Document:

This Agreement is made on the 10th day of July 2003

BETWEEN:

(1) Total Horizon Inc. of 8631 Terrance Drive, El Cerrito,  California, CA 04530
("Total Horizon"); and

(2)   Interpaytech   Limited  of  70  JF   Kennedy,   CY1641   Nicosia,   Cyprus
("INTERPAYTECH")

BACKGROUND:

A.   Total  Horizon  has been  licensed by Pay2  Limited to provide  services to
     process and collect  payments through the Total  Horizon/Pay2  Stored Value
     Card Payment System,

B.   INTERPAYTECH  intends to market this system to its customers subject to the
     terms and conditions set out below.

IT IS AGREED:

1. Definitions

     1.1  "Confidential  Information" shall include all business,  financial and
          operational in formation of a secret and  proprietary  nature relating
          to the Services  and each  party's  wider  activities,  including  the
          Project Materials,  which may or may have been disclosed by a party to
          the other party, subject to the provisions of Clause 9.3

     1.2  "Employees"  means  permanent.   temporary,   full-time  or  part-time
          employees of INTERPAYTECH and includes individuals who are independent
          contractors engaged by INTERPAYTECH.

     1.3  "Intellectual   Property  Rights"  means  all  rights  in  inventions,
          patents,  trade marks,  service marks, trade names, rights in designs,
          copyrights,   (including  rights  in  computer  software)  rights  in.
          know-how, moral rights, rights in confidential information,  rights in
          databases,  compilation rights and topography rights and all rights or
          forms of  protection  of a similar  nature or by having  equivalent or
          similar effect to any of these which may subsist anywhere in the world
          (whether or not any of these is registered  and including  application
          for registration of any such thing).

     1.4  "Introduction"  arm a "with purpose"  meeting arranged by INTERPAYTECH
          to facilitate the services  specified in Schedule 1. For the avoidance
          of doubt a casual social introduction without an arranged meeting does
          not constitute a valid introduction.

     1.5  "Project  Materials" means any information  (including text,  numerics
          and still moving images) or other materials created by INTERPAYTECH in
          the  course  of,  or for  the  purpose  of.  performing  the  Services
          specifically in relation to Total Hori

     1.6  "Services" means the services* specified in Schedule 1.

     1.7  "Stored   Value  Payment   System"  The  Pay2  Payment   System  which
          facilitates  the storing of money in and  electronic  wallet  which is
          physically  represented  by a prepay  debit card and which will enable
          the Customer to purchase good and services from Third Party Merchants,
          as well as allowing transfer of stored value to other Card Holders;

     1.8  "Term"  means  the  period  of  time  specified  in  Clause  4 of this
          Agreement.

<PAGE>

2. INTERPAYTECH'S Obligations

     2.1  INTERPAYTECH  will supply the Services to Total  Horizon in accordance
          with the terms and conditions of this Agreement.

     2.2  INTERPAYTECH  is  entering  into  this  Agreement  as  an  independent
          contractor  Nothing in this Agreement shall be construed as creating a
          relationship  of master  and  servant,  principal  and  agent,  or any
          partnership or joint venture between Total Horizon and INTERPAYTECH.

     2.3  INTERPAYTECH  shall not have, nor represent that it has, any authority
          to enter into  contracts  for or on behalf of Total  Horizon,  and may
          only  refer to itself  as "a Total  Horizon  affiliate"  in a form and
          manner first  approved in writing by Total Horizon in connection  with
          the  performance  of the Services under this  Agreement.  INTERPAYTECH
          shall not use or display the Total  Horizon  logos or  trademarks,  or
          otherwise  indicate  any  connection  with  Total  Horizon  except  in
          accordance with the provisions of this Agreement.

     2.4  Each party shall at all times act in good faith and not do anything to
          undermine the goodwill of the other party.

     2.5  All  Employees  shall  at  all  times  remain  the  employees  of,  or
          independent  contractors engaged by, INTERPAYTECH and not employees of
          Total Horizon and  INTERPAYTECH  shall be solely  responsible  for all
          matters  relating to the  employment or  engagement of the  Employees,
          including but without  limitation  all  remuneration  and all national
          insurance  and other  contributions,  required by law to be paid by an
          employer in respect of such persons

     2.6  It is a condition of this  Agreement that  INTERPAYTECH  shall pay any
          income tax or contributions  required by any  governmental  authority,
          including any medical,  medicare or national  insurance  contributions
          payable in respect of  INTERPAYTECH'S  income or the arrangement under
          this Agreement and  INTERPAYTECH  will indemnify Total Horizon against
          all claims, demands,  actions, losses, damages and expenses (including
          reasonable  legal fees and  expenses)  which may be made against Total
          Horizon in respect of such tax of other levies.
<PAGE>

     2.7  INTERPAYTECH  shall ensure that the  Employees we legally  entitled to
          perform the Service in such country as they may be required to perform
          the Services under this Agreement,  and  INTERPAYTECH  shall indemnify
          Total Horizon against any claims, demands, action, losses, damages and
          expenses  (including  reasonable  legal fees and  expenses)  which may
          arise out of or in connection  with any claim that any Employee is not
          so entitled.

3. The Fees

     3.1  In  consideration  of the performance of the Services by INTERPAYTECH,
          Total  Horizon  agrees  to pay  INTERPAYTECH'S  fees as  specified  in
          Schedule 2 ("the Charges").

     3.2  Payment of fees and commissions by Total Horizon to  INTERPAYTECH  for
          business  generated  for and on behalf of Total  Horizon shall survive
          termination of this Agreement.  Specifically,  the termination of this
          Agreement  shall not affect the payment of commissions and fees due to
          INTERPAYTECH  with respect to business  generated by INTERPAYTECH  for
          and on behalf of Total Horizon as long as Total Horizon are processing
          transactions  for  entities  of clients  generated  on behalf of Total
          Horizon by INTERPAYTECH.

     3.3  The Charges shall be exclusive of Value Added Tax (if any).

4. Term

This Agreement  shall commence from the date of last signature of this Agreement
and continue thereafter for a period of three (3) years,  subject to termination
by either  party in  accordance  with  Clause 7.  After  the  expiration  of the
original three (3) year term of this Agreement, the Agreement will automatically
renew and shall continue  until  terminated by ether party with thirty (30) days
prior written notice.

5. Intellectual Property Rights

     5.1  All intellectual  Property Rights in the Project  Materials shall vest
          exclusively in Total Horizon.

     5.2  Total  Horizon  warrants  that  information  supplied to  INTERPAYTECH
          specifically for the preparation of the Project Materials will be true
          and  correct  at the time and will  not,  either  in whole or in part,
          infringe the Intellectual Property Rights of a third party.

