Document:

SECURITIES EXCHANGE AGREEMENT

         SECURITIES  EXCHANGE AGREEMENT ("this Agreement") dated as of August 4,
2000  by  and  between  GLOBAL  iTECHNOLOGY,   INC.  ,  a  Delaware  corporation
("Purchaser"),  and the  individuals  named on  Schedule  1.1  hereto  that have
executed this Agreement (the "Shareholders") being the shareholders of 1,775,000
shares of the capital stock of Certificate Express, Inc., a Delaware corporation
(the "Company").

                              W I T N E S S E T H:

         WHEREAS, the Shareholders own 1,775,000 of 1,825,000 outstanding shares
(the  "Company  Shares") of common  stock,  $.001 par value of the Company  (the
"Company Common Stock"); and

         WHEREAS,  the  Shareholders  wish  to sell  and  Purchaser  desires  to
purchase the Company Shares pursuant to this Agreement in exchange for shares of
the  common  stock  $0.01  par  value  ("Purchaser   Stock")  of  the  Purchaser
("Purchaser Shares"); and

         WHEREAS,  it  is  the  intention  of  the  parties  hereto  that,  upon
consummation  of the  purchase and sale of the Company  Shares  pursuant to this
Agreement  and the  transfer of 50,000  shares of Common  stock not owned by the
Shareholders, Purchaser shall own all of the outstanding shares of capital stock
of the Company;

         NOW, THEREFORE, IT IS AGREED:

                                    ARTICLE 1
                       REPRESENTATIONS OF THE SHAREHOLDERS

         The  Shareholders,   individually,  represent,  warrant  and  agree  as
follows:

         1.1  Ownership of Stock.  Such  Shareholder  is the lawful owner of the
number of shares of Company Shares listed opposite the name of such  Shareholder
in Schedule  1.1 hereto,  free and clear of all  preemptive  or similar  rights,
liens, encumbrances, restrictions and claims of every kind. Such Shareholder has
full legal right,  power and authority to enter into this Agreement and to sell,
assign,  transfer  and convey the  Company  Shares so owned by such  Shareholder
pursuant to this  Agreement and the delivery to Purchaser of the Company  Shares
by such  Shareholder  pursuant to the provisions of this Agreement will transfer
to Purchaser  valid title  thereto,  free and clear of all liens,  encumbrances,
restrictions  and  claims of every  kind.  Such  Shareholder  is a  resident  or
incorporated  under the laws of the state set forth opposite such  Shareholder's
name in Schedule 1.1.

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         1.2  Authority  to Execute  and  Perform  Agreement;  No  Breach.  Such
Shareholder  has the full legal right and power and all  authority  and approval
required to enter into, execute and deliver this Agreement, and to sell, assign,
transfer and convey the Company Shares owned by such  Shareholder and to perform
fully their  respective  obligations  hereunder.  This  Agreement  has been duly
executed and  delivered by such  Shareholder  and,  assuming due  execution  and
delivery by, and enforceability  against,  Purchaser,  constitutes the valid and
binding obligation of such Shareholder enforceable in accordance with its terms,
subject to the  qualifications  that  enforcement  of the  rights  and  remedies
created  hereby  is  subject  to  (i)  bankruptcy,  insolvency,  reorganization,
moratorium  and other  laws of  general  application  affecting  the  rights and
remedies of  creditors,  and (ii) general  principles of equity  (regardless  of
whether such  enforcement is considered in a proceeding in equity or at law). No
approval or consent of, or filing with, any governmental or regulatory body, and
no approval or consent of, or filing  with,  any other  person is required to be
obtained by such Shareholder or in connection with the execution and delivery by
such  Shareholder of this Agreement and  consummation and performance by them of
the transactions  contemplated  hereby, other than as set forth on Schedule 1.2.
The execution,  delivery and  performance of this Agreement by such  Shareholder
and the consummation of the transactions  contemplated hereby in accordance with
the terms and conditions hereof by such Shareholder will not:

         (a)      knowingly  violate,  conflict  with or result in the breach of
                  any of the material terms of, or constitute (or with notice or
                  lapse of time or both would  constitute)  a  material  default
                  under, any contract,  lease,  agreement or other instrument or
                  obligation  to which such  Shareholder  is a party or by or to
                  which any of the properties and assets of such Shareholder may
                  be bound or subject;

         (b)      violate any order,  judgment,  injunction,  award or decree of
                  any court,  arbitrator,  governmental  or regulatory  body, by
                  which  either  such  Shareholder  or the  securities,  assets,
                  properties or business of such Shareholder is bound; or

         (c)      knowingly violate any statute, law or regulation.

         1.3 Existence  and Good  Standing.  The Company is a  corporation  duly
organized,  validly existing and in good standing under the laws of the State of
Delaware.  The Company has the power to own or lease its  properties  and assets
and to carry  on its  business  as now  being  conducted.  The  Company  is duly
qualified to do business and is in good standing in Maryland,  which is the only
jurisdiction  in which the  character  or  location of the  properties  owned or
leased by the  Company or the nature of the  business  conducted  by the Company
makes such qualification  necessary.  However, the failure to be so qualified or
in good standing in any given  jurisdiction will not be deemed to be a breach of
this Section 1.3 unless the failure of the Company to be in good standing in any
such jurisdiction individually or in all such jurisdictions  collectively has or
is  likely  to  have  a  material  adverse  effect  on  the  Company  or on  the
transactions contemplated herein.

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         1.4  Capital  Stock.  The  Company  has  an  authorized  capitalization
consisting of 3,000,000  shares of Common Stock.  There are 1,875,000  shares of
Common Stock issued and outstanding.  All such outstanding shares have been duly
authorized  and validly issued and are fully paid and  nonassessable.  Except as
set forth as Schedule 1.4 attached  hereto,  there are no  outstanding  options,
warrants,  rights,  calls,  commitments,  conversion rights, rights of exchange,
plans  or  other  agreements,  commitments  or  arrangements  of  any  character
providing for the purchase, subscription,  issuance or sale of any shares of the
capital  stock of the  Company,  other  than the sale of the  Company  Shares as
contemplated by this Agreement.

         1.5 Financial  Statements  and No Material  Changes.  Annexed hereto as
Schedule 1.5 are the unaudited  consolidated  balance sheet of the Company as of
June 30, 2000 (the "Financial Statements").

         The Financial  Statements  were  carefully  prepared from the books and
records of the Company,  and although the Financial  Statements  are not audited
and do not contain the  footnotes  which would be required in audited  financial
statements, present fairly the financial position, assets and liabilities of the
Company and the results of its operations,  for the respective periods indicated
and reflect all necessary  accruals,  all in conformity with generally  accepted
accounting  principles  ("GAAP")  applied on a consistent  basis.  The Financial
Statements  contain  all  adjustments   (consisting  of  only  normal  recurring
accruals) required to be made by GAAP.

         Since June 30, 2000 (the  "Balance  Sheet  Date") there has been (a) no
material  adverse  change in the assets or  liabilities,  or in the  business or
condition, financial or otherwise, or in the results of operations or prospects,
of the Company  whether as a result of any  legislative  or  regulatory  change,
revocation of any license or rights to do business,  fire, explosion,  accident,
casualty, labor trouble, flood, drought, riot, storm, condemnation or act of God
or other  public force or otherwise  and (b) no material  adverse  change in the
assets or liabilities, or in the business or condition,  financial or otherwise,
or in the results of  operations  or  prospects,  of the Company and to the best
knowledge,  information  and belief of the  Shareholders,  no fact or  condition
exists or is contemplated  or threatened  which might cause such a change in the
future.

         1.6  Books  and  Records.  The  corporate  materials  supplied  to  the
Purchaser are true, correct and complete in all material respects.

         1.7 Title to Properties; Encumbrances.

         (a)      Except as set  forth on  Schedule  1.7  attached  hereto,  the
                  Company  has  valid  and  marketable  title  to (a) all of its
                  properties  and  assets  (real  and  personal,   tangible  and
                  intangible),   including,   without  limitation,  all  of  the
                  properties and assets  reflected in the balance sheet included
                  as part of the  Financial  Statements,  except as indicated in
                  the Schedules hereto; and (b) all of the properties and assets
                  purchased by the Company  since the Balance  Sheet Date all of
                  which  purchases  as of a date not more than two days prior to
                  the date of this  Agreement,  have been set forth on  Schedule
                  1.7 attached  hereto;  in each case subject to no encumbrance,

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                  lien,  charge or other  restriction  of any kind or character,
                  except for (i) liens reflected in the balance sheet,  included
                  as part of the Financial Statements;  (ii) liens consisting of
                  zoning or planning restrictions,  easements, permits and other
                  restrictions  or  limitations  on the use of real  property or
                  irregularities  in  title  thereto  which  do  not  materially
                  detract from the value of, or impair the use of, such property
                  by the Company in the operation of its  business;  (iii) liens
                  for current  taxes,  assessments  or  governmental  charges or
                  levies on property not yet due and delinquent;  and (iv) liens
                  described on Schedule 1.7 attached  hereto  (liens of the type
                  described in clause (i), (ii) and (iii) above are  hereinafter
                  sometimes referred to as "Permitted Liens").

         (b)      The  rights,  properties  and other  assets  presently  owned,
                  leased or  licensed,  by the Company  reflected on the balance
                  sheet  included in the Financial  Statements or acquired since
                  the Balance  Sheet Date  include all  rights,  properties  and
                  other  assets  necessary  to permit the Company to conduct its
                  business in the same  manner as its  business  has  heretofore
                  been conducted. All such properties and assets owned or leased
                  by the Company are in satisfactory condition and repair, other
                  than ordinary wear and tear.

                  To the Shareholders' knowledge, no structure or improvement on
                  the real property leased by the Company,  whether now existing
                  or intended to be  constructed  pursuant to existing plans and
                  specifications,  violates,  or if completed would violate, any
                  applicable  zoning or building  regulations  or  ordinances or
                  similar federal, state or municipal law.

                  With  respect  to  the  real  property  and   structures   and
                  improvements,  whether now  existing,  under  construction  or
                  intended to be  constructed  pursuant  to  existing  plans and
                  specifications,  the  Company  has all  governmental  permits,
                  approvals, consents or similar authorizations necessary to own
                  or lease, construct and operate its properties,  each of which
                  are listed on  Schedule  1.7(b).  Such  governmental  permits,
                  approvals,  consents or similar  authorizations will remain in
                  effect  or, if due to expire by its  terms,  the  Shareholders
                  have no reason to believe  that they will not be  renewable in
                  accordance with their terms.

                  To the Shareholders' knowledge, no violations of any easements
                  or restrictions relating to the real property exist.

                  To the Shareholders' knowledge, no material structural defects
                  in any of the buildings or other  improvements  erected on the
                  leased real property exist.

