and construed in accordance with the laws of said State.

       9.     PROFESSIONAL FEES.  In the event either party hereto shall
commence legal proceedings against the other to enforce the terms hereof, or to
declare rights hereunder, as the result of a breach of any covenant or condition
of this Agreement, the prevailing party in any such proceeding shall be entitled
to recover from the losing party its costs of suit, including reasonable
attorneys' fees, accountants' fees, and experts' fees.

       The Parties hereto, agreeing to be bound, hereby execute this Agreement
effective as of the date first set forth above.

JUMP SOFTWARE, INC.                       CONVERTER

_________________________________         __________________________________
BY: DICK MATHEWS
ITS: PRESIDENT

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                             PRECISION CASTPARTS CORP.
                         OFFICERS' CERTIFICATE PURSUANT TO
                            SECTION 301 OF THE INDENTURE

          This Officers' Certificate (the "Certificate") is made pursuant to
Section 301 of the Indenture (the "Indenture") dated as of December 17, 1997 by
and between Precision Castparts Corp., an Oregon corporation (the "Company") and
Bank One Trust Company, N.A. (successor in interest to The First National Bank
of Chicago), a national banking association (the "Trustee").  Unless otherwise
defined herein, all terms used herein that are defined in the Indenture shall
have the meanings assigned them in the Indenture.  Bank One Trust Company, N.A.
as Trustee, Paying Agent, Security Registrar and Transfer Agent under the
Indenture shall also hold such positions for each series of Securities evidenced
by this Certificate.  The undersigned, William D. Larsson and Geoff Hawkes, do
hereby certify that they are the Vice President and Chief Financial Officer, and
Treasurer and Assistant Secretary, respectively of the Company, and that as
such, they are authorized to execute this Certificate on behalf of the Company
and do further certify that:

     A.   Attached hereto as EXHIBIT E are true copies of resolutions relating
to the issuance and sale of a series of Securities and a series of exchange
Securities under the Indenture adopted by the Board of Directors of the Company
at a meeting duly called and held on May 6, 1999 (the "Resolutions"); at such
meeting a quorum was present and acting throughout; and such Resolutions have
not been amended or revoked and are in full force and effect on the date hereof.

     B.   The series of Securities to be issued under the Indenture are
established as follows:

          1.   The title of the securities shall be the "8.75% Senior Notes due
     2005" (the "Initial Notes") and the title of the securities issued in
     exchange for such securities pursuant to the Exchange Offer and Section
     305(B)(f) hereof shall be the "8.75% Senior Notes due 2005" (the "Exchange
     Notes").  The term Note or Notes shall mean the Initial Notes and the
     Exchange Notes.

          2.   The initial principal amount of the Initial Notes which may be
     authenticated and delivered under the Indenture (except for Notes
     authenticated and delivered upon registration of transfer of, or in
     exchange for, or in lieu of, other notes pursuant to Section 304, 305, 306,
     906 or 1107 of the Indenture and except for Notes which, pursuant to
     Section 303 of the Indenture, are deemed never to have been authenticated
     and delivered under the Indenture) shall be $200,000,000, but the aggregate
     amount of Exchange Notes that may be authenticated and delivered in
     compliance with the Indenture evidenced hereby shall be unlimited.

          3.   The date on which the principal of the Notes is payable is March
     15, 2005.

          4.   The rate at which the Notes will bear interest is 8.75% and the
     date from which interest accrues is March 3, 2000 or from the last Interest
     Payment Date on which

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     interest on the Notes was paid. The Interest Payment Dates on which any
     such interest shall be payable are March 15 and September 15 commencing
     with September 15, 2000 and the Regular Record Date for any interest
     payable on any Interest Payment Date is the next preceding March 1 or
     September 1, respectively (whether or not a Business Day).

          5.   The principal of and interest on the Notes are payable and the
     Notes may be surrendered for registration of transfer or exchange at Bank
     One Trust Company, N.A., 1 Bank One Plaza, Suite 0126, Chicago, Illinois
     60670 or at such other offices or agencies as the Company may designate,
     and notices and demands to or upon the Company in respect of the Notes may
     be served at the place described in Section 105 of the Indenture.

          6.   The Notes are not subject to any sinking fund or analogous
     provisions.

          7.   Sections 1302 and 1303 of the Indenture shall apply to the Notes.

          8.   The Depositary Trust Company ("DTC") shall be the Depositary for
     the Notes.

          9.   In addition to the definitions set forth in Section 101 of the
     Indenture, the following definitions shall apply to the Notes:

          "144A GLOBAL NOTE" means a global note substantially in the form of
EXHIBIT A hereto bearing the Global Note Legend and the Private Placement Legend
and deposited with or on behalf of, and registered in the name of, the
Depositary or its nominee that will be issued in a denomination equal to the
outstanding principal amount of the Notes sold in reliance on Rule 144A.

          "APPLICABLE PROCEDURES" means, with respect to any transfer or
exchange of or for beneficial interests in any Global Note, the rules and
procedures of the Depositary, Euroclear and Cedel that apply to such transfer or
exchange.

          "BROKER-DEALER" has the meaning set forth in the Registration Rights
Agreement.

          "CEDEL" means Clearstream Banking.

          "CONSOLIDATED ASSETS" means the aggregate of all assets of the Company
(including the value of all existing Sale and Leaseback Transactions and any
assets resulting from the capitalization of other long-term lease obligations in
accordance with generally accepted accounting principals ("GAAP")) appearing on
the most recent available consolidated balance sheet of the Company at their net
book values, after deducting related depreciation, amortization and other
valuation reserves, all prepared in accordance with GAAP.

          "CONSOLIDATED CURRENT LIABILITIES" means the aggregate of the current
liabilities of the Company appearing on the most recent available consolidated
balance sheet of the Company, all in accordance with GAAP.  In no event shall
Consolidated Current Liabilities include any obligation of the Company or its
Subsidiaries issued under a revolving credit or similar

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agreement if the obligation issued under such agreement matures by its terms
within 12 months from the date thereof but by the terms of such agreement such
obligation may be renewed or extended or the amount thereof reborrowed or
refunded at the option of the Company or any Subsidiary for a term in excess of
12 months from the date of determination.

          "CONSOLIDATED NET ASSETS" means Consolidated Assets after deduction of
Consolidated Current Liabilities.

          "CUSTODIAN" means the Trustee, as custodian with respect to the Notes
in global form, or any successor entity thereto.

          "DEFINITIVE NOTE" means a certificated Note registered in the name of
the Holder thereof and issued in accordance with Section 305(B) hereof,
substantially in the form of EXHIBIT A hereto except that such Note shall not
bear the Global Note Legend and shall not have the "Schedule of Exchanges of
Interests in the Global Note" attached thereto.

          "EUROCLEAR" means Morgan Guaranty Trust Company of New York, Brussels
office, as operator of the Euroclear system.

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

          "EXCHANGE OFFER" has the meaning set forth in the Registration Rights
Agreement.

          "EXCHANGE OFFER REGISTRATION STATEMENT" has the meaning set forth in
the Registration Rights Agreement.

          "GLOBAL NOTES" means, individually and collectively, each of the
Restricted Global Notes and the Unrestricted Global Notes, substantially in the
form of EXHIBIT A hereto issued in accordance with Section 303, 305(B)(b)(iv),
305(B)(d)(ii) or 305(B)(f) hereof.

          "GLOBAL NOTE LEGEND" means the legend set forth in Section
305(B)(g)(ii), which is required to be placed on all Global Notes issued under
this Indenture.

          "IAI GLOBAL NOTE" means the global Note substantially in the form of
EXHIBIT A hereto bearing the Global Note Legend and the Private Placement Legend
and deposited with or on behalf of and registered in the name of the Depositary
or its nominee that will be issued in a denomination equal to the outstanding
principal amount of the Notes sold or transferred to Institutional Accredited
Investors.

          "INDIRECT PARTICIPANT" means a Person who holds a beneficial interest
in a Global Note through a Participant.

          "INITIAL PURCHASER" has the meaning set forth in the Registration
Rights Agreement.

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          "INSTITUTIONAL ACCREDITED INVESTOR" means an institution that is an
"accredited investor" as defined in Rule 501(a)(1), (2), (3) or (7) under the
Securities Act, who are not also QIBs.

          "LETTER OF TRANSMITTAL" means the letter of transmittal to be prepared
by the Company and sent to all Holders of the Notes for use by such Holders in
connection with the Exchange Offer.

          "LIQUIDATED DAMAGES" means all liquidated damages then owing pursuant
to Section 5 of the Registration Rights Agreement.

          "NON-U.S. PERSON" means a Person who is not a U.S. Person.

          "OFFICER" means, with respect to any Person, the Chairman of the
Board, any Vice Chairman of the Board, the President, any Vice President, the
Treasurer, any Assistant Treasurer, the Controller, any Assistant Controller,
the Secretary or any Assistant Secretary of such Person.

          "PARTICIPANT" means, with respect to the Depositary, Euroclear or
Cedel, a Person who has an account with the Depositary, Euroclear or Cedel,
respectively (and, with respect to DTC, shall include Euroclear and Cedel).

          "PRIVATE PLACEMENT LEGEND" means the legend set forth in Section
305(B)(g)(i) to be placed on all Notes issued under this Indenture except where
otherwise permitted by the provisions of this Indenture.

          "QIB" means a "qualified institutional buyer" as defined in Rule 144A.

          "REGISTRATION RIGHTS AGREEMENT" means the Registration Rights
Agreement, dated as of March 3, 2000, by and among the Company and the other
parties named on the signature pages thereof, as such agreement may be amended,
modified or supplemented from time to time.

          "REGULATION S" means Regulation S promulgated under the Securities
Act.

          "REGULATION S GLOBAL NOTE" means a global Note bearing the Private
Placement Legend and deposited with or on behalf of the Depositary and
registered in the name of the Depositary or its nominee, issued in a
denomination equal to the outstanding principal amount of the Notes initially
sold in reliance on Rule 903 of Regulation S.

          "RESTRICTED DEFINITIVE NOTE" means a Definitive Note bearing the
Private Placement Legend.

          "RESTRICTED GLOBAL NOTE" means a Global Note bearing the Private
Placement Legend.

          "RESTRICTED PERIOD" means the 40-day restricted period as defined in
Regulation S.

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          "RULE 144" means Rule 144 promulgated under the Securities Act.

          "RULE 144A" means Rule 144A promulgated under the Securities Act.

          "RULE 903" means Rule 903 promulgated under the Securities Act.

          "RULE 904" means Rule 904 promulgated the Securities Act.

          "SECURITIES ACT" means the Securities Act of 1933, as amended.

          "SHELF REGISTRATION STATEMENT" means the Shelf Registration Statement
as defined in the Registration Rights Agreement.

