Document:

EXHIBIT 10.1

                              STANDSTILL AGREEMENT

                                     BETWEEN

                         MARKETING SERVICES GROUP, INC.

                                       AND

                      CASTLE CREEK TECHNOLOGY PARTNERS LLC

                          DATED AS OF FEBRUARY 19, 2002

      Agreement dated as of February 19, 2002 between Marketing Services Group,
Inc., a Nevada corporation (the "Company"), and Castle Creek Technology Partners
LLC, a Delaware limited liability company ("CCP").

      Whereas, CCP owns 14,101.44 shares of Series E Convertible Preferred Stock
of the Company, stated value $1,000 per share (the "Series E Preferred Stock");
and

      Whereas, the Company and CCP agree that it is in their mutual interests to
enter into this Agreement as hereinafter described:

      Now, therefore, in consideration of the premises and the mutual covenants
and agreements set forth herein, the parties hereto covenant and agree as
follows:

      1.  REPRESENTATIONS OF CCP. CCP represents and warrants to the Company as
follows:

          (a) CCP beneficially owns 14,101.44 shares of Series E Preferred Stock
      as of the date of this Agreement, and does not have a right to vote or
      direct the vote of any securities of the Company other than to the extent
      that shares of the Company's common stock are issued to and held by CCP
      upon conversion of shares of Series E Preferred Stock in accordance with
      the terms of the Certificate of Designations (as defined below).

          (b) CCP has full and complete authority to enter into this Agreement
      and to perform its obligations hereunder. This Agreement constitutes a
      valid and binding agreement of CCP enforceable in accordance with its
      terms.

          (c) There are no arrangements, agreements, or understandings between
      CCP and any other person regarding ownership or voting of securities of
      the Company.

      2.  REPRESENTATIONS OF THE COMPANY. The Company represents and warrants to
CCP as follows:

          (a) The Company has full and complete authority to enter into this
      Agreement and to perform its obligations hereunder. This Agreement
      constitutes a valid and binding agreement of the Company enforceable in
      accordance with its terms.

          (b) The Company has sufficient capital available to fulfill its
      payment obligations set forth in Section 4(a) herein.

          (c) The execution, delivery and performance of this Agreement by the
      Company will not conflict with or result in a breach, violation or default
      under the Company's Certificate of Incorporation or Bylaws or any
      agreement, contract or instrument to which the Company is a party.

          (d) The Company is not required to obtain any consent, authorization
      or order of any court, governmental authority, regulatory agency or third
      parties in order to execute, deliver or perform its obligations under this
      Agreement.

      3.  OBLIGATIONS OF CCP. During the term of this Agreement (as defined in
Paragraph 5 below), CCP hereby agrees that:

          (a) CCP will not, without the prior consent of the board of directors
      of the Company (the "Board of Directors") (specifically expressed in a
      resolution adopted by a majority of the Board of Directors):

              (i) acquire, or permit any affiliate (as such term is defined by
          Rule 12b-2 of Regulation 12B under the Securities Exchange Act of
          1934, as amended (the "Act")) of CCP acting under CCP's direction or
          control to acquire (other than through stock splits or stock
          dividends), directly or indirectly or in conjunction with or through
          any other person, by purchase or otherwise, beneficial ownership of
          any additional securities of the Company;

              (ii) make any short sales, enter into any hedging, derivative or
          similar transactions regarding securities of the Company;

<PAGE>

              (iii) directly or indirectly or through any other person, solicit
          or permit any affiliate of CCP acting under CCP's direction or control
          to solicit proxies under any circumstance; or become a "participant,"
          or permit any affiliate of CCP to become a "participant," in any
          "election contest" relating to the election of directors of the
          Company (as such terms are used in Rule 14a-11 of Regulation 14A under
          the Act);

              (iv) deposit, or permit any affiliate of CCP acting under CCP's
          direction or control to deposit securities of the Company in a voting
          trust, or subject, or permit any affiliate of CCP to subject, any
          securities of the Company to a voting or similar agreement;

              (v) directly or indirectly or through or in conjunction with any
          other person, engage in a tender or exchange offer for the securities
          of the Company made by any other person or entity;

              (vi) take any action alone or in concert with any other person to
          acquire or affect the control of the Company or, directly or
          indirectly, participate in, or encourage the formation of, any group
          seeking to obtain or take control of the Company;

              (vii) except as otherwise provided herein, sell, transfer, pledge
          or otherwise dispose of or encumber any securities of the Company; or

              (viii) publicly announce an intention to do any of the actions
          restricted or prohibited under clauses (i) through (vii) of this
          Section 3(a).

