Document:

INVOICE DISCOUNTING AGREEMENT

AN AGREEMENT made the 10th day of October 1996

BETWEEN

1.        The person  whose name and address is set out in the  schedule  hereto
          and who is there described as the Vendor ("the Vendor") and

2.        LOMBARD  NATWEST  DISCOUNTING  LIMITED of Smith House  Elmwood  Avenue
          Fettham Middlesex ("LND")

WHEREBY it is agreed as follows;

1.        The Agreement shall commence on the date specified in the schedule and
          shall continue until terminated by either party by not less than three
          months' written prior notice.

2.        (a)       The  Vendor  shall sell with full  title  guarantee  and LND
                    shall purchase free from all charges liens and  other encum-
                    brances and upon the terms hereof all  Receivables,  subject
                    to such  exceptions as may from time to time be specified by
                    LND.

          (b)       The  purchase of any  Receivable  shall be complete  and the
                    rights  to  such  Receivable  shall  vest in LND  upon  that
                    Receivable coming into existence.

          (c)       "Receivables"  means  all the  book  debts,  invoice  debts,
                    accounts  notes,  bills,  acceptances  and/or other forms of
                    obligation  owned  by or owing to the  Vendor  which  are in
                    existence at the date of  commencement  of this Agreement or
                    which  come  into  existence  during  the  currency  of this
                    Agreement in respect of contracts entered into by the Vendor
                    for the sale of goods or the  provision  of  services in the
                    ordinary course of business to customers in countries as set
                    out in the  schedule,  and which are  payable  in the United
                    Kingdom in any of the  currencies  specified in the schedule
                    ("the Approved Currencies"),  and shall also include all the
                    Vendor's  rights  under the  contract  concerned  and in the
                    goods the subject  matter of that  contract.  [However,  the
                    expression  does not  include a sum  payable  in full in the
                    United Kingdom prior to the despatch of the goods or payable
                    against  documents  under an  irrevocable  letter  of credit
                    confirmed by a bank in the United Kingdom before despatch of
                    the goods.  For these  purposes,  "despatch" is deemed to be
                    made when the Vendor parts with  possession  of goods in any
                    way for the purpose of transmitting them to a customer.]

          (d)       The  purchase  price,  which  shall  be  payable  as  herein
                    provided by LND to the Vendor, for any Receivable  purchased
                    in  accordance  with  Clause  2(a) shall be the full  amount
                    payable by the  Vendor's  customer for the goods or services
                    to which the Receivable  relates (together with any VAT, tax
                    or other impost  payable in respect  thereof) as notified by
                    the Vendor to LND less:

                    (i)       any discount commission or other allowances due or
                              allowable   to  the  customer  and  shown  on  the
                              relevant invoice; and

                    (ii)      the Discounting Charge

                    and  shall be  payable  (subject  as set out  below)  in the
                    currency in which the Receivable is expressed.

          (e)       All sales of Receivables  made  hereunder  shall be absolute
                    sales.

          (f)       "United  Kingdom"  means the United Kingdom of Great Britain
                    and  Northern  Ireland,  the  Isle of Man  and  the  Channel
                    Islands.

3.        Subject to the  provisions  of the  Agreement  and  compliance  by the
          Vendor with,  Clause  9(b)(vi) LND shall remit (and at any time at the
          sole  discretion  of LND it may  remit) to the  Vendor any part of the
          balance  standing  at the credit of any of the  Receivables  Purchased
          Accounts up to the full amount  thereof  less any amount  which LND in
          its sole  discretion  requires as a retention.  Any balance  which may
          stand at the debit of the Vendor on a  Receivables  Purchased  Account
          shall be payable by the Vendor to LND on demand.  LND will  notify the
          Vendor from time to time of the basis on which it proposes to exercise
          its discretion under the terms of this clause.

4.        (a)       Receivables Purchased Accounts will be maintained  by LND in
                    respect of each of the Approved  Currencies to which will be
                    credited:

                    (i)       the full purchase price (as defined in Clause 2(d)
                              but  ignoring  the  Discounting   Charge)  of  all
                              Receivables   payable  in  the  relevant  currency
                              advised to LND;

                    (ii)      any  costs  or  expenses  recovered  by LND  under
                              Clause  13  (expressed  in the  relevant  Approved
                              Currency  if  actually  recovered  in a  different
                              currency);

                    (iii)     any  amount  paid by the  Vendor to LND under this
                              Agreement   (but  shall  not  include  any  monies
                              remitted to LND under Clause 9(b)(viii)) expressed
                              in the  relevant  Approved  Currency  if  actually
                              recovered in a different currency;

                    and to which will be debited  (so far as the same  relate to
                    Receivables denominated in the Approved Currency concerned):

                    (iv)      all  payments  made to the Vendor by LND under the
                              terms of this Agreement;

                    (v)       the full value of all credit  notes  issued by the
                              Vendor;

                    (vi)      the  amount  of any  Receivables  which  LND gives
                              notice to the Vendor to  repurchase  under  Clause
                              15;

                    (vii)     the amount of any sum payable by the Vendor  under
                              Clauses 6, 11(b)(i), 11(b)(ii) and 13;

                    (viii)    the amount of any payment cost damage or liability
                              made  or  sustained  by LND  arising  directly  or
                              indirectly  in   consequence   of  any  breach  of
                              warranty or  undertaking by the Vendor or of steps
                              reasonably  taken by LND to mitigate  such payment
                              cost or damage or liability;

                    (ix)      a  Discounting  Charge which will be calculated at
                              the rate specified in the schedule each day on the
                              net  daily  balance  standing  at the debit of the
                              Memorandum  Discounting Statement referable to the
                              relevant  Approved  Currency and will be recovered
                              by  deduction  from the next payment by LND to the
                              Vendor in respect of sums  payable in the relevant
                              Approved Currency;

                    (x)       a Commission  Charge in  accordance  with Clause 5
                              which will be debited on the last  working  day of
                              each month and  recovered  by deduction as set out
                              in paragraph (ix) above.

          (b)       Memorandum  Discounting Statements in respect of each of the
                    Approved  Currencies  will  be  maintained  by LND  for  the
                    purpose of calculating Discounting Charges to which shall be
                    credited:

                    (i)       all  payments  received  in  respect  of  customer
                              payments in the relevant  currency as described in
                              Clause 9(b)(viii);

                    (ii)      any  payments  received in the  relevant  currency
                              direct  by  LND  in  respect  of  the  Receivables
                              purchased under this Agreement;

                    (iii)     any  amount  paid  by  the  Vendor  to  LND in the
                              relevant currency;

                    (iv)      any  amount  that  falls  to be  credited  to  the
                              relevant  Receivables  Purchased Account at Clause
                              4(a)(ii) above;

                    (v)       any amount  paid in the  relevant  currency by any
                              other person to LND under Clause 11(b);

                    and to which will be debited  (so far as the same  relate to
                    Receivables denominated in the Approved Currency concerned):

                    (vi)      all  payments  made to the Vendor by LND under the
                              terms of this Agreement;

                    (vii)     the amount of any sum payable by the Vendor to LND
                              under Clauses 11(b)(i), 11(b)(ii) and 13;

                    (viii)    the  amount  of  any  sum  payable   under  Clause
                              4(a)(viii) above;

                    (ix)      the  amount  of any  cheque  or  other  instrument
                              credited   under   Clauses   4(b)(i);    4(b)(ii);
                              4(b)(iii);  4(b)(iv); and 4(b)(v) above where such
                              cheque or instrument is dishonoured;

                    (x)       a  Discounting   Charge  as  described  at  Clause
                              4(a)(ix) above;

                    (xi)      a Commission Charge as described at Clause 4(a)(x)
                              above.

          (c)       At the end of each month LND will send to the Vendor  copies
                    of each of the  Receivables  Purchased  Accounts and each of
                    the Memorandum Discounting Statements.

5.        LND shall be entitled to charge the Vendor a commission which shall be
          calculated as being the percentage specified in the Schedule hereto of
          the gross amount of  Receivables  sold to LND in each month.  All such
          commission  charges shall be subject to applicable  Value Added Tax at
          the prevailing rate.

6.        Where any Receivable purchased by LND remains unpaid whether wholly or
          in part after payment  thereof has become due or where at any time the
          customer  disputes  liability for payment or asserts any right of lien
          retention  or setoff  the  Vendor  shall on demand pay to LND the full
          amount or the whole of the unpaid amount of that Receivable.

7.        (a)       The Vendor shall at its own expense and  if  so requested by
                    LND execute a separate  assignment in writing  to LND of any
                    Receivable  sold to LND in  accordance  with  this Agreement
                    and of any  rights  which  the  Vendor  may have in relation
                    thereto.

          (b)       If in relation to any  Receivable it is not possible for LND
                    to take a separate  assignment of the  Receivable as set out
                    in subclause  (a) of this Clause 7, the Vendor will continue
                    to hold such  Receivable  in trust for LND and any  payments
                    received in respect thereof wilt be immediately paid to LND.

8.        (a)       The Vendor shall not grant any fixed or floating charge over
                    any existing or future  Receivables of  the Vendor and shall
                    procure the exclusion  of such  Receivables  from any charge
                    in which they would otherwise be comprised.

          (b)       The Vendor shall not assign  charge or in any way dispose of
                    the benefit of this Agreement without the express consent in
                    writing of LND.

          (c)       During  the  currency  of this  Agreement  the  Vendor or if
                    applicable  its  parent  subsidiary  or  associated  company
                    shall not  enter  into any  agreement  for the  charging  or
                    discounting of its  Receivables  without the express consent
                    of LND.