          "STATISTICAL RELEASE" means the statistical release designated "H.15
(519)" or any successor publication which is published weekly by the Federal
Reserve System and which established yields on actively-traded United States
government securities adjusted to constant maturities, or, if such statistical
release is not published at the time of any determination under the terms of the
Notes, then such other reasonably comparable index which shall be designated by
the Company.

          "UNRESTRICTED GLOBAL NOTE" means a permanent global Note substantially
in the form of EXHIBIT A attached hereto that bears the Global Note Legend and
that has the "Schedule of Exchanges of Interests in the Global Note" attached
thereto, and that is deposited with or on behalf of and registered in the name
of the Depositary, representing a series of Notes that do not bear the Private
Placement Legend.

          "UNRESTRICTED DEFINITIVE NOTE" means one or more Definitive Notes that
do not bear and are not required to bear the Private Placement Legend.

          "U.S. PERSON" means a U.S. person as defined in Rule 902(k) under the
Securities Act.

          10.  With respect to the Notes, the definition of "Book-Entry
     Security" in Section 101 of the Indenture is hereby deleted in its entirety
     and replaced with the following:  "'Book-Entry Security' means Global Notes
     as defined in this Certificate."

          11.  With respect to the Notes, sections 201 through 205 of the
     Indenture are hereby deleted in their entirety and replaced with the
     following:

             "Section 201.    Form.

          (a)  GENERAL.  The Notes and the Trustee's certificate of
authentication shall be substantially in the form of EXHIBIT A hereto.  The
Notes may have notations, legends or endorsements required by law, stock
exchange rule or usage.  The Notes shall be in denominations of $1,000 and
integral multiples thereof.  The Trustee shall authenticate Exchange Notes from
time to time for issue in exchange for a like principal amount of Initial Notes
on written order of the Company in accordance with the Indenture as amended by
this Certificate.

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The written order of the Company shall specify the amount of Notes to be
authenticated and the date on which the Notes are to be authenticated, whether
the Notes are to be Initial Notes or Exchange Notes and such other information
as the Trustee may reasonably request or as is required by the Indenture.

          (b)  GLOBAL NOTES.  Notes issued in global form shall be substantially
in the form of EXHIBIT A attached hereto (including the Global Note Legend
thereon and the "Schedule of Exchanges of Interests in the Global Note" attached
thereto).  Notes issued in definitive form shall be substantially in the form of
EXHIBIT A attached hereto (but without the Global Note Legend thereon and
without the "Schedule of Exchanges of Interests in the Global Note" attached
thereto).  Each Global Note shall represent such of the outstanding Notes as
shall be specified therein and each shall provide that it shall represent the
aggregate principal amount of outstanding Notes from time to time endorsed
thereon and that the aggregate principal amount of outstanding Notes represented
thereby may from time to time be reduced or increased, as appropriate, to
reflect exchanges.  Any endorsement of a Global Note to reflect the amount of
any increase or decrease in the aggregate principal amount of outstanding Notes
represented thereby shall be made by the Trustee or the Custodian, at the
direction of the Trustee, in accordance with instructions given by the Holder
thereof as required by Section 305(B) hereof.

          (c)  EUROCLEAR AND CEDEL PROCEDURES APPLICABLE.  The provisions of the
"Operating Procedures of the Euroclear System" and "Terms and Conditions
Governing Use of Euroclear" and the "General Terms and Conditions" and "Customer
Handbook" of Cedel shall be applicable to transfers of beneficial interests in
the Regulation S Global Notes that are held by Participants through Euroclear or
Cedel."

          12.  The last line of the fifth paragraph of Section 303 of the
     Indenture is hereby amended with respect to the Notes by deleting "Section
     204" and replacing it with "Section 305(B)(g)(ii)."

          13.  With respect to the Notes, Section 305 of the Indenture is hereby
     deleted in its entirety and replaced with the following:

             "Section 305.  Registration, Registration of Transfer and Exchange.

          (A)  SECURITY REGISTRAR AND PAYING AGENT.  The Company shall maintain
an office or agency where Notes may be presented for registration of transfer or
for exchange ("SECURITY REGISTER" or "SECURITY REGISTRAR") and an office or
agency where Notes may be presented for payment.  The Security Registrar shall
keep a register of the Notes and of their transfer and exchange.  The Company
may appoint one or more co-registrars and one or more additional paying agents.
The term "Security Registrar" includes any co-registrar and the term "Paying
Agent" includes any additional paying agent.  The Company may change any Paying
Agent or Security Registrar without notice to any Holder.  The Company shall
notify the Trustee in writing of the name and address of any Paying Agent or
Security Registrar not a party to the Indenture.  If the Company fails to
appoint or maintain another entity as Security Registrar or Paying Agent, the
Trustee shall act as such.  The Company or any of its Subsidiaries may act as
Paying Agent or Security Registrar.

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          (B)  TRANSFER AND EXCHANGE.

          (a)  TRANSFER AND EXCHANGE OF GLOBAL NOTES.  A Global Note may not be
transferred as a whole except by the Depositary to a nominee of the Depositary,
by a nominee of the Depositary to the Depositary or to another nominee of the
Depositary, or by the Depositary or any such nominee to a successor Depositary
or a nominee of such successor Depositary.  All Global Notes will be exchanged
by the Company for Definitive Notes if (i) the Company delivers to the Trustee
notice from the Depositary that it is unwilling or unable to continue to act as
Depositary or that it is no longer a clearing agency registered under the
Exchange Act and, in either case, a successor Depositary is not appointed by the
Company within 120 days after the date of such notice from the Depositary or
(ii) the Company in its sole discretion determines that the Global Notes (in
whole but not in part) should be exchanged for Definitive Notes and delivers a
written notice to such effect to the Trustee.  Upon the occurrence of either of
the preceding events in (i) or (ii) above, Definitive Notes shall be issued in
such names as the Depositary shall instruct the Trustee.  Global Notes also may
be exchanged or replaced, in whole or in part, as provided in Sections 306 and
304.  Every Note authenticated and delivered in exchange for, or in lieu of, a
Global Note or any portion thereof, pursuant to this Section 305(B) or Section
306 or 304, shall be authenticated and delivered in the form of, and shall be, a
Global Note.  A Global Note may not be exchanged for another Note other than as
provided in this Section 305(B)(a), however, beneficial interests in a Global
Note may be transferred and exchanged as provided in Section 305(B)(b), (c) or
(f) hereof.

          (b)  TRANSFER AND EXCHANGE OF BENEFICIAL INTERESTS IN THE GLOBAL
NOTES.  The transfer and exchange of beneficial interests in the Global Notes
shall be effected through the Depositary, in accordance with the provisions of
this Indenture and the Applicable Procedures.  Beneficial interests in the
Restricted Global Notes shall be subject to restrictions on transfer comparable
to those set forth herein to the extent required by the Securities Act.
Transfers of beneficial interests in the Global Notes also shall require
compliance with either subparagraph (i) or (ii) below, as applicable, as well as
one or more of the other following subparagraphs, as applicable:

     (i)    TRANSFER OF BENEFICIAL INTERESTS IN THE SAME GLOBAL NOTE.
     Beneficial interests in any Restricted Global Note may be transferred to
     Persons who take delivery thereof in the form of a beneficial interest in
     the same Restricted Global Note in accordance with the transfer
     restrictions set forth in the Private Placement Legend; provided, however,
     that prior to the expiration of the Restricted Period, transfers of
     beneficial interests in the Regulation S Global Note may not be made to a
     U.S. Person or for the account or benefit of a U.S. Person (other than an
     Initial Purchaser).  Beneficial interests in any Unrestricted Global Note
     may be transferred to Persons who take delivery thereof in the form of a
     beneficial interest in an Unrestricted Global Note.  No written orders or
     instructions shall be required to be delivered to the Security Registrar to
     effect the transfers described in this Section 305(B)(b)(i).

     (ii)   ALL OTHER TRANSFERS AND EXCHANGES OF BENEFICIAL INTERESTS IN GLOBAL
     NOTES.  In connection with all transfers and exchanges of beneficial
     interests that are not subject to Section 305(B)(b)(i) above, the
     transferor of such beneficial interest must deliver to the

                                       7
<PAGE>

     Security Registrar either (A) (1) a written order from a Participant or an
     Indirect Participant given to the Depositary in accordance with the
     Applicable Procedures directing the Depositary to credit or cause to be
     credited a beneficial interest in another Global Note in an amount equal to
     the beneficial interest to be transferred or exchanged and (2) instructions
     given in accordance with the Applicable Procedures containing information
     regarding the Participant account to be credited with such increase or (B)
     (1) a written order from a Participant or an Indirect Participant given to
     the Depositary in accordance with the Applicable Procedures directing the
     Depositary to cause to be issued a Definitive Note in an amount equal to
     the beneficial interest to be transferred or exchanged and (2) instructions
     given by the Depositary to the Security Registrar containing information
     regarding the Person in whose name such Definitive Note shall be registered
     to effect the transfer or exchange referred to in (1) above. Upon
     consummation of an Exchange Offer by the Company in accordance with Section
     305(B)(f) hereof, the requirements of this Section 305(B)(b)(ii) shall be
     deemed to have been satisfied upon receipt by the Security Registrar of the
     instructions contained in the Letter of Transmittal delivered by the Holder
     of such beneficial interests in the Restricted Global Notes. Upon
     satisfaction of all of the requirements for transfer or exchange of
     beneficial interests in Global Notes contained in this Indenture and the
     Notes or otherwise applicable under the Securities Act, the Trustee shall
     adjust the principal amount of the relevant Global Note(s) pursuant to
     Section 305(B)(h) hereof.

     (iii)  TRANSFER OF BENEFICIAL INTERESTS TO ANOTHER RESTRICTED GLOBAL NOTE.
     A beneficial interest in any Restricted Global Note may be transferred to a
     Person who takes delivery thereof in the form of a beneficial interest in
     another Restricted Global Note if the transfer complies with the
     requirements of Section 305(B)(b)(ii) above and the Security Registrar
     receives the following:

            (A) if the transferee will take delivery in the form of a beneficial
      interest in the 144A Global Note, then the transferor must deliver a
      certificate in the form of EXHIBIT B hereto, including the certifications
      in item (1) thereof;

            (B) if the transferee will take delivery in the form of a beneficial
      interest in the Regulation S Global Note, then the transferor must deliver
      a certificate in the form of EXHIBIT B hereto, including the
      certifications in item (2) thereof; and

            (C) if the transferee will take delivery in the form of a beneficial
      interest in the IAI Global Note, then the transferor must deliver a
      certificate in the form of EXHIBIT B hereto, including the certifications
      and certificates and Opinion of Counsel required by item (3) thereof, if
      applicable.

