Document:

COMMERCIAL TENANCY AGREEMENT

PARTIES

Landlord:         Wedgetail Systems PTY LTD ACN  003356429
Tenant:           Competency Based Learning PTY LTD ACN 084 763780
Date:             Twelfth day of December 2000

THIS AGREEMENT COMPRISES THE REFERENCE SCHEDULE AND COMMERCIAL TENANCY AGREEMENT
CONDITIONS.

INSTRUCTIONS TO COMPLETE
Commercial Tenancy Agreement

     DO NOT USE THIS DOCUMENT

     o    FOR RESIDENTIAL TENANCIES
     o    FOR PREMISES COVERED BY THE RETAIL SHOP LEASES ACT
     o    WHERE THE INITIAL TERM EXCEEDS 3 YEARS
     o    WHERE REGISTRATION UNDER THE LAND TITLE ACT IS REQUIRED

     o    If including an option to renew,  the Tenant should be advised to seek
          legal advice about having the tenancy registered to protect its rights
          under the option.

     o    Where the initial term plus options  exceeds 10 years and the premises
          form part of the Landlord's title, the tenancy may require approval as
          a subdivision and legal advice should be sought.

     o    Unless amended,  this agreement provides for rent to be reviewed based
          on increases in the Consumer  Price Index.  It is not suitable for use
          where rent is to be reviewed to market or otherwise.

     o    The only outgoings  recoverable in this agreement are local government
          rates,   fire  services   levies,   insurance,   cleaning  and  garden
          maintenance.  Unless  amended,  this agreement is not suitable for use
          where additional outgoings are to be paid by the Tenant.

     o    The  Agreement  must be submitted  to the Office of State  Revenue for
          stamping within 30 days of signing.

     o    Reference Schedule

         Ensure that all items are completed.

        -------------------- ---------------------------------------------------
        Item 1:              Full name(s) of the owner(s) of the  property and
                             their  address.  If the Landlord is a company,
                             include ACN.  DO NOT use a business name.
        -------------------- ---------------------------------------------------
        Item 2:              Full name(s) of the tenant. If the Tenant is a
                             company include its ACN. DO NOT use a business
                             name.
        -------------------- ---------------------------------------------------
        Item 3:              The Premises must be clearly identified e.g.
                             "Suite 3, 45 John Street, Spring Hill" etc. If not
                             able to be identified by name, a sketch plan must
                             be attached to the Agreement and the address must
                             be included at Item 3.
        -------------------- ---------------------------------------------------
        Item 4:
        -------------------- ---------------------------------------------------
        Item 5:              Insert  the  period  of the  further  tenancy, e.g.
                             "6  months"  or "1  year" or "not applicable".
        -------------------- ---------------------------------------------------
        Item 6:
        -------------------- ---------------------------------------------------
        Item 7:              Insert the date on which the rent is to be adjusted
                             by the CPI or "not applicable".
        -------------------- ---------------------------------------------------
        Item 8:              The permitted use should be stated clearly and
                             concisely.
        -------------------- ---------------------------------------------------
        Item 9:              Insert the  percentage of outgoings the Tenant is
                             to pay, e.g.  "25%" or "100%" or "not applicable".
        -------------------- ---------------------------------------------------

<PAGE>

AGREEMENT       made (date)

PARTIES         The person named in Item 1 of the Reference Schedule("Landlord")
AND             The person named in Item 2 of the Reference Schedule ("Tenant")

--------------------------------------------------------------------------------
                               REFERENCE SCHEDULE

--------------- ------------------------- --------------------------------------
Item 1:         Landlord                  Wedgetail Systems PTY LTD
--------------- ------------------------- --------------------------------------
                Address:                  1/4 Olympic Circuit, Southport Q 4215
--------------- ------------------------- --------------------------------------
                Phone:                    0419 875040
--------------- ------------------------- --------------------------------------
                Fax:
--------------- ------------------------- --------------------------------------
                ABN. No:
--------------- ------------------------- --------------------------------------
                Email Address:
--------------- ------------------------- --------------------------------------