         1.8 Leases.  Schedule  1.8  attached  hereto,  contains an accurate and
complete list and description of the terms of all leases to which the Company is
a party (as lessee or lessor). Each lease set forth on Schedule 1.8 (or required
to be set forth on  Schedule  1.8) is in full  force and  effect;  all rents and
additional  rents due to date on each such lease  have been paid;  in each case,

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the  lessee  has been in  peaceable  possession  since the  commencement  of the
original  term of such  lease and is not in  default  thereunder  and no waiver,
indulgence  or  postponement  of the lessee's  obligations  thereunder  has been
granted  by the  lessor;  and  there  exists  no  event  of  default  or  event,
occurrence,  condition or act (including the  consummation  of the  transactions
contemplated  hereby) which, with the giving of notice, the lapse of time or the
happening of any further event or  condition,  would become a default under such
lease.  The Company has not  violated any of the terms or  conditions  under any
such lease in any material  respect.  The property leased by the Company is in a
state of good  maintenance  and  repair and is  adequate  and  suitable  for the
purposes for which it is presently being used.

         1.9  Material  Contracts.  Except as set forth on Schedule 1.9 attached
hereto, the Company is not bound by:

         (a)      any  agreement,   contract  or  commitment   relating  to  the
                  employment  of any  person  by  the  Company,  or  any  bonus,
                  deferred compensation,  pension, profit sharing, stock option,
                  employee stock purchase,  retirement or other employee benefit
                  plan;

         (b)      any agreement,  indenture or other  instrument  which contains
                  restrictions with respect to payment of dividends or any other
                  distribution in respect of its capital stock;

         (c)      any loan or advance  to, or  investment  in,  any  individual,
                  partnership, joint venture, corporation, trust, unincorporated
                  organization,  government or other entity (each a "Person") or
                  any agreement,  contract or commitment  relating to the making
                  of any such loan, advance or investment;

         (d)      any guarantee or other contingent  liability in respect of any
                  indebtedness  or  obligation  of any  Person  (other  than the
                  endorsement  of negotiable  instruments  for collection in the
                  ordinary course of business);

         (e)      any management  service,  consulting or any other similar type
                  contract;

         (f)      any agreement,  contract or commitment limiting the freedom of
                  the  Company  or any  subsidiary  to  engage  in any  line  of
                  business or to compete with any Person;

         (g)      any agreement,  contract or commitment not entered into in the
                  ordinary course of business which involves $25,000 or more and
                  is not cancelable  without  penalty or premium within 30 days;
                  or

         (h)      any agreement,  contract or commitment  which might reasonably
                  be expected to have a potential adverse impact on the business
                  or operations of the Company; or

         (i)      any  agreement,  contract or  commitment  not reflected in the
                  Financial  Statement  under which the Company is  obligated to
                  make cash payments of, or deliver

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                  products or render  services with a value greater than $10,000
                  individually  or $30,000  in the  aggregate,  or receive  cash
                  payments  of, or receive  products  or  services  with a value
                  greater than $10,000 individually or $30,000 in the aggregate,
                  and any  other  agreement,  contract  or  commitment  which is
                  material to the conduct of the business of the Company.

         Each  contract or agreement  set forth on Schedule 1.9 (or not required
to be set forth on Schedule 1.9) is in full force and effect and there exists no
default or event of default or event,  occurrence,  condition or act  (including
the consummation of the transactions contemplated hereby) which, with the giving
of notice,  the lapse of time or the  happening of any other event or condition,
would  become a default  or event of default  thereunder.  The  Company  has not
violated any of the terms or  conditions  of any contract or agreement set forth
on  Schedule  1.9 (or not  required  to be set  forth  on  Schedule  1.9) in any
material  respect,  and,  to  the  knowledge,  of the  Shareholders,  all of the
covenants to be performed by any other party thereto have been fully  performed.
Except  as set forth on  Schedule  1.9,  the  consummation  of the  transactions
contemplated  hereby does not constitute an event of default (or an event, which
with notice or the lapse of time or both would  constitute a default)  under any
such contract or agreement.

         1.10  Restrictive  Documents.  (a) Except as set forth on Schedule 1.10
attached  hereto,  the Company is not  subject  to, or a party to, any  charter,
by-law, mortgage, lien, lease, license, permit, agreement, contract, instrument,
law,  rule,  ordinance,  regulation,  order,  judgment  or decree,  or any other
restriction of any kind or character,  which could  materially  adversely affect
the  business  practices,  operations  or condition of the Company or any of its
assets or property,  or which would  prevent  consummation  of the  transactions
contemplated  by this  Agreement,  or the  continued  operation of the Company's
business after the date hereof or the Closing Date (as  hereinafter  defined) on
substantially the same basis as heretofore  operated or which would restrict the
ability of the Company to acquire any property or conduct  business in any area.
(b) Except as set forth on  Schedule  1.10  attached  hereto,  each  Shareholder
represents  that they  individually  are not  subject  to,  or a party  to,  any
charter, by-law, mortgage,  lien, lease, license, permit,  agreement,  contract,
instrument, law, rule, ordinance,  regulation, order, judgment or decree, or any
other restriction of any kind or character,  or which would prevent consummation
of  the  transactions  contemplated  by  this  Agreement,   compliance  by  such
Shareholder  with the terms,  conditions  and provisions or which would restrict
the ability of the Company to acquire  any  property or conduct  business in any
area.

         1.11 Litigation.  Except as set forth on Schedule 1.11 attached hereto,
there  is no  action,  suit,  proceeding  at law or in  equity,  arbitration  or
administrative  or other  proceeding  by or before (or to the  knowledge  of the
Shareholders any investigation by) any governmental or other  instrumentality or
agency, pending, or, to the knowledge of the Shareholders,  threatened,  against
or affecting the Company,  or any of its  properties or rights,  or any officer,
director  or   employee  of  the  Company   other  than  such  items  which  are
insignificant  and immaterial and which do not adversely affect (i) the right or
ability  of the  Company  to  carry  on  business  as now  conducted;  (ii)  the
condition,  whether  financial or otherwise,  or  properties of the Company;  or
(iii) the consummation of the transactions contemplated hereby. To the knowledge
of the Shareholders  there is no valid basis for any such action,  proceeding or
investigation.  To the knowledge of the  Shareholders

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there are no outstanding orders,  judgments,  injunctions,  awards or decrees of
any court,  governmental  or regulatory  body or  arbitration  tribunal by which
either the Company, or any officer,  director or employee of the Company, or the
securities,  assets,  properties or business of any of them is bound, other than
any such items which are  insignificant and immaterial and which do not and will
not  adversely  affect (i) the right of the Company to carry on its  business as
now  conducted  and as  proposed  to be  conducted  by the  Purchaser  after the
consummation  of the  transactions  contemplated  by this  Agreement;  (ii)  the
condition,  whether  financial or otherwise,  of  properties of the Company;  or
(iii) the consummation of the transactions contemplated hereby.

         1.12 Taxes. Except as set forth on Schedule 1.12, the Company and every
member of the  consolidated  group of which the  Company  is a part has filed or
caused to be filed,  within the times and within the manner  prescribed  by law,
all  federal,  state,  local and foreign  tax returns and tax reports  which are
required  to be filed by, or with  respect  to, the  Company.  Such  returns and
reports reflect  accurately all known liability for taxes of the Company for the
periods  covered  thereby.  Except as set forth on Schedule  1.12,  all federal,
state, local and foreign income,  profits,  franchise,  employment,  sales, use,
occupancy,  excise and other taxes and  assessments,  stock and  transfer  taxes
(including  interest  and  penalties)  payable by, or shown to be due from,  the
Company and any member of the consolidated group of which the Company is a part,
have  been  fully  paid  and  fully  provided  for in the  books  and  financial
statements of the Company. To the knowledge of the Shareholders,  no examination
of any tax return of the Company or any member of a consolidated  group of which
the  Company is a part,  is  currently  in  progress.  There are no  outstanding
agreements or waivers extending the statutory period of limitation applicable to
any tax return of the Company.

         1.13 Liabilities. Except as set forth on Schedule 1.13, the Company has
no outstanding  claims,  liabilities or  indebtedness,  contingent or otherwise,
which  are not  properly  reflected  in the  Financial  Statements  in a  manner
consistently with past practice,  other than liabilities  incurred subsequent to
the Balance Sheet Date in the ordinary course of business not exceeding  $15,000
individually  or  $50,000  in  the  aggregate;  the  reserves  reflected  in the
Financial  Statements are adequate,  appropriate and reasonable.  The Company is
not in default in respect of the terms or conditions of any indebtedness.

         1.14     Intellectual Properties.

         (a)      Since  its  formation,  to the  Shareholders'  knowledge,  the
                  business  of the  Company has not  utilized  any  Intellectual
                  Property (as hereinafter  defined) except that which is listed
                  on Schedule 1.14 and rights granted to the Company pursuant to
                  the assignment and other  ownership  rights obtained by common
                  laws  and  work  for  hire  employment  agreements  listed  on
                  Schedule 1.14. Except as otherwise set forth on Schedule 1.14,
                  to the  knowledge  of the  Shareholders,  the Company owns all
                  right, title and interest in the Intellectual  Property listed
                  on Schedule 1.14 including,  without limitation, the rights to
                  use and license the same. Each item of  Intellectual  Property
                  listed on Schedule 1.14 has been duly registered  with,  filed

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                  in,  or  issued  by  the   appropriate   domestic  or  foreign
                  governmental  agency,  to the extent  required,  and each such
                  registration,  filing and  issuance  remains in full force and
                  effect. Except as set forth on Schedule 1.14, no claim adverse
                  to the interests of the Company in the  Intellectual  Property
                  or  agreements  listed on Schedule  1.14 has been made. To the
                  knowledge  of  the  Shareholders,   no  such  claim  has  been
                  threatened  or  asserted,  and no  basis  exists  for any such
                  claim.  To the  knowledge of the  Shareholders,  no Person has
                  infringed or  otherwise  violated the rights of the Company in
                  any of the  Intellectual  Property  or  agreements  listed  on
                  Schedule  1.14.  Except  as set  forth on  Schedule  1.14,  no
                  litigation  is  pending  wherein  the  Company  is  accused of
                  infringing or otherwise violating Intellectual Property rights
                  of others,  or of breaching a contract  conveying rights under
                  Intellectual  Property.  To the knowledge of the Shareholders,
                  no such claim has been  asserted  or  threatened  against  the
                  Company,  nor is the Company or any  Shareholder  aware of any
                  facts that would give rise to such a claim.  For  purposes  of
                  this Section 1.14,  "Intellectual Property" means domestic and
                  foreign   patents,   patent   applications,   registered   and
                  unregistered  trade  marks and  service  marks,  trade  names,
                  registered and  unregistered  copyrights,  computer  programs,
                  data bases, trade secrets, proprietary information, web sites,
                  web pages,  domain names,  and links.  The  Shareholders  will
                  assign any Intellectual Property owned by them and used in the
                  Company's  Business to the  Company.  To the  knowledge of the
                  Shareholders,  the  operation  of the  business of the Company
                  requires no rights under Intellectual Property (as hereinafter
                  defined)  other than rights  under the  Intellectual  Property
                  listed on Schedule 1.14 attached hereto, and rights granted to
                  the Company pursuant to agreements listed on Schedule 1.14.

