Document:

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                                                                    Exhibit 10.6

THIS AGREEMENT is dated 13th July 2000 and is made BETWEEN:

(1)   GEAC CANADA LIMITED, a limited liability company, incorporated under the
      laws of Canada, having its registered office at Suite 601 4100 Yonge
      Street, Toronto, Ontario, M2P 2G2, Canada ("GEAC CANADA"); and

(2)   GEAC COMPUTER CORPORATION LIMITED, a limited liability company,
      incorporated under the laws of Canada, having its registered office at
      Suite 601 4100 Yonge Street, Toronto, Ontario, M2P 2G2, Canada ("THE
      VENDOR"); and

(3)   INGLEBY (1306) LIMITED (No. 3982820), whose registered office is at 1690
      Park Avenue, Aztec West, Almondsbury, Bristol, BS42 4RA ("NEWCO 1"); and

(4)   SBS INTERNATIONAL HOLDINGS LIMITED (No. 4004867), whose registered office
      is at 1690 Park Avenue, Aztec West, Almondsbury, Bristol, BS42 4RA ("NEWCO
      2").

WHEREAS

(A)   GEAC UK (as defined below) is a private company incorporated in England
      and Wales and limited by shares. The Vendor has agreed to sell and Newco 1
      has agreed to purchase the GEAC UK Sale Shares (as defined below) upon the
      terms and subject to the conditions of this Agreement ("THE GEAC UK
      ACQUISITION");

(B)   GEAC GmbH (as defined below) is a limited liability company, incorporated
      under the laws of Austria. The Vendor has agreed to sell and Newco 2 has
      agreed to purchase the GEAC GmbH Sale Shares (as defined below) upon the
      terms and subject to the conditions of this Agreement ("THE GEAC GMBH
      ACQUISITION").

(C)   The Management Data Subsidiaries (as defined below) are various private
      and limited liability companies, each incorporated in its relevant
      jurisdiction. The Vendor has agreed to sell and Newco 2 has agreed to
      purchase the Management Data Subsidiaries Sale Shares (as defined below),
      upon the terms and subject to the conditions of this Agreement ("THE
      MANAGEMENT DATA SUBSIDIARIES ACQUISITION").

NOW IT IS HEREBY AGREED as follows:

1     DEFINITIONS AND INTERPRETATION

      In this Agreement unless the context otherwise requires:

1.1   GEAC UK SPECIFIC DEFINITIONS

      "ASSURANCE" means assignment or transfer of the relevant Retained Geac
      Property;

      "THE CANNON STREET PROPERTY" means the leasehold property known as part
      12th floor of the Tower Block, 78 Cannon Street, London, EC4 demised by a
      lease dated 21 October 1999 made between MWB (Cannon Centre) Limited (1)
      and Geac Computers Limited (2);

      "GEAC 2" means Geac Computers (2) Limited (Registered No. 4018356);

      "GEAC FINANCIAL INFORMATION" means the historical trading summary and
      analysis by location of the Smartstream Business contained in Part A of
      schedule 11;

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      "GEAC UK" means GEAC Computers Limited (No. 1219434) whose registered
      office is at 1690 Park Avenue, Aztec West, Almondsbury, Bristol, BS42 4RA
      and with further details as set out in Part A of schedule 2;

      "GEAC UK GROUP" means together GEAC UK and the GEAC UK Subsidiary;

      "GEAC UK GROUP COMPANY" means each and any body corporate in the GEAC UK
      Group;

      "GEAC UK PROPERTIES" means the leasehold properties details of which are
      set out in Part A schedule 3;

      "GEAC UK BRISTOL PROPERTY" means the leasehold property at 1690 Park
      Avenue, Aztec West, Almondsbury, Bristol, BS42 4RA;

      "THE GEAC UK REORGANISATION STEP PLAN" means the paper in the agreed form
      setting out the steps in a re-organisation involving, amongst others, GEAC
      UK and the GEAC UK Subsidiary;

      "THE GEAC UK REORGANISATION" means the transactions and other matters
      referred to in the GEAC UK Reorganisation Step Plan and implemented
      pursuant to, inter alia, the GEAC UK Reorganisation Documents;

      "THE GEAC UK REORGANISATION DOCUMENTS" means certain of the documents
      relating to the GEAC UK Reorganisation as listed in schedule 10;

      "THE GEAC UK RESTRICTED PRODUCTS" means all products which are developed,
      produced, distributed or sold in respect of the Smartstream Business at
      the Completion Date being "Smartstream Reconciliations", "Smartstream FX
      Confirmations", "Smartstream ETC", "Smartstream Investigations",
      "Cyberstream Web Enabled", "Smartsteps", "Smartstream Cash Management",
      "Smartstream CCM", "Smartstream Collateral Management", "Smartstream Risk
      Management", "Smartstream Securities Confirmations", "Smartstream CLS",
      "Smartstream GSTPA", "Smartstream STP" and "Smartstream Trade Finance",
      "Smartstream Credit Risk", "Smartstream Payments", "Smarstream Control",
      "Smartstream Securities", "Smartstream Cash", "Smartstream Exceptions",
      "Smartstream Trade" and "Smartstream Workflow";

      "THE GEAC UK RESTRICTED SERVICES" means all services which are supplied in
      respect of the Smartstream Business at the Completion Date being the
      installation, upgrading and customisation of the GEAC UK Restricted
      Products and training in respect of the GEAC UK Restricted Products;

      "GEAC UK SALE SHARES" means 6,000,000 A Tracker Shares being the entire
      issued A Tracker Shares of GEAC UK;

      "GEAC UK SCHEME" means the GEAC Computers Limited Staff Benefits Scheme
      established by a trust deed dated 28 March 1991;

      "GEAC UK SUBSIDIARY" means Generator /400 Limited (registered no.2285524)
      whose registered office is at 1690 Park Avenue, Aztec West, Almondsbury,
      Bristol, BS42 4RA and with further details as set out in Part B of
      schedule 2;

      "GEAC UK WARRANTIES" means the Warranties as to the matters stated in Part
      B of schedule 7;

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      "GEAC UK GROUP WARRANTIES" means the Warranties as to the matters stated
      in Part C of schedule 7;

      "GEAC UK TAX WARRANTIES" means the Warranties as to the matters stated in
      Part F of schedule 7;

      "THE HIGH WYCOMBE PROPERTY" means the leasehold property known as premises
      on Level 2 and part of Level 3 Block A and part Level 3 Block A of the Dun
      & Bradstreet Building, Holmer Farm Way, High Wycombe demised or to be
      demised by the following:

      (a)   Lease dated 31 October 1997 made between Dun & Bradstreet Limited
            (1) Geac Computers Limited (2) and Geac Computer Corporation Limited
            (3); and

      (b)   Agreement for Lease dated 3 April 2000 made between Dun & Bradstreet
            Limited (1) and GEAC UK (2);

      "LEASE" means the lease or agreement for lease if no lease has yet been
      granted of each Retained GEAC Property together with any deeds or
      documents supplemental thereto;

      "THE NESTON PROPERTY" means the leasehold property known as basement and
      ground floor offices at Hinderton Hall, Neston, South Wirral demised by a
      lease dated 22 October 1998 made between Hinderton Estates Limited (1) and
      Phoenix Systems Limited (2);

      "THE NEW HIGH WYCOMBE LEASE" means the lease of premises known as Part
      Level 3 Block A of the Dun & Bradstreet Building, Holmer Farm Way, High
      Wycombe to be granted pursuant to the Agreement for Lease dated 3 April
      2000 made between Dun & Bradstreet Limited (1) and GEAC UK(2) together
      with any documents supplemental thereto;

      "REQUISITE CONSENT" means the consent of a landlord or other third party
      required in order that a Retained GEAC Property may be lawfully assigned
      to GEAC 2;

      "THE RETAINED GEAC PROPERTIES" means together the High Wycombe Property,
      the Cannon Street Property, the Twickenham Property and the Neston
      Property and any other freehold or leasehold property to be transferred to
      GEAC 2 pursuant to the asset sale agreement dated 3 July 2000 made between
      GEAC UK (1) and GEAC 2 (2);

      "REVERSIONER" means any reversioner whether immediate or not in respect of
      any Lease;

      "THE SMARTSTREAM ASSETS" means the Smartstream Fixed Equipment, the
      Smartstream Movable Equipment (including the Smartstream Computer
      Systems), the Smartstream Intangible Assets, the Smartstream Intellectual
      Property, the Smartstream Developed Software, the benefit of the
      Smartstream Contracts and the Smartstream Licences, the Smartstream Third
      Party Rights and all other assets whatsoever used exclusively and
      wheresoever located for the purposes of the Smartstream Business;

      "THE SMARTSTREAM BUSINESS" means the business known as "the Smartstream
      Reconciliations Business" and/or "SSR" at the Completion Date being the
      business of the development, production, distribution and sale of products
      and related services

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      to deliver integrated transaction management solutions to banks and other
      financial institutions to customers worldwide;

      "THE SMARTSTREAM BUSINESS NAMES" means all rights, titles and interest in
      the names "Smartstream Reconciliation", "Smartstream FX Confirmations",
      "Smartstream ETC", "Smartstream Investigations", "Smartstream Cash
      Management", "Smartstream CCM", "Smartstream Collateral Management",
      "Smartstream Risk Management", "Smartstream Securities Confirmations",
      "Smartstream CLS", "Smartstream GSTPA", "Smartstream STP", "Smartstream
      Trade Finance", "Cyberstream Web Enabled", "Smartsteps", "Smartstream
      Credit Risk", "Smartstream Control", "Smartstream Securities",
      "Smartstream Cash", "Smartstream Exceptions" and "Smartstream Trade";

      "THE SMARTSTREAM BUSINESS TRANSFER DATE" means 3 July 2000;

      "THE SMARTSTREAM COMPUTER SYSTEMS" means any computer hardware, software,
      networking equipment or other equipment used exclusively in connection
      with the Smartstream Business which is reliant upon microchip technology
      for one or more of the following purposes:

            (i)   accounting and management information;

            (ii)  payroll;

            (iii) invoicing and credit control;

            (iv)  production or design processes;

            (v)   sales and marketing information;

            (vi)  stock control;

            (vii) communications with customers, suppliers and trading partners
                  in connection with the Smartstream Business or internally
                  within the GEAC UK Group; or

           (viii) any other purpose which is material to the management or
                  operation of the Smartstream Business or the GEAC UK Group;

      "THE SMARTSTREAM CONFIDENTIAL INFORMATION" means trade secrets and
      information equivalent to them (including but not limited to formulae,
      processes, methods, knowledge and Smartstream Know-how) in connection with
      the products developed, produced, distributed and sold and the services
      supplied in connection with the Smartstream Business and the customers and
      suppliers in connection with the Smartstream Business and which are for
      the time being confidential in respect of the Smartstream Business;

      "THE SMARTSTREAM CONTRACTS" means the Smartstream Customer Contracts, the
      Smartstream Supply Contracts and the Smartstream Finance Agreements;

      "THE SMARTSTREAM CUSTOMER CONTRACTS" means all of the contracts,
      agreement, orders, engagements and binding arrangements (whether written
      or oral) in respect of the Smartstream Business and the customers of the
      Smartstream Business for the supply of products or services in relation to
      the Smartstream Business which were subsisting immediately before the
      Smartstream Business Transfer Date;

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         "SMARTSTREAM DEVELOPED SOFTWARE" means any software developed by or on
         behalf of or in connection with the Smartstream Business and used in
         the Smartstream Business or by customers of the Smartstream Business as
         at the date of this Agreement;

         "THE SMARTSTREAM EMPLOYEES" means the persons employed in relation to
         the Smartstream Business immediately before the Smartstream Business
         Transfer Date;

         "THE SMARTSTREAM FIXED EQUIPMENT" means all of the equipment used
         exclusively in the Smartstream Business, wheresoever located,
         immediately before the Smartstream Business Transfer Date;

         "THE SMARTSTREAM FINANCE AGREEMENTS" means the leasing, hire purchase,
         credit sale and other similar agreements relating to equipment used
         exclusively in connection with Smartstream Business;

         "SMARTSTREAM INTANGIBLE ASSETS" means all customer and supplier lists
         maintained by or on behalf of the Smartstream Business (and/or copies
         of the same) on the Completion Date;

         "THE SMARTSTREAM INTELLECTUAL PROPERTY" means all the Intellectual
         Property Rights owned and/or used in connection with the Smartstream
         Business prior to the date of this Agreement;

         "SMARTSTREAM KNOW-HOW" means all industrial and commercial information
         and techniques, (wherever situate) pertaining to the Smartstream
         Business;

         "THE SMARTSTREAM LICENCES" means the benefit of all such licences,
         permits or consents (not falling within the Smartstream Contracts or
         relating to the GEAC UK Properties) as were required in connection with
         the Smartstream Business immediately before the Smartstream Business
         Transfer Date including without limitation in relation to any
         Smartstream Third Party Systems Software;

         "THE SMARTSTREAM MOVABLE EQUIPMENT" means all of the moveable equipment
         (including but not limited to furniture and fittings and motor
         vehicles) used exclusively in the Smartstream Business immediately
         before the Smartstream Business Transfer Date;

         "THE SMARTSTREAM SUPPLY CONTRACTS" means all of the contracts,
         agreements, orders, engagements and arrangements (whether written or
         oral) with suppliers for the supply of products (including software) or
         services in the ordinary course of trading in relation to the
         Smartstream Business subsisting immediately before the Smartstream
         Business Transfer Date;

         "THE SMARTSTREAM THIRD PARTY RIGHTS" means the benefit belonging to
         either member of the GEAC UK Group of:

         (a)  all claims against, or right to make claims against, third parties
              (excluding insurers) in respect of loss of or damage or injury
              caused to the Smartstream Business or any of the Smartstream
              Assets to the extent that such loss, damage or injury had not been
              made good by and at the cost of any Vendor Group Company on or
              before the Smartstream Business Transfer Date;

         (b)  all rights in connection with the Smartstream Business in respect
              of products supplied in connection with the Smartstream Business
              on terms as to

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             retention of title and to which title was retained at the
             Smartstream Business Transfer Date; and

         (c) all claims against, or the right to make any claims against, any
             third party in respect of any goods, equipment or other items in
             respect of the Smartstream Business on or before the Smartstream
             Business Transfer Date and which form part of the Smartstream
             Assets;

         "SMARTSTREAM THIRD PARTY SYSTEMS SOFTWARE" means any software used in
         connection with the Smartstream Computer Systems and/or the Smartstream
         Business, the Intellectual Property Rights in which are owned by a
         third party;

         "THE TWICKENHAM PROPERTY" means the leasehold property known as Remanco
         House (and flat above it) 12/13 Church Street, Twickenham, Middlesex
         demised by two leases both dated 26 September 1985 and both made
         between Speyhawk plc (1) Remanco Systems Limited (2) and Remanco
         Systems Incorporated (3);

1.2      GEAC GmbH SPECIFIC DEFINITIONS

         "THE AUSTRIAN INTER-COMPANY LOAN ASSIGNMENT" means the assignment to
         Newco 2 of Tranche 1 (as defined therein) and Tranche 2 (as defined
         therein) of, inter alia, the Loan (as defined therein) owing by GEAC
         GmbH to the Vendor in the agreed form;

         "GEAC GmbH" means GEAC Computer GmbH, a limited liability company,
         incorporated under the laws of Austria, having its registered office at
         AlthansaBe, 21- 25, 1090 Vienna, Austria and with further details as
         set out in Part C of schedule 2;

         "THE GEAC GmbH PROPERTIES" means the leasehold properties details of
         which are set out in Part B of schedule 3;

         "THE GEAC GmbH RESTRICTED PRODUCTS" means all products which are
         developed, produced, distributed or sold by GEAC GmbH (including in
         respect of the Management Data Business) at the Completion Date
         (including, without prejudice to the generality of the foregoing,
         "Corona", "Comfort", "Hermes", "Ares", "Doc", "Doc CM", "FTMS",
         "Robot", "Nostro", "XMI", "XM", "Sesame", "ACS", "CLS", "Doc Classic",
         "Robot +", "Doc CS", "Tradeconnect", "Tradedesign");

         "THE GEAC GmbH RESTRICTED SERVICES" means all services which are
         supplied by GEAC GmbH (including in respect of the Management Data
         Business) at the Completion Date being the installation, upgrading and
         customisation of the GEAC GmbH Restricted Products and training in
         respect of the GEAC GmbH Restricted Products;

         "GEAC GmbH SALE SHARES" means the entire issued share capital of GEAC
         GmbH, as set out against the name of the Vendor in column (d) of Part B
         of schedule 1;

         "GEAC GmbH WARRANTIES" means the Warranties as to the matters stated in
         Part D of schedule 7;

         "THE MANAGEMENT DATA ASSETS" means the GEAC GmbH Properties, the
         Management Data Fixed Equipment, the Management Data Movable Equipment
         (including the Management Data Computer Systems) and all other assets
         whatsoever used and wheresoever located for the purposes of the
         Management Data Business;

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      "THE MANAGEMENT DATA BUSINESS" means the business known as "the Management
      Data Business" carried on at the Completion Date being the business of the
      development, production, distribution and sale of products and related
      services to deliver integrated transaction management solutions to banks
      and other financial institutions;

      "THE MANAGEMENT DATA BUSINESS NAMES" means all rights, titles and interest
      of Management Data GmbH in the names "Corona", "Comfort", "Hermes",
      "Ares", "Doc", "Doc CM", "FTMS", "Robot", "Nostro", "XMI", "XM", "Sesame",
      "ACS", "CLS", "Doc Classic", "Robot +", "Doc CS", "Tradeconnect",
      "Tradedesign" and "Management Data" and each and every name, title, device
      or logo (including in each case any part, derivative or abbreviation
      thereof) used in connection with the Management Data Business;

      "THE MANAGEMENT DATA BUSINESS TRANSFER DATE" means 1 May 2000;

      "THE MANAGEMENT DATA COMPUTER SYSTEMS" means any computer hardware,
      software, networking equipment or other equipment in connection with the
      Management Data Business which is reliant upon microchip technology for
      one or more of the following purposes:

            (i)   accounting and management information;

            (ii)  payroll;

            (iii) sales and marketing information;

            (iv)  invoicing and credit control;

            (v)   production or design processes;

            (vi)  stock control;

            (vii) communications with customers, suppliers and trading partners
                  in connection with the Management Data Business or internally
                  within GEAC GmbH; or

           (viii) any other purpose which is material to the management or
                  operation of in connection with Management Data Business or
                  GEAC GmbH;

      "THE MANAGEMENT DATA CONFIDENTIAL INFORMATION" means trade secrets and
      information equivalent to them (including but not limited to formulae,
      processes, methods, knowledge and the Management Data Know-how) in
      connection with the products developed, produced, distributed and sold and
      the services supplied in connection with the Management Data Business and
      the customers and suppliers in connection with the Management Data
      Business and which are for the time being confidential in respect of the
      Management Data Business;

      "THE MANAGEMENT DATA CUSTOMER CONTRACTS" means all of the contracts,
      agreement, orders, engagements and arrangements (whether written or oral)
      in respect of the Management Data Business and the customers of the
      Management Data Business for the supply of products or services in
      relation to the Management Data Business which were subsisting immediately
      before the Management Data Business Transfer Date;

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      "THE MANAGEMENT DATA FINANCIAL INFORMATION" means the historical trading
      summary and divisional analysis of the Management Data Business contained
      in Part B of schedule 11;

      "THE MANAGEMENT DATA FIXED EQUIPMENT" means all of the equipment used
      exclusively in the Management Data Business and wheresoever located
      immediately before the Management Data Business Transfer Date;

      "MANAGEMENT DATA KNOW-HOW" means all industrial and commercial information
      and techniques (wherever situate) pertaining to the Management Data
      Business;

      "THE MANAGEMENT DATA LICENCES" means the benefit (so far as capable of
      assignment) of all such licences, permits or consents (not falling within
      the Management Data Supply Contracts or relating to the GEAC GmbH
      Properties) as were required in connection with the Management Data
      Business immediately before the Management Data Business Transfer Date
      including without limitation in relation to any Management Data Third
      Party Systems Software;

      "THE MANAGEMENT DATA MOVABLE EQUIPMENT" means all of the moveable
      equipment (including but not limited to furniture and fittings and motor
      vehicles) used in the Management Data Business immediately before the
      Management Data Business Transfer Date;

      "THE MANAGEMENT DATA SUPPLY CONTRACTS" means all of the contracts,
      agreements, orders, engagements and binding arrangements (whether written
      or oral) between Management Data GmbH and suppliers for the supply of
      products (including software) or services to Management Data GmbH in the
      ordinary course of trading in relation to the Management Data Business
      subsisting immediately before the Management Data Business Transfer Date;

1.3   MANAGEMENT DATA SUBSIDIARIES SPECIFIC DEFINITIONS

      "THE MANAGEMENT DATA SUBSIDIARIES" means together each of:

      Management Data (Deutschland) GmbH, with certain details set out in Part D
      of schedule 2

      Management Data (Schweiz) GmbH, with certain details set out in Part E of
      schedule 2

      Management Data France S.A., with certain details set out in Part F of
      schedule 2

      Management Data Iberia S.L, with certain details set out in Part G of
      schedule 2

      Management Data (UK) Limited, with certain details set out in Part H of
      schedule 2

      Management Data Benelux-Nordic N.V., with certain details set out in Part
      I of schedule 2

      Management Data Italia S.r.L., with certain details set out in Part J of
      schedule 2

      Smartstream Banking Systems (Asia Pacific) Pty Limited, with certain
      details set out in Part K of schedule 2

      Management Data America Inc., with certain details set out in Part L of
      schedule 2

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      African Management Data Pty. Limited, with certain details set out in Part
      M of schedule 2;

      "MANAGEMENT DATA SUBSIDIARY" means each and any of the Management Data
      Subsidiaries;

      "THE MANAGEMENT DATA SUBSIDIARIES ACCOUNTS" means in relation to each
      Management Data Subsidiary the most recent audited financial statements;

      "THE MANAGEMENT DATA SUBSIDIARIES PROPERTIES" means the leasehold
      properties details of which are set out in Part C of schedule 3;

      "THE MANAGEMENT DATA UK PROPERTY" means the leasehold property being the
      Third Floor, 3 St Helens Place, London, EC3 as detailed in Part C of
      schedule 3;

      "THE MANAGEMENT DATA SUBSIDIARIES RESTRICTED PRODUCTS" means all products
      which are distributed or sold by any of the Management Data Subsidiaries
      at the Completion Date (including, without prejudice to the generality of
      the foregoing, the GEAC GmbH Restricted Products);

      "THE MANAGEMENT DATA SUBSIDIARIES RESTRICTED SERVICES" means all services
      which are supplied by any of the Management Data Subsidiaries at the
      Completion Date (including, without prejudice to the generality of the
      foregoing, the installation, upgrading and customisation of the Management
      Data Subsidiaries Restricted Products and training in respect of the
      Management Data Subsidiaries Restricted Products);

      "MANAGEMENT DATA SUBSIDIARIES SALE SHARES" means the entire issued share
      capital of each of the Management Data Subsidiaries, as set out in Parts D
      to M of schedule 2;

      "MANAGEMENT DATA SUBSIDIARIES WARRANTIES" means the Warranties as to the
      matters stated in Part E of schedule 7;

1.4   GENERAL DEFINITIONS

      "GEAC UK BRISTOL PROPERTY LICENCE TO OCCUPY" means the licence to occupy
      in the agreed form between the GEAC UK Subsidiary and the GEAC Computer
      Corporation Subsidiary to be entered into on Completion;

      "BUSINESS DAY" means a day (excluding Saturdays and Sundays) on which
      clearing banks are ordinarily open for the transaction of normal banking
      business in the City of London;

      "CA 1985" means the Companies Act 1985;

      "COMPLETION" means the performance by the parties of their respective
      obligations under clause 4;

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      "THE COMPLETION DATE" means the date of this Agreement;

      "CONDITION" shall have the meaning ascribed to it in clause 2.4;

      "THE CONSIDERATION" means the consideration for the sale and purchase of
      the Sale Shares specified in clause 3;

      "THE CONSIDERATION SHARE" means the 1 ordinary share of 0.lp in the share
      capital of Newco 2 to be issued pursuant to the Austrian Inter-Company
      Loan Assignment;

      "THE CONTRACTS (RIGHTS OF THIRD PARTIES) ACT" means the Contracts (Rights
      of Third Parties) Act 1999;

      "DATE COMPLIANT" means neither the performance, accuracy nor functionality
      of any of the Smartstream Computer Systems, the Smartstream Developed
      Software, the Smartstream Third Party Systems Software, the GEAC UK
      Restricted Products nor the GEAC UK Restricted Services is or would be
      adversely affected by any date;

      "DELOITTE & TOUCHE DUE DILIGENCE REPORT" means the report of Deloitte &
      Touche initialled by or on behalf of the parties for the purposes of
      identification;

      "THE DISCLOSURE LETTER" means the letter in the agreed form of the same
      date as this Agreement from the Vendor to Newco 1 disclosing certain
      matters in relation to the Warranties and the Management Data Warranties
      Deed;

      "EMU COMPLIANT" means that during and after the introduction of any new
      currency in connection with European Economic and Monetary Union
      (including any relevant transitional period):

      (a)   the Smartstream Computer Systems, the Smartstream Developed
            Software, the GEAC UK Restricted Products and the GEAC UK Restricted
            Services will continue to be capable of performing all functions
            which they are currently capable of performing (including the input,
            processing and presentation of financial data) in relation to both
            any existing currency and any new currency introduced as accurately
            and efficiently as before such introduction and without interruption
            or material adverse change to functionality, efficiency or user
            operation and without incurring material additional costs;

      (b)   the Smartstream Computer Systems, the Smartstream Developed
            Software, the GEAC UK Restricted Products and the GEAC UK Restricted
            Services will enable compliance with all legal requirements under
            legislation enacted at the date of the Agreement (irrespective of
            the time from which such requirements come into force) applicable to
            any such new currency in any jurisdiction (including, without
            limitation, Council Regulation (EC) No. 1103/97); and

      (c)   the Smartstream Computer Systems, the Smartstream Developed
            Software, the GEAC UK Restricted Products and the GEAC UK Restricted
            Services will display and incorporate in all relevant forms, screen
            layouts and printouts all symbols adopted by any government or any
            European Union body in relation to any such currency;

      "EVENT" means any event, act, transaction, action or omission (whether or
      not any of the Targets is a party thereto) and includes (without
      limitation) the disposal of the Sale Shares pursuant to this Agreement,
      any change in the residence of any person

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      for the purposes of Tax, the death or dissolution of any person, the
      receipt or accrual of any income profits or gains, any distribution, any
      transfer payment loan or advance, and any event which is deemed to have
      occurred or is treated or regarded as having occurred for the purposes of
      Tax Legislation;

      "GEAC COMPUTER CORPORATION SUBSIDIARY" means GEAC Limited (No. 4018358)
      whose registered office is at 10 Norwich Street, London, EC4A 1BD;

      "GENERAL WARRANTIES" means the Warranties as to the matters stated in Part
      A of schedule 7;

      "GUARANTEE" means any guarantee, indemnity, suretyship, letter of comfort
      or other assurance, security or right of set-off given or undertaken by a
      person to secure or support the obligations (actual or contingent) of any
      third party and including, without limitation whether given directly or by
      way of counter-indemnity to any third party which has provided a
      Guarantee;

      "HOLDING COMPANY" shall bear the meaning given to that expression in
      section 736 CA 1985;

      "ICTA 1988" means the Income and Corporation Taxes Act 1988;

      "INCOME PROFITS OR GAINS" includes income profits or gains (including
      capital gains) of any description and from any source and income profits
      or gains which are deemed to be earned accrued or received for the
      purposes of any Tax;

      "INDEMNITIES" means the indemnities set out in clause 7;

      "INTELLECTUAL PROPERTY RIGHTS" means patents, registered designs, trade
      marks and service marks (whether registered or not), copyright, design
      rights, and all similar property rights, including those subsisting (in
      any part of the world) in inventions, designs, drawings, performances,
      computer programs, semiconductor topographies, plant varieties,
      confidential information, business or brand names, domain names, goodwill
      or the style of presentation of goods or services and in applications for
      protection thereof;

      "GEAC INTER-COMPANY LOAN" means the loan owing by the GEAC Subsidiary to
      the GEAC Computer Corporation Subsidiary in the sum of (pound)52,000,000
      on the terms referred to in the GEAC UK Reorganisation Documents and
      arising as described in the GEAC UK Reorganisation Step Plan and
      outstanding at the Completion Date;

      "KEY DATE" shall mean 1 September 2000;

      "MANAGEMENT DATA ACQUISITION AGREEMENT" means the agreement dated 1 May
      2000 between Management Data GmbH (1), Creditanstalt AG (2), The Vendor
      (3), GEAC Canada (4) and GEAC UK (5);

      "MANAGEMENT DATA WARRANTIES DEED" means the Representation and Warranty
      Agreement between the Vendor (1) and Newco 1 (2) in the agreed form to be
      entered into on Completion;

      "THE MANAGEMENT SERVICES INVOICE" means the invoice in the agreed form in
      the amount of (pound)1,750,000 payable by the Vendor to Newco 1;

                                       11

<PAGE>

      "NEW RELIEF" means any Relief which arises:

      (a)   as a result of any Event occurring after the Completion Date; or

      (b)   in respect of any period commencing on or after the Completion Date;

      "OFFICIAL REQUIREMENT" means any law, statute, ordinance, pact, decree,
      treaty, code, rule, regulation, directive, order, notice or official
      published plan or policy with legal or actual force in any geographical
      area and/or in any class of persons;

      "PRINCIPAL DOCUMENTS" means the Management Data Warranties Deed, the
      "Smartstream" Licence, the Austrian Inter-Company Loan Assignment and the
      Software Assignment;

      "THE PROHIBITED AREA" means:

      (a)   England and Wales, Scotland, Northern Ireland, the Republic of
            Ireland and Channel Islands; and

      (b)   countries of the European Union (excluding the above); and

      (c)   the World (excluding the above);

      "THE PROHIBITED PERIOD" means the period of 18 months commencing on the
      Completion Date;

      "PROPERTY DOCUMENTS SCHEDULE" means the list in the agreed form of
      property related documents to be produced or made available by the Vendor
      at Completion;

      "THE PURCHASERS" means Newco 1 and Newco 2;

      "PURCHASER" means each and any of the Purchasers;

      "THE PURCHASERS' SOLICITORS" means Wragge & Co of 55 Colmore Row,
      Birmingham, B3 2AS;

      "THE REGULATIONS" means the Transfer of Undertakings (Protection of
      Employment) Regulations 1981 (as amended);

      "RELATED COMPANY" in relation to any company means any subsidiary or
      holding company of that company or any subsidiary of any such holding
      company;

      "RELEVANT AUTHORITY" means any person or authority (including any nation,
      national or local governmental or international organisation and any
      subdivision or agency or executive arm of any of them) with legal or de
      facto power to impose and/or enforce compliance with any Official
      Requirements;

      "RELEVANT BREACH" means any event, matter or circumstance which is a
      breach of any of the Warranties;

      "RELEVANT PERSON" means the Vendor and any person (except the Purchasers
      or the Targets):

                                       12

<PAGE>

      (a)   who before Completion was a member of the same group of companies as
            a Target for any Tax purpose ("GROUP PERSON"); or

      (b)   with whom, before Completion a Target or, at any time, the Vendor or
            a Group Person is connected ("CONNECTED PERSON"); or

      (c)   to whom, before Completion, a Target or, at any time, the Vendor, a
            Group Person or a Connected Person transfers shares in a company
            ("SHARE PURCHASER"); or

      (d)   who at the time is connected to a Share Purchaser;

      "RELIEF" means any loss, relief, allowance, exemption, set-off, deduction,
      credit, right to payment or other relief available in relation to Tax or
      to the computation of income profits or gains for the purposes of Tax;

      "THE SALE SHARES" means the GEAC UK Sale Shares, the GEAC GmbH Sale Shares
      and the Management Data Subsidiaries Sale Shares;

      "SECURITY INTEREST" means a mortgage, lien, pledge, charge, hypothecation
      or other security interest (or an agreement or commitment to create any of
      them), but excluding:

      (a)   any lien arising in the ordinary course of business to secure
            amounts which are not material;

      (b)   any unpaid vendor's or supplier's lien arising in the ordinary
            course of any of the Targets trading business to secure amounts due
            in respect of products or services sold or supplied; and

      (c)   liens arising by operation of law, including a banker's lien;

      "SMARTSTREAM LICENCE" means the licence from GEAC Computer Systems Inc to
      Newco 1 in the agreed form in relation to certain "Smartstream" names and
      the domain name "Smartstream.com" to be entered into on Completion;

      "SOFTWARE ASSIGNMENT" means the agreement between GEAC Canada and Newco 1
      in the agreed form for the assignment from GEAC Canada to Newco 1 of
      rights in the Software and Materials (as each such term is defined in the
      Software Assignment) to be entered into on Completion;

      "SUBSIDIARY" means a subsidiary (as defined by sections 736 and 736A CA
      1985) or a subsidiary undertaking (as defined by section 258 CA 1985);

      "TRANSITIONAL SUPPORT AGREEMENT TERM SHEET" means the non-binding document
      in the agreed form relating to facilities and services that the Vendor
      shall provide (or shall procure the provision of) to the Purchasers and
      the Targets for a period following the Completion Date;

      "THE TARGETS" means together both members of the GEAC UK Group, GEAC GmbH
      and the Management Data Subsidiaries;

      "TARGET" means each and any of the Targets;

                                       13

<PAGE>

      "TAX" means:

      (a)   all forms of taxes duties imposts and levies in the nature of taxes
            whenever created or imposed and whether of the United Kingdom or
            elsewhere including (without limitation) corporation tax advance
            corporation tax income tax (including income tax or amounts
            equivalent to income tax required to be deducted or withheld from or
            accounted for in respect of any payment) capital gains tax any
            payment under section 601(2) ICTA 1988 inheritance tax value added
            tax landfill tax stamp duty stamp duty reserve tax general or
            business rates customs & excise duties national insurance social
            security or similar contributions and any other taxes levies charges
            imposts or withholdings similar to or corresponding with or replaced
            by any of the foregoing; and

      (b)   all penalties fines charges surcharges and interest in relation to
            tax within paragraph (a) or to any return or information required to
            be provided for the purposes of any such tax;

      "TAX AUTHORITY" means the Inland Revenue, HM Customs & Excise, the
      Department of Social Security and any other governmental, statutory,
      state, provincial or local government authority, body or official (whether
      within or outside the United Kingdom) involved in the assessment,
      collection or administration of Tax;

      "TAX CLAIM" means any notice demand assessment letter or other document
      issued or action taken by or on behalf of any Tax Authority (whether
      before, on or after the date of this Agreement) from which it appears that
      a Tax Liability is to be or may come to be imposed on the Target or that
      the Target is liable or is sought to be made liable to make any payment or
      increased or further payment to such Tax Authority or is denied or is
      sought to be denied any Relief (in whole or in part);

      "THE TAX COVENANTS" means the covenants by the Vendor contained in clause
      9 and schedule 4;

      "TAX LEGISLATION" means any statute, enactment, law or regulation
      providing for the imposition of Tax;

      "TAX LIABILITY" means a liability to make an actual payment of, or of an
      amount in respect of, Tax whether or not such liability is also or
      alternatively a liability of or chargeable against or attributable to any
      other person and whether or not the Target shall or may have a right of
      recovery or reimbursement against any other person;

      "THE TAX WARRANTIES" means the Warranties as to matters stated in Part F
      of schedule 7;

      "TCGA 1992" means the Taxation of Chargeable Gains Act 1992;

      "THE TRANSFERRING EMPLOYEES" means the persons on the list in the agreed
      form engaged in the Smartstream Business but who were not employed by GEAC
      UK on the Smartstream Business Transfer Date;

      "VATA 1994" means the Value Added Tax Act 1994;

                                       14

<PAGE>

      "VENDOR'S ACCOUNT" means the account of GEAC 2 numbered 0747675 at Lloyds
      TSB Bank of City Office, PO Box 17328, 11-15 Monument Street, London, EC3V
      9JA, Sort Code 30-00-02 or such other account as the Vendor shall specify;

      "VENDOR GROUP" means together the Vendor and GEAC Canada, and in relation
      to each such company, such body corporate and every other company which is
      for the time being a subsidiary or holding company of that company or a
      subsidiary of any such holding company;

      "VENDOR GROUP COMPANY" means each and any body corporate in the Vendor
      Group;

      "THE VENDOR'S SOLICITORS" means Macfarlanes of 10 Norwich Street, London,
      EC4A 1BD;

      "WARRANTIES" means the warranties contained in clause 6.1 and schedule 7;

      "WARRANTY" means each and any of the Warranties;

      "WORKING CAPITAL" means the consolidated working capital of the GEAC UK
      Subsidiary (which for this purpose shall include the consolidated working
      capital of all the Smartstream Businesses), GEAC GmbH and the Management
      Data Subsidiaries as at the Completion Date calculated in accordance with
      clause 3;

      "THE WORKING CAPITAL STATEMENT" means the statement of the Working Capital
      to be prepared and determined in accordance with clause 3;

      "WRAGGE & CO DUE DILIGENCE REPORT" means the report of Wragge & Co dated
      on 11 July 2000 addressed to, inter alia, Newco l;

1.5   a document expressed to be "IN THE AGREED FORM" means a document in a form
      which has been agreed by the parties contemporaneously with or before the
      execution of this Agreement and which has, for the purposes of
      identification, been initialled by them or on their behalf;

1.6   references to a clause or schedule are to a clause of, or a schedule to,
      this Agreement, references to this Agreement include its schedules and
      references in a schedule or part of a schedule to a paragraph are to a
      paragraph of that schedule or that part of that schedule;

1.7   references to this Agreement or any other document or to any specified
      provision of this Agreement or any other document are to this Agreement,
      that document or that provision as in force for the time being and as
      amended from time to time in accordance with the terms of this Agreement
      or that document or, as the case may be, with the agreement of the
      relevant parties;

1.8   words importing the singular include the plural and vice versa, words
      importing a gender include every gender and references to persons include
      corporations, partnerships and other unincorporated associations or bodies
      of persons;

1.9   the contents table and the descriptive headings to clauses, schedules and
      paragraphs (and summaries in parentheses of the scope of any statutory
      provisions in the Tax Warranties) are inserted for convenience only, have
      no legal effect and shall be ignored in the interpretation of this
      Agreement;

                                       15

<PAGE>

1.10  all agreements, obligations and liabilities (whether under warranties,
      representations, indemnities or otherwise) on the part of both the Vendor
      and GEAC Canada are joint and several and shall be construed accordingly;

1.11  the words and phrases "other", "including" and "in particular" shall not
      limit the generality of any preceding words or be construed as being
      limited to the same class as the preceding words where a wider
      construction is possible;

1.12  a person is connected with another person if he is so connected within the
      meaning of section 839 ICTA 1988;

1.13  Reference to an Event occurring on or before any date shall be deemed to
      include:

      (a)   any combination of two or more Events only the first or some of
            which shall have occurred before that date; and

      (b)   any Event which is treated or deemed to occur on or before that date
            for the purposes of any Tax;

1.14

      (a)   "ENACTMENT" means any statute or statutory provision (whether of the
            United Kingdom or elsewhere), subordinate legislation (as defined by
            section 21(1) Interpretation Act 1978) and any other subordinate
            legislation made under any such statute or statutory provision;

      (b)   a reference to any enactment shall be construed as including a
            reference to:

            (i)   any enactment which that enactment has directly or indirectly
                  replaced (whether with or without modification), and

            (ii)  that enactment as re-enacted, replaced or modified from time
                  to time, whether before, on or after the date hereof;

            provided that this clause 1.14 shall not increase the liability of
            any party above that which exists immediately following this
            Agreement coming into effect.

1.15  Reference in this Agreement or any of the Principal Documents to any
      matter or circumstance shall be deemed to include such equivalent or
      similar matter, law regulation or circumstance as shall be applicable in
      any overseas jurisdiction whatsoever and with such necessary changes
      (mutatis mutandis) as may be required to give reasonable meaning and
      effect thereto in relation to each of GEAC GmbH, each of the Management
      Data Subsidiaries and each Vendor Group Company.

2     SALE OF THE SALE SHARES

2.1   The Vendor shall sell to Newco 1 and Newco 1 shall purchase from the
      Vendor the GEAC UK Sale Shares.

2.2   The Vendor shall sell to Newco 2 and Newco 2 shall purchase from the
      Vendor:

      (a)   the GEAC GmbH Sale Shares; and

      (b)   the Management Data Subsidiaries Sale Shares.

                                       16

<PAGE>

2.3

      (a)   The Vendor shall sell and transfer the Sale Shares free from all
            claims, liens, charges, encumbrances and equities and other rights
            exercisable by third parties and with full title guarantee;

      (b)   the express assurance in clause 2.3(a) as to freedom from
            encumbrances and the covenants implied in that clause by sections 2
            and 3 of the Law of Property (Miscellaneous Provisions) Act 1994
            ("THE ACT") shall apply to anything falling within the scope of such
            assurances and covenants notwithstanding that the Vendor does not
            know or could not reasonably be expected to know about it and the
            operation of the covenants implied by sections 2 and 3 of the Act
            shall be deemed to be extended so as not to exclude the liability of
            the Vendor thereunder in either of such circumstances; and

      (c)   the transfers of the GEAC UK Sale Shares and the Sale Shares
            relating to Management Data (UK) Limited to the appropriate
            Purchaser shall be deemed to include expressly and be made subject
            to all the foregoing provisions of this clause 2.3.

2.4   Notwithstanding the provisions of clause 2.2 above and clause 4 below, the
      obligations of Newco 2 to purchase those Sale Shares which are shares
      comprised in the capital of Management Data (Deutschland) GmbH ("THE
      MANAGEMENT DATA (DEUTSCHLAND) SALE SHARES") and the parties to complete
      the sale and purchase of the Management Data (Deutschland) Sale Shares
      pursuant to clause 4 shall be conditional upon the receipt by the
      Purchasers' Solicitors of the written clearance of the Bundeskartellamt to
      the transfer of the Management Data (Deutschland) Sale Shares under the
      terms of this Agreement, pursuant to the notification which was submitted
      to the Bundeskaretellamt on 4 July 2000 ("CONDITION").

2.5   The Vendor and Newco 2 shall use their reasonable endeavours to procure
      the fulfilment of the Condition as soon as reasonably possible and the
      performance of the transfer referred to in clause 2.4 as soon as possible
      after fulfilment of the Condition.

2.6   The Vendor shall use its reasonable endeavours to take any such action as
      is necessary to assist Newco 2 in obtaining clearance from the
      Bundeskartellamt in respect of the notification referred to above in
      clause 2.4.

2.7   If the Condition (to the extent that it has not been waived by agreement
      between the Vendor and Newco 2) is not fulfilled on or before the Key Date
      (or such later date as is agreed between the Vendor and Newco 2), all the
      obligations of the parties under this Agreement shall terminate in respect
      of the transfer of the Management Data (Deutschland) Sale Shares and no
      party shall have any claim against the other under such obligations except
      in respect of any prior breach of clause 2.5 or 2.6. If on or before the
      Key Date (or such later date as is agreed between the Vendor and Newco 2)
      the Bundeskartellamt refers or decides to refer for further investigation
      any of the matters referred to in clause 2.4 above, then this Condition
      shall be deemed not to be satisfied.

2.8   Title to, beneficial ownership of, and any risk attaching to, the Sale
      Shares shall pass on Completion and the Sale Shares shall be sold and
      purchased together with all rights and benefits attached or accruing to
      them at Completion (including the right to receive all dividends,
      distributions or any return of capital declared, paid or made by the
      Company on or after Completion).

                                       17

<PAGE>

3     CONSIDERATION

3.1   The Consideration shall be satisfied:

      (a)   in respect of the GEAC UK Sale Shares by the payment on Completion
            by Newco 1 to the Vendor in cash of the sum of (pound)2,000,000;

      (b)   in respect of the GEAC GmbH Sale Shares by the payment on Completion
            by Newco 2 to the Vendor of (pound)10,962;

      (c)   in respect of the Management Data Subsidiaries Sale Shares by the
            payment on Completion by Newco 2 to the Vendor of (pound)675,303 but
            subject to clause 5.5(ii);

3.2   If the Working Capital is:

      (a)   a positive sum which is greater than (pound)2,100,000, Newco 1 shall
            pay to GEAC Canada in accordance with clause 3.3 a sum equal to the
            difference;

      (b)   a positive sum which is less than (pound)2,100,000, GEAC Canada
            shall pay to Newco 1 in accordance with clause 3.3 a sum equal to
            the difference;

      (c)   a negative sum, GEAC Canada shall pay to Newco 1 in accordance with
            clause 3.3 a sum equal to the aggregate of (pound)2,100,000 and the
            amount by which the Working Capital is less than zero;

      (d)   equal to (pound)2,100,000, no payment is due from Newco 1 to GEAC
            Canada or from GEAC Canada to Newco 1 nor shall be made pursuant to
            this clause 3.2.

3.3   Every sum payable under clause 3.2 shall be paid:

      (a)   (subject to clause 3.8) within five business days after the date of
            agreement or final determination of the Working Capital;

      (b)   together with interest thereon at the rate of 2% above the base rate
            of Lloyds TSB Bank plc from time to time which shall accrue from day
            to day and shall be calculated on the basis of a year of 365 days
            from the Completion Date up to and including the date of payment of
            any amount payable;

      (c)   by electronic funds transfer:

            (i)   (where such sum is expressed to be payable to GEAC Canada) to
                  the Vendor's Account and the receipt of it in such account
                  shall constitute a good discharge to Newco 1 in respect of it;
                  or

            (ii)  (where such sum is expressed to be payable to Newco 1) to the
                  account of Newco 1 notified by Newco 1 to GEAC Canada prior to
                  the date of payment;

      (d)   and any such payment which is payable shall be deemed to be an
            increase or a reduction first against the consideration paid
            pursuant to the terms of the Software Assignment.

3.4   The parties shall procure that as soon as practicable following the
      Completion Date, and in any event not later than 50 days after Completion,
      a draft of the Working

                                       18

<PAGE>

      Capital Statement ("THE DRAFT WORKING CAPITAL STATEMENT") shall be
      prepared by Newco 1 in accordance with clause 3.5 and delivered to GEAC
      Canada.

3.5   The draft Working Capital Statement shall be prepared in a format which
      complies with the Working Capital Statement and in accordance with the
      provisions set out in schedule 9.

3.6   As soon as practicable after delivery of the draft Working Capital
      Statement in accordance with clause 3.4, and in any event within 10 days
      after such delivery ("THE REVIEW PERIOD"), GEAC Canada shall review the
      draft Working Capital Statement and endeavour to agree with Newco 1 what
      adjustments (if any) need to be made to it in order for it to comply with
      clause 3.5 and schedule 9.

3.7   If:

      (a)   Newco 1 and GEAC Canada agree that no adjustments need to be made to
            the draft Working Capital Statement; or

      (b)   Newco 1 and GEAC Canada agree on the adjustments to be made to the
            draft Working Capital Statement in order for it to comply as
            aforesaid,

      they shall:

            (i)   (in the circumstances mentioned in (b) above) jointly
                  incorporate into, and reflect any such adjustments in, the
                  draft Working Capital Statement; and

            (ii)  specify in writing the amount of the Working Capital as
                  defined in this Agreement on the basis of the draft Working
                  Capital Statement

            and the draft Working Capital Statement and the specified amount of
            the Working Capital shall be the Working Capital Statement and the
            Working Capital respectively for all purposes of this Agreement,
            shall in the absence of manifest error be final and binding on the
            parties (but subject to paragraph 13 of schedule 8 shall be without
            prejudice to Newco l's rights to claim under this Agreement) and the
            date of such Working Capital Statement shall for all purposes of
            this Agreement be the date of determination of the Working Capital.

3.8

      (a)   If Newco 1 and GEAC Canada are unable to agree within the Review
            Period on:

            (i)   whether specific adjustments need to be made to the draft
                  Working Capital Statement;

            (ii)  the specific adjustments to be made thereto; or

            (iii) the amount of the Working Capital

            Newco 1 and GEAC Canada shall thereupon forthwith endeavour in good
            faith to resolve and agree such matter or matters by negotiation.

      (b)   In the event that Newco 1 and GEAC Canada acting reasonably and in
            good faith shall disagree on specific items comprised in the draft
            Working Capital

                                       19

<PAGE>

            Statement such specific items will be excluded from the draft
            Working Capital Statement and dealt with under clause 3.9.
            Notwithstanding that the draft Working Capital Statement as a whole
            has not been agreed pursuant to clause 3.7 or determined pursuant to
            clause 3.9, Newco 1 and GEAC Canada shall make payment one to the
            other in respect of those matters which are not specific items
            subject to disagreement, pursuant to clause 3.2.

3.9   If Newco 1 and GEAC Canada have not resolved any specific items in dispute
      as is referred to in clause 3.8 within 10 days after the expiry of the
      Review Period, then such specifc items (but no others) shall thereupon be
      referred to such firm of independent chartered accountants as GEAC Canada
      and Newco 1 may agree within 14 days of a request by either of them to the
      other or, failing such agreement within such time, as the President for
      the time being of the Institute of Chartered Accountants in England and
      Wales may nominate on the application of GEAC Canada or the Purchasers
      ("THE INDEPENDENT ACCOUNTANTS") for determination on the following basis:

      (a)   the Independent Accountants shall be instructed to notify GEAC
            Canada and Newco 1 of their determination of any such matter within
            30 days of such referral;

      (b)   GEAC Canada and Newco 1 shall be entitled to make a joint
            recommendation as to the procedure or methods to be adopted and each
            to make written submissions to the Independent Accountants, but
            subject thereto the Independent Accountants shall have power to
            determine the procedure to be followed in relation to their
            determination;

      (c)   in making such submissions GEAC Canada and Newco 1 shall state their
            respective best estimates of monetary amounts of such specific items
            referred for determination;

      (d)   in making their determination the Independent Accountants shall act
            as experts and not as arbitrators, their decision as to such
            specific items referred to them for determination shall in the
            absence of manifest error be final and binding in all respects on
            the parties; and

      (e)   with regard to the fees and expenses of the Independent Accountants
            each party shall pay a proportion of such fees and expenses which is
            the same as that proportion of all amounts in dispute which are
            determined in favour of the other party.

3.10  Following any agreement between GEAC Canada and Newco 1 in accordance with
      clause 3.8 or any determination by the Independent Accountants in
      accordance with clause 3.9, GEAC Canada and Newco 1 shall jointly:

      (a)   incorporate into and reflect in the draft Working Capital Statement
            the matters agreed between Newco 1 and GEAC Canada and/or determined
            by the Independent Accountants; and

      (b)   specify in writing the amount of the Working Capital on the basis of
            the draft Working Capital Statement

      and the draft Working Capital Statement and the specified amount of
      Working Capital shall be the Working Capital Statement and the Working
      Capital respectively for all purposes of this Agreement and shall in the
      absence of manifest error be final and binding on the parties (but subject
      to paragraph 13 of schedule 8 shall be without

                                       20

<PAGE>

      prejudice to Newco 1's right to claim under this Agreement) and the date
      of such Working Capital Statement shall for all purposes of this Agreement
      be the date of determination of the Working Capital.

3.11  Until the Working Capital shall have been agreed or determined GEAC Canada
      and Newco 1 shall respectively:

      (a)   give or procure that their respective advisers and the Independent
            Accountants are given access at all reasonable times to all relevant
            books and records which are in the possession or under the control
            of each Vendor Group Company, the Targets or the Purchasers (as the
            case may be); and

      (b)   generally provide the other and their respective advisors and the
            Independent Accountants with such other information and assistance
            as they may reasonably require (including access to and assistance
            at reasonable times from personnel employed by each Vendor Group
            Company, the Targets or the Purchasers, as the case may be), in
            relation to the review, agreement or determination of the Working
            Capital Statement and the determination of the Working Capital.

3.12  The amounts included within the Working Capital Statement as the amounts
      due from the Vendor Group (or any Vendor Group Company) to the Targets (or
      any of them) and outstanding at the Completion Date and the amounts due to
      the Vendor Group (or any Vendor Group Company) from the Targets (or any of
      them) shall be paid, in accordance with clause 3.3(c), within 5 business
      days after the date of final determination of the Working Capital pursuant
      to clause 3 and after all payments have been made pursuant to clause 3.2.

4     COMPLETION

4.1   Completion shall take place at the offices of the Purchasers' Solicitors
      (or at such other place as the parties may agree) on the Completion Date
      when all (but not part only unless the parties shall so agree) of the
      following business shall be transacted:

      (a)   In respect of the GEAC UK Acquisition, the Vendor shall deliver to
            Newco 1 or make available for collection by Newco 1 or its
            authorised representatives:

            (i)   a transfer in respect of the GEAC UK Sale Shares duly executed
                  and completed in favour of Newco 1 together with the
                  certificate(s) therefor and the duly executed powers of
                  attorney or other authorities under which the transfer has
                  been executed and certified copies of the minutes recording
                  the Resolution of the Boards of Directors of the Vendor
                  authorising the sale of the GEAC UK Sale Shares held by the
                  Vendor and the execution of the transfer in respect of them,
                  this Agreement and the Principal Documents relevant to the
                  GEAC UK Acquisition;

            (ii)  (as agents for each GEAC UK Group Company) all their statutory
                  and minute books (written up to date save in relation to the
                  matters to be dealt with at Completion) and their Common
                  Seals, Certificates of Incorporation, any Certificate or
                  Certificates of Incorporation on Change of Name, and copies of
                  their respective memorandum and articles of association (if
                  not attached to the Disclosure Letter);

            (iii) Deeds of Release or other evidence in a form satisfactory to
                  Newco 1 that all Guarantees and Security Interests given by
                  any GEAC UK

                                       21

<PAGE>

                  Group Company (including, but without limitation in respect of
                  liabilities of the Vendor or any Vendor Group Company or any
                  of its related companies or any director of any such company)
                  have been released;

            (iv)  the deeds and documents of title to the GEAC UK Properties as
                  set out in the Property Documents Schedule;

            (v)   the originals (or counterparts) of the GEAC UK Reorganisation
                  Documents;

            (vi)  a duly executed deed of adherence and a deed of substitution
                  in respect of the GEAC UK Scheme, each in a form satisfactory
                  to Newco 1.

      (b)   In respect of the GEAC UK Acquisition, the Vendor shall:

            (i)   cause the transfer mentioned in clause 4.1(a)(i) to be
                  resolved to be registered (subject only to its being duly
                  stamped);

            (ii)  cause the persons named in Part A of schedule 5 to be validly
                  appointed as additional Directors and the person(s) named in
                  Part B of schedule 5 to be validly appointed as Secretary of
                  each GEAC UK Group Company and Management Data (UK) Limited;
                  and

            (iii) on such appointments being made, cause the persons named in
                  Part C of schedule 6 to cease to be Directors and the
                  person(s) named in Part D of schedule 5 to cease to be
                  Secretary of each GEAC UK Group Company and Management Data
                  (UK) Limited;

            (iv)  procure that the GEAC UK Group Companies shall repay all their
                  bank indebtedness (including all hire purchase and finance
                  lease type arrangements) outstanding at Completion (and
                  provide evidence of the same in a form satisfactory to Newco
                  1);

      (c)   In respect of the GEAC GmbH Acquisition, the Vendor shall procure
            that the arrangements stated in Part A of schedule 13 shall be
            implemented;

      (d)   In respect of the GEAC GmbH Acquisition, the Vendor shall:

            (i)   procure that GEAC GmbH shall repay all its bank indebtedness
                  (including all hire purchase and finance lease type
                  arrangements) outstanding at Completion (and provide evidence
                  of the same) in a form satisfactory to Newco 2);

            (ii)  procure the execution of and delivery of the Austrian
                  Inter-Company Loan Assignment to Newco 2.

      (e)   In respect of the Management Data Subsidiaries Acquisition, the
            Vendor shall procure that the arrangements stated in Parts B to J of
            schedule 13 shall be implemented;

      (f)   In respect of the Management Data Subsidiaries Acquisition, the
            Vendor shall procure that the Management Data Subsidiaries shall
            repay all their bank indebtedness (including all hire purchase and
            finance lease type

                                       22

<PAGE>

            arrangements) outstanding at Completion (and provide evidence of the
            same in a form satisfactory to Newco 2);

      (g)   In respect of the GEAC UK Acquisition, the GEAC GmbH Acquisition and
            the Management Data Subsidiaries Acquisition, the Vendor shall
            settle the Management Services Invoice (which the Vendor hereby
            acknowledges is due and payable);

      (h)   In respect of the Software, GEAC Canada shall execute and deliver
            the Software Assignment;

            (i)   In respect of the GEAC UK Sale Shares, Newco 1 shall:

            (i)   pay the sum referred to in clause 3.1 (a) by electronic funds
                  transfer for value on the Completion Date to the Vendor's
                  Account and payment of such sum into such account shall
                  constitute a good discharge to Newco 1 in respect of it;

            (ii)  procure the repayment by the GEAC UK Subsidiary of the GEAC
                  Inter-Company Loan by the payment of (pound)52,000,000 in
                  respect thereof by electronic funds transfer for value on the
                  Completion Date to the Vendor's Account and the payment of
                  such sum into such account shall constitute a good discharge
                  of the GEAC Inter-Company Loan;

      (j)   In respect of the GEAC GmbH Sale Shares, Newco 2 shall pay the sum
            referred to in clause 3.1 (b) by electronic funds transfer for value
            on the Completion Date to the Vendor's Account and payment of such
            sum into such account shall constitute a good discharge to Newco 2
            in respect of it;

      (k)   In respect of the Management Data Subsidiaries Sale Shares, Newco 2
            shall pay the sum referred to in clause 3.1 (c) by electronic funds
            transfer for value on the Completion Date to the Vendor's Account
            and payment of such sum into such account shall constitute a good
            discharge to Newco 2 in respect of it;

      (l)

            (i)   In respect of Tranche 1 of the Loan, Newco 2 shall pay the sum
                  of (pound)1,013,735 required to be paid pursuant to the
                  Austrian Inter-Company Loan Assignment by electronic funds
                  transfer for value to the Vendor's Account and payment of such
                  sum into such account shall constitute a good discharge to
                  Newco 2 in respect of it;

            (ii)  In respect of Tranche 2 of the Loan, Newco 2 shall issue the
                  Consideration Share to the Vendor pursuant to the Austrian
                  Inter-Company Loan Assignment;

      (m)   The Vendor and Newco 1 shall execute and deliver to each other:

            (i)   the Management Data Warranties Deed;

            (ii)  the "Smartstream" Licence;

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<PAGE>

      (n)   The parties shall join in procuring that the current accounting
            reference period of each GEAC UK Group Company and Management Data
            (UK) Limited shall be altered so as to end on the Completion Date.