      Notwithstanding anything in this Agreement to the contrary, CCP shall not
be prohibited or restricted from selling, assigning or transferring any shares
of Series E Preferred Stock; provided that the buyer, assignee or transferee
agrees to be bound by the terms of this Agreement.

          (b) CCP hereby waives such rights as it may have to require the
      Company to effect a Trading Market Redemption as described in Article V.B
      of the Certificate of Designations, Preferences, and Rights of Series E
      Convertible Preferred Stock of the Company (the "Certificate of
      Designations")) as a result of the Company's failure to obtain Stockholder
      Approval (as defined in Article VI.A(b) of the Certificate of
      Designations; provided, however, that such waiver shall expire, and CCP
      shall have, and the Company hereby acknowledges, the right to require the
      Company to effect a Trading Market Redemption in the event that: (i) the
      Company has not filed a preliminary prospectus on or before July 31, 2002;
      (ii) the Company has not obtained Stockholder Approval on or before
      September 17, 2002 or (iii) this Agreement is terminated pursuant to
      paragraph 5 hereof.

      4.  OBLIGATIONS OF THE COMPANY. The Company hereby agrees:

          (a) to repurchase 2,500 shares of Series E Preferred Stock on the date
      of execution of this Agreement at a purchase price of $2,500,000 (the
      "Payment"); and

          (b) to file with the Securities and Exchange Commission, on or before
      July 31, 2002 a preliminary proxy statement mutually acceptable to both
      parties pursuant to Regulation 14A of the Act that seeks to obtain and
      recommends Stockholder Approval, and to hold the stockholder meeting
      described therein on or before September 17, 2002. CCP acknowledges that,
      if Stockholder Approval is obtained on or before such date, CCP shall have
      no right to effect a Trading Market Redemption.

      5.  TERM. The term of this Agreement shall commence upon the occurrence of
each of the following: (a) the receipt by CCP of the Payment and (b) the
execution by the Company and RGC International Investors, LDC of a standstill
agreement in the form of this Agreement, and terminate on July 31, 2002;
provided, however, (i) this Agreement may be terminated by the Company upon a
breach by CCP of Section 3(a) hereof, and (ii) this Agreement may be terminated
by CCP upon (x) a breach by the Company of any of its obligations hereunder
(including Section 7(a)), (y) a material adverse change in the business,
operations, assets, financial condition or prospects of the Company or its
subsidiaries, or (z) the public announcement of the sale, conveyance or
disposition of all or substantially all of the assets of the Company, the
effectuation by the Company of a transaction or series of related transactions
in which more than 50% of the voting power of the Company is disposed of, or the
consolidation, merger or other business combination of the Company with or into
any other entity or entities when the Company is not the survivor. Upon any such
termination, the parties shall have no further obligations under this Agreement.

      6.  SPECIFIC ENFORCEMENT. The parties hereto recognize and agree that, in
the event that any of the terms of paragraphs 3 and 4 were not performed in
accordance with their specific terms or were otherwise breached, immediate
irreparable injury would be caused, for which there is no adequate remedy at
law. It is accordingly agreed that in the event of a failure by either party to
perform its obligations hereunder, any other party shall be entitled to specific
performance through injunctive relief to prevent breaches of the terms of such
paragraphs and to specifically enforce such paragraphs and the terms and
provisions thereof in any action instituted in any court of the United States or
any state thereof having subject matter jurisdiction, without the posting of any
bond or other security, in addition to any other remedy to which the party may
be entitled, at law or in equity.

<PAGE>

      7.  MISCELLANEOUS.

          (a) STANDSTILL AGREEMENT WITH RGC INTERNATIONAL INVESTORS, LDC. The
      Company hereby acknowledges that this Agreement confers economic benefits
      upon CCP that are not materially less beneficial as the Company has
      conferred upon RGC International Investors, LDC pursuant to a standstill
      agreement dated of even date herewith ("RGC Standstill"). The Company
      further acknowledges that the RGC Standstill contains provisions which are
      not materially different from this Agreement with respect to events of
      termination.

          (b) SEVERABILITY. If any term, provision, covenant or restriction of
      this Agreement is held by a court of competent jurisdiction to be invalid,
      void or unenforceable, the remainder of the terms, provisions, covenants
      and restrictions of this Agreement shall remain in full force and effect
      and shall in no way be affected, impaired or invalidated. It is hereby
      stipulated and declared to be the intention of the parties that they would
      have executed the remaining terms, provisions, covenants and restrictions
      without including any of such which may be hereafter declared invalid,
      void or unenforceable.

