<PAGE>

EXHIBIT 10.9
                                       
                         REVOLVING LINE OF CREDIT NOTE



$15, 000,000                                                       Dallas, Texas
                                                                  March 20, 1998

     FOR VALUE RECEIVED, the undersigned PRECEPT BUSINESS SERVICES, INC., 
PRECEPT BUSINESS PRODUCTS, INC., PRECEPT TRANSPORTATION SERVICES OF TEXAS, 
INC., WINGTIP COURIERS, INC., PRECEPT TRANSPORTATION SERVICES, L.L.C. AND 
RELAY COURIERS, INC. (collectively, the "Borrowers") each promises to pay to 
the order of WELLS FARGO BANK (TEXAS), NATIONAL ASSOCIATION ("Bank") at its 
office at 1445 Ross Avenue, Suite 300, Dallas, Texas, or at such other place 
as the holder hereof may designate, in lawful money of the United States of 
America and in immediately available funds, the principal sum of Fifteen 
Million Dollars ($15,000,000.00), or so much thereof as may be advanced and 
be outstanding, with interest thereon, to be computed on each advance from 
the date of its disbursement as set forth herein.

DEFINITIONS:

     As used here in, the following terms shall have the meanings set forth 
after each, and any other term defined in this Note shall have the meaning 
set forth at the place defined:

     (a)  "Business Day" means any day except a Saturday, Sunday or any other 
day on which commercial banks in Texas are authorized or required by law to 
close.

     (b)  "Fixed Rate Term" means a period commencing on a Business Day and 
continuing for one (1), two (2) or three (3) months, as designated by 
Borrower, during which all or a portion of the outstanding principal balance 
of this Note bears interest determined in relation to LIBOR; provided 
however, that no Fixed Rate Term may be selected for a principal amount less 
than one hundred thousand Dollars ($100,000); and provided further, that no 
Fixed Rate Term shall extend beyond the scheduled maturity date hereof.  If 
any Fixed Rate Term would end on a day which is not a Business Day, then such 
Fixed Rate Term shall be extended to the next succeeding Business Day.

     (c)  "LIBOR" means the rate per annum (rounded upward, if necessary, to 
the nearest whole 1/8 of 1%) and determined pursuant to the following formula:

     LIBOR =           Base LIBOR
             -------------------------------
             100% - LIBOR Reserve Percentage

     (i)  "Base LIBOR" means the rate per annum for United States dollar 
deposits quoted by Bank as the Inter-Bank Market Offered Rate, with the 
understanding that such rate is quoted by Bank for 

<PAGE>

the purpose of calculating effective rates of interest for loans making 
reference thereto, on the first day of a Fixed Rate Term for delivery of 
funds on said date for a period of time approximately equal to the number of 
days in such Fixed Rate Term and in an amount approximately equal to the 
principal amount to which such Fixed Rate Term applies.  Borrower understands 
and agrees that Bank may base its quotation of the Inter-Bank Market Offered 
Rate upon such offers or other market indicators of the Inter-Bank Market as 
Bank in its discretion deems appropriate including, but not limited to, the 
rate offered for U.S. dollar deposits on the London Inter-Bank Market.

     (ii) "LIBOR Reserve Percentage" means the reserve percentage prescribed 
by the Board of Governors of the Federal Reserve System (or any successor) 
for "Eurocurrency Liabilities" (as defined in Regulation D of the Federal 
Reserve Board, as amended), adjusted by Bank for expected changes in such 
reserve percentage during the applicable Fixed Rate Term.

     (d)  "Prime Rate" means at any time the rate of interest most recently 
announced within Bank at its principal office as its Prime Rate, with the 
understanding that the Prime Rate is one of Bank's base rates and serves as 
the basis upon which effective rates of interest are calculated for those 
loans making reference thereto, and is evidenced by the recording thereof 
after its announcement in such internal publication or publications as Bank 
may designate.

INTEREST:

     (a)  INTEREST.  The outstanding principal balance of this Note shall 
bear interest (computed on the basis of a 360-day year, actual days elapsed, 
unless such calculation would result in a usurious rate, in which case 
interest shall be computed on the basis of a 365/366-day year, as the case 
may be, actual days elapsed) at the lesser of (i) either (A) a fluctuating 
rate per annum equal to the Prime Rate in effect from time to time, or (B) a 
fixed rate per annum determined by Bank to be equal to the LIBOR Margin above 
LIBOR in effect on the first day of the applicable Fixed Rate Term, or (ii) 
the Maximum Rate.  When interest is determined in relation to the Prime Rate, 
each change in the rate of interest hereunder shall become effective on the 
date each Prime Rate change is announced within Bank.  With respect to each 
LIBOR selection hereunder, Bank is hereby authorized to note the date, 
principal amount, interest rate and Fixed Rate Term applicable thereto and 
any payments made thereon on Bank's books and records (either manually or by 
electronic entry) and/or on any schedule attached to this Note, which 
notations shall be prima facie evidence of the accuracy of the information 
noted.
                                       


                                      -2-

<PAGE>

     (b)  SELECTION OF INTEREST RATE OPTIONS.  At any time any portion of 
this Note bears interest determined in relation to LIBOR, it may be continued 
by Borrower at the end of the Fixed Rate Term applicable thereto so that all 
or a portion thereof bears interest determined in relation to the Prime Rate 
or to LIBOR for a new Fixed Rate Term designated by Borrower.  At any time 
any portion of this Note bears interest determined in relation to the Prime 
Rate, Borrower may convert all or a portion thereof so that it bears interest 
determined in relation to LIBOR for a Fixed Rate Term designated by Borrower. 
At such time as Borrower requests an advance hereunder or wishes to select a 
LIBOR option for all or a portion of the outstanding principal balance 
hereof, and at the end of each Fixed Rate Term, Borrower shall give Bank 
notice specifying: (i) the interest rate option selected by Borrower; (ii) 
the principal amount subject thereto; and (iii) for each LIBOR selection, the 
length of the applicable Fixed Rate Term.  Any such notice may be given by 
telephone so long as, with respect to each LIBOR selection, (A) Bank receives 
written confirmation from Borrower not later than three (3) Business Days 
after such telephone notice is given, and (B) such notice is given to Bank 
prior to 10:00 a.m., California time, on the first day of the Fixed Rate 
Term.  For each LIBOR option requested hereunder, Bank will quote the 
applicable fixed rate to Borrower at approximately 10:00 a.m.,California 
time, on the first day of the Fixed Rate Term.  If Borrower does not 
immediately accept the rate quoted by Bank, any subsequent acceptance by 
Borrower shall be subject to a redetermination by Bank of the applicable 
fixed rate; provided however, that if Borrower fails to accept any such rate 
by 11:00 a.m., California time, on the Business Day such quotation is given, 
then the quoted rate shall expire and Bank shall have no obligation to permit 
a LIBOR option to be selected on such day.  If no specific designation of 
interest is made at the time any advance is requested hereunder or at the end 
of any Fixed Rate Term, Borrower shall be deemed to have made a Prime Rate 
interest selection for such advance or the principal amount to which such 
Fixed Rate Term applied.

     (c)  ADDITIONAL LIBOR PROVISIONS.

     (i)  If Bank at any time shall determine that for any reason adequate 
and reasonable means do not exist for ascertaining LIBOR, then Bank shall 
promptly give notice thereof to Borrower. If such notice is given and until 
such notice has been withdrawn by Bank, then (A) no new LIBOR option may be 
selected by Borrower, and (B) any portion of the outstanding principal 
balance hereof which bears interest determined in relation to LIBOR, 
subsequent to the end of the Fixed Rate Term applicable thereto, shall bear 
interest determined in relation to the Prime Rate.
                                       


                                      -3-

<PAGE>

     (ii)  If any law, treaty, rule, regulation or determination of a court 
or governmental authority or any change therein or in the interpretation or 
application thereof (each, a "Change in Law") shall make it unlawful for Bank 
(A) to make LIBOR options available hereunder, or (B) to maintain interest 
rates based on LIBOR, then in the former event, any obligation of Bank to 
make available such unlawful LIBOR options shall immediately be cancelled, 
and in the latter event, any such unlawful LIBOR-based interest rates then 
outstanding shall be converted, at Bank's option, so that interest on the 
portion of the outstanding principal balance subject thereto is determined in 
relation to the Prime Rate; provided however, that if any such Change in Law 
shall permit any LIBOR-based interest rates to remain in effect until the 
expiration of the Fixed Rate Term applicable thereto, then such permitted 
LIBOR-based interest rates shall continue in effect until the expiration of 
such Fixed Rate Term.  Upon the occurrence of any of the foregoing events, 
Borrower shall pay to Bank immediately upon demand such amounts as may be 
necessary to compensate Bank for any fines, fees, charges, penalties or other 
costs incurred or payable by Bank as a result thereof and which are 
attributable to any LIBOR options made available to Borrower hereunder, and 
any reasonable allocation made by Bank among its operations shall be 
conclusive and binding upon Borrower.

     (iii) If any Change in Law or compliance by Bank with any request or 
directive (whether or not having the force of law) from any central bank or 
other governmental authority shall:

     (A)  subject Bank to any tax,-duty or other charge with respect to, any
          LIBOR options, or change the basis of taxation of payments to Bank 
          of principal, interest, fees or any other amount payable hereunder
          (except for changes in the rate of tax on the overall net income of
          Bank); or

     (B)  impose, modify or hold applicable any reserve, special deposit,
          compulsory loan or similar requirement against assets held by,
          deposits or other liabilities in or for the account of, advances or
          loans by, or any other acquisition of funds by any office of Bank; or

     (C)  impose on Bank any other condition;

and the result of any of the foregoing is to increase the cost to Bank of 
making, renewing or maintaining any LIBOR options hereunder and/or to reduce 
any amount receivable by Bank in connection therewith, then in any such case, 
Borrower shall pay to Bank immediately upon demand such amounts as may be 
necessary to compensate Bank for any additional costs incurred by Bank and/or 
reductions in amounts received by Bank which are attributable to such LIBOR 
options.  In determining which costs incurred by Bank and/or reductions in 
amounts received by Bank 
                                       


                                      -4-

<PAGE>

are attributable to any LIBOR options made available to Borrower hereunder, 
any reasonable allocation made by Bank among its operations shall be 
conclusive and binding upon Borrower.

     (d)  PAYMENT OF INTEREST.  Interest accrued on this Note shall be 
payable on the first day of each month, commencing April 1, 1998.

     (e)  DETERMINATION OF LIBOR MARGIN.  The "LIBOR Margin" shall be 
determined as of the first day of each month according to the following grid:

<TABLE>
                     SENIOR FUNDED DEBT TO                                 LIBOR
                         EBITDA RATIO                                      MARGIN
<S>                                                                        <C>
LESS THAN 2.00 to 1.00                                                     1.75%
GREATER THAN OR EQUAL TO 2.00 to 1.00 and LESS THAN 3.00 to 1.00           2.25%
GREATER THAN OR EQUAL TO 3.00 to 1.00 and LESS THAN 4.00 to 1.00           2.50%
GREATER THAN OR EQUAL TO 4.00 to 1.00                                      2.75%
</TABLE>

     The Bank shall make such determination based on the financial 
information submitted by the Borrower to the Bank for the calendar month 
preceding each month.  Each change in the rate of interest under this Note 
based on a change in the Applicable Prime Rate Margin or LIBOR Margin shall 
be effective on the first day of the next calendar month.

