Document:

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                               SECURITY AGREEMENT

1.       Identification.

         This Security Agreement (the "Agreement"), dated for identification
purposes only January 9, 2001, is entered into by and between Vianet
Technologies, Inc., a Delaware corporation ("Debtor"), Bayard Holdings, a
Liberian corporation, Sonata Holdings, a Liberian corporation, and Xelix
Capital, a Liberian corporation (Bayard Holdings, Sonata Holdings and Xelix
Capital are referred to herein individually as a "Shareholder" and collectively
"Shareholders") and Barbara Mittman, as collateral agent [acting in the manner
and to the extent described in the Collateral Agent Agreement defined below]
(the "Collateral Agent"), for the benefit of the parties identified on Schedule
A hereto as being in the First Group or Second Group (collectively, the
"Lenders").

2.       Recitals.

         2.1 The Lenders have made loans to Debtor (the "Loans").

         2.2 The Loans are evidenced by those certain Secured Convertible Notes
described on Schedule A hereto ("Notes") and executed by Debtor as the
"Borrower" thereof, for the benefit of each individual Lender as the "Holder"
thereof.

         2.3 In order to induce Lenders to make the Loans, and as security for
Debtor's performance of its obligations under the Notes and as security for the
repayment of the Loans and any and all other sums due from Debtor to Lender
whether arising under the Notes issued pursuant to a Subscription Agreement
entered into between Debtor and each Lender relating to the Notes (the
"Subscription Agreement"), or pursuant to other written instruments and
agreements entered into by the Debtor and a Lender, whether before or after the
date hereof, and further specifically including all of the Debtor's obligations
arising under the Notes and the Subscription Agreement relating thereto
(collectively, the "Obligations"), Debtor and Shareholders, for good and
valuable consideration, receipt of which is acknowledged, has agreed to grant to
the Collateral Agent, for the benefit of the Lenders, a security interest in
certain property specified in this Agreement, on the terms and conditions
hereinafter set forth.

         2.4 The Lenders have appointed Barbara Mittman as Collateral Agent
pursuant to that certain Collateral Agent Agreement dated as of January 9, 2001,
among the Lenders and Collateral Agent.

                  Defined Terms. The following defined terms which are defined
in the Uniform Commercial Code in effect in the State of New York on the date
hereof are used herein as so defined: Accounts, Chattel Paper, Documents,
Equipment, General Intangibles, Instruments, Inventory and Proceeds.

3.       Grant of General Security Interest in Collateral.

         3.1 As security for the Obligations, Debtor hereby grants the
Collateral Agent, for the benefit of the Lenders, a security interest in the
Collateral.

         3.2 "Collateral" shall mean all of the following property of Debtor:

                  (a) All now owned and hereafter acquired right, title and
interest of Debtor in, to and in respect of all: accounts, interests in goods
represented by accounts, returned, reclaimed or repossessed goods with respect

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thereto and rights as an unpaid vendor; contract rights; chattel paper;
investment property; general intangibles (including but not limited to, tax and
duty claims and refunds, registered and unregistered patents, trademarks,
service marks, copyrights trade names, applications for the foregoing, trade
secrets, goodwill, processes, drawings, blueprints, customer lists, licenses,
whether as licensor or licensee, choses in action and other claims, and existing
and future leasehold interests in equipment, real estate and fixtures)
(collectively, the "General Intangibles"); documents; instruments; letters of
credit, bankers' acceptances or guaranties; cash moneys, deposits; securities,
bank accounts, deposit accounts, credits and other property now or hereafter
held in any capacity by Lender, its affiliates or any entity which, at any time,
participates in Lender's financing of Debtor at any other depository or other
institution; agreements or property securing or relating to any of the items
referred to above;

                  (b) All now owned and hereafter acquired right, title and
interest of Debtor in, to and in respect of goods, including, but not limited
to:

                             (i) All inventory, wherever located, whether now
owned or hereafter acquired, of whatever kind, nature or description, including
all raw materials, work-in-process, finished goods, and materials to be used or
consumed in Debtor's business; and all names or marks affixed to or to be
affixed thereto for purposes of selling same by the seller, manufacturer, lessor
or licensor thereof and all inventory which may be returned to Debtor by its
customers or repossessed by Debtor and all of Debtor's right, title and interest
in and to the foregoing (including all of Debtor's rights as a seller of goods);

                             (ii) All equipment and fixtures, wherever located,
whether now owned or hereafter acquired, including, without limitation, all
machinery, equipment, motor vehicles, furniture and fixtures, and any and all
additions, substitutions, replacements (including spare parts), and accessions
thereof and thereto (including, but not limited to Debtor's rights to acquire
any of the foregoing, whether by exercise of a purchase option or otherwise);

                             (iii) All consumer goods, farm products, crops,
timber, minerals or the like (including oil and gas), wherever located, whether
now owned or hereafter acquired, of whatever kind, nature or description;

                  (c) All now owned and hereafter acquired right, title and
interests of Debtor in, to and in respect of any real or other personal property
in or upon which Debtor has or may hereafter have a security interest, lien or
right of setoff;

                  (d) All present and future books and records relating to any
of the above including, without limitation, all computer programs, printed
output and computer readable data in the possession or control of the Debtor,
any computer service bureau or other third party; and

                  (e) All products and proceeds of the foregoing in whatever
form and wherever located, including, without limitation, all insurance proceeds
and all claims against third parties for loss or destruction of or damage to any
of the foregoing.

                  (f) As further security for the Obligations and additional
Collateral, Shareholders hereby grant the Collateral Agent, for the benefit of
the Lenders, a security interest in and deposits with the Collateral Agent, the
common stock of the Debtor as set forth on Schedule B hereto, together with
notarized stock powers and corporate resolutions acceptable to the Debtor's
transfer agent ("Security Shares"). Such additional Collateral shall include,
but not be limited to, all the Debtor's right, title and interest in and to the

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Security Shares, together with the proceeds of any sale, exchange, liquidation
or other disposition, whether voluntary or involuntary, and including but not
limited to any securities, instruments, and all benefits and entitlements
evidenced by or arising out of the Security Shares and all other securities,
instruments and other property (whether real or personal, tangible or
intangible) issued or accepted in substitution for, or in addition to, the
foregoing, and all dividends, interest, cash, instruments, distributions,
income, securities and any othe r property (whether real or personal, tangible
or intangible) at any time received, receivable or otherwise distributed in
respect of, or in exchange for, the foregoing, whether now owned or hereafter
acquired, and any and all improvements, additions, replacements, substitutions
and any and all proceeds arising out of or derived from the foregoing. The
Collateral Agent is hereby specifically authorized to transfer any Security
Shares into the name of the Collateral Agent and to take any and all action
deemed advisable to the Collateral Agent to remove any transfer restrictions
affecting the Security Shares.

