Document:

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                                 LEASE AGREEMENT

                                 By and Between

                                FLEET BANK, N.A.

                                    Landlord

                                       and

                         PREMIER RESEARCH WORLDWIDE LTD.

                                    as Tenant

                            Dated as of: May 14, 1999

                      Property location: 1125 Route 22 West
                                         Bridgewater, NJ

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                                TABLE OF CONTENTS

                                                                          Page
                                                                          ----
Article 1               - Premises                                          1

Article 2               - Term, Option                                      1

Article 3               - Rent; Additional Rent; Security Deposit           1

Article 4               - Possession; Quiet Enjoyment                       4

Article 5               - Use of Premises                                   4

Article 6               - Taxes                                             4

Article 7               - Insurance                                         4

Article 8               - Indemnification                                   5

Article 9               - Utilities and Services: Parking                   5

Article 10              - Repairs and Maintenance                           6

Article 11              - Alterations                                       6

Article 12              - Trade Fixtures                                    6

Article 13              - Mechanic's Liens                                  7

Article 14              - Damage and Destruction                            7

Article 15              - Condemnation                                      8

Article 16              - Environmental Provisions                          8

Article 17              - Signs and Advertisements                          9

Article 18              - Entry by Landlord                                 9

Article 19              - Assignment and Subletting                         9

Article 20              - Subordination/Estoppel                            10

Article 21              - Default                                           10

Article 22              - Return of Premises; Holdover                      13

Article 23              - Notices                                           13

Article 24              - Broker's Commissions                              14

Article 25              - Limitation of Landlord's Liability                14

Article 26              - Rules and Regulations                             14

Article 27              - Recording of Lease                                14

Article 28              - Miscellaneous                                     14

Exhibits
--------

EXHIBIT A               - Premises

EXHIBIT B               - Tenant Improvements

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                                 LEASE AGREEMENT
                             SUMMARY OF LEASE TERMS

DATE OF EXECUTION:                          May 14, 1999

LANDLORD:                                   Fleet Bank, N.A.

TENANT:                                     Premier Research Worldwide Ltd.

BUILDING ADDRESS:                           125 Route 22 West
                                            Bridgewater, NJ

PREMISES:                                   Approximately 14,088 rentable square
                                            feet

PERMITTED USE OF PREMISES:                  General Office Purposes

COMMENCEMENT DATE:                          May 1, 1999

RENT COMMENCEMENT DATE:                     August 1, 1999

TERMINATION DATE:                           April 30, 2006

ANNUAL RENT                                 Years 1-2         $253,584.00
                                            Years 3 -5        $281,760.00
                                            Years 6-7         $295,848.00

BASE YEAR:                                  1999

TENANTS PROPORTIONATE SHARE:                14.71%

OPTION:                                     One (1) additional term of five (5)
                                            years.

LANDLORD'S ADDRESS FOR NOTICES:             Fleet Bank, N.A.
                                            Corporate Properties Transactions
                                            Group
                                            MA OF 0803
                                            Attn:  Director of Real Estate
                                                   Transactions
                     if by U.S. Mail:       P.O. Box 2197
                                            Boston, MA  02106-2197
if by Fedex or other private courier:       One Federal Street
                                            Boston, MA 02110-2010
                       with copy to
                       Legal Counsel:       Fleet Financial Group
                                            Legal Department, MA BO F10C
                                            Attn:  Real Estate Legal Counsel
                     if by U.S. Mail:       P.O. Box  2197
                                            Boston, MA  02106-2197

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  if by Fedex or other private courier:     75 State Street
                                            Boston, MA  02109

LANDLORD'S ADDRESS FOR PAYMENTS:            Fleet Bank, N.A.
                                            c/o CB Richard Ellis
                                            Department 842
                                            P.O. Box 40,000
                                            Hartford, CT 06151-0842

TENANT'S ADDRESS FOR NOTICES:               Premier Research Worldwide Ltd.

                with copy to:               James H. Carll, Esquire
                                            Archer & Greiner
                                            One Centennial Square
                                            Haddonfield, NJ 08033-0968

EXHIBITS: The following Exhibits are attached hereto and made a part of this
lease agreement by reference thereto:

Exhibit A - Premises
Exhibit B - Tenant Improvements

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                                 LEASE AGREEMENT

This LEASE AGREEMENT ("Lease"), dated as of this 14 day of, May 1999, is made by
and between Fleet Bank, N.A.("Landlord") with an address of c/o Corporate
Properties, MA OF 0803, P.O. Box 2197, Boston, MA 02106-2197, and Premier
Research Worldwide Ltd. having an address at 30 South 17th Street, Philadelphia,
PA 19103 ("Tenant").

                              Article 1 - Premises

         Section 1.01. Landlord hereby leases to Tenant, and Tenant hereby
leases from Landlord, for the term and subject to the covenants, agreements and
conditions hereinafter set forth, those certain premises consisting of
approximately 14,088 square feet of space, known as (the "Premises"), shown on
Exhibit A attached hereto, and consisting of a portion of the first floor of the
building ("Building") located at 1125 Route 22 West, Bridgewater, NJ (the
Building and the land upon which it is situated hereinafter collectively, the
"Property").

         Section 1.02. Landlord hereby also grants to Tenant the non-exclusive
right to use the common areas associated with the Building (the "Common Areas"),
which are defined herein as all areas and facilities outside the Premises
contained in or related to the Building that are provided for the general use
and convenience of Tenant and of other tenants of rental space in the Building
and their respective agents, invitees and customers. The Common Areas may
include, without limitation, pedestrian walkways, restrooms, stairways,
landscaped areas, sidewalks, service corridors, throughways, common lobbies,
elevators and private roads servicing the Building. The Common Areas shall not
include any parking facilities except, that Tenant shall have the non-exclusive
right to use no more than 56 parking spaces, as provided in Section 9.02. The
Landlord makes no representations or warranties as to what shall from time to
time constitute the Common Areas and reserves the right at its sole discretion
to alter and reconfigure the Common Areas provided that Tenant's access to the
Premises is not materially impaired.

                                Article 2 - Term

         Section 2.01. The initial term (the "Initial Term") of this Lease shall
commence on May 1, 1999 (the "Commencement Date") and, subject to earlier
termination or extension as hereinafter provided, end on April 30, 2006 (the
"Expiration Date").

         Section 2.02. Provided that this Lease is in full force and effect and
Tenant is not in default of its obligations hereunder either at the time of the
exercise of its rights hereunder or at the commencement of the Additional Term
(as herein defined), Tenant shall have the right to extend the term of this
Lease for one (1) additional five (5) year period (the "Additional Term") at the
rental rate described in Section 3.02 below. The Initial Term and the Additional
Term together shall constitute the "Term". Tenant shall exercise such right by
sending written notice to Landlord no later than September 30, 2005. If Tenant
fails to so notify Landlord, then its rights hereunder shall lapse and be of no
further force and effect. Time shall be of the essence.

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               Article 3 - Rent; Additional Rent; Security Deposit

         Section 3.01. Commencing August 1, 1999 and continuing through July 31,
2006, Tenant agrees to pay to Landlord annual rent ("Base Rent") for the use of
the Premises, in lawful money of the United States without advance notice,
demand, offset or deduction as follows: During the first and second years of the
Initial Term, Tenant agrees to pay Landlord Base Rent in the amount of Two
Hundred Fifty Three Thousand Five Hundred Eighty Four Dollars ($253,584.00)
payable in equal monthly installments of Twenty One Thousand One Hundred Thirty
Two Dollars ($21,132.00); during the third, fourth and fifth years of the
Initial Term, Tenant agrees to pay Landlord Base Rent in the amount of Two
Hundred Eighty One Thousand Seven Hundred Sixty Dollars ($281,760.00) payable in
equal monthly installments of Twenty Three Thousand Four Hundred Eighty Dollars
($23,480.00); during the sixth and seventh years of the Initial Term, Tenant
agrees to pay Landlord Base Rent in the amount of Two Hundred Ninety Five
Thousand Eight Hundred Forty Eight Dollars ($295,848.00), payable in equal
monthly installments of Twenty Four Thousand Six Hundred Fifty Four Dollars
($24,654.00). All installments of Base Rent shall be payable on the first day of
each month in advance to the Landlord at the following address: Fleet Bank,
N.A., c/o CB Richard Ellis, Department 842, P.O. Box 40,000, Hartford, CT
06151-0842. During the period May 1, 1999 through July 31, 1999, provided that
Tenant is not in default of its obligations under this Lease at any time during
such period, Tenant's obligation to pay Base Rent and Additional Rent shall be
abated and Tenant's obligation to pay rent shall commence on August 1, 1999
("Rent Commencement Date").

         Section 3.02. In the event that Tenant exercises its option to extend
the term of the Lease as provided in Section 2.02, the annual Base Rent for such
Additional Term shall be the then Fair Market Rental Value, as hereinafter
defined, of the Premises, but in no event shall it be less than $295,848.00. The
Fair Market Rental Value of the Premises, as of any date, is defined as the
rental rates then being charged for untenanted premises otherwise similar to the
Premises in Bridgewater, NJ within five (5) miles of the Premises. Tenant shall
have the right to request from the Landlord, nine (9) months prior to the
expiration of the then term of the Lease, Landlord's opinion as to the Fair
Market Rental Value of the Premises, and Landlord shall respond in writing
within thirty (30) days. If Landlord and Tenant have not agreed upon a
designation of a Fair Market Rental Value on or before three months prior to the
commencement of such Additional Term, Landlord and Tenant each shall have the
right, by written notice given to the other, to submit such Fair Market Rental
Value to arbitration. Fair Market Rental Value shall be submitted to arbitration
as follows: Fair Market Rental Value shall be determined by impartial
arbitrators, one to be chosen by Landlord, one to be chosen by Tenant, and a
third to be selected, if necessary, as below provided. The unanimous written
decision of the two first chosen, without selection and participation of a third
arbitrator, or otherwise, the written decision of a majority of three
arbitrators chosen and selected as aforesaid, shall be conclusive and binding
upon Landlord and Tenant. Landlord and Tenant shall each notify the other of its
chosen arbitrator within ten (10) days following the call for arbitration and,
unless such two arbitrators shall have reached a unanimous decision within
thirty (30) days after their designation, they shall notify the President of the
American Arbitration Association (or such organization as may succeed to said
American Arbitration Association) and request it to select an impartial third
arbitrator, who shall be an office building owner, a real estate counselor or a
broker dealing with like types of properties, to determine Fair Market Rental
Value as hereinabove defined. Such third arbitrator and the first two chosen
shall, subject to the commercial arbitration rules of the American Arbitration
Association, hear the parties and their

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evidence and render their decision within thirty (30) days following the
conclusion of such hearing and notify Landlord and Tenant thereof. Landlord and
Tenant shall bear the expense of the third arbitrator (if any) equally. The
decision of the arbitrators shall be binding and conclusive and judgment upon
the award or decision of the arbitrators may be entered in any federal or state
court located in New Jersey; and the parties consent to the jurisdiction of such
court. If the dispute between the parties as to the Fair Market Rental Value has
not been resolved before the commencement of the Additional Term then Tenant
shall pay Base Rent based upon the annual Base Rent in effect immediately prior
to the commencement of the Additional Term in question until either the
agreement of the parties as to the Fair Market Rental Value, or the decision of
the arbitrators, as the case may be, at which time Tenant shall pay any
underpayment to Landlord.

         Section 3.03. Increase in Operating Costs and Taxes Over Base Year.

(a) In the event that the amount of Operating Costs (hereinafter defined) during
any calendar year subsequent to the calendar year in which the Commencement Date
occurs (the "Operating Cost Base Year") shall exceed the Operating Base Year
Operating Costs, Tenant shall pay to Landlord, as additional rent (hereinafter
called "Additional Rent"), Tenants Proportionate Share, as hereinafter defined,
of such excess, prorated for the last year of the term of the Lease. "Operating
Costs" shall mean all reasonable costs incurred and expenditures made by
Landlord (including costs and expenditures for outside contractors, and
contractors who may be affiliated with Landlord to the extent that the contracts
are at reasonable rates consistent with the type and quality of the services
rendered) in the operation and management, for repairs, replacements, and
improvements, or for cleaning and maintenance of the Property including, without
limitation, parking areas, driveways and walkways on or related to the Property,
related equipment, facilities and appurtenances, elevators, cooling and heating
equipment owned by Landlord; and electricity deregulation compliance costs.
Operating Costs shall also include any costs directly or indirectly to ensure
that any building system (including, without limitation, elevator equipment,
security devices, alarm systems, HVAC equipment and utility equipment) will
accurately process date and/or time data relating to the year 2000 ("Y2K
Costs"). Notwithstanding the fact that under generally accepted accounting
practices, these Y2K Costs may be treated as capital expenditures, such costs
shall be deemed to be Operating Costs under this section. If less than 95% of
the rentable square feet in the Building is rented or occupied at any time
during the Operating Cost Base Year, Operating Costs for such Base Cost Year
shall be an amount equal to the Operating Costs which would normally be expected
to be incurred had 95% of the Building's rentable square feet been occupied and
had Landlord been supplying services to 95% of the Building's rentable square
feet throughout such Base Cost Year. Operating Costs shall not include the
following items:

         (i)      Any ground lease rental;

         (ii)     Costs of capital repairs or capital replacements, capital
                  improvements and equipment, including those incurred as
                  electricity deregulation compliance costs and Y2K Costs,
                  except where such capital repair, improvement, equipment or
                  replacement results in a net reduction in Operating Costs
                  after the cost of the improvement or replacement is amortized
                  and charged to Tenant over the useful life of the improvement
                  or replacement;

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         (iii)    Rentals for items (except when needed in connection with
                  normal repairs and maintenance of the of the Building which
                  shall be permitted) which if purchased, rather than rented,
                  under generally accepted accounting principles would
                  constitute a capital improvement, except where such item
                  results in a net reduction in Operating Costs after the cost
                  of the rental is charged to Tenant;

         (iv)     Costs incurred by Landlord for the repair or replacement of
                  damage to the Building or its contents cause by fire or other
                  casualty in excess of any applicable deductible under the
                  insurance policy covering the loss or damage;

         (v)      Costs, including permit, license and inspection costs,
                  incurred with respect to the installation of Tenant's or other
                  occupants improvements made for Tenant or other occupants in
                  the Building or incurred in renovating or otherwise improving,
                  decorating, painting or redecorating vacant space for Tenant
                  or other occupants of the Building;

         (vi)     Depreciation, amortization, lender's fees and interest
                  payments;

         (vii)    Leasing commissions, attorneys' fees, space planning costs and
                  other costs and expenses in connection with negotiation of
                  this Lease and with other present or prospective tenants of
                  other occupants of the Building;

         (viii)   Costs in connection with services or other benefits which are
                  not offered to Tenant but which are provided to another tenant
                  or occupant of the Building;

         (ix)     Costs incurred by Landlord due to the violation by Landlord or
                  any tenant or occupant of Building (other than Tenant) of the
                  terms and conditions of any lease of space in the Building;

         (x)      All items and services for which Tenant or any tenant or
                  occupant of the Building reimburses Landlord (other than
                  through Tenant's proportionate share of Operating Costs), or
                  which Landlord provides selectively to one or more tenants or
                  occupants (other than Tenant) without reimbursement;

         (xi)     Advertising and promotional expenditures, and the costs of
                  acquiring and installing signs in or on the Building
                  identifying the owner of the Building or any tenant or
                  occupant of the Building other than expenditures for the
                  repair and maintenance of existing signage;

         (xii)    Any costs associated with gift taxes, excise taxes, profit
                  taxes or capital levies;

         (xiii)   Tax penalties incurred as a result of Landlord's negligence,
                  inability or unwillingness to make payment when due, not
                  attributable to Tenant's failure to make payments to Landlord
                  for such items in accordance with the Lease;

         (xiv)    Any and all costs arising from the presence of Hazardous
                  Substances (defined in Article 16) now or hereafter pertaining
                  to the Building in or about the Building including, without
                  limitation Hazardous Substances in the groundwater or soil;

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         (xv)     Costs to repair defects in any of the tenant improvements
                  installed by Landlord in the Premises or to maintain the
                  structural portions of the Building;

         (xvi)    Capital costs for sculpture, paintings or other objects of
                  art;

