Project Management strategy.

Krispy Kreme Doughnuts, Inc.

July 21,2003.

Business Plan Group # 3

This document contains confidential and proprietary

Information belonging exclusively to Krispy Kreme Doughnuts, Inc.

Scott A. Livengood

Chief Executive Officer

Krispy Kreme Doughnut Corporation

PO Box 83

Winston-Salem, NC 27103

or 1-800-4KRISPY (1-800-457-4779)

This is a business plan. It does not imply an offering of Securities.

Krispy Kreme Doughnuts

370 Knollwood Street

Winston-Salem, North Carolina 27103

July 21, 2003.

Mr. Drost

Vista Monte International Inc.

4582 Star Parkway

Winston-Salem, NC 27103

Dear Mr. Drost:

I am currently seeking an investor for my company. You were referred to us with great accommodations through our regular business relationships. Based on your interest in successful franchise based companies, I believe the business plan for Krispy Kreme Doughnuts may be of interest to you.

Krispy Kreme Doughnuts is the leader in the doughnut making industry. Our mission is to provide quality doughnuts and beverages at competitive prices.

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We have targeted local communities and prime retail locations. We also have a strong management team and Board of Directors, including Mr. John E. Tate, our Chief Operating Officer CIO Frank Hood.

We are seeking a credit line in the range of $10 million and $25 million to assist Krispy Kreme Doughnuts in financing its future projects, employee training and research & development programs.

Thank you for your consideration and interest in Krispy Kreme Doughnuts. I will telephone in approximately in two weeks to answer any questions and provide additional information if needed. If you complete your review and would like to discuss matters sooner, please contact me at your best convenience.

Sincerely,

Scott A. Livengood

President and CEO

Non-Disclosure Agreement

The undersigned acknowledges that Krispy Kreme Doughnuts has furnished to the undersigned potential Investor ("Investor") certain proprietary data ("Confidential Information") relating to the business affairs...