Document:

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                                                                    EXHIBIT 10.1

                        HANOVER COMPRESSOR CAPITAL TRUST

                    7 1/4% CONVERTIBLE PREFERRED SECURITIES
               Term Income Deferrable Equity Securities (TIDES)_
                          (liquidation amount $50 per
                               each of the TIDES)
                       guaranteed to the extent set forth
                       in the Guarantee Agreement by, and
                       convertible into Common Stock of,
                           Hanover Compressor Company

                         REGISTRATION RIGHTS AGREEMENT
                         -----------------------------

                                                               December 15, 1999

Credit Suisse First Boston Corporation
Goldman, Sachs & Co.
Salomon Smith Barney Inc.
Dain, Rauscher Incorporated
c/o Credit Suisse First Boston Corporation
Eleven Madison Avenue
New York, NY 10010-3629

Dear Sirs:
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     Hanover Compressor Capital Trust, a business trust formed under the laws of
the State of Delaware (the "Trust") by Hanover Compressor Company, a Delaware
corporation (the "Company"), proposes to issue and sell to you, as initial
purchasers (the "Purchasers"), upon the terms set forth in a purchase agreement
dated December 9, 1999 (the "Purchase Agreement"), among the Purchasers, the
Company and the Trust up to 1,725,000 7 1/4% Convertible Preferred Securities
Term Income Deferrable Equity Securities ("TIDES") (liquidation amount $50 per
each of the TIDES) (the "Initial Placement"). The proceeds of the sale by the
Trust of the TIDES and the Common Securities, liquidation amount $50 per Common
Security (the "Common Securities"), are to be invested in the Convertible Junior
Subordinated Debentures Due 2029 of the Company (the "Convertible Junior
Subordinated Debentures") having an aggregate principal amount equal to the
aggregate liquidation amount of the TIDES and the Common Securities.  The TIDES
are guaranteed by the Company to the extent set forth in the Guarantee Agreement
dated as of December 15, 1999 (the "Guarantee"), between the Company and
Wilmington Trust Company, as trustee, and are convertible into Common Stock, par
value $.001 per share (the "Common Stock") of the Company.  As an inducement to
you to enter into the Purchase Agreement and in satisfaction of a condition to
your obligations thereunder, the Trust and the Company agree with you, (i) for
your benefit and (ii) for the benefit of the registered holders from time to
time of the TIDES and the Convertible Junior Subordinated Debentures and the
record holders of the Common Stock of the Company issuable upon conversion of
the TIDES or the Convertible Junior Subordinated Debentures (collectively,
together with the Guarantee by the Company of the TIDES, the "Securities"),
including the Purchasers (each of the foregoing a "Holder" and together the
"Holders"), as follows:

     1.   Definitions. Capitalized terms used herein without definition shall
have their respective meanings set forth in or pursuant to the Purchase
Agreement or, if not defined therein, in the Confidential Offering Circular
dated December 9, 1999, in respect of the TIDES or, if not defined therein, in
the Amended and Restated Declaration of Trust dated as of December 15, 1999 (the
"Declaration") relating to the Trust. As used in this Agreement, the following
capitalized defined terms shall have the following meanings:

     "Act" or "Securities Act" means the Securities Act of 1933, as amended, and
the rules and regulations of the Commission promulgated thereunder.

     "Affiliate" of any specified person means any other person which, directly
or indirectly, is in control of, is controlled by, or is under common control
with, such specified person.  For purposes of this definition, control of a
person means the power, direct or indirect, to direct or cause the direction of
the management and policies of such person whether by contract or otherwise; the
terms "controlling" and "controlled" have meanings correlative to the foregoing.

     "Business Day" means any day other than (i) a Saturday or Sunday, (ii) a
day on which banking institutions in The City of New York or Wilmington,
Delaware are authorized or required by law or executive order to remain closed
or (iii) a day on which the corporate trust office of the Debenture Trustee or
the Property Trustee is closed for business.

     "Commission" means the Securities and Exchange Commission.

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     "Common Stock" has the meaning set forth in the first paragraph to this
Agreement.

     "Company" has the meaning set forth in the first paragraph to this
Agreement.

     "Convertible Junior Subordinated Debentures" has the meaning set forth in
the first paragraph to this Agreement.

     "Debenture Trustee", "Guarantee Trustee" and "Property Trustee" each means
Wilmington Trust Company, a Delaware banking corporation.

     "Electing Holder" has the meaning assigned thereto in Section 2(c)(iii)
hereof.

     "Exchange Act" means the Securities Exchange Act of 1934, as amended.

          "First Closing Date" has the meaning given such term in the Purchase
Agreement.

     "Guarantee" means the guarantee by the Company of the TIDES pursuant to a
Guarantee Agreement dated as of December 15, 1999 between the Company and the
Guarantee Trustee.

     "Holder" and "Holders" each has the meaning set forth in the first
paragraph to this Agreement.

     "Initial Placement" has the meaning set forth in the first paragraph to
this Agreement.

     "Managing Underwriters" means the investment banker or investment bankers
and manager or managers that shall administer an underwritten offering, if any,
as set forth in Section 6 hereof.

     "Prospectus" means the prospectus included in any Shelf Registration
Statement filed pursuant to Rule 415 under the Act, with respect to the terms of
the offering of all or any portion of the Securities covered by such Shelf
Registration Statement, as amended or supplemented by all amendments (including
post-effective amendments) and supplements to the Prospectus.

     "Purchase Agreement" has the meaning set forth in the first paragraph to
this Agreement.

     "Purchasers" has the meaning set forth in the first paragraph to this
Agreement.

     "Registration Default" has the meaning given to such term in Section 7(a)
hereof.

     "Securities" means the TIDES, the Convertible Junior Subordinated
Debentures, the Common Stock and the Guarantee, individually and collectively.

     "Shelf Registration" means a registration effected pursuant to Section 2
hereof.

     "Shelf Registration Period" has the meaning set forth in Section 2(b)
hereof.

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     "Shelf Registration Statement" means a "shelf" registration statement of
the Trust and the Company pursuant to the provisions of Section 2 hereof filed
with the Commission which covers some or all of the Securities, as applicable,
on an appropriate form under Rule 415 under the Act, or any similar rule that
may be adopted by the Commission, amendments and supplements to such
registration statement, including post-effective amendments, in each case
including the Prospectus contained therein, all exhibits thereto and all
material incorporated by reference therein.

     "Special Distributions" has the meaning given such term in Section 7(a)
hereof.

     "Special Interest" has the meaning given such term in Section 7(a) hereof.

     "TIDES" has the meaning set forth in the first paragraph to this Agreement.

     "Trust" has the meaning set forth in the first paragraph to this Agreement.

     "Trustee" means the Guarantee Trustee, the Indenture Trustee or the
Property Trustee, as applicable.

     "Underwriter" means any underwriter of Securities in connection with an
offering thereof under a Shelf Registration Statement.

     2.   Shelf Registration. (a)ab The Trust and the Company shall (i) file as
soon as practicable, but in no event more than 60 days after the First Closing
Date, a Shelf Registration covering resales of the TIDES, the Guarantee, the
Convertible Junior Subordinated Debentures and the related Company Common Stock
issuable upon conversion thereof and (ii) use their best efforts to cause the
Shelf Registration Statement to be declared effective under the Securities Act
within 150 days after the First Closing Date, provided, however, that no Holder
shall be entitled to be named as a selling securityholder in the Shelf
Registration Statement or to use the Prospectus forming a part thereof for
resales of Registrable Securities unless such holder is an Electing Holder.

          (1)    The Trust and the Company shall each use their best efforts (i)
to keep the Shelf Registration Statement continuously effective, subject to
Section 7(b) hereof, in order to permit the Prospectus forming part thereof to
be usable by Holders until resale of the Securities are permitted pursuant to
Rule 144(k) under the Securities Act or any successor rule or regulation thereto
after the date the Shelf Registration Statement is declared effective or such
shorter period that will terminate upon the earliest of the following: (A) two
years from the date of the effectiveness of the Shelf Registration Statement,
(B) when all the TIDES covered by the Shelf Registration Statement have been
sold pursuant to the Shelf Registration Statement, (C) when all Convertible
Junior Subordinated Debentures issued to Holders in respect of TIDES that had
not been sold pursuant to the Shelf Registration Statement have been sold
pursuant to the Shelf Registration Statement or (D) when all shares of Common
Stock issued upon conversion of any such TIDES or any such Convertible Junior
Subordinated Debentures that had not been sold pursuant to the Shelf
Registration Statement have been sold pursuant to the Shelf Registration
Statement (in any such case, such period being called the "Shelf Registration
Period") and (ii) after the effectiveness of the

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Shelf Registration Statement, promptly upon the request of any Holder that is
not then an Electing Holder to take any action reasonably necessary to register
the sale of any Securities of such Holder and to identify such Holder as a
selling securityholder, provided, however, that nothing in this subparagraph
shall relieve such Holder of the obligation to provide the Company and the Trust
with the information required pursuant to Section 2(c) hereof.

     (2)      (i) No Holder shall be entitled to be named as a selling
securityholder in the Shelf Registration Statement as of the date on which the
Commission declares the Shelf Registration Statement effective or on which the
Shelf Registration Statement otherwise becomes effective, and no Holder shall be
entitled to use the Prospectus forming a part thereof for resales of Registrable
Securities at any time, unless such holder has provided the Company and the
Trust with such information as they shall reasonably request in order to enable
the Company and the Trust to comply with the applicable requirements of the
Securities Act in connection with offers and sales by such Holder as a selling
securityholder in the Shelf Registration Statement within 30 calendar days from
the date on which any such request is first mailed to such Holder. Each Holder
as to which any Shelf Registration is being effected agrees to furnish promptly
to the Company all information required to be disclosed in order to make the
information previously furnished to the Company by such Holder not materially
misleading.

              (ii) After the date on which the Commission declares the Shelf
Registration Statement effective or on which the Shelf Registration Statement
otherwise becomes effective, the Company and the Trust may, upon the request of
any Holder of Registrable Securities that is not then an Electing Holder, take
such action as is necessary to name such Holder as a selling security holder in
the Shelf Registration Statement or to enable such Holder to use the Prospectus
forming a part thereof for resales of Registrable Securities if such Holder
promptly provides the Company and the Trust with such information as they shall
reasonably request in order to enable the Company and the Trust to comply with
the applicable requirements of the Securities Act in connection with offers and
sales by such Holder so as to permit such Holder to be so named. Each Holder as
to which any Shelf Registration is being effected agrees to furnish promptly to
the Company all information required to be disclosed in order to make the
information previously furnished to the Company by such Holder not materially
misleading.

          (iii)  The term "Electing Holder" shall mean any holder of
Registrable Securities that has complied with the requests of the Company and
the Trust in accordance with Section 2(c)(i) or 2(c)(ii) hereof.

     3.  Registration Procedures.  In connection with any Shelf Registration
Statement, the following provisions shall apply:

         (1)   The Trust and the Company shall furnish to each Purchaser,
prior to the filing thereof with the Commission, a copy of any Shelf
Registration Statement, and each amendment thereof and each amendment or
supplement, if any, to the Prospectus included therein and shall each use its
best efforts to reflect in each such document, when so filed with the
Commission, such comments as such Purchaser reasonably may propose.

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         (2)   The Trust and the Company shall take such action as may be
necessary, subject to Section 7(b) hereof, so that (i) any Shelf Registration
Statement and any amendment thereto and any Prospectus forming part thereof and
any amendment or supplement thereto (and each report or other document
incorporated therein by reference in each case) complies in all material
respects with the Securities Act and the Exchange Act and the respective rules
and regulations thereunder, (ii) any Shelf Registration Statement and any
amendment thereto does not, when it becomes effective, contain an untrue
statement of a material fact or omit to state a material fact required to be
stated therein or necessary to make the statements therein not misleading and
(iii) any Prospectus forming part of any Shelf Registration Statement, and any
amendment or supplement to such Prospectus, does not, during the Shelf
Registration Period, include an untrue statement of a material fact or omit to
state a material fact necessary in order to make the statements, in the light of
the circumstances under which they were made, not misleading.

         (3)   The Company shall advise each Purchaser and each Electing
     Holder and, if requested by such Purchaser or any such Electing Holder in
     writing, confirm such advice in writing:

                 (1)  when a Shelf Registration Statement and any amendment
thereto has been filed with the Commission and when the Shelf Registration
Statement or any post-effective amendment thereto has become effective; and

                 (2)  of any request by the Commission for amendments or
     supplements to the Shelf Registration Statement or the Prospectus included
     therein or for additional information.

          (2)  The Trust and the Company shall advise each Purchaser and each
     Electing Holder and, if requested by such Purchaser or any such Electing
     Holder in writing, confirm such advice in writing:

                 (3)  of the issuance by the Commission of any stop order
     suspending the effectiveness of the Shelf Registration Statement or the
     initiation of any proceedings for that purpose;

                 (4)  of the receipt by the Trust or the Company of any
     notification with respect to the suspension of the qualification of the
     securities included therein for sale in any jurisdiction or the initiation
     or threatening of any proceeding for such purpose; and

                 (5)  of the happening, during the Shelf Registration Period,
of any event (provided that such notice need not specify the nature of such
event) that requires the making of any changes in the Shelf Registration
Statement or the Prospectus so that, as of such date, the Registration Statement
and the Prospectus do not contain an untrue statement of a material fact and do
not omit to state a material fact required to be stated therein or necessary to
make the statements therein (in the case of the Prospectus, in light of the
circumstances under which they were made) not misleading (which advice shall be

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accompanied by an instruction to suspend the use of the Prospectus until the
requisite changes have been made).

                (3) Written notice pursuant to Section 3(c)(1)(ii) and Section
3(c)(2)(i)-(iii) shall be accompanied by an instruction to suspend the use of
the prospectus until the requisite changes have been made.

         (4)   The Trust and the Company shall use their reasonable best
efforts to prevent the issuance, and if issued to obtain the withdrawal, of any
order suspending the effectiveness of any Shelf Registration Statement at the
earliest possible time.

         (5)   The Trust and the Company shall furnish to each Electing Holder
of Securities, without charge, at least one copy of such Shelf Registration
Statement and any post-effective amendment thereto (including any reports or
other documents incorporated therein by reference), including financial
statements and schedules, and, if the Electing Holder so requests in writing,
all exhibits thereto (including those incorporated by reference).

         (6)   The Trust and the Company shall, during the Shelf Registration
Period, deliver to each Electing Holder, without charge, as many copies of the
Prospectus (including each preliminary Prospectus) included in such Shelf
Registration Statement and any amendment or supplement thereto as such Electing
Holder may reasonably request and shall deliver such materials to the New York
Stock Exchange pursuant to Rule 153 under the Act; and each of the Trust and the
Company consents to the use of the Prospectus or any amendment or supplement
thereto by each of the Electing Holders in connection with the offering and sale
of the Securities covered by the Prospectus or any amendment or supplement
thereto during the Shelf Registration Period.

         (7)   Prior to any offering of Securities pursuant to any Shelf
Registration Statement, the Trust and the Company shall register or qualify or
cooperate with the Electing Holders and their respective counsel in connection
with the registration or qualification of such Securities for offer and sale
under the securities or blue sky laws of such jurisdictions as any such Electing
Holders reasonably request in writing and do any and all other acts or things
necessary or advisable to enable the offer and sale in such jurisdictions of the
Securities covered by such Shelf Registration Statement; provided, however, that
neither the Trust nor the Company will be required to qualify generally to do
business in any jurisdiction where it is not then so qualified or to take any
action which would subject it to general service of process or to taxation in
any such jurisdiction where it is not then so subject.

          (8)  Unless the applicable Securities shall be in book-entry only
form, the Trust and the Company shall cooperate with the Electing Holders to
facilitate the timely preparation and delivery of certificates representing
Securities to be sold pursuant to any Shelf Registration Statement free of any
restrictive legends and in such permitted denominations and registered in such
names as Electing Holders may request in connection the sale of Securities
pursuant to such Shelf Registration Statement.

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         (9)   Upon the occurrence of any event contemplated by Section
3(c)(1)(ii) or 3(c)(2)(i) above, the Trust and the Company shall promptly
prepare, subject to Section 7(b) hereof, as soon as possible a post-effective
amendment to any Shelf Registration Statement or an amendment or supplement to
the related Prospectus or file any other required document so that, as
thereafter delivered to purchasers of the Securities included therein, the
Prospectus will not include an untrue statement of a material fact or omit to
state any material fact necessary to make the statements therein, in the light
of the circumstances under which they were made, not misleading. If the Trust or
the Company notifies the Electing Holders in accordance with Section 3(c)(3)
above to suspend use of the prospectus until the requisite changes to the
Prospectus have been made, then the Electing Holders shall suspend the use of
the Prospectus until the requisite changes to the Prospectus have been made, and
the period of effectiveness of the Shelf Registration Statement provided for in
Section 2(b) above shall each be extended by the number of days from and
including the date of the giving of such notice to and including the date when
the Purchaser and the Electing Holders of the Securities shall have received
such amended or supplemented prospectus pursuant to this Section 3(i).

         (10)  Not later than the effective date of any Shelf Registration
Statement hereunder, the Trust and the Company shall provide a CUSIP number for
the TIDES and, in the event of and at the time of any distribution thereof to
Holders, the Convertible Junior Subordinated Debentures, registered under such
Shelf Registration Statement, and provide the applicable Trustee with
certificates for such Securities, in a form eligible for deposit with The
Depository Trust Company.

         (11)  The Trust and the Company shall comply with all applicable
rules and regulations of the Commission and shall make generally available to
their securityholders (or otherwise provide in accordance with Section 11(a) of
the Securities Act) an earnings statement satisfying the provisions of Section
11(a) of the Securities Act, no later than 45 days after the end of a 12-month
period (or 90 days, if such period is a fiscal year) beginning with the first
month of the Company's first quarter commencing after the effective date of the
Registration Statement, which statement shall cover such 12-month period.

         (l2)  The Trust and the Company shall cause the Indenture, the
Declaration and the Guarantee to be qualified under the Trust Indenture Act in a
timely manner and containing such changes, if any, as shall be necessary for
such qualification. In the event that such qualification would require the
appointment of a new trustee under the Indenture, the Company shall appoint a
new trustee thereunder pursuant to the applicable provisions of the Indenture.

         (13)  The Trust and the Company may require each Electing Holder to
furnish to the Trust and the Company such information regarding the Electing
Holder and the distribution of such Securities as the Trust and the Company may
from time to time reasonably require for inclusion in such Shelf Registration
Statement, and the Trust and the Company may exclude from such registration the
Securities of any Electing Holder that

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unreasonably fails to furnish such information within a reasonable time after
receiving such request.

         (14)  The Trust and the Company shall, if requested, promptly
incorporate in a Prospectus supplement or post-effective amendment to a Shelf
Registration Statement, such information as the Managing Underwriters reasonably
agree should be included therein and to which the Trust and the Company do not
reasonably object and shall make all required filings of such Prospectus
supplement or post-effective amendment as soon as practicable after they are
notified of the matters to be incorporated in such Prospectus supplement or
post-effective amendment; provided, however, that the Company shall not be
obligated to arrange for more than one underwritten offering during the Shelf
Registration Period as set forth in Section 6 hereof .

         (15)  The Trust and the Company shall enter into such customary
agreements (including underwriting agreements in customary form) to take all
other appropriate actions in order to expedite or facilitate the registration or
the disposition of the Securities, and in connection therewith, if an
underwriting agreement is entered into, cause the same to contain
indemnification provisions and procedures substantially identical to those set
forth in Section 5 (or such other provisions and procedures acceptable to the
Managing Underwriters, if any) with respect to all parties to be indemnified
pursuant to Section 5.

