Document:

MillenniumGroup Worldwide, Inc. Exhibit 10.3

EXHIBIT
10.3

JOINT VENTURE AGREEMENT

THIS AGREEMENT is made effective as of the 11th day of May, 2007
by and between Millennium Group Worldwide, Inc., a Florida corporation (“MGW”)
and Prism Real Estate, Inc., a  Minnesota corporation (“Prism”).

Recitals

1.

The parties wish to combine their efforts in the purchase,
ownership, development, and marketing of real estate in Mexico.  The
parties have demonstrated a desire for addressing the economic and social needs
of the previously disadvantage communities in Mexico, North America and the
Caribbean, primarily through broad-base economic strategies.  Secondarily,
the parties intend to create a larger middle class through entrepreneurship and
simultaneously earn a profit from the efforts to reinvest in the development of
the communities to be served.  At a minimum, the development of real estate
within these communities will be enhanced through the proposed strategy.

2.

The parties shall create a new company jointly owned by MGW and
Prism.  MGW shall have a Fifty-one percent (51%) ownership interest in the
new company and Prism shall have a Forty-nine percent (49%) ownership interest
in the new company which company shall be a special purpose vehicle which could
have broad scope and unlimited duration.  The company shall be referred to
as “the SPV.”

3.

MGW will bring to the SPV relationships with, among others, The
World Bank, Rand Merchant Bank, and the Overseas Private Investment Corporation.
 MGW could also bring Two Dollars of outside capital for every One Dollar
invested by the SPV in project specific financing in Mexico.

4.

Prism brings the business plan, the relationships in Mexico with
the various government officials and contractors, the development experience,
marketing experience, and the past sweat equity to the project to the point
where implementation can occur with financing.

5.

The SPV will, as a unit, identify any gaps in the business plan
and experience levels, such as logistical experience, and identify the qualified
expertise to build the capacity within the SPV to handle such needs.
 However, the SPV may find it more practical to outsource some or all of
the needs of the SPV. It is believed that the goals of the SPV combined with the
experiences and social development desires of both parties, together with the
equity funds of the consortium, can meet the needs and create a sustainable
model for the SPV.

NOW, THEREFORE, in consideration of the mutual promises herein
contained, 

the parties agree as follows:

1.

Goals of the SPV.  The goals of the SPV are to:

a.

Create a minimum of 250 Million  and 00/100 Dollars
($250,000,000.00) in net assets for the SPV   within the next five
  years;

b.

Create vehicles for increasing the middle class for minority
groups,   nationally and internationally; and

c.

Create broad-based economic empowerment vehicles that will
ultimately become the backbone of the middle class of North   America,
Mexico and the Caribbean.

2.

The Business of the SPV.  The SPV will be able to
perform any legal service or create or purchase and operate any type of business
enterprise.  The parties are currently in the business of acquiring,
owning, developing, selling, renting and managing both unimproved and improved
residential and commercial property.  If a contract is signed, MGW will
bring the necessary equity investment equal to Sixty Percent  (60%) of what
is required to execute the business plan as stated in this Agreement.  MGW
will also bring, as part of its planning team, Joseph Johnson, former City
Manager, Assistant City Manager and head of Atlanta, Fulton County Georgia’s
Office of Economic Development; Patricia Braynon, Director of Miami-Dade
County’s Housing Finance Authority; and Timothy Towell, former Ambassador and
Foreign Services Member, United States Government.  These individuals will
become a permanent part of the business development team.  

3.

Initial Investment.  MGW shall initially invest the
sum of Fifteen Million and 00/100  Dollars ($15,000,000.00), plus the
amount of the “Promissory Note” (as hereinafter defined) for  Fifty-one
Percent (51%) of the SPV (“Initial Investment”).  The funds will be treated
as equity with all rights and privileges associated with an investment of this
type.  It is anticipated that the ultimate  funding of the Initial
Investment will come in part from a public offering being placed by MGW.
 However, the funds from the public offering are not anticipated to be
available in time to capitalize on the opportunity to acquire an investment
opportunity in “Cascadas Project” (as hereinafter defined). To accommodate the
 timing needs of the Cascadas Project, MGW will attempt to arrange bridge
financing in the sum of  Twenty Million  and 00/100 Dollars
($20,000,000.00) ( the “Bridge Financing”).  The Bridge Financing will be
structured as a debt instrument and will have the following terms:

a.

The loan will be payable  one year from the date of funding
with no prepayment penalty and will bear interest at a rate mutually agreed upon
by both parties;

b.

Fifteen Million and 00/100 Dollars ($15,000,000.00) of the loan

will be repaid by MGW’s  public offering and the balance
through borrowing by the Cascadas Project;

c.

If MGW does not complete its public offering, Cascadas shall have
        the option of repaying the loan
directly or converting the loan to a  Fifty-one percent (51%) equity
position in the Cascadas Project;

d.

The loan will be secured by a first mortgage on the real estate
owned by Cascadas de Manzanillo, S. de R.L. de C.V.; and

e.

The Bridge Financing shall be structured to satisfy the terms of
the           existing
financing with KSI Capital Corp.

4.

