Document:

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                                                                     Exhibit 4.4

                                                                  [LOGO] GILBERT
                                                                          TOBIN

                                                                         LAWYERS

                          BUSINESS PURCHASE
                          AGREEMENT

                          BUSINESS OF BALTIMORE
                          TECHNOLOGIES PTY
                          LIMITED AND BALTIMORE
                          CERTIFICATES AUSTRALIA
                          PTY LIMITED

                       BALTIMORE TECHNOLOGIES PTY LIMITED

                       BALTIMORE TECHNOLOGIES PLC

                       BALTIMORE CERTIFICATES AUSTRALIA
                       PTY LIMITED

                       SECURENET LIMITED

                     2 Park Street Sydney NSW 2000 Australia

                   email@gtlaw.com.au http://www.gtlaw.com.au

              Telephone + 61 2 9263 4000 Facsimile + 61 2 9263 4111

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CONTENTS

1.  DICTIONARY                                                                 1
2.  SALE AND PRICE                                                             2
3.  CONDITIONS PRECEDENT TO COMPLETION                                         3
4.  PERIOD BEFORE COMPLETION                                                   4
5.  ADJUSTMENT OF PURCHASE PRICE                                               8
6.  COMPLETION AND TERMINATION                                                10
7.  BUSINESS CONTRACTS                                                        13
8.  EMPLOYMENT AND SUPERANNUATION                                             19
9.  LOCAL INTELLECTUAL PROPERTY                                               21
10. CONDUCT AFTER COMPLETION                                                  22
11. WARRANTIES                                                                22
12. CONFIDENTIALITY                                                           23
13. COSTS AND EXPENSES                                                        23
14. GST AND TAX                                                               24
15. DISPUTE RESOLUTION                                                        25
16. GENERAL                                                                   26
17. SELLER GUARANTEE                                                          30
18. BUYER NOMINEE COMPANY AND GUARANTEE                                       30
SCHEDULE 1 - BUSINESS ASSETS AND EXCLUDED CONTRACTS AND ASSETS
SCHEDULE 2 - WARRANTIES
SCHEDULE 3 - ASSET LEASES
SCHEDULE 4 - CUSTOMER CONTRACTS
SCHEDULE 5 - OTHER CONTRACTS
SCHEDULE 6 - EMPLOYEES
ATTACHMENT A - ADJUSTMENT STATEMENT
ATTACHMENT B - DISTRIBUTION AGREEMENT
ATTACHMENT C - TRUSTED WORLD PARTNER AGREEMENT
ATTACHMENT D - DICTIONARY

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DATE   2 May 2002

PARTIES

1.   BALTIMORE TECHNOLOGIES PTY LIMITED ABN 31 003 823 461 of Level 4, Building
     C Citywest Office Park, 33 Saunders Street, Pyrmont, NSW 2009 (BT Pty Ltd);

2.   BALTIMORE CERTIFICATES AUSTRALIA PTY LIMITED ABN 44 075 878 867 of Level 4,
     Building C Citywest Office Park, 33 Saunders Street, Pyrmont, NSW 2009
     (CAPL);

each, a Seller, and together, the Sellers;

3.   BALTIMORE TECHNOLOGIES PLC (a company incorporated under the laws of
     England and Wales) of 1310 Waterside, Arlington Business Park, Theale,
     Reading, Berkshire, RG7 4SA, United Kingdom (BT plc); and

4.   SECURENET LIMITED ABN 74 073 665 175 of Level 18, 60 Albert Road, South
     Melbourne, VIC 3205 (the Buyer).

BACKGROUND

A.   The Business is carried on by the Sellers.

B.   The Buyer wishes to acquire as a going concern and continue the Business of
     the Sellers.

C.   BT Pty Ltd and CAPL have agreed to sell and transfer to the Buyer the
     Business Assets on the terms and conditions of this Agreement and the
     Related Agreements.

THE PARTIES AGREE

1.   DICTIONARY

The Dictionary in Attachment B:

(a)  defines some of the terms used in this Agreement; and

(b)  sets out the rules of interpretation which apply to this Agreement.

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2.   SALE AND PRICE

2.1  Sale of Business Assets

Subject to clause 3, the Sellers as legal and beneficial owners must sell the
Business Assets to the Buyer and the Buyer must buy them:

(a)  for the Purchase Price;

(b)  on the Completion Date; and

(c)  free of Security Interests or other rights or interests of third parties.

2.2  Purchase Price

Subject to adjustment in accordance with clauses 5.1 and 4.2(b)(ii), the
Purchase Price is AU$5,700,000 apportioned as follows:

(a)  AU$4,200,000, less any sum payable pursuant to clause 4.2(b)(ii), payable
     on the Completion Date;

(b)  the Adjustment Amount, payable in accordance with clauses 5.1 and 6.9; and

(c)  conditional on the receipt by SecureNet on or before 15 June 2003 of a
     valid order placed by the Commonwealth Bank of Australia for its CA
     business (CBA Order):

     (i)  AU$1,000,000 payable within 2 Business Days of SecureNet's receipt of
          such CBA Order; and

     (ii) AU$500,000 payable 90 calendar days after the payment to Baltimore
          under paragraph (i) above.

2.3  Allocation of Purchase Price

Between the date of this Agreement and the Completion Date, the parties will use
their reasonable efforts to agree on the allocation of the Purchase Price
between the Business Assets.

2.4  Title and Risk

Title to, possession of and risk in the Business Assets passes to the Buyer on
Completion.

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2.5  Going concern and GST

(a)  The parties agree that the sale of the Business conducted by the Sellers is
     the Supply of a Going Concern.

(b)  The Buyer represents and warrants that it is registered or required to be
     registered under the GST Law.

(c)  The Sellers must continue to conduct the Business as a going concern until
     Completion.

(d)  The parties enter into this Agreement on the basis that the sale of the
     Business as a Going Concern is GST-free.

(e)  If, for any reason, this sale is not accepted by the Commissioner of
     Taxation as GST-free or the Supply of a Going Concern:

     (i)  the Buyer must pay to the Sellers the amount of the GST within 14 days
          after the Commissioner confirms the Sellers' liability to GST in an
          assessment or correspondence; and

     (ii) the Sellers must give the Buyer a Tax Invoice in a form which complies
          with the GST Law, as a precondition to payment under paragraph (e)(i).

(f)  Clause 14 deals with the effect of GST on any other matters contemplated by
     this Agreement. If there is any inconsistency between this clause and
     clause 14, this clause prevails.

3.   CONDITIONS PRECEDENT TO COMPLETION

3.1  Conditions Precedent

The Buyer and the Sellers are only obliged to complete the sale and purchase of
the Business Assets in accordance with this Agreement if each Condition is
either satisfied or waived in full by the Benefiting Parties in accordance with
this clause 3.

3.2  Satisfaction of Conditions

(a)  reasonable endeavours: Each party must use their reasonable endeavours to
     satisfy the Conditions before the End Date.

(b)  notice: The Buyer and the Sellers must each promptly notify each other
     party in writing if it becomes aware that a Condition is satisfied or
     becomes incapable of being satisfied.

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(c)  waiver: A Condition may only be waived by the Benefiting Party(s) of that
     Condition. Such waiver must be in writing and is only effective to the
     extent specified in the waiver.

4.   PERIOD BEFORE COMPLETION

4.1  The Sellers shall procure between the date hereof and the Completion Date
     that unless the Buyer has given its prior consent or except as expressly
     required or permitted pursuant to this Agreement or pursuant to an
     Integration Committee minute approving such action:

(a)  unless the Buyer's representatives on the Integration Committee agree
     otherwise, the Business will be carried on in the ordinary and usual course
     which, for the avoidance of doubt, shall mean that the Business is
     conducted in substantially the same manner as it was in the six months
     immediately prior to the date of this Agreement;

(b)  unless the Buyer's representatives on the Integration Committee agree
     otherwise, no actions may be taken outside the ordinary and usual course of
     the Business without the prior written approval of the Integration
     Committee;

(c)  unless the Buyer's representatives on the Integration Committee agree
     otherwise, none of the following shall occur in respect of the Business:

     (i)  the purchase of or agreement to purchase any asset with a value of
          $10,000 or more or a commitment to purchase in any one year a number
          of assets or make a number of investments with an aggregate book value
          of $20,000 or more;

     (ii) the sale of or agreement to sell any asset with a value of $10,000 or
          more or a commitment to sell in any one year a number of assets with
          an aggregate book value of $20,000 or more;

     (iii) the entering into, variation or termination of any contract of
          employment or services with any person or entity (except the
          termination of any contract of employment at the request of the
          employee or with an Excluded Person);

     (iv) the issue of any letter of demand or the commencement of any
          proceeding to recover any debt of $20,000 or more from any customer or
          client of the Business;

     (v)  the Sellers entering into, amending or terminating any long term
          contract or a contract with a value (taking account of gross payments
          or receipts over the life of the contract) of $200,000 or more; or

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     (vi) the commencement by the Sellers of any new business other than the
          Business.

4.2  Pyrmont Property Lease

(a)  BT Pty Ltd undertakes that it will, in conjunction with the Buyer, use all
     reasonable endeavours from the date of this Agreement to achieve an
     assignment to the Buyer of BT Pty Ltd's interest in the Pyrmont Property
     Lease (in respect of Level 4 and half of Level 3 only) on terms equal to
     the Buyer paying AU$264,506 per annum with a yearly increase of the higher
     of 4% or CPI, exclusive of outgoings and payments under the Car Park
     Licence. If it becomes apparent to the Parties that despite their
     reasonable efforts the landlord under the Pyrmont Property Lease (Landlord)
     is not prepared to consent to an assignment of the Pyrmont Property Lease,
     then in any such case BT Pty Ltd and the Buyer will use all reasonable
     endeavours to achieve a sub-letting to the Buyer on terms substantially
     equivalent to BT Pty Ltd's Pyrmont Property Lease of BT Pty Ltd's interest
     in the Pyrmont Property Lease (in respect of Level 4 and half of Level 3
     only).

(b)  BT Pty Ltd acknowledges that its reasonable efforts for the purposes of
     this clause 4.2 include the following:

     (i)  in the case of an assignment: BT Pty Ltd undertaking to the Landlord
          to place in escrow on the granting of the licence to assign, a sum
          equivalent to the Net Present Value of the amounts payable under the
          Pyrmont Property Lease for the period from Completion until 31
          December 2006, less an amount equal to AU$264,506 per annum with a
          yearly increase of the higher of 4% or CPI, exclusive of outgoings and
          payments under the Car Park Licence; or

     (ii) in the case of a sub-letting to the Buyer: BT Pty Ltd giving to the
          Buyer a sum worked out by multiplying $38,113 per month by the number
          of months from the Completion Date to 31 December 2006 (for example,
          assuming Completion on 31 May 2002, such sum would be $2,096,240).

4.3  Access to information

The Sellers must:

(a)  allow the Buyer and its agents, representatives and advisers reasonable
     access to the Property, the Business Assets, the books and records
     (including to take copies of such material) and the Employees of the
     Sellers upon reasonable prior notice; and

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(b)  ensure the Buyer is kept promptly informed of all material matters relating
     to the businesses, assets and affairs of the Sellers and further that the
     Buyer receives a copy of all board papers, management reports and accounts,
     and Integration Committee minutes as soon as practicable but no later than
     such time when they are received by the Sellers.

4.4  Integration Committee

The Buyer and BT Pty Ltd shall each appoint in writing 3 representatives to an
Integration Committee for the purpose of monitoring and advising on the
operation of the Business by the Sellers prior to the Completion Date and the
performance of the Buyer and the Sellers of their respective obligations
pursuant to this Agreement. In the event of deadlock of any meeting of the
Integration Committee, the parties agree that Bijan Khezri shall have the final
and casting vote.

4.5  The Buyer's Conduct

Unless BT Pty Ltd agree otherwise in writing, prior to Completion the Buyer must
not do anything, fail to do anything, or allow anything to happen which would
make a Buyer Warranty false or misleading in a material respect. During the
period from signing this Agreement until Completion, the Buyer must not do
anything which would make a Seller Warranty false or misleading in a material
respect, provided that this provision will not restrict the Buyer from operating
the Buyer's own business on a normal commercial basis.

4.6  HIC Agreement

(a)  BT Pty Ltd will use reasonable endeavours:

     (i)  to remedy to HIC's satisfaction defects or deficiencies alleged by HIC
          in products or services supplied by BT Pty Ltd to the Health Insurance
          Commission (HIC) pursuant to the agreement between HIC and BT Pty Ltd
          dated 1 February 2000 (the HIC Agreement); and

     (ii) to secure consent by HIC to assignment of the HIC Agreement from BT
          Pty Ltd to the Buyer with effect on and from Completion, but varied in
          accordance with the draft letter from Rory Brennan of BT Pty Ltd to
          Kathy Kirby of HIC which is Attachment J to the "Disclosure Bundle"
          attached to the Disclosure Letter (Agreed HIC Amendments), or
          substantially similar terms or as otherwise agreed by the parties.

(b)  Not less than five (5) days prior to Completion the Buyer will advise the
     Sellers whether the Buyer nominates the HIC Agreement as an Excluded
     Contract. If the Buyer does not so nominate, the HIC Agreement will be a
     Customer Contract and governed as such by other provisions of this
     Agreement. If the Buyer does so nominate:

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     (i)  the HIC Agreement will be an Excluded Contract as though included in
          Part 2 of Schedule 1 and governed as such by other provisions of this
          agreement which relate to Excluded Contracts;

     (ii) BT Pty Ltd must and, subject to paragraph (iii), will require Buyer
          to, and Buyer will, provide professional services at the same rates as
          are payable by HIC to BT Pty Ltd under the HIC Agreement, to
          facilitate BT Pty Ltd to provide support services to HIC as required
          under the HIC Agreement and otherwise as reasonably required to enable
          BT Pty Ltd to fulfil its ongoing support obligations to HIC (other
          than Level 3 support) subsequent to Completion on the same terms as
          apply generally to provision of professional services by the Buyer to
          BT plc;

     (iii) if the Buyer does not provide professional services as referred to in
          paragraph (ii) in accordance with the terms as apply generally to
          provision of professional services by the Buyer to BT plc and
          otherwise as reasonably required to enable BT Pty Ltd to fulfil its
          ongoing support obligations to HIC (other than Level 3 support)
          subsequent to Completion and the Buyer does not remedy that deficiency
          within 10 days from the date of any notice from BT Pty Ltd to the
          Buyer specifying that deficiency, then notwithstanding clause 2.1 of
          the Distribution Agreement and without affecting BT Pty Ltd's other
          rights and remedies, BT Pty Ltd will be entitled to itself provide or
          to purchase support services from another provider in order to fulfil
          BT Pty Ltd's obligations under the HIC Agreement.

(c)  If at any time subsequent to Completion BT Pty Ltd is able to:

     (i)  remedy to HIC's satisfaction defects or deficiencies alleged by HIC in
          products or services supplied by BT Pty Ltd to HIC pursuant to the HIC
          Agreement; and

     (ii) secure consent by HIC to assignment of the HIC Agreement from BT Pty
          Ltd to the Buyer varied in accordance with the Agreed HIC Amendments
          or substantially similar terms or as otherwise agreed by the parties,

     BT Pty Ltd must notify the Buyer, providing reasonable evidence of
     fulfilment of (i) and (ii) above. If BT Pty Ltd is able to do so, the Buyer
     will consent to an assignment of the HIC Agreement subject to the Agreed
     HIC Amendments, and the provisions of clause 7 of this Agreement will
     operate as and from the date that this assignment takes effect, amended
     however such that where provisions of clause 7 refer to Completion and the
     Completion Date, those references will be read as references to the
     assignment pursuant to this provision and the date that that assignment
     takes effect.

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(d)  At any time subsequent to Completion and notwithstanding that BT Pty Ltd is
     not able to fulfil the conditions stated in (i) and (ii) of paragraph (c)
     above, the Buyer may, at Buyer's election exercised on not less than 20
     Business Days prior notice, require BT Pty Ltd to assign the HIC Agreement,
     on reasonable terms and subject to such assignment being in accordance with
     provisions of the HIC Agreement, in which event the provisions of clause 7
     of this Agreement will operate as and from the date that this assignment
     takes effect, amended however such that where provisions of clause 7 refer
     to Completion and the Completion Date, those references will be read as
     references to the assignment pursuant to this provision and the date that
     that assignment takes effect.

(e)  The provisions of this clause 4.6 survive Completion of this Agreement and
     will continue for such period as is required to give effect to these
     provisions in accordance with their tenor.

5.   ADJUSTMENT OF PURCHASE PRICE

5.1  Adjustment of Purchase Price

(a)  The parties acknowledge that the Purchase Price will be adjusted on the
     Adjustment Date, but calculated as at the Completion Date, for:

     (i)  Seller Accruals, Unlicensed Software Cost, Employee Entitlements
          relating to the Transferring Persons and Deferred Revenue, by way of
          reductions in the Purchase Price; and

     (ii) Work in Progress and Seller Prepayments, by way of increases in the
          Purchase Price,

     in accordance with an Adjustment Statement in the form set out in
     Attachment A, the contents of which are to be agreed between the Sellers
     and the Buyer. The net adjustment amount (Adjustment Amount) determined in
     accordance with the Adjustment Statement will be an amount payable by the
     Sellers to the Buyer, or by the Buyer to the Sellers, as the case may be.
     The Adjustment Amount must be paid in accordance with clause 6.9 on the
     Adjustment Date.

(b)  During the Adjustment Period, the Buyer and the Sellers shall use all
     reasonable efforts to agree the Adjustment Statement determined as at the
     Completion Date.

(c)  The calculation of the Adjustment Statement is to be in accordance with
     Accounting Standards.

(d)  During the Adjustment Period, the Sellers and the Buyer must provide to
     each other full access to the working papers and source documents used in

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     preparing the calculation of the Adjustment Statement at the Completion
     Date.

(e)  If the Buyer and the Sellers do not agree on a value or a particular item
     in the calculation of the Adjustment Statement upon the expiry of the
     Adjustment Period, the value or particular item is to be determined by an
     Independent Expert in accordance with clause 5.2.

(f)  For the purpose of calculating any increase to the Purchase Price under
     clause 5.1(a), the Work in Progress shall be calculated on a GST exclusive
     basis and Seller Prepayments shall be reduced by the amount of any Input
     Tax Credits for which the Seller is entitled in respect of those Seller
     Prepayments.

5.2  Independent Expert

(a)  valuation: If a matter is referred to the Independent Expert under clause
     5.1, the parties must immediately upon the expiry of the Adjustment Period
     instruct the Independent Expert to complete the relevant determination as
     soon as possible and no later than 28 days following the expiry of the
     Adjustment Period.

(b)  access and submissions: Each party:

     (i)  must provide the Independent Expert with full access to its books and
          records and information required by the Independent Expert to complete
          a valuation or make a determination under this clause; and

     (ii) is entitled to make submissions to the Independent Expert about a
          valuation or determination to be completed or made under this clause.

(c)  final and binding: The Independent Expert's written determination or
     valuation of a matter referred to it under this Agreement is final and
     binding and, where applicable, must be promptly incorporated in the
     Adjustment Statement.

(d)  expert: The Independent Expert acts as an expert, not as an arbitrator.

(e)  costs: The Independent Expert shall determine who should bear his costs.

5.3  Receivables

(a)  Effective from Completion, each Seller shall appoint the Buyer its agent
     for the purpose of collecting the Receivables and giving directions to
     debtors to pay the Receivables to the Buyer.

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(b)  The Sellers must provide to the Buyer at Completion a list of the
     Receivables as at Completion setting out for each debtor:

     (i)  the name;

     (ii) the address;

     (iii) the amount owing; and

     (iv) the due date for payment of the debt.

(c)  The Buyer, as each Seller's agent, must:

     (i)  for the period of 90 days following Completion, seek payment of the
          Receivables in accordance with generally accepted commercial
          practices; and

     (ii) account to the Sellers, on the last day of each thirty day period
          after the Completion Date for all amounts received by the Buyer for
          Receivables with a right of set-off of such amounts against any
          Adjustment Amount payable pursuant to clause 6.9.

(d)  At the end of the period of 90 days following Completion, Buyer's
     appointment as the agent of each Seller shall terminate and the Sellers
     shall re-assume responsibility for the collection of any Receivables which
     have not been paid at that date. Any amounts received by the Sellers in
     accordance with this paragraph (d) shall be retained by the Sellers in full
     for their own account.

(e)  Nothing in this clause 5.3 obliges the Buyer to take action to recover any
     Receivable by way of recovery or enforcement proceedings.

(f)  During the 90 day period following Completion, the Sellers shall not take
     any action to recover any Receivable.

6.   COMPLETION AND TERMINATION

6.1  Date for Completion

Subject to clause 3.1 (Conditions Precedent), Completion must take place at the
office of the Sellers' solicitors, Gilbert + Tobin Lawyers of Level 37, 2 Park
Street Sydney, on 31 May 2002 and in any event, no later than the End Date or
such other date as the parties may agree in writing.

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6.2  Delivery of Related Agreements by BT Pty Ltd

At Completion, BT Pty Ltd must give to the Buyer:

(a)  each of the Related Agreements executed by; and

(b)  board minutes authorising the entry into such Related Agreement by,

BT Pty Ltd and/or the affiliates of BT Pty Ltd (as the case may be).

6.3  Delivery of Business Records

At Completion, the Sellers must give to the Buyer:

(a)  business records: full and complete Business Records (and copies of the
     Excluded Records except where delivery of such copies would breach legal
     professional privilege or where such Excluded Records are solely those
     referred to in paragraph (c) of the definition of such term) which relate
     to the Business Assets existing as at the Completion Date; including all
     documentary evidence reasonably required to evidence ownership of the
     Business Assets; and

(b)  invoices: copies of the invoices for the Receivables and the Seller
     Accruals.

6.4  Delivery and Possession of the Business Assets

Subject to the Buyer's compliance with clauses 6.6 and 6.8 and to the provisions
of clause 7, at Completion, the Sellers must give the Buyer full and
unrestricted possession of all the Business Assets, excluding the Excluded
Contracts and Excluded Assets including duly executed transfers required to vest
any Business Assets in the Buyer.

6.5  Meeting

On or before Completion, each Seller must ensure that:

(a)  a meeting of its shareholders is convened to change the name of the Seller
     to a name which does not include the word "Baltimore"; and

(b)  the relevant documentation necessary to notify the relevant Government
     Agency(s) of such change of name is delivered to the Buyer for lodgement.

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6.6  Change of company names

The Sellers shall use their reasonable efforts to procure that the names of
Baltimore Technologies (Asia Pacific) Pty Limited ACN 099 244 149 and Baltimore
Technologies (Holdings) Pty Ltd ACN 099 243 544 are changed to names which do
not include the word "Baltimore" and that the relevant documentation necessary
to notify the relevant Government Agency(s) of such change of name is lodged.

6.7  The Buyer's Obligations on Completion

On Completion and if the Sellers have complied with clauses 6.2, 6.3 and 6.4,
the Buyer must deliver to BT Pty Ltd counterparts executed by the Buyer of each
of the Related Agreements.

6.8  Simultaneous Actions at Completion

In respect of Completion:

(a)  the obligations of the parties under this agreement are independent; and

(b)  all actions required to be performed will be taken to have occurred
     simultaneously on the Completion Date.

6.9  Payment of Adjustment Amount

On the Adjustment Date the party which is required to pay the Adjustment Amount
must pay such Adjustment Amount to the other party.

6.10 Termination

(a)  A party may terminate this agreement by giving notice in writing to the
     other parties at any time before Completion if that party has not breached
     clause 3.2 and:

     (i)  a Condition is incapable of fulfilment and the Benefiting Party has
          advised in writing that it will not waive the Condition; or

     (ii) each Condition is not satisfied, or waived in full by each Benefiting
          Party before 5.00 pm on the End Date.

(b)  On termination of this Agreement under paragraph (a) above, no party has
     any further obligations and is released from further performing its
     obligations under this Agreement except under:

     (i)  clause 13 (Confidentiality);

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     (ii) clause 14 (Costs);

     (iii) clause 17 (General); and

     (iv) a right, remedy or claim which accrued before termination.

(c)  Subject to paragraph (b) above, no party will have any liability whatsoever
     to the other parties for any costs, expenses, losses or other damages of
     any kind (including third party claims against the other parties) incurred
     by the other parties for the termination of this Agreement under this
     clause.

7.   BUSINESS CONTRACTS

7.1  Assumption of obligations under Business Contracts

Subject to the Distribution Agreement and Completion, and with effect from the
Completion Date, the Buyer hereby:

(a)  assumes all performance obligations of the Sellers and BT plc under the
     Business Contracts including, without limitation any obligation under the
     Customer Contracts to:

     (i)  provide customer support;

     (ii) remedy defects occurring after the Completion Date; and

     (iii) supply services which the Sellers and BT plc undertook to perform
          prior to the Completion Date (excluding such Support Services as the
          Sellers and BT plc have undertaken to provide under the Distribution
          Agreement subsequent to the Completion Date);

(b)  assumes all liability under any Business Contract;

(c)  undertakes to the Sellers and BT plc to carry out, perform and complete all
     the obligations and liabilities created by or arising under the Business
     Contracts; and

(d)  the obligations and liabilities of the Buyer pursuant to paragraphs (a),
     (b) and (c) above do not apply to obligations and liabilities attributable
     to and arising out of a breach of a provision or warranty of a Business
     Contract by the Sellers or BT plc prior to the Completion Date.

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7.2  Entitlement of benefits under Business Contracts

(a)  Subject to paragraph (b), at Completion, the Buyer will become entitled to
     the benefits under those Business Contracts which remain to be satisfied
     subsequent to the Completion Date.

(b)  Benefits granted pursuant to paragraph (a) do not include any insurance
     policies, insurance claims and repayments arising prior to the Completion
     Date in relation to the Business.

7.3  Indemnity and no liability

(a)  Indemnity: The Buyer must indemnify the Sellers and BT plc and keep each of
     them fully indemnified against all Liabilities brought or made against or
     incurred by any of the Sellers or BT plc:

     (i)  in respect of non-performance or defective or negligent performance by
          the Buyer of the Business Contracts or otherwise arising out of the
          Business Contracts after Completion; and

     (ii) in relation to the Buyer's assumptions of the obligations,
          liabilities, guarantees and warranties in relation to the Business
          Contracts under clause 7.1,

     except to the extent such Liability arises due to the negligence, fraud,
     dishonesty or wilful act or omission of any of the Sellers, BT plc, or its
     or their Related Bodies Corporate.

(b)  Indemnity: The Sellers and BT plc must indemnify the Buyer and keep it
     fully indemnified against all Liabilities (whenever occurring, provided
     that the event which gives rise to any such Liability occurs on or before
     Completion) that are brought or made against or incurred by the Buyer in
     respect of the Business Contracts except to the extent such Liability
     arises due to the negligence, fraud, dishonesty or wilful act or omission
     of the Buyer or its Related Bodies Corporate.

(c)  No Liability: The Buyer will hold each of the Sellers and BT plc free from
     any Liability arising from:

     (i)  breach of a Business Contract relating to failure to obtain or
          formalise consent of the assignment or novation of that contract or
          otherwise; or

     (ii) relocation or disruption to the Buyer's business or any other
          consequence suffered by the Buyer if the Buyer has to give up
          possession of an Asset Lease.

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7.4  Release of Guarantees

(a)  From the Completion Date and except to the extent provided under this
     Agreement, the Buyer must use its reasonable endeavours to secure the
     release or discharge of each Seller Group Guarantee, including, without
     limitation, by providing or obtaining such reasonable Guarantees, support
     or information as is reasonably required by any third party whose agreement
     is required for the release of the Seller Group Guarantee. For the purposes
     of clarity, in the case of the guarantee listed in item (a) of Schedule 8
     (Seller Group Guarantees), the obligations on the Buyer to use reasonable
     endeavours to secure the release or discharge of that guarantee will not
     require the Buyer to offer or provide any form of substitute guarantee in
     favour of the Health Insurance Commission.

(b)  Except to the extent provided under this Agreement, the Buyer must
     indemnify the Sellers or BT plc and keep the Sellers or BT plc, as the case
     may be, fully indemnified against all Liabilities brought or made against
     or incurred by the Sellers or BT plc, as the case may be, in relation to
     the Seller Group Guarantees, to the extent that these arise from the
     performance of any obligation under the Business Contracts, or any acts or
     omissions of the Buyer, subsequent to the Completion Date.

(c)  Except to the extent provided under this Agreement, the Sellers or BT plc,
     as the case may be, must indemnify the Buyer and keep the Buyer fully
     indemnified against all Liabilities brought or made against or incurred by
     the Buyer in relation to the Seller Group Guarantee, to the extent that
     these arise from any obligation under the Business Contracts, or any acts
     or omissions of either the Sellers or BT plc, prior to the Completion Date.

(d)  The Sellers will cause the Unconditional Financial Undertaking provided by
     the Australia and New Zealand Banking Group Limited Number 09300/2059 dated
     28 March 2000 to remain in place until expiry of that undertaking on 31
     March 2003 or its earlier expiry in accordance with paragraph 2 of its
     provisions. If there is a claim by the Health Insurance Commission on that
     undertaking pursuant to the provisions of the HIC Agreement, the provisions
     of clauses 7.1 to 7.3 above will operate as between the Sellers and the
     Buyer to determine the allocation of liability as between the Sellers and
     the Buyer.

7.5  Transfer of Business Contracts capable of assignment without consent

With effect from Completion, the Sellers each assign to the Buyer all of the
interest of the Sellers arising under the Business Contracts that do not require
the agreement, consent or approval of a third party in order for the assignment
to be effective at law or in equity.

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7.6  Novation or Assignment of Business Contracts with consent

(a)  The Sellers and the Buyer must use reasonable endeavours to novate, assign
     (where novation is not possible) or subcontract (where novation or
     assignment is not possible), with effect from the Completion Date from the
     Sellers to the order of the Buyer, all the Business Contracts:

     (i)  which are capable of novation, assignment or subcontracting with the
          consent of a third party(s) to those contracts; and

     (ii) on terms which, taken as a whole including any terms relating to the
          novation or assignment, are no less favourable than the terms of the
          relevant Business Contract, unless otherwise agreed.

(b)  The Sellers and the Buyer must comply with paragraph (a) from the date of
     this Agreement until all such Business Contracts are novated, assigned or
     subcontracted.

7.7  Business Contracts held on trust

Without prejudice to clause 7.1, and unless and until the Business Contracts can
be assigned, novated or subcontracted in accordance with this clause 7:

(a)  the Sellers shall hold such Business Contracts in trust for the Buyer from
     the Completion Date;

(b)  the Sellers shall do all things reasonably necessary to enable the Buyer to
     enjoy the full benefit of such Business Contracts;

(c)  the Buyer shall, as the Sellers' sub-contractor or agent, perform all the
     obligations of the Sellers under such Business Contracts in accordance with
     this clause 7; and

(d)  the Sellers shall allow the Buyer to use property the subject of an Asset
     Lease, as licensee from Completion until the transfer of the Asset Lease is
     completed.

7.8  Assistance

Unless and until any Business Contracts are novated, assigned or subcontracted
under this Agreement, the Sellers will as directed by the Buyer and at the
Buyer's cost:

(a)  enforce the Sellers' rights under such Business Contract against any other
     party to the Business Contract;

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(b)  provide access to all relevant books, documents and other information in
     relation to such Business Contract as the Buyer may reasonably require from
     time to time.

(c)  do anything else reasonably requested by the Buyer to give the Buyer the
     full benefit of such Business Contract.

7.9  Payments made in respect of Business Contracts

If any payment is made to the Sellers in respect of the Business Contracts,
other than in payment of a Receivable, after the Completion Date, the Sellers
shall receive the same as trustee for the Buyer, and shall account to the Buyer
for the same within 14 days of receipt.

7.10 Ongoing responsibilities

(a)  All income, profits and benefits of the Business:

     (i)  up to the Completion Date, belong to the Sellers; and

     (ii) after the Completion Date, belong to the Buyer.

(b)  Except as provided elsewhere in this Agreement, all liabilities of the
     Business including, without limitation, all expenses, rates, water rates,
     insurance premiums, telephone, electricity and gas charges and other
     outgoings:

     (i)  up to the Completion Date are the responsibility of the Sellers; and

     (ii) after the Completion Date, are the responsibility of the Buyer,

     unless liability specifically relates to an Excluded Contract or Excluded
     Asset in which case the liability is the responsibility of the Sellers.

(c)  The Sellers shall indemnify and keep fully indemnified the Buyer from any
     claims brought or made against or incurred by the Buyer in relation to the
     liabilities of the Business referred to in paragraph (b) (other than
     liability specifically relating to an Excluded Contract or Excluded Asset)
     above up to the Completion Date, and the Buyer shall indemnify and keep
     fully indemnified the Sellers from any claims brought or made against or
     incurred by the Sellers in relation to the liabilities of the Business
     referred to in paragraph (b) above after the Completion Date.

                                    Page 17

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7.11 Circular

Subject to the prior consent of BT Pty Ltd, the Buyer may on or at any time on
or before Completion and at the Buyer's expense, send a circular:

(a)  in a form agreed upon by BT Pty Ltd;

(b)  to persons who have had dealings with the Sellers in connection with the
     Business; and

(c)  announcing the transfer, subject to Completion, to the Buyer of the
     Business.

7.12 Access to Business Records

The Buyer must retain all the Business Records delivered by the Sellers to the
Buyer at the Completion Date for 7 years and promptly make available to the
Sellers, in a timely and diligent manner, such personnel, information,
documentation, records and files which are reasonably required by the Sellers
for any purpose relating to:

(a)  the affairs of the Business as operated by the Sellers prior to the
     Completion Date;

(b)  any claim against or proceeding involving the Sellers; or

(c)  the completion of the Sellers' tax return or the Sellers' other Tax
     obligations, whether they arise after or prior to the Completion Date,

save to the extent access would breach legal professional privilege or any
confidentiality agreement, in which case the Buyer must use best endeavours to
provide the relevant access.

7.13 Access to Excluded Business Records

The Sellers must retain (in Sydney) all the Excluded Business Records for 7
years and promptly make available to the Buyer, in a timely and diligent manner,
such personnel, information, documentation, records and files which are
reasonably required by the Buyer for any purpose relating to:

(a)  the affairs of the Business as operated by the Buyer after the Completion
     Date;

(b)  any claim against or proceeding involving the Buyer; or

(c)  the completion of the Buyer's Tax return and the Buyer's other Tax
     obligations, whether they arise after or prior to the Completion Date,

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save to the extent that such provision would breach legal professional privilege
or any confidentiality agreement, in which case the Sellers must use best
endeavours to provide the relevant access.

7.14 Access by BT Pty Ltd

The Buyer grants a licence for 4 months from the Completion Date to BT Pty Ltd
and up to 2 of its employees to use and access any of the Business Assets
without charge and on the same terms that the Buyer and the Transferring Persons
use the Business Assets, provided that such use is reasonably necessary for the
continuation of BT Pty Ltd's operations in Australia after Completion and that
such use is in accordance with this Agreement and the terms of the Distribution
Agreement.

7.15 Information Technology Transition Plan

Prior to Completion, the parties will work together in good faith to develop an
agreed Information Technology Transition Plan and after the Completion Date, the
Parties will use their reasonable endeavours to ensure the implementation of
that plan.

8.   EMPLOYMENT AND SUPERANNUATION

8.1  Offer

(a)  conditional offer: Within ten Business Days after the execution of this
     Agreement or as otherwise agreed, the Buyer must offer in writing (on terms
     which have been approved in writing by BT Pty Ltd) to employ each Employee
     or contract with each Contractor, conditional on Completion occurring and
     effective from the Completion Date, on terms which are substantially
     similar to the terms offered by BT Pty Ltd to that Employee or that
     Contractor as at the date of this Agreement (Offer).

(b)  acceptance: The Offer must require an Employee or Contractor to advise the
     Buyer or BT Pty Ltd of the Employee's or Contractor's acceptance within 5
     Business Days of the date of the Offer.

(c)  advice of acceptance or non-acceptance: If an Employee or Contractor
     advises a party that the Employee or Contractor accepts or does not accept
     the Offer, then the notified party must immediately notify the other party
     accordingly.

(d)  reasonable assistance: BT Pty Ltd must use reasonable endeavours to
     encourage the Employees and Contractors to accept the Offer.

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8.2  Payment of Employee Entitlements

(a)  BT Pty Ltd will be responsible for Employee Entitlements and Redundancy
     Payouts for the Excluded Persons.

(b)  The Buyer will be responsible for payment of all Employee Entitlements
     accruing:

     (i)  prior to the Completion Date, subject to paragraph (e), for all the
          Transferring Persons; and

     (ii) after the Completion Date for all the Transferring Persons.

(c)  The parties note that Employee Entitlements of the Transferring Persons
     accruing prior to the Completion Date will be adjusted in the Adjustment
     Statement in accordance with clause 5.1(a) and paragraph (e) below.

(d)  Any Redundancy Payouts of Employees subsequent to the date of this
     Agreement will be payable by Buyer. The Sellers will reasonably co-operate
     with the Buyer in good faith to mitigate the amount of any Redundancy
     Payouts to Employees payable by the Buyer.

(e)  Upon Completion, BT Pty Ltd shall payout in cash any annual leave
     entitlement of any Transferring Person exceeding 10 days.

(f)  Upon Completion, BT Pty Ltd shall payout in cash to each Employee any
     accrued bonus or commission or profit-sharing entitlement, and any
     commission entitlement that has accrued as at Completion but for payment by
     a customer to BT Pty Ltd.

8.3  Termination and Release

BT Pty Ltd must release all Employees from employment and all Contractors from
the terms of their contracts of engagement with BT Pty Ltd, with effect on the
Completion Date.

8.4  Superannuation

(a)  With effect from the Completion Date, the Buyer must ensure that the
     trustee of the Industry Fund is notified that each Transferring Person who
     is a member of the Industry Fund at the Completion Date has become employed
     by the Buyer. BT Pty Ltd must use its reasonable endeavours to procure that
     the trustee of the Industry Fund agrees to the Buyer becoming a
     participating employee in the Industry Fund.

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(b)  On or before Completion, BT Pty Ltd must pay the applicable contributions
     to the Industry Fund in respect of each Transferring Person.

8.5  Indemnity

Effective from the Completion Date, the Buyer must indemnify and keep the
Sellers indemnified against any liability to:

(a)  any Transferring Person for any Employee Entitlements, whether the
     entitlements accrued prior to or after the Completion Date, except for any
     annual leave entitlements which are the responsibility of BT Pty Ltd
     pursuant to clause 8.2(e);

(b)  any Employee for any Redundancy Payouts; and

(c)  any Contractor, other than any Excluded Person, for any claim for breach of
     the terms of their contract of engagement as a result of the Sellers'
     complying with their obligations pursuant to clause 8.3.

8.6  Bonus entitlements and share options

The parties acknowledge that the Buyer shall have no liability for the payment
to Transferring Persons of any bonus payments under BT Pty Ltd's bonus incentive
scheme, any compensation arising from the loss of such Transferring Persons'
entitlements under BT plc's share option plan or for any other payments other
than as specifically set out in Schedule 6.

9.   LOCAL INTELLECTUAL PROPERTY

9.1  Subject to clause 9.2 and effective from the Completion Date, the Sellers
     assign the Local Intellectual Property to the Buyer.

9.2  The Buyer hereby grants to each of the Sellers, BT plc and its and their
     Related Bodies Corporate a perpetual, irrevocable, transferable,
     royalty-free licence to use or otherwise exploit in any way the Local
     Intellectual Property anywhere outside ANZ (as that term is defined in the
     Distribution Agreement) and, to the extent that it is necessary for the
     Sellers or their Related Bodies Corporate to service customers not being
     transferred to the Buyer hereunder, inside ANZ.

9.3  For the avoidance of doubt, no warranty is given by the Sellers as to the
     ownership of the Local Intellectual Property.

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10.  CONDUCT AFTER COMPLETION

Subject to clause 9, the Distribution Agreement and the Trusted World Partner
Agreement will govern the conduct of the parties from the Completion Date in
relation to the Intellectual Property of the Sellers, BT plc and Baltimore
Ireland and the carrying on of the Business while using that Intellectual
Property.

11.  WARRANTIES

11.1 Giving of Warranties by the Warrantors

(a)  The Warrantors jointly and severally represent and warrant to the Buyer
     that each of the Seller Warranties is true and correct:

     (i)  as at the date of this Agreement;

     (ii) on each day up to Completion; and

     (iii) as at Completion,

     subject to any facts adequately disclosed in the Disclosure Letter.

(b)  Subject to clause 11.3, the Warrantors jointly and severally acknowledge
     that the Buyer has entered into this Agreement in reliance on the Seller
     Warranties.

(c)  Each Seller Warranty must be construed independently and is not limited by
     reference to another Seller Warranty.

(d)  The Seller Warranties survive Completion.

11.2 Limitation on claims

The total liability of the Warrantors for breach of any Seller Warranty or for
or in relation to any fact, matter or circumstance within the subject matter of
a Seller Warranty, whether such claim is based on principles of contract or tort
law or under any statute, under clause 11.1 is limited as follows:

(a)  period: the Buyer may only make a claim for breach of a Seller Warranty
     (Claim) if it has given written notice to the Sellers of the general nature
     of the Claim on or before 30 September 2003;

(b)  minimum claim: the Buyer must not make a Claim unless the Claim or a series
     of like Claims have a value in excess of $20,000;

                                    Page 22

<PAGE>

(c)  minimum amount: the Buyer must not make a Claim until the total of its
     Claims exceeds $100,000, in which case the Buyer may claim the whole amount
     and not just the excess; and

(d)  maximum amount: the maximum total amount which the Buyer may recover from
     the Warrantors for all Claims (excluding interest and the costs and
     expenses of making Claims) is $3,000,000.

11.3 Effect of Prior Knowledge

The Buyer acknowledges that it shall have no right to damages or compensation
arising in consequence of any breach of any of the Seller Warranties where the
Buyer actually knew of the breach prior to the Completion Date. The parties
acknowledge that the Buyer has conducted its own investigations into the
Business and the Business Assets prior to the Completion Date.

11.4 Effect of Fraud etc

Clauses 11.2 and 11.3 shall not apply to limit a claim by the Buyer for breach
of a Seller Warranty where such claim arises from the fraud, dishonesty or
wilful misrepresentation of a Warrantor.

12.  CONFIDENTIALITY

Subject to the provisions of the Distribution Agreement concerning confidential
information, a party may not disclose the provisions of this Agreement, any
information obtained by such party as a result of participation in the
Integration Committee or the Sellers' provision of Business Records or copies of
Excluded Records pursuant to clause 6.3, or the terms of sale of the Business
Assets to any person except:

(a)  after obtaining the written consent of the other parties;

(b)  to its officers, employees, professional advisers, financiers, insurance
     brokers and potential professional investors in the Buyer; or

(c)  as required by an applicable law,

and must use its best endeavours to ensure all permitted disclosures are kept
confidential.

13.  COSTS AND EXPENSES

13.1 Each party must pay its own costs and expenses of negotiating, preparing,
     signing, delivering and registering this Agreement and any other agreement
     or document entered into or signed under this Agreement.

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13.2 A party must bear the costs and expenses of performing its obligations
     under this Agreement, unless otherwise provided in this Agreement or a
     Related Agreement.

14.  GST AND TAX

14.1 Consideration exclusive of GST

(a)  Any consideration or payment obligation in this Agreement is exclusive of
     GST unless stated otherwise.

(b)  Subject to clause 2.4, if a Supply made under or in connection with this
     Agreement is a Taxable Supply, the recipient of that Supply (Recipient)
     must pay to the party that made that Supply (Supplier) an amount equal to
     the GST payable on that Supply unless the amount payable for that Supply is
     expressly stated to be inclusive of GST.

(c)  Subject to clause 14.2, unless otherwise agreed by the parties, the
     additional amount under paragraph (b) is payable at the same time and in
     the same manner as the consideration for the Supply to which the additional
     amount relates.

14.2 Tax Invoice

A party which receives consideration, whether monetary or otherwise, for a
Taxable Supply under this Agreement, must give the other party a Tax Invoice in
a form which complies with the GST Law within 10 Business Days after the end of
the month in which any consideration is paid, or an invoice issued, in relation
to the Supply, whichever occurs first.

14.3 Payments

Unless otherwise stated in this Agreement, the following principles apply when
determining the amount of a payment under this Agreement:

(a)  if a party is entitled under this Agreement to be reimbursed or indemnified
     by another party for an expense, claim, loss, liability or cost incurred in
     connection with this Agreement, the reimbursement or indemnity payment must
     not include any GST component of the expense, claim, loss, liability or
     cost for which an Input Tax Credit may be claimed; and

(b)  if a party sets off an amount under this Agreement, the same principles
     apply to calculate the amount to be set-off as if the amount had been paid
     in accordance with paragraph (a).

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14.4 Adjustment Event

If an Adjustment Event occurs, the parties must do all things necessary to make
sure that the Adjustment Event may be properly accounted for, including the
issue of an Adjustment Note.

14.5 Tax

The Buyer must pay any stamp duty which arises from the execution, delivery and
performance of this Agreement and each agreement or document entered into or
signed under or for the purposes of the performance of this Agreement.

15.  DISPUTE RESOLUTION

15.1 Dispute not to affect performance of duties

Subject to any contrary provision in this Agreement the parties will not be
relieved from performing their obligations under this Agreement because of the
existence of any dispute.

15.2 Dispute resolution process

(a)  Any dispute or difference which arises between parties in respect of any
     aspect of this Agreement, except in relation to clause 5.1, (Dispute) must
     be dealt with in accordance with this clause 15.

(b)  Each party may refer a Dispute or difference to each party's managing
     director for resolution by serving notice in writing upon the other party
     to the Dispute.

(c)  If the managing directors of each party to the Dispute are unable to
     resolve the Dispute or difference within 21 days of its referral (or such
     longer period agreed between the parties to the Dispute), the Dispute must
     be dealt with in accordance with clause 15.3.

15.3 Dispute

(a)  In respect of a Dispute referred by clause 15.2, the Dispute must be
     referred for mediation administered by the Australian Commercial Disputes
     Centre (ACDC).

(b)  If the matter is referred for mediation under paragraph (a):

     (i)  the mediator shall be the person agreed by the parties from a list of
          names provided by the ACDC;

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     (ii) failing agreement within 5 Business Days, the mediator shall be a
          person appointed by the ACDC; and

     (iii) the mediation shall be conducted in accordance with the ACDC
          arbitration rules and the laws of the State of New South Wales.

(c)  If the parties to the Dispute cannot resolve the Dispute within 60 days of
     the matter being referred to mediation, a party may withdraw from the
     mediation by notice in writing and this clause 15 will not longer apply in
     respect of that Dispute.

16.  GENERAL

16.1 Notices

(a)  A notice or other communication given under this Agreement including, but
     not limited to, a request, demand, consent or approval, to or by a party to
     this Agreement:

     (i)  must be in legible writing and in English;

     (ii) must be addressed to the addressee at the address or facsimile number
          set out below or to any other address or facsimile number a party
          notifies to the other party under this clause 16:

          A.   if to the Sellers or BT plc:

               Address:     1310 Waterside, Arlington Business Park,
                            Theale Reading, Berkshire, RG7 4SA, United
                            Kingdom
               Attention:   Simon Enoch
               Facsimile:   +44 (0) 118 903 9000; and

          B.   if to the Buyer:

               Address:     Level 18, 60 Albert Road, South Melbourne,
                            VIC 3205
               Attention:   The Company Secretary
               Facsimile:   +61 3 8696 9479

     (iii) must be signed by an Officer or under the common seal of a sender
          which is a company; and

     (iv) is deemed to be received by the addressee in accordance with paragraph
          (b).

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(b)  Without limiting any other means by which a party may be able to prove that
     a notice has been received by another party, a notice is deemed to be
     received:

     (i)  if sent by hand, when delivered to the addressee;

     (ii) if by post, 7 Business Days from and including the date of postage; or

     (iii) if by facsimile transmission, on receipt by the sender of an
          acknowledgment or transmission report generated by the machine from
          which the facsimile was sent,

     but if the delivery or receipt is on a day which is not a Business Day or
     is after 4.00 pm (addressee's time) it is deemed to be received at 9.00 am
     on the following Business Day.

(c)  A facsimile transmission is regarded as legible unless the addressee
     telephones the sender within 2 hours after the transmission is received or
     regarded as received under paragraph (b)(iii) and informs the sender that
     it is not legible.

(d)  In this clause 16, a reference to an addressee includes a reference to an
     addressee's Officers, agents or employees.

16.2 Governing law

The laws of New South Wales govern this Agreement.

16.3 Jurisdiction

Each party irrevocably and unconditionally submits to the non-exclusive
jurisdiction of the courts of New South Wales.

16.4 Invalidity

(a)  If a provision of this Agreement or a right or remedy of a party under this
     Agreement is invalid or unenforceable in a particular jurisdiction in which
     this Agreement is being enforced or operates:

     (i)  it is read down or severed in that jurisdiction only to the extent of
          the invalidity or unenforceability; and

     (ii) it does not affect the validity or enforceability of that provision in
          another jurisdiction or the remaining provisions in any jurisdiction.

