Document:

EXHIBIT 10.9

                                 PROMISSORY NOTE

$60,000                                                Dated:  December 12, 2003
-------                                                -------------------------

1. Principal.

FOR VALUE  RECEIVED,  the  undersigned,  Mongolian  Explorations  Ltd., a Nevada
corporation ("Borrower"),  hereby promises to pay to the order of Ivan Bebek, of
Vancouver ("Lender"),  the principal sum of Sixty Thousand Dollars (U.S.$60,000)
(the "Loan") without interest with no fixed terms of repayment.

2. Manner of Payment.

Principal on the Loan, and all other amounts payable  hereunder,  are payable in
lawful currency of United States in immediately  available funds at such address
and in such form as may be required by Lender.

Unless  accelerated  pursuant to the terms of this Note,  the unpaid  balance of
this Note,  shall be due and payable on demand (the  "Maturity  Date.  No amount
paid under this Note may be  reborrowed.  All payments  received by Lender under
this Note shall be  credited  first to any charges or other  expenses  for which
Lender is entitled to payment hereunder, next to unpaid principal.

3. Events of Default/Remedies.

      a. Events of Default.  Any of the  following  events shall  constitute  an
         Event of Default:

         (1) breach by Borrower of any of  Borrower's  obligations  or covenants
         under this Note; or

         (2)  Borrower  (A) becomes  insolvent  or admits in writing  Borrower's
         inability  to pay  Borrower's  debts  as they  mature,  (B)  makes  any
         assignment for the benefit of creditors, or (C) applies for or consents
         to the  appointment  of a receiver  or trustee  for  Borrower  or for a
         substantial part of Borrower's  property or business,  or a receiver or
         trustee otherwise is appointed and is not discharged within thirty (30)
         days after such appointment; or

         (3) any of Borrower's  representations  or warranties made herein or in
         any  statement or  certificate  at any time given by Borrower  pursuant
         hereto or in connection herewith is false or misleading in any material
         respect; or

         (4)  any   bankruptcy,   insolvency,   reorganization   or  liquidation
         proceeding or other  proceeding  for relief under any bankruptcy law or
         any law for the relief of debtors is instituted by or against Borrower;
         or

         (5) any money  judgment,  writ or  warrant  of  attachment,  or similar
         process  (singly  or,  if more  than  one,  cumulatively  in  excess of
         USD$15,000)  is entered or filed against  Borrower or any of the assets
         of Borrower and (A) remains unvacated,  unbonded, unstayed, undismissed
         or undischarged  for a period of thirty (30) days or in any event later
         than five (5) days before the date of any proposed sale thereunder,  or
         (B)  Borrower  has not  appealed  the same in good  faith  to  Lender's
         satisfaction; or

<PAGE>

         (6) the  condition,  financial or  otherwise,  of Borrower  suffers any
         material adverse change, in the reasonable opinion of Lender; or

      b. Remedies. Upon demand or upon the occurrence and during the continuance
      of an Event of Default described in Subsections  3(a)(2) or 3(a)(4) above,
      all  indebtedness  under this Note shall  automatically be immediately due
      and payable.  In addition,  Lender,  at its option,  and without notice to
      Borrower,  may take one or more of the actions  described below.  Upon the
      occurrence  and  during the  continuance  of any other  Event of  Default,
      Lender at its option and, unless otherwise specified below, without notice
      to Borrower, may do any one or more of the following:

         (1)  declare  all  indebtedness  under  this Note  immediately  due and
         payable and credit any sums  received  thereafter  in such manner as it
         elects upon such indebtedness; provided, however, that such application
         of sums so  received  shall  not  serve to  waive  or cure any  default
         existing under this Note nor to invalidate any notice of default or any
         act done  pursuant to such notice and shall not prejudice any rights of
         Lender; and

         (2) exercise any or all rights  provided or permitted by law or granted
         pursuant  to this Note in such order and in such  manner as Lender may,
         in its sole judgment, determine.

      c. No Waiver of Remedies.  No waiver of any breach of or default under any
      provision  of this Note shall  constitute  or be  construed as a waiver by
      Lender of any  subsequent  breach of or  default  under  that or any other
      provision of this Note.

      d.  Remedies Not  Exclusive.  No remedy  herein  conferred  upon Lender is
      intended  to be  exclusive  of any  other  remedy  herein  or in any other
      agreement between the parties hereto or by law provided or permitted,  but
      each shall be  cumulative  and shall be in addition to every other  remedy
      given  hereunder  or now or  hereafter  existing  at law,  in equity or by
      statute.

