REGUS GROUP LIMITED

PATHWAY FINANCE S.A R.L

REGUS NO. 1. S.A R.L

SECURITY AGREEMENT

LLOYDS TSB BANK PLC

DEPOSIT AGREEMENT TO SECURE OWN LIABILITIES

Lloyds Tsb Bank PLC

All such rights to the repayment of the deposit meaning the debt(s) on the account(s) described in the schedule being the account with the bank denominated in designated and numbered and any account(s) for the time being replacing the same and all interest owing in respect thereof and all deposits with the banks treasury division in the name of the bank re the company.

BEAR STEARNS CORPORATE LENDING INC. (SECURITY AGENT)

PLEDGE AGREEMENT

BEAR STEARNS CORPORATE LENDING INC. (SECURITY AGENT)

PLEDGE AGREEMENT

BEAR STEARNS CORPORATE LENDING INC., AS SECURITY AGENT

PLEDGE AGREEMENT

BEAR STEARNS CORPORATE LENDING INC. AS ADMINISTRATIVE AGENT

GUARANTEE & DEBENTURE

BEAR STEARNS CORPORATE LENDING INC. AS SECURITY AGENT AND PLEDGEE

AGREEMENT AND DEED OF PLEDGE ON REGISTERED SHARES EXECUTED OUTSIDE THE UNITED KINGDOM OVER PROPERTY SITUATED THERE