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(b)  This clause is not limited by any other provision of this Agreement in
     relation to severability, prohibition or enforceability.

16.5 Amendments and Waivers

(a)  This Agreement may be amended only by a written document signed by the
     parties.

(b)  A waiver of a provision of this Agreement or a right or remedy arising
     under this Agreement, including this clause, must be in writing and signed
     by the party granting the waiver.

(c)  A single or partial exercise of a right does not preclude a further
     exercise of that right or the exercise of another right.

(d)  Failure by a party to exercise a right or delay in exercising that right
     does not prevent its exercise or operate as a waiver.

16.6 Cumulative rights

The rights and remedies of a party under this Agreement do not exclude any other
right or remedy provided by law.

16.7 Non-merger

No provision of this Agreement, including the Seller Warranties and the Buyer
Warranties, merges on Completion.

16.8 Continuing indemnities and survival of indemnities

(a)  Each indemnity contained in this Agreement is a continuing obligation
     despite a settlement of account or the occurrence of an Insolvency Event or
     any other thing, and remains fully effective until all money owing,
     contingently or otherwise, under the indemnity has been paid in full.

(b)  Each indemnity contained in this Agreement:

     (i)  is an additional, separate and independent obligation and no one
          indemnity limits the generality of another indemnity; and

     (ii) survives the termination of this Agreement.

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16.9 Payments

A payment which is required to be made under this Agreement must be in cash or
by bank cheque or in other immediately available funds and in Australian
dollars.

16.10 Further assurances

After Completion each party must provide (and cause its personnel to provide) to
the other party and its Related Bodies Corporate such assistance as may be
reasonably required by the other party and its Related Bodies Corporate in
relation to perfecting the sale and purchase contemplated under this Agreement
and the Related Agreements.

16.11 Specific performance

Each party acknowledges that monetary damages alone would not be adequate
compensation to the other party for the first party's breach of its obligations
under this Agreement and that specific performance of those obligations is an
appropriate remedy.

16.12 Entire agreement

(a)  This Agreement supersedes all previous agreements about its subject matter
     and embodies the entire agreement between the parties.

(b)  The Buyer acknowledges that no representations or warranties in connection
     with the sale of the Business or the Business Assets have been made by
     either of the Sellers or BT plc or anyone on behalf of a Seller other than
     the Seller Warranties.

(c)  The Sellers acknowledge that no representations or warranties in connection
     with the sale of the Business or the Business Assets have been made by the
     Buyer or anyone on behalf of the Buyer other than the Buyer Warranties.

16.13 Third party rights

Only the parties to this Agreement have or are intended to have a right or
remedy under this Agreement or obtain a benefit under it.

16.14 Legal Advice

Each party acknowledges that it has received legal advice about this Agreement.

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16.15 No Assignment

Except as provided for under this Agreement or a Related Agreement, a party may
not assign this Agreement or otherwise transfer the benefit of this Agreement or
a right or remedy under it, without first obtaining the written consent of the
other parties.

16.16 Counterparts

This Agreement may be signed in any number of counterparts and all those
counterparts together make one instrument.

17.  SELLER GUARANTEE

17.1 BT plc guarantee

In consideration of the Buyer agreeing to enter into this Agreement with the
Sellers, BT plc hereby guarantees the due and punctual performance of the duties
and obligations on the part of the Sellers of all and any of the provisions of
this Agreement, and BT plc shall, upon receipt of fourteen (14) days' written
notice from the Buyer, rectify and make good any default by the Sellers in the
performance or observance of any of the provisions of this Agreement, unless the
Sellers are relieved from such performance or observance by another provision of
this Agreement or, subject clause 17.2(b), by a court of competent jurisdiction
or otherwise by law.

17.2 Continuing guarantee

(a)  The guarantee set out in clause 17.1 shall continue and BT plc shall not be
     discharged or released from such guarantee, notwithstanding any indulgence
     or compromise granted by the Buyer to the Sellers or forbearance on the
     part of the Buyer towards the Sellers, whether as to payment, time,
     performance or otherwise, or in the event of the insolvency or dissolution
     of the Sellers.

(b)  If any payment or the satisfaction of any duty or obligation by the Sellers
     under this agreement is void, voidable, or unenforceable or is claimed by
     Buyer on a reasonable basis to be so, whether due to the insolvency of a
     Seller or otherwise, then BT plc agrees to make such payment or perform or
     observe such duty or obligation and the guarantee in clause 17.1 shall
     continue to apply in respect of the same.

18.  BUYER NOMINEE COMPANY AND GUARANTEE

18.1 Appointment by Buyer of Nominee to Nominated Business Assets

(a)  The Buyer may by notice to the Sellers given not later than two Business
     Days prior to Completion nominate another corporation or corporations
     (Nominated RBC), as specified in the notice, as the purchaser of any of the
     Business Assets

                                    Page 30

<PAGE>

     as specified in the notice (Specified Business Assets). If the Buyer gives
     such a notice and this Agreement proceeds to Completion, on Completion the
     Sellers will transfer the Specified Business Assets to the Nominated RBC in
     accordance with the notice, and otherwise in all respects in accordance
     with and subject to the provisions of this Agreement.

(b)  The Nominated RBC must be a Related Body Corporate of the Buyer in which
     the Buyer holds more than 50 per cent of the issued share capital or in
     relation to which the Buyer has the ability to exercise effective
     managerial control through the right to appoint a majority of the Board of
     Directors of that entity.

18.2 Buyer guarantee

In consideration of the Sellers agreeing to enter into this Agreement in terms
which permit the Buyer to nominate a Nominated RBC in accordance with clause
18.1 above, the Buyer hereby guarantees the due and punctual performance of the
duties and obligations on the part of each Nominated RBC of all and any of the
provisions of this Agreement, and the Buyer shall, upon receipt of fourteen (14)
days' written notice from the Sellers, rectify and make good any default by any
Nominated RBC in the performance or observance of any of the provisions of this
Agreement, unless the Buyer is relieved from such performance or observance by
another provision of this Agreement or, subject to clause 18.3(b), by a court of
competent jurisdiction or otherwise by law.

18.3 Continuing guarantee

(a)  The guarantee set out in clause 18.2 shall continue and the Buyer shall not
     be discharged or released from such guarantee, notwithstanding any
     indulgence or compromise granted by the Sellers to the Nominated RBC or
     forbearance on the part of the Sellers towards any Nominated RBC, whether
     as to payment, time, performance or otherwise, or in the event of the
     insolvency or dissolution of any Nominated RBC.

(b)  If any payment or the satisfaction of any duty or obligation by any
     Nominated RBC under this agreement is void, voidable, or unenforceable or
     is claimed by either Seller on a reasonable basis to be so, whether due to
     the insolvency of a Nominated RBC or otherwise, then the Buyer agrees to
     make such payment or perform or observe such duty or obligation and the
     guarantee in clause 18.2 shall continue to apply in respect of the same.

                                    Page 31

<PAGE>

                                   SCHEDULE 1

BUSINESS ASSETS AND EXCLUDED CONTRACTS AND EXCLUDED ASSETS (Clause 2.1)

PART 1 - BUSINESS ASSETS

The Business Assets less the Excluded Contracts and Excluded Assets.

PART 2 - EXCLUDED CONTRACTS AND EXCLUDED ASSETS

Excluded Contracts and Excluded Assets are:

(a)  all leases of real property under which BT Pty Ltd is the lessee except the
     Artarmon Property Lease;

(b)  cash, including, but not limited to, funds held with a bank or financial
     institution to the credit of a Seller and cash on hand as at the Completion
     Date;

(c)  non-disclosure agreements;

(d)  Customer Contracts which have been fully performed and where no further
     services are to be supplied under such Contracts;

(e)  the Seller Group Guarantees;

(f)  the Unconditional Financial Undertaking provided by the Australia and New
     Zealand Banking Group Limited Number 09300/2059 dated 28 March 2000;

(g)  the Intellectual Property (excluding the Local Intellectual Property and
     the domain name www.secdom.com.au);

(h)  the Receivables;

(i)  all assets located in the Singapore and Hong Kong offices of BT Pty Ltd;

(j)  all contracts of insurance;

(k)  the ANZ and Baltimore Technologies Pty variation of bank facilities as
     accepted on 23 November 2001;

(l)  certain computer hardware (comprised of 4 Cisco units and 1 Ravlin unit)
     which is used globally by Baltimore outside of ANZ;

                                     Page 1

<PAGE>

(m)  Signage Agreement between Citicap Pty Ltd and Baltimore Technologies Pty
     Ltd dated 8 February 2001; and

(n)  if the Purchaser does not occupy the Property after Completion, the Car
     Parking Licence.

                                     Page 2

<PAGE>

                                   SCHEDULE 2

                             WARRANTIES (Clause 11)

PART 1: SELLER WARRANTIES

1.   AUTHORITY

1.1  Status: Each Seller and BT plc is a corporation with limited liability and
     it is properly incorporated or taken to be incorporated or registered and
     validly existing under the Corporations Act or, in the case of BT plc, the
     applicable legislation in the place of incorporation.

1.2  Authority: Each Seller and BT plc has taken all necessary action it can
     take within its control to authorise the signing, delivery and performance
     of this Agreement and the documents required under this Agreement in
     accordance with their respective terms.

1.3  Power to sell: Each Seller and BT plc has power to enter into and perform
     its obligations under this Agreement and can do so without the consent of
     any other person (except for consents required under the Business
     Contracts).

1.4  No breach: The signing and delivery of this Agreement and the performance
     by each Seller and BT plc of its obligations under it complies with:

     (a)  each applicable law and Authorisation;

     (b)  any orders, judgments or decree of any court or Government Agency
          binding the Seller and BT plc;

     (c)  the Seller's and BT plc's constitution;

     (d)  a Security Interest or other document or agreement binding on the
          Seller and BT plc.

1.5  Binding obligations: This agreement and all other agreements contemplated
     by this Agreement will, when executed by each Seller and BT plc, constitute
     binding obligations of the Seller and BT plc in accordance with their
     respective terms.

1.6  Winding up: No:

     (a)  meeting has been convened, resolution proposed, petition presented or
          order made for the winding up of either of the Sellers or BT plc;

                               Schedule 2, page 1

<PAGE>

     (b)  receiver, receiver and manager, provisional liquidator, liquidator or
          other officer of the Court has been appointed in relation to all or
          any material asset of either of the Sellers or BT plc; or

     (c)  mortgagee or chargee has taken, attempted or indicated an intention to
          exercise its rights under any security of which either of the Sellers
          or BT plc is the mortgagor or chargor.

1.7  Insolvency: Each Seller and BT plc:

     (a)  is not insolvent within the meaning of section 95A of the Corporations
          Act 2001 (Cth);

     (b)  has not stopped paying its debts as and when they fall due; and

     (c)  is not subject to administration or similar status under Part 5.3A of
          the Corporations Act 2001 (Cth) or similar legislation.

2.   TITLE

2.1  Ownership: Subject to the terms of the Business Contracts, either BT Pty
     Ltd or CAPL is the legal and beneficial owner of the Business Assets
     (excluding the Asset Leases, the Local Intellectual Property, the Pyrmont
     Property Lease and the Artarmon Property Lease).

2.2  Business Assets: Subject to the terms of the Business Contracts, the
     Business Assets, excluding the Asset Leases, the Local Intellectual
     Property, the Pyrmont Property Lease and the Artarmon Property Lease, are:

     (a)  fully paid for;

     (b)  in the Sellers' possession; and

     (c)  used for the purposes of the Business and utilised in the Business.

2.3  Asset Leases: The Asset Leases, are:

     (a)  paid in accordance with their terms;

     (b)  in the Sellers' possession; and

     (c)  used for the purposes of the Business and utilised in the Business.

2.4  Security Interests: no Business Asset is subject to any Security Interest.

                               Schedule 2, page 2

<PAGE>

2.5  Compliance with law: The Sellers' conduct of the Business and ownership and
     use of the Business Assets complies, and has complied with, all applicable
     laws and Authorisations.

2.6  Authorisations: Each Seller has and had all applicable Authorisations to
     conduct the Business and use the Business Assets and all such Authorisation
     are valid and the Sellers have not received any notice that any
     Authorisation may or will be revoked suspended, modified or not renewed.

3.   ACCURACY OF INFORMATION

3.1  Information: The information given to the Buyer or its advisers by or on
     behalf of each Seller or its advisers about the sale of the Business,
     including the information in the Schedules and in the Disclosure Letter,
     is:

     (a)  true in all respects; and

     (b)  comprises all information which would be material to a buyer for value
          of the Business and the Business Assets.

4.   PYRMONT PROPERTY LEASE

4.1  Occupation: Subject to the terms of the Pyrmont Property Lease, BT Pty Ltd
     has exclusive occupation and quiet enjoyment of the Property.

4.2  Title: BT Pty Ltd has provided the Buyer with all documents constituting
     the Pyrmont Property Lease or true copies of those documents.

4.3  No breach: BT Pty Ltd is not in material breach of the Pyrmont Property
     Lease.

4.4  No notices: BT Pty Ltd has not received any material outstanding notices or
     orders from the lessor of the property or a Government Agency:

     (a)  for the compulsory acquisition or resumption of any part of the
          Property; or

     (b)  which may materially adversely affect the Property or the use of it by
          BT Pty Ltd.

5.   BUSINESS CONTRACTS

5.1  Nature: The Business Contracts are:

     (a)  on arm's length terms; and

                               Schedule 2, page 3

<PAGE>

     (b)  within the ordinary course of the Business.

5.2  Disclosure:

     (a)  All contracts material to the operation of the Business have been
          disclosed to the Buyer.

     (b)  The Sellers have disclosed to the Buyer all material agreements, side
          agreements, side letters or other arrangements of legal force or
          effect in relation to a Business Contract made between a Seller and
          any other party to a Business Contract.

5.3  Binding and enforceable: So far as each Seller is aware each of the
     Business Contracts is valid, binding and enforceable against the parties to
     it.

5.4  No material breaches: So far as each Seller is aware, there are no material
     breaches of any Business Contract.

6.   EMPLOYEES

6.1  List of Employees: Schedule 6 comprises a complete list of the Employees
     and Contractors of BT Pty Ltd employed in the Business as at the date of
     this Agreement and their respective entitlements as at that date to wages,
     salaries, annual leave and leave loading, long service leave, sick leave
     and superannuation, excluding entitlements under:

     (a)  BT Pty Ltd's bonus incentive scheme; and

     (b)  BT plc's share option plan.

6.2  Disputes: The Sellers have not been involved in any material industrial
     dispute with an Employee at any time within the period of 12 months before
     the date of this Agreement and the Sellers do not know of any circumstances
     likely to give rise to any material industrial dispute.

6.3  Compliance: The Sellers comply and have complied with their obligations
     under each agreement, statute law, industrial award, enterprise agreement,
     or code of conduct relating to the Employees in all material respects.

6.4  Employee records: BT Pty Ltd has kept adequate and suitable records
     regarding the Employee Entitlements of each Transferring Person and such
     records are contained in the Business Records.

                               Schedule 2, page 4

<PAGE>

6.5  No other terms: No person listed in Schedule 6 is entitled to receive any
     payment or other material benefit associated with their employment, except
     as disclosed in Schedule 6.

7.   SUPERANNUATION

7.1  Contributions: As at the Completion Date, BT Pty Ltd has made all
     superannuation contributions as required by law and the contracts of
     employment for each Transferring Person, and no amount is due or payable by
     BT Pty Ltd to the Industry Fund or any other superannuation fund in respect
     of any Transferring Person.

8.   LITIGATION

8.1  No current or pending litigation: So far as the Sellers are aware, there is
     no current, pending or threatened investigation, prosecution, litigation,
     arbitration or similar proceedings which would have a material adverse
     effect on the Business, the Business Assets or the Property.

9.   RECORDS

9.1  Possession : The Business Records are in the possession or under the
     control of the Sellers at the Property.

9.2  True: The Business Records are true and accurate in all material respects.

9.3  Material: The originals or copies of all Business Records which might
     reasonably be expected to be material to a prudent intending purchaser of
     the Business and which ought to be in the possession of the Sellers are in
     their possession or under their control and will be delivered to the Buyer
     at Completion.

10.  INTELLECTUAL PROPERTY

10.1 Rights to Use: The Intellectual Property (excluding Local Intellectual
     Property) of the Sellers, BT plc and Baltimore Ireland which is used by the
     Business will be:

(a)  the subject of the Distribution Agreement; or

(b)  the subject of the Trusted World Partner Agreement.

10.2 Valid software licences: As at the Completion Date the software necessary
     for the operation of the Business is validly licensed and will be
     transferred to the Buyer, other than software applications currently made
     available through or resident on the Baltimore global intranet.

                               Schedule 2, page 5

<PAGE>

10.3 Third Party infringement: So far as the Sellers are aware, the Intellectual
     Property (excluding Local Intellectual Property) created or owned by the
     Sellers, BT plc and Baltimore Ireland which is used by the Business does
     not infringe the intellectual property rights of third parties.

11.  COMPUTER SYSTEMS AND SOFTWARE

11.1 Computers: The computers and computer systems owned or used by the Sellers
     for the Business:

(a)  are in operating order and are fulfilling the purposes for which they were
     acquired or established;

(b)  have adequate capacity for the Business's needs as at Completion;

(c)  are properly documented so as to enable them to be used and operated by
     appropriately qualified personnel; and

(d)  are owned and under the sole control of the Sellers.

12.  SELLERS' KNOWLEDGE AND AWARENESS

For the purpose of the Seller Warranties, references to the knowledge or
awareness of a Seller means the knowledge of that Seller, after having made
reasonable enquiries of the following persons:

(a)  Bijan Khezri;

(b)  Simon Enoch;

(c)  Gavin Egan;

(d)  John Palfreyman;

(e)  Louise Olle;

(f)  Rory Brennan; and

(g) Mark Bower.

                               Schedule 2, page 6

<PAGE>

PART 2: BUYER WARRANTIES

1.   AUTHORITY

(a)  Status: The Buyer is a corporation with limited liability and is properly
     incorporated or taken to be incorporated or registered and validly existing
     under the Corporations Act.

(b)  Authority: The Buyer has taken all necessary action it can take within its
     control to authorise the signing, delivery and performance of this
     Agreement and the documents required under this Agreement in accordance
     with their respective terms.

(c)  Power to Buy: The Buyer has power to enter into and perform its obligations
     under this Agreement and can do so without the consent of any other person
     (except for consents required under the Business Contracts).

(d)  No Breach: The signing and delivery of this Agreement and the performance
     by the Buyer of its obligations under this Agreement complies with:

     (i)  each applicable law and Authorisation;

     (ii) any orders, judgments or decree of any court or Government Agency
          binding the Buyer;

     (iii) the constitution of the Buyer; and

     (iv) a Security Interest or other document or agreement binding on the
          Buyer.

                               Schedule 2, page 7

<PAGE>

                                   SCHEDULE 3

                              PART 1: ASSET LEASES

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------------

                                                                          Lease        Lease          Lease        Currency
---------------------------------------------------------------------------------------------------------------------------
           Lessor                       Description                       Start       Finish          Amount
---------------------------------------------------------------------------------------------------------------------------
<S>   <C>                  <C>                                          <C>          <C>         <C>         <C>     <C>
1.    Masterlease          Hewlett Packard Server & Access.             26-May-97    26/05/99     6,166.03   Adv     AUD
---------------------------------------------------------------------------------------------------------------------------
2.    Masterlease          7 Harris PCs , monitors, 16 CD Drives        15-Sept-97   15-Sep-00   20,141.00   Adv     AUD
---------------------------------------------------------------------------------------------------------------------------
3.    Masterlease          Photocopier - Xerox 1321                     13-Apr-98    13-Apr-02   13,248.00   Adv     AUD
---------------------------------------------------------------------------------------------------------------------------
4.    Masterlease          14 MC Economizer Desks. 12 Returns           18-May-98    18-May-02    6,646.00   Adv     AUD
---------------------------------------------------------------------------------------------------------------------------
5.    Masterlease          6 Gateway GP6 -233 PCs                       08-Jan-88    08-Jan-01   16,423.74   Adv     AUD
---------------------------------------------------------------------------------------------------------------------------
6.    Macquarie Bank (1)   2 Gateway ALR Fileservers, 1 Gateway ALR     10-Dec-98    28-Dec-02   80,992.00   Adv     AUD
                           7000 Fileserver, 3 Solo Notebooks, 1
                           Gateway GP6-PCs & Assoc equip
---------------------------------------------------------------------------------------------------------------------------
7.    Macquarie Bank (1)   7 5100 Solo Notebooks, 6 gateway GP6-333     10-Dec-98    28-Mar-02   46,698.00   Adv     AUD
                           PCs & Assoc Equip, 2 Solo 5100 Notebooks,
                           4 Gateway GP6-350 PCs & Assoc Equip
---------------------------------------------------------------------------------------------------------------------------
8.    Macquarie Bank (1)   2 Solo 5150 laptops, 8 Gateway GP6-333 PCs   10-Dec-98    15-Oct-01   31,132.00   Adv     AUD
---------------------------------------------------------------------------------------------------------------------------
9.    Macquarie Bank (1)   12 Gateway GP6-300 PCs, Full Towers &        10-Dec-98    09-Dec-01   58,716.00   Adv     AUD
                           Assoc Equip, 3 Solo 5100 LS Notebook
                           14.1 XGA laptops
---------------------------------------------------------------------------------------------------------------------------
10.   Macquarie Bank (1)   5 Cisco Routers & assoc. equipment,          04-Dec-98    04-Dec-01   80,977.00   Adv     AUD
                           cabling, from Smartsource Solutions
---------------------------------------------------------------------------------------------------------------------------
11.   Macquarie Bank (1)   Centari Systems, Cammeray:  HP Net Server    04-Dec-98    04-Dec-01   34,735.00   Adv     AUD
                           LC 3 P11400 1 HS, HP Kayak XA-s PII/400
                           Dual Processor
---------------------------------------------------------------------------------------------------------------------------
12.   Macquarie Bank (1)   Sale Leaseback: 12 Gateway GP6-350 PCs       04-Dec-98    04-Dec-01   42,786.00   Adv     AUD
                           and associated Equipment
---------------------------------------------------------------------------------------------------------------------------
13.   Masterlease          1 Quicker Boardroom Table 3250*1650,         20-Nov-98    19-Nov-01    9,851.00   Adv     AUD
                           American Cherry, Workstation, Executive
                           Chairs, Budget Upright Workstat, Key
                           Cabinet
---------------------------------------------------------------------------------------------------------------------------
14.   Masterlease          5 GP6-350 PII-350 PCs and 4 Solo PII-300     13-Aug-99    12-Aug-02   37,161.00   Adv     AUD
                           Laptops,
---------------------------------------------------------------------------------------------------------------------------
15.   Xerox Finance        Photocopier - Xerox L6 James PI              03-Feb-99    03-Feb-03   18,576.00   Adv     AUD
---------------------------------------------------------------------------------------------------------------------------
16.   Xerox Finance        Photocopier - West st                        03-Feb-99    03-Feb-03   21,888.00   Adv     AUD
---------------------------------------------------------------------------------------------------------------------------
17.   Xerox Finance        Photocopier - Canberra                       15-Mar-99    15-Mar-03    8,112.00   Adv     AUD
---------------------------------------------------------------------------------------------------------------------------
18.   MasterLease          GP7-500 PIII-500 Video Conferencing          17-Jul-99    16-Jul-02    5,712.00   Adv     AUD
                           Equipment
---------------------------------------------------------------------------------------------------------------------------

<CAPTION>
--------------------------------------------------------------------------------------------------------------------------------
                                                                        Number of          Total        Payable    Payable later
                            Payment                                  Payments to make      Future      less than   than 1 less
                           Frequency   Total No.   Reg.    Rental    at Reporting Date   Commitments    1 Year     than 2 Years
--------------------------------------------------------------------------------------------------------------------------------
           Lessor                         Pay      Cost         Payments: AUD                      Company Currency
--------------------------------------------------------------------------------------------------------------------------------
<S>   <C>                      <C>        <C>       <C>   <C>             <C>             <C>          <C>            <C>
1.    Masterlease              M           0        n/a     293.71           --
--------------------------------------------------------------------------------------------------------------------------------
2.    Masterlease              M           0        n/a     663.19           --                  --           --
--------------------------------------------------------------------------------------------------------------------------------
3.    Masterlease              M          48        n/a     276.00         4.00            1,104.00     1,104.00
--------------------------------------------------------------------------------------------------------------------------------
4.    Masterlease              M          48        n/a     190.62         5.00              953.10       953.10          --
--------------------------------------------------------------------------------------------------------------------------------
5.    Masterlease              M          36        n/a     548.60           --                  --           --          --
--------------------------------------------------------------------------------------------------------------------------------
6.    Macquarie Bank (1)       Q          12        n/a   7,408.28           --                  --           --          --

--------------------------------------------------------------------------------------------------------------------------------
7.    Macquarie Bank (1)       Q          12        n/a   4,271.23           --                  --           --          --

--------------------------------------------------------------------------------------------------------------------------------
8.    Macquarie Bank (1)       Q          12        n/a   2,847.62           --                  --           --          --
--------------------------------------------------------------------------------------------------------------------------------
9.    Macquarie Bank (1)       Q          12        n/a   5,368.52           --                  --           --          --

--------------------------------------------------------------------------------------------------------------------------------
10.   Macquarie Bank (1)       Q          12        n/a   8,063.59           --                  --           --          --

--------------------------------------------------------------------------------------------------------------------------------
11.   Macquarie Bank (1)       Q          12        n/a   2,658.86           --                  --           --

--------------------------------------------------------------------------------------------------------------------------------
12.   Macquarie Bank (1)       Q          12        n/a   4,125.76           --                  --           --

--------------------------------------------------------------------------------------------------------------------------------
13.   Masterlease              M          36        n/a     246.00           --                  --           --          --

--------------------------------------------------------------------------------------------------------------------------------
14.   Masterlease              M          36        n/a   1,496.28         9.00           13,466.52    13,466.52

--------------------------------------------------------------------------------------------------------------------------------
15.   Xerox Finance            M          48        n/a     387.00        14.00             5,418.0     4,644.00      774.00
--------------------------------------------------------------------------------------------------------------------------------
16.   Xerox Finance            M          48        n/a     456.00        14.00            6,384.00     5,472.00      912.00
--------------------------------------------------------------------------------------------------------------------------------
17.   Xerox Finance            M          48        n/a     169.00        16.00            2,704.00     2,028.00      676.00
--------------------------------------------------------------------------------------------------------------------------------
18.   MasterLease              M          36        n/a     249.38         4.00              997.52       997.52

--------------------------------------------------------------------------------------------------------------------------------
</TABLE>

                               Schedule 3, page 1

<PAGE>

                                   SCHEDULE 4

                        CUSTOMER CONTRACTS - BT PTY LTD

<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------
SAP Cust.                                                                                 Purchase
   No.             Parties              Date                   Contract name              Order No
--------------------------------------------------------------------------------------------------
<S>         <C>                     <C>            <C>                                      <C>
   2853     90East - end user: St      13-Jun-01   Developer Toolkit Maintenance and         870
            George Bank Limited                    Support Agreement
--------------------------------------------------------------------------------------------------
            Alpnet                  exp18-Jan-02   Maintenance and Support Agreement
--------------------------------------------------------------------------------------------------
   2573     ALPNET Inc                 29-Jan-01   Developer Toolkit Maintenance and         741
                                                   Support Agreement
--------------------------------------------------------------------------------------------------
            AMCOR                   exp20-Nov-01   Maintenance and Support Agreement
--------------------------------------------------------------------------------------------------
            APCA                    exp25-Nov-01   Maintenance and Support Agreement
--------------------------------------------------------------------------------------------------
            ASB Bank Limited,          27-Apr-02   Maintenance and Support Agreement        1228
            New Zealand
--------------------------------------------------------------------------------------------------
            Austrac                                Maintenance and Support Agreement         913
--------------------------------------------------------------------------------------------------
            Austrade                exp29-Jun-01   Maintenance and Support Agreement
--------------------------------------------------------------------------------------------------
            Australia and New          17-Dec-01   Amendment to Exhibit A of MSA            1093
            Zealand Banking
            Group Limited
--------------------------------------------------------------------------------------------------
   1837     Australia and New          30-Jun-00   License agreement                         509
            Zealand Banking
            Group Limited
--------------------------------------------------------------------------------------------------
   1837     Australia and New                      Support Agreement
            Zealand Banking
            Group Limited
--------------------------------------------------------------------------------------------------
   1402     Australian Taxation        29-Mar-00   Software License Agreement E-Tax +
            Office                                 Support
--------------------------------------------------------------------------------------------------
   1402     Australian Taxation        05-Sep-01   IT00-086 - Maintenance and Support
            Office                                 (FormSecure)
--------------------------------------------------------------------------------------------------
            Australian Taxation        01-Nov-01   Agreement IT00-121                       1102
            Office
--------------------------------------------------------------------------------------------------
            Australian Taxation                    Deed of Agreement - CDOA-066
            Office
--------------------------------------------------------------------------------------------------
            Australian Taxation        13-Feb-02   Ammendment No 5 to Contract No ITS
            Office                                 A99-151
--------------------------------------------------------------------------------------------------
   1402     Australian Taxation        26-Jun-01   ATO e-tax 2001 Security System            920
            Office                                 Redesign
--------------------------------------------------------------------------------------------------
   1403     Australian Trade           01-Jun-00   Software License and Services
            Commission                             Agreement
--------------------------------------------------------------------------------------------------
            Australian Trade           03-Apr-02   Systems modifications to support use
            Commission                             of Telstra Certificates
--------------------------------------------------------------------------------------------------
            Baycorp(ex 128i)        exp15-Aug-01   Maintenance and Support Agreement
--------------------------------------------------------------------------------------------------
            Baycorp(ex 128i)        exp30-Jan-01   Maintenance and Support Agreement
--------------------------------------------------------------------------------------------------
            beTrusted                  12-Feb-01   Consulting Services Agreement             795
            (PricewaterhouseCoop
            ers LLP)
--------------------------------------------------------------------------------------------------
            Commonwealth of            16-Nov-98   Endorsed Supplier Arrangement Head
            Australia (Department                  Agreement
            of Finance and
            Administration)
--------------------------------------------------------------------------------------------------
            Commonwealth of            30-Aug-01   Endorsed Supplier Arrangement Head
            Australia (Department                  Agreement
            of Finance and
            Administration)
--------------------------------------------------------------------------------------------------
</TABLE>

                               Schedule 4, page 1

<PAGE>

<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------
SAP Cust.                                                                              Purchase
   No.             Parties            Date                   Contract name             Order No
-----------------------------------------------------------------------------------------------
<S>         <C>                   <C>            <C>                                     <C>
   1709     CSC Australia Pty        24-May-01   e-Defence Project
            Limited
-----------------------------------------------------------------------------------------------
            DSTO                  exp29-Mar-02   Maintenance and Support Agreement
-----------------------------------------------------------------------------------------------
            Global IT Solutions   exp03-Jul-02   Maintenance and Support Agreement
-----------------------------------------------------------------------------------------------
   1425     Health Insurance         01-Feb-00   Provision of Software License and
            Commission                           Related Services
-----------------------------------------------------------------------------------------------
            Heritage Building     exp22-Nov-01   Maintenance and Support Agreement
-----------------------------------------------------------------------------------------------
            KPMG                  exp20-Feb-02   Maintenance and Support Agreement
-----------------------------------------------------------------------------------------------
            Medibank              exp24-May-02   Maintenance and Support Agreement
-----------------------------------------------------------------------------------------------
            Office of State       exp05-Sep-02   Maintenance and Support Agreement
            Revenue
-----------------------------------------------------------------------------------------------
   1618     PricewaterhouseCoop      29-Dec-00   Maintenance and Support Agreement        743
            ers
-----------------------------------------------------------------------------------------------
   1433     Sienna Technologies      30-Mar-01   Developer Toolkit Maintenance and        843
            Pty Ltd                              Support Agreement
-----------------------------------------------------------------------------------------------
            SmartCard             exp05-Sep-02   Maintenance and Support Agreement
            Applications
-----------------------------------------------------------------------------------------------
            St George                02-Apr-01   Maintenance and Support Agreement        846
-----------------------------------------------------------------------------------------------
   2745     St George Bank           04-Oct-01   Developer Toolkit Maintenance and       1048
            Limited                              Support Agreement
-----------------------------------------------------------------------------------------------
   2745     St George Bank           02-Apr-01   License agreement                        846
            Limited
-----------------------------------------------------------------------------------------------
   2745     St George Bank           30-Mar-01   Consulting Services Agreement            846
            Limited
-----------------------------------------------------------------------------------------------
            St George Bank           27-Mar-02   Amendment to Appendix 1 of Software     1188
            Limited                              Licence Agreement
-----------------------------------------------------------------------------------------------
            Sullivan Nicolaides   exp13-Sep-02   Maintenance and Support Agreement
            Pathology
-----------------------------------------------------------------------------------------------
            Tapcorp Assets Pty    exp13-Dec-01   Maintenance and Support Agreement
            Limited
-----------------------------------------------------------------------------------------------
            Telstra               exp17-Aug-02   Maintenance and Support Agreement        557
-----------------------------------------------------------------------------------------------
   1613     Telstra Corporation      30-Jun-00   Software License Agreement               557
            Limited
-----------------------------------------------------------------------------------------------
   1613     Telstra Corporation      14-Aug-01   Consulting Services Agreement            998
            Limited
-----------------------------------------------------------------------------------------------
            Telstra Corporation      21-Mar-02   Amendment to Appendix 1 of Software     1144
            Limited                              Licence Agreement
-----------------------------------------------------------------------------------------------
            Telstra Corporation      18-Aug-00   Accreditation Agreement
            Limited
-----------------------------------------------------------------------------------------------
            Telstra Corporation      14-Nov-01   Accreditation Agreement Amendment         --
            Limited                              No. 2
-----------------------------------------------------------------------------------------------
            Telstra Corporation      02-Apr-02   Accreditation Agreement Amendment
            Limited                              No. 3
-----------------------------------------------------------------------------------------------
            Telstra Corporation      21-Mar-02   Amendment to Exhibit A of               1141
            Limited                              Maintenance and Support Agreement
-----------------------------------------------------------------------------------------------
   2839     The Marketplace          30-Mar-01   Maintenance and Support Agreement        846
            Company Pty Ltd
-----------------------------------------------------------------------------------------------
            Velocity Systems      exp04-Sep-02   Maintenance and Support Agreement
-----------------------------------------------------------------------------------------------
</TABLE>

                               Schedule 4, page 2

<PAGE>

                            CUSTOMER CONTRACTS - CAPL

<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------
SAP Cust.                                                                             Purchase
   No.             Parties             Date                Contract name              Order No
----------------------------------------------------------------------------------------------
<S>         <C>                     <C>         <C>                                      <C>
   1401     ASX Operations Pty      23-Dec-99   CA Services Agreement
            Ltd
----------------------------------------------------------------------------------------------
   1403     Australian Trade        01-Jul-00   Services Contract
            Commission
----------------------------------------------------------------------------------------------
            Australian Taxation     09-Mar-00   Provision of Facilities Management
            Office                              Services for the ATO Tax Reform PKI
----------------------------------------------------------------------------------------------
 Unknown    Commonwealth of         20-Jan-00   Gatekeeper Head Agreement
            Australia (Office for
            Government Online)
----------------------------------------------------------------------------------------------
 Unknown    Cth of Australia        20-Nov-00   Gatekeeper Head Agreement
            (National Officer for
            the Information
            Economy)
----------------------------------------------------------------------------------------------
            Commonwealth of         08-Feb-99   Endorsed Supplier Arrangement Head
            Australia (Department               Agrement
            of Finance and
            Administration)
----------------------------------------------------------------------------------------------
            Commonwealth of         30-Aug-01   Endorsed Supplier Arrangement Head
            Australia (Department               Agrement
            of Finance and
            Adminstration)
----------------------------------------------------------------------------------------------
   1425     Health eSignature       29-Mar-00   Services Contract for Certification
            Authority Pty Ltd                   Services
----------------------------------------------------------------------------------------------
            Health eSignature       06-Apr-00   CA RA Agreement
            Authority Pty Ltd
----------------------------------------------------------------------------------------------
            Heritage Building       21-Feb-00   CA RA Services Agreement
            Society
----------------------------------------------------------------------------------------------
   1618     PricewaterhouseCoop                 Facilities Agreement
   AU02     ers
----------------------------------------------------------------------------------------------
   1613     Telstra Corporation                 Facilities Agreement                     915
            Limited
----------------------------------------------------------------------------------------------
            Australian Taxation     09-Mar-00   ITOO-01
            Office
----------------------------------------------------------------------------------------------
   2745     St George Bank          16-May-01   Hosting Agreement
            Limited
----------------------------------------------------------------------------------------------
            Moneygator              execution   (contract unable to be located)
----------------------------------------------------------------------------------------------
            Law Society of New                  (contract unable to be located)
            South Wales
----------------------------------------------------------------------------------------------
            Content Technologies                E-Sweeper Hosting Agreement
----------------------------------------------------------------------------------------------
</TABLE>

                               Schedule 4, page 3

<PAGE>

                                   SCHEDULE 5

                                 OTHER CONTRACTS

TABLE 1 - MISCELLANEOUS

<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------
No             Parties                            Contract Name                Contract Data
-----------------------------------------------------------------------------------------------
<S>   <C>                              <C>                                  <C>
1.    Force Professional Security      Security Services Contract           Tax Invoice for
      Services Pty Ltd and Baltimore                                        security services
      Technologies Pty Limited                                              during the quarter
                                                                            1/10/01 to 31/12/01
                                                                            ($572.00 for qtr)
-----------------------------------------------------------------------------------------------
2                                      If the Buyer occupies the Property
                                       subsequent to Completion, the Car
                                       Parking Licence.
-----------------------------------------------------------------------------------------------
</TABLE>

TABLE 2 - SOFTWARE LICENCES FROM THIRD PARTIES

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------
                                              Number of
Licenses                                       Licenses                Term
---------------------------------------------------------------------------------------
<S>                                           <C>          <C>
Apex TrueGrid                                     1        indefinite unless terminated

---------------------------------------------------------------------------------------
Borland                                           1        No provision
---------------------------------------------------------------------------------------
Cisco VPN 3000 Client                             1        indefinite unless terminated
---------------------------------------------------------------------------------------
Cisco VPN 3000 Concentrator Series                1        indefinite unless terminated
---------------------------------------------------------------------------------------
Crescent QuickPak                                 1        No provision
---------------------------------------------------------------------------------------
InstallShield 5.1 Prof edn                        1        indefinite unless terminated
---------------------------------------------------------------------------------------
Intersolv Data ODBC Drivers V3.01 (GA)            1        indefinite unless terminated
---------------------------------------------------------------------------------------
Intersolv Software License Agreement              1        indefinite unless terminated
---------------------------------------------------------------------------------------
McAfee                                            1        indefinite unless terminated
---------------------------------------------------------------------------------------
Mercury Interactive Java add-on                   4        No provision
---------------------------------------------------------------------------------------
Mercury Interactive Test Director Clients         3        No provision
---------------------------------------------------------------------------------------
Mercury Interactive Test Director                 1        No provision
   Repository
---------------------------------------------------------------------------------------
Mercury Interactive TestBytes                     1        No provision
---------------------------------------------------------------------------------------
Mercury Interactive WEB test add-on               4        No provision
---------------------------------------------------------------------------------------
Mercury Interactive WinRunner                     4        No provision
   Professional
---------------------------------------------------------------------------------------
Microsoft Windows NT Workstation                 115       indefinite unless terminated
---------------------------------------------------------------------------------------
Microsoft Developer Network                       1        indefinite unless terminated
---------------------------------------------------------------------------------------
Microsoft Frontpage for Windows 32 bit            1        indefinite unless terminated
---------------------------------------------------------------------------------------
Microsoft Frontpage for Windows 32 bit            1        indefinite unless terminated
---------------------------------------------------------------------------------------
Microsoft Mastering MFC prof edn                  1        indefinite unless terminated
---------------------------------------------------------------------------------------
Microsoft NT Server V4.0 (client access          70        indefinite unless terminated
   license)
---------------------------------------------------------------------------------------
Microsoft NT Server V4.0 (end user license)   75 client    indefinite unless terminated
                                              access; 8
                                              processors
---------------------------------------------------------------------------------------
Microsoft NT Server V4.0 (server license)         3        No provision
---------------------------------------------------------------------------------------
Microsoft Office 97 Prof edn                      1        indefinite unless terminated
---------------------------------------------------------------------------------------
</TABLE>

                               Schedule 5, Page 1

<PAGE>

<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------
                                           Number of
Licenses                                    Licenses               Term
-----------------------------------------------------------------------------------
<S>                                           <C>      <C>
-----------------------------------------------------------------------------------
Microsoft project V4.1                         1       indefinite unless terminated
-----------------------------------------------------------------------------------
Microsoft Server Mail V2.1                     1       No provision
-----------------------------------------------------------------------------------
Microsoft Server Mail V2.1 client              5       No provision
-----------------------------------------------------------------------------------
Microsoft Server Mail V2.1 PC Networks         5       No provision
-----------------------------------------------------------------------------------
Microsoft SQL Server V7.0 (client access       5       indefinite unless terminated
license)
-----------------------------------------------------------------------------------
Microsoft SQL Server V7.0 (end user            1       No provision
license)
-----------------------------------------------------------------------------------
Microsoft Visual Basic V4.0                    1       No provision
-----------------------------------------------------------------------------------
Microsoft Visual C++ V4.0                      1       indefinite unless terminated
-----------------------------------------------------------------------------------
Microsoft Visual C++ V5.0                      1       indefinite unless terminated
-----------------------------------------------------------------------------------
Microsoft Visual J++ V1.1                      1       indefinite unless terminated
-----------------------------------------------------------------------------------
Microsoft Windows 95                          18       indefinite unless terminated
-----------------------------------------------------------------------------------
Microsoft Windows 98                          17       indefinite unless terminated
-----------------------------------------------------------------------------------
Microsoft Word 95 V7.0                         1       indefinite unless terminated
-----------------------------------------------------------------------------------
Oracle MS Windows NT Programmer 2000           1       No provision
-----------------------------------------------------------------------------------
Rational                                       1       indefinite unless terminated
-----------------------------------------------------------------------------------
Seagate                                        2       indefinite unless terminated
-----------------------------------------------------------------------------------
Subclass-EZ Custom Control                     1       No provision
-----------------------------------------------------------------------------------
Symantec VCPE W5N 3.0                         10       No provision
-----------------------------------------------------------------------------------
VBAssist 3.0C                                  1       No provision
-----------------------------------------------------------------------------------
VBCTL3D Custom Control                         1       No provision
-----------------------------------------------------------------------------------
Videosoft                                      1       No provision
-----------------------------------------------------------------------------------
Virtual Media HDK                              1       No provision
-----------------------------------------------------------------------------------
Virtual Media HDK (QA dept license)            1       No provision
-----------------------------------------------------------------------------------
Windows NT backup exec                         1       indefinite unless terminated
-----------------------------------------------------------------------------------
Windows NT Seagate backup exec                 5       indefinite unless terminated
-----------------------------------------------------------------------------------
Windows NT server client access license        5       indefinite unless terminated
-----------------------------------------------------------------------------------
Windows NT Server diskeeper                    7       No provision
-----------------------------------------------------------------------------------
Winzip                                         1       No provision
-----------------------------------------------------------------------------------
</TABLE>

                               Schedule 5, Page 2

<PAGE>

                                   SCHEDULE 6

                        PART 1: EMPLOYEES AND CONTRACTORS

                               Schedule 6, Page 1

<PAGE>

                            PART 2: EXCLUDED PERSONS

Excluded Persons are:

(a)  John Palfreyman;

(b)  Simon Laing;

(c)  Robert Cook;

(d)  Rory Brennan;

(e)  Winston Wong;

(f)  Michael Jeffries;

(g)  David Pont;

(h)  Royce Fraser;

(i)  Tom Biskupic;

(j)  Greg Colla;

(k)  Paul Novak;

(l)  Mahesh Shirali;

(m)  Maureen Ure;

(n)  Dorothy Richardson; and

(o)  all employees located in the Singapore and/or Hong Kong offices of BT Pty
     Ltd.

                               Schedule 6, page 2

<PAGE>

                                   SCHEDULE 7

                              CONDITIONS PRECEDENT

<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------
No.                      Condition                            Benefiting Party/Parties
--------------------------------------------------------------------------------------
<S>   <C>                                                     <C>
1.    Execution of the following agreements by all parties    Buyer and Sellers
      to them, and those agreements being completed subject
      only to Completion occurring under this Agreement;

      Distribution Agreement: Baltimore Ireland and the
      Buyer sign the Distribution Agreement;

      Trusted World Partner Agreement: BT plc and the
      Buyer sign the Trusted World Partner Agreement;

      SecureNet Professional Services Agreement: BT plc
      and the Buyer sign the SecureNet Professional
      Services Agreement;

      Baltimore Professional Services Agreement: BT plc
      and the Buyer sign the Baltimore Professional
      Services Agreement.

--------------------------------------------------------------------------------------
2.    landlord's consent: the Sellers obtain:                 Buyer

          A.   written consent of the lessor under the
               Artarmon Property Lease to the assignment of
               the Artarmon Property Lease; and

          B.   written consent of the lessor under the Car
               Parking Licence to its assignment to the
               Buyer.

--------------------------------------------------------------------------------------
3.    Pyrmont Property Lease: the parties reaching            Buyer
      agreement with the landlord under the Pyrmont
      Property Lease in accordance with clause 4.2(b).

--------------------------------------------------------------------------------------
</TABLE>

                               Schedule 7, page 1

<PAGE>

<TABLE>
<S>   <C>                                                     <C>
--------------------------------------------------------------------------------------
4.    release of banker's undertakings: CAPL is released      Sellers
      from the banker's undertaking entered into by it in
      relation to the Artarmon Property Lease.

--------------------------------------------------------------------------------------
5.    warranties true: none of the Seller Warranties are      Buyer
      or have become materially false, misleading or
      incorrect.

--------------------------------------------------------------------------------------
6.    warranties true: none of the Buyer Warranties are or    Sellers
      have become materially false, misleading or
      incorrect.

--------------------------------------------------------------------------------------
7.    Transferring Persons: that at least 75% of the          Buyer and Sellers
      Employees (excluding the Excluded Persons), including
      the Key Employees, accept the Offer of employment
      made by the Buyer pursuant to clause 8.1.

--------------------------------------------------------------------------------------
8.    Customer Contracts: that the Customer Contracts with    Buyer
      the Australian Taxation Office,
      PriceWaterhousecoopers, Telstra Corporation Limited,
      St George Bank Limited and eDefence/CSC are assigned
      to the Buyer on terms that are acceptable to the
      Buyer, acting reasonably and in good faith.

--------------------------------------------------------------------------------------
9.    HIC Dispute: that the Sellers resolve the dispute       Buyer
      between the Sellers and the Health Insurance
      Commission in accordance with the proposed
      settlement terms set out in the letter from BT Pty
      Ltd to the Health Insurance Commission dated
      1 May 2002 and attached to the Disclosure
      Letter.

--------------------------------------------------------------------------------------
10.   Material adverse change: that there is no material      Buyer and Sellers
      adverse change between the date of this Agreement and
      the Completion Date in respect of the aggregate value
      of the Business Assets.

--------------------------------------------------------------------------------------
</TABLE>

                               Schedule 7, page 2

<PAGE>

                                   SCHEDULE 8

                             SELLER GROUP GUARANTEES

(a)  The Health Insurance Commission performance guarantee entered into on 22
     March 2000 whereby Baltimore Technologies plc provides guarantees and
     indemnities to the Health Insurance Commission in respect of the
     performance of obligations by Baltimore Technologies Pty Ltd to grant a
     licence to the Health Insurance Commission for specified software and to
     provide to the Health Insurance Commission certain support services. For
     the avoidance of doubt, the Unconditional Financial Undertaking provided by
     the Australia and New Zealand Banking Group Limited Number 09300/2059 dated
     28 March 2000 also relates to the Health Insurance Commission performance
     guarantee referred to in this paragraph, but is not a Seller Group
     Guarantee.

(b)  The Unconditional Performance Guarantee entered into on 27 April 1999
     whereby Baltimore Technologies Pty Ltd provides guarantees and indemnities
     to the Commonwealth of Australia, Department of Finance and Administration,
     in respect of the performance of obligations under a head agreement between
     Certificates Australia Pty Ltd and the Commonwealth of Australia to supply
     to customers various information technology and telecommunications services
     and products.

(c)  The Unconditional Performance Guarantee entered into on 27 April 1999
     whereby Zergo Holdings PLC provides guarantees and indemnities to the
     Commonwealth of Australia, Department of Finance and Administration in
     respect of the performance of obligations under a head agreement between
     Certificates Australia Pty Ltd and the Commonwealth of Australia to supply
     to customers various information technology and telecommunications services
     and products.