9.        (a)       The Vendor hereby warrants  to  LND that in relation to each
                    Receivable sold hereunder  by the  Vendor to LND and so that
                    this warranty shall be deemed to  be  repeated on each occa-
                    sion  on which  the Vendor makes an advice of Receivables to
                    LND:

                    (i)       the goods have been duly delivered or the services
                              duly provided;

                    (ii)      no other  person has an  interest in or any charge
                              lien or other  encumbrance  on the  Receivable  to
                              which the advice relates;

                    (iii)     the  Receivable  is  an  existing  and  bona  fide
                              obligation of the Vendor's customer arising out of
                              the sale of goods or the  provision of services by
                              the Vendor in the ordinary course of its business;

                    (iv)      the  Vendor  is not then in  breach  of any of its
                              obligations  to the customer and the customer will
                              accept the goods sold or the services provided and
                              the  invoices  therefor  (or  if the  customer  is
                              bankrupt or in liquidation the customer's  trustee
                              in bankruptcy or liquidator will accept a proof of
                              debt for the unpaid balance of the invoiced price)
                              without any dispute or claim  whatsoever  (whether
                              justifiable  or  not)  including  disputes  as  to
                              price,  terms,  quantity,  or quality,  set oft or
                              counter-claim  or claims of release from liability
                              or  inability  to pay because of any act of God or
                              public enemy or war or because of the requirements
                              of  law   (whether   in  the  United   Kingdom  or
                              elsewhere)  or of  rules,  orders  or  regulations
                              having the force of law;

                    (v)       the customer is not a  subsidiary,  co-subsidiary,
                              parent  or  associated  company  of the  Vendor or
                              under the same director or shareholder  control as
                              the Vendor;

                    (vi)      the  customer  has  obtained  all the  authorities
                              necessary  under the  regulations  in force in the
                              country  to which  the  goods  are  despatched  or
                              services rendered,  or from which payment is to be
                              made,   in  order  to  pay  the   Receivables   in
                              accordance with the contract of invoice;

                    (vii)     the  contract  with  the  customer  specifies  the
                              nature and  quantity of the goods or services  and
                              the terms and currency of payment;

                    (viii)    the  customer's  authority  to import the goods or
                              receive  the  services  and to pay for them is not
                              subject  to  conditions  as to the export of other
                              goods from any  country or as to payment  for such
                              other goods when so exported;

                    (ix)      the  goods  or  services  are to be or  have  been
                              exported  to or  rendered  in and payment is to be
                              made from the customers country of residence; and

                    (x)       the contract for the sale of goods or provision of
                              services between the Vendor and its customer shall
                              be  expressed  to be governed by and  construed in
                              accordance  with  English  law, and such choice of
                              law is in all  respects  valid and  binding on the
                              customer.

          (b)       The  Vendor  hereby   undertakes   with  LND  so  that  this
                    undertaking  shall  continue  throughout  the  term  of this
                    Agreement:

                    (i)       promptly  to perform  all  further  or  continuing
                              obligations of whatsoever  nature of the Vendor to
                              the  customer  arising out of the sale of goods or
                              the provision of services as a result of which any
                              Receivable comes into existence;

                    (ii)      on request by LND to give  notice to the  Vendor's
                              customers  or to such of them as LND shall  direct
                              that the  right to the  Receivables  specified  in
                              such notice (which may include  Receivables  which
                              have  not  yet  come  into   existence)  has  been
                              assigned to LND, such notice to be in such form as
                              LND shall require;

                    (iii)     to  disclose  to LND  any  change  or  prospective
                              change  in  the  constitution  or  control  of the
                              Vendor and any other  fact or matter  known to the
                              Vendor   which  is  material  to  be  known  by  a
                              purchaser of the Receivables;

                    (iv)      in  respect  of every  Receivable  (but only after
                              delivery of the relevant goods or the provision of
                              the relevant  services) to complete and deliver to
                              LND an advice form  supplied  for such  purpose by
                              LND signed by an authorised  official.  The Vendor
                              shall  also  remit  any such  other  documents  in
                              support of each Receivable as LND may require;

                    (v)       that  all  entries  relating  to the  sale  of any
                              Receivable  by the Vendor to LND are duly recorded
                              in the books of the Vendor and to ensure  that all
                              accounts maintained in the books or records of the
                              Vendor  in  the  names  of  its  customers  bear a
                              conspicuous  notation that they have been assigned
                              to LND;

                    (vi)      in relation to each of the Approved  Currencies to
                              send to LND by the day of each month  specified in
                              the Schedule  and in a manner  approved by LND and
                              made up to the last day of the preceding month:

                              (a)       an aged analysis of the Receivables sold
                                        to LND which remain  outstanding at that
                                        date  such  analysis  being  aged on the
                                        basis   specified  in  the  Schedule  by
                                        invoice  date  and   identifying   those
                                        accounts which are either disputed or in
                                        solicitors' hands;

                              (b)       a  copy  of  the  Sales  Ledger  Account
                                        relating to the Receivables purchased by
                                        LND under this Agreement;

                    (vii)     to allow LND and its authorised  agents at regular
                              intervals  determined  by LND  and at  such  other
                              times as LND shall decide to visit the premises of
                              the Vendor to  inspect  check and verify all books
                              records accounts orders and correspondence and any
                              other  papers of the Vendor that LND may  require.
                              The Vendor at the  request of LND will  supply LND
                              with  statements  of its  financial  position  and
                              results  of  its   operations   certified  by  the
                              Vendor's auditors;

                    (viii)    the Vendor as  trustee  for LND will hold and keep
                              separate  from any other  movies of the Vendor all
                              remittances  received  by it  in  payment  of  any
                              Receivable  which has been sold to LND. The Vendor
                              will  immediately  pay  all  remittances  endorsed
                              where required:

                              (a)       direct  to  the  account  of  LND at the
                                        bankers of LND, or

                              (b)       into a trust account in the name of LND.

10.       The Vendor hereby irrevocably:

          (a)       authorises  LND to endorse the name of the Vendor on any and
                    all cheques or other forms of remittance received where such
                    endorsement  is required to effect  collection or to perfect
                    LND's  title  as a holder  in due  course  or for any  other
                    reason;

          (b)       appoints  LND the  attorney  of the Vendor to execute in the
                    name and on behalf of the  Vendor any  assignment  requested
                    under Clause 7,

11.       (a)       On  purchase  by  LND of  any  Receivable  then  any  title,
                    property, right or interest  of the  Vendor  in the goods to
                    which such Receivable relates (including all such goods that
                    may be rejected or returned by the customers of the Vendor),
                    all the Vendors rights as unpaid Vendor and all other rights
                    of the Vendor under the contract  or  contracts  pursuant to
                    which  the  Receivable  comes  into  existence (whether such
                    rights be created by contract, statute or other rule of law)
                    shall be  deemed  to be  assigned  and  transferred  to  LND
                    absolutely  whether  or not the  goods shall have been deli-
                    vered by the Vendor at the time of the said purchase.

          (b)       Any  goods  recovered  by or on  behalf  of  the  Vendor  in
                    pursuance  of the  exercise  of any  rights  referred  to in
                    subclause  (a) of this  Clause  shall be treated as returned
                    goods and all returned  goods shall be promptly  notified to
                    LND and shall be set aside  marked  with LND's name and held
                    for LND's  account as owner.  LND shall (in  addition to and
                    without  prejudice to any other rights it may have) have the
                    right to take  possession of and to sell or cause to be sold
                    without  notice any  returned  goods at such  prices to such
                    purchasers  and upon such  terms arid  conditions  as it may
                    deem  advisable and in the event of any such sale the Vendor
                    shall pay to LND on demand (and without  asserting any right
                    of set-off):

                    (i)       the   difference   between   the   amount  of  the
                              Receivable  relating  to such goods and the amount
                              received by LND on any such sales; and

                    (ii)      any  costs and  expenses  (including  legal  fees)
                              incurred   by  LND  in   relation   to  any   such
                              repossession and sale.

          (c)       On purchase by LND of any Receivable then without  prejudice
                    to the  generality of the  provisions  of sub-clause  (a) of
                    this  Clause,  there  shall  vest in LND the  benefit of all
                    guarantees,  indemnities, insurances and securities given to
                    or held by the Vendor in respect  of such  Receivable  or of
                    goods or services to which it relates.

12.       LND shall not be liable to the Vendor for the amount of any  discount,
          commission or allowance wrongly claimed or deducted by the customer in
          respect  of any  Receivable  unless  and until  such  amount  has been
          received by LND.

13.       On or after the making of a request by LND under  Clause  9(b)(ii) LND
          shall  have the sole  right of  collecting  and  enforcing  payment of
          Receivables  (other  than  those  re-assigned  after  payment  of  the
          repurchase price) in whatever manner it may in its absolute discretion
          decide,  whether or not the Vendor has been debited with the amount of
          the  Receivables  and the Vendor  shall  co-operate  to  procure  such
          collection and  enforcement.  The conduct of any proceedings  shall be
          with  LND  who  may  (where  necessary  in the  name  of  the  Vendor)
          institute,  compromise,  settle  abandon or in any  manner  whatsoever
          conduct such proceedings upon such terms as LND in its sole discretion
          shall  decide and the  Vendor  shall be bound by all acts of LND under
          this Clause.  The Vendor shall be responsible  for and shall forthwith
          on demand pay all costs  charges  and  expenses of  whatsoever  nature
          incurred by LND under this Clause.

14.       LND shall be  entitled  to debit the  relevant  Receivables  Purchased
          Accounts and  Memorandum  Discounting  Statements  with and/or  setoff
          against  any movies  payable  to the  Vendor  any sums  payable by the
          Vendor in the relevant  currency to LND whether for debt or liquidated
          or unliquidated damages and whether payable presently or contingently.

15.       (a)       Should  the Vendor at  any  time  commit  any breach of this
                    Agreement  or  become  insolvent  or pass  a  resolution for
                    members  voluntary  winding up or call any meeting of credi-
                    tors or should  the  Vendors  income  or  assets or any part
                    thereof  be seized under any  execution of legal  process or
                    under  distress for  rent then LND may determine this Agree-
                    ment  forthwith  by written  notice  delivered  or posted to
                    the Vendor  at  the  address  of  the  Vendor  stated in the
                    Schedule or at  the  Vendor's  Registered  Office  or at any
                    other address  at which  the Vendor carries on business.  At
                    any time after the  termination  of the  Agreement  pursuant
                    to this Clause LND shall be  entitled  by notice  to require
                    the  Vendor  to  repurchase  at  face  value  so much of any
                    receivable purchased by LND as then remains  outstanding but
                    so that LND shall remain legal and  beneficial owner of  the
                    Receivable until the repurchase price has been paid;

          (b)       At any time after giving notice as set out above,  LND shall
                    be entitled (but not obliged) to combine and consolidate the
                    Receivables   Purchased   Accounts  and   (separately)   the
                    Memorandum  Discounting  Statements  relating to Receivables
                    denominated in different  currencies and, in se doing, shall
                    covert  the  sums  concerned  into  sterling.  Further,  any
                    payment  made  by  the  Vendor  to  LND  in  respect  of the
                    repurchase  of  a  Receivable  shall  be  made  in  sterling
                    converted  at the date of actual  payment  (if LND shall not
                    then have  exercised  its right to combine  accounts set out
                    above) or at the date on which such combination took place.

