PROMISSORY NOTE

Amount: $200,000.00                                     Date: November 18, 1996

    FOR VALUE RECEIVED, the undersigned promises to pay to the order of Joseph
Altomonte, Sr., the sum of $200,000.00 with interest from the date hereof on the
unpaid balance of principal at prime rate plus 1% per annum. Payments under this
note shall be made as follows:

    The Prindpal Sum shall be due and payable on demand. Interest shall be due
and payable beginning December 1, 1996 and will continue monthly thereafter
until demand is made for Principal, at which time all principal, unpaid interest
and fees shall be immediately due and payable.

    In the event of non-payment of any installment hereunder, when due, the
entire balance of principal, then remaining unpaid, with accrued interest
thereon, shall at once become due and payable at the option of the holder
hereof, with notice or demand being given to the maker hereof in writing.

    The parties agree that the repayment of principal and interest on the Note
shall in all respects be identical to the repayment terms in effect at any given
time under the County Savings Loan, No. 04.54.64972, executed by Joseph A.
Altomonte, Sr.



Dynacraft Golf Products Inc.


By /s/ Jeff Jackson
   ----------------

   Its:  President
         Jeff Jackson



                                          1



                                   PROMISSORY NOTE

Amount: $90,770.41                                      Date: November 18, 1996

    FOR VALUE RECEIVED, the undersigned promises to pay to the order of Joseph
Altomonte, Sr., the sum of $90,770.41 with interest from the date hereof on the
unpaid balance of principal at 7% per annum. Payments under this note shall be
made as follows:

    The Principal Sum shall be due and payable on demand. Interest in the
amount of $3,451.71, prepaid to June 1, 1997.

    In the event of non-payment of any installment hereunder, when due, the
entire balance of principal, then remaining unpaid, with accrued interest
thereon, shall at once become due and payable at the option of the holder
hereof, with notice or demand being given to the maker hereof in writing.

    The parties agree that the repayment of principal and interest on the Note
shall in all respects be identical to the repayment terms in effect at any given
time under the General American Laon Transaction on Policy  #1990863..



Dynacraft Golf Products Inc.


By /s/ Jeff Jackson
   ----------------

   Its:  President
         Jeff Jackson


                                          2


                                   PROMISSORY NOTE

Amount: $35,784.20                                      Date: November 18, 1996

    FOR VALUE RECEIVED, the undersigned promises to pay to the order of Joseph
Altomonte, Sr., the sum of $33,950.21 with interest from the date hereof on the
unpaid balance of principal at 7.2% per annum. Payments under this note shall be
made as follows:

    The Principal Sum shall be due and payable on demand. Interest in the
amount of $1,833.99, prepaid to August 2, 1997.

    In the event of non-payment of any installment hereunder, when due, the
entire balance of principal, then remaining unpaid, with accrued interest
thereon, shall at once become due and payable at the option of the holder
hereof, with notice or demand being given to the maker hereof in writing.

    The parties agree that the repayment of principal and interest on the Note
shall in all respects be identical to the repayment terms in effect at any given
time under the General American Loan Transaction on Policy  #1989965.



Dynacraft Golf Products Inc.


By /s/ Jeff Jackson
   ----------------

   Its:  President
         Jeff Jackson


                                          3


                                   PROMISSORY NOTE

Amount: $52,500.00                                        Date: January 2, 1997

    FOR VALUE RECEIVED, the undersigned promises to pay to the order of Joseph
Altomonte, Sr., the sum of $52,500.00 with interest from the date hereof on the
unpaid balance of principal at 8.25% per annum. Payments under this note shall
be made as follows:

    The Principal Sum shall be due and payable on demand. Interest shall be due
and payable beginning January 31, 1997 and will continue monthly thereafter
until demand is made for Principal, at which time all principal and unpaid
interest shall be immediately due and payable.

    In the event of non-payment of any installment hereunder, when due, the
entire balance of principal, then remaining unpaid, with accrued interest
thereon, shall at once become due and payable at the option of the holder
hereof, with notice or demand being given to the maker hereof in writing.



Dynacraft Golf Products Inc.


By /s/ Jeff Jackson
   ----------------

   Its:  President
         Jeff Jackson
                                          4