Document:

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                                                                  Exhibit 10.9

      COMMERCIAL CONTRACT DE COUNTERGUARANTEE AND DISCLOSURE OF SURETY BOND

In [Madrid], on [7th ] of [April] of two thousand.

                                     BETWEEN

OF THE FIRST PART AS  GUARANTOR ENTITIES:

CAJA DE AHORROS PROVINCIAL SAN FERNANDO DE SEVILLA Y JEREZ (CAJA SAN FERNANDO)
of Spanish nacionality, having its place business in Sevilla, Plaza de San
Francisco, 1, with Spanish National Company Tax Number G-41000167.

MONTE DE PIEDAD Y CAJA DE AHORROS DE HUELVA Y SEVILLA (EL MONTE), of Spanish
nacionality, having its place business in Sevilla, Plaza de Villais, 2, with
Spanish National Company Tax Number G-41/402819

CAJA DE AHORROS DE SALAMANCA Y SORIA (CAJA DUERO), having its place business in
Salamanca, Plaza de los Bandos, numbers 15-17, with Spanish National Company Tax
Number G-37244191

CAJA DE AHORROS Y MONTE DE PIEDAD DE ZARAGOZA ARAGON Y RIOJA (IBERCAJA) of
Spanish nationality, having its place of business in Zaragoza at Plaza Basilio
Paraiso, 2 with Spanish National Company Tax Number G-50-000.652

SOCIEDAD ESPANOLA DE BANCA DE NEGOCIOS, S.A., (EBN BANK) of Spanish nationality,
having its place of business in Madrid, calle de Almagro, 46, with Spanish
National Company Tax Number A-28763043

CAJA DE AHORROS DEL MEDITERRANEO (CAM), having its place business in Alicante,
calle San Fernando, 40, with Spanish National Company Tax Number G-03046562

CAJA DE AHORROS Y MONTE DE PIEDAD DE BALEARES, (SA NOSTRA) with Spanish National
Company Tax Number G-07-013154, having its place business in Palma de Mallorca,
Calle Ramon Llull, numero 2.

MONTES DE PIEDAD. Y CAJA DE AHORROS DE RONDA, CADIZ, ALMERIA, MALAGA Y ANTEQUERA
(UNICAJA), with Spanish National Company Tax Number G-29498086 and having its
place business in Malaga, Avenida de Andalucia, numero 10-12.

duly represented in this act, (hereinafter known as THE GUARANTOR ENTITIES )

OF THE SECOND PART AS  THE GUARANTEED PARTY:

COMUNICATIONS SPAIN, S.L. (PRIVATE LIMITED COMPANY), having its place of
business in Barcelona, at Avenida Diagonal, 654-B, with Spanish National Company
Tax Number B 6192069, duly represented in this act (hereinafter known as THE
GUARANTEED PARTY).

AND OF THE THIRD PART AS  WARRANTORS OF THE GUARANTEED PARTY:

FIRSTMARK COMUNICATIONS EUROPE of Luxembourg nacionality, having its place of
business in Louxemburg, Rue de Jean Piret, 3, with Identification Code B-65.610

<PAGE>

INMOBILIARIA AZTLAN SOCIEDAD ANONIMA DE CAPITAL VARIABLE, of Mexican
nationality, having its place of business in FD Mexico, at Parque Via Avenida,
198, Colonia Cauthtemoc

PROMOTORA DE INFORMACIONES, S.A., Spanish company, having its place of business
in Madrid, at Gran Via 32, with Spanish National Company Tax Number A28/297059

INFORMATICA DEL CORTE INGLES, S.A., of Spanish nacionality, having its place of
business in Madrid, Hermosilla, 112, with Spanish National Company Tax Number
A-28855260

OMEGA CAPITAL, S.L., of Spanish nacionality, having its place of business in
Madrid, Paseo de la Castellana 31, with Spanish National Company Tax Number
B-80932445

CAJA DE AHORROS DE SALAMANCA Y SORIA (CAJA DUERO), having its place of business
in Salamanca, Plaza de los Bandos, numbers 15-17, with Spanish National Company
Tax Number G-37244191

CAJA DE AHORROS Y MONTE DE PIEDAD DE ZARAGOZA ARAGON Y RIOJA (IBERCAJA), of
Spanish nationality, having its place of business in Zaragoza, Plaza Basilio
Paraiso, 2, with Spanish National Company Tax Number G-50-000.652.

CAJA DE AHORROS PROVINCIAL SAN FERNANDO DE SEVILLA Y JEREZ (CAJA SAN FERNANDO)
of Spanish nationality, having its place of business in Seville, Plaza de San
Francisco, 1, with Spanish National Company Tax Number G-41000167

MONTE DE PIEDAD Y CAJA DE AHORROS DE HUELVA Y SEVILLA (EL MONTE), of Spanish
nationality, having its place of business in Seville, at Plaza de Villais, 2,
with Spanish National Company Tax Number G-41/402819

DIARIO DE BURGOS, S.A. Spanish company, having its place of business in Burgos,
at calle de San Pedro de Cardena,34, with Spanish National Company Tax Number
A-09002387.

duly represented in this act,(hereinafter known as THE WARRANTORS OR THE
WARRANTING ENTITIES)

AND OF THE FOURTH PART

FONSAGRADA. S.L. appearing for the sole purposes which shall be stated, of
Spanish nacionality, having its place of business in Madrid, Paseo de la
Castellana, 31, with Spanish National Company Tax Number B-79314191.

All such entities represented by the persons signing at the end of this
contract, hold that they have sufficient powers and faculties to bind their
representatives to the terms of this contract.

                                     DECLARE

I.- That the GUARANTEED PARTY has been awarded one of the licences which were
referred to in the public auction held following two state Orders of the 7th of
October 1999 (BOE - Spanish Official State Gazette number 242, of 9). This
concerned the awarding of three licences of the C2 class for the establishment
and use of fixed public networks of radio access in the waveband 3.4 to 3.6 Ghz.

                                      -2-
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That the awarding of said individual licence is governed by the document of
particular administrative clauses and technical provisions approved by the
aforesaid Orders of the Spanish Ministry of Public Works.

II.- That, by virtue of the terms of the 9th (final) Administrative Clause of
the Document of Particular Administrative Clauses and Technical Prescriptions of
Public Invitations to Tender FIRSTMARK COMUNICACIONES ESPANA, S.L. has tendered
the constitution of FIFTY ONE (51) endorsements (hereinafter known as the
ENDORSEMENTS) to correspond to the obligations that are contained in the tender
that were submitted in the invitation to tender alluded to in the previous
Expositive.

III. - That the GUARANTEED PARTY has requested from the GUARANTOR ENTITIES the
concession of FIFTY ONE (51) endorsements, for their delivery and deposit in the
Caja General de Depositos of the Spanish Ministry of Public Works, for up to the
time, limit and other conditions that shall be stated, by which the GUARANTOR
ENTITIES secure the GUARANTEED PARTY before the Spanish Ministry of Public
Works, (hereinafter known as the BENEFICIARY) to the total sum of THIRTY
THOUSAND,SIX HUNDRED AND TWENTY ONE MILLION FIVE HUNDRED THOUSAND PESETAS
(30,621,500,000.-ptas), equivalent to184,038,921.54 euros, for the purpose of
corresponding to the obligations that are set out in each one of the
ENDORSEMENTS that are the object of this contract, and a copy of which is
incorporated as an appendix hereto.

IV.- That the GUARANTOR ENTITIES have agreed with the GUARANTEED PARTY to the
provision of the guarantees requested, along with the formalization of the
counterguarantee and disclosure of a surety bond in order to regulate the
relationships deriving from the provision of the ENDORSEMENTS. This is in
addition to the relationships that arise from the granting of said ENDORSEMENTS
and to guarantee the risks deriving from the provision thereof to the GUARANTOR
ENTITIES.

V.- That the GUARANTOR ENTITIES, with the aim of normalizing the relationship
that derives between them as endorsing parties of the GUARANTEED PARTY with
respect to BENEFICIARY, have agreed to the establishing of a guarantor syndicate
which has been appointed as the AGENT ENTITY to EBN BANCO (hereinafter known as
the AGENT ENTITY), and that for this reason it appears in this contract in its
double capacity as both GUARANTOR ENTITY and as AGENT ENTITY of the the
guarantor syndicate.

VI.- That, with the intention that the obligations of the GUARANTEED PARTY with
respect to GUARANTOR ENTITIES, deriving from the provision by the latter of the
ENDORSEMENTS referred to in favour of the BENEFICIARY, be sufficiently
guaranteed, the GUARANTEED PARTY has offered the GUARANTOR ENTITIES, and the
latter have accepted, the provision of surety bonds by the WARRANTORS, in the
terms that are set out under this contract.

VII.- These being the facts, and desiring that the parties represented herein
set the terms, conditions and guarantees of the transaction, it has been agreed
to formalize this COMMERCIAL CONTRACT OF COUNTERGUARANTEE AND DISCLOSURE OF
SURETY BOND, in accordance with the following

                                     CLAUSES

FIRST.- FORMATION OF THE GUARANTOR SYNDICATE.

CAJA DE AHORROS PROVINCIAL SAN FERNANDO DE SEVILLA Y JEREZ (CAJA SAN FERNANDO);
MONTE DE PIEDAD Y CAJA DE AHORROS DE HUELVA Y SEVILLA (EL MONTE); CAJA DE
AHORROS DE SALAMANCA Y SORIA (CAJA DUERO); CAJA DE AHORROS Y MONTE DE PIEDAD DE
ZARAGOZA, ARAGON Y RIOJA (IBERCAJA); CAJA DE AHORROS DEL MEDITERRANEO (CAM);
CAJA DE AHORROS Y MONTE DE PIEDAD DE BALEARES (SA NOSTRA); MONTES DE PIEDAD Y
CAJA DE AHORROS DE RONDA, CADIZ, ALMERIA, MALAGA Y ANTEQUERA (UNICAJA) AND
SOCIEDAD ESPANOLA DE BANCA DE NEGOCIOS, S.A. (EBN BANCO) constitute a guarantor
syndicate with the aim of covering the surety requested by the GUARANTEED PARTY,
for the sum of THIRTY THOUSAND SIX HUNDRED AND TWENTY ONE MILLION FIVE HUNDRED
THOUSAND PESETAS

                                      -3-
<PAGE>

(30.621.500.000.-ptas.), equivalent to [184,038,921.54].-euros, in order to meet
the commitments and obligations that are referred to in Expositives II and III
of this contract.

The individual participation of each one of the GUARANTOR ENTITIES in the total
sum of the ENDORSEMENTS are set at the amount which is detailed below.

<TABLE>
<CAPTION>
                   GUARANTOR ENTITY    PARTICIPACION                 %
       <S>                             <C>                        <C>
       CAJA DUERO                      6.000.000.000.-ptas.       19,594%
       CAJA SAN FERNANDO               6.000.000.000.-ptas.       19,594%
       EL MONTE                        4.000.000.000.-ptas.       13,063%
       IBERCAJA                        4.000.000.000.-ptas.       13,063%
       EBN BANCO                       3.621.500.000.-ptas.       11,827%
       CAM                             3.000.000.000.-ptas.        9,797%
       SA NOSTRA                       2.000.000.000.-ptas.        6,531%
       UNICAJA                         2.000.000.000.-ptas         6,531%
</TABLE>

The rights and obligations which each GUARANTOR ENTITY takes on are of a several
nature, the rights and obligations that derive from the formalization of this
contract being wholly independent of each other, except where the contrary is
expressly stated.

The surety bonds which are the object of this contract are implemented by means
of the issuing, in a several form, on the part of the GUARANTOR ENTITIES of the
51 syndicated ENDORSEMENTS to which reference has been made in the expositive
part herein.

The participation of each GUARANTOR ENTITY in each one of the ENDORSEMENTS will
be adjusted to its participation in the Guarantor Syndicate.

In the event that any of the GUARANTOR ENTITIES, in spite of the commitments
that are contracted under this contract, have the necessity of having a warranty
for breach of the obligations of the GUARANTEED PARTY, and not placing at the
disposition of the AGENT ENTITY the funds promised in accordance with this
contract, this shall not affect the other GUARANTOR ENTITIES. The latter shall
only be bound to place at the disposal of the AGENT ENTITIES the funds that are
within the limits of their liability, that correspond to them according to their
participation in the ENDORSEMENTS, without, as a result, they are bound to
assume the part corresponding to the GUARANTOR ENTITY that breaches the contract
and even though said part may fall within the maximum liability of the other
GUARANTOR ENTITIES. The foregoing shall be understood to be without prejudice to
the claims arising against the breaching party that may be encumbered upon the
GUARANTEED PARTY.

Any of the GUARANTOR ENTITIES shall be entitled to undertake actions of an
extrajudicial nature which may be conducive to the maintenance of their own
rights and those of the other GUARANTOR ENTITIES. Notwithstanding this, a
GUARANTOR ENTITY shall only be entitled to exercise its own rights judicially,
subject to the terms of this contract.

SECOND.- AGENCY.

                                      -4-
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1. The AGENT ENTITY in this syndicate, by agreement with the GUARANTOR ENTITIES,
shall be EBN BANCO. Without detracting in any way from the independent nature of
the obligations of the GUARANTOR ENTITIES under this contract, it is expressly
stipulated that, as regards the development and operation thereof, the AGENT
ENTITY acts, not only for itself, but also as a special agent of an irrevocable
nature of the GUARANTOR ENTITIES. The payments of any nature deriving under this
contract shall be specifically made by the GUARANTEED PARTY to the AGENT ENTITY.
These shall take full and free effect on the GUARANTEED PARTY and/or its
WARRANTORS, as if they had been received in the corresponding ratio by the
GUARANTOR ENTITIES. In accordance with the terms of the second paragraph of
section 1170 of the Spanish Civil Code; in the event of a cheque forwarded in
payment to the AGENT ENTITY not being capable of being met, then said act shall
not have the effect of payment. Nor, consequently, shall it free those parties
from their obligation, nor give the AGENT ENTITY, when it makes the payments in
favour of the GUARANTOR ENTITIES, the corresponding right of action against
them.

In the same manner, and while it is not expressly stated to the contrary,
whatever notification made or received by the AGENT ENTITY, shall have the same
effect as if it had been drawn up or made by all of the GUARANTOR ENTITIES.

2. All the payments whether they be of principal, interest, commissions and
other concepts made by the GUARANTEED PARTY and/or its WARRANTORS, deriving
under this contract, shall be distributed by the AGENT ENTITY among the
GUARANTOR ENTITIES in such a manner that, at all times, they shall all be paid
in proportions which are identical to their participation in the ENDORSEMENTS.

The possible rights of the GUARANTOR ENTITIES to obtain payments from the
GUARANTEED PARTY and/or its WARRANTORS based on causes and obligations that are
different from those contained in this contract, shall not be affected by the
terms herein.

