Document:

Exhibit
4.10

WATERFORD WEDGWOOD PLC

SIR ANTHONY
O'REILLY

- and -

MR PETER JOHN
GOULANDRIS

RELATIONSHIP AGREEMENT

WILLIAM FRY
 Solicitors
 Fitzwilton House

Wilton Place
 Dublin 2

002542.0207.KC

TABLE OF CONTENTS

															
	1.		DEFINITIONS		4
	2.		EFFECTIVE
DATE		5
	3.		UNDERTAKINGS		5
	4.		DIRECTOR
CONFLICTS		6
	5.		ENFORCEMENT		6
	6.		TERMINATION		6
	7.		MODIFICATION		7
	8.		SEVERABILITY		7
	9.		COUNTERPARTS		7
	10.		CONSTRUCTION		7
	11.		CAPTIONS		7
	12.		GOVERNING
LAW		7		 	 	 
	13.		NOTICE		7
	14.		CONFLICT OR
INCONSISTENCY		8
	

2

THIS AGREEMENT is made on 20 June
2005

BETWEEN:

		WATERFORD WEDGWOOD
plc,
 a Public Limited Company registered in
 Ireland under
number 11861
 whose registered office is
 at Kilbarry,
Waterford, Ireland
 (hereinafter referred to as the
"Company")

		SIR
ANTHONY O'REILLY
 of Lissadell, Lyford Cay, Nassau,
Bahamas
 (hereinafter referred to as "Sir Anthony
O'Reilly")

- and -

		MR PETER JOHN GOULANDRIS
 of Sea Saga,
Edgewater Drive
 Lyford Cay, Nassau, Bahamas
 (hereinafter
referred to as "Mr Goulandris")

WHEREAS:

A.    The Company has at the date
of this Agreement an authorised share capital of
€210,000,000 divided into 3,500,000,000 ordinary shares of
€0.06 each, of which 2,658,632,610 are in issue and fully
paid up.

B.    The Company proposes to raise up to
€101,000,000 (before commissions and expenses) by means of
the issue of the Rights Issue Units (as defined below) on the terms to
be set out in the Prospectus (as defined below).

C.    The
Company must comply with the Listing Rules (as defined below), which
require the Company to be capable at all times of carrying on its
business independently of any Controlling Shareholder (as defined
below), including any Associate (as defined below) thereof, and that
all transactions and relationships between the Company and any
Controlling Shareholder or Associate thereof be at arm's length
and on a basis no less favourable to the Company than a normal
commercial basis.

D.    Each of Sir Anthony O'Reilly and
Mr Goulandris may become a Controlling Shareholder (as defined below)
following completion of the Underwriting (as defined below).

E.    The Company, Sir Anthony O'Reilly and Mr Goulandris
have entered into this Agreement for the purposes of the Listing Rules,
including in particular paragraphs 3.12 and 3.13 of the Listing
Rules.

NOW IN CONSIDERATION OF Sir Anthony O'Reilly and Mr
Goulandris agreeing severally to enter into certain undertakings with
the Company upon and subject to the terms and conditions of this

3

Agreement, and in consideration of the receipt
of the sum of €1.00 by each of the parties hereto from
each of the other parties hereto (the receipt of which is hereby
acknowledged) and for other valuable consideration the sufficiency of
which is hereby acknowledged, IT IS HEREBY AGREED AS
FOLLOWS:

		
	1. 	Definitions

In this
Agreement the following expressions shall have the following meanings
unless the context otherwise
requires:

			
		(a) 	"Articles",
the Articles of Association of the Company for the time being and as
amended from time to
time;

			
		(b) 	"Associate",
the meaning given to such expression in paragraphs 11.1(d) and (e) of
the Listing
Rules;

			
		(c) 	"Board",
the Board of Directors of the Company for the time being and from time
to time;

			
		(d) 	"Controlling
Shareholder", any person (or persons acting jointly by
agreement whether formal or otherwise) who
is:

			
		(i) 	entitled to exercise, or to
control the exercise of, 30% or more of the rights to vote at
general meetings of the Company (but the rights to vote attaching to
any treasury shares held by the Company are not to be taken into
account when calculating a person's percentage rights to vote
under this paragraph); or

			
		(ii) 	able to
control the appointment of directors who are able to exercise a
majority of votes at board meetings of the
Company.

			
		(e) 	"Current
Relationship Directors", Sir Anthony O'Reilly, Mr
Goulandris, Lady Chryss O'Reilly and Mr Tony O'Reilly,
Jnr.;

			
		(f) 	"Directors",
the Directors of the Company for the time being and from time to
time;

			
		(g) 	"Group",
the Company and its subsidiaries and subsidiary undertakings for the
time being and from time to time and "member of the
Group" means any one of them;

			
		(h) 	"Holding",
the interest of each Principal Shareholder in the equity share capital
of the
Company;

			
		(i) 	"Income
Shares", non-voting shares of nominal value Stg 1p each in
the capital of Waterford Wedgwood UK plc which, when issued with and
tied to an Ordinary Share, entitle holders of Stock Units to elect to
receive dividends paid from UK-sourced profits;

			
		(j) 	"Independent
Board", for the purposes of each particular determination
to be made by the Board for the purposes of Clauses 3 and 4 of this
Agreement, the Independent
Directors;

			
		(k) 	"Independent
Directors", now, the Directors other than the Current
Relationship Directors, and, on an ongoing basis, the Directors other
than the Current Relationship Directors and any Director connected to
one or both of the Principal Shareholders within the meaning of Section
26 of the Companies Act 1990 (as amended by Section 76 of the Company
Law Enforcement Act 2001) and any Director who has a significant and
direct business relationship with either or both of the Principal
Shareholders which, in the reasonable opinion of the Independent Board
(excluding also the Director whose relationship is being considered),
would materially interfere with the exercise by him/her of independent
judgment on such
matter;

			
		(l) 	"Irish Stock
Exchange", The Irish Stock Exchange
Limited;

			
		(m) 	"Listing
Rules", the listing rules of the Irish Stock Exchange
and/or, where appropriate, the listing rules of the UK Listing
Authority, as they may be varied, supplemented and amended from time to
time, inter alia to reflect the Regulations;

			
		(n) 	"London Stock
Exchange", The London Stock Exchange plc;

4

			
		(o) 	"Ordinary
Shares", ordinary shares of nominal value
€0.06 each in the capital of the
Company;

			
		(p) 	"Principal
Shareholders", Sir Anthony O'Reilly and Mr
Goulandris;

			
		(q) 	"Prospectus",
the prospectus or listing particulars for the purposes of the Rights
Issue relating to the Company and the Group, as required by the
Regulations and the Listing
Rules;

			
		(r) 	"Regulations",
the European Communities (Stock Exchange) Regulations 1984 and the
European Communities (Transferable Securities and Stock Exchange)
Regulations 1992 or any legislation implemented in substitution
therefore, including the European Communities (Prospectus) Regulations
2005 and the Investment Funds, Companies and Miscellaneous Provisions
Act 2005;

			
		(s) 	"Rights
Issue", the issue of 1,661,857,115 Stock Units to holders
of Stock Units on the basis of 7 Rights Issue Units for every 11 Stock
Units held announced by the Company on 4 May
2005;

			
		(t) 	"Rights Issue
Units", 1,661,857,115 Stock Units to be issued pursuant to
the Rights Issue;

			
		(u) 	"Stock
Exchanges", together the Irish Stock Exchange and the
London Stock Exchange and either of them a "Stock
Exchange";

			
		(v) 	"Stock
Unit", one Ordinary Share and one Income Share, which are
twinned;

			
		(w) 	"UKLA", or
"UK Listing Authority", the Financial
Services Authority acting in its capacity as the competent authority
for the purposes of Part VI of the Financial Services and Markets Act
2000 of the United Kingdom; and

			
		(x) 	"Underwriting",
the underwriting of the Rights Issue in accordance with the terms of
the conditional Underwriting Agreement dated 20 June 2005 between the
Company, Birchfield Holdings Limited and J&E
Davy.

		
	2. 	Effective
Date

			
		(a) 	The provisions of this
Agreement shall come into effect on the date that either or both of the
Principal Shareholders becomes a Controlling Shareholder of the Company
pursuant to the Rights Issue and shall have no effect in the period
prior to that date. If such event has not occurred on or before 30
August 2005 or such later date as may be agreed, in writing, between
the parties (being in any event no earlier than the date upon which the
Principal Shareholder(s) would, directly or indirectly through
Birchfield Holdings Limited, if required, subscribe for Rights Issue
Units pursuant to the Underwriting), this Agreement shall terminate and
be of no further effect.

			
		(b) 	Notwithstanding any other provision of
this Agreement, nothing in this Agreement shall require the Principal
Shareholders to abstain, or procure the abstention, from voting, for
the avoidance of doubt in their capacity as Shareholders in the Company
only, the Stock Units attributable to the Holding in respect of the
resolutions (other than the resolution to be passed by Independent
Shareholders (as that term is defined in the Circular convening such
meeting) as required by the Irish Takeover Panel) to be proposed at an
Extraordinary General Meeting of the Company proposed to be held on 20
June 2005 provided always that the Principal Shareholders will comply
with the provisions of Chapter 11 of the Listing Rules and will so
demonstrate to the satisfaction of the Irish Stock Exchange and the
UKLA as required, prior to taking any action in accordance with this
Clause
2(b).

		
	3. 	Undertakings

		
	 	Each
of the Principal Shareholders hereby severally undertakes to the
Company, from the time when either of them becomes a Controlling
Shareholder pursuant to the Rights Issue,
that:

			
		(a) 	he shall exercise, or procure
the exercise of, the voting rights in the Company attributable to his
Holding so as to ensure that the Company and/or the Group is capable at
all times of carrying on its business independently of him and/or his
Associates;

5

			
		(b) 	all
transactions and relationships between him and/or any entity interested
in his Holding and/or his Associates and the Group are conducted at
arm's length and on a basis which is at least as beneficial to
the Company as a normal commercial basis;

			
		(c) 	he will abstain, or procure the
abstention, from voting the Stock Units attributable to his Holding in
general meetings of the Company in respect of any contract or
arrangement in which, in the reasonable opinion of the Independent
Board, he has a material interest;

			
		(d) 	he will not exercise, or procure the
exercise of, the voting rights in the Company attributable to his
Holding in favour of any amendment to the Articles which would be
inconsistent with, or in violation of, the terms of this Agreement;
and

			
		(e) 	he will procure that, within
seven days of becoming aware of a significant acquisition opportunity
of a non-publicly quoted company in the luxury crystal and ceramics
businesses, the Company will be provided with notice of that investment
opportunity and he and his Associates will not pursue such acquisition
opportunity if within a period of five business days the Company
notifies him of its intention to take up such acquisition
opportunity.