The Initial Project.    The Initial
Investment is specifically earmarked for the acquisition of a Fifty-one percent
(51%) interest in the available land within the project Cascadas de Manzanillo
(hereinafter referred to as the “Cascadas Project” or the “Project”).  The
total project encompasses 530 acres on the Pacific Coast in the middle of
Santiago Bay in Manzanillo, Colima, Mexico.  The Cascadas Project is owned
by Cascadas de Manzanillo, S. de R.L. de C.V. ( the “ Cascadas Company”) and
have been under development since 2004.  Certain parcels of the project
have been sold to various buyers;  however, most of the land has been
retained  and is being developed.  All remaining land is owned by the
Cascadas Company.

5.

Payment for the Initial Investment.  The Initial
Investment will be paid as follows:

 

a. Fifteen Million and 00/100 Dollars ($15,000,00.00) in cash at
closing from  MGW’s public offering or other equity source as agreed upon
by the parties; and

b.

Ten Million and 00/100 Dollars ($10,000,000.00) in the form of a
promissory note with interest at the rate of five percent (5%) per annum (the
“Promissory Note”).  The principal of the Promissory Note shall be paid
from the first profits after the Project demonstrates that it can carry the
payment with no negative effect on the continued progress of the Project.
 The Promissory Note will have a term of five years. The parties agree to
cooperate in obtaining an independent appraisal of the Project, dated no later
than May 31, 2007.  The parties further agree that the Promissory Note
shall be reduced by an amount equal to one-half of the amount that the appraised
value is less than Fifty Million and 00/100 Dollars ($50,000,000.00).

6.

Disbursement of Funds on Liquidation.   If the
Project is not successful and all or substantially all of the Project’s real
estate is sold as part of a liquidation, the proceeds of liquidation shall be
disbursed as follows:

a.

First, to MGW in an amount equal to it original investment of
Fifteen Million and 00/100 Dollars ($15,000,000.00);

b.

Second, to the holder of the Promissory Note in an amount equal to
the ten principal balance of the Promissory Note plus any accrued interest;

c.

Third, to the original investors an amount equal to their original
investment of Five Million and 00/100 Dollars ($5,000,000.00) less any
distribution previously received other than from paragraph 6 b.; and

d.

The balance proportionately to all investors based on their
respective interest in the Project.

7.

Investment by the SPV.  All business under contract
related to Mexican real estate development shall be of the SPV.  Any
contemplated Mexican real estate related business sectors engaged in by the
parties shall be subject to a right of refusal in favor of the SPV.  All
outside interests that could be perceived as a conflict will be disclosed and
agreements signed indicating the complete disclosure by all parties.

8.

Budget.  The parties will jointly prepare a budget.
The parties may utilize a bank guarantee or other credit enhancing tools to help
finance operating and Project Costs.  Any interest accrued on the Initial
Investment shall be the responsibility of MGW until there is a plan to sell
shares to outsiders or declare dividends.  Any additional funds borrowed or
used in some other fashion shall have accrued interest paid by the SPV.
 Any additional loans shall be repaid from proceeds of the projects.
 The loans will be repaid prior to disbursements of dividends, unless
otherwise agreed.  All staffing costs and training costs shall be a cost of
the SPV.

9.

Tax Considerations.   The parties may choose to,
in formalizing the relationship with the consortium, create a vehicle in a
jurisdiction that promotes investments through generous tax incentives and will
assist each other in tax planning subject to the Internal Revenue Service
Regulations and the opinion of legal and tax counsel.  However, taxes on
regular business activities conducted in specific geographic locations, will be
paid in accordance with the tax rules of that jurisdiction.

10.

Establishment of the SPV.   Prism will assume the
responsibility of establishing the SPV and MGW will be responsible for the legal
requirements of the SPV being met.

11.

Financing Approvals/Obtaining of Permits.
   The SPV will take the lead in obtaining financing approvals
for projects with private businesses and government agencies. Both parties agree
to sharing the costs of all permits, licenses and any other jurisdictional
requirements for doing business.

12.

Business Continuation.  The current businesses
operated by the parties will continue operating in the current fashion until the
businesses are acquired and transferred to the SPV.  Both parties must
approve  the engagement of any marketing group, outside agents or other
activity that could incur costs or impact positively or negatively the image of
the SPV or of the parties. Any existing entity owned by the parties will be
considered first before outsourcing to any non-owned enterprise.  The
parties will be considered and given the opportunity to provide such services at
 rates equal to or less than the market prices for such services.

13.

Notices.   All notices, requests, demands and
other communications shall be in writing and shall be deemed to have been duly
given if delivered or mailed by certified or registered mail to the following
addresses or to such other locations as either party may designate to the other
in writing:

Millennium Group Worldwide Inc.

Attn: Mr. Julius Jackson, Chairman

2825 North 10th Street

St. Augustine, Florida  32084

Prism Real Estate, Inc.

Attn:  Mr. Timothy J. Oliver, President

6465 Wayzata Boulevard

Suite 304

Minneapolis, MN  55426

14.

Amendments.     This Agreement may only
be amended in a written document signed by both parties.

15.

Governing Law.   The laws of the State of
Minnesota shall govern the effect and construction of this Agreement.

16.

Binding Effect.  This Agreement shall be binding upon
and inure to the benefit of the parties hereto, their heirs, representatives,
successors and assigns.

