Document:

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                                                                     EXHIBIT 4.6

[LOGO OF HOARE GOVETT]

                                                    Hoare Govett Limited
                                                    250 Bishopsgate
                                                    London EC2M 4AA
                                                    Telephone +44(0)20 7678 8000
                                                    Facsimile +44(0)20 7678 1587

STRICTLY PRIVATE AND CONFIDENTIAL

                                                        TOTAL PLACING COMMITMENT
                                            ------------------------------------
                                                     Box A                 Box B
                                               Firm Shares     Open Offer Shares

                                                 4,864,371             5,135,629
                                            ------------------------------------
                                                                     29 May 2001

Richard Wilmot Esq
Newton
71 Queen Victoria Street
London
EC4V 4DR

For the attention of: Richard Wilmot

Dear Sirs

Bright Station plc (the "Company")
Placing of 270,000,000 new ordinary shares of 1p each ("New Ordinary Shares") on
behalf of the Company at 5p per share (the "Issue Price") (the "Placing")

We refer to our telephone conversation and to the recent presentation made by
the Company to you in connection with the above fund raising (the
"Presentation").

It is currently proposed that 270,000,000 New Ordinary Shares will be issued in
connection with a placing and open offer to raise (pound)13.5 million (gross).
Under the proposed open offer (the "Open Offer"), up to 138,661,969 of the New
Ordinary Shares will be offered to qualifying shareholders (the "Open Offer
Shares") at the Issue Price on the basis of 4 Open Offer Shares for every 5
existing Ordinary Shares held. Accordingly, the Open Offer Shares are being
conditionally placed with institutional investors by Hoare Govett as agent for
the Company, subject to clawback under the Open Offer, and the remaining
131,338,031 New Ordinary Shares are being placed firm (the "Firm Shares"). The
New Ordinary Shares will rank pari passu in all respects with the Company's
existing ordinary shares.

It is currently proposed that a circular comprising a prospectus will be
published by the Company containing further details of the Placing and Open
Offer and other proposals (see below) on or before 29 June 2001 ("Circular").
The Circular will contain a notice convening an extraordinary general meeting of
the Company to approve the Placing and Open Offer and related proposals ("EGM").
Application will also be made for the New Ordinary Shares to be admitted to
listing on the Official List of the UK Listing Authority ("UKLA") and to trading
on the London Stock Exchange's main market for listed securities ("Admission").
On the basis that the Circular is published by the above date, it is expected
that Admission will become effective by no later than 23 July 2001.
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[LOGO OF HOARE GOVETT]

In addition to the Placing and Open Offer, it is also proposed that:

(a)     other than Mr Lomnitz, all of the current Directors will resign on
        Admission (Mr Lomnitz will remain as an executive Director). Messrs
        Jefferies (Non-executive Chairman), Hill (Chief Executive Officer),
        Canham (Chief Financial Officer) and Bair (non-executive Director) will
        be appointed to the Company's Board on Admission;

(b)     the total "pool" of share options capable of being issued under the
        Company's share option schemes will be increased from 10 per cent. of
        the issued share capital from time to time to 15 per cent;

(c)     the Company closes its OfficeShopper and Sparza operations, trading now
        having ceased;

(d)     between the date of this letter and completion of the Placing and Open
        Offer, the Company may be required to secure a temporary credit line and
        or debt bridge facility, which may be provided by some or all of the
        existing directors, to provide cash liquidity pending completion of the
        Placing and Open Offer;

(e)     in connection with the termination of their arrangements with the
        Company and the cancellation of their outstanding share options, Dan
        Wagner and Dave Mattey will be entitled, subject to completion of the
        Placing and Open Offer, to certain payments from the Company amounting
        to (pound)220,580 and (pound)274,337 respectively, which amounts they
        have agreed will be applied in paying up such number of new Ordinary
        Shares in the Company as equals the amount of their respective payments
        divided by the Issue Price;

(f)     as of 31 March 2001, the Group had available cash resources of
        (pound)7.4 million ((pound)16.3 million at 31 December 2000). The
        Company announced on 2 May 2001 that they had available cash of
        (pound)2.9 million as at 30 April 2001.

(g)     The audit report for the year ended 31 December 2000, while unqualified,
        contains an explanatory paragraph making reference to a fundamental
        uncertainty concerning the going concern basis of preparation of the
        financial statements being dependent upon the successful conclusion of
        bridge funding and the Placing and Open Offer.

We have pleasure, as agent for the Company, in now offering you the number of
Firm Shares set out in Box A above and the number of Open Offer Shares set out
in Box B above, (together "Placing Commitment") (free of all expenses) at the
Issue Price subject to the terms and conditions in this letter and in the Form
of Confirmation and to the Money Laundering Regulations 1993. The Open Offer
Shares (but not the Firm Shares) will be subject to recall under the terms of
the Open Offer and the right is accordingly reserved to qualifying shareholders
to recall before the closing date for the Open Offer all or any of the Open
Offer Shares conditionally placed with you.

This letter, the terms of which are conditional (amongst other things) on a
draft press announcement ("Press Announcement") being released by the Company
confirming securing Placing Commitments of (pound)13.5 million, sets out the
basis on which you undertake to accept the Placing Commitment offered to you by
the Company (as set out above).

The Placing Commitments shall be made on the terms of this letter and any
additional terms and conditions as may be required to comply with the
requirements of the City Code on Takeovers and Mergers, the Financial Services
Authority acting in its capacity as the United Kingdom Listing Authority
("UKLA") and the London Stock Exchange.

                                       2
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[LOGO OF HOARE GOVETT]

You should note that the Placing and Open Offer is not being underwritten.

The Placing

The Circular is currently expected to be published by the Company no later than
29 June 2001. You are therefore making your decision whether or not to
participate In the Placing solely on the basis of the information contained in
the Presentation and in this letter. The Presentation may not have contained all
Information necessary for you to make an informed assessment of the Company and
its prospects. It is a term of your participation in the Placing that you accept
this fact. However, your participation in the Placing will be conditional on the
following:

(a)     an announcement in relation to the Placing and Open Offer and related
        proposals being made in accordance with the Listing Rules of the UKLA
        ("Listing Rules");

(b)     the Circular being published in accordance with the Financial Services
        Act 1986 ("FSA") and the Listing Rules and containing a working capital
        statement in accordance with 6.E.16 of the Listing Rules which is
        unqualified except as to Admission;

(c)     the Circular (a) complying with the Listing Rules and section 146 of the
        FSA and (b) in Hoare Govett's reasonable opinion being and remaining
        until Admission accurate and not misleading in any material respect;

(d)     In Hoare Govett's reasonable opinion, there being no information in or
        omissions from the Circular which, when taken as a whole, are materially
        inconsistent with the information or position contained in the
        Presentation;

(e)     the resolutions being passed at the EGM without amendment which Hoare
        Govett reasonably regards as material;

(f)     the resignation of all of the Company's Directors with effect from
        Admission (other than Mr Lomnitz who will remain as an executive
        director);

(g)     prior to Admission, so far as Hoare Govett is aware, no order having
        been made or resolution passed in respect of the Company or any of its
        material subsidiaries for its or their winding up or dissolution or for
        it or them to enter into any arrangement or composition for the benefit
        of creditors, or the appointment of a receiver, administrative receiver,
        trustee or similar officer;

(h)     commitments being received by the Company (or its duly appointed agents)
        pursuant to the Placing for (pound)13.5 million (gross);

(i)     Admission becoming effective by no later than 31 August 2001.

Hoare Govett and the Company reserve the right to agree and extend the time for
the satisfaction of any of the above conditions provided that such time may not
be extended beyond 31 August 2001. In that event, we will inform you at the
earliest opportunity and all subsequent dates mentioned in this letter will be
adjusted appropriately.

You agree that where a condition is expressed to be subject to Hoare Govett's
reasonable opinion:

(a)     Hoare Govett will exercise its opinion in its absolute discretion,
        having regard to the Placing and Open Offer as a whole, and not to
        placees' interests individually; and

                                       3
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[LOGO OF HOARE GOVETT]

(b)     provided that Hoare Govett exercises its discretion in good faith, it
        shall not incur any liability to you whatsoever.

By signing and returning the attached Form of Confirmation, you will confirm
your agreement with us, on the terms, and subject to the conditions, of this
letter and subject to the Memorandum and Articles of Association of the Company,
to subscribe under the Placing for the number of New Ordinary Shares set out in
Boxes A and B on page 1 of this letter at the Issue Price. Subject only to the
above conditions being satisfied or waived, your Placing Commitment will be
irrevocable.

Commissions

No commission will be payable to you in respect of your participation in the
Placing.

Hoare Govett will be paid a commission by the Company in relation to the Placing
equal to seven per cent. of the total funds raised under the Placing and Open
Offer. In order to retain cash within the Company and to align its interests
with those of institutional investors who are giving Placing Commitments, Hoare
Govett has agreed to take this commission principally in the form of equity at
the Issue Price provided that the total number of new Ordinary Shares received
by Hoare Govett shall be less than 3 per cent. of the then issued share capital
of the Company, with the remainder taken in cash.

Timetable

The date the Circular is posted will determine the timetable for the Open Offer
and EGM.

As soon as possible after the closing of the Open Offer, we will inform you of
the amount recalled by qualifying shareholders under the Open Offer and of the
number of Open Offer Shares and Firm Shares which are required to be taken up by
you ("Trade Confirmation"), together with the funds payment to be made.

Please note that ABN AMRO Equities (UK) Limited will act as our execution and
settlement agent. As such, all trades will be matched and settled with its CREST
Participant ID 590 (five nine zero). Trade confirmations will be issued by ABN
AMRO Equities (UK) Limited in the normal manner. Settlement will be free of all
charges, commissions and duties.

In the event that you have any queries in respect of settlement, please call
Rhys Thomas on 020 7678 7043 or Kevin Gant on 020 7678 0584.

Interest may be charged in respect of payments not received by us for value by
the required time referred to above at a rate equal to the London Inter-Bank
Offered Rate for seven day deposits in sterling plus five per cent. per annum as
determined by us.

In the event that the conditions are not fulfilled by 31 August 2001, the
Placing will not proceed and your rights and obligations under this letter shall
cease and determine. In such event, all funds delivered to us pursuant to this
letter will be returned to you by telegraphic transfer on your instructions or
by cheque.

Confirmations

By signing and returning the Form of Confirmation, you will be confirming that,
as a term of the acceptance of your Placing Commitment:

                                       4
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[LOGO OF HOARE GOVETT]

(a)     you have entered into this commitment solely on the basis of the
        information contained in the Presentation and this letter and you have
        not relied on any other representation or warranty in reaching your
        decision to acquire New Ordinary Shares under your Placing Commitment;

(b)     neither Hoare Govett nor the Companys sponsor, PricewaterhouseCoopers
        Corporate Finance, is acting for you in connection with the Placing and
        will not be responsible to you in respect of the Placing for providing
        protections afforded to their customers. In particular, you acknowledge
        that neither Hoare Govett nor PricewaterhouseCoopers Corporate Finance
        has made any recommendation to you in relation to the Placing and is not
        advising you with regard to the suitability or merits of the transaction
        or in connection with the arrangements set out in this letter. In
        addition, you acknowledge that you do not expect Hoare Govett or
        PricewaterhouseCoopers Corporate Finance to have any duties or
        responsibilities towards you similar or comparable to those imposed by
        The Securities and Futures Authority Limited's rules requiring "best
        execution", "suitability" and "risk warnings";

(c)     that you, or each person or body on whose behalf you accept your Placing
        Commitment (in whole or in part) or to whom you allocate such Placing
        Commitment (in whole or in part) has capacity and authority to enter
        into and perform the terms of such commitment and that you are entitled
        to accept your Placing Commitment under the laws of all relevant
        jurisdictions which apply to you, have complied and will fully comply
        with all such laws in relation to your Placing Commitment (including,
        where applicable, the Money Laundering Regulations 1993) and have
        obtained all governmental and other consents which may be required in
        relation to your Placing Commitment;

(f)     none of the New Ordinary Shares has been or will be registered under the
        Securities Act of 1933 of the United States (as amended) (the
        "Securities Act") or any of the relevant securities, laws of Canada or
        Australia and may not be offered, sold, taken up or delivered, directly
        or indirectly, into or within the United States except pursuant to an
        exemption from, or in transactions not subject to, the registration
        requirements of the Securities Act, and you represent, warrant and
        undertake that unless you are taking up New Ordinary Shares pursuant to
        such an exemption: (i) you are not within the United States, Canada,
        Japan or Australia and you are not a US person or a citizen of Canada,
        Japan or Australia; (ii) you have not offered, sold or delivered and
        will not offer, sell or deliver any of the New Ordinary Shares to
        persons within the United States, directly or indirectly, or into
        Canada, Japan or Australia; (iii) neither you, your affiliates, nor any
        persons acting on your behalf, have engaged or will engage in any
        directed selling efforts with respect to the New Ordinary Shares; (iv)
        you are not taking up the New Ordinary Shares for resale in or into the
        United States, Canada, Japan or Australia; and (v) you will not
        distribute any offering material, directly or indirectly, in or into the
        United States, Canada, Japan or Australia or to any persons resident in
        such countries. Terms and expressions used in this paragraph have the
        meanings given to them by Regulation S made under the Securities Act;

(g)     you will not procure the acquisition of any New Ordinary Shares by or
        for the account of any person with an address in Australia, Canada or
        Japan, you will not offer any New Ordinary Shares to any such person and
        you will not otherwise treat any New Ordinary Shares in any manner that
        would contravene any applicable Australian, Canadian, Japanese or other
        securities legislation;

(g)     you are a person who falls within paragraph 11(3) of the Financial
        Services Act 1986 (Investment Advertisements)(Exemptions) Order 1996 or
        of the kind described in Article 8(1) of the Financial Services Act 1986
        (Investment Advertisements)(Exemptions)(No.2) Order 1995;

(h)     all notices, remittances and documents of title are sent at your own
        risk;

                                       5
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[LOGO OF HOARE GOVETT]

(i)     that to the extent you are a shareholder in Bright Station Plc, you will
        vote in favour of the resolutions to be put forward at the EGM to effect
        the proposals (as contemplated);

(j)     Hoare Govett may at its absolute discretion refuse or scale back your
        application for a Placing Commitment by any amount it deems fit; and

(k)     that your remittance will be honoured on first presentation.

Without prejudice to any of the above undertakings, you agree that, to the
extent you are or become a distributor of New Ordinary Shares (including
underwriters, dealers and all other persons who receive remuneration in respect
of securities sold) during the "distribution compliance period" (as such term is
defined under Regulation S of the United States Securities Act of 1933 (as
amended)) you will make all offers and sales of New Ordinary Shares during the
"distribution compliance period" only in accordance with Regulation S or an
exemption under the United States Securities Act of 1933 (as amended) or
pursuant to an effective registration statement under the said act. In addition,
if you shall sell New Ordinary Shares to a distributor, dealer or a person
receiving a selling concession you shall procure the purchaser is subject to the
same restrictions on offers and sales that apply to you.

You agree that settlement, or a series of settlements, with an aggregate value
of (pound)8,500 or greater, settled by way of third party payments, for example,
bankers draft, building society cheque or a cheque drawn by someone other than
the placee, are liable to be subject to verification of identity requirements to
comply with the Money Laundering Regulations 1993. This may involve verification
of names and addresses through a reputable agency. By returning the Letter of
Confirmation, you undertake to provide such evidence of identity, within such
reasonable time (in each case to be determined at the discretion of Hoare
Govett) as may be requested to ensure compliance with the Money Laundering
Regulations 1993. If satisfactory evidence and identity has not been obtained
within a reasonable time, then such settlement will not proceed any further but
without prejudice to the rights of Hoare Govett or the Company to take
proceedings to recover any loss suffered by any of them as a result of failing
to provide satisfactory evidence. In such event the settlement monies (without
interest) will be returned to the bank or building society account from which
payment was made.

The presentation and any accompanying materials distributed by the Company were
directed solely at persons falling within certain exemptions to section 57 of
the Financial Services Act 1986 and it was not and is not intended that they
should be acted upon in any way by persons who do not have professional
experience in matters relating to investments and who do not fall within the
relevant exemptions.

Any forward looking statements, including any projections, contained in the
Presentation have not been commented or reported on by the Company's auditors
and accordingly may not necessarily be on a basis which is consistent with the
Company's accounting policies. Actual results may differ substantially from
figures used for planning purposes only and accordingly any such forward looking
projections or projections should not be relied on in any manner whatsoever.

Time is of the essence as regards obligations set out in this letter and the
Letter of Confirmation.

                                       6
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[LOGO OF HOARE GOVETT]

This letter, the enclosed Letter of Confirmation and any contract which has been
or may be entered into between you and the Company on the terms of or pursuant
to this letter will be governed by and construed in accordance with English Law
and you have agreed to submit to the exclusive jurisdiction of the English
courts as regards any claim, dispute or matter arising out of or relating to
such contract, this letter and/or the enclosed Letter of Confirmation.

Whether or not this allocation is to be split amongst several accounts, IT IS
IMPERATIVE THAT THE ENCLOSED FORM OF CONFIRMATION IS COMPLETED, SIGNED AND
RETURNED TO US (FOR THE ATTENTION OF KEVIN GANT) BY FACSIMILE (020 7678 1134) OR
BY HAND IN RESPECT OF YOUR TOTAL PLACING COMMITMENT NOT LATER THAN 5.00 P.M. on,
30 May 2001.

Yours faithfully

/s/ Andrew C Chapman

For and on behalf of
Hoare Govett Limited
Andrew C Chapman
Director -- Corporate Finance

                                       7
<PAGE>

[LOGO OF HOARE GOVETT]

                             FORM OF CONFIRMATION

Whether or not this allocation is to be split amongst several accounts, IT IS
IMPERATIVE THAT THIS FORM IS COMPLETED, SIGNED AND RETURNED TO US FOR THE
ATTENTION OF KEVIN GANT BY FACSIMILE (020 7678 1134) OR BY HAND IN RESPECT OF
THE TOTAL PLACING COMMITMENT SO AS TO BE RECEIVED BY US NOT LATER THAN 5:00 P.M.
ON 30 MAY 2001.

To:  Hoare Govett Limited                      Ref No.: ABN6
     199 Bishopsgate
     London EC2M 3XW

For the attention of Kevin Gant
-------------------------------

                                   ---------------------------------------------
                                               Box A                      Box B
                                         Firm Shares          Open Offer Shares

                                           4,864,371                   5,135,629
                                   ---------------------------------------------

Dear Sirs

Bright Station plc (the "Company")
Placing of 270,000,000 new ordinary shares of 1p each ("New Ordinary Shares") on
behalf of the Company at 5p per share (the "Issue Price")(the "Placing")

We hereby acknowledge receipt of your letter of 23 May 2001 (the "Placing
Letter"), the definitions contained in which shall apply in this Form of
Confirmation. We confirm that subject to and only on the basis of the terms and
conditions contained therein, we irrevocably agree to subscribe for the number
of New Ordinary Shares set out in Box A and in Box B (subject, in the case of
Box B, to clawback from qualifying shareholders).

This Form of Confirmation is binding upon receipt by you of this form.

We understand and accept the contents of the Placing Letter and in making this
confirmation give the acknowledgement and agreement required by that letter and
the confirmations required by the paragraph headed "Confirmations" in that
letter.

In the event of us/the funds managed or advised by us being required to take up
any New Ordinary Shares in respect of our/their Placing Commitment, we agree to
pay on demand the full amount due in respect of such participation in accordance
with the terms of the Placing Letter.

Signed: /s/ [ILLEGIBLE SIGNATURE]                        31st May, 2001
       ----------------------------------                --------

For and on behalf of NEWTON INVESTMENT MANAGEMENT LTD
                     --------------------------------

                                       8

<PAGE>

[LOGO OF HOARE GOVETT]                              Hoare Govett Limited
                                                    250 Bishopsgate
                                                    London EC2M 4AA
                                                    Telephone +44(0)20 7678 8000
                                                    Facsimile +44(0)20 7678 1587

STRICTLY PRIVATE AND CONFIDENTIAL

                                                        TOTAL PLACING COMMITMENT
                                        ----------------------------------------
                                                     Box A                 Box B
                                               Firm Shares     Open Offer Shares

                                                24,321,858            25,678,142
                                        ----------------------------------------

                                                                     29 May 2001

Robert Olive Esq
Fidelity
25 Cannon Street
London
EC4M 5TA

For the attention of: Robert Olive

Dear Sirs

Bright Station plc (the "Company")
Placing of 270,000,000 new ordinary shares of 1p each ("New Ordinary Shares") on
behalf of the Company at 5p per share (the "Issue Price") (the "Placing")

We refer to our telephone conversation and to the recent presentation made by
the Company to you in connection with the above fund raising (the
"Presentation").

It is currently proposed that 270,000,000 New Ordinary Shares will be issued in
connection with a placing and open offer to raise (pound)13.5 million (gross).
Under the proposed open offer (the "Open Offer"), up to 138,661,969 of the New
Ordinary Shares will be offered to qualifying shareholders (the "Open Offer
Shares") at the Issue Price on the basis of 4 Open Offer Shares for every 5
existing Ordinary Shares held. Accordingly, the Open Offer Shares are being
conditionally placed with institutional investors by Hoare Govett as agent for
the Company, subject to clawback under the Open Offer, and the remaining
131,338,031 New Ordinary Shares are being placed firm (the "Firm Shares"). The
New Ordinary Shares will rank pari passu in all respects with the Company's
existing ordinary shares.

It is currently proposed that a circular comprising a prospectus will be
published by the Company containing further details of the Placing and Open
Offer and other proposals (see below) on or before 29 June 2001 ("Circular").
The Circular will contain a notice convening an extraordinary general meeting of
the Company to approve the Placing and Open Offer and related proposals ("EGM").
Application will also be made for the New Ordinary Shares to be admitted to
listing on the Official List of the UK Listing Authority ("UKLA") and to trading
on the London Stock Exchange's main market for listed securities ("Admission").
On the basis that the Circular is published by the above date, it is expected
that Admission will become effective by no later than 23 July 2001.

               Regulated by the Securities and Futures Authority
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[LOGO OF HOARE GOVETT]

Member of ABN AMRO Group

In addition to the Placing and Open Offer, it is also proposed that:

(a)     other than Mr Lomnitz, all of the current Directors will resign on
        Admission (Mr Lomnitz will remain as an executive Director). Messrs
        Jefferies (Non-executive Chairman), Hill (Chief Executive Officer),
        Canham (Chief Financial Officer) and Bair (non-executive Director) will
        be appointed to the Company's Board on Admission;

(b)     the total "pool" of share options capable of being issued under the
        Company's share option schemes will be increased from 10 per cent. of
        the issued share capital from time to time to 15 per cent;

(c)     the Company closes its OfficeShopper and Sparza operations, trading now
        having ceased;

(d)     between the date of this letter and completion of the Placing and Open
        Offer, the Company may be required to secure a temporary credit line and
        or debt bridge facility, which may be provided by some or all of the
        existing directors, to provide cash liquidity pending completion of the
        Placing and Open Offer;

(e)     in connection with the termination of their arrangements with the
        Company and the cancellation of their outstanding share options, Dan
        Wagner and Dave Mattey will be entitled, subject to completion of the
        Placing and Open Offer, to certain payments from the Company amounting
        to (pound)220,580 and (pound)274,337 respectively, which amounts they
        have agreed will be applied in paying up such number of new Ordinary
        Shares in the Company as equals the amount of their respective payments
        divided by the Issue Price;

(f)     as of 31 March 2001, the Group had available cash resources of
        (pound)7.4 million ((pound)16.3 million at 31 December 2000). The
        Company announced on 2 May 2001 that they had available cash of
        (pound)2.9 million as at 30 April 2001.

(g)     The audit report for the year ended 31 December 2000, while unqualified,
        contains an explanatory paragraph making reference to a fundamental
        uncertainty concerning the going concern basis of preparation of the
        financial statements being dependent upon the successful conclusion of
        bridge funding and the Placing and Open Offer.

We have pleasure, as agent for the Company, in now offering you the number of
Firm Shares set out in Box A above and the number of Open Offer Shares set out
in Box B above, (together "Placing Commitment") (free of all expenses) at the
Issue Price subject to the terms and conditions in this letter and in the Form
of Confirmation and to the Money Laundering Regulations 1993. The Open Offer
Shares (but not the Firm Shares) will be subject to recall under the terms of
the Open Offer and the right is accordingly reserved to qualifying shareholders
to recall before the closing date for the Open Offer all or any of the Open
Offer Shares conditionally placed with you.

This letter, the terms of which are conditional (amongst other things) on a
draft press announcement ("Press Announcement") being released by the Company
confirming securing Placing Commitments of (pound)13.5 million, sets out the
basis on which you undertake to accept the Placing Commitment offered to you by
the Company (as set out above).

The Placing Commitments shall be made on the terms of this letter and any
additional terms and conditions as may be required to comply with the
requirements of the City Code on Takeovers and Mergers, the Financial Services
Authority acting in its capacity as the United Kingdom Listing Authority
("UKLA") and the London Stock Exchange.

                                       2
<PAGE>

[LOGO OF HOARE GOVETT]

You should note that the Placing and Open Offer is not being underwritten.

The Placing

The Circular is currently expected to be published by the Company no later than
29 June 2001. You are therefore making your decision whether or not to
participate in the Placing solely on the basis of the information contained in
the Presentation and in this letter. The Presentation may not have contained all
information necessary for you to make an informed assessment of the Company and
its prospects. It is a term of your participation in the Placing that you accept
this fact. However, your participation in the Placing will be conditional on the
following:

(a)     an announcement in relation to the Placing and Open Offer and related
        proposals being made in accordance with the Listing Rules of the UKLA
        ("Listing Rules");

(b)     the Circular being published in accordance with the Financial Services
        Act 1986 ("FSA") and the Listing Rules and containing a working capital
        statement in accordance with 6.E.16 of the Listing Rules which is
        unqualified except as to Admission;

(c)     the Circular (a) complying with the Listing Rules and section 146 of the
        FSA and (b) in Hoare Govett's reasonable opinion being and remaining
        until Admission accurate and not misleading in any material respect;

(d)     In Hoare Govett's reasonable opinion, there being no information in or
        omissions from the Circular which, when taken as a whole, are materially
        inconsistent with the information or position contained in the
        Presentation;

(e)     the resolutions being passed at the EGM without amendment which Hoare
        Govett reasonably regards as material;

(f)     the resignation of all of the Company's Directors with effect from
        Admission (other than Mr Lomnitz who will remain as an executive
        director);

(g)     prior to Admission, so far as Hoare Govett is aware, no order having
        been made or resolution passed in respect of the Company or any of its
        material subsidiaries for its or their winding up or dissolution or for
        it or them to enter into any arrangement or composition for the benefit
        of creditors, or the appointment of a receiver, administrative receiver,
        trustee or similar officer;

(h)     commitments being received by the Company (or its duly appointed agents)
        pursuant to the Placing for (pound)13.5 million (gross);

(i)     Admission becoming effective by no later than 31 August 2001.

Hoare Govett and the Company reserve the right to agree and extend the time for
the satisfaction of any of the above conditions provided that such time may not
be extended beyond 31 August 2001. In that event, we will inform you at the
earliest opportunity and all subsequent dates mentioned in this letter will be
adjusted appropriately.

You agree that where a condition is expressed to be subject to Hoare Govett's
reasonable opinion:

(a)     Hoare Govett will exercise its opinion in its absolute discretion,
        having regard to the Placing and Open Offer as a whole, and not to
        placees' interests individually; and

                                       3

<PAGE>

[LOGO OF HOARE GOVETT]

(b)     provided that Hoare Govett exercises its discretion in good faith, it
        shall not incur any liability to you whatsoever.

By signing and returning the attached Form of Confirmation, you will confirm
your agreement with us, on the terms, and subject to the conditions, of this
letter and subject to the Memorandum and Articles of Association of the Company,
to subscribe under the Placing for the number of New Ordinary Shares set out in
Boxes A and B on page 1 of this letter at the Issue Price. Subject only to the
above conditions being satisfied or waived, your Placing Commitment will be
irrevocable.

Commissions

No commission will be payable to you in respect of your participation in the
Placing.

Hoare Govett will be paid a commission by the Company in relation to the Placing
equal to seven per cent. of the total funds raised under the Placing and Open
Offer. In order to retain cash within the Company and to align its interests
with those of institutional investors who are giving Placing Commitments, Hoare
Govett has agreed to take this commission principally in the form of equity at
the Issue Price provided that the total number of new Ordinary Shares received
by Hoare Govett shall be less than 3 per cent. of the then issued share capital
of the Company, with the remainder taken in cash.

Timetable

The date the Circular is posted will determine the timetable for the Open Offer
and EGM.

As soon as possible after the closing of the Open Offer, we will inform you of
the amount recalled by qualifying shareholders under the Open Offer and of the
number of Open Offer Shares and Firm Shares which are required to be taken up by
you ("Trade Confirmation"), together with the funds payment to be made.

Please note that ABN AMRO Equities (UK) Limited will act as our execution and
settlement agent. As such, all trades will be matched and settled with its CREST
Participant ID 590 (five nine zero). Trade confirmations will be issued by ABN
AMRO Equities (UK) Limited in the normal manner. Settlement will be free of all
charges, commissions and duties.

In the event that you have any queries in respect of settlement, please call
Rhys Thomas on 020 7678 7043 or Kevin Gant on 020 7678 0584.

Interest may be charged in respect of payments not received by us for value by
the required time referred to above at a rate equal to the London Inter-Bank
Offered Rate for seven day deposits in sterling plus five per cent. per annum as
determined by us.

In the event that the conditions are not fulfilled by 31 August 2001, the
Placing will not proceed and your rights and obligations under this letter shall
cease and determine. In such event, all funds delivered to us pursuant to this
letter will be returned to you by telegraphic transfer on your instructions or
by cheque.

Confirmations

By signing and returning the Form of Confirmation, you will be confirming that,
as a term of the acceptance of your Placing Commitment:

                                       4
<PAGE>

[LOGO OF HOARE GOVETT]

Member of ABN AMRO Group

(a)     you have entered into this commitment solely on the basis of the
        information contained in the Presentation and this letter and you have
        not relied on any other representation or warranty in reaching your
        decision to acquire New Ordinary Shares under your Placing Commitment;

(b)     neither Hoare Govett nor the Company's sponsor, PricewaterhouseCoopers
        Corporate Finance, is acting for you in connection with the Placing and
        will not be responsible to you in respect of the Placing for providing
        protections afforded to their customers. In particular, you acknowledge
        that neither Hoare Govett nor PricewaterhouseCoopers Corporate Finance
        has made any recommendation to you in relation to the Placing and is not
        advising you with regard to the suitability or merits of the transaction
        or in connection with the arrangements set out in this letter. In
        addition, you acknowledge that you do not expect Hoare Govett or
        PricewaterhouseCoopers Corporate Finance to have any duties or
        responsibilities towards you similar or comparable to those imposed by
        The Securities and Futures Authority Limited's rules requiring "best
        execution", "suitability" and "risk warnings";

(c)     that you, or each person or body on whose behalf you accept your Placing
        Commitment (in whole or in part) or to whom you allocate such Placing
        Commitment (in whole or in part) has capacity and authority to enter
        into and perform the terms of such commitment and that you are entitled
        to accept your Placing Commitment under the laws of all relevant
        jurisdictions which apply to you, have complied and will fully comply
        with all such laws in relation to your Placing Commitment (including,
        where applicable, the Money Laundering Regulations 1993) and have
        obtained all governmental and other consents which may be required in
        relation to your Placing Commitment;

(f)     none of the New Ordinary Shares has been or will be registered under the
        Securities Act of 1933 of the United States (as amended) (the
        "Securities Act") or any of the relevant securities, laws of Canada or
        Australia and may not be offered, sold, taken up or delivered, directly
        or indirectly, into or within the United States except pursuant to an
        exemption from, or in transactions not subject to, the registration
        requirements of the Securities Act, and you represent, warrant and
        undertake that unless you are taking up New Ordinary Shares pursuant to
        such an exemption: (i) you are not within the United States, Canada,
        Japan or Australia and you are not a US person or a citizen of Canada,
        Japan or Australia; (ii) you have not offered, sold or delivered and
        will not offer, sell or deliver any of the New Ordinary Shares to
        persons within the United States, directly or indirectly, or into
        Canada, Japan or Australia; (iii) neither you, your affiliates, nor any
        persons acting on your behalf, have engaged or will engage in any
        directed selling efforts with respect to the New Ordinary Shares; (iv)
        you are not taking up the New Ordinary Shares for resale in or into the
        United States, Canada, Japan or Australia; and (v) you will not
        distribute any offering material, directly or indirectly, in or into the
        United States, Canada, Japan or Australia or to any persons resident in
        such countries. Terms and expressions used in this paragraph have the
        meanings given to them by Regulation S made under the Securities Act;

(g)     you will not procure the acquisition of any New Ordinary Shares by or
        for the account of any person with an address in Australia, Canada or
        Japan, you will not offer any New Ordinary Shares to any such person and
        you will not otherwise treat any New Ordinary Shares in any manner that
        would contravene any applicable Australian, Canadian, Japanese or other
        securities legislation;

(g)     you are a person who falls within paragraph 11(3) of the Financial
        Services Act 1986 (Investment Advertisements)(Exemptions) Order 1996 or
        of the kind described in Article 8(1) of the Financial Services Act 1986
        (Investment Advertisements)(Exemptions)(No.2) Order 1995;

(h)     all notices, remittances and documents of title are sent at your own
        risk;

                                       5
<PAGE>

[LOGO OF HOARE GOVETT}

(i)     that to the extent you are a shareholder in Bright Station Plc, you will
        vote in favour of the resolutions to be put forward at the EGM to effect
        the proposals (as contemplated);

(j)     Hoare Govett may at its absolute discretion refuse or scale back your
        application for a Placing Commitment by any amount it deems fit; and

(k)     that your remittance will be honoured on first presentation.

Without prejudice to any of the above undertakings, you agree that, to the
extent you are or become a distributor of New Ordinary Shares (including
underwriters, dealers and all other persons who receive remuneration in respect
of securities sold) during the "distribution compliance period" (as such term is
defined under Regulation S of the United States Securities Act of 1933 (as
amended)) you will make all offers and sales of New Ordinary Shares during the
"distribution compliance period" only in accordance with Regulation S or an
exemption under the United States Securities Act of 1933 (as amended) or
pursuant to an effective registration statement under the said act. In addition,
if you shall sell New Ordinary Shares to a distributor, dealer or a person
receiving a selling concession you shall procure the purchaser is subject to the
same restrictions on offers and sales that apply to you.

You agree that settlement, or a series of settlements, with an aggregate value
of (pound)8,500 or greater, settled by way of third party payments, for example,
bankers draft, building society cheque or a cheque drawn by someone other than
the placee, are liable to be subject to verification of identity requirements to
comply with the Money Laundering Regulations 1993. This may involve verification
of names and addresses through a reputable agency. By returning the Letter of
Confirmation, you undertake to provide such evidence of identity, within such
reasonable time (in each case to be determined at the discretion of Hoare
Govett) as may be requested to ensure compliance with the Money Laundering
Regulations 1993. If satisfactory evidence and identity has not been obtained
within a reasonable time, then such settlement will not proceed any further but
without prejudice to the rights of Hoare Govett or the Company to take
proceedings to recover any loss suffered by any of them as a result of failing
to provide satisfactory evidence. In such event the settlement monies (without
interest) will be returned to the bank or building society account from which
payment was made.

The presentation and any accompanying materials distributed by the Company were
directed solely at persons falling within certain exemptions to section 57 of
the Financial Services Act 1986 and it was not and is not intended that they
should be acted upon in any way by persons who do not have professional
experience in matters relating to investments and who do not fall within the
relevant exemptions.

Any forward looking statements, including any projections, contained in the
Presentation have not been commented or reported on by the Company's auditors
and accordingly may not necessarily be on a basis which is consistent with the
Company's accounting policies. Actual results may differ substantially from
figures used for planning purposes only and accordingly any such forward looking
projections or projections should not be relied on in any manner whatsoever.

Time is of the essence as regards obligations set out in this letter and the
Letter of Confirmation.

                                       6
<PAGE>

[LOGO OF HOARE GOVETT]

This letter, the enclosed Letter of Confirmation and any contract which has been
or may be entered into between you and the Company on the terms of or pursuant
to this letter will be governed by and construed in accordance with English Law
and you have agreed to submit to the exclusive jurisdiction of the English
courts as regards any claim, dispute or matter arising out of or relating to
such contract, this letter and/or the enclosed Letter of Confirmation.

Whether or not this allocation is to be split amongst several accounts, IT IS
IMPERATIVE THAT THE ENCLOSED FORM OF CONFIRMATION IS COMPLETED, SIGNED AND
RETURNED TO US (FOR THE ATTENTION OF KEVIN GANT) BY FACSIMILE (020 7678 1134) OR
BY HAND IN RESPECT OF YOUR TOTAL PLACING COMMITMENT NOT LATER THAN 5.00 P.M. on,
30 May 2001.

Yours faithfully

/s/ ILLEGIBLE SIGNATURE

For and on behalf of
Hoare Govett Limited
Andrew C Chapman
Director -- Corporate Finance

                                       7
<PAGE>

[LOGO OF HOARE GOVETT]

                             FORM OF CONFIRMATION

Whether or not this allocation is to be split amongst several accounts, IT IS
IMPERATIVE THAT THIS FORM IS COMPLETED, SIGNED AND RETURNED TO US FOR THE
ATTENTION OF KEVIN GANT BY FACSIMILE (020 7678 1134) OR BY HAND IN RESPECT OF
THE TOTAL PLACING COMMITMENT SO AS TO BE RECEIVED BY US NOT LATER THAN 5:00 P.M.
ON 30 MAY 2001.

To:  Hoare Govett Limited                      Ref No.: ABN2
     199 Bishopsgate
     London EC2M 3XW

For the attention of Kevin Gant
-------------------------------

                                   ---------------------------------------------
                                               Box A                      Box B
                                         Firm Shares          Open Offer Shares

                                          24,321,858                  25,678,142
                                   ---------------------------------------------

Dear Sirs

Bright Station plc (the "Company")
Placing of 270,000,000 new ordinary shares of 1p each ("New Ordinary Shares") on
behalf of the Company at 5p per share (the "Issue Price") (the "Placing")

We hereby acknowledge receipt of your letter of 29 May 2001 (the "Placing
Letter"), the definitions contained in which shall apply in this Form of
Confirmation. We confirm that subject to and only on the basis of the terms and
conditions contained therein, we irrevocably agree to subscribe for the number
of New Ordinary Shares set out in Box A and in Box B (subject, in the case of
Box B, to clawback from qualifying shareholders).