         (b)      To the knowledge of the Shareholders,  the Company has, at all
                  times,  complied with all laws and regulations which relate to
                  the provision of e-commerce,  content,  information,  or other
                  products or services over the World Wide Web.

         1.15  Compliance  with  Laws.  To the  knowledge  of the  Shareholders,
neither the  Company,  nor to the  knowledge of the  Shareholders,  any officer,
director or employee of the Company,  is in violation of any  applicable  order,
judgment,  injunction,  award or decree, related to, arising out of or affecting
the business or  operations of the Company or its  properties or assets.  To the
knowledge of the Shareholders, neither the Company, nor any officer, director or
employee of the Company is in violation of any federal,  state, local or foreign
law,  ordinance,  regulation or any other  requirement  of any  governmental  or
regulatory  body,  court or  arbitrator  (including,  without  limitation,  laws
relating to the  environment and OSHA and the Americans with  Disabilities  Act)
other than  insignificant  or  immaterial  violations  which do not and will not
adversely  affect (i) the  Company's  business or  property;  (ii) the  business
proposed  to be  conducted  by  the  Purchaser  after  the  consummation  of the
transactions  contemplated by this Agreement;  or (iii) the  consummation of the
transactions   contemplated  by  this   Agreement.   To  the  knowledge  of  the
Shareholders,  each permit,  license,  order or approval of any  governmental or
regulatory body or other  applicable  authority  ("Permits") that is material to
the conduct of the Company's business is in full force and effect, no violations
are or have been  recorded in respect

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of any  permit  and no  proceeding  is  pending  or,  to  the  knowledge  of the
Shareholders,  threatened,  to revoke or limit any Permit,  which  revocation or
limitation could have an adverse effect on the Company's business or property or
the business to be  conducted by the  Purchaser  after the  consummation  of the
transactions  contemplated by this  Agreement.  Schedule 1.15 contains a list of
all Permits. Except as set forth on Schedule 1.15, no approval or consent of any
person is needed in order  that the  Permits  continue  in full force and effect
following the consummation of the transactions contemplated by this Agreement.

         1.16  Employment  Relations.  The  Company  is in  compliance  with all
Federal,  state  or other  applicable  laws,  domestic  or  foreign,  respecting
employment  and  employment  practices,  terms and  conditions of employment and
wages and hours, and has not and is not engaged in any unfair labor practice.

         1.17  Employee  Benefit  Plans.  The Company  has no  employee  welfare
benefit plan (an  "Employee  Welfare  Plan"),  as defined in Section 3(1) of the
Employee Retirement Income Security Act of 1974, as amended ("ERISA").

         1.18  Interests  in  Clients,  Suppliers,  Etc.  Except as set forth on
Schedule 1.18 attached hereto, no Shareholder nor any officer or director of the
Company  possesses,  directly or indirectly,  any financial interest in, or is a
director, officer or employee of, any corporation, firm, association or business
organization  which  is  a  client,  supplier,   customer,  lessor,  lessee,  or
competitor or potential competitor of the Company.  Ownership of securities of a
company whose  securities  are registered  under the Securities  Exchange Act of
1934, as amended,  not in excess of 1% of any class of such securities shall not
be deemed to be a financial interest for purposes of this Section 1.18.

         1.19 Bank  Accounts and Powers of Attorney.  Set forth on Schedule 1.19
attached  hereto is an  accurate  and  complete  list  showing  (a) the name and
address of each bank in which the  Company has an account or safe  deposit  box,
the  number of any such  account  or any such box and the  names of all  persons
authorized  to draw  thereon  or to have  access  thereto;  (b) the names of all
persons,  if any,  holding  powers of  attorney  from the  Company and a summary
statement of the terms thereof.

         1.20 No Changes Since Balance Sheet Date. Since the Balance Sheet Date,
the Company has not on a consolidated basis:

         (a)      incurred any liability or  obligation  of any nature  (whether
                  accrued,   absolute,    contingent   or   otherwise),   except
                  liabilities and obligations in the ordinary course of business
                  and  consistent  with past practice and which have resulted in
                  an increase of liabilities since the date of the Balance Sheet
                  of not more than $50,000 in the aggregate;

                                       9
<PAGE>

         (b)      permitted  any of its assets to be subjected to any  mortgage,
                  pledge, lien, security interest,  encumbrance,  restriction or
                  charge of any kind (other than Permitted Liens);

         (c)      sold,  transferred or otherwise  disposed of any assets except
                  inventory  sold  in  the  ordinary   course  of  business  and
                  consistent with past practice;

         (d)      made any single capital expenditure or commitment therefor, in
                  excess of $10,000 or made aggregate  capital  expenditures and
                  commitments therefor in excess of $30,000;

         (e)      declared or paid any dividend or made any  distribution on any
                  shares  of  its  capital  stock,  or  redeemed,  purchased  or
                  otherwise  acquired  any  shares of its  capital  stock or any
                  option, warrant or other right to purchase or acquire any such
                  shares;

         (f)      made any bonus or profit  sharing  distribution  or payment of
                  any kind;

         (g)      increased its  indebtedness  for borrowed  money,  or made any
                  loan to any Person;

         (h)      written off as uncollectible any notes or accounts receivable,
                  except  immaterial  write-downs  or write-offs in the ordinary
                  course of business and consistent  with past practice which do
                  not exceed  $10,000  in the  aggregate  charged to  applicable
                  reserves,  and none of which  individually or in the aggregate
                  is material to the Company;

         (i)      granted any increase in the rate of wages,  salaries,  bonuses
                  or other remuneration or benefits of any executive employee or
                  other  employees  or  consultants,  and no  such  increase  is
                  customary  on a periodic  basis or  required by  agreement  or
                  understanding;

         (j)      canceled or waived any claims or rights of substantial value;

         (k)      made any  change  in any  method  of  accounting  or  auditing
                  practice;

         (l)      otherwise   conducted   its   business  or  entered  into  any
                  transaction,  except in the usual and  ordinary  manner and in
                  the  ordinary  course of  business  and  consistent  with past
                  practices;

         (m)      paid,  discharged  or  satisfied  any claims,  liabilities  or
                  obligations (absolute, accrued, contingent or otherwise) other
                  than the payment,  discharge or  satisfaction  in the ordinary
                  course  of  business  and  consistent  with past  practice  of
                  liabilities and obligations  reflected and reserved against in
                  the Company's Financial Statements or incurred in the ordinary
                  course of business and consistent with past practice since the
                  Balance Sheet Date;

                                       10
<PAGE>

         (n)      paid,  loaned or advanced any amount to, or sold,  transferred
                  or leased any  properties or assets (real,  personal or mixed,
                  tangible or  intangible  to, or entered into any  agreement or
                  arrangement of any kind with,  any of its officers,  directors
                  or shareholders or any affiliate or associate of its officers,
                  directors or shareholders,  except compensation to officers at
                  rates not exceeding the rate of  compensation  in effect as of
                  the Balance Sheet Date;

         (o)      suffered any material  adverse changes in its working capital,
                  financial condition,  assets, liabilities (absolute,  accrued,
                  contingent or  otherwise),  reserves,  business  operations or
                  prospects; or

         (p)      agreed, whether or not in writing, to do any of the foregoing.

         1.21 Securities Matters.  Each Shareholder hereby represents,  warrants
and covenants to the Purchaser, as follows:

         (a)      Such  Shareholder  understands  that the Purchaser Shares have
                  not been  registered  under  the  Securities  Act of 1933,  as
                  amended (the "Securities Act"), or any state securities act in
                  reliance on exemptions therefrom.

         (b)      The  Purchaser  Shares  are  being  acquired  solely  for such
                  Shareholder's  own account,  for  investment and are not being
                  acquired  with a  view  to or for  the  resale,  distribution,
                  subdivision or fractionalization  thereof, the Shareholder has
                  no present plans to enter into any such contract, undertaking,
                  agreement  or  arrangement   and  such   Shareholder   further
                  understands  that the  Purchaser  Shares,  may only be  resold
                  pursuant to a registration statement under the Securities Act,
                  or pursuant to some other available exemption;

         (c)      The  Shareholder is an  "accredited  investor" as that term is
                  defined in Regulation D of the  Securities Act and through its
                  officers and directors has sufficient knowledge and experience
                  in financial and business  matters to be capable of evaluating
                  the merits and the risks of its  investment  in the  Purchaser
                  Shares and is able to bear the economic risk of its investment
                  in the Purchaser Shares;

         (d)      Such Shareholder acknowledges, in connection with the purchase
                  of the Purchaser Shares,  that no representation has been made
                  by  representatives  of the Purchaser  regarding its business,
                  assets or prospects  other than that set forth herein and that
                  it is relying  upon the  information  set forth in the filings
                  made by  Purchaser  pursuant  to Section 13 of the  Securities
                  Exchange   Act  of   1934,   as   amended   and   such   other
                  representations and warranties as set forth in this Agreement.

         (e)      Such  Shareholder  agrees that the certificate or certificates
                  representing  the  Purchaser  Shares  will be  inscribed  with
                  substantially the following legend:

                                       11
<PAGE>

         "The  securities   represented  by  this   certificate  have  not  been
         registered  under the Securities Act of 1933. The securities  have been
         acquired for  investment and may not be sold,  transferred  assigned in
         the absence of an effective registration statement for these securities
         under the Securities  Act of 1933 or an opinion of Purchaser's  counsel
         that registration is not required under said Act."

         1.22 Certain Business  Practices.  No officer,  director,  shareholder,
employee,  agent or other representative of the Company, or any person acting on
behalf of the Company has  directly or  indirectly,  within the past five years,
given or agreed to give any  illegal,  unethical  or  improper  gift or  similar
benefit to any customer, supplier,  governmental employee or other person who is
or may be in a position  to help or hinder the  Company or assist the Company in
connection with an actual or proposed transaction.

         1.23  Subsidiaries.  The Company has no subsidiaries or interest in any
corporation, partnership, joint venture or other entity.

         1.24 Disclosure.  Neither this Agreement,  nor the Financial Statements
referred to in Section 1.5 hereof, any Schedule, Exhibit or certificate attached
hereto or  delivered  in  accordance  with the terms  hereof or any  document or
statement in writing which has been supplied by or on behalf of the Shareholders
or by or on behalf of any of the  Company's  directors or officers in connection
with  the  transactions  contemplated  by this  Agreement  contains  any  untrue
statement  of a  material  fact,  or omits  any  statement  of a  material  fact
necessary  in order to make the  statements  contained  herein  or  therein  not
misleading. To the knowledge of the Shareholders,  there is no fact known to the
Shareholders which could materially and adversely affect the business, prospects
or financial condition of the Company or its properties or assets, which has not
been set  forth in this  Agreement,  the  Financial  Statements  referred  to in
Section 1.5 hereof (including the footnotes thereto),  any Schedule,  Exhibit or
certificate  attached hereto or delivered in accordance with the terms hereof or
any document or statement in writing  which has been supplied by or on behalf of
the Company or by or on behalf of any of the Company's  directors or officers in
connection with the transactions contemplated by this Agreement.

