Document:

EXHIBIT 10.12

Executed Sweden February 25, 2000

                           FINANCIAL WEBSITE AGREEMENT

                                     BETWEEN

                              SCANDINAVIA ONLINE AB

                                       AND

                          GLOBALNETFINANCIAL.COM, INC.

                       FINANCIAL WEBSITE AGREEMENT SWEDEN

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Executed Sweden February 25, 2000

<TABLE>
<CAPTION>
<S>      <C>                                                                                                 <C>
1.       DEFINITIONS..........................................................................................4

2.       SUPPLY AND PROMOTION OF CONTENT AND FINANCIAL TRANSACTIONAL SERVICES TO THE SOLS PORTAL..............9

3.       GRANT OF LICENCES...................................................................................12

4.       PAYMENT OF PRICE....................................................................................13

5.       SALE AND SPONSORSHIP OF ADVERTISING RIGHTS..........................................................15

6.       ADVERTISING REVENUE DISTRIBUTION....................................................................15

7.       OWNERSHIP...........................................................................................16

8.       EXCLUSIVITY.........................................................................................16

9.       WARRANTIES..........................................................................................18

10.      GLBN'S RESPONSIBILITY FOR THE CONTENT...............................................................19

11.      REVIEW PROCESS......................................................................................19

12.      TERM AND TERMINATION................................................................................19

13.      EXTENSION OF TERM...................................................................................20

14.      CONSEQUENCES OF TERMINATION.........................................................................20

15.      LIMITATIONS OF LIABILITY............................................................................21

16.      CONFIDENTIALITY.....................................................................................22

17.      NOTICES.............................................................................................24

18.      ASSIGNMENT AND CHANGE OF CONTROL....................................................................24

19.      FORCE MAJEURE.......................................................................................24

20.      GENERAL.............................................................................................25

21.      DISPUTE RESOLUTION..................................................................................26

22.      LAW AND JURISDICTION................................................................................26

23.      CONDITIONS TO CLOSING...............................................................................27

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Executed Sweden February 25, 2000

LIST OF SCHEDULES

A:       CO-BRANDING PROFILE

B:       CONTENT

C:       EXCLUSIONS LISTS

D:       GROUP DEFINITION

E:       WORDING ACCORDING TO DATA PROTECTING ACT

F:       SOLS TRAFFIC INFORMATION

G:       TRADE MARKS, SERVICE MARKS AND LOGOS

H:       FINANCIAL TRANSACTIONAL SERVICES

I:       ROLL OUT PLAN

J:       NUMERICAL EXAMPLES

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Executed Sweden February 25, 2000

THIS FINANCIAL WEBSITE AGREEMENT ("Agreement") is made the ... Day of February
2000.

BETWEEN:

(1)      SCANDINAVIA ONLINE AB, Registration no. 556551-9989,whose principal
         place of business is at 01 Stockholms lan, 80 Stockholm, Sweden
         ("SOLS");

(2)      GLOBALNETFINANCIAL.COM, INC. whose principal place of business is at
         7284 West Palmetto Park Road, Suite 210, Boca Raton, Florida. 33433
         ("GLBN").

WHEREAS:

(A)      SOLS owns and operates a portal in Sweden and wishes to provide, inter
         alia, Content and Financial Transactional Services to end-users.

(B)      GLBN owns, has the rights to, and/or may create certain Content and
         Financial Transactional Services which SOLS wishes to make available to
         its end users via the SOLS Portal in the respective countries.

(C)      GLBN has agreed to develop Finance Channels and provide Content and
         Financial Transactional Services to the SOLS Portal in accordance with
         the terms set forth in this Agreement.

(D)      It is within the contemplation of GLBN and SOLS that GLBN shall provide
         the Content and Financial Transactional Services to the Finance Channel
         presented on the SOLS Portal consistent with the Co-Branding Profile,
         and otherwise in accordance with the terms set forth in this Agreement.

NOW IT IS HEREBY AGREED as follows:

1.       DEFINITIONS

1.1      In this Agreement, including the Schedules, the following words and
         phrases shall have the following meanings:

         "ADVERTISING REVENUE"      25% of the aggregate amounts arising from
                                    the sale or licence of any Advertising
                                    Rights, net of any applicable Allowed
                                    Deductibles;

         "ADVERTISING RIGHTS"       the advertising, promotional,
                                    sponsorship, investor relations or similar
                                    rights sold or licensed with respect to
                                    Finance Channel pages in or accessible
                                    through the SOLS Portal, but not to include
                                    Financial Transactional Services;

         "AGREEMENT"                this Agreement and all Schedules;

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         "ALLOWED DEDUCTIBLES"      Value Added Tax, advertising
                                    agency discounts or commissions, the direct
                                    costs of delivering any advertising,
                                    promotions, sponsorships or e-commerce
                                    links;

         "BANNER ADVERTISEMENT"     a graphical element positioned on a web
                                    page, purchased by an advertiser;

         "CHANNEL"                  the online means to access, via one click of
                                    the mouse, an area or sub-area of SOLS
                                    Portal dedicated to a particular theme or
                                    topic, which is effected by a click-through
                                    icon located on, but not only limited to,
                                    the SOLS Portal' Global Navigation Bar;

         "CLOSING DATE"             The date when the Agreement is signed
                                    and upon which the Parties agree that this
                                    Agreement shall be binding on the Parties

         "CO-BRANDING PROFILE"      as further described in Schedule
                                    "A", except that the name of the Finance
                                    Channel and the URL stated in Schedule A are
                                    for illustration purposes only;

         "CONTENT"                  investment information including delayed
                                    share prices of traded shares, available
                                    from the Stock Exchanges in each country
                                    included in the Agreement (in addition to
                                    investment information from other
                                    countries), delayed portfolio monitoring,
                                    analysts commentary, research, financial
                                    news and views and share charts, and any
                                    additional information approved by SOLS, to
                                    be provided on the Finance Channel on the
                                    SOLS Portals by GLBN, as detailed in
                                    Schedule "B";

         "CPM"                      the advertising rate per thousand
                                    advertisements shown ;

         "EFFECTIVE DATE"           the date hereof;

         "EXCLUSION LIST"           the list set out in Schedule "C", prepared
                                    by GLBN and SOLS each individually for the
                                    non-circumvention of proprietary
                                    relationships;

         "EXCLUSIVITY"              as fully defined in Clause 8;

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         "FINANCE CHANNEL"          a GLBN developed and owned site provided to
                                    the SOLS Portal under this Agreement, which
                                    is accessible by one click from the SOLS
                                    Portal home pages through the SOLS Portal
                                    Global Navigation Bar, as detailed in
                                    Schedule "A", and one or more clicks from
                                    other SOLS pages, which contain a collection
                                    of vertically inter-related web pages all
                                    recognised by having relevance to the same
                                    context of Content and Financial
                                    Transactional Services;

         "FINANCIAL TRANSACTIONAL   revenue generated through a range of
          REVENUE"                  prospective Financial Transactional Services
                                    contemplated in this Agreement, but not
                                    arising under Advertising Revenue;

         "FINANCIAL TRANSACTIONAL   a range of varied financial services
         SERVICES"                  developed by GLBN (possibly in cooperation
                                    with third parties) contemplated for
                                    development under this Agreement including,
                                    but not limited to, on-line share trading
                                    and online insurance services in order to
                                    generate Financial Transactional Revenue as
                                    further defined in Clause 2.4, see Schedule
                                    H;

         "GLBN BRAND FEATURES"      all trademarks, service marks, logos and
                                    other distinctive brand features of GLBN, or
                                    which are licensed to GLBN for its use, that
                                    are used in connection with or relate to the
                                    Content and Financial Transactional Services
                                    and the brand names chosen by GLBN for it's
                                    Finance Channels, including (without
                                    limitation) the trademarks, service marks
                                    and logos described in Schedule G;

         "GROUP"                    shall have the meaning as in the Norwegian
                                    Company Act of 1997 ss. 1-3 (Attached as
                                    Schedule "D") as applied to the Parties from
                                    time to time;

         "INTELLECTUAL PROPERTY     all copyright and other intellectual
         RIGHTS"                    property rights, howsoever arising and in
                                    whatever media, whether or not registered,
                                    including (without limitation) patents,
                                    trademarks, service marks, trade names,
                                    registered design and any applications for
                                    the protection or

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Executed Sweden February 25, 2000

                                    registration of these rights and all
                                    renewals and extensions thereof throughout
                                    the world, strategies, business plans and
                                    marketing plans;

         "INTERNET"                 the collection of computer networks commonly
                                    known as the Internet;

         "LAUNCH DATE"              The launch of the Finance Channel on
                                    the SOLS Portal, which will take place on
                                    the 1st July 2000, unless the Agreement
                                    between SOLS and Avanza delays the launch,
                                    see Clause 8.4. The launch will in no case
                                    be later than 1st October 2000.

         "LAUNCH DATE AVERAGE"      For every two days that the
                                    Launch Date is delayed beyond the 1st of
                                    July 2000, the Launch Date Average will
                                    extend from 1st July 2000 with one day.

         "LINKS"                    online means which points directly to a web
                                    page on the internet which accesses a
                                    Channel, an area, or a sub-area of the
                                    Internet;

         "LOCK-UP PERIOD"           shall mean the period where any transfer,
                                    sale or distribution or pledging as security
                                    of the Common Shares is prohibited;

         "PARTIES"                  the Parties to this Agreement - GLBN and
                                    SOLS;

         "PIGGY-BACK AWARENESS      any and all SOLS
         CAMPAIGNS"                 advertising and marketing programs in
                                    relation to Finance on the SOLS Portal, in
                                    which promotion of the Finance Channels
                                    should be included;

         "PRICE"                    the sums payable by GLBN in accordance with
                                    Clause 4;

         "RECORDS"                  all books and records maintained by the
                                    Parties relating to revenue pursuant to
                                    Clause 6;

         "RENEWAL TERM"             the period of two years following the end of
                                    the Term;

         "REVIEW DATE 1"            the date 14 full calendar months from the
                                    Launch Date Average

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         "REVIEW DATE 2"            the date 20 full calendar months from the
                                    Launch Date Average

         "SOLS BRAND FEATURES"      all trademarks, service marks, logos and
                                    other distinctive brand features of SOLS
                                    that are used in connection with or relate
                                    to the SOLS Portal and the Content and
                                    Financial Transactional Services, including
                                    (without limitation) the trademarks, service
                                    marks, and logos described in Schedule G;

         "SOLS PORTALS"             the website(s) owned and operated by SOLS in
                                    Sweden which is located at:

                                    HTTP://WWW.PASSAGEN.SE;

                                    or any other domain addresses, URLs, or such
                                    additional websites, which may replace or
                                    co-exist with the SOLS Portals, where the
                                    nature thereof is substantially similar to
                                    the SOLS Portals or such site that may be
                                    substantially used by the existing SOLS user
                                    base;

         "TERM"                     the period of 24 months from the Launch Date
                                    Average.

         "TERMINATED/TERMINATION"   the unanticipated end of the Agreement , due
                                    to default or material breach under Clause
                                    12.2, by SOLS or GLBN. Notwithstanding the
                                    foregoing, a Termination cannot be invoked
                                    Launch Date under any circumstances;

         "TRAFFIC"                  page views, unique users, user sessions on
                                    the SOLS Portal, or any page views, unique
                                    users , user sessions directed to the
                                    Finance Channel on the SOLS Portal, measured
                                    by branch standards in Sweden;

         "URL"                      a uniform resource locator;

         "WWW"                      the World Wide Web, a system for accessing
                                    and viewing text, graphics, sound and other
                                    media via the Internet.

1.2      References to Clauses and Schedules in this Agreement are to Clauses of
         and Schedules to this Agreement.

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1.3      The headings to the Clauses of this Agreement are for ease of reference
         only and shall not affect the interpretation or construction thereof.

1.4      Reference to any statute or statutory provision includes a reference to
         that statute or statutory provision as from time to time amended,
         extended or re-enacted.

1.5      Words importing the singular shall include the plural and vice versa,
         words importing any gender shall include all other genders, words
         importing persons shall include bodies corporate, unincorporated
         associations and partnerships and vice versa.

1.6      References to the whole shall include the part and vice versa.

2.       SUPPLY AND PROMOTION OF CONTENT AND FINANCIAL TRANSACTIONAL SERVICES TO
         THE SOLS PORTAL

2.1      GLBN shall supply and be responsible for the Content, which shall be
         co-branded with SOLS in accordance with the Co-Branding Profile. The
         Content described in Schedule B shall be supplied by GLBN for use in
         the Finance Channel on the SOLS Portal in accordance with this
         Agreement, with effect from Launch Date. The Content shall include
         SOLS's Global Navigation Bar and search facilities as further described
         in Schedule "A". GLBN shall keep the Content regularly updated (as
         described in Schedule "B") so that the Content at all times during the
         Term and the Renewal Term is at a competitive level with other finance
         content providers in Sweden.

         2.1.1    It is contemplated in this Agreement that upon introduction of
                  the prospective Finance Channel, as described herein or which
                  may be developed prospectively, that the supply of Content and
                  service by GLBN to SOLS shall be co-branded in accordance with
                  the then current Co-Branding Profile, as described in Schedule
                  "A", with effect from the Launch Date. In relation to
                  Financial Transactional Services the Parties will aim to
                  co-brand in accordance with Co-Branding Profile subject to
                  both regulatory and third party approval.

2.2      GLBN shall be solely responsible for developing the Content, creating
         and operating the Finance Channel and for procuring all regulatory
         approvals necessary to make the Finance Channel available through the
         SOLS Portal. GLBN shall advise SOLS in advance of any regulatory
         approvals, licences or authorisations required by SOLS to make the
         Content and Financial Transactional Services available through the SOLS
         Portal. SOLS will assist GLBN to the extent that this is required by
         GLBN.

2.3      GLBN will not be entitled to supply it's Content to third parties who
         are competitors of the SOLS Portal in Sweden. GLBN will be able to
         supply up to 30% of it's Content on a syndicated basis to third parties
         that are not competitors to the SOLS Portal in Sweden subject to the
         joint approval of the Parties.

2.4      This Agreement does not address online share trading, or online
         brokering or any revenues generated from Financial Transactional
         Services. However, it is

                      FINANCIAL WEBSITE AGREEMENT - SWEDEN                    9

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         contemplated by GLBN that Financial Transactional Services shall be
         developed and adapted for the Finance Channel arising under this
         Agreement as soon as possible after the Launch Date, subject to
         regulatory approval. See Schedule H for a list of Financial
         Transactional Services which GLBN shall launch on the Finance Channel
         within 14 months of the Launch Date Average, subject to regulatory
         approval.

         2.4.1    In order for the Financial Transactional Services to be
                  developed and then made available on any Finance Channel on
                  the SOLS Portal contemplated under this Agreement, certain
                  business relationships shall be necessary, and may take the
                  form of partnerships or joint ventures with GLBN.

         2.4.2    If and when Financial Transactional Services are made
                  available on the Finance Channel on the SOLS Portal, SOLS
                  shall be entitled to Financial Transactional Revenues (in an
                  amount to be determined) received by the Finance Channel on
                  the SOLS Portal, and generated by Traffic on the SOLS Portal ,
                  but subject to Clause 2.4.3.

         2.4.3    SOLS shall be extended an opportunity to participate in an
                  equity position in business relationships in order to develop
                  Financial Transactional Services which are made available on
                  the Finance Channel on the SOLS Portals, as is contemplated in
                  Clause 2.4.1, on a pari passu basis, provided that SOLS
                  accepts a proposed agreement between GLBN and third party(ies)
                  within 10 business days of it being presented to SOLS. Such
                  participation shall supersede entitlement under Clause 2.4.2,
                  in such cases. SOLS shall not be extended an opportunity to
                  participate in the equity of any equity business relationships
                  between GLBN and any third-party existing prior to the
                  Effective Date, and in such a case, SOLS shall be entitled to
                  Financial Transactional Revenues. For the avoidance of doubt,
                  GLBN cannot use an existing Financial Transactional Service
                  business which already exists to bring online share trading
                  and online insurance services to Norway, Denmark or Sweden.

         2.4.4    Any agreement between the Parties addressing Financial
                  Transactional Services and Financial Transactional Revenues
                  (if not otherwise specified in Clause 4.2, below), shall be
                  subject to negotiations subsequent to this Agreement, and any
                  such agreement may appear as an addendum to this Agreement.

         2.4.5    Should GLBN be unable to develop the Financial Transactional
                  Services outlined in Schedule H within the time period
                  outlined in Schedule H, and this is not due to delay on the
                  part of SOLS nor regulatory approval, SOLS shall be entitled
                  to develop such the Financial Transactional Services, alone or
                  with a third party, so long as such Financial Transactional
                  Service is made available to SOLS' customers through the
                  Finance Channel. Web site real estate adequate for and
                  comparable to the space allocated to similar Financial
                  Transactional Services shall be available for such service on
                  the Finance Channel on terms equal to the going market rate
                  for such web site real estate.

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                  SOLS will collect the advertising revenue on such real estate,
                  keep the Advertising Revenue, the agency commission agreed in
                  Clause 6.1, and pay the balance to GLBN as described in Clause
                  6. Alternatively the Parties may agree that GLBN shall receive
                  a financial transactional service revenue.

2.5      During the Term and any Renewal Term, GLBN will provide such ongoing
         assistance to SOLS in respect of technical, administrative and
         service-oriented issues relating to the use and transmission of the
         Content to the SOLS Portal, as SOLS may reasonably request..

2.6      SOLS shall promote the Finance Channel on the SOLS Portal by placing
         buttons to the Finance Channel on the SOLS Portal Global Navigation Bar
         above the fold and will promote the Finance Channel, no less frequently
         and no less prominently than any other Channel available through the
         SOLS Portal Global Navigation Bar. Access to the Finance Channel on the
         SOLS Portal from the SOLS Portal Global Navigation Bar shall be
         navigated directly via one click of the mouse from the SOLS Portal home
         page and via one or more clicks of the mouse from any other SOLS Portal
         page. For the avoidance of doubt, SOLS shall provide a permanent Link
         from any dedicated 'money', 'finance', 'investment', or similarly
         titled SOLS Portal Channel (currently on the SOLS Portal, or if and
         when developed) to the Finance Channel.