This Form of Confirmation is binding upon receipt by you of this form.

We understand and accept the contents of the Placing Letter and in making this
confirmation give the acknowledgement and agreement required by that letter and
the confirmations required by the paragraph headed "Confirmations" in that
letter.

In the event of us/the funds managed or advised by us being required to take up
any New Ordinary Shares in respect of our/their Placing Commitment, we agree to
pay on demand the full amount due in respect of such participation in accordance
with the terms of the Placing Letter.

Signed: /s/ [ILLEGIBLE SIGNATURE]                      30th May  , 2001
       ----------------------------------              ----------

For and on behalf of FIDELITY INVESTMENT SERVICES LIMITED
                     ------------------------------------

                                       8

<PAGE>

[LOGO OF HOARE GOVETT]

                                                    Hoare Govett Limited
                                                    250 Bishopsgate
                                                    London EC2M 4AA
                                                    Telephone +44(0)20 7678 8000
                                                    Facsimile +44(0)20 7678 1587

STRICTLY PRIVATE AND CONFIDENTIAL

                                                        TOTAL PLACING COMMITMENT
                                        ----------------------------------------
                                                     Box A                 Box B
                                               Firm Shares     Open Offer Shares

                                                 4,864,371             5,135,629
                                        ----------------------------------------

                                                                     29 May 2001

Andy Crossley Esq
Invesco
11 Devonshire Square
London
EC2M 4YR

For the attention of: Andy Crossley

Dear Sirs

Bright Station plc (the "Company")
Placing of 270,000,000 new ordinary shares of 1p each ("New Ordinary Shares") on
behalf of the Company at 5p per share (the "Issue Price") (the "Placing")

We refer to our telephone conversation and to the recent presentation made by
the Company to you in connection with the above fund raising (the
"Presentation").

It is currently proposed that 270,000,000 New Ordinary Shares will be issued in
connection with a placing and open offer to raise (pound)13.5 million (gross).
Under the proposed open offer (the "Open Offer"), up to 138,661,969 of the New
Ordinary Shares will be offered to qualifying shareholders (the "Open Offer
Shares") at the Issue Price on the basis of 4 Open Offer Shares for every 5
existing Ordinary Shares held. Accordingly, the Open Offer Shares are being
conditionally placed with institutional investors by Hoare Govett as agent for
the Company, subject to clawback under the Open Offer, and the remaining
131,338,031 New Ordinary Shares are being placed firm (the "Firm Shares"). The
New Ordinary Shares will rank pari passu in all respects with the Company's
existing ordinary shares.

It is currently proposed that a circular comprising a prospectus will be
published by the Company containing further details of the Placing and Open
Offer and other proposals (see below) on or before 29 June 2001 ("Circular").
The Circular will contain a notice convening an extraordinary general meeting of
the Company to approve the Placing and Open Offer and related proposals ("EGM").
Application will also be made for the New Ordinary Shares to be admitted to
listing on the Official List of the UK Listing Authority ("UKLA") and to trading
on the London Stock Exchange's main market for listed securities ("Admission").
On the basis that the Circular is published by the above date, it is expected
that Admission will become effective by no later than 23 July 2001.

<PAGE>

[LOGO OF HOARE GOVETT]

In addition to the Placing and Open Offer, it is also proposed that:

(a)     other than Mr Lomnitz, all of the current Directors will resign on
        Admission (Mr Lomnitz will remain as an executive Director). Messrs
        Jefferies (Non-executive Chairman), Hill (Chief Executive Officer),
        Canham (Chief Financial Officer) and Bair (non-executive Director) will
        be appointed to the Company's Board on Admission;

(b)     the total "pool" of share options capable of being issued under the
        Company's share option schemes will be increased from 10 per cent, of
        the issued share capital from time to time to 15 per cent;

(c)     the Company closes its OfficeShopper and Sparza operations, trading now
        having ceased;

(d)     between the date of this letter and completion of the Placing and Open
        Offer, the Company may be required to secure a temporary credit line and
        or debt bridge facility, which may be provided by some or all of the
        existing directors, to provide cash liquidity pending completion of the
        Placing and Open Offer;

(e)     in connection with the termination of their arrangements with the
        Company and the cancellation of their outstanding share options, Dan
        Wagner and Dave Mattey will be entitled, subject to completion of the
        Placing and Open Offer, to certain payments from the Company amounting
        to (pound)220,580 and (pound)274,337 respectively, which amounts they
        have agreed will be applied in paying up such number of new Ordinary
        Shares in the Company as equals the amount of their respective payments
        divided by the Issue Price;

(f)     as of 31 March 2001, the Group had available cash resources of
        (pound)7.4 million ((pound)16.3 million at 31 December 2000). The
        Company announced on 2 May 2001 that they had available cash of
        (pound)2.9 million as at 30 April 2001.

(g)     The audit report for the year ended 31 December 2000, while unqualified,
        contains an explanatory paragraph making reference to a fundamental
        uncertainty concerning the going concern basis of preparation of the
        financial statements being dependent upon the successful conclusion of
        bridge funding and the Placing and Open Offer.

We have pleasure, as agent for the Company, in now offering you the number of
Firm Shares set out in Box A above and the number of Open Offer Shares set out
in Box B above, (together "Placing Commitment") (free of all expenses) at the
Issue Price subject to the terms and conditions in this letter and in the Form
of Confirmation and to the Money Laundering Regulations 1993. The Open Offer
Shares (but not the Firm Shares) will be subject to recall under the terms of
the Open Offer and the right is accordingly reserved to qualifying shareholders
to recall before the closing date for the Open Offer all or any of the Open
Offer Shares conditionally placed with you.

This letter, the terms of which are conditional (amongst other things) on a
draft press announcement ("Press Announcement") being released by the Company
confirming securing Placing Commitments of (pound)13.5 million, sets out the
basis on which you undertake to accept the Placing Commitment offered to you by
the Company (as set out above).

The Placing Commitments shall be made on the terms of this letter and any
additional terms and conditions as may be required to comply with the
requirements of the City Code on Takeovers and Mergers, the Financial Services
Authority acting in its capacity as the United Kingdom Listing Authority
("UKLA") and the London Stock Exchange.

                                       2
<PAGE>

[LOGO OF HOARE GOVETT]

You should note that the Placing and Open Offer is not being underwritten.

The Placing

The Circular is currently expected to be published by the Company no later than
29 June 2001. You are therefore making your decision whether or not to
participate in the Placing solely on the basis of the information contained in
the Presentation and in this letter. The Presentation may not have contained all
information necessary for you to make an informed assessment of the Company and
its prospects. It is a term of your participation in the Placing that you accept
this fact. However, your participation in the Placing will be conditional on the
following:

(a)     an announcement in relation to the Placing and Open Offer and related
        proposals being made in accordance with the Listing Rules of the UKLA
        ("Listing Rules");

(b)     the Circular being published in accordance with the Financial Services
        Act 1986 ("FSA") and the Listing Rules and containing a working capital
        statement in accordance with 6.E.16 of the Listing Rules which is
        unqualified except as to Admission;

(c)     the Circular (a) complying with the Listing Rules and section 146 of the
        FSA and (b) in Hoare Govett's reasonable opinion being and remaining
        until Admission accurate and not misleading in any material respect;

(d)     In Hoare Govett's reasonable opinion, there being no information in or
        omissions from the Circular which, when taken as a whole, are materially
        inconsistent with the information or position contained in the
        Presentation;

(e)     the resolutions being passed at the EGM without amendment which Hoare
        Govett reasonably regards as material;

(f)     the resignation of all of the Company's Directors with effect from
        Admission (other than Mr Lomnitz who will remain as an executive
        director);

(g)     prior to Admission, so far as Hoare Govett is aware, no order having
        been made or resolution passed in respect of the Company or any of its
        material subsidiaries for its or their winding up or dissolution or for
        it or them to enter into any arrangement or composition for the benefit
        of creditors, or the appointment of a receiver, administrative receiver,
        trustee or similar officer;

(h)     commitments being received by the Company (or its duly appointed agents)
        pursuant to the Placing for (pound)13.5 million (gross);

(i)     Admission becoming effective by no later than 31 August 2001.

Hoare Govett and the Company reserve the right to agree and extend the time for
the satisfaction of any of the above conditions provided that such time may not
be extended beyond 31 August 2001. In that event, we will inform you at the
earliest opportunity and all subsequent dates mentioned in this letter will be
adjusted appropriately.

You agree that where a condition is expressed to be subject to Hoare Govett's
reasonable opinion:

(a)     Hoare Govett will exercise its opinion in its absolute discretion,
        having regard to the Placing and Open Offer as a whole, and not to
        placee's interests individually; and

                                       3
<PAGE>

[LOGO OF HOARE GOVETT]

(b)     provided that Hoare Govett exercises its discretion in good faith, it
        shall not incur any liability to you whatsoever.

By signing and returning the attached Form of Confirmation, you will confirm
your agreement with us, on the terms, and subject to the conditions, of this
letter and subject to the Memorandum and Articles of Association of the Company,
to subscribe under the Placing for the number of New Ordinary Shares set out in
Boxes A and B on page 1 of this letter at the Issue Price. Subject only to the
above conditions being satisfied or waived, your Placing Commitment will be
irrevocable.

CommissIons

No commission will be payable to you in respect of your participation in the
Placing.

Hoare Govett will be paid a commission by the Company in relation to the Placing
equal to seven per cent. of the total funds raised under the Placing and Open
Offer. In order to retain cash within the Company and to align its interests
with those of institutional investors who are giving Placing Commitments, Hoare
Govett has agreed to take this commission principalLy in the form of equity at
the Issue Price provided that the total number of new Ordinary Shares received
by Hoare Govett shall be less than 3 per cent. of the then issued share capital
of the Company, with the remainder taken in cash.

Timetable

The date the Circular is posted will determine the timetable for the Open Offer
and EGM.

As soon as possible after the closing of the Open Offer, we will inform you of
the amount recalled by qualifying shareholders under the Open Offer and of the
number of Open Offer Shares and Firm Shares which are required to be taken up by
you ("Trade Confirmation"), together with the funds payment to be made.

Please note that ABN AMRO Equities (UK) Limited will act as our execution and
settlement agent. As such, all trades will be matched and settled with its CREST
Participant ID 590 (five nine zero). Trade confirmations will be issued by ABN
AMRO Equities (UK) Limited in the normal manner. Settlement will be free of all
charges, commissions and duties.

In the event that you have any queries in respect of settlement, please call
Rhys Thomas on 020 7678 7043 or Kevin Gant on 020 7678 0584.

Interest may be charged in respect of payments not received by us for value by
the required time referred to above at a rate equal to the London Inter-Bank
Offered Rate for seven day deposits in sterling plus five per cent. per annum as
determined by us.

In the event that the conditions are not fulfilled by 31 August 2001, the
Placing will not proceed and your rights and obligations under this letter shall
cease and determine. In such event, all funds delivered to us pursuant to this
letter will be returned to you by telegraphic transfer on your instructions or
by cheque.

Confirmations

By signing and returning the Form of Confirmation, you will be confirming that,
as a term of the acceptance of your Placing Commitment:

                                       4
<PAGE>

[LOGO OF HOARE GOVETT]

(a)     you have entered into this commitment solely on the basis of the
        information contained in the Presentation and this letter and you have
        not relied on any other representation or warranty in reaching your
        decision to acquire New Ordinary Shares under your Placing Commitment;

(b)     neither Hoare Govett nor the Company's sponsor, PricewaterhouseCoopers
        Corporate Finance, is acting for you in connection with the Placing and
        will not be responsible to you in respect of the Placing for providing
        protections afforded to their customers. In particular, you acknowledge
        that neither Hoare Govett nor PricewaterhouseCoopers Corporate Finance
        has made any recommendation to you in relation to the Placing and is not
        advising you with regard to the suitability or merits of the transaction
        or in connection with the arrangements set out in this letter. In
        addition, you acknowledge that you do not expect Hoare Govett or
        PricewaterhouseCoopers Corporate Finance to have any duties or
        responsibilities towards you similar or comparable to those imposed by
        The Securities and Futures Authority Limited's rules requiring "best
        execution", "suitability" and "risk warnings";

(c)     that you, or each person or body on whose behalf you accept your Placing
        Commitment (in whole or in part) or to whom you allocate such Placing
        Commitment (in whole or in part) has capacity and authority to enter
        into and perform the terms of such commitment and that you are entitled
        to accept your Placing Commitment under the laws of all relevant
        jurisdictions which apply to you, have complied and will fully comply
        with all such laws in relation to your Placing Commitment (including,
        where applicable, the Money Laundering Regulations 1993) and have
        obtained all governmental and other consents which may be required in
        relation to your Placing Commitment;

(f)     none of the New Ordinary Shares has been or will be registered under the
        Securities Act of 1933 of the United States (as amended) (the
        "Securities Act") or any of the relevant securities, laws of Canada or
        Australia and may not be offered, sold, taken up or delivered, directly
        or indirectly, into or within the United States except pursuant to an
        exemption from, or in transactions not subject to, the registration
        requirements of the Securities Act, and you represent, warrant and
        undertake that unless you are taking up New Ordinary Shares pursuant to
        such an exemption: (i) you are not within the United States, Canada,
        Japan or Australia and you are not a US person or a citizen of Canada,
        Japan or Australia; (ii) you have not offered, sold or delivered and
        will not offer, sell or deliver any of the New Ordinary Shares to
        persons within the United States, directly or indirectly, or into
        Canada, Japan or Australia; (iii) neither you, your affiliates, nor any
        persons acting on your behalf, have engaged or will engage in any
        directed selling efforts with respect to the New Ordinary Shares; (iv)
        you are not taking up the New Ordinary Shares for resale in or into the
        United States, Canada, Japan or Australia; and (v) you will not
        distribute any offering material, directly or indirectly, in or into the
        United States, Canada, Japan or Australia or to any persons resident in
        such countries. Terms and expressions used in this paragraph have the
        meanings given to them by Regulation S made under the Securities Act;

(g)     you will not procure the acquisition of any New Ordinary Shares by or
        for the account of any person with an address in Australia, Canada or
        Japan, you will not offer any New Ordinary Shares to any such person and
        you will not otherwise treat any New Ordinary Shares in any manner that
        would contravene any applicable Australian, Canadian, Japanese or other
        securities legislation;

(g)     you are a person who falls within paragraph 11(3) of the Financial
        Services Act 1986 (Investment Advertisements)(Exemptions) Order 1996 or
        of the kind described in Article 8(1) of the Financial Services Act 1986
        (Investment Advertisements)(Exemptions)(No.2) Order 1995;

(h)     all notices, remittances and documents of title are sent at your own
        risk;

                                       5
<PAGE>

[LOGO OF HOARE GOVETT]

(i)     that to the extent you are a shareholder in Bright Station Plc, you will
        vote in favour of the resolutions to be put forward at the EGM to effect
        the proposals (as contemplated);

(j)     Hoare Govett may at its absolute discretion refuse or scale back your
        application for a Placing Commitment by any amount it deems fit; and

(k)     that your remittance will be honoured on first presentation.

Without prejudice to any of the above undertakings, you agree that, to the
extent you are or become a distributor of New Ordinary Shares (including
underwriters, dealers and all other persons who receive remuneration in respect
of securities sold) during the "distribution compliance period" (as such term is
defined under Regulation S of the United States Securities Act of 1933 (as
amended)) you will make all offers and sales of New Ordinary Shares during the
"distribution compliance period" only in accordance with Regulation S or an
exemption under the United States Securities Act of 1933 (as amended) or
pursuant to an effective registration statement under the said act. In addition,
If you shall sell New Ordinary Shares to a distributor, dealer or a person
receiving a selling concession you shall procure the purchaser is subject to the
same restrictions on offers and sales that apply to you.

You agree that settlement, or a series of settlements, with an aggregate value
of (pound)8,500 or greater, settled by way of third party payments, for example,
bankers draft, building society cheque or a cheque drawn by someone other than
the placee, are liable to be subject to verification of identity requirements to
comply with the Money Laundering Regulations 1993. This may Involve verification
of names and addresses through a reputable agency. By returning the Letter of
Confirmation, you undertake to provide such evidence of identity, within such
reasonable time (in each case to be determined at the discretion of Hoare
Govett) as may be requested to ensure compliance with the Money Laundering
Regulations 1993. If satisfactory evidence and identity has not been obtained
within a reasonable time, then such settlement will not proceed any further but
without prejudice to the rights of Hoare Govett or the Company to take
proceedings to recover any loss suffered by any of them as a result of failing
to provide satisfactory evidence. In such event the settlement monies (without
interest) will be returned to the bank or building society account from which
payment was made.

The presentation and any accompanying materials distributed by the Company were
directed solely at persons failing within certain exemptions to section 57 of
the Financial Services Act 1986 and it was not and is not intended that they
should be acted upon in any way by persons who do not have professional
experience in matters relating to investments and who do not fall within the
relevant exemptions.

Any forward looking statements, including any projections, contained in the
Presentation have not been commented or reported on by the company's auditors
and accordingly may not necessarily be on a basis which is consistent with the
Company's accounting policies. Actual results may differ substantially from
figures used for planning purposes only and accordingly any such forward looking
projections or projections should not be relied on in any manner whatsoever.

Time is of the essence as regards obligations set out in this letter and the
Letter of Confirmation.

                                       6
<PAGE>

[LOGO OF HOARE GOVETT]

This letter, the enclosed Letter of Confirmation and any contract which has been
or may be entered into between you and the Company on the terms of or pursuant
to this letter will be governed by and construed in accordance with English Law
and you have agreed to submit to the exclusive jurisdiction of the English
courts as regards any claim, dispute or matter arising out of or relating to
such contract, this letter and/or the enclosed Letter of Confirmation.

Whether or not this allocation is to be split amongst several accounts, IT IS
IMPERATIVE THAT THE ENCLOSED FORM OF CONFIRMATION IS COMPLETED, SIGNED AND
RETURNED TO US (FOR THE ATTENTION OF KEVIN GANT) BY FACSIMILE (020 7678 1134) OR
BY HAND IN RESPECT OF YOUR TOTAL PLACING COMMITMENT NOT LATER THAN 5.00 P.M. on,
30 May 2001.

Yours faithfully

/s/ [SIGNATURE ILLEGIBLE]

For and on behalf of
Hoare Govett Limited
Andrew C Chapman
Director -- Corporate Finance
<PAGE>

[LOGO OF HOARE GOVETT]

                             FORM OF CONFIRMATION

Whether or not this allocation is to be split amongst several accounts. IT IS
IMPERATIVE THAT THIS FORM IS COMPLETED, SIGNED AND RETURNED TO US FOR THE
ATTENTION OF KEVIN GANT BY FACSIMILE (020 7678 1134) OR BY HAND IN RESPECT OF
THE TOTAL PLACING COMMITMENT SO AS TO BE RECEIVED BY US NOT LATER THAN 5:00 P.M.
ON 30 MAY 2001.

To:  Hoare Govett Limited                      Ref No.: ABN7
     199 Bishopsgate
     London EC2M 3XW

For the attention of Kevin Gant
-------------------------------

                                   ---------------------------------------------
                                               Box A                      Box B
                                         Firm Shares          Open Offer Shares

                                           4,864,371                   5,135,629
                                   ---------------------------------------------

Dear Sirs

Bright Station plc (the "Company")
Placing of 270,000,000 new ordinary shares of 1p each ("New Ordinary Shares") on
behalf of the Company at 5p per share (the "Issue Price") (the "Placing")

We hereby acknowledge receipt of your letter of 29 May 2001 (the "Placing
Letter"), the definitions contained in which shall apply in this Form of
Confirmation. We confirm that subject to and only on the basis of the terms and
conditions contained therein, we irrevocably agree to subscribe for the number
of New Ordinary Shares set out in Box A and in Box B (subject, in the case of
Box B, to clawback from qualifying shareholders).

This Form of Confirmation is binding upon receipt by you of this form.

We understand and accept the contents of the Placing Letter and in making this
confirmation give the acknowledgement and agreement required by that letter and
the confirmations required by the paragraph headed "Confirmations" in that
letter.

In the event of us/the funds managed or advised by us being required to take up
any New Ordinary Shares in respect of our/their Placing Commitment, we agree to
pay on demand the full amount due in respect of such participation in accordance
with the terms of the Placing Letter.

Signed: /s/ [ILLEGIBLE SIGNATURE]                        30/5    , 2001
       ----------------------------------              ----------

For and on behalf of INVESCO ASSET MANAGEMENT LIMITED
                     --------------------------------
                     11 Davonshire Square
                     London EC2M 4YR

                                       8

<PAGE>

[LOGO OF HOARE GOVETT]                              Hoare Govett Limited
                                                    250 Bishopsgate
                                                    London EC2M 4AA
                                                    Telephone +44(0)20 7678 8000
                                                    Facsimile +44(0)20 7678 1587

STRICTLY PRIVATE AND CONFIDENTIAL

                                                        TOTAL PLACING COMMITMENT
                                           -------------------------------------
                                                     Box A                 Box B
                                               Firm Shares     Open Offer Shares

                                                 9,728,743            10,271,257
                                           -------------------------------------
                                                                     29 May 2001

Nigel Thomas Esq
ABN AMRO
Private Clients
1st Floor
250 Bishopsgate
London EC2M 4AA

For the attention of: Nigel Thomas

Dear Sirs

Bright Station plc (the "Company")
Placing of 270,000,000 new ordinary shares of 1p each ("New Ordinary Shares") on
behalf of the Company at 5p per share (the "Issue Price") (the "Placing")

We refer to our telephone conversation and to the recent presentation made by
the Company to you in connection with the above fund raising (the
"Presentation").

It is currently proposed that 270,000,000 New Ordinary Shares will be issued in
connection with a placing and open offer to raise (pound)13.5 million (gross).
Under the proposed open offer (the "Open Offer"), up to 138,661,969 of the New
Ordinary Shares will be offered to qualifying shareholders (the "Open Offer
Shares") at the Issue Price on the basis of 4 Open Offer Shares for every 5
existing Ordinary Shares held. Accordingly, the Open Offer Shares are being
conditionally placed with institutional investors by Hoare Govett as agent for
the Company, subject to clawback under the Open Offer, and the remaining
131,338,031 New Ordinary Shares are being placed firm (the "Firm Shares"). The
New Ordinary Shares will rank pari passu in all respects with the Company's
existing ordinary shares.

It is currently proposed that a circular comprising a prospectus will be
published by the Company containing further details of the Placing and Open
Offer and other proposals (see below) on or before 29 June 2001 ("Circular").
The Circular will contain a notice convening an extraordinary general meeting of
the Company to approve the Placing and Open Offer and related proposals ("EGM").
Application will also be made for the New Ordinary Shares to be admitted to
listing on the Official List of the UK Listing Authority ("UKLA") and to trading
on the London Stock Exchanges main market for listed securities ("Admission").
On the basis that the Circular is published by the above date, it is expected
that Admission will become effective by no later than 23 July 2001.
<PAGE>

[LOGO OF HOARE GOVETT]

In addition to the Placing and Open Offer, it is also proposed that:

(a)     other than Mr Lomnitz, all of the current Directors will resign on
        Admission (Mr Lomnitz will remain as an executive Director). Messrs
        Jefferies (Non-executive Chairman), Hill (Chief Executive Officer),
        Canham (Chief Financial Officer) and Bair (non-executive Director) will
        be appointed to the Company's Board on Admission;

(b)     the total "pool" of share options capable of being issued under the
        Company's share option schemes will be increased from 10 per cent. of
        the issued share capital from time to time to 15 per cent;

(c)     the Company closes its OfficeShopper and Sparza operations, trading now
        having ceased;

(d)     between the date of this letter and completion of the Placing and Open
        Offer, the Company may be required to secure a temporary credit line and
        or debt bridge facility, which may be provided by some or all of the
        existing directors, to provide cash liquidity pending completion of the
        Placing and Open Offer;

(e)     in connection with the termination of their arrangements with the
        Company and the cancellation of their outstanding share options, Dan
        Wagner and Dave Mattey will be entitled, subject to completion of the
        Placing and Open Offer, to certain payments from the Company amounting
        to (pound)220,580 and (pound)274,337 respectively, which amounts they
        have agreed will be applied in paying up such number of new Ordinary
        Shares in the Company as equals the amount of their respective payments
        divided by the Issue Price;

(f)     as of 31 March 2001, the Group had available cash resources of
        (pound)7.4 million ((pound)16.3 million at 31 December 2000). The
        Company announced on 2 May 2001 that they had available cash of
        (pound)2.9 million as at 30 April 2001.

(g)     The audit report for the year ended 31 December 2000, while unqualified,
        contains an explanatory paragraph making reference to a fundamental
        uncertainty concerning the going concern basis of preparation of the
        financial statements being dependent upon the successful conclusion of
        bridge funding and the Placing and Open Offer.

We have pleasure, as agent for the Company, in now offering you the number of
Firm Shares set out in Box A above and the number of Open Offer Shares set out
in Box B above, (together "Placing Commitment") (free of all expenses) at the
Issue Price subject to the terms and conditions in this letter and in the Form
of Confirmation and to the Money Laundering Regulations 1993. The Open Offer
Shares (but not the Firm Shares) will be subject to recall under the terms of
the Open Offer and the right is accordingly reserved to qualifying shareholders
to recall before the closing date for the Open Offer all or any of the Open
Offer Shares conditionally placed with you.

This letter, the terms of which are conditional (amongst other things) on a
draft press announcement ("Press Announcement") being released by the Company
confirming securing Placing Commitments of (pound)13.5 million, sets out the
basis on which you undertake to accept the Placing Commitment offered to you by
the Company (as set out above).

The Placing Commitments shall be made on the terms of this letter and any
additional terms and conditions as may be required to comply with the
requirements of the City Code on Takeovers and Mergers, the Financial Services
Authority acting in its capacity as the United Kingdom Listing Authority
("UKLA") and the London Stock Exchange.

                                       2
<PAGE>

[LOGO OF HOARE GOVETT]

You should note that the Placing and Open Offer is not being underwritten.

The Placing

The Circular is currently expected to be published by the Company no later than
29 June 2001. You are therefore making your decision whether or not to
participate in the Placing solely on the basis of the information contained in
the Presentation and in this letter. The Presentation may not have contained all
information necessary for you to make an informed assessment of the Company and
its prospects. It is a term of your participation in the Placing that you accept
this fact. However, your participation in the Placing will be conditional on the
following:

(a)     an announcement in relation to the Placing and Open Offer and related
        proposals being made in accordance with the Listing Rules of the UKLA
        ("Listing Rules");

(b)     the Circular being published in accordance with the Financial Services
        Act 1986 ("FSA") and the Listing Rules and containing a working capital
        statement in accordance with 6.E.16 of the Listing Rules which is
        unqualified except as to Admission;

(c)     the Circular (a) complying with the Listing Rules and section 146 of the
        FSA and (b) in Hoare Govett's reasonable opinion being and remaining
        until Admission accurate and not misleading in any material respect;

(d)     In Hoare Govett's reasonable opinion, there being no information in or
        omissions from the Circular which, when taken as a whole, are materially
        inconsistent with the information or position contained In the
        Presentation;

(e)     the resolutions being passed at the EGM without amendment which Hoare
        Govett reasonably regards as material;

(f)     the resignation of all of the Company's Directors with effect from
        Admission (other than Mr Lomnitz who will remain as an executive
        director);

(g)     prior to Admission, so far as Hoare Govett is aware, no order having
        been made or resolution passed in respect of the Company or any of its
        material subsidiaries for its or their winding up or dissolution or for
        it or them to enter into any arrangement or composition for the benefit
        of creditors, or the appointment of a receiver, administrative receiver,
        trustee or similar officer;

(h)     commitments being received by the Company (or its duly appointed agents)
        pursuant to the Placing for (pound)13.5 million (gross);

(i)     Admission becoming effective by no later than 31 August 2001.

Hoare Govett and the Company reserve the right to agree and extend the time for
the satisfaction of any of the above conditions provided that such time may not
be extended beyond 31 August 2001. In that event, we will inform you at the
earliest opportunity and all subsequent dates mentioned in this letter will be
adjusted appropriately.

You agree that where a condition is expressed to be subject to Hoare Govett's
reasonable opinion:

(a)     Hoare Govett will exercise its opinion in its absolute discretion,
        having regard to the Placing and Open Offer as a whole, and not to
        placee's interests individually; and

                                       3
<PAGE>

[LOGO OF HOARE GOVETT]

(b)     provided that Hoare Govett exercises its discretion in good faith, it
        shall not incur any liability to you whatsoever.

By signing and returning the attached Form of Confirmation, you will confirm
your agreement with us, on the terms, and subject to the conditions, of this
letter and subject to the Memorandum and Articles of Association of the Company,
to subscribe under the Placing for the number of New Ordinary Shares set out in
Boxes A and B on page 1 of this letter at the Issue Price. Subject only to the
above conditions being satisfied or waived, your Placing Commitment will be
irrevocable.

Commissions

No commission will be payable to you in respect of your participation in the
Placing.

Hoare Govett will be paid a commission by the Company in relation to the Placing
equal to seven per cent. of the total funds raised under the Placing and Open
Offer. In order to retain cash within the Company and to align its interests
with those of institutional investors who are giving Placing Commitments, Hoare
Govett has agreed to take this commission principally in the form of equity at
the Issue Price provided that the total number of new Ordinary Shares received
by Hoare Govett shall be less than 3 per cent. of the then issued share capital
of the Company, with the remainder taken in cash.

Timetable

The date the Circular is posted will determine the timetable for the Open Offer
and EGM.

As soon as possible after the closing of the Open Offer, we will inform you of
the amount recalled by qualifying shareholders under the Open Offer and of the
number of Open Offer Shares and Firm Shares which are required to be taken up by
you ("Trade Confirmation"), together with the funds payment to be made.

Please note that ABN AMRO Equities (UK) Limited will act as our execution and
settlement agent. As such, all trades will be matched and settled with its CREST
Participant ID 590 (five nine zero). Trade confirmations will be issued by ABN
AMRO Equities (UK) Limited in the normal manner. Settlement will be free of all
charges, commissions and duties.

In the event that you have any queries in respect of settlement, please call
Rhys Thomas on 020 7678 7043 or Kevin Gant on 020 7678 0584.

Interest may be charged in respect of payments not received by us for value by
the required time referred to above at a rate equal to the London Inter-Bank
Offered Rate for seven day deposits in sterling plus five per cent. per annum as
determined by us.

In the event that the conditions are not fulfilled by 31 August 2001, the
Placing will not proceed and your rights and obligations under this letter shall
cease and determine. In such event, all funds delivered to us pursuant to this
letter will be returned to you by telegraphic transfer on your instructions or
by cheque.

Confirmations

By signing and returning the Form of Confirmation, you will be confirming that,
as a term of the acceptance of your Placing Commitment:

                                       4
<PAGE>

[LOGO OF HOARE GOVETT]

(a)     you have entered into this commitment solely on the basis of the
        information contained in the Presentation and this letter and you have
        not relied on any other representation or warranty in reaching your
        decision to acquire New Ordinary Shares under your Placing Commitment;

(b)     neither Hoare Govett nor the Company's sponsor, PricewaterhouseCoopers
        Corporate Finance, is acting for you in connection with the Placing and
        will not be responsible to you in respect of the Placing for providing
        protections afforded to their customers. In particular, you acknowledge
        that neither Hoare Govett nor PricewaterhouseCoopers Corporate Finance
        has made any recommendation to you in relation to the Placing and is not
        advising you with regard to the suitability or merits of the transaction
        or in connection with the arrangements set out in this letter. In
        addition, you acknowledge that you do not expect Hoare Govett or
        PricewaterhouseCoopers Corporate Finance to have any duties or
        responsibilities towards you similar or comparable to those imposed by
        The Securities and Futures Authority Limited's rules requiring "best
        execution", "suitability" and "risk warnings";

(c)     that you, or each person or body on whose behalf you accept your Placing
        Commitment (in whole or in part) or to whom you allocate such Placing
        Commitment (in whole or in part) has capacity and authority to enter
        into and perform the terms of such commitment and that you are entitled
        to accept your Placing Commitment under the laws of all relevant
        jurisdictions which apply to you, have complied and will fully comply
        with all such laws in relation to your Placing Commitment (including,
        where applicable, the Money Laundering Regulations 1993) and have
        obtained all governmental and other consents which may be required in
        relation to your Placing Commitment;

(f)     none of the New Ordinary Shares has been or will be registered under the
        Securities Act of 1933 of the United States (as amended) (the
        "Securities Act") or any of the relevant securities, laws of Canada or
        Australia and may not be offered, sold, taken up or delivered, directly
        or indirectly, into or within the United States except pursuant to an
        exemption from, or in transactions not subject to, the registration
        requirements of the Securities Act, and you represent, warrant and
        undertake that unless you are taking up New Ordinary Shares pursuant to
        such an exemption: (i) you are not within the United States, Canada,
        Japan or Australia and you are not a US person or a citizen of Canada,
        Japan or Australia; (ii) you have not offered, sold or delivered and
        will not offer, sell or deliver any of the New Ordinary Shares to
        persons within the United States, directly or indirectly, or into
        Canada, Japan or Australia; (iii) neither you, your affiliates, nor any
        persons acting on your behalf, have engaged or will engage in any
        directed selling efforts with respect to the New Ordinary Shares; (iv)
        you are not taking up the New Ordinary Shares for resale in or into the
        United States, Canada, Japan or Australia; and (v) you will not
        distribute any offering material, directly or indirectly, in or into the
        United States, Canada, Japan or Australia or to any persons resident in
        such countries. Terms and expressions used in this paragraph have the
        meanings given to them by Regulation S made under the Securities Act;

(g)     you will not procure the acquisition of any New Ordinary Shares by or
        for the account of any person with an address in Australia, Canada or
        Japan, you will not offer any New Ordinary Shares to any such person and
        you will not otherwise treat any New Ordinary Shares in any manner that
        would contravene any applicable Australian, Canadian, Japanese or other
        securities legislation;

(g)     you are a person who falls within paragraph 11(3) of the Financial
        Services Act 1986 (Investment Advertisements)(Exemptions) Order 1996 or
        of the kind described in Article 8(1) of the Financial Services Act 1986
        (Investment Advertisements)(Exemptions)(No.2) Order 1995;

(h)     all notices, remittances and documents of title are sent at your own
        risk;

                                       5
<PAGE>

[LOGO OF HOARE GOVETT]

(i)     that to the extent you are a shareholder in Bright Station Plc, you will
        vote in favour of the resolutions to be put forward at the EGM to effect
        the proposals (as contemplated);

(j)     Hoare Govett may at its absolute discretion refuse or scale back your
        application for a Placing Commitment by any amount it deems fit; and

(k)     that your remittance will be honoured on first presentation.

Without prejudice to any of the above undertakings, you agree that, to the
extent you are or become a distributor of New Ordinary Shares (including
underwriters, dealers and all other persons who receive remuneration in respect
of securities sold) during the "distribution compliance period" (as such term is
defined under Regulation S of the United States Securities Act of 1933 (as
amended)) you will make all offers and sales of New Ordinary Shares during the
"distribution compliance period" only in accordance with Regulation S or an
exemption under the United States Securities Act of 1933 (as amended) or
pursuant to an effective registration statement under the said act. In addition,
if you shall sell New Ordinary Shares to a distributor, dealer or a person
receiving a selling concession you shall procure the purchaser is subject to the
same restrictions on offers and sales that apply to you.

You agree that settlement, or a series of settlements, with an aggregate value
of (pound)8,500 or greater, settled by way of third party payments, for example,
bankers draft, building society cheque or a cheque drawn by someone other than
the placee, are liable to be subject to verification of identity requirements to
comply with the Money Laundering Regulations 1993. This may involve verification
of names and addresses through a reputable agency. By returning the Letter of
Confirmation, you undertake to provide such evidence of identity, within such
reasonable time (in each case to be determined at the discretion of Hoare
Govett) as may be requested to ensure compliance with the Money Laundering
Regulations 1993. If satisfactory evidence and identity has not been obtained
within a reasonable time, then such settlement will not proceed any further but
without prejudice to the rights of Hoare Govett or the Company to take
proceedings to recover any loss suffered by any of them as a result of failing
to provide satisfactory evidence. In such event the settlement monies (without
interest) will be returned to the bank or building society account from which
payment was made.

The presentation and any accompanying materials distributed by the Company were
directed solely at persons falling within certain exemptions to section 57 of
the Financial Services Act 1986 and it was not and is not intended that they
should be acted upon in any way by persons who do not have professional
experience in matters relating to investments and who do not fall within the
relevant exemptions.

Any forward looking statements, including any projections, contained in the
Presentation have not been commented or reported on by the Company's auditors
and accordingly may not necessarily be on a basis which is consistent with the
Company's accounting policies. Actual results may differ substantially from
figures used for planning purposes only and accordingly any such forward looking
projections or projections should not be relied on in any manner whatsoever.

Time is of the essence as regards obligations set out in this letter and the
Letter of Confirmation.

                                       6
<PAGE>

[LOGO OF HOARE GOVETT]

This letter, the enclosed Letter of Confirmation and any contract which has been
or may be entered into between you and the Company on the terms of or pursuant
to this letter will be governed by and construed in accordance with English Law
and you have agreed to submit to the exclusive jurisdiction of the English
courts as regards any claim, dispute or matter arising out of or relating to
such contract, this letter and/or the enclosed Letter of Confirmation.

Whether or not this allocation is to be split amongst several accounts, IT IS
IMPERATIVE THAT THE ENCLOSED FORM OF CONFIRMATION IS COMPLETED, SIGNED AND
RETURNED TO US (FOR THE ATTENTION OF KEVIN GANT) BY FACSIMILE (020 7678 1134) OR
BY HAND IN RESPECT OF YOUR TOTAL PLACING COMMITMENT NOT LATER THAN 5.00 P.M. on,
30 May 2001.