         (xvii)   Costs (including all related attorney's fees and costs of
                  settlements, judgments and any payments in lieu thereof)
                  arising from claims, disputes or potential disputes between
                  Landlord and other tenants of the Building;

         (xviii)  Landlord's general corporate overhead;

         (xix)    Costs of any items for which Landlord is reimbursed by
                  insurance, or otherwise compensated by parties other than
                  tenants of the Building;

         (xx)     Costs for any separate utility meters Landlord may install for
                  other tenants of the Building, unless the installation is
                  required by a utility company or government entity;

         (xxi)    Costs for construction for Landlord to comply with or
                  penalties assessed against Landlord for Landlord's
                  noncompliance with, the Americans with Disabilities Act of
                  1990 (42 U.S.C. sec. 1281-1283);

         (xxii)   Installation costs of sprinklers, whether required now or in
                  the future; except where such installation results in a net
                  reduction in Operating Costs, including but not limited to
                  insurance costs, after the cost of the installation is
                  amortized and charged to Tenant over the useful life of the
                  installation;

         (b) In the event that the amount of Property Taxes (hereinafter
defined) which are due to any taxing authority during the term of this Lease, in
any fiscal year subsequent to the year in which Commencement Date occurs (the
"Property Tax Base Year") shall exceed the Property Tax Base Year Property
Taxes, Tenant shall pay to Landlord, as Additional Rent, Tenant's Proportionate
Share, as hereinafter defined of such excess, prorated for the last year of the
term of the Lease. "Property Taxes" shall mean the sum of the real estate taxes
(including, without limitation, school and town taxes), payments in lieu of
taxes, water assessments, water rents, sewer assessments, governmental levies,
charges, impositions, or agreements, assessments and special assessments imposed
upon the Premises and any rights or interests appurtenant to either, whether
general or special, ordinary or extraordinary, foreseen or unforeseen
(including, without limitation, any tax, excise or fee measured by or payable
with respect to any rent levied against Landlord and/or all or any portion of
the Property). Property Taxes shall include all such amounts levied during the
Term of this Lease even if such taxes are billed after the Expiration Date, and
Tenant's obligations with respect thereto shall survive the termination of this
Lease. If at any time during the Term of this Lease the methods of taxation
prevailing at the commencement of the Term shall be altered so that in lieu of
or as an addition to or as a substitute for the whole or any part of the taxes,
assessments, levies, impositions or charges now levied, assessed or imposed on
real estate and the improvements thereon, there shall be levied, assessed or
imposed (i) a tax, assessment, levy, imposition or charge wholly or partially as
capital levy or otherwise on the rents

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received therefrom, or (ii) a tax, assessment, levy, imposition or charge
measured by or based in whole or in part upon the Property and imposed upon
Landlord, or (iii) a license fee or charge measured by the rents payable by
Tenant to Landlord, then all such taxes, assessments, levies, impositions or
charges, or the part thereof so measured or based, shall be deemed to be
included within the term "Property Taxes" for the purposes hereof.

         (c) For purposes of this Article, the term Tenant's Proportionate Share
is 14.71 (14.71%) percent, calculated as follows: 14,088 square feet (Tenant's
space)/ 95,759 square feet (total number of square feet in the Building).

         (d) Landlord shall deliver to Tenant annually written estimates with
respect to the amounts of Additional Rent payable pursuant to this Article 3 and
Tenant shall pay such estimated amount in equal monthly installments along with
the Base Rent due, in accordance with the payment procedure set forth in Section
3.01. Landlord shall have the right to periodically revise the annual estimates
based upon information available to Landlord which indicates a reasonable
likelihood of an increase in the amount of such costs. If Landlord shall fail to
deliver an annual estimate, until such time as Landlord does deliver such annual
estimate Tenant's obligation with respect to the payment of Additional Rent
shall be based upon the most recent annual estimate. Within three (3) months
after the end of each calendar year, Landlord shall deliver to Tenant a
reasonably detailed statement ("Statement") setting forth the actual cost of
items included in Additional Rent for such prior calendar year. If Tenant shall
have paid less than the amount set forth in the Statement, Tenant shall pay the
balance shown on the Statement to Landlord within thirty (30) days after the
date of the Statement. If Tenant shall have paid more than the amount set forth
in the Statement, Landlord shall credit such amount against future payments of
Rent; provided that if the Lease has expired, Landlord shall pay such amount to
Tenant at the time of delivery of the Statement. Landlord's and Tenant's rights
and obligations with respect to such payments shall survive the expiration or
earlier termination of this Lease.

         (e) Tenant shall have the right to audit the Statement and shall
exercise such right by giving written notice to Landlord within thirty (30) days
of receipt of the Statement. All documentation and calculation for the audited
period upon which the Statement is based shall be made available to Tenant at
the offices where Landlord keeps such records during normal business hours
within ten (10) days after Landlord receives a written request from Tenant to
make such examination. Upon the completion of such audit, Tenant shall deliver a
copy of the audit to Landlord and the bill for the increased Operating Costs for
the audited period shall be adjusted accordingly. If Tenant shall have paid less
than such adjusted amount, Tenant shall promptly pay to Landlord the amount of
such underpayment. If Tenant shall have paid more than such adjusted amount,
Landlord shall credit such amount against future payments of Rents; provided
that if the Lease has expired, Landlord shall pay such amount to Tenant within
thirty (30) days of the completion of the audit. In the event that Tenant
disputes any amounts billed by Landlord pursuant to this Article 3, Tenant must
first pay such total amount billed within the time stipulated in this Lease
before Tenant may gain access to Landlord's records for review purposes.

         (f) Additional Rent and Base Rent are collectively referred to in this
Lease as "Rent".

         Section 3.04. A late fee of 5% of the overdue amount will be charged
for Rent received after the fifth day following written notice that such Rent is
due. It is understood and agreed by the parties that such untimely receipt of
rent will cause Landlord to incur costs not contemplated

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by this Lease, the exact amount of which being extremely difficult and
impracticable to determine. The parties hereby agree that this late fee
represents a fair and reasonable estimate of the costs that Landlord will incur
due to late payment of Rent by Tenant. In the event that Tenant does not pay
such Rent within ten (10) days following written notice that such Rent is due,
Tenant shall pay an interest charge ("Interest") for Rent (which shall be deemed
to include Additional Rent). The Interest shall be at a rate of Eighteen percent
(18%) per annum, or alternatively, the maximum amount allowable under the New
Jersey law, whichever is greater provided such amount does not exceed the
maximum amount allowable under state law.

         Section 3.05. Upon execution of this Lease, Tenant shall deposit with
Landlord the sum of $126,792.00 (the "Deposit"), which shall be held as a
security for Tenant's performance as herein provided. At the time of execution
of this Lease Tenant may elect instead to furnish to Landlord and thereafter
keep in full force and effect for the term of the Lease, as it may be extended,
an irrevocable letter of credit ("Letter"), in a form and drawn upon a bank
satisfactory to Landlord, in the amount of $126,792.00 in favor of Landlord to
secure the satisfactory performance by Tenant of its obligations under this
Lease. (The Deposit and the Letter, collectively hereinafter "Security
Deposit"). Provided that Tenant shall not have been in default of its obligation
under this Lease at any time during the first year of the Initial Term, on May
1, 2000, the amount of the Security Deposit shall be reduced to $63,396.00 and
the amount, if held as a deposit, so released shall be promptly paid to Tenant.
In no event shall the Security Deposit be considered a measure of liquidated
damages. All or any part of the Security Deposit may be applied by Landlord in
full or partial satisfaction of any default by Tenant. If all or any part of the
Security Deposit is so applied, Tenant upon demand will restore the Security
Deposit to its full amount by the deposit of additional funds to be held as part
of the Deposit or renewal of the Letter so that it is restored to its amount
immediately prior to such application. At the expiration of the Lease and upon
the satisfaction by Tenant of its obligations hereunder the balance of the
Security Deposit, if any, and any accrued interest thereon, will be paid over to
Tenant.

                     Article 4 - Possession: Quiet Enjoyment

         Section 4.01. Landlord shall, on or before the Commencement Date
deliver possession of the Premises to Tenant in their "as is" condition. It is
agreed that the Tenant has had sufficient opportunity to inspect the Premises
and that the Landlord has made no warranties or representations whatsoever with
respect to the physical condition of the Premises or the suitability of the
Premises for Tenant's intended use.

         Section 4.02. Provided that Tenant is not in default of its obligations
under this Lease, Landlord covenants and agrees to keep Tenant in quiet
possession and enjoyment of the Premises against the claims of anyone lawfully
claiming by, through or under the Landlord during the Term, and warrants that it
has full power and authority to lease the Premises to Tenant for the Term.

                           Article 5 - Use of Premises

         Section 5.01. Tenant shall continuously use the Premises for general
office purposes ("Permitted Use"), which shall be deemed to include the testing
of computer software written by Tenant, and for no other purpose without the
prior written consent of Landlord, which consent shall be in Landlord's sole
discretion.

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         Section 5.02. Tenant, at its own cost and expense, shall comply with
all federal, state, county or local law, ordinance, rule or regulation
applicable to the use and occupancy of the Premises including the Americans With
Disabilities Act (42 U.S.C. sec. 1281-1283) and similar laws, rules and
regulations (collectively "ADA"); provided that Landlord shall comply, at
Landlord's cost, with the requirements of the ADA affecting the Premises and the
property where the Premises are located and Tenant shall comply, at Tenant's
cost, with the requirements of the ADA, compliance with which is necessitated by
Tenant's alterations made to the Premises or the use being made by Tenant of the
Premises.

                                Article 6 - Taxes

         Section 6.01. Tenant shall pay before delinquency all taxes which are
levied or assessed upon Tenant's equipment, furniture, fixtures and Tenant's
other personal property installed or located in or on the Premises.

         Section 6.02. Landlord shall pay before delinquency all real property
and/or rental taxes which are now or hereafter imposed upon the Property and/or
the Building by any governmental agency or authority having jurisdiction over
the Property, or any net income, franchise, estate, inheritance or transfer tax
imposed upon the Property.

                              Article 7 - Insurance

         Section 7.01. At all times during the Term, at its own cost and
expense, Tenant shall keep or cause to be kept the following:

(a) commercial general liability and property damage insurance coverage
(sometimes known as broad form comprehensive general liability insurance), which
policy shall include coverage for claims arising from bodily injury, personal
injury and property damage occurring upon, in or about the Premises. The
coverage shall be on an occurrence basis and the combined single limits shall be
not less than $1,000,000;

(b) insurance covering all of Tenant's property and all equipment, fixtures,
motors, machinery, furnishings and furniture installed and owned by Tenant and
used in connection with the Premises insured against loss or damage on a
comprehensive all risk basis;

(c) Workers' Compensation Insurance covering all employees as required by law;

(d) During the course of any construction or renovation of any permitted
improvements on the Premises pursuant to Article 11, appropriate builder's risk
insurance and owner's contingent or protective liability insurance, naming
Landlord as additional insured, covering claims not covered by or under the
terms of the above-mentioned comprehensive general liability insurance, with
combined single limit coverage of $1,000,000, or such higher amount as Landlord
may from time to time reasonably require, and if Tenant shall contract with any
independent contractor for the furnishing of labor, materials or services to
Tenant, Tenant shall require such independent contractor to maintain Workers'
Compensation Insurance covering all persons working on the job site or in
connection with such construction. Tenant agrees to furnish

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Landlord with certificates evidencing all such insurance prior to the
commencement of any such construction or renovations. All such insurance shall
insure the interests of Landlord regardless of any breach or violation by such
independent contractor of warranties, declarations or conditions contained in
such policies or any action or inaction of such independent contractor or of any
other person.

         As to all insurance required pursuant to subparagraphs (a) through (d)
above, (i) insurance shall be obtained from responsible companies qualified to
do business and in good standing in the state in which the Premises are located;
(ii) Landlord shall be named as an additional insured on all such policies; and
(iii) the interests of Landlord shall be insured regardless of any breach or
violation by Tenant of warranties, declarations or conditions contained in such
policies or any action or inaction of Tenant or of any other person. Tenant
agrees to furnish Landlord with certificates evidencing all such insurance prior
to the beginning of the term hereof, and annually thereafter, and evidencing
renewal thereof at least thirty (30) days prior to the expiration of any such
policy. Each such policy shall be non-cancelable with respect to the interest of
Landlord without at least twenty (20) days' prior written notice thereof.

         Section 7.02. Landlord shall cause to be maintained, throughout the
Term (a) a policy of commercial general liability insurance with respect to the
Property, and (b) policies of insurance covering damage to the Building,
excluding Tenant's fixtures, or equipment, in the amount of the full replacement
value thereof, providing protection against all perils included within the
classification of fire, extended coverage, vandalism, malicious mischief and
"all risk". Landlord shall furnish Tenant, upon written demand therefor, a
certificate evidencing such insurance.

         Section 7.03. Tenant and Landlord covenant that with respect to any
insurance coverage carried by either Tenant or Landlord in connection with the
Premises, whether or not such insurance is required by the terms of this Lease,
such insurance shall provide for the waiver by the insurance carrier of any
subrogation rights against Landlord, its agents, servants and employees under
Tenant's insurance policies or against Tenant, its agents, servants and
employees under Landlord's insurance policies. If a party to this Lease is
unable to obtain such a provision in any such insurance policy, then that party
shall cause the other party to be named an additional insured under such
insurance policy.

                           Article 8 - Indemnification

         Section 8.01. Tenant shall hold Landlord harmless from and defend
Landlord against any and all claims or liability for any injury or damage
(including consequential damages and reasonable attorneys' fees) to any person
or property whatsoever (a) occurring in, on, or about the Premises; (b)
occurring in, on or about the Building, when such injury or damage shall be
caused in part or in whole by the act, neglect, fault, or omission of any duty
with respect to the same, by Tenant, its agents, employees, or invitees, or (c)
arising out of Tenant's breach of its obligations under this Lease. The
provisions of this Section 8.01 shall continue in effect and shall survive
(among other events) any termination or expiration of this Lease.

         Section 8.02. Landlord shall hold Tenant harmless from and defend
Tenant against any
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and all claims or liability for any injury or damage (including reasonable
attorneys' fees) to any person or property whatsoever (a) occurring in, on, or
about the Premises caused by the act, neglect, fault, or omission of any duty
with respect to the same, by Landlord, its agents, employees, or invitees, and
(b) occurring in, on, or about the Building, unless such injury or damage shall
be caused in part or in whole by the act, neglect, fault, or omission of any
duty with respect to the same, by Tenant, its agents, employees, or invitees.
The provisions of this Section 8.02 shall continue in effect and shall survive
(among other events) any termination or expiration of this Lease.

                   Article 9 - Utilities and Services: Parking

         Section 9.01. Landlord shall, at its sole cost, cause, for normal
office purposes, electricity, water and sewage service to be furnished to the
Premises for the use of Tenant. Tenant shall, at its sole cost and expense, pay
or cause to be paid all charges (including any deposits) for telephone or other
services or utilities furnished to the Premises or to Tenant.

         Section 9.02. Tenant shall have the non-exclusive right to park not
more than 56 standard passenger motor vehicles ("Vehicles"), free of charge in
the parking facilities servicing the Building ("Parking Area"). Landlord may
from time to time establish reasonable rules and regulations for the Parking
Area, and Tenant agrees to observe the same upon being advised thereof. Any and
all parking of Vehicles in said Parking Area shall be at the risk of the owner
of the same. Landlord reserves the right to reconfigure and reassign the parking
spaces in the Parking Area.

         Section 9.03. Tenant agrees to comply with (a) all applicable laws,
rules and regulations regarding the collection, sorting, separation and
recycling of waste products, garbage, refuse and trash (collectively "Trash")
and (b) any rules and regulations which Landlord in its sole discretion may
institute regarding Trash collection and recycling.