     5.3  INTERPAYTECH  agrees to  indemnify  Total  Horizon  against  any loss,
          damage,  cost or expense  (including  reasonable  solicitors' fees and
          expenses) Total Horizon my suffer or incur arising out of any claim by
          any third party that the Project  Materials  subsequently  prepared by
          INTERPAYTECH,  either in whole or in part,  infringe the  Intellectual
          Property Rights of a third party.

<PAGE>

6. Restrictive Covenant

Total Horizon hereby covenants that:

          (a)  it will not enter into an  agreement  to  provide a Stored  Value
               Payment  System other than through  INTERPAYTECH  with any of the
               merchants   listed  on  the  Restrictive   list  as  supplied  by
               INTERPAYTECH  to Total  Horizon in written form from time to time
               and agreed by Total Horizon as specific clients of INTERPAYTECH.

          (b)  it will not enter into an  agreement  to  provide a Stored  Value
               Payment  System other than through  INTERPAYTECH  to any merchant
               which has been introduced to Total Horizon as specific clients of
               INTERPAYTECH.

          (c)  Total Horizon will use its best endeavors to ensure its employees
               keen the identity of INTERPAYTECH'S customers confidential and do
               not use any information disclosed other than for the purposes for
               which the disclosure is made.

          (d)  Total Horizon will not approach any Person employed or engaged by
               in relation to INTERPAYTECH  the Services without the -consent of
               INTERPAYTECH.

7. Termination

     7.1  Either party may  terminate  the  Agreement  by written  notice if the
          other is in  breach  of any of its  material  obligations  under  this
          Agreement  and fails to remedy such breach within 30 days of a written
          notice to do so.

     7.2  Either party may  terminate  this  Agreement  immediately  and without
          notice if.

          a)   The other enters into a composition with its creditors,

          b)   an order is made for the winding up of the other,

          c)   an effective resolution is passed for the winding up of the other
               (other than for the purposes of amalgamation or reconstruction on
               terms  approved  by the  first  party  (such  approval  not to be
               unreasonably withheld); or

          d)   the other has a  received,  manager,  administrative  receiver or
               administrative appointed in respect of it.

     7.3  Upon  termination  of this  Agreement  for whatever  reason each party
          shall  return to the other  party all the other  party's  Confidential
          Information in its possession, custody or control.

8. Limitation of Liability

     8.1  Subject to Clause 8.3,  Total  Horizon shall only be liable under this
          Agreement for loss or damage arising directly out of

          a)   any breach of its obligations under this Agreement; or b) its own
               negligence or willful misconduct.

     8.2  Subject to Clause  8.3.  and  except in  relation  to the  indemnities
          contained  in Clauses  2.6,  2.8 and 5.2,  and any breach of Clause 9,
          INTERPAYTECH  shall only be liable  under this  Agreement  for loss or
          damage arising directly out of:

          (a)  any breach of its obligations under this Agreement; or

          (b)  its own negligence or willful misconduct.

     8.3  Nothing in this clause 9 shall be constructed to exclude the liability
          of either party for death or personal injury caused by its negligence.

<PAGE>

     8.4  Neither  party  shall be liable to the other or to any third party for
          any indirect,  special or consequential  loss or damage arising out of
          or in connection with this Agreement.

9.       Confidentiality

     9.1  No public  announcement,  press  release,  communication  or  circular
          concerning  this Agreement will be made or sent by  INTERPAYTECH or by
          Total Horizon  without the prior  written  consent of the other party,
          which "I not be unreasonably withheld.

     9.2  Each party acknowledges that Confidential Information may be disclosed
          to it or otherwise come to its attention.  For the avoidance of doubt,
          Confidential  information  is disclosed to, or otherwise  comes to the
          attention  of a party if it is  disclosed to such a party by the other
          party.  The  parties  agree  and  undertake  that  they  will hold any
          Confidential  Information in complete confidence and will not disclose
          it in  whole  or in  part  at any  time to any  third  party,  nor use
          Confidential  Information  for any purpose other than, the performance
          of their obligations under this Agreement.

     9.3  Confidential Information shall not include information which

          (a)  at or prior to the time of disclosure by a party was known to the
               other party as  evidenced  in writing,  except to the extent that
               such information was unlawfully appropriated;

          (b)  at or after the time of disclosure  by a party becomes  generally
               available to the public other than through any act or omission on
               the part of the other party;

          (c)  is received by  INTERPAYTECH  or Total Horizon from a third party
               free  to  make  such  disclosure   without  breaching  any  legal
               obligation;

          (d)  is required to be disclosed by law, court order or request by any
               government or regulatory authority.

10.      General

     10.1 This Agreement,  which includes the Schedules,  constitutes the entire
          agreement  of the  parties  in  relation  to its  subject  matter  and
          supersedes  and  cancels  any  previous  understandings.  Commitments,
          arrangements or  representations  whatsoever  whether oral or written,
          express or implied in relation to that subject matter.  This Agreement
          shall not be  varied  unless in  writing  signed by a duly  authorized
          representative of each party.

     10.2 If any pad of this Agreement that is not  fundamental.  is found to be
          illegal or unenforceable, such finding will not affect the validity or
          enforceability of the remainder of this Agreement.

     10.3 Neither  party will be held  liable for any loss or failure to perform
          its obligations  under this agreement due to circumstances  beyond its
          reasonable control.,

     10.4 Any  waiver  by  either  party of a breach  of any  provision  of this
          agreement  shall not be  considered  to be a waiver of any  subsequent
          breach of the same or any other provision thereof.

     10.5 Any notices given by either party  hereunder shall be given in writing
          by the recipient at its address set out above (or such address as such
          party may notify the other for the purposes  hereof).  Any such notice
          shall be deemed to be  delivered,  if sent by first class post,  forty
          eight hours after posting;  and, if sent by facsimile,  at the time of
          transmission,  confirmed  by a  transmission  report from the sender's
          facsimile machine.

<PAGE>

     10.6 This Agreement  shall be governed by and construed in accordance  with
          the laws of  England,  and both  patties  submit to the  non-exclusive
          jurisdiction of the English Courts.

     10.7 The rights, duties and obligations of the Parties under this Agreement
          may not be subcontracted, delegated, assigned or otherwise transferred
          in whole or part, without prior written consent of the other party

     10.8 Total,  Horizon  will  enter  into  a  separate  agreement  with  each
          Introduced party,  which will define the obligations of the parties to
          provide Services at a satisfactory level.