          (c) EXPENSES. Each party hereto shall pay its own expenses incurred in
      connection with this Agreement.

          (d) SUCCESSORS AND ASSIGNS. This Agreement shall be binding upon and
      shall inure to the benefit of and be enforceable by the successors and
      assigns, and transferees by operation of law, of the parties hereto or
      otherwise bound hereby, whether or not any such person is a party hereto.
      Except as otherwise expressly provided for herein, this Agreement shall
      not inure to the benefit of, be enforceable by or create any right or
      cause of action in any person, including without limitation any
      shareholder of the Company, other than the parties hereto.

          (e) SURVIVAL OF REPRESENTATIONS, WARRANTIES, AND AGREEMENTS. All
      representations, warranties, covenants and agreements made herein shall
      survive the execution and delivery of this Agreement.

          (f) ENTIRE AGREEMENT. This Agreement contains the entire agreement of
      the parties hereto with respect to the subject matter hereof. No oral
      understandings, statements, promises or inducements contrary to the terms
      of this Agreement exist.

          (g) AMENDMENTS. This Agreement may not be modified, amended, altered
      or supplemented except upon the execution and delivery of a written
      agreement executed by the parties hereto. However, a party may (but is
      under no obligation to) waive in writing any condition to the obligations
      of the other party hereunder.

          (h) PUBLICITY. Neither party shall use, directly or indirectly, the
      other party's name or the name of any of its affiliates in any
      advertisement, announcement, press release or other similar communication
      unless it has received the prior written consent of such other party for
      the specific use contemplated or as otherwise required by applicable law
      or regulation.

          (i) NOTICES. All notices, requests, claims, demands and other
      communications hereunder shall be in writing and shall be given (and shall
      be deemed to have been duly delivered when received) by hand delivery, by
      verifiable facsimile, by overnight delivery or by mail (registered or
      certified mail, postage prepaid, return receipt requested) to the
      respective parties as follows:

          If to the Company:
          Marketing Services Group, Inc.
          333 Seventh Avenue, 20th Floor
          New York, New York 10001
          Attention: J. Jeremy Barbera
          Facsimile: (917) 339-7111

          with a copy to:

          Greenberg Traurig, LLP
          200 Park Avenue
          14th Floor
          New York, New York 10166
          Attention:  Alan I. Annex, Esq.
          Facsimile:  (212) 801-6400

          If to CCP:

          Castle Creek Technology Partners LLC
          111 West Jackson Boulevard
          Suite 2020
          Chicago, Illinois 60604
          Attention:
          Facsimile:  (312) 499-6999

<PAGE>

          with a copy to:

          Solomon, Zauderer, Ellenhorn, Frischer & Sharp
          45 Rockefeller Plaza
          New York, New York 10111
          Attention: Robert L. Mazzeo, Esq.
          Facsimile:  (212) 956-4068

or to such other address as either party may have furnished to the other in
writing in accordance herewith, except that notices of change of address shall
only be effective upon receipt.

          (j) GOVERNING LAW. This Agreement shall be governed by and construed
      in accordance with the substantive law of the State of Delaware without
      giving effect to the principles of conflict of laws thereof.

          (k) COUNTERPARTS. This Agreement may be executed in several
      counterparts, each of which shall be an original, but all of which
      together shall constitute one and the same agreement.

          (l) EFFECT OF HEADINGS. The paragraph headings herein are for
      convenience only and shall not affect the construction thereof.

      In Witness Whereof, Marketing Services Group, Inc. and Castle Creek
Technology Partners LLC have caused this Agreement to be duly executed as of the
day and year first above written.

                                    MARKETING SERVICES GROUP, INC.

                                    By:  /s/ J. JEREMY BARBERA
                                        ---------------------------------
                                        J. Jeremy Barbera
                                        Chairman of the Board and
                                        Chief Executive Officer

                                    CASTLE CREEK TECHNOLOGY PARTNERS LLC

                                    By:  /s/ ALAN WEINE
                                        ---------------------------------
                                        Alan WeineEXHIBIT 10.2

                              STANDSTILL AGREEMENT

                                     BETWEEN

                         MARKETING SERVICES GROUP, INC.