--------------- ------------------------- --------------------------------------
Item 2:         Tenant                    Competency Based Learning PTY LTD
--------------- ------------------------- --------------------------------------
                Address:                  P.O. Box 7030 Holland Park East Q 4121
--------------- ------------------------- --------------------------------------
                Phone:                    07 33496460
--------------- ------------------------- --------------------------------------
                Fax:
--------------- ------------------------- --------------------------------------
                ABN. No:
--------------- ------------------------- --------------------------------------
                Email Address:
--------------- ------------------------- --------------------------------------

--------------- ------------------------- --------------------------------------
Item 3:         Premises                  Units 6.3 & 6.5/62-64 Signato Drive,
                                          Oxenford Q 4210
                                          (annex a plan if available)
--------------- ------------------------- --------------------------------------
Item 4:         Term                      Three years commencing on 5th January,
                                          2001 and ending on 4th January, 2004
--------------- ------------------------- --------------------------------------

--------------- ------------------------- --------------------------------------
Item 5:         Option for Further Term   3 Years
--------------- ------------------------- --------------------------------------

--------------- ------------------------- --------------------------------------
Item 6:         Rent                      $1801.00 PLUS GST per month
--------------- ------------------------- --------------------------------------

--------------- ------------------------- --------------------------------------
Item 7:         Annual Rent Review Dates  4/1/2002,  4/1/2003,  4/1/2004
                                          with increases. 5% annually or CPI
                                          whichever is greater
--------------- ------------------------- --------------------------------------

--------------- ------------------------- --------------------------------------
Item 8:         Permitted Use             Office
--------------- ------------------------- --------------------------------------

--------------- ------------------------- --------------------------------------
Item 9:         Percentage of Outgoings   $570 plus GST per annum
--------------- ------------------------- --------------------------------------

--------------- ------------------------- --------------------------------------
Item 10:        Deposit                   $ 3,820.00 being 2 months rent payable
                                          as a bond
--------------- ------------------------- --------------------------------------

--------------- ------------------------- --------------------------------------
Item 11:        Landlord's Agent          Hobart Investments Pty Ltd T/A Rey
                                          White Southport ACN 009 985 959
--------------- ------------------------- --------------------------------------
                Address:                  P.O. Box 1247 Southport QLD 4215
--------------- ------------------------- --------------------------------------
                ABN. No.:
--------------- ------------------------- --------------------------------------
                Email address:
--------------- ------------------------- --------------------------------------

<PAGE>

SPECIAL CONDITIONS

     1. The Landlord  warrants  that prior to the 5th of January 2001 it will at
its expense do the following:

          a.   Provide and install 20 power points,  24 fluorescent  win 36 watt
               diffused light fittings,  2 safety switches, 3 telephone lines, 1
               fax line,  1 computer  line (wide  band),  earth  leakage lead to
               electrical supply;

          b.   Provide and install 1 x 8KW 290 air conditioning unit (refer to F
               & L air conditioning quote);

          c.   Paint internal walls "Off White";

          d.   Provide and install window locks

     2.  Notwithstanding  the provisions of clause 3 of the  commercial  tenancy
agreement conditions, the Landlord agrees that it will not require the Tenant to
pay rent or GST for the months commending 5th March 2001 and 5th April, 2001

     3. The Landlord  irrevocably  agrees that it will provide the tenant with a
tax invoice monthly during the term of the agreement for rental and outgoings as
required.

     4. The  Landlord  warrants  that it will  not  unreasonably  object  to the
Tenants reasonable commercial signage requirements on the external walls of Unit
6.3 and 6.5 hereby leased. The Tenant agrees that it will be liable for the cost
of said signage.