4.2   Subject to the provisions of clauses 2.4 to 2.7, the performance by Newco
      1 and Newco 2 of their respective obligations under clause 4.1 shall be a
      condition precedent to the performance by the Vendor and GEAC Canada of
      their respective obligations under clause 4.1 to the intent that, if Newco
      1 or Newco 2 shall fail or shall be unable to perform any of their
      respective obligations under clause 4.1, the Vendor and GEAC Canada shall
      at their option (and without prejudice to any other remedies or rights
      which they have against Newco 1 and Newco 2 in respect of such
      non-performance) cease to be liable to perform their respective
      obligations under clause 4.1.

4.3   The performance by the Vendor and GEAC Canada of their respective
      obligations under clause 4.1 shall be a condition precedent to the
      performance by Newco 1 and Newco 2 of their respective obligations under
      clause 4.1 to the intent that, if the Vendor and GEAC Canada shall fail or
      shall be unable to perform any of their respective obligations under
      clause 4.1, Newco 1 and Newco 2 shall at their option (and without
      prejudice to any other remedies or rights which they may have against the
      Vendor and GEAC Canada in respect of such non-performance) cease to be
      liable to perform their respective obligations under clause 4.1.

5     POST-COMPLETION MATTERS

5.1   The Vendor hereby declares that for so long as it remains the registered
      holder of any of the GEAC UK Sale Shares after Completion it will:

      (a)   hold the GEAC UK Sale Shares and the dividends and other
            distributions of profits or surplus or other assets declared, paid
            or made in respect of them after Completion and all rights arising
            out of or in connection with them in trust for Newco 1 and its
            successors in title; and

      (b)   deal with and dispose of the GEAC UK Sale Shares and all such
            dividends, distributions and rights as are described in clause
            5.1(a) as Newco 1 or any such successor may direct.

5.2

      (a)   The Vendor hereby appoints Newco 1 as its lawful attorney for the
            purpose of receiving notices of and attending and voting at all
            meetings of the members of GEAC UK from Completion Date to the day
            on which Newco 1 or its nominee or nominees is/are entered in the
            register of members of GEAC UK as the holder of the GEAC UK Sale
            Shares.

      (b)   For such purpose the Vendor hereby authorises:

            (i)   GEAC UK to send any notices in respect of its holding of GEAC
                  UK Sale Shares to Newco 1; and

            (ii)  Newco 1 to complete in such manner as it thinks fit and to
                  return proxy cards, consents to short notice and any other
                  document required to be signed by him in his capacity as a
                  member.

5.3   Clauses 5.1 and 5.2 shall be deemed to be repeated herein with the
      substitution of "Newco 2" for "Newco 1" and "the GEAC GmbH Sale Shares and
      the Management

                                       24

<PAGE>

      Data Subsidiaries Sale Shares" for "GEAC UK Sale Shares" and "GEAC GmbH
      and each of the Management Data Subsidiaries" for "GEAC UK".

5.4   The parties shall procure that as from Completion the arrangements stated
      in schedule 6 with regard to the GEAC UK Scheme shall be implemented.

5.5   The Vendor and the Purchasers shall negotiate in good faith and at their
      own respective costs with a view to executing (or procuring the execution
      thereof as appropriate) agreements to effect the following within a
      reasonable period from the Completion Date and in any event no later than
      20 days from the Completion Date:

            (i)   the matters referred to in the Transitional Support Agreement
                  Term Sheet ("THE TRANSITIONAL SUPPORT AGREEMENT"); and

            (ii)  the transfer of all assets liabilities and employees of the
                  Smartstream Overseas Businesses referred to below to the
                  Management Data Subsidiaries referred to below ("THE
                  SMARTSTREAM OVERSEAS BUSINESSES AGREEMENTS")

                  Smartstream
                  Overseas Business          Transferee

                  US                    to   Management Data America Inc
                  Singapore             to   Smartstream Banking Systems
                                             (Asia  Pacific) Pty Limited
                  Australia             to   Smartstream Banking Systems
                                             (Asia  Pacific) Pty Limited
                  Canada                to   Management Data America Inc

                  and all assets and liabilities comprised in such transfers
                  shall have a consideration attributed to them equal to their
                  respective book values shown in the latest management accounts
                  or other available satisfactory financial information as at
                  the Completion Date of the relevant Vendor Group Company. The
                  consideration attributable to the Smartstream Overseas
                  Business Agreements shall be deemed to have been deducted from
                  the consideration referred to in clause 3.1(c) attributable to
                  the Management Data Subsidiaries Sale Shares to the intent
                  that such amount shall have been an interest free loan
                  advanced by Newco 2 to the Vendor which loan is satisfied and
                  discharged by the transfer by the Vendor to the respective
                  Management Data Subsidiaries of the respective Smartstream
                  Overseas Businesses.

5.6   The Vendor shall (and shall procure that any Vendor Group Company shall)
      and the Purchasers shall (and shall procure that any relevant Target
      shall) execute, or so far as each is able, procure that any necessary
      third party shall execute all such documents and/or do or as far as each
      is able, procure the doing of such acts and things as shall be reasonably
      required in order to give effect to the Transitional Support Agreement,
      the Smartstream Overseas Business Agreements and any document entered into
      pursuant to them (or any of them).

5.7   The Vendor and GEAC Canada shall (and shall procure that each Vendor Group
      Company shall) execute or procure that any necessary third party shall
      execute all such documents and/or do or procure the doing of such acts or
      things as the Purchasers shall after Completion reasonably require in
      order to:

                                       25

<PAGE>

      (a)   give effect to this Agreement and the Principal Documents and any
            documents entered into pursuant to them (or any of them) and to give
            to each of the Purchasers (for itself and as trustee for each of the
            Targets) the full benefit of all the provisions of this Agreement
            and the Principal Documents;

      (b)   obtain the resignations of Ellen Neeman and William Nelson and such
            other officers, of GEAC GmbH and the Management Data Subsidiaries
            who are employed by any Vendor Group Company as the Purchaser shall
            require.

5.8   The Vendor and GEAC Canada hereby jointly and severally covenant that,
      subject to being indemnified as to their costs expenses and any
      liabilities of so doing, they will provide GEAC GmbH with all such
      co-operation and assistance as Newco 1 shall reasonably require (which
      shall not extend to any action materially prejudicial to the Vendor or
      GEAC Canada) in connection with the prosecution by it of any claim
      (whether for breach of representation or warranty or otherwise) under the
      Management Data Acquisition Agreement and further hereby agree that they
      will not pursue any claim in competition therewith and that any recovery
      of damages pursuant to any such claim by GEAC GmbH shall all be for the
      account of GEAC GmbH PROVIDED THAT this clause shall not apply to any
      claim under such agreement which the Vendor or GEAC Canada makes as a
      direct result of a claim for breach of warranty against either of them by
      Newco 1 pursuant to the Management Data Warranties Deed.

5.9   Within five business days of the Completion Date, Newco 1 shall offer (or
      procure that GEAC UK Subsidiary shall offer) employment to each of the
      Transferring Employees (whose contract of employment has not been
      transferred to the GEAC UK Subsidiary or to Newco 1) on terms and subject
      to conditions which are at least as favourable to each such Transferring
      Employee as the terms and conditions on which such Transferring Employee
      is presently employed, as disclosed by the Disclosure Letter and capable
      of acceptance such, subject to the release of such Transferring Employee
      from any requirement to give notice of termination of his/her employment
      by the relevant Vendor Group Company, that each accepting Transferring
      Employee would be able to commence his/her new employment within five
      business days of his/her acceptance provided that and for the avoidance of
      doubt that should any Transferring Employee not accept such offer, neither
      Newco 1 nor the GEAC UK Subsidiary shall be under any obligation
      whatsoever in respect of such Transferring Employee.

5.10  Newco 1 and Newco 2 hereby jointly and severally indemnify each of the
      Vendor and GEAC Canada against all costs, expenses and liabilities
      suffered or incurred by it as a result of any act or omission of GEAC GmbH
      after the date of this Agreement in circumstances where Newco 1 and/or
      Newco 2 knew or should reasonably have known that such costs, expenses and
      liabilities would be caused thereby.

5.11  The parties shall procure that as from the Completion Date the
      arrangements stated in schedule 12 in connection with the Retained GEAC
      Properties shall be implemented.

5.12  The Vendor shall procure that as from the Completion Date the arrangements
      stated in schedule 14 in connection with the GEAC GmbH Sale Shares and the
      Management Data Subsidiaries Sale Shares shall be implemented.

5.13  Newco 1 shall indemnify the Vendor for all its reasonable costs and
      expenses in connection with the appointment of Newco 1 as its attorney in
      respect of the GEAC UK Sale Shares pursuant to clause 5.1.

                                       26

<PAGE>

5.14  The Vendor shall (and shall procure that any Vendor Group Company shall)
      use its reasonable endeavours to procure within two months of the
      Completion Date the assignment in a form reasonably satisfactory to Newco
      1 of the CTM application for the trade marks FTMS, the CTM application for
      the trade mark CLS Inside and the domain name "Management Data.com".

5.15  The Vendor shall use all reasonable endeavours to procure the purchase by
      GEAC UK of all issued shares in GEAC UK (save for the GEAC UK Sale Shares)
      within 7 days of the Completion Date and shall indemnify Newco 1 and GEAC
      UK for all their liabilities, losses, claims, costs and expenses incurred
      in respect of such shares.

5.16  For the period of 6 months commencing upon the Completion Date, subject to
      the Vendor indemnifying each of Newco 1, Newco 2 and each relevant Target
      for all its reasonable costs and expenses of providing the following
      assistance and the Vendor signing terms as to confidentiality (save in
      respect of the disclosure of the audited accounts and taxation returns
      mentioned below) of information to the reasonable satisfaction of Newco 1
      and Newco 2, Newco 1 and Newco 2 shall procure, on the reasonable request
      by the Vendor, that each Target shall make available to the Vendor such
      information and documents (together with the rights to make copies of the
      same at the Vendor's expense) and personnel as the Vendor shall reasonably
      request on reasonable advance notice for the purpose of the completion by
      the Vendor of:

      (a)   the audit of the Targets in respect of the financial period ended 30
            April 2000; and

      (b)   its internal accounting and valuation exercises in relation to its
            acquisition of the Management Data Business on 1 May 2000; and

      (c)   its taxation returns.

6     WARRANTIES

6.1   In consideration of the Purchasers entering into this Agreement in respect
      of the GEAC UK Acquisition, GEAC GmbH Acquisition and the Management Data
      Subsidiaries Acquisition and Newco 1 entering into the Software
      Assignment, the Vendor hereby warrants to Newco 1:

      (a)   (subject to clause 6.3) in the terms set out in Schedule 7; and

      (b)   that any statement in the GEAC UK Warranties or the GEAC UK Group
            Warranties or the GEAC UK Tax Warranties which is qualified as being
            made "so far as the Vendor is aware" or "to the best of the
            knowledge, information and belief of the Vendor" or any similar
            expression has been so qualified after all reasonable enquiries by
            the Vendor of each of Tom Pippy, Amritlal Jethwa, David Presneill,
            Marvyn Turk, Philip Jordan, Martin Brown and Michael Johns and after
            all reasonable enquiries (which shall not include enquiry in
            relation to any Warranty which does not directly or indirectly
            relate to his areas of responsibility) of each of Luis Longhi, Mark
            Cappell, Simon Young and Steve Moss; and

      (c)   that any statement in the GEAC GmbH Warranties or the Management
            Data Subsidiaries Warranties which is qualified as being made "so
            far as the Vendor is aware" or "to the best of the knowledge,
            information and belief of the Vendor" or any similar expression has
            been so qualifed after all reasonable enquiries by the Vendor of
            each of Tom Pippy, Amritlal Jethwa,

                                       27

<PAGE>

            David Presneill, Marvyn Turk, Philip Jordan, Martin Brown and
            Michael Johns and Katharina Oberpfalzer and after all reasonable
            enquiries (which shall not include enquiry in relation to any
            Warranty which does not directly or indirectly relate to his areas
            of responsibility) of each of Fritz Ramburger, Franz Necas, Rowan
            Harbick, Max Becker and Imgard Ernst.

6.2

      (a)   The Vendor shall indemnify Newco 1 on demand against any
            liabilities, losses, claims, costs, expenses or demand incurred or
            suffered by or made against the Purchasers (or either of them) or
            the Targets (or any of them) arising from the breach of one or more
            of:

            (i)   the General Warranties set out in paragraphs 1.1, 3.1, and 3.2
                  of Part A of schedule 7;

            (ii)  the GEAC UK Warranties set out in paragraphs 1.1 and 2.1 of
                  Part B of schedule 7;

            (iii) the GEAC UK Group Warranties set out in paragraph 2.1 of Part
                  C of schedule 7;

            (iv)  the GEAC GmbH Warranties set out in paragraphs 1.1, 2.2 and
                  2.3 of Part D of schedule 7;

            (v)   the Management Data Subsidiaries Warranties set out in
                  paragraphs 1.1 and 2.2 of Part E of schedule 7;

            (vi)  clause 2.3 in relation to the Sale Shares;

      (b)   For the avoidance of doubt, none of the Indemnities, nor the
            indemnities set out in this clause 6.2 nor any of the Warranties
            referred to in clause 6.2(a) shall be subject to the provisions of
            schedule 8 (save for paragraph 3 of schedule 8) nor shall they be
            qualified by any matter contained in or referred to in the
            Disclosure Letter.

6.3

      (a)   Save as provided in clause 6.2, the Warranties are qualified to the
            extent, but only to the extent, of those matters fairly disclosed in
            the Disclosure Letter and for this purpose it is agreed that the
            general disclosure of the Deloitte & Touche Due Diligence Report
            shall constitute fair disclosure.

      (b)

            (i)   all references in the General Warranties to the Targets shall
                  unless the context otherwise requires be construed as
                  references to each and every Target;

            (ii)  all the GEAC GmbH Warranties will apply to GEAC GmbH and any
                  reference in the GEAC GmbH Warranties to any matter or
                  circumstance shall be deemed to include such equivalent or
                  similar matter, law regulation or circumstance as shall be
                  applicable in any overseas jurisdiction whatsoever and with
                  such necessary changes (mutatis mutandis) as may be required
                  to give reasonable meaning and effect thereto in relation to
                  GEAC GmbH;

            (iii) all references in the Management Data Subsidiaries Warranties
                  to the Management Data Subsidiary shall unless the context
                  otherwise

                                       28

<PAGE>

                  requires be construed as references to each and every
                  Management Data Subsidiary and all the Management Data
                  Subsidiaries Warranties will apply to each and every
                  Management Data Subsidiary and any reference in the Management
                  Data Subsidiaries Warranties to any matter or circumstance
                  shall be deemed to include such equivalent or similar matter,
                  law, regulation or circumstance as shall be applicable in any
                  overseas jurisdiction whatsoever and with such necessary
                  changes (mutatis mutandis) as may be required to give
                  reasonable meaning and effect thereto in relation to each of
                  the Management Data Subsidiaries;

            (iv)  all references in the GEAC UK Tax Warranties to the Company
                  shall unless the context otherwise requires be construed as
                  references to each and every GEAC UK Group Company.

      (c)   Without prejudice to the terms of the Disclosure Letter, each of the
            paragraphs in schedule 7:

            (i)   shall be construed as a separate and independent warranty; and

            (ii)  save as expressly otherwise provided in this Agreement, shall
                  not be limited by reference to any other paragraph in schedule
                  7 or by any other provision of this Agreement

            and Newco 1 shall have a separate claim and right of action in
            respect of every Relevant Breach of each such warranty.

6.4   Pursuant to clause 4.1(i)(ii) Newco 1 shall have funded the repayment of
      the GEAC Inter-Company Loan. It is acknowledged by the parties that the
      loss suffered by Newco 1 in consequence of any Relevant Breach and/or any
      breach of the Management Data Warranties Deed may include, without
      prejudice to any claim for loss of bargain, all sums payable under or
      pursuant to this Agreement (including the funding and repayment of the
      GEAC Inter-Company Loan pursuant to clause 4.1(i)(ii)) and the Austrian
      Inter-Company Loan Assignment and the Software Assignment.

6.5   Subject to clause 6.2(b) all claims by Newco 1 for damages or compensation
      in respect of any Relevant Breach shall be subject to the provisions for
      the protection of the Vendor in schedule 8.

6.6   The Warranties shall not in any respect be extinguished or affected by
      Completion.

6.7   The Vendor agrees with the Purchasers (for themselves and as trustee for
      the Targets):

      (a)   that the giving by the Targets and/or any of their directors,
            employees, agents or advisers to the Vendor or their agents or
            advisers of any information or opinion in connection with the
            Warranties or the Tax Covenant or the Disclosure Letter or any of
            the Principal Documents or otherwise in relation to the business or
            affairs of the Targets or in connection with the negotiation and
            preparation of this Agreement or the Disclosure Letter or any of the
            Principal Documents shall not be deemed a representation, warranty
            or guarantee to the Vendor of the accuracy of such information or
            opinion;

                                       29

<PAGE>

      (b)   to waive any right or claim which it may have against any of the
            Targets and/or any of its directors, employees, agents or advisers
            for any error, omission or misrepresentation in any such information
            or opinion; and

      (c)   that any such right or claim shall not constitute a defence to any
            claim by either Purchaser under or in relation to this Agreement
            (including the Warranties or the Tax Covenant).

6.8   Newco 1 hereby acknowledges that it is not aware of any matter (other than
      fairly disclosed pursuant to the Disclosure Letter) which it knows gives
      it grounds to recover damages under the terms of this Agreement for breach
      of any of the Warranties. This acknowledgement is not to say that if
      further information comes to Newco l's knowledge following Completion,
      such information might not, when considered in conjunction with matters
      already known to Newco 1, give Newco 1 grounds for such recovery. For the
      purposes of this clause 6.8, references to the awareness or knowledge of
      Newco 1 shall be construed as references to the actual knowledge of Martin
      Green and Bal Johal after Newco 1 has made reasonable enquiry of Philip
      Jordan and Martin Brown and having reviewed the Deloitte & Touche Due
      Diligence Report and the Wragge & Co Due Diligence Report.

7     INDEMNITIES

7.1   The Vendor shall indemnify Newco 1 (for itself and as agent and trustee
      for Newco 2 and each Target) in respect of:

      (a)   (subject to clause 7.3, 7.5 and 7.7) any liabilities, losses,
            claims, costs and expenses incurred or suffered by or made against
            Newco 1 and/or the Targets (or any of them) arising as a result of
            any aspect of the GEAC UK Reorganisation (including without
            limitation any liability pursuant to the Regulations and any
            liability arising as a result of the unlawfulness of any part of the
            GEAC UK Reorganisation other than insofar as the aspect or matter
            giving rise to such liability, losses, claims, costs or expenses is
            dealt with by any of the remaining paragraphs of this clause 7);

      (b)   (subject to clause 7.3) any liabilities, losses, claims, costs and
            expenses incurred or suffered by or made against Newco 1 and/or the
            Targets (or any of them) arising as a result of any failure to
            transfer to the GEAC UK Subsidiary the absolute legal and beneficial
            property in and possession of any Smartstream Fixed Asset and/or
            Smartstream Moveable Asset the ownership or use of which is material
            to the conduct in the ordinary course of the Smartstream Business
            (as hitherto carried on) provided that this clause 7.1(b) shall not
            apply to any asset the use of which is material to the ordinary
            course of business of any company in the Vendor Group if
            arrangements are made in the Transitional Support Agreement Term
            Sheet for the shared use of such asset both in the business of the
            relevant member of the Vendor Group and in the Smartstream Business;

      (c)   (subject to clause 7.2 and 7.6) any costs and expenses of obtaining
            any third party consents to the transfer, assignment or novation of
            any of the Smartstream Customer Contracts or the Management Data
            Customer Contracts to or in favour of the GEAC UK Subsidiary, GEAC
            GmbH or any of the Management Data Subsidiaries, provided that in
            relation to any such contract such consent is obtained prior to the
            date when the contract would have terminated through effluxion of
            time and further provided that in expending such costs and expenses
            in relation to any particular contract Newco 1, Newco 2 or each
            relevant Target as the case may be has not acted in contravention of
            the provisions of clause 7.2;

                                       30

<PAGE>

      (d)   any payments which would have been payable to GEAC UK, GEAC GmbH or
            any of the Management Data Subsidiaries by a customer pursuant to a
            Smartstream Customer Contract or a Management Data Customer Contract
            had one of these companies been a contracting party but which
            payments are successfully avoided by such customer by reason of none
            of such companies either being a contracting party or having had
            such contract validly assigned to it (provided that the relevant
            Target has used its best endeavours (but with no obligation to
            expend money or to take any action which could damage the goodwill
            or reputation of its business) to recover such payment from such
            customer);

      (e)   (subject to clause 7.4) the amount payable to any supplier pursuant
            to a Smartstream Supply Contract or Smartstream Licence or a
            Management Data Supply Contract or Management Data Licence (which
            contract or Licence is not in the name of and has not been validly
            assigned to any of the Targets) in order to secure a contract or
            licence between such supplier and one of the Targets on similar
            terms to that subsisting prior to Completion;

      (f)   (subject to clause 7.3 and 7.5) any liability of GEAC GmbH to any
            other party pursuant to the Management Data Acquisition Agreement
            save where such liability is caused by the act or omission of GEAC
            GmbH after Completion in circumstances where it knew or should
            reasonably have known that such a liability would be caused thereby;

      (g)   all liabilities, losses, claims, costs and expenses incurred or
            suffered by or made against GEAC UK or the GEAC UK Subsidiary as a
            result of GEAC UK and/or the GEAC UK Subsidiary entering into the
            GEAC UK Bristol Property Licence to Occupy without having obtained
            all necessary consents to do so;

      (h)   all liabilities (including without limitation liabilities arising
            from breaches of Lease covenants and conditions) claims, costs and
            expenses of GEAC UK or the GEAC UK Subsidiary or Management Data
            (Deutschland) GmbH as the current or the original tenant of the
            properties mentioned below including without limitation:

            (i)   rent and all other day to day costs in respect of the said
                  properties and any cost incurred in connection with the
                  assignment of the leases in respect of such properties
                  pursuant to the terms of this agreement; and

            (ii)  any damages in respect of any breach of covenant due to any
                  unlawful assignment of the relevant lease of the said
                  properties or the unlawful occupation of the relevant property
                  by any company other than GEAC UK or Management Data
                  (Deutschland) GmbH (in respect of the premises in Germany) and
                  in respect of forfeiture arising from such a breach

                  (A)   the Cannon Street Property;

                  (B)   the High Wycombe Property;

                  (C)   the Twickenham Property;

                  (D)   the leasehold premises at Wagnerbriete 3D-83607
                        Holzkirchen Germany comprised in a contract dated 21

                                       31

<PAGE>

                        November 1991 made between Management Data Deutschland
                        GmbH (1) and Walter Wochinger (2); and

                  (E)   the Neston Property.

            as well as all liabilities, claims costs and expenses of GEAC UK or
            the GEAC UK Subsidiary or Management Data (Deutschland) GmbH
            incurred as a result of GEAC UK or the GEAC UK Subsidiary or
            Management Data (Deutschland) GmbH entering into any surety,
            guarantee authorised guarantee agreement or any other obligations or
            arrangement permitted in clause 3 of schedule 12 in respect of the
            said properties whereby GEAC UK or the GEAC UK Subsidiary or
            Management Data (Deutschland) GmbH may or shall be responsible for
            any such liabilities, claims, costs or expenses;

      (i)   all actions, proceedings, costs, claims, damages and expenses
            brought or made against or incurred by Newco 1 or any GEAC UK Group
            Company (or any of them) in so far as the same relate to any
            participation or involvement in the MAI (UK) Limited Retirement
            Benefits Scheme or the CLSI Executive Retirement Plan in respect of
            any employee or officer or former employee or officer of GEAC UK;

      (j)   (subject to clause 7.5) all liabilities, losses, claims, costs and
            expenses incurred or suffered by or made against GEAC UK in respect
            of the guarantee agreement dated 4 February 2000 and made between
            North East Essex Building Company (1) Just-Sites.com Limited (2) and
            GEAC Computers Limited (GEAC UK) (3);

      (k)   any sum less than (pound)1,000,000 in the bank account of GEAC UK at
            Completion;

      (l)   (subject to clause 7.5) any liability to George Wishart in relation
            to the termination of his employment with Management Data America
            Inc. and any claim by him against that company arising out of
            illness incurred by him in the course of his employment;

      (m)   the extent to which on Completion the net assets of GEAC UK are less
            than (pound)2,000,000 and the extent to which it has any liability
            whatsoever (actual or contingent);

      (n)   the extent to which on Completion the net assets of the GEAC UK
            Subsidiary are less than (pound)1,000,000 and the extent to which it
            has any liabilities whatsoever (actual or contingent) save for the
            GEAC Inter-Company Loan and liabilities arising in the ordinary
            course of the Smartstream Business;

      (o)   all fees payable to PricewaterhouseCoopers for audit and taxation
            work and advice for or relating to any financial period ending on or
            before the Completion Date in respect of GEAC UK or the GEAC UK
            Subsidiary provided that Newco 1 shall not agree any such fees
            without the prior consent of the Vendors;

      (p)   (subject to clause 7.5) all liabilities, losses, claims, costs and
            expenses comprising or in relation to the termination of employment
            of Messrs Minicanti and Zbinden;

      (q)   any VAT payable in respect of the Management Services Invoice;

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      (r)   all liabilities, claims, costs and expenses incurred by Newco 1 or
            Newco 2 in respect of any failure of the Vendor to fulfil its
            obligations under clause 5.12.

7.2   In the event that any Smartstream Customer Contracts or Management Data
      Customer Contracts are not following Completion in the name of any of the
      Targets for so long as the relevant customer raises no objection Newco 1
      and Newco 2 shall procure that the relevant Target shall continue to
      perform such contract as if it were the contracting party and the Vendor
      shall permit (or procure that the relevant Vendor Group company shall
      permit) such Target to do so (as appropriate) as its assignee, agent, or
      sub-contractor but on the basis that the entire benefit of such contract
      shall accrue to such Target including without limitation all revenue
      thereunder. Each such Target shall meet all the costs of performing each
      such contracts. For so long as the relevant customer raises no objection
      on the ground that such Target is not a contracting party to the relevant
      contract, Newco 1 shall procure that such Target continues to perform such
      contract and does not knowingly bring to the customer's attention the fact
      that it is not a contracting party.

7.3   The Vendor shall have no liability pursuant to clauses 7.1(a), 7.1(b), 7.1
      (c) or 7.1 (f) in relation to any matter which is capable of remedy by the
      Vendor if the Vendor remedies such matter within 30 days of receiving
      notice by Newco 1 of its claim for indemnification. As a condition of
      being able to claim indemnification pursuant to any of clauses 7.1(a),
      7.1(b), 7.1 (c) or 7.1(f) Newco 1 shall provide the Vendor with all
      assistance that it reasonably can (subject to being indemnified by the
      Vendor for any costs of doing so) to enable the Vendor to remedy the
      matter in question within 30 days of receiving notice and will not (save
      where acting bona fide it considers it to be necessary in the best
      interests of its business and after reasonable prior consultation with the
      Vendor) take any action which may compromise the Vendors ability to remedy
      the matter in question.

7.4   In the event of any supplier under a Smartstream Supply Contract a
      Smartstream Licence a Management Data Supply Contract or a Management Data
      Licence refusing or threatening to refuse to supply any product (including
      software) service, licence, permit or consent which it had supplied prior
      to Completion to any of the Targets (other than as a result of the Target
      making a conscious effort to encourage such supplier to do so) the
      Purchaser shall be entitled to so notify the Vendor in writing. The Vendor
      will then be allowed four weeks from such notification to attempt to
      procure the entering into by the supplier and the Target in question of an
      agreement on similar terms, mutatis mutandis, to the terms upon which the
      Supplier had previously supplied the Target in question. In the event that
      the Vendor does not succeed in procuring the entering into of such an
      agreement in such period, the Target will be entitled to pay such amount
      as the Target, acting reasonably and in good faith, considers to be the
      lowest the Supplier will accept to enter into the said agreement and the
      Vendor will be liable to reimburse the Purchaser for such amount pursuant
      to clause 7.1(e).

7.5   If any matter comes to the notice of Newco 1 which may give rise to a
      liability under clauses 7.1(a), 7.1(f), 7.1(g), 7.1(h), 7.1(j), 7.1(1) or
      7.1(p) Newco 1 shall:

      (a)   as soon as reasonably practicable give written notice of that matter
            to the Vendor, specifying in reasonable behaviour detail the nature
            of the potential liability and, so far as is practicable, the amount
            likely to be claimed in respect of it;

      (b)   not make any admission of liability, agreement or compromise with
            any person, body or authority in relation to that matter without the
            prior written consent of the Vendor such consent not to be
            unreasonably withheld or delayed;

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      (c)   in order to assist the Vendor in deciding how best to avoid,
            dispute, resist, compromise or defend any matter giving rise to such
            a liability as is referred to in this clause 9, give the Vendor and
            its professional advisers access on reasonable notice being given to
            the premises and personnel of Newco 1, Newco 2 or the Targets and to
            any relevant chattels, accounts, documents and records within the
            power or control of Newco 1, Newco 2 or the Target and allow the
            Vendor and its professional advisers to examine such premises,
            chattels, accounts, documents and records and to take copies at
            their own expense; and

      (d)   subject to the Vendor indemnifying the relevant Purchaser and/or
            Target to the relevant Purchaser's reasonable satisfaction against
            any liability, costs, damages or expenses which may be incurred,
            Newco 1 shall take or procure that Newco 2 or any of the Targets
            shall take such action as the Vendor may reasonably request to
            avoid, dispute, resist, compromise or defend any claim arising out
            of the matter in question.

      provided that nothing in this clause 7.5 shall prevent Newco 1, Newco 2 or
      any of the Targets from complying with any legal obligation to discharge
      any liability on its due date and provided further that any failure by
      Newco 1 to comply with any provision of this clause 7.5 relating to the
      giving of notice or the doing of any other thing shall not release the
      Vendor from any liability in respect of the subject matter thereof save to
      the extent that such liability has been increased as a direct consequence
      of Newco l's failure to comply with such provision in which case the
      Vendor shall be released from liability in respect of the relevant amount
      of increase.

7.6   Newco 1 shall not be entitled to make any claim pursuant to clause 7.1(c)
      or 7.1(d) after the period of 15 months from the Completion Date.

7.7   Newco 1 shall not be entitled to make any claim pursuant to clause 7.1 in
      so far as any such claim arises as a result of a claim by a Smartstream
      Employee arising in respect of the cessation of his membership of the GEAC
      UK Scheme following the GEAC UK Reorganisation as a result of the failure
      of the GEAC UK Subsidiary to offer him benefits as good as those he
      enjoyed under the GEAC UK Scheme.

8     PURCHASERS' WARRANTIES

8.1   Newco 1 warrants to the Vendor that:

      (a)   it is a private company duly incorporated and validly existing under
            the laws of England;

      (b)   it has the requisite corporate power and authority under its
            Memorandum of Association to enter into, execute, deliver and
            perform its obligations under this Agreement and the relevant
            Principal Documents to be entered into by it pursuant to this
            Agreement;

      (c)   the execution and delivery of this Agreement and the relevant
            Principal Documents to be entered into by it pursuant to this
            Agreement and the performance of its obligations under them have
            been duly authorised by all necessary corporate action on the part
            of it (whether under its Articles of Association or otherwise);

                                       34

<PAGE>

      (d)   this Agreement and the relevant Principal Documents to be entered
            into by it pursuant to this Agreement, when executed, constitute
            legal, valid and binding obligations of it in accordance with their
            respective term;

      (e)   the execution and delivery of this Agreement and the performance by
            Newco 1 of its obligations under, and compliance with the provisions
            of, this Agreement will not result in:

            (i)   any breach or violation by Newco 1 of any provision of its
                  constitution; or

            (ii)  any breach of, or constitute a default under, any instrument
                  or agreement to which Newco 1 is a party or by which Newco 1
                  is bound; or

            (iii) any breach of any law or regulation in any jurisdiction having
                  the force of law or of any order, judgment or decree of any
                  court or governmental agency by which any Newco 1 is bound;
                  and

      (f)   no consent, authorisation, licence or approval of Newco l's
            shareholders or of any governmental, administrative, judicial or
            regulatory body, authority or organisation is required to authorise
            the execution, delivery or enforceability of this Agreement,
            including the performance by Newco 1 of its obligations under this
            Agreement.

8.2   Newco 2 warrants to the Vendor in the terms set out in clauses 8.1 (a) to
      (f) above.

9     TAX COVENANTS

9.1

      (a)   Subject to clause 9.1 (b), the Vendor hereby covenants with Newco 1
            and Newco 1 covenants with the Vendor in the terms of schedule 4,
            the provisions of which shall take effect from Completion.

      (b)   For the purposes of clause 9.1(a), references in schedule 4 to "the
            Purchaser", are to "Newco 1".

10    VENDOR RESTRICTIVE COVENANTS

10.1  Each of the Vendor and GEAC Canada undertakes with each of the Purchasers
      that without the prior consent in writing of the Purchasers (such consent
      not to be unreasonably withheld or delayed) it will not (and will procure
      that each Vendor Group Company will not) whether by itself, its employees
      or agents and whether on its own behalf or on behalf of any other person,
      firm or company or otherwise howsoever:

      (a)   for the Prohibited Period carry on or otherwise be engaged,
            concerned or interested in any capacity (whether for reward or
            otherwise) in, provide any technical, commercial or professional
            advice to, or in any way assist any business which is or is about to
            be engaged in the development, production, distribution or sale of
            the GEAC UK Restricted Products or the GEAC GmbH Restricted Products
            or the Management Data Subsidiaries Restricted Products or any of
            them or the supply of the GEAC UK Restricted Services or the GEAC
            GmbH Restricted Services or the Management Data

                                       35
<PAGE>

            Subsidiaries Restricted Services or any of them in the Prohibited
            Area in competition with any of the Targets;

      (b)   for the Prohibited Period in relation to the GEAC UK Restricted
            Products or the GEAC GmbH Restricted Products or the Management Data
            Subsidiaries Restricted Products or any of them or the GEAC UK
            Restricted Services or the GEAC GmbH Restricted Services or the
            Management Data Subsidiaries Restricted Services or any of them
            solicit or canvass, accept orders from or otherwise deal with any
            person, firm, company or other organisation who:

            (i)   was a customer of any of the Targets at any time during the 3
                  years prior to the Completion Date; or

            (ii)  at the Completion Date was in the process of negotiating doing
                  business with any of the Targets; or

      (c)   for the period of two years commencing with the date of this
            Agreement solicit or entice away or endeavour to solicit or entice
            away from any of the Targets or employ any director or manager or
            salesman or software developer or other senior employee of any
            Target on the Completion Date, whether or not that person would
            commit any breach of his contract of employment by reason of his
            leaving the service of such Target provided always that this
            provision shall cease to apply in relation to any person whose
            employment with any Target shall have terminated once the period of
            three months following such termination shall have expired.

10.2  Each of the Vendor and GEAC Canada undertakes with each of the Purchasers
      that it will not (and will procure that each Vendor Group Company will
      not) at any time after Completion whether by itself, its employees or
      agents or otherwise howsoever:

      (a)   engage in any trade or business using any of the Management Data
            Business Names or any name incorporating the Management Data
            Business Names or any similar name or names or any colourable
            imitation thereof;

      (b)   in the course of carrying on any trade or business, claim, represent
            or otherwise indicate any then present association with any Target;

      (c)   subject to clause 10.4, without the consent of the Purchasers use,
            whether on his own behalf or on behalf of any third party, or
            divulge to any third party, any of the Smartstream Confidential
            Information GEAC GmbH Confidential Information or Management Data
            Subsidiaries Confidential Information.

10.3

      (a)   The restrictions in clauses 10.2(c) shall not apply:

            (i)   in respect of any of the Smartstream Confidential Information,
                  or Management Data Confidential Information which is in or
                  becomes part of the public domain, other than through a breach
                  of the obligations of confidentiality set out in this
                  Agreement; or

            (ii)  to either the Vendor or GEAC Canada to the extent that it is
                  required to disclose any Smartstream Confidential Information,
                  or Management Data Confidential Information by any applicable
                  law, governmental order, decree, regulation, licence or rule
                  or pursuant to

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<PAGE>

                  the regulations of any securities exchange or regulatory or
                  governmental body to which it is subject.

10.4  Each of the Vendor and GEAC Canada agrees with the Purchasers that the
      restrictive covenants in clauses 10.1 to 10.2 inclusive are reasonable and
      necessary for the protection of the value of the Sale Shares and the
      Targets and that having regard to that fact those covenants do not work
      harshly on it.

10.5  Each of the Vendor and GEAC Canada hereby undertakes with the Purchasers
      that it will at the request and cost of the Vendor and/or GEAC Canada
      enter into a direct agreement or undertaking with any Target or Targets
      whereby it will accept restrictions and provisions corresponding to the
      restrictions and provisions contained in clauses 10.1 to 10.4 inclusive
      (or such of them as may be appropriate in the circumstances) in relation
      to such products and services and such area and for such period as such
      company or companies may reasonably require for the protection of its or
      their legitimate interests.

10.6  The provisions of this clause 10 shall not preclude the Vendor, or any
      Vendor Group Company from purchasing all the share capital of any company,
      corporation or body corporate ("CORPORATE TARGET") or a business (or part
      thereof) or undertaking (or part thereof) or assets (or part thereof and
      including, without limitation, contractual commitments) ("BUSINESS
      TARGET") which contains a company or business whose activities (or part
      thereof) would be in breach of clause 10.1(a) ("RESTRICTED BUSINESS")
      provided that the annual revenues of such company or business attributable
      to the Restricted Business do not exceed (pound)2,000,000 and provided
      further that the Vendor has procured that the Purchasers have the
      opportunity to purchase such company or Restricted Business for a
      consideration equal to the proportion of the consideration paid by the
      Vendor, GEAC Canada or other Vendor Group Company for the Corporate Target
      or Business Target as appropriate equal to the proportion of the Corporate
      Target's or Business Target as appropriate overall annual revenues
      represented by such Restricted Business.

11    PURCHASERS COVENANT

11.1  Each of the Purchasers undertakes with the Vendor (for itself and as
      trustee for each Vendor Group Company) that without the prior consent in
      writing of the Vendor (such consent not to be unreasonably withheld or
      delayed) it will not (and will procure no Target shall) whether by itself,
      its employees or its agents and whether on its own behalf or on behalf of
      any other person, firm or company or otherwise howsoever for the period of
      two years commencing on the date of this Agreement solicit or entice away
      or endeavour to entice away from any Vendor Group Company any director or
      manager or salesman or software developer or other senior employee of any
      Vendor Group Company as at the Completion Date whether or not that person
      would commit any breach of his contract of employment by reason of his
      leaving the service of such Vendor Group Company provided always that this
      provision shall cease to apply in relation to any person whose employment
      with any Vendor Group Company shall have terminated once the period of
      three months immediately following such termination shall have expired.

11.2  The Purchasers shall deliver to the Vendor within 7 days of Completion
      certified copies of certificates of incorporation on change of name of
      both GEAC UK Group Companies to names not including the name "GEAC" and
      agree to procure that each GEAC UK Company remove the name "GEAC" from
      their advertising, stationery and other materials within 3 months of the
      Completion Date and undertakes that thereafter none of the Purchasers nor
      any Target shall use the name "GEAC".

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<PAGE>

12    VENDOR AND GEAC CANADA CAPACITY WARRANTIES

12.1  The Vendor and GEAC Canada jointly and severally warrant and represent to
      each of the Purchasers as follows:

      (a)   each of the Vendor and GEAC Canada is a limited company duly
            incorporated and validly existing under the Canada Business
            Corporations Act 1982 (as amended) and of good standing;

      (b)   each of the Vendor and GEAC Canada has the requisite corporate power
            and authority under its constitution to enter into, execute, deliver
            and perform its obligations under this Agreement and each of the
            Principal Documents;

      (c)   the execution and delivery of this Agreement and the performance of
            the obligations of each of the Vendor and GEAC Canada under this
            Agreement and each of the Principal Documents have been duly
            authorised by all necessary corporate action on the part of each of
            the Vendor and GEAC Canada (whether under its constitution or
            otherwise);

      (d)   the obligations of each of the Vendor and GEAC Canada under this
            Agreement and each of the Principal Documents, constitute legal,
            valid and binding obligations of each on the Vendor and GEAC Canada
            in accordance with their respective terms;

      (e)   the execution and delivery of this Agreement and each of the
            Principal Documents and the performance by each of the Vendor and
            GEAC Canada of its obligations under, and compliance with the
            provisions of, this Agreement, by each of the Vendor and GEAC Canada
            will not result in:

            (i)   any breach or violation by any of the Vendor and GEAC Canada
                  of any provision of its constitution; or

            (ii)  any breach of, or constitute a default under, any instrument
                  or agreement to which any of the Vendor or GEAC Canada is a
                  party or by which any of the Vendor or GEAC Canada is bound;
                  or

            (iii) any breach of any law or regulation in any jurisdiction having
                  the force of law or of any order, judgment or decree of any
                  court or governmental agency by which any of the Vendor or
                  GEAC Canada is bound; and

      (f)   no consent, authorisation, licence or approval of any of the
            Vendor's or GEAC Canada's shareholders or of any governmental,
            administrative, judicial or regulatory body, authority or
            organisation is required to authorise the execution, delivery,
            validity, enforceability or admissibility in evidence of this
            Agreement, including, or the performance by each of the Vendor and
            GEAC Canada of its obligations under this Agreement, and the
            Principal Documents.

13    ANNOUNCEMENTS

13.1  The parties shall agree the terms of two announcements relating to the
      sale and purchase hereunder one to be made by the Vendor and one to be
      made by Newco 1 on Completion and thereafter no party shall require the
      consent of any other to any further announcements concerning the sale and
      purchase.

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<PAGE>

14    RELEASES, WAIVERS ETC., BY THE PURCHASERS

14.1  The Purchasers may jointly, in their discretion, in whole or in part
      release, compound or compromise, or waive their rights or grant time or
      indulgence in respect of, any liability to it under this Agreement and may
      do so as regards any one or more of the Vendor or GEAC Canada under that
      liability without in any way prejudicing or affecting the liability of or
      its rights against any other of the Vendor or GEAC Canada as appropriate
      in respect of the same or a like liability, whether joint and several or
      otherwise.

14.2  Subject to clause 14.3, neither the single or partial exercise or
      temporary or partial waiver by either of the Purchasers of any right, nor
      the failure by either of the Purchasers to exercise in whole or in part
      any right or to insist on the strict performance of any provision of this
      Agreement, nor the discontinuance, abandonment or adverse determination of
      any proceedings taken by either of the Purchasers to enforce any right or
      any such provision shall (except for the period or to the extent covered
      by any such temporary or partial waiver) operate as a waiver of, or
      preclude any exercise or enforcement or (as the case may be) further or
      other exercise or enforcement by either of the Purchasers of, that or any
      other right or provision.

14.3  All references in clause 14.2 to:

      (a)   any right shall include any power, right or remedy conferred by this
            Agreement on, or provided by law or otherwise available to either
            of, the Purchasers; and

      (b)   any failure to do something shall include any delay in doing it.

14.4  The giving by either of the Purchasers of any consent to any act which by
      the terms of this Agreement requires such consent shall not prejudice the
      right of either of the Purchasers to withhold or give consent to the doing
      of any similar act.

15    NOTICES

15.1  Except as otherwise provided in this Agreement, every notice under this
      Agreement shall be in writing and shall be deemed to be duly given if it
      (or the envelope containing it) identifies the party to whom it is
      intended to be given as the addressee and:

      (a)   it is delivered by being handed personally to the addressee (or,
            where the addressee is a corporation, any one of its directors or
            its secretary); or

      (b)   the envelope containing the notice is properly addressed to the
            addressee at his authorised address and duly posted by the recorded
            delivery service (or by airmail registered post if overseas);

      and, in proving the giving or service of such notice, it shall be
      conclusive evidence to prove that the notice was duly given within the
      meaning of this clause 15.1.

15.2  A notice sent by post (or the envelope containing it) shall not be deemed
      to be duly posted for the purposes of clause 15.1(b) unless it is put into
      the post properly stamped or with all postal or other charges in respect
      of it otherwise prepaid.

15.3  For the purposes of this clause 15 the authorised address of each of the
      Targets shall be the address of its registered office for the time being.

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<PAGE>

15.4  For the purposes of this clause 15, the authorised address of each of the
      Vendor and GEAC Canada shall be the registered office address for the time
      being of the GEAC Computer Corporation Subsidiary and any notice served at
      such address shall be effective only if marked "for the attention of the
      Finance Director of GEAC Limited". Every notice served on the either
      Vendor pursuant to this Agreement must be copied to, (i) GEAC Computer
      Corporation Limited, 4100 Yonge Street, Suite 601, Toronto, Ontario,
      Canada M2P 2G2 (or such other address as notified to Newco 1 from time to
      time) marked for the attention of the Corporate Secretary, (ii) GEAC
      Computer Corporation Limited, at the same address, marked for the
      attention of the General Counsel and (iii) GEAC Computer Corporation
      Limited, at the same address, marked for the attention of the Senior Vice
      President M & A.

15.5  Any notice duly given within the meaning of clause 15.1 shall be deemed to
      have been both given and received:

      (a)   if it is delivered in accordance with clause 15.1(a) or 15.1(b), on
            such delivery;

      (b)   if it is duly posted or transmitted in accordance with clause
            15.1(b) by any of the methods therein specified, on the second (or,
            when sent airmail, fifth) business day after the day of posting.

15.6  For the purposes of this clause 15 "notice" shall include any request,
      demand, instruction, communication or other document.

16    ENTIRE AGREEMENT

16.1  This Agreement and the Principal Documents constitute the entire agreement
      between the parties in relation to the subject matter covered and
      supersede any previous agreement between the parties in relation to such
      matters which shall cease to have any further effect. It is agreed that:

      (a)   no party has entered into this Agreement in reliance upon any
            statement, representation, warranty or undertaking which is not set
            out or referred to in this Agreement or the Principal Documents;

      (b)   in the absence of fraud, no party will have any remedy in respect of
            any untrue statement, made to it or its representatives or agents,
            prior to this Agreement being entered into and upon which it or they
            relied other than representations, warranties or undertakings set
            out or referred to in this Agreement or the Principal Documents and
            such party's only remedy in respect of representations, warranties
            and undertakings set out in this Agreement or the Principal
            Documents will be damages for breach of contract; and

      (c)   this clause shall not exclude any liability for fraudulent
            misrepresentation.

      In respect of the GEAC UK Acquisition, the GEAC GmbH Acquisition and the
      Management Data Subsidiaries Acquisition, the Vendor and GEAC Canada
      hereby confirm that there are no other agreements between any of them or
      any of them and the Targets or any Vendor Group Company other than this
      Agreement and any agreements referred to in this Agreement.

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<PAGE>

17    ALTERATIONS

17.1  No purported alteration of this Agreement shall be effective unless it is
      in writing, refers specifically to this Agreement and is duly executed by
      each party hereto.

18    SEVERABILITY

18.1  Each provision of this Agreement is severable and distinct from the
      others. The parties intend that every such provision shall be and remain
      valid and enforceable to the fullest extent permitted by law. If any such
      provision is or at any time becomes to any extent invalid, illegal or
      unenforceable under any enactment or rule of law, it shall to that extent
      be deemed not to form part of this Agreement but (except to that extent in
      the case of that provision) it and all other provisions of this Agreement
      shall continue in full force and effect and their validity, legality and
      enforceability shall not be thereby affected or impaired, provided that
      the operation of this clause would not negate the commercial intent and
      purpose of the parties under this Agreement.

18.2  If any provision cified herein being in of this Agreement is illegal or
      unenforceable as a result of any period speexcess of that permitted by a
      Relevant Authority, that provision shall take effect with the substitution
      of the longest period acceptable to the Relevant Authority subject to it
      not negating the commercial intent of the parties under this Agreement.

19    COUNTERPARTS

19.1  This Agreement may be entered into in the form of two or more counterparts
      each executed by one or more of the parties but, taken together, executed
      by all and, provided that all the parties so enter into the Agreement,
      each of the executed counterparts, when duly exchanged or delivered, shall
      be deemed to be an original, but, taken together, they shall constitute
      one instrument.

20    PAYMENT OF COSTS

20.1  Each of the parties shall be responsible for its respective legal and
      other costs incurred in relation to the negotiation, preparation and
      completion of this Agreement including the Principal Documents and all
      ancillary documents.

21    SUCCESSORS AND ASSIGNS

21.1  This Agreement shall be binding on and shall enure for the benefit of the
      successors in title of each party.

21.2  Save as provided in clauses 21.3 and 21.4, none of the parties hereto
      shall be entitled to assign the benefit of any rights under this
      Agreement.

21.3  The benefit of this Agreement (including the Warranties) shall be freely
      assignable by either of the Purchasers to each other or to any holding
      company or subsidiary of either of the Purchaser and/or to The Royal Bank
      of Scotland, Barclays Bank plc, 3i Group plc and to any parties who from
      time to time provide debt finance to the Purchasers (or either of them)
      including for the avoidance of doubt The Royal Bank of Scotland plc, RBS
      Mezzanine Limited and Barclays Bank and, in the event of any such
      assignment, all references in this Agreement to the Purchasers or either
      of them as appropriate shall be deemed to include its assigns.

21.4  The benefit of clauses 5.5 and 5.8 of this Agreement shall be freely
      assignable by the Vendor to any holding company or subsidiary of the
      Vendor and in the event of any

                                       41

<PAGE>

      such assignment, all references in this Agreement to the Vendor shall be
      deemed to include its assigns.

21.5  Save as provided in clause 21.3 and 21.4 nothing in this Agreement or in
      any Principal Document shall confer or is intended to confer on any third
      party any benefit or right which that third party would not have but for
      the provisions of the Contracts (Rights of Third Parties) Act 1999.

22    APPLICABLE LAW AND SUBMISSION TO JURISDICTION

22.1  This Agreement shall be governed by and construed in accordance with
      English law and the parties hereby submit to the exclusive jurisdiction of
      the High Court of Justice in England for the purpose of hearing and
      determining any suit, action or proceedings which may arise out of or in
      connection with this Agreement.

23    ADDRESS FOR SERVICE

23.1

      (a)   Each of the Vendor and GEAC Canada ("THE APPOINTOR") hereby
            irrevocably authorises and appoints the GEAC Computer Corporation
            Subsidiary to accept on its behalf service of all legal process
            arising out of or connected with this Agreement.

      (b)   Service of such process on the person for the time being authorised
            under clause 23.1(a) to accept it on behalf of the appointor shall
            be deemed to be service of that process on the appointor.

IN WITNESS whereof this Agreement has been entered into as a deed the day and
year first above written.

                                       42

<PAGE>

EXECUTED as a Deed by               )
GEAC CANADA LIMITED                 )
acting by:                          )

                 A.S.O.                    "Geac Canada Limited"

                 A.S.A.                    "Geac Canada Limited"

EXECUTED as a Deed by               )
GEAC COMPUTER CORPORATION           )
LIMITED                             )
acting by:                          )

                 A.S.O.                    "Geac Computer Corporation Limited"

                 A.S.O.                    "Geac Computer Corporation Limited"

EXECUTED as a Deed by               )
INGLEBY (1306)                      )
LIMITED                             )
acting by:                          )

                 Director                  "Ingleby (1306) Limited"

                 Director/Secretary        "Ingleby (1306) Limited"

                                       43

<PAGE>

EXECUTED as a Deed by               )
SBS INTERNATIONAL HOLDINGS          )
acting by:                          )

                 Director                  "SBS International Holdings"

                 Director/Secretary        "SBS International Holdings"

                                       44

<PAGE>

                                   SCHEDULE 7

                        MATTERS REPRESENTED AND WARRANTED

                           PART A - GENERAL WARRANTIES

1        Schedules

2        GEAC UK Reorganisation

3        Encumbrances/Debts

<PAGE>

                           PART A - GENERAL WARRANTIES

1        SCHEDULES

1.1      The facts stated in schedules 1, 2 and 3 are correct.

2        GEAC UK REORGANISATION

2.1      The GEAC UK Reorganisation Step Plan is accurate in all respects

3        ENCUMBRANCES/DEBTS

3.1      All Guarantees and Security Interests given by the Targets (or any of
         them) have been released.

3.2      Save in respect of the GEAC Inter-Company Loan and in respect of such
         matters to be provided for in the Working Capital Statement, there are
         no amounts due from the Vendor Group (or any Vendor Group Company) to
         the Targets (or any of them) or due to the Vendor Group (or any Vendor
         Group Company) from the Targets (or any of them).

<PAGE>

                           PART B - GEAC UK WARRANTIES

1        GEAC UK Sale Shares

2        GEAC UK

3        Debtors and Creditors

4        GEAC UK Subsidiaries

5        Directors and Employees

6        Pensions

7        Unissued Capital

8        Litigation, Offences and Processes

9        Special contracts and arrangements

10       Transactions with Shareholders or Directors

11       Administration

12       Effect of this Agreement

<PAGE>

                           PART B - GEAC UK WARRANTIES

1     GEAC UK SALE SHARES

1.1   All the GEAC UK Sale Shares are fully paid or are properly credited as
      fully paid and the Vendor is the sole legal and beneficial owner of the
      entire issued share capital of GEAC UK as set out against the Vendor's
      name in column (d) of Part A of schedule 1 free from all Security
      Interests, claims or other third party rights (including rights of
      pre-emption) of any nature whatsoever.

2     GEAC UK

2.1   Since the Smartstream Business Transfer Date, GEAC UK has not traded or
      undertaken any activities of any sort (save as the holding company of the
      GEAC UK Subsidiary) and has incurred no liabilities or obligations actual
      or contingent.

3     DEBTORS AND CREDITORS

3.1   GEAC UK has no bank indebtedness (including hire purchase and lease type
      arrangements) and has not agreed to create or permitted to arise any
      mortgage or charge or other Security Interest or encumbrance.

3.2   GEAC UK is not owed any moneys other than in the ordinary course of
      business.

4     GEAC UK SUBSIDIARIES

4.1   GEAC UK:

      (a)   has never had during the period of five years ended on the
            Completion Date any subsidiary other than the GEAC UK Subsidiary;

      (b)   directly or indirectly owns free from encumbrances the whole of the
            issued share capital of the GEAC UK Subsidiary;

      (c)   has not during the period of five years ended on the Completion Date
            been a subsidiary of any company other than the Vendor; and

      (d)   holds no shares in the capital of any company other than the GEAC UK
            Subsidiary

5     DIRECTORS AND EMPLOYEES

5.1   GEAC UK does not have any employees, consultants nor directors, save as
      disclosed in the Disclosure Letter.

5.2   So far as the Vendor is aware, no person is a shadow director of GEAC UK
      within the meaning of section 741(2) CA 1985.

<PAGE>

6     PENSIONS

6.1   There are no agreements, arrangements, customs or practices (whether
      legally enforceable or not) in operation at the date hereof for the
      payment of or contribution towards any pensions, allowances, lump sums or
      other like benefits on retirement or on death or during periods of
      sickness or disablement for the benefit of any of GEAC UK's employees or
      directors or former employees or former directors or for the benefit of
      dependants of any of those persons nor has any proposal to establish any
      such agreement or arrangement been announced.

7     UNISSUED CAPITAL

7.1   There are no agreements or instruments in force which require or confer
      the right (conditionally or unconditionally) to require the issue of any
      share or loan capital of GEAC UK now or at any time in the future nor are
      there any agreements restrictions or obligations entered into by or
      binding on GEAC UK as to its unissued share or loan capital.

8     LITIGATION, OFFENCES AND PROCESSES

8.1   GEAC UK is not party to any litigation (whether criminal or civil),
      arbitration, reference of any dispute or disagreement to an expert or any
      alternative dispute resolution process pursuant to any binding obligations
      on GEAC UK and so far as the Vendor is aware, there are no facts or
      circumstances likely to give rise to such litigation, arbitration,
      reference or any alternative dispute resolution process.

8.2   No undischarged injunction has been granted against GEAC UK and GEAC UK
      has given no formal undertaking which remains outstanding or unfulfilled
      to any Court or to any third party arising out of any legal proceedings.

8.3   No order has been made or petition served or resolution passed for the
      winding up of GEAC UK nor, so far as the Vendor is aware, has any person
      threatened to present such a petition or convened or threatened to convene
      a meeting of GEAC UK to consider a resolution to wind up GEAC UK; no
      distress or execution has been levied on any asset of GEAC UK nor, so far
      as the Vendor is aware has any person threatened any such distress or
      execution; so far as the Vendor is aware no person has appointed or
      threatened to appoint a receiver in respect of GEAC; so far as the Vendor
      is aware there is no unfulfilled or unsatisfied judgement or court order
      outstanding against GEAC UK.

8.4   So far as the Vendor is aware there has been no material violation by GEAC
      UK and/or any of its officers of any Official Requirement of the United
      Kingdom, the European Communities or any local laws of any other
      jurisdiction or any ruling penalty or sanction.

9     SPECIAL CONTRACTS AND ARRANGEMENTS

9.1   GEAC UK has not at any time:

<PAGE>

      (a)   repaid, redeemed or purchased or agreed to repay, redeem or purchase
            any shares of any class of its share capital or otherwise reduced or
            agreed to reduce its issued share capital or any class thereof; or

      (b)   directly or indirectly provided any financial assistance (as defined
            for the purpose of section 151 CA 1985) for the purpose of the
            acquisition of shares of GEAC UK or any holding company of GEAC UK
            or for the purpose of reducing or discharging any liability incurred
            in any such acquisition whether pursuant to section 155 CA 1985 or
            otherwise; or

      (c)   capitalised or agreed to capitalise in the form of shares,
            debentures or other securities or in paying up any amounts unpaid on
            any shares debentures or other securities any profits or reserves of
            any description or passed or agreed to pass any resolutions to do
            so.

