Document:

THE
      TAKING OF THIS DOCUMENT OR ANY CERTIFIED COPY OF THIS DOCUMENT OR ANY DOCUMENT
      WHICH CONSTITUTES SUBSTITUTE DOCUMENTATION THEREOF, INCLUDING WRITTEN
      CONFIRMATIONS OR REFERENCES THERETO, INTO AUSTRIA AS WELL AS PRINTING OUT ANY
      E-MAIL COMMUNICATION WHICH REFERS TO THIS DOCUMENT IN AUSTRIA OR SENDING ANY
      E-MAIL COMMUNICATION CARRYING AN ELECTRONIC OR DIGITAL SIGNATURE WHICH REFERS
      TO
      THIS DOCUMENT TO AN AUSTRIAN ADDRESSEE MAY CAUSE THE IMPOSITION OF AUSTRIAN
      STAMP DUTY. ACCORDINGLY, KEEP THE ORIGINAL DOCUMENT AS WELL AS ALL CERTIFIED
      COPIES THEREOF AND WRITTEN AND SIGNED REFERENCES THERETO OUTSIDE OF AUSTRIA
      AND
      AVOID PRINTING OUT ANY E-MAIL COMMUNICATION WHICH REFERS TO THIS DOCUMENT IN
      AUSTRIA OR SENDING ANY E-MAIL COMMUNICATION CARRYING AN ELECTRONIC OR DIGITAL
      SIGNATURE WHICH REFERS TO THIS DOCUMENT TO AN AUSTRIAN
      ADDRESSEE.

     

    Austrian
      Gaming Industries GmbH

    (Lender)

    

    and

    

    Octavian
      International Limited 

    (Company)

    

    Loan
      Agreement

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    THE
      TAKING OF THIS DOCUMENT OR ANY CERTIFIED COPY OF THIS DOCUMENT OR ANY DOCUMENT
      WHICH CONSTITUTES SUBSTITUTE DOCUMENTATION THEREOF, INCLUDING WRITTEN
      CONFIRMATIONS OR REFERENCES THERETO, INTO AUSTRIA AS WELL AS PRINTING OUT ANY
      E-MAIL COMMUNICATION WHICH REFERS TO THIS DOCUMENT IN AUSTRIA OR SENDING ANY
      E-MAIL COMMUNICATION CARRYING AN ELECTRONIC OR DIGITAL SIGNATURE WHICH REFERS
      TO
      THIS DOCUMENT TO AN AUSTRIAN ADDRESSEE MAY CAUSE THE IMPOSITION OF AUSTRIAN
      STAMP DUTY. ACCORDINGLY, KEEP THE ORIGINAL DOCUMENT AS WELL AS ALL CERTIFIED
      COPIES THEREOF AND WRITTEN AND SIGNED REFERENCES THERETO OUTSIDE OF AUSTRIA
      AND
      AVOID PRINTING OUT ANY E-MAIL COMMUNICATION WHICH REFERS TO THIS DOCUMENT IN
      AUSTRIA OR SENDING ANY E-MAIL COMMUNICATION CARRYING AN ELECTRONIC OR DIGITAL
      SIGNATURE WHICH REFERS TO THIS DOCUMENT TO AN AUSTRIAN
      ADDRESSEE.

    

    Contents

     

    
      	
              1

            	
              Definitions

            	
              1

            
	 	 	 
	
              2

            	
              Loan
                and Drawdown

            	
              1

            
	 	 	 
	
              3

            	
              Interest

            	
              2

            
	 	 	 
	
              4

            	
              Repayments

            	
              2

            
	 	 	 
	
              5

            	
              Payments

            	
              2

            
	 	 	 
	
              6

            	
              Default

            	
              2

            
	 	 	 
	
              7

            	
              Security

            	
              3

            
	 	 	 
	
              8

            	
              Remedies
                and Waivers

            	
              3

            
	 	 	 
	
              9

            	
              Assignment

            	
              3

            
	 	 	 
	
              10

            	
              Place
                of Performance

            	
              3

            
	 	 	 
	
              11

            	
              Stamp
                Duties

            	
              4

            
	 	 	 
	
              12

            	
              Governing
                Law and Dispute Resolution

            	
              4

            
	 	 	 
	
              13

            	
              Notices

            	
              4

            
	 	 	 
	
              Execution
                page [Important Note: To be executed outside of Austria]

            	
              6

            
	 	 
	
              Schedule
                1

            	
              7

            
	 	 
	
              Schedule
                2

            	
              8

            
	 	 
	
              Schedule
                3

            	
              9

            

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    THE
      TAKING OF THIS DOCUMENT OR ANY CERTIFIED COPY OF THIS DOCUMENT OR ANY DOCUMENT
      WHICH CONSTITUTES SUBSTITUTE DOCUMENTATION THEREOF, INCLUDING WRITTEN
      CONFIRMATIONS OR REFERENCES THERETO, INTO AUSTRIA AS WELL AS PRINTING OUT ANY
      E-MAIL COMMUNICATION WHICH REFERS TO THIS DOCUMENT IN AUSTRIA OR SENDING ANY
      E-MAIL COMMUNICATION CARRYING AN ELECTRONIC OR DIGITAL SIGNATURE WHICH REFERS
      TO
      THIS DOCUMENT TO AN AUSTRIAN ADDRESSEE MAY CAUSE THE IMPOSITION OF AUSTRIAN
      STAMP DUTY. ACCORDINGLY, KEEP THE ORIGINAL DOCUMENT AS WELL AS ALL CERTIFIED
      COPIES THEREOF AND WRITTEN AND SIGNED REFERENCES THERETO OUTSIDE OF AUSTRIA
      AND
      AVOID PRINTING OUT ANY E-MAIL COMMUNICATION WHICH REFERS TO THIS DOCUMENT IN
      AUSTRIA OR SENDING ANY E-MAIL COMMUNICATION CARRYING AN ELECTRONIC OR DIGITAL
      SIGNATURE WHICH REFERS TO THIS DOCUMENT TO AN AUSTRIAN
      ADDRESSEE.