3. The powers of representation that the GUARANTOR ENTITIES grant to the AGENT
ENTITY, shall be understood to be limited to those actions and steps that, as
specifically foreseen under this contract, shall be necessary for the
performance and effectiveness of the same.

Under no circumstances shall the AGENT ENTITY hold a fiduciary capacity with
respect to the GUARANTOR ENTITIES, of the GUARANTEED PARTY or any other persons,
its duties and obligations being limited to those expressly set forth in this
contract, in accordance with these principles, and in a declarative manner:

         a)       The AGENT ENTITY shall not be liable to the GUARANTOR
                  ENTITIES, by reason of providing the ENDORSEMENTS, for the
                  performance, validation or exiguity of this contract or
                  whatever other complementary document, or the veracity or
                  certainty of the declarations contained herein or in the
                  communications that it receives, nor as regards the
                  feasibility of compliance with its obligations by the
                  GUARANTEED PARTY or its WARRANTORS.

                                      -5-
<PAGE>

         b)       The duty to provide information by the AGENT ENTITY shall be
                  understood to be limited to those communications as shall be
                  necessary for the normal compliance with, and undertaking of,
                  the contract, or its exiguity in the event of breach.

                  The AGENT ENTITY shall not be bound to verify the veracity of,
                  or compliance with, the commitments assumed by the GUARANTEED
                  PARTY and its WARRANTORS. Neither shall it be bound to
                  investigate the existence of the possible causes of breach or
                  the weakening of the condition of solvency of the GUARANTEED
                  PARTY or its WARRANTORS.

         c)       In performing its representative powers, the AGENT ENTITY
                  shall not contract any liability should the instructions that
                  are received be adjusted. In the absence of such instructions
                  and in an emergency case, it shall act at its own prudent
                  discretion, in accordance with banking norms, without any
                  prejudice to that which is expressly set out under this
                  contract.

         d)       In complying with its other tasks and duties set forth in this
                  contract, the AGENT ENTITY shall have no liability of a
                  serious nature, other than that which may derive thereunder,
                  without prejudice to the liability for any agreement that may
                  have been concluded between the GUARANTEED PARTY and the AGENT
                  ENTITY.

         e)       The employees and representatives of the AGENT ENTITY,
                  whatever their status and capacity may be, shall not incur any
                  personal liability with respect to the other GUARANTOR
                  ENTITIES as a result of its professional performance as it
                  relates to this transaction.

         f)       Each one of the GUARANTOR ENTITIES declares to the AGENT
                  ENTITY that, as regards this contract, it has made its own
                  independent investigation and evaluation of the financial
                  situation and the business of the GUARANTEED PARTY and of the
                  WARRANTORS.

4. The GUARANTOR ENTITIES undertake to repay the AGENT ENTITY, in proportion to
their participation in the ENDORSEMENTS, all the ordinary and extraordinary
expenses caused to the AGENT ENTITY and justified by the latter in the
performance of its work and always provided that the same are not paid by the
GUARANTEED PARTY.

5. Regardless of this contract, the AGENT ENTITY shall be entitled to accept
deposits, lend money and, in general, in the same manner as the other GUARANTOR
ENTITIES, carry out all classes of banking transactions with the GUARANTEED
PARTY.

6. The AGENT ENTITY shall be entitled to waive said post by means of written
notification to the other GUARANTOR ENTITIES and the GUARANTEED PARTY. In such a
case, they shall have the right to appoint, from among themselves, a new AGENT
ENTITY, by means of majority agreement, taking into consideration the effect on
the participation of each of them in the ENDORSEMENTS, without prejudice to
whatever agreement that may have been reached between the GUARANTEED PARTY and
the AGENT ENTITY.

                                      -6-
<PAGE>

In the event of no replacement having been appointed by the GUARANTOR ENTITIES
within two months of the notification, or the designated party not having
accepted the appointment, the AGENT ENTITY shall be entitled to make the
appointment itself, from among the GUARANTOR ENTITIES.

The waiver of the foregoing and a new appointment shall take effect from the
date of acceptance of the new AGENT ENTITY, and shall be notified to the
GUARANTEED PARTY.

The new AGENT ENTITY shall be vested with the same rights, powers, obligations
and duties as the outgoing AGENT ENTITY, in accordance with the terms of this
contract, including the obligations that may be contained in an agreement
reached between the GUARANTEED PARTY and the AGENT ENTITY.

Under no circumstances shall the waiver by the AGENT ENTITY nor the appointment
of a new one imply the assumption of new obligations, nor increased costs for
the GUARANTEED PARTY, that are not expressly assumed by virtue of this contract
or an agreement reached between the latter and the outgoing AGENT ENTITY.

The replacement of EBN BANCO as AGENT ENTITY, except in the event that it takes
place at the request of said Entity, shall only take effect from the time at
which, the previous requirements having been met, the ENDORSEMENTS made by the
latter are substituted for others made by the Entity that replaces it, or in the
case of it being accepted by the BENEFICIARY, severally made by the GUARANTOR
ENTITIES.

THIRD.- PURPOSE AND CONDITIONS OF THE ENDORSEMENTS TO BE MADE.-

CAJA DE AHORROS PROVINCIAL SAN FERNANDO DE SEVILLA Y JEREZ (CAJA SAN FERNANDO);
MONTE DE PIEDAD Y CAJA DE AHORROS DE HUELVA Y SEVILLA (EL MONTE); CAJA DE
AHORROS DE SALAMANCA Y SORIA (CAJA DUERO); CAJA DE AHORROS Y MONTE DE PIEDAD DE
ZARAGOZA, ARAGON Y RIOJA (IBERCAJA); CAJA DE AHORROS DEL MEDITERRANEO (CAM);
CAJA DE AHORROS Y MONTE DE PIEDAD DE BALEARES (SA NOSTRA); MONTES DE PIEDAD Y
CAJA DE AHORROS DE RONDA, CADIZ, ALMERIA, MALAGA Y ANTEQUERA (UNICAJA) AND
SOCIEDAD ESPANOLA DE BANCA DE NEGOCIOS, S.A. (EBN BANCO) expressly agree with
the GUARANTEED PARTY, in the same act, to the formalization of a line of
syndicated endorsements up to an overall limit established under this Clause,
under the protection provided by the GUARANTOR ENTITIES, and to the ENDORSEMENTS
in favour of the GUARANTEED PARTY before the Spanish Public Works Ministry, a
copy of which is included in this contract, without prejudice to the fact that
they still may not have been deposited in the Caja General de Depositos.

The GUARANTEED PARTY and the WARRANTORS state their agreement with the terms of
the ENDORSEMENTS .

The ENDORSEMENTS made have been recorded in the Special Registry of ENDORSEMENTS
of the AGENT ENTITY in the numbers that are indicated that run consecutively
from 2,100,883 to 2,100,933 inclusive.

                                      -7-
<PAGE>

The ENDORSEMENTS are granted to an overall maximum of THIRTY THOUSAND SIX
HUNDRED AND TWENTY ONE MILLION FIVE HUNDRED THOUSAND PESETAS
(30.621.500.000.-ptas.), equivalent to 184,038,921.54.-euros. Each one is for an
individual amount, of temporary validity, and for the purpose and the other
conditions that are established in the respective ENDORSEMENT documents. These
shall be cancelled, following a request from the AGENT ENTITY, by a resolution
issued for such purposes by the BENEFICIARY.

The overall maximum limit that the GUARANTOR ENTITIES grant to the GUARANTEED
PARTY, set out in the previous paragraph, are of a non rotative nature, that is
to say, that they will be reduced in accordance with the cancellation of the
ENDORSEMENTS granted, and shall be considered to be fully terminated once the
cancellation of all of them has taken place.

The GUARANTEED PARTY shall be entitled to fully or partially cancel the
transaction at any time, provided that it delivers the vouchers of full or
partial cancellation of the ENDORSEMENTS issued by the Caja General de Depositos
to the AGENT ENTITY, with the verification that the said ENDORSEMENTS have been
fully or partially cancelled.

FOURTH.- GUARANTEE AND LIABILITY OF THE WARRANTORS.-

The WARRANTORS and for the purposes and under the conditions that shall be
stated, the company FONSAGRADA S.L jointly guarantee to CAJA DE AHORROS
PROVINCIAL SAN FERNANDO DE SEVILLA Y JEREZ (CAJA SAN FERNANDO); MONTE DE PIEDAD
Y CAJA DE AHORROS DE HUELVA Y SEVILLA (EL MONTE); CAJA DE AHORROS DE SALAMANCA Y
SORIA (CAJA DUERO); CAJA DE AHORROS Y MONTE DE PIEDAD DE ZARAGOZA, ARAGON Y
RIOJA (IBERCAJA); CAJA DE AHORROS DEL MEDITERRANEO (CAM); CAJA DE AHORROS Y
MONTE DE PIEDAD DE BALEARES (SA NOSTRA); MONTES DE PIEDAD Y CAJA DE AHORROS DE
RONDA, CADIZ, ALMERIA, MALAGA Y ANTEQUERA (UNICAJA) AND SOCIEDAD ESPANOLA DE
BANCA DE NEGOCIOS, S.A. (EBN BANCO), and severally among themselves to the
GUARANTEED PARTY, in an unconditional and irrevocable manner , all the
obligations contained under this contract under the same terms and conditions
and time periods agreed therein, even when its liability does not appear to be
expressly stated in any of the provisions of this document. The WARRANTORS
expressly waive the benefits of exclusion, before the GUARANTOR ENTITIES, and by
the order regulated in section 1830 and subsequent ones of the Spanish Civil
Code, they also waive the right to oppose that goes contrary to the interests of
GUARANTEED PARTY by virtue of this contract.

By virtue of said guarantee, without prejudice to what is established hereafter,
each one of the WARRANTORS shall be jointly responsible to the GUARANTOR
ENTITIES for the breach of the GUARANTEED PARTY in the percentage, and for the
maximum amount that is set out below:

<TABLE>
<CAPTION>
                       WARRANTORS                              PERCENTAGE               AMOUNT
<S>                                                           <C>                   <C>
FIRSTMARK COMUNICATIONS EUROPE                                   35.00%             10,717,525,000 pta

INMOBILARIA AZTLAN SOCIEDAD DE
CAPITAL VARIABLE (AZTLAN)                                        17.50%              5,358,762,500 pta

PROMOTORA DE INFORMACIONES, S.A.                                 17.50%              5,358,762,500 pta
</TABLE>

                                      -8-
<PAGE>

<TABLE>
<S>                                                           <C>                   <C>
INFORMATICA DEL CORTE INGLES, S.A.                               12.02%              3,680,704,300 pta

OMEGA CAPITAL, S.L. AND FONSAGRADA S.L. (1)                       5.00%              1,531,075,000 pta

CAJA DUERO                                                        3.99%              1,221,797,850 pta

IBERCAJA                                                          2.50%                765,537,500 pta

CAJA SAN FERNANDO                                                 2.50%                765,537,500 pta

EL MONTE                                                          2.50%                765,537,500 pta

DIARIO DE BURGOS, S.A.                                            1.49%                456,260,350 pta

                                                  TOTAL:        100.00%             30,621,500,000 pta
</TABLE>

(1) in the terms described hereafter

Notwithstanding the foregoing, the WARRANTOR: FIRSTMARK COMUNICATIONS EUROPE,
implements its guarantee by means of the banking endorsement, a copy of which is
included as an appendix to this contract. This is delivered up in this act to
the AGENT ENTITY, that receives it in satisfaction of all the GUARANTOR
ENTITIES,. Their liability to the GUARANTOR ENTITIES is limited to the authority
and validity of said endorsement, but not to the solvency of the banking entity
that issues the same. Consequently, the GUARANTOR ENTITIES, in the event of
breach by GUARANTEED PARTY, shall only be able, in relation to the
aforementioned WARRANTOR, to undertake the performance of that endorsement
contributed by them, without this giving rise to any claim against their estate.

For its part, the WARRANTOR AZTLAN, implements its guarantee by means of the
constitution of a pledge guarantee, which is constituted along with this act, in
favour of the GUARANTOR ENTITIES which accept it, concerning the credit rights
inherent in the current account number 0211.0001.72.00840-73, opened in the name
of the AGENT ENTITY up to an amount of 5,358,762,500.- PESETAS.

Consequently, AZTLAN expressly authorises the AGENT ENTITY to hold the balance
of said account, a balance which AZTLAN declares itself to be the legitimate
title holder of, having free disposition over the same, stating that it is not
encumbered by any other guarantee, charge, retention or any other similar
limitation. Neither is there any litigation or claim of any kind in process over
it. The transaction proceeds on the understanding that until the complete
cancellation of the obligations under this guaranteed pledge, AZTLAN shall not
be able to have

                                      -9-
<PAGE>

at its disposal the funds from said account if the balance of the same is left
at a level below the amount that is pledged, nor demand its return. If during
the course of this pledge there is a breach on the part of the GUARANTEED PARTY,
the GUARANTOR PARTIES shall be entitled to substantiate the liability of AZTLAN
solely for the performance of said pledge, without in any circumstances being
able to address themselves to the rest of its estate.

The pledge constituted under this provision shall remain in force as such until
the obligations of the GUARANTEED PARTY are completely fulfilled, or said pledge
is replaced by a bank aval that covers the liabilities of AZTLAN to the
satisfaction of the AGENT ENTITY, in which case, said pledge being terminated.

In the event that said pledge is replaced by a bank aval, in the aforesaid
terms, the GUARANTOR ENTITIES, in the event of breach by the GUARANTEED PARTY,
shall only be entitled, as regards AZTLAN, to continue with the performance of
the bank aval supported by it, without under any circumstances being able to
address themselves against the estate.

 The GUARANTOR PARTY shall make their rights effective over the pledge fully or
partially constituted herein, and on one or more occasions applying its amount
to the payment of the liabilities of the GUARANTEED PARTY, guaranteed in this
provision. This shall be the case as soon as any breach occurs on the part of
the latter of its obligations relating to the guaranteed transactions, including
when any of the causes of disclosure of the surety bond established in this
contract concur.

 The GUARANTOR ENTITIES, in order to set the balance of the pledged debt to be
performed, shall verify it exclusively by means of a certificate issued by the
AGENT ENTITY and declared in an official public document that, making reference
to the accounting therein, shall state the net balance under which the pledge is
exercised.

As regards the FONSAGRADA, S.L. company; it appears for the purposes of being
constituted in the WARRANTY of the GUARANTEED PARTY, jointly with the OMEGA
CAPITAL, S.L. company, under the same terms and conditions as the latter. Notice
is taken of the fact that OMEGA CAPITAL, S.L. has been represented in this
contract by means of a verbal proxy, and as a result, its consent has not been
perfectly established. Therefore, the security bond made by the FONSAGRADA, S.L.
company and the pledge that is implemented under this shall be fully terminated
under law at the same time as this contract is purely and simply ratified, in
all its content, terms and conditions by the WARRANTOR OMEGA CAPITAL, S.L.,
without prejudice to the substantiating of the liability of the latter.

