Document:

<PAGE>

NO SALE OR TRANSFER OF THIS WARRANT OR THE SECURITIES UNDERLYING THIS WARRANT
MAY BE MADE UNTIL THE EFFECTIVENESS OF A REGISTRATION STATEMENT OR OF A
POST-EFFECTIVE AMENDMENT THERETO UNDER THE SECURITIES ACT OF 1933, AS AMENDED
(THE "ACT"), COVERING THIS WARRANT OR THE SECURITIES UNDERLYING THIS WARRANT,
OR UNTIL THE COMPANY IS IN RECEIPT OF AN OPINION OF COUNSEL SATISFACTORY TO THE
COMPANY STATING THAT SUCH SALE OR TRANSFER IS EXEMPT FROM THE REGISTRATION
REQUIREMENTS OF THE ACT. TRANSFER OF THIS WARRANT IS RESTRICTED UNDER PARAGRAPH
2 BELOW.

                   PLACEMENT AGENT'S WARRANT TO PURCHASE UNITS

                            VIANET TECHNOLOGIES, INC.
                             (a Nevada corporation)

                            Dated: ___________, 2000

PAW-__

                  THIS CERTIFIES THAT ("Holder") is entitled to purchase from
Vianet Technologies, Inc., a Nevada corporation (the "Company"), up to
_________units (the "Units") at an exercise price (the "Exercise Price") of
$100,000 per Unit, each Unit consisting of (i) 66,666 shares of the Company's
common stock ("Common Stock"); (ii) 66,666 Class A Common Stock purchase
warrants (the "Class A Warrants"), each Warrant entitling the holder thereof to
purchase one share of Common Stock at an exercise price that is equal to $2.00;
(iii) 66,666 Class B Common Stock purchase warrants (the "Class B Warrants"),
each Warrant entitling the holder thereof to purchase one share of Common Stock
at an exercise price that is equal to $2.50; and (iv) 66,666 Class C Common
Stock purchase warrants (the "Class C Warrants"), each Warrant entitling the
holder thereof to purchase one share of Common Stock at an exercise price that
is equal to $3.00. The Class A Warrants, the Class B Warrants and the Class C
Warrants shall hereinafter collectively be referred to as the "Warrants." The
Units, together with the Common Stock and Warrants shall also be referred to
hereinafter as the "Securities." The holder shall be entitled to purchase the
Warrants on terms identical to the Investor Warrants (as hereinafter defined).

This Placement Agent's Warrant is issued in connection with a private offering
of a minimum of $________ and a maximum of $_________ of Units (the "Investor
Units").

                                       1
<PAGE>

         1.       Exercise of the Placement Agent's Warrant.

                  (a) The rights represented by this Placement Agent's Warrant
shall be exercised at the prices and during the periods as follows:

                           (i) Between the date hereof and _________, 2005,
inclusive, the Holder shall have the option to purchase the Units hereunder at a
price of $100,000 per Unit (the "Unit Exercise Price") subject to adjustment as
provided in paragraph 8 hereof.

                           (ii) This Placement Agent's Warrant shall expire
effective at 5:00 p.m., (New York time) on _________, 2005, after which time the
Holder shall have no right to purchase any Securities hereunder.

                  (b) The rights represented by this Placement Agent's Warrant
may be exercised at any time within the period above specified, in whole or in
part, by (i) the surrender of the Placement Agent's Warrant (with the purchase
form at the end hereof properly executed) at the principal executive office of
the Company (or such other office or agency of the Company as it may designate
by notice in writing to the Holder at the address of the Holder appearing on the
books of the Company); (ii) payment to the Company of the respective exercise
price then in effect for the number of Securities specified in the
above-mentioned purchase form together with applicable stock transfer taxes, if
any; and (iii) delivery to the Company of a duly executed agreement signed by
the person(s) designated in the purchase form to the effect that such person(s)
agree(s) to be bound by the provisions of paragraph 5 and of paragraph 6 hereof.
The Placement Agent's Warrant shall be deemed to have been exercised, in whole
or in part to the extent specified, immediately prior to the close of business
on the date the Placement Agent's Warrant is surrendered and payment is made in
accordance with the foregoing provisions of this paragraph 1, and the person or
persons in whose name or names the certificates for the shares of Common Stock
and/or Warrants underlying the Units shall be issuable upon such exercise shall
become the holder or holders of record of such shares of Common Stock and/or
Warrants at that time and date. Certificates representing the shares of Common
Stock and/or Warrants underlying the Units, so purchased shall be delivered to
the Holder within a reasonable time, not exceeding ten (10) business days, after
the rights represented by this Placement Agent's Warrant shall have been so
exercised.