IN WITNESS WHEREOF, 

the parties have executed this Agreement to be effective on the
date first above written.

MILLENNIUM GROUP WORLDWIDE INC.

PRISM REAL ESTATE,INC.

By_______________________________

By__________________________

       Julius  Jackson,
Chairman

Timothy J. Oliver, President

ADDENDUM TO JOINT VENTURE AGREEMENT

THIS ADDENDUM TO JOINT VENTURE AGREEMENT (the “Addendum”),
made this 29th day of November 2007, by and between Millennium Group Worldwide,
Inc., a Florida corporation (“MGW”), located at 2825 North 10th
Street, St Augustine, FL 32084 and Prism Real Estate, Inc., a Minnesota
corporation (“Prism”), located at 6465 Wayzata Boulevard, Suite 304 Minneapolis,
MN 55426 (collectively “we, us, the parties or the group”).

WHEREAS, the parties entered into a Joint Venture Agreement
dated as of May 11, 2007 regarding the purchase, ownership, development
 and marketing of real estate in Mexico (the “JV Agreement”); and

WHEREAS, the parties hereby wish to modify, change and
amend the JV Agreement.

NOW, THEREFORE, in consideration of $10.00 and the mutual
covenants contained herein, the parties covenant and agree as follows:

1.

The above-referenced recitals are true and correct.

2.

Paragraph 3. Initial Investment, is hereby deleted in its
entirety and is replaced by the following:

“MGW shall initially invest the sum of Fifteen Million and 00/100
Dollars ($15,000,000.00), plus the amount of the “Promissory Note” (as
hereinafter defined in section 5 (b) below) for Fifty-one Percent (51%) of SPV
(“Initial Investment”). The funds will be treated as equity with all rights and
privileges associated with an investment of this type. The parties hereby agree
that the funding for the Initial Investment shall be contingent on the
completion of an Initial Public Offering (“IPO”), placed by MGW ( Form S-1,
filed August 18, 2007 for $75,000,000.00). With respect to the Initial
Investment and the funds raised from the IPO the parties further agree to the
following:

a.

That at all times during the IPO process the basic terms of the
Agreement remain enforceable between the parties; and 

b.

The parties shall not be obligated to perform any of their
respective duties and responsibilities required under the terms of the
Agreement, unless a minimum of $70,000,000 is raised in the IPO.

c.

In the event that the funding requirements of the IPO are not
achieved within 120 days from the IPO filing date, this Agreement 

shall automatically terminate and the parties shall be released of
all obligations.  

3.

The last paragraph. IN WITNESS WHEREOF, the following words
are hereby deleted in their entirety:

“and shall be in effect for a minimum of 180 days”
    

1.

This Addendum together with the terms and provisions of the JV
Agreement, which are not inconsistent with this Addendum, shall constitute the
entire agreement between the parties with regard to the subject matter
hereof.

2.

This Addendum may be executed in any number of counterparts which,
when considered together shall be considered one instrument. For purposes of
this Addendum, executed facsimiles shall be treated as originals.

WHEREFORE, the parties have caused this Addendum to be
properly executed as of the date and day first above written.

MILLENNIUM GROUP WORLDWIDE, INC.

By: __________________________

        Julius V. Jackson,
Chairman

 

PRISM REAL ESTATE, INC.

By: __________________________

        Timothy J. Oliver,
PresidentMillennium Group Worldwide, Inc. Exhibit 10.4

EXHIBIT 10.4

A JOINT VENTURE AGREEMENT

BETWEEN

TAMBALA FOODS PRODUCTS

AND

MILLENNIUM GROUP WORLDWIDE

DATED AS OF NOVEMBER  12 , 2007

This Joint Venture Agreement (or “Agreement”), is entered into as
of November  12, 2007, by and between TAMBALA FOODS PRODUCTS,
organized under the laws of MALAWI (“TFP”) , the principal place of business
of which is Tambala Food Products Limited, Kamuzu Highway, Chichiri,
Blantyre 3, Malawi, and Millennium Group Worldwide, Inc., a corporation
under laws of the State of Florida, U.S.A. (“MGW”), whose registered office is
2825 North 10th Street, St. Augustine, Florida 32084, U.S.A.

WHEREAS, TFP and MGW desire a joint venture
organized under laws of Malawi (the “company” as hereinafter defined) to engage
in Company’s Business (as hereinafter provided);

NOW THEREFORE, in consideration of the promises and the mutual
agreements,

representations, warranties, covenants and provisions herein
contained, and intending to be legally bound hereby, the Parties hereto agree as
follows:

ARTICLE 1

DEFINITIONS

For the purposes of this Agreement, the following Definitions of
terms shall apply:

1.1. Ancillary Agreements

The following are the Ancillary Agreements and the Parties
thereto:

1.1.1. Management Agreement between TFP and MGW (Management
Agreement)

1.2. At Cost

Without profit component of any kind, direct or indirect, to the
particular Party in the give case (although nothing herein shall preclude such
Party from recovering all costs- direct and indirect- arising out of any
transaction with 

proscription “At Cost”).

1.3. Change Control

Any Change in ownership, management, or scope of business
activities of a Party which in the reasonable opinion of the other Party could
affect the performance of the duties and/or obligations of such Party under the
Joint Venture Agreement or the Ancillary Agreements. 