4. Covenants and Agreements.

Borrower  hereby  makes the  following  covenants,  which  shall be deemed to be
continuing  covenants  until payment in full of all  indebtedness of Borrower to
Lender arising under this Note:

      a. Borrower shall  promptly  notify Lender in writing of the occurrence of
      any act or event including, without limitation, the commencement or threat
      of any action,  suit,  claim or  proceeding  against or  investigation  of
      Borrower,  which could  materially and adversely  affect Borrower or which
      could impair the validity,  effectiveness or enforceability  of, or impair
      Borrower's ability to perform its obligations under, this Note, and of the
      occurrence  of any Event of Default or any event  which with the giving of
      notice,  the lapse of time, or both,  would become an Event of Default and
      the action Borrower proposes to take with respect thereto.

      b.  Borrower  shall,  at any time and from time to time,  upon the written
      request of Lender,  execute and deliver to Lender such  further  documents
      and instruments and do such other acts and things as Lender may reasonably
      request in order to effectuate fully the purpose and intent of this Note.

<PAGE>

5. Representations and Warranties of Borrower.

Borrower hereby makes the following representations and warranties,  which shall
be deemed to be continuing  representations and warranties until payment in full
of all indebtedness of Borrower to Lender arising pursuant to this Note:

      a. No Conflict.  The execution,  delivery and performance of this Note are
      not in  contravention  of or in conflict with any agreement,  indenture or
      undertaking  to which  Borrower is a party or by which  Borrower or any of
      Borrower's  assets or property  may be bound or affected  and do not cause
      any security interest,  lien or other encumbrance to be created or imposed
      upon any such property by reason thereof.

      b. Litigation.  There is no action,  suit or proceeding pending or, to the
      best of Borrower's  knowledge and belief,  threatened against or affecting
      Borrower which could impair the validity,  effectiveness or enforceability
      of, or impair  Borrower's  ability to perform its obligations  under, this
      Note,  whether said actions,  suits or proceedings are at law or in equity
      or before or by any governmental authority.

6. Legal Fees.

Borrower  agrees to pay all costs and  expenses,  including  without  limitation
reasonable   attorneys'  fees,   incurred  by  Lender  in  connection  with  the
enforcement of any obligation of Borrower under this Note.

7. Severability.

In case any term or any  provision  of this Note  shall be  invalid,  illegal or
unenforceable,  such provision shall be severable from the rest of this Note and
the validity,  legality and enforceability of the remaining provisions shall not
in any way be affected or impaired thereby.

8. Headings.

Headings  used in this Note are inserted for  convenience  only and shall not be
deemed to constitute a part hereof.

9. Governing Law.

This Note shall be governed by and construed in accordance  with the laws of the
State of Nevada.

                                         Borrower:

                                         MONGOLIAN EXPLORATIONS LTD.
                                         a Nevada corporation

                                         By:/s/ Ivan Bebek
                                         Ivan Bebek, President<PAGE>

                                                                   EXHIBIT 10.12

                        AMENDMENT NO. 2 AND CONSENT NO. 2
                          TO REVOLVING CREDIT AGREEMENT

         AMENDMENT NO. 2 AND CONSENT NO. 2 (this "Amendment"), dated as of April
,2004, to the REVOLVING CREDIT AGREEMENT, dated as of August 20, 2003, by and
among HAIGHTS CROSS OPERATING COMPANY (the "Borrower"), the several lenders from
time to time parties thereto (the "Lenders"), BEAR STEARNS CORPORATE LENDING,
INC., as Syndication Agent (in such capacity, the "Syndication Agent"), and THE
BANK OF NEW YORK ("BNY"), as administrative agent for the Lenders (in such
capacity, the "Administrative Agent") as amended by Amendment No. 1 and Consent
No. 1, dated as of January 26, 2004 (and, as further amended from time to time,
the "Credit Agreement").