                                       AND

                        RGC INTERNATIONAL INVESTORS, LDC

                          DATED AS OF FEBRUARY 19, 2002

      This Standstill Agreement (this "Agreement"), dated as of February 19,
2002 between Marketing Services Group, Inc., a Nevada corporation (the
"Company"), and RGC International Investors, LDC, a Cayman Islands limited
duration company ("RGC").

      Whereas, RGC owns 14,100.17274 shares of Series E Convertible Preferred
Stock of the Company, stated value $1,000 per share (the "Series E Preferred
Stock"); and

      Whereas, the Company and RGC agree that it is in their mutual interests to
enter into this Agreement as hereinafter described:

      Now, therefore, in consideration of the premises and the mutual covenants
and agreements set forth herein, the parties hereto covenant and agree as
follows:

      1.  REPRESENTATIONS OF RGC. RGC represents and warrants to the Company as
follows:

          (a) RGC beneficially owns 114,100.17274 shares of Series E Preferred
      Stock as of the date of this Agreement, and does not have a right to vote
      or direct the vote of any securities of the Company other than to the
      extent that shares of the Company's common stock are issued to and held by
      RGC upon conversion of shares of Series E Preferred Stock in accordance
      with the terms of the Certificate of Designations (as defined below).

          (b) On February 18, 2000, RGC purchased 15,000 shares of Series E
      Preferred Stock and 122,590 Warrants (as adjusted to reflect the Company's
      1 for 6 reverse stock split which became effective on October 15, 2001).

          (c) RGC has full and complete authority to enter into this Agreement
      and to perform its obligations hereunder. This Agreement constitutes a
      valid and binding agreement of RGC enforceable in accordance with its
      terms.

          (d) There are no arrangements, agreements, or understandings between
      RGC and any other person regarding ownership or voting of securities of
      the Company.

      2.  REPRESENTATIONS OF THE COMPANY. The Company represents and warrants to
RGC as follows:

          (a) The Company has full and complete authority to enter into this
      Agreement and to perform its obligations hereunder. This Agreement
      constitutes a valid and binding agreement of the Company enforceable in
      accordance with its terms.

          (b) The Company has sufficient capital available to fulfill its
      payment obligations set forth in Section 4(a) herein.

          (c) The execution, delivery and performance of this Agreement by the
      Company will not conflict with or result in a breach, violation or default
      under the Company's Certificate of Incorporation or Bylaws or any
      agreement, contract or instrument to which the Company is a party.

          (d) The Company is not required to obtain any consent, authorization
      or order of any court, governmental authority, regulatory agency or third
      parties in order to execute, deliver or perform its obligations under this
      Agreement.

      3.  OBLIGATIONS OF RGC. (a) During the term of this Agreement (as defined
in Paragraph 5 below), RGC hereby agrees that it will not, without the prior
consent of the board of directors of the Company (the "Board of Directors")
(specifically expressed in a resolution adopted by a majority of the Board of
Directors):

               (i) acquire, or permit any affiliate (as such term is defined by
          Rule 12b-2 of Regulation 12B under the Securities Exchange Act of
          1934, as amended (the "Act")) of RGC acting under RGC's direction or
          control to acquire (other than through stock splits or stock
          dividends), directly or indirectly or in conjunction with or through
          any other person, by purchase or otherwise, beneficial ownership of
          any additional securities of the Company;

<PAGE>

               (ii) make any short sales, enter into any hedging, derivative or
          similar transactions regarding securities of the Company;

               (iii) directly or indirectly or through any other person, solicit
          or permit any affiliate of RGC acting under RGC's direction or control
          to solicit proxies under any circumstance; or become a "participant,"
          or permit any affiliate of RGC to become a "participant," in any
          "election contest" relating to the election of directors of the
          Company (as such terms are used in Rule 14a-11 of Regulation 14A under
          the Act);

               (iv) deposit, or permit any affiliate of RGC acting under RGC's
          direction or control to deposit securities of the Company in a voting
          trust, or subject, or permit any affiliate of RGC to subject, any
          securities of the Company to a voting or similar agreement;

               (v) directly or indirectly or through or in conjunction with any
          other person, engage in a tender or exchange offer for the securities
          of the Company made by any other person or entity;

               (vi) take any action alone or in concert with any other person to
          acquire or affect the control of the Company or, directly or
          indirectly, participate in, or encourage the formation of, any group
          seeking to obtain or take control of the Company;

               (vii) except as otherwise provided herein, sell, transfer, pledge
          or otherwise dispose of or encumber any securities of the Company; or

               (viii) publicly announce an intention to do any of the actions
          restricted or prohibited under clauses (i) through (vii) of this
          Section 3(a).