     (iv)   TRANSFER AND EXCHANGE OF BENEFICIAL INTERESTS IN A RESTRICTED
     GLOBAL NOTE FOR BENEFICIAL INTERESTS IN THE UNRESTRICTED GLOBAL NOTE.  A
     beneficial interest in any Restricted Global Note may be exchanged by any
     holder thereof for a beneficial interest in an Unrestricted Global Note or
     transferred to a Person who takes delivery thereof in the form of a
     beneficial interest in an Unrestricted Global Note if the exchange or
     transfer complies with the requirements of Section 305(B)(b)(ii) above and:

                                       8
<PAGE>

            (A) such exchange or transfer is effected pursuant to the Exchange
      Offer in accordance with the Registration Rights Agreement and the holder
      of the beneficial interest to be transferred, in the case of an exchange,
      or the transferee, in the case of a transfer, certifies in the applicable
      Letter of Transmittal that it is not (1) a broker-dealer, (2) a Person
      participating in the distribution of the Exchange Notes or (3) a Person
      who is an affiliate (as defined in Rule 144) of the Company;

            (B) such transfer is effected pursuant to the Shelf Registration
      Statement in accordance with the Registration Rights Agreement;

            (C) such transfer is effected by a Broker-Dealer pursuant to the
      Exchange Offer Registration Statement in accordance with the Registration
      Rights Agreement; or

            (D) the Security Registrar receives the following:

                (1) if the holder of such beneficial interest in a Restricted
        Global Note proposes to exchange such beneficial interest for a
        beneficial interest in an Unrestricted Global Note, a certificate from
        such holder in the form of EXHIBIT C hereto, including the
        certifications in item (1)(a) thereof; or

                (2) if the holder of such beneficial interest in a Restricted
        Global Note proposes to transfer such beneficial interest to a Person
        who shall take delivery thereof in the form of a beneficial interest in
        an Unrestricted Global Note, a certificate from such holder in the form
        of EXHIBIT B hereto, including the certifications in item (4) thereof;

      and, in each such case set forth in this subparagraph (D), if the Security
      Registrar so requests or if the Applicable Procedures so require, an
      Opinion of Counsel in form reasonably acceptable to the Security Registrar
      to the effect that such exchange or transfer is in compliance with the
      Securities Act and that the restrictions on transfer contained herein and
      in the Private Placement Legend are no longer required in order to
      maintain compliance with the Securities Act.

     If any such transfer is effected pursuant to subparagraph (B) or (D) above
     at a time when an Unrestricted Global Note has not yet been issued, the
     Company shall issue and, upon receipt of a Company Order in accordance with
     Section 303 of the Indenture, the Trustee shall authenticate one or more
     Unrestricted Global Notes in an aggregate principal amount equal to the
     aggregate principal amount of beneficial interests transferred pursuant to
     subparagraph (B) or (D) above.

     Beneficial interests in an Unrestricted Global Note cannot be exchanged
     for, or transferred to Persons who take delivery thereof in the form of, a
     beneficial interest in a Restricted Global Note.

                                       9
<PAGE>

      (c)   TRANSFER OR EXCHANGE OF BENEFICIAL INTERESTS FOR DEFINITIVE NOTES.

     (i)    BENEFICIAL INTERESTS IN RESTRICTED GLOBAL NOTES TO RESTRICTED
     DEFINITIVE NOTES.  If any holder of a beneficial interest in a Restricted
     Global Note proposes to exchange such beneficial interest for a Restricted
     Definitive Note or to transfer such beneficial interest to a Person who
     takes delivery thereof in the form of a Restricted Definitive Note, then,
     upon receipt by the Security Registrar of the following documentation:

            (A) if the holder of such beneficial interest in a Restricted Global
      Note proposes to exchange such beneficial interest for a Restricted
      Definitive Note, a certificate from such holder in the form of EXHIBIT C
      hereto, including the certifications in item (2)(a) thereof;

            (B) if such beneficial interest is being transferred to a QIB in
      accordance with Rule 144A under the Securities Act, a certificate to the
      effect set forth in EXHIBIT B hereto, including the certifications in item
      (1) thereof;

            (C) if such beneficial interest is being transferred to a Non-U.S.
      Person in an offshore transaction in accordance with Rule 903 or Rule 904
      under the Securities Act, a certificate to the effect set forth in EXHIBIT
      B hereto, including the certifications in item (2) thereof;

            (D) if such beneficial interest is being transferred pursuant to an
      exemption from the registration requirements of the Securities Act in
      accordance with Rule 144 under the Securities Act, a certificate to the
      effect set forth in EXHIBIT B hereto, including the certifications in item
      (3)(a) thereof;

            (E) if such beneficial interest is being transferred to an
      Institutional Accredited Investor in reliance on an exemption from the
      registration requirements of the Securities Act other than those listed in
      subparagraphs (B) through (D) above, a certificate to the effect set forth
      in EXHIBIT B hereto, including the certifications, certificates and
      Opinion of Counsel required by item (3) thereof, if applicable;

            (F) if such beneficial interest is being transferred to the Company
      or any of its Subsidiaries, a certificate to the effect set forth in
      EXHIBIT B hereto, including the certifications in item (3)(b) thereof; or

            (G) if such beneficial interest is being transferred pursuant to an
      effective registration statement under the Securities Act, a certificate
      to the effect set forth in EXHIBIT B hereto, including the certifications
      in item (3)(c) thereof,

     the Trustee shall cause the aggregate principal amount of the applicable
     Global Note to be reduced accordingly pursuant to Section 305(B)(h) hereof,
     and the Company shall execute and the Trustee shall authenticate and
     deliver to the Person designated in the instructions a Definitive Note in
     the appropriate principal amount.  Any Definitive Note issued in exchange
     for a beneficial interest in a Restricted Global Note pursuant to this
     Section 305(B)(c) shall be registered in such name or names and in such
     authorized

                                       10
<PAGE>

     denomination or denominations as the holder of such beneficial interest
     shall instruct the Security Registrar through instructions from the
     Depositary and the Participant or Indirect Participant. The Trustee shall
     deliver such Definitive Notes to the Persons in whose names such Notes are
     so registered. Any Definitive Note issued in exchange for a beneficial
     interest in a Restricted Global Note pursuant to this Section 305(B)(c)(i)
     shall bear the Private Placement Legend and shall be subject to all
     restrictions on transfer contained therein.

     (ii)   BENEFICIAL INTERESTS IN RESTRICTED GLOBAL NOTES TO UNRESTRICTED
     DEFINITIVE NOTES.  A holder of a beneficial interest in a Restricted Global
     Note may exchange such beneficial interest for an Unrestricted Definitive
     Note or may transfer such beneficial interest to a Person who takes
     delivery thereof in the form of an Unrestricted Definitive Note only if:

            (A) such exchange or transfer is effected pursuant to the Exchange
      Offer in accordance with the Registration Rights Agreement and the holder
      of such beneficial interest, in the case of an exchange, or the
      transferee, in the case of a transfer, certifies in the applicable Letter
      of Transmittal that it is not (1) a broker-dealer, (2) a Person
      participating in the distribution of the Exchange Notes or (3) a Person
      who is an affiliate (as defined in Rule 144) of the Company;

            (B) such transfer is effected pursuant to the Shelf Registration
      Statement in accordance with the Registration Rights Agreement;

            (C) such transfer is effected by a Broker-Dealer pursuant to the
      Exchange Offer Registration Statement in accordance with the Registration
      Rights Agreement; or

            (D) the Security Registrar receives the following:

                (1) if the holder of such beneficial interest in a Restricted
        Global Note proposes to exchange such beneficial interest for a
        Definitive Note that does not bear the Private Placement Legend, a
        certificate from such holder in the form of EXHIBIT C hereto, including
        the certifications in item (1)(b) thereof; or

                (2) if the holder of such beneficial interest in a Restricted
        Global Note proposes to transfer such beneficial interest to a Person
        who shall take delivery thereof in the form of a Definitive Note that
        does not bear the Private Placement Legend, a certificate from such
        holder in the form of EXHIBIT B hereto, including the certifications in
        item (4) thereof;

      and, in each such case set forth in this subparagraph (D), if the Security
      Registrar so requests or if the Applicable Procedures so require, an
      Opinion of Counsel in form reasonably acceptable to the Security Registrar
      to the effect that such exchange or transfer is in compliance with the
      Securities Act and that the restrictions on transfer contained herein and
      in the Private Placement Legend are no longer required in order to
      maintain compliance with the Securities Act.

                                       11
<PAGE>

     (iii)  BENEFICIAL INTERESTS IN UNRESTRICTED GLOBAL NOTES TO UNRESTRICTED
     DEFINITIVE NOTES.  If any holder of a beneficial interest in an
     Unrestricted Global Note proposes to exchange such beneficial interest for
     a Definitive Note or to transfer such beneficial interest to a Person who
     takes delivery thereof in the form of a Definitive Note, then, upon
     satisfaction of the conditions set forth in Section 305(B)(b)(ii) hereof,
     the Trustee shall cause the aggregate principal amount of the applicable
     Global Note to be reduced accordingly pursuant to Section 305(B)(h) hereof,
     and the Company shall execute and the Trustee shall authenticate and
     deliver to the Person designated in the instructions a Definitive Note in
     the appropriate principal amount.  Any Definitive Note issued in exchange
     for a beneficial interest pursuant to this Section 305(B)(c)(iii) shall be
     registered in such name or names and in such authorized denomination or
     denominations as the holder of such beneficial interest shall instruct the
     Security Registrar through instructions from the Depositary and the
     Participant or Indirect Participant.  The Trustee shall deliver such
     Definitive Notes to the Persons in whose names such Notes are so
     registered.  Any Definitive Note issued in exchange for a beneficial
     interest pursuant to this Section 305(B)(c)(iii) shall not bear the Private
     Placement Legend.

            (d)     TRANSFER AND EXCHANGE OF DEFINITIVE NOTES FOR BENEFICIAL
INTERESTS.