         1.25 Broker's or Finder's Fees. No agent, broker, person or firm acting
on behalf of the  Company or the  Shareholders  is, or will be,  entitled to any
commission or broker's or finder's fees from any of the parties hereto,  or from
any Person  controlling,  controlled by or under common  control with any of the
parties hereto, in connection with any of the transactions  contemplated by this
Agreement.

         1.26  Copies of  Documents.  The  Shareholders  have  caused to be made
available for  inspection  and copying by the Purchaser and its advisers,  true,
complete and correct copies of all documents referred to in this Article 1 or in
any Schedule attached hereto.

                                       12
<PAGE>

                                    ARTICLE 2
                        REPRESENTATIONS OF THE PURCHASER

         The Purchaser represents, warrants and agrees as follows:

         2.1  Organization  and Corporate  Power. The Purchaser is a corporation
duly  organized,  validly  existing and in good  standing  under the laws of the
State of Delaware,  and is duly qualified and in good standing to do business as
a foreign  corporation  in each  jurisdiction  in which  such  qualification  is
required  and where the  failure  to be so  qualified  would  have a  materially
adverse  effect upon the  Purchaser.  The Purchaser has all requisite  corporate
power  and  authority  to  conduct  its  business  as now being  conducted.  The
Purchaser's  Articles  of  Incorporation  as amended to date,  certified  by the
Secretary of State of Delaware,  and the By-laws of the  Purchaser as amended to
date, certified by the President and the Secretary of the Purchaser,  which have
been delivered to the Shareholders  prior to the execution hereof,  are true and
complete copies thereof as in effect as of the date hereof.

         2.2  Authorization.  The Purchaser has full power,  legal  capacity and
authority to enter into this Agreement,  to execute all attendant  documents and
instruments necessary to consummate the transaction herein contemplated,  and to
issue and sell the Purchaser Shares to the  Shareholders,  and to perform all of
its obligations  hereunder.  This Agreement and all other agreements,  documents
and  instruments  to be executed in connection  herewith  have been  effectively
authorized by all necessary action,  corporate or otherwise,  on the part of the
Purchaser,  which authorizations remain in full force and effect, have been duly
executed and delivered by the Purchaser,  and no other corporate  proceedings on
the part of the  Purchaser  are required to  authorize  this  Agreement  and the
transactions  contemplated hereby, except as specifically set forth herein. This
Agreement  constitutes the legal,  valid and binding obligation of the Purchaser
and is enforceable  with respect to the Purchaser in accordance  with its terms,
except  as  enforcement  hereof  may  be  limited  by  bankruptcy,   insolvency,
reorganization,  priority  or  other  laws of  court  decisions  relating  to or
affecting generally the enforcements of creditors' rights or affecting generally
the  availability of equitable  remedies.  Neither the execution and delivery of
this Agreement, nor the consummation by the Purchaser of any of the transactions
contemplated  hereby, or compliance with any of the provisions hereof,  will (i)
conflict with or result in a breach or,  violation of, or default under,  any of
the terms,  conditions  or provisions of any note,  bond,  mortgage,  indenture,
license,  lease,  credit agreement or other agreement,  document,  instrument or
obligation  (including,  without  limitation,  any of its charter  documents) to
which the Purchaser is a party or by which the Purchaser or any of its assets or
properties  may be bound,  or (ii)  violate  any  judgment,  order,  injunction,
decree, statute, rule or properties of the Purchaser. No authorization,  consent
or approval of any public body of authority or any third party is necessary  for
the  consummation  by the  Purchaser of the  transactions  contemplated  by this
Agreement.

         2.3 Capitalization. The authorized and outstanding capital stock of the
Purchaser  as of April 19, 2000 is as set forth in the  Purchaser's  Form 10-KSB
Report for the fiscal year ended

                                       13
<PAGE>

December 31, 1999 ("Form 10-KSB") and Form 10-QSB for March 31, 2000. All of the
outstanding  shares of the  Purchaser's  Common Stock have been,  and all of the
Purchaser's  Common Stock to be issued and sold to the Shareholders  pursuant to
this  Agreement,  when  issued and  delivered  as  provided  herein will be duly
authorized, validly issued, fully paid and non-assessable and free of preemptive
or similar  rights.  Except as set forth in the Form 10-KSB or on  Schedule  2.3
hereto,  there are no options warrants or other rights to acquire  securities of
the Purchaser or securities convertible into such securities.

         2.4      Financial Statements.

         (a)      The  Purchaser's  financial  statements  contained in its Form
                  10-KSB and Form  10-QSB for the period  ended  March 31,  2000
                  (the  "Purchaser's  Financial  Statements")  are  complete  in
                  material  respects and have been prepared in  accordance  with
                  generally   accepted   accounting   principles  applied  on  a
                  consistent  basis  throughout  the  periods   indicated.   The
                  Purchaser's   Financial  Statements  accurately  set  out  and
                  describe the financial  condition and operating results of the
                  Purchaser  as of the  dates,  and  for the  periods  indicated
                  therein, subject to normal year-end audit adjustments.  Except
                  as set  forth in the  Purchaser's  Financial  Statements,  the
                  Purchaser has no liabilities,  contingent or otherwise,  other
                  than  (i)  liabilities  incurred  in the  ordinary  course  of
                  business  subsequent  to March 31,  2000 and (ii)  obligations
                  under  contracts  and  commitments  incurred  in the  ordinary
                  course of business and not required under  generally  accepted
                  accounting  principles  to be  reflected  in  the  Purchaser's
                  Financial   Statements.   The  Purchaser  maintains  and  will
                  continue   to  maintain  a  standard   system  of   accounting
                  established  and  administered  in accordance  with  generally
                  accepted accounting principles.

         (b)      Except as set forth in  Schedule  2.4,  since  March 31,  2000
                  there has been (i) no material adverse change in the assets or
                  liabilities,  or in the  business or  condition,  financial or
                  otherwise,  or in the results of operations  or prospects,  of
                  Purchaser whether as a result of any legislative or regulatory
                  change,  revocation  of any license or rights to do  business,
                  fire, explosion,  accident,  casualty,  labor trouble,  flood,
                  drought,  riot,  storm,  condemnation  or act of God or  other
                  public force or otherwise and (ii) no material  adverse change
                  in the assets or liabilities, or in the business or condition,
                  financial or  otherwise,  or in the results of  operations  or
                  prospects, of Purchaser and to the best knowledge, information
                  and belief of  Purchaser,  no fact or  condition  exists or is
                  contemplated or threatened  which might cause such a change in
                  the future.

         2.5 Subsidiaries. The Purchaser has no subsidiaries and no investments,
directly or indirectly,  or other financial interest in any other corporation or
business  organization,  joint  venture or  partnership  of any kind  whatsoever
except set forth in Schedule 2.5.

                                       14
<PAGE>

         2.6.  Absence of Undisclosed  Liabilities.  Except as and to the extent
reflected or reserved  against in the most recent  balance sheet included in the
Purchaser's  Financial   Statements,   the  Purchaser  has  no  liability(s)  or
obligation(s)  (whether accrued,  to become due,  contingent or otherwise) which
individually or in the aggregate  could have a materially  adverse effect on the
business, assets, properties, condition (financial or otherwise) or prospects of
the Purchaser. Except as disclosed on Schedule 2.6 hereto, there are no material
changes in the business of the Purchaser.

         2.7 No Pending Material Litigation or Proceedings.  Except as set forth
in the Purchaser's Form 10-KSB and Form 10-QSB,  there are no actions,  suits or
proceedings  pending or, to the best of the  Purchaser's  knowledge,  threatened
against or affecting  the Purchaser  (including  actions,  suits or  proceedings
where liabilities may be adequately covered by insurance) at law or in equity or
before or by any federal,  state,  municipal or other  governmental  department,
commission,  court,  board,  bureau,  agency  or  instrumentality,  domestic  or
foreign,  or affecting  any of the  officers or  directors  of the  Purchaser in
connection  with the  business,  operations or affairs of the  Purchaser,  which
might result in any adverse change in the business,  properties or assets, or in
the condition (financial or otherwise) of the Purchaser,  or which might prevent
the sale of the  transactions  contemplated  by this  Agreement.  Except for the
proceeding of the Purchasers' subsidiaries disclosed in the Form 10-KSB and Form
10-QSB, the Purchaser is not subject to any voluntary or involuntary  proceeding
under the United States  Bankruptcy  Code and has not made an assignment for the
benefit of creditors.

         2.8 Disclosure.  Neither this Agreement, nor any certificate,  exhibit,
or other written  document or statement,  furnished to the  Shareholders  by the
Purchaser in connection  with the  transactions  contemplated  by this Agreement
contains or will  contain any untrue  statement  of a material  fact or omits or
will omit to state a material  fact  necessary to be stated in order to make the
statements contained herein or therein not misleading.

         2.9 Tax Returns and  Payments.  Except as  otherwise  reflected  in the
Financial  Statements,  Purchaser  has timely filed or caused to be timely filed
(including allowable extensions) all material federal, state, local, foreign and
other tax returns for income taxes, sales taxes,  withholding taxes,  employment
taxes,  property  taxes,  franchise  taxes  and all  other  taxes of every  kind
whatsoever  which are  required by law to have been filed.  Except as  otherwise
reflected in the Financial  Statements,  Purchaser has paid or caused to be paid
all taxes,  assessments,  fees,  penalties and other governmental  charges which
were shown to be due pursuant to said returns and all other taxes,  assessments,
fees, penalties and other governmental charges which have become due and payable
on said  returns.  The  provisions  for income and other taxes  reflected in the
Financial Statements make adequate provision for all accrued and unpaid taxes of
Purchaser,  whether or not disputed, and Purchaser has made and will continue to
make  adequate  provision  for such  taxes on its books and  records.  Except as
otherwise reflected in the Financial  Statements,  Purchaser is not party to any
action or proceeding  pending or threatened  by any  governmental  authority for
assessment  or  collection  of taxes;  no  unresolved  claim for  assessment  or
collection of such taxes has been asserted  against  Purchaser,  and no audit or
investigation by state or local government  authorities is under way.  Purchaser
will make

                                       15
<PAGE>

available for review by the Shareholders or their representatives  copies of the
federal income and state franchise tax returns of Purchaser as may be requested.

