EXHIBIT 10.4

                        SAVVIS COMMUNICATIONS CORPORATION
                          EMPLOYEE STOCK PURCHASE PLAN

         The Board of Directors of SAVVIS Communications Corporation (the
"Company") has adopted this Employee Stock Purchase Plan (the "Plan") to enable
eligible employees of the Company and its participating Affiliates (as defined
below), through payroll deductions, to purchase shares of the Company's common
stock, par value $0.01 per share (the " Common Stock"). The Plan is for the
benefit of the employees of SAVVIS Communications Corporation and any
participating Affiliates. The Plan is intended to benefit the Company by
increasing the employees' interest in the Company's growth and success and
encouraging employees to remain in the employ of the Company or its
participating Affiliates. The provisions of the Plan are set forth below.

1.       SHARES SUBJECT TO THE PLAN.

         Subject to adjustment as provided in Section 25 below, the aggregate
number of shares of Common Stock that may be made available for purchase by
participating employees under the Plan is 6,000,000. The shares issuable under
the Plan may, in the discretion of the Board of Directors of the Company (the
"Board"), be authorized but unissued shares, treasury shares or issued and
outstanding shares that are purchased in the open market.

2.       ADMINISTRATION.

         The Plan shall be administered under the direction of the Compensation
Committee of the Board (the "Committee"). No member of the Board or the
Committee shall be liable for any action or determination made in good faith
with respect to the Plan.

3.       INTERPRETATION.

         It is intended that the Plan will meet the requirements for an
"Employee Stock Purchase Plan" under Section 423 of the Internal Revenue Code of
1986 (the "Code"), and it is to be so applied and interpreted. Subject to the
express provisions of the Plan, the Committee shall have authority to interpret
the Plan, to prescribe, amend and rescind rules relating to it, and to make all
other determinations necessary or advisable in administering the Plan, all of
which determinations will be final and binding upon all persons.



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4.       ELIGIBLE EMPLOYEES.

         Any employee of the Company or any of its participating Affiliates may
participate in the Plan, except the following, who are ineligible to
participate: (a) an employee who has been employed by the Company or any of its
participating Affiliates for less than three months as of the beginning of a
Withholding Period (as defined in Section 7 below); (b) an employee whose
customary employment is for less than five months in any calendar year; (c) an
employee whose customary employment is 20 hours or less per week; and (d) an
employee who, after exercising his or her rights to purchase shares under the
Plan, would own shares of Common Stock (including shares that may be acquired
under any outstanding options) representing five percent or more of the total
combined voting power of all classes of stock of the Company. The term
"participating Affiliate" means any company or other trade or business that is a
subsidiary of the Company (determined in accordance with the principles of
Sections 424(e) and (f) of the Code and the regulations thereunder). The Board
may at any time in its sole discretion, if it deems it advisable to do so,
terminate the participation of the employees of a particular participating
Affiliate.

5.       PARTICIPATION IN THE PLAN.

         An eligible employee may become a participating employee in the Plan by
completing an election to participate in the Plan on a form provided by the
Company and submitting that form to the Payroll Department of the Company. The
form will authorize payroll deductions (as provided in Section 6 below) and
authorize the purchase of shares of Common Stock for the employee's account in
accordance with the terms of the Plan. Enrollment will become effective upon the
first day of the first Withholding Period.

6.       PAYROLL DEDUCTIONS.

         At the time an eligible employee submits his or her election to
participate in the Plan (as provided in Section 5 above), the employee shall
elect to have deductions (not to exceed 10% of his or her pay) made from his or
her pay, on each pay day following his or her enrollment in the Plan, and for as
long as he or she shall participate in the Plan. The deductions will be credited
to the participating employee's account under the Plan. An employee may not
during any Withholding Period change his or her percentage of payroll deduction
for that Withholding Period, nor may an employee withdraw any contributed funds,
other than in accordance with Sections 15 through 19 below.



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7.       WITHHOLDING PERIODS.

         The payroll deductions periods shall be determined by the Committee.
The initial Withholding Period shall commence on the date determined by the
Committee or the Board.

