Document:

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                                                                   EXHIBIT 10.73

                  EXCHANGE AND REGISTRATION RIGHTS AGREEMENT

     EXCHANGE AND REGISTRATION RIGHTS AGREEMENT, dated as of December 1, 1999,
among Exodus Communications, Inc., a Delaware corporation (the "Company"),
Goldman, Sachs & Co., Donaldson, Lufkin & Jenrette Securities Corporation,
BancBoston Robertson Stephens Inc., PaineWebber Incorporated and Morgan Stanley
& Co. Incorporated (each an "Initial Purchaser" and, collectively, the "Initial
Purchasers") each of whom has agreed to purchase the Company's $375,000,000
principal amount of 10 3/4% Senior Notes due 2009 (the "Dollar Securities") and
Euro 125,000,000 principal amount of 10 3/4% Senior Notes due 2009 (the "Euro
Securities" and together with the Dollar Securities, the "Securities") pursuant
to the Purchase Agreement, dated December 2, 1999, by and among the Company and
Initial Purchasers (the "Purchase Agreement").

     The Company proposes to issue and sell and the Initial Purchasers propose
to purchase the Securities upon the terms set forth in the Purchase Agreement.
As an inducement to the Initial Purchasers to enter into the Purchase Agreement
and in satisfaction of a condition to the obligations of the Initial Purchasers
thereunder, the Company agrees with the Initial Purchasers for the benefit of
holders (as defined herein) from time to time of the Transfer Restricted
Securities as follows:

     1.  Certain Definitions.

     For purposes of this Exchange and Registration Rights Agreement, the
following terms shall have the following respective meanings:

          "Act" shall mean the Securities Act of 1933, as amended.

          "Affiliate" shall have the meaning ascribed thereto by Rule 144 of the
     Act.

          "Business Days" shall mean each Monday, Tuesday, Wednesday, Thursday
     and Friday which is not a day on which banking institutions in the City of
     New York, New York are authorized or obligated by law or executive order to
     close.

          "Broker-Dealer" shall mean any broker or dealer registered with the
     Commission under the Exchange Act.

          "Closing Date" shall mean December 8, 1999.

          "Commission" shall mean the United States Securities and Exchange
     Commission, or any other federal agency at the time administering the
     Exchange Act or the Securities Act, whichever is the relevant statute for
     the particular purpose.

          "Effective Time" shall mean (i) with regard to the Exchange
     Registration, the time and date as of which the Commission declares the
     Exchange Offer Registration Statement
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     effective or as of which the Exchange Offer Registration Statement
     otherwise becomes effective and (ii) with regard to the Shelf Registration,
     the time and date as of which the Commission declares the Shelf
     Registration Statement effective or as of which the Shelf Registration
     Statement otherwise becomes effective.

          "Electing Holder" shall mean any holder of Transfer Restricted
     Securities that has returned a completed and signed Notice and
     Questionnaire to the Company in accordance with Section 3(d)(ii) or
     3(d)(iii) hereof.

          "Exchange Act" shall mean the Securities Exchange Act of 1934, or any
     successor thereto, as the same shall be amended from time to time.

          "Exchange Offer" shall have the meaning assigned thereto in Section
     2(a) hereof.

          "Exchange Offer Registration Statement" shall have the meaning
     assigned thereto in Section 2(a) hereof.

          "Exchange Registration" shall have the meaning assigned thereto in
     Section 3(c) hereof.

          "Exchange Securities" shall have the meaning assigned thereto in
     Section 2(a) hereof.

          "holder" shall mean with respect to the Transfer Restricted
     Securities, each of the Initial Purchasers and other persons who acquire
     Transfer Restricted Securities from time to time (including any successors
     or assigns), in each case for so long as such person owns any Transfer
     Restricted Securities.

          "Indenture" shall mean the Indenture, dated as of December  1, 1999,
     between the Company and Chase Manhattan Bank and Trust Company, National
     Association, as Trustee, as the same shall be amended from time to time.

          "Liquidated Damages" shall have the meaning assigned thereto in
     Section 2(c) hereof.

          "Notice and Questionnaire" means a Notice of Registration Statement
     and Selling Securityholder Questionnaire substantially in the form of
     Exhibit A hereto.
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          "person" shall mean a corporation, association, partnership,
     organization, business, individual, government or political subdivision
     thereof or governmental agency.

          "Press Release" shall have the meaning given thereto in the Indenture.

          "Prospectus" shall have the meaning ascribed to it in Section 2(a)(10)
     of the Act.

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          "Registration Default" shall have the meaning assigned thereto in
     Section 2(c) hereof.

          "Registration Expenses" shall have the meaning assigned thereto in
     Section 4 hereof.

          "Resale Period" shall have the meaning assigned thereto in Section
     2(a) hereof.

          "Restricted Holder" shall mean (i) a holder that is an affiliate of
     the Company within the meaning of Rule 405, (ii) a holder who acquires
     Exchange Securities outside the ordinary course of such holder's business,
     (iii) a holder who has arrangements or understandings with any person to
     participate in the Exchange Offer for the purpose of a distribution within
     the meaning of the Act of Exchange Securities and (iv) a holder that is a
     Broker-Dealer, but only with respect to Exchange Securities received by
     such Broker-Dealer pursuant to an Exchange Offer in exchange for Transfer
     Restricted Securities acquired by the Broker-Dealer directly from the
     Company.

          "Rule 144," "Rule 405" and "Rule 415" shall mean, in each case, such
     rule promulgated under the Act (or any successor provision), as the same
     shall be amended from time to time.

          "Securities" shall mean, collectively, the 10 3/4% Senior Notes due
     2009 of the Company to be issued and sold to the Initial Purchasers, and
     securities issued in exchange therefor or in lieu thereof pursuant to the
     Indenture.

          "Shelf Registration" shall have the meaning assigned thereto in
     Section 2(b) hereof.

          "Shelf Registration Statement" shall have the meaning assigned thereto
     in Section 2(b) hereof.

          "Transfer Restricted Securities" shall mean each Security until the
     earliest of (i) the date on which such Security has been exchanged by a
     person other than a Broker-Dealer for an Exchange Security in an Exchange
     Offer, (ii) following the exchange by a Broker-Dealer in the Exchange Offer
     of a Security for an Exchange Security, the date on which such Exchange
     Security is sold to a purchaser who receives from such Broker-Dealer on or
     prior to the date of such sale a copy of the Prospectus used in connection
     with such Exchange Offer, (iii) the date on which such Security has been
     effectively registered under the Act and disposed of in accordance with a
     Shelf Registration Statement or (iv) the date on which such Security is
     distributed to the public pursuant to Rule 144 under the Act.

          "Trust Indenture Act" shall mean the Trust Indenture Act of 1939, or
     any successor thereto, and the rules, regulations and forms promulgated
     thereunder, all as the same shall be amended from time to time.

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     Unless the context otherwise requires, any reference herein to a "Section"
or "clause" refers to a Section or clause, as the case may be, of this Exchange
and Registration Rights Agreement, and the words "herein," "hereof" and
"hereunder" and other words of similar import refer to this Exchange and
Registration Rights Agreement as a whole and not to any particular Section or
other subdivision.

     2.  Registration Under the Securities Act.

     (a) Except as set forth in Section 2(b) below, the Company agrees to file
with the Commission, as soon as practicable after the Closing Date, but no later
than 60 days after the Closing Date, a registration statement relating to an
offer to exchange (such registration statement, the "Exchange Offer Registration
Statement", and such offer, the "Exchange Offer") any and all of the Securities
for a like aggregate principal amount of debt securities issued by the Company,
which debt securities are substantially identical to the Securities (and are
entitled to the benefits of a trust indenture which is substantially identical
to the Indenture or is the Indenture and which has been qualified under the
Trust Indenture Act), except that they have been registered pursuant to an
effective registration statement under the Act and do not contain provisions for
liquidated damages contemplated in Section 2(c) below (such new debt securities
hereinafter called "Exchange Securities").  The Company agrees to use its best
efforts to cause the Exchange Offer Registration Statement to become effective
under the Act as soon as practicable, but no later than 150 days after the
Closing Date.  The Exchange Offer will be registered under the Act on the
appropriate form and will comply with all applicable tender offer rules and
regulations under the Exchange Act.  Unless the Exchange Offer would not be
permitted by applicable law or Commission policy, the Company further agrees to
use its best efforts (i) to complete the Exchange Offer promptly, but no later
than 30 Business Days after the Exchange Offer Registration Statement becomes
effective or is declared effective by the Commission, (ii) to hold the Exchange
Offer open for a period of not less than the minimum period required under
applicable federal and state securities laws, provided however, that in no event
shall such period be less than 20 Business Days after the mailing of notice to
holders of such Exchange Offer Registration Statement being declared effective,
and (iii) to issue Exchange Securities for all Transfer Restricted Securities
that have been properly tendered and not withdrawn on or prior to the expiration
of the Exchange Offer.  The Exchange Offer will be deemed to have been
"completed" only if the debt securities received by holders other than
Restricted Holders in the Exchange Offer for Transfer Restricted Securities are,
upon receipt, transferable by each such holder without need for further
compliance with Section 5 of the Act and the Exchange Act (except for the
requirement to deliver a Prospectus included in the Exchange Offer Registration
Statement applicable to resales by Broker-Dealers of Exchange Securities
received by such Broker-Dealer pursuant to an Exchange Offer in exchange for
Transfer Restricted Securities other than those acquired by the Broker-Dealer
directly from the Company), and without material restrictions under the blue sky
or securities laws of a substantial majority of the States of the United States
of America.  The Exchange Offer shall be deemed to have been completed upon the
earlier to occur of (i) the Company having exchanged the Exchange Securities for
all outstanding Transfer Restricted Securities pursuant to the Exchange Offer
and (ii) the Company having exchanged, pursuant to the Exchange Offer, Exchange
Securities for all Transfer Restricted Securities that have been properly
tendered and not withdrawn before the expiration of the Exchange Offer.  If the
Company is notified prior to the completion of the Exchange Offer by a Broker-
Dealer that is a holder of Transfer

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Restricted Securities (other than Transfer Restricted Securities received by the
Broker-Dealer directly from the Company), then the Company agrees (x) to include
in the Exchange Offer Registration Statement a Prospectus for use in connection
with any resales of Exchange Securities by a Broker-Dealer, other than resales
of Exchange Securities received by a Broker-Dealer pursuant to an Exchange Offer
in exchange for Transfer Restricted Securities acquired by the Broker-Dealer
directly from the Company, and (y) to keep such Exchange Offer Registration
Statement effective for a period (the "Resale Period") beginning when Exchange
Securities are first issued in the Exchange Offer and ending upon the earlier of
the expiration of the 180th day after the Exchange Offer has been completed or
such time as such Broker-Dealers no longer own any Transfer Restricted
Securities. With respect to such Exchange Offer Registration Statement, each
Broker-Dealer that holds Exchange Securities received in an Exchange Offer in
exchange for Transfer Restricted Securities not acquired by it directly from the
Company shall have the benefit of the rights of indemnification and contribution
set forth in Sections 6(a), (c), (d) and (e) hereof.