Yours faithfully

/s/ [ILLEGIBLE]

For and on behalf of
Hoare Govett Limited
Andrew C Chapman
Director -- Corporate Finance

                                       7
<PAGE>

[LOGO OF HOARE GOVETT]

                             FORM OF CONFIRMATION

Whether or not this allocation is to be split amongst several accounts, IT IS
IMPERATIVE THAT THIS FORM IS COMPLETED, SIGNED AND RETURNED TO US FOR THE
ATTENTION OF KEVIN GANT BY FACSIMILE (020 7678 1134) OR BY HAND IN RESPECT OF
THE TOTAL PLACING COMMITMENT SO AS TO BE RECEIVED BY US NOT LATER THAN 5:00 P.M.
ON 30 MAY 2001.

To:  Hoare Govett Limited                      Ref No.: ABN1
     199 Bishopsgate
     London EC2M 3XW

For the attention of Kevin Gant
-------------------------------

                                   ---------------------------------------------
                                               Box A                      Box B
                                         Firm Shares          Open Offer Shares

                                           9,728,743                  10,271,257
                                   ---------------------------------------------

Dear Sirs

Bright Station plc (the "Company")
Placing of 270,000,000 new ordinary shares of 1p each ("New Ordinary Shares") on
behalf of the Company at 5p per share (the "Issue Price") (the "Placing")

We hereby acknowledge receipt of your letter of 29 May 2001 (the "Placing
Letter"), the definitions contained in which shall apply in this Form of
Confirmation. We confirm that subject to and only on the basis of the terms and
conditions contained therein, we irrevocably agree to subscribe for the number
of New Ordinary Shares set out in Box A and in Box B (subject, in the case of
Box B, to clawback from qualifying shareholders).

This Form of Confirmation is binding upon receipt by you of this form.

We understand and accept the contents of the Placing Letter and in making this
confirmation give the acknowledgement and agreement required by that letter and
the confirmations required by the paragraph headed "Confirmations" in that
letter.

In the event of us/the funds managed or advised by us being required to take up
any New Ordinary Shares in respect of our/their Placing Commitment, we agree to
pay on demand the full amount due in respect of such participation in accordance
with the terms of the Placing Letter.

Signed: /s/ [ILLEGIBLE SIGNATURE]                       30 . 5 . , 2001
       ----------------------------------              ----------

For and on behalf of ABN AMRO ASSET MAN LTD
                     --------------------------------

                                            ABN AMRO ASSET MANAGEMENT
                                                    LIMITED

                                                  30 MAY 2001
                                       8

<PAGE>

[LOGO OF HOARE GOVETT]

                                                    Hoare Govett Limited
                                                    250 Bishopsgate
                                                    London EC2M 4AA
                                                    Telephone +44(0)20 7678 8000
                                                    Facsimile +44(0)20 7678 1587

STRICTLY PRIVATE AND CONFIDENTIAL

                                                        TOTAL PLACING COMMITMENT
                                           -------------------------------------
                                                     Box A                 Box B
                                               Firm Shares     Open Offer Shares

                                                 2,188,967             2,311,033
                                           -------------------------------------

                                                                     29 May 2001

Bob Brown Esq
R C Brown
Buchanans North
Redcliff Backs
Bristol
BS1 6HN

For the attention of: Bob Brown

Dear Sirs

Bright Station plc (the "Company")
Placing of 270,000,000 new ordinary shares of 1p each ("New Ordinary Shares") on
behalf of the Company at 5p per share (the "Issue Price") (the "Placing")

We refer to our telephone conversation and to the recent presentation made by
the Company to you in connection with the above fund raising (the
"Presentation").

It is currently proposed that 270,000,000 New Ordinary Shares will be issued in
connection with a placing and open offer to raise (pound)13.5 million (gross).
Under the proposed open offer (the "Open Offer"), up to 138,661,969 of the New
Ordinary Shares will be offered to qualifying shareholders (the "Open Offer
Shares") at the Issue Price on the basis of 4 Open Offer Shares for every 5
existing Ordinary Shares held. Accordingly, the Open Offer Shares are being
conditionally placed with institutional investors by Hoare Govett as agent for
the Company, subject to clawback under the Open Offer, and the remaining
131,338,031 New Ordinary Shares are being placed firm (the "Firm Shares"). The
New Ordinary Shares will rank pari passu in all respects with the Company's
existing ordinary shares.

It is currently proposed that a circular comprising a prospectus will be
published by the Company containing further details of the Placing and Open
Offer and other proposals (see below) on or before 29 June 2001 ("Circular").
The Circular will contain a notice convening an extraordinary general meeting of
the Company to approve the Placing and Open Offer and related proposals ("EGM").
Application will also be made for the New Ordinary Shares to be admitted to
listing on the Official List of the UK Listing Authority ("UKLA") and to trading
on the London Stock Exchange's main market for listed securities ("Admission").
On the basis that the Circular is published by the above date, it is expected
that Admission will become effective by no later than 23 July 2001.

<PAGE>

[LOGO OF HOARE GOVETT]

In addition to the Placing and Open Offer, it is also proposed that:

(a)     other than Mr Lomnitz, all of the current Directors will resign on
        Admission (Mr Lomnitz will remain as an executive Director). Messrs
        Jefferies (Non-executive Chairman), Hill (Chief Executive Officer),
        Canham (Chief Financial Officer) and Bair (non-executive Director) will
        be appointed to the Company's Board on Admission;

(b)     the total "pool" of share options capable of being issued under the
        Company's share option schemes will be increased from 10 per cent. of
        the issued share capital from time to time to 15 per cent;

(c)     the Company closes its OfficeShopper and Sparza operations, trading now
        having ceased;

(d)     between the date of this letter and completion of the Placing and Open
        Offer, the Company may be required to secure a temporary credit line and
        or debt bridge facility, which may be provided by some or all of the
        existing directors, to provide cash liquidity pending completion of the
        Placing and Open Offer;

(e)     in connection with the termination of their arrangements with the
        Company and the cancellation of their outstanding share options, Dan
        Wagner and Dave Mattey will be entitled, subject to completion of the
        Placing and Open Offer, to certain payments from the Company amounting
        to (pound)220,580 and (pound)274,337 respectively, which amounts they
        have agreed will be applied in paying up such number of new Ordinary
        Shares in the Company as equals the amount of their respective payments
        divided by the Issue Price;

(f)     as of 31 March 2001, the Group had available cash resources of
        (pound)7.4 million ((pound)16.3 million at 31 December 2000). The
        Company announced on 2 May 2001 that they had available cash of
        (pound)2.9 million as at 30 April 2001.

(g)     The audit report for the year ended 31 December 2000, while unqualified,
        contains an explanatory paragraph making reference to a fundamental
        uncertainty concerning the going concern basis of preparation of the
        financial statements being dependent upon the successful conclusion of
        bridge funding and the Placing and Open Offer.

We have pleasure, as agent for the Company, in now offering you the number of
Firm Shares set out in Box A above and the number of Open Offer Shares set out
in Box B above, (together "Placing Commitment") (free of all expenses) at the
Issue Price subject to the terms and conditions in this letter and in the Form
of Confirmation and to the Money Laundering Regulations 1993. The Open Offer
Shares (but not the Firm Shares) will be subject to recall under the terms of
the Open Offer and the right is accordingly reserved to qualifying shareholders
to recall before the closing date for the Open Offer all or any of the Open
Offer Shares conditionally placed with you.

This letter, the terms of which are conditional (amongst other things) on a
draft press announcement ("Press Announcement") being released by the Company
confirming securing Placing Commitments of (pound)13.5 million, sets out the
basis on which you undertake to accept the Placing Commitment offered to you by
the Company (as set out above).

The Placing Commitments shall be made on the terms of this letter and any
additional terms and conditions as may be required to comply with the
requirements of the City Code on Takeovers and Mergers, the Financial Services
Authority acting in its capacity as the United Kingdom Listing Authority
("UKLA") and the London Stock Exchange.

                                       2
<PAGE>

[LOGO OF HOARE GOVETT]

You should note that the Placing and Open Offer is not being underwritten.

The Placing

The Circular is currently expected to be published by the Company no later than
29 June 2001. You are therefore making your decision whether or not to
participate in the Placing solely on the basis of the information contained in
the Presentation and in this letter. The Presentation may not have contained all
information necessary for you to make an informed assessment of the Company and
its prospects. It is a term of your participation in the Placing that you accept
this fact. However, your participation in the Placing will be conditional on the
following:

(a)     an announcement in relation to the Placing and Open Offer and related
        proposals being made in accordance with the Listing Rules of the UKLA
        ("Listing Rules");

(b)     the Circular being published in accordance with the Financial Services
        Act 1986 ("FSA") and the Listing Rules and containing a working capital
        statement in accordance with 6.E.16 of the Listing Rules which is
        unqualified except as to Admission;

(c)     the Circular (a) complying with the Listing Rules and section 146 of the
        FSA and (b) in Hoare Govetts reasonable opinion being and remaining
        until Admission accurate and not misleading in any material respect;

(d)     in Hoare Govett's reasonable opinion, there being no information in or
        omissions from the Circular which, when taken as a whole, are materially
        inconsistent with the information or position contained in the
        Presentation;

(e)     the resolutions being passed at the EGM without amendment which Hoare
        Govett reasonably regards as material;

(f)     the resignation of all of the Company's Directors with effect from
        Admission (other than Mr Lomnitz who will remain as an executive
        director);

(g)     prior to Admission, so far as Hoare Govett is aware, no order having
        been made or resolution passed in respect of the Company or any of its
        material subsidiaries for its or their winding up or dissolution or for
        it or them to enter into any arrangement or composition for the benefit
        of creditors, or the appointment of a receiver, administrative receiver,
        trustee or similar officer;

(h)     commitments being received by the Company (or its duly appointed agents)
        pursuant to the Placing for (pound)13.5 million (gross);

(i)     Admission becoming effective by no later than 31 August 2001.

Hoare Govett and the Company reserve the right to agree and extend the time for
the satisfaction of any of the above conditions provided that such time may not
be extended beyond 31 August 2001. In that event, we will inform you at the
earliest opportunity and all subsequent dates mentioned in this letter will be
adjusted appropriately.

You agree that where a condition is expressed to be subject to Hoare Govett's
reasonable opinion:

(a)     Hoare Govett will exercise its opinion in its absolute discretion,
        having regard to the Placing and Open Offer as a whole, and not to
        placee's interests individually; and

                                       3
<PAGE>

[LOGO OF HOARE GOVETT]

(b)     provided that Hoare Govett exercises its discretion in good faith, it
        shall not incur any liability to you whatsoever.

By signing and returning the attached Form of Confirmation, you will confirm
your agreement with us, on the terms, and subject to the conditions, of this
letter and subject to the Memorandum and Articles of Association of the Company,
to subscribe under the Placing for the number of New Ordinary Shares set out in
Boxes A and B on page 1 of this letter at the Issue Price. Subject only to the
above conditions being satisfied or waived, your Placing Commitment will be
irrevocable.

Commissions

No commission will be payable to you in respect of your participation in the
Placing.

Hoare Govett will be paid a commission by the Company in relation to the Placing
equal to seven per cent. of the total funds raised under the Placing and Open
Offer. In order to retain cash within the Company and to align its interests
with those of institutional investors who are giving Placing Commitments, Hoare
Govett has agreed to take this commission principally in the form of equity at
the Issue Price provided that the total number of new Ordinary Shares received
by Hoare Govett shall be less than 3 per cent. of the then issued share capital
of the Company, with the remainder taken in cash.

Timetable

The date the Circular is posted will determine the timetable for the Open Offer
and EGM.

As soon as possible after the closing of the Open Offer, we will inform you of
the amount recalled by qualifying shareholders under the Open Offer and of the
number of Open Offer Shares and Firm Shares which are required to be taken up by
you ("Trade Confirmation"), together with the funds payment to be made.

Please note that ABN AMRO Equities (UK) Limited will act as our execution and
settlement agent. As such, all trades will be matched and settled with its CREST
Participant ID 590 (five nine zero). Trade confirmations will be issued by ABN
AMRO Equities (UK) Limited in the normal manner. Settlement will be free of all
charges, commissions and duties.

In the event that you have any queries in respect of settlement, please call
Rhys Thomas on 020 7678 7043 or Kevin Gant on 020 7678 0584.

Interest may be charged in respect of payments not received by us for value by
the required time referred to above at a rate equal to the London Inter-Bank
Offered Rate for seven day deposits in sterling plus five per cent. per annum as
determined by us.

In the event that the conditions are not fulfilled by 31 August 2001, the
Placing will not proceed and your rights and obligations under this letter shall
cease and determine. In such event, all funds delivered to us pursuant to this
letter will be returned to you by telegraphic transfer on your instructions or
by cheque.

Confirmations

By signing and returning the Form of Confirmation, you will be confirming that,
as a term of the acceptance of your Placing Commitment:

                                       4
<PAGE>

[LOGO OF HOARE GOVETT]

(a)     you have entered into this commitment solely on the basis of the
        information contained in the Presentation and this letter and you have
        not relied on any other representation or warranty in reaching your
        decision to acquire New Ordinary Shares under your Placing Commitment;

(b)     neither Hoare Govett nor the Company's sponsor, PricewaterhouseCoopers
        Corporate Finance, is acting for you in connection with the Placing and
        will not be responsible to you in respect of the Placing for providing
        protections afforded to their customers. In particular, you acknowledge
        that neither Hoare Govett nor PricewaterhouseCoopers Corporate Finance
        has made any recommendation to you in relation to the Placing and is not
        advising you with regard to the suitability or merits of the transaction
        or in connection with the arrangements set out in this letter. In
        addition, you acknowledge that you do not expect Hoare Govett or
        PricewaterhouseCoopers Corporate Finance to have any duties or
        responsibilities towards you similar or comparable to those imposed by
        The Securities and Futures Authority Limited's rules requiring "best
        execution", "suitability" and "risk warnings";

(c)     that you, or each person or body on whose behalf you accept your Placing
        Commitment (in whole or in part) or to whom you allocate such Placing
        Commitment (in whole or in part) has capacity and authority to enter
        into and perform the terms of such commitment and that you are entitled
        to accept your PlacIng Commitment under the laws of all relevant
        jurisdictions which apply to you, have complied and will fully comply
        with all such laws in relation to your Placing Commitment (including,
        where applicable, the Money Laundering Regulations 1993) and have
        obtained all governmental and other consents which may be required in
        relation to your Placing Commitment;

(f)     none of the New Ordinary Shares has been or will be registered under the
        Securities Act of 1933 of the United States (as amended) (the
        "Securities Act") or any of the relevant securities, laws of Canada or
        Australia and may not be offered, sold, taken up or delivered, directly
        or indirectly, into or within the United States except pursuant to an
        exemption from, or in transactions not subject to, the registration
        requirements of the Securities Act, and you represent, warrant and
        undertake that unless you are taking up New Ordinary Shares pursuant to
        such an exemption: (i) you are not within the United States, Canada,
        Japan or Australia and you are not a US person or a citizen of Canada,
        Japan or Australia; (ii) you have not offered, sold or delivered and
        will not offer, sell or deliver any of the New Ordinary Shares to
        persons within the United States, directly or indirectly, or into
        Canada, Japan or Australia; (iii) neither you, your affiliates, nor any
        persons acting on your behalf, have engaged or will engage in any
        directed selling efforts with respect to the New Ordinary Shares; (iv)
        you are not taking up the New Ordinary Shares for resale in or into the
        United States, Canada, Japan or Australia; and (v) you will not
        distribute any offering material, directly or indirectly, in or into the
        United States, Canada, Japan or Australia or to any persons resident in
        such countries. Terms and expressions used in this paragraph have the
        meanings given to them by Regulation S made under the Securities Act;

(g)     you will not procure the acquisition of any New Ordinary Shares by or
        for the account of any person with an address in Australia, Canada or
        Japan, you will not otter any New Ordinary Shares to any such person and
        you will not otherwise treat any New Ordinary Shares in any manner that
        would contravene any applicable Australian, Canadian, Japanese or other
        securities legislation;

(g)     you are a person who falls within paragraph 11(3) of the Financial
        Services Act 1986 (Investment Advertisements)(Exemptions) Order 1996 or
        of the kind described in Article 8(1) of the Financial Services Act 1986
        (Investment Advertisements)(Exemptions)(No.2) Order 1995;

(h)     all notices, remittances and documents of title are sent at your own
        risk;

                                       5
<PAGE>

[LOGO OF HOARE GOVETT]

(i)     that to the extent you are a shareholder in Bright Station Plc, you will
        vote in favour of the resolutions to be put forward at the EGM to effect
        the proposals (as contemplated);

(j)     Hoare Govett may at its absolute discretion refuse or scale back your
        application for a Placing Commitment by any amount it deems fit; and

(k)     that your remittance will be honoured on first presentation.

Without prejudice to any of the above undertakings, you agree that, to the
extent you are or become a distributor of New Ordinary Shares (including
underwriters, dealers and all other persons who receive remuneration in respect
of securities sold) during the "distribution compliance period" (as such term is
defined under Regulation S of the United States Securities Act of 1933 (as
amended)) you will make all offers and sales of New Ordinary Shares during the
"distribution compliance period" only In accordance with Regulation S or an
exemption under the United States Securities Act of 1933 (as amended) or
pursuant to an effective registration statement under the said act. In addition,
if you shall sell New Ordinary Shares to a distributor, dealer or a person
receiving a selling concession you shall procure the purchaser is subject to the
same restrictions on offers and sales that apply to you.

You agree that settlement, or a series of settlements, with an aggregate value
of (pound)8,500 or greater, settled by way of third party payments, for example,
bankers draft, building society cheque or a cheque drawn by someone other than
the placee, are liable to be subject to verification of identity requirements to
comply with the Money Laundering Regulations 1993. This may involve verification
of names and addresses through a reputable agency. By returning the Letter of
Confirmation, you undertake to provide such evidence of identity, within such
reasonable time (in each case to be determined at the discretion of Hoare
Govett) as may be requested to ensure compliance with the Money Laundering
Regulations 1993. If satisfactory evidence and identity has not been obtained
within a reasonable time, then such settlement will not proceed any further but
without prejudice to the rights of Hoare Govett or the Company to take
proceedings to recover any loss suffered by any of them as a result of failing
to provide satisfactory evidence. In such event the settlement monies (without
interest) will be returned to the bank or building society account from which
payment was made.

The presentation and any accompanying materials distributed by the Company were
directed solely at persons failing within certain exemptions to section 57 of
the Financial Services Act 1986 and it was not and is not intended that they
should be acted upon in any way by persons who do not have professional
experience in matters relating to investments and who do not fall within the
relevant exemptions.

Any forward looking statements, including any projections, contained in the
Presentation have not been commented or reported on by the Company's auditors
and accordingly may not necessarily be on a basis which is consistent with the
Company's accounting policies. Actual results may differ substantially from
figures used for planning purposes only and accordingly any such forward looking
projections or projections should not be relied on in any manner whatsoever.

Time is of the essence as regards obligations set out in this letter and the
Letter of Confirmation.

                                       6
<PAGE>

[LOGO OF HOARE GOVETT]

This letter, the enclosed Letter of Confirmation and any contract which has been
or may be entered into between you and the Company on the terms of or pursuant
to this letter will be governed by and construed in accordance with English Law
and you have agreed to submit to the exclusive jurisdiction of the English
courts as regards any claim, dispute or matter arising out of or relating to
such contract, this letter and/or the enclosed Letter of Confirmation.

Whether or not this allocation is to be split amongst several accounts, IT IS
IMPERATIVE THAT THE ENCLOSED FORM OF CONFIRMATION IS COMPLETED, SIGNED AND
RETURNED TO US (FOR THE ATTENTION OF KEVIN GANT) BY FACSIMILE (020 7678 1134) OR
BY HAND IN RESPECT OF YOUR TOTAL PLACING COMMITMENT NOT LATER THAN 5.00 P.M. on,
30 May 2001.

Yours faithfully

/s/  [SIGNATURE ILLEGIBLE]

For and on behalf of
Hoare Govett Limited
Andrew C Chapman
Director - Corporate Finance
<PAGE>

[LOGO OF HOARE GOVETT LIMITED]

                             FORM OF CONFIRMATION

Whether or not this allocation is to be split amongst several accounts. IT IS
IMPERATIVE THAT THIS FORM IS COMPLETED, SIGNED AND RETURNED TO US FOR THE
ATTENTION OF KEVIN GANT BY FACSIMILE (020 7678 1134) OR BY HAND IN RESPECT OF
THE TOTAL PLACING COMMITMENT SO AS TO BE RECEIVED BY US NOT LATER THAN 5:00 P.M.
ON 30 MAY 2001.

To:  Hoare Govett Limited                      Ref No.: ABN12/JRCT
     199 Bishopsgate
     London EC2M 3XW

For the attention of Kevin Gant
-------------------------------

                                   ---------------------------------------------
                                               Box A                      Box B
                                         Firm Shares          Open Offer Shares

                                           8,158,987                   2,311,033
                                   ---------------------------------------------

Dear Sirs

Bright Station plc (the "Company")
Placing of 270,000,000 new ordinary shares of 1p each ("New Ordinary Shares") on
behalf of the Company at 5p per share (the "Issue Price") (the "Placing")

We hereby acknowledge receipt of your letter of 23 May 2001 (the "Placing
Letter"), the definitions contained in which shall apply in this Form of
Confirmation. We confirm that subject to and only on the basis of the terms and
conditions contained therein, we irrevocably agree to subscribe for the number
of New Ordinary Shares set out in Box A and in Box B (subject, in the case of
Box B, to clawback from qualifying shareholders).

This Form of Confirmation is binding upon receipt by you of this form.

We understand and accept the contents of the Placing Letter and in making this
confirmation give the acknowledgement and agreement required by that letter and
the confirmations required by the paragraph headed "Confirmations" in that
letter.

In the event of us/the funds managed or advised by us being required to take up
any New Ordinary Shares in respect of our/their Placing Commitment, we agree to
pay on demand the full amount due in respect of such participation in accordance
with the terms of the Placing Letter.

Signed: /s/ [ILLEGIBLE SIGNATURE]                        30th May, 2001
       ----------------------------------              ----------

For and on behalf of R.C. BROWN INVESTMENT MANAGEMENT
                     --------------------------------

                                       8

<PAGE>

[LOGO OF HOARE GOVETT]
                                                    Hoare Govett Limited
                                                    250 Bishopsgate
                                                    London EC2M 4AA
                                                    Telephone +44(0)20 7678 8000
                                                    Facsimile +44(0)20 7678 1587

STRICTLY PRIVATE AND CONFIDENTIAL

                                                        TOTAL PLACING COMMITMENT
                                           -------------------------------------
                                                     Box A                 Box B
                                               Firm Shares     Open Offer Shares

                                                15,565,989            16,434,011
                                           -------------------------------------
                                                                     29 May 2001

Nick Ross Esq
Electra Flemming
65 Kingsway
London
WC2B 6QT

For the attention of: Nick Ross

Dear Sirs

Bright Station plc (the "Company")
Placing of 270,000,000 new ordinary shares of 1p each ("New Ordinary Shares") on
behalf of the Company at 5p per share (the "Issue Price") (the "Placing")

We refer to our telephone conversation and to the recent presentation made by
the Company to you in connection with the above fund raising (the
"Presentation").

It is currently proposed that 270,000,000 New Ordinary Shares will be issued in
connection with a placing and open offer to raise (pound)13.5 million (gross).
Under the proposed open offer (the "Open Offer"), up to 138,661,969 of the New
Ordinary Shares will be offered to qualifying shareholders (the "Open Offer
Shares") at the Issue Price on the basis of 4 Open Offer Shares for every 5
existing Ordinary Shares held. Accordingly, the Open Offer Shares are being
conditionally placed with institutional investors by Hoare Govett as agent for
the Company, subject to clawback under the Open Offer, and the remaining
131,338,031 New Ordinary Shares are being placed firm (the "Firm Shares"). The
New Ordinary Shares will rank pari passu in all respects with the Company's
existing ordinary shares.

It is currently proposed that a circular comprising a prospectus will be
published by the Company containing further details of the Placing and Open
Offer and other proposals (see below) on or before 29 June 2001 ("Circular").
The Circular will contain a notice convening an extraordinary general meeting of
the Company to approve the Placing and Open Offer and related proposals ("EGM").
Application will also be made for the New Ordinary Shares to be admitted to
listing on the Official List of the UK Listing Authority ("UKLA") and to trading
on the London Stock Exchange's main market for listed securities ("Admission").
On the basis that the Circular is published by the above date, it is expected
that Admission will become effective by no later than 23 July 2001.
<PAGE>

[LOGO OF HOARE GOVETT]

In addition to the Placing and Open Offer, it is also proposed that:

(a)     other than Mr Lomnitz, all of the current Directors will resign on
        Admission (Mr Lomnitz will remain as an executive Director). Messrs
        Jefferies (Non-executive Chairman), Hill (Chief Executive Officer),
        Canham (Chief Financial Officer) and Bair (non-executive Director) will
        be appointed to the Company's Board on Admission;

(b)     the total "pool" of share options capable of being issued under the
        Company's share option schemes will be increased from 10 per cent. of
        the issued share capital from time to time to 15 per cent;

(c)     the Company closes its OfficeShopper and Sparza operations, trading now
        having ceased;

(d)     between the date of this letter and completion of the Placing and Open
        Offer, the Company may be required to secure a temporary credit line and
        or debt bridge facility, which may be provided by some or all of the
        existing directors, to provide cash liquidity pending completion of the
        Placing and Open Offer;

(e)     in connection with the termination of their arrangements with the
        Company and the cancellation of their outstanding share options, Dan
        Wagner and Dave Mattey will be entitled, subject to completion of the
        Placing and Open Offer, to certain payments from the Company amounting
        to (pound)220,580 and (pound)274,337 respectively, which amounts they
        have agreed will be applied in paying up such number of new Ordinary
        Shares in the Company as equals the amount of their respective payments
        divided by the Issue Price;

(f)     as of 31 March 2001, the Group had available cash resources of
        (pound)7.4 million ((pound)16.3 million at 31 December 2000). The
        Company announced on 2 May 2001 that they had available cash of
        (pound)2.9 million as at 30 April 2001.

(g)     The audit report for the year ended 31 December 2000, while unqualified,
        contains an explanatory paragraph making reference to a fundamental
        uncertainty concerning the going concern basis of preparation of the
        financial statements being dependent upon the successful conclusion of
        bridge funding and the Placing and Open Offer.

We have pleasure, as agent for the Company, in now offering you the number of
Firm Shares set out in Box A above and the number of Open Offer Shares set out
in Box B above, (together "Placing Commitment") (free of all expenses) at the
Issue Price subject to the terms and conditions in this letter and in the Form
of Confirmation and to the Money Laundering Regulations 1993. The Open Offer
Shares (but not the Firm Shares) will be subject to recall under the terms of
the Open Offer and the right is accordingly reserved to qualifying shareholders
to recall before the closing date for the Open Offer all or any of the Open
Offer Shares conditionally placed with you.

This letter, the terms of which are conditional (amongst other things) on a
draft press announcement ("Press Announcement") being released by the Company
confirming securing Placing Commitments of (pound)13.5 million, sets out the
basis on which you undertake to accept the Placing Commitment offered to you by
the Company (as set out above).

The Placing Commitments shall be made on the terms of this letter and any
additional terms and conditions as may be required to comply with the
requirements of the City Code on Takeovers and Mergers, the Financial Services
Authority acting in its capacity as the United Kingdom Listing Authority
("UKLA") and the London Stock Exchange.

                                       2
<PAGE>

[LOGO OF HOARE GOVETT]

You should note that the Placing and Open Offer is not being underwritten.

The Placing

The Circular is currently expected to be published by the Company no later than
29 June 2001. You are therefore making your decision whether or not to
participate in the Placing solely on the basis of the information contained in
the Presentation and in this letter. The Presentation may not have contained all
information necessary for you to make an informed assessment of the Company and
its prospects. It is a term of your participation in the Placing that you accept
this fact. However, your participation in the Placing will be conditional on the
following:

(a)     an announcement in relation to the Placing and Open Offer and related
        proposals being made in accordance with the Listing Rules of the UKLA
        ("Listing Rules");

(b)     the Circular being published in accordance with the Financial Services
        Act 1986 ("FSA") and the Listing Rules and containing a working capital
        statement in accordance with 6.E.16 of the Listing Rules which is
        unqualified except as to Admission;

(c)     the Circular (a) complying with the Listing Rules and section 146 of the
        FSA and (b) in Hoare Govett's reasonable opinion being and remaining
        until Admission accurate and not misleading in any material respect;

(d)     In Hoare Govett's reasonable opinion, there being no information in or
        omissions from the Circular which, when taken as a whole, are materially
        inconsistent with the information or position contained in the
        Presentation;

(e)     the resolutions being passed at the EGM without amendment which Hoare
        Govett reasonably regards as material;

(f)     the resignation of all of the Company's Directors with effect from
        Admission (other than Mr Lomnitz who will remain as an executive
        director);

(g)     prior to Admission, so far as Hoare Govett is aware, no order having
        been made or resolution passed in respect of the Company or any of its
        material subsidiaries for its or their winding up or dissolution or for
        it or them to enter into any arrangement or composition for the benefit
        of creditors, or the appointment of a receiver, administrative receiver,
        trustee or similar officer;

(h)     commitments being received by the Company (or its duly appointed agents)
        pursuant to the Placing for (pound)13.5 million (gross);

(i)     Admission becoming effective by no later than 31 August 2001.

Hoare Govett and the Company reserve the right to agree and extend the time for
the satisfaction of any of the above conditions provided that such time may not
be extended beyond 31 August 2001. In that event, we will inform you at the
earliest opportunity and all subsequent dates mentioned in this letter will be
adjusted appropriately.

You agree that where a condition is expressed to be subject to Hoare Govett's
reasonable opinion:

(a)     Hoare Govett will exercise its opinion in its absolute discretion,
        having regard to the Placing and Open Offer as a whole, and not to
        placees' interests individually; and

                                       3
<PAGE>

[LOGO OF HOARE GOVETT]

(b)     provided that Hoare Govett exercises its discretion in good faith, it
        shall not incur any liability to you whatsoever.

By signing and returning the attached Form of Confirmation, you will confirm
your agreement with us, on the terms, and subject to the conditions, of this
letter and subject to the Memorandum and Articles of Association of the Company,
to subscribe under the Placing for the number of New Ordinary Shares set out in
Boxes A and B on page 1 of this letter at the Issue Price. Subject only to the
above conditions being satisfied or waived, your Placing Commitment will be
irrevocable.

Commissions

No commission will be payable to you in respect of your participation in the
Placing.

Hoare Govett will be paid a commission by the Company in relation to the Placing
equal to seven per cent. of the total funds raised under the Placing and Open
Offer. In order to retain cash within the Company and to align its interests
with those of institutional investors who are giving Placing Commitments, Hoare
Govett has agreed to take this commission principally in the form of equity at
the Issue Price provided that the total number of new Ordinary Shares received
by Hoare Govett shall be less than 3 per cent. of the then issued share capital
of the Company, with the remainder taken in cash.

Timetable

The date the Circular is posted will determine the timetable for the Open Offer
and EGM.

As soon as possible after the closing of the Open Offer, we will inform you of
the amount recalled by qualifying shareholders under the Open Offer and of the
number of Open Offer Shares and Firm Shares which are required to be taken up by
you ("Trade Confirmation"), together with the funds payment to be made.

Please note that ABN AMRO Equities (UK) Limited will act as our execution and
settlement agent. As such, all trades will be matched and settled with its CREST
Participant ID 590 (five nine zero). Trade confirmations will be issued by ABN
AMRO Equities (UK) Limited in the normal manner. Settlement will be free of all
charges, commissions and duties.

In the event that you have any queries in respect of settlement, please call
Rhys Thomas on 020 7678 7043 or Kevin Gant on 020 7678 0584.

Interest may be charged in respect of payments not received by us for value by
the required time referred to above at a rate equal to the London Inter-Bank
Offered Rate for seven day deposits in sterling plus five per cent. per annum as
determined by us.

In the event that the conditions are not fulfilled by 31 August 2001, the
Placing will not proceed and your rights and obligations under this letter shall
cease and determine. In such event, all funds delivered to us pursuant to this
letter will be returned to you by telegraphic transfer on your instructions or
by cheque.

Confirmations

By signing and returning the Form of Confirmation, you will be confirming that,
as a term of the acceptance of your Placing Commitment:

                                       4
<PAGE>

[LOGO OF HOARE GOVETT]

(a)     you have entered into this commitment solely on the basis of the
        information contained in the Presentation and this letter and you have
        not relied on any other representation or warranty in reaching your
        decision to acquire New Ordinary Shares under your Placing Commitment;

(b)     neither Hoare Govett nor the Company's sponsor, PricewaterhouseCoopers
        Corporate Finance, is acting for you in connection with the Placing and
        will not be responsible to you in respect of the Placing for providing
        protections afforded to their customers. In particular, you acknowledge
        that neither Hoare Govett nor PricewaterhouseCoopers Corporate Finance
        has made any recommendation to you in relation to the Placing and is not
        advising you with regard to the suitability or merits of the transaction
        or in connection with the arrangements set out in this letter. In
        addition, you acknowledge that you do not expect Hoare Govett or
        PricewaterhouseCoopers Corporate Finance to have any duties or
        responsibilities towards you similar or comparable to those imposed by
        The Securities and Futures Authority Limiteds rules requiring "best
        execution", "suitability" and "risk warnings";

(c)     that you, or each person or body on whose behalf you accept your Placing
        Commitment (in whole or in part) or to whom you allocate such Placing
        Commitment (in whole or in part) has capacity and authority to enter
        into and perform the terms of such commitment and that you are entitled
        to accept your Placing Commitment under the laws of all relevant
        jurisdictions which apply to you, have complied and will fully comply
        with all such laws in relation to your Placing Commitment (including,
        where applicable, the Money Laundering Regulations 1993) and have
        obtained all governmental and other consents which may be required in
        relation to your Placing Commitment;

(f)     none of the New Ordinary Shares has been or will be registered under the
        Securities Act of 1933 of the United States (as amended) (the
        "Securities Act") or any of the relevant securities, laws of Canada or
        Australia and may not be offered, sold, taken up or delivered, directly
        or indirectly, into or within the United States except pursuant to an
        exemption from, or in transactions not subject to, the registration
        requirements of the Securities Act, and you represent, warrant and
        undertake that unless you are taking up New Ordinary Shares pursuant to
        such an exemption: (i) you are not within the United States, Canada,
        Japan or Australia and you are not a US person or a citizen of Canada,
        Japan or Australia; (ii) you have not offered, sold or delivered and
        will not offer, sell or deliver any of the New Ordinary Shares to
        persons within the United States, directly or indirectly, or into
        Canada, Japan or Australia; (iii) neither you, your affiliates, nor any
        persons acting on your behalf, have engaged or will engage in any
        directed selling efforts with respect to the New Ordinary Shares; (iv)
        you are not taking up the New Ordinary Shares for resale in or into the
        United States, Canada, Japan or Australia; and (v) you will not
        distribute any offering material, directly or indirectly, in or into the
        United States, Canada, Japan or Australia or to any persons resident in
        such countries. Terms and expressions used in this paragraph have the
        meanings given to them by Regulation S made under the Securities Act;

(g)     you will not procure the acquisition of any New Ordinary Shares by or
        for the account of any person with an address in Australia, Canada or
        Japan, you will not offer any New Ordinary Shares to any such person and
        you will not otherwise treat any New Ordinary Shares in any manner that
        would contravene any applicable Australian, Canadian, Japanese or other
        securities legislation;

(g)     you are a person who falls within paragraph 11(3) of the Financial
        Services Act 1986 (Investment Advertisements)(Exemptions) Order 1996 or
        of the kind described in Article 8(1) of the Financial Services Act 1986
        (investment Advertisements)(Exemptions)(No.2) Order 1995;

(h)     all notices, remittances and documents of title are sent at your own
        risk;

                                       5
<PAGE>

[LOGO OF HOARE GOVETT]

(i)     that to the extent you are a shareholder in Bright Station Plc, you will
        vote in favour of the resolutions to be put forward at the EGM to effect
        the proposals (as contemplated);

(j)     Hoare Govett may at its absolute discretion refuse or scale back your
        application for a Placing Commitment by any amount it deems fit; and

(k)     that your remittance will be honoured on first presentation.

Without prejudice to any of the above undertakings, you agree that, to the
extent you are or become a distributor of New Ordinary Shares (including
underwriters, dealers and all other persons who receive remuneration in respect
of securities sold) during the "distribution compliance period" (as such term is
defined under Regulation S of the United States Securities Act of 1933 (as
amended)) you will make all offers and sales of New Ordinary Shares during the
"distribution compliance period" only in accordance with Regulation S or an
exemption under the United States Securities Act of 1933 (as amended) or
pursuant to an effective registration statement under the said act. In addition,
if you shall sell New Ordinary Shares to a distributor, dealer or a person
receiving a selling concession you shall procure the purchaser is subject to the
same restrictions on offers and sales that apply to you.

You agree that settlement, or a series of settlements, with an aggregate value
of (pound)8,500 or greater, settled by way of third party payments, for example,
bankers draft, building society cheque or a cheque drawn by someone other than
the placee, are liable to be subject to verification of identity requirements to
comply with the Money Laundering Regulations 1993. This may involve verification
of names and addresses through a reputable agency. By returning the Letter of
Confirmation, you undertake to provide such evidence of identity, within such
reasonable time (in each case to be determined at the discretion of Hoare
Govett) as may be requested to ensure compliance with the Money Laundering
Regulations 1993. If satisfactory evidence and identity has not been obtained
within a reasonable time, then such settlement will not proceed any further but
without prejudice to the rights of Hoare Govett or the Company to take
proceedings to recover any loss suffered by any of them as a result of failing
to provide satisfactory evidence. In such event the settlement monies (without
interest) will be returned to the bank or building society account from which
payment was made.

The presentation and any accompanying materials distributed by the Company were
directed solely at persons failing within certain exemptions to section 57 of
the Financial Services Act 1986 and it was not and is not intended that they
should be acted upon in any way by persons who do not have professional
experience in matters relating to investments and who do not fall within the
relevant exemptions.

Any forward looking statements, including any projections, contained in the
Presentation have not been commented or reported on by the Company's auditors
and accordingly may not necessarily be on a basis which is consistent with the
Company's accounting policies. Actual results may differ substantially from
figures used for planning purposes only and accordingly any such forward looking
projections or projections should not be relied on in any manner whatsoever.

Time is of the essence as regards obligations set out in this letter and the
Letter of Confirmation.

