Document:

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                                                                  EXHIBIT 10.19

                        CONFIDENTIAL TREATMENT REQUESTED

[HANDSPRING LOGO]

Reseller Agreement
--------------------------------------------------------------------------------

        This agreement ("Agreement") is entered into between Handspring, Inc.
("Handspring") a California corporation having offices at 189 Bernardo Ave.
Mountain View, CA 94043 and Best Buy Co., Inc. ("Reseller"), a Minnesota
corporation having offices at 7075 Flying Cloud Drive, Eden Prairie, MN 55344.

        Whereas, Handspring sells a line of handheld computers and associated
accessories;

        Whereas, Reseller is in the business of reselling computer products;

        Whereas, Handspring desires to engage the Reseller for the purposes of
marketing and selling Handspring's handheld computers and associated accessories
in the United States; and

        Therefore, in consideration of the following conditions set for the in
this Agreement, the parties agree to the following.

1.      DEFINITIONS

        "Customer" means an end user of a Product.

        "Limited Warranty Statement" means Handspring's then-current warranty
from Handspring to Customers.

        "Products" means the products in Handspring's then-current reseller
Product List, a current copy of which is attached as Exhibit A. A Product may
include both hardware and software components. Handspring may add to, delete
from, or otherwise modify the Products on the Product List at any time.

        "Territory" means the United States of America.

2.      PRODUCT TERMS

        2.1 APPOINTMENT. Handspring hereby appoints Reseller, and Reseller
accepts such appointment, to act as a non-exclusive reseller of Products only to
Customers located in the Territory. Sale of Products to other resellers or
Reseller's affiliates is strictly prohibited. Reseller will only sell the
Products in face-to-face transactions from physical store outlets located in the
Territory, and will not market or sell the Products using any Internet site or
mail order catalog without specific written authorization by Handspring.

        2.2 PRICES. The prices paid by Reseller to Handspring for Products shall
initially be as set forth in Exhibit A. Handspring shall have the right, at any
time, to change, alter, or amend Product prices upon written notice. Reseller is
eligible to receive price protection in accordance with the guidelines attached
as Exhibit C. Prices are exclusive of all taxes, insurance, and shipping and
handling charges, which are Reseller's sole responsibility.

3.      ORDERING AND PAYMENT

        3.1 ORDERS. Orders shall be in writing and be subject to acceptance by
Handspring. The terms and conditions of each order shall be as provided by this
Agreement, and the provisions of either party's form of purchase order,
acknowledgment or other business forms will not apply to any order
notwithstanding the other party's acknowledgment or acceptance of such form.

        3.2 SHIPMENT. Shipment will be F.O.B. Handspring's specified warehouse
("Delivery Point"), freight collect, at which time title (excluding any software
components of Products) and risk of loss will pass to Reseller. All freight,
insurance and other shipping expenses from Delivery Point, as well as any
expenses related to

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Reseller's special packing requests, will be borne by Reseller unless otherwise
agreed to in writing by Handspring.

        3.3 PAYMENT. Subject to compliance with Handspring's credit
requirements, payments on orders will be due and payable in full * days from the
invoice date. If Reseller is in default of its payment obligations, Handspring
shall give written notice of such default to Reseller. Upon receipt of such
default notice, Reseller shall have * days to cure. If Reseller fails to cure
within the * notice period, Reseller shall pay monthly service charges of 1% per
month for any past due amounts. Handspring may in its sole discretion change
Reseller's credit terms and/or require C.O.D. payment for any shipments.

4.      DEFECTIVE PRODUCT RETURNS. Returns of defective Products will be
processed through return processing centers and consolidated for shipment weekly
or biweekly to Handspring by Reseller. Returns of defective Products will be
paid for by Handspring when Handspring authorized carriers are used. Return
shipment charges via unauthorized carriers and all customs or broker's fees are
the responsibility of Reseller. Handspring reserves the right to charge-back to
Reseller shipping charges incurred on those Products that were not at any point
resold to Customers but were returned as defective and no fault was found.
Incomplete Product returns will be accepted less the value of the missing
components as outlined in Component pricing as exhibited in Exhibit D. Under no
circumstances shall the total defective returns of any specific Product model
number exceed * % of total purchases for that model number in the ninety (90)
days prior to the return request.

Reseller will be in material breach of this Agreement if it returns Products as
"defective" to Handspring when Reseller has not at any point resold such
Products to Customers, except that Reseller may return Products that were not at
any point resold to Customers that are in fact "defective."

5.      RESELLER'S OBLIGATIONS

        5.1 MARKETING DEVELOPMENT. Reseller will aggressively market and
advertise the Products consistent with Reseller's marketing plans and
strategies. So long as Reseller is in compliance with this Agreement, Reseller
may participate in Handspring's Market Development Fund program ("MDF Program").
A copy of the current MDF Program Guidelines is attached as Exhibit B.

        5.2 INVENTORY/ SALES INFORMATION. Reseller will be required to provide
sell through and inventory information for all inventory locations via an
electronic link such as EDI or other standard data transfer and exchange method.
The method must be agreed to in advance by Reseller and Handspring.

        5.3 RESELLER COVENANTS. Reseller will: (i) conduct business in a manner
that reflects favorably at all times on Products and the good name, goodwill and
reputation of Handspring; (ii) avoid deceptive, misleading or unethical
practices that are or might be detrimental to Handspring or Handspring Products;
(iii) make no false or misleading representations with regard to Handspring or
Handspring Products; (iv) not publish or employ, or cooperate in the publication
or employment of, any misleading or deceptive advertising material with regard
to Handspring or Handspring Products; and (v) make no representations,
warranties or guarantees to customers or to the trade with respect to the
specifications, features or capabilities of Handspring Products that are
inconsistent with the literature distributed by Handspring.

        5.4 USE OF TRADEMARKS AND PROPRIETARY NOTICES. During the term of this
Agreement, Reseller may use the trademarks, trade names, logos and designations
used by Handspring for Handspring Products solely in connection with Reseller's
advertisement and promotion of Handspring Products, in accordance with
Handspring's then-current trademark usage policies. Reseller shall not remove or
destroy any copyright notices, trademarks or other proprietary markings on the
Products, software, documentation or other materials related to the Products.
Upon termination of this Agreement Reseller may continue to advertise and
promote the Products using Handspring's trademarks and trade names until
inventory depletion. Handspring may not use Reseller's trade names, trademarks
or service marks without first obtaining Reseller's express approval.

6.      TERM AND TERMINATION

        6.1 TERM. This Agreement shall commence on the Effective Date and
continue for twelve (12) months thereafter unless terminated earlier as provided
herein.

* Confidential treatment has been requested for certain portions of this
  document pursuant to an application for confidential treatment sent to the
  Securities and Exchange Commission. Such portions are omitted from this filing
  and are filed separately with the Securities and Exchange Commission.

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        6.2 TERMINATION WITHOUT CAUSE. Reseller or Handspring may terminate this
Agreement without cause, at any time, by written notice to the other party not
less than thirty (30) days prior to the effective date of termination. All
unfilled orders pending at the time of the date of such notice of termination
shall be deemed canceled, and Handspring and Reseller hereby waive all claims
against the other in connection with the cancellation of such orders.

        6.3 TERMINATION FOR BREACH.
Handspring may terminate this Agreement, for cause, by written notice to
Reseller not less than ten (10) days prior to the effective date of such notice
in the event that: (i) Reseller fails to pay past due invoices within thirty
(30) days after notice that invoices are past due; (ii) Reseller fails to
resolve and remove from Handspring unauthorized debits after a remedy period of
15 business days from date of debit, Reseller violates any other material
provision of this Agreement; or (iv) control of Reseller is acquired, directly
or indirectly, by a third party, or Reseller is merged with a third party. Upon
giving its notice of termination, Handspring may alter its terms of sale,
including credit terms, and take such other action as may be consistent with the
termination of Reseller as an authorized Handspring Reseller.

        6.4 TERMINATION FOR INSOLVENCY. At the option of Handspring or Reseller,
this Agreement shall terminate immediately if: (i) a receiver is appointed for
the other party or its property; (ii) the other party becomes insolvent or
unable to pay its debts as they mature or ceases to pay its debts as they mature
in the ordinary course of business, or makes an assignment for the benefit of
creditors; (iii) any proceedings are commenced by or for the other party under
any bankruptcy, insolvency or debtors' relief law; (iv) any proceedings are
commenced against the other party under any bankruptcy insolvency or debtor's
relief law, and such proceedings have not been vacated or set aside within sixty
(60) days from the date of commencement thereof; or (v) the other party
commences to dissolve under applicable corporate law statutes.

        6.5 TERMINATION/EXPIRATION ACCOUNTING. All amounts payable by Reseller
to Handspring shall survive termination and become immediately due and payable.
In addition, Handspring shall have the right to repurchase unsold Products in
Reseller's inventory. Within ten (10) days following termination, Reseller shall
furnish Handspring with an inventory of unsold Products. Within ten (10) days
after receipt of such inventory, Handspring shall notify Reseller in writing
whether or not Handspring intends to repurchase from Reseller all or part of
such inventory at the original invoice price (less discounts, price protection
or other credits previously granted). Handspring shall pay all transportation
and other costs connected with shipping such Products to Handspring.

7.      WARRANTY

        7.1 CUSTOMER WARRANTY. Handspring provides a Limited Warranty Statement
to Customers. Reseller will make available to Customers a copy of the Limited
Warranty Statement and will not make any representations or statements
inconsistent with such Limited Warranty Statement. Reseller shall have the right
to return at HANDSPRING'S expense and for full credit (if there are sufficient
funds to offset) or refund of the purchase price any products for which the sale
is prohibited by applicable local, state, or federal law, ordinance, rule or
regulation.

        7.2 EXPRESS DISCLAIMER. Handspring MAKES NO WARRANTIES OR
REPRESENTATIONS AS TO THE Products, EXCEPT AS SET FORTH ABOVE. ALL IMPLIED
WARRANTIES AND CONDITIONS, INCLUDING BUT NOT LIMITED TO IMPLIED WARRANTIES OF
MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NONINFRINGEMENT, ARE
HEREBY DISCLAIMED.

8.      LIMITATION OF LIABILITY. THE LIABILITY OF Handspring AND ITS SUPPLIERS
ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE SUPPLY OF Products
HEREUNDER, SHALL BE LIMITED TO THE ACTUAL AMOUNTS PAID BY RESELLER TO Handspring
FOR THE Products GIVING RISE TO SUCH DAMAGES, AND SHALL IN NO EVENT INCLUDE LOSS
OF PROFITS, COST OF PROCURING SUBSTITUTE GOODS OR SERVICES, OR ANY INCIDENTAL,
INDIRECT OR CONSEQUENTIAL DAMAGES OF ANY KIND, EVEN IF Handspring OR ITS
SUPPLIER IS AWARE OF THE POSSIBILITY OF SUCH DAMAGES.

        9. CONFIDENTIALITY. The parties agree to maintain the confidentiality of
information relating to products, sales data, and other business information
shared by the parties and not generally known to the public,

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as set forth in the Non-Disclosure Agreement executed by the parties on , which
is incorporated herein by reference.

10.     GENERAL

        10.1 ASSIGNMENT. Neither party may assign, delegate, or transfer the
Agreement, or any of its rights or duties hereunder, without the prior written
consent of the other party. Any attempted assignment or delegation in violation
of this section shall be void. The provisions of this Agreement shall be binding
upon and inure to the benefit of the parties, their successors and permitted
assigns. Notwithstanding the foregoing, Handspring may assign its rights and
duties hereunder in connection with a merger, consolidation, spin-off, corporate
reorganization, acquisition, or sale of all or substantially all the assets of
Handspring.

        10.2 GOVERNING LAW. This Agreement shall be governed by the laws of the
State of California (other than its conflicts of law principles), excluding the
United Nations Convention on Contracts for the International Sale of Goods. The
parties hereby consent to the exclusive jurisdiction of and venue in the federal
and/or state courts located in Santa Clara County, California.

        10.3 INDEPENDENT CONTRACTORS. In performing their respective duties
under this Agreement, each of the parties will be operating as an independent
contractor. Nothing contained herein will in any way constitute any association,
partnership, or joint venture between the parties hereto, or be construed to
evidence the intention of the parties to establish any such relationship.
Neither party will have the power to bind the other party or incur obligations
on the other party's behalf without the other party's prior written consent.

        10.4 MODIFICATION AND WAIVER. No modification to this Agreement, nor any
waiver of any rights, will be effective unless assented to in writing by the
party to be charged, and the waiver of any breach or default shall not
constitute a waiver of any other right hereunder or any subsequent breach or
default.

        10.5 NOTICES. Any required or permitted notices hereunder must be given
in writing at the address of each party set forth below, or to such other
address as either party may substitute by written notice to the other in the
manner contemplated herein, by one of the following methods: hand delivery;
registered, express, or certified mail, return receipt requested, postage
prepaid; or nationally-recognized private express courier. Notices will be
deemed given on the date received.

        10.6 SEVERABILITY. If for any reason any provision of this Agreement
shall be held by a court of competent jurisdiction to be invalid or
unenforceable, the remaining provisions of this Agreement shall remain in full
force and effect.

        10.7 LIMITATION OF ACTION. Any legal action arising out of this
Agreement shall be barred unless commenced within one (1) year of the act or
omission giving rise to the action. Such limitation shall not apply to any
actions asserted against Reseller by Handspring arising from any delinquencies
in payment for Products.

        10.8 ENTIRE AGREEMENT. This Agreement and the exhibits attached hereto
constitute the entire and exclusive agreement between the parties hereto with
respect to the subject matter hereof and supersede any prior agreements between
the parties with respect to such subject matter.

In witness whereof, the parties have caused this Agreement to be executed by
their respective authorized representatives as of the Effective Date.

Best Buy Co., Inc.                             Handspring

/s/  [Illegible]                               /s/  Greg Woock, VP North
      V.P. Computers   3/10/00                        American Sales   3/21/00
-------------------------------                -------------------------------
Name and Title          Date                   Name and Title           Date

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[HANDSPRING LOGO]

Price List                                                       DATED 1/24/00
Exhibit A

HANDHELD COMPUTERS

<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
UPC CODE            MODEL            PRODUCT                  DESCRIPTION                                      COST     MAP PRICE
-----------------------------------------------------------------------------------------------------------------------------------
<S>                 <C>              <C>                      <C>                                              <C>     <C>
684736100014        1000E            VISOR GRAPHITE           2 mb Visor handheld computer includes: USB       *             *
                                                              HotSync cradle, Mac adapter stylus, snap
                                                              cover Palm Desktop software (Windows and
                                                              Mac) Software link to Microsoft Outlook
                                                              (Windows only) 2 AAA batteries

-----------------------------------------------------------------------------------------------------------------------------------
684736100014        1001E            VISOR DELUXE GRAPHITE    Graphite Case 8 mb handheld computer             *             *
                                                              includes: USB HotSync cradle, Mac adapter,
                                                              slip on leather case, snap cover, Stylus,
                                                              Palm Desktop software (Windows and Mac)
                                                              Software link to Microsoft Outlook (Windows
                                                              only) 2 AAA batteries

-----------------------------------------------------------------------------------------------------------------------------------
684736100014        1002E            VISOR DELUXE  ICE        Clear accented Case 8 mb handheld computer       *             *
                                                              includes: USB HotSync cradle, Mac adapter,
                                                              slip on leather case, snap cover, Stylus,
                                                              Palm Desktop software (Windows and Mac)
                                                              Software link to Microsoft Outlook (Windows
                                                              only) 2 AAA batteries

-----------------------------------------------------------------------------------------------------------------------------------
684736100014        1003E            VISOR DELUXE BLUE        Blue accented Case 8 mb handheld computer        *             *
                                                              includes: USB HotSync cradle, Mac adapter,
                                                              slip on leather case, snap cover, Stylus,
                                                              Palm Desktop software (Windows and Mac)
                                                              Software link to Microsoft Outlook (Windows
                                                              only) 2 AAA batteries

-----------------------------------------------------------------------------------------------------------------------------------
684736100014        1004E            VISOR DELUXE GREEN       Green accented Case 8 mb handheld computer       *             *
                                                              includes: USB HotSync cradle, Mac adapter,
                                                              slip on leather case, snap cover, Stylus,
                                                              Palm Desktop software (Windows and Mac)
                                                              Software link to Microsoft Outlook (Windows
                                                              only) 2 AAA batteries

-----------------------------------------------------------------------------------------------------------------------------------
684736100014        1005E            VISOR DELUXE  ORANGE     Orange accented Case8 mb handheld computer       *             *
                                                              includes: USB HotSync cradle, Mac adapter,
                                                              slip on leather case, snap cover, Stylus,
                                                              Palm Desktop software (Windows and Mac)
                                                              Software link to Microsoft Outlook (Windows
                                                              only) 2 AAA batteries
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

* Confidential treatment has been requested for certain portions of this
  document pursuant to an application for confidential treatment sent to the
  Securities and Exchange Commission. Such portions are omitted from this filing
  and are filed separately with the Securities and Exchange Commission.

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<TABLE>
<CAPTION>
SPRINGBOARD MODULES
-----------------------------------------------------------------------------------------------------------------------------------
<S>                 <C>              <C>                      <C>                                              <C>          <C>
684736600019        6000E            33.6 MODEM  MODULE       Module modem. Adding just under half an inch     *             *
                                                              to the depth of your handheld. It's a
                                                              fully-featured Hayes-compatible 33.6Kbs
                                                              modem. Includes

-----------------------------------------------------------------------------------------------------------------------------------
684736600118        6001E            8MB FLASH  MODULE        Expand your Visors memory with this 8MB          *             *
                                                              Flash Memory Module. Stores over 200 typical
                                                              Palm OS applications!

-----------------------------------------------------------------------------------------------------------------------------------
684736600217        6002E            BACKUP SPRINGBOARD
                                     MODULE                   Back up your entire handheld with one touch.     *             *
                                                              Ideal for mobile users who don't have access
                                                              to their desktop for HotSyncing, or users
                                                              who don't HotSync with a PC.

-----------------------------------------------------------------------------------------------------------------------------------
684736600316        6003E            TIGER WOODS GOLF
                                     SPRINGBOARD MODULE       Electronic Arts'(TM)Tiger Woods PGA              *             *
                                                              TOUR(R)Golf game. High resolution,
                                                              full-motion graphics, and a highly realistic
                                                              simulation of golf physics allow you to play
                                                              a round at TPC at Summerlin(TM)TPC at
                                                              Sawgrass(TM) and Badlands Golf Club(TM)
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
ACCESSORIES
-----------------------------------------------------------------------------------------------------------------------------------
<S>                 <C>              <C>                      <C>                                              <C>          <C>
684736300308        3003W            SERIAL HOTSYNC
                                     CRADLE, ICE              Enables users of non-USB equipped PCs and        *             *
                                                              Macs to HotSync their Visor(TM)to computers
                                                              through the serial port. Compatible with
                                                              Windows 95, Windows NT, and Mac OS 7.5.3 and
                                                              later.

-----------------------------------------------------------------------------------------------------------------------------------
684736300407        3004W            SERIAL HOTSYNC
                                     CRADLE, GRAPHITE         Enables users of non-USB equipped PCs and        *             *
                                                              Macs to HotSync their Visor(TM)to computers
                                                              through the serial port. Compatible with
                                                              Windows 95, Windows NT, and Mac OS 7.5.3 and
                                                              later.

-----------------------------------------------------------------------------------------------------------------------------------
684736300506        3005W            PREMIUM STYLUS 5 PACK    Provides 5 premium metal stylus replacements     *             *
                                                              for your Visor(TM). Appropriately weighted
                                                              and pleasing to the touch, the Styli are a
                                                              classy and useful upgrade.

-----------------------------------------------------------------------------------------------------------------------------------
684736301008        3010W            SLIM LEATHER CASE        Velcro tab closure, slots for cards, pocket      *             *
                                                              for money. Sewn-in attachment for Visor
                                                              device. Dimensions: 5" x 3 1/4"

-----------------------------------------------------------------------------------------------------------------------------------
684736301206        3012W            BI-FOLD LEATHER CASE     3 paper pads, pen and stylus holders. Slots      *             *
                                                              for cards and pocket for money. Sewn-in
                                                              attachment device for Visor device.
                                                              Dimensions: 6" x 4"
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

* Confidential treatment has been requested for certain portions of this
  document pursuant to an application for confidential treatment sent to the
  Securities and Exchange Commission. Such portions are omitted from this filing
  and are filed separately with the Securities and Exchange Commission.

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[HANDSPRING LOGO]

Market Development Fund (MDF) Guidelines
Exhibit B

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        -       Reseller will submit plans for marketing the Products to
                Handspring, which must approve such marketing plan prior to its
                execution. These marketing activities and their respective costs
                will be agreed to in advance and approved in writing by Reseller
                and Handspring.

        -       Handspring will provide credits (so called Market Development
                Funding ("MDF")) that can be used against payments due from
                Reseller to Handspring for the purchase of Products. These
                credits are not transferable.