     (b) If (i) the Company is not permitted to consummate the Exchange Offer
because the Exchange Offer is not permitted by applicable law or Commission
policy or (ii) any holder of Transfer Restricted Securities notifies the Company
prior to the 20th day following completion of the Exchange Offer that (A) it is
prohibited by law or Commission policy from participating in the Exchange Offer
or (B) that it may not resell in compliance with the Act or Commission policy
the Exchange Securities acquired by it in the Exchange Offer to the public
without delivering a Prospectus and the Prospectus contained in the Exchange
Offer Registration Statement is not appropriate or available for such resales or
(C) that it is a Broker-Dealer and owns Securities acquired directly from the
Company or an Affiliate, then in lieu of conducting the Exchange Offer for such
Transfer Restricted Securities contemplated by Section 2(a) the Company shall
use its best efforts to file with the Commission as soon as practicable, but no
later than 45 days after the date on which the Company determines that it is not
permitted to file the Exchange Offer Registration Statement pursuant to clause
(i) above or 45 days after the date on which the Company receives the notice
specified in clause (ii) above (but in either case, in no event less than 60
days after the Closing Date), a "shelf" registration statement providing for the
registration of, and the sale on a continuous or delayed basis by the holders
of, all of the Transfer Restricted Securities, pursuant to Rule 415 or any
similar rule that may be adopted by the Commission, which may be an amendment to
the Exchange Offer Registration Statement (such filing, the "Shelf Registration"
and such registration statement, the "Shelf Registration Statement").  The
Company agrees to use its best efforts (i) to cause the Shelf Registration
Statement to become or be declared effective by the Commission on or prior to 90
days after such obligation arises (but in no event less than 150 days after the
Closing Date) and to keep such Shelf Registration Statement continuously
effective in order to permit the Prospectus forming a part thereof to be usable
by holders for resales of Transfer Restricted Securities for a period ending on
the earlier of the second anniversary of the Effective Time or such time as
there are no longer any Transfer Restricted Securities outstanding, provided,
however, that no holder shall be entitled to be named as a selling
securityholder in the Shelf Registration Statement or to use the Prospectus
forming a part thereof for resales of Transfer Restricted Securities unless such
holder is an Electing Holder, and (ii) after the Effective Time of the Shelf
Registration Statement, promptly upon the request of any holder of Transfer
Restricted Securities that is not then an Electing Holder, to take any action
reasonably necessary to enable such holder to use the Prospectus forming a part

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thereof for resales of Transfer Restricted Securities, including, without
limitation, any action necessary to identify such holder as a selling
securityholder in the Shelf Registration Statement, provided, however, that
nothing in this Clause (ii) shall relieve any such holder of the obligation to
return a completed and signed Notice and Questionnaire to the Company in
accordance with Section 3(d)(iii) hereof.  No holder of Securities shall be
entitled to Liquidated Damages pursuant to 2(c) hereof unless and until such
holder shall have provided all such information.  The Company further agrees to
supplement or make amendments to the Shelf Registration Statement, as and when
required by the rules, regulations or instructions applicable to the
registration form used by the Company for such Shelf Registration Statement or
by the Act or rules and regulations thereunder for shelf registration, and the
Company agrees to furnish to each Electing Holder copies of any such supplement
or amendment prior to its being used or promptly following its filing with the
Commission.

     (c) In the event that (i) the Company has not filed the Exchange Offer
Registration Statement or Shelf Registration Statement on or before the date on
which such registration statement is required to be filed pursuant to Section
2(a) or 2(b), respectively, or (ii) such Exchange Offer Registration Statement
or Shelf Registration Statement has not become effective or been declared
effective by the Commission on or before the date on which such registration
statement is required to become or be declared effective pursuant to Section
2(a) or 2(b), respectively, or (iii) the Exchange Offer has not been completed
within 30 Business Days after the initial effective date of the Exchange Offer
Registration Statement relating to the Exchange Offer (if the Exchange Offer is
then required to be made) or (iv) any Exchange Offer Registration Statement or
Shelf Registration Statement required by Section 2(a) or 2(b) hereof is filed
and declared effective, but shall thereafter cease to be effective or usable in
connection with resales of Transfer Restricted Securities during the periods
specified in Section 2(a) or 2(b), respectively, (except as specifically
permitted herein, including pursuant to Sections 3(c)(ii) and (iv) and 3(d)(iv)
and 3(e)) without being succeeded immediately by an additional registration
statement filed and declared effective (each such event referred to in clauses
(i) through (iv), a "Registration Default" and each period during which a
Registration Default has occurred and is continuing, a "Registration Default
Period"), then, the Company will pay liquidated damages to each holder of
Transfer Restricted Securities affected thereby (such liquidated damages, the
"Liquidated Damages"), with respect to the first 90-day period immediately
following the occurrence of the first Registration Default in an amount equal to
$0.05 per week such Registration Default continues per $1,000 principal amount
of Transfer Restricted Securities held by such holder.  The amount of the
Liquidated Damages will increase by an additional $0.05 per week such
Registration Default continues per $1,000 principal amount of Transfer
Restricted Securities with respect to each subsequent 90-day period until all
Registration Defaults have been cured, up to a maximum amount of Liquidated
Damages for all Registration Defaults of $0.25 per week per $1,000 principal
amount of Transfer Restricted Securities.  Notwithstanding the foregoing, the
Company shall in no event be required to pay Liquidated Damages for more than
one Registration Default at any time.  All accrued Liquidated Damages will be
paid by the Company on each Interest Payment Date (as defined in the Indenture)
to each holder of any Transfer Restricted Securities by wire transfer of
immediately available funds or by federal funds check and to holders of Transfer
Restricted Securities by wire transfer to the accounts specified by them or by
mailing checks to their registered addresses if no such accounts have been

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specified. Following the cure of all Registration Defaults, the accrual of
Liquidated Damages will cease. No other damages shall be available to holders of
Transfer Restricted Securities for any Registration Default.

     (d) Any reference herein to a registration statement as of any time shall
be deemed to include any document incorporated, or deemed to be incorporated,
therein by reference as of such time and any reference herein to any post-
effective amendment to a registration statement as of any time shall be deemed
to include any document incorporated, or deemed to be incorporated, therein by
reference as of such time.

     3.  Registration Procedures.

     If the Company files a registration statement pursuant to Section 2(a) or
Section 2(b), the following provisions shall apply:

     (a) At or before the Effective Time of the Exchange Offer or the Shelf
Registration, as the case may be, the Company shall qualify the Indenture under
the Trust Indenture Act of 1939.

     (b) In the event that such qualification would require the appointment of a
new trustee under the Indenture, the Company shall appoint a new trustee
thereunder pursuant to the applicable provisions of the Indenture.

     (c) In connection with the Company's obligations with respect to the
registration of Exchange Securities as contemplated by Section 2(a) (the
"Exchange Registration"), if applicable, the Company shall, as soon as
practicable (or as otherwise specified):

          (i) prepare and file with the Commission, as soon as practicable but
     no later than 60 days after the Closing Date, an Exchange Offer
     Registration Statement on any form which may be utilized by the Company and
     which shall permit the Exchange Offer and, if applicable, resales of
     Exchange Securities by Broker-Dealers during the Resale Period to be
     effected as contemplated by Section 2(a), and use its best efforts to cause
     such Exchange Offer Registration Statement to become effective as soon as
     practicable thereafter, but no later than 150 days after the Closing Date;

          (ii) as soon as practicable prepare and file with the Commission such
     amendments and supplements to such Exchange Offer Registration Statement
     and the Prospectus included therein as may be necessary to effect and
     maintain the effectiveness of such Exchange Offer Registration Statement
     for the periods and purposes contemplated in Section 2(a) hereof and as may
     be required by the applicable rules and regulations of the Commission and
     the instructions applicable to the form of such Exchange Offer Registration
     Statement, and promptly provide each Broker-Dealer holding Exchange
     Securities with such number of copies of the Prospectus included therein
     (as then amended or supplemented), in conformity in all material respects
     with the requirements of the Act and the Trust Indenture Act and the rules
     and regulations of the Commission thereunder, as such Broker-Dealer
     reasonably may

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     request prior to the expiration of the Resale Period, for use in connection
     with resales of Exchange Securities; provided that upon the occurrence of
     any event that would cause any such Exchange Offer Registration Statement
     or the Prospectus contained therein (A) to contain a material misstatement
     or omission or (B) not to be effective and usable for resale of Transfer
     Restricted Securities, either of which occurs during the period that the
     Company is required to maintain an effective and usable Exchange Offer
     Registration Statement and Prospectus pursuant to this Agreement, the
     Company shall file promptly an appropriate amendment or supplement to such
     Registration Statement or Prospectus, (1) in the case of clause (A),
     correcting any such misstatement or omission, and (2) in the case of
     clauses (A) and (B) use its best efforts to cause any amendment to be
     declared effective and such Exchange Offer Registration Statement and the
     Prospectus to become usable for their intended purpose(s) as soon as
     practicable thereafter; provided further notwithstanding anything to the
     contrary set forth in this Agreement, during the 180 day period following
     completion of the Exchange Offer, the Company's obligations to use its best
     efforts to keep the Exchange-Offer Registration Statement continuously
     effective, supplemented and amended shall be suspended in the event
     continued effectiveness of the Exchange-Offer Registration Statement would,
     with the advice of counsel to the Company, make it advisable for the
     Company to disclose a material financing, acquisition or other corporate
     transaction, and the Board of Directors shall have determined in good faith
     that such disclosure is not in the best interests of the Company, but in no
     event will any such suspension, individually or in the aggregate, exceed
     sixty (60) days (such suspensions being referred to herein as an "Exchange
     Suspension Period");

          (iii) promptly notify in writing each Broker-Dealer that has requested
     or received from the Company copies of the Prospectus included in such
     Exchange Offer Registration Statement and issue a Press Release indicating
     the same, (A) when such Exchange Offer Registration Statement or the
     Prospectus included therein or any Prospectus amendment or supplement or
     post-effective amendment has been filed, and, with respect to such Exchange
     Offer Registration Statement or any post-effective amendment, when the same
     has become effective, (B) of the issuance by the Commission of any stop
     order suspending the effectiveness of such Exchange Offer Registration
     Statement or the initiation or threatening of any proceedings for that
     purpose, (C) of the receipt by the Company of any notification with respect
     to the suspension of the qualification of the Exchange Securities for sale
     in any jurisdiction or the initiation or threatening of any proceeding for
     such purpose, or (D) at any time during the Resale Period when a Prospectus
     is required to be delivered under the Act, that such Exchange Offer
     Registration Statement, Prospectus, Prospectus amendment or supplement or
     post-effective amendment does not conform in all material respects to the
     applicable requirements of the Act and the Trust Indenture Act and the
     rules and regulations of the Commission thereunder or contains an untrue
     statement of a material fact or omits to state a material fact required to
     be stated therein or necessary to make the statements therein not
     misleading in light of the circumstances then existing.  Each holder of
     Transfer Restricted Securities agrees that upon receipt of any notice from
     the Company pursuant to this Section 3(c)(iii)(D), such holder shall
     forthwith discontinue the disposition of Transfer Restricted Securities
     pursuant to the Exchange Offer Registration Statement applicable to such
     Transfer

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     Restricted Securities until such Broker-Dealer shall have received copies
     of such amended or supplemented Prospectus, and if so directed by the
     Company, such Broker-Dealer shall deliver to the Company (at the Company's
     expense) all copies, other than permanent file copies, then in such Broker-
     Dealer's possession of the Prospectus covering such Transfer Restricted
     Securities at the time of receipt of such notice;

          (iv) in the event that the Company would be required, pursuant to
     Section 3(c)(iii)(D) above, to notify any Broker-Dealers holding Exchange
     Securities, without unreasonable delay, subject to Section 3(c)(ii),
     prepare and furnish to each such holder a reasonable number of copies of a
     Prospectus supplemented or amended so that, as thereafter delivered to
     purchasers of such Exchange Securities during the Resale Period, such
     Prospectus shall conform in all material respects to the applicable
     requirements of the Act and the Trust Indenture Act and the rules and
     regulations of the Commission thereunder and shall not contain an untrue
     statement of a material fact or omit to state a material fact required to
     be stated therein or necessary to make the statements therein not
     misleading in light of the circumstances then existing;