		
	4. 	Director Conflicts

		
	 	Each of the Principal Shareholders and the
Company hereby severally undertakes to use all reasonable endeavours to
procure that during the term of this
Agreement:

			
		(a) 	in respect of any Board
resolution relating to any transaction between any member of the Group
and a Principal Shareholder, no member of the Board may exercise a vote
if he/she:

			
		(i) 	is a Current
Relationship Director connected with that Principal
Shareholder;

			
		(ii) 	is connected to that
Principal Shareholder within the meaning of Section 26 of the Companies
Act 1990 (as amended by Section 76 of the Company Law Enforcement Act
2001); or

			
		(iii) 	has a significant and
direct business relationship with that Principal Shareholder which, in
the reasonable opinion of the Independent Board (excluding those
members who fall within sub-paragraph (i) or (ii) and the director who
has such relationship), would materially interfere with the exercise by
him/her of independent judgement on such matter; and

			
		(b) 	the requirements of the Listing Rules
(if any) in respect of Controlling Shareholders, insofar as they relate
to him as Principal Shareholder, are complied
with.

		
	5. 	Enforcement

		
	 	Each of the Principal Shareholders and the
Company agree severally that, if at any time hereafter it proves
necessary to enforce any of the provisions of this Agreement, the
decision as to any such enforcement shall be taken at a meeting of the
Board (or a committee of the Board) comprised solely, in either case,
of Independent
Directors.

		
	6. 	Termination

			
		(a) 	The
provisions of this Agreement shall terminate, without the need for any
further or other action:

			
		(i) 	in
relation to a Principal Shareholder, if he ceases to be a Controlling
Shareholder; or

			
		(ii) 	if the Company
ceases to be admitted to the Official Lists of the Irish Stock Exchange
and the UKLA.

			
		(b) 	The Company shall be
entitled to terminate this Agreement
if:

			
		(i) 	at any time during the term of
this Agreement the Listing Rules are amended so as to obviate the
necessity for this Agreement; or

6

			
		(ii) 	it is in the
best interests of the Company to do so.

		
	7. 	Modification

		
	 	No
modification of any provision of this Agreement shall be binding unless
the same shall be evidenced in writing duly executed by or on behalf of
each of the parties
hereto.

		
	8. 	Severability

		
	 	If at any time any one or more of the provisions
of this Agreement or any part thereof is or becomes invalid, illegal or
unenforceable in any respect under any law, the validity, legality and
enforceability of the remaining provisions shall not in any way be
affected or impaired thereby and the parties agree that, in such
circumstances, full effect shall be given to such provision in the
reduced or amended form.

		
	9. 	Counterparts

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

		
	10. 	Construction

			
		(a) 	Any
reference to any provision of any legislation shall include any
modification, re-enactment or extension thereof. Any reference to any
provision of any legislation shall be a reference to legislation of the
Republic of Ireland unless the context clearly indicates the
contrary.

			
		(b) 	Words such as
"hereunder",
"hereto", "hereof"
and "herein" and other words commencing with
"here" shall, unless the context clearly
indicates to the contrary, refer to the whole of this Agreement and not
to any particular clause or paragraph
thereof.

			
		(c) 	Save as otherwise provided
herein, any reference to a clause, paragraph or sub-paragraph shall be
a reference to a clause, paragraph or sub-paragraph, as the case may
be, of this Agreement and any reference in a clause or paragraph to a
paragraph or sub-paragraph shall be a reference to a paragraph or
sub-paragraph of the clause or paragraph in which the reference is
contained, unless it appears from the context that a reference to some
other provision is intended.

			
		(d) 	Except
where the context otherwise requires, words denoting the singular
include the plural and vice versa, words denoting any one gender
include all genders and words denoting persons include corporations and
vice versa.

		
	11. 	Captions

		
	 	The captions to the clauses of this Agreement
are inserted for convenience of reference only and shall not be
considered a part of or affect the construction or interpretation of
this Agreement.

		
	12. 	Governing Law

		
	 	This Agreement shall in all respects (including
the formation thereof and performance thereunder) be governed by and
construed in accordance with the laws of
Ireland.

		
	13. 	Notice

			
		(a) 	Any
notice or other communication required or permitted to be given or made
hereunder to a party hereto shall be delivered or sent by letter to the
address listed after his or its name herein or to such other address as
such party hereto may from time to time notify to the other parties
hereto in writing in accordance with the provisions
hereof.

7

			
		(b) 	Any notice or
other communication required or permitted to be given or made hereunder
shall be validly given or made if delivered personally or despatched by
prepaid internationally recognised courier service or by prepaid letter
post (airmail, if to an address outside the country of the sender)
addressed as aforesaid and shall be deemed to be given or
made:

			
		(i) 	if delivered by hand or by
courier - at the time of delivery;
or

			
		(ii) 	if sent by post – one
hundred and twenty hours after the same shall have been
posted.

		
	14. 	Conflict or Inconsistency

		
	 	In the case of any conflict or inconsistency
between the provisions of this Agreement and the provisions of the
Articles, the provisions of this Agreement shall prevail.

IN WITNESS WHEREOF this Agreement has been entered into the
day and year first herein written.

							
	SIGNED,
SEALED AND DELIVERED
 by the said SIR ANTHONY O'REILLY
in
the presence
of:		    

Tim
J. Scanlon                        

 Duly
authorised Attorney for
Sir Anthony O'Reilly
	Éanna Mellett
Solicitor
30 Herbert
Street
Dublin 2		    

Éanna
Mellet                           

Witness
	SIGNED, SEALED AND DELIVERED
 by the said MR. PETER JOHN
GOULANDRIS
in the presence of:		    

Tim J.
Scanlon                        

Duly
authorised Attorney for
 Peter John Goulandris
	Éanna Mellett
Solicitor
30 Herbert
Street
Dublin 2		    

Éanna
Mellett                           

Witness
	PRESENT when the common seal of WATERFORD WEDGWOOD PLC
was
affixed hereto:		    

Redmond
O'Donoghue           

Director
	 		Patrick
Dowling                       

Director/Secretary
	

WF-433614-v7:exv

8Exhibit
4.11

THE LAW SOCIETY OF
IRELAND

GENERAL CONDITIONS OF SALE (2001 EDITION)

WILLIAM FRY
 Solicitors
 Fitzwilton
House
 Wilton Place
 Dublin 2

002542.0206.KLS

THE LAW SOCIETY OF IRELAND

GENERAL CONDITIONS OF SALE (2001 EDITION)

PARTICULARS

and

CONDITIONS OF SALE

of

Lands comprised in Folios 23844F (part), 5572F, 2319F,

5146F, County Waterford

SALE BY PRIVATE TREATY

		
	Vendor's
Solicitors: 	William Fry

		
	Address: 	Fitzwilton House
 Wilton
Place
 Dublin 2

		
	Reference: 	002542.0206.KLS

Warning: It is recommended that the within should not be completed
without prior legal advice.

2

MEMORANDUM OF AGREEMENT is made on 24 May
2005

BETWEEN

WATERFORD CRYSTAL LIMITED
 having its
registered office at

		
	PPS
Number 	("Vendor")

And PARKER GREEN (CARLOW) LIMITED
 having its registered office
at

		
	PPS Number
 	("Purchaser")

whereby it is agreed that the Vendor shall sell and the Purchaser
shall purchase in accordance with the annexed Special and General
Conditions of Sale the property described in the within Particulars at
the Purchase Price mentioned below.

			
	Purchase
Price 	€6,728,050.00
	Closing Date: See Special Conditions

			
	Less
Deposit 	€4,499,000.00	Interest
Rate: 10 per cent per annum

		
	Balance 	€2,229,050.00

							
	SIGNED:
Redmond O'Donoghue

 For and on behalf of
the Vendor		SIGNED:  W G
O'Hare         (Director)

Margaret
O'Hare (Director)

Purchaser
	Witness  Karen
Sheil                      		Witness
  John
Woods                            
	Occupation
  Solicitor                    		Occupation
  Solicitor                                   
	Address
  Fitzwilton
House           

Wilton Place, Dublin 2		Address
  Dundalk                                   
	

As
Stakeholder I/We acknowledge receipt of Bank Draft/Cheque for
             in respect of deposit.

Signed:
                                                                               

3

PARTICULARS AND TENURE

ALL THAT AND
THOSE lands at Ballybeg, Ballynaneashagh and Kill, County Waterford
being all of the lands comprised in Folios 5572F, 2319F and 5146F of
the Register of Freeholders County Waterford and part of the lands
comprised in Folio 23844F of the Register of Freeholders County
Waterford as more particularly delineated (for identification purposes
only) on the map annexed hereto and thereon edged in
red.

4

DOCUMENTS
SCHEDULE

		
	1. 	Certified copy Folio 23844F
County Waterford with File Plan
annexed.

		
	2. 	Certified copy Folio 5572F
County Waterford with File Plan
annexed.

		
	3. 	Certified copy Folio 2319F
County Waterford with File Plan
annexed.

		
	4. 	Certified copy Folio 5146F
County Waterford with File Plan annexed together with Land
Certificate.

		
	5. 	Land Registry certified
copy Instrument No. D2002CK006869A together with certified copy Land
Registry transfer dated 12 April
2002.

		
	6. 	Land Registry certified copy
Instrument No. P2977/97 together with certified copy Grant of Wayleave
dated 8 May 1996.