     10.9 This  Agreement may be executed in one or more  counterparts,  each of
          which  will be  deemed  an  original  but all of which  together  will
          constitute  one  and  the  same  instrument.   For  purposes  of  this
          Agreement,  the  delivery of a  counterpart  signature  by  telephonic
          facsimile  transmission  will be deemed the equivalent of the delivery
          of an original counterpart signature.
<PAGE>
IN WITNESS OF WHICH THIS  Agreement  has been duly executed by the parties.

Signed for and on behalf of

Interpaytech Limited

Signed______________________________

Position______________________________

Dated_________________________________

Signed for and on behalf of

Total Horizon Inc. _________________________

Signed______________________________________

Position____________________________________

Dated ______________________________________

<PAGE>

SCHEDULE I

                                  THE SERVICES

To  introduce  merchants to Total  Horizon Inc for the purpose of exploring  the
potential for those  merchants to enter into formal written  agreements to adopt
the Total Horizon/Pay2 payment system and related products.

SCHEDULE 2

                                   THE CHARGES

Total  Horizon  will  pay  INTERPAYTECH  35% of the Net  Revenue  from  all card
transactions  and sales  generated by each  customer  bought to Total Horizon as
part of an integrated solution including payment.

Net Revenue will be gross  revenue from the direct card  transactions  and sales
received by Total Horizon in respect to specific merchants and customers brought
to Total Horizon by INTERPAYTECH minus Bank and Network charges and a charge for
the system,  which will include any royalties  payable.  All deductible  charges
will be defined  either  absolutely  or, if variable,  by a formulae  with known
parameters and confirmed under payment agreement for each customer.

Total  Horizon  will also pay  INTERPAYTECH  a monthly  fee of US $75,000 on the
first day of each calendar mouth with effect from 1st October 2003.July 2003

SHAREHOLDERS' AGREEMENT

LORD EDWARD RAZZALL

and

JOHN ANTHONY MITCHELL trading as ARGONAUT ASSOCIATES

and

BOSTON FIDELITY LIMITED

and

PAYGARD INC, formerly TOTAL HORIZON INC

and

PAY2 LIMITED

and

ARGONAUT ASSOCIATES LIMITED

FLADGATE FIELDER
25 North Row
London W I K 6DJ
Tel: 020 7323 4747
Fax- 020 7629 4414
Ref: ELB/205W/W01

<PAGE>

CONTENTS

1.   Definitions and interpretations .........................................2

2.   Relationship of the parties .............................................2

3.   Conditions...............................................................3

4.       Completion...........................................................3

5.       Warranties and undertakings..........................................5

6.       Further rights and obligations.......................................5

7.       Exercise of powers and inconsistency.................................6

8.       Administration - board of directors..................................6

9.       Mutual covenants.....................................................9

10.      Disposition..........................................................10

11.      Pre-emption..........................................................10

12.      Restraint of trade...................................................12

13.      Termination..........................................................13

14.      Confidentiality......................................................13

15.      Successors and assigns...............................................13

16.      Notice...............................................................13

17.      Severance............................................................15

18.      Arbitration..........................................................15

19.      Governing law........................................................15

20.      Counterparts.........................................................15

21.      Merger provisions....................................................16

22.      Further assurances...................................................16

23.      Waiver...............................................................16

24.      Variation of agreement...............................................16

Schedule 1
Definitions and interpretations...............................................17

<PAGE>

DATE:                                                    July 2003

PARTIES:

(1)  LORD  EDWARD  RAZZALL  and  JOHN  ANTHONY  MITCHELL,  trading  as  ARGONAUT
     ASSOCIATES  c/o 2nd floor.  14-16 Regent  Street,  London SW1Y 4PH,  United
     Kingdom (Argonaut);

(2)  BOSTON FIDELITY  LIMITED c/o Asian  Management  Services,  111 North Bridge
     Road, 18/01 Penninsula Plaza, Singapore 179098, Singapore (Boston);

(3)  PAYGARD INC,  formerly  TOTAL HORIZON INC.,  c/o 8631  Terrance  Drive,  El
     Ceritto, California, CA 04530 (Company):

(4)  PAY 2 LIMITED c/o Exchange House, 54/58 Athol Street,  Douglas, Isle of Man
     IM1 I MD (Pay2); and

(5)  ARGONAUT  ASSOCIATES LIMITED c/o Popabasiliou House, P 0 Box 27007. 70 John
     F Kennedy Avenue, Nicosia, Cyprus CY 1641 (AAC).

Preliminary

(A) The  parties  are  parties to a heads of  agreement,  as  varied,  a deed of
variation  dated June 12,  2003 under  which the  parties  agreed to operate the
business  known as Pay2 Card  System  and under  which  Boston  and AAC would be
issued with Shares in the Company.

(B) Under the HOA, the parties agreed to enter into a  shareholders'  agreement,
regulating their  respective  interests and entitlements in, and in relation to,
the Company.

(C) The  Shareholders  wish to enter into this  agreement  to formally  regulate
their relationship as shareholders in the Company.

1.               Definitions and interpretations

The  definitions  and  interpretative  provisions  in  Schedule  I apply to this
agreement.

2.               Relationship of the parties

The  parties  acknowledge  and  agree  that  each  of  them  is  an  independent
contracting  party  and that none of them has any  authority  or power for or on
behalf of the others to enter into any contracts, to pledge any credit, to incur
any  liabilities,  to  assume  any  obligations  or to make  any  warranties  or
representations  whatsoever  other  than in  accordance  with the  terms of this
agreement and the bylaws of the Company.

<PAGE>

3.     Conditions

     3.1  Completion is conditional  upon the  satisfaction or waiver of each of
          the Conditions Precedent set out in clause 2.1 of the HOA.

     3.2  The  parties  will  use  their  best  endeavors  to  ensure  that  the
          Conditions  Precedent,  to the extent  that they are not waived by the
          parties,  are  satisfied  by 30  September  2003.  If by that date any
          Condition  Precedent has not been satisfied or waived,  this agreement
          other than clause 14 will terminate without any liability by any party
          other than liability for a prior breach.

4.     Completion

     4.1  Subject to full  satisfaction  or waiver of the Conditions  Precedent,
          Completion will take place at 14-16 Regent Street,  London SW1Y 4PH on
          the Completion Date.