2.7      SOLS shall use reasonable endeavours to develop Links from other
         ISP/Portals, web sites, channels, URL's, other Internet Services,
         Wireless Application Protocol and television , or services in order to
         generate and direct Traffic to the Finance Channel on the SOLS Portal.
         SOLS shall be responsible for marketing the Finance Channel on the SOLS
         Portal in order to generate maximum Traffic to the Finance Channel on
         the SOLS Portal.

2.8      SOLS shall use reasonable endeavours to continue to build its
         subscriber base and Traffic to SOLS Portal and to drive Traffic to the
         Finance Channel on the SOLS Portal.

2.9      If provided by the end user, GLBN shall provide SOLS on a daily basis
         with the following customer information from the Finance Channel on the
         SOLS Portal (subject to the Data Protection Act):

         2.9.1    Name, address, e-mail address, age, sex, whether or not the
                  customer has a portfolio of shares registered on the Finance
                  Channels on the SOLS Portals, telephone and mobile telephone
                  numbers.

2.10     GLBN shall, as a minimum, implement the wording, contained in Schedule
         "E", on the page(s) where customers are required to register for
         certain types of information on the Finance Channel on the SOLS Portal
         to ensure the transfer of the customer data mentioned in Section 2.9.1
         in compliance with the data protection legislation of Sweden.

2.11     GLBN shall provide SOLS with traffic reports related to Traffic on the
         Finance Channel on the SOLS Portal. The transmission shall take place
         via a FTP to the

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         SOLS servers, every night between 2 and 5 am local time. However,
         Traffic from third-party sources (for example "Stock Point") shall be
         provided weekly. GLBN will use reasonable endeavours to get such third
         parties to provide such Traffic more frequently. GLBN shall bear the
         cost of establishing the necessary transmission protocols and
         equipment. SOLS shall provide GLBN with aggregate level traffic reports
         related to Traffic on the SOLS Portal weekly or quarterly as is
         received by SOLS.

2.12     SOLS shall have the right to add the Traffic figures from the Finance
         Channel on the SOLS Portal to the SOLS total Traffic information.

3.       GRANT OF LICENCES

3.1      Subject to the terms and conditions of this Agreement, SOLS hereby
         grants to GLBN:

         3.1.1    an exclusive (as defined in clause 8), royalty-free,
                  fully-paid licence to use, display the Finance Channel on the
                  SOLS Portal homepage and the global navigation bar, and to
                  promote, cross-promote, market, and advertise the Finance
                  Channel in other areas within the SOLS Portal as agreed from
                  time to time;

         3.1.2    an exclusive (as defined in clause 8), royalty-free,
                  fully-paid licence to use, reproduce and display the GLBN
                  Brand Features on the Finance Channel on SOLS Portal and in
                  other areas within the SOLS Portal, which are used to drive
                  Traffic to the Finance Channel on the SOLS Portal, in
                  connection with (i) the presentation of the Content and
                  Financial Transactional Services within the SOLS Portal, and
                  (ii) the marketing and promotion of the Finance Channel within
                  the SOLS Portal via the WWW, in accordance with the terms of
                  this Agreement;

         3.1.3    to the extent possible, a royalty-free, fully-paid licence to
                  use, reproduce and display relevant parts of the Finance
                  Channel (as determined by GLBN) over the SOLS Wireless
                  Application Protocol Portal ("SOLS WAP Portal") when developed
                  and launched. GLBN shall cover its own cost for implementing
                  and managing the necessary technology for this service.

3.2      The licence contained in Clause 3.1 is subject to:

         3.2.1    the GLBN Brand Features being included in the Finance Channel
                  with proper proprietary notices appearing in the Finance
                  Channel and in all uses of GLBN Branded Features; and

         3.2.2    no changes being made to the Finance Channel design format as
                  outlined in Schedule A without the prior written approval of
                  both Parties. However , the SOLS Portal will be redesigned
                  from time to time, and in the case of such redesigning a
                  meeting will take place between SOLS and GLBN to agree on the
                  new design for the Finance Channel, and the art directors from
                  both companies will have the power to approve such new
                  designs. The new design

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                  should reflect the same way of co-branding as in the previous
                  version, and SOLS Portals look and feel from time to time.
                  Further, the brand name of "Passagen Ekonomi" and the brand
                  name which GLBN chooses for the Finance Channel shall always
                  take up the same amount of space as in Schedule A, and shall
                  have similar relative positions as in Schedule A. The new
                  design will replace Schedule A effective from the date of such
                  approval.

3.3      GLBN shall have the Finance Channel ready for launch on the SOLS Portal
         as soon as possible, but no later than 3 business days prior to the 1st
         July 2000, unless the Launch Date is delayed due to the Avanza
         agreement, see Clause 8.4, in which case the Finance Channel shall be
         ready to launch no later than 3 business days prior to the termination
         of the Avanza agreement, which shall be no later than 1st October
         2000.. SOLS shall launch the Finance Channel on the SOLS Portal no
         later than three days from GLBN informing them that it is ready for
         launch on the SOLS Portal. For services on the SOLS WAP Portal, GLBN
         shall have the option of starting operations at the latest, 60-days
         after launch of the SOLS WAP Portal, provided that SOLS must give GLBN
         60-days notice prior to the launch of the SOLS WAP Portal.

3.4      Subject to the terms and conditions of this Agreement, SOLS hereby
         grants to GLBN, a royalty-free, fully-paid licence to use, reproduce
         and display the SOLS Brand Features in connection with the presentation
         of the Finance Channel on the SOLS Portal.

3.5      Subject to the terms of this Agreement, all other rights with respect
         to the Finance Channel and any reproductions or derivative works of it,
         whether now existing or which may come into existence after the
         Effective Date which are not expressly granted to SOLS under this
         Agreement, including but not limited to print publication, electronic
         publication in all media and in all formats other than those addressed
         in this Agreement, and video, movie and audio rights, are reserved to
         GLBN.

4.       PAYMENT OF PRICE

4.1      In consideration for the Exclusivity for the Term granted to GLBN in
         providing and operating the Finance Channels on the SOLS Portal as
         contemplated under this Agreement, GLBN agrees to pay the Price to SOLS
         as follows:

         4.1.1    GLBN shall pay a cash contribution of US $ 1,350,000 (one
                  million three hundred and fifty thousand dollars) to SOLS;

         4.1.2    GLBN shall pay by allocation of Common Shares in GLBN, such
                  Common Shares currently traded on the nasdaq NMS under the
                  symbol GLBN. GLBN shall issue new Common Shares to SOLS in an
                  amount equal to US $ 2,025,000 (two million and twenty five
                  thousand dollars). Such Common Shares shall be priced at the
                  average of closing price for the five business days
                  immediately prior to the signing of the Heads of Agreement
                  dated January 19th

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                  2000, such average closing price being US $28.225. SOLS shall
                  receive 71,745 Common Shares in GLBN.

         4.1.3    The Price shall be paid according to the following schedule:

                  At       Closing: US $ 2,025,000by allocation of 71,745 Common
                           Shares

                  At       Review Date 1: If the Agreement is continued for
                           another 6 months (see Clause 11) US $ 810,000 will be
                           paid in cash to an account as specified by SOLS.

                  At       Review Date 2: If the Agreement is continued until
                           the end of the Term, (see Clause 11) a cash
                           contribution of US $ 540,000 will be paid to an
                           account as specified by SOLS.

4.2      In relation to Financial Transactional Services, which shall appear on
         the Finance Channel on the SOLS Portal subject to regulatory approval,
         SOLS shall be entitled to invest in Financial Transactional Services on
         the following basis:

         4.2.1    GLBN shall use reasonable endeavours to develop Financial
                  Transactional Services for Scandinavia (Norway, Sweden and
                  Denmark) for all Finance Channels, including the Finance
                  Channel on the SOLS Portal. SOLS shall be entitled to
                  participate pari passu with GLBN to 45% of the 88% awarded the
                  SOL Group of half of the equity shares not subscribed to by
                  third parties that are not traffic partners (such as World
                  Online), see Schedule J for examples.

         4.2.2    GLBN shall use reasonable endeavours to develop Financial
                  Transactional Services for all Finance Channels, which may or
                  may not include one or more of the Finance Channels on the
                  SOLS Portals. In all these instances, SOLS shall be entitled
                  to participate pari passu with GLBN to a portion of half of
                  the shares not subscribed to by third parties that are not
                  traffic partners, equal to the proportionate unique visitor
                  numbers they provide in relation to the total unique visitor
                  numbers (as measured and/or audited by the same independent
                  third party) provided by the traffic partners on whose portals
                  the service is made available.

4.3      In the event that SOLS decides not to invest as an equity shareholder
         in Financial Transactional Services, SOLS shall be entitled to a
         revenue share to be agreed at that time. In such an event, SOLS's
         choice is mutually exclusive as to clause 4.2, above (for the avoidance
         of doubt, SOLS cannot be an equity investor, and, additionally, receive
         revenues from Financial Transactional Services).

4.4      Subject to the joint agreement of the Parties, this Agreement may be
         renewed for the Renewal Term on similar terms and conditions as under
         this Agreement.

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4.5      LOCK UP AGREEMENT

         The Common Shares contributed as payment in accordance with Clause 4 of
         this Agreement shall be subject to a Lock-up period in accordance with
         the following conditions;

         a)       25% of the Common Shares distributed to SOLS, shall be subject
                  to a Lock-up period of 9-months following the Closing Date of
                  this Agreement; and

         b)       25% of the Common Shares distributed to each of SOLS, shall be
                  subject to a Lock-up period 1-year following the Closing Date
                  of this Agreement; and

         c)       25% of the Common Shares distributed to each of SOLS, shall be
                  subject to a Lock-up period of 18-months following the Closing
                  Date of this Agreement; and

         d)       25% of the Common Shares distributed to each of SOLS, shall be
                  subject to a Lock-up period of 24-months following the Closing
                  Date of this Agreement.

5.       SALE AND SPONSORSHIP OF ADVERTISING RIGHTS

5.1      SOLS shall have a right for sale and sponsorship of Advertising Rights
         for the Finance Channel on the SOLS Portal under this Agreement. CPM
         for advertisements shall not be under 90 % of the average CPM of the
         SOLS Portal in the respective countries, or the average CPM of the
         advertising agencies.

5.2      GLBN agrees that SOLS may, at no additional cost, place one button (of
         no more than 130x20 or 130x50 pixels in size) in the right hand column
         on each page of the Content for the promotion of its SOLS Portal
         subject to GLBN choice of placement.

6.       ADVERTISING REVENUE DISTRIBUTION

6.1      For advertisements sold by SOLS, the agency commission will be 30% or
         as agreed from time to time between the Parties. SOLS shall determine
         the advertising revenue received each quarter at the end of such
         quarter and pay/account for the relevant sums in accordance with this
         Clause 6. SOLS shall retain the Advertising Revenue, if received by
         SOLS, and the balance shall be paid to GLBN within seven (7) days of
         such quarter.

6.2      In the event GLBN, or it's appointed advertising agency, shall generate
         certain advertising revenue controlled by this Agreement, then GLBN
         shall pay the Advertising Revenue to SOLS within 7 days after the end
         of the quarter in which such advertising revenue is received by GLBN,
         together with a report, signed by an officer of GLBN, confirming the
         amount of advertising revenue received.

6.3      Each Party shall at its cost (except as provided below) have the right
         during normal working hours and upon 10 working days' written notice to
         the other Party to examine or audit the other Party's books or records
         relating to the revenue in order to verify the amounts due to that
         Party. Each Party shall provide reasonable assistance to the other

                      FINANCIAL WEBSITE AGREEMENT - SWEDEN                   15

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Executed Sweden February 25, 2000

         Party, in relation to any such audit. If any such audit reveals an
         underpayment of the amounts due to that Party, the other Party shall
         within 14 working days pay to that Party the amount of such
         underpayment and, if the audit reveals an underpayment of more than 15%
         of the amounts due to that Party, reimburse that Party the reasonable
         costs of such audit.

6.4      All sums payable hereunder are exclusive of any taxes which is (if
         applicable) payable in addition at the rate and in the manner
         prescribed by law from time to time.

7.       OWNERSHIP

7.1      SOLS acknowledges and agrees that GLBN owns all Intellectual Property
         Rights in the Finance Channels, including the URLs of the Finance
         Channels, and the GLBN Brand Features or GLBNs URLs. Nothing in this
         Agreement shall confer in SOLS any right of ownership in the Content or
         the GLBN Brand Features or GLBN's URLs and SOLS shall not now or in the
         future contest the validity of the GLBN Brand Features or GLBNs URLs,
         or GLBN's rights in or to the Finance Channels or GLBN's Brand Features
         or GLBNs URLs.

7.2      GLBN acknowledges and agrees that SOLS own all Intellectual Property
         Rights in the SOLS Brand Features or SOLS URLs. Nothing in this
         Agreement shall confer in GLBN any right of ownership in the SOLS Brand
         Features or SOLS URLs and GLBN shall not now or in the future contest
         the validity of the SOLS Brand Features or SOLS URLs, or SOLS rights in
         the SOLS Brand Features or SOLS URLs.

7.3      At the discontinuation of the Agreement, either at Review Date 1 or 2,
         or at Termination or at the end of the Term or the end of Renewal Term,
         GLBN will change the colours and the design on the GLBN finance
         channel, so as not to keep the look and feel of the SOLS Portal at that
         time. GLBN acknowledges that SOLS may wish to copy the layout of the
         Finance Channel in any new arrangement that is made.

8.       EXCLUSIVITY

8.1      SOLS shall not, during the Term or any Renewal Term, except as provided
         for in Clause 2.4.5 above and/or in Clauses 8.2 or 8.3 below, provide
         or enter into an agreement with any third-party, or otherwise develop
         content and/or financial transactional services similar to the Content
         and Financial Transactional Services provided by, and intended to be
         provided by, GLBN on the Finance Channel on the SOLS Portal. The
         Exclusivity of GLBN shall be limited to the Finance Channel on the SOLS
         Portal, and in addition GLBN shall be the only provider of such Content
         and or Financial Transactional Services on the SOLS Portal, so long as
         GLBN complies with Schedule H. For the avoidance of doubt, GLBN shall
         be the sole provider of finance channels, or sub finance channels, and
         of content similar to Content or financial services transactions
         similar to Financial Transactional Services on the SOLS Portal during
         the Term and any Renewal Term of this Agreement.

                      FINANCIAL WEBSITE AGREEMENT - SWEDEN                   16

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Executed Sweden February 25, 2000

8.2      For the avoidance of doubt, the Exclusivity granted to GLBN does not
         restrict SOLS's right to publish content, news, tools and features of a
         financial nature, so long as the publishing of such information is
         presented as a sub-service and/or add-on feature on other Channels
         within the SOLS Portals, and, so long as the publishing of applications
         are presented in a context of substantially non-financial nature. Such
         Channels or applications may be: "Breaking News", "Computers and
         Science", "Health", "Travel", "Gaming", "My SOLS" "My Bank"
         (personalised content), the search engines "Kvasir" and "Evreka"
         (containing financial directories and URL's). SOLS is not restricted
         from providing SOLS credit card, SOL loyalty card or program, everyday
         consumer banking such as day to day payment and looking at account
         balances, SOLS debit card, SOLS current account, or other SOLS payment
         mechanism on the SOLS Portal.

8.3      Subject to Clause 8.4 below, SOLS shall have the right to maintain all
         existing agreements with all, pre-Agreement, financial content
         providers, provided that such financial content is published and
         integrated into Financial Channel under GLBN's guidance. Upon
         expiration of such agreements, GLBN shall have sole discretion
         regarding renewal of such agreements, or may choose to provide such
         additional content.

8.4      GLBN acknowledges that SOLS has an existing agreement with the stock
         broker Avanza. The agreement expires the 30th September 2000, and
         unless the Parties reaches an agreement with Avanza, GLBN will not be
         able to launch the Finance Channel before this expiration date. GLBN,
         SOLS and Avanza will negotiate in order to reach an agreement under
         which Avanza customers may continue for a period of time to access
         their Avanza share portfolios through the Finance Channel. If no
         agreement is reached, SOLS may request that GLBN allow Avanza customers
         to access their share portfolio through the Finance Channel for a
         period of time, provided that Avanza pay for the advertising space on
         market terms.

8.5      The SOL Group may at any time develop new digital products, services or
         platforms, new websites, SOL Group Portals or services ("New SOL Group
         IT") during the Term of the Agreement. GLBN shall be entitled to a
         Penalty to the extent that such New SOL Group IT diverts Traffic from
         the SOLS Portal based on http protocol, as measured by the reduction
         from the unique user Traffic information provided in Schedule F, in as
         much as this is caused by such New SOL Group IT according to a separate
         study performed by an independent source. The Penalty shall equal a
         portion of the consideration equal to the remainder of the prepaid
         period in proportion to the traffic lost, plus 10%.

8.6      When SOLS, or another company in the SOL Group, should initiate a
         majority owned portal operation in Finland, GLBN shall have the same
         rights of Exclusivity to provide a Finance Channel to the SOL Finland
         Portal as governed by this Agreement. No additional consideration shall
         be due from GLBN, or GLBN Group company, for such rights.

                      FINANCIAL WEBSITE AGREEMENT - SWEDEN                   17

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Executed Sweden February 25, 2000

9.       WARRANTIES

9.1      Each Party to this Agreement represents and warrants to the other Party
         that:

         9.1.1    it has the full corporate right, power and authority to enter
                  into this Agreement and to perform its obligations hereunder;

         9.1.2    the execution of this Agreement by such Party, and the
                  performance by such Party of its obligations and duties
                  hereunder, do not and will not violate any agreement to which
                  such Party is a Party or by which it is otherwise bound; and

         9.1.3    when executed and delivered by such Party, this Agreement will
                  constitute the legal, valid and binding obligation of such
                  Party, enforceable against such Party in accordance with its
                  terms.