16.       "Insolvency"  means, in the case of an individual or partnership  firm
          the  commencement  of the  bankruptcy of the individual or firm and in
          the case of a company the commencement of winding up of the company by
          reason  of  inability  to pay its  debts as they fall due or in either
          such case the  appointment  of a Receiver of any part of the income or
          assets  of  the  individual  firm  or  company  or  the  making  of an
          arrangement  or  composition  with  creditors  whichever  event  first
          occurs.

17.       All  conversions  from one currency to another  required in connection
          herewith  (whether for the purposes of accounting or payment) shall be
          made at the  prevailing  spot  rate  for the  purchase  of the  second
          currency with the first,  as at 11 a.m. on the date of conversion,  as
          quoted by National Westminster Bank plc.

18.       LND's rights under this  Agreement  shall not be affected by the grant
          of any time or  indulgence  to the  Vendor or to any  customer  or any
          failure  to  exercise  or  delay in  exercising  any  right or  option
          available  against the Vendor any  customer or any other person nor by
          any step taken by LND.

19.       The terms set out in this  Agreement  represent the whole of the terms
          agreed  between  LND and the Vendor to the  exclusion  of any prior or
          contemporaneous  statements  on the part of LND whether  expressed  or
          implied and whether oral or in writing.

20.       The Vendor will bring the terms of this  Agreement to the attention of
          it auditors for the time being,  and authorises LND to disclose to its
          auditors  for  the  time  being  such  information  relating  to  this
          Agreement  and its  operation as its auditors  shall from time to time
          request.

21.       This  Agreement and any purchase of a Receivable  pursuant to it shall
          be construed in accordance with and governed by English Law.

22.       For the  purposes of this Clause and Clauses 23 to 31  (inclusive)  of
          this Agreement:

          (a)       the definition of "Insolvency"  contained in Clause 16 shall
                    be extended to include (in case of a company)  the making of
                    an Administration  Order pursuant to the Insolvency Act 1986
                    and in the said  definition  (in the case of an  individual,
                    partnership or company) the  expressions  "arrangement"  and
                    "composition"  shall be  construed  as  meaning  the  taking
                    effect of a Voluntary Arrangement pursuant to the said Act;

          (b)       the  definition  of  "Receivables"  contained in Clause 2(c)
                    hereof  shall be extended  to include  (where the content so
                    admits) part of Receivables;

          (c)       the   following   expressions   shall   have  the   meanings
                    respectively assigned to them below:

                    "Approved Receivable"

                    a Receivable which:

                    (i)       is for the time being  (when  aggregated  with all
                              Receivables  owing  by the same  customer  at such
                              time) within a Credit Limit; and

                    (ii)      is not at any time the  subject  of any  breach by
                              the Vendor of any warranty,  undertaking  or other
                              obligation contained in this Agreement; and

                    (iii)     does  not  rank  as an  Unapproved  Receivable  by
                              reason of any of the provisions of Clause 28; and

                    (iv)      is not a  Receivable  of the class or  description
                              described In section 5 of the Schedule hereto;

                    "Credit Limit"

                    a limit  established  by LND in its absolute  discretion  in
                    relation  to any  customer  or  prospective  customer of the
                    Vendor  (following  application for such limit by the Vendor
                    in such manner and on such form as LND may from time to time
                    prescribe)  for  the  purpose  of  determining  whether  any
                    Receivable is an Approved Receivable;

                    "Delivery"

                    in relation to Goods, the placing in transit to the Customer
                    from a place in the  United  Kingdom  and,  in  relation  to
                    services, their completion;

                    "Discretionary Limit"

                    a Discretionary  Limit prescribed by LND for the purposes of
                    Clause 24 hereof;

                    "Date of Insolvency"

                    (v)       in the case of bankruptcy, winding up by the Court
                              or  an  administration   order  the  date  of  the
                              bankruptcy    order,    winding    up   order   or
                              administration  order  respectively  by the  Court
                              having jurisdiction;

                    (vi)      in the case of voluntary  winding up of a company:
                              the date of the  resolution  for winding up by the
                              members of the company;

                    (vii)     in the case of the appointment of a receiver:  the
                              date of his appointment;

                    (viii)    in the case of an  arrangement:  the date  when it
                              takes effect;

                    "Due Date"

                    in relation to a Receivable:  the date on which it is due to
                    be paid  pursuant to the  contract  of sale or for  services
                    giving rise to such Receivable;

                    "Unapproved Receivable"

                    any Receivable which is not an Approved  Receivable or which
                    shall have ceased to be an Approved  Receivable by reason of
                    any breach by the  Vendor of any  warranty,  undertaking  or
                    other  obligation   contained  herein  or  pursuant  to  the
                    provisions of Clause 28;

                    "VAT Bad Debt Regulations"

                    the   provisions  for  the  refunding  of  value  added  tax
                    contained  in section 11 of the Finance Act 1990 and the VAT
                    (Refund for Bad Debts) Regulations 1991 (ST 1991 /371);

          (d)       The  description  of a Receivable as "Eligible for a Refund"
                    shall mean that,  but for its assignment to LND, the VAT Bad
                    Debt Regulations  would apply to such Receivable and that it
                    remains an Approved Receivable and outstanding and vested in
                    LND on or after the  expiry of the period  necessary  for an
                    unpaid  debt to be the  subject of a claim under the VAT Gad
                    Debt Regulations; and

          (e)       The  expression  "Goods"  shall  where the context so admits
                    include any services.

23.       (a)       No  Credit Limit  shall be  in effect until  written  notice
                    thereof on LND's  official  form shall have been received by
                    the Vendor.

          (b)       LND may  (in its  absolute  discretion)  by oral or  written
                    notice to the Vendor at any time reduce or cancel any Credit
                    Limit and any such change shall take immediate effect except
                    that  no   reduction  or   cancellation   shall  affect  any
                    Receivable which:

                    shall have  arisen  from the  Delivery  of Goods  before the
                    receipt  by the  Vendor of notice  of such  cancellation  or
                    reduction; and

                    (i)       was at the time of such receipt within such Credit
                              Limit.

          (c)       Where two or more Receivables are owing by the same customer
                    they shall be treated  as  falling  within any Credit  Limit
                    relating to that  customer in the order of their  respective
                    Due Dates.

          (d)       When Approved and  Unapproved  Receivables  are owing by the
                    same customer (except as provided in Clause 23(e)) LND shall
                    have  the  right  to  appropriate  any  payment  made by the
                    customer  and  any  movies  received  from  a  guarantor  or
                    indemnifier in respect of the customer's obligations and any
                    credit or allowance granted by the Vendor to the customer in
                    satisfaction  of any Approved  Receivable in priority to any
                    Unapproved Receivable owing by that customer notwithstanding
                    any contrary appropriation by the customer.

          (e)       After the Date of Insolvency of any customer any dividend or
                    other benefit received by LND in reduction of any Receivable
                    owed by such customer shall be  appropriated to the Approved
                    and  Unapproved  Receivables  proportionately  in accordance
                    with the  amounts of  Approved  and  Unapproved  Receivables
                    owing by the customer at the Date of Insolvency.

24.       (a)       LND may in its absolute discretion by written  notice to the
                    Vendor  authorise the Vendor itself to establish in relation
                    to any customer a Credit  Limit not  exceeding  the  Discre-
                    tionary  Limit  stated  in  such notice.  The  Vendor  shall
                    exercise due care and prudence in the establishment of every
                    Credit Limit pursuant to this Clause.

          (b)       LND may at any time in its absolute Discretion by written or
                    oral  notice to the  Vendor  increase  reduce or cancel  the
                    Discretionary Limit and such variation or cancellation shall
                    take effect forthwith and any such reduction or cancellation
                    shall  have  the  effect  of  an  equivalent   reduction  or
                    cancellation  (in  accordance  with the provisions of Clause
                    23(b)) in every Credit Limit established  pursuant to Clause
                    24(a) and  remaining in existence at the time of the receipt
                    of such notice by the Vendor.

25.       (a)       The  establishment  of  any Credit  Limit  by  LND shall not
                    import any  responsibility  or liability  on the part of LND
                    save as  specifically  provided  in  this  Agreement and LND
                    shall not be obliged to provide for the Vendor any  informa-
                    tion or reason on the basis of which any Credit  Limit shall
                    have been established, varied or withdrawn.

          (b)       The Vendor hereby  undertakes  that it shall not at any time
                    disclose to any customer or any third party the amount of or
                    the  absence  of any  Credit'  Limit  in  relation  to  such
                    customer  and to  indemnify  LND  against  all losses  costs
                    damages  claims  interest and expense that LND may suffer or
                    incur  by  reason  of  any  breach  by  the  Vendor  of  the
                    provisions of this Clause.

26.       (a)       The Vendor shall promptly disclose to LND any fact or matter
                    which the Vendor knows or should reasonably have known might
                    influence LND in its decision whether to  establish,  reduce
                    or cancel any Credit Limit or the Discretionary Limit.

          (b)       Every advice form remitted to LND by the Vendor  pursuant to
                    Clause9(b)(iv) shall be deemed to constitute a warranty that
                    every  Receivable  included  in such  advice form shall have
                    arisen  from  a  contract  of  sale  or for  services  which
                    provides  for  payment  by the  customer  on terms  not more
                    liberal  than those  specified  in section 7 of the Schedule
                    hereto.

          (c)       The  Vendor  hereby  undertakes  to  exercise  such care and
                    prudence in granting credit to and  withholding  credit from
                    its customers and to do such things (including any requisite
                    legal  proceedings)  in procuring or  attempting  to procure
                    payment of all Receivables as would be exercised and done by
                    a  reasonably  careful and prudent  supplier of Goods of the
                    nature of those sold by the Vendor.  In particular  (without
                    prejudice to the  generality  of the  foregoing)  the Vendor
                    shall not (without the prior written  consent of LND) effect
                    the  delivery  of  further  Goods to any  customer  when any
                    Receivable  owing by that customer shall remain unpaid after
                    the sixtieth day , after the Due Date of such  Receivable or
                    when the  Vendor  has  knowledge  that such  customer  is in
                    financial difficulties.