		
	7. 	Land Registry
certified copy Instrument No. P5408/96 together with copy Grant of
Wayleave dated 15 January 1996.

		
	8. 	Land
Registry certified copy Instrument No. C2004CK005303K (1745 16 October
1968).

		
	9. 	Copy Licence 20 January 1982
between (1) Waterford Crystal Limited and (2) the Trustees of the
Waterford Glass Social and Sports
Club.

		
	10. 	Copy Licence 1 January 1998
between (1) Waterford Crystal Limited and (2) Waterford Institute of
Technology.

		
	11. 	Copy Development
Agreement 1 January 1998 between (1) Waterford Crystal Limited and (2)
the Development Committee, Waterford Institute of
Technology.

		
	12. 	Original stamped Deed of
Rectification dated 20 August 1991 between (1) Waterford Wedgwood plc
and (2) Waterford Crystal
Limited.

		
	13. 	Certified copy Deed of
Release dated 19 June 1995 between (1) National Westminster Bank plc,
(2) Kilsallaghan Holdings and (3) the parties listed in the First
Schedule thereto.

		
	14. 	Copy letter dated
10 August 2004 from Waterford City Council (re roads and
services).

		
	15. 	Copy Certificate of
Incorporation and Memorandum and Articles of Association of Waterford
Crystal Limited.

		
	16. 	Keller
Correspondence:

			
		(a) 	Copy letter dated
15 April 2005 from M.W. Keller & Son to Frank Hickey of Waterford
Crystal;

			
		(b) 	Copy letter dated 15 April
2005 from M.W. Keller & Son to Waterford City
Council;

			
		(c) 	Copy Waterford City
Council Planning Notice;

			
		(d) 	Copy
letter dated 25 April 2005 from Waterford City Council to Waterford
Crystal Limited;

			
		(e) 	Copy letter dated
27 April 2005 from Waterford City Council to Waterford Crystal Limited
together with copy variation of the Development Plan referred to.

SEARCHES SCHEDULE

None.

5

SPECIAL
CONDITIONS

		
	1. 	Save where the context
otherwise requires or implies or the text hereof expresses to the
contrary, the definitions and provisions as to interpretation set forth
in the within General Conditions shall be applied for the purposes of
these Special Conditions.

		
	2. 	The said
General Conditions shall:-

			
		(a) 	apply to
the sale in so far as the same are not hereby altered or varied, and
these Special Conditions shall prevail in case of any conflict between
them and the General Conditions;

			
		(b) 	be
read and construed without regard to any amendment therein, unless such
amendment shall be referred to specifically in these Special
Conditions.

		
	3. 	In addition to the
Purchase Price, the Purchaser shall pay to the Vendor an amount
equivalent to such Value Added Tax as shall be exigible in relation to
the sale or (as the case may be) the Assurance, same to be calculated
in accordance with the provisions of the Valued Added Tax Act, 1972 and
to be paid on completion of the sale or forthwith upon receipt by the
Purchaser of an appropriate invoice (whichever shall be the
later).

		
	4. 	Title

			
		(a) 	Title
to the Subject Property shall consist of official certified copy Folios
and File Plans of Folios 23844F (part), 5572F, 2319F and 5146F of the
Register of Freeholders County Waterford together with the original
Land Certificate to Folio 5146F County
Waterford.

			
		(b) 	The Vendor is selling
the Subject Property as the registered owner save in the case of Folio
5572F County Waterford wherein it will sell the property comprised in
this Folio as the party entitled to be registered as full owner. The
Purchaser is referred to the original stamped Deed of Rectification
dated 20 August 1991 referred to at No. 15 of the Documents Schedule
hereto, wherein Folio 5572F County Waterford was to be transferred to
the Vendor with other property but it would appear that this Folio was
neglected to be included in that transfer hence necessitating the
execution of a Deed of Rectification. The Deed of Rectification will be
lodged in the Land Registry on or prior to completion and a dealing
number obtained for reciting in the Purchaser's Deed of
assurance. The Vendor will furnish an undertaking on completion to deal
with all Land Registry Queries in relation to such dealing number. No
objection, requisition or enquiry will be raised by the Purchaser in
relation to this
matter.

		
	5. 	Burdens

			
		(a) 	There
are a number of burdens affecting the Subject Property which are
clearly set out as burdens in each Folio (as applicable) and in the
Instruments listed at Nos 5 – 8 inclusive of the Documents
Schedule hereto. The Subject Property is being sold subject to and with
the benefit of these burdens.

			
		(b) 	In
addition the Purchaser is referred to the restrictive covenant
identified at burden No. 3 of Folio 11795 (re use and building). As can
be seen from this entry on the Folio, this restrictive covenant was
granted for the benefit of the registered owner of the property
comprised in Folio 9870, a part of which is being sold to the
Purchaser. The Vendor is the registered owner of the entirety of Folio
9870 and if required by the Purchaser will produce a discharge/waiver
of this restrictive covenant on or prior to completion duly executed by
the Vendor and it will be the Purchaser's responsibility to
register this discharge/waiver in the Land Registry. No further
objection, requisition or enquiry will be raised by the Purchaser in
relation thereto.

			
		(c) 	In addition to
the burdens identified in the Folios comprising the Subject Property,
an ESB underground cable runs through the Subject Property and an ESB
pole is situated thereon. A Bord Gáis pipe also runs along the
boundary between that part of Folio 9870 County Waterford being
retained by the Vendor and the Subject Property. The Vendor has no
further information or documentation in its possession in relation to
the ESB cable/Bord Gáis pipe and no further objection,
requisition or enquiry will be raised by the Purchaser in relation
thereto.

6

			
		(d) 	In addition
to the burdens identified above, the Subject Property is subject to the
Licence set out at No 10 of the Documents Schedule hereto. The
Purchaser will note the expired Licence set out at No. 9 of the
Documents Schedule hereto. The parties identified in the Licences
together with a number of other groups have, from time to time, used
the Subject Property or part thereof for recreational purposes. The
Vendor will procure the termination of all the Licences still in
existence and the interest (if any) enjoyed by the said groups on or
prior to the Closing Date. The Purchaser is also referred to the
Development Agreement set out at No. 11 of the Documents Schedule
hereto. It will be the Vendor's sole responsibility to ensure
that it complies with the terms thereof upon receipt of the proceeds of
sale from the
Purchaser.

		
	6. 	Mortgage

The
property being sold under this Contract, together with other property,
is at present subject to a mortgage (the "Wachovia
Charge") in favour of Wachovia Bank, National Association.
On the Closing Date, the Purchaser will accept
either:-

			
		(a) 	a partial release in
respect of the Wachovia Charge for the Subject Property together with
registration fees payable thereon;
or

			
		(b) 	an undertaking from the
Vendor's solicitors to discharge part of the Wachovia Charge from
the proceeds of sale and to furnish a partial release together with
registration fees thereon as soon as possible
thereafter.

		
	7. 	Kilsallaghan
Charge

The Purchaser is referred to the certified copy
Deed of Release dated 19 June 1995 of a charge (the
"Kilsallaghan Charge") listed at No. 13 of
the Documents Schedule hereto. As is apparent from the Deed of Release,
the Kilsallaghan Charge has been released in respect of all Folios
comprised in the Subject Property which is also clearly evidenced by
the deletion of this burden at Part 3 of each Folio, as appropriate.
The land certificate for Folio 5146F County Waterford, continues to
indicate this charge, despite its release. The land certificate for
this Folio will be updated on or prior to completion to reflect the
correct status of this charge, as evident from the Folio for the land
certificate.

		
	8. 	Purchase Price
and Release of Deposit

The Purchase Price, of Six
Million, Seven Hundred and Twenty Eight Thousand and Fifty Euro
(€6,728,050), shall be paid as
follows:-

			
		(a) 	On the execution of this
Contract the sum of Six Hundred and Seventy Two Thousand, Eight Hundred
and Five Euro (€672,805) shall be paid by the Purchaser to
the Vendor's solicitor, by way of deposit (the
"First Instalment"), in part payment of the
Purchase Price.

The balance of the sum of Six Million,
Fifty Five Thousand, Two Hundred and Forty Five Euro
(€6,055,245) shall be paid in two tranches as
follows:-

			
		(b) 	€3,826,195
(the "Second Instalment") to be paid
immediately on compliance by the Vendor with Special Condition 8(d);
and

			
		(c) 	€2,229,050 (the
"Final Instalment") to be paid on the Closing
Date specified in Special Condition 9.

The First
Instalment and the Second Instalment are, where the context so admits
or requires, hereinafter collectively referred to as the
"Deposit".

			
		(d) 	The
First Instalment shall be held by the Vendor's solicitors as
stakeholder until the Vendor's solicitors furnish to the
Purchaser's solicitors a Bank Guarantee drawn on Anglo Irish Bank
Corporation plc in favour of the Purchaser for an amount equal to the
Deposit, such Guarantee to be in a form reasonably satisfactory to the
Purchaser (the "Guarantee"). On furnishing
the Guarantee to the Purchaser's solicitors the Vendor's
solicitors will receive the Second Instalment and will pay over the
Deposit to the Vendor for its own use and benefit. If the Deposit is
released to the Vendor, the Vendor shall be liable for the cost of
funds calculated 

7

			
		 	
at a reasonable rate to the Purchaser on the
Second Instalment only from the date such monies are paid to the
Vendor's solicitors up to the Closing Date. General Conditions 5,
37(a), 38 and 41 are modified accordingly. Upon the Closing Date and
payment of the Final Instalment to the Vendor, the Guarantee will
automatically cease to be of any further force or effect
whatsoever.

			
		(e) 	If there is any delay
in the Purchaser paying the purchase monies or any part thereof on the
due date or dates as set out above the Purchaser shall pay interest to
the Vendor on the balance outstanding from the due date up to the date
of actual payment thereof at the interest rate stipulated in the
Memorandum of the within Agreement. Such interest shall accrue from day
to day and shall be payable before and after any
Judgement.

			
		(f) 	If any date specified
for payment of purchase monies hereunder is not a working day as
defined in General Condition 2 the date or dates in question shall be
the first working day
thereafter.

		
	9. 	Condition
Subsequent and Closing Date

			
		(a) 	It is a
condition subsequent (the "Condition
Subsequent") to this Contract that the Subject Property
retain its designation as a mixed use area, including retail
warehousing, in accordance with the decision of Waterford City Council
of 18 April 2005 (the "Variation Decision")
until satisfaction of the Condition Subsequent in accordance with
Special Condition 9(b) hereunder or recission of the Contract pursuant
to Special Condition 9(c).