         2.10 Compliance with Law and Government  Regulations.  The Purchaser is
in  compliance  with all  applicable  statutes,  regulations,  decrees,  orders,
restrictions,  guidelines and standards, whether mandatory or voluntary, imposed
by the United States of America,  any state,  county,  municipality or agency of
any thereof,  and any foreign  country or  government  to which the Purchaser is
subject.  Without  limiting the generality of the  foregoing,  the Purchaser has
filed all reports and statements required to be filed pursuant to the Securities
Act of 1933 (the  "1933  Act") and  Securities  Exchange  Act of 1934 (the "1934
Act") including all periodic  reports required under the Section 13 or 15 of the
Exchange Act.  Each of such reports was  complete,  did not contain any material
misstatement of or omit to state any material fact.

         2.11 Broker's or Finder's Fees. No agent, broker, person or firm acting
on behalf  of the  Purchaser  is,  or will be,  entitled  to any  commission  or
broker's or finder's fees from the Shareholders or from any Person  controlling,
controlled  by or under  common  control  with  any of the  parties  hereto,  in
connection with any of the transactions contemplated herein.

                                    ARTICLE 3
                           SALE OF SHARES AND WARRANTS

         3.1 Sale of Shares.  Subject to the terms and conditions herein stated,
the Shareholders agree to sell, assign, transfer and deliver to Purchaser on the
Closing  Date,  and  Purchaser  agrees to purchase  the Company  Shares from the
Shareholders  on the Closing Date.  The  certificates  representing  the Company
Shares  shall be duly  endorsed in blank,  or  accompanied  by stock powers duly
executed in blank, by the Shareholders transferring the same, with all necessary
transfer  tax and other  revenue  stamps,  acquired  at  Shareholders'  expense,
affixed and  canceled.  The  Shareholders  agree to cure any  deficiencies  with
respect to the endorsement of the  certificates  representing the Company Shares
owned by the  Shareholders or with respect to the stock power  accompanying  any
such certificates.

         3.2      Price for the Company Shares.

         (a)      In full  consideration  for  the  acquisition  of the  Company
                  Shares,  the  Purchaser  will  issue  to the  Shareholders  an
                  aggregate of 1,130,000 Purchaser Shares and 218,000 three-year
                  warrants (the "Warrants') to purchase additional shares of the
                  Purchaser's  Common  Stock for $2.00 per share.  The  Warrants
                  shall be in the form annexed hereto as Exhibit A.

         (b)      The Purchaser  further agrees to issue within ten (10) days of
                  the occurrence of the event:

                                       16
<PAGE>

                  (i)      an aggregate 500,000  additional  Purchaser Shares to
                           the  Shareholders  if the Company,  prior to December
                           31, 2001,  processes 25,000  "Transactions"  (defined
                           below) during one calendar month; and

                  (ii)     450,000   additional    Purchaser   Shares   to   the
                           Shareholders  if the  Company is awarded a patent for
                           its gift certificate technology, entitled "Electronic
                           Buying  Certificate"  which  application was filed on
                           May  27,  1999  (Serial  No.  09/311,196)  or on  the
                           Continuation-in-Part filed August 2, 2000 on or prior
                           to June 30, 2003; and

                  (iii)    The  Purchaser  will  issue  the  additional  500,000
                           Purchaser  Shares set forth in paragraph (b)(i) above
                           and the additional 450,000 Purchaser Shares set forth
                           in paragraph  (b)(ii)  above in the event the Company
                           offers  shares  in an  underwritten  public  offering
                           before   December   31,  2001  and  June  30,   2003,
                           respectively.

         (c)      For the purposes of Section 3.2 (b) (i) of this  Agreement,  a
                  Transaction will be deemed to have occurred each time a person
                  or entity makes a request for a gift  certificate(s)  from the
                  Certificate   Express  website  and  the  Certificate  Express
                  software system fulfills the order so that the certificate can
                  be emailed or  downloaded  to a personal  computer.  It is not
                  required  that the  purchaser or recipient of the  certificate
                  actually print or negotiate the  certificate for a Transaction
                  to have occurred.

         (d)      In each  case,  the  Purchaser  will  issue  and  deliver  the
                  Purchaser Shares and Warrants to the Shareholders according to
                  the list on Schedule 1.1.

         3.3      Antidilution Provisions.

         (a)      As of the  date  of this  Agreement  there  are  approximately
                  15,500,000 shares of the Purchaser's Common Stock outstanding.
                  If all of the Transaction Shares and Patent Shares are earned,
                  the  Shareholders  would  acquire an  aggregate  of  2,150,000
                  Purchaser   Shares  as  a  result  of  this   Agreement.   The
                  Shareholders  understand  that the Purchaser plans a financing
                  transaction  in  which it will  issue  shares  of  Purchaser's
                  Common Stock for up to $1,500,000. At the time essential terms
                  of this Agreement were  negotiated,  the parties believed that
                  the price at which  the  shares of  Purchaser's  Common  Stock
                  would be issued  would not be less than  $1.50 per  share.  If
                  that had occurred, the Shareholders would have owned a maximum
                  of 2,150,000 of 18,650,000 shares or 11%.

         (b)      In order to protect the  Shareholders  from dilution caused by
                  the  issuance of shares of  Purchaser's  Common Stock for less
                  than $1.50 per share, the Purchaser agrees to issue additional
                  Purchaser Shares to the Shareholders determined by multiplying
                  the number of shares  issued in excess of  1,000,000  to raise
                  $1.5

                                       17
<PAGE>

                  million  by 0.11 (the  "Adjustment  Shares").  The  Adjustment
                  Shares will be allocated as follows:

                                               Initial Shares  Adjustment Shares

                  Purchaser Shares (at Closing)   1,200,000           56%
                  Transaction Shares                500,000           23%
                  Patent Shares                     450,000           21%
                                                 ----------          -----
                                                 2,150,000           100%

         (c)      As an example,  if the Purchaser  issues  1,500,000 shares for
                  $1.00 per share, an additional  55,000  Purchaser Shares would
                  be due as follows:

                  Purchaser Shares          30,800
                  Transaction Shares        12,650
                  Patent Shares             11,550
                                            ------
                                            55,000

         (d)      All   Adjustment   Shares  will  be  deemed   fully  paid  and
                  non-assessable without the receipt of further consideration of
                  the Purchaser.

         3.4 Closing.  The sales referred to in Sections 3.1 shall take place at
10:00 A.M. at the offices of Sommer & Schneider LLP, 595 Stewart  Avenue,  Suite
710, Garden City, New York,  11530 at two business days after all the conditions
set forth in Articles 4 and 5 have been fulfilled or waived,  but not later than
August 11,  2000,  or at such other time and date as the  parties  hereto  shall
agree in  writing.  Such time and date are herein  referred  to as the  "Closing
Date."

                                    ARTICLE 4

                      CONDITIONS TO PURCHASER'S OBLIGATIONS

         The purchase of the Company  Shares by Purchaser on the Closing Date is
conditioned  upon  satisfaction,  on or prior  to such  date,  of the  following
conditions:

         4.1      Reserved.

         4.2      Good Standing and Other  Certificates.  The Shareholders shall
have delivered to the Purchaser:

         (a)      copies  of the  Company's  charter  including  all  amendments
                  thereto,  in each case  certified by the Secretary of State or
                  other   appropriate    official   of   its   jurisdiction   of
                  incorporation;

                                       18
<PAGE>

         (b)      a certificate from the Secretary of State or other appropriate
                  official of their respective jurisdictions of incorporation to
                  the effect that the Company is in good  standing or subsisting
                  in  such   jurisdiction  and  listing  all  charter  documents
                  including all  amendments  thereto,  of the Company's  charter
                  documents on file;

         (c)      a  copy  of  the  By-Laws  of the  Company,  certified  by the
                  respective  Secretary of each entity as being true and correct
                  and in effect on the Closing Date.

         (d)      a resolution of the Company's Board of Directors  certified by
                  their   respective   Secretary   approving  the   transactions
                  contemplated hereby.

         4.3 No Material Adverse Change.  Prior to the Closing Date, there shall
be no material  adverse  change in the assets or  liabilities,  the  business or
condition,  financial or otherwise,  the results of operations,  or prospects of
the  Company,  whether  as a result of any  legislative  or  regulatory  change,
revocation of any license or rights to do business,  fire, explosion,  accident,
casualty, labor trouble, flood, drought, riot, storm, condemnation or act of God
or other public force or otherwise, and the Shareholders shall have delivered to
the  Purchaser  a  certificate   signed  by  the   Company's   duly   authorized
representative, dated the Closing Date, to such effect.

         4.4 Reserved.

         4.5 Truth of Representations  and Warranties.  The  representations and
warranties of each  Shareholder  contained in this  Agreement or in any Schedule
attached hereto shall be true and correct on and as of the Closing Date with the
same effect as though such  representations  and warranties had been made on and
as of such date.

         4.6   Performance  of  Agreements.   All  of  the  agreements  of  each
Shareholder  to be performed on or before the Closing Date pursuant to the terms
hereof shall have been duly performed, and the Shareholders shall have delivered
to the Purchaser a  certificate,  signed by the  Shareholders'  duly  authorized
representative dated the Closing Date, to such effect.

         4.7 No Litigation Threatened.  No action or proceedings shall have been
instituted  or  threatened  before a court or  other  government  body or by any
public  authority to restrain or prohibit any of the  transactions  contemplated
hereby, and the Shareholders shall have delivered to the Purchaser a certificate
signed by the Shareholders'  duly authorized  representative,  dated the Closing
Date, to such effect.

         4.8 Chief Financial Officer's Letter. The Purchaser shall have received
a letter, dated the Closing Date, from the Company's Chief Financial Officer, in
form and  substance  satisfactory  to them, to the effect set forth in Exhibit C
attached hereto.

                                       19
<PAGE>

         4.9  Governmental  Approvals.  All  governmental and other consents and
approvals,  if any,  necessary to permit the  consummation  of the  transactions
contemplated by this Agreement shall have been received.

         4.10  Proceedings.  All  proceedings to be taken in connection with the
transactions  contemplated by this Agreement and all documents  incident thereto
shall be  satisfactory in form and substance to the Purchaser and their counsel,
and the  Purchaser  shall have received  copies of all such  documents and other
evidences as they or their counsel may reasonably  request in order to establish
the  consummation  of such  transactions  and the taking of all  proceedings  in
connection therewith.

         4.11  Employment  Agreements.  The  Company  shall  have  entered  into
employment   agreements   with   Jonathan  D.  Greene  and  Michael  C.  Mullen,
substantially  in the  form  annexed  hereto  as  Exhibits  C1 and C2  with  the
modifications set forth in Exhibit C3.

         4.12 Lock-Up  Agreements.  Each  Shareholder  shall have entered into a
lock-up agreement with the Purchaser in the form annexed hereto as Exhibit D.