                                       6
<PAGE>

[LOGO OF HOARE GOVETT]

This letter, the enclosed Letter of Confirmation and any contract which has been
or may be entered into between you and the Company on the terms of or pursuant
to this letter will be governed by and construed in accordance with English Law
and you have agreed to submit to the exclusive jurisdiction of the English
courts as regards any claim, dispute or matter arising out of or relating to
such contract, this letter and/or the enclosed Letter of Confirmation.

Whether or not this allocation is to be split amongst several accounts, IT IS
IMPERATIVE THAT THE ENCLOSED FORM OF CONFIRMATION IS COMPLETED, SIGNED AND
RETURNED TO US (FOR THE ATTENTION OF KEVIN GANT) BY FACSIMILE (020 7678 1134) OR
BY HAND IN RESPECT OF YOUR TOTAL PLACING COMMITMENT NOT LATER THAN 5.00 P.M. on,
30 May 2001.

Yours faithfully

/s/ [SIGNATURE ILLEGIBLE]

For and on behalf of
Hoare Govett Limited
Andrew C Chapman
Director - Corporate Finance

                                       7
<PAGE>

[LOGO OF HOARE GOVETT]

                             FORM OF CONFIRMATION

Whether or not this allocation is to be split amongst several accounts. IT IS
IMPERATIVE THAT THIS FORM IS COMPLETED, SIGNED AND RETURNED TO US FOR THE
ATTENTION OF KEVIN GANT BY FACSIMILE (020 7678 1134) OR BY HAND IN RESPECT OF
THE TOTAL PLACING COMMITMENT SO AS TO BE RECEIVED BY US NOT LATER THAN 5:00 P.M.
ON 30 MAY 2001.

To:  Hoare Govett Limited                      Ref No: ABN3
     199 Bishopsgate
     London EC2M 3XW

For the attention of Kevin Gant
-------------------------------

                                   ---------------------------------------------
                                               Box A                      Box B
                                         Firm Shares          Open Offer Shares

                                          15,565,989                  16,434,011
                                   ---------------------------------------------

Dear Sirs

Bright Station plc (the "Company")
Placing of 270,000,000 new ordinary shares of 1p each ("New Ordinary Shares") on
behalf of the Company at 5p per share (the "Issue Price") (the "Placing")

We hereby acknowledge receipt of your letter of 29 May 2001 (the "Placing
Letter"), the definitions contained in which shall apply in this Form of
Confirmation. We confirm that subject to and only on the basis of the terms and
conditions contained therein, we irrevocably agree to subscribe for the number
of New Ordinary Shares set out in Box A and in Box B (subject, in the case of
Box B, to clawback from qualifying shareholders).

This Form of Confirmation is binding upon receipt by you of this form.

We understand and accept the contents of the Placing Letter and in making this
confirmation give the acknowledgement and agreement required by that letter and
the confirmations required by the paragraph headed "Confirmations" in that
letter.

In the event of us/the funds managed or advised by us being required to take up
any New Ordinary Shares in respect of our/their Placing Commitment, we agree to
pay on demand the full amount due in respect of such participation in accordance
with the terms of the Placing Letter.

Signed: /s/ [ILLEGIBLE SIGNATURE]                        30th May, 2001
       ----------------------------------              ----------

For and on behalf of ELECTRA QUOTED MANAGEMENT
                     --------------------------------

                                       8

<PAGE>

[LOGO OF HOARE GOVETT]                              Hoare Govett Limited
                                                    250 Bishopsgate
                                                    London EC2M 4AA
                                                    Telephone +44(0)20 7678 8000
                                                    Facsimile +44(0)20 7678 1587

STRICTLY PRIVATE AND CONFIDENTIAL

                                                        TOTAL PLACING COMMITMENT
                                           -------------------------------------
                                                     Box A                 Box B
                                               Firm Shares     Open Offer Shares

                                                 4,621,153             4,878,847
                                           -------------------------------------

                                                                     29 May 2001

Rob Giles Esq
Singer & Friedlander
21 New Street
London
EC2M 4HR

For the attention of: Rob Giles

Dear Sirs

Bright Station plc ("the Company")
Placing of 270,000,000 new ordinary shares of 1p each ("New Ordinary Shares") on
behalf of the Company at 5p per share (the "Issue Price") (the "Placing")

We refer to our telephone conversation and to the recent presentation made by
the Company to you in connection with the above fund raising (the
"Presentation").

It is currently proposed that 270,000,000 New Ordinary Shares will be issued in
connection with a placing and open offer to raise (pound)13.5 million (gross).
Under the proposed open offer (the "Open Offer"), up to 138,661,969 of the New
Ordinary Shares will be offered to qualifying shareholders (the "Open Offer
Shares") at the Issue Price on the basis of 4 Open Offer Shares for every 5
existing Ordinary Shares held. Accordingly, the Open Offer Shares are being
conditionally placed with institutional investors by Hoare Govett as agent for
the Company, subject to clawback under the Open Offer, and the remaining
131,338,031 New Ordinary Shares are being placed firm (the "Firm Shares"). The
New Ordinary Shares will rank pari passu in all respects with the Company's
existing ordinary shares.

It is currently proposed that a circular comprising a prospectus will be
published by the Company containing further details of the Placing and Open
Offer and other proposals (see below) on or before 29 June 2001 ("Circular").
The Circular will contain a notice convening an extraordinary general meeting of
the Company to approve the Placing and Open Offer and related proposals ("EGM").
Application will also be made for the New Ordinary Shares to be admitted to
listing on the Official List of the UK Listing Authority ("UKLA") and to trading
on the London Stock Exchange's main market for listed securities ("Admission").
On the basis that the Circular is published by the above date, it is expected
that Admission will become effective by no later than 23 July 2001.

<PAGE>

[LOGO OF HOARE GOVETT]

In addition to the Placing and Open Offer, it is also proposed that:

(a)     other than Mr Lomnitz, all of the current Directors will resign on
        Admission (Mr Lomnitz will remain as an executive Director). Messrs
        Jefferies (Non-executive Chairman), Hill (Chief Executive Officer),
        Canham (Chief Financial Officer) and Bair (non-executive Director) will
        be appointed to the Company's Board on Admission;

(b)     the total "pool" of share options capable of being issued under the
        Company's share option schemes will be increased from 10 per cent, of
        the issued share capital from time to time to 15 per cent;

(c)     the Company closes its OfficeShopper and Sparza operations, trading now
        having ceased;

(d)     between the date of this letter and completion of the Placing and Open
        Offer, the Company may be required to secure a temporary credit line and
        or debt bridge facility, which may be provided by some or all of the
        existing directors, to provide cash liquidity pending completion of the
        Placing and Open Offer;

(e)     in connection with the termination of their arrangements with the
        Company and the cancellation of their outstanding share options, Dan
        Wagner and Dave Mattey will be entitled, subject to completion of the
        Placing and Open Offer, to certain payments from the Company amounting
        to (pound)220,580 and (pound)274,337 respectively, which amounts they
        have agreed will be applied in paying up such number of new Ordinary
        Shares in the Company as equals the amount of their respective payments
        divided by the Issue Price;

(f)     as of 31 March 2001, the Group had available cash resources of
        (pound)7.4 million ((pound)16.3 million at 31 December 2000). The
        Company announced on 2 May 2001 that they had available cash of
        (pound)2.9 million as at 30 April 2001.

(g)     The audit report for the year ended 31 December 2000, while unqualified,
        contains an explanatory paragraph making reference to a fundamental
        uncertainty concerning the going concern basis of preparation of the
        financial statements being dependent upon the successful conclusion of
        bridge funding and the Placing and Open Offer.

We have pleasure, as agent for the Company, in now offering you the number of
Firm Shares set out in Box A above and the number of Open Offer Shares set out
in Box B above, (together "Placing Commitment") (free of all expenses) at the
Issue Price subject to the terms and conditions in this letter and in the Form
of Confirmation and to the Money Laundering Regulations 1993. The Open Offer
Shares (but not the Firm Shares) will be subject to recall under the terms of
the Open Offer and the right is accordingly reserved to qualifying shareholders
to recall before the closing date for the Open Offer all or any of the Open
Offer Shares conditionally placed with you.

This letter, the terms of which are conditional (amongst other things) on a
draft press announcement ("Press Announcement") being released by the Company
confirming securing Placing Commitments of (pound)13.5 million, sets out the
basis on which you undertake to accept the Placing Commitment offered to you by
the Company (as set out above).

The Placing Commitments shall be made on the terms of this letter and any
additional terms and conditions as may be required to comply with the
requirements of the City Code on Takeovers and Mergers, the Financial Services
Authority acting in its capacity as the United Kingdom Listing Authority
("UKLA") and the London Stock Exchange.

                                       2
<PAGE>

[LOGO OF HOARE GOVETT]

You should note that the Placing and Open Offer is not being underwritten.

The Placing

The Circular is currently expected to be published by the Company no later than
29 June 2001. You are therefore making your decision whether or not to
participate In the Placing solely on the basis of the information contained in
the Presentation and in this letter. The Presentation may not have contained all
Information necessary for you to make an informed assessment of the Company and
its prospects. It is a term of your participation in the Placing that you accept
this fact. However, your participation in the Placing will be conditional on the
following:

(a)     an announcement in relation to the Placing and Open Offer and related
        proposals being made in accordance with the Listing Rules of the UKLA
        ("Listing Rules");

(b)     the Circular being published in accordance with the Financial Services
        Act 1986 ("FSA") and the Listing Rules and containing a working capital
        statement in accordance with 6.E.16 of the Listing Rules which is
        unqualified except as to Admission;

(c)     the Circular (a) complying with the Listing Rules and section 146 of the
        FSA and (b) in Hoare Govett's reasonable opinion being and remaining
        until Admission accurate and not misleading in any material respect;

(d)     In Hoare Govett's reasonable opinion, there being no information in or
        omissions from the Circular which, when taken as a whole, are materially
        inconsistent with the information or position contained In the
        Presentation;

(e)     the resolutions being passed at the EGM without amendment which Hoare
        Govett reasonably regards as material;

(f)     the resignation of all of the Company's Directors with effect from
        Admission (other than Mr Lomnitz who will remain as an executive
        director);

(g)     prior to Admission, so far as Hoare Govett is aware, no order having
        been made or resolution passed in respect of the Company or any of its
        material subsidiaries for Its or their winding up or dissolution or for
        it or them to enter into any arrangement or composition for the benefit
        of creditors, or the appointment of a receiver, administrative receiver,
        trustee or similar officer;

(h)     commitments being received by the Company (or its duly appointed agents)
        pursuant to the Placing for (pound)13.5 million (gross);

(i)     Admission becoming effective by no later than 31 August 2001.

Hoare Govett and the Company reserve the right to agree and extend the time for
the satisfaction of any of the above conditions provided that such time may not
be extended beyond 31 August 2001. In that event, we will inform you at the
earliest opportunity and all subsequent dates mentioned in this letter will be
adjusted appropriately.

You agree that where a condition is expressed to be subject to Hoare Govetts
reasonable opinion:

(a)     Hoare Govett will exercise its opinion in its absolute discretion,
        having regard to the Placing and Open Offer as a whole, and not to
        placees interests individually; and

                                       3
<PAGE>

[LOGO OF HOARE GOVETT]

(b)     provided that Hoare Govett exercises its discretion in good faith, it
        shall not incur any liability to you whatsoever.

By signing and returning the attached Form of Confirmation, you will confirm
your agreement with us, on the terms, and subject to the conditions, of this
letter and subject to the Memorandum and Articles of Association of the Company,
to subscribe under the Placing for the number of New Ordinary Shares set out in
Boxes A and B on page 1 of this Letter at the Issue Price. Subject only to the
above conditions being satisfied or waived, your Placing Commitment will be
irrevocable.

CommissIons

No commission will be payable to you in respect of your participation in the
Placing.

Hoare Govett will be paid a commission by the Company in relation to the Placing
equal to seven per cent. of the total funds raised under the Placing and Open
Offer. In order to retain cash within the Company and to align its interests
with those of institutional investors who are giving Placing Commitments, Hoare
Govett has agreed to take this commission principally in the form of equity at
the Issue Price provided that the total number of new Ordinary Shares received
by Hoare Govett shall be less than 3 per cent. of the then issued share capital
of the Company, with the remainder taken in cash.

Timetable

The date the Circular is posted will determine the timetable for the Open Offer
and EGM.

As soon as possible after the closing of the Open Offer, we will inform you of
the amount recalled by qualifying shareholders under the Open Offer and of the
number of Open Offer Shares and Firm Shares which are required to be taken up by
you ("Trade Confirmation"), together with the funds payment to be made.

Please note that ABN AMRO Equities (UK) Limited will act as our execution and
settlement agent. As such, all trades will be matched and settled with its CREST
Participant ID 590 (five nine zero). Trade confirmations will be issued by ABN
AMRO Equities (UK) Limited in the normal manner. Settlement will be free of all
charges, commissions and duties.

In the event that you have any queries in respect of settlement, please call
Rhys Thomas on 020 7678 7043 or Kevin Gant on 020 7678 0584.

Interest may be charged in respect of payments not received by us for value by
the required time referred to above at a rate equal to the London Inter-Bank
Offered Rate for seven day deposits in sterling plus five per cent. per annum as
determined by us.

In the event that the conditions are not fulfilled by 31 August 2001, the
Placing will not proceed and your rights and obligations under this letter shall
cease and determine. In such event, all funds delivered to us pursuant to this
letter will be returned to you by telegraphic transfer on your instructions or
by cheque.

Confirmations

By signing and returning the Form of Confirmation, you will be confirming that,
as a term of the acceptance of your Placing Commitment:

                                       4
<PAGE>

[LOGO OF HOARE GOVETT]

(a)     you have entered into this commitment solely on the basis of the
        information contained in the Presentation and this letter and you have
        not relied on any other representation or warranty in reaching your
        decision to acquire New Ordinary Shares under your Placing Commitment;

(b)     neither Hoare Govett nor the Company's sponsor, PricewaterhouseCoopers
        Corporate Finance, is acting for you in connection with the Placing and
        will not be responsible to you in respect of the Placing for providing
        protections afforded to their customers. In particular, you acknowledge
        that neither Hoare Govett nor PricewaterhouseCoopers Corporate Finance
        has made any recommendation to you in relation to the Placing and is not
        advising you with regard to the suitability or merits of the transaction
        or in connection with the arrangements set out In this letter. In
        addition, you acknowledge that you do not expect Hoare Govett or
        PricewaterhouseCoopers Corporate Finance to have any duties or
        responsibilities towards you similar or comparable to those imposed by
        The Securities and Futures Authority Limited's rules requiring "best
        execution", "suitability" and "risk warnings";

(c)     that you, or each person or body on whose behalf you accept your Placing
        Commitment (in whole or in part) or to whom you allocate such Placing
        Commitment (in whole or in part) has capacity and authority to enter
        into and perform the terms of such commitment and that you are entitled
        to accept your Placing Commitment under the laws of all relevant
        jurisdictions which apply to you, have complied and will fully comply
        with all such laws in relation to your Placing Commitment (including,
        where applicable, the Money Laundering Regulations 1993) and have
        obtained all governmental and other consents which may be required in
        relation to your Placing Commitment;

(f)     none of the New Ordinary Shares has been or will be registered under the
        Securities Act of 1933 of the United States (as amended) (the
        "Securities Act") or any of the relevant securities, laws of Canada or
        Australia and may not be offered, sold, taken up or delivered, directly
        or Indirectly, into or within the United States except pursuant to an
        exemption from, or in transactions not subject to, the registration
        requirements of the Securities Act, and you represent, warrant and
        undertake that unless you are taking up New Ordinary Shares pursuant to
        such an exemption: (i) you are not within the United States, Canada,
        Japan or Australia and you are not a US person or a citizen of Canada,
        Japan or Australia; (ii) you have not offered, sold or delivered and
        will not offer, soil or deliver any of the New Ordinary Shares to
        persons within the United States, directly or indirectly, or into
        Canada, Japan or Australia; (iii) neither you, your affiliates, nor any
        persons acting on your behalf, have engaged or will engage in any
        directed selling efforts with respect to the New Ordinary Shares; (iv)
        you are not taking up the New Ordinary Shares for resale in or into the
        United States, Canada, Japan or Australia; and (v) you will not
        distribute any offering material, directly or indirectly, in or into the
        United States, Canada, Japan or Australia or to any persons resident in
        such countries. Terms and expressions used in this paragraph have the
        meanings given to them by Regulation S made under the Securities Act;

(g)     you will not procure the acquisition of any New Ordinary Shares by or
        for the account of any person with an address in Australia, Canada or
        Japan, you will not otter any New Ordinary Shares to any such person and
        you will not otherwise treat any New Ordinary Shares in any manner that
        would contravene any applicable Australian, Canadian, Japanese or other
        securities legislation;

(g)     you are a person who falls within paragraph 11(3) of the Financial
        Services Act 1986 (Investment Advertisements)(Exemptions) Order 1996 or
        of the kind described in Article 8(1) of the Financial Services Act 1986
        (investment Advertisements)(Exemptions)(No.2) Order 1995;

(h)     all notices, remittances and documents of title are sent at your own
        risk;

                                       5
<PAGE>

[LOGO OF HOARE GOVETT]

(i)     that to the extent you are a shareholder in Bright Station Plc, you will
        vote in favour of the resolutions to be put forward at the EGM to effect
        the proposals (as contemplated);

(j)     Hoare Govett may at its absolute discretion refuse or scale back your
        application for a Placing Commitment by any amount it deems fit; and

(k)     that your remittance will be honoured on first presentation.

Without prejudice to any of the above undertakings, you agree that, to the
extent you are or become a distributor of New Ordinary Shares (including
underwriters, dealers and all other persons who receive remuneration in respect
of securities sold) during the "distribution compliance period" (as such term is
defined under Regulation S of the United States Securities Act of 1933 (as
amended)) you will make all offers and sales of New Ordinary Shares during the
"distribution compliance period" only in accordance with Regulation S or an
exemption under the United States Securities Act of 1933 (as amended) or
pursuant to an effective registration statement under the said act. In addition,
if you shall sell New Ordinary Shares to a distributor, dealer or a person
receiving a selling concession you shall procure the purchaser is subject to the
same restrictions on offers and sales that apply to you.

You agree that settlement, or a series of settlements, with an aggregate value
of (pound)8,500 or greater, settled by way of third party payments, for example,
bankers draft, building society cheque or a cheque drawn by someone other than
the placee, are liable to be subject to verification of identity requirements to
comply with the Money Laundering Regulations 1993. This may involve verification
of names and addresses through a reputable agency. By returning the Letter of
Confirmation, you undertake to provide such evidence of identity, within such
reasonable time (in each case to be determined at the discretion of Hoare
Govett) as may be requested to ensure compliance with the Money Laundering
Regulations 1993. If satisfactory evidence and identity has not been obtained
within a reasonable time, then such settlement will not proceed any further but
without prejudice to the rights of Hoare Govett or the Company to take
proceedings to recover any loss suffered by any of them as a result of failing
to provide satisfactory evidence. In such event the settlement monies (without
interest) will be returned to the bank or building society account from which
payment was made.

The presentation and any accompanying materials distributed by the Company were
directed solely at persons falling within certain exemptions to section 57 of
the Financial Services Act 1986 and it was not and is not intended that they
should be acted upon in any way by persons who do not have professional
experience in matters relating to investments and who do not fall within the
relevant exemptions.

Any forward looking statements, including any projections, contained in the
Presentation have not been commented or reported on by the Company's auditors
and accordingly may not necessarily be on a basis which is consistent with the
Company's accounting policies. Actual results may differ substantially from
figures used for planning purposes only and accordingly any such forward looking
projections or projections should not be relied on in any manner whatsoever.

Time is of the essence as regards obligations set out in this letter and the
Letter of Confirmation.

                                       6
<PAGE>

[LOGO OF HOARE GOVETT]

This letter, the enclosed Letter of Confirmation and any contract which has been
or may be entered into between you and the Company on the terms of or pursuant
to this letter will be governed by and construed in accordance with English Law
and you have agreed to submit to the exclusive jurisdiction of the English
courts as regards any claim, dispute or matter arising out of or relating to
such contract, this letter and/or the enclosed Letter of Confirmation.

Whether or not this allocation is to be split amongst several accounts, IT IS
IMPERATIVE THAT THE ENCLOSED FORM OF CONFIRMATION IS COMPLETED, SIGNED AND
RETURNED TO US (FOR THE ATTENTION OF KEVIN GANT) BY FACSIMILE (020 7678 1134) OR
BY HAND IN RESPECT OF YOUR TOTAL PLACING COMMITMENT NOT LATER THAN 5.00 P.M. on,
30 May 2001.

Yours faithfully

/s/ [SIGNATURE ILLEGIBLE]

For and on behalf of
Hoare Govett Limited
Andrew C Chapman
Director -- Corporate Finance
<PAGE>

[LOGO OF HOARE GOVETT]

                             FORM OF CONFIRMATION

Whether or not this allocation is to be split amongst several accounts, IT IS
IMPERATIVE THAT THIS FORM IS COMPLETED, SIGNED AND RETURNED TO US FOR THE
ATTENTION OF KEVIN GANT BY FACSIMILE (020 7678 1134) OR BY HAND IN RESPECT OF
THE TOTAL PLACING COMMITMENT SO AS TO BE RECEIVED BY US NOT LATER THAN 5:00 P.M.
ON 30 MAY 2001.

To:  Hoare Govett Limited                      Ref No.: ABN11
     199 Bishopsgate
     London EC2M 3XW

For the attention of Kevin Gant
-------------------------------

                                   ---------------------------------------------
                                               Box A                      Box B
                                         Firm Shares          Open Offer Shares

                                           4,621,153                   4,878,847
                                   ---------------------------------------------

Dear Sirs

Bright Station plc (the "Company")
Placing of 270,000,000 new ordinary shares of 1p each ("New Ordinary Shares") on
behalf of the Company at 5p per share (the "Issue Price") (the "Placing")

We hereby acknowledge receipt of your letter of 29 May 2001 (the "Placing
Letter"), the definitions contained in which shall apply in this Form of
Confirmation. We confirm that subject to and only on the basis of the terms and
conditions contained therein, we irrevocably agree to subscribe for the number
of New Ordinary Shares set out in Box A and in Box B (subject, in the case of
Box B, to clawback from qualifying shareholders).

This Form of Confirmation is binding upon receipt by you of this form.

We understand and accept the contents of the Placing Letter and in making this
confirmation give the acknowledgement and agreement required by that letter and
the confirmations required by the paragraph headed "Confirmations" in that
letter.

In the event of us/the funds managed or advised by us being required to take up
any New Ordinary Shares in respect of our/their Placing Commitment, we agree to
pay on demand the full amount due in respect of such participation in accordance
with the terms of the Placing Letter.

Signed: /s/ [ILLEGIBLE SIGNATURE]                        30/5, 2001
       ----------------------------------              ----------

For and on behalf of
                     --------------------------------

                             For and on behalf of
                             Singer & Friedlander
                             Investment Management Ltd

                                       8

<PAGE>

[LOGO OF HOARE GOVETT]

                                                    Hoare Govett Limited
                                                    250 Bishopsgate
                                                    London EC2M 4AA
                                                    Telephone +44(0)20 7678 8000
                                                    Facsimile +44(0)20 7678 1587

STRICTLY PRIVATE AND CONFIDENTIAL

                                                        TOTAL PLACING COMMITMENT
                                           -------------------------------------
                                                     Box A                 Box B
                                               Firm Shares     Open Offer Shares

                                                15,565,989            16,434,011
                                           -------------------------------------
                                                                     29 May 2001

Stuart Fraser Esq
Shell Pension Fund
Shell House
London
SE1 7NA

For the attention of: Stuart Fraser

Dear Sirs

Bright Station plc ("the Company")
Placing of 270,000,000 new ordinary shares of 1p each ("New Ordinary Shares") on
behalf of the Company at 5p per share (the "Issue Price") (the "Placing")

We refer to our telephone conversation and to the recent presentation made by
the Company to you in connection with the above fund raising (the
"Presentation").

It is currently proposed that 270,000,000 New Ordinary Shares will be issued in
connection with a placing and open offer to raise (pound)13.5 million (gross).
Under the proposed open offer (the "Open Offer"), up to 138,661,969 of the New
Ordinary Shares will be offered to qualifying shareholders (the "Open Offer
Shares") at the Issue Price on the basis of 4 Open Offer Shares for every 5
existing Ordinary Shares held. Accordingly, the Open Offer Shares are being
conditionally placed with institutional investors by Hoare Govett as agent for
the Company, subject to clawback under the Open Offer, and the remaining
131,338,031 New Ordinary Shares are being placed firm (the "Firm Shares"). The
New Ordinary Shares will rank pari passu in all respects with the Company's
existing ordinary shares.

It is currently proposed that a circular comprising a prospectus will be
published by the Company containing further details of the Placing and Open
Offer and other proposals (see below) on or before 29 June 2001 ("Circular").
The Circular will contain a notice convening an extraordinary general meeting of
the Company to approve the Placing and Open Offer and related proposals ("EGM").
Application will also be made for the New Ordinary Shares to be admitted to
listing on the Official List of the UK Listing Authority ("UKLA") and to trading
on the London Stock Exchange's main market for listed securities ("Admission").
On the basis that the Circular is published by the above date, it is expected
that Admission will become effective by no later than 23 July 2001.
<PAGE>

[LOGO OF HOARE GOVETT]

In addition to the Placing and Open Offer, it is also proposed that:

(a)     other than Mr Lomnitz, all of the current Directors will resign on
        Admission (Mr Lomnitz will remain as an executive Director). Messrs
        Jefferies (Non-executive Chairman), Hill (Chief Executive Officer),
        Canharn (Chief Financial Officer) and Bair (non-executive Director) will
        be appointed to the Companys Board on Admission;

(b)     the total "pool" of share options capable of being issued under the
        Company's share option schemes will be increased from 10 per cent, of
        the issued share capital from time to time to 15 per cent;

(c)     the Company closes its OfficeShopper and Sparza operations, trading now
        having ceased;

(d)     between the date of this letter and completion of the Placing and Open
        Offer, the Company may be required to secure a temporary credit line and
        or debt bridge facility, which may be provided by some or all of the
        existing directors, to provide cash liquidity pending completion of the
        Placing and Open Offer;

(e)     in connection with the termination of their arrangements with the
        Company and the cancellation of their outstanding share options, Dan
        Wagner and Dave Mattey will be entitled, subject to completion of the
        Placing and Open Offer, to certain payments from the Company amounting
        to (pound)220,580 and (pound)274,337 respectively, which amounts they
        have agreed will be applied in paying up such number of new Ordinary
        Shares in the Company as equals the amount of their respective payments
        divided by the Issue Price;

(f)     as of 31 March 2001, the Group had available cash resources of
        (pound)7.4 million ((pound)16.3 million at 31 December 2000). The
        Company announced on 2 May 2001 that they had available cash of
        (pound)2.9 million as at 30 April 2001.

(g)     The audit report for the year ended 31 December 2000, while unqualified,
        contains an explanatory paragraph making reference to a fundamental
        uncertainty concerning the going concern basis of preparation of the
        financial statements being dependent upon the successful conclusion of
        bridge funding and the Placing and Open Offer.

We have pleasure, as agent for the Company, in now offering you the number of
Firm Shares set out in Box A above and the number of Open Offer Shares set out
in Box B above, (together "Placing Commitment") (free of all expenses) at the
Issue Price subject to the terms and conditions in this letter and in the Form
of Confirmation and to the Money Laundering Regulations 1993. The Open Offer
Shares (but not the Firm Shares) will be subject to recall under the terms of
the Open Offer and the right is accordingly reserved to qualifying shareholders
to recall before the closing date for the Open Offer all or any of the Open
Offer Shares conditionally placed with you.

This letter, the terms of which are conditional (amongst other things) on a
draft press announcement ("Press Announcement") being released by the Company
confirming securing Placing Commitments of (pound)13.5 million, sets out the
basis on which you undertake to accept the Placing Commitment offered to you by
the Company (as set out above).

The Placing Commitments shall be made on the terms of this letter and any
additional terms and conditions as may be required to comply with the
requirements of the City Code on Takeovers and Mergers, the Financial Services
Authority acting in its capacity as the United Kingdom Listing Authority
("UKLA") and the London Stock Exchange.

                                       2
<PAGE>

[LOGO OF HOARE GOVETT]

You should note that the Placing and Open Offer is not being underwritten.

The Placing

The Circular is currently expected to be published by the Company no later than
29 June 2001. You are therefore making your decision whether or not to
participate in the Placing solely on the basis of the information contained in
the Presentation and in this letter. The Presentation may not have contained all
Information necessary for you to make an informed assessment of the Company and
its prospects. It is a term of your participation in the Placing that you accept
this fact. However, your participation in the Placing will be conditional on the
following:

(a)     an announcement in relation to the Placing and Open Offer and related
        proposals being made in accordance with the Listing Rules of the UKLA
        ("Listing Rules");

(b)     the Circular being published in accordance with the Financial Services
        Act 1986 ("FSA") and the Listing Rules and containing a working capital
        statement in accordance with 6.E.16 of the Listing Rules which is
        unqualified except as to Admission;

(c)     the Circular (a) complying with the Listing Rules and section 146 of the
        FSA and (b) in Hoare Govett's reasonable opinion being and remaining
        until Admission accurate and not misleading in any material respect;

(d)     In Hoare Govett's reasonable opinion, there being no information in or
        omissions from the Circular which, when taken as a whole, are materially
        inconsistent with the information or position contained In the
        Presentation;

(e)     the resolutions being passed at the EGM without amendment which Hoare
        Govett reasonably regards as material;

(f)     the resignation of all of the Company's Directors with effect from
        Admission (other than Mr Lomnitz who will remain as an executive
        director);

(g)     prior to Admission, so far as Hoare Govett is aware, no order having
        been made or resolution passed in respect of the Company or any of its
        material subsidiaries for its or their winding up or dissolution or for
        it or them to enter into any arrangement or composition for the benefit
        of creditors, or the appointment of a receiver, administrative receiver,
        trustee or similar officer;

(h)     commitments being received by the Company (or its duly appointed agents)
        pursuant to the Placing for (pound)13.5 million (gross);

(i)     Admission becoming effective by no later than 31 August 2001.

Hoare Govett and the Company reserve the right to agree and extend the time for
the satisfaction of any of the above conditions provided that such time may not
be extended beyond 31 August 2001. In that event, we will inform you at the
earliest opportunity and all subsequent dates mentioned in this letter will be
adjusted appropriately.

You agree that where a condition is expressed to be subject to Hoare Govett's
reasonable opinion:

(a)     Hoare Govett will exercise its opinion in its absolute discretion,
        having regard to the Placing and Open Offer as a whole, and not to
        placees' interests individually; and

                                       3
<PAGE>

[LOGO OF HOARE GOVETT]

(b)     provided that Hoare Govett exercises its discretion in good faith, it
        shall not incur any liability to you whatsoever.

By signing and returning the attached Form of Confirmation, you will confirm
your agreement with us, on the terms, and subject to the conditions, of this
letter and subject to the Memorandum and Articles of Association of the Company,
to subscribe under the Placing for the number of New Ordinary Shares set out in
Boxes A and B on page 1 of this Letter at the Issue Price. Subject only to the
above conditions being satisfied or waived, your Placing Commitment will be
irrevocable.

Commissions

No commission will be payable to you in respect of your participation in the
Placing.

Hoare Govett will be paid a commission by the Company in relation to the Placing
equal to seven per cent. of the total funds raised under the Placing and Open
Offer. In order to retain cash within the Company and to align its interests
with those of institutional investors who are giving Placing Commitments, Hoare
Govett has agreed to take this commission principally in the form of equity at
the Issue Price provided that the total number of new Ordinary Shares received
by Hoare Govett shall be less than 3 per cent. of the then issued share capital
of the Company, with the remainder taken in cash.

Timetable

The date the Circular is posted will determine the timetable for the Open Offer
and EGM.

As soon as possible after the closing of the Open Offer, we will inform you of
the amount recalled by qualifying shareholders under the Open Offer and of the
number of Open Offer Shares and Firm Shares which are required to be taken up by
you ("Trade Confirmation"), together with the funds payment to be made.

Please note that ABN AMRO Equities (UK) Limited will act as our execution and
settlement agent. As such, all trades will be matched and settled with its CREST
Participant ID 590 (five nine zero). Trade confirmations will be issued by ABN
AMRO Equities (UK) Limited in the normal manner. Settlement will be free of all
charges, commissions and duties.

In the event that you have any queries in respect of settlement, please call
Rhys Thomas on 020 7678 7043 or Kevin Gant on 020 7678 0584.

Interest may be charged in respect of payments not received by us for value by
the required time referred to above at a rate equal to the London Inter-Bank
Offered Rate for seven day deposits in sterling plus five per cent. per annum as
determined by us.

In the event that the conditions are not fulfilled by 31 August 2001, the
Placing will not proceed and your rights and obligations under this letter shall
cease and determine. In such event, all funds delivered to us pursuant to this
letter will be returned to you by telegraphic transfer on your instructions or
by cheque.

Confirmations

By signing and returning the Form of Confirmation, you will be confirming that,
as a term of the acceptance of your Placing Commitment:

                                       4
<PAGE>

[LOGO OF HOARE GOVETT]

(a)     you have entered into this commitment solely on the basis of the
        information contained in the Presentation and this letter and you have
        not relied on any other representation or warranty in reaching your
        decision to acquire New Ordinary Shares under your Placing Commitment;

(b)     neither Hoare Govett nor the Company's sponsor, PricewaterhouseCoopers
        Corporate Finance, is acting for you in connection with the Placing and
        will not be responsible to you in respect of the Placing for providing
        protections afforded to their customers. In particular, you acknowledge
        that neither Hoare Govett nor PricewaterhouseCoopers Corporate Finance
        has made any recommendation to you in relation to the Placing and is not
        advising you with regard to the suitability or merits of the transaction
        or in connection with the arrangements set out in this letter. In
        addition, you acknowledge that you do not expect Hoare Govett or
        PricewaterhouseCoopers Corporate Finance to have any duties or
        responsibilities towards you similar or comparable to those imposed by
        The Securities and Futures Authority Limited's rules requiring "best
        execution", "suitability" and "risk warnings";

(c)     that you, or each person or body on whose behalf you accept your Placing
        Commitment (in whole or in part) or to whom you allocate such Placing
        Commitment (in whole or in part) has capacity and authority to enter
        into and perform the terms of such commitment and that you are entitled
        to accept your Placing Commitment under the laws of all relevant
        jurisdictions which apply to you, have complied and will fully comply
        with all such laws in relation to your Placing Commitment (including,
        where applicable, the Money Laundering Regulations 1993) and have
        obtained all governmental and other consents which may be required in
        relation to your Placing Commitment;

(f)     none of the New Ordinary Shares has been or will be registered under the
        Securities Act of 1933 of the United States (as amended) (the
        "Securities Act") or any of the relevant securities, laws of Canada or
        Australia and may not be offered, sold, taken up or delivered, directly
        or indirectly, into or within the United States except pursuant to an
        exemption from, or in transactions not subject to, the registration
        requirements of the Securities Act, and you represent, warrant and
        undertake that unless you are taking up New Ordinary Shares pursuant to
        such an exemption: (i) you are not within the United States, Canada,
        Japan or Australia and you are not a US person or a citizen of Canada,
        Japan or Australia; (ii) you have not offered, sold or delivered and
        will not offer, sell or deliver any of the New Ordinary Shares to
        persons within the United States, directly or indirectly, or into
        Canada, Japan or Australia; (iii) neither you, your affiliates, nor any
        persons acting on your behalf, have engaged or will engage in any
        directed selling efforts with respect to the New Ordinary Shares; (iv)
        you are not taking up the New Ordinary Shares for resale in or into the
        United States, Canada, Japan or Australia; and (v) you will not
        distribute any offering material, directly or indirectly, in or into the
        United States, Canada, Japan or Australia or to any persons resident in
        such countries. Terms and expressions used in this paragraph have the
        meanings given to them by Regulation S made under the Securities Act;

(g)     you will not procure the acquisition of any New Ordinary Shares by or
        for the account of any person with an address in Australia, Canada or
        Japan, you will not offer any New Ordinary Shares to any such person and
        you will not otherwise treat any New Ordinary Shares in any manner that
        would contravene any applicable Australian, Canadian, Japanese or other
        securities legislation;

(g)     you are a person who falls within paragraph 11(3) of the Financial
        Services Act 1986 (Investment Advertisements)(Exemptions) Order 1996 or
        of the kind described in Article 8(1) of the Financial Services Act 1986
        (investment Advertisements)(Exemptions)(No.2) Order 1995;

(h)     all notices, remittances and documents of title are sent at your own
        risk;

                                       5
<PAGE>

[LOGO OF HOARE GOVETT]

(i)     that to the extent you are a shareholder in Bright Station Plc, you will
        vote in favour of the resolutions to be put forward at the EGM to effect
        the proposals (as contemplated);

(j)     Hoare Govett may at its absolute discretion refuse or scale back your
        application for a Placing Commitment by any amount it deems fit; and

(k)     that your remittance will be honoured on first presentation.

Without prejudice to any of the above undertakings, you agree that, to the
extent you are or become a distributor of New Ordinary Shares (including
underwriters, dealers and all other persons who receive remuneration in respect
of securities sold) during the "distribution compliance period" (as such term is
defined under Regulation S of the United States Securities Act of 1933 (as
amended)) you will make all offers and sales of New Ordinary Shares during the
"distribution compliance period" only in accordance with Regulation S or an
exemption under the United States Securities Act of 1933 (as amended) or
pursuant to an effective registration statement under the said act. In addition,
if you shall sell New Ordinary Shares to a distributor, dealer or a person
receiving a selling concession you shall procure the purchaser is subject to the
same restrictions on offers and sales that apply to you.

You agree that settlement, or a series of settlements, with an aggregate value
of (pound)8,500 or greater, settled by way of third party payments, for example,
bankers draft, building society cheque or a cheque drawn by someone other than
the placee, are liable to be subject to verification of identity requirements to
comply with the Money Laundering Regulations 1993. This may involve verification
of names and addresses through a reputable agency. By returning the Letter of
Confirmation, you undertake to provide such evidence of identity, within such
reasonable time (in each case to be determined at the discretion of Hoare
Govett) as may be requested to ensure compliance with the Money Laundering
Regulations 1993. If satisfactory evidence and identity has not been obtained
within a reasonable time, then such settlement will not proceed any further but
without prejudice to the rights of Hoare Govett or the Company to take
proceedings to recover any loss suffered by any of them as a result of failing
to provide satisfactory evidence. In such event the settlement monies (without
interest) will be returned to the bank or building society account from which
payment was made.