10    TRANSACTIONS WITH SHAREHOLDERS OR DIRECTORS

10.1  So far as the Vendor is aware no transactions, contracts or legally
      binding arrangements have been entered into to which GEAC UK is a party:

      (a)   in which a shareholder in or director of GEAC UK or any person
            connected with a shareholder in or director of GEAC UK has been
            interested whether directly or indirectly; or

      (b)   which fall within the definition of "transaction with a related
            party" contained in Chapter 11 of the Listing Rules published by The
            London Stock Exchange.

10.2  So far as the Vendor is aware (save for expenses and claims arising in the
      ordinary course of business) no monies are owed by GEAC UK to a
      shareholder in or director of GEAC UK (or to any person connected with any
      such shareholder or director) or to any company or partnership in which
      any of such directors are directly or indirectly interested other than as
      holders of listed securities.

10.3  So far as the Vendor is aware GEAC UK has no debts owed to it by any of
      its directors or by any Vendor Group Company (or by a person connected
      with any such director or company) or by any company in which the
      directors of GEAC UK are directly or indirectly interested (other than as
      holders of listed securities) nor does any Vendor Group Company have any
      claim(s) against GEAC UK on any account whatsoever including claims for
      compensation for loss of office or for unfair dismissal or redundancy
      payment.

10.4  With the exception of each Target, no Vendor Group Company has any
      interest in any partnership or company (whether limited or unlimited and
      whether by way of share holding, directorship or employment) and which is
      in competition with GEAC UK.

<PAGE>

11    ADMINISTRATION

11.1  There are attached to the Disclosure Letter true and accurate copies of
      the Memorandum and Articles of Association of GEAC UK incorporating all
      amendments made up to and including the date hereof.

11.2  The register of members of GEAC UK contains a true and accurate record of
      the members and all former members of GEAC UK and their holdings of shares
      in the capital of GEAC UK.

11.3  All mortgages charges and debentures by or in favour of GEAC UK to which
      section 395 CA 1985 applies have been registered in accordance with the
      provisions of that section.

11.4  So far as the Vendor is aware no direction has been given to GEAC UK under
      section 28 CA 1985.

11.5  All returns, particulars, resolutions and other documents required to be
      filed with or delivered to the Registrar of Companies and so far as the
      Vendor is aware the Department of Trade and Industry by GEAC UK have been
      correctly and properly prepared and so filed or delivered.

11.6  So far as the Vendor is aware all the accounts books ledgers and financial
      and other material records of whatsoever kind of GEAC UK are held or
      stored in means which are under the exclusive ownership and control of
      GEAC UK or are available to GEAC UK, have so far as the Vendor is aware at
      all times been properly and in all material respects accurately kept and
      completed, and so far as the Vendor is aware record all matters required
      to be entered therein by CA 1985, so far as the Vendor is aware do not
      contain or reflect any material inaccuracies or discrepancies.

12    EFFECT OF THIS AGREEMENT

12.1  So far as the Vendor is aware compliance with the terms of this Agreement
      does not and will not:

      (a)   conflict with or result in a breach of or constitute a default under
            any of the terms, conditions or provisions of any material agreement
            or material instrument to which GEAC UK is a party or any provision
            of the Memorandum or Articles of Association of GEAC UK or any
            material lease, contract, order, judgement, award, injunction or
            regulation or Security Interest by which or to which any material
            asset of GEAC UK is bound or subject; or

      (b)   relieve any person from any material contractual obligation to GEAC
            UK or enable any person to terminate any such obligation or any
            right of GEAC UK or to exercise any material right in respect of
            GEAC UK; or

      (c)   result in the creation, imposition, crystallisation or enforcement
            of any Security Interest on any of the assets of GEAC UK; or

<PAGE>

      (d)   result in any present or future indebtedness of GEAC UK becoming due
            or capable of being declared due and payable prior to its stated
            maturity

and "material" shall mean for the purposes of this paragraph 12.1 such matter
which would give rise to a single claim for a breach of paragraph 12.1 of in
excess of (pound)100,000.

<PAGE>

                        PART C - GEAC UK GROUP WARRANTIES

1.       GEAC Financial Information

2.       Position prior to and since Smartstream Business Transfer Date

3.       Debtors and Creditors

4.       Subsidiaries

5.       Real Property

6.       Assets

7.       Insurances

8.       Conduct of Business

9.       Directors and Employees

10.      Business Name

11.      Pensions

12.      Commercial Contracts and Joint Ventures

13.      Unissued Capital

14.      Intellectual Property

15.      Litigation, Offences and Processes

16.      Grants

17.      Special contracts and arrangements

18.      Transactions with Shareholders or Directors

19.      Administration

20.      Competition Matters

21.      Information Technology Systems

22.      Effect of this Agreement

<PAGE>

                        PART C - GEAC UK GROUP WARRANTIES

1.    GEAC FINANCIAL INFORMATION

1.1   The GEAC Financial Information has been prepared on the basis of the
      Smartstream Business being a division of GEAC UK. As a division of GEAC
      UK, the Smartstream Business is subject to cost allocations for shared
      facilities and for shared services that may differ from actual costs. GEAC
      UK was prior to the Completion Date a subsidiary of the Vendor. The Vendor
      is a Canadian company and its consolidated financial statements are
      prepared according to accounting principles and policies adopted by that
      company from time to time. On this basis the GEAC Financial Information
      has been prepared consistently for the past three years and presents
      fairly the results of the Smartstream Business' operations for this time
      period.

2.    POSITION PRIOR TO AND SINCE THE SMARTSTREAM BUSINESS TRANSFER DATE

2.1   Prior to the Smartstream Business Transfer Date, the GEAC UK Subsidiary
      was at all times since 1994 dormant within the meaning of CA1985.

2.2   So far as the Vendor is aware, during the period of six months preceding
      the Smartstream Business Transfer Date:

      (a)   the creditors of the Smartstream Business were paid in with the
            ordinary course of the Smartstream Business; and

      (b)   no customer or supplier of the Smartstream Business ceased to trade
            or materially reduced the level of its trading with the Smartstream
            Business.

2.3   So far as the Vendor is aware since the Smartstream Business Transfer
      Date:

      (a)   the creditors of the Smartstream Business have been paid in the
            ordinary course of the Smartstream Business;

      (b)   no customer or supplier of the Smartstream Business has ceased to
            trade or materially reduced the level of its trading with the
            Smartstream Business.

2.4   So far as the Vendor is aware since the Smartstream Business Transfer
      Date, the GEAC UK Subsidiary has not:

      (a)   agreed to acquire any business; or

      (b)   disposed of any of its assets except in the ordinary and normal
            course of business; or

      (c)   incurred any capital commitment.

3.    DEBTORS AND CREDITORS

3.1   Save in respect of GEAC Inter-Company Loan, the GEAC UK Subsidiary has no
      indebtedness other than indebtedness which has arisen in the ordinary
      course and has not agreed to create or permitted to arise any mortgage or
      charge or other Security Interest, except as disclosed in the GEAC
      Financial Information.

<PAGE>

3.2   So far as the Vendor is aware the GEAC UK Subsidiary is not owed any
      moneys other than in the ordinary course of business.

3.3   The Smartstream Debtors have not been factored or discounted.

3.4   The GEAC UK Subsidiary has not given any Guarantee.

3.5   Neither the GEAC UK Subsidiary nor GEAC UK is not in default under the
      terms of any borrowing made by it.

4.    SUBSIDIARIES

4.1   The GEAC UK Subsidiary:

      (a)   has never had any subsidiary;

      (b)   has not since its incorporation been a subsidiary of any company
            other than GEAC UK; and

      (c)   holds no shares in the capital of any company.

5.    REAL PROPERTY

5.1   The GEAC UK Properties comprise all the properties occupied for the
      purposes of the Smartstream Business immediately prior to the Smartstream
      Business Transfer Date.

5.2   Neither GEAC UK nor the GEAC UK Subsidiary use or occupy or have any
      interest in any land and/or buildings for the purposes of its business
      other than the GEAC UK Properties.

5.3   The description of the GEAC UK Properties and the particulars of the
      estate owner and present use contained in Part A of schedule 3 are
      correct.

5.4   In this paragraph the expression "THE PRESENT USE" means in respect of
      each of the GEAC UK Properties the present use specified in Part A of
      schedule 3. Save as specified in the Disclosure Letter:

      (a)   GEAC UK has legal title to the GEAC UK Properties;

      (b)   all covenants, restrictions and stipulations which do affect the
            GEAC UK Properties (including covenants contained in Leases under
            which the GEAC UK Properties are held) have been complied with in
            all material respects and no outstanding notice of breach has been
            received;

      (c)   the GEAC UK Subsidiary and/or GEAC UK is in exclusive and undisputed
            occupation of the whole of each of the GEAC UK Properties;

      (d)   save as contemplated by this Agreement the GEAC UK Properties are
            not subject to (or to any agreement to create) any lease, tenancy,
            licence to occupy, mortgage or charge, option or right of
            pre-emption;

      (e)   so far as the Vendor is aware, no party claims the benefit of any
            right, easement, reservation or other privilege or encumbrance in or
            over the GEAC UK Properties adverse to the title or interest of
            either GEAC UK or the GEAC UK Subsidiary or the present use;

<PAGE>

      (f)   so far as the Vendor is aware the GEAC UK Properties and all
            buildings thereon and the present use thereof comply in all material
            respects with all relevant Town and Country Planning legislation,
            by-laws and regulations and no consent or approvals obtained
            thereunder are temporary or personal (other than to a GEAC UK Group
            Company) or subject to any conditions which have not been fully
            complied with;

      (g)   so far as the Vendor is aware the GEAC UK Properties each comply in
            all material respects with the Offices Shops and Railway Premises
            Act 1963, the Fire Precautions Act 1971, the Health and Safety at
            Work etc. Act 1974 and all other relevant statutory requirements and
            all orders consents or permissions given thereunder;

      (h)   the GEAC UK Properties comply in all material respects with current
            fire regulations;

      (i)   all title deeds and documents required to prove the title of GEAC UK
            and/or the GEAC UK Subsidiary to the GEAC UK Properties are in the
            possession of or under the control of GEAC UK and/or the GEAC UK
            Subsidiary and have been delivered to the Purchasers' Solicitors.

5.5   GEAC UK has not received any adverse surveyors engineers or other
      professional report in respect of any of the GEAC UK Properties during the
      2 years prior to the date of this agreement in respect of which any
      recommendations remain outstanding

5.6   Replies to enquiries given by the Vendor or the Vendors' Solicitors to
      enquiries raised by the Purchaser or the Purchasers' Solicitors in respect
      of the GEAC UK Subsidiary Properties are true , accurate and complete in
      all material respects.

5.7   Neither the GEAC UK Subsidiary nor GEAC UK has at any time assigned or
      otherwise disposed of any freehold or leasehold property in respect of
      which the GEAC UK Subsidiary or GEAC UK has any continuing liability
      either as original contracting party or by virtue of any direct covenant
      or under an authorised guarantee agreement given on a sale or assignment
      to or from GEAC UK or the GEAC UK Subsidiary or as a surety for the
      obligations or any other person in relation to such property and no claim
      has been made against GEAC UK or the GEAC UK Subsidiary in respect of any
      leasehold property formerly held by it or in respect of which it acted as
      a guarantor nor is any such claim anticipated.

5.8   No notices under the Landlord and Tenant (Covenants) Act 1995 have been
      served on GEAC UK.

6.    ASSETS

6.1   The Smartstream Assets (excluding the Smartstream Intellectual Property)
      are the absolute legal and/or beneficial property of the GEAC UK
      Subsidiary or GEAC UK free from any lease, hire or hire purchase
      agreement, agreement for payment on deferred terms, bill of sale or
      retention of title claim (save those arising by operation of law or in the
      ordinary course of business), mortgage, charge, lien or other encumbrance
      or Security Interest whatsoever. The Smartstream Assets (excluding the
      Smartstream Intellectual Property, the benefit of the Smartstream
      Contracts and the Smartstream Licences) are in the possession or under the
      control of the GEAC UK Subsidiary or GEAC UK and situate at the GEAC UK
      Bristol Property. There are no agreements or arrangements restricting the
      freedom of the GEAC UK Subsidiary and GEAC UK to sell the Smartstream
      Assets (excluding the Smartstream Intellectual Property, the benefit of
      the Smartstream Contracts and the

<PAGE>

      Smartstream Licences) or otherwise to use or dispose of the Smartstream
      Assets as it thinks fit.

6.2   No Smartstream Asset (excluding the Smartstream Intellectual Property, the
      benefit of the Smartstream Contracts and the Smartstream Licences) has
      been acquired on terms that property therein does not pass until full
      payment is made or on a sale or return basis.

6.3   Save in respect of the GEAC UK Reorganisation, no Smartstream Asset
      (excluding the Smartstream Intellectual Property, the benefit of the
      Smartstream Contracts and the Smartstream Licences) has been acquired
      other than in the ordinary and normal course of business and at the full
      market values of the assets concerned.

7.    INSURANCES

7.1   Particulars of all insurances maintained by the GEAC UK Group are
      disclosed by the Disclosure Letter ("THE GEAC UK INSURANCES").

7.2   So far as the Vendor is aware, adequate insurances in respect of the
      Smartstream Assets and the Smartstream Business have been maintained up to
      the Completion Date.

7.3   So far as the Vendor is aware (without having made any enquiry of
      insurers, underwriters or brokers) the GEAC UK Insurances are in full
      force and effect and all premiums falling due prior to the Completion Date
      have been paid in respect thereof.

7.4   So far as the Vendor is aware (without having made any enquiry of
      insurers, underwriters or brokers) there are no circumstances which would
      lead to any liability under the GEAC UK Insurances being avoided by the
      insurers or the premiums thereunder being increased.

7.5   There is no claim outstanding under the GEAC UK Insurances and so far as
      the Vendor is aware there are no circumstances likely to give rise to such
      a claim.

8.    CONDUCT OF BUSINESS

8.1   In connection with the Smartstream Business none of any Vendor Group
      Company, GEAC UK nor the GEAC UK Subsidiary has agreed to produce or
      deliver replacement products after the Completion Date or to take back any
      defective products or effect repairs to the same free of charge or
      otherwise not at arm's length rates or issue a credit note or write off or
      reduce indebtedness in respect thereof.

8.2   In connection with the Smartstream Business none of any Vendor Group
      Company, GEAC UK nor the GEAC UK Subsidiary has developed or sold any
      products or supplied any services work or materials which as at the date
      of this Agreement:

      (a)   suffers from a material defect; or

      (b)   does not comply in any material respect with any warranty or
            representation or condition made in respect of the same; or

      (c)   does not comply with all applicable regulations standards and
            requirements in a respect or to an extent which would have a
            material adverse effect on the Smartstream Business as hitherto
            carried on

<PAGE>

      and "material" shall mean for the purposes of this paragraph 8.2 and the
      next following paragraph 8.3 any defect or any non-compliance or in
      relation to the next following paragraph 8.3, any claim (as the case may
      be) which would give rise to a single claim for a breach of warranty of in
      excess of (pound)100,000.

8.3   In connection with the Smartstream Business there is no claim against and
      so far as the Vendor is aware there are no circumstances existing which
      are likely to lead to a material claim against either GEAC UK or the GEAC
      UK Subsidiary for:

      (a)   defective products or services; or

      (b)   for breach of any such warranty, representation, regulations,
            standards or requirements as are mentioned in paragraph 8.2 of Part
            C of schedule 7 below; or

      (c)   for delays in delivery or completion of contracts; or

      (d)   for deficiencies of design or performance; or

      (e)   otherwise relating to liability for products or services sold or
            supplied in connection with the Smartstream Business.

8.4   The GEAC UK Subsidiary has obtained all material licences, permissions and
      consents required for the carrying on of the Smartstream Business as
      carried on prior to the Completion Date and such licences, permissions and
      consents are in full force and effect and so far as the Vendors are aware,
      there are no circumstances which indicate that any of such licences,
      permissions or consents are likely to be revoked or not renewed in the
      ordinary course.

8.5   Neither the GEAC UK Subsidiary nor GEAC UK has a branch place of business
      or substantial assets outside the United Kingdom or any permanent
      establishment (as that expression is defined in any relevant Order in
      Council made pursuant to section 788 ICTA 1988) in any country outside the
      United Kingdom.

9.    DIRECTORS AND EMPLOYEES

9.1   All of the Smartstream Employees are employed by the GEAC UK Subsidiary
      and no person other than the Smartstream Employees is now employed or
      engaged as an independent contractor by the GEAC UK Subsidiary or is now
      employed in connection with the Smartstream Business.

9.2   Material particulars of the terms of employment of the Smartstream
      Employees are disclosed in the Disclosure Letter including all material
      terms and conditions of employment (including notice periods) of and all
      remuneration payable and other benefits provided to the Smartstream
      Employees or their dependants or to which they are entitled (whether now
      or in the future and whether legally enforceable or not) including
      (without limitation) details of all profit sharing, incentive, bonus,
      commission or other similar arrangements which relate to the Smartstream
      Employees.

9.3   So far as the Vendor is aware there is no outstanding commitment (whether
      legally binding or not) to increase the remuneration payable or other
      benefits provided to any of the Smartstream Employees and so far as the
      Vendor is aware (and excluding for this purpose Philip Jordan, Martin
      Brown and Michael Johns) no negotiations for any such increase are
      current.

<PAGE>

9.4   So far as the Vendor is aware none of the Smartstream Employees has given
      or received notice terminating his employment.

9.5   So far as the Vendor is aware no dispute is subsisting in connection with
      any Smartstream Employee or former employee in relation to the Smartstream
      Business and so far as the Vendor is aware there are no present
      circumstances which are likely to give rise to such a dispute.

9.6   So far as the Vendor is aware, each of each Vendor Group Company, GEAC UK
      and the GEAC UK Subsidiary has in relation to each of the Smartstream
      Employees complied with:

      (a)   all obligations imposed on it by all statutes regulations and
            binding codes of conduct applicable in relation to the Smartstream
            Employees or any trade union and has maintained current adequate and
            suitable records regarding the service and terms and conditions of
            employment of each of the Smartstream Employees as requested by law;

      (b)   all collective agreements recognition agreements and customs and
            practices for the time being dealing with such relations or the
            conditions of service of the Smartstream Employees;

      (c)   all relevant orders and awards made under any relevant statute
            regulation or binding code of conduct and practice affecting the
            conditions of service of the Smartstream Employees; and

      (d)   all recommendations made by the Advisory Conciliation and
            Arbitration Service and all awards and declarations made by the
            Central Arbitration Committee.

9.7   Within a period of one year preceding the date hereof, the GEAC UK
      Subsidiary has not:

      (a)   given notice of any redundancies to the Secretary of State or
            started consultations with any independent trade union or unions or
            employee representation under the provisions of Chapter II of Part
            IV of the Trade Union and Labour Relations (Consolidation) Act 1992
            nor has GEAC UK Subsidiary failed to comply with any such obligation
            under the said provisions; or

      (b)   save in relation to the GEAC UK Reorganisation been a party to any
            relevant transfer as defined in the Transfer of Undertakings
            (Protection of Employment) Regulations 1981 nor has the GEAC UK
            Subsidiary failed to comply with any duty to inform and consult any
            independent trade unions or employee representatives under those
            Regulations.

9.8   So far as the Vendor is aware no person is a shadow director of the GEAC
      UK Subsidiary within the meaning of section 741(2) CA 1985.

10.   BUSINESS NAME

10.1  The Smartstream Business is not carried on, and has not in the past three
      years been carried on, under any name other than the Smartstream Business
      Names.

<PAGE>

11.   PENSIONS

11.1  Other than the GEAC UK Scheme there are no agreements, arrangements,
      customs or practices (whether legally enforceable or not) in operation at
      the date hereof for the payment of or contribution towards any pensions,
      lump sums or other like benefits on retirement or on death or during
      periods of sickness or disablement for the benefit of any of Smartstream
      Employees or directors or former employees or former directors (together
      called for the purposes of this paragraph 11.1, Smartstream Pensions
      Employees) or for the benefit of dependants of any of those persons nor so
      far as the Vendor is aware has any proposal to establish any such
      agreement or arrangement been announced.

11.2  Full details of the GEAC UK Scheme has been given to Newco 1 in the form
      of:

      (a)   copies of all trust deed and rules governing or relating to the
            Smartstream Pension Employees;

      (b)   copies of all current booklets, announcements and other explanatory
            literature issued to the Smartstream Pensions Employees who are
            members of the GEAC UK Scheme;

      (c)   a list of Smartstream Pension Employees who are members of the GEAC
            UK Scheme at Completion.

11.3  All benefits (other than refunds of contributions) payable under the GEAC
      UK Scheme on the death of a member who is a Smartstream Pensions Employee
      or during periods of sickness or disability of such a member are fully
      insured under a policy effected with an insurance company of good repute
      and each such member has been covered for such insurance by such insurance
      company at its normal rates and on its normal terms for persons in good
      health and all insurance premiums payable have been paid.

11.4  There are no actions, suits or claims (other than routine claims for
      benefits) outstanding, pending or threatened against GEAC UK in respect of
      any act, event, omission or other matter arising out of or in connection
      with the GEAC UK Scheme, and all liabilities of GEAC UK and the GEAC UK
      Subsidiary in respect of any costs, fees and expenses in relation to the
      GEAC UK Scheme (whether or not already invoiced) will have been met by
      Completion.

11.5  In relation to the GEAC UK Scheme:

      (a)   the current rates of all contributions in respect of the Smartstream
            Pensions Employees have been disclosed and there are not at the date
            hereof any contributions thereto from or in respect of Smartstream
            Pensions Employees or other payments which have fallen due but are
            unpaid;

      (b)   the current rates of all contributions in respect of Smartstream
            Pensions Employees have been disclosed and are in accordance with
            the documents referred to in warranties 11.2 (a) and 11.2 (b) above
            and no promise has been made to any Smartstream Pension Employee of
            employer contributions in excess of the rates disclosed.

      (c)   employer and employee contributions in respect of the Smartstream
            Pensions Employees have been made promptly at the time that they
            were due;

<PAGE>

      (d)   the GEAC UK Scheme is a money purchase scheme (as defined in section
            181(1) Pension Schemes Act 1993) and the benefits payable under the
            GEAC UK Scheme whether immediate, prospective or contingent, are
            solely the benefits which can be provided by the funds available for
            each member under the GEAC UK Scheme.

11.6  The GEAC UK Scheme is either approved by the Commissioners of Inland
      Revenue as an exempt approved scheme for the purposes of Part XIV Chapter
      I ICTA 1988 or is capable of receiving such approval and so far as the
      Vendor is aware there are no circumstances which might give the Inland
      Revenue reason to withdraw or withhold such approval.

11.7  The GEAC UK Scheme is a contracted-out scheme for the purposes of the
      Pension Schemes Act 1993 and has been administered in accordance with the
      contracting-out requirements of Part III of the Act.

11.8  The GEAC UK Scheme does not distinguish between male and female members
      (except in relation to maternity) in the provision of benefits relating to
      periods of pensionable service after 17th May 1990 and no adverse
      alteration has been made to benefits already accrued at the date of
      announcing changes designed to equalise benefits.

11.9  The GEAC UK Scheme has not at any time excluded employees from eligibility
      for membership on the grounds of specified hours of work.

11.10 There are no circumstances which could result in any penalty under the
      Pensions Act 1995 becoming payable by GEAC UK.

11.11 GEAC UK is the principal employer and the only participating employer in
      the GEAC UK Scheme.

12.   COMMERCIAL CONTRACTS AND JOINT VENTURES

12.1  There are annexed to the Disclosure Letter true complete and up-to-date
      copies of all documentation relevant to each of the material Smartstream
      Supply Contracts, material Smartstream Finance Agreements, material
      Smartstream Licences and there has been no amendment or addition thereto,
      whether express or implied, not contained in such documentation.

12.2  No Smartstream Customer Contract is on terms materially different from the
      templates annexed to the Disclosure Letter.

12.3  So far as the Vendor is aware none of the Smartstream Contracts:

      (a)   is likely to result in a loss in excess of (pound)100,000 to the
            GEAC UK Subsidiary upon completion of performance or fulfilment of
            the GEAC UK Subsidiary's obligations under the relevant Smartstream
            Contract; or

      (b)   is dependant upon the guarantee or security of any person; or

      (c)   involved the giving of any gift, bribe or inducement in relation
            thereto; or

      (d)   is outside the ordinary course of the Smartstream Business

12.4  None of GEAC Canada, any Vendor Group Company, GEAC UK, the GEAC UK
      Subsidiary nor so far as the Vendor is aware any third party is in breach
      of any of its

<PAGE>

      obligations under the Smartstream Contracts and so far as the Vendor is
      aware there are no circumstances likely to give rise to any such breach.

12.5  So far as the Vendor is aware no event or omission has occurred which
      would entitle GEAC Canada, any Vendor Group Company, GEAC UK or the GEAC
      UK Subsidiary or any third party to terminate prematurely any of the
      Smartstream Contracts.

12.6  So far as the Vendor is aware no offer tender or the like relating to the
      Smartstream Business which is capable of being converted into an
      obligation of GEAC Canada, any Vendor Group Company, GEAC UK or the GEAC
      UK Subsidiary by an acceptance or other act of some other person is
      outstanding.

12.7  GEAC UK has no outstanding obligation in relation to, and is not currently
      a party to any distribution, agency, joint venture, consortium or
      partnership arrangement or a member of any unincorporated association.

12.8  No power of attorney or other authority, express, implied or ostensible
      (other than in respect of a current director) is still outstanding or
      effective for any person to enter into any contract or commitment to do
      anything in connection with the GEAC UK Subsidiary or the Smartstream
      Business other than the authority of Smartstream Employees to enter into
      routine trading contracts in the normal course of their duties.

13.   UNISSUED CAPITAL

13.1  There are no agreements or instruments in force which require or confer
      the right (conditionally or unconditionally) to require the issue of any
      share or loan capital of GEAC UK Subsidiary now or at any time in the
      future nor are there any agreements restrictions or obligations entered
      into by or binding on the GEAC UK Subsidiary as to its unissued share or
      loan capital.

14.   INTELLECTUAL PROPERTY

14.1  Neither the GEAC UK Subsidiary nor GEAC UK makes use of any processes nor
      is engaged in any activities which involve the misuse of any confidential
      information belonging to any third party.

14.2  Details of all arrangements under which Smartstream Confidential
      Information belonging to any third party is made available to GEAC UK
      Group are attached to the Disclosure Letter. So far as the Vendor is
      aware, all such agreements and arrangements are in full force and effect
      and the GEAC UK Group is not in breach of any such agreement or
      arrangement and is not aware of the existence of any circumstances under
      which its right to use such the Smartstream Confidential Information may
      be terminated.

14.3  The Vendor is not aware of any actual, alleged or threatened misuse by any
      person of any of the Smartstream Confidential Information. The Smartstream
      Confidential Information has not been disclosed to any person except where
      such disclosure was properly made in the normal course of business. There
      is no current or so far as the Vendor is aware threatened breach of any
      such agreement by any of the other contracting parties thereto.

14.4  The GEAC UK Subsidiary is either:

<PAGE>

      (a)   the sole unencumbered legal and beneficial owner, capable of
            transferring with full title guarantee, and, where registered, the
            sole registered proprietor; or

      (b)   a validly licensed licencee;

      of all the Smartstream Intellectual Property.

14.5  Without prejudice to paragraph 14.4 of Part C of schedule 7 above, the
      GEAC UK Subsidiary is the sole unencumbered legal and beneficial owner
      capable of transferring with full title guarantee all the Intellectual
      Property Rights in the GEAC Restricted Products.

14.6  Full and accurate details of all licences permissions consents or waivers
      of any of the Smartstream Intellectual Property (except in respect of
      third party proprietary software contained therein) are disclosed by the
      Disclosure Letter.

14.7  No item referred to in paragraph 14.6 of Part C of schedule 7 above is
      currently threatened with termination by the other party to it or is
      likely to become subject to termination by virtue of this transaction or
      the GEAC UK Reorganisation and no party thereto is in breach of the terms
      of any of such items as at Completion.

14.8  The GEAC UK Subsidiary does not require any Intellectual Property Rights
      other than the Smartstream Intellectual Property in order to use all
      processes employed by it in the Smartstream Business nor to develop, use
      and sell the products and services which result from those processes nor
      otherwise to carry on the Smartstream Business.

14.9  None of the Smartstream Intellectual Property has been wrongfully or
      unlawfully acquired by the GEAC UK Subsidiary. So far as the Vendor is
      aware complete and accurate copies of all material documentation by which
      the GEAC UK Subsidiary acquired from any third party ownership of such of
      the Smartstream Intellectual Property as is registered are attached to the
      Disclosure Letter and no claim under any warranty contained in such
      documentation has been made or intimated nor are there any grounds on
      which any such claim could be made.

14.10 All contracts or arrangements for the disclosure of the Smartstream
      Intellectual Property to third parties are substantially on the terms of
      GEAC Group standard forms of contract appended to the Disclosure Letter.

14.11 The material particulars as to registration of (and applications to
      register) the registered Smartstream Intellectual Property, including
      priority and renewal dates, are disclosed in the Disclosure Letter.

14.12 Neither the validity or subsistence of the Smartstream Intellectual
      Property, nor the GEAC UK Subsidiary's right, title and interest in the
      Smartstream Intellectual Property, is the subject of any current, pending
      or known threatened challenge, claim or proceedings, including for
      opposition, cancellation, revocation or rectification.

14.13 So far as the Vendor is aware, all renewal fees regarding the Smartstream
      Intellectual Property due on or before Completion have been paid in full.

14.14 All Intellectual Property Rights in the Smartstream Intellectual Property
      were fully and effectively transferred to GEAC UK by the inventors and
      developers of such rights including without limitation employees.

<PAGE>

14.15 None of the Smartstream Intellectual Property is currently being infringed
      or used without authorisation by any third party nor has such infringement
      or unauthorised use been threatened.

14.16 The carrying on of the Smartstream Business does not infringe any
      Intellectual Property Rights belonging to any third party.

14.17 No claim under Sections 39 to 43 of the Patent Act 1977 or its equivalent
      in any applicable territory has been made and no assertion of any rights
      under Chapter IV of the Copyright Design and Patent Act 1988 or its
      equivalent in any applicable territory has been made in respect of any of
      the Intellectual Property.

15.   LITIGATION, OFFENCES AND PROCESSES

15.1  The GEAC UK Subsidiary is not party to any litigation (whether criminal or
      civil), arbitration, reference of any dispute or disagreement to an expert
      or any alternative dispute resolution process pursuant to any binding
      obligation on the GEAC UK Subsidiary and so far as the Vendor is aware
      there are no facts or circumstances likely to give rise to such
      litigation, arbitration, reference or any alternative dispute resolution
      process.

15.2  No undischarged injunction has been granted against the GEAC UK Subsidiary
      and the GEAC UK Subsidiary has given no formal undertaking which remains
      outstanding or unfulfilled to any Court or to any third party arising out
      of any legal proceedings.

15.3  No order has been made or petition served or resolution passed for the
      winding up of the GEAC UK Subsidiary nor, so far as the Vendor is aware,
      has any person threatened to present such a petition or convened or
      threatened to convene a meeting of the GEAC UK Subsidiary to consider a
      resolution to wind up the GEAC UK Subsidiary; no distress or execution has
      been levied on any asset of the GEAC UK Subsidiary nor so far as the
      Vendor is aware, has any person threatened any such distress or execution;
      so far as the Vendor is aware no person has appointed or threatened to
      appoint a receiver of the GEAC UK's Subsidiary business or assets or any
      part thereof; so far as the Vendor is aware there is no unfulfilled or
      unsatisfied judgement or court order outstanding against the GEAC UK
      Subsidiary.

15.4  So far as the Vendor is aware there has been no material violation by the
      GEAC UK Subsidiary and/or any of its officers of any Official Requirement
      of the United Kingdom, the European Communities or any local laws of any
      other jurisdiction or any ruling penalty or sanction.

16.   GRANTS

16.1  Neither the GEAC UK Subsidiary nor GEAC UK have done or omitted to do or
      agreed to do or to omit to do anything as a result of which all or any
      part of any investment or other grant or employment subsidy or similar
      payment made or due to be made to the GEAC UK Subsidiary is or may be
      liable to be repaid, forfeited or withheld in whole or in part.

17.   SPECIAL CONTRACTS AND ARRANGEMENTS

17.1  So far as the Vendor is aware particulars of all agreements, practices and
      arrangements to which GEAC UK or GEAC UK Subsidiary is a party which are
      registerable with the Director-General of Fair Trading in the United
      Kingdom or

<PAGE>

      with the Directorate-General for Competition at the Commission of the
      European Communities (as the case may be) have been correctly registered.

17.2  The GEAC UK Subsidiary has not at any time:

      (a)   repaid, redeemed or purchased or agreed to repay, redeem or purchase
            any shares of any class of its share capital or otherwise reduced or
            agreed to reduce its issued share capital or any class thereof; or

      (b)   directly or indirectly provided any financial assistance (as defined
            for the purpose of section 151 CA 1985) for the purpose of the
            acquisition of shares of the GEAC UK Subsidiary or any holding
            company of the GEAC UK Subsidiary or for the purpose of reducing or
            discharging any liability incurred in any such acquisition whether
            pursuant to section 155 CA 1985 or otherwise; or

      (c)   capitalised or agreed to capitalise in the form of shares,
            debentures or other securities or in paying up any amounts unpaid on
            any shares debentures or other securities any profits or reserves of
            any description or passed or agreed to pass any resolutions to do
            so.

18.   TRANSACTIONS WITH SHAREHOLDERS OR DIRECTORS

18.1  No transactions, contracts or legally binding arrangements have been
      entered into to which the GEAC UK Subsidiary is a party:

      (a)   in which a shareholder in or director of the GEAC UK Subsidiary or
            any person connected with a shareholder in or director of the GEAC
            UK Subsidiary has been interested whether directly or indirectly; or

      (b)   which fall within the definition of "transaction with a related
            party" contained in Chapter 11 of the Listing Rules published by The
            London Stock Exchange.

18.2  So far as the Vendor is aware (save for expenses and claims arising in the
      ordinary course of business) no monies are owed by the GEAC UK Subsidiary
      to any director of the GEAC UK Subsidiary or GEAC UK or to any person
      connected with any such director or to any company or partnership in which
      any such director are directly or indirectly interested other than as
      holders of listed securities.

18.3  So far as the Vendor is aware the GEAC UK Subsidiary has no debts owed to
      it by its directors any Vendor Group Company (or by a person connected
      with any such director or any such company) or by any company in which the
      directors of any such company are directly or indirectly interested (other
      than as holders of listed securities) nor does any such company.

18.4  No Vendor Group Company has any interest in any partnership or company
      (whether limited or unlimited and whether by way of share holding,
      directorship or employment) other than any Target which is in competition
      with the GEAC UK Subsidiary.

19.   ADMINISTRATION

19.1  There are attached to the Disclosure Letter true and accurate copies of
      the Memorandum and Articles of Association of the GEAC UK Subsidiary
      incorporating all amendments made up to and including the date hereof.

<PAGE>

19.2  The register of members of the GEAC UK Subsidiary contains a true and
      accurate record of the members and all former members of the GEAC UK
      Subsidiary and their holdings of shares in the capital of the GEAC UK
      Subsidiary.

19.3  All mortgages charges and debentures by or in favour of the GEAC UK
      Subsidiary to which section 395 CA 1985 applies have been registered in
      accordance with the provisions of that section.

19.4  So far as the Vendor is aware no direction has been given to the GEAC UK
      Subsidiary under section 28 CA 1985.

19.5  All returns, particulars, resolutions and other documents required to be
      filed with or delivered to the Registrar of Companies and so far as the
      Vendor is aware the Department of Trade and Industry by the GEAC UK
      Subsidiary have been correctly and properly prepared and so filed or
      delivered.

19.6  So far as the Vendor is aware all the books of account, ledgers and
      financial and other records of whatsoever kind which relate to the GEAC UK
      Subsidiary (including without limitation those which relate to the
      Smartstream Assets and the Smartstream Business):

      (a)   have been kept or stored in accordance with all relevant
            requirements of the Data Protection Act 1984 and 1998;

      (b)   have at all times been properly and in all material respects
            accurately made up kept and completed; and

      (c)   record all material matters which would normally be required to be
            entered therein; and

      (d)   record all matters required to be entered therein by CA1985; and

      (e)   do not contain or reflect any material inaccuracies or
            discrepancies; and

      (f)   in the case of those solely relating to the Smartstream Assets and
            the Smartstream Business, accurately reflected and represented as at
            the Smartstream Business Transfer Date and gave and reflected a fair
            view of the assets and liabilities (including contingent
            liabilities); and

      (g)   include all documents of title relating to the Smartstream Assets
            and all such documents, together with the executed copies of all the
            Smartstream Contracts which have been reduced to writing; and

      (h)   are held or stored in means which are under the exclusive ownership
            and control of the GEAC UK Subsidiary or GEAC UK or are available to
            the GEAC UK Subsidiary.

20.   COMPETITION MATTERS

20.1  So far as the Vendor is aware, neither the GEAC UK Subsidiary nor GEAC UK
      is or has been party to, or concerned in any agreement, arrangement,
      understanding or concerted practice, or any other conduct or practice
      (unilateral or otherwise) which:

      (a)   constitutes a breach of any relevant undertaking, order, assurance
            or other measure taken under the Fair Trading Act 1973, the RTPA
            1976, or the Competition Act 1980; or

<PAGE>

      (b)   contravenes Chapter I of the Competition Act 1998 or constitutes an
            abuse of a dominant position contrary to Chapter II of that Act; or

      (c)   infringes Article 81 or 82 of the Treaty of Rome; or

      (d)   infringes any competition, anti-trust or equivalent legislation of
            any other jurisdiction in which the business of GEAC UK or the GEAC
            UK Subsidiary is carried on; or

      (e)   constitutes a breach of any term or condition of any licence,
            authorisation, appointment, code or similar instrument applicable to
            the GEAC UK Subsidiary and its' business;

20.2  Neither the GEAC UK Subsidiary nor GEAC UK is and has been subject to any
      investigation, request for information, notice or other communication
      (whether formal or informal) by any court, governmental or regulatory
      authority pursuant to any of the laws referred to in paragraph 20.1;

21.   INFORMATION TECHNOLOGY SYSTEMS

21.1  So far as the Vendor is aware accurate copies of all the agreements
      required to use, support, maintain and/or develop all components of the
      Smartstream Computer Systems (including all licences, development,
      agreements, software maintenance and support agreements, hardware
      maintenance agreements, source code escrow agreements and disaster
      recovery agreements) are attached to the Disclosure Letter.

21.2  So far as the Vendor is aware, none of any Vendor Group Company, GEAC UK
      nor the GEAC UK Subsidiary has breached any of its obligations under any
      of the agreements referred to in paragraph 21.1 of Part C of schedule 7
      above and those agreements all remain in full force and effect as at
      Completion and no notice has been served by any party to terminate any of
      those agreements.

21.3  So far as the Vendor is aware, save as stated in the agreements referred
      to in paragraph 21.1 of Part C of schedule 7 above, the GEAC UK Subsidiary
      is not restricted in any way in using the Smartstream Computer Systems
      (whether by way of a technical device or otherwise).

21.4  The GEAC UK Subsidiary has exclusive control of the operation of the
      Smartstream Computer Systems and of the storage, processing and retrieval
      of all data stored on the Smartstream Computer Systems and any
      Intellectual Property Rights in such data are owned solely by the GEAC UK
      Subsidiary.

21.5  All Intellectual Property Rights in the Smartstream Developed Software are
      owned by the GEAC UK Subsidiary and the GEAC UK Subsidiary has in its
      possession an up-to-date, useable and complete copy of the source code for
      all Smartstream Developed Software together with copies of all
      programmer's commentaries and technical documentation required to allow
      the continuing maintenance and development of that software in connection
      with the Smartstream Business.

21.6  The Smartstream Developed Software performs the functions for what it was
      intended in connection with products sold and services supplied in
      connection with the Smartstream Business.

21.7  The Smartstream Computer Systems have operated without material errors and
      without downtime exceeding ten (10) hours in aggregate or for any
      individual period of more that one (1) hour for the two (2) years
      immediately prior to Completion.

<PAGE>

21.8  The Smartstream Computer Systems have been satisfactorily maintained in
      accordance with the maintenance agreements attached to the Disclosure
      Letter or otherwise in accordance with good business practice.

21.9  The GEAC UK Subsidiary is using the most recent version of all Smartstream
      Third Party Systems Software.

21.10 If any person providing maintenance or support services for the
      Smartstream Third Party Systems Software ceases or is unable to do so by
      reason of breach or insolvency on the part of such provider the GEAC UK
      Subsidiary has all necessary rights to obtain free of charge the source
      code to the relevant software and all related technical and other
      information required to maintain and support that software together with
      the right to use, or to allow a third party to use, the same for the
      purpose of carrying out such maintenance and support.

21.11 So far as the Vendor is aware, the GEAC UK Subsidiary has adequate copies
      of all user manuals, technical documentation and any other documentation
      required to operate, maintain and support the Smartstream Computer Systems
      and is fully licensed to use the same for those purposes.

21.12 The Smartstream Computer Systems have adequate functionality for the
      current needs of the Smartstream Business as carried on prior to the
      Completion Date and, in particular, are sufficient to create the
      Smartstream Developed Software and GEAC UK Restricted Products and allow
      the provision of the GEAC UK Restricted Services to the standards required
      by the contracts under which the GEAC UK Restricted Services are supplied.

21.13 Disaster recovery plans are in effect to ensure that any part of the
      functionality of the Smartstream Computer Systems which is critical to the
      GEAC UK Subsidiary can be replaced or substituted within twenty-four (24)
      hours in the event of damage to, or destruction of, some or all of the
      Smartstream Computer Systems and those plans have been successfully tested
      in the twelve (12) months prior to Completion.

21.14 There are in place procedures to ensure internal and external security of
      the Smartstream Computer Systems, including procedures for taking and
      storing on-site and off-site back-up copies of computer programs and data,
      for preventing introduction of viruses into the Smartstream Computer
      Systems and for the protection of security of data stored on the
      Smartstream Computer Systems.

21.15 As at the Completion Date, there are sufficiently technical competent and
      trained employees employed by the GEAC UK Subsidiary to ensure proper
      handling, operation, monitoring and use of the Smartstream Computer
      Systems.

21.16 So far as the Vendor is aware all of the Smartstream Developed Software,
      the Smartstream Third Party Systems Software, the GEAC UK Restricted
      Products, the GEAC UK Restricted Services and the Smartstream Computer
      Systems are, and have been fully tested to be EMU Compliant and Date
      Compliant.

21.17 So far as the Vendor is aware, neither the performance, accuracy nor
      functionality of the Smartstream Third Party Systems Software, the GEAC UK
      Restricted Products, the GEAC UK Restricted Services and the Smartstream
      Computer Systems has been, is or will be adversely affected by any date
      values which may reasonably be imputed into and/or used by the Smartstream
      Computer Systems.

21.18 The Smartstream Computer Systems have not been used to hold or process
      data in any manner that contravenes the Data Protection Acts 1984 or 1998.

<PAGE>

22.   EFFECT OF THIS AGREEMENT

22.1  So far as the Vendor is aware, compliance with the terms of this Agreement
      does not and will not:

      (a)   conflict with or result in a breach of or constitute a default under
            any of the terms, conditions or provisions of any material agreement
            or material instrument to which GEAC UK Subsidiary is a party or any
            provision of the Memorandum or Articles of Association of the GEAC
            UK Subsidiary or any material lease, contract, order, judgement,
            award, injunction or regulation or Security Interest by which or to
            which any material asset of the GEAC UK Subsidiary is bound or
            subject; or

      (b)   relieve any person from any obligation to the GEAC UK
            Subsidiary(whether contractual or otherwise) or enable any person to
            determine any such obligation or any right or benefit enjoyed by the
            GEAC UK Subsidiary or to exercise any right whether under an
            agreement with or otherwise in respect of the GEAC UK Subsidiary; or

      (c)   result in the creation, imposition, crystallisation or enforcement
            of any encumbrance whatsoever on any of the assets of the GEAC UK
            Subsidiary; or

      (d)   result in any present or future indebtedness of the GEAC UK
            Subsidiary becoming due or capable of being declared due and payable
            prior to its stated maturity

      and "material" shall mean for the purposes of this paragraph 22.1, such
      matter which would give rise to a single claim for a breach of paragraph
      22.1 of in excess of (pound)100,000

<PAGE>

                          PART D - GEAC GMBH WARRANTIES

1        GEAC GmbH

2        Management Data Financial Information

3        Subsidiaries

4        Real Property

5        Insurances

6        Conduct of Business

7        Competition Matters

8        Pensions

9        Effect of this Agreement

<PAGE>

                          PART D - GEAC GmbH WARRANTIES

1     GEAC GmbH

1.1   All the GEAC GmbH Sale Shares are fully paid or are properly credited as
fully paid and the Vendor is the sole legal and beneficial owner of the entire
issued share capital of GEAC GmbH as set out against the Vendor's name in column
(d) of Part B of schedule 1 free from all Security Interests, claims or other
third party rights (including rights of the pre-emption) of any nature
whatsoever.

2     MANAGEMENT DATA FINANCIAL INFORMATION

2.1   The Management Data Financial Information has been prepared consistently
for the past three years and in all material respects presents fairly the
results of the operations of the Management Data Business in respect of the
relevant periods of time.

2.2   Other than liabilities and commitments which are not exceptional in nature
and have been incurred in the ordinary course of its business, GEAC GmbH has no
liabilities or commitments actual, contingent (including contingent liabilities
for taxation) or disputed.

2.3   GEAC GmbH was incorporated on 6 April 2000 for the purpose of acquiring
assets and assuming liability relating to the Management Data Business and has
carried out no activities other than acquiring and carrying on and restructuring
such business.

2.4   GEAC GmbH has not agreed to create or permitted to arise any mortgage or
charge or other Security Interest.

2.5   GEAC GmbH is not owed any moneys other than in the ordinary course of
business.

2.6   GEAC GmbH has not factored or discounted any of its debts (including the
Management Data Debtors).

2.7   GEAC GmbH has not given any Guarantee or entered into any contract of
suretyship or agreement for the postponement of debt (or security therefor) or
for lien or set-off.

2.8   GEAC GmbH is not in default under the terms of any borrowing made by it.

3     SUBSIDIARIES

3.1   GEAC GmbH:

      (a)   has never had any subsidiary;

      (b)   has not since its incorporation been a subsidiary of any company
            other than the Vendor; and

      (c)   holds no shares in the capital of any company.

<PAGE>

4     REAL PROPERTY

4.1   GEAC GmbH Properties comprise all the properties occupied by Management
Data for the purposes of the Management Data Business immediately prior to the
Management Data Business Transfer Date.

4.2   Neither GEAC GmbH nor the Management Data Subsidiaries use or occupy or
have any interest in any land and/or buildings for the purposes of its business
other than GEAC GmbH Properties.

4.3   The description of GEAC GmbH Properties and the particulars of the estate
owner contained in schedule 3 are correct in all material respects.

4.4   In this paragraph the expression "THE PRESENT USE" means in respect of
each of GEAC GmbH Properties the present use as offices. Save as specified in
the Disclosure Letter and so far as the Vendor is aware:

      (a)   all covenants, restrictions and stipulations which affect the GEAC
            GmbH Properties (including covenants contained in Leases under which
            GEAC GmbH Properties are held) have been complied with in all
            material respects;

      (b)   GEAC GmbH is in exclusive and undisputed occupation of the whole of
            each of GEAC GmbH Properties in all material respects;

      (c)   save as contemplated by this Agreement, GEAC GmbH Properties are not
            subject to (or to any agreement to create) any lease, tenancy,
            licence to occupy, mortgage or charge, option or right of
            pre-emption;

      (d)   no party claims the benefit of any right, easement, reservation or
            other privilege or encumbrance in or over GEAC GmbH Properties
            adverse to the title or interest of GEAC GmbH or the present use in
            all material respects;

      (e)   the present use of the GEAC GmbH Properties comply in all material
            respects with all relevant planning legislation, by-laws and
            regulations.

5     INSURANCES

5.1   Particulars of all insurances maintained by GEAC GmbH are disclosed by the
Disclosure Letter ("THE GEAC GmbH INSURANCES")

5.2   So far as the Vendor is aware, adequate insurances in respect of the
Management Data Assets and the Management Data Business have been maintained
from the Management Data Business Transfer Date to the Completion Date.

5.3   So far as the Vendor is aware (without having made any enquiry of
insurers, underwriters or brokers), all such insurances are in full force and
effect and all premiums falling due prior to the Completion Date have been paid
in respect thereof.
<PAGE>

5.4   So far as the Vendor is aware (without having made any enquiry of
insurers, underwriters or brokers), there are no circumstances which would lead
to any liability under such insurances being avoided by the insurers or the
premiums thereunder being increased.

5.5   There is no claim outstanding under any such insurances and so far as the
Vendor is aware there are no circumstances likely to give rise to such a claim.

6     CONDUCT OF BUSINESS

6.1   So far as the Vendor is aware after Completion whether by reason of an
existing agreement or arrangement or as a result of the acquisition of the GEAC
GmbH Sale Shares by Newco 2 or otherwise:

      (a)   no supplier of GEAC GmbH will cease supplying GEAC GmbH or
            substantially to reduce its supplies to GEAC GmbH;

      (b)   no customer of GEAC GmbH will cease to deal with GEAC GmbH or
            substantially to reduce its existing level of business with GEAC
            GmbH;

      (c)   no officer or senior employee of GEAC GmbH will leave his office or
            employment.

7     COMPETITION MATTERS

7.1   So far as the Vendor is aware, GEAC GmbH is or has not been party to, or
concerned in any agreement, arrangement, understanding or connected practice, or
any other conduct or practice (unilateral or otherwise) which:

      (a)   infringes Article 81 or 82 of the Treaty of Rome; or

      (b)   infringes any competition, anti-trust or equivalent legislation of
            any other jurisdiction in which the business of GEAC GmbH is carried
            on;

      (c)   constitutes a breach of any term or condition of any licence,
            authorisation, appointment, code or similar instrument applicable to
            GEAC GmbH and its business;

7.2   GEAC GmbH is not and has not been subject to any investigation, request
for information, notice or other communication (whether formal or informal) by
any court, governmental or regulatory authority pursuant to any of the laws
referred to in paragraph 7.1 of Part D of schedule 7 above provided always that
the Warranties in this paragraph 7 shall not relate to any matter arising out of
or in connection with the Management Data Agreement.

8     PENSIONS

8.1   There are no agreements, arrangements, customs or practices (whether
legally enforceable or not) in operation at the date hereof for the payment of
or contribution towards any pensions, lump sums or other like benefits on
retirement or on death or during periods of

<PAGE>

sickness or disablement for the benefit of any of GEAC GmbH employees or
directors or former employees or former directors or for the benefit of
dependants of any of those persons nor has any proposal to establish any such
agreement been announced.

9     EFFECT OF THIS AGREEMENT

9.1   So far as the Vendor is aware, compliance with the terms of this Agreement
does not and will not conflict with or result in a breach of or constitute a
default under any of the terms, conditions or provisions of any material
agreement or material instrument to which GEAC GmbH is a party or any provision
of the Memorandum or Articles of Association of GEAC GmbH or any material lease,
contract, order, judgement, award, injunction, regulation or other Security
Interest to which any asset of GEAC GmbH is bound or subject and "material" for
the purposes of this paragraph 9.1 shall mean such matter which would give rise
to a single claim for a breach of paragraph 9.1 in excess of (pound)100,000.

<PAGE>

                PART E - MANAGEMENT DATA SUBSIDIARIES WARRANTIES

1        The Vendor

2        Management Data Subsidiary Accounts

3        Debtors and Creditors

4        Management Data Subsidiary Subsidiaries

5        Real Property

6        Insurances

7        Conduct of Business

8        Pensions

9        Effect of this Agreement

<PAGE>

                PART E - MANAGEMENT DATA SUBSIDIARIES WARRANTIES

1     THE VENDOR

1.1   All the Management Data Subsidiary Sale Shares are fully paid or are
properly credited as fully paid and the Vendor is the sole legal and beneficial
owner of the entire issued share capital of the Management Data Subsidiary set
against the Vendor's name in column (d) of Part 2 of schedule 1 free from all
Security Interests, claims or other third party rights (including rights of the
pre-emption) of any nature whatsoever.

2     MANAGEMENT DATA SUBSIDIARY ACCOUNTS

2.1   So far as the Vendor is aware, the Management Data Subsidiary Accounts
comply with all relevant legislation and have been prepared in accordance with
generally accepted accounting conventions, policies, principles and practices
consistently applied.

2.2   Other than liabilities and commitments which are not exceptional in nature
and have been incurred in the ordinary course of its business, the Management
Data Subsidiary has no liabilities or commitments actual, contingent (including
contingent liabilities for taxation) or disputed.

3     DEBTORS AND CREDITORS

3.1   The Management Data Subsidiary has not agreed to create or permitted to
arise any mortgage or charge or other Security Interest.

3.2   The Management Data Subsidiary is not owed any moneys other than in the
ordinary course of business.

3.3   The Management Data Subsidiary has not factored or discounted any of its
debts.

3.4   The Management Data Subsidiary has not given any Guarantee or entered into
any contract of suretyship or agreement for the postponement of debt (or
security therefor) or for lien or set-off.

3.5   The Management Data Subsidiary is not in default under the terms of any
borrowing made by it.

4     MANAGEMENT DATA SUBSIDIARY SUBSIDIARIES

4.1   The Management Data Subsidiary:

      (a)   has never had any subsidiary;

      (b)   has not since its incorporation been a subsidiary of any other
            company other than Management Data GmbH or the Vendor; and

      (c)   holds no shares in the capital of any other company.

<PAGE>

5     REAL PROPERTY

5.1   The Management Data Subsidiary does not use or occupy or have any interest
in any land and/or buildings for the purposes of its business other than the
Management Data Subsidiary Properties.

5.2   The description of the Management Data Subsidiary Properties and the
particulars of the estate owner contained in schedule 3 are correct in all
material respects.

5.3   In this paragraph the expression "THE PRESENT USE" means in respect of
each of the Management Data Subsidiary Properties the present use specified in
schedule 3 as offices. Save as specified in the Disclosure Letter and so far as
the Vendor is aware:

      (a)   all covenants, restrictions and stipulations which affect the
            Management Data Subsidiary Properties (including covenants contained
            in leases under which the Management Data Subsidiary Properties are
            held) have been complied with in all material respects;

      (b)   the Management Data Subsidiary is in exclusive and undisputed
            occupation of the whole of each of the Management Data Subsidiary
            Properties in all material respects;

      (c)   save as contemplated by this Agreement, the Management Data
            Subsidiary Properties are not subject to (or to any agreement to
            create) any lease, tenancy, licence to occupy, mortgage or charge,
            option or right of pre-emption;

      (d)   no party claims the benefit of any right, easement, reservation or
            other privilege or encumbrance in or over the Management Data
            Subsidiary Properties adverse to the title or interest of Management
            Data Subsidiary or the present use in all material respects;

      (e)   the present use of the Management Data Subsidiary Properties comply
            in all material respects with all relevant planning legislation,
            by-laws and regulations.

5.4   The Management Data (UK) Property comprises all the properties occupied
for the purposes of the business of Management Data (UK) Limited immediately
prior to the Management Data Business Transfer Date.

5.5   Management Data (UK) Limited do not use or occupy or have any interest in
any land and/or buildings for the purposes of its business other than the
Management Data (UK) Property.

5.6   The description of the Management Data (UK) Property and the particulars
of the estate owner and present use contained in Part C of schedule 3 are
correct.

5.7   In this paragraph the expression "THE PRESENT USE" means in respect of the
Management Data (UK) Property the present use specified in Part C of schedule 3.
Save as specified in the Disclosure Letter:

<PAGE>

      (a)   Management Data (UK) Limited has legal title to the Management Data
            (UK) Property;

      (b)   all covenants, restrictions and stipulations which do affect the
            Management Data (UK) Property (including covenants contained in
            Leases under which the Management Data (UK) Property is held) have
            been complied with in all material respects and no outstanding
            notice of breach has been received;

      (c)   Management Data (UK) Limited is in exclusive and undisputed
            occupation of the whole of each of the Management Data (UK)
            Property;

      (d)   save as contemplated by this Agreement the Management Data (UK)
            Property are not subject to (or to any agreement to create) any
            lease, tenancy, licence to occupy, mortgage or charge, option or
            right of pre-emption;

      (e)   so far as the Vendor is aware, no party claims the benefit of any
            right, easement, reservation or other privilege or encumbrance in or
            over the Management Data (UK) Property adverse to the title or
            interest of Management Data (UK) Limited or the present use;

      (f)   so far as the Vendor is aware the Management Data (UK) Property and
            all buildings thereon and the present use thereof comply in all
            material respects with all relevant Town and Country Planning
            legislation, by-laws and regulations and no consent or approvals
            obtained thereunder are temporary or personal (other than to
            Management Data (UK) Limited) or subject to any conditions which
            have not been fully complied with;

      (g)   so far as the Vendor is aware the Management Data (UK) Property
            complies in all material respects with the Offices Shops and Railway
            Premises Act 1963, the Fire Precautions Act 1971, the Health and
            Safety at Work etc. Act 1974 and all other relevant statutory
            requirements and all orders consents or permissions given
            thereunder;

      (h)   the Management Data (UK) Property complies in all material respects
            with current fire regulations;

      (i)   all title deeds and documents required to prove the title Management
            Data (UK) Limited to the Management Data (UK) Property are in the
            possession of or under the control of Management Data (UK) Limited
            and have been delivered to the Purchasers' Solicitors.

5.8   Management Data (UK) Limited has not received any adverse surveyors
engineers or other professional report in respect of any of the Management Data
(UK) Property during the two years prior to the date of this agreement in
respect of which any recommendations remain outstanding.

<PAGE>

5.9   Replies to enquiries given by the Vendor or the Vendors' Solicitors to
enquiries raised by the Purchaser or the Purchasers' Solicitors in respect of
the Management Data (UK) Property are true, accurate and complete in all
material respects.

