Document:

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                                                                   EXHIBIT 10.33

                          EXECUTIVE SERVICES AGREEMENT

     THIS EXECUTIVE SERVICES AGREEMENT (the "Agreement") made as of this 19th
day of September, 2000, (the "Effective Date") by and among AQUIS COMMUNICATIONS
GROUP, INC. 1719A Route 10, Suite 300, Parsippany, NJ 07054 (the "Company"),
DEERFIELD PARTNERS, LLC, 20 North Main Street, Suite 120, Sherborn, MA 01770
("Deerfield") and JOHN B. FRIELING ("Frieling").

                                   BACKGROUND:

     The Company wishes to retain Deerfield to provide certain management and
advisory services and to make John B. Frieling available to serve as the
Company's Chief Executive Officer. Deerfield wishes to provide certain
management services and to make Frieling available to serve as the Company's
Chief Executive Officer, and Frieling wishes to provide Executive Services
(defined below in paragraph 1) to the Company, subject to the terms of this
Agreement.

     NOW THEREFORE, in consideration of the above premises and of the Agreement
herein contained, the parties hereto, intending to be legally bound hereby,
agree as follows:

     1. EXECUTIVE SERVICES. Deerfield hereby agrees to make Frieling available
to provide Executive Services to the Company, and Frieling agrees to provide
Executive Services to the Company, upon the terms and conditions set forth
herein. Frieling shall have the position/title of Chief Executive Officer.
Frieling shall perform such duties and have such responsibilities consistent
with the position of Chief Executive Officer and such other positions as shall
be assigned him from time to time by the board of directors of the Company or
its designated representative (the "Executive Services"). Frieling shall not be
prevented during the term of this Agreement from rendering services of a
business, commercial or professional nature for his own account or for any other
person.

     2. TERM OF EMPLOYMENT / TERMS OF AGREEMENT.

          A. The initial term of this Agreement shall be the period commencing
     on the Effective Date and terminating October 31, 2000, unless terminated
     by the first to occur of the following:

               (1) The death of Frieling.

               (2) The termination of Executive Services by Company for Cause.
          "Cause" shall mean (a) the material failure after notice on a
          recurring basis by Frieling to diligently and competently perform his
          duties (as defined from time to time by the board of directors) on
          behalf of Company, (b) conviction of or plea of nolo contender or
          equivalent plea to a felony or other crime involving fraud or
          misrepresentation, or (c) Frieling's engaging in any dishonesty or
          fraud in

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          connection with the provision of Executive Services hereunder or
          misappropriation of the assets of Company.

               (3) The voluntary termination of this Agreement by either
          Deerfield or Frieling.

               (4) The termination by Company of Executive Services without
          Cause.

          B. This Agreement shall automatically renew for additional one-month
     terms on the same terms and conditions as set forth above until terminated
     by the earlier of (i) the non-renewal of the Agreement as of the end of the
     then-current term (by five (5) calendar days advance written notice given
     by any party to the other parties); or (ii) March 31, 2001.

          C. Termination of the Executive Services pursuant to subparagraphs
     2.A. (2) or (4) shall be effected by written notice from Company to
     Deerfield and Frieling, and termination of this Agreement by either
     Deerfield or Frieling pursuant to subparagraph 2.A.(3) shall be effected by
     written notice from Deerfield or Frieling, as appropriate, to Company, and
     in all such cases, such termination shall be effective immediately upon
     delivery of such notice and neither Deerfield nor Frieling thereafter shall
     not be entitled to receive any benefits hereunder except reimbursement for
     reasonable expenses incurred on behalf of Company in the ordinary course of
     business prior to termination.

     3. COMPENSATION. The Company shall pay to Deerfield Eight Thousand Seven
Hundred Fifty Dollars ($8,750) on the Effective Date. Thereafter, for the
duration of the term of this Agreement, including any automatic renewal pursuant
to subparagraph 2.B, Deerfield shall be compensated by the Company by payment of
Seventeen Thousand Five Hundred ($17,500) per month to be paid on the first day
of each month commencing October 1, 2000.

     4. STOCK OPTIONS. Frieling is granted a certain stock option (the "Option")
according to the vesting schedule and at the exercise prices set forth below.
Company and Frieling acknowledge and agree that it is intended that the options
granted hereby are to be Incentive Stock Options under the Amended and Restated
Aquis Communications Group, Inc. 1994 Incentive Stock Option Plan (the "Plan").
A Stock Option Agreement shall be executed as of the Effective Date, including
the following terms:

          A. The Option shall continue in force through September 18, 2005
     unless sooner terminated as provided herein or in the Plan.