9.2      GLBN represents and warrants to SOLS that:

         9.2.1    it has sufficient rights in the Content to be published on the
                  Finance Channel in accordance with the terms of this
                  Agreement; and

         9.2.2    it has, and will continue to maintain, all regulatory
                  licences, registrations and authorities required to deliver
                  the Content and operate the Finance Channel through the SOLS
                  Portal;

         9.2.3    to the extent that the information is on the GLBN webserver(s)
                  under GLBN's control, that the Financial Channel on the SOLS
                  Portal shall be up and accessible 99.5% of the time from the
                  Launch Date, measured by GLBN over 45 days rolling and
                  reported to SOLS.

9.3      SOLS represents and warrants to GLBN that:

         9.3.1    they have sufficient rights in the SOLS digital service,
                  products or other platforms and websites or SOLS Portal to
                  grant to GLBN the right to use the same in accordance with the
                  terms of this Agreement; and

         9.3.2    they have, and will continue to maintain, all regulatory
                  licences, registrations and authorities for the SOLS digital
                  service, products or other platforms and websites or SOLS
                  Portal; and

         9.3.3    to the extent that the information is on the SOLS webserver(s)
                  under SOLS's control, that the SOLS Portal, and all Links to
                  the Finance Channels from the SOLS Portal, shall be up and
                  accessible 99.5% of the time from Launch Date measured by SOLS
                  over 45 days rolling and reported to GLBN; and

         9.3.4    SOLS shall use its reasonable endeavours to direct an
                  increasing amount of Traffic to the Finance Channel on the
                  SOLS Portal; and

                      FINANCIAL WEBSITE AGREEMENT - SWEDEN                   18

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Executed Sweden February 25, 2000

         9.3.5    that the Traffic figures contained in Schedule "F" are current
                  and accurate;and

         9.3.6    the URLs mentioned in the definition of SOLS Portal are the
                  URLs used by the SOLS customer base that generates the Traffic
                  described in Schedule F; and

         9.3.7    that the agreement between SOLS and Avanza shall not delay the
                  launch of the Finance Channel on the SOLS Portal after the 1st
                  October 2000.

10.      GLBN'S RESPONSIBILITY FOR THE CONTENT

10.1     GLBN will ensure that the Finance Channel and the Financial
         Transactional Services complies with all applicable laws and
         regulations.

10.2     GLBN will use reasonable endeavours to ensure that the Content and/or
         Financial Transactional Services on the SOLS Portal do not infringe any
         Intellectual Property Rights of a third party and that it does not
         libel, defame, cause injury to, invade the privacy of or otherwise
         violate any other rights of any person.

10.3     If at any time during the Term of this Agreement any part of the
         Content and/or the Finance Channels and/or the Financial Transactional
         Services on the SOLS Portal are in breach of any applicable law or
         regulation or infringes the Intellectual Property Rights of any third
         party then GLBN shall:

         10.3.1   use reasonable endeavours to provide alternative content which
                  will not be in breach of any applicable law or regulation or
                  infringe the Intellectual Property Rights of any third party;
                  or

         10.3.2   remove the offending part of the Content and replace it so far
                  as is reasonably practicable with equivalent content.

11.      REVIEW PROCESS

11.1     Within the Review Date 1 and Review Date 2, the Parties will assess
         each others fulfilment of the obligations and benefits derived under
         this Agreement. To the extent that the performance and the benefits
         derived from this Agreement is considered satisfactory, the Agreement
         will be continued automatically. A notice of non-continuance must be
         given to the other Party in writing no later than thirty days before
         Review Date 1 or Review Date 2.

12.      TERM AND TERMINATION

12.1     This Agreement shall take effect from the Effective Date and shall
         continue thereafter for the Term, after the Launch Date Average, unless
         it is discontinued on Review Date

                      FINANCIAL WEBSITE AGREEMENT - SWEDEN                   19

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Executed Sweden February 25, 2000

         1 or Review Date 2 as described in Clause 11 above. This Agreement
         shall extend through the Renewal Term as further described in Clause
         4.4.

12.2     Either Party shall be entitled to Terminate this Agreement, with
         written notice in the event that the other:

         12.2.1   commits a material breach of the terms of this Agreement and
                  having received from the Party not in breach written notice of
                  such breach stating the intention to Terminate this Agreement
                  if not remedied, and the noticed Party fails to remedy the
                  breach within 30-days; or

         12.2.2   shall cease to carry on its business or shall have a
                  liquidator, receiver or administrative receiver appointed to
                  it or over any part of its undertaking or assets or shall pass
                  a resolution for its winding up (otherwise than for the
                  purpose of a bona fide scheme of solvent amalgamation or
                  reconstruction where the resulting entity shall assume all of
                  the liabilities of it) or a court of competent jurisdiction
                  shall make an order, or shall enter into any voluntary
                  arrangement with its creditors, or shall be unable to pay its
                  debts as they fall due, or similar in any other jurisdiction.

         12.2.3   Repeated breaches of the warrants given under Clauses 9.2.3
                  and 9.3.3 shall be considered material to both Parties.

13.      EXTENSION OF TERM

13.1     Upon conclusion of the Term under this Agreement, this Agreement shall
         be renewed for the Renewal Term if agreed to by the Parties.

14.      CONSEQUENCES OF TERMINATION

14.1     In the event of  Termination of the Agreement , the Parties agree to:

         14.1.1   cease using the other's "Brand Features";

         14.1.2   with respect to any payments of Advertising Revenue and/or
                  Financial Transactional Revenues outstanding, SOLS and GLBN
                  agree to pay to the other Party its percentage of such
                  revenues in accordance with the provisions of Clause 6 as well
                  as Financial Transactional Revenue.

14.2     If this Agreement is Terminated according to clause 12.2 by reason of
         breach on the side of SOLS, SOLS shall reimburse GLBN, notwithstanding
         Clause 4.5 (for the avoidance of doubt, the Lock-up agreement does not
         apply for reimbursements under this Clause), in accordance with the
         following schedule:

                      FINANCIAL WEBSITE AGREEMENT - SWEDEN                   20

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Executed Sweden February 25, 2000

         14.2.1   US $ 2,025,000 or 71,745 Common Shares, at SOLS discretion as
                  to cash or shares, plus US $ 225,000 (two hundred and
                  twentyfive thousand dollars) if Termination isbefore 1 month
                  of the Launch Date Average;

         14.2.2   If Terminated 1 month after Launch Date Average or later, a
                  pro rata share of the consideration prepaid, either in cash or
                  the number of shares (at SOLS discretion), corresponding to
                  the remaining prepaid number of months.

14.3     If this Agreement or any individual Finance Channel on the SOLS Portal
         is Terminated according to clause 12.2 by reason of breach on the side
         of GLBN, SOLS shall reimburse GLBN, notwithstanding Clause 4.5 (for the
         avoidance of doubt, the Lock-up agreement does not apply for
         reimbursements under this Clause), in accordance with the following
         schedule:

         14.3.1   US $ 1,800,000 or 63,773 Common Shares, at SOLS discretion as
                  to cash or shares, if Terminated between Effective Date and
                  before 1 month of Launch Date Average;

         14.3.2   If Terminated 1 month after Launch Date Average or later, a
                  pro rata share of the consideration prepaid, either in cash or
                  the number of shares (at SOLS discretion), corresponding to
                  the remaining prepaid number of months, less 10%.

14.4     Any Termination or discontinuance of the Agreement (howsoever
         occasioned), shall not affect any accrued rights or liabilities of
         either Party nor shall it affect the coming into force or the
         continuance in force of any provision hereof which is expressly or by
         implication intended to come into or continue in force on or after such
         Termination or discontinuance.

14.5     Clauses 14,15,16,17,21 and 22 shall survive Termination or
         discontinuance of this Agreement.

14.6     On any Termination or discontinuance of this Agreement (other than a
         termination by GLBN in accordance with Clause 12.2), or on expiration
         of the Agreement, both GLBN and SOLS shall have the right to use all
         customer information generated from the Finance Channel.

15.      LIMITATIONS OF LIABILITY

15.1     Subject to Clause 14.2, the liability of either Party in contract,
         tort, negligence, pre-contract or other representations or otherwise
         arising out of or in connection with this Agreement or the performance
         or observance of its obligations under this Agreement, and every
         applicable part of it shall be limited in aggregate to US $2,025,000
         reduced on a pro rata basis in accordance with the remainder of the
         Term.

                      FINANCIAL WEBSITE AGREEMENT - SWEDEN                   21

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Executed Sweden February 25, 2000

         15.1.1   Not withstanding the foregoing, GLBN shall indemnify SOLS for
                  liability arising out of, or in connection with, the Finance
                  Channels, subject to a limited aggregate of US $ 450,000.

         15.1.2   Not withstanding the foregoing, SOLS shall indemnify GLBN for
                  liability arising out of, or in connection with, the SOLS
                  Portals, subject to a limited aggregate of US $ 450,000.

15.2     In any event, neither Party shall be liable to the other under, or in
         connection with, this Agreement in contract, tort, negligence,
         pre-contract or other representations (other than fraudulent or
         negligent misrepresentations) or otherwise for any loss of business,
         contracts, profits or anticipated savings or for any indirect or
         consequential or economic loss whatsoever, except for in cases of gross
         negligence or wilful misconduct.

15.3     Each provision of this Clause 15 excluding or limiting liability shall
         be construed separately, applying and surviving even if for any reason
         one or other of these provisions is held inapplicable or unenforceable
         in any circumstances and shall remain in force notwithstanding the
         expiration, or Termination of this Agreement.

16.      CONFIDENTIALITY

16.1     During the Term and thereafter, each Party agrees with the other,
         except for as otherwise agreed herein, to keep all information that
         they obtain about the other concerning the business, finances,
         technology, affairs and Intellectual Property Rights of the other, and
         in particular but not limited to, the Content and Financial
         Transactional Services and the SOLS Portal and regardless of its nature
         ("Confidential Information"), strictly confidential, except as needed
         in connection with the establishment and operation of Financial
         Transactional Services.

16.2     The provisions of this Clause 16 shall cease to apply to:

         16.2.1   information that has come into the public domain other than by
                  breach of this Clause or any other duty of confidence; and

         16.2.2   information that is obtained from a third party without breach
                  of this Clause or any other duty of confidence; and

         16.2.3   information that is known by either Party, in connection with
                  the other Party, and which has been disclosed to either Party
                  by a third party, other than GLBN or SOLS or a contractor of
                  either of them and not in breach of any duty of confidence;
                  and

         16.2.4   information that is trivial or obvious; and

                      FINANCIAL WEBSITE AGREEMENT - SWEDEN                   22

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Executed Sweden February 25, 2000

         16.2.5   information that is required to be disclosed by a government
                  body or court of competent jurisdiction.

17.      NOTICES

17.1     Any notices required to be given under this Agreement shall be in
         writing and shall be deemed to have been duly served if hand delivered
         or sent by facsimile with the original to be forwarded by first class
         post or by first class registered post or recorded delivery post within
         the United Kingdom and outside the United Kingdom by registered airmail
         post correctly addressed in the case of GLBN to the Managing Director
         and in the case of SOLS to the General Manager at the addresses
         specified in this Agreement or at such other address as either Party
         may designate from time to time in accordance with this Clause.

17.2     Any notice pursuant to Clause 17.1 shall be deemed to have been served:

         17.2.1   if hand delivered at the time of delivery by posting through
                  the letter box of the correct addressee in accordance with
                  Clause 17.1 above;

         17.2.2   if sent by facsimile within one hour of transmission during
                  business hours at its destination or within 24 hours if not
                  within business hours but subject to proof by the sender that
                  it holds an acknowledgement confirming receipt of the
                  transmitted notice in readable form; and

         17.2.3   if sent by post within 48 hours of posting (exclusive of the
                  hours of Sunday) if posted to an address within the country of
                  posting and seven days of posting if posted to an address
                  outside the country of posting.

18.      ASSIGNMENT AND CHANGE OF CONTROL

18.1     GLBN shall be entitled to assign the benefit and/or the burden of this
         Agreement in whole or in part to a company within the Group upon notice
         to SOLS , save in the event that all the shares in GLBN are acquired by
         a direct competitor of SOLS in Sweden, Norway and/or Denmark in the
         Internet general consumer content business (for example AOL) and not an
         Internet specialist consumer content business (such as Schwabb or
         CNN).In the event of such an assignment GLBN will not be entitled to
         Exclusivity defined in Clause 8.

18.2     SOLS shall be entitled to assign the benefit and/or the burden of this
         Agreement in whole or in part to a company within the Group upon notice
         to GLBN, save in the event that all the shares in SOLS are acquired by
         a direct competitor of GLBN in Sweden, Norway and/or Denmark in the
         Internet specialist consumer content business (such as Schwabb) and not
         a general consumer content business (for example AOL). In the event of
         such an assignment GLBN will be entitled to distribute its Content,
         notwithstanding Clause 2.3.

                      FINANCIAL WEBSITE AGREEMENT - SWEDEN                   23

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19.      FORCE MAJEURE

19.1     Neither party shall be liable for failure to perform or delay in
         performing any obligation under this agreement if the failure or delay
         is caused by any circumstances beyond its reasonable control, including
         but not limited to acts of god, war, civil commotion or industrial
         dispute. If such delay or failure continues for at least ninety (90)
         days, the party not subject to the force majeure shall be entitled to
         terminate this agreement by notice in writing to the other. In such an
         event a pro rata share of the consideration pre paid , corresponding to
         the remaining prepaid number of months, is reimbursed. To the extent
         the prepayment was made in shares, the reimbursement shall be made in
         the proportionate numbers of shares. To the extent the prepayment was
         made in cash, the reimbursement shall be made in cash.

20.      GENERAL

20.1     This Agreement (as amended from time to time) together with any
         document expressly referred to in any of its terms, contains the entire
         agreement between the Parties relating to the subject matter covered
         and supersedes any previous Agreements, arrangements, undertakings or
         proposals, written or oral, between the Parties in relation to such
         matters. No oral explanation or oral information given by any Party
         shall alter the interpretation of this Agreement. All Parties confirm
         that, in agreeing to enter into this Agreement, they have not relied on
         any representation save insofar as the same has expressly been made a
         representation in this Agreement and agrees that they shall have no
         remedy in respect of any misrepresentation which has not become a term
         of this Agreement save that the Agreement of all Parties contained in
         this Clause shall not apply in respect of any fraudulent or negligent
         misrepresentation whether or not such has become a term of this
         Agreement.

20.2     No addition to, or modification of, any provision of this Agreement
         shall be binding on the Parties unless made by a written instrument and
         signed by a duly authorised representative of each of the Parties.

20.3     The failure to exercise or delay in exercising a right or remedy under
         this Agreement shall not constitute a waiver of the right or remedy or
         a waiver of any other rights or remedies and no single or partial
         exercise of any right or remedy under this Agreement shall prevent any
         further exercise of the right or remedy or the exercise of any other
         right or remedy. The rights and remedies contained in this Agreement
         are cumulative and not exclusive of any rights or remedies provided by
         law.

20.4     The invalidity, illegality or un-enforceability of any provision of
         this Agreement shall not affect or impact the continuation in force of
         the remainder of this Agreement.

20.5     Nothing in this Agreement shall be construed as creating a partnership
         or joint venture of any kind between the Parties or as constituting
         either Party as the agent of the other Party(ies) for any purpose
         whatsoever and neither Party(ies) shall have the authority or power to
         bind the other Party(ies) or to contract in the name of or create a
         liability against the other Party(ies) in any way or for any purpose.

                      FINANCIAL WEBSITE AGREEMENT - SWEDEN                   24

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Executed Sweden February 25, 2000

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

20.7     All Parties undertake with the other to do all things reasonably within
         its power, which are necessary or desirable to give effect to the
         spirit and intent of this Agreement.

20.8     The Parties hereto shall and, shall use their respective reasonable
         endeavours to procure, so far as they are able, that any necessary
         third parties shall execute and perform all such further deeds,
         documents, assurances, acts and things as any of the Parties hereto may
         reasonably require, by notice in writing to the other to carry the
         provisions of this Agreement into effect.

20.9     GLBN shall not approach or enter into business arrangements with any
         entity that appears on the SOLS Exclusion List.

20.10    SOLS shall not approach or enter into business arrangements with any
         entity that appears on the GLBN Exclusion List.

21.      DISPUTE RESOLUTION

21.1     Disputes between the Parties arising out of or in connection with this
         Agreement shall primarily be resolved by negotiations. Each Party may
         however decide to refer the dispute to arbitration in accordance with
         the then-current rules of Chapter 32 of the Norwegian Civil Procedures
         Act of 13 August 1915, if a settlement has not been reached within 3
         weeks of negotiations.

21.2     However, neither negotiations nor the arbitration clause shall limit
         either Party to seek interim, interlocutory or permanent injunctive
         relief from any court of competent jurisdiction.

21.3     The arbitration proceedings will be conducted in Oslo or any other city
         acceptable to all Parties. The language of the arbitration proceedings
         will be in English. All arbitration will be conducted before a three
         person panel, consisting of one arbitrator selected by the GLBN, one
         arbitrator selected by SOLS, and one arbitrator selected by the
         foregoing two arbitrators. If any of the Parties should fail to appoint
         an arbitrator within 3 weeks after the negotiations period as mentioned
         above has ended, the other Party will be given the right to appoint the
         arbitrators. Each arbitrator will be experienced in conducting
         international arbitration in the communications industry. The decision
         resulting from the arbitration will be final and binding on the
         Parties. The Parties each agree that, except as required by applicable
         law or regulation, it will keep confidential the existence and outcome
         of any arbitration proceeding, as well as the contents thereof, and
         will require the arbitrators to adhere to the same obligation of
         confidentiality.