                                       2
<PAGE>

                  (c) This Warrant also shall entitle the holder to receive (the
"Right"), at the option of the Holder, without payment of cash or property to
the Company, a number of shares of Common Stock and/or Warrants, as the case may
be, which shall be determined by dividing (i) that portion, as elected by the
Holder, of the total number of shares of Common Stock and/or Warrants, as the
case may be, which the Holder is eligible to purchase hereunder (and as adjusted
pursuant to Section 7 hereof), multiplied by the amount (if any) by which the
fair market value (as determined by the closing price of the Company's Common
Stock and/or the fair market value of the Warrants, as the case may be, on the
date on which notice of exercise of this Warrant is delivered to the Company) of
a share of Common Stock and/or a Warrant, as the case may be, on the exercise
date exceeds the option exercise price hereof; by (ii) the fair market value of
a share of Common Stock and/or Warrant, as the case may be, on the exercise
date. In lieu of issuing shares of Common Stock and/or Warrants, as the case may
be, on the exercise of this Right, the Board of Directors may elect to pay the
cash equivalent of the fair market value on the exercise date of any or all the
shares of Common Stock and/or Warrants, as the case may be, which would
otherwise be issuable on exercise of this Right. No fractional shares of Common
Stock or Warrants shall be issued under this Subsection. In lieu of fractional
shares of Common Stock or Warrants, the Holder shall be entitled to receive a
cash adjustment equal to the same fraction of the fair market value per share of
Common Stock or Warrant, as the case may be, on the date of exercise.

         2.       Restrictions on Transfer.

                  This Placement Agent's Warrant shall not be transferred, sold,
pledged, assigned, or hypothecated unless such assignment shall be effected by
the Holder by (i) completing and executing the form of assignment at the end
hereof and (ii) surrendering this Placement Agent's Warrant with such duly
completed and executed assignment form for cancellation at the office or agency
of the Company referred to in Paragraph 9 hereof; whereupon the Company shall
issue, in the name or names specified by the Holder (including the Holder) a new
Placement Agent's Warrant or Placement Agent's Warrants of like tenor and
representing in the aggregate rights to purchase the same number of Securities
as are then purchasable hereunder.

         3.       Covenants of the Company

                  (a) The Company covenants and agrees that all Common Stock
underlying the Units issuable upon exercise of this Placement Agent's Warrant or
upon exercise of the Warrants underlying the Units will, upon issuance, be duly
and validly issued, fully paid and nonassessable and no personal liability will
attach to the Holder thereof by reason of being such a Holder, other than as set
forth herein.

                  (b) The Company covenants and agrees that during the period
within which this Placement Agent's Warrant may be exercised, the Company will
at all times have authorized and reserved a sufficient number of shares of
Common Stock underlying the Units issuable upon the exercise of this Placement
Agent's Warrant and for the exercise of the Warrants underlying the Units.

                                       3
<PAGE>

         4.       No Rights of Stockholder.

                  This Placement Agent's Warrant shall not entitle the Holder to
any voting rights or other rights as a stockholder of the Company, either at law
or in equity, and the rights of the Holder are limited to those expressed in
this Placement Agent's Warrant and are not enforceable against the Company
except to the extent set forth herein.

         5.       Registration Rights.

                  At any time after the first closing (with respect to demand
registration rights) and during the four year period following the first closing
(with respect to piggyback registration rights), the Holder will be entitled to
exercise demand and piggyback registration rights which, as to the demand
registration rights will be identical to the registration rights granted to the
investors in the Units pursuant to their subscription agreements with the
Company.

         6.       Indemnification.

                  (a) Whenever pursuant to Paragraph 5, a registration statement
relating to any Registerable Securities is filed under the Act, amended or
supplemented, the Company will indemnify and hold harmless each Holder of the
Registerable Securities covered by such registration statement, amendment or
supplement (such holder hereinafter referred to as the "Distributing Holder"),
each person, if any, who controls (within the meaning of the Act) the
Distributing Holder, and each officer, employee, partner or agent of the
Distributing Holder, if the Distributing Holder is a broker or dealer, against
any losses, claims, damages or liabilities, joint or several, to which the
Distributing Holder may become subject under the Act 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 any material fact contained in any such registration statement or any
preliminary prospectus or final prospectus constituting a part thereof or any
amendment or supplement thereto, or arise out of or are based upon the omission
to state therein a material fact required to be stated therein or necessary to
make the statements therein not misleading; and will reimburse the Distributing
Holder for any legal or other expenses reasonably incurred by the Distributing
Holder, in connection with investigating or defending any such loss, claim,
damage, liability or action; provided, however, that the Company will not be
liable in any such case (i) to the extent that any such loss, claim, damage or
liability arises out of or is based upon an untrue statement or alleged untrue
statement or omission or alleged omission made in said registration statement,
said preliminary prospectus, said final prospectus or said amendment or
supplement in reliance upon and in conformity with written information furnished
by such Distributing Holder each person, if any, who controls (within the
meaning of the Act) the Distributing Holder, and each officer, employee, partner
or agent of the Distributing Holder, any other Distributing Holder or any such
underwriter for use in the preparation thereof, and (ii) such losses, claims,
damages or liabilities arise out of or are based upon any actual or alleged
untrue statement or omission made in or from any preliminary prospectus, but
corrected in the final prospectus, as amended or supplemented.