     (i)    RESTRICTED DEFINITIVE NOTES TO BENEFICIAL INTERESTS IN RESTRICTED
     GLOBAL NOTES.  If any Holder of a Restricted Definitive Note proposes to
     exchange such Note for a beneficial interest in a Restricted Global Note or
     to transfer such Restricted Definitive Notes to a Person who takes delivery
     thereof in the form of a beneficial interest in a Restricted Global Note,
     then, upon receipt by the Security Registrar of the following
     documentation:

            (A) if the Holder of such Restricted Definitive Note proposes to
      exchange such Note for a beneficial interest in a Restricted Global Note,
      a certificate from such Holder in the form of EXHIBIT C hereto, including
      the certifications in item (2)(b) thereof;

            (B) if such Restricted Definitive Note is being transferred to a QIB
      in accordance with Rule 144A under the Securities Act, a certificate to
      the effect set forth in EXHIBIT B hereto, including the certifications in
      item (1) thereof;

            (C) if such Restricted Definitive Note is being transferred to a
      Non-U.S. Person in an offshore transaction in accordance with Rule 903 or
      Rule 904 under the Securities Act, a certificate to the effect set forth
      in EXHIBIT B hereto, including the certifications in item (2) thereof;

            (D) if such Restricted Definitive Note is being transferred pursuant
      to an exemption from the registration requirements of the Securities Act
      in accordance with Rule 144 under the Securities Act, a certificate to the
      effect set forth in EXHIBIT B hereto, including the certifications in item
      (3)(a) thereof;

                                       12
<PAGE>

            (E) if such Restricted Definitive Note is being transferred to an
      Institutional Accredited Investor in reliance on an exemption from the
      registration requirements of the Securities Act other than those listed in
      subparagraphs (B) through (D) above, a certificate to the effect set forth
      in EXHIBIT B hereto, including the certifications, certificates and
      Opinion of Counsel required by item (3) thereof, if applicable;

            (F) if such Restricted Definitive Note is being transferred to the
      Company or any of its Subsidiaries, a certificate to the effect set forth
      in EXHIBIT B hereto, including the certifications in item (3)(b) thereof;
      or

            (G) if such Restricted Definitive Note is being transferred pursuant
      to an effective registration statement under the Securities Act, a
      certificate to the effect set forth in EXHIBIT B hereto, including the
      certifications in item (3)(c) thereof,

     the Trustee shall cancel the Restricted Definitive Note, increase or cause
     to be increased the aggregate principal amount of, in the case of clause
     (A) above, the appropriate Restricted Global Note, in the case of clause
     (B) above, the 144A Global Note, in the case of clause (C) above, the
     Regulation S Global Note, and in all other cases, the IAI Global Note.

     (ii)   RESTRICTED DEFINITIVE NOTES TO BENEFICIAL INTERESTS IN UNRESTRICTED
     GLOBAL NOTES.  A Holder of a Restricted Definitive Note may exchange such
     Note for a beneficial interest in an Unrestricted Global Note or transfer
     such Restricted Definitive Note to a Person who takes delivery thereof in
     the form of a beneficial interest in an Unrestricted Global Note only if:

            (A) such exchange or transfer is effected pursuant to the Exchange
      Offer in accordance with the Registration Rights Agreement and the Holder,
      in the case of an exchange, or the transferee, in the case of a transfer,
      certifies in the applicable Letter of Transmittal that it is not (1) a
      broker-dealer, (2) a Person participating in the distribution of the
      Exchange Notes or (3) a Person who is an affiliate (as defined in Rule
      144) of the Company;

            (B) such transfer is effected pursuant to the Shelf Registration
      Statement in accordance with the Registration Rights Agreement;

            (C) such transfer is effected by a Broker-Dealer pursuant to the
      Exchange Offer Registration Statement in accordance with the Registration
      Rights Agreement; or

            (D) the Security Registrar receives the following:

                (1) if the Holder of such Definitive Notes proposes to exchange
        such Notes for a beneficial interest in the Unrestricted Global Note, a
        certificate from such Holder in the form of EXHIBIT C hereto, including
        the certifications in item (1)(c) thereof; or

                                       13
<PAGE>

                (2) if the Holder of such Definitive Notes proposes to transfer
        such Notes to a Person who shall take delivery thereof in the form of a
        beneficial interest in the Unrestricted Global Note, a certificate from
        such Holder in the form of EXHIBIT B hereto, including the
        certifications in item (4) thereof;

      and, in each such case set forth in this subparagraph (D), if the Security
      Registrar so requests or if the Applicable Procedures so require, an
      Opinion of Counsel in form reasonably acceptable to the Security Registrar
      to the effect that such exchange or transfer is in compliance with the
      Securities Act and that the restrictions on transfer contained herein and
      in the Private Placement Legend are no longer required in order to
      maintain compliance with the Securities Act.

     Upon satisfaction of the conditions of any of the subparagraphs in this
     Section 305(B)(d)(ii), the Trustee shall cancel the Definitive Notes and
     increase or cause to be increased the aggregate principal amount of the
     Unrestricted Global Note.

     (iii)  UNRESTRICTED DEFINITIVE NOTES TO BENEFICIAL INTERESTS IN
     UNRESTRICTED GLOBAL NOTES.  A Holder of an Unrestricted Definitive Note may
     exchange such Note for a beneficial interest in an Unrestricted Global Note
     or transfer such Definitive Notes to a Person who takes delivery thereof in
     the form of a beneficial interest in an Unrestricted Global Note at any
     time.  Upon receipt of a request for such an exchange or transfer, the
     Trustee shall cancel the applicable Unrestricted Definitive Note and
     increase or cause to be increased the aggregate principal amount of one of
     the Unrestricted Global Notes.

     If any such exchange or transfer from a Definitive Note to a beneficial
     interest is effected pursuant to subparagraphs (ii)(B), (ii)(D) or (iii)
     above at a time when an Unrestricted Global Note has not yet been issued,
     the Company shall issue and, upon receipt of a Company Order in accordance
     with Section 303 of the Indenture, the Trustee shall authenticate one or
     more Unrestricted Global Notes in an aggregate principal amount equal to
     the principal amount of Definitive Notes so transferred.

            (e)     TRANSFER AND EXCHANGE OF DEFINITIVE NOTES FOR DEFINITIVE
NOTES.  Upon request by a Holder of Definitive Notes and such Holder's
compliance with the provisions of this Section 305(B)(e), the Security Registrar
shall register the transfer or exchange of Definitive Notes.  Prior to such
registration of transfer or exchange, the requesting Holder shall present or
surrender to the Security Registrar the Definitive Notes duly endorsed or
accompanied by a written instruction of transfer in form satisfactory to the
Security Registrar duly executed by such Holder or by its attorney, duly
authorized in writing.  In addition, the requesting Holder shall provide any
additional certifications, documents and information, as applicable, required
pursuant to the following provisions of this Section 305(B)(e).

     (i)    RESTRICTED DEFINITIVE NOTES TO RESTRICTED DEFINITIVE NOTES.  Any
     Restricted Definitive Note may be transferred to and registered in the name
     of Persons who take delivery thereof in the form of a Restricted Definitive
     Note if the Security Registrar receives the following:

                                       14
<PAGE>

            (A) if the transfer will be made pursuant to Rule 144A under the
      Securities Act, then the transferor must deliver a certificate in the form
      of EXHIBIT B hereto, including the certifications in item (1) thereof;

            (B) if the transfer will be made pursuant to Rule 903 or Rule 904,
      then the transferor must deliver a certificate in the form of EXHIBIT B
      hereto, including the certifications in item (2) thereof; and

            (C) if the transfer will be made pursuant to any other exemption
      from the registration requirements of the Securities Act, then the
      transferor must deliver a certificate in the form of EXHIBIT B hereto,
      including the certifications, certificates and Opinion of Counsel required
      by item (3) thereof, if applicable.

     (ii)   RESTRICTED DEFINITIVE NOTES TO UNRESTRICTED DEFINITIVE NOTES.  Any
     Restricted Definitive Note may be exchanged by the Holder thereof for an
     Unrestricted Definitive Note or transferred to a Person or Persons who take
     delivery thereof in the form of an Unrestricted Definitive Note if:

            (A) such exchange or transfer is effected pursuant to the Exchange
      Offer in accordance with the Registration Rights Agreement and the Holder,
      in the case of an exchange, or the transferee, in the case of a transfer,
      certifies in the applicable Letter of Transmittal that it is not (1) a
      broker-dealer, (2) a Person participating in the distribution of the
      Exchange Notes or (3) a Person who is an affiliate (as defined in Rule
      144) of the Company;

            (B) any such transfer is effected pursuant to the Shelf Registration
      Statement in accordance with the Registration Rights Agreement;

            (C) any such transfer is effected by a Broker-Dealer pursuant to the
      Exchange Offer Registration Statement in accordance with the Registration
      Rights Agreement; or

            (D) the Security Registrar receives the following:

                (1) if the Holder of such Restricted Definitive Notes proposes
        to exchange such Restricted Definitive Notes for an Unrestricted
        Definitive Note, a certificate from such Holder in the form of EXHIBIT C
        hereto, including the certifications in item (1)(d) thereof; or

                (2) if the Holder of such Restricted Definitive Notes proposes
        to transfer such Notes to a Person who shall take delivery thereof in
        the form of an Unrestricted Definitive Note, a certificate from such
        Holder in the form of EXHIBIT B hereto, including the certifications in
        item (4) thereof;

      and, in each such case set forth in this subparagraph (D), if the Security
      Registrar so requests, an Opinion of Counsel in form reasonably acceptable
      to the Company to the effect that such exchange or transfer is in
      compliance with the Securities Act and that

                                       15
<PAGE>

      the restrictions on transfer contained herein and in the Private Placement
      Legend are no longer required in order to maintain compliance with the
      Securities Act.

     (iii)  UNRESTRICTED DEFINITIVE NOTES TO UNRESTRICTED DEFINITIVE NOTES.  A
     Holder of Unrestricted Definitive Notes may transfer such Notes to a Person
     who takes delivery thereof in the form of an Unrestricted Definitive Note.
     Upon receipt of a request to register such a transfer, the Security
     Registrar shall register the Unrestricted Definitive Notes pursuant to the
     instructions from the Holder thereof.

            (f)     EXCHANGE OFFER.  Upon the occurrence of the Exchange Offer
in accordance with the Registration Rights Agreement, the Company shall issue
and, upon receipt of a Company Order in accordance with Section 303 of the
Indenture, the Trustee shall authenticate (i) one or more Unrestricted Global
Notes in an aggregate principal amount equal to the principal amount of the
beneficial interests in the Restricted Global Notes tendered for acceptance by
Persons that certify in the applicable Letters of Transmittal that (x) they are
not Broker-Dealers, (y) they are not participating in a distribution of the
Exchange Notes and (z) they are not affiliates (as defined in Rule 144) of the
Company, and accepted for exchange in the Exchange Offer and (ii) Definitive
Notes in an aggregate principal amount equal to the principal amount of the
Restricted Definitive Notes accepted for exchange in the Exchange Offer.
Concurrently with the issuance of such Notes, the Trustee shall cause the
aggregate principal amount of the applicable Restricted Global Notes to be
reduced accordingly, and the Company shall execute and the Trustee shall
authenticate and deliver to the Persons designated by the Holders of Definitive
Notes so accepted Definitive Notes in the appropriate principal amount.

            (g)     LEGENDS.  The following legends shall appear on the face of
all Global Notes and Definitive Notes issued under this Indenture unless
specifically stated otherwise in the applicable provisions of this Indenture.

     (i)    PRIVATE PLACEMENT LEGEND.

