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To: thomas_donald who wrote (91)	4/20/2002 4:56:12 PM
From: Glenn Petersen	Read Replies (1) of 183

The merger agreement between KTWO and First Step Distribution contained a termination provision that would have allowed either party to walk away from the transaction if it was not consummated by April 30, 2002. That provision has been waived until June 30, 2002. freeedgar.com "The Merger Agreement contains a provision for termination of the Merger Agreement by either the Company or First Step if the Merger is not consummated by April 30, 2002. On April 8, 2002, the Company and First Step entered into a side letter under which the Company agreed to waive its right to terminate the Merger Agreement until June 30, 2002; provided that First Step has delivered to the Company a true and correct copy of First Step's financial statements (as described in the Merger Agreement) on or before May 8, 2002."

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