          (v) subject to the provisos in (ii) above, use its best efforts to
     obtain the withdrawal of any order suspending the effectiveness of such
     Exchange Offer Registration Statement or any post-effective amendment
     thereto at the earliest practicable date;

          (vi) use its best efforts to (A) register or qualify the Exchange
     Securities under the securities laws or blue sky laws of such jurisdictions
     as are contemplated by Section 2(a) no later than the commencement of the
     Exchange Offer, (B) if applicable, keep such registrations or
     qualifications in effect and comply with such laws so as to permit the
     continuance of offers, sales and dealings therein in such jurisdictions
     until the expiration of the Resale Period and (C) take any and all other
     actions as may be reasonably necessary or advisable to enable each Broker-
     Dealer holding Exchange Securities to consummate the disposition thereof in
     such jurisdictions; provided, however, that the Company shall not be
     required for any such purpose to (1) qualify as a foreign corporation in
     any jurisdiction wherein it would not otherwise be required to qualify but
     for the requirements of this Section 3(c)(vi), (2) consent to general
     service of process in any such jurisdiction or (3) make any changes to its
     certificate of incorporation or by-laws or any agreement between it and its
     stockholders;

          (vii) use its best efforts to obtain the consent or approval of each
     governmental agency or authority, whether federal, state or local, which
     may be required to effect the Exchange Registration, the Exchange Offer and
     the offering and sale of Exchange Securities by Broker-Dealers during the
     Resale Period;

          (viii) provide a CUSIP number for all Exchange Securities, not later
     than the applicable Effective Time;

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          (ix) comply with all applicable rules and regulations of the
     Commission, and make generally available to its securityholders as soon as
     practicable but no later than eighteen months after the effective date of
     such Exchange Offer Registration Statement, an earning statement of the
     Company and its subsidiaries complying with Section 11(a) of the Act
     (including, at the option of the Company, Rule 158 thereunder).

     (d) In connection with the Company's obligations with respect to the
registration of the Transfer Restricted Securities as contemplated by Section
2(b) pursuant to the Shelf Registration, if applicable, the Company shall, as
soon as practicable (or as otherwise specified):

          (i) prepare and file with the Commission, as soon as practicable but
     in any case within the time periods specified in Section 2(b), a Shelf
     Registration Statement on any form which may be utilized by the Company and
     which shall register all of the Transfer Restricted Securities for resale
     by the holders thereof in accordance with such method or methods of
     disposition as may be specified by such of the holders as, from time to
     time, may be Electing Holders and use its best efforts to cause such Shelf
     Registration Statement to become effective as soon as practicable but in
     any case within the time periods specified in Section 2(b);

          (ii) not less than 30 calendar days prior to the Effective Time of the
     Shelf Registration Statement, mail the Notice and Questionnaire, in the
     form of Exhibit A hereto, to the holders of Transfer Restricted Securities;
             ---------
     no holder shall be entitled to be named as a selling securityholder in the
     Shelf Registration Statement as of the Effective Time, and no holder shall
     be entitled to use the Prospectus forming a part thereof for resales of
     Transfer Restricted Securities at any time, unless such holder has returned
     a completed and signed Notice and Questionnaire to the Company by the
     deadline for response set forth therein; provided, however, holders of
     Transfer Restricted Securities shall have at least 28 calendar days from
     the date on which the Notice and Questionnaire is first mailed to such
     holders to return a completed and signed Notice and Questionnaire to the
     Company;

          (iii) after the Effective Time of the Shelf Registration Statement,
     upon the request of any holder of Transfer Restricted Securities that is
     not then an Electing Holder, promptly send a Notice and Questionnaire to
     such holder; provided that the Company shall not be required to take any
     action to name such holder as a selling securityholder in the Shelf
     Registration Statement or to enable such holder to use the Prospectus
     forming a part thereof for resales of Transfer Restricted Securities until
     such holder has returned a completed and signed Notice and Questionnaire to
     the Company;

          (iv) as soon as practicable prepare and file with the Commission such
     amendments and supplements to such Shelf Registration Statement and the
     Prospectus included therein, and take any other action, as may be necessary
     to effect and maintain the effectiveness of such Shelf Registration
     Statement for the period specified in Section 2(b) hereof and as may be
     required by the applicable rules and regulations of the Commission and the
     instructions applicable to the form of such Shelf Registration Statement,
     and furnish to the Electing

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     Holders copies of any such supplement or amendment simultaneously with or
     prior to its being used or filed with the Commission; provided that upon
     the occurrence of any event that would cause any such Shelf Registration
     Statement or the Prospectus contained therein (A) to contain a material
     misstatement or omission or (B) not to be effective and usable for resale
     of Transfer Restricted Securities, either of which occurs during the period
     that the Company is required to maintain an effective and usable Shelf
     Registration Statement and Prospectus pursuant to this Agreement, the
     Company shall file promptly an appropriate amendment or supplement to such
     Registration Statement or Prospectus, (1) in the case of clause (A),
     correcting any such misstatement or omission, and (2) in the case of
     clauses (A) and (B) use its best efforts to cause any amendment to be
     declared effective and such Shelf Registration Statement and the related
     Prospectus to become usable for their intended purpose(s) as soon as
     practicable thereafter; provided further notwithstanding anything to the
     contrary set forth in this Agreement, the Company's obligations to use its
     best efforts to keep the Shelf Registration Statement continuously
     effective, supplemented and amended shall be suspended in the event
     continued effectiveness of the Shelf Registration Statement would, with the
     advice of counsel to the Company, make it advisable for the Company to
     disclose a material financing, acquisition or other corporate transaction,
     and the Board of Directors shall have determined in good faith that such
     disclosure is not in the best interests of the Company, but in no event
     will any such suspension, individually or in the aggregate, exceed ninety
     (90) days in any calendar year (such suspensions being referred to herein
     as a "Shelf Suspension Period");

          (v) comply with the provisions of the Act with respect to the
     disposition of all of the Transfer Restricted Securities covered by such
     Shelf Registration Statement in accordance with the intended methods of
     disposition by the Electing Holders provided for in such Shelf Registration
     Statement;

          (vi) provide (A) the Electing Holders, (B) the underwriters (which
     term, for purposes of this Exchange and Registration Rights Agreement,
     shall include a person deemed to be an underwriter within the meaning of
     Section 2(11) of the Act), if any, thereof, (C) any sales or placement
     agent therefor, (D) counsel for any such underwriters or agents and (E) not
     more than one counsel for all the Electing Holders the opportunity to
     participate in the preparation of such Shelf Registration Statement, each
     Prospectus included therein or filed with the Commission and each amendment
     or supplement thereto;

          (vii) for a reasonable period prior to the filing of such Shelf
     Registration Statement, and throughout the period specified in Section
     2(b), make available at reasonable times at the Company's principal place
     of business or such other reasonable place for inspection by the persons
     referred to in Section 3(d)(vi) who shall certify to the Company that they
     have a current intention to sell the Transfer Restricted Securities
     pursuant to the Shelf Registration such financial and other information and
     books and records of the Company, and cause the officers, employees,
     counsel and independent certified public accountants of the Company to
     respond to such inquiries, as shall be reasonably necessary, in the
     judgment of the respective counsel referred to in such Section, to conduct
     a reasonable investigation within the meaning

                                      -11-
<PAGE>

     of Section 11 of the Act; provided, however, that each such party shall be
     required to maintain in confidence and not to disclose to any other person
     any information or records reasonably designated by the Company as being
     confidential, until such time as (A) such information becomes a matter of
     public record (whether by virtue of its inclusion in such registration
     statement or otherwise), or (B) such person shall be required so to
     disclose such information pursuant to a subpoena or order of any court or
     other governmental agency or body having jurisdiction over the matter
     (subject to the requirements of such order, and only after such person
     shall have given the Company prompt prior written notice of such
     requirement), or (C) after the Effective Time and after having requested,
     in writing, that the Company include such information in such Shelf
     Registration Statement or an amendment or supplement thereto, and such
     request has not been accepted by the Company within 15 days of such
     request, such information, in the reasonable judgment of such party
     pursuant to advice of counsel, is required to be set forth in such Shelf
     Registration Statement or the Prospectus included therein or in an
     amendment to such Shelf Registration Statement or an amendment or
     supplement to such Prospectus in order that such Shelf Registration
     Statement, Prospectus, amendment or supplement, as the case may be,
     complies with applicable requirements of the federal securities laws and
     the rules and regulations of the Commission and does not contain an untrue
     statement of a material fact or omit to state therein a material fact
     required to be stated therein or necessary to make the statements therein
     not misleading in light of the circumstances then existing;

          (viii) promptly notify in writing each of the Electing Holders, any
     sales or placement agent therefor and any underwriter thereof (which
     notification may be made through any managing underwriter that is a
     representative of such underwriter for such purpose), (A) when such Shelf
     Registration Statement or the Prospectus included therein or any Prospectus
     amendment or supplement or post-effective amendment has been filed, and,
     with respect to such Shelf Registration Statement or any post-effective
     amendment, when the same has become effective, (B) of the issuance by the
     Commission of any stop order suspending the effectiveness of such Shelf
     Registration Statement or the initiation or threatening of any proceedings
     for that purpose, (C) of the receipt by the Company of any notification
     with respect to the suspension of the qualification of the Transfer
     Restricted Securities for sale in any jurisdiction or the initiation or
     threatening of any proceeding for such purpose, or (D) (I) if at any time
     when a Prospectus is required to be delivered under the Act, such Shelf
     Registration Statement, Prospectus, Prospectus amendment or supplement or
     post-effective amendment does not conform in all material respects to the
     applicable requirements of the Act and the Trust Indenture Act and the
     rules and regulations of the Commission thereunder or contains an untrue
     statement of a material fact or omits to state any material fact required
     to be stated therein or necessary to make the statements therein not
     misleading in light of the circumstances then existing; or (II) the
     occurrence of a Shelf Suspension Period;

          (ix) subject to the provisos in (iv) above, use its best efforts to
     obtain the withdrawal of any order suspending the effectiveness of such
     registration statement or any post-effective amendment thereto at the
     earliest practicable date;

                                      -12-
<PAGE>

          (x) if requested by any managing underwriter or underwriters, any
     placement or sales agent or any Electing Holder, promptly incorporate in a
     Prospectus supplement or post-effective amendment such information as is
     required by the applicable rules and regulations of the Commission and as
     such managing underwriter or underwriters, such agent or such Electing
     Holder specifies should be included therein relating to the terms of the
     sale of such Transfer Restricted Securities, including information with
     respect to the principal amount of Transfer Restricted Securities being
     sold by such Electing Holder or agent or to any underwriters, the name and
     description of such Electing Holder, agent or underwriter, the offering
     price of such Transfer Restricted Securities and any discount, commission
     or other compensation payable in respect thereof, the purchase price being
     paid therefor by such underwriters and with respect to any other terms of
     the offering of the Transfer Restricted Securities to be sold by such
     Electing Holder or agent or to such underwriters; and make all required
     filings of such Prospectus supplement or post-effective amendment promptly
     after notification of the matters to be incorporated in such Prospectus
     supplement or post-effective amendment;