     

    Loan
      Agreement 

     

    Dated
      31 August 2008

     

    Between

     

    
      
        
          	(1)	
                  Austrian
                    Gaming Industries GmbH of
                    Wiener Strasse 158, A-2352 Gumpoldskirchen,
                    Austria, FN 109445 z (Lender);
                    and

                

        

      

    

     

    
      	
              (2)

            	
              Octavian
                International Limited
                registered in England and Wales with number 04185988 of Bury House,
                1-3
                Bury Street, Guildford (Company).

            

    

     

    It
      is agreed as follows:

     

    
      	
              1

            	
              Definitions 

            

    

     

    
      	
              1.1

            	
              In
                this Agreement, the following definitions shall
                apply:

            

    

     

    Business
      Day means
      any
      day on which the banks in Vienna are generally open for business; 

     

    Escrow
      Agent means
      NCC
      Escrow International Limited, escrow agents with offices in Manchester,
      England;

     

    Encumbrance
      means
      any
      mortgage, charge, pledge, lien or any other security interest;

     

    Event
      of Default has
      the
      meaning given in clause 6;

     

    IP
      Rights has
      the
      meaning set out in the Transfer Agreement

     

    Loan
      has
      the
      meaning given in clause 2.1.

     

    Materials
      has the
      meaning set out in the Transfer Agreement;

     

    Products
      has the
      meaning set out in the Transfer Agreement; and

     

    Transfer
      Agreement
      means
      the agreement relating to the rights of the Lender in relation to the Products
      and Materials upon the occurrence of an Event of Default and as set out in
      Schedule
      1
      to this
      Agreement.

     

    
      	
              2

            	
              Loan
                and Drawdown

            

    

     

    
      	
              2.1

            	
              Subject
                to clause 2.2,
                the Lender agrees to convert a sum of €8,000,000 of outstanding
                trading debt owed by the Company to the Lender into a loan of €8,000,000
                made on the terms set out in this Agreement (the "Loan").

            

    

     

    
      	
              2.2

            	
              The
                Loan shall be conditional upon due execution of the Transfer Agreement
                and
                deposit of the Materials with the Escrow Agent as set forth under
                the
                Transfer Agreement. The conversion of the trading debt owed by the
                Company
                into the Loan shall be effective upon (i) receipt by the Lender of a
                drawdown notice by the Company in the form attached hereto as
                Schedule 3 and (ii) due execution of the Transfer Agreement and
                deposit of the Materials with the Escrow Agent, whichever is the
                later.
                Effective conversion of the trading debt shall be deemed to constitute
                disbursement (Zuzählung)
                of the Loan.

            

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      	
              3

            	
              Interest

            

    

     

    
      	
              3.1

            	
              Interest
                shall accrue daily on the proportion of the Loan outstanding from
                time to
                time in accordance with clause 3.2, from the date of this Agreement
                until
                the Loan is repaid in full.

            

    

     

    
      	
              3.2

            	
              Interest
                shall be calculated annually at a rate of 3 months USD-Libor as displayed
                for the relevant currency and for the relevant period on the appropriate
                page of the Reuters screen plus 4 per cent on the principal amount
                of the
                Loan (subject to a maximum cap on the interest rate of 8 per cent)
                and to
                be paid in accordance with clause 4.

            

    

     

    
      	
              4

            	
              Repayments

            

    

     

    
      	
              4.1

            	
              The
                Loan shall be repayable by the Company in monthly instalments as
                set out
                in Schedule 2 or as agreed from time to time between the Company
                and the
                Lender and which shall be paid in accordance with clause 4.2.

            

    

     

    
      	
              4.2

            	
              Subject
                to clause 6
                the Company will pay the instalments set out at clause 4.1
                above together with all accrued but unpaid interest monthly in arrears
                commencing on the last Business Day of the month of this Agreement
                and on
                the last Business Day of each successive month thereafter until repayment
                in full has been made. Payment shall be made subject to
                clause 10
                to
                an account notified in writing by the Lender to the
                Company.

            

    

     

    
      	
              4.3

            	
              The
                Company may, by giving the Lender prior written notice, prepay the
                Loan
                and any accrued but unpaid interest at any time in whole or in
                part.

            

    

     

    
      	
              5

            	
              Payments

            

    

     

    Unless
      required by law and unless the Company and the Lender agree otherwise,
      all
      payments
      made by the Company hereunder shall be made free and clear of and without any
      deduction for or on account of any tax, set-off or counterclaim.

     

    
      	
              6

            	
              Default

            

    

     

    If,
      for
      any reason whatsoever, any of the following events (each an "Event
      of Default")
      occurs:

     

    
      	
              6.1.1

            	
              the
                Company fails to pay when due any sum payable under this Agreement
                and
                such failure is not rectified within 30 days of the due date for
                such
                payment; or

            

    

     

    
      	
              6.1.2

            	
              steps
                are taken for the winding-up or dissolution of the Company, the Company
                becomes insolvent or is deemed unable to pay its debts within the
                meaning
                of Section 123 of the Insolvency Act 1986; steps are taken by any
                person
                to appoint an administrative or other receiver of the Company or
                any of
                its property or assets; or steps are taken towards an application
                for an
                administration order in relation to the Company;
                or

            

    

     

    
      	
              6.1.3

            	
              it
                becomes impossible or unlawful, in the reasonable opinion of the
                Lender,
                to fulfil any of the obligations contained in this Agreement or for
                the
                Lender to exercise any of the rights vested in it under this
                Agreement,

            

    

     

    then
      the
      Lender (i) by notice in writing to the Company, may terminate the
      obligations of the Lender under this Agreement and/or may declare the
      outstanding amount of the Loan and all accrued but unpaid interest immediately
      due and payable, at which time it shall become immediately due and payable;
      and
      (ii) may exercise its rights under the Transfer Agreement.