                      Article 10 - Repairs and Maintenance

         Section 10.01. Except as provided in Section 10.02, Landlord shall do
the following:

                  (a) Maintain in good condition and repair during the Term all
structural components of the Property, including, without limitation, the
foundation, roof, exterior walls of the Building, and the plumbing, electrical,
heating, and air-conditioning systems which are a part of and/or service the
Premises, except for those owned by the Tenant; and

                  (b) Maintain and keep clean all Common Areas, including the
Parking Area, remove snow therefrom with reasonable dispatch when required,
provide adequate lighting and drainage for the Parking Area during normal
business hours, and maintain all landscaping in a neat and orderly condition;
and

                  (c) Cause trash and refuse to be removed daily or as often as
is reasonably necessary from the Building so as to avoid unreasonable
accumulations of the same; provided that Landlord shall not be obligated to
accept for disposal any Trash which has not been sorted and separated in
compliance with the provisions of Section 9.03, and in such case, Tenant shall

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<PAGE>

be required to arrange for disposal of its Trash at its sole cost and expense,
using a contractor satisfactory to Landlord.

         Section 10.02. Tenant, at its sole expense, shall maintain in good
condition and make all interior repairs to the Premises during the Term which
are necessary to keep the Premises in substantially as good condition as on the
Commencement Date, reasonable wear and tear and damage by fire or other casualty
excepted.

                            Article 11 - Alterations

         Section 11.01. Tenant shall make no alterations, installations,
additions or improvements ("Alterations", which shall be deemed to include any
changes to Alterations previously approved by Landlord) of a structural nature
in or to the Premises. Tenant shall make non-structural changes only with the
prior written consent of Landlord; provided Landlord may disapprove any
Alterations or decorative changes which in the sole opinion of Landlord harm the
architectural integrity or appearance of the Building or conflict with the use
of the rest of the Building. Landlord will not unreasonably withhold, delay or
condition its consent to non-structural Alterations costing in the aggregate
less than $10,000.00. If such Alterations are consented to by Landlord, they
shall be made only by contractors or mechanics approved by Landlord at Tenant's
expense. Any such Alterations must comply with applicable laws, including but
not limited to, any and all regulations governing potential asbestos containing
materials. Tenant shall install and maintain the Alterations, interior
decoration and appearance in a first class manner. At the time of consenting to
Alterations, Landlord shall notify Tenant whether such Alterations shall be
required to be removed at the expiration or earlier termination of this Lease.
Any Alternations not removed shall become the property of Landlord. If Tenant is
required to remove such Alterations, Tenant shall restore the Premises to their
condition immediately prior to the making of such Alterations, reasonable wear
and tear excluded.

         Section 11.02. If Landlord elects to require Tenant to remove such
Alterations, and such removal and restoration of the Premises are not effected
by Tenant by (i) the expiration or earlier termination of this Lease; or (ii)
within thirty (30) days from the date of notice by Landlord requiring the same,
whichever is later, Tenant shall be deemed to be holding over under Article 22,
Section 22.03 of this lease until such time as the Alterations are removed and
the Premises restored to its prior condition, and shall remain liable for any
and all consequential damages sustained by Landlord as a result.

         Section 11.03. Tenant shall indemnify and hold Landlord harmless from
any loss, cost or expense (including reasonable attorneys' fees) incurred by
Landlord as a consequence of any defects in design, materials or workmanship
resulting from Tenant's Alterations.

         Section 11.04. Tenant shall reimburse Landlord for Landlord's
reasonable costs for reviewing and approving or disapproving plans and
specifications for Alterations by Tenant, including but not limited to,
reasonable fees for engineers, architects and/or attorneys retained by Landlord
for these purposes. Such reimbursement shall be made by Tenant to Landlord
within thirty (30) days of Landlord's invoicing of Tenant.

         Section 11.05. If any change ("Change") to any approved Alteration
increases the cost of
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<PAGE>

any work to be performed by Landlord ("Landlord's Work") pursuant to this Lease,
Landlord shall provide Tenant with invoices documenting and evidencing such
increased costs and Tenant shall reimburse Landlord for such increased costs
within ten (10) days after receipt thereof. Such costs shall include the actual
costs incurred by Landlord, including but not limited to, reasonable fees for
engineers and architects retained by Landlord for these purposes, to revise
plans and specifications for Landlord's Work to indicate work resulting from an
approved Change, and to construct the Landlord's Work shown on such revised
plans to the extent that such costs exceed the costs that Landlord would have
had to pay to cause the Landlord's Work to be constructed (as reflected by
Landlord's original plans if such Change had not been made). If such Change
delays Landlord's completion of Landlord's Work, such delay period shall not be
considered when determining the Commencement Date defined in Section 2.01.

         Section 11.06. Landlord and Tenant contemplate that at the commencement
of the Term of this Lease Tenant will undertake certain Alterations shown on
Exhibit B attached hereto and made a part hereof ("Initial Alterations"). By
execution of this Lease the Initial Alterations are deemed approved. The Initial
Alterations shall be subject to all of the provisions of this Article 11;
provided that Tenant shall not be required to remove them at the expiration or
earlier termination of the Term. Landlord shall have no financial obligation
with respect to the Initial Alterations except that Landlord shall reimburse
Tenant up to, but not more than, $281,760.00 ("Cash Allowance") of the cost of
the Initial Alterations. Such sum has been calculated at a rate of $20.00 per
square foot of area of the Premises. Provided that Tenant is not in default of
it's obligations under this Lease, such sum shall be paid to Tenant within 30
days of presentation to Landlord of (a) the certificate of occupancy, if
applicable, or such other evidence of completion of the work as is satisfactory
to Landlord and (b) third party invoices and mechanics lien waivers evidencing
completion of and payment for the work for which reimbursement is sought.

                           Article 12 - Trade Fixtures

         All equipment (other than exhaust vents and fans and heating, air
conditioning and ventilating system), business and office machines, furniture
and other items of personal property (except Alterations including without
limitation walls, floors, ceilings, wiring, plumbing, sewerage, and water pipes
and lines) owned or installed by Tenant in the Premises at its expense shall
remain the property of Tenant, (and any taxes thereon and risk of loss shall be
borne by Tenant, and may be removed by Tenant at any time provided that Tenant
shall at its expense, repair any damage, holes or openings caused or occasioned
by such removal whether by Tenant or Landlord as hereafter provided and provided
that during the Term such removal does not adversely affect the appearance of
the Premises). Any such personal property of the Tenant left upon the Premises
at the end of the Term may, at the election of Landlord and after reasonable
notice to Tenant, (a) be removed, sold, stored or discarded at Tenant's expense;
or (b) be deemed to have been abandoned and to belong to the Landlord.

                          Article 13 - Mechanic's Liens

         Tenant shall keep the Property free from and promptly remove any
mechanic's liens and indemnify, defend, and hold Landlord harmless from any and
all liability or expense of any kind and description which may arise out of or
be connected in any way with Tenant's

                                       15

<PAGE>

Alterations. If any mechanic's or other lien shall at any time be filed against
the Premises by reason of labor, services or materials performed or furnished to
Tenant, Tenant shall cause the same to be discharged of record by payment or the
posting of a bond, to the satisfaction of Landlord within ten (10) days of the
filing of the lien. If Landlord shall incur any fees (including attorneys' fees)
by reason of the filing of any such lien, Tenant shall be obligated for the
payment of such fees. If Tenant shall fail to cause such lien to be so
discharged or bonded after being notified of the filing thereof, then, in
addition to any other right or remedy of Landlord, Landlord may bond or
discharge the same by paying the amount claimed to be due or posting a bond, and
the costs incurred by Landlord, including reasonable attorneys' fees, together
with interest thereon at the rate of 18% per annum, shall be due and payable by
Tenant to Landlord as Additional Rent. Landlord's consent to the construction of
Alterations shall not be deemed to be such consent of the Landlord or
acknowledgment that its estate is beholden for the payment for such Alterations
as would bind the interest of the Landlord under applicable mechanic's lien law.

                       Article 14 - Damage and Destruction

         Section 14.01. Should a substantial portion of the Premises or of the
Building be damaged by fire or other casualty, Landlord may elect to terminate
this Lease by giving written notice to Tenant within sixty (60) days of such
fire or casualty, specifying a termination date, and this Lease shall terminate
as of the termination date specified. If Landlord does not elect to terminate
this Lease, then it shall give notice to Tenant within such sixty-day period of
the period required to complete the restoration and repair of the Premises. When
such fire or other casualty renders the Premises substantially unsuitable for
the' intended use, a just and proportionate abatement of Base Rent shall be
made, and Tenant may elect to terminate this Lease if:

         (a) Landlord fails to give written notice within sixty (60) days of
such fire or casualty of its intention to restore the Premises, or

         (b) Landlord advises Tenant in such notice that the period required for
restoration and repair exceeds 270 days, or

         (c) Landlord fails to restore the Premises to a condition substantially
suitable for their intended use within the period set forth in its notice to
Tenant.

If Tenant elects to so terminate this Lease, Tenant shall give a written notice
of termination to Landlord within thirty (30) days following the lapsed time
period described in Section 14.01(a) or (b), as applicable, specifying a
termination date, and this Lease shall terminate as of the termination date.

         Section 14.02. Landlord shall not be required to repair any injury or
damage by fire, or other casualty, or to make any repairs or replacements, of
any Alterations installed in the Premises by Tenant; and Tenant shall, at
Tenants sole cost and expense, repair and restore its portion of such
Alterations.

         Section 14.03. In the event the Premises or the Building is totally
destroyed or rendered wholly unusable for Tenant's Permitted Use, this Lease
shall terminate and Tenant shall be liable for Rent only up to the date of such
total destruction.

                                       16

<PAGE>

                            Article 15 - Condemnation

         If a substantial portion of the Building is taken or condemned under
the power of eminent domain, or by purchase in lieu of such taking or
condemnation, Landlord may elect to terminate the Lease effective as of the date
of such taking, condemnation or purchase by giving written notice to Tenant. If
the Premises or Tenant's right of access thereto are taken or condemned under
the power of eminent domain, or by purchase in lieu of such taking or
condemnation, and as a result thereof the use and enjoyment of the Premises by
Tenant are materially impaired, Tenant may, at its sole option, but without
prejudice to any rights and claims which it may otherwise have on account of
such taking, condemnation or sale, terminate this Lease effective as of the date
of such taking, condemnation or purchase by giving written notice to Landlord at
any time prior to the effective date of such taking, condemnation or purchase.
If either Landlord or Tenant do not elect to terminate this Lease, the Rent
reserved for the remainder of the Term shall be reduced in proportion to the
portion of the Premises taken, condemned or sold, having due regard to the
nature and extent of the injury caused thereby to the Premises and to Tenant's
Permitted Use thereof, and such reduction in Rent shall be without prejudice to
any rights and claims which Tenant may otherwise have on account of such taking
or condemnation or sale. Landlord reserves to itself, and Tenant assigns to
Landlord, all rights to damages accruing on account of any taking under the
power of eminent domain or by reason of any act of any public or quasi-public
authority for which damages are payable. Tenant agrees to execute such
instruments of assignment as may be reasonably required by Landlord in any
proceeding, except it is agreed and understood, however, that Landlord does not
reserve to itself, and Tenant does not assign to Landlord, any damages
specifically payable for Tenant's trade, fixtures, furniture, moving expenses,
and/or Tenant's leasehold improvements.

                      Article 16 - Environmental Provisions

         Section 16.01. Tenant shall not cause or permit any Hazardous Substance
(as defined below) to be brought upon, kept, disposed of or used in, on or about
the Premises by Tenant, its agents, employees, contractors, or invitees.

         Section 16.02. As used in this Article 16, the term "Hazardous
Substance" means any substance which is toxic, ignitable, reactive, or corrosive
and which is regulated by any local government, the State of New Jersey, or the
United States government.

         Section 16.03. Tenant represents, warrants and covenants that is has
obtained, is in compliance with, and will continue to comply with all federal,
state and local environmental law permits, licenses and other authorizations
which are required under all environmental laws and regulations, including laws
relating to emission, discharges releases or threatened releases of pollutants,
contaminants, chemicals, or industrial, toxic or hazardous substances or wastes
into the environment (including, without limitation, air, surface water,
groundwater, or land), or otherwise relating to the manufacture, processing,
distribution, use, treatment, storage, disposal, transport, or handling of
pollutants, contaminants, chemicals, or industrial, toxic or hazardous
substances or wastes.

         Section 16.04. Tenant shall immediately notify the Landlord in the
event of any spill,

                                       17

<PAGE>

pollution or contamination affecting the Premises from a Hazardous Substance,
and shall immediately forward to the Landlord any notices or correspondence
relating to such matters received or sent by Tenant.

         Section 16.05. Tenant shall immediately contain and remove at its sole
cost and expense any Hazardous Substance found on the Premises if caused by
Tenant or anyone acting under Tenant; and such work must be done in compliance
with all applicable laws.

         Section 16.06.Tenant will indemnify, defend, and hold Landlord harmless
from and against any claim, cost, damage (including without limitation
consequential damages), expense (including without limitation reasonable
attorneys' fees and expenses), loss, liability, or judgment now or hereafter
arising as a result of any claim for environmental cleanup costs, any resulting
damage to the environment and any other environmental claims against Tenant,
Landlord, the Premises, the Building or the Property relating to any act or
failure to act by Tenant or anyone claiming under Tenant. The provisions of this
Section 16.06 shall continue in effect and shall survive (among other events)
any termination or expiration of this Lease.

         Section 16.07. Landlord will indemnify, defend and hold Tenant harmless
from and against any claim, cost, damage (including without limitation
consequential damages), expense (including without limitation reasonable
attorneys' fees and expenses), loss, liability, or judgment now or hereafter
arising as a result of any claim associated with any required clean-up or other
actions arising from the existence, release or threatened release of Hazardous
Material on, in or under the Premises unless such Hazardous Materials are
released by Tenant, its agents or contractors. Without limiting the foregoing,
in the event that any such Hazardous Materials are determined to be located on
the Property, Landlord shall, at Landlord's sole cost, promptly take all steps
necessary to comply with all applicable laws and regulations and the provisions
of this Lease. The provisions of this Section 15.03 shall survive any
termination or expiration of this Lease.

                       Article 17 - Signs and Advertising

         Tenant shall not place any sign on or around the Premises without the
advance written consent of Landlord, which consent shall be in Landlord's sole
discretion. Notwithstanding the foregoing, and subject in each instance to the
advance written consent of Landlord, which shall not be unreasonably delayed,
conditioned or withhold, Tenant at its sole expense may (a) place its name on
its entry door, and (b) install a freestanding directional sign. Tenant's name
shall be placed in the building directory in the west lobby.

                         Article 18 - Entry by Landlord

         Landlord and its agents shall have the right to enter into and upon the
Premises at all reasonable times for the purpose of examining and exhibiting the
same, for making any necessary repairs or alterations thereto, for the purpose
of supplying any service, or building maintenance to be provided by Landlord
hereunder, provided, however, that Landlord shall advise Tenant a reasonable
time in advance thereof, and, provided further, that the operations of Tenant
shall not be interfered with unreasonably thereby. Notwithstanding the
foregoing, in the

                                       18

<PAGE>

event of an emergency and if despite its reasonable efforts the Landlord is
unable to give advance notice to Tenant, Landlord shall have the right to enter
into the Premises to make emergency repairs and shall thereafter notify Tenant
of such entry as soon as reasonably practicable thereafter.

                     Article 19 - Assignment and Subletting

         Section 19.01. Tenant will not assign, sublet, permit another to
occupy, pledge, mortgage, or otherwise transfer this Lease or the whole or any
part of the Premises without in each instance having first received the express
written consent of Landlord which will not be unreasonably withheld or delayed
provided that the person(s) or entity to whom the Premises are assigned or
sublet is not a Financial Services Institution, otherwise, consent shall be in
Landlord's sole discretion. For purposes of this provision any entity engaged in
any of the following activities shall be deemed to be a Financial Services
Institution: (a) operation of a commercial bank, savings bank, savings and loan
association, credit union, a mutual or thrift association or any other
institution that accepts deposits of money, (b) operation of any sort of
automated teller machine or cash dispensing machine, (c) operation of a stock
brokerage firm, (d) operation of a mortgage broker, (e) operation of a finance
company, mortgage company or any other institution that lends money, (f)
investment banking, and (g) insurance brokerage. In any case where Landlord
shall consent to an assignment or subletting, Tenant shall remain primarily
liable for Tenant's obligations hereunder. In the event that the Premises are
sublet or this Lease is assigned or another is permitted to occupy the Premises,
Tenant shall pay to Landlord fifty percent (50%) of all net payments (gross rent
exclusive of brokerage commissions) in excess of the rental rates and other
amounts required to be paid by Tenant pursuant to this Lease. It shall be a
condition to the validity of any assignment or subletting that the terms of any
sublease or assignment shall not be more favorable than the terms of this Lease
and shall not be more favorable than the terms which Landlord is then offering
for new rental space in the Building or for existing rental space in the
Building which will be coming available. The transfer of a majority interest in
the capital stock of any corporate Tenant or a majority of the interest in any
partnership Tenant, however accomplished, and whether in a single transaction or
in a series of related or unrelated transactions, shall be deemed an assignment
of this Lease. Notwithstanding the foregoing, Tenant shall have the right to
sublease all or a portion of the Premises, to permit occupancy of all or a
portion of the Premises, and to assign its interest in this Lease to any
Affiliated Entity, as hereinafter defined, which is not a Financial Services
Institution, without obtaining prior Landlord's consent, and any such transfer
shall not be subject to the provisions of Section 19.02. "Affiliated Entity" for
purposes of this provision is defined as (a) any entity which controls, is
controlled by, or is under common control with, Tenant, or (b) any entity that
succeeds to Tenant's business by merger, consolidation, reorganization or other
form of corporate reorganization. Landlord acknowledges that the Premises will
be occupied by DLB Systems and that DLB Systems is an Affiliated Entity of
Tenant.