            (A) Except as permitted by subparagraph (B) below, each Global Note
      and each Definitive Note (and all Notes issued in exchange therefor or
      substitution thereof) shall bear the legend in substantially the following
      form

"THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 (THE
"SECURITIES ACT"), AND THIS NOTE MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE
TRANSFERRED EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT OR IN
ACCORDANCE WITH AN APPLICABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF
THE SECURITIES ACT (SUBJECT TO THE DELIVERY OF SUCH EVIDENCE, IF ANY, REQUIRED
UNDER THE INDENTURE PURSUANT TO WHICH THIS NOTE IS ISSUED) AND IN ACCORDANCE
WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY
OTHER JURISDICTION.  EACH PURCHASER OF THE SECURITY EVIDENCED HEREBY IS HEREBY
NOTIFIED THAT THE SELLER MAY BE RELYING ON THE EXEMPTION FROM THE PROVISIONS OF
SECTION 5 OF THE SECURITIES ACT PROVIDED BY RULE 144A THEREUNDER OR ANOTHER
EXEMPTION UNDER

                                       16
<PAGE>

THE SECURITIES ACT. THE HOLDER OF THE SECURITY EVIDENCED HEREBY AGREES FOR THE
BENEFIT OF THE COMPANY THAT (A) SUCH SECURITY MAY BE RESOLD, PLEDGED OR
OTHERWISE TRANSFERRED ONLY (1) (A) TO A PERSON WHO THE SELLER REASONABLY
BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER (AS DEFINED IN RULE 144A UNDER THE
SECURITIES ACT) IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A, (B) IN A
TRANSACTION MEETING THE REQUIREMENTS OF RULE 144 UNDER THE SECURITIES ACT, (C)
OUTSIDE THE UNITED STATES TO A FOREIGN PERSON IN A TRANSACTION MEETING THE
REQUIREMENTS OF RULE 904 UNDER THE SECURITIES ACT OR (D) IN ACCORDANCE WITH
ANOTHER EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT (AND
BASED UPON AN OPINION OF COUNSEL IF THE COMPANY SO REQUESTS), AS LONG AS THE
SECURITY REGISTRAR RECEIVES A CERTIFICATION OF THE TRANSFEROR AND AN OPINION OF
COUNSEL THAT SUCH TRANSFER IS IN COMPLIANCE WITH THE SECURITIES ACT, (2) TO THE
COMPANY OR (3) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT AND, IN EACH
CASE, IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE
UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION AND (B) THE HOLDER WILL AND
EACH SUBSEQUENT HOLDER IS REQUIRED TO NOTIFY ANY PURCHASER FROM IT OF THE
SECURITY EVIDENCED HEREBY OF THE RESALE RESTRICTION SET FORTH IN (A) ABOVE."

            (B) Notwithstanding the foregoing, any Global Note or Definitive
      Note issued pursuant to subparagraphs (b)(iv), (c)(ii), (c)(iii), (d)(ii),
      (d)(iii), (e)(ii), (e)(iii) or (f) to this Section 305(B) (and all Notes
      issued in exchange therefor or substitution thereof) shall not bear the
      Private Placement Legend.

     (ii)   GLOBAL NOTE LEGEND.  Each Global Note shall bear a legend in
     substantially the following form:

"THIS GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE
GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL
OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES
EXCEPT THAT (I) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED
PURSUANT TO SECTION 201(b) OF THE INDENTURE, (II) THIS GLOBAL NOTE MAY BE
EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTIONS 305(B)(a) OR 306 OF THE
INDENTURE, (III) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR
CANCELLATION PURSUANT TO SECTION 309 OF THE INDENTURE AND (IV) THIS GLOBAL NOTE
MAY BE TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF
PRECISION CASTPARTS CORP."

            (h)     CANCELLATION AND/OR ADJUSTMENT OF GLOBAL NOTES.  At such
time as all beneficial interests in a particular Global Note have been exchanged
for Definitive Notes or a particular Global Note has been repurchased or
canceled in whole and not in part, each such Global Note shall be returned to or
retained and canceled by the Trustee in accordance with

                                       17
<PAGE>

Section 309. At any time prior to such cancellation, if any beneficial interest
in a Global Note is exchanged for or transferred to a Person who will take
delivery thereof in the form of a beneficial interest in another Global Note or
for Definitive Notes, the principal amount of Notes represented by such Global
Note shall be reduced accordingly and an endorsement shall be made on such
Global Note by the Trustee or by the Depositary at the direction of the Trustee
to reflect such reduction; and if the beneficial interest is being exchanged for
or transferred to a Person who will take delivery thereof in the form of a
beneficial interest in another Global Note, such other Global Note shall be
increased accordingly and an endorsement shall be made on such Global Note by
the Trustee or by the Depositary at the direction of the Trustee to reflect such
increase.

            (i)     GENERAL PROVISIONS RELATING TO TRANSFERS AND EXCHANGES.

     (i)    To permit registrations of transfers and exchanges, the Company
     shall execute and the Trustee shall authenticate Global Notes and
     Definitive Notes upon the Company's order or at the Security Registrar's
     request.

     (ii)   No service charge shall be made to a holder of a beneficial
     interest in a Global Note or to a Holder of a Definitive Note for any
     registration of transfer or exchange, but the Company may require payment
     of a sum sufficient to cover any transfer tax or similar governmental
     charge payable in connection therewith (other than any such transfer taxes
     or similar governmental charge payable upon exchange or transfer pursuant
     to Sections 304, 1107 and 906 hereof).

     (iii)  All Global Notes and Definitive Notes issued upon any registration
     of transfer or exchange of Global Notes or Definitive Notes shall be the
     valid obligations of the Company, evidencing the same debt, and entitled to
     the same benefits under this Indenture, as the Global Notes or Definitive
     Notes surrendered upon such registration of transfer or exchange.

     (iv)   The Company shall not be required to register the transfer of or to
     exchange a Note between a record date and the next succeeding Interest
     Payment Date.

     (v)    The Trustee shall authenticate Global Notes and Definitive Notes in
     accordance with the provisions of Section 303 of the Indenture.

     (vi)   All certifications, certificates and Opinions of Counsel required
     to be submitted to the Security Registrar pursuant to this Section 305(B)
     to effect a registration of transfer or exchange may be submitted by
     facsimile."

            14.     With respect to the Notes, in Section 401, the words "and
     any Liquidated Damages" shall be added immediately following the word
     "premium" in the sixth line of the carryover paragraph on page 38 of the
     Indenture.

            15.     With respect to the Notes, the words "and any Liquidated
     Damages" shall be added immediately following the word "premium" in the
     sixth line of the paragraph under Section 402.

                                       18
<PAGE>

            16.     In addition to the Events of Default set forth in Section
     501 of the Indenture, any default in the payment of any Liquidated Damages
     payable on the Notes when due, and the continuance of such default for a
     period of 30 days, shall constitute an additional Event of Default under
     the Notes.

            17.     With respect to the Notes, Section 502(1)(B) is hereby
     deleted in its entirety and replaced with the following:

            "(B) the principal of (and premium and Liquidated Damages on, if
any,) any Securities of that series which have become due otherwise than by such
declaration of acceleration and any interest thereon at the rate or rates
prescribed therefor in such Securities,"

            18.     With respect to the Notes, the first paragraph of Section
     503 of the Indenture is hereby deleted in its entirety and replaced with
     the following:

            "The Company covenants that if

            (1) default is made in the payment of any interest on, or
Liquidated Damages with respect to, any Security when such interest or
Liquidated Damages become due and payable and such default continues for a
period of 30 days, or

            (2) default is made in the payment of the principal of (or premium,
if any, on) any Security at the Maturity thereof,

            the Company will, upon demand of the Trustee, pay to it, for the
benefit of the Holders of such Securities, the whole amount then due and payable
on such Securities for principal and premium and Liquidated Damages, if any, and
interest and, to the extent that payment of such interest shall be legally
enforceable, interest on any overdue principal and premium and Liquidated
Damages, if any, and on any overdue interest, at the rate or rates prescribed
therefor in such Securities, and, in addition thereto, such further amount as
shall be sufficient to cover the costs and expenses of collection, including the
reasonable compensation, expenses, disbursements and advances of the Trustee its
agents and counsel."

            19.     With respect to the Notes, Section 506 is hereby amended to
     add "or any Liquidated Damages" immediately following the word "premium" in
     the third sentence of the first paragraph thereunder.

            20.     With respect to the Notes, Section 506 of the Indenture is
     hereby amended to replace the clause beginning with the word "SECOND" with
     the following:

            "SECOND: To the payment of amounts then due and unpaid for
principal of and premium and Liquidated Damages, if any, and interest on the
Securities in respect of which or for the benefit of which such money has been
collected, ratably, without preference or priority of any kind, according to the
amounts due and payable on such Securities for principal and premium and
Liquidated Damages, if any, and interest respectively; and"

                                       19
<PAGE>

            21.     With respect to the Notes, Section 508 of the Indenture is
     hereby deleted in its entirety and replaced with the following:

                    "Section 508.  Unconditional Right of Holders to Receive
Payment.

            Notwithstanding any other provision in this Indenture, the Holder
of any Security shall have the right, which is absolute and unconditional, to
receive payment of the principal of and any premium and Liquidated Damages, if
any, and (subject to Section 307) any interest on such Security on the Stated
Maturity or Maturities expressed in such Security (or, in the case of
redemption, on the Redemption Date) and to institute suit for the enforcement of
any such payment, and such rights shall not be impaired without the consent of
such Holder."

            22.     With respect to the Notes, Section 513 of the Indenture is
     hereby amended by deleting 513(1) in its entirety and replacing it with the
     following:

            "(1) in the payment of the principal of, premium and Liquidated
Damages, if any, or interest on any Security of such series, or"

            23.     With respect to the Notes, Section 704 is hereby amended by
     adding the following sentence at the end of Section 704:

            "For so long as any Notes remain outstanding, the Company shall
furnish to Holders and to securities analysts and prospective investors, upon
their request, the information required to be delivered pursuant to Rule
144A(d)(4) under the Securities Act."

            24.     With respect to the Notes, Section 801 of the Indenture is
     hereby amended by deleting clause (1) in its entirety and replacing it with
     the following:

            "either the Company shall be the continuing corporation, or the
successor Person or purchaser shall be a corporation, partnership or trust
organized and validly existing under the laws of the United States of America,
any State thereof or the District of Columbia and shall expressly assume by an
indenture supplemental hereto, executed and delivered to the Trustee, in form
satisfactory to the Trustee, the due and punctual payment of the principal of
and any premium and interest on all the Securities, the performance or
observance of every covenant of this Indenture on the part of the Company to be
performed or observed, and the obligations of the Company under the Registration
Rights Agreement;"

            25.     With respect to the Notes, Section 1001 of the Indenture is
     hereby amended by adding the following sentence at the end of the
     paragraph:  "The Company shall pay all Liquidated Damages, if any, in the
     same manner, on the dates and in the amounts set forth in the Registration
     Rights Agreement."