8.       RIGHTS TO PURCHASE COMMON STOCK; PURCHASE PRICE.

         Rights to purchase shares of Common Stock will be deemed granted to
participating employees as of the first trading day of each Withholding Period.
The purchase price of each share of Common Stock (the "Purchase Price") shall be
the lesser of 85 percent of the fair market value of the Common Stock (a) on the
first trading day of the Withholding Period or (b) on the last trading day of
such Withholding Period, unless the Purchase Price is otherwise established by
the Committee; provided that in no event shall the Purchase Price be less than
the amount determined pursuant to subparagraphs (a) and (b) above or the par
value of the Common Stock. For purposes of the Plan, "fair market value" means
the value of each share of Common Stock subject to the Plan determined as
follows: if on the determination date the shares of Common Stock are listed on
an established national or regional stock exchange, are admitted to quotation on
The Nasdaq Stock Market, or are publicly traded on an established securities
market, the fair market value of the shares of Common Stock shall be the closing
price of the shares of Common Stock on such exchange or in such market (the
highest such closing price if there is more than one such exchange or market) on
such date (or if there is no such reported closing price, the fair market value
shall be the mean between the highest bid and lowest asked prices or between the
high and low sale prices on such trading day) or, if no sale of the shares of
Common Stock is reported for such trading day, on the day on which any sale
shall have been reported. If the shares of Common Stock are not listed on such
an exchange, quoted on such System or traded on such a market, fair market value
shall be determined by the Board in good faith.

9.       TIMING OF PURCHASE; PURCHASE LIMITATION.

         Unless a participating employee has given prior written notice
terminating such employee's participation in the Plan, or the employee's
participation in the Plan has otherwise been terminated as provided in Sections
15 through 19 below, such employee will be deemed to have exercised
automatically his or her right to purchase Common Stock on the last trading day
of the Withholding Period (except as provided in Section 15 below) for the
number of shares of Common Stock which the accumulated funds in the employee's
account at that time will purchase at the Purchase Price, subject to the
participation adjustment provided for in Section 14 below and subject to
adjustment under Section 25 below.

         Notwithstanding any other provision of the Plan, no employee may
purchase in any one calendar year under the Plan and all other "employee stock
purchase plans" of the Company and its participating Affiliates shares of Common



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Stock having an aggregate fair market value in excess of $25,000, determined as
of the first trading date of the Withholding Period as to shares purchased
during such Period. In addition, prior to the start of a Withholding Period the
Committee may impose a limit on the number of shares or the value of shares that
an employee may purchase in the Withholding Period. Effective upon the last
trading day of the Withholding Period, a participating employee will become a
stockholder with respect to the shares purchased during such period, and will
thereupon have all dividend, voting and other ownership rights incident thereto.
Notwithstanding the foregoing, no shares shall be sold pursuant to the Plan
unless the Plan is approved by the Company's stockholders in accordance with
Section 24 below.

10.      ISSUANCE OF STOCK CERTIFICATES.

         As of the last trading day of the Withholding Period, a participating
employee will be credited with the number of shares of Common Stock purchased
for his or her account under the Plan during such Withholding Period. Shares
purchased under the Plan will be held in the custody of an agent (the "Agent")
appointed by the Committee. The Agent may hold the shares purchased under the
Plan in stock certificates in nominee names and may commingle shares held in its
custody in a single account or stock certificate without identification as to
individual participating employees. A participating employee may, at any time
following two years from the first day of the Withholding Period as to which the
purchase was made, by written notice instruct the Agent to have all or part of
such shares reissued in the participating employee's own name and have the stock
certificate delivered to the employee.

11.      WITHHOLDING OF TAXES.

         To the extent that a participating employee realizes ordinary income in
connection with a sale or other transfer of any shares of Common Stock purchased
under the Plan, the Company may withhold amounts needed to cover such taxes from
any payments otherwise due and owing to the participating employee or from
shares that would otherwise be issued to the participating employee hereunder.
Any participating employee who sells or otherwise transfers shares purchased
under the Plan within two years after the beginning of the Withholding Period in
which the shares were purchased must within 30 days of such transfer notify the
Payroll Department of the Company in writing of such transfer.

12.      ACCOUNT STATEMENTS.

         The Company will cause the Agent to deliver to each participating
employee a statement for each Withholding Period during which the employee
purchases Common Stock under the Plan, but no more frequently than quarterly,
reflecting the amount of payroll deductions during the Withholding Period, the



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number of shares purchased for the employee's account, the price per share of
the shares purchased for the employee's account and the number of shares held
for the employee's account at the end of the Withholding Period.

13.      PARTICIPATION ADJUSTMENT.

         If in any Withholding Period the number of unsold shares that may be
made available for purchase under the Plan pursuant to Section 1 above is
insufficient to permit exercise of all rights deemed exercised by all
participating employees pursuant to Section 9 above, a participation adjustment
will be made, and the number of shares purchasable by all participating
employees will be reduced proportionately. Any funds then remaining in a
participating employee's account after such exercise will be refunded to the
employee.

