August 5, 1999

Dear Ken:

This is to confirm our conversation whereby I desired your Item #DG20008 Stainless Steel and Yellow 18K Gold Marine Watch, brand new, for $5,690.00 plus shipping.

I would request next day delivery to my office (address above) and upon receipt I will forward immediate payment by check for said watch.

Sincerely yours,

Michael I. Roth
Chairman and CEO
The MONY Group
New York, New York