For the purposes of OMEGA CAPITAL, S.L. being able to proceed to said
ratification, it shall deliver up the authentic copy of this contract that
corresponds to it, within 96 hours from the signing of the same, to FONSAGRADA,
S.L. so that the parties can irrevocably instruct the public official who
appears.

The surety bond made by FONSAGRADA, S.L. is implemented by means of the
constitution of a pledged guarantee, in favour of the GUARANTOR ENTITIES which
accept it, on the inherent credit rights of the current account number
0211.0001.7600401-25, opened in its name in the AGENT ENTITY, up to the amount
of 1.531.075.000 PESETAS.

                                      -10-
<PAGE>

Thereby, FONSAGRADA, S.L. expressly authorises the AGENT ENTITY so that during
the course of this deposit, it shall hold the balance of said account, up to
said amount, a balance that FONSAGRADA, S.L. holds legitimate title to, having
free disposition over the same, and holds that it does not have any encumbrance
in the form of another guarantee,retention, charge or similar. Nor is their
litigation or claims of any class in process over it. The transaction proceeds
on the understanding that until the complete cancellation of the obligations
under this guaranteed pledge, FONSAGRADA, S.L. shall not be able to have at its
disposal the funds from said account if the balance of the same is left at a
level below the amount that is pledged, nor demand its return. If during the
course of this pledge there is a breach on the part of the GUARANTEED PARTY, the
GUARANTOR PARTIES shall be entitled to substantiate the liability of FONSAGRADA,
S.L. solely for the performance of said pledge, without in any circumstances
being able to address themselves to the rest of the estate of OMEGA CAPITAL,
S.L.

The pledge constituted under this provision, and the pledge which is thereby
implemented shall remain in force as such until the obligations of the
GUARANTEED PARTY are completely fulfilled, or is terminated in full with notice
by the ratification of this contract by OMEGA CAPITAL, S.L. in accordance with
the terms set out beforehand.

The GUARANTOR ENTITIES shall make their rights effective over the pledge fully
or partially constituted herein, and on one or more occasions applying its
amount to the payment of the liabilities of the GUARANTEED PARTY, guaranteed in
this provision. This shall be the case as soon as any breach occurs on the part
of the latter of its obligations relating to the guaranteed transactions,
including when any of the causes of disclosure of the surety bond established in
this contract concur.

The GUARANTOR ENTITIES, in order to set the balance of the pledged debt to be
performed, shall verify it exclusively by means of a certificate issued by the
AGENT ENTITY and declared in an official public document that, making reference
to the accounting therein, shall state the net balance under which the pledge is
exercised.

The GUARANTOR ENTITIES are entitled to hold the WARRANTORS, to these guarantees,
subject to certain percentage and quantitive limits, as previously established
in this clause and the several character of the obligations of the WARRANTORS
among themselves, although this shall be in a joint manner with the GUARANTEED
PARTY.

Given the joint nature of the obligations of the WARRANTORS, under no
circumstances shall it be possible to demand, from any of them, at any time, a
percentage of the outstanding amount, by virtue of each one of the ENDORSEMENTS
issued, that is greater than the percentages expressed beforehand that apply to
the same, without any claim arising by the WARRANTOR for the part of the debt
that corresponds to any other of them.

The WARRANTORS are bound to pay, within the previously mentioned limits, any
amount claimed by the GUARANTOR ENTITIES upon presentation of a simple written
notification, accompanied by the verification that the payment has been made to
the BENEFICIARY under an endorsement, made by the AGENT ENTITY, and
communicating the breach that has been made, without any excuse being admissible
as any as regards the payment of said amounts.

                                      -11-
<PAGE>

This shall be done in the maximum period of five working days from the receipt
of the notification, the interest rates applicable to the balance on the special
account being applicable to the amounts claimed during said period, in
accordance with what is agreed in the eighth clause . For the purposes of said
notification, the GUARANTOR ENTITIES do not have to verify the cause of the
breach of the terms of this contract by the GUARANTEED PARTY.

The rights of the GUARANTOR ENTITIES under this guarantee shall not be affected
in any way by any other obligation or guarantee on the part of the GUARANTOR
ENTITIES in favour of the GUARANTEED PARTY or the WARRANTORS, without for such
reasons giving rise to compensation from the GUARANTOR ENTITIES, who are
expressly and irrevocably empowered to previously perform other guarantees which
they may be the beneficiaries of.

Without prejudice to the foregoing, the AGENT ENTITY and the GUARANTOR ENTITIES
are expressly and irrevocably empowered by each one of the WARRANTORS to
compensate any of the amounts claimed under this guarantee against the amounts
that may exist in favour of the same, whether they be current, savings or any
other types of accounts, that have been opened with the GUARANTOR ENTITIES, or
any other sums or credits that the latter shall have to meet, that the
WARRANTORS will have established in any office, headquarters or branch office of
the GUARANTOR ENTITIES, and, as a result, make the payments, charges and
conversions that arise from said compensatory effects.

This guarantee shall remain in force and be of full effect while the
ENDORSEMENTS are in force and the repayment to the GUARANTOR ENTITIES of the
whole of the amounts that correspond to them in concept of the principal,
interests, commissions and other expenses under this contract remains due.

The cession by any of the GUARANTOR ENTITIES of their position in this contract
shall imply the subrogation of the transferee in the position of the transferor
in this guarantee, which the WARRANTORS. expressly assent to from hereon, always
provided that the cession does not detract from the validity of the endorsement
for the BENEFICIARY.

FIFTH.- PAYMENT OBLIGATIONS OF THE GUARANTEED PARTY AND DISCLOSURE OF SURETY
BOND.-

The GUARANTEED PARTY is bound to make the following payments:

      1. In terms of commissions, the amounts that accrue according to the
         thirteenth clause of this contract, and within the agreed time period.

      2. In terms of interest, the amounts that accrue, the debt on the special
         account, which are referred to in the seventh and eighth clauses.

      3. In terms of repayment of the principal, all those amounts that the
         GUARANTOR ENTITIES have made effective in performance of the
         ENDORSEMENTS granted by the same, in accordance with the conditions
         established in this contract, in favour of the BENEFICIARY, in the
         period of two working days counting from the requirement made for such
         purposes by the AGENT ENTITY.

                                      -12-
<PAGE>

Nevertheless, given the conditions under which the ENDORSEMENTS are made, the
GUARANTOR ENTITIES shall be entitled to demand that the GUARANTEED PARTY
disclose to them all or any of the ENDORSEMENTS made, provided that some of the
following circumstances concur:

      a) The breach of any of the obligations assumed by the GUARANTEED PARTY or
         its WARRANTORS in this contract.

      b) The termination, suspension, expiry, expropriation, voiding or
         resolution of the award of the individual C2 licence for the
         establishment and use of fixed public networks of access radio in the
         waveband of 3.4 to 3.6 Ghz, granted to the GUARANTEED PARTY according
         to the Order of Spanish Ministry of Public Works of the 8th of March,
         2000 (BOE - Spanish Official State Gazette number 60 of 10th of March)

      c) The falsification of any information or document provided by the
         GUARANTEED PARTY or its WARRANTORS that has been used as the basis for
         the concession of the ENDORSEMENTS.

      d) The request for the declaration of the suspension of payments, removal
         or waiting or bankruptcy of the GUARANTEED PARTY or any of the
         WARRANTORS and, in the event of the bankruptcy having been requested by
         a third party, when the Judge has issued a writ of bankruptcy
         declaration.

      e) Should any of the circumstances take place that are foreseen in section
         1843 of the Spanish Civil Code.

Should any of the aforementioned circumstances occur, the GUARANTEED PARTY shall
be bound to disclose the surety bond made to the GUARANTOR ENTITIES, within the
period of fifteen working days, counting from the notification of the due
requirement that for such purposes is practiced by the AGENT ENTITY.

In the case of GUARANTEED PARTY, at the request of the AGENT ENTITY as set out
in the previous paragraph, not disclosing the surety bond made to the GUARANTOR
ENTITIES , it shall make a cash deposit or the same in shares the covers the
amount of the whole of the uncancelled ENDORSEMENTS, It shall furthermore make a
pledge in a public document, in favour of the GUARANTOR ENTITIES and in
guarantee of the obligations deriving from the ENDORSEMENTS made, said deposit
and the credit right deriving under the same.

In the event that the GUARANTEED PARTY, as required under the agreement, does
not disclose the surety bond made to the GUARANTOR ENTITIES or does not make the
deposit referred to in the foregoing paragraph, the WARRANTORS shall be
immediately bound to make a deposit on the same conditions that will cover the
amount of the ENDORSEMENTS, . It shall also make a ledge in a public document,
in favour of the GUARANTOR ENTITIES in guarantee of the obligations deriving
from the ENDORSEMENTS, the amount of said deposit and the subsequent credit
right arising under the same.

SIXTH.- PAYMENT BY THE GUARANTOR ENTITIES.-

The GUARANTEED PARTY and the WARRANTORS expressly and irrevocably authorise the
GUARANTOR ENTITIES to make effective the amounts that, in performance of the
ENDORSEMENTS made, and in accordance with what is agreed under the contract, for
which a claim may arise against them by the BENEFICIARY. This shall be up to the
total amount of each one of the ENDORSEMENTS, on the first notification that
they receive, without the need for prior agreement from the GUARANTEED PARTY nor
the WARRANTORS, nor from the requirement of the same, and without the need to
consider the origin or otherwise of the claim.

                                      -13-
<PAGE>

In the case in which the GUARANTOR ENTITIES shall have to meet the surety bonds
made, by reason of the requirement made by the BENEFICIARY, the AGENT ENTITY
shall inform the rest of the GUARANTOR ENTITIES, as soon as it may be required,
of the total amount claimed and the part that corresponds to each GUARANTOR
ENTITY in accordance with their participation in the ENDORSEMENTS.

Each GUARANTOR ENTITY shall place at the disposal of the AGENT ENTITY, before
10:00 a.m. on the date of deadline of the payment, the amount that corresponds
to its participation in the ENDORSEMENTS to be assumed, by means of payment
under the OMF system (Order of Movement of Funds), Bank of Spain Code 0211.

If the AGENT ENTITY, in the belief that the GUARANTOR ENTITIES have made the
delivery of the proportional part that they are bound to pay to the BENEFICIARY
of the full amount that is claimed, and it transpires that any GUARANTOR ENTITY
has not made its contribution, it shall be entitled to demand said amount from
the latter on the date of the payment to the BENEFICIARY.

From the same time at which the GUARANTOR ENTITIES, directly or by means of the
AGENT ENTITY, makes the payment of any of the surety bonds, they shall be
entitled to demand from the GUARANTEED PARTY and the latter shall be bound to
pay them, the total amount due including the interest and expenses that, as
appropriate, may have accrued, and this shall be the case even in the case of
such payment has been made without the knowledge or the opposition of the same.

SEVENTH- SPECIAL ACCOUNT.-

For the purposes of this contract, at the time of its formalization, the AGENT
ENTITY shall open a special register account with the GUARANTEED PARTY in which
such arrangements as derive from the granting of the ENDORSEMENTS shall be
noted. In the "Owing" part of said account , the amounts that the GUARANTEED
PARTY has to meet for expenses, commissions, interests and, as appropriate,
performance, shall appear, along with the nominal amount made for the
ENDORSEMENTS. In the "Done" part of said account will be all those amounts that
the GUARANTEED PARTY delivers to the AGENT ENTITY in payment of the previous
items.

At any time, the amount in said special register account shall indicate the
exact sum owed by the GUARANTEED PARTY to the GUARANTOR ENTITIES by reason of
the granting of the ENDORSEMENTS.

In addition to the special account that the AGENT ENTITY shall hold, each one of
the GUARANTOR ENTITIES shall open and maintain in its books a special register
account in the name of the GUARANTEED PARTY in which the same payments and
charges as made and indicated in the previous paragraph shall be entered, to the
account that the AGENT ENTITY holds, but referring exclusively to the
participation of each GUARANTOR ENTITY in the ENDORSEMENTS.

For the purposes of the terms of section 1435 of the Spanish Civil Procedure
Act, or any guidelines that replaces it, the liquidation to determine the debt
that can be legally reclaimed will be processed by the AGENT ENTITY, or by the
GUARANTOR ENTITY that it is dealing with, by way of the appropriate
certification that verifies that GUARANTEED PARTY in the AGENT ENTITY are
present, on the day of closure, in the special register account, governed in
this clause, of in that of GUARANTOR ENTITY that feature herein.. For these
purposes, it will be sufficient to initiate legal proceedings to present this
policy and to have the provision of an official public document that the
certificate incorporates, issued by the AGENT ENTITY or the GUARANTOR ENTITY
that feature herein, showing the amount that is the responsibility of the
GUARANTEED PARTY, verifying that the settlement of the debt has been made in the
agreed form by the parties to this contract and that said amount coincides with
that which appears in the account or accounts of the GUARANTEED PARTY. The
expenses that originate from the use of the official public document shall be
the responsibility of the GUARANTEED PARTY.

The amount in the account that is thus set shall be duly notified to the
GUARANTEED PARTY at least five days before, the undertaking of this action.

EIGHTH.- REGULARIZATION OF THE AMOUNT OUTSTANDING AND ACCRUAL OF INTEREST. -

                                      -14-
<PAGE>

1.- The amount outstanding that features in the special account described in the
previous clause, shall be immediately regularized by the GUARANTEED PARTY, the
GUARANTOR ENTITIES thus being able to make a claim on it at any time.

2.- Interest rate.

The amount outstanding that features in the aforementioned account shall accrue
interest to the benefit of the GUARANTOR ENTITIES, until they are completely
satisfied, at an annual nominal rate that shall be variable for each one of the
successive periods of three months that follow the date on which the special
register account first presents an amount due. The rate at which said debt shall
accrue interest shall be determined by the addition of the following factors:

      a) A variable sum which shall be the EURIBOR rate reflected in the
         "EURIBOR" page of the "REUTERS SCREEN" or any other that may replace it
         in the future, at 11:00 h. on the morning of the working day
         immediately prior to the date on which the a period of interest
         commences, for deposits in pesetas of an amount similar to that of the
         outstanding balance and for a period of interest of three months or the
         closest possible to three months. In the case of the EURIBOR rate not
         being obtainable at said time, then the interest rate that shall be
         applied as a point of reference shall be the EURIBOR that has been set
         at the moment which is immediately prior to that one.

      b) Another annual fixed sum of TWO POINT FIVE PER CENT (2.50 %).

