eBet
        Limited 

      Chargee

      


      and

      


      Octavian
        International Limited

      Chargor

      


      Deed
        of Release

      in
        respect of

      a
        Charge
        over Intellectual Property



      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      


      DEED
        OF RELEASE

      


      DATED  10th
        October, 2008

      


      
        	
                BY

              	
                eBet
                  Limited,
                  an company incorporated in the Commonwealth of Australia whose
                  company
                  number is ACN 056 210 778, with an office at Unit 13, 112-118 Talavera
                  Road, North Ryde, NSW 2113, Australia (the Chargee)

              


      

      


      
        	
                TO

              	
                Octavian
                  International Limited,
                  a
                  company incorporated in England and Wales whose company number
                  is 04185988
                  and whose registered office is at 51 Eastcheap, London EC3M 1JP
                  (the
                  Chargor)

              


      

      


      OPERATIVE
        PROVISIONS

       

      
        	
                1.

              	
                Interpretation

              


      

       

      In
        this
        deed:-

      


      Charged
        Property
        means
        the property and assets charged by the Chargor to the Chargee by the Security
        Document;

      


      Security
        Document
        means
        the security document described in the Schedule.


       

      
        	
                2.

              	
                Release

              


      

       

      By
        this
        deed, the Chargee (1) unconditionally and irrevocably releases the Charged
        Property from the charges, mortgages and other security interests created
        by the
        Security Document and (2) unconditionally and irrevocably releases and
        discharges the Chargor from its obligations to the Chargee under the Security
        Document.


       

      
        	
                3.

              	
                Undertaking

              


      

       

      The
        Chargee undertakes to execute any further documents or do anything reasonably
        required by the Chargor in order to comply with Clause 2 of this Deed, provided
        that all costs reasonably incurred in such compliance shall by reimbursed
        by the
        Chargor.


       

      
        	
                4.

              	
                Law

              


      

       

      This
        deed
        shall be governed by and construed in accordance with English
        law.


      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      


      In
        witness
        of which
        this document has been executed by the Chargee as a Deed
        and
delivered
        on the
        date set out at the beginning of this Deed.

       

      
        	
                Executed
                  as
                  a Deed
                  by

                eBet
                  Limited

                acting
                  by

              	
                 

                 

                and

                duly authorised

              	
                )

                )

                )

                )

              	
                 

                 

                 

              
	 	 	 	 
	 	 	 	 

                sign
                  here: /s/ Anthony Toohey

              
	 	 	 	
                Title:

                 

                print
                  name: Anthony Toohey

              
	 	 	 	
                 

                 

                sign
                  here: /s/ I R James

              
	 	 	 	
                Title:

                 

                print
                  name: Ian R. James

              


      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      


      SCHEDULE

      


      Security
        Documents

      


      
        	
                Name

              	
                Date

              	
                Parties

              
	 	 	 
	
                Deed
                  of Charge

              	
                15
                  August 2007

              	
                Octavian
                  International Limited

              
	 	 	
                eBet
                  Limited

              


      

      


      Ref:
        VCA/NCP/0803907/881758

       

      Beaufort
        House, Chertsey Street, Guildford, Surrey GU1 4HA; Tel: 01483 555 555; Fax:
        01483 567 330; DX: 2406 Guildford.