         4.13 Patent  Opinion.  The  Purchaser  shall have received the complete
favorable opinion of Oblon, Spivak,  McClelland,  Maier & Neustadt, P.C., to the
effect that the  technology  employed by the Company  does not  infringe  upon a
specific existing patent. Further, as to patent issues, Purchaser shall have the
right not to proceed to closing only if Purchaser shall have received an adverse
opinion of competent patent counsel either that (a) the patent  application does
not cover the process  described in Schedule 1.14 or (b) that such process would
infringe on any existing patent.

         4.14  Options  and  Warrants.  All  outstanding  options or warrants to
purchase   capital  stock  of  the  Company  shall  have  been  surrendered  for
cancellation.

         4.15 Financing. Reserved.

         4.16 Assignment and Assu mption of Agreement with Qwest.  United States
Check  Company,  Inc.  ("U.S.  Check") shall have entered into an assignment and
assumption agreement in the form annexed hereto as Exhibit H which shall provide
the  Company  with the benefit of the  agreement  between  U.S.  Check and Qwest
Communications Corporation dated November 29, 1999.

         4.17 Other  Shareholders.  Michael Mullen and Scott  Westenhofer  shall
have agreed to transfer all shares of the Company owned by them to Purchaser for
70,000 Purchaser Shares and 6,000 Warrants.

         4.18 Part Time Counsel.  John J. Byrne,  Jr. shall have entered into an
agreement,  acceptable  to the Purchaser to serve as counsel for the Company for
one year at  compensation  of $60,000,  payable $5,000 per month,  for 1/2of his
time.

                                       20
<PAGE>

         4.19 Closing.  The  transactions  contemplated  by this Agreement shall
have been consummated by August 11, 2000.

                                    ARTICLE 5

                        CONDITIONS TO THE OBLIGATIONS OF
                                THE SHAREHOLDERS

         The obligations of the Shareholders on the Closing Date are conditioned
upon satisfaction, on or prior to such date, of the following conditions:

         5.1 Reserved.

         5.2 Good Standing  Certificates.  The Purchaser shall have delivered to
the Shareholders:

         (a)      copies of the Certificate of  Incorporation  of the Purchaser,
                  including all amendments  thereto,  certified by the Secretary
                  of State of the State of Delaware; and

         (b)      certificates  from the  Secretary  of  State  of the  State of
                  Delaware to the effect that  Purchaser is in good  standing in
                  such State and listing all charter  documents,  including  all
                  amendments thereto, of Purchaser on file.

         5.3 Truth of Representations  and Warranties.  The  representations and
warranties  of the  Purchaser  contained  in this  Agreement  shall  be true and
correct  on and as of the  Closing  Date with the same  effect  as  though  such
representations  and  warranties  had  been  made  on and as of such  date,  and
Purchaser  shall have  delivered to the  Shareholder  a  certificate,  dated the
Closing Date, to such effect.

         5.4 Governmental Approvals. All governmental consents and approvals, if
any,  necessary to permit the consummation of the  transactions  contemplated by
this Agreement shall have been received.

         5.5  Performance of Agreements.  All of the agreements of the Purchaser
to be performed on or before the Closing Date pursuant to the terms hereof shall
have  been  duly  performed,  and the  Purchaser  shall  have  delivered  to the
Shareholder a certificate, dated the Closing Date, to such effect.

         5.6  Proceedings.  All  proceedings to be taken in connection  with the
transactions  contemplated by this Agreement and all documents  incident thereto
shall be reasonably  satisfactory in form and substance to the  Shareholders and
their  counsel,  and the  Shareholders  shall have  received  copies of all such
documents and other evidences as they or their counsel

                                       21
<PAGE>

may  reasonably   request  in  order  to  establish  the  consummation  of  such
transactions and the taking of all proceedings in connection therewith.

         5.7 Registration Rights Agreement. The Purchaser and Shareholders shall
have entered into a registration  rights  agreement,  substantially  in the form
annexed hereto as Exhibit F.

         5.8 Loan and Security  Agreement.  The  Purchaser  shall have  provided
$250,000 to the Company pursuant to a loan and security agreement  substantially
in the form annexed hereto as Exhibit G (the "Loan Agreement").

         5.9 Employment  Agreements.  The Purchaser  shall have entered into the
employment agreements referred to in Section 4.11, above.

         5.10 Financing. Reserved.

         5.11 Stock Options. Jonathan Greene, John Byrne, Jr. and Michael Mullen
shall be granted the options  described in Lee  Montellaro's  memorandum of June
28, 2000 from the Purchaser's  1994 Performance  Equity Plan,  annexed hereto as
Exhibit Z.

         5.12 Closing.  The  transactions  contemplated  by this Agreement shall
have been consummated by August 11, 2000.

                                    ARTICLE 6

                          COVENANTS OF THE SHAREHOLDERS

         6.1 Non-Competition; Non-Interference. In consideration of the purchase
of the Shares by Purchaser,  each Shareholder  individually agrees that from the
date of this Agreement  until April 30, 2002,  except as set forth in Article 6A
below,  such  Shareholder  will not,  whether  for their own  account or for the
account or any other person, directly or indirectly:

         (a)      engage  or  invest  in,  own,  manage,  operate,   control  or
                  participate in the ownership, management, operation or control
                  of, be employed by, associated or in any manner connected with
                  or render services or advice to, any business, the products or
                  services  of which  compete,  in  whole  or in part,  with the
                  products or activities of the Company in which the Company was
                  engaged at the time up to the Closing Date;

         (b)      solicit any potential  customer or client to which the Company
                  has made a presentation, or with which the Company has been in
                  contact,  not to hire the Company,  or to hire another company
                  whether or not such Company  Party had  personal  contact with
                  such person during or by reason of his or its association

                                       22
<PAGE>

                  with the Company; or

         (c)      solicit the  business  of any  company  which is a customer or
                  client of the Company,  or was its  customer or client  within
                  two years prior to the date of this Agreement;

         (d)      persuade or attempt to persuade  any  employee of the Company,
                  or any  individual  who was its employee  during the two years
                  prior to the date of this  Agreement,  to leave the  Company's
                  employ, or to become employed by or otherwise be engaged as an
                  independent consultant or otherwise for, any person other than
                  the Company; or

         (e)      disclose or use any confidential information of the Company or
                  any of their  clients  and  customers.  For  purposes  of this
                  section "confidential  information" with respect to any entity
                  shall mean trade secrets concerning such entity's  operations,
                  future  plans,  projected  and  historical  sales,  marketing,
                  costs,  production,  growth  and  distribution,  any  customer
                  lists,  customer  information or other information relating to
                  the  products  or  services,   whether   patentable   or  not,
                  concerning  the business of such entity as conducted  prior to
                  the Closing Date.

         6.2  Construction.  It is the desire and intent of the  parties to this
Agreement  that the  provisions  of Section 6.1 shall be enforced to the fullest
extent   permissible  under  the  laws  and  public  policies  applied  in  each
jurisdiction  in which  enforcement is sought.  If any particular  provisions or
portion of Section 6.1 shall be adjudicated to be invalid or unenforceable,  for
any reason, including,  without limitation,  the geographic or business scope or
duration thereof,  such provision shall be construed in such a way as to make it
valid  and  enforceable  to  the  maximum  extent  possible.   Any  validity  or
unenforceability  of any provision of this  Agreement  shall attach only to such
provision  and shall not effect or render  invalid any other  provision  of this
Agreement or any other agreement or instrument.

         6.3  Enforcement.  The parties  recognize  that the  performance of the
obligations  under  Section  6  by  each  Shareholder  is  special,  unique  and
extraordinary  in  character,  and  that  in the  event  of the  breach  by such
Shareholder  of the terms and  conditions  of Section 6.1 to be  performed,  the
Company and/or the Purchaser would suffer irreparable harm for which there would
be no adequate remedy at law. Accordingly,  each Shareholder agrees that in such
event, in addition to any other remedies which the Company and/or  Purchaser may
have in law or equity for money  damages or other  relief,  the  Company and the
Purchaser shall be entitled to temporary and/or injunctive  relief,  without the
necessity  of posting a bond  therefor  or of proving  damages,  to enforce  the
provisions hereof.

                                       23
<PAGE>

                                   ARTICLE 6A

                                 LOAN AGREEMENT

         6A.1 The  Purchaser  will  provide a minimum of $900,000 to the Company
pursuant  to the Loan  Agreement,  of which  $250,000  will be  provided  at the
Closing.  Of the  $250,000  provided  at Closing,  $200,000  will be used to pay
outstanding  obligations of the Company as of the Closing Date. The balance will
be available  to the Company at the rate of not less than  $100,000 per month on
the first of each month  following  the  Closing  during  the period  commencing
September 1, 2000 and  continuing to February 1, 2001 and the remaining  $50,000
will be avaible  March 1, 2001.  Any unused  advance will be carried over to the
subsequent months and any advance in excess of the minimum monthly commitment of
$100,000 will be deducted ratably from the minimum advances.

         6A.2  Notwithstanding   other  provisions  herein,  in  the  event  the
Purchaser  defaults in providing  the advances  under the loan  agreement,  upon
written  demand of any of the  Shareholders,  the  Purchaser  shall  transfer to
Shareholders:  (a) any and all right,  title and  interest  in the  Intellectual
Property  of the  Company,  including  but not  limited  to any  and all  patent
applications,  Continuations-in-Part, and trademarks (registered or common law);
and (b) any and all software, hardware, websites and URLs, developed or owned by
the  Company;  (c) any and all good will or  assets  owned or  developed  by the
Company. Assets as used herein shall include, but not be limited to, all service
and customer  contracts  entered into by the Company,  and (d) the  Shareholders
shall be release from their obligations under Section 6.1 (a), (b), (c) and (d).
All assets  will be  returned  to  Shareholders  free and clear of all liens and
encumbrances  in  exchange  for the  Shareholders  returning  to  Purchaser  all
Purchaser  Shares and  Warrants  Shareholders  have  received  pursuant  to this
Agreement.