     5. The Landlord  further  warrants that it will provide CBD Leaming signage
on four car spaces shown as No's 11, 12, 20, 22

_____________________________                  _________________________________
LANDLORD                                       TENANT

<PAGE>

EXECUTED as an agreement`
EXECUTION BY LANDLORD

THE COMMON SEAL of                                                   AS LANDLORD
                   --------------------------------------------------

Was affixed in accordance with its articles of association in the presence of.

______________________________                  ________________________________
Director/Secretary                              Director

______________________________                  ________________________________
Name of Director/Secretary                      Name of Director (BLOCK LETTERS)
(BLOCK LETTERS)
                                       OR

SIGNED by_______________________________________________________________________
AS LANDLORD in the presence of:

______________________________                  ________________________________
Signature of Witness                            Address of Witness

______________________________
Name of Witness (BLOCK
LETTERS)

EXECUTION BY TENANT

THE COMMON SEAL OF                                                     AS TENANT
                   ---------------------------------------------------

Was affixed in accordance with its articles of association in the presence of:

______________________________                  ________________________________
Director/Secretary                              Director

______________________________                  ________________________________
Name of Director/Secretary                      Name of Director (BLOCK LETTERS)
(BLOCK LETTERS)
                                       OR

SIGNED BY_______________________________________________________________________
AS TENANT
In the presence of

______________________________                  ________________________________
Signature of Witness                            Address of Witness

______________________________
Name of Witness (BLOCK
LETTERS)

<PAGE>

     [sketch of floor plan]

<PAGE>

                     COMMERCIAL TENANCY AGREEMENT CONDITIONS

IT IS AGREED

1.       DEFINITIONS AND INTERPRETATION

     1.1  Terms  in  Reference  Schedule.  Where a term  used in this  Agreement
appears in bold type in the Reference Schedule,  that term has the meaning shown
opposite it in the Reference Schedule.

     1.2 Definitions. Unless the context otherwise requires:

          (1)  "Agreement"  means  this  document   including  any  Schedule  or
               Annexure to it.

          (2)  "Business Day" means a day that is not a Saturday,  Sunday or any
               other  day which is a public  holiday  or a bank  holiday  in the
               place where an act is to be performed or a payment is to be made;

          (3)  "Claim"  includes  any  claim or legal  action  and all costs and
               expenses incurred in connection with it;

          (4)  "Land" means the land on which the Premises are situated:

          (5)  "Landlord's Property" means any property owned by the Landlord in
               the Premises or on the Land and includes the property  identified
               in any inventory annexed to this Agreement;

          (6)  "Premises"  means  the  premises  described  in  Item  3  of  the
               Reference  Schedule and includes the  Landlord's  Property in the
               premises.

          (7)  "REIQ" meals Real Estate Institute of Queensland Ltd.

          (8)  "Services" means all utilities and services in the Premises:

          (9)  "Tenancy"  means the tenancy  between the Landlord and the Tenant
               created by this Agreement;

          (10) "Tenant's  Employees"  means  each  of  the  Tenant's  employees,
               contractors,  agents, customers,  subtenants, licensees or others
               (with or  without  invitation)  who may be on the  Premises,  the
               Building or the Land.

          (11) "Tenant's  Property"  includes all fixtures and other articles in
               the Premises which are not the Landlord's; and

          (12) "Term" means either a periodic  monthly  tenancy or the period of
               months or years described in Item 4(2) of the Reference Schedule,
               as applicable,  commencing on the date in Item 4 in the reference
               schedule.

     1.3 Interpretation.

          (1)  Reference to:

               (a)  One gender includes each other gender;

               (b)  The singular includes the plural and the plural includes the
                    singular;

               (c)  A person includes a body corporate;

               (d)  A party  includes  the  party's  executors,  administrators,
                    successors and permitted assigns; and

               (e)  A  statute,   regulation   or  provision  of  a  statute  or
                    regulation ("Statutory Provision") includes:

                    (i)  That Statutory  Provision as amended or re-enacted from
                         time to time; and

                    (ii) A  statute,   regulation   or   provision   enacted  in
                         replacement of that Statutory Provision.

