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Employment Agreement - MatchNet plc and Jessica Pezzullo

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                          [Letterhead of MatchNet plc]

9 June 2004

Mr Jessica Pezzullo

Dear Jessica:


Matchnet plc (the "Company") is pleased to confirm your employment on the
following terms:

1.      POSITION. You will serve in the full time position of Chief Marketing
        Officer reporting to the Chief Executive Officer of the Company. Your
        employment shall commence upon 21 June 2004 (the "Commencement Date").

2.      CASH COMPENSATION. The Company will pay you a salary at the rate of
        $240,000 per year, payable in accordance with the Company's standard
        payroll schedule. This salary will be subject to adjustment pursuant to
        the Company's employee compensation policies in effect from time to
        time. In addition, you will be eligible for an annual bonus pursuant to
        parameters as may be determined by the Board and a onetime bonus of up
        to $25,000 based upon performance metrics to be agreed upon.

3.      EMPLOYEE BENEFITS. As a regular employee of the Company, you will be
        eligible to participate in a number of Company-sponsored benefits
        including paid vacation (at a rate of 20 days per year), all in
        accordance with the Company's policies as in effect from time to time.
        In addition, you wilt be covered under the Company's health, 401(K) and
        group. insurance programs. In accordance with the Company's generally
        applicable policies, you will be reimbursed for all .reasonable travel
        and business expenses incurred by you in connection with your employment

4.      SHARE OPTIONS. Subject to the approval of the Board, you will be granted
        an option to purchase 100,000 of the Company's ordinary shares (the
        "Initial Options"). The exercise price per share of the Initial Options
        will be equal to the fair market value per share, as quoted on the
        Frankfurt Exchange, on the date of the commencement of your employment.
        The Options will vest, according to the following schedule: 20% on the
        1st anniversary of the Commencement Date, 25% on the 2nd, anniversary,
        25% on the 3rd

                                                                     Page 2 of 3

        anniversary and 30% on the 4`" anniversary. The Options will expire 5
        years after .the Commencement Date.

        NON-DISCLOSURE AGREEMENT. You agree to execute the Assignment of Rights,
        Non-Solicitation of Employees and Vendors, Confidentiality and
        Non-Disclosure Agreements as shall be. provided to you by the Company.

6.      CHANGE .OF CONTROL. For purposes of this agreement, a "Change of Control
        Event" shall be the occurrence of a single shareholder (or beneficial
        owner) acquiring more than 75% of the then outstanding ordinary shares
        (or securities convertible into 75% of the then outstanding shares) of
        the Company. If a "Change of Control Event" occurs and if your
        employment with the Company is involuntarily terminated for any reason
        within 6 months of such "Change of Control Event", you shall be entitled
        to: (i) payment of one year's salary and any accrued bonus (net of any
        required withholding); (ii) immediate vesting of any unvested options,
        set forth in paragraph 4, above, together with an extension of the
        "Final Exercise Date" as defined in the relevant Option Agreement to one
        year from the date of such termination), above; and (iii) payment of any
        COBRA plan for 1 year.

7.      INDEMNIFICATION. To the fullest extent permitted by the Company's
        charter documents and applicable law, the Company agrees to defend and
        indemnify you and hold you harmless against any liability that you incur
        within the scope of your employment with the Company. The Company agrees
        to use its best efforts to purchase and maintain adequate Directors' and
        Officers' liability insurance.

8.      EMPLOYMENT RELATIONSHIP. Your employment with the Company continues to
        be for, no specific period of time. Your employment with the Company
        will continue to be "at will," meaning that either you or the Company
        may terminate your employment at any time and for any reason, with or
        without cause. If you are terminated without cause within 1 year of the
        Commencement Date, you will be entitled to three months salary, less any
        required tax withholdings (and which may be paid according to our normal
        payroll schedule). "Cause" for the purposes of this Agreement, shall
        mean (i) any act of personal dishonesty taken by you in connection with
        your responsibilities as an employee which is intended to result in your
        substantial personal enrichment, (ii) your conviction of a felony, (iii)
        a wilful act by you which constitutes misconduct and is injurious to the
        Company, and (iv) continued wilful violations of your obligations to the
        Company after you have been provided with a written demand for
        performance from the Company which describes the basis for the Company's
        belief that you have not substantially performed your duties. Any
        contrary representations that may have been made to you are superseded
        by this letter agreement. This is the full and complete agreement
        between you and the Company on this term.

9.      OUTSIDE ACTIVITIES. While you render services to the Company, you agree
        that you will not engage in any other employment, consulting or other
        business activity without the prior written consent of the Company;
        which consent shall not be unreasonably withheld. While you render
        services to the Company, you also will not assist any person or entity
        in competing with the Company, in preparing to compete with the Company
        or in hiring any employees or consultants of the Company.

10.     WITHHOLDING TAXES. All forms of compensation referred to in this letter
        agreement are subject to reduction to reflect applicable withholding
        .and payroll taxes and other deductions required by law.

                                                                     Page 3 of 3

11.     ENTIRE AGREEMENT. Except as set forth herein, this letter agreement
        supersedes and replaces any prior agreements, representations or
        understandings, whether written, oral or implied, between you and the

We hope that you will find the above terms acceptable. You may indicate your
agreement with these terms by signing and dating the enclosed duplicate original
of this letter agreement and returning it to me. By signing this letter
agreement, you reconfirm to the Company that you have no contractual commitments
or other legal obligations that would prohibit you from performing your duties
for the Company.

Very truly yours,

/s/ Todd Tappin
Todd Tappin


I have read and accept and agree to the above terms of employment:

/s/ Jessica Pezzullo
Signature of Jessica Pezzullo

Dated: June 9, 2004