            26.     With respect to the Notes, Section 1003 of the Indenture is
     hereby amended by deleting the first and second paragraphs and replacing
     them with the following:

                                       20
<PAGE>

            "If the Company shall at any time act as its own Paying Agent with
respect to any series of Securities, it will, on or before each due date of the
principal of or premium or Liquidated Damages, if any, or interest on any of the
Securities of that series, segregate and hold in trust for the benefit of the
Persons entitled thereto a sum sufficient to pay the principal and premium and
Liquidated Damages, if any, and interest so becoming due until such sums shall
be paid to such Persons or otherwise disposed of as herein provided and will
promptly notify the Trustee of its action or failure so to act.

            Whenever the Company shall have one or more Paying Agents for any
series of Securities, it will, prior to each due date of the Principal of or
premium or Liquidated Damages, if any, or interest on any Securities of that
series, deposit with a Paying Agent a sum sufficient to pay such amount, such
sum to be held as provided by the Trust Indenture Act, and (unless such Paying
Agent is the Trustee) the Company will promptly notify the Trustee of its action
or failure so to act."

            27.     With respect to the Notes, Section 1003 of the Indenture is
     further amended by deleting the first phrase of the fifth paragraph of
     Section 1003 up to and including the first semi-colon and replacing it with
     the following:

            "Any money deposited with the Trustee or any Paying Agent, or then
held by the Company, in trust for the payment of the principal of or premium or
Liquidated Damages, if any, or interest on any Security of any series and
remaining unclaimed for two years after such principal, premium, Liquidated
Damages or interest has become due and payable shall be paid to the Company on
Company Request, or (if then held by the Company) shall be discharged from such
trust;"

            28.     With respect to the Notes, the first sentence of the first
     paragraph of Section 1008 of the Indenture is hereby amended by deleting
     "10% of Consolidated Net Tangible Assets" and replacing it with "12% of
     Consolidated Net Assets".

            29.     With respect to the Notes, the last line of clause (5) of
     Section 1009 of the Indenture is hereby amended by deleting "10% of
     Consolidated Net Tangible Assets" and replacing it with "12% of
     Consolidated Net Assets".

            30.     With respect to the Notes, the clause immediately following
     Section 1302(A) shall be deleted and replaced with the following:

            "the rights of Holders of Outstanding Securities of such series to
receive, solely from the trust fund described in Section 1304 as more fully set
forth in such Section, payments of the principal of (and premium and Liquidated
Damages, if any) and interest on such Securities when such payments are due,"

            31.     With respect to the Notes, the clause immediately following
     Section 1304(1)(C)(i) shall be deleted and replaced with the following:

                                       21
<PAGE>

            "the principal of (and premium and Liquidated Damages, if any) and
interest on the Outstanding Securities of such series on the Maturity of such
principal, premium and Liquidated Damages, if any, or interest and"

                                       22
<PAGE>

            Dated as of the 3rd day of March, 2000.

                                        PRECISION CASTPARTS CORP.

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

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

                                       23
<PAGE>

                                    Exhibit A

[Face of Note]
--------------------------------------------------------------------------------

CUSIP/CINS ____________

[8.75% Senior Notes due 2005] [8.75% Exchange Notes due 2005]

No. ___                                                           $_____________

PRECISION CASTPARTS CORP.

promises to pay to ______________

or registered assigns,

the principal sum of ______________________

Dollars on _____________, _____.

Interest Payment Dates:  ____________ and ____________

Record Dates:  ____________ and ____________

Dated: _______________, ____            PRECISION CASTPARTS CORP.

                                        By:_____________________________________
                                        Name:  William D. Larsson
                                        Title:  Vice President and Chief
                                                Financial Officer
Attest:

By:_________________________________________           (SEAL)
Name:  Ruth A. Beyer
Title:  Secretary

Dated: March 3, 2000

This is one of the Securities of the series designated therein referred to in
the within-mentioned Indenture:

BANK ONE TRUST COMPANY, N.A.,
 as Trustee

By: ___________________________________
        Authorized Signatory
--------------------------------------------------------------------------------

                                      A-1
<PAGE>

[Back of Note]
[8.75% Senior Notes due 2005] [8.75% Exchange Notes due 2005]

[INSERT THE GLOBAL NOTE LEGEND, IF APPLICABLE PURSUANT TO THE PROVISIONS OF THE
INDENTURE]

[INSERT THE PRIVATE PLACEMENT LEGEND, IF APPLICABLE PURSUANT TO THE PROVISIONS
OF THE INDENTURE]

            Precision Castparts Corp., a corporation duly organized and
existing under the laws of Oregon (herein called the "Company", which term
includes any successor Person under the Indenture hereinafter referred to), for
value received, hereby promises to pay to ___________, or registered assigns,
the principal sum of _______________ Dollars on _____________, ______, and to
pay interest thereon from ___________, _______ or from the most recent Interest
Payment Date to which interest has been paid or duly provided for, semi-annually
on _________ and __________ in each year, commencing ____________, ____, at the
rate of ____% per annum, until the principal hereof is paid or made available
for payment and (to the extent that the payment of such interest shall be
legally enforceable) at the rate of ____% per annum on any overdue principal and
premium and on any overdue installment of interest and shall pay Liquidated
Damages payable pursuant to Section 5 of the Registration Rights Agreement
referred to below. The interest and Liquidated Damages so payable, and
punctually paid or duly provided for, on any Interest Payment Date will, as
provided in such Indenture, be paid to the Person in whose name this Note is
registered at the close of business on the Regular Record Date for such
interest, which shall be the _________ or ____________ (whether or not a
Business Day), as the case may be, next preceding such Interest Payment Date.
Any such interest and Liquidated Damages not so punctually paid or duly provided
for will forthwith cease to be payable to the Holder on such Regular Record Date
and may either be paid to the Person in whose name this Note (or one or more
Predecessor Securities) is registered at the close of business on a Special
Record Date for the payment of such Defaulted Interest to be fixed by the
Trustee, notice whereof shall be given to Holders of Notes of this series not
less than 10 days prior to such Special Record Date, or be paid at any time in
any other lawful manner not inconsistent with the requirements of any securities
exchange on which the Notes of this series may be listed, and upon such notice
as may be required bysuch exchange, all as more fully provided in said
Indenture.

            Payment of the principal of (and premium, if any) and interest on
this Note will be made at the office or agency of the Company maintained for
that purpose in New York, New York, in such coin or currency of the United
States of America as at the time of payment is legal tender for payment of
public and private debts; PROVIDED, HOWEVER that at the option of the Company
payment of interest may be made by check mailed to the address of the Person
entitled thereto as such address shall appear in the Security Register or by
wire transfer to an account maintained by the Person entitled thereto as
specified in the Security Register, provided that such Person shall have given
the Trustee written wire instructions.

            Unless the certificate of authentication hereon has been executed
by the Trustee by manual signature, this Note shall not be entitled to any
benefit under the Indenture or be valid or obligatory for any purpose.

            This Note is one of a duly authorized issue of securities of the
Company (herein called the "Notes"), issued and to be issued in one or more
series under an Indenture, dated as of

                                      A-2
<PAGE>

December 17, 1997 (herein, together with the Officers' Certificate creating such
series, called the "Indenture"), between the Company and Bank One Trust Company,
N.A. (successor in interest to The First National Bank of Chicago), as Trustee
(herein called the "Trustee", which term includes any successor trustee under
the Indenture), to which Indenture and all indentures supplemental thereto
reference is hereby made for a statement of the respective rights, limitations
of rights, duties and immunities thereunder of the Company, the Trustee and the
Holders of the Notes and of the terms upon which the Notes are, and are to be,
authenticated and delivered. This Note is one of the series designated on the
face hereof, the initial principal amount of which is $200,000,000, but the
aggregate amount of which is unlimited.

            The Indenture contains provisions for defeasance at any time of the
entire Indebtedness of this Note or certain restrictive covenants and Events of
Default with respect to this Note, in each case upon compliance with certain
conditions set forth in the Indenture.

            If an Event of Default with respect to Notes of this series shall
occur and be continuing, the principal of the Notes of this series may be
declared due and payable in the manner and with the effect provided in the
Indenture.

            The Indenture permits, with certain exceptions as therein provided,
the amendment thereof and the modification of the rights and obligations of the
Company and the rights of the Holders of the Notes of each series to be affected
under the Indenture at any time by the Company and the Trustee with the consent
of the Holders of a majority in principal amount of the Notes at the time
Outstanding of each series to be affected. The Indenture also contains
provisions permitting the Holders of specified percentages in principal amount
of the Notes of each series at the time Outstanding, on behalf of the Holders of
all Notes of such series, to waive compliance by the Company with certain
provisions of the Indenture and certain past defaults under the Indenture and
their consequences.  Any such consent or waiver by the Holder of this Note shall
be conclusive and binding upon such Holder and upon all future Holders of this
Note and of any Note issued upon the registration of transfer hereof or in
exchange herefor or in lieu hereof, whether or not notation of such consent or
waiver is made upon this Note.

            No reference herein to the Indenture and no provision of this Note
or of the Indenture shall alter or impair the obligation of the Company, which
is absolute and unconditional, to pay the principal of and any premium and
interest on this Note at the times, place and rate, and in the coin or currency,
herein prescribed.

            The Notes of this series are issuable only in registered form
without coupons in denominations of $1,000 and any integral multiple thereof.
The transfer of the Notes may be registered and the Notes may be exchanged as
provided in the Indenture. The Security Registrar and the Trustee may require a
Holder, among other things, to furnish appropriate endorsements and transfer
documents and the Company may require a Holder to pay any taxes and fees
required by law or permitted by the Indenture.

            Prior to due presentment of this Note for registration of transfer,
the Company, the Trustee and any agent of the Company or the Trustee may treat
the Person in whose name this Note is registered as the owner hereof for all
purposes, and neither the Company, the Trustee nor any such agent shall be
affected by notice to the contrary.

                                      A-3
<PAGE>

            All terms used in this Note which are defined in the Indenture
shall have the meanings assigned to them in the Indenture.

                                      A-4
<PAGE>

                                 ASSIGNMENT FORM

     To assign this Note, fill in the form below:

(I) or (we) assign and transfer this Note to:___________________________________
                                               (Insert assignee's legal name)

________________________________________________________________________________
                  (Insert assignee's soc. sec. or tax I.D. no.)

________________________________________________________________________________

________________________________________________________________________________

________________________________________________________________________________

________________________________________________________________________________
(Print or type assignee's name, address and zip code)

and irrevocably appoint_________________________________________________________
to transfer this Note on the books of the Company.  The agent may substitute
another to act for him.

Date:_______________________

                                   Your Signature:______________________________
                    (Sign exactly as your name appears on the face of this Note)

Signature Guarantee*:________________________

*  Participant in a recognized Signature Guarantee Medallion Program (or other
signature guarantor acceptable to the Trustee).