         3.3 The Collateral Agent is hereby specifically authorized to transfer
any Collateral into the name of the Collateral Agent and to take any and all
action deemed advisable to the Collateral Agent to remove any transfer
restrictions affecting the Collateral.

4.       Perfection of Security Interest.

         Debtor and Shareholders shall execute and deliver to the Collateral
Agent UCC-1 Financing Statements ("Financing Statements") assigning to the
Collateral Agent security interests in Debtor's and Shareholders' right, title
and interest in and to the Collateral. Debtor and Shareholders hereby authorize
the Collateral Agent to file such Financing Statements at the Debtor's expense,
in such filing locations as the Collateral Agent deems appropriate.

5.       Distribution on Liquidation.

         5.1 If any sum is paid as a liquidating distribution on or with respect
to the Collateral, Debtor and Shareholders shall accept same in trust for the
Lenders and shall deliver same to the Collateral Agent to be applied to the
Obligations then due, in accordance with the terms of the Notes.

         5.2 Prior to any Event of Default (as defined herein), Debtor and
Shareholders shall be entitled to exercise all voting power pertaining to any of
the Collateral, provided such exercise is not contrary to the interests of the
Lenders and does not impair the Collateral.

6.       Further Action By Debtor and : Covenants and Warrants.

         6.1 Collateral Agent at all times shall have a perfected security
interest in the Collateral which shall be prior to any other unperfected
interest therein. Debtor and Shareholders have and will continue to have full
title to the Collateral free from any liens, leases, encumbrances, judgments or
other claims, Collateral Agent's security interest in the Collateral constitutes
and will continue to constitute a first, prior and indefeasible security
interest in favor of Collateral Agent. Debtor will do all acts and things, and
will execute and file all instruments (including, but not limited to, security
agreements, financing statements, continuation statements, etc.) reasonably
requested by Collateral Agent to establish, maintain and continue the perfected
security interest of Collateral Agent in the Collateral, and will promptly on
demand, pay all costs and expenses of filing and recording, including the costs
of any searches deemed necessary by Collateral Agent from time to time to
establish and determine the validity and the continuing priority of the security
interest of Collateral Agent, and also pay all other claims and charges that in

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the opinion of Collateral Agent might prejudice, imperil or otherwise affect the
Collateral or its security interest therein.

         6.2 Debtor and Shareholders will not sell, transfer, assign or pledge
those items of Collateral (or allow any such items to be sold, transferred,
assigned or pledged), without the prior written consent of Collateral Agent.
Although proceeds of Collateral are covered by this Security Agreement, this
shall not be construed to mean that Collateral Agent consents to any sale of the
Collateral.

         6.3 Debtor and Shareholders will, at all reasonable times, allow
Collateral Agent or its representatives free and complete access to all of
Debtor 's records which in any way relate to the Collateral, for such inspection
and examination as Collateral Agent deems necessary.

         6.4 Debtor and Shareholders, at their sole cost and expense, will
protect and defend this Security Agreement, all of the rights of Collateral
Agent hereunder, and the Collateral against the claims and demands of all other
parties.

         6.5 Debtor and Shareholders will promptly notify Collateral Agent of
any levy, distraint or other seizure by legal process or otherwise of any part
of the Collateral, and of any threatened or filed claims or proceedings that
might in any way affect or impair any of the rights of Collateral Agent under
this Security Agreement.

         6.6 Debtor and Shareholders, at their own expense, will obtain and
maintain in force insurance policies covering losses or damage to those items of
Collateral which constitute physical personal property. The insurance policies
to be obtained by Debtor and Shareholders shall be in form and amounts
reasonably acceptable to Collateral Agent. Debtor and Shareholders shall make
the Collateral Agent a loss payee thereon. Collateral Agent is hereby
irrevocably appointed Debtor's and Shareholders' attorney-in-fact to endorse any
check or draft that may be payable to Debtor or Shareholders, so that Collateral
Agent may collect the proceeds payable for any loss under such insurance. The
proceeds of such insurance, less any costs and expenses incurred or paid by
Collateral Agent in the collection thereof, shall be applied either toward the
cost of the repair or replacement of the items damaged or destroyed, or on
account of any sums secured hereby, whether or not then due or payable.

         6.7 Collateral Agent may, at its option, and without any obligation to
do so, pay, perform and discharge any and all amounts, costs, expenses and
liabilities herein agreed to be paid or performed by Debtor or Shareholders, and
all amounts expended by Collateral Agent in so doing shall become part of the
Obligations secured hereby, and shall be immediately due and payable by Debtor
and Shareholders to Collateral Agent upon demand and shall bear interest at 18%
per annum from the dates of such expenditures until paid.

         6.8 Upon the request of Collateral Agent, Debtor and Shareholders will
furnish within five (5) days thereafter to Collateral Agent, or to any proposed
assignee of this Security Agreement, a written statement in form satisfactory to
Collateral Agent, duly acknowledged, certifying the amount of the principal and
interest then owing under the Obligations, whether any claims, offsets or
defenses exist against the Obligations or against this Security Agreement, or
any of the terms and provisions of any other agreement of Debtor securing the
Obligations. In connection with any assignment by Collateral Agent of this
Security Agreement, Debtor and Shareholders hereby agree to cause the insurance
policies required hereby to be carried by Debtor and Shareholders, if any, to be
endorsed in form satisfactory to Collateral Agent or to such assignee, with loss
payable clauses in favor of such assignee, and to cause such endorsements to be

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delivered to Collateral Agent within ten (10) calendar days after request
therefor by Collateral Agent.

         6.9 The Debtor and Shareholders will, at their own expense, make,
execute, endorse, acknowledge, file and/or deliver to the Collateral Agent from
time to time such vouchers, invoices, schedules, confirmatory assignments,
conveyances, financing statements, transfer endorsements, powers of attorney,
certificates, reports and other assurances or instruments and take further steps
relating to the Collateral and other property or rights covered by the security
interest hereby granted, as the Collateral Agent may reasonable require.

         6.10 Debtor and Shareholders represent and warrant that they are the
true and lawful exclusive owners of the Collateral, free and clear of any liens
and encumbrances.

         6.11 Debtor and Shareholders hereby agree not to divest themselves of
any right under the Collateral absent prior written approval of the Collateral
Agent.

         6.12 Debtor and Shareholders will cooperate and provide such
certificate, resolutions, representations, legal opinions and all other matters
necessary to facilitate a sale of any part of the Collateral pursuant to Rule
144 under the Securities Act of 1933.

7.       Power of Attorney.

         Debtor and Shareholders hereby irrevocably constitute and appoint the
Collateral Agent as the true and lawful attorney of Debtor and Shareholders,
with full power of substitution, in the place and stead of Debtor and
Shareholders and in the name of Debtor and Shareholders or otherwise, at any
time or times, in the discretion of the Collateral Agent, to take any action and
to execute any instrument or document which the Collateral Agent may deem
necessary or advisable to accomplish the purposes of this Agreement which Debtor
or Shareholders fail to take or fails to execute within five (5) business days
of the Collateral Agent's reasonable request therefor. This power of attorney is
coupled with an interest, is irrevocable and shall not be affected by any
subsequent disability or incapacity of Debtor or Shareholders.