          (2)  All monetary amounts are in Australian dollars,  unless otherwise
               stated.

          (3)  If a party consists of more than one person, this Agreement binds
               them jointly and each of them severally.

          (4)  Headings  are for  convenience  only and do not form part of this
               Agreement or affect its interpretation.

          (5)  A party  which is a trustee is bound both  personally  and in its
               capacity as a trustee.

          (6)  "Including" and similar expressions are words of limitation.

          (7)  Where a word or expression is given a particular  meaning,  other
               parts of speech and grammatical  forms of that word or expression
               have a corresponding meaning.

          (8)  If an act must be done on a specified day which is not a Business
               Day, the act must be done instead on the next Business Day.

          (9)  Where  this  Tenancy  permits  or  requires  the  Landlord  to do
               something, it may be done by a person authorized by the Landlord.

          (10) Section 105 and 107 of the  Property Law Act 1974 do not apply to
               this Tenancy.

     2. TERM AND HOLDING OVER

          2.1  Term. The Landlord lets the Premises to the Tenant for the Term

          2.2  Monthly  Tenancy.  If the Tenant continues to occupy the Premises
               after the Term with the Landlord's consent then:

               (1)  The Tenant does so as a monthly  tenant on the same basis as
                    at the last day of the Term; and

               (2)  Either party may terminate the monthly  tenancy by giving to
                    the other 1 month's notice expiring on any day.

3. RENT AND RENT REVIEWS

          3.1  Rent. The Tenant must:

               (1)  Pay the Rent by equal monthly installments in advance on the
                    first day of each month;

               (2)  Pay the first installment on the signing of this agreement;

               (3)  If   necessary,   pay  the  first   and  last   installments
                    apportioned on a daily basis; and

               (4)  Pay all installments as the Landlord directs.

     3.2 Definitions. In clause 3.3:

               (1)  "Index  Number" means the Consumer  Price Index (All Groups)
                    for  Brisbane   published  by  the   Australian   Bureau  of
                    Statistics.  If that Index no longer exists,  "Index Number"
                    means an index that the  president  of the REIQ decides best
                    reflects changes in the cost of living in Brisbane; and

               (2)  "Review Date" means a date stated in the Reference  Schedule
                    on which the rent is to be reviewed.

     3.3 Rent Review.

               (1)  Application.  This  clause 3.3  applies if Review  Dates are
                    inserted in item 7 of the Reference Schedule

               (2)  Review.  The Rent must be reviewed on each Review Date to an
                    amount represented by A where:

                               B
                           A = - x D
                               C

                                    Where B=the Index Number for the quarter
                             ending immediately before the relevant Review Date.

                                    Where C=the Index Number for the quarter 1
                             year before the quarter in B; and

                                    Where D=the Rent payable immediately before
                             the Review Date.

4.       OUTGOINGS

     4.1 Tenant to Pay Outgoings

          (1)  The Tenant must pay the Landlord the whole, or where a percentage
               is stated in Item 9 of the Reference  Schedule that percentage of
               the  Outgoings  for the  Premises,  or the  property of which the
               Premises is part as applicable;

          (2)  Outgoings  are  payable  to  the  Landlord   within  14  days  of
               production to the Tenant of a copy of the  Landlord's  assessment
               notice or account.

     4.2  Outgoings.  For  the  purposes  of this  clause  Outgoings  means  the
following  charges  levied or  expenses  payable in respect of the  Premises  or
property of which the Premises is part:

          (1)  Rates and other changes levied pursuant to a law (other than land
               tax);

          (2)  Insurance premiums payable by the Landlord;

          (3)  The cost of cleaning any areas  adjacent to the Premises that are
               used by the Tenant; and

          (4)  Maintaining any gardens on the Land.

