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                                                                   EXHIBIT 4b.1


       LEASE AGREEMENT BETWEEN RONAN O'CAOIMH, JONATHON O'CONNELL AND JIM
       WALSH WITH TRINITY BIOTECH PLC IN RESPECT OF WAREHOUSE PREMISES IN
                           BRAY, CO WICKLOW, IRELAND.







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THIS LEASE made the 18 day of October 2004
BETWEEN

(a)      LANDLORD:
         RONAN O'CAOIMH of Glencarraig, Delgany, Co. Wicklow

         JONATHAN O'CONNELL of 18 Belgrave Road, Monkstown, Co. Dublin

         JIM WALSH of Bramble Lodge, Kilcroney, Co. Wicklow

(b)      TENANT:
         TRINITY BIOTECH PLC
         having its Registered Office at IDA Business Park, Bray, County Wicklow

WITNESSETH as follows:-

1.       DEFINITIONS

         In this Lease, unless the context other requires,

         1.1      "Adjoining Property" means any land and buildings adjoining or
                  neighbouring the Demised Premises;

         1.2      "Building Control Act" means the Building Control Act, 1990
                  and any statutory extension, modification, amendment or
                  re-enactment of such Act for the time being in force;

         1.3      "Conduits" means all sewers, drains, soakaways, pipes,
                  gullies, gutters, ducts, mains, watercourses, channels,
                  subways, wires, cables, shafts, flues and other transmission
                  or conducting media and installations (including all fixings,
                  covers, cowls, louvres and other ancillary apparatus) of
                  whatsoever nature or kind or any of them;

         1.4      "Decorate" means paint (with at least two coats of good
                  quality paint), polish, repaper or otherwise treat as
                  appropriate all surfaces by stripping off, stopping, priming
                  or otherwise, as necessary, washing down washable surfaces,
                  treatment with suitable preservative and restoration, pointing
                  and making good stonework, brickwork, stucco, concrete and
                  other surfaces;

         1.5      "Demised Premises" means, save as provided in Clause 5.3.7,
                  the premises demised by this Lease and more particularly
                  described in the First Schedule;

         1.6      "Initial Rent" means IR(pound)150,0000 ((euro)190,460.71) per
                  annum;

         1.7      "Insured Risk" means, subject always to such insurance as may
                  ordinarily and reasonably be available to the Landlord and to
                  such exclusions, excesses and limitations as may be imposed by
                  the Landlord's Insurers for the time being in respect of any
                  or all of the following risks;

                  fire (including subterranean fire), storm, tempest, flood,
                  earthquake, lightning, explosion, impact by any road vehicle,
                  aircraft and other aerial devices and articles dropped
                  therefrom, riot, civil commotion and malicious damage,
                  bursting or overflowing of water tanks, apparatus or pipes and
                  such other risks as the Landlord may in its absolute
                  discretion from time to time determine;



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         1.8      "Landlord" means the party or parties named as "Landlord" at
                  the commencement of this Lease and includes the person for the
                  time being entitled to the reversion immediately expectant on
                  the determination of the Term;

         1.9      "this Lease" includes the Schedules and any document which is
                  made supplemental hereto or which is entered into pursuant to
                  or in accordance with the terms hereof;

         1.10     "Outgoings" means all rates, taxes and charges (including
                  emergency service charges) of any description (whether or not
                  of a capital or non-recurring nature) which may at any time
                  during the Term be payable in respect of the Demised Premises
                  and Utilities enjoyed in connection therewith INCLUDING any
                  insurance excesses or other sums not recoverable by the
                  Landlord (unless due to its neglect or default) but EXCLUDING
                  any tax payable by the Landlord upon the rents herein reserved
                  or occasioned by any disposition of or dealing with the
                  reversion of this Lease;

         1.11     "Permitted User" means manufacturing/office use;

         1.12     "the Perpetuity Period" means the period of 25 years from the
                  date of this Lease;

         1.13     "Plan" means the plan (if any) annexed to this Lease;

         1.14     "Planning Acts" means the Planning and Development Act 2000
                  and any statutory extension, modification, amendment or
                  re-enactment of such Act for the time being in force;

         1.15     "Plant" means any lifts, lift machinery, central heating and
                  air conditioning systems, sprinkler systems, boilers and other
                  electrical and mechanical machinery, equipment and apparatus
                  of whatsoever nature or kind and wherever installed in the
                  Demised Premises;

         1.16     "Prescribed Rate" means the rate per centum per month which
                  exceeds by one half per centum per month the monthly rate of
                  interest for the time being chargeable under Section 1080 of
                  the Taxes Consolidation Act 1997 (or other such monthly rate
                  of interest as may from time to time be chargeable upon
                  arrears of income tax) or, as the Landlord may from time to
                  time elect the rate of 15 per cent per annum;

         1.17     "Quarterly Gale Days" means the first day of January, first
                  day of April, first day of July and first day of October in
                  every year of the term;

         1.18     "Rent Commencement Date" means the 1st day of July 2000;

         1.19     "Superior Lease"means Indenture of Lease dated 2nd day of
                  February 2000 between the IDA Ireland of the one part and the
                  Landlord of the other part in respect of the Demised Premises;

         1.20     "Tenant" means the party or parties named as "Tenant" at the
                  commencement of this Lease and includes the person entitled
                  for the time being to the Tenant's interest created by this
                  Lease;

         1.21     "Term" means 20 years;

         1.22     "Term Commencement Date" means the 1st day of July 2000;

         1.23     "Utilities" means water, soil, steam, air, gas, electricity,
                  radio, television, telegraphic, telephonic and other
                  communications and other services of whatsoever nature;



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         1.24     "the 1860 Act" and the "1881 Act" mean respectively the
                  Landlord and Tenant Law Amendment Act, Ireland, 1860 and the
                  Conveyancing Act, 1881.