          B. The Option shall grant Frieling the right to purchase a total of
     300,000 shares of Company common stock exercisable at the price of $.9625
     per share, according to the following vesting schedule: (i) options to
     purchase 150,000 shares shall vest on the Effective Date, and (ii) options
     to purchase 150,000 shares of Company common stock shall be granted on the
     Effective Date, of which options to purchase 25,000 shares shall

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     vest on the first day of each month commencing October 1, 2000 for the
     duration of the term of this Agreement, including any automatic renewal
     pursuant to subparagraph 2.B.

     5. NOTICES. Any notice required or permitted hereunder shall be sent by
registered or certified mail, return receipt requested, postage prepaid, to the
respective parties hereto at the addresses set forth below, or to such other
address, or in care of such other person, as any party shall designate as his or
its address for such notices by due notice hereunder.

                  If to Frieling:   John B. Frieling
                                    Deerfield Partners, LLC
                                    20 North Main Street
                                    Suite 120
                                    Sherborn, MA 01170

                  If to Deerfield:  Deerfield Partners, LLC
                                    20 North Main Street
                                    Suite 120
                                    Sherborn, MA 01170

                  If to Company:    Aquis Communications Group, Inc.
                                    1719A Route 10
                                    Suite 300
                                    Parsippany, NJ 07054
                                    Telephone:  (973)  560-8001
                                    Facsimile:  (973)  560-8060

                  Copy to:          Joseph P. Galda, Esquire
                                    Buchanan Ingersoll Professional Corporation
                                    Eleven Penn Center
                                    14th Floor
                                    1835 Market Street
                                    Philadelphia, PA 19103-2985
                                    Telephone: (215) 665-3879
                                    Facsimile:  (215) 665 - 8760

     6. GENERAL.

          A. This Agreement shall be governed by and construed in accordance
     with the laws of the State of New Jersey. The parties acknowledge and agree
     that the sole and exclusive jurisdiction and venue for all actions shall be
     the State or Federal courts located in New Jersey and all parties hereby
     consent to such jurisdiction and venue.

          B. The waiver by any party of a breach of any provisions of this
     Agreement by the other party or parties shall not operate or be construed
     as a waiver of any subsequent breach or violation thereof.

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          C. Frieling and Deerfield each acknowledges that their respective
     services are unique and personal. Accordingly, both Frieling and Deerfield
     may not assign their respective rights or delegate their respective duties
     or obligations hereunder. The Company's rights and obligations under this
     Agreement shall be freely assignable by the Company.

          D. This Agreement may not be altered or amended except by an agreement
     in writing signed by all parties.

          E. This Agreement shall be binding upon and inure to the benefit of
     the parties hereto and their respective heirs, executors, administrators,
     personal representatives, successors and assigns. If any provision of this
     Agreement shall be or become illegal or unenforceable, in whole or in part,
     for any reason whatsoever, the remaining provisions shall nevertheless be
     deemed valid, binding and subsisting.

          F. The parties intend to be legally bound by this Agreement.

          G. If any provision of this Agreement or the application thereof is
     held invalid or unenforceable, the invalidity or unenforceability thereof
     shall not affect any other provisions of this Agreement which can be given
     effect without the invalid or unenforceable provision, and to this end the
     provisions of this Agreement are to be severable.

          H. The parties have participated jointly in the negotiation and
     drafting of this Agreement. In the event an ambiguity or question of intent
     or interpretation arises, this Agreement shall be construed as if drafted
     jointly by the parties and no presumption or burden of proof shall arise
     favoring or disfavoring any party by virtue of the authorship of any of the
     provisions of this Agreement.

                [REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK]

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     IN WITNESS WHEREOF, intending to be legally bound hereby, the parties have
executed or caused this Agreement to be executed as of the day first above
written.

                                                     "COMPANY"

ATTEST:                                AQUIS COMMUNICATIONS GROUP, INC.

                                       By: /s/ Patrick Egan
                                          -----------------------------
                                           Patrick Egan
                                       Title: Chairman of the Board

ATTEST:                                DEERFIELD PARTNERS, LLC

                                       By: /s/ John B. Frieling
                                          -----------------------------
                                       Title: Managing Director
                                              -------------------------

WITNESS:

                                       /s/ John B. Frieling
------------------------------         -----------------------------
                                       JOHN B. FRIELING<PAGE>

                 MORGAN STANLEY DEAN WITTER SELECT EQUITY TRUST
                        SELECT GLOBAL 30 PORTFOLIO 2000-4
                            REFERENCE TRUST AGREEMENT

       This Reference Trust Agreement dated September 28, 2000 between
DEAN WITTER REYNOLDS INC., as Depositor, and The Bank of New York, as Trustee,
sets forth certain provisions in full and incorporates other provisions by
reference to the document entitled "Morgan Stanley Dean Witter Select Equity
Trust, Trust Indenture and Agreement" (the "Basic Agreement") dated September
30, 1993 as amended on December 30, 1997. Such provisions as are incorporated by
reference constitute a single instrument (the "Indenture").