         (16)  The Trust and the Company shall (i) make reasonably available for
inspection by the Electing Holders, any underwriter participating in any
disposition pursuant to such Shelf Registration Statement, and any attorney,
accountant or other agent retained by such Electing Holders or any such
underwriter all relevant financial and other records, pertinent corporate
documents and properties of the Trust and the Company and its subsidiaries as
shall be requested in connection with the discharge of their due diligence
obligations; (ii) cause the Company's officers, directors and employees and any
relevant Trustees to supply at the Company's expense all relevant information
reasonably requested by such Electing Holders or any such underwriter, attorney,
accountant or agent in connection with any such Shelf Registration Statement, in
each case, as shall be reasonably necessary to enable such persons to conduct a
reasonable investigation within the meaning of Section 11 of the Securities Act;
provided, however, that the foregoing inspection and information gathering
shall, to the greatest extent possible, be coordinated on behalf of the Electing
Holders and the other parties entitled thereto by one counsel designated by and
on behalf of such Electing Holders and other parties; (iii) in connection with
an underwritten offering conducted pursuant to Section 6 hereof, make such
representations and warranties to the Electing Holders participating in such
underwritten offering and the underwriters in form, substance and scope as are
customarily made by the issuers to underwriters in primary underwritten
offerings and covering matters as are customarily covered in representations and
warranties requested in primary underwritten offerings including, but not
limited to, those set forth in the Purchase Agreement; (iv) in connection with
an underwritten offering conducted pursuant to Section 6 hereof, obtain opinions
of counsel to the Trust and the

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Company and updates thereof (which counsel and opinions (in form, scope and
substance) shall be reasonably satisfactory to the Managing Underwriters)
addressed to each Electing Holder participating in such offering and the
underwriters, if any, covering such matters and with such exceptions as are
customarily covered or taken in opinions requested in underwritten offerings and
such other matters as may be reasonably requested by such Electing Holders and
underwriters (it being agreed that the matters to be covered by such opinion
shall include, without limitation, as of the date of the opinion and as of the
effective date of the Shelf Registration Statement or most recent post-effective
amendment thereto, as the case may be, a statement by such counsel regarding the
absence from such Shelf Registration Statement and the prospectus included
therein, as then amended or supplemented, including the documents incorporated
by reference therein, of an untrue statement of a material fact or the omission
to state therein a material fact required to be stated therein or necessary to
make the statements therein not misleading); (v) in connection with an
underwritten offering conducted pursuant to Section 6 hereof, obtain "cold
comfort" letters and updates thereof from the independent certified public
accountants of the Company (and, if necessary, any other independent certified
public accountants of any subsidiary of the Company or of any business acquired
by the Company for which financial statements and financial data are, or are
required to be, included in the Shelf Registration Statement), addressed to each
Electing Holder participating in such underwritten offering and the
underwriters, if any, in customary form and covering matters of the type
customarily covered in "cold comfort" letters in connection with primary
underwritten offerings in accordance with Statement of Auditing Standards No.
72; and (vi) in connection with an underwritten offering conducted pursuant to
Section 6 hereof, deliver such documents and certificates as may be reasonably
requested by the Managing Underwriters, if any, including those to evidence
compliance with Section 3(i) and with any customary conditions contained in the
underwriting agreement or other agreement entered into by the Trust and the
Company. The foregoing actions set forth in clauses (iii), (iv), (v) and (vi) of
this Section 3(p) shall be performed at (A) with respect to clauses (ii) and (v)
only, the execution of an underwriting agreement and (B) each closing under any
underwritten offering to the extent required under any related underwriting or
similar agreement.

         (17)  The Trust and the Company will use their best efforts to cause
the Common Stock relating to such Shelf Registration Statement to be listed on
each securities exchange, over-the-counter market, or respective counterpart if
any, on which any shares of Common Stock are then listed.

         (18)  The Trust and the Company shall, in the event that any broker-
dealer registered under the Exchange Act shall underwrite any Securities or
participate as a member of an underwriting syndicate or selling group or "assist
in the distribution" (within the meaning of the Rules of Fair Practice (the
"Rules") and the By-Laws of the National Association of Securities Dealers, Inc.
("NASD")) thereof, whether as a Holder of such Securities or as an underwriter,
a placement or sales agent or a broker or dealer in respect thereof, or
otherwise, assist such broker-dealer in complying with the requirements of such

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Rules and By-Laws, including, without limitation, by (A) if such Rules or By-
Laws, including Schedule E thereto, shall so require, engaging a "qualified
independent underwriter" (as defined in such Schedule) to participate in the
preparation of the Shelf Registration Statement relating to such Securities, to
exercise usual standards of due diligence in respect thereto, (B) indemnifying
any such qualified independent underwriter to the extent of the indemnification
of underwriters provided in Section 5 hereof and (C) providing such information
to such broker-dealer as may be required in order for such broker-dealer to
comply with the requirements of the Rules of Fair Practice of the NASD.

         (19)  The Company will use its best efforts to (a) if the Securities
have been rated prior to the initial sale of such Securities, confirm such
ratings will apply to the Securities covered by the Shelf Registration
Statement, or (b) if the Securities were not previously rated, cause the
Securities covered by the Shelf Registration Statement to be rated with the
appropriate rating agencies, if so requested by Electing Holders of a majority
in aggregate principal amount of Securities covered by such Shelf Registration
Statement, or by the managing underwriters, if any.

         (20)  The Trust and the Company shall use their best efforts to take
all other steps necessary to effect the registration, offering and sale of the
Securities covered by the Shelf Registration Statement contemplated hereby.

     4.  Registration Expenses.  Except as otherwise provided in Section 6, the
Company shall bear all fees and expenses incurred in connection with the
performance of the obligations of the Company and the Trust under Sections 2 and
3 hereof and shall bear or reimburse the Purchasers for the reasonable fees and
disbursements of not more than one counsel for the Purchasers, which shall be
Vinson & Elkins, L.L.P. unless another firm shall be chosen by the Holders of a
majority in principal amount of Securities in connection with the filing of the
Shelf Registration Statement.

     5.  Indemnification and Contribution.  (a)  In connection with any Shelf
Registration Statement, the Trust and the Company, jointly and severally, agree
to indemnify and hold harmless  each Electing Holder and each person who
controls any such Electing Holder within the meaning of either the Securities
Act or the Exchange Act against any and all losses, claims, damages or
liabilities, joint or several, to which they or any of them may become subject
under the Securities Act, the Exchange Act or other Federal or state statutory
law or regulation, at common law or otherwise, insofar as such losses, claims,
damages or liabilities (or actions in respect thereof) arise out of or are based
upon any untrue statement or alleged untrue statement of a material fact
contained in the Shelf Registration Statement as originally filed or in any
amendment thereof, or in any preliminary prospectus or Prospectus, or in any
amendment thereof or supplement thereto, or arise out of or are based upon the
omission or alleged omission to state therein a material fact required to be
stated therein or necessary to make the statements therein not misleading, and
agree to reimburse each such indemnified party, as incurred, for any legal or
other expenses reasonably incurred by them in connection with investigating or
defending any such loss, claim, damage, liability

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or action; provided, however, that (i) the Company and the Trust will not be
liable in any case to the extent that any such loss, claim, damage or liability
arises out of or is based upon any such untrue statement or alleged untrue
statement or omission or alleged omission made therein in reliance upon and in
conformity with written information furnished to the Company by or on behalf any
such Electing Holder specifically for inclusion therein and, provided, further,
that with respect to any untrue statement or alleged untrue statement in or
omission or alleged omission from any preliminary prospectus, the indemnity
agreement contained in this subsection (a) shall not inure to the benefit of any
Electing Holder or person who controls any such Electing Holder from whom the
person asserting any such losses, claims, damages or liabilities purchased the
Securities concerned, to the extent that a prospectus relating to such
Securities was required to be delivered by such Electing Holder under the Act in
connection with such purchase and any such loss, claim, damage or liability of
such Electing Holder results from the fact that there was not sent or given to
such person, at or prior to the written confirmation of the sale of such
Securities to such person, a copy of the Prospectus if the Company has
previously furnished such quantity of copies thereof to such Electing Holder.
This indemnity agreement will be in addition to any liability which the Company
or the Trust may otherwise have. The Trust and the Company, jointly and
severally, also agree to indemnify or contribute to Losses (as defined below)
of, as provided in Section 5(d), any underwriters of Securities registered under
the Shelf Registration Statement, their officers, directors, employees and
agents and each person who controls such underwriters on substantially the same
basis as that of the indemnification of the Electing Holders provided in this
Section 5(a) and shall, if requested by any Electing Holder, enter into an
underwriting agreement reflecting such agreement, as provided in Section 3(o)
and Section 6 hereof.

         (b)  Each Electing Holder, severally and not jointly, agrees as a
consequence of the inclusion of any of such Holder's Registrable Securities in
such Shelf Registration Statement, and each underwriter executing an
underwriting agreement, if any, which facilitates the disposition of Registrable
Securities shall agree, as a consequence of facilitating such disposition of
Registrable Securities, severally and not jointly, to indemnify and hold
harmless (i) the Trust and the Company, (ii) each of the directors of the
Company, (iii) each of its officers and any Administrative Trustee who signs
such Shelf Registration Statement and (iv) each person who controls the Trust or
the Company within the meaning of either the Securities Act or the Exchange Act
to the same extent as the foregoing indemnity from the Trust and the Company,
but only with reference to written information relating to such Electing Holder
or underwriter executing an underwriting agreement furnished to the Company by
or on behalf of such Electing Holder or underwriter executing an underwriting
agreement specifically for inclusion in the documents referred to in the
foregoing indemnity; and shall reimburse, as incurred, the Company and the Trust
for any legal or other expenses reasonably incurred by the Company or the Trust
or any such controlling person in connection with investigating or defending any
loss, claim, damage, liability or action in respect thereof.  This indemnity
agreement will be in addition to any

                                       12
<PAGE>

liability which any such Electing Holder or underwriter executing an
underwriting agreement may otherwise have.

         (c)  Promptly after receipt by an indemnified party under this Section
5 of notice of the commencement of any action or proceeding (including a
governmental investigation), such indemnified party will, if a claim in respect
thereof is to be made against the indemnifying party under this Section 5,
notify the indemnifying party of the commencement thereof; but the omission so
to notify the indemnifying party will not relieve the indemnifying party from
any liability it may have to any indemnified party otherwise than under
paragraph (a) or (b) above, except to the extent such failure prejudices the
indemnified person. In case any such action is brought against any indemnified
party and it notifies the indemnifying party of the commencement thereof, the
indemnifying party will be entitled to participate therein and, to the extent
that it may wish, jointly with any other indemnifying party similarly notified,
to assume the defense thereof, with counsel satisfactory to such indemnified
party (who shall not, except with the consent of such indemnified party, be
counsel to the indemnifying party), and after notice from the indemnifying party
to such indemnified party of its election so to assume the defense thereof, the
indemnifying party will not be liable to such indemnified party under this
Section 5 for any legal or other expenses subsequently incurred by such
indemnified party in connection with the defense thereof other than reasonable
costs of investigation. No indemnifying party shall, without the prior written
consent of the indemnified party, effect any settlement of any pending or
threatened action in respect of which any indemnified party is or could have
been a party and indemnity could have been sought hereunder by such indemnified
party unless such settlement includes an unconditional release of such
indemnified party from all liability on any claims that are the subject matter
of such action, and does not include a statement as to or an admission of fault,
culpability or a failure to act by or on behalf of any indemnified party.

         (d)  In the event that the indemnity provided in paragraph (a) or (b)
of this Section 5 is unavailable to or insufficient to hold harmless an
indemnified party for any reason, then each applicable indemnifying party, in
lieu of indemnifying such indemnified party, shall have a joint and several
obligation to contribute to the aggregate losses, claims, damages and
liabilities (including legal or other expenses reasonably incurred in connection
with investigating or defending same) (collectively "Losses") to which such
indemnified party may be subject in such proportion as is appropriate to reflect
the relative benefits received by such indemnifying party, on the one hand, and
such indemnified party, on the other hand, from the Initial Placement and the
Shelf Registration Statement which resulted in such Losses; provided, however,
that in no case shall the Purchasers or any subsequent Holder of any Securities
be responsible, in the aggregate, for any amount in excess of the amount by
which the net proceeds received by such Holders from the sale of the Securities
pursuant to the Registration Statement exceeds the amount of damages which such
Holders have otherwise been required to pay by reason of such untrue or alleged
untrue statement or omission or alleged omission. If the allocation provided by
the immediately

                                       13
<PAGE>

preceding sentence is unavailable for any reason, the indemnifying party and the
indemnified party shall contribute in such proportion as is appropriate to
reflect not only such relative benefits but also the relative fault of such
indemnifying party, on the one hand, and such indemnified party, on the other
hand, in connection with the statements or omissions which resulted in such
Losses as well as any other relevant equitable considerations. Relative fault
shall be determined by reference to whether any alleged untrue statement or
omission relates to information provided by the indemnifying party, on the one
hand, or by the indemnified party, on the other hand. The parties agree that it
would not be just and equitable if contribution were determined by pro rata
allocation or any other method of allocation which does not take account of the
equitable considerations referred to above. Notwithstanding the provisions of
this paragraph (d), no person guilty of fraudulent misrepresentation (within the
meaning of Section 11(f) of the Securities Act) shall be entitled to
contribution from any person who was not guilty of such fraudulent
misrepresentation. The amount paid by an indemnified party as a result of the
losses, claims, damages or liabilities referred to in the first sentence of this
subsection (d) shall be deemed to include any legal or other expenses reasonably
incurred by such indemnified party in connection with investigating or defending
any action or claim which is the subject of this subsection (d). For purposes of
this Section 5, each person who controls a Holder within the meaning of either
the Securities Act or the Exchange Act shall have the same rights to
contribution as such Holder, and each person who controls the Company or the
Trust within the meaning of either the Securities Act or the Exchange Act, each
officer of the Company who shall have signed the Shelf Registration Statement
and each director of the Company shall have the same rights to contribution as
the Company, subject in each case to the applicable terms and conditions of this
paragraph (d).

         (e)  The provisions of this Section 5 will remain in full force and
effect, regardless of any investigation made by or on behalf of any Holder or
the Company or the Trust or any of the officers, directors, employees, agents or
controlling persons referred to in Section 5 hereof, and will survive the sale
by a Holder of Securities covered by the Shelf Registration Statement. The
obligations of the Trust and the Company under this Section shall be in addition
to any liability which the Trust and the Company may otherwise have.

     6.   Underwritten Offering. The Holders of Securities covered by the Shelf
Registration Statement who desire to do so may sell such Securities in an
underwritten offering. In any such underwritten offering, the investment banker
or bankers and manager or managers that will administer the offering will be
selected by, and the underwriting arrangements with respect thereto will be
approved by, the Holders of a majority of the Securities to be included in such
offering; provided, however, that (i) such investment bankers and managers and
underwriting arrangements must be reasonably satisfactory to the Company and the
Trust and (ii) the Company shall not be obligated to arrange for more than one
underwritten offering during the Shelf Registration Period. No Holder may
participate in any underwritten offering contemplated hereby unless such Holder
(a) agrees to sell such

                                       14
<PAGE>

Holder's Securities in accordance with any approved underwriting arrangements,
(b) completes and executes all reasonable questionnaires, powers of attorney,
indemnities, underwriting agreements, lock-up letters and other documents
required under the terms of such approved underwriting arrangements, (c) at
least 30% of the outstanding Securities are included in such underwritten
offering, and (d) if such Holder is not then an Electing Holder, such Holder
provides the Company and the Trust with such information as they shall
reasonably request in order to enable the Company and the Trust to comply with
the applicable requirements of the Securities Act in connection with offers and
sales by such Holder as a selling securityholder in the underwritten offering
within a reasonable amount of time before such underwritten offering. The
Holders participating in any underwritten offering shall be responsible for any
expenses customarily borne by selling securityholders, including underwriting
discounts and commissions and fees and expenses of counsel to the selling
securityholders.

     7.  Special Interest and Special Distributions Under Certain Circumstances.
If (i) within 150 days of the First Closing Date the Shelf Registration
Statement has not been declared effective by the Commission, or (ii) in the
event that a Shelf Registration Statement is declared effective by the
Commission, the Company or the Trust fails to keep such Shelf Registration
Statement continuously effective and usable (except as permitted in paragraph
(b) of this Section 7) prior to the end of the Shelf Registration Period (each
such event referred to in clauses (i) and (ii) a "Registration Default"), then
additional interest ("Special Interest") will accrue on the Convertible Junior
Subordinated Debentures (including in respect of amounts accruing during any
Deferral Period), and corresponding additional distributions (the "Special
Distributions") will accrue on the TIDES and the Common Securities, in each case
from and including the day following such Registration Default to but excluding
the day on which such Registration Default has been cured or has been deemed to
have been cured.  Subject to the deferral of interest provisions of the
Convertible Junior Subordinated Debentures and the deferral of distributions
provisions of the TIDES, Special Interest and Special Distributions will be paid
in cash quarterly in arrears on March 15, June 15, September 15 and December 15
commencing with the first such date following the applicable Registration
Default and will accrue at a rate such that the interest rate or distribution
rate, as the case may be, will be increased 0.50% per annum of the principal
amount or liquidation amount, as applicable.  Following the cure of a
Registration Default, Special Interest and Special Distributions will cease to
accrue with respect to such Registration Default.

         (3)  A Registration Default referred to in Section 7(a)(ii) shall be
deemed not to have occurred and be continuing in relation to the Shelf
Registration Statement or the related Prospectus if such Registration Default
has occurred solely as a result of (x) the filing of a post-effective amendment
to such Shelf Registration Statement to incorporate annual audited financial
information with respect to the Company where such post-effective amendment is
not yet effective and needs to be declared effective to permit Holders to use
the related Prospectus or (y) the occurrence of other material events or
developments with

                                       15
<PAGE>

respect to the Trust or the Company that would need to be described in such
Registration Statement or the related Prospectus and either (i) the Company
shall have determined in good faith that such disclosure is not in the best
interests of the Company and its stockholders or (ii) the Trust and the Company
are proceeding promptly and in good faith to amend or supplement such
Registration Statement and related Prospectus to describe such events; provided,
however, that in any case, if such Registration Default occurs for a continuous
period in excess of 45 days, Special Interest and Special Distributions shall be
payable in accordance with the above paragraph from the first day of such 45-day
period until the date on which such Registration Default is cured.

     8.  Rules 144 and 144A.  The Company shall use its best efforts to file the
reports required to be filed by it under the Securities Act and the Exchange Act
in a timely manner and, if at any time the Company is not required to file such
reports, it will, within a reasonable period of time, upon written request of
any Holder of Securities, make publicly available other information so long as
necessary to permit sales of their securities pursuant to Rules 144 and 144A.
The Company covenants that it will take such further action as any Holder of
Securities may reasonably request, all to the extent required from time to time
to enable such Holder to sell Securities without registration under the
Securities Act within the limitation of the exemptions provided by Rules 144 and
144A (including the requirements of Rule 144A(d)(4)).  The Company will provide
a copy of this Agreement to prospective purchasers of Securities identified to
the Company by any Purchaser upon request.  Upon the request of any Holder of
Securities, the Company shall deliver to such Holder a written statement as to
whether it has complied with such requirements.  Notwithstanding the foregoing,
nothing in this Section 8 shall be deemed to require the Company to register any
of its securities pursuant to the Exchange Act.