                                       4
<PAGE>

                  (b) Whenever pursuant to Paragraph 5 a registration statement
relating to the Registerable Securities is filed under the Act, or is amended or
supplemented, the Distributing Holder will indemnify and hold harmless the
Company, each of its directors, each of its officers who have signed said
registration statement and such amendments and supplements thereto, and each
person, if any, who controls the Company (within the meaning of the Act) and
each officer, employee, partner or agent of the Company against any losses,
claims, damages or liabilities to which the Company or any such director,
officer, controlling person, employee, partner or agent may become subject under
the Act or otherwise, insofar as such losses, claims, damages or liabilities (or
actions in respect thereof) arise out of or are based upon any untrue or alleged
untrue statement of any material fact contained in any such registration
statement or any preliminary prospectus or final prospectus constituting a part
thereof, or any amendment or supplement thereto, or arise out of or are based
upon the omission or the alleged omission to state therein a material fact
required to be stated therein or necessary to make the statements therein not
misleading, in each case to the extent, but only to the extent that such untrue
statement or alleged untrue statement or omission was made in said registration
statement, said preliminary prospectus, said final prospectus or said amendment
or supplement in reliance upon and in conformity with written information
furnished by such Distributing Holder for use in the preparation thereof; and
will reimburse the Company or any such director, officer, controlling person,
employee, partner or agent for any legal or other expenses reasonably incurred
by them in connection with investigating or defending any such loss, claim,
damage, liability or action.

                  (c) Promptly after receipt by an indemnified party under this
Paragraph 6 of notice of the commencement of any action, such indemnified party
will, if a claim in respect thereof is to be made against any indemnifying
party, give the indemnifying party notice of the commencement thereof; but the
omission to so notify the indemnifying party will not relieve it from any
liability which it may have to any indemnified party otherwise than under this
Paragraph 6.

                  (d) In case any such action is brought against any indemnified
party, and it notifies an indemnifying party of the commencement thereof, the
indemnifying party will be entitled to participate in, and, to the extent that
it may wish, jointly with any other indemnifying party similarly notified, to
assume the defense thereof with counsel reasonably satisfactory to such
indemnified party, and after notice from the indemnifying party to such
indemnified party of its election to so assume the defense thereof, the
indemnifying party will not be liable to such indemnified party under this
Paragraph 6 for any legal or other expenses subsequently incurred by such
indemnified party in connection with the defense thereof other than reasonable
costs of investigation.

         7.       Adjustments of Purchase Price and Number of Shares.

                  (a) Subdivision and Combination. In case the Company shall at
any time subdivide or combine the outstanding shares of Common Stock by way of
stock split, reverse stock split or the like, the Exercise Prices shall
forthwith be proportionately increased or decreased.

                                       5
<PAGE>

                  (b) Adjustment in Number of Shares. Upon each adjustment of
the Exercise Price pursuant to the provisions of this Section 7, the number of
Units issuable upon the exercise of this Placement Agent Warrant shall be
adjusted to a number of Units that is determined by multiplying a number equal
to the Exercise Price in effect immediately prior to such adjustment by the
number of Units issuable upon exercise of this Placement Agent Warrant
immediately prior to such adjustment and dividing the product so obtained by the
adjusted Exercise Price.

                  (c) Reclassification, Consolidation, Merger, etc. In case of
any reclassification or change of the outstanding shares of Common Stock (other
than a change in par value to no par value, or from no par value to par value,
or as a result of a subdivision or combination), or in the case of any
consolidation of the Company with, or merger of the Company into, another
corporation (other than a consolidation or merger in which the Company is the
surviving corporation and which does not result in any reclassification or
change of the outstanding shares of Common Stock, except a change as a result of
a subdivision or combination of such shares or a change in par value, as
aforesaid), or in the case of a sale or conveyance to another corporation of all
or a substantial part of the property of the Company, the Holder shall
thereafter have the right to purchase the kind and number of shares of stock and
other securities and property receivable upon such reclassification, change,
consolidation, merger, sale or conveyance as if the Holder were the owner of the
Units, and the securities underlying the Units, immediately prior to any such
events at a price equal to the product of (x) the number of Units issuable upon
exercise of this Placement Agent Warrant and (y) the Exercise Price in effect
immediately prior to the record date for such reclassification, change,
consolidation, merger, sale or conveyance as if such Holder had exercised this
Placement Agent Warrant

                  (d) Dividends and Other Distributions with Respect to
Outstanding Securities. In the event that the Company shall at any time prior to
the exercise of this Placement Agent Warrant declare a dividend (other than a
dividend consisting solely of shares of Common Stock or a cash dividend or
distribution payable out of current or retained earnings) or otherwise
distribute to its shareholders any monies, assets, property, rights, evidences
of indebtedness, securities (other than shares of Common Stock), whether issued
by the Company or by another person or entity, or any other thing of value, the
Holder of the unexercised Placement Agent Warrant shall thereafter be entitled,
in addition to the shares of Common Stock or other securities receivable upon
the exercise thereof, to receive, upon the exercise of such Placement Agent
Warrants, the same monies, property, assets, rights, evidences of indebtedness,
securities or any other thing of value that they would have been entitled to
receive at the time of such dividend or distribution. At the time of any such
dividend or distribution, the Company shall make appropriate reserves to ensure
the timely performance of the provisions of this Subsection 7(d).

