P.T.
        Jakarta Land

      


      TERMS
        OF LEASE OF

      METROPOLITAN
        COMPLEX

      JAKARTA

      (AUGUST
        2001 EDITION)

      


      These
        Terms shall be taken in conjunction with the Standard Conditions of Lease
        which
        jointly form the Lease Agreement but, in the event of conflict, these Terms
        shall take precedence.

       

      
        	
                1
                  .

              	
                Date
                  of Agreement

              	: 	
                15th
                  March 2005

              
	
                2.

              	
                Name
                  of Tenant

              	: 	
                INDOPACIFIC
                  RESOURCES JAVA LTD

              
	
                3.

              	
                Address

              	: 	
                World
                  Trade Center 14th
                  Floor

              
	
                 

              	 	 	
                 Jl.
                  Jend. Sudirman Kav. 29-31, Jakarta

              
	 	 	 	 
	
                 

              	 	 	
                Phone
                  : 521-1829

              


      

       

      
        	4. 	
                Description
                  of Leased Premises

              	 	 	 	 	 	 	 	 
	
                a.

              	
                Building
                  Name

              	 	
                :
                  

              	
                World
                  Trade Center

              	 	 	 	 	 
	
                b.

              	
                Floor
                  Level and Position

              	 	
                :

              	
                14

              	 	 	 	 	 
	
                c.

              	
                Net
                  Office Space

              	 	
                :
                  

              	 	 	 	
                280.84

              	
                Sqm

              	 
	
                d.

              	
                (i)

              	
                12.95
                  % of toilets and pantry 

              	 	
                (93.34

              	 	
                Sqm)

              	
                12.08

              	
                Sqm

              	 
	 	
                (ii)

              	
                12.95%
                  of corridor 

              	 	
                (177.90

              	 	
                Sqm)

              	
                23.03

              	
                Sqm

              	 
	 	 	 	 	 	 	 	 	 	 
	
                e.

              	
                Total
                  area rented

              	 	
                :

              	 	 	 	
                315.95

              	
                Sqm

              	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 


      

       

      
        
          	
                  5.

                	
                  Lease
                    Period :

                	 	
                   Thrity-six
                    (36)

                	 	 	 	
                  months

                	
                  months

                


        

         

        
          	 	
                  Commencement
                    Date : 

                	
                  17th
                    June 2005

                	
                  Expiry
                    Date:

                	
                  16th
                    June 2008

                	 	 


        

      

      


      
        	
                6.
                  

              	
                a.

              	
                Annual
                  Reserved Carparks

              	 	 	 	 	 	 
	 	 	
                Internal

              	
                Nos
                  x US$

              	
                1000

              	 	 	 	
                =US$

              
	 	 	
                External

              	
                Nos
                  x US$

              	
                500

              	 	 	 	
                =US$

              


      

      


      
        	 	
                b.
                  

              	
                Telephone
                  & Telex Line Deposits

              	 	 	 	 	 	 
	 	 	
                Telephones

              	
                13

              	
                Nos
                  x Rp

              	
                3.500.000,-

              	 	
                =
                  Rp

              	
                45.000.000,-

              
	 	 	
                Telexes

              	 	
                Nos
                  x Rp

              	
                4.500.000,-

              	 	
                =
                  Rp

              	 


      

      


      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

     

    

      
        	
                7.

              	Rent
                and Service Charge	 	 	 
	
              	a.	
                Rental
                  rate per sq. meter per month (US$)

              	
                :

              	
                7.50

              	 	 
	
              	
                b.

              	
                Rental
                  payable in advance (No. of months)

              	
                :

              	
                3

              	 	 
	
              	
                c.

              	
                Service
                  Charge per sq. meter per month (US$)

              	
                :
                  

              	
                7.25

              	 	 
	
              	
                d.

              	
                Service
                  Charge payable in advance (No. of months)

              	
                :

              	
                3

              	 	 
	
              	
                e.

              	
                Security
                  Deposit (US$)

              	
                :

              	
                12,085.09

              	 	 
	
              	
                f.

              	
                Rental
                  Review Date, if any

              	
                :

              	
                Nil

              	 	 
	
              	
                g.

              	
                Service
                  Charge Review Date

              	:	 	 	
                 

              


      

    

     

    
      
        	
                8.