27.       In addition to and without  prejudice to LND's rights and the Vendor's
          obligations  pursuant  to  Clauses  9(b)(vi)  and 13 hereof the Vendor
          hereby undertakes:

          (a)       that, if any Receivable  shall not be paid within sixty days
                    after  its Due  Date or in the  event  that the  Vendor  has
                    knowledge  of  the  financial   difficulties  or  threatened
                    Insolvency of any customer,  the Vendor shall notify LND (in
                    such form and manner as LND may from time to time prescribe)
                    within  ten days of the end of such sixty days or such event
                    as the  case  may  be  giving  full  details  of the  unpaid
                    Receivables  and  the  circumstances  giving  rise  to  such
                    notification; and

          (b)       at any time after such notification to do such things and to
                    take,  continue,  discontinue or abandon such proceedings as
                    LND may  prescribe  for the purpose of enforcing  payment of
                    and collecting such Approved Receivable; and

          (c)       upon the Date of  Insolvency  of any  customer  by which any
                    Approved Receivable shall be owing:

                    (i)       immediately to notify LND (in such form and manner
                              as LND may  from  time to time  prescribe)  of the
                              nature of the  Insolvency  and the  particulars of
                              the Receivables  (whether  Approved or Unapproved)
                              which  shall be owing by any  customer at the Date
                              of Insolvency; and

                    (ii)      in the  absence  of  notice  to that  customer  in
                              accordance  with any  request by LND  pursuant  to
                              Clause 9(b)(ii) and except where the provisions of
                              Clause  30(b) apply  promptly  to submit  proof of
                              debt in respect of such Approved Receivable in the
                              insolvent  estate of such customer and (whether or
                              not such notice  shall have been given) to give to
                              any  person,  who has the duty to  administer  the
                              insolvent  estate  of such  customer,  irrevocable
                              instructions  in such  form as LND  shall  require
                              that any  dividends or other sums of money payable
                              out of such  estate  in  respect  of any  proof or
                              claim  by the  Vendor  or LND  in or  against  the
                              estate of such customer shall be paid only to LND;
                              and

          (d)       upon and after the Date of  Insolvency  of any  customer  by
                    which any Approved Receivable shall be owing (in addition to
                    and without  prejudice to the provisions of Clause 27(c)) to
                    take such other  action as shall be  available to the Vendor
                    and to execute  such other  documents  as shall be requisite
                    (and, if so required by LND, in either case as instructed by
                    LND) for the purpose of  procuring  any  dividends  from the
                    estate of such  customer for the benefit of LND or otherwise
                    recovering payment of such Receivable or mitigating any loss
                    which LND may suffer by reason of such Insolvency.

28.       (a)       If at  any  time  the  Vendor shall be in  breach  of any of
                    its  obligations  pursuant to this  agreement in relation to
                    any Receivable owing by a customer then any Credit Limit es-
                    tablished  in relation to  that  customer shall be cancelled
                    forthwith without the requirement of notice or other  forma-
                    lity and all Receivables owing by such customer at such time
                    shall  rank  as Unapproved  Receivables notwithstanding that
                    any of them  may previously have been Approved  Receivables.
                    Following the cancellation of any Credit  Limit in  relation
                    to any customer pursuant to this clause the Vendor shall not
                    apply to LND  for the  establishment  of any Credit Limit in
                    relation to such customer  until  the  breach giving rise to
                    such cancellation has been redressed.

          (b)       Any Receivable  arising from the Delivery of Goods made to a
                    customer while any other  Receivable  owing by such customer
                    remains  unpaid after the fortieth day after the Due Date of
                    such other Receivable shall rank as an Unapproved Receivable
                    (notwithstanding  any limit  established in relation to such
                    customer)  until  such time as there  remain no  Receivables
                    owing by such  customer  unpaid after the fortieth day after
                    the respective Due Dates of such Receivables.

29.       (a)       LND  shall  refrain  from  making  any  demand  pursuant  to
                    Clause 6 hereof in respect of any  Approved Receivable until
                    the sixtieth day  after  its Due Date and shall not make any
                    such demand thereafter  so long as such  Receivable  remains
                    Approved and provided that the Vendor shall have  instructed
                    a  solicitor  approved  by  LNG  to take proceedings for the
                    recovery (for the benefit of LND) of all sums  due for  pay-
                    ment by the customer which include such Receivable  so  that
                    such instructions  shall be effective  before such  sixtieth
                    day or such other day as LND shall have agreed in writing.

          (b)       For the avoidance of doubt LND shall be entitled to exercise
                    its rights in full pursuant to Clause 6 hereof in respect of
                    any   Approved   Receivable   which   subsequently   becomes
                    Unapproved.

          (c)       The amount (as advised to LND  pursuant to Clause  9(b)(iv))
                    of  every   Receivable  which  shall  rank  as  an  Approved
                    Receivable on the thirtieth day after the Date of Insolvency
                    of the  customer  by which  such  Receivable  shall be owing
                    shall be credited to the Memorandum Discounting Statement on
                    such thirtieth day.

          (d)       The amount of every Receivable  credited  pursuant to Clause
                    29(c) hereof in respect of which LND shall have subsequently
                    exercised  its rights  pursuant to Clause 6 hereof  shall be
                    debited to the Memorandum Discounting Statement so that such
                    debit shall be deemed to have taken place on the date of the
                    relevant credit.

30.       (a)       The  Vendor  shall be  liable on  notice  from LND to accept
                    the reassignment from LND of any Receivable which is  Eligi-
                    ble for a Refund and LND undertakes to execute  and  deliver
                    to the  Vendor  a written  assignment of any Receivable (the
                    subject of any  such  notice) of  which  a previous  written
                    assignment shall have  been  given by  the Vendor to LND. In
                    consideration of any such  reassignment  of a Receivable the
                    Client shall be liable to pay to LND forthwith a sum equiva-
                    lent to the  amount  of value  added tax  (included  in such
                    Receivable)  that the  Vendor may be able to claim under the
                    VAT Bad Debt Regulations.

          (b)       Upon the  ownership any  Receivable  which is Eligible for a
                    Refund becoming revested in the Vendor then the Vendor shall
                    use its best endeavours to recover any sum of money or other
                    benefit  available  for the  reduction of the amount of such
                    Receivable  including  any  dividend  from the estate of the
                    Debtor.  The Client shall forthwith upon its recovery pay to
                    LND such proportion of any such sum of money and transfer to
                    LND such  proportion  of any such benefit as shall be due to
                    LND pursuant to the provisions of Clause 23(e).  Pending its
                    payment  of  transfer   the  Vendor   shall  hold  the  said
                    proportion of such sum of money or benefit in trust for LND.

          (c)       Notwithstanding   and  without  prejudice  to  the  Vendor's
                    obligations pursuant to Clause 30(b) LND shall be at liberty
                    to  complete  and  lodge  in the  Vendor's  name a proof  or
                    statement  of  debt in the  Insolvency  of the  customer  in
                    relation to any Receivable reassigned to the Vendor pursuant
                    to Clause 30(a).

31.       Where in any place outside  England and Wales the meaning of a word or
          expression  used  in  this  Agreement  is to be  considered  and  that
          expression has no counterpart in that place then that expression shall
          (unless  the  context  otherwise  requires)  have the  meaning  of the
          closest equivalent thereto in the place concerned.

SIGNED and DELIVERED as a Deed              )
by MOBILE PLANET LIMITED                    )
acting by:  Michael J. Neame                )      /s/ Michael J. Neame
            Director/Company Secretary             --------------------
                                            )      Director
                                            )
and                                         )
            Martin Clarke                   )      /s/ Martin Clarke
            Director                               -----------------
                                            )      Director

THE COMMON SEAL OF LOMBARD                  )
NATWEST DISCOUNTING LIMITED                 )
was affixed to this Deed                    )
in the presence of:                         )

            Robert J. Smith
            Director                        )        /s/ Robert J. Smith

            S.J. Harper
            Authorised Signatory            )        /s/ S.J. Harper

<PAGE>

                                  THE SCHEDULE

1.       NAME AND REGISTERED OFFICE OF THE VENDOR:

         Mobile Plant Limited.
         4 Faraday Court
         Rankine Road
         Basingstoke
         Hampshire. RG24 OPF.

                                    REGISTERED NO.02687500.

2.       COMMENCEMENT DATE:         21st October 1996

3.       COMMISSION RATE:     0.6%.

4.       DISCOUNTING CHARGE RATE - OVER NATIONAL WESTMINSTER
         BANK PLC BASE RATE:  2%

5.       RECEIVABLES WITHIN CREDIT LIMITS WHICH ARE NOT APPROVED:

         a)       Receivables in respect of sales to associated companies, sales
                  subject  to sale or return,  maintenance  sales cash sales and
                  credit card sales.

         b)       The  first (pound)25  of  receivables  taken in order of their
                  respective invoice dates owing by any one  customer at any one
                  time; and

         c)       20% of the remaining balance.

6.       DISCRETIONARY LIMIT:     (pound)2,000.

7.       VENDOR'S TERMS OF SALE:  30 days.

8.       DAY OF MONTH RETURNS ARE DUE BY:   By 15th day of month following.

9.       BASIS ON WHICH  ANALYSIS OF  RECEIVABLES  IS TO BE AGED:  From  invoice
         date, separately identifying  outstanding amounts by customer,  showing
         customer balances as follows: total, up to 30 days old, 31-60 days old,
         61-90 days old, 90 days plus old,  plus a summary  ageing of the totals
         of each of these categories.

10A.     SPECIAL CONDITIONS:

(i)      Prior to  commencement, LND are  to  receive  Personal  Guarantees Re:
         Breach of Warranties from Michael J. Neame  and  Martin  Clarke and the
         corporate guarantee of Lapland U.K. Limited.

(ii)     Prior  to  commencement,  LND are to  receive  a waiver  from  National
         Westminster  Bank Plc in  respect  of the book  debts of Mobile  Planet
         Limited in a form satisfactory to LND.

(iii)    Sales  to  associated  companies,  salts  subject  to sale  or  return,
         maintenance  sales, cash sales and credit card sales are to be excluded
         from the invoice Discounting Agreement.

