SECURITIES PURCHASE AGREEMENT This SECURITIES PURCHASE AGREEMENT (this "Agreement") is made and entered into as of February 25, 1998 by and between Saratoga Beverage Group, Inc., a Delaware corporation (the "Company"), and Steel Partners II, L.P., a...Securities Purchase Agreement • March 4th, 1998 • Steel Partners Ii L P • Bottled & canned soft drinks & carbonated waters • New York