1.4. Joint Venture

The Joint Venture, that entity created in Malawi by the Parties
pursuant to the Joint Venture Agreement to conduct Company’s Business in the
Territory, also referred to herein as “Joint Venture”.

1.5 Company’s Business 

TFP buys raw products from smallholder farmers, grades them,
before subjecting them to high and strict quality control processing stages,
 to ensure that only quality raw materials pass through the system in order
to have high quality finished products. The graded product is then sent to the
factory for processing.

1.6 Effective Date

The date upon which all necessary formal approvals from the
appropriate authorities of the relevant jurisdiction for the formation of the
Joint Venture were obtained and Company was duly authorized to conduct the
Company’s Business pursuant to the Joint Venture Agreement and the Ancillary
Agreements as appropriate in the Territory.

ARTICLE 2

PURPOSES OF THE JOINT VENTURE

2.1. Purposes of the JOINT VENTURE.

The purposes of the JOINT VENTURE are as follows:

2.1.1. To conduct Company’s Business for the benefit of the
Parties;

2.1.2. To protect and preserve TFP Intellectual Property Rights
together with 

TFP Trade Secrets in the Territory under the terms of this
Agreement and the Ancillary Agreement;

2.1.3. To manufacture, promote sell, distribute or enter into
other business transactions related to TFP Product in the Territory under the
terms hereof and of the Ancillary Agreements;

2.1.4. To provide for the implementation of the Ancillary
Agreement for the benefit of the respective Parties; and

2.1.5. To manufacture, promote sell, distribute or enter into
other business transactions related to Other Agreed Upon Technologies in the
Territory under the terms hereof and of the Ancillary Agreement. 

ARTICLE 3

FORMATION OF JOINT VENTURE

3.1. Formation of a Joint Venture

With the signing of this Agreement, the Parties have signified
their agreement to the formation of a Joint Venture under the laws of Republic
of Malawi.

Implementation of the formalities for merging is the
responsibility of TFP. 

ARTICLE 4

ARTICLES OF ORGANIZATION

A copy of the Articles of Organization for Company is attached
hereto as Appendix IV. As between the Parties, in case of any inconsistency
between this Agreement and the Articles of Organization, the provisions of this
Agreement shall govern. 

4.1 Capitalization

The capital contribution by MGW shall be US$2.000.000,
representing a 51% equity stake in the operation. 

ARTICLE 5

ELECTIONS OF DIRECTORS AND DESIGNATION  OF THE CEO OF
THE COMPANY

5.1. Election of Directors

Company shall have a Board of Directors consisting of 6. TFP and
MGW shall each have the right to designate an equal number of Directors. 

5.2. Substitute Directors

A Party shall have the right to designate a Substitute Director in
the event that a Director previously designated by it shall resign, retire, die,
or otherwise be unable or unavailable to serve.

5.3 Designation of Chief Executive Officer of
Company

MGW shall designated a Director, whose responsibility and
authority shall be to implement this Agreement, the Ancillary Agreement, the
Articles of Organization, and such resolutions as may be passed from time to
time by the Board of Directors of Company.

ARTICLE 6

RESPONSIBILITIES AND DUTIES OF THE PARTIES

6.1 Responsibilities of
the Parties

It shall be the responsibility of all Parties to effect the
Purposes of this Joint Venture Agreement pursuant to Article 3 hereof.

6.2. Specific Responsibilities and Duties of Individual
Parties.

Specific responsibilities and duties which are to be fulfilled by
individual Parties to the Joint Venture Agreement are set forth in the Ancillary
Agreements.

6.3. Actions Requiring Consent of All Parties

In addition to other provisions of this Joint Venture Agreement
and/or the Ancillary      Agreements requiring the
consent or approval of all the Parties, the unanimous specific written consent
of each Party hereto shall be required before 

Company may take any of the following actions:

6.3.1. Establish annual operating budgets for Company which the
Chief Executive Officer of Company shall prepare and submit no later than August
30 of each year for the following fiscal year;

6.3.2. Establish annual operating budgets for Company which the
Chief Executive Officer of Company shall prepare and submit no later than August
30 of each year for the following fiscal year; Establish annual operating
budgets for Company which the Chief Executive Officer of Company shall prepare
and submit no later than August 30 of each year for the following fiscal
year;

6.3.3. Establish annual operating budgets for Company which the
Chief Executive Officer of Company shall prepare and submit no later than August
30 of each year for the following fiscal year;

6.3.4. Mortgage, pledge, encumber or hypothecate any of the assets
of Company;

6.3.5. Change Company’s independent chartered or certified public
accountants after the same have been appointed by the mutual consent of the
parties.;

6.3.6. Change or allow a change in the accounting procedures
employed in the maintaining Company’s books of account or in preparing financial
statements with respect to the operations of Company or Company’s Business;

6.3.7. Obligate Company as a surety, guarantor or accommodation
party to any obligation, lend funds belonging to Company to any third party, or
extend credit to any person, firm or entity, on behalf of Company, other than in
the ordinary course of business;