     4.2  On the  Completion  Date the parties will procure that meetings of the
          Company and the board of directors are held as are necessary to:

         4.2.1 appoint John  Mitchell and Lord Razzall as AAC Directors and Greg
               Kennedy and Lindsay Sanford as Boston Directors;

         4.2.2 appoint  John  Mitchell  as chairman  and Graham  Newall as chief
               executive officer, and

     4.3  On the Completion Date:

         4.3.1 Boston  will  subscribe  unconditionally  for Shares  payment for
               which will be made in installments as follows:

              4.3.1.1  3,420,000  for US $750,000  representing  a premium of US
                    $0.218 per Shore payable on completion;

              4.3.1.2  2,916,471 for US $1,000,000  representing  a premium of
                    US  $0.342  per  Share  payable  one  calendar   month  from
                    completion;

              4.3.1.3  2,916,471 for US $1,000.000  representing a premium of US
                    $0.342  per  Shore   payable   two   calendar   months  from
                    completion:

              4.3.1. 2,916,471  for US $1,000,000  representing a premium of US
                    $0.342  per  Shore  payable  three   calendar   months  from
                    completion: and

<PAGE>

               4.3.1.5 3,645,588 for US $1,250,000  representing a premium of US
                    $0.342  per  Share   payable  four   calendar   months  from
                    completion.

                                    The Shares will be issued on  Completion  to
                           Boston   nit  paid  and  held  in  trust   until  the
                           corresponding  installment of  consideration  set out
                           above has been paid in cleared  funds for the account
                           of the Company.

               4.3.2 ______________  to MSL 5,700,000  Shares in satisfaction of
                    the fee owed to MSL for corporate finance services;

               4.3.3 The parties will procure that the Company:

               4.3.3.1 allots  and  issues  credited  as fully  paid  15,815,000
                    Shares to Boston and 5,700,000 Shares to MSL:

               4.3.3.2 enters the name of Boston in the  register  of members of
                    the  Company  as  holder  of  the  Shares  subscribed  by it
                    pursuant to clause 4.3.1;

               4.3.3.3 enter the name of MSL in the  register  of members of the
                    Company as holder of the Shares referred to in clause 4.3.2;

               4.3.3.4 issues share certificates to Boston and MSL in respect of
                    their Shares-, and

               4.3.3.5 procures the resignation of the existing directors of the
                    Company to be effective offer the Company has been listed.

         4.3.4 Boston and the Company will execute a license agreement in a form
               to be agreed  relating to the grant by Boston to the Company of a
               20 year exclusive  license to use the names of 1,000,000  Members
               for the purpose  only of marketing  the  Pay2Card  System to them
               (Boston License Agreement);

         4.3.5 Boston  and  AAC  will  procure  that  the  Company   executes  a
               consultancy agreement for a term of three years from 1st October
               2003  pursuant  to  which  MSL Will be paid an  annual  fee of US
               $150,000   (one  hundred  and  fifty   thousand  US  dollars)  in
               consideration-  for providing  general  business and  consultancy
               services; and

         4.3.6 Boston and AAC will procure  that the Company  executes a service
               agreement between the Company and Graham Newall.

<PAGE>

         4.3.7 The  Company  will  confirm its  agreement  to repay a loan of US
               $1,200,000 made by AAC to the Company.

5.     Warranties and undertakings

          5.1  Pay2,  AAC, Lord Razzall and John  Mitchell,  both as individuals
               and as  Argonaut,  warrant to Boston  that  neither  they nor any
               shareholders  of  Pay2 or AAC or any  Associates  of Pay2 or AAC,
               Pay2 shareholders, AAC shareholders or Argonaut have any interest
               whatsoever  in the share  capital of the  Company  other than the
               Shares held by them pursuant to clause 2.1 (c) of the HOA or this
               agreement.

          5.2  The Company warrants to Boston that the number of Shares in issue
               as at the date of this  agreement  is  6,815,000  and the Company
               undertakes  not to issue any further  Shares in the Company other
               than pursuant to clause 2.1 (c) of the HOA and clause 4.3 of this
               agreement without the prior written approval of Boston.

          5.3  The Company  undertakes  to Boston to provide it and its advisers
               with  access to its books and records for the purpose of enabling
               Boston to exercise its rights  pursuant to this agreement and AAC
               and  Argonaut  agree to use their  best  endeavours  to cause the
               Company  to  provide  Boston  with  such  access to the books and
               records of the Company.

          5.4  Pay2  warrants  to Boston that it holds all  necessary  title and
               interest  in all  Intellectual  Property  Rights in the Pay2 Card
               System and that it holds all  rights,  title and  interest in all
               research and development on the Pay2 Cord System.

          5.5  Argonaut,  AAC and Pay2  warrant to Boston  that all  information
               contained  or  referred  to  in  this  agreement  (including  the
               schedules  and  appendices)  is true and accurate in all respects
               and none of Argonaut,  AAC and Pay2 is aware of any other fact or
               matter which renders any such information  misleading  because of
               any omission, ambiguity or for any other reason.

6.     Further rights and obligations

          6.1  Boston  agrees  to  introduce  the  Pay2  Card  System  to  up to
               1,000,000  Members and,  with the consent of  accepting  Members,
               will procure that those Members are signed up as Pay2 Card System
               card members by the Company.

          6.2  The Company will pay the  following  sums to Boston as and when a
               Member is signed up as a Pay2 Card System member by the Company:

               6.2.1 for each Member up to 150,000 Members, US $5;

<PAGE>

              6.2.2 for each Member from  150,001 to 1.000,000  Members,  US $5,
                    and

               6.2.3 for each Member in excess of 1,000,000. US $50 cents.

          6.3  The  records  of the  Members  who are the  subject of the Boston
               License  Agreement will be maintained in the Pay2 database in the
               Isle of Man or anywhere  else from time to time and those records
               will at all times remain  exclusively the property of the Company
               until the termination or expiry of that Boston License Agreement.

          6.4  The  parties  agree that the names of the Members  introduced  by
               Boston or World Games Inc to the Company will at all times remain
               the  property of the owner.  The  parties  agree not to use those
               names in any form  whatsoever  other than  pursuant to the Boston
               License Agreement.

7.     Exercise of powers and Inconsistency

          7.1  Each of the  Shareholders  wit  exercise  all such  powers as are
               available  to it, do all such acts and things  and sign,  execute
               and  deliver  all  such  documents  and  instruments  as  may  be
               necessary  or  reasonably  required  to give  full  effect to the
               provisions of this agreement.

          7.2  The terms of this  agreement  will  prevail  notwithstanding  any
               inconsistency  contained  in the Articles of  Association  of the
               Company or in any other  document  or  agreement  or  arrangement
               whatsoever  other than an agreement  executed by the Shareholders
               which  is  clearly   expressed  to  be   supplemental  to  or  in
               substitution for this agreement.