5. USE OF THE PREMISES

     5.1 Permitted  Use. The Tenant must only use the Premises for the Permitted
Use.

     5.2 Restrictions on Use. The Tenant must not:

          (1)  Disturb the occupants of adjacent premises;

          (2)  Display any signs without the  Landlord's  consent which must not
               be unreasonably withheld;

          (3)  Overload any Services;

          (4)  Damage the Landlord's Property

          (5)  Alter the Premises, install any partitions or equipment or do any
               building work without the Landlord's prior consent;

          (6)  Do anything  that may  invalidate  the  Landlord's  insurance  or
               increase the Landlord's premiums; or

          (7)  Do anything illegal on the Premises.

6. MAINTENANCE AND REPAIR

     6.1 Repair. The Tenant must

          (1)  Keep the  Premises in good repair and  condition  except for fair
               wear  and  tear,  inevitable  accident  and  inherent  structural
               defects; and

          (2)  Fix any damage caused by the Tenant or the Tenant's Employees

     6.2 Cleaning and Maintenance. The Tenant must:

          (1)  Keep the Premises clean and tidy; and

          (2)  Keep the Tenant's Property clean and maintained in good order and
               condition.

     6.3 Landlord's Right to Inspect and Repair

          (1)  The Landlord may enter the  Premises for  inspection  or to carry
               out maintenance,  repairs or building work at any reasonable time
               after giving notice to the Tenant. In an emergency,  the Landlord
               may enter at any time without giving the Tenant notice.

          (2)  The Landlord may carry out any of the Tenant's obligations on the
               Tenant's behalf if the Tenant does not carry them out on time. If
               the Landlord does so, the Tenant must promptly pay the Landlord's
               costs.

7.     ASSIGNMENT AND SUBLETTING

     7.1 The  Tenant  must  obtain  the  Landlord's  consent  before  the Tenant
assigns, sublets or deals with its interest in the Premises.

     7.2 The Landlord must give its consent if:

          (1)  the  tenant  satisfies  the  Landlord  that  the  new  tenant  is
               financially  secure and has the ability to carry out the Tenant's
               obligations under this Tenancy;

          (2)  the new tenant signs any agreement  and gives any security  which
               the Landlord reasonably requires;

          (3)  the Tenant complies with any other reasonable requirements of the
               Landlord;

          (4)  the Tenant is not in breach of the Tenancy; and

          (5)  the Tenant  pays the  Landlord's  reasonable  costs of giving its
               consent.

8.     TENANT'S RELEASE AND INDEMNITY

     8.1 The Tenant  occupies and uses the Premises at its own risk.  The Tenant
also carries out building work in the Premises at its risk.

     8.2 The Tenant  releases the Landlord from and  indemnifies  it against all
Claims for damages, loss, injury or death:

          (1)  if it:

               (a)  occurs in the Premises;

               (b)  arises from the use of the Services in the Premises; or

               (c)  arises  from the  overflow  or  leakage  of  water  from the
                    Premises;

          except to the extent that it is caused by the Landlord's deliberate
          act or negligence; and

          (2)  If it arises from the  negligence or default of the Tenant or the
               Tenant's Employees, except to the extent that it is caused by the
               Landlord's deliberate act or negligence.

     8.3 The  Landlord  must do  everything  reasonable  to ensure the  Services
operate  efficiently  during normal working hours but the Landlord is not liable
if they do not.

     8.4 The Tenant  releases the  Landlord  from and  indemnifies  the Landlord
against any Claim or costs arising from anything the Landlord is permitted to do
under this Tenancy.

9.     DEFAULT AND TERMINATION

     9.1 Default. The Tenant defaults under this Tenancy if:

          (1)  the Rent or any money  payable  by the  Tenant  is unpaid  for 14
               days;

          (2)  the Tenant breaches any other term of this Tenancy;

          (3)  the Tenant assigns its property for the benefit of creditors; or

          (4)  the Tenant  becomes  an  externally-administered  body  corporate
               within the meaning of the Corporations Law.