6.3.8. File material litigation against third parties on behalf of
Company or confess judgment on behalf of Company;

6.3.9. Amend the Articles of Organization of Company;

6.3.10. Cause Company to issue any Equity Interest or any debt
securities or to increase its capitalization;

6.3.11. Borrow any money on behalf of Company requiring a mortgage
or other 

form of security in favor of the lender, except that a security
interest in inventory and receivables authorized by the Chief Executive Officer
of the Company in the ordinary course of business shall be permissible;

6.3.12. Cause Company to merge or consolidate with or into any
other legal entity or acquire any other legal entity;

6.3.13. Cause Company to dissolve or to liquidate;

6.3.14. Cause Company to engage in any business activity which is
outside the scope of Company’s Business;

6.3.15. Form any subsidiary or other legal entity;

6.3.16. Cause Company to enter into a transaction or business
relationship with any of the Parties hereto, other than as may be expressly
provided for by this Agreement and/or the Ancillary Agreements, other than on an
arm’s-length basis, and on prices and terms no more favorable to the Party than
could have been obtained from an independent third party;

6.3.17 Engage or dismiss the Chief Executive Officer and other key
employees of the Company and/or fix compensation for such personnel, including
bonuses and perquisites; and

6.3.18. Acquire fixed assets for and on behalf of Company. 

6.4. Special Resolutions

Upon reaching unanimous agreement as to the actions set forth in
Article 7.3., hereof, the Parties shall vote their Equity Interests to adopt any
special resolutions to implement same as may be required by the laws of the
Republic of Malawi.

ARTICLE 7

DEVELOPMENT OF COMPANY’S AGENTS

7.1. Development of Company’s Agents

7.2. Implementation of Corporate Governance Policies
Appropriate to the Territory

ARTICLE 8

COVERAGE OF FINANCIAL SHORTFALLS BY THE PARTIES

No Party shall have any obligation to contribute capital to
Company in excess of the amounts provided in Section 4.3. with respect to the
initial foundation capital or capitalization of Company. The Parties may,
however, the sole discretion of each, elect to provide financial support over
and above their initial equity in Company. 

ARTICLE 9

FINANCIAL BOOKS AND RECORD-BANKING

9.1. Fiscal year

The fiscal year of Company shall commence every year on
 January 1st and end on December 31st . The books of accounts
shall be closed at the end of each fiscal year, and audited statements shall be
prepared by a recognized firm of chartered or certified public accountants
showing the financial condition of Company and the results of its operations for
such fiscal year. Copies of the audited annual statements and unaudited monthly
and/ or quarterly statements shall be provided to each of the Parties. 

9.2. Access to Books and Records

Company’s financial books, records and statements of account shall
be kept at the principal place of business of Company, and each Party shall have
the right at all reasonable times to inspect and copy same. 

9.3. Bank Accounts

All of Company’s funds shall be deposited in its name in such bank
account or accounts as shall be designated from time to time by the Board of
Directors. Withdrawals from such account or accounts shall be made by checks or
other appropriate instruments signed by the Chief Executive Officer and such
other officers or persons as the Board of Directors shall from time to time duly
designate.

ARTICLE 10

INSURANCE

10.1. Independent Insurance Coverage

The Parties shall cause Company to obtain and to maintain property
damage, product liability, public liability and other liability, casualty, and
general insurance for Company’s Business, as deemed adequate for the proper
conduct of Company’s Business in the Territory. In the event that insurance is
provided by means of an amendment or rider to existing insurance maintained by
any of the Parties, then the cost thereof, to the extent that the basic
insurance cost of such party is thereby increased, shall be borne by and paid
for by Company. 

ARTICLE 11

COVENENT TO OBSERVE THE DOCTRINE OF “CORPORATE
OPPORTUNITY”

11.1. Doctrine of Corporate Opportunity and Observance
Thereof

It is the intent of the Parties to this Joint Venture Agreement
and to the Ancillary Agreements to deal solely with each other with respect to
the commercial, technical and strategic development and implementation of
Company’s Business in the Territory. Consequently, the Parties to each agreement
cited above hereby renounce and covenant not to engage in any activity which
would either (a) negatively impact the performance of their duties under this
Joint Venture Agreement or the Ancillary Agreements in the Territory. 

11.2. Agreement Not to Divert Resources

MGM and TFP agree that during the term of this Agreement they
shall not, directly or indirectly, in any capacity whatsoever, engage in, own,
manage, operate, control, act as a consult to, have a financial interest in, or
otherwise participate in the ownership, licensing, management, operation or
control of, a business which would impede, substitute, displace or divert Net
Sales of TFP Product and/or of Other Agreed Upon Technologies from Company
within the Territory except through Company in furtherance of Company’s
Business. 

11.3. Remedies for Breach of Agreement Not to Divert
Resources

It is understood and recognized by the Parties that in the event
of a violation of the provisions of Article 15 hereof by a Party, the remedy at
law will be inadequate and that the other Party of Parties to this Joint Venture
Agreement consents to injunctive or other appropriate equitable relief upon the
institution of legal proceedings therefore by the non-violating Party or
Parties. Such relief shall be in addition to any other relief to which a Party
may be entitled at law or equity, which shall include but not be limited to the
right of immediate termination of this Agreement. 

ARTICLE 12

TERM OF AGREEMENT

12.1. Indefinite Term

This Agreement shall become effective on the Effective Date and
shall, unless otherwise terminated in accordance with the provisions hereof,
continue in effect for an indefinite term of years.