                               Schedule 8, page 1

<PAGE>

                                   SCHEDULE 9

                            UNLICENSED SOFTWARE COST

                       as referred to in clause 5.1(a)(i)

License Procurement requirements for ANZ Operations as a standalone entity

                  Currency AU(pound)   Currency STR(pound)
                  ------------------   -------------------
Server Licenses        $ 74,860           (pound)27,773
Client Licenses        $163,410           (pound)60,625
                       $238,270           (pound)88,398

                               Schedule 9, page 1

<PAGE>

SIGNED as an agreement.

SIGNED by Bijan Khezri as authorised
signatory for BALTIMORE TECHNOLOGIES
PTY LIMITED in the presence of:

-----------------------------------------   ------------------------------------
Signature of witness                        Signature of Bijan Khezri

-----------------------------------------
Name of witness (print)

SIGNED by Bijan Khezri as authorised
signatory for BALTIMORE TECHNOLOGIES
PLC in the presence of:

-----------------------------------------   ------------------------------------
Signature of witness                        Signature of Bijan Khezri

-----------------------------------------
Name of witness (print)

SIGNED by Bijan Khezri as authorised
signatory for BALTIMORE CERTIFICATES
AUSTRALIA PTY LIMITED in the presence of:

-----------------------------------------   ------------------------------------
Signature of witness                        Signature of Bijan Khezri

-----------------------------------------
Name of witness (print)

                                 Signing page 1

<PAGE>

SIGNED by SECURENET LIMITED by:

-----------------------------------------   ------------------------------------
Signature of Director                       Signature of Director/Secretary

-----------------------------------------   ------------------------------------
Name of Director (print)                    Name of Director/Secretary (print)

                                 Signing page 2

<PAGE>

                                  ATTACHMENT A

                              ADJUSTMENT STATEMENT

Adjustment Schedule
at 31 March 2002

                                AU 01      AU 02      Total
                               --------   -------   --------

Employee Loans and Advances       2,600                2,600
Work in Progress                198,900              198,900
Seller Prepayments                8,290      3359     11,649
                               --------   -------   --------
Increase in Purchase Price      209,790     3,359    213,149
                               --------   -------   --------

Accrued Salaries                  4,751                4,751
Accrued Contactor Fees            6,030                6,030
Accrued Light and Power          20,200      1000     21,200
Accrued phone                    29,550               29,550
Accrued Death and Disability      3,058       561      3,619
Unlicensed Software Cost        238,270              238,270
Other                                 0       964        964
Employee Entitlements           186,839              186,839
Deferred Revenue                401,925     36755    438,680
                               --------   -------   --------
Decrease in Purchase Price      890,623    39,280    929,903
                               --------   -------   --------

Net Change in Purchase Price   -680,833   -35,921   -716,754

                              Attachment B, page 1

<PAGE>

                                  ATTACHMENT B

                             DISTRIBUTION AGREEMENT

                              Attachment B, page 1

<PAGE>

                                  ATTACHMENT C

                         TRUSTED WORLD PARTNER AGREEMENT

                              Attachment C, page 1

<PAGE>

                                  ATTACHMENT D

                                   DICTIONARY

PART 1 - DEFINITIONS

In this Agreement:

Accounting Standards means:

(a)  subject to paragraph (b) below, accounting standards approved under UK
     GAAP;

(b)  solely in relation to revenue recognition, where the policy to be
     implemented is to be consistent with US GAAP; and

(b)  generally accepted and consistently applied principles and practices
     adopted in the preparation of the latest balance sheet and financial
     accounts of the Sellers, except those inconsistent with the standards or
     requirements referred to in paragraph (a).

Adjustment Amount is defined in clause 5.1.

Adjustment Date means the date 7 days from agreement between the Sellers and the
Buyer or determination by an Independent Expert as to the Adjustment Amount,
whichever first occurs, on which date the Adjustment Amount is paid.

Adjustment Period means the period of 28 days after the Completion Date.

Adjustment Statement means the adjustment statement referred to in clause 5.1
and set out in Attachment A.

Agreement means this Business Purchase Agreement, as executed by the parties,
including all the Schedules and Attachments to the Agreement.

Artarmon Property means the property leased under the Artarmon Property Lease.

Artarmon Property Lease means the lease of the real property under which CAPL is
the lessee with Folio Identifier 9/11/4088.

                              Attachment D, page 1

<PAGE>

Asset Leases means the leases, hire purchase agreements, conditional purchase
agreements and other hiring arrangements for assets, equipment and computers
used in the Business:

(a)  to which a Seller is a party as at the Completion Date;

(b)  which are set out in Parts 1 and 2 of Schedule 3; and

(c)  not including those which relate to Excluded Assets.

Authorisation includes:

(a)  a consent, registration, filing, agreement, notice of non-objection,
     notarisation, certificate, licence, approval, permit, authority or
     exemption from, by or with a Government Agency; and

(b)  in relation to anything which a Government Agency may prohibit or restrict
     within a specific period, the expiry of that period without intervention or
     action.

Baltimore Ireland means Baltimore Technologies Limited (a company incorproated
under the laws of the Republic of Ireland) of 39-41 Parkgate Street, Dublin 8,
Rep. of Ireland.

Baltimore Professional Services Agreement means the agreement of said name to be
entered into between the Buyer and BT plc on or before Completion.

Benefiting Party means the party entitled to the benefit of a Condition, as set
out next to that Condition in Schedule 7.

Business means the collective business in Australia of the Sellers in providing
certification services and designing and supporting security products which have
the purpose of protecting and enabling computer based information systems, as at
the date of this Agreement.

Business Assets means all of the business assets and contracts used in or
forming part of the Business at the Completion Date, consisting of the:

(a)  Computer System;

(b)  all rights in the Asset Leases (Schedule 3);

                              Attachment D, page 2

<PAGE>

(c)  Business Records; and copies of the Excluded Records provided pursuant to
     clause 6.3;

(d)  Customer Contracts (Schedule 4);

(e)  Other Contracts (Schedule 5);

(f)  Marketing Material;

(g)  Plant, Fixtures and Fittings;

(h)  Local Intellectual Property;

(i)  the domain name www.certificates-australia.com.au;

(j)  Work in Progress;

(k)  Seller Prepayments;

(l)  goodwill; and

(m)  2 Unicert licences with Level 3 Support at an annual fee not to exceed
     AU$5,000, and where one of those licences includes 2,500 certificates per
     annum,

but excludes the Excluded Contracts and Excluded Assets.

Business Contracts means the Asset Leases, Customer Contracts and Other
Contracts, excluding the Excluded Contracts.

Business Day means a day on which banks are open for business in Sydney
excluding a Saturday, Sunday or public holiday.

Business Records means in relation to the Business:

(a)  copies of customer and supplier lists;

(b)  evidence of Work in Progress;

(c)  records of Business Contracts;

                              Attachment D, page 3

<PAGE>

(d)  records of Transferring Persons and of the entitlements referred to in
     clause 9 (Employment and Superannuation);

(e)  computer programs, data bases, and software in relation to the Plant,
     Fixtures and Fittings and Asset Leases;

(f)  copies of ledgers, journals and books of account;

(g)  information on the manufacture, production and marketing of any goods made
     or sold in the Business including Marketing Material; and

(h)  all other documents and records about the Business Assets transferred under
     this Agreement,

but excludes the Excluded Records.

Buyer Warranties means the representations and warranties set out in Part 2 of
Schedule 2.

Car Parking Licence means the licence agreement dated 21 May 2001 between
Citycap Pty Limited and BT Pty Ltd for the licence to BT Pty Ltd of 11 car
parking spaces at the Property.

Claim means, in relation to a person, any claim, action, proceeding, demand or
judgment (including without limitation damages) against that person, or any cost
or expense incurred by that person.

Completion means completion of the sale and purchase of the Business Assets
under clause 6 and completion of the Adjustment Statement under clause 5.

Completion Date means the date on which Completion occurs in accordance with
clause 6.1, which must be no later than the End Date.

Computer System means all computer hardware, software and networks owned or used
by the Business and owned by a Seller, including arrangements relating to the
provision of maintenance and support, security, disaster recovery, facilities
management, bureau and on-line services to the Business but excludes any
computer hardware, software and networks which are subject to or form part of
the Excluded Contracts and Excluded Assets or the Asset Leases.

                              Attachment D, page 4

<PAGE>

Condition means a condition precedent set out in Schedule 7.

Contractors means the contractors engaged by the Sellers in respect of the
Business listed in Part 1 of Schedule 6 and any person who is engaged as a
contractor of the Business between the date of this Agreement and Completion.

Corporations Act means the Corporations Act 2001 (Cth).

Customer Contracts means all the contracts, engagements or orders entered into
on or prior to the Completion Date by or on behalf of the Sellers with customers
for the sale or provision of services (including support, maintenance or
consulting services) in connection with the Business, where the contract,
engagement or order remains to be performed in whole or part by the Sellers
(whether or not an order for services is required to be made by the customer)
and where either:

(a)  the contracts, engagements or orders are listed in Schedule 4; or

(b)  the Buyer agrees to accept the assignment of such contract.

Deferred Revenue means revenue to the Sellers in respect of contractual
obligations to be discharged by the Buyer subsequent to Completion.

Disclosure Letter means the letter from the Sellers dated the date of the
Agreement and delivered to the Buyer before the signing of this Agreement and
which contains disclosures about the Seller Warranties.

Distribution Agreement means the agreement of the said name, to be entered into
by the Buyer and Baltimore Ireland on or about the date of this Agreement in the
form attached to this Agreement as Attachment C.

Employees means the employees of the Business listed in Part 1 of Schedule 6 and
any person who becomes an employee of the Business between the date of this
Agreement and Completion, but does not include Excluded Persons.

Employee Entitlement, in relation to an employee, means the full amount of any
remuneration and compensation accrued to the employee, including:

(a)  the amounts accrued to the employee as set out in Schedule 6 as at 31 March
     2002 and as updated at Completion as of the Completion Date;

(b)  On-Costs;

                              Attachment D, page 5

<PAGE>

(c)  salary or wages; and

(d)  sick leave, annual leave (adjusted in accordance with clause 8.2(e) as
     applicable), leave loading and long service leave.

End Date means 30 June 2002 or such other date as agreed in writing between the
Buyer and the Sellers.

Excluded Contracts and Excluded Assets means the items set out in Part 2 of
Schedule 1.

Excluded Persons means the employees or contractors of the Business listed in
Part 2 of Schedule 6.

Excluded Records means those Business Records which:

(a)  a Seller is required by law to retain; or

(b)  are subject to legal professional privilege; or

(c)  which relate to any part of the Business or Excluded Contracts and Excluded
     Assets which are not being transferred under this Agreement

Government Agency means a government or governmental, semi-governmental,
administrative, fiscal or judicial body, department, commission, authority,
tribunal, agency or entity whether foreign, federal, state, territorial or
local.

GST means goods and services tax under the GST Law.

GST Law has the same meaning as in A New Tax System (Goods and Services Tax) Act
1999.

Guarantee means any performance or other guarantee, indemnity, letter of credit,
legally binding letter of comfort or suretyship including any other obligation
or irrevocable offer (whatever called and of whatever nature):

(a)  to pay, purchase or perform;

(b)  to provide funds for the payment or discharge of;

(c)  to indemnify against the consequences of default in the payment or
     performance of;

                              Attachment D, page 6

<PAGE>

(d)  to be responsible otherwise for,

an obligation or debt of another person.

HIC Agreement means the agreement for the provision of a software licence and
related services between the Health Insurance Commission and BT Pty Ltd dated 1
February 2000.

Independent Expert means the President for the time being of the Institute of
Chartered Accountants in Australia, NSW Division or his/her nominee.

Industry Fund means the Optimum Superannuation Industry Trust.

Insolvency Event means the occurrence of any one or more of the following events
in relation to any party to this Agreement:

(a)  either the party being in liquidation or an order, petition, application,
     proceeding, meeting or resolution being made, presented, brought, called or
     passed for the purpose of winding up the party and not withdrawn;

(b)  a controller (within the meaning of the Corporations Act) having possession
     or control of any of the assets or undertaking of the party for the purpose
     of enforcing a charge;

(c)  a chargee or other person being entitled to be in, or having threatened to
     take, possession or control of any of the assets or undertaking of the
     party for the purpose of enforcing a charge;

(d)  an administrator (within the meaning of the Corporations Act) having been
     appointed or threatened to be appointed to the party; or

(e)  the party having stopped payments to creditors generally, or being
     insolvent (within the meaning of the Corporations Act) or unable to pay its
     debts as and when they fall due.

Integration Committee means the committee that will be established by the
Sellers and the Buyer for the purpose of monitoring the operation of the Sellers
and the Business between the date of this Agreement and the Completion Date
pursuant to clause 4.4.

Intellectual Property means all intellectual property rights subsisting
throughout the world conferred under statute, common law or equity, including
but not limited to:

(a)  patents, copyright, rights in circuit layouts, registered designs, trade
     marks, rights in know-how and any right to have information kept
     confidential; and

                              Attachment D, page 7

<PAGE>

(b)  any application or right to apply for registration of any of the rights
     referred to in paragraph (a).

Inter-company Debt means any amounts owing by the Sellers to a Related Body
Corporate at the Completion Date or any amounts owing by a Related Body
Corporate to the Sellers as at the Completion Date.

Key Employees means Wendy Watson, Narelle Behn-Carey, Mark Bower, John Karabin
and Gabriel Haythornthwaite.

Liability or Liabilities means any or all liabilities, losses, damages,
outgoings, claims, costs and expenses of whatever description.

Local Intellectual Property means BT Pty Ltd's rights, title and interest in any
Intellectual Property in any data, manuals, worksheet, spreadsheet and other
related material, created or developed by the Professional Services Group of BT
Pty Ltd as at the Completion Date:

Marketing Material means promotional material, catalogues, display stands,
signs, film, and print media material and material of a similar nature used in
the Business.

Officer means, in relation to a body corporate, a director or secretary of that
body corporate.

On-Costs, in relation to an employee, means the costs of the employer in
addition to salary or wages that arise on account of the employment of the
employee, including superannuation and pension fund contributions, workers'
compensation insurance, medical insurance and fringe benefits and payroll tax,
but not including sick leave, annual leave, leave loading or long service leave.

Other Contracts means the contracts affecting the Business to which a Seller is
a party including certain:

(a)  Software Licences;

(b)  contracts with suppliers of a Seller; and

(c)  contracts with independent contractors,

where either:

(d)  the contract is listed in Schedule 5; or

(e)  the Buyer agrees to accept the assignment of the contract,

                              Attachment D, page 8

<PAGE>

but excluding the Asset Leases, the Excluded Contracts and Customer Contracts.

Plant, Fixtures and Fittings means the fixtures, fittings, plant, machinery,
equipment, furniture, utensils, templates, implements, chattels, equipment and
leasehold refurbishment improvements which are:

(a)  owned by a Seller;

(b)  situated at the Property or the Artarmon Property;

(c)  not subject to a Security Interest;

(e)  not the subject of an Asset Lease or Other Contract;

(f)  not subject to or form part of the Excluded Contracts and Excluded Assets.

Property means the property leased under the Pyrmont Property Lease.

Purchase Price means the purchase price payable for the Business Assets.

Pyrmont Property Lease means the lease of the real property under which BT Pty
Ltd is the lessee with CT Volume/Folio numbers 101/853704 and 102/853704 and the
Car Parking Licence.

Receivables means the debts owed to the Sellers by a third party, and the trade
debts acquired in the ordinary course of the Business, as at the Completion Date
but exclude Inter-Company Debt.

Redundancy Payouts, in relation to an employee, means the entitlements payable
to the employee in the form of remuneration, compensation or benefits arising
out of the termination of the employee's employment with either BT Pty Ltd or
the Buyer, excluding any Employee Entitlements.

Related Agreements means the agreements set out in Condition 1.

Related Bodies Corporate has the meaning given to that term under the
Corporations Act.

SecureNet Professional Services Agreement means the agreement of said name to be
entered into between the Buyer and BT plc on or before Completion.

Security Interest means a right, interest, power or arrangement in relation to
an asset which provides security for the payment or satisfaction of a debt,
obligation or liability including without limitation under a bill of sale,
mortgage, charge, lien, pledge, trust, power, deposit, hypothecation or
arrangement for retention of title, and includes an agreement to grant or create
any of those things.

Seller Accruals means payments by the Buyer to the benefit of the Sellers in
respect of contractual obligations incurred by the Sellers prior to Completion
and pursuant to the terms of this Agreement to be discharged by the Buyer
subsequent to Completion.

                              Attachment D, page 9

<PAGE>

Seller Group Guarantee means each Guarantee provided by, on behalf of or in
favour of BT Pty Ltd or CAPL or BT plc in relation to the continued performance
of a Business Contract, whether directly or indirectly via an intermediary such
as a bank, and which is listed in Schedule 8.

Seller Prepayments means prepayment by the Sellers to the benefit of the Buyer
in respect of contractual obligations to be discharged by the Buyer subsequent
to Completion.

Seller Warranties means the representations and warranties set out in Part 1 of
Schedule 2.

Software Licences means any licences, authorisations and permissions granted by
a third party, whether express or implied, to a Seller pertaining to the use by
the Seller of that third party's intellectual property, including those set out
in Schedule 5 but excluding software applications made available through or
resident on the Baltimore global intranet as at the date of this Agreement.

Tax means a tax, levy, charge, impost, fee, deduction, withholding or duty of
any nature, including, without limitation, stamp and transaction duty or any
goods and services tax (including GST), value added tax or consumption tax,
which is imposed or collected by a Government Agency, except where the context
requires otherwise. This includes, but is not limited to, any interest, fine,
penalty, charge, fee or other amount imposed in addition to those amounts.

Transferring Person means an Employee or Contractor who accepts an Offer.

Trusted World Partner Agreement means the agreement of said name to be entered
into between the Buyer and BT plc on or about the date of this Agreement
substantially in the form attached to this Agreement in Attachment D.

Unlicensed Software Cost means the cost of replacing the oftware referred to in
Schedule 9.

Warrantors means BT Pty Ltd, CAPL and BT plc.

Work in Progress means work in progress under Customer Contracts being
transferred in accordance with this Agreement.

PART 2 - INTERPRETATION

(a)  In this Agreement unless the context otherwise requires:

     (i)  words importing the singular include the plural and vice versa;

     (ii) words which are gender neutral or gender specific include each gender;

                              Attachment D, page 10

<PAGE>

     (iii)  other parts of speech and grammatical forms of a word or phrase
            defined in this Agreement have a corresponding meaning;

     (iv)   an expression importing a natural person includes a company,
            partnership, joint venture, association, corporation or other body
            corporate and a Government Agency;

     (v)    a reference to a thing (including, but not limited to, a
            chose-in-action or other right) includes a part of that thing;

     (vi)   a reference to a clause, party, schedule or attachment is a
            reference to a clause of this Agreement, and a party, schedule or
            attachment to, this Agreement, and a reference to this Agreement
            includes a schedule and attachment to this Agreement;

     (vii)  a reference to this Agreement includes this Dictionary;

     (viii) a reference to a law includes a constitutional provision, treaty,
            decree, convention, statute, regulation, ordinance, by-law
            judgment, rule of common law or equity or a rule of an applicable
            stock exchange and is a reference to that law as amended,
            consolidated or replaced;

     (ix)   a reference to a document includes all amendments or supplements to
            that document, or replacements or novations of it;

     (x)    a reference to a party to a document includes that party's
            successors and permitted assigns;

     (xi)   if a party comprises two or more persons, a covenant, undertaking,
            representation, warranty, indemnity or agreement made or given by
            that party binds those persons jointly and severally;

     (xii)  a reference to an agreement, other than this Agreement, includes an
            undertaking, deed, agreement or legally enforceable arrangement or
            understanding, whether or not in writing; and

     (xiii) all references to dollars, $, cost, value and price are to be in
            Australian currency.

                              Attachment D, page 11

<PAGE>

(b)  Any words in this Agreement appearing after the words "include", "includes"
     or "including", do not limit anything else that might be included.

(c)  Where the day on or by which something must be done is not a Business Day,
     that thing must be done on or by the following Business Day.

(d)  Headings are for convenience only and do not affect the interpretation of
     this Agreement.

(e)  This Agreement may not be construed adversely to a party just because that
     party prepared this Agreement.

(f)  A term or expression starting with a capital letter:

     (i)    which is defined in this Dictionary, has the meaning given to it in
            this Dictionary;

     (ii)   which is defined in the Corporations Act but is not defined in this
            Dictionary, has the same meaning as in the Corporations Act; and

     (iii)  which is defined in the GST Law but is not defined in this
            Dictionary, has the same meaning as in the GST Law.

                              Attachment D, page 12<PAGE>

                                                                     Exhibit 4.5

                        Dated                       2002
                             ----------------------

                       Baltimore Technologies (UK) Limited

                                     - and -

                         Baltimore Technologies Limited

                                      -and-

                           Baltimore Technologies plc

                                     - and -

                        AEP Systems International Limited

                                    AGREEMENT

                                 - relating to -

                The Sale and Purchase of The Hardware Business of
                       Baltimore Technologies (UK) Limited

                            L.K. Shields, Solicitors
                            39/40 Upper Mount Street
                                    Dublin 2
                                     Ireland

                             Tel. 00 353 1 661 0866
                              Fax 00 353 1 661 0883
                               email@lkshields.ie
                                www.lkshields.ie

                   1312-011/docs/salesagreement clean-18.09.02

<PAGE>

                                    CONTENTS

CLAUSE:

1.    INTERPRETATION                                                           4

2.    SALE AND PURCHASE OF THE HARDWARE BUSINESS                              10

3.    CONSIDERATION                                                           11

4.    ASSETS AND LIABILITIES NOT INCLUDED IN THE SALE                         12

5.    COMPLETION                                                              12

6.    COMPLETION STOCKTAKE AND ARRANGEMENTS FROM THE EFFECTIVE DATE
      UNTIL COMPLETION                                                        15

7.    INTELLECTUAL PROPERTY                                                   16

8.    NOVATION                                                                17

9.    VAT                                                                     18

10.   WARRANTIES                                                              19

11.   LIMITATION ON CLAIMS                                                    20

12.   EMPLOYEES AND PENSIONS                                                  22

13.   CONFIDENTIALITY AND ANNOUNCEMENTS                                       24

14.   FURTHER ASSURANCE AND AVAILABILITY OF INFORMATION                       24

15.   INTEREST                                                                24

16.   CONTINUING OBLIGATIONS AND ASSIGNMENT                                   25

17.   COSTS                                                                   25

18.   NOTICES                                                                 25

19.   SEVERABILITY                                                            25

20.   ENTIRE AGREEMENT AND VARIATION                                          26

21.   GENERAL PROVISIONS                                                      26

22.   SELLERS GUARANTEE                                                       27

23.   GOVERNING LAW AND JURISDICTION                                          28

24.   THIRD PARTY RIGHTS                                                      28

25.   CERTIFICATE OF VALUE                                                    28

SCHEDULE 1                                                                    30

      Business Intellectual Property                                          30

SCHEDULE 2                                                                    32

      Customer Contracts                                                      32

                                        2

<PAGE>

SCHEDULE 3                                                                    33

      Demised Premises                                                        33

SCHEDULE 4                                                                    34

      Deed Of Covenants                                                       34

SCHEDULE 5                                                                    37

      Employees                                                               37

SCHEDULE 6                                                                    38

      Asset Register                                                          38

SCHEDULE 7                                                                    46

      IP Licences                                                             46

SCHEDULE 8                                                                    48

      Leasing / Hire Purchase                                                 48

SCHEDULE 9                                                                    51

      Supplier Contracts                                                      51

SCHEDULE 10                                                                   53

      Warranties                                                              53

SCHEDULE 11                                                                   70

      Stock List                                                              70

SCHEDULE 12                                                                   91

      Baltimore Trade Marks                                                   91

APPENDICES

1.   Management Accounts as at the balance sheet date

2.   Option Arrangement

                                        3

<PAGE>

THIS AGREEMENT is made the       day of               2002
                           ------       -------------

BETWEEN:

(1)  Baltimore Technologies (UK) Limited a company registered in England and
     Wales under number 1467453 whose registered office is at 1310 Waterside,
     Arlington Business Park, Theale, Reading Berks, RG7 4SA United Kingdom,
     facsimile number: 0044 118 9039055 (the "Seller");

(2)  Baltimore Technologies Limited a company registered in the Republic of
     Ireland under number 56736 whose registered office is at 39-41 Parkgate
     Street, Dublin 8, facsimile number 0044 118 9039055 ("BTL");

(3)  Baltimore Technologies plc a company registered in England and Wales under
     number 2643615 whose registered office is at 1310 Waterside, Arlington
     Business Park, Theale, Reading, Berks, RG7 4SA United Kingdom, facsimile
     number: 01442 266 438 (the "Seller's Guarantor"); and

(4)  AEP Systems International Limited a company registered in England and Wales
     under number 4479308 whose registered office is at Gomms Wood Lodge, Cherry
     Drive, Forty Green, Beaconsfield, Buckinghamshire, H9P 1XP; facsimile
     number: 00 353 1 204 1301 (the "Buyer").

RECITALS:

(a)  The Buyer wishes to acquire as a going concern and continue the Hardware
     Business.

(b)  The Seller has agreed to sell and the Buyer has agreed to purchase the
     Hardware Business on and subject to the terms of this Agreement.

(c)  The Trade Marks and the Baltimore Trade Marks are registered or applied for
     in the name of BTL and BTL is party to this Agreement for the purpose of
     transferring the legal rights in the Trade Marks to the Buyer and of
     licensing the Buyer to use the Baltimore Trade Marks.

IT IS AGREED:

1.   INTERPRETATION

In this Agreement, the following words and expressions have the meanings
respectively set opposite them.

"Accounts" means the management accounts of the Hardware Business as at and for
the period ended on the Balance Sheet Date, initialled for the purpose of
identification by or on behalf of the parties and set out at Appendix 1 hereto;

                                        4

<PAGE>

"Assets" means the assets of the Hardware Business agreed to be sold and
purchased pursuant to this Agreement as described in Clause 2 and does not
include, for the avoidance of doubt, any rights to the Baltimore TradeMarks
(other than the rights in such name and logo granted to the Buyer pursuant to
Clause 7.5 hereof);

"Balance Sheet Date" means 30 June 2002;

"Baltimore Trade Marks" means the trade marks listed in Schedule 12 hereto;

"Baltimore Licence" means the formal licence agreement in the agreed terms
between BLT and the Buyer;

"Business Contracts" means Supplier Contracts, IP Licences and the Leasing/Hire
Agreements;

"Business Information" means all information, know-how and techniques (whether
or not confidential and in whatever form held whether electronic or otherwise)
and wherever held which relates to: (i) all or any part of the Hardware Business
and/or the Assets; (ii) any products manufactured and/or sold or services
rendered by the Hardware Business; (iii) any formulae, designs, specifications,
drawings, data, manuals or instructions of or relating to the Hardware Business;
(iv) the operations, management, administration, or financial affairs of the
Hardware Business (including any business plans or forecasts, information
relating to future business development or planning and information relating to
litigation or legal advice); and (v) the sale or marketing of any of the
products manufactured and/or sold or services rendered by the Hardware Business,
including, but without limiting the generality of the foregoing words, all
customer names and lists, sales and marketing information (including but not
limited to targets, sales and market share statistics, market surveys and
reports on research) and all information held on the perforce server which is an
asset comprised within the Fixed Assets;

"Business Intellectual Property" means all intellectual property rights owned by
the Seller or any member of the Seller's Group in connection with the Hardware
Business as carried on at the Effective Date (including, without limiting the
generality of the foregoing words, the Trade Marks and such other items as are
specified in Part A of Schedule 1 ) but does not include, for the avoidance of
doubt, any rights to the Baltimore Trade Marks other than to the rights in such
marks granted to the Buyer pursuant to Clause 7.5 hereof);

"Business Day" means any day (except any Saturday or Sunday or a public holiday)
on which banks in the City of London are open for business;

"Buyer's Solicitors" means LK Shields, Solicitors of 39/40 Upper Mount Street,
Dublin 2;

"Buyer's Group" means the Buyer, its holding company and the other subsidiaries
and subsidiary undertakings from time to time of such holding company;

"Completion" means completion of the sale and purchase of the Hardware Business
pursuant to this Agreement in accordance with its terms;

"Completion Date" means 19 September    2002;
                                     --

                                        5

<PAGE>

"Customer Contracts" means the contracts, engagements or orders entered into on
or prior to the Completion Date by or on behalf of any member of the Seller
Group with customers for the sale, loan or hire of goods or equipment or
provision of services by the Seller in connection with and in the ordinary
course of the Hardware Business which at the Completion Date remain to be
performed in whole or in part by the Seller particulars of which are set out in
Schedule 2;

"Demised Premises" means the premises described in Schedule 3;

"Deed of Covenant" means a deed in the form set out in Schedule 4;

"Disclosure Letter" means the letter of the same date as this Agreement from the
Seller to the Buyer referred to in clause 10.2 and which includes, for the
avoidance of doubt, all the documents delivered to the Buyer with that letter as
annexures thereto;

"Effective Date" means the 1st September, 2002;

"Employees" means the persons listed in Schedule 5;

"Employment Statutes" means all binding decisions of regulatory authorities,
codes of conduct having binding effect, legislation (whether primary or
secondary) (whether of the United Kingdom, any part thereof, Holland or
elsewhere), including without limitation the Treaty establishing the European
Community and any directives made under the authority of that Treaty, relating
in any way to the employment of employees or other workers (whether individually
or collectively) or the terms on which they are employed and including, for the
avoidance of doubt, any such legislation relating to health and safety;

"Environment" means air (including, without limitation, air within buildings and
natural or man made structures above or below ground), water and land and any
living organisms or systems supported by those media;

"Environmental Laws" means all applicable laws (including common law) whether of
the United Kingdom or any part thereof, relating to pollution or protection of
the Environment or human health and safety and in force and binding upon the
Hardware Business at the date of this Agreement, including laws relating to
emissions, seepages, spillages, discharges, escapes, releases or threatened
escapes or releases of pollutants, contaminants, chemicals or toxic or hazardous
substances, wastes, materials or noise into the Environment or otherwise
relating to the manufacture, processing, distribution, use, keeping, treatment,
disposal, deposit, storage, transport or handling of the same;

"Excluded Liabilities" means all the liabilities or obligations relating to the
Hardware Business or the Assets and outstanding on or accrued or referable to
the period up to and including the Effective Date or arising by virtue of the
sale and purchase recorded by this Agreement, including but not limited to any
and all liabilities in respect of National Insurance, PAYE, VAT or other
Taxation attributable to the Seller in respect of the Hardware Business, the
Assets or the Employees in respect of the period ending on the Effective Date
and all bank and other overdrafts and loans owing by the Seller;

                                        6

<PAGE>

"Fixed Assets" all plant, machinery, tools, equipment and other chattels owned
by the Seller at the Effective Date for the purpose of the Hardware Business
which are set out at Schedule 6;

"Goodwill" means the goodwill, custom and connection of the Seller in relation
to the Hardware Business together with the exclusive right for the Buyer and its
successors and assigns to carry on the Hardware Business and to represent itself
as carrying on the Business in succession to the Seller and the right to use the
unregistered mark "ACCE";

"Hardware Business" means the business of the Seller in designing, developing
and marketing high security cryptographic hardware products, for use by finance,
Government and blue chip customers.

"IP Licences" means the licences, authorisations and permissions in place which
are (i) necessary in relation to the use, enjoyment and exploitation by the
Seller or any member of the Seller's Group of any Intellectual Property or
Business Information in connection with the Hardware Business as carried on at
the Completion Date particulars of which are set out at Part A of schedule 7,
and (ii) granted to any third party in relation to any Business Intellectual
Property or Business Information; full particulars of such IP Licences being set
out at Part B of schedule 7;

"ICTA 1988" means the Income and Corporation Taxes Act 1988;

"Intellectual Property" means patents (including supplementary protection
certificates), trade marks (including the Trade Marks), service marks,
registered designs, utility models, design rights, topography rights,
copyrights, inventions, trade secrets and other confidential information,
know-how, business or trade names and all other intellectual property and
neighbouring rights and rights of a similar or corresponding character in any
part of the world (whether or not the same are registered or capable of
registration) and all applications and rights to apply for or for the protection
of any of the foregoing;

"Inter-Company Debt" means any inter-company debt of any description owned by or
to any entity in the Seller's Group in respect of the Hardware Business;

"Lease" means the lease of the Demised Premises detailed in Schedule 3;

"Leasing/Hire Agreements" means the contracts, engagements or orders entered
into on or prior to the Completion Date by or on behalf of the Seller in
relation to the leasing, lease purchase, hire, hire purchase or conditional sale
of goods or equipment for use in and in the ordinary course of the Hardware
Business which on the Completion Date remain to be performed in whole or in part
particulars of which are set out in Schedule 8;

"Licence" means the licence, in the agreed terms, to occupy certain areas of
Innovation House;

"Licence List X" means the licence, in the agreed terms, to occupy the List X
area in Innovation House;

                                        7

<PAGE>

"Option Arrangement" means the amended option scheme in relation to the options
held by the Employees in the capital of the Seller's Guarantor set out at
Appendix 2;

"Recognised Revenues" means the total amount expressed in (pound) of invoices
raised and other revenues (net of VAT where applicable) recognised in accordance
with principles, standards and practices generally accepted in England at the
date of this Agreement from the following product lines in respect of the period
commencing on 1st September, 2002 and ending on 31 December, 2003 :-

(a)  SureWare Keyper (product and support revenue)
(b)  SureWare Net (product and support revenue)

"Records" means the books, accounts, lists of customers, credit reports, price
lists, cost records, work tickets, catalogues, advertising and all the other
documents, papers and records (however stored) (including VAT records and
records required to be kept under the Working Time Regulations, 1998) of the
Seller relating to the Hardware Business or any of the Assets; "Reseller
Agreement" means the distribution agreement in the agreed terms made between BTL
and the Buyer dated the date hereof;

"Seller's Group" means the Seller's Guarantor and its subsidiaries and
subsidiary undertakings from time to time;

"Seller's Schemes" means the group personal pension plans established with
Scottish Equitable under plan references 66863 and 2236, the Data Innovation
Pension Scheme and the Baltimore Technologies (UK) Limited pension scheme in
relation to death in service benefits:;

"Sellers Solicitors" Lovells of 50 Holborn Viaduct, London EC1A 2FG;

"Stock" means the stock-in-trade of the Hardware Business (whether owned or
under the control of the Seller or any other members of the Seller's Group) at
the Completion Date including (without limitation) raw materials, goods and
other assets purchased for resale, stores, component parts, work in progress,
together with finished products and packaging and promotional material, all of
which is owned or agreed to be bought by the Seller in connection with the
Hardware Business at the Completion Date (including any items which, although
subject to reservation of title, are under the control of the Seller) but not
including stocks held solely for promotional purposes for the purposes of the
Reseller Agreement;

"Stock Exchange" means London Stock Exchange plc;

"Supplier Contracts" means the contracts, engagements or orders entered into on
or prior to the Completion Date by or on behalf of the Seller for the supply or
sale of goods or services to the Seller (including all arrangements relating to
the provision of maintenance and support, security, disaster recovery,
facilities management, bureau and on-line services to the Hardware Business ) in
connection with and in the ordinary course of the Hardware Business particulars
of which are set out in Schedule 9;

                                        8

<PAGE>

"Support Agreement" the support agreement in the agreed terms between the Buyer
and the Seller in respect of the transmission of hardware support, and in
particular the provision of level 3 support dated the date hereof;

"Sureware Licence" means the formal licence agreement in the agreed terms
between the Buyer and BTL in respect of the Trade Marks;

"Tax" or "Taxation" menas all taxes, levies, duties, imposts, charges and
withholdings of any nature whatsoever or wheresoever imposed and all penalties,
charges and interest relating thereto;

"Trade Marks" means the UK, European Community and U.S. trade mark applications
and registrations of the Seller used solely in the Hardware Business, further
details of which are included in Schedule 1 hereto together with the
unregistered mark "ACCE";

"Trade Mark Assignments" means the assignments of the Trade Marks to the Buyer
in the agreed terms;

"Transitional Services Agreement" means the agreement in the agreed terms
between the Seller, certain member of the Seller's Group and the Buyer in
relation to certain arrangements post Completion and in relation to IT and
administration Services dated the date hereof;

"VAT" means value added tax;

"VATA" means the Value Added Tax Act 1994;

"Warranties" means the warranties, representations and undertakings set out in
Schedule 10;

"(pound)" means pounds sterling, the lawful currency of the United Kingdom.

In this Agreement, unless the context otherwise requires:

(a)  references to this Agreement or any other document include this Agreement
     or such other document as varied, modified or supplemented in any manner
     from time to time;

(b)  references to any party shall, where relevant, be deemed to be references
     to or to include, as appropriate, their respective permitted successors,
     assigns or transferees;

(c)  references to recitals, clauses and schedules and sub-divisions of them are
     references to the recitals and clauses of, and schedules to, this Agreement
     and sub-divisions of them respectively;

(d)  references to any enactment include references to such enactment as
     re-enacted, amended or extended on or before the date of this Agreement and
     any subordinate legislation made from time to time under it;

(e)  references to a "person" include any individual, company, corporation,
     firm, partnership, joint venture, association, organisation, institution,
     trust or agency, whether or not having a separate legal personality;

                                        9

<PAGE>

(f)  references to the one gender include all genders, and references to the
     singular include the plural and vice versa;

(g)  any reference to indemnifying any person against any circumstance includes
     indemnifying and holding that person harmless from all actions, claims,
     demands and proceedings of any nature from time to time made against that
     person and all losses, damages, payments, awards, costs or expenses made,
     suffered or incurred by that person as a consequence of, or which would not
     have arisen but for, that circumstance;

(h)  headings are inserted for convenience only and shall be ignored in
     construing this Agreement; and

(i)  the words "company", "subsidiary", "subsidiary undertaking" and "holding
     company" have the meanings given to them by the Companies Act 1985 as
     amended by the Companies Act 1989.

     1.2  The Recitals, Schedules and Appendices to this Agreement form part of
          it.

     1.3  Any reference in this Agreement to a document being "in the agreed
          terms" is to a document in the terms agreed between the parties and
          for identification purposes only signed or initialled by them or on
          their behalf on or before the date of this Agreement.

2.   SALE AND PURCHASE OF THE HARDWARE BUSINESS

2.1  The Seller shall with full title guarantee sell and transfer or procure the
     sale and transfer (which expression shall where appropriate include an
     assignment or novation) of the Hardware Business to the Buyer and the Buyer
     shall buy the Hardware Business with effect from the Completion Date as a
     going concern together with the following Assets:

     (a)  the Goodwill;

     (b)  the Fixed Assets;

     (c)  the Stock;

     (d)  the benefit (subject to the burden) of the Business Contracts;

     (e)  the Business Intellectual Property;

     (f)  the Business Information;

     (g)  the beneficial interest in the Trade Marks;

     (h)  the Records;

                                       10

<PAGE>

     (i)  all the Seller's rights against third parties including all rights
          under any of the warranties, conditions, guarantees or indemnities or
          under the Sale of Goods Act 1979 relating to any of the Assets and the
          benefit of all sums to which the Seller is entitled from third parties
          or insurers in respect of damage to the Assets; and

     (j)  all (if any) other assets, property or rights (whether owned or
          controlled by the Seller or another member of the Seller's Group)
          relating to or connected with or belonging to or required for or used
          in the Hardware Business and which are not described in the foregoing
          clauses.

2.2  BTL as owner of the legal interest in the Trade Marks and with full title
     guarantee shall sell and transfer or procure the sale and transfer (which
     expression shall include an assignment) of its legal interest in the Trade
     Marks to the Buyer and the Buyer shall accept such legal interest in the
     Trade Marks with effect from the Completion Date. It is acknowledged by BTL
     that the Buyer may pay the consideration for such assignment to the Seller
     in accordance with Clause 3 hereof.

2.3  The Seller covenants that the Hardware Business and the Assets (and BTL
     covenants that the Trade Marks) shall be sold free from all claims,
     charges, liens, encumbrances, equities and adverse rights of any
     description and together with all rights now or hereafter attaching to them
     and the covenants implied by sections 2 and 3 of the Law of Property
     (Miscellaneous Provisions) Act 1994 shall be deemed modified accordingly.

2.4  The Seller hereby represents to the Buyer that the Seller has no further
     liabilities to the Lloyds Bank plc under or secured by the charges dated
     4/10/1998 and 28/3/1990 which appear on the file of the Seller at Companies
     House and hereby covenants and undertakes with the Buyer to procure that an
     unconditional release thereof is executed by Lloyds Bank plc within 28 days
     of the date hereof and to indemnify and keep the Buyer indemnified against
     all costs, losses, damages, expenses or liabilities of whatever nature
     howsoever arising in connection with the aforesaid charges.

3.   CONSIDERATION

3.1  The total consideration payable by the Buyer to the Seller shall be,
     subject to adjustment in accordance with this Agreement, a maximum of
     (pound)4,000,000 to be paid as follows:

          (a)  (pound)2,700,000 in cash on Completion in accordance with Clause
               5.4 (i) hereof.
          (b)  (pound)300,000 to be paid 12 months from Completion less any
               claims made under Clause 9 ( warranties) to be paid in accordance
               with Clause 5.5 hereof.
          (c)  A sum which shall not exceed a maximum of (pound)1,000,000 and
               which (subject to Clause 3.2 below) shall be payable on 4th
               February, 2004 in accordance with Clause 5.5 hereof and shall be
               equal to the following:
               (i)  the sum of (pound)500,000 in the event that Recognised
                    Revenues are greater than or equal to (pound)5,000,000 and
                    less than (pound)6,000,000;
               (ii) the sum of (pound)700,000 in the event that Recognised
                    Revenues are greater than or equal to (pound)6,000,000 and
                    less than (pound)7,000,000;

                                       11

<PAGE>

               (iii) the sum of (pound)800,000 in the event that Recognised
                    Revenues are greater than or equal to (pound)7,000,000 and
                    less than (pound)8,500,000; and
               (iv) the sum of (pound)1,000,000 in the event that Recognised
                    Revenues are greater than or equal to (pound)8,500,000.

3.2  No sums shall be payable pursuant to Clause 3.1 (c) above in the event that
     there has been any material breach of the Reseller Agreement by the Seller
     which has not been remedied in accordance with any applicable grace periods
     provided for under the terms of the Reseller Agreement.

3.3  Title to each of the Assets shall pass to the Buyer on Completion.

3.4  The sale and purchase of each of the Assets is interdependent and shall be
     completed simultaneously.

4.   ASSETS AND LIABILITIES NOT INCLUDED IN THE SALE

4.1  The following are expressly excluded from the sale and purchase of the
     Hardware Business and Assets:-

          (a)  Excluded Liabilities
          (b)  All of the Seller's cash in hand.

4.2  Nothing in this Agreement shall pass to the Buyer, or shall be construed as
     acceptance by the Buyer of any liability debt or obligation of the Seller
     other than as expressly set out in the Agreement and the Seller hereby
     agrees to indemnify and keep the Buyer indemnified against any and all
     claims, liabilities, costs and expenses howsoever arising in connection
     with any liabilities under any contracts or commitments of any nature of or
     relating to the Hardware Business or the Assets in respect of the period up
     to and including Completion.

5.   COMPLETION

5.1  Completion shall take place at the offices of the Seller's Solicitors on
     the Completion Date or at such other place and/or on such earlier date as
     may be agreed between the parties.

5.2  On or before Completion the Seller shall procure and the Buyer shall permit
     that:

     (a)  all loans and debts due to any member of the Seller's Group in respect
          of or in relation to the Hardware Business from, and all loans and
          debts due from any member of the Seller's Group in respect of or in
          relation to the Hardware Business to, the Seller and every other
          entity in the Seller's Group shall be repaid or paid in full;

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     (b)  all loans due to any member of the Seller's Group in respect of or in
          relation to the Hardware Business from, and all loans due from any
          member of the Seller's Group in respect of or in relation to Hardware
          Business to, directors or employees of any member of the Seller's
          Group in respect of or in relation to the Hardware Business shall be
          repaid in full;

     (c)  all salaries, directors' fees, expenses and bonuses (if any) of all
          directors and employees of the Seller engaged in or employed in
          respect of the Hardware Business shall be paid up to the Completion
          Date including any pro-rated amounts for the period up to the
          Effective Date.

5.3  On Completion the Seller shall cause to be delivered to the Buyer:

     (a)  certified minutes of the meetings of the board of directors of the
          Seller and the Sellers Guarantor approving the transactions contained
          in this Agreement to which they are party and the documents referred
          to herein and authorising the execution thereof by the Seller and the
          Sellers Guarantor (as the case may be).

     (b)  physical possession of all the Assets capable of passing by delivery
          with the intent that title in such Assets shall pass by and upon such
          delivery;

     (c)  duly executed agreements in the agreed terms for the assignment or
          novation of the benefit of the Business Contracts to the Buyer, or as
          the Buyer shall direct, and all requisite consents and licences
          therefor;

     (d)  a duly executed assignment in the agreed terms to vest the the
          Goodwill in the Buyer or as the Buyer shall direct;

     (e)  all documents of title and certificates for the lawful operation and
          use of, and all service documents pertaining to, the Fixed Assets and
          the Stock;

     (f)  duly executed Trade Mark Assignments, Baltimore Licence and Sureware
          Licence in the agreed terms of the Business Intellectual Property;

     (g)  all documents of title, certificates, deeds, licences, agreements and
          other documents relating to the Business Intellectual Property and all
          manuals, drawings, plans, documents and other materials and media on
          which the Business Information is recorded;

     (h)  the Business Contracts and the books, accounts, reference lists of
          customers, credit reports, price lists, cost records, work tickets,
          catalogues, advertising and all other documents, papers and records in
          the possession or under the control of the Seller relating to the
          Hardware Business or any of the Assets duly written up to the
          Completion Date;

     (i)  all files and documentation in relation to the Trade Marks including
          those of advisers to include correspondence from and to any Trade Mark
          Registry and any searches or search results;

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<PAGE>

     (j)  the Records;

     (k)  subject to the terms of this Agreement and the Transitional Services
          Agreement, a written acknowledgement executed as a deed from the
          Seller that all arrangements to which the Seller is a party and which
          affect the Hardware Business or Assets other than the Business
          Contracts have been cancelled by mutual agreement and without any
          compensation or damages being payable by either party to the other;

     (l)  all National Insurance PAYE records fully completed in respect of the
          Employees and showing that payments are up to date;

     (m)  the duly executed Transitional Services Agreement;

     (n)  the duly executed Lease;

     (o)  all necessary licences permits authorisation or authorities (public or
          private) to enable the Seller to carry on the Hardware Business as
          currently carried on and in accordance with law;

     (p)  the duly executed Trusted World Partnership Agreement between BTL and
          AEP Systems Limited in the agreed terms;

     (q)  the duly executed Licence and Licence List X;

     (r)  the duly executed Deed of Covenant.

     (s)  the duly executed Reseller Agreement.

5.4  On Completion the Buyer shall, following compliance by the Seller with the
     foregoing provisions in consideration for the sale of the Hardware
     Business:

     (i)  pay the sum of (pound)2,700,000 into the account of Seller's
          Solicitors at Barclay's Bank PLC, Sort Code 20 00 00, account number
          106 109 84;

     (ii) deliver to the Seller's Solicitors the minutes of the board of
          directors of the Buyer approving the transactions contained in this
          Agreement to which it is party and the documents referred to herein
          and authorising the execution thereof by the Buyer;

     (iii) Deliver to the Seller's Solicitors a duly executed Trade Marks
          Assignment, Baltimore Licence and Sureware Licence in the agreed
          terms.

     (iv) Deliver to the Seller's Solicitors the Seller's copies of the duly
          executed (i) assignment or novation of the Business Contracts, (ii)
          assignment of the Business Intellectual Property; (iii) Transitional
          Services Agreement, (iv) Lease, (v) Licence, (vi) Deed of Covenant,
          (vii) Reseller Agreement, (viii) Licence List X and (ix) a Guarantee
          in respect of the sum payable pursuant to Clause 3.1(b) hereof; and
          the Trusted World Partnership Agreement referred to at Clause 5.3(p)
          above.

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<PAGE>

5.5  Any other payments made pursuant to Clause 3.1(b) and (c) shall be made to
     the account referred to at 5.4 (i) above.

6.   COMPLETION STOCKTAKE AND ARRANGEMENTS FROM THE EFFECTIVE DATE UNTIL
     COMPLETION

6.1  Without prejudice to the generality of Clause 4.2 hereof, the Buyer shall
     from the commencement of business on the day after the Effective Date pay
     all moneys, wages, rent, expenses and outgoings accruing or incurred from
     that date in respect of the Hardware Business. All taxes payable in respect
     of the conduct of the Hardware Business by the Buyer after Completion shall
     be borne by the Buyer. The Buyer shall be responsible for National
     Insurance Contributions and PAYE falling due for payment after the
     Effective Date and shall be liable for no other taxes after the Effective
     Date and up to and including Completion. Such outgoings and payments shall
     if necessary be apportioned accordingly.

