BRIDGE LOAN AGREEMENT

PRIVATE & CONFIDENTIAL

                              DATED : JUNE 6, 2005

                              TELECONNECT INC.          (1)

                                       AND

                        Geeris Holding Nederland B.V    (2)

                              BRIDGE LOAN AGREEMENT

                         ENGLISH VERSION UNDER DUTCH LAW

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THIS AGREEMENT is dated June 6, 2005 and is made BETWEEN:

(1)    TELECONNECT Inc., incorporated under the laws of Florida, United States

       of America, having its registered office at 1200 South Pine Island Road,

       Plantation, Florida 33324 (hereinafter "TC") and represented in this act

       by Gustavo Gomez, President of the Company and with contact address:

       Parque Tecnologico de Andalucia (PTA), Edif. Estepona. Malaga Business

       Park 2, C/ Severo Ochoa, n(0) 16-20, 1(a), Campanillas, Malaga, 28590,

       Spain.

(2)    Geeris Holding Nederland B.V., incorporated under the laws of Holand, and

       having registered offices at Helvoirtseweg 146, Postbus 317, 5260 AH

       Vught The Netherlands, (HEREINAFTER GEERIS") and represented in this act

       by Mr Leonardus R.M. Geeris of age, married, of Dutch nationality with

       passport number N70986464 and domiciled at Zandpad 29, 3601 NA Maarsen

       The Netherlands

WHEREAS

(A)    ITSN is in an expansion phase for which it needs approximately 2 million

       euros

(B)    The Parties have reached an agreement to