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    
      	
              7

            	
              Security

            

    

     

    
      	
              7.1

            	
              As
                security for the payment of the Loan pursuant to this Agreement,
                the
                Company undertakes simultaneously with execution of this Agreement
                and no
                later than upon submitting the drawdown notice pursuant to
                clause 2.2,
                to:

            

    

     

    
      	 	
              (a)

            	
              enter
                into the Transfer Agreement and comply with all obligations set out
                therein; and

            

    

     

    
      	 	
              (b)

            	
              enter
                into an agreement with an Austrian notary public acting as escrow
                agent
                appointed by the Lender for the deposit of materials relating to
                the
                Products in the form annexed to this
                Agreement.

            

    

     

    
      	
              7.2

            	
              The
                Company undertakes that it shall not, from the date of this Agreement
                until repayment of the Loan (and all interest accrued thereon) in
                full in
                accordance with the terms of this
                Agreement:

            

    

     

    
      	 	
              (a)

            	
              assign
                ownership of any of the IP Rights in the Products or Materials to
                any
                person other than the Lender;

            

    

     

    
      	 	
              (b)

            	
              grant
                any licence or sub-licence of any IP Rights in the Products or Materials
                to any person other than in the ordinary course of business or with
                the
                prior written consent of the Lender;
                or

            

    

     

    
      	 	
              (c)

            	
              create
                or permit to subsist any Encumbrance over the IP Rights in the Products
                or
                Materials other than pursuant to this Agreement and the Transfer
                Agreement
                or otherwise to the Lender.

            

    

     

    
      	
              8

            	
              Remedies
                and Waivers

            

    

     

    No
      failure to exercise, or any delay in exercising, any right or remedy hereunder
      shall operate as a waiver thereof, nor shall any single or partial exercise
      of
      any right or remedy prevent any further exercise thereof or the exercise of
      any
      other right or remedy. The rights and remedies herein provided are cumulative
      and not exclusive of any rights or remedies provided by law.

     

    
      	
              9

            	
              Assignment

            

    

     

    The
      Lender (but not the Company) may assign any of its rights under this Agreement
      to any person.

     

    
      	
              10

            	
              Place
                of Performance

            

    

     

    The
      Parties agree that that the exclusive place of performance (Erfüllungsort)
      for all
      rights and obligations under this Agreement shall in any case be a place outside
      the Republic of Austria, which especially means that all payment of amounts
      under this Agreement shall be made from and to, respectively, a bank account
      outside of the Republic of Austria. It is expressly agreed between the Parties
      hereto that any performance within the Republic of Austria will not establish
      Austria as the place of performance and shall be deemed not effective with
      respect to any Party hereto. Further, the Parties agree that the fulfilment
      of
      any contractual obligation under this Agreement within Austria does not result
      in a discharge of debt.

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    
      	
              11

            	
              Stamp
                Duties

            

    

     

    All
      stamp
      duties (Rechtsgeschäftsgebühren)
      arising
      out of or in connection with this Agreement, if any, shall be solely borne
      and
      paid by the Company. The Company shall indemnify and hold AGI and its advisers
      harmless from and against any stamp duties payable by AGI or any of its
      advisers.

     

    
      	
              12

            	
              Governing
                Law and Dispute Resolution

            

    

     

    This
      Agreement shall be governed by and construed in accordance with Austrian law,
      with the exception of (i) the UN Sales Convention and (ii) the conflict of
      law
      rules of Austrian private international law.

     

    Any
      and
      all disputes arising out of or in connection with this Agreement, including,
      without limitation, a dispute as to the conclusion, validity or existence of
      this Agreement, shall be finally and exclusively resolved and settled under
      the
      Rules of Arbitration and Conciliation of the International Arbitral Centre
      of
      the Economic Chamber Austria in Vienna, Austria, as amended from time to time
      (the "Vienna
      Rules"),
      by
      three arbitrators appointed in accordance with these rules. The language of
      the
      arbitration shall be English. The seat of the arbitration shall be Munich.
      Any
      award and/or final decision of the arbitrators shall include a decision on
      costs, including, without limitation, fees of counsel.
      Each of
      the Parties agrees not to resist the enforcement of any arbitration award
      obtained in connection with this Agreement other than as expressly permitted
      by
      the 1958 New York Convention on the Recognition and Enforcement of Foreign
      Arbitration Awards.

     

    Notwithstanding
      the foregoing, the Parties agree that, in addition to any and all other remedies
      that may be available under this Agreement, each Party shall be entitled to
      request injunctive relief or to initiate injunction proceedings at the
      (ordinary) courts of competent jurisdiction.

