28 September 2001 - Acceptance letter to bookmakers

28 September 2001

Acceptance Letter

Dear Sirs,

Supply of SIS service from 1 May 2002

We refer to the letter ("Offer Letter") enclosed with this letter dated 28th September 2001.

If you wish to enter into a binding agreement on the terms set out below, please sign the acknowledgement attached to this letter and return it by post or by fax to me (fax number 020 7251 3737), indicating whether you wish to enter into a five year or two year contract. The principal commercial terms of SIS's offer are set out below:

1. Content and transmission times

As detailed in the Offer Letter

SIS reserves the right to alter the content of the service subject to product availability and customer demand

2. Term

Option A: Minimum period of five years from 1 May 2002, subject to three months' notice of termination by either party thereafter.

Option B: Two year fixed term contract with an option to renew for a further three years.

3. Price

3.1 Option A: £5,000 (exclusive of VAT) per annum per shop or other premises, for the first 2 years, subject to RPI increases from the third year onwards.

Option B: £5,250 (exclusive of VAT) per annum per shop or other premises. If the option to renew for a further three years is exercised the price is subject to RPI increases for years 3 to 5.

In both options the price includes evening and UK Sunday racing and is expressed in £ sterling which will be converted to Euros at the appropriate rate at the end of March 2002 and annually thereafter , for services supplied to shops in Ireland

3.2 If SIS is not awarded a licence by the BHB/RCA for the provision of the services from the 49 non-GG Media courses, these prices will be reduced by £500.

3.3 The prices relate to direct-receive sites only. Additional cost-related charges will be payable in respect of cable-receive sites as set out in the Offer Letter.

3.4 49s products will be invoiced as separate items, at cost.

4. Service delivery

The FACTS service will be delivered to direct-receive sites via the GE-1E digital satellite (Sirius 2) and SIS's Scientific -Atlanta digital multiplex.

5. Installation and maintenance

SIS will continue to provide installation and maintenance support on the same basis as at present.

6. Other terms

Service provision will be subject to SIS's current Standard Terms and Conditions.

Yours sincerely

David Holdgate
Chief Executive

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To: Satellite Information Services Ltd ("SIS")
17 Corsham Street
London
N1 6DR
Fax no: 020 7251 3737

I confirm that [....................................... ]* agrees to take the FACTS service in all its premises in the United Kingdom and/or Ireland which currently receive the FACTS service for two years/ five years** on the terms and subject to the conditions set out in the Offer letter and Acceptance letter from SIS dated 28th September 2001. Accordingly, this confirmation should be treated as a formal notice from [ ]* to terminate the existing agreement(s) for the supply of the FACTS service to all of our premises with effect from 30 April 2002.

Signed………………………………………..

Name (print)………………………………….

Duly authorised for and on behalf of
[ ]*

Dated…………………………………….2001

[ insert name of company] *

Delete as appropriate**