(iv)     LND are to receive  monthly  management  accounts  within four weeks of
         month end, commencing with month ended 31st August 1996.

(v)      LND are to register a fixed charge over the book debts. (pound)250 +VAT
         to be charged upon commencement in this respect.

(vi)     LND to have sight of and satisfaction  with certified  figures of Mtech
         Partnership within four weeks of commencement.

10B.     OPERATIONAL REQUIREMENTS:

(i)      LND will waive the standard  requirement  for copy invoices  subject to
         the provision of suitable sales day book and credit note listings.

(ii)     A monthly bank reconciliation is to be maintained.

(iii)    Invoices must not be discounted until the goods have been despatched.

(iv)     LND require confirmation that duplicate sales ledger records are backed
         up daily and stored off site at all times.

(v)      Sales invoicing to be cross referenced with delivery documentation.

(vi)     Aged analysis  reports to be produced on an aged by invoice date basis,
         showing  invoices and total  balance aged  correctly.  Aged debtors and
         aged creditors to be produced as two distinct listings.

(vii)    Excluded sales to be ledgered separately.

11.      COUNTRIES:        United Kingdom.

12.      APPROVED CURRENCIES:       Sterling (pound).INVOICE DISCOUNTING AGREEMENT

AN AGREEMENT made the 10th day of  October 1996

BETWEEN

1.   The person whose name and address is set out in the schedule hereto and who
     is there described as the Vendor ("the Vendor") and

2.   LOMBARD NATWEST  DISCOUNTING  LIMITED of Smith House Elmwood Avenue Feltham
     Middlesex ("LND")

WHEREBY it is agreed as follows:

1.   The  Agreement  shall  commence on the date  specified  in the schedule and
     shall  continue  until  terminated  by either  party by not less than three
     months' written prior notice.

2.   (a) The Vendor shall sell with full title  guarantee and LND shall purchase
         free  from  all  charges  liens and  other  encumbrances  and  upon the
         terms  hereof  all Receivables; subject to such  exceptions as may from
         time to time be specified by LND.

     (b)  The  purchase of any  Receivable  shall be complete  and the rights to
          such  Receivable  shall vest in LND upon that  Receivable  coming into
          existence.

     (c)  "Receivables" means all the book debts, invoice debts, accounts notes,
          bills,  acceptances and/or other forms of obligation owned by or owing
          to the Vendor which are in existence  at the date of  commencement  of
          this  Agreement  or which come into  existence  during the currency of
          this Agreement in respect of contracts  entered into by the Vendor for
          the sale of goods or the provision of services in the ordinary  course
          of business to customers in countries as set out in the schedule,  and
          which are  payable  in the  United  Kingdom  in any of the  currencies
          specified in the schedule ("the Approved Currencies"),  and shall also
          include all the Vendor's  rights under the contract  concerned  and in
          the  goods  the  subject  matter  of  that  contract.   [However,  the
          expression  does  not  include  a sum  payable  in full in the  United
          Kingdom  prior  to  the  despatch  of the  goods  or  payable  against
          documents under an irrevocable letter of credit confirmed by a bank In
          the United Kingdom before  despatch of the goods.  For these purposes,
          "despatch" is deemed to be made when the Vendor parts with  possession
          of  goods  in any  way  for  the  purpose  of  transmitting  them to a
          customer.)

     (d)  The purchase  price,  which shall be payable as herein provided by LND
          to the Vendor, for any Receivable  purchased in accordance with Clause
          2(a) shall be the full amount payable by the Vendor's customer for the
          goods or services to which the Receivable  relates  (together with any
          VAT,  tax or other impost  payable in respect  thereof) as notified by
          the Vendor to LND less:

          (i)  any discount  commission or other  allowances due or allowable to
               the customer and shown on the relevant invoice; and

          (ii) the Discounting Charge

          and shall be payable,  (subject  as set out below) in the  currency in
          which the Receivable is expressed.

     (e)  All sales of Receivables made hereunder shall be absolute sales.

     (f)  "United  Kingdom"  means  the  United  Kingdom  of Great  Britain  and
          Northern Ireland, the Isis of Man arid the Channel Islands.

3.   Subject to the  provisions of the  Agreement  and  compliance by the Vendor
     with  Clause  9(b)(vi)  LND  shall  remit  (and  at any  time  at the  sole
     discretion  of LND it may  remit)  to the  Vendor  any part of the  balance
     standing at the credit of any of the Receivables  Purchased  Accounts up to
     the full amount  thereof less any amount  which LND in its sole  discretion
     requires as a  retention.  Any balance  which may stand at the debit of the
     Vendor on a Receivables Purchased Account shall be payable by the Vendor to
     LND on demand. LND will notify the Vendor from time to time of the basis on
     which it  proposes  to  exercise  its  discretion  under  the terns of this
     clause.

4.   (a) Receivables  Purchased Accounts will be maintained by LND in respect of
         each of the Approved Currencies to which will be credited:

          (i)  the full  purchase  price (as defined in Clause 2(d) but ignoring
               the  Discounting  Charge)  of  all  Receivables  payable  in  the
               relevant currency advised to LND;

          (ii) any costs or expenses recovered by LND under Clause 13 (expressed
               in the  relevant  Approved  Currency If actually  recovered  in a
               different currency);

         (iii) any amount  paid by the Vendor to LND under this  Agreement  (but
               shall  not  include  any  monies  remitted  to LND  under  Clause
               9(b)(viii))  expressed  in  the  relevant  Approved  Currency  if
               actually recovered in a different currency;

          and to which will be debited (so far as the same relate to Receivables
          denominated in the Approved Currency concerned):

          (iv) all  payments  made to the  Vendor by LND under the terms of this
               Agreement;

          (v)  the full value of all credit notes issued by the Vendor;

          (vi) the  amount of any  Receivables  which  LND  gives  notice to the
               Vendor to repurchase under Clause 15;

         (vii) the  amount of any sum  payable by the  Vendor  under  Clauses 6,
               11(b)(i), 11(b)(ii) and 13;

        (viii) the amount of any  payment  cost  damage or  liability   made  or
               sustained by LND arising directly or indirectly in consequence of
               any breach of warranty or  undertaking  by the Vendor or of steps
               reasonably  taken by LND to mitigate  such payment cost or damage
               or liability;

          (ix) a  Discounting  Charge  which  will  be  calculated  at the  rate
               specified  in the  schedule  each  day on the net  daily  balance
               standing  at the debit of the  Memorandum  Discounting  Statement
               referable to the relevant Approved Currency and will be recovered
               by  deduction  from  the next  payment  by LND to the  Vendor  in
               respect of sums payable in the relevant Approved Currency;

          (x)  a  Commission  Charge in  accordance  with Clause 5 which will be
               debited on the last  working day of each month and  recovered  by
               deduction as set out in paragraph (ix) above.

     (b)  Memorandum  Discounting  Statements in respect of each of the Approved
          Currencies  will be maintained by LND for the purpose of  calculating.
          Discounting Charges to which shall be credited:

          (i)  all  payments  received  in respect of  customer  payments in the
               relevant currency as described in Clause 9(b)(viii);

          (ii) any payments  received in the relevant  currency direct by LND in
               respect of the Receivables purchased under this Agreement;

          (iii) any amount paid by the Vendor to LND in the relevant currency;

          (iv) any amount that falls to be credited to the relevant  Receivables
               Purchased Account at Clause 4(a)(ii) above;

          (v)  any amount paid in the  relevant  currency by any other person to
               LND under Clause 11(b);

          and to which will be debited (so far as the same relate to Receivables
          denominated in the Approved Currency concerned);

          (vi) sill  payments  made to the Vendor by LND under the terms of this
               Agreement;

         (vii) the amount of any sum payable by the Vendor to LND under  Clauses
               11(b)(i), 11 (b)(ii) and 13;

        (viii) the amount of any sum payable under Clause 4(a)(viii) above;

          (ix) the  amount of any  cheque  or other  instrument  credited  under
               Clauses 4(b)(i); 4(b)(ii); 4(b)(iii); 4(b)(iv); and 4(b)(v) above
               where such cheque or, instrument is dishonoured;

          (x)  a Discounting Charge as described at Clause 4(a)(ix) above;

          (xi) a Commission Charge as described at Clause 4(a)(x) above.

     (c)  At the end of each month LND will send to the Vendor copies of each of
          the  Receivables   Purchased  Accounts  and  each  of  the  Memorandum
          Discounting Statements.

5.   LND shall be  entitled  to charge the Vendor a  commission  which  shall be
     calculated as being the percentage  specified in the Schedule hereto of the
     gross amount of Receivables  sold to LND in each month. All such commission
     charges  shall be subject to applicable  Value Added Tax at the  prevailing
     rate.

6.   Where any  Receivable  purchased by LND remains unpaid whether wholly or in
     part after payment thereof has become due or where at any time the customer
     disputes  liability  for payment or asserts any right of lien  retention or
     setoff the Vendor  shall on demand pay to LND the full  amount or the whole
     of the unpaid amount of that Receivable.

7.   (a) The Vendor  shall at its own expense and if so requested by LND execute
         a separate  assignment, in writing to LND of any Receivable sold to LND
         in accordance  with  this Agreement  and of any rights which the Vendor
         may have in relation thereto.

     (b) If in relation to any  Receivable it is not possible for LND to take  a
         separate  assignment of the Receivable as sot out in  sub-clause (a) of
         this Clause 7, the Vendor will  continue  to hold  such  Receivable  in
         trust for LND and any  payments  received in  respect  thereof  will be
         immediately paid to LND.

8.   (a) The  Vendor  shall  not grant any  fixed or  floating  charge  over any
         existing  or  future  Receivables  of  the  Vendor  and  shall  procure
         the exclusion of such Receivables from any charge in which  they  would
         otherwise be comprised.

     (b) The  Vendor  shall  not  assign  charge or in any way  dispose  of the
         benefit of this  Agreement  without the express  consent in writing of
         LND.

     (c) During the currency of this  Agreement the Vendor or if applicable its
         parent  subsidiary  or  associated  company  shall not enter  into any
         agreement for the charging or discounting of its  Receivables  without
         the express consent of LND.