     

    
      	
              13

            	
              Notices

            

    

     

    Any
      notice(s) required or permitted in connection with this Agreement or by law
      shall be given in writing by an authorized representative of the relevant Party
      and shall be delivered by hand, sent to the recipient by certified or registered
      mail or by international courier service (such as DHL, UPS or the like), or
      facsimile transmission (with the original to follow within 5 Business Days)
      to
      the address set forth below or an address to be provided by the relevant Party
      (but in any case an address outside of Austria) in writing and by certified
      or
      registered mail, postage prepaid, with reference to this Clause 13 to the
      other Party. Any Notice shall be effective upon receipt and shall be deemed
      to
      have been received:

     

    
      	 	
              §

            	
              at
                the time of delivery, if delivered by hand, registered or certified
                mail
                or courier;

            

    

     

    
      	 	
              §

            	
              at
                the time of transmission in legible form, if delivered by
                fax.

            

    

     

    If
      to
      the Borrower:

    Octavian
      International Limited

    Attn:
      Harmen Brenninkmeijer and Peter Moffitt

    Bury
      House

    1-3
      Bury
      Street

    Guildford
      Surrey GU2 4AW

    United
      Kingdom

    Fax:
      +44
      (0) 1483 543 540

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

    

    If
      to
      the Lender:

    Austrian
      Gaming Industries GmbH

    c/o
      AGI
      Hungária

    Emese
      Altusz

    Attn:
      Peter Stein

    9352
      Veszkény

    Hungary

    Fax:
      +36
      96 575 006

    

    The
      Parties agree that notwithstanding any other provisions of this Agreement,
      any
      communication to be made under or in connection with the Loan or this Agreement
      shall be made to an address outside the Republic of Austria. The foregoing
      sentence applies to any communication under or in connection made by fax,
      electronic message, including in particular emails or attachments thereto,
      or in
      any other written form relevant for purposes of the Austrian Stamp Duty Act
      (GebG).
      In
      particular, no such communication shall be sent, read, brought, transferred,
      saved or kept within the Republic of Austria at any time.

    

    As
      witness the hands of the duly authorised representatives of the parties hereto
      the day and year first before written.

    

    [Remainder
      of this page intentionally left blank. Execution page follows
      immediately.]

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

    Execution
      page [Important Note: To be executed outside of Austria]

     

    
      	
              Signed
                by
                [                         ]

            	 	
              )

            	 	 
	
              duly
                authorised for and

            	 	
              )

            	 	 
	
              on
                behalf of

            	 	
              )

            	 	 
	
              AUSTRIAN
                GAMING

            	 	
              )

            	 	 
	
              INDUSTRIES
                GmbH

            	 	
              )

            	
               

            	 
	 	 	 	 	 
	 	 	 	 	 
	
              Signed
                by
                [                         ]

            	 	
              )

            	 	 
	
              duly
                authorised for and

            	 	
              )

            	 	 
	
              on
                behalf of

            	 	
              )

            	 	 
	
              OCTAVIAN
                INTERNATIONAL

            	 	
              )

            	 	 
	
              LIMITED

            	 	
              )

            	
              
                /s/
                  Harmen Brenninkmeijer

              

            	 

    

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

    Schedule
      1

     

    Intellectual
      Property Agreement

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

    Schedule
      2

     

    Instalments

     

    48
      equal
      instalments of €166.666,67 to be paid on the last Business Day of each month
      commencing on 31.10.2008 and on the last Business Day of each successive month
      thereafter until repayment in full has been made.

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

     

    Schedule
      3 Drawdown Notice

     

    From: Octavian
      International Limited

     

    as
      Borrower

     

    To: Austrian
      Gaming Industries GmbH

     

    as
      Lender

     

    Date: [●]
      

     

    Loan
      Agreement dated [●] 2008 (Loan Agreement) between Octavian International
      Limited, as Borrower, and, Austrian Gaming Industries GmbH, as
      Lender.

     

    
      	
              1

            	
              We
                refer to the Loan Agreement. Terms defined in the Loan Agreement
                (whether
                directly or by incorporation therein) shall have the same respective
                meanings when used in this notice.

            

    

     

    
      	
              2

            	
              We
                hereby give notice in accordance with the provisions of the Loan
                Agreement
                that we wish an advance to be made as
                follows:

            

    

     

    
      	
              (a)

            	
              Amount:

            	
              €8,000,000
                

            
	 	 	 
	
              (b)

            	
              Currency:

            	
              Euros

            
	 	 	 
	
              (c)

            	
              Drawdown
                Date:

            	
              [●]

            

    

     

    
      	
              3

            	
              This
                notice is irrevocable.

            

    

     

    
      	
              4

            	
              The
                proceeds of this drawdown should be credited to such account as we
                shall
                separately designate to you.

            

    

     

    Yours
      faithfully

     

    
      	   
	
              for
                and on behalf of

            
	
              Octavian
                International Limited

            

    

    
      
        
        

      

      
        9Ziria
      Enterprises Limited

    

    and

    

    PacificNet
      Games International Corporation

    

    and

    

    PacificNet
      Inc.

    

    and

    

    Octavian
      International Limited

    

    and

    

    Emperor
      Holdings Limited

    

    Deed
      of Amendment 

    in
      respect of an acquisition agreement relating to the entire issued share capital
      of Emperor Holdings Limited

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    Contents

     

    
      	
              1

            	
              Definitions
                and interpretation

            	
              2

            
	 	 	 
	
              2

            	
              Consideration

            	
              2

            
	 	 	 
	
              3

            	
              Termination
                of the Agreement

            	
              3

            
	 	 	 
	
              4

            	
              Waiver

            	
              3

            
	 	 	 
	
              5

            	
              Acknowledgement
                of Receipt

            	
              3

            
	 	 	 
	
              6

            	
              Resignation
                of Harmen Brenninkmeijer

            	
              3

            
	 	 	 
	
              7

            	
              Ongoing
                relationship

            	
              4

            
	 	 	 
	
              8

            	
              Notices

            	
              5

            
	 	 	 
	
              9

            	
              Further
                assurance

            	
              7

            
	 	 	 