     9.   Miscellaneous.

         (3)  No Inconsistent Agreements. The Trust and the Company have not, as
of the date hereof, entered into, nor shall they on or after the date hereof,
enter into, any agreement with respect to their securities or otherwise that is
inconsistent with the rights granted to the Holders herein or otherwise
conflicts with the provisions hereof.

         (4)  Amendments and Waivers. The provisions of this Agreement,
including the provisions of this sentence, may not be amended, qualified,
modified or supplemented, and waivers or consents to departures from the
provisions hereof may not be given, unless the Trust and the Company have
obtained the written consent of the Credit Suisse First Boston Corporation.

                                      16
<PAGE>

         (5)  Notices. All notices and other communications provided for or
permitted hereunder shall be made in writing by hand-delivery, first-class mail,
telex, telecopier, or air courier guaranteeing overnight delivery:

         (1)  if to a Holder, at the most current address given by such Holder
to the Company in accordance with the provisions of this Section 7(c), which
address initially is, with respect to each Holder, the address of such Holder
maintained by the Registrar under the Indenture;

         (2)   if to the Purchasers, initially at the address set forth in the
Purchase Agreement; and

         (3)   if to the Trust or the Company, initially at its address set
forth in the Purchase Agreement.

     All such notices and communications shall be deemed to have been duly
given: at the time delivered by hand, if personally delivered; three business
days after being deposited in the mail, postage prepaid, if mailed; when receipt
is acknowledged by recipient's facsimile machine operator, if sent by facsimile
transmission; and on the day delivered, if sent by overnight air courier
guaranteeing next day delivery.

     The Purchaser or the Trust and the Company by notice to the other may
designate additional or different addresses for subsequent notices or
communications.

         (6)  Successors and Assigns. This Agreement shall inure to the benefit
of and be binding upon the successors and assigns of each of the parties and the
Holders, including, without the need for an express assignment or any consent by
the Trust or the Company thereto, subsequent Holders of Securities. The Trust
and the Company hereby agree to extend the benefits of this Agreement to any
Holder of Securities and any such Holder may specifically enforce the provisions
of this Agreement as if an original party hereto.

         (7)  Counterparts. This agreement may be executed in any number of
counterparts and by the parties hereto in separate counterparts, each of which
when so executed shall be deemed to be an original and all of which taken
together shall constitute one and the same agreement.

         (8)  Headings. The headings in this agreement are for convenience of
reference only and shall not limit or otherwise affect the meaning hereof.

         (9)  Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED
IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO
PRINCIPLES THEREOF REGARDING CONFLICTS OF LAWS.

                                       17
<PAGE>

         (10)  Severability. In the event that any one of more of the provisions
contained herein, or the application thereof in any circumstances, is held
invalid, illegal or unenforceable in any respect for any reason, the validity,
legality and enforceability of any such provision in every other respect and of
the remaining provisions hereof shall not be in any way impaired or affected
thereby, it being intended that all of the rights and privileges of the parties
shall be enforceable to the fullest extent permitted by law.

         (11)  Third Party Beneficiaries. The Holders shall be third party
beneficiaries to the agreements made hereunder between the Company and the
Trust, on the one hand, and the Purchasers, on the other hand, and the Holders
shall have the right to enforce such agreements directly to the extent they may
deem such enforcement necessary or advisable to protect their rights or the
rights of Holders hereunder.

         (12)  Securities Held by the Company. Whenever the consent or approval
of Holders of a specified percentage of principal amount of Securities is
required hereunder, Securities held by the Company or its affiliates (other than
subsequent Holders of Securities if such subsequent Holders are deemed to be
affiliates solely by reason of their holdings of such Securities) shall not be
counted in determining whether such consent or approval was given by the Holders
of such required percentage.

               [Remainder of this Page Intentionally Left Blank]

                                       18
<PAGE>

     If the foregoing is in accordance with your understanding of our agreement,
please sign and return to the Company a counterpart hereof, whereupon this
instrument, along with all counterparts, will become a binding agreement among
the Purchasers, the Trust and the Company in accordance with its terms.

                                    Very truly yours,

                                    HANOVER COMPRESSOR CAPITAL
                                       TRUST

    By: _______________________________________________________________
                                       Name:  Curtis A. Bedrich
                                       Title: Administrative Trustee

                                    HANOVER COMPRESSOR COMPANY

                                    By:________________________________
                                       Name:  Curtis A. Bedrich
                                       Title: Chief Financial Officer and
                                                Treasurer

The foregoing Registration Rights
    Agreement is hereby confirmed
    and accepted as of the date first above
    written.

              CREDIT SUISSE FIRST BOSTON CORPORATION
              GOLDMAN, SACHS & CO.
              SALOMON SMITH BARNEY INC.
              DAIN RAUSCHER INCORPORATED

              By:  CREDIT SUISSE FIRST BOSTON CORPORATION

     Acting on behalf of itself and as
     the representative of the several
     Purchasers

By:___________________________________________________________________
   Name:  Osmar Abib
   Title: Managing Director

                                       19<PAGE>

                                                                    EXHIBIT 10.1

================================================================================

                           ASSET PURCHASE AGREEMENT

                                 BY AND AMONG

                  FREECALLER COMMUNICATIONS CORPORATION F/K/A
                          INTELESIS ACQUISITION CORP.
                                     BUYER

                           THE INTELESIS GROUP, INC.
                                    SELLER

                     FREECALLER COMMUNICATIONS CORPORATION
                                   ASSIGNOR

                               OCTOBER 29, 1999

================================================================================
<PAGE>

                               TABLE OF CONTENTS
                                                                            Page
                                   ARTICLE 1
                         DEFINITIONS AND CONSTRUCTION
       1.1   DEFINITIONS OF CERTAIN TERMS....................................  5
       1.2   CONSTRUCTION....................................................  8
                                   ARTICLE 2
                          PURCHASE AND SALE OF ASSETS
       2.1   TRANSFERRED ASSETS..............................................  8
       2.2   EXCLUDED ASSETS.................................................  9
       2.3   CLOSING.........................................................  9
       2.4   TRANSFER DOCUMENTS..............................................  9
       2.5   PURCHASE PRICE FOR THE ASSETS................................... 10
       2.6   LIABILITIES NOT ASSUMED BY THE BUYER............................ 10
       2.7   TRANSFER TAXES; RECORDING FEES.................................. 11
                                   ARTICLE 3
                        REPRESENTATIONS AND WARRANTIES
                                 OF THE SELLER
       3.1   CORPORATE MATTERS............................................... 11
       3.2   VALIDITY OF AGREEMENT & CONFLICT W/ OTHER INSTRUMENTS........... 11
       3.3   APPROVALS, LICENSES AND AUTHORIZATIONS.......................... 12
       3.4   TITLE TO AND CONDITION OF PROPERTIES............................ 13
       3.5   CONTRACTS AND COMMITMENTS ...................................... 13
       3.6   CONDITION OF ASSETS............................................. 15
       3.7   WARRANTIES AND PRODUCT LIABILITY................................ 15
       3.8   COMPLIANCE WITH LAWS............................................ 15
       3.9   FINDER'S FEES................................................... 15
      3.10   ABSENCE OF CERTAIN PAYMENTS..................................... 15
      3.11   ABSENCE OF CERTAIN PROHIBITED ACTIVITIES........................ 15
      3.12   NO MATERIAL MISSTATEMENTS OR OMISSIONS.......................... 16
      3.13   SECURITIES LAW MATTERS.......................................... 16
                                   ARTICLE 4
                        REPRESENTATIONS AND WARRANTIES
                                 OF THE BUYER
       4.1   CORPORATE MATTERS............................................... 17
       4.2   APPROVALS AND AUTHORIZATIONS.................................... 17
       4.3   FINDER'S FEES................................................... 17
       4.4   COMPLIANCE WITH SECURITIES LAWS................................. 18
                                   ARTICLE 5
                             ADDITIONAL AGREEMENTS
       5.1   ACCESS TO INFORMATION........................................... 18
       5.2   DELIVERY OF CORPORATE DOCUMENTS; RETENTION OF RECORDS........... 18
       5.3   FURTHER ASSURANCES.............................................. 19
       5.4   CONTINUITY OF BUSINESS.......................................... 19
       5.5   INFORMATION..................................................... 19
       5.6   COMPLIANCE...................................................... 19
       5.7   COOPERATION AFTER CLOSING....................................... 20
       5.8   NONDISCLOSURE OF PROPRIETARY INFORMATION........................ 20
       5.9   WARRANTY CLAIMS................................................. 21
      5.10   COVENANT NOT TO COMPETE WITH THE BUSINESS....................... 21
      5.11   CONTINUATION OF BUSINESS........................................ 22

                                       2
<PAGE>

      5.12   USE OF NAMES.................................................... 23
                                   ARTICLE 6
                               BUYER CONDITIONS
       6.1   REPRESENTATIONS, WARRANTIES AND COVENANTS....................... 23
       6.2   INSTRUMENTS OF TRANSFER......................................... 23
       6.3   NO LITIGATION................................................... 23
       6.4   LICENSES, CONSENTS AND APPROVALS................................ 23
       6.5   RESOLUTIONS..................................................... 23
       6.6   NO ADVERSE EVENT................................................ 23
       6.7   OTHER LEGAL MATTERS............................................. 24

                                   ARTICLE 7
                              SELLER' CONDITIONS
       7.1   REPRESENTATIONS, WARRANTIES AND COVENANTS....................... 24
       7.2   RECEIPT OF TRANSFERRED ASSETS................................... 24
       7.3   LICENSES, CONSENTS AND APPROVALS................................ 24
       7.4   NO LITIGATION................................................... 24
       7.5   RESOLUTIONS..................................................... 24
                                   ARTICLE 8
                                INDEMNIFICATION
       8.1   INDEMNIFICATION BY THE SELLER................................... 24
       8.2   INDEMNIFICATION BY THE BUYER.................................... 25
       8.3   PROCEDURE....................................................... 26
       8.4   PAYMENT......................................................... 28
       8.5   FAILURE TO PAY INDEMNIFICATION.................................. 28
       8.6   SUBROGATION..................................................... 28
       8.7   ADJUSTMENT OF LIABILITY......................................... 28
       8.8   INDEPENDENT INDEMNITIES......................................... 28
       8.9   INVESTIGATION AND DUE DILIGENCE................................. 28
      8.10   EXPRESS NEGLIGENCE.............................................. 29
                                   ARTICLE 9
                     NATURE OF STATEMENTS AND SURVIVAL OF
                    COVENANTS, REPRESENTATIONS, WARRANTIES
                                AND AGREEMENTS
                                  ARTICLE 10
                                  TERMINATION
      10.1   EVENTS OF TERMINATION........................................... 29
      10.2   LIABILITY UPON TERMINATION...................................... 29
      10.3   NOTICE OF TERMINATION........................................... 29
                                  ARTICLE 11
                              DISPUTE RESOLUTION
      11.1   NEGOTIATION..................................................... 30
      11.2   ARBITRATION..................................................... 30
                                  ARTICLE 12
                                 MISCELLANEOUS
      12.1   GOVERNMENTAL FINDINGS........................................... 31
      12.2   ACCESS TO INFORMATION........................................... 31
      12.3   PUBLIC ANNOUNCEMENTS............................................ 31
      12.4   OTHER ACTION.................................................... 32
      12.5   EXPENSES........................................................ 32
      12.6   NOTICES......................................................... 32

                                       3
<PAGE>

      12.7   BULK TRANSFER LAWS.............................................. 32
      12.8   SUCCESSORS; ASSIGNMENT.......................................... 32
      12.9   ENTIRE AGREEMENT................................................ 33
     12.10   GOVERNING LAW................................................... 33
     12.11   SEVERABILITY.................................................... 33
     12.12   NO THIRD PARTY BENEFICIARIES.................................... 33
     12.13   COUNTERPARTS.................................................... 33
     12.14   NEGOTIATED TRANSACTION.......................................... 33

                            EXHIBITS AND SCHEDULES

Exhibit A.................................... Excluded Assets
Exhibit B.................................... Assumed Liabilities
Exhibit C.................................... Intelesis Resolutions
Exhibit D  .................................. Assignment of FREECALLER service
                                              mark
Exhibit E.................................... Non-Competition Agreements
Exhibit F.................................... Agreement to File form S-3
Exhibit G.................................... Software/Patent Purchase Agreement
Exhibit H.................................... Assignment of Software/Patent
                                              Purchase Agreement
Exhibit I.................................... Assignment of Common Law Trade
                                              and Service Marks
Exhibit J.................................... Assignment of Domain Names
Exhibit K.................................... Assignment of Rights

                                       4
<PAGE>

                           ASSET PURCHASE AGREEMENT

This Asset Purchase Agreement is made and entered into this 29th day of October,
1999, by and among Freecaller Communications Corporation fka Intelesis
Acquisition Corp., a Delaware corporation (the "Buyer"), being a wholly owned
subsidiary of Equalnet Communications Corp. ("ENET"), The Intelesis Group, Inc.,
fka The Intelesis Communications Group, Inc. a Florida corporation ("Intelesis"
or the "Seller"), and Freecaller Communications Corporation, a wholly owned
subsidiary of The Intelesis Group, Inc. ("Assignor").

                                  WITNESSETH:

WHEREAS, the Seller desires to transfer to the Buyer all of its properties and
assets relating to its Freecaller advertiser sponsored telecommunications
business except as excluded herein and certain liabilities, and the Buyer
desires to acquire the properties and assets and assume certain scheduled
liabilities, all upon the terms and subject to the conditions set forth herein;
and

WHEREAS, the Buyer is in the process of changing its name to Freecaller
Communications Corp., Freecaller Acquisition Corp. or a similar name; and

WHEREAS, the parties hereto desire to set forth certain representations,
warranties and agreements, all as more fully set forth below;

NOW, THEREFORE, in consideration of the premises, the respective covenants and
agreements contained herein and other good and valuable consideration, the
receipt and sufficiency of which the parties hereby acknowledge, the parties
hereto agree as follows (all capitalized terms not otherwise defined in this
Agreement shall have the meanings given to them in Article 1):

                                   ARTICLE 1
                         DEFINITIONS AND CONSTRUCTION

1.1  DEFINITION OF CERTAIN TERMS.  In addition to terms defined elsewhere in
this Agreement, the following terms have the meanings assigned to them in this
Section 1.1 unless the context otherwise indicates, for purposes of this
Agreement, The Schedules and Disclosure Schedule:

     "Additional Consideration" will have the meaning defined in Section 2.5.

     "Affiliate" means, with respect to any Person, any other Person that,
directly or indirectly through one or more intermediaries, controls, is
controlled by or is under common control with that person.

     "Agreement" means this Asset Purchase Agreement, as amended from time to
time by the Parties.

     "Assumed Liabilities" has the meaning given that term in Section 2.5.

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

     "Buyer" has the meaning specified in the preamble.

     "Cash Consideration" means $150,000.00 cash

     "Common Stock" means the common stock, $0.01 par value per share of ENET

     "Contracts and Other Agreements" means all contracts, agreements, purchase
orders, sales orders, understandings, indentures, notes, bonds, loans,
instruments, leases, mortgages

                                       5
<PAGE>

franchises, licenses, commitments or binding arrangements, whether express or
implied, oral or written, to which the Seller is a party or bound or to which
the Transferred Assets are subject.

     "Control", as used in the definitions of Affiliate and Subsidiary in this
Section 1.1, means the ownership, directly or indirectly of 50% or more of the
voting securities of a Person or the possession of the power to direct, or cause
the direction of the management and policies of that Person, whether through the
ownership of voting stock, by contract or otherwise.

     "Damages" means any and all judgments, claims, causes of action,
investigations or audits by Governmental Entities, suits, proceedings,
liabilities, losses, damages, demands, assessments, impositions, fines,
penalties, obligations, costs, expenses, actual damages (and, only with respect
to Third Party Claims, consequential and punitive damages) including in each
case, interest, awards, judgments, penalties, settlements, fines, costs of
remediation, costs and expenses incurred in connection with investigating and
defending any claims or causes of action (including attorneys' fees and expenses
and all fees and expenses of consultants and other professionals).

     "Debt Obligations" means any contract, agreement, indenture, note or other
instrument relating to the borrowing of money or any guarantee or other
contingent liability in respect of any indebtedness or obligation of any Person
(other than the endorsement of negotiable instruments for deposit or collection
in the ordinary course of business).

     "Equipment" means all machinery, transportation equipment, tools,
equipment, furnishings and fixtures owned, leased or subject to a contract of
purchase and sale, or lease commitment, that are used by the Seller.

     "Exchange Act" means the Securities Exchange Act of 1934, as amended.

     "Excluded Assets" has the meaning given that term in Section 2.2.

     "Governmental Entity" means any arbitrator, court, administrative or
regulatory agency, commission, department, board or bureau or body or other
government or authority or instrumentality or any entity of Person exercising
executive, legislative, judicial, regulatory or administrative functions of or
pertaining to government.

     "Hazardous Materials" means any (i) petroleum or petroleum products, (ii)
hazardous substances and (iii) any other chemical, substance or waste that is
regulated by any Governmental Entity under any Environmental Law.

     "Indemnitee" means the Person or Persons indemnified or entitled, or
claiming to be entitled to be indemnified, pursuant to the provisions of Section
8.1 or Section 8.2, as the case may be.

     "Indemnitor" means the Person or Persons having the obligation to indemnify
pursuant to the provisions of Section 8.1 or Section 8.2, as the case may be.

     "Inventories" means all inventories of finished goods, tooling, inventory,
work in progress and raw materials owned by Seller, wherever situated.

     "Law" means all foreign, federal, state, provincial and local laws, rules,
decrees, regulations, ordinances and orders.

     "Leasehold Interests" means the interests of the Seller as lessee to any
real property.

     "Lien" means any lien, pledge, claim, charge, security interest, mortgage,
deed of trust or other encumbrances, option, defect or other rights of any
nature whatsoever.

                                       6
<PAGE>

     "Material Adverse Change" and "Material Adverse Effect" means a single
event, occurrence or fact that, together with all other events, occurrences and
facts could reasonably be expected to result in a loss to the Business, would
have, or might reasonably be expected to have, a material adverse effect on the
assets, business, prospects, operations or condition (financial or otherwise) of
the Transferred Assets or the Business.

     "Person" means an individual, firm, corporation, division, association,
partnership, joint venture, limited liability company, organization, business or
Governmental Entity.

     "Proprietary Information" means collectively (i) Proprietary Rights and
(ii) any and all other information and material proprietary to the Seller,
owned, possessed or used by the Seller, whether or not the information is
embodied in writing or other physical form, and which is not generally known to
the public, that (y) relates to financial information regarding the Seller
including (A) business plans and (B) sales, financing, pricing and marketing
procedures or methods of the Seller or (z) relates to specific business matters
concerning the Seller, including the identity of, or other information,
regarding sales personnel or customers of the Seller.

     "Proprietary Rights" means all invention disclosures, patents, patent
rights, patent applications, trademark (registered and unregistered), trademark
registration applications, trade names, licenses, service marks (registered and
unregistered) service mark registration applications, registered copyrights
owned, licensed or used by the Seller, and refers to all Proprietary Rights and
any and all other proprietary rights of any kind (including all models, design
registrations, inventor's certificates, trade secrets, know-how, technical
information and data, logos, trade dress and unregistered marks and names (and
all goodwill associated therewith), confidentiality agreements and confidential
information, copyrightable works, unregistered and common law copyrights,
computer software and hardware and all documentation and related rights, and any
and all applications, registrations or the like relating to any of the
foregoing), and all tangible manifestations of  Seller and all technical
information relating thereto, whether written, on computer disks, tapes  or
other storage media or mental impressions, including any and all drawings,
blueprints, lists of materials, patterns, molds, records, documents,
specifications,  diagrams, formulae, product design standards, tools, die, jigs,
models, prototypes, product information literature, computer programs, data
compilations, project files, test development files,  reference lists,
notebooks, memoranda, notes, and any other materials that embody, contain, or
reflect any of the foregoing, anywhere in the world and owned, licensed or used
by the Seller.