The presentation and any accompanying materials distributed by the Company were
directed solely at persons failing within certain exemptions to section 57 of
the Financial Services Act 1986 and it was not and is not intended that they
should be acted upon in any way by persons who do not have professional
experience in matters relating to investments and who do not fall within the
relevant exemptions.

Any forward looking statements, including any projections, contained in the
Presentation have not been commented or reported on by the Company's auditors
and accordingly may not necessarily be on a basis which is consistent with the
Company's accounting policies. Actual results may differ substantially from
figures used for planning purposes only and accordingly any such forward looking
projections or projections should not be relied on in any manner whatsoever.

Time is of the essence as regards obligations set out in this Cotter and the
Letter of Confirmation.

                                       6
<PAGE>

[LOGO OF HOARE GOVETT]

This letter, the enclosed Letter of Confirmation and any contract which has been
or may be entered into between you and the Company on the terms of or pursuant
to this letter will be governed by and construed in accordance with English Law
and you have agreed to submit to the exclusive jurisdiction of the English
courts as regards any claim, dispute or matter arising out of or relating to
such contract, this letter and/or the enclosed Letter of Confirmation.

Whether or not this allocation is to be split amongst several accounts, IT IS
IMPERATIVE THAT THE ENCLOSED FORM OF CONFIRMATION IS COMPLETED, SIGNED AND
RETURNED TO US (FOR THE ATTENTION OF KEVIN GANT) BY FACSIMILE (020 7678 1134) OR
BY HAND IN RESPECT OF YOUR TOTAL PLACING COMMITMENT NOT LATER THAN 5.00 P.M. on,
30 May 2001.

Yours faithfully

/s/ [SIGNATURE ILLEGIBLE]

For and on behalf of
Hoare Govett Limited
Andrew C Chapman
Director - Corporate Finance

                                       7
<PAGE>

[LOGO OF HOARE GOVETT]

                             FORM OF CONFIRMATION

Whether or not this allocation is to be split amongst several accounts, IT IS
IMPERATIVE THAT THIS FORM IS COMPLETED, SIGNED AND RETURNED TO US FOR THE
ATTENTION OF KEVIN GANT BY FACSIMILE (020 7678 1134) OR BY HAND IN RESPECT OF
THE TOTAL PLACING COMMITMENT SO AS TO BE RECEIVED BY US NOT LATER THAN 5:00 P.M.
ON 30 MAY 2001.

To:  Hoare Govett Limited                      Ref No.: ABN8
     199 Bishopsgate
     London EC2M 3XW

For the attention of Kevin Gant
-------------------------------

                                   ---------------------------------------------
                                               Box A                      Box B
                                         Firm Shares          Open Offer Shares

                                          15,565,989                  16,434,011
                                   ---------------------------------------------

Dear Sirs

Bright Station plc (the "Company")
Placing of 270,000,000 new ordinary shares of 1p each ("New Ordinary Shares") on
behalf of the Company at 5p per share (the "Issue Price")(the "Placing")

We hereby acknowledge receipt of your letter of 23 May 2001 (the "Placing
Letter"), the definitions contained in which shall apply in this Form of
Confirmation. We confirm that subject to and only on the basis of the terms and
conditions contained therein, we irrevocably agree to subscribe for the number
of New Ordinary Shares set out in Box A and in Box B (subject, in the case of
Box B, to clawback from qualifying shareholders).

This Form of Confirmation is binding upon receipt by you of this form.

We understand and accept the contents of the Placing Letter and in making this
confirmation give the acknowledgement and agreement required by that letter and
the confirmations required by the paragraph headed "Confirmations" in that
letter.

In the event of us/the funds managed or advised by us being required to take up
any New Ordinary Shares in respect of our/their Placing Commitment, we agree to
pay on demand the full amount due in respect of such participation in accordance
with the terms of the Placing Letter.

Signed: /s/ [ILLEGIBLE SIGNATURE]                      30th May, 2001
       ----------------------------------              --------

For and on behalf of [ILLEGIBLE]
                     ----------------------------

                                       8
<PAGE>

                                                    Hoare Govett Limited
[LOGO OF HOARE GOVETT]                              250 Bishopsgate
                                                    London EC2M 4AA
                                                    Telephone +44(0)20 7678 8000
                                                    Facsimile +44(0)20 7678 1587

STRICTLY PRIVATE AND CONFIDENTIAL

                                                        TOTAL PLACING COMMITMENT
                                         ---------------------------------------
                                                     Box A                 Box B
                                               Firm Shares     Open Offer Shares

                                                 8,755,869             9,244,131
                                         ---------------------------------------

                                                                     29 May 2001

Glen Nimmo Esq
Friends Ivory (Scotland)
1 Charlotte Square
Edinburgh
Scotland
EH2 4DZ

For the attention of: Glen Nimmo

Dear Sirs

Bright Station plc (the Company)
Placing of 270,000,000 new ordinary shares of 1p each ("New Ordinary Shares") on
behalf of the Company at 5p per share (the "Issue Price") (the "Placing")

We refer to our telephone conversation and to the recent presentation made by
the Company to you in connection with the above fund raising (the
"Presentation").

It is currently proposed that 270,000,000 New Ordinary Shares will be issued in
connection with a placing and open offer to raise (pound)13.5 million (gross).
Under the proposed open offer (the "Open Offer"), up to 138,661,969 of the New
Ordinary Shares will be offered to qualifying shareholders (the "Open Offer
Shares") at the Issue Price on the basis of 4 Open Offer Shares for every 5
existing Ordinary Shares held. Accordingly, the Open Offer Shares are being
conditionally placed with institutional investors by Hoare Govett as agent for
the Company, subject to clawback under the Open Offer, and the remaining
131,338,031 New Ordinary Shares are being placed firm (the "Firm Shares"). The
New Ordinary Shares will rank pari passu in all respects with the Company's
existing ordinary shares.

It is currently proposed that a circular comprising a prospectus will be
published by the Company containing further details of the Placing and Open
Offer and other proposals (see below) on or before 29 June 2001 ("Circular").
The Circular will contain a notice convening an extraordinary general meeting of
the Company to approve the Placing and Open Offer and related proposals ("EGM").
Application will also be made for the New Ordinary Shares to be admitted to
listing on the Official List of the UK Listing Authority ("UKLA") and to trading
on the London Stock Exchange's main market for listed securities ("Admission").
On the basis that the Circular is published by the above date, it is expected
that Admission will become effective by no later than 23 July 2001.
<PAGE>

[LOGO OF HOARE GOVETT]

In addition to the Placing and Open Offer, it is also proposed that:

(a)     other than Mr Lomnitz, all of the current Directors will resign on
        Admission (Mr Lomnitz will remain as an executive Director). Messrs
        Jefferies (Non-executive Chairman), Hill (Chief Executive Officer),
        Canharn (Chief Financial Officer) and Bair (non-executive Director) will
        be appointed to the Company's Board on Admission;

(b)     the total "pool" of share options capable of being issued under the
        Company's share option schemes will be increased from 10 per cent of the
        issued share capital from time to time to 15 per cent;

(c)     the Company closes its OfficeShopper and Sparza operations, trading now
        having ceased;

(d)     between the date of this letter and completion of the Placing and Open
        Offer, the Company may be required to secure a temporary credit line and
        or debt bridge facility, which may be provided by some or all of the
        existing directors, to provide cash liquidity pending completion of the
        Placing and Open Offer;

(e)     in connection with the termination of their arrangements with the
        Company and the cancellation of their outstanding share options, Dan
        Wagner and Dave Mattey will be entitled, subject to completion of the
        Placing and Open Offer, to certain payments from the Company amounting
        to (pound)220,580 and (pound)274,337 respectively, which amounts they
        have agreed will be applied in paying up such number of new Ordinary
        Shares in the Company as equals the amount of their respective payments
        divided by the Issue Price;

(f)     as of 31 March 2001, the Group had available cash resources of
        (pound)7.4 million ((pound)16.3 million at 31 December 2000). The
        Company announced on 2 May 2001 that they had available cash of
        (pound)2.9 million as at 30 April 2001.

(g)     The audit report for the year ended 31 December 2000, while unqualified,
        contains an explanatory paragraph making reference to a fundamental
        uncertainty concerning the going concern basis of preparation of the
        financial statements being dependent upon the successful conclusion of
        bridge funding and the Placing and Open Offer.

We have pleasure, as agent for the Company, in now offering you the number of
Firm Shares set out in Box A above and the number of Open Offer Shares set out
in Box B above, (together "Placing Commitment") (free of all expenses) at the
Issue Price subject to the terms and conditions in this letter and in the Form
of Confirmation and to the Money Laundering Regulations 1993. The Open Offer
Shares (but not the Firm Shares) will be subject to recall under the terms of
the Open Offer and the right is accordingly reserved to qualifying shareholders
to recall before the closing date for the Open Offer all or any of the Open
Offer Shares conditionally placed with you.

This letter, the terms of which are conditional (amongst other things) on a
draft press announcement ("Press Announcement") being released by the Company
confirming securing Placing Commitments of (pound)13.5 million, sets out the
basis on which you undertake to accept the Placing Commitment offered to you by
the Company (as set out above).

The Placing Commitments shall be made on the terms of this letter and any
additional terms and conditions as may be required to comply with the
requirements of the City Code on Takeovers and Mergers, the Financial Services
Authority acting in its capacity as the United Kingdom Listing Authority
("UKLA") and the London Stock Exchange.

                                       2
<PAGE>

[LOGO OF HOARE GOVETT]

You should note that the Placing and Open Offer is not being underwritten.

The Placing

The Circular is currently expected to be published by the Company no later than
29 June 2001. You are therefore making your decision whether or not to
participate in the Placing solely on the basis of the information contained in
the Presentation and in this letter. The Presentation may not have contained all
information necessary for you to make an informed assessment of the Company and
its prospects. It is a term of your participation in the Placing that you accept
this fact. However, your participation in the Placing will be conditional on the
following:

(a)     an announcement in relation to the Placing and Open Offer and related
        proposals being made in accordance with the Listing Rules of the UKLA
        ("Listing Rules");

(b)     the Circular being published in accordance with the Financial Services
        Act 1986 ("FSA") and the Listing Rules and containing a working capital
        statement in accordance with 6.E.16 of the Listing Rules which is
        unqualified except as to Admission;

(c)     the Circular (a) complying with the Listing Rules and section 146 of the
        FSA and (b) in Hoare Govett's reasonable opinion being and remaining
        until Admission accurate and not misleading in any material respect;

(d)     In Hoare Govett's reasonable opinion, there being no information in or
        omissions from the Circular which, when taken as a whole, are materially
        inconsistent with the information or position contained in the
        Presentation;

(e)     the resolutions being passed at the EGM without amendment which Hoare
        Govett reasonably regards as material;

(f)     the resignation of all of the Company's Directors with effect from
        Admission (other than Mr Lomnitz who will remain as an executive
        director);

(g)     prior to Admission, so far as Hoare Govett is aware, no order having
        been made or resolution passed in respect of the Company or any of its
        material subsidiaries for its or their winding up or dissolution or for
        it or them to enter into any arrangement or composition for the benefit
        of creditors, or the appointment of a receiver, administrative receiver,
        trustee or similar officer;

(h)     commitments being received by the Company (or its duly appointed agents)
        pursuant to the Placing for (pound)13.5 million (gross);

(i)     Admission becoming effective by no later than 31 August 2001.

Hoare Govett and the Company reserve the right to agree and extend the time for
the satisfaction of any of the above conditions provided that such time may not
be extended beyond 31 August 2001. In that event, we will inform you at the
earliest opportunity and all subsequent dates mentioned in this letter will be
adjusted appropriately.

You agree that where a condition is expressed to be subject to Hoare Govett's
reasonable opinion:

(a)     Hoare Govett will exercise its opinion in its absolute discretion,
        having regard to the Placing and Open Offer as a whole, and not to
        places' interests individually; and

                                       3
<PAGE>

(b)     provided that Hoare Govett exercises its discretion in good faith, it
        shall not incur any liability to you whatsoever.

By signing and returning the attached Form of Confirmation, you will confirm
your agreement with us, on the terms, and subject to the conditions, of this
letter and subject to the Memorandum and Articles of Association of the Company,
to subscribe under the Placing for the number of New Ordinary Shares set out in
Boxes A and B on page 1 of this Letter at the Issue Price. Subject only to the
above conditions being satisfied or waived, your Placing Commitment will be
irrevocable.

Commissions

No commission will be payable to you in respect of your participation in the
Placing.

Hoare Govett will be paid a commission by the Company in relation to the Placing
equal to seven per cent. of the total funds raised under the Placing and Open
Offer. In order to retain cash within the Company and to align its interests
with those of institutional investors who are giving Placing Commitments, Hoare
Govett has agreed to take this commission principally in the form of equity at
the Issue Price provided that the total number of new Ordinary Shares received
by Hoare Govett shall be less than 3 per cent. of the then issued share capital
of the Company, with the remainder taken in cash.

Timetable

The date the Circular is posted will determine the timetable for the Open Offer
and EGM.

As soon as possible after the closing of the Open Offer, we will inform you of
the amount recalled by qualifying shareholders under the Open Offer and of the
number of Open Offer Shares and Firm Shares which are required to be taken up by
you ("Trade Confirmation"), together with the funds payment to be made.

Please note that ABN AMRO Equities (UK) Limited will act as our execution and
settlement agent. As such, all trades will be matched and settled with its CREST
Participant ID 590 (five nine zero). Trade confirmations will be issued by ABN
AMRO Equities (UK) Limited in the normal manner. Settlement will be free of all
charges, commissions and duties.

In the event that you have any queries in respect of settlement, please call
Rhys Thomas on 020 7678 7043 or Kevin Gant on 020 7678 0584.

Interest may be charged in respect of payments not received by us for value by
the required time referred to above at a rate equal to the London Inter-Bank
Offered Rate for seven day deposits in sterling plus five per cent. per annum as
determined by us.

In the event that the conditions are not fulfilled by 31 August 2001, the
Placing will not proceed and your rights and obligations under this letter shall
cease and determine. In such event, all funds delivered to us pursuant to this
letter will be returned to you by telegraphic transfer on your instructions or
by cheque.

Confirmations

By signing and returning the Form of Confirmation, you will be confirming that,
as a term of the acceptance of your Placing Commitment:

                                       4
<PAGE>

[HOARE GOVETT]

(a)     you have entered into this commitment solely on the basis of the
        information contained in the Presentation and this letter and you have
        not relied on any other representation or warranty in reaching your
        decision to acquire New Ordinary Shares under your Placing Commitment;

(b)     neither Hoare Govett nor the Company's sponsor, PricewaterhouseCoopers
        Corporate Finance, is acting for you in connection with the Placing and
        will not be responsible to you in respect of the Placing for providing
        protections afforded to their customers. In particular, you acknowledge
        that neither Hoare Govett nor PricewaterhouseCoopers Corporate Finance
        has made any recommendation to you in relation to the Placing and is not
        advising you with regard to the suitability or merits of the transaction
        or in connection with the arrangements set out in this letter. In
        addition, you acknowledge that you do not expect Hoare Govett or
        PricewaterhouseCoopers Corporate Finance to have any duties or
        responsibilities towards you similar or comparable to those imposed by
        The Securities and Futures Authority Limited's rules requiring "best
        execution", "suitability" and "risk warnings";

(c)     that you, or each person or body on whose behalf you accept your Placing
        Commitment (In whole or in part) or to whom you allocate such Placing
        Commitment (in whole or in part) has capacity and authority to enter
        into and perform the terms of such commitment and that you are entitled
        to accept your Placing Commitment under the laws of all relevant
        jurisdictions which apply to you, have complied and will fully comply
        with all such laws in relation to your Placing Commitment (including,
        where applicable, the Money Laundering Regulations 1993) and have
        obtained all governmental and other consents which may be required in
        relation to your Placing Commitment;

(f)     none of the New Ordinary Shares has been or will be registered under the
        Securities Act of 1933 of the United States (as amended) (the
        "Securities Act") or any of the relevant securities, laws of Canada or
        Australia and may not be offered, sold, taken up or delivered, directly
        or indirectly, into or within the United States except pursuant to an
        exemption from, or in transactions not subject to, the registration
        requirements of the Securities Act, and you represent, warrant and
        undertake that unless you are taking up New Ordinary Shares pursuant to
        such an exemption: (i) you are not within the United States, Canada,
        Japan or Australia and you are not a US person or a citizen of Canada,
        Japan or Australia; (ii) you have not offered, sold or delivered and
        will not offer, sell or deliver any of the New Ordinary Shares to
        persons within the United States, directly or indirectly, or into
        Canada, Japan or Australia; (iii) neither you, your affiliates, nor any
        persons acting on your behalf, have engaged or will engage in any
        directed selling efforts with respect to the New Ordinary Shares; (iv)
        you are not taking up the New Ordinary Shares for resale in or into the
        United States, Canada, Japan or Australia; and (v) you will not
        distribute any offering material, directly or indirectly, in or into the
        United States, Canada, Japan or Australia or to any persons resident in
        such countries. Terms and expressions used in this paragraph have the
        meanings given to them by Regulation S made under the Securities Act;

(g)     you will not procure the acquisition of any New Ordinary Shares by or
        for the account of any person with an address in Australia, Canada or
        Japan, you will not offer any New Ordinary Shares to any such person and
        you will not otherwise treat any New Ordinary Shares in any manner that
        would contravene any applicable Australian, Canadian, Japanese or other
        securities legislation;

(g)     you are a person who falls within paragraph 11(3) of the Financial
        Services Act 1986 (Investment Advertisements)(Exemptions) Order 1996 or
        of the kind described in Article 8(1) of the Financial Services Act 1986
        (investment Advertisements)(Exemptions)(No.2) Order 1995;

(h)     all notices, remittances and documents of title are sent at your own
        risk;

                                       5
<PAGE>

[HOARE GOVETT]

(i)     that to the extent you are a shareholder in Bright Station Plc, you will
        vote in favour of the resolutions to be put forward at the EGM to effect
        the proposals (as contemplated);

(j)     Hoare Govett may at its absolute discretion refuse or scale back your
        application for a Placing Commitment by any amount it deems fit; and

(k)     that your remittance will be honoured on first presentation.

Without prejudice to any of the above undertakings, you agree that, to the
extent you are or become a distributor of New Ordinary Shares (including
underwriters, dealers and all other persons who receive remuneration in respect
of securities sold) during the "distribution compliance period" (as such term is
defined under Regulation S of the United States Securities Act of 1933 (as
amended) you will make all offers and sales of New Ordinary Shares during the
"distribution compliance period" only in accordance with Regulation S or an
exemption under the United States Securities Act of 1933 (as amended) or
pursuant to an effective registration statement under the said act. In addition,
if you shall sell New Ordinary Shares to a distributor, dealer or a person
receiving a selling concession you shall procure the purchaser is subject to the
same restrictions on offers and sales that apply to you.

You agree that settlement, or a series of settlements, with an aggregate value
of (pound)8,500 or greater, settled by way of third party payments, for example,
bankers draft, building society cheque or a cheque drawn by someone other than
the place, are liable to be subject to verification of identity requirements to
comply with the Money Laundering Regulations 1993. This may involve verification
of names and addresses through a reputable agency. By returning the Letter of
Confirmation, you undertake to provide such evidence of identity, within such
reasonable time (in each case to be determined at the discretion of Hoare
Govett) as may be requested to ensure compliance with the Money Laundering
Regulations 1993. If satisfactory evidence and identity has not been obtained
within a reasonable time, then such settlement will not proceed any further but
without prejudice to the rights of Hoare Govett or the Company to take
proceedings to recover any loss suffered by any of them as a result of failing
to provide satisfactory evidence. In such event the settlement monies (without
interest) will be returned to the bank or building society account from which
payment was made.

The presentation and any accompanying materials distributed by the Company were
directed solely at persons falling within certain exemptions to section 57 of
the Financial Services Act 1986 and it was not and is not intended that they
should be acted upon in any way by persons who do not have professional
experience in matters relating to investments and who do not fall within the
relevant exemptions.

Any forward looking statements, including any projections, contained in the
Presentation have not been commented or reported on by the Company's auditors
and accordingly may not necessarily be on a basis which is consistent with the
Company's accounting policies. Actual results may differ substantially from
figures used for planning purposes only and accordingly any such forward looking
projections or projections should not be relied on in any manner whatsoever.

Time is of the essence as regards obligations set out in this letter and the
Letter of Confirmation.

                                       6
<PAGE>

[LOGO OF HOARE GOVETT]

This letter, the enclosed Letter of Confirmation and any contract which has been
or may be entered into between you and the Company on the terms of or pursuant
to this letter will be governed by and construed in accordance with English Law
and you have agreed to submit to the exclusive jurisdiction of the English
courts as regards any claim, dispute or matter arising out of or relating to
such contract, this letter and/or the enclosed Letter of Confirmation.

Whether or not this allocation is to be split amongst several accounts, IT IS
IMPERATIVE THAT THE ENCLOSED FORM OF CONFIRMATION IS COMPLETED, SIGNED AND
RETURNED TO US (FOR THE ATTENTION OF KEVIN GANT) BY FACSIMILE (020 7678 1134) OR
BY HAND IN RESPECT OF YOUR TOTAL PLACING COMMITMENT NOT LATER THAN 5.00 P.M. on,
30 May 2001.

Yours faithfully

/s/ Andrew C Chapman

For and on behalf of
Hoare Govett Limited
Andrew C Chapman
Director - Corporate Finance
<PAGE>

[LOGO OF HOARE GOVETT]

                             FORM OF CONFIRMATION

Whether or not this allocation is to be split amongst several accounts, IT IS
IMPERATIVE THAT THIS FORM IS COMPLETED, SIGNED AND RETURNED TO US FOR THE
ATTENTION OF KEVIN GANT BY FACSIMILE (020 7678 1134) OR BY HAND IN RESPECT OF
THE TOTAL PLACING COMMITMENT SO AS TO BE RECEIVED BY US NOT LATER THAN 5:00 P.M.
ON 30 MAY 2001.

To:  Hoare Govett Limited                      Ref No.: ABN5
     199 Bishopsgate
     London EC2M 3XW

For the attention of Kevin Gant
-------------------------------

                                   ---------------------------------------------
                                               Box A                      Box B
                                         Firm Shares          Open Offer Shares

                                           8,755,388                   8,244,131
                                   ---------------------------------------------

Dear Sirs

Bright Station plc (the "Company")
Placing of 270,000,000 new ordinary shares of 1p each ("New Ordinary Shares") on
behalf of the Company at 5p per share (the "Issue Price")
(the "Placing")

We hereby acknowledge receipt of your letter of 23 May 2001 (the "Placing
Letter"), the definitions contained in which shall apply in this Form of
Confirmation. We confirm that subject to and only on the basis of the terms and
conditions contained therein, we irrevocably agree to subscribe for the number
of New Ordinary Shares set out in Box A and in Box B (subject, in the case of
Box B, to clawback from qualifying shareholders).

This Form of Confirmation is binding upon receipt by you of this form.

We understand and accept the contents of the Placing Letter and in making this
confirmation give the acknowledgement and agreement required by that letter and
the confirmations required by the paragraph headed "Confirmations" in that
letter.

In the event of us/the funds managed or advised by us being required to take up
any New Ordinary Shares in respect of our/their Placing Commitment, we agree to
pay on demand the full amount due in respect of such participation in accordance
with the terms of the Placing Letter.

Signed: /s/ [ILLEGIBLE SIGNATURE]                        30th May, 2001
       ----------------------------------                --------

For and on behalf of [ILLEGIBLE]
                     ----------------------------

                                       8

<PAGE>

[LOGO OF HOARE GOVETT]

                                                    Hoare Govett Limited
                                                    250 Bishopsgate
                                                    London EC2M 4AA
                                                    Telephone +44(0)20 7678 8000
                                                    Facsimile +44(0)20 7678 1587

STRICTLY PRIVATE AND CONFIDENTIAL

                                                        TOTAL PLACING COMMITMENT
                                          --------------------------------------
                                                     Box A                 Box B
                                               Firm Shares     Open Offer Shares

                                                 4,864,371             5,135,629
                                          --------------------------------------

                                                                     29 May 2001

David Taylor Esq
HSBC
6 Bevis Marks
London
EC3A 7JQ

For the attention of: David Taylor

Dear Sirs

Bright Station plc (the "Company")
Placing of 270,000,000 new ordinary shares of 1p each ("New Ordinary Shares") on
behalf of the Company at 5p per share (the "Issue Price") (the "Placing")

We refer to our telephone conversation and to the recent presentation made by
the Company to you in connection with the above fund raising (the
"Presentation").

It is currently proposed that 270,000,000 New Ordinary Shares will be issued in
connection with a placing and open offer to raise (pound)13.5 million (gross).
Under the proposed open offer (the "Open Offer"), up to 138,661,969 of the New
Ordinary Shares will be offered to qualifying shareholders (the "Open Offer
Shares") at the Issue Price on the basis of 4 Open Offer Shares for every 5
existing Ordinary Shares held. Accordingly, the Open Offer Shares are being
conditionally placed with institutional investors by Hoare Govett as agent for
the Company, subject to clawback under the Open Offer, and the remaining
131,338,031 New Ordinary Shares are being placed firm (the "Firm Shares"). The
New Ordinary Shares will rank pari passu in all respects with the Company's
existing ordinary shares.

It is currently proposed that a circular comprising a prospectus will be
published by the Company containing further details of the Placing and Open
Offer and other proposals (see below) on or before 29 June 2001 ("Circular").
The Circular will contain a notice convening an extraordinary general meeting of
the Company to approve the Placing and Open Offer and related proposals ("EGM").
Application will also be made for the New Ordinary Shares to be admitted to
listing on the Official List of the UK Listing Authority ("UKLA") and to trading
on the London Stock Exchange's main market for listed securities ("Admission").
On the basis that the Circular is published by the above date, it is expected
that Admission will become effective by no later than 23 July 2001.

<PAGE>

[LOGO OF HOARE GOVETT]

In addition to the Placing and Open Offer, it is also proposed that:

(a)     other than Mr Lomnitz, all of the current Directors will resign on
        Admission (Mr Lomnitz will remain as an executive Director). Messrs
        Jefferies (Non-executive Chairman), Hill (Chief Executive Officer),
        Canham (Chief Financial Officer) and Bair (non-executive Director) will
        be appointed to the Company's Board on Admission;

(b)     the total "pool" of share options capable of being issued under the
        Company's share option schemes will be increased from 10 per cent. of
        the issued share capital from time to time to 15 per cent;

(c)     the Company closes its OfficeShopper and Sparza operations, trading now
        having ceased;

(d)     between the date of this letter and completion of the Placing and Open
        Offer, the Company may be required to secure a temporary credit line and
        or debt bridge facility, which may be provided by some or all of the
        existing directors, to provide cash liquidity pending completion of the
        Placing and Open Offer;

(e)     in connection with the termination of their arrangements with the
        Company and the cancellation of their outstanding share options, Dan
        Wagner and Dave Mattey will be entitled, subject to completion of the
        Placing and Open Offer, to certain payments from the Company amounting
        to (pound)220,580 and (pound)274,337 respectively, which amounts they
        have agreed will be applied in paying up such number of new Ordinary
        Shares in the Company as equals the amount of their respective payments
        divided by the Issue Price;

(f)     as of 31 March 2001, the Group had available cash resources of
        (pound)7.4 million ((pound)16.3 million at 31 December 2000). The
        Company announced on 2 May 2001 that they had available cash of
        (pound)2.9 million as at 30 April 2001.

(g)     The audit report for the year ended 31 December 2000, while unqualified,
        contains an explanatory paragraph making reference to a fundamental
        uncertainty concerning the going concern basis of preparation of the
        financial statements being dependent upon the successful conclusion of
        bridge funding and the Placing and Open Offer.

We have pleasure, as agent for the Company, in now offering you the number of
Firm Shares set out in Box A above and the number of Open Offer Shares set out
in Box B above, (together "Placing Commitment") (free of all expenses) at the
Issue Price subject to the terms and conditions in this letter and in the Form
of Confirmation and to the Money Laundering Regulations 1993. The Open Offer
Shares (but not the Firm Shares) will be subject to recall under the terms of
the Open Offer and the right is accordingly reserved to qualifying shareholders
to recall before the closing date for the Open Offer all or any of the Open
Offer Shares conditionally placed with you.

This letter, the terms of which are conditional (amongst other things) on a
draft press announcement ("Press Announcement") being released by the Company
confirming securing Placing Commitments of (pound)13.5 million, sets out the
basis on which you undertake to accept the Placing Commitment offered to you by
the Company (as set out above).

The Placing Commitments shall be made on the terms of this letter and any
additional terms and conditions as may be required to comply with the
requirements of the City Code on Takeovers and Mergers, the Financial Services
Authority acting in its capacity as the United Kingdom Listing Authority
("UKLA") and the London Stock Exchange.

                                       2
<PAGE>

[LOGO OF HOARE GOVETT]

You should note that the Placing and Open Offer is not being underwritten.

The Placing

The Circular is currently expected to be published by the Company no later than
29 June 2001. You are therefore making your decision whether or not to
participate in the Placing solely on the basis of the information contained in
the Presentation and in this letter. The Presentation may not have contained all
information necessary for you to make an informed assessment of the Company and
its prospects. It is a term of your participation in the Placing that you accept
this fact. However, your participation in the Placing will be conditional on the
following:

(a)     an announcement in relation to the Placing and Open Offer and related
        proposals being made in accordance with the Listing Rules of the UKLA
        ("Listing Rules");

(b)     the Circular being published in accordance with the Financial Services
        Act 1986 ("FSA") and the Listing Rules and containing a working capital
        statement in accordance with 6.E.16 of the Listing Rules which is
        unqualified except as to Admission;

(c)     the Circular (a) complying with the Listing Rules and section 146 of the
        FSA and (b) in Hoare Govett's reasonable opinion being and remaining
        until Admission accurate and not misleading in any material respect;

(d)     In Hoare Govett's reasonable opinion, there being no information in or
        omissions from the Circular which, when taken as a whole, are materially
        inconsistent with the information or position contained in the
        Presentation;

(e)     the resolutions being passed at the EGM without amendment which Hoare
        Govett reasonably regards as material;

(f)     the resignation of all of the Company's Directors with effect from
        Admission (other than Mr Lomnitz who will remain as an executive
        director);

(g)     prior to Admission, so far as Hoare Govett is aware, no order having
        been made or resolution passed in respect of the Company or any of its
        material subsidiaries for its or their winding up or dissolution or for
        it or them to enter into any arrangement or composition for the benefit
        of creditors, or the appointment of a receiver, administrative receiver,
        trustee or similar officer;

(h)     commitments being received by the Company (or its duly appointed agents)
        pursuant to the Placing for (pound)13.5 million (gross);

(i)     Admission becoming effective by no later than 31 August 2001.

Hoare Govett and the Company reserve the right to agree and extend the time for
the satisfaction of any of the above conditions provided that such time may not
be extended beyond 31 August 2001. In that event, we will inform you at the
earliest opportunity and all subsequent dates mentioned in this letter will be
adjusted appropriately.

You agree that where a condition is expressed to be subject to Hoare Govett's
reasonable opinion:

(a)     Hoare Govett will exercise its opinion in its absolute discretion,
        having regard to the Placing and Open Offer as a whole, and not to
        placees' interests individually; and

                                       3
<PAGE>

[LOGO OF HOARE GOVETT]

(b)     provided that Hoare Govett exercises its discretion in good faith, it
        shall not incur any liability to you whatsoever.

By signing and returning the attached Form of Confirmation, you will confirm
your agreement with us, on the terms, and subject to the conditions, of this
letter and subject to the Memorandum and Articles of Association of the Company,
to subscribe under the Placing for the number of New Ordinary Shares set out in
Boxes A and B on page 1 of this Letter at the Issue Price. Subject only to the
above conditions being satisfied or waived, your Placing Commitment will be
irrevocable.

Commissions

No commission will be payable to you in respect of your participation in the
Placing.

Hoare Govett will be paid a commission by the Company in relation to the Placing
equal to seven per cent. of the total funds raised under the Placing and Open
Offer. In order to retain cash within the Company and to align its interests
with those of institutional investors who are giving Placing Commitments, Hoare
Govett has agreed to take this commission principally in the form of equity at
the Issue Price provided that the total number of new Ordinary Shares received
by Hoare Govett shall be less than 3 per cent. of the then issued share capital
of the Company, with the remainder taken in cash.

Timetable

The date the Circular is posted will determine the timetable for the Open Offer
and EGM.

As soon as possible after the closing of the Open Offer, we will inform you of
the amount recalled by qualifying shareholders under the Open Offer and of the
number of Open Offer Shares and Firm Shares which are required to be taken up by
you ("Trade Confirmation"), together with the funds payment to be made.

Please note that ABN AMRO Equities (UK) Limited will act as our execution and
settlement agent. As such, all trades will be matched and settled with its CREST
Participant ID 590 (five nine zero). Trade confirmations will be issued by ABN
AMRO Equities (UK) Limited in the normal manner. Settlement will be free of all
charges, commissions and duties.

In the event that you have any queries in respect of settlement, please call
Rhys Thomas on 020 7678 7043 or Kevin Gant on 020 7678 0584.

Interest may be charged in respect of payments not received by us for value by
the required time referred to above at a rate equal to the London Inter-Bank
Offered Rate for seven day deposits in sterling plus five per cent. per annum as
determined by us.

In the event that the conditions are not fulfilled by 31 August 2001, the
Placing will not proceed and your rights and obligations under this letter shall
cease and determine. In such event, all funds delivered to us pursuant to this
letter will be returned to you by telegraphic transfer on your instructions or
by cheque.

Confirmations

By signing and returning the Form of Confirmation, you will be confirming that,
as a term of the acceptance of your Placing Commitment:

                                       4
<PAGE>

[LOGO OF HOARE GOVETT]

(a)     you have entered into this commitment solely on the basis of the
        information contained in the Presentation and this letter and you have
        not relied on any other representation or warranty in reaching your
        decision to acquire New Ordinary Shares under your Placing Commitment;

(b)     neither Hoare Govett nor the Company's sponsor, PricewaterhouseCoopers
        Corporate Finance, is acting for you in connection with the Placing and
        will not be responsible to you in respect of the Placing for providing
        protections afforded to their customers. In particular, you acknowledge
        that neither Hoare Govett nor PricewaterhouseCoopers Corporate Finance
        has made any recommendation to you in relation to the Placing and is not
        advising you with regard to the suitability or merits of the transaction
        or in connection with the arrangements set out in this letter. In
        addition, you acknowledge that you do not expect Hoare Govett or
        PricewaterhouseCoopers Corporate Finance to have any duties or
        responsibilities towards you similar or comparable to those imposed by
        The Securities and Futures Authority Limited's rules requiring "best
        execution", "suitability" and "risk warnings";

(c)     that you, or each person or body on whose behalf you accept your Placing
        Commitment (in whole or in part) or to whom you allocate such Placing
        Commitment (in whole or in part) has capacity and authority to enter
        into and perform the terms of such commitment and that you are entitled
        to accept your Placing Commitment under the laws of all relevant
        jurisdictions which apply to you, have complied and will fully comply
        with all such laws in relation to your Placing Commitment (including,
        where applicable, the Money Laundering Regulations 1993) and have
        obtained all governmental and other consents which may be required in
        relation to your Placing Commitment;

(f)     none of the New Ordinary Shares has been or will be registered under the
        Securities Act of 1933 of the United States (as amended) (the
        "Securities Act") or any of the relevant securities, laws of Canada or
        Australia and may not be offered, sold, taken up or delivered, directly
        or indirectly, into or within the United States except pursuant to an
        exemption from, or in transactions not subject to, the registration
        requirements of the Securities Act, and you represent, warrant and
        undertake that unless you are taking up New Ordinary Shares pursuant to
        such an exemption: (i) you are not within the United States, Canada,
        Japan or Australia and you are not a US person or a citizen of Canada,
        Japan or Australia; (ii) you have not offered, sold or delivered and
        will not offer, sell or deliver any of the New Ordinary Shares to
        persons within the United States, directly or indirectly, or into
        Canada, Japan or Australia; (iii) neither you, your affiliates, nor any
        persons acting on your behalf, have engaged or will engage in any
        directed selling efforts with respect to the New Ordinary Shares; (iv)
        you are not taking up the New Ordinary Shares for resale in or into the
        United States, Canada, Japan or Australia; and (v) you will not
        distribute any offering material, directly or indirectly, in or into the
        United States, Canada, Japan or Australia or to any persons resident in
        such countries. Terms and expressions used in this paragraph have the
        meanings given to them by Regulation S made under the Securities Act;

(g)     you will not procure the acquisition of any New Ordinary Shares by or
        for the account of any person with an address in Australia, Canada or
        Japan, you will not offer any New Ordinary Shares to any such person and
        you will not otherwise treat any New Ordinary Shares in any manner that
        would contravene any applicable Australian, Canadian, Japanese or other
        securities legislation;

(g)     you are a person who falls within paragraph 11(3) of the Financial
        Services Act 1986 (Investment Advertisements)(Exemptions) Order 1996 or
        of the kind described in Article 8(1) of the Financial Services Act 1986
        (Investment Advertisements)(Exemptions)(No.2) Order 1995;

(h)     all notices, remittances and documents of title are sent at your own
        risk;

                                       5
<PAGE>

[LOGO OF HOARE GOVETT]

(i)     that to the extent you are a shareholder in Bright Station Plc, you will
        vote in favour of the resolutions to be put forward at the EGM to effect
        the proposals (as contemplated);

(j)     Hoare Gcvett may at its absolute discretion refuse or scale back your
        application for a Placing Commitment by any amount it deems fit; and

(k)     that your remittance will be honoured on first presentation.

Without prejudice to any of the above undertakings, you agree that, to the
extent you are or become a distributor of New Ordinary Shares (including
underwriters, dealers and all other persons who receive remuneration in respect
of securities sold) during the "distribution compliance period" (as such term is
defined under Regulation S of the United States Securities Act of 1933 (as
amended)) you will make all offers and sales of New Ordinary Shares during the
"distribution compliance period" only in accordance with Regulation S or an
exemption under the United States Securities Act of 1933 (as amended) or
pursuant to an effective registration statement under the said act. In addition,
if you shall sell New Ordinary Shares to a distributor, dealer or a person
receiving a selling concession you shall procure the purchaser is subject to the
same restrictions on offers and sales that apply to you.