8.       Performance By The Collateral Agent.

         If Debtor or Shareholders fail to perform any material covenant,
agreement, duty or obligation of Debtor or Shareholders under this Agreement,
the Collateral Agent may, at any time or times in its discretion, take action to
effect performance of such obligation. All reasonable expenses of the Collateral
Agent incurred in connection with the foregoing authorization shall be payable
by Debtor and Shareholders as provided in Paragraph 12.1 hereof. No
discretionary right, remedy or power granted to the Collateral Agent under any
part of this Agreement shall be deemed to impose any obligation whatsoever on
the Collateral Agent with respect thereto, such rights, remedies and powers
being solely for the protection of the Collateral Agent.

9.       Event of Default.

         An event of default ("Event of Default") shall be deemed to have
occurred hereunder upon the occurrence of any event of default as defined in the
Notes or Subscription Agreement. Upon and after any Event of Default, after the
applicable cure period, if any, any or all of the Obligations shall become
immediately due and payable at the option of the Collateral Agent, for the
benefit of the Lenders, and the Collateral Agent may dispose of Collateral as

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provided below. A default by Debtor or Shareholders of any of their obligations
pursuant to this Agreement shall be deemed an Event of Default hereunder and an
event of default as defined in the Obligations.

10.      Disposition of Collateral.

         Upon and after any Event of Default which is then continuing,

         10.1 The Collateral Agent may exercise its rights with respect to each
and every component of the Collateral, without regard to the existence of any
other security or source of payment for the Obligations. In addition to other
rights and remedies provided for herein or otherwise available to it, the
Collateral Agent shall have all of the rights and remedies of a lender on
default under the Uniform Commercial Code ("Code") then in effect in the State
of New York.

         10.2 If any notice to Debtor or Shareholders of the sale or other
disposition of Collateral is required by then applicable law, five (5) days'
prior notice (or, if longer, the shortest period of time permitted by then
applicable law) to Debtor and Shareholders of the time and place of any public
sale of Collateral or of the time after which any private sale or any other
intended disposition is to be made, shall constitute reasonable notification.

         10.3 The Collateral Agent is authorized, at any such sale, if the
Collateral Agent deems it advisable to do so, in order to comply with any
applicable securities laws, to restrict the prospective bidders or purchasers to
persons who will represent and agree, among other things, that they are
purchasing the Collateral for their own account for investment, and not with a
view to the distribution or resale thereof, or otherwise to restrict such sale
in such other manner as the Collateral Agent deems advisable to ensure such
compliance. Sales made subject to such restrictions shall be deemed to have been
made in a commercially reasonable manner.

         10.4 All cash proceeds received by the Collateral Agent for the benefit
of the Lenders in respect of any sale, collection or other enforcement or
disposition of Collateral, shall be applied (after deduction of any amounts
payable to the Collateral Agent pursuant to Paragraph 12.1 hereof) against the
Obligations in the following order: First, pro rata among the First Group and
Second, pro rata among the Second Group. Proceeds will be not be disbursed to
the Second Group until all Obligations to the First Group have been satisfied.
Upon payment in full of all Obligations, Debtor and Shareholders shall
respectively be entitled to the return of all Collateral, including cash, which
has not been used or applied toward the payment of Obligations or used or
applied to any and all costs or expenses of the Collateral Agent incurred in
connection with the liquidation of the Collateral (unless another person is
legally entitled thereto). Any assignment of Collateral by the Collateral Agent
to Debtor or Shareholders shall be without representation or warranty of any
nature whatsoever and wholly without recourse. The Lenders may purchase the
Collateral and pay for such purchase by offsetting any sums owed to Lender by
Debtor arising under the Obligations or any other source.

         10.5 No exercise by the Collateral Agent of any right hereby given it,
no dealing by the Collateral Agent with Debtor, Shareholders or any other
person, and no change, impairment or suspension of any right or remedy of the
Collateral Agent shall in any way affect any of the obligations of Debtor or
Shareholders hereunder or any Collateral furnished by Debtor or Shareholders or
give Debtor or Shareholders any recourse against the Collateral Agent.

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11.      Waiver of Automatic Stay. The Debtor and Shareholders acknowledge and
agree that should a proceeding under any bankruptcy or insolvency law be
commenced by or against the Debtor or Shareholders, or if any of the Collateral
(as defined in the Security Agreement) should become the subject of any
bankruptcy or insolvency proceeding, then the Collateral Agent should be
entitled to, among other relief to which the Collateral Agent may be entitled
under the Note, Security Agreement, Subscription Agreement and any other
agreement to which the Debtor, Shareholders, Lenders or Collateral Agent are
parties, (collectively "Loan Documents") and/or applicable law, an order from
the court granting immediate relief from the automatic stay pursuant to 11
U.S.C. Section 362 to permit the Collateral Agent to exercise all of its rights
and remedies pursuant to the Loan Documents and/or applicable law. THE DEBTOR
AND SHAREHOLDERS EXPRESSLY WAIVE THE BENEFIT OF THE AUTOMATIC STAY IMPOSED BY 11
U.S.C. SECTION 362. FURTHERMORE, THE DEBTOR AND SHAREHOLDERS EXPRESSLY
ACKNOWLEDGE AND AGREE THAT NEITHER 11 U.S.C. SECTION 362 NOR ANY OTHER SECTION
OF THE BANKRUPTCY CODE OR OTHER STATUTE OR RULE (INCLUDING, WITHOUT LIMITATION,
11 U.S.C. SECTION 105) SHALL STAY, INTERDICT, CONDITION, REDUCE OR INHIBIT IN
ANY WAY THE ABILITY OF THE COLLATERAL AGENT TO ENFORCE ANY OF ITS RIGHTS AND
REMEDIES UNDER THE LOAN DOCUMENTS AND/OR APPLICABLE LAW. The Debtor and
Shareholders hereby consent to any motion for relief from stay which may be
filed by the Collateral Agent in any bankruptcy or insolvency proceeding
initiated by or against the Debtor and Shareholders, further, agree not to file
any opposition to any motion for relief from stay filed by the Collateral Agent.
The Debtor and Shareholders represent, acknowledge and agree that this provision
is a specific and material aspect of this Agreement, and that the Collateral
Agent would not agree to the terms of this Agreement if this waiver were not a
part of this Agreement. The Debtor and Shareholders further represent,
acknowledge and agree that this waiver is knowingly, intelligently and
voluntarily made, that neither the Collateral Agent nor any person acting on
behalf of the Collateral Agent has made any representations to induce this
waiver, that the Debtor and Shareholders have been represented (or has had the
opportunity to be represented) in the signing of this Agreement and in the
making of this waiver by independent legal counsel selected by the Debtor and
Shareholders and that the Debtor and Shareholders have had the opportunity to
discuss this waiver with counsel. The Debtor and Shareholders further agree that
any bankruptcy or insolvency proceeding initiated by the Debtor or Shareholders
and will only be brought in courts within the geographic boundaries of New York
State.