     From the date hereof until April 1, 1998, the LIBOR Margin shall be two 
and one-half percent (2.50%)

     As used herein, "Senior Funded Debt to EBITDA Ratio" shall mean the 
ratio of "Senior Funded Debt" to "EBITDA", with "Senior Funded Debt" defined 
as total funded unsubordinated indebtedness, according to GAAP and including 
capital leases, but excluding any indebtedness and capital leases of U.S. 
Trucking, Inc., of Borrowers, and "EBITDA" defined as (a) net income, after 
income taxes, determined in conformity with GAAP; plus (b) income taxes 
deducted in determining net income; plus (c) interest expense deducted in 
determining net income; plus (d) amortization and depreciation expenses 
deducted in determining net income; plus (e) other non-cash charges 
(excluding accruals in the normal course of business), deducted in 
determining net income.

BORROWING AND REPAYMENT:

     (a)  BORROWING AND REPAYMENT.  Borrower may from time to time during the 
term of this Note borrow, partially or wholly repay its outstanding 
borrowings, and reborrow, subject to all of 
                                       


                                      -5-

<PAGE>

the limitations, terms and conditions of this Note and of any document 
executed in connection with or governing this Note; provided however, that 
the total outstanding borrowings under this Note shall not at any time exceed 
the principal amount stated above.  The unpaid principal balance of this 
obligation at any time shall be the total amounts advanced hereunder by the 
holder hereof less the amount of principal payments made hereon by or for any 
Borrower, which balance may be endorsed hereon from time to time by the 
holder.  The outstanding principal balance of this Note shall be due and 
payable in full on June 30, 2000.

     (b)  ADVANCES.  Advances hereunder, to the total amount of the principal 
sum stated above, may be made by the holder at the oral or written request of 
(i) Scott Walker or Stuart Walker, any one acting alone, who are authorized 
to request advances and direct the disposition of any advances until written 
notice of the revocation of such authority is received by the holder at the 
office designated above, or (ii) any person, with respect; to advances 
deposited to the credit of any account of any Borrower with the holder, which 
advances, when so deposited, shall be conclusively presumed to have been made 
to or for the benefit of each Borrower regardless of the fact that persons 
other than those authorized to request advances may have authority to draw 
against such account. The holder shall have no obligation to determine 
whether any person requesting an advance is or has been authorized by any 
Borrower.

     (c)  APPLICATION OF PAYMENTS.  Each payment made on this Note shall be 
credited first, to any interest then due and second, to the outstanding 
principal balance hereof.  All payments credited to principal shall be 
applied first, to the outstanding principal balance of this Note which bears 
interest determined in relation to the Prime Rate, if any, and second, to the 
outstanding principal balance of this Note which bears interest determined in 
relation to LIBOR, with such payments applied to the oldest Fixed Rate Term 
first.

PREPAYMENT:

     (a)  PRIME RATE.  Borrower may prepay principal on any portion of this 
Note which bears interest determined in relation to the Prime Rate at any 
time, in any amount and without penalty.

     (b)  LIBOR.  Borrower may prepay principal on any portion of this Note 
which bears interest determined in relation to LIBOR at any time and in the 
minimum amount of one hundred thousand Dollars ($100,000); provided however, 
that if the outstanding principal balance of such portion of this Note is 
less than said amount, the minimum prepayment amount shall be the entire 
outstanding principal balance thereof.  In consideration of Bank providing 
this prepayment option to Borrower, or if any such portion of this Note shall 
become due and payable at any time 
                                       


                                      -6-

<PAGE>

prior to the last day of the Fixed Rate Term applicable thereto, Borrower 
shall pay to Bank immediately upon demand a fee which is the sum of the 
discounted monthly differences for each month from the month of prepayment 
through the month in which such Fixed Rate Term matures; calculated as 
follows for each such month:

     (i)  DETERMINE the amount of interest which would have accrued each month 
          on the amount prepaid at the interest rate applicable to such amount 
          had it remained outstanding until the last day of the Fixed Rate 
          Term applicable thereto.

     (ii) SUBTRACT from the amount determined in (i) above the amount of 
          interest which would have accrued for the same month on the amount 
          prepaid for the remaining term of such Fixed Rate Term at LIBOR 
          in effect on the date of prepayment for new loans made for such
          term and in a principal amount equal to the amount prepaid.

   (iii)  If the result obtained in (ii) for any month is greater than zero, 
          discount that difference by LIBOR used in (ii) above.

Each Borrower acknowledges that prepayment of such amount may result in Bank 
incurring additional costs, expenses and/or liabilities, and that it is 
difficult to ascertain the full extent of such costs, expenses and/or 
liabilities.  Each Borrower, therefore, agrees to pay the above-described 
prepayment fee and agrees that said amount represents a reasonable estimate 
of the prepayment costs, expenses and/or liabilities of Bank.

EVENTS OF DEFAULT:

     This Note is made pursuant to and is subject to the terms and conditions 
of that certain First Amended and Restated Credit Agreement between Borrower 
and Bank dated as of March 20, 1998, as amended from time to time (the 
"Credit Agreement") .  Any default in the payment or performance of any 
obligation under this Note, or any defined event of default under the Credit 
Agreement, shall constitute an "Event of Default" under this Note.

MISCELLANEOUS:

     (a)  REMEDIES.  Upon the sale, transfer, hypothecation, assignment or 
other encumbrance, whether voluntary, involuntary or by operation of law, of 
all or any interest in any real property securing this Note, or upon the 
occurrence of any Event of Default, the holder of this Note, at the holder's 
option, may declare all sums of principal and accrued and unpaid interest 
outstanding hereunder to be immediately due and payable without presentment, 
demand, or any notices of any kind, including 
                                       


                                      -7-

<PAGE>

without limitation notice of nonperformance, notice of protest, protest, 
notice of dishonor, notice of intention to accelerate or notice of 
acceleration, all of which are expressly waived by each Borrower, and the 
obligation, if any, of the holder to extend any further credit hereunder 
shall immediately cease and terminate. Each Borrower shall pay to the holder 
immediately upon demand the full amount of all reasonable payments, advances, 
charges, costs and expenses, including reasonable attorneys' fees (to include 
outside counsel fees and all allocated costs of the holder's in-house counsel 
to the extent permissible), expended or incurred by the holder in connection 
with the enforcement of the holder's rights and/or the collection of any 
amounts which become due to the holder under this Note, and the prosecution 
or defense of any action in any way related to this Note, including without 
limitation, any action for declaratory relief, whether incurred at the trial 
or appellate level, in an arbitration proceeding or otherwise, and including 
any of the foregoing incurred in connection with any bankruptcy proceeding 
(including without limitation, any adversary proceeding, contested matter or 
motion brought by Bank or any other person) relating to any Borrower or any 
other person or entity.

     (b)  OBLIGATIONS JOINT AND SEVERAL.  Should more than one person or 
entity sign this Note as a Borrower, the obligations of each such Borrower 
shall be joint and several.

     (c)  GOVERNING LAW.  This Note shall be governed by and construed in 
accordance with the laws of the State of Texas.

     (d)  SAVINGS CLAUSE.  It is the intention of the parties to comply 
strictly with-applicable usury laws.  Accordingly, notwithstanding any 
provision to the contrary in this Note, or in any contract, instrument or 
document evidencing or securing the payment hereof or otherwise relating 
hereto (each, a "Related Document"), in no event shall this Note or any 
Related Document require the payment or permit the payment, taking, 
reserving, receiving, collection or charging of any sums constituting 
interest under applicable laws that exceed the maximum amount permitted by 
such laws, as the same may be amended or modified from time to time (the 
"Maximum Rate") .  If any such excess interest is called for, contracted for, 
charged, taken, reserved or perceived in connection with this Note or any 
Related Document, or in any communication by Bank or any other person to 
Borrower or any other person, or in the event that all or part of the 
principal or interest hereof or thereof shall be prepaid or accelerated, so 
that under any of such circumstances or under any other circumstance 
whatsoever the amount of interest contracted for, charged, taken, reserved or 
received on the amount of principal actually outstanding from time to time 
under this Note shall exceed the Maximum Rate, then in such event it is 
agreed that: (i) the provisions of this paragraph shall govern and control; 
(ii) neither Borrower nor any other person or entity now 
                                       


                                      -8-

<PAGE>

or hereafter liable for the payment of this Note or any Related Document 
shall be obligated to pay the amount of such interest to the extent it is in 
excess of the Maximum Rate; (iii) any such excess interest which is or has 
been received by Bank, notwithstanding this paragraph, shall be credited 
against the then unpaid principal balance hereof or thereof, or if this Note 
or any Related Document has been or would be paid in full by such credit, 
refunded to Borrower; and (iv) the provisions of this Note and each Related 
Document, and any other communication to Borrower, shall immediately be 
deemed reformed and such excess interest reduced, without the necessity of 
executing any other document, to the Maximum Rate.  The right to accelerate 
the maturity of this Note or any Related Document does not include the right 
to accelerate, collect or charge unearned interest, but only such interest 
that has otherwise accrued as of the date of acceleration.  Without limiting 
the foregoing, all calculations of the rate of interest contracted for, 
charged, taken, reserved or received in connection with this Note and any 
Related Document which are made for the purpose of determining whether such 
rate exceeds the Maximum Rate shall be made to the extent permitted by 
applicable laws by amortizing, prorating, allocating and spreading during the 
period of the full term of this Note or such Related Document, including all 
prior and subsequent renewals and extensions hereof or thereof, all interest 
at any time contracted for, charged, taken, reserved or received by Bank.  
The terms of this paragraph shall be deemed to be incorporated into each 
Related Document.

     To the extent that Chapter 1D of Article 5069 of the Texas Revised Civil 
Statutes is relevant to Bank for the purpose of determining the Maximum Rate, 
Bank hereby elects to determine the applicable rate ceiling under such 
Article by the weekly rate ceiling from time to time in effect, subject to 
Bank's right subsequently to change such method in accordance with applicable 
law, as the same may be amended or modified from time to time.

     (e)  RIGHT OF SETOFF; DEPOSIT ACCOUNTS.  Upon and after the occurrence 
of an Event of Default except under Section 6.1 (d), (i) Borrower hereby 
authorizes Bank, at any time and from time to time, without prior notice, 
which is hereby expressly waived by Borrower, and whether or not Bank shall 
have declared this Note to be due and payable in accordance with the terms 
hereof, to set off against, and to appropriate and apply to the payment of, 
Borrower's obligations and liabilities under this Note (whether matured or 
unmatured, fixed or contingent, liquidated or unliquidated), any and all 
amounts owing by Bank to Borrower (whether payable in U.S. dollars or any 
other currency, whether matured or unmatured, and in the case of deposits, 
whether general or special (except trust and escrow accounts), time or demand 
and however evidenced), and (ii) pending any such action, to the extent 
necessary, to hold such amounts as collateral to secure such obligations and 
liabilities and to return as unpaid 
                                       


                                      -9-

<PAGE>

for insufficient funds any and all checks and other items drawn against any 
deposits so held as Bank, in its sole discretion, may elect.  Bank agrees to 
provide notice to Borrower of any action taken by- Bank under this paragraph 
(e) within 3 business days. Borrower' hereby grants to Bank a security 
interest in all deposits and accounts maintained with Bank and with any other 
financial institution to secure the payment of all obligations and 
liabilities of Borrower to Bank under this Note.

     (f)  BUSINESS PURPOSE.  Borrower represents and warrants that all 
loans evidenced by this Note are for a business, commercial, investment, 
agricultural or other similar purpose and not primarily for a personal, 
family or household use.

     (g)  CERTAIN TRI-PARTY ACCOUNTS.   Borrower and Bank agree that Chapter 
346 of the Texas Finance Code (which regulates certain revolving credit loan 
accounts and revolving triparty accounts) shall not apply to any revolving 
loan accounts treated under this Note or maintained in connection herewith.