6.2  All rents, royalties, payments in respect of invoices and all other
     revenues and periodical payments of any kind whatsoever receivable in
     respect of the Hardware Business up to the Effective Date (save for
     revenues in respect of sales made by the Seller after the Effective Date)
     shall belong to and be payable to the Seller and thereafter shall belong to
     and be payable to the Buyer. Such receivables shall if necessary be
     apportioned accordingly (save for revenues in respect of sales made by the
     Seller after the Effective Date). If any sales of products or services of
     the Hardware Business have been made by the Seller on or after the
     Effective Date and up to and including Completion, the Buyer shall be
     entitled to raise a corresponding invoice in respect thereof on BTL under
     the Reseller Agreement to the intent that such products and services shall
     be deemed to have been sold to BTL by the Buyer under the Reseller
     Agreement and BTL shall discharge any amounts due in respect thereof in
     accordance with the terms of the Reseller Agreement.

6.3  Where any amounts are to be apportioned under this Agreement, the Seller
     and/or the Buyer (as the case may be) shall provide the Buyer and/or the
     Seller, as appropriate, with full details of the apportionments, together
     with supporting vouchers or similar documentation, and in the absence of
     dispute the appropriate payment shall be made by or to the Seller
     forthwith. If the amount of any apportionment is in dispute, the provisions
     of clause 6.4 shall apply for resolving the dispute and the amount
     determined in accordance with that clause shall be paid within 14 days of
     the date of determination.

6.4  If the Buyer or the Seller, as the case may be, disputes any apportionment
     provided under clause 6.3, the Seller or the Buyer (as the case may be) may
     give notice to the other that a dispute exists (a "Dispute Notice"). Such
     Dispute Notice shall specify:-

     (i)  the items, which are disputed; and
     (ii) the reasons therefore.

     If the parties resolve the dispute within 14 Business Days of the date of
     the Dispute Notice, the relevant amounts shall be paid no later than the
     expiration of such period. If, however, the parties have not resolved the
     dispute within 14 Business Days of the date of receipt of the Dispute
     Notice by the relevant party, the following provisions shall

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<PAGE>

     apply. Either the Buyer or the Seller may refer the dispute to an
     independent firm of chartered accountants of repute agreed by the parties,
     and if the parties cannot agree on such a firm, then an independent firm of
     chartered accounts, nominated by the President for the time being of the
     Institute of Chartered Accountants in England and Wales (the "Expert") with
     a request that the Expert make a decision on the dispute within ten
     Business Days of receiving the reference. In any reference, the Expert
     shall act as an expert and not as an arbitrator. The decision of the Expert
     shall, in the absence of manifest error, be final and binding on both
     parties. The Buyer and the Seller will give all reasonable assistance,
     documents, any explanations and procure that all necessary parties
     co-operate with the Expert to enable the Expert arrive at his
     determination. The costs of the Expert shall be borne as the Expert
     directs.

7.   INTELLECTUAL PROPERTY

7.1  In the event that the Seller discovers that the Hardware Business owns any
     Intellectual Property which has, in the eighteen months prior to
     Completion, been used exclusively or mainly by a member of the Seller's
     Group and the parties agree, acting reasonably, that such Intellectual
     Property has been inadvertently sold or transferred to the Buyer hereunder
     and is not required to enable the Buyer to carry on the Hardware Business
     as carried on up to the date hereof by the Seller, the Buyer agrees to
     procure, at the option of the Seller, that such Intellectual Property or
     such application or registration is transferred to the Seller or a company
     nominated by the Seller for nominal consideration, or that a non-exclusive,
     perpetual, worldwide, assignable, irrevocable, royalty-free licence (with
     the right to sub-licence) for the use thereof by the Seller or a company
     nominated by the Seller is granted for nominal consideration.

7.2  In the event that the Buyer discovers that the Hardware Business has not
     acquired any Intellectual Property which has, in the eighteen months prior
     to Completion, been used exclusively or mainly by the Seller for the
     purposes of the Hardware Business and the parties agree, acting reasonably,
     that such Intellectual Property has inadvertently not been sold or
     transferred to the Buyer hereunder and is required to enable the Buyer to
     carry on the Hardware Business as carried on up to the date hereof by the
     Seller, the Seller agrees to procure, at the option of the Buyer, that such
     Intellectual Property or such application or registration is transferred to
     the Buyer or a company nominated by the Buyer for nominal consideration or
     that a non-exclusive, perpetual, worldwide, assignable, irrevocable,
     royalty-free licence (with the right to sub-licence) for the use thereof by
     the Buyer or a company nominated by the Buyer is granted for nominal
     consideration.

7.3  The Seller, with effect from Completion, hereby grants to the Buyer a
     non-exclusive, worldwide, irrevocable, royalty-free licence (with the right
     to transfer and/or sub-licence to any member of the Buyer's Group and,
     subject to the prior written consent of the Seller, to other parties) to
     use any Intellectual Property owned by a member of the Seller's Group which
     has been used (but not exclusively) in the twelve months prior to
     Completion in the Hardware Business. Such licence shall be without limit in
     time but may be terminated by the Seller if the Buyer or a licensee or
     transferee of the Buyer purports to transfer or sublicence any such
     Intellectual Property otherwise than as permitted under this clause 7.3
     save that this right of termination will not apply if the

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<PAGE>

     Buyer transfers or sublicences its rights to a third party which is not a
     member of the Buyer's Group with the prior written consent of the Seller in
     accordance with the terms of this Clause.

7.4  Save only as provided for in Clause 7.5 below and in any formal licence
     agreement entered into pursuant thereof, the Buyer shall not have or
     otherwise obtain any rights to or use of the Baltimore Trade Marks and all
     statements and warranties regarding the transfer, licence or use of any
     Assets or Business Intellectual Property shall be interpreted accordingly.

7.5  The Seller, with effect from Completion, grants to the Buyer a
     non-exclusive, worldwide, royalty free licence to use the Baltimore Trade
     Marks or the Baltimore logo on Stock for a period of six months from
     Completion and to use the Baltimore Trade Marks indefinitely in the case of
     the Records for the purposes of using and exploiting the Records and the
     Stock.

7.6  The Buyer with effect from Completion grants to the Seller a non exclusive
     world wide royalty free licence for a period of three months from
     Completion (unless terminated in accordance with the provisions of this
     Agreement) to continue to use any documentation which it has in its
     possession at Completion which refers to or contains the Trade Marks. The
     Seller shall after the expiration such three month period cease to use all
     documentation which contain or refer to any of the Trade Marks save as
     expressly authorised by the Reseller Agreement.

8.   NOVATION

8.1  In so far as any of the Business Contracts are not assignable to the Buyer
     without the agreement of or novation by or consent to the assignment from
     another party this Agreement shall not constitute an assignment or
     attempted assignment if such assignment or attempted assignment would
     constitute a breach of such Business Contracts. In the event that consent
     or novation is required to such assignment the Seller shall at the Buyer's
     request procure such novation or assignment as aforesaid and unless or
     until any such contract shall be novated or assigned the Buyer shall on
     behalf of the Seller perform the obligations of the Seller thereunder in so
     far as such obligations relate to the period after the Completion Date and
     shall hold the benefit of such contract and all revenues received
     thereunder in trust for the Buyer.

8.2  If such consent or novation is refused or otherwise not obtained on terms
     reasonably satisfactory to the Buyer within 90 Business Days of the
     Completion Date the Buyer shall be entitled at its sole discretion to
     require the Seller to serve proper notice to terminate that Business
     Contract and the Seller shall indemnify and keep indemnified the Buyer from
     and against all losses, damages, costs, actions, proceedings, claims,
     demands, liabilities and expenses (including, without limitation, legal and
     other professional fees and expenses) which the Buyer may suffer, sustain,
     incur, pay or be put to by reason or on account of or arising from the
     termination of such Business Contract.

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<PAGE>

8.3  To the extent that any payment is made to the Seller in respect of the
     Business Contracts on or after the Effective Date the Seller shall receive
     the same as trustee, shall record such payment separately in its books and
     shall account to the Buyer for the same on the Effective Date or if
     received thereafter within seven Business Days of receipt.

8.4  The Seller hereby convenants and agrees with the Buyer that, subject to the
     Buyer indemnifying the Seller to its reasonable satisfaction against all
     costs, expenses or liabilities which may be suffered or incurred by the
     Seller in connection with the proper performance of its obligations set out
     in this Clause and paying and continuing to pay the amount of any such
     expenses on an interim basis as they are incurred as the Buyer may
     reasonably require, in the event any person who owes a confidentiality
     obligation to the Seller or any member of the Seller's Group in connection
     with the Hardware Business (whether pursuant to a non disclosure agreement
     or otherwise) and such person, in the opinion of the Buyer breaches such
     confidentality obligation, the Seller shall or shall procure that the
     relevant member of the Seller's Group shall take all steps reasonably
     required by the Buyer to enforce their rights against such persons which
     shall include for the avoidance of doubt bringing legal proceedings against
     such parties and doing all acts and things necessary in relation to such
     proceedings provided always that the Buyer will conduct the proceedings and
     provided further that the Seller shall not be obliged to take any action,
     or procure any member of the Seller's Group to take any action, which it
     reasonably considers will or is likely to be detrimental to its commercial
     interests (or the commercial interests of any member of the Seller's Group)
     in any material respect.

9.   VAT

9.1  The Seller and the Buyer intend that the sale of the Hardware Business
     pursuant to this Agreement shall be treated as a transfer of part of the
     business of the Seller as a going concern for the purposes of section 49 of
     the VATA and Article 5 of the Value Added Tax (Special Provisions) Order
     1995 and shall be treated as neither a supply of goods nor a supply of
     services for the purposes of the VATA.

9.2  The consideration payable by the Buyer to the Seller is exclusive of VAT.
     If notwithstanding the provisions referred to above any VAT shall be
     chargeable on the sale of the Hardware Business, the Buyer shall pay to the
     Seller such VAT, the Buyer to make such payment forthwith on delivery by
     the Seller to the Buyer of a valid VAT invoice in respect thereof together
     with an amount equal to any fine, penalty, charge, surcharge or interest
     incurred by the Seller for late payment thereof or delay in accounting
     therefore on demand, if later, where the payment of such amount is
     attributable to the conduct of the Buyer.

9.3  The Buyer undertakes and warrants to the Seller:

     (a)  that it intends to use and shall use the Assets to carry on the same
          kind of business as that carried on by the Seller using the Assets
          prior to the date hereof with effect from Completion on its own
          account and neither as agent nor nominee of any other person; and

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<PAGE>

     (b)  that it is and will at Completion be duly registered under the VATA or
          if this is not the case it has made the appropriate application on or
          before Completion to be so registered.

10.  WARRANTIES

10.1 The Seller hereby represents, warrants and undertakes to the Buyer as at
     the date hereof in the terms of the Warranties and acknowledges that the
     Buyer is entering into this Agreement in reliance on the Warranties.

10.2 The Warranties are given subject to any fact, matter or circumstance fully,
     fairly and accurately disclosed in the Disclosure Letter.

10.3 Each of the Warranties set out in each paragraph and each paragraph of
     Schedule 10 shall be separate and independent and shall not be limited by
     reference to any other paragraph or anything in this Agreement, the
     Schedules or the Appendices.

10.4 Where any statement set out in Schedule 10 is expressed to be given or made
     to the best of the Seller's knowledge or is qualified by reference to the
     Seller's awareness or is qualified in some other manner having
     substantially the same effect, such statement shall be deemed to include a
     warranty that such statement, representation, warranty or undertaking has
     been made after due and careful enquiry and any information which after due
     and careful enquiry would have been known by the board of directors of the
     Seller shall be deemed to be known by the Seller.

10.5 The Seller agrees with the Buyer for itself and as trustee for the Buyer as
     successor in title to the Hardware Business and the Seller's respective
     officers and employees engaged in or employed in the Hardware Business that
     it will not exercise any of its rights, remedies or claims which it has or
     may have in respect of any misrepresentation in or omissions from any
     information or advice supplied or given by such officers or employees and
     on which the Seller has relied in giving the Warranties, preparing the
     Disclosure Letter and/or entering into this Agreement and/or the documents
     referred to herein, save where such officers or employees acted
     fraudulently.

10.6 The Buyer confirms that there are no matters of which it is actually aware
     which constitute a breach of the Warranties and will give rise to a claim
     hereunder and for this purpose, the Buyer will be deemed to be aware of any
     matters of which Pat Donnellan, Chris Meehan and JD Buckley are actually
     aware. Subject to the foregoing sentence, the Warranties are qualified only
     by matters fully, fairly and accurately disclosed in the Disclosure Letter,
     but no other information of which the Buyer has constructive knowledge
     shall prejudice any claim by the Buyer under the Warranties or operate to
     reduce any amount recoverable thereunder.

10.7 In the event of a breach of any of the Warranties or any of them proving to
     be untrue or misleading in any respect then without prejudice to the right
     of the to Buyer claim damages on any basis available to it or to any other
     right or remedy available to the Buyer, the Seller agrees to pay on demand
     in cash to the Buyer the aggregate of a sum by way of damages as agreed
     between the Seller and the Buyer or (in default of such

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<PAGE>

     agreement) as determined by order of a court of competent jurisdiction
     which is the higher of:

     (a)  an amount sufficient to put the Hardware Business into the position
          which would have existed if the Warranties had been true or not
          misleading when given; and
     (b)  an amount equal to the diminution thereby caused in the value of the
          Assets,

     together with all costs and expenses incurred by the Buyer or the Hardware
     Business directly as a result of such breach.

10.9 All sums payable by the Seller to the Buyer for breach of any of the
     Warranties shall be paid free and clear of all deductions or withholdings
     whatsoever, save only as may be required by law.

10.10 The Seller hereby covenants and undertakes with the Buyer to indemnify the
     Buyer and keep the Buyer indemnified against all costs, losses, expenses,
     damages or liabilities howsoever arising as a result of:-

     (i)  the amount of Stock as set out in the list of stock set out at
          Schedule 11 hereto not being the same as the amount of Stock purchased
          hereunder on Completion (but taking account of sales made by the
          Seller prior to Completion in accordance with Clause 6.2 hereof);

     (ii) the Buyer not acquiring title of the nature referred to in clause 2.1
          and 2.3 hereof to the Stock purchased hereunder;

     (iii) the Fixed Assets purchased hereunder not including all items set out
          in the asset register set out at Schedule 6 ; and

     (iv) the Buyer not acquiring title of the nature referred to in clause 2.1
          and 2.3 hereof to the Fixed Assets purchased hereunder.

     provided that the Seller's total maximum liability under this clause shall
     in no event exceed (pound)2,700,000.

10.11 Any payment by the Seller pursuant to the Warranties or any indemnities
     under the terms of this Agreement shall be deemed to be a reduction of the
     consideration paid hereunder.

11.  LIMITATION ON CLAIMS

11.1 Notwithstanding anything in this Agreement to the contrary, the provisions
     of this clause 11 shall operate to limit the liability of the Seller in
     respect of any claim by the Buyer for any breach of or inaccuracy in the
     Warranties save where the claim arises in consequence of the fraud or
     fraudulent misrepresentation on the part of the Seller.

11.2 The Seller shall have no liability in respect of any breach of any of the
     Warranties unless the Buyer has served on the Seller a written notice on or
     before 12 months from

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<PAGE>

     completion giving such details are available of the claim including the
     Buyer's best estimate of the amount of the Seller's liability in respect
     thereof.

11.3 The liability of the Seller in respect of any claim by the Buyer for any
     breach of, or inaccuracy in, the Warranties shall absolutely determine (if
     such claim has not been previously satisfied, settled or withdrawn) if
     legal proceedings in respect of such claim shall not have been commenced
     within nine months of the service of such notice and for this purpose
     proceedings shall not be deemed to have been commenced unless they shall
     have been properly issued and validly served upon the Seller.

11.4 No claim shall be made in respect of any breach of any of the Warranties in
     this Agreement (each a "Warranty Claim"):

     (a)  where the liability for any individual claim (or what would be such
          liability apart from this paragraph) is less than (pound)1000; and
     (b)  unless the aggregate amount of all such claims in excess of
          (pound)1000 exceeds (pound)10,000 and thereafter the full amount of
          all claims shall then be payable.

11.5 The total aggregate amount of the Seller's liability in respect of any
     Warranty Claim or Claims shall be (in the absence of fraud) limited to and
     shall in no event exceed (pound)300,000.

11.6 The Seller shall not be liable in respect of any Warranty if and to the
     extent that the loss occasioned thereby has been recovered under any other
     Warranty.

11.7 If the Seller pays at any time to the Buyer an amount pursuant to a claim
     in respect of the Warranties or under or in connection with this Agreement
     and the Buyer subsequently becomes entitled to recover from some other
     person any sum in respect of any matter giving rise to such claim, the
     Buyer shall take all reasonable steps to enforce such recovery, and shall
     forthwith, following such recovery, repay to the Seller so much of the
     amount paid by the Seller to the Buyer as does not exceed the net sum
     actually recovered from such other person having deducted all referable
     costs and expenses.

11.8 The Buyer shall take all reasonable action to mitigate any loss suffered by
     it in respect of which a claim could be made under the Warranties.

11.9 The Buyer shall or shall procure that, upon the Buyer becoming aware of any
     claim, action or demand against it or matter likely to give rise to any of
     these in respect of the Warranties or under or in connection with this
     Agreement, the Buyer shall:

     (i)  as soon as reasonably practicable, notify the Seller by written notice
          as soon as it appears to the Buyer that the Seller is or may become
          liable under the Warranties or under or in connection with this
          Agreement for any assessment or claim of a third party received by or
          coming to the notice of the Buyer;

     (ii) subject to the Seller indemnifying the Buyer against any liability,
          costs, damages or expenses which may be incurred thereby and paying
          and continuing to pay, following receipt of an invoice for the same,
          the amount of any such expenses on an interim basis as they are
          incurred as the Buyer may reasonably require, take

                                       21

<PAGE>

          such reasonable action and give such information and access to
          personnel, premises, chattels, documents and records to the Seller and
          their professional advisers as the Seller may reasonably request,
          provided that the Buyer shall not be obliged to take any action which
          it reasonably considers will or is likely to be detrimental to its
          commercial interests with respect to the Hardware Business in any
          material respect;

     (iii) at the request of the Seller, allow the Seller to take the sole
          conduct of such actions as the Seller may reasonably deem appropriate,
          not being an action the Buyer reasonably considers will be detrimental
          to its commercial interests with respect to the Hardware Business in
          any material respect, in connection with any such assessment or claim
          in the name of the Buyer and in that connection the Buyer shall give
          or cause to be given to the Seller all such assistance as the Seller
          may reasonably require in avoiding, disputing, resisting, settling,
          compromising, defending or appealing any such claim and shall, at the
          Seller's expense, instruct such solicitors or other professional
          advisers as the Seller may nominate to act on behalf of the Buyer, as
          appropriate, but to act in accordance with the Seller's sole
          instructions;

     (iv) make no admission of liability, agreement, settlement or compromise
          with any third party in relation to any such claim or adjudication
          without the prior written consent of the Seller, such consent to not
          be unreasonably withheld and for the avoidance of doubt such consent
          shall be deemed to be reasonably withheld if the Buyer reasonably
          considers that the Seller's failure to give such consent will or is
          likely to be detrimental to the Buyer's commercial interests with
          reference to the Hardware business in any material respect.

12.  EMPLOYEES AND PENSIONS

12.1 The parties consider the transaction contemplated by this Agreement to
     constitute the transfer of an undertaking for the purposes of the Transfer
     Regulations and agree that the contracts of employment of the Employees
     will have effect from Completion as if originally made between the Buyer
     and the Employees (except in respect of pension arrangements).

12.2 The Seller agrees to indemnify and keep indemnified the Buyer against all
     losses, costs, liabilities, expenses, actions, proceedings, claims and
     demands arising out of or in connection with :-

     (a)  any liability in respect of any event or occurrence prior to
          Completion for which the Buyer may be held liable for any reason
          whatsoever in connection with the Employees' employment in the
          Hardware Business by the Seller or a member of the Seller's Group
          including without limitation any liability in respect of the Employees
          arising as a result of or incurred by the Seller by virtue of any
          previous business transfer, any claim arising out of or in connection
          with any change in the terms of the Employees' employment following
          any previous business transfer or any failure to inform or consult the
          Employees or any other

                                       22

<PAGE>

          person or their respective representatives in respect of any previous
          business transfer or any other provision of applicable Employment
          Statutes, and;

     (b)  any claim by any person other than an Employee relating to that
          person's employment with the Hardware Business or the termination
          thereof; and

     (c)  any claim by any Employee or any other person relation to the persons
          employment in the Hardware Business with the Seller or relevant member
          of the Seller's Group that any such person are entitled to share
          options, participation in profit sharing or bonus schemes of any
          nature which differ from the Option Arrangement whether such
          entitlement arises pursuant to the Transfer Regulations or otherwise.

     (d)  any remuneration or emoluments of the Employees which have not been
          fully, fairly and accurately disclosed to the Buyer in the Disclosure
          Letter.

     provided that the Seller's total maximum liability pursuant to paragraph
     (d) above shall in no event exceed (pound)2,700,000.

12.3 The Buyer shall indemnify and keep indemnified the Seller against all
     losses, costs, liabilities, expenses, actions, proceedings, claims and
     demands arising out of or in connection with any claim by an Employee
     (whether in contract or in tort or under statute (including the Treaty
     establishing the European Community and any directives made under the
     authority of that Treaty) for any remedy including for breach of contract,
     unfair dismissal, redundancy, statutory redundancy, equal pay, sex, race or
     disability discrimination, unlawful deductions from wages, a protective
     award or under the National Minimum Wage Act 1998 or the Working Time
     Regulations 1998 or for breach of statutory duty or of any other nature) as
     a result of anything done or omitted to be done by the Buyer after
     Completion but save to the extent that any such claim or claims arise in
     whole or in part as a consequence of acts or omissions of the Seller at or
     prior to Completion.

12.4 For the avoidance of doubt, the Buyer accepts that it shall be solely
     responsible for any amounts becoming payable to the Employees under the
     Employment Rights Act 1996 as a result of their being dismissed by the
     Buyer, at any time after Completion, notwithstanding that such amount is
     calculated under that Act by reference to periods of employment with the
     Seller or the relevant member of the Seller's Group as well as the period
     of employment with the Buyer excluding any constructive dismissal to the
     extent caused or occasioned in whole or in part by acts or omissions of the
     Seller at or prior to Completion.

12.5 The Seller shall indemnify and keep indemnified the Buyer against all
     losses, costs, liabilities, expenses, actions, proceedings, claims and
     demands arising out of or in connection with any failure by the Seller to
     comply with its obligations under Regulations 10(2) and 10(5) of the
     Transfer Regulations save where the Buyer has failed to provide the
     requisite information pursuant to such Regulations.

12.6 The Buyer shall procure that within one month following the Completion Date
     each of the Employees who is immediately before the Completion Date an
     active member of the

                                       23

<PAGE>

     Seller's Schemes is offered membership of a pension scheme nominated by the
     Buyer which is a personal pension scheme.

13.  CONFIDENTIALITY AND ANNOUNCEMENTS

13.1 In consideration of the Buyer agreeing to buy the Hardware Business on the
     terms of this Agreement, the Seller agrees with the Buyer that (save as may
     be required by law, and then only to the extent so required) it will, and
     will procure that each member of the Seller's Group will, keep confidential
     (other than in accordance with clause 13.2 any confidential information in
     relation to the affairs or business of the Hardware Business.

13.2 Save for the publication of the announcements in the agreed terms, no
     announcement or statement about this Agreement or the subject matter of, or
     any matter referred to in, this Agreement shall be made or issued before,
     on or after Completion by or on behalf of either of the parties without the
     prior written approval of the other party (such approval not to be
     unreasonably withheld or delayed) PROVIDED that nothing shall restrict the
     making by either party (even in the absence of the other party's agreement)
     of any statement which may be required by law or called for by the
     requirements of the Stock Exchange, but then only to the extent so
     required.

14.  FURTHER ASSURANCE AND AVAILABILITY OF INFORMATION

14.1 The Seller shall and shall procure that any relevant member of the Seller's
     Group shall do, execute and perform and shall procure to be done, executed
     and performed all such further acts, deeds documents and things as the
     Buyer may require from time to time effectively to vest the full legal and
     beneficial ownership of the Assets in the Buyer or as it directs free from
     all liens, charges, options, encumbrances or adverse rights or interest of
     any kind and otherwise to give to the Buyer the full benefit of this
     Agreement.

14.2 The Seller shall and shall procure that the relevant member of the Seller's
     Group shall cause to be made available to the Buyer all information in its
     possession or under its control which the Buyer may from time to time
     reasonably require (after Completion) relating to the business and affairs
     of the Hardware Business and shall permit the Buyer and its representatives
     on reasonable advance notice to have access to documents containing such
     information and to take copies thereof.

15.  INTEREST

15.1 If any amount required to be paid under this Agreement is not paid when it
     is due, such amount shall bear interest at the rate of three per cent per
     annum over the base lending rate of National Westminster Bank PLC from time
     to time, calculated on a daily basis for the period from the relevant due
     date for payment up to and including the date of actual payment, as well
     after as before any judgment.

                                       24

<PAGE>

16.  CONTINUING OBLIGATIONS AND ASSIGNMENT

16.1 Each of the obligations, warranties, representations, indemnities and
     undertakings accepted or given by the Seller or the Buyer under this
     Agreement or any document referred to herein ("Obligations") shall continue
     in full force and effect notwithstanding Completion taking place and shall
     be binding on their respective successors.

16.2 The rights of each of the parties to this Agreement may be assigned only
     with the prior written consent of the other parties.

17.  COSTS

Each party shall pay its own costs and expenses in relation to the negotiation,
preparation, and implementation of this Agreement (and the documents referred to
herein), including the fees and disbursements of their respective legal,
accountancy and other advisers.

18.  NOTICES

18.1 Any notice or other communication to be given under this Agreement shall be
     in writing, shall be deemed to have been duly served on, given to or made
     in relation to a party if it is left at the authorised address of that
     party, posted by first class addressed to that party at such address, or
     sent by facsimile transmission to a machine situated at such address and
     shall if:

     (a)  personally delivered, be deemed to have been received at the time of
          delivery;

     (b)  posted to an inland address in the United Kingdom, be deemed to have
          been received on the second Business Day after the date of posting and
          if posted to an overseas address, be deemed to have been received on
          the fifth Business Day after the date of posting; or

     (c)  sent by facsimile transmission, be deemed to have been received upon
          receipt by the sender of a facsimile transmission report (or other
          appropriate evidence) that the facsimile has been transmitted to the
          addressee;

     PROVIDED that where, in the case of delivery by hand or facsimile
     transmission, delivery or transmission occurs after 6.00 pm on a Business
     Day or on a day which is not a Business Day, receipt shall be deemed to
     occur at 9.00 am on the next following Business Day.

     For the purposes of this clause the authorised address of each party shall
     be the address set out at the heading of this Agreement or such other
     address as that party may notify to the others in writing from time to time
     in accordance with the requirements of this clause.

19.  SEVERABILITY

                                       25

<PAGE>

19.1 If any provision of this Agreement (or of any document referred to herein)
     is held to be illegal, invalid or unenforceable in whole or in part the
     legality, validity and enforceability of the remaining provisions of this
     Agreement (or such document) shall not in any way be affected or impaired
     thereby.

20.  ENTIRE AGREEMENT AND VARIATION

20.1 This Agreement (together with any documents referred to herein) contains
     the entire agreement and understanding of the parties and supersedes all
     prior agreements, understandings or arrangements (both oral and written)
     relating to the subject matter of this Agreement.

20.2 Each of the parties acknowledges and agrees that:

     (a)  It does not enter into this Agreement and the documents referred to
          herein on the basis of and does not rely, and has not relied, upon any
          statement or representation (whether negligent or innocent) or
          warranty or other provision (in any case whether oral, written,
          express or implied) made, given or agreed to by any person (whether a
          party to this Agreement or not) except those expressly set out or
          referred to in this Agreement and the documents referred to herein;
          and

     (b)  this clause 20 shall not apply to any statement, representation or
          warranty made fraudulently or to any provision of this Agreement which
          was induced by, or otherwise entered into as a result of, fraud, for
          which the remedies shall be all those available under the law
          governing this Agreement.

20.3 No variation, supplement, deletion or replacement of or from this Agreement
     or any of its terms shall be effective unless made in writing and signed by
     or on behalf of each party.

21.  GENERAL PROVISIONS

21.1 Any waiver of a breach of any of the terms of this Agreement or of any
     default hereunder shall not be deemed to be a waiver of any subsequent
     breach or default and shall in no way affect the other terms of this
     Agreement. No failure to exercise and no delay on the part of any party in
     exercising any right, remedy, power or privilege of that party under this
     Agreement and no course of dealing between the parties shall be construed
     or operate as a waiver thereof, nor shall any single or partial exercise of
     any right, remedy, power or privilege preclude any other or further
     exercise thereof or the exercise of any other right, remedy, power or
     privilege. The rights and remedies provided by this Agreement are
     cumulative and are not exclusive of any rights or remedies provided by law.

21.2 The Buyer shall have, absent fraud, no right whatsoever on or after the
     date of this Agreement to terminate or rescind this Agreement.

                                       26

<PAGE>

22.  SELLERS GUARANTEE

22.1 For good and valuable consideration, receipt whereof is hereby acknowledged
     by the Seller's Guarantor, the Seller's Guarantor hereby irrevocably and
     unconditionally guarantees to the Buyer the due and punctual payment of all
     moneys and performance of all other obligations expressed to be payable or
     performed by BTL and/or the Seller under the terms of this and any
     documents collateral thereto (together, the "Documents" and individually a
     "Document") and agrees that, if at any time or from time to time any of the
     moneys expressed to be payable by BTL and/or the Seller under any Document
     (whether at stated date of payment, on demand or otherwise) are not paid on
     the due date therefor, or if any of its other obligations are not
     performed, it will forthwith upon demand therefor made by the Buyer upon it
     unconditionally pay in the manner required by the relevant Document the
     moneys the payment of which has not been made as aforesaid provided that
     demand has been made on the Seller or BTL (as the case may be) and such
     demand has not been complied with within fourteen days, to the intent that
     the amounts so payable shall be such amounts as will result in such person
     or persons receiving the same amounts as would have been received had such
     payments been duly made by BTL and/or the Seller in accordance with the
     terms of the relevant Document, or (as appropriate) procure the performance
     of the other obligations in question.

22.2 In addition to, but separate from, the obligations contained in Clause 22.1
     above, the Seller's Guarantor hereby irrevocably and unconditionally agrees
     to indemnify the Buyer and to keep the Buyer indemnified against any loss
     of whatever kind resulting from the failure by BTL and/or the Seller to
     make any payment expressed to be due under the Documents when due or to
     perform any other obligation thereunder and to pay the amount of such loss
     whether or not the Buyer or any other person has attempted to enforce any
     rights against BTL and/or the Seller after a demand has been made and not
     complied with within fourteen days. Without prejudice to the generality of
     the foregoing, such loss shall include all those amounts as shall not have
     been paid as aforesaid and all costs and expenses (including actual legal
     fees and expenses) which the Buyer may incur in proceedings against BTL
     and/or the Seller.

22.3 The Seller's Guarantor shall not be exonerated or discharged from any of
     its obligations under this clause 22, nor shall any of such obligations be
     in any way prejudiced or affected, by:-

     (a)  any invalidity or unenforceability of any obligation expressed to be
          assumed by BTL and/or the Seller under or in connection with any
          Document; or
     (b)  any variation or amendment of, or waiver or release granted under or
          in respect of, any Document or any document referred to therein; or
     (c)  time being given to BTL and/or the Seller or any other indulgence or
          concession to BTL and/or the Seller granted by the Buyer; or
     (d)  the release of BTL and/or the Seller from any of its obligations under
          any Document or the taking, holding, varying, non-enforcement,
          non-perfection or release by the Buyer of any other security for all
          or any of the sums expressed to be payable by BTL and/or the Seller
          under any Document; or
     (e)  the liquidation, insolvency, examination, receivership or analogous
          process of, or any change in the status, function, control, ownership
          or financial condition of BTL and/or the Seller or any other person or
          by any other event; or

                                       27

<PAGE>

     (f)  any other thing done or omitted or neglected to be done by the Buyer
          or any other dealing, fact, matter or thing which, but for this
          provision, might operate to exonerate or discharge the Seller from any
          of its obligations under this clause 22.

22.4 The obligations of the Seller's Guarantor under this clause 22 are
     continuing obligations and accordingly they shall remain in operation until
     all moneys and other obligations now or hereafter expressed to be owing or
     undertaken under the terms of the Documents have been finally and
     irrevocably paid off or satisfied in full and discharged and performed and
     are in addition to and not in substitution for, and shall not be prejudiced
     or affected by, any other security which the Buyer may at any time hold for
     the payment of such moneys or any of them and may be enforced without first
     having recourse to any such security and without taking any steps or
     proceedings against BTL and/or the Seller.

23.  GOVERNING LAW AND JURISDICTION

23.1 This Agreement (together with all documents to be entered into pursuant to
     it which are not expressed to be governed by another law) shall be governed
     by, construed and take effect in accordance with English law.

23.2 The courts of England shall have exclusive jurisdiction to settle any
     claim, dispute or matter of difference which may arise out of or in
     connection with this Agreement (including without limitation claims for
     set-off or counterclaim) or the legal relationships established by this
     Agreement.

23.3 Each of the parties hereto agrees that in the event of any action between
     any of the parties hereto being commenced in respect of this Agreement or
     any matters arising under it, the process by which it is commenced, (where
     consistent with the applicable court rules) may be served on them in
     accordance with clause 18.

24.  THIRD PARTY RIGHTS

24.1 Except where the contrary intention expressly appears in this Agreement,
     nothing in this Agreement is intended to confer on any person any right to
     enforce any term of this Agreement which that person would not have had but
     for the Contracts (Rights of Third Parties) Act 1999. Where such contrary
     intention appears, the rights in question are enforceable only by the third
     parties expressly identified (and not by any other person) subject to and
     in accordance with the terms of this Agreement in question.

24.2 No right of any party to agree any amendment, variation, waiver or
     settlement under or arising from or in respect of this Agreement, or to
     terminate this Agreement, shall be subject to the consent of any person who
     has rights under this Agreement by virtue of the Contracts (Rights of Third
     Parties) Act 1999.

25   CERTIFICATE OF VALUE

                                       28

<PAGE>

It is hereby certified that the transaction effected under this Agreement 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 exceeds
(pound)60,000.

AS WITNESS the hands of the parties or their duly authorised representatives the
day and year first above written.

                                       29

<PAGE>

                                   SCHEDULE 1

                         Business Intellectual Property

PART A

<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------------------
                                                                                                        Date of        Renewal
Country   Owner                              Trade Mark          Class        Number      Status        Registration   Date
--------------------------------------------------------------------------------------------------------------------------------
<S>       <C>                                <C>                 <C>          <C>         <C>              <C>         <C>
USA       Baltimore Technologies Ltd (Irl)   Sureware             9, 42, 35   76/305795   Application
--------------------------------------------------------------------------------------------------------------------------------
UK        Baltimore Technologies Ltd (Irl)   Sureware (series)        9, 16    2262635A   Registered       28-Feb-01   28-Feb-11
--------------------------------------------------------------------------------------------------------------------------------
CTM       Baltimore Technologies Ltd (Irl)   Sureware word       09, 16, 42     2356343   Advertised
--------------------------------------------------------------------------------------------------------------------------------
CTM       Baltimore Technologies Ltd (Irl)   Sureware Keyper      9, 16, 42     2356376   Advertised
--------------------------------------------------------------------------------------------------------------------------------
UK        Baltimore Technologies Ltd (Irl)   Sureware Keyper          9, 16    2262635B   Registered       28-Feb-01   28-Feb-11
--------------------------------------------------------------------------------------------------------------------------------
USA       Baltimore Technologies Ltd (Irl)   Sureware Keyper      9, 42, 35   76/305791   Application
--------------------------------------------------------------------------------------------------------------------------------
CTM       Baltimore Technologies Ltd (Irl)   Sureware Net        09, 16, 42     2356350   Advertised
--------------------------------------------------------------------------------------------------------------------------------
USA       Baltimore Technologies Ltd (Irl)   Sureware Net         9, 42, 35   76/305790   Application
--------------------------------------------------------------------------------------------------------------------------------
CTM       Baltimore Technologies Ltd (Irl)   Sureware Runner      09,16, 42     2356319   Advertised
--------------------------------------------------------------------------------------------------------------------------------
UK        Baltimore Technologies Ltd (Irl)   Sureware Runner          9, 16    2262635C   Registered       28-Feb-01   28-Feb-11
--------------------------------------------------------------------------------------------------------------------------------
USA       Baltimore Technologies Ltd (Irl)   Sureware Runner      9, 42, 35   76/305792   Application
--------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>

The unregistered Trade Mark
"ACCE"

All Intellectual Property Rights in all and any software, source code, designs
and other information held on the perforce server but excluding any obligations
arising out of or created in connection with any such software, source code or
information.

                                       31

<PAGE>

                                   SCHEDULE 2

                               Customer Contracts

                         [Schedule 9 - Work in Progress]

Customers

<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------------------------
Customer             Item         Value      Invoiced           Comment
-------------------------------------------------------------------------------------------------------------------------
<S>                  <C>          <C>        <C>                <C>
Visa International   SafeKeyper   $    tba   Invoiceable on     Additional professional services in respect of SafeKeyper
(USA)                Migration               Time & Materials   Migration completed in June 2002 for services provided by
                                             basis              Baltimore (USA) and BBN Technologies
-------------------------------------------------------------------------------------------------------------------------
SecureNet            SureWare     $170,000   June 2002          Units shipped in June 2002, invoice date delayed to Sept
(Australia)          Keypers                                    2002 under SecureNet Agreement
-------------------------------------------------------------------------------------------------------------------------
</TABLE>

                                       32

<PAGE>

                                   SCHEDULE 3

                                Demised Premises

The Ground Floor, The West Wing Focus 31, Mark Road, Hemel Hempstead, United
Kingdom.

                                       33

<PAGE>

                                   SCHEDULE 4

                                Deed Of Covenants

THIS DEED OF COVENANT is made the      day of                           2002
                                  ----        -------------------------

BETWEEN:

(1)  Baltimore Technologies plc a company registered in England and Wales under
     number 2643615 whose registered office is at 1310 Waterside, Arlington
     Business park Theale Reading Berks, RG7 4SA United Kingdom, (the
     "Covenantor") and

(2)  AEP Systems International Limited a Company registered in England and Wales
     under number 4479308 whose registered office is at Gomms Wood Lodge, Cherry
     Drive, Forty Green, Beaconsfield, Buckinghamshire H9P 1XP(the "Buyer").

WHEREAS:

Pursuant to the provisions of an Agreement dated          2002 between amongst
                                                 --------
others the Covenantor and the Buyer, (the "Sale Agreement") the Buyer has agreed
to acquire the Hardware Business and the Covenantor has agreed to enter into
this Deed.

OPERATIVE TERMS:

1.   INTERPRETATION

1.1  In this Deed unless the context or subject matter otherwise requires,
     expressions defined in the Sale Agreement shall have the same meanings and
     in addition the following expressions shall have the following meanings:

     "Restricted Business" the business as described in the Sale Agreement under
     the definition "Hardware Business";

     "Restricted Area" the United Kingdom, Ireland, France , Italy, Germany,
     Spain, Japan and the United States of America;

     "Restricted Period" the period from the date of this Agreement to 10
     September 2004;

2.   COVENANTS

2.1  Subject to clause 2.5 the Covenantor hereby undertakes to the Buyer that it
     will not and it will procure that no member of the Seller's Group (as
     defined in the Sale Agreement) will either alone or jointly with others,
     whether as principal, agent, manager, shareholder, independent contractor
     or in any other capacity, directly or indirectly through any other person,
     for his own benefit or that of others:

     (a)  at any time during the Restricted Period engage in or carry on or be
          interested in any Restricted Business within the Restricted Area in
          competition with the Buyer (other than as a holder for investment of
          no more than 15 per cent of any class of

                                       34

<PAGE>

          shares or securities dealt in on a recognised stock exchange or as a
          holder of the Buyer's parent's stock);

     (b)  at any time during the period expiring two years after Completion
          actively solicit any employee earning in excess of (pound)50,000 of
          the Hardware Business (an "Employee") to leave the employment of the
          Hardware Business, whether or not such Employee would by reason of so
          leaving commit a breach of his contract of employment, except in any
          such case where such Employee responds to a public advertisement.

2.2  Nothing in this Deed shall prevent or restrict the Covenantor or any of its
     subsidiary undertakings from time to time from acquiring any person or a
     business (a "Target") whose business includes a business (or businesses)
     (the "Competing Business") which competes with the Restricted Business,
     provided that the Competing Business is not a material part of the business
     of the Target. For the purposes of clauses 2.2 and 2.3, the Competing
     Business shall only be deemed "material" if the Competing Business
     contributed more than 30% of the total revenues of the Target, by reference
     to the most recent published accounts (or, if there are none, the
     management accounts).

2.3  If the Competing Business of a Target is material, then the Covenantor (or
     any of its subsidiary undertakings from time to time) may nevertheless make
     the acquisition but undertakes promptly after completion of the acquisition
     to notify the Buyer in writing of this fact and to offer the Buyer the
     first right of refusal to acquire the Competing Business at an arms length
     price and on arms length terms and if such offer is not accepted, dispose
     or cease the operation of the Competing Business within 12 months of the
     date when the Buyer notifies the Covenantor in writing that it does not
     wish to acquire the Competing Business offered pursuant to this clause 2.3.
     At the end of this period, the exemption in clause 2.2 shall cease to
     apply.

2.4  Each of the covenants contained in clause 2 is entirely separate and
     severable and enforceable accordingly. Each of such covenants is considered
     fair and reasonable in all the circumstances by the parties but in the
     event that any such restriction shall be found to be void or ineffective
     but would be valid and effective if some part thereof were deleted or the
     duration or area of application reduced such restriction shall apply with
     such modification as may be necessary to make it valid and effective.

3.   ASSIGNMENT

     The rights of each of the parties to this Deed may be assigned only with
     the prior written consent of the other parties.

4.   GENERAL PROVISIONS

     The following provisions of the Sale Agreement shall apply to this Deed as
     if the same had been set out herein in full save that references therein to
     the Seller, its address and the Agreement respectively shall be construed
     as references to the Covenantor, its address specified in this Deed and
     this Deed:

                                       35

<PAGE>

     (a)  clause 18 Notices
          (i)  clause 19 Severability
          (ii) clause 20 Entire Agreement and Variations
          (iii) clause 21 General provisions
          (iv) Clause 23 Governing law
          (v)  Clause 13 in relation to confidentiality.

In witness whereof this Deed has been entered into the day and year first before
written.