                                    ARTICLE 7

                 CONDUCT OF BUSINESS; EXCLUSIVE DEALING; REVIEW

         7.1.  Conduct of  Business of the  Company.  During the period from the
date of this  Agreement to the Closing Date,  the  Shareholders  shall cause the
Company and each of its subsidiaries to conduct their respective operations only
according  to their  ordinary and usual course of business and to use their best
efforts  to  preserve  intact  their  respective  business  organizations,  keep
available the services of their officers and employees and maintain satisfactory
relationships with licensors, suppliers, distributors, clients and others having
business  relationships  with them.  Notwithstanding  the immediately  preceding
sentence,  prior to the  Closing  Date,  except as may be first  approved by the
Purchaser  or as is  otherwise  permitted  or  required by this  Agreement,  the
Shareholders  will  cause  (a)  the  Company's  and  each  of its  subsidiaries'
respective  Certificate of  Incorporation  and By-Laws to be maintained in their
form on the date of this Agreement,  (b) the  compensation  payable or to become
payable by the Company and each of its subsidiaries to any officer,  employee or
agent  being  paid

                                       24
<PAGE>

$50,000 per year or more on the  Balance  Sheet Date to be  maintained  at their
levels  on the  date  of  this  Agreement,  (c)  the  Company  and  each  of its
subsidiaries to refrain from making any bonus, pension,  retirement or insurance
payment or  arrangement  to or with any such persons  except those that may have
already been accrued,  (d) the Company and each of its  subsidiaries  to refrain
from entering into any contract or commitment  except  contracts in the ordinary
course of business, (e) the Company and each of its subsidiaries to refrain from
making  any  change  affecting  any  bank,  safe  deposit  or power of  attorney
arrangements  of the Company or any such subsidiary and (f) the Company and each
of its  subsidiaries  to refrain  from taking any of the actions  referred to in
Section 1.20 hereof.  The Shareholders  agree not to take any action, or omit to
take any action,  which would cause the representations and warranties contained
in Article I hereof to be untrue or  incorrect.  During the period from the date
of this Agreement to the Closing Date, the Shareholders  shall cause the Company
to  confer  on a  regular  and  frequent  basis  with  one  or  more  designated
representatives of the Purchaser to report material  operational  matters and to
report the general status of ongoing  operations.  The Shareholders  shall cause
the Company and each of its  subsidiaries to notify  Purchaser of any unexpected
emergency  or other  change  in the  normal  course  of its  business  or in the
operation of its properties and of any governmental  complaints,  investigations
or hearings (or  communications  indicating that the same may be  contemplated),
adjudicatory proceedings,  budget meetings or submissions involving any material
property  of the  Company and each of its  subsidiaries,  and to keep  Purchaser
fully  informed of such events and permit its  representatives  prompt access to
all materials prepared in connection therewith.

         7.2.  Exclusive  Dealing.  During  the  period  from  the  date of this
Agreement to the Closing Date, the  Shareholders  shall not, and shall cause the
Company to refrain from taking any action to, directly or indirectly, encourage,
initiate  or  engage  in  discussions  or  negotiations  with,  or  provide  any
information to, any Person, other than the Purchaser, concerning any purchase of
the Stock or any  merger,  sale of  substantial  assets or  similar  transaction
involving the Company.

         7.3.  Review of the Company.  The Purchaser  may,  prior to the Closing
Date, through their representatives, review the properties, books and records of
the Company and each of its  subsidiaries  and its financial and legal condition
as they  deem  necessary  or  advisable  to  familiarize  themselves  with  such
properties  and other  matters;  such  review  shall  not,  however,  affect the
representations  and  warranties  made  by  the  Shareholders  hereunder  or the
remedies of the Purchaser for breaches of those  representations and warranties.
The Shareholders  shall cause the Company and each of its subsidiaries to permit
the Purchaser and their  representatives to have, after the date of execution of
this Agreement,  full access to the premises and to all the books and records of
the Company and its  subsidiaries  and to cause the  officers of the Company and
each of its  subsidiaries  to furnish  the  Purchaser  with such  financial  and
operating data and other information with respect to the business and properties
of the Company and its  subsidiaries  as the  Purchaser  shall from time to time
reasonably request. In the event of termination of this Agreement, the Purchaser
shall keep confidential any material  information obtained from the Shareholders
or the Company or any subsidiary  concerning the Company's and its subsidiaries'
respective  properties,  operations and business  (unless readily  ascertainable
from public or published  information or trade sources) until the same ceases to
be  material  (or  becomes  so

                                       25
<PAGE>

ascertainable)  and, at the  request of the  Shareholders,  shall  return to the
Company and its subsidiaries all copies of any schedules,  statements, documents
or other written information obtained in connection therewith.  The Shareholders
shall  deliver  or cause to be  delivered  such  additional  instruments  as the
Purchaser  may  reasonably   request  for  the  purpose  of   consummating   the
transactions contemplated by this Agreement.

                                    ARTICLE 8

                 SURVIVAL OF REPRESENTATIONS; INDEMNITY; SET-OFF

         8.1   Survival   of   Covenants   and   Agreements.    The   respective
representations,  warranties,  covenants and agreements of the  Shareholders and
the Purchaser  contained in this Agreement,  or any Schedule  attached hereto or
any agreement or document delivered pursuant to this Agreement shall survive for
a period of two years from the  consummation  of the  transactions  contemplated
hereby; provided,  however, that the representations,  warranties and agreements
made with regard to taxes and ERISA matters  shall survive until the  applicable
statutes of limitations have expired; and provided further,  however,  that with
respect to any covenant,  term or provision to be performed  hereunder or in any
of the Schedules hereto or any documents or agreements delivered hereunder,  the
right of indemnification under this Article 8 shall survive until such covenant,
term or provision has been fully paid, performed or discharged.

         8.2      Indemnification.

         (a)      The Shareholders agree to indemnify and hold the Purchaser and
                  their officers, directors, shareholders, employees, affiliates
                  and  agents  harmless  from  damages,   losses,   liabilities,
                  assessments,  judgments, costs or expenses (including, without
                  limitation,  penalties,  interest and reasonable  counsel fees
                  and expenses),  (each a "Claim"),  in excess of $25,000 in the
                  aggregate,  as a  result  of or  arising  out of the  material
                  breach  of  any   representation   or  warranty  made  by  the
                  Shareholders, or the failure of any material representation or
                  warranty made by the  Shareholders in this Agreement or in any
                  Schedule   attached   hereto  or  any  document  or  agreement
                  delivered  hereunder  to be true and  correct in all  material
                  respects  as of  the  date  of  this  Agreement  and as of the
                  Closing Date or the non-performance by the Shareholders of any
                  covenant, term or provision to be performed by it hereunder or
                  in any of the  documents  or  agreements  delivered  hereunder
                  which may be imposed or sought to be imposed on  Purchaser  or
                  the Shareholders.

         (b)      The Purchaser  agrees to indemnify  and hold the  Shareholders
                  and  each  of   their   officers,   directors,   shareholders,
                  employees, affiliates and agents harmless from damages, losses
                  or expenses (including, without limitation, reasonable counsel
                  fees and  expenses)  in excess of $25,000,  in the  aggregate,
                  suffered or paid,  directly or  indirectly,  as a result of or
                  arising out of the failure of any  representation  or warranty
                  made by the Purchaser in this Agreement to be true and

                                       26
<PAGE>

                  correct in all respects as of the date of this  Agreement  and
                  as of the Closing Date.

         8.3 Conditions of Indemnification.

         (a)      A   party   entitled   to   indemnification   hereunder   (the
                  "Indemnified  Party") shall notify the party or parties liable
                  for such  indemnification (the "Indemnified Party") in writing
                  of any Claim or potential  liability  for Taxes ("Tax  Claim")
                  which the Indemnified  Party has determined has given or could
                  give rise to a right of indemnification  under this Agreement.
                  Such notice shall be given  within a  reasonable  (taking into
                  account  the nature of the Claim or Tax Claim)  period of time
                  after the Indemnified Party has actual knowledge thereof.  The
                  Indemnifying  Party shall satisfy its  obligations  under this
                  Article  8 within  forty  days  after  receipt  of  subsequent
                  written  notice  from the  Indemnified  Party if an  amount is
                  specified therein, or promptly following receipt of subsequent
                  written notice or notices  specifying the amount of such Claim
                  or Tax Claim additions thereto; provided, however, that for so
                  long as the  Indemnifying  Party is in good faith  defending a
                  Claim or Tax Claim  pursuant  to Section  8.3(b)  hereof,  its
                  obligation  to indemnify  the  Indemnified  Party with respect
                  thereto  shall be  suspended  (other than with  respect to any
                  costs,   expenses  or  other   liabilities   incurred  by  the
                  Indemnified  Party prior to the  assumption  of the defense by
                  the Indemnifying Party).  Failure to provide a notice of Claim
                  or Tax Claim  within the time  period  referred to above shall
                  not  constitute  a defense  to a Claim or Tax Claim or release
                  the  Indemnifying  Party from any obligation  hereunder to the
                  extent that such  failure does not  prejudice  the position of
                  the Indemnifying Party.

         (b)      If the facts giving rise to any such  indemnification  involve
                  any  actual,  threatened  or  possible  Claim or demand or Tax
                  Claim by any person not a party to this Agreement  against the
                  Indemnified Party, the Indemnifying Party shall be entitled to
                  contest  or  defend  such  Claim or  demand  Tax  Claim at its
                  expense and through counsel of its own choosing, which counsel
                  shall be reasonably  acceptable to the Indemnified Party, such
                  right  to   contest   or  defend   shall  only  apply  if  the
                  Indemnifying  Party gave  written  notice of its  intention to
                  assume  the  contest  and  defense of such Claim or demand Tax
                  Claim to the Indemnified Party as soon as practicable,  but in
                  no event more than thirty days after  receipt of the notice of
                  Claims or Tax Claim,  and provided the Indemnified  Party with
                  appropriate  assurances  as to  the  creditworthiness  of  the
                  Indemnifying Party, and that the Indemnifying Party will be in
                  a position to pay all fees,  expenses and judgments that might
                  arise out of such Claim or demand Tax Claim.  The  Indemnified
                  Party shall have the obligation to cooperate in the defense of
                  any such Claim or demand  Tax Claim and the right,  at its own
                  expense,  to  participate  in the  defense of any Claim or Tax
                  Claim. So long as the Indemnifying  Party is defending in good
                  faith any such Claim or demand Tax Claim  asserted  by a third
                  party against the Indemnified  Party,  the  Indemnified  Party
                  shall not settle or compromise such Claim or demand Tax Claim.
                  The  Indemnifying  Party  shall  have the  right to  settle or

                                       27
<PAGE>

                  compromise  any such  Claim or demand  Tax Claim  without  the
                  consent of the Indemnified Party at any time utilizing its own
                  funds  to do  so if in  connection  with  such  settlement  or
                  compromise  the  Indemnified  Party is fully  released  by the
                  third  party and is paid in full any  indemnification  amounts
                  due hereunder.  The Indemnified  Party shall make available to
                  the  Indemnifying  Party or its agents all  records  and other
                  materials in the  Indemnified  Party's  possession  reasonably
                  required by it for its use in contesting any third party Claim
                  or demand  Tax Claim and  shall  otherwise  cooperate,  at the
                  expense of the  Indemnifying  Party, in the defense thereof in
                  such manner as the Indemnifying Party may reasonably  request.
                  Whether or not the  Indemnifying  Party  elects to defend such
                  Claim or demand Tax Claim, the Indemnified Party shall have no
                  obligation to do so.

         8.4 Limitations on Indemnification  for Breaches of Representations and
Warranties.   Notwithstanding  anything  contained  in  this  Agreement  to  the
contrary, (a) the individual liability of the Shareholders under Section 8.2 for
any liability arising as a result of the failure of Shareholders representations
and  warranties  to be true and  correct or arising for any other  reason  under
Section  8.2,  shall  not  exceed  the the  number  of  shares  received  by the
shareholder at Closing  multiplied by the price of the shares (NASDAQ:OTC BB) on
the day this  Agreement is signed (the  "Closing  Value") and (b) the  aggregate
liability of Purchaser  and its  affiliates  under Section 8.2 for any liability
arising as a result of the failure of Purchaser's representations and warranties
to be true and  correct,  shall not exceed  the  Closing  Value (the  "Purchaser
Cap").