NOTICE:   THIS NOTE AND ALL OTHER DOCUMENTS RELATING TO THE INDEBTEDNESS 
EVIDENCED HEREBY CONSTITUTE A WRITTEN LOAN AGREEMENT WHICH REPRESENTS THE 
FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE 
OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES.  
THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES RELATING TO THIS 
NOTE AND THE INDEBTEDNESS EVIDENCED HEREBY.

     IN WITNESS WHEREOF, the undersigned has executed this Note as of the 
date first written above.

PRECEPT BUSINESS SERVICES, INC.    WINGTIP COURIERS, INC

By: /s/ SCOTT B. WALKER            By: /s/ SCOTT B. WALKER
   ---------------------------        -------------------------

Title: SVP & CFO                   Title: SVP & CFO
      ------------------------           ----------------------

PRECEPT TRANSPORTATION             PRECEPT TRANSPORTATION
     SERVICES OF TEXAS, INC.            SERVICES,  L.L.C.

By: /s/ SCOTT B. WALKER            By:  Precept Business Services,
   ---------------------------          Inc., Member
Title: SVP & CFO
       -----------------------          By: /s/ SCOTT B. WALKER
                                           ---------------------
                                        Title: SVP & CFO
                                              ------------------


PRECEPT BUSINESS PRODUCTS, INC.    RELAY COURIERS, INC.

By: /s/ SCOTT B. WALKER            By: /s/ SCOTT B. WALKER
   ---------------------------        --------------------------
Title: SVP & CFO                   TITLE: SVP & CFO
      ------------------------           -----------------------


                                     -10-
<PAGE>

EXHIBIT 10.9
                                       
                  FIRST AMENDED AND RESTATED CREDIT AGREEMENT

     THIS FIRST AMENDED AND RESTATED CREDIT AGREEMENT is entered into as of 
March 20, 1998, by and between Precept Business Services, Inc. (formerly 
known as Precept Investors, Inc.), a Texas corporation ("PBS"), Precept 
Business Products, Inc., a Delaware corporation ("PBI") , Wingtip Couriers, 
Inc., a Texas corporation ("Wingtip"), Precept Transportation Services of 
Texas, Inc. (formerly known as LSL Acquisition Corporation), a Texas 
corporation ("PTST"), Precept Transportation Services, L.L.C. ("PLLC"), a 
Nevada limited liability company, and Relay Couriers, Inc., a Texas 
corporation ("Relay"), (PBS, PBI, Wingtip, PTST, PLLC and Relay are 
individually hereinafter referred to as a "Borrower" and collectively as the 
"Borrowers"), and WELLS FARGO BANK (TEXAS), NATIONAL ASSOCIATION ("Bank").
                                       
                                    RECITALS

     Bank and Precept Investors, Inc., PBI, Wingtip and LSL Acquisition 
Corporation have previously entered into a Credit Agreement, dated as of July 
1, 1997 (the "Original Agreement") pursuant to which Bank extended certain 
credit accommodations described therein.

     Precept Investors, Inc. has changed its name to Precept Business 
Services, Inc. and LSL Acquisition Corporation has changed its name to 
Precept Transportation Services of Texas, Inc.

     PBS, PBI, Wingtip and PTST have requested Bank to make certain 
amendments to the Original Agreement.  Borrowers have requested from Bank the 
credit accommodations described below (each, a "Credit" and collectively, the 
"Credits"), and Bank has agreed to provide the Credits to Borrowers on the 
terms and conditions contained herein.

     NOW, THEREFORE, for valuable consideration, the receipt and sufficiency 
of which are hereby acknowledged, Bank and each Borrower hereby agree that 
the Original Agreement is hereby amended and restated in its entirety as 
follows:
                                       
                                   ARTICLE I
                                  THE CREDITS

     SECTION 1.1.   LINE OF CREDIT.

     (a)  LINE OF CREDIT.  Subject to the terms and conditions of this 
Agreement, Bank hereby agrees to make advances to Borrowers from time to time 
up to and including March 31, 2001, not to exceed at any time the aggregate 
principal amount of Fifteen Million Dollars ($15,000,000.00) LESS the 
original principal 

<PAGE>

amount of the Term Loan ("Line of Credit"), the proceeds of which shall be 
used for working capital and acquisitions.  Borrower's obligation to repay 
advances under the Line of Credit shall be evidenced by a promissory note 
substantially in the form of Exhibit A attached hereto ("Line of Credit 
Note"), all terms of which are incorporated herein by this reference; 
provided, that in the event the Term Loan is made by Bank to Borrowers 
pursuant to the terms of this Agreement, the maximum aggregate principal 
amount of the Line of Credit shall automatically be reduced to $15,000,000 
less the original principal amount of the Term Loan.

     (b)  LIMITATION ON BORROWINGS.  Outstanding borrowings under the Line of 
Credit**to a maximum of the principal amount set forth above, shall not at 
any time exceed an aggregate of eighty percent (80%) of the aggregate amount 
of eligible accounts receivable of PBI, Wingtip, Relay, PTST, PLLC, Shortway 
River Rouge, Inc., Jetport Express, Inc. and Transportation Systems 
Corporation, Inc., PLUS thirty percent (30%) of the value of eligible 
inventory of the Borrowers, (exclusive of work in process and inventory which 
is obsolete, unsaleable or damaged), with value defined as fair market value; 
provided however, that outstanding borrowings against Borrowers' inventory 
shall not at any time exceed an aggregate of Five Million Dollars 
($5,000,000.00); plus twenty-five percent (25%) of the net fixed assets (as 
defined by generally accepted accounting principles) of Borrowers; provided 
however that outstanding borrowings against net fixed assets shall not at any 
time exceed an aggregate of One Million Dollars ($1,000,000.00) .  All of the 
foregoing shall be determined by Bank upon receipt and review of all 
collateral reports required hereunder and such other documents and collateral 
information as Bank may from time to time require. Borrowers acknowledge that 
said borrowing base was established by Bank with the assumption that, among 
other items, the aggregate of all returns, rebates, discounts, credits and 
allowances for the three (3) months immediately preceding any date of 
determination shall at all times be less than five percent (5%) of Borrower's 
gross sales for said period.  If such dilution of Borrower's accounts for the 
immediately preceding three (3) months at any time exceeds five percent (5%) 
of Borrower's gross sales for said period, Bank, in its sole discretion, may 
reduce the foregoing advance rate against eligible accounts receivable to a 
percentage appropriate to reflect such additional dilution and/or establish 
additional reserves against Borrower's eligible accounts receivable; 
provided, however, that the Bank shall make no such reduction in excess of 
twenty-five percent (25%) of the then existing advance rate during any 90-day 
period.

     As used herein, "eligible accounts receivable" shall consist solely of 
trade accounts created in the ordinary course of Borrower's business, upon 
which Borrower's right to receive payment is absolute and not contingent upon 
the fulfillment of

**   except for the amount of any undrawn Letter or Letters of Credit issued
     pursuant to paragraph (c) hereof
                                       


                                      -2-

<PAGE>

any condition whatsoever, and in which Bank has a perfected security interest 
of first priority, and shall not include:

          (i)    any account which is more than sixty (60) days pasT due

          (ii)   that portion of any account for which there exists any right 
     of setoff, defense or discount (except regular discounts allowed in the
     ordinary course of business to promote prompt payment) or for which any
     defense or counterclaim has been asserted;

          (iii)  any account which represents an obligation of any state or
     municipal government or of the United States government or any political
     subdivision thereof (except accounts which represent obligations of the
     United States government and for which Bank's forms N-138 and N-139 have
     been duly executed and acknowledged);

          (iv)   any account which represents an obligation of an account debtor
     located in a foreign country;

          (v)    any account which arises from the sale or lease to or 
     performance of services for, or represents an obligation of, an employee, 
     affiliate, partner, member, parent or subsidiary of any Borrower;

          (vi)   that portion of any account which represents interim or 
     progress billings or retention rights on the part of the account debtor;

          (vii)  any account which represents an obligation of any account 
     debtor when twenty percent (20%) or more of Borrowers' accounts from such 
     account debtor are not eligible pursuant to (i) above;

          (viii) that portion of any account from an account debtor which
     represents the amount by which Borrower's total accounts from said account
     debtor exceeds twenty-five percent (25%) of Borrowers' total accounts;

          (ix)   any account deemed ineligible by Bank when Bank, in its sole
     discretion, deems the creditworthiness or financial condition of the
     account debtor, or the industry in which the account debtor is engaged, 
     to be unsatisfactory.

     Notwithstanding anything in this Section 1.1(b) to the contrary, from 
the date hereof, to and including May 31, 1998, the limitation on borrowings 
pursuant to this Section 1.1(b) shall be increased by $2,000,000.00.
                                       


                                      -3-

<PAGE>

     (c)  LETTER OF CREDIT SUBFEATURE.  As a subfeature under the Line of 
Credit, Bank agrees from time to time during the term thereof to issue 
standby letters of credit for the account of Borrower (each, a "Letter of 
Credit" and collectively, "Letters of Credit"); provided however, that the 
form and substance of each Letter of Credit shall be subject to approval by 
Bank, in its sole discretion; and provided further, that the aggregate 
undrawn amount of all outstanding Letters of Credit shall not at any time 
exceed One Million Dollars ($1,000,000.00).  Each Letter of Credit shall be 
issued for a term not to exceed seven hundred-twenty (720) days, as 
designated by Borrower; provided however, that no Letter of Credit shall have 
an expiration date subsequent to the maturity date of the Line of Credit.  
The undrawn amount of all Letters of Credit shall be reserved under the Line 
of Credit and shall not be available for borrowings thereunder. Each Letter 
of Credit shall be subject to the additional terms and conditions of the 
Letter of Credit Agreement and related documents, if any, required by Bank in 
connection with the issuance thereof (each, a "Letter of Credit Agreement" 
and collectively, "Letter of Credit Agreements") .  Each draft paid by Bank 
under a Letter of Credit shall be deemed an advance under the Line of Credit 
and shall be repaid by Borrower in accordance with the terms and conditions 
of this Agreement applicable to such advances; provided however, that if 
advances under the Line of Credit are not available, for any reason, at the 
time any draft is paid by Bank, then Borrower shall immediately pay to Bank 
the full amount of such draft, together with interest thereon from the date 
such amount is paid by Bank to the date such amount is fully repaid by 
Borrower, at the rate of interest applicable to advances under the Line of 
Credit.  In such event Borrower agrees that' Bank, in its sole discretion, 
may debit any demand deposit account maintained by Borrower with Bank for the 
amount of any such draft.

     (d)  BORROWING AND REPAYMENT.  Borrowers may from time to time during 
the term of the Line of Credit borrow, partially or wholly repay its 
outstanding borrowings, and reborrow, subject to all of the limitations, 
terms and conditions contained herein or in the Line of Credit Note; provided 
however, that the total outstanding borrowings under the Line of Credit shall 
not at any time exceed the maximum principal amount available thereunder, as 
set forth above.

SECTION 1.2.   TERM LOAN.

     (a)  TERM LOAN.  Subject to the terms and conditions of this Agreement, 
Bank hereby agrees to make a loan to Borrowers in the aggregate principal 
amount not to exceed Four Million Dollars ($4,000,000.00) ("Term Loan"), the 
proceeds of which shall be used to refinance a portion of the Line Of Credit. 
Borrower's obligation to repay the Term Loan shall be evidenced by a 
promissory note substantially in the form of Exhibit B attached 
                                       


                                      -4-

<PAGE>

hereto ("Term Note" and together with the Line of Credit Note, the "Notes"), 
all terms of which are incorporated herein by this reference.  Bank's 
commitment to grant the Term Loan shall terminate on March 15, 2001.