      The interest rate thus set shall be increased in addition, in light of the
following:

      1. The ordinary costs of obtaining such funds from the Interbanking
         Market, including the intermediary brokerage fees.

      2. Any taxes, rates, state charges or otherwise that shall be currently
         levied or may be levied in the future, relating to the obtaining of
         funds in the Interbanking Market, or the brokerage fees of
         intermediaries. The result that is attained shall be rounded up, should
         that be necessary, to the nearest 1/20 of a percentage point.

3.- Substitutive interest rate.

a. When it is not possible to determine the EURIBOR interest rate in accordance
with the previous paragraph, then it shall be calculated in accordance with the
terms that are set out in this section using the rate set by the AGENT ENTITY,
on the working day immediately prior to the commencement of a period of interest
for deposits made in pesetas of a sum similar to the outstanding balance and for
a three month interest period or the closest period to three months, as set by
the following financial and credit entities (the "Reference Entities"):

Citibank Espana, S.A.

Banco de Bilbao-Vizcaya, S.A.

BNP Espana, S.A.

b. The AGENT ENTITY shall find the arithmetical average of the rates quoted by
the Reference Entities that are applicable to an interest period indicated in
the previous subsection, adding an annual fixed sum of TWO POINT FIVE PER CENT
(2.50 %), along

                                      -15-
<PAGE>

with the increases indicated at the end of section 2 - of this clause, rounded
up to achieve a result, if necessary, to a multiple which is closest to 1/20 of
a percentage point.

If for any circumstance one or two or the Entities of Reference not be able to
quote their interest rates, then the substitutive interest rate shall be set
from the arithmetical average of the interest rates quoted by the other Entities
of Reference, or as appropriate, the Entity of Reference under consideration.

c. In the event of merger of any Entity of Reference, then the Entity that
results from such merger shall be automatically understood to take on the
character of an Entity of Reference. In the case of a spin-off of any of the
Entities of Reference, the AGENT ENTITY shall indicate which of the resulting
Entities shall be considered to act as the Entity of Reference.

d. Apart from the cases of merger or spin-off, the replacement of an Entity of
Reference shall be taken into account by means of a new nomination agreed by the
AGENT ENTITY and with the approval of the GUARANTEED PARTY. The latter shall
only refuse this by providing a justified cause. The approval of the latter of a
new Entity of Reference shall be tacitly understood to be granted should there
not be any reasoned opposition within five working days counting from the
notification of the nomination that is made by the AGENT ENTITY.

4.- Communication of the interest rate.

The interest rate that, set in accordance with the terms that are set out in the
previous paragraphs, comes from the application of each one of the periods of
interest rate This will be communicated by AGENT ENTITY to the GUARANTEED PARTY
and the GUARANTOR ENTITIES:

      a) That corresponding to the first period of interest on the working day
         immediately following the date of its commencement.

      b) That corresponding to each one of the successive periods of interest
         that follow the first before 14:00 hours on the working day immediately
         prior to the commencement of the corresponding period of interest.

5.- Accrual and liquidation of interest.

The interests shall accrue daily, based on a year of 360 days, on amounts owed
in the aforementioned special account and shall be liquidated by the due
quarterly period.

The interest shall be liquidated by applying the following formula: Capital
multiplied by revenue and by time, divided by thirty six thousand. In this
formula, it shall be considered that the nominal interest is the amount of gross
interest, the capital, the balance of capital; the revenue, the nominal annual
rate and the time; the number of days, expressed in calendar days.

Regardless of the foregoing, at any time the interest accrued can be liquidated
if the GUARANTEED PARTY regularizes the amount in the account, or the AGENT
ENTITY does so, or, as appropriate, and in agreement with the terms of this
contract, the GUARANTOR ENTITIES shall so decide to pursue such a course of
action.

                                      -16-
<PAGE>

The GUARANTOR ENTITIES shall receive, in terms of interests, the effective net
yield that results from applying the annual nominal interest rate in the form of
liquidation of payments that is indicated. In order to facilitate the
liquidations that are made, a document will be drawn up in which the precedents
necessary for the verification of the liquidation made will be stated along with
the equivalent in terms of the sum of interests, commissions and recoverable
expenses.

Even in the case in which the GUARANTEED PARTY fully repays all the amounts that
are due in the special account and the interest - which will accrue up to the
date on which the payment is made- said account cannot be cancelled while the
surety described in the third clause has not been fully and definitively
cancelled, given the specific purpose for which this was opened.

NINTH.-   PAYMENT THROUGH STANDING BANK ORDER.-

Any payment that the GUARANTEED PARTY is bound to make as a result of this
contract shall be understood to be received by AGENT ENTITY when the amount is
really at the disposal of the latter according to Spanish banking practices for
the calculation of the valuation of the instruments of payment received.

The GUARANTEED PARTY should make the payments without the need of prior
notification, by means of a debt held by the AGENT ENTITY in the account number
0211.0001.76.00401.263-32 that the GUARANTEED PARTY keeps open in the Main
Office of EBN BANCO located in Madrid, in calle de Almagro, 46, which it
irrevocably consents to, being bound to maintain in the same a balance
sufficient to deal with the payments that it is bound to meet.

If any GUARANTOR ENTITY receives, because of this contract, a payment that is
direct or in compensation, and is proportionally great than the payments
received by one or other GUARANTOR ENTITIES, then it shall be obliged to deliver
up to the AGENT ENTITY the surplus of funds received so that this can be
redistributed, on the same date as its reception, among the other GUARANTOR
ENTITIES in such a manner that at any moment the amounts that each GUARANTOR
ENTITY has received are proportional to its participation in the ENDORSEMENTS.
This shall apply except in the case of the performance of the demand for
disclosure of the surety bond at the request of any of the GUARANTOR ENTITIES,
as set out in section 2 - of the fifth clause.

Each payment made by the GUARANTEED PARTY to the AGENT ENTITY, in accordance
with the contract, shall be applied to the following items in the order that is
set out below:

      1) Taxes owed.

      2) Costs and expenses attributable to the GUARANTEED PARTY.

      3) Commissions owed.

      4) Interest accrued by the balance on the special account.

      5) Reduction of the balance of the principal in the special account.

In the same way, an attribution shall be made in the event of a payment being
made, regardless of it having been agreed in this contract, and due to
extraordinary circumstances overtaking any of the GUARANTOR ENTITIES, or as
appropriate any of the WARRANTORS, to any of the GUARANTOR ENTITIES, without
prejudice to the pro-rata distribution that arises in accordance with the
agreement in the foregoing paragraph.

All the amounts that the GUARANTEED PARTY shall meet by reason of this contract,
and under whatever concept, shall be met without any deduction or retention, the
taxes that may be levied on such payments in accordance with the legislation in
force falling to the account of the same. This shall exclude the Spanish
Companies Tax that is levied on the results obtained by the GUARANTOR ENTITIES,
in such a manner that the latter shall receive an amount equal to that which
would have corresponded to it without having made said deductions or retentions.

                                      -17-
<PAGE>

TENTH.- COMPENSATION.-

The GUARANTEED PARTY expressly and irrevocably empowers the GUARANTOR ENTITIES
to hold the balance of any current account, savings book, partial tax payment,
certificate of deposit or any other kind of deposit in cash or shares that
figures in any of its offices in the name of the same. It may even sell shares
or goods that have been deposited, and apply the proceeds to the payment of :

- The amounts that, up to the limit of the ENDORSEMENTS, the GUARANTOR ENTITIES
would have had to have in order to satisfy the beneficiary or the Spanish
General Deposits Bank as a result of the sureties made.

- The commissions agreed and owed under this contract.

- Each and every one of the the expenses that, being the responsibility of the
GUARANTEED PARTY, have been met by the GUARANTOR ENTITIES and having their
origin in the endorsement made or in this document.

- The debit balance shown in the special account.

ELEVENTH.- COSTS AND TAXES.-

Regardless of the payment obligations contracted by the GUARANTEED PARTY, the
latter assumes the obligation to pay any other commissions, expenses, taxes,
charges, levies, fees and other items, currently or in the future that originate
from or accrue as a result of the formalization, signature and/or the
performance of this contract or of the granting of the ENDORSEMENTS, and the
following, being of a merely declarative nature:

      a) The fees, brokerage charges and charges for official public documents
         that appear at the formalization, modification, performance and/or
         termination of this contract or its guarantees, notifications,
         requirements or processes as may be necessary for its compliance,
         including those which take place so as to document in a public
         instrument the pledges that are referred to in the fifth clause.

      b) The taxes, rates, charges, levies whether or not they are state
         imposed, excluding in all events the Spanish Companies Tax of the
         GUARANTOR ENTITIES, which are levied now or in the future, while this
         contract remains in force, or due to its modification, performance
         and/or termination, or on the commission owed in accordance with this
         contract.

      c) The legal costs and expenses, including those fees of Lawyers and
         Solicitors that may accrue as a result of the performance of this
         contract or its guarantees.

      d) And, in general, any other expenses that are originated by the
         GUARANTOR ENTITIES and/or the AGENT ENTITY as a result of this contract
         and that, having been approved by the guaranteed party, can be
         justified in the form of a document.

Any of the previous items that the GUARANTEED PARTY has to pay shall be notified
to it by the AGENT ENTITY and will be paid by the former in the period of three
working days from the receipt of the notification.

TWELFTH.- PERSONAL OBLIGATIONS.-

The GUARANTEED PARTY is bound to the GUARANTOR ENTITIES, while any of the
obligations that are contracted under this contract remain in force, to:

      a) Forward the annual audited accounts completed by an independent
         auditing company that is recognised as being prestigious, within six
         months following the closure of its financial year.

                                      -18-
<PAGE>

         The obligation to deliver the annual accounts shall be understood to be
         assumed for the successive financial years, as long as there are any of
         the obligations deriving from the ENDORSEMENTS and this contract still
         in existence.

      b) Notify it immediately of any circumstance that, in accordance with the
         terms of the sixth clause herein, may be the cause of a demand for
         disclosure of the surety bond.

      c) Not transfer or in any other form dispose of a significant part of the
         integral fixed assets that it holds without receiving a benefit from
         the market or in goods of an equal nature in return.

THIRTEENTH.- COMMISSIONS.-

For the use of the ENDORSEMENTS referred to in the third clause, the GUARANTOR
ENTITIES shall receive the following commission:

a)  An opening commission of ZERO POINT TWO FIVE PER CENT (0.25%) of the limit
    set under the third Clause, of this document, which shall accrue on only one
    occasion and shall be liquidated and be paid upon the commencement of the
    transaction, in the time period that runs from the date of the signing of
    this contract to the 30th of April 2000.

b)  A quarterly risk commission of ZERO POINT ONE TWO FIVE PER CENT (0.125%),
    that shall accrue day by day, commencing on the day of the issuing of the
    ENDORSEMENTS, on the total amount that is secured. The settlement and
    payment of this commission shall be made prior to the 30th of April 2000 and
    for the following quarters on the first working day of each quarter,
    calculated from date to date from the signature of this contract, being
    applicable to the full risk that GUARANTOR ENTITIES have taken on at any
    time, and for each one of the ENDORSEMENTS made. In any event, it shall be
    the responsibility of the GUARANTEED PARTY to duly demonstrate that the risk
    to the GUARANTOR ENTITIES has lessened and to what extent this is so.

c)  A management Commission of ZERO POINT ONE FIVE PER CENT (0.15%) of the limit
    established in the third Clause of this document, that accrues once only and
    will be liquidated and paid at the commencement of the transaction, in the
    time period that runs from the signing of this contract up to the 30th of
    April 2000.

d)  An Agency Commission that the GUARANTEED PARTY shall pay to the AGENT ENTITY
    and, in its favour, of ONE MILLIN PESETAS (1.000.000.-ptas.) for each year,
    or part thereof, while the ENDORSEMENTS are in force, This commission shall
    be liquidated and paid at the commencement of the operation, in the term
    that runs from the date of signing of this contract and the 30th of April
    2000 and on each one of the subsequent anniversaries, while the ENDORSEMENTS
    are in force.

  In the event of the full or partial cancellation or termination of the
  ENDORSEMENTS taking place, on the date in which said cancellation or
  termination occurs, a liquidation of the risk commission corresponding to the
  remaining days up to the end of the period in force, with respect to the
  ENDORSEMENTS cancelled or terminated, will be effected. The GUARANTOR ENTITIES
  will, as appropriate, repay the GUARANTEED PARTY the surplus amounts that are
  settled beforehand.

FOURTEENTH.- ASSIGNMENTS.-

1.- The GUARANTEED PARTY shall not be entitled to assign, transfer, replace or
subrogate in any way the rights and obligations contracted herein.

2.- Any GUARANTOR ENTITY shall be able, at any time, and while its participation
in the ENDORSEMENTS made in accordance with this contract remains in force, to
assign, transfer and negotiate, wholly or partially, its participation in the
same and in this contract, provided that the following conditions are met:

                                      -19-
<PAGE>

      a) That the assignment does not entail an increase in costs for the
         GUARANTEED PARTY.

      b) That the assignment is made to a Bank or Building Society.

      c) That the assignor has communicated in writing to the AGENT ENTITY its
         intention to assign, wholly or partially, its participation with at
         least fifteen working days advance notice from the effective date of
         the assignment.

      d) That if the assignment is formalized before the endorsement has been
         undertaken by the beneficiary, then the prior authorization of the
         latter will be obtained.

      e) That the assignment has been previously authorised by the AGENT ENTITY,
         unless the same is effective after the payment of the corresponding
         amount that the assignor would make to that party, in the event of
         performance, of up to the total sum of the ENDORSEMENTS.

The assignment shall be communicated to the AGENT ENTITY, which in turn shall
communicate this to the GUARANTEED PARTY and to the WARRANTORS.

FIFTEENTH- PERFORMANCE OF GUARANTEES; REGIMEN AND OPERATION OF THE SYNDICATE.

1.- BREACH OF THE OBLIGATIONS OF PAYMENT BY THE GUARANTEED PARTY.

In the event of breach on the part of the GUARANTEED PARTY of any of the payment
obligations deriving from the granting of the ENDORSEMENTS, the GUARANTOR
ENTITIES shall be entitled to continue with the performance of the personal
payment guarantee of the WARRANTORS stated in the fourth clause of this
contract, following the agreement of the majority of the GUARANTOR ENTITIES,
according to the agreement set out under section 4. - of this clause. That
decision which is adopted, in the event of being favourable to the performance
of the guarantee, shall be binding upon all the GUARANTOR ENTITIES, including
those who are not in agreement, and shall be carried out by the AGENT ENTITY on
behalf of and representing all of them. If the decision of the majority of the
GUARANTOR ENTITIES has not been favourable to the performance of the guarantee,
then any GUARANTOR ENTITY shall be entitled to partially perform said guarantee,
due to its participation in the obligation of the breached payment.