     "Remedial Action" has the meaning given that term in Section 8.3(f).

     "Retained Liabilities" has the meaning given that term in Section 2.7.

     "Securities Act" means the Securities Act of 1933, as amended.

     "Seller" has the meaning given that term in the preamble.

     "Shares" means 899,807 shares of the Common Stock, which shall be issued to
Intelesis in certificates as follows; one certificate for 500,000 shares; two
certificates for 10,000 each; one certificate for 87,250; one certificate for
73,800; one certificate for 52,000; one certificate for 51,365; one certificate
for 31,000; one certificate for 24,500; one certificate for 23,400; one
certificate for 21,000; one certificate for 9,300 and one certificate for 6,192

     "Subsidiary" means, as to a Person, the controlled Affiliate of that
Person.

     "Survival Period" has the meaning given that term in Article 9.

                                       7
<PAGE>

     "Taxes"  means all foreign, federal, state, provincial, local and other
taxes, charges,  fees, duties, levies, imposts, customs or other assessments,
including all net income, gross income, gross receipts, sales, use, ad valorem,
transfer, franchise, profits, profit share, license, lease, service, service
use, value added, withholding, payroll, employment, unemployment, disability,
social security (or similar), registration, excise, estimated, severance,
stamps, occupation, premium, real  property, personal property, windfall
profits, environmental, alternative or add-on minimum, or other taxes, fees,
assessments, customs, duties, levies, imposts, or charges of any kind
whatsoever. Together with any interest, penalties, additions to tax, fines or
other additional amounts imposed thereon or related thereto, and the term "Tax"
means any one of the foregoing Taxes.

     "Transferred Assets" has the meaning given that term in Section 2.1(a).

     "$" means United States dollars.

1.2  CONSTRUCTION

     (a) Unless expressly stated otherwise, when used in this Agreement, (i),
"including" means "including without limitation", (ii) the words "hereof",
"herein" and  "hereunder", and similar words, refer to this Agreement as a whole
and not to any particular section, subsection, paragraph or provision of this
Agreement and (iii) references to Articles, Sections, Schedules and Exhibits
refer to the corresponding Articles, Sections, Schedules and Exhibits of this
Agreement.

     (b) The headings of the Articles, Sections, Schedules and Exhibits have
been inserted for convenience of reference only and shall in no way restrict or
otherwise modify any of the terms or provision of this Agreement or affect in
any way the meaning or interpretation of this Agreement.

                                   ARTICLE 2
                          PURCHASE AND SALE OF ASSETS

2.1  TRANSFERRED ASSETS

     (a) Subject to the terms and conditions of this Agreement and in
consideration of the obligations of the Buyer, as provided herein, and except as
otherwise provided in Section 2.2, at the Closing, the Seller shall sell,
assign, transfer, grant, bargain, deliver and convey to the Buyer all of the
Seller' right, title, interest in, to and under all of its assets, properties
and rights, including, but not limited to, those listed below, except as
expressly excluded herein (all of those assets, properties, rights and business
being hereinafter sometimes collectively referred to as the "Transferred
Assets"):

         (i)   the telecom switch utilized by and/or owned by Seller;
         (ii)  All patent rights, including but not limited to Freecaller,
               including any owned by Assignor
         (iii) all trademark and/or servicemark  rights, including but
               not limited to Freecaller, including any owned by Assignor;
         (iv)  all of Seller's Proprietary Information, including all
               intellectual and intangible property, including any owned by
               Assignor ;
         (v)   All domain names, including, but not limited to, freecaller.com,
               freetalker.com, freecaller.net, and freecallermedia.com and
               including any owned by Assignor;
         (vi)  The right, at Buyer's option to use the name Freecaller
               Communications Corporation, and Assignor agrees that, if
               requested, it will take any and all action necessary and proper
               to change its corporate name and allow Buyer or its assignee the
               right to use said name.

                                       8
<PAGE>

     (b) The Seller shall use its best efforts to obtain all consents of
third parties as are necessary for the assignment of the Transferred Assets.  To
the extent that any of the Transferred Assets are not assignable by the terms
thereof or consents to the assignment thereof cannot be obtained as provided
herein, the Transferred Assets shall be held by the Seller and all benefits and
obligations derived thereunder shall be for the account of the Buyer; provided,
that where entitlement of the Buyer to those Transferred Assets hereunder is not
recognized by any third party shall, at the request of the Buyer, enforce in a
reasonable manner as directed by the Buyer, at the cost of and for the account
of the Buyer, any and all rights of the Seller against that third party.

2.2  EXCLUDED ASSETS.  Notwithstanding anything in Section 2.1(a) to the
contrary, the Transferred Assets shall not include those assets of the Seller
listed or described on Exhibit A attached hereto (collectively, the "Excluded
Assets").

2.3  CLOSING.  Subject to the conditions set forth in this Agreement, the
closing shall take place at the offices of ENET, at 1250 Wood Branch Park Drive,
Houston, Texas  at 10:00 a.m. on October 29,1999, or at any other time, date and
place as the parties hereto shall mutually agree upon in writing (the "Closing
Date").  Failure to consummate the transactions contemplated hereby on that date
shall not result in a termination of this Agreement or relieve any party hereto
of any obligation hereunder.  Title to, ownership of, control over and risk of
loss of the Transferred Assets shall pass to the Buyer at 5:00p.m., Houston,
Texas time on the Closing Date.

2.4  TRANSFER DOCUMENTS.  At the Closing:

     (a) The Parties to this agreement (the "Parties") shall:

         (i)   execute, acknowledge and deliver to the Buyer all deeds, bills of
               sale, endorsements, assignments, and other good and sufficient
               instruments of conveyance, sale, transfer and assignment and with
               all required documentary and revenue stamps of applicable
               Governmental Entities affixed, as shall be required to vest
               effectively in the Buyer good and marketable title in and to the
               Transferred Assets, free and clear of all Liens;
         (ii)  deliver to the Buyer possession of all of the Transferred Assets
               and all of the documents and other information required to be
               delivered pursuant to Section 5.2(a).
         (iii) deliver to the Buyer all documents required to be delivered
               hereunder, including the Assignments attached as Exhibits H, I, J
               and K.
         (iv)  deliver to Buyer and its affiliates releases from Todd Fisch,
               Kirsten Fisch, Richard Sablon, any Affiliates, related parties,
               related or affiliated companies or any other entities or persons
               associated and/or affiliated with any of said persons or entities
               to ENET and Buyer, Affiliates or related entities from any and
               all liability to said individuals or entities in connection with
               any consulting or other agreement between said parties.
               Notwithstanding the foregoing the consulting agreement between
               Richard Sablon and/or First Canyon Limited effective as of April
               15, 1999 shall be and remain in full force and effect according
               to its terms.
         (v)   Deliver to Buyer the non-competition agreements on the terms as,
               and from the persons referenced in 5.10 hereof as reflected in
               Exhibit E attached hereto.
         (vi)  Deliver to Buyer such indemnification by Seller to assure that
               Buyer, including its parent, affiliates and/or subsidiaries has
               no liability or responsibility whatsoever in connection with said
               office from and after November 1, 1999. Buyer agrees to remove
               all of its property from said Miami office on or before November
               1, 1999. In the event the premises

                                       9
<PAGE>

                are subleased, Seller agrees to use its best efforts to obtain
                indemnification of the Buyer to assure that Buyer, including its
                parent, affiliates and/or subsidiaries has no liability or
                responsibility whatsoever in connection with said office from
                and after November 1, 1999.
         (vii)  Buyer and Seller, and their respective officers, directors,
                shareholders, affiliates, and all other persons related to or
                connected with any of the foregoing corporations will execute
                and deliver to the other full and complete releases and
                indemnifications from and against any and all claims any of them
                may have against the other, including any parent, subsidiaries
                and affiliates of said three corporations, including but not
                limited to any claims arising out of Buyer's advancement of
                funds or tangible property to Seller.
         (viii) Buyer shall deliver to Seller the agreement of ENET to the
                filing of an S-3 Registration Statement within 180 days of the
                Closing Date in the form attached as Exhibit F.
         (ix)   Assignor shall execute and deliver to Buyer the assignment
                attached as Exhibit D, together with any and all other documents
                necessary and proper to comply with its undertakings hereunder
                as requested by Buyer.
         (x)    Buyer shall deliver to Seller the Cash Consideration, and the
                Shares of Common Stock.

     (b) The Buyer shall execute and deliver to the Seller all documents
required to be delivered hereunder.

2.5  PURCHASE PRICE FOR THE ASSETS.  In consideration of the transfer to the
Buyer of the Transferred Assets and the non-compete agreements in Section 5.10,
at the closing the Buyer shall (a) deliver (i) the Cash Consideration and the
Shares of Common Stock, or at Seller's option copies of letters to ENET's
transfer agent requesting issuance of the Common Stock to the Seller, (ii)
assume the payment obligations of the Seller with respect to those Trade
Payables and Accrued Liabilities listed and scheduled on Exhibit B attached
hereto and payable by Buyer on or before November 15, 1999 plus pay rent on the
office at Suite 262, 11900 Biscayne Blvd., Miami, Florida (the "Miami Office")
through October 31, 1999 and final telephone bills relating to the Miami office
through September 30, 1999 (collectively, the "Assumed Liabilities").  In
addition, Seller shall receive the Additional Consideration of a release from
any obligation to USC Telecom, Inc. regarding phone bills and shall be assigned
any and all rights of Buyer as the Responsible Organization in connection with
the following telephone numbers:  877-550-1600, 877-550-1800, 877-550-2600, 877-
550-2800.

2.6  LIABILITIES NOT ASSUMED BY THE BUYER.  Except for the Assumed Liabilities,
the Seller shall pay and discharge in the due course all of their liabilities,
debts and obligations relating to the Transferred Assets, whether known or
unknown, now existing or hereafter arising, contingent or liquidated, including
any tax liabilities of Seller, including those pertaining to the Transferred
Assets or the Business for periods prior to the Closing Date, any Debt
Obligations and the liabilities and obligations set forth in clauses (a) through
(d) below (collectively, the "Retained Liabilities").   Without limiting the
generality of the foregoing, the Retained Liabilities shall include the
following:

     (a) any liability or obligation of the Seller arising out of or in
connection with the negotiation and preparation of this Agreement and the
consummation and performance of the transactions contemplated hereby, whether or
not the transactions are consummated, including tax liability so arising.

     (b) any liability or obligation for any and all Taxes of, or pertaining or
attributable to, (i) the Seller or (ii) the Transferred Assets for any period or
portion thereof that ends on or before the Closing Date;

                                       10
<PAGE>

     (c) any liability (other than with respect to the Assumed Liabilities) to
which any of the parties may become subject as a result of the fact that the
transactions contemplated by this Agreement are being effected without
compliance with the bulk sales provisions of the Uniform Commercial Code as in
effect in any state or any similar statute as enacted in any jurisdiction; and

     (d) all other liabilities and obligations arising prior to the Closing and
related to the conduct or operation of the Transferred Assets or the Business on
or prior to the Closing Date, including the Pre-Closing Obligations.

2.7  TRANSFER TAXES; RECORDING FEES.

     (a) The Buyer and the Seller acknowledge and agree that the Purchase Price
includes any and all sales, use, transfer or other similar Taxes imposed as a
result of the consummation of the transactions contemplated by this Agreement.
The Seller hereby agrees to indemnify the Buyer against, and agrees to protect,
save and hold the Buyer harmless from, any loss, liability, obligation or claim
(whether or not ultimately successful) for sales, use, transfer or other similar
Taxes imposed as a result of the consummation of the transactions contemplated
by this Agreement.

     (b) The Seller shall pay any and all recording, filing or other fees
relating to the conveyance or transfer of the Transferred Assets from the Seller
to the Buyer.

                                   ARTICLE 3
                         REPRESENTATION AND WARRANTIES
                                 OF THE SELLER

Except as otherwise set forth in the section of the Disclosure Schedule that
corresponds to the relevant representation or warranty, the Seller, represents
and warrants to the Buyer as follows in this Article 3:

3.1  CORPORATE MATTERS.

     (a) The Seller and Assignor are corporations duly organized, validly
existing and in good standing under the laws of the State of Florida. Assignor
is a corporation duly organized, validly existing and in good standing under the
laws of the State of Florida. Both have all requisite power and authority under
all applicable Laws, ordinance and orders of Governmental Entities to own,
operate and lease its properties and assets and to carry on its Business in the
manner currently conducted, except where the failure to have that power and
authority would not have a Material Adverse Effect. Both are licensed or
qualified to transact business as a foreign corporation and are in good standing
in the jurisdictions in which they conduct business, and there is no other
jurisdiction in which the nature and extent of the Seller's and Assignor's
business or the character of its assets make qualification necessary, except
where the failure to have so qualified would not have a Material Adverse Effect.
The Seller and Assignor have all requisite corporate authority to enter into
this Agreement and to perform their obligations under this Agreement.

3.2  VALIDITY OF AGREEMENT AND CONFLICT WITH OTHER INSTRUMENTS.

     (a) This agreement, and the transactions contemplated hereby, have been
duly authorized and approved by all necessary action on the part of the Seller,
including the approval of the directors of the Seller. This Agreement has been
duly executed and delivered by the Seller and is a legal, valid and binding,
obligation of the Seller enforceable against the Seller in accordance with its
terms, except as enforceability may be limited by applicable bankruptcy,
insolvency, reorganization, moratorium or similar laws from time to time in
effect that affect

                                       11
<PAGE>

creditors' rights generally and by legal and equitable limitations on the
availability of specific remedies.

     (b) The execution, delivery and performance of this Agreement and other
agreements and documents to be, and the compliance with the provisions hereof or
thereof, by the Seller will not, with or without the passage of time or the
giving of notice or both

         (i)   conflict with, constitute a breach, violation or termination of
               any provision of, or give rise to any right of termination,
               cancellation or acceleration, or loss of any right or benefit or
               both, under, any of the Entitlements or Contracts and other
               agreements relating to the business of Seller,
         (ii)  conflict with or violate the articles of incorporation or bylaws
               of the Seller,
         (iii) give rise to any preferential or other right of any third party
               to purchase any material assets of the Transferred Assets.
         (iv)  result in acceleration of, or increase in, any amounts due with
               respect to the Assumed Liabilities.
         (v)   result in the creation or imposition of any Lien on any of the
               Transferred Assets, or
         (vi)  violate any law, statute, ordinance, regulation, judgement,
               writ, injunction, rule, decree, order or any restriction of any
               kind or character applicable to the Transferred Assets, the
               Seller or any of their respective properties or assets relating
               to the business of Seller.

other than conflicts, breaches, violations, terminations, cancellations,
accelerations, increases, creations or impositions that would not materially and
adversely affect the ability of the Seller to consummate the transactions
contemplated by this Agreement.

     (c) Attached as Exhibit C are true, correct and complete copies of the
resolutions adopted by the board of directors of the Seller approving this
Agreement and the transactions contemplated hereby. Those resolutions were
adopted at meetings duly called and convened at which quorums were present and
acting throughout or by written consents executed in accordance with the
respective bylaws of the Seller and the Florida Business Corporation Act. Those
resolutions are in full force and effect without amendment or modification.

3.3  APPROVALS, LICENSES AND AUTHORIZATIONS.

     (a) No order, license, consent, waiver, permit, authorization or approval
of, or exemption by, or the giving of notice to, or the qualification,
registration with, or the taking of any other action in respect of, any Person
not a party to this Agreement including any Governmental Entity, and no filing,
recording, publication or registration in any public office or any other place
is now, or under existing law in the future will be, necessary on behalf of the
Seller to authorize their execution, delivery and performance of this Agreement
and the consummation of the transactions contemplated hereby (including
assignment of the Transferred Assets), or to effect the legality, validity,
binding effect or enforceability hereof.

     (b) All material licenses, permits, concessions, warrants, franchises and
other governmental authorizations and approvals of all Governmental Entities
required or necessary for the Seller to carry on the Business in the places and
in the manner currently conducted have been duly obtained and are in full force.
No material violations are in existence or have been recorded with respect to
the Permits, and no proceeding is pending or, to the knowledge of the Seller,
threatened with respect to the revocation or limitation of any of the Permits.
Except as set forth in Section 3.3(b) of the Disclosure Schedule, the Seller
have complied with all Laws applicable to the Business, and all rules,
regulations and orders respecting the provision of services by the Seller,
except for violations that would not have a Material Adverse Effect.

                                       12
<PAGE>

3.4  TITLE TO AND CONDITION OF PROPERTIES.

     (a) Seller owns no real property.

     (b) The Seller has a good and marketable title to the Equipment identified
as being owned by it free and clear of all liens.

     (c) The Seller has valid title to all Inventories identified as being owned
by Seller free and clear of all Liens.

     (d) The Seller owns the Accounts Receivable identified as being owned by
Seller free and clear of all Liens. All of the Accounts Receivable are
collectible in the ordinary course of business in accordance with past practice
(but in no event more than 120 days from the due date) and will not be subject
to any offset or other defenses to the payment thereof.

     (e) The Seller owns, or possesses adequate licenses or other rights to use,
all rights to the Proprietary Rights identified as patents, patent applications,
trademarks and service mark registrations and applications therefor included in
the Proprietary Rights have been duly registered or filed with the United States
Patent and Trademark office or, to the extent registered or applied for in other
countries, the corresponding offices of those other countries, and the
registrations have been properly maintained and renewed in accordance with all
applicable Laws. Buyer acknowledges that Seller has advised Buyer regarding the
administrative abandonment of the Freecaller service mark on September 23, 1999.
There are no adverse claims or demands of any Person pending, or to the
knowledge of the Seller, threatened that pertain to any of the Proprietary
Information and no potential claims from any Persons for infringement of
patents, trademarks or copyrights used in connection with the Transferred
Assets. The Proprietary Information constitutes proprietary rights sufficient to
allow the Buyer to continue to operate the Transferred Assets in Business as
conducted prior to the Closing Date, and there are no other proprietary rights
of any kind or nature owned or used by the Seller (or any of their Affiliates or
divisions) that are necessary in connection with the operation of the Business
and that are not included in the Proprietary Information. Except as set forth in
Section 3.4(e) of the Disclosure Schedule, the operation of the Business
utilizing the Transferred Assets has not and does not violate or infringe any
trade secrets or confidential information, United States or foreign copyrights,
trademarks, service marks, or similar rights and, to the knowledge of the
Seller, any United States of foreign patents, patent applications, utility
models, design registrations, or the like. Except as reflected in Section 3.4(e)
of the Disclosure Schedule, no employees or agents of the Seller has entered
into any agreement relating to the business of Seller regarding know-how, trade
secrets, cession, delegation or assignment of any rights or inventions or
prohibition or restriction of competition or solicitation of customers, or any
other similar restrictive agreement or covenant, whether written or oral, with
any person other than the Seller. All licenses are in full force and effect,
there has not been any material default in any obligation to be performed by the
Seller thereunder, the Seller have not waived or released any material right
thereunder, and except as noted in Sections 3.10 and 3.4(e), neither the
execution and delivery of this Agreement nor the consummation of the
transactions contemplated by this Agreement will constitute a breach or default
of, violate, or give rise to a right to cancel or terminate any of such
licenses.