          (xi) furnish to each Electing Holder, each placement or sales agent,
     if any, therefor, each underwriter, if any, thereof and the respective
     counsel referred to in Section 3(d)(vi) an executed copy (or, in the case
     of an Electing Holder, a conformed copy) of such Shelf Registration
     Statement, each such amendment and supplement thereto (in each case
     including all exhibits thereto (in the case of an Electing Holder of
     Transfer Restricted Securities, upon request) and documents incorporated by
     reference therein) and such number of copies of such Shelf Registration
     Statement (excluding exhibits thereto and documents incorporated by
     reference therein unless specifically so requested by such Electing Holder,
     agent or underwriter, as the case may be) and of the Prospectus included in
     such Shelf Registration Statement (including each preliminary Prospectus
     and any summary Prospectus), in conformity in all material respects with
     the applicable requirements of the Act and the Trust Indenture Act and the
     rules and regulations of the Commission thereunder, and such other
     documents, as such Electing Holder, agent, if any, and underwriter, if any,
     may reasonably request in order to facilitate the offering and disposition
     of the Transfer Restricted Securities owned by such Electing Holder,
     offered or sold by such agent or underwritten by such underwriter and to
     permit such Electing Holder, agent and underwriter to satisfy the
     Prospectus delivery requirements of the Act; and the Company hereby
     consents, unless it has otherwise notified the Electing Holder under
     Section 3(d)(iv) or (viii) hereof, to the use of such Prospectus (including
     such preliminary and summary Prospectus) and any amendment or supplement
     thereto by each such Electing Holder and by any such agent and underwriter,
     in each case in the form most recently provided to such person by the
     Company, in connection with the offering and sale of the Transfer
     Restricted Securities covered by the Prospectus (including such preliminary
     and summary Prospectus) or any supplement or amendment thereto;

          (xii) use its best efforts to (A) register or qualify the Transfer
     Restricted Securities to be included in such Shelf Registration Statement
     under such securities laws or blue sky laws of such jurisdictions as any
     Electing Holder and each placement or sales agent, if any,

                                      -13-
<PAGE>

     therefor and underwriter, if any, thereof shall reasonably request, (B)
     keep such registrations or qualifications in effect and comply with such
     laws so as to permit the continuance of offers, sales and dealings therein
     in such jurisdictions during the period the Shelf Registration is required
     to remain effective under Section 2(b) above and for so long as may be
     necessary to enable any such Electing Holder, agent or underwriter to
     complete its distribution of Securities pursuant to such Shelf Registration
     Statement and (C) take any and all other actions as may be reasonably
     necessary or advisable to enable each such Electing Holder, agent, if any,
     and underwriter, if any, to consummate the disposition in such
     jurisdictions of such Transfer Restricted Securities; provided, however,
     that the Company shall not be required for any such purpose to (1) qualify
     as a foreign corporation in any jurisdiction wherein it would not otherwise
     be required to qualify but for the requirements of this Section 3(d)(xii),
     (2) consent to general service of process in any such jurisdiction or (3)
     make any changes to its certificate of incorporation or by-laws or any
     agreement between it and its stockholders;

          (xiii) use its best efforts to obtain the consent or approval of each
     governmental agency or authority, whether federal, state or local, which
     may be required to effect the Shelf Registration or the offering or sale in
     connection therewith or to enable the selling holder or holders to offer,
     or to consummate the disposition of, their Transfer Restricted Securities;

          (xiv) cooperate with the Electing Holders and the managing
     underwriters, if any, to facilitate the timely preparation and delivery of
     certificates representing Transfer Restricted Securities to be sold, which
     certificates shall be printed, lithographed or engraved, or produced by any
     combination of such methods, and which shall not bear any restrictive
     legends; and, in the case of an underwritten offering, enable such Transfer
     Restricted Securities to be in such denominations and registered in such
     names as the managing underwriters may request at least two business days
     prior to any sale of the Transfer Restricted Securities;

          (xv) provide a CUSIP number for all Transfer Restricted Securities,
     not later than the applicable Effective Time;

          (xvi) enter into one or more underwriting agreements, engagement
     letters, agency agreements, "best efforts" underwriting agreements or
     similar agreements, as appropriate, including customary provisions relating
     to indemnification and contribution, and take such other actions in
     connection therewith as any Electing Holders aggregating at least 20% in
     aggregate principal amount of the Transfer Restricted Securities at the
     time outstanding shall reasonably request in order to expedite or
     facilitate the disposition of such Transfer Restricted Securities;

          (xvii) whether or not an agreement of the type referred to in Section
     3(d)(xvi) hereof is entered into and whether or not any portion of the
     offering contemplated by the Shelf Registration is an underwritten offering
     or is made through a placement or sales agent or any

                                      -14-
<PAGE>

     other entity, (A) make such representations and warranties to the Electing
     Holders and the placement or sales agent, if any, therefor and the
     underwriters, if any, thereof in form, substance and scope as are
     customarily made in connection with an offering of debt securities pursuant
     to any appropriate agreement or to a registration statement filed on the
     form applicable to the Shelf Registration; (B) obtain an opinion of counsel
     to the Company in customary form and covering such matters, of the type
     customarily covered by such an opinion, as the managing underwriters, if
     any, or as any Electing Holders of at least 20% in aggregate principal
     amount of the Transfer Restricted Securities at the time outstanding may
     reasonably request, addressed to such Electing Holder or Electing Holders
     and the placement or sales agent, if any, therefor and the underwriters, if
     any, thereof and dated the effective date of such Shelf Registration
     Statement (and if such Shelf Registration Statement contemplates an
     underwritten offering of a part or all of the Transfer Restricted
     Securities, dated the date of the closing under the underwriting agreement
     relating thereto) (it being agreed that the matters to be covered by such
     opinion shall include the due incorporation and good standing of the
     Company and its subsidiaries; the qualification of the Company and its
     subsidiaries to transact business as foreign corporations; the due
     authorization, execution and delivery by the Company of the relevant
     agreement of the type referred to in Section 3(d)(xvi) hereof; the due
     authorization, execution, authentication and issuance by the Company, and
     the validity and enforceability, of the Securities; the absence of
     knowledge of such counsel of material legal or governmental proceedings
     involving the Company; the absence of governmental approvals required to be
     obtained in connection with the Shelf Registration, the offering and sale
     of the Transfer Restricted Securities, this Exchange and Registration
     Rights Agreement or any agreement of the type referred to in Section
     3(d)(xvi) hereof, except such approvals as are referenced in the Shelf
     Registration Statement or as may be required under state securities or blue
     sky laws; the material compliance as to form of such Shelf Registration
     Statement and any documents incorporated by reference therein and of the
     Indenture with the requirements of the Act and the Trust Indenture Act and
     the rules and regulations of the Commission thereunder, respectively; and
     the expression of the belief of such counsel as to the absence of any facts
     having come to the attention of such counsel that have caused them to
     believe that such Shelf Registration Statement and the Prospectus included
     therein, as then amended or supplemented, as of the date of the opinion and
     of the Shelf Registration Statement or most recent post-effective amendment
     thereto, as the case may be, and from the documents incorporated by
     reference therein as of the dates of such documents (in each case other
     than the financial statements, related notes, related schedules and other
     financial data contained therein) contained an untrue statement of a
     material fact or omitted to state therein a material fact necessary to make
     the statements therein in light of the circumstances under which they were
     made, and in the case of the documents incorporated by reference, in the
     light of the circumstances existing at the time that such documents were
     filed with the Commission under the Exchange Act, not misleading); (C)
     obtain a "comfort" letter or letters from the independent certified public
     accountants of the Company addressed to the selling Electing Holders, the
     placement or sales agent, if any, therefor or the underwriters, if any,
     thereof, dated (i) the effective date of such Shelf Registration Statement
     and (ii) the effective date of any Prospectus supplement to the Prospectus
     included in such Shelf Registration Statement or post-effective amendment
     to such Shelf Registration

                                      -15-
<PAGE>

     Statement which includes unaudited or audited financial statements as of a
     date or for a period subsequent to that of the latest such statements
     included in such Prospectus (and, if such Shelf Registration Statement
     contemplates an underwritten offering pursuant to any Prospectus supplement
     to the Prospectus included in such Shelf Registration Statement or post-
     effective amendment to such Shelf Registration Statement which includes
     unaudited or audited financial statements as of a date or for a period
     subsequent to that of the latest such statements included in such
     Prospectus, dated the date of the closing under the underwriting agreement
     relating thereto), such letter or letters to be in customary form and
     covering such matters of the type customarily covered by letters of such
     type; (D) deliver such documents and certificates, including officers'
     certificates, as may be reasonably requested by any Electing Holders of at
     least 20% in aggregate principal amount of the Transfer Restricted
     Securities at the time outstanding or the placement or sales agent, if any,
     therefor and the managing underwriters, if any, thereof to evidence the
     accuracy of the representations and warranties made pursuant to clause (A)
     above or those contained in Section 5(a) hereof and the compliance with or
     satisfaction of any agreements or conditions contained in the underwriting
     agreement or other agreement entered into by the Company; and (E) undertake
     such obligations relating to expense reimbursement, indemnification and
     contribution as are provided in Section 6 hereof;

          (xviii) notify in writing each holder of Transfer Restricted
     Securities of any proposal by the Company to amend or waive any provision
     of this Exchange and Registration Rights Agreement pursuant to Section 9(h)
     hereof and of any amendment or waiver effected pursuant thereto, each of
     which notices shall contain the text of the amendment or waiver proposed or
     effected, as the case may be;

          (xix) in the event that any broker-dealer registered under the
     Exchange Act shall underwrite any Transfer Restricted Securities or
     participate as a member of an underwriting syndicate or selling group or
     "assist in the distribution" (within the meaning of the Rules of Fair
     Practice and the By-Laws of the National Association of Securities Dealers,
     Inc. ("NASD") or any successor thereto, as amended from time to time)
     thereof, whether as a holder of such Transfer Restricted Securities or as
     an underwriter, a placement or sales agent or a broker or dealer in respect
     thereof, or otherwise, assist such broker-dealer in complying with the
     requirements of such Rules and By-Laws, including by (A) if such Rules or
     By-Laws shall so require, engaging a "qualified independent underwriter"
     (as defined in such Schedule (or any successor thereto)) to participate in
     the preparation of the Shelf Registration Statement relating to such
     Transfer Restricted Securities, to exercise usual standards of due
     diligence in respect thereto and, if any portion of the offering
     contemplated by such Shelf Registration Statement is an underwritten
     offering or is made through a placement or sales agent, to recommend the
     yield of such Transfer Restricted Securities, (B) indemnifying any such
     qualified independent underwriter to the extent of the indemnification of
     underwriters provided in Section 6 hereof (or to such other customary
     extent as may be requested by such underwriter), and (C) providing such
     information to such broker-dealer as may be required in order for such
     broker-dealer to comply with the requirements of the Rules of Fair Practice
     of the NASD; and

                                      -16-
<PAGE>

          (xx) comply with all applicable rules and regulations of the
     Commission, and make generally available to its securityholders as soon as
     practicable but in any event not later than eighteen months after the
     effective date of such Shelf Registration Statement, an earning statement
     of the Company and its subsidiaries complying with Section 11(a) of the Act
     (including, at the option of the Company, Rule 158 thereunder).

     (e)  In the event that the Company would be required, pursuant to Section
3(d)(viii)(D) above, to notify the Electing Holders, the placement or sales
agent, if any, therefor and the managing underwriters, if any, thereof, the
Company shall without unreasonable delay, subject to Section 3(d)(iv), prepare
and furnish to each of the Electing Holders, to each placement or sales agent,
if any, and to each such underwriter, if any, a reasonable number of copies of a
Prospectus supplemented or amended so that, as thereafter delivered to
purchasers of Transfer Restricted Securities, such Prospectus shall conform in
all material respects to the applicable requirements of the Act and the Trust
Indenture Act and the rules and regulations of the Commission thereunder and
shall not contain an untrue statement of a material fact or omit to state a
material fact required to be stated therein or necessary to make the statements
therein not misleading in light of the circumstances then existing.  Each
Electing Holder agrees that upon receipt of any notice from the Company pursuant
to Section 3(d)(viii)(D) hereof, such Electing Holder shall forthwith
discontinue the disposition of Transfer Restricted Securities pursuant to the
Shelf Registration Statement applicable to such Transfer Restricted Securities
until such Electing Holder shall have received copies of such amended or
supplemented Prospectus, and if so directed by the Company, such Electing Holder
shall deliver to the Company (at the Company's expense) all copies, other than
permanent file copies, then in such Electing Holder's possession of the
Prospectus covering such Transfer Restricted Securities at the time of receipt
of such notice.