                      FINANCIAL WEBSITE AGREEMENT - SWEDEN                   25

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22.      LAW AND JURISDICTION

         This Agreement shall be governed by, and construed in accordance with,
         the laws of Norway.

23.      CONDITIONS TO CLOSING

23.1     This Agreement does not become binding upon the Parties unless a
         Financial Website Agreement is entered into between GLBN and
         Scandinavia Online AS (Norway), Scandinavia Online A/S (Denmark) and
         also that a Share Purchase Agreement is entered into between the
         shareholders of SOL B0rs AS and GLBN.

                      FINANCIAL WEBSITE AGREEMENT - SWEDEN                   26

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Executed Sweden February 25, 2000

IN WITNESS the duly authorised representatives of the Parties have executed this
Agreement the day and year first above written.

SCANDINAVIA ONLINE AB:                      GLOBALNETFINANCIAL.COM INC

------------------------------              ------------------------------
Sverre Munch                                Dr. Katrina Tarizzo

------------------------------
Birger Steen

                      FINANCIAL WEBSITE AGREEMENT - SWEDEN                   27EXHIBIT 10.13

                               [GRAPHIC OMITTED]

                                LEASE AGREEMENT
                       SCHEVER INTERNATIONAL PLAZA, INC.
<PAGE>

                                   INDEX                                    PAGE
                                   -----                                    ----
ARTICLE I        Description of Property ..................................   1
ARTICLE II       Rent .....................................................   1
ARTICLE III      Landlord's Services ......................................   4
ARTICLE IV       Preparation of Premises ..................................   5
ARTICLE V        Repair and Maintenance ...................................   6
ARTICLE VI       Tenant Care and Repair ...................................   6
ARTICLE VII      Late Payments ............................................   7
ARTICLE VIII     Holding Over .............................................   7
ARTICLE IX       Alterations, Additions and Improvements ..................   7
ARTICLE X        Assignment and Subletting ................................   9
ARTICLE XI       Rules and Regulations ....................................  10
ARTICLE XII      Relocation ...............................................  11
ARTICLE XIII     Floor Loads, Noise and Vibrations ........................  11
ARTICLE XIV      Tenant's Insurance .......................................  11
ARTICLE XV       Non-Liability and Indemnification ........................  12
ARTICLE XVI      Destruction or Damage by Fire or Other Casualty ..........  13
ARTICLE XVII     Eminent Domain ...........................................  13
ARTICLE XVIII    Signs ....................................................  14
ARTICLE XIX      Default ..................................................  14
ARTICLE XX       Subordination ............................................  16
ARTICLE XXI      Access by Landlord........................................  17
ARTICLE XXII     Lawful Use of Premises....................................  17
ARTICLE XXIII    Quiet Enjoyment ..........................................  17
ARTICLE XXIV     Tenant Forbidden to Encumber Landlord's Interest .........  17
ARTICLE XXV      Applicable Law............................................  17
ARTICLE XXVI     Representations and Agreements............................  18
ARTICLE XXVII    Force Majeur .............................................  18
ARTICLE XXVIII   Relationship of the Parties ..............................  18
ARTICLE XXIX     Plate Glass ..............................................  18
ARTICLE XXX      Provisions Relating to Interpretation ....................  18
ARTICLE XXXI     Brokerage ................................................  18
ARTICLE XXXII    Recovery of Litigation Expense ...........................  19
ARTICLE XXXIII   Notices ..................................................  19
ARTICLE XXXIV    Miscellaneous ............................................  19
RULES AND REGULATIONS ..................................................... 1-5
GUARANTY .................................................................. 1-2
EXHIBIT "A"      Demised Premises Floor Plan
EXHIBIT "B"      Option to Extend
EXHIBIT "B-1"    Disclosure and Acknowledgement
EXHIBIT "C"      Work Agreement

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                                         LEASE
                                       FACE PAGE
                                       ---------
1. LANDLORD:                   Schever International Plaza, Inc.

2. LANDLORD'S ADDRESS:         7280 W. Palmetto Park Road, Suite 201
                               Boca Raton, FL 33433

3. TENANT:                     Globalnet Financial.Com, Inc.

4. TENANT'S ADDRESS:           7280 W. Palmetto Park Road- Suite 202 - N
                               Boca Raton, FL 33433

5. LEASE COMMENCEMENT
   DATE (IF PREMISES
   ARE COMPLETE):              Upon completion of tenant improvements in
                               accordance with mutually approved plans and
                               specifications and receipt by Landlord of a
                               Certificate of Occupancy for the Leased Premises.

6. RENTAL COMMENCEMENT
   DATE:                       Upon the Lease Commencement Date

7. EXPIRATION DATE:            Five {5} years following the Lease Commencement
                               Date

8. LEASE TERM
   (AND OPTIONS,
   IF ANY):                    Five {5} years with one, five {5} year option to
                               extend {See Exhibit B}

9. LEASED PREMISES:            Schever International Plaza - Suite 210-S
                               7284 W. Palmetto Park Road
                               Boca Raton, FL 33433

10. GARAGE SPACES
    ALLOCATED:                 Four {4}

11. GROSS DIMENSIONS
    (APPROXIMATION):           2,287 usable square feet/2,676 rentable square
                               feet

12. RENT PER SQUARE FOOT:      $17.50 per rentable square foot per annum

13. PERCENTAGE OF BUILDING:    5.5%

14. TENANT USE:                General Office Use

15. RESTRICTIONS
    (IF ANY):

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16. TENANT'S TRADE
    NAME:                      Globalnet Financial.Com, Inc.

17. ANNUAL BASE RENT
    (SUBJECT TO ADJUST-
    MENT OR ADDENDUM):         {$46,830} - Forty-Six Thousand Eight Hundred
                               Thirty and No/100 Dollars per year {$3,902.50} -
                               Three Thousand Nine Hundred Two and 50/100
                               Dollars per month

18. ADDITIONAL RENTAL:         Estimated pursuant to Paragraph 2.3.F.)

         A.       Maintenance/Operating Expenses, Real Estate Taxes and
                  Insurance:

                  $     8.28      Per Square Foot
                  ----------
                  $ 1,846.44      Per Month
                  ----------
                  $22,157.28      Per Year
                  ----------

         B.       6% Florida Sales Tax: (Subject to Adjustment)

                  $   344.94
                  ----------

19. TOTAL MONTHLY RENTAL OBLIGATION: $6,093.88

20. SECURITY DEPOSIT: $11,497.88

21. PARTICIPATING BROKERS (IF ANY):

         Arvida Realty Sales, Ltd.

22. OTHER:

THIS IS A LEGALLY BINDING DOCUMENT. IT IS PART OF YOUR LEASE. PLEASE READ IT
THOROUGHLY BEFORE YOU SIGN. THE ITEMS CONTAINED ON THIS FACE PAGE REFER TO
VARIOUS PROVISIONS IN THE LEASE. THERE ARE NO AGREEMENTS BETWEEN THE PARTIES
UNLESS CONTAINED IN WRITING IN THIS LEASE.

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                          SCHEVER INTERNATIONAL PLAZA

                            STANDARD LEASE AGREEMENT

         THIS LEASE AGREEMENT made and entered into this 16th day of June 1999
by and between SCHEVER INTERNATIONAL PLAZA, INC., hereinafter referred to as
"Landlord" or "Lessor", and GLOBALNET FINANCIAL.COM, INC. a Delaware
corporation, hereinafter referred to as "Tenant".

                              W I T N E S S E T H:

         In consideration of the rents, covenants and agreements herein,
Landlord does hereby lease to Tenant and Tenant hereby leases from Landlord upon
terms, provisions and conditions herein, the red property hereinafter described.

                      ARTICLE I - DESCRIPTION OF PROPERTY

         1.1. Description of Property: Landlord leases to Tenant a portion of
the real property in the development known as Schever International Plaza, Boca
Raton, Florida (hereinafter referred to as the "Leased Premises") reflected on
the floor plan attached hereto as Exhibit "A" and made a part hereof.

         1.2. Rentable Area: The Leased Premises consists of approximately (see
Face Page) square feet and constitutes (see Face Page) percentage of the square
footage of the building. Notwithstanding the foregoing, any deviation between
actual square footage and the foregoing estimate shall not serve as grounds for
any claim of breach or rescission, although same may result in a modification of
sums due as set forth hereinafter.

         1.3. Term: This Lease shall be for a term of (see Face Page) years,
hereinafter sometimes referred to as the "Term" or "Initial Term"), commencing
on (see Face Page). If the Leased Premises are not ready for occupancy by the
commencement date for any reason, Landlord shad not be liable for any claims,
damages, liabilities in connection therewith or by reason thereof, and the term
shall commence on the date the Leased Premises are ready for occupancy. In the
event of the necessity of a Certificate of Occupancy prior to commencement, then
the Standard Addendum Agreement shall be deemed incorporated herein and shall
control.

         1.4. Use: The Leased Premises shall be used and occupied by Tenant
solely for the purpose of (see Face Page) and for no other purpose without
Landlord's prior written consent.

                               ARTICLE II - RENT

         2.1. Rental: Subject to paragraph 2.2 hereof, Tenant covenants and
agrees with Landlord to pay rentals as set forth on the Face Page. All rental
payments are due on the first of any month during the lease term. If the renew
commencement date is other than the first day, then the first month's rental
shall be prorated accordingly.

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         2.1. (a) Security Deposit: Concurrently with the execution hereof,
Tenant shall pay to Landlord the amount set forth on the Face Page to be held as
a deposit to secure performance of Tenant's obligations hereunder. Upon the
occurrence of any event of default, or upon the failure by Tenant to timely pay
any sum, it is obligated to pay hereunder, Landlord may without prior notice to
Tenant, apply all or part of the security deposit to the curing of any default.
Upon notice of application of security deposit, Tenant shall immediately tender
sufficient sums to reinstate the original security deposit within three (3) days
of notice thereof. Upon termination or expiration of this Lease, the security
deposit shall be returned to Tenant, to the extent the same is not then applied
to either the curing of any event of default or setoff for damages beyond
reasonable wear and tear.

         2.2. Adjustment in Rental. The rental obligation during each successive
year after the first year of the term, or any renewal thereof, shall be
increased by five percent (5%) over the previous year's Base Rent.

         No adjustment shall ever result in a reduction of the rent below the
rental of the preceding year.

         Nothing contained in this Section shall negate Tenant's obligation for
additional rent as defined herein.

         2.3. Tenant's Share of Basic Operating Expenses:

         A. The term "COMMON AREA" shall mean all real or personal property
owned by the Landlord for the common, non-exclusive use of the Landlord, the
Tenant, its employees, guests and invitees, including, but not limited to
sidewalks, landscaped areas, lighting, delivery areas, parking area, entrance
and lobby areas, security, elevators, stairways, hallways shared by more than
one tenant, and all lavatories shared by more than one tenant, or any portions
thereof.

         B. The term "OPERATING EXPENSES" shall mean the operating expenses of
the building and all expenditures by Landlord to maintain the building, parking
and related facilities, and such additional facilities in subsequent years as
may be determined by Landlord to be necessary in accordance with sound and
reasonable practices for facilities of a like kind and character. Operating
expenses shall include all expenses, costs and

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disbursement of any nature in connection with the ownership, operation and
maintenance of the building, including, but not limited to, the following:

         1. All supplies and materials used in the operation and maintenance of
the building;

         2. Cost of all utilities for the COMMON AREAS of the building,
utilities shall include, but not be limited to water, electric, air-conditioning
and ventilation; and utilities supplied to Tenant's leased premises. In the
absence of any specific meter reading on the leased premises, Tenant's
obligation shall be a pro rata share of the utility expense for the building.

         3. Cost of all maintenance and service agreements for the building, the
equipment therein and grounds, including but not limited to janitorial, window
cleaning, elevator maintenance, trash removal, plumbing, security, fire alarm
system, security alarm system, guard service, painting, gardening, landscaping,
plant rotation and replacement, sprinklers, glass replacement and any costs and
expenses associated with maintenance of the parking garage.

         4. All insurance relating to the building, including casualty,
liability, Landlord's personal property used in connection therewith and rent
insurance;

         5. All real estate and other taxes and assessments and governmental
charges, whether federal, state, county or municipal and whether they be by
taxing districts or authorities presently taxing the Leased Premises or by
others, subsequently created or otherwise, and any other taxes and assessments
attributable to the building or its operation excluding, however, federal and
state taxes on income and ad valorem taxes on Tenant's personal peroperty and on
the value of tenant leasehold improvements to the extent that the same exceeds
standard building allowances;

         6. Cost of unreimbursed repairs and general maintenance;

         7. Wages and salaries of all employees engaged in direct operation and
maintenance of the building, employer's social security taxes, unemployment
taxes or insurance, and any other taxes which may be levied on such wages and
salaries, the cost of disability and hospitalization insurance, pension or
retirement benefits or any other fringe benefits for such employees;

         8. Legal expenses, accounting expenses and management fees incurred
with respect to the buildings.

         9. Costs incurred in compliance with new or revised federal or state
laws or municipal ordinances or codes or regulations promulgated under any of
the same;

         10. Amortization of the cost of installation of capital investment
items which are primarily for the purpose of reducing (or avoiding increases in)
operating costs of which may be required by governmental authority. All such
costs shall be amortized over

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the reasonable life of the capital investment items with the reasonable life and
amortization schedule being determined in accordance with generally accepted
accounting principles, and in no event to extend beyond the reasonable life of
the building. In the case of installations for the purpose of reducing (or
avoiding increases in) operating costs, Landlord shall, upon request, provide
Tenant a cost justification therefor.

         C. Basic Operating Costs shall not include: (i) costs for which
Landlord is entitled to specific reimbursement by Tenant, any other tenant of
the building, or any other third party; (ii) costs of initial construction of
the building; (iii) cost of renovating or modifying space in the building for
lease to other tenants; (iv) leasing commissions; and (v) debt service on any
indebtedness secured by the building.

         D. The Tenant's proportionate share of Basic Operating costs shall be a
percentage of the total operating expenses for a given year or prorated portion
thereof and shall be deemed "ADDITIONAL RENT" hereinunder, and shall be paid to
Landlord on the first day of each month in an amount equal to one-twelfth (1/12)
of the Landlord's estimate of Tenant's proportionate share of same.

         E. Landlord may, at As option, furnish Tenant a budget for taxes and
operating expenses setting forth Landlord's estimates of such amounts for the
coming year. Said budget, if provided, may be submitted to Tenant on or about
January 31st of each year.

         F. Within 120 days after the end of each calendar year, or as soon
thereafter as possible, Landlord shall furnish to Tenant an operating statement
for the preceding years and an appropriate cash adjustment shall be made between
Landlord and Tenant to reflect any differences between payments made based upon
the estimated costs and actual costs. Provided, further, however, that if within
a calendar year there shall be collective increases in the taxes or operating
expenses which exceeds ten (1096) percent of the estimated budget, the Landlord
may, at its option, adjust the budget for the remaining portion of the year to
reflect such change so as to more accurately reflect costs and prevent a large
variance between the estimated budget and actual expenses paid.

         G. Review of Records. Tenant, at his expense, shall have the right,
during reasonable business hours, upon giving reasonable notice, to review
Landlord's books and records relating to any increased or additional costs
payable hereunder for the preceding year or Landlord may, at his option, provide
a report prepared by a certified public accountant, which report shall be
conclusive.

         H. Tenant shall be responsible for all government sales or use taxes or
other charges which may be imposed on the privilege of leasing the Leased
Premises to Tenant.

                        ARTICLE III - LANDLORD'S SERVICES

         3.1. Landlord shall furnish Tenant, subject to the terms and
obligations of this Lease, and Tenant's performance of its obligations
hereunder, the following services:

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         A. Maintenance of the ventilation and air-conditioning system serving
the COMMON AREAS of Premises. Tenant is responsible for the cost and expenses of
ventilation air-conditioning system and other electric usage in Leased
Premises.

         B. Running water at those COMMON AREAS points of supply, if any,
provided for lavatory and drinking purposes only.

         C. Janitorial service in and about the building and the Leased Premises
five (5) days per week.

         D. Elevators for ingress and egress from the Leased Premises and
authorized entry to the building twenty-four (24) hours a day, seven (7) days a
week.

         E. Electricity for all COMMON AREAS and to the leased premises.

         F. Replacement of fluorescent lamps in building, standard light
fixtures installed by Landlord and incandescent bulb replacement in all COMMON
AREAS.

         3.2. Failure by Landlord to any extent to furnish such services or any
cessation thereof shall not render Landlord liable in any respect for damages of
any nature. Should any such services be interrupted, Landlord shall use
reasonable diligence to restore same promptly, but Tenant shall have no claim
for rebate of rent or damages, or constructive eviction, or breach of lease, on
account thereof.*

         3.3. Tenant shall pay Landlord for any electric services utilized by
Tenant. Tenant understands that all utilities supplied to the Leased Premises
are billed to the Landlord and Tenant's estimated share thereof has been
included in the CAM estimate on the Face Sheet.

                      ARTICLE IV - PREPARATION OF PREMISES

         4.1. In the event renovations and/or alterations are to be made to the
Leased Premises to suit Tenant's needs, Landlord shall make those improvements
for Tenant's occupancy in accordance with agreed upon plans and specifications
between Landlord and Tenant. All facilities, material and work, if any, shall be
furnished by Landlord at Tenant's expense by or for the account of Tenant unless
otherwise agreed to. No construction, whether or not to be paid for by Landlord
or Tenant, shall commence without Landlord's specific written advance approval
nor shall Tenant contract with any other party for improvements, alterations or
modifications of the Leased Premises without such approval by Landlord.

         4.2. In the event any such construction or renovations shall have been
substantially completed, notwithstanding the fact the minor or insubstantial
details of construction remain to be performed, by the non-compliance of which
does not materially interfere with Tenant's use of the premises, it is expressly
understood that the correction, completion or adjustment of said construction,
whether or not to be performed by Landlord, do not constitute a valid reason for
withholding any rent and shall not constitute a breach of

*Notwithstanding anything contained herein to the contrary, in the event the
 services are interrupted as a result of Landlord's negligence, and such
 interruption shall continue for more than forty-eight (48) consecutive hours,
 then Tenant's rent shall thereafter be abated until such time as such services
 or utilities are restored or Tenant begins using the Premises again, whichever
 shall first occur.