You agree that settlement, or a series of settlements, with an aggregate value
of (pound)8,500 or greater, settled by way of third party payments, for example,
bankers draft, building society cheque or a cheque drawn by someone other than
the placee, are liable to be subject to verification of identity requirements to
comply with the Money Laundering Regulations 1993. This may involve verification
of names and addresses through a reputable agency. By returning the Letter of
Confirmation, you undertake to provide such evidence of identity, within such
reasonable time (in each case to be determined at the discretion of Hoare
Govett) as may be requested to ensure compliance with the Money Laundering
Regulations 1993. If satisfactory evidence and identity has not been obtained
within a reasonable time, then such settlement will not proceed any further but
without prejudice to the rights of Hoare Govett or the Company to take
proceedings to recover any loss suffered by any of them as a result of failing
to provide satisfactory evidence. In such event the settlement monies (without
interest) will be returned to the bank or building society account from which
payment was made.

The presentation and any accompanying materials distributed by the Company were
directed solely at persons falling within certain exemptions to section 57 of
the Financial Services Act 1986 and it was not and is not intended that they
should be acted upon in any way by persons who do not have professional
experience in matters relating to investments and who do not fall within the
relevant exemptions.

Any forward looking statements, including any projections, contained in the
Presentation have not been commented or reported on by the Company's auditors
and accordingly may not necessarily be on a basis which is consistent with the
Company's accounting policies. Actual results may differ substantially from
figures used for planning purposes only and accordingly any such forward looking
projections or projections should not be relied on in any manner whatsoever.

Time is of the essence as regards obligations set out in this letter and the
Letter of Confirmation.

                                       6
<PAGE>

[LOGO OF HOARE GOVETT]

This letter, the enclosed Letter of Confirmation and any contract which has been
or may be entered into between you and the Company on the terms of or pursuant
to this letter will be governed by and construed in accordance with English Law
and you have agreed to submit to the exclusive jurisdiction of the English
courts as regards any claim, dispute or matter arising out of or relating to
such contract, this letter and/or the enclosed Letter of Confirmation.

Whether or not this allocation is to be split amongst several accounts, IT IS
IMPERATIVE THAT THE ENCLOSED FORM OF CONFIRMATION IS COMPLETED, SIGNED AND
RETURNED TO US (FOR THE ATTENTION OF KEVIN GANT) BY FACSIMILE (020 7678 1134) OR
BY HAND IN RESPECT OF YOUR TOTAL PLACING COMMITMENT NOT LATER THAN 5.00 P.M. on,
30 May 2001.

Yours faithfully

/s/ [SIGNATURE ILLEGIBLE]

For and on behalf of
Hoare Govett Limited
Andrew C Chapman
Director - Corporate Finance

                                       7
<PAGE>

[LOGO OF HOARE GOVETT]

                             FORM OF CONFIRMATION

Whether or not this allocation is to be split amongst several accounts, IT IS
IMPERATIVE THAT THIS FORM IS COMPLETED, SIGNED AND RETURNED TO US FOR THE
ATTENTION OF KEVIN GANT BY FACSIMILE (020 7678 1134) OR BY HAND IN RESPECT OF
THE TOTAL PLACING COMMITMENT SO AS TO BE RECEIVED BY US NOT LATER THAN 5:00 P.M.
ON 30 MAY 2001.

To:  Hoare Govett Limited                      Ref No.: ABN4
     199 Bishopsgate
     London EC2M 3XW

For the attention of Kevin Gant
-------------------------------

                                   ---------------------------------------------
                                               Box A                      Box B
                                         Firm Shares          Open Offer Shares

                                           4,864,371                   5,135,629
                                   ---------------------------------------------

Dear Sirs

Bright Station plc (the "Company")
Placing of 270,000,000 new ordinary shares of 1p each ("New Ordinary Shares") on
behalf of the Company at 5p per share (the "Issue Price")(the "Placing")

We hereby acknowledge receipt of your letter of 23 May 2001 (the "Placing
Letter"), the definitions contained in which shall apply in this Form of
Confirmation. We confirm that subject to and only on the basis of the terms and
conditions contained therein, we irrevocably agree to subscribe for the number
of New Ordinary Shares set out in Box A and in Box B (subject, in the case of
Box B, to clawback from qualifying shareholders).

This Form of Confirmation is binding upon receipt by you of this form.

We understand and accept the contents of the Placing Letter and in making this
confirmation give the acknowledgement and agreement required by that letter and
the confirmations required by the paragraph headed "Confirmations" in that
letter.

In the event of us/the funds managed or advised by us being required to take up
any New Ordinary Shares in respect of our/their Placing Commitment, we agree to
pay on demand the full amount due in respect of such participation in accordance
with the terms of the Placing Letter.

Signed: /s/ [ILLEGIBLE SIGNATURE]                        30th May, 2001
       ----------------------------------                --------

For and on behalf of HSBC Asset Management Europe.
                     ----------------------------

                                       8

<PAGE>

[LOGO OF HOARE GOVETT]

                                                    Hoare Govett Limited
                                                    250 Bishopsgate
                                                    London EC2M 4AA
                                                    Telephone +44(0)20 7678 8000
                                                    Facsimile +44(0)20 7678 1587

STRICTLY PRIVATE AND CONFIDENTIAL

                                                        TOTAL PLACING COMMITMENT
                                           -------------------------------------
                                                     Box A                 Box B
                                               Firm Shares     Open Offer Shares

                                                 2,432,186             2,567,814
                                           -------------------------------------
                                                                     29 May 2001

Katie Potts
Herald Investment Trust
12 Charterhouse Square
London
EC1M 6AX

For the attention of: Katie Potts

Dear Sirs

Bright Station plc (the "Company")
Placing of 270,000,000 new ordinary shares of 1p each ("New Ordinary Shares") on
behalf of the Company at 5p per share (the "Issue Price") (the "Placing")

We refer to our telephone conversation and to the recent presentation made by
the Company to you in connection with the above fund raising (the
"Presentation").

It is currently proposed that 270,000,000 New Ordinary Shares will be issued in
connection with a placing and open offer to raise (pound)13.5 million (gross).
Under the proposed open offer (the "Open Offer"), up to 138,661,969 of the New
Ordinary Shares will be offered to qualifying shareholders (the "Open Offer
Shares") at the Issue Price on the basis of 4 Open Offer Shares for every 5
existing Ordinary Shares held. Accordingly, the Open Offer Shares are being
conditionally placed with institutional investors by Hoare Govett as agent for
the Company, subject to clawback under the Open Offer, and the remaining
131,338,031 New Ordinary Shares are being placed firm (the "Firm Shares"). The
New Ordinary Shares will rank pari passu in all respects with the Company's
existing ordinary shares.

It is currently proposed that a circular comprising a prospectus will be
published by the Company containing further details of the Placing and Open
Offer and other proposals (see below) on or before 29 June 2001 ("Circular").
The Circular will contain a notice convening an extraordinary general meeting of
the Company to approve the Placing and Open Offer and related proposals ("EGM").
Application will also be made for the New Ordinary Shares to be admitted to
listing on the Official List of the UK Listing Authority ("UKLA") and to trading
on the London Stock Exchange's main market for listed securities ("Admission").
On the basis that the Circular is published by the above date, it is expected
that Admission will become effective by no later than 23 July 2001.
<PAGE>

[LOGO OF HOARE GOVETT]

In addition to the Placing and Open Offer, it is also proposed that:

(a)     other than Mr Lomnitz, all of the current Directors will resign on
        Admission (Mr Lomnitz will remain as an executive Director). Messrs
        Jefferies (Non-executive Chairman), Hill (Chief Executive Officer),
        Canham (Chief Financial Officer) and Bair (non-executive Director) will
        be appointed to the Company's Board on Admission;

(b)     the total "pool" of share options capable of being issued under the
        Company's share option schemes will be increased from 10 per cent. of
        the issued share capital from time to time to 15 per cent;

(c)     the Company closes its OfficeShopper and Sparza operations, trading now
        having ceased;

(d)     between the date of this letter and completion of the Placing and Open
        Offer, the Company may be required to secure a temporary credit line and
        or debt bridge facility, which may be provided by some or all of the
        existing directors, to provide cash liquidity pending completion of the
        Placing and Open Offer;

(e)     in connection with the termination of their arrangements with the
        Company and the cancellation of their outstanding share options, Dan
        Wagner and Dave Mattey will be entitled, subject to completion of the
        Placing and Open Offer, to certain payments from the Company amounting
        to (pound)220,580 and (pound)274,337 respectively, which amounts they
        have agreed will be applied in paying up such number of new Ordinary
        Shares in the Company as equals the amount of their respective payments
        divided by the Issue Price;

(f)     as of 31 March 2001, the Group had available cash resources of
        (pound)7.4 million ((pound)16.3 million at 31 December 2000). The
        Company announced on 2 May 2001 that they had available cash of
        (pound)2.9 million as at 30 April 2001.

(g)     The audit report for the year ended 31 December 2000, while unqualified,
        contains an explanatory paragraph making reference to a fundamental
        uncertainty concerning the going concern basis of preparation of the
        financial statements being dependent upon the successful conclusion of
        bridge funding and the Placing and Open Offer.

We have pleasure, as agent for the Company, in now offering you the number of
Firm Shares set out in Box A above and the number of Open Offer Shares set out
in Box B above, (together "Placing Commitment") (free of all expenses) at the
Issue Price subject to the terms and conditions in this letter and in the Form
of Confirmation and to the Money Laundering Regulations 1993. The Open Offer
Shares (but not the Firm Shares) will be subject to recall under the terms of
the Open Offer and the right is accordingly reserved to qualifying shareholders
to recall before the closing date for the Open Offer all or any of the Open
Offer Shares conditionally placed with you.

This letter, the terms of which are conditional (amongst other things) on a
draft press announcement ("Press Announcement") being released by the Company
confirming securing Placing Commitments of (pound)13.5 million, sets out the
basis on which you undertake to accept the Placing Commitment offered to you by
the Company (as set out above).

The Placing Commitments shall be made on the terms of this letter and any
additional terms and conditions as may be required to comply with the
requirements of the City Code on Takeovers and Mergers, the Financial Services
Authority acting in its capacity as the United Kingdom Listing Authority
("UKLA") and the London Stock Exchange.

                                       2
<PAGE>

[LOGO OF HOARE GOVETT]

You should note that the Placing and Open Offer is not being underwritten.

The Placing

The Circular is currently expected to be published by the Company no later than
29 June 2001. You are therefore making your decision whether or not to
participate in the Placing solely on the basis of the information contained in
the Presentation and in this letter. The Presentation may not have contained all
information necessary for you to make an informed assessment of the Company and
its prospects. It is a term of your participation in the Placing that you accept
this fact. However, your participation in the Placing will be conditional on the
following:

(a)     an announcement in relation to the Placing and Open Offer and related
        proposals being made in accordance with the Listing Rules of the UKLA
        ("Listing Rules");

(b)     the Circular being published in accordance with the Financial Services
        Act 1986 ("FSA") and the Listing Rules and containing a working capital
        statement in accordance with 6.E.16 of the Listing Rules which is
        unqualified except as to Admission;

(c)     the Circular (a) complying with the Listing Rules and section 146 of the
        FSA and (b) in Hoare Govetts reasonable opinion being and remaining
        until Admission accurate and not misleading in any material respect;

(d)     in Hoare Govett's reasonable opinion, there being no information in or
        omissions from the Circular which, when taken as a whole, are materially
        inconsistent with the information or position contained in the
        Presentation;

(e)     the resolutions being passed at the EGM without amendment which Hoare
        Govett reasonably regards as material;

(f)     the resignation of all of the Company's Directors with effect from
        Admission (other than Mr Lomnitz who will remain as an executive
        director);

(g)     prior to Admission, so far as Hoare Govett is aware, no order having
        been made or resolution passed in respect of the Company or any of its
        material subsidiaries for its or their winding up or dissolution or for
        it or them to enter into any arrangement or composition for the benefit
        of creditors, or the appointment of a receiver, administrative receiver,
        trustee or similar officer;

(h)     commitments being received by the Company (or its duly appointed agents)
        pursuant to the Placing for (pound)13.5 million (gross);

(i)     Admission becoming effective by no later than 31 August 2001.

Hoare Govett and the Company reserve the right to agree and extend the time for
the satisfaction of any of the above conditions provided that such time may not
be extended beyond 31 August 2001. In that event, we will inform you at the
earliest opportunity and all subsequent dates mentioned in this letter will be
adjusted appropriately.

You agree that where a condition is expressed to be subject to Hoare Govett's
reasonable opinion:

(a)     Hoare Govett will exercise its opinion in its absolute discretion,
        having regard to the Placing and Open Offer as a whole, and not to
        placees' interests individually; and

                                       3
<PAGE>

[LOGO OF HOARE GOVETT]

(b)     provided that Hoare Govett exercises its discretion in good faith, it
        shall not incur any liability to you whatsoever.

By signing and returning the attached Form of Confirmation, you will confirm
your agreement with us, on the terms, and subject to the conditions, of this
letter and subject to the Memorandum and Articles of Association of the Company,
to subscribe under the Placing for the number of New Ordinary Shares set out in
Boxes A and B on page 1 of this letter at the Issue Price. Subject only to the
above conditions being satisfied or waived, your Placing Commitment will be
irrevocable.

Commissions

No commission will be payable to you in respect of your participation in the
Placing.

Hoare Govett will be paid a commission by the Company in relation to the Placing
equal to seven per cent. of the total funds raised under the Placing and Open
Offer. In order to retain cash within the Company and to align its interests
with those of institutional investors who are giving Placing Commitments, Hoare
Govett has agreed to take this commission principally in the form of equity at
the Issue Price provided that the total number of new Ordinary Shares received
by Hoare Govett shall be less than 3 per cent. of the then issued share capital
of the Company, with the remainder taken in cash.

Timetable

The date the Circular is posted will determine the timetable for the Open Offer
and EGM.

As soon as possible after the closing of the Open Offer, we will inform you of
the amount recalled by qualifying shareholders under the Open Offer and of the
number of Open Offer Shares and Firm Shares which are required to be taken up by
you ("Trade Confirmation"), together with the funds payment to be made.

Please note that ABN AMRO Equities (UK) Limited will act as our execution and
settlement agent. As such, all trades will be matched and settled with its CREST
Participant ID 590 (five nine zero). Trade confirmations will be issued by ABN
AMRO Equities (UK) Limited in the normal manner. Settlement will be free of all
charges, commissions and duties.

In the event that you have any queries in respect of settlement, please call
Rhys Thomas on 020 7678 7043 or Kevin Gant on 020 7678 0584.

Interest may be charged in respect of payments not received by us for value by
the required time referred to above at a rate equal to the London Inter-Bank
Offered Rate for seven day deposits in sterling plus five per cent. per annum as
determined by us.

In the event that the conditions are not fulfilled by 31 August 2001, the
Placing will not proceed and your rights and obligations under this letter shall
cease and determine. In such event, all funds delivered to us pursuant to this
letter will be returned to you by telegraphic transfer on your instructions or
by cheque.

Confirmations

By signing and returning the Form of Confirmation, you will be confirming that,
as a term of the acceptance of your Placing Commitment:

                                       4
<PAGE>

[LOGO OF HOARE GOVETT]

(a)     you have entered into this commitment solely on the basis of the
        information contained in the Presentation and this letter and you have
        not relied on any other representation or warranty in reaching your
        decision to acquire New Ordinary Shares under your Placing Commitment;

(b)     neither Hoare Govett nor the Company's sponsor, PricewaterhouseCoopers
        Corporate Finance, is acting for you in connection with the Placing and
        will not be responsible to you in respect of the Placing for providing
        protections afforded to their customers. In particular, you acknowledge
        that neither Hoare Govett nor PricewaterhouseCoopers Corporate Finance
        has made any recommendation to you in relation to the Placing and is not
        advising you with regard to the suitability or merits of the transaction
        or in connection with the arrangements set out in this letter. In
        addition, you acknowledge that you do not expect Hoare Govett or
        PricewaterhouseCoopers Corporate Finance to have any duties or
        responsibilities towards you similar or comparable to those imposed by
        The Securities and Futures Authority Limited's rules requiring "best
        execution", "suitability" and "risk warnings";

(c)     that you, or each person or body on whose behalf you accept your Placing
        Commitment (in whole or in part) or to whom you allocate such Placing
        Commitment (in whole or in part) has capacity and authority to enter
        into and perform the terms of such commitment and that you are entitled
        to accept your Placing Commitment under the laws of all relevant
        jurisdictions which apply to you, have complied and will fully comply
        with all such laws in relation to your Placing Commitment (including,
        where applicable, the Money Laundering Regulations 1993) and have
        obtained all governmental and other consents which may be required in
        relation to your Placing Commitment;

(f)     none of the New Ordinary Shares has been or will be registered under the
        Securities Act of 1933 of the United States (as amended) (the
        "Securities Act") or any of the relevant securities, laws of Canada or
        Austraila and may not be offered, sold, taken up or delivered, directly
        or Indirectly, into or within the United States except pursuant to an
        exemption from, or in transactions not subject to, the registration
        requirements of the Securities Act, and you represent, warrant and
        undertake that unless you are taking up New Ordinary Shares pursuant to
        such an exemption: (i) you are not within the United States, Canada,
        Japan or Australia and you are not a US person or a citizen of Canada,
        Japan or Australia; (ii) you have not offered, sold or delivered and
        will not offer, sell or deliver any of the New Ordinary Shares to
        persons within the United States, directly or indirectly, or into
        Canada, Japan or Australia; (iii) neither you, your affiliates, nor any
        persons acting on your behalf, have engaged or will engage in any
        directed selling efforts with respect to the New Ordinary Shares; (iv)
        you are not taking up the New Ordinary Shares for resale in or into the
        United States, Canada, Japan or Australia; and (v) you will not
        distribute any offering material, directly or indirectly, in or into the
        United States, Canada, Japan or Australia or to any persons resident in
        such countries. Terms and expressions used in this paragraph have the
        meanings given to them by Regulation S made under the Securities Act;

(g)     you will not procure the acquisition of any New Ordinary Shares by or
        for the account of any person with an address in Australia, Canada or
        Japan, you will not otter any New Ordinary Shares to any such person and
        you will not otherwise treat any New Ordinary Shares in any manner that
        would contravene any applicable Australian, Canadian, Japanese or other
        securities legislation;

(g)     you are a person who falls within paragraph 11(3) of the Financial
        Services Act 1986 (Investment Advertisements)(Exemptions) Order 1996 or
        of the kind described in Article 8(1) of the Financial Services Act 1986
        (Investment Advertisements)(Exemptions)(No.2) Order 1995;

(h)     all notices, remittances and documents of title are sent at your own
        risk;

                                       5
<PAGE>

[LOGO OF HOARE GOVETT]

(i)     that to the extent you are a shareholder in Bright Station Plc, you will
        vote in favour of the resolutions to be put forward at the EGM to effect
        the proposals (as contemplated);

(j)     Hoare Govett may at its absolute discretion refuse or scale back your
        application for a Placing Commitment by any amount it deems fit; and

(k)     that your remittance will be honoured on first presentation.

Without prejudice to any of the above undertakings, you agree that, to the
extent you are or become a distributor of New Ordinary Shares (including
underwriters, dealers and all other persons who receive remuneration in respect
of securities sold) during the "distribution compliance period" (as such term Is
defined under Regulation S of the United States Securities Act of 1933 (as
amended)) you will make all offers and sales of New Ordinary Shares during the
"distribution compliance period" only in accordance with Regulation S or an
exemption under the United States Securities Act of 1933 (as amended) or
pursuant to an effective registration statement under the said act. In addition,
if you shall sell New Ordinary Shares to a distributor, dealer or a person
receiving a selling concession you shall procure the purchaser is subject to the
same restrictions on offers and sales that apply to you.

You agree that settlement, or a series of settlements, with an aggregate value
of (pound)8,500 or greater, settled by way of third party payments, for example,
bankers draft, building society cheque or a cheque drawn by someone other than
the placee, are liable to be subject to verification of identity requirements to
comply with the Money Laundering Regulations 1993. This may Involve verification
of names and addresses through a reputable agency. By returning the Letter of
Confirmation, you undertake to provide such evidence of identity, within such
reasonable time (in each case to be determined at the discretion of Hoare
Govett) as may be requested to ensure compliance with the Money Laundering
Regulations 1993. If satisfactory evidence and identity has not been obtained
within a reasonable time, then such settlement will not proceed any further but
without prejudice to the rights of Hoare Govett or the Company to take
proceedings to recover any loss suffered by any of them as a result of failing
to provide satisfactory evidence. In such event the settlement monies (without
interest) will be returned to the bank or building society account from which
payment was made.

The presentation and any accompanying materials distributed by the Company were
directed solely at persons falling within certain exemptions to section 57 of
the Financial Services Act 1986 and it was not and is not intended that they
should be acted upon in any way by persons who do not have professional
experience in matters relating to investments and who do not fall within the
relevant exemptions.

Any forward looking statements, including any projections, contained in the
Presentation have not been commented or reported on by the Companys auditors and
accordingly may not necessarily be on a basis which is consistent with the
Companys accounting policies. Actual results may differ substantially from
figures used for planning purposes only and accordingly any such forward looking
projections or projections should not be relied on in any manner whatsoever.

Time is of the essence as regards obligations set out in this letter and the
Letter of Confirmation.

                                       6
<PAGE>

[LOGO OF HOARE GOVETT]

This letter, the enclosed Letter of Confirmation and any contract which has been
or may be entered into between you and the Company on the terms of or pursuant
to this letter will be governed by and construed in accordance with English Law
and you have agreed to submit to the exclusive jurisdiction of the English
courts as regards any claim, dispute or matter arising out of or relating to
such contract, this letter and/or the enclosed Letter of Confirmation.

Whether or not this allocation is to be split amongst several accounts, IT IS
IMPERATIVE THAT THE ENCLOSED FORM OF CONFIRMATION IS COMPLETED, SIGNED AND
RETURNED TO US (FOR THE ATTENTION OF KEVIN GANT) BY FACSIMILE (020 7678 1134) OR
BY HAND IN RESPECT OF YOUR TOTAL PLACING COMMITMENT NOT LATER THAN 5.00 P.M. on,
30 May 2001.

Yours faithfully

/s/ [SIGNATURE ILLEGIBLE]

For and on behalf of
Hoare Govett Limited
Andrew C Chapman
Director - Corporate Finance

                                       7
<PAGE>

[LOGO OF HOARE GOVETT]

                             FORM OF CONFIRMATION

Whether or not this allocation is to be split amongst several accounts, IT IS
IMPERATIVE THAT THIS FORM IS COMPLETED, SIGNED AND RETURNED TO US FOR THE
ATTENTION OF KEVIN GANT BY FACSIMILE (020 7678 1134) OR BY HAND IN RESPECT OF
THE TOTAL PLACING COMMITMENT SO AS TO BE RECEIVED BY US NOT LATER THAN 5:00 P.M.
ON 30 MAY 2001.

To:  Hoare Govett Limited                      Ref No.: ABN13
     199 Bishopsgate
     London EC2M 3XW

For the attention of Kevin Gant
-------------------------------

                                   ---------------------------------------------
                                               Box A                      Box B
                                         Firm Shares          Open Offer Shares

                                           2,432,186                   2,567,814
                                   ---------------------------------------------

Dear Sirs

Bright Station plc (the "Company")
Placing of 270,000,000 new ordinary shares of 1p each ("New Ordinary Shares") on
behalf of the Company at 5p per share (the "Issue Price")(the "Placing")

We hereby acknowledge receipt of your letter of 23 May 2001 (the "Placing
Letter"), the definitions contained in which shall apply in this Form of
Confirmation. We confirm that subject to and only on the basis of the terms and
conditions contained therein, we irrevocably agree to subscribe for the number
of New Ordinary Shares set out in Box A and in Box B (subject, in the case of
Box B, to clawback from qualifying shareholders).

This Form of Confirmation is binding upon receipt by you of this form.

We understand and accept the contents of the Placing Letter and in making this
confirmation give the acknowledgement and agreement required by that letter and
the confirmations required by the paragraph headed "Confirmations" in that
letter.

In the event of us/the funds managed or advised by us being required to take up
any New Ordinary Shares in respect of our/their Placing Commitment, we agree to
pay on demand the full amount due in respect of such participation in accordance
with the terms of the Placing Letter.

Signed: /s/ [ILLEGIBLE SIGNATURE]                        30th May, 2001
       ----------------------------------                --------

For and on behalf of HERALD INVESTMENT TRUST PLC
                     ----------------------------

                                       8

<PAGE>

[LOGO OF HOARE GOVETT]

                                                    Hoare Govett Limited
                                                    250 Bishopsgate
                                                    London EC2M 4AA
                                                    Telephone +44(0)20 7678 8000
                                                    Facsimile +44(0)20 7678 1587

STRICTLY PRIVATE AND CONFIDENTIAL

                                                        TOTAL PLACING COMMITMENT
                                          --------------------------------------
                                                     Box A                 Box B
                                               Firm Shares     Open Offer Shares

                                                24,321,858            25,678,142
                                          --------------------------------------

                                                                     29 May 2001

Mark Bradshaw Esq
Bradshaw Asset Management
30 St James Street
London
SW1A 1HB

For the attention of: Mark Bradshaw

Dear Sirs

Bright Station plc (the "Company")
Placing of 270,000,000 new ordinary shares of 1p each ("New Ordinary Shares") on
behalf of the Company at 5p per share (the "Issue Price") (the "Placing")

We refer to our telephone conversation and to the recent presentation made by
the Company to you in connection with the above fund raising (the
"Presentation").

It is currently proposed that 270,000,000 New Ordinary Shares will be issued in
connection with a placing and open offer to raise (pound)13.5 million (gross).
Under the proposed open offer (the "Open Offer"), up to 138,661,969 of the New
Ordinary Shares will be offered to qualifying shareholders (the "Open Offer
Shares") at the Issue Price on the basis of 4 Open Offer Shares for every 5
existing Ordinary Shares held. Accordingly, the Open Offer Shares are being
conditionally placed with institutional investors by Hoare Govett as agent for
the Company, subject to clawback under the Open Offer, and the remaining
131,338,031 New Ordinary Shares are being placed firm (the "Firm Shares"). The
New Ordinary Shares will rank pari passu in all respects with the Company's
existing ordinary shares.

It is currently proposed that a circular comprising a prospectus will be
published by the Company containing further details of the Placing and Open
Offer and other proposals (see below) on or before 29 June 2001 ("Circular").
The Circular will contain a notice convening an extraordinary general meeting of
the Company to approve the Placing and Open Offer and related proposals ("EGM").
Application will also be made for the New Ordinary Shares to be admitted to
listing on the Official List of the UK Listing Authority ("UKLA") and to trading
on the London Stock Exchange's main market for listed securities ("Admission").
On the basis that the Circular is published by the above date, it is expected
that Admission will become effective by no later than 23 July 2001.

               Regulated by The Securities and Futures Authority
        Registered Office: As above, Registered in England No. 2026375
<PAGE>

[LOGO OF HOARE GOVETT]

In addition to the Placing and Open Offer, it is also proposed that:

(a)     other than Mr Lomnitz, all of the current Directors will resign on
        Admission (Mr Lomnitz will remain as an executive Director). Messrs
        Jetferies (Non-executive Chairman), Hill (Chief Executive Officer),
        Canharn (Chief Financial Officer) and Bair (non-executive Director) will
        be appointed to the Companys Board on Admission;

(b)     the total "pool" of share options capable of being issued under the
        Company's share option schemes will be increased from 10 per cent. of
        the issued share capital from time to time to 15 per cent;

(c)     the Company closes its OfficeShopper and Sparza operations, trading now
        having ceased;

(d)     between the date of this letter and completion of the Placing and Open
        Offer, the Company may be required to secure a temporary credit line and
        or debt bridge facility, which may be provided by some or all of the
        existing directors, to provide cash liquidity pending completion of the
        Placing and Open Offer;

(e)     in connection with the termination of their arrangements with the
        Company and the cancellation of their outstanding share options, Dan
        Wagner and Dave Mattey will be entitled, subject to completion of the
        Placing and Open Offer, to certain payments from the Company amounting
        to (pound)220,580 and (pound)274,337 respectively, which amounts they
        have agreed will be applied in paying up such number of new Ordinary
        Shares in the Company as equals the amount of their respective payments
        divided by the Issue Price;

(f)     as of 31 March 2001, the Group had available cash resources of
        (pound)7.4 million ((pound)16.3 million at 31 December 2000). The
        Company announced on 2 May 2001 that they had available cash of
        (pound)2.9 million as at 30 April 2001.

(g)     The audit report for the year ended 31 December 2000, while unqualified,
        contains an explanatory paragraph making reference to a fundamental
        uncertainty concerning the going concern basis of preparation of the
        financial statements being dependent upon the successful conclusion of
        bridge funding and the Placing and Open Offer.

We have pleasure, as agent for the Company, in now offering you the number of
Firm Shares set out in Box A above and the number of Open Offer Shares set out
in Box B above, (together "Placing Commitment") (free of all expenses) at the
Issue Price subject to the terms and conditions in this letter and in the Form
of Confirmation and to the Money Laundering Regulations 1993. The Open Offer
Shares (but not the Firm Shares) will be subject to recall under the terms of
the Open Offer and the right is accordingly reserved to qualifying shareholders
to recall before the closing date for the Open Offer all or any of the Open
Offer Shares conditionally placed with you.

This letter, the terms of which are conditional (amongst other things) on a
draft press announcement ("Press Announcement") being released by the Company
confirming securing Placing CommItments of (pound)13.5 million, sets out the
basis on which you undertake to accept the Placing Commitment offered to you by
the Company (as set out above).

The Placing Commitments shall be made on the terms of this letter and any
additional terms and conditions as may be required to comply with the
requirements of the City Code on Takeovers and Mergers, the Financial Services
Authority acting in its capacity as the United Kingdom Listing Authority
("UKLA") and the London Stock Exchange.

                                       2
<PAGE>

[LOGO OF HOARE GOVETT]

You should note that the Placing and Open Offer is not being underwritten.

The Placing

The Circular is currently expected to be published by the Company no later than
29 June 2001. You are therefore making your decision whether or not to
participate In the Placing solely on the basis of the information contained in
the Presentation and in this letter. The Presentation may not have contained all
Information necessary for you to make an informed assessment of the Company and
its prospects. It is a term of your participation in the Placing that you accept
this fact. However, your participation in the Placing will be conditional on the
following:

(a)     an announcement in relation to the Placing and Open Offer and related
        proposals being made in accordance with the Listing Rules of the UKLA
        (Listing Rules);

(b)     the Circular being published in accordance with the Financial Services
        Act 1986 ("FSA) and the Listing Rules and containing a working capital
        statement in accordance with 6.E.16 of the Listing Rules which is
        unqualified except as to Admission;

(c)     the Circular (a) complying with the Listing Rules and section 146 of the
        FSA and (b) in Hoare Govett's reasonable opinion being and remaining
        until Admission accurate and not misleading in any material respect;

(d)     In Hoare Govett's reasonable opinion, there being no information in or
        omissions from the Circular which, when taken as a whole, are materially
        inconsistent with the information or position contained In the
        Presentation;

(e)     the resolutions being passed at the EGM without amendment which Hoare
        Govett reasonably regards as material;

(f)     the resignation of all of the Company's Directors with effect from
        Admission (other than Mr Lomnitz who will remain as an executive
        director);

(g)     prior to Admission, so far as Hoare Govett is aware, no order having
        been made or resolution passed in respect of the Company or any of its
        material subsidiaries for its or their winding up or dissolution or for
        it or them to enter into any arrangement or composition for the benefit
        of creditors, or the appointment of a receiver, administrative receiver,
        trustee or similar officer;

(h)     commitments being received by the Company (or its duly appointed agents)
        pursuant to the Placing for (pound)13.5 million (gross);

(i)     Admission becoming effective by no later than 31 August 2001.

Hoare Govett and the Company reserve the right to agree and extend the time for
the satisfaction of any of the above conditions provided that such time may not
be extended beyond 31 August 2001. In that event, we will inform you at the
earliest opportunity and all subsequent dates mentioned in this letter will be
adjusted appropriately.

You agree that where a condition is expressed to be subject to Hoare Govett's
reasonable opinion:

(a)     Hoare Govett will exercise its opinion in its absolute discretion,
        having regard to the Placing and Open Offer as a whole, and not to
        placees' interests individually; and

                                       3
<PAGE>

[LOGO OF HOARE GOVETT]

(b)     provided that Hoare Govett exercises its discretion in good faith, it
        shall not incur any liability to you whatsoever.

By signing and returning the attached Form of Confirmation, you will confirm
your agreement with us, on the terms, and subject to the conditions, of this
letter and subject to the Memorandum and Articles of Association of the Company,
to subscribe under the Placing for the number of New Ordinary Shares set out in
Boxes A and B on page 1 of this Letter at the Issue Price. Subject only to the
above conditions being satisfied or waived, your Placing Commitment will be
irrevocable.

Commissions

No commission will be payable to you in respect of your participation in the
Placing.

Hoare Govett will be paid a commission by the Company in relation to the Placing
equal to seven per cent. of the total funds raised under the Placing and Open
Offer. In order to retain cash within the Company and to align its interests
with those of institutional investors who are giving Placing Commitments, Hoare
Govett has agreed to take this commission principally in the form of equity at
the Issue Price provided that the total number of new Ordinary Shares received
by Hoare Govett shall be less than 3 per cent. of the then issued share capital
of the Company, with the remainder taken in cash.

Timetable

The date the Circular is posted will determine the timetable for the Open Offer
and EGM.

As soon as possible after the closing of the Open Offer, we will inform you of
the amount recalled by qualifying shareholders under the Open Offer and of the
number of Open Offer Shares and Firm Shares which are required to be taken up by
you ("Trade Confirmation"), together with the funds payment to be made.

Please note that ABN AMRO Equities (UK) Limited will act as our execution and
settlement agent. As such, all trades will be matched and settled with its CREST
Participant ID 590 (five nine zero). Trade confirmations will be issued by ABN
AMRO Equities (UK) Limited in the normal manner. Settlement will be free of all
charges, commissions and duties.

In the event that you have any queries in respect of settlement, please call
Rhys Thomas on 020 7678 7043 or Kevin Gant on 020 7678 0584.

Interest may be charged in respect of payments not received by us for value by
the required time referred to above at a rate equal to the London Inter-Bank
Offered Rate for seven day deposits in sterling plus five per cent. per annum as
determined by us.

In the event that the conditions are not fulfilled by 31 August 2001, the
Placing will not proceed and your rights and obligations under this letter shall
cease and determine. In such event, all funds delivered to us pursuant to this
letter will be returned to you by telegraphic transfer on your instructions or
by cheque.

Confirmations

By signing and returning the Form of Confirmation, you will be confirming that,
as a term of the acceptance of your Placing Commitment:

                                       4
<PAGE>

[LOGO OF HOARE GOVETT]

(a)     you have entered into this commitment solely on the basis of the
        information contained in the Presentation and this letter and you have
        not relied on any other representation or warranty in reaching your
        decision to acquire New Ordinary Shares under your Placing Commitment;

(b)     neither Hoare Govett nor the Company's sponsor, PricewaterhouseCoopers
        Corporate Finance, is acting for you in connection with the Placing and
        will not be responsible to you in respect of the Placing for providing
        protections afforded to their customers. In particular, you acknowledge
        that neither Hoare Govett nor PricewaterhouseCoopers Corporate Finance
        has made any recommendation to you in relation to the Placing and is not
        advising you with regard to the suitability or merits of the transaction
        or in connection with the arrangements set out in this letter. In
        addition, you acknowledge that you do not expect Hoare Govett or
        PricewaterhouseCoopers Corporate Finance to have any duties or
        responsibilities towards you similar or comparable to those imposed by
        The Securities and Futures Authority Limited's rules requiring "best
        execution", "suitability" and "risk warnings";

(c)     that you, or each person or body on whose behalf you accept your Placing
        Commitment (in whole or in part) or to whom you allocate such Placing
        Commitment (in whole or in part) has capacity and authority to enter
        into and perform the terms of such commitment and that you are entitled
        to accept your Placing Commitment under the laws of all relevant
        jurisdictions which apply to you, have complied and will fully comply
        with all such laws in relation to your Placing Commitment (including,
        where applicable, the Money Laundering Regulations 1993) and have
        obtained all governmental and other consents which may be required in
        relation to your Placing Commitment;

(f)     none of the New Ordinary Shares has been or will be registered under the
        Securities Act of 1933 of the United States (as amended) (the
        "Securities Act) or any of the relevant securities, laws of Canada or
        Australia and may not be offered, sold, taken up or delivered, directly
        or indirectly, into or within the United States except pursuant to an
        exemption from, or in transactions not subject to, the registration
        requirements of the Securities Act, and you represent, warrant and
        undertake that unless you are taking up New Ordinary Shares pursuant to
        such an exemption: (i) you are not within the United States, Canada,
        Japan or Australia and you are not a US person or a citizen of Canada,
        Japan or Australia; (ii) you have not offered, sold or delivered and
        will not offer, soil or deliver any of the New Ordinary Shares to
        persons within the United States, directly or indirectly, or into
        Canada, Japan or Australia; (iii) neither you, your affiliates, nor any
        persons acting on your behalf, have engaged or will engage in any
        directed selling efforts with respect to the New Ordinary Shares; (iv)
        you are not taking up the New Ordinary Shares for resale in or into the
        United States, Canada, Japan or Australia; and (v) you will not
        distribute any offering material, directly or indirectly, in or into the
        United States, Canada, Japan or Australia or to any persons resident in
        such countries. Terms and expressions used in this paragraph have the
        meanings given to them by Regulation S made under the Securities Act;

(g)     you will not procure the acquisition of any New Ordinary Shares by or
        for the account of any person with an address in Australia, Canada or
        Japan, you will not otter any New Ordinary Shares to any such person and
        you will not otherwise treat any New Ordinary Shares in any manner that
        would contravene any applicable Australian, Canadian, Japanese or other
        securities legislation;

(g)     you are a person who falls within paragraph 11(3) of the Financial
        Services Act 1986 (Investment Advertisements)(Exemptions) Order 1996 or
        of the kind described in Article 8(1) of the Financial Services Act 1986
        (investment Advertisements)(Exemptions)(No.2) Order 1995;

(h)     all notices, remittances and documents of title are sent at your own
        risk;

                                       5
<PAGE>

[LOGO OF HOARE GOVETT]

(i)     that to the extent you are a shareholder in Bright Station Plc, you will
        vote in favour of the resolutions to be put forward at the EGM to effect
        the proposals (as contemplated);

(j)     Hoare Gcvett may at its absolute discretion refuse or scale back your
        application for a Placing Commitment by any amount it deems fit; and

(k)     that your remittance will be honoured on first presentation.