                  (e) Effect of Market Price of the Common Stock. At the time
any of the Common Stock issued to Investors pursuant to the Offering initially
becomes publicly saleable (either pursuant to Rule 144 promulgated under the Act
or because a registration statement filed under the Act covering such shares is
declared effective by the Securities and Exchange Commission), if the preceding
30 trading day average of the closing prices of the Common Stock (as reported by
the securities exchange on which the Common Stock is then listed, Nasdaq, the
Bulletin Board, NQB or other reporting agency, as the case may be) (the "Later
Market Value") is less than the Class A Exercise Price, then the Class A
Exercise Price, Class B Exercise Price and Class C Exercise Price shall be
adjusted to equal 100%, 125% and 150%, respectively, of the Later Market Value
(except that none of the respective Exercise Prices may be reduced by more than
one-third). Any such readjustment in the Exercise Prices of the Warrants shall
only apply to the unexercised portion of the Warrants.

                                       6
<PAGE>

                  (f) Fractional Shares. Any fraction of a share or warrant
underlying the Units which the holder of this Warrant would be entitled to
purchase upon exercise of this Placement Agent's Warrant shall be rounded down
to the nearest whole number of shares or warrants, respectively. The Holder, by
his acceptance hereof, expressly waives any right to receive any fractional
share of stock or fractional Warrant upon exercise of this Placement Agent's
Warrant.

                  (i) Warrant Certificate After Adjustment. Irrespective of any
change pursuant to this Section (7) in the Warrant Exercise Price or Share
Exercise Price or in the number, kind or class of shares or other securities or
other property obtainable upon exercise of this Placement Agent's Warrant, this
Placement Agent's Warrant may continue to express as the Warrant Exercise Price
or Share Exercise Price and as the number of Shares and Warrants obtainable upon
exercise, the same price and number of shares as are stated herein.

                  (j) Statement of Calculation. Whenever the Exercise Price
shall be adjusted pursuant to the provisions of this Section (7), the Company
shall forthwith file at its principal office, a statement signed by an executive
officer of the Company specifying the adjusted Exercise Price determined as
above provided in such section and a certificate of the independent public
accountants regularly retained by the Company. Such statement shall show in
reasonable detail the method of calculation of such adjustment and the facts
requiring the adjustment and upon which the calculation is based. The Company
shall forthwith cause a notice setting forth the adjusted Exercise Price to be
sent by certified mail, return receipt requested, postage prepaid, to the
Holder.

         8.       Definition of "Common Stock."

                  For the purpose of this Placement Agent's Warrant, the term
"Common Stock" shall mean, in addition to the class of stock designated as the
Common Stock of the Company on the date hereof, any class of stock resulting
from successive changes or reclassifications of the Common Stock consisting
solely of changes in par value, or from par value to no par value, or from no
par value to par value. If at any time, as a result of an adjustment made
pursuant to one or more of the provisions of Section (7) hereof, the shares of
stock or other securities or property obtainable upon exercise of this Placement
Agent's Warrant shall include securities of the Company other than shares of
Common Stock or securities of another corporation, then thereafter the amount of
such other securities so obtainable shall be subject to adjustment from time to
time in a manner and upon terms as nearly equivalent as practicable to the
provisions with respect to Common Stock contained in Section (7) hereof and all
other provisions of this Placement Agent's Warrant with respect to Common Stock
shall apply on like terms to any such other shares or other securities.

         9.       Miscellaneous.

                  (a) This Placement Agent's Warrant shall be governed by and in
accordance with the laws of the State of Delaware.

                                       7
<PAGE>

                  (b) All notices, requests, consents and other communications
hereunder shall be made in writing and shall be deemed to have been duly made
when delivered, or mailed by registered or certified mail, return receipt
requested: (i) if to a Holder, to the address of such Holder as shown on the
books of the Company, or (ii) if to the Company, Vianet Technologies, Inc.,
83Mercer Street, New York, NY 10012.

                  (c) The Company and the Placement Agent may from time to time
supplement or amend this Placement Agent's Warrant without the approval of any
other Holders in order to cure any ambiguity, to correct or supplement any
provision contained herein which may be defective or inconsistent with any
provisions herein, or to make any other provisions in regard to matters or
questions arising hereunder which the Company and the Placement Agent may deem
necessary or desirable and which the Company and the Placement Agent deem not to
adversely affect the interest of the Holders, provided all such supplements,
amendments and/or other provisions shall be in writing.

                  (d) All the covenants and provisions of this Placement Agent's
Warrant by or for the benefit of the Company and the Holders inure to the
benefit of their respective successors and assigns hereunder.

                  (e) Nothing in this Placement Agent's Warrant shall be
construed to give to any person or corporation other than the Company and the
Placement Agent and any other registered Holder or Holders, any legal or
equitable right and that any such right is for the sole and exclusive benefit of
the Company and the Placement Agent and any other Holder or Holders.

                  (f) This Placement Agent's Warrant may be executed in any
number of counterparts and each of such counterparts shall for all purposes be
deemed to be an original, and such counterparts shall together constitute but
one and the same instrument.

                  IN WITNESS WHEREOF, the President of the Company has caused
this Placement Agent's Warrant to be signed by its duly authorized officer and
this Placement Agent's Warrant to be dated _________, 2000.