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lease or otherwise give rise to any cause of action or defense for non-payment
of any obligations hereunder.

         4.3. If the substantial completion of the work required by Landlord
shall be delayed due to any act or omission of or attributable to Tenant, then
the Leased Premises shall be deemed ready for occupancy on the date they would
have been ready but for such delay, and all rental and other payments due by
Tenant hereunder shall commence as of such date that substantial completion
would have occurred but for such action or inaction on the part of or
attributable to Tenant.

         4.4. The Tenant acknowledges that the fact that minor or insubstantial
details of construction, mechanical adjustment or decoration may remain to be
performed, the non-completion of said details does not materially interfere
with Tenant's use of the Leased Premises. -

         4.5. Tenant acknowledges that Landlord has not made any representations
or warranties with respect to the condition of the Leased Premises and neither
Landlord nor any assignee of Landlord shall be liable for any latent or patent
defect therein. Landlord hereby assigns to Tenant all warranties made by others
to Landlord with respect to improvements on the Leased Premises and any other
rights it may have against contractors, suppliers or others with respect to
negligence or faulty performance in connection with the construction or repair
of such improvements. The taking of possession of the Leased Premises by Tenant
shall be conclusive evidence that the Leased Premises were in good and
satisfactory condition at the time such possession was taken, except for the
minor or insubstantial details referred to in Section 4.4. of which Tenant shall
give Landlord notice within thirty (30) days after the commencement date,
specifying such details with reasonable particularity.

                       ARTICLE V - REPAIR AND MAINTENANCE

         5.1.* Once the Leased Premises have been accepted by Tenant which
acceptance shall be deemed conclusive upon the earlier of (a) Tenant's
substantial taking of occupancy; (b) Tenant's payment of any lease obligation;
or (c) the accrual of any lease obligations of Tenant, Landlord shall not be
required to make any improvements or repairs or alterations whatsoever to the
Leased Premises, nor shall Landlord bear liability whether to Tenant or any
invites, guest, solicitor, or other third party for any defects, including
latent defects with respect to the Leased Premises.

         5.2. Tenant shall promptly give Landlord written notice of any damage
which has occurred in the Leased Premises. This Section shall not apply in the
case of damage or destruction by fire or other casualty, which event is covered
elsewhere in this Lease.

                       ARTICLE VI - TENANT CARE AND REPAIR

         6.1. Tenant shall maintain the Leased Premises in a clean, attractive
condition and shall be responsible for all repairs, both to the interior and
exterior, structural or non-structural, ordinary or extraordinary which may be
necessary or proper within the Leased Premises for the lease term.

*Except for (i) Landlord's obligations set forth in the Work Letter attached to
 this Lease as Exhibit "C", which are to be performed prior to Tenant's
 occupancy and (ii) Landlord's service and maintenance obligations under Article
 III,

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                           ARTICLE VII - LATE PAYMENT

         7.1. Payments by Tenant. Tenant agrees to timely pay all obligations
hereunder at the times and in the manner herein provided and to occupy at all
times the Leased Premises. Any rent or other payment due hereunder which is not
paid within five (5) days of the due date shall cause the automatic imposition
of a late charge equal to either the maximum interest avowed by the laws of the
State of Florida on any principal balance, or Ten and 00/100 ($10.00) Dollars
per day, whichever is greater, said late charge shall be deemed additional rent
and shall be paid with the late payment.

                          ARTICLE: VIII - HOLDING OVER

         8.1. Subject to any other provisions of this Lease, if Tenant should
remain in possession of the Leased Premises after the termination or expiration
of the term and/or any renewal hereof and without the execution by Landlord and
Tenant of a New Lease, then Tenant shall be deemed to be occupying the Leased
Premises as a tenant at sufferance, subject to all the covenants and Obligations
of this Lease and at a daily rental of twice the per day rental in effect
immediately prior to such expiration or termination, computed on the basis of a
thirty ( 30) day month, but such holding over shall not be deemed an extension
or the lease term.

              ARTICLE IX - ALTERATIONS, ADDITIONS AND IMPROVEMENTS

         9.1. All of Tenant's fixtures and non-movable office furniture and
equipment attached to the bull ding shall remain the property of the Landlord at
the expiration of the lease term, and Tenant shall promptly repair all damage
caused by removal of any property by Tenant. All property on the Leased Premises
in the nature of trade fixtures and any alteration or addition to the Leased
Premises (including but not limited to wall-to-wall carpeting, drywall
partitions, paneling or other wall covering) and any other article attached or
affixed to the floor, wall or ceiling of the Leased Premises shall become the
property of Landlord and shall be surrendered with the Leased Premises as part
thereof at the termination of this Lease, without payment or compensation
therefor. If, however, Landlord so requests in writing, Tenant will, prior to
vacating the premises upon the termination or expiration of this Lease, remove
any or all alterations, additions, fixtures, equipment and property placed or
installed by it in the Leased Premises and will repair any damage caused by such
removal. Any property of Tenant not removed within five (5) days after
expiration or other termination of this Lease shall be deemed the property of
Landlord and Landlord shall have no duty of any nature to Tenant with respect to
any such property remaining on the Leased Premises regardless of the value, use,
importance, type, quality or quantity of the property and/or its importance to
Tenant or anyone else.

         9.2. Tenant shall not have the right to make any alterations or
improvements to the Leased Premises or any part thereof. However, Landlord shall
agree to alterations if each of the following conditions are met:

         (a) All plans and specifications for the proposed alteration or
improvement must be submitted to the Landlord for his prior written approval.

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         (b) All such alterations or improvements shall be performed by Landlord
at Tenant's expense in accordance with a separate agreement or at Landlord's
discretion any such improvements or alterations by Tenant shall be done at
Tenant's expense, by a licensed contractor approved by Landlord. If requested by
Landlord, Tenant will post a bond or other security reasonably satisfactory to
Landlord to protect Landlord against liens arising from work performed by
Tenant.

         (c) No alteration or improvement shall be undertaken until Tenant shall
have procured all permits, licenses and other authorizations, if any, required
for the lawful and proper undertaking thereof. Landlord agrees to join in the
application for such permission or authorization whenever such action is
necessary.

         (d) Landlord will complete the Leased Premises substantially in
accordance with the plans and specifications to be approved by both Tenant and
Landlord. In the event the cost of improvements or finishing Leased Premises
exceeds the Landlord's allowance for same, the cost in excess of such allowance
will be paid in advance by the Tenant, the amount of such advance payment to be
determined on the basis of Landlord's estimate of the total cost of finishing
the Leased Premises, such estimates to be based on the aforementioned plans and
specifications. Cost will include but not be limited to direct and indirect
construction cost, permit fees, architectural fees, applicable insurance
premiums, and any other cost directly attributable to finishing the Leased
Premises. Any advance payment received by Landlord from Tenant in excess of
Tenant's portion of the cost of finishing the Leased Premises will be refunded
to Tenant by Landlord after a final accounting of the total cost of said Leased
Premises is completed by Landlord, but in any event, not later than ninety (90)
days after occupancy of the Leased Premises by Tenant.

         (e) Landlord makes no representations or warranties as to the
sufficiency of the plans and specifications to meet the requirements of Tenant's
business. Prior to or during Landlord's construction activities, the parties may
agree upon changes in the plans and specifications. If any change in the plans
or specifications increases the cost of work or materials or the time required
for completion of construction, Tenant shall reimburse Landlord for such
increase in cost at the time the increased cost is incurred and shall reimburse
Landlord for any loss in rent at the time the rent would have become due.

         (f) Landlord shall not be responsible for any loss for Tenant
improvements at any time.

         (g) Tenant, its employees, contractors, agent and invitees shall not
have any claim against Landlord for any bodily injury or property damage arising
during or from construction activities.

         (h) All alterations and improvements when completed shall be of such a
nature as not to reduce or otherwise adversely affect the value of the Leased
Premises, nor to diminish the general utility or change the general character
thereof.

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                     ARTICLE X - ASSIGNMENT AND SUBLETTING

         10.1. Tenant shall not, whether voluntarily, involuntarily, or by
operation of law, or otherwise: (a) assign or otherwise transfer this Lease or
the terms and estate hereby granted, or offer or advertise to do so; or (b)
mortgage, encumber, or otherwise hypothecate this Lease or the Leased Premises
or any part thereof in any manner whatsoever, without in each instance obtaining
the prior written consent of Landlord, which consent shall not be unreasonably
withheld or delayed.

         10.2. In addition to any other reasonable basis, Landlord shall be
deemed to be reasonably withholding its consent to any such assignments, letting
or subletting, if such assignment, letting or subletting would result in the
assignment, leasing or subleasing of,

         (a) the Leased Premises to any party, business or tenant who proposed
to conduct a business therein which is not in conformance with the provisions of
paragraph 2 hereof; or

         (b) less than the whole of the Leased Premises, or for a term less than
the whole of the term which remains hereunder; or

         (c) the Leased Premises to any party, business or tenant who is then a
tenant of the project if the Landlord has or will have during the ensuing six
(6) months suitable space for rent in the building; or

         (d) the Leased Premises at a rental rate less than the then current
market rate for comparable premises in the building; and

         (e) the Leased Premises to a party whose financial condition and credit
rating in Landlord's sole judgment is not equal to or better than that of
Tenant's; or

         (f ) the Leased Premises to a party whose business is of a character
which does not, in Landlord's sole opinion, conform with the character of the
Building.

         10.3. The provisions of this Section shall apply to a transfer of a
majority of the stock of Tenant as if such transfer were an assignment of this
Lease; but said provisions shall not apply to transactions with a corporation
into or with which Tenant is merged or consolidated or to which substantially
all of Tenant's assets are transferred or to any corporation which controls or
which is controlled by Tenant, or is under common control of Tenant, provided in
any of such events: (a) the successor to Tenant has a net worth computed in
accordance with generally accepted accounting principles at least equal to the
greater of (i) the net worth of Tenant immediately prior to such merger,
consolidated or transfer of (ii) the net worth of Tenant herein named on the
date of this Lease; and (b) proof satisfactory to Landlord of such net worth
shall have been delivered to Landlord at least ten (10) days prior to the
effective date of any such transaction.

         10.4. Further, the Landlord may consent to the sublease of all or any
part of the Leased Premises provided the Tenant enters into a sublease
containing the same terms and

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conditions contained herein (exclusive of rent) and the Landlord shall receive
one-half (1/2) of the difference between any higher rent paid by a subtenant and
the rent paid by Tenant.

         10.5. Any assignment agreed to by Landlord shall be evidenced by a
validly executed assignment and assumption of lease. Any attempted transfer,
assignment, subletting, mortgaging or encumbering of this Lease in violation of
this Section shall be void and confer no rights upon any third person. Such
attempt shall constitute a material breach of this Lease and entitle Landlord to
the remedies provided for default.

         10.6. If without such prior written consent, this Lease is transferred
or assigned by Tenant, or if the Leased Premises, or any part thereof, are
sublet or occupied by anybody other than Tenant, whether as a result of any act
or omission by Tenant, or by operation of law or otherwise, Landlord, whether
before or after the occurrence of an event of default may, in addition to, and
not in diminution of or substitution for, any other rights and remedies under
this Lease or pursuant to law to which Landlord may be entitled as a result
thereof, collect rent from the transferred, assignee, subtenant or occupant and
apply the net amount collected to the rent herein, reserved.

         10.7. Tenant shall always, and notwithstanding any such assignment or
subleasing, and notwithstanding the acceptance of rent by Landlord from any
such assignee or subtenant, remain liable for the payment of rent hereunder and
for the performance of all of the agreements, conditions, covenants and terms
herein contained, on the part of Tenant herein to be kept, observed, or
performed, his liability to always be that of principal and not of surety, nor
shall the giving of such consent to an assignment or sublease, be deemed a
complete performance of the said covenants contained in this Article so as to
permit any subsequent assignment or subleasing without the like written consent.

         10.8. Notwithstanding the foregoing, where Tenant desires to assign or
sublease, the Landlord shall have the right, but not the obligation, to cancel
and terminate the Lease and deal with Tenant's prospective assignees or
subtenant directly without any obligation to Tenant.

         10.9. The Landlord shall have the right to sell, mortgage or otherwise
encumber or dispose of Landlord's interest in the building and Leased Premises
and this Lease without Tenant's prior consent, but subject to non-disturbance of
Tenant's possession, and all other Tenant's rights hereunder.

                       ARTICLE XI - RULES AND REGULATIONS

         11.1. Tenant, its agents, employees, guests and invitees, shall comply
with all Rules and Regulations promulgated by Landlord from time to time with
respect to use of both the Leased Premises and the Common Areas. Tenant
acknowledges receipt of the existing Rules and Regulations which are
incorporated into this Lease as if set forth herein as additional obligations of
Tenant.

         11.2. Without notice and without liability to Tenant, Landlord shall
have the right to:

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         A. Change the name or street address of the building

         B. Install and maintain signs on the exterior of the building.

         C. Make reasonable rules and regulations as, in the judgment of
Landlord, may from time to time be needed for the safety of the tenants, the
care and cleanliness of the building and the preservation of good order therein.
Tenant shall be notified in writing when each such rule and regulation is
promulgated.

         D. Grant utility easements or other easements to such parties, or
replat, subdivide or make such other changes in the legal status of the land
underlying the building, as Landlord shall deem necessary, provided such grant
or changes do not substantially interfere with Tenant's use of the Leased
Premises as intended under this Lease.

         E. Sell the building and assign this Lease and the deposit to the
purchaser (and upon such assignment to be released from all of its obligations
under this Lease). Tenant agrees both to attorn to such purchaser, or any other
successor or assign of Landlord through foreclosure, deed in lieu of
foreclosure, or otherwise, and to recognize such person as the Landlord under
this Lease' provided Tenant's possession pursuant to this Lease shall remain
non-disturbed.

                             ARTICLE XII- RELOCATION

         12.1. If Landlord determines to utilize the Leased Premises for other
purposes during the term, Tenant agrees to relocate to other space in the
building designated by Landlord, provided such other space is of equal or larger
size than the Leased Premises, and with no increase in Base Rent or Additional
Rent. Landlord shall pay all out-of-pocket expenses of any such relocation,
including the expenses of moving and reconstruction of all Tenant furnished and
Landlord furnished improvements. In the event of such relocation, this Lease
shall continue in full force and effect without any change in the terms or other
conditions, but with the new locations substituted for the old location.

                 ARTICLE XIII - FLOOR LOADS, NOISE AND VIBRATION

         13.1. Tenant shall not place a load upon any floor of the Leased
Premises which exceeds the load per square foot which such floor was designed to
carry or which is allowed by law. Business machines and mechanical equipment
belonging to Tenant, which cause noise or vibrations that may be transmitted to
the structure of the building or to the Leased Premises to such a degree as to
be objectionable by Landlord shall, at the Tenant's expense, be placed and
maintained by Tenant in settings of cork, rubber or spring-type vibration
eliminators sufficient to eliminate such noise or vibration.

                        ARTICLE XIV - TENANtS INSURANCE

         14.1. Tenant shall, at its sole cost and expense, provide and maintain
during the entire term of this Lease or any extension or renewal thereof,
liability insurance in the single limit of One Million and no/100
($1,000,000.00) Dollars for individual injury and Three Million and no/100
($3,000,000.00) Dollars if injury or death to more than one person, hazard

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insurance with similar coverages to liability insurance, workmen's compensation
insurance in sufficient statutory amounts, and plate glass insurance with
respect to any windows located in the Leased Premises. The original of each such
policy of insurance or certified duplicate thereof issued by the insurance or
insuring organization shall be delivered by Tenant to Landlord on or before ten
(10) days prior to occupancy of the Leased Premises by Tenant and shall list the
Landlord as co-insured for notice purposes. Tenant shall have no interest of any
nature in any insurance policy obtained by Landlord with respect to the Leased
Premises.

                 ARTICLE XV - NON-LIABILITY AND INDEMNIFICATION

         l5.1. Neither Landlord nor any beneficiary, agent, servant, or employee
of Landlord, nor any superior lessor nor any superior mortgagee, shall be liable
to Tenant for any loss, injury, or damage to Tenant or to any other person, or
to its or their property, irrespective of the cause of such injury, damage or
loss, unless caused by or resulting from the negligence of Landlord, his agents,
servants or employees in the operation or maintenance of the Leased Premises or
the building, subject to the doctrine of comparative negligence in the event of
contributory negligence on the part of Tenant or any of its subtenants or
licensees or its or their employees, agents or contractors. Tenant recognizes
that any superior mortgagee will not be liable to Tenant for injury, damage, or
loss either caused by, or resulting from the negligence of the Landlord.
Further, neither Landlord, any superior lessor or superior mortgagee, nor any
partner, director, officer, agent, servant, or employee of Landlord shall be
liable: (a) for any such damage caused by other tenants or persons in, upon or
about the building, or caused by operations in constrution of any private,
public or quasi-public work; or (b) even if negligent, for consequential damages
arising out of any loss of use of the Leased Premises or any equipment or
facilities therein by Tenant or any person claiming through or under Tenant.

         15.2. The obligations of Landlord under this Lease do not constitute
personal obligations of the individual partners, directors, officers or
shareholders of Landlord, and Tenant shall look solely to the real estate that
is the subject of this Lease and to no other assets of the Landlord for
satisfaction of any liability in respect of this Lease and will not seek
recourse against the individual partners, directors, officers or shareholders of
Landlord or any of their personal assets for such satisfaction.