2.       INTERPRETATION

         2.1      Where two or more persons are included in the expression "the
                  Landlord" or "the Tenant", such expressions include all or
                  either or any of such persons and the covenants which are
                  expressed to be made by the Landlord or the Tenant shall be
                  deemed to be made by or with such persons jointly and
                  severally;

         2.2      Unless the context otherwise requires:-

                  2.2.1    words importing the person include any unincorporated
                           association or corporate body and vice versa;

                  2.2.2    any reference to the masculine gender includes
                           reference to the feminine gender and any reference to
                           the neuter gender includes the masculine and feminine
                           genders;

                  2.2.3    any reference to the singular includes reference to
                           the plural.

         2.3      References to any right of the Landlord to have access to or
                  entry upon the Demised Premises shall be construed as
                  extending to all persons authorised by the Landlord, including
                  agents, professional advisers, prospective purchasers of any
                  interest of the Landlord in the Demised Premises or in the
                  Adjoining Property, contractors, workmen and others.

         2.4      Any reference to a statute (whether specifically named or not)
                  or to any sections or sub-sections therein includes any
                  amendments or re-enactments thereof for the time being in
                  force and all statutory instruments, orders, notices,
                  regulations, directions, bye-laws, certificates, permissions
                  and plans for the time being made, issued or given thereunder
                  or deriving validity therefrom.

         2.5      Headings are inserted for convenience only and do not affect
                  the construction or interpretation of this Lease.

         2.6      Any reference to a clause, sub-clause or schedule means a
                  clause, sub-clause or schedule of this Lease.

         2.7      Wherever in this Lease either party is granted a future
                  interest in property there shall be deemed to be included in
                  every respect of every such grant a provision requiring that
                  future interest to vest within the Perpetuity Period.

         2.8      If any term or provision in this lease is held to be illegal
                  or unenforceable in whole or in part such term shall be deemed
                  not to form part of this Lease but the enforceability of the
                  remainder of the Lease is not affected.

3.       DEMISE AND RENTS

         THE Landlord in consideration of the rents herein reserved (including
         the increases thereof which may arise as hereinafter provided) and the
         covenants on the part of the Tenant hereinafter contained HEREBY
         DEMISES unto the Tenant the Demised Premises TOGETHER WITH ancillary
         rights and easements specified in the Second Schedule but EXCEPTING AND
         RESERVING the rights and easements specified in the Third Schedule TO
         HOLD the Demised Premises unto the Tenant from and including the Term
         Commencement Date for the Term SUBJECT TO all rights, easements,
         privileges, covenants, restrictions and stipulations of whatsoever
         nature affecting the Demised Premises YIELDING AND PAYING unto the
         Landlord during the Term;


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         3.1      Yearly and proportionately for any fraction of a year the
                  Initial Rent and, from and including each Review Date (as
                  defined in the Fourth Schedule), such yearly rent as becomes
                  payable under the Fourth Schedule, and in every case the same
                  is to be paid in the manner notified from time to time by the
                  Landlord by equal quarterly payments in advance on the
                  Quarterly Gale Days;

         3.2      All sums (including the cost of periodic valuations for
                  insurance purposes) which the Landlord may from time to time
                  pay for insuring the Demised Premises against the Insured
                  Risks and other matters referred to in clause 5.3, all such
                  sums to be paid on demand;

         3.3      Any other sum recoverable by the Landlord as costs or expenses
                  under this Lease, the same to be paid on demand.

4.       TENANT'S COVENANTS

         The Tenant throughout the term HEREBY COVENANTS with the Landlord as
         follows:-

         4.1      RENTS

                  To pay the rents in the manner specified in Clause 3 (save for
                  the first payments which shall be made on the execution of
                  this Lease) and without any deduction, set-off or counterclaim
                  whatsoever.

         4.2      INTEREST ON ARREARS

                  Without prejudice to any other right, remedy or power herein
                  contained or otherwise available to the Landlord, if any of
                  the rents (whether formally demanded or not) or other sums
                  specified in Clause 3 remain unpaid for more than twenty eight
                  days after the date when payment was due, to pay interest
                  thereon at the Prescribed Rate from and including the date on
                  which payment was due to the date of payment to the Landlord
                  (both before and after any judgement).

         4.3      OUTGOINGS

                  To pay and indemnify the Landlord against all Outgoings.

         4.4      SERVICE CHARGE

                  To reimburse to the Landlord the service charge that is
                  assessed on the Landlord for the demised premises by the IDA.

         4.5      REPAIRS

                  4.5.1    To repair the Demised Premises and keep them in good
                           repair, and, as often as may be necessary, to
                           rebuild, reinstate or replace the Demised Premises;

                  4.5.2    To maintain, repair and keep in good working order
                           and condition and, as often as may be necessary, to
                           renew and replace by articles of a similar kind and
                           quality all Plant and Conduits in, upon, over or
                           under the Demised Premises and to repair any damage
                           caused to the Demised Premises by the breakdown,
                           misuse of, or failure to repair such Plant and
                           Conduits and to indemnify the Landlord against any
                           loos or liability resulting therefrom;


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                  Provided that the Tenant's liability under clauses 4.5.1 and
                  4.5.2 does not extend to damage in respect of which the
                  Landlord is indemnified under a policy of insurance effected
                  under clause 5.3.1.1 or to damage in respect of which the
                  Landlord has no such entitlement through his own default and,
                  if the damage caused by any of the Insured Risks would
                  otherwise give rise to a right to surrender this Lease under
                  the provisions of section 40 of the 1860 Act or otherwise, the
                  Tenant hereby absolutely waives and abandons such right.

         4.6      DECORATION

                  To decorate in good and workmanlike manner, using good quality
                  materials so often as may be reasonably be required ( and in
                  any event in the last six months of the Term):-

                  4.6.1    all parts of the Demised Premises requiring
                           decoration.

         4.7      CLEANING AND MAINTENANCE

                  4.7.1    To keep all parts of the Demised Premises clean and
                           tidy;

                  4.7.2    To keep those parts which are not built upon properly
                           surfaced and free from weeds.

                  4.7.3    To keep all landscaped areas properly cultivated and
                           maintained, preserving any trees and shrubs in those
                           areas;

                  4.7.4    To clean properly at least once in every quarter all
                           windows and window frames and all other glass forming
                           part of the Demised Premises.