                                    RECITALS

         I.       Unless defined herein, all capitalized terms used herein shall
have the meanings ascribed to them in the Credit Agreement.

         II.      The Borrower has advised the Administrative Agent and the
Lenders that the Borrower, Holdings, and Triumph Learning, LLC, a wholly owned
subsidiary of the Borrower (the "Buyer"), have entered into an Asset Purchase
Agreement (the "Buckle Down Purchase Agreement") pursuant to which the Buyer
will acquire (the "Buckle Down Acquisition") substantially all of the assets of
Buckle Down Publishing Company (the "Seller") for a purchase price consisting of
$24,000,000 in cash, 3,500 shares of Series C Preferred Stock of Holdings with a
liquidation preference of $1,000 per share and other consideration
(collectively, the "Buckle Down Consideration").

         III.     The amount of Buckle Down Consideration exceeds the
Consideration Cap permitted under the definition of "Permitted Acquisition" for
any single acquisition and for all acquisitions in any twelve month period and,
accordingly, neither the Borrower nor the Buyer may consummate the Buckle Down
Acquisition unless the Required Lenders consent thereto.

         IV.      The Borrower has requested that the Administrative Agent and
the Required Lenders (a) consent to the Buckle Down Acquisition and (b) amend
the definition of "Permitted Acquisitions" to permit certain other acquisitions
without the consent of the Required Lenders.

<PAGE>

         V.       The Administrative Agent and the Required Lenders have agreed
to the Borrower's request on the terms and subject to the conditions set forth
in this Amendment.

                  Accordingly, in consideration of the covenants, conditions and
agreements hereinafter set forth, and for other good and valuable consideration,
the receipt and adequacy of which are hereby acknowledged, the parties hereto
agree as follows:

         1.       CONSENT.

                  (a)      The Required Lenders hereby consent to the Buckle
Down Acquisition on the terms set forth in the Buckle Down Purchase Agreement.

                  (b)      The Borrower acknowledges and agrees that as a result
of the consent by the Required Lenders to the Buckle Down Acquisition, neither
the Borrower nor any of its Subsidiaries may make any other acquisitions or
investments under the definition of the Permitted Acquisitions or otherwise
under the Credit Agreement in the twelve month period following the consummation
of the Buckle Down Acquisition, except (1) with the prior written consent of the
Required Lenders or (2) to the extent permitted under clause (c) of the
definition of "Permitted Acquisitions".

         2.       AMENDMENTS.

                  (a)      Section 1 of the Credit Agreement is hereby amended
by adding in appropriate alphabetical order, the following defined terms:

                           "Acquisition EBITDA": for any period, Acquisition Net
                  Income for such period plus, without duplication and to the
                  extent reflected as a charge in the statement of such
                  Acquisition Net Income for such period, the sum of (a) income
                  tax expense or provision for income taxes, (b) interest
                  expense, amortization or write-off of financing costs, debt
                  discount and debt issuance costs and commissions, and
                  discounts and other fees and charges associated with
                  Indebtedness, (c) depreciation and amortization expense, (d)
                  amortization of intangibles (including, but not limited to,
                  goodwill and product development expenses) and organization
                  costs, and (e) any extraordinary charges or losses determined
                  in accordance with GAAP.

                           "Acquisition Net Income": for any period, the net
                  income (or loss) of the assets or Person to be acquired in an
                  Acquisition.

