EXHIBIT 10.22


                  THE REGISTERED HOLDER OF THIS WARRANT, BY ITS
                   ACCEPTANCE HEREOF, AGREES THAT IT WILL NOT
                      SELL, TRANSFER OR ASSIGN THIS WARRANT
                           EXCEPT AS HEREIN PROVIDED.

               VOID AFTER 5:00 P.M. EASTERN TIME, AUGUST 10, 2003

                                     WARRANT

                               For the Purchase of

                         250,000 Shares of Common Stock

                                       of

                         INDIVIDUAL INVESTOR GROUP, INC.


1.   Warrant.

     THIS CERTIFIES THAT, in consideration of $10.00 and other good and valuable
consideration,  duly paid by or on  behalf  of  MAIL.COM,  Inc.  ("Holder"),  as
registered  owner  of  this  Warrant,   to  Individual   Investor  Group,   Inc.
("Company"), Holder is entitled, at or before 5:00 p.m., Eastern Time August 10,
2003  ("Expiration  Date"),  but not thereafter,  to subscribe for, purchase and
receive,  in whole or in part,  up to TWO HUNDRED AND FIFTY  THOUSAND  (250,000)
shares of Common Stock of the Company ("Common  Stock").  If the Expiration Date
is a day on which banking institutions are authorized by law to close, then this
Warrant  may be  exercised  at or  before  5:00  p.m.  Eastern  Time on the next
succeeding  day which is not such a day in  accordance  with the  terms  herein.
During the period ending on the Expiration  Date, the Company agrees not to take
any  action  that  would  terminate  the  Warrant.  This  Warrant  is  initially
exercisable  at TWO  DOLLARS  ($2.00)  per  share  of  Common  Stock  purchased;
provided,  however,  that upon the occurrence of any of the events  specified in
Section 5 hereof,  the rights  granted by this  Warrant,  including the exercise
price  and the  number  of  shares  of  Common  Stock to be  received  upon such
exercise,  shall be adjusted as therein  specified.  The term  "Exercise  Price"
shall mean the initial exercise price or the adjusted exercise price,  depending
on the context, of a share of Common Stock. The term "Securities" shall mean the
shares of Common Stock issuable upon exercise of this Warrant.

2.   Exercise.

     2.1 Exercise  Form. In order to exercise  this  Warrant,  the exercise form
attached  hereto  must be duly  executed  and  completed  and  delivered  to the
Company,  together  with this Warrant and payment of the Exercise  Price for the
Securities being purchased.  If the subscription rights represented hereby shall
not be exercised at or before 5:00 p.m.,  Eastern Time, on the Expiration  Date,
this Warrant shall become and be void without  further force or effect,  and all
rights represented hereby shall cease and expire.

     2.2 Legend.  Each  certificate for Securities  purchased under this Warrant
shall bear a legend as follows,  unless  such  Securities  have been  registered
under the Securities Act of 1933, as amended ("Act"):

<PAGE>

          "The  securities   represented  by  this  certificate  have  not  been
          registered  under the  Securities  Act of 1933, as amended  ("Act") or
          applicable state law. The securities may not be offered for sale, sold
          or otherwise transferred except pursuant to an effective  registration
          statement under the Act, or pursuant to an exemption from registration
          under the Act and applicable state law."

2.3  Conversion Right.

          2.3.1  Determination of Amount. In lieu of the payment of the Exercise
     Price in cash, the Holder shall have the right (but not the  obligation) to
     convert this Warrant,  in whole or in part, into Common Stock  ("Conversion
     Right"),  as follows:  upon exercise of the Conversion  Right,  the Company
     shall  deliver to the Holder  (without  payment by the Holder of any of the
     Exercise Price) that number of shares of Common Stock equal to the quotient
     obtained by dividing  (x) the "Value" (as defined  below) of the portion of
     the Warrant being  converted at the time the Conversion  Right is exercised
     by (y) the Market  Price.  The "Value" of the portion of the Warrant  being
     converted  shall  equal the  remainder  derived  from  subtracting  (a) the
     Exercise  Price  multiplied  by the number of shares of Common  Stock being
     converted  from (b) the Market Price of the Common Stock  multiplied by the
     number of shares of Common Stock being converted.  As used herein, the term
     "Market  Price" at any date  shall be deemed to be the last  reported  sale
     price of the Common Stock on such date,  or, in case no such  reported sale
     takes place on such day, the average of the last  reported  sale prices for
     the immediately  preceding three trading days, in either case as officially
     reported by the principal  securities exchange on which the Common Stock is
     listed or  admitted to  trading,  or, if the Common  Stock is not listed or
     admitted  to trading on any  national  securities  exchange  or if any such
     exchange on which the Common Stock is listed is not its  principal  trading
     market,  the  last  reported  sale  price  as  furnished  by  the  National
     Association  of  Securities  Dealers,  Inc.  ("NASD")  through  the  Nasdaq
     National  Market or SmallCap  Market,  or, if applicable,  the OTC Bulletin
     Board,  or if the Common  Stock is not listed or admitted to trading on any
     of the foregoing markets,  or similar  organization,  as determined in good
     faith by resolution of the Board of Directors of the Company,  based on the
     best information available to it.