         4.8      YIELDING UP

                  At the expiration or sooner determination of the Term to yield
                  up the Demised Premises having:-

                  4.8.1    complied with all the Tenant's covenants contained in
                           this Lease; and

                  4.8.2    removed any moulding, sign, writing or painting of
                           the name or business of the Tenant or occupiers, and

                  4.8.3    if so required by the Landlord, but not otherwise,
                           removed all alterations or additions made to the
                           Demised Premises by the Tenant, together with any
                           Tenant's fixtures, fittings, furniture and effects,
                           and restored the Demised Premises to their original
                           prevailing condition.

         4.9      TENANT'S FIXTURES AND EFFECTS

                  4.9.1    The Tenant irrevocably appoints the Landlord to be
                           the Tenant's agent to store or dispose of (subject to
                           any conditions which the Landlord thinks fit) any
                           fixtures, fittings, furniture and effects left by the
                           Tenant on the Demised Premises for more than seven
                           days after the expiry or sooner determination of the
                           Term;

                  4.9.2    In acting under Clause 4.9.1 the Landlord is not
                           liable to the Tenant save having to account for the
                           net proceeds of sale less the cost of storage (if
                           any) and any other expenses reasonably incurred by
                           the Landlord.


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         4.10     RIGHTS OF ENTRY BY THE LANDLORD

                  To permit the Landlord and all necessary materials and
                  appliances at all reasonable times upon able not less than 48
                  hours prior notice (except in cases of emergency) to enter and
                  remain upon the Demised Premises for any of the following
                  purposes:-

                  4.10.1   to view and examine the state and condition of the
                           Demised Premises and to take schedules or inventories
                           of the Landlord's fixtures and fittings;

                  4.10.2   to exercise any of the rights, excepted and reserved
                           by, and to carry out any obligations arising under,
                           this Lease.

         4.11     COMPLIANCE WITH NOTICES

                  Upon written notices being given by the Landlord to the Tenant
                  of any breach of covenant:-

                  4.11.1   to make good and remedy within sixty days of such
                           notices, or sooner if required in the notice, the
                           breach to the reasonable satisfaction of the
                           Landlord;

                  4.11.2   if the Tenant fails within twenty-one days of such
                           notice or as soon as reasonably possible in the case
                           of an emergency, to commence and then diligently and
                           expeditiously to continue to comply with such notice,
                           to permit the Landlord to enter the Demised Premises
                           and carry out all or any of the works or other steps
                           necessary for compliance with the notice;

                  4.11.3   to pay all costs and expenses thereby incurred to the
                           Landlord on demand.


         4.12     OPERATIONAL OF THE DEMISED PREMISES

                  Not to engage in any activity in or on the Demised Premises
                  which may result in:-

                  4.12.1   a material increase in the risk of one or more of the
                           Insured Risks happening or of contamination,
                           pollution, or overloading in, on or to the Demised
                           Premises;

                  4.12.2   the creation of any nuisance, annoyance or
                           disturbance affecting the enjoyment of the Adjoining
                           Property, or the value or character of the Demised
                           Premises;

                  4.12.3   the obstruction of or interference with the ancillary
                           rights specified in the Second Schedule or with the
                           rights of owners and occupiers or appliances
                           installed in the Demised Premises;

                  4.12.4   the interference with or malfunctioning of any fire
                           and safety equipment or appliances installed in the
                           Demised Premises;

                  4.12.5   the Landlord incurring liability or expense under any
                           statutory provision;

                  4.12.6   not to erect, place or display on the exterior or on
                           the windows of the Demised Premises any sign or other
                           item whatsoever without obtaining the prior written
                           consent of the Landlord, which consent shall not be
                           unreasonably withheld.


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         4.13     USER

                  4.13.1   Not without the prior written consent of the Landlord
                           (which consent shall not be unreasonably withheld or
                           delayed) to use the Demised Premises except for the
                           Permitted User nor to make any application for
                           planning permission or a fire safety certificate in
                           regard to any change of user or other development
                           relating to the Demised Premises without first giving
                           notice in writing to the Landlord of the intention to
                           make such an application;

                  4.13.2   to provide such caretaking or security arrangements
                           as the Landlord or the insurers of the Demised
                           Premises shall reasonably require in order to protect
                           the Demised Premises from vandalism, theft or
                           unlawful occupation;

                  4.13.3   to provide the Landlord with the name, address and
                           home telephone number of at least two authorised key
                           holders for the time being of the Demised Premises
                           and to notify the Landlord of any changes in the
                           persons so authorised as key holders of the Demised
                           Premises;

                  4.13.4   Not to use the Demised Premises for any public or
                           political meeting, public exhibition or public
                           entertainment, show or spectacle of any kind, nor for
                           any dangerous, noisy, noxious or offensive trade,
                           business or occupation whatsoever, nor for any
                           illegal or immoral purpose, nor for residential or
                           sleeping purposes;

                  4.13.5   Not to use the Demised Premises or any part thereof
                           for gambling, betting, gaming or wagering, or as a
                           betting office, or as a club, or for the sale of
                           beer, wine and spirits, nor to hold any auction on
                           the Demised Premises.

         4.14     ALTERATIONS

                  4.14.1   Not to erect any new building or structure or to
                           engage in any works on, or to make any addition or
                           alterations to the Demised Premises of such a kind
                           that the Demised Premises lose their original
                           identity;

                  4.14.2   Not to make any other addition or alterations to the
                           Demised Premises without the prior written consent of
                           the Landlord (which consent shall not be unreasonably
                           withheld or delayed);

                  4.14.3   The Landlord may, as a condition of giving consent
                           under the immediately preceding sub-clause, require
                           the Tenant to enter into reasonable covenants or
                           undertakings as to the carrying out and insurance of
                           the additions or alterations to the Demised Premises
                           and as to their reinstatement to their original state
                           at the expiration or sooner determination of the
                           Term;

                  4.14.4   In respect of such additions or alterations, to
                           comply in all respects with the provisions, as
                           appropriate, of the Planning Acts and the Building
                           Control Act and to carry out any related works in a
                           good and workmanlike manner to the satisfaction of
                           the Landlord.