         15.3. The obligations of Tenant hereunder shall not be affected,
impaired or excused, nor shall Landlord have any liability whatsoever to Tenant,
because: (a) Landlord is unable to fulfill, or is delayed in fulfilling any of
his obligations under this Lease by reason of strike, other labor trouble,
governmental pre-emption of priorities or other controls in connection with a
national or other public emergency or shortages of fuel, supplies, labor or
materials, Act of God or any other cause whether similar or dissimilar.

         15.4. The Tenant covenants and agrees with Landlord that during the
entire term of this Lease the Tenant will indemnify and save harmless the
Landlord against any and all claims, debts, demands or obligations which may be
made against the Landlord or against the Landlord's title in the premises
arising by reason of any negligent acts or omissions of the Tenant, its
officers, agents or employees in occupying the premises-, and if it becomes

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necessary for the Landlord to defend any action seeking to impose any such
liability, the Tenant will pay the Landlord all costs of court and reasonable
attorneys' fees, including appellate fees and costs to defend any claim even in
the absence of litigation, in addition to any other sums which said Landlord may
be called upon to pay by reason of a judgment or decree against the Landlord in
the litigation or other form of claim presentation in which such claim is
asserted.

         15.5. Landlord shall not be liable for any damage to Tenant's property
caused by water from bursting or leaking pipes, waste water about the rented
property, or otherwise; or from an intentional or negligent act of any co-tenant
or occupant of the property surrounding the rented property, or other person, or
by fire, hurricane or other Acts of God; or by riots or vandals; or from any
other cause; all such risks shall be assumed by the Tenant.

          ARTICLE XVI- DESTRUCTION OR DAMAGE BY FIRE OR OTHER CASUALTY

         16.1. (a) In the event of a fire or other casualty in the Leased
Premises, Tenant shall immediately give notice thereof to Landlord. If the
Leased Premises shall be partially destroyed by fire, eminent domain, or other
casualty so as to render the Leased Premises untenantable in whole or in part,
the rental provided for herein shall abate as to the portion of the Leased
Premises rendered untenantable until such times as the Leased Premises are made
tenantable as determined by Landlord, and Landlord agrees to commence and
complete such repair work promptly and with reasonable diligence. In the event
of total or substantial damage or destruction of the building where Landlord
decides not to rebuild, then all rent owed up to the date of such damage or
destruction shall be paid by Tenant and this Lease shall terminate upon notice
thereof to Tenant. Landlord shall give Tenant written notice of its decisions,
estimates or elections under this Article within sixty (60) days after any such
damage or destruction is reported.* Substantial damage or destruction shall be
deemed to exist if the cost of restoration exceeds thirty-five (35%) percent of
the replacement value. The foregoing shall not apply to any casualty damage
caused in whole or in part by the negligence of Tenant, its agents, employees or
invitees.

         16.1. (b) Should Landlord elect to effect any repairs under this Lease,
Landlord shall only be obligated to restore or rebuild the Leased Premises to a
building standard condition, and then only to the extent that insurance proceeds
are available to Landlord therefor. In the event that the insurance proceeds
available to Landlord are insufficient to re-construct the Leased Premises to a
condition substantially comparable to that which existed prior to the casualty,
then the Tenant shall have the right to terminate this Lease upon written notice
to Landlord.

                         ARTICLE XVII - EMINENT DOMAIN

         17.1. If the Leased Premises, building, or any part thereof, other than
parking, shall be taken by eminent domain so as to render the Leased Premises
untenantable, then this Lease shall terminate, and all proceeds from any taking
or condemnation, including leasehold value, shall belong to and be paid to
Landlord, Tenant specifically waiving any rights to any eminent domain proceeds.

*In the event Landlord elects not to rebuild or notice of Landlord's decision is
 not given to Tenant within the sixty (60) day period, then Tenant shall have
 the option to terminate this Lease.

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                             ARTICLE XVIII - SIGNS

         18.1. No signs, symbols, awnings, canopies, advertising or identifying
marks of any kind shall be placed by or on behalf of Tenant anywhere on the
Leased Premises or Common Areas without written approval of Landlord. Landlord
agrees to provide and install, at Tenant's cost, all letters or numerals on the
doors in the Leased Premises. `All such letters and numerals shall be in the
building standard graphics.

                             ARTICLE XIX - DEFAULT

         19.1. Each of the following shall be deemed a default by the Tenant and
a breach of this Lease: creditors.

         (a) The filing of a petition by or against the Tenant for adjudication
as a bankrupt under the Bankruptcy Code, as now or hereinafter amended or
supplemented or for reorganization or arrangement within the meaning of any
chapter of said Bankruptcy Code; the dissolution of or the commencement of any
action or proceeding for the dissolution or liquidation of the Tenant, whether
voluntary or involuntary; the appointment of a receiver or trustee of the
property of the Tenant.

         (b) The taking of possession of the premises or property of the Tenant
upon the premises by any governmental officer or agency pursuant to any
statutory authority for any purpose.

         (c) The making by the Tenant of any assignment for the benefit of

         (d) A failure by Tenant to pay any sums due under this Lease after
three (3) days written notice to Tenant.

         (e) The failure of Tenant at any time and from time to time to execute
and deliver to the Landlord a statement certifying that this Lease is unmodified
and in full force and effect (or if there have been modifications, that the same
are in full force and effect as modified and stating the modifications),
certifying the dates to which the rent has been paid, stating whether or not,
the other party is in default in performance of any of its obligations under
this Lease and, if so, specifying each such default and stating whether or not,
any event has occurred which with the giving of notice or passage of time or
both, would constitute such a default, and, if so, specifying each such event.
Any such statement delivered pursuant hereto shall be deemed a representation
and warranty to be relied upon by the party requesting the certificate and by
others with whom such party may be dealing, regardless of independent
investigation. Tenant also shall include in any such statements such other
information concerning this Lease as Landlord may reasonably request.

         (f) Failure of the Tenant to execute any document required by Landlord
in connection with the sale or transfer thereof of Landlord's interest in filing
estoppel letters, consents, subordinations, agreements or other stock documents
provided same will not alter or interfere with Tenant's use of the premises.

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         (g) Tenant's failure to perform any other covenant or condition of this
Lease for a period of ten (10) days after written notice to perform.

                  (i) No failure on the part of the Tenant in the performance of
contractual work required to be performed or acts to be done on conditions to be
modified shall be deemed to exist if steps shall have, in good faith, been
commenced properly by the Tenant to rectify the same and shall be prosecuted to
completion with diligence and continuity.

                  (ii) In the event of any default of the Tenant, Landlord may
serve written notice on Tenant that the Landlord elects to terminate this Lease
upon a specified date not less than ten (10) days after the date of service,
except in the case of a default for non-payment of monies due and owing for
which a three (3) day notice is appropriate.

                  (iii) In the event this Lease shall suffer early termination
as hereinbefore provided, or in the event the Leased Premises or any part
thereof shall be abandoned by the Tenant, the Landlord may, at its option,
re-enter and resume possession of said premises or such part hereof, for the
account of the Tenant, and remove all persons and property therefrom by a
suitable action or proceeding at law, without being liable for any damages
therefor. Moving out of the premises or leaving the premises vacant shall not be
deemed an abandonment of the premises, provided that Tenant continues to comply
with its Lease obligations. No re-entry by the Landlord shall be deemed an
acceptance of the premises for Landlord's benefit or a surrender of this Lease,
nor shall any such re-entry interfere with Landlord's right to accelerate all
unpaid rentals as set forth in this Lease.

         (h) The allowance of any lien for services and/or labor and/or
equipment and/or property of any kind to be filed by any party against the
building or Leased Premises, and Tenant's failure within ten (10) days following
actual knowledge of same to cure, satisfy or adequately bond such lien so as to
free Landlord and the building or any part thereof from any liability or
potential liability in connection therewith.

         19.2. In the event this Lease is terminated by the default or
abandonment or any fault thereof of the Tenant, the entire amount of the unpaid
balance of rent for the term shall be deemed accelerated and shall be due and
payable immediately. Tenant grants Landlord a security interest in all property
on the Leased Premises as security for the payment of all obligations under this
Lease.

         19.3. Notwithstanding any language herein or any other agreements
between Landlord and Tenant in the event of default by Tenant of any obligation
hereunder, any changes, obligation or rentals waived by Landlord as and for a
rental concession shall be deemed immediately due and payable as if no such
concession had ever existed. Tenant's maintenance of all obligations of any
nature hereunder shall be deemed a condition subsequent to Landlord's obligation
to honor any rental concessions.

         19.4. If Landlord, at his option, shall relet the Leased Premises
during said period, Landlord shall credit Tenant with the net rents received by
Landlord from such reletting, such net rents to be determined by first deducting
from the gross rents, as and when

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received by Landlord, the expenses incurred or paid by Landlord in terminating
this lease and/or re-entering the Leased Premises and in securing possession
thereof, as well as the expenses of reletting, including, without limitation,
the alteration and preparation of the Leased Premises for new Tenants, brokers'
commissions, attorneys' fees, and all other expenses properly chargeable against
the Leased Premises and the rental therefrom. It is hereby understood that any
such reletting may be for a period shorter or longer than the remaining term of
this Lease but in no event shall Tenant be entitled to receive any excess of
such net rents over the sum payable by Tenant to Landlord hereunder, nor shall
Tenant be entitled in any suit for the collection of damages pursuant hereto to
a credit in respect of any net rents from a reletting, except to the extent that
such net rents are actually received by Landlord.

         19.5. All of Landlord's remedies of any nature shall be deemed
cumulative, and Landlord shall have such other and further remedies available to
him as provided by law.

         19.6. Landlord shall not be liable to Tenant for breach of this Lease
for any sums in excess of Tenant's leasehold interest.

         19.7. Tenant shall not record this Lease in the Public Records of any
County wherein the Leased Premises are located.

         19.8. No receipt and retention by Landlord of any payment tendered by
Tenant in connection with this Lease will give rise to or support or constitute
an accord and satisfaction, notwithstanding any accompanying statement,
instruction or other assertion to the contrary (whether by notation on a check
or in a transmittal letter or otherwise), unless Landlord expressly agrees to an
accord and satisfaction in a separate writing duly executed by the appropriate
persons. Landlord may receive and retain absolutely and for itself, any and all
payments so tendered notwithstanding any accompanying instructions by Tenant to
the contrary. Landlord will be entitled to treat any such payments being
received on account of any item or items of rent interest, expense or damage due
in connection herewith, in such amounts and in such order as Landlord may
determine at its sole option.

         19.9. No assent or consent to change in or waiver of any part of this
Agreement shall be deemed or taken as made, unless the same be done in writing
and attached hereon and endorsed by the Landlord. No covenant or term of this
Lease stipulated in favor of the Landlord shall be waived, except by express
written consent of the Landlord, whose forebearance or indulgence in any regard
whatsoever shall not constitute a waiver of the convenant, term or condition to
be performed by the Tenant; and until complete performance by the Tenant of the
said covenant, term or condition, the Landlord shall be entitled to invoke any
remedies available under this Lease or by law despite such forebearance or
indulgence.

                           ARTICLE XX - SUBORDINATION

         20.1. This Lease, its terms, conditions and all leasehold interests and
rights hereunder are expressly made, given and granted subject and subordinate
to the lien of any bona fide first mortgage which the Landlord may secure, and
Tenant agrees to execute any instruments required by the mortgagee to effect any
subordination.

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                        ARTICLE XXI - ACCESS BY LANDLORD

         21.1. Tenant shall permit Landlord or its agents or representatives to
enter into and upon any part of the Leased Premises at all reasonable hours to
inspect same; to clean; to make repairs, alterations or additions thereto as
Landlord may deem necessary or desireable, and to accomplish any of the
foregoing at any time in the event of emergency; to show the Leased Premises to
perspective purchasers or tenants, or for any other purpose deemed reasonable by
Landlord.

                      ARTICLE XXII - LAWFUL USE OF PREMISES

         22.1. Tenant further covenants and agrees that said Leased Premises and
all improvements thereon during the term of this Lease shall be used only and
exclusively for lawful purposes; and that said Tenant will not knowingly use or
offer anyone to use said premises or building for any purpose in violation of
the laws of the United States, the State of Florida, the County of Palm Beach,
or any other governmental unit wherein the premises may be located.

                         ARTICLE XIII - QUIET ENJOYMENT

         23.1. Landlord covenants that so long as Tenant maintains all
obligations under this Lease, Tenant shall have the right to quietly enjoy and
use the Leased Premises for the term hereof, subject only to the provisions of
this Lease.

         ARTICLE XXIV - TENANT FORBIDDEN TO ENCUMBER LANDLORD'S INTEREST

         24.1. It is expressly agreed and understood between the parties hereto,
that nothing in this Lease contained shall be construed as empowering the Tenant
to encumber or cause to be encumbered the title or interest of Landlord in the
Leased Premises in any manner whatsoever. In the event that anyone claiming by,
through or under the Tenant shall file a lien against Landlord's interest, the
Tenant within ten (10) days after being notified thereof, shall effect a
discharge of the property from the encumbrances of said lien by the posting of a
bond or other security as prescribed by law or by either payment of the lien or
an order of court having jurisdiction discharging such lien. If Landlord must
take the necessary steps to discharge or render same unenforceable, whether by
litigation or notice to lienor of the lien invalidity, Tenant shall pay all
costs in connection therewith including reasonable attorneys' fees.

                          ARTICLE XXV - APPLICABLE LAW

         25.1. This Lease shall be construed under the laws of the State of
Florida, and venue for any action in connection with the enforcement or
interpretation of this Lease shall be Palm Beach County, Florida. Tenant waves
the right to a trial by jury on any issue so triable.

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                  ARTICLE XXVI- REPRESENTATIONS AND AGREEMENTS

         26.1. Tenant expressly acknowledges and agrees that Landlord has not
made any warranties, representations, promises or statements, except to the
extent that the same are expressly set forth in the Lease and that this Lease
alone fully and completely expresses the parties' agreement.

                          ARTICLE XXVII- FORCE MAJEUR

         27.1. Anything in this Lease to the contrary notwithstanding, Landlord
shall not be deemed in default with respect to the performance of any of the
terms, covenants and conditions of this Lease if same shall be due to any other
cause of any nature beyond Landlord's control, including, but not limited to:
strike, lockout, civil commotion, war-like operations invasion, rebellion,
hostilities, military or usurped power, sabotage, government regulations or
controls, inability to obtain any material, service or financing, or through an
Act of God.

  ARTICLE XXVIII - RELATIONSHIP OF THE PARTIES: TENANT'S OBLIGATION RE: LICENSE

         28.1. Nothing contained in this Lease shall be deemed or construed to
create any relationship between the parties other than that of Landlord and
Tenant.

         28.2. Tenant shall be solely and exclusively obligated to obtain and
maintain any and all occupational licenses, professional license and other
licenses, if any, and related certificates of authority to lawfully conduct its
business.

                           ARTICLE XXIX - PLATE GLASS

         29.1. The replacement of any glass and/or plate glass damaged or broken
from any cause whatsoever in the Leased Premises shall be Tenant's
responsibility.

              ARTICLE XXX - PROVISIONS RELATING TO INTERPRETATION

         30.1. Article, paragraph and section titles to this Lease are intended
only for convenience and for ease of reference, and in no way do such titles
define, limit or in any way affect this Lease or the meaning or contents of any
material contained herein.

                            ARTICLE XXXI - BROKERAGE

         31.1. Tenant covenants, warrants and represents to Landlord that Tenant
has not dealt with any real estate brokers or salesmen in the finding,
negotiation or execution of this Lease unless specifically set forth in writing
on the Face Page of this Lease. Tenant hereby indemnifies Landlord for any
claims, costs or damages arising from any breach of the foregoing covenant,
warranty and representations.

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                 ARTICLE XXXII - RECOVERY OF LITIGATION EXPENSE

         32.1. In the event of any litigation or other dispute arising out of
the terms of this Lease of Tenant's use of the leasehold property or Common
Areas between the Landlord and Tenant, the prevailing party shall recover from
the other costs and expenses including' but not limited to, reasonable
attorneys' fees, including any appellate fees, whether or not litigation is
instituted.

                            ARTICLE XXXIII - NOTICES

         33.1. Any notices required by the law and this Lease shall be in
writing, and the same shall be served by certified mail, return receipt
requested, in postage prepaid envelopes addressed to the following addressees or
such other addressees as may be designated in writing:

AS TO LANDLORD:

                  Schever International Plaza, Inc.
                  7280 W. Palmetto Park Road -- Suite 201-N
                  Boca Raton, FL 33433

with a copy to:

                  Tikal & Associates
                  178 St. George Street
                  Toronto, Canada M5R2~2

AS TO TENANT:

                  Mr. Michael Jabobs
                  Mr. Alan Jacobs
                  GLOBALNET FINANCIAL.COM, INC.
                  7284 W. Palmetto Park Road
                  Suite 210-S
                  Boca Raton, FL 33433

ARTICLE XXXIV - MISCELLANEOUS ENTIRE AGREEMENT BINDING EFFECT AND SEVERABILITY

         34.1. This Lease shall constitute the entire agreement between Landlord
and Tenant; any and all prior written or prior to contemporaneous oral promises
or

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representations shall be deemed merged herein and superseded by the terms
hereof. This Lease shall not be amended, changed or extended except by written
instrument signed by both parties. The provisions of this Lease shall be binding
upon and inure to the benefit of the heirs, executors, administrators,
successors and assigns of the parties, but this provision shall in no way alter
the restrictions on assignment and subletting applicable to Tenant hereunder.
This Lease shall not be deemed terminated in the event of Tenant's demise. If
any provision of this Lease shall be held invalid or unenforceable, the
remainder of this Lease shall not be affected thereby. Whenever the contract so
requires the use of any gender, it shall be deemed to include all genders and
the use of the plural shall include the singular and the use of the singular
shall include the plural.

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

WITNESS:                                 SCHEVER, INTERNATIONAL PLAZA, INC.

            [ILLEGIBLE]                  By:           [ILLEGIBLE]
-----------------------------------         -----------------------------------

            [ILLEGIBLE]
-----------------------------------

WITNESS:                                 GLOBALNET FINANCIAL.COM, INC.