                                WITNESSETH THAT:

       In consideration of the premises and of the mutual agreements herein
contained, the Depositor and the Trustee agree as follows:

                                       I.

                     STANDARD TERMS AND CONDITIONS OF TRUST

       Subject to the provisions of Part II hereof, all the provisions contained
in the Basic Agreement are herein incorporated by reference in their entirety
and shall be deemed to be a part of this instrument as fully and to the same
extent as though said provisions had been set forth in full in this instrument
except that the Basic Agreement is hereby amended as follows:

       A.    The first sentence of Section 2.01 is amended to add the following
language at the end of such sentence: "and/or cash (or a letter of credit in
lieu of cash) with instructions to the Trustee to purchase one or more of such
Securities which cash (or cash in an amount equal to the face amount of the
letter of credit), to the extent not used by the Trustee to purchase such
Securities within the 90-day period following the first deposit of Securities in
the Trust, shall be distributed to Unit Holders on the Distribution Date next
following such 90-day period or such earlier date as the Depositor and the
Trustee determine".

       B.    The first sentence of Section 2.06 is amended to add the following
language after "Securities"))": "and/or cash (or a letter of credit in lieu of
cash) with instructions to the Trustee to purchase one or more Additional
Securities which cash (or cash in an amount equal to the face amount of the
letter of credit), to the extent not used by the Trustee to purchase such
Additional Securities within the 90-day period following the first deposit of
Securities in the Trust, shall be distributed to Unit Holders on the
Distribution Date next following such 90-day period or such earlier date as the
Depositor and the Trustee determine".

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       C.    Article III, entitled "Administration of Trust", Section 3.01
Initial Cost shall be amended as follows:

             Section 3.01 Initial Cost shall be amended to substitute the
       following language:

                 SECTION 3.01. INITIAL COST The costs of organizing the Trust
             and sale of the Trust Units shall, to the extent of the expenses
             reimbursable to the Depositor provided below, be borne by the Unit
             Holders, PROVIDED, HOWEVER, that, to the extent all of such costs
             are not borne by Unit Holders, the amount of such costs not borne
             by Unit Holders shall be borne by the Depositor and, PROVIDED
             FURTHER, HOWEVER, that the liability on the part of the Depositor
             under this section shall not include any fees or other expenses
             incurred in connection with the administration of the Trust
             subsequent to the deposit referred to in Section 2.01. Upon
             notification from the Depositor that the primary offering period is
             concluded, the Trustee shall withdraw from the Account or Accounts
             specified in the Prospectus or, if no Account is therein specified,
             from the Principal Account, and pay to the Depositor the
             Depositor's reimbursable expenses of organizing the Trust and sale
             of the Trust Units in an amount certified to the Trustee by the
             Depositor. If the balance of the Principal Account is insufficient
             to make such withdrawal, the Trustee shall, as directed by the
             Depositor, sell Securities identified by the Depositor, or
             distribute to the Depositor Securities having a value, as
             determined under Section 4.01 as of the date of distribution,
             sufficient for such reimbursement. The reimbursement provided for
             in this section shall be for the account of the Unitholders of
             record at the conclusion of the primary offering period and shall
             not be reflected in the computation of the Unit Value prior
             thereto. As used herein, the Depositor's reimbursable expenses of
             organizing the Trust and sale of the Trust Units shall include the
             cost of the initial preparation and typesetting of the registration
             statement, prospectuses (including preliminary prospectuses), the
             indenture, and other documents relating to the Trust, SEC and state
             blue sky registration fees, the cost of the initial valuation of
             the portfolio and audit of the Trust, the initial fees and expenses
             of the Trustee, and legal and other out-of-pocket expenses related
             thereto, but not including the expenses incurred in the printing of
             preliminary prospectuses and prospectuses, expenses incurred in the
             preparation and printing of brochures and other advertising
             materials and any other selling expenses. Any cash which the
             Depositor has identified as to be used for reimbursement of
             expenses pursuant to this Section shall be reserved by the Trustee
             for such purpose and shall not be subject to distribution or,
             unless the Depositor otherwise directs,

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                                       -3-
             used for payment of redemptions in excess of the per-Unit amount
             allocable to Units tendered for redemption.