3.5  CONTRACTS AND COMMITMENTS.

     (a) None of the Transferred Assets is subject to or bound by:

         (i)   any agreement, contract or commitment requiring the expenditure
               or series of related expenditures of funds in excess of US
               $1,000.00 (other than purchase orders in the ordinary course of
               business for goods necessary for the Seller to complete then
               existing contracts or sales

                                       13
<PAGE>

                orders), or expenditure in connection with preserving or
                establishing Proprietary Rights;

         (ii)   any agreement, contract or commitment requiring the payment for
                goods or services are actually provided or the provision of
                goods or services at a price less than the Seller' cost of
                producing the goods or providing the services;

         (iii)  any loan or advance to, or investment in, any Person or any
                agreement, contract, commitment or understanding relating to the
                making of any loan, advance or investment;

         (iv)   any Debt Obligations;

         (v)    any management service, employment, consulting or other similar
                type contract or agreement;

         (vi)   any agreement, contract or commitment that would limit the
                freedom of the Buyer or any Affiliate of the Buyer following the
                Closing Date to engage in any line of business, own, operate,
                sell, transfer, pledge or otherwise dispose of or encumber any
                of the Transferred Assets or to compete with any Person or to
                engage in any business or activity in any geographic area;

         (vii)  any agreement, lease, contract or commitment or series of
                related agreements, leases or commitments not entered into in
                the ordinary course of business or, except for agreements to
                purchase or sell goods and services entered into in the ordinary
                course of business of the Seller, not cancelable by the Seller
                without penalty to the Seller within 30 days;

         (viii) any agreement or contract obligating the Seller or that would
                obligate or require any subsequent owner of any of the
                Transferred Assets to provide for indemnification or
                contribution with respect to any matter;

         (ix)   any sales, distributorship or similar agreement relating to the
                products sold or service provided by the Seller;

         (x)    any license, royalty or similar agreement; other than the
                Software Royalty Agreement with Ricardo Sablon dated August 27,
                1998, a true copy of which is attached as Exhibit G, which
                Agreement is being assigned to Buyer, and Seller and Assignor
                represent and warrant that said agreement is in full force and
                effect and that there are no defaults or notices of default or
                terminations pending;

         (xi)   any other agreement, contract or commitment that might
                reasonably be expected to have a Material Adverse Effect; or

         (xii)  any agreement pursuant to which consequential or special damages
                payable by a Seller have not been waived.

     (b) The Seller is not in breach of any provision of, or in default (nor
does the Seller have knowledge of any event or circumstance that with notice, or
lapse of time or both, would constitute a default) under, the terms of any
Contracts and Other Agreements that constitute a part of the Transferred Assets,
except for breaches of defaults that would not have a Material Adverse Effect.
All of the Contracts and Other Agreements that constitute a part of the
Transferred Assets are in full force and effect. The Seller is not aware of any
pending or

                                       14
<PAGE>

threatened disputes with respect to any of the Contracts and Other Agreements
that constitute part of the Transferred Assets.

     (c) The enforceability of the Contracts and Other Agreements that
constitute a part of the Transferred Assets will not be affected by the
execution and delivery of this Agreement or the consummation of the transactions
contemplated hereby, and none of the Contracts and Other Agreements that
constitute a part of the Transferred Assets requires the receipt of a consent or
waiver of any Person or Governmental Entity prior to the sale, assignment,
transfer, conveyance or delivery thereof pursuant to this Agreement.

3.6  CONDITION OF ASSETS.  The Inventories and Equipment and all other plant,
property and equipment included in the Transferred Assets or used in the
Business are in good operating condition, repair and working order and free of
any known defects. Seller has not deferred any regularly scheduled maintenance
procedure for any Individual Transferred Asset that could cost in excess of US
$1,000.00.

3.7  WARRANTIES AND PRODUCT LIABILITY.

     (a) Except for (i) warranties implied by law, the Seller has not given or
made any warranties in connection with the sale of goods or services on or prior
to the Closing Date, including warranties covering the customer's consequential
damages. The Seller is not aware of any facts or the occurrence of any event
forming the basis of any present claim against any of the Seller with respect to
warranties relating to products manufactured, sold or distributed by or on
behalf of the Seller on or prior to the Closing Date.

     (b) To the knowledge of the Seller, there is no state of facts or any event
forming the basis of any present claim against the Seller not fully covered by
insurance, except for deductibles and self-insurance retentions, for personal
injury or property damage alleged to be caused by products shipped or services
rendered by or on behalf of the Seller.

3.8  COMPLIANCE WITH THE LAWS.  The Seller has complied in all material respects
with all laws applicable to its business and operations of the Transferred
Assets.

3.9  FINDER'S FEES.  The Seller has not employed or retained any investment
banker, broker, agent, finder or other party, or incurred any obligation for
brokerage fees, finder's fees or commissions with respect to the sale by the
Seller of any of the Transferred Assets or with respect to the transactions
contemplated by this Agreement, or otherwise dealt with anyone purporting to act
in the capacity of a finder or broker with respect thereto whereby any party
hereto may be obligated to pay a fee or commission.

3.10 ABSENCE OF CERTAIN PAYMENTS.  The Seller has not, and to the knowledge of
the Seller, no Affiliate, officer, director, agent, employee of, or other person
associated with or acting on behalf of the Seller has, within the five years
immediately preceding the date of this Agreement used any funds of the Seller
for unlawful contributions or gifts to, or entertainment of government officials
or other unlawful expenses relating to political activity, or made any direct or
indirect unlawful payments to government officials or employees or officers of
customers from funds of the Seller, or established or maintained any unlawful or
unrecorded funds.

3.11 ABSENCE OF CERTAIN PROHIBITED ACTIVITIES. The Seller has not  conducted
the business or operations of the Transferred Assets, or made any sales in
connection therewith, including sales into Cuba, Iraq, Iran, Libya, North Korea
or Sudan, in any manner that would violate any applicable Law relating to
embargoes or antiboycott matters.

                                       15
<PAGE>

3.12 NO MATERIAL MISSTATEMENTS OR OMISSIONS. This Agreement, including the
Schedules and Disclosure Schedule, does not contain any untrue statement of a
material fact or omit to state any material fact necessary to make all of the
statements herein not false or misleading.

3.13 SECURITIES LAW MATTERS.

     (a) The Seller recognizes and understands that the Shares of Common Stock
to be issued to the Seller as provided in this Agreement (the "Securities") will
not be registered under the Securities Act, or under the securities laws of any
state (the "securities laws"). The securities are not being so registered in
reliance upon exemptions from registration under the Securities Act and the
securities laws which are predicated, in part, on the representations,
warranties and agreements of the Seller contained within. Equalnet
Communications Corp. has agreed to file an S-3 Registration Statement, including
the Common Stock herein within 180 days after closing, which agreement shall be
delivered to Seller by Buyer at closing.

     (b) The Seller represents and warrants that (i) it has knowledge and
experience in business, finance, securities and investments, such experience
being based on actual participation therein, (ii) it is capable of evaluating
the merits and risks of an investment in the Shares and the suitability thereof
as an investment therefor, (iii) it is an experienced and sophisticated investor
in investments, including investments similar to that of the Shares, (iv) the
Shares to be acquired by it in connection with the sale of the Transferred
Assets will be acquired solely for investment and not with a view toward resale
or redistribution in violation of the securities laws, (v) its jurisdiction of
incorporation (in the case of the Seller) (vi) in connection with the
transactions contemplated hereby, no assurances have been made concerning the
future results of ENET or as to the value of the Common Stock, (vii) it has made
investments of a nature similar to the Shares, and, by reason of such
investments, and its business and financial experience, has acquired the
capacity to protect its interest in investments similar to that of the Shares
and (viii) it is an "accredited investor" within the meaning of Regulation D
promulgated by the Commission pursuant to the Securities Act. Seller understands
that ENET is not under any obligation to file a registration statement or to
take any other action under the securities laws with respect to any such
securities, except as set forth in Section 3.13(a) above.

     (c) The Seller has consulted with its own counsel in regard to the
securities laws and is fully aware (i) of the circumstances under which it is
required to hold the securities, (ii) of the limitations on the transfer or
disposition of the securities, (iii) that the securities must be held
indefinitely unless the transfer thereof is registered under the securities laws
or an exemption from registration is available and (iv) that no exemption from
registration is likely to become available for at least one year from the date
of acquisition of the securities. Seller has been advised by its counsel as to
the provisions of Rules 144 and 145 as promulgated by the Commission under the
Securities Act and has been advised of the applicable limitations thereof.
Seller acknowledges that the Buyer is relying upon the truth and accuracy of the
representations and warranties in this Section 3.13 by the Seller in
consummating the transactions contemplated by this Agreement without registering
the securities under the securities laws.

     (d) The Seller has been furnished with (i) the Annual Report on Form 10-K
of ENET, filed with the Securities Exchange Commission under the Exchange Act,
for all fiscal years as requested by Seller(the "Annual Report") and (ii) the
quarterly reports on Form 10-Q of ENET, as filed with the Securities Exchange
Commission under the Exchange Act, for all quarterly periods as requested by
Seller (the "Quarterly Reports"). (iii) all correspondence from Nasdaq Stock
Market concerning the potential removal of ENET common stock from trading on
either the Nasdaq National Market or the Nasdaq Small Cap Market if requested by
Seller. Seller has been furnished with the complete financial statements of ENET
for the fiscal years ended June 30, 1996, 1997 and 1998. Seller has been
furnished with a summary description of the terms of the Common Stock, and the
Buyer has made available to the Seller the opportunity to ask questions and
receive answers concerning the terms and conditions of the transactions
contemplated by this Agreement and to obtain any additional information which
they possess or reasonably

                                       16
<PAGE>

acquire for the purpose of verifying the accuracy of information furnished to
the Seller as set forth herein or for the purpose of considering the
transactions contemplated hereby. ENET has offered to make available to the
Seller upon request at any time all exhibits filed by ENET with the Commission
as part of any of the reports filed therewith.

     (e) The Seller agrees the certificates representing the Shares to be
acquired hereunder will be imprinted with the following legend, the terms of
which are specifically agreed to:

     THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE BEEN ACQUIRED FOR
     INVESTMENT AND HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933,
     AS AMENDED, OR ANY APPLICABLE STATE SECURITIES LAWS, BUT HAVE BEEN ACQUIRED
     FOR THE PRIVATE INVESTMENT OF THE HOLDER THEREOF, AND MAY NOT BE OFFERED,
     SOLD OR TRANSFERRED UNTIL EITHER (i) A REGISTRATION STATEMENT UNDER SUCH
     SECURITIES ACT OR SUCH APPLICABLE STATE SECURITIES LAW SHALL HAVE BECOME
     EFFECTIVE WITH REGARD THERETO, OR (ii) THE CORPORATION SHALL HAVE RECEIVED
     AN OPINION OF COUNSEL ACCEPTABLE TO THE CORPORATION AND ITS COUNSEL THAT
     REGISTRATION UNDER SUCH SECURITIES ACT OR SUCH APPLICABLE STATE SECURITIES
     LAWS IS NOT REQUIRED IN CONNECTION WITH SUCH PROPOSED OFFER, SALE OR
     TRANSFER.

Seller understands and agrees  appropriate stop transfer notations will be
placed in the records of ENET and with its transfer agents in respect of the
securities which are to be issued to the Seller hereunder.

                                   ARTICLE 4

                  REPRESENTATIONS AND WARRANTIES OF THE BUYER

     The Buyer represents and warrants to the Seller as follows:

4.1  CORPORATE MATTERS. The Buyer is a corporation duly incorporated and validly
existing under the laws of the State of Delaware. The Buyer has all requisite
power and authority to enter into this Agreement and to perform its obligations
under this Agreement.  This Agreement and all transactions contemplated hereby,
have been duly approved by all necessary action on the part of the Buyer.  No
further corporate action is necessary on the part of the Buyer to execute and
deliver this Agreement or to consummate the transactions contemplated hereby.
This Agreement has been duly executed and delivered by each of ENET and the
Buyer and is a legal, valid and binding obligation of each of them, enforceable
against it in accordance with its terms, except as enforceability may be limited
by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws
from time to time in effect that affect creditor's rights generally and by legal
and equitable limitations on the availability of specific remedies.

4.2  APPROVALS AND AUTHORIZATIONS.  No order, license, consent, waiver,
authorization or approval of, or exemption by, or the giving of notice to, or
the registration with, or the taking of any other action in respect of, any
Person not a party to this Agreement, including any Governmental Entity, and no
filing, recording, publication, or registration in any public office or any
other place is now, or under existing law in the future will be, necessary on
behalf of the Buyer to authorize its execution, delivery and performance of this
Agreement or any other agreement contemplated hereby to be executed and
delivered by the Buyer or ENET for the consummation of the transactions
contemplated hereby or thereby, or to effect the legality, validity, binding
effect or enforceability thereof.

4.3   FINDER'S FEES. The Buyer has not employed or retained any investment
banker, broker, agent, finder or other party, or incurred any obligation for
brokerage fees, finder's fees or

                                       17
<PAGE>

commissions, with respect to the sale of the Transferred Assets or with respect
to the transactions contemplated by this Agreement, or otherwise dealt with
anyone purporting to act in the capacity of a finder or broker with respect
thereto whereby any party hereto may be obligated to pay a fee or commission.

4.4  COMPLIANCE WITH SECURITIES LAWS.  The most recent Annual Report, as of the
date of filing thereof with the Commission, complied as to form in all material
respects with the requirements of the Exchange Act and the regulations
promulgated thereunder, and did not contain an untrue statement of material fact
or omit to state a material fact required to be stated therein or necessary in
order to make the statements therein not misleading.

                                   ARTICLE 5

                             ADDITIONAL AGREEMENTS

5.1  ACCESS TO INFORMATION.  Until the Closing, the Seller will furnish the
Buyer and its employees, officers, accountants, attorneys, agents, investment
bankers and other authorized representatives with all financial, operating and
other data and information concerning the Transferred Assets, commitments and
properties of the Seller as the Buyer reasonably shall request from time to time
and will afford the Buyer and its respective employees, officers, accountants,
attorneys, agents, investment bankers and other authorized representatives
access and will be given the opportunity to ask questions of, and receive
answers from, representatives of the Seller with respect to the Contracts and
other Agreements, the Transferred Assets and the other properties of the Seller.
No investigations by the Buyer or their respective employees, representatives or
agents shall reduce or otherwise affect the obligation or liability of the
Seller with respect to any representations, warranties, covenants or agreements
made in this Agreement or in any Exhibit, Schedule or other certificate,
instrument, agreement or document, including the Disclosure Schedule, executed
and delivered in connection with this Agreement.  The Seller will cooperate with
the Buyer and its employees, officers, accountants, attorneys, agents and other
authorized representatives in the preparation of any documents or other
materials that may be required by any Governmental Entity.

5.2  DELIVERY OF CORPORATE DOCUMENTS; RETENTION OF RECORDS.

     (a) The Seller shall deliver to the Buyer all documents and other written
information relating to the Transferred Assets, the Assumed Liabilities and the
current operations of the Transferred Assets, including all files relating to
the Accounts Receivable and the Trade Payables, computer disks, reflecting any
books or records, documents or other papers, or other information or data
relating to the operation of the Business but are entitled to retain the
historical books and records relating to the Business to the extent those books
and records are not necessary for the ongoing operations of the Business by the
Buyer.

     (b) In the event and for so long as any party is contesting or defending
against any action, suit, proceeding, hearing, investigation, charge, complaint,
claim or demand asserted by a third party (including any Governmental Entity) in
connection with (i) any transaction contemplated by this Agreement or (ii) any
fact, situation, circumstance, status, condition, activity, practice, plan,
occurrence, event, incident, action, failure to act or transaction on or prior
to the Closing Date involving the Transferred Assets, the other party will to
the extent reasonably practical cooperate with the contesting or defending party
and its counsel in the contest or defense, and provide testimony and access to
its books and records as shall be necessary in connection with the contest or
defense, all at the sole cost and expense of the contesting or defending party
(except to the extent the contesting or defending party is entitled to
indemnification therefor under Article 8); provided, that nothing herein
requires any party to retain any books and records other than in the ordinary
course of business; provided further, any party, before destroying any
historical books and records that relate in whole or in part to the Transferred
Assets, shall give the other party reasonable notice of its intention to destroy
those

                                       18
<PAGE>

books and records and an opportunity to make copies thereof at the sole expense
of the party destroying those copies. In addition, the Buyer agrees to provide
the Seller with reasonable access to any books and records included in the
Transferred Assets as may be necessary for the preparation of any Tax returns or
financial statements. Notwithstanding the foregoing, information as to which the
contesting or defending party may reasonably assert would waive a privilege need
not be disclosed.

5.3  FURTHER ASSURANCES.  The Seller and Assignor shall execute, acknowledge and
deliver, or cause to be executed, acknowledged and delivered, to the Buyer all
bills of sale, assignments and other instruments of transfer, assignment and
conveyance, in form and substance satisfactory to counsel for the Buyer, as
shall be necessary to vest in the Buyer all right, title and interest in and to
the Transferred Assets free and clear of all Liens (except Permitted Liens) and
shall use commercially reasonable efforts to cause to be taken any other action
as the Buyer reasonably may required to more effectively implement and carry
into effect the transactions contemplated by this Agreement.  Seller and
Assignor shall take all steps necessary to fully dissolve Assignor's corporate
existence.

5.4  CONTINUITY OF BUSINESS.  From the date of this Agreement up to the Closing
Date, the Seller shall use commercially reasonable efforts to (a) keep the
Seller's business organization intact, (b) carry on its Business in the usual,
regular and ordinary manner with a view to maintaining the goodwill that the
Seller currently enjoys, (c) perform all obligations under the Entitlements and
the Contracts and Other Agreements, (d) keep in full force and effect all
present insurance policies or other comparable insurance coverage, relating to
or affecting the Transferred Assets and Assumed Liabilities, (e) use
commercially reasonable efforts to maintain the Transferred Assets in a state of
repair, order and condition consistent with the Seller' usual practice (f)
maintain the Inventories at a level consistent with the Seller's usual practice,
(g) maintain their books of accounts and records relating to the Business in the
usual, regular and ordinary manner, (h) comply with all Laws  applicable to the
use, ownership and possession of the Transferred Assets and the management and
operation of the Business so as not to cause a Material Adverse Effect, (i)
other than Permitted Liens, not create a Lien on any of the Transferred Assets
or permit there to be created or exist any Liens thereon that would not be
released upon the transfer of the Transferred Assets to the Buyer pursuant to
this Agreement, (j) take any further actions as the Buyer reasonably may request
to preserve and maintain the Transferred Assets or the Assumed Liabilities and
(k) promptly notify the Buyer in writing if the Seller becomes aware of any
change that shall have occurred with respect to the Transferred Assets or the
Business that would reasonably be expected to have a Material Adverse Effect
whether or not occurring in the ordinary course of business.

5.5  INFORMATION.  During the period from the date of this Agreement to the
Closing Date, the Buyer and the Seller will promptly inform the other in writing
of any claim, action or any proceeding commenced against the  other party with
respect to the transactions contemplated by this Agreement or any of the
Transferred Assets.

5.6  COMPLIANCE.

     (a) The Seller shall use commercially reasonable efforts to:

         (i)   cause all of the obligations imposed upon it in this Agreement to
               be duly complied with, and all conditions precedent to those
               obligations to be satisfied; and

         (ii)  obtain any and all consents, waivers, amendments, modifications,
               approvals, authorizations, notations and licenses necessary to
               the consummation of the transactions contemplated by this
               Agreement.

                                       19
<PAGE>

     (b) The Seller shall cause all Liens on the Transferred Assets to be
released as of the Closing Date.