	
              10

            	
              Variation

            	
              7

            
	 	 	 
	
              11

            	
              Counterparts

            	
              7

            
	 	 	 
	
              12

            	
              Governing
                law and jurisdiction

            	
              7

            

    

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    Deed

     

    Dated  May
      14, 2008

     

    Between:

     

    
      	
              (1)                   

                    

            	
              Ziria
                Enterprises Limited a
                company incorporated in Cyprus whose office is at 319, 28th October
                Street, Kanika Business Ctr. 2nd Floor, Limassol, Cyprus (Ziria);
                and

            

    

     

    
      	(2)                   	
              PacificNet
                Games International Corporation,
                a
                company existing under the laws of the British Virgin Islands whose
                principal executive office is situated at Floor 23rd, Tower A, TimeCourt,
                No.6 Shuguangxili, Chaoyang District Beijing, China (PacificNet
                Games);
                and

            

    

     

    
      	(3)                   	
              PacificNet
                Inc.
                a
                company incorporated under the laws of the State of Delaware in the
                United
                States of America whose principal executive office is situate at
                Floor
                23rd, Tower A, TimeCourt, No.6 Shuguangxili, Chaoyang District Beijing,
                China (PACT);
                and

            

    

     

    
      	(4)                   	
              Octavian
                International Limited
                a
                limited liability company incorporated and existing under the laws
                of
                England and Wales (registered in England and Wales No. 04185988)
                whose
                registered office is at 51 Eastcheap, London EC3M 1JP (Company);
                and

            

    

     

    
      	(5)                   	
              Emperor
                Holdings Limited
                a
                limited liability company incorporated and existing under the laws
                of
                England and Wales (registered in England and Wales No. 01981508)
                whose
                registered office is at 3 Princess Way, Redhill, Surrey, RH1 1NP
                (Emperor),

            

    

     

    (each
      a
Party
      and
      together the Parties).

     

    Background

     

    
      	(A)                   	
              The
                Parties entered into a sale and purchase agreement on 7 December
                2007
                (Agreement)
                for the acquisition by PacificNet Games of the entire issued share
                capital
                of Emperor which owns the entire issued share capital of the Company
                (the
                Transaction).
                The Completion Date (as defined in the Agreement) was 22 January
                2008.

            

    

     

    
      	(B)                   	
              Neither
                PACT nor PacificNet Games have received a share certificate in respect
                of
                the shares in Emperor to be acquired pursuant to the Agreement and
                which
                is a right of PacificNet Games under the
                Agreement.

            

    

     

    
      	(C)                   	
              There
                has been no appointment of any director from either of PACT or PacificNet
                Games to the board of either of Emperor or the
                Company.

            

    

     

    
      	(D)                   	
              The
                Parties now consider that the Transaction contemplated by the Agreement
                will not benefit their respective businesses and consider that it
                would be
                beneficial to operate separately and
                independently.

            

    

     

    
      	(E)                   	
              The
                Parties have renegotiated the Agreement and Terms of the Transaction
                as
                set out in a letter of intent dated 28 March 2008 and in accordance
                with
                such letter now wish to set out the renegotiated terms in this
                Agreement.

            

    

     

    
      	(F)                   	
              It
                is acknowledged that this agreement is to be executed as a Deed on
                the
                basis that not all the Parties are receiving consideration for entry
                into
                it.

            

    

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    It
      is agreed as follows:

     

    
      	1                  
                	
              Definitions
                and interpretation

            

    

     

    
      	1.1                   	
              In
                this Deed, unless the context otherwise
                requires:

            

    

     

    
      	1.1.1                	
              words
                in the singular include the plural and vice versa and words importing
                any
                gender include every gender;

            

    

     

    
      	1.1.2                	
              references
                to persons include individuals, firms, partnerships, limited liability
                partnerships, companies, corporations, unincorporated associations,
                governments, authorities, agencies and trusts (in each case, whether
                or
                not having separate legal
                personality);

            

    

     

    
      	1.1.3                
              	
              any
                phrase introduced by the terms including, include, in particular
                or any
                similar expression shall be construed as illustrative and shall not
                limit
                the sense of the words preceding those
                terms;

            

    

     

    
      	1.1.4                
                	
              the
                table of contents and clause headings are included for ease of reference
                only and shall not affect the interpretation of this Agreement;
                and

            

    

     

    
      	1.1.5                
                	
              the
                Background forms part of this Deed and shall have effect as if set
                out in
                full in the body of this Deed and any reference to this Deed includes
                the
                Background.

            

    

     

    
      	
              1.2                   

            	
              In
                this Deed:

            

    

     

    
      	1.2.1                	
              Closing
                means the closing by Octavian of a transaction pursuant to which
                it raises
                funds from external investors;

            

    

     

    
      	1.2.2                	
              Emperor
                Shares
                means the entire issued share capital of Emperor (as transferred
                to PACT
                pursuant to the Agreement);

            

    

     

    
      	1.2.3                	
              Octavian
                Separation Conditions
                means the:

            

    

     

    
      	(a)  	
              the
                execution of any share transfer document by PACT required to transfer
                the
                Emperor Shares back to Ziria (it being acknowledged that the share
                certificates for such shares remain in Cyprus and have not been delivered
                to PACT);

            

    

     

    
      	1.2.4                	
              PACT
                Separation Conditions
                means the:

            

    

     

    
      	(a)  	
              delivery
                by the Company to PACT of the share certificates for the PACT Shares
                (or
                equivalent title documents) and the execution of any share transfer
                document; and

            

    

     

    
      	(b)  	
              completion
                of the resignation of Harmen Brenninkmeijer from the board of PACT;
                and

            

    

     

    
      	1.2.5                	
              PACT
                Shares
                means the shares in PACT issued to Ziria pursuant to the
                Agreement.