                                          VIANET TECHNOLOGIES, INC.

                                          ____________________________
                                          Name: Peter Leighton
                                          Title: President

                                       8
<PAGE>

                                  PURCHASE FORM

       (To be signed only upon exercise of the Placement Agent's Warrant)

                  The undersigned, the Holder of the foregoing Placement Agent's
Warrant, hereby irrevocably elects to exercise the purchase rights represented
by such Placement Agent's Warrant for, and to purchase thereunder, ______ Units
of Vianet Technologies, Inc. and herewith makes payment of $________ thereof,
and requests that the certificates for the Common Stock and Warrants underlying
the Units be issued in the name(s) of, and delivered to ______________________
whose address(es) is (are) ___________________________________________________

Dated: __________________

_________________________

_________________________
Address

                                       9
<PAGE>

                                  TRANSFER FORM

       (To be signed only upon transfer of the Placement Agent's Warrant)

                  For value received, the undersigned hereby sells, assigns, and
transfers unto _____________________ the right to purchase Units of Vianet
Technologies, Inc. represented by the foregoing Placement Agent's Warrant to the
extent of __________ Units and appoints ________________, attorney to transfer
such rights on the books of ________________, with full power of substitution in
the premises.

Dated: __________________

_________________________
(name of holder)

_________________________
Address

_________________________

_________________________
In the presence of:

_________________________

_________________________

                                       10<PAGE>

                             SUBSCRIPTION AGREEMENT

                            VIANET TECHNOLOGIES, INC.

         Subscription Agreement for the Purchase of Units consisting of
     Common Stock, Class A Warrants, Class B, Warrants and Class C Warrants

                  The undersigned (the "Investor") hereby subscribes for the
number of units ("Units") set forth on page 13 hereof of Vianet Technologies,
Inc. (the "Company"), each Unit consisting of (i) 66,666 shares of the Company's
common stock ("Common Stock"); (ii) 66,666 Class A Common Stock purchase
warrants (the "Class A Warrants"), each Warrant entitling the holder thereof to
purchase one share of Common Stock at an exercise price that is equal to $2.00;
(iii) 66,666 Class B Common Stock purchase warrants (the "Class B Warrants"),
each Warrant entitling the holder thereof to purchase one share of Common Stock
at an exercise price that is equal to $2.50; and (iv) 66,666 Class C Common
Stock purchase warrants (the "Class C Warrants"), each Warrant entitling the
holder thereof to purchase one share of Common Stock at an exercise price that
is equal to $3.00. The Class A Warrants, the Class B Warrants and the Class C
Warrants shall hereinafter collectively be referred to as the "Warrants." The
Units are being offered in connection with the Company's private placement (the
"Offering") of a maximum of $2,000,000 (the "Offering") of Units at a price of
$100,000 per Unit. The Offering shall be on a "best efforts" basis.

         The number of shares of Common Stock included with a Unit was
determined by dividing the per Unit purchase price of $100,000 by $1.50. For
each share of Common Stock included within a Unit, a Class A Warrant, a Class B
Warrant and a Class C Warrant were also included.

                                       1
<PAGE>

         At the time that 50% of the Common Stock becomes publicly saleable
(either pursuant to Rule 144 promulgated under the Securities Act of 1933, as
amended (the "Securities Act"), or because a registration statement filed under
the Securities Act covering such shares is declared effective by the Securities
and Exchange Commission (the "SEC")), (the "First Measuring Date") and at the
expiration of any Lock-up Period (the "Second Measuring Date") if closing prices
of the Common Stock (as reported by the Bulletin Board, The Nasdaq Stock Market
or a securities exchange, depending upon where the Company's Common Stock is
then traded or listed) (the "Later Market Value") is less than $2.14 per share
(the "Base Market Value"), the Investor shall be entitled to receive additional
Common Stock as if the Offering had been based upon the Later Market Value
(rounded up to the next whole cent) (but in no event more than an additional
100% of the original shares of Common Stock issued to the Investor). For
example, if on either Measuring Date the price of the Common Stock is $2.00,
then the investors will receive such number of shares of Common Stock so as to
make the assumed Offering Price per share $1.40 (a 30% discount from $2.00). The
right to receive additional Common Stock shall not be deemed attached to the
purchased Common Stock and Warrants, and shall not be considered transferred to
any person who acquires such originally purchased Common Stock and Warrants.

                  In addition, in the event that the closing price of the
Company's Common Stock is less than $2.14 on the effective date of the Company's
next registration statement, then the Exercise Price of the Warrants shall be
adjusted as to reflect the closing price of the Common Stock on that day, which
shall be deemed the new Exercise Price. Any such readjustment in the Exercise
Price of the Warrants shall only apply to the unexercised portion of the
Warrants.

                   By accepting this subscription, the Company hereby agrees to
have an effective Registration Statement ("Registration Statement") registering
all the Common Stock underlying the Units (including the common Stock underlying
the Warrants which are part of the Units) within 120 days of the final closing
("Final Closing") of the private placement of the Company's securities. In the
event that the Registration Statement is not effective in 120 days from the
Final Closing, the Company will pay to the holders an aggregate of 1% of all the
securities sold in the Offering for the first 30 days after the 120 day period
following the Final Closing and 2% of such securities for every 30 day period
thereafter.