         Section 19.02. Landlord, shall at its option have the right to
recapture the portion of the space made available by Tenant for sublease or
assignment. Tenant shall give notice to Landlord of each instance where it
intends to so transfer its interest and of the terms of the proposed
transaction, and Landlord shall have thirty (30) days to respond. In the event
Landlord elects to

                                       19

<PAGE>

recapture such space, such recapture shall be effective as of the date upon
which the proposed sublease or assignment would have been effective and Tenant's
rent shall be proportionately abated as of that date without the execution of
any further instrument or document by Landlord and Tenant. In the event Landlord
elects against recapture, Tenant may proceed with the intended transfer subject
to Section 19.01 hereinabove. If such transfer fails to occur, Tenant shall
remain obligated to notify Landlord of any future proposed transfer.

         Section 19.03. Tenant shall reimburse Landlord for Landlord's
reasonable costs for reviewing and approving or disapproving of any assignment,
sublet, occupancy, pledge, mortgage, or other transfer proposed by Tenant,
including but not limited to, reasonable fees for accountants and/or attorneys
retained by Landlord for these purposes. Such reimbursement shall be made by
Tenant to Landlord within thirty (30) days of Landlord's invoicing of Tenant.

         Section 19.04. If Tenant (which term for the purposes of this Section
19.02 shall include the authorized representative of Tenant's estate in
Bankruptcy) assumes this Lease and proposes to assign the same pursuant to the
provisions of the Bankruptcy Code, 11 U.S.C. ss. 101 et seq., or any future
statute in amendment or in substitution thereof (the "Bankruptcy Code") to any
person or entity who shall have made a bona fide offer to accept an assignment
of this Lease on terms acceptable to the Tenant, then notice of such proposed
assignment, setting forth (i) the name and address of such person or entity,
(ii) all of the terms and conditions of such offer, and (iii) adequate assurance
to be provided Landlord to assure such person's or entity's future. performance
under the Lease, including, without limitation, the assurance referred to in
Section 365 (b) (3) of the Bankruptcy Code, shall be given to Landlord by Tenant
no later than twenty (20) days after receipt by the Tenant, but in any event no
later than ten (10) days prior to the date that Tenant shall make application to
a court of competent jurisdiction for authority and approval to enter into such
assignment and assumption. Landlord shall thereupon have the prior right and
option, to be exercised by notice to Tenant at any. time prior to the effective
date of such proposed assignment, to accept an assignment of this Lease upon the
same terms and conditions and for the same consideration, if any, as the bona
fide offer made by such person or entity, less any brokerage commissions which
may be payable out of the consideration to be paid by such persons or entity for
the assignment of this lease.

         In the event this Lease is assigned to any person or entity pursuant to
the provisions of the Bankruptcy Code, then any and all monies or other
consideration paid, payable or otherwise to be delivered in connection with such
assignment shall be paid or delivered to Landlord, shall be and remain the
exclusive property of Landlord and shall not constitute property of Tenant or of
the estate of Tenant within the meaning of the Bankruptcy Code. Any and all
monies or other considerations constituting Landlord's property under the
preceding sentence not paid or delivered to Landlord shall be held in trust for
the benefit of Landlord and shall be promptly paid to or turned over to
Landlord.

         Any person or entity to which this Lease is assigned, pursuant to the
provisions of the Bankruptcy Code, shall be deemed, without further act or deed,
to have assumed all of the obligations arising under this Lease on and after the
date of such assignment. Any such assignee shall, upon demand, execute and
deliver to Landlord an instrument confirming such assumption.

                                       20

<PAGE>

                      Article 20 - Subordination, Estoppel

         Section 20.01. This Lease will be subject and subordinate to any
mortgage of the Property now existing or hereafter executed by Landlord or its
successors and assigns. Such subordination is automatic and is effective without
any further act of Tenant, but Tenant hereby agrees from time to time on request
from Landlord to execute and deliver any instruments that may be required by any
lender to confirm the subordination provided for herein. It is a condition of
the effectiveness of any subordination agreement as to all mortgages which now
or hereafter affect the Property, that the mortgagee of any such mortgage shall
execute a commercially reasonable non-disturbance agreement which provides that
in the event of foreclosure such mortgagee, its successors and assigns, will
recognize Tenant's rights under this Lease and shall not disturb Tenant's
possession hereunder. Any mortgagee may elect that this Lease shall have
priority over its mortgage, and upon notification of such election by such
mortgagee to Tenant, this Lease shall be deemed to have priority over such
mortgage whether this Lease is dated prior to or subsequent to the date of such
mortgage. Tenant hereby appoints Landlord, with full power of substitution, as
Tenant's attorney-in-fact (which appointment shall be irrevocable and shall be
deemed to be coupled with an interest) to execute and deliver any such
instrument for and in the name of Tenant.

         Section 20.02. Tenant, within twenty (20) days after written request
from Landlord shall deliver to Landlord and any proposed purchaser or lender a
written certificate stating whether this Lease is in full force and effect, if
any amendments have been executed, if any defaults exist by Landlord or by
Tenant hereunder and the nature of any alleged default, if Tenant is then
claiming any offsets, counterclaims or defenses to this Lease, and any other
matter which may be reasonably requested.

                              Article 21 - Default

         Section 21.01. If any of the following shall occur, Tenant shall be
deemed in default of this Lease: (a) Tenant shall fail to pay any Rent or other
sum when and as the same becomes due and payable and such failure shall continue
for more than ten (10) days following receipt of written notice that the same is
due; (b) if within the twelve month period immediately preceding, Tenant shall
have failed on two (2) occasions to pay any Rent or other sum when and as the
same became due and payable, and Tenant shall again fail to pay any Rent or
other sum when and as the same becomes due and payable; (c) Tenant shall fail to
perform any of the other duties required to be performed by Tenant under this
Lease or otherwise breaches this Lease and such failure or breach shall continue
for more than thirty (30) days after receipt of written notice thereof from
Landlord; provided, however, that if such cannot reasonably be cured within such
thirty (30) day period, Tenant shall have such additional time, but not more
than sixty (60) days, as is reasonably necessary to cure such breach; (d) Tenant
shall make a general assignment for the benefit of creditors, admit in writing
its inability to pay its debts as they become due, file a petition in
bankruptcy, have an order of relief entered against it, or file or have filed
against Tenant a petition seeking any reorganization, receivership, arrangement,
composition, readjustment, liquidation, dissolution or similar relief under any
present or future statute, law or regulation.

         Section 21.02. In the event of default, to the extent not prohibited by
applicable law Landlord, upon written notice of termination to Tenant, and with
or without process of law (with

                                       21

<PAGE>

force if necessary, provided Tenant has vacated the Premises) may enter into and
upon the Premises or any part thereof or mail a notice of termination addressed
to Tenant at the Premises, and repossess the same as of Landlord's former estate
and expel Tenant and those claiming through or under Tenant and remove its and
their effects (forcibly, if necessary) without being deemed guilty of any manner
of trespass and without prejudice to any remedies which might otherwise be used
for arrears of rent or prior breach of covenant, and upon such entry or mailing
as aforesaid this Lease shall terminate; Tenant hereby waiving all statutory
rights (including without limitation rights of redemption, if any, to the extent
such rights may be lawfully waived) and Landlord, without notice to Tenant, may
store Tenant's effects, and those of any person claiming through or under Tenant
at the expense and risk of Tenant, and, if Landlord so elects, may sell such
effects at public auction or private sale and apply the net proceeds to the
payment of all sums due to Landlord from Tenant if any, and pay over the
balance, if any, to Tenant.

         Section 21.03. Upon the termination of this Lease, Tenant shall
nevertheless remain liable for all Rent then due and payable hereunder as of the
date of the termination of this Lease, together with all damages due or
sustained by Landlord prior to such termination or arising as a result of events
or conditions occurring or in existence during the Term hereof and prior to or
after such termination, and all reasonable costs, fees and expenses incurred by
Landlord in pursuit of, or in the collection of its remedies hereunder or under
any law, or in leasing or attempting to lease all or any portion of the Premises
to others from time to time (including, without limitation, all repossession
costs, brokerage commissions, reasonable attorney's fees in connection with the
foregoing matters, and all costs of such alterations, repairs, and decorations
as Landlord, in its reasonable judgment, considers necessary or advisable in
connection with such reletting) (all such rent, damages, costs, fees and
expenses being referred to herein as the "Termination Damages") and, in addition
thereto, additional damages (the "Liquidated Damages"), which, at the election
of Landlord, shall be either of the following:

                  (a) an amount or amounts equal to all Rent which, but for
         termination, would have been payable to Landlord over the remainder of
         the Term, reduced by the amount of Rent, if any, which the Landlord
         shall actually receive from time to time during such period from others
         to whom the Premises may be rented from time to time. The Landlord
         shall not be obligated to attempt to collect any rental or other
         payment obligation from any other person renting all or any portion of
         the Premises by litigation or otherwise. Such Liquidated Damages shall
         be computed and payable in monthly installments, with interest on any
         amount in arrears at the rate of two percent (2%) per annum in excess
         of the Fleet Prime Rate, in arrears, on the first day of each calendar
         month following termination of the Lease and shall continue to become
         due and payable in monthly installments until the date on which the
         Term would have expired but for such termination; and any and all
         amounts due and payable hereunder, including any amount in arrears,
         shall be a continuing liability of Tenant thereafter, and interest
         thereon shall accrue at the rate of two percent (2%) per annum in
         excess of the Fleet Prime Rate, until Tenant shall discharge same by
         payment to Landlord of the amount due, and any suit or action brought
         from time to time to collect any such Liquidated Damages for any month
         or months shall not in any manner prejudice the right of Landlord to
         collect any Liquidated Damages for any subsequent month or months by a
         similar proceeding; or

                  (b) an amount equal to the present value (as of the date of
         such termination) of all Rent which, but for termination of this Lease,
         would have become due during the

                                       22

<PAGE>

         remainder of the Term, reduced by an amount equal to the fair rental
         value of the Premises over the remainder of the Term, as determined by
         an independent real estate appraiser named by Landlord, in which case
         such Liquidated Damages shall be payable to Landlord in one lump sum on
         demand made by Landlord at any time and shall bear interest at the rate
         of two percent (2%) per annum in excess of the Fleet Prime Rate from
         the date of termination until paid. For purposes of this clause (ii),
         present value shall be computed by the application of a discount rate
         equal to the discount rate in effect at the Federal Reserve Bank
         nearest to the location of the Premises as of the date of
         determination.

         Section 21.04. In addition, if this Lease is terminated, Landlord may,
but shall have no obligation to, relet the Premises or any part thereof, alone
or together with other premises, for such term or terms (which may be greater or
less than the period which otherwise would have constituted the balance of the
Term) and on such terms and conditions (which may include concessions or free
rent and alterations of the Premises) as Landlord, in its uncontrolled
discretion, may determine, but Landlord shall not be liable for, nor shall
Tenants obligations hereunder be diminished by reason of, failure by Landlord to
relet the Premises or any failure by Landlord to collect any rent due upon such
reletting, and Tenant, to the extent Tenant may lawfully do so, hereby waives
all right to require Landlord to relet the Premises.

         Section 21.05. Nothing contained in this Lease shall however, limit or
prejudice the right of Landlord to prove for and obtain in proceedings under any
federal or state laws, including but not limited to laws relating to bankruptcy,
insolvency or reorganization by reason of the termination of this Lease, an
amount equal to the maximum allowed by any statute or rule of law in effect at
the time when, and governing the proceedings in which the damages are to be
proved, whether or not the amount be greater than the amount of the loss or
damages referred to above.

         Section 21.06. Any and all rights and remedies which Landlord may have
under this Lease, and at law and equity, shall be cumulative and shall not be
deemed inconsistent with each other, and any two or more of all such rights and
remedies may be exercised at the same time insofar as permitted by law.

         Section 21.07. The waiver by either party of any default shall not be
deemed to be a waiver of any subsequent default under the same, or under any
other term, covenant or condition of this Lease. The subsequent acceptance of
any Rent by Landlord shall not be deemed to be a waiver of any preceding default
by Tenant under any term, covenant or condition of this Lease, other than the
failure of Tenant to pay the particular Rent so accepted, regardless of
Landlord's knowledge of such preceding default at the time of acceptance of such
Rent. The acceptance of a partial payment of any Rent installment by Landlord
shall not be deemed to be a waiver of the default occasioned by the Tenant's
failure to pay such installment in its entirety.

                    Article 22 - Return of Premises: Holdover

         Section 22.01. At the expiration or other termination of the Term,
Tenant will remove from the Premises its property and that of all claiming under
it, will repair any damage caused by such removal, and will peaceably yield up
to Landlord the Premises in as good condition in all

                                       23

<PAGE>

respects as the same were at the commencement of this Lease, except for ordinary
wear and tear, damage by the elements, by any exercise of the right of eminent
domain or by any public or other authority, or damage not caused by Tenant and
with respect to which Tenant is not required to maintain insurance hereunder.

         Section 22.02. If Tenant remains in possession of the Premises after
the expiration of the Term and continues to pay Rent without any express
agreement as to holding over, Landlord's acceptance of Rent will be deemed an
acknowledgment of Tenant's holding over upon a month- to-month tenancy, subject,
however, to all of the terms and conditions of this Lease except as to the Term
and any option to renew or extend the Lease and except that the monthly Rent
shall be 150% of the Rent paid for the last month of the Term.

         Section 22.03. If Tenant remains in possession of the Premises after
the expiration of he Term, as such may be extended hereunder, whether as a
month-to-month tenant pursuant to Section 22.02 or otherwise, and Landlord at
any time declines to accept the Rent at the rate specified herein, Tenant's
holding over thereafter will be deemed to be as a tenant-at-sufferance. Tenant
will nevertheless be subject to all of the terms and conditions of this Lease
except as to the Term hereof and any option to renew and except that during the
first two months of so remaining in possession Tenant will pay a monthly fee in
an amount equal to 150% of the Rent paid for the last month of the Term and
thereafter an amount equal to 200% of the Rent paid for the last month of the
Term for Tenant's use and occupancy of the Premises and will pay all loss, cost
or damage (including attorneys' fees) sustained by Landlord on account of such
holding over. Landlord's acceptance of any payments pursuant to this Section
22.03 shall not be deemed to create a landlord-tenant relationship between the
parties.

                              Article 23 - Notices

         All notices required to be given herein shall be given by (a) certified
mail, postage prepaid, return receipt requested, (b) by service in hand with
receipt, (c) by facsimile with an original copy to follow by recognized
overnight delivery service for which proof of delivery is available, or (d) by
recognized overnight delivery service for which proof of delivery is available,
to the following addresses:

Landlord:                  LEGAL                Fleet Bank, N.A.
                           NOTICE:              Corporate Properties
                                                Transactions Group
                                                MA OF 0803
                                                Attn: Director of Real Estate
                                                      Transactions
                           if by U.S. Mail:     P.O. Box 2197
                                                Boston, MA 02106-2197
if by Fedex or other private courier:           One Federal Street
                                                Boston, MA 02110-2010
         with a copy, which shall
         not be deemed notice,
         to Legal Counsel:                      Fleet Financial Group
                                                Legal Department MA BO F10C
                                                Attn: Real Estate Legal Counsel
                           if by U.S. Mail:     P. O. Box 2197
                                                Boston, MA 02106-2197

                                       24

<PAGE>

if by Fedex or other private courier:           75 State Street
                                                Boston, MA 02109

         Tenant:                                Premier Research Worldwide Ltd.