Executed as a Deed by the
Affixing of the Common Seal of
Baltimore Technologies Plc

In the presence of:

--------------------
Director

--------------------
Director/Secretary

Executed as a Deed by the
Affixing of the Common Seal of
AEP SYSTEMS INTERNATIONAL LIMITED

In the presence of:

--------------------
Director

--------------------
Director/Secretary

                                       36

<PAGE>

                                   SCHEDULE 5

                                    Employees

1.   LANE Rob
2.   AHMED Ufique
3.   ANDERSON Ray
4.   ASHDOWN Robin
5.   BRADFORD Richard
6.   CAHILL Charles
7.   CLEMENTS Peter
8.   CRADDOCK Alan
9.   DIXON Tom
10.  DOREY Louise
11.  GAYLER Anne
12.  GOFFIN Paul
13.  HAYES Vicki
14.  HEALY Paul
15.  HOOPMAN Arjan
16.  LEAK David
17.  LEWIS Stephen
18.  MILLER David
19.  PRICE Roger
20.  RABI LALEH Essy
21.  RABI LALEH Karrim
22.  RITCHIE Arwen
23.  RODDEN Ewan
24.  ROSS Stephen
25.  SAUNDERS Rod
26.  STEDMAN Kate
27.  SUREN Rohini
28.  TROBRIDGE Chris
29.  VIRDEE James
30.  WATSON Tim

                                       37

<PAGE>

                                   SCHEDULE 6

                                 Asset Register

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------
Asset                Machine                    Description       QTY         Location/Purpose
---------------------------------------------------------------------------------------------------
<S>      <C>                               <C>                     <C>  <C>
41255    3Com Office Connect               Hub                     1    Dev
---------------------------------------------------------------------------------------------------
         3COM Office Connect               Hub                     1    Cupboard
---------------------------------------------------------------------------------------------------
         3Com Office Connect               Hub                     1    Test
---------------------------------------------------------------------------------------------------
         3Com Office Connect               Hub                     1    Test
---------------------------------------------------------------------------------------------------
         Accton EtherHub -8s               Hub                     1    Dev
---------------------------------------------------------------------------------------------------
42558    ADI                               Monitor 14"             1    List Y
---------------------------------------------------------------------------------------------------
40563    AE SuperCount                     Counter Scales          1    Ops
---------------------------------------------------------------------------------------------------
         Agilent E3631A                    PSU 3 ch                1    Ops
---------------------------------------------------------------------------------------------------
40498    AOC                               Monitor 14"             1    Ops
---------------------------------------------------------------------------------------------------
40600    AVO M806                          DMM                     1    List Y
---------------------------------------------------------------------------------------------------
         Bay EN108                         Hub                     1    Test
---------------------------------------------------------------------------------------------------
         Bay NetGear                       Hub                     1    List Y
---------------------------------------------------------------------------------------------------
41591    Bay NetGear 8                     Hub                     1    Lab
---------------------------------------------------------------------------------------------------
         Bay NetGear 8                     Switch                  1    Dev
---------------------------------------------------------------------------------------------------
         Bay NetGear 8                     Switch                  1    Test
---------------------------------------------------------------------------------------------------
         Bay NetGear D5116                 Hub                     1    Test
---------------------------------------------------------------------------------------------------
         BICC Data Networks ISOLAN 10Mhz   Hub                     1
---------------------------------------------------------------------------------------------------
         Blackbird                         Debug probe             2    Dev
---------------------------------------------------------------------------------------------------
         Blackbird                         Debug probe             1    Dev
---------------------------------------------------------------------------------------------------
         Blackbird                         Debug probe             1    Dev
---------------------------------------------------------------------------------------------------
         Blackbird                         Debug probe             1    Dev
---------------------------------------------------------------------------------------------------
         Blackbird                         Debug probe             1    Dev
---------------------------------------------------------------------------------------------------
         Blackbird                         Debug probe             2    Dev
---------------------------------------------------------------------------------------------------
40728    Canon Multipass C20               Fax                     1    Ops
---------------------------------------------------------------------------------------------------
40410    Canon NP6012                      Photocopier             1    IT - Ops
---------------------------------------------------------------------------------------------------
         Cisco 2600                        Switch                  1    Test
---------------------------------------------------------------------------------------------------
40004    Clare A114                        Earth leakage Test      1    Ops
---------------------------------------------------------------------------------------------------
40549    Clare A303J                       Flash Tester            1    Ops
---------------------------------------------------------------------------------------------------
40923    Compaq 300                        PC - desktop            1    Test
---------------------------------------------------------------------------------------------------
561      Compaq 300 Prosignia              PC - mini               1    List Y
---------------------------------------------------------------------------------------------------
41220    Compaq 450 Dual                   PC - desktop            1    Test
---------------------------------------------------------------------------------------------------
41628    Compaq 550                        PC - desktop            1    IT
---------------------------------------------------------------------------------------------------
41811    Compaq 600                        PC - desktop            1    IT
---------------------------------------------------------------------------------------------------
42507    Compaq 600                        PC - desktop            1    List Y - test
---------------------------------------------------------------------------------------------------
42539    Compaq 600                        PC - desktop            1    IT
---------------------------------------------------------------------------------------------------
42592    Compaq 600                        PC - desktop            1    IT
---------------------------------------------------------------------------------------------------
</TABLE>

                                       38

<PAGE>

<TABLE>
---------------------------------------------------------------------------------------------------
<S>      <C>                               <C>                     <C>  <C>
42626    Compaq 600                        PC - desktop            1    IT
---------------------------------------------------------------------------------------------------
42629    Compaq 600                        PC - desktop            1    Mandrake Linux
---------------------------------------------------------------------------------------------------
42631    Compaq 600                        PC - desktop            1    IT
---------------------------------------------------------------------------------------------------
42643    Compaq 600                        PC - desktop            1    IT
---------------------------------------------------------------------------------------------------
42692    Compaq 600                        PC - desktop            1    IT
---------------------------------------------------------------------------------------------------
42693    Compaq 600                        PC - desktop            1    Test
---------------------------------------------------------------------------------------------------
42694    Compaq 600                        PC - desktop            1    IT
---------------------------------------------------------------------------------------------------
42695    Compaq 600                        PC - desktop            1    Test
---------------------------------------------------------------------------------------------------
42696    Compaq 600                        PC - desktop            1    For disposal
---------------------------------------------------------------------------------------------------
42689    Compaq 733                        PC - desktop            1    IT
---------------------------------------------------------------------------------------------------
42690    Compaq 733                        PC - desktop            1    Test
---------------------------------------------------------------------------------------------------
42711    Compaq 733                        PC - desktop            1    C2
---------------------------------------------------------------------------------------------------
42712    Compaq 733                        PC - desktop            1    C1
---------------------------------------------------------------------------------------------------
42735    Compaq 733                        PC - desktop            1    IT
---------------------------------------------------------------------------------------------------
42740    Compaq 733                        PC - desktop            1    For disposal
---------------------------------------------------------------------------------------------------
42755    Compaq 733                        PC - desktop            1    IT
---------------------------------------------------------------------------------------------------
42776    Compaq 800                        PC - desktop            1    IT
---------------------------------------------------------------------------------------------------
42737    Compaq 866                        PC - desktop            1    Circuit layouts
---------------------------------------------------------------------------------------------------
42778    Compaq 866                        PC - desktop            1    Linux Dev
---------------------------------------------------------------------------------------------------
42779    Compaq 866                        PC - desktop            1    IT
---------------------------------------------------------------------------------------------------
40460    Compaq Armada                     PC - notebook           1    Test
---------------------------------------------------------------------------------------------------
41602    Compaq S900                       Monitor 19"             1    Test
---------------------------------------------------------------------------------------------------
         Cupboard C8 - Ops                 Safe                    1    Downstairs next to test lab
---------------------------------------------------------------------------------------------------
527      DAL                               PC - desktop            1    Test
---------------------------------------------------------------------------------------------------
532      DAL                               PC - desktop            1    Circuit Testing rig
---------------------------------------------------------------------------------------------------
606      DAL                               PC - desktop            1    Ops
---------------------------------------------------------------------------------------------------
626      DAL                               PC - mini               1    List X - Dev/Europay PS
---------------------------------------------------------------------------------------------------
40283    DAL                               PC - desktop            1    Test
---------------------------------------------------------------------------------------------------
40284    DAL                               PC - desktop            1    Test
---------------------------------------------------------------------------------------------------
40302    DAL                               PC - desktop            1    List Y
---------------------------------------------------------------------------------------------------
40411    DAL                               PC - desktop            1    Unknown
---------------------------------------------------------------------------------------------------
40415    DAL                               PC - desktop            1    Test
---------------------------------------------------------------------------------------------------
40417    DAL                               PC - desktop            1    Test
---------------------------------------------------------------------------------------------------
40420    DAL                               PC - desktop            1    Test
---------------------------------------------------------------------------------------------------
40596    DAL                               PC - desktop            1    For disposal
---------------------------------------------------------------------------------------------------
40597    DAL                               PC - desktop            1    For disposal
---------------------------------------------------------------------------------------------------
40598    DAL                               PC - desktop            1    Test
---------------------------------------------------------------------------------------------------
40602    DAL                               PC - desktop            1    List Y
---------------------------------------------------------------------------------------------------
40643    DAL                               PC - desktop            1    Test
---------------------------------------------------------------------------------------------------
40648    DAL                               PC - desktop            1    Test
---------------------------------------------------------------------------------------------------
40670    DAL                               PC - desktop            1    List Y
---------------------------------------------------------------------------------------------------
40675    DAL                               PC - desktop            1    Test
---------------------------------------------------------------------------------------------------
40683    DAL                               PC - desktop            1    License Server
---------------------------------------------------------------------------------------------------
</TABLE>

                                       39

<PAGE>

<TABLE>
---------------------------------------------------------------------------------------------------
<S>      <C>                               <C>                     <C>  <C>
40717    DAL                               PC - desktop            1    Test
---------------------------------------------------------------------------------------------------
40718    DAL                               PC - desktop            1    Ops - Test PC
---------------------------------------------------------------------------------------------------
40840    DAL                               PC - desktop            1    For disposal
---------------------------------------------------------------------------------------------------
40849    DAL                               PC - desktop            1    Test
---------------------------------------------------------------------------------------------------
40894    DAL                               PC - desktop            1    Unknown
---------------------------------------------------------------------------------------------------
40904    DAL                               PC - desktop            1    List X - Dev/Europay PS
---------------------------------------------------------------------------------------------------
40896    DAL 334                           PC - desktop            1    Test
---------------------------------------------------------------------------------------------------
40897    DAL 334                           PC - desktop            1    For disposal
---------------------------------------------------------------------------------------------------
40673    DAL ???                           PC - desktop            1    For disposal
---------------------------------------------------------------------------------------------------
580      DAL 133                           PC - desktop            1    Test
---------------------------------------------------------------------------------------------------
43203    Dell                              Monitor 15"             1    Test
---------------------------------------------------------------------------------------------------
43201    DellPrecision 933 Twin            PC - tower              1    Dev
---------------------------------------------------------------------------------------------------
43202    DellPrecision 933 Twin            PC - tower              1    Test
---------------------------------------------------------------------------------------------------
         Demo SureWare Keyper              HSM                     1    Holland
---------------------------------------------------------------------------------------------------
631      EIZO Flexscan F55                 Monitor 17"             1    Test
---------------------------------------------------------------------------------------------------
40653    Epic                              PC                      1    Ops
---------------------------------------------------------------------------------------------------
42554    Epson GTI2000                     Scanner                 1    Dev
---------------------------------------------------------------------------------------------------
         Fakerscope                                                1    Ops
---------------------------------------------------------------------------------------------------
         Fellowes FXL 125                  Laminator               1    Ops
---------------------------------------------------------------------------------------------------
J2197    Financial                         HSM                     1
---------------------------------------------------------------------------------------------------
J2479    Financial                         HSM                     1
---------------------------------------------------------------------------------------------------
J4171    Financial                         HSM                     1
---------------------------------------------------------------------------------------------------
J4172    Financial                         HSM                     1    Test
---------------------------------------------------------------------------------------------------
         Fluke                             DMM                     1    Ops
---------------------------------------------------------------------------------------------------
         GemPlus GCR 4100                  Smartcard reader        4    Cupboard
---------------------------------------------------------------------------------------------------
         GemPlus GCR 4100                  Smartcard reader        1    Dev
---------------------------------------------------------------------------------------------------
         Gemplus GCR 4100                  Smartcard reader        3    Dev Europay Test Rig
---------------------------------------------------------------------------------------------------
         GemPlus GCR 4100                  Smartcard reader        2    List X - Europay PS
---------------------------------------------------------------------------------------------------
         GemPlus GCR 4100                  Smartcard reader        3    Test
---------------------------------------------------------------------------------------------------
42761    HP                                PC - mini               1    EMC Test
---------------------------------------------------------------------------------------------------
         HP                                PSU                     1    Ops
---------------------------------------------------------------------------------------------------
42560    HP 2500C                          Printer - deskjet       1    IT - Dev
---------------------------------------------------------------------------------------------------
41027    HP 8000DN                         Printer                 1    IT - Dev
---------------------------------------------------------------------------------------------------
42582    HP 82000 Visualize (HP-UX v11)    WS - mini               1    Test (hp-viz2)
---------------------------------------------------------------------------------------------------
         HP 860                            Debug probe             2    Dev
---------------------------------------------------------------------------------------------------
         HP 9121                           PC - desktop            1    Lab - not in use
---------------------------------------------------------------------------------------------------
41553    HP A4575A                         Monitor 19"             1    IT
---------------------------------------------------------------------------------------------------
42588    HP Brio                           Monitor 17"             1    List Y
---------------------------------------------------------------------------------------------------
41016    HP DesignJet 450C                 Printer - Plotter       1    Lab
---------------------------------------------------------------------------------------------------
         HP Jet Direct Plus                Switch - printer/LAN    1    IT - Dev
---------------------------------------------------------------------------------------------------
40285    HP Laserjet 4                     Printer                 1    IT - Ops - HH01
---------------------------------------------------------------------------------------------------
43204    HP M700                           Monitor 17"             1    HP
---------------------------------------------------------------------------------------------------
42584    HP P910                           Monitor 19"             1    IT
---------------------------------------------------------------------------------------------------
</TABLE>

                                       40

<PAGE>

<TABLE>
---------------------------------------------------------------------------------------------------
<S>      <C>                               <C>                     <C>  <C>
42585    HP P910                           Monitor 19"             1    Ops
---------------------------------------------------------------------------------------------------
40939    HP Ultra 1280                     Monitor 17"             1    Ops
---------------------------------------------------------------------------------------------------
41216    HP Universal Counter              UC in rack              1
---------------------------------------------------------------------------------------------------
40940    HP Vectra VL                      PC - mini               1    Ops - Old EMC
---------------------------------------------------------------------------------------------------
42761    HP Vectra VL400                   PC                      1    Ops - EMC Tester
---------------------------------------------------------------------------------------------------
43191    HP1650B                           Logic Analyser          1    Lab
---------------------------------------------------------------------------------------------------
40048    HP18179A                          Line Analyser           1    Lab
---------------------------------------------------------------------------------------------------
         iBox-4xxP-2                       Debug probe             2    Dev
---------------------------------------------------------------------------------------------------
         ICS Advent Pro 4148               PC - industrial         1    List Y - Black Test
---------------------------------------------------------------------------------------------------
42557    IIyama Vision Master              Monitor 17"             1    IT
---------------------------------------------------------------------------------------------------
41129    Intel In Business 8 port          Hub                     1    Test
---------------------------------------------------------------------------------------------------
41219    JTAG: PM3705 Boundary Scan
         Controller                                                1    Lab
---------------------------------------------------------------------------------------------------
40651    JVC TK-C1380                      Video Camera            1    List Y
---------------------------------------------------------------------------------------------------
F00397   K&K                               Pallet Truck            1    Ops
---------------------------------------------------------------------------------------------------
         Kardex Industviewer                                       1    Ops
---------------------------------------------------------------------------------------------------
J4416    Keyper                            HSM                     1    Debug
---------------------------------------------------------------------------------------------------
         Keyper                            HSM                     1    Debug
---------------------------------------------------------------------------------------------------
J3731    Keyper PCI (broken)               HSM                     1
---------------------------------------------------------------------------------------------------
J2033    Keyper v2.2                       HSM                     1    Test
---------------------------------------------------------------------------------------------------
J3435    Keyper v2.2                       HSM                     1    Test
---------------------------------------------------------------------------------------------------
J3486    Keyper v2.2                       HSM                     1    Test
---------------------------------------------------------------------------------------------------
J4133    Keyper v2.2                       HSM                     1    Test
---------------------------------------------------------------------------------------------------
         Keyper v3                         HSM                     1    Debug
---------------------------------------------------------------------------------------------------
         Master View Plus                  Switch - monitor        1    Test
---------------------------------------------------------------------------------------------------
         Master View Plus                  Switch - monitor        1    Test
---------------------------------------------------------------------------------------------------
43190    MasterView C5104                  Switch - monitor        1    Test
---------------------------------------------------------------------------------------------------
40003    Megger pat 2                      PAT                     1    Ops
---------------------------------------------------------------------------------------------------
43197    Meiji EMZ                         Microscope              1    Lab
---------------------------------------------------------------------------------------------------
40516    Messer M5097                      MMU                     1    Lab
---------------------------------------------------------------------------------------------------
40078    Mettler PE 3600                   Scales                  1    Ops
---------------------------------------------------------------------------------------------------
42630    Mitsubishi Diamond Plus 91        Monitor 19"             1    IT
---------------------------------------------------------------------------------------------------
42639    Mitsubishi Diamond Plus 91        Monitor 19"             1    IT
---------------------------------------------------------------------------------------------------
42655    Mitsubishi Diamond Plus 91        Monitor 19"             1    Test
---------------------------------------------------------------------------------------------------
42656    Mitsubishi Diamond Plus 91        Monitor 19"             1    IT
---------------------------------------------------------------------------------------------------
42657    Mitsubishi Diamond Plus 91        Monitor 19"             1    IT
---------------------------------------------------------------------------------------------------
42658    Mitsubishi Diamond Plus 91        Monitor 19"             1    IT
---------------------------------------------------------------------------------------------------
42680    Mitsubishi Diamond Plus 91        Monitor 19"             1    Circuit layouts
---------------------------------------------------------------------------------------------------
42732    Mitsubishi Diamond Plus 91        Monitor 19"             1    IT
---------------------------------------------------------------------------------------------------
42756    Mitsubishi Diamond Plus 91        Monitor 19"             1    IT
---------------------------------------------------------------------------------------------------
42764    Mitsubishi Diamond Plus 91        Monitor 19"             1    Test
---------------------------------------------------------------------------------------------------
43200    Mitsubishi Diamond Plus 91        Monitor 19"             1    Dev
---------------------------------------------------------------------------------------------------
41208    Mitsubishi Diamond Scan 50        Monitor 15"             1    Ops
---------------------------------------------------------------------------------------------------
</TABLE>

                                       41

<PAGE>

<TABLE>
---------------------------------------------------------------------------------------------------
<S>      <C>                               <C>                     <C>  <C>
41523    Mitsubishi Diamond Scan 70        Monitor 17"             1    List X - dev/Europay PS
---------------------------------------------------------------------------------------------------
42508    Mitsubishi Diamond Scan 70        Monitor 17"             1    Ops
---------------------------------------------------------------------------------------------------
42536    Mitsubishi Diamond Scan 70        Monitor 17"             1    List Y
---------------------------------------------------------------------------------------------------
42538    Mitsubishi Diamond Scan 70        Monitor 17"             1    Spare
---------------------------------------------------------------------------------------------------
42713    Mitsubishi Diamond Scan 70        Monitor 17"             1    IT
---------------------------------------------------------------------------------------------------
42714    Mitsubishi Diamond Scan 70        Monitor 17"             1    Ops
---------------------------------------------------------------------------------------------------
42729    Mitsubishi Diamond Scan 70        Monitor 17"             1    Ops
---------------------------------------------------------------------------------------------------
42733    Mitsubishi Diamond Scan 70        Monitor 17"             1    Ops
---------------------------------------------------------------------------------------------------
42753    Mitsubishi Diamond Scan 70        Monitor 17"             1    List Y
---------------------------------------------------------------------------------------------------
43716    Mitsubishi Diamond Scan 70        Monitor 17"             1    IT
---------------------------------------------------------------------------------------------------
         Mockup Keyper for customer
         visits                            HSM                     1    Holland
---------------------------------------------------------------------------------------------------
41215    Multimeter                        MMU in rack             1    Lab
---------------------------------------------------------------------------------------------------
40918    NEC A700                          Monitor 17"             1    Test
---------------------------------------------------------------------------------------------------
40919    NEC JC-1576VMB                    15" Monitor             1    Ops
---------------------------------------------------------------------------------------------------
J3406    Net                               HSM                     1    Test
---------------------------------------------------------------------------------------------------
J3410    Net                               HSM                     1    Test
---------------------------------------------------------------------------------------------------
J3569    Net                               HSM                     1    Test
---------------------------------------------------------------------------------------------------
J3591    Net                               HSM                     1    Test
---------------------------------------------------------------------------------------------------
J3595    Net                               HSM                     1    Test
---------------------------------------------------------------------------------------------------
J3601    Net                               HSM                     1    Test
---------------------------------------------------------------------------------------------------
J3606    Net                               HSM                     1    Test
---------------------------------------------------------------------------------------------------
J3608    Net                               HSM                     1    Test
---------------------------------------------------------------------------------------------------
J3609    Net                               HSM                     1    Test
---------------------------------------------------------------------------------------------------
J3669    Net                               HSM                     1    Test
---------------------------------------------------------------------------------------------------
J3944    Net                               HSM                     1    Test
---------------------------------------------------------------------------------------------------
J3953    Net                               HSM                     1    Test
---------------------------------------------------------------------------------------------------
         Net debug                         HSM                     1    Debug
---------------------------------------------------------------------------------------------------
J2460    Net Keyper                        HSM                     1    Test
---------------------------------------------------------------------------------------------------
J2468    Net Keyper                        HSM                     1    Test
---------------------------------------------------------------------------------------------------
         NetGear D5104                     Hub                     1    Test
---------------------------------------------------------------------------------------------------
         Noise Ken FVC-1000                EMI noise sensor        1    Ops
---------------------------------------------------------------------------------------------------
         Noise Ken FVC-30                  EMI noise sensor        1    Ops
---------------------------------------------------------------------------------------------------
40424    Nokia 447E                        Monitor 14"             1    List Y
---------------------------------------------------------------------------------------------------
J2424    NSP                               HSM                     1    Debug
---------------------------------------------------------------------------------------------------
J2425    NSP                               HSM                     1    Debug
---------------------------------------------------------------------------------------------------
P2152    NSP                               HSM                     1    Test
---------------------------------------------------------------------------------------------------
P2184    NSP                               HSM                     1
---------------------------------------------------------------------------------------------------
P2863    NSP                               HSM                     1
---------------------------------------------------------------------------------------------------
P2864    NSP                               HSM                     1    Debug
---------------------------------------------------------------------------------------------------
         OCDemon Wizzler                   Debug probe             3    Dev
---------------------------------------------------------------------------------------------------
40250    Olivetti PT 505                   Typewriter              1    Ops
---------------------------------------------------------------------------------------------------
40399    Panasonic 5G                      Monitor 17"             1    CD Writer
---------------------------------------------------------------------------------------------------
</TABLE>

                                       42

<PAGE>

<TABLE>
---------------------------------------------------------------------------------------------------
<S>      <C>                               <C>                     <C>  <C>
40700    Panasonic 5G                      Monitor 17"             1    Test
---------------------------------------------------------------------------------------------------
40750    Panasonic 5G                      Monitor 17"             1    Test
---------------------------------------------------------------------------------------------------
40845    Panasonic 5G                      Monitor 17"             1    IT
---------------------------------------------------------------------------------------------------
41023    Panasonic 5G                      Monitor 17"             1    IT
---------------------------------------------------------------------------------------------------
41155    Panasonic 5G                      Monitor 17"             1    Test
---------------------------------------------------------------------------------------------------
40689    Panasonic TX-D1734                Monitor 17"             1    Ops
---------------------------------------------------------------------------------------------------
43194    PDD 3502A                         PSU                     1    Lab
---------------------------------------------------------------------------------------------------
40105    Phillips 3311                     Scope                   1    Lab
---------------------------------------------------------------------------------------------------
40228    Phillips PM 6671                  Timer/Counter           1    Ops
---------------------------------------------------------------------------------------------------
43192    PICSTART Plus                     Programmer              1    Lab
---------------------------------------------------------------------------------------------------
40567    Planet EH1601                     Hub                     1
---------------------------------------------------------------------------------------------------
         Planet EH801                      Hub                     1    Test
---------------------------------------------------------------------------------------------------
         Plus 2 debugger                   Debugger                1    Dev
---------------------------------------------------------------------------------------------------
40674    Polar Tone-OHM                    Short Tracer            1    Ops
---------------------------------------------------------------------------------------------------
         Polar Tone-OHM                    Short Tracer            1    Ops
---------------------------------------------------------------------------------------------------
41217    Power supply                      PSU in rack             1    Lab
---------------------------------------------------------------------------------------------------
41218    Power supply                      PSU in rack             1    Lab
---------------------------------------------------------------------------------------------------
         PowerMan PC FSP250-6OGTA          PC                      1    PCI Test
---------------------------------------------------------------------------------------------------
41043    Project                           Monitor 17"             1    List Y
---------------------------------------------------------------------------------------------------
41150    Project                           Monitor 17"             1    Ops
---------------------------------------------------------------------------------------------------
42505    Projector T1 Plus U2-870          Projector               1    Cupboard
---------------------------------------------------------------------------------------------------
J4883    Runner v2                         HSM                     1
---------------------------------------------------------------------------------------------------
J4888    Runner v2                         HSM                     1
---------------------------------------------------------------------------------------------------
J4889    Runner v2                         HSM                     1
---------------------------------------------------------------------------------------------------
J4892    Runner v2                         HSM                     1
---------------------------------------------------------------------------------------------------
J5006    Runner v2                         HSM                     1
---------------------------------------------------------------------------------------------------
         Safe - backups                    Safe                    1    Located in IT
---------------------------------------------------------------------------------------------------
43205    Safe - dev, Europay               Safe                    1    List X - Dev/Europay PS
---------------------------------------------------------------------------------------------------
         Safe - Ops                        Safe                    1    List Y - Ops
---------------------------------------------------------------------------------------------------
499      Samsung                           Monitor 14"             1    Ops
---------------------------------------------------------------------------------------------------
40403    Samsung 17GLi                     Monitor 17"             1    Sun
---------------------------------------------------------------------------------------------------
40404    Samsung 17GLi                     Monitor 17"             1    Test
---------------------------------------------------------------------------------------------------
40405    Samsung 17GLi                     Monitor 17"             1    Test
---------------------------------------------------------------------------------------------------
40406    Samsung 17GLi                     Monitor 17"             1    Test
---------------------------------------------------------------------------------------------------
40471    Samsung 17GLi                     Monitor 17"             1    Test
---------------------------------------------------------------------------------------------------
40502    Samsung 17GLi                     Monitor 17"             1    IT
---------------------------------------------------------------------------------------------------
40504    Samsung 17GLi                     Monitor 17"             1    Sun
---------------------------------------------------------------------------------------------------
40505    Samsung 17GLi                     Monitor 17"             1    Test
---------------------------------------------------------------------------------------------------
40511    Samsung 17GLi                     Monitor 17"             1    Test
---------------------------------------------------------------------------------------------------
40513    Samsung 17GLi                     Monitor 17"             1    Test
---------------------------------------------------------------------------------------------------
         Schleicher                        Shredder                1    Ops
---------------------------------------------------------------------------------------------------
40033    Schlumber                         DMM                     1    Ops
---------------------------------------------------------------------------------------------------
40652    Schott KL 1500                    Light Source            1    Ops
---------------------------------------------------------------------------------------------------
</TABLE>

                                       43

<PAGE>

<TABLE>
---------------------------------------------------------------------------------------------------
<S>      <C>                               <C>                     <C>  <C>
43195    Soldering Iron                                            1    Lab
---------------------------------------------------------------------------------------------------
43196    Soldering Iron                                            1    Lab
---------------------------------------------------------------------------------------------------
40649    Sony SSM                          Monitor                 1    Ops
---------------------------------------------------------------------------------------------------
41018    Sprint                            Programmer              1    Ops
---------------------------------------------------------------------------------------------------
41232    Sun                               Monitor 17"             1    Sun
---------------------------------------------------------------------------------------------------
42669    Sun                               Monitor 21"             1    IT
---------------------------------------------------------------------------------------------------
42670    Sun                               Monitor 21"             1    IT
---------------------------------------------------------------------------------------------------
         Sun 250                           WS - mini               1    Test
---------------------------------------------------------------------------------------------------
42667    Sun Ultra 10                      WS - mini               1    Test
---------------------------------------------------------------------------------------------------
42668    Sun Ultra 10                      WS - mini               1    Test
---------------------------------------------------------------------------------------------------
41234    Sun Ultra 5                       WS - desktop            1    Test
---------------------------------------------------------------------------------------------------
42723    TeaC                              CD Copier               1    Ops
---------------------------------------------------------------------------------------------------
         Tektronix 465B                    Scope                   1    Lab
---------------------------------------------------------------------------------------------------
40133    Tektronix HP 1630G                Logic Analyser          1    Lab
---------------------------------------------------------------------------------------------------
676      Tektronix Phaser 740              Printer                 1    Ops
---------------------------------------------------------------------------------------------------
43193    Tektronix TDS 3054                Scope                   1    Lab
---------------------------------------------------------------------------------------------------
40429    Tektronix TDS 360                 Scope                   1    Ops
---------------------------------------------------------------------------------------------------
43199    Tektronix TDS784C                                         1    Lab
---------------------------------------------------------------------------------------------------
43198    Tektronix TLA704                  Logic Analyser          1    Lab
---------------------------------------------------------------------------------------------------
41616    Toshiba 4080XCDT                  PC - notebook           1    IT
---------------------------------------------------------------------------------------------------
41139    Toshiba Portage                   PC - notebook           1    IT home use only
---------------------------------------------------------------------------------------------------
41620    Toshiba Portage                   PC - notebook           1    IT
---------------------------------------------------------------------------------------------------
42785    Toshiba Portage                   PC - notebook           1    IT
---------------------------------------------------------------------------------------------------
42809    Toshiba Portage                   PC - notebook           1    IT
---------------------------------------------------------------------------------------------------
43151    Toshiba Portage                   PC - notebook           1    IT
---------------------------------------------------------------------------------------------------
43157    Toshiba Portage                   PC - notebook           1    IT
---------------------------------------------------------------------------------------------------
43163    Toshiba Portage                   PC - notebook           1    IT
---------------------------------------------------------------------------------------------------
43164    Toshiba Portage                   PC - notebook           1    IT
---------------------------------------------------------------------------------------------------
41557    Toshiba Satellite 4080XCDT        PC - notebook           1    IT
---------------------------------------------------------------------------------------------------
41611    Toshiba Satellite 4080XCDT        PC - notebook           1    IT
---------------------------------------------------------------------------------------------------
42595    Toshiba Satellite Pro 4200        PC - notebook           1    IT
---------------------------------------------------------------------------------------------------
7621E    Toshiba Satellite Pro 4200        PC - notebook           1    IT
---------------------------------------------------------------------------------------------------
43153    Toshiba+B320                      Monitor 19"             1    IT
---------------------------------------------------------------------------------------------------
         Tripods                                                   2    List Y
---------------------------------------------------------------------------------------------------
         Unknown                           HSM                     1
---------------------------------------------------------------------------------------------------
         Unknown                           HSM                     1
---------------------------------------------------------------------------------------------------
40388    Vision Matrix                     Microscope              1    Lab
---------------------------------------------------------------------------------------------------
40019    Weir 413D                         PSU                     1    Dev
---------------------------------------------------------------------------------------------------
40611    Wrist strap tester                                        1    Lab
---------------------------------------------------------------------------------------------------
         Xytronic 136 ESD                  Black soldering Stn     1    Ops
---------------------------------------------------------------------------------------------------
40629    Zebra 1055                        Printer - labels        1    Ops - label printing
---------------------------------------------------------------------------------------------------
41156    Zergo                             PC - mini               1    Test
---------------------------------------------------------------------------------------------------
41178    Zergo                             PC - mini               1    Linux
---------------------------------------------------------------------------------------------------
</TABLE>

                                       44

<PAGE>

<TABLE>
---------------------------------------------------------------------------------------------------
<S>      <C>                               <C>                    <C>   <C>
41179    Zergo                             PC - mini               1    List Y
---------------------------------------------------------------------------------------------------
41254    Zergo                             PC - mini               1    Test
---------------------------------------------------------------------------------------------------
42512    Zergo                             PC                      1    Ops - label production
---------------------------------------------------------------------------------------------------
         Zergo                             PC - mini               1    dev-gate
---------------------------------------------------------------------------------------------------
         Zergo Dual 350                    PC - mini               1    Test (hhtest1)
---------------------------------------------------------------------------------------------------
         Zergo Tower                       PC - tower              1    List Y
---------------------------------------------------------------------------------------------------
         Zergo Zip drive                   PC - mini               1    Test
---------------------------------------------------------------------------------------------------
1761     ZergoDual                         PC - mini               1    Test
---------------------------------------------------------------------------------------------------
40764    ZergoDual                         PC - mini               1    CADSTAR ?
---------------------------------------------------------------------------------------------------
41177    ZergoDual                         PC - mini               1    Test
---------------------------------------------------------------------------------------------------
40626                                      PC                      1    Ops - test goods in.
---------------------------------------------------------------------------------------------------
42715                                      PC - notebook           1    IT
---------------------------------------------------------------------------------------------------
J4101                                      HSM                     1    Test
---------------------------------------------------------------------------------------------------
J4425                                      HSM                     1
---------------------------------------------------------------------------------------------------
                                           Fans                    2    Dev
---------------------------------------------------------------------------------------------------
                                           HSM                     1    Debug
---------------------------------------------------------------------------------------------------
                                           HSM                     1    Debug
---------------------------------------------------------------------------------------------------

---------------------------------------------------------------------------------------------------
         Index PSU8 PABX - Serial no
               SDUWM00001SABPCS            Phone System            1    IT
---------------------------------------------------------------------------------------------------
         Index CPUV200 -
               38UEP00001SKQ               Phone System            1    IT
---------------------------------------------------------------------------------------------------
         Index DSLC 32 Digital Extension
               cards - 38UEP00001SDX       Phone System            3    IT
---------------------------------------------------------------------------------------------------
         Index DPNSS-30 -
                38UEP00001SEL              Phone System            1    IT
---------------------------------------------------------------------------------------------------
         Index AL2-8 Analogue Extension
               card  - 38UEP00001SCN       Phone System            1    IT
---------------------------------------------------------------------------------------------------
         Index DT3/5 Extensions.           Phone System           40    Desks
---------------------------------------------------------------------------------------------------

---------------------------------------------------------------------------------------------------
</TABLE>

                                       45

<PAGE>

                                   SCHEDULE 7

                                   IP Licences

PART A

-------------------------------------------------
Software Name
-------------------------------------------------
Adobe Acrobat
-------------------------------------------------
Adobe Frame Maker 6.0
-------------------------------------------------
Adobe GoLive v 5.0
-------------------------------------------------
ALT Synplicity
-------------------------------------------------
Altera Maxplus
-------------------------------------------------
Altera Quartus
-------------------------------------------------
ARM ADS
-------------------------------------------------
Cadence Orcad
-------------------------------------------------
Cadstar
-------------------------------------------------
Chronology Timing Designer
-------------------------------------------------
Installshield
-------------------------------------------------
Installshield 2000
-------------------------------------------------
Jtag for windows for NT
-------------------------------------------------
Labview for Windows v 5.01
-------------------------------------------------
Microsoft MSDN library
-------------------------------------------------
Microsoft Office
-------------------------------------------------
Microsoft Project 2000
-------------------------------------------------
Microsoft Visual .Net Pro
-------------------------------------------------
Microsoft Visual C++v6
-------------------------------------------------
Microsoft Visual Studio
-------------------------------------------------
Microsoft XP Pro
-------------------------------------------------
Perforce
-------------------------------------------------
Prism v2.0 pSOS, Diab C/C++ Compiler Linker
-------------------------------------------------
Single Step debugger
-------------------------------------------------
Sun Dev.Tools (Solaris)
-------------------------------------------------
Thomson Toolkit
-------------------------------------------------
WIZ C Pro for PIC18Fxx
-------------------------------------------------
Xilinx fitter
-------------------------------------------------
Exceed
-------------------------------------------------
HP-UX v11, Ac compiler
-------------------------------------------------
Numega Bounds Checker
-------------------------------------------------
Pro Chain
-------------------------------------------------
PVCS
-------------------------------------------------
Veribest
-------------------------------------------------
Webworks Publisher Professional 6.05
-------------------------------------------------
Araxis Merge Professional
-------------------------------------------------
DSR Recourse
-------------------------------------------------
EasyCad 32
-------------------------------------------------
Rational Rose
-------------------------------------------------
WinZip
-------------------------------------------------
Paintshop Pro v6
-------------------------------------------------
Textpad - 20 user licence
-------------------------------------------------

                                       46

<PAGE>

PART B

                                       47

<PAGE>

                                   SCHEDULE 8

                             Leasing / Hire Purchase

                                      None.

                                       48

<PAGE>

                                   SCHEDULE 9

                               Supplier Contracts
                           Baltimore Hardware Division
                          Work in Progress - 01 Sept 02

Suppliers

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------------------
Supplier                Item                   Value               Status 01 Sept 02                                Next Due date
---------------------------------------------------------------------------------------------------------------------------------
<S>                     <C>                    <C>                 <C>                                              <C>
Stonewood Electronics   Manufacturing           (pound)29,953.25   Order for 25 SureWare Keypers due in Oct 2002.    October 2002
Limited                 Agreement                                  Ongoing obligation to forecast each month. No
                                                                   other commitments in current forecast.
----------------------------------------------------------------------------- ---------------------------------------------------
Stonewood Electronics   Maintenance            (pound)73,905 per   Annual maintenance commitment. Variable fee         1 Oct 2002
Limited                 Agreement                          annum   payable quarterly for units due in that           for Q4 02-03
                                                                   quarter. Currently paid to end Sept 02
---------------------------------------------------------------------------------------------------------------------------------
ALT Technologies        Synplify HDL Analyst        (pound)3,199   FPGA Development kit - annual maintenance            11 Oct 02
---------------------------------------------------------------------------------------------------------------------------------
Cadence                 Orcad maintenance             (pound)140   Annual from 1 Aug 02. Ordered 8 July, not yet         1 Aug 03
                                                                   invoiced
---------------------------------------------------------------------------------------------------------------------------------
Grey Matter             MSDN Subscription           (pound)1,200   Annual Subscription, checking date paid up to         Checking
---------------------------------------------------------------------------------------------------------------------------------
Perforce                Perforce Maintenance        (pound)4,400   Annual maintenance                                   29 Oct 02
---------------------------------------------------------------------------------------------------------------------------------
National Instruments    Labview Maintenance           (pound)990   Annual Subscription                                   1 Mar 03
---------------------------------------------------------------------------------------------------------------------------------
Test Tools              JTAG Maintenance            (pound)2,005   Annual maintenance                                   20 Nov 02
---------------------------------------------------------------------------------------------------------------------------------
Sun Microsystems        Developers                  (pound)1,999   Annual subscription                                   5 Nov 02
                        Subscription
---------------------------------------------------------------------------------------------------------------------------------
Xilinx                  Xilinx Fitter                 (pound)999   Annual maintenance                                   20 Nov 02
                        Maintenance
---------------------------------------------------------------------------------------------------------------------------------
Cardex                  Maintenance of                (pound)520   Annual maintenance                               30 April 2003
                        carousel
---------------------------------------------------------------------------------------------------------------------------------
</TABLE>

                                       51

<PAGE>

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------------------
Supplier                Item                   Value               Status 01 Sept 02                                Next Due date
---------------------------------------------------------------------------------------------------------------------------------
<S>                     <C>                      <C>               <C>                                                <C>
Zygology                Maintenance of label          (pound)335   Annual maintenance                                 28 Feb 2003
                        prnter
---------------------------------------------------------------------------------------------------------------------------------
CESG                    Key generation fee       (pound)2,000 pa   Annual Fee for key generation 1 Apr 02 to 31         01 Apr 03
                                                                   Mar 03. Fee recently agreed and annual service
                                                                   ordered 2 Sept 2002
---------------------------------------------------------------------------------------------------------------------------------
CESG                    Annual CAPS              (pound)6,700 pa   Annual fee paid 30 May 2002 to May 2003              30 May 03
                        Subscription
---------------------------------------------------------------------------------------------------------------------------------
GS Designs              PCB Layout changes            (pound)250   Work in progress at GS Designs                         Sept 02
                        interface 2790
                        Encryptor
---------------------------------------------------------------------------------------------------------------------------------
GS Designs              PCB layout for 2271         (pound)1,500   Work in progress at GS Designs                         Sept 02
                        DCI
---------------------------------------------------------------------------------------------------------------------------------
Hemel Copy Print        25 manuals for             (pound)196.75   Order date 10 Sept 2002                                Sept 02
                        SureWare Keyper &
                        CSP
---------------------------------------------------------------------------------------------------------------------------------
NSS Group               Participation in            (pound)5,000   Ordered 30 July & Invoiced in advance. Test            Sept 02
                        Group PKI Test                             date 16 Sept 2002
---------------------------------------------------------------------------------------------------------------------------------
CESG                    Haystack licence fee        2% per ED20M   Payable per unit backdated 6 months from              Dec 2002
                                                                   agreement signature. Baltimore owes approx
                                                                   (pound)11,000 from Dec 2001 to 1 Sept 2002
---------------------------------------------------------------------------------------------------------------------------------
Windriver               PSOS licence fee            (pound)5 -     Baltimore prepaid 1000 units in 2000.                 Oct 2002
                                                    (pound)8 per   Approximately 1000 units sold to date and
                                                        SureWare   qualifying: new licence needed, quote received
---------------------------------------------------------------------------------------------------------------------------------
</TABLE>

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                                   SCHEDULE 10

                                   Warranties

                                     PART A

                                     GENERAL

1.   INFORMATION SUPPLIED

All information contained in this Agreement and all matters contained in the
Disclosure Letter and all other written information relating to the Hardware
Business given by the Seller or its accountants or the Seller's Solicitors to
the Buyer or its accountants or the Buyer's Solicitors (including without
limitation the replies to due diligence enquiries which are as set out at a
schedule of the Disclosure Letter) are true and accurate in all material
respects and there is no fact or matter relating to the Hardware Business which
is known to the Seller which has not been disclosed in the Disclosure Letter
which renders any such matters or information untrue or inaccurate.

2.   CAPACITY OF THE SELLER

2.1  The Seller, the Seller's Guarantor and BTL have full power and authority
     and has taken all necessary corporate action to enable each of them to
     enter into and perform this Agreement and all agreements entered into by
     any of them, or to be entered into, pursuant to the terms of this
     Agreement, and such agreements when executed will constitute valid, binding
     and enforcable obligations on the Seller, the Seller's Guarantor or BTL (as
     the case maybe) in accordance with their respective terms and none of them
     require the consent, approval or authority of any other person to enter
     into or perform any of their obligations under this Agreement and all
     agreements to be entered into pursuant to the terms of this Agreement and
     the entry into and performance of this Agreement by any of them will not
     constitute a breach of or default under any contractual or government
     obligation binding upon any of them, and none of them are engaged in any
     litigation or arbitration proceedings which would have an adverse effect
     upon the capacity or ability of any of them to perform their respective
     obligations under this Agreement and, as far as the Seller is aware, no
     such legal or arbitration proceedings have been threatened against any of
     them.

2.2  The Hardware Business is not carried on by or for the benefit of any
     person, firm or corporation other than the Seller or Seller's Group.

3.   RECORDS

3.1  Accounting and Other Records

     3.1.1 All books, accounts and records required by law to be maintained in
          connection with the Hardware Business have at all times been properly
          maintained and are properly written up to date and will be so kept up
          to Completion and all returns and payments for the purposes of VAT
          have been made.

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     3.1.2 All such books, accounts and records referred to in paragraph 3.1.1
          duly and accurately record all matters required by law to be entered
          therein and accurately present and reflect in accordance with
          generally accepted accounting principles and standards all
          transactions entered into in relation to the Hardware Business.

3.2  Accounts

     The Accounts supplied by the Seller to the Buyer:

     3.2.1 comply with generally accepted accounting principles and standards
          and give a true and fair view of and properly reflect the financial
          position of the Hardware Business as at the Balance Sheet Date (having
          excluded all inter company revenues) and are not affected by any
          unusual or non-recurring items unless otherwise expressly stated
          therein;

     3.2.2 fully disclose all assets and make reserve against all assets and
          fully provide for all liabilities (whether or not quantified or
          disputed) and fully provide (or disclose by way of note) for all
          contingent liabilities at the Balance Sheet Date.

3.3  Valuation of Stock and Work-in-Progress

     The accounting policies and bases and the method of valuing stock and
     work-in-progress used in the preparation of the Accounts were the same as
     those adopted in the accounts of the Hardware Business for the immediately
     preceding three financial periods. Any slow-moving stock and
     non-recoverable work-in-progress included in the Accounts was written down
     appropriately and any redundant or obsolete stock included in the Accounts
     was wholly written-off and the value attributed to the remaining stock and
     the raw material included in work-in-progress and finished stock did not
     exceed the lower of cost and net realisable value as at the Balance Sheet
     Date.

4.   CHANGES SINCE THE BALANCE SHEET DATE

4.1  Since the Balance Sheet Date the Hardware Business has in all material
     respects been carried on in the ordinary and usual course both as regards
     the nature, scope and manner of conducting the same and;

     4.1.2 the Hardware Business has paid its creditors within the times agreed
          with such creditors (save for any persons to which it owes less than
          (pound)1,000) and there are no debts outstanding which have been due
          for more than 60 days;

     4.1.3 there has been no unusual change in stock levels of the Hardware
          Business;

     4.1.4 the Hardware Business has not been adversely affected by the loss of
          or material reduction in orders from any customer or the loss of or
          material reduction in any source of supply or by any abnormal factor
          not affecting similar businesses and after making due and careful
          enquiries the Seller is not aware of any facts which are likely to
          give rise to any such adverse effects;

     4.1.5 no alterations have been made in the terms of employment or
          conditions of service of any Employee or in the pension or other
          benefits of any Employee or any officer or employee of the Hardware
          Business or any other dependants;

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     4.1.6 none of the fixed assets of the Hardware Business shown in the
          Accounts and none acquiried by the Seller since the Balance Sheet Date
          have been lost, damaged or destroyed;

     4.1.7 there has been no material adverse change in the financial position
          or trading prospects of the Hardware Business.

     4.1.8 the Seller has not done or omitted to do anything which might
          materially and prejudicially affect the Goodwill.

5.   TITLE TO THE ASSETS

5.1  The Assets comprise all assets now used in the Hardware Business and which
     are necessary for the continuation of the Hardware Business as carried on
     prior to Completion. No member of the Seller's Group hold any other assets
     which relate or are used by the Hardware Business in particular there are
     no other trade marks other than the Trade Marks and the Baltimore Trade
     Marks used in the Hardware Business immediately prior to Completion.

5.2  The Seller has good title to, and has in its possession and under its
     control, all of the Assets which are sold free from any charge, lien,
     encumbrance, equity, agreement of hire or hire purchase or for payment on
     deferred terms, bill of sale or any obligation to pay any outstanding sums
     in respect of them and no person other than the Seller has or claims any
     rights in relation to the Assets.

5.3  [Intentionally left blank]

5.4  The Customer Contracts are the only contracts entered into prior to the
     Completion Date by or on behalf of the Seller with customers for the sale
     or hire of goods or equipment or provision of services by the Seller in
     connection with the Hardware Business which at Completion remain to be
     performed in whole or in part by the Seller.

5.5  The Leasing/Hire Agreements are the only leasing, hire, hire agreements or
     conditional sale agreements relating to the Hardware Business existing at
     the Completion Date. The schedule of leased assets, applicable lease
     payments, terms of leasing periods and secondary leasing periods set out in
     the Disclosure Letter is true, complete and accurate in all respects.

5.6  The supplier contracts which are set out in the Disclosure Letter are the
     only contracts, engagements and orders entered into prior to the Completion
     Date by or on behalf of the Seller for the supply or sale of goods or
     services in connection with the Hardware Business which at Completion
     remain to be performed in whole or in part by the Seller.

6.   THE BUSINESS CONTRACTS

Intentionally left blank

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6.2  Full Force

     All the Business Contracts are in full force and effect and have been duly
     complied with in all material respects by the Seller (and as far as the
     Seller is aware by third parties ) and, as far as the Seller is aware,
     nothing has occurred whereby any of them is or would be subject to early
     termination or which has given or would give rise to any claim under any of
     them by any party to any of them. The Business Contracts are freely
     assignable.

6.3  Nature of the Business Contracts

     All the terms of each of the Business Contracts have been fully disclosed
     in the Disclosure Letter and none of the Contracts:

     6.3.1 was entered into otherwise than in the ordinary and usual course of
          the Hardware Business;

     6.3.2 are not fully on an arm's length basis.

     6.3.3 is of a long term nature (that is to say is for a fixed term of more
          than six months or incapable of performance in accordance with its
          terms within six months after the date on which it was entered into or
          undertaken);

     6.3.4 is incapable of termination in accordance with its terms by the
          Seller on 60 days' notice or less;

     6.3.5 is of a loss making nature (that is to say, will result in a loss to
          the Seller on completion of performance):

     6.3.6 cannot readily be fulfilled or performed by the Seller on time
          without undue or unusual expenditure of money or effort;

     6.3.7 involves payment by the Seller by reference to fluctuations in the
          index of retail prices or any other index or in the rate of exchange
          for any currency;

     6.3.8 involves the supply of goods the aggregate sales value of which will
          represent in excess of 10 per cent of the anticipated turnover of the
          Hardware Business in the 12 months following Completion.

7.   ASSETS

The Assets are adequate for and fit for and not surplus to the requirements of
the Hardware Business and are in good repair and condition and working order
(fair wear and tear excepted) and have been regularly maintained.

8.   THE STOCK

The Stock is sufficient for the normal requirements of the Hardware Business and
relates exclusively to the Hardware Business and is in good condition (fair wear
and tear excepted) and, in the case of completed goods, is capable of being sold
in the ordinary course of Hardware Business. No member of the Seller's Group
hold any Stock which relates to the Hardware Business.

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9.   EMPLOYEES

9.1  Particulars of Employees and Terms of Employment

     9.1.1 No person is employed or engaged in the Hardware Business (whether
          under a contract of service or contract for services) other than the
          Employees and the Employees are all employed directly by the Seller
          and each of the Employees is employed exclusively in the Hardware
          Business.

     9.1.2 The Seller has disclosed in the Disclosure Letter copies of all
          service contracts and contracts for services (including all
          information required by law to be included in particulars of terms of
          employment) and full particulars of the current terms of employment or
          engagement of all Employees of the Hardware Business are set out in
          the table of terms and conditions of employment of the Employees set
          out at Schedule E of the Disclosure Letter .

     9.1.3 In respect of each of the Employees the Seller has:

          (a)  performed all obligations and duties required to be performed by
               it (and has settled all outstanding claims and debts), whether
               arising under contract, statute, at common law or in equity; and

          (b)  complied with its obligations under Regulation 10 of the Transfer
               Regulations.

     9.1.4 The Seller has not offered any contract of employment or contract for
          services to any person (except to any of the Employees) and there is
          not now outstanding any contract of service or for services with any
          of the Employees of the Hardware Business which is not determinable by
          the Seller at any time on one month's notice or less without
          compensation (other than under the Employment Rights Act 1996) or any
          liability (other than for salary, wages, commission or pension) on the
          part of the Hardware Business to or for the benefit of any person who
          is an Employee of the Hardware Business.

     9.1.5 The Seller has not offered, promised or agreed for the future any
          material variation in any contract of employment or any contract for
          services in respect of the Employees or any other person employed by
          the Seller in respect of whom liability is deemed by the Transfer
          Regulations to pass to the Buyer.

     9.1.6 The Seller has paid to the Inland Revenue and any other appropriate
          authority all taxes, National Insurance contributions and other levies
          due in respect of the Employees in respect of their employment by the
          Seller up to the Completion Date.

     9.1.7 There are no enquiries or investigations existing, pending or
          threatened into the Seller or the Hardware Business by the Equal
          Opportunities Commission or the Commission for Racial Equality or
          other similar authorities.

     9.1.8 No Employee of the Hardware Business has given or received notice
          terminating his employment or engagement in connection with the
          Hardware Business and, so far as the Seller is aware, no Employee of
          the Hardware Business is entitled

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          or intends or is likely to terminate such employment or engagement as
          a result of the parties entering into this Agreement or Completion.

     9.1.9 There is no person previously employed by the Seller in the Hardware
          Business who now has or may in the future have a right to return to
          work (whether for reasons connected with maternity leave or absence by
          reason of illness or incapacity or otherwise) or a right to be
          reinstated or re-engaged in the Hardware Business or to any other
          compensation.

     9.1.10 [intentionally left blank]

     9.1.11 Save as set out in the Disclosure Letter, there are not in existence
          and the Seller has not proposed or is not proposing to introduce any
          bonus, profit-sharing scheme, share option scheme, share incentive
          scheme or any other scheme or arrangement under which the Employees or
          any of them are or is or would be entitled to participate in the
          profits of the Hardware Business. No indication has been given to any
          of the Employees that any retention bonuses paid to them previously
          would give rise to an entitlement on their behalf to be paid such
          bonuses in the future and payment of retention bonuses does not form
          part of the Employees' contracts of employment. The Option Arrangement
          is the only share option scheme pursuant to which the Employees have
          any entitlement to receive share options or any other entitlement of
          any nature whatsoever in the capital of their employer.

     9.1.12 [intentionally left blank]

     9.1.13 The Seller is not engaged or involved in any dispute, claim or legal
          proceedings (whether arising under contract, common law, statute or in
          equity) with any of the Employees, nor with any other person employed
          by the Seller in respect of whom liability is deemed to pass to the
          Buyer by virtue of the Transfer Regulations and so far as the Seller
          is aware there is no likelihood of any such dispute, claim or
          proceedings arising at any time.

     9.1.14 There is no industrial action or dispute existing or, so far as the
          Seller is aware, threatened or anticipated in respect of or concerning
          any of the Employees.

     9.1.15 Save as set out in the Disclosure Letter there are no agents or
          distributors of the Hardware Business and there are no persons, firms
          or companies whether in the United Kingdom or elsewhere with whom
          formal or informal arrangements exist or have existed concerning the
          manufacture, sale, distribution, hire, lease or promotion of any goods
          or services connected with the Hardware Business and no such agent or
          distributor has any right to any indemnity or compensation whatsoever
          upon termination of any arrangement in connection with the Hardware
          Business.