            

    

     

    
      	2                  
                	
              Consideration

            

    

     

    In
      consideration of Ziria returning to PacificNet Games the 1,200,000 shares in
      PACT issued pursuant to the Agreement (the Consideration
      Shares)
      each
      Party agrees that the Agreement shall be terminated in accordance with the
      terms
      of this Deed.

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    PART
      A - termination of Agreement and reversing transfer of shares in PACT and
      Octavian

     

    
      	3                   
               	
              Termination
                of the Agreement

            

    

     

    
      	3.1                   	
              Upon
                the execution of this Deed:

            

    

     

    
      	(a)  	
              the
                Agreement and the other rights and obligations of each Party as set
                out in
                the Agreement shall be terminated and cease to have effect save in
                respect
                of the provisions of Clauses 1 (Interpretation), 14 (Notices), 16
                (Settlement of Disputes) and 17 (Governing Law and Jurisdiction)
                which
                shall continue in full force and effect;
                and

            

    

     

    
      	(b)  	
              Ziria,
                Emperor and the Company shall cease to be part of the PACT group
                and shall
                operate separately and independently of PACT and PacificNet
                Games.

            

    

     

    
      	3.2                   	
              All
                Parties agree that there shall be no further obligation to make any
                payments under the Agreement, whether in the form of shares in PACT
                or
                otherwise including, without
                limitation:

            

    

     

    
      	(a)  	
              the
                30,000 shares in PACT to which Ziria was, immediately prior to the
                date of
                this Deed, entitled to receive (and had directed to be issued to
                Sterne
                Agee); and

            

    

     

    
      	(b)  	
              the
                further 1,100,000 shares in PACT which were to be issued to Ziria
                in
                accordance with clause 3.4.2 of the
                Agreement.

            

    

     

    
      	4                  
                	
              Waiver
                and separation conditions

            

    

     

    Octavian
      shall reimburse PACT for all the costs and expenses incurred by PACT related
      to
      acquisition of Octavian, including due diligence, assistance on annual audit,
      etc, up to a maximum of US$30,000. Payment shall be made upon the Company
      carrying out its proposed funding transaction.

     

    On
      satisfaction of the PACT Separation Conditions and the Octavian Separation
      Conditions (or their waiver by, respectively, PACT or Octavian), each Party
      agrees absolutely and unconditionally to waive any claims, rights or other
      actions it may have pursuant to the terms of the Agreement or as a result of
      termination of the Agreement pursuant to this Deed, as at the date of this
      Deed
      against any Party or other party (including, but not limited to the failure
      of
      Ziria to deliver to PACT or PacificNet Games, the shares in Emperor).

     

    
      	5                  
                	
              Acknowledgement
                of Receipt

            

    

     

    PacificNet
      Games acknowledges receipt of the certificates relating to the Consideration
      Shares and satisfied its obligations in relation to the return of the shares
      in
      PACT pursuant to clause
1.1.

     

    
      	6                  
                	
              Resignation
                of Harmen Brenninkmeijer

            

    

     

    Ziria,
      Emperor and the Company agree to procure that Harmen Brenninkmeijer will,
      promptly after the date of this Deed, resign from the board of directors of
      PACT.

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    PART
      B - terms for ongoing relationship

     

    
      	7                  
                	
              Ongoing
                relationship
                - corporate matters

            

    

     

    
      	7.1                   	
              PACT
                and the Company agree to use all reasonable endeavours to sign the
                following agreements within 3 months of the date of this
                Deed:

            

    

     

    
      	(a)  	
              a
                non-exclusive distribution agreement and licence whereby PACT will
                be
                appointed as a distributor of the Company's products in Macau provided
                that, subject to the agreement of the terms of the licence, the only
                other
                distributor of the Company products shall be eBet Limited;
                and

            

    

     

    
      	(b)  	
              a
                joint venture agreement relating to future business development in
                Macau
                and, subject to agreement, other territories in
                Asia.

            

    

     

    
      	7.2                   	
              It
                is acknowledged that the Company is negotiating terms with investors,
                following completion of such negotiations the Company and PACT shall
                agree
                a document to effect the simultaneous completion of the following
                transactions on or before Closing:

            

    

     

    
      	(a)  	
              the
                Company shall issue to PACT or its nominee an amount of shares in
                the
                Company so that following such issue PACT or its nominee shall own
                an
                amount of share in the Company equal to 5 per cent (5%) of the issued
                share capital (Octavian shall, to the extent permitted to do so,
                advise
                PACT of the terms of the Closing (including by providing the proposed
                share ownership structure with new investor names, share number and
                ownership %); and

            

    

     

    
      	(b)  	
              PACT
                shall issue 500,000 newly issued PACT restricted shares (PACT
                Restricted Shares)
                credited as fully paid to the Company or its nominee.
                These PACT shares shall be subject to one year lock up and sale
                restriction: any share sale shall be communicated to PACT at least
                7 days
                prior to the sale including intended sales price, number of sale
                shares,
                buyer names, and PACT shall have a first right of refusal to arrange
                buyers to buy at the same terms as other buyers, and PACT shall be
                allowed
                to assist with the PACT share sale process including arranging the
                broker
                and account and PACT shall be entitled to share half (50%) of net
                gain
                (profit from price appreciation, ie. sales price - original issuance
                price
                on the date of issuance) with any partial sale of PACT shares.
                