8.     Administration - board of directors

Authority of the Board

          8.1  The  Board  may,  to the  extent  permitted  at law,  at any time
               appoint any person or/corporation, including the Shareholders, to
               act in its stead and delegate to such person or  corporation  any
               of the  functions or  obligations  of the Board on such terms and
               conditions as it determines.

          8.2  Every  decision of the Board upon any of the  matters  within its
               power will be binding on all of the  Shareholders  as if the same
               had been included in the provisions of this agreement at the time
               of execution hereof.

          8.3  The  Shareholders  will not act otherwise than in accordance with
               the decisions made from time to time by the Board.

<PAGE>

Constitution of the Board

          8.4  The Board shall be constituted by a maximum of four Directors and
               shall not be subject  to further  increase  or  reduction  by the
               Company  in  general  meeting  and  Boston  and AAC shall each by
               notice in writing  to the  others be  entitled  to  nominate  two
               Directors to the Board fin each case a  Nomination).  The Company
               in general  meeting shall not be entitled to remove or revoke the
               appointment  of any Director  nominated in  accordance  With this
               clause 8.4.

          8.5  Neither  Boston  nor AAC shall  nominate  a  Director  who is not
               acceptable  to the other,  provided  that neither  Boston nor AAC
               shall unreasonably withhold its consent to the appointment by the
               other of any such Director. The initial Nominations of Boston and
               AAC are as set out in clause 4.2.

          8.6  Either  of  Boston  or AAC may,  from  time to time,  revoke  any
               Nomination by that Shareholder (Revoking Shareholder),  by giving
               notice in writing of such  revocation  to the other,  and in such
               event a new Nomination may be made by the Revoking Shareholder in
               replacement  of the person or persons whose  Nomination  has been
               revoked.

          8.7  A Boston  Director  or an AAC  Director  will not be  required to
               retire  from  office but will remain as a Director of the Company
               at the discretion of the relevant Shareholder.

Meetings of the Board

          8.8  Unless otherwise  mutually agreed from time to time, all meetings
               of the Board shall be held in Paris.

          8.9  Boston  will  pay  the  travel  accommodation  and  out-of-pocket
               expenses  of the  Boston  Director  and AAC will  pay the  travel
               accommodation  and out of pocket  expenses of the AAC Director in
               attending each meeting of the Board.

          8.10 Each  meeting of the Board  shall be  convened  upon at least one
               week's notice (Required Notice Period in writing.  to all members
               of the Board. given by the chairman or a Director  specifying the
               purpose,   time  and  place  of  the  meeting.   A  meeting  may,
               notwithstanding  that it is called with a shorter  notice  period
               than the Required  Notice  Period,  be deemed to be duly caged if
               such  shorter  period  of  notice  is  agreed  to by  each of the
               Shareholders.  Meetings  of  the  Board  of  Directors  shall  be
               convened at,  least every four weeks or as  otherwise  determined
               from time to time.

          8.11 In the event that a Boston  Director or an AAC Director  foils to
               offend at a meeting of the Board duly convened in accordance with
               the

<PAGE>

foregoing provisions Of this agreement, the meeting is to be rescheduled for the
some time and the some place and on the same day in the following  month.  or as
otherwise agreed between Boston and AAC.

          8.12 A quorum for a meeting of the Board shall be two being one Boston
               Director and one AAC Director.

          8.13 A chairman  shall preside over each duly convened  meeting of the
               Board and the  chairman  for each of the meetings for a period of
               the lesser of two years from the date of this  agreement  or such
               shorter period as he remains a Director (Initial Period) shall be
               John Mitchell,  after which time the position shall rotate to one
               of the three remaining  Directors  determined by a meeting of the
               Directors  immediately  prior to the  expiration  of the  Initial
               Period and for each meeting for the next  succeeding  [six month]
               period the appointed Director shall preside as chairman over each
               duly   convened   meeting  of  the  Board  and  this  process  of
               appointment  shall then continue by rotation for the term of this
               agreement.

          8.14 The  chairman  shall  forward  an agenda  specifying  each of the
               resolutions and questions to be determined at the next meeting to
               each of the Board not less than 14 days before the meeting.

          8.15 The  chairman  shall cause  minutes of the meeting at which he or
               she was chairman,  to be kept and signed by the Directors present
               at the said meeting and distributed to each of the Shareholders.

          8.16 The chairman will not have a costing vote.

          8.17 A minute  signed  by a Boston  Director  and an AAC  Director  in
               accordance with clause 8.15 or on exchange of letters signed by a
               Boston Director and an AAC Director  confirming  mutual agreement
               on any question, shall be as effectual and binding on the parties
               as an agreement  reached and recorded at a duly convened  meeting
               of the Board.

Appointment of Chief Executive

          8.18 Boston  agrees that it will not seek to remove  Graham  Newall as
               chief  executive  officer  of the  Company  for a period of three
               years from the date of this agreement.

<PAGE>

9.        Mutual covenants

          9.1  Each of the  Shareholders  hereby  covenants  and agrees with the
               others as follows, namely:

              9.1.1 to be just and  faithful  to the  other in all  transactions
                    relating to the  Company  and to give a true  account of the
                    same to it when  and as often  as some  shall be  reasonably
                    required;

              9.1.2 upon every  reasonable  request  being made of it, to inform
                    the  others of all  matters,  accounts.  writings  and other
                    things which it may have become  possessed of concerning the
                    Company;

              9.1.3 to punctually pay and discharge  their,  respective  present
                    and future  separate debts and  engagements and at all times
                    to indemnity and keep indemnified the others and the Company
                    from and against  all losses and damages  which may arise in
                    respect  thereof  and  in  respect  of  any  breach  of  the
                    obligations  imposed on the  Shareholders and without in any
                    way limiting the generality of the foregoing, all losses and
                    damages which may arise from the  Shareholder  entering into
                    any   contract,   pledging   any  credits,   incurring   any
                    liabilities.   assuming  any   obligations   or  making  any
                    warranties or representations whatsoever for or on behalf of
                    the other  Shareholder  without the  necessary  authority or
                    power to do so-, and

              9.1.4 immediately  upon  receipt  of any monies  belonging  to the
                    Company,  to pay such  monies  into the bank  account of the
                    Company.

          9.2  Each of the  Shareholders  will exercise their powers in relation
               to the Company so as to ensure that all  matters  concerning  the
               running  of the  Company  including  matters to be decided by the
               Board  and  matters  to be  decided  by the  shareholders  of the
               Company in general meeting will not be, resolved upon without the
               agreement of each of Boston and Argonaut.