       D.    The third paragraph of Section 3.05 is hereby amended to add the
following sentence after the first sentence thereof: "Depositor may direct the
Trustee to invest the proceeds of any sale of Securities not required for the
redemption of Units in eligible money market instruments selected by the
Depositor which will include only negotiable certificates of deposit or time
deposits of domestic banks which are members of the Federal Deposit Insurance
Corporation and which have, together with their branches or subsidiaries, more
than $2 billion in total assets, except that certificates of deposit or time
deposits of smaller domestic banks may be held provided the deposit does not
exceed the insurance coverage on the instrument (which currently is $100,000),
and provided further that the Trust's aggregate holding of certificates of
deposit or time deposits issued by the Trustee may not exceed the insurance
coverage of such obligations and U.S. Treasury notes or bills (which shall be
held until the maturity thereof) each of which matures prior to the earlier of
the next following Distribution Date or 90 days after receipt, the principal
thereof and interest thereon (to the extent such interest is not used to pay
Trust expenses) to be distributed on the earlier of the 90th day after receipt
or the next following Distribution Date."

       E.    The first sentence of each of Sections 3.10, 3.11 and 3.12 is
amended to insert the following language at the beginning of such sentence,
"Except as otherwise provided in Section 3.13,".

       F.    The following new Section 3.13 is added:

       Section 3.13. EXTRAORDINARY EVENT - SECURITY RETENTION AND VOTING. In the
event the Trustee is notified of any action to be taken or proposed to be taken
by holders of the securities held by the Trust in connection with any proposed
merger, reorganization, spin-off, split-off or split-up by the issuer of stock
or securities held in the Trust, the Trustee shall take such action or refrain
from taking any action, as appropriate, so as to insure that the securities are
voted as closely as possible in the same manner and in the same general
proportion as are the securities held by owners other than the Trust. If stock
or securities are received by the Trustee, with or without cash, as a result of
any merger, reorganization, spin-off, split-off or split-up by the issuer of
stock or securities held in the Trust, the Trustee at the direction of the
Depositor may retain such stock or securities in the Trust. Neither the
Depositor nor the Trustee shall be liable to any person for any action or
failure to take action with respect to this section.

       G.    Section 1.01 is amended to add the following definition: (9)
"Deferred Sales Charge" shall mean any deferred sales charge payable in
accordance with the provisions of Section 3.14 hereof, as set forth in the
prospectus for a Trust. Definitions following this definition (9) shall be
renumbered.

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                                       -4-
       H.    Section 3.05 is hereby amended to add the following paragraph after
the end thereof: On each Deferred Sales Charge payment date set forth in the
prospectus for a Trust, the Trustee shall pay the account created pursuant to
Section 3.14 the amount of the Deferred Sales Charge payable on each such date
as stated in the prospectus for a Trust. Such amount shall be withdrawn from the
Principal Account from the amounts therein designated for such purpose.

       I.    Section 3.06B(3) shall be amended by adding the following: "and any
Deferred Sales Charge paid".

       J.    Section 3.08 shall be amended by adding the following at the end
thereof: "In order to pay the Deferred Sales Charge, the Trustee shall sell or
liquidate an amount of Securities at such time and from time to time and in such
manner as the Depositor shall direct such that the proceeds of such sale or
liquidation shall equal the amount required to be paid to the Depositor pursuant
to the Deferred Sales Charge program as set forth in the prospectus for a Trust.

       K.    Section 3.14 shall be added as follows:

       Section 3.14. DEFERRED SALES CHARGE. If the prospectus for a Trust
specifies a Deferred Sales Charge, the Trustee shall, on the dates specified in
and as permitted by the prospectus, withdraw from the Income Account if such
account is designated in the prospectus as the source of the payments of the
Deferred Sales Charge, or to the extent funds are not available in that account
or if such account is not so designated, from the Principal Account, an amount
per Unit specified in the prospectus and credit such amount to a special,
non-Trust account maintained at the Trustee out of which the Deferred Sales
Charge will be distributed to the Depositor. If the Income Account is not
designated as the source of the Deferred Sales Charge payment or if the balances
in the Income and Principal Accounts are insufficient to make any such
withdrawal, the Trustee shall, as directed by the Depositor, either advance
funds, if so agreed to by the Trustee, in an amount equal to the proposed
withdrawal and be entitled to reimbursement of such advance upon the deposit of
additional monies in the Income Account or the Principal Account, sell
Securities and credit the proceeds thereof to such special Depositor's account
or credit Securities in kind to such special Depositor's Account. Such
directions shall identify the Securities, if any, to be sold or distributed in
kind and shall contain, if the Trustee is directed by the Depositor to sell a
Security, instructions as to execution of such sales. If a Unit Holder redeems
Units prior to full payment of the Deferred Sales Charge, the Trustee shall, if
so provided in the prospectus, on the Redemption Date, withhold from the
Redemption Price payment to such Unit Holder an amount equal to the unpaid
portion of the Deferred Sales Charge and distribute such amount to such special
Depositor's account or, if the Depositor shall purchase such Unit pursuant to
the terms of Section 5.02 hereof, the Depositor shall pay the Redemption Price
for such Unit less the unpaid portion of the Deferred Sales Charge. The
Depositor may at any time instruct the Trustee to dis-