            [ILLEGIBLE]                  By:           [ILLEGIBLE]
-----------------------------------         -----------------------------------

            [ILLEGIBLE]
-----------------------------------

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                             RULES AND REGULATIONS

                                       OF

                          SCHEVER INTERNATIONAL PLAZA

         "TENANT" shall refer to the TENANT, its agents, employees, invitees,
licensees or guests.

         1. OBSTRUCTION OF COMMON AREAS: The COMMON AREAS, as defined in the
TENANT'S Lease, shall not be obstructed in any manner by the TENANT or used for
any purpose other than ingress and egress to and from the demised premises. Any
walls, partitions, skylights, windows, doors or transoms that reflect or admit
light into the passageways or into any other part of the COMMON AREAS, shall not
be covered or obstructed by any TENANT. No garbage cans, garbage, items for
disposal, supplies, or other articles shall be placed in the COMMON AREAS. All
garbage or other items for disposal shall be placed in the proper receptacles
and never placed in the COMMON AREAS except where specifically designated by
LANDLORD such as in a dumpster or other specifically designated site.

         2. SIGNS AND ADVERTISING: No projections, signs or advertising shall be
attached to either the outside walls of the building or any windows, walls or
doorways without the express prior written consent of the LANDLORD. The TENANT
shall not mar, damage, destroy, deface, drill into, paint, string wire across or
engrave any part of the building, common areas' or appurtenances thereto without
the prior written consent of the LANDLORD. LANDLORD shall provide a directory in
the lobby and, upon request, will provide signage to be placed near the entrance
to the leased premises. It is the intention of the LANDLORD to have uniformity
in the signage placed in, on or around the building and/or the COMMON AREAS.

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         3. KEYS: The LANDLORD shall retain a pass key to TENANT'S premises. No
TENANT shall alter any lock or install a new lock or a knocker on any door of
the demised premises without the express prior written consent of the LANDLORD.
In the event consent is given, the TENANT shall provide the LANDLORD with
additional keys to any new locks. All keys to both the leased premises and other
COMMON AREAS, including but not limited to the bathroom pass keys, storage pass
keys, etc., shall be returned to the LANDLORD at the termination of the Lease.
There shall be a Ten and no/100 ($10.00) Dollar charge per key for each key not
returned to the LANDLORD, which sums may be deducted from TENANT'S security
deposit.

         4. LOITERING: The TENANT shall not allow neither littering nor
loitering in the COMMON AREAS by its agents, employees, or invitees.

         5. NOISES: TENANT shall not make or allow any of its agents, employees
or invitees to make or permit any disturbing noises in the building nor permit
anything that will interfere with the rights, comforts or convenience of other
tenants. This prohibition shall include but not be limited to musical
instruments, radios, talking machines or any other mechanical or human sounds
which can be heard beyond the leased premises.

         6. PETS AND ODORS: No pets or animals of any kind shall be brought
into, kept or harbored in the leased premises or any part of the COMMON AREAS at
any time. No TENANT shall cause or permit any unusual or objectionable odors to
be produced upon or permeate from the leased premises.

         7. EQUIPMENT INSTALLATION AND REMOVAL: TENANT shall be liable for all
damages which may be caused by the taking in, moving or removing of furniture or
other equipment to and from the building. All installations or removal of
equipment or furniture or other bulky matter of any description must take place
during the hours which the

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LANDLORD or its agent may determine from time to time. The manager must be
notified of installations or removals prior to the time of its performance.

         8. ROOF: At no time is the TENANT allowed on the roof or allowed to use
the roof for any purpose whatsoever.

         9. BATHROOMS AND FIXTURES: The bathrooms and other water apparatus
shall not be used for any other purpose than those for which they are
constructed. Damages for misuse shall be borne by the TENANT who, or whose
agents, employees, or invitees shall have caused the damages.

         10. SOLICITATION: There shall be no solicitation, canvassing or
peddling in the buying of the leased premises or any other COMMON AREAS or other
part of the building at any time, and each tenant shall cooperate in preventing
same by any other persons

         11. HOURS OF OPERATION: LANDLORD reserves the right to close the
building after 6:00 PM subject, however, to admittance under regulations
prescribed by the LANDLORD. After normal business hours, persons entering the
building may be required to identify themselves and/or establish their right to
ingress or egress by use of identification card, building entry card or some
such other electronic or mechanical device. In the case of invasion, riot,
public excitement, or other commotion, LANDLORD reserves the right to prevent
any access to the building during the continuance of same. At no time shall
LANDLORD be liable for damages which may arise from either the admission or
exclusion of any person to or from the building.

        12. PARKING: TENANT and all other occupants of the building shall have
access to the parking area through common driveways. The common parking areas
EXCLUSIVE OF RESERVED PARKING are non-exclusive and available to all tenants and
their employees, licensees and guests. LANDLORD may at any time, designate for

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TENANT'S use reasonable parking space in the COMMON AREAS, provided that the
total number of parking spaces is not reduced. No commercial or recreational
vehicles shall be parked on the premises except those vehicles parked on a
temporary basis while delivering, repairing or servicing the building and/or the
TENANTS.

         13. DANGEROUS SUBSTANCES AND MACHINERY: No TENANT nor any of TENANT'S
agents, employees or invitees shall, at any time, bring or keep upon the leased
premises or other COMMON AREAS any inflammable, combustible or explosive fluid,
chemical or substance. No article deemed as extra hazardous on account of fire
or explosion shall be brought upon the premises. TENANT shall not operate or
permit to be operated any steam engines, boilers, mechanical machinery or
electric or gas stoves without LANDLORD'S prior written consent. TENANT shall
not use any combustible fluids for any reason within the premises without the
express written consent of LANDLORD.

         14. VERMIN INFESTATION: If the leased premises become infested with
vermin, bugs or other infestation, TENANT, at its sole cost and expense, shall
cause the leased premises to be exterminated which may be continued from time to
time to the satisfaction of LANDLORD. Any extermination services utilized shall
be approved in writing by the LANDLORD prior to commencement of extermination
services.

         15. FOOD PREPARATION: TENANT shall not allow the preparation of food
for general consumption on the premises nor use the facilities for the
preparation of food without prior written consent of LANDLORD. TENANT shall not
use the premises for houseing, lodging, sleeping nor any other immoral or
illegal purpose. The foregoing shall not be deemed to cover the use of a
refrigerator, or a microwave oven by TENANT for the benefit of TENANT, its
agents and/or employees.

         16. CLEANING SERVICES: TENANT shall permit LANDLORD'S employees (or
LANDLORD'S agent's employees) entry into the leased premises for purposes of the
care and

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cleaning of same after 5:30 PM without hindrance, and TENANT shall not employ
any persons other than LANDLORD'S employees, agent' etc., for such purpose
without the prior written consent of LANDLORD. No TENANT shall cause any
unnecessary labor by reason of such TENANT'S carelessness or indifference with
respect to the preservation of good order and cleanliness in the leased
premises. Any outside services employed by TENANT with consent of LANDLORD for
purposes of cleaning shall be at TENANT'S sole cost and expense.

         17. MODIFICATIONS TO RULES: These Rules and Regulations may be changed
from time to time by LANDLORD without prior notice being given to TENANT as
LANDLORD may, in its absolute discretion, determine as necessary and
appropriate. LANDLORD will endeavor to notify TENANT of amendments or changes in
the Rules and Regulations as expeditiously as possible. Violation or breach of
these Rules and Regulations shall constitute a breach of the lease agreement and
TENANT shall be liable for any damage caused thereby.

         18. No awnings or other projections shall be attached to the outside
walls of the Building without the prior written consent of LANDLORD. No drapes,
blinds, shades or screens shall be attached to or hung in or used in connection
with, any window or door of the Premises, without the prior consent of LANDLORD.
Such awnings, projections, curtains, blinds, screens or other fixtures must be
of a quality, type, design and color and attached in the manner approved by
LANDLORD. Notwithstanding the foregoing, and notwithstanding any provision of
this Lease to the contrary, TENANT, from time to time, will be permitted to
install floor to ceiling drapes on the exterior windows of the Premises; said
drapes shall be submitted to LANDLORD for LANDLORD's approval

         TENANT HEREBY ACKNOWLEDGES RECEIPT OF A COPY OF THE FOREGOING RULES AND
REGULATIONS AT THE TIME OF EXECUTING THE LEASE AGREEMENT.

                                          GLOBALNET FINANCIAL.COM, INC.

                                                     [ILLEGIBLE]
                                          --------------------------------------
                                          TENANT

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                       AMENDMENT TO RULES AND REGULATIONS
                      OF SCHEVER INTERNATIONAL PLAZA, INC.

         The following is an amendment to the Rules and Regulations of SCHEVER
INTERNATIONAL PLAZA, INC. pursuant to the rule making authority of SCHEVER
INTERNATIONAL PLAZA, INC. {SCHEVER INTERNATIONAL PLAZA, INC. is hereinafter
referred to US the "LANDLORD"}.

         The term "TENANT" shall have the meaning already assigned to said term
pursuant to the existing Rules and Regulations of LANDLORD and any and all
existing Lease Agreements in effect.

         1. ACCESS CARDS: Access Cards {the term "Access Cards" shall be defined
to mean Access Cards issued in accordance with a Lease and also Revocable
Temporary Access Cards} may be issued by the LANDLORD for the benefit of the
TENANT with reference to parking areas. The TENANT is responsible for such
Access Cards. There shall be a $35.00 charge to replace any Access Card. The
number of Access Cards issued by LANDLORD to the TENANT shall be determined by
the LANDLORD and the TENANT in the Lease. Revocable Temporary Access Cards may
be issued by the LANDLORD to the TENANT on a temporary basis at the discretion
of the LANDLORD. Revocable Temporary Access Cards issued by the LANDLORD to the
TENANT may be revoked by the LANDLORD at any time, and from time to time, with
or without cause. Upon written notice of such revocation, the TENANT shall
immediately {within three days} surrender to the LANDLORD any such Revocable
Temporary Access Cards. LANDLORD shall charge $35.00 per month {plus applicable
taxes} for each Revocable Temporary Access Card. Such charge shall be deemed to
be additional rent and shall be the responsibility of the TENANT. Non-payment
of such charge shall be the same as non-payment of rent. LANDLORD shall have the
right to increase the charge for Revocable Temporary Access Cards from time to
time and as appropriate. In the event the TENANT does not wish to pay any such
increased amount for such Revocable Temporary Access Cards, TENANT may surrender
same to LANDLORD together with written notice that TENANT has elected not to
utilize same. Any monthly charge prior to the surrender of a Revocable Temporary
Access Card shall be prorated and paid as additional rent. LANDLORD shall also
have the right to require that TENANT furnish in writing upon request:

         {a} The number of parking spaces that the TENANT is presently
utilizing.

         {b} The number of Access Cards that the TENANT presently possesses.

         {c} The names of any and all employees of TENANT that utilize Access
Cards.

The failure of the TENANT to furnish such information within seven {7} days from
the date of receipt of such written request by Landlord shall constitute a
violation of the Rules and Regulations of LANDLORD. In the event of any such
violation, the LANDLORD shall have the remedies prescribed pursuant to the
existing Rules and Regulations; the Lease; and, the laws of the State of
Florida.

         2. The effective date for this Rule shall be June 15, 1997.

GLOBALNET FINANCIAL.COM, INC.                SCHEVER INTERNATIONAL PLAZA, INC.

By:         [ILLEGIBLE]                      By: /s/ Ingrid Franke
   --------------------------------             --------------------------------
   Name:                                        Name:  Ingrid Franke
        ---------------------------                  ---------------------------
   Title:                                       Title: General Manager
         --------------------------                   --------------------------

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                                   EXHIBIT B

OPTION TO EXTEND

         Tenant is hereby granted option to extend the Term for a single
additional period of five {5} consecutive Lease Years {"Extension Period"}, on
the same terms and conditions in effect under the Lease immediately prior to the
Extension Period, except that Tenant shall have no further right to extend, and
Monthly Base Rent shall be increased to the Prevailing Rental Rate. The option
to extend may be exercised only by giving Landlord irrevocable and unconditional
written notice thereof no earlier than one year and no later than six months
prior to the commencement of each Extension Period. Said exercise shall, at
Landlords election, be null and void if Tenant is in default under the Lease at
the date of said notice or at anytime thereafter and prior to commencement of
the Extension Period. The term "Incise Year" herein means each twelve month
annual period, commencing with the first day of the Extension Period, without
regard to calendar years.

         If Tenant shall fail to exercise the option herein provided, said
option shall terminate, and shad be null and void and of no further force and
effect. Tenant's exercise of said option shall not operate to cure any default
try tenant of any of the terms or provisions in the Lease, nor to extinguish or
impair any rights or remedies of Landlord arising by virtue of such default If
the Lease or Tenant's right to possession of the Premises shall terminate in any
manner whatsoever before Tenant shall exercise the option herein provided, or if
Tenant shall have subleased or assigned all or any portion of the Premises, then
immediately upon such termination, sublease or assignment, the option herein
granted to extend the Term, shall simultaneously terminate and become null and
void. Such option is personal to Tenant Under no circumstances whatsoever shall
the assignee under a complete or partial assignment of the lease, or a subtenant
under a sublease of the Premises, have any right to exercise the option to
extend granted herein. Time is of the essence of this provision.

                                       LANDLORD: SCHEVER INTERNATIONAL
                                                 PLAZA, INC.

           [ILLEGIBLE]                 By:             [ILLEGIBLE]
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           [ILLEGIBLE]                 By:             [ILLEGIBLE]
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------------------------------------      TENANT: GLOBALNET FINANCIAL.COM, INC.

           [ILLEGIBLE]                 By:             [ILLEGIBLE]
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           [ILLEGIBLE]                 By:
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                                 EXHIBIT "B-1"

                         DISCLOSURE AND ACKNOWLEDGEMENT

         The undersigned GLOBALNET FINANCIAL.COM, INC. (hereinafter referred to
as the "TENANT" has executed a Lease Agreement with SCHEVER INTERNATIONAL PLAZA,
INC. (thereinafter referred to as "LANDLORD") with reference to a portion of the
real property in the Development known as SCHEVER INTERNATIONAL PLAZA, Boca
Baton, Florida More fully described In the Standard Lease Agreement). TENANT
acknowledge" that the Lease Agreement and the Rules prohibit the TENANT from
having pet (s) on or about the development. The TENANT further ac3cnowledgas and
agrees that the Agent for the LANDLORD has a pet and that said pet is on and
about the property on a daily basis with the Agent. TENANT agrees that such
active ties by the Agent are acceptable to the TENANT. The PENAL further agrees
that the TENANT -hall not attempt, or implement, any procedure to impose
liability of any type or character against the LANDLORD, or the Agent for the
LANDLORD, because the Agent for the LANDLORD has a pot on the property.

                                       LANDLORD

WITNESSES                              SCHEVER INTERNATIONAL PLAZA, INC.

           [ILLEGIBLE]                 By:             [ILLEGIBLE]
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Name                                      Name:        [ILLEGIBLE]
Print name:      [ILLEGIBLE]                   -------------------------------
           -------------------------      Title:       [ILLEGIBLE]
                                                ------------------------------
           [ILLEGIBLE]
------------------------------------
Name
Print name:      [ILLEGIBLE]
           -------------------------

                                       TENANT

WITNESSES                              GLOBALNET FINANCIAL.COM, INC.

           [ILLEGIBLE]                 By:             [ILLEGIBLE]
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Name                                      Name:
Print name:      [ILLEGIBLE]                   -------------------------------
           -------------------------      Title:
                                                ------------------------------
           [ILLEGIBLE]
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Name
Print name:      [ILLEGIBLE]
           -------------------------

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                                  EXHIBIT "C"

                                                                 JMB 105R (2J89)
                                                                  Work Agreement
                                                            Landlord Performance
                                                           Improvement Allowance

                                 WORK AGREEMENT

         THIS AGREEMENT made as of the 16th day of June, 1999 between Schever
International Plaza, Inc. ("Landlord") and GLOBALNET FINANCIAL.COM, INC.
('Tenant').

         Reference is made to the lease or tenant expansion agreement dated
___________, 19____ (the "Lease") for premises known as Suite(s) 210-S (the
"Premises"), located in the property known as Schever International Plaza (the
"Property").

         The terms "Plans", "Work", "Space Plan", 'Working Drawings", "Finish
Selections" and "Landlord's Space Planner" are defined in Section XIV, below.

         I. Basic Terms.

         A. Space Planner: Mummaw & Associates

         B. Date To Complete Planning: July 1, 1999 (including any Space Plan,
Working Drawings and Finish Selections)

         C. Date To Substantially Complete Work: Commencement Date under the
Lease.

         D. Improvement Allowance Provided by Landlord: $ 25.00 per usable sq.
ft. of the Premises (i.e.-2,287 usable sq fit X $25.00 per sq ft = $57,175). The
Improvement Allowance includes the cost of any space planning fees or working
drawing fees expended by Landlord on behalf of Tenant.

         II. Basic Agreement. On or before the "Date To Complete Planning"
described above, Tenant shall: (a) provide Space Planner with all information
concerning Tenant's requirements in order for Space Planner to prepare the
Plans, and (b) arrange for Space Planner to prepare the Plans, and obtain
Landlord's written approval thereof. However, Tenant shall not be responsible
for delays caused by Landlord or Landlord's Space Planner, as further described
in Section 111. below.

         On or before the Commencement Date under the Lease, Landlord shall
substantially complete the Work shown on the final approved Plans. However,
Landlord shall not be responsible for delays caused by Tenant or Tenant's
contractors, agents or employees and as further described in Section IV, below
and in Article 4 of the Lease.

         Landlord shall bear the cost of the Work (including the cost of
building permits and sales tax) up to the Improvement Allowance described above
(if any), and Tenant shall bear any costs over such amounts.