          2.3.2  Exercise  of  Conversion  Right.  The  Conversion  Right may be
     exercised  by the  Holder on any  business  day on or after the  Warrant is
     exercisable  and not  later  than the  Expiration  Date by  delivering  the
     Warrant  with a duly  executed  exercise  form  attached  hereto  with  the
     conversion  section  completed to the Company,  exercising  the  Conversion
     Right and  specifying the total number of shares of Common Stock the Holder
     will purchase pursuant to such conversion.

3.   Transfer.

     3.1 General  Restrictions.  The registered  Holder of this Warrant,  by its
acceptance  hereof,  agrees  that  it will  not  sell,  transfer  or  assign  or
hypothecate  this Warrant to anyone except upon compliance  with, or pursuant to
exemptions  from,  applicable  securities  laws.  In order to make any permitted
assignment,  the Holder must deliver to the Company the assignment form attached
hereto duly  executed and  completed,  together with this Warrant and payment of
all transfer taxes, if any, payable in connection therewith. Upon receipt of the
foregoing and  satisfaction  of the  requirements  set forth in Section 3.2, the
Company shall immediately  transfer this Warrant on the books of the Company and
shall  execute  and  deliver a new  Warrant  or  Warrants  of like  tenor to the
appropriate assignee(s) expressly evidencing the right to purchase the aggregate
number of shares of Common Stock  purchasable  hereunder or such portion of such
number as shall be contemplated by any such assignment.

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<PAGE>

     3.2  Restrictions  Imposed by the  Securities  Act.  This  Warrant  and the
Securities underlying this Warrant shall not be transferred unless and until (i)
the  Company  has  received  the  opinion  of counsel  for the Holder  that such
securities may be sold pursuant to an exemption from registration under the Act,
and  applicable  state law,  the  availability  of which is  established  to the
reasonable  satisfaction  of  the  Company,  or  (ii) a  registration  statement
relating to such Securities has been filed by the Company and declared effective
by the Securities and Exchange  Commission and compliance with applicable  state
law.

4.   New Warrants to be Issued.

     4.1 Partial Exercise or Transfer.  Subject to the restrictions in Section 3
hereof,  this Warrant may be  exercised or assigned in whole or in part.  In the
event of the exercise or assignment  hereof in part only, upon surrender of this
Warrant for cancellation, together with the duly executed exercise or assignment
form and funds (or conversion  equivalent)  sufficient to pay any Exercise Price
and/or transfer tax, the Company shall, subject to the restrictions in Section 3
hereof, cause to be delivered to the Holder without charge a new Warrant of like
tenor to this  Warrant  in the name of the  Holder  evidencing  the right of the
Holder to purchase the  aggregate  number of shares of Common Stock and Warrants
purchasable  hereunder  as to  which  this  Warrant  has not been  exercised  or
assigned.

     4.2 Lost Certificate.  Upon receipt by the Company of evidence satisfactory
to it of the loss,  theft,  destruction  or  mutilation  of this  Warrant and of
reasonably satisfactory indemnification, the Company shall execute and deliver a
new Warrant of like tenor and date. Any such new Warrant  executed and delivered
as a result of such loss,  theft,  mutilation or destruction  shall constitute a
substitute contractual obligation on the part of the Company.

5.   Adjustments

     5.1  Adjustments to Exercise  Price and Number of Securities.  The Exercise
Price and the number of shares of Common Stock  underlying this Warrant shall be
subject to adjustment from time to time as hereinafter set forth:

          5.1.1 Stock Dividends - Recapitalization, Reclassification, Split-Ups.
     If, after the date  hereof,  and subject to the  provisions  of Section 5.2
     below,  the number of outstanding  shares of Common Stock is increased by a
     stock  dividend on the Common Stock payable in shares of Common Stock or by
     a split-up,  recapitalization or reclassification of shares of Common Stock
     or other similar event, then, on the effective date thereof,  the number of
     shares of Common  Stock  issuable  on  exercise  of this  Warrant  shall be
     increased in proportion to such increase in outstanding shares.