          9.3  None of the Shareholders shall,  without the consent and approval
               of the other Shareholder in writing:

              9.3.1 give any  credits  and/or  lend any  monies on behalf of the
                    Company to any person, firm, company or entity other than in
                    the  ordinary  course of business  conducted in a normal and
                    proper manner,

<PAGE>

              9.3.2 except  as  herein   provided,   sell,   assign,   transfer,
                    mortgage, discharge, pledge, deal with or otherwise encumber
                    or dispose of any of its  respective  shares in the  Company
                    without the written consent of the other Shareholders;

              9.3.3 except as herein provided,  assign,  draw, accept or endorse
                    any negotiable instrument on account of the Company;

              9.3.4 compound,  release or discharge  any debt which shall be due
                    or owing to the Company  without  receiving  the full amount
                    thereof,

              9.3.5 guarantee,  become bailee, surety or security or any person,
                    firm, company or entity or do or knowingly suffer to be done
                    anything  whereby the Company's  business or property may be
                    endangered, attached or taken in execution;

              9.3.6 incur  any  liabilities  on  behalf  of the  Company  and/or
                    employ any of the monies  and/or the effects  thereof  other
                    than in the  ordinary  course  of  business  conducted  in a
                    normal and proper manner.

10. Disposition

In  consideration  of the mutual  covenants  and  obligations  contained in this
agreement,  the parties hereto  acknowledge  and agree that for the term of this
agreement, there shall be no sale, transfer, assignment or other disposal in any
manner  whatsoever of any legal or beneficial  interest in the Shares other than
pursuant to the provisions of this agreement and that any  disposition  shall be
of no effect unless and until the assignee or transferee  consents and agrees in
writing to be bound by the terms of this agreement.

11. Pre-emption

If at any time during the term of this  agreement  any of the  Shareholders  (in
each case the Grantor) wishes to dispose of all or part of its Shares any of the
other  Shareholders  (in each case the  Grantees)  shall have the first right to
purchase the some upon the owing terms and conditions:

          11.1 The Grantor  shall give notice in writing to the  Grantees  (Sale
               Notice)  of its  desire  to  sell  all  or  part  of  its  Shares
               (Interest)  on those  terms  and at the Price  (as  specified  in
               clause  11-7) upon which the  Grantor is  desirous of selling the
               Interest. Every such Sale Notice shall remain open for acceptance
               in whole or in part for 60 days from the date of  receipt  of the
               Sale  Notice  and,  if not so  accepted,  shall be  deemed  to be
               declined as to the whole or balance of the Shares as the case may
               be. Any such acceptance shall be made in writing addressed to the
               Grantor (Purchase Notice).

<PAGE>

          11.2 Upon receipt of a Purchase  Notice,  a concluded  contract of the
               sale and purchase of the Shares specified in the Purchase Notice,
               free  from  cat  encumbrances.  shall  forthwith  be  constituted
               between the Grantor and the Grantee on those terms and conditions
               set out in this  agreement and  providing for  settlement to take
               place  within  180 days from the date of  giving of the  Purchase
               Notice by the Grantee to the Grantor or such other period of time
               as shall be agreed upon by the parties in writing.

          11.3 Any Shares which shall be declined, or deemed declined, by any of
               the Grantees shall be offered in the some manner and  proportions
               and at the same price to those of the Grantees who have  accepted
               Shares originally offered to them and so on until oil the. Shares
               have been  accepted or it shall  appear that none of the Grantees
               is willing to take up any further Shores.

          11.4 In the event that not all of the Shores have been accepted by the
               Grantees, then the Grantor shall have the right within the period
               of six  calendar  months  from  the  date  upon  which 4  becomes
               apparent  that such Shares  have not been  accepted to sell those
               Shores to any other  person as it shall  think fit at a price not
               lower than the price as set out in the Sale Notice and upon terms
               no more  advantageous  to the  purchaser of the Interest than the
               terms specified in the Sale Notice.

          11.5 If  after the  expiration  of the period  referred  to in clause
               11.4, the Grantor  wishes to sell the Shores  referred to in that
               clause  11.4 at a lower cash  price.  or on  different  terms and
               conditions,  it shall first make a fresh offer to the Grantees at
               such lower price or upon such  different  terms and conditions in
               accordance with the foregoing provisions of this section 9.

          11.6 All notices shall be given,  in accordance with the provisions of
               clause 16.

          11.7 The Grantor and the Grantees  agree that the Price referred to in
               clause  11.1,  upon which the  Grantor is desirous of selling the
               interest, shall be the "market value" of the Interest at the date
               of such offer of sale by the Grantor to the Grantees,  such value
               being the  price at which the  Grantor  is  prepared  to sell the
               interest to the public.

          11.8 In the event of either:

               11.8.1 the appointment of a receiver and/or manager or liquidator
                    to any of the Shareholders:

               11.8.2 a change in the Effective Control of a Shareholder, then a
                    notice  pursuant to clause 11.1 shall be deemed to have been
                    given by the  relevant  Shareholder  of the  Company and the
                    provisions of this clause 11 shall, mutatis mutandis, apply.

12. Non competition

          12.1 In the event that:

               12.1.1  a  Shareholder  (Seller)  sells,  transfers,  assigns  or
                    disposes of its Shares, or any part thereof,  in the Company
                    otherwise than to a Related Corporation; or

               12.1.2 as  a  direct  or  indirect  result  of a  breach  of  the
                    obligations   under   this   agreement   by  a   Shareholder
                    (Defaulter),  the Company is wound up or becomes  subject to
                    external administration,

the Seller or the  Defaulter (as the case may be) shall not operate or engage in
a business in  competition  with that  conducted by the Company  anywhere in the
world  (Territory) for a period of one year (Restriction  Period)  commencing on
the Date of  Completion  of the sale,  transfer,  assignment  or disposal of the
share or on the date on which the Company is wound up or first  becomes  subject
to external administration.

<PAGE>

          12.2 The parties hereto  acknowledge  that the Restriction  Period and
               the  Territory  are no greater  than are  reasonably  required to
               protect  the  goodwill,  the  business  and Trade  Secrets of the
               Company  and the  parties  hereto  not  being  the  Seller or the
               Defaulter (as the case may be).

          12.3 None of the Shareholders shall hold or acquire an interest in any
               other  business  which operates in the Territory and which in any
               way competes  with or is similar in nature to the business of the
               Company  without first obtaining the written consent of the other
               parties hereto.

13. Termination

          13.1 This agreement shall continue in effect until terminated pursuant
               to the  provisions  of  this  agreement  or by  mutual  agreement
               between the Shareholders.