                  In connection with the Offering, the Company may engage the
services of an NASD member firm to act as a placement agent, in which case such
NASD member firm shall be entitled to receive a commission of 10% of the gross
proceeds derived from the sale of Units and warrants to purchase up to 10% of
the aggregate amount of Units sold in the Offering (the "Agent's Warrants"),
except that any such placement agent shall not be entitled to any commission on
Units placed by the Company.

                                       2
<PAGE>

                  The undersigned agrees to pay an aggregate of $100,000 as a
subscription for each Unit being purchased hereunder. The entire purchase price
is due and payable upon the execution of this Subscription Agreement, and shall
be payable by wire transfer or check subject to collection, to the order of
"Continental Stock Transfer & Trust Company, as Agent for Vianet Technologies,
Inc." The wire transfer instructions are as follows:

         Name:             Continental Stock Transfer & Trust Company, as Escrow
                           Agent for Vianet Technologies, Inc.
         Account Number:   777 777 444
         Bank:             Chase Bank, 52 Broadway, New York, NY
         ABA Number:       021 000 021

                  The Company shall have the right to reject this subscription
in whole or in part.

                  The undersigned acknowledges that the Unit(s) being purchased
hereunder have not been registered under the Securities Act, or the securities
laws of any state, that, absent an exemption from registration contained in
those laws, the Unit(s) and the securities underlying the Unit(s) would require
registration, and that the Company's reliance upon such exemption is based upon
the undersigned's representations, warranties, and agreements contained in this
Subscription Agreement and the accompanying Confidential Prospective Purchaser
Questionnaire (collectively, the "Subscription Documents").

                  1. The undersigned represents, warrants, and agrees as
follows:

                      a. The undersigned agrees that this Subscription Agreement
is and shall be irrevocable.

                      b. The undersigned has carefully read the Confidential
Private Offering Memorandum, dated January 24, 2000, and exhibits thereto (the
"Memorandum"), and the Subscription Documents (collectively, the "Offering
Materials"), all of which the undersigned acknowledges has been provided to the
undersigned. The undersigned has been given the opportunity to ask questions of,
and receive answers from, the Company concerning the terms and conditions of
this Offering and the Offering Materials and to obtain such additional
information, to the extent the Company possesses such information or can acquire
it without unreasonable effort or expense, necessary to verify the accuracy of
same as the undersigned reasonably desires in order to evaluate the investment.
The undersigned understands the Offering Materials, and the undersigned has had
the opportunity to discuss any questions regarding any of the Offering Materials
with his counsel or other advisor. Notwithstanding the foregoing, the only
information upon which the undersigned has relied is that set forth in the
Offering Materials. The undersigned has received no representations or
warranties from the Company, its employees, agents or attorneys in making this
investment decision other than as set forth in the Offering Materials. The
undersigned does not desire to receive any further information.

                      c. The undersigned is aware that the purchase of the
Unit(s) is a speculative investment involving a high degree of risk, that there
is no guarantee that the undersigned will realize any gain from this investment,
and that the undersigned could lose the total amount of this investment. The
undersigned has specifically reviewed the section in the Memorandum entitled
"Risk Factors."

                      d. The undersigned understands that no federal or state
agency has made any finding or determination regarding the fairness of this
Offering, or any recommendation or endorsement of this Offering.

                                       3
<PAGE>

                      e. The undersigned is purchasing the Unit(s) for the
undersigned's own account, with the intention of holding the Unit(s) and with no
present intention of dividing or allowing others to participate in this
investment or of reselling or otherwise participating, directly or indirectly,
in a distribution of the Unit(s), and shall not make any sale, transfer, or
pledge thereof without registration under the Securities Act and any applicable
securities laws of any state or unless an exemption from registration is
available under those laws.

                      f. The undersigned represents that he is an "accredited
investor," as such term is defined in Rule 501 of Regulation D promulgated under
the Securities Act. The Investor is referred to the section of the Memorandum
entitled "Plan of Distribution - Investor Suitability Standards" for a full
explanation of such term.

                      g. The undersigned represents that, if an individual, he
has adequate means of providing for his or her current needs and personal and
family contingencies and has no need for liquidity in this investment in the
Unit(s). The undersigned has no reason to anticipate any material change in his
or her personal financial condition for the foreseeable future.

                      h. The undersigned is financially able to bear the
economic risk of this investment, including the ability to hold the Unit(s)
indefinitely, or to afford a complete loss of his investment in the Unit(s).

                      i. The undersigned represents that the undersigned's
overall commitment to investments which are not readily marketable is not
disproportionate to the undersigned's net worth, and the undersigned's
investment in the Unit(s) will not cause such overall commitment to become
excessive. The undersigned understands that the statutory basis on which the
Unit(s) are being sold to the undersigned and others would not be available if
the undersigned's present intention were to hold the Unit(s) for a fixed period
or until the occurrence of a certain event. The undersigned realizes that, in
the view of the SEC, a purchase now with a present intent to resell by reason of
a foreseeable specific contingency or any anticipated change in the market
value, or in the condition of the Company, or that of the industry in which the
business of the Company is engaged or in connection with a contemplated
liquidation, or settlement of any loan obtained by the undersigned for the
acquisition of the Unit(s), and for which such Unit(s) may be pledged as
security or as donations to religious or charitable institutions for the purpose
of securing a deduction on an income tax return, would, in fact, represent a
purchase with an intent inconsistent with the undersigned's representations to
the Company, and the SEC would then regard such sale as a sale for which the
exemption from registration is not available. The undersigned will not pledge,
transfer or assign this Subscription Agreement.