			
		(b) 	The
Condition Subsequent will be deemed to be satisfied and either
party's right of rescission under Special Condition 9(c) will be
at an end upon the occurrence of any of the
following:-

			
		(i) 	On 17 October 2005 if
no judicial review proceedings to review the Variation Decision have
been initiated by any third party by that date;
or

			
		(ii) 	Upon the expiry of 21 days from
the date of passing and perfecting of the High Court judgment or order
upholding the Variation Decision if judicial review proceedings to
review the Variation Decision have been initiated by a third party
prior to 17 October 2005; or

			
		(iii) 	Upon
delivery by the Supreme Court of its judgment upholding the Variation
Decision if judicial review proceedings to review the Variation
Decision have been initiated in the High Court as set out above and
either:-

			
		A. 	the High Court has upheld
the Variation Decision and the third party has appealed to the Supreme
Court; or

			
		B. 	the High Court has
overturned the Variation Decision and the Vendor and/or Waterford City
Council has appealed to the Supreme Court ;
or

			
		(iv) 	Upon the date Waterford City
Council re-designates the Subject Property so that it is situate in a
mixed use area, including retail warehousing following either delivery
by the Supreme Court of its judgment overturning the Variation Decision
or upon the date of passing and perfecting of the High Court judgment
overturning the Variation
Decision.

			
		(c) 	If the Variation Decision
is reversed or overturned following final determination of any judicial
review proceedings to review the Variation Decision (including the
determination of any appeals) and/or Waterford City Council fail to
ensure that the Subject Property will be or will remain situate in a
mixed use area, including retail warehousing THEN either party may
immediately rescind the Sale and terminate this Contract by service of
notice in writing to that effect on the other WHEREUPON the Purchaser
will be entitled to the return of the Deposit in accordance with
Special Condition 8(d) and the Final Instalment and the Vendor will be
entitled to a return of all completion documents and title furnished to
the Purchaser on or prior to the Closing Date PROVIDED ALWAYS that if
the judicial review proceedings of the Variation Decision have not been
finally determined in accordance with any one of the grounds specified
in Special Condition 9(b)(i)-(iv) inclusive by either (1) 14 June 2006
the Vendor may at its option immediately rescind the Sale and terminate
the Contract with the same effect as herein specified; or (2) 14 June
2007 either party may immediately rescind the Sale and terminate the
Contract with the same effect as herein specified.

8

If the Contract is rescinded in
accordance with Special Condition 9(c), the Vendor shall be liable for
the reasonable cost of funds calculated at a reasonable rate to the
Purchaser on the Deposit and Final Instalment from the date of passing
and perfecting of the High Court judgment or order overturning the
Variation Decision or from the date the third party has appealed the
upholding of the Variation Decision by the High Court to the Supreme
Court, whichever is applicable, until the date of
recission.

For the avoidance of doubt save as outlined in
Special Condition 9(c), the Purchaser will be entitled to a return of
the Deposit and Final Instalment without interest, costs or
compensation thereon.

			
		(d) 	No deed of
assurance of the Subject Property will be delivered to the Purchaser or
its nominees on the Closing Date UNTIL the Condition Subsequent has
been satisfied and the right of recission set out in this Contract is
at an end on foot of any one of the grounds specified in Special
Condition 9(b).

			
		(e) 	Notwithstanding
anything to the contrary in this Contract, the Closing Date shall be 14
June 2005 or such later date as may be specified by the Vendor provided
that such date shall be no later than 31 August 2005 whereupon the
Final Instalment will be paid to the Vendor and completion shall occur
save that no deed of assurance of the Subject Property will be
delivered to the Purchaser or its nominee(s) until satisfaction of the
Condition Subsequent and the right of recission set out in this
Contract is at an end in accordance with Special Condition
9(b).

			
		(f) 	The Purchaser's
attention is drawn to the correspondence exhibited at Nos 16(a) –
(e) inclusive of the Documents Schedule (the "Keller
Correspondence"). The Purchaser will purchase the Subject
Property in the full knowledge of the existence of the Keller
Correspondence. If any judicial review proceedings to review the
Variation Decision are initiated on or prior to the Closing Date
whether on foot of the Keller Correspondence or otherwise, such
institution of judicial review proceedings will not delay payment of
the Final Instalment to the
Vendor.

			
		(g) 	Whether the judicial review
proceedings envisaged by this Special Condition are issued against
either the Purchaser or the Vendor or both as a notice party, both
parties to this Contract hereby agree to work together and co-operate
with the other in vigorously pursuing the defence of any judicial
review proceedings initiated by any party prior to 17 October 2005 to
review the Variation Decision whether on appeal or otherwise and/or in
bringing any appeal before the Supreme Court if the Variation Decision
is overturned.

		
	10. 	Shareholder
Approval

If Waterford Wedgwood plc determines that the
approval of its shareholders is required to the completion of the sale
of the Subject Property under the terms of Chapter 10 of the Listing
Rules of the UK Financial Services Authority and/or the Listing Rules
of the Irish Stock Exchange or otherwise, completion of the sale of the
Subject Property shall not occur without the receipt of such approval
at a duly convened meeting of the shareholders of such
company.

		
	11. 	Option

On
the Closing Date, both parties hereto will execute an option deed
containing an option (the "Option") in favour
of the Purchaser for a nominal consideration of €10
whereby the Purchaser will have an option for the term of 10 years from
the signing of Contracts to purchase the remainder of the Waterford
Crystal Sports and Leisure Centre together with the car park or part
thereof (being the remainder of the property comprised in Folio 9870
County Waterford) (the "Remainder Lands") at
Open Market Value, subject to the easements, burdens and/or rights (if
any) then affecting the Remainder Lands, if placed on the open market
by the Vendor.

For the purposes of the Option, the Term
"Open Market Value" shall mean the price that
a willing purchaser would be prepared to pay and a willing vendor would
be prepared to accept for the Remainder Lands as at the date when the
Remainder Lands are placed on the open market by the Vendor. The Option
Deed will be in a format as determined by the Vendor's solicitor,
provided the Option Deed provides for the matters set out in Special
Condition 11.

9

		
	12. 	Land
Certificates

Of the Folios comprising the Subject
Property, the following is the position in relation to the
issue/non-issue (as appropriate) of the land certificate for each
folio:-

				
		(a) 	Folio 23844F
	land certificate not
issued.

(Part)

				
		(b) 	Folio
5572F	land certificate not
issued.

				
		(c) 	Folio 2319F
	land certificate not
issued.

				
		(d) 	Folio
5146F	land certificate issued.

Where
the land certificate has not issued for a folio, the Vendor will
bespeak the land certificate and furnish same to the Purchaser on the
Closing Date. In the absence of the Land Certificate on the Closing
Date, the Vendor's solicitors will furnish a letter of
undertaking to the Purchaser's solicitors to forward same upon
receipt from the Land Registry. Where the land certificate has already
issued for a folio, the original land certificate will be handed over
on completion. Where a land certificate is retained in the Land
Registry (if applicable), a letter of consent to use together with
authorisation and direction addressed to the Land Registry authorising
and directing the Land Registry to retain the land certificate to the
order of the Purchaser upon completion will be furnished save where
part only of a Folio is being sold whereupon a letter of consent to use
only will be furnished on completion, if
relevant.

		
	13. 	Roads and
Services

The Purchaser is furnished with a copy letter
dated 10 August 2004 from Waterford City Council as evidence that the
roads and services abutting the Subject Property are in charge of the
Local Authority. The Purchaser will accept a copy only of this letter
and will not raise any objection, requisition or enquiry in relation
thereto.

		
	14. 	Deed of Assurance
– Easements and Other Rights

The Deed of Assurance
of the Subject Property from the Vendor to the Purchaser shall
incorporate reservations for the Retained Lands for the
following:-

			
		(a) 	The free and
uninterrupted passage and running of the services (i.e. water, soil,
gas, air, electricity, telephone transmissions, radio transmissions,
television transmissions, oil, heating fuels and other services serving
the Retained Lands) to and from the Retained Lands through the
utilities (i.e. all channels, conduits, pipes, drains, watercourses,
ditches, gutters, sewers, wires, mains, cables and other conducting
media for the services including (but without prejudice to the
generality of the foregoing) lighting installations) which are now or
may at any time within the Perpetuity Period (to be determined by the
Vendor) be in under or passing through the Subject
Property.

			
		(b) 	The right (without being
obliged to do so) to connect up with and inspect cleanse repair and
renew the utilities which now are or may at any time within the
Perpetuity Period be in under over or passing through the Subject
Property AND for the aforementioned purposes to enter upon the Subject
Property with workman and others and all necessary equipment making
good any damage thereby occasioned by not being responsible for any
temporary inconvenience being caused by such
works.

			
		(c) 	The free and uninterrupted
passage and running of soil/effluent and water to and from the Retained
Lands through the pipeline/watermains in under over or passing through
the Subject Property shown coloured [    ] on the map
annexed hereto together with the right at all times to enter upon the
Subject Property and open up the said pipes or watermains or associated
manhole(s) for the purpose of inspecting, repairing and replacing same
and making connections thereto making good any damage thereby
occasioned but not being responsible for any temporary inconvenience
caused by any such works.

The Deed of Assurance will be
executed in duplicate and the original counterpart thereof returned to
the Vendor duly stamped within 30 days of completion. In addition, the
Purchaser's solicitor will 

10

provide a letter of undertaking to this
effect which will also include an obligation on the Purchaser's
solicitor to lodge the original deed of assurance in the Land Registry
immediately following stamping and to produce up to date copy Folio(s)
and File Plan(s) of the Subject Property, as soon as the Land Registry
have registered the Purchaser's title thereto, showing these
easements registered as burdens
thereon.

		
	15. 	Post completion
Works

The Purchaser hereby grants to the Vendor, its
servants and agents the right to access and enter upon the Subject
Property with or without machinery/vehicles for the period of three
months from the Closing Date at reasonable mutually convenient times
for the purpose of removing lighting masts, goal posts and ancillary
items, making good all damage thereby occasioned but not being
responsible for any temporary inconvenience caused by such
works.