14.      CHANGES IN ELECTIONS TO PURCHASE.

         (a)   A participating employee may, at any time prior to the last day
               of the Withholding Period, by written notice to the Company,
               direct the Company to cease payroll deductions (or, if the
               payment for shares is being made through periodic cash payments,
               notify the Company that such payments will be terminated), in
               accordance with the following alternatives:

               (i)  the employee's option to purchase shall be reduced to the
                    number of shares which may be purchased, as of the last day
                    of the Withholding Period, with the amount then credited to
                    the employee's account; or

               (ii) withdraw the amount in such employee's account and terminate
                    such employee's option to purchase.

         (b)   Any participating employee may increase or decrease his or her
               payroll deduction or periodic cash payments, to take effect on
               the first day of the next Withholding Period, by delivering to
               the Company a new form regarding election to participate in the
               Plan under Section 5 above.

15.      TERMINATION OF EMPLOYMENT.

         In the event a participating employee voluntarily leaves the employ of
the Company or a participating Affiliate, otherwise than by retirement under a
plan of the Company or a participating Affiliate, or is terminated by the
Company prior to the last day of the Withholding Period, the amount in the
employee's account will be distributed and the employee's option to purchase
will terminate.



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16.      RETIREMENT.

         In the event a participating employee who has an option to purchase
shares leaves the employ of the Company or a participating Affiliate because of
retirement under a plan of the Company or a participating Affiliate, the
participating employee may elect, within 10 days after the date of such
retirement or termination, one of the following alternatives:

         (a)   to make up any deficiency in the employee's account resulting
               from the termination of payroll deductions by an immediate cash
               payment;

         (b)   the employee's option to purchase shall be reduced to the number
               of shares which may be purchased, as of the last day of the
               Withholding Period, with the amount then credited to the
               employee's account; or

         (c)   withdraw the amount in such employee's account and terminate such
               employee's option to purchase.

         In the event the participating employee does not make an election
within the aforesaid 10-day period, he or she will be deemed to have elected
subsection 16(c) above.

17.      LAY-OFF, AUTHORIZED LEAVE OR ABSENCE OR DISABILITY.

         Payroll deductions for shares for which a participating employee has an
option to purchase may be suspended during any period of absence of the employee
from work due to lay-off, authorized leave of absence or disability or, if the
employee so elects, periodic payments for such shares may continue to be made in
cash.

         If such employee returns to active service prior to the last day of the
Withholding Period, the employee's payroll deductions will be resumed and if
said employee did not make periodic cash payments during the employee's period
of absence, the employee shall, by written notice to the Company's Payroll
Department within 10 days after the employee's return to active service, but not
later than the last day of the Withholding Period, elect:

         (a)   to make up any deficiency in the employee's account resulting
               from a suspension of payroll deductions by an immediate cash
               payment;

         (b)   not to make up such deficiency, in which event the number of
               shares to be purchased by the employee shall be reduced to the
               number of whole shares which may be purchased with the amount, if
               any, then credited to the employee's account plus the aggregate
               amount, if any, of all payroll deductions to be made thereafter;
               or




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         (c)   withdraw the amount in the employee's account and terminate the
               employee's option to purchase.

         A participating employee on lay-off, authorized leave of absence or
disability on the last day of the Withholding Period shall deliver written
notice to his or her employer on or before the last day of the Withholding
Period, electing one of the alternatives provided in the foregoing clauses (a),
(b) and (c) of this Section 17. If any employee fails to deliver such written
notice within 10 days after the employee's return to active service or by the
last day of the Withholding Period, whichever is earlier, the employee shall be
deemed to have elected subsection 17(c) above.

         If the Period of a participating employee's lay-off, authorized leave
of absence or disability shall terminate on or before the last day of the
Withholding Period, and the employee shall not resume active employment with the
Company or a participating Affiliate, the employee shall receive a distribution
in accordance with the provisions of Section 16 of this Plan.

18.      DEATH.

         In the event of the death of a participating employee while the
employee's option to purchase shares is in effect, the legal representatives of
such employee may, within three months after the employee's death (but no later
than the last day of the Withholding Period) by written notice to the Company or
participating Affiliate, elect one of the following alternatives:

         (a)   to make up any deficiency in the employee's account resulting
               from a suspension of payroll deductions by an immediate cash
               payment;

         (b)   the employee's option to purchase shall be reduced to the number
               of shares which may be purchased, as of the last day of the
               Withholding Period, with the amount then credited to the
               employee's account; or

         (c)   withdraw the amount in such employee's account and terminate such
               employee's option to purchase.