12.      Miscellaneous.

         12.1 Expenses. Debtor and Shareholders shall severally pay to the
Collateral Agent, on demand, the amount of any and all reasonable expenses,
including, without limitation, attorneys' fees, legal expenses and brokers'
fees, which the Collateral Agent may incur in connection with (a) sale,
collection or other enforcement or disposition of Collateral; (b) exercise or
enforcement of any the rights, remedies or powers of the Collateral Agent
hereunder or with respect to any or all of the Obligations; or (c) failure by
Debtor or Shareholders to perform and observe any agreements of Debtor or
Shareholders contained herein which are performed by the Collateral Agent.

         12.2 Waivers, Amendment and Remedies. No courses of dealing by the
Collateral Agent and no failure by the Collateral Agent to exercise, or delay by
the Collateral Agent in exercising, any right, remedy or power hereunder shall
operate as a waiver thereof, and no single or partial exercise thereof shall
preclude any other or further exercise thereof or the exercise of any other
right, remedy or power of the Collateral Agent. No amendment, modification or
waiver of any provision of this Agreement and no consent to any departure by
Debtor or Shareholders therefrom, shall, in any event, be effective unless

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contained in a writing signed by the Collateral Agent, and then such waiver or
consent shall be effective only in the specific instance and for the specific
purpose for which given. The rights, remedies and powers of the Collateral
Agent, not only hereunder, but also under any instruments and agreements
evidencing or securing the Obligations and under applicable law are cumulative,
and may be exercised by the Collateral Agent from time to time in such order as
the Collateral Agent may elect.

         12.3 Notices. Any notice or other communications under the provisions
of this Agreement shall be given in writing and delivered in person, by
reputable overnight courier or delivery service, by facsimile machine (receipt
conformed) with a copy sent by first class mail on the date of transmissions, or
by registered or certified mail, return receipt requested, directed to its
addresses set forth below (or to any new address of which either party hereto
shall have informed the other by the giving of notice in the manner provided
herein):

             To Debtor:
                                         Vianet Technologies, Inc.
                                         6509 Windcrest Drive, Suite 160
                                         Plano, Texas 75024
                                         Fax: (972) 608-0780

             With a copy to:             Sichenzia, Ross & Friedman, LLP
                                         135 West 50th Street, 20th Floor
                                         New York, NY 10020
                                         Attn: Richard Friedman, Esq.
                                         Fax: (212) 664-7329

             To Shareholders:            c/o Sichenzia, Ross & Friedman, LLP
                                         135 West 50th Street, 20th Floor
                                         New York, NY 10020
                                         Attn: Richard Friedman, Esq.
                                         Fax: (212) 664-7329

             To Lenders:                 To the addresses and telecopier numbers
                                         Set forth on Schedule A hereto

             To the Collateral Agent:    Barbara R. Mittman
                                         Grushko & Mittman, P.C.
                                         551 Fifth Avenue, Suite 1601
                                         New York, New York 10176
                                         Fax: (212) 697-3575

Any party may change its address by written notice in accordance with this
paragraph.

         12.4 Term: Binding Effect. This Agreement shall (a) remain in full
force and effect until payment and satisfaction in full of all of the
Obligations; (b) be binding upon Debtor and Shareholders, and their successors
and assigns; and (c) inure to the benefit of the Collateral Agent, for the
benefit of the Lenders and their heirs, legal representatives, successors in
title and assigns.

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         12.5 Captions. The captions of Paragraphs, Articles and Sections in
this Agreement have been included for convenience of reference only, and shall
not define or limit the provisions hereof and have no legal or other
significance whatsoever.

         12.6 Governing Law; Venue; Severability. This Agreement shall be
governed by and construed in accordance with the laws of the State of New York
without regard to principles of conflicts or choice of law, except to the extent
that the perfection of the security interest granted hereby in respect of any
item of Collateral may be governed by the law of another jurisdiction. Any legal
action or proceeding against the Debtor and Shareholders with respect to this
Agreement may be brought in the courts of the State of New York or of the United
States for the Southern District of New York, and, by execution and delivery of
this Agreement, each of the Debtor and Shareholders hereby irrevocably accepts
for itself and in respect of its property, generally and unconditionally, the
jurisdiction of the aforesaid courts. The Debtor and Shareholders hereby
irrevocably waive any objection which they may now or hereafter have to the
laying of venue of any of the aforesaid actions or proceedings arising out of or
in connection with this Agreement brought in the aforesaid courts and hereby
further irrevocably waives and agrees not to plead or claim in any such court
that any such action or proceeding brought in any such court has been brought in
an inconvenient forum. If any provision of this Agreement, or the application
thereof to any person or circumstance, is held invalid, such invalidity shall
not affect any other provisions which can be given effect without the invalid
provision or application, and to this end the provisions hereof shall be
severable and the remaining, valid provisions shall remain of full force and
effect.

         12.7 Counterparts/Execution. This Agreement may be executed in any
number of counterparts and by the different signatories hereto on separate
counterparts, each of which, when so executed, shall be deemed an original, but
all such counterparts shall constitute but one and the same instrument. This
Agreement may be executed by facsimile signature and delivered by facsimile
transmission.

                      [THIS SPACE INTENTIONALLY LEFT BLANK]

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         IN WITNESS WHEREOF, the undersigned have executed and delivered this
Security Agreement, as of the date first written above.

                                                  "DEBTOR"
                                                  VIANET TECHNNOLOGIES, INC.
                                                  a Delaware corporation

                                                  By:
                                                      --------------------------

                                                  Its:
                                                      --------------------------

                                                  "SHAREHOLDERS"

                                                  ------------------------------
                                                  BAYARD HOLDINGS

                                                  ------------------------------
                                                  SONATA HOLDINGS

                                                  ------------------------------
                                                  XELIX CAPITAL

                                                  "THE COLLATERAL AGENT"
                                                  BARBARA MITTMAN

                                                  ------------------------------

APPROVED:

-----------------------------------          -----------------------------------
CELESTE TRUST REG.                           ESQUIRE TRADE & FINANCE, INC.

-----------------------------------          -----------------------------------
SENECA CAPITAL L.P.                          SENECA CAPITAL INTERNATIONAL LTD.

-----------------------------------          -----------------------------------
NATHAN A. LOW                                PEQUOT NAVIGATION OFFSHORE
                                             FUND, INC.

-----------------------------------          -----------------------------------
PEQUOT SCOUT FUND, L.P.                      CARRINGTON SHIPPING, S.A.