                                       4
<PAGE>

                      j. The undersigned represents that the funds provided for
this investment are either separate property of the undersigned, community
property over which the undersigned has the right of control, or are otherwise
funds as to which the undersigned has the sole right of management. The
undersigned is purchasing the Unit(s) with the undersigned's funds and not with
the funds of any other person, firm, or entity and is acquiring the Unit(s) for
the undersigned's account. No person other than the undersigned has any
beneficial interest in the Unit(s) being purchased hereunder.

                      k. FOR PARTNERSHIPS, CORPORATIONS, TRUSTS, OR OTHER
ENTITIES ONLY: If the undersigned is a partnership, corporation, trust or other
entity, (i) the undersigned has enclosed with this Subscription Agreement
appropriate evidence of the authority of the individual executing this
Subscription Agreement to act on its behalf (e.g., if a trust, a certified copy
of the trust agreement; if a corporation, a certified corporate resolution
authorizing the signature and a certified copy of the articles of incorporation;
or if a partnership, a certified copy of the partnership agreement), (ii) the
undersigned represents and warrants that it was not organized or reorganized for
the specific purpose of acquiring the Unit(s), (iii) the undersigned has the
full power of such entity to make the representations and warranties made herein
on its behalf, and (iv) this investment in the Company has been affirmatively
authorized, if required, by the governing board of such entity and is not
prohibited by the governing documents of the entity.

                      l. The address shown under the undersigned's signature at
the end of this Subscription Agreement is the undersigned's principal residence
if he or she is an individual, or its principal business address if it is a
corporation or other entity.

                      m. The undersigned has such knowledge and experience in
financial and business matters as to be capable of evaluating the merits and
risks of an investment in the Units.

                      n. The undersigned acknowledges that the certificates for
the Common Stock underlying the Units, which the undersigned will receive, will
contain a legend substantially as follows:

         THE SECURITIES WHICH ARE REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN
         REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT").
         THE SECURITIES HAVE BEEN ACQUIRED FOR INVESTMENT PURPOSES ONLY AND NOT
         WITH A VIEW TO DISTRIBUTION OR RESALE, AND MAY NOT BE SOLD,
         TRANSFERRED, MADE SUBJECT TO A SECURITY INTEREST, PLEDGED, HYPOTHECATED
         OR OTHERWISE DISPOSED OF UNLESS AND UNTIL REGISTERED UNDER THE ACT, OR
         AN OPINION OF COUNSEL FOR THE COMPANY IS RECEIVED THAT REGISTRATION IS
         NOT REQUIRED UNDER SUCH ACT. THE SECURITIES WHICH ARE REPRESENTED BY
         THIS CERTIFICATE ARE SUBJECT TO THE PROVISIONS OF A SUBSCRIPTION
         AGREEMENT, DATED ___________, 2000, BETWEEN THE HOLDER AND THE COMPANY,
         A COPY OF WHICH IS AVAILABLE AT THE OFFICES OF THE COMPANY.

The undersigned further acknowledges that a stop transfer order will be placed
upon the certificates for the securities in accordance with the Securities Act.
The undersigned further acknowledges that the Company is under no obligation to
aid the undersigned in obtaining any exemption from registration requirements.

                  2. The undersigned expressly acknowledges and agrees that the
Company is relying upon the undersigned's representations contained in the
Subscription Documents.

                                       5
<PAGE>

                  3. The undersigned irrevocably appoints and authorizes the
Company to take such action as agent and attorney-in-fact on his behalf and to
exercise such power and authority as said agent and attorney-in-fact would have
if personally acting, with respect to all matters arising in connection with
securing the Company's Registration obligations as set forth in this
subscription agreement, with full power and authority to execute, deliver and
enforce for and on behalf of the undersigned all such agreements, consents and
documents. Neither the Company nor any of its directors, officers, agents or
employees shall be liable for any action taken or not taken in connection with
the authority granted pursuant to the preceding sentence, or incur any liability
by acting in reliance upon any notice, consent, certificate, statement or other
writing believed by it or them to be genuine. The undersigned shall indemnify
the Company against any cost, expense (including counsel fees and
disbursements), claim, demand, action, loss or liability (except any thereof
arising out of the gross negligence or willful misconduct of the Company) that
the Company may suffer or incur in connection with any action or inaction
pursuant to the foregoing appointment as agent and attorney-in-fact.

                  4. The undersigned also agrees that he will be subject to any
lock-up imposed by NASDAQ or any other regulatory agency.

                  5. The Company has been duly and validly incorporated and is
validly existing and in good standing as a corporation under the laws of the
State of Nevada. The Company has all requisite power and authority, and all
necessary authorizations, approvals and orders required as of the date hereof to
own its properties and conduct its business as described in the Memorandum and
to enter into this Subscription Agreement and to be bound by the provisions and
conditions hereof.