         In the event the legal representatives of such employee fail to deliver
such written notice to the Company or participating Affiliate within the
prescribed period, the election to purchase shares shall terminate and the
amount, then credited to the employee's account shall be paid to such legal
representatives.

19.      TERMINATION OF PARTICIPATION.

         A participating employee will be refunded all moneys in his or her
account, and his or her participation in the Plan will be terminated if either




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(a) the Board elects to terminate the Plan as provided in Section 24 below, or
(b) the employee ceases to be eligible to participate in the Plan under Section
4 above. As soon as practicable following termination of an employee's
participation in the Plan, the Company will deliver to the employee a check
representing the amount in the employee's account and a stock certificate
representing the number of whole shares held in the employee's account. Once
terminated, participation may not be reinstated for the then current Withholding
Period, but, if otherwise eligible, the employee may elect to participate in any
subsequent Withholding Period.

20.      ASSIGNMENT.

         No participating employee may assign his or her rights to purchase
shares of Common Stock under the Plan, whether voluntarily, by operation of law
or otherwise. Any payment of cash or issuance of shares of Common Stock under
the Plan may be made only to the participating employee (or, in the event of the
employee's death, to the employee's estate). Once a stock certificate has been
issued to the employee or for his or her account, such certificate may be
assigned the same as any other stock certificate.

21.      APPLICATION OF FUNDS.

         All funds received or held by the Company under the Plan shall be
deposited with the Agent for the account of the participating employees.
Participating employees' accounts will not be segregated.

22.      NO RIGHT TO CONTINUED EMPLOYMENT.

         Neither the Plan nor any right to purchase Common Stock under the Plan
confers upon any employee any right to continued employment with the Company or
any of its participating Affiliates, nor will an employee's participation in the
Plan restrict or interfere in any way with the right of the Company or any of
its participating Affiliates to terminate the employee's employment at any time.

23.      AMENDMENT OF PLAN.

         The Board may, at any time, amend the Plan in any respect (including an
increase in the percentage specified in Section 9 above used in calculating the
Purchase Price); provided, however, that without approval of the stockholders of
the Company no amendment shall be made (a) increasing the number of shares
specified in Section 1 above that may be made available for purchase under the
Plan (except as provided in Section 25 below), (b) changing the eligibility
requirements for participating in the Plan, or (c) impairing the vested rights
of participating employees.




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24.      EFFECTIVE DATE; TERM AND TERMINATION OF THE PLAN.

         The Plan shall be effective as of the date of adoption by the Board,
which date is set forth below, subject to approval of the Plan by the
stockholders of the Company; provided, however, that upon approval of the Plan
by the stockholders of the Company as set forth above, all rights to purchase
shares granted under the Plan on or after the effective date shall be fully
effective as if the stockholders of the Company had approved the Plan on the
effective date. If the stockholders fail to approve the Plan on or before one
year after the effective date, the Plan shall terminate, any rights to purchase
shares granted hereunder shall be null and void and of no effect and all
contributed funds shall be refunded to participating employees. The Board may
terminate the Plan at any time and for any reason or for no reason, provided
that such termination shall not impair any rights of participating employees
that have vested at the time of termination. In any event, the Plan shall,
without further action of the Board, terminate ten (10) years after the date of
adoption of the Plan by the Board or, if earlier, at such time as all shares of
Common Stock that may be made available for purchase under the Plan pursuant to
Section 1 above have been issued.

25.      EFFECT OF CHANGES IN CAPITALIZATION.

         (a)   Changes in Stock. If the number of outstanding shares of Common
               Stock is increased or decreased or the shares of Common Stock are
               changed into or exchanged for a different number or kind of
               shares or other securities of the Company by reason of any
               recapitalization, reclassification, stock split, reverse split,
               combination of shares, exchange of shares, stock dividend, or
               other distribution payable in capital stock, or other increase or
               decrease in such shares effected without receipt of consideration
               by the Company occurring after the effective date of the Plan,
               the number and kinds of shares that may be purchased under the
               Plan shall be adjusted proportionately and accordingly by the
               Company. In addition, the number and kind of shares for which
               rights are outstanding shall be similarly adjusted so that the
               proportionate interest of a participating employee immediately
               following such event shall, to the extent practicable, be the
               same as immediately prior to such event. Any such adjustment in
               outstanding rights shall not change the aggregate Purchase Price
               payable by a participating employee with respect to shares
               subject to such rights, but shall include a corresponding
               proportionate adjustment in the Purchase Price per share.
               Notwithstanding the foregoing, in the event of a spin-off that
               results in no change in the number of outstanding shares of Stock
               of the Company, the Company may, in such manner as the Company
               deems appropriate, adjust the number and kind of shares that may
               be purchased under the Plan.