         4.15     ALIENATION

                  4.15.1   Not to assign, sublet, part with or share the
                           possession of the entirety of the Demised Premises
                           without the prior written consent of the Landlord
                           (which consent shall not be unreasonably withheld or
                           delayed);

                  4.15.2   Not under any circumstances to assign, sub-let, part
                           with or share the possession of or otherwise alienate
                           a part of the Demised Premises;


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                  4.15.3   The Tenant in seeking consent to any proposed
                           alienation shall apply in writing to the Landlord and
                           shall provide all information concerning the
                           alienation as the Landlord may reasonably require;

                  4.15.4   In granting consent to any such proposed alienation
                           the Landlord may impose such conditions as are
                           reasonable in all the circumstances.

                  4.15.5   Notwithstanding the provisions of this Clause 4.15 it
                           is hereby agreed that for so long as Trinity Biotech
                           plc is the Tenant is shall be entitled to share
                           occupation of the Demised Premises with any other
                           company or companies which are members of the same
                           group of companies.

         4.16     REGISTRATION OF DISPOSITIONS

                  To furnish to the Landlord or its solicitors within twenty-one
                  days of the alienation a certified copy of the deed or other
                  instrument evidencing or effecting any alienation of or
                  relating to the Demised Premises.

         4.17     LANDLORD'S EXPENSES

                  To pay and indemnify the Landlord against all reasonable and
                  proper costs and expenses properly incurred by the Landlord in
                  relation to:

                  4.17.1   the preparation and service of any notice and of any
                           proceedings under the 1860 Act or the 1881Act;

                  4.17.2   the preparation and service of any notice and
                           schedule relation to disrepair;

                  4.17.3   procuring the remedying of any breach of covenant by
                           the Tenant;

                  4.17.4   any application for consent required under the terms
                           of this Lease (whether such consent is granted or
                           not);

                  4.17.5   any other action taken at the request of the Tenant.

         4.18     STATUTORY REQUIREMENTS

                  4.18.1   At the Tenant's own expense, to comply in all
                           respects in relation to the Demised Premises with-

                           4.18.1.1 all obligations and requirements arising
                                    from or under any statutory provision or
                                    imposed under powers conferred on any
                                    authority or court of competent
                                    jurisdiction;

                           4.18.1.2 any reasonable and proper demand by the
                                    Landlord for production of plans, documents
                                    and other evidence which the Landlord may
                                    require in order to satisfy itself that the
                                    provisions of this clause have been or will
                                    be complied with.

                  4.18.2   Upon receipt of any notice or order relating to the
                           Demised Premises or the occupier thereof or of any
                           proposal for the same served or given under the
                           Planning Acts, the Building Control Act or any other
                           statutory provisions forthwith-

                           4.18.2.1 to furnish the Landlord with a true copy
                                    thereof and any further particulars required
                                    by the Landlord.


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                           4.18.2.2 to take all necessary steps to comply with
                                    the notice or order;

                           4.18.2.3 At the written request and cost of the
                                    Landlord to make or join with the Landlord
                                    in making such objection or representation
                                    against or in respect of any such notice,
                                    order or proposal as the Landlord may
                                    reasonably require.

         4.19     ENCROACHMENTS AND EASEMENTS

                  4.19.1   Not to stop up, darken or obstruct any window, rights
                           of light or rights of way belonging to the Demised
                           Premises;

                  4.19.2   Not to permit any new easements, encroachment, or any
                           other third party rights to be made or enjoyed over
                           or in respect of the Demised Premises or to
                           acknowledge their existence or to grant any such
                           rights;

                  4.19.3   As soon as the Tenant is aware of any attempt to
                           claim or exercise such third party rights, forthwith
                           to give written notice thereof to the Landlord and,
                           at the request of the Landlord, to take such steps as
                           may be reasonably required by the Landlord to prevent
                           their acquisition or otherwise deal with them.

         4.20     RELETTING AND PLANNING APPLICATION NOTICES

                  To permit the Landlord at all reasonable times during the last
                  six months of the term to enter upon the Demised Premises and
                  affix and retain without interference upon any suitable parts
                  of the Demised Premises (but not so as materially to affect
                  the access of light and air to the Demised Premises) notices
                  of reletting the same and, as appropriate, any site notice
                  relating to a planning application and to permit all persons
                  with the written authority of the Landlord or its agent to
                  view the Demised Premises at all reasonable hours in the
                  daytime, upon prior notice having been given.

         4.21     INDEMNITY

                  4.21.1   To keep the Landlord fully indemnified from and
                           against all actions, proceedings, claims, demands,
                           losses, costs, expenses, damages and liability
                           arising directly or indirectly from:-

                           4.21.1.1 breach by the Tenant of any of the
                                    provisions of this Lease;

                           4.21.1.2 the use of or works carried out on or to the
                                    Demised Premises during the term.

                           4.21.1.3 any act, neglect or default by the Tenant or
                                    any person on the Demised Premises with its
                                    actual or implied authority.

                  4.21.2   To effect and keep in force such public liability,
                           employer's liability and other policies of insurance
                           (to the extent that such insurance cover is
                           available) as may be necessary to cover the Tenant
                           against any claim arising under the preceding
                           sub-clause and to extend such policy or policies so
                           that the Landlord is indemnified by the Insurers in
                           the same manner as the Tenant.

                  4.21.3   Whenever required to do so by the Landlord, to
                           produce to the Landlord the said policy or policies
                           together with satisfactory evidence that the same
                           is/are valid and subsisting and that all premiums due
                           thereon have been paid.


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         4.22     STAMP DUTY AND VALUE ADDED TAX

                  To pay to the Landlord

                  4.22.1   any stamp duty payable on this Lease and its
                           counterpart together with registration fees;

                  4.22.2   any Value Added Tax arising from the grant of this
                           Lease or on the rents reserved by it.