     (f)  In the event of a Shelf Registration, in addition to the information
required to be provided by each Electing Holder in its Notice and Questionnaire,
the Company may require such Electing Holder to furnish to the Company such
additional information regarding such Electing Holder and such Electing Holder's
intended method of distribution of Transfer Restricted Securities as may be
required in order to comply with the Act.  Each such Electing Holder agrees to
notify the Company as promptly as practicable of any inaccuracy or change in
information previously furnished by such Electing Holder to the Company or of
the occurrence of any event in either case as a result of which any Prospectus
relating to such Shelf Registration contains or would contain an untrue
statement of a material fact regarding such Electing Holder or such Electing
Holder's intended method of disposition of such Transfer Restricted Securities
or omits to state any material fact regarding such Electing Holder or such
Electing Holder's intended method of disposition of such Transfer Restricted
Securities required to be stated therein or necessary to make the statements
therein not misleading in light of the circumstances then existing, and promptly
to furnish to the Company any additional information required to correct and
update any previously furnished information or required so that such Prospectus
shall not contain, with respect to such Electing Holder or the disposition of
such Transfer Restricted Securities, an untrue statement of a material fact or
omit to state a material fact required to be stated therein or necessary to make
the statements therein not misleading in light of the circumstances then
existing.

                                      -17-
<PAGE>

     (g)  Until the expiration of two years after the Closing Date, the Company
will not resell, and will use its best efforts to prevent any of its Af filiates
from reselling, any of the Securities that have been reacquired by any of them
except pursuant to an effective registration statement under the Act.

     (h)  As a condition to its participation in the Exchange Offer pursuant to
the terms of this Agreement, each holder of Transfer Restricted Securities shall
furnish, upon the written request of the Company, prior to the completion of the
Exchange Offer, a written representation to the Company, (which may be contained
in the letter of transmittal contemplated by the Exchange Offer Registration
Statement) to the effect that (A) it is not an affiliate of the Company, (B) it
is not engaged in, and does not intend to engage in, and has no arrangement or
understanding with any person to participate in, a distribution of the Exchange
Securities to be issued in the Exchange Offer and (C) it is acquiring the
Exchange Securities in its ordinary course of business.  Each Holder hereby
acknowledges and agrees that any Broker-Dealer and any such holder using the
Exchange Offer to participate in a distribution of the securities to be acquired
in the Exchange Offer (1) could not under Commission policy as in effect on the
date of this Agreement rely on the position of the Commission enunciated in
Morgan Stanley and Co., Inc. (available June 5, 1991) and Exxon Capital Holdings
Corporation (available May 13, 1988), as interpreted in the Commission's letter
to Shearman & Sterling dated July 2, 1993, and similar no-action letters, and
(2) must comply with the registration and prospectus delivery requirements of
the Act in connection with a secondary resale transaction and that such a
secondary resale transaction must be covered by an effective registration
statement (which may be the Exchange Offer Registration Statement) containing
the selling security holder information required by Item 507 or 508, as
applicable, of Regulation S-K if the resales are of Exchange Securities obtained
by such Holder in exchange for securities acquired by such holder directly from
the Company or an affiliate thereof.

     4.   Registration Expenses.

     The Company agrees to bear and to pay or cause to be paid promptly all
expenses incident to the Company's performance of or compliance with this
Exchange and Registration Rights Agreement, including (a) all Commission and any
NASD registration, filing and review fees and expenses including fees and
disbursements of counsel for the placement or sales agent or underwriters in
connection with such NASD registration, filing and review, (b) all fees and
expenses in connection with the qualification of the Securities for offering and
sale under the State securities and blue sky laws referred to in Section
3(d)(xii) hereof and determination of their eligibility for investment under the
laws of such jurisdictions as any managing underwriters or the Electing Holders
may designate, including any fees and disbursements of counsel for the Electing
Holders (subject to the limitations of Clause (i) below) or underwriters in
connection with such qualification and determination, (c) all expenses relating
to the preparation, printing, production, distribution and reproduction of each
registration statement required to be filed hereunder, each Prospectus included
therein or prepared for distribution pursuant hereto, each amendment or
supplement to the foregoing, the expenses of preparing the Securities for
delivery and the expenses of printing or producing any underwriting agreements,
agreements among underwriters, selling agreements and blue sky or legal
investment memoranda and all other documents in connection with the offering,
sale or delivery of Securities to be disposed of (including certificates
representing the Securities), (d) messenger,

                                      -18-
<PAGE>

telephone and delivery expenses relating to the offering, sale or delivery of
Securities and the preparation of documents referred in clause (c) above, (e)
fees and expenses of the Trustee under the Indenture, any agent of the Trustee
and any counsel for the Trustee and of any collateral agent or custodian, (f)
internal expenses (including all salaries and expenses of the Company's officers
and employees performing legal or accounting duties), (g) fees, disbursements
and expenses of counsel and independent certified public accountants of the
Company (including the expenses of any opinions or "comfort" letters required by
or incident to such performance and compliance), (h) fees, disbursements and
expenses of any "qualified independent underwriter" engaged pursuant to Section
3(d)(xix) hereof, (i) fees, disbursements and expenses of one counsel for the
Electing Holders retained in connection with a Shelf Registration, as selected
by the Electing Holders of at least a majority in aggregate principal amount of
the Transfer Restricted Securities held by Electing Holders (which counsel shall
be reasonably satisfactory to the Company), (j) any fees charged by securities
rating services for rating the Securities, and (k) fees, expenses and
disbursements of any other persons, including special experts, retained by the
Company in connection with such registration (collectively, the "Registration
Expenses"). To the extent that any Registration Expenses are incurred, assumed
or paid by any holder of Transfer Restricted Securities or any placement or
sales agent therefor or underwriter thereof, the Company shall reimburse such
person for the full amount of the Registration Expenses so incurred, assumed or
paid promptly after receipt of a request therefor. Notwithstanding the
foregoing, the holders of the Transfer Restricted Securities being registered
shall pay all agency fees and commissions and underwriting discounts and
commissions attributable to the sale of such Transfer Restricted Securities and
the fees and disbursements of any counsel or other advisors or experts retained
by such holders (severally or jointly), other than the counsel and experts
specifically referred to above.

     5.   Representations and Warranties.

     The Company represents and warrants to, and agrees with, each Initial
Purchaser and each of the holders from time to time of Transfer Restricted
Securities that:

          (a)  Each registration statement covering Transfer Restricted
     Securities and each Prospectus (including any preliminary or summary
     Prospectus) contained therein or furnished pursuant to Section 3(d) or
     Section 3(c) hereof and any further amendments or supplements to any such
     registration statement or Prospectus, when it becomes effective or is filed
     with the Commission, as the case may be, and, in the case of an
     underwritten offering of Transfer Restricted Securities, at the time of the
     closing under the underwriting agreement relating thereto, will conform in
     all material respects to the applicable requirements of the Act and the
     Trust Indenture Act and the rules and regulations of the Commission
     thereunder and will not contain an untrue statement of a material fact or
     omit to state a material fact required to be stated therein or necessary to
     make the statements therein not misleading; and at all times subsequent to
     the Effective Time when a Prospectus would be required to be delivered
     under the Act, other than from (i) such time as a notice has been given to
     holders of Transfer Restricted Securities pursuant to Section 3(d)(viii)(D)
     or Section 3(c)(iii)(D) hereof until (ii) such time as the Company
     furnishes an amended or supplemented Prospectus pursuant to Section 3(e) or
     Section 3(c)(iv) hereof, each such registration statement, and each
     Prospectus (including any summary Prospectus) contained therein or
     furnished pursuant to

                                      -19-
<PAGE>

     Section 3(d) or Section 3(c) hereof, as then amended or supplemented, will
     conform in all material respects to the applicable requirements of the Act
     and the Trust Indenture Act and the rules and regulations of the Commission
     thereunder and will not contain an untrue statement of a material fact or
     omit to state a material fact required to be stated therein or necessary to
     make the statements therein not misleading in the light of the
     circumstances then existing; provided, however, that this representation
     and warranty shall not apply to any statements or omissions made in
     reliance upon and in conformity with information furnished in writing to
     the Company by a holder of Transfer Restricted Securities expressly for use
     therein.

          (b)  Any documents incorporated by reference in any Prospectus
     referred to in Section 5(a) hereof, when they become or became effective or
     are or were filed with the Commission, as the case may be, will conform or
     conformed in all material respects to the requirements of the Act or the
     Exchange Act, as applicable, and none of such documents will at such time
     contain or contained an untrue statement of a material fact or will omit or
     omitted to state a material fact required to be stated therein or necessary
     to make the statements therein not misleading; provided, however, that this
     representation and warranty shall not apply to any statements or omissions
     made in reliance upon and in conformity with information furnished in
     writing to the Company by a holder of Transfer Restricted Securities
     expressly for use therein.

          (c)  The compliance by the Company with all of the provisions of this
     Exchange and Registration Rights Agreement and the consummation of the
     transactions herein contemplated will not conflict with or result in a
     breach of any of the terms or provisions of, or constitute a default under,
     any material indenture, mortgage, deed of trust, loan agreement or other
     agreement or instrument to which the Company or any subsidiary of the
     Company is a party or by which the Company or any subsidiary of the Company
     is bound or to which any of the property or assets of the Company or any
     subsidiary of the Company is subject, nor will such action result in any
     violation of the provisions of the certificate of incorporation, as
     amended, or the by-laws of the Company or any statute or any order, rule or
     regulation of any court or governmental agency or body having jurisdiction
     over the Company or any subsidiary of the Company or any of their
     properties; and no consent, approval, authorization, order, registration or
     qualification of or with any such court or governmental agency or body is
     required for the consummation by the Company of the transactions
     contemplated by this Exchange and Registration Rights Agreement, except the
     registration under the Act of the Securities, qualification of the
     Indenture under the Trust Indenture Act and such consents, approvals,
     authorizations, registrations or qualifications as may be required under
     State securities or blue sky laws in connection with the offering and
     distribution of the Securities.

          (d)  This Exchange and Registration Rights Agreement has been duly
     authorized, executed and delivered by the Company.