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                                       -5-
tribute to the Depositor cash or Securities previously credited to the special
Depositor's account.

       L.    The following new Section 3.15 is added:

       Section 3.15. FOREIGN EXCHANGE TRANSACTIONS; RECLAIMING FOREIGN TAXES.
(a) For any Trust holding Securities denominated in a currency other than U.S.
dollars, the Depositor shall direct the Trustee with respect to the
circumstances under which foreign exchange transactions are to be entered into
and calculations under this Indenture are to be made, in order to convert
amounts receivable in respect of the Securities in foreign currencies into U.S.
dollars.

       (b)   The Trustee shall take such reasonable action as the Depositor
shall direct or, if not so directed, use reasonable efforts to reclaim or recoup
any amounts of non-U.S. tax paid by the Trust or withheld from income received
by the Trust to which the Trust may be entitled as a refund.

       M.    The following paragraphs are inserted after the first paragraph in
Section 4.01:

       "With respect to foreign securities, each security listed on a securities
       exchange will be valued at the last closing sale price on the relevant
       stock exchange or if no such price exists at the closing offer price
       thereof.

       If the Trust holds securities denominated in a currency other than U.S.
       dollars, the evaluations shall be converted to U.S. dollars based, during
       the initial offering period, on the offering side of the relevant
       currency exchange rate, and, subsequent to such period, on the bid side
       of the relevant exchange rate, including the cost of a forward foreign
       exchange contract in the relevant currency to correspond to the Trustee's
       settlement requirement for redemption requests as quoted to the Trustee
       by one or more banks designated by the Depositor, unless the Security is
       in the form of an American depository share or receipt, in which case the
       evaluations shall be based upon the U.S. dollar prices in the market for
       American depository shares or receipts (unless the Trustee deems such
       prices inappropriate as a basis for valuation)."

       N.    Reference to "Dean Witter Select Equity Trust" is replaced by
"Morgan Stanley Dean Witter Select Equity Trust".

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                                       -6-
                                       II.

                      SPECIAL TERMS AND CONDITIONS OF TRUST

       The following special terms and conditions are hereby agreed to:

       A.    The Trust is denominated Morgan Stanley Dean Witter Select Equity
Trust Select Global 30 Portfolio 2000-4 (the "Select 30 Trust").

       B.    The publicly traded stocks listed in Schedule A hereto are those
which, subject to the terms of this Indenture, have been or are to be deposited
in trust under this Indenture.

       C.    The term, "Depositor" shall mean Dean Witter Reynolds Inc.

       D.    The aggregate number of Units referred to in Sections 2.03 and 9.01
of the Basic Agreement is 25,238 for the Select 30 Trust.

       E.    A Unit is hereby declared initially equal to 1/25,238.

       F.    The term "In-Kind Distribution Date" shall mean December 13, 2001.

       G.    The term "Record Dates" shall mean June 1, 2001 and January 4, 2002
and such other date as the Depositor may direct.

       H.    The term "Distribution Dates shall mean June 15, 2001, and on or
about January 11, 2002 and such other date as the Depositor may direct.

       I.    The term "Termination Date" shall mean January 4, 2002.

       J.    The Depositor's Annual Portfolio Supervision Fee shall be a
maximum of $0.25 per 100 Units.

       K.    The Trustee's Annual Fee as defined in Section 6.04 of the
Indenture shall be $0.80 per 100 Units.

       L.    For a Unit Holder to receive an "in-kind" distribution during the
life of the Trust, such Unit Holder must tender at least 25,000 Units for
redemption. There is no minimum amount of Units that a Unit Holder must tender
in order to receive an "in-kind" distribution on the In-Kind Date or
inconnection with a rollover.

               (Signatures and acknowledgments on separate pages)

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                                       -7-
       The Schedule of Portfolio Securities in the prospectus included in this
Registration Statement is hereby incorporated by reference herein as Schedule A
hereto.

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