		
	16. 	Condition of
Property

The Purchaser shall be deemed to buy with full
notice of the actual state and condition of the Subject Property and
shall take it as it stands and subject to all rights of way, water,
light, drainage and other easements, rights and privileges and
liabilities and to all rents and outgoings mentioned in the Particulars
or any Special
Conditions.

		
	17. 	Planning

Save
as disclosed herein there are no buildings or other structures on the
Subject Property and no planning permissions granted to the Vendor in
respect thereof have been acted upon insofar as same relate to the
Subject Property. The Purchaser shall raise no objection, requisition
or enquiry in respect of any planning matters and General Condition 36
is hereby deleted in its entirety. The Purchaser shall raise no
objection, requisition or enquiry in relation to any matter or thing
relating to Local Government (Planning and Development) Act, 1963, the
Planning and Development Acts, 2000 to 2002 the Building Control Act,
1990, Planning and Development Regulations, 2001, the Building
Bye-Laws, the Fire Services Act, 1981 or the Safety, Health and Welfare
at Work (Construction) Regulations, 1995 or any regulations or orders
made thereunder including (but not limited to) any works carried out to
the Subject Property by the
Vendor.

		
	18. 	Identity

The
Purchaser shall satisfy itself with regard to the exact area of the
Subject Property and the boundaries thereof and the routes of the
existing burdens/easements/rights of way affecting the Subject
Property. Maps annexed to the Contract shall be deemed to be annexed
for identification purposes only.

No objection,
requisition or enquiry shall be raised in relation to discrepancies (if
any) which may arise between the file plan, relevant deed or Land
Registry instrument and/or the boundaries or lay out of the property on
the ground.

The words "or which are likely
to affect it" appearing on the last line of General
Condition 15 are hereby deleted and replaced with the words
"of which the Vendor is aware will affect the
Property".

		
	19. 	Environmental

The
Vendor will furnish a declaration on the Closing Date confirming the
Vendor has not been in breach of environmental laws and save for the
Vendor's obligation to reply to Requisition 31 (Environmental) of
the Law Society's Objections and Requisitions on Title (if not
already replied to at the date of this Contract) no further objection,
requisition or enquiry shall be raised or made by the Purchaser in
relation to same.

		
	20. 	Entire
Agreement

The Purchaser hereby acknowledges that this
Agreement and the documents referred to in the Documents Schedule
constitute the entire agreement between the parties and the Purchaser
hereby acknowledges that the Purchaser has not entered into this
Agreement in reliance on any other warranty or representation whether
oral or in writing.

11

The Purchaser agrees and accepts
that no statement, measurement quantity or description contained in any
newspaper or advertisement published by the Vendor or by the
Vendor's Agents, O'Shea O'Toole & Partners (the
"Agent"), or given orally or contained in any
brochure, letter or hand-out issued by the Vendor or by the Agent in
respect of the Subject Property (whether or not in the course of any
representation or negotiations leading to the sale) shall constitute a
representation inducing the Purchaser to enter into the sale or any
warranty forming part of this Agreement and that any statement,
description, quantity or measurement contained in any such
advertisement, brochure or letter given by the Vendor or on its behalf
by the Agent are for illustration purposes only and are not to be taken
as matters of fact and that any mistake, omission, discrepancy,
inaccuracy, mis-statement, mis-description or incorrect measurement
given orally or in the form of any advertisement, brochure or letter by
the Vendor or by the Agent (whether or not in the course of any
representation or negotiations leading to the sale) shall not give rise
to any cause of action, claim for compensation against the Vendor or
the Agent or any right of rescission under this Agreement and it is
further agreed that this Agreement contains the entire terms and
conditions of the agreement between the parties hereto. The Law
Society's General Condition 33 shall be read subject to this
condition.

		
	21. 	Survival of
Provisions

Unless otherwise specified herein, all such
terms and conditions of this Agreement as are designed or are capable
of surviving completion of the sale shall survive such completion and
shall not merge in or become extinguished in any subsequent assurance
of the Property or any part
thereof.

		
	22. 	Sub-Sale

On
payment of the entire of the purchase monies on the Closing Date, the
transaction shall at the option of the Purchaser proceed by way of
sub-sale of all or part of the Subject Property and the Vendor will
execute deeds of assurance as required to enable the transaction to be
completed in this manner PROVIDED that the Vendor is notified in
sufficient time of the identity of the Purchaser's nominee(s) and
number of deeds of assurance to comply with the Listing Rules of the UK
Financial Services Authority and/or the Listing Rules of the Irish
Stock Exchange or otherwise AND PROVIDED also that the Purchaser
confirms that such identity may be disclosed in any announcement
required by the Listing Rules of the UK Financial Services Authority or
otherwise AND PROVIDED ALWAYS that no such deed(s) of assurance will be
delivered until the Condition Subsequent in Special Condition 9(b) has
been satisfied. The Vendor will execute a Deed of Covenant in favour of
the Purchaser and its bank, Anglo Irish Bank Corporation plc on the
Closing Date in the terms of the draft annexed hereto in relation to
the execution of deeds of transfer/assurance of the Subject
Property.

12

NON-TITLE INFORMATION

Query
Reply (Please tick and/or insert comments as
appropriate)

																			
	 		 		Yes		No		Comments
	1.		SERVICES		 	 	 		 	 	 		 
	i.		How
is the Subject Property serviced as
to:		 	 	 		 	 	 		 
	 		(a)    drainage;		 	 	 		 	 	 		Inspection
will reveal.
	 		(b)    water
supply;		 	 	 		 	 	 		"
	 		(c)    electricity;		 	 	 		 	 	 		"
	 		(d)    gas;
and		 	 	 		 	 	 		"
	 		(e)    otherwise.		 	 	 		 	 	 		"
	ii.		Have
the services (including roads, lanes, footpaths, sewers and drains)
abutting or servicing the Subject Property been taken over by the Local
Authority,		 	 	 		 	 	 		See copy letter dated 10 August
2004 in the Documents Schedule
hereto.
	 		Will a
letter from the Local Authority or a solicitor's certificate to
vouch the position be furnished on or before
closing.		 	 	 		 	 	 		See copy letter dated 10 August 2004
in the Documents Schedule
hereto.
	 		If services
are not in charge, are there appropriate easements and indemnities in
existence.		 	 	 		 	 	 		Not
applicable
	iii.		Is
the Subject Property serviced
by:		 	 	 		 	 	 		 
	 		(a)    septic
tank;
or,		 	 	 		 	X	 		 
	 		(b)    private
drainage
scheme.		 	 	 		 	X	 		 
	iv.		Is
the Subject Property serviced for television and if so is it
by:		 	 	 		 	 	 		 
	 		(a)    Cable
T.V.;		 	 	 		 	X	 		Not applicable, this is a green
field site
	 		(b)    Satellite
Dish;		 	 	 		 	X	 		Not applicable, this is a green
field
site
	 		(c)    MMDF;		 	 	 		 	X	 		Not
applicable, this is a green field
site
	 		(d)    TV aerial owned by Vendor;
or		 	 	 		 	X	 		Not applicable, this is a green
field site
	 		(e)    TV aerial owned by
another.		 	 	 		 	X	 		Not applicable, this is a
green field site
	 		If
(b) or (d) applies, will it be included in the Purchase
Price.		 	 	 		 	 	 		 
	v.		Is
there a telephone line to be supplied with the Subject
Property.		 	 	 		 	X	 		Not applicable, this is a
green field
site
	vi.		Is there an
ISDN line to be supplied with the Subject
Property.		 	 	 		 	X	 		Not applicable, this is a
green field
site
	2.		CONTENTS		 	 	 		 	 	 		 
	i.		Are
there any contents included in the Purchase
Price.		 	 	 		 	X	 		Not applicable in its entirety
as this is a green field
site
	 		If so, give
Vendor's estimate of
value.		 	 	 		 	 	 		 
	

13

																			
	 		 		Yes		No		Comments
	ii.		Are
there any fixtures, fittings or chattels included in this Sale which
are the subject of any Lease, Rent, Hire Purchase Agreement or Chattel
Mortgage.		 	 	 		 	X	 		Not applicable in its
entirety as this is a green field
site
	 		If so, furnish
now the Agreement and on closing proof of payment to date or discharge
thereof.		 	 	 		 	 	 		Not applicable in its entirety as
this is a green field
site
	3.		OUTGOINGS		 	 	 		 	 	 		 
	i.		What
is the Rateable Valuation
of:		 	 	 		 	 	 		 
	 		(a)    Lands;		 	 	 		 	 	 		Nil
	 		(b)    Buildings.		 	 	 		 	 	 		Not
Applicable
	ii.		Give
particulars of any other periodic or annual charge which affects the
Subject Property or any part of it.		 	 	 		 	 	 		None to
Vendor's knowledge save as disclosed in the documents of
title.
	

14

THE
LAW SOCIETY OF IRELAND

GENERAL CONDITIONS OF SALE (2001
EDITION)

WILLIAM FRY
 Solicitors

Fitzwilton House
 Wilton Place
 Dublin 2

002542.0206.KLS

THE LAW SOCIETY OF IRELAND

GENERAL CONDITIONS OF SALE (2001 EDITION)

PARTICULARS

and

CONDITIONS OF SALE

of

Lands comprised in
Folios 23844F (part), 3672F, 11795
 and 9870 (part) County
Waterford

SALE BY PRIVATE TREATY

		
	Vendor's
Solicitors: 	William Fry

		
	Address: 	Fitzwilton House
 Wilton
Place
 Dublin 2

		
	Reference: 	002542.0206.KLS

Warning: It is recommended that the within should not be
completed without prior legal advice.

2

MEMORANDUM OF
AGREEMENT is made on 24 May 2005

BETWEEN

WATERFORD
CRYSTAL LIMITED
 having its registered office at

		
	PPS
Number 	("Vendor")

And PARKER GREEN (CARLOW) LIMITED
having its registered office
at

		
	PPS Number
 	("Purchaser")

whereby it is agreed that the Vendor shall sell and the Purchaser
shall purchase in accordance with the annexed Special and General
Conditions of Sale the property described in the within Particulars at
the Purchase Price mentioned below.