     9.1.16 There are no joint venture agreements, sales agreements,
          market-sharing agreements or other arrangements relating to the
          Hardware Business whereby the right to carry on the Hardware Business
          in any part of the world is in any way limited or subject to
          particular terms or conditions.

9.2  Labour Relations

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     9.2.1 The Seller has not recognised any trade union, works/ staff councils
          or association of trade unions or any other organisation of employees
          in respect of the Employees or any of them.

     9.2.2 There is no collective agreement or other agreement or arrangement
          (whether in writing, or by custom and practice) with any trade union,
          staff association, staff works council or other organisation of
          employees in relation to the Hardware Business and the Seller is not
          involved or so far as the Seller is aware likely to be involved in
          connection with the Hardware Business in any industrial or trade
          dispute or negotiation with any trade union or other organisation of
          employees.

10.  INSURANCE

10.1 All the Assets are and have at all material times been insured to their
     full replacement or reinstatement value in accordance with generally
     accepted practice with a reputable insurer against fire and all other risks
     customarily insured against by persons carrying on a similar business to
     the Hardware Business.

10.2 Full particulars have been disclosed in the Disclosure Letter of all such
     insurances and there are no outstanding claims or circumstances likely to
     give rise to a claim thereunder and nothing has been done or omitted to be
     done which has made or would make any policy of insurance void or voidable
     or whereby its renewal may be refused or its premiums are likely to be
     materially increased.

10.3 None of the such policies of insurance is subject to any special or unusual
     terms or restrictions or to the payment of any premium in excess of the
     normal rates .

11.  STATUTORY RESTRICTIONS

Intentionally left blank

11.1 So far as the Seller is aware, it is not and has not been, in relation to
     the Hardware Business, a party to any agreement, practice or arrangement
     which in whole or in part is in contravention of any anti-trust or similar
     legislation and which:

     11.1.1 contravenes any of the provisions of the Restrictive Trade Practices
          Acts 1976 and 1977 (or is subject to registration under those Acts),
          the Resale Prices Act 1976, the Trade Descriptions Acts 1968 and 1972,
          the Fair Trading Act 1973, the Competition Act 1980 or the Competition
          Act 1998 (or is notifiable under such Act);

     11.1.2 contravenees any of the provisions of the European Communities Act
          1972 or Articles 85 or 86 of the EC Treaty (or any regulations or
          directives made pursuant to the Treaty) or the EEA Agreement; or

     11.1.3 contravenes any other anti-trust, anti-monopoly or anti-cartel
          legislation or consumer law, Act, Regulation, Order or the like made
          in or pertaining to the United Kingdom or other relevant territory.

11.2 Intentionally left blank

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11.3 No investigations or enquiries by or on behalf of any governmental or other
     body in respect of the Hardware Business are, so far as the Seller is
     aware, pending or in existence and the Hardware Business is not subject to
     any undertaking or order under United Kingdom or EC competition legislation
     or from any other regulatory body under the competition legislation in any
     other jurisdiction in which the Hardware Business is conducted.

12.  DEFECTIVE PRODUCTS/ SERVICES

There are no outstanding claims against the Seller in respect of defects in
quality or delays in delivery or completion of contracts or deficiencies of
design or performance of equipment or otherwise relating to liability for goods
or services supplied or to be supplied by the Seller in the course of the
Hardware Business which may be material to the Hardware Business and no such
claims are threatened or anticipated.

13.  LITIGATION

13.1 Save as claimant in proceedings for the collection of debts arising in the
     ordinary course of the Hardware Business, the Seller is not engaged in or
     subject to any civil, criminal or arbitration proceedings in relation to
     the Hardware Business or the Assets or any of them, and so far as the
     Seller is aware (i) there are no such proceedings pending or threatened by
     or against the Seller, (ii) there are no facts or circumstances which would
     give rise to any such proceedings and (iii) there are no judgments
     outstanding against the Seller which adversely affect or might affect any
     of the Hardware Business or the Assets.

13.2 Details of all material customer claims, complaints or returns relating to
     the Hardware Business that have occurred during the 12 months proceeding
     the Completion Date have been disclosed in the Disclosure Letter.

14.  INSOLVENCY OF SELLER

14.1 No order has been made or petition presented, meeting convened or
     resolution passed for the winding up of the Seller nor has any receiver
     been appointed or any distress, execution or other process been levied in
     respect of either the whole or part of the Hardware Business or the Assets
     or any of them.

14.2 No composition in satisfaction of the debts of the Seller or scheme of
     arrangement of its affairs or compromise or arrangement between it and
     either or both of its creditors or members or any class of either or both
     of its creditors or members has been proposed, sanctioned or approved.

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15.  COMPLIANCE

15.1 All applicable laws, regulations, orders, provisions, directions and
     conditions and other requirements having the force of law relating to the
     Assets or the conduct of the Hardware Business have been duly complied with
     in all respects.

15.2 All necessary licences, consents, permits, agreements, arrangements and
     authorities (public and private) have been obtained in respect of the
     Assets (or any of them) and in respect of the hardware Business to enable
     the Seller to carry on the Hardware Business effectively in the manner in
     which it is now carried on and all such licences, consents, permits,
     agreements, arrangements and authorities are valid and subsisting and the
     Seller knows of no reason why any of them should be suspended, cancelled or
     revoked or the benefit of them should not continue to be enjoyed by the
     Buyer on or after Completion.

16.  EFFECT OF AGREEMENT

16.1 The execution and delivery of this Agreement and the fulfilment and
     performance of and compliance with the terms of this Agreement do not and
     will not:

     16.1.1 conflict with, violate or result in a breach of the terms,
          provisions or conditions of any of the Hardware Business Contracts or
          any law, undertaking to or judgment, order, injunction or decree of
          any court;

     16.1.2 relieve any person of any contractual or other obligation under any
          of the Hardware Business Contracts or entitle any person to terminate
          any such obligation;

     16.1.3 terminate or make subject to termination or adversely affect from
          the point of view of the Hardware Business its enjoyment of any
          present or future benefit or privilege;

     16.1.4 so far the Seller is aware the result in any customer of or supplier
          to the Hardware Business ceasing to deal or substantially reducing the
          existing level of his dealings with the Hardware Business and the
          Seller is not aware of any intention on the part of any such customer
          or supplier to cease so to deal or so to reduce the existing level of
          such dealings.

                              INTELLECTUAL PROPERTY

1.   Full details of all the Business Intellectual Property are set out in Part
     A and Part B of Schedule 1 and are complete and accurate in all respects.
     All such Business Intellectual Property (including IP Licences) is used,
     enjoyed and exploited exclusively in connection with the Hardware Business.
     There are no patents or patents pending in connection with the Hardware
     Business and save as disclosed in the Disclosure Letter there are no
     copyright in respect of the Business Intellectual Property or other
     Business Intellectual Property agreements.

2.   Save in respect of any Business Intellectual Property which is the subject
     of a valid and enforceable IP Licence which has been granted to the Seller
     (details of which are set out

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     in Part A of Schedule 7 ), the Seller is the sole legal and beneficial
     owner of all Business Intellectual Property (including the subject matter
     thereof) free from all claims, liens, charges, equities, encumbrances,
     licences and adverse rights of any description. No Business Intellectual
     Property used, enjoyed or exploited in connection with the Hardware
     Business is held jointly or in common with any other person.

3.   None of the Business Intellectual Property is subject to any challenge or
     attack by a third party or competent authority. All renewal and
     registration fees for the protection of the registered Business
     Intellectual Property have been paid when due and any fees payable or
     requested in connection with any application to register Business
     Intellectual Property have been paid when due. All of the Business
     Intellectual Property is in full force and effect and the Seller is not
     aware of any person who has or who could have the right to assert any right
     which would be adverse to the rights acquired (or to be acquired) by the
     Buyer hereunder and in particular the Seller is not aware of any
     circumstances which could give rise to any of the registered Trade Marks
     being removed, revoked, annulled, cancelled or declared invalid. The Seller
     has disclosed in the Disclosure Letter full details of any objections to
     any of the Trade Marks which are not yet registered. Save as disclosed in
     the Disclosure Letter, the Seller knows of no other reason why any of the
     Trade Marks which are not yet registered may not proceed to registration.

4.   Accurate and complete particulars are set out in Schedule 7 of all IP
     Licences. All such IP Licences are valid and enforceable. There are no
     other outstanding agreements or arrangements whereby a licence, sub-licence
     or other permission to use has been granted to or by, or is obliged to be
     granted to or by, the Seller in respect of any of the Business Intellectual
     Property owned or used by the Seller, save for those licences or agreements
     set out in Schedule 7. There are no unlicenced users of any of the IP
     Licences set out at Part A of Schedule 7. In the event an individual is
     named as a licence holder, there is no reason the licence holder may not be
     changed after Completion. The terms and conditions of the IP Licences are
     the standard terms and conditions of the particular software provider and
     there are no unusual or onerous terms in such IP Licences.

5.   Neither the Seller nor, so far as the Seller is aware, any other party is
     in breach of any IP Licence and all such licences are in full force and
     effect and will not terminate or be capable of termination by reason of the
     execution and performance of this Agreement. Without prejudice to the
     generality to the foregoing, all IP licences are freely assignable to the
     Buyer and no breach of the IP Licences shall occur by virtue of Completion.

6.   So far as the Seller is aware, none of the activities involved in the
     conduct of the Hardware Business infringe or have infringed any
     Intellectual Property or constitute or have constituted breach of
     confidence, passing off or actionable unfair competition in any
     jurisdiction. So far as the Seller is aware, no such activities give or
     have given rise to any obligation to pay any royalty, fee, compensation or
     any other sum whatsoever.

7.   The Seller is not, and has not within the two years preceding the date of
     this Agreement been, in relation to conduct of the Hardware Business, party
     to or threatened with any legal proceedings relating to any Intellectual
     Property.

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8.   The Seller has in its exclusive possession and control all Business
     Information used, enjoyed or exploited in the Hardware Business (or held
     with a view to such use, enjoyment or exploitation). None of the same is
     known or accessible to any person except the Seller, other than persons who
     have given the Seller written confidentiality undertakings in respect
     thereof that have been disclosed hereunder. The Seller will deliver to the
     Buyer on Completion all necessary documentation, knowledge and information
     so that the Buyer may utilise and exploit the Hardware Business after
     Completion to the same extent as the Seller.

9.   Save in the ordinary course of Hardware Business or with its employees, the
     Seller has not entered into any confidentiality or other agreement, nor is
     subject to any duty, which restricts the free use or disclosure of such
     information as is referred to in paragraph 8 above.

10.  There are no outstanding or, so far as the Seller is aware, potential
     claims against the Seller under any contract or under section 40 of the
     Patents Act 1977 for employee compensation in respect of any Business
     Intellectual Property. Save as set out in the Disclosure Letter, no person
     who has developed, created or customised works in connection with any of
     the Business Intellectual Property can claim any rights of any nature
     whatsoever in the Business Intellectual Property or any part thereof.

11.  Where information of a confidential nature has been developed or acquired
     by the Seller or any member of the Seller's Group for the purposes of the
     Hardware Business in the two-year period prior to the date of this
     Agreement, such information (except insofar as it has fallen into the
     public domain through no fault of the Seller or any member of the Seller's
     Group) has been kept strictly confidential and has not been disclosed
     otherwise than subject to an obligation of confidentiality being imposed on
     the person to whom the information was disclosed. The Seller is not aware
     of any breach of such confidentiality obligations by any third party. The
     Seller has disclosed in the Disclosure Letter all confidentality
     obligations owed by the Seller or any member of the Seller's Group in
     connection with the Hardware Business to third parties and all
     confidentiality obligations owed by third parties to the Seller or any
     member of the Seller's Group in connection with the Hardware Business.

12.  All employees (both past and present) which are or were employed in
     connection with any aspect of the Hardware Business have all received,
     signed and returned to the Seller agreements in the form set out in the
     Disclosure Letter imposing obligations of confidentiality and ownership of
     Business Intellectual Property rights created. All such agreements are
     enforceable in accordance with their terms against such employees.

13.  Save as set out in the Disclosure Letter, neither the Seller or any member
     of the Seller's Group has provided any indemnities to third parties who use
     any of the Business Intellectual Property in connection with such Business
     Intellectual Property which are being assumed as obligations of the Buyer
     hereunder.

14.  All of the source code relating to computer software material to the
     Hardware Business is in the possession or control of the Seller and will,
     following Completion, be in the possession or control of the Buyer.

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                                    PENSIONS

1.   Save as set out in the Disclosure Letter, there are no agreements,
     arrangements, customs or practices (whether legally enforceable or not) for
     the payment of or contribution to any superannuation, pension, life
     assurance, death benefit, sickness or accident benefits schemes or
     arrangements in respect of the Employees in the course of their employment
     in the Hardware Business or their dependants of persons former employed or
     engaged in the Hardware Business and no proposal to establish any such
     scheme or arrangement has been announced to the Employees.

2.   As regards the Seller's Schemes, full and accurate details of the Seller's
     Schemes have been disclosed including in the Disclosure Letter including
     where relevant copies of the Trust Deeds and Rules governing the Seller's
     Schemes:

3.   Full details of the Employees who are members of the Seller's Schemes are
     listed in the Disclosure Letter and no other Employees are or will before
     Completion become members of the Seller's Schemes.

4.   All contributions due to be paid in respect of the Seller's Schemes by the
     Seller and any of its officers or employees have been duly paid, and the
     rates at which contributions are being paid are in accordance with the
     payment schedule relating to the Seller's Schemes where relevant.

5.   The Seller's Schemes are exempt approved scheme within the meaning of
     section 592 of the Income and Corporation Taxes Act 1988 and there is no
     reason why approval may be withdrawn.

6.   All death in service and incapacity benefits provided by the Seller's
     Schemes are fully insured and all insurance premiums due to be paid have
     been duly paid and any claims for the payment of benefit have been
     disclosed in the Disclosure Letter.

7.   No power has been exercised to provide additional benefits in respect of
     any Employee or to admit an Employee to the Seller's Schemes on special
     terms.

8.   There are no actions, proceedings or claims (other than routine claims for
     benefits) outstanding, pending or threatened by the Employees in respect of
     the Seller's Schemes relating to any act, event, omission or other matter
     arising out of or in connection with the Seller's Schemes.

9.   The Seller's Schemes have at all times complied with and been administered
     in accordance with all applicable laws, regulations and requirements where
     relevant.

10.  The Seller's Schemes that are personal pension plans have been set up or
     have been modified to be stakeholder compliant.

                                       64

<PAGE>

                                    TAXATION

1.   The Seller is not involved in any dispute with the Inland Revenue, Customs
     & Excise or other appropriate fiscal authority concerning any matter in any
     way affecting either the Hardware Business or any of the Assets to be
     transferred under this Agreement.

2.   No circumstances exist whereby any power within section 212 of the
     Inheritance Tax Act 1984 could be exercised in relation to any of the
     Assets.

3.   There is no Inland Revenue charge outstanding (or agreement or commitment
     to give or create any charge) over any of the Assets outstanding for unpaid
     inheritance tax as provided by sections 237 and 238 of the Inheritance Tax
     Act 1984.

4.   None of the Assets are or could be subject to the Value Added Tax Capital
     Goods Scheme provided for in Part XV of the Value Added Tax Regulations
     1995 (SI 1995/2518).

5.   Neither the Seller (nor any relevant associate as defined in Schedule 10 of
     the Value Added Tax Act 1994) has elected to waive exemption (or applied
     for written permission to elect) in accordance with that Schedule in
     relation to the Demised Premises (or any of the Assets which constitute an
     interest in or right over land).

6.   None of the Assets are chargeable assets of the Hardware Business which, if
     transferred to a body corporate treated as a member of a group under
     section 43 of the Value Added Tax Act 1994 as a going concern, would give
     rise to a liability on that body corporate or the representative member of
     the group of which that body corporate is a member under section 44 of the
     Value Added Tax Act 1994.

7.   There is no reason why any part of the Consideration payable by the Buyer
     that is apportioned under this Agreement to those of the Assets which are
     plant or machinery for the purposes of Part II of the Capital Allowances
     Act 2001 should not, assuming such apportioned Consideration represents
     capital expenditure incurred for the purposes of the Buyer's trade, qualify
     in full for writing down allowances; none of such Assets are leased (as in
     the meaning of section 105 of such Act); and the Seller accepts that no
     election may be made in respect of any of such Assets pursuant to section
     266 of such Act.

8.   In respect of any Assets which are plant and machinery for the purposes of
     Part II of the Capital Allowances Act 2001 and which are fixtures (as
     defined in section 173 (1) of the Capital Allowances Act 2001) at
     Completion either (a) no person has been or will have become entitled to
     allowances in respect of any Expenditure incurred on the provision of the
     fixture, or (b) if any person has become so entitled that person has been,
     is or will be required to bring the disposal value of the fixture into
     account under section 55 of the Capital Allowances Act.

9.   The Inland Revenue has not agreed to operate any special arrangement (being
     an arrangement which is not based on a strict application of the relevant
     legislation) in relation to the Hardware Business, whether in respect of
     benefits provided to its officers

                                       65

<PAGE>

     or employees, the valuation of its stock, the depreciation of its assets or
     any administrative or other matter whatsoever.

10.  None of the Assets are wasting assets within section 44 of the Taxation of
     Chargeable Gains Act 1992 which do not qualify for capital allowances.

11.  All documents in the possession or under the control of the Seller which
     establish or are necessary to establish the title of the Seller to the
     Assets have been duly stamped and any applicable stamp duties or charges in
     respect of such documents have been duly accounted for and paid, and no
     such documents which are outside the United Kingdom would attract stamp
     duty if they were brought in to the United Kingdom.

                                       66

<PAGE>

                       ENVIRONMENTAL AND HEALTH AND SAFETY

1.   Interpretation

In this Schedule:

     "Environmental Licences"   means any permits, licences, consents or other
                                authorisations required under any Environmental
                                Laws for the operation of the Hardware Business
                                or in relation to the occupation or use of the
                                Demised Premises;

     "Hazardous Substances"     means any material or artificial substance
                                capable of causing Harm to man or the
                                Environment;

     "Harm"                     means harm to the health of living
                                organisms or the Environment, and in
                                the case of man includes offence
                                caused to any of his senses or harm to
                                his property and "harmful" has a
                                corresponding meaning

     "Health and Safety Laws"   means all applicable statutes, statutory
                                legislation, common law, treaties, regulations,
                                directives, codes of practice, guidance notes
                                including but without limitation the Factories
                                Act 1961, the Offices, Shops and Railway
                                Premises Act 1963, the Fire Precautions Act
                                1971, the Health and Safety at Work etc. Act
                                1974 and the Construction (Design and
                                Management) Regulations 1994 concerning the
                                health and safety of those who work for the
                                Hardware Business, whether as employees or
                                otherwise, or are in any way affected by the
                                activities of the Hardware Business or by
                                persons working for the Hardware Business.

Environmental Warranties

2.   Any Environmental Licences of the Seller in relation to the Hardware
     Business are disclosed in the Disclosure Letter and they are in full force
     and effect and so far as the Seller is aware there are no facts, or
     circumstances which may lead to the revocation, suspension, non renewal or
     materially adverse variation of such Environmental Licences.

3.   The Hardware Business has at all times been operated in all material
     respects in compliance with Environmental Laws and the Hardware Business
     comply with all conditions, limitations, obligations, prohibitions and
     requirements contained in any Environmental Laws and so far as the Seller
     is aware there are no facts or circumstances which may lead to any breach
     of Environmental Laws.

4.   All information provided by and on behalf of the Seller to any statutory
     authority and all records and data required to be maintained by the Seller
     under the provisions of any

                                       67

<PAGE>

     Environmental Laws regarding the operation of the Hardware Business or any
     processes carried on at or emissions, discharges or waste disposal made in
     connection with the Hardware Business is complete and accurate in all
     material respects.

5.   Save as set out in the Disclosure Letter, there are no Hazardous Substances
     at, on or under the Demised Premises nor have any Hazardous Substances been
     emitted in connection with the Hardware Business.

6.   Copies of all current environmental policy statements, and to the extent
     the following exist site condition surveys, environmental audit reports and
     assessments, assessment on substances hazardous to health, correspondence
     (including legal notices) between the Seller and any relevant enforcement
     authority, copies or details of any waste disposal contracts and any
     information that is liable to appear on any public register under any
     Environmental Laws whether or not the same is registered relating to the
     Hardware Business and Demised Premises, have been supplied to the Buyer.

Health and Safety Warranties

7.   The Hardware Business complies, in all material respects, with all
     conditions, limitations, obligations, prohibitions and requirements
     contained in any Health and Safety Laws and there are no facts or
     circumstances which would lead to any breach of any Health and Safety Laws
     except where such breach would not cause a material adverse effect to the
     Hardware Business.

8.   The Seller has carried out all necessary risk assessments in respect of the
     Hardware Business as specified under the Health and Safety Laws and the
     current results of any such assessments and any review of such assessments
     have been considered by the Seller in giving these warranties.

9.   A list and copies of of all current health and safety policy statements,
     health and safety reports and assessments, audits, records of accidents and
     reportable diseases, permits, notifications, certificates and records
     required by Health and Safety Laws in respect of the Hardware Business,
     together with any correspondence between the Seller and any relevant
     enforcement authority, including but not limited to the Health and Safety
     Executive and the relevant local authority and which is in respect of the
     Hardware Business, has been supplied to the Buyer.

10.  The Seller has not received any prohibition or improvement notices from any
     enforcement body, including but without limitation the Health and Safety
     Executive and the relevant local authority, with regard to breaches of
     Health and Safety Laws or otherwise in respect of the Hardware Business.

11.  There have been no claims, investigations or proceedings against or
     threatened against the Seller in respect of accidents, injuries, illness,
     disease or any other harm to the health and safety of employees,
     contractors or any other persons caused by breaches of Health and Safety
     Laws or otherwise in respect of the Hardware Business and so far as the
     Seller is aware there are no facts or circumstances which may lead to any
     such claims, investigations or proceedings.

12.  No claims in respect of health and safety have been made or are
     contemplated under the Seller's insurance policies.

                                       68

<PAGE>

13.  All information provided by and on behalf of the Seller to any statutory
     authority and all records and data required to be maintained by the Seller
     under the provisions of any Health and Safety Laws in respect of the
     Hardware Business are complete and accurate in all material respects.

                                       69

<PAGE>

                                   SCHEDULE 11

                                   Stock List

<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------
CC                 Part number   Description                                          Qty
-----------------------------------------------------------------------------------------
<S>                <C>           <C>                                                  <C>
Depot 1000         1010-G10      V24 DTE I/F Cable Assy                                 5
-----------------------------------------------------------------------------------------
Depot 1000         1010-G22      V24 DTE I/F Cable Assy                                 7
-----------------------------------------------------------------------------------------
Depot 1000         1010-G9       V24 DTE I/F Cable Assy                                 5
-----------------------------------------------------------------------------------------
Depot 1000         1018-G5       DTE I/F Cable Assy                                     2
-----------------------------------------------------------------------------------------
Depot 1000         1055-P7       1u Mounting Ear                                       64
-----------------------------------------------------------------------------------------
Depot 1000         1191-G1       European Mains Lead                                   89
-----------------------------------------------------------------------------------------
Depot 1000         1193-G1       UK Mains Lead 2amp                                    52
-----------------------------------------------------------------------------------------
Depot 1000         1194-G1       USA Mains Lead                                        76
-----------------------------------------------------------------------------------------
Depot 1000         1196-G1       UK Filtered Mains Lead                                 1
-----------------------------------------------------------------------------------------
Depot 1000         1432-G1       1.5u Equipment Rack Mount Kit                          6
-----------------------------------------------------------------------------------------
Depot 1000         1436-G5       25 Way Male Loopback Conn.                            80
-----------------------------------------------------------------------------------------
Depot 1000         1976-G1       Rambuten II S/M-Dil Converter                          0
-----------------------------------------------------------------------------------------
Depot 1000         2082-P22      Label (SureWare Net ED20M)                           445
-----------------------------------------------------------------------------------------
Depot 1000         2082-P23      Label (SureWare Keyper)                              519
-----------------------------------------------------------------------------------------
Depot 1000         2082-P26      Label (Baltimore ESP)                                380
-----------------------------------------------------------------------------------------
Depot 1000         2083-P25      SureWare Net ED20M Label                             520
-----------------------------------------------------------------------------------------
Depot 1000         2083-P26      SureWare Net CD20M Label                             500
-----------------------------------------------------------------------------------------
Depot 1000         2086-P8       ED8000RL (N) Unit Label                               19
-----------------------------------------------------------------------------------------
Depot 1000         2086-P9       ED8000RL (M) Label                                    10
-----------------------------------------------------------------------------------------
Depot 1000         2087-P2       Labe - PORT                                           48
-----------------------------------------------------------------------------------------
Depot 1000         2087-P3       Label BNC Port                                         2
-----------------------------------------------------------------------------------------
Depot 1000         2453-P1       1.5u Fascia                                            9
-----------------------------------------------------------------------------------------
Depot 1000         2593-G11      EG Assy Unconfigured                                   4
-----------------------------------------------------------------------------------------
Depot 1000         2593-G12      ED20M Assy Unconfigured                                8
-----------------------------------------------------------------------------------------
Depot 1000         2593-G14      ED20M  Unconfigured                                   90
-----------------------------------------------------------------------------------------
Depot 1000         2593-G23      SureWare Keyper                                       61
-----------------------------------------------------------------------------------------
Depot 1000         2593-G33      CD20M Vertex Build 2 - Comm                            4
-----------------------------------------------------------------------------------------
Depot 1000         2593-G34      CD20M Unconfigured                                    48
-----------------------------------------------------------------------------------------
Depot 1000         2593-G50      SureWare Net Keyper                                    3
-----------------------------------------------------------------------------------------
Depot 1000         2593-G60      SureWare Runner V2                                    23
-----------------------------------------------------------------------------------------
Depot 1000         2612-P25      CD20M Label                                            0
-----------------------------------------------------------------------------------------
Depot 1000         2623-P1       HSM 19" Cabinet Tray                                   9
-----------------------------------------------------------------------------------------
Depot 1000         2653-G1       Omniport for PCI Card                                165
-----------------------------------------------------------------------------------------
Depot 1000         2700-G1       PCI Card Unconfigured                                147
-----------------------------------------------------------------------------------------
Depot 1000         7451-G1       ED2048R3-X21 F/Assy (see PPS)                         28
-----------------------------------------------------------------------------------------
Depot 1000         7606-G1       ED545 K.S.T. F/Assy (see PPS)                          2
-----------------------------------------------------------------------------------------
Depot 1000         7630-G11      ED546 New Magswipe KST Assy                           15
-----------------------------------------------------------------------------------------
Depot 1000         8018-G1       V24 DTE I/F Cable Assy                                 6
-----------------------------------------------------------------------------------------
Depot 1000         8040-G1       CSP To Host I/F Cable Assy                             1
-----------------------------------------------------------------------------------------
Depot 1000         8059-G1       V24 DTE I/F Cable Assy                                 3
-----------------------------------------------------------------------------------------
Depot 1000         8116-G1       DCE I/F Cable V35                                      4
-----------------------------------------------------------------------------------------
Depot 1000         8117-G1       DTE I/F Cable V35                                      4
-----------------------------------------------------------------------------------------
</TABLE>

                                       70

<PAGE>

<TABLE>
-----------------------------------------------------------------------------------------
<S>                <C>           <C>                                                 <C>
Depot 1000         8156-G1       X21 DCE I/F Cable Assy                                12
-----------------------------------------------------------------------------------------
Depot 1000         8166-G1       X21 DCE I/F Cable Assy                                 8
-----------------------------------------------------------------------------------------
Depot 1000         8167-G1       X21 DCE I/F Cable Assy                                 8
-----------------------------------------------------------------------------------------
Depot 1000         8210-G1       V11 Sync.Cable Assy                                    2
-----------------------------------------------------------------------------------------
Depot 1000         9050-G1       ED600RTS X21 F/Assy (see PPS)                         26
-----------------------------------------------------------------------------------------
Depot 1000         9201-G1       CG600R F/Assy (see PPS)                               11
-----------------------------------------------------------------------------------------
Depot 1000         9700-G1       ED8000RL F/Assy (see PPS)                             15
-----------------------------------------------------------------------------------------
Depot 1000         9700-G1       ED000RL (Kits) with Main boards fitted with RIIs      15
-----------------------------------------------------------------------------------------
Depot 1000         AS000072      I.C. 8068-DC Encryptor                               224
-----------------------------------------------------------------------------------------
Depot 1000         AS000142      I.C. MT70093 Algoritham Chip                          58
-----------------------------------------------------------------------------------------
Depot 1000         MS000133      IEC To IDC2m Mains Lead                               68
-----------------------------------------------------------------------------------------
Depot 1000         NS000134      RJ45-RJ45 Ethernet Cable 2mtrs                       117
-----------------------------------------------------------------------------------------
Depot 1000         NS000135      RJ45-RJ45 Crossover Cable 2mtrs                      119
-----------------------------------------------------------------------------------------
Depot 1000         OS000014      Tyrap 186mm TYB25M Nylon b                          1000
-----------------------------------------------------------------------------------------
Depot 1000         OS000063      Self Adhesive Cable Clip                            5667
-----------------------------------------------------------------------------------------
Depot 1000         SS000027      Freezer Spray                                         11
-----------------------------------------------------------------------------------------
Depot 1000         SS000039      Proclean Flux Remover                                 24
-----------------------------------------------------------------------------------------
Depot 1000         SS000043      Foam Cleaner                                           8
-----------------------------------------------------------------------------------------
Depot 1000         TS000297      Steel Laminated Padlock                               15
-----------------------------------------------------------------------------------------
Depot 1000         TS000453      CrytWare Board                                         0
-----------------------------------------------------------------------------------------
Depot 1000         TS000462      Scot 60 Smart Card                                   288
-----------------------------------------------------------------------------------------
Depot 1000         TS000468      Smart Card (Interlink)                                22
-----------------------------------------------------------------------------------------
Depot 1000         TS000470      BABT Label (60566B)                                   26
-----------------------------------------------------------------------------------------
Depot 1000         TS000477      Spacer - Nylon M3x13 Round                             0
-----------------------------------------------------------------------------------------
Depot 1000         TS000489      Utimaco CARDMAN II                                    37
-----------------------------------------------------------------------------------------
Depot 1000         TS000492      CrytWare Card                                          0
-----------------------------------------------------------------------------------------
Depot 1000         TS000493      Osonpack Carton & Inserts                             16
-----------------------------------------------------------------------------------------
Depot 1000         TS000494      Osonpack Inserts                                       0
-----------------------------------------------------------------------------------------
Depot 1000         TS000499      Special Smart Card (Interlink)                         2
-----------------------------------------------------------------------------------------
Depot 1000         TS000518      MCOS-B Smart Card                                    214
-----------------------------------------------------------------------------------------
Depot 1000         TS000528      MCOS-B 16K DES Smartcards                           1316
-----------------------------------------------------------------------------------------
Depot 1000         TS000544      SPU41-14 Power Supply Unit                           419
-----------------------------------------------------------------------------------------
Depot 1000         TS000555      Osonpack Carton & Inserts                             50
-----------------------------------------------------------------------------------------
Depot 1000         TS000557      GemPKCS8000 Smartcard 8K                             277
-----------------------------------------------------------------------------------------
Depot 1000         TS000558      MP-EMV 128K Smartcard                                 13
-----------------------------------------------------------------------------------------
Depot 1000         TS000559      MP-EMV 16K Smartcard                                  42
-----------------------------------------------------------------------------------------
Depot 1000         TS000560      Temp Label Irreversible (H)                          763
-----------------------------------------------------------------------------------------
Depot 1000         TS000561      Temp Label Irreversible (L)                          289
-----------------------------------------------------------------------------------------
Depot 1000         TS000562      Printed Tamper-Evident Bag                          1200
-----------------------------------------------------------------------------------------
Depot 1000         TS000563      M70x30mm Tamper Label                               2200
-----------------------------------------------------------------------------------------
Depot 1000         TS000564      MPEMV 64 K Gemplus Smart Card                         30
-----------------------------------------------------------------------------------------
Depot 1000         TS000573      AAK Back Up Smart Card Yellow                        864
-----------------------------------------------------------------------------------------
Depot 1000         TS000574      SMK Back UP Smart Card Blue                          310
-----------------------------------------------------------------------------------------
Depot 1000         TS000575      Secuity Officer Smart Card                           128
-----------------------------------------------------------------------------------------
Depot 1000         TS000576      Application Key Backup Smart                         704
-----------------------------------------------------------------------------------------
Depot 1000         TS000577      Yellow Case Sticker - Warning                        212
-----------------------------------------------------------------------------------------
Depot 1000         TS000578      Yellow Packing Label - Warning                       500
-----------------------------------------------------------------------------------------
Depot 1000         TS000579      PCI Card Packaging                                    62
-----------------------------------------------------------------------------------------
Depot 1000         TS000587      Seciko Logo Label 20x40mm                             70
-----------------------------------------------------------------------------------------
Depot 1000         TS000588      sKeyper Pro I Label                                  175
-----------------------------------------------------------------------------------------
</TABLE>

                                       71

<PAGE>

<TABLE>
-----------------------------------------------------------------------------------------
<S>                <C>           <C>                                                  <C>
Depot 1000         TS000589      sKeyper Pro II Label                                 180
-----------------------------------------------------------------------------------------
Depot 1000         TS000590      Tamper Evident Label Silver                          880
-----------------------------------------------------------------------------------------
Depot 1000         TS000591      VCCI Label Provided By Seiko                         900
-----------------------------------------------------------------------------------------
Depot 1000         TS000592      Seiko Tamper Evident Bag                             418
-----------------------------------------------------------------------------------------
Depot 1000         TS000593      Seiko Packaging - Osonpack                            50
-----------------------------------------------------------------------------------------
Depot 1000         TS000594      Seiko Packaging Label                                900
-----------------------------------------------------------------------------------------
Depot 1000         TS000595      Seiko Smart Card AAK Backup                           70
-----------------------------------------------------------------------------------------
Depot 1000         TS000596      Seiko Smart Card SMK Backup                          190
-----------------------------------------------------------------------------------------
Depot 1000         TS000597      Seiko Smart Card S O                                  62
-----------------------------------------------------------------------------------------
Depot 1000         TS000598      Seiko Smart Card APP Key                              10
-----------------------------------------------------------------------------------------
Depot 1000         WS000002      M3 Nut Hex Full Steel                                  0
-----------------------------------------------------------------------------------------
Depot 1000         WS000003      M6 Captured Nut                                       18
-----------------------------------------------------------------------------------------
Depot 1000         XS000010      Clear Packing Tape                                    10
-----------------------------------------------------------------------------------------
Depot 1000         YS000004      M3x10 Screw Pozi Pan Black                            26
-----------------------------------------------------------------------------------------
Depot 1000         YS000010      M3 Spring Washer (Black)                              64
-----------------------------------------------------------------------------------------
Depot 1000         YS000016      M6 FP Screw & Washer Kit                              32
-----------------------------------------------------------------------------------------
Depot 1000         YS000059      M3 Washer Form-a-steel                                 0
-----------------------------------------------------------------------------------------
Depot 1000         YS000104      M4 Washer Spring Sq/Sec                              124
-----------------------------------------------------------------------------------------
Depot 1000         ZHSP4010      Baltimore HSP4010 (Zergo)                              3
-----------------------------------------------------------------------------------------
Depot 1000 Total
-----------------------------------------------------------------------------------------

-----------------------------------------------------------------------------------------
Depot 8000         2593-G13      ED20M Enhanced (ED20M)                                 5
-----------------------------------------------------------------------------------------
Depot 8000         2593-G14      ED20M Enhanced (ED20M)                                12
-----------------------------------------------------------------------------------------
Depot 8000         2593-G21/22   SureWare Keyper                                       19
-----------------------------------------------------------------------------------------
Depot 8000         2593-G23      SureWare Keyper                                        1
-----------------------------------------------------------------------------------------
Depot 8000         2593-G23      SureWare Keyper                                       22
-----------------------------------------------------------------------------------------
Depot 8000         2653-G1       CD20M Commercial (CD20M)                              10
-----------------------------------------------------------------------------------------
Depot 8000         2700-G1       Omniport                                               2
-----------------------------------------------------------------------------------------
Depot 8000         2593-G11/12   PCI Card                                               2
-----------------------------------------------------------------------------------------
Depot 8000         2593-G60      Sureware Runner V2                                     2
-----------------------------------------------------------------------------------------
Depot 8000
-----------------------------------------------------------------------------------------
Depot 8000         2593-G13      ED20M Enhanced (ED20M)                                 8
-----------------------------------------------------------------------------------------
Depot 8000         2593-G14      ED20M Enhanced (ED20M)                                 1
-----------------------------------------------------------------------------------------
Depot 8000         2593-G23      SureWare Keyper                                        1
-----------------------------------------------------------------------------------------
Depot 8000         2593-G23      SureWare Keyper                                        5
-----------------------------------------------------------------------------------------
Depot 8000         2653-G1       CD20M Commercial (CD20M)                               6
-----------------------------------------------------------------------------------------
Depot 8000         2593-G11/12   Old ED20M                                              5
-----------------------------------------------------------------------------------------
Depot 8000         2593-G60      Sureware Runner V2                                     0
-----------------------------------------------------------------------------------------
Depot 8000 Total
-----------------------------------------------------------------------------------------

-----------------------------------------------------------------------------------------
Depot 9002         2593-G14      ED20M Unconfigured                                     7
-----------------------------------------------------------------------------------------
Depot 9002         2593-G21      SureWare Keyper                                        0
-----------------------------------------------------------------------------------------
Depot 9002         2593-G22      SureWare Keyper                                        0
-----------------------------------------------------------------------------------------
Depot 9002         2593-G23      SureWare Keyper                                       13
-----------------------------------------------------------------------------------------
Depot 9002         2653-G1       Omniport for PCI Card                                  1
-----------------------------------------------------------------------------------------
Depot 9002 Total
-----------------------------------------------------------------------------------------

-----------------------------------------------------------------------------------------
Stonewood          070000-P1     ED8000 Main PCB Fab. 2501-P1-A                        56
-----------------------------------------------------------------------------------------
Stonewood          170010-P1     Baltimore PSU Heatsink                                 5
-----------------------------------------------------------------------------------------
Stonewood          AS000001      I.C. Line Driver (CofC)                               26
-----------------------------------------------------------------------------------------
</TABLE>

                                       72

<PAGE>

<TABLE>
-----------------------------------------------------------------------------------------
<S>                <C>           <C>                                                  <C>
Stonewood          AS000002      I.C. Line Receiver (CofC)                            100
-----------------------------------------------------------------------------------------
Stonewood          AS000003      I.C. 74HC00N Quad 2IP Nand                            24
-----------------------------------------------------------------------------------------
Stonewood          AS000005      I.C. 74HC02N Quad 2IP NOR                              3
-----------------------------------------------------------------------------------------
Stonewood          AS000012      I.C. MC74HC14AN Hex Inverter                          13
-----------------------------------------------------------------------------------------
Stonewood          AS000014      I.C. 74HC32N Quad 2IP OR                              47
-----------------------------------------------------------------------------------------
Stonewood          AS000015      I.C. 74HC74N Dual D-F/Flop                            76
-----------------------------------------------------------------------------------------
Stonewood          AS000017      I.C. 74HC86N Quad 2IP XOR                              1
-----------------------------------------------------------------------------------------
Stonewood          AS000022      I.C. MC74HC138AN 1of8 Decoder                          7
-----------------------------------------------------------------------------------------
Stonewood          AS000027      I.C. 74HC153N Dual 4I/P                               22
-----------------------------------------------------------------------------------------
Stonewood          AS000033      I.C. MC74HC245N Octal Bus TX                          37
-----------------------------------------------------------------------------------------
Stonewood          AS000034      I.C. SN74LS245N Octal Bus                             15
-----------------------------------------------------------------------------------------
Stonewood          AS000044      I.C. 74HC541N Octal DR RR                             57
-----------------------------------------------------------------------------------------
Stonewood          AS000046      I.C. SN74HC595N Shift Reg.                            39
-----------------------------------------------------------------------------------------
Stonewood          AS000047      I.C. MM74HC4050N Hex Buffer                           87
-----------------------------------------------------------------------------------------
Stonewood          AS000049      I.C. Line Driver (CofC)                                4
-----------------------------------------------------------------------------------------
Stonewood          AS000065      I.C. Z8002-PS Unprocessor                             16
-----------------------------------------------------------------------------------------
Stonewood          AS000066      I.C. Z0803006-PSC Serial Cont.                         7
-----------------------------------------------------------------------------------------
Stonewood          AS000085      I.C. ICL7665SCPA Volt Detector                         2
-----------------------------------------------------------------------------------------
Stonewood          AS000088      I.C. MC74HC573AN Octal Latch                           6
-----------------------------------------------------------------------------------------
Stonewood          AS000123      I.C. 74HC574N Octal D-F/Flop                           4
-----------------------------------------------------------------------------------------
Stonewood          AS000136      I.C. Z8036-PS CIO Timer                               30
-----------------------------------------------------------------------------------------
Stonewood          AS000156      I.C. CD74HC40105E HCMOS FIFO                          50
-----------------------------------------------------------------------------------------
Stonewood          AS000160      I.C. ICL7665ACPA Volt Detector                         4
-----------------------------------------------------------------------------------------
Stonewood          AS000164      I.C. Z800210PSC-BPS                                   53
-----------------------------------------------------------------------------------------
Stonewood          AS000166      I.C. UPD43256BCZ-70LL CMOS RAM                         1
-----------------------------------------------------------------------------------------
Stonewood          AS000184      I.C. 27C256 200ns EPROM                               30
-----------------------------------------------------------------------------------------
Stonewood          AS000185      I.C. 14C89A                                           33
-----------------------------------------------------------------------------------------
Stonewood          AS000186      I.C. HD6321P                                           4
-----------------------------------------------------------------------------------------
Stonewood          AS000188      I.C. HD63B50P                                         37
-----------------------------------------------------------------------------------------
Stonewood          AS000190      I.C. M273A-2F1 EPROM                                   4
-----------------------------------------------------------------------------------------
Stonewood          AS000192      I.C. 7201-AC                                         111
-----------------------------------------------------------------------------------------
Stonewood          AS000193      I.C. MC68000P8                                        31
-----------------------------------------------------------------------------------------
Stonewood          AS000194      I.C. 8x32k CMOS                                        5
-----------------------------------------------------------------------------------------
Stonewood          AS000197      I.C. 74HCT04N Hex Inverter                            27
-----------------------------------------------------------------------------------------
Stonewood          AS000198      I.C. 74HCT04                                         178
-----------------------------------------------------------------------------------------
Stonewood          AS000200      I.C. 74HCT86                                          36
-----------------------------------------------------------------------------------------
Stonewood          AS000201      I.C. 74HCT138                                         34
-----------------------------------------------------------------------------------------
Stonewood          AS000202      I.C. 74HCT147                                         44
-----------------------------------------------------------------------------------------
Stonewood          AS000203      I.C. 74HCT157                                         54
-----------------------------------------------------------------------------------------
Stonewood          AS000204      I.C. 74HCT164                                         29
-----------------------------------------------------------------------------------------
Stonewood          AS000205      I.C. 74HCT244                                         77
-----------------------------------------------------------------------------------------
Stonewood          AS000206      I.C. 74HCT273                                         17
-----------------------------------------------------------------------------------------
Stonewood          AS000208      I.C. 7417 15v Hex                                     37
-----------------------------------------------------------------------------------------
Stonewood          AS000209      I.C. 74LS30                                          309
-----------------------------------------------------------------------------------------
Stonewood          AS000210      I.C. 74LS244                                          21
-----------------------------------------------------------------------------------------
Stonewood          AS000211      I.C. 74LS260                                         319
-----------------------------------------------------------------------------------------
Stonewood          AS000212      I.C. MM74HC132N Quad 2IP TRG                         185
-----------------------------------------------------------------------------------------
Stonewood          AS000213      I.C. HEF4541BP Prog Timer                             19
-----------------------------------------------------------------------------------------
Stonewood          AS000215      I.C. 14C88 Line Driver                                 3
-----------------------------------------------------------------------------------------
Stonewood          AS000216      I.C. MC68HC11AOP Processor                             2
-----------------------------------------------------------------------------------------
</TABLE>

                                       73

<PAGE>

<TABLE>
-----------------------------------------------------------------------------------------
<S>                <C>           <C>                                                 <C>
Stonewood          AS000221      I.C. M74HC4078B 8-input NOR/OR                         1
-----------------------------------------------------------------------------------------
Stonewood          AS000228      I.C. 74HC165N 8-bit PISO S-R                           1
-----------------------------------------------------------------------------------------
Stonewood          AS000229      I.C. MM74HC597N 8bit PISO S-R                        362
-----------------------------------------------------------------------------------------
Stonewood          AS000231      I.C. MC74AC04N Hex Inverter                            4
-----------------------------------------------------------------------------------------
Stonewood          AS000233      I.C. 74AC74 Dual D-F/Flop                             17
-----------------------------------------------------------------------------------------
Stonewood          AS000234      I.C. MC74ACT138N 1of8 Decoder                         61
-----------------------------------------------------------------------------------------
Stonewood          AS000236      I.C. HM6264BLP-10C 120ns RAM                          32
-----------------------------------------------------------------------------------------
Stonewood          AS000237      I.C. Z80C3008PSC SCC                                  27
-----------------------------------------------------------------------------------------
Stonewood          AS000239      I.C. CY7C420-25PC CMOS FIFO                           33
-----------------------------------------------------------------------------------------
Stonewood          AS000245      I.C. M27C256B-15F1 EPROM                               4
-----------------------------------------------------------------------------------------
Stonewood          AS000256      I.C. 74LS151                                           5
-----------------------------------------------------------------------------------------
Stonewood          AS000271      I.C. MAX690CPA WatchDog CCT                           68
-----------------------------------------------------------------------------------------
Stonewood          AS000272      I.C. DS12887 Real Time Clock                          28
-----------------------------------------------------------------------------------------
Stonewood          AS000275      I.C. CD74AC573E Octal Latch                          104
-----------------------------------------------------------------------------------------
Stonewood          AS000282      I.C. 74HCT541N Octal Driver RR                        42
-----------------------------------------------------------------------------------------
Stonewood          AS000298      I.C. Line Receiver (CofC)                              6
-----------------------------------------------------------------------------------------
Stonewood          AS000299      I.C. EP610PC-30 EPROM PAL                              1
-----------------------------------------------------------------------------------------
Stonewood          AS000319      I.C. SN74HCT74AN                                      15
-----------------------------------------------------------------------------------------
Stonewood          AS000367      I.C. Line 3D/3R (Cof C)                               34
-----------------------------------------------------------------------------------------
Stonewood          AS000369      I.C. EP910IPC-25 Altera                                6
-----------------------------------------------------------------------------------------
Stonewood          AS000376      I.C. AM8304B                                          10
-----------------------------------------------------------------------------------------
Stonewood          AS000380      I.C. N74F245N Bi-Dir Buffer                           17
-----------------------------------------------------------------------------------------
Stonewood          AS000381      I.C. 74HC7030 HCMOS FIFO                              17
-----------------------------------------------------------------------------------------
Stonewood          AS000400      I.C. LM393N Low Offset                                83
-----------------------------------------------------------------------------------------
Stonewood          AS000401      I.C. UC3845AN                                        122
-----------------------------------------------------------------------------------------
Stonewood          AS000402      I.C. CNYY17F-3 OPT1                                  520
-----------------------------------------------------------------------------------------
Stonewood          AS000403      I.C. TL431CLP                                         14
-----------------------------------------------------------------------------------------
Stonewood          AS000567      I.C. DS1286 Dallas                                    40
-----------------------------------------------------------------------------------------
Stonewood          AS000570      I.C. PE64502 E/Net Transformer                       131
-----------------------------------------------------------------------------------------
Stonewood          AS000629      I.C. MC74AC14N Hex Inverter                            6
-----------------------------------------------------------------------------------------
Stonewood          AS000637      I.C. CS61583-IL5 Dual I/F PLCC                        17
-----------------------------------------------------------------------------------------
Stonewood          AS000640      I.C. MC74HC540N                                       53
-----------------------------------------------------------------------------------------
Stonewood          AS000641      I.C. CA95C18-16 16MHz DES DCP                         48
-----------------------------------------------------------------------------------------
Stonewood          AS000687      I.C. EPC1064PC-8 64k PROM                             61
-----------------------------------------------------------------------------------------
Stonewood          BS000002      Resistor MF 27ohm 0.33w 5%                           125
-----------------------------------------------------------------------------------------
Stonewood          BS000005      Resistor MF 47ohm 0.25w 5%                          2545
-----------------------------------------------------------------------------------------
Stonewood          BS000014      Resistor MF 270ohm 0.25w 1%                          903
-----------------------------------------------------------------------------------------
Stonewood          BS000017      Resistor MF 470ohm 0.25w 5%                          870
-----------------------------------------------------------------------------------------
Stonewood          BS000021      Resistor MF 1k 0.33w 5%                               82
-----------------------------------------------------------------------------------------
Stonewood          BS000025      Resistor MF 2.2k 0.33w 5%                           4394
-----------------------------------------------------------------------------------------
Stonewood          BS000026      Resistor MF 2.7k 0.33w 5%                           1000
-----------------------------------------------------------------------------------------
Stonewood          BS000027      Resistor MF 3.3k 0.33w 5%                           2421
-----------------------------------------------------------------------------------------
Stonewood          BS000031      Resistor MF 6.8k 0.33w 5%                            256
-----------------------------------------------------------------------------------------
Stonewood          BS000032      Resistor MF 8.2k 0.33w 5%                             97
-----------------------------------------------------------------------------------------
Stonewood          BS000033      Resistor MF 10k 0.33w 5%                            1086
-----------------------------------------------------------------------------------------
Stonewood          BS000039      Resistor MF 33k 0.25w 5%                             523
-----------------------------------------------------------------------------------------
Stonewood          BS000045      Resistor MF 100k 0.25w 5%                             40
-----------------------------------------------------------------------------------------
Stonewood          BS000053      Resistor MF 470k 0.25w 5%                              2
-----------------------------------------------------------------------------------------
Stonewood          BS000057      Resistor MF 1m 0.25w 5%                              657
-----------------------------------------------------------------------------------------
Stonewood          BS000061      Resistor MF 2.2m 0.33w 5%                             33
-----------------------------------------------------------------------------------------
</TABLE>