     9.2 Forfeiture of Tenancy.  If the Tenant  defaults and does not remedy the
default when the  Landlord  requires it to do so, the Landlord may do any one or
more of the following:

          (1)  re-enter and take possession of the Premises;

          (2)  by notice to the Tenant, terminate this Tenancy;

          (3)  by notice to the  Tenant,  convert the  unexpired  portion of the
               Term into a tenancy from month to month;

          (4)  exercise any of its other legal rights;

          (5)  recover from the Tenant any loss  suffered by the Landlord due to
               the Tenant's default.

10. TERMINATION OF TERM

     10.1 Tenant's Obligations. At the end of the term the Tenant must:

          (1)  vacate the  Premises  and give them back to the  Landlord in good
               repair and condition;

          (2)  remove all the Tenant's Property from the Premises;

          (3)  repair any damage caused by removal of the Tenant's  Property and
               leave the Premises clean; and

          (4)  return  all keys,  security  passes  and cards  held by it or the
               Tenant's Employees.

     10.2 Failure to Remove Tenant's Property. If the Tenant does not remove the
Tenant's Property at the end of the Term, the Landlord may:

          (1)  remove the store the Tenant's  Property at the Tenant's  risk and
               expense; or

          (2)  treat the Tenant's Property as abandoned,  in which case title in
               the Tenant's Property passes to the Landlord who may deal with it
               as it thinks fit without being liable to account to the Tenant.

11.     DAMAGE AND DESTRUCTION

     11.1 Rent  Reduction.  If the Premises  are damaged or  destroyed  and as a
result the Tenant  cannot use or gain access to the Premises  then from the date
that the Tenant notifies the Landlord of the damage or destruction the Landlord:

          (1)  must reduce the Rent and any other money owing to the Landlord by
               a reasonable amount depending on the type and extent of damage or
               destruction; and

          (2)  cannot enforce clause 6.1 against the Tenant;  until the Premises
               are fir for use or accessible.

     11.2 Tenant May Terminate. The Tenant may terminate this Lease by notice to
the Landlord unless the Landlord:

          (1)  within 3 months of receiving the Tenant's  notice of termination,
               notifies  the  Tenant  that  the  Landlord  will   reinstate  the
               Premises; and

          (2)  carries out the reinstatement works within a reasonable time.

     11.3 Exceptions. Clauses 11.1 and 11.2 do not apply where:

          (1)  the damage or  destruction  was caused by or  contributed  to, or
               arises  from  any  willful  act of  the  Tenant  or the  Tenant's
               Employees; or

          (2)  an insurer  under any policy  effected  by the  Landlord  refuses
               indemnity or reduces the sum payable under the policy  because of
               any act or default of the Tenant or the Tenant's Employees.

     11.4 Landlord May  Terminate.  If the Landlord  considers the damage to the
Premises and renders it  impractical or undesirable to reinstate the Premises or
the  Building,  it may  terminate  this  Lease by giving the Tenant at least one
month's  notice  ending  on any day of the  month.  At the  end of that  month's
notice, this Lease ends.

     11.5 Dispute Resolution.

          (1)  Any  dispute  under  this  clause  11  must be  determined  by an
               independent  qualified  Valuer  appointed by the president of the
               REIQ at the request of either party.

          (2)  In making the determination, the Valuer acts as an expert and the
               determination is final and binding on both parties.

          (3)  The cost of the determination must be paid by the parties equally
               unless otherwise decided by the Valuer.

     11.6 Landlord Not Obliged to Reinstate.

          (1)  Nothing in this Lease  obliges  the  Landlord  to  reinstate  the
               Building or the Premises or the means of access to them.

          (2)  When  reinstating  the Building or the Premises,  the Landlord is
               entitled to change their design, fabric,  character or dimensions
               to comply with any law or lawful requirement.

     11.7 Antecedent  Rights.  Termination  under this clause 11 does not affect
either parties' accrued rights before termination.

12.     STAMP DUTY

     12.1 The  Tenant  must pay all  stamp  duty and  other  government  imposts
payable in connection  with this  Agreement and all other  documents and matters
referred to in this Agreement when due or earlier if requested in writing by the
Landlord.