          5.1.2 Aggregation of Shares. If after the date hereof,  and subject to
     the provisions of Section 5.2, the number of  outstanding  shares of Common
     Stock is decreased by a consolidation,  combination or  reclassification of
     shares of Common Stock or other  similar  event,  then,  upon the effective
     date thereof,  the number of shares of Common Stock issuable on exercise of
     this  Warrant  shall  be  decreased  in  proportion  to  such  decrease  in
     outstanding shares.

          5.1.3 Adjustments in Exercise Price.  Whenever the number of shares of
     Common Stock purchasable upon the exercise of this Warrant is adjusted,  as
     provided in this Section 5.1, the Exercise  Price shall be adjusted (to the
     nearest cent) by multiplying such Exercise Price  immediately prior to such
     adjustment  by a fraction (x) the numerator of which shall be the number of
     shares  of Common  Stock  purchasable  upon the  exercise  of this  Warrant
     immediately  prior to such  adjustment,  and (y) the  denominator  of which
     shall be the number of shares of Common  Stock so  purchasable  immediately
     thereafter.

                                       3

<PAGE>

          5.1.4 Replacement of Securities upon  Reorganization,  etc. In case of
     any  reclassification or reorganization of the outstanding shares of Common
     Stock other than a change  covered by Section  5.1.1 hereof or which solely
     affects the par value of such shares of Common Stock, or in the case of any
     merger or  consolidation  of the Company with or into  another  corporation
     (other  than  a  consolidation  or  merger  in  which  the  Company  is the
     continuing corporation and which does not result in any reclassification or
     reorganization  of the outstanding  shares of Common Stock), or in the case
     of any sale or conveyance to another  corporation or entity of the property
     of the Company as an entirety or substantially as an entirety in connection
     with which the Company is dissolved,  the Holder of this Warrant shall have
     the right thereafter (until the expiration of the right of exercise of this
     Warrant)  to  receive  upon the  exercise  hereof,  for the same  aggregate
     Exercise Price payable hereunder  immediately prior to such event, the kind
     and amount of shares of stock or other  securities  or property  (including
     cash)  receivable  upon such  reclassification,  reorganization,  merger or
     consolidation,  or upon a  dissolution  following  any  such  sale or other
     transfer,  by a Holder of the  number  of  shares  of  Common  Stock of the
     Company obtainable upon exercise of this Warrant  immediately prior to such
     event;  and if any  reclassification  also results in a change in shares of
     Common Stock covered by Sections 5.1.1 or 5.1.2, then such adjustment shall
     be made pursuant to Sections  5.1.1,  5.1.2,  5.1.3 and this Section 5.1.4.
     The  provisions of this Section 5.1.4 shall  similarly  apply to successive
     reclassifications,  reorganizations,  mergers or  consolidations,  sales or
     other transfers.

          5.1.5  Changes in Form of  Warrant.  This form of Warrant  need not be
     changed because of any change pursuant to this Section, and Warrants issued
     after such change may state the same Exercise  Price and the same number of
     shares of Common Stock and Warrants as are stated in the Warrants initially
     issued  pursuant to this  Agreement.  The  acceptance  by any Holder of the
     issuance of new Warrants  reflecting a required or permissive  change shall
     not be deemed to waive any rights to a prior  adjustment or the computation
     thereof.

     5.2 Elimination of Fractional Interests.  The Company shall not be required
to issue certificates  representing fractions of shares of Common Stock upon the
exercise of this Warrant, nor shall it be required to issue scrip or pay cash in
lieu of any  fractional  interests,  it being the intent of the parties that all
fractional  interests  shall be  eliminated  by rounding  any fraction up to the
nearest whole number of shares of Common Stock or other  securities,  properties
or rights.

6.  Reservation  and Listing.  The Company  shall at all times  reserve and keep
available out of its authorized  shares of Common Stock,  solely for the purpose
of issuance upon exercise of this Warrant, such number of shares of Common Stock
or other securities, properties or rights as shall be issuable upon the exercise
thereof.  The Company  covenants and agrees that,  upon exercise of the Warrants
and payment of the Exercise Price therefor, all shares of Common Stock and other
securities  issuable upon such exercise shall be duly and validly issued,  fully
paid and non-assessable and not subject to preemptive rights of any stockholder.
As long as the Warrants  shall be  outstanding,  the Company  shall use its best
efforts  to cause all  shares of Common  Stock  issuable  upon  exercise  of the
Warrants to be listed (subject to official notice of issuance) on all securities
exchanges (or, if applicable on Nasdaq) on which the Common Stock is then listed
and/or quoted.