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         (b)   Reorganization in Which the Company Is the Surviving Corporation.
               Subject to Subsection (c) of this Section 25, if the Company
               shall be the surviving corporation in any reorganization, merger
               or consolidation of the Company with one or more other
               corporations, all outstanding rights under the Plan shall pertain
               to and apply to the securities to which a holder of the number of
               shares of Common Stock subject to such rights would have been
               entitled immediately following such reorganization, merger or
               consolidation, with a corresponding proportionate adjustment of
               the Purchase Price per share so that the aggregate Purchase Price
               thereafter shall be the same as the aggregate Purchase Price of
               the shares subject to such rights immediately prior to such
               reorganization, merger or consolidation.

         (c)   Reorganization in Which the Company Is Not the Surviving
               Corporation or Sale of Assets or Stock. Upon any dissolution or
               liquidation of the Company, or upon a merger, consolidation or
               reorganization of the Company with one or more other corporations
               in which the Company is not the surviving corporation, or upon a
               sale of all or substantially all of the assets of the Company to
               another corporation, or upon any transaction (including, without
               limitation, a merger or reorganization in which the Company is
               the surviving corporation) approved by the Board that results in
               any person or entity owning more than 80 percent of the combined
               voting power of all classes of stock of the Company, the Plan and
               all rights outstanding hereunder shall terminate, except to the
               extent provision is made in writing in connection with such
               transaction for the continuation of the Plan and/or the
               assumption of the rights theretofore granted, or for the
               substitution for such rights of new rights covering the stock of
               a successor corporation, or a parent or subsidiary thereof, with
               appropriate adjustments as to the number and kinds of shares and
               exercise prices, in which event the Plan and rights theretofore
               granted shall continue in the manner and under the terms so
               provided. In the event of any such termination of the Plan, the
               Withholding Period shall be deemed to have ended on the last
               trading day prior to such termination, and in accordance with
               Section 9 above the rights of each participating employee then
               outstanding shall be deemed to be automatically exercised on such
               last trading day. The Board shall send written notice of an event
               that will result in such a termination to all participating
               employees not later than the time at which the Company gives
               notice thereof to its stockholders.

         (d)   Adjustments. Adjustments under this Section 25 related to stock
               or securities of the Company shall be made by the Committee,
               whose determination in that respect shall be final, binding, and
               conclusive.



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         (e)   No Limitations on Company. The grant of a right pursuant to the
               Plan shall not affect or limit in any way the right or power of
               the Company to make adjustments, reclassifications,
               reorganizations or changes of its capital or business structure
               or to merge, consolidate, dissolve or liquidate, or to sell or
               transfer all or any part of its business or assets.

26.      GOVERNMENTAL REGULATION.

         The Company's obligation to issue, sell and deliver shares of Common
Stock pursuant to the Plan is subject to such approval of any governmental
authority and any national securities exchange or other market quotation system
as may be required in connection with the authorization, issuance or sale of
such shares.

27.      STOCKHOLDER RIGHTS.

         Any dividends paid on shares held by the Company for a participating
employee's account will be transmitted to the employee. The Company will deliver
to each participating employee who purchases shares of Common Stock under the
Plan, as promptly as practicable by mail or otherwise, all notices of meetings,
proxy statements, proxies and other materials distributed by the Company to its
stockholders. Any shares of Common Stock held by the Agent for an employee's
account will be voted in accordance with the employee's duly delivered and
signed proxy instructions. There will be no charge to participating employees in
connection with such notices, proxies and other materials.

28.      RULE 16B-3.

         Transactions under this Plan are intended to comply with all applicable
conditions of Rule 16b-3 or any successor provision under the Securities
Exchange Act of 1934, as amended. If any provision of the Plan or action by the
Board fails to so comply, it shall be deemed null and void to the extent
permitted by law and deemed advisable by the Board. Moreover, in the event the
Plan does not include a provision required by Rule 16b-3 to be stated herein,
such provision (other than one relating to eligibility requirements, or the
price and amount of awards) shall be deemed automatically to be incorporated by
reference into the Plan.

29.      PAYMENT OF PLAN EXPENSES.

         The Company will bear all costs of administering and carrying out the
Plan; provided however, participating employees shall bear all costs incurred
subsequent to the issuance of stock certificates pursuant to Section 10.