       This Security Agreement may be executed by facsimile signature and
                 delivered by confirmed facsimile transmission.

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                         SECURITY AGREEMENT - SCHEDULE A

FIRST GROUP

--------------------------------------------------------------------------------
         LENDERS                                     PRINCIPAL AMOUNT OF SECURED
                                                         CONVERTIBLE NOTES
--------------------------------------------------------------------------------
CELESTE TRUST REG.                                           $250,000.00
C/o Trevisa-Treuhand-Anstalt
Landstrasse 8
Furstentums 9496
Balzers, Liechtenstein
Fax: 011-431-534-532895
--------------------------------------------------------------------------------
ESQUIRE TRADE & FINANCE, INC.                                $250,000.00
Trident Chambers
P.O. Box 146
Road Town, Tortola, B.V.I.
Fax: 011-41-41-760-1031
--------------------------------------------------------------------------------
SENECA CAPITAL L.P.                                          $258,000.00
527 Madison Avenue, 11th Floor
New York, NY 10022
Fax: 212-758-6060
--------------------------------------------------------------------------------
SENECA CAPITAL INTERNATIONAL LTD.                            $492,000.00
527 Madison Avenue, 11th Floor
New York, NY 10022
Fax: 212-758-6060
--------------------------------------------------------------------------------
NATHAN A. LOW                                                $100,000.00
135 East 57th Street
New York, NY 10022
Fax: 212-421-5944
--------------------------------------------------------------------------------
PEQUOT NAVIGATION OFFSHORE FUND, INC.                        $75,000.00
500 Nyala Farm Road
Westport, CT 06880
Fax: 203-429-2430
--------------------------------------------------------------------------------
PEQUOT SCOUT FUND, L.P.                                      $425,000.00
500 Nyala Farm Road
Westport, CT 06880
Fax: 203-429-2430
--------------------------------------------------------------------------------
CARRINGTON SHIPPING, S.A.                                    $250,000.00
Reid House, 31 Church Street
Hamilton HM12, Bermuda
Fax: 441-292-9241
--------------------------------------------------------------------------------
TOTAL                                                        $2,100,000.00
--------------------------------------------------------------------------------

                                       40
<PAGE>

                                  SECOND GROUP

--------------------------------------------------------------------------------
              LENDERS                                PRINCIPAL AMOUNT OF SECURED
                                                          CONVERTIBLE NOTES
--------------------------------------------------------------------------------
SENECA CAPITAL L.P.                                         $1,512,000.00
527 Madison Avenue, 11th Floor
New York, NY 10022
Fax: 212-758-6060
--------------------------------------------------------------------------------
SENECA CAPITAL INTERNATIONAL LTD.                           $2,688,000
527 Madison Avenue, 11th Floor
New York, NY 10022

Fax: 212-758-6060
--------------------------------------------------------------------------------
CELESTE TRUST REG.                                          $250,000.00
C/o Trevisa-Treuhand-Anstalt
Landstrasse 8
Furstentums 9496
Balzers, Liechtenstein
Fax: 011-431-534-532895
--------------------------------------------------------------------------------
ESQUIRE TRADE & FINANCE, INC.                               $250,000.00
Trident Chambers
P.O. Box 146
Road Town, Tortola, B.V.I.
Fax: 011-41-41-760-1031
--------------------------------------------------------------------------------
TOTAL                                                       $4,700,000.00
--------------------------------------------------------------------------------

                                       41
<PAGE>

                         SECURITY AGREEMENT - SCHEDULE B

                                 SECURITY SHARES

--------------------------------------------------------------------------------
      DEPOSITOR            DEPOSITED SHARES COMPRISING A
                           PORTION OF THE COLLATERAL
--------------------------------------------------------------------------------
BAYARD HOLDINGS            1,600,000 common shares ($.001 par value per share)
                           of Vianet Technologies, Inc.
--------------------------------------------------------------------------------
SONATA HOLDINGS            600,000 common shares ($.001 par value per
                           share) of Vianet Technologies, Inc.
--------------------------------------------------------------------------------
XELIX CAPITAL              1,400,000 common shares ($.001 par value per share)
                           of Vianet Technologies, Inc.
--------------------------------------------------------------------------------

                                       42<PAGE>

                           COLLATERAL AGENT AGREEMENT

         COLLATERAL AGENT AGREEMENT (this "Agreement") dated as of January 9,
2001 among Barbara R. Mittman (the "Collateral Agent"), the parties identified
on Schedule A hereto as being in the First Group or Second Group (each,
individually, a "Lender" and collectively, the "Lenders"), who hold or have
subscribed for Secured Convertible Notes in the principal amounts set forth on
Schedule A hereto (collectively, the Notes") issued or to be issued by Vianet
Technologies, Inc., a Delaware corporation ("Vianet").

         WHEREAS, the Lenders are making loans to Vianet to be secured by
certain collateral; and

         WHEREAS, it is desirable to provide for the orderly administration of
such collateral by requiring each Lender to appoint the Collateral Agent, and
the Collateral Agent has agreed to accept such appointment and to receive, hold
and deliver such collateral, all upon the terms and subject to the conditions
hereinafter set forth; and

         WHEREAS, it is desirable to allocate the enforcement of certain rights
of the Lenders under the Notes for the orderly administration thereof.

         NOW, THEREFORE, in consideration of the premises set forth herein and
for other good and valuable consideration, the parties hereto agree as follows:

         1.       Collateral.

                  (a) Contemporaneously with the execution and delivery of this
Agreement by the Collateral Agent and the Lenders, (i) the Collateral Agent has
or will have entered into a Security Agreement between the Collateral Agent and
Vianet, Bayard Holdings, a Liberian corporation, Sonata Holdings, a Liberian
corporation and Xelix Capital, a Liberian corporation, who are shareholders of
Vianet (collectively "Shareholders") (the "Security Agreement"), regarding the
grant of a security interest in certain assets owned by Vianet and Shareholders
(such assets are referred to herein as the "Collateral") to the Collateral
Agent, for the benefit of the Lenders and (ii) Vianet is issuing the Notes to
the Lenders.

                  (b) For purposes solely of perfection of the security
interests granted to the Collateral Agent, as agent on behalf of the Lenders,
and on its own behalf under the Security Agreement, the Collateral Agent hereby
acknowledges that any Collateral held by the Collateral Agent is held for the
benefit of the Lenders in accordance with this Agreement and the Security
Agreement. No reference to the Security Agreement or any other instrument or
document shall be deemed to incorporate any term or provision thereof into this
Agreement unless expressly so provided.

                  (c) The Collateral Agent is to distribute any proceeds
received from the Collateral which are distributable to the Lenders in the
following order: first to the holders of Notes in the First Group, in proportion
to their respective interests in the Obligations (as defined in the Security
Agreement), and then to holders of Notes in the Second Group, in proportion to
their respective interests in the Obligations. No sums shall be paid to the
Second Group until all Obligations due to the First Group have been satisfied.