                                       4
<PAGE>

7. Certain Notice Requirements.

     7.1 Holder's Right to Receive Notice.  Nothing herein shall be construed as
conferring upon the Holders the right to vote or consent or to receive notice as
a stockholder  for the election of directors or any other  matter,  or as having
any rights whatsoever as a stockholder of the Company.  If, however, at any time
prior to the  expiration of the Warrants and their  exercise,  any of the events
described in Section 7.2 shall occur,  then, in one or more of said events,  the
Company  shall give written  notice of such event at least fifteen days prior to
the date fixed as a record  date or the date of closing the  transfer  books for
the determination of the stockholders  entitled to such dividend,  distribution,
conversion or exchange of securities or subscription rights, or entitled to vote
on such proposed dissolution, liquidation, winding up or sale. Such notice shall
specify  such record date or the date of the closing of the transfer  books,  as
the case may be.

     7.2 Events  Requiring  Notice.  The  Company  shall be required to give the
notice described in this Section 7 upon one or more of the following events: (i)
if the Company  shall take a record of the holders of its shares of Common Stock
for the purpose of entitling them to receive a dividend or distribution, or (ii)
the Company  shall offer to all the holders of its Common  Stock any  additional
shares  of  capital  stock of the  Company  or  securities  convertible  into or
exchangeable for shares of capital stock of the Company, or any option, right or
warrant to subscribe therefor,  or (iii) a merger or reorganization in which the
Company  is not the  surviving  party,  or (iv) a  dissolution,  liquidation  or
winding up of the Company  (other than in  connection  with a  consolidation  or
merger)  or a sale  of all or  substantially  all of its  property,  assets  and
business shall be proposed.

     7.3 Notice of Change in Exercise Price.  The Company shall,  promptly after
an event  requiring a change in the Exercise Price pursuant to Section 5 hereof,
send notice to the Holders of such event and change ("Price Notice").  The Price
Notice shall describe the event causing the change and the method of calculating
same and  shall  be  certified  as being  true  and  accurate  by the  Company's
President and Chief Financial Officer.

     7.4  Transmittal  of Notices.  All  notices,  requests,  consents and other
communications  under this  Warrant  shall be in writing  and shall be deemed to
have been duly made on the date of delivery if delivered  personally  or sent by
overnight courier,  with  acknowledgment of receipt by the party to which notice
is  given,  or on the fifth  day  after  mailing  if mailed to the party to whom
notice  is  to be  given,  by  registered  or  certified  mail,  return  receipt
requested,  postage  prepaid and properly  addressed  as follows:  (i) if to the
registered Holder of this Warrant, to the address of such Holder as shown on the
books of the Company,  or (ii) if to the  Company,  to its  principal  executive
office.

8.   Miscellaneous.

     8.1  Headings.  The headings  contained  herein are for the sole purpose of
convenience  of reference,  and shall not in any way limit or affect the meaning
or interpretation of any of the terms or provisions of this Warrant.

     8.2 Entire Agreement.  This Warrant (together with the other agreements and
documents  being  delivered  pursuant  to or in  connection  with this  Warrant)
constitutes  the entire  agreement  of the parties  hereto  with  respect to the
subject matter hereof, and supersedes all prior agreements and understandings of
the parties, oral and written, with respect to the subject matter hereof.

     8.3 Binding  Effect.  This Warrant shall inure solely to the benefit of and
shall  be  binding  upon,  the  Holder  and the  Company  and  their  respective
successors, legal representatives and assigns, and no other person shall have or
be construed to have any legal or equitable  right,  remedy or claim under or in
respect of or by virtue of this Warrant or any provisions herein contained.