     The right of the Borrowers to convert a portion of the Line of Credit to 
the Term Loan may be exercised only once and is subject to the conditions of 
Section 3.3 of this Agreement.

     Upon the conversion of a portion of the Line of Credit to a Term Loan, 
Bank shall surrender to Borrowers the Line of Credit Note in exchange for a 
replacement Line of Credit Note substantially in the form of the promissory 
note attached hereto as Exhibit A, except that the stated principal amount 
shall be $15,000,000 less the original principal amount of the Term Loan.

     (b)  REPAYMENT.  The principal amount of the Term Loan shall be repaid 
in accordance with the provisions of the Term Note.  In completing the blanks 
in the Term Note on its issuance, the principal amount of the Term Note shall 
be amortized over five (5)  years, and principal shall be payable in equal 
successive installments over said amortization term.

     (c)  PREPAYMENT.  Borrowers may prepay principal on the Term Loan solely 
in accordance with the provisions of the Term Note.

     SECTION 1.3.   INTEREST/FEES.

     (a)  INTEREST.  The outstanding principal balance of the Line of Credit 
shall bear interest at the rate of interest set forth in the Line of Credit 
Note.

     (b)  COMMITMENT FEE.  Borrowers shall pay to Bank a non-refundable 
commitment fee for the Line of Credit equal to $25,000 which fee shall be due 
and payable in full on the original execution of the Loan Documents.

     (c)  UNUSED COMMITMENT FEE.  Borrowers shall pay to Bank a fee equal to 
one fourth percent (0.25%) per annum (computed on the basis of a 360-day 
year, actual days elapsed) on the average daily unused amount of the Line of 
Credit, which fee shall be calculated on a quarterly basis by Bank and shall 
be due and payable by Borrowers in arrears within ten (10) days after each 
quarterly billing is sent by Bank. From and after the date that the Term Loan 
is made pursuant to the terms of this Agreement, the unused commitment fee 
shall be calculated on the basis that the maximum amount of the Line of 
Credit is $15,000,000 less the original principal amount of the Term Loan.

     (d)  LETTER OF CREDIT FEES.  Borrower shall pay to Bank (i) fees upon 
the issuance of each Letter of Credit equal to one and one quarter percent 
(1.25%) per annum (computed on the basis 
                                       


                                      -5-

<PAGE>

of a 360-day year, actual days elapsed) of the face amount thereof, and (ii) 
fees upon the payment or negotiation by Bank of each draft under any Letter 
of Credit and fees upon the occurrence of any other activity with respect to 
any Letter of Credit including without limitation, the transfer, amendment or 
cancellation of any Letter of Credit) determined in accordance with Bank's 
standard fees and charges then in effect for such activity.

     SECTION 1.4.  COLLECTION OF PAYMENTS.  Borrowers authorize Bank to 
collect all interest and fees due under each Credit by charging Borrower's 
demand deposit account number 4439-824194 with Bank for the full amount 
thereof. Should there be insufficient funds in any such demand deposit 
account to pay all such sums when due, the full amount of such deficiency 
shall be immediately due and payable by Borrowers.

     SECTION 1.5.   COLLATERAL.

     As security for all indebtedness of Borrowers to Bank subject hereto, 
PBS, PBI, PTST, PLLC and Relay each hereby grants to Bank security interests 
of first priority in all of their respective accounts receivable, general 
intangibles and other rights to payment. In addition, PBI hereby grants to 
Bank a security interest of first priority in all of its inventory and 
equipment.  In addition, Borrowers shall cause Jetport Express, Inc., 
Shortway River Rouge, Inc. and Transportation Systems Corporation to grant 
security interests of first priority in all of their respective accounts 
receivables, general intangibles and other rights to payment and equipment as 
security for all indebtedness of Borrowers to Bank.

     All of the foregoing shall be evidenced by and subject to the terms of 
such security agreements, financing statements, deeds of trust and other 
documents as Bank shall reasonably require, all in form and substance 
satisfactory to Bank. Borrowers shall reimburse Bank immediately upon demand 
for all costs and expenses incurred by Bank in connection with any of the 
foregoing security, including without limitation, filing and recording fees 
and costs of appraisals, audits and title insurance.
                                       
                                  ARTICLE II
                        REPRESENTATIONS AND WARRANTIES

     Each Borrower makes the following representations and warranties to 
Bank, which representations and warranties shall survive the execution of 
this Agreement and shall continue in full force and effect until the full and 
final payment, and satisfaction and discharge, of all obligations of all 
Borrowers to Bank subject to this Agreement.
                                       


                                      -6-

<PAGE>

     SECTION 2.1.  LEGAL STATUS.  Each Borrower, except PLLC, is a 
corporation duly organized, validly existing, and in good standing under the 
laws of its jurisdiction of incorporation. PLLC is a limited liability 
company duly organized, validly existing, and in good standing under the laws 
of its jurisdiction of incorporation. Each Borrower is qualified or licensed 
to do business (and is in good standing as a foreign corporation, if 
applicable) in all jurisdictions in which such qualification or licensing is 
required or in which the failure to so qualify or to be so licensed could 
have a material adverse effect on such Borrower.

     SECTION 2.2.  AUTHORIZATION AND VALIDITY.  This Agreement, the Notes, 
and each other document, contract and instrument required hereby or at any 
time hereafter delivered to Bank in connection herewith (collectively, the 
"Loan Documents") have been duly authorized, and upon their execution and 
delivery in accordance with the provisions hereof will constitute legal, 
valid and binding agreements and obligations of each Borrower or the party 
which executes the same, enforceable in accordance with their respective 
terms.

     SECTION 2.3.  NO VIOLATION.  The execution, delivery and performance by 
Borrowers of each of the Loan Documents do not violate any provision of any 
law or regulation, or contravene any provision of the Articles of 
Incorporation or By-Laws and Articles of Organization or Operating Agreement 
of any Borrower, as applicable, or result in any breach of or default under 
any material contract, obligation, indenture or other instrument to which any 
Borrower is a party or by which any Borrower may be bound.

     SECTION 2.4.  LITIGATION.  There are no pending, or to the best of any 
Borrower's knowledge threatened, actions, claims, investigations, suits or 
proceedings by or before any governmental authority, arbitrator, court or 
administrative agency which could have a material adverse effect on the 
financial condition or operation of any Borrower other than those disclosed 
by Borrowers to Bank in writing prior to the date hereof.

     SECTION 2.5.  CORRECTNESS OF FINANCIAL STATEMENT.  Each of (a) the 
audited financial statement of PBS dated June 30, 1997, and (b) the interim 
unaudited consolidated financial statement of PBS dated January 31, 1998 (i) 
presents fairly the financial condition of Borrowers, (ii) discloses all 
liabilities of Borrowers that are required to be reflected or reserved 
against under generally accepted accounting principles, whether liquidated or 
unliquidated, fixed or contingent, and (iii) has been prepared in accordance 
with generally accepted accounting principles ("GAAP") consistently applied 
(it being understood that all interim statements are subject to year end 
audit 
                                       


                                      -7-

<PAGE>

adjustments and are not required to have footnote disclosures) A true copy of 
each such statement has been delivered to Bank prior to the date hereof.  
Since the date of such financial statement there has been no material adverse 
change in the financial condition of any Borrower, except as has been 
previously disclosed to Bank in writing, nor has any Borrower mortgaged, 
pledged, granted a security interest in or otherwise encumbered any of its 
assets or properties except in favor of Bank or as otherwise permitted by 
Bank in writing.

     SECTION 2.6.   INCOME TAX RETURNS.  No Borrower has any knowledge of any 
pending assessments or adjustments of its respective income tax payable with 
respect to any year.

     SECTION 2.7.  NO SUBORDINATION.  There is no agreement, indenture, 
contract or instrument to which any Borrower is a party or by which any 
Borrower may be bound that requires the subordination in right of payment of 
any of Borrower's obligations subject to this Agreement to any other 
obligation of such Borrower.

     SECTION 2.8.  PERMITS, FRANCHISES.  Each Borrower possesses, and will 
hereafter possess, all permits, consents, approvals, franchises and licenses 
required and rights to all trademarks, trade names, patents, and fictitious 
names, if any, the absence of which could have a material adverse effect on 
the ability of such Borrower to conduct the business in which it is now 
engaged in compliance with applicable law.

     SECTION 2.9.  ERISA.  Each Borrower is in compliance in all material 
respects with all applicable provisions of the Employee Retirement Income 
Security Act of 1974, as amended or recodified from time to time ("ERISA"); 
no Borrower has violated any provision of any defined employee pension 
benefit plan (as defined in ERISA) maintained or contributed to by any such 
Borrower (each, a "Plan"); no Reportable Event as defined in ERISA has 
occurred and is continuing with respect to any Plan initiated by any 
Borrower; each Borrower has met its minimum funding requirements under ERISA 
with respect to each Plan; and each Plan will be able to fulfill its benefit 
obligations as they come due in accordance with the Plan documents and under 
generally accepted accounting principles.

     SECTION 2.10. OTHER OBLIGATIONS.  No Borrower is in default on any 
obligation for borrowed money, any purchase money obligation or any other 
material lease, commitment, contract, instrument or obligation.

     SECTION 2.11. ENVIRONMENTAL MATTERS.  Except as disclosed by Borrowers 
to Bank in writing prior to the date hereof, each Borrower is in compliance 
in all material respects with all applicable federal or state environmental, 
hazardous waste, 
                                       


                                      -8-

<PAGE>

health and safety statutes, and any rules or regulations adopted pursuant 
thereto, which govern or affect any of such Borrower's operations and/or 
properties, including without limitation, the Comprehensive Environmental 
Response, Compensation and Liability Act of 1980, the Superfund Amendments 
and Reauthorization Act of 1986, the Federal Resource Conservation and 
Recovery Act of 1976, and the Federal Toxic Substances Control Act, as any of 
the same may be amended, modified or supplemented from time to time.  None of 
the operations of any Borrower is the subject of any federal or state 
investigation evaluating whether any remedial action involving a material 
expenditure is needed to respond to a release of any toxic or hazardous waste 
or substance into the environment.  No Borrower has a material contingent 
liability in connection with any release of any toxic or hazardous waste or 
substance into the environment.
                                       
                                   ARTICLE III
                                   CONDITIONS

     SECTION 3.1.  CONDITIONS OF INITIAL EXTENSION OF CREDIT. The obligation 
of Bank to grant any of the Credits is subject to the fulfillment to Bank's 
satisfaction of all of the following conditions:

     (a)  APPROVAL OF BANK COUNSEL.  All legal matters incidental to the 
granting of each of the Credits shall be satisfactory to Bank's counsel.