12.2. Termination

This Agreement, having become effective as of the Effective Date
hereof, shall continue in effect unless:

12.2.1. Terminated by either Party in accordance with the
provisions of Articles 13, 14 and/or 15 hereof;

12.2.2. Terminated in accordance with Article 17.3 and/or Article
17.4 hereof;

12.2.3. Terminated by either Party by reason of a material Breach
or Default (as defined in Section 18.1) of this Joint Venture Agreement by the
other Party which has not been cured or remedied in accordance with Article 18
hereof. If a dispute as to whether a Default or Breach exists is submitted to
Arbitration under Article 19 hereof, the Parties shall jointly appoint a trustee
or agent to oversee the execution of the duties hereunder and the protection of
the rights hereunder of the Party allegedly in Default and/or Breach. If the
Parties cannot agree on a trustee or agent for such purposes, the Arbitration
Panel shall forthwith appoint same; or

12.2.4. Terminated automatically upon termination of any of the
Ancillary Agreements by a Party thereto. In the event of the lawful termination
of any of the Ancillary Agreements by a Party thereto, this Agreement shall
likewise terminate on the same date, without any further act or notice given by
a Party hereto.

12.3. If a Party hereto shall become bankrupt or insolvent or
shall file any debtor relief proceedings, or if there shall be filed in Court
against a Party legal proceedings or bankruptcy or insolvency or reorganization
or for the 

appointment of a receiver or trustee of all or a portion of such
Party's property, or if a Party makes an assignment for the benefit of creditors
or petitions for or enters into an arrangement for debtor relief and such
proceedings as are described aforesaid are not dismissed within a period of
ninety (90) days after the institution thereof, then, at the option of the other
Party, this Agreement shall forthwith terminate by written notice given to the
Party who has filed, instituted or against whom any of the proceedings aforesaid
have been brought; provided that if a stay of such termination has been granted
by a trustee or judge or applies as a matter of law, then the other Party shall
continue to perform under the terms of this Agreement if:

12.3.1. Payments due under this Agreement for past obligations are
rendered in full by the Party subject to such proceedings;

12.3.2. Payments due under this Agreement for present obligations
are rendered by the Party subject to such proceedings pursuant to a payment
schedule acceptable to the other Party; and

12.3.3. All other provisions of this Agreement are complied with
fully by the Party subject to such proceedings.

12.4. Payments of Amount Due

In the event of termination of this Agreement, each Party shall
pay to each other Party all amounts due and owing pursuant to this Agreement as
of the effective date of termination.

12.5. Non-Release of Obligations

The termination of this Agreement shall not release the Parties
from their obligations to settle all financial accounts between themselves in
cash forthwith. Notwithstanding the termination hereof, each Party shall be
responsible for the performance of all of its obligations and responsibilities
hereunder up to the effective date of termination. As provided in Articles 13
and 14, upon termination of this Agreement, TFP Intellectual Property Rights,
together with TFP Trade Secrets, and MGW Trade Secrets shall continue to be kept
secret and confidential.

12.6. Cessation of Rights upon Termination

Except as otherwise provided herein, upon the termination of this
Joint Venture Agreement all rights of the Parties under or pursuant to this
Agreement (except with respect to Article 13, 14, 15, 16 and 17.6 hereof) shall
forthwith cease and terminate. Notwithstanding the foregoing, the provisions of
Sections 13, 14, 15, 16 and 17.6 shall survive the termination of this Joint
Venture Agreement. In explanation and not in limitation of the foregoing, the
Parties recognize that the License Agreement transfers to Company the right to
use the intellectual property described therein during the pendency of this
Agreement and all rights of the Company therein terminate absolutely upon the
termination of this Joint Venture Agreement.

12.7. Liquidation of Company and Wind-up of Company’s
Business upon Termination

Upon Termination of this Agreement:

12.7.1. Company shall be liquidated forthwith; and, following
payment of all known just obligations of Company, and establishment of a
reasonable reserve to pay such just obligations of Company as are unknown at the
time of liquidation of Company, the remaining assets shall be divided in
accordance with their Equity Interests between the Parties.

12.7.2. Company’s Business shall be wound up forthwith; and no
further orders shall be accepted by Company for TFP Product or for Other Agreed
Upon Technologies, provided that orders for TFP Product and/or Other Agreed Upon
Technologies which were received by Company prior to termination of this
Agreement shall be filled by Company either out of its own existing inventory
and/or its own manufacturing capabilities, or through imports from TFP or an TFP
Affiliate, as appropriate.