         4.23     INSURANCE

                  4.23.1   Not to do or omit to do anything which might cause
                           any policy of insurance relating to the Demised
                           Premises or any Adjoining Property owned by the
                           Landlord to become void or voidable wholly or in part
                           nor (unless the Tenant has previously notified the
                           Landlord and agreed to pay the increased premium) to
                           do anything whereby any abnormal or loaded premium
                           becomes payable.

                  4.23.2   Subject to the Landlord furnishing the Tenant with a
                           copy of any policy of insurance effected under clause
                           5.3, to comply, at the Tenant's own expense, with all
                           the requirements under that policy and the
                           recommendations of the insurers relating to the
                           Demised Premises.

                           4.23.2.1 To pay within seven days of their becoming
                                    payable all premiums relating to any such
                                    insurance, and whenever reasonably required
                                    by the Landlord, to produce the policy of
                                    insurance and the receipt for the current
                                    year's premium.

5.       LANDLORD COVENANTS

         The Landlord HEREBY COVENANTS with the Tenant as follows:-

         5.1      QUIET ENJOYMENT

                  To permit the Tenant, provided it pays the rent reserved by
                  and otherwise complies with the provisions of this Lease,
                  peaceably to hold and enjoy the Demised Premises during the
                  Term without any interruption by the Landlord or any person
                  lawfully claiming through, under or in trust for it.

         5.2      EXERCISE OF RIGHTS

                  In exercising any of the Landlord's rights of entry or other
                  rights in relation to the Demised Premises:-

                  5.2.1    to take all necessary steps to ensure that as little
                           damage is done to the Demised Premises and as little
                           inconvenience is caused to their occupiers as is
                           reasonably practicable;

                  5.2.2    to make good without delay any damage which may be
                           caused by such exercise.

         5.3      INSURANCE

                  5.3.1    Subject to reimbursement by the Tenant of the
                           premiums payable by the Landlord, to insure and keep
                           insured with an insurer of repute located in Ireland
                           in the name of the Landlord:-


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                           5.3.1.1  the Demised Premises against loss or damage
                                    by the Insured Risks in the full
                                    reinstatement costs thereof (to be
                                    determined from time to time by the Landlord
                                    or his professional adviser) including:-

                                    Architects, Surveyors, Consultants and other
                                    professional fees (including Value Added Tax
                                    thereon);

                                    The costs of shoring up, demolishing, site
                                    clearing and similar expense;

                                    All stamp duty and other taxes or duties
                                    exigible on any building or like contract as
                                    may be entered into and all incidental
                                    expenses (including planning and building
                                    regulation fees) relative to the
                                    reconstruction, reinstatement or repair of
                                    the Demised Premises;

                                    Such provision for inflation as the Landlord
                                    in its reasonable discretion shall deem
                                    appropriate;

                           5.3.1.2  the loss of rent from time to time payable,
                                    or reasonably estimated to be payable, under
                                    this Lease (taking account of any review of
                                    the rent which may become due under this
                                    Lease) following loss or damage to the
                                    Demised Premises by the Insured Risks, for
                                    three years or such longer period as the
                                    Landlord may, from time to time, reasonably
                                    deem to be necessary, having regard to the
                                    likely period required for rebuilding and
                                    for obtaining planning permission and any
                                    other consents, certificates and approvals
                                    in connection with the reinstatement of the
                                    Demised Premises;

                           5.3.1.3  the property owner's public, employer's and
                                    other liability of the Landlord arising out
                                    of or in relation to the Demised Premises;

                           5.3.1.4  such other insurance as the Landlord may, in
                                    its reasonable discretion, from time to time
                                    deem necessary to effect.

                  5.3.2    At the request of the Tenant, the Landlord shall
                           produce to the Tenant a copy extract duly certified
                           by the Insurance Company or the Landlord's Insurance
                           Broker of such insurance policy or policies and a
                           copy of the receipt for the last premium or (at the
                           Landlord's option) reasonable evidence from the
                           Insurers of the terms of the insurance policy or
                           policies and the fact that it is or they are
                           subsisting and in effect.

                  5.3.3    If the Demised Premises are destroyed or damaged by
                           any of the Insured Risks then:

                           5.3.3.1  unless payment of any of the insurance
                                    monies are refused by reason of any act or
                                    default of the Tenant, any under-tenant or
                                    any person under its or their control; and

                           5.3.3.2  subject to the Landlord being able to obtain
                                    any necessary planning permission and other
                                    necessary licences, certificates, approvals
                                    and consents (which the Landlord shall use
                                    its reasonable endeavours to obtain); and

                           5.3.3.3  subject to the necessary labour and
                                    materials being and remaining available
                                    (which the Landlord shall use its reasonable
                                    endeavours to obtain as soon as
                                    practicable); and

                           5.3.3.4  subject to exercise of the right to
                                    terminate the lease under this clause: the
                                    Landlord shall as soon as possible lay out
                                    the proceeds of insurance effect under
                                    clause 5.3.1.1 rebuilding and reinstating
                                    the Demised Premises as necessary to make
                                    them substantially the same as they were
                                    prior to the destruction or damage (but not
                                    so as to provide accommodation identical in
                                    layout and manner or method of construction
                                    if it would not be reasonably practical to
                                    do so).