     (b)  DOCUMENTATION.  Bank shall have received, in form and substance 
satisfactory to Bank, each of the following, duly executed:

     (i)  This Agreement and the Notes;
     (ii) Corporate Borrowing Resolution and Certificate of Incumbency for
          Precept Business Services, Inc.;
    (iii) Corporate Borrowing Resolution and Certificate of Incumbency for
          Precept Business Products, Inc.;
     (iv) Corporate Borrowing Resolution and Certificate of Incumbency for
          Wingtip Couriers, Inc.;
     (v)  Corporate Borrowing Resolution and Certificate of Incumbency for
          Precept Transportation Services of Texas, Inc.;
     (vi) Limited Liability Company Borrowing Certificate and Certificate of
          Incumbency for Precept Transportation Services of Texas, L.L.C.;
    (vii) Corporate Borrowing Resolution and Certificate of Incumbency for Relay
          Couriers, Inc.;
   (viii) Corporate Resolution: Pledge of Assets and Certificate of Incumbency
          for Jetport Express, Inc.;
     (ix) Corporate Resolution: Pledge of Assets and Certificate of Incumbency
          for Shortway River Rouge, Inc.;
     (x)  Corporate Resolution: Pledge of Assets and Certificate of Incumbency
          for Transportation Systems Corporation;
     (xi) Third Party Security Agreement: Rights to Payment for Jetport Express,
          Inc.;
                                       


                                      -9-

<PAGE>

    (xii) Third Party Security Agreement: Equipment for Jetport Express, Inc.;
   (xiii) Third Party Security Agreement: Rights to Payment for Shortway River
          Rouge, Inc.;
    (xiv) Third Party Security Agreement: Equipment for Shortway River Rouge,
          Inc.;
     (xv) Third Party Security Agreement: Rights to Payment for Transportation
          Systems Corporation.;
    (xvi) Third Party Security Agreement: Equipment for Transportation Systems
          Corporation.;
   (xvii) Security Agreement: Rights to Payment for Precept Transportation
          Services of Texas, Inc.;
  (xviii) Security Agreement: Rights to Payment for Precept Transportation
          Services, L.L.C.;
    (xix) Security Agreement: Rights to Payment & Inventory for Precept Business
          Products, Inc.;
     (xx) Security Agreement: Equipment for Precept Business Products, Inc.,
    (xxi) Security Agreement: Rights to Payment for Wingtip Couriers, Inc.,
   (xxii) Security Agreement: Rights to Payment for Precept Business Services,
          Inc.;
  (xxiii) Security Agreement: Rights to Payment for Relay Couriers,  Inc.;
   (xxiv) UCC Financing Statements; and
    (xxv) Such other documents as Bank may require under any other Section of
          this Agreement.

     (c)  FINANCIAL CONDITION.  Except as has been previously disclosed to 
Bank in writing relating to the losses incurred by Precept Builders, Inc., 
there shall have been no material adverse change, as determined by Bank, in 
the financial condition or business of any Borrower, nor any material 
decline, as determined by Bank, in the market value of any collateral 
required hereunder or a substantial or material portion of the assets of any 
Borrower.

     (d)  INSURANCE.  Each Borrower shall have delivered to Bank evidence of 
insurance coverage on all such Borrower's property, in form, substance, 
amounts, covering risks and issued by companies satisfactory to Bank, and 
where required by Bank, with loss payable endorsements in favor of Bank.

          SECTION 3.2.  CONDITIONS OF EACH EXTENSION OF CREDIT. The 
obligation of Bank to make each extension of credit requested by any Borrower 
hereunder shall be subject to the fulfillment to Bank's satisfaction of each 
of the following conditions:
                                       


                                      -10-

<PAGE>

     (a)  COMPLIANCE.  The representations and warranties contained herein 
and in each of the other Loan Documents shall be true on and as of the date 
of the signing of this Agreement and on the date of each extension of credit 
by Bank pursuant hereto, with the same effect as though such representations 
and warranties had been made on and as of each such date, and on each such 
date, no Event of Default as defined herein, and no condition, event or act 
which with the giving of notice or the passage of time or both would 
constitute such an Event of Default, shall have occurred and be continuing or 
shall exist.

     (b)  DOCUMENTATION.  Bank shall have received all additional documents 
which may be required in connection with such extension of credit.

     Section 3.3.  ADDITIONAL CONDITIONS TO MAKING OF THE TERM LOAN.  The 
obligation of Bank to make the Term Loan shall be subject to the fulfillment 
to Bank's satisfaction of each of the following conditions:

     (a)  The consolidated EBITDA of PBS must be equal to or greater than 
$4,000,000 for the twelve (12) month period ending on the last day of the 
calendar month immediately preceding the date Borrower's request the Bank to 
make the Term Loan."EBITDA" is defined as (a) net income, after income taxes, 
determined in conformity with GAAP; plus (b) income taxes deducted in 
determining net income; plus (c) interest expense deducted in determining net 
income; plus (d) amortization and depreciation expenses deducted in 
determining net income; plus (e) other non-cash charges (excluding accruals 
in the normal course of business), deducted in determining net income.

     (b)  Borrowers must request Bank in writing to make the Term Loans no 
later than March 15, 2001.

     (c)  Borrowers must execute and deliver the Term Note in the form of 
Exhibit "B" attached hereto, with all blanks appropriately completed.
                                       
                                   ARTICLE IV
                              AFFIRMATIVE COVENANTS

     Each Borrower covenants that so long as Bank remains committed to extend 
credit to any Borrower pursuant hereto, or any liabilities (whether direct or 
contingent, liquidated or unliquidated) of any Borrower to Bank under any of 
the Loan Documents remain outstanding, and until payment in full of all 
obligations of all Borrowers subject hereto, each Borrower shall, unless Bank 
otherwise consents in writing:
                                       


                                      -11-

<PAGE>

     SECTION 4.1.   PUNCTUAL PAYMENTS.  Punctually pay all principal, 
interest, fees or other liabilities due under any of the Loan Documents at 
the times and place and in the manner specified therein, and immediately upon 
demand by Bank, the amount by which the outstanding principal balance of any 
of the Credits at any time exceeds any limitation on borrowings applicable 
thereto.

     SECTION 4.2.   ACCOUNTING RECORDS.  Maintain adequate books and records 
in accordance with generally accepted accounting principles consistently 
applied, and permit any representative of Bank, at any reasonable time, to 
inspect, audit and examine such books and records, to make copies of the 
same, and to inspect the properties of any Borrower.

     SECTION 4.3.   FINANCIAL STATEMENTS.  Provide to Bank all of the 
following, in form and detail satisfactory to Bank:

     (a)  and not later than 120 days after and as of the end of each fiscal 
year, an audited, consolidated financial statement of PBS and all 
subsidiaries, prepared by a certified public accountant acceptable to Bank, 
to include balance sheet, income statement and statement of cash flow;

     (b)  not later than 30 days after and as of the end of each month, a 
consolidating financial statement of PBS, all subsidiaries, prepared by PBS, 
to include balance sheet, income statement and consolidated statement of cash 
flow;

     (c)  contemporaneously with each monthly financial statement of 
Borrowers required hereby, a borrowing base certificate, a summary inventory 
collateral report, and a reconciliation of accounts;

     (d)  contemporaneously with each monthly financial statement of 
Borrowers required hereby, a certificate of the chief executive officer or 
chief financial officer of Borrowers that said financial statements are 
accurate and that there exists no Event of Default nor any condition, act or 
event which with the giving of notice or the passage of time or both would 
constitute an Event of Default;

     (e)  from time to time such other information as Bank may reasonably 
request.

     SECTION 4.4.  COMPLIANCE.  Preserve and maintain all licenses, permits, 
governmental approvals, rights, privileges and franchises necessary for the 
conduct of its business; and comply with the provisions of all documents 
pursuant to which such Borrower is organized and/or which govern such 
Borrower's continued existence and with the requirements of all laws, rules, 
regulations and orders of any governmental authority applicable 
                                       


                                      -12-

<PAGE>

to such Borrower and/or its business other than those laws, rules or 
regulations the noncompliance with which would not have a material adverse 
effect on Borrowers, taken as a whole.

     SECTION 4.5.  INSURANCE.  Maintain and keep in force insurance of the 
types and in amounts customarily carried in lines of business similar to that 
of such Borrower, including but not limited to fire, extended coverage, 
public liability, flood, property damage and workers' compensation, with all 
such insurance carried with companies and in amounts satisfactory to Bank, 
and deliver to Bank from time to time at Bank's request schedules setting 
forth all insurance then in effect.

     SECTION 4.6.  FACILITIES.  Keep all properties useful or necessary to 
such Borrower's business in good repair and condition, and from time to time 
make necessary repairs, renewals and replacements thereto so that such 
properties shall be fully and efficiently preserved and maintained.

     SECTION 4.7.  TAXES AND OTHER LIABILITIES.  Pay and discharge when due 
any and all indebtedness, obligations, assessments and taxes, both real or 
personal, including without limitation federal and state income taxes and 
state and local property taxes and assessments, except such (a) as such 
Borrower may in good faith contest or as to which a bona fide dispute may 
arise, and (b) for which such Borrower has made provision, to Bank's 
satisfaction, for eventual payment thereof in the event such Borrower is 
obligated to make such payment.

     SECTION 4.8.   LITIGATION.  Promptly give notice in writing to Bank of 
any material litigation to Borrower's knowledge pending or threatened against 
any Borrower.

     SECTION 4.9.  FINANCIAL CONDITION.  Maintain PBS's financial condition 
as follows using generally accepted accounting principles consistently 
applied and used consistently with prior practices (except to the extent 
modified by the definitions herein), with compliance determined commencing 
with PBS' financial statements for the period ending March 31, 1998:

     (a)  Current Ratio not at any time less than 1.20 to 1.0 as of the end 
of each fiscal quarter, with "Current Ratio" defined as total current assets 
divided by total current liabilities.

     (b)  Debt Service Coverage Ratio not less than 1.5 to 1.0 as of the end 
of each fiscal quarter with "Debt Service Coverage Ratio" defined as EBITDA 
for the twelve (12) month period ending on the last day of the immediately 
preceding fiscal quarter divided by the sum of the following (without 
duplication) (a) total interest expense deducted in determining net income 
for the twelve (12) month period ending on the last day of the immediately 
preceding fiscal quarter; plus (b) all current 
                                       


                                      -13-

<PAGE>

maturities of principal with respect to all unsubordinated long-term 
indebtedness, excluding any amount outstanding under the Line of Credit, of 
Borrowers as of the last day of the immediately preceding fiscal quarter.

     (c)  Prior-to the making of the Term Loan, Senior Funded Debt to EBITDA 
Ratio as of the end of each fiscal quarter:

<TABLE>
<S>                                         <C>
     From the date hereof to and
          including June 30, 1998           LESS THAN OR EQUAL TO 6.5 to 1.0

     From July 1, 1998 to and
          including September 30, 1998      LESS THAN OR EQUAL TO 6.0 to 1.0

     From October 1, 1998 to and
          including December 31, 1998       LESS THAN OR EQUAL TO 5.5 to 1.0

     From and after January 1, 1999         LESS THAN OR EQUAL TO 5.0 to 1.0
</TABLE>

As used herein "Senior Funded Debt" shall mean total funded unsubordinated 
indebtedness, according to GAAP and including capital leases but excluding 
any indebtedness and capital leases of U.S. Trucking, Inc., of Borrowers and 
"Senior Funded Debt to EBITDA Ratio" shall mean Senior Funded Debt divided by 
EBITDA for the twelve (12) month period ending on the last day of the 
immediately preceding fiscal quarter.

     (d)  From and after the making of the Term Loan, Senior Funded Debt to 
EBITDA Ratio not greater than 3.5 to 1.0 as of the end of each fiscal quarter.