     6.  Indemnification.

                                      -20-
<PAGE>

     (a)  Indemnification by the Company.  The Company shall indemnify and hold
harmless each of the holders of Transfer Restricted Securities included in an
Exchange Offer Registration Statement, each of the Electing Holders of Transfer
Restricted Securities included in a Shelf Registration Statement and each person
who participates as a placement or sales agent or as an underwriter in any
offering or sale of such Transfer Restricted Securities against any losses,
claims, damages or liabilities, joint or several, to which such holder, agent or
underwriter may become subject under the Act or otherwise, insofar as such
losses, claims, damages or liabilities (or actions in respect thereof) arise out
of or are based upon an untrue statement or alleged untrue statement of a
material fact contained in any Exchange Offer Registration Statement or Shelf
Registration Statement, as the case may be, under which such Transfer Restricted
Securities were registered under the Act, or any preliminary, final or summary
Prospectus contained therein or furnished by the Company to any such holder,
Electing Holder, agent or underwriter, or any amendment or supplement thereto,
or arise out of or are based upon the omission or alleged omission to state
therein a material fact required to be stated therein or necessary to make the
statements therein not misleading, and the Company shall, and it hereby agrees
to, reimburse such holder, such Electing Holder, such agent and such underwriter
for any legal or other expenses reasonably incurred by them in connection with
investigating or defending any such action or claim as such expenses are
incurred; provided, however, that the Company shall not be liable to any such
person in any such case to the extent that any such loss, claim, damage or
liability arises out of or is based upon an untrue statement or alleged untrue
statement or omission or alleged omission made in such registration statement,
or preliminary, final or summary Prospectus, or amendment or supplement thereto,
in reliance upon and in conformity with written information furnished to the
Company by such person expressly for use therein;

     (b)  Indemnification by the Holders and any Agents and Underwriters.  The
Company may require, as a condition to including any Transfer Restricted
Securities in any registration statement filed pursuant to Section 2(b) hereof
and to entering into any underwriting agreement with respect thereto, that the
Company shall have received an undertaking reasonably satisfactory to it from
the Electing Holder of such Transfer Restricted Securities and from each
underwriter named in any such underwriting agreement, severally and not jointly,
to (i) indemnify and hold harmless the Company, and all other holders of
Transfer Restricted Securities, against any losses, claims, damages or
liabilities to which the Company or such other holders of Transfer Restricted
Securities may become subject, under the Act or otherwise, insofar as such
losses, claims, damages or liabilities (or actions in respect thereof) arise out
of or are based upon an untrue statement or alleged untrue statement of a
material fact contained in such registration statement, or any preliminary,
final or summary Prospectus contained therein or furnished by the Company to any
such Electing Holder, agent or underwriter, or any amendment or supplement
thereto, or arise out of or are based upon the omission or alleged omission to
state therein a material fact required to be stated therein or necessary to make
the statements therein not misleading, in each case to the extent, but only to
the extent, that such untrue statement or alleged untrue statement or omission
or alleged omission was made in reliance upon and in conformity with written
information furnished to the Company by such Electing Holder or underwriter
expressly for use therein, and (ii) reimburse the Company for any legal or other
expenses reasonably incurred by the Company in connection with investigating or
defending any such action or claim as such expenses are incurred; provided,
however, that no such Electing Holder

                                      -21-
<PAGE>

shall be required to undertake liability to any person under this Section 6(b)
for any amounts in excess of the dollar amount of the proceeds to be received by
such Electing Holder from the sale of such Electing Holder's Transfer Restricted
Securities pursuant to such registration.

     (c)  Notices of Claims, Etc.  Promptly after receipt by an indemnified
party under subsection (a) or (b) above of written notice of the commencement of
any action, such indemnified party shall, if a claim in respect thereof is to be
made against an indemnifying party pursuant to the indemnification provisions of
or contemplated by this Section 6, notify such indemnifying party in writing of
the commencement of such action; but the omission so to notify the indemnifying
party shall not relieve it from any liability which it may have to any
indemnified party other than under the indemnification provisions of or
contemplated by Section 6(a) or 6(b) hereof. In case any such action shall be
brought against any indemnified party and it shall notify an indemnifying party
of the commencement thereof, such indemnifying party shall be entitled to
participate therein and, to the extent that it shall wish, jointly with any
other indemnifying party similarly notified, to assume the defense thereof, with
counsel reasonably satisfactory to such indemnified party (who shall not, except
with the consent of the indemnified party, be counsel to the indemnifying
party), and, after notice from the indemnifying party to such indemnified party
of its election so to assume the defense thereof, such indemnifying party shall
not be liable to such indemnified party for any legal expenses of other counsel
or any other expenses, in each case subsequently incurred by such indemnified
party, in connection with the defense thereof other than reasonable costs of
investigation. No indemnifying party shall, without the written consent of the
indemnified party, effect the settlement or compromise of, or consent to the
entry of any judgment with respect to, any pending or threatened action or claim
in respect of which indemnification or contribution may be sought hereunder
(whether or not the indemnified party is an actual or potential party to such
action or claim) unless such settlement, compromise or judgment (i) includes an
unconditional release of the indemnified party from all liability arising out of
such action or claim and (ii) does not include a statement as to or an admission
of fault, culpability or a failure to act by or on behalf of any indemnified
party.

     (d)  Contribution.  If for any reason the indemnification provisions
contemplated by Section 6(a) or Section 6(b) are unavailable to or insufficient
to hold harmless an indemnified party in respect of any losses, claims, damages
or liabilities (or actions in respect thereof) referred to therein, then each
indemnifying party shall contribute to the amount paid or payable by such
indemnified party as a result of such losses, claims, damages or liabilities (or
actions in respect thereof) in such proportion as is appropriate to reflect the
relative fault of the indemnifying party and the indemnified party in connection
with the statements or omissions which resulted in such losses, claims, damages
or liabilities (or actions in respect thereof), as well as any other relevant
equitable considerations.  The relative fault of such indemnifying party and
indemnified party shall be determined by reference to, among other things,
whether the untrue or alleged untrue statement of a material fact or omission or
alleged omission to state a material fact relates to information supplied by
such indemnifying party or by such indemnified party, and the parties' relative
intent, knowledge, access to information and opportunity to correct or prevent
such statement or omission.  The parties hereto agree that it would not be just
and equitable if contributions pursuant to this Section 6(d) were determined by
pro rata allocation (even if the holders or any agents or underwriters or all of
them were treated as one entity for such purpose) or by any other method of
allocation which does not take account of the

                                      -22-
<PAGE>

equitable considerations referred to in this Section 6(d). The amount paid or
payable by an indemnified party as a result of the losses, claims, damages, or
liabilities (or actions in respect thereof) referred to above shall be deemed to
include any legal or other fees or expenses reasonably incurred by such
indemnified party in connection with investigating or defending any such action
or claim. Notwithstanding the provisions of this Section 6(d), no holder shall
be required to contribute any amount in excess of the amount by which the dollar
amount of the proceeds received by such holder from the sale of any Transfer
Restricted Securities (after deducting any fees, discounts and commissions
applicable thereto) exceeds the amount of any damages which such holder has
otherwise been required to pay by reason of such untrue or alleged untrue
statement or omission or alleged omission, and no underwriter shall be required
to contribute any amount in excess of the amount by which the total price at
which the Transfer Restricted Securities underwritten by it and distributed to
the public were offered to the public exceeds the amount of any damages which
such underwriter has otherwise been required to pay by reason of such untrue or
alleged untrue statement or omission or alleged omission. No person guilty of
fraudulent misrepresentation (within the meaning of Section 11(f) of the Act)
shall be entitled to contribution from any person who was not guilty of such
fraudulent misrepresentation. The holders' and any underwriters' obligations in
this Section 6(d) to contribute shall be several in proportion to the principal
amount of Transfer Restricted Securities registered or underwritten, as the case
may be, by them and not joint.

     (e)  The obligations of the Company under this Section 6 shall be in
addition to any liability which the Company may otherwise have and shall extend,
upon the same terms and conditions, to each officer, director and partner of
each holder, agent and underwriter and each person, if any, who controls any
holder, agent or underwriter within the meaning of the Act; and the obligations
of the holders and any agents or underwriters contemplated by this Section 6
shall be in addition to any liability which the respective holder, agent or
underwriter may otherwise have and shall extend, upon the same terms and
conditions, to each officer and director of the Company (including any person
who, with his consent, is named in any registration statement as about to become
a director of the Company) and to each person, if any, who controls the Company
within the meaning of the Act.

     7.   Underwritten Offerings.

     (a)  Selection of Underwriters.  If any of the Transfer Restricted
Securities covered by the Shelf Registration are to be sold pursuant to an
underwritten offering, the managing underwriter or underwriters thereof shall be
designated by Electing Holders holding at least a majority in aggregate
principal amount of the Transfer Restricted Securities to be included in such
offering, provided that such designated managing underwriter or underwriters is
or are reasonably acceptable to the Company.

     (b)  Participation by Holders.  Each holder of Transfer Restricted
Securities hereby agrees with each other such holder that no such holder may
participate in any underwritten offering hereunder unless such holder (i) agrees
to sell such holder's Transfer Restricted Securities on the basis provided in
any underwriting arrangements approved by the persons entitled hereunder to
approve such arrangements and (ii) completes and executes all questionnaires,
powers of attorney,

                                      -23-
<PAGE>

indemnities, underwriting agreements and other documents reasonably required
under the terms of such underwriting arrangements.

     8.   Rule 144.

     The Company covenants to the holders of Transfer Restricted Securities that
to the extent it shall be required to do so under the Exchange Act, the Company
shall timely file the reports required to be filed by it under the Exchange Act
or the Act (including the reports under Section 13 and 15(d) of the Exchange Act
referred to in subparagraph (c)(1) of Rule 144 adopted by the Commission under
the Act) and the rules and regulations adopted by the Commission thereunder, and
shall take such further action as any holder of Transfer Restricted Securities
may reasonably request, all to the extent required from time to time to enable
such holder to sell Transfer Restricted Securities without registration under
the Act within the limitations of the exemption provided by Rule 144 under the
Act, as such Rule may be amended from time to time, or any similar or successor
rule or regulation hereafter adopted by the Commission.  Upon the request of any
holder of Transfer Restricted Securities in connection with that holder's sale
pursuant to Rule 144, the Company shall deliver to such holder a written
statement as to whether it has complied with such requirements.

     9.   Miscellaneous.

     (a)  No Inconsistent Agreements.  The Company represents, warrants,
covenants and agrees that it has not granted, and shall not grant, registration
rights with respect to Transfer Restricted Securities or any other securities
which would be inconsistent with the terms contained in this Exchange and
Registration Rights Agreement.

     (b)  Specific Performance.  The parties hereto acknowledge that there would
be no adequate remedy at law if the Company fails to perform any of their
respective obligations hereunder and that the Initial Purchasers and the holders
from time to time of the Transfer Restricted Securities may be irreparably
harmed by any such failure, and accordingly agree that the Initial Purchasers
and such holders, in addition to any other remedy to which they may be entitled
at law or in equity, shall be entitled to compel specific performance of the
respective obligations of the Company under this Exchange and Registration
Rights Agreement in accordance with the terms and conditions of this Exchange
and Registration Rights Agreement, in any court of the United States or any
State thereof having jurisdiction.

     (c)  Notices.  All notices, requests, claims, demands, waivers and other
communications hereunder shall be in writing and shall be deemed to have been
duly given when delivered by hand, if delivered personally or by courier, or
three days after being deposited in the mail (registered or certified mail,
postage prepaid, return receipt requested) as follows:

               To the Company:

               Exodus Communications, Inc.
               2831 Mission College Blvd.

                                      -24-
<PAGE>

               Santa Clara, California 95054
               Attention:  General Counsel
               Phone:  (408) 346-2200
               Fax:  (408) 346-2206

               To the Initial Purchasers:

               Goldman, Sachs & Co.
               Donaldson, Lufkin & Jenrette Securities Corporation
               BancBoston Robertson Stephens Inc.
               PaineWebber Incorporated
               Morgan Stanley & Co. Incorporated
               c/o Goldman, Sachs & Co.
               85 Broad Street
               New York, NY 10004

               Phone:  (212) 902-1000
               Fax:  (212) 902-3000

               To a holder:

               to the address of such holder set forth in the security register
               or other records of the Company, or to such other address as the
               Company or any such holder may have furnished to the other in
               writing in accordance herewith, except that notices of change of
               address shall be effective only upon receipt.