      Notwithstanding anything in this Agreement to the contrary, RGC shall not
be prohibited or restricted from selling, assigning or transferring any shares
of Series E Preferred Stock; provided that the buyer, assignee or transferee
agrees to be bound by the terms of this Agreement.

          (b) RGC hereby agrees not to exercise such rights as it may have to
      invoke a Trading Market Redemption as described in Article V.B of the
      Certificate of Designations, Preferences, and Rights of Series E
      Convertible Preferred Stock of The Company (the "Certificate of
      Designations")) as a result of the Company's failure to obtain Stockholder
      Approval (as defined in Article VI.A(b) of the Certificate of
      Designations; provided, however, that such agreement shall expire, and RGC
      shall regain all of its rights under the Certificate of Designations as it
      had prior to such agreement with respect to a Trading Market Redemption
      upon the earlier of (i) September 17, 2002, in the event the Company has
      not obtained Stockholder Approval by that date, or (ii) the occurrence of
      an event described in Section 5(ii)(y) and (z) below.

      4.  OBLIGATIONS OF THE COMPANY. The Company hereby agrees:

          (a) to repurchase 2,500 shares of Series E Preferred Stock on the date
      of execution of this Agreement at a purchase price of $2,500,000 (the
      "Payment"); and

          (b) to file with the Securities and Exchange Commission, on or before
      July 31, 2002 a preliminary proxy statement mutually acceptable to both
      parties pursuant to Regulation 14A of the Act that seeks to obtain and
      recommend Stockholder Approval no later than September 17, 2002.

      5.  TERM. The term of this Agreement shall commence upon the occurrence of
each of the following: (a) the receipt by RGC of the Payment and (b) the
execution by the Company and Castle Creek Technology Partners, LLC of a
standstill agreement in the form of this Agreement, and terminate on July 31,
2002; provided, however, (i) this Agreement may be terminated by the Company
upon a breach by RGC of Section 3(a) hereof, and (ii) this Agreement may be
terminated by RGC upon (x) a breach by the Company of any of its obligations
hereunder (including Section 7(a)), (y) a material adverse change in the
business, operations, assets, financial condition or prospects of the Company or
its subsidiaries, or (z) the public announcement of the sale, conveyance or
disposition of all or substantially all of the assets of the Company, the
effectuation by the Company of a transaction or series of related transactions
in which more than 50% of the voting power of the Company is disposed of, or the
consolidation, merger or other business combination of the Company with or into
any other entity or entities when the Company is not the survivor. Upon any such
termination, the parties shall have no further obligations under this Agreement.

      6.  SPECIFIC ENFORCEMENT. The parties hereto recognize and agree that, in
the event that any of the terms of paragraphs 3 and 4 were not performed in
accordance with their specific terms or were otherwise breached, immediate
irreparable injury would be caused, for which there is no adequate remedy at
law. It is accordingly agreed that in the event of a failure by any party to
perform its obligations hereunder, any other party shall be entitled to specific
performance through injunctive relief to prevent breaches of the terms of such
paragraphs and to specifically enforce such paragraphs and the terms and
provisions thereof in any action instituted in any court of the United States or
any state thereof having subject matter jurisdiction, without the posting of any
bond or other security, in addition to any other remedy to which the party may
be entitled, at law or in equity.

<PAGE>

      7.  MISCELLANEOUS.

          (a) STANDSTILL AGREEMENT WITH CASTLE CREEK TECHNOLOGY PARTNERS LLC.
      The Company hereby acknowledges that this Agreement confers economic
      benefits upon RGC that are not materially less beneficial as the Company
      has conferred upon Castle Creek Technology Partners LLC pursuant to a
      standstill agreement dated of even date herewith ("CCP Standstill"). The
      Company further acknowledges that the CCP Standstill contains provisions
      which are not materially different from this Agreement with respect to
      events of termination.

          (b) SEVERABILITY. If any term, provision, covenant or restriction of
      this Agreement is held by a court of competent jurisdiction to be invalid,
      void or unenforceable, the remainder of the terms, provisions, covenants
      and restrictions of this Agreement shall remain in full force and effect
      and shall in no way be affected, impaired or invalidated. It is hereby
      stipulated and declared to be the intention of the parties that they would
      have executed the remaining terms, provisions, covenants and restrictions
      without including any of such which may be hereafter declared invalid,
      void or unenforceable.