     SECTION 4.10.  NOTICE TO BANK.  Promptly (but in no event more than ten 
(10) business days after the occurrence of each such event or matter) give 
written notice to Bank in reasonable detail of: (a) the occurrence of any 
Event of Default, or any condition, event or act which with the giving of 
notice or the passage of time or both would constitute an Event of Default; 
(b) any change in the name or the organizational structure of any Borrower, 
or any action, claim, investigation, suit or proceeding pending or asserted 
by or before any governmental authority, arbitrator, court or administrative 
agency challenging or denying PLLC's qualification for tax treatment as if it 
were a partnership for income tax purposes; (c) the occurrence and nature of 
any Reportable Event or Prohibited Transaction, each as defined in ERISA, or 
any funding deficiency with respect to any Plan; or (d) any termination or 
cancellation of any insurance policy which any Borrower is required to 
maintain, or any uninsured or partially uninsured loss through liability or 
property damage, or through fire, theft or any other cause affecting any 
Borrower' s property.
                                       


                                     -14-


<PAGE>
                                       
                                   ARTICLE V
                              NEGATIVE COVENANTS


     Each Borrower further covenants that so long as Bank remains committed 
to extend credit to any Borrower pursuant hereto, or any liabilities (whether 
direct or contingent, liquidated or unliquidated) of any Borrower to Bank 
under any of the Loan Documents remain outstanding, and until payment in full 
of all obligations of all Borrowers subject hereto, no Borrower will, without 
Bank's prior written consent:

     SECTION 5.1.   USE OF FUNDS.  Use any of the proceeds of any of the 
Credits except for the purposes stated in Article I hereof.

     SECTION 5.2.  CAPITAL EXPENDITURES.  Make additional fixed asset 
acquisitions, other than in connection with a merger or acquisition, in any 
fiscal year in excess of an aggregate of $1,000,000.

     SECTION 5.3.  OTHER INDEBTEDNESS.  Create, incur, assume or permit to 
exist any indebtedness or liabilities resulting from borrowings, loans or 
advances, whether secured or unsecured, matured or unmatured, liquidated or 
unliquidated, joint or several, except (a) the liabilities of Borrowers to 
Bank, (b)  any other liabilities of Borrowers existing as of, and disclosed 
to Bank prior to, the date hereof, (c) inter-company indebtedness among 
Borrowers, and (d)indebtedness in addition to the indebtedness permitted by 
clauses (a) through (c) of this subsection 5.3, not to exceed $2,000,000.00 
in the aggregate at any one time outstanding.

     SECTION 5.4.  MERGER, CONSOLIDATION, TRANSFER OF ASSETS. Merge into or 
consolidate with any other entity; make any substantial change in the nature 
of such Borrower's business as conducted as of the date hereof; acquire all 
or substantially all of the assets of any other entity with a purchase price 
or prices in excess of One Million Dollars ($1,000,000) in cash or cash 
equivalent in any fiscal year; nor sell, lease, transfer or otherwise dispose 
of all 'or a substantial or material portion of Borrower's assets except in 
the ordinary course of its business.

     SECTION 5.5.  GUARANTIES.  Guarantee or become liable in any way as 
surety, endorser (other than as endorser of negotiable instruments for 
deposit or collection in the ordinary course of business), accommodation 
endorser or otherwise for, nor pledge or hypothecate any assets of any 
Borrower as security for, any liabilities or obligations of any other person 
or entity, except (a) any of the foregoing in favor of Bank; (b) guaranties 
existing on the date hereof and set forth on Schedule 5.5 and all such 
replacements, renewal, extensions, or amendments thereof so long as the 
amount of such guaranties after such replacement, renewal, 
                                       


                                      -15-

<PAGE>

extension or amendment shall not exceed the amount of such guaranties which 
were outstanding immediately prior to such replacement, renewal, extension, 
or amendment and with respect to the replacement of any guaranties, the terms 
and conditions of any replacement guaranty are not materially different from 
the guarantee being replaced; (c) guaranties with respect to customary 
indemnification and purchase price adjustment obligations incurred in 
connection with asset acquisitions, leases, and asset dispositions and 
guaranties of any Borrower or any Borrowers' subsidiaries as a guarantor of a 
lessee under any lease in which any Borrower or any such subsidiary is the 
lessee so long as such lease is permitted hereunder; (d) guaranties incurred 
in the ordinary course of business (i) with respect to surety and appeal 
bonds and return-of-money bonds and other similar obligations, not exceeding 
at any time outstanding $250,000 in an aggregate liability; and (ii) with 
respect to performance bonds; (e) guaranties with respect to indebtedness 
permitted by Section 5.3; (f) In addition to the guaranties permitted by 
clauses (a) through (e) above, Borrowers may become and remain liable with 
respect to guaranties not to exceed in the aggregate at any one time 
outstanding $500,000. Any amounts that are included in the calculation of 
this clause (f) shall not be included in calculating the guaranties permitted 
under any other clauses of this Section 5.5 and any amounts that are included 
shall not be included in calculating guaranties permitted under this clause 
(f) of this Section 5.5.

     SECTION 5.6.  LOANS, ADVANCES, INVESTMENTS.  Make any loans or advances 
to or investments in any person or entity, except (a) any of the foregoing 
existing as of, and disclosed to Bank prior to, the date hereof; (b) 
additional investments in any person or entity, in amounts not to exceed an 
aggregate of $1,000,000 in cash or cash equivalent in any fiscal year, and 
(c) investments in readily marketable securities.

     SECTION 5.7.  PLEDGE OF ASSETS.  Mortgage, pledge, grant or permit to 
exist a security interest in, or lien upon, all or any portion of Borrower's 
assets now owned or hereafter acquired, except any of the foregoing in favor 
of Bank or which is existing as of, and disclosed to Bank in writing prior 
to, the date hereof.
                                       
                                  ARTICLE VI
                               EVENTS OF DEFAULT


     SECTION 6.1.   The occurrence of any of the following shall constitute 
an "Event of Default" under this Agreement:

     (a)  Any Borrower shall fail to pay within five (5) business days of 
when due any principal, interest, fees or other amounts payable under any of 
the Loan Documents.
                                       


                                      -16-

<PAGE>

     (b)  Any financial statement or certificate furnished to Bank in 
connection with, or any representation or warranty made by any Borrower or 
any other party under this Agreement or any other Loan Document shall prove 
to be incorrect, false or misleading in any material respect when furnished 
or made.

     (c)  Any default in the performance of or compliance with any 
obligation, agreement or other provision contained herein or in any other 
Loan Document (other than those referred to in subsections (a) and (b) 
above), and with respect to any such default which by its nature can be 
cured, such default shall continue for a period of thirty (30) days from its 
occurrence.

     (d)  Any default in the payment or performance of any material 
obligation, or any defined event of default, under the terms of any contract 
or instrument (other than any of the Loan Documents) pursuant to which any 
Borrower has incurred any debt or other liability to any person or entity, 
including Bank.

     (e)  The filing of a notice of any material judgment lien against any 
Borrower; or the recording of any material abstract of judgment against any 
Borrower in any county in which such Borrower has an interest in real 
property; or the service of any material notice of levy and/or of any 
material writ of attachment or execution, or other like process, against the 
assets of any Borrower; or the entry of any material judgment against any 
Borrower; provided any such judgement, notice of levy and/or writ of 
attachment or execution or other like process remains undischarged, 
unvacated, unbonded, or unstayed for a period of thirty (30) days or in any 
event later than five (5) days prior to the date of any execution of such 
judgement, levy, writ of attachment or similar action.

     (f)  Any Borrower shall become insolvent, or shall suffer or consent to 
or apply for the appointment of a receiver, trustee, custodian or liquidator 
of itself or any of its property, or shall generally fail to pay its debts as 
they become due, or shall make a general assignment for the benefit of 
creditors; any Borrower shall file a voluntary petition in bankruptcy, or 
seeking reorganization, in order to effect a plan or other arrangement with 
creditors or any other relief under the Bankruptcy Reform Act, Title 11 of 
the United States Code, as amended or recodified from time to time 
("Bankruptcy Code"), or under any state or federal law granting relief to 
debtors, whether now or hereafter in effect; or any involuntary petition or 
proceeding pursuant to the Bankruptcy Code or any other applicable state or 
federal law relating to bankruptcy, reorganization or other relief for 
debtors is filed or commenced against any Borrower, or any Borrower shall 
file an answer admitting the jurisdiction of the court and the material 
allegations of any involuntary petition; or any Borrower shall be adjudicated 
a bankrupt, or an order for relief shall be entered 
                                       


                                      -17-

<PAGE>

against any Borrower by any court of competent jurisdiction under the 
Bankruptcy Code or any other applicable state or federal law relating to 
bankruptcy, reorganization or other relief for debtors.

     (g)  There shall exist or occur any event or condition which Bank in 
good faith believes materially impairs, or is substantially likely to 
materially impair, the prospect of payment or performance by any Borrower of 
its obligations under any of the Loan Documents.

     (h)  The dissolution or liquidation of any Borrower; or any Borrower, or 
any of its directors, stockholders or members, shall take action seeking to 
effect the dissolution or liquidation of any Borrower.

          SECTION 6.2.  REMEDIES.  Upon the occurrence of any Event of 
Default: (a) all principal and accrued and unpaid interest outstanding under 
each of the Loan Documents, any term thereof to the contrary notwithstanding, 
shall at Bank's option and without notice become immediately due and payable 
without presentment, demand, or any notices of any kind, including without 
limitation notice of nonperformance, notice of protest, protest, notice of 
dishonor, notice of intention to accelerate or notice of acceleration, all of 
which are hereby expressly waived by each Borrower; (b) the obligation, if 
any, of Bank to extend any further credit under any of the Loan Documents 
shall immediately cease and terminate; and (c) Bank shall have all rights, 
powers and remedies available under each of the Loan Documents, or accorded 
by law, including without limitation the right to resort to any or all 
security for any of the Credits and to exercise any or all of the rights of a 
beneficiary or secured party pursuant to applicable law.  All rights, powers 
and remedies of Bank may be exercised at any time by Bank and from time to 
time after the occurrence of an Event of Default, are cumulative and not 
exclusive, and shall be in addition to any other rights, powers or remedies 
provided by law or equity.
                                       
                                   ARTICLE VII
                                  MISCELLANEOUS


     SECTION 7.1.  NO WAIVER.  No delay, failure or discontinuance of Bank in 
exercising any right, power or remedy under any of the Loan Documents shall 
affect or operate as a waiver of such right, power or remedy; nor shall any 
single or partial exercise of any such right, power or remedy preclude, waive 
or otherwise affect any other or further exercise thereof or the exercise of 
any other right, power or remedy.  Any waiver, permit, consent or approval of 
any kind by Bank of any breach of or default under any of the Loan Documents 
must be in writing and shall be effective only to the extent set forth in 
such writing. 
                                       


                                      -18-

<PAGE>

     SECTION 7.2.  NOTICES.  All notices, requests and demands which any 
party is required or may desire to give to any other party under any 
provision of this Agreement must be in writing delivered to each party at the 
following address:

     BORROWERS c/o Precept Business Services, Inc.
               1909 Woodall Rodgers Freeway, Ste. 500
               Dallas, Texas 75201
               Attn:  CFO & General Counsel

     BANK:     WELLS FARGO BANK (TEXAS),
               NATIONAL ASSOCIATION
               Dallas Regional Commercial Banking Office
               1445 Ross Avenue, 3rd Floor
               Dallas, Texas 75202
               Attn:  Mr. Brent Bertino or Mr. Drew Keith


or to such other address as any party may designate by written notice to all 
other parties.  Each such notice, request and demand shall be deemed given or 
made as follows: (a) if sent by hand delivery, upon delivery; (b) if sent by 
mail, upon the earlier of the date of receipt or three (3) days after deposit 
in the U.S. mail, first class and postage prepaid; and (c) if sent by 
telecopy, upon receipt.