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<PAGE>

                  5.3.4    If the Landlord is prevented (for any reason other
                           than its act or default) from compliance with the
                           previous provisions of this clause the following
                           provisions apply:

                           5.3.4.1  the Landlord is relieved of its obligations
                                    and is solely entitled to all insurance
                                    monies;

                           5.3.4.2  if the prevention continues for three years
                                    and the Lease is not otherwise terminated,
                                    the Landlord or the Tenant may at any time
                                    after expiry of that period by written
                                    notice given to the other party determine
                                    this Lease, but without prejudice to any
                                    claim by either party against the other in
                                    respect of any antecedent breach of its
                                    terms;

                  5.3.5    If the destruction or damage to the Demised Premises
                           renders them unfit for use and occupation and
                           provided the insurance has not been vitiated nor
                           payment of any insurance monies refused by reason of
                           any act or default of the Tenant, any under tenant or
                           any person under its or their control, the rent
                           payable under clauses 3.1 of this Lease shall be
                           suspended in accordance with the following
                           provisions:-

                           5.3.5.1  the rent suspended shall be the whole rent
                                    or such proportion as is fair according to
                                    the nature and extent of the damage to the
                                    Demised Premises;

                           5.3.5.2  the suspension shall last until either the
                                    Demised Premises are again rendered fit for
                                    use and occupation or the expiration of
                                    three years (or such longer period as the
                                    Landlord may have insured against) from the
                                    date of destruction or damage, whichever is
                                    the earlier;

                           5.3.5.3  where the destruction or damage occurs
                                    during a quarter in respect of which rent
                                    has been paid in advance, the Landlord shall
                                    refund to the Tenant the proportion of that
                                    rent (apportioned on a daily basis) which is
                                    attributable to the period following the
                                    date of destruction of that damage;

                           5.3.5.4  any dispute regarding suspension of rent
                                    shall be determined by a single arbitrator
                                    to be appointed, in default of agreement,
                                    upon the application of either party, by or
                                    on behalf of the President or acting
                                    President for the time being of the Society
                                    of Chartered Surveyors or in accordance with
                                    the provisions of the Arbitration Act,
                                    1954-1998.

                  5.3.6    As and when requested from time to time by the
                           Tenant, the Landlord shall use its best endeavours;

                           5.3.6.1  to obtain from the Landlord's insurers a
                                    waiver of its subrogation rights (if any)
                                    against the Tenant in respect of the Demised
                                    Premises so long as such a waiver is
                                    available in the insurance market from a
                                    reputable insurers located in Ireland and
                                    any costs reasonably incurred thereby are
                                    discharged by the tenant;

                           5.3.6.2  to ensure that the insurance policy or
                                    policies in respect of the Insured Risks
                                    contain a provision that the insurance is
                                    not invalidated by any change of occupancy
                                    or increase or risk taking place in or on
                                    the Demised Premises without the knowledge
                                    of the Landlord provided that the Landlord
                                    shall immediately upon the same coming to
                                    its knowledge give notice to the insurers
                                    and the Tenant shall pay any additional
                                    premiums as may be requested from the date
                                    of such increase of risk.


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<PAGE>

                  5.3.7    For the purposes of this clause "Demised Premises" do
                           not include (unless otherwise specified by the
                           Landlord) any additions, alterations or improvements
                           carried out or being carried out by the Tenant.

         5.4      The Landlord covenants and agrees that it shall perform and
                  observe all of the Tenant's covenants and obligations under
                  the Superior Lease.

6.       PROVISOS

         PROVIDED ALWAYS as follows:-

         6.1      FORFEITURE

                  Without prejudice to any other right, remedy or power herein
                  contained or otherwise available to the Landlord if:

                  6.1.1    the whole or any part of the rents or other sums
                           reserved by this Lease is unpaid for twenty eight
                           days after becoming payable (whether formally
                           demanded or not); or

                  6.1.2    there is a material breach of any of the Tenant's
                           covenants; or

                  6.1.3    if the Tenant has a winding-up petition presented
                           against it or passes a winding-up resolution (other
                           than in connection with a members' voluntary
                           winding-up for the purposes of amalgamation or
                           reconstruction which has the prior written approval
                           of the Landlord) or resolves to present its own
                           winding-up petition or is wound-up (whether in
                           Ireland or elsewhere) or a Receiver and Manager is
                           appointed in respect of the Demised Premises or of
                           the Tenant; or

                  6.1.4    if the Tenant has a bankruptcy petition presented
                           against him or is adjudged bankrupt (whether in
                           Ireland or elsewhere) or suffers any distress or
                           execution to be levied on the Demised Premises or
                           enters into composition with his creditors or has a
                           receiving order made against him;

                           THEN, and in any such case, the Landlord may at any
                           time thereafter re-enter the Demised Premises and
                           thereupon the Term absolutely ceases and determines,
                           but without prejudice to any rights or remedies which
                           may then have accrued to the Landlord against the
                           Tenant in respect of any antecedent breach of any of
                           the covenants or conditions contained in this Lease.


         6.2      NO IMPLIED EASEMENTS

                  Nothing in this Lease shall impliedly confer upon or grant to
                  the Tenant any easement, right or privilege other than those
                  expressly granted (if any) by it.

         6.3      EXCLUSION OF WARRANTY AS TO USER

                  Nothing contained in this Lease or in any consent granted or
                  approval given by the Landlord under it implies or warrants
                  that the Demised Premises may be used under the Planning Acts
                  or the Building Control Act for the purpose herein authorised
                  or any purpose subsequently authorised and the Tenant hereby
                  acknowledges that the Landlord has not given or made at any
                  time any representation or warranty that any such use is or
                  will be or will remain a permitted use under those Acts.


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<PAGE>

         6.4      REPRESENTATION

                  The Tenant acknowledges that this Lease has not been entered
                  into in reliance wholly or partly on any statement or
                  representation made by or on behalf of the Landlord, except
                  any such statement or representation that is expressly set out
                  in this Lease.

         6.5      COVENANTS RELATING TO ADJOINING PROPERTY

                  Nothing contained in or implied by this Lease shall give to
                  the Tenant the benefit of or the right to enforce or to
                  prevent the release or modification of any covenant, agreement
                  or condition entered into by any tenant of the Landlord in
                  respect of the Adjoining Property.

         6.6      EFFECT OF WAIVER

                  Each of the Tenant's covenants shall remain in full force both
                  at law and in equity notwithstanding that the Landlord may
                  have appeared to have waived or released temporarily any such
                  covenant, or waived or released temporarily or permanently,
                  revocably or irrevocably a similar covenant affecting other
                  property belonging to the Landlord.