ARTICLE 13

DEFAULT

13.1. Event of Default

A Default hereunder shall exist in the event of:

13.1.1. Non-payment of funds by one Party to another Party when
due and 

owing; and/or

13.1.2. A material breach ("Breach") of any provision of this
Joint Venture Agreement other than Articles 13, 14 and/or 15 hereof, or any of
the Ancillary Agreements; and/or

13.1.3. Any Breach of Articles 13, 14, and/or 15 hereof. 

13.2. Remedies upon Default or Breach

The remedies available to each Party in an instance of Default or
Breach by the other Party shall be as follow:

13.2.1. If a Party shall fail to make any payments required
hereunder after the same are due, (other than due to governmental delays) or if
it shall commit a Default or Breach in the performance of, or by failure to
observe and comply with, any other material term or provision of this Agreement
or any of the Ancillary Agreements to be performed, observed or complied with by
it, then the Party against whom such Default or Breach shall have been committed
shall have the right to declare a Default and terminate this 

Agreement unless the Party in Default shall cure such failure to
pay, or cause the same to be cured, within thirty (30) days (fifteen (15) days
in case of monetary default) after receipt of written notice from the other
Party; provided, however, that if the Party in Default or Breach commences to
cure same within the curative period specified herein, then the right of
termination shall be held in abeyance for a reasonable period of time so long as
the Party in Default or Breach proceeds to cure such Default or Breach with due
diligence. A Party's right of termination shall be in addition to and not in
limitation of any of its other rights at law or in equity based upon the other
Party's Breach or Default. Any notice of termination shall stipulate the
effective date of termination which shall be not less than three (3) months nor
more than six (6) months following the date that such notice is given. 

13.2.2. Notwithstanding the foregoing, in the event of a violation
of Articles 13, 14 and/or 15 hereof by a Party hereto, the other Party may at
its sole discretion terminate this Agreement with immediate effect upon giving
notice to the Party 

in Default or Breach of Article 13, 14 and/or 15 hereof as
provided herein.

13.3. Non-Waiver of Rights

A Party's failure to terminate this Agreement on account of any
Breach or Default by the other Party as provided in Article 18.1 or 18.2 hereof
shall in no event constitute or be deemed to constitute a waiver by such Party
of its right to terminate this Agreement at any time while any such Breach or
Default continues (subject to the provisions of Article 18.2 hereof), or on
account of any subsequent Breach or Default by a Party.

ARTICLE 14

DISPUTE RESOLUTION

14.1. Dispute Resolution by Arbitration

Any and all disputes; except as excluded under Article 19.2
hereof, which may arise between the Parties during the term of this Agreement,
after the termination thereof, or following the liquidation or dissolution of
Company, upon failure by the Parties to amicably resolve same after mutual good
faith negotiations, shall be exclusively settled by arbitration, including, but
not limited to, the following:

14.1.1. A dispute as to whether a Default exists;

14.1.2. A dispute as to whether a Default entitles the
non-defaulting Party to terminate this Agreement;

14.1.3. A dispute as to the validity of this Article 19;

14.1.4. A dispute relating to the construction, meaning,
interpretation, application or effect of this Agreement or anything contained
herein;

14.1.5. A dispute as to the rights, obligations or liabilities of
the Parties hereunder.

14.2. Disputes Not Subject to Arbitration

Notwithstanding anything to the contrary set forth in this
Agreement:

14.2.1. Arbitration may not be invoked regarding matters expressed
in this Agreement to be agreed upon by or determined with the consent or
approval of both Parties.

14.2.2. Arbitration may not be invoked if a Party violates the
provisions of this Agreement relating to TFP Intellectual Property Rights, TFP
Trade Secrets, MGW Trade Secrets or Corporate Opportunity. In such event, the
remedies set forth in Articles 13, 14, 15 and/or 18 hereof shall apply.

14.3. Conduct of Arbitration Proceedings

Such arbitration proceedings shall be conducted in English and
shall be carried on in the Republic of Malawi or any other place mutually
agreeable to the Parties, under the UNCITRAL Arbitration Rules. With respect to
the interpretation of this Agreement, 

the laws of Malawi (without regard to conflicts of laws
provisions) shall apply. Judgment upon the award rendered by the arbitrator in
favor of the Prevailing Party, which shall include an award concerning the
payment of costs, attorneys' fees, and expenses of the arbitration proceedings,
may be entered in any court of competent jurisdiction and assets may be attached
in any country in the world pursuant to such judgment.

14.4. Designation of the “Prevailing Party”

In each case in which arbitration is invoked under this Agreement
or any of the Ancillary Agreements, the arbitration panel shall be required to
designate one or the other Party as the Prevailing Party (“Prevailing
Party”).

14.5. Punitive Damages Excluded

The Prevailing Party in an arbitration proceeding convened
hereunder shall be awarded in arbitration all reasonable damages plus documented
costs incurred in pursuing its arbitration claim, including but not limited to
legal fees and travel expenses, but shall not be entitled to exemplary or
punitive damages.

ARTICLE 15

PRESCRIPTION OF AUTHORITY OF THE PARTIES TO BIND EACH
OTHER

Nothing contained in this Agreement shall be construed to
constitute the Parties as agents for one another or to render any Party liable
for any debts, liabilities or obligations of the other ("Indebtedness"). It is
understood that such Indebtedness, if incurred, is outside the scope of this
Agreement and the Ancillary Agreements. No Party shall have the authority to
extend or to utilize the credit of the other, to extend credit in the other
Party's name, or to represent that it is authorized to do so without the express
written consent of the other. In the event that a creditor of a Party shall
assert a claim against that Party based on such Indebtedness, then the Party who
in fact is obligated thereon shall indemnify and hold the other Party harmless
from and against any losses, claims or liabilities by reason thereof.