        -       The Market Development Funding approved by Handspring is only
                available to be used during the quarter that the allowance is
                set aside for. Thus, advertising or marketing activities that
                are approved for funding with Handspring MDF must be performed
                during the quarter.

        -       Funds not used for prior approved activities within a quarter
                from their allowance date will be automatically forfeited.
                Expired funds will not be reinstated or rolled over to another
                quarter.

        -       Handspring must be invoiced within 90 days of completion of the
                activity. For example, allowances granted January 1 and executed
                on March 1 must be invoiced by the end of June of the same year.

        -       Pre-billing and or debiting of Handspring for marketing
                activities is not permitted.

        -       Handspring must be provided with a detailed rate card that
                outlines costs, circulation and reach of each activity.

        -       Only advertisements, which adhere to the Handspring Minimum
                Advertising Pricing Policy (a current copy of which is attached
                to these Guidelines) are eligible for reimbursement.

        -       Approved activities must be fully completed by Reseller as
                promised and verified by Handspring within the time limits
                agreed to in advance. Reseller will refund the unexecuted
                portion of the activity or provide HANDSPRNG with an equal value
                in another area of promotion that is agreed to by Reseller and
                Handspring. For example, if Handspring approves an end cap for
                $10,000 in all Reseller stores, and Reseller only executes end
                caps in 70% of stores, Reseller agrees to refund or provide
                Handspring with $3,000 of value in another area of promotion
                approved by Reseller and Handspring.

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[HANDSPRING LOGO]

Market Development Fund Guidelines

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

It is Handspring's policy not to pay for advertisements that are not
pre-approved and in compliance with the Handspring Minimum Advertised Price
("MAP") policy. Reseller maintains complete discretion as to its pricing
practices. However, to be eligible for reimbursement, Reseller's advertisements
must comply with the following guidelines:

        -       Pricing in Reseller advertisements must be equal to or higher
                than the minimum advertised price reflected in current Price
                List shown as "Exhibit A". An advertisement where no pricing is
                shown is considered to be in compliance.

        -       Deviations of up to one dollar ($0.99) above or below MAP prices
                are allowable to accommodate various Reseller's pricing
                practices.

        -       Specific product(s) or model(s) by SKU or model numbers must be
                designated in ad.

        -       Two or more Handspring products advertised and sold together may
                not be advertised at less than the combined MAP of the two
                Products.

        -       Advertisements of Handspring product with free goods must be
                submitted to Handspring for approval.

        -       Advertisements, which show Handspring Product bundled with any
                other products, must be submitted to Handspring for prior
                approval.

        -       Advertisements that include rebates general in-store rebates,
                service sign-up rebates, category rebates or other financial
                mechanisms to lower the price of Product must be submitted to
                Handspring for approval.

        -       Any violations of Handsprings MAP policy will result in
                non-payment for advertisement vehicle that deviates from MAP
                guidelines.

Handspring is in no way responsible for or involved with Reseller pricing
decisions. It is Handspring's policy not to pay for advertisements that are not
pre-approved and in compliance with the Handspring MAP policy.

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[HANDSPRING LOGO]

Price Protection Guidelines
Exhibit C

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

As an authorized Reseller of Products, Reseller is eligible to receive price
protection In accordance with Handspring's price protection policy. In the event
of such a price reduction, Handspring will notify Reseller in advance and in
writing of price reduction and supply Reseller with a price protection claim
form and price protection program number to reference when claiming price
protection. This notification will identify the part and model number of the
Product to be price protected, the new price, the amount of the price protection
per unit and the effective date of the price reduction. Reseller will be
eligible to receive this amount per unit of said Product Reseller has in
inventory at the time of the price reduction if claimed and processed in
accordance with Handspring price protection guidelines.

        -       To be eligible for price protection, Reseller must provide
                electronic Product Inventory and sell through reports to
                Handspring on a weekly basis. These reports must show all
                Product inventory owned by reseller including inventory in
                transit to or from its warehouses, cross dock facilities,
                distribution centers, Returned Merchandise Authorization (RMA)
                centers, stores or other Product inventory locations. Inventory
                in locations not visible through these reports is not eligible
                for price protection by Handspring. Electronic reports must be
                in the form of EDI or other generally accepted system for and
                taken from the Reseller's inventory tacking or Enterprise
                computing system. Manual inventory reports or other electronic
                form outside of the guidelines will not be accepted unless
                agreed to in advance, in writing by Handspring. Handspring, at
                their option, may use Reseller's mainframe inventory reporting
                system (SMHI), until an agreeable EDI system is in place.

        -       Handspring and Reseller will validate and acknowledge Reseller
                inventory reports with and credit Reseller for each unit
                eligible for price protection the difference new and old
                Reseller costs based on the inventory reports provided by
                Reseller.

        -       Only product purchased directly from Handspring is eligible for
                price protection. Demo units, close outs or special purchases
                are excluded from this price protection policy unless otherwise
                approved, in writing, by Handspring.

        -       Only Products reflected in current Handspring price lists is
                eligible for price protection.

        -       At Handspring's expense upon reasonable notice, at reasonable
                times and places, Handspring reserves the right to validate
                Reseller inventory claims by third party audit at any time and
                requires Reseller to keep sufficient records for a period of 18
                months.

        -       Once a credit has been signed for and acknowledged by both
                parties, no additional claims will be allowed.

        -       Debits for price reductions will not be accepted by Handspring;
                Handspring will only provide credits.

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[HANDSPRING LOGO]

Component Price List                                               DATED 3/1/00

Exhibit D

HANDHELD COMPUTER COMPONENTS

<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------
COMPONENT                                DESCRIPTION                                    COST
--------------------------------------------------------------------------------------------
<S>                                      <C>                                           <C>
 VISOR                                   2 mb Visor  handheld computer                    *

--------------------------------------------------------------------------------------------
 VISOR DELUXE                            8 mb Visor handheld computer                     *

--------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<S>                                     <C>                                             <C>
USB CRADLE COMPONENTS
--------------------------------------------------------------------------------------------
USB HOTSYNC CRADLE, ICE                  USB Hotsync cradle                               *

--------------------------------------------------------------------------------------------
USB HOTSYNC CRADLE, GRAPHITE             USB Hotsync cradle                               *

--------------------------------------------------------------------------------------------
</TABLE>

* Confidential treatment has been requested for certain portions of this
  document pursuant to an application for confidential treatment sent to the
  Securities and Exchange Commission. Such portions are omitted from this filing
  and are filed separately with the Securities and Exchange Commission.

                                       10
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[HANDSPRING LOGO]

Vendor Program Agreement

Exhibit E

VENDOR PROGRAM AGREEMENT:                       Vendor:   HandSpring
                                                          ---------------------

NEW VENDOR:   [ ]                               VENDOR #: 539310061
                                                          ---------------------

NEW PROGRAM:  [x]

DEPT.:         6                                BUYER:  Kevin Winneroski and
              ------------------                        Elizabeth Sorenson
                                                        -----------------------

CLASS #:      140-664                           BUYERS EXT.:  x5181 and x5168
              ------------------                              -----------------

<TABLE>
<CAPTION>
1999 FISCAL YEAR                                                       2000 FISCAL YEAR
----------------------------------------------------------------       ------------------------------------------------------------
<S>                                                                    <C>
START DATE:                                                            START DATE:  02/21/2000
           -----------------------------------------------------                   ------------------------------------------------

END DATE:                                                              END DATE:    08/26/2000
           -----------------------------------------------------                   ------------------------------------------------

PAYMENT TERMS:                                                         PAYMENT TERMS: net *  days
              --------------------------------------------------                      ---------------------------------------------

FREIGHT TERMS:                                                         FREIGHT TERMS:
           -----------------------------------------------------                   ------------------------------------------------

DFI:                                                                   DFI:
    ------------------------------------------------------------           --------------------------------------------------------

CO-OP:                                                                 CO-OP: 0.00%
      ----------------------------------------------------------              -----------------------------------------------------
            (Please Specify Payment Method: POP,                                        (Please Specify Payment Method: POP,
                     DFI, Auto Credit)                                                             DFI, Auto Credit)

           -----------------------------------------------------                   ------------------------------------------------
MDF:                                                                   MDF:                      *
    ------------------------------------------------------------            -------------------------------------------------------
                 (Please Specify Payment Method: POP,                                  (Please Specify Payment Method: POP,
                          DFI, Auto Credit)                                                        DFI, Auto Credit)

                                                                                Credit will be issued for pre-approved
           -----------------------------------------------------                ---------------------------------------------------
                                                                                activities based on Best Buy's proof
           -----------------------------------------------------                ---------------------------------------------------
                                                                                of execution of such activities
           -----------------------------------------------------                ---------------------------------------------------

SEASONAL DATING                                                        SEASONAL DATING  yes, program determined at a later date
               -------------------------------------------------                        -------------------------------------------

NEW ITEM OPENING ORDERS:                                               NEW ITEM OPENING ORDERS:       No
                        ----------------------------------------                               ------------------------------------

DEMO PROGRAM                                                           DEMO PROGRAM   No
             ---------------------------------------------------                    -----------------------------------------------

DEFECTIVES                                                             DEFECTIVES     yes per agreement
          ------------------------------------------------------                 --------------------------------------------------

                                                                       RETURNS  yes, per agreement
           -----------------------------------------------------                ---------------------------------------------------

STOCK BALANCING                                                        STOCK BALANCING yes, per agreement
               -------------------------------------------------                       --------------------------------------------

PRICE PROTECTION:                                                      PRICE PROTECTION: yes, per agreement
                 -----------------------------------------------                         ------------------------------------------

FREIGHT ALLOWANCE                                                      FREIGHT ALLOWANCE         *
                 -----------------------------------------------                         ------------------------------------------
</TABLE>

* Confidential treatment has been requested for certain portions of this
  document pursuant to an application for confidential treatment sent to the
  Securities and Exchange Commission. Such portions are omitted from this filing
  and are filed separately with the Securities and Exchange Commission.

                                       11<PAGE>

                                                                   EXHIBIT 4.1

                       THE DUN & BRADSTREET CORPORATION

                                      and

                         EQUISERVE TRUST COMPANY, N.A.

                                as Rights Agent

                     Amended and Restated Rights Agreement
                        Dated as of September 27, 2000

<PAGE>

                     AMENDED AND RESTATED RIGHTS AGREEMENT

          Amended and Restated Rights Agreement, dated as of  September 27,

2000 (as amended, supplemented or otherwise modified from time to time, the

"Rights Agreement") between The Dun & Bradstreet Corporation, a Delaware

corporation (the "Company"), and EquiServe Trust Company, N.A. formerly

known as First Chicago Trust Company of New York, the "Rights Agent").

          The Board of Directors of the Company has authorized and declared a

dividend of one preferred share purchase right (a "Right") for each share of

Common Stock (as hereinafter defined) of the Company outstanding as of the

close of business (as defined below) on June 19, 1998 (the "Record Date")

each Right representing the right to purchase one one-thousandth (subject to

adjustment) of a share of Preferred Stock (as hereinafter defined), upon the

terms and subject to the conditions herein set forth, and the Board of

Directors has further authorized and directed the issuance of one Right

(subject to adjustment as provided herein) with respect to each share of

Common Stock that shall become outstanding between the Record Date and the

earlier of the Distribution Date and the Expiration Date (as such terms are

hereinafter defined); provided, however, that Rights may be issued with

respect to shares of Common Stock that shall become outstanding after the

Distribution Date and prior to the Expiration Date in accordance with Section

22.

                                      -2-

<PAGE>

          Accordingly, in consideration of the premises and the mutual

agreements herein set forth, the parties hereby agree as follows:

          Section 1.  Certain Definitions.  For purposes of this Rights

Agreement, the following terms have the meaning indicated:

          (a)  "Acquiring Person" shall mean any Person (as such term is

     hereinafter defined) who or which shall be the Beneficial Owner (as such

     term is hereinafter defined) of 15% or more of the shares of Common

     Stock then outstanding, but shall not include an Exempt Person (as such

     term is hereinafter defined); provided, however, that if the Board of

     Directors of the Company determines in good faith that a Person who

     would otherwise be an "Acquiring Person" becomes the Beneficial Owner of

     a number of shares of Common Stock such that the Person would otherwise

     qualify as an "Acquiring Person" inadvertently (including, without

     limitation, because (i) such Person was unaware that it beneficially

     owned a percentage of Common Stock that would otherwise cause such

     Person to be an "Acquiring Person" or (ii) such Person was aware of the

     extent of its Beneficial Ownership of Common Stock but had no actual

     knowledge of the consequences of such Beneficial Ownership under this

     Rights Agreement) and without any intention of changing or influencing

     control of the Company, then such Person shall not be deemed to be or to

     have become an "Acquiring Person" for any purposes of this Rights

     Agreement unless and until such Person shall have failed to divest

     itself, as soon as practicable (as determined, in good faith, by the

     Board of Directors of the Company), of Beneficial Ownership of a

                                      -3-

<PAGE>

     sufficient number of shares of Common Stock so that such Person would no

     longer otherwise qualify as an "Acquiring Person". Notwithstanding the

     foregoing, (i) the sole stockholder of the Company at the time of the

     adoption of this Rights Agreement will not be deemed an Acquiring Person

     for any purposes of this Rights  Agreement prior to the distribution by

     such Person of the Company's outstanding Common Stock to the

     stockholders of such Person and (ii) no Person shall become an

     "Acquiring Person" as the result of an acquisition of shares of Common

     Stock by the Company which, by reducing the number of shares

     outstanding, increases the proportionate number of shares beneficially

     owned by such Person to 15% or more of the shares of Common Stock then

     outstanding, provided, however, that if a Person shall become the

     Beneficial Owner of 15% or more of the shares of Common Stock then

     outstanding by reason of such share acquisitions by the Company and

     thereafter becomes the Beneficial Owner of any additional shares of

     Common Stock (other than pursuant to a dividend or distribution paid or

     made by the Company on the outstanding Common Stock in shares of Common

     Stock or pursuant to a split or subdivision of the outstanding Common

     Stock), then such Person shall be deemed to be an "Acquiring Person"

     unless upon the consummation of the acquisition of such additional

     shares of Common Stock such Person does not beneficially own 15% or more

     of the shares of Common Stock then outstanding.   For all purposes of

     this Rights Agreement, any calculation of the number of shares of Common

     Stock outstanding at any particular time, including for purposes of

                                      -4-

<PAGE>

     determining the particular percentage of such outstanding shares of

     Common Stock of which any Person is the Beneficial Owner, shall be made

     in accordance with the last sentence of Rule 13d-3(d)(1)(i) of the

     General Rules and Regulations under the Securities Exchange Act of 1934,

     as amended (the "Exchange Act"), as in effect on the date hereof.

          (b)  "Affiliate" and "Associate" shall have the respective meanings

     ascribed to such terms in Rule 12b-2 of the General Rules and

     Regulations under the Securities Exchange Act of 1934, as amended (the

     "Exchange Act"), as in effect on the date of this Rights Agreement.

          (c)  A Person shall be deemed the "Beneficial Owner" of, shall be

     deemed to have "Beneficial Ownership" of and shall be deemed to

     "beneficially own" any securities:

               (i)  which such Person or any of such Person's Affiliates or

          Associates is deemed to beneficially own, directly or indirectly

          within the meaning of Rule 13d-3 of the General Rules and

          Regulations under the Exchange Act as in effect on the date of this

          Rights Agreement;

              (ii)  which such Person or any of such Person's Affiliates or

          Associates has (A) the right to acquire (whether such right is

          exercisable immediately or only after the passage of time) pursuant

          to any agreement, arrangement or understanding (other than

          customary agreements with and between underwriters and selling

          group members with respect to a bona fide public offering of

          securities), or upon the exercise of conversion rights, exchange

                                      -5-

<PAGE>

          rights, rights, warrants or options, or otherwise; provided,

          however, that a Person shall not be deemed the Beneficial Owner of,

          or to beneficially own, (x) securities tendered pursuant to a

          tender or exchange offer made by or on behalf of such Person or any

          of such Person's Affiliates or Associates until such tendered

          securities are accepted for purchase, (y) securities which such

          Person has a right to acquire on the exercise of Rights at any time

          prior to the time any Person becomes an Acquiring Person or (z)

          securities issuable upon exercise of Rights from and after the time

          a Person becomes an Acquiring Person if such Rights were acquired

          by such Person or any of such Person's Affiliates or Associates

          prior to the  Distribution Date or pursuant to Section 3(a) or

          Section 22 hereof ("original Rights") or pursuant to Section 11(i)

          or Section 11(n) with respect to an adjustment to original Rights;

          or (B) the right to vote pursuant to any agreement, arrangement or

          understanding; provided, however, that a Person shall not be deemed

          the Beneficial Owner of, or to beneficially own, any security by

          reason of such agreement, arrangement or understanding if the

          agreement, arrangement or understanding to vote such security (1)

          arises solely from a revocable proxy or consent given to such

          Person in response to a public proxy or consent solicitation made

          pursuant to, and in accordance with, the applicable rules and

          regulations promulgated under the Exchange Act and (2) is not also

                                      -6-

<PAGE>

          then reportable on Schedule 13D under the Exchange Act (or any

          comparable or successor report); or

             (iii)  which are beneficially owned, directly or indirectly, by

          any other Person with which such Person or any of such Person's

          Affiliates or Associates has any agreement, arrangement or

          understanding (other than customary agreements with and between

          underwriters and selling group members with respect to a bona fide

          public offering of securities) for the purpose of acquiring,

          holding, voting (except to the extent contemplated by the proviso

          to Section 1(c)(ii)(B)) or disposing of such securities of the

          Company; provided, however, that no Person who is an officer,

          director, or employee of an Exempt Person shall be deemed, solely

          by reason of such Person's status or authority as such, to be the

          "Beneficial Owner" of, to have "Beneficial Ownership" of or to

          "beneficially own" any securities that are "beneficially owned" (as

          defined in this Section 1(c)), including, without limitation, in a

          fiduciary capacity, by an Exempt Person or by any other such

          officer, director or employee of an Exempt Person.

          (d)  "Business Day" shall mean any day other than a Saturday, a

     Sunday, or a day on which banking institutions in the State of New York,

     or the State in which the principal office of the Rights Agent is

     located, are authorized or obligated by law or executive order to close.

          (e)  "close of business" on any given date shall mean 5:00 P.M.,

     New York City time, on such date; provided, however, that if such date

                                      -7-

<PAGE>

     is not a Business Day it shall mean 5:00 P.M., New York City time, on

     the next succeeding Business Day.

          (f)  "Common Stock" when used with reference to the Company shall

     mean the common stock, par value $.01, of the Company (but shall not

     include the Series Common Stock, par value $.01 of the Company).

     "Common Stock" when used with reference to any Person other than the

     Company shall mean the capital stock (or, in the case of an

     unincorporated entity, the equivalent equity interest) with the greatest

     voting power of such other Person or, if such other Person is a

     subsidiary of another Person, the Person or Persons which ultimately

     control such first-mentioned Person.

          (g)  "Distribution Date" shall have the meaning set forth in

     Section 3 hereof.

          (h)  "equivalent preferred shares" shall have the meaning set forth

     in Section 11(b) hereof.

          (i)  "Exempt Person" shall mean the Company, any Subsidiary (as

     such term is hereinafter defined) of the Company, in each case

     including, without limitation, in its fiduciary capacity, or, any

     employee benefit plan of the Company or of any Subsidiary of the

     Company, or any entity or trustee holding Common Stock for or pursuant

     to the terms of any such plan or for the purpose of funding any such

     plan or funding other employee benefits for employees of the Company or

     of any Subsidiary of the Company.

                                      -8-

<PAGE>

          (j)  "Expiration Date" shall have the meaning set forth in Section

     7 hereof.

          (k)  "Final Expiration Date" shall have the meaning set forth in

     Section 7 hereof.

          (l)  "New York Stock Exchange" shall mean the New York Stock

     Exchange, Inc.

          (m)  "Person" shall mean any individual, firm, corporation,

     partnership, limited liability company, trust or other entity, and shall

     include any successor (by merger or otherwise) of such entity.

          (n)  "Preferred Stock" shall mean the Series A Junior Participating

     Preferred Stock, par value $.01 per share, of the Company having the

     rights and preferences set forth in the Form of Certificate of

     Designation attached to this Rights Agreement as Exhibit A.

          (o)  "Purchase Price" shall have the meaning set forth in Section 7

     hereof.

          (p)  "Record Date" shall have the meaning set forth in the preamble

    to this Rights Agreement.

          (q)  "Redemption Date" shall have the meaning set forth in Section

     7 hereof.

          (r)  "Securities Act" shall mean the Securities Act of 1933, as

     amended.

          (s)  "Stock Acquisition Date" shall mean the first date of public

     announcement (which for purposes of this definition, shall include,

     without limitation, a report filed pursuant to Section 13(d) of the

                                      -9-

<PAGE>

     Exchange Act) by the Company or an Acquiring Person that an Acquiring

     Person has become such or such earlier date as a majority of the Board

     of Directors shall become aware of the existence of an Acquiring Person.