         6.7      APPLICABLE LAW

                  This Lease and all relationships created thereby shall in all
                  respects be governed by and construed and interpreted in
                  accordance with Irish Law.

         6.8      NOTICES

                  6.8.1    Any demand or notice required to be made, given to,
                           or served on the Tenant under this Lease is duly and
                           validly made, given or severed if addressed to the
                           Tenant (or, if the Tenant comprises more than one
                           person, then to any of them) and delivered
                           personally, or sent by prepaid registered or recorded
                           delivery mail, or sent by telex or telegraphic
                           facsimile transmission addressed (in the case of a
                           company) to its registered office or (whether a
                           company or individual) to its last known address, or
                           to the Demised Premises;

                  6.8.2    Any notice required to be given or served on the
                           Landlord is duly and validly given or served if sent
                           by pre-paid registered or recorded delivery mail, or
                           sent by telex or telegraphic transmission addressed
                           to the Landlord at its registered office.

7.       FINANCE CERTIFICATES

         7.1      It is hereby certified that the transaction hereby effected
                  does not form part of a larger transaction or of a series of
                  transactions in respect of which the amount or value or the
                  aggregate amount or value of the consideration (other than
                  rent) exceeds (euro)6,350 and.

         7.2      That the lease is wholly attributable to property which is not
                  residential property;

         7.3      That section 53 of the Stamp Duties Consolidation Act 1999
                  (lease combined with building agreement for
                  dwellinghouse/apartment) does not apply to this instrument.

8.       ASSENT

         The Landlord hereby assents to the registration of this Lease as a
         burden on Folio 3533L of the Register of Leaseholders County Wicklow
         and hereby consents to the use of the Land Certificate(s) (if issued)
         of the said Folio(s) for the purposes of such registration.

IN WITNESS whereof the parties hereto have executed this Lease in the manner
following and on the day and year first above WRITTEN.


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<PAGE>


                                 FIRST SCHEDULE
                               (DEMISED PREMISES)

ALL THAT and those the portion of lands comprised in Folio 3533L of the Register
of Leaseholders County Wicklow together with the buildings erected thereon shown
for the purposes of identification only outlined in red on the Plan and each and
every part thereof and all the appurtenances belonging thereto and known as IDA
Business Park and situate at Bray in the County of Wicklow and including without
prejudice to the generality of the foregoing TOGETHER WITH a right of way over
the area marked blue at all times hereafter by day and night on foot and with
motor vehicles for all purposes connected with the use of the Demised Premises
in common with the Landlord, their Agents, Licencees, Assignees,

all the Conduits and Plant in, upon, over or under the exclusivity serving the
same;

all Landlord's fixtures and fittings now or hereafter in or upon same;

all additions, alterations and improvements thereto;

but excluding the airspace above and the ground below the Demised Premises.

                                 SECOND SCHEDULE
                               (ANCILLARY RIGHTS)

The following rights and easements are demised (to the extent only that the
Landlord is entitled to make such a grant) to the Tenant to be enjoyed in common
with the Landlord and the tenants and occupiers of the Adjoining Property and
all other persons authorised by the Landlord or having the like rights and
easements;

1.     the free uninterrupted passage and running of the Utilities to and from
       the Demised Premises through the Conduits which are now, or may at any
       time during the Term be, in, on, under or passing through or over the
       Adjoining Property;

2.     the right to enter the airspace above the roof of the Demised Premises,
       for the sole purpose of carrying out any works for which the Tenant is
       liable under this Lease.

                                 THIRD SCHEDULE
                          (EXCEPTIONS AND RESERVATIONS)

The following rights and easements and excepted and reserved out of the Demised
Premises to the Landlord and all other persons authorised by the Landlord or
having the like rights and easements;

1.     The free and uninterrupted passage and running of the Utilities through
       the Conduits which are now, or may at any time during the Term be, in,
       on, under, or passing through or over the Demised Premises;

2.     The right of light, air, support, protection and shelter and all other
       easements and rights now or hereafter belonging to or enjoyed by the
       Adjoining Property;

3.     The ground below the Demised Premises;

4.     Full right and liberty at any time hereafter to raise the height of, or
       make any alterations or additions or execute any other works to any
       buildings on the Adjoining Property, or to erect any new buildings of any
       height on the Adjoining Property in such manner as the Landlord or the
       person exercising the right shall think fit notwithstanding the fact that
       the same may obstruct, affect or interfere with the amenity of, or access
       to, the Demised Premises or the passage of light and air to the Demised
       Premises but not so that the Tenant's use and occupation thereof is
       materially affected;


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<PAGE>

5.     The right, subject to recompensing the Tenant for any damage caused
       thereby, to build on or into any boundary or party wall of the Demised
       Premises and, after giving not less than seven days prior written notice,
       to enter the Demised Premises to place and lay in, under or upon the same
       such fittings for any intended party walls or party structure with the
       foundation therefor as the Landlord shall reasonably think necessary and
       for such purpose to excavate the Demised Premises along the line of the
       junction between the Demised Premises and the Adjoining Property and also
       to keep and maintain the said footings and foundations;

6.     All mines and minerals in or under the Demised Premises with full power
       of working and getting to the same provided reasonable compensation is
       paid to the Tenant for any damage thereby occasioned to the Demised
       Premises.

                                 FOURTH SCHEDULE
                                  (RENT REVIEW)

1.     DEFINITIONS

       In this Schedule the following expressions shall have the following
       meanings:-

       1.1    "Base Rate" means the annual rate of interest for the time being
              chargeable under Section 22 of the Courts Act, 1990;

       1.2    "the Institute" means the Irish Auctioneers and Valuers Institute;

       1.3    "the Law Society" means the Law Society of Ireland;

       1.4    "Relevant Review Date" means each of the first day of the sixth,
              the eleventh, the sixteenth, year of the Term and any additional
              date notified under clause 7 of this Fourth Schedule and "Relevant
              Review Date" shall be construed accordingly;

       1.5    "The Reviewed Rent" means the rent agreed or determined in
              accordance with the provisions of this Schedule;

       1.6    "the Society" means the Society of Chartered Surveyors.