     SECTION 7.3.  COSTS, EXPENSES AND ATTORNEYS' FEES. Borrowers shall pay 
to Bank immediately upon demand the full amount of all payments, advances, 
charges, costs and expenses, including reasonable attorneys' fees (to include 
outside counsel fees and all reasonable allocated costs of Bank's in-house 
counsel to the extent permissible), expended or incurred by Bank in 
connection with (a) Bank's continued administration hereof and thereof, and 
the preparation of any amendments and waivers hereto and thereto, (b) the 
enforcement of Bank's rights and/or the collection of any amounts which 
become due to Bank under any of the Loan Documents, and (c) the prosecution 
or defense of any action in any way related to any of the Loan Documents, 
including without limitation, any action for declaratory relief, whether' 
incurred at the trial or appellate level, in an arbitration proceeding or 
otherwise, and including any of the foregoing incurred in connection with any 
bankruptcy proceeding (including without limitation, any adversary 
proceeding, contested matter or motion brought by Bank or any other person) 
relating to any Borrower or any other person or entity. With regard to any 
expenses or fees expended or incurred by Bank resulting from any actions 
under Section 4.2, Borrowers shall be liable for no more than $3,000 annually.

     SECTION 7.4.   SUCCESSORS, ASSIGNMENT.  This Agreement shall be binding 
upon and inure to the benefit of the heirs, executors, 
                                       


                                      -19-

<PAGE>

administrators, legal representatives, successors and assigns of the parties; 
provided however, that no Borrower may assign or transfer its interest 
hereunder without Bank's prior written consent.  Bank reserves the right to 
sell, assign, transfer, negotiate or grant participations in all or any part 
of, or any interest in, Bank's rights and benefits under each of the Loan 
Documents; provided that the amount of commitments and loans of the Bank 
being assigned shall in no event be less than the lesser of (i) $3,000,000 or 
(ii) the entire amount of the commitment and loans of Bank. In case of an 
assignment authorized under this subsection 7.4, the assignee shall have, to 
the extent of such assignment, the same rights, benefits, and obligations as 
it would have if it were the Bank. Bank may sell participations in all or any 
part of any loans made by it to Borrowers; provided, however, that, Borrowers 
shall continue to deal solely and directly with Bank in connection with 
Bank's rights and obligations under this Agreement; provided, further, that 
all amounts payable by Borrower's hereunder shall be calculated as if Bank 
had not sold such participation and the holder of any such participation 
shall not be entitled to require Bank to take or omit to take any action 
hereunder; provided, further, that the amount of loans of Bank being 
participated shall in no event be less than the lesser of (a) $3,000,000 or 
(b) the entire amount of loans of Bank. Bank shall not, as between Borrowers 
and Bank, be relieved of any of its obligations hereunder as a result of any 
sale, assignment, transfer, or negotiation of, or granting of participation 
in, all or any part of the Loan, the Notes, or other obligations owed to 
Bank.  In connection therewith, Bank may disclose all documents and 
information which Bank now has or may hereafter acquire relating to any of 
the Credits, any Borrower or its business, or any collateral required 
hereunder, with prior written notice to Borrowers.

     SECTION 7.5.   AMENDMENT.  This Agreement may be amended or modified 
only in writing signed by each party hereto.

     SECTION 7.6.   NO THIRD PARTY BENEFICIARIES.  This Agreement is made and 
entered into for the sole protection and benefit of the parties hereto and 
their respective permitted successors and assigns, and no other person or 
entity shall be a third party beneficiary of, or have any direct or indirect 
cause of action or claim in connection with, this Agreement or any other of 
the Loan Documents to which it is not a party.

     SECTION 7.7.   TIME.  Time is of the essence of each and every provision 
of this Agreement and each other of the Loan Documents.

     SECTION 7.8.   SEVERABILITY OF PROVISIONS.  If any provision of this 
Agreement shall be prohibited by or invalid under applicable law, such 
provision shall be ineffective only to the extent of such prohibition or 
invalidity without invalidating the 
                                       


                                      -20-

<PAGE>

remainder of such provision or any remaining provisions of this Agreement.

     SECTION 7.9.   COUNTERPARTS.  This Agreement may be executed in any 
number of counterparts, each of which when executed and delivered shall be 
deemed to be an original, and all of which when taken together shall 
constitute one and the same Agreement.

     SECTION 7.10.  GOVERNING LAW.  This Agreement shall be governed by and 
construed in accordance with the laws of the State of Texas.

     SECTION 7.11.  SAVINGS CLAUSE.  It is the intention of the parties to 
comply strictly with applicable usury laws. Accordingly, notwithstanding any 
provision to the contrary in the Loan Documents, in no event shall any Loan 
Documents require the payment or permit the payment, taking, reserving, 
receiving, collection or charging of any sums constituting interest under 
applicable laws that exceed the maximum amount permitted by such laws, as the 
same may be amended or modified from time to time (the "Maximum Rate") .  If 
any such excess interest is called for, contracted for, charged, taken, 
reserved or received in connection with any Loan Documents, or in any 
communication by Bank or any other person to any Borrower or any other 
person, or in the event that all or part of the principal or interest hereof 
or thereof shall be prepaid or accelerated, so that under any of such 
circumstances or under any other circumstance whatsoever the amount of 
interest contracted for, charged, taken, reserved or received on the amount 
of principal actually outstanding from time to time under the Loan Documents 
shall exceed the Maximum Rate, then in such event it is agreed that: (i) the 
provisions of this paragraph shall govern and control; (ii) neither Borrowers 
nor any other person or entity now or hereafter liable for the payment of any 
Loan Documents shall be obligated to pay the amount of such interest to the 
extent it is in excess of the Maximum Rate; (iii) any such excess interest 
which is or has been received by Bank, notwithstanding this paragraph, shall 
be credited against the then unpaid principal balance hereof or thereof, or 
if any of the Loan Documents has been or would be paid in full by such 
credit, refunded to Borrowers; and (iv) the provisions of each of the Loan 
Documents, and any other communication to any Borrower, shall immediately be 
deemed reformed and such excess interest reduced, without the necessity of 
executing any other document, to the Maximum Rate.  The right to accelerate 
the maturity of the Loan Documents does not include the right to accelerate, 
collect or charge unearned interest, but only such interest that has 
otherwise accrued as of the date of acceleration.  Without limiting the 
foregoing, all calculations of the rate of interest contracted for, charged, 
taken, reserved or received in connection with any of the Loan Documents 
which are made for the purpose of determining whether such rate exceeds the 
Maximum Rate shall be made to the extent permitted by 
                                       


                                      -21-

<PAGE>

applicable laws by amortizing, prorating, allocating and spreading during the 
period of the full term of such Loan Documents, including all prior and 
subsequent renewals and extensions hereof or thereof, all interest at any 
time contracted for, charged, taken, reserved or received by Bank. The terms 
of this paragraph shall be deemed to be incorporated into each of the other 
Loan Documents.

     To the extent that Chapter ID of Article 5069 of the Texas Revised Civil 
Statutes is relevant to Bank for the purpose of determining the Maximum Rate, 
Bank hereby elects to determine the applicable rate ceiling under such 
Article by the weekly rate ceiling from time to time in effect, subject to 
Bank's right subsequently to change such method in accordance with applicable 
law, as the same may be amended or modified from time to time.

     SECTION 7.12.  RIGHT OF SETOFF; DEPOSIT ACCOUNTS.  Upon and after the 
occurrence of an Event of Default except Section 6.1 (d), (a) each Borrower 
hereby authorizes Bank, at any time and from time to time, without notice, 
which is hereby expressly waived by each Borrower, and whether or not Bank 
shall have declared the Credits to be due and payable in accordance with the 
terms hereof, to set off against, and to appropriate and apply to the payment 
of, any Borrower's obligations and liabilities under the Loan Documents 
(whether matured or unmatured, fixed or contingent, liquidated or 
unliquidated), any and all amounts owing by Bank to any Borrower (whether 
payable in U.S. dollars or any other currency, whether matured or unmatured, 
and in the case of deposits, whether general or special (except trust and 
escrow accounts), time or demand and however evidenced), and (b) pending any 
such action, to the extent necessary, to hold such amounts as collateral to 
secure such obligations and liabilities and to return as unpaid for 
insufficient funds any and all checks and other items drawn against any 
deposits so held as Bank, in its sole discretion, may elect.  Each Borrower 
hereby grants to Bank a security interest in all deposits and accounts 
maintained with Bank and with any other financial institution to secure the 
payment of all obligations and liabilities of Borrowers to Bank under the 
Loan Documents.

     SECTION 7.13.  BUSINESS PURPOSE.  Each Borrower represents and warrants 
that the Credits are for a business, commercial, investment, agricultural or 
other similar purpose and not primarily for a personal, family or household 
use.

     SECTION 7.14. JOINT AND SEVERAL LIABILITY.

     (a)  Each Borrower has determined and represents to Bank that it is in 
its best interests and in pursuance of its legitimate business purposes to 
induce Bank to extend credit pursuant to this Agreement.  Each Borrower 
acknowledges and represents that its business is related to the business of 
the 
                                       


                                      -22-

<PAGE>

other Borrowers, the availability of the commitments provided herein benefits 
all Borrowers, and advances and other credit extensions made hereunder will 
inure to the benefit of Borrowers, individually and as a group.

     (b)  Each Borrower has determined and represents to Bank that it has, 
and after giving effect to the transactions contemplated by this Agreement 
will have, assets having a fair saleable value in excess of its debts, after 
giving effect to any rights of contribution or subrogation that may be 
available to such Borrower, and each Borrower has, and will have, access to 
adequate capital for the conduct of its business and the ability to pay its 
debts as such debts mature.

     (c)  Each Borrower agrees that it is jointly and severally liable to 
Bank for, and each Borrower agrees to pay to Bank when due the full amount 
of, all indebtedness now existing or hereafter arising to Bank under or in 
connection with the,Credits and all modifications, extensions and renewals 
thereof, including without limitation all advances disbursed to any Borrower 
under the Credits, all interest which accrues thereon and all fees, costs and 
expenses chargeable to Borrowers or any of them in connection therewith.

     (d)  The liability of each Borrower for the Credits shall be reinstated 
and revived and the rights Of Bank shall continue if and to the extent that 
for any reason any amount at any time paid on account of any of the Credits 
is rescinded or must otherwise be restored by Bank, whether as a result of 
any proceedings in bankruptcy or reorganization or otherwise, all as though 
such amount had not been laid.

     (e)  Each Borrower authorizes Bank, and without affecting such 
Borrower's liability for the Credits, from time to time to: (i) alter, 
compromise, extend, accelerate or otherwise change the time for payment of, 
or otherwise change the terms of, the liabilities and obligations of any 
other Borrower to Bank on account of any of the Credits; (ii) take and hold 
security from any other Borrower for the payment of any of the Credits, and 
exchange, enforce, waive, subordinate or release any such security; (iii) 
apply such security and direct the order or manner of sale thereof, including 
without limitation, a non-judicial sale permitted by the terms of the 
controlling security agreement or deed of trust, as Bank in its discretion 
may determine; (iv) release or substitute any one or more of the endorsers or 
any guarantors of any of the Credits, or any other party obligated thereon; 
and (e) apply payments received by Bank from any other Borrower to 
indebtedness of such other Borrower to Bank other than the Credits.

     (f)  Each Borrower represents and warrants to Bank that it has 
established adequate means of obtaining from all other 
                                       


                                      -23-

<PAGE>

Borrowers on a continuing basis financial and other information pertaining to 
such Borrowers' financial condition, and each Borrower agrees to keep 
adequately informed from such means of any facts, events or circumstances 
which might in any way affect its risks hereunder.  Each Borrower further 
agrees that Bank shall have no obligation to disclose to it any information 
or material about any other Borrower that is acquired by Bank in any manner.