                  (b)      Clause (b) of the definition of "Permitted
Acquisitions" is hereby amended by adding the following proviso at the end of
such clause:

                                       2
<PAGE>

                           "and (iv) a statement of the Acquisition EBITDA for
                  the assets or Person to be acquired in an Acquisition for the
                  preceding twelve month period together with reasonably
                  detailed supporting calculations thereof;"

                  (c)      Clause (c) of the definition of "Permitted
Acquisitions" is hereby amended by adding the following proviso at the end of
such clause:

                           "and provided further that, (A) if the consideration
                  for an Acquisition is comprised solely of the proceeds
                  received by Holdco from the issuance of the Initial Notes
                  which have been or will be contributed by Holdco to the
                  Borrower as equity and (B) if the assets or Person which are
                  the subject of the Acquisition have had a positive Acquisition
                  EBITDA for the immediately preceding twelve month period, the
                  Borrower or its Subsidiaries may make the applicable
                  Acquisition without regard to the Consideration Cap."

         3.       CONDITIONS TO EFFECTIVENESS.

                  (a)      This Amendment shall be effective upon the
satisfaction of the following conditions:

                           (i)      the Administrative Agent shall have received
         this Amendment executed by a duly authorized signatories of the
         Borrower and each of the Guarantors and by each of the Required
         Lenders;

                           (ii)     the Administrative Agent shall have received
         a fully executed copy of the Buckle Down Purchase Agreement and the
         documents delivered pursuant thereto, each certified to be true and
         complete by an authorized signatory of the Borrower;

                           (iii)    the Administrative Agent shall have
         received, with respect to the Property to be acquired pursuant to the
         Buckle Down Acquisition, such amendments, agreements and other items as
         may be required under Section 6.10 of the Credit Agreement, and

                           (iv)     the Administrative Agent shall have received
         a certificate from an authorized signatory of the Borrower (1)
         demonstrating that, with the exception of the amount of Buckle Down
         Consideration, the Buckle Down Acquisition complies with the
         requirements of the definition of Permitted Acquisition in the Credit
         Agreement, (2) setting forth, with reasonably detailed supporting
         calculations, the amount of each component of, and the aggregate amount
         of, the Buckle Down Consideration, (3) certifying that the preferred
         stock which Holdings is required to issue under the Buckle Down
         Purchase Agreement

                                       3
<PAGE>

         is not "Disqualified Stock", and (4) demonstrating, to the satisfaction
         of the Administrative Agent, that the Property to be acquired by the
         Buyer pursuant to the Buckle Down Purchase Agreement will be acquired
         free and clear of all Liens.

                  (b)      The date on which all of the conditions set forth in
Section 3(a) are satisfied is referred to as the "Amendment No. 2 Effective
Date."

         4.       MISCELLANEOUS

                  (a)      The Borrower hereby:

                           (i)      acknowledges and reaffirms its obligations
         under, and confirms the validity and enforceability of, the Credit
         Agreement and the other Loan Documents;

                           (ii)     represents and warrants that there exists no
         Default or Event of Default and no Default or Event of Default will
         result from the consummation of the transactions described in this
         Amendment; and

                           (iii)    represents and warrants that the
         representations and warranties contained in the Credit Agreement (other
         than the representations and warranties made as of a specific date) are
         true and correct in all material respects on and as of the date hereof.

                  (b)      Each of the Guarantors, by signing this Amendment,
hereby:

                           (i)      acknowledges and consents to the execution
         of this Amendment; and

                           (ii)     acknowledges and reaffirms its obligations
         under, and confirms the validity and enforceability of, the Guarantee
         and Collateral Agreement and the other Loan Documents to which it is a
         party.

                  (c)      This Amendment may be executed in any number of
counterparts and by facsimile, each of which shall be an original and all of
which shall constitute one agreement. It shall not be necessary in making proof
of this Amendment to produce or account for more than one counterpart signed by
the party to be charged.

                  (d)      This Amendment is being delivered in and is intended
to be performed in the State of New York and shall be construed and enforceable
in accordance with, and be governed by, the internal laws of the State of New
York without regard to principles of conflict of laws.