5.10  Management Data (UK) Limited has not at any time assigned or otherwise
disposed of any freehold or leasehold property in respect of which Management
Data (UK) Limited has any continuing liability either as original contracting
party or by virtue of any direct covenant or under an authorised guarantee
agreement given on a sale or assignment to or from Management Data (UK) Limited
or as a surety for the obligations or any other person in relation to such
property and no claim has been made against Management Data (UK) Limited in
respect of any leasehold property formerly held by it or in respect of which it
acted as a guarantor nor is any such claim anticipated.

5.11  No notices under the Landlord and Tenant (Covenants) Act 1995 have been
served on Management Data (UK) Limited.

6     INSURANCES

6.1   Particulars of all insurances maintained by the Management Data Subsidiary
are disclosed by the Disclosure Letter ("THE MANAGEMENT DATA SUBSIDIARIES
INSURANCES").

6.2   So far as the Vendor is aware (without having made any enquiry of
insurers, underwriters or brokers), adequate insurance in respect of each
Management Data Subsidiary has been maintained from the Management Data Business
Transfer Date to the Completion Date.

6.3   So far as the Vendor is aware (without having made any enquiry of
insurers, underwriters or brokers), all such insurances are in full force and
effect and all other premiums falling due prior to the Completion Date have been
paid in respect thereof.

6.4   So far as the Vendor is aware (without having made any enquiry of
insurers, underwriters or brokers), there are no circumstances which would or
might lead to any liability under such insurances being avoided by the insurers
or the premiums thereunder being increased.

6.5   There is no claim outstanding under any such insurances and so far as the
Vendor is aware there are no circumstances likely to give rise to such a claim.

7     CONDUCT OF BUSINESS

7.1   So far as the Vendor is aware after Completion whether by reason of an
existing agreement or arrangement or as a result of the acquisition of the
Management Data Subsidiary Sale Shares by Newco 2 or otherwise:

      (a)   no supplier of the Management Data Subsidiary will cease supplying
            the Management Data Subsidiary or substantially reduce its supplies
            to the Management Data Subsidiary;

<PAGE>

      (b)   no customer of the Management Data Subsidiary will cease to deal
            with the Management Data Subsidiary or substantially reduce its
            existing level of business with the Management Data Subsidiary;

      (c)   no officer or senior employee of the Management Data Subsidiary will
            leave his office or employment.

8     PENSIONS

8.1   There are no agreements, arrangements, customs or practices (whether
legally enforceable or not) in operation at the date hereof for the payment of
or contribution towards any pensions, lump sums or other like benefits on
retirement or on death or during periods of sickness or disablement for the
benefit of any Management Data Subsidiary's employees or directors or former
employees or former directors or for the benefit of dependants of any of those
persons nor has any proposal to establish any such agreement or arrangement been
announced.

9     EFFECT OF THIS AGREEMENT

9.1   So far as the Vendor is aware compliance with the terms of this Agreement
does not and will not conflict with or result in a breach of or constitute a
default under any of the terms, conditions or provisions of any material
agreement or material instrument to which the Management Data Subsidiary is a
party or any provision of the Memorandum or Articles of Association of the
Management Data Subsidiary or any material lease, contract, order, judgement,
award, injunction, regulation or other Security Interest, to which any asset of
the Management Data Subsidiary is bound or subject and "material" for the
purposes of this paragraph 9.1 shall mean such matter which would give rise to a
single claim for a breach of paragraph 9.1 in excess of (pound)100,000.

<PAGE>

                      REPRESENTATION AND WARRANTY AGREEMENT

This Agreement is made as of July 13th 2000 by and between

GEAC COMPUTER CORPORATION LIMITED, and GEAC Canada Limited (the latter being
referred to herein as "GCL") each being, a limited liability company,
incorporated under the laws of Canada, both having their registered offices at
4100 Yonge Street, Suite 601, Toronto, Ontario M2P 2G2, Canada (the two
companies together (and where the context requires, either of them) being
referred to herein as "GEAC")

on the one side

and

INGLEBY (1306) LIMITED, a limited liability company, incorporated under the laws
of England, having its registered office at 1690 Park Avenue, Aztec West,
Almondsbury, Bristol, BS42 4RA ("NEWCO 1")

on the other side.

                                    PREAMBLE

WHEREAS GEAC wish to sell all of the assets necessary to run the Business,
including but not limited to the former subsidiaries of Management Data it
acquired, as well as all shares in GEAC AUT ("THE SOLD ASSETS") to NEWCO 1 or
such subsidiaries of NEWCO 1 as it shall direct;

WHEREAS GEAC acquired the Sold Assets as they subsisted at the Initial Warranty
Date from Management Data and received representations and warranties from
Management Data and Creditanstalt as set out in the May Agreement (defined
below);

WHEREAS GEAC is ready and willing to grant NEWCO 1 representations and
warranties based on those it received from Management Data and Creditanstalt for
the assets of the Business it is willing to sell to NEWCO 1 or such of its
subsidiaries as it shall direct;

WHEREAS GEAC, NEWCO l and SBS International Holdings Limited ("NEWCO 2") have
today entered into the Sale Agreement (defined below):-

Now therefore GEAC warrants and represents to NEWCO 1 as follows and
acknowledges that NEWCO 1 is relying upon these representations and warranties:

DEFINITIONS

In this Agreement the following words have the following meanings:-

"ACCOUNTS RECEIVABLE" means the trade receivables of the Business as of the
Initial Warranty Date (defined below);

<PAGE>

"AGREEMENT" means this agreement and all schedules attached to this agreement,
in each case as they may be amended or supplemented from time to time and unless
otherwise indicated, references to Articles and sections are to Articles and
sections in this agreement

"BUSINESS" means the business of Management Data and the Management Data
Subsidiaries known prior to the Initial Warranty Date as "THE MANAGEMENT DATA
BUSINESS" and carried on by GEAC AUT and the Management Data Subsidiaries at the
Warranty Date being the business of the development, production, distribution
and sale of products and related services to deliver Integrated Transaction
Management Solutions to banks and other financial institutions such business
having been transferred to GEAC AUT from Management Data pursuant to the May
Agreement;

"BUSINESS DAY" means any day, other than Saturday, Sunday or any statutory
holiday in Austria;

"CHARGE" means any security interest, lien, charge, pledge, encumbrance,
mortgage, adverse claim or title retention agreement of any nature or kind;

"CLAIMS" means any pending or threatened cause of action, suit, proceeding,
charge, appeal, demand, assessment, judgement, or asserted liability;

"COMMERCIAL SOFTWARE" means all software used in the Business that is licensed
from third parties, including but not limited to embedded software;

"CREDITANSTALT" means Creditanstalt AG, a stock corporation, incorporated under
the laws of Austria, having its registered office at Schottengasse 6-8, 1 01 0
Vienna, Austria;

"END USER AGREEMENTS" means all of the agreements that exist with end users
relating to the Business including any correspondence, collateral warranties or
letters that are capable of affecting materially any such agreement between
Management Data and the end user;

"EXCLUDED ASSETS AND LIABILITIES" means the assets and liabilities of Management
Data not assumed by GEAC AUT pursuant to the May Agreement and described in
Schedule 3.1 thereto;

"GEAC AUT" means GEAC Computer GmbH, a limited liability company, incorporated
under the laws of Austria, having its registered office at Althanstra(beta)e
21-25, 1090 Vienna, Austria;

"INTELLECTUAL PROPERTY RIGHTS" means all of the intellectual property rights in
the IPR Technology, including without limitation, trade marks, trade mark
applications, trade names, trade secrets, patents, patent applications, rights
to file patents, industrial designs, utility models and copyright, that are
owned by GCL and/or used by GEAC AUT and the Management Data Subsidiaries in the
Business;

"IPR TECHNOLOGY" means all Technology excluding Commercial Software;

"LOSSES" means all out-of-pocket expenses, liability, assessments, tax
deficiency (including fines, interest and penalties), damages, court costs,
fines, interest, fees and expenses (including without limitation, disbursements
and reasonable attorney's fees incurred in connection with the

<PAGE>

investigation or defence of any Claim or the enforcement of any indemnification
rights), excluding in any case consequential damages (so-called "Folgeschaden"
in the meaning of applicable Austrian civil law) and loss of profit;

"MANAGEMENT DATA" means Management Data GmbH, a limited liability company,
incorporated under the laws of Austria, having its registered office at
Althanstrasse 21-25, 1090 Vienna, Austria;

"MANAGEMENT DATA SUBSIDIARIES" has the meaning contained in the Sale Agreement;

"MAY AGREEMENT" means the agreement (and schedules) entered into on May 1, 2000
between GEAC and GEAC AUT on the one side and Management Data and Creditanstalt
on the other side a copy of which is annexed as "EXHIBIT MAY AGREEMENT");

"PERSON" means any individual, partnership, limited partnership, joint venture,
syndicate, sole proprietorship, company or corporation with or without share
capital, unincorporated association, trust, trustee, executor, administrator or
other legal personal representative, regulatory body or agency, government or
governmental agency, authority or entity however designated or constituted;

"PURCHASED ASSETS" means all of the property, assets and rights, (other than the
Excluded Assets and Liabilities, the Intellectual Property Rights and the
Management Data Subsidiaries) used by GEAC AUT and the Management Data
Subsidiaries in carrying on the Business on the date hereof;

"SALE AGREEMENT" means the agreement entered into on the date hereof between
GEAC, NEWCO 1 and NEWCO 2 for the sale and purchase of the entire issued share
capital of GEAC Computers Limited, GEAC AUT, and the Management Data
Subsidiaries;

"SOFTWARE ASSIGNMENT" means the agreement to be entered into on the date hereof
between NEWCO 1 and GCL transferring to NEWCO 1 all of the Intellectual Property
Rights;

"TECHNOLOGY" means the entire software used in the Business existing as at the
Warranty Date, including (without limitation) computer based software of any
type or form, in any stage of actual or anticipated development, and in any
location including programs and program modules, routines and subroutines,
procedures, algorithms, design concepts, design specifications (design notes,
annotations, documentation, flow charts, coding sheets, and the like), source
code, object code and load modules, programming, program patches, system designs
and manuals and work product resulting from or relating to work or projects
performed for the Business including interim and final lines of inquiry,
hypotheses, research and conclusions related thereto and the methods,
procedures, analysis techniques and audits used in connection therewith.

"WARRANTY DATE" means the date hereof and "INITIAL WARRANTY DATE" means 1st May
2000.

<PAGE>

                     SECTION 1 INTELLECTUAL PROPERTY RIGHTS

With respect to the Intellectual Property Rights GEAC warrants and represents to
NEWCO 1 as follows and acknowledges that NEWCO 1 is entering into the Software
Assignment in reliance upon the following representations and warranties and
also acknowledges that NEWCO 1 and NEWCO 2 would not have entered into the Sale
Agreement in the absence of NEWCO 1 being able to place reliance upon the
following representations and warranties;

INTELLECTUAL PROPERTY RIGHTS:

1.1      GCL owns or has the right to use all the Technology and the
         Intellectual Property Rights and proprietary or other confidential
         information employed in connection with the Business and necessary for
         the conduct of the Business and Schedule 1.2.2 of the May Agreement
         lists all such intellectual property rights as at the Initial Warranty
         Date and all such Intellectual Property Rights continue to subsist as
         at the Warranty Date.

1.2      All development tools and embedded tools are properly licensed and
         under support or the migration to a supported tool is possible and
         practical with reasonable efforts.

1.3      The Intellectual Property Rights are valid and enforceable under
         Austrian Law without the necessity of separate registration.

1.4      Except as specified in Schedule 1.2.5 of the May Agreement, there are
         no royalties payable to others, and no agreement that limits or impairs
         the ability to sell, license or assign, or that otherwise affects, the
         IPR Technology or the Intellectual Property Rights.

1.5      The Business and/or the use of the Intellectual Property Rights does
         not infringe, and Management Data, has not received prior to the
         Initial Warranty Date nor have any of GEAC or GEAC AUT or any of the
         Management Data Subsidiaries received prior to the Warranty Date any
         notice, threat or claim alleging infringement of, any trade marks,
         trade names, trade secrets, patents, copyrights or other intellectual
         property rights or franchise rights of any Person. Similarly, there is
         no and has been no claim asserted, pending or threatened which disputes
         Management Data's previous or GCL's current ownership of the IPR
         Technology.

1.6      The transfer to GCL of all intellectual property rights pursuant to the
         May Agreement and the transfer to NEWCO 1 of the Intellectual Property
         Rights by GCL pursuant to the Software Assignment and the use by NEWCO
         1 or any subsidiary of NEWCO 1 of those Intellectual Property Rights
         did not and will not infringe the intellectual property rights of any
         other Person.

1.7      There exists no infringement or violation of any of in the Intellectual
         Property Rights, nor does there exist any state of facts which casts
         doubt on the validity or enforceability of any of the Intellectual
         Property Rights.

<PAGE>

1.8      The entire right, title and interest in and to the Intellectual
         Property Rights was properly assigned to Management Data as at the
         Initial Warranty Date and thereafter to GCL or GEAC AUT as applicable
         by all investors and developers of the IPR Technology.

1.9      There are no  restrictions  on the right of GCL or any successor or
         assignee of GCL to use and exploit all Intellectual Property Rights.

1.10     The IPR Technology plus the third party technology embedded in the IPR
         Technology that is licensed to customers of the Business performs the
         functions for which it was intended and conforms to the user guides and
         associated documentation for the IPR Technology. With regard to third
         party products that have been licensed to end users, there were no
         warranties given to end users that went beyond the warranties given by
         the respective owners of the product to Management Data or the relevant
         Management Data Subsidiaries prior to the Initial Warranty Date and
         thereafter to GEAC AUT, GCL or the relevant Management Data
         Subsidiaries as the case may be.

1.11     None of the Technology contains any product keys, expiry codes, time
         locks, bombs, or other routines, codes or devices that could prevent
         NEWCO 1 or any end-user from using the Technology at any time in
         accordance with the agreement related to this Technology.

1.12     Whether as at the Initial Warranty Date or as at the Warranty Date none
         of the Technology and the computer systems and media on which such
         Technology is stored, contains any computer viruses or any other
         programs that could affect the normal use of such software or any other
         software, data or computer systems and GEAC confirms that there is a
         current virus test procedure in place.

1.13     None of Management Data or the Management Data Subsidiaries prior to
         the Initial Warranty Date or GEAC, GEAC AUT or the Management Data
         Subsidiaries thereafter have provided the Intellectual Property Rights
         to any Person except as pursuant to an End User Agreement or pursuant
         to a partner agreement such partner agreements as set forth in Schedule
         4.1 of the May Agreement and any additions thereto as listed in
         Schedule 4.1.

1.14     Except as specifically set out in the End User Agreements related to
         customisations, no Person has been granted an ownership right in any
         derivative works based on or related to the IPR Technology.

1.15     Schedule 1.2.16 of the May Agreement describes all of the registered
         Intellectual Property Rights and all applications for registration of
         Intellectual Property Rights as at the Initial Warranty Date, specifies
         the jurisdiction of registration or application and lists all
         registration and application numbers. Schedule 1.2.16 hereto lists any
         additions to schedule 1.2.16 up to the Warranty Date. All statements
         contained in all applications for registration of the Intellectual
         Property Rights are true and correct as of the date of such
         applications. There are no trademarks or tradenames in use.

1.16     There are appropriate back-up storage and disaster recovery
         arrangements for all Technology used in the Business.

<PAGE>

1.17     There are no agreements, options or other rights pursuant to which GEAC
         is or may become obligated to sell to any third party any of the
         Intellectual Property Rights to be transferred to NEWCO 1 under the
         Software Assignment.

1.18     GEAC will provide NEWCO 1 with assistance as may be required in order
         to protect the Intellectual Property Rights to be transferred to NEWCO
         1 pursuant to the Software Assignment, including providing assistance
         as may be required in connection with filing, prosecuting and
         maintaining any patents or other registrations relating to the IPR
         Technology. GEAC will assign to NEWCO 1(or if such assignment is not
         possible, enforce on behalf of NEWCO 1), any obligations owed to GEAC
         in connection with the Technology and the Intellectual Property Rights.
         GEAC will promptly do, make, execute or deliver, or cause to be done,
         made, executed or delivered, all further acts, documents and things as
         NEWCO 1 may reasonably require from time to time for the purpose of
         transferring to NEWCO 1 the Technology and the Intellectual Property
         Rights, and otherwise giving effect to the Software Assignment and will
         use reasonable efforts and take all steps as may be reasonably within
         its power to implement to their full extent the provisions of the May
         Agreement and the Software Assignment.

1.19     All software is Year 2000 compliant and there are no Year 2000 related
         problems.

1.20     Neither Management Data had as at the Initial Warranty Date nor GEAC
         has since such date breached or otherwise violated any agreements
         relating to the Commercial Software, and GCL, GEAC AUT or the relevant
         Management Data Subsidiaries have as the case may be a valid right to
         use the Commercial Software for their respective businesses. No claims
         in respect of the Commercial Software have been asserted or threatened
         by any Person against Management Data prior to the Initial Warranty
         Date or GCL, GEAC AUT, or any of the Management Data Subsidiaries since
         the Initial Warranty Date. There are no grounds for any claims (i) to
         the effect that the use of the Commercial Software in respect of the
         Business infringes any intellectual property rights, (ii) against the
         use of the Commercial Software in the Business, or (iii) challenging
         the ownership of the Commercial Software whether at or prior to the
         Initial Warranty Date or in the period to the Warranty Date. There has
         been no unauthorised use, infringement, or misappropriation of the
         Commercial Software by Management Data prior to the Initial Warranty
         Date nor by GCL, GEAC AUT, or any of the Management Data Subsidiaries
         or any staff or former staff of any of them. The owner or licenser of
         the Commercial Software is not subject to any claim, order, judgement,
         stipulation or agreement that restricted or could restrict the use of
         the Commercial Software in the Business. All Commercial Software is
         listed in Schedule 1.2.21 of the May Agreement.

                   SECTION 2 THE MANAGEMENT DATA SUBSIDIARIES

In respect of the Management Data Subsidiaries as acquired by NEWCO 2 pursuant
to the Sale Agreement GEAC warrants and represents to NEWCO 1 as follows and
acknowledges that NEWCO I is entering into the Software Assignment in reliance
upon the following representations and warranties and acknowledges that NEWCO 1
and NEWCO 2 would not have entered into the Sale Agreement in the absence of
NEWCO 1 being able to place reliance upon

<PAGE>

the following representations and warranties. The following representations and
warranties are given as at the Warranty Date and, where applicable, as to the
state of affairs of the Management Data Subsidiaries as at or prior to the
Initial Warranty Date.

2.1      The Management Data Subsidiaries' are all limited liability companies
         duly established and validly existing under the applicable law. None of
         the Management Data Subsidiaries share capital has been subject to a
         capital decrease or any other refund to its shareholders.

2.2      GEAC is the sole and unrestricted owner of the entire issued share
         capital of all the Management Data Subsidiaries ("THE SHARES"). No
         Shares or other securities of any of the Management Data Subsidiaries
         have been issued in violation of any laws, the articles of
         incorporation, by-laws or other constating documents of the applicable
         subsidiary or the terms of any shareholders' agreement or any agreement
         to which the applicable subsidiary is a party or by which it is bound.

2.3      As at the Initial Warranty Date Management Data owned and as at the
         Warranty Date GEAC owns all of the issued and outstanding Shares of
         each of the Management Data Subsidiaries as the shareholder of record
         and as the beneficial owner, with good and marketable title thereto,
         free and clear of any and all encumbrances including but not limited to
         charges, pledges, security interests, actions, claims or demands and
         any rights capable of becoming any of the foregoing.

2.4      The Management Data Subsidiaries are limited liability companies
         defined under the applicable local law. The Management Data
         Subsidiaries have all the necessary corporate powers to own their
         properties and to carry on their business as it is now being conducted.

2.5      No person has any agreement or option or any right capable of becoming
         an agreement or option, including but not limited to convertible
         securities, warrants or convertible obligations of any nature, for the
         purchase, subscription, allotment or issuance of, or conversion into,
         any of the unissued shares in the capital of any of the Management Data
         Subsidiaries or any securities of any of the Management Data
         Subsidiaries.

2.6      The articles, by-laws and other constating documents of all the
         Management Data Subsidiaries are complete and correct.

2.7      None of the Management Data Subsidiaries are required or otherwise
         obligated to request or obtain the consent of any person, and no
         permits, licenses, certifications, authorisations or approvals of any
         government or governmental agency, board, commission or authority are
         required to be obtained by any of the Management Data Subsidiaries in
         connection with the Sale Agreement or its effect that can not be
         obtained within a reasonable period of time.

2.8      The corporate records and minute books of each Management Data
         Subsidiary contain complete and accurate minutes of all meetings of the
         directors and shareholders of each Management Data Subsidiary held
         since its incorporation, and original signed copies of all resolutions
         and by-laws duly passed or confirmed by the directors or shareholders
         of

<PAGE>

         each Management Data Subsidiary, other than at a meeting are available.
         All such meetings were duly called and held. The share certificate
         books, register of security holders, register of transfers and
         register of directors and any similar corporate records of each
         Management Data Subsidiary are complete and accurate. All exigible
         security transfer tax or similar tax payable in connection with the
         transfer of any securities in all the Management Data Subsidiaries
         has been duly paid.

2.9      There are no shareholders' agreements, pooling agreements, voting
         trusts or other similar agreements with respect to the ownership or
         voting of any of the Shares.

                    SECTION 3 ASSETS, LIABILITIES, EMPLOYEES

With respect to the Purchased Assets, as well as the liabilities and employees
of GEAC AUT that were assumed and/or taken over from Management Data in the May
Agreement GEAC warrants and represents to NEWCO 1 as follows and acknowledges
that NEWCO 1 is relying upon the following representations and warranties in
entering into the Software Assignment and acknowledges that NEWCO 1 and NEWCO 2
would not have entered into the Sale Agreement in the absence of NEWCO 1 being
able to place reliance upon the following representations and warranties. The
following representations and warranties are given as at the Warranty Date and,
where applicable, as to the state of affairs of Management Data (and where
applicable the Management Data Subsidiaries) as at or prior to the Initial
Warranty Date.

3.1      NO RIGHTS TO ACQUIRE PURCHASED ASSETS: There are no agreements, options
         or other rights pursuant to which Management Data had or GEAC AUT has,
         or could become, obligated to sell to any third party any of the
         Purchased Assets.

3.2      RIGHT TO SELL AND TITLE TO THE PURCHASED ASSETS: GEAC AUT is the
         absolute and beneficial owner of the Purchased Assets (excluding
         Commercial Software) and has good and marketable title thereto, in each
         case free of all charges or other encumbrances. GEAC AUT has the
         exclusive right to possess, use and dispose of such assets (excluding
         Commercial Software).

3.3      ACCOUNTS RECEIVABLES: The Accounts Receivable and all other monetary
         amounts are accurately shown in the financial statements of GEAC AUT
         and the relevant Management Data Subsidiaries. All Accounts Receivable,
         billed or unbilled, as of December 31, 1999 net of the specified
         balance sheet reserves for doubtful accounts made in the Financial
         Statements of Management Data as of December 31, 1999 were fully
         collectible. The Accounts Receivables that arose between January 2000
         and the Warranty Date are fully collectible minus a reserve in the
         amount of 5% of the invoiced fees to NOSTRO customers after January 1,
         2000. If the total amount actually collected by December 31, 2000 is
         below the total guaranteed amount on all the Accounts Receivables, GEAC
         will pay to NEWCO 1 the difference between the guaranteed amount and
         the collected amount by February 10, 2001; NEWCO 1 will assign any
         Accounts Receivables not collected back to GEAC,

3.4      EMPLOYMENT MATTERS: Schedule 3.4.4 of the May Agreement sets forth as
         at the Initial Warranty Date and Schedule 3.4.4 hereto reflects any
         changes thereto up to the Warranty

<PAGE>

         Date the name, job title, duration of employment, and rate of
         remuneration (including bonus and commission entitlement) of each
         employee of the Business (the "EMPLOYEES") Schedule 3.4.4 of the May
         Agreement also sets forth as at the Initial Warranty Date and
         Schedule 3.4.4 hereto reflects any changes thereto up to the Warranty
         Date the names of all Employees of the Business who were on maternity
         or other absence or who had notified Management Data of any leave or
         other absence (which means Employees who were, are, unable to work
         for more than 8 consecutive weeks prior to the Initial Warranty Date).
         All Employees listed in Schedule 3.4.4 of the May Agreement had written
         employment agreements with Management Data or the applicable
         Management Data Subsidiary except as disclosed in Schedule 3.4.4 of
         the May Agreement. There are no Employees who have previous years
         carried forward vacation. None of the Employees are entitled to
         severance payments or notice periods beyond the respective statutory
         requirements, and there are no profit sharing entitlements or any
         other unusual or unusually burdensome regulations applicable to any
         Employees except as disclosed in Schedule 3.4.4 of the May
         Agreement. As at the Initial Warranty Date Management Data did not
         have and as at the Warranty Date GEAC AUT does not have, and is not
         bound by any agreement or statutory requirement relating to, any
         pension plan, deferred compensation plan, retirement income plan,
         stock option or stock purchase plan, profit sharing plan, employee
         group insurance plan, or other employee benefit plan with respect to
         any of the Employees. As at the Initial Warranty Date with regard to
         Management Data and as at the Warranty Date with regard to GEAC AUT
         there are no such commitments to any former managing directors,
         Employees or any other persons previously engaged in the Business.
         There are not any pending claims that could result in liability to
         the employer. GEAC will hold harmless and indemnify GEAC AUT for any
         costs resulting from special agreements with Employees, which
         guarantee the Employee a special compensation or option or other
         benefit arising out of change of ownership in GEAC AUT.

3.5      GEAC hereby agrees to indemnify NEWCO 1 for any amount payable by GEAC
         AUT relating to or arising out of the cessation of employment of George
         Wishart with Management Data America Inc.

3.6      GEAC AUT has not been notified by any manager or executive (which means
         managing directors of GEAC AUT , division manager of GEAC AUT and the
         country managers of the Management Data Subsidiaries ) that they
         intended to terminate their employment with GEAC AUT or the applicable
         Management Data Subsidiary.

3.7      The only collective labour agreement applicable to the Employees is the
         collective bargaining agreement "Kollektivvertrag fur Angestellte des
         Gewerbes" and the Work's Council Agreements as referenced to in Section
         3.3 of the May Agreement.

3.8      There are no existing or threatened labour strikes or labour disputes,
         grievances, controversies or other labour troubles affecting the
         Business or the Employees. There are no outstanding charges or
         complaints against GEAC AUT or the applicable Management Data
         Subsidiary relating to unfair labour practices or discrimination under
         any legislation relating to Employees.

<PAGE>

3.9   CONSULTING AGREEMENTS AND WORKS CONTRACTS: The agreements entered into by
      Management Data with the Persons listed in Schedule 3.4.5 of the May
      Agreement did not constitute employment contracts.

3.10  ASSETS IN GOOD CONDITION: The fixed assets used in the Business were as at
      the Initial Warranty Date and are as at the Warranty Date in good
      operating condition and in a state of good maintenance and repair having
      regard to their age and are suitable to the Business as the same is
      carried on as of the Warranty Date.

                         SECTION 4 CONTRACT ASSIGNMENTS

GEAC warrants and represents to NEWCO 1 as follows and acknowledges that NEWCO 1
is entering into the Software Assignment in reliance upon the following
representations and warranties in connection with the contracts listed in
schedule 4.1 of the May Agreement and similar contracts coming into effect since
the Initial Warranty Date, and acknowledges that NEWCO 1 and NEWCO 2 would not
have entered into the Sale Agreement in the absence of NEWCO 1 being able to
place reliance upon the following Representations and Warranties

4.1   DEFAULTS UNDER AGREEMENTS: Neither Management Data nor GEAC AUT nor any of
      the Management Data Subsidiaries has received any formal notice from a
      lawyer alleging default or breach under any agreement with any Person
      including but not limited to notices under the SWIFT agreement which could
      have entitled SWIFT to terminate its agreement if such notices accumulate.
      Neither Management Data nor GEAC AUT nor any of the Management Data
      Subsidiaries is in default or breach in any material respect of any of
      their agreements with customers, suppliers or other Persons and, there
      exists no state of facts which after notice or the passage of time, or
      both, could be constituted a default or breach, and all the agreements are
      as of the Warranty Date in good standing and GEAC AUT or one of the
      Management Data Subsidiaries is entitled to all benefits, rights and
      privileges in the agreements. Third party software resold by GEAC AUT or
      any of the Management Data Subsidiaries continues to be available to GEAC
      AUT or such subsidiary under arrangements existing as at the Warranty
      Date. None of GEAC AUT's or any of the Management Data Subsidiaries
      suppliers has announced its intention to cease to maintain, support or
      further enhance such software. There is no material actual or threatened
      termination or adverse modification in the business relationship of GEAC
      AUT or that of any of the Management Data Subsidiaries with any material
      customer or supplier which could lead to a termination of an agreement
      within a period of 90 days following the Warranty Date.

4.2   END USER AGREEMENTS: The End User Agreements do not include any provisions
      requiring GEAC AUT or any of the Management Data Subsidiaries to disclose
      the source code for the Technology other than on the bankruptcy or
      insolvency of the applicable company. GEAC AUT has possession of all the
      source code that are required for it or any of the Management Data
      Subsidiaries to fulfil its maintenance and support obligations to its
      customers. Except as disclosed in Schedule 4.2.2 of the May Agreement, the
      End User Agreements, other than agreements with respect to future support
      services, do not include provisions for refunds or royalties to be paid by
      GEAC AUT or any of the Management

<PAGE>

      Data Subsidiaries. Except as disclosed in Schedule 4.2.2 of the May
      Agreement or Schedule 4.2.2 hereto neither GEAC AUT nor any of the
      Management Data Subsidiaries has any material outstanding contractual
      commitments, except for support and maintenance commitments to any
      customer for which there was no corresponding revenue stream at all due
      from such customers.

4.3   No material credit notes needed to be issued outside the ordinary course
      of business within the 6 months period following the Initial Warranty Date
      nor do any such material credit notes need to be so issued within 6 months
      following the Warranty Date in either case respectively resulting from
      sales prior to the Initial Warranty Date or the Warranty Date
      respectively. NEWCO 1, GEAC AUT or one of the Management Data Subsidiaries
      will give immediate notice to GEAC if it becomes aware of any issue and
      will use the same efforts to resolve the issue as it would have used if it
      had no recourse against GEAC provided however that those efforts are at
      least diligent efforts.

      There are no credit notes outstanding that were not accounted in the books
      of the Business as of the Warranty Date

4.4   AS TO CERTAIN CONTRACTS IN AND OUT OF THE ORDINARY COURSE: Neither GEAC
      AUT nor any of the Management Data Subsidiaries is a party to or bound by
      any contract, agreement or commitment in respect of the Business, the
      Technology or the other Purchased Assets, including any license or royalty
      agreement relating to the Technology or any contract, agreement or
      commitment which materially adversely affects or could materially
      adversely affect the Business or any of the Purchased Assets or which
      could have become materially burdensome to the Business.

4.5   INSURANCE: Schedule 4.2.4 of the May Agreement includes a list of all
      insurance contracts for the Purchased Assets and all other insurance
      contracts. Neither GEAC AUT nor any of the Management Data Subsidiaries is
      in default with respect to any of the provisions contained in any such
      insurance policies nor has failed to give any notices or pay any premium
      or present any claim under any such insurance policy.

4.6   NEGATIVE CONTRACT OBLIGATIONS: Neither Management Data nor GEAC AUT nor
      any of the Management Data Subsidiaries have entered into any project
      agreement with any customer in which there were material negative contract
      obligations.

4.7   WARRANTY: Neither Management Data nor GEAC AUT nor any of the Management
      Data Subsidiaries have given warranties on products sold or licensed or
      the services provided by it except written warranties made in the ordinary
      course of business.

4.8   NOSTRO CUSTOMER CONTRACTS: The standard terms and conditions for the
      NOSTRO customer contracts are attached as Schedule 4.2.8 to the May
      Agreement. GEAC warrants that all NOSTRO customer contracts are based on
      these standard terms and conditions and there are no material deviations
      from these standard terms and conditions.

4.9   TERMINATED CONTRACTS: Except as disclosed in the attrition report in
      schedule 4.2.9 of the May Agreement, no customer of the Business has
      notified Management Data prior to the

<PAGE>

      Initial Warranty Date and except as disclosed in Schedule 2.9, none of
      GEAC AUT or any of the Management Data Subsidiaries have been notified
      since the Initial Warranty Date that it intends to discontinue using
      Management Data's, GEAC AUT's or any of the Management Data Subsidiaries'
      software or cease to subscribe for maintenance of the software that it had
      licensed from Management Data, GEAC AUT or any of the Management Data
      Subsidiaries.

4.10  DISCOUNTS: No material and significant price discount exists in any
      agreement or quotation that extends beyond 30 days after Warranty Date.

4.11  NO RIGHTS TO ACQUIRE CONTRACTS: There are no agreements, options or other
      rights pursuant to which Management Data, GEAC AUT or any of the
      Management Data Subsidiaries is or could become, obligated to sell to any
      third party any of the contracts assigned to GEAC AUT under the May
      Agreement or entered into by GEAC AUT or any of the Management Data
      Subsidiaries since the date of the May Agreement.

                SECTION 5 GENERAL REPRESENTATIONS AND WARRANTIES

GEAC warrants and represents to NEWCO 1 as follows and acknowledges that NEWCO 1
is entering into the Software Assignment in reliance upon the following
representations and warranties and acknowledges that NEWCO 1 and NEWCO 2 would
not have entered into the Sale Agreement without NEWCO 1 being able to place
reliance upon the following Representatives and Warranties:

5.1   INCORPORATION AND STATUS: Management Data was duly incorporated and
      validly existing under the laws of its jurisdiction of incorporation as at
      1st May 2000. Management Data was duly registered, licensed and qualified
      to carry on business under the laws of its jurisdictions in which the
      nature of the Business or the Purchased Assets or any of them made
      registration, licensing or qualification necessary up to 1st May 2000.

5.2   CORPORATE POWER AND DUE AUTHORISATIONS. Management Data had the corporate
      power and capacity to enter into, and to perform its obligations under the
      May Agreement. The May Agreement had been duly authorised. The May
      Agreement had been duly executed and delivered by Management Data and is a
      valid and binding obligation of Management Data , enforceable in
      accordance with its terms, subject to the usual exceptions as to
      bankruptcy and the availability of equitable remedies.

5.3   NO CONTRAVENTION: Neither the entering into of the May Agreement, the sale
      of the Purchased Assets nor the performance by Management Data of any of
      its other obligations under the May Agreement contravened, breached or
      resulted in any default under the constating documents or other
      organisational documents of Management Data or under any mortgage, lease,
      agreement, other legally binding instrument, license, permit, statute,
      regulation, order, judgement, decree or law to which Management Data was a
      party or by which it could have been bound, other than certain of the
      agreements which required that the consent of the other party or of
      another Person be obtained prior to any assignment of the agreement.

<PAGE>

5.4      COMPLIANCE WITH LAWS: Management Data was and GEAC AUT and the
         Management Data Subsidiaries are conducting the Business in compliance
         in all material respects with all applicable laws, regulations, by-laws
         and ordinances of each jurisdiction in which the Business was carried
         on.

5.5      LITIGATION AND OTHER PROCEEDINGS: Except as set out in Schedule 5.1.5
         of the May Agreement there are no court, administrative, regulatory or
         similar proceeding (whether civil, quasi-criminal or criminal),
         arbitration or other dispute, settlement procedure, investigation or
         inquiry by any governmental, administrative, regulatory or similar
         body, or any similar matter or proceeding (collectively "proceedings")
         against or involving Management Data prior to the Initial Warranty Date
         nor since such date GEAC AUT or any of the Management Data Subsidiaries
         in respect of the Business or the Purchased Assets (whether in progress
         or threatened) and no event has occurred which may give rise to any
         proceedings and there is no judgement, decree, injunction, rule, award
         or order of any court, government department, board, commission,
         agency, arbitrator or similar body outstanding against GEAC AUT or any
         of the Management Data Subsidiaries in respect of the Purchased Assets
         or the Business.

5.6      TAXES AND LEVIES: GEAC AUT and the Management Data Subsidiaries are in
         compliance with all legal, taxation and regulatory requirements in the
         jurisdictions where they carry on business. GEAC AUT and the Management
         Data Subsidiaries have timely and completely filed all tax returns,
         paid all taxes or levies due to be paid or charged or assessed against
         them and have made advance payments on taxes and levies to the extent
         and in the amounts required by the tax authorities.

5.7      SUBSIDIARIES: GEAC is the sole and unrestricted owner of the Shares.
         The Shares are free and clear of encumbrances and third party rights
         (including but not limited to options, pledges or other security
         rights). GEAC is not subject to any restrictions in the disposal of the
         Shares.

5.8      OFFERING MEMORANDUM: The Offering Memorandum and any additional
         financial information or other information disclosed to GEAC by
         Management Data in written form is true and accurate in all material
         aspects and was prepared in accordance with generally accepted
         accounting principles. The annual accounts as of 31 December 1999 are
         true, complete and accurate and they are prepared in accordance with
         general accepted accounting principles in Austria.

5.9      MATERIAL DISCLOSURE: Any information in relation to the Business which
         in respect of the period up to the Initial Warranty Date might
         reasonably be supposed to be material to GEAC's purchase under the May
         Agreement or, in respect of the period to the Warranty Date, might
         reasonably be supposed to be material to a purchaser of the Business in
         determining (i) whether or not to purchase the Business or the
         Purchased Assets; or (ii) the price at which or the terms upon which a
         purchaser would be prepared to purchase the Business or the Purchased
         Assets, has been disclosed to NEWCO 1.

<PAGE>

5.10     ARM'S LENGTH MATTERS: With respect to the Business prior to the
         Warranty Date there are no agreements with Management Data or GEAC or
         the parent or any of the affiliates of Management Data or GEAC or any
         officers, former shareholders, employees or former employees of either
         of them with regard to or affecting the Business other than as
         contemplated by the Sale Agreement, save for contracts with Bank
         Austria, Creditanstalt and Dataservice Informatik GesmbH, listed in
         Schedule 4.1 of the May Agreement.

         LEASED ASSETS: Schedule 5.1.11 describes all leases or agreements to
         lease (the "LEASES") under which Management Data, GEAC AUT or any of
         the Management Data Subsidiaries leases any real property or company
         cars (the "LEASED ASSETS") in connection with the Business, GEAC AUT or
         any of the Management Data Subsidiaries and their employees are
         entitled to all rights and benefits as lessee under the Leases and
         neither Management Data, GEAC AUT nor any of the Management Data
         Subsidiaries have conveyed any rights in the Leased Assets or in the
         Leases to any other Person. The names of the other parties to the
         Leases, the term, rent and other amounts payable under the Leases as at
         Warranty Date are described in Schedule 5.1.11 of the May Agreement.
         All rental and other payments and maintenance and other obligations
         that are required to be paid or performed by Management Data, GEAC AUT
         or any of the Management Data Subsidiaries pursuant to the Leases have
         been duly paid and performed and the Leased Assets are in a good state
         of repair and maintenance, reasonable wear and tear excepted. Neither
         GEAC AUT nor any of the Management Data Subsidiaries is in default of
         any of its obligations under the leases and none of the lessors or
         other parties to the Leases are in default of any of their obligations
         under the Leases. Except as disclosed in Schedule 5.1.11 of the May
         Agreement none of the Leased Assets have been changed or modified such
         that upon termination of the Leases therefor, GEAC AUT or any of the
         Management Data Subsidiaries would be required to spend more than EUR
         50,000 to restore the Leased Assets to their original state. The terms
         and conditions of the Leases are not affected by, nor would any of the
         leases be in default as a result of, the completion of the transactions
         contemplated in the Sale Arrangement or the Software Assignment. The
         use by GEAC AUT or any of the Management Data Subsidiaries of the real
         property is not in breach of any building, zoning or other statute,
         by-law, ordinance, regulation, covenant, restriction or official plan.
         GEAC AUT or any of the Management Data Subsidiaries has adequate rights
         of ingress to and egress from the real property for the operation of
         the Business in the ordinary course.

5.11     ENVIRONMENTAL MATTERS: The operation of the Business, and the Purchased
         Assets, is in compliance with all environmental laws. There are no
         hazardous substances located on or in any of the Purchased Assets, and
         no release of any hazardous substances has occurred on or from the
         Purchased Assets or had resulted from the operation of the Business.
         None of Management Data, GEAC AUT and the Management Data Subsidiaries
         has received any notice of any non-compliance with any environmental
         laws.

5.12     JOINT VENTURES: None of Management Data, GEAC AUT and the Management
         Data Subsidiaries is a partner or participant in any partnership, joint
         venture, profit-sharing Arrangement or other association of any kind
         nor is not a party to any agreement under
<PAGE>

      which the Business could have been required to share any revenue or profit
      with any other Person.

      SECTION 6 WARRANTY DATE, SURVIVAL OF REPRESENTATIONS AND WARRANTIES

All representations, warranties, covenants and obligations contained in this
Agreement are made as of Warranty Date unless expressly stipulated otherwise in
this Agreement and will survive the Warranty Date contemplated by this Agreement
subject to the exceptions set forth below.

GEAC's representations warranties, covenants and obligations contained in this
Agreement will terminate on the (3rd) third anniversary of the Warranty Date
except that the warranties will continue (i) until seven (7) years after
Warranty Date as to the warranties set forth in section 1 (Technology and
Intellectual Property Rights), and (ii) until one (1) year following a final and
unappealable decision of the competent tax authorities following a tax audit
covering taxes and levies up to the Warranty Date as to the warranties set forth
in section 5 relating to Taxes and Levies,

Except as otherwise provided herein, no Claim will be made for the breach of any
representation or warranty contained in this Agreement or under any certificate
delivered with respect thereto under this Agreement after the date on which such
representations and warranties terminate as set forth in this section.

                           SECTION 7 INDEMNIFICATION

7.1   GEAC agrees to indemnify and hold harmless NEWCO 1 from and against any
      and all Losses incurred by NEWCO 1, NEWCO 2, GEAC AUT or Generator 400
      Limited in connection with or arising from any breach of any warranty or
      the inaccuracy of any representation of GEAC contained or referred to in
      this Agreement.

7.2   General

NOTICE OF CLAIM.

(a)   Claim Notice: NEWCO 1 seeking indemnification. hereunder will give to GEAC
      a notice (a "Claim Notice") describing in reasonable detail the facts
      giving rise to any Claim for indemnification and will include in the Claim
      Notice (if then known) the amount or the method of computation of the
      amount of the Claim, and a reference to the provision of this Agreement or
      any other document executed hereunder or in connection herewith upon which
      NEWCO 1 elects to base the Claim; provided that a Claim Notice in respect
      of any action by or against a third Person as to which indemnification is
      sought will be given promptly after the action or suit is commenced;
      provided further that failure to give any Claim Notice will not relieve
      GEAC of its obligations hereunder except to the extent it is prejudiced by
      such failure.

(b)   Amount of Indemnification: After the giving of any Claim Notice pursuant
      hereto, the amount of Indemnification to which NEWCO 1 will be entitled
      under this section will be determined (i) by a written agreement between
      NEWCO 1 and GEAC, (ii) by a final

<PAGE>

      judgement or decree of any court of competent jurisdiction; or (iii) by
      any other means to which NEWCO 1 and GEAC agree. The judgement or decree
      of a court will be deemed final when the time for appeal, if any, has
      expired and no appeal has been taken or when all appeals taken have been
      finally determined.

THIRD PARTY CLAIMS: NEWCO 1 will have the right to conduct and control, through
counsel of its choosing, the defence, compromise or settlement of any third
party claim, action or suit as to which indemnification is sought hereunder, and
in any such case, GEAC will co-operate in connection therewith and will furnish
such records, information and testimony and attend such conferences, discovery
proceedings, hearings, trials and appeals as may be reasonably requested by
NEWCO 1 in connection therewith; provided, that GEAC may participate, through
counsel chosen by it and at its own expense, in the defence of any such claim,
action or suit as to which NEWCO 1 has so elected to conduct and control the
defence thereof; and provided further that NEWCO 1 will not, without the written
consent of GEAC (which written consent will not be unreasonably withheld), pay,
compromise or settle any such claim, action or suit, except that no such consent
will be required if, following a written request from NEWCO 1, GEAC fails to
respond, within four (4) weeks after the making of such request (or such shorter
period if NEWCO 1 has a deadline of less than four weeks), which request
includes the specific reference to this consequence. Notwithstanding the
foregoing, NEWCO 1 will have the right to pay, settle or compromise any such
claim, action or suit without such consent, provided that in such event NEWCO 1
will waive any right to indemnity therefor hereunder unless such consent is
unreasonably withheld.

                           SECTION 8 GENERAL MATTERS

8.1   Expenses and Taxes

      Each of GEAC and NEWCO 1 will be responsible for the expenses (including
      fees and expenses of legal advisers, accountants and other professional
      advisers) incurred by them, respectively, in connection with the
      negotiation and settlement of this Agreement and the completion of the
      transaction contemplated by this Agreement.

8.2   Joint and Several Liability

      It is agreed that the two GEAC entities specified in this Agreement will
      be severally and jointly liable for all obligations arising out of or in
      connection with this Agreement.

      The following Schedules are attached to this Agreement:

      4.1,3.4.4,4.2.2,4.2.4,4.2.9,5.1.11

8.3   Gender

      In this Agreement, unless the context otherwise requires, words importing
      the singular include the plural and vice versa and words importing gender
      include all genders.

8.4   Notices

<PAGE>

      Any notice or other communication required or permitted to be given under
      this Agreement will be in writing and will be given by prepaid first-class
      mail, by facsimile or other means of electronic communication or by
      hand-delivery as provided below. Notice of change of address will also be
      governed by this section. Notices and other communications will be
      addressed as follows:

(a)   if to GEAC:

      GEAC Computer Corporation Ltd.
      Yonge Street
      Toronto, Ontario M2P 2G2
      Canada

      Attention: General Counsel

      Telecopier number: +1-416-642-8453

(b)   if to NEWCO 1

      Ingleby (1306) Limited
      1690 Park Avenue
      Aztec West
      Almondsbury
      Bristol, BS42 4RA

      Attention: Managing Director

Notwithstanding the foregoing, any notice or other communication required or
permitted to be given by any party pursuant to or in connection with any
arbitration procedures contained in this Agreement or in any Schedule may only
be delivered by registered mail.

8.5   Invalidity of Provisions

      Each of the provisions contained in this Agreement is distinct and
      severable and a declaration of invalidity or unenforceability of any
      provision or part of this Agreement by a court of competent jurisdiction
      will not affect the validity or enforceability of any other provision of
      this Agreement. If a provision of the Agreement is declared invalid or
      unenforceable by a court or tribunal of competent jurisdiction, the
      parties will use their best efforts to replace that provision with a valid
      and enforceable Provision that to the extent possible, preserves the
      intent of the original provision.

8.6   Waiver, Amendment

      Except as expressly provided in this Agreement, no amendment or waiver of
      this Agreement will be binding unless executed in writing. No waiver of
      any Provision of this Agreement will constitute a waiver of any other
      Provision nor will any waiver of any
<PAGE>

      Provision of this Agreement constitute a continuing waiver unless
      otherwise expressly provided.

8.7   Choice of Law

      This Agreement is governed by and shall be construed and interpreted in
      accordance with the laws of Austria, without reference or application of
      any conflicts of laws or the United Nations Convention on Contracts for
      the International Sale of Goods. Claims based on this Agreement shall, to
      the exclusion of all other courts non-exclusive jurisdiction of Austrian
      courts might be more advantageous to Ingleby because it would allow them
      to sue at seller's corporate seat; stipulation of jurisdiction subject to
      Art 17 Brussels Convention; finally, we would like to draw your attention
      to the fact that judgements of Austrian courts cannot be enforced in
      Canada (with the exception of the province of British Columbia); we
      therefore propose to replace the provision by an arbitration clause), be
      filed exclusively with the court having jurisdiction for the first
      district of Vienna (depending on the value in dispute the Commercial
      District Court of Vienna ("Bezirksgericht fur Handelssachen Wien") or the
      Commercial Court of Vienna ("Handelsgericht Wien").

        "GEAC Canada Limited"                    "Ingleby (1306) Limited"
--------------------------------------         ------------------------------
         GEAC Canada Limited                      Ingleby (1306) Limited

 "GEAC Computer Corporation Limited"
--------------------------------------
  GEAC Computer Corporation Limited<PAGE>

                                                                    Exhibit 10.7

                             L E A S E  B E T W E E N

                             GUARSEL PARTNERSHIP
                             (Landlord)

                             and

                             GEAC CANADA LIMITED
                             (Tenant)

                             Dated: February 28, 1989
<PAGE>
                                      INDEX

<TABLE>
<CAPTION>
                                                                            PAGE
<S>                                                                         <C>
ARTICLE I Leased Premises, Term And Acceptance Of The Leased Premises..........1
         Section 1.01  Leased Premises.........................................1
         Section 1.02  Use of Additional Areas.................................1
         Section 1.03  Grant and Term..........................................2
         Section 1.04  Rent Free Period........................................2
         Section 1.05  Construction of the Leased Premises.....................2
         Section 1.06  Option to Renew.........................................3

ARTICLE II Rent................................................................4
         Section 2.01  Covenant to Pay.........................................4
         Section 2.02  Basic Rent..............................................4
         Section 2.03  Security Deposit........................................5
         Section 2.04  Rent Past Due...........................................5
         Section 2.05  Net Lease...............................................5

ARTICLE III Taxes And Operating Costs..........................................5
         Section 3.01  Taxes Payable by the Landlord...........................5
         Section 3.02  Taxes Payable by the Tenant.............................5
         Section 3.03  Business Taxes and Other Taxes of the Tenant............6
         Section 3.04  Tenant's Responsibility.................................6
         Section 3.05  Tenant's Proportionate Share of Operating Costs.........7
         Section 3.06  Payment of Taxes and Operating Costs...................10

ARTICLE IV Development - Control And Services.................................10
         Section 4.01  Control of the Building................................10
         Section 4.02  Landlord's Services....................................11

ARTICLE V Utilities...........................................................13
         Section 5.01  Charges for Utilities..................................13

ARTICLE VI Use Of The Leased Premises.........................................14
         Section 6.01  Use of the Leased Premises.............................14
         Section 6.02  Quiet Enjoyment........................................14
         Section 6.03  Observance of Law......................................14
         Section 6.04  Conduct of Business....................................15

ARTICLE VII Insurance And Indemnity...........................................15
         Section 7.01  Tenant's Insurance.....................................15
         Section 7.02  Increase in Insurance Premiums.........................17
         Section 7.03  Cancellation of Insurance..............................18
         Section 7.04  Loss or Damage.........................................18
         Section 7.05  Landlord's Insurance...................................18
         Section 7.06  Indemnification of the Landlord........................19

ARTICLE VIII Maintenance, Repairs And Alterations.............................20
         Section 8.01  Maintenance, Repairs and Alterations
                       by the Tenant..........................................20
         Section 8.02  Landlord's Approval of the Tenant's Repairs
                       and Alterations........................................20
</TABLE>

                                      -i-
<PAGE>
                                     INDEX
                                  (CONTINUED)

<TABLE>
<CAPTION>
                                                                            PAGE
<S>                                                                         <C>
         Section 8.03  Maintenance, Repairs and Alterations
                       by the Landlord........................................21
         Section 8.04  Removal and Restoration by the Tenant..................22
         Section 8.05  Tenant to Discharge all Liens..........................23
         Section 8.06  Signs and Advertising..................................23

ARTICLE IX Damage And Destruction.............................................24
         Section 9.01  Destruction of the Leased Premises.....................24
         Section 9.02  Destruction of the Building............................25
         Section 9.03  Expropriation..........................................25

ARTICLE X Transfer And Sale...................................................26
         Section 10.01 Assignment and Subletting..............................26
         Section 10.02 No Advertising of the Leased Premises..................28
         Section 10.03 Corporate Ownership....................................29
         Section 10.04 Assignment by the Landlord.............................29

ARTICLE XI Access And Alterations.............................................29
         Section 11.01 Right of Entry.........................................29

ARTICLE XII Status Statement, Attornment And Subordination....................30
         Section 12.01 Status Statement.......................................30
         Section 12.02 Subordination and Attornment...........................30
         Section 12.03 Attorney...............................................31
         Section 12.04 Financial Information..................................31

ARTICLE XIII  Default.........................................................31
         Section 13.01 Right to Re-enter......................................31
         Section 13.02 Right to Relet.........................................32
         Section 13.03 Expenses...............................................33
         Section 13.04 Waiver of Exemption from Distress......................33
         Section 13.05 Landlord's Rights......................................33
         Section 13.06 Rent Past Due..........................................34
         Section 13.07 Remedies Generally.....................................34

ARTICLE XIV  Miscellaneous....................................................34
         Section 14.01 Rules and Regulations..................................34
         Section 14.02 Intent and Interpretation..............................34
                  (a)  Net Lease..............................................34
                  (b)  Obligations as Covenants...............................35
                  (c)  Captions and Section Numbers...........................35
                  (d)  Extended Meanings......................................35
                  (e)  Partial Invalidity.....................................35
                  (f)  Entire Agreement.......................................35
                  (g)  Governing Law..........................................36
                  (h)  Time of the Essence....................................36
         Section 14.03 Overholding - No Tacit Renewal.........................36
</TABLE>

                                      -ii-
<PAGE>
                                     INDEX
                                  (CONTINUED)

<TABLE>
<CAPTION>
                                                                            PAGE
<S>                                                                         <C>
         Section 14.04 Successors.............................................36
         Section 14.05 Tenant Partnership.....................................36
         Section 14.06 Waiver.................................................37
         Section 14.07 Accord and Satisfaction................................37
         Section 14.08 Force Majeure..........................................37
         Section 14.09 Notices................................................37
         Section 14.10 Registration...........................................38
         Section 14.11 Directory Board........................................38
         Section 14.12 Accrual of Basic Rent and Additional Rent..............38
         Section 14.13 Compliance with The Planning Act.......................38
         Section 14.14 Inducement to Lease....................................39
         Section 14.15 Option to Lease Additional Premises....................42
         Section 14.16 Right of First Refusal.................................42
         Section 14.17 Right to Relocate......................................43
         Section 14.18 Right to Cancel........................................44
         Section 14.19 Survival of Covenants..................................44
</TABLE>

SCHEDULES AND APPENDICES

SCHEDULE "A"      LEGAL DESCRIPTION OF THE LANDS
SCHEDULE "B"      FLOOR PLAN
SCHEDULE "C"      CONSTRUCTION OF THE LEASED PREMISES
SCHEDULE "D"      METHOD OF FLOOR MEASUREMENT
SCHEDULE "E"      RULES AND REGULATIONS
SCHEDULE "F"      DEFINITIONS
SCHEDULE "G"      PARKING
SCHEDULE "H"      PERSONAL PROPERTY SECURITY AGREEMENT - GEAC
                  CANADA LIMITED
SCHEDULE "I"      PERSONAL PROPERTY SECURITY AGREEMENT - GEAC
                  COMPUTER CORPORATION LIMITED
APPENDIX "A"      INDEMNITY AGREEMENT
APPENDIX "B"      ARCHITECT'S CERTIFICATE

                                     -iii-
<PAGE>
                  THIS LEASE is dated the 28th day of February, 1989.

IN PURSUANCE OF THE SHORT FORM OF LEASES ACT (ONTARIO).

B E T W E E N:

                           GUARSEL PARTNERSHIP

                           (the "Landlord")

                                                    OF THE FIRST PART,

                           -and-

                           GEAC CANADA LIMITED

                           (the "Tenant")

                                                    OF THE SECOND PART.

                                   ARTICLE I
           LEASED PREMISES, TERM AND ACCEPTANCE OF THE LEASED PREMISES

                  WITNESSETH that in consideration of the rents, covenants and
agreements hereinafter reserved and contained on the part of the Tenant, the
Landlord hereby demises and leases to the Tenant, certain premises (the "Leased
Premises") located on the third floor of the Building located off Allstate
Parkway at the intersection of Highways 404 and 7, in the Town of Markham, in
the Province of Ontario, municipally known as 11 Allstate Parkway, and being
more particularly described in Schedule "A" to this Lease.

SECTION 1.01 LEASED PREMISES

                  The approximate location of the Leased Premises to be
completed in accordance with Schedule "C" attached hereto is shown outlined in
red on the Floor Plan attached as Schedule "B". The parties acknowledge and
agree that the Usable Area of the Leased Premises is twenty-four thousand four
hundred and twenty-seven (24,427.00) square feet and the Rentable Area of the
Leased Premises is twenty-five thousand two hundred and eighty-six (25,286)
square feet, as certified by the Architect in accordance with Schedule "D" which
certificate is dated January 23, 1989, and attached hereto as Appendix "B". The
Leased Premises exclude any part of the exterior face of the building.

SECTION 1.02 USE OF ADDITIONAL AREAS

                  The Tenant's use of the Leased Premises includes the
non-exclusive right of the Tenant and persons having business with the Tenant in
common with the Landlord and all others entitled, to the use of those common
Areas and Facilities of the Building as are required incidental to the Tenant's
business operations.
<PAGE>
                                      -2-

SECTION 1.03 GRANT AND TERM

                  The Tenant shall, subject to the other provisions of this
Lease, have and hold the Leased Premises during the term (the "Term"), which is
the period of ten (10) years commencing on May 1, 1989 (the "Commencement Date")
and expiring on April 30,
1999.

SECTION 1.04 RENT FREE PERIOD

                  Notwithstanding anything to the contrary contained herein, the
Tenant shall be entitled to occupy the Leased Premises without any obligation to
pay Basic Rent:

         (a) during the period from and including the day the Tenant is given
possession of the Leased Premises by the Landlord to complete Tenant's Work, to
and including August 31, 1989,

         (b) during the period from and including February 1, 1991, to and
including April 30, 1991,

         (c) during the period from and including February 1, 1992, to and
including April 30, 1992, and

         (d) during the period from and including February 1, 1993, to and
including April 30, 1993,

(collectively the "Rent Free Period") provided that during the Rent Free Period
the Tenant shall be bound by all of the other terms, covenants and conditions
contained in this Lease including, without limitation, all provisions relating
to payment of Additional Rent and the requirements for insurance pursuant to
Article VII and the indemnification of the Landlord for the acts and omissions
of the Tenant during the Rent Free Period.