2.- OBLIGATIONS OF DISCLOSURE OF THE SURETY BOND AND CONSTITUTION OF THE
DEPOSIT.

The decision concerning the demand for disclosure of the surety bond by the
GUARANTOR ENTITIES, and the contingent exiguity of the constitution and pledging
of the deposit that is referred to in the fifth clause , by virtue of the causes
indicated therein, shall require the prior agreement of the majority of the
GUARANTOR ENTITIES adopted in accordance with the procedure set forth in section
4 of this clause. The decision that is adopted shall be binding upon all of the
GUARANTOR ENTITIES, including those which are not in agreement.

As an exception to the foregoing, if the reason for which the disclosure of the
surety bond could be demanded is that which is indicated in subsection d) of the
fifth clause, and the decision of the majority of the GUARANTOR ENTITIES has
been that of not demanding the disclosure of the surety bond, then any GUARANTOR
ENTITY shall be individually entitled to demand it on the basis of its
participation in the ENDORSEMENTS, thereby meeting the requirement that
corresponds to it.

The same regime shall be followed for the performance of the guarantee of
constitution of the deposit that is pledged on the part of the WARRANTORS. For
this reason, the AGENT ENTITY shall comply with that which has been agreed
between the majority of the GUARANTOR ENTITIES. The latter, in this action,
shall expressly empower the AGENT ENTITY in a manner that is as wide as may be
necessary in law to undertake such pertinent action in this respect, on behalf
of and in representation of all of them.

                                      -20-
<PAGE>

3.- Performance of the pledge of the deposit.

In the event of breach by the GUARANTEED PARTY of any of its payment obligations
deriving from the granting of the ENDORSEMENTS, the GUARANTOR ENTITIES shall be
entitled to the performance of the pledge of the deposit constituted by the
GUARANTEED PARTY or, as appropriate, by the WARRANTORS, following agreement of
the majority of the GUARANTOR ENTITIES in accordance with the procedure laid
down in section 4 of this clause. The decision adopted, whether it be favourable
or not to the performance of the pledge, shall be binding upon all of the
GUARANTOR ENTITIES, including those who are not in agreement.

The AGENT ENTITY shall comply with the agreement of the majority of the
GUARANTOR ENTITIES. In this action, the latter shall expressly empower the AGENT
ENTITY as widely as may be necessary in law, so that it may carry out all such
pertinent acts in this respect, on behalf of and representing all of them.

4.- DECISION MAKING PROCEDURE BY THE GUARANTOR ENTITIES.

a) It shall be understood that the "majority" of the GUARANTOR ENTITIES shall
consist of the whole of the GUARANTOR ENTITIES whose participation in the
ENDORSEMENTS represents more than 50% of the total amount thereof at all times.

b) In performing all of the powers conferred to the AGENT ENTITY in accordance
with the foregoing sections and for purely internal purposes of the syndicate,
the AGENT ENTITY, when acting as the representative of the GUARANTOR ENTITIES,
shall attend to the instructions of said GUARANTOR ENTITIES.

c) In order to obtain the instructions of the GUARANTOR ENTITIES that take part
in this syndicate, for the adoption of decisions in accordance with the
foregoing sections, the AGENT ENTITY shall send a telex, fax or similar
communication to each one of the GUARANTOR ENTITIES, to the place of business
indicated herein. Each one of them, as appropriate, shall be bound to answer by
the same procedure within the fifth working day following such act. All the
telexes or other communications that are received by the AGENT ENTITY shall be
valid for the purposes of drawing up the agreement, without any pre-requisite
having to be met. It will be sufficient that they have seemed to have been sent
from a terminal installed in the office of the issuing entity. For such
purposes, the name of the physical person who features as the apparent signatory
of the message and the powers of representation that are held shall not be of
importance.

For these purposes, it shall be understood that the GUARANTOR ENTITY that does
not reply to the AGENT ENTITY in the manner of the abovementioned procedure,
shall be assumed to have tacitly approved of and vote in favour of the proposal
of the AGENT ENTITY.

d) Once the period of time indicated has passed, the AGENT ENTITY shall verify,
based on the replies it has received, the decision adopted by the "majority" of
the GUARANTOR ENTITIES under the terms of what has been established in the
foregoing sections.

e) Without prejudice to what has been set out in the foregoing paragraph, nor to
the full effectiveness of the agreements reached in accordance with the method
described, the GUARANTOR ENTITIES undertake to confirm the instructions given to
the AGENT ENTITY with all possible speed by means of the execution of such
public or private documents as the AGENT ENTITY may require of them.

                                      -21-
<PAGE>

f) The AGENT ENTITY shall convey to the GUARANTOR ENTITIES all the information
that it receives from the GUARANTEED PARTY relating to the contract. Apart from
the previous obligation, the AGENT ENTITY shall only be bound to communicate to
the GUARANTOR ENTITIES the existence of a circumstance of a demand for
disclosure of the surety bond, when the existence of such a circumstance is made
aware to the AGENT ENTITY in a due or reliable manner. The AGENT ENTITY shall
not be bound to indicate any option of its own nor to pass judgement on the
information conveyed.

The GUARANTOR ENTITIES undertake to communicate to the AGENT ENTITY, as soon as
they become aware of any circumstance or fact that may entail a cause of demand
of disclosure of the surety bond made in accordance with the terms of this
contract.

SIXTEENTH.- COMMUNICATIONS BETWEEN THE PARTIES.-

1.- All the requests, notifications, warnings and communications relating to
this contract that do not require a special formality shall be understood to
have been duly undertaken when they are done by fax or telegram addressed to the
place of business indicated in the following paragraph. This shall be without
prejudice to them being subsequently confirmed in a letter signed by the
empowered person., as regards the communications that are made or the
acknowledgement in the same form as they are received. The receipt of the
transmission of the telegram or of the original fax in which this is made shall
be deemed to be due proof of the communication.

2.- The communications that are made in accordance with this contract shall be
addressed to the places of business of the parties that feature at the
commencement of this contract and the persons signing the same.

3.- Any modification of the places of business or numbers of telephone, fax or
telex shall be communicated in writing to the AGENT ENTITY.

SEVENTEENTH.- REGIMEN OF THE CONTRACT AND ACCESS TO LEGAL ACTION.-

This contract shall have legal force in accordance with the terms of number 6(0)
of section 1429 of the Spanish Civil Procedure Act, or guideline that replaces
it, and other concordant legislation.

The GUARANTEED PARTY and WARRANTORS consent that in this contract, and as
appropriate, in the public document that incorporates it, as many copies as may
be requested by the AGENT ENTITY may be issued (first copies in the case of a
public instrument), all of these having the value of legal title effective for
the performance thereunder in accordance with section 1429 of the Spanish Civil
Procedure Act, or guideline that replaces it.

EIGHTEENTH.- A.E.R.-

For informative purposes, it is made known that the Annual Equivalent Rate
(A.E.R.) applicable to the special account will be calculated in accordance with
formula set forth in number 1 of appendix V of the 8/1990 Circular of the 7th of
September by the Bank of Spain.

NINETEENTH.- APPLICABLE LEGISLATION AND WAIVER OF JURISDICTION.-

This contract shall be interpreted and complied with on its own terms and
governed by Spanish legislation.

Madrid is designated as the place of compliance with the obligations deriving
under this contract, for the purposes laid down in section 1439 of the Spanish
Civil Procedure Act, or guideline that replaces it.

                                      -22-
<PAGE>

In accordance with what has been set out in the foregoing paragraph, the
GUARANTEED PARTY and the GUARANTOR ENTITIES, expressly waive any other
jurisdiction that may correspond to them and subject themselves to the
jurisdiction of the Courts and Tribunals of the city of Madrid, in order to
resolve any disagreement that may derive from this contract or the granting of
ENDORSEMENTS.

TWENTIETH.- INTRODUCTION OF THE SINGLE CURRENCY.-

1. Given that the contractual currency of this transaction is the currency of a
State that has been integrated into the European Monetary Union, the parties
declare their knowledge relating to the terms set out under section 3 of the
(E.C.) Regulation n(0) 1103/97, of the 17th of June, concerning certain
provisions relating to the introduction of the euro. Said introduction is not
the cause of termination nor re-negotiation of the contracts, and thereby no
modification for any such reason in the agreed conditions shall be experienced.

2. Without prejudice to the foregoing, the introduction of the single currency
has been the object of legal regulation, and a series of consequences applicable
to this contract have been derived from the same.

In particular, and not being of an exhaustive nature, it is stated for
informative purposes that with regard to the introduction of the single
currency:

A) CONVERSION: During the transitory period, being understood to be that defined
in the (C.E.) Regulation n(0) 974/98 concerning the Introduction of the EURO,
that charges and payments shall be indistinctly made in pesetas and euros. The
currency shall be recorded in the credit account, applying the fixed and
irrevocable conversion rate between the EURO and the peseta set by the Council
of the European Union, in accordance with the terms of article 109.4 of the
Constitutive Treaty of the European Union and section 4 of the C.E. n(0) 1103/97
of the Council of the European Union, concerning certain provisions relating to
the introduction of the EURO, being rounded up in accordance with the terms of
section 5 of the C.E.Regulation 1103/97 of the 17th of June, if in the period in
which the euro does not exist in a physical manner, the currency of the amounts
that will be paid in cash will be the peseta.

B) PAYMENTS: During the transitory period, there shall be free range to make
payments both in euros and pesetas.

C) COMPENSATION: In accordance with the terms of section 8.6 of the C.E.
Regulation 974/98 concerning the Introduction of the EURO, in the event of this
compensation being appropriate and there being a difference between the debit
and credit balances with one being denominated in euros and the other in pesetas
during the transitory period, payment shall be effected by applying the fixed
and irrevocable conversion rate alluded to in the section a) above. The amount
shall be rounded up in accordance with the terms of section 5 of the C.E.
Regulation 1103/97 of the 17th of June.

D) REDENOMINATION: In the event of the length of this contract in force being
longer than the end of the transitory period, then at the time at which the
latter comes to an end, it is established under C.E.Regulation 974/98 concerning
the introduction of the EURO, under section 14, that the amounts expressed in
pesetas in the contract for whatever item shall be replaced automatically by the
equivalent amount in the single currency. These shall be

                                      -23-
<PAGE>

calculated on the fixed and irrevocable conversion rate between the EURO and the
peseta as set by the Council of the European Union and alluded to in paragraph
a) above, being rounded up in accordance with the terms of section 5 of the C.E.
Regulation 103/97 of the 17th of June.

The parties appearing in this contract declare their agreement and approval of
the content of the same as it has been drafted, they execute and sign it with my
assistance in [....] equally original and for the delivery of the same, one copy
remaining in my files.

And I the Agent of the Commerce Collegiate, SWEAR to the identity, capacity
and legitimacy of the signatures of the contracting parties and, to the
execution of this contract, issued in [.....] pages.

                              THE GUARANTEED PARTY

      FIRSTMARK COMUNICATIONS SPAIN, S.L. (PRIVATE LIMITED COMPANY) (P.P.)

                     D. Jose Fernandez Lizaran (DNI482549-D)

                                      -24-
<PAGE>

<TABLE>
                                            THE GUARANTOR ENTITIES
<S>                                                   <C>
 CAJA DE AHORROS Y MONTE DE PIEDAD DE BALEARES, (SA      CAJA DE AHORROS DEL MEDITERRANEO (CAM) (P.P.)
                   NOSTRA) (P.P.)

  D. Miguel Francisco Oliver Roca (DNI 41.388.111)       D. Juan Bautista Legorburo Escobar (DNI 51.383.908-E)

    MONTE DE PIEDAD Y CAJA DE AHORROS DE HUELVA Y        CAJA DE AHORROS Y MONTE DE PIEDAD DE ZARAGOZA
              SEVILLA (EL MONTE) (P.P.)                         ARAGON Y RIOJA (IBERCAJA) (P.P.)

  D. Jose Antonio Martin Navarro(DNI 28.504.470-H)

   D. Manuel Trujillo Comesana (DNI 28.395.694-D)           D. Manuel Galindo Oliva (DNI51.871.164)

     CAJA DE AHORROS DE SALAMANCA Y SORIA (CAJA        CAJA DE AHORROS PROVINCIAL SAN FERNANDO DE SEVILLA
                    DUERO)(P.P.)                               Y JEREZ (CAJA SAN FERNANDO) (P.P.)

 Dna. Anunciacion Rodriguez Sanz (DNI 11.703.138-W)       D. Enrique Garcia Ledesma (DNI 6.894.303-F)
    D. Angel Luis Blasco Vinue (DNI.18.402.453)

 SOCIEDAD ESPANOLA DE BANCA DE NEGOCIOS, S.A. (P.P.)     MONTES DE PIEDAD. Y CAJA DE AHORROS DE RONDA,
                                                        CADIZ, ALMERIA, MALAGA Y ANTEQUERA (UNICAJA)

1.         D. TEOFILO JIMENEZ FUENTES (6.535.916-J)
                                                          Mariano J. Dorado Siles 25.576.667-H

           D. Joaquin Asiain Sastre (51.955.828-R
                                                          Diego Pilares Naranjo 25.546.960-D

                                                THE WARRANTORS

           FIRSTMARK COMUNICATIONS EUROPE               INMOBILIARIA AZTLAN SOCIEDAD ANINIMA DE CAPITAL
                                                                     VARIABLE (P.P.)
                        (MV.)

                                                            D. Eduardo Diez-Hochleitner Rodriguez (DNI 50.412.632-J)

    D. Michel John Taylor (Pasap. R.U. 019211701)
</TABLE>

                                      -25-
<PAGE>

<TABLE>
<S>                                                   <C>
       PROMOTORA DE INFORMACIONES, S.A. (P.P.)              INFORMATICA EL CORTE INGLES, S.A. (P.P.)

     D. Eduardo Diez-Hochleitner Rodriguez (DNI         D. Florencio Lasaga Munarriz (DNI 15.820.025-G)
                    50.412.632-J)

             OMEGA CAPITAL, S.L. (M.V.)                    CAJA DE AHORROS DE SALAMANCA Y SORIA (CAJA
                                                                        DUERO)(P.P.)

     D. Mario Fernandez-Pena Garcia(DNI105.525)

CAJA DE AHORROS Y MONTE DE PIEDAD DE ZARAGOZA ARAGON   CAJA DE AHORROS PROVINCIAL SAN FERNANDO DE SEVILLA
              Y RIOJA (IBERCAJA) (P.P.)                        Y JEREZ (CAJA SAN FERNANDO) (P.P.)