                                       4
<PAGE>

                  (e)      The Borrower agrees to pay the reasonable fees and
expenses of the Administrative Agent's counsel in connection with this
Amendment.

[THE REMAINDER OF THIS PAGE HAS BEEN INTENTIONALLY LEFT BLANK]

                                       5
<PAGE>

                          HAIGHTS CROSS AMENDMENT NO. 2

         IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
duly executed and delivered by their proper and duly authorized officers as of
the day and year first above written.

                                       BORROWER:

                                       HAIGHTS CROSS OPERATING COMPANY

                                       By: /s/ Paul J. Crecca
                                          ----------------------------------
                                           Name: Paul J. Crecca
                                                 ---------------------------
                                           Title: EVP & CFO
                                                  --------------------------

<PAGE>

                          HAIGHTS CROSS AMENDMENT NO. 2

                                       GUARANTORS:

                                       HAIGHTS CROSS COMMUNICATIONS, INC.

                                       By: /s/ Paul J. Crecca
                                           ---------------------------------
                                           Name: Paul J. Crecca
                                                ----------------------------
                                           Title: EVP & CFO
                                                  --------------------------

                                       SUNDANCE/NEWBRIDGE
                                       EDUCATIONAL PUBLISHING, LLC

                                       By: /s/ Paul J. Crecca
                                           ---------------------------------
                                           Name: Paul J. Crecca
                                                 ---------------------------
                                           Title: VP
                                                 ---------------------------

                                       TRIUMPH LEARNING, LLC

                                       By: /s/ Paul J. Crecca
                                           ---------------------------------
                                           Name: Paul J. Crecca
                                                 ---------------------------
                                           Title: VP
                                                 ---------------------------

                                       RECORDED BOOKS, LLC

                                       By: /s/ Paul J. Crecca
                                           ---------------------------------
                                           Name: Paul J. Crecca
                                                 ---------------------------
                                           Title: VP
                                                 ---------------------------

                                       OAKSTONE PUBLISHING, LLC

                                       By: /s/ Paul J. Crecca
                                           ---------------------------------
                                           Name: Paul J. Crecca
                                                 ---------------------------
                                           Title: VP
                                                 ---------------------------

<PAGE>

                          HAIGHTS CROSS AMENDMENT NO. 2

                                       CHELSEA HOUSE PUBLISHERS, LLC

                                       By: /s/ Paul J. Crecca
                                           ---------------------------------
                                           Name: Paul J. Crecca
                                                 ---------------------------
                                           Title: VP
                                                  --------------------------

                                       THE CORIOLIS GROUP, LLC

                                       By: /s/ Paul J. Crecca
                                           ---------------------------------
                                           Name: Paul J. Crecca
                                                 ---------------------------
                                           Title: VP
                                                 ---------------------------

                                       W F HOWES LIMITED

                                       By: /s/ Paul J. Crecca
                                           ---------------------------------
                                           Name: Paul J. Crecca
                                                 ---------------------------
                                           Title: VP
                                                 ---------------------------

<PAGE>

                          HAIGHTS CROSS AMENDMENT NO. 2

                                       THE BANK OF NEW YORK,
                                       Individually and as Administrative Agent

                                       By: /s/ Steven J. Correll
                                           --------------------------------
                                           Name:  Steven J. Correll
                                           Title: Vice President

<PAGE>

                          HAIGHTS CROSS AMENDMENT NO. 2

                                       BEAR STEARNS CORPORATE LENDING, INC.,
                                       Individually and as Syndication Agent

                                       By: /s/ Keith C. Barnish
                                           --------------------------------
                                           Name:  Keith C. Barnish
                                           Title: Executive Vice President

<PAGE>

                          HAIGHTS CROSS AMENDMENT NO. 2

                                       CIT LENDING SERVICES CORPORATION

                                       By: /s/ Donald J. Oberg
                                           --------------------------------
                                           Name:  Donald J. Oberg
                                           Title: Vice President

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