          (t)  "Subsidiary" of any Person shall mean any corporation or other

     entity of which securities or other ownership interests having ordinary

     voting power sufficient to elect a majority of the board of directors or

     other persons performing similar functions are beneficially owned,

     directly or indirectly, by such Person, and any corporation or other

     entity that is otherwise controlled by such Person.

          Section 2.  Appointment of Rights Agent.  The Company hereby

appoints the Rights Agent to act as agent for the Company and the holders of

the Rights (who, in accordance with Section 3 hereof, shall prior to the

Distribution Date also be the holders of Common Stock) in accordance with the

terms and conditions hereof, and the Rights Agent hereby accepts such

appointment.  The Company may from time to time appoint such co-Rights Agents

as it may deem necessary or desirable upon ten (10) days prior notice to the

Rights Agent. The Rights Agent shall have no duty to supervise, and shall in

no event be liable for the acts or omissions of any such Co-Rights Agent.

          Section 3.  Issue of Right Certificates.  (a)  Until the close of

business on the earlier of (i) the tenth day after the Stock Acquisition Date

or (ii) the tenth business day (or such later date as may be determined by

action of the Board of Directors prior to such time as any Person becomes an

Acquiring Person) after the date of the commencement by any Person (other

than an Exempt Person) of, or of the first public announcement of the

                                     -10-

<PAGE>

intention of such Person (other than an Exempt Person) to commence, a tender

or exchange offer the consummation of which would result in any Person (other

than an Exempt Person) becoming the Beneficial Owner of shares of Common

Stock aggregating 15% or more of the Common Stock then outstanding (including

any such date which is after the date of this Rights Agreement and prior to

the issuance of the Rights), the earlier of such dates being herein referred

to as the "Distribution Date"), (x) the Rights will be evidenced (subject to

the provisions of Section 3(b) hereof) by the certificates for Common Stock

registered in the names of the holders thereof and not by separate Right

Certificates, and (y) the Rights will be transferable only in connection with

the transfer of Common Stock.  As soon as practicable after the Distribution

Date, the Company will prepare and execute, the Rights Agent will

countersign, and the Company will send or cause to be sent (and the Rights

Agent will, if requested, send) by first-class, insured, postage-prepaid

mail, to each record holder of Common Stock as of the close of business on

the Distribution Date (other than any Acquiring Person or any Associate or

Affiliate of an Acquiring Person), at the address of such holder shown on the

records of the Company, a Right Certificate, in substantially the form of

Exhibit B hereto (a "Right Certificate"), evidencing one Right (subject to

adjustment as provided herein) for each share of Common Stock so held.  As of

the Distribution Date, the Rights will be evidenced solely by such Right

Certificates.

          (b)  On the Record Date, or as soon as practicable thereafter, the

Company will send a copy of a Summary of Rights to Purchase Shares of

                                     -11-

<PAGE>

Preferred Stock, in substantially the form of Exhibit C hereto (the "Summary

of Rights"), by first-class, postage-prepaid mail, to each record holder of

Common Stock as of the close of business on the Record Date (other than any

Acquiring Person or any Associate or Affiliate of any Acquiring Person), at

the address of such holder shown on the records of the Company.  With respect

to certificates for Common Stock outstanding as of the Record Date, until the

Distribution Date, the Rights will be evidenced by such certificates

registered in the names of the holders thereof together with the Summary of

Rights.  Until the Distribution Date (or, if earlier, the Expiration Date),

the surrender for transfer of any certificate for Common Stock outstanding on

the Record Date, with or without a copy of the Summary of Rights, shall also

constitute the transfer of the Rights associated with the Common Stock

represented thereby.

          Rights shall be issued in respect of all shares of Common Stock

issued or disposed of (including, without limitation, upon disposition of

Common Stock out of treasury stock or issuance or reissuance of Common Stock

out of authorized but unissued shares) after the Record Date but prior to the

earlier of the Distribution Date and the Expiration Date, or in certain

circumstances provided in Section 22 hereof, after the Distribution Date.

Certificates issued for Common Stock (including, without limitation, upon

transfer of outstanding Common Stock, disposition of Common Stock out of

treasury stock or issuance or reissuance of Common Stock out of authorized

but unissued shares) after the Record Date but prior to the earlier of the

                                     -12-

<PAGE>

Distribution Date and the Expiration Date shall have impressed on, printed

on, written on or otherwise affixed to them the following legend:

          This certificate also evidences and entitles the holder
          hereof to certain rights as set forth in a Rights
          Agreement between Moody's Corporation (formerly The Dun &
          Bradstreet Corporation) and EquiServe Trust Company, N.A.
          (formerly First Chicago Trust Company of New York), dated
          as of June 3, 1998, as the same may be amended from time
          to time (the "Rights Agreement"), the terms of which are
          hereby incorporated herein by reference and a copy of
          which is on file at the principal executive offices of
          Moody's Corporation.  Under certain circumstances, as set
          forth in the Rights Agreement, such Rights will be
          evidenced by separate certificates and will no longer be
          evidenced by this certificate. Moody's Corporation will
          mail to the holder of this certificate a copy of the
          Rights Agreement without charge after receipt of a
          written request therefor.  Under certain circumstances,
          as set forth in the Rights Agreement, Rights owned by or
          transferred to any Person who is or becomes an Acquiring
          Person (as defined in the Rights Agreement) and certain
          transferees thereof will become null and void and will no
          longer be transferable.

With respect to such certificates containing the foregoing legend, until the

Distribution Date, the Rights associated with the Common Stock represented by

such certificates shall be evidenced by such certificates alone, and the

surrender for transfer of any such certificate, except as otherwise provided

herein, shall also constitute the transfer of the Rights associated with the

Common Stock represented thereby.  In the event that the Company purchases or

otherwise acquires any Common Stock after the Record Date but prior to the

Distribution Date, any Rights associated with such Common Stock shall be

deemed canceled and retired so that the Company shall not be entitled to

exercise any Rights associated with the Common Stock which are no longer

outstanding.

                                     -13-

<PAGE>

          Notwithstanding this paragraph (c), the omission of a legend shall

not affect the enforceability of any part of this Rights Agreement or the

rights of any holder of the Rights.

          Section 4.  Form of Right Certificates.  The Right Certificates

(and the forms of election to purchase shares and of assignment to be printed

on the reverse thereof) shall be substantially in the form set forth in

Exhibit B hereto and may have such marks of identification or designation and

such legends, summaries or endorsements printed thereon as the Company may

deem appropriate and as are not inconsistent with the provisions of this

Rights Agreement, or as may be required to comply with any applicable law or

with any rule or regulation made pursuant thereto or with any rule or

regulation of the New York Stock Exchange or of any other stock exchange or

automated quotation system on which the Rights may from time to time be

listed, or to conform to usage.  Subject to the provisions of this Rights

Agreement, the Right Certificates shall entitle the holders thereof to

purchase such number of one one-thousandths of a share of Preferred Stock as

shall be set forth therein at the Purchase Price (as determined pursuant to

Section 7), but the number of such one one-thousandths of a share of

Preferred Stock and the Purchase Price shall be subject to adjustment as

provided herein.

          Section 5.  Countersignature and Registration.  (a)  The Right

Certificates shall be executed on behalf of the Company by the Chairman of

the Board of Directors, the President, any of the Vice Presidents, the

Treasurer or the Controller of the Company, either manually or by facsimile

                                     -14-

<PAGE>

signature, shall have affixed thereto the Company's seal or a facsimile

thereof, and shall be attested by the Secretary or an Assistant Secretary of

the Company, either manually or by facsimile signature.  The Right

Certificates shall be manually countersigned by the Rights Agent and shall

not be valid for any purpose unless countersigned.  In case any officer of

the Company who shall have signed any of the Right Certificates shall cease

to be such officer of the Company before countersignature by the Rights Agent

and issuance and delivery by the Company, such Right Certificates,

nevertheless, may be countersigned by the Rights Agent and issued and

delivered by the Company with the same force and effect as though the Person

who signed such Right Certificates had not ceased to be such officer of the

Company; and any Right Certificate may be signed on behalf of the Company

by any Person who, at the actual date of the execution of such Right

Certificate, shall be a proper officer of the Company to sign such Right

Certificate, although at the date of the execution of this Rights Agreement

any such Person was not such an officer.

          (b)  Following the Distribution Date, the Rights Agent will keep or

cause to be kept, at an office or agency designated for such purpose, books

for registration and transfer of the Right Certificates issued hereunder.

Such books shall show the names and addresses of the respective holders of

the Right Certificates, the number of Rights evidenced on its face by each of

the Right Certificates and the date of each of the Right Certificates.

          Section 6.  Transfer, Split Up, Combination and Exchange of Right

Certificates; Mutilated, Destroyed, Lost or Stolen Right Certificates.

                                     -15-

<PAGE>

(a) Subject to the provisions of this Rights Agreement, at any time after the

close of business on the Distribution Date, and prior to the close of

business on the Expiration Date, any Right Certificate or Right Certificates

may be transferred, split up, combined or exchanged for another Right

Certificate or Right Certificates, entitling the registered holder to purchase

a like number of one one-thousandths of a share of Preferred Stock as the Right

Certificate or Right Certificates surrendered then entitled such holder to

purchase.  Any registered holder desiring to transfer, split up, combine or

exchange any Right Certificate or Right Certificates shall make such request

in writing delivered to the Rights Agent, and shall surrender the Right

Certificate or Right Certificates to be transferred, split up, combined or

exchanged at the office or agency of the Rights Agent designated for such

purpose.  Thereupon the Rights Agent shall countersign and deliver to the

Person entitled thereto a Right Certificate or Right Certificates, as the

case may be, as so requested.  The Company may require payment of a sum

sufficient to cover any tax or governmental charge that may be imposed in

connection with any transfer, split up, combination or exchange of Right

Certificates.

          (b)  Subject to the provisions of this Rights Agreement, at any

time after the Distribution Date and prior to the Expiration Date, upon

receipt by the Company and the Rights Agent of evidence reasonably

satisfactory to them of the loss, theft, destruction or mutilation of a Right

Certificate, and, in case of loss, theft or destruction, of indemnity or

security reasonably satisfactory to them, and, at the Company's request,

                                     -16-

<PAGE>

reimbursement to the Company and the Rights Agent of all reasonable expenses

incidental thereto, and upon surrender to the Rights Agent and cancellation

of the Right Certificate if mutilated, the Company will make and deliver a

new Right Certificate of like tenor to the Rights Agent for delivery to the

registered holder in lieu of the Right Certificate so lost, stolen, destroyed

or mutilated.

          Section 7.  Exercise of Rights, Purchase Price; Expiration Date of

Rights.  (a)  Except as otherwise provided herein, the Rights shall become

exercisable on the Distribution Date, and thereafter the registered holder of

any Right Certificate may, subject to Section 11(a)(ii) hereof and except as

otherwise provided herein, exercise the Rights evidenced thereby in whole or

in part upon surrender of the Right Certificate, with the form of election to

purchase on the reverse side thereof duly executed, to the Rights Agent at

the office or agency of the Rights Agent designated for such purpose,

together with payment of the Purchase Price for each one one-thousandth of a

share of Preferred Stock (or other securities, cash or other assets, as the

case may be) as to which the Rights are exercised, at any time which is both

after the Distribution Date and prior to the time (the "Expiration Date")

that is the earliest of (i) the close of business on June 30, 2008 (the

"Final Expiration Date"), (ii) the time at which the Rights are redeemed as

provided in Section 23 hereof (the "Redemption Date") or (iii) the time at

which such Rights are exchanged as provided in Section 24 hereof.

          (b)  The Purchase Price shall be initially $100 for each one

one-thousandth of a share of Preferred Stock purchasable upon the exercise of

                                     -17-

<PAGE>

a Right.  The Purchase Price and the number of one one-thousandths of a share

of Preferred Stock or other securities or property to be acquired upon

exercise of a Right shall be subject to adjustment from time to time as

provided in Sections 11 and 13 hereof and shall be payable in lawful money of

the United States of America in accordance with paragraph (c) of this Section

7.

          (c)  Except as otherwise provided herein, upon receipt of a Right

Certificate representing exercisable Rights, with the form of election to

purchase duly executed, accompanied by payment of the aggregate Purchase

Price for the shares of Preferred Stock to be purchased and an amount equal

to any applicable transfer tax required to be paid by the holder of such

Right Certificate in accordance with Section 9 hereof, in cash or by

certified check, cashier's check or money order payable to the order of the

Company, the Rights Agent shall thereupon promptly (i) (A) requisition from

any transfer agent of the Preferred Stock certificates for the number of

shares of Preferred Stock to be purchased and the Company hereby irrevocably

authorizes its transfer agent to comply with all such requests, or (B)

requisition from the depositary agent appointed by the Company depositary

receipts representing interests in such number of one one-thousandths of a

share of Preferred Stock as are to be purchased (in which case certificates

for the Preferred Stock represented by such receipts shall be deposited by

the transfer agent with the depositary agent) and the Company hereby directs

the depositary agent to comply with such request, (ii) when appropriate,

requisition from the Company the amount of cash to be paid in lieu of

                                     -18-

<PAGE>

issuance of fractional shares in accordance with Section 14 hereof, (iii)

promptly after receipt of such certificates or depositary receipts, cause the

same to be delivered to or upon the order of the registered holder of such

Right Certificate, registered in such name or names as may be designated by

such holder and (iv) when appropriate, after receipt, promptly deliver such

cash to or upon the order of the registered holder of such Right Certificate.

          (d)  Except as otherwise provided herein, in case the registered

holder of any Right Certificate shall exercise less than all the Rights

evidenced thereby, a new Right Certificate evidencing Rights equivalent to

the exercisable Rights remaining unexercised shall be issued by the Rights

Agent to the registered holder of such Right Certificate or to his duly

authorized assigns, subject to the provisions of Section 14 hereof.

          (e)  Notwithstanding anything in this Rights Agreement to the

contrary, neither the Rights Agent nor the Company shall be obligated to

undertake any action with respect to a registered holder of Rights upon the

occurrence of any purported transfer or exercise of Rights pursuant to

Section 6 hereof or this Section 7 unless such registered holder shall have

(i) completed and signed the certificate contained in the form of assignment

or election to purchase set forth on the reverse side of the Rights

Certificate surrendered for such transfer or exercise and (ii) provided such

additional evidence of the identity of the Beneficial Owner (or former

Beneficial Owner) thereof as the Company shall reasonably request.

          Section 8.  Cancellation and Destruction of Right Certificates.

All Right Certificates surrendered for the purpose of exercise, transfer,

                                     -19-

<PAGE>

split up, combination or exchange shall, if surrendered to the Company or to

any of its agents, be delivered to the Rights Agent for cancellation or in

canceled form, or, if surrendered to the Rights Agent, shall be canceled by

it, and no Right Certificates shall be issued in lieu thereof except as

expressly permitted by any of the provisions of this Rights Agreement.  The

Company shall deliver to the Rights Agent for cancellation and retirement,

and the Rights Agent shall so cancel and retire, any other Right Certificate

purchased or acquired by the Company otherwise than upon the exercise

thereof.  The Rights Agent shall deliver all canceled Right Certificates to

the Company, or shall, at the written request of the Company, destroy such

canceled Right Certificates, and in such case shall deliver a certificate of

destruction thereof to the Company.

          Section 9.  Availability of Shares of Preferred Stock.  (a) The

Company covenants and agrees that it will cause to be reserved and kept

available out of its authorized and unissued shares of Preferred Stock or any

shares of Preferred Stock held in its treasury, the number of shares of

Preferred Stock that will be sufficient to permit the exercise in full of all

outstanding Rights.

          (b)  So long as the shares of Preferred Stock (and, following the

time that a Person becomes an Acquiring Person, shares of Common Stock and

other securities) issuable upon the exercise of Rights may be listed or

admitted to trading on the New York Stock Exchange or listed on any other

national securities exchange or quotation system, the Company shall use its

best efforts to cause, from and after such time as the Rights become

                                     -20-

<PAGE>

exercisable, all shares reserved for such issuance to be listed or admitted

to trading on the New York Stock Exchange or listed on any other exchange or

quotation system upon official notice of issuance upon such exercise.

          (c)  From and after such time as the Rights become exercisable, the

Company shall use its best efforts, if then necessary to permit the issuance

of shares of Preferred Stock (and following the time that a Person first

becomes an Acquiring Person, shares of Common Stock and other securities)

upon the exercise of Rights, to register and qualify such shares of Preferred

Stock (and following the time that a Person first becomes an Acquiring

Person, shares of Common Stock and other securities) under the Securities Act

and any applicable state securities or "Blue Sky" laws (to the extent

exemptions therefrom are not available), cause such registration statement

and qualifications to become effective as soon as possible after such filing

and keep such registration and qualifications effective until the earlier of

the date as of which the Rights are no longer exercisable for such securities

and the Expiration Date.  The Company may temporarily suspend, for a period

of time not to exceed 90 days, the exercisability of the Rights in order to

prepare and file a registration statement under the Securities Act and permit

it to become effective.  Upon any such suspension, the Company shall issue a

public announcement stating that the exercisability of the Rights has been

temporarily suspended, as well as a public announcement at such time as the

suspension is no longer in effect.  Notwithstanding any provision of this

Rights Agreement to the contrary, the Rights shall not be exercisable in any

jurisdiction unless the requisite qualification in such jurisdiction shall

                                     -21-

<PAGE>

have been obtained and until a registration statement under the Securities

Act (if required) shall have been declared effective.

          (d)  The Company covenants and agrees that it will take all such

action as may be necessary to ensure that all shares of Preferred Stock (and,

following the time that a Person becomes an Acquiring Person, shares of

Common Stock and other securities) delivered upon exercise of Rights shall,

at the time of delivery of the certificates therefor (subject to payment of

the Purchase Price), be duly and validly authorized and issued and fully paid

and nonassessable shares.

          (e)  The Company further covenants and agrees that it will pay when

due and payable any and all federal and state transfer taxes and charges

which may be payable in respect of the issuance or delivery of the Right

Certificates or of any shares of Preferred Stock (or shares of Common Stock

or other securities) upon the exercise of Rights.  The Company shall not,

however, be required to pay any transfer tax which may be payable in respect

of any transfer or delivery of Right Certificates to a Person other than, or

the issuance or delivery of certificates or depositary receipts for the

Preferred Stock (or shares of Common Stock or other securities) in a name

other than that of, the registered holder of the Right Certificate evidencing

Rights surrendered for exercise or to issue or deliver any certificates or

depositary receipts for Preferred Stock (or shares of Common Stock or other

securities) upon the exercise of any Rights until any such tax shall have

been paid (any such tax being payable by that holder of such Right

                                     -22-

<PAGE>

Certificate at the time of surrender) or until it has been established to the

Company's reasonable satisfaction that no such tax is due.

          Section 10.  Preferred Stock Record Date.  Each Person in whose

name any certificate for Preferred Stock is issued upon the exercise of

Rights shall for all purposes be deemed to have become the holder of record

of the shares of Preferred Stock represented thereby on, and such certificate

shall be dated, the date upon which the Right Certificate evidencing such

Rights was duly surrendered and payment of the Purchase Price (and any

applicable transfer taxes) was made; provided, however, that if the date of

such surrender and payment is a date upon which the Preferred Stock transfer

books of the Company are closed, such Person shall be deemed to have become

the record holder of such shares on, and such certificate shall be dated, the

next succeeding Business Day on which the Preferred Stock transfer books of

the Company are open.  Prior to the exercise of the Rights evidenced thereby,

the holder of a Right Certificate shall not be entitled to any rights of a

holder of Preferred Stock for which the Rights shall be exercisable,

including, without limitation, the right to vote or to receive dividends or

other distributions, and shall not be entitled to receive any notice of any

proceedings of the Company, except as provided herein.

          Section 11.  Adjustment of Purchase Price, Number and Kind of

Shares and Number of Rights.  The Purchase Price, the number of shares of

Preferred Stock or other securities or property purchasable upon exercise of

each Right and the number of Rights outstanding are subject to adjustment

from time to time as provided in this Section 11.

                                     -23-

<PAGE>

          (a)  (i)  In the event the Company shall at any time after the date

          of this Agreement (A) declare and pay a dividend on the Preferred

          Stock payable in shares of Preferred Stock, (B) subdivide the

          outstanding Preferred Stock, (C) combine the outstanding Preferred

          Stock into a smaller number of shares of Preferred Stock or (D)

          issue any shares of its capital stock in a reclassification of the

          Preferred Stock (including any such reclassification in connection

          with a consolidation or merger in which the Company is the

          continuing or surviving corporation), except as otherwise provided

          in this Section 11(a), the number and kind of shares of capital

          stock issuable on the effective date of such subdivision,

          combination or reclassification or at the time of the record date

          for such dividend, as the case may be, shall be proportionately

          adjusted so that the holder of any Right exercised after such time

          shall be entitled to receive the aggregate number and kind of

          shares of capital stock which, if such Right had been exercised

          immediately prior to such date and at a time when the Preferred

          Stock transfer books of the Company were open, the holder would

          have owned upon such exercise and been entitled to receive by

          virtue of such dividend, subdivision, combination or

          reclassification; provided, however, that in no event shall the

          consideration to be paid upon the exercise of one Right be less

          than the aggregate par value of the shares of capital stock of the

          Company issuable upon exercise of one Right.