Without prejudice to any of the above undertakings, you agree that, to the
extent you are or become a distributor of New Ordinary Shares (including
underwriters, dealers and all other persons who receive remuneration in respect
of securities sold) during the "distribution compliance period" (as such term is
defined under Regulation S of the United States Securities Act of 1933 (as
amended)) you will make all offers and sales of New Ordinary Shares during the
"distribution compliance period" only in accordance with Regulation S or an
exemption under the United States Securities Act of 1933 (as amended) or
pursuant to an effective registration statement under the said act. In addition,
if you shall sell New Ordinary Shares to a distributor, dealer or a person
receiving a selling concession you shall procure the purchaser is subject to the
same restrictions on offers and sales that apply to you.

You agree that settlement, or a series of settlements, with an aggregate value
of (pound)8,500 or greater, settled by way of third party payments, for example,
bankers draft, building society cheque or a cheque drawn by someone other than
the placee, are liable to be subject to verification of identity requirements to
comply with the Money Laundering Regulations 1993. This may involve verification
of names and addresses through a reputable agency. By returning the Letter of
Confirmation, you undertake to provide such evidence of identity, within such
reasonable time (in each case to be determined at the discretion of Hoare
Govett) as may be requested to ensure compliance with the Money Laundering
Regulations 1993. If satisfactory evidence and identity has not been obtained
within a reasonable time, then such settlement will not proceed any further but
without prejudice to the rights of Hoare Govett or the Company to take
proceedings to recover any loss suffered by any of them as a result of failing
to provide satisfactory evidence. In such event the settlement monies (without
interest) will be returned to the bank or building society account from which
payment was made.

The presentation and any accompanying materials distributed by the Company were
directed solely at persons failing within certain exemptions to section 57 of
the Financial Services Act 1986 and it was not and is not intended that they
should be acted upon in any way by persons who do not have professional
experience in matters relating to investments and who do not fall within the
relevant exemptions.

Any forward looking statements, including any projections, contained in the
Presentation have not been commented or reported on by the Companys auditors and
accordingly may not necessarily be on a basis which is consistent with the
Companys accounting policies. Actual results may differ substantially from
figures used for planning purposes only and accordingly any such forward looking
projections or projections should not be relied on in any manner whatsoever.

Time is of the essence as regards obligations set out in this Cotter and the
Letter of Confirmation.

                                       6
<PAGE>

[LOGO OF HOARE GOVETT]

This letter, the enclosed Letter of Confirmation and any contract which has been
or may be entered into between you and the Company on the terms of or pursuant
to this letter will be governed by and construed in accordance with English Law
and you have agreed to submit to the exclusive jurisdiction of the English
courts as regards any claim, dispute or matter arising out of or relating to
such contract, this letter and/or the enclosed Letter of Confirmation.

Whether or not this allocation is to be split amongst several accounts, IT IS
IMPERATIVE THAT THE ENCLOSED FORM OF CONFIRMATION IS COMPLETED, SIGNED AND
RETURNED TO US (FOR THE ATTENTION OF KEVIN GANT) BY FACSIMILE (020 7678 1134) OR
BY HAND IN RESPECT OF YOUR TOTAL PLACING COMMITMENT NOT LATER THAN 5.00 P.M. on,
30 May 2001.

Yours faithfully

/s/ [SIGNATURE ILLEGIBLE]

For and on behalf of
Hoare Govett Limited
Andrew C Chapman
Director - Corporate Finance
<PAGE>

[LOGO OF HOARE GOVETT]

                             FORM OF CONFIRMATION

Whether or not this allocation is to be split amongst several accounts, IT IS
IMPERATIVE THAT THIS FORM IS COMPLETED, SIGNED AND RETURNED TO US FOR THE
ATTENTION OF KEVIN GANT BY FACSIMILE (020 7678 1134) OR BY HAND IN RESPECT OF
THE TOTAL PLACING COMMITMENT SO AS TO BE RECEIVED BY US NOT LATER THAN 5:00 P.M.
ON 30 MAY 2001.

To:  Hoare Govett Limited                      Ref No.: ABN14
     199 Bishopsgate
     London EC2M 3XW

For the attention of Kevin Gant
-------------------------------

                                   ---------------------------------------------
                                               Box A                      Box B
                                         Firm Shares          Open Offer Shares

                                          24,321,858                  26,678,142
                                   ---------------------------------------------

Dear Sirs

Bright Station plc (the "Company")
Placing of 270,000,000 new ordinary shares of 1p each ("New Ordinary Shares") on
behalf of the Company at 5p per share (the "Issue Price")(the "Placing")

We hereby acknowledge receipt of your letter of 23 May 2001 (the "Placing
Letter"), the definitions contained in which shall apply in this Form of
Confirmation. We confirm that subject to and only on the basis of the terms and
conditions contained therein, we irrevocably agree to subscribe for the number
of New Ordinary Shares set out in Box A and in Box B (subject, in the case of
Box B, to clawback from qualifying shareholders).

This Form of Confirmation is binding upon receipt by you of this form.

We understand and accept the contents of the Placing Letter and in making this
confirmation give the acknowledgement and agreement required by that letter and
the confirmations required by the paragraph headed "Confirmations" in that
letter.

In the event of us/the funds managed or advised by us being required to take up
any New Ordinary Shares in respect of our/their Placing Commitment, we agree to
pay on demand the full amount due in respect of such participation in accordance
with the terms of the Placing Letter.

Signed: /s/ [ILLEGIBLE SIGNATURE]                        30th May, 2001
       ----------------------------------                --------

For and on behalf of [ILLEGIBLE]
                     ----------------------------

                                       8

<PAGE>

[LOGO OF HOARE GOVETT]

                                                    Hoare Govett Limited
                                                    250 Bishopsgate
                                                    London EC2M 4AA
                                                    Telephone +44(0)20 7678 8000
                                                    Facsimile +44(0)20 7678 1587

STRICTLY PRIVATE AND CONFIDENTIAL

                                                        TOTAL PLACING COMMITMENT
                                           -------------------------------------
                                                     Box A                 Box B
                                               Firm Shares     Open Offer Shares

                                                 5,837,246             6,162,754
                                           -------------------------------------
                                                                     29 May 2001

Robert Sanders Esq
Smith & Williamson
1 Riding House Street
London
W1A 3AS

For the attention of: Robert Sanders

Dear Sirs

Bright Station plc (the "Company")
Placing of 270,000,000 new ordinary shares of 1p each ("New Ordinary Shares") on
behalf of the Company at 5p per share (the "Issue Price") (the "Placing")

We refer to our telephone conversation and to the recent presentation made by
the Company to you in connection with the above fund raising (the
"Presentation").

It is currently proposed that 270,000,000 New Ordinary Shares will be issued in
connection with a placing and open offer to raise (pound)13.5 million (gross).
Under the proposed open offer (the "Open Offer"), up to 138,661,969 of the New
Ordinary Shares will be offered to qualifying shareholders (the "Open Offer
Shares") at the Issue Price on the basis of 4 Open Offer Shares for every 5
existing Ordinary Shares held. Accordingly, the Open Offer Shares are being
conditionally placed with institutional investors by Hoare Govett as agent for
the Company, subject to clawback under the Open Offer, and the remaining
131,338,031 New Ordinary Shares are being placed firm (the "Firm Shares"). The
New Ordinary Shares will rank pari passu in all respects with the Company's
existing ordinary shares.

It is currently proposed that a circular comprising a prospectus will be
published by the Company containing further details of the Placing and Open
Offer and other proposals (see below) on or before 29 June 2001 ("Circular").
The Circular will contain a notice convening an extraordinary general meeting of
the Company to approve the Placing and Open Offer and related proposals ("EGM").
Application will also be made for the New Ordinary Shares to be admitted to
listing on the Official List of the UK Listing Authority ("UKLA") and to trading
on the London Stock Exchange's main market for listed securities ("Admission").
On the basis that the Circular is published by the above date, it is expected
that Admission will become effective by no later than 23 July 2001.
<PAGE>

[LOGO OF HOARE GOVETT]

In addition to the Placing and Open Offer, it is also proposed that:

(a)     other than Mr Lomnitz, all of the current Directors will resign on
        Admission (Mr Lomnitz will remain as an executive Director). Messrs
        Jefferies (Non-executive Chairman), Hill (Chief Executive Officer),
        Canham (Chief Financial Officer) and Bair (non-executive Director) will
        be appointed to the Company's Board on Admission;

(b)     the total "pool" of share options capable of being issued under the
        Company's share option schemes will be increased from 10 per cent. of
        the issued share capital from time to time to 15 per cent;

(c)     the Company closes its OfficeShopper and Sparza operations, trading now
        having ceased;

(d)     between the date of this letter and completion of the Placing and Open
        Offer, the Company may be required to secure a temporary credit line and
        or debt bridge facility, which may be provided by some or all of the
        existing directors, to provide cash liquidity pending completion of the
        Placing and Open Offer;

(e)     in connection with the termination of their arrangements with the
        Company and the cancellation of their outstanding share options, Dan
        Wagner and Dave Mattey will be entitled, subject to completion of the
        Placing and Open Offer, to certain payments from the Company amounting
        to (pound)220,580 and 274,337 respectively, which amounts they have
        agreed will be applied in paying up such number of new Ordinary Shares
        in the Company as equals the amount of their respective payments divided
        by the Issue Price;

(f)     as of 31 March 2001, the Group had available cash resources of 7.4
        million ((pound)16.3 million at 31 December 2000). The Company announced
        on 2 May 2001 that they had available cash of 2.9 million as at 30 April
        2001.

(g)     The audit report for the year ended 31 December 2000, while unqualified,
        contains an explanatory paragraph making reference to a fundamental
        uncertainty concerning the going concern basis of preparation of the
        financial statements being dependent upon the successful conclusion of
        bridge funding and the Placing and Open Offer.

We have pleasure, as agent for the Company, in now offering you the number of
Firm Shares set out in Box A above and the number of Open Offer Shares set out
in Box B above, (together "Placing Commitment") (free of all expenses) at the
Issue Price subject to the terms and conditions in this letter and in the Form
of Confirmation and to the Money Laundering Regulations 1993. The Open Offer
Shares (but not the Firm Shares) will be subject to recall under the terms of
the Open Offer and the right is accordingly reserved to qualifying shareholders
to recall before the closing date for the Open Offer all or any of the Open
Offer Shares conditionally placed with you.

This letter, the terms of which are conditional (amongst other things) on a
draft press announcement ("Press Announcement") being released by the Company
confirming securing Placing Commitments of (pound)13.5 million, sets out the
basis on which you undertake to accept the Placing Commitment offered to you by
the Company (as set out above).

The Placing Commitments shall be made on the terms of this letter and any
additional terms and conditions as may be required to comply with the
requirements of the City Code on Takeovers and Mergers, the Financial Services
Authority acting in its capacity as the United Kingdom Listing Authority
("UKLA") and the London Stock Exchange.

                                       2
<PAGE>

[LOGO OF HOARE GOVETT]

You should note that the Placing and Open Offer is not being underwritten.

The Placing

The Circular is currently expected to be published by the Company no later than
29 June 2001. You are therefore making your decision whether or not to
participate in the Placing solely on the basis of the information contained in
the Presentation and in this letter. The Presentation may not have contained all
information necessary for you to make an informed assessment of the Company and
its prospects. It is a term of your participation in the Placing that you accept
this fact. However, your participation in the Placing will be conditional on the
following:

(a)     an announcement in relation to the Placing and Open Offer and related
        proposals being made in accordance with the Listing Rules of the UKLA
        ("Listing Rules");

(b)     the Circular being published in accordance with the Financial Services
        Act 1986 ("FSA") and the Listing Rules and containing a working capital
        statement in accordance with 6.E.16 of the Listing Rules which is
        unqualified except as to Admission;

(c)     the Circular (a) complying with the Listing Rules and section 146 of the
        FSA and (b) in Hoare Govett's reasonable opinion being and remaining
        until Admission accurate and not misleading in any material respect;

(d)     In Hoare Govett's reasonable opinion, there being no information in or
        omissions from the Circular which, when taken as a whole, are materially
        inconsistent with the information or position contained in the
        Presentation;

(e)     the resolutions being passed at the EGM without amendment which Hoare
        Govett reasonably regards as material;

(f)     the resignation of all of the Company's Directors with effect from
        Admission (other than Mr Lomnitz who will remain as an executive
        director);

(g)     prior to Admission, so far as Hoare Govett is aware, no order having
        been made or resolution passed in respect of the Company or any of its
        material subsidiaries for its or their winding up or dissolution or for
        it or them to enter into any arrangement or composition for the benefit
        of creditors, or the appointment of a receiver, administrative receiver,
        trustee or similar officer;

(h)     commitments being received by the Company (or its duly appointed agents)
        pursuant to the Placing for (pound)13.5 million (gross);

(i)     Admission becoming effective by no later than 31 August 2001.

Hoare Govett and the Company reserve the right to agree and extend the time for
the satisfaction of any of the above conditions provided that such time may not
be extended beyond 31 August 2001. In that event, we will inform you at the
earliest opportunity and all subsequent dates mentioned in this letter will be
adjusted appropriately.

You agree that where a condition is expressed to be subject to Hoare Govett's
reasonable opinion:

(a)     Hoare Govett will exercise its opinion in its absolute discretion,
        having regard to the Placing and Open Offer as a whole, and not to
        placees' interests individually; and

                                       3
<PAGE>

[LOGO OF HOARE GOVETT]

(b)     provided that Hoare Govett exercises its discretion in good faith, it
        shall not incur any liability to you whatsoever.

By signing and returning the attached Form of Confirmation, you will confirm
your agreement with us, on the terms, and subject to the conditions, of this
letter and subject to the Memorandum and Articles of Association of the Company,
to subscribe under the Placing for the number of New Ordinary Shares set out in
Boxes A and B on page 1 of this letter at the Issue Price. Subject only to the
above conditions being satisfied or waived, your Placing Commitment will be
irrevocable.

Commissions

No commission will be payable to you in respect of your participation in the
Placing.

Hoare Govett will be paid a commission by the Company in relation to the Placing
equal to seven per cent. of the total funds raised under the Placing and Open
Offer. In order to retain cash within the Company and to align its interests
with those of institutional investors who are giving Placing Commitments, Hoare
Govett has agreed to take this commission principally in the form of equity at
the Issue Price provided that the total number of new Ordinary Shares received
by Hoare Govett shall be less than 3 per cent. of the then issued share capital
of the Company, with the remainder taken in cash.

Timetable

The date the Circular is posted will determine the timetable for the Open Offer
and EGM.

As soon as possible after the closing of the Open Offer, we will inform you of
the amount recalled by qualifying shareholders under the Open Offer and of the
number of Open Offer Shares and Firm Shares which are required to be taken up by
you ("Trade Confirmation"), together with the funds payment to be made.

Please note that ABN AMRO Equities (UK) Limited will act as our execution and
settlement agent. As such, all trades will be matched and settled with its CREST
Participant ID 590 (five nine zero). Trade confirmations will be issued by ABN
AMRO Equities (UK) Limited in the normal manner. Settlement will be free of all
charges, commissions and duties.

In the event that you have any queries in respect of settlement, please call
Rhys Thomas on 020 7678 7043 or Kevin Gant on 020 7678 0584.

Interest may be charged in respect of payments not received by us for value by
the required time referred to above at a rate equal to the London Inter-Bank
Offered Rate for seven day deposits in sterling plus five per cent. per annum as
determined by us.

In the event that the conditions are not fulfilled by 31 August 2001, the
Placing will not proceed and your rights and obligations under this letter shall
cease and determine. In such event, all funds delivered to us pursuant to this
letter will be returned to you by telegraphic transfer on your instructions or
by cheque.

Confirmations

By signing and returning the Form of Confirmation, you will be confirming that,
as a term of the acceptance of your Placing Commitment:

                                       4
<PAGE>

[LOGO OF HOARE GOVETT]

(a)     you have entered into this commitment solely on the basis of the
        information contained in the Presentation and this letter and you have
        not relied on any other representation or warranty in reaching your
        decision to acquire New Ordinary Shares under your Placing Commitment;

(b)     neither Hoare Govett nor the Company's sponsor, PricewaterhouseCoopers
        Corporate Finance, is acting for you in connection with the Placing and
        will not be responsible to you in respect of the Placing for providing
        protections afforded to their customers. In particular, you acknowledge
        that neither Hoare Govett nor PricewaterhouseCoopers Corporate Finance
        has made any recommendation to you in relation to the Placing and is not
        advising you with regard to the suitability or merits of the transaction
        or in connection with the arrangements set out in this letter. In
        addition, you acknowledge that you do not expect Hoare Govett or
        PricewaterhouseCoopers Corporate Finance to have any duties or
        responsibilities towards you similar or comparable to those imposed by
        The Securities and Futures Authority Limited's rules requiring "best
        execution", "suitability" and "risk warnings";

(c)     that you, or each person or body on whose behalf you accept your Placing
        Commitment (in whole or in part) or to whom you allocate such Placing
        Commitment (in whole or in part) has capacity and authority to enter
        into and perform the terms of such commitment and that you are entitled
        to accept your Placing Commitment under the laws of all relevant
        jurisdictions which apply to you, have complied and will fully comply
        with all such laws in relation to your Placing Commitment (including,
        where applicable, the Money Laundering Regulations 1993) and have
        obtained all governmental and other consents which may be required in
        relation to your Placing Commitment;

(f)     none of the New Ordinary Shares has been or will be registered under the
        Securities Act of 1933 of the United States (as amended) (the
        "Securities Act") or any of the relevant securities, laws of Canada or
        Australia and may not be offered, sold, taken up or delivered, directly
        or indirectly, into or within the United States except pursuant to an
        exemption from, or in transactions not subject to, the registration
        requirements of the Securities Act, and you represent, warrant and
        undertake that unless you are taking up New Ordinary Shares pursuant to
        such an exemption: (i) you are not within the United States, Canada,
        Japan or Australia and you are not a US person or a citizen of Canada,
        Japan or Australia; (ii) you have not offered, sold or delivered and
        will not offer, sell or deliver any of the New Ordinary Shares to
        persons within the United States, directly or indirectly, or into
        Canada, Japan or Australia; (iii) neither you, your affiliates, nor any
        persons acting on your behalf, have engaged or will engage in any
        directed selling efforts with respect to the New Ordinary Shares; (iv)
        you are not taking up the New Ordinary Shares for resale in or into the
        United States, Canada, Japan or Australia; and (v) you will not
        distribute any offering material, directly or indirectly, in or into the
        United States, Canada, Japan or Australia or to any persons resident in
        such countries. Terms and expressions used in this paragraph have the
        meanings given to them by Regulation S made under the Securities Act;

(g)     you will not procure the acquisition of any New Ordinary Shares by or
        for the account of any person with an address in Australia, Canada or
        Japan, you will not offer any New Ordinary Shares to any such person and
        you will not otherwise treat any New Ordinary Shares in any manner that
        would contravene any applicable Australian, Canadian, Japanese or other
        securities legislation;

(g)     you are a person who falls within paragraph 11(3) of the Financial
        Services Act 1986 (Investment Advertisements)(Exemptions) Order 1996 or
        of the kind described in Article 8(1) of the Financial Services Act 1986
        (investment Advertisements)(Exemptions)(No.2) Order 1995;

(h)     all notices, remittances and documents of title are sent at your own
        risk;

                                       5
<PAGE>

[LOGO OF HOARE GOVETT]

(i)     that to the extent you are a shareholder in Bright Station Plc, you will
        vote in favour of the resolutions to be put forward at the EGM to effect
        the proposals (as contemplated);

(j)     Hoare Govett may at its absolute discretion refuse or scale back your
        application for a Placing Commitment by any amount it deems fit; and

(k)     that your remittance will be honoured on first presentation.

Without prejudice to any of the above undertakings, you agree that, to the
extent you are or become a distributor of New Ordinary Shares (including
underwriters, dealers and all other persons who receive remuneration in respect
of securities sold) during the "distribution compliance period" (as such term is
defined under Regulation S of the United States Securities Act of 1933 (as
amended)) you will make all offers and sales of New Ordinary Shares during the
"distribution compliance period" only in accordance with Regulation S or an
exemption under the United States Securities Act of 1933 (as amended) or
pursuant to an effective registration statement under the said act. In addition,
if you shall sell New Ordinary Shares to a distributor, dealer or a person
receiving a selling concession you shall procure the purchaser is subject to the
same restrictions on offers and sales that apply to you.

You agree that settlement, or a series of settlements, with an aggregate value
of (pound)8,500 or greater, settled by way of third party payments, for example,
bankers draft, building society cheque or a cheque drawn by someone other than
the placee, are liable to be subject to verification of identity requirements to
comply with the Money Laundering Regulations 1993. This may involve verification
of names and addresses through a reputable agency. By returning the Letter of
Confirmation, you undertake to provide such evidence of identity, within such
reasonable time (in each case to be determined at the discretion of Hoare
Govett) as may be requested to ensure compliance with the Money Laundering
Regulations 1993. If satisfactory evidence and identity has not been obtained
within a reasonable time, then such settlement will not proceed any further but
without prejudice to the rights of Hoare Govett or the Company to take
proceedings to recover any loss suffered by any of them as a result of failing
to provide satisfactory evidence. In such event the settlement monies (without
interest) will be returned to the bank or building society account from which
payment was made.

The presentation and any accompanying materials distributed by the Company were
directed solely at persons falling within certain exemptions to section 57 of
the Financial Services Act 1986 and it was not and is not intended that they
should be acted upon in any way by persons who do not have professional
experience in matters relating to investments and who do not fall within the
relevant exemptions.

Any forward looking statements, including any projections, contained in the
Presentation have not been commented or reported on by the Company's auditors
and accordingly may not necessarily be on a basis which is consistent with the
Company's accounting policies. Actual results may differ substantially from
figures used for planning purposes only and accordingly any such forward looking
projections or projections should not be relied on in any manner whatsoever.

Time is of the essence as regards obligations set out in this letter and the
Letter of Confirmation.

                                       6
<PAGE>

[LOGO OF HOARE GOVETT]

This letter, the enclosed Letter of Confirmation and any contract which has been
or may be entered into between you and the Company on the terms of or pursuant
to this letter will be governed by and construed in accordance with English Law
and you have agreed to submit to the exclusive jurisdiction of the English
courts as regards any claim, dispute or matter arising out of or relating to
such contract, this letter and/or the enclosed Letter of Confirmation.

Whether or not this allocation is to be split amongst several accounts, IT IS
IMPERATIVE THAT THE ENCLOSED FORM OF CONFIRMATION IS COMPLETED, SIGNED AND
RETURNED TO US (FOR THE ATTENTION OF KEVIN GANT) BY FACSIMILE (020 7678 1134) OR
BY HAND IN RESPECT OF YOUR TOTAL PLACING COMMITMENT NOT LATER THAN 5.00 P.M. on,
30 May 2001.

Yours faithfully

/s/ [SIGNATURE ILLEGIBLE]

For and on behalf of
Hoare Govett Limited
Andrew C Chapman
Director - Corporate Finance

                                       7
<PAGE>

[LOGO OF HOARE GOVETT]

                             FORM OF CONFIRMATION

Whether or not this allocation is to be split amongst several accounts, IT IS
IMPERATIVE THAT THIS FORM IS COMPLETED, SIGNED AND RETURNED TO US FOR THE
ATTENTION OF KEVIN GANT BY FACSIMILE (020 7678 1134) OR BY HAND IN RESPECT OF
THE TOTAL PLACING COMMITMENT SO AS TO BE RECEIVED BY US NOT LATER THAN 5:00 P.M.
ON 30 MAY 2001.

To:  Hoare Govett Limited                      Ref No.: ABN10
     199 Bishopsgate
     London EC2M 3XW

For the attention of Kevin Gant
-------------------------------

                                   ---------------------------------------------
                                               Box A                      Box B
                                         Firm Shares          Open Offer Shares

                                           5,837,246                   6,162,754
                                   ---------------------------------------------

Dear Sirs

Bright Station plc (the "Company")
Placing of 270,000,000 new ordinary shares of 1p each ("New Ordinary Shares") on
behalf of the Company at 5p per share (the "Issue Price")(the "Placing")

We hereby acknowledge receipt of your letter of 23 May 2001 (the "Placing
Letter"), the definitions contained in which shall apply in this Form of
Confirmation. We confirm that subject to and only on the basis of the terms and
conditions contained therein, we irrevocably agree to subscribe for the number
of New Ordinary Shares set out in Box A and in Box B (subject, in the case of
Box B, to clawback from qualifying shareholders).

This Form of Confirmation is binding upon receipt by you of this form.

We understand and accept the contents of the Placing Letter and in making this
confirmation give the acknowledgement and agreement required by that letter and
the confirmations required by the paragraph headed "Confirmations" in that
letter.

In the event of us/the funds managed or advised by us being required to take up
any New Ordinary Shares in respect of our/their Placing Commitment, we agree to
pay on demand the full amount due in respect of such participation in accordance
with the terms of the Placing Letter.

Signed: /s/ [ILLEGIBLE SIGNATURE]                        30th May, 2001
        ---------------------------------                --------

For and on behalf of Smith Williamson Smaller Securities Trust
                     -----------------------------------------

                                       8
<PAGE>

[LOGO OF HOARE GOVETT]

                                                    Hoare Govett Limited
                                                    250 Bishopsgate
                                                    London EC2M 4AA
                                                    Telephone +44(0)20 7678 8000
                                                    Facsimile +44(0)20 7678 1587

STRICTLY PRIVATE AND CONFIDENTIAL

                                                        TOTAL PLACING COMMITMENT
                                            ------------------------------------
                                                     Box A                 Box B
                                               Firm Shares     Open Offer Shares

                                                 3,405,060             3,594,940
                                            ------------------------------------
                                                                     29 May 2001

Matthew Beardmore-Grey Esq
Prudential
Governor's House
Laurence Poultney Hill
London
EC4R 0EU

For the attention of: Matthew Beardmore-Grey

Dear Sirs

Bright Station plc (the "Company")
Placing of 270,000,000 new ordinary shares of 1p each ("New Ordinary Shares") on
behalf of the Company at 5p per share (the "Issue Price") (the "Placing")

We refer to our telephone conversation and to the recent presentation made by
the Company to you in connection with the above fund raising (the
"Presentation").

It is currently proposed that 270,000,000 New Ordinary Shares will be issued in
connection with a placing and open offer to raise (pound)13.5 million (gross).
Under the proposed open offer (the "Open Offer"), up to 138,661,969 of the New
Ordinary Shares will be offered to qualifying shareholders (the "Open Offer
Shares") at the Issue Price on the basis of 4 Open Offer Shares for every 5
existing Ordinary Shares held. Accordingly, the Open Offer Shares are being
conditionally placed with institutional investors by Hoare Govett as agent for
the Company, subject to clawback under the Open Offer, and the remaining
131,338,031 New Ordinary Shares are being placed firm (the "Firm Shares"). The
New Ordinary Shares will rank pari passu in all respects with the Company's
existing ordinary shares.

It is currently proposed that a circular comprising a prospectus will be
published by the Company containing further details of the Placing and Open
Offer and other proposals (see below) on or before 29 June 2001 ("Circular").
The Circular will contain a notice convening an extraordinary general meeting of
the Company to approve the Placing and Open Offer and related proposals ("EGM").
Application will also be made for the New Ordinary Shares to be admitted to
listing on the Official List of the UK Listing Authority ("UKLA") and to trading
on the London Stock Exchange's main market for listed securities ("Admission").
On the basis that the Circular is published by the above date, it is expected
that Admission will become effective by no later than 23 July 2001.
<PAGE>

[LOGO OF HOARE GOVETT]

In addition to the Placing and Open Offer, it is also proposed that:

(a)     other than Mr Lomnitz, all of the current Directors will resign on
        Admission (Mr Lomnitz will remain as an executive Director). Messrs
        Jefferies (Non-executive Chairman), Hill (Chief Executive Officer),
        Canham (Chief Financial Officer) and Bair (non-executive Director) will
        be appointed to the Company's Board on Admission;

(b)     the total "pool" of share options capable of being issued under the
        Company's share option schemes will be increased from 10 per cent. of
        the issued share capital from time to time to 15 per cent;

(c)     the Company closes its OfficeShopper and Sparza operations, trading now
        having ceased;

(d)     between the date of this letter and completion of the Placing and Open
        Offer, the Company may be required to secure a temporary credit line and
        or debt bridge facility, which may be provided by some or all of the
        existing directors, to provide cash liquidity pending completion of the
        Placing and Open Offer;

(e)     in connection with the termination of their arrangements with the
        Company and the cancellation of their outstanding share options, Dan
        Wagner and Dave Mattey will be entitled, subject to completion of the
        Placing and Open Offer, to certain payments from the Company amounting
        to (pound)220,580 and (pound)274,337 respectively, which amounts they
        have agreed will be applied in paying up such number of new Ordinary
        Shares in the Company as equals the amount of their respective payments
        divided by the Issue Price;

(f)     as of 31 March 2001, the Group had available cash resources of
        (pound)7.4 million ((pound)16.3 million at 31 December 2000). The
        Company announced on 2 May 2001 that they had available cash of
        (pound)2.9 million as at 30 April 2001.

(g)     The audit report for the year ended 31 December 2000, while unqualified,
        contains an explanatory paragraph making reference to a fundamental
        uncertainty concerning the going concern basis of preparation of the
        financial statements being dependent upon the successful conclusion of
        bridge funding and the Placing and Open Offer.

We have pleasure, as agent for the Company, in now offering you the number of
Firm Shares set out in Box A above and the number of Open Offer Shares set out
in Box B above, (together "Placing Commitment") (free of all expenses) at the
Issue Price subject to the terms and conditions in this letter and in the Form
of Confirmation and to the Money Laundering Regulations 1993. The Open Offer
Shares (but not the Firm Shares) will be subject to recall under the terms of
the Open Offer and the right is accordingly reserved to qualifying shareholders
to recall before the closing date for the Open Offer all or any of the Open
Offer Shares conditionally placed with you.

This letter, the terms of which are conditional (amongst other things) on a
draft press announcement ("Press Announcement") being released by the Company
confirming securing Placing CommItments of (pound)13.5 million, sets out the
basis on which you undertake to accept the Placing Commitment offered to you by
the Company (as set out above).

The Placing Commitments shall be made on the terms of this letter and any
additional terms and conditions as may be required to comply with the
requirements of the City Code on Takeovers and Mergers, the Financial Services
Authority acting in its capacity as the United Kingdom Listing Authority
("UKLA") and the London Stock Exchange.

                                       2
<PAGE>

[LOGO OF HOARE GOVETT]

You should note that the Placing and Open Offer is not being underwritten.

The Placing

The Circular is currently expected to be published by the Company no later than
29 June 2001. You are therefore making your decision whether or not to
participate in the Placing solely on the basis of the information contained in
the Presentation and in this letter. The Presentation may not have contained all
information necessary for you to make an informed assessment of the Company and
its prospects. It is a term of your participation in the Placing that you accept
this fact. However, your participation in the Placing will be conditional on the
following:

(a)     an announcement in relation to the Placing and Open Offer and related
        proposals being made in accordance with the Listing Rules of the UKLA
        ("Listing Rules");

(b)     the Circular being published in accordance with the Financial Services
        Act 1986 ("FSA") and the Listing Rules and containing a working capital
        statement in accordance with 6.E.16 of the Listing Rules which is
        unqualified except as to Admission;

(c)     the Circular (a) complying with the Listing Rules and section 146 of the
        FSA and (b) in Hoare Govett's reasonable opinion being and remaining
        until Admission accurate and not misleading in any material respect;

(d)     In Hoare Govett's reasonable opinion, there being no information in or
        omissions from the Circular which, when taken as a whole, are materially
        inconsistent with the information or position contained in the
        Presentation;

(e)     the resolutions being passed at the EGM without amendment which Hoare
        Govett reasonably regards as material;

(f)     the resignation of all of the Company's Directors with effect from
        Admission (other than Mr Lomnitz who will remain as an executive
        director);

(g)     prior to Admission, so far as Hoare Govett is aware, no order having
        been made or resolution passed in respect of the Company or any of its
        material subsidiaries for its or their winding up or dissolution or for
        it or them to enter into any arrangement or composition for the benefit
        of creditors, or the appointment of a receiver, administrative receiver,
        trustee or similar officer;

(h)     commitments being received by the Company (or its duly appointed agents)
        pursuant to the Placing for (pound)13.5 million (gross);

(i)     Admission becoming effective by no later than 31 August 2001.

Hoare Govett and the Company reserve the right to agree and extend the time for
the satisfaction of any of the above conditions provided that such time may not
be extended beyond 31 August 2001. In that event, we will inform you at the
earliest opportunity and all subsequent dates mentioned in this letter will be
adjusted appropriately.

You agree that where a condition is expressed to be subject to Hoare Govett's
reasonable opinion:

(a)     Hoare Govett will exercise its opinion in its absolute discretion,
        having regard to the Placing and Open Offer as a whole, and not to
        placees' interests individually; and

                                       3
<PAGE>

[LOGO OF HOARE GOVETT]

(b)     provided that Hoare Govett exercises its discretion in good faith, it
        shall not incur any liability to you whatsoever.

By signing and returning the attached Form of Confirmation, you will confirm
your agreement with us, on the terms, and subject to the conditions, of this
letter and subject to the Memorandum and Articles of Association of the Company,
to subscribe under the Placing for the number of New Ordinary Shares set out in
Boxes A and B on page 1 of this letter at the Issue Price. Subject only to the
above conditions being satisfied or waived, your Placing Commitment will be
irrevocable.

Commissions

No commission will be payable to you in respect of your participation in the
Placing.

Hoare Govett will be paid a commission by the Company in relation to the Placing
equal to seven per cent. of the total funds raised under the Placing and Open
Offer. In order to retain cash within the Company and to align its interests
with those of institutional investors who are giving Placing Commitments, Hoare
Govett has agreed to take this commission principally in the form of equity at
the Issue Price provided that the total number of new Ordinary Shares received
by Hoare Govett shall be less than 3 per cent. of the then issued share capital
of the Company, with the remainder taken in cash.

Timetable

The date the Circular is posted will determine the timetable for the Open Offer
and EGM.

As soon as possible after the closing of the Open Offer, we will inform you of
the amount recalled by qualifying shareholders under the Open Offer and of the
number of Open Offer Shares and Firm Shares which are required to be taken up by
you ("Trade Confirmation"), together with the funds payment to be made.

Please note that ABN AMRO Equities (UK) Limited will act as our execution and
settlement agent. As such, all trades will be matched and settled with its CREST
Participant ID 590 (five nine zero). Trade confirmations will be issued by ABN
AMRO Equities (UK) Limited in the normal manner. Settlement will be free of all
charges, commissions and duties.

In the event that you have any queries in respect of settlement, please call
Rhys Thomas on 020 7678 7043 or Kevin Gant on 020 7678 0584.

Interest may be charged in respect of payments not received by us for value by
the required time referred to above at a rate equal to the London Inter-Bank
Offered Rate for seven day deposits in sterling plus five per cent. per annum as
determined by us.

In the event that the conditions are not fulfilled by 31 August 2001, the
Placing will not proceed and your rights and obligations under this letter shall
cease and determine. In such event, all funds delivered to us pursuant to this
letter will be returned to you by telegraphic transfer on your instructions or
by cheque.

Confirmations

By signing and returning the Form of Confirmation, you will be confirming that,
as a term of the acceptance of your Placing Commitment:

                                       4
<PAGE>

[LOGO OF HOARE GOVETT]

(a)     you have entered into this commitment solely on the basis of the
        information contained in the Presentation and this letter and you have
        not relied on any other representation or warranty in reaching your
        decision to acquire New Ordinary Shares under your Placing Commitment;

(b)     neither Hoare Govett nor the Companys sponsor, PricewaterhouseCoopers
        Corporate Finance, is acting for you in connection with the Placing and
        will not be responsible to you in respect of the Placing for providing
        protections afforded to their customers. In particular, you acknowledge
        that neither Hoare Govett nor PricewaterhouseCoopers Corporate Finance
        has made any recommendation to you in relation to the Placing and is not
        advising you with regard to the suitability or merits of the transaction
        or in connection with the arrangements set out In this letter. In
        addition, you acknowledge that you do not expect Hoare Govett or
        PricewaterhouseCoopers Corporate Finance to have any duties or
        responsibilities towards you similar or comparable to those imposed by
        The Securities and Futures Authority Limited's rules requiring best
        execution, suitability and risk warnings";

(c)     that you, or each person or body on whose behalf you accept your Placing
        Commitment (in whole or in part) or to whom you allocate such Placing
        Commitment (in whole or in part) has capacity and authority to enter
        into and perform the terms of such commitment and that you are entitled
        to accept your Placing Commitment under the laws of all relevant
        jurisdictions which apply to you, have complied and will fully comply
        with all such laws in relation to your Placing Commitment (including,
        where applicable, the Money Laundering Regulations 1993) and have
        obtained all governmental and other consents which may be required in
        relation to your Placing Commitment;

(f)     none of the New Ordinary Shares has been or will be registered under the
        Securities Act of 1933 of the United States (as amended) (the
        "Securities Act") or any of the relevant securities, laws of Canada or
        Austraila and may not be offered, sold, taken up or delivered, directly
        or indirectly, into or within the United States except pursuant to an
        exemption from, or in transactions not subject to, the registration
        requirements of the Securities Act, and you represent, warrant and
        undertake that unless you are taking up New Ordinary Shares pursuant to
        such an exemption: (i) you are not within the United States, Canada,
        Japan or Australia and you are not a US person or a citizen of Canada,
        Japan or Australia; (ii) you have not offered, sold or delivered and
        will not offer, soil or deliver any of the New Ordinary Shares to
        persons within the United States, directly or indirectly, or into
        Canada, Japan or Australia; (iii) neither you, your affiliates, nor any
        persons acting on your behalf, have engaged or will engage in any
        directed selling efforts with respect to the New Ordinary Shares; (iv)
        you are not taking up the New Ordinary Shares for resale in or into the
        United States, Canada, Japan or Australia; and (v) you will not
        distribute any offering material, directly or indirectly, in or into the
        United States, Canada, Japan or Australia or to any persons resident in
        such countries. Terms and expressions used in this paragraph have the
        meanings given to them by Regulation S made under the Securities Act;

(g)     you will not procure the acquisition of any New Ordinary Shares by or
        for the account of any person with an address in Australia, Canada or
        Japan, you will not otter any New Ordinary Shares to any such person and
        you will not otherwise treat any New Ordinary Shares in any manner that
        would contravene any applicable Australian, Canadian, Japanese or other
        securities legislation;

(g)     you are a person who falls within paragraph 11(3) of the Financial
        Services Act 1986 (Investment Advertisements)(Exemptions) Order 1996 or
        of the kind described in Article 8(1) of the Financial Services Act 1986
        (Investment Advertisements)(Exemptions)(No.2) Order 1995;

(h)     all notices, remittances and documents of title are sent at your own
        risk;

                                       5
<PAGE>

[LOGO OF HOARE GOVETT]

(i)     that to the extent you are a shareholder in Bright Station Plc, you will
        vote in favour of the resolutions to be put forward at the EGM to effect
        the proposals (as contemplated);

(j)     Hoare Gcvett may at its absolute discretion refuse or scale back your
        application for a Placing Commitment by any amount it deems fit; and

(k)     that your remittance will be honoured on first presentation.