13.     GOODS AND SERVICES TAX

     13.1 If a GST is  imposed  on any  supply  made to the  Tenant  under or in
accordance  wit this Tenancy,  the amount the Tenant must pay for that supply is
increased by the amount of that GST.

14.     OPTION FOR FURTHER TENANCY

     14.1 If a  further  term  has  been  inserted  in  item 5 of the  Reference
Schedule and the Tenant:

          (1)  wishes to lease the Premises for the further term;

          (2)  gives  notice to that effect to the  Landlord  not les than three
               months  before  and not more  than  six  months  before  the Term
               expires; and

          (3)  has not breached this Tenancy;

          the Landlord must grant a further tenancy ("Further Tenancy")to the
          Tenant on the same terms as this Tenancy except for the Rent.

     14.2 (1) The Rent for the  Further  Tenancy  will be an amount to be agreed
between the Landlord and Tenant and falling  agreement  three months  before the
Term  expires  the market rent for the  Premises  determined  by an  independent
qualified Valuer (acting as an expert) nominated by the president of the REIQ at
the request of either party.

          (2)  The Valuer's determination is final and binding on the parties.

          (3)  The  Valuer's  costs  must  be paid by the  Landlord  and  Tenant
               equally.  Either  party  may pay the  Valuer's  cost and  recover
               one-half of the amount paid from the other party.

     14.3 Before transferring any interest in the Land, the Landlord must obtain
a signed deed from the  transferee  containing  covenants in favor of the Tenant
that  the  transferee  will be bound by the  terms  of this  Lease  and will not
transfer  its  interest  in the Land  unless it obtains a similar  deed from its
transferee.

     14.4 This clause 14 will be omitted from the Further Tenancy.

15.     DEPOSIT AND COMMISSION

     15.1 The Tenant  must pay the  Deposit to the  Landlord's  Agent on signing
this Agreement.

     15.2 The Deposit must be applied  against the Rent payable by the Tenant on
the commencement of the Term.

     15.3 The Landlord  agrees to pay the Agent's  commission to the  Landlord's
Agent and authorizes the Agent to draw the commission on the commencement of the
Term from money received from the Tenant in payment of Rent.

16.     NOTICES

     16.1 Any notice  required  to be given to any person  under this  Agreement
must be:

          (1)  in writing; and

          (2)  given in  accordance  with  sections 347 of the "Property Law Act
               1974".DEED OF VARIATION OF LEASE

         THIS DEED of Variation of Lease is made this 1st day of July 2002.

BETWEEN:          Wedgetail  Systems Pty Ltd LTD ACN 088 468 820 a company duly
                  incorporated  in  accordance  with the  Corporations  Law and
                  having its registered office at 1/4 Olympic Circuit, Southport
                  in the State of Queensland  (hereinafter called "the lessor")
                  of the One Part

                  AND:  Competency Based Learning Pty Ltd LTD ACN 084 763 780 a
                  company duly incorporated in accordance with the Corporations
                  Law and having its registered  office at c/-62 Signato Drive,
                  Oxenford in the State of Queensland  (hereinafter called "the
                  lessee") of the Second Part.

WHEREAS:

         A. The lessor has, by lease  (which  lease is attached to this Deed and
marked with the letter "A") ("the  lease"),  leased to the lessee  Units 6.3 and
6.5, 62-64 Signato Drive, Oxenford in the State of Queensland.