                                     -24-

<PAGE>

               (ii)  Subject to Section 24 of this Rights Agreement, in the

          event that any Person becomes an Acquiring Person, then (A) the

          Purchase Price shall be adjusted to be the Purchase Price in effect

          immediately prior to such Person becoming an Acquiring Person

          multiplied by the number of one one-thousandths of a share of

          Preferred Stock for which a Right was exercisable immediately prior

          to such Person becoming an Acquiring Person, whether or not such

          Right was then exercisable, and (B) each holder of a Right, except

          as otherwise provided in this Section 11(a)(ii) and Section

          11(a)(iii), hereof, shall thereafter have the right to receive,

          upon exercise at a price equal to the Purchase Price (as so

          adjusted), in accordance with the terms of this Rights Agreement

          and in lieu of shares of Preferred Stock, such number of shares of

          Common Stock (or at the option of the Company, such number of one

          one-thousandths of shares of Preferred Stock) as shall equal the

          result obtained by (x) multiplying the then current Purchase Price

          by the number of one one-thousandths of a share of Preferred Stock

          for which a Right is then exercisable and dividing that product by

          (y) 50% of the then current per share market price of the Company's

          Common Stock (determined pursuant to Section 11(d) hereof) on the

          date such Person became an Acquiring Person; provided, however,

          that the Purchase Price (as so adjusted) and the number of shares

          of Common Stock so receivable upon exercise of a Right shall

          thereafter be subject to further adjustment as appropriate in

                                     -25-

<PAGE>

          accordance with Section 11(f) hereof.  Notwithstanding anything in

          this Rights Agreement to the contrary, however, from and after the

          time (the "invalidation time") when any Person first becomes an

          Acquiring Person, any Rights that are beneficially owned by (x) any

          Acquiring Person (or any Affiliate or Associate of any Acquiring

          Person), (y) a transferee of any Acquiring Person (or any such

          Affiliate or Associate) who becomes a transferee after the

          invalidation time or (z) a transferee of any Acquiring Person (or

          any such Affiliate or Associate) who became a transferee prior to

          or concurrently with the invalidation time pursuant to either (I) a

          transfer from the Acquiring Person to holders of its equity

          securities or to any Person with whom it has any continuing

          agreement, arrangement or understanding regarding the transferred

          Rights or (II) a transfer which the Board of Directors has

          determined is part of a plan, arrangement or understanding which

          has the purpose or effect of avoiding the provisions of this

          paragraph, and subsequent transferees of such Persons, shall be

          void without any further action and any holder of such Rights shall

          thereafter have no rights whatsoever with respect to such Rights

          under any provision of this Rights Agreement.  The Company shall

          use all reasonable efforts to ensure that the provisions of this

          Section 11(a)(ii) are complied with, but shall have no liability to

          any holder of Right Certificates or other Person as a result of its

          failure to make any determinations with respect to an Acquiring

                                     -26-

<PAGE>

          Person or its Affiliates, Associates or transferees hereunder.

          From and after the invalidation time, no Right Certificate shall be

          issued pursuant to Section 3 or Section 6 hereof that represents

          Rights that are or have become void pursuant to the provisions of

          this paragraph, and any Right Certificate delivered to the Rights

          Agent that represents Rights that are or have become void pursuant

          to the provisions of this paragraph shall be canceled.  From and

          after the occurrence of an event specified in Section 13(a) hereof,

          any Rights that theretofore have not been exercised pursuant to

          this Section 11(a)(ii) shall thereafter be exercisable only in

          accordance with Section 13 and not pursuant to this Section

          11(a)(ii).

               (iii)  The Company may at its option substitute for a share of

          Common Stock issuable upon the exercise of Rights in accordance

          with the foregoing subparagraph (ii) such number or fractions of

          shares of Preferred Stock having an aggregate current market value

          equal to the current per share market price of a share of Common

          Stock.  In the event that there shall not be sufficient shares of

          Common Stock issued but not outstanding or authorized but unissued

          to permit the exercise in full of the Rights in accordance with the

          foregoing subparagraph (ii), the Board of Directors shall, with

          respect to such deficiency, to the extent permitted by applicable

          law and any material agreements then in effect to which the Company

          is a party (A) determine the excess of (1) the value of the shares

                                     -27-

<PAGE>

          of Common Stock issuable upon the exercise of a Right in accordance

          with the foregoing subparagraph (ii) (the "Current Value") over (2)

          the then current Purchase Price multiplied by the number of one

          one-thousandths of shares of Preferred Stock for which a Right was

          exercisable immediately prior to the time that the Acquiring Person

          became such (such excess, the "Spread"), and (B) with respect to

          each Right (other than Rights which have become void pursuant to

          Section 11(a)(ii)), make adequate provision to substitute for the

          shares of Common Stock issuable in accordance with subparagraph

          (ii) upon exercise of the Right and payment of the applicable

          Purchase Price, (1) cash, (2) a reduction in such Purchase Price,

          (3) shares of Preferred Stock or other equity securities of the

          Company (including, without limitation, shares or fractions of

          shares of preferred stock which, by virtue of having dividend,

          voting and liquidation rights substantially comparable to those of

          the shares of Common Stock, are deemed in good faith by the Board

          of Directors to have substantially the same value as the shares of

          Common Stock (such shares of preferred stock and shares or

          fractions of shares of preferred stock are hereinafter referred to

          as "Common Stock equivalents"), (4) debt securities of the Company,

          (5) other assets, or (6) any combination of the foregoing, having a

          value which, when added to the value of the shares of Common Stock

          actually issued upon exercise of such Right, shall have an

          aggregate value equal to the Current Value (less the amount of any

                                     -28-

<PAGE>

          reduction in such Purchase Price), where such aggregate value has

          been determined by the Board of Directors upon the advice of a

          nationally recognized investment banking firm selected in good

          faith by the Board of Directors; provided, however, if the Company

          shall not make adequate provision to deliver value pursuant to

          clause (B) above within thirty (30) days following the date that

          the Acquiring Person became such (the "Section 11(a)(ii) Trigger

          Date"), then the Company shall be obligated to deliver, to the

          extent permitted by applicable law and any material agreements then

          in effect to which the Company is a party, upon the surrender for

          exercise of a Right and without requiring payment of such Purchase

          Price, shares of Common Stock (to the extent available), and then,

          if necessary, such number or fractions of shares of Preferred Stock

          (to the extent available) and then, if necessary, cash, which

          shares and/or cash have an aggregate value equal to the Spread.

          If, upon the date any Person becomes an Acquiring Person, the Board

          of Directors shall determine in good faith that it is likely that

          sufficient additional shares of Common Stock could be authorized

          for issuance upon exercise in full of the Rights, then, if the

          Board of Directors so elects, the thirty (30) day period set forth

          above may be extended to the extent necessary, but not more than

          ninety (90) days after the Section 11(a)(ii) Trigger Date, in order

          that the Company may seek stockholder approval for the

          authorization of such additional shares (such thirty (30) day

                                     -29-

<PAGE>

          period, as it may be extended, is herein called the "Substitution

          Period").  To the extent that the Company determines that some

          action need be taken pursuant to the second and/or third sentence

          of this Section 11(a)(iii), the Company (x) shall provide, subject

          to Section 11(a)(ii) hereof and the last sentence of this Section

          11(a)(iii) hereof, that such action shall apply uniformly to all

          outstanding Rights and (y) may suspend the exercisability of the

          Rights until the expiration of the Substitution Period in order to

          seek any authorization of additional shares and/or to decide the

          appropriate form of distribution to be made pursuant to such second

          sentence and to determine the value thereof.  In the event of any

          such suspension, the Company shall issue a public announcement

          stating that the exercisability of the Rights has been temporarily

          suspended, as well as a public announcement at such time as the

          suspension is no longer in effect.  For purposes of this Section

          11(a)(iii), the value of the shares of Common Stock shall be the

          current per share market price (as determined pursuant to Section

          11(d)(i)) on the Section 11(a)(ii) Trigger Date and the per share

          or fractional value of any "Common Stock equivalent" shall be

          deemed to equal the current per share market price of the Common

          Stock.  The Board of Directors of the Company may, but shall not be

          required to, establish procedures to allocate the right to receive

          shares of Common Stock upon the exercise of the Rights among

          holders of Rights pursuant to this Section 11(a)(iii).

                                     -30-

<PAGE>

          (b)  In case the Company shall fix a record date for the issuance

     of rights, options or warrants to all holders of Preferred Stock

     entitling them (for a period expiring within 45 calendar days after such

     record date) to subscribe for or purchase Preferred Stock (or shares

     having similar rights, privileges and preferences as the Preferred Stock

     ("equivalent preferred shares")) or securities convertible into

     Preferred Stock or equivalent preferred shares at a price per share of

     Preferred Stock or equivalent preferred shares (or having a conversion

     price per share, if a security convertible into shares of Preferred

     Stock or equivalent preferred shares) less than the then current per

     share market price of the Preferred Stock (determined pursuant to

     Section 11(d) hereof) on such record date, the Purchase Price to be in

     effect after such record date shall be determined by multiplying the

     Purchase Price in effect immediately prior to such record date by a

     fraction, the numerator of which shall be the number of shares of

     Preferred Stock and equivalent preferred shares outstanding on such

     record date plus the number of shares of Preferred Stock and equivalent

     preferred shares which the aggregate offering price of the total number

     of shares of Preferred Stock and/or equivalent preferred shares so to be

     offered (and/or the aggregate initial conversion price of the

     convertible securities so to be offered) would purchase at such current

     market price, and the denominator of which shall be the number of shares

     of Preferred Stock and equivalent preferred shares outstanding on such

     record date plus the number of additional shares of Preferred Stock

                                     -31-

<PAGE>

     and/or equivalent preferred shares to be offered for subscription or

     purchase (or into which the convertible securities so to be offered are

     initially convertible); provided, however, that in no event shall the

     consideration to be paid upon the exercise of one Right be less than the

     aggregate par value of the shares of capital stock of the Company

     issuable upon exercise of one Right.  In case such subscription price

     may be paid in a consideration part or all of which shall be in a form

     other than cash, the value of such consideration shall be as determined

     in good faith by the Board of Directors of the Company, whose

     determination shall be described in a statement filed with the Rights

     Agent.  Shares of Preferred Stock and equivalent preferred shares owned

     by or held for the account of the Company shall not be deemed

     outstanding for the purpose of any such computation.  Such adjustment

     shall be made successively whenever such a record date is fixed; and in

     the event that such rights, options or warrants are not so issued, the

     Purchase Price shall be adjusted to be the Purchase Price which would

     then be in effect if such record date had not been fixed.

          (c)  In case the Company shall fix a record date for the making of

     a distribution to all holders of the Preferred Stock (including any such

     distribution made in connection with a consolidation or merger in which

     the Company is the continuing or surviving corporation) of evidences of

     indebtedness or assets (other than a regular quarterly cash dividend or

     a dividend payable in Preferred Stock) or subscription rights or

     warrants (excluding those referred to in Section 11(b) hereof), the

                                     -32-

<PAGE>

     Purchase Price to be in effect after such record date shall be

     determined by multiplying the Purchase Price in effect immediately prior

     to such record date by a fraction, the numerator of which shall be the

     then current per share market price of the Preferred Stock (determined

     pursuant to Section 11(d) hereof) on such record date, less the fair

     market value (as determined in good faith by the Board of Directors of

     the Company whose determination shall be described in a statement filed

     with the Rights Agent) of the portion of the assets or evidences of

     indebtedness so to be distributed or of such subscription rights or

     warrants applicable to one share of Preferred Stock, and the denominator

     of which shall be such current per share market price (determined

     pursuant to Section 11(d) hereof) of the Preferred Stock; provided,

     however, that in no event shall the consideration to be paid upon the

     exercise of one Right be less than the aggregate par value of the shares

     of capital stock of the Company to be issued upon exercise of one Right.

     Such adjustments shall be made successively whenever such a record date

     is fixed; and in the event that such distribution is not so made, the

     Purchase Price shall again be adjusted to be the Purchase Price which

     would then be in effect if such record date had not been fixed.

          (d) (i)  Except as otherwise provided herein, for the purpose of

     any computation hereunder, the "current per share market price" of any

     security (a "Security" for the purpose of this Section 11(d)(i)) on any

     date shall be deemed to be the average of the daily closing prices per

     share of such Security for the 30 consecutive Trading Days (as such term

                                     -33-

<PAGE>

     is hereinafter defined) immediately prior to such date; provided,

     however, that in the event that the current per share market price of

     the Security is determined during a period following the announcement by

     the issuer of such Security of (A) a dividend or distribution on such

     Security payable in shares of such Security or securities convertible

     into such shares, or (B) any subdivision, combination or

     reclassification of such Security, and prior to the expiration of 30

     Trading Days after the ex-dividend date for such dividend or

     distribution, or the record date for such subdivision, combination or

     reclassification, then, and in each such case, the current per share

     market price shall be appropriately adjusted to reflect the current

     market price per share equivalent of such Security.  The closing price

     for each day shall be the last sale price, regular way, or, in case no

     such sale takes place on such day, the average of the closing bid and

     asked prices, regular way, in either case as reported by the principal

     consolidated transaction reporting system with respect to securities

     listed or admitted to trading on the New York Stock Exchange or, if the

     Security is not listed or admitted to trading on the New York Stock

     Exchange, as reported in the principal consolidated transaction reporting

     system with respect to securities listed on the principal national

     securities exchange on which the Security is listed or admitted to

     trading or, if the Security is not listed or admitted to trading on any

     national securities exchange, the last quoted price or, if not so

     quoted, the average of the high bid and low asked prices in the

                                     -34-

<PAGE>

     over-the-counter market, as reported by NASDAQ or such other system then

     in use, or, if on any such date the Security is not quoted by any such

     organization, the average of the closing bid and asked prices as

     furnished by a professional market maker making a market in the Security

     selected by the Board of Directors of the Company.  The term "Trading

     Day" shall mean a day on which the principal national securities

     exchange on which the Security is listed or admitted to trading is open

     for the transaction of business or, if the Security is not listed or

     admitted to trading on any national securities exchange, a Business Day.

          (ii)  For the purpose of any computation hereunder, if the

     Preferred Stock is publicly traded, the "current per share market price"

     of the Preferred Stock shall be determined in accordance with the method

     set forth in Section 11(d)(i).  If the Preferred Stock is not publicly

     traded but the Common Stock is publicly traded, the "current per share

     market price" of the Preferred Stock shall be conclusively deemed to be

     the current per share market price of the Common Stock as determined

     pursuant to Section 11(d)(i) multiplied by one thousand (appropriately

     adjusted to reflect any stock split, stock dividend or similar

     transaction occurring after the date hereof).  If neither the Common

     Stock nor the Preferred Stock is publicly traded, "current per share

     market price" shall mean the fair value per share as determined in good

     faith by the Board of Directors of the Company, whose determination

     shall be described in a statement filed with the Rights Agent.

                                     -35-

<PAGE>

          (e)  No adjustment in the Purchase Price shall be required unless

     such adjustment would require an increase or  decrease of at least 1% in

     the Purchase Price; provided, however, that any adjustments which by

     reason of this Section 11(e) are not required to be made shall be

     carried forward and taken into account in any subsequent adjustment.

     All calculations under this Section 11 shall be made to the nearest cent

     or to the nearest one ten-thousandth of a share of Preferred Stock or

     share of Common Stock or other share or security as the case may be.

     Notwithstanding the first sentence of this Section 11(e), any adjustment

     required by this Section 11 shall be made no later than the earlier of

     (i) three years from the date of the transaction which requires such

     adjustment or (ii) the Expiration Date.

          (f)  If as a result of an adjustment made pursuant to Section 11(a)

     hereof, the holder of any Right thereafter exercised shall become

     entitled to receive any shares of capital stock of the Company other

     than the Preferred Stock, thereafter the Purchase Price and the number

     of such other shares so receivable upon exercise of a Right shall be

     subject to adjustment from time to time in a manner and on terms as

     nearly equivalent as practicable to the provisions with respect to the

     Preferred Stock contained in Sections 11(a), 11(b), 11(c), 11(e), 11(h),

     11(i) and 11(m) and the provisions of Sections 7, 9, 10, 13 and 14

     hereof with respect to the Preferred Stock shall apply on like terms to

     any such other shares.

                                     -36-

<PAGE>

          (g)  All Rights originally issued by the Company subsequent to any

     adjustment made to the Purchase Price hereunder shall evidence the right

     to purchase, at the adjusted Purchase Price, the number of one

     one-thousandths of a share of Preferred Stock purchasable from time to

     time hereunder upon exercise of the Rights, all subject to further

     adjustment as provided herein.

          (h)  Unless the Company shall have exercised its election as

     provided in Section 11(i), upon each adjustment of the Purchase Price as

     a result of the calculations made in Sections 11(b) and (c), each Right

     outstanding immediately prior to the making of such adjustment shall

     thereafter evidence the right to purchase, at the adjusted Purchase

     Price, that number of one one-thousandths of a share of Preferred Stock

     (calculated to the nearest one ten- thousandth of a share of Preferred

     Stock) obtained by (i) multiplying (x) the number of one one-thousandths

     of a share purchasable upon the exercise of a Right immediately prior to

     such adjustment by (y) the Purchase Price in effect immediately prior to

     such adjustment of the Purchase Price and (ii) dividing the product so

     obtained by the Purchase Price in effect immediately after such

     adjustment of the Purchase Price.

          (i)  The Company may elect on or after the date of any adjustment

     of the Purchase Price pursuant to Sections 11(b) or 11(c) hereof to

     adjust the number of Rights, in substitution for any adjustment in the

     number of one one-thousandths of a share of Preferred Stock purchasable

     upon the exercise of a Right.  Each of the Rights outstanding after such

                                     -37-

<PAGE>

     adjustment of the number of Rights shall be exercisable for the number

     of one one-thousandths of a share of Preferred Stock for which a Right

     was exercisable immediately prior to such adjustment.  Each Right held

     of record prior to such adjustment of the number of Rights shall become

     that number of Rights (calculated to the nearest one ten-thousandth)

     obtained by dividing the Purchase Price in effect immediately prior to

     adjustment of the Purchase Price by the Purchase Price in effect

     immediately after adjustment of the Purchase Price.  The Company shall

     make a public announcement of its election to adjust the number of

     Rights, indicating the record date for the adjustment, and, if known at

     the time, the amount of the adjustment to be made.  This record date may

     be the date on which the Purchase Price is adjusted or any day

     thereafter, but, if the Right Certificates have been issued, shall be at

     least 10 days later than the date of the public announcement.  If Right

     Certificates have been issued, upon each adjustment of the number of

     Rights pursuant to this Section 11(i), the Company may, as promptly as

     practicable, cause to be distributed to holders of record of Right

     Certificates on such record date Right Certificates evidencing, subject

     to Section 14 hereof, the additional Rights to which such holders shall

     be entitled as a result of such adjustment, or, at the option of the

     Company, shall cause to be distributed to such holders of record in

     substitution and replacement for the Right Certificates held by such

     holders prior to the date of adjustment, and upon surrender thereof, if

     required by the Company, new Right Certificates evidencing all the

                                     -38-

<PAGE>

     Rights to which such holders shall be entitled after such adjustment.

     Right Certificates so to be distributed shall be issued, executed and

     countersigned in the manner provided for herein and shall be registered

     in the names of the holders of record of Right Certificates on the

     record date specified in the public announcement.

          (j)  Irrespective of any adjustment or change in the Purchase Price

     or the number of one one-thousandths of a share of Preferred Stock

     issuable upon the exercise of the Rights, the Right Certificates

     theretofore and thereafter issued may continue to express the Purchase

     Price and the number of one one-thousandths of a share of Preferred

     Stock which were expressed in the initial Right Certificates issued

     hereunder.

          (k)  Before taking any action that would cause an adjustment

     reducing the Purchase Price below the then par value, if any, of the

     Preferred Stock or other shares of capital stock issuable upon exercise

     of the Rights, the Company shall take any corporate action which may, in

     the opinion of its counsel, be necessary in order that the Company may

     validly and legally issue fully paid and nonassessable shares of

     Preferred Stock or other such shares at such adjusted Purchase Price.

          (l)  In any case in which this Section 11 shall require that an

     adjustment in the Purchase Price be made effective as of a record date

     for a specified event, the Company may elect to defer until the

     occurrence of such event the issuing to the holder of any Right

     exercised after such record date of the Preferred Stock and other

                                     -39-

<PAGE>

     capital stock or securities of the Company, if any, issuable upon such

     exercise over and above the Preferred Stock and other capital stock or

     securities of the Company, if any, issuable upon such exercise on the

     basis of the Purchase Price in effect prior to such adjustment;

     provided, however, that the Company shall deliver to such holder a due

     bill or other appropriate instrument evidencing such holder's right to

     receive such additional shares upon the occurrence of the event

     requiring such adjustment.

