EXHIBIT 10.24

                        FIRST AMENDMENT TO REVOLVING NOTE
                              Loan No. 600804665-57


         The  undersigned,  CTI Industries,  Inc., a Delaware  corporation  (the
"Borrower"),  hereby  agrees  with First  American  Bank,  an  Illinois  banking
corporation (the "Bank"), that the Revolving Note dated August 22, 1996, made by
the Borrower  payable to the order of the Bank in the original  principal amount
of $3,000,000.00 (the "Note"), shall be and hereby is amended as follows:

         Notwithstanding any contrary provision of the Note:

                  1. The principal and accrued interest sum outstanding,  if not
         sooner paid in full and unless  accelerated  as provided in the Note or
         prepayable as hereinafter provided, shall be due and payable in full on
         July 1, 1998.

                  2.  Commencing  July 1,  1997,  Borrower  shall  make  regular
         monthly payments of accrued unpaid interest and on the same day of each
         month  thereafter,  until July 1, 1998,  when the Note shall be paid in
         full.

         All references in the Note to this "Note" or the like,  shall be deemed
to be references to the Note as amended by this Amendment.

         The Borrower hereby  authorizes the Bank to affix this Amendment to the
Note.  Except as herein  amended,  the Note is ratified and  confirmed and shall
remain in full force and effect in accordance with its terms.

         IN WITNESS WHEREOF,  the undersigned has executed this Amendment to the
Note this 1st day of July, 1997.

                                                          BORROWER
                                                  CTI Industries Corporation

Attest:
                                                By:/s/ Stephen M. Merrick
                                                   -----------------------
                                                       Stephen M. Merrick,
By: /s/ Howard W. Schwan                                    President
    ---------------------                                   
        Howard W. Schwan,
           Secretary





Agreed to as of this 1st day of July, 1997.

First American Bank


By: /s/ Martin J. Carmody
    -----------------------
        Martin J. Carmody,
       Exec. Vice President