ABN
      59
      056 210 774

    Unit
      13,
      112-118 Talavera Road, 

    NORTH
      RYDE NSW 2113 Australia

    Ph:
      + 61
      2 8817 4700

    Fax:
      + 61
      2 8817 4770

    www.ebetonline.com

    


    8
      February, 2008

    


    Octavian
      International Limited

    Bury
      House

    1-3
      Bury
      Street

    Guildford

    SURREY GU2
      4AW UNITED
      KINGDOM

    


    Attention
      : Harmen Brenninkmeijer/Hans Zeidler

    


    Dear
      Sirs,

    


    Deed
      of Agreement dated 16 January, 2008

    


    We
      refer
      to the above agreement ("Agreement")
      and
      advise that:

    


    
      	
              1

            	
              eBet
                has not received Octavian's monthly profit and loss account, balance
                sheet
                and cashflows for the month of December, 2007 as required by clause
                7.1(a);

            


    

     

    
      	
              2

            	
              eBet
                has not received written confirmation from Octavian that all outstanding
                contracts entered into by Octavian personnel in the name of Octavian
                Global Technologies Limited (ACN 056 210 778), have been terminated
                or
                novated as required by clause 7.3;

            


    

     

    
      	
              3

            	
              eBet
                has not been notified of the appointment of an independent valuer
                to value
                the Intellectual Property Rights comprised in the Charged Property,
                as
                required by clause 7.4;

            


    

     

    
      	
              4

            	
              eBet
                has not received confirmation from Octavian or the Software Escrow
                Agent
                that all Intellectual Property Rights deposited with the Software
                Escrow
                Agent in or about October, 2007 have been brought up to date as required
                by clause 7.5. In particular, we note
                that:

            


    

     

    
      	 	
              (a)

            	
              3-4
                Dream Games have now been approved by GLI for use in
                Europe;

            


    

     

    
      	 	
              (b)

            	
              the
                Maverick is currently with GLI in Adelaide for approval - expected
                at the
                end of February;

            


    

     

    
      	 	
              (c)

            	
              the
                Maverick has 1 Game as part of the above
                approval;

            


    

     

    
      	 	
              (d)

            	
              there
                is a new Rebel board as part of the above Maverick approval;
                and

            


    

     

    
      	 	
              (e)

            	
              MyACP
                has obtained GLI 13 certification for use in
                Europe;

            


    


    
      
         

      

      
        1

        
          

        

      

      
         

      

    

     

    
      	
              5

            	
              eBet
                has not received full and reasonable information in relation to the
                218
                Mavericks owned by eBet (which Octavian has placed into the Latin
                America
                market) as required by clause 7.6;

            


    

     

    
      	
              6

            	
              eBet
                has not received a price list for products in respect of its appointment
                as Octavian's distributor under clause
                7.7(a);

            


    

     

    
      	
              7

            	
              Octavian
                has not responded to eBet's draft distribution contract referred
                to in
                clause 7.7(b);

            


    

     

    
      	
              8

            	
              eBet
                has not been notified by Octavian as to when Octavian's approval
                as
                Logismos' distributor comes into effect;
                and

            


    

     

    
      	
              9

            	
              eBet
                has not received from Octavian a Project Status Report as required
                by
                clause 7.8.

            


    

     

    The
      Agreement is a Transaction Document, and we hereby advise that Octavian is
      in
      breach of clause 5.1(a) of the Charge, in that it has failed to perform its
      obligations under a Transaction Document.

     

    We
      hereby
      give you notice under clause 7.1(b) of the Charge that you are in breach of
      obligations under the Charge as specified above, and require rectification
      of
      all those breaches within 5 Business Days after the date of this notice, in
      accordance with clause 7.1(b).

     

    Failure
      to comply with this notice will result in the occurrence of an Event of Default
      for the purposes of the Charge, and the commencement of a Standstill
      Period.

     

    We
      also
      advise that under clause 4.1(e), payment of the Reconciliation Amount
      (US$173,722.53) and refinancing costs (A$158,641.59) are due no later than
      30
      days after 16 January, 2008 (ie. 15 February 2008), whether or not Octavian
      obtains financial accommodation of US$5m as referred to in clause
      3.1(b).

     

    Terms
      and
      expressions defined in the Agreement have the same meaning where used in this
      letter. References to clause numbers are to clause numbers in the Agreement,
      unless the context requires otherwise.

     

    In
      closing we believe that eBet has been very accommodating and cooperative towards
      Octavian's obligations and our rights under and in connection with the Loan
      Agreement, Deed of Charge, Side Letter and Deed of Agreement, and in assisting
      Octavian to complete the transaction with PacificNet. eBet therefore expects
      in
      return that Octavian diligently manages its obligations as a sign of good faith
      and reciprocity.

     

    Yours
      faithfully,

    EBET
      LIMITED

     

    TONY
      TOOHEY

    CEO
&
      Managing Director


    
      
         

      

      
        2