          (m)  Anything in this Section 11 to the contrary notwithstanding,

     the Company shall be entitled to make such adjustments in the Purchase

     Price, in addition to those adjustments expressly required by this

     Section 11, as and to the extent that it in its sole discretion shall

     determine to be advisable in order that any consolidation or subdivision

     of the Preferred Stock, issuance (wholly for cash) of any shares of

     Preferred Stock at less than the current market price, issuance (wholly

     for cash) of Preferred Stock or securities which by their terms are

     convertible into or exchangeable for Preferred Stock, dividends on

     Preferred Stock payable in shares of Preferred Stock or issuance of

     rights, options or warrants referred to hereinabove in Section 11(b),

     hereafter made by the Company to holders of its Preferred Stock shall

     not be taxable to such stockholders.

          (n)  Anything in this Rights Agreement to the contrary

     notwithstanding, in the event that at any time after the date of this

     Rights Agreement and prior to the Distribution Date, the Company shall

                                     -40-

<PAGE>

     (i) declare or pay any dividend on the Common Stock payable in Common

     Stock or (ii) effect a subdivision, combination or consolidation of the

     Common Stock (by reclassification or otherwise than by payment of a

     dividend payable in Common Stock) into a greater or lesser number of

     shares of Common Stock, then in any such case, the number of Rights

     associated with each share of Common Stock then outstanding, or issued

     or delivered thereafter, shall be proportionately adjusted so that the

     number of Rights thereafter associated with each share of Common Stock

     following any such event shall equal the result obtained by multiplying

     the number of Rights associated with each share of Common Stock

     immediately prior to such event by a fraction the numerator of which

     shall be the total number of shares of Common Stock outstanding

     immediately prior to the occurrence of the event and the denominator of

     which shall be the total number of shares of Common Stock outstanding

     immediately following the occurrence of such event.

          (o)  The Company agrees that, after the earlier of the Distribution

     Date or the Stock Acquisition Date, it will not, except as permitted by

     Sections 23, 24 or 27 hereof, take (or permit any Subsidiary to take)

     any action if at the time such action is taken it is reasonably

     foreseeable that such action will diminish substantially or eliminate

     the benefits intended to be afforded by the Rights.

          Section 12.  Certificate of Adjusted Purchase Price or Number of

Shares.  Whenever an adjustment is made as provided in Section 11 or 13

hereof, the Company shall promptly (a) prepare a certificate setting forth

                                     -41-

<PAGE>

such adjustment, and a brief statement of the facts accounting for such

adjustment, (b) file with the Rights Agent and with each transfer agent for

the Common Stock or the Preferred Stock a copy of such certificate and (c)

mail a brief summary thereof to each holder of a Right Certificate in

accordance with Section 25 hereof (if so required under Section 25 hereof).

The Rights Agent shall be fully protected in relying on any such certificate

and on any adjustment therein contained and shall not be deemed to have

knowledge of any such adjustment unless and until it shall have received such

certificate.

          Section 13.  Consolidation, Merger or Sale or Transfer of Assets or

Earnings Power.  (a)  In the event, directly or indirectly, at any time after

any Person has become an Acquiring Person, (i) the Company shall merge with

and into any other Person, (ii) any Person shall consolidate with the

Company, or any Person shall merge with and into the Company and the Company

shall be the continuing or surviving corporation of such merger and, in

connection with such merger, all or part of the Common Stock shall be changed

into or exchanged for stock or other securities of any other Person (or of

the Company) or cash or any other property, or (iii) the Company shall sell

or otherwise transfer (or one or more of its Subsidiaries shall sell or

otherwise transfer), in one or more transactions, assets or earning power

aggregating 50% or more of the assets or earning power of the Company and its

Subsidiaries (taken as a whole) to any other Person (other than the Company

or one or more of its wholly-owned Subsidiaries), then upon the first

occurrence of such event, proper provision shall be made so that: (A) each

                                     -42-

<PAGE>

holder of record of a Right (other than Rights which have become void

pursuant to Section 11(a)(ii)) shall thereafter have the right to receive,

upon the exercise thereof at a price equal to the then current Purchase Price

multiplied by the number of one one-thousandths of a share of Preferred Stock

for which a Right was exercisable (whether or not such Right was then

exercisable) immediately prior to the time that any Person first became an

Acquiring Person (each as subsequently adjusted thereafter pursuant to

Sections 11(a)(i), 11(b), 11(c), 11(h), 11(i) and 11(m)), in accordance with

the terms of this Rights Agreement and in lieu of Preferred Stock, such

number of validly issued, fully paid and non-assessable and freely tradeable

shares of Common Stock of the Principal Party (as defined herein) not subject

to any liens, encumbrances, rights of first refusal or other adverse claims,

as shall be equal to the result obtained by (1) multiplying the then current

Purchase Price by the number of one one-thousandths of a share of Preferred

Stock for which a Right was exercisable immediately prior to the time that

any Person first became an Acquiring Person (as subsequently adjusted

thereafter pursuant to Sections 11(a)(i), 11(b), 11(c), 11(h), 11(i) and

11(m)) and (2) dividing that product by 50% of the then current per share

market price of the Common Stock of such Principal Party (determined pursuant

to Section 11(d)(i) hereof) on the date of consummation of such

consolidation, merger, sale or transfer; provided that the Purchase Price and

the number of shares of Common Stock of such Principal Party issuable upon

exercise of each Right shall be further adjusted as provided in Section 11(f)

of this Rights Agreement to reflect any events occurring in respect of such

                                     -43-

<PAGE>

Principal Party after the date of the such consolidation, merger, sale or

transfer; (B) such Principal Party shall thereafter be liable for, and shall

assume, by virtue of such consolidation, merger, sale or transfer, all the

obligations and duties of the Company pursuant to this Rights Agreement; (C)

the term "Company" shall thereafter be deemed to refer to such Principal

Party; and (D) such Principal Party shall take such steps (including, but not

limited to, the reservation of a sufficient number of its shares of Common

Stock in accordance with Section 9 hereof) in connection with such

consummation of any such transaction as may be necessary to assure that the

provisions hereof shall thereafter be applicable, as nearly as reasonably may

be, in relation to the shares of its Common Stock thereafter deliverable upon

the exercise of the Rights; provided that, upon the subsequent occurrence of

any consolidation, merger, sale or transfer of assets or other extraordinary

transaction in respect of such Principal Party, each holder of a Right shall

thereupon be entitled to receive, upon exercise of a Right and payment of the

Purchase Price as provided in this Section 13(a), such cash, shares, rights,

warrants and other property which such holder would have been entitled to

receive had such holder, at the time of such transaction, owned the Common

Stock of the Principal Party receivable upon the exercise of a Right pursuant

to this Section 13(a), and such Principal Party shall take such steps

(including, but not limited to, reservation of shares of stock) as may be

necessary to permit the subsequent exercise of the Rights in accordance with

the terms hereof for such cash, shares, rights, warrants and other property.

          (b)  "Principal Party" shall mean

                                     -44-

<PAGE>

               (i)  in the case of any transaction described in (i) or (ii)

     of the first sentence of Section 13(a) hereof:  (A) the Person that is

     the issuer of the securities into which the shares of Common Stock are

     converted in such merger or consolidation, or, if there is more than one

     such issuer, the issuer the shares of Common Stock of which have the

     greatest aggregate market value of shares outstanding, or (B) if no

     securities are so issued, (x) the Person that is the other party to the

     merger, if such Person survives said merger, or, if there is more than

     one such Person, the Person the shares of Common Stock of which have the

     greatest aggregate market value of shares outstanding or (y) if the

     Person that is the other party to the merger does not survive the

     merger, the Person that does survive the merger (including the Company

     if it survives) or (z) the Person resulting from the consolidation; and

               (ii) in the case of any transaction described in (iii) of the

     first sentence in Section 13(a) hereof, the Person that is the party

     receiving the greatest portion of the assets or earning power

     transferred pursuant to such transaction or transactions, or, if each

     Person that is a party to such transaction or transactions receives the

     same portion of the assets or earning power so transferred or if the

     Person receiving the greatest portion of the assets or earning power

     cannot be determined, whichever of such Persons is the issuer of Common

     Stock having the greatest aggregate market value of shares outstanding;

provided, however, that in any such case described in the foregoing clause

(b)(i) or (b)(ii), if the Common Stock of such Person is not at such time or

                                     -45-

<PAGE>

has not been continuously over the preceding 12-month period registered under

Section 12 of the Exchange Act, then (1) if such Person is a direct or

indirect Subsidiary of another Person the Common Stock of which is and has

been so registered, the term "Principal Party" shall refer to such other

Person, or (2) if such Person is a Subsidiary, directly or indirectly, of

more than one Person, and the Common Stocks of all of such persons have been

so registered, the term "Principal Party" shall refer to whichever of such

Persons is the issuer of Common Stock having the greatest aggregate market

value of shares outstanding, or (3) if such Person is owned, directly or

indirectly, by a joint venture formed by two or more Persons that are not

owned, directly or indirectly, by the same Person, the rules set forth in

clauses (1) and (2) above shall apply to each of the owners having an

interest in the venture as if the Person owned by the joint venture was a

Subsidiary of both or all of such joint venturers, and the Principal Party in

each such case shall bear the obligations set forth in this Section 13 in the

same ratio as its interest in such Person bears to the total of such

interests.

          (c)  The Company shall not consummate any consolidation, merger,

sale or transfer referred to in Section 13(a) hereof unless prior thereto the

Company and the Principal Party involved therein shall have executed and

delivered to the Rights Agent an agreement confirming that the requirements

of Sections 13(a) and (b) hereof shall promptly be performed in accordance

with their terms and that such consolidation, merger, sale or transfer of

assets shall not result in a default by the Principal Party under this Rights

                                     -46-

<PAGE>

Agreement as the same shall have been assumed by the Principal Party pursuant

to Sections 13(a) and (b) hereof and providing that, as soon as practicable

after executing such agreement pursuant to this Section 13, the Principal

Party will:

               (i)  prepare and file a registration statement under the

     Securities Act, if necessary, with respect to the Rights and the

     securities purchasable upon exercise of the Rights on an appropriate

     form, use its best efforts to cause such registration statement to

     become effective as soon as practicable after such filing and use its

     best efforts to cause such registration statement to remain effective

     (with a prospectus at all times meeting the requirements of the

     Securities Act) until the Expiration Date, and similarly comply with

     applicable state securities laws;

               (ii) use its best efforts, if the Common Stock of the

     Principal Party shall be listed or admitted to trading on the New York

     Stock Exchange or on another national securities exchange, to list or

     admit to trading (or continue the listing of) the Rights and the

     securities purchasable upon exercise of the Rights on the New York Stock

     Exchange or such securities exchange, or, if the Common Stock of the

     Principal Party shall not be listed or admitted to trading on the New

     York Stock Exchange or a national securities exchange, to cause the

     Rights and the securities receivable upon exercise of the Rights to be

     reported by such other system then in use;

                                     -47-

<PAGE>

               (iii)  deliver to holders of the Rights historical financial

     statements for the Principal Party which comply in all respects with the

     requirements for registration on Form 10 (or any successor form) under

     the Exchange Act; and

               (iv)  obtain waivers of any rights of first refusal or

     preemptive rights in respect of the Common Stock of the Principal Party

     subject to purchase upon exercise of outstanding Rights.

          (d)  In case the Principal Party has a provision in any of its

authorized securities or in its certificate of incorporation or by-laws or

other instrument governing its affairs, which provision would have the effect

of (i) causing such Principal Party to issue (other than to holders of Rights

pursuant to this Section 13), in connection with, or as a consequence of, the

consummation of a transaction referred to in this Section 13, shares of

Common Stock or Common Stock equivalents of such Principal Party at less than

the then current market price per share thereof (determined pursuant to

Section 11(d) hereof) or securities exercisable for, or convertible into,

Common Stock or Common Stock equivalents of such Principal Party at less than

such then current market price, or (ii) providing for any special payment,

tax or similar provision in connection with the issuance of the Common Stock

of such Principal Party pursuant to the provisions of Section 13, then, in

such event, the Company hereby agrees with each holder of Rights that it

shall not consummate any such transaction unless prior thereto the Company

and such Principal Party shall have executed and delivered to the Rights

Agent a supplemental agreement providing that the provision in question of

                                     -48-

<PAGE>

such Principal Party shall have been canceled, waived or amended, or that the

authorized securities shall be redeemed, so that the applicable provision

will have no effect in connection with, or as a consequence of, the

consummation of the proposed transaction.

          (e)  The Company covenants and agrees that it shall not, at any

time after a Person first becomes an Acquiring Person enter into any

transaction of the type contemplated by (i) - (iii) of Section 13(a) hereof

if (x) at the time of or immediately after such consolidation, merger, sale,

transfer or other transaction there are any rights, warrants or other

instruments or securities outstanding or agreements in effect which would

substantially diminish or otherwise eliminate the benefits intended to be

afforded by the Rights, (y) prior to, simultaneously with or immediately

after such consolidation, merger, sale, transfer or other transaction, the

stockholders of the Person who constitutes, or would constitute, the

Principal Party for purposes of Section 13(b) hereof shall have received a

distribution of Rights previously owned by such Person or any of its

Affiliates or Associates or (z) the form or nature of organization of the

Principal Party would preclude or limit the exercisability of the Rights.

          Section 14.  Fractional Rights and Fractional Shares.  (a)  The

Company shall not be required to issue fractions of Rights (except prior to

the Distribution Date in accordance with Section 11(n) hereof) or to

distribute Right Certificates which evidence fractional Rights.  In lieu of

such fractional Rights, there shall be paid to the registered holders of the

Right Certificates with regard to which such fractional Rights would

                                     -49-

<PAGE>

otherwise be issuable, an amount in cash equal to the same fraction of the

current market value of a whole Right.  For the purposes of this Section

14(a), the current market value of a whole Right shall be the closing price

of the Rights for the Trading Day immediately prior to the date on which such

fractional Rights would have been otherwise issuable.  The closing price for

any day shall be the last sale price, regular way, or, in case no such sale

takes place on such day, the average of the closing bid and asked prices,

regular way, in either case as reported in the principal consolidated

transaction reporting system with respect to securities listed or admitted to

trading on the New York Stock Exchange or, if the Rights are not listed or

admitted to trading on the New York Stock Exchange, as reported in the

principal consolidated transaction reporting system with respect to

securities listed on the principal national securities exchange on which the

Rights are listed or admitted to trading or, if the Rights are not listed or

admitted to trading on any national securities exchange, the last quoted

price or, if not so quoted, the average of the high bid and low asked prices

in the over-the-counter market, as reported by NASDAQ or such other system

then in use or, if on any such date the Rights are not quoted by any such

organization, the average of the closing bid and asked prices as furnished by

a professional market maker making a market in the Rights selected by the

Board of Directors of the Company.  If on any such date no such market maker

is making a market in the Rights, the fair value of the Rights on such date

as determined in good faith by the Board of Directors of the Company shall be

used.

                                     -50-

<PAGE>

          (b)  The Company shall not be required to issue fractions of

Preferred Stock (other than fractions which are integral multiples of one

one-thousandth of a share of Preferred Stock) upon exercise of the Rights or

to distribute certificates which evidence fractional shares of Preferred

Stock (other than fractions which are integral multiples of one

one-thousandth of a share of Preferred Stock).  Interests in fractions of

Preferred Stock in integral multiples of one one-thousandth of a share of

Preferred Stock may, at the election of the Company, be evidenced by

depositary receipts, pursuant to an appropriate agreement between the Company

and a depositary selected by it; provided, that such agreement shall provide

that the holders of such depositary receipts shall have all the rights,

privileges and preferences to which they are entitled as beneficial owners of

the Preferred Stock represented by such depositary receipts.  In lieu of

fractional shares of Preferred Stock that are not integral multiples of one

one-thousandth of a share of Preferred Stock, the Company shall pay to the

registered holders of Right Certificates at the time such Rights are

exercised as herein provided an amount in cash equal to the same fraction of

the current market value of one share of Preferred Stock.  For the purposes

of this Section 14(b), the current market value of a share of Preferred Stock

shall be the closing price of a share of Preferred Stock (as determined

pursuant to Section 11(d)(i) hereof) for the Trading Day immediately prior to

the date of such exercise.

          (c)  The Company shall not be required to issue fractions of shares

of Common Stock or to distribute certificates which evidence fractional

                                     -51-

<PAGE>

shares of Common Stock upon the exercise or exchange of Rights.  In lieu of

such fractional shares of Common Stock, the Company shall pay to the

registered holders of the Right Certificates with regard to which such

fractional shares of Common Stock would otherwise be issuable an amount in

cash equal to the same fraction of the current market value of a whole share

of Common Stock (as determined in accordance with Section 14(a) hereof) for

the Trading Day immediately prior to the date of such exercise or exchange.

          (d)  The holder of a Right by the acceptance of the Right expressly

waives his right to receive any fractional Rights or any fractional shares

upon exercise or exchange of a Right (except as provided above).

          Section 15.  Rights of Action.  All rights of action in respect of

this Rights Agreement, excepting the rights of action given to the Rights

Agent under Section 18 hereof, are vested in the respective registered

holders of the Right Certificates (and, prior to the Distribution Date, the

registered holders of the Common Stock); and any registered holder of any

Right Certificate (or, prior to the Distribution Date, of the Common Stock),

without the consent of the Rights Agent or of the holder of any other Right

Certificate (or, prior to the Distribution Date, of the Common Stock), on his

own behalf and for his own benefit, may enforce, and may institute and

maintain any suit, action or proceeding against the Company to enforce, or

otherwise act in respect of, his right to exercise the Rights evidenced by

such Right Certificate (or, prior to the Distribution Date, such Common

Stock) in the manner provided in such Right Certificate and in this Rights

Agreement.  Without limiting the foregoing or any remedies available to the

                                     -52-

<PAGE>

holders of Rights, it is specifically acknowledged that the holders of Rights

would not have an adequate remedy at law for any breach of this Rights

Agreement and will be entitled to specific performance of the obligations

under, and injunctive relief against actual or threatened violations of, the

obligations of any Person subject to this Rights Agreement.

          Section 16.  Agreement of Right Holders.  Every holder of a Right,

by accepting the same, consents and agrees with the Company and the Rights

Agent and with every other holder of a Right that:

          (a)  prior to the Distribution Date, the Rights will be

     transferable only in connection with the transfer of the Common Stock;

          (b)  after the Distribution Date, the Right Certificates are

     transferable only on the registry books of the Rights Agent if

     surrendered at the office or agency of the Rights Agent designated for

     such purpose, duly endorsed or accompanied by a proper instrument of

     transfer; and

          (c)  the Company and the Rights Agent may deem and treat the Person

     in whose name the Right Certificate (or, prior to the Distribution Date,

     the Common Stock certificate) is registered as the absolute owner

     thereof and of the Rights evidenced thereby (notwithstanding any

     notations of ownership or writing on the Right Certificates or the Common

     Stock certificate made by anyone other than the Company or the Rights

     Agent) for all purposes whatsoever, and neither the Company nor the

     Rights Agent, subject to Section 7(e) hereof, shall be affected by any

     notice to the contrary.

                                     -53-

<PAGE>

          Section 17.  Right Certificate Holder Not Deemed a Stockholder.  No

holder, as such, of any Right Certificate shall be entitled to vote, receive

dividends or be deemed for any purpose the holder of the Preferred Stock or

any other securities of the Company which may at any time be issuable on the

exercise or exchange of the Rights represented thereby, nor shall anything

contained herein or in any Right Certificate be construed to confer upon the

holder of any Right Certificate, as such, any of the rights of a stockholder

of the Company or any right to vote for the election of directors or upon any

matter submitted to stockholders at any meeting thereof, or to give or

withhold consent to any corporate action, or to receive notice of meetings or

other actions affecting stockholders (except as provided in this Rights

Agreement), or to receive dividends or subscription rights, or otherwise,

until the Rights evidenced by such Right Certificate shall have been

exercised or exchanged in accordance with the provisions hereof.

          Section 18.  Concerning the Rights Agent.  (a)  The Company agrees

to pay to the Rights Agent reasonable compensation for all services rendered

by it hereunder and, from time to time, on demand of the Rights Agent, its

reasonable expenses and counsel fees and other disbursements incurred in the

administration and execution of this Rights Agreement and the exercise and

performance of its duties hereunder.  The Company also agrees to indemnify

the Rights Agent for, and to hold it harmless against, any loss, liability or

expense, incurred without gross negligence, bad faith or willful misconduct

on the part of the Rights Agent, for anything done or omitted by the Rights

Agent in connection with the acceptance and administration of this Rights

                                     -54-

<PAGE>

Agreement, including the costs and expenses of defending against any claim of

liability arising therefrom, directly or indirectly.

          (b)  The Rights Agent shall be protected and shall incur no

liability for, or in respect of any action taken, suffered or omitted by it

in connection with, its administration of this Rights Agreement in reliance

upon any Right Certificate or certificate for the Preferred Stock or Common

Stock or for other securities of the Company, instrument of assignment or

transfer, power of attorney, endorsement, affidavit, letter, notice,

direction, consent, certificate, statement, or other paper or document

believed by it to be genuine and to be signed, executed and, where necessary,

verified or acknowledged, by the proper Person or Persons, or otherwise upon

the advice of counsel as set forth in Section 20 hereof.