SECTION 1.05 CONSTRUCTION OF THE LEASED PREMISES

         (a) The Landlord will complete the work designated as "the Landlord's
Work' in accordance with Schedule "C".

         (b) The Tenant will complete the work designated as "the Tenant's Work"
in accordance with Schedule "C", and will pay, as any charges specified in that
Schedule.

         (c) The Landlord may (but shall not be obligated to) give the Tenant
seven (7) days' prior written notice of the date upon which possession of the
Leased Premises will be available to the Tenant (in common with the Landlord and
the Landlord's contractors and employees) with the Landlord's Work (as set out
in Schedule "C") being substantially completed or completed to an extent that
the Tenant's Work can be performed in conjunction with the Landlord's Work. The
Tenant will examine the Leased Premises before taking possession and unless the
Tenant furnishes the Landlord with written notice specifying any defects within
ten (10) days after taking possession, the Tenant will be deemed to have
examined the Leased Premises and to have agreed that they are in good order.
There is no promise, representation or undertaking by or binding upon the
Landlord with respect to any alteration, remodelling or redecorating of or
<PAGE>
                                      -3-

installation of equipment or fixtures in the Leased Premises, unless expressly
set forth in this Lease.

         (d) For greater certainty, during the Rent Free Period, the Tenant will
be bound by all of the terms, covenants and conditions of this Lease (including
the payment of all insurance, electricity, water, temporary heat, security,
refuse removal and other utilities and services furnished to the Tenant or its
contractors by the Landlord or others, and all other Additional Rent) except
those requiring payment of Basic Rent.

         (e) In the event of a dispute as to (i) completion of the Landlord's
Work, or (ii) the availability of the Leased Premises for possession by the
Tenant, or (iii) the Rentable Area of the Leased Premises, or (iv) the Usable
Area of the Leased Premises, a certificate of the Landlord's Architect will be
conclusive and binding upon the parties hereto.

         (f) The Commencement Date will be postponed (and this postponement will
be accepted by the Tenant as full compensation) if there is a delay which
results in the Building or the Landlord's Work not being completed on schedule.
In the event that the Commencement Date is postponed as hereinbefore
contemplated then all relevant dates including relevant dates for the
performance of obligations by the Landlord and the Tenant and the date of
expiration of the Term, shall also be delayed by an equivalent amount of time.

SECTION 1.06 OPTION TO RENEW

                  So long as the Tenant and occupant of the Leased Premises is
GEAC CANADA LIMITED and provided the Tenant is not in default under the terms of
this Lease, the Landlord will grant to the Tenant the option to extend the Term
of this Lease for a further period of five (5) years, on an "as is" basis upon
the same terms and conditions as set out in this Lease, except:

         (i) for Landlord's Work and payment of any allowance to the Tenant,

         (ii) for the provisions of Section 14.16 herein,

         (iii) that there shall be no further right of renewal,

         (iv) that the Tenant shall enter into documentation prepared by the
Landlord to give effect to any such renewal, and

         (v) for the Basic Rent to be paid by the Tenant which shall be the
Landlord's posted rental rate for premises in the Building comparable to the
Leased Premises, but shall in no event be less than the fixed minimum annual
rental payable during the last year of the original Term of this Lease.

                  In order to validly exercise the forgoing option to renew, the
Tenant shall give the Landlord at least six (6) months written notice prior to
the expiration of the original Term of the Lease of its intention to so renew
the term of this Lease, and otherwise such option to renew shall be null and
void. If the Tenant gives the appropriate notice within the time limit set out
<PAGE>
                                      -4-

herein for renewing the term of the Lease, it will forthwith execute the
documentation submitted by the Landlord pursuant to Section 1.06 above.

                                   ARTICLE II
                                      RENT

SECTION 2.01 COVENANT TO PAY

                  The Tenant covenants with the Landlord:

         (a) To pay Basic Rent, and

         (b) To pay, as Additional Rent, it's Proportionate Share of Taxes and
Operating Costs in accordance with the provisions of Article III herein, all
costs and expenses with respect to Utilities as more particularly set out in
Article V; the cost of Landlord's services, if applicable, as more particularly
set out in Section 4.02 herein; and any other costs and expenses as hereinafter
set forth.

SECTION 2.02 BASIC RENT

                  The Tenant will, subject to the provisions of Section 1.04
herein, throughout the Term pay to the Landlord as Basic Rent an annual sum:

         (a) during the period from and including September 1, 1989, to and
including May 31, 1990, based upon an annual rate of Thirteen Dollars ($13.00)
per square foot of the Rentable Area of the Leased Premises;

         (b) during the period from and including June 1, 1990, to and including
May 31, 1991, based upon an annual rate of Fourteen Dollars ($14.00) per square
foot of the Rentable Area of the Leased Premises;

         (c) during the period from and including June 1, 1991, to and including
May 31, 1994, based upon an annual rate of Fifteen Dollars ($15.00) per square
foot of the Rentable Area of the Leased Premises; and

         (d) during the period from and including June 1, 1994, to and including
May 31, 1999, based upon an annual rate of Eighteen Dollars ($18.00) per square
foot of the Rentable Area of the Leased Premises,

payable in consecutive monthly instalments each in advance on the first day of
each calendar month during the aforesaid periods of time. Basic Rent will be
prorated on a daily basis for any fractional month period at the beginning or
end of the Term. When the Rentable Area of the Leased Premises is calculated by
the Landlord, the Basic Rent will if necessary, be adjusted accordingly.

                  The Tenant will deliver to the Landlord at the beginning of
each Rental Year throughout the Term, a series of monthly postdated cheques for
such Rental Year for the
<PAGE>
                                      -5-

aggregate of the monthly payments of Basic Rent and of any payments of
Additional. Rent estimated by the Landlord and any payments required by this
Lease to be paid monthly in advance.

SECTION 2.03 SECURITY DEPOSIT

                  The Tenant has deposited with the Landlord's agent, Royal
LePage Commercial Real Estate Services, Fifty Thousand Dollars ($50,000.00) (the
"Deposit"), in an interest bearing trust account, and which shall be applied on
account of all Rent, including Basic Rent and all Additional Rent, payable by
the Tenant for the first months of the Term.

SECTION 2.04 RENT PAST DUE

                  If the Tenant fails to pay, when the same is due and payable,
any Basic Rent, Additional Rent or other amount payable by the Tenant under this
Lease, such unpaid amounts bear interest from the due date thereof to the date
of payment in full at a rate per annum which is five (5) percentage points in
excess of the minimum lending rate to prime commercial borrowers current at such
time charged by any Canadian chartered bank designated by the Landlord from time
to time.

SECTION 2.05 NET LEASE

                  This Lease is a completely net lease to the Landlord. Except
as stated in this Lease, the Landlord is not responsible for costs, charges, or
expenses relating to the Leased Premises, their use and occupancy, their
contents, or the business carried on in them, and the Tenant will pay the
charges, impositions, costs and expenses relating to the Leased Premises except
as stated in this Lease. This Section will not be interpreted to make the Tenant
responsible for ground rentals that may be payable by the Landlord, payments to
Mortgagees or, subject to Article III, the Landlord's inane taxes. Capital Tax
as defined in Section 3.05(b) is not considered as income tax.

                                  ARTICLE III
                            TAXES AND OPERATING COSTS

SECTION 3.01 TAXES PAYABLE BY THE LANDLORD

                  The Landlord will, subject to Section 3.02, pay directly to
the taxing authority all Taxes for the Building and the Lands. The Landlord may,
nevertheless, defer payment of Taxes to the fullest extent permitted by law, so
long as it diligently prosecutes any contest or appeal of Taxes.

SECTION 3.02 TAXES PAYABLE BY THE TENANT

         (a) The Tenant will pay to the Landlord as Additional Rent, in
accordance with Section 3.06, its Proportionate Share of all Taxes which are
levied or assessed against or in relation to the Building and the Lands.
<PAGE>
                                      -6-

         (b) If the Landlord, acting equitably, determines that as a result of
the construction or installation of improvements in the Leased Premises, the use
of the Leased Premises or the particular location of the Leased Premises within
the Building, the Tenant's Proportionate Share of Taxes does not accurately
reflect the proper share of Taxes which should, in the Landlord's reasonable
opinion, be payable by the Tenant, then the Landlord may, acting equitably and
reasonably, increase or decrease the Tenant's Proportionate Share of Taxes
having regard, to the extent possible, to the assessment principles and methods
properly employed by the assessment authority having jurisdiction and the Tenant
will pay such adjusted amount rather than the Tenant's Proportionate Share as
set out in Section 3.02(a).

         (c) If there is a separate tax bill and assessment for Taxes for the
Leased Premises and the non-leaseable areas of the Building and the lands, the
Tenant will, if the Landlord requests, in lieu of paying its Proportionate
Share, pay all Taxes specified by that separate bill and assessment for Taxes
for the Leased Premises and in accordance with Section 3.06, its Proportionate
share of all Taxes which are levied or assessed against or in relation to the
Building and the lands excluding all portions thereof designated or intended by
the Landlord to be leased to tenants.

SECTION 3.03 BUSINESS TAXES AND OTHER TAXES OF THE TENANT

                  The Tenant will pay to the lawful taxing authorities, or to
the Landlord, as the Landlord directs, all business taxes, personal property
taxes, license fees or other similar rates and assessments levied or assessed
against or in relation to the Tenant's business, assets and improvements in the
Leased Premises or those of any other Person occupying the Leased Premises
(collectively, "Business Taxes"). Business Taxes include all such taxes, fees,
rates and assessments which may in the future be levied against the Landlord on
account of its ownership of or interest in the Building to the extent that the
Landlord is assessed for such Business Taxes in lieu of same being levied or
assessed against the Tenant.

SECTION 3.04 TENANT'S RESPONSIBILITY

                  The Tenant will deliver to the Landlord: (a) receipts for the
payment of all Business Taxes; (b) notices of any assessments of Business Taxes;
and (c) any additional information in connection with Business Taxes which the
Landlord reasonably requests; in each case, within five (5) days after request
by the Landlord. In addition, the Tenant will deliver to the Landlord, at least
ten (10) days prior to the last day permitted for filing an appeal, notice of
any appeal or contestation which the Tenant intends to institute with respect to
Taxes or Business Taxes, and the Tenant will consult with the Landlord and
obtain the prior written approval of the Landlord with respect to any appeal or
contestation. If the Tenant obtains such approval, the Tenant will deliver to
the Landlord such security for the payment of Taxes and Business Taxes as the
Landlord deems advisable and the Tenant will diligently prosecute any such
appeal or contestation to a speedy resolution and will keep the Landlord
informed of his progress in that regard, from time to time. The Tenant will
indemnify and hold the Landlord harmless from and against the payment of all
losses, costs, charges and expenses, including any increase in Taxes or Business
Taxes relating to the Leased Premises or the Building, which arise directly or
indirectly
<PAGE>
                                      -7-

out of any appeal or contestation by the Tenant. The Tenant will deliver to the
Landlord such security for any increase in Taxes and Business Taxes as the
Landlord deems advisable.

SECTION 3.05 TENANTS PROPORTIONATE SHARE OF OPERATING COSTS

         (a) The Tenant will pay, in accordance with Section 3.06, the Tenant's
Proportionate Share of Operating Costs. Operating Costs include, without
limitation and without duplication, the aggregate of:

         (i)      the total annual costs and expenses of insuring the Lands, the
                  Building and the improvements and equipment and other property
                  servicing the Building from time to time, owned or operated by
                  the Landlord or for which the Landlord is legally liable, in
                  such manner and form, with such companies and such coverage
                  (including, without limitation, insurance covering loss of
                  insurable gross profits) and in such amounts as the Landlord,
                  or the Mortgagee, from time to time determines:

         (ii)     cleaning (including window cleaning), snow removal, garbage
                  and waste collection and disposal, including those costs
                  referred to in Section 4.02(c), and the costs of security and
                  supervision;

         (iii)    the aggregate of the costs and amounts paid for (1) all fuel
                  used in heating; (2) all electricity furnished by the Landlord
                  to the Building other than electricity furnished to and paid
                  for by tenants; (3) all hot and cold water other than that
                  chargeable to tenants by reason of their extraordinary
                  consumption of water; (4) heating, air-conditioning and
                  ventilating the Building including individual premises; (5)
                  telephone and other utility costs, used in the maintenance and
                  operation of the Building; and (6) installing energy
                  conservation equipment and safety or life support systems in
                  any portion of the Building;

         (iv)     salaries, wages and other amounts paid or payable for all
                  personnel including the Building manager and related staff,
                  superintendent, operating and maintenance staff, including
                  contributions and premiums towards fringe benefits,
                  unemployment and Workmen's Compensation insurance, pension
                  plan contributions and similar premiums and contributions and
                  the total charges of any independent contractors or managers
                  engaged in the repair, care, maintenance and cleaning of the
                  Building and any portion of the Lands;

         (v)      the cost of the rental of any equipment and the cost of
                  supplies, used by the Landlord in the maintenance and
                  operation of the Building and the Lands;

         (vi)     audit fees and the cost of accounting services incurred in the
                  computation of the rents and charges payable by tenants of the
                  Building;
<PAGE>
                                      -8-

         (vii)    all repairs (including major repairs) and replacements to and
                  maintenance and operation of the Building, and the systems,
                  facilities and equipment serving the Building;

         (viii)   Capital Taxes, if any, as defined in Paragraph (b) of this
                  Section 3.05 as they relate to or are attributed by the
                  Landlord to the Building and the Lands, provided it is
                  understood that if there is no Capital Tax levied against the
                  Landlord in respect of the Building then the provisions of
                  this subparagraph 3.05(a)(viii) shall not apply until such
                  time as Capital Tax is levied;

         (ix)     depreciation or amortization of (1) the costs and expenses
                  including repair and replacement, of all maintenance and
                  cleaning equipment and master utility meters and all other
                  fixtures, equipment and facilities servicing or comprising the
                  Building (including, without limitation, the heating,
                  ventilating, air-conditioning systems serving the Building)
                  which by their nature, require periodic or substantial repair
                  or replacement, unless, pursuant to Paragraph 3.05(a)(vii),
                  they are charged fully in the Rental Year in which they are
                  incurred, in accordance with sound accounting principles, and
                  (2) the costs of improvements properly charged to capital
                  account which substantially reduce Operating Costs, amortized
                  over their useful life, as determined by the Landlord in
                  accordance with sound accounting principles;

         (x)      interest calculated at 2 percentage points above the average
                  daily prime bank commercial lending rate charged during such
                  Rental Year by the Landlord's chartered bank upon the
                  undepreciated portion of the original cost of all fixtures,
                  equipment and facilities referred to in Paragraph 3.05(a)(ix);

         (xi)     a fee of four percent (4%) of the total annual costs set out
                  in this Section 3.05 for the administration and management of
                  the Building and the Lands.

Notwithstanding the Tenant's obligations to pay operating Costs under this
Section 3.05, it is understood and agreed that the Tenant shall not be obligated
to pay for the following, save and except for damages caused by any wilful act
or omissions or negligence on the part of the Tenant:

                  (1)      any cost or expense incurred by the Landlord in
                           connection with the original initial construction of
                           the Building, including the initial construction of
                           all structural elements and installation of the
                           heating, ventilating and air-conditioning system;

                  (2)      any cost, expenses, repairs or replacements to the
                           extent necessitated by the inherent structural
                           defects or weaknesses, or faulty construction or
                           design; and

                  (3)      any cost and expense which is normally treated in
                           accordance with generally accepted accounting
                           principles as being of a capital nature
<PAGE>
                                      -9-

                           (having regard to the usual practice for similar
                           commercial buildings) subject, however, to the
                           Tenant's obligation to pay its Proportionate Share of
                           depreciation and amortization pursuant to Section
                           3.05(a)(ix)x; and

                  (4)      any cost or expense incurred in connection with major
                           repairs or replacements to the structural elements of
                           the Building, including the foundations, structural
                           floor, bearing walls supporting or surrounding the
                           Building, or the roof, but specifically excluding the
                           roof membrane, any finished surfaces of the aforesaid
                           structural elements, and any other portions of the
                           structural elements which by their nature require
                           periodic repair and replacement which are not covered
                           by any warranties held by the Landlord.
                           Notwithstanding the foregoing, it is understood and
                           agreed the Tenant shall be liable for its
                           Proportionate Share of the on-going maintenance,
                           repair and replacement costs incurred by the Landlord
                           in respect of structural elements of the Building
                           insofar as such maintenance, repairs and replacements
                           relate to the general day-to-day upkeep and
                           maintenance of the Building.

From the total of the above costs, there is deducted

                  (aa)     all net recoveries which reduce Operating Costs
                           received by the Landlord from tenants as a result of
                           any act, omission, default or negligence of such
                           tenants or by reason of a breach by such tenants of
                           provisions in their respective leases (other than
                           recoveries from such tenants under clauses in their
                           respective leases requiring their contribution to
                           Operating Costs); and

                  (bb)     net proceeds received by the Landlord from insurance
                           policies taken out by the Landlord to the extent that
                           the proceeds relate to Operating Costs.

         (b) Capital Tax is an imputed amount presently or hereafter imposed
from time to time upon the Landlord or the Owners of the Building and Lands and
payable by the Landlord or the owners of the Building and Lands (or by any
corporation acting on behalf of the Landlord or the owners) and which is levied
or assessed against the Landlord or the owners on account of its ownership of or
capital employed in the Building and the Lands. Capital Tax will be imputed as
if the amount of such tax were that amount due if the Building and the lands
were the only real property of the Landlord and the Owners and Capital Tax
includes the amount of any capital or place of business tax levied by the
provincial government or other applicable taxing authority against the Landlord
with respect to the Building and the Lands whether or not known as Capital Tax
or by any other name.

         (c) The Tenant acknowledges that the Total Rentable Area of the
Building may contain a retail commercial area on the ground floor of the
Building in addition to the office area of the Building. The Landlord, acting
equitably, will adjust the Operating Costs pursuant to this Paragraph in
accordance with reasonable and current practices relevant to a multi-use
commercial building to include a reasonable proportion of the expenses incurred
by or on behalf of retail and other tenants in the Building who, by agreement
with the Landlord, or otherwise,
<PAGE>
                                      -10-

have undertaken cleaning, maintenance work or other outlays usually performed by
the Landlord to the extent that those expenses if directly carried out by the
Landlord would have been included in Operating Costs. It is the intent that
office tenants will not be charged unfairly for services the Landlord may
provide to any retail tenant which are more costly to perform.

SECTION 3.06 PAYMENT OF TAXES AND OPERATING COSTS

         (a) The amounts payable by the Tenant under Sections 3.02 and 3.05 (and
Section 3.03, if applicable) may be estimated by the Landlord for such period as
the Landlord determines from time to time, and the Tenant agrees to pay the
Landlord the Tenant's Proportionate Share as so estimated, of such amounts in
monthly instalments in advance during such period as Additional Rent. The
Landlord's estimates may be revised from time to time and as soon as the
Landlord has received bills for Taxes and Operating Costs, the Landlord may bill
the Tenant for the Tenant's Proportionate Share thereof, and the Tenant will pay
the amounts billed less all amounts previously paid by the Tenant in accordance
with the estimates.

         (b) Within a reasonable period of time after the end of the period for
which the estimated payments have been made, the Landlord will determine and
advise the Tenant of the exact amount of the Tenant's Proportionate Share of
Taxes and Operating Costs, and if necessary, an adjustment will be made between
the parties within thirty (30) days after the Tenant has been advised of the
actual amounts.

                                   ARTICLE IV
                       DEVELOPMENT - CONTROL AND SERVICES

SECTION 4.01 CONTROL OF THE BUILDING

         (a) The Landlord will operate and maintain the Building in such manner
as the Landlord determines from time to time, and in a first-class manner as
would a prudent Landlord of a similar office building having regard to size, age
and location.

         (b) The Building and the lands are at all times subject to the
exclusive control, management and operation of the Landlord. The Landlord has
the right, in its control, management and operation of the Building and the
Lands, to perform all acts which, in the use of good business judgement, the
Landlord determines advisable for the efficient and proper operation of the
Building and the Lands. This includes without limitation;

         (i)      obstructing or closing off all or any part of the Building for
                  the purpose of maintenance, repair or construction:

         (ii)     employing all personnel necessary for the operation of the
                  Building. The Tenant acknowledges that the Building may be
                  managed by any Person designated by the Landlord;

         (iii)    constructing other improvements on the Lards and making
                  alterations, additions, subtractions or re-arrangements to the
                  various facilities and improvements
<PAGE>
                                      -11-

                  comprising the Building or erected on the lands, including
                  building additional storeys and constructing facilities
                  adjoining or proximate to the Building, including parking
                  facilities, underground tunnels and pedestrian walkways and
                  overpasses; and

         (iv)     with the consent of the Tenant, not to be unreasonably
                  withheld, re-locating or re-arranging the Leased Premises from
                  that shown on Schedule "B". The Tennant acknowledges that the
                  sole purpose of Schedule "B" is to show the approximate
                  location of the Leased Premises;

         (v)      do and perform such other acts in and to the Building as in
                  the use of good business judgment, the Landlord determines to
                  be advisable for the more efficient and proper operation of
                  the Building:

         (vi)     control, supervise and regulate any parking facilities which
                  may be used in conjunction with the Building in such manner as
                  the Landlord determines from time to time, including, without
                  limitation, imposing charges or rates as may from time to time
                  be determined by the Landlord for the use of such parking
                  facilities.

         (c) Notwithstanding anything contained in this Lease, it is understood
and agreed that if as a result of the exercise by the Landlord of its rights set
out in this Section 4.01, the facilities in or improvements to the Building are
diminished or altered in any manner whatsoever, or the Leased Premises are
relocated or rearranged in any manner whatsoever, the Landlord is not subject to
any liability; nor is the Tenant entitled to any compensation diminution or
abatement of Basic Rent or Additional Rent; nor is any alteration; or diminution
of the facilities or improvements in or to the Building (including, the Leased
Premises) deemed a breach of any covenant for quiet enjoyment contained in this
Lease or implied by law.

SECTION 4.02 LANDLORD'S SERVICES

         (a) The Landlord will provide climate control to the Leased Premises
during Normal Business Hours to maintain a climate adequate for occupancy. The
Landlord will have no responsibility or liability for failure to supply a
climate control service when stopped for temporary repairs or maintenance or by
strikes or causes beyond the Landlord's reasonable control. The Tenant
acknowledges that the Landlord has installed in the Building a system for the
purpose of climate control, which system is designed to heat and cool during
normal occupancy of the Leased Premises as general offices on the basis of one
(1) person to every one hundred (100) square feet of space on an open floor
basis and based on the window shading being fully closed in those offices having
exterior windows exposed to the sun, without having regard to the Tenant's
specific use or the installation in the Leased Premises of any heat generating
equipment. Any use of the Leased Premises not in accordance with the design
standards or any arrangement of partitions which interferes with the normal
operation of such system may require alterations in the system or ducts. Any of
these alterations, if they can be accommodated by the Landlord's equipment, will
be made (i) by the Tenant (or, at the Landlord's option, by the Landlord), (ii)
in either case, at the Tenant's expense and only with the Landlord's prior
written consent, and (iii) in accordance with drawings and specifications and by
<PAGE>
                                      -12-

a contractor first approved in writing by the Landlord. If installation of
partitions, equipment or fixtures by or on behalf of the Tenant (other than the
partitions installed pursuant to the Landlord's Work as set out in Schedule "C")
necessitates the rebalancing of the portion of the climate control equipment
installed in the Leased Premises, such work will be performed by the Landlord at
the Tenant's expense, together with an amount equal to fifteen percent (15%) of
the total expenses thereof representing the Landlord's overhead, payable by the
Tenant upon demand as Additional Rent. The Tenant acknowledges that one (1) year
may be required after the Tenant has fully occupied the Leased Premises in order
to properly adjust and balance the climate control system.

                  If the Tenant requests the provision of climate control
services to the Leased Premises after Normal Business Hours, the Landlord will
provide such services to the Tenant at the Tenant's expense at the rate
determined by the Landlord in its sole discretion, having regard to reasonable
and current practices relevant to a similar multi-use commercial building,
payable by the Tenant upon demand.

         (b) The Landlord will furnish, except temporarily when repairs are
being made, elevator service during Normal Business Hours, in common with
others. At least one (1) elevator will be operated at all times after Normal
Business Hours.

         (c) The Landlord shall when reasonably necessary from time to time
cause the floors to be swept, the windows to be cleaned and the desks, tables
and other furniture of the Tenant to be dusted, all in keeping with a
first-class office building. However, with the exception of the obligation to
cause such work to be done, the Landlord shall not be responsible for any act or
omission or commission on the part of the Persons employed to perform such work
and such work shall be done at the Landlord's direction without interference by
the Tenant and its servants or employees.

         (d) The Landlord will make water and electricity available in the
normal quantities. If the Tenant's equipment requires utilities in excess of
normal quantities, facilities to supply the excess quantities, if available,
may, at the Landlord's sole option, be provided by the Landlord at the expense
of the Tenant, with this expense payable as Additional Rent subject to the
following conditions and provided that:

         (i)      the Landlord's electrical engineer or other consultants
                  determines that such excess facilities are so required by the
                  Tenant's equipment;

         (ii)     it is within the capabilities of the Landlord and the existing
                  structure of the Building to provide such excess utilities;

         (iii)    the Landlord will have the right of refusal to supply such
                  excess utilities if the supplying of additional facilities or
                  utilities stall in any way affect the operation, the
                  aesthetics or the structure of the Building, or in any way
                  reduce the efficiency of existing electricity, water or other
                  utilities supplied to the Building; and
<PAGE>
                                      -13-

         (iv)     the supplying of such additional facilities will be subject to
                  compliance with all provisions of law including, without
                  limitation, federal and provincial legislative enactments,
                  building by-laws and other governmental or municipal
                  regulations.

                                   ARTICLE V
                                    UTILITIES

SECTION 5.01 CHARGES FOR UTILITIES

         (a) The Tenant will pay to the Landlord, or as the Landlord otherwise
directs, as Additional Rent, the aggregate, without duplication of (except to
the extent not separately metered in respect to the Leased Premises and the
Tenant is billed directly by the utilities supplier): (i) all electricity,
water, steam charges and other utility charges applicable to the Leased Premises
on the basis of the Rentable Area of the Leased Premises (the "Utilities"); (ii)
the cost of any other charges levied or assessed in lieu of or in addition to
such Utilities as determined by the Landlord, acting reasonably; and (iii) all
costs incurred by the Landlord in determining or allocating the charge for
Utilities including, without limitation, professional engineering and consulting
fees and an administration fee of fifteen percent (15%) of the total cost of
such Utilities. The Landlord will be entitled, acting equitably, to allocate to
the Leased Premises an additional charge, as determined by the Landlord or the
Landlord's engineer, for the excess supply to, and usage of, water, electricity,
steam and other Utilities in the Leased Premises in excess of the standard usage
of general office premises in the Building.

                  Charges for Utilities will be paid in equal monthly
instalments in advance on the basis of an initial rate determined by the
Landlord's engineers. If the public utility rate is increased or decreased
during the Term, the charges will be equitably adjusted and the decision of the
Landlord, acting reasonably, will be final. The Tenant will, in addition, pay
for all costs of supplying Utilities to the Leased Premises after Normal
Business Hours as determined by the Landlord's engineers.

         (b) The Landlord will have the exclusive right to attend to any
replacement of electric light bulbs, tubes and ballasts in the Leased Premises
throughout the Term on the basis determined by the Landlord in accordance with
good commercial practice. The Tenant will pay a monthly charge (subject to
adjustment based on actual costs) per bulb, tube and ballast on account of the
cost of replacement. If the Landlord elects not to relamp and reballast, then
the replacement of electric light bulbs, tubes and ballasts in the Leased
Premises will be undertaken by the Landlord at such time as they actually burn
out and after notice from the Tenant that replacement is required. In that
event, the cost of replacement and installation will be paid by the Tenant
within 5 days after invoicing.

         (c) The Tenant shall pay for the cost of any metering which the Tenant
requests the Landlord to install in the Leased Premises or the Building, or
which the Landlord wishes to install in the Building, for the purpose of
assisting in determining the consumption of any Utility (including electricity
and water) in the Leased Premises or which may be required by the Landlord to
measure or estimate any excess usage of electricity, water or other Utility.
<PAGE>
                                      -14-

         (d) The Tenant will pay for any costs or expenses in respect of the
Leased Premises resulting from use of equipment necessitating a dedicated
circuitry or specialized power requirement.

                                   ARTICLE VI
                           USE OF THE LEASED PREMISES

SECTION 6.01 USE OF THE LEASED PREMISES

                  The Leased Premises will be used solely for the purpose of
general offices and training facility, provided such purposes comply with the
terms, covenants and conditions of this Lease and with all applicable laws,
by-laws, regulations or other governmental ordinances from time to time in
existence. The Tenant acknowledges that it is only one of the many tenants in
the Building and accordingly will conduct its business in the Leased Premises in
a reputable and first-class manner, and in the best interests of the Building as
a whole. Any business, conduct or practice carried on by the Tenant which in the
Landlord's reasonable opinion may harm the business or reputation of the
Landlord or reflect unfavourably on the Building or its tenants, will be
immediately discontinued by the Tenant at the request of the Landlord.

SECTION 6.02 QUIET ENJOYMENT

                  If the Tenant pays the Basic Rent and Additional Rent and
observes and performs all its terms, covenants and conditions, contained in this
Lease, the Tenant will peaceably and quietly hold and enjoy the Leased Premises
for the Term hereby demised without hindrance or interruption by the Landlord,
or any other Person lawfully claiming by, through or under the Landlord, unless
otherwise permitted under the terms of this Lease. The Tenant acknowledges that
the exercise by the Landlord of any of the rights conferred on the Landlord
under this Lease will not be deemed to be a constructive or actual eviction of
the Tenant and will not be considered to be a breach of the Landlord's covenant
for quiet enjoyment.

SECTION 6.03 OBSERVANCE OF LAW

                  The Tenant will, at its expense, and subject to Section 8.02:

         (a) comply with all provisions of law including, without limitation,
all statutes, regulations, by-laws, ordinances and other requirements of
municipal, provincial, federal and other governmental bodies, agencies or
departments, which now or hereafter pertain to or affect the Leased Premises or
require or govern the making of any repairs, alterations, improvements or other
changes of or to the Leased Premises or the Tenant's use of it;

         (b) obtain all necessary permits, licenses and approvals relating to
the use of the Leased Premises and the conduct of business therein, including,
without limitation, those required under the Business Corporations Act (Ontario)
and The investment Canada Act (Canada); and
<PAGE>
                                      -15-

         (c) carry out all modifications, alterations or changes of or to the
Leased Premises and the Tenant's conduct of business in or use of the Leased
Premises which are required by any such authorities as set out herein;

         (d) co-operate with the Landlord in, and comply with the Landlord's
requests and with all laws, by-laws, regulations and orders relating to, the
conservation of all forms of energy serving the Building.

SECTION 6.04 CONDUCT OF BUSINESS

                  The Tenant shall occupy the Leased Premises from and after the
Commencement Date and thereafter throughout the Term shall conduct continuously
and actively the business set out in Section 6.01 hereof in the whole of the
Leased Premises. In the conduct of the Tenant's business pursuant to this Lease,
the Tenant shall:

         (a) own, install in the Leased Premises and keep in good order and
             condition, free from liens or rights of third parties, only
             fixtures and equipment of first-class quality:

         (b) not permit or allow any odours, vapours, steam, water, vibrations,
             noises or other undesirable effects to emanate from the Leased
             Premises or any equipment or installation therein which, in the
             Landlord's opinion, are objectionable or cause any interference
             with the safety, comfort or convenience of the Building by the
             Landlord or any occupants thereof or their customers or invitees.
             If the Tenant is in default of any of the forgoing, the Landlord
             shall have the right to verbally inform the Tenant's manager in the
             Leased Premises thereof, whereupon the Tenant shall forthwith (i)
             take such steps as are necessary to cure any such default, and (ii)
             cease selling the offending item or items, as the case may be.

                  Any business, conduct or practice promulgated, carried on or
maintained by the Tenant, whether thorough advertising or selling procedures or
otherwise, which in the opinion of the Landlord, acting reasonably, may harm or
tend to harm the business or reputation of the Landlord or reflect unfavourably
on the Building, the Landlord or other tenants in the Building, or which may
tend to confuse, mislead, deceive or be fraudulent to the public, shall be
immediately discontinued by the Tenant at the request of the Landlord.

                                  ARTICLE VII
                             INSURANCE AND INDEMNITY

SECTION 7.01 TENANT'S INSURANCE

         (a) The Tenant will, throughout the Term (and at any other time during
which the Tenant is in possession of the Leased Premises), at its expense, take
out and keep in full force and effect the following insurance:
<PAGE>
                                      -16-

         (i)      all risks (including flood and earthquake) property insurance,
                  in an amount equal to the full replacement cost (new) of all
                  improvements, equipment and chattels in or serving the Leased
                  Premises or for which the Tenant is legally liable;

         (ii)     extra expense insurance in such amount as will reimburse the
                  Tenant for loss attributable to all perils insured against in
                  Section 7.01(a)(i) inclining prevention of access to the
                  Leased Premises or the Building as a result of such perils;

         (iii)    if applicable, broad form boiler and machinery insurance on a
                  blanket repair and replacement basis with limits for each
                  accident in an amount of not less than the replacement cost
                  (new) of all leasehold improvements and of all boilers,
                  pressure vessels, air-conditioning equipment and miscellaneous
                  electrical apparatus owned or operated by the Tenant or by
                  others (other than the Landlord) on behalf of the Tenant in
                  the Leased Premises, or relating to or serving the Leased
                  Premises;

         (iv)     public liability and property damage insurance, including
                  personal injury liability, blanket contractual liability,
                  employers' liability, occurrence property damage and owners'
                  and contractors' protected insurance coverage, with the
                  coverage to include the activities and operations of the
                  Tenant and any other person on the Leased Premises or
                  performing work for the Tenant and all others for whom the
                  Tenant is in law responsible in any other part of the Building
                  and the Lands. The policies will,

                  (1)      be written on a comprehensive basis with inclusive
                           limits of not less than two million dollars
                           ($2,000,000) for bodily injury to any one or more
                           persons, or property damage, and such higher limits
                           as the Landlord, acting reasonably, or the Mortgagee
                           requires from time to time; and

                  (2)      name the Landlord, the Owners and the Mortgagee as
                           insureds and contain severability of interest and
                           cross-liability clauses;

         (v)      broad form Tenant's legal liability insurance for the actual
                  cash value of the Leased Premises, including loss of use
                  thereof;

         (vi)     two million dollars ($2,000,000) inclusive limits automobile
                  liability insurance on a non-owned form including contractual
                  liability, and on an owner's form, covering all licensed
                  vehicles operated by or on behalf of the Tenant; and

         (vii)    any other form of insurance as the Tenant or the Landlord,
                  acting reasonably, or the Mortgagee requires from time to time
                  in form, in amounts and for insurance risks against which a
                  prudent tenant would insure.

         (b)      The Tenant's policies will:

         (i)      with respect to leasehold improvements, contain the
                  Mortgagee's standard mortgage clause;
<PAGE>
                                      -17-

         (ii)     with respect to property and extra expense insurance, name the
                  Landlord as an insured and contain a waiver of any subrogation
                  rights which the Tenant's insurers may have against the
                  Landlord and those for whom the Landlord is in law
                  responsible, whether the damage is caused by the act, omission
                  or negligence of the Landlord or those for whoa the Landlord
                  is in law responsible;

         (iii)    be taken out with insurers reasonably acceptable to the
                  Landlord and in a form reasonably satisfactory to the
                  Landlord;

         (iv)     be non-contributing with and apply only as primary and not as
                  excess to any other insurance available to the Landlord, the
                  Owners or the Mortgagee;

         (v)      not be invalidated as respects the interests of the Landlord,
                  the Owners, and the Mortgagee by reason of any breach or
                  violation of any warranties, representations, declarations or
                  conditions contained in the policies; and

         (vi)     contain an undertaking by the insurers to notify the Landlord,
                  the owners, and the mortgagee in writing by registered mail
                  not less than thirty (30) days prior to any cancellation or
                  material change that reduces or restricts the insurance.

                  The Tenant agrees that certificates of insurance on the
Landlord's standard form or, if required by the Mortgagee, evidence in the form
of notarized, certified copies of the policies signed by the insurers, will be
delivered to the Landlord as soon as practicable after the placing of the
required insurance.

         (c) If there is damage or destruction to the leasehold improvements in
the Leased Premises, the Tenant will use the insurance proceeds for the sole
purpose of repairing or restoring the leasehold improvements. In the event of
damage to or destruction of the Building entitling the Landlord to terminate
this Lease under Section 9.02, then, if the Leased Premises have also been
damaged or destroyed, the Tenant will forthwith pay the Landlord all of its
insurance proceeds relating to the leasehold improvements, and if the Leased
Premises have not been damaged or destroyed, the Tenant shall upon demand
deliver to the Landlord, in accordance with this Lease, the leasehold
improvements and the Leased Premises. In the event that the Tenant's insurance
proceeds exceed Seven Hundred and Fifty Thousand Dollars ($750,000.00) and the
Tenant is obligated in accordance with the terms of this Lease to repair and
restore the Premises, and the cost of such repairs and restoration, subject to
the approval of the Landlord, acting reasonably, is an amount greater than Seven
Hundred and Fifty Thousand Dollars ($750,000.00) but less than the Tenant's
proceeds, the Tenant shall retain the balance.

SECTION 7.02 INCREASE IN INSURANCE PREMIUMS

                  If (a) the occupancy of the Leased Premises; (b) the conduct
of business in the Leased Premises; or (c) any acts or omissions of the Tenant
in the Building or the Leased Premises causes or results in any increase in
premiums for the insurance carried from time to time by the Landlord with
respect to the Building, the Tenant will pay the increase in premiums within
five (5) days after invoices for additional premiums are rendered by the
Landlord.
<PAGE>
                                      -18-

SECTION 7.03 CANCELLATION OF INSURANCE

                  If any insurance policy in respect of the Building is
cancelled or threatened by the insurer to be cancelled, or the coverage reduced
by the insurer by reason of the use and occupation of the Leased Premises and if
the Tenant fails to remedy the condition giving rise to cancellation, threatened
cancellation or reduction of coverage within forty-eight (48) hours after notice
by the Landlord, the Landlord may, at its option, either (a) exercise its rights
of re-entry including termination under Article XIII, or (b) at the Tenant's
expense, enter upon the Leased Premises and remedy the condition giving rise to
the cancellation, threatened cancellation or reduction.

SECTION 7.04 LOSS OR DAMAGE

                  None of the Landlord, the Owners, or the Mortgagee is liable
for any death or injury arising from or out of any occurrence in, upon, at, or
relating to the Building or the lands or damage to property of the Tenant or of
others wherever located, whether or not resulting from (a) the negligence of the
Landlord or those for whom it may in law be responsible, (b) the exercise by the
Landlord of any of its rights under this Lease, or (c) by Landlord's failure to
supply any services, facilities or utilities required by this Lease. This
exculpation of the Landlord from liability extends to and includes all damages,
direct, indirect or consequential, damages for personal discomfort, illness or
inconvenience, and any death, injury or damage to property or other loss
resulting from any cause, including without limitation, fire, explosion, falling
plaster, falling ceiling tile, falling ceiling fixtures and diffuser coverings,
steam, gas, electricity, water, rain, flood, snow or leaks from any part of the
Building, including pipes, sprinklers, appliances, plumbing works, roofs,
windows or the sub-surface of any floor or ceiling of the Building or from any
lands adjoining the Building. The intent of this Section is that the Tenant (and
all other Persons having business with the Tenant) is to look solely to its
insurers to satisfy any claim which may arise on account of death, injury, loss
or damage, irrespective of its cause, except with respect to any inherent
structural defects or weaknesses.

                  Notwithstanding anything contained in this Section 7.04 to the
contrary, it is understood and agreed that the Landlord is liable for any such
death or injury or any such damage to property referred to in this Section 7.04
if any such death or injury or any such damage to property is caused by or to
the extent contributed to by the wilful acts or negligence of the Landlord, but
only to the extent that (1)(i) the Tenant is not required to have insurance
coverage pursuant to Section 7.01(a) of this Lease; and (ii) the Tenant does not
otherwise have insurance coverage for any such death or injury or any such
damage to property: in any case without taking into account any deductible or
co-insurance provisions or clauses; and (2) the Landlord is indemnified by its
insurers for any such death or injury or any such damage to property.

SECTION 7.05 LANDLORD'S INSURANCE

                  The Landlord shall at all times throughout the Term carry: (i)
insurance on the Building (including the foundations and excavations) and the
equipment contained in or servicing the Building and owned by the Landlord, or
the owners (specifically excluding any
<PAGE>
                                      -19-

property with respect to which the Tenant and other tenants are obliged to
insure pursuant to Section 7.01 or similar sections of their respective leases)
against damage by "All Risks"' perils, and comprehensive boiler and machinery
coverage in such reasonable amounts and with such reasonable deductions as would
be carried by a prudent owner of a reasonably similar office building, having
regard to size, age and location: (ii) public liability and property damage
insurance with respect to the Landlord's operations in the Building: and (iii)
other forms of insurance considered advisable by the Landlord, the Owners and
the Mortgagee, in each case, in such reasonable amounts and with such reasonable
deductions as would be carried by a prudent owner of a reasonably similar office
building.

                  Notwithstanding the Landlord's covenant contained in this
Section 7.05 and notwithstanding the Tenant's contribution to the cost of the
Landlord's insurance premiums, the Tenant acknowledges and agrees (1) the Tenant
is not relieved of any liability arising from or contributed to by its
negligence or its wilful acts or omissions, (2) no insurable interest or other
benefit (including an implied waiver of subrogation from the Landlord's
insurers) is conferred upon the Tenant under the Landlord's insurance policies,
and (3) the Tenant has no right to receive proceeds from the Landlord's
insurance policies.

                  The Landlord's policies will contain a waiver of any
subrogation rights which the Landlord's insurers may have against the Tenant and
those for whom the Tenant is in law responsible, whether the damage is caused by
the act, omission or negligence of the Tenant or those the Tenant is in law
responsible, for that portion of any claim in excess of the greater of (i) Two
Million Dollars ($2,000,000.00) or (ii) the limits of insurance in the
comprehensive general liability policy actually carried by the Tenant. The
foregoing waiver of subrogation rights does not apply, however, to damage
arising from the wilful or grossly negligent acts of the Tenant.

SECTION 7.06 INDEMNIFICATION OF THE LANDLORD

                  Notwithstanding any other terms, covenants and conditions
contained in this Lease, the Tenant will indemnify the Landlord and save it
harmless from and against all loss (including loss of rentals), claims, actions,
damages, costs, liability and expense in connection with loss of life, personal
injury, damage to property (including any portion of the Building and its
equipment, machinery, services and improvements) or any other loss or injury
whatsoever arising from or out of this Lease, or any occurrence in the Leased
Premises, or the Tenant's occupancy of the Leased Premises or the Building, or
occasioned wholly or in part by any act or omission of the Tenant or by anyone
permitted to be on the Leased Premises or the Building by the Tenant. If the
Landlord is, without fault on its part, made a party to any litigation commenced
by or against the Tenant, then the Tenant will protect, indemnify and hold the
Landlord harmless and pay all expenses and reasonable legal fees incurred or
paid by the Landlord in connection with the litigation. The Tenant will also pay
all costs, expenses and legal fees (on a solicitor and his client basis) that
may be incurred or paid by the Landlord in enforcing the terms, covenants and
conditions in this Lease.
<PAGE>
                                      -20-

                                  ARTICLE VIII
                      MAINTENANCE, REPAIRS AND ALTERATIONS

SECTION 8.01 MAINTENANCE, REPAIRS AND ALTERATIONS BY THE TENANT

         (a) The Tenant will at all times, at its expense, maintain the whole of
the Leased Premises including without limitation, all interior partitions,
signs, doors, fixtures, shelves, equipment and appurtenances thereof and
improvements thereto, including without limitation, electrical, lighting,
wiring, plumbing fixtures and equipment and the heating, ventilating and
air-conditioning systems and equipment within or exclusively serving the Leased
Premises in good order, first-class condition and repair excluding performance
of the repairs or replacements required to the structural elements of the Leased
Premises which are the responsibility of the Landlord pursuant to Section 8.03
herein (which shall include, without limitation, periodic painting and
decoration), as determined by the Landlord, and the Tenant will make all needed
repairs and replacements with due diligence and dispatch.

         (b) The Tenant will leave the Leased Premises in a reasonably tidy
condition at the end of each Business Day in order that the Landlord's cleaning
services can be performed.

         (c) The Tenant will pay for the cost of replacement of glass broken on
the Leased Premises including outside windows and doors of the perimeter of the
Leased Premises.

         (d) At the expiration or earlier termination of the Term, the Tenant
will surrender the Leased Premises to the Landlord in as good a condition as the
Tenant is required to maintain them throughout the Term.

SECTION 8.02 LANDLORD'S APPROVAL OF THE TENANT'S REPAIRS AND ALTERATIONS

                  The Tenant will not make any repairs, alterations,
replacements, decorations or improvements ("Alterations") to any part of the
Leased Premises without first obtaining the Landlord's written approval. The
Tenant will submit to the Landlord: (a) details of the proposed work including
professionally prepared drawings and specifications, (b) any indemnification
against liens which the Landlord reasonably requires; and (c) evidence
satisfactory to the Landlord that the Tenant has obtained, at its expense, all
necessary consents, permits, licenses and inspections from all governmental and
regulatory authorities having jurisdiction. All Alterations will be performed:
(i) at the Tenant's expense; (ii) by competent workmen whose labour union
affiliations are compatible with others employed by the Landlord and its
contractors; (iii) in a good and workmanlike manner; (iv) in accordance with the
drawings and specifications approved by the Landlord; and (v) subject to the
reasonable regulations, controls and inspection of the Landlord.

                  Any Alterations made by the Tenant without the prior consent
of the Landlord or not made in accordance with the drawings and specifications
approved by the Landlord will, if requested by the Landlord, be promptly removed
by the Tenant at the Tenant's expense and the Leased Premises restored to their
previous condition. Failing such removal, the Landlord will be entitled to
remove any Alterations forthwith without notice and at the Tenant's expense. In
any
<PAGE>
                                      -21-

event, no Alterations may be permitted if the Landlord determines that they may
weaken or endanger the structure of the Building, adversely affect the condition
or operation of or diminish the value of the Building, affect the Landlord's
coverage for zoning purposes or cause the Landlord to buy out or provide
additional parking spaces.

                  If however, the proposed Alterations or any of them affect any
part of the structure of the Building or any of the electrical, mechanical or
other base building systems, the Alterations (or the appropriate portion of
them) will be performed only by the Landlord, at the Tenant's expense, and the
Tenant will promptly reimburse the Landlord for the cost of the Alterations
(including architectural and other consulting fees) plus 15% of the total cost
representing the Landlord's overhead.

SECTION 8.03 MAINTENANCE, REPAIRS AND ALTERATIONS BY THE LANDLORD

         (a) The Landlord will, subject to Section 8.01 and Article IX, maintain
and repair the structure of the Building, including, without limitation, the
foundations, exterior wall assemblies including weather walls, sub-floor, roof,
bearing walls, and structural columns and beams of the Building and the
mechanical, electrical and other base building systems of the Building, as would
a prudent owner of a similar office building. The cost of this will be included
in Operating Costs. However, if the Landlord is required, due to the business
carried on by the Tenant, to make structural repairs or replacements by reason
of the application of laws, ordinances or other regulations of any governmental
body, or by reason of any act, omission or default of the Tenant or those for
whom the Tenant is in law responsible, then the Tenant will be liable for the
total cost of those repairs or replacements plus 15% of the total cost
representing the Landlord's overhead.

         (b) The Tenant acknowledges and agrees that subject to the provisions
of Section 7.04, as amended, the Landlord is not liable for any damages, direct,
indirect or consequential, or for damages for personal discomfort, illness or
inconvenience of the Tenant or the Tenant's servants, clerks, employees,
invitees or other Persons by reason of (i) the failure, cessation or
interruption of any Utilities, equipment, facilities or systems servicing the
Building or the Leased Premises, (whether or not supplied by the Landlord
others), or (ii) reasonable delays in the performance of any repairs,
replacements and maintenance for which the Landlord is responsible pursuant to
this Lease. The Landlord covenants and agrees to complete any of its work as
expeditiously as possible in the circumstances.

         (c) If the Tenant refuses or neglects to carry out any repairs as
required pursuant to Section 8.01, and to the reasonable satisfaction of the
Landlord, the Landlord may, but will not be obliged to, make such repairs
without being liable for any loss or damage that may result to the Tenant's
equipment, fixtures or other property or to the Tenant's business by reason
thereof, and upon completion, the Tenant will pay to the Landlord as Additional
Rent upon demand, the Landlord's costs relating to any such repairs and a sum
equal to 15% thereof representing the Landlord's overhead.

         (d) If any elevator servicing the Building or if any mechanical or base
building equipment, facilities or systems are damaged or destroyed or are in
need of repair, the Landlord
<PAGE>
                                      -22-

will have a reasonable time in which to make the required repairs or
replacements necessary for the resumption of the services to the Leased Premises
(to the extent of the Landlord's obligations under this Lease), and the Tenant
is not entitled to any compensation or damages, but if any of the foregoing
items had became impaired, damaged or destroyed in any of the circumstances
referred to in section 8.03(c), then the Tenant will be responsible for the cost
of repairing, restoring, or making good the damage in accordance with the
provisions of Section 8.03(c).

         (e) If the Building or any part of it, or any equipment, machinery,
facilities or improvements of the Building, or the roof or outside walls of the
Building or any other structural portions of the Building require repair or
replacement or become damaged or destroyed through the negligence, carelessness,
misuse or other act of the Tenant or those for whom the Tenant is in law
responsible, or by any Person having business with the Tenant, or by the Tenant
or those for whom it is in law responsible in any way stopping up or damaging
the climate control, heating apparatus, water pipes, drainage pipes or other
equipment or facilities or parts of the Building, then the cost of the resulting
repairs, replacements, or alterations plus a sum equal to 15% of the cost will
be paid by the Tenant to the Landlord upon demand after presentation of an
account.

         (f) If any equipment installed by the Tenant requires additional
utility, electrical or mechanical facilities, the Landlord may, in its sole
discretion, if they are available, elect to install them at the Tenant's expense
and in accordance with plans and specifications to be approved in advance in
writing by the Landlord.

SECTION 8.04 REMOVAL AND RESTORATION BY THE TENANT

         (a) All alterations, decorations, additions and improvements made by
the Tenant, or made by the Landlord on the Tenant's behalf (other than the
Tenant's trade fixtures) immediately become the property of the Landlord upon
affixation or installation, without compensation therefor to the Tenant, and
will not be removed from the Leased Premises at any time unless permitted or
required by the Landlord. The Landlord is under no obligation to repair,
maintain or insure these alterations, decorations, additions or improvements.
The Tenant will, at the expiration or earlier termination of the Term, at its
cost, remove those leasehold improvements and fixtures which the Landlord
requires the Tenant to remove and will make good any damage to the Leased
Premises or the Building resulting from their installation or removal.

         (b) The Tenant may during the Term in the normal course of its business
and with the prior written consent of the Landlord remove its trade fixtures,
but only if they have become excess for the Tenant's purposes or the Tenant is
substituting new and similar trade fixtures, and in each case, only when the
Tenant is not in default under the Terms of this Lease. At the expiration or
earlier termination of the Term, the Tenant will, at its own cast, remove all of
its trade fixtures and will make good any damage to the Leased Premises or the
Building caused as a result of their installation or removal. If the Tenant does
not remove its trade fixtures at the end or earlier termination of the Term, the
trade fixtures will, at the Landlord's option, become the property of the
Landlord and may be removed from the Leased Premises and sold or disposed of by
the Landlord in such manner as it deems advisable.
<PAGE>
                                      -23-

         (c) For greater certainty, the Tenant's trade fixtures exclude: (i)
heating, ventilating or air-conditioning systems, facilities and equipment; (ii)
floor covering affixed to the floor of the Leased Premises; (iii) light
fixtures; (iv) internal stairways and doors, if any; and (v) any fixtures,
facilities, equipment or installations installed by or at the expense of the
Landlord pursuant to Schedule "C"; all of which are deemed to be leasehold
improvements.

SECTION 8.05 TENANT TO DISCHARGE ALL LIENS

                  The Tenant shall promptly pay all of its contractors and
others supplying materials or performing work on its behalf in respect of the
Leased Premises and will do all things necessary to ensure that no lien is
registered against the Lands, Building or the Tenant's leasehold interest. If
any construction or similar lien is made, filed or registered against title to
the Lands (or part of it), the Building or against the Tenant's leasehold
interest, as a result of any work, materials or services supplied or performed
by or on behalf of the Tenant or otherwise in respect of the Leased Premises,
the Tenant will discharge it forthwith at the Tenant's expense. If the Tenant
fails to discharge the lien, then in addition to any other right or remedy of
the Landlord, the Landlord may elect to discharge the lien by paying the amount
claimed to be due, and any additional amounts as may be required at law or
otherwise, into Court or directly to the lien claimant and the amount paid by
the Landlord and all costs and expenses including all solicitor's fees (on a
solicitor and his client basis) incurred as a result of the lien including
without limitation procuring its discharge will be immediately paid by the
Tenant to the Landlord.

SECTION 8.06 SIGNS AND ADVERTISING

                  The Tenant will not place or permit any notice, lettering or
other signage on any part of the outside of the Building or the Leased Premises
or anywhere in the interior of the Leased Premises which is visible from the
outside of the Building or the Leased Premises. The Landlord will prescribe a
uniform pattern of identification signs for tenants in accordance with the
Landlord's design criteria for the Building which shall be placed by the
Landlord at the Tenant's expense on the outside of either the interior walls or
doors leading into the Leased Premises.

                  The Tenant acknowledges and agrees that the Landlord is member
of the Valleywood Business Park and is bound by certain covenants with the
Valleywood Business Park including the requirement that all signage either on
the outside of the Building, or on the Common Elements and Facilities of the
Building, or visible from the outside of the Building, is subject to the prior
written approval of the Valleywood Business Park. So long as the Tenant and
occupant of the Leased Premises is GEAC CANADA LIMITED and the Tenant leases as
at the commencement of Tenant's Work (as defined under schedule "C" attached
hereto) a minimum of Twenty-One Thousand (21,000) square feet, then, if
permitted by the Valleywood Business Park and the governmental authorities
having jurisdiction, it being understood and agreed that the Landlord shall use
all reasonable efforts to obtain any approvals necessary for such signage from
the Valleywood Business Park, the Tenant shall be entitled to identification of
its tenancy on the outside facia of the Building so long as such signage shall
be installed; (a) subject to the prior written approval of the Valleywood
Business Park, (b) subject to the Tenant obtaining at its
<PAGE>
                                      -24-

expense, all necessary consents, permits and inspections from all municipal and
other applicable governmental authorities having jurisdiction, (c) at the sole
cost of the Tenant, (d) in a good and workmanlike manner of materials and in a
method of installation approved by the Landlord, in writing, (e) in a location
and of a size and design approved by the Landlord and the Valleywood Business
Park, in writing, (f) in accordance with drawings and specifications approved by
the Landlord and the Valleywood Business Park, in writing, and (g) such signage
shall otherwise be subject to the provisions of this Section 8.06 and Schedule
"C" attached to this Lease, where applicable. It is further understood and
agreed that the Tenant shall be responsible for the on-going operation,
insurance, maintenance and repair of any such signage at its sole cost and
expense and that the Tenant shall abide by the rules and regulations of the
Valleywood Business Park and any governmental authorities having jurisdiction
with respect to same. The Landlord may require, at its sole option, that all
maintenance and repair to be done in respect of any such signage by the Tenant
will be carried out by the Landlord's contractors and employees at the Tenant's
expense and repayable by the Tenant to the Landlord as Additional Rent with the
next monthly instalment of Basic Rent coming due.

                  If requested by the Landlord, the Tenant shall enter into an
agreement, as prepared by the Landlord at the Tenant's expense, to document
further the terms and conditions of its exterior signage permitted in accordance
with the terms of this Section 8.06.

                  At the expiration of this Lease, the Landlord, or the Tenant,
at the Landlord's request, will remove all signs installed by or on behalf of
the Tenant and all pictures, advertisements, notices, letterings or decorations
from the Leased Premises, at the Tenant's expense and the Tenant will promptly
repair all damage caused by their installation and removal.

                                   ARTICLE IX
                             DAMAGE AND DESTRUCTION

SECTION 9.01 DESTRUCTION OF THE LEASED PREMISES

         (a) If the Leased Premises are destroyed or damaged as a result of fire
or other casualty required to be insured against by the Landlord pursuant to
Section 7.05 or otherwise insured against by the Landlord and not caused by the
Tenant, and if as a result of such occurrence:

         (i)      the Leased Premises are rendered wholly or partially
                  untenantable, this Lease will continue in full force and
                  effect and the Landlord will commence diligently to restore
                  the Leased Premises to the extent only of the Landlord's Work
                  set out in Schedule "C', and only Basic Rent (but not
                  Additional Rent) will abate entirely or proportionately, as
                  the case may be, to the portion of the Leased Premises
                  rendered untenantable from the date of the destruction or
                  damage until the Leased Premises have been restored and
                  rendered tenantable by the Landlord to the extent of its
                  obligations hereunder;

         (ii)     the Leased Premises are not rendered untenantable in whole or
                  in part, this Lease will continue in full force and effect,
                  the Rent and other amounts payable by the
<PAGE>
                                      -25-

                  Tenant will not abate and the Landlord will commence
                  diligently to restore the Leased Premises to the extent
                  required by this Section 9.01(a).

         (b) Notwithstanding Section 9.01(a), if the Leased Premises are damaged
or destroyed by any cause whatsoever, and if, in the opinion of the Landlord
reasonably arrived at, the Leased Premises cannot be rebuilt or made fit for the
purposes of the Tenant within 90 days of the damage or destruction, the
Landlord, instead of rebuilding or making the Leased Premises fit for the Tenant
in accordance with section 9.01(a) may, at its option, elect to terminate this
Lease by giving the Tenant, within 30 days after the damage or destruction,
notice of termination, and thereupon Rent and any other payments for which the
Tenant is liable under this Lease will be apportioned and paid to the date of
damage or destruction.