			
	Purchase
Price 	€26,171,950.00	Closing
Date: See Special Conditions

			
	Less
Deposit 	€17,501,000.00	Interest
Rate: 10 per cent per annum

		
	Balance 	€8,670,950.00

							
	SIGNED:  Redmond
O'Donoghue

For and on behalf of the
Vendor		SIGNED:  W G
O'Hare (Director)

Margaret O'Hare
(Director)

Purchaser
	Witness  Karen
Sheil                        		Witness  John
Woods                              
	Occupation
  Solicitor                               		Occupation  Solicitor                                      
	Address
  Fitzwilton
House               

Wilton Place, Dublin
2    		Address  Dundalk                                   
	

(For
Sale by Auction)

As Stakeholder I/We acknowledge receipt
of Bank Draft/Cheque for                      in respect of
deposit.

Signed:                                                                 

3

PARTICULARS AND TENURE

ALL
THAT AND THOSE lands at Ballybeg, Ballynaneashagh and Kill, County
Waterford being all of the lands comprised in Folios 3672F and 11795 of
the Register of Freeholders County Waterford and part of the lands
comprised in Folios 9870 and 23844F of the Register of Freeholders
County Waterford as more particularly delineated (for identification
purposes only) on the map annexed hereto and thereon edged in
red.

4

DOCUMENTS
SCHEDULE

		
	1. 	Certified copy Folio
23844F County Waterford with File Plan
annexed.

		
	2. 	Certified copy Folio 3672F
County Waterford with File Plan
annexed.

		
	3. 	Certified Copy Folio 11795
County Waterford with File Plan annexed together with Land
Certificate.

		
	4. 	Certified copy Folio
9870 County Waterford with File Plan annexed.

		
	5. 	Land Registry certified copy Instrument
No. D2002CK006869A together with certified copy Land Registry transfer
dated 12 April 2002.

		
	6. 	Land Registry
certified copy Instrument No. P2977/97 together with certified copy
Grant of Wayleave dated 8 May
1996.

		
	7. 	Land Registry certified copy
Instrument No. P5408/96 together with copy Grant of Wayleave dated 15
January 1996.

		
	8. 	Land Registry
certified copy Instrument No. C2004CK005303K (1745 16 October
1968).

		
	9. 	Copy Licence 20 January 1982
between (1) Waterford Crystal Limited and (2) the Trustees of the
Waterford Glass Social and Sports
Club.

		
	10. 	Copy Licence 1 January 1998
between (1) Waterford Crystal Limited and (2) Waterford Institute of
Technology.

		
	11. 	Copy Development
Agreement 1 January 1998 between (1) Waterford Crystal Limited and (2)
the Development Committee, Waterford Institute of
Technology.

		
	12. 	Certified copy Deed of
Release dated 19 June 1995 between (1) National Westminster Bank plc,
(2) Kilsallaghan Holdings and (3) the parties listed in the First
Schedule thereto.

		
	13. 	Copy letter dated
10 August 2004 from Waterford City Council (re roads and
services).

		
	14. 	Copy Certificate of
Incorporation and Memorandum and Articles of Association of Waterford
Crystal Limited.

		
	15. 	Keller
Correspondence:

			
		(a) 	Copy letter dated
15 April 2005 from M.W. Keller & Son to Frank Hickey of Waterford
Crystal;

			
		(b) 	Copy letter dated 15 April
2005 from M.W. Keller & Son to Waterford City
Council;

			
		(c) 	Copy Waterford City
Council Planning Notice;

			
		(d) 	Copy
letter dated 25 April 2005 from Waterford City Council to Waterford
Crystal Limited;

			
		(e) 	Copy letter dated
27 April 2005 from Waterford City Council to Waterford Crystal Limited
together with copy variation of the Development Plan referred to.

SEARCHES SCHEDULE

None.

5

SPECIAL
CONDITIONS

		
	1. 	Save where the context
otherwise requires or implies or the text hereof expresses to the
contrary, the definitions and provisions as to interpretation set forth
in the within General Conditions shall be applied for the purposes of
these Special Conditions.

		
	2. 	The said
General Conditions shall:

			
		(a) 	apply to
the sale in so far as the same are not hereby altered or varied, and
these Special Conditions shall prevail in case of any conflict between
them and the General Conditions;

			
		(b) 	be
read and construed without regard to any amendment therein, unless such
amendment shall be referred to specifically in these Special
Conditions.

		
	3. 	Title

Title to the Subject Property shall consist of official
certified copy Folios and File Plans of Folios 23844F (part), 3672F,
11795 and 9870 (part) of the Register of Freeholders County Waterford
together with the original Land Certificate to Folio 11795 County
Waterford.

		
	4. 	Burdens

			
		(a) 	There
are a number of burdens affecting the Subject Property which are
clearly set out as burdens in each Folio (as applicable) and in the
Instruments listed at Nos 5 – 8 inclusive of the Documents
Schedule hereto. The Subject Property is being sold subject to and with
the benefit of these burdens.

			
		(b) 	In
addition the Purchaser is referred to the restrictive covenant
identified at burden No. 3 of Folio 11795 (re use and building). As can
be seen from this entry on the Folio, this restrictive covenant was
granted for the benefit of the registered owner of the property
comprised in Folio 9870, a part of which is being sold to the
Purchaser. The Vendor is the registered owner of the entirety of Folio
9870 and if required by the Purchaser will produce a discharge/waiver
of this restrictive covenant on or prior to completion duly executed by
the Vendor and it will be the Purchaser's responsibility to
register this discharge/waiver in the Land Registry. No further
objection, requisition or enquiry will be raised by the Purchaser in
relation thereto.

			
		(c) 	In addition to
the burdens identified in the Folios comprising the Subject Property,
an ESB underground cable runs through the Subject Property and an ESB
pole is situated thereon. A Bord Gáis pipe also runs along the
boundary between that part of Folio 9870 County Waterford being
retained by the Vendor and the Subject Property. The Vendor has no
further information or documentation in its possession in relation to
the ESB cable/Bord Gáis pipe and no further objection,
requisition or enquiry will be raised by the Purchaser in relation
thereto.

			
		(d) 	In addition to the burdens
identified above, the Subject Property is subject to the Licence set
out at No 10 of the Documents Schedule hereto. The Purchaser will note
the expired Licence set at No. 9 of the Documents Schedule hereto. The
parties identified in these Licences together with a number of other
groups have, from time to time, used the Subject Property or part
thereof for recreational purposes. The Vendor will procure the
termination of all the Licences still in existence and the interest (if
any) enjoyed by the said groups on or prior to the Closing Date. The
Purchaser is also referred to the Development Agreement set out at No.
11 of the Documents Schedule hereto. It will be the Vendor's sole
responsibility to ensure that it complies with the terms thereof upon
receipt of the proceeds of sale from the
Purchaser.

6

		
	5. 	Mortgage

The property being sold under this Contract, together with
other property, is at present subject to a mortgage (the
"Wachovia Charge") in favour of Wachovia
Bank, National Association. On the Closing Date, the Purchaser will
accept either:-

			
		(a) 	a partial release
in respect of the Wachovia Charge for the Subject Property together
with registration fees payable thereon;
or

			
		(b) 	an undertaking from the
Vendor's solicitors to discharge part of the Wachovia Charge from
the proceeds of sale and to furnish a partial release together with
registration fees thereon as soon as possible thereafter.

		
	6. 	Kilsallaghan Charge

The Purchaser is referred to the certified copy Deed of
Release dated 19 June 1995 of a charge (the "Kilsallaghan
Charge") listed at No. 12 of the Documents Schedule
hereto. As is apparent from the Deed of Release, the Kilsallaghan
Charge has been released in respect of all Folios comprised in the
Subject Property which is also clearly evidenced by the deletion of
this burden at Part 3 of each Folio, as appropriate. The land
certificate for Folio 11795 County Waterford continues to indicate this
charge, despite its release. The land certificate for this Folio will
be updated on or prior to completion to reflect the correct status of
this charge, as evident from the Folio for the land
certificate.

		
	7. 	Purchase Price
and Release of Deposit

The Purchase Price, of Twenty Six
Million, One Hundred and Seventy One Thousand, Nine Hundred and Fifty
Euro (€26,171,950), shall be paid as
follows:-

			
		(a) 	On the execution of this
Contract the sum of Two Million, Six Hundred and Seventeen Thousand,
One Hundred and Ninety Five Euro (€2,617,195) shall be
paid by the Purchaser to the Vendor's solicitor, by way of
deposit (the "First Instalment"), in part
payment of the Purchase Price.

The balance of the sum of
Twenty Three Million, Five Hundred and Fifty Four Thousand, Seven
Hundred and Fifty Five Euro (€23,554,755) shall be paid in
two tranches as
follows:-

			
		(b) 	€14,883,805
(the "Second Instalment") to be paid
immediately on compliance by the Vendor with Special Condition 8(d);
and

			
		(c) 	€8,670,950 (the
"Final Instalment") to be paid on the Closing
Date specified in Special Condition 9.

The First
Instalment and the Second Instalment are, where the context so admits
or requires, hereinafter collectively referred to as the
"Deposit".

			
		(d) 	The
First Instalment shall be held by the Vendor's solicitors as
stakeholder until the Vendor's solicitors furnish to the
Purchaser's solicitors a Bank Guarantee drawn on Anglo Irish Bank
Corporation plc in favour of the Purchaser for an amount equal to the
Deposit, such Guarantee to be in a form reasonably satisfactory to the
Purchaser (the "Guarantee"). On furnishing
the Guarantee to the Purchaser's solicitors the Vendor's
solicitors will receive the Second Instalment and will pay over the
Deposit to the Vendor for its own use and benefit. If the Deposit is
released to the Vendor, the Vendor shall be liable for the cost of
funds calculated at a reasonable rate to the Purchaser on the Second
Instalment only from the date such monies are paid to the
Vendor's solicitors up to the Closing Date. General Conditions 5,
37(a), 38 and 41 are modified accordingly. Upon the Closing Date and
payment of the Final Instalment to the Vendor, the Guarantee will
automatically cease to be of any further force or effect
whatsoever.