          Section 19.  Merger or Consolidation or Change of Name of Rights

Agent.  (a)  Any corporation into which the Rights Agent or any successor

Rights Agent may be merged or with which it may be consolidated, or any

corporation resulting from any merger or consolidation to which the Rights

Agent or any successor Rights Agent shall be a party, or any corporation

succeeding to the stock transfer or corporate trust powers of the Rights

Agent or any successor Rights Agent, shall be the successor to the Rights

Agent under this Rights Agreement without the execution or filing of any

paper or any further act on the part of any of the parties hereto; provided,

that such corporation would be eligible for appointment as a successor Rights

Agent under the provisions of Section 21 hereof.  In case at the time such

successor Rights Agent shall succeed to the agency created by this Rights

                                     -55-

<PAGE>

Agreement, any of the Right Certificates shall have been countersigned but

not delivered, any such successor Rights Agent may adopt the countersignature

of the predecessor Rights Agent and deliver such Right Certificates so

countersigned; and in case at that time any of the Right Certificates shall

not have been countersigned, any successor Rights Agent may countersign such

Right Certificates either in the name of the predecessor Rights Agent or in

the name of the successor Rights Agent; and in all such cases such Right

Certificates shall have the full force provided in the Right Certificates and

in this Rights Agreement.

          (b)  In case at any time the name of the Rights Agent shall be

changed and at such time any of the Right Certificates shall have been

countersigned but not delivered the Rights Agent may adopt the

countersignature under its prior name and deliver Right Certificates so

countersigned; and in case at that time any of the Right Certificates shall

not have been countersigned, the Rights Agent may countersign such Right

Certificates either in its prior name or in its changed name and in all such

cases such Right Certificates shall have the full force provided in the Right

Certificates and in this Rights Agreement.

          Section 20.  Duties of Rights Agent.  The Rights Agent undertakes

the duties and obligations imposed by this Rights Agreement upon the

following terms and conditions, by all of which the Company and the holders

of Right Certificates, by their acceptance thereof, shall be bound:

          (a)  The Rights Agent may consult with legal counsel (who may be

     legal counsel for the Company), and the opinion of such counsel shall be

                                     -56-

<PAGE>

     full and complete authorization and protection to the Rights Agent as to

     any action taken or omitted by it in good faith and in accordance with

     such opinion.

          (b)  Whenever in the performance of its duties under this Rights

     Agreement the Rights Agent shall deem it necessary or desirable that any

     fact or matter be proved or established by the Company prior to taking

     or suffering any action hereunder, such fact or matter (unless other

     evidence in respect thereof be herein specifically prescribed) may be

     deemed to be conclusively proved and established by a certificate signed

     by any one of the Chairman of the Board of Directors, the President, any

     Vice President, the Treasurer, the Controller or the Secretary of the

     Company and delivered to the Rights Agent; and such certificate shall be

     full authorization to the Rights Agent for any action taken or suffered

     in good faith by it under the provisions of this Rights Agreement in

     reliance upon such certificate.

          (c)  The Rights Agent shall be liable hereunder to the Company and

     any other Person only for its own gross negligence, bad faith or wilful

     misconduct.

          (d)  The Rights Agent shall not be liable for or by reason of any

     of the statements of fact or recitals contained in this Rights Agreement

     or in the Right Certificates (except its countersignature thereof) or be

     required to verify the same, but all such statements and recitals are

     and shall be deemed to have been made by the Company only.

                                     -57-

<PAGE>

          (e)  The Rights Agent shall not be under any responsibility in

     respect of the validity of this Rights Agreement or the execution and

     delivery hereof (except the due execution hereof by the Rights Agent) or

     in respect of the validity or execution of any Right Certificate (except

     its countersignature thereof); nor shall it be responsible for any

     breach by the Company of any covenant or condition contained in this

     Rights Agreement or in any Right Certificate; nor shall it be

     responsible for any change in the exercisability of the Rights (including

     the Rights becoming void pursuant to Section 11(a)(ii) hereof) or any

     adjustment in the terms of the Rights (including the manner, method or

     amount thereof) provided for in Sections 3, 11, 13, 23 and 24, or the

     ascertaining of the existence of facts that would require any such

     change or adjustment (except with respect to the exercise of Rights

     evidenced by Right Certificates after receipt of a certificate furnished

     pursuant to Section 12, describing such change or adjustment); nor shall

     it by any act hereunder be deemed to make any representation or warranty

     as to the authorization or reservation of any shares of Preferred Stock

     or other securities to be issued pursuant to this Rights Agreement or

     any Right Certificate or as to whether any shares of Preferred Stock or

     other securities will, when issued, be validly authorized and issued,

     fully paid and nonassessable.

          (f)  The Company agrees that it will perform, execute, acknowledge

     and deliver or cause to be performed, executed, acknowledged and

     delivered all such further and other acts, instruments and assurances as

                                     -58-

<PAGE>

     may reasonably be required by the Rights Agent for the carrying out or

     performing by the Rights Agent of the provisions of this Rights

     Agreement.

          (g)  The Rights Agent is hereby authorized and directed to accept

     instructions with respect to the performance of its duties hereunder

     from any person reasonably believed by the Rights Agent to be one of the

     Chairman of the Board of Directors, the President, the Chief Financial

     Officer or the Secretary of the Company, and to apply to such officers

     for advice or instructions in connection with its duties, and it shall

     not be liable for any action taken or suffered by it in good faith in

     accordance with instructions of any such officer or for any delay in

     acting while waiting for those instructions.  Any application by the

     Rights Agent for written instructions from the Company may, at the

     option of the Rights Agent, set forth in writing any action proposed to

     be taken or omitted by the Rights Agent under this Rights Agreement and

     the date on and/or after which such action shall be taken or such

     omission shall be effective.  The Rights Agent shall not be liable for

     any action taken by, or omission of, the Rights Agent in accordance with

     a proposal included in any such application on or after the date

     specified in such application (which date shall not be less than five

     Business Days after the date any officer of the Company actually

     receives such application, unless any such officer shall have consented

     in writing to an earlier date) unless, prior to taking any such action

     (or the effective date in the case of an omission), the Rights Agent

                                     -59-

<PAGE>

     shall have received written instructions in response to such application

     specifying the action to be taken or omitted.

          (h)  The Rights Agent and any stockholder, director, officer or

     employee of the Rights Agent may buy, sell or deal in any of the Rights

     or other securities of the Company or become pecuniarily interested in

     any transaction in which the Company may be interested, or contract with

     or lend money to the Company or otherwise act as fully and freely as

     though it were not  Rights Agent under this Rights Agreement.  Nothing

     herein shall preclude the Rights Agent from acting in any other capacity

     for the Company or for any other legal entity.

          (i)  The Rights Agent may execute and exercise any of the rights or

     powers hereby vested in it or perform any duty hereunder either itself

     or by or through its attorneys or agents, and the Rights Agent shall not

     be answerable or accountable for any act, default, neglect or misconduct

     of any such attorneys or agents or for any loss to the Company resulting

     from any such act, default, neglect or misconduct, provided reasonable

     care was exercised in the selection and continued employment thereof.

          (j)  If, with respect to any Rights Certificate surrendered to the

     Rights Agent for exercise or transfer, the certificate contained in the

     form of assignment or the form of election to purchase set forth on the

     reverse thereof, as the case may be, has not been completed to certify

     the holder is not an Acquiring Person (or an Affiliate or Associate

     thereof) or a transferee thereof, the Rights Agent shall not take any

                                     -60-

<PAGE>

     further action with respect to such requested exercise or transfer

     without first consulting with the Company.

          Section 21.  Change of Rights Agent.  The Rights Agent or any

successor Rights Agent may resign and be discharged from its duties under

this Rights Agreement upon 30 days' notice in writing mailed to the Company

and to each transfer agent of the Common Stock or Preferred Stock by

registered or certified mail, and, following the Distribution Date, to the

holders of the Right Certificates by first-class mail.  The Company may

remove the Rights Agent or any successor Rights Agent upon 30 days' notice in

writing, mailed to the Rights Agent or successor Rights Agent, as the case

may be, and to each transfer agent of the Common Stock or Preferred Stock by

registered or certified mail, and, following the Distribution Date, to the

holders of the Right Certificates by first-class mail.  If the Rights Agent

shall resign or be removed or shall otherwise become incapable of acting, the

Company shall appoint a successor to the Rights Agent.  If the Company shall

fail to make such appointment within a period of 30 days after giving notice

of such removal or after it has been notified in writing of such resignation

or incapacity by the resigning or incapacitated Rights Agent or by the holder

of a Right Certificate (who shall, with such notice, submit his Right

Certificate for inspection by the Company), then the registered holder of any

Right Certificate may apply to any court of competent jurisdiction for the

appointment of a new Rights Agent.  Any successor Rights Agent, whether

appointed by the Company or by such a court, shall be (A) a corporation

organized and doing business under the laws of the United States or any State

                                     -61-

<PAGE>

thereof, which is authorized under such laws to exercise corporate trust or

stock transfer powers and is subject to supervision or examination by federal

or state authority and which has at the time of its appointment as Rights

Agent a combined capital and surplus of at least $50 million or (B) an

affiliate of a corporation described in clause (A) of this sentence.  After

appointment, the successor Rights Agent shall be vested with the same powers,

rights, duties and responsibilities as if it had been originally named as

Rights Agent without further act or deed; but the predecessor Rights Agent

shall deliver and transfer to the successor Rights Agent any property at the

time held by it hereunder, and execute and deliver any further assurance,

conveyance, act or deed necessary for the purpose.  Not later than the

effective date of any such appointment the Company shall file notice thereof

in writing with the predecessor Rights Agent and each transfer agent of the

Common Stock or Preferred Stock, and, following the Distribution Date, mail a

notice thereof in writing to the registered holders of the Right

Certificates.  Failure to give any notice provided for in this Section 21,

however, or any defect therein, shall not affect the legality or validity of

the resignation or removal of the Rights Agent or the appointment of the

successor Rights Agent, as the case may be.

          Section 22.  Issuance of New Right Certificates.  Notwithstanding

any of the provisions of this Rights Agreement or of the Rights to the

contrary, the Company may, at its option, issue new Right Certificates

evidencing Rights in such forms as may be approved by its Board of Directors

to reflect any adjustment or change in the Purchase Price and the number or

                                     -62-

<PAGE>

kind or class of shares or other securities or property purchasable under the

Right Certificates made in accordance with the provisions of this Rights

Agreement.  In addition, in connection with the issuance or sale of Common

Stock following the Distribution Date and prior to the Expiration Date, the

Company may with respect to shares of Common Stock so issued or sold pursuant

to (i) the exercise of stock options, (ii) under any employee plan or

arrangement, (iii) upon the exercise, conversion or exchange of securities,

notes or debentures issued by the Company or (iv) a contractual obligation of

the Company in each case existing prior to the Distribution Date, issue

Rights Certificates representing the appropriate number of Rights in

connection with such issuance or sale.

          Section 23.  Redemption.  (a)  The Board of Directors of the

Company may, at any time prior to such time as any Person first becomes an

Acquiring Person, redeem all but not less than all the then outstanding

Rights at a redemption price of $.01 per Right, appropriately adjusted to

reflect any stock split, stock dividend or similar transaction occurring

after the date hereof (the redemption price being hereinafter referred to as

the "Redemption Price").  The redemption of the Rights may be made effective

at such time, on such basis and with such conditions as the Board of

Directors in its sole discretion may establish.  The Company may, at its

option, pay the Redemption Price in cash, shares of Common Stock (based on

the current market price of the Common Stock at the time of redemption) or

any other form of consideration deemed appropriate by the Board of Directors.

                                     -63-

<PAGE>

          (b)  Immediately upon the action of the Board of Directors ordering

the redemption of the Rights pursuant to paragraph (a) of this Section 23 (or

at such later time as the Board of Directors may establish for the

effectiveness of such redemption), and without any further action and without

any notice, the right to exercise the Rights will terminate and the only

right thereafter of the holders of Rights shall be to receive the Redemption

Price.  The Company shall promptly give public notice of any such redemption;

provided, however, that the failure to give, or any defect in, any such

notice shall not affect the validity of such redemption.   Within 10 days

after such action of the Board of Directors ordering the redemption of the

Rights (or such later time as the Board of Directors may establish for the

effectiveness of such redemption), the Company shall mail a notice of

redemption to all the holders of the then outstanding Rights at their last

addresses as they appear upon the registry books of the Rights Agent or,

prior to the Distribution Date, on the registry books of the transfer agent

for the Common Stock.  Any notice which is mailed in the manner herein

provided shall be deemed given, whether or not the holder receives the

notice.  Each such notice of redemption shall state the method by which the

payment of the Redemption Price will be made.

          Section 24.  Exchange.  (a)  The Board of Directors of the Company

may, at its option, at any time after any Person first becomes an Acquiring

Person, exchange all or part of the then outstanding and exercisable Rights

(which shall not include Rights that have not become effective or that have

become void pursuant to the provisions of Section 11(a)(ii) hereof) for

                                     -64-

<PAGE>

shares of Common Stock at an exchange ratio of one share of Common Stock per

Right, appropriately adjusted to reflect any stock split, stock dividend or

similar transaction occurring after the date hereof (such amount per Right

being hereinafter referred to as the "Exchange Ratio").  Notwithstanding the

foregoing, the Board of Directors shall not be empowered to effect such

exchange at any time after an Acquiring Person becomes the Beneficial Owner

of shares of Common Stock aggregating 50% or more of the shares of Common

Stock then outstanding.  From and after the occurrence of an event specified

in Section 13(a) hereof, any Rights that theretofore have not been exchanged

pursuant to this Section 24(a) shall thereafter be exercisable only in

accordance with Section 13 and may not be exchanged pursuant to this Section

24(a).  The exchange of the Rights by the Board of Directors may be made

effective at such time, on such basis and with such conditions as the Board

of Directors in its sole discretion may establish.

          (b)  Immediately upon the effectiveness of the action of the Board

of Directors of the Company ordering the exchange of any Rights pursuant to

paragraph (a) of this Section 24 and without any further action and without

any notice, the right to exercise such Rights shall terminate and the only

right thereafter of a holder of such Rights shall be to receive that number

of shares of Common Stock equal to the number of such Rights held by such

holder multiplied by the Exchange Ratio.  The Company shall promptly give

public notice of any such exchange; provided, however, that the failure to

give, or any defect in, such notice shall not affect the validity of such

exchange.  The Company shall promptly mail a notice of any such exchange to

                                     -65-

<PAGE>

all of the holders of the Rights so exchanged at their last addresses as they

appear upon the registry books of the Rights Agent.  Any notice which is

mailed in the manner herein provided shall be deemed given, whether or not

the holder receives the notice.  Each such notice of exchange will state the

method by which the exchange of the shares of Common Stock for Rights will be

effected and, in the event of any partial exchange, the number of Rights

which will be exchanged.  Any partial exchange shall be effected pro rata

based on the number of Rights (other than Rights which have become void

pursuant to the provisions of Section 11(a)(ii) hereof) held by each holder

of Rights.

          (c)  The Company may at its option substitute and, in the event

that there shall not be sufficient shares of Common Stock issued but not

outstanding or authorized but unissued to permit an exchange of Rights as

contemplated in accordance with this Section 24, the Company shall substitute

to the extent of such insufficiency, for each share of Common Stock that

would otherwise be issuable upon exchange of a Right, a number of shares of

Preferred Stock or fraction thereof (or equivalent preferred shares as such

term is defined in Section 11(b)) such that the current per share market

price (determined pursuant to Section 11(d) hereof) of one share of Preferred

Stock (or equivalent preferred share) multiplied by such number or fraction

is equal to the current per share market price of one share of Common Stock

(determined pursuant to Section 11(d) hereof) as of the date of such

exchange.

                                     -66-

<PAGE>

          Section 25.  Notice of Certain Events.  (a)  In case the Company

shall at any time after the earlier of the Distribution Date or the Stock

Acquisition Date propose (i) to pay any dividend payable in stock of any

class to the holders of its Preferred Stock or to make any other distribution

to the holders of its Preferred Stock (other than a regular quarterly cash

dividend), (ii) to offer to the holders of its Preferred Stock rights or

warrants to subscribe for or to purchase any additional shares of Preferred

Stock or shares of stock of any class or any other securities, rights or

options, (iii) to effect any reclassification of its Preferred Stock (other

than a reclassification involving only the subdivision or combination of

outstanding Preferred Stock), (iv) to effect the liquidation, dissolution or

winding up of the Company, or (v) to declare or pay any dividend on the

Common Stock payable in Common Stock or to effect a subdivision, combination

or consolidation of the Common Stock (by reclassification or otherwise than

by payment of dividends in Common Stock), then, in each such case, the

Company shall give to each holder of a Right Certificate, in accordance with

Section 26 hereof, a notice of such proposed action, which shall specify the

record date for the purposes of such stock dividend, or distribution or

offering of rights or warrants, or the date on which such liquidation,

dissolution, reclassification, subdivision, combination, consolidation or

winding up is to take place and the date of participation therein by the

holders of the Common Stock and/or Preferred Stock, if any such date is to be

fixed, and such notice shall be so given in the case of any action covered by

clause (i) or (ii) above at least 10 days prior to the record date for

                                     -67-

<PAGE>

determining holders of the Preferred Stock for purposes of such action, and

in the case of any such other action, at least 10 days prior to the date of

the taking of such proposed action or the date of participation therein by

the holders of the Common Stock and/or Preferred Stock, whichever shall be

the earlier.

          (b)  In case any event described in Section 11(a)(ii) or Section 13

shall occur then the Company shall as soon as practicable thereafter give to

each holder of a Right Certificate (or if occurring prior to the Distribution

Date, the holders of the Common Stock) in accordance with Section 26 hereof,

a notice of the occurrence of such event, which notice shall describe such

event and the consequences of such event to holders of Rights under Section

11(a)(ii) and Section 13 hereof.

          Section 26.  Notices.  Notices or demands authorized by this Rights

Agreement to be given or made by the Rights Agent or by the holder of any

Right Certificate to or on the Company shall be sufficiently given or made if

sent by first-class mail, postage prepaid, addressed (until another address

is filed in writing with the Rights Agent) as follows:

          The Dun & Bradstreet Corporation
          c/o Moody's Corporation
          99 Church Street
          New York, NY 10007
          Attn:  Chief Legal Counsel

Subject to the provisions of Section 21 hereof, any notice or demand

authorized by this Rights Agreement to be given or made by the Company or by

the holder of any Right Certificate to or on the Rights Agent shall be

sufficiently given or made if sent by first-class mail, postage prepaid,

                                     -68-

<PAGE>

addressed (until another address is filed in writing with the Company) as

follows:

          EquiServe Trust Company, N.A.
          525 Washington Boulevard
          Jersey City, NJ 07310
          Attn:  Craig Broomfield

Notices or demands authorized by this Rights Agreement to be given or made by

the Company or the Rights Agent to the holder of any Right Certificate shall

be sufficiently given or made if sent by first-class mail, postage prepaid,

addressed to such holder at the address of such holder as shown on the

registry books of the Company.

          Section 27.  Supplements and Amendments.  Except as otherwise

provided in this Section 27, for so long as the Rights are then redeemable,

the Company may in its sole and absolute discretion, and the Rights Agent

shall if the Company so directs, supplement or amend any provision of this

Rights Agreement in any respect without the approval of any holders of the

Rights.  At any time when the Rights are no longer redeemable, except as

otherwise provided in this Section 27, the Company may, and the Rights Agent

shall, if the Company so directs, supplement or amend this Rights Agreement

without the approval of any holders of Rights Certificates in order to (i)

cure any ambiguity, (ii) correct or supplement any provision contained herein

which may be defective or inconsistent with any other provisions herein,

(iii) shorten or lengthen any time period hereunder, or (iv) change or

supplement the provisions hereunder in any manner which the Company may deem

necessary or desirable; provided that no such supplement or amendment shall

                                     -69-

<PAGE>

adversely affect the interests of the holders of Rights as such (other than

an Acquiring Person or an Affiliate or Associate of an Acquiring Person), and

no such amendment may cause the rights again to become redeemable or cause

this Rights Agreement again to become amendable other than in accordance with

this sentence.  Notwithstanding anything contained in this  Rights Agreement

to the contrary, no supplement or amendment shall be made which decreases the

Redemption Price.  Upon the delivery of a certificate from an appropriate

officer of the Company which states that the supplement or amendment is in

compliance with the terms of this Section 27, the Rights Agent shall execute

such supplement or amendment; provided that any supplement or amendment that

does not amend Sections 18, 19, 20 or 21 hereof in a manner adverse to the

Rights Agent shall become effective immediately upon execution by the

Company, whether or not also executed by the Rights Agent.

          Section 28.  Successors.  All the covenants and provisions of this

Rights Agreement by or for the benefit of the Company or the Rights Agent

shall bind and inure to the benefit of their respective successors and

assigns hereunder.