Without prejudice to any of the above undertakings, you agree that, to the
extent you are or become a distributor of New Ordinary Shares (including
underwriters, dealers and all other persons who receive remuneration in respect
of securities sold) during the "distribution compliance period" (as such term is
defined under Regulation S of the United States Securities Act of 1933 (as
amended)) you will make all offers and sales of New Ordinary Shares during the
"distribution compliance period" only in accordance with Regulation S or an
exemption under the United States Securities Act of 1933 (as amended) or
pursuant to an effective registration statement under the said act. In addition,
if you shall sell New Ordinary Shares to a distributor, dealer or a person
receiving a selling concession you shall procure the purchaser is subject to the
same restrictions on offers and sales that apply to you.

You agree that settlement, or a series of settlements, with an aggregate value
of (pound)8,500 or greater, settled by way of third party payments, for example,
bankers draft, building society cheque or a cheque drawn by someone other than
the placee, are liable to be subject to verification of identity requirements to
comply with the Money Laundering Regulations 1993. This may involve verification
of names and addresses through a reputable agency. By returning the Letter of
Confirmation, you undertake to provide such evidence of identity, within such
reasonable time (in each case to be determined at the discretion of Hoare
Govett) as may be requested to ensure compliance with the Money Laundering
Regulations 1993. If satisfactory evidence and identity has not been obtained
within a reasonable time, then such settlement will not proceed any further but
without prejudice to the rights of Hoare Govett or the Company to take
proceedings to recover any loss suffered by any of them as a result of failing
to provide satisfactory evidence. In such event the settlement monies (without
interest) will be returned to the bank or building society account from which
payment was made.

The presentation and any accompanying materials distributed by the Company were
directed solely at persons failing within certain exemptions to section 57 of
the Financial Services Act 1986 and it was not and is not intended that they
should be acted upon in any way by persons who do not have professional
experience in matters relating to investments and who do not fall within the
relevant exemptions.

Any forward looking statements, including any projections, contained in the
Presentation have not been commented or reported on by the Company's auditors
and accordingly may not necessarily be on a basis which is consistent with the
Company's accounting policies. Actual results may differ substantially from
figures used for planning purposes only and accordingly any such forward looking
projections or projections should not be relied on in any manner whatsoever.

Time is of the essence as regards obligations set out in this letter and the
Letter of Confirmation.

                                       6
<PAGE>

[LOGO OF HOARE GOVETT]

This letter, the enclosed Letter of Confirmation and any contract which has been
or may be entered into between you and the Company on the terms of or pursuant
to this letter will be governed by and construed in accordance with English Law
and you have agreed to submit to the exclusive jurisdiction of the English
courts as regards any claim, dispute or matter arising out of or relating to
such contract, this letter and/or the enclosed Letter of Confirmation.

Whether or not this allocation is to be split amongst several accounts, IT IS
IMPERATIVE THAT THE ENCLOSED FORM OF CONFIRMATION IS COMPLETED, SIGNED AND
RETURNED TO US (FOR THE ATTENTION OF KEVIN GANT) BY FACSIMILE (020 7678 1134) OR
BY HAND IN RESPECT OF YOUR TOTAL PLACING COMMITMENT NOT LATER THAN 5.00 P.M. on,
30 May 2001.

Yours faithfully

/s/ [SIGNATURE ILLEGIBLE]

For and on behalf of
Hoare Govett Limited
Andrew C Chapman
Director - Corporate Finance

                                       7
<PAGE>

[LOGO OF HOARE GOVETT]

                             FORM OF CONFIRMATION

Whether or not this allocation is to be split amongst several accounts, IT IS
IMPERATIVE THAT THIS FORM IS COMPLETED, SIGNED AND RETURNED TO US FOR THE
ATTENTION OF KEVIN GANT BY FACSIMILE (020 7678 1134) OR BY HAND IN RESPECT OF
THE TOTAL PLACING COMMITMENT SO AS TO BE RECEIVED BY US NOT LATER THAN 5:00 P.M.
ON 30 MAY 2001.

To:  Hoare Govett Limited                      Ref No.: ABN5
     199 Bishopsgate
     London EC2M 3XW

For the attention of Kevin Gant
-------------------------------

                                   ---------------------------------------------
                                               Box A                      Box B
                                         Firm Shares          Open Offer Shares

                                           3,405,060                   3,584,340
                                   ---------------------------------------------

Dear Sirs

Bright Station plc (the "Company")
Placing of 270,000,000 new ordinary shares of 1p each ("New Ordinary Shares") on
behalf of the Company at 5p per share (the "Issue Price")(the "Placing")

We hereby acknowledge receipt of your letter of 23 May 2001 (the "Placing
Letter"), the definitions contained in which shall apply in this Form of
Confirmation. We confirm that subject to and only on the basis of the terms and
conditions contained therein, we irrevocably agree to subscribe for the number
of New Ordinary Shares set out in Box A and in Box B (subject, in the case of
Box B, to clawback from qualifying shareholders).

This Form of Confirmation is binding upon receipt by you of this form.

We understand and accept the contents of the Placing Letter and in making this
confirmation give the acknowledgement and agreement required by that letter and
the confirmations required by the paragraph headed "Confirmations" in that
letter.

In the event of us/the funds managed or advised by us being required to take up
any New Ordinary Shares in respect of our/their Placing Commitment, we agree to
pay on demand the full amount due in respect of such participation in accordance
with the terms of the Placing Letter.

Signed: /s/ [ILLEGIBLE SIGNATURE]                        31st May, 2001
       ----------------------------------                --------

For and on behalf of [ILLEGIBLE]
                     ----------------------------

                                       8<PAGE>

                                                                     Exhibit 4.7

                                  antfactory

Bright Station plc
The Communications Building
48 Leicester Square
London WC2H 7DB

12 June 2001

Dear Sirs,

Re: (pound)1,500,000 Bridge Facility

Antfactory Investments BV (the "Lender" or "antfactory") is pleased to make
available to Bright Station Plc, a company Incorporated in England under Company
Number 01890236, with its registered office at the address listed above, (the
"Borrower" or "Bright Station") a bridge facility (the "Facility") on the terms
and conditions of this Letter Agreement.

1.      Amount

The amount available under the Facility is (pound)1,500,000 (the "Facility
Amount").

2.      Purpose

The parties agree that the funds drawn down under the Facility (the "Loan") will
be used only to provide working capital for Bright Station and its subsidiary,
Smartlogik Limited, a company incorporated in England under Company Number
03434777, with its registered office also at the address listed above
("Smartlogik").

3.      Availability and Draw down

Subject to the terms of this Letter Agreement, the Facility shall be available
from the date of Bright Stations acceptance of this letter agreement, but in no
event later than 12 pm (London time) on 13 July 2001.

Subject to satisfaction of the conditions precedent set out in Clause 8. hereof,
the Loan may be drawn down by the Lender in three equal tranches of
(pound)500,000 (each a "Tranche" and collectively the "Tranches") upon receipt
by the Lender of a notice in writing (the "Draw down Notice") no less than 4
clear business days prior to the date of the draw down; provided, however, that
neither the second nor the third Tranche may be drawn down earlier than the
fifth business day following the draw down of the previous Tranche.

As agreed between the Borrower and the Lender, the availability of the Facility
is conditional on the Lender or a member of the group to which the Lender
belongs purchasing on the open market (pound)100 in value of shares in the
capital of the Borrower such that the acquirer has the same rights as all other
shareholders to participate in shareholder meetings, to receive information
relating to the Borrower

--------------------------------------------------------------------------------
                           Antfactory Investments B.V.

Registered Office:
Brouwersgracht 136
1013 HA Amsterdam
Company No: 34137970
Tel: +31 (0) 20 627 0009
Fax: +31 (0) 20 344 5701
<PAGE>

                                  antfactory

and to participate in the Placing, as defined below, if it so desires. The
Lender acknowledges that this condition has been satisfied.

4.      Term and Repayment

The Borrower hereby binds and obliges itself to repay all amounts borrowed, the
corresponding interest (as set out in Clause 5.) and any fees and expenses (as
set out in Clause 6.) under the Facility on the earlier of:

     a.   the failure by the requisite majority of shareholders of Bright
          Station to approve the raising of (pound)13.5 million gross (the
          "Placing") at an Extraordinary General Meeting of its shareholders to
          occur by 13 July 2001 (the "EGM");

     b.   2 pm (London time) on 13 July 2001;

     c.   the date on which the Borrower receives financing of any kind from one
          or more third parties of an amount equal to or greater than the
          Facility Amount; or

     d.   the date of the occurrence of an Event of Default, as defined in
          Clause 11 of this Letter Agreement,

(such earlier date under paragraphs a. -d. above being the "Repayment Date").

5.      Interest

Interest on the Loan will be charged on the following basis (the "Interest"):

First Tranche           5% over Base Rate from time to time
Second Tranche          7% over Base Rate from time to time
Third Tranche           9% over Base Rate from time to time

For the purposes of this letter agreement, "Base Rate" means the London Inter
Bank Offered Rate for UK Sterling appearing on the Telerate Page 3750 (or such
other page as the parties may agree) at 11:00 am (London time) on the date of
the Draw down Notice for each Tranche as notified to the Lender by the Lender's
bankers.

Interest shall accrue on a daily basis from the date each Tranche is drawn down
by the Borrower to and including the date of its payment and shall be payable,
together with the Loan, on the Repayment Date. Any amount owing under the Loan,
including any Interest, which is not repaid on the Repayment Date shall accrue
interest on a daily basis at a rate of 9% over Base Rate from time to time (the
"Default Rate"), up to and including the date of its repayment.

The amount of Interest due and owing shall be calculated by the Lender and
notified to the Borrower on the Repayment Date or such other date as it is being
paid.

6.      Fees and Expenses

The parties agree that the Facility shall be subject to payment by the Borrower
of the following fees and expenses.

Commitment Fee: A commitment fee of 3% of the Facility Amount becomes due upon
acceptance by the Borrower of the terms of this Letter Agreement in

                                      -2-
<PAGE>

                                  antfactory

accordance with Clause 19. below and shall be payable to the Lender in
accordance with this Clause 6. (the "Commitment Fee").

Draw down Fees: A separate (pound)50,000 draw down fee is payable to the Lender
upon the drawdown of each Tranche (the "Draw down Fees").

The Borrower shall pay the Lender (pound)15,000 as a contribution to the
Lender's reasonable legal fees and expenses and other out of pocket expenses
(including any applicable VAT) incurred by the Lender in connection with the
negotiation and granting of the Facility and any security relating to amounts
drawn down under the Loan (and including the preparation of any documentation
relating thereto) (the "Transaction Expenses").

Except where deducted by the Lender from amounts drawn down by the Borrower as
provided for in this Clause 6, all monies to be repaid or paid, as the case may
be, by the Borrower to the Lender shall be transferred to the Lender on demand
by means of electronic wire transfer into a bank account to be designated by the
Lender.

Upon the Borrower's draw down of the first Tranche, the Lender shall deduct the
Commitment Fee, together with the initial Draw down Fee and the Transaction
Expenses in full from the amount to be transferred to the Borrower under the
first Tranche. In the event that no Tranche is drawn down under the Facility,
the Commitment Fee and the Transaction Expenses shall be paid on written demand
by the Lender.

The Draw down Fees relating to the second and the third Tranches shall be
deducted from the amount to be transferred to the Borrower under each such
Tranche.

The Commitment Fee, the Draw down Fees and the Transaction Expenses constitute
the "Fees and Expenses". Where Fees and Expenses are not paid when they become
payable or are demanded, as the case may be, they will accrue interest at the
Default Rate from the date they become payable or are demanded to and including
the date of their payment.

7.      Security

The Loan will be secured as detailed below.

The parties agree that the Lender shall have the following security:

     a.   A first fixed and floating charge (in the form previously agreed
          between us and initialled by both of us for the purpose of
          identification) over all tangible and intangible assets of the
          Borrower (including over any shares or other securities beneficially
          owned by Bright Station) or such other security as most closely
          approximates such a charge in the event that the assets in question
          are located outside the United Kingdom. For greater certainty the
          fixed charge referred to above will include a fixed charge over the:
          (i) 429,127 ordinary shares in the capital of Sopheon PLC owned by and
          registered in the name of the Borrower (the "Sopheon Shares"), (ii)
          30,000,000 shares in the capital of Smartlogik Holdings plc
          ("Smartlogik Holdings") owned by and registered in the name of the
          Borrower (the "Smartlogik Shares") and (iii) 28,800,000 shares in the
          capital of the Japanese subsidiary, KMK DigiTex Co, Ltd, ("KMK")
          legally and beneficially owned by the Borrower (the "KMK Shares");

                                      -3-
<PAGE>

                                  antfactory

     b.   An engagement letter (substantially in the form attached hereto as
          Schedule A) appointing ICE Securities Limited as the Borrower's
          exclusive agent for the purposes of effecting a sale of the Sopheon
          Shares at the Lenders sole direction and discretion at any time
          following draw down of the first Tranche. The parties confirm that ICE
          Securities Limited will not charge any commission or other fee in
          relation to any such sale and that the proceeds of any such sale of
          the Sopheon Shares will be applied by the Borrower to the repayment of
          the Loan, together with all accrued Interest and Fees and Expenses);

     c.   Duly executed stock transfer forms (undated and with the name of the
          transferee in blank) together with the underlying certificates in
          relation to the Sopheon Shares and the Smartlogik Shares;

     d.   Guarantees from Smartlogik Holdings plc and Smartlogik (in the form
          previously agreed between us and initialled by both of us for the
          purpose of identification) guaranteeing all amounts due from the
          Borrower to the Lender under the terms of this Letter Agreement
          supported by a first fixed and floating charge (in the form previously
          agreed between us and initialled by both of us for the purpose of
          Identification) over all tangible and intangible assets of Smartlogik
          Holdings plc and Smartlogik respectively (including over any shares or
          other securities beneficially owned by either) or such other security
          as most closely approximates such a charge in the event that the
          assets in question are located outside the United Kingdom;

     e.   At the Borrowers option either (i) a Guarantee from Bright Station
          Ventures Ltd ("Ventures") (in the form previously agreed between us
          and initialled by both of us for the purpose of identification)
          guaranteeing all amounts due from the Borrower to the Lender under the
          terms of this Letter Agreement supported by a first charge (in the
          form previously agreed between us and initialled by both of us for the
          purpose of identification) in favour of the Lender over the 22,969
          shares in the capital of eFinancial News.com Limited a company
          registered in England under company number 3089347 with its registered
          office at Lynton House, 7-12 Tavistock Square, London owned by and
          registered in the name of the Bright Station Ventures Limited, a
          wholly owned subsidiary of the Borrower (the "eFN Shares"); or (ii) in
          the event that the eFN Shares are sold prior to the second Tranche
          being drawn down, deposit of the proceeds of such sale (which will not
          be less than the sum of (pound)68,000) into the Escrow Account (as
          defined below);

     f.   Duly executed stock transfer forms (undated and with the name of the
          transferee in blank) together with the underlying certificates in
          relation to the KMK Shares and the eFN Shares; and

     g.   An undertaking from all of the Representative Directors of KMK
          substantially in the form attached to this Letter Agreement as
          Schedule B.

The security provided for under paragraphs a, b, c and d, are collectively, the
"First Tranche Security" and the security provided for under paragraphs e, f and
g are collectively the "Second Tranche Security". The First Tranche Security and
Second Tranche Security are collectively the "Security".

                                      -4-
<PAGE>

                                  antfactory

The Borrower hereby irrevocably undertakes to sell the Sopheon Shares at the
Lenders sole direction and discretion at any time following draw down of the
first Tranche, provided always that the sale is at a fair and reasonable price.

Bright Station confirms that KMK has an amount equal to Japanese Yen
121,310,127.00 (equivalent to approximately (pound)690,990) in Chequing Account
Numbered 6711879 held in its name at the Mitsui Sumitomo Bank,
Shinjukufukutoshin branch in Japan (the "Japanese Account"), which amount is
free and clear of any encumbrance, subject only to the satisfaction of (i)
certain potential Japanese tax liabilities, which liabilities the Borrower
believes are not expected to be material and (ii) fees required to pay the
lawyers, accountants and liquidators of KMK and to meet the out-of-pocket
expenses of the directors thereof, the amount owing in connection with this
subparagraph (ii) are not expected to exceed the Japanese Yen equivalent of
(pound)30,000.

The parties agree that any amounts collected by the Borrower in relation to
trade debtors (the "Receivables"), apart from In relation to the specific
receivables listed on Schedule C to this Letter Agreement (the "Defined
Receivables") shall, at the option of the Borrower, be:

     a.   deposited in an escrow account maintained by Theodore Goddard,
          solicitors (the "Escrow Account") as cash collateral to further secure
          the Loan to be paid to the Borrower on repayment of all amounts owing
          pursuant to this Letter Agreement on the due date but otherwise to be
          paid by Theodore Goddard to the Lender on demand following the
          Repayment Date; or

     b.   applied by the Borrower to meet its working capital requirements, in
          which case the amount of the Facility which remains, from time to
          time, not draw down (the "Undrawn Amount") shall be reduced on a
          (pound)1 for (pound)1. basis,

provided always that where the amount collected exceeds the Undrawn Amount at
the time of its collection, the excess, up to a maximum of the Facility Amount,
shall be deposited in the Escrow Account.

Further, the parties agree that the Borrower may, with the prior written consent
of the Lender, not to be unreasonably withheld, sell or dispose of any of the
specific assets (excluding the Receivables) listed on Schedule D to this Letter
Agreement (the "Defined Assets") provided always that the Borrower uses its
reasonable endeavours to obtain the highest possible price for those assets
being sold or disposed of and the sale or disposal does not otherwise jeopardise
or materially prejudice the validity of the remaining First Tranche Security and
Second Tranche Security, if applicable. The proceeds derived from any such sale
or disposal shall be treated in accordance with the option set out in
subparagraphs a. and b. of the previous paragraph.

The Lender hereby gives its consent to the disposal of the Defined Assets free
from any Security and agrees to sign any confirmation of such which may
reasonably be required by a purchaser of the Defined Assets.

The parties agree that in the event that the sum in the Japanese Account can be
repatriated from Japan during the term of this Letter Agreement the Lender will
consent to a transfer of those funds; provided always that (i) the cost of the
repatriation does not materially diminish the aggregate sum to be transferred
and (ii) the funds so transferred are deposited in the Escrow Account.

                                      -5-
<PAGE>

                                  antfactory

On repayment of the Loan and all other monies due under this letter agreement in
full the Lender shall take all such steps as shall be necessary to release the
Security forthwith.

8.      Conditions Precedent to Draw down

Draw down of the first Tranche under the Facility will be conditional upon there
not having occurred an Event of Default and upon receipt by the Lender of the
following, unless receipt thereof of is waived In writing by the Lender:

     a.   Executed documents providing for the First Tranche Security;

     b.   Written confirmation from Theodore Goddard that it shall hold monies
          in the Escrow Account in accordance with this Letter Agreement;

     c.   Copies of executed placing letters confirming commitments to subscribe
          for, in the aggregate, 13.5 million gross pursuant to the Placing;

     d.   A copy of the shareholder's circular prepared in connection with the
          EGM dated and posted 13 June 2001 (the "Shareholders Circular")
          containing details of the Placing and a working capital statement in
          accordance with Rule 6.E.16 of the Listing Rules which is unqualified
          except as to admission for listing on the London Stock Exchange;

     e.   Written confirmation from the Borrower that it is not aware of any
          reason why the conditions of the Placing, as set out in the Hoare
          Govett Limited placing letters dated on or about 29 May 2001 (the
          "Placing Letters"), will not be met, the Borrower having first
          received confirmation of the same from Hoare Govett Limited; and

     f.   Copies of all statutory demands, winding up petitions and all similar
          documents received by the Borrower or Smartlogik from its or their
          creditors in relation to outstanding and unpaid obligations owing by
          the Borrower or Smartlogik.

Draw down of the second and third Tranches under the Facility will be
conditional upon (I) there not having occurred an Event of Default, (ii) receipt
by the Lender of the written confirmation referred to in subparagraph e. above,
unless receipt thereof of is waived in writing by the Lender, (iii) there being
no amounts outstanding to af Partners Limited or the Lender other than the Loan,
and (iv) in the case of the second Tranche only, upon receipt by the Lender of
the executed documents providing for the Second Tranche Security (or, in the
case of the eFN Shares, at the option of the Borrower, the deposit into the
Escrow Account of the proceeds of the sale of those shares, as elected by the
Borrower under subparagraph e. of clause 7 above), unless receipt thereof of
such executed documents or the deposit of such funds is waived in writing by the
Lender.

                                      -6-
<PAGE>

                                  antfactory

9.      No Set Off

All payments by the Borrower under the terms of this Letter Agreement are to be
made in full, without set off or counterclaim, deduction or withholding of any
nature, including for any present or future taxes. If the Borrower is compelled
by law to make any deductions or withholdings the Borrower will pay additional
amounts to ensure receipt by the Lender of the amount which the Lender would
have received but for such deduction or withholding.

10.     Representations and Warranties

The Borrower represents and warrants to the Lender on the date of acceptance of
this Letter Agreement and on each subsequent date until full repayment of the
Loan, together with all accrued Interest and Fees and Expenses, is made, that:

     a.   The Borrower is a corporation validly existing under the laws of
          England with the requisite power and authority to enter into and
          perform, and has taken all necessary corporate action to authorise the
          execution and performance of, its obligations under this Letter
          Agreement, including the draw down of all or any part of the full
          amount available under the Facility on the terms set out in this
          Letter Agreement, and the other documents to be entered into by it in
          connection with the Loan, Including any documents relating to the
          Security;

     b.   This Letter Agreement and any documents relating to the Security will,
          when executed, constitute valid and binding obligations of the
          Borrower and are not subject to any consent, approval or authorization
          of, or filing, registration or qualification with, any court,
          governmental or regulatory authority or third party which has not
          already been duly and validly obtained;

     c.   The execution, delivery and performance of this Letter Agreement and
          the other documents to be entered into by the Borrower in connection
          with the Loan do not and will not result in a breach of any of the
          terms, conditions or provisions of, or constitute a default under, any
          indenture, mortgage, credit agreement, note or other evidence of
          indebtedness, or any lease or other agreement, or any license, permit,
          franchise or certificate to which the Borrower or any of its
          subsidiaries is a party or by which it is or they are bound or to
          which any of its or their properties are subject, or require any
          authorization or approval under or pursuant to any of the foregoing,
          violate the organizational documents of the Borrower, or violate in
          any material respect any statute, regulation, law, order, writ,
          injunction or decree to which the Borrower is subject;

     d.   Each of the Borrower and its subsidiaries is entitled to own its
          assets and to do business wherever it currently operates and to carry
          on its current business or any proposed businesses or operations;

     e.   The Borrower or a company in its group is the legal and beneficial
          owner of the Sopheon Shares, the Smartlogik Shares, the KMK Shares and
          the eFN Shares free from any mortgage, pledge, lien, debenture or
          other legal or equitable encumbrance whatsoever;

     f.   Any person providing security in relation to the Loan is legally
          empowered to give the security referred to in this Letter Agreement
          and once given such security will constitute a valid and binding
          obligation of such person;

                                      -7-
<PAGE>

                                  antfactory

     g.   The assets proposed to be made subject to the Security are free from
          any mortgage, pledge, lien (other than any lien arising in the
          ordinary course of business), debenture or other legal or equitable
          encumbrance whatsoever;

     h.   Other than as disclosed in the Shareholders Circular, the Borrower is
          not currently a defendant in any litigation, arbitration, claim or
          administrative proceeding, and is not aware of any pending litigation,
          arbitration, claim or administrative proceeding, which could have a
          material adverse effect on the business or financial position of the
          Borrower or its subsidiaries;

     i.   KMK has only three directors and no money can be withdrawn or
          otherwise transferred out of the Japanese Account without the
          signature of a Representative Director, as distinct from an "ordinary"
          director;

     j.   Once published, the Shareholder's Circular will comply with the
          requirements of the Financial Services Act 1986 and the Listing Rules
          of the UK Listing Authority;

     k.   The Borrower has provided the Lender with copies of all statutory
          demands, winding up petitions and all similar documents received by
          the Borrower or Smartlogik from its or their creditors in relation to
          outstanding and unpaid obligations currently owing by the Borrower or
          Smartlogik;

     l.   The Borrower has not failed to disclose any information which would
          reasonably be expected to have a material impact upon the decision of
          a lender to provide a facility to a borrower; and

     m.   There has been no Event of Default.

The Lender hereby acknowledges the existence of (i) the charge created under a
Rent Deposit Deed on 20 July 2000 and registered at Companies House on 4 August
2000 over the deposit of (pound)75,600 in an interest bearing deposit account
under the terms of a lease over the premises known as West Wing, Latour House,
Chertsey Boulevard, Hanworth Lane, Chertsey, Surrey and (ii) the Charge over
Deposit created on 17 August 2000 and registered on 25 August 2000 in favour of
the Royal Bank of Scotland over an initial deposit of (pound)5 million credited
to Account No. 10066983 with that bank to secure all monies due or to become due
from the Borrower to that bank and nothing shall be deemed to be a breach of
this Letter Agreement by virtue of their existence.

The Borrower undertakes that immediately upon receipt thereof it will deliver to
the Lender copies of all statutory demands, winding up petitions and all similar
documents received after the date of this Letter Agreement by the Borrower or
Smartlogik from its or their creditors in relation to outstanding and unpaid
obligations currently owing by the Borrower and Smartlogik and will keep the
Lender informed of any settlement arrangements or other agreements offered or
agreed in connection therewith the such creditors.

The Borrower undertakes to permit the Lender at all reasonable times after the
draw down of the first Tranche until repayment of all amounts due and payable
under this Letter Agreement to have access to and to inspect its books and
records and those of its subsidiaries.

                                      -8-
<PAGE>

                                  antfactory

11.  Events of Default

In the event of:

     a.   failure by the Borrower to pay any monies under this Letter Agreement
          within one business day of the due date or the date of demand by the
          Lender, as the case may be; or

     b.   any breach by the Borrower of the conditions of draw down, any
          documents relating to the Security or any of the Borrowers obligation
          under this Letter Agreement, including any breach of the
          representations and warranties contained in Clause 10; or

     c.   an administration order is made in relation to the Borrower,
          Smartlogik Holdings, Smartlogik and Ventures or an administrator is
          appointed over or a receiver or manager or administrative receiver is
          appointed over the Borrower, Smartlogik Holdings, Smartlogik and
          Ventures or any of its of their respective assets or undertaking or
          the Borrower, Smartlogik Holdings, Smartlogik and Ventures enters into
          liquidation; or

     d.   there occurs in relation to any of the Borrower, Smartlogik Holdings,
          Smartlogik or Ventures in any country or territory in which it carries
          on business or, to the jurisdiction of whose courts any part of its
          assets is subject, any event which in the opinion of the Lender
          appears in that country or territory to correspond with or have an
          effect equivalent or similar to any of those mentioned in this
          paragraph d. and paragraph c. above; or

     e.   any order being made or resolution passed In respect of the Borrower,
          Smartiogik Holdings, Smartlogik or Ventures for its or their winding
          up or dissolution or for it or them to enter into any arrangement or
          composition for the benefit of creditors; or

     f.   either the Borrower or Srnartlogik disposing of a material part of its
          undertaking or assets (other than in the ordinary course of trading)
          without the prior written agreement of the Lender excluding the
          Receivables and the Defined Assets; or

     g.   failure by the Borrower to complete the Placing by 13 July 2001 or the
          issue of any announcement by the Borrower announcing such a failure or
          any intention not to complete the Placing by that date, or

     h.   resignation of any executive director of Smartlogik; or

     i.   any of the Borrower, Smartlogik Holdings, Smartlogik or Ventures is
          insolvent or deemed unable to pay its debts within meaning of Section
          123(1)(e) Insolvency Act 1986; or

     j.   any part of the Security fails or ceases in any respect to have full
          force and effect or to be continuing or is disputed or challenged or
          becomes in jeopardy, invalid or unenforceable,

(each such event constituting a separate "Event of Default") then the Lender's
commitment to maintain the Facility shall cease and the whole of the outstanding
Loan, all accrued Interest and unpaid Fees and Expenses shall be deemed to have

                                      -9-
<PAGE>

                                  antfactory

become due and become immediately payable by the Borrower upon demand in writing
by the Lender.

12.  Covenants

By accepting the Loan, the Borrower undertakes that, other than as expressly
agreed in writing by the Lender:

     a.   the Borrower's obligations under the Loan shall always rank ahead of
          all other present and future unsecured obligations of the Borrower
          other than as prescribed by law;

     b.   not encumber, by means of any mortgage, pledge, lien (other than liens
          arising in the ordinary course of business), debenture or other legal
          or equitable encumbrance, any of the assets which are subject to the
          Security; and

     c.   the Borrower will inform the Lender of the occurrence of any Event of
          Default.

13.  Indemnities

The Borrower shall indemnify the Lender on demand on a full indemnity basis for:

     a.   all reasonable valuation and legal fees and other expenses (including
          VAT) incurred by the Lender in connection with the enforcement or
          preservation by the Lender of its rights under this Letter Agreement
          or any Security; and

     b.   any loss, damage, liability or reasonable expense incurred by the
          Lender as a consequence of making any demand for repayment or as a
          consequence of non-performance by the Borrower of any obligation under
          this Letter Agreement or as a result of the Borrower failing to comply
          with any applicable law relating to the Borrower, its business and its
          assets.

Any monies not paid following a demand under this Clause shall bear interest at
the Default Rate.

14.  Assignment

The Lender may assign and/or transfer all or any of its rights, benefits and/or
obligations in respect of this Letter Agreement, the Facility, the Loan or the
Security referred to herein to a company forming a member of the Lender's group
for so long only as such company remains a member of the Lender's group. The
Lender may disclose to a potential assignee or transferee any information it may
have about the Facility, the Loan and any Security. The Borrower may not assign
or transfer any of its rights or obligations under this Letter Agreement.

15.  Notices

Every notice, request or other communication shall:

     a.   be in writing, delivered personally or by prepaid first class letter
          or facsimile transmission;

                                       10
<PAGE>

                                  antfactory

     b.   be deemed to have been received, in the case of a letter delivered
          personally when delivered personally, in the case of a letter
          delivered by prepaid first class post within 48 hours after it has
          been sent or, in the case of facsimile transmission, at the time of
          transmission with a facsimile transmission report or other appropriate
          evidence; and

     c.   be sent (1) to the Borrower at Bright Station plc, The Communications
          Building, 48 Leicester Square, London WC2H 7DB, fax: 7925 7700, for
          the attention of Robert Lomnitz and (ii) to the Lender at the address
          and fax number listed in the letterhead, for the attention of GP de
          Geode, with a copy by fax to Andrew Noble at af Partners Limited in
          London on 7626 3265.

16.  Waiver

No delay or omission on the part of the Lender in exercising any of its rights,
powers or privileges under this Letter Agreement shall operate as a waiver
thereof nor shall any single or partial exercise of any right, power or
privilege preclude any other or further exercise thereof or the exercise of any
other power or privilege.

17.  Applicable Law

This letter shall be governed by and construed and take effect in accordance
with English Law.

18.  Survival

The provisions of Clauses 4-6, inclusive, 9, 10, 13, 15, 17 and this Clause 18
shall survive the termination of this Letter Agreement.

19.  Acceptance

Acceptance of the terms of this Letter Agreement shall be signified by the
Borrower providing to the Lender with all of the following:

     a.   The enclosed duplicate of this Letter Agreement signed for and on
          behalf of the Borrower;

     b.   A certified copy of a resolution from the Borrower's Board of
          Directors

          i)   Accepting the terms and conditions of this Letter Agreement and
               approving the execution by the Borrower of the documents relating
               to the Security;
          ii)  Authorising a specified person, or persons, to execute and return
               the duplicate of this Letter Agreement and the documents relating
               to the Security; and

             [THE REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK]

                                       11
<PAGE>

                                  antfactory

          iii)  Authorising the Lender to accept instructions and confirmations
                in connection with the Loan from a specified person, or persons.

Yours Faithfully,

/s/ Robert Gogel
-------------------------
Robert Gogel, Director

The terms and conditions of this Letter Agreement are accepted on behalf of
Bright Station by the person duly authorised pursuant to a resolution of its
Board of Directors, a copy of which is attached.

Dated this 12th day of June, 2001.
           ----

Bright Station PLC

/s/ Robert Lomnitz
-------------------------
Name:  R. Lomnitz
Title: Director

                                     -12-

<PAGE>

                                  Schedule A

                                    [LOGO]
                                brightstation.
                         technology born for business

12 June 2001

ICE Securities Limited
Sherbourne House
119 Canon Street
London
EC2

Dear Sirs

RE: PROPOSED SALE OF OUR SHARES IN SOPHEON PLC

We hereby irrevocably appoint you our exclusive agent for the proposed sale of
the 429 127 ordinary shares in the capital of Sopheon plc owned by us, as
referred to in the Letter Agreement dated 12 June 2001 between Bright Station
plc and antfactory Investments BV.

This sale will be at the sole direction and discretion of antfactory Investments
BV, provided always that such sale is at a fair and reasonable price.

Yours sincerely

/s/ Robert Lomnitz
---------------------------
for and on behalf of
Bright Station plc
<PAGE>

                                  antfactory

SCHEDULE B - Form of undertaking from Directors of KMK DigiTex Co Ltd

                                  UNDERTAKING

To: antfactory Investments BV

In consideration of antfactory Investments BV providing a facility under a
letter dated [     ] June 2001, I, [          ], a Representative Director of
KMK DigiTex Co Ltd hereby undertake that I will not without the prior written
consent of Antfactory Investments BV, permit or otherwise authorise the
withdrawal of funds from any bank account of KMK DigiTex Co Ltd other than (i)
as required by law by the Japanese tax or other government authorities or (ii)
to pay the lawyers, accountants and liquidators of KMK DigiTex Co Ltd and to
meet the out-or-pocket expenses of the directors thereof provided always that
the amount that can be withdrawn or transferred in connection with this
subparagraph (ii) shall not to exceed the Japanese yen equivalent of
(pound)30,000.

Signed:
       -----------------------

Dated:
      ------------------------

                                      14
<PAGE>

                                  antfactory

SCHEDULE C - The Defined Receivables

<TABLE>
<CAPTION>
-------------------------------------------------------------------
Third Party Debtor                              Amount
-------------------------------------------------------------------
<S>                                             <C>
BBC                                             (pound)70,445.56
-------------------------------------------------------------------
Bioportfolio Limited                            (pound)3,525.00
-------------------------------------------------------------------
BT trading as Yellow Pages/Yell.com             (pound)22,325.00
-------------------------------------------------------------------
BAA                                             (pound)23,129.88
-------------------------------------------------------------------
BBC                                             (pound)70,445.56
-------------------------------------------------------------------
BT trading as Yellow Pages/Yell.com             (pound)4,112.50
-------------------------------------------------------------------
Derwent                                         (pound)6,634.67
-------------------------------------------------------------------
DHL Systems Limited                             (pound)5,228.75
-------------------------------------------------------------------
Virgin.com Limited                              (pound)32,729.00
-------------------------------------------------------------------
</TABLE>

                                     -15-
<PAGE>

                                  antfactory

SCHEDULE D -- The Defined Assets

Sopheon Shares

eFN Shares

Computer hardware originally purchased from Boo.com Limited as listed below --

--------------------------------------------------------------------------------
Item                                                                    Quantity
--------------------------------------------------------------------------------
E250-each with 2x300Mhz processor, 512MB RAM                            2
--------------------------------------------------------------------------------
E250-each with 2x400Mhz processors, 1GB RAM                             1
--------------------------------------------------------------------------------
L280 (Tape drive)                                                       1
--------------------------------------------------------------------------------
E450-each with 3x400Mhz processors, 1GB RAM                             2
--------------------------------------------------------------------------------
Bundle Pack
--------------------------------------------------------------------------------
E4500-each with 10x400Mhz processors, 2.5GB RAM                         7
--------------------------------------------------------------------------------
E4500-each with 2x400Mhz processors, 4GB RAM                            1
--------------------------------------------------------------------------------
E450-each with 2x400Mhz processors, 1GB RAM                             1
--------------------------------------------------------------------------------
E250-each with 1x400Mhz processors, 256MB RAM                           1
--------------------------------------------------------------------------------
E250-each with 2x400Mhz processors, 256MB RAM                           1
--------------------------------------------------------------------------------
D1000 (disk storage device)                                             1
--------------------------------------------------------------------------------
A1000 (disk storage device)                                             4
--------------------------------------------------------------------------------
L1000 (tape backup library DLT 3 drive)                                 1
--------------------------------------------------------------------------------
L280 (tape drive)                                                       1
--------------------------------------------------------------------------------

                                     -16-

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