15.1. Right of First Refusal to Acquire Equity
Interests

Any Equity Holder receiving a bona fide offer ("Offer") for the
purchase of its Equity Interests, and who wishes to Transfer such Equity
Interests to a proposed Transferee in accordance with such Offer shall, prior to
making any Transfer of Equity Interests, give written notice (hereinafter called
"Notice") thereof to Company and to the other Equity Holders. Such Notice shall
enclose a copy of the offer and shall set forth the name and address of the
proposed Transferee, the selling price, the terms of payment, and all other
significant terms and conditions relating thereto. The proposed Transferor of
Equity Interests shall furnish to Company and to the other Equity Holders such
additional information concerning the prospective Transfer of Equity Interests
and/or Transferee as any of them may reasonably request. In order that the other
Equity Holders may be better able to determine the compatibility of the proposed
Transferee as an Equity Holder of Company, the proposed Transferor of Equity
Interests shall arrange for the other Equity Holders, if so requested, to be
introduced to the proposed Transferee and to have discussions with same. For a
period of forty-five (45) days following the receipt of said Notice of Offer,
the other Equity Holders shall have the right of first refusal to purchase any
or all of the Equity Interests specified in the Notice at the terms set forth
therein, in proportion to their ownership of Equity Interests at the time such
Notice of Offer is issued.

15.2. Exercise of Right to Acquire Equity
Interests

The foregoing right of first refusal shall be exercisable by
written notice to the prospective Transferor of Equity Interests within the
forty-five (45) day period aforesaid and the exercise of said right shall be
effective upon receipt of the written notice by said Transferor of Equity
Interests. If the right of first refusal is exercised, the purchase and sale
shall be closed at the offices of Company or at such other place as agreed
within ten (10) days after the expiration of the period for exercise thereof on
the terms and conditions set forth in the Notice of Offer. The Transferor of
Equity Interests at the time of sale shall represent and warrant that upon any
Transfer of Equity Interests, whether to the proposed Transferee or to an
existing Equity Holder or Equity Holders, such Transferee or existing Equity
Holder(s) shall be the sole owner of such Equity Interests free and clear of any
and all liens, encumbrances, equities or 

restrictions of any nature whatsoever, except that any future
Equity Holder(s) shall also become subject to the provisions of this
Agreement.

15.3. Force Majeure

In the event that a Party is prevented or delayed from performing,
fulfilling or completing an obligation provided for in this Agreement as a
result of delays caused by strikes, lock-outs, unavailability of requisite
materials, acts of God, acts of any national, state or local governmental agency
or authority of a foreign government, war, insurrection, rebellion, riot, civil
disorder, fire, explosion or the elements, then the time for performance,
fulfillment or completion shall be extended for a period not exceeding the
number of days by which the same was so delayed. If a force majeure event shall
be in existence for one year or more, then either Party shall have the right to
terminate this Agreement at any time thereafter by giving at least thirty (30)
days written notice of termination to the other Party, provided that the force
majeure event continues to be in effect as of the date that such notice is
given.

15.4. Notices

All notices, requests, demands or other communications which are
required or may be given pursuant to the terms of this Agreement shall be in
writing and delivery shall be effective in all respects if delivered (i) by
telefax or e-mail promptly confirmed by letter, (ii) personally, (iii) by
registered or certified air mail, postage prepaid, or (iv) by neutral commercial
courier service, such as Federal Express, DHL, UPS or equivalent, as follows:

If to MGW, to: 

Millennium Group Worldwide

                         

2825 North 10th Street, Saint Augustine, FL 32084

                         

U.S.A.

If to TFP, to:  

Tambala Food Products Limited

                       

Kamuzu Highway

                       

Chichiri, Blantyre 3, Malawi

Copy To: 

Millennium Group Worldwide

                

Rua de Evora, 126

                

Maputo, Mozambique

Telefax: 258 21-418 771

Email: dharawa@mgroupww.com

or to such other address as may be specified in writing by any of
the above. 

15.5. Entire Agreement

This Joint Venture Agreement and the Ancillary Agreements, contain
the entire understanding of the Parties as of the date of each such agreement.
There are no representations, promises, warranties, covenants, agreements or
undertakings other than those expressly set forth or provided for in this Joint
Venture Agreement and the Ancillary Agreements, and the same supersede all prior
agreements and understandings between the Parties with respect to the
relationships and transactions contemplated by this Joint Venture Agreement.
 

15.6. Validity of Provisions

Should any part of this Agreement or the Ancillary Agreements be
declared by any court of competent jurisdiction to be invalid, such decision
shall not affect the validity of the remaining portion, which remaining portion
shall continue in full force and effect as if such instrument had been executed
with the invalid portion thereof eliminated there from, it being the intent of
the Parties that they would have executed the remaining portion without
including any such part or portion which may for any reason be declared invalid.
In the event that a provision of this Agreement or any Ancillary Agreement shall
be declared to be invalid, then the Parties agree that they shall, in good
faith, negotiate with one another to replace such invalid provision with a valid
provision as similar as possible to that which had been held to be invalid,
giving due recognition to the reason for which such provision had been held
invalid.  

IN WITNESS WHEREOF, the Parties have executed this Joint 

Venture Agreement as of the day and year first above written.

Millennium Group Worldwide

Tambala Food Products Limited

By:________________________
                             
By:___________________________

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