                                       44
<PAGE>

         2.       Appointment of the Collateral Agent.

                  The Lenders hereby appoint the Collateral Agent (and the
Collateral Agent hereby accepts such appointment) to take any action including,
without limitation, the registration of any Collateral in the name of the
Collateral Agent or its nominees prior to or during the continuance of an Event
of Default (as defined in the Security Agreement), the exercise of voting rights
upon the occurrence and during the continuance of an Event of Default, the
application of any cash collateral received by the Collateral Agent to the
payment of the Obligations (as defined in the Security Agreement), the exercise
of any remedies given to the Collateral Agent pursuant to the Security Agreement
and the exercise of any authority pursuant to the appointment of the Collateral
Agent as an attorney-in-fact pursuant to the Security Agreement that the
Collateral Agent deems necessary or proper for the administration of the
Collateral pursuant to the Security Agreement. Upon disposition of the
Collateral in accordance with the Security Agreement, the Collateral Agent shall
promptly distribute any cash or Collateral in accordance with Section 10.4 of
the Security Agreement. Distribution to Lenders in each of the First Group and
Second Group shall be in proportion to the aggregate amounts owed to them under
the Notes.

         3.       Action by the Majority in Interest.

                  (a)    Certain Actions. Each of the Lenders covenants and
agrees that only a Majority in Interest shall have the right, but not the
obligation, to undertake the following actions (it being expressly understood
that less than a Majority in Interest hereby expressly waive the following
rights that they may otherwise have under the Notes, but only insofar as such
waiver affects their right to receive proceeds from the Collateral):

                         (i) Acceleration. If an Event of Default occurs, after
the applicable cure period, if any, a Majority in Interest may, on behalf of all
the Lenders, instruct the Collateral Agent to provide to Vianet or any one or
more of the Shareholders notice to cure such default and/or declare the unpaid
principal amount of the Notes to be due and payable, together with any and all
accrued interest thereon and all costs payable pursuant to such Notes;

                         (ii) Enforcement. Upon the occurrence of any Event of
Default after the applicable cure period, if any, a Majority in Interest may
instruct the Collateral Agent to proceed to protect, exercise and enforce, on
behalf of all the Lenders, their rights and remedies under the Notes against
Vianet and the Shareholders, and such other rights and remedies as are provided
by law or equity; and

                         (iii) Waiver of Past Defaults. A Majority in Interest
may instruct the Collateral Agent to waive any Event of Default by written
notice to Vianet and the Shareholders, and the other Lenders.

                         (iv) Amendment. A Majority in Interest may instruct the
Collateral Agent to waive, amend, supplement or modify any term, condition or
other provision in the Notes or Security Agreement in accordance with the terms
of the Notes or Security Agreement so long as such waiver, amendment, supplement
or modification is made with respect to all of the Notes and with the same force
and effect with respect to each of the Notes.

                                       45
<PAGE>

                         (v) A Majority in Interest may consent to the release
from Security Interest the portion of the Collateral represented by Vianet's
ownership of Vianet Access, Inc., a Texas corporation.

                  (b)    Permitted Subordination. A Majority in Interest may
instruct the Collateral Agent to agree to subordinate any Collateral to any
claim and may enter into any agreement with Vianet and Shareholders to evidence
such subordination; provided, however, that subsequent to any such
subordination, each Note shall remain pari passu with the other Notes held among
the First Group and Second Group, respectively.

                  (c)    Further Actions. A Majority in Interest may instruct
the Collateral Agent to take any action that it may take under this Agreement by
instructing the Collateral Agent in writing to take such action on behalf of all
the Lenders.

                  (d)    Majority in Interest. For so long as any obligations
remain outstanding on the Secured Notes, Majority in Interest shall mean Lenders
who are members of the First Group who hold not less than seventy-five percent
(75%) of the Obligations outstanding on the Notes held by members of the First
Group. Thereafter, Majority in Interest shall mean Lenders who are members of
the Second Group who hold not less than seventy-five percent (75%) of the
Obligations outstanding on the Notes held by members of the Second Group.

         4.       Power of Attorney.

                  (a)    To effectuate the terms and provisions hereof, the
Lenders hereby appoint the Collateral Agent as their attorney-in-fact (and the
Collateral Agent hereby accepts such appointment) for the purpose of carrying
out the provisions of this Agreement including, without limitation, taking any
action on behalf of, or at the instruction of, the Majority in Interest at the
written direction of the Majority in Interest and executing any consent
authorized pursuant to this Agreement and taking any action and executing any
instrument that the Collateral Agent may deem necessary or advisable (and
lawful) to accomplish the purposes hereof.

                  (b)    All acts done under the foregoing authorization are
hereby ratified and approved and neither the Collateral Agent nor any designee
nor agent thereof shall be liable for any acts of commission or omission, for
any error of judgment, for any mistake of fact or law except for acts of gross
negligence or willful misconduct.

                  (c)    This power of attorney, being coupled with an interest,
is irrevocable while this Agreement remains in effect.

         5.       Expenses of the Collateral Agent. The Lenders shall pay any
and all costs and expenses incurred by the Collateral Agent, all waivers,
releases, discharges, satisfactions, modifications and amendments of this
Agreement, the administration and holding of the Collateral, insurance expenses,
and the enforcement, protection and adjudication of the parties' rights
hereunder by the Collateral Agent, including, without limitation, the reasonable
disbursements, expenses and fees of the attorneys the Collateral Agent may
retain, if any, each of the foregoing in proportion to their holdings of the
Notes.

                                       46
<PAGE>

         6.       Reliance on Documents and Experts. The Collateral Agent shall
be entitled to rely upon any notice, consent, certificate, affidavit, statement,
paper, document, writing or communication (which may be by telegram, cable,
telex, telecopier, or telephone) reasonably believed by it to be genuine and to
have been signed, sent or made by the proper person or persons, and upon
opinions and advice of its own legal counsel, independent public accountants and
other experts selected by the Collateral Agent.

         7.       Duties of the Collateral Agent; Standard of Care.

                  (a)    The Collateral Agent's only duties are those expressly
set forth in this Agreement, and the Collateral Agent hereby is authorized to
perform those duties in accordance with commercially reasonable practices. The
Collateral Agent may exercise or otherwise enforce any of its rights, powers,
privileges, remedies and interests under this Agreement and applicable law or
perform any of its duties under this Agreement by or through its officers,
employees, attorneys, or agents.

                  (b)    The Collateral Agent shall act in good faith and with
that degree of care that an ordinarily prudent person in a like position would
use under similar circumstances.

                  (c)    Any funds held by the Collateral Agent hereunder need
not be segregated from other funds except to the extent required by law. The
Collateral Agent shall be under no liability for interest on any funds received
by it hereunder.