			
		(e) 	If there is any delay
in the Purchaser paying the purchase monies or any part thereof on the
due date or dates as set out above the Purchaser shall pay interest to
the Vendor on the balance outstanding from the due date up to the date
of actual payment thereof at the interest rate stipulated in the
Memorandum of the within Agreement. Such interest shall accrue from day
to day and shall be payable before and after any
Judgement.

7

			
		(f) 	If any date
specified for payment of purchase monies hereunder is not a working day
as defined in General Condition 2 the date or dates in question shall
be the first working day
thereafter.

		
	8. 	Condition
Subsequent and Closing Date

			
		(a) 	It is a
condition subsequent (the "Condition
Subsequent") to this Contract that the Subject Property
retain its designation as a mixed use area, including retail
warehousing, in accordance with the decision of Waterford City Council
of 18 April 2005 (the "Variation Decision")
until satisfaction of the Condition Subsequent in accordance with
Special Condition 9(b) hereunder or recission of the Contract pursuant
to Special Condition 9(c).

			
		(b) 	The
Condition Subsequent will be deemed to be satisfied and either
party's right of rescission under Special Condition 9(c) will be
at an end upon the occurrence of any of the
following:-

			
		(i) 	On 17 October 2005 if
no judicial review proceedings to review the Variation Decision have
been initiated by any third party by that date;
or

			
		(ii) 	Upon the expiry of 21 days from
the date of passing and perfecting of the High Court judgment or order
upholding the Variation Decision if judicial review proceedings to
review the Variation Decision have been initiated by a third party
prior to 17 October 2005; or

			
		(iii) 	Upon
delivery by the Supreme Court of its judgment upholding the Variation
Decision if judicial review proceedings to review the Variation
Decision have been initiated in the High Court as set out above and
either:-

			
		A. 	the High Court has upheld
the Variation Decision and the third party has appealed to the Supreme
Court; or

			
		B. 	the High Court has
overturned the Variation Decision and the Vendor and/or Waterford City
Council has appealed to the Supreme Court;
or

			
		(iv) 	Upon the date Waterford City
Council re-designates the Subject Property so that it is situate in a
mixed use area, including retail warehousing following either delivery
by the Supreme Court of its judgment overturning the Variation Decision
or upon the date of passing and perfecting of the High Court judgment
overturning the Variation
Decision.

			
		(c) 	If the Variation Decision
is reversed or overturned following final determination of any judicial
review proceedings to review the Variation Decision (including the
determination of any appeals) and/or Waterford City Council fail to
ensure that the Subject Property will be or will remain situate in a
mixed use area, including retail warehousing THEN either party may
immediately rescind the Sale and terminate this Contract by service of
notice in writing to that effect on the other WHEREUPON the Purchaser
will be entitled to the return of the Deposit in accordance with
Special Condition 8(d) and the Final Instalment and the Vendor will be
entitled to a return of all completion documents and title furnished to
the Purchaser on or prior to the Closing Date PROVIDED ALWAYS that if
the judicial review proceedings of the Variation Decision have not been
finally determined in accordance with any one of the grounds specified
in Special Condition 9(b)(i)-(iv) inclusive by either (1) 14 June 2006
the Vendor may at its option immediately rescind the Sale and terminate
the Contract with the same effect as herein specified; or (2) 14 June
2007 either party may immediately rescind the Sale and terminate the
Contract with the same effect as herein specified.

If
the Contract is rescinded in accordance with Special Condition 9(c),
the Vendor shall be liable for the reasonable cost of funds calculated
at a reasonable rate to the Purchaser on the Deposit and Final
Instalment from the date of passing and perfecting of the High Court
judgment or order overturning the Variation Decision or from the date
the third party has appealed the upholding of the Variation Decision by
the High Court to the Supreme Court, whichever is applicable, until the
date of recission.

For the avoidance of doubt save as
outlined in Special Condition 9(c), the Purchaser will be entitled to a
return of the Deposit and Final Instalment without interest, costs or
compensation thereon.

8

			
		(d) 	No deed of
assurance of the Subject Property will be delivered to the Purchaser or
its nominees on the Closing Date UNTIL the Condition Subsequent has
been satisfied and the right of recission set out in this Contract is
at an end on foot of any one of the grounds specified in Special
Condition 9(b).

			
		(e) 	Notwithstanding
anything to the contrary in this Contract, the Closing Date shall be 14
June 2005 or such later date as may be specified by the Vendor provided
that such date shall be no later than 31 August 2005 whereupon the
Final Instalment will be paid to the Vendor and completion shall occur
save that no deed of assurance of the Subject Property will be
delivered to the Purchaser or its nominee(s) until satisfaction of the
Condition Subsequent and the right of recission set out in this
Contract is at an end in accordance with Special Condition
9(b).

			
		(f) 	The Purchaser's
attention is drawn to the correspondence exhibited at Nos 15(a) –
(e) inclusive of the Documents Schedule (the "Keller
Correspondence"). The Purchaser will purchase the Subject
Property in the full knowledge of the existence of the Keller
Correspondence. If any judicial review proceedings to review the
Variation Decision are initiated on or prior to the Closing Date
whether on foot of the Keller Correspondence or otherwise, such
institution of judicial review proceedings will not delay payment of
the Final Instalment to the
Vendor.

			
		(g) 	Whether the judicial review
proceedings envisaged by this Special Condition are issued against
either the Purchaser or the Vendor or both as a notice party, both
parties to this Contract hereby agree to work together and co-operate
with the other in vigorously pursuing the defence of any judicial
review proceedings initiated by any party prior to 17 October 2005 to
review the Variation Decision whether on appeal or otherwise and/or in
bringing any appeal before the Supreme Court if the Variation Decision
is overturned .

		
	9. 	Shareholder
Approval

If Waterford Wedgwood plc determines that the
approval of its shareholders is required to the completion of the sale
of the Subject Property under the terms of Chapter 10 of the Listing
Rules of the UK Financial Services Authority and/or the Listing Rules
of the Irish Stock Exchange or otherwise, completion of the sale of the
Subject Property shall not occur without the receipt of such approval
at a duly convened meeting of the shareholders of such
company.

		
	10. 	Option

On the Closing Date, both parties hereto will execute an
option deed containing an option (the
"Option") in favour of the Purchaser for a
nominal consideration of €10 whereby the Purchaser will
have an option for the term of 10 years from the signing of Contracts
to purchase the remainder of the Waterford Crystal Sports and Leisure
Centre together with the car park or part thereof (being the remainder
of the property comprised in Folio 9870 County Waterford) (the
"Remainder Lands") at Open Market Value,
subject to the easements, burdens and/or rights (if any) then affecting
the Remainder Lands, if placed on the open market by the Vendor.

For the purposes of the Option, the Term "Open
Market Value" shall mean the price that a willing
purchaser would be prepared to pay and a willing vendor would be
prepared to accept for the Remainder Lands as at the date when the
Remainder Lands are placed on the open market by the Vendor. The Option
Deed will be in a format as determined by the Vendor's solicitor,
provided the Option Deed provides for the matters set out in Special
Condition 11.

		
	11. 	Land
Certificates

Of the Folios comprising the Subject
Property, the following is the position in relation to the
issue/non-issue (as appropriate) of the land certificate for each
folio:-

				
		(a) 	Folio 23844F
	land certificate not issued.

(Part)

				
		(b) 	Folio 3672F
	retained in Land
Registry.

9

				
		(c) 	Folio 9870
	retained in Land Registry.

(Part)

				
		(d) 	Folio 11795
	land certificate issued.

Where the
land certificate has not issued for a folio, the Vendor will bespeak
the Land Certificate and furnish same to the Purchaser on the Closing
Date. In the absence of the Land Certificate on the Closing Date, the
Vendor's solicitors will furnish a letter of undertaking to the
Purchaser's solicitors to forward same upon receipt from the Land
Registry. Where the land certificate has already issued for a folio,
the original land certificate will be handed over on completion. Where
a land certificate is retained in the Land Registry, a letter of
consent to use together with authorisation and direction addressed to
the Land Registry authorising and directing the Land Registry to retain
the land certificate to the order of the Purchaser upon completion will
be furnished save where part only of a Folio is being sold whereupon a
letter of consent to use only will be furnished on completion, if
relevant. In relation to Folio 9870, the Vendor will apply to the Land
Registry to divide the Folio and issue a Land Certificate in respect of
that portion of Folio 9870 the subject of this Contract. On the Closing
Date, the Vendor's solicitors will furnish a letter of
undertaking to forward this new land certificate to the
Purchaser's solicitors on receipt of
same.

		
	12. 	Roads and Services

The Purchaser is furnished with a copy letter dated 10
August 2004 from Waterford City Council as evidence that the roads and
services abutting the Subject Property are in charge of the Local
Authority. The Purchaser will accept a copy only of this letter and
will not raise any objection, requisition or enquiry in relation
thereto.

		
	13. 	Deed of Assurance
– Easements and Other Rights

The Deed of Assurance
of the Subject Property from the Vendor to the Purchaser shall
incorporate reservations for the Retained Lands for the
following:-

			
		(a) 	The free and
uninterrupted passage and running of the services (i.e. water, soil,
gas, air, electricity, telephone transmissions, radio transmissions,
television transmissions, oil, heating fuels and other services serving
the Retained Lands) to and from the Retained Lands through the
utilities (i.e. all channels, conduits, pipes, drains, watercourses,
ditches, gutters, sewers, wires, mains, cables and other conducting
media for the services including (but without prejudice to the
generality of the foregoing) lighting installations) which are now or
may at any time within the Perpetuity Period (to be determined by the
Vendor) be in under or passing through the Subject Property.

			
		(b) 	The right (without being obliged to do
so) to connect up with and inspect cleanse repair and renew the
utilities which now are or may at any time within the Perpetuity Period
be in under over or passing through the Subject Property AND for the
aforementioned purposes to enter upon the Subject Property with workman
and others and all necessary equipment making good any damage thereby
occasioned by not being responsible for any temporary inconvenience
being caused by such works.