5.7  COOPERATION AFTER CLOSING.

     (a) In the event Buyer should discover that Seller did not or does not have
title to the Transferred Assets, the Seller shall cooperate with Buyer after the
Closing hereunder in clearing the title to any of the Transferred Assets if the
Seller's title to any of the property, as the case may be, as of the Closing
Date, shall be defective, not marketable or nonassignable. In this connection,
the Seller shall take all commercially reasonable action, including the
furnishing of documents and evidences of title and assistance in the preparation
and trial of any necessary litigation, to clear title to that property, all of
which shall be at the expense of the Seller.

(b)  For the greater of eight years from the Closing Date and any period as may
     be required by any statute, regulation or Governmental Entity or any then
     pending litigation, the Buyer shall permit the Seller and their
     representative reasonable access to the business records and files of the
     Seller that are transferred to the Buyer in connection herewith in
     anticipation of, or preparation for, existing or future litigation or any
     Tax audit in which any of the Seller or any of their Affiliates is involved
     and which is related to the Transferred Assets, during regular business
     hours and upon reasonable notice at the Buyer's principal place of business
     or at any location where the records are stored; provided, however, that
     (i) any access shall be had or done in a manner so as not to interfere with
     the normal conduct of the Business, (ii) the Buyer shall not be required to
     provide access to any confidential record or records, the disclosure of
     which would violate any governmental statute or regulation or applicable
     confidentiality agreement with any Person,  and (iii) the Buyer shall not
     be required to provide access to any confidential record or records, the
     disclosure of which would cause the Buyer or any of their Affiliates to
     waive any attorney-client privilege or attorney work product privilege, it
     being understood and agreed that the records delivered by the Seller to the
     Buyer shall not be deemed to be restricted from the Seller pursuant to
     either clause (ii) or (iii) above.

(c)  For the greater of eight years from the Closing Date and any period as may
     be required by any statute, regulation or Governmental Entity or any then
     pending litigation, the Seller shall permit the Buyer and their
     representatives reasonable access to the general business records and files
     of the Seller in anticipation of, or preparation for, existing or future
     litigation or any Tax audit in which any of the Buyer or any of their
     Affiliates is involved and which is related to the Business or the
     Transferred Assets, during regular business hours and upon reasonable
     notice at the Seller' principal  places of business or at any location
     where the records are stored; provided, however, that (i) any access shall
     be had or done in a manner so as not to interfere with the normal conduct
     of the Seller' business, (ii) the Seller shall not be required to provide
     access to any confidential record or records, the disclosure of which would
     violate any governmental statute or regulation or applicable
     confidentiality agreement with any Person, and (iii) the Seller shall not
     be required to provide access to any confidential record or records, the
     disclosure of which would cause the Seller or any of their Affiliates to
     waive an attorney-client privilege or attorney work product privilege.

5.8  NONDISCLOSURE OF PROPRIETARY INFORMATION.

(a)  From and after the Closing Date, the Seller and its Affiliates shall hold
     in confidence and will not directly or indirectly at any time reveal,
     report, publish, disclose or transfer to any Person other than the Buyer
     any of the Proprietary Information that is not generally known to the
     public or utilize any of the Proprietary Information for any purpose.
     Notwithstanding the foregoing, the Seller and its Affiliates may disclose
     information that is (i) required to be disclosed by applicable tax or
     securities Laws to the extent, and only to the extent, those Laws require
     the disclosure and the general text of the disclosure and the Buyer
     consents to the disclosure, which consent shall not be withheld or delayed
     unreasonably, and (ii) required to be disclosed by final

                                       20
<PAGE>

     order of a court of competent jurisdiction; provided, that, if Seller or
     its Affiliate is served or threatened with litigation that would require
     the Seller or the Affiliate to disclose that information, the Seller or
     that Affiliate shall tender the Buyer the opportunity to defend, at their
     cost, against the disclosure.

     (b) The Seller acknowledges that all documents and objects containing or
reflecting any Proprietary Information, whether developed by the Seller or by
someone else for it or any of their Affiliates, will after the Closing Date
become the exclusive property of the Buyer and be delivered to the Buyer.

     (c) Because of the unique nature of the Proprietary Information, the Seller
understands and agrees that the breach or anticipated breach of the obligations
of them or their Affiliates under this Section 5.8 will result in immediate and
irreparable harm and injury to the Buyer and its Affiliates, for which they will
not have an adequate remedy at law, and that the Buyer and its Affiliates and
their successors and assigns shall be entitled to relief in equity to enjoin the
breach or anticipated breach and to seek any and all other legal and equitable
remedies to which they may be entitled, without the necessity of posting bond or
other security therefor.

5.9  WARRANTY CLAIMS.  With respect to any claims made pursuant to warranties to
third Persons in connection with products manufactured, sold or distributed or
services provided by the Seller prior to the Closing Date that relate to the
Transferred Assets and that are covered by valid and existing warranties of the
Seller, the Buyer agrees to assume and pay for any claims to the extent, but
only to the extent, that the claims are reflected on Exhibit B.   Any claims in
excess of that amount shall remain part of the Retained Liabilities.  The Buyer
agrees to provide the necessary services to satisfy any claims made pursuant to
warranties of third Persons in connection with products manufactured, sold or
distributed or services provided by the Seller prior to the Closing Date that
relate to the Business and  that are covered by valid and existing warranties of
the Seller at a price equal to the Buyer's variable out-of-pocket costs. The
foregoing limitations, however, shall not be deemed in any way to limit the
right of the Buyer to seek indemnification from the Seller for any Buyer Losses
in connection with products manufactured, sold or distributed or services
provided by the Seller prior to the Closing Date to the extent the Buyer incurs
a monetary liability to any third Person with respect to those matters or
obligated to take any action other than that expressly covered by this Section
5.9.

5.10 COVENANT NOT TO COMPETE.

     (a) The Seller and its officers, directors and shareholders, as shown on
Exhibit E agree to execute the non-competition agreements in Exhibit E and
severally agree that, effective as of the Closing Date and for a period of two
years thereafter, no member of the Selling Group or any of their respective
current and future Affiliates shall, without written consent of the Buyer,
directly or indirectly, alone or with others, conduct, participate in, invest in
or engage in any business in the Continental United States that sells and/or
markets advertiser sponsored telecommunications service; provided, that it shall
not be a breach of this Section 5.10 if

         (i)   a member of the Selling Group were to purchase an equity interest
               in a business that competes with the Business and that equity
               interest comprises securities that are publicly traded and that
               represent in the aggregate, together with any other securities
               purchased or held by the member, less than five percent of the
               total equity interest in the competitive business; or

         (ii)  a member of the Selling Group purchases a debt security of a
               business that competes with the Business and the class of debt
               securities is publicly traded;

                                       21
<PAGE>

in the case of clauses (i) and (ii), so long as the member does not appoint,
cause the appointment of or become a director, officer other form of decision or
policy maker of the competitive business.

     (b) Each member of the Selling Group acknowledges that this covenant not to
compete is being provided as an inducement to the Buyer to acquire the
Transferred Assets and that this Section 5.10 contains reasonable limitations as
to time, geographical area and scope of activity to be restrained and does not
impose a greater restraint than is reasonably necessary to protect the goodwill,
technology or other business interests of the Buyer.

     (c) In addition to the restrictions set forth in paragraph (a) of this
Section 5.10, each member of the Selling Group agrees that, effective as of the
Closing Date and for a period of two years thereafter, no member of the Selling
Group or any of their respective current or future Affiliates shall, either
directly or indirectly, (i) make known to any person, firm or corporation that
is engaged in the business of advertiser sponsored telecommunications, the names
and addresses of any of the customers or agents of the Buyer or any of the
Buyer's Affiliates or any other information pertaining to such persons, (ii)
call on, solicit or sell to, or attempt to call on, solicit or sell to, any of
the customers or agents of the Buyer relative to advertiser sponsored
telecommunications whether for that member of the Selling Group or for any other
person, firm or corporation within any jurisdiction in which the Buyer or any of
their Affiliates is conducting or has conducted the Business, except as
otherwise permitted in Section 5.10.

     (d) Each member of the Selling Group further acknowledges that a remedy at
law for any breach or attempted breach of this Section 5.10 will be inadequate
and further agrees that any breach of this Section 5.10 will result in
irreparable harm to the Business; and the member covenants and agrees that
neither it nor any of its Affiliates will oppose any demand for specific
performance and injunctive and other equitable relief in the case of any breach
or attempted breach. Notwithstanding anything in this Agreement to the contrary,
the Buyer may seek enforcement of this covenant not to compete through judicial
process without the necessity of posting bond or other security and without the
necessity of complying with the provisions of Article 11 regarding resolution of
disputes, which shall not apply to this Section 5.10.

     (e) Whenever possible, each provision of this Section 5.10 shall be
interpreted in a manner as to be effective and valid under applicable law, but
if any provision of this Section 5.10 shall be prohibited or invalid under
applicable law, the provision shall be ineffective to the extent of the
prohibition of invalidity, without invalidating the remaining provisions of this
Section 5.10. If any provision of this Section 5.10 shall, for any reason, be
judged by any court of competent jurisdiction to be invalid or unenforceable,
the judgment shall not affect, impair or invalidate the remainder of this
Section 5.10. but shall be confined in its operation to the provision of Section
5.10 directly involved in the controversy in which the judgment shall have been
rendered. If the provisions of this Section 5.10 should ever be deemed to exceed
the time or geographic limitations permitted by applicable Laws, the provision
shall be reformed to the maximum time or geographic limitations permitted by
applicable Law.

5.11  CONTINUATION OF BUSINESS.  Nothing in this Agreement, in any Schedule
hereto or in any agreement, instrument or other document executed or delivered
in connection with this Agreement shall require the Buyer to continue its
businesses or operations or to manage and operate the Business with any duty or
standard of care to the Seller.  The Seller acknowledges and agrees that the
Buyer in its sole discretion may continue,  manage, modify or discontinue it's
operations, liquidate or otherwise change or cease it's operations.

5.12  USE OF NAMES.  All uses of the names utilized by Seller and Assignor in
connection with the Transferred Assets and the Freecaller business are being
transferred to the Buyer hereunder as part of the Transferred Assets.  The
Seller and Assignor agree that neither will take any action

                                       22
<PAGE>

that reasonably could be expected to affect adversely the Buyer's right to those
names or cause confusion with respect to the Buyer's use of those names.

                                   ARTICLE 6

                               BUYER CONDITIONS

     The obligations of the Buyer to purchase the Transferred Assets and to
assume the Assumed Liabilities as contemplated hereby is, at the option of the
Buyer, subject to the satisfaction on or before the Closing Date of the
conditions set forth below, any of which may be waived (together with any
related breach thereof) by the Buyer in writing.

6.1  REPRESENTATIONS, WARRANTIES AND COVENANTS.  The representations and
warranties of the Seller contained in this Agreement shall be true, correct and
complete on and as of the Closing date with the same force and effect as though
those representations had been made or given on and as of the Closing Date,
except for those matters due to changes in facts from the date hereof required
or permitted by this Agreement.  Each and all of the agreements and covenants of
the Seller to be performed or complied with by the Seller on or before the
Closing Date pursuant to this Agreement shall have been performed or complied
with. Seller shall have delivered to the Buyer a certificate signed by duly
authorized officers, in the case of the Seller, dated the Closing Date regarding
the matters referenced in Section 6.1.

6.2  INSTRUMENTS OF TRANSFER.  The Seller shall have executed, acknowledged and
delivered to the Buyer all bills of sale, assignments and other instruments of
transfer, assignment and conveyance, in form and substance mutually agreeable,
as shall be necessary to vest in the Buyer all the right, title and interest in
and to the Transferred Assets.

6.3  NO LITIGATION.  No preliminary or permanent injunction or other order of
any Governmental Entity shall be in effect nor shall there be in effect any
statute, rule, regulation or executive order promulgated or enacted by any
Governmental Entity that, in that case prevents the consummation of the
transactions contemplated by this Agreement.  No suit, action, claim, proceeding
or investigation before any Governmental Entity shall have been commenced or
threatened by any Person other than the Buyer or any of their Affiliates seeking
to prevent the sale of the Transferred Assets or the Business or asserting that
the sale of all or a portion of the Transferred Assets or the Business would be
unlawful.

6.4  LICENSE, CONSENTS AND APPROVALS. The Buyer shall have delivered to the
Seller a copy of the licenses, consents, approvals and other authorizations, if
any, from Governmental Entities or other third Persons, the lack of which (a)
would render legally impermissible the consummation of the transactions
contemplated by this Agreement or (b) would have a material Adverse Effect on
Buyer's use of the Transferred Assets.

6.5  RESOLUTIONS.  The Buyer shall have received copies of resolutions of the
directors of the Seller approving this Agreement and the transactions
contemplated hereby, certified by the Secretary or Assistant Secretary of the
Seller.

6.6  NO ADVERSE EVENT.  The Business and the properties of the Seller shall not
be adversely affected or threatened by any loss or damage to the Transferred
Assets (including any Equipment), whether or not covered by insurance and no
Material Adverse Change shall have occurred.

6.7  OTHER LEGAL MATTERS.  All Exhibits, Schedules, certificates, documents and
legal matters in connection with this Agreement and the transactions
contemplated hereby shall be in the form required by this Agreement.

                                       23
<PAGE>

                                   ARTICLE 7

                              SELLER'S CONDITIONS

     The obligation of the Seller to transfer the Transferred Assets as
contemplated hereby is, at the option of the Seller, subject to the satisfaction
on or before the Closing Date of the conditions set forth below, any of which
may be waived (together with any related breach thereof) by the Seller in
writing.

7.1  REPRESENTATIONS, WARRANTIES AND COVENANTS.  The representations and
warranties of ENET and the Buyer contained in this Agreement shall be true,
correct and complete on and as of the closing Date with the same force and
effect as though those representations and warranties had been made or give on
and as of the Closing Date.  Each and all of the agreements and covenants of the
Buyer to be performed or complied with by it on or before the closing Date
pursuant to this Agreement shall have been performed or complied with

7.2  RECEIPT OF THE TRANSFERRED ASSETS.  The Buyer shall have paid the Cash
Consideration and the Shares of Common Stock, and executed and delivered to the
Seller an instrument acknowledging receipt of the Transferred Assets and
assumption of the Assumed Liabilities in form and substance mutually agreeable.

7.3  LICENSE, CONSENTS AND APPROVALS.  The Buyer shall have delivered to the
Seller a copy of each of the licenses, consents, approvals and other
authorizations from Governmental Entities required to be obtained by Buyer and
necessary or appropriate for the Buyer to consummate the transactions
contemplated by this Agreement.

7.4  NO LITIGATION.  No preliminary or permanent injunction or other order of
any Governmental Entity shall be in effect nor shall there by any statute, rule,
regulations or executive order promulgated or enacted by any Governmental Entity
that, in that case, prevents the consummation  of the transactions contemplated
by this Agreement.  No suit, action, claim, proceeding or investigation before
any Governmental Entity shall have been commenced or threatened by any Person
other than the Seller or any of their Affiliates seeking to prevent the sale of
the Transferred Assets or the Business or asserting that the sale of all or a
portion of the Transferred Assets or the Business would be unlawful.

7.5  RESOLUTIONS.   The Seller shall have received copies of resolutions or
minutes of the directors of ENET and the Buyer approving this Agreement and the
transactions contemplated hereby, certified by the appropriate officer of the
Buyer.

                                   ARTICLE 8

                                INDEMNIFICATION

8.1  INDEMNIFICATION BY THE SELLER.  Except as otherwise limited by this Article
8 and Article 9, from and after the Closing, the Seller, shall absolutely and
irrevocably indemnify, defend and hold harmless the Buyer and every Affiliate of
the Buyer and their respective directors, stockholders, officers, employees,
agents, consultants, representatives, successors, transferees and assignees
(collectively, the "Seller Indemnified Parties") from, against and in respect of
any and all Damages that arise or result from or relate to the matters described
in Sections 8.1 (a) through 8.1(l) (collectively," Buyer Losses"); provided,
that  any claim for indemnity pursuant to Section 8.1(a) based upon a breach of
a representation or warranty made after the survival limitations set forth in
Article 9 shall be void and of no effect, and the Seller shall be relieved of
any liability in respect thereof, unless written notice of that claim under
Section 8.1(a) is provided

                                       24
<PAGE>

in reasonable detail by the Buyer to the Seller within the applicable notice
period specified in Article 9:

     (a) any misrepresentation or breach of representation or warranty made by
the Seller in this Agreement or in any other agreement, certificate, exhibit,
schedule, writing or other document furnished or delivered to the Buyer by the
Seller in connection with this Agreement;

     (b) Buyer Losses arising from, relating to or associated with the breach,
violation or default of any Retained Liability.

     (c) any actions taken by any of the Buyers to defend against, assume or
discharge any debt, liability or obligation of the Seller or encumbering or
burdening any of the Transferred Assets of any nature whatsoever, whether
currently known or unknown.

     (d) any Tax liability of the Seller, including Tax liability relating to
the Transferred Assets which is attributable to a Tax period or portion thereof
ending on or before the Closing Date;

     (e) Buyer Losses for consequential or special damages arising out of any
Contract or Other Agreement pursuant to which consequential or special damages
have not been waived;

     (f) any and all Environmental Liabilities that may be imposed upon or
incurred by the Buyer, arising out of or in connection with (a) the acts or
omissions of any Person prior to Closing relating to the Business, the
Transferred Assets, the Real Property, the Leasehold interests or; (b) any act
or omission of the Seller relating to the Transferred Assets, Real Property or
the Leasehold Interests (collectively, "Environmental Losses");

     (g) Buyer Losses arising out of noncompliance with any law regarding bulk
transfers in connection with the sale and transfer of the Transferred Assets and
the Business to the Buyer;

     (h) any losses or costs of defending against the Buyer Losses that may be
made against any of the Buyers by a Person claiming violations of any Laws
relating to the employment relationship, including wages, hours, concerted
activity, nondiscrimination, occupational health and safety and the payment and
withholding of Taxes, in each case in which the Buyer Losses arise out of
circumstances occurring prior to the Closing Date, including in connection with
the transfer of the Transferred Employees or the termination of the Terminated
Employees;

     (i) any losses asserted against Buyer relating to the Excluded Assets;

     (j) any claims arising out of or in any way related to the Miami office
including rent, utilities and the like from and after November 1, 1999.

     (k) any claims arising out of or in any way related to any consulting or
other agreements between persons involved with and/or related to or affiliated
with Seller.

     (l) any breach by the Seller of a representation or warranty contained in
Section 3.13 (collectively, "Securities Law Matters");

8.2  INDEMNIFICATION BY THE BUYER.  Except as otherwise limited by this Article
8 and Article 9, from and after the Closing the Buyer shall absolutely and
irrevocably indemnify, defend and hold harmless the Seller and every Affiliate
of the Seller and each of their respective directors, stockholders, officers,
employees, agents, consultants, representatives, successors, transferees and
assignees (collectively, "Buyer Indemnified Parties") from and against and in
respect of any and all Damages that arise or result from or relate to the
matters described in Sections 8.2 (a)

                                       25
<PAGE>

through 8.2 (c); provided, that the Buyer shall be obligated to indemnify the
Seller for any matter that also constitutes Buyer Losses (collectively, "Seller
Losses"):

     (a) any misrepresentation or breach of any representation or warranty made
by the Buyer or the breach of, or failure to perform by the Buyer any of their
covenants, commitments, agreements or obligations under or contained in this
Agreement or any other agreement, certificate, exhibit, schedule, writing or
document furnished or delivered to the Seller by the Buyer in connection with
this Agreement;

     (b) Seller Losses arising from, relating to or associated with the breach,
violation or default any Assumed Liability; or

     (c) except for the Retained Liabilities, Seller Losses arising from,
relating to or associated with the ownership, use, possession, enjoyment or
operation of the Transferred Assets from and after the Closing Date.