         (c) Once the Landlord has substantially completed its restoration work,
the Tenant will forthwith complete all work required to fully restore the Leased
Premises for business. Nothing in this Section 9.01 requires the Landlord to
rebuild the Leased Premises in the condition and state that existed before the
damage, but the Leased Premises, as re-built, will have reasonably similar
facilities and services to those in the Leased Premises prior to the damage.

SECTION 9.02 DESTRUCTION OF THE BUILDING

         (a) Notwithstanding Section 9.01, if 25% or more of the Total Rentable
Area of the Building is damaged or destroyed (irrespective of whether the Leased
Premises are damaged or destroyed) and if, in the opinion of the Landlord
reasonably arrived at, the damaged or destroyed parts of the Building cannot be
rebuilt or made fit for the purposes of the respective tenants of the space
within 90 days of the damage or destruction, then, the Landlord may, at its
option (to be exercised by written notice to the Tenant within 60 days following
the occurrence), elect to terminate this Lease. In the case of such election,
the Term and the tenancy hereby created will expire upon the thirtieth (30th)
day after such notice is given, without indemnity or penalty payable by, or any
other recourse against, the Landlord, and the Tenant shall, within such thirty
(30) day period, vacate and surrender the Leased Premises to the Landlord. Basic
Rent and Additional Rent will be payable without reduction or abatement
subsequent to the destruction or damage and until the date of termination,
unless the Leased Premises has been destroyed or damaged as well, in which event
Section 9.01 will apply.

         (b) If any part of the Building is destroyed or damaged and the
Landlord does not elect to terminate this Lease, the Landlord will commence
diligently to restore that part of the Building damaged or destroyed, but only
to the extent of the Landlord's responsibilities pursuant to the terms of the
various leases for the premises in the Building, and exclusive of any tenant's
responsibilities set out therein. If the Landlord elects to restore the
Building, or any part thereof, the Landlord may restore according to plans and
specifications and working drawings other than those used in the original
construction of the Building.

SECTION 9.03 EXPROPRIATION

                  Both the Landlord and the Tenant agree to co-operate with the
other regarding an expropriation of the Leased Premises or the Building or any
part thereof, so that each may
<PAGE>
                                      -26-

receive the maximum award to which they are respectively entitled at law. To the
extent that any portion of the Building other than the Leased Premises is
expropriated, then, the full proceeds accruing or awarded as a result will
belong to the Landlord and the Tenant will abandon or assign to the Landlord any
rights which the Tenant may have or acquire by operation of law to those
proceeds or awards and will execute all such documents as in the opinion of the
Landlord are necessary to give effect to this intention.

                                   ARTICLE X
                                TRANSFER AND SALE

SECTION 10.01 ASSIGNMENT AND SUBLETTING

         (a) The Tenant will not: (i) assign this Lease, (ii) sublet, share or
part with possession of all or any part of the Leased Premises, nor (iii)
mortgage or encumber this Lease or the Leased Premises, to or in favour of any
Person (collectively, a "Transfer") without the prior written consent of the
Landlord and the owners which consent will not be unreasonably or arbitrarily
withheld or delayed. However, notwithstanding any statutory provisions to the
contrary, it will not be considered unreasonable for the Landlord and the Owners
to take into account the following factors in deciding whether to grant or
withhold its consent:

                  (1)      whether any such Transfer violates or breaches is
                           contrary any covenants or restrictions granted by the
                           Landlord to other existing or prospective tenants or
                           occupants of the Building or to Mortgagees, the
                           Owners or other parties, regardless of when given;

                  (2)      whether in the Landlord's opinion the financial
                           background, business history and capability of the
                           Transferee is satisfactory;

                  (3)      whether any such Transferee intends to actually use
                           and occupy the Leased Premises in accordance with the
                           terms of this Lease; and

                  (4)      whether the Tenant is in default under the terms,
                           covenants and conditions of the Lease.

The consent by the Landlord and the Owners to any Transfer will not constitute a
waiver of the necessity for consent to any subsequent Transfer. This restriction
against a Transfer includes a prohibition against a Transfer by operation of
law, including without limitation, an amalgamation. No Transfer will take place
by reason of a failure by the Landlord to give notice to the Tenant within
thirty (30) days as required by Section 10.01(b) and the Landlord shall be
deemed to have withheld its consent to any such Transfer.

         (b) If the Tenant intends to effect a Transfer, then the Tenant will
give prior written notice to the Landlord of such intent, specifying the
proposed assignee, subtenant, occupant or other Person taking the Transfer
(collectively, a "Transferee") and providing such information with respect
thereto including, without limitation, information concerning the principals
thereof and as to any credit, financial or business information relating to the
proposed Transferee, as the
<PAGE>
                                      -27-

Landlord, the Owners or the Mortgagee require. The Landlord will, within 30 days
after having received notice and all necessary information, notify the Tenant in
writing that the Landlord and the owners consent or do not consent to the
Transfer in accordance with the provisions and qualifications of section
10.01(a), or (ii) notwithstanding the provisions of Section 10.01(a), it elects
to cancel this Lease in preference to giving consent. If the request for consent
relates to only a part of the Leased Premises, the Landlord's rights to cancel
this Lease will relate only to such part and in this event the Tenant will, at
its expense, arrange for the partitioning of the Leased Premises so as to
separate the part being Transferred froth the remainder of the Leased Premises.
If the Landlord elects to cancel this Lease, the Tenant will notify the Landlord
in writing within fifteen (15) days thereafter of the Tenant's intention either
to refrain from such Transfer or to accept the cancellation of this Lease. If
the Tenant fails to deliver notice within the fifteen (15) day period, this
Lease will be terminated upon the expiration of the fifteen (15) day period. If
the Tenant advises the Landlord it intends to refrain from such Transfer, the
Landlord's election to cancel this Lease will became null and void in such
instance.

         (c) The Landlord acknowledges that the Tenant has leased in excess of
its own space requirements for the purpose of subletting a portion of the Leased
Premises to dealers of the Tenant for the sauce use permitted under Section 6.01
of this Lease. The Landlord therefore covenants and agrees that so long as the
Tenant and occupant of the Leased Premises is GEAC CANADA LIMITED and has not
failed or neglected to remedy or commenced to remedy any default or breach of
its obligations as set out in this Lease after notice within the times set forth
in this Lease, then the Landlord's right to cancel this Lease as provided under
this Section 10.01(b) shall not apply and the Tenant shall have the right to
sublet a portion of the Leased Premises to a sublessee of the Tenant as
aforesaid, upon first obtaining the consent of the Landlord and the Owners,
which consent may not be unreasonably withheld, based upon the criteria set out
in subparagraphs (1) through (4) of Section 10.01(a) and, for greater certainty,
all of the other provisions of this Article X shall apply in respect of any such
Transfer, except Subsection 10.01(e).

         (d) If there is a permitted Transfer, the Landlord may collect Rent
from the Transferee, and apply the net amount collected to the Rent required to
be paid pursuant to this Lease, but no acceptance by the Landlord of any
payments by a Transferee will be a waiver of this covenant, or the acceptance of
the Transferee as the Tenant, or a release of the Tenant from the further
performance by the Tenant of its covenants or obligations contained in this
lease. Any document evidencing the Transfer will be prepared by the Landlord or
its solicitors, and all legal costs with respect thereto will be paid by the
Tenant to the Landlord or its solicitors within five (5) days after demand as
Additional Rent. Any consent by the Landlord and the owners will be subject to
the Tenant executing and causing the Transferee to promptly execute an agreement
directly with the Landlord agreeing (i) to be bound by all of the terms,
covenants and conditions contained in this Lease as if the Transferee had
originally executed this Lease as Tenant; and (ii) to amend the Lease to
incorporate such terms, covenants and conditions as are necessary so that the
Lease will be in accordance with the Landlord's standard form of office lease in
use for the Building at such time. Notwithstanding any Transfer, the Tenant will
be jointly and severally liable with the Transferee on this Lease and will not
be released from performing any of the terms, covenants and conditions of this
Lease. If the Tenant shall receive from any Transferee of
<PAGE>
                                      -28-

this Lease, either directly or indirectly, any consideration for the Transfer of
this lease, either in the form of cash, goods, services or otherwise (excluding
any consideration for the Tenant's trade fixtures and business goodwill), the
Tenant shall forthwith pay an amount equivalent to such consideration to the
Landlord and such consideration shall be deemed to be further Additional Rent
hereunder. In the event of any Transfer which is a sublet of the Leased Premises
by the Tenant by virtue of which the Tenant receives a rent in the form of cash,
goods or services from the Transferee which is greater than the Rent payable
hereunder to the Landlord, the Tenant will pay any such excess to the Landlord
in addition to all Rent payable under this Lease and such excess rent shall be
deemed to be further Additional Rent.

         (e) If the Tenant receives consent under Section 10.01(a), it will be
subject to the condition that the Basic Rent payable by the Transferee to the
Landlord will be not less than the greatest of:

         (i)      the Basic Rent payable pursuant to Section 2.02; or

         (ii)     the Landlord's current posted rental rate for Leased Premises
                  in the Building similar to the Leased Premises at the time of
                  the granting of the Landlord's consent; or

         (iii)    an amount equal to the Basic Rent payable pursuant to Section
                  2.02 increased to equal the amount obtained by multiplying the
                  Basic Rent by a fraction which has its numerator the C.P.I.
                  for the last month immediately preceding any such Transfer and
                  as its denominator the C.P.I. for the month in which the
                  commencement date occurs.

                  The Tenant and the Transferee shall promptly execute an
agreement prepared by the Landlord or its solicitors amending Section 2.02 in
order to provide for the payment of tine revised Basic Rent during the remainder
of the Term or the term of the Transfer, whichever is applicable, and all legal
costs with respect thereto will be paid by the Tenant to the Landlord within
five (5) days after demand. All of the other terms, covenants and conditions of
this Lease stall remain as herein specified.

                  Notwithstanding the foregoing, there shall be no increase in
the Basic Rent in the event of a Transfer permitted in accordance with the terms
of Section 10.01(c).

SECTION 10.02 NO ADVERTISING OF THE LEASED PREMISES

                  The Tenant will not print, post, display or broadcast any
notice of advertisement for the purpose of a Transfer, and it will not permit
any broker or other Person to do any of the foregoing, unless the complete text
and format of any such notice or advertisement is first approved in writing by
the Landlord. In no event, will any text or format proposed by the Tenant
contain any reference to the rental rate of the Lease Premises.
<PAGE>
                                      -29-

SECTION 10.03 CORPORATE OWNERSHIP

         (a) If the Tenant is a corporation or if the Landlord has consented to
a Transfer of this Lease to a corporation, any transfer or issue by sale,
assignment, bequest, inheritance, operation of law or other disposition, or by
subscription from time to time of all or any part of the corporate shares of the
Tenant or of any holding body corporate or subsidiary body corporate of the
Tenant or any corporation which is affiliated with the Tenant (as those terms
are defined pursuant to the Canada Business Corporations Act and amendments
thereto), which results in any change in the present effective voting control of
the Tenant by the person holding such voting control at the date of execution of
this Lease (or at the date a Transfer of this Lease to a corporation is
permitted) will for the purposes of this Section 10.03, be deemed to be a
Transfer and the provisions of Sections 10.01(a) to 10.01(e), inclusive, will
apply to a Transfer under this Section 10.03.

         (b) The Tenant will (i) when requesting consent to a Transfer pursuant
to Section 10.03(a), provide the Landlord with such information as to the
proposed purchaser as the Landlord requires including, without limitation,
information concerning creditworthiness, financial standing and business
history; and (ii) make available to the Landlord, or its lawful.
representatives, all corporate books and records of the Tenant for inspection at
all reasonable times, in order to ascertain whether there has been any change in
control of the Tenant.

         (c) However, this Section 10.03 shall not apply to the Tenant if the
Tenant is a public corporation whose shares are traded and listed on any
recognized stock exchange in Canada or the United States, and so long as the
Landlord receives assurances satisfactory to the Landlord that there will be a
continuity of management, of the Tenant, and of its business practices and
policies, notwithstanding any such Transfer pursuant to section 10.03(a).

SECTION 10.04 ASSIGNMENT BY THE LANDLORD

                  If there is a sale, lease or other disposition by the Landlord
of the Building and/or the Lands or any part thereof, or the assignment by the
Landlord of this Lease or any interest of the Landlord hereunder, and to the
extent that the purchaser or assignee assumes the covenants and obligations of
the Landlord hereunder, the Landlord will, thereupon and without further
agreement, be relieved of all further liability with respect to its covenants
and obligations.

                                   ARTICLE XI
                             ACCESS AND ALTERATIONS

SECTION 11.01 RIGHT OF ENTRY

                  The Landlord and its agents have the right to enter the Leased
Premises at all reasonable times (except in the event of an emergency, when the
Landlord can enter at any time) to show them to prospective purchasers, lessees
or mortgagees, and to examine them and make repairs, alterations or changes to
the Leased Premises or the Building as the Landlord considers necessary
including, without limitation, repairs, alterations or changes to the pipes,
conduits, wiring, ducts and other installations in the Leased Premises where
necessary to serve another
<PAGE>
                                      -30-

part of the Building. For that purpose, the Landlord may take all required
material into the Leased Premises and may have access to the underfloor ducts
and access panels to mechanical shafts and the Landlord has the right to check,
calibrate, adjust and balance controls and other parts of the heating,
ventilating and air-conditioning. The Rent will not abate while any repairs,
alterations or changes are being made due to loss or interruption of the
business of the Tenant or otherwise, and subject to the provisions of Section
7.04, as amended, the Landlord will not be liable for any damage, injury or
death caused to any Person, or to the property of the Tenant or of others
located on the Leased Premises as a result of the entry. If the Tenant is not
present to permit an entry into the Leased Premises at the time that the entry
is necessary, then the Landlord may, in the case of an emergency, forcibly enter
the Leased Premises to exercise its rights order this Section.

                                  ARTICLE XII
                 STATUS STATEMENT, ATTORNMENT AND SUBORDINATION

SECTION 12.01 STATUS STATEMENT

                  Within ten (10) days after written request by the Landlord,
the Tenant will deliver in a form supplied by the Landlord, a status statement
or a certificate (which will be certified by the Tenant to be accurate) to any
proposed purchaser, assignee, lessor or mortgagee, or to the Landlord, which
will contain such acknowledgements and information as is customarily called for
in status statements and estoppel certificates delivered in conjunction with
commercial tenancies together with any additional acknowledgements and
information as any proposed purchaser, assignee, lessor or mortgagee requires.

SECTION 12.02 SUBORDINATION AND ATTORNMENT

         (a) This Lease and the Tenant's rights hereunder are, and will at all
times be, subordinate to any and all ground or underlying leases, mortgages,
trust deeds, financing, refinancing or collateral financing and the instruments,
as well as the charge or lien resulting from, all or any of the foregoing or any
renewals or extensions thereof from time to time in existence against the Lands
and the Building (or part thereof) (collectively, the "Encumbrances"). Upon
request, the Tenant will subordinate this Lease and all of its rights hereunder
in such form as the Landlord requires to any Encumbrance and, if requested, the
Tenant will attorn to the holder of any such Encumbrance (the "Encumbrancer") or
to the Owner.

         (b) The Tenant will, if possession is taken under, or any proceedings
are brought for possession under or the foreclosure of, or in the event of the
exercise of the power of sale under, any Encumbrance, attorn to the Encumbrancer
or the purchaser upon any such foreclosure, sale or other proceeding and
recognize the Encumbrancer or the purchaser as the Landlord under this Lease.

         (c) Upon the written request of the Tenant, the Landlord shall use its
reasonable efforts to obtain at the Tenant's expense an agreement from the
permanent financing Mortgagee(s) of the Building to the effect that upon the
execution and delivery by the Tenant to the Landlord of the Lease, if the Tenant
shall pay the Rent and comply with all terms and
<PAGE>
                                      -31-

conditions contained in the Lease and attorn to the permanent financing
Mortgagee(s), the Tenant shall be permitted to remain in quiet possession of the
Leased Premises without interruption or disturbance from the permanent financing
Mortgagee(s); or, at the option of the permanent financing Mortgagee(s), shall
be entitled to obtain a new lease for the unexpired Term of the Lease, on the
same terms and conditions as contained in the Lease. The Tenant shall (i)
promptly execute such documents as may be required by the Landlord to give
effect to the foregoing, and (ii) indemnify the Landlord from and against all
costs, including legal costs incurred by the Landlord in connection with
obtaining and preparing any such documents.

SECTION 12.03 ATTORNEY

                  The Tenant will, upon request of the Landlord or any
Encumbrancer, execute and deliver promptly any statements, instruments and
certificates required to carry out the intent of Sections 12.01 or 12.02. If
thirty (30) days after the date of a request by the Landlord, the Tenant has not
executed the same, the Tenant hereby irrevocably appoints the Landlord as the
Tenant's attorney with full power and authority to execute and deliver in the
name of the Tenant any such statements, instruments or certificates, or the
Landlord may, at its option, terminate this Lease without incurring any
liability on account thereof, and the Term hereby granted is expressly limited
accordingly.

SECTION 12.04 FINANCIAL INFORMATION

                  The Tenant will, upon request from time to time, provide the
Landlord with such information as to the Tenant's or the Indemnifier's financial
standing and corporate organization as the Landlord or the Mortgagee reasonably
requires.

                                  ARTICLE XIII
                                     DEFAULT

SECTION 13.01 RIGHT TO RE-ENTER

                  If and whenever:

         (a)      the Tenant fails to pay any Basic Rent or Additional Rent on
                  the day or dates appointed for payment (provided the Landlord
                  first gives five (5) days' written notice to the Tenant of the
                  Tenant's failure); or

         (b)      the Tenant fails to observe or perform any other of the terms,
                  covenants or conditions of this Lease to be observed or
                  performed by the Tenant (other than the terms, covenants or
                  conditions set out below in subparagraph (c) for which no
                  notice shall be required), provided the Landlord first gives
                  the Tenant ten (10) days', or such shorter period of time as
                  is otherwise provided in this Lease, written notice of the
                  Tenant's failure and the Tenant within the 10 day period fails
                  to commence diligently and thereafter to proceed diligently to
                  cure its failure; or
<PAGE>
                                      -32-

         (c)      the Tenant or any Indemnifier becomes bankrupt or insolvent or
                  takes the benefit of any act now or hereafter in force for
                  bankrupt or insolvent debtors or files any proposal or makes
                  any assignment for the benefit of creditors or any arrangement
                  or compromise; a receiver or a receiver manager is appointed
                  for all or a portion of the Tenant's or the Indemnifier's
                  property; any steps are taken or any action or proceedings are
                  instituted by the Tenant or by any other party to dissolve,
                  wind-up or liquidate of the Tenant or its assets; the Tenant
                  makes a sale in bulk of its assets on the Leased Premises
                  other than a bulk sale to a permitted Transferee in compliance
                  with the Bulk Sales Act (Ontario); the Tenant abandons the
                  Leased Premises, or sells or disposes of the trade fixtures,
                  goods or chattels of the Tenant or remove them from the Leased
                  Premises so that there would not in the event of such sale or
                  disposal be sufficient trade fixtures, goods or chattels of
                  the Tenant on the Leased Premises subject to distress to
                  satisfy all Rent due or accruing hereunder for a period of at
                  least three (3) months; the Leased Premises become and remain
                  vacant for a period of five (5) consecutive days; the Tenant
                  effects or permits a Transfer without the Landlord's consent
                  where required; this Lease or any of the Tenant's assets are
                  taken under any writ of execution; or re-entry is permitted
                  under any other terms of this Lease,

then the Landlord, in addition to any other rights or remedies available to it,
has the immediate right of re-entry upon the Leased Premises and it may
repossess the Leased Premises and enjoy them as of its former estate and may
expel all Persons and remove all property from the Leased Premises and such
property may be removed and sold or disposed of by the Landlord as it deems
advisable or may be stored in a public warehouse or elsewhere at the cost and
for the account of the Tenant, all without service of notice or resort to legal
process and without the Landlord being considered guilty of trespass or becoming
liable for any loss or damage which may be occasioned thereby.

SECTION 13.02 RIGHT TO RELET

         (a) If the Landlord elects to re-enter the Leased Premises, or if it
takes possession pursuant to legal proceedings or pursuant to any notice
provided for by law, it may either terminate this Lease or it may without
terminating this Lease make any alterations and repairs as are necessary in
order to relet the Leased Premises. Upon each reletting all rent received by the
Landlord will be applied, first to the payment of any indebtedness other than
Basic Rent or Additional Rent due hereunder from the Tenant to the Landlord;
second, to the payment of any costs and expenses of reletting including
brokerage fees and solicitor's fees and the costs of alterations and repairs;
third, to the payment of Basic Rent and Additional Rent due and unpaid
hereunder; and the residue, if any, will be held by the Landlord and applied in
payment of future Rent as it becomes payable hereunder. If the rent received
from a reletting during any month is less than that payable by the Tenant under
the terms of this Lease, then the Tenant will pay the deficiency in advance on
the first day of each month. No re-entry or taking possession of the Leased
premises will be construed as an election on its part to terminate this Lease
unless a written notice of that intention is given to the Tenant.
Notwithstanding any reletting without
<PAGE>
                                      -33-

termination, the Landlord may at any time thereafter terminate this Lease for
the previous breach.

         (b) If the Landlord terminates this Lease, in addition to other
remedies available, it may recover from the Tenant all damages the Landlord
incurs by reason of the Tenant's breach, including the cost of recovering the
Leased Premises, all solicitor's fees (on a solicitor and his client basis) and
including the worth at the time of the termination of the excess, if any, of the
amount of Basic Rent and Additional Rent required to be paid pursuant to this
Lease for the remainder of the stated Term over then reasonable rental value of
the Leased Premises for the remainder of the stated Term, all of which amounts
will be immediately due and payable by the Tenant to the Landlord. On the
occurrence of any of the events referred to in Section 13.01, in addition to all
other rights, the full amount of the current month's instalment of Basic Rent
and Additional Rent payments for the current month and any other payments
required to be made monthly hereunder, together with the next three (3) months'
instalments of Basic Rent and Additional Rent for the next three (3) months, all
of which will be deemed to be accruing due on a day-to-day basis, will
immediately become due and payable as accelerated rent, and the Landlord may
immediately distrain for the same, together with any arrears then unpaid.

SECTION 13.03 EXPENSES

                  If legal action is brought for recovery of possession of the
Leased Premises, for the recovery of Basic Rent and Additional Rent or any other
amount due under this Lease, or because of the breach of any other of the
Tenant's obligations, the Tenant will pay to the Landlord all expenses incurred
therefor, including solicitors fees (on a solicitor and his client basis),
unless a court otherwise awards.

SECTION 13.04 WAIVER OF EXEMPTION FROM DISTRESS

                  The Tenant agrees that notwithstanding anything contained in
Section 30 of the Landlord and the Tenant Act (Ontario), or any statute or
provision subsequently passed to take the place of or amend the Act, none of the
goods and chattels of the Tenant which are on or have at any time been on the
Leased Premises will be exempt from levy by distress for Basic Rent or
Additional Rent in arrears by the Tenant.

SECTION 13.05 LANDLORD'S RIGHTS

                  If the Tenant fails to pay when due any Rent which is payable
to third parties, the Landlord, after giving ten (10) days' notice in writing to
the Tenant, may, but will not be obligated to, pay all or any part of the same.
If the Tenant is in default in the performance of any of its other covenants or
obligations under this Lease, including without limitation, (a) the Tenant's
insurance obligations under Article VII, and (b) the Tenant's maintenance and
repair obligations under Article VIII, the Landlord may, but will not be
obligated to, after giving such notice as it considers sufficient (or without
notice in the case of an emergency), perform or cause to be performed any of the
unperformed covenants or obligations, and if necessary the Landlord will be
entitled to enter into the Leased Premises without further notice. All expenses
incurred and expenditures made by the Landlord plus a sum equal to 15%
representing the Landlord's
<PAGE>
                                      -34-

overhead will be paid by the Tenant as Additional Rent within ten (10) days
after demand. If the Tenant is in default in the payment of any amounts or
charges comprising Additional Rent, then the amounts will, if not paid when due,
be paid to the Landlord within ten (10) days after demand. The Landlord may, at
its option, apply or allocate any sums received from or due to the Tenant
against any amounts due and payable under this Lease in any manner which the
Landlord deems advisable.

SECTION 13.06 RENT PAST DUE

                  If the Tenant fails to pay any Basic Rent or Additional Rent
when due, the unpaid amounts bear interest from the due date to the date of
payment at an annual rate of five (5) percentage points above the minimum
lending rate to prime commercial borrowers current at that time charged by the
Landlord's chartered bank, calculated and compounded monthly.

SECTION 13.07 REMEDIES GENERALLY

                  Mention in this Lease of any particular remedy of the Landlord
does not preclude the Landlord from any other remedy, whether available at law
or in equity or by statute or expressly provided for in this Lease. No remedy
will be exclusive or dependent upon any other remedy, and the Landlord's
remedies are cumulative and not alternative.

                                  ARTICLE XIV
                                  MISCELLANEOUS

SECTION 14.01 RULES AND REGULATIONS

                  The Rules and Regulations adopted and promulgated by the
Landlord from time to time including, without limitation, those set out in
Schedule "E", are made a part of this Lease as if they were embodied herein, and
the Tenant will comply with and observe them as though they were covenants. The
Landlord reserves the right from time to time to amend or supplement the Rules
and Regulations applicable to the Leased Premises or the Building as in the
Landlord's judgment, acting reasonably and in such manner as would a prudent
Landlord of a similar office building, are from time to time needed for the
safety, care, cleanliness and efficient operation of the Building. Notice of the
Rules and Regulations and amendments and supplements, if any, will be given to
the Tenant and the Tenant will thereupon comply with and observe them provided
that they do not contradict any terms, covenants and conditions of this Lease.
The Landlord is not under any obligation to enforce the Rules and Regulations
against other tenants and is not responsible if other tenants fail to observe
them.

SECTION 14.02 INTENT AND INTERPRETATION

         (a) Net Lease

                  The Tenant acknowledges that it is intended that this Lease is
a completely net lease to the Landlord, except as expressly herein set out, that
the Landlord is not responsible during the Term for any costs, charges, expenses
and outlays of any nature whatsoever arising
<PAGE>
                                      -35-

from or relating to the Leased Premises, or the use and occupancy thereof and
the Tenant will pay all charges, impositions, costs and expenses of every nature
and kind relating to the Leased Premises except as expressly herein set out.

         (b) Obligations as Covenants

                  Each obligation or agreement of the Landlord or the Tenant
expressed in this Lease, even though not expressed as a covenant, is considered
to be a covenant for all purposes.

         (c) Captions and Section Numbers

                  The captions, section numbers, article numbers and Table of
Contents appearing in this Lease are inserted only as a matter of convenience
anti in no way define, limit, construe or describe the scope or intent of such
sections or articles of this Lease nor in any way affect this Lease.

         (d) Extended Meanings

                  The words "hereof", "herein", "hereunder" and similar
expressions used in any Section or Subsection of this Lease relate to the whole
of this Lease and not to that Section or Subsection only, unless otherwise
expressly provided. The use of the neuter singular pronoun to refer to the
Landlord or the Tenant is deemed a proper reference even though the Landlord or
the Tenant is an individual, a partnership, a corporation or a group of two or
more individuals, partnerships or corporations. The necessary grammatical
changes required to make the provisions of this Lease apply in the plural sense
where there is more than one Landlord or Tenant and to either corporations,
males or females, shall in all instances be assumed as though-in each case fully
expressed.

         (e) Partial Invalidity

                  If any term, covenant or condition of this Lease, or the
application thereof to any Person or circumstance, is to any extent held or
rendered invalid, unenforceable or illegal, then that term, covenant or
condition: (i) is deemed to be independent of the remainder of this Lease and to
be severable and divisible therefrom, and its invalidity, unenforceability or
illegality does not affect, impair or invalidate the remainder of the Lease or
any part thereof; and (ii) continues to be applicable to and enforceable to the
fullest extent permitted by law against any Person and circumstances other than
those as to which it has been held or rendered invalid, unenforceable or
illegal. Neither party is obliged to enforce any term, covenant or condition of
this Lease against any Person, if, or to the extent by so doing, such party is
caused to be in breach of any laws, rules, regulations or enactments from time
to time in force.

         (f) Entire Agreement

                  This Lease and the Schedules, and Riders, if any, attached
together with the rules and Regulations set forth all covenants, promises,
agreements, conditions and understandings between the Landlord and the Tenant
concerning the Leased Premises and there are no other
<PAGE>
                                      -36-

covenants, promises, agreements, conditions or understandings, either oral or
written, between them. No alteration, amendment or addition to this Lease will
be binding upon the Landlord or the Tenant unless in writing and signed by the
Tenant and by two representatives of the Landlord. No alteration, amendment or
addition to this Lease will be binding upon the Landlord or the Tenant unless in
writing and signed by the Tenant and the Landlord.

         (g) Governing Law

                  This Lease will be construed in accordance with and governed
by the laws of the Province of Ontario.

         (h) Time of the Essence

                  Time is of the essence of this Lease and of every part of it.

SECTION 14.03 OVERHOLDING - NO TACIT RENEWAL

                  If the Tenant remains in possession of the Leased Premises
after the end of the Term without having signed a new lease or an extension of
Term agreement, there is no tacit renewal of this Lease or the Term,
notwithstanding any statutory provisions or legal presumptions to the contrary,
and the Tenant will be deemed to be occupying the Leased Premises as a tenant
from month-to-month at a monthly Basic Rent equal to twice the monthly amount of
Basic Rent payable during the last month of the Term, and otherwise, upon the
same terms, covenants and conditions as are set forth in this Lease (including
the payment of Additional Rent) so far as these are applicable to a monthly
tenancy.

SECTION 14.04 SUCCESSORS

                  All rights and liabilities under this Lease extend to and bind
the heirs, executors, administrators, successors and assigns of the Landlord and
the heirs, executors, administrators and permitted successors and assigns of the
Tenant, as the case may be. No rights, however, will enure to the benefit of any
Transferee of the Tenant unless the Transfer has been consented to or is
otherwise permitted. If there is more than one the Tenant, they are all bound
jointly and severally.

SECTION 14.05 TENANT PARTNERSHIP

                  If the Tenant is a partnership ("the Tenant Partnership") each
Person who is presently a member of the Tenant Partnership, and each Person who
subsequently becomes a member of any successor the Tenant Partnership will be
and continue to be liable jointly and severally for the full and complete
performance of, and will be and continue to be subject to, the terms, covenants
and conditions of this Lease, whether or not the Person ceases to be a member of
the Tenant Partnership or successor the Tenant Partnership.
<PAGE>
                                      -37-

SECTION 14.06 WAIVER

                  The waiver by either party of any breach of the other is not
deemed to be a waiver of any subsequent breach of the same or of any other term,
covenant or condition. The subsequent acceptance of Basic Rent or Additional
Rent by the Landlord is not deemed to be a waiver of any preceding breach by the
Tenant regardless of the Landlord's knowledge of the preceding breach at the
time of acceptance of the Rent. No term, covenant or condition of this Lease is
deemed to have been waived by the other party unless the waiver is in writing.

                  All Basic Rent and Additional Rent to be paid by the Tenant to
the Landlord will be paid without any deduction, abatement, set-off or
compensation whatsoever (except for the Basic Rent to the extent it may be
abated pursuant to Section 9.01), and the Tenant hereby waives the benefit of
any statutory or other rights in respect of abatement, set-off or compensation
in its favour at the time hereof or at any future time.

SECTION 14.07 ACCORD AND SATISFACTION

                  No payment by the Tenant or receipt by the Landlord of a
lesser amount than the monthly payment of Basic Rent or Additional Rent
stipulated is deemed to be other than on account of the earliest stipulated
Basic Rent or Additional Rent, nor is any endorsement or statement on any cheque
or any letter accompanying any cheque or payment as Rent deemed an
acknowledgement of full payment or accord and satisfaction, and the Landlord may
accept and cash any cheque or payment without prejudice to the Landlord's right
to recover the balance of the Rent due or to pursue any other remedy provided in
this Lease.

SECTION 14.08 FORCE MAJEURE

                  Notwithstanding anything in this Lease, if the Landlord is
bona fide delayed or hindered in or prevented from the performance of any term,
covenant or act required hereunder by reason of strikes, labour troubles;
inability to procure materials or services; power failure; restrictive
governmental laws or regulations; riots; insurrection; sabotage; rebellion; war;
act of God; or other reason whether of a like nature or not which is not the
fault of the Landlord in performing work or doing acts required under the terms
of this Lease, then the performance of that term, covenant or act is excused for
the period of the delay and the party delayed will be entitled to perform that
term, covenant or act within the appropriate time period after the expiration of
the period of the delay.

SECTION 14.09 NOTICES

                  Any notice, demand, request or other instrument which may be
or is required to be given under this Lease will be delivered in person or sent
by registered mail postage prepaid and will be addressed (a) if to the Landlord,
to: Sixth Floor, 8 Market Street, Toronto, Ontario, M5E 1M6, or to such other
Person or at such other address as the Landlord designates by written notice,
and (b) if to the Tenant, at the Leased Premises or, at the Landlord's option,
to the Tenant's head office, at 350 Steelcase Road West, Markham, Ontario, L3A
1B3. Any notice, demand, request or consent is conclusively deemed to have been
given or made on the day upon
<PAGE>
                                      -38-

which it is delivered, or, if mailed, then seventy-two (72) hours following the
date of mailing, as the case may be. Either party may give written notice of any
change of its address and thereafter the new address is deemed to be the address
of that party for the giving of notices. If the postal service is interrupted or
is substantially delayed, any notice, demand, request or other instrument will
be delivered in person.

SECTION 14.10 REGISTRATION

                  Neither the Tenant nor any one on the Tenant's behalf or
claiming under the Tenant will register this Lease against the Lands or any part
thereof comprising the Building or the Leased Premises. If either party intends
to register a document for the purpose only of giving notice of this Lease or of
any assignment or sublease of this Lease, then, upon request of either party,
the other will join in the execution of a short form or notice of this Lease
which will (i) be prepared by the Landlord or its solicitors at the Tenant's
expense, (ii) only describe the parties, the Leased premises and the
Commencement Date and the expiration date of the Term, and any options to renew,
and (iii) at the Landlord's option be accompanied by a registrable power of
attorney whereby the Tenant appoints the Landlord as its attorney to execute any
instruments required under Article XII. The short form or notice of this Lease
will be subject to the prior written approval of the Landlord with the Tenant
reimbursing the Landlord for all legal fees and other expenses incurred.

SECTION 14.11 DIRECTORY BOARD

                  The Tenant will be entitled at the Landlord's expense to have
its name shown on the directory board of the Building, the Landlord will design
the style of such identification and the directory board will be located in an
area designated by the Landlord in the main lobby of the Building.

SECTION 14.12 ACCRUAL OF BASIC RENT AND ADDITIONAL RENT

                  Basic Rent and Additional Rent will be considered as annual
and accruing from day-to-day and where it becomes necessary for any reason to
calculate Rent for an irregular period of less than 1 year, an appropriate
apportionment and adjustment will be made.

SECTION 14.13 COMPLIANCE WITH THE PLANNING ACT

                  It is a condition of this Lease that the subdivision control
provisions of the Planning Act (Ontario), and amendments thereto, be complied
with if they apply. If the provisions of the Planning Act do apply, then until
any necessary consent to the Lease is obtained, the Term (including any
extensions thereof) and the Tenant's rights and entitlement granted by this
Lease are deemed to extend for a period only of twenty-one (21) years less one
(1) day from the Commencement Date.
<PAGE>
                                      -39-

SECTION 14.14 INDUCEMENT TO LEASE

         (a) As an inducement to enter into this Lease, the Landlord has agreed
to advance to the Tenant (subject to the Tenant's compliance with the provisions
of Subsection 14.14(d) herein and after deducting any amounts owing to the
Landlord) an amount up to a maximum of Thirty Dollars ($30.00) per square foot
of the Usable Area of the Leased Premises (the "Loan") which shall be applied by
the Tenant against the costs incurred by the Tenant to complete Tenant's Work
under Schedule "C" of this Lease. The Loan shall be advanced (the "Advance") by
the Landlord in progress payments within ten (10) days of receipt from the:
Tenant of paid invoices from the Tenant's contractors and/or suppliers so long
as: (i) such expenditure by the Tenant is in accordance with plans and
specifications approved by the Landlord and does not include any chattels, trade
fixtures, furniture, equipment, inventory, stock-in-trade, or any items readily
removable from the Leased Premises; (ii) any such leasehold improvements and
fixturing is completed by contractors or workmen approved by the Landlord, all
in accordance with Schedule "C" attached hereto; (iii) the Landlord receives
proper invoices paid by the Tenant to its suppliers or contractors for such
costs; and (iv) the Tenant has entered into the Personal. Property Security
Agreement as more particularly set out in Subsection 14.14(d) herein. The amount
of the Advance shall be subject to set-off of any amount owing to the Landlord
and to any holdback requirements of the construction Lien Act, 1983, and any
other statutes, rules, orders or regulations or any governmental authority
having jurisdiction.

         (b) It is further understood and agreed by the parties that that
portion of the Loan remaining unpaid by the Landlord, if any, upon completion
and payment by the Tenant of all Tenant's leasehold improvements and fixturing
in the Leased Premises, shall be held in trust by the Landlord as a security
deposit (the "Security Deposit") for the period ending sixty (60) months later,
or such shorter period in the event of termination of the Lease by the Tenant as
provided by the terms of Section 14.18 herein (the "Security Deposit Term"). The
Security Deposit shall bear interest at the rate of interest equal to one
percent (1%) in excess of the Landlord's bankers quoted annual prime lending
rate, from time to time, calculated monthly, not in advance, for the Security
Deposit Term. The Security Deposit is to be applied as security for the due
performance by the Tenant of all covenants and obligations on its part herein
contained and the Landlord shall be entitled, at its sole discretion, to apply
any or all of the amount of the Security Deposit to any damage resulting from
any default by the Tenant of the covenants and obligations hereunder or towards
the payment or reduction of any claim of the Landlord against the Tenant. Upon
expiration of the Security Deposit Term, the balance of the Security Deposit
then outstanding, including all accrued interest, as aforesaid, will be paid by
the Landlord to the Tenant.

         (c) It is understood and agreed that the Loan represents consideration
paid by the Landlord in respect of the improvements to the Leased Premises for
the full ten (10) years of the Term granted to the Tenant and therefore is only
repayable to the Landlord in the event of early termination of the Lease as a
result of either (i) default by the Tenant in the due and punctual payment of
all Rent and all other amounts payable under the Lease or in the prompt and
complete performance of all and singular the terms, covenants and conditions
contained in the Lease on the part of the Tenant to be kept, observed and
performed, or (ii) the exercise by the
<PAGE>
                                      -40-

Tenant of its right to cancel the Lease as provided under Section 14.18. In such
event the Loan shall be immediately due and repayable in the amount equal to the
unamortized value of the leasehold improvements made to the Leased Premises
(which the Tenant is required by this lease to leave in the Leased Premises) and
paid for by the Landlord pursuant to the provisions of Section 14.14(a) above
(the "Loan Balance"). For the purpose of this Section 14.14(c), the loan Balance
shall be deemed to equal the product obtained when the loan is multiplied by a
fraction having as its numerator the number of years and partial years left
remaining in the Term at the time of said early termination of the Lease and as
its denominator, ten (10). The Landlord shall be permitted to apply any or all
of the Security Deposit, together with accrued interest, to repayment of the
Loan Balance. The Loan Balance payable by the Tenant hereunder shall be deemed
to be Additional Rent.

         (d) In order to secure the faithful performance by the Tenant of all of
its covenants and obligations under this Lease, including the Tenant's covenant
to pay the Loan Balance outstanding as provided under subsection 14 .14 (c)
herein, (i) the Tenant covenants to enter into a personal property security
agreement (the "Personal. Property Security Agreement") with the Landlord, in
the form attached hereto as Schedule "H", and (ii) the Indemnifier covenants to
enter into a personal property security agreement (also herein referred to as
"the Personal Property Security Agreement") with the Landlord, in the form
attached hereto as Schedule "I", both simultaneously upon execution of this
Lease, failing which, this Lease may, at the Landlord's option, be terminated by
the Landlord and the Deposit returned to the Tenant with interest as set out in
Section 2.03. The Personal Property Security Agreement shall be effective for
the duration of the Term of this Lease and a notice of the security interest
will be registered under the Personal Property Security Act. The Landlord's
security interest shall be second in priority subsequent only to the security in
favour of The Toronto-Dominion Bank in connection with ordinary course of
business financing of the Tenant, as approved by the Landlord, from time to
time.

         (e) (i) Notwithstanding anything contained hereunder to the contrary,
the Landlord agrees to release its interest in the security charged by the
Personal Property Security Agreement required and entered into pursuant to the
provisions of Section 14.14(d) above so long as GEAC COMPUTER CORPORATION
LIMITED, the Indemnifier under this Lease, shall deposit with the Landlord an
irrevocable letter or letters of credit (the "Letter of Credit") from a Canadian
chartered bank in favour of the Landlord payable on demand in a form acceptable
to the Landlord in the amount of:

                  (1)      Five Hundred Thousand Dollars ($500,000.00) if the
                           Letter of credit is deposited during the first full
                           consecutive twelve (12) calendar months of the Term
                           from the Commencement Date;

                  (2)      Four Hundred Thousand Dollars ($400,000.00) if the
                           Letter of credit is deposited during the second full
                           consecutive twelve (12) calendar months of the Term
                           from the Commencement Date;
<PAGE>
                                      -41-

                  (3)      Three hundred Thousand Dollars ($300,000.00) if the
                           Letter of credit is deposited during the third full
                           consecutive twelve (12) calendar months of the Term
                           from the Commencement Date;

                  (4)      Two Hundred Thousand Dollars ($200,000.00) if the
                           letter of credit is deposited during the fourth full
                           consecutive twelve (12) calendar months of the Term
                           from the Commencement Date: and

                  (5)      One Hundred Thousand Dollars ($100,000.00) if the
                           Letter of credit is deposited during the fifth full
                           consecutive twelve (12) calendar months of the Term
                           from the Commencement Date.

The Letter of Credit will be held by the Landlord for sixty (60) full calendar
months or until expiration of the Term of this Lease, whichever first occurs,
without liability for interest, as security for the faithful performance by the
Tenant of all of its covenants and obligations under the Lease (including the
Tenant's covenant to pay the loan Balance outstanding as provided under
subsection 14.14(c) herein).

         (ii) If the Tenant pays the Rent (including Basic Rent and all
Additional Rent) as and when due and punctually observes and perform the terms,
covenants and conditions to be observed and performed by it in accordance with
the terms of this Lease, and so long as the Tenant is GEAC CANADA LIMITED and is
itself in occupation of and conducting business in the whole of the Premises,
then from and after the expiry of each successive twelve (12) full calendar
month period after the date GEAC COMPUTER CORPORATION LIMITED deposits the
Letter of Credit with the Landlord, GEAC COMPUTER CORPORATION LIMITED may, at
its option, replace the letter of Credit with substitute Letter of Credit in the
amount which is One Hundred Thousand Dollars ($100,000.00) less than the
immediately previous Letter of Credit.

         (iii) If the Basic Rent or Additional Rent are at any time overdue and
unpaid, or if the Tenant fails to keep and perform any terms, covenants and
conditions of this Lease, then the Landlord at its option may, in addition to
any other rights it has, draw upon and apply the entire Letter of Credit in
place at such time, or as much of it as is necessary to compensate the Landlord
for loss or damage sustained or suffered by the Landlord due to the Tenant's
breach. If the entire Letter of Credit, or any portion of it, is drawn upon and
applied by the Landlord for payment of overdue Rent, then: (1) GEAC COMPUTER
CORPORATION LIMITED will, upon demand, be required to provide to the Landlord an
additional Letter of Credit or substitute Letter of Credit to ensure that the
Landlord is in possession of the amount of a Letter of Credit in the amount and
in the form originally required by the terms of this subsection 14.14 (e)(i) to
be held by the Landlord for a further sixty (60) month period, or the remainder
of the Term of the Lease, whichever first occurs, and (2) the Tenant will not be
entitled to replace the amount of the Letter of Credit as hereinbefore provided
under Subsection 14.14 (e) (ii) with a Letter of Credit which is less than the
Letter of credit then in place. If the Tenant complies with all of the terms,
covenants and conditions herein and promptly pays all of the Rent, the Letter of
Credit will be returned in full to the Tenant without interest at the expiry of
the applicable sixty (60) month period, or expiration of the Term of this Lease,
whichever first occurs.
<PAGE>
                                      -42-

         (iv) The Landlord may deliver the current Letter of Credit in place to
any purchaser of the Landlord's interest in the Premises or the Building and if
purchaser agrees to assume the Landlord's obligations under subsection 14.14 (e)
(iii), the Landlord is thereafter relieved of all further liability with respect
to the Letter of Credit.

SECTION 14.15 OPTION TO LEASE ADDITIONAL PREMISES

                  So long as the Tenant and occupant of the Leased Premises is
GEAC CANADA LIMITED and provided the Tenant is not in default under the terms of
this Lease, then on the last day of the fifth Rental Year of the Term, which is,
subject to the provisions of Section 1.05 (b) herein, April 30, 1994 (the
"Option Date") the Tenant shall have the one-time only option (the "Option") to
lease any rentable area on the third floor of the Building either then vacant or
which will be vacant by the Option Date (the "Expansion Space") upon the
following terms and conditions:

         (a) the Option is exercisable by written notice (the "Notice to Lease
Expansion Space") to the Landlord six (6) months prior to the option Date, which
is, subject to the provisions of Section 1.05(b) herein, November 31, 1993 (the
"Exercise Date");

         (b) the Tenant shall accept the Expansion Space in an "as is" condition
and any further work in or to the Expansion space shall be completed by the
Tenant at its sole cost and expense;

         (c) the Lease of the Expansion Space shall be upon the same terms and
conditions as are contained in this Lease, save and except (i) there shall be no
Inducement or allowance payable by the Landlord, (ii) no Landlord's Work, and
(iii) the Rent payable under this Lease, including Basic Rent and all Additional
Rent, shall be adjusted to reflect the area of the Expansion Space; and

         (d) the Tenant shall enter into documentation prepared by the Landlord
to give effect to any such lease of Expansion Space.

                  If the Tenant does not advise the Landlord or fails to advise
the Landlord of its election to exercise its Option on the Option Date, then the
Landlord shall thereupon have the right to lease the Expansion Space to a third
party and the Tenant's Option shall be null and void and of no further force or
effect.

SECTION 14.16 RIGHT OF FIRST REFUSAL

                  So long as the Tenant and occupant of the Leased Premises is
GEAC CANADA LIMITED and is not in default under the terms of this Lease, then
during the initial Term of this Lease (excluding any renewal), if the Landlord
shall receive an offer to lease (the "Offer") from a bona fide party dealing at
arm's length with the Landlord and which Offer the Landlord is prepared to
accept, for that portion of rentable premises presently vacant on the ground
floor of the Building containing approximately three thousand (3,000) square
feet and outlined in yellow on Schedule "B" attached hereto (the "Additional
Premises"), then, the Landlord shall first give
<PAGE>
                                      -43-

to the Tenant notice (the "Notice") in writing of its intention to lease the
Additional premises together with a copy of the Offer and including the terms
and conditions on which it is prepared to grant a lease to the Tenant for the
Additional Premises. The Tenant shall have ten (10) business days from the date
of receipt of the Notice within which to notify the Landlord of its election to
lease the Additional Premises in accordance with the terms and conditions of the
Notice and the Offer. If the Tenant elects to lease the Additional Premises
within the ten (10) business day period and so notifies the Landlord, the
parties shall thereafter execute a lease for the Additional Premises which shall
be on the same terms and conditions as are contained in the Notice and the
Offer. If the Tenant fails to advise the Landlord of its election within such
ten (10) day period or if the Tenant advises the Landlord of its election not to
lease the Additional. Premises, then, the first right of refusal contained in
this section 14.16 shall be null and void and of no further force or effect and
the Landlord shall be entitled to lease the Additional Premises to the bona fide
third party on the terms and conditions contained in the Notice and the Offer.
Provided, however, if the Tenant elects not to lease the Additional Premises,
the Landlord shall not thereafter lease the Additional Premises or any part
thereof to any other person, firm or corporation on any better terms and
conditions than are contained in the Notice first received by the Tenant without
giving the Tenant a new notice containing such better terms and conditions and
granting to the Tenant for period of ten (10) business days the right to lease
the Additional Premises on such better terms and conditions.

SECTION 14.17 RIGHT TO RELOCATE

                  So long as the Tenant and occupant of the Leased Premises is
GEAC CANADA LIMITED and is not in default under the terms of this Lease, then
the Tenant shall have the right at any time during the terms of this Lease,
including any renewals, to relocate to premises in any of the other buildings
owned by the Landlord at Markham Corporate Campus having a usable area at least
twenty-five percent (25%) greater than the Usable Area of the Leased Premises
(the "Relocation Premises") upon prior written request ("Request to Relocate")
from the Tenant to the Landlord to relocate to any such Relocation Premises and
subject to the terms and conditions hereinafter set out. Upon the Landlord's
receipt of the Tenant's Request to Relocate, the Landlord shall give notice to
the Tenant ("Notice of Relocation") if and when such Relocation Premises become
vacant for lease under their respective lease(s) in place at such time, and the
Tenant shall have the first option to lease such Relocation Premises
("Relocation Option"), subject to the following terms and conditions:

         (a)      the term of the Tenant's lease of the Relocation Premises
                  shall not be less than ten (10) years and the rental rate and
                  tenant inducements, if any, shall be at the then current
                  market rates for comparable buildings in the vicinity in which
                  the Relocation Premises are located;

         (b)      all other terms and conditions in respect to the Tenant's
                  lease of the Relocation Premises shall be as mutually agreed
                  upon between the Landlord and the Tenant, both acting
                  reasonably; and
<PAGE>
                                      -44-

         (c)      the parties shall execute a surrender of this Lease at no
                  penalty to the Tenant and enter into a new lease in respect of
                  the Relocation Premises as prepared by the Landlord.

                  If the parties fail to agree upon terms and conditions in
respect of the Tenant's lease of the Relocation Premises as provided herein
within thirty (30) days of the Tenant's receipt of the Notice of Relocation and
in any event thirty (30) days prior to expiration of the Lease, then the
Tenant's Relocation Option as set out in this Section 14.17 shall be null and
void and the terms of this Lease shall prevail as if this Section 14.17 had not
formed part of this Lease.

SECTION 14.18 RIGHT TO CANCEL

                  So long as the Tenant and occupant of the Leased Premises is
GEAC CANADA LIMITED, and is not in default under the terms of this Lease, the
Tenant shall have the right to terminate this Lease on the 30th day of April,
1994 (the "Termination Date") exercisable upon written notice delivered to the
Landlord by registered mail on or before 5:00 p.m., the 30th day of April, 1993
(the "Notice Date") simultaneously with delivery to the Landlord of a certified
cheque in an amount equal, to the aggregate of: (a) the Rent to have been paid
by the Tenant under this Lease for the six (6) month period occurring after the
Termination Date, including Basic Rent and all Additional Rent as estimated by
the Landlord, in its sole discretion, and (b) the balance of the Loan
outstanding in accordance with the terms of Section 14.14(b) herein: failing
which the Tenant's right to terminate the Lease shall become null and void and
of no further force or effect.

                  If this Lease is terminated pursuant to the foregoing, the
Tenant covenants and agrees to surrender the Leased Premises and deliver up
vacant possession thereof to the Landlord upon said Termination Date in
accordance with the provisions of this Lease, and all amounts due and owing by
the Tenant pursuant to this Lease shall be apportioned as of the Termination
Date and payable upon demand by the Landlord, and the Landlord shall be
discharged from its obligations hereunder and under the Lease, and the Tenant
shall have no recourse against the Landlord for damages or otherwise.

SECTION 14.19 SURVIVAL OF COVENANTS

                  The Tenant's obligation to observe and perform its covenants
and agreements under this Lease, including any obligations on its behalf to make
readjustments on account of Additional Rent, will survive the expiration of the
Term or earlier termination of this Lease. Subject to Section 10.04, the
Landlord's obligation to observe and perform its covenants and agreements under
this Lease, including any obligations on its behalf to make any readjustments on
account of Additional Rent, will survive the expiration of the Term or earlier
termination of this Lease.

                  IN WITNESS WHEREOF, Landlord and Tenant have signed and sealed
this Lease.
<PAGE>
                                      -45-

SIGNED, SEALED AND DELIVERED )  GUARSEL PARTNERSHIP
in the presence of           )                                   (Landlord)
                             )
                             )  Per:    "Guarsel Partnership"
                                        ----------------------------------
                             )                                         c/s
                             )  Per:
                                        ----------------------------------
                             )
                             )
                             )  GEAC CANADA LIMITED
                             )                                     (Tenant)
                             )
                             )  Per:    "Geac Canada Limited"
                                        ----------------------------------
                             )                                         c/s
                             )  Per:
                                        ----------------------------------
<PAGE>
                                  SCHEDULE "A"

TENANT:           GEAC CANADA LIMITED

SUITE NO.:        THIRD FLOOR

DATE:             DECEMBER 15, 1988

                         LEGAL DESCRIPTION OF THE LANDS

Block 8, Plan M-2029, Markham Corporate Campus, 11 Allstate Parkway, Markham,
Ontario, L3R 9T8.
<PAGE>
                                  SCHEDULE "B"

TENANT:           GEAC CANADA LIMITED

SUITE NO.:        THIRD FLOOR

DATE:             DECEMBER 15, 1988

                  FLOOR PLAN OF THE FIRST FLOOR OF THE BUILDING

            The Leased Premises are more particularly delineated on the floor
plan attached to this Schedule "B". The purpose of the plan is to identify the
approximate location of the Leased Premises in the Building.
<PAGE>
                              [FLOOR PLAN GRAPHIC]
<PAGE>
                                  SCHEDULE "C"

TENANT:           GEAC CANADA LIMITED

SUITE NO:         THIRD FLOOR

DATE:             DECEMBER 15, 1988

                       CONSTRUCTION OF THE LEASED PREMISES
                          LANDLORD'S AND TENANT'S WORK

LANDLORD'S WORK

The Landlord shall complete the following in respect to the Leased Premises, to
the standard for the Building:

a)    Building standard front entrance door;

b)    Building standard T-bar ceilings, plug-in type fluorescent light fixtures
      and tubes located on the floor to be installed by the Tenant;

c)    prime painted perimeter drywall;

d)    provide and install a sprinkler system with sprinkler heads in accordance
      with building standard;

e)    power available to Tenant at electrical room on each floor;

f)    heating and air conditioning system laid out in accordance with Building
      standard; and

g)    apply for building permit with plans approved by Landlord and provided by
      the Tenant at the Tenant's expense.

TENANT'S WORK

1. All work required to complete the Leased Premises ready to open for business
to the public, other than those items expressly enumerated and installed as part
of the Landlord's Work, will be provided by the Tenant at its expense ("Tenant's
Work").

2. All Tenant's Work shall, be performed by or on behalf of the Tenant in a
first-class, good and workman-like manner in accordance with the design manual
provided to the Tenant by the Landlord. And any changes desired by the Tenant
which depart from the Building's standard or which involve the use of materials
not standard to the Building are subject to the Landlord's prior written
approval and will be made at the expense of the Tenant.
<PAGE>
                                      -2-

3. All permits, excluding the building permit, necessary for the installation of
the Tenant's leasehold improvements and approval of plans must be obtained by
the Tenant at its expense from the applicable authorities prior to the
commencement of the Tenant's Work.

4. The Tenant will ensure that all work on or in respect to the Leased Premises
is to be performed by competent workman approved in writing by the Landlord and
whose labour union affiliations are compatible with others employed by the
Landlord and its contractors.

5. The Tenant and its contractors are responsible to remove garbage and debris
from the Leased Premises and the Building daily and place same into garbage
containers supplied by the Tenant's contractor for that purpose. If applicable,
all tenants will be assessed their Proportionate Share of the cost to the
Landlord of providing any empty garbage containers on the job site during the
construction of their premises. Any of the Tenant's garbage or debris removed by
the Landlord's forces will be charged to the Tenant's account.

PROCEDURES

1. The Tenant shall select a space planner (the "Space Planner") to design the
Leased Premises (the "Space Plan") and the Tenant shall notify the Landlord of
the name of the Space Planner as soon as practical following acceptance of the
offer dated November 4, 1988 (the "Offer") and entered into between the parties
hereto. Such Space Plan and any other plans and specifications in respect to
Tenant's Work shall be subject to the prior written approval of the Landlord.
The Landlord agrees to pay for the Space Planner's preliminary Space Plan and
one redraft of the Space Plan as substantiated by the Space Planner's invoice
for same. The Tenant shall be responsible for all other costs in respect of the
Space Plan including the cost of retaining and compensating the Space Planner in
the completion of its duties and responsibilities. The Tenant shall also be
responsible for the cost of any other working drawings, plans or specifications.

2. The Tenant will submit upon demand to the Landlord for the Landlord's written
approval, detailed working drawings and specifications for the Tenant's Work
including the Space Plan. Such submission shall be made on or before February 1,
1989, so as not to delay the commencement of the Landlord's Work or the Tenant's
Work. The Tenant's Work will be performed at the expense of the Tenant by
contractors, subcontractors and workmen engaged by the Tenant and first approved
by the Landlord and whose labour union affiliations are compatible with workman
employed in the Building by the Landlord.