          13.2 If a  Shareholder  commits  a  material  breach  of  any  of  its
               obligations  under this  agreement,  which breach is not remedied
               within 28 days after  notice  requiring  remedy has been given to
               such  Shareholder,  then  the  other  Shareholders  may  deem the
               defaulting  Shareholder  to have  offered  to  sell to the  other
               Shareholders  oil  of  its  or  his  Shares  in  the  Company  in
               accordance  with clause 11 hereof,  in which case the provisions
               of some shall, mutatis mutandis, apply.

 14. Confidentiality

Each of the parties shall at all times:

          14.1 maintain  absolute  confidentiality  in  relation  to  the  Trade
               Secrets  and shall not  divulge  any Trade  Secrets to any person
               except to the extent  necessary for the operation of the business
               of the Company; and

          14.2 not  utilize  the Trade  Secrets  for its own  benefit or for the
               benefit of any person other than the owner of the Trade Secrets.

15. Successors and assigns

The obligations and liabilities imposed and the rights and benefits conferred on
the  parties  under  this  agreement  shall be  binding  upon and  inure for the
respective parties and each of their respective legal personal  representatives,
successors in title, transferees and permitted assigns provided however that the
aforesaid obligations and liabilities and rights and benefits shall not be sold.
assigned,  transferred  or  otherwise  dealt With or  disposed  of by any of the
parties except in accordance  with the terms of this agreement or with the prior
written consent and approval of the other parties.

16. Notice

          16.1 Any notice or other communication to or by any party shall be:

               16.1.1 in writing and in the English language;

               16.1.2 addressed  to the address of the  recipient  shown in this
                    agreement or to such other  address as It may have  notified
                    the sender; and

               16.1.3 signed by the  party or by an  Authorized  Officer  of the
                    sender.

          16.2 In addition to any means authorized by low any  communication may
               be given by:

               16.2.1 being personally served on a party;

               16.2.2 being left at the party's current address for service;

<PAGE>

               16.2.3 being sent to the party's  current  address for service by
                    prepaid  ordinary  mail or if the  address  is  outside  the
                    country of the principal  place of business to the sender by
                    prepaid airmail: or

               16.2.4 facsimile to the party's current numbers for service.

          16.3 A  communication  shall be deemed  duly given or mode in the case
               of:

               16.3.1 delivery in person, when delivered;

               16.3.2 delivery by post:

                    16.3.2.1 to an address in the some country as the country of
                         the principal  place of business of the sender,  on the
                         second Business Day after posting; or

                    16.3.2.2 in any other case on the tenth  Business  Day offer
                         posting; or

               16.3.3 a facsimile  upon a  transmission  report being printed by
                    the sender's  facsimile  machine  stating that- the document
                    has been sent to the recipient's  facsimile  number;  but if
                    delivery is not mode  before 5.00 p.m. on a Business  Day it
                    shall be deemed to be received on the next  Business  Day in
                    that place.

               16.4 The addresses and numbers for service are initially:

Argonaut
Address:                c/o 2nd Floor, 14-16 Regent Street, London SW 1 Y 4PY
Facsimile:              0207 976 1833
Attention:              Lord Edward Timothy Razzall
Boston:
Address:                Asian Management Services, 111 North Bridge Road, 18-
                        01 Peninsula Plaza, Singapore 179098, Singapore
Facsimile: +65 63336 0200
Attention: Duncan Merren

The Company:

Address.                c/o Terrance Drive, El Ceritto, California CA 04530, USA
Facsimile:              001707 575 0583
Attention:              Elizabeth Lehrer. company secretary

Pay2:
Address:               c/o Exchange House, 54-58 Atholl Street, Douglas, Isle of
                       Man, IM1 I JD

Facsimile:             01624 616 175
Attention,             Richard Minchin

 AAC:
Address:               c/o Popabasiliou House, PO Box 27007, 70 John F Kennedy
                       Avenue. Nicosia, Cyprus CY 1641
Facsimile:             00357 2493000
Attention:             Karlos Zongoulos

          16.5 A party may from time to time  change its  address or numbers for
               service by notice to the other party.

<PAGE>

17. Severance

If any  provision of this  agreement  shall be or be  determined  to be illegal,
invalid.  void or voidable  the  legality or validity of the  remainder  of this
agreement will not be affected and will continue in full force and effect.

18. Arbitration

18.1 In the event that of any time during the  continuance  of this agreement or
at any time thereafter,  any doubt,  difference,  question or dispute whatsoever
(Dispute) arises between the parties,  whether in relation to the interpretation
of this agreement or to any of the respective rights, benefits,  obligations and
liabilities of any of the parties under this  agreement or otherwise,  then such
Dispute  shall  be  referred  for  determination,  under  and  pursuant  to  the
provisions  of and conducted in accordance  with the  Arbitration  Act 1996 by a
single  arbitrator in London to be agreed  between the parties or,  foiling such
agreement  within 30 days of a request by either party to appoint an arbitrator,
by an arbitrator  appointed by the President for the time being.  or next senior
officer available, of The Low Society of England and Wales. The decision of such
arbitrator will be final and binding on the parties.

18.2 Each party to any arbitration shall be entitled to legal  representation at
the  arbitration  proceedings,  and the  arbitrator  shall make his  decision in
writing  within one month after  entering on the  reference  or on or before any
later date to which the arbitrator may enlarge the time for making the decision.

19. Governing law

This agreement is made and shall be governed by,  construed in accordance  with,
the  lows  of  England  and  each  of the  parties  irrevocably  submits  to the
jurisdiction of the courts of England.

20. Counterparts

This  agreement  may be  executed  in any  number of  counterparts  and all such
counterparts  token  together  shall be  deemed to  constitute  one and the some
instrument.

21. Merger provisions

Notwithstanding  completion of this agreement,  all covenants,  undertakings and
representations  given or mode by any party under or by this agreement,  and all
obligations of any party under this agreement  which are of a continuing  nature
or are not fully  satisfied  and  discharged on  completion,  shall not merge on
completion and shall remain in hill force and effect.

22. Further assurances

Each party shall take all steps and do all such acts and  execute all  necessary
documents  within their powers as may be reasonably  required by any other party
to give effect to this agreement.

23. Waiver

          23.1 A right in favor of a party under this agreement,  subject to any
               express  provision  of this  agreement  to the  contrary,  may be
               waived prospectively or retrospectively by writing signed by that
               party.