         B. The parties  wish to vary the lease from the  effective  date and on
terms set out herein.

Now this Deed witnesseth as follows:

         1. From the effective date, the parties hereto agree that the reference
schedule to the lease will be as follows:

Item 1:           Landlord:       Wedgetail Systems Pty Ltd LTD
                  Address:        1/4 Olympic Circuit, Southport, Qld 4215

Item 2:           Tenant:         Competency Based Learning Pty Ltd LTD
                  Address:        P.O. Box 7030, Holland Park East, Qld 4121

Item 3:           Premises:       Units 6.3 and 6.4 and 6.5, 62-64 Signato Drive
                                  Oxenford, Qld 4210

Item 4:           Term:           (2) Three years commencing on 5th January 2001
                                  and ending on 4th January 2004  provided  that
                                  in respect of the  premises  described as Unit
                                  6.4  only,   this  lease   shall   govern  the
                                  occupancy   of  that   part  for  the   period
                                  commencing on 5 June 2002 and terminating on 4
                                  June 2003, subject to the option to renew this
                                  lease  in  respect  to Unit  6.4 as set out in
                                  Reference Schedule Item no. 5(2).

Item 5:           Option for      (1) 3 years
                  further term:   (2) The parties  agree that in respect of Unit
                                  6.4 only,  the  lessee is  hereby  granted  an
                                  separate  and  severable  option  to renew the
                                  lese for the period commencing 5 June 2003 and
                                  terminating  4 January  2004 and it is further
                                  agreed that in circumstances  where the lessee
                                  does not  exercise  the  option in  respect of
                                  Unit 6.4,  the lessor  shall pay to the lessee
                                  at the  expiration  of the term in  respect of
                                  Unit 6.4 and upon the lessee vacating Unit 6.4
                                  the sum of $800.00 by way of  contribution  to
                                  the lessee's costs  associated with the laying
                                  of  carpet  in the  said  unit  6.4,  provided
                                  further  that  the  carpet  installed  by  the
                                  lessee   shall  become  the  property  of  the
                                  lessor.

Item 6:           Rent:           $3,208.48 plus GST per month

Item 7:           Annual Rent     4/1/2002, 4/1/2003, 4/1/2004 with increases,
                  Review Dates:   5% annually or CPI whichever is greater.

Item 8:           Permitted Use:  Office

Item 9:           Percentage of   $570.00 plus GST per annum plus 1/14th of the
                  Outgoings:      operating expenses of the entire complex
                                  estimated at $1,197.00 per annum (exclusive of
                                  land tax)

Item 10:          Deposit:        Nil

Item 11:          Landlord's      Hobart Investments Pty Ltd LTD t/a Ray White
                  Agent:          Southport ACN 009 965 959

                  Address:        P.O. Box 1247, Southport Qld 4215

         2. On and from the effective  date,  the following  special  conditions
shall  apply in  respect of this  lease  insofar  as it  relates to the  demised
premises described as Unit 6.4/62-64 Signato Drive, Oxenford Qld 4210:

         "The lessor shall carry out the following works at the lessor's cost:"

              (a) Install one air  conditioning  system to be  maintained by the
lessee during the currency of the lease.

              (b) Install petition walls between the existing tenancy of 6.2 and
6.4 and the demised premises described in this lease:

              (c) Paint the demised area internally in color "off white";

              (d)  Install  six sets of  fluorescent  lights  internally  to the
demised premises;

              (e) Install a window in place of roller  door to existing  demised
premises.

         3. In this Deed the term  "effective  date"  shall  mean the 5th day of
September 2002.

         4. This deed shall,  pending the effective date,  entitle the lessee to
occupy  Unit 6.4 as  lessee  from the  lessor  rent free from 5 June 2002 on the
terms and conditions of the lease.

         IN WITNESS WHEREOF the parties have executed this agreement the day and
year first above written.

THE COMMON SEAL of  Wedgetail  Systems
Pty Ltd LTD ACN 088 468 820 was  hereunto
affixed this  ________  day of _____,  2002 in
accordance  with its Articles of Association and  ______________________________
in the presence of:                               Sole [Director]

_________________________
(Signature of secretary)

THE COMMON SEAL of  Competency  Based
Learning  Pty Ltd LTD ACN 084 763 780 was
hereunto affixed this 30 May 2002 in accordance
with its Articles of Association and              ______________________________
in the presence of:                               [Director]

_________________________
Signature of secretary

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00046-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00046-of-00352.parquet"}]]