          (c) EXPENSES. Each party hereto shall pay its own expenses incurred in
      connection with this Agreement.

          (d) SUCCESSORS AND ASSIGNS. This Agreement shall be binding upon and
      shall inure to the benefit of and be enforceable by the successors and
      assigns, and transferees by operation of law, of the parties hereto or
      otherwise bound hereby, whether or not any such person is a party hereto.
      Except as otherwise expressly provided for herein, this Agreement shall
      not inure to the benefit of, be enforceable by or create any right or
      cause of action in any person, including without limitation any
      shareholder of the Company, other than the parties hereto.

          (e) SURVIVAL OF REPRESENTATIONS, WARRANTIES, AND AGREEMENTS. All
      representations, warranties, covenants and agreements made herein shall
      survive the execution and delivery of this Agreement.

          (f) ENTIRE AGREEMENT. This Agreement contains the entire agreement of
      the parties hereto with respect to the subject matter hereof. No oral
      understandings, statements, promises or inducements contrary to the terms
      of this Agreement exist.

          (g) AMENDMENTS. This Agreement may not be modified, amended, altered
      or supplemented except upon the execution and delivery of a written
      agreement executed by the parties hereto. However, a party may (but is
      under no obligation to) waive in writing any condition to the obligations
      of the other party hereunder.

          (h) PUBLICITY. During the term of this Agreement, no party to this
      Agreement shall cause, discuss, cooperate or otherwise aid in the
      preparation of any press release or other public announcement or public
      filing concerning this Agreement and the transactions contemplate hereby
      or any other party to this Agreement or its operations without prior
      approval of such other party.

          (i) NOTICES. All notices, requests, claims, demands and other
      communications hereunder shall be in writing and shall be given (and shall
      be deemed to have been duly given if given) by hand delivery, by cable,
      telegram or telex, or by mail (registered or certified mail, postage
      prepaid, return receipt requested) to the respective parties as follows:

          If to the Company:

          Marketing Services Group, Inc.
          333 Seventh Avenue, 20th Floor
          New York, New York 10001
          Attention:  J. Jeremy Barbera
          Facsimile:  (917) 339-7111

          with a copy to:

          Greenberg Traurig, LLP
          200 Park Avenue
          14th Floor
          New York, New York 10166
          Attention:  Alan I. Annex, Esq.
          Facsimile:  (212) 801-6400

          If to RGC:

          c/o Rose Glen Capital Management, L.P.
          3 Bala Plaza East, Suite 501
          251 St. Asaphs Road
          Bala Cynwyd, Pennsylvania 19004
          Attention:  Gary S. Kaminsky
          Facsimile:  (610) 617-0570

<PAGE>

          with a copy to:

          Ballard Spahr Andrews & Ingersoll, LLP
          1735 Market Street, 51st Floor
          Philadelphia, Pennsylvania 19103
          Attention: Gerald J. Guarcini, Esq.
          Facsimile:  (215) 864-8999

or to such other address as either party may have furnished to the other in
writing in accordance herewith, except that notices of change of address shall
only be effective upon receipt.

          (j) GOVERNING LAW. This Agreement shall be governed by and construed
      in accordance with the substantive law of the State of Delaware without
      giving effect to the principles of conflict of laws thereof.

          (k) COUNTERPARTS. This Agreement may be executed in several
      counterparts, each of which shall be an original, but all of which
      together shall constitute one and the same agreement.

          (l) EFFECT OF HEADINGS. The paragraph headings herein are for
      convenience only and shall not affect the construction thereof.

<PAGE>

      IN WITNESS WHEREOF, Marketing Services Group, Inc. and RGC International
Investors, LDC have caused this Agreement to be duly executed as of the day and
year first above written. MARKETING SERVICES GROUP, INC.

                                    By:  /S/  J. JEREMY BARBERA
                                         --------------------------------
                                         J. Jeremy Barbera
                                         Chairman of the Board and
                                         Chief Executive Officer

                                    RGC INTERNATIONAL INVESTORS, LDC

                                    By:  Rose Glen Capital Management, L.P.,
                                         Investment Manager

                                         By:  RGC General Partner Corp.
                                              as General Partner

                                    By:  /S/  GARY S. KAMINSKY
                                         --------------------------------
                                        Gary S. Kaminsky
                                        Managing Director

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00034-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00034-of-00352.parquet"}]]