HEADS OF AGREEMENT

The ACT Rugby Union Inc. (herein-after referred to as "ACTRU")of the second part.

Whereas the Territory proposes to redevelop the Bruce Stadium; and

ACTRU intend to occupy and utilise the Stadium for its events;

The parties agree to enter into negotiations in good faith regarding terms and conditions for the hire of the Stadium by ACTRU in accordance with the principles and intentions set out below ("the Heads of Agreement"):

INTERPRETATION

In this Agreement, unless the contrary intention appears:

"Governing Body " means the body which establishes and conducts any competition in which ACTRU compete from time to time;

"Heads of Agreement " means the principles and intentions as set out in this document which will be incorporated in a subsequent formal hiring agreement which will be finalised between the Territory and ACTRU.

"Major Hirers " means ACTRU and any other sporting or other organisations with which the Territory enters into a long-term hiring agreement for Bruce Stadium.

PERIOD of H1RING

The Hiring Agreement will be for a 8 year period with a further 10 year extension by agreement of the parties, subject to the Territory securing a further sublease of the Stadium for that period and unless the ACTRU is eliminated from the competition. During the hiring period, ACTRU will be entitled to use the Stadium for the day of the game only (from 12:01 am to 11:59 pm) for matches allocated by the Governing Body of the sport controlling the competition in which ACTRU may participate from time to time (herein after referred to as the Governing Body) and such other matches as the parties may agree from 1999 (first game of the 1999 season) to 2006 (last game of the 2006 season).