3. Notwithstanding anything contained in this Schedule or the Lease, the
Landlord may upon reasonable notice to the Tenant require the Tenant to perform
parts of the Tenant's Work prior to the completion of the Landlord's Work in any
case where the nature or state of the work is such that the Landlord considers
it necessary or desirable to do so. The Landlord may require that all
structural, mechanical, electrical and other base building systems work to be
done with respect to the Leased Premises by or on behalf of the Tenant will be
carried out by the Landlord's contractors and employees at the Tenant's expense
and repayable by the Tenant to the Landlord upon demand as Additional Rent.
<PAGE>
                                      -3-

4. The Tenant will, prior to entering any portion of the Building or the Leased
Premises for the commencement of the Tenant's Work, complete each of the
following obligations to the Landlord's satisfaction:

(a) obtain the Landlord's prior written approval of the Tenant's plans and
specifications, including the Space Plan;

(b) provide the Landlord with certificates of insurance on the Landlord's
standard form duly executed by the Tenant's insurers evidencing that the
insurance required to be placed by the Tenant pursuant to the Lease has been
contracted;

(c) provide evidence satisfactory to the Landlord that the Tenant has obtained
at its expense all necessary consents, permits and licenses from all appropriate
governmental and regulatory authorities. If the Tenant fails to obtain any such
required consent, permit or license, the Landlord may, but shall not be obliged
to, obtain same on behalf of the Tenant, and the cost or expense incurred by the
Landlord will be payable by the Tenant as Additional Rent forthwith on demand;

(d) provide evidence satisfactory to the Landlord of the Tenant's work schedule
for completion of the Tenant's Work;

(e) provide for the Landlord's written approval, a listing of each contractor
and subcontractor who is to perform work or supply materials in connection with
the Tenant's Work.

5. If there is any delay by the Landlord in completing the Landlord's Work in
connection with the Leased Premises or in making available the services which
the Landlord is obliged to furnish to the Leased Premises and if such delay has
been occasioned by the Tenant's delay in furnishing its plans and specifications
(including the space plan) or any other information required by this Lease or
any Schedule attached, on or before the respective dates set out for the
furnishing of such plans and specifications or the giving of such information,
or if the Landlord has been impeded in completing the Leased Premises or in
making available the services which the Landlord is obliged to furnish by any
failure of the Tenant to comply with any of the provisions of this Lease or any
Schedule attached, or by the performance by the Tenant of the Tenant's Work (as
to any and all of which the Landlord's Architect shall be the sole judge), then,
the Commencement Date will be conclusively deemed to be the date fixed by the
Landlord's Architect as the date when the Landlord would have completed the
Landlord's Work in connection with the Leased Premises and made the services
available therefor had the Landlord not been delayed by the Tenant, as
aforesaid, and the Tenant shall not be entitled to any abatement of Rent by
reason of any such delay in occupancy following such date so fixed by the
Landlord's Architect. Provided further, and without limiting any of the
provisions of this Paragraph 4, the Commencement Date will be postponed (and
such postponement will be accepted by the Tenant as full compensation) if there
is any delay for any reason whatsoever which results in the Building, the Leased
Premises or the Landlord's Work in respect thereof not being completed on
schedule in accordance with this Lease.
<PAGE>
                                      -4-

REQUIREMENTS AFTER PERFORMANCE OF TENANT'S WORK

      The Tenant will, upon completion of the Tenant's Work and when requested
by the Landlord:

1. Provide the Landlord with a statutory declaration (the "Declaration"):

(a) stating that the Tenant's Work has been performed in accordance with this
Schedule "C" and the provisions of the plans and specifications approved by the
Landlord as provided herein and that all deficiencies (if any) which the
Landlord has brought to the Tenant's attention have been corrected;

(b) stating that there are no mechanics' lien or other liens or encumbrances
registered or otherwise outstanding against the Leased Premises or the Building
in respect of the Tenant's Work and that all accounts for work, services or
materials have been paid in full with respect to the Tenant's Work;

(c) listing each contractor and subcontractor who did work or provided materials
in connection with the Tenant's work;

(d) confirming the date on which the last work was performed and materials were
supplied.

2. Provide to the Landlord an itemized list certified by the Tenant showing the
costs actually expended by the Tenant for the completion of the Tenant's Work.

3. Provide to the Landlord a clearance certificate issued under the Workmen's
Compensation Act in respect of each contractor and subcontractor listed on the
declaration.

4. Obtain and provide to the Landlord a copy of every occupancy and other permit
which may be required by any governmental or other regulatory authority having
jurisdiction including the Town of Markham and the Fire Department, to permit
the Tenant to open for business.

5. Provide the Landlord with a certificate of a professional engineer acceptable
to the Landlord, certifying that the Tenant's work has been carried out in
accordance with the plans and specifications as approved by the Landlord,
including, without limitation, the electrical and mechanical portions of
Tenant's work.

6. Provide an air balancing report from Pro-Air Testing in accordance with
Landlord's instructions.

LIENS

      The Tenant will ensure that no mechanics' liens or other liens or
encumbrances will be registered against the Building, the Leased Premises, or
any part thereof, or the Landlord's or the Tenant's interest therein in respect
of the Tenant's Work. If the Tenant fails to promptly discharge or cause any
such lien to be discharged, then, in addition to any other rights or remedies of
the Landlord, the Landlord may (but shall not be obligated to) discharge the
lien by
<PAGE>
                                      -5-

paying the amount claimed into court or directly to the lien claimant and the
amount so paid, a sum equal to fifteen percent (15%) thereof representing the
Landlord's overhead and all costs and expenses (including legal costs and
expenses) plus interest as set out in the Lease shall be immediately due and
payable by the Tenant to the Landlord as Additional Rent forthwith on demand.

TENANT'S WORK PERFORMED BY THE LANDLORD

      Any additional equipment supplied or work performed by the Landlord
specifically for the Tenant and any excess or additional cost in the Landlord's
Work occasioned by the Tenant's requirements or revisions to such requirements
will be paid by the Tenant to the Landlord as a "back charge", as Additional
Rent, in accordance with the Landlord's payment schedule to be determined by the
Landlord.

      The amount payable will be the total cost to the Landlord and will include
(in addition to direct labour, materials and applicable taxes), architectural
and engineering fees, any costs attributable to changes requested by the Tenant
after approval of the Tenant's plans and specifications by the Landlord, plus
the Landlord's overhead charge for supervision of four percent (4%) of the total
cost to the Landlord of such equipment or work.

      Failure by the Tenant to pay any amounts due under the provisions of this
Schedule in the manner provided herein shall entitle the Landlord to terminate
this Lease, to retain the Security Deposit and Advance Rent paid by the Tenant
and to retain for its own use without payment therefor, any Tenant's Work which
has been commenced or completed within the Leased Premises, without prejudice to
the Landlord's rights to claim and prove any additional damages from the Tenant.
<PAGE>
                                  SCHEDULE "D"

TENANT:           GEAC CANADA LIMITED

SUITE NO.:        THIRD FLOOR

DATE:             DECEMBER 15, 1988

                           METHOD OF FLOOR MEASUREMENT

            The following sets out the various methods of measuring areas in the
Building using standard B.O.M.A. measurement.

DEFINITIONS

      (a) "Finished Surface" shall mean a wall, ceiling or floor surface,
including glass, as prepared for tenant use, excluding the thickness of any
special surfacing materials such as panelling, furring strips and carpet.

      (b) "Dominant Portion" shall mean that portion of the inside finished
surface of the permanent outer building wall which is 50% or more of the
vertical floor-to-ceiling dimension measured at the dominant portion. If there
is no dominant portion, or if the dominant portion is not vertical, the
measurement for area shall be to the inside finished surface of the permanent
outer building wall, where it intersects the finished floor.

      (c) "Major Vertical Penetrations" shall mean stair, elevator shafts,
flues, pipe shafts, vertical ducts, and the like, and their enclosing walls,
which serve more than one floor of the building, but shall not include stairs,
dumb-waiters, lifts, and the like, exclusively serving a tenant occupying
offices on more than one floor.

      (d)"Office" shall mean the premises leased to a tenant for which a
measurement is to be computed.

      (e) For Partial Floor Tenants: The area is defined in "Usable" square
feet, but rental will be based on "Rentable" square feet. The latter will also
be used in determining the Tenant's Proportionate Share.

1.    USABLE AREA

            The Usable Area of an office shall be computed by measuring to the
Finished Surface of the office side of corridor and other permanent walls, to
the centre of partitions that separate the office from adjoining Usable Areas,
and to the inside finished surface of the Dominant Portion of the permanent
outer building walls.
<PAGE>
                                      -2-

2.    RENTABLE AREA

            The Rentable Area of a floor shall be computed by measuring to the
inside Finished Surface of the Dominant Portion of the permanent outer building
walls, excluding any major vertical penetrations of the floor.

            No deduction shall be made for columns and projections necessary to
the building.

            The Rentable Area of an office on the floor shall be computed by
multiplying the Usable Area of that office by the quotient of the division of
the Rentable Area of the floor by the Usable Area of the floor resulting in the
"R/U Ratio" described herein.

3.    CONVERSION FORMULA

                  Rentable Area             =       Rentable/Usable Ratio
                  -------------                             ("R/U Ratio")
                  Usable Area

                  Usable Area x R/U Ratio   =               Rentable Area

                  Rentable Area             =                 Usable Area
                  -------------
                  R/U Ratio
<PAGE>
                                  SCHEDULE "E"

TENANT:           GEAC CANADA LIMITED

SUITE NO.:        THIRD FLOOR

DATE:             DECEMBER 15, 1988

                              RULES AND REGULATIONS

1. The Tenant will not place or permit any debris, garbage, trash or refuse to
be placed or left in or upon any part of the Building outside of the Leased
Premises.

2. The Landlord will permit the Tenant and the Tenant's employees and all
Persons lawfully requiring communication with them to have the use during Normal
Business Hours in common with others entitled thereto of the main entrance and
the stairways, corridors, elevators or other mechanical means of access leading
to the Leased Premises together with the Common Areas and Facilities located on
the Tenant's floor of the Building. At times other than during Normal Business
Hours the Tenant and its employees will have access to the Building and to the
Leased Premises only in accordance with the Rules and Regulations and will be
required to satisfactorily identify themselves and to register in any book which
may at the Landlord's option be kept by the Landlord for that purpose, failing
which the Landlord may deny entry to the Building, and may in any event deny
entry to the Leased Premises to any Person not having a key to the Leased
Premises.

3. The Landlord will permit the Tenant and its employees in common with others
entitled, to use the washrooms on the Tenant's floor of the Building or, in lieu
thereof, those washrooms designated by the Landlord.

4. The Tenant will permit window cleaners to clean the windows of the Leased
Premises during Normal Business Hairs.

5. The sidewalks, entrances, passages, escalators, elevators and staircases will
not be obstructed or used by the Tenant, its agents, servants, contractors,
invitees or employees for any purpose other than ingress to and egress from the
Leased Premises or the Building. The Landlord reserves the entire control of all
parts of the Building employed for the common benefit of the tenants and without
restricting the generality of the foregoing, the sidewalks, entrances, corridors
and passages not within the Leased Premises, washroom, lavatories,
air-conditioning closets, fan rows, janitor's closets, electrical closets,
stairs, escalators, elevator shafts, flues, stacks, pipe shafts and ducts and
will have the right to place such signs and appliances therein, as it deems
advisable, provided that ingress to and egress from the Leased Premises is not
unduly impaired thereby.
<PAGE>
                                      -2-

6. The Tenant, its agents, servants, contractors, invitees or employees, will
not bring in or take out, position, construct, install or move any safe or other
heavy machinery or equipment or anything liable to injure or destroy any part of
the Building without first obtaining the written consent of the Landlord. The
Landlord will have the right to prescribe the weight permitted and the position
thereof, and the use and design of planks, skids or platforms, to distribute
weight. All damage done to the Building by moving or using any heavy equipment
or other office equipment or furniture will be repaired at the expense of the
Tenant. The moving of all heavy equipment or other office equipment or furniture
will occur only by prior arrangement with the Landlord. No Tenant will employ
anyone to do its moving in the Building other than staff of the Building, unless
permission to employ anyone else is given by the Landlord and the reasonable
cost of such moving will be paid by the Tenant. Safes and other heavy office
equipment and machinery will be moved through the halls and corridors only upon
steel bearing plates. No freight or bulky matter of any description will be
received into the Building or carried in the elevators except during hours
approved by the Landlord.

7. The Tenant will not place or cause to be placed any additional locks upon any
doors of the Leased Premises without the approval of the Landlord and subject to
any conditions imposed by the Landlord. Two keys will be supplied to the
Landlord for each entrance door to the Leased Premises and all locks will be
standard to permit access by the Landlord's master key.

8. The Tenant will not permit any cooking or any heating of any foods or liquids
in the Leased Premises without the written consent of the Landlord.

9. Canvassing, soliciting and peddling in or about the Building are prohibited.

10. The Tenant will not place or maintain any supplies, merchandise or other
articles in any vestibule or entry of the Leased Premises, on the footwalks
adjacent thereto or elsewhere on the exterior of the Leased Premises or
elsewhere in the Building.

11. The Tenant will not permit or allow any odours, vapours, steam, water,
vibrations, noises or other undesirable effects to emanate from the Leased
Premises or any equipment or installation therein which, in the Landlord's
opinion, are objectionable or cause any interference with the safety, comfort or
convenience of the Building by the Landlord or the occupants and tenants thereof
or their agents, servants, invitees or employees.

12. The Tenant will not receive or ship articles of any kind except through
facilities and designated doors and at hours designated by the Landlord and
under the supervision of the Landlord.

13. The Tenant will not install any equipment which will exceed or overload the
capacity of any utility, electrical or mechanical facilities in the Premises, as
determined by the Landlord. If any equipment installed by the Tenant requires
additional utility, electrical or mechanical facilities, the Landlord may, in
its sole discretion, if they are available, elect to install them at the
Tenant's expense.
<PAGE>
                                      -3-

14. The Tenant will not bring into the Building any machinery, equipment,
article or thing that by reason of its weight, size or use might in the opinion
of the Landlord damage the Building and shall not at any time overload the
floors of the Premises.

15. The Tenant will, for the purposes of loading and unloading of goods and
other deliveries, use only the areas and entrances designated by the Landlord
and then only at the times designated by the Landlord.

16. No one will use the Leased Premises for sleeping apartments or residential
purposes, or for the storage of personal effects or articles other than those
required for business purposes.

17. No inflammable oils or other inflammable, dangerous or explosive materials
except those approved in writing by the Landlord's or its insurers will be kept
or permitted to be kept in the Leased Premises.

18. No bicycles or other vehicles will be brought within the Building without
the consent of the Landlord.

19. No animals or birds will be brought into the Building without the consent of
the Landlord.

20. The Tenant will not install or permit the installation or use of any machine
dispensing goods for sale in the Leased Premises or the Building.

21. If the Tenant desires telegraphic or telephonic connections, the Landlord
will direct the electricians as to where and how the wires are to be introduced.
No gas pipe or electric wire will be permitted which has not been ordered or
authorized by the Landlord. No outside radio or television aerials shall be
allowed on the Leased Premises without authorization in writing by the Landlord.
<PAGE>
                                  SCHEDULE "F"

TENANT:           GEAC CANADA LIMITED

SUITE NO.:        THIRD FLOOR

DATE:             DECEMBER 15, 1988

                                   DEFINITIONS

            In this Lease and in the Schedules:

1. "ADDITIONAL RENT" means all sums of money or charges required to be paid by
the Tenant under this Lease (except Basic Rent) whether or not designated
"Additional Rent" and whether or not payable to the Landlord or any other
Person.

2. "ARCHITECT" means the architect from time to time named by the Landlord. The
decision of the Architect whenever required by this Lease (or requested by the
Landlord) and any related certificate will be final and binding.

3. "BASIC RENT" means the annual rent payable by the Tenant pursuant to and in
the manner set art in Section 2.02 of this Lease.

4. "BUILDING" means the multi-storey office building known municipally as 11
Allstate Parkway, Markham, Ontario, and generally as "Markham Corporate Campus",
including the Common Areas and Facilities, and the areas and facilities serving
the Building or having utility in connection therewith, as determined by the
Landlord, whether or not located directly under the Building.

5. "COMMON AREAS AND FACILITIES" means those areas, facilities, utilities,
improvements, equipment and installations in or serving the Building which, from
time to time, are not designated or intended by the Landlord to be leased to
tenants of the Building, are designated by the Landlord as Common Areas and
Facilities or are provided or designated by the Landlord for the use or benefit
of the tenants, their employees, customers and other invitees in common with
others entitled to their use or benefit.

            Without limiting the generality of the foregoing, Common Areas and
Facilities include the roof, exterior wall assemblies (including weather walls),
exterior and interior structural elements and bearing walls in the Building; the
parking areas and parking garages of the Building; pedestrian sidewalks; service
areas; corridors; equipment, furniture, furnishings and fixtures; stairways,
escalators, ramps and elevators and other transportation equipment and systems;
tenant common and public washrooms; electrical, telephone, meter, valve,
mechanical, mail, storage, service and janitor rooms; communication systems;
general signs; columns; pipes; electrical, plumbing, drainage, mechanical, and
all other installations, equipment or services
<PAGE>
                                      -2-

located therein or related thereto as well as the structures housing the same
(including, without limitation, the heating, ventilating and air-conditioning
systems of the Building). Provided that for the purposes of calculating the
Total Rentable Area of the Building it is understood and agreed that the Common
Areas and Facilities do not include the roof and exterior wall assemblies
(including weather walls).

6. "C.P.I." means the Consumer Price Index (All Items for Regional Cities) for
the Municipality of Metropolitan Toronto (or any index published in substitution
for the Consumer Price Index or any other replacement index reasonably
designated by the Landlord if it is no longer published) published by Statistics
Canada (or by any successor thereof or any other governmental agency including a
provincial agency). In the case of any required substitution, the Landlord shall
be entitled to make all necessary conversions for comparison purposes.

7. "RENTABLE AREA OF THE LEASED PREMISES" means the area expressed in square
feet set out in Section 1.01 and determined in accordance with the method of
floor measurement set forth in Schedule "D".

8. "INDEMNIFIER" means the Person who has executed or agreed to execute the
Indemnity Agreement which is attached to this Lease as Appendix "A", if
applicable.

9. "LANDLORD" means the party of the First Part. Wherever the word "Landlord" is
used in this Lease, it is deemed to have the same meaning as "lessor", and
includes the Landlord and its duly authorized representatives. In sections that
contain a release or other exculpatory provision in favour of the Landlord,
"Landlord" includes the directors, office, employees and agents of the Landlord.

10. "LANDS" means the lands underneath, adjacent and appurtenant to the
Building, as more particularly described in Schedule "A" attached to this Lease
or as such Lands may be altered, expanded or reduced from time to time.

11. "LEASED PREMISES" means the premises leased to the Tenant as referred to and
described in Section 1.01.

12. "MORTGAGEE" means any mortgagee or chargee (including any trustee for
bondholders), from time to time, of the Building and the Lands or any part
thereof, or the Landlord's or the owners of the Building's or the Lard's
interest in them. The security documents held by Mortgagees and any ground or
underlying leases affecting the Lands or the Building are referred to as
"Encumbrances" as more particularly defined Section 12.02.

13. "NORMAL BUSINESS HOURS" means the hours from 8:00 a.m. to 6:00 p.m. on
Mondays to Fridays and the hours from 8:00 a.m. to 12:00 noon on Saturdays
unless any of such days is a holiday.

14. "OPERATING COSTS" means the total amounts incurred, paid or payable whether
by the Landlord or by others on behalf of the Landlord for the maintenance,
operation, repair, replacement, managing and administration of the Building and
the lands, calculated as if the
<PAGE>
                                      -3-

Building were fully leased and operational during each Rental Year of the Term.
Operating Costs include, without limitation and without duplication, the
aggregate of those items more particularly set out in section 3.05 of the Lease.

15. "OWNERS" means the registered owner or owners from time to time of the
freehold or leasehold title of the Building. In sections that contain a release
or other exculpatory language in favour of an owner, "Owner" includes the
officers, directors, employees (while in the ordinary course of their
employment), and agents of the Owner.

16. "PERSON", if the context allows, includes any person, firm, partnership or
corporation, or any group of persons, firms, partnerships or corporations or any
combination thereof.

17. "PROPORTIONATE SHARE" means a fraction which has as its numerator the Full
Floor Rentable Area of the Leased Premises and as its denominator the Total
Usable Area of the Building.

18. "RENT" means all Basic Rent, Additional Rent and all other sums or amounts
payable by the Tenant pursuant to this Lease.

19. "RENTAL YEAR" means a period of time, the first Rental Year commencing on
the first day of the Term hereof, and ending on the 31st day of December next
following; thereafter Rental Years consist of consecutive periods of twelve
calendar months. If, however, the Landlord considers it necessary or convenient
for the Landlord's accounting purposes, the Landlord may at any time and from
time to time, by written notice to the Tenant, specify an annual date from which
each subsequent Rental Year is to commence, and, in that event, then current
Rental Year will terminate on the day preceding the commencement of the new
Rental Year. The last Rental Year of the Term will end upon the expiration or
earlier termination of this Lease, as the case may be.

20. "RULES AND REGULATIONS" means the rules and regulations adopted and
promulgated by the Landlord from time to time as contemplated under Section
14.01, and they include the initial Rules and Regulations appearing in Schedule
"E".

21. "TAXES" means all real property taxes, rates, duties and assessments
(including local improvement taxes), impost charges or levies, whether general
or special, that are levied, rated, charged or assessed against the Building and
the Lands or any part thereof from time to time by any lawful taxing authority,
whether federal, provincial, municipal, school or otherwise, and any taxes or
other amounts which are imposed in lieu of, or in addition to, any such real
property taxes whether of the foregoing character or not and whether in
existence at the Commencement Date or not, and any such real property taxes
levied or assessed against the Landlord or the owners on account of its
interests in the Building and the Lands or any part thereof, or their ownership
thereof, as the case may be, calculated on the basis of the Building and the
Lands being assessed as a fully leased and operational building.
<PAGE>
                                      -4-

22. "TENANT" means the party of the Second Part and is deemed to include the
word "lessee" and to mean each and every Person mentioned as the Tenant in this
Lease, whether one or more. If there is more than one Tenant, any notice
required or permitted by this Lease may be given by or to any one of them and
has the same force and effect as if given by or to all of them. Any reference to
"Tenant" includes, where the context allows, the servants, employees, agents,
invitees and licensees of the Tenant and all others over whom the Tenant may
reasonably be expected to exercise control.

23. "TENANT'S WORK" means the work to be performed by the Tenant pursuant to
Schedule "C".

24. "TOTAL RENTABLE AREA OF THIS BUILDINGS" means the aggregate of each Full
Floor Rentable Area in the Building determined in accordance with Schedule "D".

25. "USABLE AREA OF THE LEASED PREMISES" means the area expressed in square feet
set out in section 1.01 and determined in accordance with schedule "D".
<PAGE>
                                  SCHEDULE "G"

TENANT:           GEAC CANADA LIMITED

SUITE.:           THIRD FLOOR

DATE:             DECEMBER 15, 1988

                                     PARKING

      The Landlord agrees that the use and occupancy by the Tenant of the
Premises throughout the Term includes the license to use the following parking
facilities:

(a) Below Grade Covered Parking - The Tenant shall have the exclusive right, at
all times during the Term, to seven (7) parking spaces at a location designated
by the Landlord in the below grade covered parking serving the Building at the
Landlord's current rental rate which is Forty Dollars ($40.00) per month per
parking space for the Building which amount is to be paid in advance as
Additional Rent together with the monthly instalments of Basic Rent. It is
understood and agreed that the cost of the aforesaid parking facilities may be
increased upon expiration of the initial Term in order to reflect the then
current rental rate established by the Landlord for the Building.

      Parking in the below grade covered parking facilities after Normal
Business Hours is on a first-come-first served basis.

(b) Above Grade Uncovered Parking - The Tenant shall have the non-exclusive use
in common with others entitled thereto, without charge, of the parking lot
serving the Building on the Common Areas and Facilities immediately surrounding
the Building.

      It is further understood and agreed that the Tenant's license to use the
parking facilities set out above is subject to and qualified by the following
provisions:

(i)   The use by the Tenant of the parking facilities shall, at all times, be
      subject to the exclusive control and management of the Landlord or the
      Landlord's nominee who shall have the right to establish, from time to
      time, all rules and regulations for the general management and operation
      thereof;

(ii)  The Landlord shall have the right to make all changes, improvements or
      alterations as the Landlord may, in its sole discretion from time to time,
      decide in respect of all parking facilities serving the Building
      including, without limitation, the right to change the location and the
      layout of any such parking areas as the Landlord shall, from time to time,
      determine.
<PAGE>
                                      -2-

(iii) The Landlord shall have the right to relocate any parking spaces or
      parking facilities herein on thirty (30) days' prior written notice.

(iv)  The Tenant shall use the parking facilities at its sole risk and the
      Landlord shall have no obligations to police the aforesaid parking
      facilities and further, that the Landlord shall not be liable for any
      damages, losses or injuries sustained by the Tenant or any property owned
      by the Tenant if same is damaged, lost or injured in the parking
      facilities and the Tenant hereby indemnifies the Landlord against any
      claims which may be brought against the Landlord arising out of the
      Tenant's use of the parking facilities; and

(v)   The Landlord may, at its option, require the Tenant to furnish, upon
      demand, the current license plate numbers of all vehicles used by the
      Tenant and its employees which will be parked in the parking facilities
      and the Tenant shall thereafter notify the Landlord of any change within
      five (5) days after such change occurs. Without in any way limiting the
      generality of the foregoing, the Landlord shall have the right, at the
      cost and expense of the Tenant and without any liability on the part of
      the Landlord, to remove any abandoned vehicles upon first giving the owner
      of such abandoned vehicle twenty-four (24) hours' notice (provided,
      however, that if the Landlord after the exercise of reasonable diligence
      is unable to locate the owner of such abandoned vehicle, then, the
      Landlord shall not be required to first give notice to such owner prior to
      removing the abandoned vehicle).
<PAGE>
                                  SCHEDULE "H"

                           GENERAL SECURITY AGREEMENT

            THIS AGREEMENT made as of the 28th day of February, 1989.

BETWEEN:

                  GEAC CANADA LIMITED
                  (the "Debtor")

                                          PARTY OF THE FIRST PART;

                  - and -

                  GUARSEL PARTNERSHIP
                  (the "Secured Party")

                                          PARTY OF THE THIRD PART.

            WHEREAS to secure payment of all present and future indebtedness and
liability of the Debtor to the Secured Party including without limitation all
present and future advances under a loan by the Secured Party to the Debtor,
particulars of which are set forth in the lease dated February 28, 1989 between
the Debtor as tenant and the Secured Party as Landlord (the "Lease"), the Debtor
has agreed to grant to the Secured Party a security interest in the Charged
Property as hereinafter defined.

            NOW THEREFORE IN CONSIDERATION of the premises and other good and
valuable consideration, the Debtor agrees to grant a security interest in the
Charged Property to the Secured Party upon and subject to the terms hereinafter
contained:

1.    Definitions

1.01  In this agreement, the "Act" shall mean the Personal Property Security
Act, R.S.O. 1980, c. 375, as amended or re-enacted from time to time, and a
"security interest", "purchase-money security interest", "perfect" and
"perfection" shall have the same meanings as are given to such words and phrases
respectively in the Act.

2.    Security

2.01  As security for the due payment of the Indebtedness owing by the Debtor to
the Secured Party and as security for the performance by the Debtor of all of
its secured obligations hereunder, the Debtor hereby grants, assigns, pledges,
mortgages and charges in favour of the Secured Party:

      (a)   As and by way of a fixed and specific mortgage and charge, all
            property and assets, personal and moveable of whatsoever nature and
            kind, both present and
<PAGE>
                                      -2-

            future, including all machinery, equipment, vehicles, trade
            fixtures, furniture, equipment, inventory, stock-in-trade, supplies,
            accounts receivable and other tangible personal property now or
            hereafter owned or acquired by the Debtor.

      (b)   As and by way of a floating charge, to and in favour of the Secured
            Party, all the Debtor's undertaking, property and assets, both
            present and future, real and personal, moveable and immovable, legal
            and equitable, tangible and intangible, of every nature and kind and
            wherever situate (including, without limitation, its goodwill and
            licences).

            In this General Security Agreement, the mortgage and charge hereby
constituted is called the "Security" and sometimes "Security Interest" and the
subject matter of the Security is called the "Charged Property".

            TO HAVE AND TO HOLD ALL AND SINGULAR the Charged Property and the
mortgage, pledge and charge thereof and all rights conferred herein unto the
Secured Party, its successors and assigns forever.

2.02 Until the Security hereby constituted shall become enforceable, the Debtor
may without the consent of the Secured Party, sell or otherwise dispose of any
property, from time to time, forming part of the Charged Property (other than
the Lease and its rights thereunder); provided that there shall be substituted
therefor, subject to the Security Interest of this General Security Agreement,
property which the Debtor, acting reasonably, believes to be of equal value. Any
property sold or otherwise disposed of pursuant to this Section 2.02 shall upon
disposition be no longer subject to the Security Interest hereby created.
Nothing in this General Security Agreement shall prevent or in any way hinder
the Debtor, so long as the Security hereby constituted shall not have become
enforceable, from carrying on its business in the ordinary course including,
without consent of or release from the Secured Party, from validly and
effectively entering into, amending and terminating contracts, from time to
time, and satisfying in the ordinary course its liabilities and obligations.

2.03 The Debtor shall not (without the prior written consent of the Secured
Party) create, assume or have outstanding, except to the Secured Party, any
mortgage, charge, security interest or other encumbrance on all or any part of
the Charged Property, which would rank in priority to or pari passu with the
security constituted by this General Security Agreement other than:

      (a)   security interests, from time to time, granted in favour of The
            Toronto-Dominion Bank (or any successor in interest thereto by
            assignment or otherwise);

      (b)   any security interest to which any property acquired by the Debtor
            is subject at the time of acquisition or which is granted by the
            Debtor on the property so acquired to any person to secure the
            indebtedness for any unpaid portion of the purchase price or to
            secure indebtedness incurred to pay the purchase price or any
            portion thereof of such property so acquired (including the
            principal amount of, interest on and costs of collection relating to
            any such indebtedness) or which secures any
<PAGE>
                                      -3-

            extension, renewal, replacement or refunding of any such
            indebtedness (including, without limitation, any indebtedness
            secured by a security interest to which any such property so
            acquired was subject at the time of acquisition).

2.04 The Debtor shall not without the prior consent in writing of the Secured
Party, which consent shall not be unreasonably withheld, and other than in the
ordinary course of business, transfer or assign or suffer or permit any material
change in the ownership of the Charged Property.

2.05 Instantly and immediately upon the Security becoming enforceable hereunder,
the floating charge shall crystalize and exist and operate as a specific charge
on the Charged Property having priority over all claims, whether proprietary or
personal, of all creditors (whether secured or unsecured) and of all purchasers
(whether absolute or by way of security), save and except for such interests
that exist at the time the Security becomes enforceable.

2.06 The Security shall not extend or apply:

      (a)   to create a Security Interest in any contractual right to any extent
            which, by its terms, is non-assignable or where the creation of the
            Security Interest otherwise constituted hereby would constitute a
            breach thereof, but the Debtor shall stand possessed of its rights
            under any such contract in trust to, upon the Security hereby
            constituted becoming enforceable, and subject to any prior permitted
            dealing therewith, assign and dispose of same in trust as the
            Secured Party may direct; and

      (b)   to the last day of the term of any lease or any agreement to lease
            (whether now held or hereafter acquired by the Debtor) nor shall the
            last day of any such lease or agreement to lease form part of the
            Charged Property, but the Debtor shall stand possessed of such last
            day in trust to assign and dispose of the same as the Secured Party
            shall direct upon the Security hereby constituted becoming
            enforceable.

2.07 The Secured Party may at his discretion at all times release any part or
parts of the Charged Property or any other security or surety for the money
hereby secured either with or without any sufficient consideration therefor, and
without responsibility therefor, and without thereby releasing any other part of
the Charged Property or any person from this General Security Agreement or from
any of the covenants herein contained, it being especially agreed that every
part of the Charged Property into which the Charged Property is or may hereafter
be divided does and shall stand charged with the whole money hereby secured and
no person shall have the right to require the Indebtedness of the Debtor to be
apportioned among the Charged Property; and without being accountable to the
Debtor for value thereof, over any monies except those actually received by the
Secured Party.

2.08 The Debtor hereby covenants and agrees that it will at all times do,
execute, acknowledge and deliver all such further acts, deeds, transfers,
assignments and assurances as the
<PAGE>
                                      -4-

Secured Party may reasonably require for the better assuring, mortgaging,
charging and confirming of the Charged Property to the Secured Party.

2.09 The Debtor covenants with the Secured Party that:

            (i)   Subject to a charge in favour of the Toronto-Dominion Bank,
                  the Debtor has good title to the Charged Property free and
                  clear of any charges or encumbrances ranking in parity with or
                  prior to the specific mortgage and charge of this General
                  Security Agreement save and except as herein permitted, and
                  that it will defend the title of such property and any
                  property or rights hereafter acquired by it, for the benefit
                  of the Secured Party;

           (ii)   the Debtor has the right to convey the Charged Property to the
                  Secured Party;

          (iii)   on default the Secured Party shall have quiet possession of
                  the Charged Property free from all encumbrances except those
                  encumbrances which are permitted hereunder;

           (iv)   the Debtor will execute such further assurances of the Charged
                  Property as may be requisite;

            (v)   the Debtor has done no act to encumber the Charged Property
                  which has not been disclosed to the Secured Party in writing;

           (vi)   the Debtor will insure the Charged Property to the amount of
                  not less than its full insurable value in lawful money of
                  Canada;

          (vii)   the Debtor releases to the Secured Party all its claims upon
                  the Charged Property subject to their rights to redeem on
                  payment of all outstanding indebtedness to the Secured Party.

         (viii)   until default of payment, the Debtor shall have quiet
                  possession of the Charged Property;

           (ix)   the provisos and covenants contained in this subparagraph
                  shall apply with the necessary changes to all the leasehold
                  interests of the Debtor included in the Charged Property.

2.10 The Secured Party hereby agrees to give any acknowledgement as may be
required, from time to time, by The Toronto-Dominion Bank to acknowledge the
priority of any security interest in favour of The Toronto-Dominion Bank over
the Security Interest hereby created.

2.11 Attachment. The Debtor and the Secured Party hereby agree that the Security
Interest in the Charged Property shall attach upon the obtaining of any interest
therein by the
<PAGE>
                                      -5-

Debtor, and thereafter shall be a fixed and specific charge on the Charged
Property. If title to the Charged Property has not passed to the Debtor on the
date hereof, it is hereby acknowledged by the Debtor that this General Security
Agreement creates a purchase money security interest with respect thereto.

3.    Representations and Warranties

3.01 The Debtor hereby represents and warrants to the Secured Party that, as of
the date hereof:

      (a)   it is duly constituted and validly subsisting and in good standing
            under the laws of Canada and has the power and authority to carry on
            the business now being conducted by it and is duly registered and
            licenced to carry on such business;

      (b)   the execution and delivery of this General Security Agreement;

            (i)   is within its power and has been duly authorized by all
                  necessary corporate action; and

            (ii)  will not contravene or constitute a breach of or a default
                  under any agreement, instrument or undertaking whatsoever to
                  which the Debtor is a party;

      (c)   there are no legal proceedings pending or to its knowledge
            threatened before any court or administrative agency which would
            materially and adversely affect the financial condition of the
            Debtor or its interest in the Charged Property.

4.    Covenants

4.01 Except for security interests permitted by Section 2.03 hereto, from and
after the date hereof and for so long as this General Security Agreement shall
remain outstanding, the Debtor covenants with the Secured Party that:

      (a)   it will maintain its existence in good standing, and will diligently
            carry on and conduct its business in a proper, efficient and
            businesslike manner and in accordance with good business practice so
            as to preserve and protect the Charged Property and the earnings,
            income, rents, issues and profits thereof and will cause to be
            maintained and repaired and kept in repair and in good working order
            and condition its plant, machinery, equipment, goods and chattels
            and pay all rents and observe all covenants reserved by and
            contained in any leases under which the Debtor holds any property;

      (b)   the Debtor will duly and punctually observe and perform all of the
            covenants, conditions and agreements to be observed and performed on
            the part of the Debtor pursuant to any agreement now, hereafter or
            previously entered into between the Debtor and the Secured Party;
<PAGE>

                                     - 6 -

      (c)   the Debtor shall take out and keep in full force and effect, in the
            name of the Debtor, and the Secured Party (as their interests may
            appear), insurance in form and for insurance risks against which a
            prudent individual owning similar properties and carrying on a
            similar business and similar activities to that of the Debtor in
            would insure, to the full insurable value thereof and in amounts as
            required by the Secured Party. At the request of the Secured Party,
            the Debtor shall furnish to the Secured Party certificates of such
            insurance policies and the coverage affected thereby;

      (d)   the Debtor will not create, assume or suffer to exist or permit the
            creation, assumption or suffer to exist any liens, mortgages,
            charges, claims, security interest or other encumbrances against or
            with respect to all or any part of the Charged Property, except with
            the prior consent of the Secured Party not to unreasonably withheld
            and save as may otherwise be provided herein;

      (e)   Except as provided in Section 2.02 hereof, the Debtor shall not
            sell, lease or otherwise dispose of the Charged Property or any part
            thereof;

      (f)   the Debtor will pay all applicable taxes, rates, duties and
            assessments levied, assessed or imposed upon them in relation to the
            Charged Property, or any part thereof, as and when the same become
            due and payable and will, if and when required by the Secured Party,
            furnish the Secured Party for inspection with receipts for any of
            such payments;

      (g)   the Debtor will comply with all laws, regulations and orders of all
            governmental authorities having jurisdiction over the Charged
            Property or the business and activities from time to time carried on
            by the Debtor;

      (h)   the Debtor will specifically mortgage and charge in favour of the
            Secured Party, the right, title and interest of the Debtor in all
            equipment, machinery, vehicles and other tangible personal property
            which the Debtor shall hereafter acquire, and shall execute all such
            conveyances, mortgages and transfers as may be reasonably required
            in connection therewith;

5.    Default

5.01 All monies hereby secured, together with interest thereon as aforesaid,
shall become payable and the Security shall become enforceable immediately upon
the occurrence or happening of any one of the following events provided that the
same has not been remedied within fifteen (15) days after the date on which
notice has been given to the Debtor:

      (a)   Failure of the Debtor to pay any installment of interest and/or
            principal and/or taxes due under this General Security Agreement
            within fifteen (15) days of the date upon which the sum becomes due;
<PAGE>
                                     - 7 -

      (b)   Failure of the Debtor or of a guarantor of the Debtor to observe or
            perform any condition or covenant herein or in the guarantee given
            by the said party or given pursuant to any other security given in
            connection with the Indebtedness hereby secured, which is not cured
            to the satisfaction of the Secured Party within fifteen (15) days of
            notice thereof sent by the Secured Party;

      (c)   Failure to keep any prior encumbrance on the Charged Property in
            good standing which is not cured to the satisfaction of the Secured
            Party within fifteen (15) days of notice thereof sent by the Secured
            Party;

      (d)   Default by the Debtor under the terms of the Lease;

      (e)   Without in any way limiting the prohibition contained in Article 2
            hereof, with respect to any or all of the Charged Property and in
            the event of default by virtue of the failure of the Debtor to
            observe or perform any condition or covenant herein:

            (i)   If there is registered a chattel mortgage, conditional sales
                  agreement or any security interest or encumbrance of any sort
                  against the components of the Charged Property without the
                  prior written consent of the Secured Party; or

            (ii)  If the Debtor creates or purports to create a mortgage,
                  charge, lien or encumbrance, security interest or financings,
                  whether prior or subordinate to the Secured Party's interest,
                  without the prior written consent of the Secured Party, not to
                  be unreasonably withheld, with respect to the Charged
                  Property;

      (f)   If there is a failure of the Debtor or any other party liable for
            the Indebtedness or any part or parts thereof, to observe or perform
            any condition or covenant as set out in this General Security
            Agreement, the Lease or in any other document given to secure the
            Indebtedness or any part or parts thereof, or if any representation
            or warranty herein given is discovered to be untrue or becomes
            untrue in a material manner;

      (g)   if an agreement is entered into to or an order is made for the
            dissolution of the Debtor, or if a petition is filed for the
            dissolution of the Debtor;

      (h)   if the Debtor becomes insolvent or makes a general authorized
            assignment for the benefit of its creditors or otherwise
            acknowledges its insolvency; or if the Debtor makes a bulk sale of
            its assets; or if a bankruptcy petition or receiving order is filed
            or presented against the Debtor;

      (i)   if any execution, sequestration, extent or any other process of any
            court becomes enforceable against the Debtor or any of them or if a
            distress or analogous process is levied upon the property of the
            Debtor or any part thereof;
<PAGE>
                                     - 8 -

      (j)   if the Debtor ceases or threatens to cease to carry on its business
            or if the Debtor commits or threatens to commit any act of
            bankruptcy;

      (k)   if the Debtor makes default in payment of any indebtedness or
            liability to the Secured Party, whether secured hereby or not;

      (l)   if the Debtor permits any sum which has been admitted as due by the
            Debtor or is not disputed to be due by it and which forms or is
            capable of being made a charge upon any of the Charged Property in
            priority to the charge created by this General Security Agreement to
            remain unpaid for fifteen (15) days after proceedings have been
            taken to enforce the same as such a prior charge.

5.02 The Secured Party may waive, expressly or by implication, any breach by the
Debtor of any of the provisions contained in this General Security Agreement or
any default by the Debtor in the observance or performance of any covenant or
condition required to be observed or performed by the Debtor under the terms of
this General Security Agreement, but no act or omission by the Secured Party in
the waiver of a particular breach or default shall extend to or be taken in any
manner whatsoever to affect any subsequent breach or default or the rights
resulting therefrom.

6.    Enforcement

6.01 When the Security has become enforceable, the Secured Party may realize
upon the Security and enforce its rights by the following remedies:

      (a)   the Secured Party may enter into and take possession of all or any
            part of the Charged Property, with full power to manage such
            property and to borrow in the Debtor's name or in its own name or
            advance money at such rates of interest as it may deem reasonable
            for the purpose of such management, the maintenance and preservation
            of such property and replacement thereof, the sale or lease or
            concurrence in selling or leasing all or any part of the Charged
            Property whether by public auction or by private sale or lease in
            such manner as it may seem right (provided always that it shall not
            be incumbent on the Secured Party to sell, lease or dispose of the
            Charged Property but that it shall and may be lawful for the Secured
            Party peaceably and quietly to take, hold, use, occupy, possess and
            enjoy the Charged Property without molestation, eviction, hindrance
            or interruption of the Debtor or any other person or persons
            whomsoever and to convey, transfer and assign to a purchaser or
            purchasers to title to any undertaking, property and assets so
            sold). It shall also have full power to borrow or advance money for
            the payment of taxes, wages, current operating expenses and other
            charges and to receive the revenues, incomes and profits of the
            Charged Property and to pay therefrom all its expenses, charges and
            advances in carrying on such management;

      (b)   the Secured Party may proceed in any court of competent jurisdiction
            for the appointment of a receiver (which term as used in this
            General Security Agreement includes a receiver and manager) over all
            or any part of the Charged Property;
<PAGE>
                                     - 9 -

      (c)   the Secured Party may proceed in any court of competent jurisdiction
            for sale of all or any part of the Charged Property;

      (d)   the Secured Party may file proofs of claim and other documents to
            establish its claim in any proceeding relative to the Debtor;

      (e)   the Secured Party may initiate and pursue any other remedy or
            proceeding authorized or permitted hereby or by law or equity.

            Such remedies may be exercised from time to time separately or in
combination and are in addition to and not in substitution for any other rights
of the Secured Party however created.

6.02 Whenever the security hereby constituted shall have become enforceable and
so long as it shall remain enforceable, the Secured Party may by instrument in
writing appoint any person to be a receiver (which term shall include a receiver
and manager) of the Charged Property including any rents and profits thereof and
may remove any receiver and appoint another in his stead, and such receiver so
appointed shall have power to take possession of the Charged Property and to
carry on or concur in carrying on the business of the Debtor and to sell or
concur in selling any or all of the Charged Property. The rights and powers
conferred by this paragraph are in supplement of and not in substitution for any
other rights of the Secured Party. Any such receiver may be vested with all or
any of the powers and discretions of the Secured Party. The receiver shall have
all of the powers of the Secured Party set out in paragraph 6.01 of this General
Security Agreement.

            In addition to the powers set out above, the receiver shall have the
following powers:

      (i)   to take possession of the Charged Property;

      (ii)  to carry on and to concur in carrying on the business of the Debtor;

      (iii) with the consent of the Secured Party to borrow money in his name or
            in the Debtor's name, for the purpose of carrying on the business of
            the Debtor and for the preservation and realization of the
            undertaking, property and assets of the Debtor which shall include
            without limiting the generality of the foregoing the right to make
            payments to persons having prior mortgages, charges or encumbrances
            on properties on which the Debtor may hold mortgages, charges or
            encumbrances;

      (iv)  to issue certificates constituting the amount so borrowed and any
            interest thereon to be a charge upon the Charged Property in
            priority to the General Security Agreement;
<PAGE>
                                     - 10 -

      (v)   to sell or lease and to concur in selling or leasing all or any part
            of the Charged Property and to convey, transfer and assign to a
            purchaser or purchasers the title to any of the undertaking,
            property or assets so sold.

            The receiver shall for all purposes be deemed to be the agent of the
Debtor and not of the Secured Party, and the Debtor shall be solely responsible
for his acts or defaults and for his remuneration. All monies from time to time
received by the receiver shall be applied as follows:

      (a)   firstly, in discharge of all operating expenses and other outgoings
            affecting the Charged Property;

      (b)   secondly, in keeping in good standing all charges and liens on the
            Charged Property having priority over the security;

      (c)   thirdly, in payment of the remuneration and disbursements of the
            receiver;

      (d)   fourthly, in payment to the Secured Party of the monies payable
            hereunder; and

      (e)   the balance, if any, shall be paid to the Debtor.

            The Secured Party, in appointing or refraining from appointing such
receiver, shall not incur any liability to the receiver, the Debtor or
otherwise. In exercising the foregoing powers, any such receiver shall have the
power to borrow and create obligations and have security, whether by way of
receiver's certificate or otherwise, for any such borrowing or obligation upon
all or any part of the Charged Property in priority to the security hereby
constituted.

6.03 The Debtor  agrees to pay to the Secured  Party,  forthwith on demand,  all
costs,  charges and expenses  (including all legal fees) incurred by the Secured
Party in connection  with the recovery or  enforcement  of payment of any monies
owing  hereunder  whether by realization or otherwise.  All such sums,  together
with interest thereon at the rate set forth for the principal sum herein,  shall
be added to the  Indebtedness  secured by this General  Security  Agreement  and
shall become part thereof and also be secured hereby.

6.04 Upon the Debtor  receiving  notice from the Secured  Party of the taking of
possession  of the  Charged  Property,  all the  powers,  functions,  rights and
privileges  of each and every of the  directors  and officers of the Debtor with
respect to the business of the Debtor in relation to the Charged  Property shall
cease unless specifically continued by the written consent of the Secured Party.

6.05 The Debtor hereby irrevocably appoints the Secured Party to be the attorney
of the Debtor for and in the name and on behalf of the Debtor to execute  and do
any deeds, documents, transfers, demands, assignments,  assurances, consents and
things which the Debtor ought to sign, execute and do hereunder and generally to
use the name of the Debtor in the
<PAGE>
                                     - 11 -

exercise of all or any of the powers hereby confirmed on the Secured Party and
any receiver appointed with full powers of substitution and revocation.

7.    General

7.01 No consent or waiver by the Secured Party of any breach by the Debtor of
any of the provisions contained in this General Security Agreement shall be
effective unless made in writing and signed by an authorized officer of the
Secured Party, provided that no such waiver or consent shall extend to or be
taken in any manner to affect any subsequent breach or failure or the rights
resulting therefrom.

7.02 Neither the taking of any judgment nor the exercise of any power of seizure
or sale shall operate to extinguish the liability of the Debtor to pay the
monies hereby secured nor shall the same operate as a merger of any covenant
herein contained or affect the right of the Secured Party to interest at the
rate specified due on the principal sum secured by the Mortgage.

7.03 The Security hereby constituted is in addition to any other security now or
hereafter held by the Secured Party. The taking of any action, or proceeding or
refraining from doing so, or any other dealings with any other security for the
money secured hereby, shall not release or affect the Security.

7.04 Any insurance moneys received by the Secured Party pursuant to this General
Security Agreement may, at the option of the Secured Party, be applied to
rebuilding or repairing the Charged Property or any part thereof, or be paid to
the Debtor, or any such moneys may be applied, in the sole discretion of the
Secured Party, in whole or in part, to the repayment of the sum secured hereby
or any part thereof, whether then due or not.

7.05 The Debtor hereby covenants and agrees with the Secured Party that they
will at all times do, execute, acknowledge and deliver or cause to be done,
executed, acknowledged or delivered, all and every such further act, deeds,
mortgages, transfers and assurances in law as the Secured Party shall reasonably
require for the better assuring, mortgaging, assigning and conferring unto the
Secured Party all and singular the Charged Property or intended so to be or
which the Debtor may hereafter become bound to mortgage and charge in favour of
the Secured Party for the better accomplishing and effecting the intention of
this General Security Agreement.

7.06 Any notice required or permitted to be given hereunder shall be given
either by personal delivery or by registered mail, postage prepaid, addressed to
the Secured Party or to the Debtor at their respective addresses as follows:

      If to the Secured Party, at:
                                   6th Floor
                                   8 Market Street
                                   Toronto, Ontario
                                   M5E 1M6
<PAGE>
                                     - 12 -

      If to the Debtor, at:        350 Steelcase Road West
                                   Markham, Ontario

                                   Attention:

or to such other address of which notice is given as herein provided. Any such
notice shall be deemed to have been received on the day of delivery (if
personally delivered) and at noon on the fifth business day following the day of
mailing (if mailed), or in the case of dispatch by telegraph, telex or similar
communication device, to have duly given eight hours after deposit for dispatch
in a public office for origination of such telecommunication or eight hours
after dispatch by means of a private telex or communication device.

7.07 This General Security Agreement shall be governed by and construed in
accordance with the laws of the Province of Ontario and the parties agree that
Ontario shall be the exclusive forum for the commencement and continuance of any
action in connection with this agreement.

7.08 This General Security Agreement shall enure to the benefit of the parties
hereto and their respective executors, administrators, beneficiaries, heirs,
successors and assigns.

            IN WITNESS WHEREOF the parties have hereunto affixed their corporate
seals and set their hands as of the day first above written.

                                          GEAC CANADA LIMITED

                                          by: "S. Sadler"
                                             ----------------------------------

                                          GUARSEL PARTNERSHIP

                                          by: "Guarsel Partnership"
                                             ----------------------------------

                                          by:
                                             ----------------------------------
<PAGE>
                           GENERAL SECURITY AGREEMENT

            THIS AGREEMENT made as of the 28th day of February, 1989.

B E T W E E N:

            GEAC COMPUTER CORPORATION LIMITED
            (the "Debtor")

                                                        PARTY OF THE FIRST PART;

            - and -

            GUARSEL PARTNERSHIP
            (the "Secured Party")

                                                        PARTY OF THE THIRD PART.

            WHEREAS the Debtor is the Indemnifier pursuant to an Indemnity
Agreement dated February 28, 1989, of the obligations of GEAC CANADA LIMITED
pursuant to a lease dated February 28, 1989 between GEAC CANADA LIMITED as
Tenant, the Secured Party as Landlord and the Debtor as Indemnifier (the
"Lease");

            AND WHEREAS to secure payment of all present and future indebtedness
and liability of the Debtor to the Secured Party, including without limitation
to secure the Debtor's liability to the Secured Party under the Indemnity made
by the Debtor pursuant to the Lease, the Debtor has agreed to grant to the
Secured Party a Security Interest in the Charged Property as hereinafter
defined.

            NOW THEREFORE IN CONSIDERATION of the premises and other good and
valuable consideration, the Debtor agrees to grant a security interest in the
Charged Property to the Secured Party upon and subject to the terms hereinafter
contained:

1.    Definitions

1.01 In this agreement, the "Act" shall mean the Personal Property Security Act,
R.S.O. 1980, c. 375, as amended or re-enacted from time to time, and a "security
interest", "purchase-money security interest", "perfect" and "perfection" shall
have the same meanings as are given to such words and phrases respectively in
the Act.

2.    Security

2.01 As security for the due payment of the Indebtedness owing by the Debtor to
the Secured Party and as security for the performance by the Debtor of all of
its secured obligations hereunder, the Debtor hereby grants, assigns, pledges,
mortgages and charges in favour of the Secured Party:
<PAGE>
                                     - 2 -

      (a)   As and by way of a fixed and specific mortgage and charge, all
            property and assets, personal and moveable of whatsoever nature and
            kind, both present and future, including all machinery, equipment,
            vehicles, trade fixtures, furniture, equipment, inventory,
            stock-in-trade, supplies, accounts receivable and other tangible
            personal property now or hereafter owned or acquired by the Debtor.

      (b)   As and by way of a floating charge, to and in favour of the Secured
            Party, all the Debtor's undertaking, property and assets, both
            present and future, real and personal, moveable and immovable, legal
            and equitable, tangible and intangible, of every nature and kind and
            wherever situate (including, without limitation, its goodwill and
            licences).

            In this General Security Agreement, the mortgage and charge hereby
constituted is called the "Security" and sometimes "Security Interest" and the
subject matter of the Security is called the "Charged Property".

            TO HAVE AND TO HOLD ALL AND SINGULAR the Charged Property and the
mortgage, pledge and charge thereof and all rights conferred herein unto the
Secured Party, its successors and assigns forever.

2.02 Until the Security hereby constituted shall become enforceable, the Debtor
may without the consent of the Secured Party, sell or otherwise dispose of any
property, from time to time, forming part of the Charged Property (other than
the Lease and its rights thereunder); provided that there shall be substituted
therefor, subject to the Security Interest of this General Security Agreement,
property which the Debtor, acting reasonably, believes to be of equal value. Any
property sold or otherwise disposed of pursuant to this Section 2.02 shall upon
disposition be no longer subject to the Security Interest hereby created.
Nothing in this General Security Agreement shall prevent or in any way hinder
the Debtor, so long as the Security hereby constituted shall not have become
enforceable, from carrying on its business in the ordinary course including,
without consent of or release from the Secured Party, from validly and
effectively entering into, amending and terminating contracts, from time to
time, and satisfying in the ordinary course its liabilities and obligations.

2.03 The Debtor shall not (without the prior written consent of the Secured
Party) create, assume or have outstanding, except to the Secured Party, any
mortgage, charge, security interest or other encumbrance on all or any part of
the Charged Property, which would rank in priority to or pari passu with the
security constituted by this General Security Agreement other than:

      (a)   security interests, from time to time, granted in favour of The
            Toronto-Dominion Bank (or any successor in interest thereto by
            assignment or otherwise);

      (b)   any security interest to which any property acquired by the Debtor
            is subject at the time of acquisition or which is granted by the
            Debtor on the property so acquired to any person to secure the
            indebtedness for any unpaid portion of the purchase price or to
            secure indebtedness incurred to pay the purchase price or any
            portion
<PAGE>
                                     - 3 -

            thereof of such property so acquired (including the principal amount
            of, interest on and costs of collection relating to any such
            indebtedness) or which secures any extension, renewal, replacement
            or refunding of any such indebtedness (including, without
            limitation, any indebtedness secured by a security interest to which
            any such property so acquired was subject at the time of
            acquisition).

2.04 The Debtor shall not without the prior consent in writing of the Secured
Party, which consent shall not be unreasonably withheld, and other than in the
ordinary course of business, transfer or assign or suffer or permit any material
change in the ownership of the Charged Property.

2.05 Instantly and immediately upon the Security becoming enforceable hereunder,
the floating charge shall crystalize and exist and operate as a specific charge
on the Charged Property having priority over all claims, whether proprietary or
personal, of all creditors (whether secured or unsecured) and of all purchasers
(whether absolute or by way of security), save and except for such interests
that exist at the time the Security becomes enforceable.

2.06 The Security shall not extend or apply:

      (a)   to create a Security Interest in any contractual right to any extent
            which, by its terms, is non-assignable or where the creation of the
            Security Interest otherwise constituted hereby would constitute a
            breach thereof, but the Debtor shall stand possessed of its rights
            under any such contract in trust to, upon the Security hereby
            constituted becoming enforceable, and subject to any prior permitted
            dealing therewith, assign and dispose of same in trust as the
            Secured Party may direct; and

      (b)   to the last day of the term of any lease or any agreement to lease
            (whether now held or hereafter acquired by the Debtor) nor shall the
            last day of any such lease or agreement to lease form part of the
            Charged Property, but the Debtor shall stand possessed of such last
            day in trust to assign and dispose of the same as the Secured Party
            shall direct upon the Security hereby constituted becoming
            enforceable.

2.07 The Secured  Party may at his  discretion  at all times release any part or
parts of the  Charged  Property  or any other  security  or surety for the money
hereby secured either with or without any sufficient consideration therefor, and
without responsibility therefor, and without thereby releasing any other part of
the Charged Property or any person from this General Security  Agreement or from
any of the covenants herein  contained,  it being  especially  agreed that every
part of the Charged Property into which the charged Property is or may hereafter
be divided does and shall stand charged with the whole money hereby  secured and
no person shall have the right to require the  Indebtedness  of the Debtor to be
apportioned  among the Charged  Property;  and without being  accountable to the
Debtor for value thereof,  over any monies except those actually received by the
Secured Party.
<PAGE>
                                     - 4 -

2.08 The  Debtor  hereby  covenants  and  agrees  that it will at all  times do,
execute,  acknowledge  and  deliver all such  further  acts,  deeds,  transfers,
assignments  and assurances as the Secured Party may reasonably  require for the
better assuring, mortgaging,  charging and confirming of the Charged Property to
the Secured Party.

2.09 The Debtor covenants with the Secured Party that:

            (i)   Subject to a charge in favour of the Toronto-Dominion Bank,
                  the Debtor has good title to the Charged Property free and
                  clear of any charges or encumbrances ranking in parity with or
                  prior to the specific mortgage and charge of this General
                  Security Agreement save and except as herein permitted, and
                  that it will defend the title of such property and any
                  property or rights hereafter acquired by it, for the benefit
                  of the Secured Party;

            (ii)  the Debtor has the right to convey the Charged Property to the
                  Secured Party;

            (iii) on default the Secured Party shall have quiet possession of
                  the Charged Property free from all encumbrances except those
                  encumbrances which are permitted hereunder;

            (iv)  the Debtor will execute such further assurances of the Charged
                  Property as may be requisite;

            (v)   the Debtor has done no act to encumber the Charged Property
                  which has not been disclosed to the Secured Party in writing;

            (vi)  the Debtor will insure the Charged Property to the amount of
                  not less than its full insurable value in lawful money of
                  Canada;

            (vii) the Debtor releases to the Secured Party all its claims upon
                  the Charged Property subject to their rights to redeem on
                  payment of all outstanding indebtedness to the Secured Party.