         8.5 Payment of Indemnification Liabilities.

         (a)      Except as set forth in Section 8.5(b),  all payments of claims
                  to an  indemnified  party  may be  made by  wire  transfer  of
                  immediately  available funds within 10 business days after the
                  date of the  notice  of sums  due and  owing  provided  for in
                  Section 8.2, each  Shareholder or Purchaser may elect,  at its
                  option, to pay any claims to an indemnified party in shares of
                  Purchaser  Common Stock, and the number of shares of Purchaser
                  Common  Stock  to  be  transferred  in  satisfaction  of  such
                  liabilities,  and the terms of any such  satisfaction  of such
                  liabilities,  and the  terms  of any such  transfer,  shall be
                  determined as set forth in Section 8.5(b).

         (b)      In the event that  Purchaser or a  Shareholder,  in accordance
                  with  Section  8.5(a),  elects  or  is  required  to  pay  any
                  liabilities  owing by it in shares of Purchaser  Common Stock,
                  the  number of shares to be  transferred  with  respect to any
                  such  liability  shall be determined by dividing the amount of
                  such  liability by the  Applicable  Average  Share Value.  The
                  "Applicable Average Share Value" shall be equal to the average
                  of the Daily Closing  Prices for each of the ten business days
                  immediately  preceding the date of the notice  provided for in
                  Section 8.2; and the "Daily  Closing  Price" for each such day
                  shall be  average  of the last bid and ask price of  Purchaser
                  Common  Stock  quoted on such day on the  SmallCap  Market (or
                  such exchange or quotation  system as shall report the trading
                  prices of Purchaser Common Stock at the relevant time).

                                       28
<PAGE>

         (c)      Purchaser  covenants  and agrees that,  in the event it issues
                  any shares of Purchaser Common Stock to Shareholder in payment
                  of any claim of Shareholder  ("Additional  Shares") hereby, it
                  will take such  actions as may be  necessary  to assure  that,
                  upon  issuance,  such  Additional  Shares  (i)  will  be  duly
                  authorized,  validly issued, fully paid and non-assessable and
                  free of preemptive rights, and will be registered on the stock
                  certificate  books and stock  transfer  ledgers  of  Purchaser
                  solely in the name of  Shareholder  and (ii) will be  approved
                  for  quotation  on the  SmallCap  Market,  subject to official
                  notice  of  issuance.   Shareholder   will  receive  good  and
                  marketable  title to any Additional  Shares within 10 business
                  days after the date of the notice provided for in Section 8.2,
                  free and clear of any and all liens.

         (d)      Shareholder  covenants  and  agrees  that,  in  the  event  it
                  transfers any shares of Purchaser Common Stock to Purchaser in
                  payment of any claims hereunder ("Adjustment Shares"), it will
                  take such  actions as may be  reasonably  necessary  to assure
                  that,  upon such  transfer,  Seller  shall have  delivered  to
                  Purchaser good and marketable title to such Adjustment Shares,
                  free and clear of any and all  liens.  Any such  transfers  of
                  Adjustment  Shares will be made within 10 business  days after
                  the date of the notice provided for in Section 8.2.

                                    ARTICLE 9

                                  MISCELLANEOUS

         9.1 Knowledge of the Shareholders. Knowledge means, with respect to any
person, the actual or constructive  knowledge of such person and, in the case of
a corporation,  the actual or constructive  knowledge of its executive  officers
and directors.

         9.2  Expenses.  The parties  hereto shall pay all of their own expenses
relating to the transactions contemplated by this Agreement,  including, without
limitation,  the fees and  expenses of their  respective  counsel and  financial
advisers,  except for the fees of Oblon, Spivak,  McClelland,  Maier & Neustadt,
P.C.  which will be  reflected in the  liabilities  of the Company and which the
Company will pay from the funds  provided by the Purchaser  pursuant to the Loan
Agreement.

         9.3  Governing  Law.  The   interpretation  and  construction  of  this
Agreement, and all matters relating hereto, shall be governed by the laws of the
State of Delaware  applicable to agreements  executed and to be performed solely
within such State without regard to conflicts of laws.

         9.4 Jurisdiction.  Any judicial  proceeding  brought against any of the
parties to this  Agreement on any dispute  arising out of this  Agreement or any
matter  related hereto may be

                                       29
<PAGE>

brought in the courts of the State of New York, or in the United States District
Court for the Eastern or Southern  District of New York,  and, by execution  and
delivery of this  Agreement,  each of the parties to this Agreement  accepts the
exclusive jurisdiction of such courts, and irrevocably agrees to be bound by any
judgment  rendered  thereby in connection  with this  Agreement.  The prevailing
party or parties in any such  litigation  shall be entitled to receive  from the
losing party or parties all costs and  expenses,  including  reasonable  counsel
fees, incurred by the prevailing party or parties.

         9.5  Captions.  The  Article  and  Section  captions  used  herein  for
reference  purposes  only,  and  shall  not in any way  affect  the  meaning  or
interpretation of this Agreement.

         9.6 Publicity. Except as otherwise required by law, none of the parties
hereto shall issue any press release or make any other public statement, in each
case relating to, connected with or arising out of this Agreement or the matters
contained  herein,  without  obtaining  the prior  approval of Purchaser and the
Company to the contents and the manner of presentation and publication  thereof.
The parties  hereto  agree that the  execution  of this  Agreement  requires the
release of information to the financial press  concerning  this  acquisition and
accordingly  agree to promptly issue a press release mutually  acceptable to the
Company and the Purchaser.

         9.7 Notices.  Any notice or other  communication  required or permitted
hereunder  shall be deemed  sufficiently  given when  delivered  in person,  one
business day after delivery to a reputable overnight carrier, four business days
if delivered by registered or certified  mail,  postage  prepaid or when sent by
telecopy with a copy following by hand or overnight carrier or mailed, certified
or registered mail, postage prepaid, addressed as follows:

         If to the Purchaser:

                  Global iTechnology, Inc.
                  317 Madison Avenue, Suite 807
                  New York, NY  10017
                  Attn:  Lee Montellaro, CFO

         with a required copy to:

                  Sommer & Schneider LLP
                  595 Stewart Avenue, Suite 710
                  Garden City, NY  11530

         If to Shareholders:

                  John J. Byrne
                  1400 North 14th Street
                  Arlington, Virginia 22209

                                       30
<PAGE>

                  John J. Byrne, Jr.
                  1400 N. 14th Street
                  Arlington, VA  22209

                  Edwin Greene
                  1400 N. 14th Street
                  Arlington, VA  22209

                  Jonathan D. Greene
                  1400 N. 14th Street
                  Arlington, VA  22209

                  U.S. Check Company, Inc.
                  c/o John J. Byrne
                  1400 North 14th Street
                  Arlington, Virginia 22209

         The failure to give notice to one or more Shareholders shall not affect
the validity of notices otherwise properly given.

         9.8  Parties  in  Interest.  This  Agreement  may  not be  transferred,
assigned,  pledged or hypothecated by any party hereto,  other than by operation
of law. This  Agreement  shall be binding upon and shall inure to the benefit of
the  parties  hereto  and their  respective  heirs,  executors,  administrators,
successors and assigns.

         9.9  Counterparts.  This  Agreement  may be  executed  in  two or  more
counterparts  and  delivered  by  facsimile  all of which taken  together  shall
constitute one instrument.

         9.10 Entire Agreement.  This Agreement,  including the Schedules hereto
and the other documents referred to herein which form a part hereof, contain the
entire  understanding  of the parties  hereto with respect to the subject matter
contained herein and therein. This Agreement supersedes all prior agreements and
understandings between the parties with respect to such subject matter.

         9.11 Amendments.  This Agreement may not be changed orally, but only by
an  agreement  in writing  signed by Purchaser  and the  Shareholders  holding a
majority of the Company Shares.

         9.12  Severability.  In case any provision in this  Agreement  shall be
held   invalid,   illegal  or   unenforceable,   the   validity,   legality  and
enforceability  of the  remaining  provisions  hereof  will  not  in any  way be
affected or impaired thereby.

         9.13 Third Party  Beneficiaries.  Each party  hereto  intends that this
Agreement  shall not  benefit  or  create  any right or cause of action in or on
behalf of any Person other than the parties

                                       31
<PAGE>

hereof.

         9.14 Cooperation After Closing.From and after the Closing Date, each of
the parties  hereto shall execute such  documents and other papers and take such
further  actions as may be  reasonably  required or  desirable  to carry out the
provisions hereof and the transactions contemplated hereby.

                           [SIGNATURE PAGE TO FOLLOW]

                                       32
<PAGE>

         IN  WITNESS  WHEREOF,  each  of the  Purchaser  and  Shareholders  have
executed this Agreement, all as of the day and year first above written.

                                                PURCHASER:
                                                GLOBAL itechnology, inc.

                                                By: /s/ Lee R. Montellaro
                                                    ---------------------------
                                                Title:  Chief Financial Officer

                                                SHAREHOLDERS:

                                                /s/ John J. Byrne
                                                -----------------
                                                John J. Byrne

                                                /s/ Edwin B. Greene
                                                ---------------------
                                                Edwin B. Greene

                                                /s/ John J. Byrne, Jr.
                                                ----------------------
                                                John J. Byrne, Jr.

                                                /s/ Jonathan D. Greene
                                                ------------------------
                                                Jonathan D. Greene

                                                U.S. Check Co., Inc.

                                                By: /s/ Edwin B. Green
                                                   --------------------
                                                Title:   Chairman

                                       33August 11, 2000

Global iTechnology, Inc.
317 Madison Avenue, Suite 807
New York, NY  10017

         Re:      Loans

Gentlemen:

         You have asked that I loan Global iTechnology,  Inc. (the "Company") an
additional  $110,000.  I have  previously  loaned the Company  $125,000 which is
evidenced by one or more demand  promissory notes (the "Notes").  I hereby agree
to lend the Company the additional $110,000 provided,  the Company enters into a
Pledge,  Escrow and Security  Agreement,  pledging its ownership in  Certificate
Express,  inc. to secure  repayment of the total of $235,000  (the  "Loans") and
issues  22,000  three-year  warrants to me to purchase  shares of the  Company's
common stock for $.1875 per share. In addition,  I agree that the Loans will now
be represented by a single promissory note due August 10, 2001 or earlier in the
event of financing.

         If these terms are acceptable to you,  please sign and return a copy of
this letter to me.

                                               Very truly yours,

                                               Secured Lender

Accepted:

Global iTechnology, Inc.

By:  ______________________________
         Lee Montellaro, CFO

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