9.   (a) The Vendor hereby  warrants to LND that in relation to each  Receivable
         sold  hereunder  by the  Vendor to LND and so that this  warranty shall
         be deemed to be repeated on each  occasion on which the Vendor makes an
         advice of Receivables to LND:

         (i)   the goods have been duly delivered or the services duly provided;

         (ii)  no other  person has an  interest  in or any charge lien or other
               encumbrance on the Receivable to which the advice relates;

        (iii)  the  Receivable  is an existing and bona fide  obligation  of the
               Vendor's  customer  arising  out  of the  sale  of  goods  or the
               provision of services by the Vendor in the ordinary course of its
               business;

         (iv)  the Vendor is not then in breach of any of its obligations to the
               customer  and the  customer  will  accept  the goods  sold or the
               services  provided and the invoices  therefor (or if the customer
               is  bankrupt  or  in  liquidation   the  customer's   trustee  in
               bankruptcy  or  liquidator  will  accept  a proof of debt for the
               unpaid  balance of the  invoiced  price)  without  any dispute or
               claim whatsoever (whether  justifiable or not) including disputes
               as  to  price,   terms,   quantity,   or   quality,   setoffs  or
               counter-claim or claims of release from liability or inability to
               pay  because of any act of God or public  enemy or war or because
               of the  requirements  of law  (whether  in the United  Kingdom or
               elsewhere) or of rules, orders or regulations having the force of
               law;

          (v)  the  customer  is  not a  subsidiary,  co-subsidiary,  parent  or
               associated  company of the Vendor or under the same  director  or
               shareholder control as the Vendor;

          (vi) the customer has obtained all the authorities necessary under the
               regulations  in  force in the  country  to which  the  goods  are
               despatched or services  rendered,  or from which payment is to be
               made,  in order to pay the  Receivables  in  accordance  with the
               contract of invoice;

         (vii) the contract with the customer  specifies the nature and quantity
               of the goods or services and the terms and currency of payment;

        (viii) the  customer's  authority  to  import  the goods or receive  the
               services and to pay for them is not subject to  conditions  as to
               the export of other  goods from any  country or as to payment for
               such other goods when so exported;

          (ix) the  goods or  services  are to be or have  been  exported  to or
               rendered in and payment Is to be made from the customers  country
               of residence; and

          (x)  the  contract  for the  sale of goods or  provision  of  services
               between  the Vendor and its  customer  shall be  expressed  to be
               governed by and  construed  in  accordance  with English law, and
               such  choice of law is in all  respects  valid and binding on the
               customer.

     (b)  The Vendor hereby  undertakes with LND so that this undertaking  shall
          continue throughout the term of this Agreement:

          (i)  promptly  to perform  all further or  continuing  obligations  of
               whatsoever  nature of the Vendor to the  customer  arising out of
               the sale of goods or the  provision  of  services  as a result of
               which any Receivable comes into existence;

          (ii) on request by LND to give notice to the Vendor's  customers or to
               such  of  them  as  LND  shall  direct  that  the  right  to  the
               Receivables   specified   in  such  notice   (which  may  include
               Receivables  which  have not yet come  into  existence)  has been
               assigned  to LND,  such  notice  to be in such  form as LND shall
               require;

         (iii) to  disclose  to LND any  change  or  prospective  change  in the
               constitution  or  control  of the  Vendor  and any other  fact or
               matter  known to the Vendor  which is  material  to be known by a
               purchaser of the Receivables:

          (iv) in respect of every  Receivable  (but only after  delivery of the
               relevant  goods or the  provision  of the  relevant  services) to
               complete  and  deliver to LND an advice  form  supplied  for such
               purpose by LND signed by an authorised official. The Vendor shall
               also remit any such other documents in support of each Receivable
               as LND may require;

          (v)  that all entries  relating to the sale of any  Receivable  by the
               Vendor to LND are duly recorded in the books of the Vendor and to
               ensure that all  accounts  maintained  in the books or records of
               the  Vendor  in the  names of its  customers  bear a  conspicuous
               notation that they have been assigned to LND;

          (vi) in relation to each of the Approved  Currencies to send to LND by
               the day of each month  specified  in the Schedule and in a manner
               approved  by LND and  made up to the  last  day of the  preceding
               month:

               (a)  an aged analysis of the Receivables sold to LND which remain
                    outstanding  at that date such  analysis  being  aged on the
                    basis   specified  in  the  Schedule  by  invoice  date  and
                    identifying  those accounts which are either  disputed or in
                    solicitors' hands;

               (b)  a  copy  of  the  Sales  Ledger  Account   relating  to  the
                    Receivables purchased by LND under this Agreement;

         (vii) to allow  LND and its  authorised  agents  at  regular  intervals
               determined  by LND and at such other times as LND shall decide to
               visit the premises of the Vendor to inspect  check and verify all
               books records  accounts orders and  correspondence  and any other
               papers of the  Vendor  that LND may  require.  The  Vendor at the
               request of LND  will supply LND with  statements of its financial
               position and results of its operations  certified by the Vendor's
               auditors;

        (viii) the Vendor as trustee for LND will  hold and  keep  separate from
               any other monies of the Vendor all remittances  received by it in
               payment of any Receivable  which has been sold to LND. The Vendor
               will immediately pay all remittances endorsed where required:

               (a)  direct to the account of LND at the bankers of LND, or

               (b)  into a trust account in the name of LND.

10.  The Vendor hereby irrevocably:

     (a)  authorizes  LND to  endorse  the  name  of the  Vendor  on any and all
          cheques or other forms of remittance  received where such  endorsement
          is required to effect collection or to perfect LND's title as a holder
          in due course or for any other reason;

     (b)  appoints  LND the attorney of the Vendor to execute in the name and on
          behalf of the Vendor any assignment requested under Clause 7.

11.  (a)  On purchase by LND of any Receivable then any  title,  property, right
          or  Interest  of the  Vendor  in the  goods to which  such  Receivable
          relates  (including all such goods that may be rejected or returned by
          the customers of the Vendor), all the Vendor's rights as unpaid Vendor
          and all other rights of the Vendor  under the  contract  or  contracts
          pursuant to which the Receivable  comes into  existence  (whether such
          rights be created by contract,  statute or other rule of law) shall be
          deemed to be assigned and transferred to LND absolutely whether or not
          the goods shall have been  delivered  by the Vendor at the time of the
          said purchase.

     (b)  Any goods  recovered by or on behalf of the Vendor in pursuance of the
          exercise  of any rights  referred to in  subclause  (a) of this Clause
          shall be treated as  returned  goods and all  returned  goods shall be
          promptly notified to LND and shall be set aside marked with LND's name
          and held for LND's  account as owner.  LND shall (in  addition  to and
          without  prejudice  to any other rights it may have) have the right to
          take  possession of and to sell or cause to be sold without notice any
          returned  goods at such prices to such  purchasers and upon such terms
          and  conditions as it may deem  advisable and in the event of any such
          sale the Vendor shall pay to LND on demand (and without  asserting any
          right of set-off):

          (i)  the difference  between the amount of the Receivable  relating to
               such goods and the amount received by LND on any such sales; and

          (ii) any costs and expenses  (including legal fees) incurred by LND in
               relation to any such repossession and sale.

     (c)  On purchase by LND of any  Receivable  then  without  prejudice to the
          generality of the provisions of sub-clause  (a) of this Clause,  there
          shall  vest  in  LND  the  benefit  of  all  guarantees,  indemnities,
          insurances and securities given to or held by the Vendor in respect of
          such Receivable or of goods or services to which it relates.

12.  LND  shall  not be liable to the  Vendor  for the  amount of any  discount,
     commission  or  allowance  wrongly  claimed or deducted by the  customer in
     respect of any Receivable unless and until such amount has been received by
     LND.

13.  On or after the making of a request by LND under Clause  9(b)(ii) LND shall
     have the sole right of  collecting  and  enforcing  payment of  Receivables
     (other than those  re-assigned  after payment of the  repurchase  price) in
     whatever manner it may in its absolute  discretion  decide,  whether or not
     the Vendor has been  debited  with the  amount of the  Receivables  and the
     Vendor shall  cooperate to procure such  collection  and  enforcement.  The
     conduct of any  proceedings  shall be with LND who may (where  necessary in
     the name of the Vendor)  Institute,  compromise,  settle  abandon or in any
     manner  whatsoever  conduct such  proceedings upon such terms as LND in its
     sole  discretion  shall decide and the Vendor shall be bound by all acts of
     LND under  this  Clause.  The  Vendor  shall be  responsible  for and shall
     forthwith on demand pay all costs charges and expenses of whatsoever nature
     Incurred by LND under this Clause.

14.  LND shall be entitled to debit the relevant Receivables  Purchased Accounts
     and Memorandum Discounting Statements with and/or setoff against any monies
     payable  to the  Vendor  any sums  payable  by the  Vendor in the  relevant
     currency to LND whether for debt or liquidated or unliquidated  damages and
     whether payable presently or contingently.

15.  (a) Should the Vendor at any time  commit any breach of this  Agreement  or
     become insolvent or pass a resolution for member's  voluntary winding up or
     call any meeting of creditors or should the Vendors income or assets or any
     part  thereof  be seized  under any  execution  of legal  process  or under
     distress  for rent  then LND may  determine  this  Agreement  forthwith  by
     written  notice  delivered  or posted to the  Vendor at the  address of the
     Vendor  stated in the Schedule or at the Vendor's  Registered  Office or at
     any other  address at which the Vendor  carries  on  business.  At any time
     after the termination of the Agreement pursuant to this Clause LND shall be
     entitled  by notice to require  the Vendor to  repurchase  at face value so
     much of any receivable  purchased by LND as then remains outstanding but so
     that LND shall remain legal and beneficial  owner of the  Receivable  until
     the repurchase price has been paid;

     (b)  At any  time  after  giving  notice  as set out  above,  LND  shall be
          entitled (but not obliged) to combine and  consolidate the Receivables
          Purchased   Accounts  and  (separately)  the  Memorandum   Discounting
          Statements relating to Receivables denominated in different currencies
          and, in so doing,  shall  convert the sums  concerned  into  sterling.
          Further,  any  payment  made by the  Vendor to LND in  respect  of the
          repurchase of a Receivable shall be made in sterling  converted at the
          date of actual payment (If LND shall not then have exercised its right
          to  combine  accounts  set out  above)  or at the date on  which  such
          combination took place.

