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The Proposal

Appendix F 2

18 June 2002

baxi partnership

Mr Ivor Share
Poptel Limited
Rutherford House,
Manchester Science Park
Manchester M 1 S 6GG

Dear Ivor,

I wish to confirm the specific agreements already in place to underwrite Poptel's participation in the bid to run the .org registry and the costs associated with running the registry if the hid is successful.

In accordance with the already executed heads of agreement, which outline the terms and conditions governing this round of finance, Sum i Baxi confirm that they will commit their share of the funds necessary to underwrite the costs of setting up and running the .org registry?. These costs are as detailed as part of the budgets attached to the bid document as submitted to ICANN.

We are extremely enthusiastic about the progress of the company, the development of the existing .coop registry business and the prospects for the future. The potential to manage the .org business fits extremely well with the corporate objectives of the business that we have charted. We remain confident that Poptel will be successful in its bid together with its partners AusRegistry in Australia and that we will have the opportunity to further invest.


Yoram Amiga - For Sum International Holdings, David Erdal - For Baxi Investment Trust