                           with copy to:        James H. Carll, Esquire
                                                Archer & Greiner
                                                One Centennial Square
                                                Haddonfield, NJ 08033-0968

or to such other addresses and to such other persons as the parties may from
time to time designate in writing. The time of giving of any such notice shall
be deemed to be three (3) days after such notice is mailed.

                        Article 24 - Broker's Commissions

         Pursuant to a separate agreement between Landlord and Insignia/ESG
("Broker"), Landlord shall pay a commission to Broker in connection with the
execution of this Lease. Each party hereto represents that it has not dealt with
any other real estate broker or agent in connection with the negotiation of this
Lease or the leasing of the Premises. Each party shall hold the other harmless
from all damages resulting from any claims that may be asserted against the
other party by any broker, finder, or other person or entity with whom the other
party has dealt.

                 Article 25 - Limitation of Landlord's Liability

         Tenant shall neither assert nor seek to enforce any claim for breach of
this Lease against any of Landlord's assets other than Landlord's interest in
the Property and in the rents, issues and profits thereof. No partner, trustee,
stockholder, officer, director, employee or beneficiary of Landlord shall be
personally liable under the Lease, and Tenant shall look solely to Landlord's
interest as the landlord in the Property in pursuit of its remedies upon an
event of default hereunder so that the general assets of Landlord and of the
individual partners, trustees, stockholders, officers, employees or
beneficiaries of the Landlord shall not be subject to levy, execution or other
enforcement procedure for the satisfaction of the remedies of Tenant. In the
event Landlord sells or otherwise transfers its interest in the Property (or a
part thereof which includes the Premises), then from and after such sale or
other transfer Landlord shall be released from liability hereunder and Tenant
shall look solely to the interests in the Property of Landlord's transferee for
the performance of all of the obligations of Landlord hereunder.

                       Article 26 - Rules and Regulations

         Tenant shall abide by the rules and regulations which may be
established from time to time by Landlord with respect to the Building and the
Property. In the event that there shall be conflict between such rules and
regulations and the provisions of this Lease, the provisions of

                                       25

<PAGE>

this Lease shall control.

                         Article 27 - Recording of Lease

         The parties hereto agree that this Lease shall not be recorded, but the
Landlord and Tenant hereby agree upon request of either party to enter into a
notice of lease in recordable form, setting forth the names of the parties,
describing the Premises, specifying the Term, and such other provisions, except
rental provisions, with respect to the Lease as will put on notice any third
party of the existence of this Lease. In such event, Tenant shall provide
Landlord with a release of notice of lease to be held by Landlord in escrow for
recording by Landlord in the event this Lease is terminated or expires.

                           Article 28 - Miscellaneous

         Section 28.01. The words "Landlord" and "Tenant", as used herein shall
include the plural as well as the singular. Words used in the masculine gender
herein shall include feminine and neuter forms thereof.

         Section 28.02. The covenants and conditions contained herein shall be
binding upon and inure to the benefit of the heirs, executors, administrators,
successors and assigns of the parties hereto.

         Section 28.03. The article headings in this Lease are for convenience
only, and shall not limit or otherwise affect the meaning of any provisions
hereof.

         Section 28.04. Time is of the essence in each and every provision of
this Lease.

         Section 28.05. The invalidity or unenforceability of any provision of
this Lease shall not affect any other provision hereof.

         Section 28.06. This Lease shall be construed and enforced in accordance
with the laws of the state in which the Premises are located.

         Section 28.07. This Lease constitutes the entire agreement between the
parties hereto and may not be modified in any manner other than by written
agreement, executed by all of the parties hereto or their successors in
interest. No prior understanding or representation of any kind made before the
execution of this Lease shall be binding upon either party unless incorporated
herein.

         Section 28.08. Submittal of a draft of this Lease does not constitute
an offer to lease the Premises upon the terms set forth herein. Neither party
shall be bound unless and until all necessary approvals are obtained and a
mutually satisfactory lease agreement has been executed and delivered by both
parties. Unless and until such agreement is fully executed and delivered by all
of the parties, any of the parties shall have the absolute right to enter into
discussions with other parties and, at any time and without notice, to terminate
negotiations regarding the proposed transaction without obligation.

                                       26

<PAGE>

         Section 28.09. Whenever Tenant shall claim under any provision of this
Lease that Landlord has unreasonably withheld or delayed its consent or approval
to some request of Tenant which consent Landlord has specifically agreed herein
not to unreasonably withhold or delay, Tenant shall have no claim for damages by
reason of such alleged withholding or delay, and Tenant's sole remedy therefore
shall be declaratory or injunctive relief, but in any event without the recovery
of damages. Unless Landlord has specifically agreed herein not to unreasonably
withhold or delay its consent in a given instance, all consents or approvals of
Landlord required herein may be granted or refused in Landlord's discretion.
Whenever Landlord agrees in this Lease that a required consent shall not be
unreasonably withheld or delayed, it is agreed that Landlord may withhold or
delay its consent if any master lessor or mortgagee shall have withheld or
delayed any consent which may be required of it.

         Section 28.10. EXCEPT IN THE CASE OF GROSS NEGLIGENCE, WILLFUL
MALFEASANCE OR WILLFUL MISFEASANCE, LANDLORD SHALL NOT BE LIABLE TO TENANT FOR
ANY CONSEQUENTIAL, SPECIAL OR INDIRECT DAMAGES, INCLUDING, BUT NOT LIMITED TO,
LOSS OF ANTICIPATED PROFITS, LOSS OF USE OR UTILIZATION OF FACILITIES, RESULTING
FROM ITS PERFORMANCE OR NONPERFORMANCE OF ITS OBLIGATIONS UNDER THIS AGREEMENT,
EVEN IF LANDLORD HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

                                       27

<PAGE>

IN WITNESS WHEREOF, the parties hereto have executed this Lease as of the date
first set forth above:

                                        LANDLORD:  Fleet Bank, N.A.

                                        By:  /s/ Terence J. Farrell
                                             ------------------------------
                                             Name:  Terence J. Farrell
                                             Title: Vice President

                                        TENANT: Premier Research Worldwide Ltd.

                                        By:  /s/ Fred M. Powell
                                             ------------------------------
                                             Name:  Fred M. Powell
                                             Title: Chief Financial Officer

In Boston, Massachusetts on the 14th day of May 1999, before me personally
appeared Terence J. Farrell, the Vice President of Fleet Bank, N.A., to me known
and known by me to be the person executing the foregoing instrument, and he
acknowledged said instrument by him executed to be his free act and deed in said
capacity and the free act and deed of Fleet Bank, N.A.

                                        /s/ Mary C. Mann
                                        ------------------------------
                                        Notary Public
                                        My commission expires:  5/1/03
                                                                ------

In _____________________________ on the ____________ day of __________________
1999, before me personally appeared the ___________________________, the
______________________________ of Premier Research Worldwide Ltd., to me known
and known by me to be the person executing the foregoing instrument, and he
acknowledged said instrument by him executed to be his free act and deed in said
capacity and the free act and deed of Premier Research Worldwide Ltd..

                                        ___________________________________
                                        Notary Public
                                        My commission expires:

                                       28

<PAGE>

                              EXHIBIT A - Premises

                                        i<PAGE>

                     DATED        10th December        1999
                     --------------------------------------

                         CAEC HOWARD (ARKWRIGHT) LIMITED

                                       and

                       PREMIER RESEARCH WORLDWIDE LIMITED

                     --------------------------------------

                                      LEASE
                      relating to Suites 1-10 Olympus House
                          Werringon Centre Peterborough
                         in the County of Cambridgeshire

                     --------------------------------------

                                  BIRCHAM & CO.
                                   SOLICITORS

<PAGE>

LEASE dated          10th December          1999

1.       PARTICULARS

         1.1      The Landlord

         CAEC HOWARD (ARKWRIGHT) LIMITED

         1.2      The Tenant

         RESEARCH DATA WORLDWIDE LIMITED whose registered office is at 400
         Carability Green Luton Bedfordshire

         1.3      The Property

         Ground floor office accommodation together with ancillary toilet
         accommodation shown for the purposes of identification only edged green
         on the attached plan and known as Suites 1-10 forming part of the
         Building

         1.4      The Building

         The building shown for the purposes of identification only edged red
         on the attached plan and known as Olympus House Werrington Peterborough

         1.5      The Term

         A term of ten years commencing on 1st October 1999 and any statutory
         continuation of the term of years

         1.6      The Rent

         From 1st October 1999 until 30th September 2004 the yearly rent of
         (pound)70,720 exclusive and thereafter such rent as may from time to
         time be agreed or determined in accordance with clause 6.7 by equal
         monthly instalments in advance on the first day of each month the first
         payment for the period from 1st October 1999 to 30th November 1999 to
         be made on the completion of this lease

         1.7      The Basic Service Charge

         (pound)22,115.50 per annum exclusive payable by equal monthly
         installments on the rent days (such charge being subject to adjustment
         and review in accordance with the provisions of the schedule hereto)
         the first payment for the period from 1st October 1999 to 30th November
         1999 to be made on the signing of this lease

         1.8      The Permitted Use

         Office accommodation and ancillary medical testing laboratory

         1.9      The Car Park

         The car park forming part of the Building

                                       -1-

<PAGE>

2.       LEASE

         2.1      Demise

                  The Landlord lets the Property to the Tenant together with the
                  rights specified in sub-clause 2.3 but excepting and reserving
                  the rights specified in sub-clause 2.3 for the term specified
                  in item 1.5 of the Particulars the tenant paying yearly and
                  proportionately for any fraction of a year the Rent and the
                  Basic Service Charge at the times and in the manner specified
                  in items 1.6 and 1.7 of the Particulars respectively

         2.2      Rights for the Tenant

         The following rights (which are common to the Landlord and occupiers of
         other properties adjoining or neighbouring the Property) are included
         in the letting:

                  2.2.1    the right (with or without vehicles on carriageways)
                           to go pass and re-pass to and from the Property over
                           and along any private highways and service yards
                           belonging to the Landlord giving access to the
                           Property until in respect of the said private
                           highways such time as the same shall become
                           maintainable at the public expense

                  2.2.2    the right to use the toilet accommodation within the
                           Building and which forms part of the Common Parts

                  2.2.3    the right of way on foot over the passageways within
                           the Building and which form part of the Common Parts
                           thereof to gain access to the Property

                  2.2.4    the right to free and uninterrupted use (subject to
                           minimum temporary interruption for repair alteration
                           or replacement) for the purpose of necessary supplies
                           to the Property of all Service Installations which
                           are not part of the Property

                  2.2.5    the right for the Property to be supported and
                           protected by the remainder of the Building

                  2.2.6    The right to park cars within the Car Park subject at
                           all times to the directions given from time to time
                           by the Landlord's Surveyor concerning the use of the
                           Car Park and the allocation of parking spaces therein
                           by means of regulations given under the provisions

                                       -2-

<PAGE>

                           of clause 4.32(a) and (b) hereof or otherwise BUT at
                           no time shall the Tenant be allocated less than ten
                           car parking spaces in the Car Park except when works
                           of repair or maintenance to the Building make this
                           impossible

         2.3      Exceptions

         There is excepted and reserved to the Landlord the free and
         uninterrupted use of all Service Installations which are in the
         Property and serve other properties or which shall come into existence
         within 80 years of the date of this lease

3.       INTERPRETATION

         In this Lease (including any schedule) where the context admits:

         3.1      the Particulars means the Particulars set out in clause 1 of
                  this lease and references to numbered items of the Particulars
                  are references to the numbered sub-clauses of that clause

         3.2      the Landlord means the person named as Landlord in item 1.1 of
                  the Particulars and includes any other person for the time
                  being entitled to the immediate reversion on this lease

         3.3      the Tenant means the person named as the Tenant in item 1.2 of
                  the Particulars and includes the successor in Title of the
                  Tenant to the term created by this Lease

         3.4      the Guarantor means the person (if any) named as the Guarantor
                  in item 1.3 of the Particulars

         3.5      the Property means the property described in item 1.4 of the
                  Particulars and includes:

                  3.5.1    any service installations exclusively serving the
                           Property notwithstanding they might extend beyond the
                           boundaries of the Property

                  3.5.2    all fixtures and fittings (except tenant's trade
                           fixtures and fittings) in or forming part of the
                           Property

                  3.5.3    And it is agreed and declared that:

                           3.5.3.1  the walls where these are common to other
                                    parts of the building of which the Property
                                    is part shall be treated as party walls and
                                    maintained as such

                                       -3-

<PAGE>

                           3.5.3.2  the structural part of any ceiling is not
                                    part of the Property but any decorative
                                    finish or false ceiling applied or fixed
                                    thereto is part of the Property

                           3.5.3.3  the decorative finishes (including plaster)
                                    within the Property applied to the
                                    structural parts of the Building form part
                                    of the Property

                           3.5.3.4  The structural part of any floor is not part
                                    of the Property but any finish applied or
                                    fixed thereto is part of the Property

         3.6      the Building means the building known as Olympus House and
                  external areas shown for the purposes of identification only
                  edged red on the attached plan of which the Property forms
                  part

         3.7      the Centre includes the Building and means the land and
                  buildings known as the Werrington Centre Staniland Way
                  Peterborough the approximate boundaries of which are shown by
                  the thick broken black line on the plan attached hereto and
                  where the context admits any additional buildings in which
                  after (but not more than 80 years after) the date of this
                  lease Landlord shall have acquired a freehold or leasehold
                  interest and which shall have been so constructed as to form
                  an integral part of the Centre

         3.8      the Common Parts mean any pedestrian ways concourses and
                  circulation areas toilet accommodation staircases escalators
                  and lifts service roads and servicing areas forecourts car
                  parks landscaped areas signs walls and any other structures
                  and any other ways or areas which areas are designated from
                  time to time by the Landlord for common use by or for the
                  benefit of those occupying the Centre and those visiting it
                  except the Building Common Parts

         3.9      the Building Common Parts mean the items listed under this
                  definition of the Common Parts but in this case they are
                  limited to those within the Building for the common use of
                  those occupying the Building and not the Centre as a whole

         3.10     the Retained Parts mean the Common Parts and any storage or
                  plant rooms used in connection with the provision of services
                  by the Landlord and all

                                       -4-

<PAGE>

                  Service Installations which serve the Building except the
                  Building Retained Parts

         3.11     the Building Retained Parts means the Building Common Parts
                  and any storage boiler and plant rooms used in connection with
                  the provision of the services by the Landlord to the occupiers
                  of the Building and not the Centre as a whole and all Service
                  Installations within the Building and those outside it which
                  exclusively serve it

         3.12     the Service Installations means sewers pipes wires flues ducts
                  channels drains gutters gullies and similar conduits and
                  apparatus for the supply of water electricity gas telephone
                  television or radio signals or for the disposal of fumes or
                  foul or surface water

         3.13     the Rent means the sum specified as Rent in item 1.6 of the
                  Particulars or such other sum as shall for the time being be
                  Rent under the provisions of clause 6.7

         3.14     the Landlord's Surveyor means the Head of Property Service for
                  the time being of the Landlord or such other person appointed
                  by the Landlord to act as its Surveyor for the purpose of this
                  lease who may or may not be a person in the full-time
                  employment of the Landlord

         3.15     Person includes a company corporation or other body legally
                  capable of holding land

         3.16     Masculine includes the feminine and the singular the plural
                  and vice versa

         3.17     Obligations undertaken by more than one person are joint and
                  several obligations

         3.18     any covenant by the Tenant not to do any act or thing shall be
                  construed as if it were a covenant not to do or permit or
                  other such act or thing

         3.19     rights excepted and reserved or granted to the Landlord shall
                  be construed as excepted and reserved or granted to the
                  Landlord and all persons authorised by the Landlord

4.       TENANT'S COVENANTS

         The Tenant covenants with the Landlord as follows:

         4.1      To pay Rent

         To pay the Rent and the Basic Service Charge at the times and in the
         manner

                                       -5-

<PAGE>

         described in items 1.6 and 1.7 of the Particulars respectively

         4.2 Outgoings

         To pay all existing and future rates taxes assessments
         impositions and outgoings assessed or imposed on or in respect of the
         Property (whether assessed or imposed on the Landlord or the Tenant)
         except:

         4.2.1 any tax in respect of the rents under this Lease (other than any
         amounts payable under clause 4.36)

         4.2.2 any tax in respect of the Grant of this Lease

         4.2.3 any tax in respect of any dealing by the Landlord with the
         reversion immediately expectant on the determination of the term

         4.3 Interest on arrears

         If any rent or other sums payable by the Tenant to the Landlord under
         this Lease shall be due but unpaid for 21 days to pay on demand to
         the Landlord (if the Landlord shall so require) interest at 3% above
         the current Barclays Bank plc base lending rate from time to time
         (which interest rate shall still apply after and notwithstanding any
         judgment of the Court) on such money from the due date until payment
         provided that this sub-clause shall not prejudice any other right
         remedy in respect of such money

         4.4 Repair and Decoration

                  4.4.1    To repair maintain and renew the interior of the
                           Property and keep the Property (other than the
                           structure of the Building which may form part of it
                           but including in particular the carpets and other
                           decorative finishes applied thereto) clean and in
                           good repair

                  4.4.2    As often as shall in the reasonable opinion of the
                           Landlord's Surveyor be necessary in order to maintain
                           a high standard of decorative finish and
                           attractiveness as well as to preserve the Property
                           (and at least once in any period of five years of the
                           term and in the last six months of the Tenant's
                           occupation of the property) to clean prepare and
                           paint or polish or otherwise treat in the appropriate
                           manner approved by the Landlord's Surveyor all
                           internal materials surfaces and finishes of the
                           Property and to wash all surfaces requiring washing

                                       -6-

<PAGE>

                  4.4.3    At the end of the tenancy created by this Lease to
                           give up the Property duly repaired and decorated in
                           accordance with the provisions of this sub-clause

         PROVIDED THAT.