      D. Manuel Galindo Oliva (DNI 51.871-164)             D. Enrique Garcia Ledesma (DNI6.894.303-F)

    MONTE DE PIEDAD Y CAJA DE AHORROS DE HUELVA Y                DIARIO DE BURGOS, S.A. (P.P.)
              SEVILLA (EL MONTE) (P.P.)

  D. Jose Antonio Martin Navarro(DNI 28.504.470-H)       D. Gregorio Mendez Ordonez (DNI 13.144.084-K)
   D. Maunel Trujillo Comesana (DNI 28.395.694-D)

                                                                    FONSAGRADA, S.L. (P.P.)

                                                         D. Jose Leoncio Areal Lopez (DNI 34524649-Q)
</TABLE>

                                      -26-<PAGE>

                                                                 Exhibit 10.10

Translation from the German Language

                                    CONTRACT
                       ON THE USAGE OF OPTICAL WAVEGUIDES
                          AND TECHNICAL SYSTEM PREMISES*
                                 (LWL Contract)

                                     between

                       CARRIERS' CARRIER GESELLSCHAFT MBH
                   Karlsruher Strasse 2 b, 30519 HannOVER
                           hereinafter known as "CCG"

                                       and

                              GASLINE GMBH & CO. KG
                                 Huttropstr. 60,
                                  D-45138 Essen
                         hereinafter known as "GasLINE"

             both hereinafter jointly known as "Contractual Parties"

Seite 1 von 23

-------------------
* Portions of this agreement are confidential and have been omitted and filed
  separately with the Securities and Exchange Commission pursuant to a request
  for confidential treatment in accordance with Rule 406 under the Securities
  Act of 1933 as amended. Asterisks, for example "*****," have been inserted to
  indicate that information has been deleted.

<PAGE>

TABLE OF CONTENTS

<TABLE>
<CAPTION>
Preamble
<S>     <C>
1.       Object of the Contract
1.1      Optical Waveguide Route
1.2      Option for Further Optical Waveguides
1.3      Technical System Premises
1.4      Additional Facilities
1.5      Exchange of Information, Documentation
2.       Provision of the Optical Waveguide Route and the Technical System Premises
2.1      Schedule
2.2      Provision of the Optical Waveguide Route
2.3      Provision of the Technical System Premises
3.0      Special Regulations Pertaining to Rights of Way, Public Law Permits
3.1      Rights of Way on Private Properties
3.2      Rights of Way in Traffic Thoroughfares and Dedicated Public Spaces, Public Law Permits
4.0      Maintenance and Management
4.1      Planned Disengaging of the Optical Waveguide
4.2      Unplanned Disengaging of the Optical Waveguide
4.3      Defects of the Technical System Sites
5.0      Fee
5.1      Utilisation Fee
5.2      Operational and Administrative Costs
5.3      Utilisation Fee for the Technical System Premises
5.3      Fee Adjustment
5.3.1    Adjustment of the Utilisation Fee due to Particular Circumstances
5.3.2    Adjustment of the Utilisation Fee due to Relaying
5.3.3    Annual Fee Adjustment
6.0      Warranty, Liability
6.1      Provisions for the Warranties and Liability until Provision
6.2      Provisions for the Warranties and Liability after Provision
6.3      Force Majeure
6.4      Miscellaneous Provisions for Warranty and Liability
</TABLE>

Seite 2 von 23

<PAGE>

<TABLE>
<S>     <C>
7.       Termination Rights
7.1      General Termination Rights
7.2      Special Termination Rights
7.3      Consequences of Terminating Contract
8.0      General Provisions
8.1      Payments
8.1.1    Sales Tax, Duties
8.1.2    Due Date
8.1.3    Payment Default
8.1.4    Bank Information
8.2      Set-off, Retention
8.3      Telecommunication Permits
8.4      Confidentiality
8.5      Economic Clause
8.6      Transfer to other Corporations
8.7      Salvatorian Clause
8.8      Contractual Amendments, Modifications
8.9      Applicable Law, Legal Venue
8.10     Charge of Previous Actions and Declarations
8.11     Approval of Supervisory Bodies
8.12     Contractual Annexes
8.13     Contractual Term
</TABLE>

Seite 3 von 23

<PAGE>

PREAMBLE

CCG is a newly founded German telecommunications enterprise. Coming from a
background of a liberalized European telecommunications market, CCG is planning
the erection of a Pan-European network for the production of telecommunication
services.

GasLINE is a corporation founded of 15 German gas supply companies which realize
optical waveguide routes. For this GasLINE usually lays optical waveguides
parallel to the gas lines of its partners if needed, even utilising the gas line
location lines of other supply companies and offers the realised optical
waveguide route to telecommunication companies for long-term usage. GasLINE
itself does not intend to enter the telecommunications market.

GasLINE and CCG intend to establish a mutual long-term business relationship.
GasLINE shall provide CCG with dark fibre capacities in its existing network, or
respectively, on network segments, which shall be completed in the near future.
GasLINE is willing to facilitate CCG the market launch at favourable conditions.
Thereby GasLINE is aware of the fact that anticipated profits will only set in
after successful establishment in the market. GasLINE declare they are willing
during the start-up phase (10 years) to grant a loan for the establishment of
the optical waveguide route, the terms of which shall be defined by the
Contractual Parties in a separate contract.

Thereby the following is agreed among both Contractual Parties:

1.       OBJECT OF THE CONTRACT

Object of the contract is the long-term usage of an optical waveguide route as
well as technical system premises for telecommunications purposes as well as the
maintenance and management of these facilities.

1.1      OPTICAL WAVEGUIDE ROUTE

1.1.1    GasLINE shall make 2 fibre pair (4) optical waveguides available to CCG
         on a total route of ca. 2,950 km.

         The specific route and the subdivision in "sub-routes" are evident from
         ANNEX 1 (survey map) and ANNEX 2 (listing of the sub -routes). In the
         event of contradictions between Annex 1 and Annex 2, the latter takes
         precedence.

1.1.2    The technical specifications and performance data of the optical
         waveguides arise from the Technical Specifications (ANNEX 3). The
         interfaces between the

Seite 4 von 23

<PAGE>

         optical waveguide cable systems from GasLINE and the systems from CCG
         are defined in Annex 3.

1.1.3    GasLINE shall provide the sub-routes within its existing network as
         well as in sub-networks which are already being erected in the
         framework of other projects; through this contract GasLINE shall incur
         no personal investment costs. In the event that the provision of the
         optical waveguide route should require additional investment projects,
         GasLINE is entitled to a right to terminate in regard to the sub-routes
         in question; the legal consequences arise from No. 7.3.1, 7.3.3 and
         7.3.4.

1.1.4    GasLINE grant CCG the right to the free and unrestricted usage of the
         four (4) optical waveguides for telecommunications purposes. Excluded
         from this is the further surrender of dark optical waveguides ("dark
         fibres") by CCG to third parties.

1.1.5    The functional rule in the sense of the German Telecommunications Act
         is in the hands of CCG.

1.1.6    GasLINE is willing in the framework of its network erection to offer
         CCG additional optical waveguide routes at the terms defined in this
         contract, unless special circumstances justify a departure.

1.1.7    If during the contractual term GasLINE lays cable with further
         developed fibre types on the optical waveguide route, then the
         Contractual Parties shall enter negotiations concerning the conditions
         of a changeover to the new fibres.

1.2      OPTIONS

1.2.1    GasLINE grants CCG an option to the usage of up to four additional
         fibre pair (8) optical waveguides at the conditions defined in this
         contract. GasLINE undertakes to inform CCG in writing if henceforth a
         free capacity of eight fibres is available. CCG must make a written
         declaration within a deadline of seven days after receiving
         notification if and in terms of how many fibres it shall exercise the
         option. The option lapses after the expiration of this deadline or on
         the 31st of December, 2000 at the latest. If CCG exercises the option,
         GasLINE must provide the fibres on a date which has been arranged
         mutually by the Contractual Parties; at the latest, however, 6 months
         after the option is exercised.

1.2.2    If GasLINE should realize the optical waveguide route
         Berlin-Dresden-Leipzig-Erfurt-Nuremberg (total length ca. 658.0 km)
         currently in planning and equip it with a optical waveguide cable, then
         CCG is entitled, after its completion, to the option of letting this
         optical waveguide route take the place of the optical waveguide route
         Berlin-Magdeburg-Leipzig-Nuremberg (cf. Annexes 1 and 2). GasLINE
         assumes no warranty for the actual or punctual provision of said new
         optical waveguide route. The exercising of the option must be declared
         by CCG in writing within 3 months after GasLINE has informed of the
         completion of the aforesaid route.

Seite 5 von 23

<PAGE>

         The Contractual Parties shall come to an agreement in the event of the
         exercising of the option concerning the schedule and the technical
         procedure of the switch-over. After completion of the switch-over, the
         obligations of GasLINE in terms of the optical waveguide route
         Berlin-Magdeburg-Leipzig-Nuremberg-Munich become ineffective. The costs
         of the switch-over are borne by CCG.

1.3      TECHNICAL SYSTEM PREMISES

1.3.1    GasLINE relinquishes to CCG premises along the optical waveguide route
         for the purpose of the setting up, the operation and the maintenance of
         the transmission facilities of the CCG.

1.3.2    Details concerning the site, equipment and usage of the premises in the
         containers are set forth in Annex 4.

1.3.3    CCG is obligated to use the premises relinquished to them for their use
         for the contractually stipulated purpose and to maintain them in an
         orderly state.

1.3.4    CCG shall always maintain the facilities stored by them in a
         technically impeccable and traffic-safe state. This also applies to the
         systems for the connection of the transmission facilities to the public
         supply.

1.3.5    CCG is obligated to grant GasLINE, as well as persons commissioned by
         them, entry to the premises at all times.

1.3.6    If on the part of GasLINE there are justified complaints raised against
         the traffic safety of the systems of CCG, then CCG is obligated to
         undertake without delay the necessary inspection and maintenance
         measures. If CCG is in default with the necessary measures, then
         GasLINE is entitled to bring about the undertaking of such measures at
         the expense of CCG:

1.3.7    Operational and sideline costs in connection with the systems operated
         by CCG are to be borne by CCG and shall be invoiced by the relevant
         supply company directly to CCG.

1.3.8    After the expiration of this contract, the premises are to be returned
         to GasLINE in their original state. The facilities brought in by CCG
         are to be removed by CCG at their own expense.

1.4      ADDITIONAL FACILITIES

1.4.1    GasLINE and CCG shall jointly define connection routes, cable
         constructions, or respectively, other additional facilities along the
         optical waveguide route. GasLINE shall be reimbursed by CCG for the
         proven costs plus a handling fee of 12.5% of the costs.

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1.4.2    1.4.2 GasLINE shall carry out the work necessary for network couplings
         on its backbone route (civil engineering, setting sleeves, splicing,
         measuring work, documentation, official acceptance) on the existing
         network coupling points. CCG shall reimburse the costs actually
         incurred plus the handling fee pursuant to No. 1.4.1 to the extent that
         these costs including the handling fee for additional equipment exceeds
         100,000 German Marks. The costs for creating the network coupling are
         estimated at approximately ******************* per case.

1.5      EXCHANGE OF INFORMATION, DOCUMENTATION

1.3.1    The Contractual Parties shall jointly provide one another with
         information and documents required for the realization of the project
         in due scope solely for the purpose of conducting the project.

1.3.2    GasLINE shall hand over a route documentation to CCG for the optical
         waveguide route provided on a scale of 1:25,000. This documentation
         shall be handed over to CCG in three copies and on electronic data
         carriers to the extent that this available to GasLINE no later than 16
         weeks after providing the optical waveguide route. If required, CCG
         shall be handed over more detailed documents upon reimbursement of
         costs that is also to be exclusively used within the framework of this
         project.

2.       PROVISION OF THE OPTICAL WAVEGUIDE AND THE TECHNICAL SYSTEM PREMISES

2.1      Schedule

         For the execution of the contract, the Contractual Parties proceed from
         the schedule enclosed as ANNEX 6 ( the "SCHEDULE"). Therein prominent
         key points/sub-steps of the contract execution are defined
         ("MILESTONES") and indicated with targeted dates ("TARGET DATES").

         As the date for the provision of the optical waveguide route as well as
         the technical system premises, the 30th of September, 1999 is planned.

2.2      PROVISION OF THE OPTICAL WAVEGUIDE ROUTE

2.2.1    Before the provision of the optical waveguide, GasLINE shall conduct a
         provision assessment and relinquish the route to CCG for its usage
         (provision).

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* Omitted and filed separately with the Securities and Exchange Commission
  pursuant to a request for confidential treatment.

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2.2.2    The provision procedure is stipulated in the Technical Specifications
         (Annex 3). GasLINE shall indicate to CCG at least a week in advance
         when the provision assessment shall be conducted. CCG is entitled to
         take part in the provision assessment. GasLINE shall hand over copies
         of the assessment records to CCG.

2.2.3    GasLINE shall notify CCG, while handing over adequate proof, that the
         Optical waveguide fibres of the assessed route meet the characteristic
         assessment values in accordance with the specifications in the
         Technical Terms.

2.2.4    If CCG should discover a fault during the inspection of the submitted
         documents, it is incumbent upon CCG to give notification of such
         defect. Liability pursuant to Section 538 of the German Civil Code is
         excluded.

2.2.5    If CCG discovers that the optical waveguide route does not fulfil the
         specifications, it shall inform GasLINE of such within 10 days after
         receiving the aforementioned proof.

2.2.6    If the Optical waveguide route does not fulfil the specifications, and
         CCG has reported this in due time, then the optical waveguide route is
         deemed as not provided. Otherwise the optical waveguide route is deemed
         as provided after the handing over of this proof on the day of the
         provision assessment.

2.2.7    If the optical waveguide route does not comply with the specifications,
         then GasLINE is obligated to establish without delay the operational
         capacity of the optical waveguide route in accordance with the
         specifications. GasLINE shall report the completion of the removal of
         the defect to CCG; so shall the above-captioned procedure of provision
         be then repeated.

2.2.8    If remedying the defects is not successful within an agreed defined
         reasonable time limit, and the defect remedy fails despite the setting
         of a grace period of at least 45 days, CCG has the right to terminate
         the contract in regard to the affected sub-route. The termination
         consequences arise from No. 7.3. Further-reaching damage compensation
         and warrant claims of the CCG against GasLINE are non-existent.

2.3      PROVISION OF THE TECHNICAL SYSTEM PREMISES

         The technical system premises are to be provided to CCG at the latest
         by the provision date pursuant to 2.1.

         Before the provision of the technical system premises, GasLINE will
         conduct a facility inspection. GasLINE shall indicate to CCG at least
         one week in advance when the inspection shall be conducted. If the
         technical system premises do not comply with the specifications in
         Annex 4, then No. 2.2.4, 2.2.6 to 2.2.6, respectively, go into effect.