                                       74

<PAGE>

<TABLE>
-----------------------------------------------------------------------------------------
<S>                <C>           <C>                                                 <C>
Stonewood          BS000069      Resistor MF 10m 0.33w 5%                             442
-----------------------------------------------------------------------------------------
Stonewood          BS000074      Resistor MF 680k 0.60w 1%                             94
-----------------------------------------------------------------------------------------
Stonewood          BS000076      Resistor MF 1m 0.60w 1%                             1053
-----------------------------------------------------------------------------------------
Stonewood          BS000100      Resistor MF 1k 0.40w 1%                              268
-----------------------------------------------------------------------------------------
Stonewood          BS000121      Resistor MF 750k 0.60w 1%                           4438
-----------------------------------------------------------------------------------------
Stonewood          BS000122      Resistor MF 20m 0.50w 5%                               4
-----------------------------------------------------------------------------------------
Stonewood          BS000146      Resistor MF 1ohm 1w 5%                               778
-----------------------------------------------------------------------------------------
Stonewood          BS000147      Resistor WW 220ohm 2w 5%                              17
-----------------------------------------------------------------------------------------
Stonewood          BS000148      Resistor WW 15ohm 4w 5%                                8
-----------------------------------------------------------------------------------------
Stonewood          BS000201      Resistor MF 10ohm 0.4w 1%                            706
-----------------------------------------------------------------------------------------
Stonewood          BS000210      Resistor MF 56ohm 0.4w 1%                            959
-----------------------------------------------------------------------------------------
Stonewood          BS000221      Resistor MF 470ohm 0.4w 1%                           177
-----------------------------------------------------------------------------------------
Stonewood          BS000225      Resistor MF 1k 0.4w 1%                               808
-----------------------------------------------------------------------------------------
Stonewood          BS000227      Resistor MF 1.5k 0.4w 1%                             912
-----------------------------------------------------------------------------------------
Stonewood          BS000229      Resistor MF 2.2k 0.4w 1%                             140
-----------------------------------------------------------------------------------------
Stonewood          BS000232      Resistor MF 3.9k 0.4w 1%                             932
-----------------------------------------------------------------------------------------
Stonewood          BS000233      Resistor MF 4.7k 0.4w 1%                             256
-----------------------------------------------------------------------------------------
Stonewood          BS000237      Resistor MF 10k 0.4w 1%                              763
-----------------------------------------------------------------------------------------
Stonewood          BS000240      Resistor MF 18k 0.4w 1%                              959
-----------------------------------------------------------------------------------------
Stonewood          BS000241      Resistor MF 22k 0.4w 1%                              934
-----------------------------------------------------------------------------------------
Stonewood          BS000243      Resistor MF 33k 0.4w 1%                               10
-----------------------------------------------------------------------------------------
Stonewood          BS000244      Resistor MF 39k 0.4w 1%                              326
-----------------------------------------------------------------------------------------
Stonewood          BS000249      Resistor MF 100k 0.4w 1%                             964
-----------------------------------------------------------------------------------------
Stonewood          BS000253      Resistor MF 220k 0.4w 1%                             945
-----------------------------------------------------------------------------------------
Stonewood          BS000345      Resistor MF 47k 0.25w 1%                             903
-----------------------------------------------------------------------------------------
Stonewood          BS000349      Resistor MF 100k 0.25w 1%                           1387
-----------------------------------------------------------------------------------------
Stonewood          BS000358      Resistor MF 560k 0.25w 1%                            352
-----------------------------------------------------------------------------------------
Stonewood          BS000534      Resistor MF 28.7ohm 0.33w 1%                         509
-----------------------------------------------------------------------------------------
Stonewood          BS000535      Resistor MF 4.99k 0.33w 0.1%                          31
-----------------------------------------------------------------------------------------
Stonewood          CS000002      Cap. Cer 22pF 100v                                     1
-----------------------------------------------------------------------------------------
Stonewood          CS000005      Cap. Cer 100pF 100v                                    7
-----------------------------------------------------------------------------------------
Stonewood          CS000006      Cap. Cer Plate 150pF                                   6
-----------------------------------------------------------------------------------------
Stonewood          CS000008      Cap. Cer 470pF 100v 68370471                          48
-----------------------------------------------------------------------------------------
Stonewood          CS000010      Cap. Cer 0.01uF 63v Disk                             101
-----------------------------------------------------------------------------------------
Stonewood          CS000011      Cap. Cer Xlayer 0.1uF 100v                          5483
-----------------------------------------------------------------------------------------
Stonewood          CS000015      CAP ELEC 47UF AXL                                     49
-----------------------------------------------------------------------------------------
Stonewood          CS000018      Cap. Elect 47uF 16v Radial                           530
-----------------------------------------------------------------------------------------
Stonewood          CS000019      Cap. Elect 100uF 6.3v Radial                         100
-----------------------------------------------------------------------------------------
Stonewood          CS000025      Cap. Tant 1uF 35v 5mm                                 25
-----------------------------------------------------------------------------------------
Stonewood          CS000026      Cap. Tant 2.2uF 16v Radial                             9
-----------------------------------------------------------------------------------------
Stonewood          CS000027      CAPTR 4U7 TANTALUM 16V                               139
-----------------------------------------------------------------------------------------
Stonewood          CS000030      Cap. Poly 0.47uF 63v Radial                          320
-----------------------------------------------------------------------------------------
Stonewood          CS000032      Cap. Elect 100uF 10v Radial                           90
-----------------------------------------------------------------------------------------
Stonewood          CS000034      Cap. Y5P 1000pF 100v 10% 2.5mm                       304
-----------------------------------------------------------------------------------------
Stonewood          CS000041      CAP POLY 0.22UF                                      157
-----------------------------------------------------------------------------------------
Stonewood          CS000042      Cap. Cer 0.1uF 50v DIP Radial                         97
-----------------------------------------------------------------------------------------
Stonewood          CS000045      Cap. Tant 47uF 16v                                   431
-----------------------------------------------------------------------------------------
Stonewood          CS000050      Cap. Cer 4700pF 63v Radial                             4
-----------------------------------------------------------------------------------------
Stonewood          CS000065      Cap. Elect 100uF 6.3v Radial                         342
-----------------------------------------------------------------------------------------
Stonewood          CS000067      Cap. Elect 330uF 40v Radial                            8
-----------------------------------------------------------------------------------------
</TABLE>

                                       75

<PAGE>

<TABLE>
-----------------------------------------------------------------------------------------
<S>                <C>           <C>                                                 <C>
Stonewood          CS000074      Cap. Elect 100uF Axial                                47
-----------------------------------------------------------------------------------------
Stonewood          CS000077      Cap. Poly 0.33uF 63v 0.2"                             47
-----------------------------------------------------------------------------------------
Stonewood          CS000078      CAP POLY 0.1UF                                       119
-----------------------------------------------------------------------------------------
Stonewood          CS000087      Cap. Elect 1000uF 16v Radial                          41
-----------------------------------------------------------------------------------------
Stonewood          CS000089      Cap. Elect 22000uF 25v Radial                        139
-----------------------------------------------------------------------------------------
Stonewood          CS000094      Cap. Xlayer 0.1uF 100v Radial                          3
-----------------------------------------------------------------------------------------
Stonewood          CS000117      Cap. Cer 1000pF 100v DSS306                           24
-----------------------------------------------------------------------------------------
Stonewood          CS000118      Cap. 3-Terminal 220pF 100v 20%                       784
-----------------------------------------------------------------------------------------
Stonewood          CS000119      Varistor Cap. DSS710D233S12-22                       106
-----------------------------------------------------------------------------------------
Stonewood          CS000148      Cap. Cer 0.47uF 100v 20% 5mm                          48
-----------------------------------------------------------------------------------------
Stonewood          CS000158      Cap. Poly Box 0.1uF 63v 10%                          842
-----------------------------------------------------------------------------------------
Stonewood          CS000165      Cap. Elect 100uF 400v Radial                           9
-----------------------------------------------------------------------------------------
Stonewood          CS000166      CAPTR 2N2 CERAMIC PLATE 1KV                          283
-----------------------------------------------------------------------------------------
Stonewood          CS000167      Cap. Elect 100uF 25v Radial                          898
-----------------------------------------------------------------------------------------
Stonewood          CS000168      Cap. Elect 33uF 25v Radial                           112
-----------------------------------------------------------------------------------------
Stonewood          CS000169      Cap. Elect 2200uF 10v Radial                         106
-----------------------------------------------------------------------------------------
Stonewood          CS000170      Cap. Elect 470uF 10v Radial                            5
-----------------------------------------------------------------------------------------
Stonewood          CS000172      Cap. FKS2 2200pF 100v 20%                             12
-----------------------------------------------------------------------------------------
Stonewood          CS000173      CAPTR 330UF M/POLY X2                                400
-----------------------------------------------------------------------------------------
Stonewood          CS000174      Cap. MP3-Y 2200pF 250v 20%                            15
-----------------------------------------------------------------------------------------
Stonewood          CS000175      Cap. Poly 0.1uF 400v 10%                               7
-----------------------------------------------------------------------------------------
Stonewood          CS000177      Cap. Elect 1uF 63v Radial                             41
-----------------------------------------------------------------------------------------
Stonewood          CS000208      CAPTR 4700PF Y1                                      370
-----------------------------------------------------------------------------------------
Stonewood          DS000004      Diode 1N4148 DO-35                                  3178
-----------------------------------------------------------------------------------------
Stonewood          DS000005      Diode Various Package (CofC)                        2212
-----------------------------------------------------------------------------------------
Stonewood          DS000006      Diode 1N5908                                          53
-----------------------------------------------------------------------------------------
Stonewood          DS000008      Inductor 4.7uH 1.3amp                                 16
-----------------------------------------------------------------------------------------
Stonewood          DS000011      Bridge Rectifier 4amp                                  0
-----------------------------------------------------------------------------------------
Stonewood          DS000012      Regulator 5v 3amp TO-3                                 4
-----------------------------------------------------------------------------------------
Stonewood          DS000014      Regulator 5v 0.1amp                                    4
-----------------------------------------------------------------------------------------
Stonewood          DS000018      Transistor BC184L                                    121
-----------------------------------------------------------------------------------------
Stonewood          DS000019      Varistor 250v 40amp V250LA4                           49
-----------------------------------------------------------------------------------------
Stonewood          DS000020      Diode BZX79-C5V6/A52R DO-35                           59
-----------------------------------------------------------------------------------------
Stonewood          DS000028      Diode BZX79C 8.2v DO-35                                6
-----------------------------------------------------------------------------------------
Stonewood          DS000033      Transistor 2N7000 60v TO-92                          576
-----------------------------------------------------------------------------------------
Stonewood          DS000038      Transistor BC184L                                     12
-----------------------------------------------------------------------------------------
Stonewood          DS000041      Trans Supressor 12v (CofC)                            28
-----------------------------------------------------------------------------------------
Stonewood          DS000054      Transistor TIP121 TO-220                             132
-----------------------------------------------------------------------------------------
Stonewood          DS000058      Bridge Rectifier 1amp Special                          4
-----------------------------------------------------------------------------------------
Stonewood          DS000059      Mosfet 2SJ122 P-Channel 10amp                          8
-----------------------------------------------------------------------------------------
Stonewood          DS000060      Regulator +12v 0.1a 78L12                            162
-----------------------------------------------------------------------------------------
Stonewood          DS000061      Regulator 79L12 -12v 0.1amp                           24
-----------------------------------------------------------------------------------------
Stonewood          DS000080      Oscillator 10Mhz DIL 4pin                              1
-----------------------------------------------------------------------------------------
Stonewood          DS000099      Oscillator 16MHz GXO-U100F/B                          22
-----------------------------------------------------------------------------------------
Stonewood          DS000105      Transient Suppres5v (CofC)                           618
-----------------------------------------------------------------------------------------
Stonewood          DS000106      Varistor M.O. 10v AC (CofC)                            7
-----------------------------------------------------------------------------------------
Stonewood          DS000107      Supressor Inductor BL02                                8
-----------------------------------------------------------------------------------------
Stonewood          DS000119      Diode BAT49                                           35
-----------------------------------------------------------------------------------------
Stonewood          DS000121      Diode 1N4002S DO-35                                 1664
-----------------------------------------------------------------------------------------
Stonewood          DS000124      Zener Diode BZV85C12V 1.3w                           166
-----------------------------------------------------------------------------------------
</TABLE>

                                       76

<PAGE>

<TABLE>
-----------------------------------------------------------------------------------------
<S>                <C>           <C>                                                 <C>
Stonewood          DS000134      Diode UF4006 1a 800v                                 165
-----------------------------------------------------------------------------------------
Stonewood          DS000135      Diode UF4004 1a 400v 50ns                            442
-----------------------------------------------------------------------------------------
Stonewood          DS000136      Diode Schottky 16a 45v PBYR                            4
-----------------------------------------------------------------------------------------
Stonewood          DS000137      Zener Diode BZX55C2V4 DO-35                          452
-----------------------------------------------------------------------------------------
Stonewood          DS000138      Transistor IRFBC40                                    68
-----------------------------------------------------------------------------------------
Stonewood          DS000142      Regulator MC7812CT                                     6
-----------------------------------------------------------------------------------------
Stonewood          DS000143      Regulator MC7912CT -12.0v 1a                         205
-----------------------------------------------------------------------------------------
Stonewood          DS000144      EMI Line Filter 3330R3R01B1                          139
-----------------------------------------------------------------------------------------
Stonewood          DS000145      Inductor Choke 1a 5uH MTX VHF                        247
-----------------------------------------------------------------------------------------
Stonewood          DS000146      Bridge Rectifier DFO8M                                75
-----------------------------------------------------------------------------------------
Stonewood          DS000150      Transistor BC182L                                    260
-----------------------------------------------------------------------------------------
Stonewood          DS000151      Transistor BC212L TO-92                             1073
-----------------------------------------------------------------------------------------
Stonewood          DS000168      MultiFuse MF-RO25                                    601
-----------------------------------------------------------------------------------------
Stonewood          DS000169      MultiFuse MF-R185                                     46
-----------------------------------------------------------------------------------------
Stonewood          DS000170      MultiFuse MFR250                                      55
-----------------------------------------------------------------------------------------
Stonewood          DS000218      Transistor STP33N10 33a 100v                           1
-----------------------------------------------------------------------------------------
Stonewood          DS000260      Xtal 20Mhz HC49 18pF                                 231
-----------------------------------------------------------------------------------------
Stonewood          DS000341      Oscillator 16.384Mhz GXO-U100F                        18
-----------------------------------------------------------------------------------------
Stonewood          ES000001      Red LED PCB Mtg PC080-R5L                            204
-----------------------------------------------------------------------------------------
Stonewood          ES000004      Green Neon Indicator 240v                             20
-----------------------------------------------------------------------------------------
Stonewood          ES000021      Red LED PCB Mounting HLMP-6620                         7
-----------------------------------------------------------------------------------------
Stonewood          FS000006      20k Trimmer 12turn 0.25" 3107w                        34
-----------------------------------------------------------------------------------------
Stonewood          FS000016      5k Pot. 3296Y-001-502                                  3
-----------------------------------------------------------------------------------------
Stonewood          JS000001      Res Net SIL 8pin 4608X-102-271                         4
-----------------------------------------------------------------------------------------
Stonewood          JS000002      RESISTOR NET SIL 9PIN 8X1K                            85
-----------------------------------------------------------------------------------------
Stonewood          JS000004      Resistor Net SIL 8x10k 9pin                         3081
-----------------------------------------------------------------------------------------
Stonewood          JS000006      RES NET SIL 8PIN 4X1KO                               344
-----------------------------------------------------------------------------------------
Stonewood          JS000013      RES NET SIL 8PIN 4X220K                               47
-----------------------------------------------------------------------------------------
Stonewood          JS000015      Res Net Sil 9pin 4609X-101-473                         1
-----------------------------------------------------------------------------------------
Stonewood          JS000019      RES NET SIL 9PIN 8X1MO                                50
-----------------------------------------------------------------------------------------
Stonewood          KS000011      25way D-Type Plug 90o                                 15
-----------------------------------------------------------------------------------------
Stonewood          KS000012      25way D-Type Socket 90o                                5
-----------------------------------------------------------------------------------------
Stonewood          KS000014      2x17way Eject Header 90o                              24
-----------------------------------------------------------------------------------------
Stonewood          KS000015      37way D-Type Plug 90o                                  6
-----------------------------------------------------------------------------------------
Stonewood          KS000016      37way D-Type Socket 90o                                0
-----------------------------------------------------------------------------------------
Stonewood          KS000018      8way I.C. Socket DIL                                   3
-----------------------------------------------------------------------------------------
Stonewood          KS000022      24way I.C. Socket DIL                                162
-----------------------------------------------------------------------------------------
Stonewood          KS000023      28way I.C. Socket DIL                                  6
-----------------------------------------------------------------------------------------
Stonewood          KS000024      40way I.C. Socket DIL                                 13
-----------------------------------------------------------------------------------------
Stonewood          KS000030      25way D-Type Plug Housing                             20
-----------------------------------------------------------------------------------------
Stonewood          KS000031      25way D-Type Socket Housing                          374
-----------------------------------------------------------------------------------------
Stonewood          KS000037      2x8way Transition IDC 28 AWG                           6
-----------------------------------------------------------------------------------------
Stonewood          KS000039      2x13way Transition IDC 28 AWG                          9
-----------------------------------------------------------------------------------------
Stonewood          KS000040      2x17way Ribbon Socket IDC                              5
-----------------------------------------------------------------------------------------
Stonewood          KS000042      2x17way Transition IDC 28 AWG                          1
-----------------------------------------------------------------------------------------
Stonewood          KS000044      3way Mains Chassis Plug Inlet                        292
-----------------------------------------------------------------------------------------
Stonewood          KS000045      5way XLR Chassis Plug                                  9
-----------------------------------------------------------------------------------------
Stonewood          KS000058      6way Header 0.156"                                     2
-----------------------------------------------------------------------------------------
Stonewood          KS000089      37way D-Type Plug Housing                             23
-----------------------------------------------------------------------------------------
Stonewood          KS000090      37way D-Type Socket Housing                           10
-----------------------------------------------------------------------------------------
</TABLE>

                                       77

<PAGE>

<TABLE>
-----------------------------------------------------------------------------------------
<S>                <C>           <C>                                                 <C>
Stonewood          KS000091      15way D-Type Socket Housing                          224
-----------------------------------------------------------------------------------------
Stonewood          KS000092      15way D-Type Plug Housing                            482
-----------------------------------------------------------------------------------------
Stonewood          KS000100      6way Housing IDC 20awg                               382
-----------------------------------------------------------------------------------------
Stonewood          KS000101      D CONNECTOR SCREWLOCK EXTENDED                       180
-----------------------------------------------------------------------------------------
Stonewood          KS000112      16way Header PCB Mtg 0.1"                            183
-----------------------------------------------------------------------------------------
Stonewood          KS000114      15way D-Type Plug 90o                                 68
-----------------------------------------------------------------------------------------
Stonewood          KS000132      2way Housing 0.1" IDC 640441-2                        79
-----------------------------------------------------------------------------------------
Stonewood          KS000145      Test Point 4mm Long                                   60
-----------------------------------------------------------------------------------------
Stonewood          KS000147      24way Plug Module RP24-T                               1
-----------------------------------------------------------------------------------------
Stonewood          KS000148      24way Socket Module RS24-T                             1
-----------------------------------------------------------------------------------------
Stonewood          KS000155      15way D-Type Socket IDC 28awg                         12
-----------------------------------------------------------------------------------------
Stonewood          KS000166      25way D-Type Socket IDC 28awg                         22
-----------------------------------------------------------------------------------------
Stonewood          KS000167      Jackscrew Assembly                                    13
-----------------------------------------------------------------------------------------
Stonewood          KS000228      5way Header 0.1" 90o                                   1
-----------------------------------------------------------------------------------------
Stonewood          KS000229      HEADER 5WAY 0.1" 90DEG                                13
-----------------------------------------------------------------------------------------
Stonewood          KS000250      BNC Receptacle PCB Mtg 90o                            16
-----------------------------------------------------------------------------------------
Stonewood          KS000276      4way IDC Housing 22awg                               170
-----------------------------------------------------------------------------------------
Stonewood          KS000279      40way Header PCB Mtg 0.1"                             27
-----------------------------------------------------------------------------------------
Stonewood          KS000281      2way Housing 0.156" F/L 20 AWG                       497
-----------------------------------------------------------------------------------------
Stonewood          KS000285      10way IDC Housing 0.156" C/E                           3
-----------------------------------------------------------------------------------------
Stonewood          KS000286      10way IDC Housing 0.156" F/T                         123
-----------------------------------------------------------------------------------------
Stonewood          KS000293      20way Straight Header                               1504
-----------------------------------------------------------------------------------------
Stonewood          KS000303      37way D-Type Connector Cover                           1
-----------------------------------------------------------------------------------------
Stonewood          KS000305      25way D-Type Connector Cover                          49
-----------------------------------------------------------------------------------------
Stonewood          KS000308      25way D-Type Connector Cover                          29
-----------------------------------------------------------------------------------------
Stonewood          KS000312      15way D-Type Connector Cover                           4
-----------------------------------------------------------------------------------------
Stonewood          KS000314      5way Header 0.156" 90o                                 5
-----------------------------------------------------------------------------------------
Stonewood          KS000328      Mains Inlet PX0580/PC/12132                           83
-----------------------------------------------------------------------------------------
Stonewood          KS000348      68way Square Chip Socket                               8
-----------------------------------------------------------------------------------------
Stonewood          KS000349      HEADER10WAY 0.1" 90DEG                                 4
-----------------------------------------------------------------------------------------
Stonewood          KS000366      2x20way Housing IDC 28awg                            158
-----------------------------------------------------------------------------------------
Stonewood          KS000367      2x20way Transition IDC 28awg                          33
-----------------------------------------------------------------------------------------
Stonewood          KS000369      6way Header 90o 0.156"                                39
-----------------------------------------------------------------------------------------
Stonewood          KS000378      84way Square Chip Socket                              31
-----------------------------------------------------------------------------------------
Stonewood          KS000383      15way D-Type Connector Cover                           3
-----------------------------------------------------------------------------------------
Stonewood          KS000384      15way D-Type Connector Socket                         71
-----------------------------------------------------------------------------------------
Stonewood          KS000394      24way I.C. Socket DIL                                  5
-----------------------------------------------------------------------------------------
Stonewood          KS000470      10way Header 0.156" F/L                              314
-----------------------------------------------------------------------------------------
Stonewood          KS000472      2way Header 0.156" F/L                                 1
-----------------------------------------------------------------------------------------
Stonewood          KS000578      In-Line Adaptor KSA-020-79T                           39
-----------------------------------------------------------------------------------------
Stonewood          KS000582      25way D-Type Connector Cover                           2
-----------------------------------------------------------------------------------------
Stonewood          KS000618      50way D-Type to SCSI Converter                         2
-----------------------------------------------------------------------------------------
Stonewood          KS000619      50way D-Type Solder Bucket                             2
-----------------------------------------------------------------------------------------
Stonewood          KS000620      50way D-Type Plug Shell                                2
-----------------------------------------------------------------------------------------
Stonewood          KS001102      2way Header (Use KS000002)                             3
-----------------------------------------------------------------------------------------
Stonewood          KS001103      3way Header (Use KS000002)                            30
-----------------------------------------------------------------------------------------
Stonewood          KS001104      4way Header (Use KS000002)                           131
-----------------------------------------------------------------------------------------
Stonewood          KS001204      4way Housing 0.1"                                      1
-----------------------------------------------------------------------------------------
Stonewood          KS001301      2x2way Header (Use KS000506)                         120
-----------------------------------------------------------------------------------------
Stonewood          KS001303      2x4way Header (Use KS000506)                          75
-----------------------------------------------------------------------------------------
</TABLE>

                                       78

<PAGE>

<TABLE>
-----------------------------------------------------------------------------------------
<S>                <C>           <C>                                                <C>
Stonewood          LS000001      Termical Pin Crimp 24awg                           11023
-----------------------------------------------------------------------------------------
Stonewood          LS000002      Terminal Socket Crimp 24awg                        10500
-----------------------------------------------------------------------------------------
Stonewood          LS000003      Terminal Socket Crimp 24awg                            6
-----------------------------------------------------------------------------------------
Stonewood          LS000005      M4 Red Terminal Ring 16-22awg                        167
-----------------------------------------------------------------------------------------
Stonewood          LS000010      Red Terminal Faston 18-22awg                          56
-----------------------------------------------------------------------------------------
Stonewood          LS000015      Terminal Piggy-Back 16-20awg                          79
-----------------------------------------------------------------------------------------
Stonewood          LS000017      MRAC Terminal Pin                                     48
-----------------------------------------------------------------------------------------
Stonewood          LS000018      MRAC Terminal Socket                                  48
-----------------------------------------------------------------------------------------
Stonewood          LS000037      M3 Red Terminal Ring 16-20awg                        423
-----------------------------------------------------------------------------------------
Stonewood          LS000038      M4 Red Terminal Ring 16-20awg                         14
-----------------------------------------------------------------------------------------
Stonewood          LS000046      TERM RNG M2.5 CRIMP                                   26
-----------------------------------------------------------------------------------------
Stonewood          LS000047      TERMINAL RING RED M4                                  20
-----------------------------------------------------------------------------------------
Stonewood          LS000051      PCB Test Pin Loop Blk                                739
-----------------------------------------------------------------------------------------
Stonewood          NS000001      Tin/Copper Wire 22 AWG 500g                           32
-----------------------------------------------------------------------------------------
Stonewood          NS000004      7/0.2 Brown Stranded Wire                            197
-----------------------------------------------------------------------------------------
Stonewood          NS000006      7/0.2 Violet Stranded Wire                           525
-----------------------------------------------------------------------------------------
Stonewood          NS000007      7/0.2 Grn/Yel Stranded Wire                           42
-----------------------------------------------------------------------------------------
Stonewood          NS000009      16/0.2 Black Stranded Wire                           110
-----------------------------------------------------------------------------------------
Stonewood          NS000010      16/0.2 Red Stranded Wire                             285
-----------------------------------------------------------------------------------------
Stonewood          NS000011      16/0.2 Blue Stranded Wire                            160
-----------------------------------------------------------------------------------------
Stonewood          NS000033      7/0.2 Black 6core Cable                               31
-----------------------------------------------------------------------------------------
Stonewood          NS000036      7/0.2 Grey 12core Cable                              170
-----------------------------------------------------------------------------------------
Stonewood          NS000040      16way Ribbon Cable 28awg                             130
-----------------------------------------------------------------------------------------
Stonewood          NS000042      34way Ribbon Cable 28awg                              15
-----------------------------------------------------------------------------------------
Stonewood          NS000052      Grey Cable 14way 7pair Belden                        447
-----------------------------------------------------------------------------------------
Stonewood          NS000058      10x30awg Blue Stranded Wire                          300
-----------------------------------------------------------------------------------------
Stonewood          NS000059      10x30awg Brown Stranded Wire                         280
-----------------------------------------------------------------------------------------
Stonewood          NS000076      40way Ribbon Cable 28awg                               1
-----------------------------------------------------------------------------------------
Stonewood          NS000103      7/0.2 Grey Cable 8-Core                               30
-----------------------------------------------------------------------------------------
Stonewood          NS000105      16/30 Black Stranded Wire                            125
-----------------------------------------------------------------------------------------
Stonewood          NS000106      16/30 Red Stranded Wire                              150
-----------------------------------------------------------------------------------------
Stonewood          NS000107      16/30 Blue Stranded Wire                             450
-----------------------------------------------------------------------------------------
Stonewood          NS000108      16/30 Brown Stranded Wire                            176
-----------------------------------------------------------------------------------------
Stonewood          NS000109      16/30 Orange Stranded Wire                           116
-----------------------------------------------------------------------------------------
Stonewood          NS000110      16/30 Grey Stranded Wire                             190
-----------------------------------------------------------------------------------------
Stonewood          NS000111      16/30 Violet Stranded Wire                           330
-----------------------------------------------------------------------------------------
Stonewood          NS000112      16/30 Yellow Stranded Wire                           350
-----------------------------------------------------------------------------------------
Stonewood          NS000114      16/30 Grn/Yel Stranded Wire                          224
-----------------------------------------------------------------------------------------
Stonewood          NS000119      19/32 Grn/Yel Stranded Wire                          305
-----------------------------------------------------------------------------------------
Stonewood          NS000120      19/32 Red Stranded Wire                              305
-----------------------------------------------------------------------------------------
Stonewood          NS000121      19/32 Black Stranded Wire                            305
-----------------------------------------------------------------------------------------
Stonewood          NS000122      40way Ribbon Cable 28awg                              23
-----------------------------------------------------------------------------------------
Stonewood          NS000126      6way MultiPair Cable 7/0.2                           200
-----------------------------------------------------------------------------------------
Stonewood          NS000406      24 AWG GREEN/YELLOW 3XINS.UL.                         95
-----------------------------------------------------------------------------------------
Stonewood          NS000409      26way Twisted SCSI Cable                              15
-----------------------------------------------------------------------------------------
Stonewood          NS000434      6way SupraShield Cable                                11
-----------------------------------------------------------------------------------------
Stonewood          OS000012      Screwlock Kit 4/40 UNC                                12
-----------------------------------------------------------------------------------------
Stonewood          OS000013      TYLABLE TY551M                                       100
-----------------------------------------------------------------------------------------
Stonewood          OS000015      Tyrap 92mm TYB23M Nylon                             2519
-----------------------------------------------------------------------------------------
Stonewood          OS000021      Self-Adhesive Cable Clip                              12
-----------------------------------------------------------------------------------------
</TABLE>

                                       79

<PAGE>

<TABLE>
-----------------------------------------------------------------------------------------
<S>                <C>           <C>                                                 <C>
Stonewood          OS000023      PTFE Sleeving 1.01mm                                 250
-----------------------------------------------------------------------------------------
Stonewood          OS000032      19x19mm Cable Tie Base                                58
-----------------------------------------------------------------------------------------
Stonewood          OS000033      Ribbon Cable Clamp 1.0" *                             12
-----------------------------------------------------------------------------------------
Stonewood          OS000044      Ribbon Cable Clamp 2.0" *                              1
-----------------------------------------------------------------------------------------
Stonewood          OS000060      Heatshrink Sleeving 19mm Glue                          1
-----------------------------------------------------------------------------------------
Stonewood          OS000067      Heatshrink Sleeving 3.2mm Glue                         3
-----------------------------------------------------------------------------------------
Stonewood          OS000083      Insulating Transistor Washer                         822
-----------------------------------------------------------------------------------------
Stonewood          QS000003      Microswitch 15amp 240v                                 3
-----------------------------------------------------------------------------------------
Stonewood          QS000008      Kabalock Keyswitch Mom.                               15
-----------------------------------------------------------------------------------------
Stonewood          QS000013      Locking Tab Release Bar                              183
-----------------------------------------------------------------------------------------
Stonewood          QS000100      Mercury Switch Tilt/Jitr S1361                        33
-----------------------------------------------------------------------------------------
Stonewood          QS000104      14pin Relay DIP 5v G6A434P5DC                         22
-----------------------------------------------------------------------------------------
Stonewood          QS000114      Mains Voltage Selector                                 1
-----------------------------------------------------------------------------------------
Stonewood          QS000181      Tilt Switch TO5-2G-002G-180                            7
-----------------------------------------------------------------------------------------
Stonewood          SAS000467     I.C. MAX688CSA Regulator                             370
-----------------------------------------------------------------------------------------
Stonewood          SAS000556     I.C. 74ACT245SC Fact Xceiver                          50
-----------------------------------------------------------------------------------------
Stonewood          SAS000557     I.C. MC74ACT32D Motorola Only                         39
-----------------------------------------------------------------------------------------
Stonewood          SAS000558     I.C. EPM7128SQC100-15 PQFP-100                        13
-----------------------------------------------------------------------------------------
Stonewood          SAS000559     I.C. MC74ACT574SC Flip-Flop                           85
-----------------------------------------------------------------------------------------
Stonewood          SAS000560     I.C. MC74HC02AD NOR CMOS                             217
-----------------------------------------------------------------------------------------
Stonewood          SAS000561     I.C. MC74HC132AD CMOS                                223
-----------------------------------------------------------------------------------------
Stonewood          SAS000562     I.C. MC74ACT08D Quad 2IP SO-14                      2228
-----------------------------------------------------------------------------------------
Stonewood          SAS000563     I.C. XPC860ENZP50.C1                                  35
-----------------------------------------------------------------------------------------
Stonewood          SAS000564     I.C. MC68160AFB E/Net TQFP-52                         38
-----------------------------------------------------------------------------------------
Stonewood          SAS000565     I.C. AM7203A-15JC FIFO PLCC-32                       291
-----------------------------------------------------------------------------------------
Stonewood          SAS000566     I.C. KM681000CLG-5L SRAM                             194
-----------------------------------------------------------------------------------------
Stonewood          SAS000568     I.C. PE68026 Module                                  117
-----------------------------------------------------------------------------------------
Stonewood          SAS000569     I.C. MAX691ACSE                                      116
-----------------------------------------------------------------------------------------
Stonewood          SAS000571     I.C. MC74HC541ADW                                      5
-----------------------------------------------------------------------------------------
Stonewood          SAS000581     I.C. AM29F040B-90JC PLCC-32                           69
-----------------------------------------------------------------------------------------
Stonewood          SBS000409     Resistor 47ohm 0.063w 1% 0603                        824
-----------------------------------------------------------------------------------------
Stonewood          SBS000463     Resistor 10m 0.063w 1% 0603                         4000
-----------------------------------------------------------------------------------------
Stonewood          SBS000506     RES 1M 100V MINI MELF                               2900
-----------------------------------------------------------------------------------------
Stonewood          SBS000507     RES 750K 100V MINI MELF                             2500
-----------------------------------------------------------------------------------------
Stonewood          SBS000508     Resistor 300ohm 0.33w 1% 0603                       3500
-----------------------------------------------------------------------------------------
Stonewood          SBS000557     ResNet 22k 0.063w 5% MNR35                           352
-----------------------------------------------------------------------------------------
Stonewood          SCS000245     Cap. Tant 47uF 10v 10% Type-D                        580
-----------------------------------------------------------------------------------------
Stonewood          SCS000288     CAP TANT 47UF 20V                                    350
-----------------------------------------------------------------------------------------
Stonewood          SCS000290     Cap. Cer 1800pF 50v 10% 0603                        3500
-----------------------------------------------------------------------------------------
Stonewood          SCS000291     Cap. Cer 18pF 50v 5% 0603                           3000
-----------------------------------------------------------------------------------------
Stonewood          SCS000292     Cap. Cer 3900pF 50v 10% 0603                        3500
-----------------------------------------------------------------------------------------
Stonewood          SCS000293     Cap. Tant 2.2uF 35v 20%                             1800
-----------------------------------------------------------------------------------------
Stonewood          SCS000294     Cap. Cer 39nF 50v 10% 1206                          3334
-----------------------------------------------------------------------------------------
Stonewood          SCS000295     Cap. Tant 33uF 10v 10% Type-C                        300
-----------------------------------------------------------------------------------------
Stonewood          SCS000348     Cap. Cer 330nF 16v 1206                               50
-----------------------------------------------------------------------------------------
Stonewood          SDS000204     TRANSISTOR FZT749                                    100
-----------------------------------------------------------------------------------------
Stonewood          SDS000215     INDUCTOR EMI FILTER 33NF3                            314
-----------------------------------------------------------------------------------------
Stonewood          SDS000312     Xtal 4Mhz GXO-U108L                                   76
-----------------------------------------------------------------------------------------
Stonewood          SES000053     Red LED BR-X 4561-05V/TRZ                            438
-----------------------------------------------------------------------------------------
Stonewood          SKS000541     32way I.C. Socket PLCC                                21
-----------------------------------------------------------------------------------------
</TABLE>

                                       80

<PAGE>

<TABLE>
-----------------------------------------------------------------------------------------
<S>                <C>           <C>                                                 <C>
Stonewood          SKS000577     40way SM/DIL Socket ICF-640-SO                       100
-----------------------------------------------------------------------------------------
Stonewood          SKS001504     40way I.C. Socket 0.6" DIP                            95
-----------------------------------------------------------------------------------------
Stonewood          SS000002      D/Sided Tape Pad 150x25x0.8mm                          4
-----------------------------------------------------------------------------------------
Stonewood          SS000035      Foam Adhesive Strip 150x50x1mm                        21
-----------------------------------------------------------------------------------------
Stonewood          SS000058      Araldite 2011 Adhesive Epoxy                           2
-----------------------------------------------------------------------------------------
Stonewood          TS000004      Transistor Pad TO-92 Black                           571
-----------------------------------------------------------------------------------------
Stonewood          TS000006      TO-3 Instalation Kit                                   4
-----------------------------------------------------------------------------------------
Stonewood          TS000018      Label (Mains Warning)                               1246
-----------------------------------------------------------------------------------------
Stonewood          TS000019      Label (High Voltage)                                 444
-----------------------------------------------------------------------------------------
Stonewood          TS000020      Label (Earth Point)                                 3840
-----------------------------------------------------------------------------------------
Stonewood          TS000024      Rubber Foot 19mm Dia                                 423
-----------------------------------------------------------------------------------------
Stonewood          TS000025      Rubber Foot 12.7x12.7x5.7mm                          154
-----------------------------------------------------------------------------------------
Stonewood          TS000043      Insulating Bush                                        6
-----------------------------------------------------------------------------------------
Stonewood          TS000044      M3 Spacer Tapped 10mm Long                           183
-----------------------------------------------------------------------------------------
Stonewood          TS000046      Label (240 Volts AC)                                 674
-----------------------------------------------------------------------------------------
Stonewood          TS000159      M3x10 Spacer Hex Brass                                48
-----------------------------------------------------------------------------------------
Stonewood          TS000215      Spacer 2.7 Thro Hole X5LG                            135
-----------------------------------------------------------------------------------------
Stonewood          TS000230      Transistor Pad TO-92 White                            34
-----------------------------------------------------------------------------------------
Stonewood          TS000245      Self Adhesive CCT PCB Support                        689
-----------------------------------------------------------------------------------------
Stonewood          TS000248      Ferrite Tube 4330-030-43570                            2
-----------------------------------------------------------------------------------------
Stonewood          TS000294      Rubber Foot 1.5x7.5mm Dia                             95
-----------------------------------------------------------------------------------------
Stonewood          TS000390      Magnetic Swipe Card Reader                             5
-----------------------------------------------------------------------------------------
Stonewood          TS000517      Fuse Holder 90o FX0457                                94
-----------------------------------------------------------------------------------------
Stonewood          TS000518      M3 Spring Clip TO-220 TSC607                        2698
-----------------------------------------------------------------------------------------
Stonewood          TS000695      Lock Cam S2202-13 0.875                                0
-----------------------------------------------------------------------------------------
Stonewood          TS000696      CE Label 12.7x12.7mm                                  90
-----------------------------------------------------------------------------------------
Stonewood          TS000731      Pulse Transformer 3kv (CofC)                          11
-----------------------------------------------------------------------------------------
Stonewood          TS000751      M3 Nylon Pillar HNP-35-B-M3                           95
-----------------------------------------------------------------------------------------
Stonewood          VS000002      Quick-Blow Fuse 500ma 20mm                            11
-----------------------------------------------------------------------------------------
Stonewood          VS000008      Anti-Surge Fuse 500ma 20mm                           146
-----------------------------------------------------------------------------------------
Stonewood          VS000038      Resettable Fuse 0.17a 60v RXE                          7
-----------------------------------------------------------------------------------------
Stonewood          VS000039      Resettable Fuse 2.5a 30v RUE                           7
-----------------------------------------------------------------------------------------
Stonewood          VS000040      Resettable Fuse 1.1a 30v RUE                           7
-----------------------------------------------------------------------------------------
Stonewood          WS000012      M3 Hex Nut                                           520
-----------------------------------------------------------------------------------------
Stonewood          WS000016      M2.5 Nut BZP                                         300
-----------------------------------------------------------------------------------------
Stonewood          YS000003      M3x10 Screw Pozi C/Snk BZP                           769
-----------------------------------------------------------------------------------------
Stonewood          YS000065      M3x12 Screw Pozi C/Snk Blk                           227
-----------------------------------------------------------------------------------------
Stonewood          YS000068      M2.5x12 Screw Pozi Pan Blk                           149
-----------------------------------------------------------------------------------------
Stonewood          YS000070      M2.5 Shakeproof Washer                              5133
-----------------------------------------------------------------------------------------
Stonewood          YS000079      M2.5 Plain Nylon Washer                              350
-----------------------------------------------------------------------------------------
Stonewood          YS000082      M2.5x4 Screw Pozi Pan Blk                              0
-----------------------------------------------------------------------------------------
Stonewood          YS000088      Locking Washer                                       687
-----------------------------------------------------------------------------------------
Stonewood          YS000089      M4x10 Nylon Grub Screw                               991
-----------------------------------------------------------------------------------------
Stonewood          YS000098      M3x16 Screw Pozi Pan BZP                            1189
-----------------------------------------------------------------------------------------
Stonewood          YS000142      3mm Rivscrew STL BZP                                3864
-----------------------------------------------------------------------------------------
Stonewood          YS000170      M3x6 Screw Pozi C/Snk Blk                            588
-----------------------------------------------------------------------------------------
Stonewood          Z1007-P29     Yellow Keytop (Down Line Load)                       119
-----------------------------------------------------------------------------------------
Stonewood          Z1007-P33     White Keytop (Down Line Load)                          7
-----------------------------------------------------------------------------------------
Stonewood          Z1007-P54     White Keytop (FN)                                      1
-----------------------------------------------------------------------------------------
Stonewood          Z1007-P56     Yellow Keytop (FN)                                   152
-----------------------------------------------------------------------------------------
</TABLE>

                                       81

<PAGE>

<TABLE>
-----------------------------------------------------------------------------------------
<S>                <C>           <C>                                                  <C>
Stonewood          Z1007-P99     Black Keytop (-Blank-)                               146
-----------------------------------------------------------------------------------------
Stonewood          Z1014-P2      Transformer 220/240v 50Hz                             17
-----------------------------------------------------------------------------------------
Stonewood          Z1014-P5      Transformer 110/220/240v AC                            7
-----------------------------------------------------------------------------------------
Stonewood          Z1054-P72     ED500 Lid Fab. 2S/2PB                                 19
-----------------------------------------------------------------------------------------
Stonewood          Z1054-S61     ED500 Screened Base Fab.                              19
-----------------------------------------------------------------------------------------
Stonewood          Z1055-P15     ED500 Modified Lock Cam                               34
-----------------------------------------------------------------------------------------
Stonewood          Z1055-P21     ED500 Location Screw                                 118
-----------------------------------------------------------------------------------------
Stonewood          Z1055-P22     ED500 Front Screen                                    17
-----------------------------------------------------------------------------------------
Stonewood          Z1055-P24     ED500 Side Filler                                     34
-----------------------------------------------------------------------------------------
Stonewood          Z1084-P4      Connector Panel w/Earth Foot                          17
-----------------------------------------------------------------------------------------
Stonewood          Z1088-P1      Connector Mtg Panel Pillar                            26
-----------------------------------------------------------------------------------------
Stonewood          Z1088-P20     ED500 PSU Mounting Pillar                             17
-----------------------------------------------------------------------------------------
Stonewood          Z1211-P11     ED500 PSU Control PCB Fab.                             4
-----------------------------------------------------------------------------------------
Stonewood          Z1213-P4      ED500 PSU Module Chassis Plate                        24
-----------------------------------------------------------------------------------------
Stonewood          Z1214-P10     ED500 PSU Heatsink Insulator                           5
-----------------------------------------------------------------------------------------
Stonewood          Z1214-P2      ED500 PSU Heatsink                                    13
-----------------------------------------------------------------------------------------
Stonewood          Z1215-P2      ED500 PSU Module Mains Cover                          10
-----------------------------------------------------------------------------------------
Stonewood          Z1216-G20     PSU-Main & I/F PCB C/Form issA                        10
-----------------------------------------------------------------------------------------
Stonewood          Z1216-G22     PSU To Main PCB Cableform                             12
-----------------------------------------------------------------------------------------
Stonewood          Z1219-P3      Baltimore PSU Chassis Silpad                           4
-----------------------------------------------------------------------------------------
Stonewood          Z1219-P5      Baltimore Generic PSU Silpad                          54
-----------------------------------------------------------------------------------------
Stonewood          Z1393-P11     Insulator for I/F PCB                                 22
-----------------------------------------------------------------------------------------
Stonewood          Z1402-P2      Insulator for Sensor PCB Assy                          5
-----------------------------------------------------------------------------------------
Stonewood          Z1547-G14     Non-Recharge 2xBatt. PCB Assy                          3
-----------------------------------------------------------------------------------------
Stonewood          Z1547-P3      Non-Recharge 2xBatt. PCB Fab.                          2
-----------------------------------------------------------------------------------------
Stonewood          Z1631-P11     K.S.T. Magswipe PCB Fab.                              25
-----------------------------------------------------------------------------------------
Stonewood          Z1632-P11     K.S.T. Keypad Membrane                                51
-----------------------------------------------------------------------------------------
Stonewood          Z1633-P11     K.S.T. Magswipe Enclosure                              3
-----------------------------------------------------------------------------------------
Stonewood          Z1633-P5      K.S.T. Magswipe Cable Strap                           18
-----------------------------------------------------------------------------------------
Stonewood          Z1637-P3      K.S.T. Display Insulator                              48
-----------------------------------------------------------------------------------------
Stonewood          Z1662-P1      Sensor PCB Fabrication (issD)                         23
-----------------------------------------------------------------------------------------
Stonewood          Z1976-P1      Rambutan II SM/DIL Converter                         280
-----------------------------------------------------------------------------------------
Stonewood          Z2082-P11     Printed Label (Baltimore)                             20
-----------------------------------------------------------------------------------------
Stonewood          Z2085-P1      Printed Label (ED600RTS LED)                          71
-----------------------------------------------------------------------------------------
Stonewood          Z2085-P3      Printed Label (ED8000RL LED)                         182
-----------------------------------------------------------------------------------------
Stonewood          Z2086-P1      Printed Label (ED2048R3-G703)                          7
-----------------------------------------------------------------------------------------
Stonewood          Z2086-P2      Printed Label (ED2048R3-X21)                          67
-----------------------------------------------------------------------------------------
Stonewood          Z2086-P3      Printed Label (ED600RTS)                              30
-----------------------------------------------------------------------------------------
Stonewood          Z2086-P7      Printed Label (ED8000RL)                             124
-----------------------------------------------------------------------------------------
Stonewood          Z2087-P1      Printed Label (PSU)                                   91
-----------------------------------------------------------------------------------------
Stonewood          Z2087-P2      Printed Label (Port)                                  20
-----------------------------------------------------------------------------------------
Stonewood          Z2087-P3      Printed Label (BNC Port)                              53
-----------------------------------------------------------------------------------------
Stonewood          Z2087-P4      Printed Label (Port)                                  78
-----------------------------------------------------------------------------------------
Stonewood          Z2087-P5      Printed Label (ED8000RL Port)                         97
-----------------------------------------------------------------------------------------
Stonewood          Z2281-P2      ED8000RL 1u Base Fab.                                 25
-----------------------------------------------------------------------------------------
Stonewood          Z2283-P1      Generic 1u Front Panel                                21
-----------------------------------------------------------------------------------------
Stonewood          Z2286-P2      1u Connector Panel (ED8000RL)                         34
-----------------------------------------------------------------------------------------
Stonewood          Z2311-P1      Twin Z8K-16MHz Main PCB Fab.                          17
-----------------------------------------------------------------------------------------
Stonewood          Z2451-P1      Generic 1.5u Base Fab.                                 7
-----------------------------------------------------------------------------------------
Stonewood          Z2452-P1      Generic 1.5u Lid Fab.                                 12
-----------------------------------------------------------------------------------------
</TABLE>