			
		(c) 	The
free and uninterrupted passage and running of soil/effluent and water
to and from the Retained Lands through the pipeline/watermains in under
over or passing through the Subject Property shown coloured
[    ] on the map annexed hereto together with the right at
all times to enter upon the Subject Property and open up the said pipes
or watermains or associated manhole(s) for the purpose of inspecting,
repairing and replacing same and making connections thereto making good
any damage thereby occasioned but not being responsible for any
temporary inconvenience caused by any such works.

The
Deed of Assurance will be executed in duplicate and the original
counterpart thereof returned to the Vendor duly stamped within 30 days
of completion. In addition, the Purchaser's solicitor will
provide a letter of undertaking to this effect which will also include
an obligation on the Purchaser's solicitor to lodge the original
deed of assurance in the Land Registry immediately following

10

stamping and to produce up to date copy
Folio(s) and File Plan(s) of the Subject Property, as soon as the Land
Registry have registered the Purchaser's title thereto, showing
these easements registered as burdens
thereon.

		
	14. 	Post completion
Works

The Purchaser hereby grants to the Vendor, its
servants and agents the right to access and enter upon the Subject
Property with or without machinery/vehicles for the period of three
months from the Closing Date at reasonable mutually convenient times
for the purpose of removing lighting masts, goal posts and ancillary
items, making good all damage thereby occasioned but not being
responsible for any temporary inconvenience caused by such
works.

		
	15. 	Condition of
Property

The Purchaser shall be deemed to buy with full
notice of the actual state and condition of the Subject Property and
shall take it as it stands and subject to all rights of way, water,
light, drainage and other easements, rights and privileges and
liabilities and to all rents and outgoings mentioned in the Particulars
or any Special
Conditions.

		
	16. 	Planning

Save as disclosed herein there are no buildings or other
structures on the Subject Property and no planning permissions granted
to the Vendor in respect thereof have been acted upon insofar as same
relate to the Subject Property. The Purchaser shall raise no objection,
requisition or enquiry in respect of any planning matters and General
Condition 36 is hereby deleted in its entirety. The Purchaser shall
raise no objection, requisition or enquiry in relation to any matter or
thing relating to Local Government (Planning and Development) Act,
1963, the Planning and Development Acts, 2000 to 2002 the Building
Control Act, 1990, Planning and Development Regulations, 2001, the
Building Bye-Laws, the Fire Services Act, 1981 or the Safety, Health
and Welfare at Work (Construction) Regulations, 1995 or any regulations
or orders made thereunder including (but not limited to) any works
carried out to the Subject Property by the
Vendor.

		
	17. 	Identity

The Purchaser shall satisfy itself with regard to the exact
area of the Subject Property and the boundaries thereof and the routes
of the existing burdens/easements/rights of way affecting the Subject
Property. Maps annexed to the Contract shall be deemed to be annexed
for identification purposes only.

No objection,
requisition or enquiry shall be raised in relation to discrepancies (if
any) which may arise between the file plan, relevant deed or Land
Registry instrument and/or the boundaries or lay out of the property on
the ground.

The words "or which are likely
to affect it" appearing on the last line of General
Condition 15 are hereby deleted and replaced with the words
"of which the Vendor is aware will affect the
Property".

		
	18. 	Environmental

The Vendor will furnish a declaration on the Closing Date
confirming the Vendor has not been in breach of environmental laws and
save for the Vendor's obligation to reply to Requisition 31
(Environmental) of the Law Society's Objections and Requisitions
on Title (if not already replied to at the date of this Contract) no
further objection, requisition or enquiry shall be raised or made by
the Purchaser in relation to
same.

		
	19. 	Entire Agreement

The Purchaser hereby acknowledges that this Agreement and
the documents referred to in the Documents Schedule constitute the
entire agreement between the parties and the Purchaser hereby
acknowledges that the Purchaser has not entered into this Agreement in
reliance on any other warranty or representation whether oral or in
writing.

The Purchaser agrees and accepts that no
statement, measurement quantity or description contained in any
newspaper or advertisement published by the Vendor or by the
Vendor's Agents, O'Shea 

11

O'Toole & Partners (the
"Agent"), or given orally or contained in any
brochure, letter or hand-out issued by the Vendor or by the Agent in
respect of the Subject Property (whether or not in the course of any
representation or negotiations leading to the sale) shall constitute a
representation inducing the Purchaser to enter into the sale or any
warranty forming part of this Agreement and that any statement,
description, quantity or measurement contained in any such
advertisement, brochure or letter given by the Vendor or on its behalf
by the Agent are for illustration purposes only and are not to be taken
as matters of fact and that any mistake, omission, discrepancy,
inaccuracy, mis-statement, mis-description or incorrect measurement
given orally or in the form of any advertisement, brochure or letter by
the Vendor or by the Agent (whether or not in the course of any
representation or negotiations leading to the sale) shall not give rise
to any cause of action, claim for compensation against the Vendor or
the Agent or any right of rescission under this Agreement and it is
further agreed that this Agreement contains the entire terms and
conditions of the agreement between the parties hereto. The Law
Society's General Condition 33 shall be read subject to this
condition.

		
	20. 	Survival of
Provisions

Unless otherwise specified herein, all such
terms and conditions of this Agreement as are designed or are capable
of surviving completion of the sale shall survive such completion and
shall not merge in or become extinguished in any subsequent assurance
of the Property or any part
thereof.

		
	21. 	Sub-Sale

On payment of the entire of the purchase monies on the
Closing Date, the transaction shall at the option of the Purchaser
proceed by way of sub-sale of all or part of the Subject Property and
the Vendor will execute deeds of assurance as required to enable the
transaction to be completed in this manner PROVIDED that the Vendor is
notified in sufficient time of the identity of the Purchaser's
nominee(s) and number of deeds of assurance to comply with the Listing
Rules of the UK Financial Services Authority and/or the Listing Rules
of the Irish Stock Exchange or otherwise AND PROVIDED also that the
Purchaser confirms that such identity may be disclosed in any
announcement required by the Listing Rules of the UK Financial Services
Authority or otherwise AND PROVIDED ALWAYS that no such deed(s) of
assurance will be delivered until the Condition Subsequent in Special
Condition 9(b) has been satisfied. The Vendor will execute a Deed of
Covenant in favour of the Purchaser and its bank, Anglo Irish Bank
Corporation plc on the Closing Date in the terms of the draft annexed
hereto in relation to the execution of deeds of transfer/assurance of
the Subject Property.

12

NON-TITLE INFORMATION

Query Reply
(Please tick and/or insert comments as
appropriate)

																			
	 		 		Yes		No		Comments
	1.		SERVICES		 	 	 		 	 	 		 	 	 
	i.		How
is the Subject Property serviced as
to:		 	 	 		 	 	 		 	 	 
	 		(a)    drainage;		 	 	 		 	 	 		Inspection
will reveal.
	 		(b)    water
supply;		 	 	 		 	 	 		"
	 		(c)    electricity;		 	 	 		 	 	 		"
	 		(d)    gas;
and		 	 	 		 	 	 		"
	 		(e)    otherwise.		 	 	 		 	 	 		"
	ii.		Have
the services (including roads, lanes, footpaths, sewers and drains)
abutting or servicing the Subject Property been taken over by the Local
Authority,		 	 	 		 	 	 		See copy letter dated 10 August
2004 in the Documents Schedule
hereto.
	 		Will a
letter from the Local Authority or a solicitor's certificate to
vouch the position be furnished on or before
closing.		 	 	 		 	 	 		See copy letter dated 10 August 2004
in the Documents Schedule
hereto.
	 		If services
are not in charge, are there appropriate easements and indemnities in
existence.		 	 	 		 	 	 		Not
applicable
	iii.		Is
the Subject Property serviced
by:		 	 	 		 	 	 		 
	 		(a)    septic
tank;
or,		 	 	 		 	X	 		 
	 		(b)    private
drainage
scheme.		 	 	 		 	X	 		 
	iv.		Is
the Subject Property serviced for television and if so is it
by:		 	 	 		 	 	 		 
	 		(a)    Cable
T.V.;		 	 	 		 	X	 		Not applicable, this is a green
field site
	 		(b)    Satellite
Dish;		 	 	 		 	X	 		Not applicable, this is a green
field
site
	 		(c)    MMDF;		 	 	 		 	X	 		Not
applicable, this is a green field
site
	 		(d)    TV aerial owned by Vendor;
or		 	 	 		 	X	 		Not applicable, this is a green
field site
	 		(e)    TV aerial owned by
another.		 	 	 		 	X	 		Not applicable, this is a
green field site
	 		If
(b) or (d) applies, will it be included in the Purchase
Price.		 	 	 		 	 	 		 
	v.		Is
there a telephone line to be supplied with the Subject
Property.		 	 	 		 	X	 		Not applicable, this is a
green field
site
	vi.		Is there an
ISDN line to be supplied with the Subject
Property.		 	 	 		 	X	 		Not applicable, this is a
green field
site
	2.		CONTENTS		 	 	 		 	 	 		 
	i.		Are
there any contents included in the Purchase
Price.		 	 	 		 	X	 		Not applicable in its entirety
as this is a green field
site
	 		If so, give
Vendor's estimate of
value.		 	 	 		 	 	 		 
	

13

																			
	 		 		Yes		No		Comments
	ii.		Are
there any fixtures, fittings or chattels included in this Sale which
are the subject of any Lease, Rent, Hire Purchase Agreement or Chattel
Mortgage.		 	 	 		 	X	 		Not applicable in its
entirety as this is a green field
site
	 		If so, furnish
now the Agreement and on closing proof of payment to date or discharge
thereof.		 	 	 		 	 	 		Not applicable in its entirety as
this is a green field
site
	3.		OUTGOINGS		 	 	 		 	 	 		 
	i.		What
is the Rateable Valuation
of:		 	 	 		 	 	 		 
	 		(a)    Lands;		 	 	 		 	 	 		Nil
	 		(b)    Buildings.		 	 	 		 	 	 		Not
Applicable
	ii.		Give
particulars of any other periodic or annual charge which affects the
Subject Property or any part of it.		 	 	 		 	 	 		None to
Vendor's knowledge save as disclosed in the documents of
title.
	

14

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