                           4.4.4.1      All work referred to in this clause
                                        shall be done in a good and workmanlike
                                        manner and to the reasonable
                                        satisfaction of the Landlord's Surveyor

                           4.4.4.2      Papering and painting carried out in the
                                        last six months of the Tenant's
                                        occupation of the Property shall be
                                        carried out in colours first approved in
                                        writing by the Landlord's Surveyor

                           4.4.4.3      Damage by fire or any other peril
                                        covered by the Landlord's insurance is
                                        excepted from the Tenant's liability
                                        under this sub-clause unless the whole
                                        or part of the insurance money is
                                        irrecoverable by reason of any act or
                                        default of the Tenant

                           4.4.4.4      The Tenant shall pay the Landlord's
                                        Surveyor's reasonable and proper fees
                                        incurred as a result of any breach of
                                        this sub-clause

                           4.4.4.5      The Tenant shall pay a sum equivalent to
                                        the loss of rent incurred by the
                                        Landlord during such period as is
                                        reasonably required for the carrying out
                                        of works after the end of the tenancy by
                                        reason of any breach of this sub-clause
                                        without prejudice to any other right of
                                        the Landlord

         4.5      Maintenance

                  4.5.1    To keep the service installations which solely serve
                           the Property clear unobstructed and in good and fair
                           condition and not to do anything which causes an
                           obstruction or damage to any service installation in
                           the Centre

                  4.5.2    To take all necessary precautions against frost
                           damage to any pipes or water apparatus in the
                           Property

                                       -7-

<PAGE>

                  4.5.3    To take all necessary care and precautions to avoid
                           water damage to any other part of the Centre by
                           reason of bursting or overflowing of any pipe tank or
                           water apparatus in the Property and to indemnify the
                           Landlord against liability for any such damage

                  4.5.4    To clean the inner surface of the windows and other
                           lights and any glass in the doors and the skylights
                           of the Property as often as reasonably necessary

         4.6      To repair on notice

                  4.6.1    To make good with all practicable speed (commencing
                           work within two months or sooner if necessary and
                           then proceeding diligently) any defect in repair or
                           decoration of the Property for which the Tenant is
                           liable in accordance with the Tenant's covenants and
                           of which the Landlord has given notice in writing
                  4.6.2    If the Tenant shall not comply with paragraph 4.6.1
                           to allow the Landlord to enter the Property and make
                           good such defects and to repay to the Landlord on
                           demand the expense of doing so (including surveyor's
                           fees)

         4.7      Statutory requirements

                  4.7.1    To execute works and do all things on or in respect
                           of the Property which are required by the Offices
                           Shops and Railway Premises Act 1963 or any other
                           present or future Act of Parliament or by any order
                           byelaw or regulation

                  4.7.2    To comply with all requirements of any present or
                           future Act of Parliament order byelaw or regulation
                           as to the use of or otherwise concerning the Property

         4.8      To permit entry

                  4.8.1    To permit the Landlord and the Landlord's agents and
                           workmen and all others authorized by it on reasonable
                           notice during normal working hours (except in
                           emergency) to enter the Premises for the purposes of:

                           4.8.1.1 viewing and recording the condition of the
                           Property

                                       -8-

<PAGE>

                           4.8.1.2      repairing maintaining altering or
                                        cleaning any part of the Building (other
                                        than the Property) or premises adjoining
                                        the Building

                           4.8.1.3      repairing maintaining cleaning altering
                                        replacing or adding to any of the
                                        Service Installations which serve other
                                        parts of the Centre or nearby premises
                                        and for any other reasonable purpose
                                        connected with the management of the
                                        Landlord's adjoining or nearby property

         PROVIDED that the Landlord shall make good all damage to the Property
         caused by such entry

         4.9      Letting Board

                  During the last six months of the tenancy created by this
                  Lease to allow a letting board or notice to be displayed on
                  the Property and during the whole of the term to allow a sale
                  board or notice to be displayed on the Property (but not so
                  that any board or notice unnecessarily obstructs the light of
                  the Property) and to allow prospective tenants or purchasers
                  to view the Property at all reasonable times on reasonable
                  notice

         4.10     Alienation

                  4.10.1   Unless otherwise permitted under this Clause the
                           Tenant shall not:

                           4.10.1.1     hold the Property expressly or impliedly
                                        on trust for another person

                           4.10.1.2     part with possession of the Property

                           4.10.1.3     share possession of the Property with
                                        another person

                           4.10.1.4     allow anyone other than the Tenant or
                                        its employees to occupy the Property

                  4.10.2   The Tenant shall not assign a part (as distinct from
                           the whole) of the Property

                  4.10.3   The Tenant shall not assign the whole of the Property
                           without:

                           4.10.3.1     procuring that any intended assignee
                                        ("the Assignee") of the Demised Premises
                                        enters into direct covenants

                                       -9-

<PAGE>

                                        with the Landlord to pay the rents
                                        reserved by this Lease and observe and
                                        perform all the Tenant's covenants in
                                        this Lease from the date of the
                                        assignment or transfer of the Tenant's
                                        interest hereunder to the Assignee for
                                        the residue of the Term or until such
                                        interest is further assigned (other than
                                        by an excluded assignment within the
                                        meaning of Section 11 of the Landlord
                                        and Tenant (Covenants) Act 1995)
                                        whichever is the shorter period

                           4.10.3.2     obtaining the consent of the Landlord
                                        (such consent not to be unreasonably
                                        withheld)

                           4.10.3.3     first entering into an Authorised
                                        Guarantee Agreement within the meaning
                                        of Section 16 of the Landlord and Tenant
                                        (Covenants) Act 1995 in a form
                                        reasonably required by the Landlord

                  4.10.4   The Landlord may refuse the consent referred to at
                           4.10.3 above where there is at the time of the
                           Tenant's request for such consent any subsisting
                           breach of the Tenant's covenants hereunder

                  4.10.5   The Landlord shall be entitled to require as a
                           condition precedent to the grant of the consent
                           referred to at 4.10.3.2 above

                           4.10.5.1     (where the proposed assignee is a
                                        corporate body) the provision of a deed
                                        of covenant duly executed by one or more
                                        guarantors reasonably acceptable to the
                                        Landlord by which he or they enter into
                                        covenants with the Landlord in the form
                                        of the covenants set out in the Clause 8
                                        hereto, and/or

                           4.10.5.2     the deposit with the Landlord of a sum
                                        equal to at least one half of the yearly
                                        rent payable hereunder for the time
                                        being in such form as the Landlord may
                                        reasonably require

                           4.10.5.3     The power of the Landlord to decide upon
                                        any of the matters requiring its
                                        decision under sub-clause or

                                      -10-

<PAGE>

                           4.10.5.4     shall be exercised reasonably

                  4.10.6   The Tenant shall not charge a part (as distinct from
                           the whole) of the Property

                  4.10.7   The Tenant shall not charge the whole of the Property
                           except to a bank or similar financial institution for
                           the purpose only of borrowing money on the security
                           of this Lease

                  4.10.8   The Tenant shall not underlet the whole or any part
                           of the Property:

                           4.10.8.1     unless the proposed undertenant has
                                        first covenanted by deed with the
                                        Landlord in such form as the Landlord
                                        may reasonably require that with effect
                                        from the date of the underlease and
                                        during the term thereof
                                        the undertenant will observe and perform
                                        all the provisions of the underlease to
                                        be observed and performed by the
                                        undertenant; nor

                           4.10.8.2     (where the proposed undertenant is a
                                        corporate body and the Landlord
                                        reasonably so requires) without first
                                        procuring a covenant by deed with the
                                        Landlord from two individuals who are or
                                        a company which is acceptable to the
                                        Landlord as surety for the undertenant;
                                        nor

                           4.10.8.3     except by way of a "permitted
                                        underlease"; nor

                           4.10.8.4     (in the case of an underletting of part)
                                        in a unit or units first approved by the
                                        Landlord (such consent not to be
                                        unreasonably withheld or delayed); nor

                           4.10.8.5     without the prior written consent of the
                                        Landlord (which will not be unreasonably
                                        withheld or delayed)

                  4.10.9   A "permitted underlease" is an underlease which

                           4.10.9.1     is granted without any fine or premium

                           4.10.9.2     reserves a rent not less than the
                                        greater of the best rent which the
                                        Tenant ought reasonably to obtain in the
                                        open market upon the grant of such
                                        underlease and the

                                      -11-

<PAGE>

                                        Rent then payable or that reasonably
                                        attributable to the permitted part being
                                        that part of the Property approved by
                                        the Landlord in accordance with Clause
                                        4.10.6.4

                           4.10.9.3     incorporates provisions for the review
                                        of rent at the same times and on the
                                        same basis as in this Lease; and

                           4.10.9.4     is (so far as is consistent with an
                                        underlease) in a form substantially the
                                        same as this Lease except that further
                                        subletting shall be prohibited

                           4.10.9.5     is excluded from the operation of
                                        sections 24-28 of the Landlord and
                                        Tenant Act 1954; and

                           4.10.9.6     would not if granted produce more than
                                        two exclusively occupied units of
                                        accommodation in the Property

                  4.10.10   The Tenant shall enforce and shall not waive or vary
                            the provisions of an underlease and shall operate at
                            the relevant dates of review the rent review
                            provisions contained in an underlease but shall not
                            agree the rent upon such a review without the prior
                            approval of the Landlord

                  4.10.11   The Tenant may share occupation of the Property with
                            a company that is a member of the same group (as
                            defined by Section 42 of the Landlord and Tenant Act
                            1954):

                            4.10.11.1   for so long as both the Tenant and that
                                        company remain members of the same
                                        group; and

                            4.10.11.2   provided that no tenancy is created, and

                            4.10.11.3   provided that within 21 days of such
                                        sharing the Landlord receives notice of
                                        the company sharing occupation and the
                                        address of its registered office
         Notification

                  4.11.1    The Tenant shall upon request from time to time
                            provide within one month all information which the
                            Landlord may request under section 40(1)(a) and (b)
                            of the Landlord and Tenant Act 1954

                  4.11.2    The Tenant shall within 28 days of any assignment
                            charge or

                                      -12-

<PAGE>

                            underlease of or of any other devolution of this
                            Lease or of any interest deriving from this Lease
                            give notice thereof to the Landlord's solicitor
                            produce for registration the original or a certified
                            copy of the document effecting or evidencing such
                            devolution and pay such reasonable registration fee
                            as the Landlord's solicitor may require being not
                            less than (pound)20 (plus VAT)

         4.12     Heating Equipment

                  4.12.1    Not to provide within the Property equipment for the
                            dissipation of heat unless it is of a quality
                            character and design previously approved of in
                            writing by the Landlord's Surveyor and to install
                            such equipment in accordance with the reasonable
                            requirements of the Landlord's Surveyor
         Heating

                  4.12.2    Not at anytime during the Term to install or use
                            heating equipment in the Property for space heating
                            or heating the main water supply therein save with
                            the prior consent of the Landlord's Surveyor
                            equipment using for these purposes a supply of heat
                            from the Landlord's Heating Plant for the Building
                            Provided that the Tenant may use other forms of
                            heating at times when the supply of heat for the
                            said Heating Plant may fail or be reduced below that
                            sufficient to keep the Property and any hot water
                            supply at a reasonable temperature

         4.13     Alterations

                  4.13.1    Not to make any alterations or additions affecting
                            the structure of the Property or its external
                            appearance

                  4.13.2    Not without the Landlord's written consent (which
                            shall not be unreasonably withheld) to make any
                            other alterations or additions to the Property

                  4.13.3    Not to install or erect any exterior lighting shade
                            or awning or place leave or install any merchandise
                            or other things or structure in front of or
                            elsewhere outside the Property

                                      -13-

<PAGE>

                  4.13.4    At the end of the tenancy created by this Lease if
                            so required by the Landlord substantially to
                            reinstate the Property to the same condition as it
                            was in at the date of grant of this Lease such
                            reinstatement to be carried out under the
                            supervision and to the reasonable satisfaction of
                            the Landlord's Surveyor

                  4.13.5    To procure that any alterations or additions to the
                            Property which shall be permitted by the Landlord
                            under paragraph (b) shall be carried out only by
                            contractors first approved in writing by the
                            Landlord (which approval shall not be unreasonably
                            withheld)

         4.14     Signs

                  4.14.1    Not to place on the exterior of the Property any
                            name writing notice sign placard sticker or
                            advertisement

                  4.14.2    To remove if so required by the Landlord's Surveyor
                            any signs placards stickers or advertisements on or
                            inside the windows of the Property which shall in
                            his reasonable opinion detract from the appearance
                            of the Property or the Centre as a whole

         4.15     Deliveries etc

                  4.15.1    Not to load or unload vehicles except in the service
                            roads or servicing areas or yards and in the course
                            of such loading or unloading

                            4.15.1.1    to comply with all reasonable
                                        requirements and regulations of the
                                        Landlord and

                            4.15.1.2    not to cause any unnecessary obstruction

                            4.15.1.3    Not to permit any motor vehicle or
                                        trailer to be parked in the service
                                        roads or servicing areas or yards except
                                        for such period of time as may be
                                        reasonable for loading or unloading or
                                        as may be otherwise permitted by the
                                        Landlord
         4.16     Noisy machinery

         Not to install or use in or upon the Property any machinery or
         apparatus which causes noise or vibration which can be heard or felt in
         adjoining premises or which may cause structural damage

                                      -14-

<PAGE>

         4.17     As to supply services

                  4.17.1    To comply with the requirements and regulations of
                            the statutory authorities or other supply companies
                            with regard to any Service Installation in the
                            Property

                  4.17.2    Not without the Landlord's written consent (which
                            shall not be unreasonably withheld) to carry out the
                            work to any service installation as is referred to
                            in paragraph (a) or make any alteration or extension
                            to it

         4.18     Nuisance

         Not to do anything upon the Property which is or may become a nuisance
         damage or annoyance to the Landlord or to the tenant or occupier of
         other parts of the Centre

         4.19 Use

                  4.19.1    Not to use the whole or any part of the Property

                           4.19.1.1     for any illegal or immoral purpose

                           4.19.1.2     for any offensive noisy or dangerous
                                        trade business or manufacture