           (viii) until default of payment, the Debtor shall have quiet
                  possession of the Charged Property;

            (ix)  the provisos and covenants contained in this subparagraph
                  shall apply with the necessary changes to all the Leasehold
                  interests of the Debtor included in the Charged Property.

2.10 The Secured Party hereby agrees to give any acknowledgement as may be
required, from time to time, by The Toronto-Dominion Bank to acknowledge the
priority of any security interest in favour of The Toronto-Dominion Bank over
the Security Interest hereby created.
<PAGE>
                                     - 5 -

2.11 Attachment. The Debtor and the Secured Party hereby agree that the Security
Interest in the Charged Property shall attach upon the obtaining of any interest
therein by the Debtor,  and thereafter  shall be a fixed and specific  charge on
the Charged  Property.  If title to the Charged  Property  has not passed to the
Debtor on the date  hereof,  it is hereby  acknowledged  by the Debtor that this
General  Security  Agreement  creates a purchase  money  security  interest with
respect thereto.

3.    Representations and Warranties

3.01 The Debtor hereby represents and warrants to the Secured Party that, as of
the date hereof:

      (a)   it is duly constituted and validly subsisting and in good standing
            under the laws of Canada and has the power and authority to carry on
            the business now being conducted by it and is duly registered and
            licenced to carry on such business;

      (b)   the execution and delivery of this General Security Agreement:

            (i)   is within its power and has been duly authorized by all
                  necessary corporate action; and

            (ii)  will not contravene or constitute a breach of or a default
                  under any agreement, instrument or undertaking whatsoever to
                  which the Debtor is a party;

      (c)   there are no legal proceedings pending or to its knowledge
            threatened before any court or administrative agency which would
            materially and adversely affect the financial condition of the
            Debtor or its interest in the Charged Property.

4.    Covenants

4.01 Except for security interests permitted by Section 2.03 hereto, from and
after the date hereof and for so long as this General Security Agreement shall
remain outstanding, the Debtor covenants with the Secured Party that:

      (a)   it will maintain its existence in good standing, and will diligently
            carry on and conduct its business in a proper, efficient and
            businesslike manner and in accordance with good business practice so
            as to preserve and protect the Charged Property and the earnings,
            income, rents, issues and profits thereof and will cause to be
            maintained and repaired and kept in repair and in good working order
            and condition its plant, machinery, equipment, goods and chattels
            and pay all rents and observe all covenants reserved by and
            contained in any leases under which the Debtor holds any property;

      (b)   the Debtor will duly and punctually observe and perform all of the
            covenants, conditions and agreements to be observed and performed on
            the part of the Debtor
<PAGE>
                                     - 6 -

            pursuant to any agreement now, hereafter or previously entered into
            between the Debtor and the Secured Party;

      (c)   the Debtor shall take out and keep in full force and effect, in the
            name of the Debtor, and the Secured Party (as their interests may
            appear), insurance in form and for insurance risks against which a
            prudent individual owning similar properties and carrying on a
            similar business and similar activities to that of the Debtor in
            would insure, to the full insurable value thereof and in amounts as
            required by the Secured Party. At the request of the Secured Party,
            the Debtor shall furnish to the secured Party certificates of such
            insurance policies and the coverage affected thereby;

      (d)   the Debtor will not create, assume or suffer to exist or permit the
            creation, assumption or suffer to exist any liens, mortgages,
            charges, claims, security interest or other encumbrances against or
            with respect to all or any part of the charged Property, except with
            the prior consent of the Secured Party not to unreasonably withheld
            and save as may otherwise be provided herein;

      (e)   Except as provided in Section 2.02 hereof, the Debtor shall not
            sell, lease or otherwise dispose of the Charged Property or any part
            thereof;

      (f)   the Debtor will pay all applicable taxes, rates, duties and
            assessments levied, assessed or imposed upon them in relation to the
            Charged Property, or any part thereof, as and when the same become
            due and payable and will, if and when required by the Secured Party,
            furnish the Secured Party for inspection with receipts for any of
            such payments;

      (g)   the Debtor will comply with all laws, regulations and orders of all
            governmental authorities having jurisdiction over the Charged
            Property or the business and activities from time to time carried on
            by the Debtor;

      (h)   the Debtor will specifically mortgage and charge in favour of the
            Secured Party, the right, title and interest of the Debtor in all
            equipment, machinery, vehicles and other tangible personal property
            which the Debtor shall hereafter acquire, and shall execute all such
            conveyances, mortgages and transfers as may be reasonably required
            in connection therewith;

5.    Default

5.01 All monies hereby  secured,  together  with interest  thereon as aforesaid,
shall become payable and the Security shall become enforceable  immediately upon
the occurrence or happening of any one of the following events provided that the
same has not been  remedied  within  fifteen  (15) days  after the date on which
notice has been given to the Debtor:
<PAGE>
                                     - 7 -

      (a)   Failure of the Debtor to pay any installment of interest and/or
            principal and/or taxes due under this General Security Agreement
            within fifteen (15) days of the date upon which the sum becomes due;

      (b)   Failure of the Debtor or of a guarantor of the Debtor to observe or
            perform any condition or covenant herein or in the guarantee given
            by the said party or given pursuant to any other security given in
            connection with the Indebtedness hereby secured, which is not cured
            to the satisfaction of the Secured Party within fifteen (15) days of
            notice thereof sent by the Secured Party;

      (c)   Failure to keep any prior encumbrance on the Charged Property in
            good standing which is not cured to the satisfaction of the Secured
            Party within fifteen (15) days of notice thereof sent by the Secured
            Party;

      (d)   Default by the Debtor under the terms of the Lease;

      (e)   Without in any way limiting the prohibition contained in Article 2
            hereof, with respect to any or all of the Charged Property and in
            the event of default by virtue of the failure of the Debtor to
            observe or perform any condition or covenant herein:

            (i)   If there is registered a chattel mortgage, conditional sales
                  agreement or any security interest or encumbrance of any sort
                  against the components of the Charged Property without the
                  prior written consent of the Secured Party; or

            (ii)  If the Debtor creates or purports to create a mortgage,
                  charge, lien or encumbrance, security interest or financings,
                  whether prior or subordinate to the Secured Party's interest,
                  without the prior written consent of the Secured Party, not to
                  be unreasonably withheld, with respect to the Charged
                  Property;

      (f)   If there is a failure of the Debtor or any other party liable for
            the Indebtedness or any part or parts thereof, to observe or perform
            any condition or covenant as set out in this General Security
            Agreement, the Lease or in any other document given to secure the
            Indebtedness or any part or parts thereof, or if any representation
            or warranty herein given is discovered to be untrue or becomes
            untrue in a material manner;

      (g)   if an agreement is entered into to or an order is made for the
            dissolution of the Debtor, or if a petition is filed for the
            dissolution of the Debtor;

      (h)   if the Debtor becomes insolvent or makes a general authorized
            assignment for the benefit of its creditors or otherwise
            acknowledges its insolvency; or if the Debtor makes a bulk sale of
            its assets; or if a bankruptcy petition or receiving order is filed
            or presented against the Debtor;
<PAGE>
                                     - 8 -

      (i)   if any execution, sequestration, extent or any other process of any
            court becomes enforceable against the Debtor or any of them or if a
            distress or analogous process is levied upon the property of the
            Debtor or any part thereof;

      (j)   if the Debtor ceases or threatens to cease to carry on its business
            or if the Debtor commits or threatens to commit any act of
            bankruptcy;

      (k)   if the Debtor makes default in payment of any indebtedness or
            liability to the Secured Party, whether secured hereby or not;

      (l)   if the Debtor permits any sum which has been admitted as due by the
            Debtor or is not disputed to be due by it and which forms or is
            capable of being made a charge upon any of the charged Property in
            priority to the charge created by this General Security Agreement to
            remain unpaid for fifteen (15) days after proceedings have been
            taken to enforce the same as such a prior charge.

5.02 The Secured Party may waive, expressly or by implication, any breach by the
Debtor of any of the provisions  contained in this General Security Agreement or
any default by the Debtor in the  observance or  performance  of any covenant or
condition  required to be observed or performed by the Debtor under the terms of
this General Security Agreement,  but no act or omission by the Secured Party in
the waiver of a particular  breach or default shall extend to or be taken in any
manner  whatsoever  to affect  any  subsequent  breach or  default or the rights
resulting therefrom.

6.    Enforcement

6.01 When the Security has become enforceable, the Secured Party may realize
upon the Security and enforce its rights by the following remedies:

      (a)   the Secured Party may enter into and take possession of all or any
            part of the Charged Property, with full power to manage such
            property and to borrow in the Debtor's name or in its own name or
            advance money at such rates of interest as it may deem reasonable
            for the purpose of such management, the maintenance and preservation
            of such property and replacement thereof, the sale or lease or
            concurrence in selling or leasing all or any part of the Charged
            Property whether by public auction or by private sale or lease in
            such manner as it may seem right (provided always that it shall not
            be incumbent on the Secured Party to sell, lease or dispose of the
            Charged Property but that it shall and may be lawful for the Secured
            Party peaceably and quietly to take, hold, use, occupy, possess and
            enjoy the Charged Property without molestation, eviction, hindrance
            or interruption of the Debtor or any other person or persons
            whomsoever and to convey, transfer and assign to a purchaser or
            purchasers to title to any undertaking, property and assets so
            sold). It shall also have full power to borrow or advance money for
            the payment of taxes, wages, current operating expenses and other
            charges and to receive the revenues, incomes and profits of the
            Charged Property and to pay therefrom all its expenses, charges and
            advances in carrying on such management;
<PAGE>
                                     - 9 -

      (b)   the Secured Party may proceed in any court of competent jurisdiction
            for the appointment of a receiver (which term as used in this
            General Security Agreement includes a receiver and manager) over all
            or any part of the Charged Property;

      (c)   the Secured Party may proceed in any court of competent jurisdiction
            for sale of all or any part of the Charged Property;

      (d)   the Secured Party may file proofs of claim and other documents to
            establish its claim in any proceeding relative to the Debtor;

      (e)   the Secured Party may initiate and pursue any other remedy or
            proceeding authorized or permitted hereby or by law or equity.

            Such remedies may be exercised from time to time separately or in
combination and are in addition to and not in substitution for any other rights
of the Secured Party however created.

6.02 Whenever the security hereby constituted shall have become enforceable and
so long as it shall remain enforceable, the Secured Party may by instrument in
writing appoint any person to be a receiver (which term shall include a receiver
and manager) of the Charged Property including any rents and profits thereof and
may remove any receiver and appoint another in his stead, and such receiver so
appointed shall have power to take possession of the Charged Property and to
carry on or concur in carrying on the business of the Debtor and to sell or
concur in selling any or all of the Charged Property. The rights and powers
conferred by this paragraph are in supplement of and not in substitution for any
other rights of the Secured Party. Any such receiver may be vested with all or
any of the powers and discretions of the Secured Party. The receiver shall have
all of the powers of the Secured Party set out in paragraph 6.01 of this General
Security Agreement.

            In addition to the powers set out above, the receiver shall have the
following powers:

            (i)   to take possession of the Charged Property;

            (ii)  to carry on and to concur in carrying on the business of the
                  Debtor;

            (iii) with the consent of the Secured Party to borrow money in his
                  name or in the Debtor's name, for the purpose of carrying on
                  the business of the Debtor and for the preservation and
                  realization of the undertaking, property and assets of the
                  Debtor which shall include without limiting the generality of
                  the foregoing the right to make payments to persons having
                  prior mortgages, charges or encumbrances on properties on
                  which the Debtor may hold mortgages, charges or encumbrances;
<PAGE>
                                     - 10 -

            (iv)  to issue certificates constituting the amount so borrowed and
                  any interest thereon to be a charge upon the Charged Property
                  in priority to the General Security Agreement:

            (v)   to sell or lease and to concur in selling or leasing all or
                  any part of the Charged Property and to convey, transfer and
                  assign to a purchaser or purchasers the title to any of the
                  undertaking, property or assets so sold.

            The receiver shall for all purposes be deemed to be the agent of the
Debtor and not of the Secured Party, and the Debtor shall be solely responsible
for his acts or defaults and for his remuneration. All monies from time to time
received by the receiver shall be applied as follows:

      (a)   firstly, in discharge of all operating expenses and other outgoings
            affecting the Charged Property;

      (b)   secondly, in keeping in good standing all charges and liens on the
            Charged Property having priority over the Security;

      (c)   thirdly, in payment of the remuneration and disbursements of the
            receiver:

      (d)   fourthly, in payment to the Secured Party of the monies payable
            hereunder; and

      (e)   the balance, if any, shall be paid to the Debtor.

            The Secured Party, in appointing or refraining from appointing such
receiver, shall not incur any liability to the receiver, the Debtor or
otherwise. In exercising the foregoing powers, any such receiver shall have the
power to borrow and create obligations and have security, whether by way of
receiver's certificate or otherwise, for any such borrowing or obligation upon
all or any part of the Charged Property in priority to the security hereby
constituted.

6.03 The Debtor agrees to pay to the Secured Party, forthwith on demand, all
costs. charges and expenses (including all legal fees) incurred by the Secured
Party in connection with the recovery or enforcement of payment of any monies
owing hereunder whether by realization or otherwise. All such sums, together
with interest thereon at the rate set forth for the principal sum herein, shall
be added to the Indebtedness secured by this General Security Agreement and
shall become part thereof and also be secured hereby.

6.04 Upon the Debtor receiving notice from the Secured Party of the taking of
possession of the Charged Property, all the powers, functions, rights and
privileges of each and every of the directors and officers of the Debtor with
respect to the business of the Debtor in relation to the Charged Property shall
cease unless specifically continued by the written consent of the Secured Party.

6.05 The Debtor hereby irrevocably appoints the Secured Party to be the attorney
of the Debtor for and in the name and on behalf of the Debtor to execute and do
any deeds,
<PAGE>
                                     - 11 -

documents, transfers, demands, assignments, assurances, consents and things
which the Debtor ought to sign, execute and do hereunder and generally to use
the name of the Debtor in the exercise of all or any of the powers hereby
confirmed on the Secured Party and any receiver appointed with full powers of
substitution and revocation.

7.    General

7.01 No consent or waiver by the Secured Party of any breach by the Debtor of
any of the provisions contained in this General Security Agreement shall be
effective unless made in writing and signed by an authorized officer of the
Secured Party, provided that no such waiver or consent shall extend to or be
taken in any manner to affect any subsequent breach or failure or the rights
resulting therefrom.

7.02 Neither the taking of any judgment nor the exercise of any power of seizure
or sale shall operate to extinguish the liability of the Debtor to pay the
monies hereby secured nor shall the same operate as a merger of any covenant
herein contained or affect the right of the Secured Party to interest at the
rate specified due on the principal sum secured by the Mortgage.

7.03 The Security hereby constituted is in addition to any other security now or
hereafter held by the Secured Party. The taking of any action, or proceeding or
refraining from doing so, or any other dealings with any other security for the
money secured hereby, shall not release or affect the Security.

7.04 Any insurance moneys received by the Secured Party pursuant to this General
Security Agreement may, at the option of the Secured Party, be applied to
rebuilding or repairing the Charged Property or any part thereof, or be paid to
the Debtor, or any such moneys may be applied, in the sole discretion of the
Secured Party, in whole or in part, to the repayment of the sum secured hereby
or any part thereof, whether then due or not.

7.05 The Debtor hereby covenants and agrees with the Secured Party that they
will at all times do, execute, acknowledge and deliver or cause to be done,
executed, acknowledged or delivered, all and every such further act, deeds,
mortgages, transfers and assurances in law as the Secured Party shall reasonably
require for the better assuring, mortgaging, assigning and conferring unto the
Secured Party all and singular the Charged Property or intended so to be or
which the Debtor may hereafter become bound to mortgage and charge in favour of
the Secured Party for the better accomplishing and effecting the intention of
this General Security Agreement.

7.06 Any notice required or permitted to be given hereunder shall be given
either by personal delivery or by registered mail, postage prepaid, addressed to
the Secured Party or to the Debtor at their respective addresses as follows:
<PAGE>
                                     - 12 -

      If to the Secured Party, at:

                           6th Floor
                           8 Market Street
                           Toronto, Ontario
                           M5E 1M6

      If to the Debtor, at:

                           350 Steelcase Road West
                           Markham, Ontario

                           Attention:

or to such other address of which notice is given as herein provided. Any such
notice shall be deemed to have been received on the day of delivery (if
personally delivered) and at noon on the fifth business day following the day of
mailing (if mailed), or in the case of dispatch by telegraph, telex or similar
communication device, to have duly given eight hours after deposit for dispatch
in a public office for origination of such telecommunication or eight hours
after dispatch by means of a private telex or communication device.

7.07 This General Security Agreement shall be governed by and construed in
accordance with the laws of the Province of Ontario and the parties agree that
Ontario shall be the exclusive forum for the commencement and continuance of any
action in connection with this agreement.

7.08 This General Security Agreement shall enure to the benefit of the parties
hereto and their respective executors, administrators, beneficiaries, heirs,
successors and assigns.

            IN WITNESS WHEREOF the parties have hereunto affixed their corporate
seals and set their hands as of the day first above written.

                                         GEAC COMPUTER CORPORATION LIMITED

                                         by:   "S. Sadler"
                                             ----------------------------------

                                         GUARSEL PARTNERSHIP

                                         by:   "Guarsel Partnership"
                                             ----------------------------------

                                         by:
                                             ----------------------------------
<PAGE>
                                  SCHEDULE "I"

                           GENERAL SECURITY AGREEMENT

            THIS AGREEMENT made as of the 28th day of February, 1989.

B E T W E E N:

            GEAC COMPUTER CORPORATION LIMITED
            (the "Debtor")

                                                        PARTY OF THE FIRST PART;

            - and -

            GUARSEL PARTNERSHIP
            (the "Secured Party")

                                                        PARTY OF THE THIRD PART.

            WHEREAS the Debtor is the Indemnifier of the obligations of GEAC
CANADA LIMITED pursuant to a lease dated February 28, 1989 between GEAC CANADA
LIMITED as Tenant, the Secured Party as Landlord and the Debtor as Indemnifier
(the "Lease"):

            AND WHEREAS to secure payment of all present and future indebtedness
and liability of the Debtor to the Secured Party, including without limitation
to secure the Debtor's liability to the Secured Party under the Indemnity made
by the Debtor pursuant to the Lease, the Debtor has agreed to grant to the
Secured Party a Security Interest in the Charged Property as hereinafter
defined.

            NOW THEREFORE IN CONSIDERATION of the premises and other good and
valuable consideration, the Debtor agrees to grant a security interest in the
charged Property to the Secured Party upon and subject to the terms hereinafter
contained:

1.    Definitions

1.01 In this agreement, the "Act" shall mean the Personal Property Security Act,
R.S.O. 1980, c. 375, as amended or re-enacted from time to time, and a "security
interest", "purchase-money security interest", "perfect" and "perfection" shall
have the same meanings as are given to such words and phrases respectively in
the Act.

2.    Security

2.01 As security for the due payment of the Indebtedness owing by the Debtor to
the Secured Party and as security for the performance by the Debtor of all of
its secured obligations hereunder, the Debtor hereby grants, assigns, pledges,
mortgages and charges in favour of the Secured Party:

      (a)   As and by way of a fixed and specific mortgage and charge, all
            property and assets, personal and moveable of whatsoever nature and
            kind, both present and future, including all machinery, equipment,
            vehicles, trade fixtures, furniture, equipment, inventory,
            stock-in-trade, supplies, accounts receivable and other tangible
            personal property now or hereafter owned or acquired by the Debtor.

      (b)   As and by way of a floating charge, to and in favour of the Secured
            Party, all the Debtor's undertaking, property and assets, both
            present and future, real and personal, moveable and immovable, legal
            and equitable, tangible and intangible, of every nature and kind and
            wherever situate (including, without limitation, its goodwill and
            licences).
<PAGE>
                                     - 2 -

            In this General Security Agreement, the mortgage and charge hereby
constituted is called the "Security" and sometimes "Security Interest" and the
subject matter of the security is called the "`Charged Property"'.

            TO HAVE AND TO HOLD ALL AND SINGULAR the Charged Property and the
mortgage, pledge and charge thereof and all rights conferred herein unto the
Secured Party, its successors and assigns forever.

2.02 Until the security hereby constituted shall become enforceable, the Debtor
may without the consent of the Secured Party, sell or otherwise dispose of any
property, from time to time, forming part of the Charged Property (other than
the Lease and its rights thereunder); provided that there shall be substituted
therefor, subject to the Security Interest of this General Security Agreement,
property which the Debtor, acting reasonably, believes to be of equal value. Any
property sold or otherwise disposed of pursuant to this Section 2.02 shall upon
disposition be no longer subject to the Security Interest hereby created.
Nothing in this General Security Agreement shall prevent or in any way hinder
the Debtor, so long as the Security hereby constituted shall not have become
enforceable, from carrying on its business in the ordinary course including,
without consent of or release from the Secured Party, from validly and
effectively entering into, amending and terminating contracts, from time to
time, and satisfying in the ordinary course its liabilities and obligations.

2.03 The Debtor shall not (without the prior written consent of the Secured
Party) create, assume or have outstanding, except to the Secured Party, any
mortgage, charge, security interest or other encumbrance on all or any part of
the Charged Property, which would rank in priority to or pari passu with the
security constituted by this General Security Agreement other than:

      (a)   security interests, from time to time, granted in favour of The
            Toronto-Dominion Bank (or any successor in interest thereto by
            assignment or otherwise);

      (b)   any security interest to which any property acquired by the Debtor
            is subject at the time of acquisition or which is granted by the
            Debtor on the property so acquired to any person to secure the
            indebtedness for any unpaid portion of the purchase price or to
            secure indebtedness incurred to pay the purchase price or any
            portion thereof of such property so acquired (including the
            principal amount of, interest on and costs of collection relating to
            any such indebtedness) or which secures any extension, renewal,
            replacement or refunding of any such indebtedness (including,
            without limitation, any indebtedness secured by a security interest
            to which any such property so acquired was subject at the time of
            acquisition).

2.04 The Debtor shall not without the prior consent in writing of the Secured
Party, which consent shall not be unreasonably withheld, and other than in the
ordinary course of business, transfer or assign or suffer or permit any material
change in the ownership of the Charged Property.

2.05 Instantly and immediately upon the Security becoming enforceable hereunder,
the floating charge shall crystalize and exist and operate as a specific charge
on the Charged Property having priority over all claims, whether proprietary or
personal, of all creditors (whether secured or unsecured) and of all purchasers
(whether absolute or by way of security), save and except for such interests
that exist at the time the Security becomes enforceable.

2.06 The security shall not extend or apply:

      (a)   to create a Security Interest in any contractual right to any extent
            which, by its terms, is non-assignable or where the creation of the
<PAGE>
                                     - 3 -

            Security Interest otherwise constituted hereby would constitute a
            breach thereof, but the Debtor shall stand possessed of its rights
            under any such contract in trust to, upon the Security hereby
            constituted becoming enforceable, and subject to any prior permitted
            dealing therewith, assign and dispose of same in trust as the
            Secured Party may direct; and

      (b)   to the last day of the term of any lease or any agreement to lease
            (whether now held or hereafter acquired by the Debtor) nor shall the
            last day of any such lease or agreement to lease form part of the
            Charged Property, but the Debtor shall stand possessed of such last
            day in trust to assign and dispose of the same as the Secured Party
            shall direct upon the Security hereby constituted becoming
            enforceable.

2.07 The Secured Party may at his discretion at all times release any part or
parts of the Charged Property or any other security or surety for the money
hereby secured either with or without any sufficient consideration therefor, and
without responsibility therefor, and without thereby releasing any other part of
the Charged Property or any person from this General Security Agreement or from
any of the covenants herein contained, it being especially agreed that every
part of the Charged Property into which the Charged Property is or may hereafter
be divided does and shall stand charged with the whole money hereby secured and
no person shall have the right to require the Indebtedness of the Debtor to be
apportioned among the Charged Property; and without being accountable to the
Debtor for value thereof, over any monies except those actually received by the
Secured Party.

2.08 The Debtor hereby covenants and agrees that it will at all times do,
execute, acknowledge and deliver all such further acts, deeds, transfers,
assignments and assurances as the Secured Party may reasonably require for the
better assuring, mortgaging, charging and confirming of the Charged Property to
the Secured Party.

2.09 The Debtor covenants with the Secured Party that:

            (i)   Subject to a charge in favour of the Toronto-Dominion Bank,
                  the Debtor has good title to the Charged Property free and
                  clear of any charges or encumbrances ranking in parity with or
                  prior to the specific mortgage and charge of this General
                  Security Agreement save and except as herein permitted, and
                  that it will defend the title of such property and any
                  property or rights hereafter acquired by it, for the benefit
                  of the Secured Party;

            (ii)  the Debtor has the right to convey the Charged Property to the
                  Secured Party;

            (iii) on default the Secured Party shall have quiet possession of
                  the Charged Property free from all encumbrances except those
                  encumbrances which are permitted hereunder;

            (iv)  the Debtor will execute such further assurances of the charged
                  Property as may be requisite;

            (v)   the Debtor has done no act to encumber the Charged Property
                  which has not been disclosed to the Secured Party in writing;
<PAGE>
                                     - 4 -

            (vi)  the Debtor will insure the Charged Property to the amount of
                  not less than its full insurable value in lawful money of
                  Canada;

            (vii) the Debtor releases to the Secured Party all its claims upon
                  the Charged Property subject to their rights to redeem on
                  payment of all outstanding indebtedness to the Secured Party.

            (viii) until default of payment, the Debtor shall have quiet
                  possession of the Charged Property;

            (ix)  the provisos and covenants contained in this subparagraph
                  shall apply with the necessary changes to all the leasehold
                  interests of the Debtor included in the Charged Property.

2.10 The Secured Party hereby agrees to give any acknowledgement as may be
required, from time to time, by The Toronto-Dominion Bank to acknowledge the
priority of any security interest in favour of The Toronto-Dominion Bank over
the Security Interest hereby created.

2.11 Attachment. The Debtor and the Secured Party hereby agree that the Security
Interest in the Charged Property shall attach upon the obtaining of any interest
therein by the Debtor, and thereafter shall be a fixed and specific charge on
the Charged Property. If title to the Charged Property has not passed to the
Debtor on the date hereof, it is hereby acknowledged by the Debtor that this
General Security Agreement creates a purchase money security interest with
respect thereto.

3.    Representations and Warranties

3.01 The Debtor hereby represents and warrants to the Secured Party that, as of
the date hereof:

      (a)   it is duly constituted and validly subsisting and in good standing
            under the laws of Canada and has the power and authority to carry on
            the business now being conducted by it and is duly registered and
            licenced to carry on such business;

      (b)   the execution and delivery of this General Security Agreement:

            (i)   is within its power and has been duly authorized by all
                  necessary corporate action; and

            (ii)  will not contravene or constitute a breach of or a default
                  under any agreement, instrument or undertaking whatsoever to
                  which the Debtor is a party;

      (c)   there are no legal proceedings pending or to its knowledge
            threatened before any court or administrative agency which would
            materially and adversely affect the financial condition of the
            Debtor or its interest in the Charged Property.

4.    Covenants

4.01 Except for security interests permitted by Section 2.03 hereto, from and
after the date hereof and for so long as this General Security Agreement shall
remain outstanding, the Debtor covenants with the Secured Party that:

      (a)   it will maintain its existence in good standing, and will diligently
            carry on and conduct its business in a proper, efficient and
<PAGE>
                                     - 5 -

            businesslike manner and in accordance with good business practice so
            as to preserve and protect the Charged Property and the earnings,
            income, rents, issues and profits thereof and will cause to be
            maintained and repaired and kept in repair and in good working order
            and condition its plant, machinery, equipment, goods and chattels
            and pay all rents and observe all covenants reserved by and
            contained in any leases under which the Debtor holds any property;

      (b)   the Debtor will duly and punctually observe and perform all of the
            covenants, conditions and agreements to be observed and performed on
            the part of the Debtor pursuant to any agreement now, hereafter or
            previously entered into between the Debtor and the Secured Party;

      (c)   the Debtor shall take out and keep in full force and effect, in the
            name of the Debtor, and the Secured Party (as their interests may
            appear), insurance in form and for insurance risks against which a
            prudent individual owning similar properties and carrying on a
            similar business and similar activities to that of the Debtor in
            would insure, to the full insurable value thereof and in amounts as
            required by the Secured Party. At the request of the Secured Party,
            the Debtor shall furnish to the Secured Party certificates of such
            insurance policies and the coverage affected thereby;

      (d)   the Debtor will not create, assume or suffer to exist or permit the
            creation, assumption or suffer to exist any liens, mortgages,
            charges, claims, security interest or other encumbrances against or
            with respect to all or any part of the Charged Property, except with
            the prior consent of the Secured Party not to unreasonably withheld
            and save as may otherwise be provided herein;

      (e)   Except as provided in Section 2.02 hereof, the Debtor shall not
            sell, lease or otherwise dispose of the charged Property or any part
            thereof, ;

      (f)   the Debtor will pay all applicable taxes, rates, duties and
            assessments levied, assessed or imposed upon them in relation to the
            Charged Property, or any part thereof, as and when the same become
            due and payable and will, if and when required by the Secured Party,
            furnish the Secured Party for inspection with receipts for any of
            such payments;

      (g)   the Debtor will comply with all laws, regulations and orders of all
            governmental authorities having jurisdiction over the Charged
            Property or the business and activities from time to time carried on
            by the Debtor;

      (h)   the Debtor will specifically mortgage and charge in favour of the
            Secured Party, the right, title and interest of the Debtor in all
            equipment, machinery, vehicles and other tangible personal property
            which the Debtor shall hereafter acquire, and shall execute all such
            conveyances, mortgages and transfers as may be reasonably required
            in connection therewith;

5.    Default

5.01 All monies hereby secured, together with interest thereon as aforesaid,
shall become payable and the Security shall become enforceable immediately upon
the occurrence or happening of any one of the following events
<PAGE>
                                     - 6 -

provided that the same has not been remedied within fifteen (15) days after the
date on which notice has been given to the Debtor:

      (a)   Failure of the Debtor to pay any installment of interest and/or
            principal and/or taxes due under this General Security Agreement
            within fifteen (15) days of the date upon which the sum becomes due;

      (b)   Failure of the Debtor or of a guarantor of the Debtor to observe or
            perform any condition or covenant herein or in the guarantee given
            by the said party or given pursuant to any other security given in
            connection with the Indebtedness hereby secured, which is not cured
            to the satisfaction of the Secured Party within fifteen (15) days of
            notice thereof sent by the Secured Party;

      (c)   Failure to keep any prior encumbrance on the Charged Property in
            good standing which is not cured to the satisfaction of the Secured
            Party within fifteen (15) days of notice thereof sent by the Secured
            Party;

      (d)   Default by the Debtor under the terms of the Lease;

      (e)   Without in any way limiting the prohibition contained in Article 2
            hereof, with respect to any or all of the Charged Property and in
            the event of default by virtue of the failure of the Debtor to
            observe or perform any condition or covenant herein:

            (i)   If there is registered a chattel mortgage, conditional sales
                  agreement or any security interest or encumbrance of any sort
                  against the components of the Charged Property without the
                  prior written consent of the Secured Party; or

            (ii)  If the Debtor creates or purports to create a mortgage,
                  charge, lien or encumbrance, security interest or financings,
                  whether prior or subordinate to the Secured Party's interest,
                  without the prior written consent of the Secured Party, not to
                  be unreasonably withheld, with respect to the Charged
                  Property;

      (f)   If there is a failure of the Debtor or any other party liable for
            the Indebtedness or any part or parts thereof, to observe or perform
            any condition or covenant as set out in this General Security
            Agreement, the Lease or in any other document given to secure the
            Indebtedness or any part or parts thereof, or if any representation
            or warranty herein given is discovered to be untrue or becomes
            untrue in a material manner;

      (g)   if an agreement is entered into to or an order is made for the
            dissolution of the Debtor, or if a petition is filed for the
            dissolution of the Debtor;

      (h)   if the Debtor becomes insolvent or makes a general authorized
            assignment for the benefit of its creditors or otherwise
            acknowledges its insolvency; or if the Debtor makes a bulk sale of
            its assets; or if a bankruptcy petition or receiving order is filed
            or presented against the Debtor;

      (i)   if any execution, sequestration, extent or any other process of any
            court becomes enforceable against the Debtor or any of them or if a
            distress or analogous process is levied upon the property of the
            Debtor or any part thereof;
<PAGE>
                                     - 7 -

      (j)   if the Debtor ceases or threatens to cease to carry on its business
            or if the Debtor commits or threatens to commit any act of
            bankruptcy:

      (k)   if the Debtor makes default in payment of any indebtedness or
            liability to the Secured Party, whether secured hereby or not:

      (l)   if the Debtor permits any sum which has been admitted as due by the
            Debtor or is not disputed to be due by it and which forms or is
            capable of being made a charge upon any of the Charged Property in
            priority to the charge created by this General Security Agreement to
            remain unpaid for fifteen (15) days after proceedings have been
            taken to enforce the same as such a prior charge.

5.02 The Secured Party may waive, expressly or by implication, any breach by the
Debtor of any of the provisions contained in this General Security Agreement or
any default by the Debtor in the observance or performance of any covenant or
condition required to be observed or performed by the Debtor under the terms of
this General Security Agreement, but no act or omission by the Secured Party in
the waiver of a particular breach or default shall extend to or be taken in any
manner whatsoever to affect any subsequent breach or default or the rights
resulting therefrom.

6.    Enforcement

6.01 When the Security has become enforceable, the Secured Party may realize
upon the Security and enforce its rights by the following remedies:

      (a)   the Secured Party may enter into and take possession of all or any
            part of the Charged Property, with full power to manage such
            property and to borrow in the Debtor's name or in its own name or
            advance money at such rates of interest as it may deem reasonable
            for the purpose of such management, the maintenance and preservation
            of such property and replacement thereof, the sale or lease or
            concurrence in selling or leasing all or any part of the Charged
            Property whether by public auction or by private sale or lease in
            such manner as it may seem right (provided always that it shall not
            be incumbent on the Secured Party to sell, lease or dispose of the
            Charged Property but that it shall and may be lawful for the Secured
            Party peaceably and quietly to take, hold, use, occupy, possess and
            enjoy the Charged Property without molestation, eviction, hindrance
            or interruption of the Debtor or any other person or persons
            whomsoever and to convey, transfer and assign to a purchaser or
            purchasers to title to any undertaking, property and assets so
            sold). It shall also have full power to borrow or advance money for
            the payment of taxes, wages, current operating expenses and other
            charges and to receive the revenues, incomes and profits of the
            Charged Property and to pay therefrom all its expenses, charges and
            advances in carrying on such management;

      (b)   the Secured Party may proceed in any court of competent jurisdiction
            for the appointment of a receiver (which term as used in this
            General Security Agreement includes a receiver and manager) over all
            or any part of the Charged Property;

      (c)   the Secured Party may proceed in any court of competent jurisdiction
            for sale of all or any part of the Charged Property;

      (d)   the Secured Party may file proofs of claim and other documents to
            establish its claim in any proceeding relative to the Debtor;
<PAGE>
                                     - 8 -

      (e)   the Secured Party may initiate and pursue any other remedy or
            proceeding authorized or permitted hereby or by law or equity.

            Such remedies may be exercised from time to time separately or in
combination and are in addition to and not in substitution for any other rights
of the Secured Party however created.

6.02 Whenever the security hereby constituted shall have become enforceable and
so long as it shall remain enforceable, the Secured Party may by instrument in
writing appoint any person to be a receiver (which term shall include a receiver
and manager) of the Charged Property including any rents and profits thereof and
may remove any receiver and appoint another in his stead, and such receiver so
appointed shall have power to take possession of the Charged Property and to
carry on or concur in carrying on the business of the Debtor and to sell or
concur in selling any or all of the Charged Property. The rights and powers
conferred by this paragraph are in supplement of and not in substitution for any
other rights of the Secured Party. Any such receiver may be vested with all or
any of the powers and discretions of the Secured Party. The receiver shall have
all of the powers of the Secured Party set out in paragraph 6.01 of this General
Security Agreement.

            In addition to the powers set out above, the receiver shall have the
following powers:

            (i)   to take possession of the Charged Property;

            (ii)  to carry on and to concur in carrying on the business of the
                  Debtor;

            (iii) with the consent of the Secured Party to borrow money in his
                  name or in the Debtor's name, for the purpose of carrying on
                  the business of the Debtor and for the preservation and
                  realization of the undertaking, property and assets of the
                  Debtor which shall include without limiting the generality of
                  the foregoing the right to make payments to persons having
                  prior mortgages, charges or encumbrances on properties on
                  which the Debtor may hold mortgages, charges or encumbrances;

            (iv)  to issue certificates constituting the amount so borrowed and
                  any interest thereon to be a charge upon the Charged Property
                  in priority to the General Security Agreement:

            (v)   to sell or lease and to concur in selling or leasing all or
                  any part of the Charged Property and to convey, transfer and
                  assign to a purchaser or purchasers the title to any of the
                  undertaking, property or assets so sold.

            The receiver shall for all purposes be deemed to be the agent of the
Debtor and not of the Secured Party, and the Debtor shall be solely responsible
for his acts or defaults and for his remuneration. All monies from time to time
received by the receiver shall be applied as follows:

      (a)   firstly, in discharge of all operating expenses and other outgoings
            affecting the Charged Property;

      (b)   secondly, in keeping in good standing all charges and liens on the
            Charged Property having priority over the Security;

      (c)   thirdly, in payment of the remuneration and disbursements of the
            receiver;
<PAGE>
                                     - 9 -

      (d)   fourthly, in payment to the Secured Party of the monies payable
            hereunder; and

      (e)   the balance, if any, shall be paid to the Debtor.

            The Secured Party, in appointing or refraining from appointing such
receiver, shall not incur any liability to the receiver, the Debtor or
otherwise. In exercising the foregoing powers, any such receiver shall have the
power to borrow and create obligations and have security, whether by way of
receiver's certificate or otherwise, for any such borrowing or obligation upon
all or any part of the Charged Property in priority to the security hereby
constituted.

6.03 The Debtor agrees to pay to the Secured Party, forthwith on demand, all
costs, charges and expenses (including all legal fees) incurred by the Secured
Party in connection with the recovery or enforcement of payment of any monies
owing hereunder whether by realization or otherwise. All such sums, together
with interest thereon at the rate set forth for the principal sum herein, shall
be added to the Indebtedness secured by this General Security Agreement and
shall become part thereof and also be secured hereby.

6.04 Upon the Debtor receiving notice from the Secured Party of the taking of
possession of the Charged Property, all the powers, functions, rights and
privileges of each and every of the directors and officers of the Debtor with
respect to the business of the Debtor in relation to the Charged Property shall
cease unless specifically continued by the written consent of the Secured Party.

6.05 The Debtor hereby irrevocably appoints the Secured Party to be the attorney
of the Debtor for and in the name and on behalf of the Debtor to execute and do
any deeds, documents, transfers, demands, assignments, assurances, consents and
things which the Debtor ought to sign, execute and do hereunder and generally to
use the name of the Debtor in the exercise of all or any of the powers hereby
confirmed on the Secured Party and any receiver appointed with full powers of
substitution and revocation.

7.    General

7.01 No consent or waiver by the Secured Party of any breach by the Debtor of
any of the provisions contained in this General Security Agreement shall be
effective unless made in writing and signed by an authorized officer of the
Secured Party, provided that no such waiver or consent shall extend to or be
taken in any manner to affect any subsequent breach or failure or the rights
resulting therefrom.

7.02 Neither the taking of any judgment nor the exercise of any power of seizure
or sale shall operate to extinguish the liability of the Debtor to pay the
monies hereby secured nor shall the same operate as a merger of any covenant
herein contained or affect the right of the Secured Party to interest at the
rate specified due on the principal sum secured by the Mortgage.

7.03 The Security hereby constituted is in addition to any other security now or
hereafter held by the Secured Party. The taking of any action, or proceeding or
refraining from doing so, or any other dealings with any other security for the
money secured hereby, shall not release or affect the Security.

7.04 Any insurance moneys received by the Secured Party pursuant to this General
Security Agreement may, at the option of the Secured Party, be applied to
rebuilding or repairing the Charged Property or any part thereof, or be paid to
the Debtor, or any such moneys may be applied, in the sole discretion of the
Secured Party, in whole or in part, to the repayment of the sum secured hereby
or any part thereof, whether then due or not.
<PAGE>
                                     - 10 -

7.05 The Debtor hereby covenants and agrees with the Secured Party that they
will at all times do, execute, acknowledge and deliver or cause to be done,
executed, acknowledged or delivered, all and every such further act, deeds,
mortgages, transfers and assurances in law as the Secured Party shall reasonably
require for the better assuring, mortgaging, assigning and conferring unto the
Secured Party all and singular the Charged Property or intended so to be or
which the Debtor may hereafter become bound to mortgage and charge in favour of
the Secured Party for the better accomplishing and effecting the intention of
this General Security Agreement.

7.06 Any notice required or permitted to be given hereunder shall be given
either by personal delivery or by registered mail, postage prepaid, addressed to
the Secured Party or to the Debtor at their respective addresses as follows:

            If to the Secured Party, at:

                              6th Floor
                              8 Market Street
                              Toronto, Ontario
                              M5E 1M6

            If to the Debtor, at:

                              350 Steelcase Road West
                              Markham, Ontario

                              Attention:

or to such other address of which notice is given as herein provided. Any such
notice shall be deemed to have been received on the day of delivery (if
personally delivered) and at noon on the fifth business day following the day of
mailing (if mailed), or in the case of dispatch by telegraph, telex or similar
communication device, to have duly given eight hours after deposit for dispatch
in a public office for origination of such telecommunication or eight hours
after dispatch by means of a private telex or communication device.

7.07 This General Security Agreement shall be governed by and construed in
accordance with the laws of the Province of Ontario and the parties agree that
Ontario shall be the exclusive forum for the commencement and continuance of any
action in connection with this agreement.

7.08 This General Security Agreement shall enure to the benefit of the parties
hereto and their respective executors, administrators, beneficiaries, heirs,
successors and assigns.

            IN WITNESS WHEREOF the parties have hereunto affixed their corporate
seals and set their hands as of the day first above written.

                                          GEAC COMPUTER CORPORATION LIMITED

                                          by:    "S. Sadler"
                                             ----------------------------------

                                          GUARSEL PARTNERSHIP

                                          by:    "Guarsel Partnership"
                                             ----------------------------------

                                          by:
                                             ----------------------------------
<PAGE>
                                  APPENDIX "A"

                               INDEMNITY AGREEMENT

            THIS AGREEMENT is dated the 28th day of February, 1989.

BETWEEN:

            GUARSEL PARTNERSHIP

            (the "Landlord")

                                                              OF THE FIRST PART,

            - and -

            GEAC COMPUTER CORPORATION LIMITED

            (the "Indemnifier")

                                                             OF THE SECOND PART.

            In order to induce the Landlord to enter into the Lease (the
"Lease") dated the 28th day of February, 1989, and made between the Landlord and
GEAC CANADA LIMITED, as the Tenant, and for other good and valuable
consideration, the receipt and sufficiency of which is acknowledged, the
Indemnifier hereby covenants and makes the following indemnity and agreement
(the "Indemnity") with and in favour of the Landlord:

1. The Indemnifier hereby agrees with the Landlord that at all times during the
Term of the Lease and any extension or renewal of the Lease, it will (a) make
the due and punctual payment of all Basic Rent, monies, charges and other
amounts of any kind whatsoever payable under the Lease by the Tenant whether to
the Landlord or otherwise and whether the Lease has been disaffirmed or
disclaimed; (b) effect prompt and complete performance of all and singular the
terms, covenants and conditions contained in the Lease on the part of the Tenant
to be kept, observed and performed; and (c) indemnify and save harmless the
Landlord from any loss, costs or damages arising out of any failure by the
Tenant to pay the aforesaid Rent, monies, charges and other amounts due under
the Lease or resulting from any failure by the Tenant to observe or perform any
of the terms, covenants and conditions contained in the Lease.

2. This Indemnity is absolute and unconditional and the obligations of the
Indemnifier shall not be released, discharged, mitigated, impaired or affected
by (a) any extension of time, indulgences or modifications which the Landlord
extends to or makes with the Tenant in respect of the performance of any of the
obligations of the Tenant under the Lease; (b) any waiver by or failure of the
Landlord to enforce any of the terms, covenants and conditions contained in the
<PAGE>
                                     - 2 -

Lease; (c) any assignment of the Lease by the Tenant or by any trustee, receiver
or liquidator; (d) any consent which the Landlord gives to any such assignment
or subletting; (e) any amendment to the Lease or any waiver by the Tenant of any
of its rights under the Lease; or (f) the expiration of the Term.

3. The Indemnifier hereby expressly waives notice of the acceptance of this
Agreement and all notice of non-performance, non-payment or non-observance on
the part of the Tenant of the terms, covenants and conditions in the Lease.
Without limiting the generality of the foregoing, any notice which the Landlord
desires to give to the Indemnifier shall be sufficiently given if delivered in
person upon the Indemnifier, or if mailed by prepaid registered or certified
post addressed to the Indemnifier at the Leased Premises, and every such notice
is deemed to have been given upon the day it was delivered in person, or if
mailed, seventy-two (72) hours after the date it was mailed. The Indemnifier may
designate by notice in writing a substitute address for that set forth above and
thereafter notice shall be directed to such substitute address. If two or more
Persons are named as Indemnifier, such notice given hereunder or under the Lease
shall be sufficiently given if delivered or mailed in the foregoing manner to
any one of such Persons.

4. In the event of a default under the Lease or under this Indemnity, the
Indemnifier waives any right to require the Landlord to (a) proceed against the
Tenant or pursue any rights or remedies against the Tenant with respect to the
Lease; (b) proceed against or exhaust any security of the Tenant held by the
Landlord; or (c) pursue any other remedy whatsoever in the Landlord's power. The
Landlord has the right to enforce this Indemnity regardless of the acceptance of
additional security from the Tenant and regardless of any release or discharge
of the Tenant by the Landlord or by others or by operation of any law.

5. Without limiting the generality of the foregoing, the liability of the
Indemnifier under this Agreement is not and is not deemed to have been waived,
released, discharged, impaired or affected by reason of the release or discharge
of the Tenant in any receivership, bankruptcy, winding-up or other creditors'
proceedings or the rejection, disaffirmance or disclaimer of the Lease in any
proceeding and shall continue with respect to the periods prior thereto and
thereafter, for and with respect to the Term as if the Lease had not been
disaffirmed or disclaimed, and in furtherance hereof, the Indemnifier agrees,
upon any such disaffirmance or disclaimer, that the Indemnifier shall, at the
option of the Landlord, become the Tenant of the Landlord upon the same terms
and conditions as are contained in the Lease, applied mutatis mutandis. The
liability of the Indemnifier shall not be affected by any repossession of the
Leased Premises by the Landlord provided, however, that the net payments
received by the Landlord after deducting all costs and expenses of repossessing
and reletting the Leased Premises shall be credited from time to time by the
Landlord against the indebtedness of the Indemnifier hereunder and the
Indemnifier shall pay any balance owing to the Landlord from time to time
immediately upon demand.

6. No action or proceedings brought or instituted under this Indemnity and no
recovery in pursuance thereof shall be a bar or defence to any further action or
proceeding which may be brought under this Indemnity by reason of any further
default or default hereunder or in the performance and observance of the terms,
covenants and conditions contained in the Lease.
<PAGE>
                                     - 3 -

7. No modification of this Indemnity shall be effective unless it is in writing
and is executed by both the Indemnifier and the Landlord.

8. The Indemnifier shall, without limiting the generality of the foregoing, be
bound by this Indemnity in the same manner as though the Indemnifier were the
Tenant named in the Lease.

9. If two or more individuals, corporations, partnerships or other business
associations (or any combination of two or more thereof) execute this Indemnity
as Indemnifier, the liability of each such individual, corporation, partnership
or other business association hereunder is joint and several. In like manner, if
the Indemnifier named in this Indemnity is a partnership or other business
association, the members of which are by virtue of statutory or general law,
subject to personal liability, the liability of each such member is joint and
several.

10. All of the terms, covenants and conditions of this Indemnity extend to and
are binding upon the Indemnifier, his or her heirs, executors, administrators,
successors and assigns, as the case may be, and enure to the benefit of and may
be enforced by the Landlord, its successors and assigns, as the case may be, and
any mortgagee, chargee, trustee under a deed of trust or other encumbrancer of
all or any part of the Shopping Centre referred to in the Lease.

11. The expressions "Landlord", "Tenant", "Basic Rent", "Term", and "Leased
Premises" and other terms or expressions where used in this Indemnity,
respectively, have the same meaning as in the Lease.

12. This Agreement shall be construed in accordance with the laws of the
Province of Ontario.

13. Wherever in this Indemnity reference is made to either the Landlord or the
Tenant, the reference is deemed to apply also to the respective heirs,
executors, administrators, successors and assigns, and permitted assigns
respectively of the Landlord and the Tenant, as the case may be, named in the
Lease. Any assignment by the Landlord of any of its interests in the Lease
operates automatically as an assignment to such assignee of the benefit of this
Indemnity.

      IN WITNESS WHEREOF Landlord and Indemnifier have signed and sealed this
Indemnity.

SIGNED, SEALED AND DELIVERED  )        GUARSEL PARTNERSHIP            (Landlord)
    in the presence of:       )
                              )
                              )        Per:   "Guarsel Partnership"
                              )            ------------------------------------
                              )
                              )                                        c/s
                              )
                              )        Per:
                              )            ------------------------------------
                              )
                              )
<PAGE>
                                     - 4 -

                              )        GEAC COMPUTER CORPORATION
                              )        LIMITED                     (Indemnifier)
                              )
                              )
                              )        Per:   "S. Sadler"
                              )            ------------------------------------
                              )
                              )                                        c/s
                              )        Per:
<PAGE>
                              ESTOPPEL CERTIFICATE

TO:         3170497 CANADA INC. (THE "PURCHASER")

FROM:       GEAC CANADA LIMITED (THE "TENANT")
            300 - 11 ALLSTATE PARKWAY

RE:         THE PURCHASER'S PURCHASE OF 11 ALLSTATE PARKWAY, MARKHAM, ONTARIO
            FROM THE PRUDENTIAL COMPANY OF ENGLAND (PROPERTIES) LTD. (THE
            "LANDLORD"), AND THE LEASE BETWEEN THE TENANT AND THE LANDLORD DATED
            FEBRUARY 28, 1989

On the understanding that the Purchaser will be relying on this Estoppel
Certificate in connection with the above purchase, the Tenant certifies and
warrants that as of the date hereof:

(a)   the lease regarding the office or store at the above location (the
      "Premises") was validly authorized, executed and delivered by Tenant and
      is in full force and effect and unmodified except for a Lease Amending
      Agreement dated September 15, 1989, a Lease Amending Agreement dated
      November 1, 1990 and an Extension Agreement dated May 20, 1993;

(b)   the Rentable area of the Premises is 25,200 square feet and the Basic Rent
      is currently $13.50 per square foot per annum payable in monthly
      instalments of $28,350 together with additional rent of $19,293.05 per
      month (such amount includes charges of $1,620.63 per month for 2 storage
      spaces and $280.00 per month for 7 underground parking spaces). A deposit
      of $50,000 has been paid and has been applied against rent in the amount
      of $50,000 leaving a balance of $Nil;

(c)   there are no other agreements between the Landlord and the Tenant
      regarding the Lease or the Premises except as contained in the Lease;

(d)   the Tenant is in possession of the Premises under the Lease and Basic Rent
      under the Lease commenced on the 1st day of September, 1989;

(e)   the Tenant has made no payment of rent or other money under or relative to
      the Lease save as disclosed by the Lease;

(f)   the Tenant is not aware of any existing default by either the Landlord or
      the Tenant under the terms of the Lease and the Lease is, to the Tenant's
      knowledge, in good standing;

(g)   to the best of the Tenant's knowledge, no litigation or governmental or
      municipal proceedings have been commenced or are pending or threatened by
      or against the Tenant with respect to the premises;

(h)   the Tenant has no claim or set-off, defence or counterclaim in respect of
      the payment of rent or the enforcement of the obligations to be performed
      by the Tenant under the Lease or any agreement abating or deferring the
      present or future rent;
<PAGE>
                                     - 2 -

(i)   all improvements to be provided by the Landlord under the Lease (or under
      any antecedent agreement relating thereto) have been completed to the
      satisfaction of the Tenant and all allowances on account of the Tenant's
      improvements or any tenant's inducements in kind or monies worth,
      including rental abatements or concessions, have been fully paid by the
      Landlord.

DATED at Markham this 7th day of November, 1996.

                                      GEAC CANADA LIMITED

                                      Per: "Geac Canada Limited"            c/s
                                          -------------------------------------
<PAGE>
                            CERTIFICATE OF INSURANCE

                                   Issued By:                           00-(G)F0

                              MARSH CANADA LIMITED
           Canada Trust Tower - BCE Place, 161 Bay Street, Suite 1400,
                            Toronto. Ontario M5J 2S4

      This is to certify that the policy(s) of insurance described herein have
      been issued to the Insured named herein for the policy period indicated.
      Notwithstanding any requirement, term or condition of any contract or
      other document with respect to which the Certificate may be issued or may
      pertain, the insurance afforded by the policy(s) described herein is
      subject to all the terms, conditions and exclusions of such policy(s).
      Limits shown may have been reduced by paid claims.

<TABLE>
<S>                                       <C>
CERTIFICATE HOLDER:                       NAMED INSURED:
The Great-West Life Assurance Company     Geac Computer Corp. Ltd.
100 Osbourne Street North                 11 Allstate Parkway, Suite 300
Winnipeg, MB  R3C 3A5                     Markham, ON  L3R 9T8

                                          Division:

                                          Geac Premises Group
</TABLE>

<TABLE>
<CAPTION>
                                                            Policy          Policy
       Type of Insurance                Insurer             Number          Period                Limits of Liability
--------------------------------------------------------------------------------------------------------------------------
<S>                                <C>                    <C>           <C>              <C>
Commercial General Liability        Chubb Insurance       3527-31-77    August 1, 2000   Combined Single Limit:
including:                         Company of Canada                          to         US $1,000,000 Bodily Injury and
Products and Completed                                                  August 1, 2001   Property Damage
Operations, Personal Injury,                                                             US $2,000,000 Aggregate Products/
Cross Liability, Blanket                                                                 Completed Operations
Contractual Liability,
Tenants' Legal Liability, Non
Owned Automobile
--------------------------------------------------------------------------------------------------------------------------
Umbrella Liability                  Chubb Insurance       7927-80-72    August 1, 2000   US $1,000,000 Each Occurrence
                                   Company of Canada                          to         Products/ Completed Operations
                                                                        August 1, 2001   Aggregate
--------------------------------------------------------------------------------------------------------------------------
"ALL RISKS" of Direct Physical      Chubb Insurance       3527-31-77    August 1, 2000   US $10,000,000 Loss Limit per
Loss or Damage                     Company of Canada                          to         Occurrence
- including Waiver of                                                   August 1, 2001   -     Replacement Cost Valuation
Subrogation                                                                              -     Business Interruption
                                                                                         -     Boiler & Machinery Coverage
--------------------------------------------------------------------------------------------------------------------------
</TABLE>

DESCRIPTION OF OPERATIONS COVERED OR OTHER COMMENTS:

Leased Premises Located at 11 Allstate Parkway, Suite 300, Markham, ON (3043 1)

3170497 Canada Inc. and GWL Realty Advisors Inc. are added as Additional
Insureds, but only with respect to liability arising out of the operations of
the Named Insured.

CANCELLATION: Should any of the above described policies be cancelled before the
expiration date thereof, the Insurer(s) will endeavour to mail 30 days written
notice to the Certificate Holder, but failure to mail such notice shall impose
no obligation or liability of any kind upon either the Insurer(s) or Marsh
Canada Limited.

This Certificate is issued as a matter of information only and confers no rights
upon the Certificate Holder other than those provided by this policy. This
Certificate does not amend, extend or alter the coverage afforded by the
policies described herein.

Dated:   October 12, 2000

Broker:  March Canada Limited
         Canada Trust Tower-BCE Place
         161 Bay Street, Suite 1400
         Toronto, Ontario  M5J 2S4

                                                  M Wardermann
                                             -----------------------------------
                                                  Authorized Representative
<PAGE>
                                  APPENDIX "B"

                             ARCHITECT'S CERTIFICATE

January 23, 1989

The Seltzer Organization
8 Market Street
Toronto, Ontario
M5E 1M6

Attention:  Ms. Kim Gilmer

Re:  11 Allstate Parkway, Markham
     Rentable Area of Leased Premises

Dear Ms. Gilmer:

We certify herein that the area of the tenant space noted is as follows:

Floor:   Third
Tenant:  GEAC (occupies total floor)

Useable Floor Area                      24,427.0 sq.ft.
Portion of Common Rentable Area            859.0 sq.ft.

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

   Rentable Area:                       25,286.0 sq.ft.

The area calculations have been based on measurements from the inside face of
exterior glass to the suite face of corridor walls and measurements between the
centre line of demising partition walls where applicable. The principles of
measurement are as set forth in the standard ANSI Z65.1-1980 published by
Building Owners and Managers Association International (BOMA). The calculations
were made from field measurements taken at the site by Strong Associates
Architects.

The total areas for the Third Floor are as Follows:

gross rentable area         =       25,286.0 sq.ft.
total common rentable area  =          859.0 sq.ft.
gross useable area          =       24,427.0 sq.ft.

Yours sincerely,
STRONG ASSOCIATES, ARCHITECTS

"Timothy B. Gorley"

Timothy B. Gorley, B.Arch., M. Arch., MRAIC
8628-1D

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