          Section 29.  Benefits of this Rights Agreement.  Nothing in this

Rights Agreement shall be construed to give to any Person other than the

Company, the Rights Agent and the registered holders of the Right

Certificates (and, prior to the Distribution Date, the Common Stock) any

legal or equitable right, remedy or claim under this Rights Agreement; but

this Rights Agreement shall be for the sole and exclusive benefit of the

                                     -70-

<PAGE>

Company, the Rights Agent and the registered holders of the Right

Certificates (and, prior to the Distribution Date, the Common Stock).

          Section 30.  Determinations and Actions by the Board of Directors.

The Board of Directors of the Company shall have the exclusive power and

authority to administer this Rights Agreement and to exercise the rights and

powers specifically granted to the Board of Directors of the Company or to

the Company, or as may be necessary or advisable in the administration of

this Rights Agreement, including, without limitation, the right and power to

(i) interpret the provisions of this Rights Agreement and (ii) make all

determinations deemed necessary or advisable for the administration of this

Rights Agreement (including, without limitation, a determination to redeem or

not redeem the Rights or to amend this Rights Agreement).  All such actions,

calculations, interpretations and determinations (including, for purposes of

clause (y) below, all omissions with respect to the foregoing) that are done

or made by the Board of Directors of the Company in good faith, shall (x) be

final, conclusive and binding on the Company, the Rights Agent, the holders

of the Rights, as such, and all other parties, and (y) not subject the Board

of Directors to any liability to the holders of the Rights.

          Section 31.  Severability.  If any term, provision, covenant or

restriction of this Rights Agreement or applicable to this Rights Agreement

is held by a court of competent jurisdiction or other authority to be

invalid, void or unenforceable, the remainder of the terms, provisions,

covenants and restrictions of this Rights Agreement shall remain in full

force and effect and shall in no way be affected, impaired or invalidated.

                                     -71-

<PAGE>

          Section 32.  Governing Law.  This Rights Agreement and each Right

Certificate issued hereunder shall be deemed to be a contract made under the

laws of the State of Delaware and for all purposes shall be governed by and

construed in accordance with the laws of such State applicable to contracts

to be made and performed entirely within such State.

          Section 33.  Counterparts.  This Rights Agreement may be executed

in any number of counterparts and each of such counterparts shall for all

purposes be deemed to be an original, and all such counterparts shall

together constitute but one and the same instrument.

          Section 34.  Descriptive Headings.  Descriptive headings of the

several Sections of this Rights Agreement are inserted for convenience only

and shall not control or affect the meaning or construction of any of the

provisions hereof.

                                     -72-

<PAGE>

          IN WITNESS WHEREOF, the parties hereto have caused this Rights

Agreement to be duly executed and attested, all as of the day and year first

above written.

Attest:                          THE DUN & BRADSTREET CORPORATION

                                 By   /s/ David J. Lewinter
                                    -------------------------------
                                    Name:  David J. Lewinter
                                    Title:  Vice President and
                                            Corporate Secretary

                                 EQUISERVE TRUST COMPANY, N.A.

                                 By  /s/ Craig Broomfield
                                   --------------------------------
                                    Name:  Craig Broomfield
                                    Title:  Senior Account Manager

                                     -73-

<PAGE>

                                                                     Exhibit A

                                     FORM

                                      OF

                      AMENDED CERTIFICATE OF DESIGNATIONS

                                      OF

                 SERIES A JUNIOR PARTICIPATING PREFERRED STOCK

                                      OF

                       The Dun & Bradstreet Corporation

                        (Pursuant to Section 151 of the
               General Corporation Law of the State of Delaware)

                              ___________________

                 The Dun & Bradstreet Corporation, a corporation organized
and existing under the General Corporation Law of the State of Delaware (the
"Company"), in accordance with the provisions of Section 103 thereof, DOES
HEREBY CERTIFY:

         1.      That by resolution of the Board of Directors of the Company
dated June 3, 1998, and by a Certificate of Designation filed in the office
of the Secretary of State of the State of Delaware on June 19, 1998, the
Company authorized a series of 500,000 shares of Series A Junior
Participating Preferred Stock, par value $.01 per share, of the Company (the
"Series A Preferred Stock") and established the powers, designations,
preferences and relative, participating, optional and other rights of the
Series A Preferred Stock and the qualifications, limitations or restrictions
thereof.

         2.      As of the date hereof no shares of Series A Preferred Stock
are outstanding and no shares of Series A Preferred Stock have been issued.

         3.      That pursuant to the authority conferred on the Board of
Directors of the Company (hereinafter called the "Board of Directors" or the
"Board") in accordance with the provisions of the Company's Restated
Certificate of Incorporation, as amended to date (hereinafter called the
"Certificate of Incorporation"), and the provisions of Section 151(g) of the
General Corporation Law of the State of Delaware, the Board of Directors on
September 8, 2000 adopted a resolution to, and the Company does hereby, amend
the Certificate of Designation to read in its entirety as follows:

                                      A-1

<PAGE>

                 Section 1.  Designation and Amount.  The shares of such
series shall be designated as "Series A Junior Participating Preferred Stock"
(the "Series A Preferred Stock") and the number of shares constituting the
Series A Preferred Stock shall be 500,000.  Such number of shares may be
increased or decreased by resolution of the Board of Directors; provided, that
no decrease shall reduce the number of shares of Series A Preferred Stock to
a number less than the number of shares then outstanding plus the number of
shares reserved for issuance upon the exercise of outstanding options, rights
or warrants or upon the conversion of any outstanding securities issued by
the Company convertible into Series A Preferred Stock.

                 Section 2.  Dividends and Distributions.

                 (A)      Subject to the rights of the holders of any shares
of any series of Preferred Stock of the Company (the "Preferred Stock") (or
any similar stock) ranking prior and superior to the Series A Preferred Stock
with respect to dividends, the holders of shares of Series A Preferred Stock,
in preference to the holders of Common Stock, par value $.01 per share, of
the Company (the "Common Stock") and of any other stock of the Company
ranking junior to the Series A Preferred Stock, shall be entitled to receive,
when, as and if declared by the Board of Directors out of funds legally
available for the purpose, quarterly dividends payable in cash on the last
day of January, April, July, and October in each year (each such date being
referred to herein as a "Dividend Payment Date"), commencing on the first
Dividend Payment Date after the first issuance of a share or fraction of a
share of Series A Preferred Stock (the "Issue Date"), in an amount per share
(rounded to the nearest cent) equal to the greater of (a) $10 or (b) subject
to the provision for adjustment hereinafter set forth, 1000 times the
aggregate per share amount of all cash dividends, and 1000 times the
aggregate per share amount (payable in kind) of all non-cash dividends or
other distributions other than a dividend payable in shares of Common Stock,
declared on the Common Stock since the immediately preceding Dividend Payment
Date or, with respect to the first Dividend Payment Date, since the first
issuance of any share or fraction of a share of Series A Preferred Stock.  In
the event the Company shall at any time after the Issue Date declare and pay
any dividend on the Common Stock payable in shares of Common Stock, or effect
a subdivision or combination or consolidation of the outstanding shares of
Common Stock (by reclassification or otherwise than by payment of a dividend
in shares of Common Stock) into a greater or lesser number of shares of
Common Stock, then in each such case the amount to which holders of shares of
Series A Preferred Stock were entitled immediately prior to such event under
clause (b) of the preceding sentence shall be adjusted by multiplying such
amount by a fraction, the numerator of which is the number of shares of
Common Stock outstanding immediately after such event and the denominator of
which is the number of shares of Common Stock that were outstanding
immediately prior to such event.

                                      A-2

<PAGE>

                 (B)      The Company shall declare a dividend or distribution
on the Series A Preferred Stock as provided in paragraph (A) of this Section
immediately after it declares a dividend or distribution on the Common Stock
(other than a dividend payable in shares of Common Stock); provided that, in
the event no dividend or distribution shall have been declared on the Common
Stock during the period between any Dividend Payment Date and the next
subsequent Dividend Payment Date, a dividend of $10 per share on the Series A
Preferred Stock shall nevertheless be payable, when, as and if declared, on
such subsequent Dividend Payment Date.

                 (C)      Dividends shall begin to accrue and be cumulative,
whether or not earned or declared, on outstanding shares of Series A
Preferred Stock from the Dividend Payment Date next preceding the date of
issue of such shares, unless the date of issue of such shares is prior to the
record date for the first Dividend Payment Date, in which case dividends on
such shares shall begin to accrue from the date of issue of such shares, or
unless the date of issue is a Dividend Payment Date or is a date after the
record date for the determination of holders of shares of Series A Preferred
Stock entitled to receive a quarterly dividend and before such Dividend
Payment Date, in either of which events such dividends shall begin to accrue
and be cumulative from such Dividend Payment Date.  Accrued but unpaid
dividends shall not bear interest.  Dividends paid on the shares of Series A
Preferred Stock in an amount less than the total amount of such dividends at
the time accrued and payable on such shares shall be allocated pro rata on a
share-by-share basis among all such shares at the time outstanding.  The
Board of Directors may fix a record date for the determination of holders of
shares of Series A Preferred Stock entitled to receive payment of a dividend
or distribution declared thereon, which record date shall be not more than 60
days prior to the date fixed for the payment thereof.

                 Section 3.  Voting Rights.  The holders of shares of Series
A Preferred Stock shall have the following voting rights;

                 (A)      Subject to the provision for adjustment hereinafter
         set forth and except as otherwise provided in the Certificate of
         Incorporation or required by law, each share of Series A Preferred
         Stock shall entitle the holder thereof to 1000 votes on all matters
         upon which the holders of the Common Stock of the Company are
         entitled to vote.  In the event the Company shall at any time after
         the Issue Date declare or pay any dividend on the Common Stock
         payable in shares of Common Stock, or effect a subdivision or
         combination or consolidation of the outstanding shares of Common
         Stock (by reclassification or otherwise than by payment of a dividend
         in shares of Common Stock) into a greater or lesser number of shares
         of Common Stock, then in each such case the number of votes per share
         to which holders of shares of Series A Preferred Stock were entitled
         immediately prior to such event shall be adjusted by multiplying such

                                      A-3

<PAGE>

         number by a fraction, the numerator of which is the number of shares
         of Common Stock outstanding immediately after such event and the
         denominator of which is the number of shares of Common Stock that
         were outstanding immediately prior to such event.

                 (B)      Except as otherwise provided herein, in the
         Certificate of Incorporation or in any other Certificate of
         Designations creating a series of Preferred Stock or any similar
         stock, and except as otherwise required by law, the holders of shares
         of Series A Preferred Stock and the holders of shares of Common Stock
         and any other capital stock of the Company having general voting
         rights shall vote together as one class on all matters submitted to a
         vote of stockholders of the Company.

                 (C)      Except as set forth herein, or as otherwise provided
         by law, holders of Series A Preferred Stock shall have no special
         voting rights and their consent shall not be required (except to the
         extent they are entitled to vote with holders of Common Stock as set
         forth herein) for taking any corporate action.

                 (D)      If, at the time of any annual meeting of
         stockholders for the election of directors, the equivalent of six
         quarterly dividends (whether or not consecutive) payable on any share
         or shares of Series A Preferred Stock are in default, the number of
         directors constituting the Board of Directors of the Company shall be
         increased by two. In addition to voting together with the holders of
         Common Stock for the election of other directors of the Company, the
         holders of record of the Series A Preferred Stock, voting separately
         as a class to the exclusion of the holders of Common Stock shall be
         entitled at said meeting of stockholders (and at each subsequent
         annual meeting of stockholders), unless all dividends in arrears on
         the Series A Preferred Stock have been paid or declared and set apart
         for payment prior thereto, to vote for the election of two directors
         of the Company, the holders of any Series A Preferred Stock being
         entitled to cast a number of votes per share of Series A Preferred
         Stock as is specified in paragraph (A) of this Section 3. Each such
         additional director shall not be a member of Class I, Class II or
         Class III of the Board of Directors of the Company, but shall serve
         until the next annual meeting of stockholders for the election of
         directors, or until his successor shall be elected and shall qualify,
         or until his right to hold such office terminates pursuant to the
         provisions of this Section 3(D).  Until the default in payments
         of all dividends which permitted the election of said directors shall
         cease to exist, any director who shall have been so elected pursuant

                                      A-4

<PAGE>

         to the provisions of this Section 3(D) may be removed at any time,
         without cause, only by the affirmative vote of the holders of
         the shares of Series A Preferred Stock at the time entitled to cast a
         majority of the votes entitled to be cast for the election of any
         such director at a special meeting of such holders called for that
         purpose, and any vacancy thereby created may be filled by the vote
         of such holders. If and when such default shall cease to exist, the
         holders of the Series A Preferred Stock shall be divested of the
         foregoing special voting rights, subject to revesting in the event
         of each and every subsequent like default in payments of
         dividends. Upon the termination of the foregoing special voting
         rights, the terms of office of all persons who may have been elected
         directors pursuant to said special voting rights shall forthwith
         terminate, and the number of directors constituting the Board of
         Directors shall be reduced by two. The voting rights granted by this
         Section 3(D) shall be in addition to any other voting rights granted
         to the holders of the Series A Preferred Stock in this Section 3.

                 Section 4.  Certain Restrictions.

                 (A)  Whenever quarterly dividends or other dividends or
         distributions payable on the Series A Preferred Stock as provided in
         Section 2 are in arrears, thereafter and until all accrued and unpaid
         dividends and distributions, whether or not earned or declared, on
         shares of Series A Preferred Stock outstanding shall have been paid
         in full, the Company shall not:

                      (i)  declare or pay dividends, or make any other
                 distributions, on any shares of stock ranking junior (either
                 as to dividends or upon liquidation, dissolution or winding
                 up) to the Series A Preferred Stock;

                     (ii)  declare or pay dividends, or make any other
                 distributions, on any shares of stock ranking on a parity
                 (either as to dividends or upon liquidation, dissolution or
                 winding up) with the Series A Preferred Stock, except
                 dividends paid ratably on the Series A Preferred Stock and

                                      A-5

<PAGE>

                 all such parity stock on which dividends are payable or in
                 arrears in proportion to the total amounts to which the
                 holders of all such shares are then entitled;

                    (iii)  redeem or purchase or otherwise acquire for
                 consideration shares of any stock ranking junior (either as
                 to dividends or upon liquidation, dissolution or winding up)
                 to the Series A Preferred Stock, provided that the Company
                 may at any time redeem, purchase or otherwise acquire shares
                 of any such junior stock in exchange for shares of any stock
                 of the Company ranking junior (as to dividends and upon
                 dissolution, liquidation or winding up) to the Series A
                 Preferred Stock or rights, warrants or options to acquire
                 such junior stock;

                     (iv)  redeem or purchase or otherwise acquire for
                 consideration any shares of Series A Preferred Stock, or any
                 shares of stock ranking on a parity (either as to dividends
                 or upon liquidation, dissolution or winding up) with the
                 Series A Preferred Stock, except in accordance with a
                 purchase offer made in writing or by publication (as
                 determined by the Board of Directors) to all holders of such
                 shares upon such terms as the Board of Directors, after
                 consideration of the respective annual dividend rates and
                 other relative rights and preferences of the respective
                 series and classes, shall determine in good faith will
                 result in fair and equitable treatment among the respective
                 series or classes.

                 (B)      The Company shall not permit any subsidiary of the
         Company to purchase or otherwise acquire for consideration any shares
         of stock of the Company unless the Company could, under paragraph (A)
         of this Section 4, purchase or otherwise acquire such shares at such
         time and in such manner.

                 Section 5.  Reacquired Shares.  Any shares of Series A
Preferred Stock purchased or otherwise acquired by the Company in any manner
whatsoever shall be retired and cancelled promptly after the acquisition
thereof.  All such shares shall upon their retirement become authorized but
unissued shares of Preferred Stock and may be reissued as part of a new
series of Preferred Stock to be created by resolution or resolutions of the
Board of Directors, subject to any conditions and restrictions on issuance
set forth herein.

                 Section 6.  Liquidation, Dissolution or Winding Up.  Upon
any liquidation, dissolution or winding up of the Company, no distribution
shall be made (A) to the holders of the Common Stock or of shares of any

                                      A-6

<PAGE>

other stock of the Company ranking junior, upon liquidation, dissolution or
winding up, to the Series A Preferred Stock unless, prior thereto, the
holders of shares of Series A Preferred Stock shall have received $100 per
share, plus an amount equal to accrued and unpaid dividends and distributions
thereon, whether or not earned or declared, to the date of such payment,
provided that the holders of shares of Series A Preferred Stock shall be
entitled to receive an aggregate amount per share, subject to the provision
for adjustment hereinafter set forth,  equal to 1000 times the aggregate
amount to be distributed per share to holders of shares of Common Stock, or
(B) to the holders of shares of stock ranking on a parity upon liquidation,
dissolution or winding up with the Series A Preferred Stock, except
distributions made ratably on the Series A Preferred Stock and all such
parity stock in proportion to the total amounts to which the holders of all
such shares are entitled upon such liquidation, dissolution or winding up.
In the event, however, that there are not sufficient assets available to
permit payment in full of the Series A liquidation preference and the
liquidation preferences of all other classes and series of stock of the
Company, if any, that rank on a parity with the Series A Preferred Stock in
respect thereof, then the assets available for such distribution shall be
distributed ratably to the holders of the Series A Preferred Stock and the
holders of such parity shares in the proportion to their respective
liquidation preferences.  In the event the Company shall at any time after
the Issue Date declare or pay any dividend on the Common Stock payable in
shares of Common Stock, or effect a subdivision or combination or
consolidation of the outstanding shares of Common Stock (by reclassification
or otherwise than by payment of a dividend in shares of Common Stock) into a
greater or lesser number of shares of Common Stock, then in each such case
the aggregate amount to which holders of shares of Series A Preferred Stock
were entitled immediately prior to such event under the proviso in clause (A)
of the preceding sentence shall be adjusted by multiplying such amount by a
fraction the numerator of which is the number of shares of Common Stock
outstanding immediately after such event and the denominator of which is the
number of shares of Common Stock that were outstanding immediately prior to
such event.

Neither the merger or consolidation of the Company into or with another
entity nor the merger or consolidation of any other entity into or with the
Company (nor the sale of all or substantially all of the assets of the
Company) shall be deemed to be a liquidation, dissolution or winding up of
the Company within the meaning of this Section 6.

                 Section 7.  Consolidation, Merger, etc.  In case the Company
shall enter into any consolidation, merger, combination or other transaction
in which the shares of Common Stock are converted into, exchanged for or
changed into other stock or securities, cash and/or any other property, then
in any such case each share of Series A Preferred Stock shall at the same
time be similarly converted into, exchanged for or changed into an amount per

                                      A-7

<PAGE>

share (subject to the provision for adjustment hereinafter set forth) equal
to 1000 times the aggregate amount of stock, securities, cash and/or any
other property (payable in kind), as the case may be, into which or for which
each share of Common Stock is converted, exchanged or converted.  In the
event the Company shall at any time after the Issue Date declare or pay any
dividend on the Common Stock payable in shares of Common Stock, or effect a
subdivision or combination or consolidation of the outstanding shares of
Common Stock (by reclassification or otherwise than by payment of a dividend
in shares of Common Stock) into a greater or lesser number of shares of
Common Stock, then in each such case the amount set forth in the preceding
sentence with respect to the conversion, exchange or change of shares of
Series A Preferred Stock shall be adjusted by multiplying such amount by a
fraction, the numerator of which is the number of shares of Common Stock
outstanding immediately after such event and the denominator of which is the
number of shares of Common Stock that were outstanding immediately prior to
such event.

                 Section 8.  No Redemption.  The shares of Series A Preferred
Stock shall not be redeemable from any holder.

                 Section 9.  Rank.  The Series A Preferred Stock shall rank,
with respect to the payment of dividends and the distribution of assets upon
liquidation, dissolution or winding up of the Company, junior to all other
series of Preferred Stock and senior to the Common Stock.

                 Section 10.  Amendment.  If any proposed amendment to the
Certificate of Incorporation (including this Certificate of Designations)
would alter, change or repeal any of the preferences, powers or special
rights given to the Series A Preferred Stock so as to affect the Series A
Preferred Stock adversely, then the holders of the Series A Preferred Stock
shall be entitled to vote separately as a class upon such amendment, and the
affirmative vote of two-thirds of the outstanding shares of the Series A
Preferred Stock, voting separately as a class, shall be necessary for the
adoption thereof, in addition to such other vote as may be required by the
General Corporation Law of the State of Delaware.

                 Section 11.  Fractional Shares.  Series A Preferred Stock
may be issued in fractions of a share that shall entitle the holder, in
proportion to such holder's fractional shares, to exercise voting rights,
receive dividends, participate in distributions and to have the benefit of
all other rights of holders of Series A Preferred Stock.

                                      A-8

<PAGE>

                 IN WITNESS WHEREOF, this Amended Certificate of Designations
is executed on behalf of the Company by its _____________________ and attested
by its Secretary this __th day of September, 2000.