                  6. Except as otherwise specifically provided for hereunder, no
party shall be deemed to have waived any of his rights hereunder or under any
other agreement, instrument or papers signed by any of them with respect to the
subject matter hereof unless such waiver is in writing and signed by the party
waiving said right. Except as otherwise specifically provided for hereunder, no
delay or omission by any party in exercising any right with respect to the
subject matter hereof shall operate as a waiver of such right or of any such
other right. A waiver on any one occasion with respect to the subject matter
hereof shall not be construed as a bar to, or waiver of, any right or remedy on
any future occasion. All rights and remedies with respect to the subject matter
hereof, whether evidenced hereby or by any other agreement, instrument, or
paper, will be cumulative, and may be exercised separately or concurrently.

                  7. The parties have not made any representations or warranties
with respect to the subject matter hereof not set forth herein, and this
Subscription Agreement, together with any instruments executed simultaneously
herewith, constitutes the entire agreement between them with respect to the
subject matter hereof. All understandings and agreements heretofore had between
the parties with respect to the subject matter hereof are merged in this
Subscription Agreement and any such instruments executed simultaneously
herewith, which alone fully and completely expresses their agreement.

                                       6
<PAGE>

                  8. This Subscription Agreement may not be changed, modified,
extended, terminated or discharged orally, but only by an agreement in writing,
which is signed by all of the parties to this Subscription Agreement.

                  9. The parties agree to execute any and all such other further
instruments and documents, and to take any and all such further actions
reasonably required to effectuate this Subscription Agreement and the intent and
purposes hereof.

                  10. This Subscription Agreement shall be governed by and
construed in accordance with the laws of the State of New York, excluding choice
of law principles thereof, and the undersigned hereby consents to the
jurisdiction of the courts of the State of New York and the United States
District Courts situated therein, without giving effect to the actual domiciles
of the parties.

                  11. Any reference in this Subscription Agreement to the male
gender shall be deemed to refer to the feminine or neuter where applicable.

                  12. This Subscription Agreement may be executed in
counterparts each of which shall be deemed an original and all of which taken
together shall constitute one and the same instrument.

                  13. Upon the execution and delivery of this Subscription
Agreement by the Investor, this Subscription Agreement shall become a binging
obligation of the Investor with respect to the purchase of the Units as herein
provided.

                  14. Any notice or other communication given hereunder shall be
deemed sufficient if in writing and hand delivered or sent by registered or
certified mail, return receipt requested, or overnight mail or delivery,
addressed to the Company at 83 Mercer Street 3rd Floor , New York, New York
10012 Attention: Chairman of the Board, and to the Investor at his address
indicated on the signature page of this Subscription Agreement. Notices shall be
deemed to have been given on the date of mailing, except notices of change of
address, which shall be deemed to have been given when received.

                                       7
<PAGE>

                     ALL SUBSCRIBERS MUST COMPLETE THIS PAGE

                  IN WITNESS WHEREOF, the undersigned has executed this
Subscription Agreement on this day____________ of_____________ , 2000.

                      x ($100,000 Per Unit)         = $
---------------------                                  ------------------------
  Units Subscribed

1. o  Individual                                    8. o  As a Custodian for

2. o  Joint Tenants with Right of Survivorship

3. o   Community Property                               _______________________
                                                        Under the Uniform Gift
4. o  Tenants in Common                                 to Minors Act of the
                                                        State.

5. o  Corporation/Partnership                       9. o  Married with Separate
                                                           Property

6. o  IRA of_________________________________      10. o  Keogh

7. o  Trust
        Date Opened__________________

                                       8
<PAGE>

                 EXECUTION BY SUBSCRIBER WHO IS A NATURAL PERSON

--------------------------------------------------------------------------------
                     Exact Name in Which Title is to be Held

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

--------------------------------------------------------------------------------
                               Name (Please Print)

--------------------------------------------------------------------------------
                          Residence: Number and Street

--------------------------------------------------------------------------------
City                                 State                            Zip Code

--------------------------------------------------------------------------------
                             Social Security Number

Accepted this __ day of __________, 2000, on behalf of:

                                                VIANET TECHNOLOGIES, INC.

                                                By:__________________________

                                       9
<PAGE>

                  EXECUTION BY SUBSCRIBER WHO IS A CORPORATION,
                            PARTNERSHIP, TRUST, ETC.

--------------------------------------------------------------------------------
                     Exact Name in Which Title is to be Held

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

--------------------------------------------------------------------------------
                               Name (Please Print)

--------------------------------------------------------------------------------
                               Title of Signatory

--------------------------------------------------------------------------------
                       Business Address: Number and Street

--------------------------------------------------------------------------------
City                                State                             Zip Code

--------------------------------------------------------------------------------
                          Employer or NASD affiliation

--------------------------------------------------------------------------------
                            Tax Identification Number

Accepted this __ day of ________, 2000, on behalf of:

                                                 VIANET TECHNOLOGIES, INC.

                                                 By:___________________________

                                       10

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