                                      A-5
<PAGE>

               SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE

            The following exchanges of a part of this Global Note for an
interest in another Global Note or for a Definitive Note, or exchanges of a part
of another Global Note or Definitive Note for an interest in this Global Note,
have been made:

<TABLE>
<CAPTION>
                                                                 Principal Amount
                                                                 of                   Signature of
                                                                 this Global Note     authorized
    Date of        Amount of decrease in   Amount of increase    following such       officer of
    --------       Principal Amount        in Principal Amount   decrease (or         Trustee or Note
    Exchange       of this Global Note     of this Global Note   increase)            Custodian
    --------       -------------------     -------------------   ---------            ---------
<S> <C>            <C>                     <C>                   <C>                  <C>

</TABLE>

                                      A-6
<PAGE>

                                    EXHIBIT B

FORM OF CERTIFICATE OF TRANSFER

Precision Castparts Corp.
4650 S.W. Macadam Avenue, Suite 240
Portland, Oregon 97201-4254

[REGISTRAR ADDRESS BLOCK]

      Re: 8.75% SENIOR NOTES DUE 2005

            Reference is hereby made to the Indenture, dated as of December 17,
1997, as supplemented by the Officer's Certificate dated March 3, 2000 (the
"INDENTURE"), between Precision Castparts Corp., as issuer (the "COMPANY"), and
Bank One Trust Company, N.A. (successor in interest to The First National Bank
of Chicago), as trustee.  Capitalized terms used but not defined herein shall
have the meanings given to them in the Indenture.

            ___________________, (the "TRANSFEROR") owns and proposes to
transfer the Note[s] or interest in such Note[s] specified in Annex A hereto,
in the principal amount of $___________ in such Note[s] or interests (the
"TRANSFER"), to  ___________________________ (the "TRANSFEREE"), as further
specified in Annex A hereto.  In connection with the Transfer, the Transferor
hereby certifies that:

[CHECK ALL THAT APPLY]

      1.    / /     CHECK IF TRANSFEREE WILL TAKE DELIVERY OF A BENEFICIAL
INTEREST IN THE 144A GLOBAL NOTE OR A DEFINITIVE NOTE PURSUANT TO RULE 144A.
The Transfer is being effected pursuant to and in accordance with Rule 144A
under the United States Securities Act of 1933, as amended (the "Securities
Act"), and, accordingly, the Transferor hereby further certifies that the
beneficial interest or Definitive Note is being transferred to a Person that
the Transferor reasonably believed and believes is purchasing the beneficial
interest or Definitive Note for its own account, or for one or more accounts
with respect to which such Person exercises sole investment discretion, and
such Person and each such account is a "qualified institutional buyer" within
the meaning of Rule 144A in a transaction meeting the requirements of Rule 144A
and such Transfer is in compliance with any applicable blue sky securities laws
of any state of the United States.  Upon consummation of the proposed Transfer
in accordance with the terms of the Indenture, the transferred beneficial
interest or Definitive Note will be subject to the restrictions on transfer
enumerated in the Private Placement Legend printed on the 144A Global Note
and/or the Definitive Note and in the Indenture and the Securities Act.

      2.    / /     CHECK IF TRANSFEREE WILL TAKE DELIVERY OF A BENEFICIAL
INTEREST IN THE REGULATION S GLOBAL NOTE OR A DEFINITIVE NOTE PURSUANT TO
REGULATION S.  The Transfer is being effected pursuant to and in accordance
with Rule 903 or Rule 904 under the Securities Act and, accordingly, the
Transferor hereby further certifies that (i) the Transfer is not being made to
a person in the United States and (x) at the time the buy order was originated,
the Transferee was

<PAGE>

outside the United States or such Transferor and any Person acting on its behalf
reasonably believed and believes that the Transferee was outside the United
States or (y) the transaction was executed in, on or through the facilities of a
designated offshore securities market and neither such Transferor nor any Person
acting on its behalf knows that the transaction was prearranged with a buyer in
the United States, (ii) no directed selling efforts have been made in
contravention of the requirements of Rule 903(b) or Rule 904(b) of Regulation S
under the Securities Act, (iii) the transaction is not part of a plan or scheme
to evade the registration requirements of the Securities Act and (iv) if the
proposed transfer is being made prior to the expiration of the Restricted
Period, the transfer is not being made to a U.S. Person or for the account or
benefit of a U.S. Person (other than an initial purchaser). Upon consummation of
the proposed transfer in accordance with the terms of the Indenture, the
transferred beneficial interest or Definitive Note will be subject to the
restrictions on Transfer enumerated in the Private Placement Legend printed on
the Regulation S Global Note and/or the Definitive Note and in the Indenture and
the Securities Act.

      3.    / /     CHECK AND COMPLETE IF TRANSFEREE WILL TAKE DELIVERY OF A
BENEFICIAL INTEREST IN THE IAI GLOBAL NOTE OR A DEFINITIVE NOTE PURSUANT TO ANY
PROVISION OF THE SECURITIES ACT OTHER THAN RULE 144A OR REGULATION S.  The
Transfer is being effected in compliance with the transfer restrictions
applicable to beneficial interests in Restricted Global Notes and Restricted
Definitive Notes and pursuant to and in accordance with the Securities Act and
any applicable blue sky securities laws of any state of the United States, and
accordingly the Transferor hereby further certifies that (check one):

     (a)    / /     such Transfer is being effected pursuant to and in
     accordance with Rule 144 under the Securities Act;

or

     (b)    / /     such Transfer is being effected to the Company or a
     subsidiary thereof;

or

     (c)    / /     such Transfer is being effected pursuant to an effective
     registration statement under the Securities Act and in compliance with the
     prospectus delivery requirements of the Securities Act;

or

     (d)    / /     such Transfer is being effected to an Institutional
     Accredited Investor and pursuant to an exemption from the registration
     requirements of the Securities Act other than Rule 144A, Rule 144 or Rule
     904, and the Transferor hereby further certifies that it has not engaged
     in any general solicitation within the meaning of Regulation D under the
     Securities Act and the Transfer complies with the transfer restrictions
     applicable to beneficial interests in a Restricted Global Note or
     Restricted Definitive Notes and the requirements of the exemption claimed,
     which certification is supported by (1) a certificate executed by the
     Transferee in the form of EXHIBIT D to the Indenture and (2) if such
     Transfer is in respect of a principal amount of Notes at the time of
     transfer of less

                                      B-2
<PAGE>

     than $250,000, an Opinion of Counsel provided by the Transferor or the
     Transferee (a copy of which the Transferor has attached to this
     certification), to the effect that such Transfer is in compliance with the
     Securities Act. Upon consummation of the proposed transfer in accordance
     with the terms of the Indenture, the transferred beneficial interest or
     Definitive Note will be subject to the restrictions on transfer enumerated
     in the Private Placement Legend printed on the IAI Global Note and/or the
     Definitive Notes and in the Indenture and the Securities Act.

      4.    / /     CHECK IF TRANSFEREE WILL TAKE DELIVERY OF A BENEFICIAL
INTEREST IN AN UNRESTRICTED GLOBAL NOTE OR OF AN UNRESTRICTED DEFINITIVE NOTE.

               (a)  / /  CHECK IF TRANSFER IS PURSUANT TO RULE 144. (i) The
Transfer is being effected pursuant to and in accordance with Rule 144 under the
Securities Act and in compliance with the transfer restrictions contained in the
Indenture and any applicable blue sky securities laws of any state of the United
States and (ii) the restrictions on transfer contained in the Indenture and the
Private Placement Legend are not required in order to maintain compliance with
the Securities Act. Upon consummation of the proposed Transfer in accordance
with the terms of the Indenture, the transferred beneficial interest or
Definitive Note will no longer be subject to the restrictions on transfer
enumerated in the Private Placement Legend printed on the Restricted Global
Notes, on Restricted Definitive Notes and in the Indenture.

               (b)  / /  CHECK IF TRANSFER IS PURSUANT TO REGULATION S. (i) The
Transfer is being effected pursuant to and in accordance with Rule 903 or Rule
904 under the Securities Act and in compliance with the transfer restrictions
contained in the Indenture and any applicable blue sky securities laws of any
state of the United States and (ii) the restrictions on transfer contained in
the Indenture and the Private Placement Legend are not required in order to
maintain compliance with the Securities Act. Upon consummation of the proposed
Transfer in accordance with the terms of the Indenture, the transferred
beneficial interest or Definitive Note will no longer be subject to the
restrictions on transfer enumerated in the Private Placement Legend printed on
the Restricted Global Notes, on Restricted Definitive Notes and in the
Indenture.

               (c)  / /  CHECK IF TRANSFER IS PURSUANT TO OTHER EXEMPTION. (i)
The Transfer is being effected pursuant to and in compliance with an exemption
from the registration requirements of the Securities Act other than Rule 144,
Rule 903 or Rule 904 and in compliance with the transfer restrictions contained
in the Indenture and any applicable blue sky securities laws of any State of the
United States and (ii) the restrictions on transfer contained in the Indenture
and the Private Placement Legend are not required in order to maintain
compliance with the Securities Act. Upon consummation of the proposed Transfer
in accordance with the terms of the Indenture, the transferred beneficial
interest or Definitive Note will not be subject to the restrictions on transfer
enumerated in the Private Placement Legend printed on the Restricted Global
Notes or Restricted Definitive Notes and in the Indenture.

                                      B-3
<PAGE>

            This certificate and the statements contained herein are made for
your benefit and the benefit of the Company.

                                        ________________________________________
                                              [Insert Name of Transferor]

                                        By:_____________________________________
                                           Name:
                                           Title:
Dated:___________________

                                      B-4
<PAGE>

                       ANNEX A TO CERTIFICATE OF TRANSFER

   1.  The Transferor owns and proposes to transfer the following:

[CHECK ONE OF (a) OR (b)]

     (a)    / /     a beneficial interest in the:

                (i)      / /  144A Global Note (CUSIP       ), or

                (ii)     / /  Regulation S Global Note (CUSIP         ), or

                (iii)    / /  IAI Global Note (CUSIP        ); or

     (b)    / /     a Restricted Definitive Note.

   2.  After the Transfer the Transferee will hold:

[CHECK ONE]

     (a)  / /    a beneficial interest in the:

                (i)      / /  144A Global Note (CUSIP       ), or

                (ii)     / /  Regulation S Global Note (CUSIP         ), or

                (iii)    / /  IAI Global Note (CUSIP        ); or

                (iv)     / /  Unrestricted Global Note (CUSIP         ); or

     (b)    / /     a Restricted Definitive Note; or

     (c)    / /     an Unrestricted Definitive Note,

     in accordance with the terms of the Indenture.