                                       _____________________________
                                       Name:
                                       Title:

Attest:

______________________
Secretary

                                      A-9

<PAGE>

                                                                     Exhibit B

                           Form of Right Certificate

Certificate No. R- ____                                             ___ Rights

         NOT EXERCISABLE AFTER JUNE 30, 2008 OR EARLIER IF
         REDEMPTION OR EXCHANGE OCCURS.  THE RIGHTS ARE
         SUBJECT TO REDEMPTION AT $.01 PER RIGHT AND TO EXCHANGE
         ON THE TERMS SET FORTH IN THE RIGHTS AGREEMENT.  UNDER CERTAIN
         CIRCUMSTANCES, AS SET FORTH IN THE RIGHTS AGREEMENT, RIGHTS OWNED BY
         OR TRANSFERRED TO ANY PERSON WHO IS OR BECOMES AN ACQUIRING PERSON
         (AS DEFINED IN THE RIGHTS AGREEMENT) AND CERTAIN TRANSFEREES THEREOF
         WILL BECOME NULL AND VOID AND WILL NO LONGER BE TRANSFERABLE.

                               Right Certificate

                       THE DUN & BRADSTREET CORPORATION

                 This certifies that ___________ or registered assigns, is
the registered owner of the number of Rights set forth above, each of which
entitles the owner thereof, subject to the terms, provisions and conditions
of the Amended and Restated Rights Agreement, dated as of September 27, 2000
as the same may be amended from time to time (the "Rights Agreement"),
between The Dun & Bradstreet Corporation, a Delaware corporation (the
"Company"), and EquiServe Trust Company, N.A. (the "Rights Agent"), to
purchase from the Company at any time after the Distribution Date (as such
term is defined in the Rights Agreement) and prior to 5:00 P.M., New York
City time, on June 30, 2008 at the office or agency of the Rights Agent
designated for such purpose, or of its successor as Rights Agent, one
one-thousandth of a fully paid non-assessable share of Series A Junior
Participating Preferred Stock, par value $.01 per share (the "Preferred
Stock"), of the Company, at a purchase price of $100 per one one-thousandth
of a share of Preferred Stock (the "Purchase Price"), upon presentation and
surrender of this Right Certificate with the Form of Election to Purchase
duly executed.  The number of Rights evidenced by this Rights Certificate
(and the number of one one-thousandths of a share of Preferred Stock which
may be purchased upon exercise hereof) set forth above, and the Purchase
Price set forth above, are the number and Purchase Price as of _________ __,
____, based on the Preferred Stock as constituted at such date.  As provided
in the Rights Agreement, the Purchase Price, the number of one
one-thousandths of a share of Preferred Stock (or other securities or

                                      B-1

<PAGE>

property) which may be purchased upon the exercise of the Rights and the
number of Rights evidenced by this Right Certificate are subject to
modification and adjustment upon the happening of certain events.

                 This Right Certificate is subject to all of the terms,
provisions and conditions of the Rights Agreement, which terms, provisions
and conditions are hereby incorporated herein by reference and made a part
hereof and to which Rights Agreement reference is hereby made for a full
description of the rights, limitations of rights, obligations, duties and
immunities hereunder of the Rights Agent, the Company and the holders of the
Right Certificates.  Copies of the Rights Agreement are on file at the
principal executive offices of the Company and the above-mentioned office or
agency of the Rights Agent.  The Company will mail to the holder of this
Right Certificate a copy of the Rights Agreement without charge after receipt
of a written request therefor.

                 This Right Certificate, with or without other Right
Certificates, upon surrender at the office or agency of the Rights Agent
designated for such purpose, may be exchanged for another Right Certificate
or Right Certificates of like tenor and date evidencing Rights entitling the
holder to purchase a like aggregate number of shares of Preferred Stock as
the Rights evidenced by the Right Certificate or Right Certificates
surrendered shall have entitled such holder to purchase.  If this Right
Certificate shall be exercised in part, the holder shall be entitled to
receive upon surrender hereof another Right Certificate or Right Certificates
for the number of whole Rights not exercised.

                 Subject to the provisions of the Rights Agreement, the
Rights evidenced by this Certificate (i) may be redeemed by the Company at a
redemption price of $.01 per Right or (ii) may be exchanged in whole or in
part for shares of Preferred Stock or shares of the Company's Common Stock,
par value $.01 per share.

                 No fractional shares of Preferred Stock or Common Stock will
be issued upon the exercise or exchange of any Right or Rights evidenced
hereby (other than fractions of Preferred Stock which are integral multiples
of one one-thousandth of a share of Preferred Stock, which may, at the
election of the Company, be evidenced by depositary receipts), but in lieu
thereof a cash payment will be made, as provided in the Rights Agreement.

                 No holder of this Right Certificate, as such, shall be
entitled to vote or receive dividends or be deemed for any purpose the holder
of the Preferred Stock or of any other securities of the Company which may at
any time be issuable on the exercise or exchange hereof, nor shall anything
contained in the Rights Agreement or herein be construed to confer upon the
holder hereof, as such, any of the rights of a stockholder of the Company or
any right to vote for the election of directors or upon any matter submitted

                                      B-2

<PAGE>

to stockholders at any meeting thereof, or to give or withhold consent to any
corporate action, or to receive notice of meetings or other actions affecting
stockholders (except as provided in the Rights Agreement) or to receive
dividends or subscription rights, or otherwise, until the Right or Rights
evidenced by this Right certificate shall have been exercised or exchanged as
provided in the Rights Agreement.

                 This Right Certificate shall not be valid or obligatory for
any purpose until it shall have been countersigned by the Rights Agent.

                                      B-3

<PAGE>

                 WITNESS the facsimile signature of the proper officers of
the Company and its corporate seal.  Dated as of _____________.

ATTEST:                            THE DUN & BRADSTREET CORPORATION

By __________________              By ______________________________

Countersigned:

_______________________,
as Rights Agent

By _________________________
   Authorized Signature

                                      B-4

<PAGE>

                   Form of Reverse Side of Right Certificate

                              FORM OF ASSIGNMENT

               (To be executed by the registered holder if such
               holder desires to transfer the Right Certificate)

                 FOR VALUE RECEIVED _________________________ hereby sells,
assigns and transfer unto ________________________________________________
__________________________________________________________________________
                 (Please print name and address of transferee)
__________________________________________________________________________
Rights represented by this Right Certificate, together with all right, title
and interest therein, and does hereby irrevocably constitute and appoint
___________________ Attorney, to transfer said Rights on the books of the
within-named Company, with full power of substitution.

Dated: _________________

                                   ______________________________
                                   Signature

Signature Guaranteed:

                 Signatures must be guaranteed by a bank, trust company,
broker, dealer or other eligible institution participating in a recognized
signature guarantee medallion program

------------------------------------------------------------
                               (To be completed)

                 The undersigned hereby certifies that the Rights evidenced
by this Right Certificate are not beneficially owned by, were not acquired by
the undersigned from, and are not being assigned to, an Acquiring Person or
an Affiliate or Associate thereof (as defined in the Rights Agreement).

                                   _______________________________
                                   Signature

                                      B-5

<PAGE>

             Form of Reverse Side of Right Certificate - continued

                         FORM OF ELECTION TO PURCHASE

                 (To be executed if holder desires to exercise
                 Rights represented by the Rights Certificate)

To The Dun & Bradstreet Corporation:

                 The undersigned hereby irrevocably elects to exercise
__________________ Rights represented by this Right Certificate to purchase
the shares of Preferred Stock (or other securities or property) issuable upon
the exercise of such Rights and requests that certificates for such shares of
Preferred Stock (or such other securities) be issued in the name of:

_________________________________________________________________________
                          (Please print name and address)

_________________________________________________________________________

If such number of Rights shall not be all the Rights evidenced by this Right
Certificate, a new Right Certificate for the balance remaining of such Rights
shall be registered in the name of and delivered to:

Please insert social security
or other identifying number

___________________________________________________________________________
                          (Please print name and address)

___________________________________________________________________________

Dated:  ____________________

                                        ____________________________
                                        Signature
(Signature must conform to holder specified on Right Certificate)

Signature Guaranteed:

                 Signature must be guaranteed by bank, trust company, broker,
dealer or other eligible institution participating in a recognized signature
guarantee medallion program.

                                      B-6

<PAGE>

            Form of Reverse Side of Right Certificate -- continued

                              (To be completed)
_________________________________________________________________________

                 The undersigned certifies that the Rights evidenced by this
Right Certificate are not beneficially owned by, and were not acquired by the
undersigned from, an Acquiring Person or an Affiliate or Associate thereof
(as defined in the Rights Agreement)

                                   ______________________
                                   Signature

_________________________________________________________________________

                                    NOTICE

                 The signature in the Form of Assignment or Form of Election
to Purchase, as the case may be, must conform to the name as written upon the
face of this Right Certificate in every particular, without alteration or
enlargement or any change whatsoever.

                 In the event the certification set forth above in the Form
of Assignment or the Form of Election to Purchase, as the case may be, is not
completed, such Assignment or Election to Purchase will not be honored.

                                      B-7

<PAGE>

                                                                     Exhibit C

         UNDER CERTAIN CIRCUMSTANCES, AS SET FORTH IN THE RIGHTS AGREEMENT,
         RIGHTS OWNED BY OR TRANSFERRED TO ANY PERSON WHO IS OR BECOMES AN
         ACQUIRING PERSON (AS DEFINED IN THE RIGHTS AGREEMENT) AND CERTAIN
         TRANSFEREES THEREOF WILL BECOME NULL AND VOID AND WILL NO LONGER BE
         TRANSFERABLE.

                         SUMMARY OF RIGHTS TO PURCHASE
                           Shares of Preferred Stock

                 On June 3, 1998 the Board of Directors of The Dun &
Bradstreet Corporation (the "Company") declared a dividend of one preferred
share purchase right (a "Right") for each outstanding share of common stock,
par value $.01 per share of the Company (the "Common Stock").  The dividend
is payable on June 19, 1998 (the "Record Date") to the stockholders of record
on that date.  Each Right entitles the registered holder to purchase from the
Company one one-thousandth of a share of Series A Junior Participating
Preferred Stock, par value $.01 per share (the "Preferred Stock") of the
Company at a price of $100 per one one-thousandth of a share of Preferred
Stock (as the same may be adjusted, the "Purchase Price"), subject to
adjustment.  The description and terms of the Rights are set forth in an
Amended and Restated Rights Agreement dated as of September 27, 2000 as the
same may be amended from time to time (the "Rights Agreement"), between the
Company and EquiServe Trust Company, N.A., as Rights Agent (the "Rights
Agent").

                 Until the earlier to occur of (i) 10 days following a public
announcement that a person or group of affiliated or associated persons (with
certain exceptions an "Acquiring Person") have acquired beneficial ownership
of 15% or more of the outstanding shares of Common Stock or (ii) 10 business
days (or such later date as may be determined by action of the Board of
Directors prior to such time as any person or group of affiliated persons
becomes an Acquiring Person) following the commencement of, or announcement
of an intention to make, a tender offer or exchange offer the consummation of
which would result in the beneficial ownership by a person or group of 15% or
more of the outstanding shares of Common Stock (the earlier of such dates
being called the "Distribution Date"), the Rights will be evidenced, with
respect to any of the Common Stock certificates outstanding as of the Record
Date, by such Common Stock certificate together with a copy of this Summary
of Rights.

                 The Rights Agreement provides that, until the Distribution
Date (or earlier redemption or expiration of the Rights), the Rights will be
transferred with and only with the Common Stock.  Until the Distribution Date
(or earlier redemption or expiration of the Rights), Common Stock
certificates will contain a notation incorporating the Rights Agreement by

                                       1

<PAGE>

reference.  Until the Distribution Date (or earlier redemption or expiration
of the Rights), the surrender for transfer of any certificates for shares of
Common Stock outstanding as of the Record Date, even without such notation or
a copy of this Summary of Rights, will also constitute the transfer of the
Rights associated with the shares of Common Stock represented by such
certificate.  As soon as practicable following the Distribution Date,
separate certificates evidencing the Rights ("Right Certificates") will be
mailed to holders of record of the Common Stock as of the close of business
on the Distribution Date and such separate Right Certificates alone will
evidence the Rights.

                 The Rights are not exercisable until the Distribution Date.
The Rights will expire on June 30, 2008 (the "Final Expiration Date"), unless
the Final Expiration Date is advanced or extended or unless the Rights are
earlier redeemed or exchanged by the Company, in each case as described
below.

                 The Purchase Price payable, and the number of shares of
Preferred Stock or other securities or property issuable, upon exercise of
the Rights are subject to adjustment from time to time to prevent dilution
(i) in the event of a stock dividend on, or a subdivision, combination or
reclassification of, the Preferred Stock, (ii) upon the grant to holders of
the Preferred Stock of certain rights or warrants to subscribe for or
purchase Preferred Stock at a price, or securities convertible into Preferred
Stock with a conversion price, less than the then-current market price of the
Preferred Stock or (iii) upon the distribution to holders of the Preferred
Stock of evidences of indebtedness or assets (excluding regular periodic cash
dividends or dividends payable in Preferred Stock) or of subscription rights
or warrants (other than those referred to above).

                 The Rights are also subject to adjustment in the event of a
stock dividend on the Common Stock payable in shares of Common Stock or
subdivisions, consolidations or combinations of the Common Stock occurring,
in any such case, prior to the Distribution Date.

                 Shares of Preferred Stock purchasable upon exercise of the
Rights will not be redeemable.  Each share of Preferred Stock will be
entitled, when, as and if declared, to a minimum preferential quarterly
dividend payment of the greater of (a) $10 per share and (b) an amount equal
to 1000 times the dividend declared per share of Common Stock.  In the event
of liquidation, dissolution or winding up of the Company, the holders of the
Preferred Stock will be entitled to a minimum preferential liquidation
payment of $100 per share (plus any accrued but unpaid dividends) but will be
entitled to an aggregate payment of 1000 times the payment made per share of
Common Stock.  Each share of Preferred Stock will have 1000 votes, voting
together with the Common Stock.  Finally, in the event of any merger,
consolidation or other transaction in which shares of Common Stock are

                                       2

<PAGE>

converted or exchanged, each share of Preferred Stock will be entitled to
receive 1000 times the amount received per share of Common Stock.  These
rights are protected by customary antidilution provisions.

                 Because of the nature of the Preferred Stock's dividend,
liquidation and voting rights, the value of the one one-thousandth interest
in a share of Preferred Stock purchasable upon exercise of each Right should
approximate the value of one share of Common Stock.

                 In the event that any person or group of affiliated or
associated persons becomes an Acquiring Person, each holder of a Right, other
than Rights beneficially owned by the Acquiring Person (which will thereupon
become void), will thereafter have the right to receive upon exercise of a
Right and payment of the Purchase Price, that number of shares of Common
Stock having a market value of two times the Purchase Price.

                 In the event that, after a person or group has become an
Acquiring Person, the Company is acquired in a merger or other business
combination transaction or 50% or more of its consolidated assets or earning
power are sold, proper provision will be made so that each holder of a Right
(other than Rights beneficially owned by an Acquiring Person which will have
become void) will thereafter have the right to receive, upon the exercise
thereof at the then current exercise price of the Right, that number of
shares of common stock of the person with whom the Company has engaged in the
foregoing transaction (or its parent), which number of shares at the time of
such transaction will have a market value of two times the Purchase Price.

                 At any time after any person or group becomes an Acquiring
Person and prior to the acquisition by such person or group of 50% or more of
the outstanding shares of Common Stock or the occurrence of an event
described in the prior paragraph, the Board of Directors of the Company may
exchange the Rights (other than Rights owned by such person or group which
will have become void), in whole or in part, at an exchange ratio of one
share of Common Stock, or a fractional share of Preferred Stock (or of a
share of a similar class or series of the Company's preferred stock having
similar rights, preferences and privileges) of equivalent value, per Right
(subject to adjustment).

                 With certain exceptions, no adjustment in the Purchase Price
will be required until cumulative adjustments require an adjustment of at
least 1% in such Purchase Price.  No fractional shares of Preferred Stock
will be issued (other than fractions which are integral multiples of one
one-thousandth of a share of Preferred Stock, which may, at the election of
the Company, be evidenced by depositary receipts) and in lieu thereof, an
adjustment in cash will be made based on the market price of the Preferred
Stock on the last trading day prior to the date of exercise.

                                       3

<PAGE>

                 At any time prior to the time an Acquiring Person becomes
such, the Board of Directors of the Company may redeem the Rights in whole,
but not in part, at a price of $.01 per Right (the "Redemption Price").  The
redemption of the Rights may be made effective at such time, on such basis
and with such conditions as the Board of Directors in its sole discretion may
establish.  Immediately upon any redemption of the Rights, the right to
exercise the Rights will terminate and the only right of the holders of
Rights will be to receive the Redemption Price.

                 For so long as the Rights are then redeemable, the Company
may, except with respect to the redemption price, amend the Rights Agreement
in any manner.  After the Rights are no longer redeemable, the Company may,
except with respect to the redemption price, amend the Rights in any manner
that does not adversely affect the interests of holders of the Rights.

                 Until a Right is exercised or exchanged, the holder thereof,
as such, will have no rights as a stockholder of the Company, including,
without limitation, the right to vote or to receive dividends.

                 A copy of the Rights Agreement has been filed with the
Securities and Exchange Commission as an Exhibit to a Registration Statement
on Form 8-A dated June 18, 1998. A copy of the Rights Agreement is available
free of charge from the Company.  This summary description of the Rights does
not purport to be complete and is qualified in its entirety by reference to
the Rights Agreement, as the same may be amended from time to time, which is
hereby incorporated herein by reference.

                                       4

<PAGE>

                            TABLE OF CONTENTS

                                                                          Page

Section 1.     Certain Definitions  . . . . . . . . . . . . . . . . . . .    2

Section 2.     Appointment of Rights Agent  . . . . . . . . . . . . . . .    9

Section 3.     Issue of Right Certificates  . . . . . . . . . . . . . . .    9

Section 4.     Form of Right Certificates   . . . . . . . . . . . . . . .   12

Section 5.     Countersignature and Registration  . . . . . . . . . . . .   12

Section 6.     Transfer, Split Up, Combination and Exchange of Right
                 Certificates; Mutilated, Destroyed, Lost or Stolen
                 Right Certificates . . . . . . . . . . . . . . . . . . .   13

Section 7.     Exercise of Rights, Purchase Price; Expiration Date of
                 Rights . . . . . . . . . . . . . . . . . . . . . . . . .   14

Section 8.     Cancellation and Destruction of Right Certificates   . . .   17

Section 9.     Availability of Shares of Preferred Stock  . . . . . . . .   17

Section 10.    Preferred Stock Record Date  . . . . . . . . . . . . . . .   19

Section 11.    Adjustment of Purchase Price, Number of Shares and Number
                 of Rights  . . . . . . . . . . . . . . . . . . . . . . .   20

Section 12.    Certificate of Adjusted Purchase Price or Number of
                 Shares . . . . . . . . . . . . . . . . . . . . . . . . .   35

Section 13.    Consolidation, Merger or Sale or Transfer of Assets or
                 Earnings Power . . . . . . . . . . . . . . . . . . . . .   36

Section 14.    Fractional Rights and Fractional Shares  . . . . . . . . .   42

Section 15.    Rights of Action   . . . . . . . . . . . . . . . . . . . .   44

Section 16.    Agreement of Right Holders   . . . . . . . . . . . . . . .   45

Section 17.    Right Certificate Holder Not Deemed a Stockholder  . . . .   45

Section 18.    Concerning the Rights Agent  . . . . . . . . . . . . . . .   46

Section 19.    Merger or Consolidation or Change of Name of Rights
                 Agent. . . . . . . . . . . . . . . . . . . . . . . . . .    47

<PAGE>

Section 20.    Duties of Rights Agent   . . . . . . . . . . . . . . . . .   48

Section 21.    Change of Rights Agent   . . . . . . . . . . . . . . . . .   51

Section 22.    Issuance of New Right Certificates   . . . . . . . . . . .   53

Section 23.    Redemption   . . . . . . . . . . . . . . . . . . . . . . .   53

Section 24.    Exchange   . . . . . . . . . . . . . . . . . . . . . . . .   54

Section 25.    Notice of Certain Events   . . . . . . . . . . . . . . . .   56

Section 26.    Notices  . . . . . . . . . . . . . . . . . . . . . . . . .   57

Section 27.    Supplements and Amendments   . . . . . . . . . . . . . . .   58

Section 28.    Successors   . . . . . . . . . . . . . . . . . . . . . . .   59

Section 29.    Benefits of this Rights Agreement  . . . . . . . . . . . .   59

Section 30.    Determinations and Actions by the Board of Directors   . .   60

Section 31.    Severability   . . . . . . . . . . . . . . . . . . . . . .   60

Section 32.    Governing Law  . . . . . . . . . . . . . . . . . . . . . .   60

Section 33.    Counterparts   . . . . . . . . . . . . . . . . . . . . . .   61

Section 34.    Descriptive Headings   . . . . . . . . . . . . . . . . . .   61

                                    - ii -

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00015-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00015-of-00352.parquet"}]]