         III. Delays In Planning. The Commencement Date under the Lease shall be
postponed for each day that final Plans are not prepared and approved by the
"Date to Complete Planning" described above, including any revisions reasonably
required by Landlord pursuant to Section V and revisions by Tenant to reduce
Tenant's Cost pursuant to Section IX (collectively called "Delays in Planning").
However, the commencement of Rent shall be postponed only to the extent that
substantial completion of the Work is delayed beyond me Commencement Date as a
result of one or more of the following events (collectively called "Landlord
Delays"):

         (a) Landlord takes more than seven (7) working days to approve or
disapprove the Plans or revisions thereof after receiving the same (or such
longer time as may be reasonably required in order to obtain any engineering or
HVAC report or due to other special or unusual features of the Work or Plans),

         (b) Landlord's Space Planner takes more than seven (7) working days to
meet with Tenant after receiving a written request for a meeting, or takes more
than seven (7) working days to prepare or revise the Plans after meeting with
Tenant and receiving all information born Tenant required in order to do so
(provided this provision shall apply only if Tenant uses "Landlord's Space
Planner" as described in Section XIV below to prepare the Plans), or

         (c) Landlord takes more than thirty (30) working days to provide Tenant
with cost estimates after receiving Plans sufficiently detailed for such
purposes (provided this provision (c) shall only apply if Landlord elects to
provide cost estimates under Section IX below).

<PAGE>

         IV. Delays In Construction. The Commencement Date under the Lease shall
be postponed for each day that Landlord fails to substantially complete the Work
thereby as a result of strikes, acts of God, shortages of materials or labor,
governmental approvals or requirements, the various causes set forth below, or
any other causes beyond Landlord's reasonable control. In such case, the
commencement of Rent shall be similarly postponed, except to the extent that
delays occur as a result of one or more of the following (collectively called
"Tenant Delays"):

         (a) Delays in Planning as described above (except for Landlord Delays),
or

         (b) Tenant's requests for changes to the Work or Change Orders under
Section VII, or otherwise,

         (c) Tenant's failure to furnish an amount equal to Landlord's
reasonable estimate of Tenant's Cost (if any) within 10 days, as described in
Section IX (which shall give Landlord the absolute right to postpone the Work
until such amount is furnished to Landlord),

         (d) any upgrades, special work or other non-building standard items, or
items not customarily provided by Landlord to office tenants, to the extent that
the same involve longer lead times, installation times, delays or difficulties
in obtaining building permits, requirements for any governmental approval,
permit or action beyond the issuance of normal building permits (as described in
Section VI), or other delays not typically encountered in connection with
Landlord's standard office improvements,

         (e) the performance by Tenant or Tenant's contractors, agents or
employees of any work at or about the Premises or Property, or

         (f) any act or omission of Tenant or Tenant's contractors, agents or
employees, or any breach by the Tenant of any provisions contained in this
Agreement or in the Lease, or any failure of Tenant to cooperate with Landlord
or otherwise act in good faith in order to cause the Work to be designed and
performed in a timely manner.

         V. Landlord's Approval of Plans. Landlord shall either approve any
Plans or revisions submitted pursuant to this Agreement or disapprove the same
with suggestions for making the same acceptable within the time required under
Section 111. Landlord shall not unreasonably Withhold approval, if the Plans
provide for a customary office layout, with finishes and materials generally
conforming to building standard finishes and materials currently being used by
Landlord at the Property, are compatible with the Property's shell and core
construction, and if no modifications will be required for the Property
electrical, heating, preconditioning, ventilation, plumbing, fire protection,
life safety, or other systems or equipment, and will not require any structural
modifications to the Property, whether required by heavy loads or otherwise.
Landlord may request that Tenant approve Landlord's suggested changes in writing
(such approval not be unreasonably withheld), or Landlord may arrange directly
with Space Planner for revised Plans to be prepared incorporating such
suggestions (in which case, Tenant shall sign or initial the revised Plans
and/or Landlord's notice concerning the suggested changes, if requested by
Landlord). Landlord's approval of the Plans shall not be deemed a warranty as to
the adequacy or legality of the design, and Landlord hereby disclaims any
responsibility or liability for the same.

         VI. Governmental Approval of Plans. Landlord shall apply for any normal
building permits required for the Work which are issued pursuant to a local
building code as a ministerial matter. If the Plans must be revised in order to
obtain such building permits, Landlord shall promptly notify Tenant. In such
case, Tenant shall promptly arrange for the Plans to be revised to satisfy the
building permit requirements and shall submit the revised Plans to Landlord for
approval as a Change Order under Section VII. Landlord shall have no obligation
to apply for any zoning, parking or sign code amendments, approvals, permits or
variances, or any other governmental approval, permit or action (except normal
building permits as described above). If any such other matters are required,
Tenant shall promptly seek to satisfy such requirements or revise the Plans to
eliminate such requirements. Delays in substantially completing the Work by the
Commencement Date as a result of requirements for building permits or other
governmental approvals, permits or actions shall affect the Commencement Date
and commencement of Rent to the extent provided in Section IV (except that any
delays in obtaining normal building permits as a result of errors or omissions
of Landlord's Space Planner in preparing the Plans shall postpone the
commencement of Rent to the extent that substantial completion of the Work is
delayed thereby beyond the Commencement Date, and Tenant shaft not be obligated
to bear the cost of Plan revisions to correct the same, notwithstanding anything
to the contrary contained in this Agreement).

         VII. Changes After Plans Are Approved. If Tenant shall desire any
changes, alterations, or additions to the final Plans after they have been
approved by Landlord, Tenant shall submit a detailed written request or revised
Plans (the "Change Order") to Landlord for approval. If treasonable and
practicable and generally consistent with the Plans theretofor approved,
Landlord shall not unreasonably withhold approval, but all costs in connection
therewith, including without limitation construction costs, permit fees, and any
additional plans, drawings and engineering reports or other studies or tests, or
revisions of such existing items, shall be paid for by Tenant as a Tenant's Cost
under Section IX.

         VIII. Unused Improvement Allowance. 11 all or any portion of any
Improvement Allowance shall not be used, Landlord shall be entitled to the
savings and Tenant shall receive no credit therefor.

         IX. Tenant's Cost; Estimates (If Applicable). Any amounts that Tenant
is required to pay under this Agreement shall be referred to as "Tenant's Cost"
herein. Tenant's Cost shall be deemed additional "Rent" under the Lease.
Landlord may at any time reasonably estimate Tenant's Cost In advance, in which
case, Tenant shad deposit such estimated amount with Landlord within 10 days
after requested by Landlord. If such estimated amount exceeds the actual amount
of Tenant's Cost, Tenant shall receive a refund of the difference, and if the
actual amount shall exceed the estimated amount, Tenant shall pay the difference
to Landlord within 10 days after requested by Landlord.

                                       2
<PAGE>

         In connection with submitting any Plans to Landlord for approval,
Tenant may request that Landlord obtain a written estimate from Landlord's
contractor concerning Tenant's Cost. Landlord shall not have an obligation to
obtain such estimates. However, if Landlord elects to obtain such estimates, and
if any such estimates are unacceptable to Tenant, Tenant may eliminate or
substitute Items in order to reduce the estimated Tenant's Cost in connection
with preparing a revised version of the Plans.

         In connection with submitting any cost estimates to Tenant under this
Section, Landlord may request Tenant's written approval of such estimates.
Tenant shall not unreasonably withhold such approval, and shall approve or
disapprove the same in writing within five (5) days after requested by Landlord.
If Tenant reasonably disapproves any such estimate, Tenant shall meet with the
Space Planner and eliminate or substitute items in order to reduce Tenant's Cost
as described in the proceeding paragraph.

         Any cost estimates based on a Space Plan or so-called "pricing plan"
will be preliminary in nature, and may not be relied on by Tenant. However,
Landlord agrees that any written estimate of Tenant's Cost based on the approved
Working Drawings will not be exceeded by more than twenty percent (20%), except
to the extent that: (a) Tenant thereafter makes changes in the Working Drawings
or the Work, (b) overtime labor is required in order to substantially complete
the Work by the Work Completion Date, (c) concealed conditions are encountered
on the job site, (d) new legal requirements become effective following
preparation of the estimate, or (e) there are strikes, acts of god, shortages of
materials or labor, or other causes beyond Landlord's reasonable control.

         X. Completion.

         A. Landlord shall be deemed to have "substantially completed" the Work
for purposes hereof if Landlord has caused all of the Work to be completed
substantially except for so called "punchlist items," e.g. minor details of
construction or decoration or mechanical adjustments which do not substantially
interfere with Tenant's occupancy of the Premises, or Tenant's ability to
complete any improvements to the Premises to be made by Tenant, If there is any
dispute as to whether Landlord has substantially completed the Work, the good
faith decision of Landlord's Space Planner shall be final and binding on the
parties.

         B. If Landlord notifies Tenant in writing that the Work is
substantially completed, and Tenant fails to object thereto in writing within
seven (7) days thereafter specifying in reasonable detail the items of work
needed to be performed in order for substantial completion, Tenant shall be
deemed conclusively to have agreed that the Work is substantially completed. for
purposes of commencing the Commencement Date and Rent under the Lease.

         C. Substantial completion shall not prejudice Tenant's rights to
require full completion of tiny remaining items or Work. However, if Landlord
notifies Tenant in writing that the Work is fully completed, and Tenant fails to
object thereto in writing within fifteen (15) days thereafter specifying in
reasonable detail the items of work needed to be completed and the nature of
work needed to complete said items, Tenant shall be deemed conclusively to have
accepted the Work as fully completed (or such portions thereof as to which
Tenant has not so objected).

         D. Landlord reserves the right to substitute comparable or better
materials and items for those shown in the Plans, so long as they do not
materially and adversely affect the appearance of the Premises.

         XI. Work Performed by Tenant. Landlord, at Landlord's discretion, may
permit Tenant and Tenant's agents and contractors to enter the Premises prior to
completion of the Work in order to make the Premises ready for Tenant's use and
occupancy. If Landlord permits such entry prior to completion of the Work, then
such permission is conditioned upon Tenant and Tenant's agents, contractors,
workmen, mechanics, suppliers and invitees working in harmony and not
interfering with Landlord and Landlord's contractors In doing the Work or with
other tenants and occupants of the Building. If at any time such entry shall
cause or threaten to cause such disharmony or interference, Landlord shall have
the right to withdraw such permission upon twenty-four (24) hours oral or
written notice to Tenant. Tenant agrees that any such entry into the Premises
shall be deemed to be under all of the terms, covenants, conditions and
provisions of the Lease (including, without limitation, all insurance
requirements), except as to the covenant to pay Rent thereunder, and further
agrees that Landlord shall not be liable In any way for any injury, loss or
damage which may occur to any Items of work constructed by Tenant or to other
property of Tenant that may be placed in the Premises prior to completion of the
Work, the same being at Tenant's sole risk.

         XII. Signage. Landlord shall cause signage of building standard
material and design to be placed on or adjacent to the door of the Premises and
Tenant shall pay the cost thereof to Landlord upon demand. The amount due from
Tenant therefor shall be deemed "Rent" under the Lease. Tenant shall promptly
advise Landlord in writing of the name or names Tenant wishes for said signage.
The content of all signage shall be subject to Landlord's prior approval.

         XIII. Liability. The parties acknowledge that Landlord is not an
architect or engineer, and that the Work will be designed and performed by
independent architects, engineers and contractors. Accordingly, Landlord does
not guarantee or warrant that the Plans will be free from errors or omissions,
nor that the Work will be free from defects, and Landlord shall have no
liability therefor, provided that such architects, engineers and contractors are
licensed and reputable (except as provided in Section VI). In the event of such
errors. omissions, or defects, Landlord shall cooperate in any action Tenant
desires to bring against such parties.

         XIV. Certain Definitions.

         A. "Work" herein means the construction of the improvements shown on
the final approved Plans, and any demolition. preparation or other work required
in connection therewith, including without limitation, any work required to be
performed outside the Premises in order to obtain building permits for the work
to be performed within the Premises (if Landlord elects to perform such work
outside the Premises).

         B. "Landlord's Space Planner" herein means the space planner (if any)
regularly used by Landlord and with whom Landlord has a written contractual
arrangement for space planning services at the Property.

         C. "Finish Selections ' herein means the type and color of floor and
wall-coverings, wall paint and any other finishes.

                                       3
<PAGE>

         D. "Plans" herein means, collectively, any Space Plan, Working
Drawings, or other plans, drawings or specifications, am Finisl1 Selections (and
in the event of any inconsistency between any of the same, or revisions thereto,
the latest dated item approved by Landlord shall control). The Plans shall be
signed or Initialled by Tenant, if requested by Landlords and any Working
Drawings shall include at least three (3) mylar sepias (or such other quantity
as Landlord may reasonably require).

         E. "Space Plan" herein means a preliminary floor plan, generally
showing demising walls corridor doors, interior partition walls and Interior
doors. The term "Space Plan" for purposes of this Agreement shall also refer to
any so-called "pricing plan", i.e. a more detailed Space Plan, drawn to scale,
showing: t1) any special walls; glass partitions or corridor doors, (2) any
restrooms, hitchers, computer rooms, file rooms and other special purpose rooms,
and any sinks or other plumbing facilities, or other special facilities or
equipment (3) communications system, indicating telephone and computer outlet
locations, and (4) any other details or features reasonably required in order to
obtain a preliminary cost estimate as described in Section IX, above, or
otherwise reasonably requested by Landlord or Landlord's Space Planner.

         F. "Working Drawings" hercir1 means fully dimensioned architectural
construction drawings and specifications, and any required engineering drawings
(including mechanical, electrical, plumbing, air-conditioning, ventilation and
heating), and shall include any applicable items described above for the Space
Plan, and If applicable: (1) electrical outlet locations, circuits and
anticipated usage therefor, (2) reflected ceiling plan, including lighting,
switching, and any special ceiling specifications, (3) duct locations for
heating, ventilating and air-conditioning equipment, (4) details of all
millwork, (5) dimensions of all equipment and cabinets to be built in, (6)
furniture plan showing details of space occupancy, (7) keying schedule, (8)
lighting arrangement, (9) location of print machines, equipment in lunch rooms,
concentrated file and library loadings and any other equipment or systems (with
brand names wherever possible) which require special consideration relative to
air-conditioning, ventilation, electrical, plumbing, structural, fire
protection, life--fire-safety system, or mechanical systems, (10) special
heating, ventilating End air conditioning equipment and requirements, (11)
weight and location of heavy equipment, and anticipated loads for special usage
rooms, (12) demolition plan, (13) partition construction plan, (14) Finish
Selections, and any other details or features reasonably required in order to
obtain a more firm cost estimate as described in Section IX, above, or otherwise
reasonably requested by Landlord or Landlord's Space Planner:

         XV. Taxes. Tenant shall pay prior to delinquency all taxes, charges or
other governmental impositions (including without limitation, any real estate
taxes or assessments, sales tax or Value added tax) assessed against or levied
upon Tenant's fixtures, furnishings, equipment and personal property located in
the Premises and the Work lo the Premises under this Agreement. Whenever
possible, Tenant shall cause all such items to be assessed and billed separately
from the property of Landlord. in the event any such items shall be assessed and
billed with the property of Landlord, Tenant shall pay its share of such taxes,
charges or other governmental impositions to Landlord within thirty (30) days
alter Landlord delivers a statement and a copy of the assessment or other
documentation showing the amount of such impositions applicable to Tenant.

         XVI. Incorporation Into Lease: Default. THE PARTIES AGREE THAT THE
PROVISIONS OF THIS WORK AGREEMENT ARE HEREBY INCORPORATED BY THIS REFERENCE
INTO THE LEASE FULLY AS THOUGH SET FORTH THEREIN. In the event of any express
inconsistencies between the Lease and this Work Agreement, the latter shall
govern and control. Any default by a party hereunder shall constitute a default
by that party under the Lease and said party shall be subject to the remedies
and other provisions applicable thereto under the Lease.

                                 LANDLORD: Schever International, Inc.
                                           -------------------------------------
                                           By:

                                              By:
                                                 -------------------------------

                                 TENANT: GLOBALNET FINANCIAL.COM, INC.
                                        ----------------------------------------
                                           By:           [ILLEGIBLE]
                                              ----------------------------------

                                        4
<PAGE>

                                                    ARVIDA REALTY SALES, Ltd.
                                                    COMMERCIAL DIVISION
                                                    7900 GLADES ROAD
                                                    P.O. BOX 100
                                                    BOCA BATON, FLORIDA 33429
                                                    TELEPHONE: (407) 479-1225
                                                    LICENSED REAL ESTATE BROKERS

                         REAL ESTATE AGENCY DISCLOSURE

SELLER/LESSOR: SCHEVER INTERNATIONAL PLAZA INC.
              ------------------------------------------------------------------

BUYER(S)/LESSEE: GLOBALNET FINANCIAL.COM, INC.
                ----------------------------------------------------------------

PROPERTY: 7284 W. Palmetto Park Road, Boca Raton. FL 33433 -- Suite 210-S
         -----------------------------------------------------------------------

SALESPERSON: Ingrid A. Fulmer/Andrea Raskin-Lapis
            --------------------------------------------------------------------

ARVIDA REALTY SALES, LTD. and the Salesperson (together "ARSL") hereby disclose
to the Buyer/Lessee that ARSL is acting as the real estate broker,
broker-salesperson with respect to the purchase or lease (as applicable) of the
Property solely on behalf of Seller/Lessor as an (check one) XX agent __
employee __ independent contractor. Accordingly, ARSL undertakes no duty of
disclosure, representation or otherwise to Buyer/Lessee in this transaction.

This Disclosure is given in accordance with Rule 2IV-10, 033, Florida
Administrative Code.

The undersigned acknowledges receipt of
this Disclosure prior to the under-
signed's execution of the contract or
lease (as applicable) for the subject
transaction.

              [ILLEGIBLE]
-----------------------------------------
Buyer/Lessee

-----------------------------------------
Buyer/Lessee

Date:
     ------------------------------------

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00006-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00006-of-00352.parquet"}]]