2.     UPWARDS ONLY RENT REVIEW

       The rent first reserved by this Lease shall be reviewed at each Review
       Date in accordance with the provisions of this Schedule and from and
       including each Review Date, the rent shall equal the higher of either the
       rent contractually payable immediately before the Relevant Review Date or
       the open market rent on the Relevant Review Date, as agreed or determined
       pursuant to the provisions of this Schedule.

3.     AGREEMENT OR DETERMINATION OF THE REVIEWED RENT.

       3.1    the Reviewed Rent may be agreed at any time between the Landlord
              and the Tenant or, in the absence of agreement be determined not
              earlier than the Relevant Review Date by an Arbitrator to be
              nominated, in the absence of agreement between the parties, upon
              the application (made not more than two calendar months before or
              at any time after the Review Date) of either the Landlord or the
              Tenant by either the Present of the Law Society, or the President
              of the Institute or the President of the Society at the discretion
              of the party entitled to make the application.


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<PAGE>

       3.2    In the event of the president or officer endowed with the
              functions of the said President of the Law Society or the
              Institute or the Society, being unable or unwilling to make the
              nomination therein mentioned the same may be made by the next
              senior Officer of the Law Society or the Institute or the Society
              who shall be so able and willing.

4.     THE ARBITRATOR

       4.1    All arbitrations hereunder shall be conducted in accordance with
              the provisions set forth in the Arbitration Acts, 1954-1998.

       4.2    If the Arbitrator relinquishes his appointment or dies or if it
              becomes apparent that for any reason he is unable or has become
              unfit or unsuited (whether because of bias or otherwise) to
              complete his duties or if he is removed from office by Court
              Order, a substitute may be nominated in his place and in relation
              to any such nomination the procedures hereinbefore set forth apply
              as though the substitution were a nomination de novo, which said
              procedures may be repeated as many times as may be necessary.

5.     DETERMINATION BY ARBITRATOR

       The Reviewed Rent to be determined, by the Arbitrator shall be such as in
       his opinion represents at the Review Date the full open market, yearly
       rent for the Demised Premises let as a whole without fine or premium:

       ON THE BASIS of a letting with vacant possession thereof by a willing
       landlord to a willing tenant for a term (commencing on the Review Date)
       equal to the greater of fifteen years or the residue the unexpired of the
       Term and subject to the provisions of this Lease (other than as to the
       amount of the Initial Rent but including such of said provisions as
       pertain to the review of rent);

       ON THE ASSUMPTION that:-

       At and until the Review Date all the covenants on the part of the Tenant
       and the conditions contained in this Lease have been fully performed and
       observed;

       In the event of the Demised Premises having been damaged or destroyed and
       not having been fully repaired, reinstated or rebuilt (as the case may
       be) such damage or destruction had not occurred; and

       HAVING REGARD to other open market rental values current at the Review
       Date insofar as the Arbitrator may deem same to be pertinent to the
       determination;

       BUT DISREGARDING any effect on letting value of:-

       The fact that the Tenant is or has been in occupation of the Demised
       Premises or any part thereof;

       The goodwill which has attached to the Demised Premises by reason of the
       business carried on thereat;


                                       18
<PAGE>

       Any works executed by and at the expense of the Tenant in, on, to or in
       respect of the Demised Premises other than required works PROVIDED that
       in the interpretation of this sub-paragraph (c):-

       The expression "required works" means works executed by the Tenant in
       pursuance of an obligation imposed on the Tenant by this Lease or by any
       Lease of which this Lease is a renewal (other than works which may be
       required pursuant to clause 4.18 or by virtue of any licence or deed of
       variation relating to the Demised Premises.

6.     INTERIM PAYMENTS PENDING DETERMINATION

       6.1    If the reviewed rent in respect of any period ("the Current
              Period") is not ascertained on or before the Review Date referable
              thereto, rent shall continue to be payable up to the quarter Gale
              Day next succeeding the ascertainment of the reviewed rent at the
              rate payable during the preceding period AND within seven days of
              such ascertainment the Tenant shall pay to the Landlord the
              appropriate instalment of the reviewed rent together with any
              shortfall between (i) the aggregate of rents actually paid for any
              part of the Current Period and (ii) rent at the rate of the
              reviewed rent attributable to the interval between the Review Date
              and such Quarterly Gale Day and together also with interest at the
              Base Rate on said shortfall, such interest to be computed on a day
              to day basis.

       6.2    For the purpose of this paragraph the reviewed rent shall be
              deemed to have been ascertained on the date when the same shall
              have been agreed between the parties or, as the case may be on the
              date of the notification to the Tenant of the determination of the
              Arbitrator.

7.     RENT RESTRICTIONS

       If at a Review Date the Landlord's right to collect, review or increase
       the rent as and from that Review Date in accordance with this Lease is
       restricted or modified by law, then when such restriction or modification
       is removed, relaxed or modified, the Landlord may, by giving not less
       than seven days' notice in writing to the Tenant, prescribe as an
       additional Review Date the date of expiration of such notice and the rent
       payable from such additional Review Date shall be ascertained in
       accordance with this Schedule.

8.     MEMORANDA OF REVIEWED RENT

       As soon as the amount of any reviewed rent has been agreed or determined,
       memoranda thereof shall be prepared by the Landlord or its solicitors and
       thereupon shall be signed by or on behalf of the Tenant and the Landlord
       and the Tenant shall be responsible for and shall pay to the Landlord the
       stamp duty (if any) payable on such memoranda and any counterparts
       thereof, but the parties shall each bear their own costs in respect
       thereof.

9.     TIME NOT OF THE ESSENCE

       For the purpose of this Schedule, time is not of the essence.



                                       19
<PAGE>

       SIGNED SEALED AND DELIVERED
       by the said RONAN O'CAOIMH
       JONATHAN O'CONNELL AND
       JIM WALSH in the presence of:-







       PRESENT when the Common Seal of
       TRINITY BIOTECH PLC was affixed hereto:-




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