8.3  PROCEDURE.  All claims for indemnification under this Article 8 shall be
asserted and resolved as follows:

     (a) An Indemnitee, promptly after it becomes aware of facts giving rise to
a right of indemnification under this Agreement, shall give the Indemnitor
written notice thereof, stating the amount of the Losses, if known, and method
of computation thereof, all with reasonable particularity, and stating with
particularity the nature of the matter. For purposes of this Section 8.3(a),
receipt by a party of written notice of any demand, assertion, claim, action or
proceeding (judicial, administrative or otherwise) by or from any Person other
than a party to this Agreement that gives rise to Losses on behalf of the party
shall constitute the awareness of facts giving rise to a right of
indemnification by it under this Agreement and shall require prompt notice of
the receipt of such matter as provided in the first sentence of this Section
8.3(a). Failure to provide the notice shall not affect the right of the
Indemnitee to indemnification except to the extent the failure shall have
resulted in liability to the Indemnitor that could have been actually avoided
had the notice been provided within the required time period or except as
provided in Section 8.7.

     (b) If any Indemnitee should have a Loss against any Indemnitor hereunder
that does not involve a third party claim asserted against an Indemnitee that
could give rise to a right of indemnification under this Agreement ("Third Party
Claim"), the Indemnitee shall transmit to the Indemnitor a written notice with
respect to the Loss. If the Indemnitor does not notify the Indemnitee within 30
calendar days from the receipt of the written notice of Loss that the Indemnitor
disputes the Loss, the Loss specified by the Indemnitee in the Claim Notice
shall be deemed a liability of the Indemnitor hereunder. If the Indemnitor has
timely disputed the Loss as provided above, such dispute shall be resolved by
arbitration as set forth in this Agreement.

     (c) If the Indemnitee shall have a Third Party Claim asserted against it,
the Indemnitee shall transmit to the Indemnitor written notices of the Loss
relating to a Third Party Claim. During the 30 day period following receipt by
an Indemnitor of a notice of Loss relating to a Third Party Claim (the "Election
Period"), the Indemnitor shall advise the Indemnitee (i) whether the Indemnitor
disputes its potential liability to the Indemnitee under this Article 8 with
respect to the Third Party Claim or (ii) whether the Indemnitor desires, at its
sole cost and expense, to defend the Indemnitee against the Third Party Claim.

     (d) If the Indemnitor notifies the Indemnitee within the Election Period
that the Indemnitor does not dispute its potential liability to the Indemnitee
under this Article 8 and that the Indemnitor elects to assume the defense of the
Third Party Claim, the Indemnitor shall have the right to defend, at its sole
cost and expense the Third Party Claim by all appropriate proceedings, which
proceedings shall be prosecuted diligently by the Indemnitor to a final
conclusion or settled at the discretion of the Indemnitor in accordance with
this Section 8.3; provided, that such settlement shall not impose any
obligations upon the Indemnitee or deprive the Indemnitee of

                                       26
<PAGE>

any rights without its consent. The Indemnitor shall have full control of such
defense and proceedings, including, subject to the preceding sentence, any
compromise or settlement thereof. The Indemnitee is hereby authorized, (at its
sole cost and expense but only if the Indemnitee is actually entitled to
indemnification hereunder or if the Indemnitor assumes the defense with respect
to the Third Party Claim), to file, during the Election Period, any motion,
answer or other pleadings that the Indemnitee shall deem necessary or
appropriate to protect its interest or those of the Indemnitor and not
prejudicial to the Indemnitor (it being understood and agreed that if the
Indemnitee takes any such action that is prejudicial and conclusively causes a
final adjudication adverse to the Indemnitor, the Indemnitor shall be relieved
of its obligations hereunder with respect to he Third Party Claim to the extent
so adjudicated). If requested by the Indemnitor, the Indemnitee agrees, at the
sole cost and expense of the Indemnitor, to cooperate with the Indemnitor and
its counsel in contesting any Third Party Claims, including by making of any
related counterclaim against the Person asserting the Third Party Claim or any
cross-complaint against any Person. The Indemnitee shall have the right to
participate in, but not control, any defense or settlement of any Third Party
Claim controlled by the Indemnitor pursuant to this Section 8.3, and shall bear
its own costs and expenses with respect to any such participation.

     (e) If an Indemnitor fails to notify an Indemnitee within the Election
Period that the Indemnitor elects to defend the Indemnitee pursuant to this
Section 8.3, or if the Indemnitor elects to defend the Indemnitee but fails to
diligently and promptly prosecute or settle the Third Party Claim, the
Indemnitee shall have the right but not the obligation to defend, at the sole
cost and expense of the Indemnifying party (but only if the Indemnitee actually
is entitled to indemnification hereunder or if the Indemnitor assumes the
defense with respect to the Third Party Claim), the Third Party Claim by such
proceedings deemed reasonably appropriate by the Indemnitee and its counsel. The
Indemnitee shall have full control of such defense and proceedings, including
any compromise or settlement of the Third Party Claim; provided, that if the
Indemnitor agrees to indemnify the Indemnitee under this Article 8, the
Indemnitee shall not enter into any compromise or settlement of such Third Party
Claim without the Indemnitor's consent, which shall not be unreasonably withheld
or delayed. If requested by the Indemnitee, the Indemnitor shall, at the sole
cost and expense of the Indemnitor, cooperate with the Indemnitee and its
counsel in contesting any Third Party Claim that the Indemnitee is contesting,
or, if appropriate and related to the Third Party Claim in question, in making
any counterclaim against the Person asserting the Third Party Claim or any
cross-complaint against any Person. Notwithstanding the foregoing in this
Section 8.3, if the Indemnitor has delivered a written notice to the Indemnitee
to the effect that the Indemnitor disputes its potential liability to the
Indemnitee under this Article 8 and if such dispute is resolved in favor of the
Indemnitor pursuant to Article 11, the Indemnitor shall not be required to bear
the costs and expenses of the Indemnitee's defense pursuant to this Article 8 or
of the Indemnitor's participation therein at the Indemnitee's request, and the
Indemnitee shall reimburse the Indemnitor in full for all reasonable costs and
expenses of the Indemnitor in connection with the Third Party Claims, excluding,
however, any litigation with respect to its indemnity obligation hereunder. The
Indemnitor shall have the right to participate in, but not control, any defense
or settlement controlled by the Indemnitee pursuant to this Section 8.3 and the
Indemnitor shall bear its own costs and expenses with respect to any such
participation.

     (f) With respect to any Buyer Loss for which the Seller is required to
indemnify and defend the Buyer pursuant to the terms of this Agreement and that
requires any removal, remedial, response, clean-up or other corrective action
("Remedial Action") to address conditions that cause, contribute to or are
associated with the Buyer Loss, the Seller may elect to implement and complete
the Remedial Action, in which case the Seller shall not be required to achieve
cleanup standards that are more stringent than those required under
Environmental Laws existing as of the Closing Date. The Seller shall endeavor to
plan, design, implement and perform the Remedial Action without undue delay and
in a manner consistent with the operations and requirements of the Business. The
Seller shall provide the Buyer with copies of all reports, plans and
correspondence submitted to any Governmental Entity with respect to the Remedial
Action.

                                       27
<PAGE>

8.4  PAYMENT.  Payment of all amounts owing by an Indemnitor as a result of a
Third Party Claim shall be made within five business days after the earlier of
(i) the settlement of the Third Party Claim and (ii) the expiration of the
period of appeal of a final adjudication of the Third Party Claim.  Payments of
all amounts still owing by an Indemnitor other than as a result of a Third Party
Claim shall be made within five business days after the later of (i) 30 days
after the expiration of the Election Period or (ii) if contested through dispute
resolutions proceedings, the expiration of the period for appeal of a final
adjudication of the Indemnitor's liability to the Indemnitee under this
Agreement.  Notwithstanding the foregoing, if the Indemnitor has not contested
its indemnity obligations hereunder and has not elected to assume the defense of
a Third Party Claim, the Indemnitor shall reimburse (promptly after the receipt
of each invoice therefor) the Indemnitee for the reasonable costs and expenses
incurred by the Indemnitee in contesting the Third Party Claim together with
reasonable support for such expenditures.

8.5  FAILURE TO PAY INDEMNIFICATION.  If and to the extent the Indemnitee shall
make written demand upon the Indemnitor for indemnification pursuant to this
Article 8 and the Indemnitor shall refuse or fail to pay in full within the time
period specified in Section 8.4 the amounts demanded pursuant hereto and in
accordance herewith, the Indemnitee may utilize any legal or equitable  remedy
to collect from the Indemnitor the amount of its Losses including the right to
offset such amounts against any principal or interest due under the Note.
Nothing contained herein is intended to limit or constrain the Indemnitee's
rights against the Indemnitor for indemnity, the remedies herein being
cumulative and in addition to all other rights and remedies of the Indemnitee.

8.6  SUBROGATION.  If the Indemnitee is one of the Buyer Indemnified Parties and
the Indemnitee has a right against a Person (other than one of the Buyer
Indemnified Parties) with respect to any Damages or other amounts paid  to the
Indemnitee by the Buyer, then the Buyer shall, to the extent of that payment, be
subrogated to the right of such Indemnitee.  If the Indemnitee has a right
against a Person (other than one of the Seller Indemnified Parties) with respect
to any damages or other amounts paid to the Indemnitee by the Seller, the
Seller shall, to the extent of such payment, be subrogated to the right of such
Indemnitee.

8.7  ADJUSTMENT OF LIABILITY.  In determining the amount of any Loss for which
any party is entitled to indemnification under this Article 8, the gross amount
thereof (a) will be reduced by any insurance proceeds realized or to be realized
by such party, and such correlative insurance benefit of such claim and (b) will
be increased by (i) to the extent such payment is based on amounts paid by the
Indemnitor, interest on such amount at the rate quoted from time to time on
London Interbank Market for 30 day borrowings, plus 1 1/2 % from the date such
payment is made until payment is made as required hereunder and (ii) to the
extent such payment is based on Losses incurred by the Indemnitee, interest on
such amount at the rate quoted from time to time on the London Interbank Market
for 30 day borrowings, plus 1 1/2 %  from the date of the Loss until payment is
made as required hereunder.

8.8  INDEPENDENT INDEMNITIES.  The parties acknowledge and agree that each of
the indemnities under Section 8.1(a) through 8.1(l) and 8.2(a) through 8.2(c)
may be relied  upon independently.

8.9  INVESTIGATION AND DUE DILIGENCE.  No investigation, examination, audit,
inspection or other due diligence prior to the Closing shall affect any party's
rights to indemnify pursuant to this Agreement; provided, that the foregoing is
not intended to affect the representations, warranties and other agreements as
modified by the Disclosure Schedule.

8.10 EXPRESS NEGLIGENCE.  THE FOREGOING INDEMNITIES SET FORTH IN THIS ARTICLE 8
ARE INTENDED TO BE ENFORCEABLE AGAINST THE PARTIES IN ACCORDANCE WITH THE
EXPRESS TERMS AND SCOPE THEREOF NOTWITHSTANDING TEXAS' EXPRESS NEGLIGENCE RULE
OR ANY SIMILAR DIRECTIVE THAT WOULD

                                       28
<PAGE>

PROHIBIT OR OTHERWISE LIMIT INDEMNITIES BECAUSE OF SIMPLE OR GROSS NEGLIGENCE
(WHETHER SOLE, CONCURRENT, ACTIVE OR PASSIVE) OR OTHER FAULT OR STRICT LIABILITY
OF ANY OF THE INDEMNIFIED PARTIES.

                                   ARTICLE 9

                NATURE OF STATEMENTS AND SURVIVAL OF COVENANTS,
                  REPRESENTATIONS, WARRANTIES AND AGREEMENTS

     The several representations and warranties of the parties to this Agreement
shall survive the Closing Date and shall remain in full force and effect for a
period of four years following the Closing Date.  All covenants and agreements
contained herein shall survive without limitation.  Any claim for
indemnification made during the Survival Period shall be valid and the
representations and warranties relating thereto shall remain in effect for
purposes of that indemnification notwithstanding that the claim may not be
resolved within the Survival Period.

                                  ARTICLE 10

                                  TERMINATION

10.1 EVENTS OF TERMINATION.   The obligations to close the transactions
contemplated by this Agreement may be terminated by:

     (a) mutual agreement of ENET, the Buyer and the Seller;

     (b) ENET or the Buyer, if a material default shall be made by the Seller in
the observance or in the due and timely performance by the Seller of any
agreements and covenants of the Seller herein contained or if there shall have
been a breach by the Seller of any of the warranties and representations of the
Seller herein contained, and the default or breach has not been cured or has not
been waived within 30 days of written notice of;

     (c) ENET or the Buyer, upon written notice to the Seller, if there shall
have occurred a Material Adverse Change subsequent to the date of this
Agreement.

     (d) the Seller, if a material default shall be made by the Buyer or ENET in
the observance or in the due and timely performance by the Buyer or ENET of any
agreements and covenants of the Buyer or ENET herein contained, or if there
shall have been a breach by the Buyer or ENET of any of the warranties and
representations of the Buyer or ENET herein contained, and the default or breach
has not been cured or has not been waived within 30 days of written notice
thereof.

10.2 LIABILITY UPON TERMINATION.  If the obligation to close the transactions
contemplated by this Agreement is terminated pursuant to any provision of this
Article 10, then this Agreement shall forthwith become void and there shall not
be any liability or obligation with respect to the terminated provisions of this
Agreement on the part of the Seller or the Buyer or ENET except and to the
extent the termination results from the willful breach by a party of any of its
representations, warranties or agreements.

10.3 NOTICE OF TERMINATION.  The parties hereto may exercise their respective
rights of termination under this Article 10 only by delivering written notice to
that effect to the other party, provided, however, that the notice must be
received on or before the Closing Date.

                                  ARTICLE 11

                              DISPUTE RESOLUTION

                                       29
<PAGE>

11.1 NEGOTIATION.  Except for disputes, controversies or claims arising under
or relating to the matters in Sections 5.8 and 5.10, which disputes shall be
resolved pursuant to Sections 5.8 and 5.10, respectively, the parties to this
Agreement shall attempt in good faith to resolve any dispute arising out of or
relating to this Agreement promptly by negotiation between their respective
authorized representatives who have authority to settle the controversy.  Any
party may give the other party written notice of any dispute not resolved in the
normal course of business.  Within five days after the date that the notice is
deemed to have been delivered, authorized representatives of the disputing
parties shall agree upon a mutually acceptable time and place to meet and shall
meet at that time and place, and thereafter as often as they reasonably deem
necessary, to exchange relevant information and to attempt to resolve the
dispute. The first of those meetings shall take place within 30 days after the
date that the notice referred to above has been deemed to be delivered. If a
disputing party intends to be accompanied at a negotiation meeting by an
attorney, that disputing party shall give the other parties at least three
business days notice of that intention, and the other parties may also be
accompanied by an attorney. If the matter has not been resolved within 60 days
of the disputing party's notice or if the parties fail to agree on a time and
place for an initial meeting within five days of delivery of that notice, any
party may initiate arbitration of the dispute, controversy or claim as provided
in Section 11.2. In addition, if one party has requested the other party to
participate in a non-binding procedure and the other party has failed to
participate, the requesting party may initiate arbitration pursuant to Section
11.2 prior to the expiration of the 60 days.

11.2 ARBITRATION. Any dispute, controversy or claim arising out of or relating
to this Agreement or the breach, termination or validity hereof, which cannot be
resolved by negotiation as provided in Section 11.1, shall be finally settled
under the Rules of Conciliation and Arbitration of the American Arbitration
Association (the "Rules") by an arbitral tribunal (the "Tribunal") comprised of
one arbitrator appointed by each party and a third arbitrator appointed by the
two arbitrators appointed by the parties. The third arbitrator shall act as the
presiding arbitrator (the "Chairman"). A decision of the majority of the
arbitrators shall be binding.

     (a) Location. Unless the parties shall otherwise agree in writing, the
arbitration shall be held in Houston, Texas.

     (b) Time Limitation. Any arbitration proceeding hereunder must be
instituted within one year after the controversy or claim arises. Failure to
institute an arbitration proceeding within the one-year period shall constitute
an absolute bar to the institution of any proceedings respecting the controversy
or claim, and a waiver thereof. The arbitration proceeding shall be conducted
and concluded as soon as reasonably practicable, based on the schedule
established by the Tribunal, but in any event the decision of the Tribunal shall
be rendered within 120 days following the selection of the Chairman. The parties
desire that any dispute, controversy or claim be resolved quickly and at the
lowest possible cost, and the Tribunal shall act in a manner consistent with
these intentions, including limiting discovery only to that which is absolutely
necessary to enable the Tribunal to render a fair decision that reflects the
parties intent set forth in this Agreement.

     (c) Interpretation. The Tribunal shall interpret this Agreement in
accordance with the Laws stipulated in Section 12.10 and the construction
stipulated in Section 1.2. The procedural law of the forum shall be applied with
respect to matters not covered by the Rules. All statutes of limitation that
otherwise would be applicable shall apply to the arbitration proceeding. Any
attorney-client privilege and other protection against disclosure of privileged
or confidential information, including any protection afforded the work product
of any attorney, that otherwise could be claimed by any party shall be available
to and may be claimed by that party in any arbitration proceeding. No party
waives any attorney-client privilege or any other protection against disclosure
of privileged or confidential information by reason of anything contained in, or
done pursuant to, the arbitration provisions of this Agreement.

                                       30
<PAGE>

     (d) Binding Nature of Arbitration. The decision of the Tribunal pursuant to
this Article 11 shall be final and binding on the parties to this Agreement and
shall be enforceable in accordance with The New York Convention on the
Recognition and Enforcement of Foreign Arbitral Awards (1958). The parties agree
to submit to the jurisdiction of any court within the jurisdiction in which the
party against whom enforcement is sought has property or assets for purposes of
the enforcement of any award, order of judgment.

     (e) Written Decision, Awards. Any award or damages pursuant to the
arbitration shall be included in a written decision signed by the arbitrator (or
a majority of the arbitrators) which shall state the reasons upon which the
award was based, including all the elements involved in the calculation of any
award of damages. The award of damages shall not include punitive, special,
exemplary or consequential damages, including loss of profits or lost business
opportunity, or any damages other than or in addition to actual damages, but may
include interest from the date of the award. Any monetary award shall be in
United States dollars free of any tax or other deduction and shall include
interest from the date of any breach or other violation of this Agreement to the
date paid in full at a floating rate of interest equal to the prime rate of
interest in effect at Chase Bank, N.A., New York, United States of America, from
time to time.

     (f) Injunctive or Preliminary Relief. Not withstanding any provision of
this Agreement, either party shall have the right, at any time after
commencement of any arbitration proceeding hereunder and prior to the rendering
of any award, order or judgment thereunder, to apply to the Tribunal or to any
court of competent jurisdiction for injunctive or preliminary relief. No
application for injunctive or preliminary relief shall be construed to infringe
upon this arbitration agreement or affect the powers of the Tribunal.

                                  ARTICLE 12

                                 MISCELLANEOUS

12.1 GOVERNMENTAL FILINGS.  As promptly as practical, after the execution of
this Agreement, the Buyer, and the Seller shall, in cooperation with the other,
file any reports or notifications that may be required to be filed by them under
applicable law and shall furnish to the other all information in their
possession as my be necessary for the completion of the reports or notifications
to be filed by the other.