                                       82

<PAGE>

<TABLE>
-----------------------------------------------------------------------------------------
<S>                <C>           <C>                                                <C>
Stonewood          Z2453-P1      Generic 1.5u Front Panel                              27
-----------------------------------------------------------------------------------------
Stonewood          Z2455-P1      1.5u Connector Panel (-X21)                            6
-----------------------------------------------------------------------------------------
Stonewood          CS000068      Cap. Elect 4700uF 16v Radial                           8
-----------------------------------------------------------------------------------------
Stonewood          CS000069      Cap. Elect 470uF 25v Axial                             8
-----------------------------------------------------------------------------------------
Stonewood          NS000012      16/0.2 Brown Stranded Wire                           250
-----------------------------------------------------------------------------------------
Stonewood          NS000013      16/0.2 Orange Stranded Wire                          850
-----------------------------------------------------------------------------------------
Stonewood          NS000020      16/0.2 Pink Stranded Wire                            110
-----------------------------------------------------------------------------------------
Stonewood          NS000021      16/0.2 Violet Stranded Wire                           90
-----------------------------------------------------------------------------------------
Stonewood          NS000023      16/0.2 Yellow Stranded Wire                           75
-----------------------------------------------------------------------------------------
Stonewood          274000-P2     Europay Kernel Fab. 2571-P2-D                        237
-----------------------------------------------------------------------------------------
Stonewood          SAS000507     I.C. EPF10K100EQC240-3 PQFP240                        48
-----------------------------------------------------------------------------------------
Stonewood          SAS000510     I.C. AM29LV800BB-120EC TSOP-48                        21
-----------------------------------------------------------------------------------------
Stonewood          SAS000512     I.C. CY62128L-70SO SOIC-32                            29
-----------------------------------------------------------------------------------------
Stonewood          SDS000235     Xtal 4Mhz GSX49-4 30pF                                 2
-----------------------------------------------------------------------------------------
Stonewood          TS000710      16way EMC Suppression Core                           111
-----------------------------------------------------------------------------------------
Stonewood          271010-P1     HSM/NSP Display PCB Fab.                              57
-----------------------------------------------------------------------------------------
Stonewood          271020-P1     HSM/NSP LED Mounting PCB Fab.                        963
-----------------------------------------------------------------------------------------
Stonewood          273000-P1     HSM/NSP I/F PCB Fab. 2590-P1-D                        24
-----------------------------------------------------------------------------------------
Stonewood          273000-P2     HSM/NSP I/F PCB Fab. 2590-P1-G                        52
-----------------------------------------------------------------------------------------
Stonewood          274000-P10    ED20M Kernel Fab. 2631-P1-1-3                        110
-----------------------------------------------------------------------------------------
Stonewood          274000-P20    Hifn Kernel Fab. 2641-P1-2A-2                        194
-----------------------------------------------------------------------------------------
Stonewood          560101-P1     v.2 Runner EMC Can Side Walls                          4
-----------------------------------------------------------------------------------------
Stonewood          560102-P1     v.2 Runner EMC Can Lid                                 7
-----------------------------------------------------------------------------------------
Stonewood          560103-P1     v.2 Runner EMC Can Plate                               7
-----------------------------------------------------------------------------------------
Stonewood          CS000260      Cap. Cer 0.01uF 2kv DE1207                          3640
-----------------------------------------------------------------------------------------
Stonewood          KS000002      36way Header 0.1"                                    226
-----------------------------------------------------------------------------------------
Stonewood          KS000504      9way Header D-Plug 90o                               120
-----------------------------------------------------------------------------------------
Stonewood          KS000509      2x50way Socket SFM150-01-SD                          306
-----------------------------------------------------------------------------------------
Stonewood          KS000514      5way PCB Mtg DIN 180o DS-035-C                        15
-----------------------------------------------------------------------------------------
Stonewood          KS000515      Ethernet TJ45 Telecom Jack 90o                       475
-----------------------------------------------------------------------------------------
Stonewood          KS000516      2x5way Socket TFH05DS                                142
-----------------------------------------------------------------------------------------
Stonewood          KS000518      2x10way Transition IDC 0.1"                          808
-----------------------------------------------------------------------------------------
Stonewood          KS000519      20way IDC Cable Socket                               201
-----------------------------------------------------------------------------------------
Stonewood          KS000536      2x50way Header TFM150-01-SDA                          35
-----------------------------------------------------------------------------------------
Stonewood          KS000537      90 WAY HEADER CONNECTOR 0.05"                          2
-----------------------------------------------------------------------------------------
Stonewood          KS000538      10 WAY HEADER CONNECTOR 0.05"                          4
-----------------------------------------------------------------------------------------
Stonewood          KS000539      40 WAY HEADER CONNECTOR 0.05"                          3
-----------------------------------------------------------------------------------------
Stonewood          KS000548      2x5way Box Header IDC                               1317
-----------------------------------------------------------------------------------------
Stonewood          KS000549      Polarizing Key 1-1437023-2                           820
-----------------------------------------------------------------------------------------
Stonewood          KS000570      3way Header 0.1" 90o                                  73
-----------------------------------------------------------------------------------------
Stonewood          KS000571      10way Box Header 90o IDC                             113
-----------------------------------------------------------------------------------------
Stonewood          KS000572      20way Box Header 90o IDC                             353
-----------------------------------------------------------------------------------------
Stonewood          KS000594      Baltimore 2way Circuit Jumper                       1053
-----------------------------------------------------------------------------------------
Stonewood          KS000614      2way Header 90o 0.1"                                   6
-----------------------------------------------------------------------------------------
Stonewood          KS000616      8way Shielded RJ45 Molex                               3
-----------------------------------------------------------------------------------------
Stonewood          KS001003      3way Header 90o (Use KS000001)                       716
-----------------------------------------------------------------------------------------
Stonewood          KS001304      2x5way Header (Use KS000506)                           9
-----------------------------------------------------------------------------------------
Stonewood          KS001405      2x5way Header (Use KS001443)                           8
-----------------------------------------------------------------------------------------
Stonewood          LS000004      M3 Red Terminal Ring 16-22awg                      39941
-----------------------------------------------------------------------------------------
Stonewood          LS000058      Horizontal Faston                                   1041
-----------------------------------------------------------------------------------------
</TABLE>

                                       83

<PAGE>

<TABLE>
-----------------------------------------------------------------------------------------
<S>                <C>           <C>                                                 <C>
Stonewood          NS000005      7/0.2 White Stranded Wire                             33
-----------------------------------------------------------------------------------------
Stonewood          NS000014      16/0.2 Grn/Yel Stranded Wire                          37
-----------------------------------------------------------------------------------------
Stonewood          NS000414      20way Ribbon Cable 0.1"                               65
-----------------------------------------------------------------------------------------
Stonewood          NS000419      10way Ribbon Cable 28awg                              80
-----------------------------------------------------------------------------------------
Stonewood          NS000442      7/32 Blue Stranded Wire UL/CSA                        87
-----------------------------------------------------------------------------------------
Stonewood          NS000443      7/32 Red Stranded Wire UL/CSA                         87
-----------------------------------------------------------------------------------------
Stonewood          OS000014      TYRAP LARGE TYB25M                                   624
-----------------------------------------------------------------------------------------
Stonewood          QS000007      Kabalock Keyswitch Alt.                               30
-----------------------------------------------------------------------------------------
Stonewood          QS000163      Switch Push Button                                   205
-----------------------------------------------------------------------------------------
Stonewood          QS000182      SPST Switch D2JW-01K11 Omron                           8
-----------------------------------------------------------------------------------------
Stonewood          SAS000201     I.C. SN74HCT138DR                                    669
-----------------------------------------------------------------------------------------
Stonewood          SAS000444     I.C. CD74HCT165M96                                   869
-----------------------------------------------------------------------------------------
Stonewood          SAS000455     I.C. MC74AC132DR2 SO-14                             1518
-----------------------------------------------------------------------------------------
Stonewood          SAS000456     I.C. MC74AC14DR2 Hex SO-14                           424
-----------------------------------------------------------------------------------------
Stonewood          SAS000457     I.C. 74AC74 Dual Off SO-14                          1102
-----------------------------------------------------------------------------------------
Stonewood          SAS000460     I.C. 7665 Volt Detector 2% SO8                      1390
-----------------------------------------------------------------------------------------
Stonewood          SAS000472     I.C. 74AC32 4x2IP OR SOP-14                         2054
-----------------------------------------------------------------------------------------
Stonewood          SAS000475     I.C. 74AC08 4x2IP SOP-14                            1931
-----------------------------------------------------------------------------------------
Stonewood          SAS000488     I.C. LT1137ACG RS232 IF SSOP28                       891
-----------------------------------------------------------------------------------------
Stonewood          SAS000498     I.C. DS9502P ESD Prot. Diode                         169
-----------------------------------------------------------------------------------------
Stonewood          SAS000499     I.C. ICS1892Y Ethernet PHY                            50
-----------------------------------------------------------------------------------------
Stonewood          SAS000500     I.C. DS1813R-15 ECO SOT-23                          5105
-----------------------------------------------------------------------------------------
Stonewood          SAS000501     I.C. NPI6120-37                                      227
-----------------------------------------------------------------------------------------
Stonewood          SAS000508     I.C. TL072CD SO-8                                    465
-----------------------------------------------------------------------------------------
Stonewood          SAS000509     I.C. 4069UB SO-14                                    541
-----------------------------------------------------------------------------------------
Stonewood          SAS000511     I.C. IDT71V416S15-PH TSOP-44                         240
-----------------------------------------------------------------------------------------
Stonewood          SAS000513     I.C. CY62256VLL-70ZC TSOP-28                         417
-----------------------------------------------------------------------------------------
Stonewood          SAS000514     I.C. PI5C16212A TSSOP-56                            2692
-----------------------------------------------------------------------------------------
Stonewood          SAS000515     I.C. EPM7032AETC44-10 TQFP-44                        101
-----------------------------------------------------------------------------------------
Stonewood          SAS000517     I.C. LM317LM SO-8                                    506
-----------------------------------------------------------------------------------------
Stonewood          SAS000518     I.C. LTC1444IS SO-16                                6288
-----------------------------------------------------------------------------------------
Stonewood          SAS000519     I.C. LTC1625CGN SSOP-16                              889
-----------------------------------------------------------------------------------------
Stonewood          SAS000520     I.C. XPC860TZP50.B3 BGA                               28
-----------------------------------------------------------------------------------------
Stonewood          SAS000521     I.C. X2502OS SPI I/F EEPROM                          940
-----------------------------------------------------------------------------------------
Stonewood          SAS000522     I.C. DS1306EN TSSOP-20                               730
-----------------------------------------------------------------------------------------
Stonewood          SAS000523     I.C. MAX6328UR26 2.63v SOT23-3                       425
-----------------------------------------------------------------------------------------
Stonewood          SAS000525     I.C. PIC16LC711-04I/SS SSOP-20                        35
-----------------------------------------------------------------------------------------
Stonewood          SAS000526     I.C. DS60R-TRL SOT23-3                               325
-----------------------------------------------------------------------------------------
Stonewood          SAS000527     I.C. MAX406A(B)ESA SOIC-8                            853
-----------------------------------------------------------------------------------------
Stonewood          SAS000528     I.C. PS392EEE QSOP-16                               4264
-----------------------------------------------------------------------------------------
Stonewood          SAS000529     I.C. MAX6030A(B)EUR SOT23-3                           25
-----------------------------------------------------------------------------------------
Stonewood          SAS000545     I.C. AM29LV160DB-90EC                                441
-----------------------------------------------------------------------------------------
Stonewood          SAS000547     I.C. EPM3032ATC44-10 TQFP-44                         142
-----------------------------------------------------------------------------------------
Stonewood          SAS000548     I.C. XCV300-4PQ240C TSSOP                            130
-----------------------------------------------------------------------------------------
Stonewood          SAS000549     I.C. MC74ACT541DW (Motorola)                         660
-----------------------------------------------------------------------------------------
Stonewood          SAS000550     I.C. CY62148BLL-70SC SOIC-32                          84
-----------------------------------------------------------------------------------------
Stonewood          SAS000552     I.C. CY2305SC-1H                                     162
-----------------------------------------------------------------------------------------
Stonewood          SAS000553     I.C. 6500-100PH8                                     110
-----------------------------------------------------------------------------------------
Stonewood          SAS000630     I.C. XPC860TZP80.D3 BGA                               51
-----------------------------------------------------------------------------------------
Stonewood          SAS000636     I.C. PCC-ISES                                         37
-----------------------------------------------------------------------------------------
</TABLE>

                                       84

<PAGE>

<TABLE>
-----------------------------------------------------------------------------------------
<S>                <C>           <C>                                                <C>
Stonewood          SAS000638     I.C. XPC860TZP50.D4 BGA                               33
-----------------------------------------------------------------------------------------
Stonewood          SAS000654     I.C. CY62146VLL70BAI FPGA48                            2
-----------------------------------------------------------------------------------------
Stonewood          SAS000672     I.C. MT48LC8M16A2TG-75 TSOP-54                         6
-----------------------------------------------------------------------------------------
Stonewood          SAS000673     I.C. TC55V16256FT-12 TSOP-44                          17
-----------------------------------------------------------------------------------------
Stonewood          SAS000674     I.C. MC74AC244DW SO-20                                10
-----------------------------------------------------------------------------------------
Stonewood          SAS000675     I.C. LM20BIM Sensor SOT23-5                           10
-----------------------------------------------------------------------------------------
Stonewood          SAS000676     I.C. MAX872ESA 2.5v SO-8                              29
-----------------------------------------------------------------------------------------
Stonewood          SAS000679     I.C. CY2309SC-1H SOIC-16                              44
-----------------------------------------------------------------------------------------
Stonewood          SAS000680     I.C. SN74ABT16244ADGV TVSOP-48                         6
-----------------------------------------------------------------------------------------
Stonewood          SAS000681     I.C. EPM3064ATC100-10 TQFP100                          2
-----------------------------------------------------------------------------------------
Stonewood          SAS000686     I.C. NC7SZ08P5-EIAJ SC-88a                           105
-----------------------------------------------------------------------------------------
Stonewood          SAS000689     I.C. EP1K50FC256-3 FBGA-256                            2
-----------------------------------------------------------------------------------------
Stonewood          SBS000301     Resistor 10ohm 0.25w 1% 1206                       18430
-----------------------------------------------------------------------------------------
Stonewood          SBS000309     Resistor 47ohm 0.25w 1% 1206                        7288
-----------------------------------------------------------------------------------------
Stonewood          SBS000384     Resistor 3.3m 0.25w 1% 1206                         7500
-----------------------------------------------------------------------------------------
Stonewood          SBS000385     Resistor 5.1m 0.25w 1% 1206                         3150
-----------------------------------------------------------------------------------------
Stonewood          SBS000386     Resistor 4.7m 0.25w 1% 1206                         2400
-----------------------------------------------------------------------------------------
Stonewood          SBS000387     Resistor 6.8m 0.25w 1% 1206                          250
-----------------------------------------------------------------------------------------
Stonewood          SBS000390     Resistor 4.7ohm 0.25w 1% 1206                       1342
-----------------------------------------------------------------------------------------
Stonewood          SBS000407     Resistor 33ohm 0.063w 1% 0603                       6330
-----------------------------------------------------------------------------------------
Stonewood          SBS000408     Resistor 39ohm 0.063w 1% 0603                       1250
-----------------------------------------------------------------------------------------
Stonewood          SBS000416     Resistor 180ohm 0.063w 1% 0603                      7286
-----------------------------------------------------------------------------------------
Stonewood          SBS000417     Resistor 220ohm 0.063w 1% 0603                      6075
-----------------------------------------------------------------------------------------
Stonewood          SBS000420     Resistor 390ohm 0.063w 1% 0603                      6700
-----------------------------------------------------------------------------------------
Stonewood          SBS000428     Resistor 1.8k 0.063w 1% 0603                        6654
-----------------------------------------------------------------------------------------
Stonewood          SBS000431     Resistor 3.3k 0.063w 1% 0603                        1775
-----------------------------------------------------------------------------------------
Stonewood          SBS000442     Resistor 27k 0.063w 1% 0603                         1954
-----------------------------------------------------------------------------------------
Stonewood          SBS000444     Resistor 39k 0.063w 1% 0603                         5900
-----------------------------------------------------------------------------------------
Stonewood          SBS000453     Resistor 220k 0.063w 1% 0603                       35500
-----------------------------------------------------------------------------------------
Stonewood          SBS000466     Resistor 2.2m 0.063w 1% 0603                       15738
-----------------------------------------------------------------------------------------
Stonewood          SBS000481     Resistor 1.8m 0.063w 1% 0603                        7000
-----------------------------------------------------------------------------------------
Stonewood          SBS000484     Resistor 51ohm 0.063w 1% 0603                       2430
-----------------------------------------------------------------------------------------
Stonewood          SBS000486     Resistor 110ohm 0.063w 1% 0603                      9355
-----------------------------------------------------------------------------------------
Stonewood          SBS000487     Resistor 3.3m 0.063w 1% 0603                        4955
-----------------------------------------------------------------------------------------
Stonewood          SBS000488     Resistor 360k 0.063w 1% 0603                        6950
-----------------------------------------------------------------------------------------
Stonewood          SBS000489     Resistor 36k 0.063w 1% 0603                         6950
-----------------------------------------------------------------------------------------
Stonewood          SBS000490     Resistor 13k 0.063w 1% 0603                         7050
-----------------------------------------------------------------------------------------
Stonewood          SBS000491     Resistor 430ohm 0.063w 1% 0603                      7175
-----------------------------------------------------------------------------------------
Stonewood          SBS000492     Resistor 130k 0.063w 1% 0603                        2800
-----------------------------------------------------------------------------------------
Stonewood          SBS000504     Resistor 49R9 0.125w 1% 50ppm                       5486
-----------------------------------------------------------------------------------------
Stonewood          SBS000505     Resistor 7K15 0.125w 1% 50ppm                       3070
-----------------------------------------------------------------------------------------
Stonewood          SBS000545     Resistor 4.7mohm 0.063 1% 0603                      4000
-----------------------------------------------------------------------------------------
Stonewood          SBS000546     Resistor 5.1mohm 0.063 1% 0603                      3975
-----------------------------------------------------------------------------------------
Stonewood          SBS000549     Resistor 49R9 0.063w 1% 0603                        8550
-----------------------------------------------------------------------------------------
Stonewood          SBS000550     Resistor 7K15 0.063w 1% 0603                        8575
-----------------------------------------------------------------------------------------
Stonewood          SBS000551     Resistor 2.4mohm 0.063 5% 0603                      5000
-----------------------------------------------------------------------------------------
Stonewood          SBS000552     Resistor 3.0mohm 0.063 5% 0603                      5000
-----------------------------------------------------------------------------------------
Stonewood          SBS000553     Resistor 5.1mohm 0.063 5% 0603                      5000
-----------------------------------------------------------------------------------------
Stonewood          SBS000554     Resistor 6.8mohm 0.063 5% 0603                      5000
-----------------------------------------------------------------------------------------
Stonewood          SBS000555     Resistor 7.5mohm 0.063 5% 0603                      5000
-----------------------------------------------------------------------------------------
</TABLE>

                                       85

<PAGE>

<TABLE>
-----------------------------------------------------------------------------------------
<S>                <C>           <C>                                                 <C>
Stonewood          SCS000138     Cap. X7R 1.0uF 16v 10% 1206                         8546
-----------------------------------------------------------------------------------------
Stonewood          SCS000235     Cap. COG 150pF 50v 5% 0603                          7800
-----------------------------------------------------------------------------------------
Stonewood          SCS000236     Cap. Z5U 0.1uF 50v 20% 0805                         4309
-----------------------------------------------------------------------------------------
Stonewood          SCS000239     Cap. Y5V 1uF 25v 1206                               1375
-----------------------------------------------------------------------------------------
Stonewood          SCS000242     Cap. COG 10pF 50v 0603                              3898
-----------------------------------------------------------------------------------------
Stonewood          SCS000243     Cap. X7R 0.01uF 50v 10% 0603                        2050
-----------------------------------------------------------------------------------------
Stonewood          SCS000254     Cap. COG 33pF 50v 5% 0603                           2243
-----------------------------------------------------------------------------------------
Stonewood          SCS000255     Cap. COG 47pF 50v 5% 0603                           2285
-----------------------------------------------------------------------------------------
Stonewood          SCS000259     Cap. X7R 1000pF 50v 10% 0603                        2830
-----------------------------------------------------------------------------------------
Stonewood          SCS000261     Cap. Tant 33uF 25v 10% Type-E                       2012
-----------------------------------------------------------------------------------------
Stonewood          SCS000264     Cap. Cer 220pF 50v 10% 0603                         4375
-----------------------------------------------------------------------------------------
Stonewood          SCS000266     Cap. Cer 4.7nF 50v 5% 1206                          3150
-----------------------------------------------------------------------------------------
Stonewood          SCS000267     Cap. Cer 6.8nF 50v 5% 1210                          2400
-----------------------------------------------------------------------------------------
Stonewood          SCS000268     Cap. Y5V 0.1uF 50v +80-20 0603                      7725
-----------------------------------------------------------------------------------------
Stonewood          SCS000269     Cap. Cer 470nF 16v 10% 1206                         3100
-----------------------------------------------------------------------------------------
Stonewood          SCS000270     Cap. Tant 68uF 25v L/ESR TAJV                       5379
-----------------------------------------------------------------------------------------
Stonewood          SCS000271     Cap. Tant 330uF 10v L/ESR TAJV                      4432
-----------------------------------------------------------------------------------------
Stonewood          SCS000272     Cap. Tant 10uF 6.3v 10% Type-A                      1775
-----------------------------------------------------------------------------------------
Stonewood          SCS000274     Cap. Tant 33uF 6.3v 10% Type-B                      1250
-----------------------------------------------------------------------------------------
Stonewood          SCS000275     Cap. Tant 47uF 16v 10% Type-D                       1975
-----------------------------------------------------------------------------------------
Stonewood          SCS000287     Cap. MLC Y5V 2.2UF 16v 1206                         7123
-----------------------------------------------------------------------------------------
Stonewood          SCS000315     Cap. Multilayer 100pF 50v 0603                       360
-----------------------------------------------------------------------------------------
Stonewood          SCS000363     Cap. Cer 1nF 50v 0603                               3775
-----------------------------------------------------------------------------------------
Stonewood          SCS000381     Cap. X7R 15nF 50v 5% 0603                           3975
-----------------------------------------------------------------------------------------
Stonewood          SDS000185     Transistor 2N7002 60v SOT23                         2810
-----------------------------------------------------------------------------------------
Stonewood          SDS000205     Diode BAT54C SOT-23                                  950
-----------------------------------------------------------------------------------------
Stonewood          SDS000213     Oscillator 40MHz GXO-U108H                          2554
-----------------------------------------------------------------------------------------
Stonewood          SDS000220     DIODE BZX84-C4V7                                     849
-----------------------------------------------------------------------------------------
Stonewood          SDS000227     Xtal 25Mhz GSX49-4 30pF                              627
-----------------------------------------------------------------------------------------
Stonewood          SDS000229     Inductor 22000pF NFA62R10C223                        850
-----------------------------------------------------------------------------------------
Stonewood          SDS000231     5.6v Transguard Varistor 1206                       1355
-----------------------------------------------------------------------------------------
Stonewood          SDS000232     14v Transguard Suppressor 1206                       255
-----------------------------------------------------------------------------------------
Stonewood          SDS000233     Transistor MMUN2116LT1                              3588
-----------------------------------------------------------------------------------------
Stonewood          SDS000234     Transistor MMUN2216LT1 SOT-23                        231
-----------------------------------------------------------------------------------------
Stonewood          SDS000236     Oscillator 12.0Mhz GXO-U108L                        1332
-----------------------------------------------------------------------------------------
Stonewood          SDS000237     Oscillator 3.6864MHz GXO-U108L                       977
-----------------------------------------------------------------------------------------
Stonewood          SDS000238     Xtal 32.768Khz GSX-200/D 6pF                        3976
-----------------------------------------------------------------------------------------
Stonewood          SDS000239     Xtal 4Mhz GSX49-4 16pF                                12
-----------------------------------------------------------------------------------------
Stonewood          SDS000240     Diode Zener 2.4v SOT23                               228
-----------------------------------------------------------------------------------------
Stonewood          SDS000241     Diode BAV199LT1 SOT23 Low Leak                        80
-----------------------------------------------------------------------------------------
Stonewood          SDS000242     Rectifier MBRA13OLT3                                1297
-----------------------------------------------------------------------------------------
Stonewood          SDS000243     Inductor 15uH CTX15-4 Case4                           96
-----------------------------------------------------------------------------------------
Stonewood          SDS000245     Regulator EZ1582CM2.5 TO-263                        1829
-----------------------------------------------------------------------------------------
Stonewood          SDS000246     Rectifier IRF7311 SO-8                               173
-----------------------------------------------------------------------------------------
Stonewood          SDS000256     Regulator LP2985IM5-3.3                              652
-----------------------------------------------------------------------------------------
Stonewood          SDS000257     Oscillator 25MHz GXO-U108L                          1236
-----------------------------------------------------------------------------------------
Stonewood          SDS000259     Inductor BLM31A601S                                 1675
-----------------------------------------------------------------------------------------
Stonewood          SDS000273     Inductor LMB31A601S                                  873
-----------------------------------------------------------------------------------------
Stonewood          SDS000336     Regulator SC1566IM-1.8 TO263-3                        12
-----------------------------------------------------------------------------------------
Stonewood          SDS000337     Regulator SC1566IM-2.5 TO263-3                        12
-----------------------------------------------------------------------------------------
</TABLE>

                                       86

<PAGE>

<TABLE>
-----------------------------------------------------------------------------------------
<S>                <C>           <C>                                                <C>
Stonewood          SDS000352     Mosfet NDS332 P-Chan. SOT23-3                          5
-----------------------------------------------------------------------------------------
Stonewood          SES000047     Red LED HLMP-6300-011                               1404
-----------------------------------------------------------------------------------------
Stonewood          SES000048     Green LED HLMP-6500-F0011                            697
-----------------------------------------------------------------------------------------
Stonewood          SES000049     Yellow LED HLMP-6400-011                             783
-----------------------------------------------------------------------------------------
Stonewood          SKS000520     Mesh Conn. 04-6214-027-010-800                       985
-----------------------------------------------------------------------------------------
Stonewood          SKS000521     31way BERG Socket 91931-31131                        478
-----------------------------------------------------------------------------------------
Stonewood          SKS000522     2x5way Socket SFM105-02-SDTR                         297
-----------------------------------------------------------------------------------------
Stonewood          SKS000523     2x20way Socket SFM120-02-SDTR                        132
-----------------------------------------------------------------------------------------
Stonewood          SKS000524     Flexi Connector 93743-130                             48
-----------------------------------------------------------------------------------------
Stonewood          SKS000534     2x50way Conn. FTSH150-03-LDVEC                       108
-----------------------------------------------------------------------------------------
Stonewood          SKS000540     31 WAY CONNECTOR                                      33
-----------------------------------------------------------------------------------------
Stonewood          SKS000550     2x50way Header TFM150-02-SDP                           8
-----------------------------------------------------------------------------------------
Stonewood          SKS000565     SM CONNECTOR SFM150-02-S-D-P                         338
-----------------------------------------------------------------------------------------
Stonewood          SKS000588     50way Plug FTSH150-04-LDV                             40
-----------------------------------------------------------------------------------------
Stonewood          SKS000617     2x60way Socket QTH60-01-LDA                            2
-----------------------------------------------------------------------------------------
Stonewood          SS000038      Copper Tape 33mx19mmx0.076mm                           4
-----------------------------------------------------------------------------------------
Stonewood          SS000075      Epoxy Potting Compound J1575                          15
-----------------------------------------------------------------------------------------
Stonewood          SS000078      EMC Window CCP-175-30x30                             128
-----------------------------------------------------------------------------------------
Stonewood          SS000079      Foam EMC Shielding Gasket                             15
-----------------------------------------------------------------------------------------
Stonewood          SVS000042     Slow Blow Fuse 2amp R452.002                         856
-----------------------------------------------------------------------------------------
Stonewood          TS000603      Battery QTC85 3B940 AA PC                            424
-----------------------------------------------------------------------------------------
Stonewood          TS000620      Lithium Battery 7.2Ah C-Size                         198
-----------------------------------------------------------------------------------------
Stonewood          TS000662      30mm Grooved Pin Blk 0562x30                        1369
-----------------------------------------------------------------------------------------
Stonewood          TS000665      M3.1x6x2mm Round Spacer                             2452
-----------------------------------------------------------------------------------------
Stonewood          TS000666      M3.1x6x4mm Round Spacer                              124
-----------------------------------------------------------------------------------------
Stonewood          TS000667      M3x35 Spacer Hex Brass                              1323
-----------------------------------------------------------------------------------------
Stonewood          TS000668      Insert Foot 7x16mmDia                                717
-----------------------------------------------------------------------------------------
Stonewood          TS000669      Baltimore Tamper Evident Bag                          26
-----------------------------------------------------------------------------------------
Stonewood          TS000828      M3 6.5x35MM Round Spacer                              50
-----------------------------------------------------------------------------------------
Stonewood          WS000004      M2 Nut BZP                                            44
-----------------------------------------------------------------------------------------
Stonewood          XS000028      White Label 9.53x9.53                              30000
-----------------------------------------------------------------------------------------
Stonewood          XS000029      Silver Label 25.4x4.75                             21916
-----------------------------------------------------------------------------------------
Stonewood          YS000023      M3x10 Screw Pozi Pan BZP                            1958
-----------------------------------------------------------------------------------------
Stonewood          YS000058      M3x12 Screw Pozi Pan BZP                             373
-----------------------------------------------------------------------------------------
Stonewood          YS000075      M6 Shakeproof Washer                                1385
-----------------------------------------------------------------------------------------
Stonewood          YS000103      M3 Spring Washer                                     861
-----------------------------------------------------------------------------------------
Stonewood          YS000149      No.4x1/4 Plastite Screw                              237
-----------------------------------------------------------------------------------------
Stonewood          YS000150      M3x6 Screw Button Head BZP                           118
-----------------------------------------------------------------------------------------
Stonewood          YS000151      No.4x6.5mm Screw Pozi Pan                            509
-----------------------------------------------------------------------------------------
Stonewood          YS000152      Mono-Drive Screw Pan Head                           1661
-----------------------------------------------------------------------------------------
Stonewood          YS000153      Mono-Drive Screw C/Snk                               392
-----------------------------------------------------------------------------------------
Stonewood          YS000154      No.2x6.3 Screw S/Tap BZP                              90
-----------------------------------------------------------------------------------------
Stonewood          YS000157      M3x12 Screw Pozi S/Tap BZP                           135
-----------------------------------------------------------------------------------------
Stonewood          YS000160      M2 Plain Steel Washer                                182
-----------------------------------------------------------------------------------------
Stonewood          YS000182      M3x20 Mono-Drive Button Head                           8
-----------------------------------------------------------------------------------------
Stonewood          YS000183      M2x8 Screw Pozi Pan BZP                               35
-----------------------------------------------------------------------------------------
Stonewood          Z1007-P58     Red Keytop (Erase)                                   421
-----------------------------------------------------------------------------------------
Stonewood          Z1007-P59     Orange Keytop (Restart)                              144
-----------------------------------------------------------------------------------------
Stonewood          Z2595-P1      HSM/NSP I/Face PCB Insulator                        1439
-----------------------------------------------------------------------------------------
Stonewood          Z2595-P2      EMC Can Insulator                                      5
-----------------------------------------------------------------------------------------
</TABLE>

                                       87

<PAGE>

<TABLE>
-----------------------------------------------------------------------------------------
<S>                <C>           <C>                                                 <C>
Stonewood          Z2597-P1      HSM/NSP Keypad Membrane (issB)                        26
-----------------------------------------------------------------------------------------
Stonewood          Z2597-P2      HSM/NSP Keypad Membrane (issC)                       310
-----------------------------------------------------------------------------------------
Stonewood          Z2620-P1      Front Fascia (4-Hole) LAN/WAN                        296
-----------------------------------------------------------------------------------------
Stonewood          Z2620-P10     Front Fascia (2-Hole) LAN                              4
-----------------------------------------------------------------------------------------
Stonewood          Z2620-P11     Front Fascia (2-Hole) LAN/WAN                         31
-----------------------------------------------------------------------------------------
Stonewood          Z2620-P14     NSP 1-Port Base Fabrication                           50
-----------------------------------------------------------------------------------------
Stonewood          Z2620-P14/S   NSP 1-Port Base Fabrication                           85
-----------------------------------------------------------------------------------------
Stonewood          Z2620-P2      Front Fascia Flap                                   1093
-----------------------------------------------------------------------------------------
Stonewood          Z2620-P3      HSM/NSP Lid Fabrication                               69
-----------------------------------------------------------------------------------------
Stonewood          Z2620-P3/S    HSM/NSP Lid Fabrication                              195
-----------------------------------------------------------------------------------------
Stonewood          Z2620-P4      HSM 2-Port Base Fabrication                           24
-----------------------------------------------------------------------------------------
Stonewood          Z2620-P4/S    HSM 2-Port Base Fabrication                          204
-----------------------------------------------------------------------------------------
Stonewood          Z2620-P5      Fascia Mounting Bracket L/H                          243
-----------------------------------------------------------------------------------------
Stonewood          Z2620-P5/S    Fascia Mounting Bracket L/H                          233
-----------------------------------------------------------------------------------------
Stonewood          Z2620-P6      Fascia Mounting Bracket R/H                          250
-----------------------------------------------------------------------------------------
Stonewood          Z2620-P6/S    Fascia Mounting Bracket R/H                          232
-----------------------------------------------------------------------------------------
Stonewood          Z2620-P7      SCR Mounting Bracket Front                           102
-----------------------------------------------------------------------------------------
Stonewood          Z2620-P7/S    SCR Mounting Bracket Front                           248
-----------------------------------------------------------------------------------------
Stonewood          Z2620-P8      SCR Mounting Bracket Rear                            109
-----------------------------------------------------------------------------------------
Stonewood          Z2620-P8/S    SCR Mounting Bracket Rear                            260
-----------------------------------------------------------------------------------------
Stonewood          Z2621-P1      Kernel Outer Box S/Assy                               64
-----------------------------------------------------------------------------------------
Stonewood          Z2621-P1/S    Kernel Outer Box S/Assy                              124
-----------------------------------------------------------------------------------------
Stonewood          Z2621-P12     HiFN Inner Box Top                                    19
-----------------------------------------------------------------------------------------
Stonewood          Z2621-P12/S   HiFN Inner Box Top                                   295
-----------------------------------------------------------------------------------------
Stonewood          Z2621-P13     HiFN Inner Box Base                                   15
-----------------------------------------------------------------------------------------
Stonewood          Z2621-P13/S   HiFN Inner Box Base                                  295
-----------------------------------------------------------------------------------------
Stonewood          Z2621-P2      Kernel Inner Box Top                                  62
-----------------------------------------------------------------------------------------
Stonewood          Z2621-P3      Kernel Inner Box Base                                 74
-----------------------------------------------------------------------------------------
Stonewood          Z2621-P4      HSM/NSP Silpad                                        39
-----------------------------------------------------------------------------------------
Stonewood          Z2621-P5      Kernel Silpad                                        751
-----------------------------------------------------------------------------------------
Stonewood          Z2628-P1      I/F PCB Screening Can (issA)                          20
-----------------------------------------------------------------------------------------
Stonewood          Z2628-P2      I/F PCB Screening Can (issA)                         295
-----------------------------------------------------------------------------------------
Stonewood          Z2655-P1      HSM/NSP Keypad Membrane (issA)                       100
-----------------------------------------------------------------------------------------
Stonewood          Z2745-P1      v.2 Runner Base Cover Plate                            4
-----------------------------------------------------------------------------------------
Stonewood          ZAS000417     I.C. PQR512 PQFP100                                  123
-----------------------------------------------------------------------------------------
Stonewood          272000-P1     PCI Card PCB Fab. 2651-P1-A                          121
-----------------------------------------------------------------------------------------
Stonewood          272000-P2     PCI Card Kernel Spacers                               56
-----------------------------------------------------------------------------------------
Stonewood          272010-P2     PCI Card Kernel Lid (issF)                            23
-----------------------------------------------------------------------------------------
Stonewood          272010-P3     PCI Card Kernel L/H Bracket                           13
-----------------------------------------------------------------------------------------
Stonewood          272010-P4     PCI Card Kernel R/H Bracket                           13
-----------------------------------------------------------------------------------------
Stonewood          272010-P5     PCI Card Kernel Support                                2
-----------------------------------------------------------------------------------------
Stonewood          272010-P6     PCI Card Conductive Spacer                            55
-----------------------------------------------------------------------------------------
Stonewood          272010-P7     PCI Card Non-Conductive Spacer                       189
-----------------------------------------------------------------------------------------
Stonewood          272100-P1     PCI Card Bracket IssA                                769
-----------------------------------------------------------------------------------------
Stonewood          272510-P1     PCI Test Main PCB Fab.                                 1
-----------------------------------------------------------------------------------------
Stonewood          272520-P1     PCI Upriser PCB Fabrication                            1
-----------------------------------------------------------------------------------------
Stonewood          272530-P1     PCI Test Interface PCB Fab.                            1
-----------------------------------------------------------------------------------------
Stonewood          420010-P1     OmniPort PCB Fab.                                    208
-----------------------------------------------------------------------------------------
Stonewood          420020-P1     OmniPort Left Hand Screw Tab                          16
-----------------------------------------------------------------------------------------
Stonewood          420030-P1     OmniPort Right Hand Screw Tab                         14
-----------------------------------------------------------------------------------------
</TABLE>

                                       88

<PAGE>

<TABLE>
-----------------------------------------------------------------------------------------
<S>                <C>           <C>                                                 <C>
Stonewood          420100-P10    OmniPort Cable Clamp                                  60
-----------------------------------------------------------------------------------------
Stonewood          420100-P2     OmniPort Stand                                         2
-----------------------------------------------------------------------------------------
Stonewood          420100-P3     OmniPort Top End Cap                                   1
-----------------------------------------------------------------------------------------
Stonewood          420100-P4     OmniPort Bottom End Cap                                1
-----------------------------------------------------------------------------------------
Stonewood          420100-P6     OmniPort Escutcheon                                   83
-----------------------------------------------------------------------------------------
Stonewood          420100-P7     OmniPort Keypad Membrane                             834
-----------------------------------------------------------------------------------------
Stonewood          420100-P8     OmniPort Weight                                        7
-----------------------------------------------------------------------------------------
Stonewood          AS000195      I.C. 74HCT00 Quad 2-IP NAND                          195
-----------------------------------------------------------------------------------------
Stonewood          AS000502      LCD Module COG16265-V01-DP10.0                       261
-----------------------------------------------------------------------------------------
Stonewood          AS000658      I.C. PIC16C62B-04/SP                                  10
-----------------------------------------------------------------------------------------
Stonewood          AS000659      I.C. MAX312CPE 16pin DIL                               1
-----------------------------------------------------------------------------------------
Stonewood          AS000661      I.C. MAX205CPG 24pin DIL                               1
-----------------------------------------------------------------------------------------
Stonewood          AS000665      I.C. OPA251PA                                          1
-----------------------------------------------------------------------------------------
Stonewood          AS000667      I.C. INA122PA                                          1
-----------------------------------------------------------------------------------------
Stonewood          BS000029      Resistor MF 4.7k 0.33w 5%                             56
-----------------------------------------------------------------------------------------
Stonewood          BS000153      Resistor MF 360ohm 0.60w 1%                         1008
-----------------------------------------------------------------------------------------
Stonewood          BS000537      Resistor MF 1k 0.25w 0.1%                             10
-----------------------------------------------------------------------------------------
Stonewood          BS000538      Resistor MF 100k 0.25w 0.1%                            5
-----------------------------------------------------------------------------------------
Stonewood          CS000346      Cap. Elect 470uF 16v 53mohm                            2
-----------------------------------------------------------------------------------------
Stonewood          CS000347      Cap. Elect 330uF 35v 85mohm                           67
-----------------------------------------------------------------------------------------
Stonewood          CS000349      Cap. Elect 220uF 25v 85mohm                            7
-----------------------------------------------------------------------------------------
Stonewood          DS000223      Diode Schottky 1N5820 DO-27                          454
-----------------------------------------------------------------------------------------
Stonewood          KS000282      9WAY D COVER                                          82
-----------------------------------------------------------------------------------------
Stonewood          KS000584      9way Mini-Din Socket MDJ9DM                            1
-----------------------------------------------------------------------------------------
Stonewood          KS000592      2x10way Header FTS110-01-LD                          388
-----------------------------------------------------------------------------------------
Stonewood          KS000608      9WAY MINI DIN PLUG                                     3
-----------------------------------------------------------------------------------------
Stonewood          KS001444      10way IDC Header 0.1" 26awg                          302
-----------------------------------------------------------------------------------------
Stonewood          KS001452      2x50way Conn. FTSH150-04-LD                            1
-----------------------------------------------------------------------------------------
Stonewood          KS001456      BNC Connector 50ohm                                    1
-----------------------------------------------------------------------------------------
Stonewood          KS001459      64way A/C 4mm DIN Plug                                 2
-----------------------------------------------------------------------------------------
Stonewood          KS001460      64way A/C 4mm DIN Socket                               2
-----------------------------------------------------------------------------------------
Stonewood          KS001461      20way Header ETH110-01-SD                              1
-----------------------------------------------------------------------------------------
Stonewood          KS001462      96way DIN Plug 90o                                     2
-----------------------------------------------------------------------------------------
Stonewood          MSK1440       Double Sided Tape Sheet                              347
-----------------------------------------------------------------------------------------
Stonewood          NS000002      Red Kynar Wire 30AWG                                  90
-----------------------------------------------------------------------------------------
Stonewood          NS000429      100way Ribbon Cable 0.635mm                            4
-----------------------------------------------------------------------------------------
Stonewood          OS000074      RUB/GROMMET ID 6 OD 9 NOMINAL                        106
-----------------------------------------------------------------------------------------
Stonewood          QS000172      SPNC TACT Switch DTSA61R                            1960
-----------------------------------------------------------------------------------------
Stonewood          SAS000491     I.C. LM2585S-12 12v TO-263                           116
-----------------------------------------------------------------------------------------
Stonewood          SAS000492     I.C. LM39401S-3.3 Regulator 1a                        32
-----------------------------------------------------------------------------------------
Stonewood          SAS000493     I.C. MC74AC04D Hex Inverter                           58
-----------------------------------------------------------------------------------------
Stonewood          SAS000495     I.C. 74FCT245AQT QSOP20                               23
-----------------------------------------------------------------------------------------
Stonewood          SAS000496     I.C. 74FCT574ATQ QSOP                                 22
-----------------------------------------------------------------------------------------
Stonewood          SAS000632     I.C. AM79C972BVC E/Net Control                       129
-----------------------------------------------------------------------------------------
Stonewood          SAS000633     I.C. LM2937ES-8.0 Regulator                           33
-----------------------------------------------------------------------------------------
Stonewood          SAS000634     I.C. 93LC46B/SN 64x16 EEPROM                         100
-----------------------------------------------------------------------------------------
Stonewood          SAS000635     I.C. P82B715TD SO-8 Extender                          60
-----------------------------------------------------------------------------------------
Stonewood          SAS000639     I.C. 93C46B/ST TSSOP-8                               176
-----------------------------------------------------------------------------------------
Stonewood          SAS000642     Gemplus I.C. MC100 QFP44 v1.1                         24
-----------------------------------------------------------------------------------------
Stonewood          SAS000643     Gemplus I.C. IC100 TSSOP24                           104
-----------------------------------------------------------------------------------------
</TABLE>

                                       89

<PAGE>

<TABLE>
-----------------------------------------------------------------------------------------
<S>                <C>           <C>                                                 <C>
Stonewood          SAS000691     Gemplus I.C. MC100 QFP44 v1.21                       175
-----------------------------------------------------------------------------------------
Stonewood          SBS000400     Resistor 1ohm 0.063 5% 0603                         3700
-----------------------------------------------------------------------------------------
Stonewood          SCS000253     CAP TANT 0.68 UF 20V                                1950
-----------------------------------------------------------------------------------------
Stonewood          SCS000306     Cap. Cer 10nF 50v 10% 0805                          3525
-----------------------------------------------------------------------------------------
Stonewood          SCS000324     Cap. Cer 22nF 25v 10% 0603                          3950
-----------------------------------------------------------------------------------------
Stonewood          SCS000350     Cap. Tant 47uF 25v CaseD                              67
-----------------------------------------------------------------------------------------
Stonewood          SCS000352     Cap. Tant 22uF 10v 10% CaseC                         200
-----------------------------------------------------------------------------------------
Stonewood          SDS000224     Oscillator 50MHz GXO-U108H/B                        1783
-----------------------------------------------------------------------------------------
Stonewood          SDS000310     15uH Inductor CDRH127-150MC                          762
-----------------------------------------------------------------------------------------
Stonewood          SDS000314     Xtal 14.7456Mhz GSX49-4                              290
-----------------------------------------------------------------------------------------
Stonewood          SDS000315     Inductor 100uH 3613A101K                              16
-----------------------------------------------------------------------------------------
Stonewood          SKS000583     50way Socket FLE-150-01-G-DV                           5
-----------------------------------------------------------------------------------------
Stonewood          SKS000585     31way BERG Header 91911-31131                         12
-----------------------------------------------------------------------------------------
Stonewood          SKS000586     31way PCB Mounting Receptacle                         25
-----------------------------------------------------------------------------------------
Stonewood          SKS000587     50way Socket SFMC150-L2-SD                             0
-----------------------------------------------------------------------------------------
Stonewood          SKS000591     SmartCard Connector CCM01-2251                         9
-----------------------------------------------------------------------------------------
Stonewood          SKS000593     2x10way Socket CLP110-02-LDBE                        302
-----------------------------------------------------------------------------------------
Stonewood          SS000016      1" Wide Kapton Tape 33m Reel                          11
-----------------------------------------------------------------------------------------
Stonewood          SVS000027     2.0a PolyFuse SMD200-2018-2                          495
-----------------------------------------------------------------------------------------
Stonewood          SVS000028     450mA PolyFuse MINISMDC050                             3
-----------------------------------------------------------------------------------------
Stonewood          SVS000041     2.0a PolyFuse MINISMDC200-2                         1796
-----------------------------------------------------------------------------------------
Stonewood          TS000709      3.6v Lithium Battery LS14500C                        140
-----------------------------------------------------------------------------------------
Stonewood          TS000714      Mini-Din Moulded Cable GT901                         102
-----------------------------------------------------------------------------------------
Stonewood          TS000745      20way R/Cable TCSD10D05.00-01F                         1
-----------------------------------------------------------------------------------------
Stonewood          TS000746      M5x25mm Nylon Spacer                                  40
-----------------------------------------------------------------------------------------
Stonewood          TS000748      FERRITE I/D 6.0 SNAP ON                                9
-----------------------------------------------------------------------------------------
Stonewood          TS000749      Mini-Din Moulded Cable GT901                         425
-----------------------------------------------------------------------------------------
Stonewood          WS000007      M5 Nut BZP                                           402
-----------------------------------------------------------------------------------------
Stonewood          YS000133      M4 Fibre Washer                                     2696
-----------------------------------------------------------------------------------------
Stonewood          YS000156      M2.5x8 Screw S/Tap Pozi BZP                          523
-----------------------------------------------------------------------------------------
Stonewood Total
-----------------------------------------------------------------------------------------
Grand Total
-----------------------------------------------------------------------------------------
</TABLE>

                                       90

<PAGE>

                                   SCHEDULE 12

                              Baltimore Trade Marks

Trade Mark           Status       No.        Classes         Registry

BALTIMORE            Advertised   2185858    9, 16, 37, 42     UK
SQUARE DEVICE        Registered   1237588    9, 16, 42         CTM
BALTIMORE            Registered   1152305    9, 16, 42         CTM
BALTIMORE & DEVICE   Pending      75750855   9, 42             US
SQUARE DEVICE        Registered   75707858   9, 42             US

                                       91

<PAGE>

IN WITNESS whereof this Deed has been entered into the day and year first before
written.

[EXECUTED as a deed by the             )
affixing of the Common Seal       )
of  Baltimore Technologies plc    )
in the presence of:               )

Director

Director/Secretary]

EXECUTED as a deed by the              )
affixing of the Common Seal       )
of AEP Systems International Limited               )
in the presence of:               )

Director

Director/Secretary

Present when the
Common Seal of
Baltimore Technologies
Limited was affixed
Hereto: -

                                       92

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00052-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00052-of-00352.parquet"}]]