         8.       Resignation. The Collateral Agent may resign and be discharged
of its duties hereunder at any time by giving written notice of such resignation
to the other parties hereto, stating the date such resignation is to take
effect. Within 15 days of the giving of such notice, a successor collateral
agent shall be appointed by the Majority in Interest; provided, however, that if
the Lenders are unable so to agree upon a successor within such time period, the
successor collateral agent may be a person designated by the Collateral Agent,
and any and all fees of such successor collateral agent shall be the joint and
several obligation of the Lenders. The Collateral Agent shall continue to serve
until the effective date of the resignation or until its successor accepts the
appointment and receives the Collateral held by the Collateral Agent but shall
not be obligated to take any action hereunder. The Collateral Agent may deposit
any Collateral with the Supreme Court of the State of New York for New York
County or any such other court in New York State that accepts such Collateral.

         9.       Exculpation. The Collateral Agent and its officers, employees,
attorneys and agents, shall not incur any liability whatsoever for the holding
or delivery of documents or the taking of any other action in accordance with
the terms and provisions of this Agreement, for any mistake or error in
judgment, for compliance with any applicable law or any attachment, order or
other directive of any court or other authority (irrespective of any conflicting
term or provision of this Agreement), or for any act or omission of any other
person engaged by the Collateral Agent in connection with this Agreement, unless
occasioned by the exculpated person's own gross negligence or willful
misconduct; and each party hereto hereby waives any and all claims and actions
whatsoever against the Collateral Agent and its officers, employees, attorneys
and agents, arising out of or related directly or indirectly to any or all of
the foregoing acts, omissions and circumstances.

         10.      Indemnification. The Lenders hereby agree to indemnify,
reimburse and hold harmless the Collateral Agent and its directors, officers,
employees, attorneys and agents, jointly and severally, from and against any and

                                       47
<PAGE>

all claims, liabilities, losses and expenses that may be imposed upon, incurred
by, or asserted against any of them, arising out of or related directly or
indirectly to this Agreement or the Collateral, except such as are occasioned by
the indemnified person's own gross negligence or willful misconduct.

         11.      Miscellaneous.

                  (a)    Rights and Remedies Not Waived. No act, omission or
delay by the Collateral Agent shall constitute a waiver of the Collateral
Agent's rights and remedies hereunder or otherwise. No single or partial waiver
by the Collateral Agent of any default hereunder or right or remedy that it may
have shall operate as a waiver of any other default, right or remedy or of the
same default, right or remedy on a future occasion.

                  (b)    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 of conflicts or choice of law (or any other law that would make
any substantive laws of any state other than the State of New York applicable
hereto).

                  (c)    Waiver of Jury Trial and Setoff; Consent to
Jurisdiction; Etc.

                         (i) In any litigation in any court with respect to, in
connection with, or arising out of this Agreement or any instrument or document
delivered pursuant to this Agreement, or the validity, protection,
interpretation, collection or enforcement hereof or thereof, or any other claim
or dispute howsoever arising, between the Collateral Agent and the Lenders or
any Lender, then each Lender, to the fullest extent it may legally do so, (i)
waives the right to interpose any setoff, recoupment, counterclaim or
cross-claim in connection with any such litigation, irrespective of the nature
of such setoff, recoupment, counterclaim or cross-claim, unless such setoff,
recoupment, counterclaim or cross-claim could not, by reason of any applicable
federal or state procedural laws, be interposed, pleaded or alleged in any other
action; and (ii) WAIVES TRIAL BY JURY IN CONNECTION WITH ANY SUCH LITIGATION AND
ANY RIGHT IT MAY HAVE TO CLAIM OR RECOVER IN ANY SUCH LITIGATION ANY SPECIAL,
EXEMPLARY, PUNITIVE OR CONSEQUENTIAL DAMAGES OR ANY DAMAGES OTHER THAN, OR IN
ADDITION TO, ACTUAL DAMAGES. EACH LENDER AGREES THAT THIS SECTION 11(c) IS A
SPECIFIC AND MATERIAL ASPECT OF THIS AGREEMENT AND ACKNOWLEDGE THAT THE
COLLATERAL AGENT WOULD NOT ENTER THIS AGREEMENT IF THIS SECTION 11(c) WERE NOT
PART OF THIS AGREEMENT.

                         (ii) Each Lender irrevocably consents to the exclusive
jurisdiction of any State or Federal Court located within the County of New
York, State of New York, in connection with any action or proceeding arising out
of or relating to this Agreement or any document or instrument delivered
pursuant to this Agreement or otherwise. In any such litigation, each Lender
waives, to the fullest extent it may effectively do so, personal service of any
summons, complaint or other process and agree that the service thereof may be
made by certified or registered mail directed to such Lender at its address for
notice determined in accordance with Section 11(e) hereof. Each Lender hereby
waives, to the fullest extent it may effectively do so, the defenses of forum
non conveniens and improper venue.

                                       48
<PAGE>

                  (d)    Admissibility of this Agreement. Each of the Lenders
agrees that any copy of this Agreement signed by it and transmitted by
telecopier for delivery to the Collateral Agent shall be admissible in evidence
as the original itself in any judicial or administrative proceeding, whether or
not the original is in existence.

                  (e)    Address for Notices. Any notice or other communication
under the provisions of this Agreement shall be given in writing and delivered
in person, by reputable overnight courier or delivery service, by facsimile
machine (receipt confirmed) with a copy sent by first class mail on the date of
transmissions, or by registered or certified mail, return receipt requested,
directed to its addresses set forth below (or to any new address of which either
party hereto shall have informed the other by the giving of notice in the manner
provided herein):

                  In the case of the Collateral Agent, to it at:

                  Barbara R. Mittman
                  551 Fifth Avenue, Suite 1601
                  New York, New York 10176
                  Fax: (212) 697-3575

                  In the case of the Lenders, to:
                  the addresses and telecopier numbers
                  set forth on Schedule A hereto.

                  In the case of Vianet, to:

                  Vianet Technologies, Inc.
                  6509 Windcrest Drive, Suite 160
                  Plano, Texas 75024
                  Fax: (972) 608-0780

                  With a copy to:

                  Sichenzia, Ross & Friedman, LLP
                  135 West 50th Street, 20th Floor
                  New York, NY 10020
                  Attn: Richard Friedman, Esq.
                  Fax: (212) 664-7329

                  (f)    Amendments and Modification; Additional Lender. No
provision hereof shall be modified, altered, waived or limited except by written
instrument expressly referring to this Agreement and to such provision, and
executed by the parties hereto. Any transferee of a Note who acquires a Note
after the date hereof may become a party hereto by signing the signature page
and sending an executed copy of this Agreement to the Collateral Agent.