                                      B-5
<PAGE>

                                    EXHIBIT C

FORM OF CERTIFICATE OF EXCHANGE

Precision Castparts Corp.
4650 S.W. Macadam Avenue, Suite 240
Portland, Oregon 97201-4254

[REGISTRAR ADDRESS BLOCK]

            Re: 8.75% Senior Notes Due 2005
                ---------------------------

(CUSIP ____________)

            Reference is hereby made to the Indenture, dated as of  December
17, 1997 as supplemented by the Officer's Certificate dated March 3, 2000 (the
"INDENTURE"), between Precision Castparts Corp., as issuer (the "COMPANY"), and
Bank One Trust Company, N.A. (successor in interest to The First National Bank
of Chicago), as trustee.  Capitalized terms used but not defined herein shall
have the meanings given to them in the Indenture.

            __________________________, (the "OWNER") owns and proposes to
exchange the Note[s] or interest in such Note[s] specified herein, in the
principal amount of $____________ in such Note[s] or interests (the
"EXCHANGE").  In connection with the Exchange, the Owner hereby certifies that:

            1.      EXCHANGE OF RESTRICTED DEFINITIVE NOTES OR BENEFICIAL
INTERESTS IN A RESTRICTED GLOBAL NOTE FOR UNRESTRICTED DEFINITIVE NOTES OR
BENEFICIAL INTERESTS IN AN UNRESTRICTED GLOBAL NOTE

            (a)     / /  CHECK IF EXCHANGE IS FROM BENEFICIAL INTEREST IN A
RESTRICTED GLOBAL NOTE TO BENEFICIAL INTEREST IN AN UNRESTRICTED GLOBAL NOTE.
In connection with the Exchange of the Owner's beneficial interest in a
Restricted Global Note for a beneficial interest in an Unrestricted Global Note
in an equal principal amount, the Owner hereby certifies (i) the beneficial
interest is being acquired for the Owner's own account without transfer, (ii)
such Exchange has been effected in compliance with the transfer restrictions
applicable to the Global Notes and pursuant to and in accordance with the
United States Securities Act of 1933, as amended (the "SECURITIES ACT"), (iii)
the restrictions on transfer contained in the Indenture and the Private
Placement Legend are not required in order to maintain compliance with the
Securities Act and (iv) the beneficial interest in an Unrestricted Global Note
is being acquired in compliance with any applicable blue sky securities laws of
any state of the United States.

            (b)     / /  CHECK IF EXCHANGE IS FROM BENEFICIAL INTEREST IN A
RESTRICTED GLOBAL NOTE TO UNRESTRICTED DEFINITIVE NOTE.  In connection with the
Exchange of the Owner's beneficial interest in a Restricted Global Note for an
Unrestricted Definitive Note, the Owner hereby certifies (i) the Definitive
Note is being acquired for the Owner's own account without transfer, (ii) such
Exchange has been effected in compliance with the transfer restrictions
applicable to the Restricted Global Notes and pursuant to and in accordance
with the Securities

                                       C-1
<PAGE>

Act, (iii) the restrictions on transfer contained in the Indenture and the
Private Placement Legend are not required in order to maintain compliance with
the Securities Act and (iv) the Definitive Note is being acquired in compliance
with any applicable blue sky securities laws of any state of the United States.

            (c)     / /  CHECK IF EXCHANGE IS FROM RESTRICTED DEFINITIVE NOTE
TO BENEFICIAL INTEREST IN AN UNRESTRICTED GLOBAL NOTE.  In connection with the
Owner's Exchange of a Restricted Definitive Note for a beneficial interest in
an Unrestricted Global Note, the Owner hereby certifies (i) the beneficial
interest is being acquired for the Owner's own account without transfer, (ii)
such Exchange has been effected in compliance with the transfer restrictions
applicable to Restricted Definitive Notes and pursuant to and in accordance
with the Securities Act, (iii) the restrictions on transfer contained in the
Indenture and the Private Placement Legend are not required in order to
maintain compliance with the Securities Act and (iv) the beneficial interest is
being acquired in compliance with any applicable blue sky securities laws of
any state of the United States.

            (d)     / /  CHECK IF EXCHANGE IS FROM RESTRICTED DEFINITIVE NOTE
TO UNRESTRICTED DEFINITIVE NOTE.  In connection with the Owner's Exchange of a
Restricted Definitive Note for an Unrestricted Definitive Note, the Owner
hereby certifies (i) the Unrestricted Definitive Note is being acquired for the
Owner's own account without transfer, (ii) such Exchange has been effected in
compliance with the transfer restrictions applicable to Restricted Definitive
Notes and pursuant to and in accordance with the Securities Act, (iii) the
restrictions on transfer contained in the Indenture and the Private Placement
Legend are not required in order to maintain compliance with the Securities Act
and (iv) the Unrestricted Definitive Note is being acquired in compliance with
any applicable blue sky securities laws of any state of the United States.

            2.      EXCHANGE OF RESTRICTED DEFINITIVE NOTES OR BENEFICIAL
INTERESTS IN RESTRICTED GLOBAL NOTES FOR RESTRICTED DEFINITIVE NOTES OR
BENEFICIAL INTERESTS IN RESTRICTED GLOBAL NOTES

            (a)     / /  CHECK IF EXCHANGE IS FROM BENEFICIAL INTEREST IN A
RESTRICTED GLOBAL NOTE TO RESTRICTED DEFINITIVE NOTE.  In connection with the
Exchange of the Owner's beneficial interest in a Restricted Global Note for a
Restricted Definitive Note with an equal principal amount, the Owner hereby
certifies that the Restricted Definitive Note is being acquired for the Owner's
own account without transfer.  Upon consummation of the proposed Exchange in
accordance with the terms of the Indenture, the Restricted Definitive Note
issued will continue to be subject to the restrictions on transfer enumerated
in the Private Placement Legend printed on the Restricted Definitive Note and
in the Indenture and the Securities Act.

            (b)     CHECK IF EXCHANGE IS FROM RESTRICTED DEFINITIVE NOTE TO
BENEFICIAL INTEREST IN A RESTRICTED GLOBAL NOTE.  In connection with the
Exchange of the Owner's Restricted Definitive Note for a beneficial interest in
the [CHECK ONE] / / 144A Global Note, / / Regulation S Global Note, / / IAI
Global Note with an equal principal amount, the Owner hereby certifies (i) the
beneficial interest is being acquired for the Owner's own account without
transfer and (ii) such Exchange has been effected in compliance with the
transfer restrictions applicable to the Restricted Global Notes and pursuant to
and in accordance with the Securities

                                      C-2
<PAGE>

Act, and in compliance with any applicable blue sky securities laws of any state
of the United States. Upon consummation of the proposed Exchange in accordance
with the terms of the Indenture, the beneficial interest issued will be subject
to the restrictions on transfer enumerated in the Private Placement Legend
printed on the relevant Restricted Global Note and in the Indenture and the
Securities Act.

            This certificate and the statements contained herein are made for
your benefit and the benefit of the Company.

                                        ________________________________________
                                              [Insert Name of Transferor]

                                        By:_____________________________________
                                        Name:
                                        Title:
Dated:____________________

                                      C-3
<PAGE>

                                    EXHIBIT D

FORM OF CERTIFICATE FROM
ACQUIRING INSTITUTIONAL ACCREDITED INVESTOR

Precision Castparts Corp.
4650 S.W. Macadam Avenue, Suite 240
Portland, Oregon 97201-4254

[REGISTRAR ADDRESS BLOCK]

            Re: 8.75% SENIOR NOTES DUE 2005

            Reference is hereby made to the Indenture, dated as of December 17,
1997 as supplemented by the Officer's Certificate dated March 3, 2000 (the
"INDENTURE"), between Precision Castparts Corp., as issuer (the "COMPANY"), and
Bank One Trust Company, N.A. (successor in interest to The First National Bank
of Chicago), as trustee.  Capitalized terms used but not defined herein shall
have the meanings given to them in the Indenture.

            In connection with our proposed purchase of $____________ aggregate
principal amount of:

            (a)     / /  a beneficial interest in a Global Note, or

            (b)     / /  a Definitive Note,

            we confirm that:

            1.      We understand that any subsequent transfer of the Notes or
any interest therein is subject to certain restrictions and conditions set
forth in the Indenture and the undersigned agrees to be bound by, and not to
resell, pledge or otherwise transfer the Notes or any interest therein except
in compliance with, such restrictions and conditions and the United States
Securities Act of 1933, as amended (the "SECURITIES ACT").

            2.      We understand that the offer and sale of the Notes have not
been registered under the Securities Act, and that the Notes and any interest
therein may not be offered or sold except as permitted in the following
sentence.  We agree, on our own behalf and on behalf of any accounts for which
we are acting as hereinafter stated, that if we should sell the Notes or any
interest therein, we will do so only (A) to the Company or any subsidiary
thereof, (B) in accordance with Rule 144A under the Securities Act to a
"qualified institutional buyer" (as defined therein), (C) to an institutional
"accredited investor" (as defined below) that, prior to such transfer,
furnishes (or has furnished on its behalf by a U.S. broker-dealer) to you and
to the Company a signed letter substantially in the form of this letter and [,
if such transfer is in respect of a principal amount of Notes, at the time of
transfer of less than $250,000,] an Opinion of Counsel in form reasonably
acceptable to the Company to the effect that such transfer is in compliance
with the Securities Act, (D) outside the United States in accordance with Rule
904 of

                                      D-1
<PAGE>

Regulation S under the Securities Act, (E) pursuant to the provisions of Rule
144(k) under the Securities Act or (F) pursuant to an effective registration
statement under the Securities Act, and we further agree to provide to any
person purchasing the Definitive Note or beneficial interest in a Global Note
from us in a transaction meeting the requirements of clauses (A) through (E) of
this paragraph a notice advising such purchaser that resales thereof are
restricted as stated herein.

            3.      We understand that, on any proposed resale of the Notes or
beneficial interest therein, we will be required to furnish to you and the
Company such certifications, legal opinions and other information as you and
the Company may reasonably require to confirm that the proposed sale complies
with the foregoing restrictions.  We further understand that the Notes
purchased by us will bear a legend to the foregoing effect.

            4.      We are an institutional "accredited investor" (as defined
in Rule 501(a)(1), (2), (3) or (7) of Regulation D under the Securities Act)
and have such knowledge and experience in financial and business matters as to
be capable of evaluating the merits and risks of our investment in the Notes,
and we and any accounts for which we are acting are each able to bear the
economic risk of our or its investment.

            5.      We are acquiring the Notes or beneficial interest therein
purchased by us for our own account or for one or more accounts (each of which
is an institutional "accredited investor") as to each of which we exercise sole
investment discretion.

            You and the Company are entitled to rely upon this letter and are
irrevocably authorized to produce this letter or a copy hereof to any
interested party in any administrative or legal proceedings or official inquiry
with respect to the matters covered hereby.

                                        ________________________________________
                                          [Insert Name of Accredited Investor]

                                        By:_____________________________________
                                           Name:
                                           Title:
Dated:__________________

                                      D-2

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