GOLDEN GATE INVESTORS, INC.
                          1795 UNION STREET, 3rd FLOOR
                        SAN FRANCISCO, CALIFORNIA 94123
                            TELEPHONE: (415) 409-8703
                            FACSIMILE: (415) 409-8704
                            E-MAIL: LJCI@PACBELL.NET
LA  JOLLA                     www.ljcinvestors.com              SAN  FRANCISCO


                                  July 6, 2004



Mr. Bill Forhan
Invicta Group, Inc.
9553 Harding Avenue, Suite 301
Miami Beach, Florida 33154


Dear Bill:

Reference is made to the 7   % Convertible Debenture, Warrant to Purchase Common
Stock,  Securities  Purchase  Agreement  and  Registration Rights Agreement, all
dated  April  27,  2004  between  Invicta Group Inc. ("Invicta") and Golden Gate
Investors, Inc. ("GGI"). Capitalized terms used herein and not otherwise defined
herein  shall  have  the  definitions  set  forth  in the Convertible Debenture.

Section  XIX  of  the Securities Purchase Agreement is hereby amended to read as
follows:

XIX.     ASSIGNMENT

This  Agreement  shall  not  be  assignable  by  either  of  the parties hereto.

If  this  letter correctly reflects our agreement, please acknowledge by signing
below.

Sincerely,


/s/  Robert  L.  Lizt
Assistant  Portfolio  Manager


Invicta  Group,  Inc.

By:     /s/  Bill  Forhan_

Title:  CEO