16.  "Insolvency"  means,  in the case of an individual or partnership  firm the
     commencement of the bankruptcy of the individual or firm and in the case of
     a company  the  commencement  of  winding  up of the  company  by reason of
     inability  to pay its  debts as they  fall due or in  either  such case the
     appointment  of a  Receiver  of any part of the  income  or  assets  of the
     individual  firm or company or the making of an  arrangement or composition
     with creditors whichever event first occurs.

17.  All  conversions  from one  currency  to  another  required  in  connection
     herewith  (whether for the purposes of accounting or payment) shall be made
     at the  prevailing  spot rate for the purchase of the second  currency with
     the first,  as at 11 a.m. on the date of conversion,  as quoted by National
     Westminster Bank plc.

18.  LND's rights under this Agreement shall not be affected by the grant of any
     time or  indulgence  to the  Vendor or to any  customer  or any  failure to
     exercise or delay in exercising any right or option  available  against the
     Vendor any customer or any other person nor by any step taken by LND.

19.  The terms set out in this Agreement represent the whole of the terms agreed
     between LND and the Vendor to the exclusion of any prior or contemporaneous
     statements on the part of LND whether expressed or implied and whether oral
     or in writing.

20.  The Vendor will bring the terms of this  Agreement to the  attention of its
     auditors for the time being, and authorizes LND to disclose to its auditors
     for the time being such  information  relating  to this  Agreement  and its
     operation as its auditors shall from time to time request.

21.  This  Agreement  and any purchase of a  Receivable  pursuant to it shall be
     construed In accordance with and governed by English Law.

22.  For the  purposes of this Clause and Clauses 23 to 31  (inclusive)  of this
     Agreement:

     (a)  the  definition  of  "Insolvency"  contained  in  Clause  16  shall be
          extended  to  include  (in  case  of  a  company)  the  making  of  an
          Administration  Order  pursuant to the  Insolvency Act 1986 and in the
          said definition (in the case of an individual, partnership or company)
          the expressions  "arrangement" and "composition" shall be construed as
          meaning the taking effect of a Voluntary  Arrangement  pursuant to the
          said Act;

     (b)  the definition of "Receivables"  contained in Clause 2(c) hereof shall
          be  extended  to  include  (where  the  context  so  admits)  part  of
          Receivables;

     (c)  the  following   expressions  shall  have  the  meanings  respectively
          assigned to them below:

          "Approved Receivable"

          a Receivable which:

               (i)  is for the time being (when  aggregated with all Receivables
                    owing by the same  customer  at such  time)  within a Credit
                    Limit; and

               (ii) is not at any time the  subject  of any breach by the Vendor
                    of any warranty,  undertaking or other obligation  contained
                    In this Agreement; and

              (iii) does not rank as an  Unapproved  Receivable by reason of any
                    of the provisions of Clause 28; and

               (iv) is not a Receivable of the class or description described in
                    section 5 of the Schedule hereto;

          "Credit Limit"

          a limit  established by LND in its absolute  discretion in relation to
          any  customer  or  prospective   customer  of  the  Vendor  (following
          application  for such limit by the  Vendor in such  manner and on such
          form  as LND may  from  time to time  prescribe)  for the  purpose  of
          determining whether any Receivable is an Approved Receivable;

          "Delivery"

          in relation to Goods,  the placing in transit to the  Customer  from a
          place in the United  Kingdom  and,  in  relation  to  services,  their
          completion;

          "Discretionary Limit"

          a Discretionary  Limit prescribed by LND for the purposes of Clause 24
          hereof;

          "Date of Insolvency"

               (i)  in the case of  bankruptcy,  winding  up by the  Court or an
                    administration  order  the  date  of the  bankruptcy  order,
                    winding up order or administration order respectively by the
                    Court having jurisdiction;

               (ii) in the case of voluntary  winding up of a company:  the date
                    of the  resolution  for  winding  up by the  members  of the
                    company;

              (iii) in the case of the  appointment  of a  receiver  the date of
                    his appointment;

               (iv) in the  case of an  arrangement:  the  date  when  it  takes
                    effect;

          "Due Date"

          in  relation to a  Receivable-  the date on which it is due to be paid
          pursuant to the contract of sale or for  services  giving rise to such
          Receivable;

          "Unapproved Receivable"

          any Receivable which is not an Approved Receivable or which shall have
          ceased to be an  Approved  Receivable  by reason of any  breach by the
          Vendor of any  warranty,  undertaking  or other  obligation  contained
          herein or pursuant to the provisions of Clause 28;

          "VAT Bad Debt Regulations"

          the  provisions  for the  refunding  of value added tax  contained  in
          section 11 of the  Finance Act 1990 and the VAT (Refund for Bad Debts)
          Regulations 1991 (ST 19911371);

     (d)  The  description of a Receivable as "Eligible for a Refund" shall mean
          that,  but for its  assignment  to LND,  the VAT Bad Debt  Regulations
          would  apply  to such  Receivable  and  that it  remains  an  Approved
          Receivable and  outstanding  and vested Ian LND on or after the expiry
          of the  period  necessary  for an unpaid  debt to be the  subject of a
          claim under the VAT Bad Debt Regulations; and

     (e)  The  expression  "Goods" shall where the context so admits include any
          services,

23.  (a) No Credit  Limit shall be in effect  until  written  notice  thereof on
         LND's official form shall have been received by the Vendor.

     (b)  LND may (in its absolute  discretion) by oral or written notice to the
          Vendor  at any time  reduce or cancel  any  Credit  Limit and any such
          change  shall  take  immediate  effect  except  that no  reduction  or
          cancellation shall affect any Receivable which:

          (i)  shall have arisen from the  Delivery of Goods  before the receipt
               by the Vendor of notice of such cancellation or reduction; and

          (ii) was at the time of such receipt within such Credit Limit,

     (c)  Where  two or more  Receivables  are owing by the same  customer  they
          shall be treated as falling  within any Credit Limit  relating to that
          customer in the order of their respective Due Dates.

     (d)  When  Approved  and  Unapproved  Receivables  are  owing  by the  same
          customer (except as provided in Clause 23(e)) LND shall have the right
          to  appropriate  any  payment  made by the  customer  and  any  monies
          received from a guarantor or  indemnifier in respect of the customer's
          obligations  and any credit or allowance  granted by the Vendor to the
          customer in satisfaction of any Approved Receivable in priority to any
          Unapproved  Receivable  owing  by that  customer  notwithstanding  any
          contrary appropriation by the customer.

     (e)  After the Date of  Insolvency  of any  customer  any dividend or other
          benefit  received by LND in reduction of any  Receivable  owed by such
          customer  shall  be   appropriated  to  the  Approved  and  Unapproved
          Receivables proportionately in accordance with the amounts of Approved
          and  Unapproved  Receivables  owing  by the  customer  at the  Date of
          Insolvency.

24.  (a)  LND may in its  absolute  discretion  by written  notice to the Vendor
          authorise  the Vendor itself to establish in relation to any  customer
          a Credit Limit not  exceeding the  Discretionary  Limit stated in such
          notice.   The  Vendor shall  exercise due care  and  prudence  in  the
          establishment of every Credit Limit pursuant to this Clause.

     (b)  LND may at any  time in its  absolute  Discretion  by  written  or cal
          notice to the Vendor increase reduce or cancel the Discretionary Limit
          and such variation or cancellation shall take effect forthwith and any
          such reduction or cancellation  shall have the effect of an equivalent
          reduction or cancellation (in accordance with the provisions of Clause
          23(b)) in every Credit Limit established  pursuant to Clause 24(a) and
          remaining  in  existence  at the time of the receipt of such notice by
          the Vendor.

25.  (a)  The  establishment  of any  Credit  Limit by LND shall not  import any
          responsibility  or  liability  on  the  part  of LND  save  as  speci-
          fically provided in this  Agreement  and  LND shall  not be obliged to
          provide for the Vendor any information or reason on the basis of which
          any  Credit  Limit shall have been established, varied or withdrawn.

     (b)  The Vendor hereby undertakes that it shall not at any time disclose to
          any  customer  or any third  party the amount of or the absence of any
          Credit Limit in relation to such customer and to indemnify LND against
          all losses  costs  damages  claims  interest  and expense that LND may
          suffer  or  incur  by  reason  of  any  breach  by the  Vendor  of the
          provisions of this Clause.

26.  (a)  The Vendor shall promptly disclose to LND any fact or matter which the
          Vendor knows or should reasonably  have known might  influence  LND in
          its decision  whether to establish, reduce or cancel any Credit  Limit
          or the Discretionary Limit.

     (b)  Every  advice  form  remitted  to  LND  by  the  Vendor   pursuant  to
          Clause9(b)(iv)  shall be deemed to  constitute  a warranty  that every
          Receivable  included  in such  advice  form shall have  arisen  from a
          contract of sale or for  services  which  provides  for payment by the
          customer on terms not more liberal  than those  specified in section 7
          of the Schedule hereto.

     (c)  The Vendor  hereby  undertakes  to exercise  such care and prudence in
          granting credit to and withholding credit from its customers and to do
          such things  (including any requisite legal  proceedings) in procuring
          or  attempting  to  procure  payment  of all  Receivables  as would be
          exercised  and done by a  reasonably  careful and prudent  supplier of
          Goods  of the  nature  of  those  sold by the  Vendor.  In  particular
          (without  prejudice to the  generality  of the  foregoing)  the Vendor
          shall not  (without  the prior  written  consent  of LND)  effect  the
          delivery of further Goods to any customer when any Receivable owing by
          that customer shall remain unpaid after the sixtieth day after the Due
          Date of such  Receivable  or when the Vendor has  knowledge  that such
          customer is in financial difficulties.