                  (g)    Fee. Upon the occurrence of an Event of Default, the
Lenders collectively shall pay the Collateral Agent the sum of $5,000 to apply
against an hourly fee of $350 to be paid to the Collateral Agent by the Lenders

                                       49
<PAGE>

for services rendered pursuant to this Agreement. All payments due to the
Collateral Agent under this Agreement including reimbursements must be paid when
billed. The Collateral Agent may refuse to act on behalf of or make a
distribution to any Lender who is not current in payments to the Collateral
Agent. Payments required pursuant to this Agreement shall be pari passu to the
Lenders' interests in the Notes. The Collateral Agent is hereby authorized to
deduct any sums due the Collateral Agent from Collateral in the Collateral
Agent's possession.

                  (h)    Counterparts. This Agreement may be executed by the
parties hereto individually or in any combination, in one or more counterparts,
and by facsimile signature and transmission, each of which shall be an original
and all of which shall together constitute one and the same agreement.

                  (i)    Successors and Assigns. Whenever in this Agreement
reference is made to any party, such reference shall be deemed to include the
successors, assigns, heirs and legal representatives of such party. No party
hereto may transfer any rights under this Agreement, unless the transferee
agrees to be bound by, and comply with all of the terms and provisions of this
Agreement, as if an original signatory hereto on the date hereof.

                  (j)    Captions: Certain Definitions. The captions of the
various sections and paragraphs of this Agreement have been inserted only for
the purposes of convenience; such captions are not a part of this Agreement and
shall not be deemed in any manner to modify, explain, enlarge or restrict any of
the provisions of this Agreement. As used in this Agreement the term "person"
shall mean and include an individual, a partnership, a joint venture, a
corporation, a limited liability company, a trust, an unincorporated
organization and a government or any department or agency thereof.

                  (k)    Severability. In the event that any term or provision
of this Agreement shall be finally determined to be superseded, invalid, illegal
or otherwise unenforceable pursuant to applicable law by an authority having
jurisdiction and venue, that determination shall not impair or otherwise affect
the validity, legality or enforceability (i) by or before that authority of the
remaining terms and provisions of this Agreement, which shall be enforced as if
the unenforceable term or provision were deleted, or (ii) by or before any other
authority of any of the terms and provisions of this Agreement.

                  (l)    Entire Agreement. This Agreement contains the entire
agreement of the parties and supersedes all other agreements and understandings,
oral or written, with respect to the matters contained herein.

                  (m)    Schedules. The Collateral Agent is authorized to annex
hereto any schedules referred to herein.

                                       50
<PAGE>

                  IN WITNESS WHEREOF, the parties hereto have caused this
Collateral Agent Agreement to be signed, by their respective duly authorized
officers or directly, as of the date first written above.

--------------------------------------     -------------------------------------
CELESTE TRUST REG. - Lender                ESQUIRE TRADE & FINANCE INC. - Lender

--------------------------------------     -------------------------------------
SENECA CAPITAL L.P. - Lender               SENECA CAPITAL INTERNATIONAL LTD.
                                           - Lender

--------------------------------------     -------------------------------------
NATHAN A. LOW - Lender                     PEQUOT NAVIGATION OFFSHORE FUND
                                           INC. - Lender

--------------------------------------     -------------------------------------
PEQUOT SCOUT FUND, L.P. - Lender           CARRINGTON SHIPPING, S.A. - Lender

                                           -------------------------------------
                                           BARBARA R. MITTMAN
                                           Collateral Agent

Acknowledged:

Vianet Technologies, Inc.

By:
   -----------------------------------
    Name:
    Title:

--------------------------------------
BAYARD HOLDINGS - Shareholder

--------------------------------------
SONATA HOLDINGS - Shareholder

--------------------------------------
XELIX CAPITAL - Shareholder

This Collateral Agent Agreement may be signed by facsimile signature and
delivered by confirmed facsimile transmission.

                                       51
<PAGE>

                    SCHEDULE A TO COLLATERAL AGENT AGREEMENT

FIRST GROUP

             LENDERS                         PRINCIPAL AMOUNT OF SECURED
                                                 CONVERTIBLE NOTES
--------------------------------------------------------------------------------
CELESTE TRUST REG.                                  $250,000.00
C/o Trevisa-Treuhand-Anstalt
Landstrasse 8
Furstentums 9496
Balzers, Liechtenstein
Fax: 011-431-534-532895
--------------------------------------------------------------------------------
ESQUIRE TRADE & FINANCE, INC.                       $250,000.00
Trident Chambers
P.O. Box 146
Road Town, Tortola, B.V.I.
Fax: 011-41-41-760-1031
--------------------------------------------------------------------------------
SENECA CAPITAL L.P.                                 $258,000.00
527 Madison Avenue, 11th Floor
New York, NY 10022
Fax: 212-758-6060
--------------------------------------------------------------------------------
SENECA CAPITAL INTERNATIONAL LTD.                   $492,000.00
527 Madison Avenue, 11th Floor
New York, NY 10022
Fax: 212-758-6060
--------------------------------------------------------------------------------
NATHAN A. LOW                                       $100,000.00
135 East 57th Street
New York, NY 10022
Fax: 212-421-5944
--------------------------------------------------------------------------------
PEQUOT NAVIGATION OFFSHORE FUND, INC.               $75,000.00
500 Nyala Farm Road
Westport, CT 06880
Fax: 203-429-2430
--------------------------------------------------------------------------------
PEQUOT SCOUT FUND, L.P.                             $425,000.00
500 Nyala Farm Road
Westport, CT 06880
Fax: 203-429-2430
--------------------------------------------------------------------------------
CARRINGTON SHIPPING, S.A.                           $250,000.00
Reid House, 31 Church Street
Hamilton HM12, Bermuda
Fax: 441-292-9241
--------------------------------------------------------------------------------
TOTAL                                               $2,100,000.00
--------------------------------------------------------------------------------

                                       52
<PAGE>

                                  SECOND GROUP

--------------------------------------------------------------------------------
         LENDERS                            PRINCIPAL AMOUNT OF SECURED
                                                  CONVERTIBLE NOTES
--------------------------------------------------------------------------------
SENECA CAPITAL L.P.                                  $1,512,000.00
527 Madison Avenue, 11th Floor
New York, NY 10022
Fax: 212-758-6060
--------------------------------------------------------------------------------
SENECA CAPITAL INTERNATIONAL LTD.                    $2,688,000
527 Madison Avenue, 11th Floor
New York, NY 10022
Fax: 212-758-6060
--------------------------------------------------------------------------------
CELESTE TRUST REG.                                   $250,000.00
C/o Trevisa-Treuhand-Anstalt
Landstrasse 8
Furstentums 9496
Balzers, Liechtenstein
Fax: 011-431-534-532895
--------------------------------------------------------------------------------
ESQUIRE TRADE & FINANCE, INC.                        $250,000.00
Trident Chambers
P.O. Box 146
Road Town, Tortola, B.V.I.
Fax: 011-41-41-760-1031
--------------------------------------------------------------------------------
TOTAL                                                $4,700,000.00
--------------------------------------------------------------------------------

                                       53

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