          23.2 No other  act.  omission  or delay by a party will  constitute  a
               waiver of a right.

24. Variation of agreement

The parties  acknowledge  that the  provisions of this  agreement may need to be
considered  more fully with the applicable low of the state of Nevada and in the
case of any conflict  between this  agreement and the laws of Nevada the laws of
Nevada* will prevail.  The parties  further agree that once they have considered
the legal advice relating to the laws of Nevada it may be necessary to produce a
supplemental agreement. This agreement may be varied or modified only by writing
executed by all of the parties.

<PAGE>

                                   Schedule 1
                         Definitions and Interpretations

                                   (Clause 1)

1. The  provisions of Schedule 1 apply to the  interpretation  of this agreement
including the schedules.

2. In this  agreement,  unless the  subject or context  requires  otherwise  the
following words and phrases have the following meanings:

Articles of Association       the articles of association or constitution of the
                              Company.

Associate                     in relation to an individual, any spouse, son.
                              daughter, grandchild brother, sister or parent or
                              any company which is or may be directly or
                              indirectly controlled by any of them or by any
                              two or more of them and for the purpose of this
                              definition control has the meaning set out in
                              section 416 Income and Corporation Taxes Act
                              1988; and in relation to a company, any
                              subsidiary or holding company of a company
                              and any subsidiary of any holding company of
                              such company.

Authorized Officer            of a party which is a corporation:

3. an employee of the party whose title contains either of the words  "Director"
or "Manager";

4. a person performing the function of any of them:

5. a solicitor acting on behalf of the party; or

6. a person  appointed  by the  party to act as an  Authorized  Officer  for the
purposes of this agreement and notified to the others:

and an Authorized  Officer of a party which is a partnership means any - partner
in the partnership.

       Board                        the board of directors of the Company.
       Boston Director              a director appointed by Boston in accordance

<PAGE>

with the Articles of Association of the Company and this agreement.

Boston License Agreement      the license agreement referred to in clause 4.3.4.

Company                       Paygard Inc, formerly, Total Horizon Inc.

Completion                    completion of the transactions referred
                              to in clauses 4.2 and 4.3.

Completion Date               the business day following the day on which all
                              of the Conditions Precedent are either satisfied
                              or waived.

Conditions                    Precedent  the   conditions   precedent
                              referred  to  in  clause  3.1  of  this
                              agreement  and set out in clause 2.1 of
                              the HOA.

Director                      a director of the Company.

Effective Control             in relation to any party:

l. control of the composition of the Board of Directors of that party;

2. control of more than one halt of the voting power of that party;

3.  control  of more than one halt of the  issued  share  capital  of that party
(excluding  any part  thereof  which  carries no right to  participate  beyond a
specified amount in the distribution of either profit or capital);

4. where the party is a trustee of a unit  trust,  control of more than one half
of the issued units in the trust: and

5.  in the  case of a  party  being a  trustee  of a  discretionary  trust,  the
additional  replacement of any beneficiary to the class of beneficiaries of that
trust.

HOA                                      the  heads of  agreement  dated 10 July
                                         2003   between   the  parties  to  this
                                         agreement as attached to this agreement
                                         as appendix 1.

Intellectual Property Rights             all patents, utility models, know-how,
                                         trademarks, service marks, trade names,
                                         domain names,  registered  designs,
                                         design rights, copyrights,  database
                                         rights  or  other  similar  industrial,
                                         intellectual  or  commercial fight
                                         subsisting  anywhere in. the world and
                                         all applications for any of them.

Members                                  a member of the World Games
                                         organization.

MSL                                      Miramas  Services  Limited,  a  company
                                         incorporated in Guernsey.

Pay 2 card System                        A digital electronic debit card
                                         provided to the Members.

<PAGE>

AAC Director                             a director appointed by AAC in
                                         accordance   with   the   Articles   of
                                         Association  of the  Company  and  this
                                         agreement.

Quotation                                admission  of the  shores to trading on
                                         the over the counter  dealing  facility
                                         in the USA.

Related Corporation                      any other corporation that is deemed to
                                         be related to a party hereto by virtue
                                         of the provisions of any relevant
                                         legislation in the  United States of
                                         America, England, the Isle of  Man or
                                         any other relevant jurisdiction as
                                         amended from time to time, any
                                         re-enactment thereof and any statute in
                                         substitution therefore.

Shareholders                             AAC,    Argonaut   and   Boston,    and
                                         Shareholder means either of them.

Shares                                   a share of USUS $0.001 in the capital
                                         of the Company.

Trade Secrets                            the method of operation of the Company:

                    design,  formulae,   patents,  drawings,  plans,  processes,
                    procedure,  contracts,  agreements,  financial  details  and
                    other documentation and information developed and/or used by
                    the Company  and its  employees  for use in its  business or
                    developed  by a  party  and  its  employees  for  use in the
                    business; the names of the franchisees, customers, suppliers
                    and  clients of the  Company  and/or  details in relation to
                    such parties' characteristics, requirements and arrangements
                    with the Company and any related corporation: details of and
                    information  relating  to the  current  negotiations  of the
                    Company  and/or  any  related  corporations  with any of the
                    aforementioned   parties   and  other   trade   secrets  and
                    confidential information of those parties.

3. in this agreement, unless the subject or context requires otherwise:

          3.1  words  importing  the singular  shall mean and include the plural
               and vice versa,

          3.2  words  including  any one  gender  shall mean and  include  other
               genders
                               and vice versa;

          3.3  words   importing   natural   persons   shall  mean  and  include
               corporations and unincorporated associations and vice versa:

          3.4  the headings are for  convenience of reference only and shall not
               be construed as affecting the meaning or  interpretation  of this
               agreement;

<PAGE>

          3.5  all  references in this  agreement to any statutory  enactment or
               law shall mean and be construed as references  to that  enactment
               or law as amended or modified or reenacted  from time to time and
               to the corresponding  provisions or any similar enactment or more
               of any other relevant jurisdiction;

          3.6  all references in this agreement to sections,  articles. clauses,
               subclauses,  paragraphs and schedules shall mean and be construed
               as references to those sections,  articles, clauses,  subclauses,
               paragraphs and schedules of this agreement.

<PAGE>

Executed as an agreement by Lord Edward Razzall on behalf of Argonaut Associates
in the presence of.

Witness' signature:

Witness' name:

Address:

Occupation:

Executed as an agreement
by John Anthony Mitchell
on behalf of Argonaut Associates
in the presence of,

Witness' signature:

Witness' name:

Address:

Occupation:

Executed as an agreement
by Boston Fidelity Limited

Executed as an agreement
by Paygard, Inc.

Director

Executed as an agreement
by Pay2 Limited

Director

Executed as an agreement
by Argonaut Associates Limited

Director

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