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3.       SPECIAL REGULATIONS PERTAINING TO RIGHTS OF WAY, PUBLIC LAW PERMITS
         CONCERNING NEW ROUTES TO BE ERECTED.

3.1.1    CCG is aware that neither GasLINE nor the gas supply company currently
         have contractually negotiated agreements with the individual landowners
         on the usage of the properties required for the realization of the
         sub-route for general telecommunications.

3.1.2    For its existing natural gas lines, the gas supply company has limited
         personal servitudes and/or obligatory licence agreements according to
         which they are entitled to lay and operate long-distance gas lines with
         cables and accessories. It is not to be ruled out that in regard to
         individual segments, this entitlement does not exist, or does not exist
         in its full extent, or respectively, cannot be substantiated or
         obtained. This applies even in reference to the gas supply company with
         a share in GasLINE:

3.1.3    If due to existing and demonstrable rights, the application of
         Section  57 Par. 1 No. 1 German Telecommunications Act should be a
         possibility, GasLINE shall endeavour for a expeditious settlement with
         the landowners for the settlement of all claims pursuant to Section 57
         Par. 2 German Telecommunications Act. As far as Section 57 German
         Telecommunications Act cannot be applied, then the rights of way for
         telecommunications should be obtained primarily by assurances in rem.
         Alternatively, if no assurance in rem can be obtained from the
         landowner, GasLINE shall endeavour to negotiate obligatory licence
         agreements for the usage of the properties for general
         telecommunications. The holder of the right may be the gas supply
         company whose location line is being used and who transfers the
         exercising of their legal positions to GasLINE.

3.1.4    For compensation payments in connection with the permission of the
         laying, the outline agreements concluded between the relevant competent
         farmer's unions and other landowners and the gas supply companies are
         decisive. ANNEX 5 contains a description of the procedure as well as an
         example of such an outline agreement, the key data of which follow the
         other outline agreements as well. As far as Optical waveguide cable or
         protective cable pipes have already been laid, the Contractual Parties
         assume that pursuant to Section 57 German Telecommunications Act no
         compensation payments shall be made to the landowner. GasLINE is not
         obligated to exceed the payments stipulated in the outline agreements
         with the farmer's unions in order to obtain the right of way.

3.1.5    In terms of the intersections of location lines of the Deutsche Bahn
         AG, the gas supply companies who are partners of GasLINE have reached a
         special agreement with the Deutsche Bahn AG which is decisive for the
         project.

3.1.6    The technique and the engineering services in connection with acquiring
         the right of way and handling payments for compensation are described
         in Annex 5. To this extent, the only thing that is owed is a service.
         Should further activities be necessary than established in Annex 5 to
         achieve and assert right of way, GasLINE shall arrange for them. The
         costs caused by said activities shall be added to the costs for right
         of way and compensation for land.

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3.1.7    If in the course of the execution it should become apparent that a
         procedure pursuant to Section 57 German Telecommunications Act because
         of the dispensation of justice due to lacking requirements or lacking
         practical enforceability is not possible as expected in the predominant
         number of the cases, then the further procedure between the Contractual
         Parties shall be agreed upon consequently. The same applies if
         difficulties arise outside of the German Telecommunications Act. In the
         events where difficulties arise during the assertion pursuant to
         Section 57 German Telecommunications Act or with the acquisition of the
         rights of way outside the German Telecommunications Act which could
         likely lead to an extension beyond of the provision date or to an
         impossibility in terms of the provision of the sub-route in question,
         GasLINE shall inform CCG hereof and consult with CCG about how the
         contract can be executed as expeditiously as possible.

3.1.8    The risk of the non-acquisition or non-enforceability of the rights of
         way as well as the punctuality for the aforementioned ground is borne
         solely by CCG. Any liability of GasLINE and their vicarious agents in
         connection with rights of way is ruled out, unless there is
         premeditation on the part of GasLINE.

3.1.9    Unaffected remains the right of CCG to terminate pursuant to No. 7.2.
         the optical waveguide, the realisation of which is unrealistic due to
         the lacking rights of way. In regard to the legal consequences, the
         regulation in No. 7.3.2 is effective.

3.2      RIGHTS OF WAY IN TRAFFIC THOROUGHFARES AND DEDICATED PUBLIC SPACES,
         PUBLIC LAW PERMITS

3.2.1    With regard to possible required permits and permissions under public
         law, No. 3.1 is effective.

3.2.2    Public law permits in this sense are in particular:

         permits or permissions or usage agreements (e.g. street usage
         agreements with the construction carriers) which are required

         -        in connection with the intersection of traffic thoroughfares
            and the route laying along or in traffic thoroughfares

         -        in connection with the intersection of waterways or the
            erection of facilities in or along bodies of water

         -        for works in flood areas

         -        for works which could have an effect on the water table

         -        in connection with the Federal German Nature Conservation Law
            and the Nature Law and Natural Reserve laws of the Federal German
            States, the construction laws or, if applicable, the regional
            planning laws.

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3.2.3    The costs and fees for the processing of the permits, compensation
         payments pursuant to Section 52 (2) and utilisation fees for the usage
         of public spaces belong to the right of way and land compensation
         costs.

3.2.4    If in terms of the utilisation fee-free usage of public (dedicated or
         fiscal) space it is necessary or expedient for schedule-related or
         other reasons that the proper utilisation permits in regard to the
         facility used by CCG be obtained in the name of CCG, CCG shall issue
         the appropriate authorisation to GasLINE, or respectively, their
         representatives. The same applies if it is expedient for the
         realization of the project or in order to avoid schedule delays or
         extra costs that CCG make an outward appearance as a building
         contractor. In their internal relations CCG and GasLINE shall treat one
         another as if the permit had been issued to GasLINE. The issuance of
         the permit to CCG does not affect the ownership rights of GasLINE.

4.       MAINTENANCE AND MANAGEMENT

         GasLINE is obligated to maintain the optical waveguide and the
         technical system sites in according with the technical specifications
         in Annex 3 and Annex 4. GasLINE shall perform these services beginning
         with the provision of the optical waveguides, or respectively, the
         technical system premises.

4.1      PLANNED DISENGAGEMENT OF THE OPTICAL WAVEGUIDE OPERATION

         In the framework of the maintenance and/or due to relaying which
         becomes necessary (street-works etc.), the necessary planned
         disengagement or down times of the optical waveguide fibres in the
         framework of the contractual usage are permitted. The planning and
         agreement process for planned works is stipulated in Annex 3 (Technical
         Specifications). In regard to the following Point 4.2, the
         disengagement and down times remain disregarded.

4.2      DISTURBANCES OF THE OPTICAL WAVEGUIDE OPERATION

         If it should come to unplanned disruption, or if the optical waveguide
         fibres do not fulfil the specifications in accordance with Annex 3, the
         following goes into effect:

4.2.1    Removal of disturbance by GasLINE

         GasLINE is obligated to remove arising disturbances without delay.
         GasLINE shall secure that the optical waveguide fibres are re-available
         at the latest 24 hours after a disturbance is reported.

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4.2.2    Penalties

         In the event of the excess of said time limit, GasLINE shall pay -
         unless GasLINE brings forth evidence that GasLINE or their vicarious
         agents are not at fault in regard to the overrun of the time - a
         contractual penalty per commenced hour in an amount of DM **********
         ******, a maximum, however of DM ******** each per disturbance event.
         This contractual penalty is, if applicable, in addition to the
         compensation to be paid pursuant to Paragraph 4.2.3.

4.2.3    Flat-rate warranty of the network availability

         In the event of the overrun of the permissible disturbance-related down
         time of 7.5 hours per 100 km, GasLINE shall pay CCG a flat-rate
         compensation. This amounts to ********** for each full hour of the
         overrun of the permissible down time and is limited in amount to a
         total of **********.

4.2.4    Severe Losses/ Downfall

         A severe loss or downfall in the sense of this contract exists if the
         disruption of operations entails a repair of 100 m of damaged length or
         a disruption is objectively not remediable within 24 hours. Moreover,
         disturbances count as such which can be traced to a damage in the gas
         line which runs besides this cable or which were unavoidable necessary
         due to the operation and maintenance of this gas line.

         In these events GasLINE shall endeavour to achieve the quick as
         possible restoration of the optical waveguide cable system. The
         contractual penalty defined in 4.2.2 and 4.2.3 will, however, not be
         owed. For the duration of such disruptions CCG is insofar released from
         its obligation of paying the utilisation fee.

4.3      DEFECTS IN THE TECHNICAL SYSTEM PREMISES

         If in the course of the contractual term a defect in the technical
         system premises arises, CCG must report this to GasLINE. GasLINE is
         obligated to remedy the defect without delay. If the remedying of the
         defect is not successful within a consensual stipulated reasonable time
         period, CCG has the right to remedy the defect themselves and to demand
         the reimbursement of the necessary expenditures.

5.       FEE

5.1      UTILISATION FEE OPTICAL WAVEGUIDE ROUTE

5.1.1    The utilisation fee for the 4 optical waveguide fibres (No. 1.1)
         amounts to per annum:

                 ************************************

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* Omitted and filed separately with the Securities and Exchange Commission
  pursuant to a request for confidential treatment.

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5.1.2    The additional utilisation fee for the 8 additional optical waveguide
         fibres (No. 1.2.1) amounts to per annum

                 ************************************

                  If the option for less than 8 fibres is exercised, the
                  utilisation fee is calculated proportionately in relation to
                  the number of fibres, in regard to those for which the option
                  is exercised, to the total number of the optional fibres.

5.2      OPERATIONAL AND ADMINISTRATIVE COSTS

         For the operational and administrative costs including service and
         maintenance of the optical waveguide , CCG shall pay GasLINE a fixed
         annual fee ("maintenance fee") of:

                 ************************************

         If CCG exercises the option pursuant to 1.2.2 of the contract, the
         operational and administrative costs shall increase by ********
         *************************. In the event that CCG exercises the
         option pursuant to 1.2.1 of the contract, the operational and
         administrative costs do not increase.

5.3      UTILISATION FEE FOR TECHNICAL SYSTEM PREMISES

         The utilisation fee for the technical system premises including
         maintenance and management amounts to per site:

                 ************************************

5.4      FEE ADJUSTMENT

5.4.1    ADJUSTMENT OF THE UTILISATION FEE DUE TO SPECIAL CIRCUMSTANCES

(1)      In the event that GasLINE incurs additional right of way and land
         compensation costs for the contractual optical waveguide sub-routes as
         the result of a change in the law or a modification of the
         dispensation, such as costs for the compensation of landowners, the
         acquisition of servitudes, for the usage of public pathways,
         intersectional and administrative fees, then the Contractual Parties
         shall negotiate this.

(2)      CCG bears the additional costs as far as the costs exceed 1.53 EUR
         (3.00DM) per meter of route length.

(3)      A modification of the dispensation is only to be considered if the
         decisions for GasLINE or a gas supply company, along whose gas lines
         the optical waveguide route is laid, is legally binding or if there is
         a decision from the Federal German Constitutional Court, the Federal
         German Supreme Court or an incontestable decision from the Regional
         Court of Appeal.

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* Omitted and filed separately with the Securities and Exchange Commission
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(4)      In the event that the optical waveguide route , for which the
         additional costs arise, is used by other telecommunication companies as
         well, the additional costs will be divided by all users per capita. If
         the route in question is

         surrendered for usage to other telecommunication companies by GasLINE
         after the successful transfer of the costs, then a proportional
         reimbursement of the transferred costs shall follow.

(5)      GasLINE shall supply evidence for the extra costs with relevant
         documents at the request of CCG. CCG has the right to be informed of
         the number of users and to have this information checked by an
         independent chartered accountant.

5.4.2    ADJUSTMENT OF THE UTILISATION FEE ON THE BASIS OF RELAYING

(1)      In the event of the relaying (e.g. due to street-work measures) of the
         optical waveguide route cable systems, the costs arising from such
         shall be borne by CCG. In the event of the usage of the optical
         waveguide cable systems by several telecommunication companies, these
         costs will be borne according to the number of fibres used by the
         company.

(2)      5.3.1.5 apply accordingly.

5.4.3    ANNUAL FEE ADJUSTMENT

(1)      The utilisation fee for the optical waveguides pursuant to No. 5.1 is
         subject to an annual adjustment according to the manufacturer's price
         index for industrial goods pursuant to the computational formula in
         ANNEX 7. The initial adjustment will take place in 2003 taking into
         consideration the price changes from the time of the contract
         conclusion.

(2)      The maintenance fee pursuant to No. 5.2 is subject to an annual
         adjustment according to the labour costs index according to the
         computational formula in ANNEX 8. The adjustment will take place for
         the first time in 2003 taking into consideration the price changes
         beginning with the time of the contract conclusion.

(3)      The utilisation fee for the technical system premises pursuant to No.
         5.3 is subject to 50% of an annual adjustment according to the
         manufacturer's price index pursuant to the computational formula in
         ANNEX 7 and to 50% according to the labour costs index according to the
         computational formula in ANNEX 8. The initial adjustment will take
         place in 2003 taking into consideration the price changes from the time
         of the contract conclusion.

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6.       WARRANTY, LIABILITY

         Provided no regulations to the contrary have been met in this contract,
         the follow provisions are effective for the warranty and liability:

6.1      PROVISIONS FOR THE WARRANTY AND LIABILITY UNTIL PROVISION

6.1.1    GasLINE shall endeavour to the best of its ability to conduct all
         designated works for the provisions by the target dates set forth in
         the schedule; they do not, however, take responsibility for the actual
         and punctual realizability of the optical waveguide route and the
         technical system premises.

6.1.2    The liability for the contractual and non-contractual obligations of
         GasLINE (including its vicarious agents) is limited to the
         premeditation of its legal representatives.

6.1.3    GasLINE shall stipulate in the contracts with its vicarious agents
         customary market and sector liability regulations. If GasLINE should be
         entitled to claims against third parties, which are due to performance
         disruptions or other faulty contractual performances in regard to the
         optical waveguide route or the technical system premises to be provided
         to CCG, GasLINE is willing to assign these claims to CCG as far as they
         have not already been assigned or should be assigned to customers who
         entered a contract with GasLINE before CCG.

6.2      PROVISIONS FOR THE WARRANTY AND LIABILITY AFTER PROVISION

6.2.1 In No. 4 special regulations on disturbances and the availability of the
optical waveguide as well as the warranty for the technical system premises are
set forth. Beyond the legal consequences which are specified therein, no further
damage compensation claims, utilisation fee reduction or termination rights may
be mutually asserted.

The right of both Contractual Parties to an extraordinary termination with cause
remains unaffected.