              	Other
                Items of Agreement (if any)
	 	 
	 	
                The
                  following items have been agreed between Landlord
                  and Tenant
                  and shall supersede any other Terms and Conditions in this Lease
                  Agreement
                  but only in as much as they are inconsistent with such other Terms
                  and
                  Conditions.

              


      

       

      LANDLORD
        AND TENANT
        (as
        defined in the Conditions of Lease) agree to be bound by the aforesaid Terms,
        IN
        WITNESS WHEREOF
        they
        have set their hands on the day specified in Term 1 hereof.

       

      
        
          	
                  LANDLORD
(
                    PT.JAKARTA
                    LAND)

                	 	 	
                  TENANT
(
                    INDOPACIFIC
                    RESOURCES )
JAVA LTD

                
	 	 	 	 
	 	 	 	 
	/s/ PT
                  Jakarta Land
PT JAKARTA LAND	 	 	/s/ Dwi
                  Hendri Yunianto
DWI HENDRI YUNIANTO
	
                  

                	 	 	
                  

                
	Witness
                  for Landlord	 	 	Witness for Tenant
	 	 	 	 
	
                	 	 	 
	/s/ signed	 	 	/s/ Ruth Modder
	
                  

                   	 	 	
                  

                   
	 	 	 	RUTH
                  MODDER


        



       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      P.T.
        Jakarta Land

      8th
        Floor, Wisma Metropolitan I, Kav. 29. Jl. Jend. Sudirman, Jakarta
        12930

      Mailing
        Address: P.O. Box 8426/JKS, Jakarta 12084, Indonesia. Cable : JAKLAND
        Jakarta

      Phones
        : 5 2 5 4 7 3 7 (5 lines). 5 7 1 2 3 8 2 F a x : 5 2 0 7 5 8
        5

       

      ADDENDUM
        TO THE LEASE AGREEMENT

      between

      INDOPACIFIC
        RESOURCES JAVA LTD.

      and

      PT
        JAKARTA LAND

      dated

      15
        March 2005

       

      This
        Addendum should be read and interpreted in conjunction with the Metropolitan
        Complex Terms and Standard Conditions of Lease, August 2001 Edition. Where
        any
        conflict exists between this Addendum and the Terms and Standard Conditions
        of
        Lease, this Addendum shall take precedence.

       

      1
        . Clause
        15 (Page 8) - Renewal of the Lease

       

      


       

      The
        Landlord grants to the Tenant the right, at the Tenant’s option to extend this
        Agreement for an additional 2 (two) years under the following
        terms:

       

      Between
        6
        (six) and 3 (three) months prior to the expiry of the initial term, the Landlord
        will offer in writing to the Tenant, a rental rate for the Premises for a
        renewal of the Agreement for an additional 2 (two) years term. The new rental
        rate for the additional term will be at a market rental for similar a building
        in a similar location of a similar size and quality (the “Future Market
        Rental”). However, renovations and building upgrades of the Premises undertaken
        by the tenant shall not be factored into evaluation of the market rate. If
        there
        is a disagreement between the Tenant and the Landlord regarding the Future
        Market Rental therefore the Landlord has a right to appoint an independent
        appraiser company to appraise and determine such Future Market Rental and
        such
        appraiser quotation shall bind the Landlord and the Tenant. The cost for
        such
        appraiser shall be borne equally between the Landlord and the
        Tenant.

       

      


       

      


       

       

      P.T.
        Jakarta Land

       

      


      
 

       

      2. Clause
        30 (Page 14) - Assignment and Sublease

       

      The
        Tenant shall not assign, sub-lease or otherwise part with the possession
        of the
        leased premises or any part thereof, either by way of subletting, lending,
        sharing or other means whereby any person or persons not a party to the
        Agreement obtains the use or possession of the leased premises or any part
        thereof, irrespective of whether any rental or other consideration is given
        for
        such use or possession, without the prior written consent of the Landlord
        which
        such consent shall not be unreasonably withheld or delayed.

       

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      This
        Addendum dated 15th
        March
        2005.

       

      
        
          	LANDLORD	 	 	TENANT
	PT JAKARTA LAND	 	 	INDOPACIFIC RESOURCES JAVA LTD.
	 	 	 	 
	 	 	 	 
	/s/ PT
                  Jakarta Land
PT JAKARTA LAND	 	 	/s/ Dwi
                  Hendri Yunianto
DWI HENDRI YUNIANTO