     (e)  Each Borrower waives any right to require Bank to: (i) proceed 
against any other Borrower or any other person; (ii) marshal assets or 
proceed against or exhaust any security held from any of the Borrowers or any 
other person; (iii) take any action or pursue any other remedy in Bank's 
power; or (iv) make any presentment or demand for performance, or give any 
notices of any kind, including without limitation, any notice of 
nonperformance, protest, notice of protest, notice of dishonor, notice of 
intention to accelerate or notice of acceleration hereunder or in connection 
with any obligations or evidences of Credits held by Bank as security for or 
which constitute in whole or in part the Credits guaranteed hereunder, or in 
connection with the creation of new or additional Credits.

     (f)  Each Borrower waives any defense to its obligations hereunder based 
upon or arising by reason of: (i) any disability or other defense of any of 
the Borrowers or any other person; (ii) the cessation or limitation from any 
cause whatsoever, other than payment in full, of the Credits of any of the 
Borrowers or any other person; (iii) any lack of authority of any officer, 
director, partner, agent or any other person acting or purporting to act on 
behalf of any of the Borrowers which is a trust, corporation, partnership or 
other type of entity, or any defect in the formation of any such Borrower; 
(iv) the application by any of the Borrowers of the proceeds of any Credits 
for purposes other than the purposes represented by Borrowers to, or intended 
or understood by, Bank or Borrower; (v) any act or omission by Bank which 
directly or indirectly results in or aids the discharge of any of the 
Borrowers or any portion of the Credits by operation of law or otherwise, or 
which in any way impairs or suspends any rights or remedies of Bank against 
any of the Borrowers; (vi) any impairment of the value of any interest in any 
security for the Credits or any portion thereof, including without 
limitation, the failure to obtain or maintain perfection or recordation of 
any interest in any such security, the release of any such security without 
substitution, and/or the failure to preserve the value of, or to comply with 
applicable law in disposing of, any such security; or (vii) any modification 
of the Credits, in any form whatsoever, including any modification made after 
revocation hereof to any Credits incurred prior to such revocation, and 
including without limitation the renewal, extension, acceleration or other 
change in time for payment of, or other change in the terms of, the Credits 
or any portion thereof, including increase or decrease of the rate of 
interest 
                                       


                                      -24-

<PAGE>

thereon.  Until all Credits shall have been paid in full, no Borrower shall 
have any right of subrogation, and each Borrower waives any right to enforce 
any remedy which Bank now has or may hereafter have against any of the 
Borrowers or any other person, and waives any benefit of, or any right to 
participate in, any security now or hereafter held by Bank.  Each Borrower 
further waives all rights and defenses such Borrower may have arising out of 
(A) any election of remedies by Bank, even though that election of remedies, 
such as a non-judicial foreclosure with respect to any security for any 
portion of the Credits, destroys its rights of subrogation or its rights to 
proceed against any other Borrower for reimbursement, or (B) any loss of 
rights Borrower may suffer by reason of any rights, powers or remedies of any 
of other Borrower in connection with any anti-deficiency laws or any other 
laws limiting, qualifying or discharging any Borrower's indebtedness, whether 
by operation of law or otherwise, including any rights Borrower may have to a 
fair market value hearing to determine the size of a deficiency following any 
trustee's foreclosure sale or other disposition of any real property security 
for any portion of the Credits.

     (g)  Each Borrower further waives (i) each and every right to which it 
may be entitled by virtue of any suretyship law, including without 
limitation, any rights arising pursuant to Rule 31 of the Texas Rules of 
Civil Procedure, Section 17.001 of the Texas Civil Practice and Remedies 
Code.and Chapter 34 of the Texas Business and Commerce Code, as the same may 
be amended from time to time, and (ii) without limiting any of the waivers 
set forth herein, any other fact or event that, in the absence of this 
provision, would or might constitute or afford a legal or equitable discharge 
or release of or defense to such Borrower.

     (h)  If any of the waivers herein is determined to be contrary to any 
applicable law or public policy, such waiver shall be effective only to the 
extent permitted by law.

     (i)  It is the position of the Borrowers that each Borrower benefits 
from the Credits that have been made available by Bank under this Agreement 
and from each extension of credit thereunder, regardless of whether such 
credit is disbursed to a joint account of Borrowers or to or for the account 
of any Borrower.

     SECTION 7.15.  ARBITRATION.

     (a)  ARBITRATION.  Upon the demand of any party, any Dispute shall be 
resolved by binding arbitration (except as set forth in (e) below) in 
accordance with the terms of this Agreement.  A "Dispute" shall mean any 
action, dispute, claim or controversy of any kind, whether in contract or 
tort, statutory or common law, legal or equitable, now existing or hereafter 
arising under or in connection with, or in any way pertaining to, any of the 
Loan Documents, or any past, present or future extensions of credit and other 
activities, transactions or obligations of any kind 
                                       


                                      -25-

<PAGE>

related directly or indirectly to any of the Loan Documents, including 
without limitation, any of the foregoing arising in connection with the 
exercise of any self-help, ancillary or other remedies pursuant to any of the 
Loan Documents.  Any party may by summary proceedings bring an action in 
court to compel arbitration of a Dispute.  Any party who fails or refuses to 
submit to arbitration following a lawful demand by any other party shall bear 
all costs and expenses incurred by such other party in compelling arbitration 
of any Dispute.

     (b)  GOVERNING RULES.  Arbitration proceedings shall be administered by 
the American Arbitration Association ("AAA") or such other administrator as 
the parties shall mutually agree upon in accordance with the AAA Commercial 
Arbitration Rules.  All Disputes submitted to arbitration shall be resolved 
in accordance with the Federal Arbitration Act (Title 9 of the United States 
Code), notwithstanding any conflicting choice of law provision in any of the 
Loan Documents.  The arbitration shall be conducted at a location in Texas 
selected by the AAA or other administrator. If there is any inconsistency 
between the terms hereof and any such rules, the terms and procedures set 
forth herein shall control.  All statutes of limitation applicable to any 
Dispute shall apply to any arbitration proceeding.  All discovery activities 
shall be expressly limited to matters directly relevant to the Dispute being 
arbitrated.  Judgment upon any award rendered in an arbitration may be 
entered in any court having jurisdiction; provided however, that nothing 
contained herein shall be deemed to be a waiver by any party that is a bank 
of the protections afforded to it under 12 U.S.C. Section 91 or any similar 
applicable state law.

     (c)  NO WAIVER: PROVISIONAL REMEDIES, SELF-HELP AND FORECLOSURE.  No 
provision hereof shall limit the right of any party to exercise self-help 
remedies such as setoff, foreclosure against or sale of any real or personal 
property collateral or security, or to obtain provisional or ancillary 
remedies, including without limitation injunctive relief, sequestration, 
attachment, garnishment or the appointment of a receiver, from a court of 
competent jurisdiction before, after or during the pendency of any 
arbitration or other proceeding.  The exercise. of any such remedy shall not 
waive the right of any party to compel arbitration hereunder.

     (d)  ARBITRATOR QUALIFICATIONS AND POWERS; AWARDS. Arbitrators must be 
active members of the Texas State Bar with expertise in the substantive laws 
applicable to the subject matter of the Dispute.  Arbitrators are empowered 
to resolve Disputes by summary rulings in response to motions filed prior to 
the final arbitration hearing.  Arbitrators (i) shall resolve all Disputes in 
accordance with the substantive law of the state of Texas, (ii) may grant any 
remedy or relief that a court of the state of Texas could order or grant 
within the scope hereof and such ancillary relief as is necessary to make 
effective any award, and (iii) shall have the power to award recovery of all 
                                       


                                      -26-

<PAGE>

costs and fees, to impose sanctions and to take such other actions as they 
deem necessary to the same extent a judge could pursuant to the Federal Rules 
of Civil Procedure, the Texas Rules of Civil Procedure or other applicable 
law.  Any Dispute in which the amount in controversy is $5,000,000 or less 
shall be decided by a single arbitrator who shall not render an award of 
greater than $5, 000, 000 (including damages, costs, fees and expenses) By 
submission to a single arbitrator, each party expressly waives any right or 
claim to recover more than $5,000,000.  Any Dispute in which the amount in 
controversy exceeds $5,000,000 shall be decided by majority vote of a panel 
of three arbitrators; provided however, that all three arbitrators must 
actively participate in all hearings and deliberations.

     (e)  JUDICIAL REVIEW.  Notwithstanding anything herein to the contrary, 
in any arbitration in which the amount in controversy exceeds $25,000,000, 
the arbitrators shall be required to make specific, written findings of fact 
and conclusions of law.  In such arbitrations (i) the arbitrators shall not 
have the power to make any award which is not supported by substantial 
evidence or which is based on legal error, (ii) an award shall not be binding 
upon the parties unless the findings of fact are supported by substantial 
evidence and the conclusions of law are not erroneous under the substantive 
law of the state of Texas, and (iii) the parties shall have in addition to 
the grounds referred to in the Federal Arbitration Act for vacating, 
modifying or correcting an award the right to judicial review of (A)  whether 
the findings of fact rendered by the arbitrators are supported by substantial 
evidence, and (B) whether the conclusions of law are erroneous under the 
substantive law of the state of Texas.  Judgment confirming an award in such 
a proceeding may be entered only if a court determines the award is supported 
by substantial evidence and not based on legal error under the substantive 
law of the state of Texas.

     (f)  MISCELLANEOUS.  To the maximum extent practicable, the AAA, the 
arbitrators and the parties shall take all action required to conclude any 
arbitration proceeding within 180 days of the filing of the Dispute with the 
AAA.  No arbitrator or other party to an arbitration proceeding may disclose 
the existence, content or results thereof, except for disclosures of 
information by a party required in the ordinary course of its business, by 
applicable law or regulation, or to the extent necessary to exercise any 
judicial review rights set forth herein.  If more than one agreement for 
arbitration by or between the parties potentially applies to a Dispute, the 
arbitration provision most directly related to the Loan Documents or the 
subject matter of the Dispute shall control.  This arbitration provision 
shall survive termination, amendment or expiration of any of the Loan 
Documents or any relationship between the parties.

NOTICE:  THIS DOCUMENT AND ALL OTHER DOCUMENTS RELATING TO THE INDEBTEDNESS 
CONSTITUTE A WRITTEN LOAN AGREEMENT WHICH REPRESENTS 
                                       


                                      -27-

<PAGE>

THE FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE CONTRADICTED BY 
EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS OF THE 
PARTIES.  THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES RELATING 
TO THE INDEBTEDNESS.

     IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be 
executed as of the day and year first written above.

                              WELLS FARGO BANK (TEXAS),
                                NATIONAL ASSOCIATION
PRECEPT BUSINESS SERVICE,
  INC.

By: /s/ SCOTT B. WALKER 
   ----------------------- 

Title: SVP & CFO              By: /s/ BRENT BERTINO
      --------------------       ---------------------------

                              Title: AVP
                                    ------------------------


WINGTIP COURIERS, INC.        PRECEPT BUSINESS PRODUCTS, INC.

By: /s/ SCOTT B. WALKER       By: /s/ SCOTT B. WALKER
   -----------------------       ---------------------------

Title: SVP & CFO              Title: SVP & CFO
      --------------------          ------------------------


PRECEPT TRANSPORTATION        PRECEPT TRANSPORTATION
SERVICES OF TEXAS, INC.       SERVICES, L.L.C.

By: /s/ SCOTT B. WALKER       By: Precept Business
   -----------------------        Services, Inc., Member

Title: SVP & CFO
      --------------------          By: /s/ SCOTT B. WALKER
                                       ---------------------

                                    Title: SVP & CFO
                                          ------------------


RELAY COURIERS, INC.

By: /s/ SCOTT B. WALKER
   -----------------------

Title: SVP & CFO
      --------------------


                                     -28-