27.  In addition  to and  without  prejudice  to LND's  rights and the  Vendor's
     obligations  pursuant to Clauses  9(b)(vi) and 13 hereof the Vendor  hereby
     undertakes:

     (a)  that, if any Receivable  shall not be paid within sixty days after its
          Due  Date  or in the  event  that  the  Vendor  has  knowledge  of the
          financial  difficulties or threatened Insolvency of any customer,  the
          Vendor  shall notify LND (in such form and manner as LND may from time
          to time  prescribe)  within  ten days of the end of such sixty days or
          such  event as the case  may be  giving  full  details  of the  unpaid
          Receivables and the  circumstances  giving rise to such  notification;
          and

     (b)  at any time after  such  notification  to do such  things and to take,
          continue, discontinue or abandon such proceedings as LND may prescribe
          for the purpose of enforcing  payment of and collecting  such Approved
          Receivable; and

     (c)  upon the Date of  Insolvency  of any  customer  by which any  Approved
          Receivable shall be owing:

          (i)  immediately  to notify  LND (in such  form and  manner as LND may
               from time to time  prescribe) of the nature of the Insolvency and
               the   particulars  of  the  Receivables   (whether   Approved  or
               Unapproved)  which shall be owing by any  customer at the Date of
               Insolvency; and

          (ii) in the absence of notice to that customer in accordance  with any
               request by LND  pursuant to Clause  9(b)(Ii) and except where the
               provisions of Clause 30(b) apply promptly to submit proof of debt
               in respect of such Approved Receivable in the insolvent estate of
               such  customer  and  (whether or not such notice  shall have been
               given) to give to any person,  who has the duty to administer the
               insolvent  estate of such customer,  irrevocable  instructions in
               such form as LND shall  require that any  dividends or other sums
               of money  payable  out of such  estate in respect of any proof or
               claim by the  Vendor  or LND in or  against  the  estate  of such
               customer shall be paid only to LND; and

     (d)  upon and after the Date of  Insolvency  of any  customer  by which any
          Approved  Receivable  shall  be  owing  (m  addition  to  and  without
          prejudice to the provisions of Clause 27(c)) to take such other action
          as  shall  be  available  to the  Vendor  and to  execute  such  other
          documents as shall be requisite (and, if so required by LND, in either
          case as  instructed by LND) for the purpose of procuring any dividends
          from the estate of such  customer  for the benefit of LND or otherwise
          recovering payment of such Receivable or mitigating any loss which LND
          may suffer by reason of such Insolvency.

28.  (a) If at any time the Vendor shall be in breach of any of its  obligations
     pursuant  to this  agreement  in  relation  to any  Receivable  owing  by a
     customer  then any Credit Limit  established  in relation to that  customer
     shall be cancelled  forthwith  without the  requirement  of notice or other
     formality  and all  Receivables  owing by such  customer at such time shall
     rank  as  Unapproved  Receivables  notwithstanding  that  any of  them  may
     previously have been Approved  Receivables.  Following the  cancellation of
     any Credit  Limit in relation to any  customer  pursuant to this clause the
     Vendor shall not apply to LND for the  establishment of any Credit Limit in
     relation to such customer until the breach giving rise to such cancellation
     has been redressed.

     (b)  Any  Receivable  arising from the Delivery of Goods made to a customer
          while any other Receivable owing by such customer remains unpaid after
          the  fortieth  day after the Due Date of such other  Receivable  shall
          rank  as  an   Unapproved   Receivable   (notwithstanding   any  limit
          established  in  relation to such  customer)  until such time as there
          remain no Receivables owing by such customer unpaid after the fortieth
          day after the respective Due Dates of such Receivables.

29.  (a) LND shall refrain from making any demand pursuant to Clause 6 hereof in
     respect of any  Approved  Receivable  until the  sixtieth day after its Due
     Date  and  shall  not  make  any  such  demand  thereafter  so long as such
     Receivable  remains  Approved  and  provided  that the  Vendor  shall  have
     instructed a solicitor approved by LND to take proceedings for the recovery
     (for the benefit of LND) of all sums due for payment by the customer  which
     include such Receivable so that such instructions shall be effective before
     such sixtieth day or such other day as LND shall have agreed in writing.

     (b)  For the  avoidance  of doubt LND shall be  entitled  to  exercise  its
          rights in full  pursuant to Clause 6 hereof in respect of any Approved
          Receivable which subsequently becomes Unapproved.

     (c)  The amount (as advised to LND  pursuant to Clause  9(b)(iv))  of every
          Receivable which shall rank as an Approved Receivable on the thirtieth
          day  after  the Date of  Insolvency  of the  customer  by  which  such
          Receivable  shall  be  owing  shall  be  credited  to  the  Memorandum
          Discounting  Statement on such  thirtieth day.

     (d)  The  amount of every  Receivable  credited  pursuant  to Clause  29(c)
          hereof in respect of which LND shall have  subsequently  exercised its
          rights  pursuant to Clause 6 hereof shall be debited to the Memorandum
          Discounting Statement so that such debit shall be deemed to have taken
          place on the date of the relevant credit.

30.  (a)  The  Vendor  shall  be  liable  on  notice  from  LND  to  accept  the
          reassignment from LND of any Receivable which Is Eligible for a Refund
          and LND  undertakes  to  execute  and  deliver to the Vendor a written
          assignment of any Receivable (the subject of any such notice) of which
          a previous  written  assignment shall have been given by the Vendor to
          LND. In  consideration  of any such  reassignment  of a Receivable the
          Client shall be liable to pay to LND forthwith a sum equivalent to the
          amount  of value  added tax  (included  in such  Receivable)  that the
          Vendor may be able to claim under the VAT Bad Debt Regulations.

     (b)  Upon the  ownership  any  Receivable  which is  Eligible  for a Refund
          becoming  re-vested  in the Vendor then the Vendor  shall use its best
          endeavours to recover any sum of money or other benefit  available for
          the reduction of the amount of such Receivable  including any dividend
          from the estate of the Debtor.  The Client  shall  forthwith  upon its
          recovery  pay to LND such  proportion  of any  such  sum of money  and
          transfer to LND such proportion of any such benefit as shall be due to
          LND pursuant to the provisions of Clause 23(e). Pending its payment of
          transfer  the  Vendor  shall hold the said  proportion  of such sum of
          money or benefit in trust for LND.

     (c)  Notwithstanding  and without  prejudice  to the  Vendor's  obligations
          pursuant to Clause 30(b) LND shall be at liberty to complete and lodge
          in the Vendor's name a proof or statement of debt in the Insolvency of
          the customer in relation to any  Receivable  reassigned  to the Vendor
          pursuant to Clause 30(a).

31.  Where in any place  outside  England  and Wales  the  meaning  of a word or
     expression  used in this Agreement is to be considered and that  expression
     has no  counterpart  in that place then that  expression  shall (unless the
     context  otherwise  requires)  have the meaning of the  closest  equivalent
     thereto in the place concerned.

<PAGE>

The COMMON SEAL of Lapland U.K.       )
Limited was affixed to                )
this Deed in the presence of:         )

          Michael J. Neame
          Director/Company Secretary  )     /s/ Michael J. Neame

          Martin Clarke
          Director                    )     /s/ Martin Clarke

The COMMON SEAL of LOMBARD            )
NATWEST DISCOUNTING LIMITED           )
was affixed to this Deed in the       )
presence of:                          )

          Robert J. Smith
          Director                    )     /s/ Robert J. Smith

          A. Darlings
          Authorised Signatory        )     /s/ A. Darlings

<PAGE>

                                  THE SCHEDULE

1.      NAME AND REGISTERED OFFICE OF THE VENDOR:
        Lapland U.K. Limited.
        4 Faraday Court
        Rankine Road
        Basingstoke
        Hampshire. RG24 0PF.

                            REGISTERED NO. 02520180.

2.      COMMENCEMENT DATE:

3.      COMMISSION RATE:             0.5%.

4.      DISCOUNTING  CHARGE RATE- OVER NATIONAL  WESTMINSTER BANK
        PLC BASE RATE:               2%.

5.      RECEIVABLES WITHIN CREDIT LIMITS WHICH ARE NOT APPROVED:

        a)      Receivables  in  respect  of Cash  sales,  sales  to  associated
                companies,  Mtech Partnership,  proforma sales, sales subject to
                sale or return or evaluation and credit card sales.

        b)      The  first (pound)500  of receivables  taken  in  order of their
                respective  invoice  dates owing by any one  customer at any one
                tinge; and

        c)      20% of the remaining balance.

6.      DISCRETIONARY LIMIT:        (pound)5,000.

7.      VENDOR'S TERMS OF SALE:     30 days.

8.      DAY OF MONTH RETURNS ARE DUE BY: By 15th day of month following.

9.      BASIS ON WHICH ANALYSIS OF RECEIVABLES IS TO BE AGED: From invoice date,
        separately identifying outstanding amounts by customer, showing customer
        balances as follows:  total,  up to 30 days old,  31-60 days old,  61-90
        days old, 90 days plus old,  plus a summary  aging of the totals of each
        of these categories.

10A.    SPECIAL CONDITIONS:

(i)     Prior to commencement, LND are to receive Personal Guarantees Re: Breach
        of Warranties  from Michael J. Neame and Martin Clarke and the corporate
        guarantee of Mobile Planet Limited.

(ii)    Prior  to  commencement,  LND are to  receive  a  waiver  from  National
        Westminster  Bank Plc in  respect  of the book  debts  of  Lapland  U.K.
        Limited in a form satisfactory to LND.

(iii)   Cash sales, sales to associated companies,  sales to Mtech  partnership,
        proforma sales,  sales subject to sale or return & evaluation and credit
        card sales are to be excluded from the Invoice Discounting Agreement.

(iv)    LND are to receive  monthly  management  accounts  within  four weeks of
        month end, commencing with month ended 31 st August 1996.

(v)     LND are to register a fixed charge over the book  debts.(pound)250  +VAT
        to be charged upon commencement in this respect.

(vi)    LND to have sight of and  satisfaction  with certified  figures of Mtech
        Partnership within four weeks of commencement.

10B.    OPERATIONAL REQUIREMENTS:

(i)      LND will waive the standard  requirement  for copy invoices  subject to
         the provision of suitable sales day book and credit note listings.

(ii)     A monthly bank reconciliation is to be maintained.

(iii)    Invoices must not be discounted until the goods have been despatched.

(iv)     LND require confirmation that duplicate sales ledger records are backed
         up daily and stored off site at all times.

(v)      Sales invoicing to be cross referenced with delivery documentation.

(vi)     Aged analysis  reports to be produced on an aged by invoice date basis,
         showing  invoices and total  balance aged  correctly.  Aged debtors and
         aged creditors to be produced as two distinct listings.

(vii)    Excluded sales to be ledgered separately.

11.      COUNTRIES:                 United Kingdom.

12.      APPROVED CURRENCIES:       Sterling (pound).

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