6.2.2    After provision, the liability of the Contractual Parties for the rest
         is limited for themselves and their vicarious agents - except in cases
         of the premeditation of the legal representative - to gross negligence
         and to direct damage (physical and material damages). The replacement
         of pure property damages is excluded. The liability for direct damages
         is limited to a maximum of 5 million DM per liability case and a
         maximum of 10 million DM per annum.

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6.3      FORCE MAJEURE

         In the events of force majeure, as long as not stipulated otherwise in
         this contract, the following is effective:

6.3.1    If it should become impossible for one of the Contractual Parties due
         to event of force majeure to fulfil the obligations undertaken in the
         framework of this agreement, so is the Contractual Party insofar
         released from the fulfilment of his obligations for the duration of
         such events. Accordingly the obligations of the other Contractual Party
         which oppose these obligations are cancelled. This does not apply to
         the payment obligations of CCG. Excluded from this are insofar the
         cases provided under No. 4.2.4

6.3.2    The Contractual Partner affected by the events of force majeure shall
         inform the other Contractual Partner immediately concerning the
         limitation of his contractual obligation and shall endeavour to remove
         as quickly as possible the hindrances which stand in the way of the
         fulfilment of the contractual obligations.

6.3.3    Deemed as events of force majeure are in particular, but not limited
         to, war, unrests, sabotage, legislative interventions, strike, natural
         catastrophes and extreme bad weather conditions.

6.4      MISCELLANEOUS PROVISIONS FOR WARRANTY AND LIABILITY

6.4.1    In favour of landowners as well as property users and other authorized
         parties, whose location lines or properties are used for the fulfilment
         of the contract, all possible damage compensation claims of CCG against
         these are limited to damages caused premeditatedly. To gas supply
         companies, whose location lines or properties are utilised for the
         fulfilment of the contract, damage compensation claims are ruled out,
         except in the event of premeditation.

6.4.2    If CCG refuses services, in particular fee payments, while citing
         GasLINE's own premeditation or gross negligence, CCG shall be
         encumbered with the burden of proof. No. 4.2.2 remains unaffected.

7.       TERMINATION RIGHTS

7.1      GENERAL TERMINATION RIGHTS

         Ordinary termination rights do not exist subject to No. 7.2. The right
         to terminate for good cause remains unaffected.

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7.2      SPECIAL TERMINATION RIGHTS

7.2.1    If because of concrete facts

         -        due to lacking rights of way or public law permits
         -        for lack of technical system premises
         -        for lack of needed cooperative actions by CCG
         -        due to force majeure

         the provision of the optical waveguide route and/or the technical
         system premises are seriously unrealistic, the Contractual Parties
         shall endeavour to find a consensual solution for proceeding further in
         regard to the sub-route in question or the technical system premises in
         question. If a consensual solution cannot be reached within 4 weeks,
         after a Contractual Party has informed the other of such in writing
         that he deems the provision of a sub-route or a technical system
         premises to be unrealistic, both Contractual Parties have the right
         within a deadline for giving notice of 2 weeks to terminate the
         contract in writing in regard to the affected sub-route or the affected
         technical system premises.

7.2.2    If the loan contract entered into by the Contractual Parties in
         connection with this contract on 14 JULY 1999 is terminated, GasLINE
         has the right to terminate this contract with a deadline for giving
         notice of 6 months.

7.3      CONSEQUENCES OF TERMINATION

7.3.1    With the going into effect of the termination, CCG and GasLINE are
         released, with the exception of the following regulated consequences,
         from the obligations arising from this contract.

7.3.2    All expenditures caused up until the going into effect of the
         termination in terms of the affected sub-route/technical systems
         premises according to the authority of this contract (regardless
         whether or not the costs connected with such have already been accrued
         or shall still accrue) shall be investigated by GasLINE and reimbursed
         by CCG to GasLINE within 30 days after the invoicing made by GasLINE.
         As far as GasLINE has entered contracts with other users for the
         affected optical waveguide route, only those expenditures shall be paid
         by CCG which are to be assigned to the designated usage by CCG pursuant
         to this optical waveguide contract.

7.3.3    All planning results developed by GasLINE, processed objects and the
         optical waveguide route in question itself remain - as long as they are
         not the property of third parties - in the possession of GasLINE. Under
         no circumstances does CCG have a claim to the transfer of these
         planning results, objects or the optical waveguide route.

7.3.4    The legal consequences of the termination are herewith ultimately
         regulated. A warranty and/or liability of GasLINE beyond the events set
         forth in this contract is ruled out.

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8.       GENERAL PROVISIONS

8.1      PAYMENTS

8.1.1    SALES TAX, DUTIES

         All payments include the then currently effective sales taxes, all
         other duties are contained in the agreed fees. If in the future,
         additional encumbrances of the telecommunications sector or the
         provision of optical waveguide fibres or other activities falling under
         this contract shall be newly introduced, GasLINE is entitled to raise
         the fees accordingly.

8.1.2    DUE DATE

(1)      The annual utilisation fee and the fee for operations and management
         pursuant to No. 5 of this contract is due for payment in 2 instalments
         respectively by the 1st of April and by the 1st of October for the then
         current running half-year (01.01 until 30.06; 01.07 until 31.12). The
         first payment shall be made at time intervals by the first due date
         following the provision of the optical waveguide route as well as the
         accompanying technical system premises.

(2)      GasLINE shall invoice CCG for the recurring payments each by the 28th
         of February and the 31st of August (thus each a month before the due
         date).

(3)      All other payments remaining to be paid shall be due 30 days after
         invoicing as far as not expressly provided otherwise.

8.1.3    PAYMENT DEFAULT

(1)      If CCG is in arrears with the payments, GasLINE shall charge CCG
         interest in an amount of 3% points above the then current 3 months
         EURIBOR rate.

(2)      If CCG is in arrears with a payment pursuant to this contract for more
         than 30 days, and if CCG continues to not pay despite two reminders
         (the second with a threat of termination) each granting a 10 day
         payment deadline, GasLINE has the right to an

extraordinary termination of the contract; further reaching statutory claims
remain unaffected.

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8.4.1    BANK INFORMATION

         Payments are regarded as having been paid on the day of the
         availability date on the account of GasLINE

                No. 4.048.209/00
                at the Dresdner Bank AG, Essen, Germany
                bank code:        360 800 80,

         or as far as payments are to be made to account of CCG, then to:

                No. 011859600
                at the Deutsche Bank Hannover
                bank code: 250 700 70

         A change in the bank information is to be reported to the other
         Contractual Party in writing. 8.8 insofar have no application.

8.2      SET-OFF, RETENTION

         As far as not provided otherwise in the contract, the Contractual
         Partners are allowed to set-off only by means of incontestable or
         legally binding claims. It is also not permissible to retain equivalent
         partial amounts of due payments on the basis of unresolved
         counterclaims.

8.3      TELECOMMUNICATIONS PERMITS

8.3.1    CCG shall obtain a telecommunications licence before the system is put
         into operation and hand over a copy of the licence to GasLINE. As far
         as a declaration is required for the authorities, public law bodies or
         landowners, that CCG is a licence holder, or that the route to be
         erected shall be used, CCG shall make this declaration.

8.3.2    If CCG requires other public law permits of a telecommunications nature
         in connection with the execution of this contract or the usage for the
         further marketing of the optical waveguide fibres provided to them, CCG
         will see to the obtaining of such permit. If CCG is not or only in part
         is issued the required permits in this connection, so shall this not
         release CCG from its obligations arising from this contract. Likewise
         applies if CCG gives up already acquired permits of the above-captioned
         nature or if the required permit has been revoked of them.

8.3.3    Both Contractual Parties assume that GasLINE requires no permits
         pursuant to the German Telecommunications Act for the contractual
         services they are to perform. If this should be the case contrary to
         expectations, GasLINE shall endeavour to obtain the relevant permits
         without delay. As far as certain duties are bound herewith, CCG shall
         bear the costs according to their utilisation share.

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8.4      CONFIDENTIALITY

8.4.1    The Contractual Parties hereby undertake to treat with confidentiality
         all information which they receive from the other Party directly or
         indirectly in the framework of this contract, the preparation of such,
         and in connection with its execution.

8.4.2    Confidential treatment means that the information received from the
         other Contractual Party is not made accessible to third parties and
         that this information - whether directly or indirectly- may not be used
         economically for one's own purposes or for third parties.

8.4.3    The Contractual Parties undertake to use the received information
         exclusively for the purpose stated in the Preamble. Usage which extends
         beyond this or the passing on to third parties requires in each
         individual case the previous written approval of the information
         provider, stipulating the content, scope and addressee. The necessary
         passing on due to the project of information to financial credit
         institutions and/or to individual tax or legal advisors as well as the
         passing on of the technical information needed for the realization of
         the project by GasLINE to subcontractors or to concerned gas supply
         companies is, however, permissible without the separate written
         approval of the information provider under the conditions that the
         transmission of the information is limited to the scope required for
         the execution of the contract and that the receiver of the information
         undertakes an obligation to the confidential treatment in the sense of
         this agreement. The Contractual Parties shall also bind their employees
         to maintain confidentiality.

8.4.4    Unaffected remains the right of GasLINE to disclose the individually
         available optical waveguide routes in their location course in the
         framework of the additional marketing of potential users.

8.4.5    Each party shall protect the information received from the other party
         with the same diligence with which they would protect their own
         business and operational secrets, at least, however, with the due
         diligence of a proper businessperson.

8.4.6    The secrecy obligation does not apply to information

         -        which is already known to the receiver of the information at
            the time of the relinquishment without the obligation to maintain
            secrecy or

         -        which has already been publicly accessible at the time of the
            relinquishment or - which without the fault of the receiver of the
            information - had been made publicly accessible at a later time or

         -        which is received regularly on the part of third parties
            without the obligation to maintain secrecy.

         Insofar the burden of proof is incumbent upon the party which passed on
         the information.

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8.4.7    Regardless of the above captioned provisions, each party is entitled to
         meet their statutory and stipulated corporate disclosure duties, also
         in terms of the information surrendered to them.

8.4.8    The obligation of confidentiality shall continue to survive for the
         duration of five (5) years after the expiration of the usage time
         period utilised by CCG.

8.4.9    The content, form, date, etc. of the information of the publicity
         concerning the cooperation, the contract and the joint position towards
         authorities, organisations, landowners, local regional authorities,
         other companies, etc. shall be agreed upon between the Contractual
         Parties.

8.5      ECONOMIC CLAUSE

         If the technical, economic, or legal stipulations, under which the
         contractual provisions (fee and terms) were agreed upon undergo a
         fundamental modification and if as a result of such a party can no
         longer be expected to retain the contractual provisions any longer
         because the intentions aiming at the mutual economic interests
         contained in this contract of the party entering the contract cannot be
         fulfilled, so can this party demand that the contractual provisions be
         adjusted accordingly to the changed circumstances, unless the
         contractual provision is such that contains an explicit transfer of
         risk. Insofar no adjustment can be demanded.

8.6      TRANSFER TO OTHER COMPANIES.

         The transfer of the rights and obligations arising from this contract
         by CCG to another company requires the previous approval of GasLINE.
         This approval cannot be refused arbitrarily. It can - even in the event
         of affiliated companies - in particular then be refused if the company
         in whose place the then current contractual Party should stand, does
         not have its domicile in the European Union, or if this company does
         not offer in the same manner warranty for the fulfilment at all times
         of the contractual obligations as does the Contractual Party in whose
         place it should stand.

8.7      SALVATORIAN CLAUSE

         If a provision of this contract is or shall become ineffective, the
legal validity of the remaining provisions remain unaffected by such. The
Contractual Parties shall agree to an effective provision in the place of

the ineffective provision which comes closest to the mutual will, economically
speaking. Likewise applies to the filling of any regulatory loopholes.

8.8      CONTRACTUAL AMENDMENTS, MODIFICATIONS

         No subsidiary agreements exist. Modifications and/or amendments as well
         as subsidiary agreements to this contract are required in written form
         and signed by both Contractual Parties. The same applies to a waiver of
         this written form requirement itself.

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8.9      APPLICABLE LAW, LEGAL VENUE

         For all legal relationships arising from this contract, the preparation
         of such and its execution, German law shall govern except for the
         provisions of the CISG. Legal venue is the domicile of the sued party.

8.10     CHARGE OF PREVIOUS ACTIONS AND DECLARATIONS

         CCG hereby makes the binding confirmation: All persons, who have acted
         on the part of CCG during the previous negotiations and other contracts
         with GasLINE have acted exclusively for CCG, or respectively, made and
         received declarations exclusively for CCG. In favour of the partners of
         CCG, no legal relationships or claims were substantiated from the
         opening up of the business relationship as well as from the previous
         negotiations. Likewise applies to future negotiations and possible
         contractual agreements, unless otherwise is agreed by the Contractual
         Parties in writing.

8.11     APPROVAL OF THE SUPERVISORY BODIES

         The entire contract is subject to the approval by the partners' meeting
         of GasLINE. GasLINE shall inform CCG immediately of the result of the
         decision.

8.12     ANNEXES TO THE CONTRACT

         The annexes name below are an element of this contract:

         Annex 1:   Survey Map
         Annex 2:   Listing of the Sub-routes
         Annex 3:   Technical Specifications
         Annex 4:   Specifications of the Technical System Premises
         Annex 5:   Rights of Way and Compensation Payments, Outline Agreements
         Annex 6:   Schedule
         Annex 7:   Fee Adjustment of the Utilisation Fee
         Annex 8:   Fee Adjustment of the Maintenance fee

         In the event of contradictions between the annexes and the contractual
         text, the provisions of this contract take precedence.

8.13     CONTRACTUAL TERM

8.13.1   This contract goes into effect when signed by both Contractual Parties.

8.13.2   The contractual utilisation term for the optical waveguide amounts to
         10 years and commences with the provision; a delayed provision as
         compared to the planned provision date in the schedule changes nothing
         in the respective utilisation term of 10 years.

8.13.3   The utilisation term for the optical waveguide prolongs itself by eight
         more years if CCG declares this in writing at the latest 12 months
         prior to the end of the utilisation term to GasLINE.

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8.13.4   The contractual utilisation term for the technical system premises
         amounts to 5 years beginning with provision. The utilisation term
         prolongs itself by a further 5 years if the Contractual Parties do not
         previously terminate this contract in regard to the technical system
         sites in writing with a deadline for giving notice of 12 months.

 ... [BOCHUM]...., ...[THE 14TH JULY 1999]... .... [BOCHUM].... ...[14.07.99]...

Carriers' Carrier Gesellschaft mbH    GasLINE
                                      Telekommunikationsnetzgesellschaft
                                        deutscher
                                      Gasversorgungsunternehmen mbh & Co. KG
                                      represented by GasLINE
                                      Telekommunikationsnetzgesellschaft
                                        deutscher
                                      Gasversorgungsunternehmen mbh

/s/                                   /s/
--------------------------------      -----------------------------------

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