                           4.19.1.3     otherwise than as an office

                           4.19.1.4     Not to use the whole or any part of the
                                        Property for any business other than the
                                        business specified in item 8 of the
                                        Particulars or for any class of business
                                        other than the class of business so
                                        specified without the previous written
                                        consent of the Landlord Provided that:

                  4.19.2   the Landlord shall be entitled to withhold its
                           consent referred to in the above clause at its
                           absolute discretion if it is of the opinion that the
                           proposed change would or might adversely affect the
                           tenant-mix of the Centre (that is to say the balance
                           between different businesses and classes of business
                           carried on) whether by causing excessive competition
                           or otherwise

                  4.19.3   subject to clause 4.19.2 the Landlord's consent shall
                           not be unreasonably withheld

                           4.19.3.1     Not to allow any person to reside or
                                        sleep on the

                                      -15-

<PAGE>

                                        Property

                           4.19.3.2     Not to hold any sale by auction on the
                                        Property

                           4.19.3.3     Not to install any automatic vending
                                        machine on any part of the exterior of
                                        the Property

         4.20     Use of Common Parts

         To comply with the Landlord's reasonable regulations as to hours and
         times during which any part of the Common Parts and the Building Common
         Parts shall be closed for servicing cleaning or redecorating or some
         other reasonable purpose

         4.21     Not to invalidate insurance

                  4.21.1   Not (by act or omission) to do anything which may
                           invalidate any insurance policy effected by the
                           Landlord in respect of the Centre including the
                           Property or increase the premium for it

                  4.21.2   To repay to the Landlord all sums paid by way of
                           increased premiums by reason of any breach by the
                           Tenant of paragraph (a)

                  4.21.3   To notify the Landlord in writing within 24 hours of
                           any outbreak of fire in the Property or other event
                           likely to lead to a claim on the Landlord's insurance
                           relating to the Property

         4.22     Tenant's Insurances

                  4.22.1   To maintain in force throughout the term insurance in
                           respect of the Property against liability to third
                           parties for injury to or deaths of any person or
                           damage to any property and to maintain such insurance
                           for the benefit of the Landlord as well as the Tenant
                           and to produce to the Landlord on request the policy
                           relating to any insurance specified in paragraph (a)
                           and the last premium receipt

                  4.22.2   To indemnify the Landlord in respect of any loss or
                           damage which the Tenant is obliged to insure against
                           under this sub- clause

         4.23     Obstruction to access

                  4.23.1   Not to place or leave anything in the Common Parts
                           and the Building Common Parts or otherwise obstruct
                           them

                  4.23.2   To indemnify the Landlord against any damage which
                           may arise by reason of the Landlord (in order to
                           clear fire escape routes or

                                      -16-

<PAGE>

                           otherwise) removing goods placed or left in breach of
                           the covenant in paragraph (a)

                  4.23.3   To make good immediately any damage caused to the
                           Retained Parts and the Building Retained Parts by the
                           Tenant or any employee or licensee of the Tenant

         4.24     Floor loadings

                  4.24.1   Not to overload floors or any other structure of the
                           Property

                  4.24.2   Forthwith to make good to the reasonable satisfaction
                           of the Landlord's Surveyor any damage caused to the
                           Property or the Building by any breach of paragraph
                           (a) hereof

         4.25     Music etc

         Not to play or use any musical instrument or apparatus which reproduces
         sound in the Property so that it can be heard in adjoining premises or
         in the Building if the Landlord shall in its absolute discretion
         consider such sound is undesirable and give written notice to the
         Tenant to that effect

         4.26     Animals

         Not to keep any animal fish reptile or bird in the Property

         4.27     Pests

         To take all practical steps to keep the Property clear of rats mice and
         other pests

         4.28     To pass on Notices

         To supply The Landlord with a copy of any notice affecting the Property
         served on the Tenant by any competent authority (or received by the
         Tenant from any other person) immediately it is received by the Tenant

         4.29 As to Planning Acts

                  4.29.1   To comply with all the requirements under the Acts
                           relating to Town and Country Planning which affect
                           the Property

                  4.29.2   Not without the Landlord's written consent to make
                           any application for planning permission affecting the
                           Property nor to implement any such permission

         4.30     To preserve easements

                  4.30.1   To preserve so far as the Tenant is able all rights
                           of light and

                                      -17-

<PAGE>

                           other easements enjoyed by the Property and at all
                           times to afford to the Landlord such facilities and
                           assistance as may enable the Landlord to prevent
                           anyone acquiring any right of light or other easement
                           over the Property

         4.31     Expenses of the Landlord

                  To pay to the Landlord on an indemnity basis all costs fees
                  charges disbursements and expenses (including without
                  prejudice to the generality of the foregoing those payable to
                  counsel solicitors surveyors and bailiffs) incurred by the
                  Landlord in relation or incidental to:

                  4.31.1   every application made by the Tenant for a consent or
                           approval required or made necessary by the provisions
                           of this Lease whether or not such consent or approval
                           shall be granted or given

                  4.31.2   the preparation and service of a notice under Section
                           146 of the Law of Property Act 1925 or incurred by or
                           in contemplation of proceedings under Sections 146 or
                           147 of that Act notwithstanding that forfeiture is
                           avoided otherwise than by relief granted by the Court

                  4.31.3   the effecting of any forfeiture not requiring such
                           notice

                  4.31.4   the recovery or attempted recovery of arrears of rent
                           or other sums due from the Tenant

                  4.31.5   any steps taken in contemplation of or in connection
                           with the preparation and service of all notices and
                           schedules (whether statutory or otherwise) relating
                           to wants of repair to the Demised Premises or other
                           breaches of the Tenant's covenants in this Lease
                           whether served during or after the expiration of the
                           Term and the inspection and supervision of any works
                           required to be done

         4.32     Regulations and Refuse

                  4.32.1   To comply with all such regulations (consistent with
                           the terms of this Lease) for the proper management of
                           the Centre or the comfort or convenience of its
                           occupiers or the control or security

                                      -18-

<PAGE>

                           of the Common Parts and the Building Common Parts and
                           other Retained Parts as the Landlord shall make from
                           time to time and communicate in writing to the Tenant

                  4.32.2   In particular to comply with such regulations as are
                           referred to in clause 4.32.1 with regard to car
                           parking and the disposal of refuse and also to comply
                           with all requirements of any interested authority as
                           to refuse disposal

         4.33     Discharge private sewers

                  4.33.1   Not to discharge any trade effluent as defined by the
                           Public Health (Drainage of Trade Premises) Act 1937
                           as amended (or any re-enactment of the same) from the
                           Property into any private sewers for the time being
                           serving the same without the consent of the Landlord
                           and any competent authority and then subject to such
                           conditions as may be imposed including the charges
                           for treatment

                  4.33.2   Not to allow anything but water to be discharged into
                           any surface water sewer serving the Property

         4.34     Security and fire alarms

                  4.34.1   To permit the duly authorised employees and agents of
                           the Landlord and any security company which is
                           responsible for maintaining any fire alarm systems in
                           the Centre to enter the Property upon reasonable
                           notice during the usual business hours for the
                           purpose of servicing and maintaining such systems
                           Provided that the Landlord or security company
                           respectively shall make good any damage to the
                           Property

                  4.34.2   To maintain repair and when necessary renew any fire
                           alarms and ancillary equipment installed in the
                           Property by the Landlord

                  4.34.3   Not to make any connections to any alarm systems
                           provided by the Landlord without the prior written
                           consent of the Landlord's Surveyor and then not to
                           install in the Property any equipment or apparatus
                           which is intended to be an extension of any such fire
                           alarm system other than such apparatus or equipment
                           as is

                                      -19-

<PAGE>

                           compatible with the Landlord's equipment comprising
                           that system

         4.35     Keys and Signs

         At the end of the tenancy created by this Lease to give up all keys of
         the Property to the Landlord and remove all lettering and signs put up
         by the Tenant in the Property and forthwith to make good an y damage
         caused by such removal

         4.36 VAT

         In addition to the rents fees and other
         sums payable by the Tenant under this Lease to pay any Value Added Tax
         (or any substituted or similar tax) which is now or may become payable
         in respect of any such rents fees and other sums

5.       LANDLORD'S COVENANTS

         The Landlord covenants with the Tenant as follows:

         5.1      Quiet Enjoyment

         That as long as the Tenant pays the rent and complies with the terms of
         the Lease the Tenant may enjoy the Property peaceably during the term
         without any interruption by the Landlord or any person lawfully
         claiming under or in trust for the Landlord

         5.2 To insure

                  5.2.1    To keep the Building (including the Building Retained
                           Parts) and a sum to cover two years' rents insured
                           against fire and such other perils as the Landlord
                           may from time to time reasonably insure against such
                           insurance to be effected with a substantial and
                           reputable insurance office for the full reinstatement
                           value (including the cost of demolition and all
                           necessary professional fees in connection with
                           reinstatement)

                  5.2.2    In case of damage to the Building or any part of it
                           to apply any insurance money received by the Landlord
                           under the insurance referred to in paragraph (a) in
                           reinstating such damage as quickly as reasonably
                           practicable

         5.3      To provide services

         Within the Centre

                  5.3.1    To keep the Common Parts and Service Installations
                           serving the

                                      -20-

<PAGE>

                           Centre which are not the liability for repair of any
                           tenant or other occupier of Property therein
                           adequately repaired maintained cleaned and lighted
                           until these may be declared maintainable at the
                           public expense

Within the Building

                  5.3.2    To keep those parts of the Building including the
                           Building Common Parts which are not the liability for
                           repair of any tenant or other occupier thereof and in
                           particular the exterior and main structure and roof
                           of the Building and the Service Installation serving
                           it adequately repaired maintained decorated and
                           cleaned and to clean light and heat the Building
                           Common Parts and to provide heating to the areas of
                           the Building intended for letting to at least the
                           standard required under any statutory provisions for
                           office premises and to maintain an adequate supply of
                           hot water to the wash hand basins in the toilets of
                           the Building and other equipment and supplies in such
                           toilets as may be reasonable

6.       PROVISOS

         The Parties agree that the lease is subject to the following
         provisions:

         6.1      Landlord's right of re-entry

         In any of the following events:

                  6.1.1    If any rent or other sum due under this Lease is
                           unpaid for 28 days after becoming due (whether
                           formally demanded or not)

                  6.1.2    If there is a breach of any of the Tenant's covenants
                           contained in this Lease

                  6.1.3    If the Tenant (being an individual) becomes bankrupt
                           or makes any composition with his creditors or (being
                           a company) enters into liquidation (except voluntary
                           liquidation for the purpose of reconstruction or
                           amalgamation) or has a receiver appointed

                  6.1.4  if execution is levied on goods in the Property Then
                         the Landlord may re-enter the Property and the tenancy
                         created by this Lease shall immediately come to an end
                         and the re-entry shall not prejudice any of the
                         Landlord's other rights and remedies

                                      -21-

<PAGE>

         6.2      Suspension of rent

                  6.2.1     If the whole or any part of the Property or its
                            essential accesses or services are destroyed or
                            damaged by fire or any other risk covered by the
                            Landlord's insurance so as to render the Property
                            unfit for use then (unless the insurance money or
                            any part thereof is irrecoverable by reason of any
                            act or default of the Tenant) the rent or a fair
                            proportion of it according to the nature and extent
                            of the damage shall be suspended until the date that
                            the Property with the essential accesses and
                            services is again fit for occupation

                  6.2.2    Any dispute concerning this sub-clause shall be
                           referred to arbitration in the manner specified in
                           clause 7

                  6.2.3    Clause 6.2.1 above shall not apply if the Property
                           with its essential accesses and services are repaired
                           or reinstated within two weeks after the occurrence
                           of the damage in question

         6.3      Landlord's right to alter the premises

                  6.3.1    The Landlord shall be entitled to alter add to and
                           execute works on other parts of the Centre or
                           adjoining or nearby premises of the Landlord
                           (including if necessary work on the part of the
                           building above the Property and the erection of
                           scaffolding in front of the Property) notwithstanding
                           that the access of light and air to the Property may
                           be interfered with

                  6.3.2    The Landlord shall be entitled to alter the Common
                           Parts and the Building Common Parts but not so as to
                           render the access to or amenities of the Property
                           substantially less convenient for the Tenant

         6.4      Accidents

                  6.4.1    The Landlord shall not be responsible to the Tenant
                           or the Tenant's licensees nor to any other person in
                           the Property:

                           6.4.1.1      for any accident happening or injury
                                        suffered in the Property

                           6.4.1.2      for any damage or loss of any goods or
                                        property sustained in the Property

                                      -22-

<PAGE>

                  6.4.2    The Landlord shall not be responsible to the Tenant
                           or the Tenant's licensees nor to any other person in
                           the Centre:

                           6.4.2.1      for any accident happening or injury
                                        suffered in the Centre

                           6.4.2.2      for any damage or loss of any goods or
                                        property sustained in the Centre

         Except where due to the negligence of any employee of the Landlord

         6.5 As to goods left on the Property

         If at the end of the tenancy any furniture or effects belonging to the
         Tenant are left in the Property for more than 14 days the Landlord
         shall have the power to remove them and to sell the same as agent for
         and on behalf of the Tenant and the Landlord shall pay or account to
         the Tenant on demand for the proceeds of sale (but not any interest
         thereon) less any costs of storage and sale reasonably incurred by the
         Landlord

         6.6      Without prejudice to the
                  generality of the covenants by the Tenant
                  hereinbefore contained it is agreed that (a) in the event of
                  the service of a notice under any statutory provision
                  requiring by reason of anything done or permitted on the
                  Property during the term the execution of works therein or (b)
                  in the event of the need for structural repairs to the
                  Property in common with other adjoining or neighboring
                  Property belonging to the Landlord the Landlord may if it
                  shall so desire elect to execute such works and the Tenant
                  will on demand refund to the Landlord the proper and
                  reasonable costs of such works as shall be certified by the
                  Landlord's Surveyor. If the Landlord shall elect to execute
                  the aforesaid works then the Tenant shall afford to the
                  Landlord all necessary access to the Property and other
                  facilities for the purpose of carrying out the said works

         6.7.1    Where in this sub-clause the following emboldened words
                  commence with capital letters they have the following meanings
                  unless the context otherwise requires:

                           Review Dates

                           1st October 2004 and each subsequent fifth
                           anniversary of that date

                                      -23-

<PAGE>

                           Review Date

                           Any One of the Review Dates

                           Relevant Review Date

                           The Review Date by reference to which Rent is being
                           reviewed

                           Restrictions

                           Restrictions imposed by an Authority which operate to
                           impose any limitation in relation to the review of
                           rent or the collection of any increase in rent

                           Open Market Rent

                           As defined in Clause 6.7.4.