     (d)  Parties in Interest.  All the terms and provisions of this Exchange
and Registration Rights Agreement shall be binding upon, shall inure to the
benefit of and shall be enforceable by the parties hereto and the holders from
time to time of the Transfer Restricted Securities and the respective successors
and assigns of the parties hereto and such holders. In the event that any
transferee of any holder of Transfer Restricted Securities shall acquire
Transfer Restricted Securities, in any manner, whether by gift, bequest,
purchase, operation of law or otherwise, such transferee shall, without any
further writing or action of any kind, be deemed a beneficiary hereof for all
purposes and such Transfer Restricted Securities shall be held subject to all of
the terms of this Exchange and Registration Rights Agreement, and by taking and
holding such Transfer Restricted Securities such transferee shall be entitled to
receive the benefits of, and be conclusively deemed to have agreed to be bound
by all of the applicable terms and provisions of this Exchange and Registration
Rights Agreement. If the Company shall so request, any such successor, assign or
transferee shall agree in writing to acquire and hold the Transfer Restricted
Securities subject to all of the applicable terms hereof.

     (e)  Survival.  The respective indemnities, agreements, representations,
warranties and each other provision set forth in this Exchange and Registration
Rights Agreement or made pursuant

                                      -25-
<PAGE>

hereto shall remain in full force and effect regardless of any investigation (or
statement as to the results thereof) made by or on behalf of any holder of
Transfer Restricted Securities, any director, officer or partner of such holder,
any agent or underwriter or any director, officer or partner thereof, or any
controlling person of any of the foregoing, and shall survive delivery of and
payment for the Transfer Restricted Securities pursuant to the Purchase
Agreement and the transfer and registration of Transfer Restricted Securities by
such holder and the consummation of an Exchange Offer.

     (f)  LAW GOVERNING.  THIS EXCHANGE AND REGISTRATION RIGHTS AGREEMENT SHALL
BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAW OF THE STATE OF NEW
YORK.

     (g)  Headings.  The descriptive headings of the several Sections and
paragraphs of this Exchange and Registration Rights Agreement are inserted for
convenience only, do not constitute a part of this Exchange and Registration
Rights Agreement and shall not affect in any way the meaning or interpretation
of this Exchange and Registration Rights Agreement.

     (h)  Entire Agreement; Amendments.  This Exchange and Registration Rights
Agreement and the other writings referred to herein (including the Indenture and
the form of Securities) or delivered pursuant hereto which form a part hereof
contain the entire understanding of the parties with respect to its subject
matter.  This Exchange and Registration Rights Agreement supersedes all prior
agreements and understandings between the parties with respect to its subject
matter.  This Exchange and Registration Rights Agreement may be amended and the
observance of any term of this Exchange and Registration Rights Agreement may be
waived (either generally or in a particular instance and either retroactively or
prospectively) only by a written instrument duly executed by the Company and the
holders of at least a majority in aggregate principal amount of the Transfer
Restricted Securities at the time outstanding.  Each holder of any Transfer
Restricted Securities at the time or thereafter outstanding shall be bound by
any amendment or waiver effected pursuant to this Section 9(h), whether or not
any notice, writing or marking indicating such amendment or waiver appears on
such Transfer Restricted Securities or is delivered to such holder.

     (i)  Counterparts.  This agreement may be executed by the parties in
counterparts, each of which shall be deemed to be an original, but all such
respective counterparts shall together constitute one and the same instrument.

                                      -26-
<PAGE>

     IN WITNESS WHEREOF, the parties have executed this Agreement as of the date
referred to above.

                              EXODUS COMMUNICATIONS, INC.

                              By:    /s/ Ellen M. Hancock
                                  ---------------------------------------------
                                 Name:   Ellen M. Hancock
                                 Title:  President and CEO

                              INITIAL PURCHASERS

                              GOLDMAN, SACHS & CO.
                              DONALDSON, LUFKIN & JENRETTE SECURITIES
                                CORPORATION
                              BANCBOSTON ROBERTSON STEPHENS INC.
                              PAINEWEBBER INCORPORATED
                              MORGAN STANLEY & CO. INCORPORATED

                              GOLDMAN, SACHS & CO., on behalf of each of
                                the Initial Purchasers

                              By:   /s/ Goldman, Sachs & Co.
                                  ---------------------------------------------
                                 Name:
                                 Title:

<PAGE>

                                                                       Exhibit A

                          EXODUS COMMUNICATIONS, INC.

                        INSTRUCTION TO DTC PARTICIPANTS
                        -------------------------------

                               (Date of Mailing)

                    URGENT - IMMEDIATE ATTENTION REQUESTED

                       DEADLINE FOR RESPONSE: [DATE]/1/
                       --------------------------------

          The Depository Trust Company ("DTC") has identified you as a DTC
Participant through which beneficial interests in the Exodus Communications,
Inc. (the "Company") $375,000,000 principal amount of 10 3/4% Senior Notes due
2009 (the "Dollar Securities") and 125,000,000 principal amount of 10 3/4%
Senior Notes due 2009 (the "Euro Securities" and together with the Dollar
Securities, the "Securities") are held.

          The Company is in the process of registering the Securities under the
Securities Act of 1933 for resale by the beneficial owners thereof.  In order to
have their Securities included in the registration statement, beneficial owners
must complete and return the enclosed Notice of Registration Statement and
Selling Securityholder Questionnaire.

          It is important that beneficial owners of the Securities receive a
          ------------------------------------------------------------------
copy of the enclosed materials as soon as possible as their rights to have the
--------------------------------------------------
Securities included in the registration statement depend upon their returning
the Notice and Questionnaire by [DEADLINE FOR RESPONSE].  Please forward a copy
                                 ---------------------
of the enclosed documents to each beneficial owner that holds interests in the
Securities through you.  If you require more copies of the enclosed materials or
have any questions pertaining to this matter, please contact Exodus
Communications, Inc., 2831 Mission College Blvd., Santa Clara, CA 95054,
Attention:  General Counsel, (408) 346-2200.

_______________
/1/  Not less than 28 calendar days from date of mailing.
 -

                                      -1-
<PAGE>

                          Exodus Communications, Inc.

                       Notice of Registration Statement
                                      and
                     Selling Securityholder Questionnaire
                     ------------------------------------

                                  (Date)

          Reference is hereby made to the Exchange and Registration Rights
Agreement (the "Exchange and Registration Rights Agreement") between Exodus
Communications, Inc. (the "Company") and the Initial Purchasers named therein.
Pursuant to the Exchange and Registration Rights Agreement, the Company has
filed with the United States Securities and Exchange Commission (the
"Commission") a registration statement on Form [___] (the "Shelf Registration
Statement") for the registration and resale under Rule 415 of the Securities Act
of 1933, as amended (the "Act"), of the Company's $375,000,000 principal amount
of 10 3/4% Senior Notes due 2009 (the "Dollar Securities") and 125,000,000
principal amount of 10 3/4% Senior Notes due 2009 (the "Euro Securities" and
together with the Dollar Securities, the "Securities").  A copy of the Exchange
and Registration Rights Agreement is attached hereto.  All capitalized terms not
otherwise defined herein shall have the meanings ascribed thereto in the
Exchange and Registration Rights Agreement.

          Each beneficial owner of Transfer Restricted Securities (as defined
below) is entitled to have the Transfer Restricted Securities beneficially owned
by it included in the Shelf Registration Statement.  In order to have Transfer
Restricted Securities included in the Shelf Registration Statement, this Notice
of Registration Statement and Selling Securityholder Questionnaire ("Notice and
Questionnaire") must be completed, executed and delivered to the Company's
counsel at the address set forth herein for receipt ON OR BEFORE [DEADLINE FOR
                                                    --------------------------
RESPONSE].  Beneficial owners of Transfer Restricted Securities who do not
---------
complete, execute and return this Notice and Questionnaire by such date (i) will
not be named as selling securityholders in the Shelf Registration Statement and
(ii) may not use the Prospectus forming a part thereof for resales of Transfer
Restricted Securities.

          Certain legal consequences arise from being named as a selling
securityholder in the Shelf Registration Statement and related Prospectus.
Accordingly, holders and beneficial owners of Transfer Restricted Securities are
advised to consult their own securities law counsel regarding the consequences
of being named or not being named as a selling securityholder in the Shelf
Registration Statement and related Prospectus.

          The term "Transfer Restricted Securities" is defined in the Exchange
                    ------------------------------
and Registration Rights Agreement.

                                      -2-
<PAGE>

                                   ELECTION

          The undersigned holder (the "Selling Securityholder") of Transfer
Restricted Securities hereby elects to include in the Shelf Registration
Statement the Transfer Restricted Securities beneficially owned by it and listed
below in Item (c).  The undersigned, by signing and returning this Notice and
Questionnaire, agrees to be bound with respect to such Transfer Restricted
Securities by the terms and conditions of this Notice and Questionnaire and the
Exchange and Registration Rights Agreement, including, without limitation,
Section 6 of the Exchange and Registration Rights Agreement, as if the
undersigned Selling Securityholder were an original party thereto.

          Upon any sale of Transfer Restricted Securities pursuant to the Shelf
Registration Statement, the Selling Securityholder will be required to deliver
to the Company and Trustee the Notice of Transfer set forth in Appendix A to the
Prospectus and as Exhibit B to the Exchange and Registration Rights Agreement.

          The Selling Securityholder hereby provides the following information
to the Company and represents and warrants that such information is accurate and
complete:

                                      -3-
<PAGE>

                                  QUESTIONNAIRE

(a)  Full Legal Name of Selling Securityholder:

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

     (i)   Full Legal Name of Registered Holder (if not the same as in (a)
           above) of Transfer Restricted Securities Listed in Item (c) below:

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

     (ii)  Full Legal Name of DTC Participant (if applicable and if not the same
           as (a) above) Through Which Transfer Restricted Securities Listed in
           Item (c) below are Held:

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

(b)  Address for Notices to Selling Securityholder:

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

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

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

     Telephone:               -----------------------------------

     Fax:                     -----------------------------------

     Contact Person:          -----------------------------------

(c)  Beneficial Ownership of Securities:

     Except as set forth below in this Item (c), the undersigned does not
beneficially own any Securities.

     (i)   Principal amount of Transfer Restricted Securities beneficially
           owned:_______________________

           CUSIP No(s). of such Transfer Restricted Securities:_________________

     (ii)  Principal amount of Securities other than Transfer Restricted
           Securities beneficially owned:_______________________________________

           CUSIP No(s). of such other Securities:_______________________________

                                      -4-
<PAGE>

     (iii)  Principal amount of Transfer Restricted Securities which the
            undersigned wishes to be included in the Shelf Registration
            Statement:__________________________________________________________

            CUSIP No(s). of such Transfer Restricted Securities to be included
            in the Shelf Registration Statement:________________________________

(d)  Beneficial Ownership of Other Securities of the Company:

     Except as set forth below in this Item (d), the undersigned Selling
Securityholder is not the beneficial or registered owner of any other securities
of the Company, other than the Securities listed above in Item (c).

     State any exceptions here:

(e)  Relationships with the Company:

     Except as set forth below, neither the Selling Securityholder nor any of
its affiliates, officers, directors or principal equity holders (5% or more) has
held any position or office or has had any other material relationship with the
Company (or its predecessors or affiliates) during the past three years.