12.2 ACCESS TO INFORMATION.  Prior to the Closing, the Buyer may make an
investigation of the business and properties of the Seller as the Buyer may
desire and, upon reasonable notice, the Seller shall give to the Buyer and their
counsel, accountants and other representatives reasonable access, during normal
business hours throughout the period prior to Closing, to the property, books,
commitments, agreements, records, files and personnel of the Seller, and the
Seller shall furnish the Buyer during that period all copies of documents and
information concerning the Seller as the Buyer may reasonably request, subject
to all applicable law. The Buyer shall hold, and shall cause their counsel,
accountants and other agents and representatives to hold, that information and
those documents in confidence.

12.3 PUBLIC ANNOUNCEMENTS.  Subject to applicable securities law or stock
exchange requirements, neither the Buyer nor the Seller shall, without the prior
approval of the other party hereto, issue, or permit any of their respective
partners, directors, officers, employees, agents or Affiliates to issue, any
press release or other public announcement with respect to this Agreement or the
transactions contemplated hereby.

12.4 OTHER ACTION.  Each of the parties shall use its best efforts to cause the
fulfillment at the earliest practical date but, in any event, prior to the
Closing Date of all of the conditions to their respective obligations to
consummate the transactions under this Agreement.

                                       31
<PAGE>

12.5 EXPENSES.  Except as otherwise set forth herein, and whether or not the
transactions contemplated by this Agreement shall be consummated, each party
agrees to pay, without right of reimbursement from any other party, the costs
incurred by that party incident to the preparation and execution of this
Agreement and performance of its obligations hereunder, including the fees and
disbursements of legal counsel, accountants and consultants employed by that
party in connection with the transactions contemplated by this Agreement.

12.6 NOTICES.  All notices, requests, consents, directions and other
instruments and communications required or permitted to be given under this
Agreement shall be in writing and shall be deemed to have been duly given if
delivered in person, by courier, by an internationally recognized overnight
delivery service with proof of delivery or by prepaid registered or certified
United States first class mail, return receipt requested, addressed to the
respective party at the address set forth below, or if sent by facsimile
transmission or other similar form of communication (with receipt confirmed) to
the respective party at the facsimile number set forth:

     If to Buyer to:

     Freecaller Communications Corporation
     1250 Wood Branch Park Drive
     Houston, Texas 77079
     Attention:  General Counsel
     Facsimile:  281-529-4686
     Confirm:    281-529-4648

     If to Intelesis:

     The Intelesis Group, Inc.
     11900 Biscayne Blvd
     Suite 262.
     Miami, Florida 33181
     Attention:  Kirsten Fisch
     Facsimile:  305-892-7242
     Confirm:    877-550-1800

     Copies to (in the case of the Seller):

     Joel Bernstein, P. A.
     11900 Biscayne Blvd.
     Suite 625
     Miami, Florida 33181
     Facsimile:  305-899-0822
     Confirm:  ___________

or to any other address or facsimile number and to the attention of that other
Person(s) as either party may designate by written notice.  Any notice mailed
shall be deemed to have been given and received on the third business day
following the day of mailing.

12.7 BULK TRANSFER LAWS.  The Seller represents to  the Buyer that the
provisions of any Laws of any state or jurisdiction regulating bulk sales or
transfers do not apply to this Agreement.

12.8 SUCCESSORS; ASSIGNMENT.  This Agreement shall inure to the benefit of and
be binding upon the Buyer and the Seller and their respective successors and
permitted assigns.  Neither this Agreement nor any of the rights, interest or
obligations hereunder shall be assigned by either of the parties hereto without
the prior written consent of the other party hereto, provided, however, that the
Buyer may assign its rights under this Agreement to any Affiliate of the Buyer,

                                       32
<PAGE>

but in the event that the Buyer so assigns its rights, it shall remain liable
for its obligations hereunder.

12.9  ENTIRE AGREEMENT.  This Agreement, the Exhibits and Schedules hereto and
the Disclosure Schedule constitute the entire agreement and understanding
between the parties relating to the subject matter hereof and thereof and
supercede all prior representations, endorsements, premises, agreements,
memoranda, communications, negotiations, discussions, understandings and
arrangements, whether oral, written, or inferred, between the parties relating
to the subject matter hereof, including without limitation the Letter of Intent,
the Agreement and Plan of Merger dated as of April 15, 1999.  Furthermore, this
Agreement expressly cancels and ceases any and all obligations by any parties
under the consulting Agreement between ENET and Global Depository Systems Inc.
effective as of April 1, 1999 and between ENET and Todd and Kirsten Fisch dated
as of April 1, 1999, any agreement between Mark A. Willis or any other Officer,
Director or Manager of ENET or Buyer and Todd Fisch, Richard Sablon a/k/a
Ricardo Sablon or any other officer, director or shareholder of Seller and any
and all successor agreements between the parties that relate to the subject
matters therein except as expressly assumed by and/or assigned to Buyer and/or
ENET herein.  This Agreement may not be modified, amended, rescinded, cancelled,
altered or supplemented, in whole or in part, except upon the execution and
delivery of a written instrument executed by a duly authorized representative of
each of the parties hereto.

12.10 GOVERNING LAW.  This Agreement shall be governed by and construed and
enforced in accordance with the laws of the State of Texas without giving effect
to choice of law principles.

12.11 SEVERABILITY.  Any provision hereof that is prohibited or unenforceable
in any jurisdiction shall, as to that jurisdiction, be ineffective to the extent
of that prohibition or unenforceability in any jurisdiction shall not invalidate
or render unenforceable that provision in any other jurisdiction.

12.12 NO THIRD PARTY BENEFICIARIES.  Any Agreement contained, expressed or
implied in this Agreement shall be only for the benefit of the parties hereto
and their respective legal representatives, successors and assigns, and those
agreements shall not inure to the benefit of the obligees of any indebtedness of
any party hereto, it being the intention of the parties hereto that no Person
shall be deemed a third party beneficiary of this Agreement, except to the
extent a third party is expressly given rights herein.

12.13 COUNTERPARTS.  This Agreement may be executed in any number of
counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same instrument.  A facsimile of an
original signature shall be as binding on such person or entity as an original
signature would be.

12.14 NEGOTIATED TRANSACTION.  The provisions of this Agreement were negotiated
by the parties hereto, and this Agreement shall be deemed to have been drafted
by all of the parties hereto.

                                       33
<PAGE>

     IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as
of the date first above written.

                                   SELLER:

                                   THE INTELESIS GROUP, INC.

                                   By: /s/ Richard Sablon
                                       ----------------------------------
                                       Name:  Richard Sablon
                                       Title: President

                                   BUYER:

                                   FREECALLER COMMUNICATIONS CORPORATION F/K/A
                                   INTELESIS ACQUISITION CORP.

                                   By: /s/ Mitchell H. Bodian
                                       ----------------------------------
                                       Name:  Mitchell H. Bodian
                                       Title: President

                                   ASSIGNOR

                                   FREECALLER COMMUNICATIONS CORPORATION

                                   BY: /s/ Richard Sablon
                                       ----------------------------------
                                       Name:  Richard Sablon
                                       Title: President

                                       34
<PAGE>

                                   EXHIBIT B

                              ASSUMED LIABILITIES

                                       35
<PAGE>

                                   EXHIBIT C

                             SELLER'S RESOLUTIONS

                                       36
<PAGE>

                                   EXHIBIT D

                     ASSIGNMENT OF FREECALLER SERVICE MARK
                                      BY
                     FREECALLER COMMUNICATIONS CORPORATION

WHEREAS, Freecaller Communications Corporation, a Florida corporation, having an
address at 12062 S.W. 117 Court, Suite 132, Miami, Florida 33186, has adopted
and continuously used in its business the service mark FREECALLER/SM/ in
association with a variety of telecommunication services since at least as early
as January 16, 1998 (the "Mark"); and

WHEREAS, Freecaller Communications Corporation fka Intelesis Acquisition Corp.,
a Delaware corporation, having an address at 1250 Wood Branch Park Drive,
Houston, Texas 77079-1212, is desirous of acquiring the Mark and the goodwill
associated with the Mark;

NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency
of which is hereby acknowledged, Freecaller Communications Corporation, does
hereby assign to Freecaller Communications Corporation fka Intelesis Acquisition
Corp. all rights, title and interest in and to the Mark, together with the good
will of the business symbolized by the Mark, and the right to recover any
damages for past infringement, if any.

                                   Freecaller Communications Corporation

                                   By: /s/ Ricardo Sablon
                                       ---------------------------------------
                                       Ricardo Sablon
                                       President

Date:  10/28/99
     --------------

STATE OF FLORIDA    (S)
COUNTY OF DADE      (S)

Before me personally appeared the above identified individual and acknowledged
the foregoing assignment to be his voluntary act and deed on the 29 day of
October , 1999.

                                       /s/ Vickie Osburn
                                       ---------------------------------------
                                       Notary in and for the State of  Florida
                                       My commission expires: Aug. 20, 2002
                                                              -------------

                                       37
<PAGE>

                                   EXHIBIT E

                            COVENANT NOT TO COMPETE

Attached letter to be executed and delivered at closing by the following
persons:

1.  Todd Fisch
2.  Kirsten Fisch
3.  Richard Sablon
4.  Ilene Kaminsky

                                       38
<PAGE>

                                   EXHIBIT F

                                October   ,1999

The Intelesis Group, Inc.
11900 Biscayne Blvd.
Suite 262
Miami, Florida 33181

  RE:  Registration of Common Stock

Dear Sir or Madam:

Pursuant to that certain Asset Purchase Agreement by and among Intelesis
Acquisition Corp., The Intelesis Group, Inc., and Freecaller Communications
Corporation, Equalnet Communications Corp. hereby agrees that within 180 days
after the closing of said transaction, it will file an S-3 Registration
Statement with the Securities and Exchange Commission and will include in said
filing any common stock transferred to Intelesis pursuant to said Asset Purchase
Agreement.

Sincerely,

/s/ Mitchell H. Bodian
----------------------

Mitchell H. Bodian
President and CEO

                                       39
<PAGE>

                                   EXHIBIT H

               ASSIGNMENT OF SOFTWARE/PATENT PURCHASE AGREEMENT

WHEREAS, The Intelesis Group, Inc., fka The Intelesis Communications Group, Inc.
a Florida corporation, having an address at 12062 S.W. 117 Court, Suite 132,
Miami, Florida 33186, and Ricardo Sablon an individual resident of Miami Florida
on or about August 27, 1998 entered into that certain Software/Patent Purchase
Agreement (the "Agreement") attached hereto as Attachment 1, which superceded
and voided an earlier agreement dated June 9, 1998; and

WHEREAS, Freecaller Communications Corporation fka Intelesis Acquisition Corp.,
a Delaware corporation, having an address at 1250 Wood Branch Park Drive,
Houston, Texas 77079-1212, is desirous of acquiring all of Intelesis' rights in
and to the Agreement and is desirous of Ricardo Sablon expressly consenting to
said assignment

NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency
of which is hereby acknowledged, The Intelesis Group, Inc., fka The Intelesis
Communications Group, Inc. does hereby assign to Freecaller Communications
Corporation fka Intelesis Acquisition Corp. all rights, title and interest in
and to the Agreement, and Ricardo Sablon does hereby consent to this Assignment.
Both, The Intelesis Group, Inc. fka The Intelesis Communications Group, Inc. and
Ricardo Sablon warrant and represent that the Agreement is in full force and
effect; that there have been no defaults or terminations or notices of either;
that Ricardo Sablon has continued to and will continue to use his best efforts
to complete the patent process on said software; that the indemnification
provisions of the foregoing Asset Purchase Agreement are in effect with respect
to Assignors herein; that Freecaller Communications Corporation fka Intelesis
Acquisition Corp. is now "Purchaser" as defined in the Agreement and as such
owns all right, title and interest in the subject matter defined as "software",
any patent applications describing and claiming this subject matter and any
patents worldwide that have issued or may issue in the future; that the earlier
agreement dated June 9, 1998 is superceded by the Agreement and is null, void
and of no further force and effect and that The Intelesis Group, Inc, fka The
Intelesis Communications Group, Inc. and Ricardo Sablon will take all reasonable
action in the future to confirm ownership of said software and any patents
issuing on said software and to allow full use of said rights by, Freecaller
Communications Corporation.

                                     The Intelesis Group, Inc.

                                     By: /s/ Ricardo Sablon
                                         ----------------------

Date: 10/28/99
     ---------------------

                                         /s/ Ricardo Sablon
                                         ----------------------
                                         Ricardo Sablon

                                       40
<PAGE>

STATE OF FLORIDA    (S)
COUNTY OF DADE      (S)

Before me personally appeared the above identified individuals and officers and
acknowledged the foregoing assignment to be their voluntary act and deed on the
29 day of October, 1999.

                                    Vickie Osburn
                                    ------------------------------------
                                    Notary in and for the State of Texas
                                    My commission expires: Aug.20,2002
                                                           -------------

                                       41
<PAGE>

                                   EXHIBIT I

               ASSIGNMENT OF COMMON LAW TRADE AND SERVICE MARKS
                                      BY
                     FREECALLER COMMUNICATIONS CORPORATION
                                      AND
                           THE INTELESIS GROUP, INC.

WHEREAS, Freecaller Communications Corporation, and/or The Intelesis Group, Inc.
both Florida corporations having an address at 12062 S.W. 117 Court, Suite 132,
Miami, Florida 33186, has adopted and continuously used in its business the
following service marks in association with a variety of telecommunication
services since at least as early as January 16, 1998, FREECALLER MEDIA,
FREECALLER TALKER, CONSUMER PREFERENCE INQUIRY, CALL PROCESSING UNIT, and
FREECALLER LEADS ON DEMAND (the "Marks") and has accrued certain common law
rights and goodwill in the Marks; and

WHEREAS, Freecaller Communications Corporation fka Intelesis Acquisition Corp.,
a Delaware corporation, having an address at 1250 Wood Branch Park Drive,
Houston, Texas 77079-1212, is desirous of acquiring the Marks and the goodwill
associated with the Marks;

NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency
of which is hereby acknowledged, Freecaller Communications Corporation, and The
Intelesis Group, Inc. do hereby assign to Freecaller Communications Corporation
fka Intelesis Acquisition Corp. all rights, title and interest in and to the
Marks, together with the good will of the business symbolized by the Names, and
the right to recover any damages for past infringement, if any.

                                     Freecaller Communications Corporation

                                     By: /s/ Ricardo Sablon
                                         -------------------------------
                                         Ricardo Sablon
                                         President

Date: 10/28/99
      -------------

                                     The Intelesis Group, Inc.

                                     By: /s/ Ricardo Sablon
                                         -------------------------------

Date: 10/28/99
      -------------

                                       42
<PAGE>

STATE OF FLORIDA    (S)
COUNTY OF DADE      (S)

Before me personally appeared the above identified officers and acknowledged the
foregoing assignment to be their voluntary act and deed on the 29 day of
October, 1999.

                                       Vickie Osburn
                                       ------------------------------------
                                       Notary in and for the State of Texas
                                       My commission expires: Aug. 20, 2002
                                                              -------------

                                       43
<PAGE>

                                   EXHIBIT J

                          ASSIGNMENT OF DOMAIN NAMES
                                      BY
                     FREECALLER COMMUNICATIONS CORPORATION
                                      AND
                           THE INTELESIS GROUP, INC.

WHEREAS, Freecaller Communications Corporation, and/or The Intelesis Group, Inc.
both Florida corporations having an address at 12062 S.W. 117 Court, Suite 132,
Miami, Florida 33186, has adopted and used in its business the following domain
names in association with advertiser sponsored telecommunication services since
at least as early as January 16, 1998, freecaller.com; freetalker.com;
freecaller.net; and freecallermedia.com (the "Names") and has accrued certain
rights in the Names; and

WHEREAS, Freecaller Communications Corporation fka Intelesis Acquisition Corp.,
a Delaware corporation, having an address at 1250 Wood Branch Park Drive,
Houston, Texas 77079-1212, is desirous of acquiring the Names, all registrations
associated with the Names and the goodwill associated with the Names;

NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency
of which is hereby acknowledged, Freecaller Communications Corporation, and The
Intelesis Group, Inc. do hereby assign to Freecaller Communications Corporation
fka Intelesis Acquisition Corp. all rights, title and interest in and to the
Names and all registrations associated with the Names together with the good
will of the business symbolized by the Names, and the right to recover any
damages for past infringement, if any. Both, The Intelesis Group, Inc., and
Freecaller Communications Corporation agree to fully cooperate in notifying all
domain registration entities, as, and with the changes and information,
requested by Freecaller Communications Corporation fka Intelesis Acquisition
Corp.

                                   Freecaller Communications Corporation

                                   By: /s/ Ricardo Sablon
                                       -------------------------------
                                       Ricardo Sablon
                                       President

Date: 10/28/99
      -----------------

                                   The Intelesis Group, Inc.

                                   By: /s/ Ricardo Sablon
                                       -------------------------------

Date: 10/28/99
    -------------------------

                                       44
<PAGE>

STATE OF FLORIDA    (S)
COUNTY OF DADE      (S)

Before me personally appeared the above identified officers and acknowledged the
foregoing assignment to be their voluntary act and deed on the 29 day of
October, 1999.

                                       Vickie Osburn
                                       -------------------------------------
                                       Notary in and for the State of  Texas
                                       My commission expires: Aug. 20, 2002
                                                              --------------

                                       45
<PAGE>

                                   EXHIBIT K

                             ASSIGNMENT OF RIGHTS
                                      BY
                     FREECALLER COMMUNICATIONS CORPORATION
                                      AND
                           THE INTELESIS GROUP, INC.

WHEREAS, Freecaller Communications Corporation, and/or The Intelesis Group, Inc.
both Florida corporations having an address at 12062 S.W. 117 Court, Suite 132,
Miami, Florida 33186, has used in its business in association with advertiser
sponsored telecommunication services since at least as early as January 16,
1998, certain inventions, trade secrets, technical know-how, and proprietary
information, including all intellectual and intangible property related to
advertiser sponsored telecommunication services (the "Rights") and has accrued
certain rights in the Rights; and

WHEREAS, Freecaller Communications Corporation fka Intelesis Acquisition Corp.,
a Delaware corporation, having an address at 1250 Wood Branch Park Drive,
Houston, Texas 77079-1212, is desirous of acquiring the Rights, including any
rights that have accrued in the Rights, and the goodwill associated with the
Mark;

NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency
of which is hereby acknowledged, Freecaller Communications Corporation, and The
Intelesis Group, Inc. do hereby assign to Freecaller Communications Corporation
fka Intelesis Acquisition Corp. all rights, title and interest in and to the
Rights and any rights that have accrued in the Rights, together with the good
will of the business symbolized by the Names, and the right to recover any
damages for past infringement, if any.

                                   Freecaller Communications Corporation

                                   By: /s/ Ricardo Sablon
                                       -------------------------------
                                       Ricardo Sablon
                                       President

Date: 10/28/99
      -----------------

                                   The Intelesis Group, Inc.

                                   By: /s/ Ricardo Sablon
                                       -------------------------------

Date: 10/28/99
      -----------------

                                       46
<PAGE>

STATE OF FLORIDA    (S)
COUNTY OF DADE      (S)

Before me personally appeared the above identified officers and acknowledged the
foregoing assignment to be their voluntary act and deed on the 29 day of
October, 1999.

                                       Vickie Osburn
                                       -------------------------------------
                                       Notary in and for the State of  Texas
                                       My commission expires: Aug. 20, 2002
                                                              --------------

                                       47

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