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Accounts Receivable Credit Facility Agreement

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4th April 2005 Ulster Bank


PRIVATE & CONFIDENTIAL College Green Business Centre - ---------------------- P.O. Box 145 The Directors 33 College Green Castle Brands Spirits Company Limited Dublin 2 1st Floor Victoria House Haddington Rd Telephone: 01 7025400 Dublin 4 Facsimile: 01 7025235


WWW.ULSTERBANK.COM


Dear Sirs,


Further to our recent discussions, I am pleased to advise the following facilities have been approved for your Company. The agreement is between Ulster Bank Ireland Limited ("UBIL") and Ulster Bank Ltd ("UB"), (together the "bank") and the Borrower specified below whereby the Bank agrees to make available to the Borrower the following facility/ies on the terms and subject to the conditions herein contained:


BORROWER: THE ROARING WATER BAY SPIRITS COMPANY (GB) LTD - -------- ---------------------------------------------- FACILITY E: OVERDRAFT UBL FACILITY F: LOAN UBL FACILITY G: C&E GUARANTEE UBL


FACILITY E OVERDRAFT ON CURRENT ACCOUNT - ----------


AMOUNT: Stg(pound)70,000 (Seventy thousand pounds sterLing)


NATURE/PURPOSE: Overdraft on current account to meet working capital
requirements.


REVIEW DATE: 14th December 2005


INTEREST: Interest accrues on the daily cleared debit balance at the
Bank's base rate + 2.25% per annum and is calculated on a
365-day basis. Interest is compoundable and is payable at the
Bank's normal interest rests now quarterly in February, May,
August and November at a rate subject to variation at the
discretion of the Bank.


In the event of any change in rate, the Bank may notify the
Borrower of the change by way of narrative in a statement
relating to the account.


REPAYMENTS: The facility, including any implied overdraft facility, is at
the pleasure of the Bank and the Bank may at any time demand
repayment or reduce or restrict the overdraft facility as it
sees fit without prior notice. It is a condition of agreement
that the balance of the account fluctuates regularly to
credit, in the normal course of trading and that such credit
periods total a minimum of 30 days in aggregate in any
one-year period.


SURCHARGES: Overdrafts must operate within the authorized l
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