                  6.7.2    Time is not of the essence except where specified

                  6.7.3    With effect from each Review Date the Rent shall be
                           the amount payable (but for any abatement of Rent)
                           immediately prior to that Review Date or (if greater)
                           the Open Market Rent as agreed or determined under
                           this clause 6.7

                  6.7.4    "Open Market Rent" means the best yearly rent at
                           which the Property might reasonably be expected to be
                           let at the Relevant Review Date by a willing landlord
                           assuming that:

                           6.7.4.1      the Property is available to let as a
                                        whole to a willing tenant with vacant
                                        possession on the open market without a
                                        fine or premium under a lease for a term
                                        of fifteen years but commencing on the
                                        Relevant Review Date including
                                        provisions for review of rent on the
                                        Review Dates and otherwise on the same
                                        terms as this Lease (except as to the
                                        amount of the Rent)

                           6.7.4.2      the willing tenant has had the benefit
                                        of a rent free period of occupation of
                                        such length as would be granted in the
                                        open market and that this period has
                                        expired immediately before the Relevant
                                        Review Date

                           6.7.4.3      the covenants and provisions of this
                                        Lease on the part of the Landlord and
                                        the Tenant have been fully performed
                                        and observed

                                      -24-

<PAGE>

                           6.7.4.4      the Property may be used for any purpose
                                        (in addition to the Permitted Use) which
                                        is at the Relevant Review Date permitted
                                        under the Town and Country Planning Act
                                        1990 or any Act in re-enactment thereof
                                        or in substitution therefor

                           6.7.4.5      if the Property has been destroyed or
                                        damaged it has been fully restored

                           6.7.4.6      the Property is fully fitted out and
                                        equipped to the requirements of a
                                        willing tenant and is available for
                                        immediate beneficial occupation and use

                           6.7.4.7      no work has been carried out to the
                                        Property (unless by the Landlord or a
                                        superior landlord) which has diminished
                                        its rental value

                           6.7.4.8      every prospective willing landlord and
                                        willing tenant is able to recover VAT
                                        in full

                  6.7.5        but disregarding:

                           6.7.5.1      any effect on rent of the fact that the
                                        Tenant any undertenant or any of their
                                        respective predecessors in title have
                                        been in occupation of the Property

                           6.7.5.2      any goodwill attached to the Property by
                                        reason of the carrying on of the
                                        business of the Tenant any undertenant
                                        or any of their predecessors in title

                           6.7.5.3      any effect on rent of the Restrictions

                           6.7.5.4      any adverse effect upon rent of any
                                        temporary works operations or other
                                        activities on any adjoining or
                                        neighbouring property

                           6.7.5.5      any effect on rent attributable to any
                                        improvement to the Property carried out
                                        not more than ten years before the
                                        Relevant Review Date with consent where
                                        required and otherwise than in pursuance
                                        of an obligation to the Landlord or its
                                        predecessors in title to the extent only
                                        that such improvement has been carried
                                        out without

                                      -25-

<PAGE>

                                        cost to the Landlord or its predecessors
                                        in title and that such improvement was
                                        completed either during the Term or
                                        during any period of occupation prior to
                                        the commencement of the Term arising out
                                        of an agreement to grant this Lease

                           6.7.6.1      The Landlord may serve upon the Tenant
                                        notice during the period of nine months
                                        before or at any time after a Review
                                        Date requiring the Rent to be increased
                                        with effect from that Review Date or
                                        stating that the Rent is not to be
                                        increased

                           6.7.6.2      If the Landlord serves notice requiring
                                        the Rent to be increased ("Review
                                        Notice") the Landlord and the Tenant
                                        shall endeavour to agree the Open Market
                                        Rent as at the Relevant Review Date

                           6.7.6.3      If the Landlord and the Tenant do not
                                        agree the Open Market Rent within three
                                        months after service of a Review Notice
                                        or by the date three months before the
                                        Relevant Review Date (whichever is the
                                        later) either may by notice to the other
                                        require the Open Market Rent as at the
                                        Relevant Review Date to be determined
                                        by a Chartered Surveyor having at least
                                        ten years' experience in assessing the
                                        rental value of premises similar to the
                                        Property and acting as a single
                                        arbitrator

                           6.7.6.4      If the Landlord and the Tenant do not
                                        agree on the joint appointment of an
                                        arbitrator the arbitrator shall be
                                        nominated on the joint application of
                                        the Landlord and the Tenant (or if
                                        either of them neglects to concur in
                                        such application then on the sole
                                        application of the other) by the
                                        President or other chief officer or
                                        acting chief officer for the time being
                                        of the Royal Institution of Chartered
                                        Surveyors

                           6.7.6.5      The arbitrator shall act as an
                                        arbitrator in accordance

                                      -26-

<PAGE>

                                        with the Arbitration Acts 1950-1979

                           6.7.6.6      The arbitrator shall within three months
                                        of his appointment or within such
                                        extended period as the Landlord may
                                        agree give the Landlord and the Tenant
                                        written notice of the amount of the
                                        Open Market Rent as determined by him
                                        but if he does not or if for any reason
                                        it becomes apparent that he will not be
                                        able to complete his duties in
                                        accordance with his appointment the
                                        Landlord and the Tenant may agree upon
                                        or either of them may apply for the
                                        appointment of another arbitrator (which
                                        procedure may be repeated as often as
                                        necessary) pursuant to the provisions of
                                        this Clause 6.7

                           6.7.6.7      The costs of the arbitrator including
                                        those incidental to his appointment
                                        shall be borne by the Landlord and the
                                        Tenant in such manner as the arbitrator
                                        determines

                  6.7.7    Where the Rent payable with effect from a Review Date
                           is not ascertained prior to that Review Date the
                           Tenant shall:

                           6.7.7.1      with effect from the Relevant Review
                                        Date pay an "Interim Rent" at the rate
                                        at which Rent was payable (ignoring any
                                        abatement) immediately prior to that
                                        Review Date; and

                           6.7.7.2      if the Rent when ascertained exceeds the
                                        Interim Rent then within seven days of
                                        the Rent being ascertained ("the
                                        Payment Date") pay to the Landlord an
                                        amount equal to the aggregate of the
                                        sums by which each quarterly installment
                                        of Rent would have exceeded each
                                        instalment of Interim Rent had the Rent
                                        been ascertained by the Relevant Review
                                        Date together with interest on each of
                                        those sums from the date it would have
                                        been due to the Payment Date at a rate
                                        2% above the current Barclays Bank plc
                                        base lending rate from

                                      -27-

<PAGE>

                           time to time

                  6.7.8    Where Restrictions are in force at a Review Date the
                           Landlord may (whether or not Rent has been agreed or
                           determined with effect from that Review Date) give
                           notice to the Tenant at any time but not later than
                           28 days (in respect of which time is of the essence)
                           after such Review Date postponing that Review Date
                           until such later date (being not later than the next
                           following Review Date) as the Landlord may
                           subsequently by not less than three months' prior
                           notice specify and in that event the Rent payable
                           immediately prior to the Review Date that is
                           postponed shall (notwithstanding any review that may
                           have taken place as at that Review Date) continue to
                           be the Rent payable until increased upon review at
                           the postponed or (as the case may be) a subsequent
                           Review Date

                  6.7.9    Where Rent is increased with effect from a Review
                           Date the Landlord and Tenant shall (at their own
                           cost) sign memoranda thereof in such form as the
                           Landlord may reasonably require for annexation to
                           both the original and counterpart of this Lease

         6.8      In this clause 6.8 "Determination Date" means 30th September
                  2004

                  6.8.1    If the Tenant wishes to determine this Lease on the
                           Determination Date it must:

                           6.8.1.1      serve notice upon the Landlord not
                                        earlier than twelve months and not later
                                        than six months before the Determination
                                        Date (time being of the essence) of its
                                        intention to determine this Lease;

                           6.8.1.2      pay the Rent and perform and observe the
                                        covenants on the part of the Tenant
                                        contained in this Lease up to the
                                        Determination Date; and

                           6.8.1.3      yield up the Property on the
                                        Determination Date with vacant
                                        possession and otherwise in accordance
                                        with the provisions of this Lease

                  6.8.2    Subject to compliance with clause 6.8.1 of this Lease
                           shall

                                      -28-

<PAGE>

                           determine upon the Determination Date but without
                           prejudice to the rights of any party against another
                           in respect of any antecedent breach of covenant

                  6.8.3    Upon the Determination Date the Tenant shall hand
                           over to the Landlord the original Lease any land
                           certificate and all other title deeds and documents
                           relating to the Property and shall execute such
                           document as the Landlord shall reasonably require in
                           order to cancel any entry or title at H M Land
                           Registry

         6.9      The marginal notes shall not affect the construction of this
                  Lease

7.       ARBITRATION

         Wherever in this Lease there is provision for reference to arbitration
         then in the absence of any express contrary provision such reference
         shall be made in accordance with the Arbitration Acts 1950 to 1979 or
         any statute amending or replacing it to the determination of a single
         arbitrator (who shall so far as reasonably possible be a person
         experienced in the letting of premises similar to that the subject of
         this Lease to be agreed upon by the parties or failing agreement
         appointed by the President of the Royal Institution of Chartered
         Surveyors (or if the President is not available or is unable to make
         such appointment then by the Vice-President or next senior official of
         the Institution then available and able to make such appointment or if
         no such officer shall be available and able then by such officer of
         such professional body of surveyors as the Landlord shall reasonably
         designate)

8.       GUARANTEE

         The Guarantor covenants with and guarantees to the Landlord:

         8.1      That the Tenant shall duly pay the rents in manner prescribed
                  in this Lease and will comply with all the terms of this Lease
                  and that the Guarantor will make good to the Landlord on
                  demand all losses costs damages and expenses occasioned to the
                  Landlord by any default of the Tenant in paying the rents or
                  complying with the terms Provided that any neglect or
                  forbearance by the Landlord in enforcing or giving time to the
                  Tenant for payment of the rents or compliance with the terms
                  of this Lease shall not affect the liability of the Guarantor

                                      -29-

<PAGE>

         8.2      That in the event of the Tenant becoming bankrupt or entering
                  into liquidation and the trustee in bankruptcy or liquidator
                  disclaiming this Lease and the Landlord within two months
                  after the disclaimer serving upon the Guarantor a notice to do
                  so the Guarantor will accept from the Landlord a Lease of the
                  Property for a term equal to the residue then remaining
                  unexpired of the term granted by this Lease but otherwise on
                  the same terms as this Lease

9.       Certificate

         It is hereby certified by the parties that there is no agreement for
         lease to which this Lease gives effect

IN WITNESS whereof the parties to these presents have caused their respective
Common Seals to be affixed to this Deed the day and year first before written

                                      -30-

<PAGE>

                                  THE SCHEDULE

1.       The Service Charge to be paid by the Tenant under the terms of this
         Lease is to be calculated in two parts. First the Tenant shall
         contribute (together with other occupiers of the property within the
         Centre) to the maintenance of the Centre and the services provided
         therein by the Landlord for the benefit of the Centre those that occupy
         property therein and those that visit it and Secondly the Tenant shall
         contribute (together with the other occupiers of the Building) to the
         maintenance of the Building and the provision of services therein by
         the Landlord pursuant to clause 5.3 of this Lease and for the benefit
         of those that occupy the Building and those that visit it the Tenant's
         contributions as aforesaid to be calculated as appears herein

         1.1       "the Expenditure" means the Expenditure described in
         paragraph 1.4 and may (at the discretion of the Landlord) include a
         reasonable sum by way of provision for future Expenditure on such
         items in paragraph 1.4 as call for Expenditure of a periodically
         recurring but short term nature whether such expenditure is likely to
         be incurred during or after the end of the tenancy and shall be
         expressed in two parts the first being the expenditure attributable to
         the Centre excluding the Building (the Centre Exhibition) and the
         second the Expenditure limited to the Building and incurred for the
         benefit of solely those who occupy it (or parts of it) or visit it
         (the Building Expenditure)

         1.2       "Chargeable Unit" means a separate unit in the Centre
         which is let or intended for letting so that all the Chargeable units
         in the Centre (which include those within the Building) together
         comprise all the services in the Centre except the Retained Parts and
         the Building Retained Parts

         1.3        "Floor Area" means in relation to any Chargeable Unit the
         total internal floor area measured inside the boundary walls except in
         the case of a shop front where the measurement shall be taken from the
         boundary of the Property

         1.4       "The Tenant's Proportion" means the proportion of the Centre
         Expenditure and the Building Expenditure attributable to the Property
         as determined

                                      -31-

<PAGE>

                  from time to time by the Landlord's Surveyor in accordance
                  with paragraph 1.5

         1.5      "The Landlord's "Account year"" means a year ending on the
                  31st March or such annual period as the Landlord may at its
                  discretion determine from time to time and notify in writing
                  to the Tenant

2.       Basic Charge

         The Basic Service Charge shall be the yearly sum specified in item 1.7
         of the Particulars or such other yearly sum as the Landlord's Surveyor
         may from time to time determine as being fair and reasonable and notify
         in writing to the Tenant and shall comprise the two elements of the
         service charge as set out before

3.       Adjustments

         As soon as practicable after the end of each Landlord's Account Year
         the Landlord shall deliver to the Tenant a statement showing in
         reasonable detail the Centre Expenditure and the Building Expenditure
         for such year and showing the Tenant's Proportion of such Expenditure
         shown by such statement shall exceed the Basic Service Charge paid in
         respect of such Landlord's Account Year the Tenant shall immediately
         pay to the Landlord the amount of such excess. If the Tenant's
         Proportion of such total Expenditure shall be less than the Basic
         Service Charge paid in respect of such Landlord's Account Year then the
         Landlord shall allow to the Tenant off the next payment of rent (or if
         the tenancy has come to an end shall immediately pay to the Tenant) the
         amount of such difference. These Provisions shall continue to apply
         notwithstanding the tenancy has come to an end but only in respect of
         the period down to the end of the tenancy

4.       Expenditure

         The Expenditure comprises the cost properly incurred by the Landlord in
         respect of the Centre and the Building in discharging its obligations
         under clauses 5.2 and 5.3 of this Lease and providing other services
         and in particular (but is not limited to) the following items or such
         of them as may from time to time be applicable

         (a) repairing renewing and maintaining (including cleaning painting and
         decorative treatment and periodic washing) the Retained Parts and the
         Building Retained Parts

         (b) insurance against third party employer's and public liability in
         respect of

                                      -32-

<PAGE>

         the Retained Parts

         (c) such further insurances as the Landlord may reasonably effect in
         respect of the Building and the Centre and any lifts boilers or other
         apparatus therein

         (d) maintaining operating and replacing any signs loudspeakers or
         public address systems in the Retained Parts and the
         Building Retained Parts

         (e) maintaining repairing and replacing fire prevention and fire
         warning equipment in the Retained Parts and the Building Retained Parts
         and such security systems in the Building and the Centre as a whole and
         the cost of answering any false alarm calls where these cannot be
         recharged against the Tenant or other tenants of premises in the Centre

         (f) Providing staff for servicing and managing the Centre such cost to
         include insurance pensions and welfare contributions benefits in kind
         and provision of clothing

         (g) all charges assessments impositions and other outgoings (other than
         rent) payable by the Landlord in respect of the Centre as a whole or
         any part of the Retained Parts or Building Retained Parts

         (h) the cost of
         providing and maintaining any plants shrubs trees grassed areas flowers
         furniture or furnishings or feature in the Centre

         (i) the cost of collecting storing and disposing of refuse

         (j) the cost of and incidental to compliance by the Landlord with:

                  (i) any notice regulations or order of any competent authority
                  and

                  (ii) any requirement of any present or future Act of
                  Parliament Order Byelaw or Regulations in respect of the
                  Centre as a whole or of the Retained Parts

         (k) the reasonable and proper fees and expenses of the Landlord's
         Surveyor and any other person or firm employed by the Landlord for the
         general management of the Centre (or if any such person is an employee
         of the Landlord then a reasonable fee to the Landlord for such work)

         (1) all fees and expenses payable to any surveyor accountant or other
         agent in connection with the preparation and audit of any service
         account (or if such work is undertaken by an employee of the Landlord
         then a reasonable fee to the Landlord for such work)

                                      -33-

<PAGE>

5.       Tenant's Proportioned Expenditure

         In determining the Tenant's Proportion the Landlord's Surveyor shall
         calculate

         5.1      (as to the Centre) the floor area of the Chargeable Units
                  within the Centre at the end of the Landlord's Account Year
                  and the proportion of the floor area of the Property to this
                  total shall be the proportion of the Centre Expenditure to be
                  met by the Tenant and

         5.2      (as to the Building) the total floor area of the Chargeable
                  Units within the Building at the end of the Landlord's Account
                  Year and the proportion of the floor area of the Property to
                  this total shall be the proportion of the Building Expenditure
                  to be met by the Tenant

         AND the total of the Tenant' proportion of the Expenditure in respect
         of the Centre and the Building calculated under the provisions of parts
         .1 and .2 above is the Service Charge to be paid by the Tenant for the
         respective Landlord's Account Year

6.       Certificate

         Each annual statement of Expenditure shall be certified by the
         Landlord's Surveyor and a duly certified copy of such statement shall
         be evidence for the purposes of this Lease of the matters covered by
         such statement but the Landlord shall upon request permit the Tenant to
         inspect at any time up to two months of the delivery of a statement the
         vouchers and receipts for items included in it

7.       No implied obligations

         The inclusion of a service in the list contained in paragraph 4 shall
         not imply an obligation on the part of the Landlord to provide such
         service

Seal                                   (THE COMMON SEAL of PREMIER
                                       (RESEARCH WORLDWIDE LIMITED
                                       (was hereunto affixed in the presence of:

                                       Director

                                       /s/ signature illegible

                                       Director/Secretary

                                       /s/ signature illegible

                                      -34-

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