                                       5
<PAGE>


     8.4  Governing  Law;  Submission  to  Jurisdiction.  This Warrant  shall be
governed by and construed  and enforced in accordance  with the law of the State
of New York,  without  giving  effect to conflict of laws.  The Company and each
Holder  hereby  agree that any action,  proceeding  or claim  against such party
arising out of, or relating in any way to this Warrant (a "Proceeding") shall be
brought and enforced in the courts of the State of New York,  County of New York
or the United States  District Court for the Southern  District of New York, and
irrevocably submits to such jurisdiction, which jurisdiction shall be exclusive.
Each party hereby  waives any objection to the  exclusive  jurisdiction  of such
courts over a  Proceeding,  whether based on grounds of venue,  or  inconvenient
forum or  otherwise.  Each party agrees that any process or summons to be served
upon a party in connection  with a Proceeding  may be served by  transmitting  a
copy thereof by registered or certified mail, return receipt requested,  postage
prepaid, addressed to the party at the address set forth in Section 7 hereof, as
well as in any other  manner  permitted  by law.  Such  mailing  shall be deemed
personal  service  and  shall  be  legal  and  binding  upon  the  party  in the
Proceeding.  Each party agrees that the  prevailing  party(ies)  in a Proceeding
shall be entitled to recover  from the other  party(ies)  all of its  reasonable
attorneys'  fees and expenses  relating to such  Proceeding  and/or  incurred in
connection with the preparation therefor.

     8.5  Waiver,  Etc.  The failure of the Company or the Holder to at any time
enforce any of the  provisions  of this Warrant shall not be deemed or construed
to be a waiver of any such  provision,  nor to in any way affect the validity of
this Warrant or any  provision  hereof or the right of the Company or any Holder
to thereafter enforce each and every provision of this Warrant. No waiver of any
breach,  non-compliance  or  non-fulfillment  of any of the  provisions  of this
Warrant shall be effective unless set forth in a written instrument  executed by
the party or parties against whom or which enforcement of such waiver is sought;
and no waiver of any such breach,  non-compliance  or  non-fulfillment  shall be
construed  or  deemed  to  be a  waiver  of  any  other  or  subsequent  breach,
non-compliance or non-fulfillment.

     8.6  Amendments  in  Writing.  This  Warrant may not be amended or modified
except by means of a written  instrument  signed by the  Company and each Holder
affected thereby.

     IN WITNESS WHEREOF, the Company has caused this Warrant to be signed by its
duly authorized officer as of the 10th day of August, 2000.


                                     INDIVIDUAL INVESTOR GROUP, INC.

                                     By:/s/
                                        __________________________________
                                        Name:
                                        Title:

                                       6
<PAGE>


Form to be used to exercise Warrant:

___________________________________
___________________________________
___________________________________



Date:  _____________________, _____

     The  undersigned  hereby elects  irrevocably to exercise the within Warrant
and to purchase ________ shares of Common Stock of _________________________ and
hereby makes payment of  $____________  (at the rate of $_________  per share of
Common Stock) in payment of the Exercise  Price pursuant  thereto.  Please issue
the Common Stock as to which this Warrant is  exercised in  accordance  with the
instructions given below.

                                       or

     The undersigned  hereby elects irrevocably to convert its right to purchase
____________  shares of Common Stock  purchasable  under the within Warrant into
__________ shares of Common Stock of  __________________________________________
(based on a "Market Price" of $________ per share of Common Stock). Please issue
the Common Stock in accordance with the instructions given below.


                                    --------------------------------------
                                    Signature


---------------------------
Signature Guaranteed

     NOTICE: The signature to this form must correspond with the name as written
upon the face of the within Warrant in every  particular  without  alteration or
enlargement or any change  whatsoever,  and must be guaranteed by a bank,  other
than a savings bank,  or by a trust company or by a firm having  membership on a
registered national securities exchange.

                   INSTRUCTIONS FOR REGISTRATION OF SECURITIES


Name     ________________________________________________________
                            (Print in Block Letters)


Address  ________________________________________________________

                                       7
<PAGE>


Form to be used to assign Warrant:

                                   ASSIGNMENT


     (To be executed by the registered Holder to effect a transfer of the within
Warrant):

     FOR VALUE  RECEIVED,  ________________________________  does  hereby  sell,
assign and transfer unto _________________________________ the right to purchase
_____________________        shares       of        Common        Stock       of
_________________________________  ("Company")  evidenced by the within  Warrant
and does hereby authorize the Company to transfer such right on the books of the
Company.


Dated:____________________, _____



                                    --------------------------------------
                                    Signature






     NOTICE: The signature to this form must correspond with the name as written
upon the face of the within Warrant in every  particular  without  alteration or
enlargement or any change  whatsoever,  and must be guaranteed by a bank,  other
than a savings bank,  or by a trust company or by a firm having  membership on a
registered national securities exchange.



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