            

    

     

    
      	7.3                   	
              For
                a period of 12 months from the date of this Deed (or such longer
                period as
                the Parties may both agree to), PACT shall have the option to subscribe
                for ordinary shares in the Company so to retain PACT’s 5% ownership in
                Octavian and not to be diluted on the following
                terms:

            

    

     

    
      	(a)  	
              The
                subscription price shall be equal to 85% of the subscription price
                last
                paid by external investors in the Company prior to the date at which
                PACT
                exercise this option but after the date of this
                Deed;

            

    

     

    
      	(b)  	
              PACT
                may exercise the option by notice in writing to the Company at any
                time
                within such 12 month period but may only exercise the option
                once;

            

    

     

    
      	(c)  	
              The
                option is for a maximum amount of shares in the Company equal to
                5% of the
                issued share capital of the Company on the date of receipt of notice
                from
                PACT exercising the option (and PACT may specify any amount between
                1% and
                5%); and

            

    

     

    
      	(d)  	
              The
                subscription price shall be paid in cash in full on the day of completion
                of the subscription, failing which the option will
                lapse.

            

    

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    
      	7.4                   	
              The
                status and conclusion of such negotiations shall not in any way affect
                the
                terms of this Deed or the termination of the Agreement and the rights
                and
                obligations under it.

            

    

     

    
      	8                      
              	
              Ongoing
                relationship - commercial
                matters

            

    

     

    
      	8.1                   	
              Product
                localisation /translation
                project

            

    

     

    The
      Parties acknowledge that to develop the Company's products in the future it
      will
      need to carry out product localisation and translation work and PACT has stated
      that it is willing to carry out this work on commercial terms to benefit both
      parties (and in the case of PACT, to benefit it both as a supplier providing
      a
      service on commercial terms and as a shareholder in the Company). Accordingly
      the Parties agree to discuss opportunities to work together in the future in
      this regard and will, where each Party deems it appropriate, actively seek
      to
      enter into commercial agreements, on terms to be agreed, for the provision
      by
      PACT to the Company of product localisation and translation
      services.

     

    Within
      the later of 60 days from the signing of this Agreement or upon receipt of
      funding, Octavian will pay US$200,000 to PACT for localization and language
      translation for Octavian’s products into Chinese language (including ACP,
      Symphony, Marverik, ExtraCash,...). The terms of this agreement will be documented
      in a definitive agreement. This will include ownership terms and payment terms
      (which will include US$100,000 down-payment, US$50,000 on half completion and
      US$50,000 on completion). PACT should have an equal opportunity to bid on any
      software development project within Octavian and its subsidiaries and investees.
      

     

    
      	8.2                   	
              Product
                Marketing project

            

    

     

    In
      relation to Macau, PACT will assist the Company in the marketing of the
      Company's products. The Company shall be responsible for up to US$50,000 of
      marketing expenses incurred by PACT within 3 months of the signing of this
      Agreement provided that no sum shall be payable by the Company unless both
      the
      actual amount and the reason for the expense was previously approved of in
      writing by a director of the Company with reference to this
      provision.

     

    
      	8.3                   	
              Sale
                of PACT gaming machines

            

    

     

    The
      Parties shall work together to actively maximise the sale of PACT gaming
      machines by the Company. In particular the Company will work with PACT to put
      together a sales plan, with a schedule forecasting sales for the first year
      (current target of US$2 million) and second year (current target of US$4
      million). Subject to the following sentence, Octavian shall be committed to
      the
      following sales revenue target on the sale of PACT’s products: First year sales
      commitment: US$2 million minimum sales revenue commitment (with US$4 million
      sales target); Second year sales commitment: US$4 million minimum sales revenue
      commitment (with US$6 million sales target) The Company shall use all reasonable
      endeavours to comply with the sales targets set out in the plan and PACT shall
      provide appropriate support to assist in the achievement of the targets in
      the
      sales plan.

     

    
      	8.4                   	
              Product
                co-development, co-marketing and distribution agreements for Asian
                markets: Macau, China, Taiwan, Philippines, Cambodia, Vietnam, Laos,
                Myanamar and Thailand

            

    

     

    The
      Parties undertake to each other to use all reasonable endeavours to agree terms
      for the above agreements within 60 days of the date of this Deed. In particular,
      the Parties shall use all reasonable endeavours to agree the terms of a
      non-exclusive distribution agreement within such period and, if the Company
      receives an offer from another party within such period on better terms than
      those offered by PACT, it shall not enter into an agreement with such other
      Party without first notifying PACT and inviting PACT to match those
      terms.

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    PART
      C - General

     

    
      	9                      
              	
              Warranties

            

    

     

    
      	9.1                   	
              Each
                Party represents, warrants and undertakes to the other that it has
                and
                will have full power and authority to enter into and perform this
                Deed
                which constitutes or when executed will constitute binding obligations
                on
                them
                in accordance with their respective
                terms

            

    

     

    
      	9.2                   	
              The
                Company warrants that it is an “accredited investor” as defined pursuant
                to Regulation D of the Securities Act of 1933, as amended. The Company
                acknowledges that the PACT Restricted Shares have not been registered
                and
                are “restricted securities.”

            

    

     

    
      	9.3                   	
              The
                Company undertakes that for so long as PACT holds not less than 5%
                of the
                issued share capital of Octavian, it shall comply with any reasonable
                request to provide PACT with any required management accounts or
                audited
                financial reports, if required by PACT’s management, audit committee,
                independent auditor, the SEC, NASDAQ or any respective governments.
                

            

    

     

    
      	9.4                   	
              The
                Company agrees to provide all required cooperation efforts, documentation,
                disclosure filings (including SEC 8K, 10K, 10Q), and financial reports
                in
                support of the completion of this Deed, if reasonably required by
                PACT.