     State any exceptions here:

(f)  Plan of Distribution:

          Except as set forth below, the undersigned Selling Securityholder
intends to distribute the Transfer Restricted Securities listed above in Item
(c) only as follows (if at all):  Such Transfer Restricted Securities may be
sold from time to time directly by the undersigned Selling Securityholder or,
alternatively, through underwriters, Broker-Dealers or agents.  Such Transfer
Restricted Securities may be sold in one or more transactions at fixed prices,
at prevailing market prices at the time of sale, at varying prices determined at
the time of sale, or at negotiated prices.  Such sales may be effected in
transactions (which may involve crosses or block transactions) (i) on any
national securities exchange or quotation service on which the Transfer
Restricted Securities may be listed or quoted at the time of sale, (ii) in the
over-the-counter market, (iii) in transactions otherwise than on such exchanges
or services or in the over-the-counter market, or (iv) through the writing of
options.  In connection with sales of the Transfer Restricted Securities or
otherwise, the Selling Securityholder may enter into hedging transactions with
Broker-Dealers, which may in turn

                                      -5-
<PAGE>

engage in short sales of the Transfer Restricted Securities in the course of
hedging the positions they assume. The Selling Securityholder may also sell
Transfer Restricted Securities short and deliver Transfer Restricted Securities
to close out such short positions, or loan or pledge Transfer Restricted
Securities to Broker-Dealers that in turn may sell such securities.

     State any exceptions here:

     By signing below, the Selling Securityholder acknowledges that it
understands its obligation to comply, and agrees that it will comply, with the
provisions of the Securities Exchange Act of 1934, as amended (the "Exchange
Act") and the rules and regulations thereunder, particularly Rule 10b-6.

     In the event that the Selling Securityholder transfers all or any portion
of the Transfer Restricted Securities listed in Item (c) above after the date on
which such information is provided to the Company, the Selling Securityholder
agrees to notify the transferee(s) at the time of the transfer of its rights and
obligations under this Notice and Questionnaire and the Exchange and
Registration Rights Agreement.

     By signing below, the Selling Securityholder consents to the disclosure of
the information contained herein in its answers to Items (a) through (f) above
and the inclusion of such information in the Shelf Registration Statement and
related Prospectus.  The Selling Securityholder understands that such
information will be relied upon by the Company in connection with the
preparation of the Shelf Registration Statement and related Prospectus.

     In accordance with the Selling Securityholder's obligation under Section
3(d) and (f) of the Exchange and Registration Rights Agreement to provide such
information as may be required by law for inclusion in the Shelf Registration
Statement, the Selling Securityholder agrees to notify the Company promptly of
any inaccuracies or changes in the information provided herein which may occur
subsequent to the date hereof at any time while the Shelf Registration Statement
remains in effect.  All notices hereunder and pursuant to the Exchange and

                                      -6-
<PAGE>

Registration Rights Agreement shall be made in writing, by hand-delivery, first-
class mail, or air courier guaranteeing overnight delivery as follows:

          (i)   To the Company:

                    Exodus Communications, Inc.
                    2831 Mission College Blvd.
                    Santa Clara, California 95054
                    Attention:  General Counsel
                    (408) 346-2200.

          (ii)  With a copy to:

                    Fenwick & West, LLP
                    Two Palo Alto Square
                    Palo Alto, CA 94306
                    Attention:  Eileen Duffy Robinett
                    (650) 494-0600

     Once this Notice and Questionnaire is executed by the Selling
Securityholder and received by the Company's counsel, the terms of this Notice
and Questionnaire, and the representations and warranties contained herein,
shall be binding on, shall inure to the benefit of and shall be enforceable by
the respective successors, heirs, personal representatives, and assigns of the
Company and the Selling Securityholder (with respect to the Transfer Restricted
Securities beneficially owned by such Selling Securityholder and listed in Item
(c) above).  This Agreement shall be governed in all respects by the laws of the
State of New York.

                                      -7-
<PAGE>

     IN WITNESS WHEREOF, the undersigned, by authority duly given, has caused
this Notice and Questionnaire to be executed and delivered either in person or
by its duly authorized agent.

Dated:  ________________

                         ---------------------------------------------
                         Selling Securityholder
                         (Print/type full legal name of beneficial
                         owner of Transfer Restricted Securities)

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

PLEASE RETURN THE COMPLETED AND EXECUTED NOTICE AND QUESTIONNAIRE FOR RECEIPT ON
OR BEFORE [DEADLINE FOR RESPONSE] TO THE COMPANY'S COUNSEL AT:

                    Fenwick & West LLP
                    Two Palo Alto Square
                    Palo Alto, CA 94306
                    Attention:  Eileen Duffy Robinett
                    (650) 494-0600

                                      -8-
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                                                                       Exhibit B

             NOTICE OF TRANSFER PURSUANT TO REGISTRATION STATEMENT

Chase Manhattan Bank and Trust Company,
National Association
Exodus Communications, Inc.
c/o Chase Manhattan Bank and Trust Company,
National Association
101 Barclay Street
Floor 21 West
New York, NY 10286

Attention:  Trust Officer

          Re:  Exodus Communications, Inc. (the "Company")
               $375,000,000 10 3/4% Senior Notes due 2009
               Euro 125,000,000 10 3/4% Senior Notes due 2009
               ----------------------------------------------

Ladies and Gentlemen:

          Please be advised that _____________________ has transferred
$___________ aggregate principal amount of the above-referenced Notes pursuant
to an effective Registration Statement on Form [___] (File No. 333-____) filed
by the Company.

          We hereby certify that the prospectus delivery requirements, if any,
of the Securities Act of 1933, as amended, have been satisfied and that the
above-named beneficial owner of the Notes is named as a "Selling Holder" in the
Prospectus dated ___________, 199_ or in supplements thereto, and that the
aggregate principal amount of the Notes transferred are the Notes listed in such
Prospectus opposite such owner's name.

Dated:
                                         Very truly yours,

                                         ________________________
                                         (Name)

                                         By:________________________
                                          (Authorized Signature)

                                      -1-<PAGE>

                                                                   Exhibit 10.23

                                PROMISSORY NOTE
                       SECURED BY STOCK PLEDGE AGREEMENT

         NOTICE: THIS PROMISSORY NOTE PROVIDES FOR A BALLOON PAYMENT.

$150,885                                 San Mateo, California
                                         December 23, 1999

     For value received, the undersigned, Marcelo Gumucio ("Director") and
Carole Gumucio (collectively, "Borrower") jointly and severally promise to pay
to E-STAMP CORPORATION, a Delaware corporation ("E-Stamp"), or order, at 2855
Campus Drive, San Mateo CA 94403, or such other place as E-Stamp may designate
in writing from time to time, in lawful money of the United States of America,
without abatement, demand, deduction, setoff or counterclaim, the principal sum
of One Hundred Fifty Thousand Eight Hundred Eighty-Five Dollars ($150,885),
together with interest thereon at the rate of five and seventy-four hundreths
percent (5.74%) per annum, compounded annually, from the date first set forth
above until all outstanding principal, accrued interest and other charges under
this Promissory Note are paid in full.

     1.   Payments.  All outstanding principal and accrued interest under this
          --------
Promissory Note shall be due and payable on the Due Date (as defined below);
provided, however, that so long as Director is a director on the Board of
Directors of E-Stamp, Borrower's obligation to pay principal and interest under
this Promissory Note shall be forgiven as follows: (a) principal in the amount
of Eighteen Thousand Eight Hundred Sixty Dollars ($18,860) shall be forgiven as
of the date first set forth above, and (b) principal in the amount of Eighteen
Thousand Eight Hundred Sixty Dollars ($18,860), plus accrued but unpaid interest
on the outstanding balance of principal hereunder, shall be forgiven on February
18, 2000, May 18, 2000, August 18, 2000, November 18, 2000, February 18, 2001,
and May 18, 2001, and (c) principal in the amount of Eighteen Thousand Eight
Hundred Sixty-five Dollars ($18,865), plus accrued but unpaid interest on the
outstanding balance of principal hereunder, shall be forgiven on August 18,
2001.  Notwithstanding the preceding to the contrary, if Borrower sells any of
the Pledged Collateral (as defined below), the outstanding principal and accrued
interest under this Promissory Note shall be due and payable to the extent of
the gross sales price, less commissions, derived from the sale of the Pledged
Collateral.  Every payment received by E-Stamp with respect to this Promissory
Note shall be applied as follows: first, to the payment of any late charges;
second, to the payment of accrued but unpaid interest; and, third, to the
payment of the outstanding principal balance of this Promissory Note.

     2.   Due Date.  The "Due Date" shall be the earlier of (i) the date that
          --------
Borrower ceases to be a director on the Board of Directors of E-Stamp, whether
voluntarily or involuntarily, and whether with or without cause, or (ii) August
18, 2001.

     3.   Purpose of Loan.  Borrower acknowledges and agrees that E-Stamp is
          ---------------
making this loan to Borrower for the purpose of financing Borrower's income tax
liability associated with the issuance to Borrower of 50,000 shares of E-Stamp
common stock on August 18, 1999.

     4.   Default.  In the event that Borrower fails to pay any amount due under
          -------
this Promissory Note as and when due or to timely perform any other obligation
of Borrower under this Promissory Note, the Pledge Agreement (as defined below),
E-Stamp may, at its option, declare the entire principal sum and all accrued but
unpaid interest under this Promissory Note immediately due and payable.  In the
event that E-Stamp

                                       1
<PAGE>

exercises this option or the principal balance of this Promissory Note otherwise
becomes due and payable, all principal then outstanding under this Promissory
Note shall thereafter bear simple interest at the lesser of ten percent (10%)
per annum or the maximum rate permitted by law. Failure to exercise this option
shall not constitute a waiver of E-Stamp's right to exercise the same with
respect to any prior or subsequent defaults.

     5.   Security.  Borrower's obligations under this Promissory Note are
          --------
secured by that certain Stock Pledge Agreement of even date herewith ("Pledge
Agreement") encumbering 17,500 shares of common stock of E-Stamp owned by
Borrower and pledged as collateral thereunder ("Pledged Collateral").

     6.   Full Recourse Loan.  This Promissory Note evidences a full recourse
          ------------------
loan.  Borrower acknowledges that Borrower is personally liable for the
performance of the obligations of Borrower under this Promissory Note, and
Borrower's liability shall not be limited to the value of the Pledged Collateral
or other security provided to E-Stamp to secure Borrower's performance of its
obligations under this Promissory Note.

     7.   Tax Liability.  Borrower understands and agrees that any and all
          -------------
income tax liability to Borrower resulting from this Promissory Note, including,
without limitation, the forgiveness of principal and interest hereunder, shall
be the sole responsibility of Borrower.

     8.   Attorneys' Fees.  In the event any legal action or proceeding is
          ---------------
required to enforce or interpret any provision of this Promissory Note, Borrower
shall pay to E-Stamp upon demand all costs of collection and reasonable
attorneys' fees incurred by E-Stamp.

     9.   Miscellaneous.  If any provision of this Promissory Note shall be
          -------------
invalid or unenforceable for any reason, the same shall be ineffective, but the
remainder of this Promissory Note shall not be affected thereby and shall remain
in full force and effect.  Time is of the essence of each and every obligation
of Borrower hereunder.  Presentment and demand for payment, notice of dishonor,
protest and notice of protest are hereby waived by Borrower.  If the due date
for any payment under this Promissory Note falls on a Saturday, Sunday or legal
holiday, then such due date shall be extended to the next business day.  None of
the terms or provisions of this Promissory Note may be waived, altered, modified
or amended except by a writing signed by E-Stamp and Borrower.  The provisions
of this Promissory Note shall be governed by California law.  The covenants,
terms and conditions hereof shall bind the heirs, successors and

                                       2
<PAGE>

assigns of Borrower and shall inure to the benefit of the successors and assigns
of E-Stamp.

     IN WITNESS WHEREOF, Borrower has executed this Promissory Note as of the
date first set forth above.

                                        BORROWER:

                                        /s/ Marcelo Gumucio
                                        ----------------------------------------
                                        Marcelo Gumucio

                                        /s/ Carole Gumucio
                                        ----------------------------------------
                                        Carole Gumucio

                                       3

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