            

    

     

    
      	10                    
              	
              Notices

            

    

     

    
      	10.1                 	
              Any
                notice required to be given under this Agreement shall be sufficiently
                given if delivered in person, forwarded by registered post or sent
                by
                overnight international couriers or facsimile transmission to the
                relevant
                party at its address, or fax number set out below (or such other
                address
                as the addressee has by five days prior written notice specified
                to the
                other parties):

            

    

     

    
      	10.1.1              	
              To
                PACT / PacificNet Games:

            

    

     

    Attn: Victor
      Tong

    President

    Floor
      23rd, Tower A, TimeCourt,

    No.6
      Shuguangxili

    Chaoyang
      District Beijing

    China

     

    
      	10.1.2             	
              To
                the Company/ZIRIA/Emperor:

            

    

     

    Attn: Mr.
      Harmen Brenninkmeijer

    Octavian
      International Limited

    Bury
      House

    1-3
      Bury
      Street

    Guildford

    Surrey
      GU2 4 AW

    United
      Kingdom

     

    With
      a
      copy to: 33 Kitiou Kyprianou, Limassol, Cyprus 

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

    
      	11                   	
              Further
                assurance

            

    

     

    Each
      of
      the Parties shall use its reasonable endeavours to do or procure to be done
      all
      such further acts and things and execute or procure the execution of all such
      other documents as may from time to time be required for the purpose of giving
      the full benefit of the provisions of this Agreement.

     

    
      	12                   	
              Variation

            

    

     

    No
      variation of this Agreement or any of the documents referred to in it shall
      be
      effective unless it is in writing and signed by or on behalf of each of the
      parties to this Agreement.

     

    
      	13                   	
              Counterparts

            

    

     

    This
      Deed
      may be executed in any number of counterparts each of which when executed shall
      be an original but all the counterparts shall together constitute one and the
      same instrument.

     

    
      	14                   	
              Governing
                law and jurisdiction

            

    

     

    
      	14.1                 	
              This
                Deed shall be governed by and construed in accordance with the laws
                of
                England.

            

    

     

    
      	14.2                 	
              Each
                party irrevocably agrees to submit to the exclusive jurisdiction
                of the
                courts of England and Wales over any claim or matter arising under
                or in
                connection with this Agreement.

            

    

     

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

     

     

    
      	
              Executed
                as
                a Deed
                by

              Ziria
                Enterprises Limited

              acting
                by its duly authorised representatives

            	
              )

              )

              )

              )

            	
              sign
                here:

               

               

              /s/
                Harmen Benninkmeijer

            
	 	 	
              Director

               

              print
                name: Harmen Brenninkmeijer

            
	 	 	
              sign
                here:

               

              /s/
                Harmen Benninkmeijer 

            
	 	 	
              Director
                / Secretary

               

              print
                name: Harmen Brenninkmeijer

            

    

    

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

    

     

     

    
      	
              Executed
                as
                a Deed
                by

              PacificNet
                Inc.
                acting by duly authorised representatives

            	
              )

              )

              )

              )

            	
              sign
                here:

               

               

              /s/
                Tony Tong

            
	 	 	
              Title:
                CEO

               

              print
                name: Tony Tong

            
	 	 	
              sign
                here:

               

              /s/
                Chen Ling Yun

            
	 	 	
              Title:

               

              print
                name: Chen Ling Yun 

            

    

    

     

    
      	
              Executed
                as
                a Deed
                by

              PacificNet
                Games International Corporation
                acting by duly authorised representatives

            	
              )

              )

              )

              )

            	
              sign
                here:

               

               

              /s/
                Tony Tong

            
	 	 	
              Title:
                CEO

               

              print
                name: Tony Tong

            
	 	 	
              sign
                here:

               

              /s/
                Chen Ling Yun

            
	 	 	
              Title:

               

              print
                name: Chen Ling Yun 

            

    

    

     

    
      	
              Executed
                as
                a Deed
                by

              Octavian
                International Limited

              acting
                by:

            	
              )

              )

              )

            	
              sign
                here:

               

              /s/
                Harmen Brenninkmeijer

            
	 	 	
              Director

               

              print
                name: Harmen Brenninkmeijer

            
	
              In
                the presence of:

              Witness
                signature:

            	 	
              Witness
                sign here:

               

              /s/
                Peter Moffitt

            
	
              Witness
                name:

            	 	
              print
                name: Peter Moffitt 

            
	
              Witness
                address:

            	 	
              Bury
                House

            
	 	 	
              1-3
                Bury St.

            
	 	 	
              Guildford
                GU2 4AW

            
	 	 	
              United
                Kingdom 

            
	 	 	    

	
              Witness
                occupation:

            	 	
              Company
                President 

            

    

    

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

     

     

    
      	
              Executed
                as
                a Deed
                by

              Emperor
                Holdings Limited

              acting
                by:

            	
              )

              )

              )

            	
              sign
                here:

               

              /s/
                Harmen Brenninkmeijer

            
	 	 	
              Director

               

              print
                name: Harmen Brenninkmeijer

            
	
              In
                the presence of:

              Witness
                signature:

            	 	
              Witness
                sign here:

               

              /s/
                Peter Moffitt

            
	
              Witness
                name:

            	 	
              print
                name: Peter Moffitt 

            
	
              Witness
                address:

            	 	
              Bury
                House

            
	 	 	
              1-3
                Bury St.

            
	 	 	
              Guildford
                GU2 4AW

            
	 	 	
              United
                Kingdom 

            
	 	 	    

	
              Witness
                occupation:

            	 	
              Company
                President 

            

    

    

    

    

    
      
        
        

      

      
        9

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